XML 80 R70.htm IDEA: XBRL DOCUMENT v3.25.2
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Income) (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Rental Income $ 21,037,991 $ 19,841,559 $ 41,534,111 $ 39,551,991
Laundry and Sundry Income 202,117 209,007 394,891 391,974
Total Revenues 21,240,108 20,050,566 41,929,002 39,943,965
Expenses        
Administrative 667,913 651,978 1,289,179 1,413,997
Depreciation and Amortization 4,474,748 4,277,482 8,379,730 8,505,064
Management Fees 834,431 782,856 1,652,840 1,571,463
Operating 1,704,150 1,638,816 4,982,524 4,284,310
Renting 256,198 150,772 534,527 538,371
Repairs and Maintenance 3,481,815 3,500,467 6,340,084 6,348,424
Taxes and Insurance 2,757,280 2,510,031 5,453,097 4,992,399
Total Expenses 14,176,535 13,512,402 28,631,981 27,654,028
Income Before Other Income (Expense) 7,063,573 6,538,164 13,297,021 12,289,937
Other Income (Loss)        
Interest income 737,413 1,112,988 1,728,487 2,290,536
Total Other Income (Expense) (2,913,692) (2,465,438) (5,351,422) (4,753,615)
Net Income 4,149,881 4,072,726 7,945,599 7,536,322
Investment Properties        
Revenues        
Rental Income 6,966,423 6,573,448 13,980,728 13,280,729
Laundry and Sundry Income 70,716 66,014 128,286 126,890
Total Revenues 7,037,139 6,639,462 14,109,014 13,407,619
Expenses        
Administrative 87,331 98,396 249,965 183,532
Depreciation and Amortization 1,499,467 1,484,963 2,982,084 2,948,685
Management Fees 191,999 181,488 385,500 369,175
Operating 522,932 551,127 1,344,755 1,278,099
Renting 64,326 65,856 157,522 136,717
Repairs and Maintenance 660,322 824,689 1,248,161 1,415,996
Taxes and Insurance 1,019,724 954,957 2,039,935 1,878,700
Total Expenses 4,046,101 4,161,476 8,407,922 8,210,904
Income Before Other Income (Expense) 2,991,038   5,701,092 5,196,715
Other Income (Loss)        
Interest Expense (1,920,230) (1,802,252) (3,827,094) (3,633,187)
Interest income 61,766 51,331 113,259 100,890
Other Income       63,745
Total Other Income (Expense) (1,858,464) (1,750,921) (3,713,835) (3,468,552)
Net Income   727,065 1,987,257 1,728,163
Proportionate share of net income (loss) 485,051 321,269 847,679 762,560
Investment Properties | NERA 50%        
Other Income (Loss)        
Net Income 1,132,574      
Proportionate share of net income (loss)   152,230 263,878 356,475
Investment Properties | NERA 40%        
Other Income (Loss)        
Proportionate share of net income (loss)   169,039 583,801 406,085
Hamilton Essex 81        
Revenues        
Rental Income 493,808 450,375 998,349 918,853
Laundry and Sundry Income 2,734 3,568 5,091 6,344
Total Revenues 496,542 453,943 1,003,440 925,197
Expenses        
Administrative 6,235 5,325 15,191 10,543
Depreciation and Amortization 116,036 116,067 231,944 231,911
Management Fees 19,403 16,759 39,691 37,186
Operating 74,151 93,958 172,413 176,997
Renting 9,998 6,395 10,217 7,634
Repairs and Maintenance 42,911 56,162 84,844 94,619
Taxes and Insurance 74,563 94,622 148,755 163,965
Total Expenses 343,297 389,288 703,055 722,855
Income Before Other Income (Expense) 153,245   300,385 202,342
Other Income (Loss)        
Interest Expense (173,048) (197,041) (344,358) (394,241)
Interest income 9,620 10,829 19,472 21,250
Total Other Income (Expense) (163,428) (186,212) (324,886) (372,991)
Net Income   (121,557) (24,501) (170,649)
Hamilton Essex 81 | NERA 50%        
Other Income (Loss)        
Net Income (10,183)      
Proportionate share of net income (loss)   (60,780) (12,250) (85,324)
Hamilton Essex Development        
