XML 79 R67.htm IDEA: XBRL DOCUMENT v3.6.0.2
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Balance Sheet) (Details)
Dec. 31, 2016
USD ($)
item
Feb. 01, 2016
item
Dec. 31, 2015
USD ($)
item
Feb. 01, 2015
item
Dec. 31, 2014
USD ($)
item
Oct. 28, 2009
USD ($)
Mar. 02, 2005
USD ($)
item
Sep. 30, 2004
USD ($)
item
Aug. 31, 2004
USD ($)
item
Nov. 30, 2001
USD ($)
item
ASSETS                    
Rental Properties $ 142,881,344   $ 148,681,873   $ 153,973,241          
Cash & Cash Equivalents 2,081,578   1,873,377   1,554,873          
Rent Receivable 265,073   96,371   153,693          
Real Estate Tax Escrow 612,537   513,139   642,780          
Prepaid Expenses & Other Assets 2,361,142   2,282,252   2,445,524          
Total Assets 148,201,674   153,447,012   158,770,111          
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 130,152,298       137,317,724          
Accounts Payable and Accrued Expenses 1,033,761   1,254,230   1,169,702          
Advance Rental Payments and Security Deposits 3,736,609   3,541,179   3,197,700          
Total Liabilities 134,922,668   140,453,398   141,685,126          
Partners' Capital 13,279,006   12,993,614   17,084,985          
Total Liabilities and Capital 148,201,674   153,447,012   158,770,111          
Investment in Unconsolidated Joint Ventures 8,336,505   7,819,162   8,807,868          
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture (2,577,606)   (2,288,090)   $ (1,425,369)          
Total Investment in Unconsolidated Joint Ventures (Net) 5,758,899   $ 5,531,072              
Total units/ condominiums                    
Total | item         1,033          
Units to be retained | item         786          
Units to be sold | item         247          
Units sold | item         240          
Unsold units | item         7          
NERA 50%                    
LIABILITIES AND PARTNERS' CAPITAL                    
Investment in Unconsolidated Joint Ventures $ 8,336,505                  
Residential buildings                    
Total units/ condominiums                    
Total | item         1,030          
Commercial                    
Total units/ condominiums                    
Total | item         3          
Investment Properties                    
Total units/ condominiums                    
Total | item 1,033   1,033              
Units to be retained | item 689   786              
Units to be sold | item 344   247              
Units sold | item   258   242            
Unsold units | item   38   5            
Units unsold with deposits for future sale | item   6 2              
Investment Properties | Residential buildings                    
Total units/ condominiums                    
Total | item 1,030   1,030              
Investment Properties | Commercial                    
Total units/ condominiums                    
Total | item 3   3              
Hamilton Essex 81                    
ASSETS                    
Rental Properties $ 8,011,942   $ 8,419,054   $ 8,732,134          
Cash & Cash Equivalents 167,953   200,185   759          
Rent Receivable 25,604   9,058   44,399          
Real Estate Tax Escrow 127,728   33,643   105,474          
Prepaid Expenses & Other Assets 96,307   104,975   83,881          
Total Assets 8,429,534   8,766,915   8,966,647          
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 9,879,346       8,079,567          
Accounts Payable and Accrued Expenses 59,227   69,413   49,426          
Advance Rental Payments and Security Deposits 218,582   202,470   174,186          
Total Liabilities 10,157,155   10,137,440   8,303,179          
Partners' Capital (1,727,621)   (1,370,525)   663,468          
Total Liabilities and Capital 8,429,534   $ 8,766,915   $ 8,966,647          
Partners' Capital % - NERA     50.00%   50.00%          
Investment in Unconsolidated Joint Ventures         $ 331,734          
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (863,810)   $ (685,263)              
Total units/ condominiums                    
Total | item 49   49   49          
Units to be retained | item 49   49   49          
Hamilton Essex 81 | NERA 50%                    
LIABILITIES AND PARTNERS' CAPITAL                    
Partners' Capital % - NERA 50.00%                  
