XML 82 R71.htm IDEA: XBRL DOCUMENT v3.22.4
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Balance Sheet) (Details)
Dec. 31, 2022
USD ($)
property
Dec. 31, 2021
USD ($)
property
Dec. 31, 2020
USD ($)
property
Dec. 31, 2019
USD ($)
May 31, 2018
USD ($)
Oct. 28, 2009
item
Mar. 07, 2005
item
Mar. 02, 2005
item
Sep. 30, 2004
item
Aug. 31, 2004
item
ASSETS                    
Rental Properties $ 241,076,431 $ 251,355,202                
Cash and Cash Equivalents 49,560,723 96,083,508                
Rents Receivable 655,814 935,303                
Real Estate Tax Escrows 1,943,680 861,697                
Prepaid Expenses and Other Assets 8,814,112 6,183,981                
Total Assets 391,820,280 356,875,579                
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 410,966,199 370,481,390                
Accounts Payable and Accrued Expenses 7,271,729 4,324,879                
Advance Rental Payments and Security Deposits 9,032,580 8,369,497                
Total Liabilities 451,689,637 406,168,186                
Partners' Capital (59,869,357) (49,292,607) $ (41,469,045) $ (37,823,788)            
Total Liabilities and Partners' Capital 391,820,280 356,875,579                
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture (24,419,129) (22,992,420)                
Investment Properties                    
ASSETS                    
Rental Properties 107,135,557 111,783,510 115,699,932              
Cash and Cash Equivalents 7,055,942 3,391,632 3,582,550              
Rents Receivable 403,902 537,327 653,051              
Real Estate Tax Escrows 267,947 252,689 233,125              
Prepaid Expenses and Other Assets 2,988,297 2,789,752 2,094,682              
Total Assets 117,851,645 118,754,910 122,263,340              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 166,090,968 166,203,707 166,308,029              
Accounts Payable and Accrued Expenses 3,047,643 1,033,689 1,045,804              
Advance Rental Payments and Security Deposits 4,165,573 3,525,469 3,214,958              
Total Liabilities 173,304,184 170,762,865 170,568,791              
Partners' Capital (55,452,539) (52,007,955) (48,305,451)              
Total Liabilities and Partners' Capital 117,851,645 118,754,910 122,263,340              
Investment in Unconsolidated Joint Ventures 1,437,387 1,455,888 1,410,770              
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture (24,419,129) (22,992,420) (21,339,743)              
Total Investment in Unconsolidated Joint Ventures (Net) $ (22,981,742) $ (21,536,532) $ (19,928,974)              
Total units/ condominiums                    
Total | property 690 690 865              
Units to be retained | property 690 690 690              
Total number of units sold | property 175 175                
Investment Properties | Residential buildings                    
Total units/ condominiums                    
Total | property 687 687 862              
Investment Properties | Commercial                    
Total units/ condominiums                    
Total | property 3 3 3              
Hamilton Essex 81                    
ASSETS                    
Rental Properties $ 5,829,640 $ 6,263,331 $ 6,649,177              
Cash and Cash Equivalents 985,849 333,699 252,878              
Rents Receivable 202,221 232,521 28,181              
Real Estate Tax Escrows 74,423 76,651 71,203              
Prepaid Expenses and Other Assets 321,912 301,043 281,503              
Total Assets 7,414,045 7,207,245 7,282,942              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 9,962,080 9,948,291 9,934,502              
Accounts Payable and Accrued Expenses 165,576 68,265 68,741              
Advance Rental Payments and Security Deposits 310,443 180,497 208,851              
Total Liabilities 10,438,099 10,197,053 10,212,094              
Partners' Capital (3,024,054) (2,989,808) (2,929,152)              
Total Liabilities and Partners' Capital $ 7,414,045 $ 7,207,245 $ 7,282,942              
Partners' Capital %-NERA 50.00% 50.00% 50.00%              
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (1,512,027) $ (1,494,905) $ (1,464,576)              