Revenues        
Rental Income 60,471 60,471 120,942 120,942
Total Revenues 60,471 60,471 120,942 120,942
Expenses        
Administrative 1,005 1,000 2,011 3,000
Depreciation and Amortization 2,928 2,928 5,855 5,855
Management Fees 2,529 1,653 5,058 4,132
Taxes and Insurance 17,423 17,600 34,773 35,192
Total Expenses 23,885 23,181 47,697 48,179
Income Before Other Income (Expense) 36,586   73,245 72,763
Other Income (Loss)        
Interest income 341 419 682 1,190
Total Other Income (Expense) 341 419 682 1,190
Net Income   37,709 73,927 73,953
Hamilton Essex Development | NERA 50%        
Other Income (Loss)        
Net Income 36,927      
Proportionate share of net income (loss)   18,854 36,964 36,976
345 Franklin        
Revenues        
Rental Income 457,180 447,328 960,298 891,084
Laundry and Sundry Income   (242)   (236)
Total Revenues 457,180 447,086 960,298 890,848
Expenses        
Administrative 7,594 6,059 21,560 14,979
Depreciation and Amortization 87,631 86,398 174,660 172,796
Management Fees 17,629 17,537 36,692 34,954
Operating 28,420 15,519 67,248 41,384
Renting 5,537 5,681 36,277 9,776
Repairs and Maintenance 33,958 21,838 68,790 44,882
Taxes and Insurance 47,993 50,195 95,999 99,480
Total Expenses 228,762 203,227 501,226 418,251
Income Before Other Income (Expense) 228,418   459,072 472,597
Other Income (Loss)        
Interest Expense (82,376) (84,238) (164,862) (169,105)
Interest income 1,867 2,268 3,897 4,629
Total Other Income (Expense) (80,509) (81,970) (160,965) (164,476)
Net Income   161,889 298,107 308,121
345 Franklin | NERA 50%        
Other Income (Loss)        
Net Income 147,909      
Proportionate share of net income (loss)   80,944 149,053 154,060
Hamilton 1025        
Revenues        
Rental Income 24,918 24,745 49,835 51,633
Total Revenues 24,918 24,745 49,835 51,633
Expenses        
Administrative 2,050 700 2,876 1,401
Depreciation and Amortization 816 816 1,632 1,632
Management Fees 1,030 1,006 2,060 2,068
Operating 59 174 59 (38)
Renting 48 45 68 63
Repairs and Maintenance   1,650   1,650
Taxes and Insurance 5,024 5,498 9,737 10,174
Total Expenses 9,027 9,889 16,432 16,950
Income Before Other Income (Expense) 15,891   33,403 34,683
Other Income (Loss)        
Interest Expense   (205)    
Interest income 133 418 288 418
Total Other Income (Expense) 133 213 288 418
Net Income   15,069 33,691 35,101
Hamilton 1025 | NERA 50%        
Other Income (Loss)        
Net Income 16,024      
Proportionate share of net income (loss)   7,535 16,845 17,550
Hamilton Minuteman Apts        
Revenues        
Rental Income 375,471 360,169 743,084 711,617
Total Revenues 375,471 360,169 743,084 711,617
Expenses        
Administrative 5,014 3,384 16,369 10,318
Depreciation and Amortization 86,129 83,272 170,946 166,005
Management Fees 15,298 14,079 29,578 28,309
Operating 23,121 19,202 80,485 64,776
Renting 3,801 4,161 9,267 9,691
Repairs and Maintenance 38,645 31,880 61,422 61,165
Taxes and Insurance 40,525 39,588 80,492 78,756
Total Expenses 212,533 195,566 448,559 419,020
Income Before Other Income (Expense) 162,938   294,525 292,597
Other Income (Loss)        
Interest Expense (58,927) (59,144) (117,222) (118,295)
Interest income 2,775 2,980 4,960 5,463
Total Other Income (Expense) (56,152) (56,164) (112,262) (112,832)
Net Income   108,439 182,263 179,765
Hamilton Minuteman Apts | NERA 50%        
Other Income (Loss)        
Net Income 106,786      
Proportionate share of net income (loss)   54,220 91,132 89,883
Hamilton on Main Apts        
Revenues        
