Gyrodyne (GYRO) 10-K 28 Mar 19 2018 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Mar. 29, 2019	Jun. 30, 2018
Document Information [Line Items]
Entity Registrant Name	Gyrodyne, LLC
Entity Central Index Key	0001589061
Trading Symbol	gyro
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		1,482,680
Entity Public Float			$ 14,516,372
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Statements of Net

Consolidated Statements of Net Assets (Liquidation Basis) - USD ($)		Dec. 31, 2018	Dec. 31, 2017
ASSETS:
Real Estate Held-for-sale		$ 36,201,270	$ 33,016,665
LIABILITIES:
Accrued liabilities		173,086	261,160
Liquidation Basis of Accounting [Member]
ASSETS:
Real Estate Held-for-sale		36,201,270	33,016,665
Cash and cash equivalents		3,049,587	5,265,368
Rent receivable		57,270	41,226
Other receivables		68,743	78,488
Total Assets		39,376,870	38,401,747
LIABILITIES:
Accounts payable		769,346	532,671
Accrued liabilities		173,086	261,160
Deferred rent liability		24,825	26,675
Tenant security deposits payable		268,633	293,978
Mortgage loan payable		1,100,000
Estimated liquidation and operating costs net of receipts	[1]	10,194,310	10,649,913
Total Liabilities		12,530,200	11,764,397
Net assets in liquidation		$ 26,846,670	$ 26,637,350
[1]	These estimates are based on the liquidation being completed by June 30, 2020.

Consolidated Statements of Chan

Consolidated Statements of Changes in Net Assets (Liquidation Basis) - Liquidation Basis of Accounting [Member] - USD ($)		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017
Net assets in liquidation, beginning of period		$ 26,637,350	$ 28,111,612
Change in liquidation value of real estate		3,984,605	4,791,665
Change in value of marketable securities			25,918
Remeasurement of assets and liabilities	[1]	(3,775,285)	(4,809,165)
Net increase in liquidation value		209,320	8,418
Liquidating distributions to shareholder			(1,482,680)
Changes in net assets in liquidation		209,320	(1,474,262)
Net assets in liquidation, end of period		$ 26,846,670	$ 26,637,350
[1]	These estimates are based on the liquidation being completed by June 30, 2020.

Note 1 - The Company

Note 1 - The Company	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. The Company Gyrodyne, LLC (including its subsidiaries, “Gyrodyne”, the “Company” or the “Registrant”) is a limited liability company formed under the laws of the State of New York whose primary business is the management of a portfolio of medical office and industrial properties and the pursuit of entitlement on such properties, which are located in Suffolk (“Flowerfield”) and Westchester Counties (“Cortlandt Manor”), New York. Substantially all of our developed properties are subject to leases in which the tenant reimburses the Company for a portion, all of or substantially all of the costs and/or cost increases for utilities, insurance, repairs, maintenance and real estate taxes. Certain leases provide that the Company is responsible for certain operating expenses. Gyrodyne’s corporate strategy is to enhance the value of Flowerfield and Cortlandt Manor by pursuing entitlement opportunities and enhancing the value of its leases. The Board believes the aforementioned strategy will improve the chances of increasing the values for such properties. The value of the real estate reported in the consolidated statements of net assets as of December 31, 2018 2017 not may no Our efforts to generate the highest values for Flowerfield and Cortlandt Manor may not first no 15 may $1,000,000. The Company’s remaining real estate investments, each of which is held in a single asset limited liability company wholly owned by the Company, consist of: ● the Cortlandt Manor Medical Center comprising approximately 34,000 13.8 ● the Flowerfield Industrial Park comprising approximately 127,000 ten 68 62 68

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Summary of Significant Accounting Policies Gyrodyne intends to dissolve after it completes the disposition of all of its real property assets, applies the proceeds of such dispositions first September 1, 2015 205 30, may $1 205 30. Principles of C onsolidation - Basis of Presentation - Liquidation Basis of Accounting – no Under the liquidation basis of accounting, all the Company’s assets have been stated at their estimated net realizable value, or liquidation value, (which represents the estimated amount of cash that Gyrodyne will collect on the disposal of assets as it carries out the plan of liquidation), which is based on current contracts, estimates and other indications of sales value (predicated on current values). All liabilities of the Company, including those estimated costs associated with implementing the plan of liquidation, have been stated at their estimated settlement amounts. These amounts are presented in the accompanying statements of net assets. These estimates are periodically reviewed and adjusted as appropriate. There can be no not may may June 30, 2020. June 30, 2020 not may no The Company’s assumptions and estimates (including the sales proceeds of all its real estate holdings, selling costs, retention bonus payments, rental revenues, rental expenses, capital expenditures, land entitlement costs, general and administrative fees, director and officer liability and reimbursement, post liquidation insurance tail coverage policy and final liquidation costs) are based on completing the liquidation by June 30, 2020. Management Estimates – Cash equivalents - Allowance for doubtful accounts – Estimated Distributions per Share New A ccounting P ronouncements - not December 31, 2018, not

Note 3 - Statements of Net Asse

Note 3 - Statements of Net Assets in Liquidation	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Liquidation Basis of Accounting [Text Block]	3. Statements of Net Assets in Liquidation Net assets in liquidation at December 31, 2018 $18.11 $0.14 December 31, 2017 $17.97 The cash balance at the end of the liquidation period (currently estimated to be June 30, 2020, may December 31, 2018 $3.05 June 30, 2020: 1. The estimated cash receipts from the operation of the properties net of rental property related expenditures as well as costs expected to be incurred to preserve or improve the net realizable value of the property at its estimated gross sales proceeds. 2. Proceeds from the sale of all the Company’s real estate holdings. 3. The net cash used to settle the working capital accounts. 4. The general and administrative expenses and or liabilities associated with operations and the liquidation of the Company including severance, director and officer liability inclusive of post liquidation tail policy coverage, and financial and legal fees to complete the liquidation. 5. Costs for the pursuit of entitlement of the Flowerfield and Cortlandt Manor properties, to maximize value. 6. Estimated retention bonus amounts based on the net realizable value of the real estate under the Retention Bonus Plan (See Note 12 7. Proceeds from the draw downs on the credit facilities to fund tenant improvements and working capital and costs to repay such outstanding debt. The Company estimates the net realizable value of its real estate assets by using income and market valuation techniques. The Company may 3 No. 820, may The Company is pursuing various avenues to maximize total distributions to our shareholders during the liquidation process. The Company estimates that it will incur approximately $1.5 4 December 31, 2018, $1.3 $1.5 January 2019 not may may December 31, 2018 2017 not may no The Company is making tenant improvements at Flowerfield to convert certain existing industrial space into office space pursuant to amended and new leases with Stony Brook University and institutions affiliated with it, respectively. The tenant improvements for such respective leases signed during the year ended December 31, 2018 $4.1 $1.4 $1.1 $1.4 third 2018, 2019. December 31, 2018 no The net assets in liquidation at December 31, 2018 ( $26,846,670 2017 $26,637,350 $18.11 $17.97, 1,482,680 may may not December 31, 2018 2017.

