XML 92 R80.htm IDEA: XBRL DOCUMENT v3.25.0.1
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Balance Sheet) (Details)
Dec. 31, 2024
USD ($)
property
Dec. 31, 2023
USD ($)
property
Dec. 31, 2022
USD ($)
property
Dec. 31, 2021
USD ($)
May 31, 2018
USD ($)
Oct. 28, 2009
item
Mar. 07, 2005
item
Mar. 02, 2005
item
Sep. 30, 2004
item
ASSETS                  
Rental Properties $ 278,516,649 $ 269,804,946              
Cash & Cash Equivalents 17,615,940 18,230,463              
Rent Receivable 1,220,761 953,761              
Real Estate Tax Escrow 2,598,073 2,229,703              
Prepaid Expenses & Other Assets 8,553,360 8,369,775              
Total Assets 393,508,658 385,730,690              
LIABILITIES AND PARTNERS' CAPITAL                  
Mortgage Notes Payable 406,205,910 408,660,292              
Accounts Payable & Accrued Expense 9,004,962 5,720,088              
Advance Rental Pmts & Security Deposits 10,199,807 9,996,887              
Total Liabilities 455,942,560 451,085,074              
Partners' Capital (62,433,902) (65,354,384) $ (59,869,357) $ (49,292,608)          
Total Liabilities and Partners' Capital 393,508,658 385,730,690              
Distribution and Loss in Excess of investments in Unconsolidated Joint Ventures (30,531,881) (26,707,807)              
Investment Properties                  
ASSETS                  
Rental Properties 99,952,914 102,406,871 107,135,557            
Cash & Cash Equivalents 5,745,266 4,678,735 7,055,942            
Rent Receivable 426,558 433,138 403,902            
Real Estate Tax Escrow 139,958 276,474 267,947            
Prepaid Expenses & Other Assets 3,339,393 3,211,400 2,988,297            
Total Assets 109,604,089 111,006,618 117,851,645            
LIABILITIES AND PARTNERS' CAPITAL                  
Mortgage Notes Payable 172,287,696 165,969,481 166,090,968            
Accounts Payable & Accrued Expense 1,446,667 1,359,083 3,047,643            
Advance Rental Pmts & Security Deposits 4,541,297 4,370,346 4,165,573            
Total Liabilities 178,275,660 171,698,910 173,304,184            
Partners' Capital (68,671,571) (60,692,292) (55,452,539)            
Total Liabilities and Partners' Capital 109,604,089 111,006,618 117,851,645            
Investment in Unconsolidated Joint Ventures 1,417,470 1,441,291 1,437,387            
Distribution and Loss in Excess of investments in Unconsolidated Joint Ventures (30,531,881) (26,707,807) (24,419,129)            
Total Investment in Unconsolidated Joint Ventures (Net) $ (29,114,411) $ (25,266,517) $ (22,981,742)            
Total units/ condominiums                  
Total | property 690 690 690            
Investment Properties | Apartments                  
Total units/ condominiums                  
Total | property 687 687 687            
Investment Properties | Commercial                  
Total units/ condominiums                  
Total | property 3 3 3            
Hamilton Essex 81                  
ASSETS                  
Rental Properties $ 5,004,114 $ 5,403,706 $ 5,829,640            
Cash & Cash Equivalents 1,443,698 1,141,751 985,849            
Rent Receivable 202,234 208,968 202,221            
Real Estate Tax Escrow 74,949 75,475 74,423            
Prepaid Expenses & Other Assets 312,911 320,627 321,912            
Total Assets 7,037,906 7,150,527 7,414,045            
LIABILITIES AND PARTNERS' CAPITAL                  
Mortgage Notes Payable 9,989,658 9,975,869 9,962,080            
Accounts Payable & Accrued Expense 297,308 141,743 165,576            
Advance Rental Pmts & Security Deposits 372,656 337,593 310,443            
Total Liabilities 10,659,622 10,455,205 10,438,099            
Partners' Capital (3,621,716) (3,304,678) (3,024,054)            
Total Liabilities and Partners' Capital $ 7,037,906 $ 7,150,527 $ 7,414,045            
