Lightstone Value Plus REIT IV (LTSV) 10-Q 9 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	May 05, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	000-55773
Entity Registrant Name	Lightstone Value Plus REIT IV, Inc.
Entity Central Index Key	0001619312
Entity Tax Identification Number	47-1796830
Entity Incorporation, State or Country Code	MD
Entity Address, Address Line One	1985 Cedar Bridge Avenue
Entity Address, Address Line Two	Suite 1
Entity Address, City or Town	Lakewood
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08701
City Area Code	(732)
Local Phone Number	367-0129
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,500

CONSOLIDATED BALANCE SHEETS (un

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Investment property:
Construction in progress	$ 83,798,972	$ 72,999,787
Investment in unconsolidated affiliated real estate entity	10,719,698	10,793,084
Cash and cash equivalents	11,418,478	11,955,515
Restricted cash and other assets	878,098	440,855
Total Assets	106,815,246	96,189,241
Liabilities and Stockholders’ Equity
Mortgage payable, net	26,208,736	14,843,736
Accounts payable, accrued expenses and other liabilities	9,733,803	9,895,523
Subordinated advances - related party	13,684,744	13,638,646
Total Liabilities	49,627,283	38,377,905
Company’s Stockholders’ Equity:
Preferred stock, $0.01 par value; 50.0 million shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value; 200.0 million shares authorized, 8.5 million shares issued and outstanding	84,523	84,777
Additional paid-in-capital	70,942,083	71,157,978
Accumulated deficit	(26,161,846)	(25,651,846)
Total Company’s Stockholders’ Equity	44,864,760	45,590,909
Noncontrolling interests	12,323,203	12,220,427
Total Stockholders’ Equity	57,187,963	57,811,336
Total Liabilities and Stockholders’ Equity	$ 106,815,246	$ 96,189,241

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, par value per share	$ 0.01	$ 0.01
Preferred Stock, shares authorized	50,000,000	50,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value per share	$ 0.01	$ 0.01
Common Stock, shares authorized	200,000,000	200,000,000
Common Stock, shares issued	8,500,000	8,500,000
Common Stock, shares outstanding	8,500,000	8,500,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Loss:
Investment income	$ 0	$ 11,683
Loss from investment in unconsolidated affiliated real estate entity	(264,042)	(458,248)
Total loss	(264,042)	(446,565)
Expenses:
General and administrative costs	215,354	158,094
Interest expense	46,098	46,098
Total expenses	261,452	204,192
Net loss	(525,494)	(650,757)
Less: net loss attributable to noncontrolling interests	15,494	0
Net loss attributable to Company’s common shares	$ (510,000)	$ (650,757)
Net loss per common share, basic and diluted	$ (0.06)	$ (0.08)
Weighted average number of common shares outstanding, basic and diluted	8,459,314	8,537,424

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2020	$ 85,374	$ 71,665,213	$ (22,542,114)		$ 49,208,473
Shares, Outstanding, Beginning Balance at Dec. 31, 2020	8,537,424
Net loss			(650,757)		(650,757)
Ending balance, value at Mar. 31, 2021	$ 85,374	71,665,213	(23,192,871)		48,557,716
Ending balance, shares at Mar. 31, 2021	8,537,424
Beginning balance, value at Dec. 31, 2021	$ 84,777	71,157,978	(25,651,846)	12,220,427	57,811,336
Shares, Outstanding, Beginning Balance at Dec. 31, 2021	8,477,679
Net loss			(510,000)	(15,494)	(525,494)
Contributions of noncontrolling interests				118,270	118,270
Redemption and cancellation of common stock	$ 254	215,895			216,149
Redemption and cancellation of shares (in shares)	(25,429)
Ending balance, value at Mar. 31, 2022	$ 84,523	$ 70,942,083	$ (26,161,846)	$ 12,323,203	$ 57,187,963
Ending balance, shares at Mar. 31, 2022	8,452,250

