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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton Essex) (Details) |  |  |  |  | 9 Months Ended |
--- | --- | --- | --- | --- | --- | ---
Sep. 30, 2025 USD ($) property | Sep. 12, 2016 USD ($) | Sep. 30, 2015 USD ($) | Mar. 07, 2005 USD ($) item | Sep. 30, 2025 USD ($) property | Sep. 30, 2024 USD ($) property | Dec. 31, 2024 USD ($)
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Investments in joint venture | $ 1,405,627 |  |  |  | $ 1,405,627 |  | $ 1,417,470
Repayment of loan |  | $ 5,158,000 |  |  |  |  |
Refinancing costs | 2,930,000 |  |  |  | 2,930,000 |  |
Distribution to the Partnership |  |  |  |  | 15,412,283 | $ 9,844,390 |
Mortgage Notes Payable | $ 511,247,097 |  |  |  | $ 511,247,097 |  | $ 406,205,910
Hamilton Essex 81 |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Number of units | 49 |  |  | 48 | 49 | 49 |
Number of properties in which borrowing amount collateralized | item |  |  |  | 1 |  |  |
Purchase price of real estate properties |  |  |  | $ 14,300,000 |  |  |
Capacity of real estate property (in cars per lot) | item |  |  |  | 50 |  |  |
Refinancing costs | $ 169,967 |  |  |  | $ 169,967 |  |
Basis of interest rate |  |  | one month |  |  |  |
Investment, Variable Interest Rate, Type [Extensible Enumeration] |  |  | nen:LiborMember |  |  |  |
Distribution to the Partnership |  |  | $ 978,193 |  |  |  |
Mortgage Notes Payable | $ 12,044,033 |  |  |  | $ 12,044,033 | $ 9,986,211 |
Hamilton Essex 81 | Maximum |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Carrying value |  |  | $ 0 |  |  |  |
Hamilton Essex Development |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Number of units | property | 1 |  |  |  | 1 | 1 |
Hamilton Essex 81 |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Investments in joint venture |  |  |  | $ 2,000,000 |  |  |
Ownership interest (as a percent) |  |  |  | 50.00% |  |  |
Mortgages payable | Maximum |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Interest rate (as a percent) | 5.99% |  |  |  | 5.99% |  |
Mortgages payable | Hamilton Essex 81 |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Margin over basis of interest rate (as a percent) |  |  | 2.18% |  |  |  |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] |  |  | nen:LiborMember |  |  |  |
Repayment of loan | $ 10,000,000 |  |  |  |  |  |
Cash reserves | 2,210,000 |  |  |  | $ 2,210,000 |  |
Mortgage amount | $ 12,214,000 |  | $ 10,000,000 |  | $ 12,214,000 |  |
Interest rate (as a percent) | 5.61% |  |  |  | 5.61% |  |
Term of debt |  |  | 10 years |  | 10 years |  |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] |  |  | nen:LiborMember |  |  |  |
Mortgage Notes Payable | $ 12,214,000 |  |  |  | $ 12,214,000 |  |
Borrowings |  |  |  | $ 10,750,000 |  |  |
Mortgages payable | Hamilton Essex Development, LLC and Hamilton Essex 81, LLC |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Repayment of loan |  |  | $ 8,040,719 |  |  |  |

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