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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Mortgage Maturities) (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016
--- | --- | --- | ---
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
3/31/2019 | $ 197,742 |  |
3/31/2020 | 205,532 |  |
3/31/2021 | 213,629 |  |
3/31/2022 | 222,044 |  |
3/31/2023 | 230,791 |  |
Thereafter | 166,382,775 |  |
Total | 167,452,513 |  |
Less: unamortized deferred financing costs | (959,821) |  |
Debt maturities net of unamortized deferred financing costs | $ 166,492,692 | $ 124,145,012 | $ 130,152,298
Weighted average interest rate (as a percent) | 3.87% |  |
Effective interest rate (as a percent) | 3.98% |  |
Hamilton Essex 81 |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
Thereafter | $ 10,000,000 |  |
Total | 10,000,000 |  |
Less: unamortized deferred financing costs | (93,076) |  |
Debt maturities net of unamortized deferred financing costs | 9,906,924 | 9,893,135 | 9,879,346
345 Franklin |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
3/31/2019 | 197,742 |  |
3/31/2020 | 205,532 |  |
3/31/2021 | 213,629 |  |
3/31/2022 | 222,044 |  |
3/31/2023 | 230,791 |  |
Thereafter | 8,482,775 |  |
Total | 9,552,513 |  |
Less: unamortized deferred financing costs | (63,256) |  |
Debt maturities net of unamortized deferred financing costs | 9,489,257 | 9,672,846 | 9,849,225
Hamilton Bay Apts |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
Debt maturities net of unamortized deferred financing costs |  |  | 4,430,574
Hamilton Minuteman |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
Thereafter | 6,000,000 |  |
Total | 6,000,000 |  |
Less: unamortized deferred financing costs | (103,999) |  |
Debt maturities net of unamortized deferred financing costs | 5,896,001 | 5,887,818 | 5,879,634
Hamilton on Main Apts |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
Thereafter | 16,900,000 |  |
Total | 16,900,000 |  |
Less: unamortized deferred financing costs | (90,957) |  |
Debt maturities net of unamortized deferred financing costs | 16,809,043 | 16,792,991 | 16,776,940
Dexter Park |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |
Thereafter | 125,000,000 |  |
Total | 125,000,000 |  |
Less: unamortized deferred financing costs | (608,533) |  |
Debt maturities net of unamortized deferred financing costs | $ 124,391,467 | $ 81,898,222 | $ 83,336,579

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