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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Net loss $ (6,162,536) $ (2,579,659)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Non cash compensation 121,483 0
Reduction of deferred compensation agreements (593,750) 0
Write off of mortgages receivable 5,006  
Net gain from sales of discontinued operations 0 (2,063,395)
Net loss on securities held for sale 63,238  
Net gain on transfer of autos (24,399) 0
Net gain on sale of coop (9,667) 0
Net gain on sale of mortgage portfolio (3,264,724) 0
Realized loss on pension termination 4,399,085 0
Termination of Postretirement benefit plan (408,086) 0
Gain on settlement of joint venture loans 0 (150,000)
Equity in the loss from joint ventures 991,106 833,378
Impairment of note receivable   750,000
Impairment of joint venture investment 771,119  
Depreciation and amortization 572,688 540,078
Net change in revenue related to acquired lease rights/obligations and deferred rent receivable 23,006 (4,724)
Amortization of discounts on notes and fees (4,358) (15,929)
Stock Based compensation 49,333 0
Issuance of stock to directors and officers 16,955 47,375
Changes in assets and liabilities:    
Decrease (increase) in other receivables 144,817 (48,989)
(Decrease) increase in accounts payable and accrued liabilities (1,162,669) 374,181
Decrease in Defined benefit plan liability (2,851,665) 0
Decrease in contractual pension benefits (344,479)  
Increase in mortgage interest and fees 456,512  
Increase (decrease) in other liabilities 84,911 (19,938)
Decrease in prepaid expenses, deposits in escrow and deferred charges 612,063 170,942
Decrease (increase) in other assets 6,339 (15,339)
Total adjustments (346,136) 397,640
Net cash used in operating activities (6,508,672) (2,182,019)
Cash Flows from Investing Activities:    
Payments received on notes receivable 10,927 29,902
Purchase of non-rental property (39,584)  
Proceeds from sales of properties 0 2,349,691
Payments received on settlement of joint venture loans 0 650,000
Payments disbursed for additions and improvements (140,515) (171,423)
Proceeds from sale of Coop 21,806 0
Proceeds from sale of Consolidated notes 5,339,718 0
Sale of securities available for sale 2,793,836 0
Proceeds from sales of securities 0 762,724
Net cash provided by investing activities 7,986,188 3,620,894
Cash Flows from Financing Activities:    
Principal payments on mortgage debt (109,553) (2,671,783)
Sale of Class B shares 250,000 0
Distributions (1,191,988) 0
Proceeds of mortgage refinancing 0 1,250,000
Payments disbursed for mortgage costs 0 (40,660)
Net cash used in financing activities (1,051,541) (1,462,443)
Net Increase ( Decrease) in Cash and Cash Equivalents 425,975 (23,568)
Cash and Cash Equivalents, Beginning of Year 761,106 784,674
Cash and Cash Equivalents, End of Year 1,187,081 761,106
Supplemental cash flow information:    
Interest paid in cash 268,467 1,164,986
Taxes paid $ 0 $ 0