Hamilton Essex 81 | Residential buildings                    
Total units/ condominiums                    
Total | item 48   48   48          
Hamilton Essex 81 | Commercial                    
Total units/ condominiums                    
Total | item 1   1   1          
Hamilton Essex Development                    
ASSETS                    
Rental Properties $ 2,622,011   $ 2,618,666   $ 2,621,495          
Cash & Cash Equivalents 52,321   16,036   4,216          
Prepaid Expenses & Other Assets 615   565   559          
Total Assets 2,674,947   2,635,267   2,626,270          
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable         1,982,191          
Accounts Payable and Accrued Expenses 1,700   1,700   6,088          
Total Liabilities 1,700   1,700   1,988,279          
Partners' Capital 2,673,247   2,633,567   637,991          
Total Liabilities and Capital $ 2,674,947   $ 2,635,267   $ 2,626,270          
Partners' Capital % - NERA     50.00%   50.00%          
Investment in Unconsolidated Joint Ventures         $ 318,995          
Total units/ condominiums                    
Total | item 1   1   1          
Units to be retained | item 1   1   1          
Hamilton Essex Development | NERA 50%                    
LIABILITIES AND PARTNERS' CAPITAL                    
Partners' Capital % - NERA 50.00%                  
Investment in Unconsolidated Joint Ventures $ 1,336,623   $ 1,316,782              
Hamilton Essex Development | Commercial                    
Total units/ condominiums                    
Total | item 1   1   1          
345 Franklin                    
ASSETS                    
Rental Properties $ 6,587,662   $ 6,780,019   $ 7,132,916          
Cash & Cash Equivalents 57,635   160,086   111,875          
Rent Receivable 9,840   3,738   2,116          
Real Estate Tax Escrow 18,570   15,322   17,731          
Prepaid Expenses & Other Assets 50,553   37,088   36,911          
Total Assets 6,724,260   6,996,253   7,301,549          
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 9,849,225       9,910,110          
Accounts Payable and Accrued Expenses 65,948   63,268   51,122          
Advance Rental Payments and Security Deposits 236,679   221,871   191,054          
Total Liabilities 10,151,852   10,201,908   10,152,286          
Partners' Capital (3,427,592)   (3,205,655)   (2,850,737)          
Total Liabilities and Capital $ 6,724,260   $ 6,996,253   $ 7,301,549          
Partners' Capital % - NERA     50.00%   50.00%         50.00%
Investment in Unconsolidated Joint Ventures                   $ 1,533,000
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture     $ (1,602,828)   $ (1,425,369)          
Total units/ condominiums                    
Total | item 40   40   40         40
Units to be retained | item 40   40   40          
345 Franklin | NERA 50%                    
LIABILITIES AND PARTNERS' CAPITAL                    
Partners' Capital % - NERA 50.00%                  
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (1,713,796)                  
345 Franklin | Residential buildings                    
Total units/ condominiums                    
Total | item 40   40   40          
Hamilton 1025                    
ASSETS                    
Rental Properties $ 3,706,705   $ 4,939,620   $ 5,156,752          
Cash & Cash Equivalents 144,831   27,721   23,008          
Rent Receivable 10,568   4,164   2,111          
Real Estate Tax Escrow     80,196   75,027          
Prepaid Expenses & Other Assets 403,514   56,048   45,705          
Total Assets 4,265,618   5,107,749   5,302,603          
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable         4,796,446          
Accounts Payable and Accrued Expenses 9,432   28,736   28,751          
Advance Rental Payments and Security Deposits 61,883   91,649   96,142          
Total Liabilities 71,315   4,849,136   4,921,339          
Partners' Capital 4,194,303   258,613   381,264          
Total Liabilities and Capital $ 4,265,618   $ 5,107,749   $ 5,302,603          
Partners' Capital % - NERA     50.00%   50.00%   50.00%      
Investment in Unconsolidated Joint Ventures         $ 190,632   $ 2,352,000      
Total units/ condominiums                    
