Presidential Realty (PDNLA) 10-K/A 24 Sep 21 2020 FY Annual report (amended) Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Sep. 07, 2021	Jun. 30, 2020
Document Information Line Items
Entity Registrant Name	PRESIDENTIAL REALTY CORP/DE/
Document Type	10-K/A
Current Fiscal Year End Date	--12-31
Entity Public Float			$ 176,040
Amendment Flag	true
Amendment Description	This amendment No. 1 on Form 10-K/A (Amendment No. 1) is being filed to amend our Annual Report Form 10-K for the annual period ended December 31, 2020 (Original Filing), filed with the U.S. Securities and Exchange Commission on September 20, 2021 (Original Filing Date). The sole purpose of Amendment No. 1 is to correct a typographical error on the previously filed auditors report. Except as described above, no changes have been made to the Original filing, and this Amendment No. 1 does not modify, amend or update any other information contained in the Original Filing. This Amendment No. 1 does not reflect events that may have occurred subsequent to the Original Filing Date. Pursuant to Rule 12b-15 under the Securities Exchange Act of 1934, as amended, this Amendment No. 1 also contains the inclusion of the certifications required under Section 302 of the Sarbanes-Oxley Act of 2002 in Item 15 of Part IV. Because no financial statements have been included in this Amendment No. 1 and this Amendment No. 1 does not contain or amend any disclosure with respect to Items 307 and 308 of Regulation S-K, paragraphs 3, 4, and 5 of the certifications have been omitted. This Amendment No. 1 does not include new certifications under Section 906 of the Sarbanes-Oxley Act of 2002 because no financial statements are included in this Amendment No. 1.
Entity Central Index Key	0000731245
Entity Current Reporting Status	No
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Annual Report	true
Entity File Number	001-08594
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	No
Class A Common Stock
Document Information Line Items
Entity Common Stock, Shares Outstanding		442,533
Class B Common Stock
Document Information Line Items
Entity Common Stock, Shares Outstanding		4,746,147

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Real estate	$ 1,502,314	$ 1,392,866	$ 1,262,833	$ 1,205,602
Less: accumulated depreciation	843,239	788,999	739,679	692,489
Net real estate	659,075	603,867	523,154	513,113
Investment in Avalon Jubilee, LLC			82,975	4,247,977
Prepaid expenses	88,538	67,205	64,770	87,415
Other receivables (net of valuation allowance of $6,764 in 2020 and $860 in 2019)	41,202	20,466	25,494	12,730
Cash	206,112	185,358	126,380	98,158
Mortgage escrow	58,064	124,996	159,187	165,774
Other assets	5,291	5,267	5,294	95,868
Total Assets	1,058,282	1,007,159	987,254	5,221,035
Liabilities:
Mortgage payable, net	1,498,606	1,521,007	1,541,416	1,559,686
Accounts payable and accrued liabilities	328,623	283,479	230,531	136,403
Other liabilities	84,685	48,424	39,939	41,402
Total Liabilities	1,911,914	1,852,910	1,811,886	1,737,491
Mezzanine Equity
Presidential Realty Operating Partnership LP				4,276,901
Stockholders’ Deficit:
Additional paid-in capital	8,122,108	8,122,108	8,122,108	3,845,207
Accumulated deficit	(8,975,791)	(8,967,910)	(8,946,791)	(4,638,615)
Total Presidential stockholders’ deficit			(824,632)	(793,357)
Total Stockholders’ Deficit	(853,632)	(845,751)	(824,632)	(793,357)
Total Liabilities and Stockholders’ Deficit	1,058,282	1,007,159	987,254	5,221,035
Class A Common Stock
Stockholders’ Deficit:
Common stock value	4	4	4	4
Class B Common Stock
Stockholders’ Deficit:
Common stock value	$ 47	$ 47	$ 47	$ 47

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net of valuation allowance (in Dollars)	$ 6,764	$ 860	$ 450	$ 0
Class A Common Stock
Common stock, par value (in Dollars per share)	$ 0.00001	$ 0.00001	$ 0.00001	$ 0.00001
Common stock, shares authorized	700,000	700,000	700,000	700,000
Common stock, shares issued	442,533	442,533	442,533	442,533
Common stock, shares outstanding	442,533	442,533	442,533	442,533
Class B Common Stock
Common stock, par value (in Dollars per share)	$ 0.00001	$ 0.00001	$ 0.00001	$ 0.00001
Common stock, shares authorized	999,300,000	999,300,000	999,300,000	999,300,000
Common stock, shares issued	4,746,147	4,746,147	4,746,147	4,746,147
Common stock, shares outstanding	4,746,147	4,746,147	4,746,147	4,746,147

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues:
Rental	$ 1,017,613	$ 1,022,724	$ 970,779	$ 910,658
Total Revenue	1,017,613	1,022,724	970,779	910,658
Costs and Expenses:
General and administrative	213,540	183,408	232,337	347,487
Rental property:
Operating expenses	600,335	610,115	583,561	606,116
Interest expense and amortization of mortgage costs	112,739	115,293	117,431	119,277
Real estate taxes	44,671	42,817	43,136	41,948
Depreciation on real estate	54,240	49,320	47,190	45,719
Total Costs and Expenses	1,025,525	1,000,953	1,023,655	1,160,547
Other Income:
Other income		40,000
Other income less expenses				500,000
Unrealized loss		(82,975)	(4,255,383)	116,331
Investment income	31	85	83	926
Net (loss) income	(7,881)	(21,119)	(4,308,176)	367,368
Net (income) from non-controlling interest				(54,874)
Net (loss) income attributable to Presidential	$ (7,881)	$ (21,119)	$ (4,308,176)	$ 312,494
Net (loss) income per Common Share attributable to Presidential - basic (in Dollars per share)			$ (0.83)	$ 0.06
Net (loss) income per Common share attributable to Presidential - diluted (in Dollars per share)			$ (0.83)	$ 0.05
Net loss per Common Share - basic (in Dollars per share)	$ 0	$ 0
Net loss per Common Share - diluted (in Dollars per share)	$ 0	$ 0
Weighted Average Number of Shares Outstanding
basic (in Shares)	5,188,718	5,188,718	5,188,680	5,171,420
diluted (in Shares)	5,188,718	5,188,718	5,188,680	5,710,872