Partners' Capital %-NERA 50.00% 50.00% 50.00%            
Distribution and Loss in Excess of investments in Unconsolidated Joint Ventures $ (1,810,859) $ (1,652,340) $ (1,512,027)            
Total units/ condominiums                  
Total 49 49 49       48    
Hamilton Essex 81 | Apartments                  
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 $ 2,580,701 $ 2,583,190 $ 2,585,680            
Cash & Cash Equivalents 63,207 108,348 110,907            
Rent Receivable 71,060 78,753 78,436            
Prepaid Expenses & Other Assets 35,021 44,182 53,316            
Total Assets 2,749,989 2,814,473 2,828,339            
LIABILITIES AND PARTNERS' CAPITAL                  
Accounts Payable & Accrued Expense 4,000 3,000 43,000            
Advance Rental Pmts & Security Deposits   20,660              
Total Liabilities 4,000 23,660 43,000            
Partners' Capital 2,745,989 2,790,813 2,785,339            
Total Liabilities and Partners' Capital $ 2,749,989 $ 2,814,473 $ 2,828,339            
Partners' Capital %-NERA 50.00% 50.00% 50.00%            
Investment in Unconsolidated Joint Ventures $ 1,372,994 $ 1,395,406 $ 1,392,670            
Total units/ condominiums                  
Total | property 1 1 1            
Hamilton Essex Development | Commercial                  
Total units/ condominiums                  
Total | property 1 1 1            
345 Franklin                  
ASSETS                  
Rental Properties $ 4,157,090 $ 4,481,606 $ 4,810,934            
Cash & Cash Equivalents 165,608 155,557 358,016            
Rent Receivable 2,679 117              
Real Estate Tax Escrow 37,432 29,290 27,771            
Prepaid Expenses & Other Assets 78,348 73,604 111,018            
Total Assets 4,441,157 4,740,174 5,307,739            
LIABILITIES AND PARTNERS' CAPITAL                  
Mortgage Notes Payable 8,219,587 8,452,812 8,676,945            
Accounts Payable & Accrued Expense 82,623 64,335 84,025            
Advance Rental Pmts & Security Deposits 262,266 304,499 269,326            
Total Liabilities 8,564,476 8,821,646 9,030,296            
Partners' Capital (4,123,319) (4,081,472) (3,722,557)            
Total Liabilities and Partners' Capital $ 4,441,157 $ 4,740,174 $ 5,307,739            
Partners' Capital %-NERA 50.00% 50.00% 50.00%            
Distribution and Loss in Excess of investments in Unconsolidated Joint Ventures $ (2,061,661) $ (2,040,737) $ (1,861,278)            
Total units/ condominiums                  
Total | property 40 40 40            
345 Franklin | Apartments                  
Total units/ condominiums                  
Total | property 40 40 40            
Hamilton 1025                  
ASSETS                  
Rental Properties $ 71,763 $ 75,027 $ 78,291            
Cash & Cash Equivalents 18,352 16,339 29,065            
Rent Receivable 1,655 4,120 4,915            
Prepaid Expenses & Other Assets 515 505 493            
Total Assets 92,285 95,991 112,764            
LIABILITIES AND PARTNERS' CAPITAL                  
Accounts Payable & Accrued Expense 3,332 3,486 23,329            
Advance Rental Pmts & Security Deposits   735              
Total Liabilities 3,332 4,221 23,329            
Partners' Capital 88,953 91,770 89,435            
Total Liabilities and Partners' Capital $ 92,285 $ 95,991 $ 112,764            
Partners' Capital %-NERA 50.00% 50.00% 50.00%            
Investment in Unconsolidated Joint Ventures $ 44,477 $ 45,885 $ 44,718            
Total units/ condominiums                  
Total 1 1 1         176  
Units to be retained | item               49  
Hamilton 1025 | Commercial                  
Total units/ condominiums                  
Total | property 1 1 1            
Hamilton Minuteman Apts                  
ASSETS                  
