XML 69 R59.htm IDEA: XBRL DOCUMENT v3.8.0.1
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Balance Sheet) (Details)
Mar. 31, 2018
USD ($)
property
item
Dec. 31, 2017
USD ($)
item
Mar. 31, 2017
USD ($)
item
Oct. 28, 2009
USD ($)
item
Oct. 03, 2005
USD ($)
item
Mar. 07, 2005
item
Mar. 02, 2005
USD ($)
item
Sep. 30, 2004
USD ($)
item
Aug. 31, 2004
USD ($)
item
Nov. 30, 2001
USD ($)
item
ASSETS                    
Rental Properties     $ 141,066,471              
Cash & Cash Equivalents     2,423,420              
Rent Receivable     203,506              
Real Estate Tax Escrow     656,876              
Prepaid Expenses & Other Assets     2,090,797              
Total Assets     146,441,070              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable     125,320,159              
Accounts Payable and Accrued Expenses     980,329              
Advance Rental Payments and Security Deposits     3,853,054              
Total Liabilities     130,153,542              
Partners' Capital     16,287,528              
Total Liabilities and Capital     146,441,070              
Investment in Unconsolidated Joint Ventures $ 6,986,470 $ 7,212,044 9,955,145              
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture (2,933,844) $ (2,806,319) (2,636,410)              
Total Investment in Unconsolidated Joint Ventures (Net)     $ 7,318,735              
Total units/ condominiums                    
Total | item     1,033              
Units to be retained | item     690              
Units to be sold | item     343              
Units sold | item     264              
Unsold units | item     79              
Units unsold with deposits for future sale | item     14              
Residential buildings                    
Total units/ condominiums                    
Total | item     1,030              
Commercial                    
Total units/ condominiums                    
Total | item     3              
Investment Properties                    
ASSETS                    
Rental Properties 131,325,750                  
Cash & Cash Equivalents 1,652,736                  
Rent Receivable 410,459                  
Real Estate Tax Escrow 665,426                  
Prepaid Expenses & Other Assets 4,193,283                  
Total Assets 138,247,654                  
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 123,720,733                  
Accounts Payable and Accrued Expenses 1,042,477                  
Advance Rental Payments and Security Deposits 3,652,076                  
Total Liabilities 128,415,286                  
Partners' Capital 9,831,368                  
Total Liabilities and Capital 138,246,654                  
Investment in Unconsolidated Joint Ventures 6,986,470                  
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture (2,933,844)                  
Total Investment in Unconsolidated Joint Ventures (Net) $ 4,052,626                  
Total units/ condominiums                    
Total | property 1,033                  
Units to be retained | property 690                  
Units to be sold | property 343                  
Units sold | property 205                  
Unsold units | property 18                  
Units unsold with deposits for future sale | property 6                  
Investment Properties | Residential buildings                    
Total units/ condominiums                    
Total | property 1,030                  
Investment Properties | Commercial                    
Total units/ condominiums                    
Total | property 3                  
Hamilton Essex 81                    
ASSETS                    
Rental Properties     $ 7,907,838              
Cash & Cash Equivalents     158,945              
Rent Receivable     17,373              
Real Estate Tax Escrow     119,722              
Prepaid Expenses & Other Assets     96,193              
Total Assets     8,300,071              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable $ 9,896,582   9,882,793              
Accounts Payable and Accrued Expenses     48,972              
Advance Rental Payments and Security Deposits     232,421              
Total Liabilities     10,164,186              
Partners' Capital     (1,864,115)              
Total Liabilities and Capital     $ 8,300,071              
Partners' Capital % - NERA     50.00%              
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture     $ (932,058)              
Total units/ condominiums                    
Total | item     49     48        
Units to be retained | item     49              
Hamilton Essex 81 | NERA 50%                    
ASSETS                    
Rental Properties 7,515,492                  
Cash & Cash Equivalents 148,701                  
