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LONG-TERM DEBT-MORTGAGES (Tables)
 12 Months Ended
Jul. 31, 2021
LONG-TERM DEBT - MORTGAGES AND TERM LOAN [Abstract]  
Schedule of Long-term Debt
Years Ended July 31,
Current            
Annual Final
Interest Payment
Rate Date 2021         2020  
Mortgage:
Bond St. land and building, Brooklyn, NY (1) 4.375% 12/1/2024 $ 3,817,450 $ 4,829,832
Fishkill land and building (2) 3.980% 4/1/2025 3,832,182 3,967,100
Deferred financing costs (130,855 ) (168,967 )
Total $ 7,518,777 $ 8,627,965
 
(1) In November 2019, the Company refinanced the remaining balance of a $6,000,000, 3.54% interest rate loan with another bank for $5,255,920 plus an additional $144,080 for a total of $5,400,000. The interest rate on the new loan is fixed at 4.375%. The loan is self-liquidating over a period of five years and secured by the Nine Bond Street land and building in Brooklyn, New York.
 
(2) In March 2020, the Company obtained a loan with a bank in the amount of $4,000,000 to finance renovations and brokerage commissions relating to space leased to a community college at the Fishkill, New York building. The loan is secured by the Fishkill, New York land and building; amortized over a 20-year period with an interest rate of 3.98% and is due in five years.
Schedule of Maturities of Long-term Mortgage and Term Loan Payable Outstanding
Maturities of long-term mortgages outstanding at July 31, 2021 are as follows:
 
Year Ended July 31:       Amount
2022 $ 1,198,600
2023 1,252,196
2024 1,308,071
2025 3,890,765
Subtotal 7,649,632
Deferred financing costs (130,855 )
Total $ 7,518,777