| Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
| Dec. 31, 2020 | Dec. 31, 2019 |
| Entity Listings [Line Items] | | |
| Basis of Accounting | Basis
of presentation The
Companys financial statements have been prepared in conformity with accounting principles generally accepted in the United
States of America (GAAP) and include all adjustments necessary for the fair presentation of the Companys
financial position for the periods presented. | |
| Emerging growth company | Emerging
growth company The
Company is an emerging growth company, as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart
our Business Startups Act of 2012, (the JOBS Act), and it may take advantage of certain exemptions from various
reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not
limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced
disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the
requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute
payments not previously approved. Further,
section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial
accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared
effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised
financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and
comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The
Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and
it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the
new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Companys
financial statements with another public company which is neither an emerging growth company nor an emerging growth company which
has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting
standards used. | |
| Cash and Cash Equivalents | Cash
and cash equivalents The
Company considers all highly liquid investments with an original maturity of three months or less when acquired to be cash equivalents. | |
| Marketable Securities | Marketable
Securities The
Companys portfolio of marketable securities is comprised solely of U.S. government securities, within the meaning set forth
in Section 2(a)(16) of the Investment Company Act, with a maturity of 180 days or less or in any open-ended investment company
that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (d)(2), (d)(3) and (d)(4)
of Rule 2a-7 of the Investment Company Act, as determined by the Company, classified as trading securities. Trading securities
are presented on the balance sheets at fair value at the end
of each reporting period. Gains and losses resulting from the change in fair value of these securities is recognized as gains
or losses in the accompanying Statements of Operations. The estimated fair values of financial instruments are determined using
available market information. | |
| Use of Estimates | 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 contingent assets and liabilities at the date of the financial
statements and the reported amounts of expenses during the reporting period. Making estimates requires management to exercise
significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances
that existed at the date of the financial statements, which management considered in formulating its estimate, could change in
the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those
estimates. | |
| Concentration of credit risk | Concentration
of credit risk Financial
instruments that potentially subject the Company to concentration of credit risk consist of cash and cash equivalents and marketable
securities held for trading. Cash and cash equivalents are maintained in accounts with financial institutions, which, at times
may exceed the Federal depository insurance coverage of $ 250,000 | |
| Fair value of financial instruments | Fair
value of financial instruments The
fair value of the Companys assets and liabilities, which qualify as financial instruments under ASC Topic 820, Fair
Value Measurements and Disclosures, approximates the carrying amounts represented in the accompanying balance sheet, primarily
due to their short-term nature. Marketable securities are classified as trading securities and are therefore recognized at fair
value. The fair value for trading securities is determined using quoted market prices. | |
| Fair Value Measurements | Fair
Value Measurements Fair
value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction
between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the
inputs used in measuring fair value. The
hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level
1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:
● Level
1, defined as observable inputs such as quoted prices for identical instruments in active markets;
● Level
2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted
prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not
active; and
● Level
3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions,
such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are
unobservable. ASC
820, Fair Value Measurement and Disclosures, requires all entities to disclose the fair value of financial instruments, both assets
and liabilities for which it is practicable to estimate fair value, and defines fair value of a financial instrument as the amount
at which the instrument could be exchanged in a current transaction between willing parties. As of December 31, 2020 and 2019,
the recorded values of cash and cash equivalents, prepaid expenses, accounts payable, accrued expenses, and note payable to related
parties approximate the fair values due to the short-term nature of the instruments. The Companys portfolio of marketable
securities is comprised of an investment
in U.S Treasury Bills and money market fund with an original maturity of 180 days or less. The fair value for trading securities
is determined using quoted market prices. | |
| Class A Common Stock Subject to Possible Redemption | Class
A Common Stock Subject to Possible Redemption The
Company accounts for its Class A common stock subject to possible redemption in accordance with the guidance in ASC Topic 480
Distinguishing Liabilities from Equity. Class A common stock subject to mandatory redemption (if any) are
classified as liability instruments and are measured at fair value. Conditionally redeemable Class A common stock (including
Class A common stock that feature redemption rights that are either within the control of the holder or subject to redemption