Rent Receivable 133,580                  
Real Estate Tax Escrow 83,760                  
Prepaid Expenses & Other Assets 80,429                  
Total Assets 7,961,962                  
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 9,896,582                  
Accounts Payable and Accrued Expenses 74,966                  
Advance Rental Payments and Security Deposits 341,039                  
Total Liabilities 10,312,587                  
Partners' Capital (2,349,625)                  
Total Liabilities and Capital $ 7,962,962                  
Partners' Capital % - NERA 50.00%                  
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (1,174,814)                  
Total units/ condominiums                    
Total | property 49                  
Units to be retained | property 49                  
Hamilton Essex 81 | Residential buildings                    
Total units/ condominiums                    
Total | item     48              
Hamilton Essex 81 | Residential buildings | NERA 50%                    
Total units/ condominiums                    
Total | property 48                  
Hamilton Essex 81 | Commercial                    
Total units/ condominiums                    
Total | item     1              
Hamilton Essex 81 | Commercial | NERA 50%                    
Total units/ condominiums                    
Total | property 1                  
Hamilton Essex Development                    
ASSETS                    
Rental Properties     $ 2,622,729              
Cash & Cash Equivalents     50,621              
Prepaid Expenses & Other Assets     246              
Total Assets     2,673,596              
LIABILITIES AND PARTNERS' CAPITAL                    
Accounts Payable and Accrued Expenses     623              
Total Liabilities     623              
Partners' Capital     2,672,973              
Total Liabilities and Capital     $ 2,673,596              
Partners' Capital % - NERA     50.00%              
Investment in Unconsolidated Joint Ventures     $ 1,336,486              
Total units/ condominiums                    
Total | item     1              
Units to be retained | item     1              
Hamilton Essex Development | NERA 50%                    
ASSETS                    
Rental Properties $ 2,597,633                  
Cash & Cash Equivalents 50,004                  
Prepaid Expenses & Other Assets 279                  
Total Assets 2,647,916                  
LIABILITIES AND PARTNERS' CAPITAL                    
Accounts Payable and Accrued Expenses 2,188                  
Total Liabilities 2,188                  
Partners' Capital 2,645,728                  
Total Liabilities and Capital $ 2,647,916                  
Partners' Capital % - NERA 50.00%                  
Investment in Unconsolidated Joint Ventures $ 1,322,863                  
Total units/ condominiums                    
Total | property 1                  
Units to be retained | property 1                  
Hamilton Essex Development | Commercial                    
Total units/ condominiums                    
Total | item     1              
Hamilton Essex Development | Commercial | NERA 50%                    
Total units/ condominiums                    
Total | property 1                  
345 Franklin                    
ASSETS                    
Rental Properties     $ 6,542,738              
Cash & Cash Equivalents     70,277              
Rent Receivable     3,496              
Real Estate Tax Escrow     45,948              
Prepaid Expenses & Other Assets     45,250              
Total Assets     6,707,709              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable $ 9,627,636   9,805,791              
Accounts Payable and Accrued Expenses     84,711              
Advance Rental Payments and Security Deposits     225,911              
Total Liabilities     10,116,413              
Partners' Capital     (3,408,704)              
Total Liabilities and Capital     $ 6,707,709              
Partners' Capital % - NERA     50.00%             50.00%
Investment in Unconsolidated Joint Ventures                   $ 1,533,000
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture     $ (1,704,352)              
Total units/ condominiums                    
Total | item     40             40
Units to be retained | item     40              
345 Franklin | NERA 50%                    
ASSETS                    
Rental Properties 6,242,990                  
Cash & Cash Equivalents 123,091                  
Rent Receivable 19,937                  
Real Estate Tax Escrow 46,751                  
Prepaid Expenses & Other Assets 50,269                  
Total Assets 6,483,038                  
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 9,627,636                  
