Clipper Realty (CLPR) 10-K 15 Mar 22 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 15, 2022	Jun. 30, 2021
Document Information [Line Items]
Entity Central Index Key	0001649096
Entity Registrant Name	Clipper Realty Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-38010
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	47-4579660
Entity Address, Address Line One	4611 12th Avenue, Suite 1L
Entity Address, City or Town	Brooklyn
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11219
City Area Code	718
Local Phone Number	438-2804
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	CLPR
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 93,480,997
Entity Common Stock, Shares Outstanding		16,063,228
Auditor Name	BDO USA, LLP
Auditor Location	New York, New York
Auditor Firm ID	243

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Land and improvements	$ 540,859,000	$ 540,859,000
Building and improvements	649,686,000	630,662,000
Tenant improvements	3,406,000	3,121,000
Furniture, fixtures and equipment	12,500,000	12,217,000
Real estate under development	97,301,000	36,118,000
Total investment in real estate	1,303,752,000	1,222,977,000
Accumulated depreciation	(158,002,000)	(132,479,000)
Investment in real estate, net	1,145,750,000	1,090,498,000
Cash and cash equivalents	34,524,000	72,058,000
Restricted cash	17,700,000	16,974,000
Tenant and other receivables, net of allowance for doubtful accounts of $7,905 and $5,993, respectively	10,260,000	7,002,000
Deferred rent	2,656,000	2,454,000
Deferred costs and intangible assets, net	7,126,000	7,720,000
Prepaid expenses and other assets	15,641,000	11,160,000
TOTAL ASSETS	1,233,657,000	1,207,866,000
LIABILITIES AND EQUITY
Notes payable, net of unamortized loan costs of $12,898 and $10,262, respectively	1,131,154,000	1,079,458,000
Accounts payable and accrued liabilities	19,558,000	11,725,000
Security deposits	7,110,000	6,983,000
Below-market leases, net	53,000	157,000
Other liabilities	5,833,000	5,429,000
TOTAL LIABILITIES	1,163,708,000	1,103,752,000
Equity:
Preferred stock, $0.01 par value; 100,000 shares authorized (including 140 shares of 12.5% Series A cumulative non-voting preferred stock), zero shares issued and outstanding	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized, 16,063,228 and 16,063,228 shares issued and outstanding, respectively	160,000	160,000
Additional paid-in-capital	88,089,000	87,347,000
Accumulated deficit	(61,736,000)	(48,045,000)
Total stockholders’ equity	26,513,000	39,462,000
Non-controlling interests	43,436,000	64,652,000
TOTAL EQUITY	69,949,000	104,114,000
TOTAL LIABILITIES AND EQUITY	$ 1,233,657,000	$ 1,207,866,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Allowance for doubtful accounts	$ 7,905	$ 5,993
Unamortized loan costs	$ 12,898	$ 10,262
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000	100,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	16,063,228	16,063,228
Common stock, shares outstanding (in shares)	16,063,228	16,063,228
Series A Cumulative Non-Voting Preferred Stock [Member]
Preferred stock, shares authorized (in shares)	140	140
Preferred stock, dividend rate, percentage	12.50%	12.50%

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
REVENUES
TOTAL REVENUES	$ 122,729	$ 122,850	$ 116,165
OPERATING EXPENSES
Property operating expenses	28,997	29,902	28,887
Real estate taxes and insurance	30,449	28,286	24,966
General and administrative	10,570	9,728	9,167
Transaction pursuit costs	60	0	0
Depreciation and amortization	25,762	23,630	19,649
TOTAL OPERATING EXPENSES	95,838	91,546	82,669
Gain on termination of lease	0	838	0
Litigation settlement and other	(2,730)	0	0
INCOME FROM OPERATIONS	24,161	32,142	33,496
Interest expense, net	(41,284)	(40,228)	(35,187)
Loss on modification/extinguishment of debt	(3,034)	(4,228)	(2,432)
Gain on involuntary conversion	139	85	0
Net loss	(20,018)	(12,229)	(4,123)
Net loss attributable to non-controlling interests	12,431	7,323	2,458
Net loss attributable to common stockholders	$ (7,587)	$ (4,906)	$ (1,665)
Basic and diluted net loss per share (in dollars per share)	$ (0.51)	$ (0.31)	$ (0.11)
Residential Rental [Member]
REVENUES
TOTAL REVENUES	$ 85,771	$ 90,543	$ 87,386
Commercial Real Estate [Member]
REVENUES
TOTAL REVENUES	$ 36,958	$ 32,307	$ 28,779

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2018	17,812,755
Balance at Dec. 31, 2018	$ 178	$ 92,945	$ (27,941)	$ 65,182	$ 96,303	$ 161,485
Issuance of common stock (in shares)	1,917
Issuance of common stock	$ 0	25	0	25	0	25
Redemption of LTIP grants	0	25	0	25	0	25
Redemption of LTIP grants	0	(25)	0	(25)	0	(25)
Amortization of LTIP grants					1,510	1,510
Dividends and distributions			(6,769)	(6,769)		(17,089)
Dividends and distributions					(10,320)
Net loss			(1,665)	(1,665)	(2,458)	(4,123)
Reallocation of non-controlling interests	$ 0	486	0	486	(486)	0
Balance (in shares) at Dec. 31, 2019	17,814,672
Balance at Dec. 31, 2019	$ 178	93,431	(36,375)	57,234	84,549	141,783
Amortization of LTIP grants					1,805	1,805
Dividends and distributions			(6,764)	(6,764)		(17,243)
Dividends and distributions					(10,479)
Net loss			(4,906)	(4,906)	(7,323)	(12,229)
Reallocation of non-controlling interests	$ 0	3,900	0	3,900	(3,900)	$ 0
Repurchase of common stock (in shares)	(1,751,444)					(1,751,444)
Repurchase of common stock	$ (18)	(9,984)	0	(10,002)	0	$ (10,002)
Repurchase of common stock	$ 18	9,984	0	10,002	0	10,002
Balance (in shares) at Dec. 31, 2020	16,063,228
Balance at Dec. 31, 2020	$ 160	87,347	(48,045)	39,462	64,652	104,114
Amortization of LTIP grants					2,611	2,611
Dividends and distributions			(6,104)	(6,104)		(16,758)
Dividends and distributions					(10,654)
Net loss			(7,587)	(7,587)	(12,431)	(20,018)
Reallocation of non-controlling interests	$ 0	742	0	742	(742)	0
Balance (in shares) at Dec. 31, 2021	16,063,228
Balance at Dec. 31, 2021	$ 160	$ 88,089	$ (61,736)	$ 26,513	$ 43,436	$ 69,949

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended			24 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (20,018)	$ (12,229)	$ (4,123)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	25,536	23,148	18,956
Amortization of deferred financing costs	1,247	1,212	1,687
Amortization of deferred costs and intangible assets	707	963	1,175
Amortization of above- and below-market leases	(104)	(390)	(1,180)
Loss on modification/extinguishment of debt	3,034	4,228	2,432
Gain on involuntary conversion	(139)	(85)	0
Gain on termination of lease	0	(838)	0
Deferred rent	(202)	(1,180)	1,211
Stock-based compensation	2,611	1,805	1,510
Bad debt expense	1,850	2,543	0
Transaction pursuit costs	60	0	0
Changes in operating assets and liabilities:
Tenant and other receivables	(5,108)	(5,358)	(607)
Prepaid expenses, other assets and deferred costs	(2,639)	3,228	(1,256)
Accounts payable and accrued liabilities	3,456	(1,602)	2,586
Security deposits	127	(587)	933
Other liabilities	404	1,132	448
Net cash provided by operating activities	10,822	15,990	23,772
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to land, buildings and improvements	(35,531)	(31,811)	(43,774)
Insurance proceeds from involuntary conversion	150	111	0
Sale and purchase of interest rate caps, net	0	(14)	0
Acquisition deposit	(2,015)	0	0
Cash paid in connection with acquisition of real estate	(40,548)	0	(31,129)
Net cash used in investing activities	(77,944)	(31,714)	(74,903)
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchase of common stock	0	(10,002)	0
Payments of mortgage notes	(97,432)	(249,630)	(142,638)
Proceeds from mortgage notes	151,764	329,919	226,457
Dividends and distributions	(16,758)	(17,243)	(17,089)
Loan issuance and extinguishment costs	(7,260)	(5,220)	(4,531)
Net cash provided by financing activities	30,314	47,824	62,199
Net (decrease) increase in cash and cash equivalents and restricted cash	(36,808)	32,100	11,068
Cash and cash equivalents and restricted cash – beginning of period	89,032	56,932	45,864	$ 56,932
Cash and cash equivalents and restricted cash – end of period	52,224	89,032	56,932	52,224
Cash and cash equivalents - beginning of period	72,058	42,500	37,028	42,500
Restricted cash - beginning of period	16,974	14,432	8,836	14,432
Cash and cash equivalents - end of period	34,524	72,058	42,500	34,524
Restricted cash - end of period	17,700	16,974	14,432	$ 17,700
Supplemental cash flow information:
Cash paid for interest, net of capitalized interest of $1,740, $1,456 and $5,687 in 2021, 2020 and 2019, respectively	40,227	39,592	33,956
Non-cash interest capitalized to real estate under development	343	1,060	956
Additions to investment in real estate included in accounts payable and accrued liabilities	$ 8,566	$ 4,189	$ 3,891

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Capitalized interest	$ 1,740	$ 1,456	$ 5,687

Note 1 - Organization

Note 1 - Organization	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Clipper Realty Inc. (the “Company” or “We”) was organized in the state of Maryland on July 7, 2015. August 3, 2015, one On June 27, 2016, 1955 On February 9, 2017, March 10, 2017) On May 9, 2017, 107 On October 27, 2017, 10 65 th On November 8, 2019, 1010 During the period December 2021 February 2022, two As of December 31, 2021, • Tribeca House in Manhattan, comprising two one one • Flatbush Gardens in Brooklyn, a 59-building residential housing complex with 2,494 rentable units; • 141 • 250 • Aspen in Manhattan, a 7-story building containing residential and retail space with approximately 166,000 square feet of residential rental GLA and approximately 21,000 square feet of retail rental GLA; • Clover House in Brooklyn, a 11-story residential building with approximately 102,000 square feet of residential rental GLA; • 10 65 th • 1010 • Dean Street in Brooklyn, which the Company plans to redevelop as a 9-story residential building with approximately 160,000 square feet of residential rental GLA and approximately 9,000 of retail space. Square footage, leased occupancy percentage and rentable unit disclosures in the consolidated financial statements are unaudited. During 2019, December 31, 2021 2020, The operations of Clipper Realty Inc. and its consolidated subsidiaries are carried on primarily through the Operating Partnership. The Company has elected to be taxed as a Real Estate Investment Trust (“REIT”) under Sections 856 860 At December 31, 2021, The Company determined that the Operating Partnership and the LLCs are variable interest entities (“VIEs”) and that the Company was the primary beneficiary. The assets and liabilities of these VIEs represented substantially all of the Company’s assets and liabilities.

