XML 43 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statements of Income (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Revenue:    
Rent income, from a related party $ 8,391,005 $ 9,104,798
Interest and dividend income 917 772
Total revenue 8,391,922 9,105,570
Expenses:    
Interest on mortgages 2,593,839 2,629,466
Supervisory services, to a related party 408,596 523,865
Depreciation of building and tenant improvements 1,502,213 1,005,398
Amortization of leasing commissions 191,639 184,664
Accounting fees 115,500 70,000
Professional fees 109,560 22,264
Miscellaneous 9,235 3,600
Total expenses 4,930,582 4,439,257
Net income $ 3,461,340 $ 4,666,313
Earnings per $5,000 participation unit, based on 720 participation units outstanding during each year $ 4,807 $ 6,481