XML 69 R59.htm IDEA: XBRL DOCUMENT v3.21.2
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Balance Sheet) (Details)
Sep. 30, 2021
USD ($)
property
Dec. 31, 2020
USD ($)
Sep. 30, 2020
USD ($)
property
Dec. 31, 2019
USD ($)
May 31, 2018
USD ($)
Oct. 28, 2009
USD ($)
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
ASSETS                      
Rental Properties $ 255,114,078 $ 264,609,887                  
Cash and Cash Equivalents 24,616,257 18,646,972                  
Rents Receivable 1,003,672 1,412,074                  
Real Estate Tax Escrows 567,911 534,941                  
Prepaid Expenses and Other Assets 6,170,342 5,054,959                  
Total Assets 288,891,234 291,669,602                  
LIABILITIES AND PARTNERS' CAPITAL                      
Mortgage Notes Payable 281,919,669 283,444,533                  
Accounts Payable and Accrued Expenses 4,301,420 3,888,237                  
Advance Rental Payments and Security Deposits 7,711,022 7,466,134                  
Total Liabilities 333,666,534 333,138,647                  
Partners' Capital (44,775,300) (41,469,045) $ (39,330,161) $ (37,823,787)              
Total Liabilities and Partners' Capital 288,891,234 291,669,602                  
Investment in Unconsolidated Joint Ventures 1,418,974 1,410,769                  
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (22,734,423) $ (21,339,743)                  
NERA 50%                      
LIABILITIES AND PARTNERS' CAPITAL                      
Partners' Capital % - NERA 50.00%   50.00%                
NERA 40%                      
LIABILITIES AND PARTNERS' CAPITAL                      
Partners' Capital % - NERA 40.00%   40.00%                
Investment Properties                      
ASSETS                      
Rental Properties $ 112,651,474   $ 116,833,825                
Cash and Cash Equivalents 3,436,649   4,240,170                
Rents Receivable 392,089   830,257                
Real Estate Tax Escrows 297,534   246,827                
Prepaid Expenses and Other Assets 2,684,999   2,085,019                
Total Assets 119,462,745   124,236,098                
LIABILITIES AND PARTNERS' CAPITAL                      
Mortgage Notes Payable 166,230,563   166,332,832                
Accounts Payable and Accrued Expenses 1,228,687   1,167,605                
Advance Rental Payments and Security Deposits 3,493,954   3,067,704                
Total Liabilities 170,953,204   170,568,141                
Partners' Capital (51,490,459)   (46,332,043)                
Total Liabilities and Partners' Capital 119,462,745   124,236,098                
Investment in Unconsolidated Joint Ventures 1,418,974   1,439,697                
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture (22,734,423)   (20,505,288)                
Total Investment in Unconsolidated Joint Ventures (Net) $ (21,315,449)   $ (19,065,591)                
Total units/ condominiums                      
Total | property 865   865                
Units to be retained | property 690   690                
Units to be sold | property 175   175                
Total number of units sold | property 175   175                
Investment Properties | Residential buildings                      
Total units/ condominiums                      
Total | property 862   862                
Investment Properties | Commercial                      
Total units/ condominiums                      
Total | property 3   3                
Hamilton Essex 81                      
ASSETS                      
Rental Properties $ 6,376,891   $ 6,758,283                
Cash and Cash Equivalents 230,394   281,585                
Rents Receivable 65,313   220,578                
Real Estate Tax Escrows 77,685   66,248                
Prepaid Expenses and Other Assets 311,513   319,434                
Total Assets 7,061,796   7,646,128                
LIABILITIES AND PARTNERS' CAPITAL                      
Mortgage Notes Payable 9,944,844   9,931,055                
Accounts Payable and Accrued Expenses 82,137   53,569                
Advance Rental Payments and Security Deposits 189,746   202,659                
Total Liabilities 10,216,727   10,187,283                
Partners' Capital (3,154,931)   (2,541,155)                
Total Liabilities and Partners' Capital 7,061,796   $ 7,646,128                
Partners' Capital % - NERA     50.00%                
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (1,577,467)   $ (1,270,579)                
Total units/ condominiums                      
Total 49   49       48        