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (525,494)	$ (650,757)
Adjustments to reconcile net loss to cash used in operating activities:
Loss from investment in unconsolidated affiliated real estate entity	264,042	458,248
Changes in assets and liabilities:
Increase in other assets	(304,946)	(143,499)
Increase in accounts payable, accrued expenses and other liabilities	390,890	288,417
Increase in accrued interest on subordinated advances - related party	46,098	46,098
Cash used in operating activities	(129,410)	(1,493)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of investment property	(10,775,241)	(3,193,979)
Investment in unconsolidated affiliated real estate entity	(190,657)	0
Cash used in investing activities	(10,965,898)	(3,193,979)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from mortgage financing	10,788,447	0
Payment of loan fees and expenses	0	(40,000)
Contributions of noncontrolling interests	118,270	0
Redemption and cancellation of common stock	(216,149)	0
Distributions paid to Company’s common stockholders	0	(3,151,447)
Cash provided by/(used in) financing activities	10,690,568	(3,191,447)
Net change in cash, cash equivalents and restricted cash	(404,740)	(6,386,919)
Cash, cash equivalents and restricted cash, beginning of year	12,197,119	31,490,826
Cash, cash equivalents and restricted cash, end of period	11,792,379	25,103,907
Supplemental disclosure of cash flow information:
Non-cash purchase of investment property	7,884,573	1,393,404
Unpaid interest accrued and capitalized as mortgage payable and construction in progress	130,560	0
Amortization of deferred financing costs included in construction in progress	445,994	13,333
The following is a summary of the Company’s cash, cash equivalents and restricted cash total as presented in our statements of cash flows for the periods presented:
Cash and cash equivalents	11,418,478	24,894,561
Restricted cash	373,901	209,346
Total cash, cash equivalents and restricted cash	$ 11,792,379	$ 25,103,907

Structure

Structure	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Structure	1. Structure Lightstone Value Plus REIT IV, Inc. (“Lightstone REIT IV”), which was formerly known as Lightstone Real Estate Income Trust, Inc. before September 15, 2021, is a Maryland corporation, formed on September 9, 2014 Lightstone REIT IV, together with its subsidiaries is collectively referred to as the “Company” and the use of “we,” “our,” “us” or similar pronouns refers to Lightstone REIT IV or the Company as required by the context in which any such pronoun is used. The Company has and intends to continue to seek opportunities to invest in real estate and real estate-related investments. The Company’s real estate investments may include operating properties and development projects and its real estate-related investment may include mezzanine loans, mortgage loans, bridge loans and preferred equity interests, with a focus on development-related investments, including investments intended to finance development or redevelopment opportunities. The Company may also invest in debt and derivative securities related to real estate assets. A portion of the Company’s investments by value may be secured by or related to properties or entities advised by, or wholly or partially, directly or indirectly owned by, The Lightstone Group, LLC (the “Sponsor”), its affiliates or other real estate investment programs it sponsors. Although the Company expects that most of its investments will be of these various types, it may also make other investments. In fact, it may invest in whatever types of investments that it believes are in its best interests. The Company currently has one operating segment. As of March 31, 2022, the Company majority owned and consolidated the operating results of a joint venture (the “Williamsburg Moxy Hotel Joint Venture”), in which it has a 75 33.3 The Company’s advisor is Lightstone Real Estate Income LLC (the “Advisor”), which is majority owned by David Lichtenstein. On September 12, 2014, the Advisor contributed $ 200,000 20,000 222,222 2.0 9.00 The Company does not have any employees. The Advisor receives compensation and fees for services related to the investment and management of the Company’s assets. The Advisor has certain affiliates which may manage the properties the Company acquires. However, the Company may also contract with other unaffiliated third-party property managers. The Company’s stock is not currently listed on a national securities exchange. The Company may seek to list its stock for trading on a national securities exchange only if a majority of its independent directors believe listing would be in the best interest of its stockholders. The Company does not intend to list its shares at this time. The Company does not anticipate that there would be any market for its shares of common stock until they are listed for trading. Noncontrolling Interests in Consolidated Subsidiaries Noncontrolling interests in consolidated subsidiaries represents the noncontrolling member’s 25% share of the equity in the Williamsburg Moxy Hotel Joint Venture held by Lightstone Value Plus REIT III, Inc (“Lightstone REIT III”), a REIT also sponsored by the Sponsor and a related party. Income and losses attributable to the Williamsburg Moxy Hotel Joint Venture are allocated to the noncontrolling interest holder based on its ownership percentage. See Note 3 for additional information.