XML 68 R58.htm IDEA: XBRL DOCUMENT v3.5.0.2
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Balance Sheet) (Details)
Jun. 30, 2016
USD ($)
property
Dec. 31, 2015
USD ($)
Jun. 30, 2015
USD ($)
property
Oct. 28, 2009
USD ($)
item
Oct. 03, 2005
USD ($)
item
Mar. 07, 2005
item
Mar. 02, 2005
USD ($)
item
Sep. 30, 2004
USD ($)
item
Aug. 31, 2004
USD ($)
item
Nov. 30, 2001
USD ($)
item
LIABILITIES AND PARTNERS' CAPITAL                    
Investment in Unconsolidated Joint Ventures $ 7,079,962 $ 7,819,162                
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture (2,468,307) $ (2,288,090)                
Investment Properties                    
ASSETS                    
Rental Properties 145,999,494   $ 151,316,712              
Cash & Cash Equivalents 1,640,161   1,719,138              
Rent Receivable 183,110   188,006              
Real Estate Tax Escrow 539,506   668,176              
Prepaid Expenses & Other Assets 2,690,531   2,340,334              
Total Assets 151,052,802   156,232,366              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 134,906,750   136,507,135              
Accounts Payable and Accrued Expenses 986,745   1,118,568              
Advance Rental Payments and Security Deposits 4,142,392   3,863,685              
Total Liabilities 140,035,887   141,489,388              
Partners' Capital 11,016,915   14,742,978              
Total Liabilities and Capital 151,052,802   156,232,366              
Investment in Unconsolidated Joint Ventures 7,079,962   7,866,077              
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture (2,468,307)   (1,534,258)              
Total Investment in Unconsolidated Joint Ventures (Net) $ 4,611,655   $ 6,331,819              
Total units/ condominiums                    
Total | property 1,033   1,033              
Units to be retained | property 786   786              
Units to be sold | property 247   247              
Units sold | property 245   240              
Unsold units | property 2   7              
Investment Properties | Residential buildings                    
Total units/ condominiums                    
Total | property 1,030   1,030              
Investment Properties | Commercial                    
Total units/ condominiums                    
Total | property 3   3              
Hamilton Essex 81                    
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable $ 9,872,451                  
Total units/ condominiums                    
Total | item           48        
Hamilton Essex 81 | NERA 50%                    
ASSETS                    
Rental Properties 8,233,823   $ 8,564,474              
Cash & Cash Equivalents 111,271   29,625              
Rent Receivable 46,713   25,517              
Real Estate Tax Escrow 83,814   123,085              
Prepaid Expenses & Other Assets 105,562   92,967              
Total Assets 8,581,183   8,835,668              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 9,872,451   8,020,648              
Accounts Payable and Accrued Expenses 54,553   59,786              
Advance Rental Payments and Security Deposits 196,372   199,886              
Total Liabilities 10,123,376   8,280,320              
Partners' Capital (1,542,193)   555,348              
Total Liabilities and Capital $ 8,581,183   $ 8,835,668              
Partners' Capital % - NERA 50.00%   50.00%              
Investment in Unconsolidated Joint Ventures     $ 277,674              
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (771,097)                  
Total units/ condominiums                    
Total | property 49   49              
Units to be retained | property 49   49              
Hamilton Essex 81 | Residential buildings | NERA 50%                    
Total units/ condominiums                    
Total | property 48   48              
Hamilton Essex 81 | Commercial | NERA 50%                    
Total units/ condominiums                    
Total | property 1   1              
Hamilton Essex Development | NERA 50%                    
ASSETS                    
Rental Properties $ 2,617,251   $ 2,620,081              
Cash & Cash Equivalents 42,323   33,530              
Prepaid Expenses & Other Assets 1,351                  
Total Assets 2,660,925   2,653,611              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable     1,959,763              
Accounts Payable and Accrued Expenses 850   5,308              
Total Liabilities 850   1,965,071              
Partners' Capital 2,660,075   688,540              
Total Liabilities and Capital $ 2,660,925   $ 2,653,611              
Partners' Capital % - NERA 50.00%   50.00%              
Investment in Unconsolidated Joint Ventures $ 1,330,037   $ 344,270              
Total units/ condominiums                    
Total | property 1   1              
Units to be retained | property 1   1              
Hamilton Essex Development | Commercial | NERA 50%                    
Total units/ condominiums                    
Total | property 1   1              
345 Franklin                    
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable $ 9,920,098                  
Partners' Capital % - NERA                   50.00%
Investment in Unconsolidated Joint Ventures                   $ 1,533,000
Total units/ condominiums                    
Total | item                   40
345 Franklin | NERA 50%                    