Consolidated Statements of Mezz

Consolidated Statements of Mezzanine Equity and Stockholders’ Deficit - USD ($)	REDEEMABLE NON-CONTROLLING INTEREST IN PRESIDENITAL REALTY OPERATING PARTNERSHIP LP	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2016		$ 42	$ 3,108,471	$ (4,951,109)	$ (1,842,596)
Stock based compensation		5	16,195		16,200
Stock issued for accrued director fees		$ 4	$ 10,796		$ 10,800
Forgiveness of executive compensation (in Shares)			709,745		709,745
Contribution of equity interest in Avalon Jubilee, LLC	$ 4,222,027
Net Income (loss)	54,874			312,494	312,494
Balance at Dec. 31, 2017	4,276,901	51	3,845,207	(4,638,615)	(793,357)
Net Income (loss)				(4,308,176)	(4,308,176)
Redemption of redeemable non-controlling interest in Presidential Realty Corporation Operating Partnership LP	(4,276,901)		4,276,901		4,276,901
Balance at Dec. 31, 2018		51	8,122,108	(8,946,791)	(824,632)
Net Income (loss)				(21,119)	(21,119)
Balance at Dec. 31, 2019		51	8,122,108	(8,967,910)	(845,751)
Balance at Dec. 31, 2019		51	8,122,108	(8,967,910)	(845,751)
Net Income (loss)				(7,881)	(7,881)
Balance at Dec. 31, 2020		$ 51	$ 8,122,108	$ (8,975,791)	$ (853,632)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017
Statement of Cash Flows [Abstract]
Net (loss) income	$ (7,881)		$ (21,119)		$ (4,308,176)		$ 367,368
Adjustments to reconcile net loss to net cash flow from operating activities:
Depreciation and amortization	69,972		65,052		62,923		61,451
Non-cash compensation							16,200
Bad debt recovery							(2,426)
Bad debt	8,697		1,710		450
Unrealized (gain) loss			82,975		4,255,383		(116,331)
Decrease (increase) in:
Other receivables	(29,433)		3,316		(13,214)		8,142
Prepaid expenses	(21,333)		(2,435)		22,645		3,198
Other assets	(24)		27		193		5
Increase (decreases) in:
Accounts payable and accrued liabilities	45,145		52,949		94,128		(216,776)
Other liabilities	(5,839)		8,485		(1,463)		(5,300)
Total adjustments	67,185		212,079		4,421,045		(251,837)
Net cash flow provided by operating activities	59,304		190,960		112,869		115,531
Cash Flows from Investing Activities:
Payments disbursed for capital improvements	(109,449)		(130,032)		(57,231)		(36,143)
Net cash flow (used in) investing activities	(109,449)		(130,032)		(57,231)		(36,143)
Cash Flows from Financing Activities:
Proceeds from PPP loan	42,100
Principal payments on mortgage debt	(38,133)		(36,141)		(34,003)		(31,991)
Net cash flow provided by (used in) financing activities	3,967		(36,141)		(34,003)		(31,991)
Net increase (decrease) in Cash and restricted cash	(46,178)		24,787		21,635		47,397
Cash and restricted cash, Beginning of Year	310,354	[1]	285,567	[2]	263,932	[2]	216,535
Cash and restricted cash, End of Year	264,176	[1]	310,354	[1]	285,567	[2]	263,932	[2]
Supplemental cash flow information:
Interest paid in cash	$ 97,006		$ 99,560		$ 101,699		103,711
Schedule of non-cash investing and financing activities
Issuance of stock as payment for accrued expenses							10,800
Officer forgiveness of accrued compensation							709,745
Contribution of Equity Interest in Avalon Jubilee, LLC							$ 4,222,027
[1]	This line item includes restricted cash of $58,064 and $124,996 at December 31, 2020 and 2019, respectively. these amounts are presented in the “mortgage escrow” caption on the accompanying consolidated balance sheets.
[2]	This line item includes restricted cash of $159,187 and $165,774 at December 31, 2018 and 2017, respectively. these amounts are presented in the “mortgage escrow” caption on the accompanying consolidated balance sheets.

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	1. Organization and Summary of Significant Accounting Policies Organization Presidential Realty Corporation (“Presidential” or the “Company”) is operated as a self-administrated, self-managed Real Estate Investment Trust (“REIT”). The Company is engaged principally in the ownership of income producing real estate. Presidential operates in a single business segment, investments in real estate related assets. Basis of Presentation The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and the requirements of the Securities and Exchange Commission (“SEC”). The financial statements include all normal and recurring adjustments that are necessary for a fair presentation of the Company’s financial position and operating results. Real Estate Real estate is stated at cost. Generally, depreciation is provided on the straight-line method over the assets estimated useful lives, which range from twenty to thirty-nine years for buildings and improvements and from three to ten years for furniture and equipment. Maintenance and repairs are charged to operations as incurred and renewals and replacements are capitalized. The Company reviews each of its property investments for possible impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairment of properties is determined to exist when estimated amounts recoverable through future operations on an undiscounted basis are below the properties carrying value. If a property is determined to be impaired, it is written down to its estimated fair value. As of December 31, 2020, 2019, 2018 and 2017, the Company did not identify any indicators of impairment. Principles of Consolidation The Company consolidates variable interest entities (VIEs) for which it is the primary beneficiary, generally as a result of having the power to direct the activities that most significantly affect the VIE’s economic performance and holding variable interest that convey to the Company the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The accompanying consolidated financial statements include the accounts of Presidential Realty Corporation and its wholly owned subsidiaries. Additionally, the consolidated financial statements include 100% of the account balance of Presidential Realty Operating Partnership LP (“Presidential OP”) on December 31, 2020, 2019 and 2018. On December 31, 2017 the Company owned a 52.83% general partnership interest in Presidential OP a VIE. All significant intercompany balances and transactions have been eliminated. Investments in Joint Venture The Company (through Presidential OP) has an equity investment in a joint venture and accounts for this investment using the fair value method of accounting. Revenue Recognition Rental revenues include revenues from the leasing of space at our Mapletree property, which primarily consist of monthly base rents in addition to the reimbursement of utilities. Other rental revenues, which are included as a component of rental revenue, primarily include fees related to build-out or other services performed by the Company on the property. The Company adopted ASU 2014-09, Revenue from Contracts with Customers (ASC 606) effective January 1, 2018, and its adoption did not have a material effect on the consolidated financial statements, as the majority of the Company’s revenue is recognized under ASC 840, Leases, Leases, The Company adopted ASU 2016-02, Leases (ASC 842) effective January 1, 2019, and its adoption did not have a material effect on the consolidated financial statements. As a lessor, the adoption of ASU 2016-02 (as amended by subsequent ASUs) did not change the timing of revenue recognition of the Company’s rental revenues. Revenues from the leasing of space at our property to tenants includes (i) lease components, including fixed and variable lease payments, and nonlease components which include reimbursement of electric expense and (ii) reimbursement of real estate taxes. As lessor, we have elected to combine the lease and nonlease components of our operating lease agreements and account for the components as a single lease component in accordance with ASC 842. Revenues derived from fixed lease payments are recognized on a straight-line basis over the non-cancelable period of the lease, together with renewal options that are reasonably certain of being exercised. We commence rental revenue recognition when the underlying asset is available for use by the lessee. Revenue derived from the reimbursement of real estate taxes and electric expense are generally recognized in the same period as the related expenses are incurred, which did not change as a result of the adoption of ASU 2016-02. The Company assesses the collectability of lease receivables (including future minimum rental payments) both at commencement and throughout the lease term. If our assessment of collectability changes during the lease term, any difference between the revenue that would have been received under the straight-line method and the lease payments that have been collected will be recognized as a current period adjustment to rental revenue. Rental revenue associated with leases where collectability has been deemed less than probable is recognized on a cash basis in accordance with ASC 842. Allowance for Doubtful Accounts The Company assesses the collectability of amounts due from tenants and other receivables, using indicators such as past-due accounts, the nature and age of the receivable, the payment history and the ability of the tenant or debtor to meet its payment obligations. Management’s estimate of allowances for doubtful accounts is subject to revision as these factors change. Any subsequent recovery of tenant receivable that were previously reserved is recorded as a reduction in the allowance of bad debt. As of December 31, 2020, 2019, 2018 and 2017, the allowance relating to tenant receivables was $6,764, $860, $450 and $0, respectively. Net Income (Loss) Per Share Basic net income (loss) per share data is computed by dividing net Income (loss) by the weighted average number of shares of Class A and Class B common stock outstanding (excluding non-vested shares) during each period. Diluted net income (loss) per share is computed by dividing net income by the weighted average shares outstanding, including the dilutive effect, if any, of non-vested shares. For the years ended December 31, 2020, 2019 and 2018 the weighted average shares outstanding as used in the calculation of diluted loss per share do not include 550,000, of outstanding stock options, as their inclusion would be antidilutive. Cash and cash equivalents Cash includes cash on hand, cash in banks and cash in money market funds. Cash equivalents represent short-term, highly liquid investments which are readily convertible to cash and have maturities of three months or less. Management Estimates The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated balance sheets and the reported amounts of income and expense for the reporting period. Actual results could differ from those estimates. Accounting for Stock Awards The Company recognizes the cost of employee and non-employee services received in exchange for awards of equity instruments as stock-based compensation expense. Stock-based compensation expense is measured at the grant date based on the fair value of the stock award and options, and is recognized as an expense, less expected forfeitures, over the requisite service period, which typically equals the vesting period. Stock-based compensation expense for the years ended December 31, 2020, 2019, 2018 were $0 and $16,800 for 2017. Accounting for Income Taxes The Company accounts for income taxes utilizing the asset and liability approach requiring the recognition of deferred tax assets and liabilities for the expected future tax consequences of net operating loss carryforwards and temporary differences between the basis of assets and liabilities for financial reporting purposes and tax purposes and for net operating loss and other carryforwards. A valuation allowance is provided for deferred tax assets based on the likelihood of realization. The Company recognizes the benefit of an uncertain tax position that it has taken or expect to take on income tax returns it files if such tax position is more likely than not to be sustained on examination by the taxing authorities, based on the technical merits of the position. These tax benefits are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The Company operates in multiple tax jurisdictions within the United States of America. The Company remains subject to examination in all tax jurisdictions until the applicable statutes of limitation expire. As of December 31, 2020, the tax years after 2017 remain subject to examination. The Company did not record unrecognized tax positions for the years ended December 31, 2020, 2019, 2018 or 2017. Mortgage costs The Company amortizes mortgage costs over the life of the loan. Recent Accounting Pronouncements adopted In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers In January 2016, the FASB issued an update (“ASU 2016-01”) Recognition and Measurement of Financial Assets and Financial Liabilities Financial Instruments In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) (“ASU 2016-02”), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. ASU 2016-02 supersedes the previous leases standard, Leases (Topic 840). The Company adopted this standard effective January 1, 2019, and its adoption did not have a material effect on the consolidated financial statements. As a lessor, the adoption of ASU 2016-02 (as amended by subsequent ASUs) did not change the timing of revenue recognition of the Company’s rental revenues. In November 2016, the FASB issued ASU Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The new standard requires that the statement of cash flows explain the change during the period in the combined total of cash, cash equivalents, and amounts generally described as restricted cash equivalents. Entities will also be required to reconcile such total to amounts on the balance sheet and disclose relevant information about the nature of the restrictions on the basis of their individual facts and circumstances. The Company adopted this standard effective January 1, 2017 using the retrospective approach. The adoption of this update did not have a material effect on the consolidated balance sheets, consolidated statements of operation or net Income (loss). The amounts included in restricted cash represent the escrows of, real estate tax, insurance and other reserve escrows required to be held by the lender in accordance with the Company’s mortgage agreement. In August 2018, the FASB issued ASU 2018-13, Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Real Estate	2. Real Estate Real estate is comprised of the following: December 31, December 31, December 31, December 31, Land $ 79,100 $ 79,100 $ 79,100 $ 79,100 Buildings 1,360,460 1,251,012 1,125,801 1,068,684 Furniture and equipment 62,754 62,754 57,932 57,818 Total $ 1,502,314 $ 1,392,866 $ 1,262,833 $ 1,205,602 Rental revenue is from our Mapletree Property which constituted all of the rental revenue for the Company for the years ended December 31, 2020, 2019, 2018 and 2017.

