v2.4.0.6

Condensed Statements of Operations (Unaudited) (USD $)	3 Months Ended
Condensed Statements of Operations (Unaudited) (USD $)	Mar. 31, 2012	Mar. 31, 2011
Revenue:
Basic minimum annual rent, from a related party	$ 866,236	$ 817,667
Advance of primary overage rent, from a related party	188,000	188,000
Total rent income	1,054,236	1,005,667
Dividend and interest income	185	251
Total revenue	1,054,421	1,005,918
Expenses:
Interest on mortgages	683,934	649,123
Supervisory services, to a related party	31,425	30,500
Depreciation of building and tenant improvements	400,510	365,504
Amortization of leasing costs	54,281	50,694
Professional fees	53,774	29,833
Miscellaneous	3,000	3,150
Total expenses	1,226,924	1,128,804
Net Loss	$ (172,503)	$ (122,886)
Earnings (loss) per $5,000 participation unit, based on 720 participation units outstanding during the period	$ (239.59)	$ (170.68)
Distributions per $5,000 participation unit consisted of the following:
Income	$ 0	$ 0
Return of capital	$ 250.00	$ 250.00
Total distributions	$ 250.00	$ 250.00

This element represents the amortization of deferred leasing fees incurred by the lessor and amortized over the term of the lease. Such fees represent (a) costs to originate a lease incurred in transactions with independent third parties that (i) result directly from and are essential to acquire that lease and (ii) would not have been incurred had that leasing transaction not occurred and (b) certain costs directly related to specified activities performed by the lessor for that lease. Those activities are: evaluating the prospective lessee's financial condition; evaluating and recording guarantees, collateral, and other security arrangements; negotiating lease terms; preparing and processing lease documents; and closing the transaction.

250 WEST 57TH ST ASSOCIATES L.L.C. 10-Q