Note 4 - Estimated Liquidation

Note 4 - Estimated Liquidation and Operating Costs Net of Estimated Receipts	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Liquidation Basis of Accounting, Liability for Estimated Costs in Excess of Receipts [Text Block]	4. Estimated Liquidation and Operating Costs Net of Estimated Receipts The liquidation basis of accounting requires the Company to estimate net cash flows from operations and to accrue all costs associated with implementing and completing the plan of liquidation. The Company currently estimates that it will incur liquidation and operating costs net of estimated receipts during the liquidation period, excluding the net proceeds from the real estate sales. These amounts can vary significantly due to, among other things, land entitlement costs, the timing and estimates for executing and renewing leases, capital expenditures to maintain the real estate at its current estimated realizable value and estimates of tenant improvement costs, the timing of property sales and any direct/indirect costs incurred that are related to the sales (e.g., retention bonuses on the sale of the Cortlandt Manor and Flowerfield properties, costs to address buy side due diligence inclusive of administrative fees, legal fees and property costs to address items arising from such due diligence and not The change in the liability for estimated costs in excess of estimated receipts during liquidation from January 1, 2018 December 31, 2018 January 1, 2018 Expenditures/ (Receipts) Remeasurement of Assets and Liabilities December 31, 2018 Assets: Estimated net inflows from investment of real estate $ 4,044,202 $ (2,386,428 ) $ 1,760,511 $ 3,418,285 Liabilities: Property operating costs (2,403,872 ) 1,495,664 (1,176,747 ) (2,084,955 ) Tenant improvements (1,304,109 ) 1,316,567 (478,302 ) (465,844 ) Common area capital expenditures (500,000 ) 71,075 (236,075 ) (665,000 ) Land entitlement costs (2,516,394 ) 1,261,048 (213,128 ) (1,468,474 ) Corporate expenditures (5,650,775 ) 2,213,047 (1,466,639 ) (4,904,367 ) Selling costs on real estate assets* (1,981,000 ) 79,438 (535,514 ) (2,437,076 ) Retention bonus payments to directors, officers and employees* (642,259 ) 86,917 (1,429,391 ) (1,984,733 ) Less Prepaid expenses and other assets 304,294 93,560 - 397,854 Liability for estimated costs in excess of estimated receipts during liquidation** $ (10,649,913 ) $ 4,230,888 $ (3,775,285 ) $ (10,194,310 ) *The amounts reported are based on the provisions of the retention bonus plan and the reported amount of the real estate assets estimated net realizable value. ** These estimates are based on the liquidation being completed by June 30, 2020. The change in the liability for estimated costs in excess of estimated receipts during liquidation from January 1, 2017 December 31, 2017 January 1, 2017 Expenditures/ (Receipts) Remeasurement of Assets and Liabilities December 31, 2017 Assets: Estimated net inflows from investment of real estate $ 4,587,606 $ (2,618,717 ) $ 2,075,313 $ 4,044,202 Liabilities: Property operating costs (2,171,863 ) 1,488,979 (1,720,988 ) (2,403,872 ) Tenant improvements (520,000 ) 525,554 (1,309,663 ) (1,304,109 ) Common area capital expenditures (320,000 ) 40,030 (220,030 ) (500,000 ) Land entitlement costs (3,358,200 ) 1,718,120 (876,314 ) (2,516,394 ) Corporate expenditures (6,225,694 ) 2,418,208 (1,843,289 ) (5,650,775 ) Selling costs on real estate assets* (1,861,500 ) 209,355 (328,855 ) (1,981,000 ) Retention bonus payments to directors, executives and employees (a)* (360,972 ) 304,052 (585,339 ) (642,259 ) Less prepaid expenses and other assets 317,962 (13,668 ) - 304,294 Liability for estimated costs in excess of estimated receipts during liquidation** $ (9,912,661 ) $ 4,071,913 $ (4,809,165 ) $ (10,649,913 ) *The amounts reported are based on the provisions of the retention bonus plan and the reported amount of the real estate assets estimated net realizable value. **These estimates were based on the liquidation being completed by the end of 2019. (a) The value of the real estate reported in the Statement of Net Assets as of December 31, 2017, not may not 2013 one not

Note 5 - Disposition Activities

Note 5 - Disposition Activities	12 Months Ended
	Dec. 31, 2018
Liquidation Basis of Accounting [Member]
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	5. Disposition Activities Port Jefferson Professional Park - December 31, 2018 2017, one three 4,000 Port Jefferson Professional Park Location Closing Date Gross Sales Proceeds 201 8 201 7 11 Medical Drive August 2018 $ 800,000 5380 Nesconset Highway and 9 Medical Drive June, 2017 $ 2,000,000 1 Medical Drive August 2017 800,000 Total $ 800,000 $ 2,800,000 Following the sales indicated above, the Company no

Note 6 - Mortgage Loan Payable

Note 6 - Mortgage Loan Payable	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	6. Mortgage Loan Payable The Company secured a non-revolving credit line for up to $3,000,000 March 21, 2018. first eight November 30, 2025 ( 84 100 1% 1/8 2018 6.014%. 7 200 2% 1/8 no 4.25%, 20 5.125%. The first $1.1 On January 24, 2019, January 20, 2020 $3,000,000 January 20, 2027 84 100 1% 1/8 no 6.5% 7 200 2% 1/8 20 5.125%. To secure access to additional working capital, if needed, through the final sale date of the Flowerfield industrial buildings, the Company secured a second $3,000,000, January 24, 2019. first twenty-four January 20, 2028 ( 84 100 1% 1/8 no 6.5% 7 200 2% 1/8 20 5.125%. $2,919,932 $80,068, Both lines are secured by approximately 31.8 December 31, 2018, The mortgage loan payable matures upon the earlier of the sale of the Flowerfield Industrial Park (unless assigned) or as follows: Years Ending December 31, 2019 $ 0 2020 26,890 2021 33,818 2022 35,593 2023 37,461 Thereafter 966,238 Total $ 1,100,000

