Sale of Properties

6 Months Ended

Sep. 30, 2017

Sale of Properties

Sale Of Properties

NOTE 4 – Sale of Properties

On May 15, 2017, the Partnership sold its limited partnership interest in Renaissance Plaza ’93 Associates LP., (“Renaissance”) to an affiliate of the Local General Partner for a sale price of $35,000. The sale resulted in a gain of approximately $15,255,000 resulting from the write off of the deficit basis in the Local Partnership of the same amount at the date of the sale, which was recorded during the quarter ended June 30, 2017.