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INCOME TAXES (Details) (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Dec. 31, 2013
Current expense      
Federal $ 5,366,975    
State and local 1,805,512    
Total current expense 7,172,487    
Deferred expense/(benefit)      
Federal (1,521,455)    
State and local (361,815)    
Total deferred expense/(benefit) (1,883,270)    
Provision for income tax expense 5,289,217 2,067,763  
Corporate taxes payable 6,661,704   0
NYC UBT taxes receivable (95,815)    
NYC UBT taxes payable     482,324
Reconciliation between the U.S. federal statutory income tax rate and the effective tax rate      
US statutory tax rate (as a percent) 35.00%    
Increase due to state and local taxes (as a percent) 4.65%    
Benefit of partnership income not subject to taxation (as a percent) (17.32%)    
Effective income tax rate (as a percent) 22.33%    
Deferred Tax Assets      
Depreciation 933,065    
Equity based compensation 950,204    
Unrealized gains and losses 297,344    
Deferred Tax Assets, Gross 2,180,613    
Deferred Tax Liabilities      
Unrealized gains and losses 603,294    
Total Deferred Tax Assets 603,294    
Net Deferred Tax Assets/(Liabilities) 1,577,319    
Liability for unrecognized tax benefits for uncertain income tax positions $ 0