Investment in Partnership

Investment in Partnership	12 Months Ended
	Dec. 31, 2020
Investment In Partnership [Abstract]
Investment in Partnership	3. Investment in Partnership On December 16, 2016, the Company and its newly formed operating partnership, Presidential OP, entered into an interest contribution agreement (the “Initial Agreement”) with First Capital Real Estate Trust Incorporated (“FC REIT”), First Capital Real Estate Operating Partnership (the “FC OP”), Township Nine Owner, LLC (T9/JV), Capital Station Holdings, LLC, Capital Station Member, LLC, Capital Station 65 LLC and Avalon Jubilee LLC. On January 6, 2017, the Company and the other parties to the Initial Agreement entered into the First Amendment to the Initial Agreement (the “Amendment,” and, together with the Initial Agreement, the “Agreement”) and FC OP entered into the Agreement of Limited Partnership (the “Limited Partnership Agreement”) of Presidential OP, as limited partner, with the Company as general partner. The Agreement contemplated that Presidential OP would acquire from FC OP a 31.3333% interest in the owner of a residential community referred to as the “Avalon Property” (as defined below) and 66% (the “T9 Transferred Interest”) of FC OP’s 92% interest (FC/T9 Interest) in the owner of a development property known as the “T9 Property.” The purchase price for the interests was to be payable in limited partnership interests in Presidential OP (“Presidential OP Units”) convertible under certain conditions into shares of the Company’s Class B common stock or redeemable for cash at the Company’s discretion. Presidential OP’s acquisition of the interest in the Avalon Property was completed on January 6, 2017. The Avalon Property consisted of 251 non-contiguous single-family residential lots, at various stages of development, within the Jubilee at Los Lunas subdivision located in Los Lunas, New Mexico (the “Avalon Property”). At the Closing, in exchange for the contribution to Presidential OP of FC OP’s membership interests in the Avalon Property, FC OP received 4,632,000 Presidential OP Units in, and became a limited partner of, Presidential OP. Such limited partnership interests were convertible, upon the satisfaction of certain conditions, into shares of Class B common stock of the Company on a one-for-one basis or redeemable into cash at the Company’s discretion. Presidential OP never completed its acquisition of the T9 Property from FC OP and all agreements related to the acquisition and transfer of the interests in the property were canceled. In connection with the Closing, FC REIT paid $800,000 to Presidential to be used as operating capital, of which $300,000 was used for direct fees in connection with the transaction. The Company recorded this payment as other income in 2017. The agreements also provided that FC REIT would contribute additional working capital for the seamless integration of the FC REIT properties, up listing of the Company on a national securities exchange and asset growth plans as conditions precedent to the closing of the Agreement. FC REIT did not provide the required working capital to complete these activities. All the agreements relating to the FC REIT transactions entered into in 2016 and 2017 were considered terminated due to the lack of performance by FC REIT except the 31.3333% ownership interest in the Avalon Property. On March 21, 2018 FC OP redeemed its 4,632,000 shares of Presidential OP Units in exchange for $90,381 previously owed to Presidential from FC REIT. Upon the redemption of the Presidential OP Units the Presidential OP Partnership was terminated pursuant to the terms of the Limited Partnership Agreement and Presidential retained the 31.3333% interest in the Avalon Property. The Company believes that it does not have any further obligations to FC REIT or any other parties in connection with the Agreement due to the lack of contractual performance by FC REIT, numerous closing conditions precedent in the Agreement not being met, and the balance of transactions contemplated in the Agreement not being completed. On January 6, 2017 Presidential OP recorded the fair value of their interest in Avalon Jublee LLC at $4,222,027 based on the appraised value of the property under the assumptions that the partnership would be building and selling single-family homes. In 2018 the managing member in the Avalon Property changed their focus from building and selling single-family homes to improving and selling developed lots. The change in strategy has significantly impaired our investment. (See Note 8 for changes in fair value) Based on the redemption features associated with FC OP’s limited partnership interest in Presidential OP, the non-controlling interest of FC OP’s interest is reported as mezzanine equity. The redemption feature allowed FC OP to redeem their interest in Presidential OP one year after their initial contribution whereby such interest could be redeemed in full or partial through the settlement of cash or issuance of the Company’s Class B Common Stock, based solely on the Company’s discretion. The Company has elected to adjust the non-controlling interest to the redemption amount at each balance sheet date. As of December 31, 2017, the redemption amount of the non-controlling interest was less than the initial carrying value adjusted for the portion of net income allocated to the non-controlling interest for the year-end December 31, 2017 and as such, the non-controlling interest is reported at its carrying amount. On December 31, 2020 the Avalon Property consisted of 34 finished, single-family subdivision lots and approximately 21.42 acres of subsequent phases of undeveloped land in Los Lunas, New Mexico. As of December 31, 2020, we owned a 31.3333% interest in Avalon Jublee, LLC partnership with an aggregate fair value of $-0-. The Company has elected the fair value option versus accounting under the equity method as the fair value better represents the Company’s realization of this investment. Summary financial information for Avalon Property (31.3333% owned) accounted for by the fair value method is as follows: December 31, 2020 2019 2018 2017 Condensed balance sheet Cash $ 114,223 $ 613,185 $ 199,350 $ 236,390 Accounts receivable 394,158 1,240,483 56,350 34,886 Inventory 2,266,107 455,922 2,024,410 2,552,846 Fixed assets net 320 534 748 1,047 Other assets 68,690 133,240 165,147 276,319 Total assets $ 2,843,498 $ 2,443,364 $ 2,446,005 $ 3,101,488 Accounts payable $ 1,054,716 $ 513,022 $ 702,310 $ 434,369 Other liabilities 378,563 922,698 733,790 235,152 Loans from partners 320,000 110,000 - - Mortgages 485,104 495,120 260,104 575,000 Partners’ capital 605,115 402,524 749,801 1,856,967 Total liabilities and capital $ 2,843,498 $ 2,443,364 $ 2,446,005 $ 3,101,488 Condensed statement of operations Gross receipts $ 554,692 $ 5,935,519 $ 3,163,118 $ 6,020,120 Cost of goods sold 281,932 5,316,116 3,000,965 4,223,171 Gross profit 272,760 619,403 162,153 1,796,949 Other expenses (income) 262,263 966,680 1,074,530 1,375,532 Net income (loss) $ 10,497 $ (347,277 ) $ (912,377 ) $ 421,417 Net income (loss) attributed to Presidential Realty Corporation $ 3,289 $ (108,813 ) $ (285,878 ) $ 132, 044