Note 7 - Real Estate

Note 7 - Real Estate	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Real Estate Disclosure [Text Block]	7. Real Estate The Company reports its financial statements under the liquidation basis of accounting which reflects real estate value at net realizable value (predicated on current asset values). During 2018 2017, $3,984,605 $4,791,665, December 31, 2018 $36,201,270. 2018 2017 Net Realizable Value at beginning of period $ 33,016,665 $ 31,025,000 Increases in Net Realizable Value Port Jefferson Professional Park - 150,000 Cortlandt Manor 1,040,000 1,095,000 Flowerfield 2,944,605 3,546,665 Less Property Sales Port Jefferson Professional Park (800,000 ) (2,800,000 ) Net Realizable Value at December 31, $ 36,201,270 $ 33,016,665

Note 8 - Accrued Liabilities

Note 8 - Accrued Liabilities	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Other Liabilities Disclosure [Text Block]	8. Accrued Liabilities Accrued liabilities at December 31, 2018 2017 December 31, 2018 2017 Payroll and related taxes $ 34,737 $ 23,780 Professional fees 103,349 102,703 Other 35,000 134,677 Total $ 173,086 $ 261,160

Note 9 - Income Taxes

Note 9 - Income Taxes	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	9. Income Taxes As a limited liability company, Gyrodyne is not 1065, 1 Prior to January 1, 2018, The Bipartisan Budget Act of 2015 “2015 December 31, 2017. 2015 December 31, 2017 may January 1, 2018 As of December 31, 2018 2017, $12,544. December 31, 2018, $73,085, December 31, 2017. not

Note 10 - Credit Quality of Ren

Note 10 - Credit Quality of Rents Receivable	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	10. Credit Quality of Rents Receivable The Company’s standard lease terms include rent due on the first ten no one The Company manages its billing and collection process internally to enable timely identification of collection issues. The controls and related processes enable the Company to timely identify and establish payment plans to minimize material losses from defaults. As of December 31, 2018 2017, Allowance for Doubtful Accounts December 31, 2018 December 31, 2017 Beginning balance $ 34,000 $ 44,000 Accounts receivable (written off) (21,000 ) (10,000 ) Ending Balance $ 13,000 $ 34,000

Note 11 - Concentration of Cred

Note 11 - Concentration of Credit Risk	12 Months Ended
	Dec. 31, 2018
Credit Concentration Risk [Member]
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	11. Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents. The Company places its temporary cash investments with high credit quality financial institutions and generally limits the amount of credit exposure in any one not not not December 31, 2018 2017. For the year ended December 31, 2018 three 21%, 21% 6% three December 31, 2018 two December 31, 2018 93%,

Note 12 - Commitments

Note 12 - Commitments	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Commitments Disclosure [Text Block]	12. Commitments As of December 31, 2018 2017, 2018 2017 Management Employment agreements with bonus* and severance commitment contingencies $ 350,000 $ 350,000 Other employee severance commitment contingencies 81,716 81,716 Total $ 431,716 $ 431,716 *Excludes Retention Bonus Payments Employment agreements - $125,000 6 The Company also has an employment agreement with its Chief Operating Officer (“COO”) executed on May 8, 2014 6 January 25, 2018, January 25, 2018, Under Company policy the aggregate severance commitment contingency to other employees is approximately $81,716. Retention Bonus Plan- May 2014, The Plan provides for a bonus pool funded with an amount equal to 5% 100% 2013 2013 December 30, 2013. 2013 2013 10% first 10% 15% 10% 20% 20%. The bonus pool is distributable in the following proportions to the named participants in the bonus plan for so long as they are directors or employees of the Company: Board Members/Employees Bonus Pool Percentage Board Members (a) 65.000 % Chief Executive Officer 15.474 % Chief Operations Officer 13.926 % Officer Discretionary Amount (b) 1.750 % Other Employees 3.850 % Total 100.000 % (a) 15% 50% 10% five (b) The officer discretionary amount of 1.75% not Such shares of the bonus pool are earned only upon the completion of the sale of a property at a gross selling price equal to or greater than its Adjusted Appraised Value and is paid to the named beneficiaries of the Plan or their designees within 60 60 The Plan provides for vesting of benefits upon the sale of each individual post-subdivision lot at Flowerfield and Cortlandt Manor. It also provides for entitlement to a future benefit in the event of death, voluntary termination following substantial reduction in compensation or board fees, mutually agreed separation to right-size the board or involuntary termination without cause, except that a participant will only be eligible to receive a benefit to the extent that a property is sold within three four December 31 There have been three first two May 24, 2016 January 26, 2018, October 30, 2018, No. 3 No. 3” No. 3 no No. 3 2013 The value of the real estate reported in the Statements of Net Assets as of December 31, 2018 2017, not may Payments made during the twelve December 31, 2018 2017 4 RETENTION BONUS PLAN PARTICPANTS 2018 2017 Board of Directors $ 56,497 $ 197,633 President and Chief Executive Officer 14,250 50,898 Chief Operating Officer 12,824 46,863 Other Employees 3,346 8,658 Total $ 86,917 $ 304,052

Note 13 - Fair Value of Financi

Note 13 - Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Fair Value Disclosures [Text Block]	13. Fair Value of Financial Instruments Assets and Liabilities Measured at Fair-Value – The Company follows authoritative guidance on the fair value option for financial assets, which permits companies to choose to measure certain financial instruments and other items at fair-value in order to mitigate volatility in reported earnings caused by measuring related assets and liabilities differently. However, the Company adopted the liquidation basis of accounting, and therefore reports all assets and liabilities at net realizable value. The guidance emphasizes that fair-value is a market-based measurement, not 1 2 No. 820, 3 Fair Value Measurements - September 1, 2015; The Company estimates the net realizable value of its real estate assets by using income and market valuation techniques. The Company may 3 may

Note 14 - Equity

Note 14 - Equity	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	14. Equity Distributions - June 16, 2017, $1.00 July 7, 2017 June 27, 2017.

Note 15 - Contingencies

Note 15 - Contingencies	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Contingencies Disclosure [Text Block]	15. Contingencies Putative Class Action Lawsuit - July 3, 2014, No. 065134/2014 On August 14, 2015, August 17, 2015 December 2014. April 8, 2016, $650,000 April 2016. As of December 31, 2018 2017, 2014 General - not

Note 16 - Related Party Transac

Note 16 - Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	16. Related Party Transactions The Company has entered into various leasing arrangements with a not no Term Square Feet Annual Rent Rent Abatement Total Commitment (net of abatement, excluding renewal options) Additional Commitment (assumes both two-year renewal options are exercised) May 2016-Dec 2018 1,971 $ 16,754 $14,153 (a) $ 29,825 $ 67,014 Aug 2016-Dec 2018 2,130 - (b) - (b) - (b) - (b) May 2017-Dec 2018 1,905 $ 16,193 $ 5,398 $ 21,590 $ 64,770 (a) In exchange for the rent abatement, the tenant completed capital improvements that exceeded the abatement amount. In addition, the tenant signed a multi-year lease. (b) In April 2017, not August 2016. one $10 29 2,130 $21,300 $51,475, $3,500 not may not December 31, 2018 51,475 two $136,675. During 2017, first two third two two November 2018, first December 31, 2020. February 2019, two one 313 $4,900. During the twelve December 31, 2018 2017, $47,146 $22,165, The Chairman is also a partner of the firm Lamb & Barnosky, LLP that provided pro bono legal representation to the aforementioned not The independent members of the Board of the Company approved all of the leasing transaction described above.

