Note 7 - Real Estate

12 Months Ended

Dec. 31, 2017

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

2017,

the net realizable value of real estate increased by

$4,791,665

which was primarily driven by the increase in value attributable to the entitlement process to date.

  During

2016,

the net realizable value of real estate increased by

$2,336,000

and was adjusted for the sales of

five

buildings in the Port Jefferson Professional Park and the Virginia Healthcare Center.  The valuation of the remaining real estate as of

December 31, 2017

was

$33,016,665.

	2017			2016
Net Realizable Value at beginning of period	$	31,025,000		$	46,950,000
Increases in Net Realizable Value
Port Jefferson Professional Park		150,000			846,000
Cortlandt Manor		1,095,000			475,000
Virginia Health Care Center		-			15,000
Flowerfield		3,546,665			1,000,000
Less Property Sales
Port Jefferson Professional Park		(2,800,000	)		(4,246,000	)
Virginia Health Care Center		-			(14,015,000	)
Net Realizable Value at December 31,	$	33,016,665		$	31,025,000