Mortgage Debt

Mortgage Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Mortgage Debt	4 Mortgage Debt On July 28, 2015, Palmer-Mapletree LLC, a wholly-owned subsidiary of the Company entered into a Loan Agreement (the “Loan Agreement”) with Natixis Real Estate Capital LLC providing for a mortgage loan in the principal amount of $1,750,000 (the “Loan”) at an interest rate of 6.031%. $934,794 of the loan proceeds were used to repay the prior mortgage loan and line of credit on the Mapletree Property. $123,757 of the Loan proceeds was set aside for capital improvements and reserves for the property. We received net proceeds of $585,125. The Loan matures on August 5, 2025 and requires monthly principal and interest payments of $11,308 and escrows for insurance, taxes and capital improvements. Escrow balances are considered restricted cash. The mortgage is presented net of unamortized mortgage costs, the outstanding balance of the loan and loan costs was as follows: Mortgage Unamortized Interest Balance mortgage Costs Expense December 31, 2020 $ 1,570,383 $ 71,777 $ 97,006 December 31, 2019 $ 1,608,516 $ 87,509 $ 99,560 December 31, 2018 $ 1,644,657 $ 103,241 $ 101,699 December 31, 2017 $ 1,678,660 $ 118,974 $ 103,544 The Company is required to maintain certain financial covenants. The Company was in compliance with the covenants on December 31, 2020, 2019, 2018 and 2017. Maturities of Mortgage payments for the next five years are as follows: 2021 $ 42,737 2022 $ 45,386 2023 $ 48,201 2024 $ 51,189 2025 $ 1,382,870 Thereafter $ 0

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	5. Income Taxes Presidential has elected to qualify as a Real Estate Investment Trust under the Internal Revenue Code. A REIT which distributes at least 90% of its real estate investment trust taxable income to its shareholders each year by the end of the following year and which meets certain other conditions will not be taxed on any of its taxable income as long as they distribute the required amounts to its shareholders. ASC 740 prescribes a more likely than not recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken. If the Company’s tax position in relation to a transaction was not likely to be upheld, the Company would be required to record the accrual for the tax and interest thereon. As of December 31, 2020, the tax years that remain open to examination by the federal, state, and local taxing authorities are the 2017 – 2020 tax years and the Company was not required to accrue any liability for those tax years. The Company has accumulated a net operating loss carry forward of approximately $21,038,000. These net operating losses may be available in future years to reduce taxable income when and if it is generated. These loss carryforwards begin to expire in 2027 and are available to offset 100% of taxable income. Net operating losses generated in 2018 and thereafter will be available to offset 80% of taxable income beginning in 2021. Under the Cares Act, taxpayers with NOLs arising in tax years beginning in 2018, 2019 and 2020 can carry them back five years. For the year ended December 31, 2020, the Company had a taxable income of approximately $46,000 ($.00 per share), before utilization of net operating loss carry forwards, which was all ordinary income. For the year ended December 31, 2019, the Company had taxable income of approximately $123,000 ($.02 per share), before utilization of net operating loss carry forwards, which was all ordinary income. For the year ended December 31, 2018, the Company had a taxable income of approximately $89,000 ($.02 per share), before utilization of net operating loss carry forwards, which was all ordinary income. For the year ended December 31, 2017, the Company had taxable losses of approximately $481,000 ($.09 per share), which was all ordinary loss.

Commitments, Contingencies, Con

Commitments, Contingencies, Concentrations and Related parties	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies, Concentrations and Related parties	6. Commitments, Contingencies, Concentrations and Related parties A) Related Parties 1) Executive Employment Agreements Nickolas W. Jekogian III Alexander Ludwig Mr. Ludwig’s employment agreement, as amended, expired on December 31, 2015 but the board agreed to continue Mr. Ludwig’s employment on the same terms as the agreement until otherwise terminated by the board. On January 6, 2017 as part of the First Capital transaction the Company and Mr. Ludwig our President and Chief Operating Officer, entered into a Cancellation and Release Agreement for the cancellation of all stock options and warrants held by Mr. Ludwig as of such date in consideration for the issuance of (x) 450,000 shares of Class B common stock of the Company and (y) an option to purchase an additional 550,000 shares of Class B common stock of the Company. The exercise of such option is subject to certain conditions, including that the Company has consummated an equity offering, capital raise or such other offering such that the issuance of any shares of Class B common stock of the Company covered by Mr. Ludwig’s option would not be deemed “Excess Shares” as that term is defined in the certificate of incorporation of the Company. The exercise price is $0.00. The Company has not recognized any share-based compensation associated with this award based on the contingent performance condition which is not probable of occurring. In June of 2017, the Board of Directors notified Mr. Ludwig that due to financial constraints on the company that he would no longer be receiving his salary. 2) Property Management Agreement On November 8, 2011, the Company and Signature Community Management LLC (“Signature”), (an entity owned by our CEO) entered into a Property Management Agreement pursuant to which the Company retained Signature as the exclusive, managing and leasing agent for the Company’s Mapletree Property. Signature receives compensation of 5% of monthly rental income actually received from tenants at the Mapletree Property. The Property Management Agreement renewed for a one-year term on November 8, 2020 and will automatically renew for one-year terms until it is terminated by either party upon written notice. The Company incurred management fees of $40,291, $41,982, $38,187, and $37,342 for the years ended December 31, 2020, 2019, 2018 and 2017, respectively. The balance unpaid to Signature at December 31, 2020, 2019, 2018 and 2017 for management fees was $47,170, $38,861, $5,625 and $3,714, respectively. 3) Asset Management Agreement On November 8, 2011, the Company entered into an Asset Management Agreement with Signature Community Investment Group LLC (“SCIG”), (an entity owned by our CEO) pursuant to which the Company engaged SCIG to oversee the Mapletree Property. SCIG receives an asset management fee of 1.5% of the monthly gross rental revenues collected for the Mapletree Property. The Asset Management Agreement renewed for a one-year term on November 8, 2020 and will automatically renew for one-year terms until it is terminated by either party upon written notice. The Company incurred asset management fees of $12,090, $12,594, $11,225, and $11,203 for the years ended December 31, 2020, 2019, 2018 and 2017, respectively. The balance unpaid to SCIG at December 31, 2020, 2019, 2018 and 2017 for asset management fees was $24,482, $20,787, $1,687 and $1,114, respectively. 4) Sublease On September 22, 2016 the Company signed a new sublease for their executive office space under a month to month lease with Nexelus for a monthly rental payment of $1,500 or $18,000 per year. The lease was terminated November 30, 2017. The Company incurred total rent of $16,500 for the year ended December 31, 2017. B) Legal Proceedings In the ordinary course of business, we may be subject to litigation from time to time. Except as discussed below, there is no current, pending or, to our knowledge, threatened litigation or administrative action to which we are a party or of which our property is the subject (including litigation or actions involving our officers, directors, affiliates, or other key personnel, or holders of record or beneficially of more than 5% of any class of our voting securities, or any associate of such party) which in our opinion has, or is expected to have, a material adverse effect upon our business, prospects, financial condition or operations. There is pending in the Supreme Court of the state of New York county of New York (Index No. 656191/2017) an action entitled MLF3 NWJ LLC filed in October of 2017, against Nickolas W. Jekogian, III, Presidential Realty Corporation, Presidential Realty Operating Partnership LP, First Capital Real Estate Trust Incorporated, First Capital Real Estate Operating Partnership, Nickolas W. Jekogian, JR. as trustee of The BBJ Family Irrevocable Trust, Alexander Ludwig, Signature Group Advisors LLC, Richard Brandt, Marjorie Feder as Executrix of the Estate of Robert Feder, Jeffrey F. Joseph, Jeffrey Rogers. The litigation is related to actions taken by Mr. Jekogian individually on a real estate project and personal guarantee that predated his involvement with the Company. The Plaintiff had received a judgment against Mr. Jekogian for approximately $1,500,000, in addition to attorneys’ fees, and had filed a lien on assets owned individually by Mr. Jekogian including certain options and warrants to purchase stock in the Company. When the Company entered into the Contribution Agreement with FC REIT in January of 2017, Mr. Jekogian surrendered these options and warrants to purchase stock in the Company as part of the transaction. The Plaintiff is arguing that they had a lien on Mr. Jekogian’s options and warrants in the Company and that the actions taken by the Company, its Officers and Directors, in entering into the Contribution Agreement with FC REIT fraudulently conveyed their interests in the options and warrants owned by Mr. Jekogian and damaged their position. The Company, its Officers and Directors, named in this action had no involvement in this personal matter relating to Mr. Jekogian and answered the complaint in February of 2018 stating that it had no merit. Since that time, the Company has received no additional notification that the action against the Company, its Officers and Directors is moving forward. The Company believes that as to the Company, Officers and Directors, the claims have no merit. C) Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash. Three customers accounted for approximately 12%, 19% and 24% of the Company’s accounts receivable as of December 31, 2020. Three customers accounted for approximately 11%, 19% and 30% of the Company’s accounts receivable as of December 31, 2019. Two customers accounted for approximately 14% and 44% of the Company’s accounts receivable as of December 31, 2018. One customer accounted for approximately 82% of the Company’s accounts receivable as of December 31, 2017. The Company generally maintains its cash in money market funds with financial institutions. Although the Company may maintain balances at these institutions in excess of the FDIC insurance limit, the Company does not anticipate and has not experienced any losses. D) Other In December 2019, the Novel Corona Virus, COVID-19 was reported to have emerged in Wuhan, China. In March 2020, the World Health Organization (“WHO”) declared the COVID-19 outbreak a global pandemic. The extent of the impact of the pandemic on the Company’s business, financial condition, liquidity, result of operations will depend on future developments, which are highly uncertain and cannot be predicted.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2020
Common Stock [Abstract]
Common Stock	7. Common Stock The Class A and Class B common stock of Presidential has identical rights except that the holders of Class A common stock are entitled to elect two-thirds of the Board of Directors and the holders of the Class B common stock are entitled to elect one-third of the Board of Directors.