upon the occurrence of uncertain events not solely within the Companys control) are classified as temporary equity. At
all other times, shares of Class A common stock are classified as stockholders equity. The Companys Class A
common stock features certain redemption rights that are considered to be outside of the Companys control and subject
to the occurrence of uncertain future events. Accordingly, at December 31, 2019, 14,461,820 no | |
| Net Income (Loss) per Share | Net
Income (Loss) per Share The
Company complies with accounting and disclosure requirements of FASB ASC Topic 260, Earnings Per Share. Net income
(loss) per share is computed by dividing net income (loss) applicable to common stockholders by the weighted average number of
shares of common stock outstanding for the period. The Company has not considered the effect of the warrants sold in the Initial
Public Offering and Private Placement to purchase an aggregate of 23,285,000 The
Companys statements of operations include a presentation of income (loss) per share for common stock subject to redemption
in a manner similar to the two-class method of income (loss) per share. Net income (loss) per share, basic and diluted for Class
A common stock is calculated by dividing the interest income earned on the Trust Account, net of applicable taxes, by the weighted
average number of shares of Class A common stock outstanding since the initial issuance. Net income (loss) per share, basic and
diluted for Class B common stock is calculated by dividing the net income (loss), less income attributable to Class A common stock,
by the weighted average number of shares of Class B common stock outstanding for the periods. | |
| Reconciliation of net income (loss) per share | Reconciliation
of net income (loss) per share The
Companys net income was adjusted for the portion of income that was attributable to Class A common stock subject to redemption,
as these shares only participate in the earnings of the Trust Account (less applicable taxes) and not the income or losses of
the Company. Accordingly, basic and diluted income per Class A common stock is calculated as follows:
Schedule of earning per shares
For
the Years Ended December 31,
2020 2019
Net
(loss) income $ (2,096,495 ) $ 1,771,836
Less:
Income attributable to Class A common stock (373,819 ) (2,598,143 )
Adjusted
net loss attributable to Class B common stock $ (2,470,314 ) $ (826,307 )
Weighted
average shares outstanding of Class A common stock 14,006,380 15,525,000
Basic
and diluted net income per share, Class A $ 0.03 $ 0.17
Weighted
average shares outstanding of Class B common stock 3,881,250 3,881,250
Basic
and diluted net loss per share, Class B $ (0.64 ) $ (0.21 ) | |
| Income Taxes | Income
Taxes The
Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, Income Taxes.
Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between
the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets
and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates
is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary,
to reduce deferred tax assets to the amount expected to be realized. FASB
ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement
of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more
likely than not to be sustained upon examination by taxing authorities. There were no No | |
| Recent Accounting Pronouncements | Recent
Accounting Pronouncements In
December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes The Companys adoption of this
standard on January 1, 2020, did not have a material impact on its condensed financial statements and related disclosures. Management
does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would
have a material effect on the Companys financial statements. | |
| Landsea Homes [Member] | | |
| Entity Listings [Line Items] | | |
| Basis of Accounting | Basis of Presentation and Consolidation The consolidated financial statements
include certain assets and liabilities recorded on the books of Landsea Holdings that are related to assets and liabilities directly
attributable to the Company. The Company was historically funded
as part of Landsea Holdings’ treasury program. Cash and cash equivalents were primarily centrally managed through bank accounts
legally owned by Landsea Holdings. Accordingly, cash and cash equivalents held by Landsea Holdings at the corporate level were
not attributed to the Company for any of the periods presented. Only cash amounts legally owned by entities dedicated to the Company
are reflected in the consolidated balance sheets. Transfers of cash, both to and from Landsea Holdings’ treasury program,
are reflected as a component of additional paid-in capital in the consolidated balance sheets and as a financing activity on the
accompanying consolidated statements of cash flows. As the functional departments that
make up the Company were not held by a single legal entity, balances between the Company and Landsea Holdings that were not historically
cash settled are included in additional paid-in capital. Additional paid-in capital represents Landsea Holdings’ interest
in the recorded assets of the Company and represents the cumulative investment by Landsea Holdings in the Company through the dates
presented. Landsea Holdings holds a series
of notes payable to affiliated entities of its parent. The cash Landsea Holdings received from this debt was partially utilized
to fund operations of the Company. Related party interest incurred by Landsea Holdings (the “Related Party Interest”)
was historically pushed down to the Company and reflected on the consolidated balance sheets of the Company, primarily in real
estate inventories, and on the consolidated statements of operations in cost of sales. Similarly, Landsea Holdings holds a note
payable with a third party, the interest of which was also historically pushed down to the Company. Refer to Note 5 - Capitalized
Interest During the periods presented in
the consolidated financial statements, the Company was included in the consolidated U.S. federal, and certain state and local income
tax returns filed by Landsea Holdings, where applicable. Income tax expense and other income tax related information contained
in these consolidated financial statements are presented on a separate return basis as if the Company had filed its own tax returns.