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The accompanying unaudited interim consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) and accruals necessary in the judgment of management for a fair presentation of the results for the periods presented. The accompanying unaudited consolidated financial statements of the Lightstone REIT IV and Subsidiaries have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. The consolidated financial statements have been prepared in accordance with GAAP. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during a reporting period. The most significant assumptions and estimates relate to the valuation of real estate and investments in other real estate entities The consolidated balance sheet as of December 31, 2021 included herein has been derived from the consolidated balance sheet included in the Company’s Annual Report on Form 10-K. The unaudited statements of operations for interim periods are not necessarily indicative of results for the full year or any other period. Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of Lightstone REIT IV and its subsidiaries (over which it exercises financial and operating control). All inter-company balances and transactions have been eliminated in consolidation. In addition, interests in entities acquired are evaluated based on applicable GAAP, and if deemed to be variable interest entities (“VIE”) in which we are the primary beneficiary are also consolidated. If the interest in the entity is determined not to be a VIE, then the entity is evaluated for consolidation based on legal form, economic substance, and the extent to which we have control, substantive participating rights or both under the respective ownership agreement. Investments in other real estate entities where the Company has the ability to exercise significant influence, but does not exercise financial and operating control, and is not considered to be the primary beneficiary are accounted for using the equity method. There are judgments and estimates involved in determining if an entity in which the Company has made an investment is a VIE and, if so, whether the Company is the primary beneficiary. The entity is evaluated to determine if it is a VIE by, among other things, calculating the percentage of equity being risked compared to the total equity of the entity. Determining expected future losses involves assumptions of various possibilities of the results of future operations of the entity, assigning a probability to each possibility and using a discount rate to determine the net present value of those future losses. A change in the judgments, assumptions, and estimates outlined above could result in consolidating an entity that should not be consolidated or accounting for an investment using the equity method that should in fact be consolidated, the effects of which could be material to our financial statements. Financial Instruments The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, restricted cash and other assets, accounts payable and accrued expenses and other liabilities approximate their fair values because of the short maturity of these instruments. The carrying amount of the mortgage payable approximates fair value because its interest rate is variable and reflective of market rates. COVID-19 Pandemic The World Health Organization declared COVID-19 a global pandemic on March 11, 2020 and since that time many of the previously imposed restrictions and other measures which were instituted in response have been subsequently reduced or lifted. However, the continuing COVID-19 pandemic remains highly unpredictable and dynamic and its ultimate duration and extent continue to be dependent on various developments, such as the emergence of variants to the virus that may cause additional strains of COVID-19, the ongoing administration and ultimate effectiveness of vaccines, including booster shots, and the eventual timeline to achieve a sufficient level of herd immunity among the general population. Accordingly, the ongoing COVID-19 pandemic may have negative effects on the health of the U.S. economy for the foreseeable future. To-date, the COVID-19 pandemic has not had any significant impact on the Company’s 210-room branded hotel (the “Williamsburg Moxy Hotel”) development project, which is currently under construction and expected to open during the fourth quarter of 2022. The Company’s other investment is its approximately 33.3 The extent to which the Company’s business may be affected by the ongoing COVID-19 pandemic will largely depend on both current and future developments, all of which are highly uncertain and cannot be reasonably predicted. If the Company’s investments in the Williamsburg Moxy Hotel development project and/or 40 East End Ave. Joint Venture are negatively impacted, its business and financial results could be materially and adversely impacted. New Accounting Pronouncements The Company has reviewed and determined that recently issued accounting pronouncements will not have a material impact on its financial position, results of operations and cash flows, or do not apply to its current operations.

