XML 68 R59.htm IDEA: XBRL DOCUMENT v3.22.4
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Mortgage Maturities) (Details) - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Sep. 30, 2021
May 31, 2018
Oct. 13, 2016
Annual maturities of mortgage debt          
2023-current maturities $ 8,583,000        
2024 2,749,000        
2025 3,260,000        
2026 25,209,000        
2027 3,121,000        
Thereafter 371,767,000        
Total 414,689,000        
Less: unamortized deferred financing costs (3,213,000)        
Secured Debt $ 411,475,632 $ 370,481,390      
Weighted average interest rate (as a percent) 4.05%        
Effective interest rate (as a percent) 4.12%        
Investment Properties          
Annual maturities of mortgage debt          
2023-current maturities $ 228,573        
2024 17,137,577        
2025 10,246,936        
2026 256,664        
2027 266,775        
Thereafter 138,533,358        
Total 166,669,883        
Less: unamortized deferred financing costs (549,925)        
Secured Debt 166,119,958   $ 166,230,563    
Hamilton Essex 81          
Annual maturities of mortgage debt          
2025 10,000,000        
Total 10,000,000        
Less: unamortized deferred financing costs (41,367)        
Secured Debt 9,958,633   9,944,844    
345 Franklin          
Annual maturities of mortgage debt          
2023-current maturities 228,573        
2024 237,577        
2025 246,936        
2026 256,664        
2027 266,775        
Thereafter 7,533,358        
Total 8,769,883        
Less: unamortized deferred financing costs (38,286)        
Secured Debt 8,731,598   8,944,849    
Hamilton Minuteman          
Annual maturities of mortgage debt          
Thereafter 6,000,000        
Total 6,000,000        
Less: unamortized deferred financing costs (73,311)       $ (123,000)
Secured Debt 5,926,689   5,918,506    
Hamilton on Main Apts          
Annual maturities of mortgage debt          
2024 16,900,000        
Total 16,900,000        
Less: unamortized deferred financing costs (30,765)        
Secured Debt 16,869,235   16,853,184    
Dexter Park          
Annual maturities of mortgage debt          
Thereafter 125,000,000        
Total 125,000,000        
Less: unamortized deferred financing costs (366,196)        
Secured Debt $ 124,633,803   $ 124,569,180 $ 82,000,000