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MORTGAGE LOANS AND NOTES PAYABLE (Tables) - Mortgage Loans | 12 Months Ended
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Dec. 31, 2023
Summary of debt | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying Value as of | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | Effective | ​ | Maturity
Mortgage Loans and Notes Payable |  | 2023 |  | 2022 |  | Interest Rate | ​ | Date
​ | ​ | (in thousands) | ​ | ​ | ​ | ​ | ​
Nashville V, TN (1) | ​ | $ | — | ​ | $ | 2,148 | ​ | 3.85 | % | ​ | Jun-23
New York, NY (1) | ​ | ​ | — | ​ | ​ | 28,669 | ​ | 3.51 | % | ​ | Jun-23
Annapolis I, MD | ​ | ​ | 4,703 | ​ | ​ | 4,906 | ​ | 3.78 | % | ​ | May-24
Brooklyn XV, NY | ​ | ​ | 14,746 | ​ | ​ | 15,093 | ​ | 2.15 | % | ​ | May-24
Long Island City IV, NY | ​ | ​ | 11,946 | ​ | ​ | 12,270 | ​ | 2.15 | % | ​ | May-24
Long Island City II, NY | ​ | ​ | 17,834 | ​ | ​ | 18,283 | ​ | 2.25 | % | ​ | Jul-26
Long Island City III, NY | ​ | ​ | 17,839 | ​ | ​ | 18,290 | ​ | 2.25 | % | ​ | Aug-26
Flushing II, NY | ​ | ​ | 54,300 | ​ | ​ | 54,300 | ​ | 2.15 | % | ​ | Jul-29
Principal balance outstanding | ​ | ​ | 121,368 | ​ | ​ | 153,959 | ​ | ​ | ​ | ​ | ​
Plus: Unamortized fair value adjustment | ​ | ​ | 7,689 | ​ |  | 10,228 | ​ | ​ | ​ | ​ | ​
Less: Loan procurement costs, net | ​ | ​ | (871) | ​ | ​ | (1,269) | ​ | ​ | ​ | ​ | ​
Total mortgage loans and notes payable, net | ​ | $ | 128,186 | ​ | $ | 162,918 | ​ | ​ | ​ | ​ | ​
Schedule of the future principal payment requirements on the outstanding mortgage loans and notes payable | ​
​ | ​ | ​ | ​
2024 |  | $ | 32,329
2025 | ​ |  | 979
2026 | ​ |  | 33,760
2027 | ​ |  | —
2028 | ​ |  | —
2029 | ​ |  | 54,300
Total principal payments | ​ | $ | 121,368
​

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481544/470-10-50-1 + Details
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