Williamsburg Moxy Hotel

Williamsburg Moxy Hotel	3 Months Ended
	Mar. 31, 2022
Williamsburg Moxy Hotel
Williamsburg Moxy Hotel	3. Williamsburg Moxy Hotel On July 17, 2019, the Company, through its then wholly owned subsidiary, Bedford Avenue Holdings LLC acquired four adjacent parcels of land located at 353-361 Bedford Avenue in Brooklyn, New York (collectively, the “Williamsburg Land”), from unaffiliated third parties, for an aggregate purchase price of approximately $ 30.4 Williamsburg Moxy Joint Venture On August 5, 2021, the Company formed the Williamsburg Moxy Hotel Joint Venture with Lightstone REIT III, pursuant to which Lightstone REIT III acquired 25 7.9 4.4 0.1 As a result, the Company and Lightstone REIT III have 75 25 The Company has determined that the Williamsburg Moxy Hotel Joint Venture is a VIE and the Company is the primary beneficiary. As the Company is the member most closely associated with the Williamsburg Moxy Hotel Joint Venture and therefore has the power to direct the activities of the Williamsburg Moxy Hotel Joint Venture that most significantly impact its performance, the Company consolidates the operating results and financial condition of the Williamsburg Moxy Hotel Joint Venture and accounts for the ownership interest of Lightstone REIT III as noncontrolling interests. Contributions are allocated in accordance with each investor’s ownership percentage. Profit and cash distributions are allocated in accordance with each investor’s ownership percentage. On August 4, 2021, the Williamsburg Joint Venture entered into a development agreement (the “Development Agreement”) with an affiliate of the Advisor (the “Williamsburg Moxy Developer”) pursuant to which the Williamsburg Moxy Developer is being paid a development fee equal to 3% of hard and soft costs, as defined in the Development Agreement, incurred in connection with the development and construction of the Williamsburg Moxy Hotel (see Note 6 for additional information). Additionally on August 5, 2021, the Williamsburg Moxy Joint Venture obtained construction financing for the Williamsburg Moxy Hotel as discussed below. The Williamsburg Moxy Hotel is under currently under construction and expected to open during the fourth quarter of 2022. As of March 31, 2022, the Williamsburg Moxy Hotel Joint Venture incurred and capitalized to construction in progress an aggregate of $ 83.8 1.1 0.1 Moxy Construction Loan On August 5, 2021, the Williamsburg Moxy Hotel Joint Venture entered into a recourse construction loan facility for up to $ 77.0 The Moxy Construction Loan bears interest at LIBOR plus 9.00%, subject to a 9.50% floor, with monthly interest-only payments based on a rate of 7.50% with the accrued and unpaid interest added to the outstanding loan balance and due at maturity. The Moxy Construction Loan is collateralized by the Williamsburg Moxy Hotel. As of March 31, 2022 and December 31, 2021, the outstanding principal balance of the Moxy Construction Loan was $29.5 million (including $0.3 million of interest capitalized to principal) which is presented, net of deferred financing fees of $3.3 million and $18.6 million (including $0.1 million of interest capitalized to principal) which is presented, net of deferred financing fees of $3.7 million, respectively, on the consolidated balance sheets and is classified as mortgage payable, net. As of March 31, 2022, the remaining availability under the facility was up to $47.8 million. In connection with the Moxy Construction Loan, the Williamsburg Moxy Hotel Joint Venture has provided certain completion and carry cost guarantees. Furthermore, in connection with the Moxy Construction Loan, the Williamsburg Moxy Hotel Joint Venture paid $ 3.7 0.8

Investment in Unconsolidated Af

Investment in Unconsolidated Affiliated Real Estate Entity	3 Months Ended
	Mar. 31, 2022
Investment In Unconsolidated Affiliated Real Estate Entity
Investment in Unconsolidated Affiliated Real Estate Entity	4. Investment in Unconsolidated Affiliated Real Estate Entity 40 East End Ave. Joint Venture On March 31, 2017, the Company entered into a joint venture agreement (the “40 East End Ave. Transaction”) with SAYT Master Holdco LLC, an entity majority-owned and controlled by David Lichtenstein, who also majority owns and controls the Sponsor, a related party (the “40 East End Seller”), providing for the Company to acquire approximately 33.3 10.3 The Company’s ownership interest in the 40 East End Ave. Joint Venture is a non-managing interest. Because the Company exerts significant influence over but does not control the 40 East End Ave. Joint Venture, it accounts for its ownership interest in the 40 East End Ave. Joint Venture in accordance with the equity method of accounting. All contributions to and distributions of earnings from the 40 East End Ave. Joint Venture are made on a pro rata basis in proportion to each member’s equity interest percentage. Any distributions in excess of earnings from the 40 East End Ave. Joint Venture are made to the members pursuant to the terms of its operating agreement. The Company commenced recording its allocated portion of earnings and cash distributions, if any, from the 40 East End Ave. Joint Venture beginning as of March 31, 2017 with respect to its membership interest of approximately 33.3 30.0 12 The 40 East End Ave. Joint Venture, through affiliates, owns the 40 East End Avenue Project, a luxury residential 29-unit condominium project located at the corner of 81st Street and East End Avenue in the Upper East Side neighborhood of New York City. The 40 East End Avenue Project received its final TCO in March 2020 and through March 31, 2022, 16 of the condominium units have been sold. On December 19, 2019, the 40 East End Ave. Joint Venture obtained financing (the “Condo Loan”) from a financial institution of $ 95.2 90.2 5.0 December 19, 2021 LIBOR plus 2.45% On December 30, 2021, the 40 East End Ave. Joint Venture and the financial institution amended the Condo Loan providing for an extension of the maturity date to December 20, 2022 and revisions to the timing and amounts of required principal payments to be made from proceeds from the sale of condominium units. Pursuant to the amended terms of the Condo Loan, the 40 East End Ave. Joint Venture would have been required to make a principal paydown on May 20, 2022, if the then outstanding principal balance of the Condo Loan has not been paid down to at least $ 26.5 32.0 8.9 23.1 As discussed above, the Condo Loan is currently scheduled to mature on December 20, 2022. If the Condo Loan has not been repaid in full before its maturity date, the 40 East End Ave. Joint Venture intends to seek a further extension to the maturity date . The Sponsor and its affiliates (collectively, the “40 East End Guarantors”) have provided certain guarantees with respect to the Condo Loan and the members have agreed to reimburse the 40 East End Guarantors for any balance that may become due under the guarantees (the “40 East End Guarantee”), of which the Company’s share is approximately 33.3 In connection with the closing of the Condo Loan, the 40 East End Ave. Joint Venture used a portion of the initial loan proceeds to (i) fully repay an aggregate of $ 80.5 9.5 3.5 11.0 6.0 Subsequent to the Company’s acquisition through March 31, 2022, it has made an aggregate of $ 6.1 0.2 The 40 East End Ave. Joint Venture Financial Information The following table represents the condensed income statements for the 40 East End Ave. Joint Venture: Schedule of financial information of joint venture (amounts in thousands) For the Three Months Ended March 31, For the Three Months Ended March 31, Revenues $ 4,794 $ 10,507 Cost of goods sold 4,660 10,279 Impairment of real estate inventory 112 - Other expenses 387 642 Operating loss (365 ) (414 ) Interest expense and other, net (428 ) (962 ) Net loss $ (793 ) $ (1,376 ) Company’s share of net loss (33.3%) $ (264 ) $ (458 ) The following table represents the condensed balance sheets for the 40 East End Ave. Joint Venture: As of As of (amounts in thousands) March 31, December 31, Real estate inventory $ 69,717 $ 74,481 Cash and restricted cash 807 767 Other assets 284 436 Total assets $ 70,808 $ 75,684 Mortgage payable, net $ 31,971 $ 36,391 Other liabilities 709 972 Members’ capital 38,128 38,321 Total liabilities and members’ capital $ 70,808 $ 75,684

