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      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
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      <AuditCommitteeInd>true</AuditCommitteeInd>
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        <FormAndLineReferenceDesc>PART III, LINE 12</FormAndLineReferenceDesc>
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      <InclEscrowCustodialAcctLiabInd>true</InclEscrowCustodialAcctLiabInd>
      <ExplanationProvidedInd>X</ExplanationProvidedInd>
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      </EquipmentGrp>
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      <OtherAssetsOrgGrp>
        <Desc>FUNDING RESERVE</Desc>
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      </OtherAssetsOrgGrp>
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        <Desc>TENANT SECURITY DEPOSIT</Desc>
        <BookValueAmt>375339</BookValueAmt>
      </OtherAssetsOrgGrp>
      <OtherAssetsOrgGrp>
        <Desc>OTHER RECEIVABLES</Desc>
        <BookValueAmt>17050</BookValueAmt>
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      <OtherLiabilitiesOrgGrp>
        <Desc>PREPAID RENT</Desc>
        <Amt>58759</Amt>
      </OtherLiabilitiesOrgGrp>
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      <TotalRevenuePerForm990Amt>5164224</TotalRevenuePerForm990Amt>
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      <ExpensesSubtotalAmt>5214663</ExpensesSubtotalAmt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE D, PAGE 2, PART IV, LINE 2B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION HOLDS SECURITY DEPOSITS FROM TENANTS IN AN ESCROW ACCOUNT. THESE DEPOSITS ARE RETURNED TO THE TENANTS ONCE TENANTS MOVE OUT OF THE APARTMENT.</ExplanationTxt>
      </SupplementalInformationDetail>
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      <SupplementalNonqualRtrPlanInd>false</SupplementalNonqualRtrPlanInd>
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      <CompBsdNetEarnsFlngOrgInd>false</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>false</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>false</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>false</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>FATHER LOUIS GIGANTE</PersonNm>
        <TitleTxt>CHAIRMAN</TitleTxt>
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        <TotalCompensationRltdOrgsAmt>540800</TotalCompensationRltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>SALVATORE GIGANTE</PersonNm>
        <TitleTxt>CHIEF OPERATING OFFI</TitleTxt>
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        <TotalCompensationRltdOrgsAmt>322826</TotalCompensationRltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
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        <NameOfInterested>
          <PersonNm>BUILDING MANAGEMENT ASSOCIATION</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>OFFICER/DIRECTO</RelationshipDescriptionTxt>
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        <TransactionDesc>PROPERY MGMT</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>TIFFANY MAINTENANCE CO INC</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>OFFICER/DIRECTO</RelationshipDescriptionTxt>
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        <TransactionDesc>MAINT. &amp; REPAIR</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>SENTRY SECURITY</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>OFFICER/DIRECT</RelationshipDescriptionTxt>
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        <TransactionDesc>SECURITY</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
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        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 2</FormAndLineReferenceDesc>
        <ExplanationTxt>FATHER LOUIS GIGANTE SALVATORE GIGANTE CHAIRPERSON CHIEF OPERAT FAMILY RELATED</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION OWNS APARTMENT BUILDINGS CONSTRUCTED AND MAINTAINED TO PROVIDE LOW INCOME HOUSING. THE BUILDINGS ARE MANAGED BY BUILDING MANAGEMENT ASSOCIATES, INC., A REAL ESTATE PROPERTY MANAGEMENT COMPANY, WHICH IS OWNED BY AN OFFICER AND BOARD MEMBER OF THE REPORTING ORGANIZATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION'S 990 IS REVIEWED AND APPROVED BY CONTROLLER AND CHIEF OPERATING OFFICER BEFORE IT IS FINALIZED AND ISSUED.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>DOCUMENTS, WHICH ARE PUBLIC RECORD, ARE AVAILABLE FROM NY SECRETARY OF STATE.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
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</Return>