XML 26 R2.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
6 Months Ended 12 Months Ended
Jun. 30, 2011
Dec. 31, 2010
Real Estate:    
Building $ 38,933,801 $ 38,933,801
Less: Accumulated depreciation 9,193,438 8,694,307
Building, net 29,740,363 30,239,494
Building improvements 10,162,577 10,162,577
Less: Accumulated depreciation 541,518 411,235
Building improvements, net 9,621,059 9,751,342
Land 21,550,588 21,550,588
Total real estate, net 60,912,010 61,541,424
Cash and cash equivalents 19,139,852 25,318,179
Restricted cash 1,887,996 896,965
Due from Supervisor 324,111 324,111
Other receivables 89,525 92,118
Deferred costs 2,039,477 1,038,603
Due from Sublessee 8,961,815 8,961,815
Other assets 250,000 100,000
Mortgage financing costs, less accumulated amortization of $2,790,351 in 2011 and $2,457,051 in 2010 568,307 901,607
Total assets 94,173,093 99,174,822
Liabilities:    
Mortgages payable 92,000,000 92,000,000
Accrued mortgage interest 498,333 514,944
Additional rent due to Sublessee 0 1,888,629
Accrued supervisory fees, to a related party 0 312,500
Accrued expenses 216,775 553,522
Total liabilities 92,715,108 95,269,595
Commitments and contingencies    
Members' equity (At June 30, 2011 and December 31, 2010, there were 3,300 units (at $10,000 per unit) of participation units outstanding) 1,457,985 3,905,227
Total liabilities and members' equity $ 94,173,093 $ 99,174,822