Stockholders_ Equity

Stockholders’ Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders’ Equity	5. Stockholders’ Equity Distributions On March 25, 2020, the Board of Directors determined to suspend regular monthly distributions for months ending after March 2020. Future distributions, if any, declared will be at the discretion of the Board of Directors based on their analysis of the Company’s performance over the previous periods and expectations of performance for future periods. The Board of Directors will consider various factors in its determination, including but not limited to, the sources and availability of capital, operating and interest expenses, the Company’s ability to refinance near-term debt, as well as the IRS’s annual distribution requirement that REITs distribute no less than 90% of their taxable income. The Company cannot assure that any future distributions will be made or that it will maintain any particular level of distributions that it has previously established or may establish. Share Repurchase Program The Company’s share repurchase program may provide its stockholders with limited, interim liquidity by enabling them to sell their Common Shares back to the Company, subject to restrictions. On March 25, 2020, the Board of Directors amended the share repurchase program to remove stockholder notice requirements and also approved the suspension of all redemptions effective immediately. Effective May 10, 2021, the Board of Directors reopened the share repurchase program for redemptions submitted in connection with a stockholder’s death or hardship and set the price for all such purchases at the Company’s estimated net asset value per share, as determined by the Company’s board of directors and reported by the Company from time to time. Deaths that occurred subsequent to January 1, 2020 are eligible for consideration, subject to certain conditions. Beginning January 1, 2022, requests for redemptions in connection with a stockholder’s death must be submitted and received by the Company within one year of the stockholder’s date of death for consideration. On an annual basis, the Company will not redeem in excess of 0.5 For the three months ended March 31, 2022, the Company repurchased 25,429 8.50 Net Earnings per Common Share Net earnings per Common Share on a basic and fully diluted basis is earnings divided by the weighted average number of shares of common stock outstanding. The Company does not have any potentially dilutive securities.

