XML 18 R50.htm IDEA: XBRL DOCUMENT v2.4.0.8
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Details 3) (USD $)
3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Hamilton Essex 81
Mar. 31, 2013
Hamilton Essex 81
Mar. 31, 2014
Hamilton Essex 81
NERA 50%
Mar. 31, 2013
Hamilton Essex 81
NERA 50%
Mar. 31, 2014
Hamilton Essex Development
Mar. 31, 2013
Hamilton Essex Development
Mar. 31, 2014
Hamilton Essex Development
NERA 50%
Mar. 31, 2013
Hamilton Essex Development
NERA 50%
Mar. 31, 2014
345 Franklin
Mar. 31, 2013
345 Franklin
Nov. 30, 2001
345 Franklin
Mar. 31, 2014
345 Franklin
NERA 50%
Mar. 31, 2013
345 Franklin
NERA 50%
Mar. 31, 2014
Hamilton 1025
Mar. 31, 2013
Hamilton 1025
Mar. 02, 2005
Hamilton 1025
Mar. 31, 2014
Hamilton 1025
NERA 50%
Mar. 31, 2013
Hamilton 1025
NERA 50%
Mar. 31, 2014
Hamilton Bay Sales
Mar. 31, 2013
Hamilton Bay Sales
Mar. 31, 2014
Hamilton Bay Sales
NERA 50%
Mar. 31, 2013
Hamilton Bay Sales
NERA 50%
Mar. 31, 2014
Hamilton Bay Apartments
Mar. 31, 2013
Hamilton Bay Apartments
Oct. 03, 2005
Hamilton Bay Apartments
Mar. 31, 2014
Hamilton Bay Apartments
NERA 50%
Mar. 31, 2013
Hamilton Bay Apartments
NERA 50%
Mar. 31, 2014
Hamilton Minuteman
Mar. 31, 2013
Hamilton Minuteman
Sep. 30, 2004
Hamilton Minuteman
Mar. 31, 2014
Hamilton Minuteman
NERA 50%
Mar. 31, 2013
Hamilton Minuteman
NERA 50%
Mar. 31, 2014
Hamilton on Main
Mar. 31, 2013
Hamilton on Main
Aug. 31, 2004
Hamilton on Main
Mar. 31, 2014
Hamilton on Main
NERA 50%
Mar. 31, 2013
Hamilton on Main
NERA 50%
Mar. 31, 2014
Dexter Park
Mar. 31, 2013
Dexter Park
Oct. 28, 2009
Dexter Park
Mar. 31, 2014
Dexter Park
NERA 40%
Mar. 31, 2013
Dexter Park
NERA 40%
Mar. 31, 2014
Total
Mar. 31, 2013
Total
Mar. 31, 2014
Total
NERA 50%
Mar. 31, 2013
Total
NERA 50%
Mar. 31, 2014
Total
NERA 40%
Mar. 31, 2013
Total
NERA 40%
Revenues                                                                                                    
Rental income $ 10,514,719 $ 8,924,007 $ 328,770 $ 328,455     $ 73,236 $ 71,896     $ 327,740 $ 304,290       $ 231,187 $ 220,217       $ 62,798 $ 59,608     $ 238,891 $ 219,281       $ 223,942 $ 215,857       $ 717,680 $ 676,946       $ 3,357,055 $ 3,160,009       $ 5,561,299 $ 5,561,299        
Laundry and sundry income 103,209 95,686 3,920 3,846             (423) 645                                   169 211       9,456 9,771       25,380 21,432       38,501 35,905        
Total Revenues 10,617,928 9,019,693 332,690 332,301     73,236 71,896     327,317 304,935       231,187 220,217       62,798 59,608     238,891 219,281       224,111 216,068       727,136 686,717       3,382,434 3,181,441       5,599,800 5,292,464        
Expenses                                                                                                    
Administrative 530,567 452,619 3,178 3,854     317 317     6,823 5,732       1,968 1,681       705 773     4,845 3,881       3,003 423       9,485 8,639       54,543 46,878       84,868 72,178        
Depreciation and amortization 2,724,180 1,454,131 107,903 105,572     2,822 2,244     99,725 105,684       60,152 60,087       19,175 21,063     79,314 76,798       79,402 78,708       236,015 244,534       1,345,463 1,438,457       2,029,971 2,133,147        
Management fees     13,275 12,252     2,929 2,876     13,666 13,075       9,231 8,959       2,384 2,338     9,460 8,464       9,310 8,537       28,263 29,041       71,898 65,010       160,417 150,552        