Total | item 176   176   176   176      
Units to be retained | item     48   49          
Units to be sold | item 176   127   127          
Units sold | item 10 139   127 127          
Unsold units | item   37                
Units unsold with deposits for future sale | item   5                
Hamilton 1025 | NERA 50%                    
LIABILITIES AND PARTNERS' CAPITAL                    
Partners' Capital % - NERA 50.00%                  
Investment in Unconsolidated Joint Ventures $ 2,097,151   $ 129,305              
Hamilton 1025 | Residential buildings                    
Total units/ condominiums                    
Total | item 175   175   175          
Hamilton 1025 | Commercial                    
Total units/ condominiums                    
Total | item 1   1   1          
Hamilton Bay Sales                    
ASSETS                    
Rental Properties $ 140,635   $ 573,138   $ 811,043          
Cash & Cash Equivalents 18,576   7,728   28,636          
Rent Receivable 2,452       1,770          
Prepaid Expenses & Other Assets 1,540   12,879   198,603          
Total Assets 163,203   593,745   1,040,052          
LIABILITIES AND PARTNERS' CAPITAL                    
Accounts Payable and Accrued Expenses 3,137   12,605   21,454          
Advance Rental Payments and Security Deposits 1,822   5,799   10,999          
Total Liabilities 4,959   18,404   32,453          
Partners' Capital 158,244   575,341   1,007,599          
Total Liabilities and Capital $ 163,203   $ 593,745   $ 1,040,052          
Partners' Capital % - NERA     50.00%   50.00%          
Investment in Unconsolidated Joint Ventures         $ 503,800          
Total units/ condominiums                    
Total | item 120   120   120          
Units to be sold | item 120   120   120          
Units sold | item   119   115 113          
Unsold units | item   1   5 7          
Units unsold with deposits for future sale | item   1 2              
Hamilton Bay Sales | NERA 50%                    
LIABILITIES AND PARTNERS' CAPITAL                    
Partners' Capital % - NERA 50.00%                  
Investment in Unconsolidated Joint Ventures $ 79,122   $ 287,670              
Hamilton Bay Sales | Residential buildings                    
Total units/ condominiums                    
Total | item 120   120   120          
Hamilton Bay Apts                    
ASSETS                    
Rental Properties $ 5,929,749   $ 6,174,512   $ 6,416,511          
Cash & Cash Equivalents 923   545   32,379          
Rent Receivable 5,520   241   945          
Real Estate Tax Escrow 47,308   51,218   46,978          
Prepaid Expenses & Other Assets 79,474   63,345   46,290          
Total Assets 6,062,974   6,289,861   6,543,103          
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 4,430,574       4,560,483          
Accounts Payable and Accrued Expenses 12,277   14,594   10,193          
Advance Rental Payments and Security Deposits 82,693   95,552   99,043          
Total Liabilities 4,525,544   4,607,329   4,669,719          
Partners' Capital 1,537,430   1,682,532   1,873,384          
Total Liabilities and Capital $ 6,062,974   $ 6,289,861   $ 6,543,103          
Partners' Capital % - NERA     50.00%   50.00%          
Investment in Unconsolidated Joint Ventures         $ 936,692          
Total units/ condominiums                    
Total | item 48   48   48          
Units to be retained | item     48   48          
Units to be sold | item 48                  
Hamilton Bay Apts | NERA 50%                    
LIABILITIES AND PARTNERS' CAPITAL                    
Partners' Capital % - NERA 50.00%                  
Investment in Unconsolidated Joint Ventures $ 768,714   $ 841,265              
Hamilton Bay Apts | Residential buildings                    
Total units/ condominiums                    
Total | item 48   48   48          
Hamilton Minuteman                    
ASSETS                    
Rental Properties $ 6,165,266   $ 6,352,363   $ 6,551,038          
Cash & Cash Equivalents 47,795   39,184   66,705          
Rent Receivable     668              
Real Estate Tax Escrow 18,198   40,499   40,532          
Prepaid Expenses & Other Assets 26,473   41,201   44,736          
Total Assets 6,257,732   6,473,915   6,703,011          