Related Party Transactions and

Related Party Transactions and Other Arrangements	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions and Other Arrangements	6. Related Party Transactions and Other Arrangements The Company has agreements with the Advisor to pay certain fees, in exchange for services performed by the Advisor and/or its affiliated entities. The advisory agreement has a one-year term and is renewable for an unlimited number of successive one-year periods upon the mutual consent of the Advisor and the Company’s independent directors. Payments to the Advisor or its affiliates may include asset acquisition fees and the reimbursement of acquisition-related expenses, development fees and the reimbursement of development-related costs, financing coordination fees, asset management fees or asset management participation, and construction management fees. The Company may also reimburse the Advisor and its affiliates for actual expenses it incurs for administrative and other services provided for it. Upon the liquidation of the Company’s assets, it may pay the Advisor or its affiliates a disposition commission. Development fees and the reimbursement of development-related costs that the Williamsburg Moxy Joint Venture pays to the Advisor and its affiliates are capitalized and included in the carrying value of the investment in the Williamsburg Moxy Hotel, which is classified as construction in progress on the consolidated balance sheets. During the three months ended March 31, 2022 and 2021, the Company incurred development fees and reimbursed development-related costs totaling $ 0.4 0.1 As of December 31 0.3 49,413 Subordinated Advances – Related Party On March 18, 2016, the Company entered into a subordinated unsecured loan agreement (the “Subordinated Agreement”) with the Sponsor pursuant to which the Sponsor made aggregate principal advances of $ 12.6 1.48 10.00 8.0 Distributions in connection with a liquidation of the Company initially will be made to holders of its Common Shares until holders of its Common Shares have received liquidation distributions equal to their respective net investments plus a cumulative, pre-tax, non-compounded annual return of 8.0 85.0 15.0 The principal advances and the related interest are subordinate to all of the Company’s obligations as well as to the holders of its Common Shares in an amount equal to the shareholder’s net investment plus a cumulative, pre-tax, non-compounded annual return of 8.0 In connection with the termination of the Offering, on March 31, 2017, the Company and the Sponsor simultaneously terminated the Subordinated Agreement. As a result of the termination, the Sponsor is no longer obligated to make any additional principal advances to the Company. Interest will continue to accrue on the outstanding principal advances and repayment, if any, of the principal advances and related accrued interest will be made according to the terms of the Subordinated Agreement disclosed above. As of both March 31, 2022 and December 31, 2021, an aggregate of approximately $ 12.6 1.1 1.0 46,098

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Legal Proceedings From time to time in the ordinary course of business, the Company may become subject to legal proceedings, claims or disputes. As of the date hereof, the Company is not a party to any material pending legal proceedings of which the outcome is probable or reasonably possible to have a material adverse effect on its results of operations or financial condition, which would require accrual or disclosure of the contingency and possible range of loss. Additionally, the Company has not recorded any loss contingencies related to legal proceedings in which the potential loss is deemed to be remote.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of Lightstone REIT IV and its subsidiaries (over which it exercises financial and operating control). All inter-company balances and transactions have been eliminated in consolidation. In addition, interests in entities acquired are evaluated based on applicable GAAP, and if deemed to be variable interest entities (“VIE”) in which we are the primary beneficiary are also consolidated. If the interest in the entity is determined not to be a VIE, then the entity is evaluated for consolidation based on legal form, economic substance, and the extent to which we have control, substantive participating rights or both under the respective ownership agreement. Investments in other real estate entities where the Company has the ability to exercise significant influence, but does not exercise financial and operating control, and is not considered to be the primary beneficiary are accounted for using the equity method. There are judgments and estimates involved in determining if an entity in which the Company has made an investment is a VIE and, if so, whether the Company is the primary beneficiary. The entity is evaluated to determine if it is a VIE by, among other things, calculating the percentage of equity being risked compared to the total equity of the entity. Determining expected future losses involves assumptions of various possibilities of the results of future operations of the entity, assigning a probability to each possibility and using a discount rate to determine the net present value of those future losses. A change in the judgments, assumptions, and estimates outlined above could result in consolidating an entity that should not be consolidated or accounting for an investment using the equity method that should in fact be consolidated, the effects of which could be material to our financial statements.
Financial Instruments	Financial Instruments The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, restricted cash and other assets, accounts payable and accrued expenses and other liabilities approximate their fair values because of the short maturity of these instruments. The carrying amount of the mortgage payable approximates fair value because its interest rate is variable and reflective of market rates.
COVID-19 Pandemic	COVID-19 Pandemic The World Health Organization declared COVID-19 a global pandemic on March 11, 2020 and since that time many of the previously imposed restrictions and other measures which were instituted in response have been subsequently reduced or lifted. However, the continuing COVID-19 pandemic remains highly unpredictable and dynamic and its ultimate duration and extent continue to be dependent on various developments, such as the emergence of variants to the virus that may cause additional strains of COVID-19, the ongoing administration and ultimate effectiveness of vaccines, including booster shots, and the eventual timeline to achieve a sufficient level of herd immunity among the general population. Accordingly, the ongoing COVID-19 pandemic may have negative effects on the health of the U.S. economy for the foreseeable future. To-date, the COVID-19 pandemic has not had any significant impact on the Company’s 210-room branded hotel (the “Williamsburg Moxy Hotel”) development project, which is currently under construction and expected to open during the fourth quarter of 2022. The Company’s other investment is its approximately 33.3 The extent to which the Company’s business may be affected by the ongoing COVID-19 pandemic will largely depend on both current and future developments, all of which are highly uncertain and cannot be reasonably predicted. If the Company’s investments in the Williamsburg Moxy Hotel development project and/or 40 East End Ave. Joint Venture are negatively impacted, its business and financial results could be materially and adversely impacted.
New Accounting Pronouncements	New Accounting Pronouncements The Company has reviewed and determined that recently issued accounting pronouncements will not have a material impact on its financial position, results of operations and cash flows, or do not apply to its current operations.