Total units/ condominiums                    
Total 49 49 49       48      
Units to be retained | property 49 49 49              
Hamilton Essex 81 | Residential buildings                    
Total units/ condominiums                    
Total | property 48 48 48              
Hamilton Essex 81 | Commercial                    
Total units/ condominiums                    
Total | property 1 1 1              
Hamilton Essex Development                    
ASSETS                    
Rental Properties $ 2,585,680 $ 2,588,169 $ 2,590,659              
Cash and Cash Equivalents 110,907 98,674 55,322              
Rents Receivable 78,436 68,828                
Prepaid Expenses and Other Assets 53,316 62,399 80,008              
Total Assets 2,828,339 2,818,070 2,725,989              
LIABILITIES AND PARTNERS' CAPITAL                    
Accounts Payable and Accrued Expenses 43,000 3,000 3,200              
Total Liabilities 43,000 3,000 3,200              
Partners' Capital 2,785,339 2,815,070 2,722,789              
Total Liabilities and Partners' Capital $ 2,828,339 $ 2,818,070 $ 2,725,989              
Partners' Capital %-NERA 50.00% 50.00% 50.00%              
Investment in Unconsolidated Joint Ventures $ 1,392,669 $ 1,407,535 $ 1,361,395              
Total units/ condominiums                    
Total | property 1 1 1              
Units to be retained | property 1 1 1              
Hamilton Essex Development | Commercial                    
Total units/ condominiums                    
Total | property 1 1 1              
345 Franklin                    
ASSETS                    
Rental Properties $ 4,810,934 $ 5,062,602 $ 5,373,751              
Cash and Cash Equivalents 358,016 155,627 156,073              
Rents Receivable   9,905 37,127              
Real Estate Tax Escrows 27,771 29,999 19,874              
Prepaid Expenses and Other Assets 111,018 117,197 89,636              
Total Assets 5,307,739 5,375,330 5,676,461              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 8,676,945 8,892,331 9,099,301              
Accounts Payable and Accrued Expenses 84,025 52,392 87,731              
Advance Rental Payments and Security Deposits 269,326 228,803 227,908              
Total Liabilities 9,030,296 9,173,526 9,414,940              
Partners' Capital (3,722,557) (3,798,196) (3,738,479)              
Total Liabilities and Partners' Capital $ 5,307,739 $ 5,375,330 $ 5,676,461              
Partners' Capital %-NERA 50.00% 50.00% 50.00%              
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (1,861,278) $ (1,899,098) $ (1,869,240)              
Total units/ condominiums                    
Total | property 40 40 40              
Units to be retained | property 40 40 40              
345 Franklin | Residential buildings                    
Total units/ condominiums                    
Total | property 40 40 40              
Hamilton 1025                    
ASSETS                    
Rental Properties $ 78,291 $ 81,555 $ 84,819              
Cash and Cash Equivalents 29,065 11,845 13,443              
Rents Receivable 4,915 6,111 3,005              
Prepaid Expenses and Other Assets 493 446 407              
Total Assets 112,764 99,957 101,674              
LIABILITIES AND PARTNERS' CAPITAL                    
Accounts Payable and Accrued Expenses 23,329 3,251 2,924              
Total Liabilities 23,329 3,251 2,924              
Partners' Capital 89,435 96,706 98,750              
Total Liabilities and Partners' Capital $ 112,764 $ 99,957 $ 101,674              
Partners' Capital %-NERA 50.00% 50.00% 50.00%              
Investment in Unconsolidated Joint Ventures $ 44,718 $ 48,353 $ 49,375              
Total units/ condominiums                    
Total 1 176 176         176    
Units to be retained 1 1 1         (49)    
Total number of units sold | property 175 175                
Hamilton 1025 | Residential buildings                    
Total units/ condominiums                    
Total | property   0 175              
Hamilton 1025 | Commercial                    
Total units/ condominiums                    
