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Note 7 - Real Estate
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Real Estate Disclosure [Text Block]
7.
Real Estate
 
The Company reports its financial statements under the liquidation basis of accounting which reflects real estate value at net realizable value (predicated on current asset values). During
2019
and
2018,
the net realizable value of real estate increased by
$12,068,730
and
$3,984,605,
respectively. The
2019
increase is mainly attributable to the Purchase and Sale Agreements entered into in Flowerfield and Cortlandt Manor (see Note
5
). The
2018
increase was primarily driven by the increase in value attributable to the entitlement process. The valuation of the remaining real estate as of
December 31, 2019
was
$48,270,000.
 
   
2019
    
2018
  
Net Realizable Value at beginning of period
   $
36,201,270
     $
33,016,665
  
Increases in Net Realizable Value
  
 
 
 
  
 
 
 
Cortlandt Manor
    
2,010,000
      
1,040,000
  
Flowerfield
    
10,058,730
      
2,944,605
  
Less Property Sales
  
 
 
 
  
 
 
 
Port Jefferson Professional Park
    
-
      
(800,000
 )
Net Realizable Value at December 31,
   $
48,270,000
     $
36,201,270