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 5,879,634       5,284,499          
Accounts Payable and Accrued Expenses 50,643   55,116   52,095          
Advance Rental Payments and Security Deposits 120,096   113,084   95,642          
Total Liabilities 6,050,373   5,377,020   5,432,236          
Partners' Capital 207,359   1,096,895   1,270,775          
Total Liabilities and Capital $ 6,257,732   $ 6,473,915   $ 6,703,011          
Partners' Capital % - NERA     50.00%   50.00%     50.00%    
Investment in Unconsolidated Joint Ventures         $ 635,388     $ 5,075,000    
Total units/ condominiums                    
Total | item 42   42   42     42    
Units to be retained | item 42   42   42          
Hamilton Minuteman | NERA 50%                    
LIABILITIES AND PARTNERS' CAPITAL                    
Partners' Capital % - NERA 50.00%                  
Investment in Unconsolidated Joint Ventures $ 103,679   $ 548,446              
Hamilton Minuteman | Residential buildings                    
Total units/ condominiums                    
Total | item 42   42   42          
Hamilton on Main Apts                    
ASSETS                    
Rental Properties $ 17,773,858   $ 18,574,474   $ 19,408,575          
Cash & Cash Equivalents 95,294   235,748   158,515          
Rent Receivable 6,133   11,684   7,495          
Real Estate Tax Escrow 189,239   81,815   62,290          
Prepaid Expenses & Other Assets 75,324   67,496   71,703          
Total Assets 18,139,848   18,971,217   19,708,578          
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 16,776,940       16,744,838          
Accounts Payable and Accrued Expenses 157,812   216,091   156,578          
Advance Rental Payments and Security Deposits 347,446   328,675   305,809          
Total Liabilities 17,282,198   17,305,655   17,207,225          
Partners' Capital 857,650   1,665,562   2,501,353          
Total Liabilities and Capital $ 18,139,848   $ 18,971,217   $ 19,708,578          
Partners' Capital % - NERA     50.00%   50.00%       50.00%  
Investment in Unconsolidated Joint Ventures         $ 1,250,676       $ 8,000,000  
Total units/ condominiums                    
Total | item 148   148   148       280  
Units to be retained | item 148   148   148          
Hamilton on Main Apts | NERA 50%                    
LIABILITIES AND PARTNERS' CAPITAL                    
Partners' Capital % - NERA 50.00%                  
Investment in Unconsolidated Joint Ventures $ 428,824   $ 832,780              
Hamilton on Main Apts | Residential buildings                    
Total units/ condominiums                    
Total | item 148   148   148          
Dexter Park                    
ASSETS                    
Rental Properties $ 91,943,516   $ 94,250,027   $ 97,142,777          
Cash & Cash Equivalents 1,496,250   1,186,144   1,128,780          
Rent Receivable 204,956   66,818   94,857          
Real Estate Tax Escrow 211,494   210,446   294,748          
Prepaid Expenses & Other Assets 1,627,342   1,898,655   1,917,136          
Total Assets 95,483,558   97,612,090   100,578,298          
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 83,336,579       85,959,590          
Accounts Payable and Accrued Expenses 673,585   792,707   793,995          
Advance Rental Payments and Security Deposits 2,667,408   2,482,079   2,224,825          
Total Liabilities 86,677,572   87,954,806   88,978,410          
Partners' Capital 8,805,986   9,657,284   11,599,888          
Total Liabilities and Capital $ 95,483,558   $ 97,612,090   $ 100,578,298          
Partners' Capital % - NERA     40.00%   40.00% 40.00%        
Investment in Unconsolidated Joint Ventures         $ 4,639,953 $ 15,925,000        
Total units/ condominiums                    
Total | item 409   409   409          
Units to be retained | item 409   409   409          
Dexter Park | NERA 40%                    
LIABILITIES AND PARTNERS' CAPITAL                    
Partners' Capital % - NERA 40.00%                  
Investment in Unconsolidated Joint Ventures $ 3,522,393   $ 3,862,914              
Dexter Park | Residential buildings                    
Total units/ condominiums                    
Total | item 409   409   409