Units to be retained | property 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 | property 48   48                
Hamilton Essex 81 | Commercial                      
Total units/ condominiums                      
Total | property 1   1                
Hamilton Essex Development                      
ASSETS                      
Rental Properties $ 2,588,792   $ 2,591,281                
Cash and Cash Equivalents 73,049   70,894                
Rents Receivable 13,744   48,878                
Prepaid Expenses and Other Assets 67,410   84,898                
Total Assets 2,742,995   2,795,951                
LIABILITIES AND PARTNERS' CAPITAL                      
Accounts Payable and Accrued Expenses 2,250   2,400                
Total Liabilities 2,250   2,400                
Partners' Capital 2,740,745   2,793,551                
Total Liabilities and Partners' Capital 2,742,995   $ 2,795,951                
Partners' Capital % - NERA     50.00%                
Investment in Unconsolidated Joint Ventures $ 1,370,373   $ 1,396,776                
Total units/ condominiums                      
Total | property 1   1                
Units to be retained | property 1   1                
Hamilton Essex Development | NERA 50%                      
LIABILITIES AND PARTNERS' CAPITAL                      
Partners' Capital % - NERA 50.00%                    
Hamilton Essex Development | Commercial                      
Total units/ condominiums                      
Total | property 1   1                
345 Franklin                      
ASSETS                      
Rental Properties $ 5,139,866   $ 5,439,844                
Cash and Cash Equivalents 154,633   183,638                
Rents Receivable 23,113   11,367                
Real Estate Tax Escrows 62,506   57,079                
Prepaid Expenses and Other Assets 123,115   82,969                
Total Assets 5,503,233   5,774,897                
LIABILITIES AND PARTNERS' CAPITAL                      
Mortgage Notes Payable 8,944,849   9,149,766                
Accounts Payable and Accrued Expenses 99,583   101,651                
Advance Rental Payments and Security Deposits 247,951   217,832                
Total Liabilities 9,292,383   9,469,249                
Partners' Capital (3,789,150)   (3,694,352)                
Total Liabilities and Partners' Capital 5,503,233   $ 5,774,897                
Partners' Capital % - NERA     50.00%               50.00%
Investment in Unconsolidated Joint Ventures                     $ 1,533,000
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (1,894,576)   $ (1,847,175)                
Total units/ condominiums                      
Total 40   40               40
Units to be retained | property 40   40                
345 Franklin | NERA 50%                      
LIABILITIES AND PARTNERS' CAPITAL                      
Partners' Capital % - NERA 50.00%                    
345 Franklin | Residential buildings                      
Total units/ condominiums                      
Total | property 40   40                
Hamilton 1025                      
ASSETS                      
Rental Properties $ 82,371   $ 85,635                
Cash and Cash Equivalents 9,776   12,305                
Rents Receivable 7,081   811                
Prepaid Expenses and Other Assets 685   2,129                
Total Assets 99,913   100,880                
LIABILITIES AND PARTNERS' CAPITAL                      
Accounts Payable and Accrued Expenses 2,711   15,038                
Total Liabilities 2,711   15,038                
Partners' Capital 97,202   85,842                
Total Liabilities and Partners' Capital 99,913   $ 100,880                
Partners' Capital % - NERA     50.00%         50.00%      
Investment in Unconsolidated Joint Ventures $ 48,601   $ 42,921         $ 2,352,000      
Total units/ condominiums                      
Total 176   176         176      
Units to be retained 1   1         (49)      
Units to be sold | property 175   175                
Total number of units sold | property 175   175                
Hamilton 1025 | NERA 50%                      
LIABILITIES AND PARTNERS' CAPITAL                      
Partners' Capital % - NERA 50.00%                    
Hamilton 1025 | Residential buildings                      
Total units/ condominiums                      
Total | property 175   175                
Hamilton 1025 | Commercial                      
Total units/ condominiums                      
Total | property 1   1                
Hamilton Minuteman                      
ASSETS                      