Note 2 - Issuance Repurchase of

Note 2 - Issuance Repurchase of Common Stock	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Sale of Common Stock and Formation Transactions [Text Block]	2. On April 9, 2019, one one one not In August 2020, 2020,

Note 3 - Significant Accounting

Note 3 - Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	3. Segments At December 31, 2021, two may Basis of Consolidation The accompanying consolidated financial statements of the Company are prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). The effect of all intercompany balances has been eliminated. The consolidated financial statements include the accounts of all entities in which the Company has a controlling interest. The ownership interests of other investors in these entities are recorded as non-controlling interests. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from these estimates. Investment in Real Estate Real estate assets held for investment are carried at historical cost and consist of land, buildings and improvements, furniture, fixtures and equipment. Expenditures for ordinary repair and maintenance costs are charged to expense as incurred. Expenditures for improvements, renovations, and replacements of real estate assets are capitalized and depreciated over their estimated useful lives if the expenditures qualify as betterments or the life of the related asset will be substantially extended beyond the original life expectancy. In accordance with ASU 2018 01, not • Substantially all of the fair value of the gross assets acquired is concentrated in either a single identifiable asset or a group of similar identifiable assets; or • The integrated set of assets and activities is lacking, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs (i.e., revenue generated before and after the transaction). An acquired process is considered substantive if: • The process includes an organized workforce (or includes an acquired contract that provides access to an organized workforce) that is skilled, knowledgeable and experienced in performing the process; • The process cannot be replaced without significant cost, effort or delay; or • The process is considered unique or scarce. Generally, the Company expects that acquisitions of real estate or in-substance real estate will not not Upon acquisition of real estate, the Company assesses the fair values of acquired tangible and intangible assets including land, buildings, tenant improvements, above-market and below-market leases, in-place leases and any other identified intangible assets and assumed liabilities. The Company allocates the purchase price to the assets acquired and liabilities assumed in an asset acquisition based on their relative fair values. In estimating fair value of tangible and intangible assets acquired, the Company assesses and considers fair value based on estimated cash flow projections that utilize appropriate discount and capitalization rates, estimates of replacement costs, net of depreciation, and available market information. The fair value of the tangible assets of an acquired property considers the value of the property as if it were vacant. The Company records acquired above-market and below-market lease values initially based on the present value, using a discount rate which reflects the risks associated with the leases acquired based on the difference between (i) the contractual amounts to be paid pursuant to each in-place lease and (ii) management’s estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining term of the lease for above-market leases and the initial term plus the term of any below-market fixed renewal options for the below-market leases. Other intangible assets acquired include amounts for in-place lease values and tenant relationship values (if any) that are based on management’s evaluation of the specific characteristics of each tenant’s lease and the Company’s overall relationship with the respective tenant. Factors to be considered by management in its analysis of in-place lease values include an estimate of carrying costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods, depending on local market conditions. In estimating costs to execute similar leases, management considers leasing commissions, legal and other related expenses. The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not not December 31, 2021. For long-lived assets to be disposed of, impairment losses are recognized when the fair value of the assets less estimated cost to sell is less than the carrying value of the assets. Properties classified as real estate held-for-sale generally represent properties that are actively marketed or contracted for sale with closing expected to occur within the next twelve not If a tenant vacates its space prior to the contractual termination of the lease and no Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows: Building and improvements (in years) 10 – 44 Tenant improvements Shorter of useful life or lease term Furniture, fixtures and equipment (in years) 3 – 15 The capitalized above-market lease values are amortized as a reduction to base rental revenue over the remaining terms of the respective leases, and the capitalized below-market lease values are amortized as an increase to base rental revenue over the remaining initial terms plus the terms of any below-market fixed rate renewal options of the respective leases. The value of in-place leases is amortized to expense over the remaining initial terms of the respective leases. Cash and Cash Equivalents Cash and cash equivalents are defined as cash on hand and in banks, plus all short-term investments with a maturity of three may No Restricted Cash Restricted cash generally consists of escrows for future real estate taxes and insurance expenditures, repairs, capital improvements, loan reserves and security deposits. Tenant and Other Receivables and Allowance for Doubtful Accounts Tenant and other receivables are comprised of amounts due for monthly rents and other charges less allowance for doubtful accounts. The Company periodically performs a detailed review of amounts due from tenants to determine if accounts receivable balances are impaired based on factors affecting the collectability of those balances. If a tenant fails to make contractual payments beyond any allowance, the Company may Deferred Costs Deferred lease costs consist of fees incurred to initiate and renew operating leases. Lease costs are being amortized using the straight-line method over the terms of the respective leases. Deferred financing costs represent commitment fees, legal and other third not Comprehensive Income (Loss) Comprehensive income (loss) is comprised of net income (loss) adjusted for changes in unrealized gains and losses, reported in equity, for financial instruments required to be reported at fair value under GAAP. For the years ended December 31, 2021, 2020 2019, not not Revenue Recognition Rental revenue for commercial leases is recognized on a straight-line basis over the terms of the respective leases. Deferred rents receivable represents the amount by which straight-line rental revenue exceeds rents currently billed in accordance with lease agreements. Rental income attributable to residential leases and parking is recognized as earned, which is not one Reimbursements for operating expenses due from tenants pursuant to their lease agreements are recognized as revenue in the period the applicable expenses are incurred. These costs generally include real estate taxes, utilities, insurance, common area maintenance costs and other recoverable costs and are recorded as part of commercial rental income in the consolidated statements of operations. Stock-based Compensation The Company accounts for stock-based compensation pursuant to Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718, The following is a summary of awards granted to the Company’s employees and non-employee directors during the years ended December 31, 2021, 2020 2019. Unvested LTIP Units LTIP Units Weighted Grant-Date Fair Value Unvested at December 31, 2018 182,776 $ 10.89 Granted 158,534 $ 13.33 Vested (124,772 ) $ 11.82 Forfeited — — Unvested at December 31, 2019 216,538 $ 12.15 Granted 529,304 $ 5.25 Vested (79,766 ) $ 7.50 Forfeited — — Unvested at December 31, 2020 666,076 $ 7.22 Granted 325,192 $ 8.34 Vested (146,861 ) $ 6.41 Forfeited (33,389 ) $ 7.17 Unvested at December 31, 2021 811,018 $ 7.82 As of December 31, 2021 2020, December 31, 2021, one December 31, 2021 2020 In March 2021, April 2020, June 2020, In May 2021, Income Taxes The Company elected to be taxed and to operate in a manner that will allow it to qualify as a REIT under the Code. To qualify as a REIT, the Company is required to distribute dividends equal to at least 90% of the REIT taxable income (computed without regard to the dividends paid deduction and net capital gains) to its stockholders, and meet the various other requirements imposed by the Code relating to matters such as operating results, asset holdings, distribution levels and diversity of stock ownership. Provided the Company qualifies for taxation as a REIT, it is generally not may not four no On March 27, 2020, 19 2019 2020 not In accordance with FASB ASC Topic 740, not three The Company has determined that the cash distributed to its stockholders is characterized as follows for Federal income tax purposes: Year Ended December 31, 2021 2020 2019 Ordinary income 50 % — — Capital gain — — — Return of capital 50 % 100 % 100 % Total 100 % 100 % 100 % Fair Value Measurements Refer to Note 9, Derivative Financial Instruments FASB derivative and hedging guidance establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. As required by FASB guidance, the Company records all derivatives on the consolidated balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative and the resulting designation. Derivatives used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives used to hedge the exposure to variability in expected future cash flows, or other types of forecast transactions, are considered cash flow hedges. For derivatives designated as fair value hedges, changes in the fair value of the derivative and the hedged item related to the hedged risk are recognized in earnings. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is initially reported in other comprehensive income (loss) (outside of earnings) and subsequently reclassified to earnings when the hedged transaction affects earnings, and the ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. The Company assesses the effectiveness of each hedging relationship by comparing the changes in the fair value or cash flows of the derivative hedging instrument with the changes in the fair value or cash flows of the designated hedged item or transaction. For derivatives not December 31, 2021, no Loss Per Share Basic and diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average common shares outstanding. As of December 31, 2021, 2020 2019, two not December 31, 2021, 2020 2019. The effect of the conversion of the 26,317 Class B LLC units outstanding is not The following table sets forth the computation of basic and diluted net loss per share for the periods indicated: Year Ended December 31, 2021 2020 2019 (in thousands, except per share amounts) Numerator Net loss attributable to common stockholders $ (7,587 ) $ (4,906 ) $ (1,665 ) Less: income attributable to participating securities (653 ) (478 ) (319 ) Subtotal (8,240 ) (5,384 ) (1,984 ) Denominator Weighted-average common shares outstanding 16,063 17,629 17,814 Basic and diluted net loss per share attributable to common stockholders $ (0.51 ) $ (0.31 ) $ (0.11 ) Recently Issued Pronouncements In April 2020, 19 not 19 December 31, 2021; not may In March 2020, 2020 04, 848 2020 04 2020 04 March 12, 2020, may December 31, 2022. 2020 04 In January 2021, 2021 01, 848 2021 01 848 2020 04 2021 01 848 2021 01 848 may not not 2021 01 In March 2019, 2019 01, 842 three 842 1 2 3 not 2019 01 In December 2018, 2018 20, 842 2016 02 not not not third not 2018 20 February 2016, 2016 02, . 2016 02 two July 2018, 2018 10, 842, 2016 02, 842 July 2018, 2018 11, 842 December 15, 2021, January 1, 2022. 2016 02 not not

Note 4 - Acquisitions

Note 4 - Acquisitions	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Business Combination Disclosure [Text Block]	4. On November 8, 2019, 1010 $129; On December 22, 2021 $148; On February 14, 2022

Note 5 - Deferred Costs and Int

Note 5 - Deferred Costs and Intangible Assets	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Deferred Costs and Intangible Assets Disclosure [Text Block]	5. Deferred costs and intangible assets consist of the following: December 31, 2021 December 31, 2020 Deferred costs $ 348 $ 348 Lease origination costs 1,191 1,078 In-place leases 428 428 Real estate tax abatements 9,142 9,142 Total deferred costs and intangible assets 11,109 10,996 Less accumulated amortization (3,983 ) (3,276 ) Total deferred costs and intangible assets, net $ 7,126 $ 7,720 Amortization of deferred costs, lease origination costs and in-place lease intangible assets was $226, $482 and $693 for the years ended December 31, 2021, 2020 2019, December 31, 2021 2020, December 31, 2020, December 31, 2021, 2020 2019, December 31, 2021, 2020 2019, December 31, 2021 2020, Deferred costs and intangible assets as of December 31, 2021, 2022 $ 682 2023 573 2024 558 2025 547 2026 531 Thereafter 4,235 Total $ 7,126

Note 6 - Below-market Leases, N

Note 6 - Below-market Leases, Net	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Below Market Lease Intangibles Disclosure [Text Block]	6. The Company’s below-market lease intangibles liabilities are as follows: December 31, 2021 December 31, 2020 Below-market leases $ 297 $ 785 Less accumulated amortization (244 ) (628 ) Below-market leases, net $ 53 $ 157 Rental income included amortization of below-market leases of $104, $420 and $1,298 for the years ended December 31, 2021, 2020 2019, December 31, 2021 2020, December 31, 2020, Below-market leases as of December 31, 2021, 2022 $ 35 2023 18 Total $ 53

