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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Dexter) (Details)
1 Months Ended
Jun. 11, 2014
USD ($)
Oct. 28, 2009
USD ($)
item
Oct. 31, 2009
USD ($)
Dec. 31, 2016
USD ($)
item
Dec. 31, 2015
USD ($)
item
Dec. 31, 2014
USD ($)
item
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture       $ 8,336,505 $ 7,819,162 $ 8,807,868
Number of units | item           1,033
Outstanding amount of mortgage       212,709,080 $ 194,500,820  
Mortgages payable            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Outstanding amount of mortgage       $ 212,709,000    
Dexter Park            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture   $ 15,925,000       $ 4,639,953
Ownership interest (as a percent)   40.00%     40.00% 40.00%
Number of units | item       409 409 409
Dexter Park | Mortgage, 5.57%, Due 2019            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Mortgage amount     $ 89,914,000      
Interest rate (as a percent)   5.57%        
Period for which the entity is required to make interest only payments     2 years      
Amortization period of debt   30 years        
Outstanding amount of mortgage       $ 83,501,000    
NERA Dean Street Associates, LLC | Mortgages payable            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Mortgage amount $ 5,687,000          
Interest rate (as a percent) 4.22%          
Period for which the entity is required to make interest only payments 10 years          
Residential buildings            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units | item           1,030
Residential buildings | Dexter Park            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units | item       409 409 409
Residential buildings | Dexter Park            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units | item   409