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Investments in Unconsolidated Joint Ventures - Statement of operations (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Rental revenues $ 1,460,000 $ 1,477,000 $ 4,396,000 $ 3,968,000
Total revenues 10,651,000 19,006,000 32,052,000 32,710,000
Operating Expenses        
Property operating expenses 786,000 1,220,000 2,864,000 2,790,000
Real estate taxes 668,000 486,000 1,582,000 1,292,000
General and administrative 1,511,000 1,431,000 4,790,000 4,436,000
Total operating expenses 13,894,000 21,015,000 40,046,000 39,242,000
Operating loss (3,243,000) (2,009,000) (7,994,000) (6,532,000)
Interest expense (7,901,000) (3,549,000) (21,423,000) (9,613,000)
Interest expense - amortization of deferred finance costs (758,000) (763,000) (2,583,000) (1,577,000)
Net loss attributable to common stockholders $ (11,888,000) (6,353,000) (29,044,000) (11,707,000)
Unconsolidated Joint Ventures        
Operating Expenses        
Our equity in net (loss) income from unconsolidated joint ventures   (14,000)   5,292
Unconsolidated Joint Ventures        
Revenues        
Rental revenues   2,617,000 1,788 8,639
Total revenues   2,617,000 1,788 8,639
Operating Expenses        
Property operating expenses   879,000 563 2,760
Real estate taxes   15,000 10 57
General and administrative       (10)
Amortization   449,000 299 1,525
Depreciation   654,000 437 2,377
Total operating expenses   1,997,000 1,309 6,709
Gain on sale of real estate       8,981
Operating loss   620,000 479 10,911
Gain on sale of interest rate swap       2,005
Interest expense   (717,000) (483) (2,429)
Interest expense - amortization of deferred finance costs   (46,000) (31) (174)
Interest (expense) income - change in fair market value of interest rate swap       (153)
Net loss attributable to common stockholders   $ (143,000) $ (35) $ 10,466