Note 7 - Notes Payable

Note 7 - Notes Payable	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Long-term Debt [Text Block]	7. The mortgages, loans and mezzanine notes payable collateralized by the properties, or the Company’s interest in the entities that own the properties and assignment of leases, are as follows: Property Maturity Interest Rate December 31, 2021 December 31, 2020 Flatbush Gardens, Brooklyn, NY (a) 6/1/2032 3.125% $ 329,000 $ 329,000 250 Livingston Street, Brooklyn, NY (b) 6/6/2029 3.63% 125,000 125,000 141 Livingston Street, Brooklyn, NY (c) 6/1/2028 3.875% — 74,241 141 Livingston Street, Brooklyn, NY (c) 3/6/2031 3.21% 100,000 — Tribeca House, Manhattan, NY (d) 3/6/2028 4.506% 360,000 360,000 Aspen, Manhattan, NY (e) 7/1/2028 3.68% 64,047 65,485 Clover House, Brooklyn, NY (f) 12/1/2029 3.53% 82,000 82,000 10 West 65 th 11/1/2027 3.375% 32,921 33,619 1010 Pacific Street, Brooklyn, NY (h) 6/24/2021 LIBOR + 3.60% — 20,375 1010 Pacific Street, Brooklyn, NY (h) 9/1/2024 LIBOR + 3.60% 21,084 — Dean Street, Brooklyn, NY (i) 12/22/2022 Prime + 1.60% 30,000 Total debt $ 1,144,052 $ 1,089,720 Unamortized debt issuance costs (12,898 ) (10,262 ) Total debt, net of unamortized debt issuance costs $ 1,131,154 $ 1,079,458 (a) The $329,000 mortgage note agreement with New York Community Bank (“NYCB”), entered into on May 8, 2020, June 1, 2032, May 2027 May 2027, not (b) The $125,000 mortgage note agreement with Citi Real Estate Funding Inc., entered into on May 31, 2019, June 6, 2029, not three (c) On February 18, 2021, ten first March 6, 2031, not three (d) The $360,000 loan with Deutsche Bank, entered into on February 21, 2018, March 6, 2028, not December 6, 2027. (e) The $70,000 mortgage note agreement with Capital One Multifamily Finance LLC matures on July 1, 2028, July 2017, 30 (f) The $82,000 mortgage note agreement with MetLife Investment Management, entered into on November 8, 2019, December 1, 2029, January 1, 2024, September 2, 2029. (g) On October 27, 2017, 10 65 th November 1, 2027, October 2022 November 2019, 30 not (h) On December 24, 2019, 1010 June 24, 2021, one June 30, 2021). June 2021 August 30, 2021. On August 10, 2021, 1010 30 September 1, 2024 may September 1, 2026. may five (i) On December 22, 2021, December 22, 2022, two six December 31, 2021). The Company has provided a limited guaranty for the mortgage notes at several of its properties. The Company’s loan agreements contain customary representations, covenants and events of default. Certain loan agreements require the Company to comply with affirmative and negative covenants, including the maintenance of debt service coverage and debt yield ratios. In the event that they are not may not The following table summarizes principal payment requirements under the terms of the mortgage notes as of December 31, 2021: 2022 $ 32,215 2023 2,296 2024 23,459 2025 2,468 2026 2,559 Thereafter 1,081,055 Total $ 1,144,052 The Company recognized a loss on extinguishment of debt of $3,034 during the year ended December 31, 2021, 141 February 2021; December 31, 2020, May 2020; December 31, 2019, 250 May 2019 November 2019;

Note 8 - Rental Income Under Op

Note 8 - Rental Income Under Operating Leases	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Lessor, Operating Leases [Text Block]	8. The Company’s commercial properties are leased to commercial tenants under operating leases with fixed terms of varying lengths. As of December 31, 2021, five 2022 $ 30,369 2023 29,066 2024 28,813 2025 23,139 2026 2,820 Thereafter 10,285 Total $ 124,492 The Company has commercial leases with the City of New York that comprised approximately 25%, 21% and 19% of total revenues for the years ended December 31, 2021, 2020 2019,

Note 9 - Fair Value of Financia

Note 9 - Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	9. GAAP requires the measurement of certain financial instruments at fair value on a recurring basis. In addition, GAAP requires the measure of other financial instruments and balances at fair value on a non-recurring basis (e.g., carrying ‐‐‐value of impaired real estate and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three one three • Level 1: • Level 2: not • Level 3: no When available, the Company utilizes quoted market prices from an independent third 1 2. not not third may third not Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not The financial assets and liabilities in the consolidated balance sheets include cash and cash equivalents, restricted cash, receivables, accounts payable and accrued liabilities, security deposits and notes payable. The carrying amount of cash and cash equivalents, restricted cash, receivables, accounts payable and accrued liabilities, and security deposits reported in the consolidated balance sheets approximates fair value due to the short-term nature of these instruments. The fair value of notes payable, which are classified as Level 2, The carrying amount and estimated fair value of the notes payable are as follows: December 31, 2021 December 31, 2020 Carrying amount (excluding unamortized debt issuance costs) $ 1,144,052 $ 1,089,720 Estimated fair value $ 1,199,409 $ 1,204,201 The above disclosures regarding fair value of financial instruments are based on pertinent information available as of December 31, 2021, 2020 2019, not not may

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	10. Legal On July 3, 2017, 41 50 53 Kuzmich 421 July 18, 2017, January 18, 2018, April 24, 2018. June 25, 2019, 421 not may 41 may July 25, 2019, September 12, 2019. October 24, 2019, January 13, 2020, August 13, 2019, October 23, 2019. October 17, 2019, August 13 January 7, 2020, May 2020 March 16, 2020, September 2020 July 13, 2020, October 2020 October 8, 2020. October 29, 2020, 1 four 2016 2 four not May 20, 2021, October 27, December 14, 2021, January 19, 2022. November 17, 2021 not not December 3, 2021 March 4, 2022 On November 18, 2019, Kuzmich second 26 Crowe et al v 50 No. 161227/19 Kuzmich Crowe June 30, 2020; July 16, 2020, seven no August 5, 2020, On March 9, 2021, Kuzmich Crowe third Horn v 50 No. 152415/21 Kuzmich Crowe May 21, 2021. The Company has estimated that the three On March 4, 2022, In addition to the above, the Company is subject to certain legal proceedings and claims arising in connection with its business. Management believes, based in part upon consultation with legal counsel, that the ultimate resolution of all such claims will not The Office of the Attorney General of the State of New York (“OAG”) has commenced an investigation concerning the conduct of screening of tenant applicants in the building portfolio in which Clipper Equity and its principals have a management and/or ownership interest. Clipper Equity is cooperating with the investigation and in the process of finalizing an Assurance of Discontinuance with the OAG to resolve the investigation on behalf of itself and its affiliates, the terms of which have no Commitments The Company is obligated to provide parking availability through August 2025 250 On December 22, 2021, December 31, 2021. Contingencies The COVID- 19 19 2020 19 December 31, 2021, 840, 840. may may 19 19 The Company’s properties have remained open and operational throughout the pandemic. The Company is taking the necessary steps to keep employees and tenants safe in compliance with state and local orders, and continues to provide typical services to its residents. Concentrations The Company’s properties are located in the Boroughs of Manhattan and Brooklyn in New York City, which exposes the Company to greater economic risks than if it owned a more geographically dispersed portfolio. The breakdown between commercial and residential revenue is as follows: Commercial Residential Total Year ended December 31, 2021 30 % 70 % 100 % Year ended December 31, 2020 26 % 74 % 100 % Year ended December 31, 2019 30 % 70 % 100 %

Note 11 - Related-party Transac

Note 11 - Related-party Transactions	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	11. The Company recorded office and overhead expenses pertaining to a related company in general and administrative expense of $267, $266 and $148 for the years ended December 31, 2021, 2020 2019, December 31, 2021, 2020 2019, The Company paid legal and advisory fees to firms in which two December 31, 2021, 2020 2019, In November 2020,

Note 12 - Segment Reporting

Note 12 - Segment Reporting	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	12. The Company has classified its reporting segments into commercial and residential rental properties. The commercial reporting segment includes the 141 250 10 65 th 1010 250 The Company’s income from operations by segment for the years ended December 31, 2021, 2020 2019, Year ended December 31, 2021 Commercial Residential Total Rental income $ 36,958 $ 85,771 $ 122,729 Total revenues 36,958 85,771 122,729 Property operating expenses 4,431 24,566 28,997 Real estate taxes and insurance 7,807 22,642 30,449 General and administrative 1,990 8,580 10,570 Transaction pursuit costs 60 — 60 Depreciation and amortization 5,133 20,629 25,762 Total operating expenses 19,421 76,417 95,838 Litigation settlement and other — (2,730 ) (2,730 ) Income from operations $ 17,537 $ 6,624 $ 24,161 Year ended December 31, 2020 Commercial Residential Total Rental income $ 32,307 $ 90,543 $ 122,850 Total revenues 32,307 90,543 122,850 Property operating expenses 4,209 25,693 29,902 Real estate taxes and insurance 6,704 21,582 28,286 General and administrative 1,365 8,363 9,728 Depreciation and amortization 4,463 19,167 23,630 Total operating expenses 16,741 74,805 91,546 Gain on termination of lease 838 — 838 Income from operations $ 16,404 $ 15,738 $ 32,142 Year ended December 31, 2019 Commercial Residential Total Rental income $ 28,779 $ 87,386 $ 116,165 Total revenues 28,779 87,386 116,165 Property operating expenses 4,354 24,533 28,887 Real estate taxes and insurance 5,465 19,501 24,966 General and administrative 1,355 7,812 9,167 Depreciation and amortization 3,905 15,744 19,649 Total operating expenses 15,079 67,590 82,669 Income from operations $ 13,700 $ 19,796 $ 33,496 The Company’s total assets by segment are as follows, as of: Commercial Residential Total December 31, 2021 $ 310,423 $ 923,234 $ 1,233,657 December 31, 2020 282,789 925,077 1,207,866 December 31, 2019 285,103 881,104 1,166,207 The Company’s interest expense by segment for the years ended December 31, 2021, 2020 2019, Commercial Residential Total Year ended December 31, 2021 $ 10,238 $ 31,046 $ 41,284 Year ended December 31, 2020 8,167 32,061 40,228 Year ended December 31, 2019 7,241 27,946 35,187 The Company’s capital expenditures by segment for the years ended December 31, 2021, 2020 2019, Commercial Residential Total Year ended December 31, 2021 $ 7,307 $ 73,492 $ 80,799 Year ended December 31, 2020 8,915 24,254 33,169 Year ended December 31, 2019 6,038 36,585 42,623

Note 13 - Multiemployer Union A

Note 13 - Multiemployer Union Agreement and Pension Plan	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Retirement Benefits [Text Block]	13. Certain of the Company’s employees are covered by union-sponsored, collectively bargained, multiemployer defined benefit pension and profit-sharing plans, and health insurance, legal and training plans. Contributions to the plans are determined in accordance with the provisions of the negotiated labor contract. The Local 94 94” December 31, 2022. 32BJ 32BJ” April 20, 2022. 32BJ December 31, 2023. Contributions to the unions are not one may may may no The information for the union’s multiemployer pension plans are as follows: Legal name Building Service 32BJ Pension Fund Employer identification number 13 1879376 Plan number 001 Type of plan Defined benefit pension plan Plan year-end date June 30 Certified Zone Status for 2021, 2020 and 2019* Red Funding improvement plan/rehabilitation plan* Implemented Surcharges paid to plan None Pension contribution made for 2021, 2020 and 2019, respectively $382, $362 and $325 Minimum weekly required pension contribution per employee for 2021, 2020 and 2019, respectively (in dollars) $117.63, $118.09 and $114.11 Legal name Central Pension Fund of the International Union of Operating Engineers and Participating Employers Employer identification number 36 6052390 Plan number 001 Type of plan Defined benefit pension plan Plan year-end date January 31 Certified Zone Status for 2021, 2020 and 2019* Green Funding improvement plan/rehabilitation plan* N/A Surcharges paid to plan N/A Pension contribution made for 2021, 2020 and 2019, respectively $38, $39 and $39 Minimum weekly required pension contribution per employee for 2021, 2020 and 2019, respectively (in dollars) $183.56, $187.88 and $187.43 * Certified pension zone status (as defined by the Pension Protection Act) represents the level at which the pension plan is funded. Plans in the red zone are less than 65% 80% 80% may The information provided above is from the respective pension plan’s most current annual report, which for Local 32BJ June 30, 2021 94 January 31, 2021. 32BJ 5%

