Property and Equipment - at cost

6 Months Ended

Jan. 31, 2017

Property, Plant and Equipment [Abstract]

Property and Equipment - at cost

6. Property and Equipment – at cost:

	January 31		July 31
	2017		2016
Property:
Buildings and improvements	$	80,062,532	$	77,693,718
Improvements to leased property		1,478,012		1,478,012
Land		6,067,805		6,067,805
Construction in progress		386,652		1,697,292
		87,995,001		86,936,827
Less accumulated depreciation		38,817,111		38,008,810
Property - net		49,177,890		48,928,017
Fixtures and equipment and other:
Fixtures and equipment		144,545		144,545
Other fixed assets		193,016		195,478
		337,561		340,023
Less accumulated depreciation		198,804		203,303
Fixtures and equipment and other - net		138,757		136,720
Property and equipment - net	$	49,316,647	$	49,064,737
Construction in progress includes:
	January 31		July 31
	2017		2016
Building improvements at 9 Bond Street in Brooklyn, NY	$	386,652	$	–
Building improvements at 25 Elm Place in Brooklyn, NY		–		1,697,292
	$	386,652	$	1,697,292