Note 17 - Reclassifications

Note 17 - Reclassifications	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Reclassifications [Text Block]	17. Reclassifications Certain amounts in the prior period have been reclassified to conform to the classification used in the current period.

Note 18 - Subsequent Events

Note 18 - Subsequent Events	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	18. Subsequent Events Credit Facility. January 24, 2019, March 21, 2018 ( January 20, 2020 $3,000,000 January 20, 2027 84 100 1% 1/8 no 6.5% 7 200 2% 1/8 20 5.125%. first March 2018, $1.1 $1.1 2019 December 31, 2018. In addition, also on January 24, 2019, second $3,000,000 first twenty-four January 20, 2028 ( 84 100 1% 1/8 no 6.5% 7 200 2% 1/8 20 5.125%. $2,919,932 $80,068, Related Party Transaction. February 2019, two one 313 $4,900. F- 16

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of C onsolidation -
Liquidation Basis of Accounting [Policy Text Block]	Basis of Presentation - Liquidation Basis of Accounting – no Under the liquidation basis of accounting, all the Company’s assets have been stated at their estimated net realizable value, or liquidation value, (which represents the estimated amount of cash that Gyrodyne will collect on the disposal of assets as it carries out the plan of liquidation), which is based on current contracts, estimates and other indications of sales value (predicated on current values). All liabilities of the Company, including those estimated costs associated with implementing the plan of liquidation, have been stated at their estimated settlement amounts. These amounts are presented in the accompanying statements of net assets. These estimates are periodically reviewed and adjusted as appropriate. There can be no not may may June 30, 2020. June 30, 2020 not may no The Company’s assumptions and estimates (including the sales proceeds of all its real estate holdings, selling costs, retention bonus payments, rental revenues, rental expenses, capital expenditures, land entitlement costs, general and administrative fees, director and officer liability and reimbursement, post liquidation insurance tail coverage policy and final liquidation costs) are based on completing the liquidation by June 30, 2020.
Use of Estimates, Policy [Policy Text Block]	Management Estimates –
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash equivalents -
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	Allowance for doubtful accounts –
Earnings Per Share, Policy [Policy Text Block]	Estimated Distributions per Share
New Accounting Pronouncements, Policy [Policy Text Block]	New A ccounting P ronouncements - not December 31, 2018, not

Note 4 - Estimated Liquidatio_2

Note 4 - Estimated Liquidation and Operating Costs Net of Estimated Receipts (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Liquidation Basis of Accounting, Change in Liability for Estimated Costs in Excess of Estimated Receipts [Table Text Block]	January 1, 2018 Expenditures/ (Receipts) Remeasurement of Assets and Liabilities December 31, 2018 Assets: Estimated net inflows from investment of real estate $ 4,044,202 $ (2,386,428 ) $ 1,760,511 $ 3,418,285 Liabilities: Property operating costs (2,403,872 ) 1,495,664 (1,176,747 ) (2,084,955 ) Tenant improvements (1,304,109 ) 1,316,567 (478,302 ) (465,844 ) Common area capital expenditures (500,000 ) 71,075 (236,075 ) (665,000 ) Land entitlement costs (2,516,394 ) 1,261,048 (213,128 ) (1,468,474 ) Corporate expenditures (5,650,775 ) 2,213,047 (1,466,639 ) (4,904,367 ) Selling costs on real estate assets* (1,981,000 ) 79,438 (535,514 ) (2,437,076 ) Retention bonus payments to directors, officers and employees* (642,259 ) 86,917 (1,429,391 ) (1,984,733 ) Less Prepaid expenses and other assets 304,294 93,560 - 397,854 Liability for estimated costs in excess of estimated receipts during liquidation** $ (10,649,913 ) $ 4,230,888 $ (3,775,285 ) $ (10,194,310 ) January 1, 2017 Expenditures/ (Receipts) Remeasurement of Assets and Liabilities December 31, 2017 Assets: Estimated net inflows from investment of real estate $ 4,587,606 $ (2,618,717 ) $ 2,075,313 $ 4,044,202 Liabilities: Property operating costs (2,171,863 ) 1,488,979 (1,720,988 ) (2,403,872 ) Tenant improvements (520,000 ) 525,554 (1,309,663 ) (1,304,109 ) Common area capital expenditures (320,000 ) 40,030 (220,030 ) (500,000 ) Land entitlement costs (3,358,200 ) 1,718,120 (876,314 ) (2,516,394 ) Corporate expenditures (6,225,694 ) 2,418,208 (1,843,289 ) (5,650,775 ) Selling costs on real estate assets* (1,861,500 ) 209,355 (328,855 ) (1,981,000 ) Retention bonus payments to directors, executives and employees (a)* (360,972 ) 304,052 (585,339 ) (642,259 ) Less prepaid expenses and other assets 317,962 (13,668 ) - 304,294 Liability for estimated costs in excess of estimated receipts during liquidation** $ (9,912,661 ) $ 4,071,913 $ (4,809,165 ) $ (10,649,913 )

Note 5 - Disposition Activiti_2

Note 5 - Disposition Activities (Tables)	12 Months Ended
	Dec. 31, 2018
Port Jefferson Professional Park [Member]
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	Port Jefferson Professional Park Location Closing Date Gross Sales Proceeds 201 8 201 7 11 Medical Drive August 2018 $ 800,000 5380 Nesconset Highway and 9 Medical Drive June, 2017 $ 2,000,000 1 Medical Drive August 2017 800,000 Total $ 800,000 $ 2,800,000

Note 6 - Mortgage Loan Payable

Note 6 - Mortgage Loan Payable (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Maturities of Long-term Debt [Table Text Block]	Years Ending December 31, 2019 $ 0 2020 26,890 2021 33,818 2022 35,593 2023 37,461 Thereafter 966,238 Total $ 1,100,000

Note 7 - Real Estate (Tables)

Note 7 - Real Estate (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	2018 2017 Net Realizable Value at beginning of period $ 33,016,665 $ 31,025,000 Increases in Net Realizable Value Port Jefferson Professional Park - 150,000 Cortlandt Manor 1,040,000 1,095,000 Flowerfield 2,944,605 3,546,665 Less Property Sales Port Jefferson Professional Park (800,000 ) (2,800,000 ) Net Realizable Value at December 31, $ 36,201,270 $ 33,016,665