ASSETS                    
Rental Properties 6,607,281   $ 6,951,074              
Cash & Cash Equivalents 183,078   116,046              
Rent Receivable 8,347   4,123              
Real Estate Tax Escrow 16,713   17,330              
Prepaid Expenses & Other Assets 37,218   51,470              
Total Assets 6,852,637   7,140,043              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 9,920,098   9,913,439              
Accounts Payable and Accrued Expenses 67,207   64,628              
Advance Rental Payments and Security Deposits 259,754   230,492              
Total Liabilities 10,247,059   10,208,559              
Partners' Capital (3,394,422)   (3,068,516)              
Total Liabilities and Capital $ 6,852,637   $ 7,140,043              
Partners' Capital % - NERA 50.00%   50.00%              
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (1,697,210)   $ (1,534,258)              
Total units/ condominiums                    
Total | property 40   40              
Units to be retained | property 40   40              
345 Franklin | Residential buildings | NERA 50%                    
Total units/ condominiums                    
Total | property 40   40              
Hamilton 1025                    
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable $ 4,693,693                  
Partners' Capital % - NERA             50.00%      
Investment in Unconsolidated Joint Ventures             $ 2,352,000      
Total units/ condominiums                    
Total | item             176      
Units to be retained | item             49      
Units sold | item             127      
Hamilton 1025 | NERA 50%                    
ASSETS                    
Rental Properties 4,829,662   $ 5,039,485              
Cash & Cash Equivalents 288   6,348              
Rent Receivable 18,732   5,178              
Real Estate Tax Escrow 83,537   72,812              
Prepaid Expenses & Other Assets 68,884   54,129              
Total Assets 5,001,103   5,177,952              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 4,693,693   4,762,744              
Accounts Payable and Accrued Expenses 28,749   27,358              
Advance Rental Payments and Security Deposits 89,470   97,276              
Total Liabilities 4,811,912   4,887,378              
Partners' Capital 189,191   290,574              
Total Liabilities and Capital $ 5,001,103   $ 5,177,952              
Partners' Capital % - NERA 50.00%   50.00%              
Investment in Unconsolidated Joint Ventures $ 94,594   $ 145,287              
Total units/ condominiums                    
Total | property 176   176              
Units to be retained | property 49   49              
Units to be sold | property 127   127              
Units sold | property 127   127              
Hamilton 1025 | Residential buildings | NERA 50%                    
Total units/ condominiums                    
Total | property 175   175              
Hamilton 1025 | Commercial | NERA 50%                    
Total units/ condominiums                    
Total | property 1   1              
Hamilton Bay Sales | NERA 50%                    
ASSETS                    
Rental Properties $ 241,741   $ 793,069              
Cash & Cash Equivalents 28,695   8,106              
Rent Receivable 2,400   1,605              
Prepaid Expenses & Other Assets 1,891   19,977              
Total Assets 274,727   822,757              
LIABILITIES AND PARTNERS' CAPITAL                    
Accounts Payable and Accrued Expenses 1,395   20,207              
Advance Rental Payments and Security Deposits 2,373   5,810              
Total Liabilities 3,768   26,017              
Partners' Capital 270,959   796,740              
Total Liabilities and Capital $ 274,727   $ 822,757              
Partners' Capital % - NERA 50.00%   50.00%              
Investment in Unconsolidated Joint Ventures $ 135,479   $ 398,370              
Total units/ condominiums                    
Total | property 120   120              
Units to be sold | property 120   120              
Units sold | property 118   113              
Unsold units | property 2   7              
Hamilton Bay Sales | Residential buildings | NERA 50%                    
Total units/ condominiums                    
Total | property 120   120              
Hamilton Bay Apts                    
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable $ 4,463,701                  
Partners' Capital % - NERA         50.00%          
Investment in Unconsolidated Joint Ventures         $ 2,500,000          
Total units/ condominiums                    
Total | item         168          
Units to be retained | item         48          
Units sold | item         120          
Hamilton Bay Apts | NERA 50%                    
ASSETS                    
Rental Properties 6,017,735   $ 6,288,296              
Cash & Cash Equivalents 4,943   829              
Rent Receivable 12,257   2,221              
Real Estate Tax Escrow 37,780   56,520              
Prepaid Expenses & Other Assets 74,021   55,989              
Total Assets 6,146,736   6,403,855              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 4,463,701   4,528,267              
Accounts Payable and Accrued Expenses 9,232   14,768              
Advance Rental Payments and Security Deposits 98,765   95,435              