Investment in Unconsolidated _2

Investment in Unconsolidated Affiliated Real Estate Entity (Tables)	3 Months Ended
	Mar. 31, 2022
Investment In Unconsolidated Affiliated Real Estate Entity
Schedule of financial information of joint venture	Schedule of financial information of joint venture (amounts in thousands) For the Three Months Ended March 31, For the Three Months Ended March 31, Revenues $ 4,794 $ 10,507 Cost of goods sold 4,660 10,279 Impairment of real estate inventory 112 - Other expenses 387 642 Operating loss (365 ) (414 ) Interest expense and other, net (428 ) (962 ) Net loss $ (793 ) $ (1,376 ) Company’s share of net loss (33.3%) $ (264 ) $ (458 ) The following table represents the condensed balance sheets for the 40 East End Ave. Joint Venture: As of As of (amounts in thousands) March 31, December 31, Real estate inventory $ 69,717 $ 74,481 Cash and restricted cash 807 767 Other assets 284 436 Total assets $ 70,808 $ 75,684 Mortgage payable, net $ 31,971 $ 36,391 Other liabilities 709 972 Members’ capital 38,128 38,321 Total liabilities and members’ capital $ 70,808 $ 75,684

Structure (Details Narrative)

Structure (Details Narrative) - USD ($)	Sep. 12, 2014	Jun. 15, 2015	Mar. 31, 2022
Schedule of Equity Method Investments [Line Items]
Date of incorporation			Sep. 9, 2014
Shares issued, price per share			$ 8.50
Company Owned By David Lichtenstein [Member]
Schedule of Equity Method Investments [Line Items]
Stock Issued During Period, Value, New Issues	$ 200,000
Lightstone Real Estate Income Llc [Member]
Schedule of Equity Method Investments [Line Items]
Stock Issued During Period, Shares, New Issues	20,000
David Lichtenstein [Member]
Schedule of Equity Method Investments [Line Items]
Stock Issued During Period, Shares, New Issues		222,222
Proceeds from issuance of common stock		$ 2,000,000
Shares issued, price per share		$ 9
Williamsburg Moxy Hotel Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Membership interest (as a percentage)			75.00%
40 East End Ave Project [Member]
Schedule of Equity Method Investments [Line Items]
Membership interest (as a percentage)			33.30%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative)	Mar. 31, 2022
40 East End Ave Pref Llc [Member]
Schedule of Equity Method Investments [Line Items]
Membership interest (as a percentage)	33.30%

Williamsburg Moxy Hotel (Detail

Williamsburg Moxy Hotel (Details Narrative) - USD ($)	Aug. 05, 2021	Jul. 17, 2019	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Additional capital contributions			$ 100,000
Construction in progress, gross			83,798,972		$ 72,999,787
Business combination consideration description	The Moxy Construction Loan bears interest at LIBOR plus 9.00%, subject to a 9.50% floor, with monthly interest-only payments based on a rate of 7.50% with the accrued and unpaid interest added to the outstanding loan balance and due at maturity. The Moxy Construction Loan is collateralized by the Williamsburg Moxy Hotel. As of March 31, 2022 and December 31, 2021, the outstanding principal balance of the Moxy Construction Loan was $29.5 million (including $0.3 million of interest capitalized to principal) which is presented, net of deferred financing fees of $3.3 million and $18.6 million (including $0.1 million of interest capitalized to principal) which is presented, net of deferred financing fees of $3.7 million, respectively, on the consolidated balance sheets and is classified as mortgage payable, net. As of March 31, 2022, the remaining availability under the facility was up to $47.8 million.
Williamsburg Land [Member]
Property, Plant and Equipment [Line Items]
Purchase price amount		$ 30,400,000
Business acqired percentage	25.00%
Aggregate consideration	$ 7,900,000
Additional capital contributions			4,400,000
Construction in progress, gross			83,800,000
Capitalized interest			1,100,000	$ 100,000
Loan fees			3,700,000
Loan exit fees			$ 800,000
Williamsburg Land [Member] | Mortgage Loan [Member]
Property, Plant and Equipment [Line Items]
Business combination consideration of loan facility	$ 77,000,000
Williamsburg Land [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Business acqired percentage	75.00%
Williamsburg Land [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Business acqired percentage	25.00%

