XML 38 R36.htm IDEA: XBRL DOCUMENT
v2.4.0.6

RELATED PARTY TRANSACTIONS (Details) (USD $) | 3 Months Ended | 12 Months Ended |  |  | 3 Months Ended | 12 Months Ended | 3 Months Ended |  | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Mar. 31, 2013 item | Mar. 31, 2012 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2013 Limited Partnerships Minimum | Mar. 31, 2013 Limited Partnerships Maximum | Mar. 31, 2013 General Partner or Management Company | Mar. 31, 2012 General Partner or Management Company | Mar. 31, 2013 Management Company item | Mar. 31, 2012 Management Company | Dec. 31, 2012 Management Company | Mar. 31, 2013 Hamilton Company | Mar. 31, 2013 Dexter Park | Mar. 31, 2013 President of Management Company | Mar. 31, 2012 President of Management Company | Mar. 31, 2013 Harold Brown Minimum | Mar. 31, 2013 Harold Brown Maximum | Dec. 15, 2011 HBC Holdings, LLC | Oct. 01, 2011 HBC Holdings, LLC | Aug. 01, 2011 HBC Holdings, LLC | Aug. 17, 2010 HBC Holdings, LLC | Oct. 28, 2009 HBC Holdings, LLC | Apr. 30, 2012 HBC Holdings, LLC | Feb. 29, 2012 HBC Holdings, LLC | Mar. 31, 2012 HBC Holdings, LLC | Dec. 31, 2010 HBC Holdings, LLC | Dec. 31, 2012 HBC Holdings, LLC | Dec. 31, 2011 HBC Holdings, LLC
RELATED PARTY TRANSACTIONS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Management fee as percentage of gross receipts rental revenue | 4.00% |  |  |  |  |  |  |  |  |  |  | 4.00% | 2.00% |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Management fee as a percentage of gross receipts rental revenue and laundry income | 3.00% |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Management fees of related party | $ 374,000 | $ 352,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs related to professional services |  |  |  |  |  |  | 214,000 | 153,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repairs and maintenance | 1,081,279 | 1,052,344 |  |  |  |  | 88,000 |  |  |  |  | 28,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Administrative expense | 452,619 | 485,493 |  |  |  |  | 88,000 |  |  |  |  | 11,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expenses for construction, architectural services and supervision of capital projects |  |  |  |  |  |  | 38,000 |  |  |  |  | 2,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount paid to related party |  |  |  |  |  |  |  |  |  |  |  | 186,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Management fee | 369,252 | 347,181 |  |  |  |  |  |  |  |  |  | 145,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reimbursement to related party for payroll transfers |  |  |  |  |  |  |  |  | 752,000 | 657,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Employer contributions in 401K plan | 0 |  | 0 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of accounting staff of related party providing bookkeeping and accounting functions |  |  |  |  |  |  |  |  | 14 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fees for accounting and bookkeeping services |  |  |  |  |  |  |  |  | 31,250 |  | 125,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Quarterly fee for asset management consulting services |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,750 | 18,750 |  |  |  |  |  |  |  |  |  |  |  |  |
Number of limited partnerships and limited liability companies in which the entity has invested | 9 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Percentage of ownership interest |  |  |  |  | 40.00% | 50.00% |  |  |  |  |  |  |  |  |  | 43.20% | 57.00% |  |  |  |  |  |  |  |  |  |  |
Number of employees having ownership interest |  |  |  |  |  |  |  |  | 6 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,168,000 |  |  |  |  |  |
Interest rate (as a percent) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6.00% |  |  |  |  |  |
Term of mortgage loan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4 years |  |  |  |  |  |
Notice period demanding early payment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6 months |  |  |  |  |  |
Principal paydown of debt upon notice |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,500,000 |  |  |  |  |  |  |
Repayment of loan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 918,600 |  |  | 2,500,000 |  |
Amount of principal payment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,000,000 | 1,000,000 | 1,000,000 |  |  |  | 750,000 |  |  |  |
Outstanding amount of mortgage loan | 133,867,404 |  | 138,055,522 | 139,691,783 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,668,600
Interest paid | $ 1,869,000 | $ 1,961,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 18,807 |  | $ 18,960 |

X
- Definition Represents the amount of quarterly fee for asset management consulting services. + References No definition available. + Details
Name: | nen_AssetManagementQuarterlyFees
Namespace Prefix: | nen_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Represents the amount of principal to be repaid upon notice as per the request of the lender. + References No definition available. + Details
Name: | nen_DebtInstrumentEarlyPrincipalRepaymentAmountRequestedByLender
Namespace Prefix: | nen_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the period of notice to be served in order to demand earlier payment of debt in whole or in part. + References No definition available. + Details
Name: | nen_DebtInstrumentNoticePeriodToDemandEarlyPayment
Namespace Prefix: | nen_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the term of mortgage loan. + References No definition available. + Details
Name: | nen_DebtInstrumentTerm
Namespace Prefix: | nen_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the number of limited partnerships and limited liability companies in which the entity has made investments. + References No definition available. + Details