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Text Block]	Clipper Realty Inc. and Predecessor Schedule III Real Estate and Accumulated Depreciation (In thousands Encumbrances at December 31, 2021 Initial Costs Gross Amounts at Which Carried at December 31, 2021 Property Location Description Encum-brances Land Building and Improv-ements Real Estate Under Develop. Cost Capitalized Subsequent to Acquisition Land Building and Improv-ements Real Estate Under Develop. Total Accumu-lated Deprecia-tion Date Acquired Tribeca House Manhattan, NY Residential/ Commercial $ 360,000 $ 273,103 $ 283,137 $ — $ 30,780 $ 273,103 $ 313,917 — $ 587,020 $ 61,663 Dec-14 Aspen Manhattan, NY Residential/ Commercial 64,047 49,230 43,080 — 2,665 49,230 45,745 — 94,975 6,427 June-16 Flatbush Gardens Brooklyn, NY Residential 329,000 89,965 49,607 — 66,194 90,051 115,715 — 205,766 54,418 Oct-05 Clover House Brooklyn, NY Residential 82,000 43,516 44,100 — 58,326 43,516 102,426 — 145,942 5,366 May-17 10 West 65 th Manhattan, NY Residential 32,921 63,677 15,337 — 6,250 63,677 21,587 — 85,264 3,827 Oct-17 1010 Pacific St. Brooklyn, NY Residential 21,084 — — 31,129 25,449 — — 56,578 56,578 — Nov-19 Dean Street Brooklyn, NY Residential/ Commercial 30,000 — — 40,548 175 — — 40,723 40,723 — Dec-21 250 Livingston St. Brooklyn, NY Commercial/ Residential 125,000 10,452 20,204 — 22,628 10,452 42,832 — 53,284 16,796 May-02 141 Livingston St. Brooklyn, NY Commercial 100,000 10,830 12,079 — 11,291 10,830 23,370 — 34,200 9,505 May-02 $ 1,144,052 $ 540,773 $ 467,544 $ 71,677 $ 223,758 $ 540,859 $ 665,592 $ 97,301 $ 1,303,752 $ 158,002 ( 1 At December 31, 2021, ( 2 The following summarizes activity for real estate and accumulated depreciation, for the years ended December 31, 2021, 2020 2019: 2021 2020 2019 Investment in real estate: Balance at beginning of period $ 1,222,977 $ 1,189,951 $ 1,116,199 Acquisition of real estate 40,548 — 31,129 Additions during period 40,251 33,169 42,623 Write-off of assets (24 ) (143 ) — Balance at end of period $ 1,303,752 $ 1,222,977 $ 1,189,951 Accumulated depreciation: Balance at beginning of period $ 132,479 $ 109,418 $ 90,462 Depreciation expense 25,536 23,148 18,956 Write-off of assets (13 ) (87 ) — Balance at end of period $ 158,002 $ 132,479 $ 109,418

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Segment Reporting, Policy [Policy Text Block]	Segments At December 31, 2021, two may
Consolidation, Policy [Policy Text Block]	Basis of Consolidation The accompanying consolidated financial statements of the Company are prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). The effect of all intercompany balances has been eliminated. The consolidated financial statements include the accounts of all entities in which the Company has a controlling interest. The ownership interests of other investors in these entities are recorded as non-controlling interests.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from these estimates.
Real Estate, Policy [Policy Text Block]	Investment in Real Estate Real estate assets held for investment are carried at historical cost and consist of land, buildings and improvements, furniture, fixtures and equipment. Expenditures for ordinary repair and maintenance costs are charged to expense as incurred. Expenditures for improvements, renovations, and replacements of real estate assets are capitalized and depreciated over their estimated useful lives if the expenditures qualify as betterments or the life of the related asset will be substantially extended beyond the original life expectancy. In accordance with ASU 2018 01, not • Substantially all of the fair value of the gross assets acquired is concentrated in either a single identifiable asset or a group of similar identifiable assets; or • The integrated set of assets and activities is lacking, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs (i.e., revenue generated before and after the transaction). An acquired process is considered substantive if: • The process includes an organized workforce (or includes an acquired contract that provides access to an organized workforce) that is skilled, knowledgeable and experienced in performing the process; • The process cannot be replaced without significant cost, effort or delay; or • The process is considered unique or scarce. Generally, the Company expects that acquisitions of real estate or in-substance real estate will not not Upon acquisition of real estate, the Company assesses the fair values of acquired tangible and intangible assets including land, buildings, tenant improvements, above-market and below-market leases, in-place leases and any other identified intangible assets and assumed liabilities. The Company allocates the purchase price to the assets acquired and liabilities assumed in an asset acquisition based on their relative fair values. In estimating fair value of tangible and intangible assets acquired, the Company assesses and considers fair value based on estimated cash flow projections that utilize appropriate discount and capitalization rates, estimates of replacement costs, net of depreciation, and available market information. The fair value of the tangible assets of an acquired property considers the value of the property as if it were vacant. The Company records acquired above-market and below-market lease values initially based on the present value, using a discount rate which reflects the risks associated with the leases acquired based on the difference between (i) the contractual amounts to be paid pursuant to each in-place lease and (ii) management’s estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining term of the lease for above-market leases and the initial term plus the term of any below-market fixed renewal options for the below-market leases. Other intangible assets acquired include amounts for in-place lease values and tenant relationship values (if any) that are based on management’s evaluation of the specific characteristics of each tenant’s lease and the Company’s overall relationship with the respective tenant. Factors to be considered by management in its analysis of in-place lease values include an estimate of carrying costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods, depending on local market conditions. In estimating costs to execute similar leases, management considers leasing commissions, legal and other related expenses. The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not not December 31, 2021. For long-lived assets to be disposed of, impairment losses are recognized when the fair value of the assets less estimated cost to sell is less than the carrying value of the assets. Properties classified as real estate held-for-sale generally represent properties that are actively marketed or contracted for sale with closing expected to occur within the next twelve not If a tenant vacates its space prior to the contractual termination of the lease and no Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows: Building and improvements (in years) 10 – 44 Tenant improvements Shorter of useful life or lease term Furniture, fixtures and equipment (in years) 3 – 15 The capitalized above-market lease values are amortized as a reduction to base rental revenue over the remaining terms of the respective leases, and the capitalized below-market lease values are amortized as an increase to base rental revenue over the remaining initial terms plus the terms of any below-market fixed rate renewal options of the respective leases. The value of in-place leases is amortized to expense over the remaining initial terms of the respective leases.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents Cash and cash equivalents are defined as cash on hand and in banks, plus all short-term investments with a maturity of three may No
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash Restricted cash generally consists of escrows for future real estate taxes and insurance expenditures, repairs, capital improvements, loan reserves and security deposits.
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]	Tenant and Other Receivables and Allowance for Doubtful Accounts Tenant and other receivables are comprised of amounts due for monthly rents and other charges less allowance for doubtful accounts. The Company periodically performs a detailed review of amounts due from tenants to determine if accounts receivable balances are impaired based on factors affecting the collectability of those balances. If a tenant fails to make contractual payments beyond any allowance, the Company may
Deferred Charges, Policy [Policy Text Block]	Deferred Costs Deferred lease costs consist of fees incurred to initiate and renew operating leases. Lease costs are being amortized using the straight-line method over the terms of the respective leases. Deferred financing costs represent commitment fees, legal and other third not
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Income (Loss) Comprehensive income (loss) is comprised of net income (loss) adjusted for changes in unrealized gains and losses, reported in equity, for financial instruments required to be reported at fair value under GAAP. For the years ended December 31, 2021, 2020 2019, not not
Revenue [Policy Text Block]	Revenue Recognition Rental revenue for commercial leases is recognized on a straight-line basis over the terms of the respective leases. Deferred rents receivable represents the amount by which straight-line rental revenue exceeds rents currently billed in accordance with lease agreements. Rental income attributable to residential leases and parking is recognized as earned, which is not one Reimbursements for operating expenses due from tenants pursuant to their lease agreements are recognized as revenue in the period the applicable expenses are incurred. These costs generally include real estate taxes, utilities, insurance, common area maintenance costs and other recoverable costs and are recorded as part of commercial rental income in the consolidated statements of operations.
Share-based Payment Arrangement [Policy Text Block]	Stock-based Compensation The Company accounts for stock-based compensation pursuant to Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718, The following is a summary of awards granted to the Company’s employees and non-employee directors during the years ended December 31, 2021, 2020 2019. Unvested LTIP Units LTIP Units Weighted Grant-Date Fair Value Unvested at December 31, 2018 182,776 $ 10.89 Granted 158,534 $ 13.33 Vested (124,772 ) $ 11.82 Forfeited — — Unvested at December 31, 2019 216,538 $ 12.15 Granted 529,304 $ 5.25 Vested (79,766 ) $ 7.50 Forfeited — — Unvested at December 31, 2020 666,076 $ 7.22 Granted 325,192 $ 8.34 Vested (146,861 ) $ 6.41 Forfeited (33,389 ) $ 7.17 Unvested at December 31, 2021 811,018 $ 7.82 As of December 31, 2021 2020, December 31, 2021, one December 31, 2021 2020 In March 2021, April 2020, June 2020, In May 2021,
Income Tax, Policy [Policy Text Block]	Income Taxes The Company elected to be taxed and to operate in a manner that will allow it to qualify as a REIT under the Code. To qualify as a REIT, the Company is required to distribute dividends equal to at least 90% of the REIT taxable income (computed without regard to the dividends paid deduction and net capital gains) to its stockholders, and meet the various other requirements imposed by the Code relating to matters such as operating results, asset holdings, distribution levels and diversity of stock ownership. Provided the Company qualifies for taxation as a REIT, it is generally not may not four no On March 27, 2020, 19 2019 2020 not In accordance with FASB ASC Topic 740, not three The Company has determined that the cash distributed to its stockholders is characterized as follows for Federal income tax purposes: Year Ended December 31, 2021 2020 2019 Ordinary income 50 % — — Capital gain — — — Return of capital 50 % 100 % 100 % Total 100 % 100 % 100 %
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value Measurements Refer to Note 9,
Derivatives, Policy [Policy Text Block]	Derivative Financial Instruments FASB derivative and hedging guidance establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. As required by FASB guidance, the Company records all derivatives on the consolidated balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative and the resulting designation. Derivatives used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives used to hedge the exposure to variability in expected future cash flows, or other types of forecast transactions, are considered cash flow hedges. For derivatives designated as fair value hedges, changes in the fair value of the derivative and the hedged item related to the hedged risk are recognized in earnings. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is initially reported in other comprehensive income (loss) (outside of earnings) and subsequently reclassified to earnings when the hedged transaction affects earnings, and the ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. The Company assesses the effectiveness of each hedging relationship by comparing the changes in the fair value or cash flows of the derivative hedging instrument with the changes in the fair value or cash flows of the designated hedged item or transaction. For derivatives not December 31, 2021, no
Earnings Per Share, Policy [Policy Text Block]	Loss Per Share Basic and diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average common shares outstanding. As of December 31, 2021, 2020 2019, two not December 31, 2021, 2020 2019. The effect of the conversion of the 26,317 Class B LLC units outstanding is not The following table sets forth the computation of basic and diluted net loss per share for the periods indicated: Year Ended December 31, 2021 2020 2019 (in thousands, except per share amounts) Numerator Net loss attributable to common stockholders $ (7,587 ) $ (4,906 ) $ (1,665 ) Less: income attributable to participating securities (653 ) (478 ) (319 ) Subtotal (8,240 ) (5,384 ) (1,984 ) Denominator Weighted-average common shares outstanding 16,063 17,629 17,814 Basic and diluted net loss per share attributable to common stockholders $ (0.51 ) $ (0.31 ) $ (0.11 )
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Pronouncements In April 2020, 19 not 19 December 31, 2021; not may In March 2020, 2020 04, 848 2020 04 2020 04 March 12, 2020, may December 31, 2022. 2020 04 In January 2021, 2021 01, 848 2021 01 848 2020 04 2021 01 848 2021 01 848 may not not 2021 01 In March 2019, 2019 01, 842 three 842 1 2 3 not 2019 01 In December 2018, 2018 20, 842 2016 02 not not not third not 2018 20 February 2016, 2016 02, . 2016 02 two July 2018, 2018 10, 842, 2016 02, 842 July 2018, 2018 11, 842 December 15, 2021, January 1, 2022. 2016 02 not not

