XML 49 R20.htm IDEA: XBRL DOCUMENT

Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2011

Real Estate and Accumulated Depreciation [Abstract]

Real Estate and Accumulated Depreciation

SCHEDULE III

60 EAST 42nd ST. ASSOCIATES L.L.C

(A Limited Liability Company)

Real Estate and Accumulated Depreciation


Column				December 31, 2011		December 31, 2010
A		Description
		Land, building and building improvements and equipment situated at One Grand Central Place, 60 East 42^nd Street and 301 Madison Avenue, New York, N.Y.
B		Encumbrances
		Prudential Insurance Company at December 31		$91,478,304		$93,719,850

C		Initial cost to company
		Land		$7,240,000		$7,240,000

		Building		$16,960,000		$16,960,000

D		Cost capitalized subsequent to acquisition
		Building improvements and equipment		$74,308,199		$71,632,358

		Carrying costs		$ None		$ None

E		Gross amount at which carried at close of period
		Land		$7,240,000		$7,240,000
		Building, building improvements and equipment		91,268,199		88,592,358

		Total		$98,508,199(a)		$95,832,358(a)

F		Accumulated depreciation		$32,107,921(b)		$29,552,828(b)

G		Date of construction		1930		1930
H		Date acquired		October 1, 1958		October 1, 1958
I		Life on which depreciation in latest income statements is computed		39 years for building improvements and 7 years for equipment		39 years for building improvements and 7 years for equipment
(a)		Gross amount of real estate
		Balance at January 1		$95,832,358		$90,186,655
		Purchase of building improvements and equipment and construction in progress (expenditures advanced by Lessee, a related party, and recorded by Associates):		2,675,841		5,645,703

		Balance at December 31		$98,508,199		$95,832,358

		The aggregate cost of land, building, and improvements, before depreciation, for Federal income tax purposes at December 31, 2011 was $95,702,358.
(b)		Accumulated depreciation
		Balance at January 1		$29,552,828		$27,399,517
		Depreciation: F/Y/E December 31		2,555,093		2,153,311

		Balance at December 31		$32,107,921		$29,552,828

The entire disclosure for real estate and accumulated depreciation. This may include a schedule that describes the property and lists the initial cost of land, buildings and improvements, improvements and carrying costs capitalized after acquisition, and the total carrying cost for land, buildings and improvements for each property and in aggregate. The schedule also lists the accumulated depreciation for each property and in aggregate, the date each property was constructed and acquired, the useful life used to calculate depreciation and any encumbrances on the properties. The entity provides a reconciliation of the carrying amount of real estate from the beginning of the period to the end of the period. Any real estate investments that have been written down or reserved against are described, including the basis of the write-down. A material amount of intercompany profit in the total carrying amount of real estate is disclosed. The aggregate cost of all real estate investments for federal income tax purposes is also disclosed.

+ References+ Details