Additionally, certain tax attributes such as net operating losses or credit carryforwards are presented on a separate return basis,
and accordingly, may differ in the future. In jurisdictions where the Company has been included in the tax returns filed by Landsea
Holdings, any income tax payables or receivables resulting from the related income tax provisions have been reflected in the consolidated
balance sheets and the effect of the push down is reflected within additional paid-in capital. The management of the Company believes
that the assumptions underlying the consolidated financial statements, including the assumptions regarding the allocated expenses,
reasonably reflect the utilization of services provided, or the benefit received by the Company during the periods presented. Nevertheless,
the statements may not be indicative of the Company’s future performance, do not necessarily include all of the actual expenses
that would have been incurred had the Company been an independent entity during the historical periods, and may not reflect the
results of operations, financial position, and cash flows had the Company been a stand-alone company during the periods presented. | |
| Cash and Cash Equivalents | Cash and Cash Equivalents | |
| Use of Estimates | Use of Estimates | |
| Income Taxes | Income
Taxes Income Taxes Each
year the Company assesses its deferred tax asset to determine whether all or any portion of the asset is more likely than not
(defined as a likelihood of more than 50%) unrealizable under ASC 740. The Company is required to establish a valuation allowance
for any portion of the tax asset determined to be more likely than not unrealizable. The Companys assessment considers, among
other things, the nature, frequency and severity of prior cumulative losses, forecasts of future taxable income, the duration
of statutory carryforward periods, utilization experience with net operating losses and tax credit carryforwards and the planning
alternatives, to the extent these items are applicable. The ultimate realization of deferred tax assets depends primarily on the
generation of future taxable income during the periods in which the differences become deductible. The value of the Companys
deferred tax assets will depend on applicable income tax rates. Judgment is required in determining the future tax consequences
of events that have been recognized in the Companys consolidated financial statements and/or tax returns. Differences between
anticipated and actual outcomes of these future tax consequences could have a material impact on the Companys consolidated financial
statements. | |
| Recent Accounting Pronouncements | Recent
Accounting Pronouncements In
February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) 4.6 In
June 2016, the FASB issued ASU 2016-13, which changes the methodology for recognizing credit losses and is effective for annual
reporting periods beginning after December 15, 2019. Early adoption was permitted. The Company adopted ASU 2016-13 on January
1, 2020, which did not have a material impact to the consolidated financial statements as a result of adoption. In
January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill
Impairment In
August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) - Disclosure Framework Changes to the Disclosure
Requirements for Fair Value Measurement In
August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customers
Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract In
December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In
January 2020, the FASB issued ASU 2020-01, Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint
Ventures (Topic 323), and Derivative and Hedging (Topic 815) In
March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform
on Financial Reporting | |
| Business Combinations | Business Combinations Note 3 - Business Combinations | |
| Reclassification | Reclassifications | |
| Cash Held in Escrow | Cash Held in Escrow | |
| Restricted Cash | Restricted Cash | |
| Real Estate Inventories and Cost of Sales | Real Estate Inventories and
Cost of Sales Land,
development, and other common costs are typically allocated to real estate inventories using a methodology that approximates the
relative-sales-value method. If the relative-sales-value-method is impracticable, costs are allocated based on area methods (such
as square footage or lot size) or other value methods as appropriate under the circumstances. Home construction costs per production
phase are recorded using the specific identification method. Cost of sales for homes closed includes the estimated total construction
costs of each home at completion and an allocation of all applicable land acquisition, land development, and related common costs
(both incurred and estimated to be incurred) within each project. Changes in estimated development and common costs are allocated
prospectively to remaining homes in the project. In
accordance with ASC 360, Property, Plant and Equipment, If
there are indicators of impairment, the Company performs a detailed budget and cash flow review of the applicable real estate
inventories to determine whether the estimated remaining undiscounted future cash flows of the project are more or less than the
