Loans and Mortgages Payable - Summary of Mortgages Payable (Details) - USD ($)		Sep. 30, 2016	Dec. 31, 2015
Total mortgages before unamortized debt issuance costs		$ 288,465,881	$ 286,637,096
Unamortized debt issuance costs		(3,445,316)	(3,587,294)
Mortgages, net of unamortized debt issuance costs		$ 285,020,565	$ 283,049,802
Percentage of mortgages rate		4.40%	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		$ 277,205,883	$ 274,542,499
Percentage of mortgages rate		4.40%	4.50%
Variable Rate Mortgages [Member]
Total mortgages before unamortized debt issuance costs	[1]	$ 11,259,998	$ 12,094,597
Percentage of mortgages rate	[1]	3.90%	3.90%

[1] Includes a variable rate mortgage with a balance of $10,823,092 and $11,416,309 as of September 30, 2016 and December 31, 2015, respectively, which has been effectively fixed at an interest rate of 3.89% with an interest rate swap agreement.