Note 3 - Significant Accounti_2

Note 3 - Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Property, Plant and Equipment, Useful Life [Table Text Block]	Building and improvements (in years) 10 – 44 Tenant improvements Shorter of useful life or lease term Furniture, fixtures and equipment (in years) 3 – 15
Schedule of Nonvested Share Activity [Table Text Block]	Unvested LTIP Units LTIP Units Weighted Grant-Date Fair Value Unvested at December 31, 2018 182,776 $ 10.89 Granted 158,534 $ 13.33 Vested (124,772 ) $ 11.82 Forfeited — — Unvested at December 31, 2019 216,538 $ 12.15 Granted 529,304 $ 5.25 Vested (79,766 ) $ 7.50 Forfeited — — Unvested at December 31, 2020 666,076 $ 7.22 Granted 325,192 $ 8.34 Vested (146,861 ) $ 6.41 Forfeited (33,389 ) $ 7.17 Unvested at December 31, 2021 811,018 $ 7.82
Cash Distribution for Income Tax Purpose [Table Text Block]	Year Ended December 31, 2021 2020 2019 Ordinary income 50 % — — Capital gain — — — Return of capital 50 % 100 % 100 % Total 100 % 100 % 100 %
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended December 31, 2021 2020 2019 (in thousands, except per share amounts) Numerator Net loss attributable to common stockholders $ (7,587 ) $ (4,906 ) $ (1,665 ) Less: income attributable to participating securities (653 ) (478 ) (319 ) Subtotal (8,240 ) (5,384 ) (1,984 ) Denominator Weighted-average common shares outstanding 16,063 17,629 17,814 Basic and diluted net loss per share attributable to common stockholders $ (0.51 ) $ (0.31 ) $ (0.11 )

Note 5 - Deferred Costs and I_2

Note 5 - Deferred Costs and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Deferred Costs and Intangible Assets [Table Text Block]	December 31, 2021 December 31, 2020 Deferred costs $ 348 $ 348 Lease origination costs 1,191 1,078 In-place leases 428 428 Real estate tax abatements 9,142 9,142 Total deferred costs and intangible assets 11,109 10,996 Less accumulated amortization (3,983 ) (3,276 ) Total deferred costs and intangible assets, net $ 7,126 $ 7,720
Schedule of Deferred Costs and Intangible Assets, Future Amortization Expense [Table Text Block]	2022 $ 682 2023 573 2024 558 2025 547 2026 531 Thereafter 4,235 Total $ 7,126

Note 6 - Below-market Leases,_2

Note 6 - Below-market Leases, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Below-Market Lease Intangibles Liabilities [Table Text Block]	December 31, 2021 December 31, 2020 Below-market leases $ 297 $ 785 Less accumulated amortization (244 ) (628 ) Below-market leases, net $ 53 $ 157
Below Market Lease, Future Amortization Income [Table Text Block]	2022 $ 35 2023 18 Total $ 53

Note 7 - Notes Payable (Tables)

Note 7 - Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	Property Maturity Interest Rate December 31, 2021 December 31, 2020 Flatbush Gardens, Brooklyn, NY (a) 6/1/2032 3.125% $ 329,000 $ 329,000 250 Livingston Street, Brooklyn, NY (b) 6/6/2029 3.63% 125,000 125,000 141 Livingston Street, Brooklyn, NY (c) 6/1/2028 3.875% — 74,241 141 Livingston Street, Brooklyn, NY (c) 3/6/2031 3.21% 100,000 — Tribeca House, Manhattan, NY (d) 3/6/2028 4.506% 360,000 360,000 Aspen, Manhattan, NY (e) 7/1/2028 3.68% 64,047 65,485 Clover House, Brooklyn, NY (f) 12/1/2029 3.53% 82,000 82,000 10 West 65 th 11/1/2027 3.375% 32,921 33,619 1010 Pacific Street, Brooklyn, NY (h) 6/24/2021 LIBOR + 3.60% — 20,375 1010 Pacific Street, Brooklyn, NY (h) 9/1/2024 LIBOR + 3.60% 21,084 — Dean Street, Brooklyn, NY (i) 12/22/2022 Prime + 1.60% 30,000 Total debt $ 1,144,052 $ 1,089,720 Unamortized debt issuance costs (12,898 ) (10,262 ) Total debt, net of unamortized debt issuance costs $ 1,131,154 $ 1,079,458
Schedule of Maturities of Long-term Debt [Table Text Block]	2022 $ 32,215 2023 2,296 2024 23,459 2025 2,468 2026 2,559 Thereafter 1,081,055 Total $ 1,144,052

Note 8 - Rental Income Under _2

Note 8 - Rental Income Under Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity [Table Text Block]	2022 $ 30,369 2023 29,066 2024 28,813 2025 23,139 2026 2,820 Thereafter 10,285 Total $ 124,492

Note 9 - Fair Value of Financ_2

Note 9 - Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Fair Value, by Balance Sheet Grouping [Table Text Block]	December 31, 2021 December 31, 2020 Carrying amount (excluding unamortized debt issuance costs) $ 1,144,052 $ 1,089,720 Estimated fair value $ 1,199,409 $ 1,204,201

Note 10 - Commitments and Con_2

Note 10 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Commercial Residential Total Year ended December 31, 2021 30 % 70 % 100 % Year ended December 31, 2020 26 % 74 % 100 % Year ended December 31, 2019 30 % 70 % 100 %

Note 12 - Segment Reporting (Ta

Note 12 - Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Year ended December 31, 2021 Commercial Residential Total Rental income $ 36,958 $ 85,771 $ 122,729 Total revenues 36,958 85,771 122,729 Property operating expenses 4,431 24,566 28,997 Real estate taxes and insurance 7,807 22,642 30,449 General and administrative 1,990 8,580 10,570 Transaction pursuit costs 60 — 60 Depreciation and amortization 5,133 20,629 25,762 Total operating expenses 19,421 76,417 95,838 Litigation settlement and other — (2,730 ) (2,730 ) Income from operations $ 17,537 $ 6,624 $ 24,161 Year ended December 31, 2020 Commercial Residential Total Rental income $ 32,307 $ 90,543 $ 122,850 Total revenues 32,307 90,543 122,850 Property operating expenses 4,209 25,693 29,902 Real estate taxes and insurance 6,704 21,582 28,286 General and administrative 1,365 8,363 9,728 Depreciation and amortization 4,463 19,167 23,630 Total operating expenses 16,741 74,805 91,546 Gain on termination of lease 838 — 838 Income from operations $ 16,404 $ 15,738 $ 32,142 Year ended December 31, 2019 Commercial Residential Total Rental income $ 28,779 $ 87,386 $ 116,165 Total revenues 28,779 87,386 116,165 Property operating expenses 4,354 24,533 28,887 Real estate taxes and insurance 5,465 19,501 24,966 General and administrative 1,355 7,812 9,167 Depreciation and amortization 3,905 15,744 19,649 Total operating expenses 15,079 67,590 82,669 Income from operations $ 13,700 $ 19,796 $ 33,496 Commercial Residential Total December 31, 2021 $ 310,423 $ 923,234 $ 1,233,657 December 31, 2020 282,789 925,077 1,207,866 December 31, 2019 285,103 881,104 1,166,207 Commercial Residential Total Year ended December 31, 2021 $ 10,238 $ 31,046 $ 41,284 Year ended December 31, 2020 8,167 32,061 40,228 Year ended December 31, 2019 7,241 27,946 35,187 Commercial Residential Total Year ended December 31, 2021 $ 7,307 $ 73,492 $ 80,799 Year ended December 31, 2020 8,915 24,254 33,169 Year ended December 31, 2019 6,038 36,585 42,623

Note 13 - Multiemployer Union_2

Note 13 - Multiemployer Union Agreement and Pension Plan (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Multiemployer Plan [Table Text Block]	Legal name Building Service 32BJ Pension Fund Employer identification number 13 1879376 Plan number 001 Type of plan Defined benefit pension plan Plan year-end date June 30 Certified Zone Status for 2021, 2020 and 2019* Red Funding improvement plan/rehabilitation plan* Implemented Surcharges paid to plan None Pension contribution made for 2021, 2020 and 2019, respectively $382, $362 and $325 Minimum weekly required pension contribution per employee for 2021, 2020 and 2019, respectively (in dollars) $117.63, $118.09 and $114.11 Legal name Central Pension Fund of the International Union of Operating Engineers and Participating Employers Employer identification number 36 6052390 Plan number 001 Type of plan Defined benefit pension plan Plan year-end date January 31 Certified Zone Status for 2021, 2020 and 2019* Green Funding improvement plan/rehabilitation plan* N/A Surcharges paid to plan N/A Pension contribution made for 2021, 2020 and 2019, respectively $38, $39 and $39 Minimum weekly required pension contribution per employee for 2021, 2020 and 2019, respectively (in dollars) $183.56, $187.88 and $187.43

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
SEC Schedule III, Real Estate and Accumulated Depreciation, by Property [Table Text Block]	Encumbrances at December 31, 2021 Initial Costs Gross Amounts at Which Carried at December 31, 2021 Property Location Description Encum-brances Land Building and Improv-ements Real Estate Under Develop. Cost Capitalized Subsequent to Acquisition Land Building and Improv-ements Real Estate Under Develop. Total Accumu-lated Deprecia-tion Date Acquired Tribeca House Manhattan, NY Residential/ Commercial $ 360,000 $ 273,103 $ 283,137 $ — $ 30,780 $ 273,103 $ 313,917 — $ 587,020 $ 61,663 Dec-14 Aspen Manhattan, NY Residential/ Commercial 64,047 49,230 43,080 — 2,665 49,230 45,745 — 94,975 6,427 June-16 Flatbush Gardens Brooklyn, NY Residential 329,000 89,965 49,607 — 66,194 90,051 115,715 — 205,766 54,418 Oct-05 Clover House Brooklyn, NY Residential 82,000 43,516 44,100 — 58,326 43,516 102,426 — 145,942 5,366 May-17 10 West 65 th Manhattan, NY Residential 32,921 63,677 15,337 — 6,250 63,677 21,587 — 85,264 3,827 Oct-17 1010 Pacific St. Brooklyn, NY Residential 21,084 — — 31,129 25,449 — — 56,578 56,578 — Nov-19 Dean Street Brooklyn, NY Residential/ Commercial 30,000 — — 40,548 175 — — 40,723 40,723 — Dec-21 250 Livingston St. Brooklyn, NY Commercial/ Residential 125,000 10,452 20,204 — 22,628 10,452 42,832 — 53,284 16,796 May-02 141 Livingston St. Brooklyn, NY Commercial 100,000 10,830 12,079 — 11,291 10,830 23,370 — 34,200 9,505 May-02 $ 1,144,052 $ 540,773 $ 467,544 $ 71,677 $ 223,758 $ 540,859 $ 665,592 $ 97,301 $ 1,303,752 $ 158,002
Summarized Activity for Real Estate and Accumulated Depreciation [Table Text Block]	2021 2020 2019 Investment in real estate: Balance at beginning of period $ 1,222,977 $ 1,189,951 $ 1,116,199 Acquisition of real estate 40,548 — 31,129 Additions during period 40,251 33,169 42,623 Write-off of assets (24 ) (143 ) — Balance at end of period $ 1,303,752 $ 1,222,977 $ 1,189,951 Accumulated depreciation: Balance at beginning of period $ 132,479 $ 109,418 $ 90,462 Depreciation expense 25,536 23,148 18,956 Write-off of assets (13 ) (87 ) — Balance at end of period $ 158,002 $ 132,479 $ 109,418

