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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Mortgage Maturities) (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013
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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
12/31/2016 | $ 6,488,320 |  |
12/31/2017 | 11,332,957 |  |
12/31/2018 | 1,875,340 |  |
12/31/2019 | 80,316,111 |  |
12/31/2020 | 206,195 |  |
Thereafter | 36,034,524 |  |
Total | $ 136,253,447 | $ 137,910,871 | $ 137,875,515
Weighted average interest rate (as a percent) | 5.07% |  |
Effective interest rate (as a percent) | 5.16% |  |
Hamilton Essex 81 |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
Thereafter | $ 10,000,000 |  |
Total | 10,000,000 | 8,109,676 | 8,234,548
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 |  |
12/31/2020 | 206,195 |  |
Thereafter | 9,134,524 |  |
Total | 10,000,000 | 10,000,000 | 10,000,000
Hamilton 1025 |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
12/31/2016 | 4,733,318 |  |
Total | 4,733,318 | 4,806,039 | 4,869,583
Hamilton Bay Apts |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
12/31/2016 | 77,805 |  |
12/31/2017 | 4,426,535 |  |
Total | 4,504,340 | 4,574,002 | 4,639,848
Hamilton Minuteman |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
12/31/2016 | 83,493 |  |
12/31/2017 | 5,129,371 |  |
Total | 5,212,864 | 5,292,511 | 5,362,109
Hamilton on Main Apts |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
Thereafter | 16,900,000 |  |
Total | 16,900,000 | 16,900,000 | 15,317,643
Dexter Park |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
12/31/2016 | 1,507,291 |  |
12/31/2017 | 1,593,424 |  |
12/31/2018 | 1,684,479 |  |
12/31/2019 | 80,117,731 |  |
Total | $ 84,902,925 | $ 86,240,813 | $ 87,410,638

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