Warrants

Warrants	12 Months Ended
	Dec. 31, 2020
Warrants [Abstract]
Warrants	8. Warrants The Company issued to Mr. Nicholas W. Jekogian III our CEO a Warrant in January 2014 to purchase 1,700,000 shares of the Company’s Class B Common Stock at an exercise price of $0.10 per share in exchange for the complete cancellation of $425,000 of deferred compensation accrued under Mr. Jekogian’s employment agreement On January 6, 2017, as part of the First Capital transaction Mr. Jekogian entered into a Cancellation and Release Agreement for the cancellation of all stock options and warrants held by Mr. Jekogian as of such date, and termination of his Employment Agreement effective as of such date.

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	9. Stock-based Compensation On August 15, 2012 the stockholders approved the 2012 Incentive Plan which reserves 1,000,000 shares of Class B common stock for distribution to executive officers (including executive officers who are also directors), employees, directors, independent agents, consultants and attorneys in accordance with the 2012 Plan’s terms. The 2012 Plan provides for the grant of any or all of the following types of awards (collectively, “Awards”): (a) stock options and (b) restricted stock. Awards may be granted singly, in combination, or in tandem, as determined by the Compensation Committee. The maximum number of shares of Class B common stock with respect to which incentive stock options may be granted to any one individual in any calendar year shall not exceed $100,000 in fair market value as determined at the time of grant. If any outstanding Award is canceled, forfeited, delivered to us as payment for the exercise price or surrendered to us for tax withholding purposes, shares of Class B common stock allocable to such Award may again be available for Awards under the 2012 Incentive Plan. On January 6, 2017, each of the, non-management directors of the Company, and a former non-management director of the Company, entered into Issuance and Release Agreements for the issuance of an aggregate of 450,000 shares of Class B common stock of the Company in consideration of the release of the Company’s obligations to pay director’s fees of $10,800 for the years ended December 31, 2016 and 2015, and 90,000 shares were issued to the current directors for their services in connection with the FC REIT transaction in the amount of $2,700, which was recorded as stock based compensation. On January 6, 2017, the Company issued Mr. Ludwig 450,000 shares of Class B common stock of the Company and an option to purchase an additional 550,000 shares of Class B common stock of the Company. The Company recorded stock-based compensation of $13,500 for the 450,000 shares of Class B common stock issued during the year ended December 31, 2017. (See Note 6A) No additional stock-based compensation has been recognized associated with the additional 550,000 options, as such options contain a conditional performance condition which is not probable of occurring. The following summarizes the outstanding and vested stock option activity as of December 31, 2020, 2019, 2018 and 2017: Shares Weighted Weighted Outstanding at December 31, 2016 740,000 $ 1.25 5 Granted 550,000 $ 0.00 10 Forfeited and expired (740,000 ) $ 1.25 Outstanding at December 31, 2017 550,000 $ 0.00 9 Granted - - Forfeited and expired - - Outstanding at December 31, 2018 550,000 $ 0.00 8 Granted - - Forfeited and expired - - Outstanding at December 31, 2019 550,000 $ 0.00 7 Granted - - Forfeited and expired - - Outstanding at December 31, 2020 550,000 $ 0.00 6

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	10. Fair Value Measurements ASC 820 defines fair value and establishes a framework for measuring fair value. The objective of fair value is to determine 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 exit price). The standards generally require the use of one or more valuation techniques that include the market, income or cost approaches. The standards also establish market or observable inputs as the preferred source of values when using such valuation techniques, followed by assumptions based on hypothetical transactions in the absence of market ASC 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 – quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable and Level 3 – unobservable inputs that are used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurements. In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as consider counterparty credit risk in our assessment of fair value. Considerable judgment is necessary to interpret Level 2 and 3 inputs in determining the fair value of our financial and non-financial assets and liabilities. Accordingly, our fair value estimates, which are made at the end of each reporting period, may be different than the amounts that may ultimately be realized upon sale or disposition of these assets. Non-Financial Assets Measured at Fair Value on a Recurring Basis The Non-Financial asset that is measured at fair value on our consolidated balance sheets consists of a real estate partnership investment. The tables below aggregate the fair values of the non-financial assets by their levels in the fair value hierarchy. As of December 31, 2020 Total Level 1 Level 2 Level 3 Investment in Avalon Jubilee, LLC $ - $ - $ - $ - As of December 31, 2019 Total Level 1 Level 2 Level 3 Investment in Avalon Jubilee, LLC $ - $ - $ - $ - As of December 31, 2018 Total Level 1 Level 2 Level 3 Investment in Avalon Jubilee, LLC $ 82,975 $ — $ — $ 82,975 As of December 31, 2017 Total Level 1 Level 2 Level 3 Investment in Avalon Jubilee, LLC $ 4,247,977 $ — $ — $ 4,247,977 Investment in Avalon Jubilee, LLC Significant unobservable quantitative inputs used in determining the fair value of each investment include capitalization rates and discount rates. These rates are based on the location, type and nature of each property, current and anticipated market conditions, and industry publications. Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of the real estate partnership investment. Range Range December 31, December 31, December 31, December 31, Unobservable Quantitative Input Discount rates 16% to 20% 18% to 22% 18% to 22% 15% The inputs above are subject to change based on changes in economic and market conditions and/or changes in use or timing of exit. Changes in discount rates and terminal capitalization rates result in increases or decreases in the fair values of the investment. The discount rates encompass, among other things, uncertainties in the valuation models with respect to terminal capitalization rates and the amount and timing of cash flows. Therefore, a change in the fair value of the investment resulting from a change in the terminal capitalization rate may be partially offset by a change in the discount rate. It is not possible for us to predict the effect of future economic or market conditions on our estimated fair values. The table below summarizes the changes in the fair value of real estate investments that are classified as Level 3. For the Year Ended December 31, 2020 2019 2018 2017 Beginning Balance $ -0- $ 82,975 $ 4,247,977 $ -0- Net unrealized gain(loss) on held investment -0- (82,975 ) (4,255,383 ) 116,331 Purchase /additional funding -0- -0- 90,381 4,131,646 Ending balance $ -0- $ -0- $ 82,975 $ 4,247,977 The carrying amounts of cash and cash equivalents, escrow, deposits and other assets and receivables and accrued expenses and other liabilities are not measured at fair value on a recurring basis, but are considered to be recorded at amounts that approximate fair value. At December 31, 2020, the $1,675,296 estimated fair value of the Company’s mortgage payable is greater than the $1,570,383 carrying value (before unamortized deferred financing costs by approximately $71,777), assuming a blended market interest rate of 4.34% based on the 4.8 year remaining term to maturity of the mortgage. At December 31, 2019, the $1,689,668 estimated fair value of the Company’s mortgage payable is greater than the $1,608,516 carrying value (before unamortized deferred financing costs by approximately $87,509), assuming a blended market interest rate of 4.93% based on the 5.8 year remaining term to maturity of the mortgage. At December 31, 2018, the $1,765,519 estimated fair value of the Company’s mortgage payable is greater than the $1,644,657 carrying value (before unamortized deferred financing costs by approximately $103,241), assuming a blended market interest rate of 4.62% based on the 6.8 year remaining term to maturity of the mortgage. At December 31, 2017, the $1,840,294 estimated fair value of the Company’s mortgage payable is greater than the $1,678,660 carrying value (before unamortized deferred financing costs by approximately $118,974), assuming a blended market interest rate of 4.41% based on the 7.8 year remaining term to maturity of the mortgage. The fair value of the Company’s mortgage payable is estimated using unobservable inputs such as available market information and discounted cash flow analysis based on borrowing rates the Company believes it could obtain with similar terms and maturities. These fair value measurements fall within Level 3 of the fair value hierarchy. Considerable judgment is necessary to interpret market data and develop estimated fair value. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.