Note 1 - Organization (Details

Note 1 - Organization (Details Textual)	Feb. 09, 2017USD ($)$ / sharesshares	Dec. 31, 2021USD ($)ft²a	Dec. 31, 2020USD ($)	Dec. 31, 2019shares	Feb. 28, 2022	Nov. 08, 2019	Oct. 27, 2017	May 09, 2017	Aug. 03, 2015
Formation Transaction, Units Converted to Commons Shares, Ratio									1
Joint Venture Expense | $			$ 500,000
Percentage of Aggregate Cash Distributions From, and Profits and Losses		37.90%
Corporate Joint Venture [Member]
Joint Venture, Ownership Percentage				50.00%
Corporate Joint Venture [Member] | General and Administrative Expense [Member]
Joint Venture Expense | $		$ 100,000
Residential Rental [Member] | Residential Property At 10 West 65th Street [Member]
Number of Units							82
Residential Rental [Member] | Property Located Brooklyn, New York [Member]
Number of Units						175
107 Columbia Heights in Brooklyn, NY [Member] | Apartment Building [Member]
Number of Units								158
Dean Street, Prospect Heights [Member] | Residential Rental [Member]
Number of Units					240
Number of Stories		9
Gross Leasable Area (Square Foot) | a		160,000
Dean Street, Prospect Heights [Member] | Retail Site [Member]
Gross Leasable Area (Square Foot) | a		9,000
Tribeca House properties in Manhattan [Member]
Number of Buildings		2
Tribeca House properties in Manhattan [Member] | Residential Rental [Member]
Gross Leasable Area (Square Foot)		483,000
Tribeca House properties in Manhattan [Member] | Rental Retail and Parking [Member]
Gross Leasable Area (Square Foot)		77,000
Tribeca House properties in Manhattan, Building One [Member]
Number of Stories		21
Tribeca House properties in Manhattan, Building Two [Member]
Number of Stories		12
Flatbush Gardens in Brooklyn [Member] | Multifamily [Member]
Number of Buildings		59
Number of Rentable Units		2,494
141 Livingston Street in Brooklyn [Member] | Office Building [Member]
Number of Stories		15
Gross Leasable Area (Square Foot)		216,000
250 Livingston Street in Brooklyn [Member] | Office and Residential Building [Member]
Number of Stories		12
Gross Leasable Area (Square Foot)		370,000
Aspen [Member]
Number of Stories		7
Aspen [Member] | Residential Rental [Member]
Gross Leasable Area (Square Foot)		166,000
Aspen [Member] | Retail Site [Member]
Gross Leasable Area (Square Foot)		21,000
Clover House [Member]
Number of Stories		11
Clover House [Member] | Apartment Building [Member]
Gross Leasable Area (Square Foot)		102,000
Property at 10 W 65th St. Manhattan, NY [Member] | Residential Rental [Member]
Number of Stories		6
Gross Leasable Area (Square Foot)		76,000
Residential Property in Brooklyn, NY [Member] | Residential Rental [Member]
Number of Stories		9
Property Located Brooklyn, New York [Member] | Residential Rental [Member]
Area of Real Estate Property (Square Foot)		119,000
Common Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares) | shares				1,917
IPO [Member] | Common Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares) | shares	6,390,149
Shares Issued, Price Per Share (in dollars per share) | $ / shares	$ 13.50
Proceeds from Issuance Initial Public Offering | $	$ 79,000

Note 2 - Issuance Repurchase _2

Note 2 - Issuance Repurchase of Common Stock (Details Textual) - USD ($) $ in Thousands	Apr. 09, 2019	Dec. 31, 2020	Aug. 31, 2020
Stock Repurchase Program, Authorized Amount			$ 10,000
Stock Repurchased During Period, Shares (in shares)		1,751,444
Stock Repurchased During Period, Value		$ 10,002
Director [Member]
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares)	1,917

Note 3 - Significant Accounti_3

Note 3 - Significant Accounting Policies (Details Textual) $ / shares in Units, $ in Thousands	1 Months Ended				12 Months Ended
	May 31, 2021shares	Mar. 31, 2021$ / sharesshares	Jun. 30, 2020$ / sharesshares	Apr. 30, 2020$ / sharesshares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares
Number of Operating Segments					2
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $					$ 2,300	$ 2,400
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)					1 year
Noncontrolling Interest, Increase from Amortization of LTIP Grants | $					$ 2,611	$ 1,805	$ 1,510
Percent of Distributed Dividends Equal to Taxable REIT Income					90.00%
Income Tax Expense (Benefit), Total | $					$ 0
Weighted Average Number Diluted Shares Outstanding Adjustment, Total (in shares)					0	0	0
Class B LLC Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)					26,317
LTIP Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)					325,192	529,304	158,534
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares			$ 8.10	$ 4.75	$ 8.34	$ 5.25	$ 13.33
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares)					33,389	0	0
LTIP Units [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		222,298	56,181	308,935
LTIP Units [Member] | Non-employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		102,894	22,500	141,688
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares		$ 8.34
LTIP Units [Member] | Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares)	33,389
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number (in shares)	19,984

Note 3 - Significant Accounti_4

Note 3 - Significant Accounting Policies - Estimated Useful Lives of Assets (Details)	12 Months Ended
	Dec. 31, 2021
Building and Building Improvements [Member]
Estimated useful life (Year)	44 years
Building and Building Improvements [Member] | Minimum [Member]
Estimated useful life (Year)	10 years
Furniture, Fixtures and Equipment [Member]
Estimated useful life (Year)	15 years
Furniture, Fixtures and Equipment [Member] | Minimum [Member]
Estimated useful life (Year)	3 years

Note 3 - Significant Accounti_5

Note 3 - Significant Accounting Policies - Summary of Awards (Details) - LTIP Units [Member] - $ / shares	1 Months Ended		12 Months Ended
	Jun. 30, 2020	Apr. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Unvested (in shares)			666,076	216,538	182,776
Unvested, Weighted Grant-Date Fair Value (in dollars per share)			$ 7.22	$ 12.15	$ 10.89
Granted (in shares)			325,192	529,304	158,534
Granted, Weighted Grant-Date Fair Value (in dollars per share)	$ 8.10	$ 4.75	$ 8.34	$ 5.25	$ 13.33
Vested (in shares)			(146,861)	(79,766)	(124,772)
Vested, Weighted Grant-Date Fair Value (in dollars per share)			$ 6.41	$ 7.50	$ 11.82
Forfeited (in shares)			(33,389)	0	0
Forfeited, Weighted Grant-Date Fair Value (in dollars per share)			$ 7.17	$ 0	$ 0
Unvested (in shares)			811,018	666,076	216,538
Unvested, Weighted Grant-Date Fair Value (in dollars per share)			$ 7.82	$ 7.22	$ 12.15

Note 3 - Significant Accounti_6

Note 3 - Significant Accounting Policies - Cash Distribution for Federal Income Tax Purposes (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Ordinary income	50.00%	0.00%	0.00%
Capital gain	0.00%	0.00%	0.00%
Return of capital	50.00%	100.00%	100.00%
Total	100.00%	100.00%	100.00%

Note 3 - Significant Accounti_7

Note 3 - Significant Accounting Policies - Basic and Diluted Earnings (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net loss attributable to common stockholders	$ (7,587)	$ (4,906)	$ (1,665)
Less: income attributable to participating securities	(653)	(478)	(319)
Subtotal	$ (8,240)	$ (5,384)	$ (1,984)
Weighted-average common shares outstanding (in shares)	16,063	17,629	17,814
Basic and diluted net loss per share attributable to common stockholders (in dollars per share)	$ (0.51)	$ (0.31)	$ (0.11)

Note 4 - Acquisitions (Details

Note 4 - Acquisitions (Details Textual) - USD ($) $ in Thousands	Feb. 14, 2022	Dec. 22, 2021	Nov. 08, 2019
Residential Property in Brooklyn, NY [Member]
Business Combination, Consideration Transferred, Total			$ 31,129
Business Combination, Acquisition Related Costs			$ 129
Dean Street, Prospect Heights [Member]
Business Combination, Consideration Transferred, Total	$ 3,701	$ 40,548
Business Combination, Acquisition Related Costs	$ 151	$ 148

Note 5 - Deferred Costs and I_3

Note 5 - Deferred Costs and Intangible Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Amortization of Lease Origination Costs and In-place Lease Intangible Assets	$ 226	$ 482	$ 693
Write off of Fully Amortized Lease Origination Costs and In-place Leases	10	849
Write Off of Unamortized Lease Origination Costs and In-place Leases		180
Amortization of Real Estate Abatements	481	481	482
Amortization of Intangible Assets, Total	0	30	$ 118
Impairment of Intangible Assets, Finite-lived	$ 0	$ 444

Note 5 - Deferred Costs and I_4

Note 5 - Deferred Costs and Intangible Assets - Deferred Costs and Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred costs	$ 348	$ 348
Lease origination costs	1,191	1,078
In-place leases	428	428
Real estate tax abatements	9,142	9,142
Total deferred costs and intangible assets	11,109	10,996
Less accumulated amortization	(3,983)	(3,276)
Total	$ 7,126	$ 7,720

Note 5 - Deferred Costs and I_5

Note 5 - Deferred Costs and Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
2022	$ 682
2023	573
2024	558
2025	547
2026	531
Thereafter	4,235
Total	$ 7,126	$ 7,720

Note 6 - Below-market Leases,_3

Note 6 - Below-market Leases, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Amortization of Below Market Lease	$ 104	$ 420	$ 1,298
Amortization of Below Market Lease, Write Off	$ 488	2,254
Gain on Termination of Lease [Member]
Amortization of Commercial Lease, Write Off		$ 1,048

Note 6 - Below-market Leases,_4

Note 6 - Below-market Leases, Net - Below-market Lease Intangibles Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Below-market leases	$ 297	$ 785
Less accumulated amortization	(244)	(628)
Total	$ 53	$ 157

Note 6 - Below-market Leases,_5

Note 6 - Below-market Leases, Net - Future Amortization Income (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
2022	$ 35
2023	18
Total	$ 53	$ 157

Note 7 - Notes Payable (Details

Note 7 - Notes Payable (Details Textual) - USD ($)

Dec. 22, 2021

Aug. 10, 2021

Feb. 18, 2021

May 08, 2020

Dec. 24, 2019

May 31, 2019

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2021

Nov. 01, 2027

Jul. 31, 2028

Jun. 30, 2021

Nov. 08, 2019

Feb. 21, 2018

Oct. 27, 2017

Jun. 27, 2016

Long-term Debt, Gross

$ 1,144,052,000

$ 1,089,720,000

$ 1,144,052,000

Gain (Loss) on Extinguishment of Debt, Total

(3,034,000)