Accounts Payable and Accrued Expenses 87,137                  
Advance Rental Payments and Security Deposits 245,550                  
Total Liabilities 9,960,323                  
Partners' Capital (3,477,285)                  
Total Liabilities and Capital $ 6,483,038                  
Partners' Capital % - NERA 50.00%                  
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (1,738,644)                  
Total units/ condominiums                    
Total | property 40                  
Units to be retained | property 40                  
345 Franklin | Residential buildings                    
Total units/ condominiums                    
Total | item     40              
345 Franklin | Residential buildings | NERA 50%                    
Total units/ condominiums                    
Total | property 40                  
Hamilton 1025                    
ASSETS                    
Rental Properties     $ 3,029,735              
Cash & Cash Equivalents     490,522              
Rent Receivable     12,438              
Prepaid Expenses & Other Assets     131,148              
Total Assets     3,663,843              
LIABILITIES AND PARTNERS' CAPITAL                    
Accounts Payable and Accrued Expenses     15,600              
Advance Rental Payments and Security Deposits     49,544              
Total Liabilities     65,144              
Partners' Capital     3,598,699              
Total Liabilities and Capital     $ 3,663,843              
Partners' Capital % - NERA     50.00%       50.00%      
Investment in Unconsolidated Joint Ventures     $ 1,799,349       $ 2,352,000      
Total units/ condominiums                    
Total | item 10   176       176      
Units to be retained | item     0       (49)      
Units to be sold | item     176              
Units sold | item 8 20 143       127      
Unsold units | item     32              
Units unsold with deposits for future sale | item     4              
Hamilton 1025 | NERA 50%                    
ASSETS                    
Rental Properties $ 887,890                  
Cash & Cash Equivalents 136,822                  
Rent Receivable 6,902                  
Prepaid Expenses & Other Assets 586,555                  
Total Assets 1,618,169                  
LIABILITIES AND PARTNERS' CAPITAL                    
Accounts Payable and Accrued Expenses 8,434                  
Advance Rental Payments and Security Deposits 12,555                  
Total Liabilities 20,989                  
Partners' Capital 1,597,180                  
Total Liabilities and Capital $ 1,618,169                  
Partners' Capital % - NERA 50.00%                  
Investment in Unconsolidated Joint Ventures $ 798,589                  
Total units/ condominiums                    
Total | property 176                  
Units to be sold | property 175                  
Units sold | property 167                  
Unsold units | property 8                  
Units unsold with deposits for future sale | property 3                  
Hamilton 1025 | Residential buildings                    
Total units/ condominiums                    
Total | item     175              
Hamilton 1025 | Residential buildings | NERA 50%                    
Total units/ condominiums                    
Total | property 175                  
Hamilton 1025 | Commercial                    
Total units/ condominiums                    
Total | item     1              
Hamilton 1025 | Commercial | NERA 50%                    
Total units/ condominiums                    
Total | property 1                  
Hamilton Bay Sales                    
ASSETS                    
Rental Properties     $ 145,134              
Cash & Cash Equivalents     88              
Rent Receivable     225              
Prepaid Expenses & Other Assets     16,480              
Total Assets     161,927              
LIABILITIES AND PARTNERS' CAPITAL                    
Accounts Payable and Accrued Expenses     2,330              
Advance Rental Payments and Security Deposits     101              
Total Liabilities     2,431              
Partners' Capital     159,496              
Total Liabilities and Capital     $ 161,927              
Partners' Capital % - NERA     50.00%              
Investment in Unconsolidated Joint Ventures     $ 79,747              
Total units/ condominiums                    
Total | item     120              
Units to be sold | item     120              
Units sold | item     120              
Unsold units | item     0              
Hamilton Bay Sales | Residential buildings                    
Total units/ condominiums                    
Total | item     120              
Hamilton Bay Apts                    