Total Liabilities 4,571,698   4,638,470              
Partners' Capital 1,575,038   1,765,385              
Total Liabilities and Capital $ 6,146,736   $ 6,403,855              
Partners' Capital % - NERA 50.00%   50.00%              
Investment in Unconsolidated Joint Ventures $ 787,518   $ 882,693              
Total units/ condominiums                    
Total | property 48   48              
Units to be retained | property 48   48              
Hamilton Bay Apts | Residential buildings | NERA 50%                    
Total units/ condominiums                    
Total | property 48   48              
Hamilton Minuteman                    
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable $ 5,169,696                  
Partners' Capital % - NERA               50.00%    
Investment in Unconsolidated Joint Ventures               $ 5,075,000    
Total units/ condominiums                    
Total | item               42    
Hamilton Minuteman | NERA 50%                    
ASSETS                    
Rental Properties 6,200,372   $ 6,421,497              
Cash & Cash Equivalents 170   42,200              
Rent Receivable     152              
Real Estate Tax Escrow 46,263   39,006              
Prepaid Expenses & Other Assets 159,492   43,472              
Total Assets 6,406,297   6,546,327              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 5,169,696   5,246,816              
Accounts Payable and Accrued Expenses 57,401   47,865              
Advance Rental Payments and Security Deposits 110,976   96,548              
Total Liabilities 5,338,073   5,391,229              
Partners' Capital 1,068,224   1,155,098              
Total Liabilities and Capital $ 6,406,297   $ 6,546,327              
Partners' Capital % - NERA 50.00%   50.00%              
Investment in Unconsolidated Joint Ventures $ 534,111   $ 577,549              
Total units/ condominiums                    
Total | property 42   42              
Units to be retained | property 42   42              
Hamilton Minuteman | Residential buildings | NERA 50%                    
Total units/ condominiums                    
Total | property 42   42              
Hamilton on Main Apts                    
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable $ 16,768,914                  
Partners' Capital % - NERA                 50.00%  
Investment in Unconsolidated Joint Ventures                 $ 8,000,000  
Total units/ condominiums                    
Total | item                 280  
Units sold | item                 137  
Hamilton on Main Apts | NERA 50%                    
ASSETS                    
Rental Properties 18,146,220   $ 19,007,097              
Cash & Cash Equivalents 172,519   208,411              
Rent Receivable 13,230   15,289              
Real Estate Tax Escrow 37,745   94,677              
Prepaid Expenses & Other Assets 109,424   82,262              
Total Assets 18,479,138   19,407,736              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 16,768,914   16,752,864              
Accounts Payable and Accrued Expenses 130,506   154,122              
Advance Rental Payments and Security Deposits 357,657   337,614              
Total Liabilities 17,257,077   17,244,600              
Partners' Capital 1,222,061   2,163,136              
Total Liabilities and Capital $ 18,479,138   $ 19,407,736              
Partners' Capital % - NERA 50.00%   50.00%              
Investment in Unconsolidated Joint Ventures $ 611,030   $ 1,081,568              
Total units/ condominiums                    
Total | property 148   148              
Units to be retained | property 148   148              
Hamilton on Main Apts | Residential buildings | NERA 50%                    
Total units/ condominiums                    
Total | property 148   148              
Dexter Park                    
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable $ 84,018,197                  
Partners' Capital % - NERA       40.00%            
Investment in Unconsolidated Joint Ventures       $ 15,925,000            
Total units/ condominiums                    
Total | item       409            
Dexter Park | NERA 40%                    
ASSETS                    
Rental Properties 93,105,409   $ 95,631,639              
Cash & Cash Equivalents 1,096,874   1,274,043              
Rent Receivable 81,431   133,921              
Real Estate Tax Escrow 233,654   264,746              
Prepaid Expenses & Other Assets 2,132,688   1,940,068              
Total Assets 96,650,056   99,244,417              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 84,018,197   85,322,594              
Accounts Payable and Accrued Expenses 636,852   724,526              
Advance Rental Payments and Security Deposits 3,027,025   2,800,624              
Total Liabilities 87,682,074   88,847,744              
Partners' Capital 8,967,982   10,396,673              
Total Liabilities and Capital $ 96,650,056   $ 99,244,417              
Partners' Capital % - NERA 40.00%   40.00%              
Investment in Unconsolidated Joint Ventures $ 3,587,193   $ 4,158,667              
Total units/ condominiums                    
Total | property 409   409              
Units to be retained | property 409   409              
Dexter Park | Residential buildings | NERA 40%                    
Total units/ condominiums                    
Total | property 409   409