CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (4,916,726)	$ (3,664,280)
Adjustments to reconcile net loss to cash (used in)/provided by operating activities:
Loss from investment in unconsolidated affiliated real estate entity	108,507	220,834
Depreciation and amortization	907,534	271,098
Amortization of deferred financing costs	225,664	119,891
Non-cash interest expense	1,480,436
Changes in assets and liabilities:
Decrease in accounts receivable and other assets	46,070	477,134
(Decrease)/increase in accounts payable, accrued expenses and other liabilities	(56,073)	5,179,888
Increase in accrued interest on subordinated advances - related party	46,483	46,098
Cash (used in)/provided by operating activities	(2,158,105)	2,650,663
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of investment property	(350,959)	(7,782,803)
Investment in unconsolidated affiliated real estate entity		(41,666)
Cash used in investing activities	(350,959)	(7,824,469)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from mortgage financing	95,056	8,973,465
Payment of loan fees and expenses	(115,500)
Contributions of noncontrolling interests	122,625	56,353
Redemption and cancellation of common stock	(224,660)	(282,538)
Cash (used in)/provided by financing activities	(122,479)	8,747,280
Change in cash, cash equivalents and restricted cash	(2,631,543)	3,573,474
Cash, cash equivalents and restricted cash, beginning of year	7,731,819	9,504,594
Cash, cash equivalents and restricted cash, end of period	5,100,276	13,078,068
Supplemental disclosure of cash flow information:
Cash paid for income tax	16,333	1,138
Cash paid for interest	1,598,316	1,289,391
Capital expenditures for investment property in accounts payable, accrued expenses and other liabilities	35,385	3,487,630
Unpaid interest accrued and capitalized as mortgage payable and investment property		1,060,366
Amortization of deferred financing costs included in investment property		326,103
The following is a summary of the Company’s cash, cash equivalents and restricted cash total as presented in our statements of cash flows for the periods presented:
Cash and cash equivalents	4,094,932	8,639,109
Restricted cash	1,005,344	4,438,959
Total cash, cash equivalents and restricted cash	$ 5,100,276	$ 13,078,068