Rental Properties $ 3,922,243 $ 4,190,275 $ 4,467,772            
Cash & Cash Equivalents 204,938 148,334 328,742            
Rent Receivable 2,278 2,957 2,600            
Real Estate Tax Escrow 27,577 34,998 34,842            
Prepaid Expenses & Other Assets 60,979 50,327 26,238            
Total Assets 4,218,015 4,426,891 4,860,194            
LIABILITIES AND PARTNERS' CAPITAL                  
Mortgage Notes Payable 5,945,102 5,936,919 5,928,736            
Accounts Payable & Accrued Expense 53,813 50,990 162,623            
Advance Rental Pmts & Security Deposits 167,307 173,222 171,680            
Total Liabilities 6,166,222 6,161,131 6,263,039            
Partners' Capital (1,948,207) (1,734,240) (1,402,845)            
Total Liabilities and Partners' Capital $ 4,218,015 $ 4,426,891 $ 4,860,194            
Partners' Capital %-NERA 50.00% 50.00% 50.00%            
Distribution and Loss in Excess of investments in Unconsolidated Joint Ventures $ (974,105) $ (867,121) $ (701,422)            
Total units/ condominiums                  
Total 42 42 42           42
Hamilton Minuteman Apts | Apartments                  
Total units/ condominiums                  
Total | property 42 42 42            
Hamilton on Main Apts                  
ASSETS                  
Rental Properties $ 13,644,999 $ 12,493,492 $ 13,456,133            
Cash & Cash Equivalents 632,190 1,204,116 1,377,250            
Rent Receivable 50,479 22,319 9,565            
Real Estate Tax Escrow   136,711 130,911            
Prepaid Expenses & Other Assets 241,814 227,421 186,990            
Total Assets 14,569,482 14,084,059 15,160,849            
LIABILITIES AND PARTNERS' CAPITAL                  
Mortgage Notes Payable 23,354,144 16,889,299 16,873,248            
Accounts Payable & Accrued Expense 305,519 352,780 556,239            
Advance Rental Pmts & Security Deposits 509,294 500,103 463,963            
Total Liabilities 24,168,957 17,742,182 17,893,450            
Partners' Capital (9,599,475) (3,658,123) (2,732,601)            
Total Liabilities and Partners' Capital $ 14,569,482 $ 14,084,059 $ 15,160,849            
Partners' Capital %-NERA 50.00% 50.00% 50.00%            
Distribution and Loss in Excess of investments in Unconsolidated Joint Ventures $ (4,799,739) $ (1,829,063) $ (1,366,300)            
Total units/ condominiums                  
Total | property 148 148 148            
Hamilton on Main Apts | Apartments                  
Total units/ condominiums                  
Total | property 148 148 148            
Dexter Park                  
ASSETS                  
Rental Properties $ 70,572,004 $ 73,179,575 $ 75,907,107            
Cash & Cash Equivalents 3,217,273 1,904,290 3,866,113            
Rent Receivable 96,173 115,904 106,165            
Prepaid Expenses & Other Assets 2,609,805 2,494,734 2,288,330            
Total Assets 76,495,255 77,694,503 82,167,715            
LIABILITIES AND PARTNERS' CAPITAL                  
Mortgage Notes Payable 124,779,205 124,714,582 124,649,959   $ 82,000,000        
Accounts Payable & Accrued Expense 700,072 742,749 2,012,851            
Advance Rental Pmts & Security Deposits 3,229,774 3,033,534 2,950,161            
Total Liabilities 128,709,051 128,490,865 129,612,971            
Partners' Capital (52,213,796) (50,796,362) (47,445,256)            
Total Liabilities and Partners' Capital $ 76,495,255 $ 77,694,503 $ 82,167,715            
Partners' Capital %-NERA 40.00% 40.00% 40.00%            
Distribution and Loss in Excess of investments in Unconsolidated Joint Ventures $ (20,885,518) $ (20,318,546) $ (18,978,102)            
Total units/ condominiums                  
Total 409 409 409     409      
Dexter Park | Apartments                  
Total units/ condominiums                  
Total | property 409 409 409