assets carrying value. If the undiscounted estimated future cash flows are more than the assets carrying value,
no impairment adjustment is required. However, if the undiscounted estimated future cash flows are less than the assets
carrying value, the asset is deemed impaired and is written down to fair value. Fair value is measured in accordance with ASC
820, Fair Value Measurements and Disclosures When
estimating undiscounted estimated future cash flows of a project, the Company makes various assumptions, including: (i) expected
sales prices and sales incentives to be offered, including the number of homes available, pricing and incentives being offered
by the Company or other builders in other projects, and future sales price adjustments based on market and economic trends; (ii)
expected sales absorption and cancellation rates based on local housing market conditions, competition and historical trends;
(iii) costs expended to date and expected to be incurred including, but not limited to, land and land development costs, home
construction costs, interest costs, indirect construction and overhead costs, and selling and marketing costs; (iv) alternative
product offerings that may be offered that could have an impact on sales pace, sales price and/or building costs; and (v) alternative
uses for the property. Many
assumptions are interdependent and a change in one may require a corresponding change to other assumptions. For example, increasing
or decreasing sales absorption rates has a direct impact on the estimated per unit sales price of a home, the level of time sensitive
costs (such as indirect construction, overhead and carrying costs), and selling and marketing costs (such as model maintenance
costs and advertising costs). Depending on the underlying objective of the project, assumptions could have a significant impact
on the projected cash flow analysis. For example, if the Companys objective is to preserve operating margins, its cash flow analysis
will be different than if the objective is to increase the velocity of sales. These objectives may vary significantly from project
to project and over time. If
real estate assets are considered impaired, the impairment adjustments are calculated by determining the amount the assets carrying
value exceeds its fair value, as measured in accordance with ASC 820. The Company calculates the fair value of real estate projects
by using either a land residual value analysis or a discounted cash flow analysis. Under the land residual value analysis, the
Company estimates what a willing buyer would pay and what a willing seller would sell a parcel of land for (other than in a forced
liquidation) in order to generate a market rate operating margin and return. Under the discounted cash flow method, the fair value
is determined by calculating the present value of future cash flows using a risk adjusted discount rate. Critical assumptions
that are included as part of these analyses include estimating future housing revenues, sales absorption rates, land development,
construction and related carrying costs (including future capitalized interest), and all direct selling and marketing costs. This
evaluation and the assumptions used by management to determine future estimated cash flows and fair value require a substantial
degree of judgment, especially with respect to real estate projects that have a substantial amount of development to be completed,
have not started selling or are in the early stages of sales, or are longer in duration. Actual revenues, costs and time to complete
and sell a community could vary from these estimates, which could impact the calculation of fair value of the asset and the corresponding
amount of impairment that is recorded in the Companys results of operations. | |
| Real Estate Inventories Not Owned | Real
Estate Inventories Not Owned no | |
| Capitalization of Interest | Capitalization
of Interest Interest | |
| Investment in and Advances to Unconsolidated Joint Ventures | Investment
in and Advances to Unconsolidated Joint Ventures As
of December 31, 2020 and 2019, the Company concluded that some of its joint ventures were VIEs. The Company concluded that it
was not the primary beneficiary of the variable interest entities and, accordingly, accounted for these entities under the equity
method of accounting. Under
the equity method, the Company recognizes its proportionate share of earnings and losses generated by the joint venture upon the
delivery of lots or homes to third parties. The Companys proportionate share of intra-entity profits and losses, to the extent
they exist, are eliminated until the related asset has been sold by the unconsolidated joint venture to third parties. The Company
classifies cash distributions received from equity method investees using the cumulative earnings approach consistent with ASU
2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments The
Company also reviews its investments in and advances to unconsolidated joint ventures for evidence of other-than-temporary declines
in value. To the extent the Company deems any portion of its investment in and advances to unconsolidated joint ventures as not
recoverable, the Company would impair its investment accordingly. For the years ended December 31, 2020, and 2019, no impairments
related to investment in and advances to unconsolidated joint ventures were recorded. | |
| Notes Receivable from Lot Sales | Notes
Receivable from Lot Sales no | |
| Goodwill | Goodwill Intangibles–Goodwill and Other no For
the year ended December 31, 2020 there was an addition of $ 15.4 5.3 Note 3 - Business Combinations | |
| Variable Interest Entities | Variable
Interest Entities Consolidation Under
ASC 810, a non-refundable deposit paid to an entity may be deemed to be a variable interest that will absorb some or all of the
entitys expected losses if they occur. The Companys land purchase and lot option deposits generally represent its maximum
exposure to the land seller if it elects not to purchase the optioned property. In some instances, the Company may also expend
funds for due diligence, development and construction activities with respect to optioned land prior to takedown. Such costs are
classified as real estate inventories, which the Company would have to write off should it not exercise the option. Therefore,
whenever the Company enters into a land option or purchase contract with an entity and makes a non-refundable deposit, a VIE may
have been created. As
of December 31, 2020 and 2019, the Company was not required to consolidate any VIEs. In accordance with ASC 810, the Company performs
ongoing reassessments of whether it is the primary beneficiary of a VIE. | |
| Property and Equipment | Property
and Equipment 1.4 1.1 0.5 | |
| Capitalized Selling and Marketing Costs | Capitalized
Selling and Marketing Costs Revenue from Contracts with Customers (Topic 606) Other Assets and Deferred Costs 1.6 1.9 1.1 | |
| Warranty Accrual | Warranty
Accrual | |
| Revenue Recognition | Revenue
Recognition Home
Sales and Profit Recognition Home
sales revenue is recognized when the Companys performance obligations within the underlying sales contracts are fulfilled. The
Company considers its obligations fulfilled when closing conditions are complete, title has transferred to the homebuyer, and
collection of the purchase price is reasonably assured. Sales incentives are recorded as a reduction of revenues when the respective
home is closed. The profit recorded is based on the calculation of cost of sales, which is dependent on the Companys estimate
of total cost, as described in more detail above in the section Real Estate Inventories and Cost of Sales. When it
is determined that the earnings process is not complete, the related revenue and profit are deferred for recognition in future
periods. Lot
Sales and Profit Recognition Revenues
from lot sales are recorded and a profit is recognized when performance obligations are satisfied, which includes transferring
a promised good or service to a customer. Lot sales are recognized when all conditions of escrow are met, including delivery of
the real estate asset in the agreed-upon condition, passage of title, receipt of appropriate consideration, and collection of
associated receivables, if any, is probable, and other applicable criteria are met. Based upon the terms of the agreement, when
it is determined that the performance obligation is not satisfied, the sale and the related profit are deferred for recognition
in future periods. Under
the terms of certain lot sale contracts, the Company is obligated to perform certain development activities after the close of
escrow. Due to this continuing involvement, the Company recognizes lot sales under the percentage-of-completion method, whereby
revenue is recognized in proportion to total costs incurred divided by total costs expected to be incurred. As of December 31,
2020 and 2019, the Company had no 15.9 | |
| Long-term Incentive Plan | Long-term Incentive Plan Compensation 1.2 1.6 0.3 2.2 1.9 Subsequent
to year-end, in connection with the Merger Agreement, all of the remaining phantom equity awards vested and were paid out or converted
to shares of LHC. | |
| LS Boston Point LLC [Member] | | |
| Entity Listings [Line Items] | | |
| Basis of Accounting | Basis of Accounting The accompanying financial
statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in
the United States of America (“GAAP”). | Basis of Accounting The accompanying financial statements
have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United
States of America (“ GAAP |
| Use of Estimates | Use of Estimates The
preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect
certain reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial
statements and reported amounts of revenue and expenses during the period. Actual results could differ from management’s
estimates. The real estate
industry has historically been cyclical and sensitive to changes in economic conditions such as interest rates, credit availability,
and unemployment levels. Changes in these economic conditions could affect the assumptions used by management in preparing the
accompanying financial statements. | Use of Estimates The preparation of the financial
statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts
of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and reported
amounts of revenue and expenses during the period. Actual results could differ from management’s estimates. The real estate industry has
historically been cyclical and sensitive to changes in economic conditions such as interest rates, credit availability, and unemployment