Note 8 - Accrued Liabilities (T

Note 8 - Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	December 31, 2018 2017 Payroll and related taxes $ 34,737 $ 23,780 Professional fees 103,349 102,703 Other 35,000 134,677 Total $ 173,086 $ 261,160

Note 10 - Credit Quality of R_2

Note 10 - Credit Quality of Rents Receivable (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Summary of Valuation Allowance [Table Text Block]	Allowance for Doubtful Accounts December 31, 2018 December 31, 2017 Beginning balance $ 34,000 $ 44,000 Accounts receivable (written off) (21,000 ) (10,000 ) Ending Balance $ 13,000 $ 34,000

Note 12 - Commitments (Tables)

Note 12 - Commitments (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Other Commitments [Table Text Block]	2018 2017 Management Employment agreements with bonus* and severance commitment contingencies $ 350,000 $ 350,000 Other employee severance commitment contingencies 81,716 81,716 Total $ 431,716 $ 431,716
Schedule of Allocation of Bonus Pool Percentage [Table Text Block]	Board Members/Employees Bonus Pool Percentage Board Members (a) 65.000 % Chief Executive Officer 15.474 % Chief Operations Officer 13.926 % Officer Discretionary Amount (b) 1.750 % Other Employees 3.850 % Total 100.000 %
Schedule of Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits by Title of Individual and Type of Deferred Compensation [Table Text Block]	RETENTION BONUS PLAN PARTICPANTS 2018 2017 Board of Directors $ 56,497 $ 197,633 President and Chief Executive Officer 14,250 50,898 Chief Operating Officer 12,824 46,863 Other Employees 3,346 8,658 Total $ 86,917 $ 304,052

Note 16 - Related Party Trans_2

Note 16 - Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	Term Square Feet Annual Rent Rent Abatement Total Commitment (net of abatement, excluding renewal options) Additional Commitment (assumes both two-year renewal options are exercised) May 2016-Dec 2018 1,971 $ 16,754 $14,153 (a) $ 29,825 $ 67,014 Aug 2016-Dec 2018 2,130 - (b) - (b) - (b) - (b) May 2017-Dec 2018 1,905 $ 16,193 $ 5,398 $ 21,590 $ 64,770

Note 1 - The Company (Details T

Note 1 - The Company (Details Textual)	Sep. 01, 2015USD ($)	Dec. 31, 2018ft²a
Multi-Tenant Industrial Park [Member] | Controlled by Parent Company [Member]
Area of Real Estate Property		127,000
St. James, New York [Member] | Controlled by Parent Company [Member]
Area of Real Estate Property | a		68
Cortlandt Manor Medical Center [Member]
Area of Real Estate Property		34,000
The Corporation [Member]
Maximum Value of Asset to Effect Dissolution | $	$ 1,000,000

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Details Textual)	Sep. 01, 2015USD ($)
The Corporation [Member]
Maximum Value of Asset to Effect Dissolution	$ 1,000,000

Note 3 - Statements of Net As_2

Note 3 - Statements of Net Assets in Liquidation (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Tenant Improvements		$ 1,100,000
Liquidation Basis of Accounting [Member]
Liquidation Basis of Accounting, Common Stock Per Share		$ 18.11	$ 17.97
Liquidation Basis of Accounting, Net Increase (Decrease) in Liquidation Value Per Share		$ 0.14
Liquidation Basis of Accounting, Common Stock Per Share, Net			$ 17.97
Cash and Cash Equivalents, at Carrying Value, Ending Balance		$ 3,049,587	$ 5,265,368
Liquidation Basis of Accounting, Land Entitlement Costs Incurred		1,300,000
Operating Leases, Future Minimum Payments Due, Total		4,100,000
Net Assets, Ending Balance		$ 26,846,670	$ 26,637,350	$ 28,111,612
Common Stock, Shares, Outstanding, Ending Balance		1,482,680
Scenario, Forecast [Member]
Liquidation Basis of Accounting, Land Entitlement Costs	$ 1,500,000
Liquidation Basis of Accounting, Land Entitlement Costs Incurred	$ 1,500,000
Scenario, Plan [Member]
Tenant Improvements		$ 1,400,000

Note 4 - Estimated Liquidatio_3

Note 4 - Estimated Liquidation and Operating Costs Net of Estimated Receipts - Changes in Liability for Estimated Costs in Excess of Estimated Receipts (Details) - USD ($)		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017
Estimated net inflows from investment of real estate		$ 4,044,202	$ 4,587,606
Estimated net inflows from investment of real estate			(2,618,717)
Estimated net inflows from investment of real estate			(2,075,313)
Estimated net inflows from investment of real estate			4,044,202
Estimated net inflows from investment of real estate			2,075,313
Liquidation Basis of Accounting [Member]
Estimated net inflows from investment of real estate		4,044,202
Estimated net inflows from investment of real estate		(2,386,428)
Estimated net inflows from investment of real estate		1,760,511
Estimated net inflows from investment of real estate		3,418,285	4,044,202
Property operating costs		(2,403,872)	(2,171,863)
Property operating costs		1,495,664	1,488,979
Property operating costs		(1,176,747)	(1,720,988)
Property operating costs		(2,084,955)	(2,403,872)
Tenant improvements		(1,304,109)	(520,000)
Tenant improvements		1,316,567	525,554
Tenant improvements		(478,302)	(1,309,663)
Tenant improvements		(465,844)	(1,304,109)
Common area capital expenditures		(500,000)	(320,000)
Common area capital expenditures		71,075	40,030
Common area capital expenditures		(236,075)	(220,030)
Common area capital expenditures		(665,000)	(500,000)
Land entitlement costs		(2,516,394)	(3,358,200)
Land entitlement costs		1,261,048	1,718,120
Land entitlement costs		(213,128)	(876,314)
Land entitlement costs		(1,468,474)	(2,516,394)
Corporate expenditures		(5,650,775)	(6,225,694)
Corporate expenditures		2,213,047	2,418,208
Corporate expenditures		(1,466,639)	(1,843,289)
Corporate expenditures		(4,904,367)	(5,650,775)
Selling costs on real estate assets*	[1]	(1,981,000)	(1,861,500)
Selling costs on real estate assets*	[1]	79,438	209,355
Selling costs on real estate assets*	[1]	(535,514)	(328,855)
Selling costs on real estate assets*	[1]	(2,437,076)	(1,981,000)
Retention bonus payments to directors, officers and employees*	[1],[2]	(642,259)	(360,972)
Retention bonus payments to directors, officers and employees*		86,917	304,052	[1],[2]
Retention bonus payments to directors, officers and employees*	[1]	(1,429,391)
Retention bonus payments to directors, officers and employees*		(1,984,733)	(642,259)	[1],[2]
Less Prepaid expenses and other assets		304,294	317,962
Less Prepaid expenses and other assets		93,560	(13,668)
Less Prepaid expenses and other assets		397,854	304,294
Liability for estimated costs in excess of estimated receipts during liquidation**	[3]	(10,649,913)	(9,912,661)
Liability for estimated costs in excess of estimated receipts during liquidation**	[3]	4,230,888	4,071,913
Liability for estimated costs in excess of estimated receipts during liquidation**	[3]	(3,775,285)	(4,809,165)
Liability for estimated costs in excess of estimated receipts during liquidation**	[3]	(10,194,310)	(10,649,913)
Estimated net inflows from investment of real estate		$ (1,760,511)
Retention bonus payments to directors, executives and employees (a)*	[1],[2]		$ (585,339)
[1]	The amounts reported are based on the provisions of the retention bonus plan and the reported amount of the real estate assets estimated net realizable value.
[2]	The value of the real estate reported in the Statement of Net Assets as of December 31, 2017, does not include the increased value, if any, that may result from the estimated land entitlement efforts. As a result, net realizable value as reported does not exceed the adjusted appraised value under the Retention Bonus Plan (the appraisal of the real estate in late 2013 plus the estimated development costs) for one property and accordingly the Company has not included any retention bonus on the sale of such property.
[3]	These estimates are based on the liquidation being completed by June 30, 2020.

