INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Details 4) (USD $)	Dec. 31, 2014
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
12/31/2015	$ 135,000
12/31/2016	1,183,000
12/31/2017	1,782,000
12/31/2018	7,860,000
12/31/2019	1,942,000
Thereafter	183,170,000
Total	196,072,000us-gaap_LongTermDebt
Weighted average interest rate (as a percent)	5.28%
Effective interest rate (as a percent)	5.33%
Hamilton Essex 81
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
12/31/2015	143,239
12/31/2016	7,966,437
Total	8,109,676
Hamilton Essex 81 Development
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
12/31/2015	1,987,830
Total	1,987,830
345 Franklin
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
12/31/2016	86,413
12/31/2017	183,627
12/31/2018	190,861
12/31/2019	198,380
Thereafter	9,340,719
Total	10,000,000
Hamilton 1025
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
12/31/2015	72,721
12/31/2016	4,733,318
Total	4,806,039
Hamilton Bay Apartments
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
12/31/2015	74,790
12/31/2016	77,805
12/31/2017	4,421,408
Total	4,574,003
Hamilton Minuteman
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
12/31/2015	79,647
12/31/2016	83,493
12/31/2017	5,129,371
Total	5,292,511
Hamilton on Main Apts
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
Thereafter	16,900,000
Total	16,900,000
Dexter Park
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
12/31/2015	1,541,094
12/31/2016	1,507,291
12/31/2017	1,593,424
12/31/2018	1,684,479
12/31/2019	79,914,524
Total	86,240,812
Total
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
12/31/2015	3,899,321
12/31/2016	14,454,757
12/31/2017	11,327,830
12/31/2018	1,875,340
12/31/2019	80,112,904
Thereafter	26,240,719
Total	$ 137,910,871

Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.

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