$ (4,228,000)

$ (2,432,000)

Metlife Real Estate Lending LLC [Member] | Clover House Loans [Member]

Long-term Debt, Gross

$ 82,000,000

Debt Instrument, Interest Rate, Effective Percentage

3.53%

Secured First Mortgage Loan [Member] | New York Community Bank [Member]

Debt Instrument, Face Amount

$ 329,000,000

Debt Instrument, Interest Rate, Stated Percentage

3.125%

Debt Instrument, Interest and Principal Payments Period (Year)

30 years

Secured First Mortgage Loan [Member] | New York Community Bank [Member] | Flatbush Gardens, Brooklyn, NY [Member]

Gain (Loss) on Extinguishment of Debt, Total

$ (4,228,000)

Secured First Mortgage Loan [Member] | New York Community Bank [Member] | Prime Rate [Member]

Debt Instrument, Basis Spread on Variable Rate

2.75%

First Mortgage Loan With Interest-only Payments [Member] | Citi Real Estate Funding Inc. [Member]

Debt Instrument, Interest Rate, Stated Percentage

3.63%

Proceeds from Issuance of Long-term Debt, Total

$ 125,000,000

Debt Instrument, Prepayment Option, Number of Months Before Maturity (Month)

3 months

Mortgages 2 [Member] | New York Community Bank [Member] | 141 Livingston Street, Brooklyn [Member]

Long-term Debt, Gross

$ 79,500,000

Mortgages 2 [Member] | AIG Asset Management[Member] | Residential Property At 1010 Pacific Street [Member]

Debt Instrument, Prepayment Option, Number of Months Before Maturity (Month)

5 months

Debt Instrument, Term (Year)

36 months

Mortgages 2 [Member] | AIG Asset Management[Member] | Residential Property At 1010 Pacific Street [Member] | Minimum [Member]

Debt Instrument, Interest Rate, Stated Percentage

4.10%

Mortgages 2 [Member] | AIG Asset Management[Member] | London Interbank Offered Rate (LIBOR) [Member] | Residential Property At 1010 Pacific Street [Member]

Debt Instrument, Basis Spread on Variable Rate

3.60%

Debt Agreement Maximum Borrowing Capacity

$ 52,500,000

Secured First Mortgage Note [Member] | Citi Real Estate Funding Inc. [Member] | 141 Livingston Street, Brooklyn [Member]

Debt Instrument, Face Amount

$ 100,000,000

Debt Instrument, Interest Rate, Stated Percentage

3.21%

Debt Instrument, Prepayment Option, Number of Months Before Maturity (Month)

3 months

Debt Instrument, Term (Year)

10 years

Gain (Loss) on Extinguishment of Debt, Total

$ (3,034,000)

Fixed Interest Rate Financing [Member]

Debt Instrument, Interest Rate, Stated Percentage

4.506%

Long-term Debt, Gross

$ 360,000,000

Mortgages [Member] | New York Community Bank [Member] | Property at 10 W 65th St. Manhattan, NY [Member]

Debt Instrument, Interest Rate, Stated Percentage

3.375%

Long-term Debt, Gross

$ 34,350,000

Mortgages [Member] | New York Community Bank [Member] | Prime Rate [Member] | Property at 10 W 65th St. Manhattan, NY [Member] | Forecast [Member]

Debt Instrument, Basis Spread on Variable Rate

2.75%

Debt Instrument, Periodic Payment, Total

$ 152,000

Mortgages [Member] | Capital One Multifamily Finance LLC [Member] | Aspen [Member]

Debt Instrument, Interest Rate, Stated Percentage

3.68%

Long-term Debt, Gross

$ 70,000,000

Mortgages [Member] | Capital One Multifamily Finance LLC [Member] | Aspen [Member] | Forecast [Member]

Debt Instrument, Periodic Payment, Total

$ 321,000

Mortgages [Member] | Citibank NA [Member] | Residential Property At 1010 Pacific Street [Member]

Long-term Debt, Gross

$ 18,600,000

Debt Instrument, Interest Rate, Effective Percentage

4.85%

Mortgages [Member] | Citibank NA [Member] | Residential Property At 1010 Pacific Street [Member] | Minimum [Member]

Debt Instrument, Interest Rate, Effective Percentage

1.25%

Mortgages [Member] | Citibank NA [Member] | London Interbank Offered Rate (LIBOR) [Member] | Residential Property At 1010 Pacific Street [Member]

Debt Instrument, Basis Spread on Variable Rate

3.60%

Mortgages [Member] | Bank Leumi, N.A [Member] | Dean Street, Prospect Heights [Member]

Long-term Debt, Gross

$ 30,000

Debt Instrument, Interest Rate, Effective Percentage

4.85%

Mortgages [Member] | Bank Leumi, N.A [Member] | Dean Street, Prospect Heights [Member] | Minimum [Member]

Debt Instrument, Interest Rate, Effective Percentage

3.25%

Mortgages [Member] | Bank Leumi, N.A [Member] | Prime Rate [Member] | Dean Street, Prospect Heights [Member]

Debt Instrument, Basis Spread on Variable Rate

1.60%

Construction Loans [Member] | Citibank NA [Member] | Residential Property At 1010 Pacific Street [Member]

Debt Agreement Maximum Borrowing Capacity

$ 2,987,000

Note 7 - Notes Payable - Mortga

Note 7 - Notes Payable - Mortgages and Mezzanine Note Payable (Details) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Debt, gross		$ 1,144,052	$ 1,089,720
Unamortized debt issuance costs		(12,898)	(10,262)
Total debt, net of unamortized debt issuance costs		$ 1,131,154	1,079,458
Mortgages and Mezzanine Notes 1[Member] | Flatbush Gardens, Brooklyn, NY [Member]
Interest rate	[1]	3.125%
Debt, gross	[1]	$ 329,000	329,000
Mortgages and Mezzanine Notes 1[Member] | 250 Livingston Street in Brooklyn [Member]
Interest rate	[2]	3.63%
Debt, gross	[2]	$ 125,000	125,000
Mortgages and Mezzanine Notes 1[Member] | 141 Livingston Street, Brooklyn [Member]
Interest rate	[3]	3.875%
Debt, gross	[3]		74,241
Mortgages and Mezzanine Notes 1[Member] | Tribeca House Properties [Member]
Interest rate	[4]	4.506%
Debt, gross	[4]	$ 360,000	360,000
Mortgages and Mezzanine Notes 1[Member] | Aspen [Member]
Interest rate	[5]	3.68%
Debt, gross	[5]	$ 64,047	65,485
Mortgages and Mezzanine Notes 1[Member] | Clover House [Member]
Interest rate	[6]	3.53%
Debt, gross	[6]	$ 82,000	82,000
Mortgages and Mezzanine Notes 1[Member] | Property at 10 W 65th St. Manhattan, NY [Member]
Interest rate	[7]	3.375%
Debt, gross	[7]	$ 32,921	33,619
Mortgages and Mezzanine Notes 1[Member] | Residential Property At 1010 Pacific Street [Member]
Debt, gross	[8]		20,375
Mortgages and Mezzanine Notes 1[Member] | Dean Street, Prospect Heights [Member]
Debt, gross		$ 30,000
Mortgages and Mezzanine Notes 2 [Member] | 141 Livingston Street, Brooklyn [Member]
Interest rate	[3]	3.21%
Debt, gross	[3]	$ 100,000
Mortgages and Mezzanine Notes 2 [Member] | Residential Property At 1010 Pacific Street [Member]
Debt, gross	[8]	21,084
Mortgages and Mezzanine Notes [Member]
Unamortized debt issuance costs		$ (12,898)	$ (10,262)
[1]	The $329,000 mortgage note agreement with New York Community Bank (“NYCB”), entered into on May 8, 2020, matures on June 1, 2032, and bears interest at 3.125% through May 2027 and thereafter at the prime rate plus 2.75%, subject to an option to fix the rate. The note requires interest-only payments through May 2027, and monthly principal and interest payments thereafter based on a 30-year amortization schedule. The Company has the option to prepay all (but not less than all) of the unpaid balance of the note prior to the maturity date, subject to certain prepayment premiums, as defined.
[2]	The $125,000 mortgage note agreement with Citi Real Estate Funding Inc., entered into on May 31, 2019, matures on June 6, 2029, bears interest at 3.63% and requires interest-only payments for the entire term. The Company has the option to prepay all (but not less than all) of the unpaid balance of the note within three months of maturity, without a prepayment premium.
[3]	On February 18, 2021, the Company refinanced the $79,500 mortgage note agreement with NYCB, with a $100,000, ten-year secured first mortgage note with Citi Real Estate Funding Inc. The note matures on March 6, 2031, bears interest at 3.21% and requires interest-only payments for the entire term. The Company has the option to prepay all (but not less than all) of the unpaid balance of the note within three months of maturity, without a prepayment premium.
[4]	The $360,000 loan with Deutsche Bank, entered into on February 21, 2018, matures on March 6, 2028, bears interest at 4.506% and requires interest-only payments for the entire term. The Company has the option to prepay all (but not less than all) of the unpaid balance of the loan prior to the maturity date, subject to a prepayment premium if it occurs prior to December 6, 2027.
[5]	The $70,000 mortgage note agreement with Capital One Multifamily Finance LLC matures on July 1, 2028, and bears interest at 3.68%. The note required interest-only payments through July 2017, and monthly principal and interest payments of $321 thereafter based on a 30-year amortization schedule. The Company has the option to prepay the note prior to the maturity date, subject to a prepayment premium.
[6]	The $82,000 mortgage note agreement with MetLife Investment Management, entered into on November 8, 2019, matures on December 1, 2029, bears interest at 3.53% and requires interest-only payments for the entire term. The Company has the option, commencing on January 1, 2024, to prepay the note prior to the maturity date, subject to a prepayment premium if it occurs prior to September 2, 2029.
[7]	On October 27, 2017, the Company entered into a $34,350 mortgage note agreement with NYCB, related to the 10 West 65th Street acquisition. The note matures on November 1, 2027, and bears interest at 3.375% through October 2022 and thereafter at the prime rate plus 2.75%, subject to an option to fix the rate. The note required interest-only payments through November 2019, and monthly principal and interest payments of $152 thereafter based on a 30-year amortization schedule. The Company has the option to prepay all (but not less than all) of the unpaid balance of the note prior to the maturity date, subject to certain prepayment premiums, as defined.
[8]	On December 24, 2019, the Company entered into a $18,600 mortgage note agreement with CIT Bank, N.A., related to the 1010 Pacific Street acquisition. The Company also entered into a pre-development bridge loan secured by the property with the same lender to provide up to $2,987 for eligible pre-development and carrying costs, of which $2,280 was drawn as of June 30, 2021. The notes were scheduled to mature on June 24, 2021, required interest-only payments and bore interest at one-month LIBOR (with a floor of 1.25%) plus 3.60% (4.85% as of June 30, 2021). The notes were extended in June 2021 with a new maturity date of August 30, 2021. The Company guaranteed this mortgage note and complied with the financial covenants therein. On August 10, 2021, the Company refinanced the above 1010 Pacific Street loan with a group of loans with AIG Asset Management (U.S.), LLC providing for maximum borrowings of $52,500 to develop the property. The notes have a 36 month term, bear interest at 30 day LIBOR plus 3.60% (with a floor of 4.1%). The notes mature on September 1, 2024 and may be extended until September 1, 2026. The Company may prepay the unpaid balance of the note within five months of maturity.