Note 5 - Disposition Activiti_3

Note 5 - Disposition Activities (Details Textual)	Dec. 31, 2018a	Dec. 31, 2017a
Property at Medical Drive, Port Jefferson Station, New York, Currently Actively Marketed [Member]
Number of Units in Real Estate Property	0
Port Jefferson Professional Park [Member]
Number of Units in Real Estate Property	1	3
Area of Land	4,000	4,000

Note 5 - Disposition Activiti_4

Note 5 - Disposition Activities - Real Estate Purchase and Sale Agreements (Details) - Port Jefferson Professional Park [Member] - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Proceeds from property sold	$ 800,000	$ 2,800,000
Property at 11 Medical Drive, Port Jefferson Station, New York [Member]
Proceeds from property sold	800,000
The 5380 Nesconset Highway [Member]
Proceeds from property sold		2,000,000
Property at 1 Medical Drive, Port Jefferson Station, New York [Member]
Proceeds from property sold		$ 800,000

Note 6 - Mortgage Loan Payabl_2

Note 6 - Mortgage Loan Payable (Details Textual)	Jan. 24, 2019USD ($)	Mar. 21, 2018USD ($)	Dec. 31, 2018a
Real Estate Securing Mortgage Loan [Member] | Flowerfield Industrial Park [Member]
Area of Real Estate Property | a			31.8
Non-revolving Credit Line [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 3,000,000
Debt Instrument, Interest Only Phase, Term		240 days
Debt Instrument, Interest and Principal Phase, Term		7 years
Proceeds from Lines of Credit, Total		$ 1,100,000
Non-revolving Credit Line [Member] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 3,000,000
Debt Instrument, Interest and Principal Phase, Term	7 years
Non-revolving Credit Line [Member] | Interest Only Period of Payments [Member]
Long-term Debt, Weighted Average Interest Rate, over Time			6.014%
Non-revolving Credit Line [Member] | Interest Only Period of Payments [Member] | Minimum [Member] | Subsequent Event [Member]
Debt Instrument, Interest Rate, Effective Percentage	6.50%
Non-revolving Credit Line [Member] | After Interest Only Payment Period [Member]
Debt Instrument, Interest Rate, Effective Percentage			5.125%
Debt Instrument, Amortization Period		20 years
Non-revolving Credit Line [Member] | After Interest Only Payment Period [Member] | Subsequent Event [Member]
Debt Instrument, Interest Rate, Effective Percentage	5.125%
Debt Instrument, Amortization Period	20 years
Non-revolving Credit Line [Member] | After Interest Only Payment Period [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Effective Percentage		4.25%
Non-revolving Credit Line [Member] | Prime Rate [Member] | Interest Only Period of Payments [Member]
Debt Instrument, Basis Spread on Variable Rate		1.00%
Non-revolving Credit Line [Member] | Prime Rate [Member] | Interest Only Period of Payments [Member] | Subsequent Event [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Non-revolving Credit Line [Member] | Federal Home Loan Bank Rate [Member] | After Interest Only Payment Period [Member]
Debt Instrument, Basis Spread on Variable Rate		2.00%
Non-revolving Credit Line [Member] | Federal Home Loan Bank Rate [Member] | After Interest Only Payment Period [Member] | Subsequent Event [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%
Non-revolving Credit Line 2 [Member] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 3,000,000
Debt Instrument, Interest Only Phase, Term	2 years
Debt Instrument, Interest and Principal Phase, Term	7 years
Line of Credit Facility, Current Borrowing Capacity	$ 2,919,932
Debt Issuance Costs, Line of Credit Arrangements, Gross	$ 80,068
Non-revolving Credit Line 2 [Member] | Interest Only Period of Payments [Member] | Minimum [Member] | Subsequent Event [Member]
Debt Instrument, Interest Rate, Effective Percentage	6.50%
Non-revolving Credit Line 2 [Member] | After Interest Only Payment Period [Member] | Subsequent Event [Member]
Debt Instrument, Interest Rate, Effective Percentage	5.125%
Debt Instrument, Amortization Period	20 years
Non-revolving Credit Line 2 [Member] | Prime Rate [Member] | Interest Only Period of Payments [Member] | Subsequent Event [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Non-revolving Credit Line 2 [Member] | Federal Home Loan Bank Rate [Member] | After Interest Only Payment Period [Member] | Subsequent Event [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%

Note 6 - Mortgage Loan Payabl_3

Note 6 - Mortgage Loan Payable - Mortgage Loan Maturity (Details)	Dec. 31, 2018USD ($)
2019	$ 0
2020	26,890
2021	33,818
2022	35,593
2023	37,461
Thereafter	966,238
Total	$ 1,100,000

Note 7 - Real Estate (Details T

Note 7 - Real Estate (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate Held-for-sale, Period Increase (Decrease)	$ 3,984,605	$ 4,791,665
Real Estate Held-for-sale	36,201,270	33,016,665	$ 31,025,000
Port Jefferson Professional Park [Member]
Real Estate Held-for-sale, Period Increase (Decrease)		$ 150,000
Real Estate Held-for-sale	$ 36,201,270

