Preferred Equity Investments and Investments in Unconsolidated Real Estate Joint Ventures (Details 2) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Balance Sheets:
Real estate, net of depreciation	$ 273,832,000		$ 273,832,000		$ 197,742,000
Other assets	39,642,000		39,642,000		33,814,000
Total assets	313,474,000		313,474,000		231,556,000
Mortgage payable	173,603,000		173,603,000		97,598,000
Other liabilities	22,555,000		22,555,000		13,191,000
Total liabilities	196,158,000		196,158,000		110,789,000
Members’ equity	117,316,000		117,316,000		120,767,000
Total liabilities and members’ equity	313,474,000		313,474,000		$ 231,556,000
Operating Statements:
Rental revenues	784	$ 1,469	1,543	$ 2,614
Operating expenses	(915)	(807)	(1,361)	(1,539)
(Loss) income before debt service, acquisition costs, and depreciation and amortization	(131)	662	182	1,075
Interest expense, net	(554)	(331)	(4,471)	(655)
Acquisition costs	0	(1)	0	(1)
Depreciation and amortization	(630)	(767)	(983)	(1,526)
Operating (loss)	(1,315)	(437)	(5,272)	(1,107)
Net loss	$ (1,315)	$ (437)	$ (5,272)	$ (1,107)