Rental Income 1,070,467 1,049,070 2,176,046 2,057,301
Laundry and Sundry Income 14,146 12,580 29,211 25,244
Total Revenues 1,084,613 1,061,650 2,205,257 2,082,545
Expenses        
Administrative 8,170 33,819 48,363 43,143
Depreciation and Amortization 287,273 272,073 573,175 533,325
Management Fees 43,065 42,043 86,031 82,234
Operating 102,489 110,070 290,502 244,472
Renting 22,273 29,150 54,477 56,737
Repairs and Maintenance 149,182 183,947 295,861 330,278
Taxes and Insurance 120,874 105,451 240,454 206,992
Total Expenses 733,326 776,553 1,588,863 1,497,181
Income Before Other Income (Expense) 351,287   616,394 585,364
Other Income (Loss)        
Interest Expense (332,246) (191,983) (660,946) (385,098)
Interest income 3,693 9,801 8,821 22,651
Other Income       63,745
Total Other Income (Expense) (328,553) (182,182) (652,125) (298,702)
Net Income   102,915 (35,731) 286,662
Hamilton on Main Apts | NERA 50%        
Other Income (Loss)        
Net Income 22,734      
Proportionate share of net income (loss)   51,459 (17,866) 143,331
Dexter Park        
Revenues        
Rental Income 4,484,108 4,181,290 8,932,174 8,529,299
Laundry and Sundry Income 53,836 50,108 93,984 95,538
Total Revenues 4,537,944 4,231,398 9,026,158 8,624,837
Expenses        
Administrative 57,263 48,109 143,595 100,148
Depreciation and Amortization 918,654 923,409 1,823,872 1,837,161
Management Fees 93,045 88,411 186,390 180,292
Operating 294,692 312,204 734,048 750,508
Renting 22,669 20,424 47,216 52,816
Repairs and Maintenance 395,626 529,212 737,244 883,402
Taxes and Insurance 713,322 642,003 1,429,725 1,284,141
Total Expenses 2,495,271 2,563,772 5,102,090 5,088,468
Income Before Other Income (Expense) 2,042,673   3,924,068 3,536,369
Other Income (Loss)        
Interest Expense (1,273,633) (1,269,641) (2,539,706) (2,566,448)
Interest income 43,337 24,616 75,139 45,289
Total Other Income (Expense) (1,230,296) (1,245,025) (2,464,567) (2,521,159)
Net Income   422,601 1,459,503 1,015,210
Dexter Park | NERA 50%        
Other Income (Loss)        
Net Income $ 812,377      
Dexter Park | NERA 40%        
Other Income (Loss)        
Proportionate share of net income (loss)   $ 169,039 $ 583,801 $ 406,085
NERA 50%        
Other Income (Loss)        
Ownership interest (as a percent) 50.00% 50.00% 50.00% 50.00%
NERA 50% | Investment Properties        
Other Income (Loss)        
Proportionate share of net income (loss) $ 160,100      
NERA 50% | Hamilton Essex 81        
Other Income (Loss)        
Proportionate share of net income (loss) (5,092)      
NERA 50% | Hamilton Essex Development        
Other Income (Loss)        
Proportionate share of net income (loss) 18,464      
NERA 50% | 345 Franklin        
Other Income (Loss)        
Proportionate share of net income (loss) 73,955      
NERA 50% | Hamilton 1025        
Other Income (Loss)        
Proportionate share of net income (loss) 8,012      
NERA 50% | Hamilton Minuteman Apts        
Other Income (Loss)        
Proportionate share of net income (loss) 53,393      
NERA 50% | Hamilton on Main Apts        
Other Income (Loss)        
Proportionate share of net income (loss) $ 11,368      
NERA 40%        
Other Income (Loss)        
Ownership interest (as a percent) 40.00% 40.00% 40.00% 40.00%
NERA 40% | Investment Properties | NERA 40%        
Other Income (Loss)        
Proportionate share of net income (loss) $ 324,952      
NERA 40% | Dexter Park | NERA 40%        
Other Income (Loss)        
Proportionate share of net income (loss) $ 324,952