Total | property 1 1 1              
Hamilton Minuteman                    
ASSETS                    
Rental Properties $ 4,467,772 $ 4,697,616 $ 4,998,436              
Cash and Cash Equivalents 328,742 156,058 159,599              
Rents Receivable 2,600 6,999 3,816              
Real Estate Tax Escrows 34,842 36,451 35,849              
Prepaid Expenses and Other Assets 26,238 24,009 23,198              
Total Assets 4,860,194 4,921,133 5,220,898              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 5,928,736 5,920,552 5,912,368              
Accounts Payable and Accrued Expenses 162,623 48,145 50,514              
Advance Rental Payments and Security Deposits 171,680 159,324 137,792              
Total Liabilities 6,263,039 6,128,021 6,100,674              
Partners' Capital (1,402,845) (1,206,888) (879,776)              
Total Liabilities and Partners' Capital $ 4,860,194 $ 4,921,133 $ 5,220,898              
Partners' Capital %-NERA 50.00% 50.00% 50.00%              
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (701,422) $ (603,445) $ (439,888)              
Total units/ condominiums                    
Total 42 42 42           42  
Units to be retained | property 42 42 42              
Hamilton Minuteman | Residential buildings                    
Total units/ condominiums                    
Total | property 42 42 42              
Hamilton on Main Apts                    
ASSETS                    
Rental Properties $ 13,456,133 $ 14,334,539 $ 15,239,672              
Cash and Cash Equivalents 1,377,250 565,171 520,150              
Rents Receivable 9,565 37,750 65,511              
Real Estate Tax Escrows 130,911 109,588 106,199              
Prepaid Expenses and Other Assets 186,990 181,941 148,796              
Total Assets 15,160,849 15,228,989 16,080,328              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 16,873,248 16,857,197 16,841,145              
Accounts Payable and Accrued Expenses 556,239 188,012 156,923              
Advance Rental Payments and Security Deposits 463,963 434,126 424,314              
Total Liabilities 17,893,450 17,479,335 17,422,382              
Partners' Capital (2,732,601) (2,250,346) (1,342,054)              
Total Liabilities and Partners' Capital $ 15,160,849 $ 15,228,989 $ 16,080,328              
Partners' Capital %-NERA 50.00% 50.00% 50.00%              
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (1,366,300) $ (1,125,174) $ (671,027)              
Total units/ condominiums                    
Total 148 148 148             280
Units to be retained | property 148 148 148              
Hamilton on Main Apts | Residential buildings                    
Total units/ condominiums                    
Total | property 148 148 148              
Dexter Park                    
ASSETS                    
Rental Properties $ 75,907,107 $ 78,755,698 $ 80,763,418              
Cash and Cash Equivalents 3,866,113 2,070,558 2,425,085              
Rents Receivable 106,165 175,213 515,411              
Prepaid Expenses and Other Assets 2,288,330 2,102,717 1,471,134              
Total Assets 82,167,715 83,104,186 85,175,048              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 124,649,959 124,585,336 124,520,713   $ 82,000,000          
Accounts Payable and Accrued Expenses 2,012,851 670,624 675,771              
Advance Rental Payments and Security Deposits 2,950,161 2,522,719 2,216,093              
Total Liabilities 129,612,971 127,778,679 127,412,577              
Partners' Capital (47,445,256) (44,674,493) (42,237,529)              
Total Liabilities and Partners' Capital $ 82,167,715 $ 83,104,186 $ 85,175,048              
Partners' Capital %-NERA 40.00% 40.00% 40.00%              
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (18,978,102) $ (17,869,798) $ (16,895,012)              
Total units/ condominiums                    
Total 409 409 409     409        
Units to be retained | property 409 409 409              
Dexter Park | Residential buildings                    
Total units/ condominiums                    
Total | property 409 409 409