Loans and Mortgages Payable - Summary of Mortgages Payable (Details) - USD ($)		Sep. 30, 2017	Dec. 31, 2016
Total mortgages before unamortized debt issuance costs		$ 316,440,501	$ 296,563,983
Unamortized debt issuance costs		(3,632,321)	(3,538,391)
Mortgages, net of unamortized debt issuance costs		$ 312,808,180	$ 293,025,592
Mortgages before unamortized debt issuance costs percentage		4.30%	4.30%
Mortgages, net of unamortized debt issuance costs percentage		4.40%	4.40%
Fixed Rate Mortgages [Member]
Total mortgages before unamortized debt issuance costs		$ 316,337,850	$ 285,584,102
Mortgages before unamortized debt issuance costs percentage		4.30%	4.40%
Variable Rate Mortgages [Member]
Total mortgages before unamortized debt issuance costs	[1]	$ 102,651	$ 10,979,881
Mortgages before unamortized debt issuance costs percentage	[1]	4.30%	3.90%

[1] Includes a variable rate mortgage with a balance of $-0- and $10,625,352 as of September 30, 2017 and December 31, 2016, respectively, which has been effectively fixed at an interest rate of 3.89% with an interest rate swap agreement.