ASSETS                    
Rental Properties     $ 5,848,498              
Cash & Cash Equivalents     17,718              
Rent Receivable     5,844              
Real Estate Tax Escrow     17,849              
Prepaid Expenses & Other Assets     103,595              
Total Assets     5,993,504              
LIABILITIES AND PARTNERS' CAPITAL                    
Accounts Payable and Accrued Expenses     5,782              
Advance Rental Payments and Security Deposits     75,660              
Total Liabilities     81,442              
Partners' Capital     5,912,062              
Total Liabilities and Capital     $ 5,993,504              
Partners' Capital % - NERA     50.00%   50.00%          
Investment in Unconsolidated Joint Ventures     $ 2,956,030   $ 2,500,000          
Total units/ condominiums                    
Total | item     48   168          
Units to be retained | item     0   (48)          
Units to be sold | item     46              
Units sold | item     1   120          
Unsold units | item     47              
Units unsold with deposits for future sale | item     10              
Hamilton Bay Apts | NERA 50%                    
ASSETS                    
Rental Properties $ 1,583,448                  
Cash & Cash Equivalents 122,350                  
Rent Receivable 2,463                  
Real Estate Tax Escrow 0                  
Prepaid Expenses & Other Assets 693,936                  
Total Assets 2,402,197                  
LIABILITIES AND PARTNERS' CAPITAL                    
Accounts Payable and Accrued Expenses 9,554                  
Advance Rental Payments and Security Deposits 10,975                  
Total Liabilities 20,529                  
Partners' Capital 2,381,668                  
Total Liabilities and Capital $ 2,402,197                  
Partners' Capital % - NERA 50.00%                  
Investment in Unconsolidated Joint Ventures $ 1,190,833                  
Total units/ condominiums                    
Total | property 48                  
Units to be sold | property 48                  
Units sold | property 38                  
Unsold units | property 10                  
Units unsold with deposits for future sale | property 3                  
Hamilton Bay Apts | Residential buildings                    
Total units/ condominiums                    
Total | item     48              
Hamilton Bay Apts | Residential buildings | NERA 50%                    
Total units/ condominiums                    
Total | property 48                  
Hamilton Minuteman                    
ASSETS                    
Rental Properties     $ 6,095,634              
Cash & Cash Equivalents     60,393              
Rent Receivable     1,152              
Real Estate Tax Escrow     19,048              
Prepaid Expenses & Other Assets     31,844              
Total Assets     6,208,071              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable $ 5,889,863   5,881,680              
Accounts Payable and Accrued Expenses     61,455              
Advance Rental Payments and Security Deposits     124,719              
Total Liabilities     6,067,854              
Partners' Capital     140,217              
Total Liabilities and Capital     $ 6,208,071              
Partners' Capital % - NERA     50.00%         50.00%    
Investment in Unconsolidated Joint Ventures     $ 70,108         $ 5,075,000    
Total units/ condominiums                    
Total | item     42         42    
Units to be retained | item     42              
Hamilton Minuteman | NERA 50%                    
ASSETS                    
Rental Properties 5,854,350                  
Cash & Cash Equivalents 107,268                  
Rent Receivable 5,206                  
Real Estate Tax Escrow 32,229                  
Prepaid Expenses & Other Assets 17,475                  
Total Assets 6,016,528                  
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 5,889,863                  
Accounts Payable and Accrued Expenses 55,333                  
Advance Rental Payments and Security Deposits 112,103                  
Total Liabilities 6,057,299                  
Partners' Capital (40,771)                  
Total Liabilities and Capital $ 6,016,528                  
Partners' Capital % - NERA 50.00%                  
Distribution and Loss in Excess of investments in Unconsolidated Joint Venture $ (20,387)                  
Total units/ condominiums                    
Total | property 42                  
Units to be retained | property 42                  
Hamilton Minuteman | Residential buildings                    
Total units/ condominiums                    
Total | item     42              
Hamilton Minuteman | Residential buildings | NERA 50%                    