Note 7 - Notes Payable - Summar

Note 7 - Notes Payable - Summary of Principal Payment Requirements (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
2022	$ 32,215
2023	2,296
2024	23,459
2025	2,468
2026	2,559
Thereafter	1,081,055
Total	$ 1,144,052	$ 1,089,720

Note 8 - Rental Income Under _3

Note 8 - Rental Income Under Operating Leases (Details Textual)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Total Revenue [Member] | Customer Concentration Risk [Member] | City of New York [Member]
Concentration Risk, Percentage	25.00%	21.00%	19.00%

Note 8 - Rental Income Under _4

Note 8 - Rental Income Under Operating Leases - Minimum Future Cash Rents Receivable (Details) $ in Thousands	Dec. 31, 2021USD ($)
2022	$ 30,369
2023	29,066
2024	28,813
2025	23,139
2026	2,820
Thereafter	10,285
Total	$ 124,492

Note 9 - Fair Value of Financ_3

Note 9 - Fair Value of Financial Instruments - Carrying Amount and Fair Value of Mortgage Notes Payable (Details) - Mortgages [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Reported Value Measurement [Member]
Mortgage notes payable	$ 1,144,052	$ 1,089,720
Estimate of Fair Value Measurement [Member]
Mortgage notes payable	$ 1,199,409	$ 1,204,201

Note 10 - Commitments and Con_3

Note 10 - Commitments and Contingencies (Details Textual) $ in Thousands	Mar. 04, 2022USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Loss Contingency, Number of Legal Cases		3
Litigation Settlement, Expense		$ 2,730	$ 0	$ 0
Payments to Acquire Businesses, Deposit		2,015	$ 0	$ 0
Financing Receivable Deferred Payments		700
Obligated to Provide Parking [Member]
Other Commitment, Total		$ 205
Subsequent Event [Member] | Kuzmich Case [Member]
Litigation Settlement, Expense	$ 2,700

Note 10 - Commitments and Con_4

Note 10 - Commitments and Contingencies - Summary of Concentration Risk by Segment (Details) - Total Revenue [Member] - Geographic Concentration Risk [Member] - New York City [Member]	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Concentration Risk, Percentage	100.00%	100.00%	100.00%
Commercial Segment [Member]
Concentration Risk, Percentage	30.00%	26.00%	30.00%
Residential Segment [Member]
Concentration Risk, Percentage	70.00%	74.00%	70.00%

Note 11 - Related-party Trans_2

Note 11 - Related-party Transactions (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock Repurchased During Period, Shares (in shares)			1,751,444
Stock Repurchased During Period, Value			$ 10,002
Overhead Charged Related to Office Expenses [Member] | General and Administrative Expense [Member]
Related Party Transaction, Amounts of Transaction		$ 267	266	$ 148
Reimbursable Payroll Expense [Member] | General and Administrative Expense [Member]
Related Party Transaction, Amounts of Transaction		7	75	79
Firms in Which Two Directors Were Principals or Partners [Member]
Related Party Transaction, Amounts of Transaction		$ 604	$ 5	$ 428
Indaba Capital Management, L.P. [Member]
Stock Repurchased During Period, Shares (in shares)	1,670,000
Related Party, Percentage of Ownership	5.00%
Stock Repurchased During Period, Value	$ 9,507

Note 12 - Segment Reporting - S

Note 12 - Segment Reporting - Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Total revenues	$ 122,729	$ 122,850	$ 116,165
Property operating expenses	28,997	29,902	28,887
Real estate taxes and insurance	30,449	28,286	24,966
General and administrative	10,570	9,728	9,167
Transaction pursuit costs	60	0	0
Depreciation and amortization	25,762	23,630	19,649
Total operating expenses	95,838	91,546	82,669
Litigation settlement and other	(2,730)	0	0
Income from operations	24,161	32,142	33,496
Gain on termination of lease	0	838	0
Total Assets	1,233,657	1,207,866	1,166,207
December 31, 2019	1,233,657	1,207,866	1,166,207
Year ended December 31, 2021	41,284	40,228	35,187
Year ended December 31, 2020	41,284	40,228	35,187
Year ended December 31, 2021	80,799	33,169	42,623
Rental Income [Member]
Total revenues	122,729	122,850
Commercial Segment [Member]
Total revenues	36,958	32,307	28,779
Property operating expenses	4,431	4,209	4,354
Real estate taxes and insurance	7,807		5,465
General and administrative	1,990	1,365	1,355
Transaction pursuit costs	60
Depreciation and amortization	5,133	4,463	3,905
Total operating expenses	19,421	16,741	15,079
Litigation settlement and other	0
Income from operations	17,537	16,404	13,700
Gain on termination of lease		838
Total Assets	310,423	282,789	285,103
December 31, 2019	310,423	282,789	285,103
Year ended December 31, 2021	10,238	8,167	7,241
Year ended December 31, 2020	10,238	8,167	7,241
Year ended December 31, 2021	7,307	8,915	6,038
Commercial Segment [Member] | Rental Income [Member]
Total revenues	36,958	32,307
Residential Segment [Member]
Total revenues	85,771	90,543	87,386
Property operating expenses	24,566	25,693	24,533
Real estate taxes and insurance	22,642	21,582	19,501
General and administrative	8,580	8,363	7,812
Transaction pursuit costs	0
Depreciation and amortization	20,629	19,167	15,744
Total operating expenses	76,417	74,805	67,590
Litigation settlement and other	(2,730)
Income from operations	6,624	15,738	19,796
Gain on termination of lease		0
Total Assets	923,234	925,077	881,104
December 31, 2019	923,234	925,077	881,104
Year ended December 31, 2021	31,046	32,061	27,946
Year ended December 31, 2020	31,046	32,061	27,946
Year ended December 31, 2021	73,492	24,254	$ 36,585
Residential Segment [Member] | Rental Income [Member]
Total revenues	$ 85,771	$ 90,543

Note 13 - Multiemployer Union_3

Note 13 - Multiemployer Union Agreement and Pension Plan - Multiemployer Pension Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Building Service 32BJ Pension Fund [Member]
Pension contribution made for 2021, 2020 and 2019, respectively	$ 382,000	$ 362,000	$ 325,000
Minimum weekly required pension contribution per employee for 2021, 2020 and 2019, respectively (in dollars)	117.63	118.09	114.11
Central Pension Fund of the International Union of Operating Engineers and Participating Employers [Member]
Pension contribution made for 2021, 2020 and 2019, respectively	38,000	39,000	39,000
Minimum weekly required pension contribution per employee for 2021, 2020 and 2019, respectively (in dollars)	$ 183.56	$ 187.88	$ 187.43

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation (Details Textual)	Dec. 31, 2021USD ($)
Real Estate Investment Property, Aggregate Cost for Federal Tax Purposes	$ 868,245

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation, by Property (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Encumbrances, initial costs	$ 1,144,052
Land, initial costs	540,773
Building and improvements, initial costs	467,544
Real estate under development, initial costs	71,677
Cost capitalized subsequent to acquisition	223,758
Land, carrying amount	540,859
Building and improvements, carrying amount	665,592
Real estate under development, carrying amont	97,301
Total carrying amount	1,303,752	$ 1,222,977	$ 1,189,951	$ 1,116,199
Accumulated depreciation	158,002	$ 132,479	$ 109,418	$ 90,462
Tribeca House Properties [Member]
Encumbrances, initial costs	360,000
Land, initial costs	273,103
Building and improvements, initial costs	283,137
Real estate under development, initial costs	0
Cost capitalized subsequent to acquisition	30,780
Land, carrying amount	273,103
Building and improvements, carrying amount	313,917
Real estate under development, carrying amont	0
Total carrying amount	587,020
Accumulated depreciation	61,663
Aspen [Member]
Encumbrances, initial costs	64,047
Land, initial costs	49,230
Building and improvements, initial costs	43,080
Real estate under development, initial costs	0
Cost capitalized subsequent to acquisition	2,665
Land, carrying amount	49,230
Building and improvements, carrying amount	45,745
Real estate under development, carrying amont	0
Total carrying amount	94,975
Accumulated depreciation	6,427
Flatbush Gardens, Brooklyn, NY [Member]
Encumbrances, initial costs	329,000
Land, initial costs	89,965
Building and improvements, initial costs	49,607
Real estate under development, initial costs	0
Cost capitalized subsequent to acquisition	66,194
Land, carrying amount	90,051
Building and improvements, carrying amount	115,715
Real estate under development, carrying amont	0
Total carrying amount	205,766
Accumulated depreciation	54,418
Clover House [Member]
Encumbrances, initial costs	82,000
Land, initial costs	43,516
Building and improvements, initial costs	44,100
Real estate under development, initial costs	0
Cost capitalized subsequent to acquisition	58,326
Land, carrying amount	43,516
Building and improvements, carrying amount	102,426
Real estate under development, carrying amont	0
Total carrying amount	145,942
Accumulated depreciation	5,366
Property at 10 W 65th St. Manhattan, NY [Member]
Encumbrances, initial costs	32,921
Land, initial costs	63,677
Building and improvements, initial costs	15,337
Real estate under development, initial costs	0
Cost capitalized subsequent to acquisition	6,250
Land, carrying amount	63,677
Building and improvements, carrying amount	21,587
Real estate under development, carrying amont	0
Total carrying amount	85,264
Accumulated depreciation	3,827
Residential Property At 1010 Pacific Street [Member]
Encumbrances, initial costs	21,084
Land, initial costs	0
Building and improvements, initial costs	0
Real estate under development, initial costs	31,129
Cost capitalized subsequent to acquisition	25,449
Land, carrying amount	0
Building and improvements, carrying amount	0
Real estate under development, carrying amont	56,578
Total carrying amount	56,578
Accumulated depreciation	0
Dean Street, Prospect Heights [Member]
Encumbrances, initial costs	30,000
Land, initial costs	0
Building and improvements, initial costs	0
Real estate under development, initial costs	40,548
Cost capitalized subsequent to acquisition	175
Land, carrying amount	0
Building and improvements, carrying amount	0
Real estate under development, carrying amont	40,723
Total carrying amount	40,723
Accumulated depreciation	0
250 Livingston Street in Brooklyn [Member]
Encumbrances, initial costs	125,000
Land, initial costs	10,452
Building and improvements, initial costs	20,204
Real estate under development, initial costs	0
Cost capitalized subsequent to acquisition	22,628
Land, carrying amount	10,452
Building and improvements, carrying amount	42,832
Real estate under development, carrying amont	0
Total carrying amount	53,284
Accumulated depreciation	16,796
141 Livingston Street in Brooklyn [Member]
Encumbrances, initial costs	100,000
Land, initial costs	10,830
Building and improvements, initial costs	12,079
Real estate under development, initial costs	0
Cost capitalized subsequent to acquisition	11,291
Land, carrying amount	10,830
Building and improvements, carrying amount	23,370
Real estate under development, carrying amont	0
Total carrying amount	34,200
Accumulated depreciation	$ 9,505

Schedule III - Real Estate an_5

Schedule III - Real Estate and Accumulated Depreciation - Summarized Activity for Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Balance at beginning of period	$ 1,222,977	$ 1,189,951	$ 1,116,199
Acquisition of real estate	40,548	0	31,129
Additions during period	40,251	33,169	42,623
Write-off of assets	(24)	(143)	0
Balance at end of period	1,303,752	1,222,977	1,189,951
Balance at beginning of period	132,479	109,418	90,462
Depreciation expense		23,148	18,956
Write-off of assets		(87)	0
Balance at end of period	$ 158,002	$ 132,479	$ 109,418