Property and Equipment (Tables)

6 Months Ended

Jan. 31, 2020

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

All buildings owned by the Company are held for leasing except for a small portion used for Company offices.

	January 31			July 31
	2020			2019
Land	$	6,067,805		$	6,067,805
Buildings held for leasing
Buildings and improvements		66,906,987			86,461,353
Improvements to leased property		–			1,478,012
Construction in progress		4,370,985			2,325,940
		71,277,972			90,265,305
Accumulated depreciation		(31,943,384	)		(43,310,270	)
Buildings - net		39,334,588			46,955,035
Fixtures and equipment and other:
Fixtures and equipment		144,545			144,545
Other fixed assets		162,010			164,066
		306,555			308,611
Accumulated depreciation		(186,498	)		(202,148	)
Fixtures and equipment and other - net		120,057			106,463
Property and equipment - net	$	45,522,450		$	53,129,303

Schedule of property and equipment construction in progress

Construction in progress includes:
		January 31		July 31
		2020		2019
	Building improvements at 9 Bond Street in Brooklyn, NY	$	–	$	29,132
	Building improvements at 25 Elm Place in Brooklyn, NY		426,533		426,533
	Improvements to leased property		–		303,975
	Building improvements at Fishkill, NY building		3,944,452		1,566,300
		$	4,370,985	$	2,325,940

Schedule of Leased Property real estate Rental Operations Consists

Leased property included in the Company’s real estate rental operations consists of the following:

	Estimated Useful Life	January 31, 2020
Operating lease right-of-use-assets	Lease Terms – 7 to 54 years	$	29,384,531
Accumulated Amortization			(1,163,821	)
Operating lease right-of-use-assets		$	28,220,710