Loans Payable

Loans Payable	12 Months Ended
	Dec. 31, 2020
Loans Payable [Abstract]
Loans payable	11. Loans payable 2020 Paycheck Protection Program Term Note In April 2020, the Company entered into a Paycheck Protection Program Term Note (the “PPP Note”) with CountryBank in the amount of $42,100. The PPP Note was issued to the Company pursuant to the Coronavirus, Aid, Relief, and Economic Security Act’s (the “CARES Act”) (P.L. 116-136) Paycheck Protection Program (the “Program”). Under the Program, all or a portion of the PPP Note may be forgiven in accordance with the Program requirements. The PPP Note carries a maturity date of April 2022, at a 1% interest rate. No payments are required for six months from the date of issuance. The amount of the forgiveness shall be calculated (and may be reduced) in accordance with the requirements of the Program, including the provisions of the CARES Act. No more than 25% of the amount forgiven can be attributable to non-payroll costs, as defined in the Program. On July 21, 2021 we were notified that the SBA had forgiven the PPP Note in full, the amount will be recorded as other income in 2021. The balance at December 31, 2020 was $42,100 and was included in Other Liabilities on the consolidated balance sheet.

Restricted Cash

Restricted Cash	12 Months Ended
	Dec. 31, 2020
Cash and Cash Equivalents [Abstract]
Restricted Cash	12. Restricted Cash Restricted cash represents funds held for specific purposes and are therefore not available for general corporate purposes. The mortgage escrow reflected on the consolidated balance sheets represents funds that are held by the Company specifically for capital improvements, insurance and real estate taxes on the Mapletree Property.

Future Minimum Annual Base Rent

Future Minimum Annual Base Rents	12 Months Ended
	Dec. 31, 2020
Future Minimum Annual Base Rents [Abstract]
Future Minimum Annual Base Rents	13. Future Minimum Annual Base Rents Future minimum annual base rental revenue for the next five years for commercial real estate owned at December 31, 2020, and subject to non-cancelable operating leases is as follows: Year Ending December 31, 2021 590,089 2022 265,341 2023 143,926 2024 75,536 2025 75,536 Thereafter 12,589 Total $ 1,163,017

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (unaudited)	14. Selected Quarterly Financial Data (unaudited) A summary of the quarterly operating results during the Quarter ended March 31, 2021 and 2020 and June 30, 2021 and 2020. Quarterly Financial Data - Unaudited March 31, June 30, Statement of Operations 2021 2021 Total revenue $ 256,204 $ 517,175 Costs and expenses $ 274,116 $ 507,506 Other Income $ - $ - Net Income (loss) $ (17,912 ) $ 9,669 Net Income (loss) per share: Basic $ (0.00 ) $ 0.00 Diluted $ (0.00 ) $ 0.00 Weighted average common shares outstanding: Basic 5,188,718 5,188,718 Diluted 5,188,718 5,738,718 Balance Sheet Total Assets $ 1,061,965 $ 1,102,168 Total Liabilities $ 1,930,309 $ 1,942,930 Stockholder’s deficit $ (868,344 ) $ (840,762 ) Quarterly Financial Data - Unaudited March 31, June 30, Statement of Operations 2020 2020 Total revenue $ 269,227 $ 526,522 Costs and expenses $ 253,325 $ 504,378 Other Income - - Net Income (loss) $ 15,902 $ 22,144 Net Income (loss) per share: Basic $ 0.00 $ 0.00 Diluted $ 0.00 $ 0.00 Weighted average common shares outstanding: Basic 5,188,718 5,188,718 Diluted 5,738,718 5,738,718 Balance Sheet Total Assets $ 990,038 $ 1,044,445 Total Liabilities $ 1,816,688 $ 1,864,853 Stockholder’s deficit $ (826,650 ) $ (820,408 )

