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v3.23.1

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Mortgage Maturities) (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | May 31, 2018 | Oct. 13, 2016
--- | --- | --- | --- | --- | ---
Annual maturities of mortgage debt |  |  |  |  |
2024-current maturities | $ 2,753,000 |  |  |  |
2025 | 3,014,000 |  |  |  |
2026 | 22,063,000 |  |  |  |
2027 | 6,625,000 |  |  |  |
2028 | 23,163,000 |  |  |  |
Thereafter | 355,895,000 |  |  |  |
Total | 413,513,000 |  |  |  |
Less: unamortized deferred financing costs | (3,064,000) |  |  |  |
Secured Debt | $ 410,449,284 | $ 410,966,199 |  |  |
Weighted average interest rate (as a percent) | 4.18% |  |  |  |
Effective interest rate (as a percent) | 4.25% |  |  |  |
Investment Properties |  |  |  |  |
Annual maturities of mortgage debt |  |  |  |  |
2024-current maturities | $ 233,032 |  |  |  |
2025 | 17,142,212 |  |  |  |
2026 | 10,251,753 |  |  |  |
2027 | 261,671 |  |  |  |
2028 | 271,979 |  |  |  |
Thereafter | 138,396,055 |  |  |  |
Total | 166,556,702 |  |  |  |
Less: unamortized deferred financing costs | (495,273) |  |  |  |
Secured Debt | 166,061,429 |  | $ 166,176,323 |  |
Hamilton Essex 81 |  |  |  |  |
Annual maturities of mortgage debt |  |  |  |  |
2026 | 10,000,000 |  |  |  |
Total | 10,000,000 |  |  |  |
Less: unamortized deferred financing costs | (34,473) |  |  |  |
Secured Debt | 9,965,527 |  | 9,951,738 |  |
345 Franklin |  |  |  |  |
Annual maturities of mortgage debt |  |  |  |  |
2024-current maturities | 233,032 |  |  |  |
2025 | 242,212 |  |  |  |
2026 | 251,753 |  |  |  |
2027 | 261,671 |  |  |  |
2028 | 271,979 |  |  |  |
Thereafter | 7,396,055 |  |  |  |
Total | 8,656,702 |  |  |  |
Less: unamortized deferred financing costs | (34,957) |  |  |  |
Secured Debt | 8,621,745 |  | 8,839,286 |  |
Hamilton Minuteman |  |  |  |  |
Annual maturities of mortgage debt |  |  |  |  |
Thereafter | 6,000,000 |  |  |  |
Total | 6,000,000 |  |  |  |
Less: unamortized deferred financing costs | (69,219) |  |  |  | $ (123,000)
Secured Debt | 5,930,781 |  | 5,922,598 |  |
Hamilton on Main Apts |  |  |  |  |
Annual maturities of mortgage debt |  |  |  |  |
2025 | 16,900,000 |  |  |  |
Total | 16,900,000 |  |  |  |
Less: unamortized deferred financing costs | (22,739) |  |  |  |
Secured Debt | 16,877,261 |  | 16,861,209 |  |
Dexter Park |  |  |  |  |
Annual maturities of mortgage debt |  |  |  |  |
Thereafter | 125,000,000 |  |  |  |
Total | 125,000,000 |  |  |  |
Less: unamortized deferred financing costs | (333,885) |  |  |  |
Secured Debt | $ 124,666,115 |  | $ 124,601,492 | $ 82,000,000 |

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