Note 7 - Real Estate - Real Est

Note 7 - Real Estate - Real Estate Disclosure (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Net Realizable Value at beginning of period	$ 33,016,665	$ 31,025,000
Increase (decrease) in net realizable value	3,984,605	4,791,665
Net Realizable Value at December 31,	36,201,270	33,016,665
Port Jefferson Professional Park [Member]
Increase (decrease) in net realizable value		150,000
Property sales	(800,000)	(2,800,000)
Net Realizable Value at December 31,	36,201,270
Cortlandt Manor Medical Center [Member]
Increase (decrease) in net realizable value	1,040,000	1,095,000
Flowerfield Properties, Inc. [Member]
Increase (decrease) in net realizable value	$ 2,944,605	$ 3,546,665

Note 8 - Accrued Liabilities -

Note 8 - Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Payroll and related taxes	$ 34,737	$ 23,780
Professional fees	103,349	102,703
Other	35,000	134,677
Total	$ 173,086	$ 261,160

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) - Domestic Tax Authority [Member] - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Taxes Receivable, Current	$ 12,544	$ 12,544
Income Tax Expense (Benefit), Total	$ (73,085)

Note 10 - Credit Quality of R_3

Note 10 - Credit Quality of Rents Receivable - Allowance for Doubtful Accounts (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Beginning balance	$ 34,000	$ 44,000
Accounts receivable (written off)	(21,000)	(10,000)
Ending Balance	$ 13,000	$ 34,000

Note 11 - Concentration of Cr_2

Note 11 - Concentration of Credit Risk (Details Textual)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
State Agency [Member]
Increase in Space Leased, Percentage	93.00%
Credit Concentration Risk [Member] | Cash, Cash Equivalents, and Government Securities [Member]
Concentration Risk, Percentage	0.00%	0.00%
Rental Income [Member]
Number of Major Customers	3
Customer Concentration Risk [Member] | Rental Income [Member] | Customer 1 [Member]
Concentration Risk, Percentage	21.00%
Customer Concentration Risk [Member] | Rental Income [Member] | Customer 2 [Member]
Concentration Risk, Percentage	21.00%
Customer Concentration Risk [Member] | Rental Income [Member] | Customer 3 [Member]
Concentration Risk, Percentage	6.00%

Note 12 - Commitments (Details

Note 12 - Commitments (Details Textual) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	May 31, 2014
Other Commitment, Total	$ 431,716	$ 431,716
Bonus Pool Funding as Percentage of Appraised Value of Contributed Properties			5.00%
Retention Bonus Plan, Gross Selling Price Requirement, Percentage			100.00%
Additional Bonus Pool Funding, Percentage of Gross Sales Price on First Ten Percent Of Property Appreciation			10.00%
Additional Bonus Pool, Funding Percentage of Gross Sales Price on Second Ten Percent of Property Appreciation			15.00%
Additional Bonus Pool Funding, Percentage of Gross Sales Price on Property Appreciation Greater than Twenty Percent			20.00%
Chief Executive Officer [Member] | Bonus Payable [Member]
Other Commitment, Total	125,000
Other Employees [Member]
Supplemental Unemployment Benefits, Severance Benefits	$ 81,716
Board of Directors Chairman [Member]
Bonus Pool Distribution Proportions			15.00%
Directors Other Than Chairman [Member]
Bonus Pool Distribution Proportions			50.00%
Other 5 Directors [Member]
Bonus Pool Distribution Proportions			10.00%
Executives and Employees [Member]
Bonus Pool Distribution Proportions			1.75%

Note 12 - Commitments - Other C

Note 12 - Commitments - Other Commitments (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Management Employment agreements with bonus* and severance commitment contingencies	$ 431,716	$ 431,716
Management Employment Agreements with Bonus and Severance Commitment Contingencies [Member]
Management Employment agreements with bonus* and severance commitment contingencies	350,000	350,000
Other Employee Severance Commitment Contingencies [Member]
Management Employment agreements with bonus* and severance commitment contingencies	$ 81,716	$ 81,716

Note 12 - Commitments - Allocat

Note 12 - Commitments - Allocation of Retention Bonus (Details)	Dec. 31, 2018
Board Members (a)	100.00%
Board Members [Member]
Board Members (a)	65.00%
Chief Executive Officer [Member]
Board Members (a)	15.474%
Chief Operating Officer [Member]
Board Members (a)	13.926%
Officer [Member]
Board Members (a)	1.75%	[1]
Other Employees [Member]
Board Members (a)	3.85%
[1]	The officer discretionary amount of 1.75% is vested but not allocated and will be allocated to the officers within the discretion of the Board.

Note 12 - Commitments - Payment

Note 12 - Commitments - Payments Under Retention Bonus Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Distributions paid	$ 86,917	$ 304,052
Board Members [Member]
Distributions paid	56,497	197,633
Chief Executive Officer [Member]
Distributions paid	14,250	50,898
Chief Operating Officer [Member]
Distributions paid	12,824	46,863
Other Employees [Member]
Distributions paid	$ 3,346	$ 8,658

Note 14 - Equity (Details Textu

Note 14 - Equity (Details Textual)	Jun. 16, 2017$ / shares
Incentive Compensation Plan [Member]
Common Stock, Dividends, Per Share, Declared	$ 1

Note 15 - Contingencies (Detail

Note 15 - Contingencies (Details Textual)	1 Months Ended
	Apr. 30, 2016USD ($)
Putative Class Action Lawsuit [Member]
Litigation Settlement, Amount Awarded to Other Party	$ 650,000

Note 16 - Related Party Trans_3

Note 16 - Related Party Transactions (Details Textual) - Not-for-profit Corporation [Member]	1 Months Ended	12 Months Ended
	Apr. 30, 2017USD ($)ft²$ / ft²	Dec. 31, 2018USD ($)a		Dec. 31, 2017USD ($)	Feb. 28, 2019USD ($)ft²
Operating Leases, Income Statement, Lease Revenue, Total		$ 47,146		$ 22,165
Subsequent Event [Member]
Operating Leases, Additional Commitment					$ 4,900
Increase, Area of Real Estate Property | ft²					313
Decrease, Area of Real Estate Property | ft²					313
Lease Term August 2016 Through December 2018 [Member]
Rent Amount Per Square Foot Per Month, Maximum | $ / ft²	10
Lessor, Operating Lease, Term of Contract	2 years 150 days
Area of Real Estate Property	2,130	2,130
Annual Rent	$ 21,300		[1]
Operating Leases, Maximum Total Lease Commitment	51,475
Payments for Tenant Improvements	$ 3,500
Commitments, Fair Value Disclosure		$ 51,475
Lessor, Operating Lease, Renewal Term		2 years
Operating Leases, Additional Commitment		$ 136,675
[1]	In April 2017, the Company extended the term of a master lease with the not-for-profit originally entered into in August 2016. The Company understood that the tenants' main intent was to sublease the space to artists, on a short-term basis, after which they would transition into their own space leased directly from the Company. Under the master lease, the tenant has the right to sublease the space to one or more artists, on a short-term basis. Under the terms of the master lease, rent is payable by the tenant only to the extent the space is sublet, at the rent amount per square foot payable by the subtenant up to a maximum of $10 per square foot per month. The lease term of 29 months covers 2,130 square feet with a maximum annual and total lease commitment of up to $21,300 and $51,475, respectively. Approximately $3,500 in improvements were provided. Any space not subleased may be used by the tenant rent-free for certain stated art uses, although the tenant is responsible for certain passthrough expenses such as electric and heat. Since rent is only due if the space is sublet, the Company believes the fair value of the space to the extent not sublet reflects a below market lease over the term ending December 31, 2018 of up to $ 51,475 and total commitments including both two-year renewal options of $136,675. The Company believes the lease is in the best interest of the Company as it supports the Company vision to achieve the highest and best use value for Flowerfield. The Company believes establishing an art community at Flowerfield compliments the interests identified in the subdivision application all of which supports maximizing the value of the real estate.