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Organization	Organization Presidential Realty Corporation (“Presidential” or the “Company”) is operated as a self-administrated, self-managed Real Estate Investment Trust (“REIT”). The Company is engaged principally in the ownership of income producing real estate. Presidential operates in a single business segment, investments in real estate related assets.
Basis of Presentation	Basis of Presentation The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and the requirements of the Securities and Exchange Commission (“SEC”). The financial statements include all normal and recurring adjustments that are necessary for a fair presentation of the Company’s financial position and operating results.
Real Estate	Real Estate Real estate is stated at cost. Generally, depreciation is provided on the straight-line method over the assets estimated useful lives, which range from twenty to thirty-nine years for buildings and improvements and from three to ten years for furniture and equipment. Maintenance and repairs are charged to operations as incurred and renewals and replacements are capitalized. The Company reviews each of its property investments for possible impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairment of properties is determined to exist when estimated amounts recoverable through future operations on an undiscounted basis are below the properties carrying value. If a property is determined to be impaired, it is written down to its estimated fair value. As of December 31, 2020, 2019, 2018 and 2017, the Company did not identify any indicators of impairment.
Principles of Consolidation	Principles of Consolidation The Company consolidates variable interest entities (VIEs) for which it is the primary beneficiary, generally as a result of having the power to direct the activities that most significantly affect the VIE’s economic performance and holding variable interest that convey to the Company the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The accompanying consolidated financial statements include the accounts of Presidential Realty Corporation and its wholly owned subsidiaries. Additionally, the consolidated financial statements include 100% of the account balance of Presidential Realty Operating Partnership LP (“Presidential OP”) on December 31, 2020, 2019 and 2018. On December 31, 2017 the Company owned a 52.83% general partnership interest in Presidential OP a VIE. All significant intercompany balances and transactions have been eliminated.
Investments in Joint Venture	Investments in Joint Venture The Company (through Presidential OP) has an equity investment in a joint venture and accounts for this investment using the fair value method of accounting.
Revenue Recognition	Revenue Recognition Rental revenues include revenues from the leasing of space at our Mapletree property, which primarily consist of monthly base rents in addition to the reimbursement of utilities. Other rental revenues, which are included as a component of rental revenue, primarily include fees related to build-out or other services performed by the Company on the property. The Company adopted ASU 2014-09, Revenue from Contracts with Customers (ASC 606) effective January 1, 2018, and its adoption did not have a material effect on the consolidated financial statements, as the majority of the Company’s revenue is recognized under ASC 840, Leases, Leases, The Company adopted ASU 2016-02, Leases (ASC 842) effective January 1, 2019, and its adoption did not have a material effect on the consolidated financial statements. As a lessor, the adoption of ASU 2016-02 (as amended by subsequent ASUs) did not change the timing of revenue recognition of the Company’s rental revenues. Revenues from the leasing of space at our property to tenants includes (i) lease components, including fixed and variable lease payments, and nonlease components which include reimbursement of electric expense and (ii) reimbursement of real estate taxes. As lessor, we have elected to combine the lease and nonlease components of our operating lease agreements and account for the components as a single lease component in accordance with ASC 842. Revenues derived from fixed lease payments are recognized on a straight-line basis over the non-cancelable period of the lease, together with renewal options that are reasonably certain of being exercised. We commence rental revenue recognition when the underlying asset is available for use by the lessee. Revenue derived from the reimbursement of real estate taxes and electric expense are generally recognized in the same period as the related expenses are incurred, which did not change as a result of the adoption of ASU 2016-02. The Company assesses the collectability of lease receivables (including future minimum rental payments) both at commencement and throughout the lease term. If our assessment of collectability changes during the lease term, any difference between the revenue that would have been received under the straight-line method and the lease payments that have been collected will be recognized as a current period adjustment to rental revenue. Rental revenue associated with leases where collectability has been deemed less than probable is recognized on a cash basis in accordance with ASC 842.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The Company assesses the collectability of amounts due from tenants and other receivables, using indicators such as past-due accounts, the nature and age of the receivable, the payment history and the ability of the tenant or debtor to meet its payment obligations. Management’s estimate of allowances for doubtful accounts is subject to revision as these factors change. Any subsequent recovery of tenant receivable that were previously reserved is recorded as a reduction in the allowance of bad debt. As of December 31, 2020, 2019, 2018 and 2017, the allowance relating to tenant receivables was $6,764, $860, $450 and $0, respectively.
Net Income (Loss) Per Share	Net Income (Loss) Per Share Basic net income (loss) per share data is computed by dividing net Income (loss) by the weighted average number of shares of Class A and Class B common stock outstanding (excluding non-vested shares) during each period. Diluted net income (loss) per share is computed by dividing net income by the weighted average shares outstanding, including the dilutive effect, if any, of non-vested shares. For the years ended December 31, 2020, 2019 and 2018 the weighted average shares outstanding as used in the calculation of diluted loss per share do not include 550,000, of outstanding stock options, as their inclusion would be antidilutive.
Cash and cash equivalents	Cash and cash equivalents Cash includes cash on hand, cash in banks and cash in money market funds. Cash equivalents represent short-term, highly liquid investments which are readily convertible to cash and have maturities of three months or less.
Management Estimates	Management Estimates The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated balance sheets and the reported amounts of income and expense for the reporting period. Actual results could differ from those estimates.
Accounting for Stock Awards	Accounting for Stock Awards The Company recognizes the cost of employee and non-employee services received in exchange for awards of equity instruments as stock-based compensation expense. Stock-based compensation expense is measured at the grant date based on the fair value of the stock award and options, and is recognized as an expense, less expected forfeitures, over the requisite service period, which typically equals the vesting period. Stock-based compensation expense for the years ended December 31, 2020, 2019, 2018 were $0 and $16,800 for 2017.
Accounting for Income Taxes	Accounting for Income Taxes The Company accounts for income taxes utilizing the asset and liability approach requiring the recognition of deferred tax assets and liabilities for the expected future tax consequences of net operating loss carryforwards and temporary differences between the basis of assets and liabilities for financial reporting purposes and tax purposes and for net operating loss and other carryforwards. A valuation allowance is provided for deferred tax assets based on the likelihood of realization. The Company recognizes the benefit of an uncertain tax position that it has taken or expect to take on income tax returns it files if such tax position is more likely than not to be sustained on examination by the taxing authorities, based on the technical merits of the position. These tax benefits are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The Company operates in multiple tax jurisdictions within the United States of America. The Company remains subject to examination in all tax jurisdictions until the applicable statutes of limitation expire. As of December 31, 2020, the tax years after 2017 remain subject to examination. The Company did not record unrecognized tax positions for the years ended December 31, 2020, 2019, 2018 or 2017.
Mortgage costs	Mortgage costs The Company amortizes mortgage costs over the life of the loan.
Recent Accounting Pronouncements adopted	Recent Accounting Pronouncements adopted In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers In January 2016, the FASB issued an update (“ASU 2016-01”) Recognition and Measurement of Financial Assets and Financial Liabilities Financial Instruments In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) (“ASU 2016-02”), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. ASU 2016-02 supersedes the previous leases standard, Leases (Topic 840). The Company adopted this standard effective January 1, 2019, and its adoption did not have a material effect on the consolidated financial statements. As a lessor, the adoption of ASU 2016-02 (as amended by subsequent ASUs) did not change the timing of revenue recognition of the Company’s rental revenues. In November 2016, the FASB issued ASU Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The new standard requires that the statement of cash flows explain the change during the period in the combined total of cash, cash equivalents, and amounts generally described as restricted cash equivalents. Entities will also be required to reconcile such total to amounts on the balance sheet and disclose relevant information about the nature of the restrictions on the basis of their individual facts and circumstances. The Company adopted this standard effective January 1, 2017 using the retrospective approach. The adoption of this update did not have a material effect on the consolidated balance sheets, consolidated statements of operation or net Income (loss). The amounts included in restricted cash represent the escrows of, real estate tax, insurance and other reserve escrows required to be held by the lender in accordance with the Company’s mortgage agreement. In August 2018, the FASB issued ASU 2018-13, Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Schedule of real estate	December 31, December 31, December 31, December 31, Land $ 79,100 $ 79,100 $ 79,100 $ 79,100 Buildings 1,360,460 1,251,012 1,125,801 1,068,684 Furniture and equipment 62,754 62,754 57,932 57,818 Total $ 1,502,314 $ 1,392,866 $ 1,262,833 $ 1,205,602

Investment in Partnership (Tabl

Investment in Partnership (Tables)	12 Months Ended
	Dec. 31, 2020
Investment In Partnership [Abstract]
Schedule of unaudited financial information	December 31, 2020 2019 2018 2017 Condensed balance sheet Cash $ 114,223 $ 613,185 $ 199,350 $ 236,390 Accounts receivable 394,158 1,240,483 56,350 34,886 Inventory 2,266,107 455,922 2,024,410 2,552,846 Fixed assets net 320 534 748 1,047 Other assets 68,690 133,240 165,147 276,319 Total assets $ 2,843,498 $ 2,443,364 $ 2,446,005 $ 3,101,488 Accounts payable $ 1,054,716 $ 513,022 $ 702,310 $ 434,369 Other liabilities 378,563 922,698 733,790 235,152 Loans from partners 320,000 110,000 - - Mortgages 485,104 495,120 260,104 575,000 Partners’ capital 605,115 402,524 749,801 1,856,967 Total liabilities and capital $ 2,843,498 $ 2,443,364 $ 2,446,005 $ 3,101,488 Condensed statement of operations Gross receipts $ 554,692 $ 5,935,519 $ 3,163,118 $ 6,020,120 Cost of goods sold 281,932 5,316,116 3,000,965 4,223,171 Gross profit 272,760 619,403 162,153 1,796,949 Other expenses (income) 262,263 966,680 1,074,530 1,375,532 Net income (loss) $ 10,497 $ (347,277 ) $ (912,377 ) $ 421,417 Net income (loss) attributed to Presidential Realty Corporation $ 3,289 $ (108,813 ) $ (285,878 ) $ 132, 044

Mortgage Debt (Tables)