Name: | nen_InvestmentsInNumberOfLimitedPartnershipsAndLimitedLiabilityCompanies
Namespace Prefix: | nen_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition This element represents the amount of management fee incurred for payment to a management company during the reporting period. + References No definition available. + Details
Name: | nen_ManagementFees
Namespace Prefix: | nen_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Represents the number of employees other than the President having an ownership interest. + References No definition available. + Details
Name: | nen_NumberOfEmployeesHavingOwnershipInterest
Namespace Prefix: | nen_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the amount charged for bookkeeping and accounting services as included in administrative expenses. + References No definition available. + Details
Name: | nen_RelatedPartyTransactionBookkeepingAndAccountingServicesFee
Namespace Prefix: | nen_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Represents the charge against earnings towards management fees associate with the services provided by related party. + References No definition available. + Details
Name: | nen_RelatedPartyTransactionManagementFee
Namespace Prefix: | nen_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Represents the management fees expressed as a percentage of Linewt. + References No definition available. + Details
Name: | nen_RelatedPartyTransactionManagementFeeAsPercentageOfLineweight
Namespace Prefix: | nen_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the management fee expressed as a percentage of rental revenues from properties owned. + References No definition available. + Details
Name: | nen_RelatedPartyTransactionManagementFeeAsPercentageOfPropertyRentalRevenueAndLaundryIncome
Namespace Prefix: | nen_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the number of employees who perform accounting and bookkeeping functions. + References No definition available. + Details
Name: | nen_RelatedPartyTransactionNumberOfAccountingStaff
Namespace Prefix: | nen_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the amount reimbursed to related party for transfer of employee payroll. + References No definition available. + Details
Name: | nen_RelatedPartyTransactionReimbursementToRelatedPartyForEmployeePayroll
Namespace Prefix: | nen_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
Name: | us-gaap_CostOfPropertyRepairsAndMaintenance
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Decrease for amounts repaid on the debt instrument for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(f)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph f -Article 4 + Details
Name: | us-gaap_DebtInstrumentDecreaseRepayments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Increase of additional borrowings on existing and new debt instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(f)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph f -Article 4 + Details
Name: | us-gaap_DebtInstrumentIncreaseAdditionalBorrowings
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Interest rate stated in the contractual debt agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of the required periodic payments applied to principal. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 + Details
Name: | us-gaap_DebtInstrumentPeriodicPaymentPrincipal
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The amount of the cost recognized during the period for defined contribution plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6414718&loc=d3e28014-114942 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 11 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_DefinedContributionPlanCostRecognized
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 18 -Subparagraph f -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -Subparagraph a (1) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_EquityMethodInvestmentOwnershipPercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.4) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
Name: | us-gaap_GeneralAndAdministrativeExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The amount of cash paid for interest during the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 29 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 25 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3536-108585 + Details
Name: | us-gaap_InterestPaid
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07.2(a),(b),(c),(d)) -URI http://asc.fasb.org/extlink&oid=6488393&loc=d3e606610-122999 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 225 -Section 45 -Paragraph 3 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=6488370&loc=d3e13550-115849 + Details
Name: | us-gaap_ProfessionalFees
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of transactions with related party during the financial reporting period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 57 -Paragraph 2 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_RelatedPartyTransactionAmountsOfTransaction
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Expenses recognized resulting from transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 57 -Paragraph 2 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 + Details
Name: | us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Details
Name: | us-gaap_RelatedPartyTransactionLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 16 -Article 9 + Details
Name: | us-gaap_SecuredDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant