Loans and Mortgages Payable - Summary of Mortgages Payable (Details) - USD ($)		Mar. 31, 2016	Dec. 31, 2015
Total mortgages before unamortized debt issuance costs		$ 292,140,344	$ 286,637,096
Unamortized debt issuance costs		(3,497,708)	(3,587,294)
Mortgages, net of unamortized debt issuance costs		$ 288,642,636	$ 283,049,802
Percentage of mortgages rate		4.50%	4.50%
Mortgages, net of unamortized debt issuance costs percentage		4.50%	4.60%
Fixed Rate Mortgages [Member]
Total mortgages before unamortized debt issuance costs		$ 280,323,034	$ 274,542,499
Percentage of mortgages rate		4.50%	4.50%
Variable Rate Mortgages [Member]
Total mortgages before unamortized debt issuance costs	[1]	$ 11,817,310	$ 12,094,597
Percentage of mortgages rate	[1]	3.90%	3.90%

[1] Includes a variable rate mortgage with a balance of $11,218,570 and $11,416,309 as of March 31, 2016 and December 31, 2015, respectively, which has been effectively fixed at an interest rate of 3.89% with an interest rate swap agreement.