levels. Changes in these economic conditions could affect the assumptions used by management in preparing the accompanying financial
statements. |
| Fair Value Measurements | Fair Value Measurements The carrying amounts of
the Company’s cash and due to member approximate the fair value due to their short-term nature. | Fair Value Measurements The carrying amounts of the
Company’s cash, accounts payable and accrued expenses and due to member approximate the fair value due to their short-term
nature. |
| Income Taxes | Income Taxes The Company, with the
consent of its members, has elected to be treated as a partnership for federal income tax purposes. No provision for income taxes
has been made for the Company since such taxes, if any, are the responsibility of the individual members. The Company’s income
tax returns are subject to examination by taxing authorities. | Income Taxes The Company, with the consent
of its members, has elected to be treated as a partnership for federal income tax purposes. No provision for income taxes has
been made for the Company since such taxes, if any, are the responsibility of the individual members. The Company’s income
tax returns are subject to examination by taxing authorities. The Tax Cuts and Jobs Act of 2017
(the “ Act |
| Recent Accounting Pronouncements | Recent Accounting Pronouncement Revenue Recognition In May 2014, the FASB issued
Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU
2014-09 provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers
and supersedes most current revenue recognition guidance, including industry specific guidance. ASU 2014-09 requires an entity
to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to
which the entity expects to be entitled in exchange for those goods or services. This update creates a five-step model that requires
entities to exercise judgment when considering the terms of the contract(s) which include (i) identifying the contract(s) with
the customer, (ii) identifying the separate performance obligations in the contract, (iii) determining the transaction price, (iv)
allocating the transaction price to the separate performance obligations, and (v) recognizing revenue when each performance obligation
is satisfied. ASU 2020-05 deferred the effective date by one year and permitted early adoption of the standard, but not before
the original effective date; therefore, is effective for annual reporting periods beginning after December 15, 2019. The Company
adopted the amendments in this update on January 1, 2020. The adoption did not have a material impact on the Company’s consolidated
financial statements. | Recent Accounting Pronouncements In May 2014, the FASB issued
Accounting Standards Update (“ ASU ASU 2014-09 In August 2016, the FASB issued
ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments, or ASU 2016-15, which intends to reduce diversity in practice
in how certain transactions are classified in the statement of cash flows. ASU 2016-15 was effective for fiscal years and interim
periods beginning after December 15, 2017. Early adoption was permitted, including adoption in an interim period. The Company
adopted ASU 2016-15 on January 1, 2018, which did not have a material impact on our financial statements. |
| Reclassification | | Reclassification Certain amounts in the 2017
consolidated financial statements have been reclassified in order to conform to the 2018 presentation. |
| Variable Interest Entities | Variable Interest Entities The Company accounts
for variable interest entities in accordance with ASC 810, Consolidation (“ASC 810”). The Company determines whether
an entity in which the Company holds a direct or indirect variable interest is a VIE based on several factors. Under ASC 810,
a variable interest entity (“VIE”) is created when: (a) the equity investment at risk in the entity is not sufficient
to permit the entity to finance its activities without additional subordinated financial support provided by other parties, including
the equity holders; (b) the entity’s equity holders as a group either (i) lack the direct or indirect ability to make decisions
about the entity, (ii) are not obligated to absorb expected losses of the entity or (iii) do not have the right to receive expected
residual returns of the entity; or (c) the entity’s equity holders have voting rights that are not proportionate to their
economic interests, and the activities of the entity involve or are conducted on behalf of the equity holder with disproportionately
few voting rights. If an entity is deemed to be a VIE pursuant to ASC 810, the enterprise that has both (i) the power to direct
the activities of a VIE that most significantly impact the entity’s economic performance and (ii) the obligation to absorb
the expected losses of the entity or right to receive benefits from the entity that could be potentially significant to the VIE
is considered the primary beneficiary and must consolidate the VIE. The Company considers a
variety of factors with any investment in determination of a VIE and reconsiders such considerations continually. The Company will
consolidate any VIE where it is determined the Company is the primary beneficiary and disclose when the Company is not the primary
