XML 16 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Balance Sheets (Unaudited) (USD $)
Sep. 30, 2011
Dec. 31, 2010
Real estate:    
Building $ 16,960,000 $ 16,960,000
Less: accumulated depreciation 16,960,000 16,960,000
Building after accumulated depreciation 0 0
Building improvements and equipment 68,226,526 66,034,042
Less: accumulated depreciation 13,336,727 12,076,880
Building improvements after accumulated depreciation 54,889,799 53,957,162
Tenant improvements 5,793,417 5,598,316
Less: accumulated depreciation 1,168,842 515,948
Tenant improvements after accumulated depreciation 4,624,575 5,082,368
Land 7,240,000 7,240,000
Total real estate, net 66,754,374 66,279,530
Cash and cash equivalents 10,076,605 11,555,334
Due from Supervisor 87,202 87,202
Due from Lessee 3,085,983 0
Other receivable 3,357 3,357
Deferred costs 1,349,185 454,277
Leasing commissions, less accumulated amortization of $2,972,681 in 2011 and $2,742,063 in 2010 1,137,140 1,367,758
Mortgage refinancing costs, less accumulated amortization of $1,734,326 in 2011 and $1,461,613 in 2010 1,139,306 1,412,019
Total assets 83,633,152 81,159,477
Liabilities:    
Mortgages payable 92,050,349 93,719,850
Accrued mortgage interest 431,118 438,819
Accrued supervisory fees, a related party 196,633 78,000
Payable to Lessee, a related party 2,553,221 1,082,082
Due to Supervisor 0 43,555
Accrued expenses 810,828 238,200
Total liabilities 96,042,149 95,600,506
Commitments and contingencies      
Members' deficiency (at September 30, 2011 and December 31, 2010, there were 700 units (at $10,000 per unit) of participation units outstanding) (12,408,997) (14,441,029)
Total liabilities and members' deficiency $ 83,633,152 $ 81,159,477