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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton 1025) (Details)
3 Months Ended 12 Months Ended
Jul. 08, 2016
USD ($)
Mar. 02, 2005
USD ($)
item
Mar. 31, 2017
USD ($)
item
Dec. 31, 2016
USD ($)
item
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES        
Investments in joint venture     $ 9,955,145 $ 8,336,505
Outstanding amount of mortgage     $ 212,322,196 $ 212,709,080
Hamilton 1025        
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES        
Investments in joint venture   $ 2,352,000    
Ownership interest (as a percent)   50.00%    
Number of units | item   176    
Number of units sold | item   127 6 10
Unsold units | item     30  
Number of units retained for long-term investment | item   49 2  
Capital contributions $ 2,359,500      
Purchase price of investments   $ 23,750,000    
Gain on sale of assets     $ 711,000 $ 1,324,000
Hamilton 1025 | Mortgages payable        
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES        
Term of debt   10 years    
Interest rate (as a percent)   5.67%    
Period for which the entity is required to make interest only payments   5 years    
Amortization period of debt   30 years    
Borrowings   $ 5,000,000