Investments in Unconsolidated A

Investments in Unconsolidated Affiliated Real Estate Entities (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Operating loss	$ (264,042)	$ (446,565)
Net loss	(525,494)	(650,757)
Total assets	106,815,246		$ 96,189,241
Mortgage payable, net	26,208,736		14,843,736
Members' capital	44,864,760		45,590,909
Total liabilities and members' capital	106,815,246		96,189,241
40 East End Ave Pref Llc [Member]
Schedule of Equity Method Investments [Line Items]
Revenues	4,794,000	10,507,000
Cost of goods sold	4,660,000	10,279,000
Impairment of real estate inventory	112,000
Other expenses	387,000	642,000
Operating loss	(365,000)	(414,000)
Interest expense and other, net	(428,000)	(962,000)
Net loss	(793,000)	(1,376,000)
Company's share of net loss	(264,000)	$ (458,000)
Real estate inventory	69,717,000		74,481,000
Cash and restricted cash	807,000		767,000
Other assets	284,000		436,000
Total assets	70,808,000		75,684,000
Mortgage payable, net	31,971,000		36,391,000
Other liabilities	709,000		972,000
Members' capital	38,128,000		38,321,000
Total liabilities and members' capital	$ 70,808,000		$ 75,684,000

Investment in Unconsolidated _3

Investment in Unconsolidated Affiliated Real Estate Entity (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended
	Apr. 30, 2022	Dec. 19, 2019	Mar. 31, 2017	Mar. 31, 2022	May 20, 2022	Dec. 31, 2021	Feb. 13, 2020	Dec. 26, 2019
Net Investment Income [Line Items]
Mortgage payable net				$ 26,208,736		$ 14,843,736
Preferred contributions				6,000,000
Aggregate amount				6,100,000
Business combination consideration investment				200,000
Lightstone [Member]
Net Investment Income [Line Items]
Preferred contributions				9,500,000
Gain (Loss) on Extinguishment of Debt				80,500,000
Lightstone Value Plus Real Estate Investment Trust Inc [Member]
Net Investment Income [Line Items]
Redemption of Preferred Contributions							$ 11,000,000	$ 3,500,000
Condo Loan [Member]
Net Investment Income [Line Items]
Proceeds from (Repayments of) Debt				$ 32,000,000
Condo Loan [Member] | Subsequent Event [Member]
Net Investment Income [Line Items]
Proceeds from (Repayments of) Debt	$ 23,100,000
Sale of aggregate value	$ 8,900,000
Condo Loan [Member]
Net Investment Income [Line Items]
Line of credit					$ 26,500,000
40 East End Ave Pref Llc [Member]
Net Investment Income [Line Items]
Interest rate			33.30%
Business combination, consideration transferred			$ 10,300,000
Equity Method Investment, Ownership Percentage			33.30%
Preferred contributions			$ 30,000,000
Preferred stock, dividend rate, percentage			12.00%
Maturity date		Dec. 19, 2021
Debt Instrument, Description of Variable Rate Basis		LIBOR plus 2.45%
40 East End Ave Pref Llc [Member] | Condo Loan [Member]
Net Investment Income [Line Items]
Line of credit facility, maximum borrowing capacity		$ 95,200,000
Mortgage payable net		90,200,000
Remaining borrowing capacity		$ 5,000,000
Forty East End Guarantors [Member]
Net Investment Income [Line Items]
Equity Method Investment, Ownership Percentage			33.30%

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative)	3 Months Ended
	Mar. 31, 2022USD ($)$ / shares
Equity [Abstract]
Share redemption program, annual limitation, percentage of weighted average shares outstanding	0.50%
Repurchasement of common shares | $	$ 25,429
Share price | $ / shares	$ 8.50

Related Party Transactions an_2

Related Party Transactions and Other Arrangements (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Mar. 18, 2016
Related Party Transaction [Line Items]
Development fees	$ 400,000	$ 100,000
Accounts paybale			$ 300,000
Common per share				$ 10
Net investment annual return				8.00%
Additional cummulative net investment rate				8.00%
Additional distributions rate				85.00%
Aggregate amount rate				15.00%
Pre-tax, non-compounded annual return				8.00%
Subordinated Advances [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt	12,600,000		12,600,000
Accrued interest	1,100,000		$ 1,000,000
Interest expense	$ 46,098	46,098
Subordinated Agreement [Member]
Related Party Transaction [Line Items]
Principal amount				$ 12,600,000
Interest rate				1.48%
Advisor [Member]
Related Party Transaction [Line Items]
Due from related party		$ 49,413