Rental Properties $ 4,766,334   $ 5,077,525                
Cash and Cash Equivalents 231,357   210,705                
Rents Receivable 7,285                    
Real Estate Tax Escrows 40,025   31,378                
Prepaid Expenses and Other Assets 30,592   26,428                
Total Assets 5,075,593   5,346,036                
LIABILITIES AND PARTNERS' CAPITAL                      
Mortgage Notes Payable 5,918,506   5,910,322                
Accounts Payable and Accrued Expenses 67,629   64,341                
Advance Rental Payments and Security Deposits 154,400   157,932                
Total Liabilities 6,140,535   6,132,595                
Partners' Capital (1,064,942)   (786,559)                
Total Liabilities and Partners' Capital 5,075,593   $ 5,346,036                
Partners' Capital % - NERA     50.00%           50.00%    
Investment in Unconsolidated Joint Ventures                 $ 5,075,000    
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (532,471)   $ (393,280)                
Total units/ condominiums                      
Total 42   42           42    
Units to be retained | property 42   42                
Hamilton Minuteman | NERA 50%                      
LIABILITIES AND PARTNERS' CAPITAL                      
Partners' Capital % - NERA 50.00%                    
Hamilton Minuteman | Residential buildings                      
Total units/ condominiums                      
Total | property 42   42                
Hamilton on Main Apts                      
ASSETS                      
Rental Properties $ 14,522,033   $ 15,343,928                
Cash and Cash Equivalents 602,344   610,816                
Rents Receivable 38,832   46,780                
Real Estate Tax Escrows 117,318   92,122                
Prepaid Expenses and Other Assets 195,099   162,421                
Total Assets 15,475,626   16,256,067                
LIABILITIES AND PARTNERS' CAPITAL                      
Mortgage Notes Payable 16,853,184   16,837,132                
Accounts Payable and Accrued Expenses 169,515   168,318                
Advance Rental Payments and Security Deposits 474,463   435,679                
Total Liabilities 17,497,162   17,441,129                
Partners' Capital (2,021,536)   (1,185,062)                
Total Liabilities and Partners' Capital 15,475,626   $ 16,256,067                
Partners' Capital % - NERA     50.00%             50.00%  
Investment in Unconsolidated Joint Ventures                   $ 8,000,000  
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (1,010,769)   $ (592,531)                
Total units/ condominiums                      
Total 148   148             280  
Units to be retained | property 148   148                
Hamilton on Main Apts | NERA 50%                      
LIABILITIES AND PARTNERS' CAPITAL                      
Partners' Capital % - NERA 50.00%                    
Hamilton on Main Apts | Residential buildings                      
Total units/ condominiums                      
Total | property 148   148                
Dexter Park                      
ASSETS                      
Rental Properties $ 79,175,187   $ 81,537,329                
Cash and Cash Equivalents 2,135,096   2,870,227                
Rents Receivable 236,721   501,843                
Prepaid Expenses and Other Assets 1,956,585   1,406,740                
Total Assets 83,503,589   86,316,139                
LIABILITIES AND PARTNERS' CAPITAL                      
Mortgage Notes Payable 124,569,180   124,504,557   $ 82,000,000            
Accounts Payable and Accrued Expenses 804,862   762,288                
Advance Rental Payments and Security Deposits 2,427,394   2,053,602                
Total Liabilities 127,801,436   127,320,447                
Partners' Capital (44,297,847)   (41,004,308)                
Total Liabilities and Partners' Capital 83,503,589   $ 86,316,139                
Partners' Capital % - NERA     40.00%     40.00%          
Investment in Unconsolidated Joint Ventures           $ 15,925,000          
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (17,719,140)   $ (16,401,724)                
Total units/ condominiums                      
Total 409   409     409          
Units to be retained | property 409   409                
Dexter Park | NERA 40%                      
LIABILITIES AND PARTNERS' CAPITAL                      
Partners' Capital % - NERA 40.00%                    
Dexter Park | Residential buildings                      
Total units/ condominiums                      
Total | property 409   409