Operating 1,681,934 1,432,175 44,972 35,066             24,823 25,853       160 260       251 1,579     459 422       32,854 23,211       142,160 113,996       488,785 328,825       734,463 529,212        
Renting 36,856 29,851 117 9,350             3,443 1,766       5,753 703       753       3,492 405       2,466 2,338       6,829 1,312       18,590 11,555       41,441 27,429        
Repairs and maintenance 1,211,254 1,081,279 32,278 22,243       550     12,337 13,586       80,443 76,109       23,824 22,770     73,437 74,913       16,887 10,096       90,518 85,905       196,494 181,585       526,219 487,757        
Taxes and insurance 1,441,123 1,160,930 58,284 55,882     13,569 12,199     29,644 28,186       40,604 38,750       11,899 10,230     40,759 35,679       29,572 30,866       95,639 84,817       381,185 396,213       701,154 692,822        
Total Expenses 8,053,306 5,980,237 260,008 244,219     19,638 18,186     190,461 193,882       198,311 186,549       58,990 58,753     211,766 200,562       173,493 154,179       608,908 568,244       2,556,958 2,468,523       4,278,532 4,093,097        
Income Before Other Income and Discontinued Operations 2,564,622 3,039,456 72,682 88,082     53,598 53,710     136,856 111,053       32,876 33,668       3,808 855     27,125 18,719       50,619 61,889       118,227 118,473       825,476 712,918       1,321,267 1,199,367        
Other Income (loss)                                                                                                    
Interest expense (2,386,167) (1,841,069) (119,368) (121,155)     (13,919) (14,598)     (97,753) (118,942)       (69,560) (70,483)       (195) (24,182)     (65,465) (66,267)       (76,500) (77,462)       (200,379) (203,954)       (1,227,695) (1,243,258)       (1,870,833) (1,940,301)        
Interest Income 183 364                   12       4 1         45                                             4 58        
Interest Income from Note                                         334 1,096                                             334 1,096        
Gain on Sale of Real Estate                                         52,283                                               52,283          
Total Other Income (loss) (2,594,236) (2,157,562) (119,368) (121,155)     (13,919) (14,598)     (97,753) (118,930)       (69,555) (70,482)       52,422 (23,041)     (65,465) (66,267)       (76,500) (77,462)       (200,379) (203,954)       (1,227,695) (1,243,258)       (1,818,212) (1,939,147)        
Net Income (Loss) (29,614) 901,625 (46,687) (33,073)     39,679 39,112     39,104 (7,877)       (36,679) (36,814)       56,230 (22,186)     (38,340) (47,548)       (25,881) (15,573)       (82,152) (85,481)       (402,219) (530,340)       (496,945) (739,780)        
Proportionate share of net loss         $ (23,343) $ (16,537)     $ 19,840 $ 19,556       $ 19,552 $ (3,939)       $ (18,340) $ (18,407)     $ 28,115 $ (11,093)       $ (19,170) $ (23,774)       $ (12,941) $ (7,787)       $ (41,076) $ (42,741)       $ (160,888) $ (212,136) $ (208,250) $ (316,856) $ (47,363) $ (104,720) $ (160,888) $ (212,136)
Percentage of ownership interest         50.00% 50.00%     50.00% 50.00%     50.00% 50.00% 50.00%     50.00% 50.00% 50.00%     50.00% 50.00%     50.00% 50.00% 50.00%     50.00% 50.00% 50.00%     50.00% 50.00% 50.00%     40.00% 40.00% 40.00%