beneficiary, as well as disclose the maximum exposure to loss related to the VIE that is not consolidated. The Company uses the equity
method to account for investments in non-controlled joint ventures that qualify as VIE’s where the Company is the not the
primary beneficiary. Our involvement in the VIE noted in Note 2 is based on equal voting rights and therefore we have determined
that we are not the primary beneficiary and do not consolidate the VIE. Our share of the earnings from these equity-method basis
companies is included in consolidated net income. Our maximum exposure is equal to our investment in the unconsolidated joint venture
as shown on the balance sheet as investment in non-controlled joint ventures. | Variable Interest Entities The Company accounts for variable
interest entities in accordance with ASC 810, Consolidation (“ ASC 810 VIE The Company considers a variety
of factors with any investment in determination of a VIE and reconsiders such considerations continually. The Company will consolidate
any VIE where it is determined the Company is the primary beneficiary and disclose when the Company is not the primary beneficiary,
as well as disclose the maximum exposure to loss related to the VIE that is not consolidated. The Company uses the equity
method to account for investments in non-controlled joint ventures that qualify as VIE's where the Company is the not the primary
beneficiary. Our involvement in the VIE noted in Note 2 is based on equal voting rights and therefore we have determined that
we are not the primary beneficiary and do not consolidate the VIE. Our share of the earnings from these equity-method basis companies
is included in consolidated net income. Our maximum exposure is equal to our investment in the unconsolidated joint venture as
shown on the balance sheet as investment in non-controlled joint ventures. |
| Nature of Operations | Nature of Operations On January 5, 2016, an
Amended and Restated Limited Liability Company Agreement was executed for LS-Boston Point LLC (“the Company”), a Delaware
Limited Liability Company, between LS-PA Boston Point LLC (“Managing Member”) and PARE Fenway US LLC (“Investor
Member”), collectively “the Members”. As a limited liability company, the members have limited personal liability
for the obligations of the entity. The Company was formed for the purpose of investing in, through its interest in Fenway Point
Partners LLC, the Pierce Boston Development Project (“the Project”) located in Boston, Massachusetts. The Project is
a mixed-use construction project consisting of 109 for-sale apartment units, 240 rental apartment units, approximately 20,000 square
feet of retail space and a subterranean garage totaling approximately 79 parking spaces. On December 4, 2018, Fenway
Point Partners LLC distributed out the interest in its wholly owned subsidiary, Point Condo Holdings LLC, to its members. Immediately
thereafter, Fenway Point Partners LLC redeemed the partnership interest in Fenway Point Partners LLC from the Company (see Note
2). | Nature of Operations On January 5, 2016, an Amended and
Restated Limited Liability Company Agreement was executed for LS-Boston Point LLC (the “ Company Managing Member Investor
Member Members Project On December 4, 2018, Fenway
Point Partners LLC distributed out the interest in its wholly owned subsidiary, Point Condo Holdings LLC, to its members. Immediately
thereafter, Fenway Point Partners LLC redeemed the partnership interest in Fenway Point Partners LLC from the Company (see Note
2). |
| Impairment of Assets | Impairment of Assets The Company reviews its
investments in non-controlled joint ventures for indicators of impairment during each reporting period. The Company is subject
to risks incidental to the ownership, development, and sales of real estate. These include, among others, the risks normally associated
with changes in the general economic climate in the community in which the Company operates, trends in the real estate industry,
changes in tax laws, interest rate levels, availability of financing, and potential liability under environmental and other laws.
ASC 323-10, Investments – Equity Method and Joint Ventures, requires that a loss in value of the carrying amount of an investment
should be recognized by writing down the carrying amount of the investment to its fair value. During the year ended December
31, 2020, we recorded an impairment of $ 225,000 no | Impairment of Assets The Company reviews its investments
in non-controlled joint ventures for indicators of impairment during each reporting period. The Company is subject to risks incidental
to the ownership, development, and sales of real estate. These include, among others, the risks normally associated with changes
in the general economic climate in the community in which the Company operates, trends in the real estate industry, changes in
tax laws, interest rate levels, availability of financing, and potential liability under environmental and other laws. ASC 323-10,
Investments – Equity Method and Joint Ventures, requires that a loss in value of the carrying amount of an investment should
be recognized by writing down the carrying amount of the investment to its fair value. During the years ended December
31, 2018 and 2017, the Company concluded that no indicators of impairment were present and therefore no |
