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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton Essex) (Details) |  |  |  | 12 Months Ended |
--- | --- | --- | --- | --- | ---
Sep. 30, 2015 USD ($) | Sep. 28, 2015 USD ($) | Mar. 07, 2005 USD ($) item | Dec. 31, 2015 USD ($) | Dec. 31, 2014 USD ($) | Dec. 31, 2013 USD ($) | Mar. 31, 2005 USD ($)
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Investments in joint venture |  |  |  | $ 7,819,162 | $ 8,807,868 | $ 12,025,144 |
Distribution to the Partnership |  |  |  | $ 3,785,883 | $ 3,858,386 | $ 3,893,662 |
Hamilton Essex Development, LLC and Hamilton Essex 81, LLC |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Investments in joint venture |  |  | $ 2,000,000 |  |  |  |
Ownership interest (as a percent) |  |  | 50.00% |  |  |  |
Purchase price of real estate properties |  |  | $ 14,300,000 |  |  |  |
Hamilton Essex Development, LLC and Hamilton Essex 81, LLC | Mortgage, March 2005 |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Mortgage amount |  |  |  |  |  |  | $ 10,750,000
Repayment of loan | $ 8,040,719 |  |  |  |  |  |
Hamilton Essex 81 | Mortgage, 2.18% Plus LIBOR, September 2015 |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Mortgage amount | $ 10,000,000 |  |  |  |  |  |
Hamilton Essex 81 | LIBOR | Mortgage, 2.18% Plus LIBOR, September 2015 |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Margin over basis of interest rate (as a percent) | 2.18% |  |  |  |  |  |
Basis of interest rate | one month LIBOR |  |  |  |  |  |
Hamilton Essex Development | Mortgage, March 2005 |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Repayment of loan |  | $ 1,952,286 |  |  |  |  |
Apartment | Hamilton Essex Development, LLC and Hamilton Essex 81, LLC |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Number of units | item |  |  | 48 |  |  |  |
Commercial | Hamilton Essex Development, LLC and Hamilton Essex 81, LLC |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Number of units | item |  |  | 1 |  |  |  |
Car parking lot | Hamilton Essex Development, LLC and Hamilton Essex 81, LLC |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Capacity of real estate property (in cars per lot) | item |  |  | 50 |  |  |  |

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- Definition This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35755396&loc=d3e33749-111570 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 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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