Total units/ condominiums                    
Total | property 42                  
Hamilton on Main Apts                    
ASSETS                    
Rental Properties     $ 17,593,862              
Cash & Cash Equivalents     214,895              
Rent Receivable     11,479              
Real Estate Tax Escrow     213,815              
Prepaid Expenses & Other Assets     107,642              
Total Assets     18,141,693              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable $ 16,797,004   16,780,953              
Accounts Payable and Accrued Expenses     153,499              
Advance Rental Payments and Security Deposits     380,586              
Total Liabilities     17,315,038              
Partners' Capital     826,655              
Total Liabilities and Capital     $ 18,141,693              
Partners' Capital % - NERA     50.00%           50.00%  
Investment in Unconsolidated Joint Ventures     $ 413,328           $ 8,000,000  
Total units/ condominiums                    
Total | item     148           280  
Units to be retained | item     148              
Units sold | item                 137  
Hamilton on Main Apts | NERA 50%                    
ASSETS                    
Rental Properties 17,359,777                  
Cash & Cash Equivalents 102,710                  
Rent Receivable 21,196                  
Real Estate Tax Escrow 152,782                  
Prepaid Expenses & Other Assets 95,705                  
Total Assets 17,732,170                  
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 16,797,004                  
Accounts Payable and Accrued Expenses 169,932                  
Advance Rental Payments and Security Deposits 321,274                  
Total Liabilities 17,288,210                  
Partners' Capital 443,960                  
Total Liabilities and Capital $ 17,732,170                  
Partners' Capital % - NERA 50.00%                  
Investment in Unconsolidated Joint Ventures $ 221,979                  
Total units/ condominiums                    
Total | property 148                  
Units to be retained | property 148                  
Hamilton on Main Apts | Residential buildings                    
Total units/ condominiums                    
Total | item     148              
Hamilton on Main Apts | Residential buildings | NERA 50%                    
Total units/ condominiums                    
Total | property 148                  
Dexter Park                    
ASSETS                    
Rental Properties     $ 91,280,303              
Cash & Cash Equivalents     1,359,961              
Rent Receivable     151,499              
Real Estate Tax Escrow     240,494              
Prepaid Expenses & Other Assets     1,558,399              
Total Assets     94,590,656              
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable $ 81,509,648   82,968,942              
Accounts Payable and Accrued Expenses     607,357              
Advance Rental Payments and Security Deposits     2,764,112              
Total Liabilities     86,340,411              
Partners' Capital     8,250,245              
Total Liabilities and Capital     $ 94,590,656              
Partners' Capital % - NERA     40.00% 40.00%            
Investment in Unconsolidated Joint Ventures     $ 3,300,098 $ 15,925,000            
Total units/ condominiums                    
Total | item     409 409            
Units to be retained | item     409              
Dexter Park | NERA 40%                    
ASSETS                    
Rental Properties 89,284,170                  
Cash & Cash Equivalents 861,790                  
Rent Receivable 221,175                  
Real Estate Tax Escrow 349,904                  
Prepaid Expenses & Other Assets 2,668,635                  
Total Assets 93,385,674                  
LIABILITIES AND PARTNERS' CAPITAL                    
Mortgage Notes Payable 81,509,648                  
Accounts Payable and Accrued Expenses 634,933                  
Advance Rental Payments and Security Deposits 2,608,580                  
Total Liabilities 84,753,161                  
Partners' Capital 8,630,513                  
Total Liabilities and Capital $ 93,383,674                  
Partners' Capital % - NERA 40.00%                  
Investment in Unconsolidated Joint Ventures $ 3,452,204                  
Total units/ condominiums                    
Total | property 409                  
Units to be retained | property 409                  
Dexter Park | Residential buildings                    
Total units/ condominiums                    
Total | item     409              
Dexter Park | Residential buildings | NERA 40%                    
Total units/ condominiums                    
Total | property 409