Note 16 - Related Party Trans_4

Note 16 - Related Party Transactions - Summary of Leasing Arrangements (Details) - Not-for-profit Corporation [Member]		1 Months Ended	12 Months Ended
		Apr. 30, 2017USD ($)ft²	Dec. 31, 2018USD ($)a
Lease Term May 2016 Through December 2018 [Member]
Square feet (Acre) | a			1,971
Annual rent			$ 16,754
Rent abatement	[1]		14,153
Total commitment			29,825
Additional commitment			$ 67,014
Lease Term August 2016 Through December 2018 [Member]
Square feet (Acre)		2,130	2,130
Annual rent		$ 21,300		[2]
Rent abatement	[2]
Total commitment	[2]
Additional commitment			$ 136,675
Lease Term May 2017 Through December 2018 [Member]
Square feet (Acre) | a			1,905
Annual rent			$ 16,193
Rent abatement			5,398
Total commitment			21,590
Additional commitment			$ 64,770
[1]	In exchange for the rent abatement, the tenant completed capital improvements that exceeded the abatement amount. In addition, the tenant signed a multi-year lease.
[2]	In April 2017, the Company extended the term of a master lease with the not-for-profit originally entered into in August 2016. The Company understood that the tenants' main intent was to sublease the space to artists, on a short-term basis, after which they would transition into their own space leased directly from the Company. Under the master lease, the tenant has the right to sublease the space to one or more artists, on a short-term basis. Under the terms of the master lease, rent is payable by the tenant only to the extent the space is sublet, at the rent amount per square foot payable by the subtenant up to a maximum of $10 per square foot per month. The lease term of 29 months covers 2,130 square feet with a maximum annual and total lease commitment of up to $21,300 and $51,475, respectively. Approximately $3,500 in improvements were provided. Any space not subleased may be used by the tenant rent-free for certain stated art uses, although the tenant is responsible for certain passthrough expenses such as electric and heat. Since rent is only due if the space is sublet, the Company believes the fair value of the space to the extent not sublet reflects a below market lease over the term ending December 31, 2018 of up to $ 51,475 and total commitments including both two-year renewal options of $136,675. The Company believes the lease is in the best interest of the Company as it supports the Company vision to achieve the highest and best use value for Flowerfield. The Company believes establishing an art community at Flowerfield compliments the interests identified in the subdivision application all of which supports maximizing the value of the real estate.

Note 18 - Subsequent Events (De

Note 18 - Subsequent Events (Details Textual)	Jan. 24, 2019USD ($)	Mar. 21, 2018USD ($)	Feb. 28, 2019USD ($)ft²	Dec. 31, 2018
Subsequent Event [Member] | Not-for-profit Corporation [Member]
Increase, Area of Real Estate Property | ft²			313
Operating Leases, Additional Commitment			$ 4,900
Decrease, Area of Real Estate Property | ft²			313
Non-revolving Credit Line [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 3,000,000
Debt Instrument, Interest and Principal Phase, Term		7 years
Proceeds from Lines of Credit, Total		$ 1,100,000
Debt Instrument, Interest Only Phase, Term		240 days
Non-revolving Credit Line [Member] | After Interest Only Payment Period [Member]
Debt Instrument, Interest Rate, Effective Percentage				5.125%
Debt Instrument, Amortization Period		20 years
Non-revolving Credit Line [Member] | After Interest Only Payment Period [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Effective Percentage		4.25%
Non-revolving Credit Line [Member] | Prime Rate [Member] | Interest Only Period of Payments [Member]
Debt Instrument, Basis Spread on Variable Rate		1.00%
Non-revolving Credit Line [Member] | Federal Home Loan Bank Rate [Member] | After Interest Only Payment Period [Member]
Debt Instrument, Basis Spread on Variable Rate		2.00%
Non-revolving Credit Line [Member] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 3,000,000
Debt Instrument, Interest and Principal Phase, Term	7 years
Line of Credit Facility, Additional Amount Intended to Be Drawn	$ 1,100,000
Non-revolving Credit Line [Member] | Subsequent Event [Member] | Interest Only Period of Payments [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Effective Percentage	6.50%
Non-revolving Credit Line [Member] | Subsequent Event [Member] | After Interest Only Payment Period [Member]
Debt Instrument, Interest Rate, Effective Percentage	5.125%
Debt Instrument, Amortization Period	20 years
Non-revolving Credit Line [Member] | Subsequent Event [Member] | Prime Rate [Member] | Interest Only Period of Payments [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Non-revolving Credit Line [Member] | Subsequent Event [Member] | Federal Home Loan Bank Rate [Member] | After Interest Only Payment Period [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%
Non-revolving Credit Line 2 [Member] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 3,000,000
Debt Instrument, Interest and Principal Phase, Term	7 years
Debt Instrument, Interest Only Phase, Term	2 years
Line of Credit Facility, Current Borrowing Capacity	$ 2,919,932
Debt Issuance Costs, Line of Credit Arrangements, Gross	$ 80,068
Non-revolving Credit Line 2 [Member] | Subsequent Event [Member] | Interest Only Period of Payments [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Effective Percentage	6.50%
Non-revolving Credit Line 2 [Member] | Subsequent Event [Member] | After Interest Only Payment Period [Member]
Debt Instrument, Interest Rate, Effective Percentage	5.125%
Debt Instrument, Amortization Period	20 years
Non-revolving Credit Line 2 [Member] | Subsequent Event [Member] | Prime Rate [Member] | Interest Only Period of Payments [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Non-revolving Credit Line 2 [Member] | Subsequent Event [Member] | Federal Home Loan Bank Rate [Member] | After Interest Only Payment Period [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%