Balance Sheets (USD $)	Dec. 31, 2011	Dec. 31, 2010
Real Estate:
Building: One Grand Central Place, located at 60 East 42nd Street and 301 Madison Avenue, New York, N.Y.	$ 16,960,000	$ 16,960,000
Less: Accumulated depreciation	(16,960,000)	(16,960,000)
Building after accumulated depreciation	0	0
Building improvements and equipment	66,940,647	66,034,042
Less: Accumulated depreciation	(12,187,313)	(12,076,880)
Building improvements after accumulated depreciation	54,753,334	53,957,162
Tenant improvements	5,793,417	5,598,316
Less: Accumulated depreciation	(1,386,473)	(515,948)
Tenant improvements after accumulated depreciation	4,406,944	5,082,368
Land	7,240,000	7,240,000
Total real estate, net	66,400,278	66,279,530
Cash and cash equivalents:
Cash in bank	6,285	34,677
Fidelity U.S. Treasury Income Portfolio	10,460,092	11,520,657
Total cash and cash equivalents	10,466,377	11,555,334
Due from Supervisor	87,202	87,202
Receivable from participants - NYS estimated tax	3,357	3,357
Deferred costs	2,140,059	454,277
Leasing commissions, less accumulated amortization of $1,444,673 in 2011 and $2,742,063 in 2010	1,066,705	1,367,758
Mortgage refinancing costs, less accumulated amortization of $1,825,231 in 2011 and $1,461,613 in 2010	1,048,401	1,412,019
Total assets	81,212,379	81,159,477
Liabilities:
Mortgages payable	91,478,304	93,719,850
Accrued mortgage interest	428,479	438,819
Accrued supervisory fees, a related party	81,265	78,000
Payable to Lessee, a related party	720,066	1,082,082
Due to Supervisor	922,728	43,555
Accrued expenses	422,996	238,200
Total liabilities	94,053,838	95,600,506
Commitments and contingencies
Members' deficiency	(12,841,459)	(14,441,029)
Total liabilities and members' deficiency	$ 81,212,379	$ 81,159,477