Mortgage Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of mortgage and unamortized mortage cost	Mortgage Unamortized Interest Balance mortgage Costs Expense December 31, 2020 $ 1,570,383 $ 71,777 $ 97,006 December 31, 2019 $ 1,608,516 $ 87,509 $ 99,560 December 31, 2018 $ 1,644,657 $ 103,241 $ 101,699 December 31, 2017 $ 1,678,660 $ 118,974 $ 103,544
Schedule of maturities of long-term debt	2021 $ 42,737 2022 $ 45,386 2023 $ 48,201 2024 $ 51,189 2025 $ 1,382,870 Thereafter $ 0

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of outstanding and vested stock option activity	Shares Weighted Weighted Outstanding at December 31, 2016 740,000 $ 1.25 5 Granted 550,000 $ 0.00 10 Forfeited and expired (740,000 ) $ 1.25 Outstanding at December 31, 2017 550,000 $ 0.00 9 Granted - - Forfeited and expired - - Outstanding at December 31, 2018 550,000 $ 0.00 8 Granted - - Forfeited and expired - - Outstanding at December 31, 2019 550,000 $ 0.00 7 Granted - - Forfeited and expired - - Outstanding at December 31, 2020 550,000 $ 0.00 6

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of aggregate fair values of the non-financial assets by their levels in the fair value hierarchy	As of December 31, 2020 Total Level 1 Level 2 Level 3 Investment in Avalon Jubilee, LLC $ - $ - $ - $ - As of December 31, 2019 Total Level 1 Level 2 Level 3 Investment in Avalon Jubilee, LLC $ - $ - $ - $ - As of December 31, 2018 Total Level 1 Level 2 Level 3 Investment in Avalon Jubilee, LLC $ 82,975 $ — $ — $ 82,975 As of December 31, 2017 Total Level 1 Level 2 Level 3 Investment in Avalon Jubilee, LLC $ 4,247,977 $ — $ — $ 4,247,977
Schedule of determining the fair value of these real estate partnership investment	Range Range December 31, December 31, December 31, December 31, Unobservable Quantitative Input Discount rates 16% to 20% 18% to 22% 18% to 22% 15%
Schedule of changes in the fair value of real estate fund investments that are classified as level 3	For the Year Ended December 31, 2020 2019 2018 2017 Beginning Balance $ -0- $ 82,975 $ 4,247,977 $ -0- Net unrealized gain(loss) on held investment -0- (82,975 ) (4,255,383 ) 116,331 Purchase /additional funding -0- -0- 90,381 4,131,646 Ending balance $ -0- $ -0- $ 82,975 $ 4,247,977

Future Minimum Annual Base Re_2

Future Minimum Annual Base Rents (Tables)	12 Months Ended
	Dec. 31, 2020
Future Minimum Annual Base Rents [Abstract]
Schedule of future minimum annual base rents	Year Ending December 31, 2021 590,089 2022 265,341 2023 143,926 2024 75,536 2025 75,536 Thereafter 12,589 Total $ 1,163,017

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial data - unaudited	March 31, June 30, Statement of Operations 2021 2021 Total revenue $ 256,204 $ 517,175 Costs and expenses $ 274,116 $ 507,506 Other Income $ - $ - Net Income (loss) $ (17,912 ) $ 9,669 Net Income (loss) per share: Basic $ (0.00 ) $ 0.00 Diluted $ (0.00 ) $ 0.00 Weighted average common shares outstanding: Basic 5,188,718 5,188,718 Diluted 5,188,718 5,738,718 Balance Sheet Total Assets $ 1,061,965 $ 1,102,168 Total Liabilities $ 1,930,309 $ 1,942,930 Stockholder’s deficit $ (868,344 ) $ (840,762 ) March 31, June 30, Statement of Operations 2020 2020 Total revenue $ 269,227 $ 526,522 Costs and expenses $ 253,325 $ 504,378 Other Income - - Net Income (loss) $ 15,902 $ 22,144 Net Income (loss) per share: Basic $ 0.00 $ 0.00 Diluted $ 0.00 $ 0.00 Weighted average common shares outstanding: Basic 5,188,718 5,188,718 Diluted 5,738,718 5,738,718 Balance Sheet Total Assets $ 990,038 $ 1,044,445 Total Liabilities $ 1,816,688 $ 1,864,853 Stockholder’s deficit $ (826,650 ) $ (820,408 )

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Financial statement percentage	100.00%	100.00%	100.00%
General partnership interest rate				52.83%
Tenant receivable	$ 6,764	$ 860	$ 450	$ 0
Weighted average shares outstanding (in Shares)	550,000	550,000	550,000
Stock based compensation expenses	$ 0			$ 16,800
Tax benefit, percentage	50.00%

Real Estate (Details) - Schedul

Real Estate (Details) - Schedule of real estate - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of real estate [Abstract]
Land	$ 79,100	$ 79,100	$ 79,100	$ 79,100
Buildings	1,360,460	1,251,012	1,125,801	1,068,684
Furniture and equipment	62,754	62,754	57,932	57,818
Total	$ 1,502,314	$ 1,392,866	$ 1,262,833	$ 1,205,602

Investment in Partnership (Deta

Investment in Partnership (Details) - USD ($)	Jan. 06, 2017	Mar. 21, 2018	Dec. 31, 2020
Investment in Partnership (Details) [Line Items]
FC REIT paid (in Dollars)			$ 800,000
Direct fees (in Dollars)			$ 300,000
Presidential OP units (in Dollars)		$ 4,632,000
Avalon property, description			On December 31, 2020 the Avalon Property consisted of 34 finished, single-family subdivision lots and approximately 21.42 acres of subsequent phases of undeveloped land in Los Lunas, New Mexico.
Description of partnership			we owned a 31.3333% interest in Avalon Jublee, LLC partnership with an aggregate fair value of $-0-. The Company has elected the fair value option versus accounting under the equity method as the fair value better represents the Company’s realization of this investment.
FC REIT [Member]
Investment in Partnership (Details) [Line Items]
Exchange for previously owed (in Dollars)		$ 90,381
Avalon Property [Member]
Investment in Partnership (Details) [Line Items]
Interest	31.3333%		31.3333%
Presidential OP units, shares (in Shares)			4,632,000
Ownership interest			31.3333%
Owned fair value percentage			31.3333%
T9 Transferred Interest [Member]
Investment in Partnership (Details) [Line Items]
Interest	66.00%
FC/T9 Interest [Member]
Investment in Partnership (Details) [Line Items]
Interest	92.00%
Avalon Jublee LLC [Member]
Investment in Partnership (Details) [Line Items]
Appraised value of the property (in Dollars)	$ 4,222,027

Investment in Partnership (De_2

Investment in Partnership (Details) - Schedule of unaudited financial information - Avalon Property [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed balance sheet
Cash	$ 114,223	$ 613,185	$ 199,350	$ 236,390
Accounts receivable	394,158	1,240,483	56,350	34,886
Inventory	2,266,107	455,922	2,024,410	2,552,846
Fixed assets net	320	534	748	1,047
Other assets	68,690	133,240	165,147	276,319
Total assets	2,843,498	2,443,364	2,446,005	3,101,488
Accounts payable	1,054,716	513,022	702,310	434,369
Other liabilities	378,563	922,698	733,790	235,152
Loans from partners	320,000	110,000
Mortgages	485,104	495,120	260,104	575,000
Partners’ capital	605,115	402,524	749,801	1,856,967
Total liabilities and capital	2,843,498	2,443,364	2,446,005	3,101,488
Condensed statement of operations
Gross receipts	554,692	5,935,519	3,163,118	6,020,120
Cost of goods sold	281,932	5,316,116	3,000,965	4,223,171
Gross profit	272,760	619,403	162,153	1,796,949
Other expenses (income)	262,263	966,680	1,074,530	1,375,532
Net income (loss)	10,497	(347,277)	(912,377)	421,417
Net income (loss) attributed to Presidential Realty Corporation	$ 3,289	$ (108,813)	$ (285,878)	$ 132,044

Mortgage Debt (Details)

Mortgage Debt (Details)	1 Months Ended
	Jul. 28, 2015USD ($)
Debt Disclosure [Abstract]
Debt principal amount	$ 1,750,000
Debt interest rate	6.031%
Repayments of debt	$ 934,794
Amount transferred for capital improvements and reserves	123,757
Proceeds from issuance of debt	585,125
Interest payment	$ 11,308

Mortgage Debt (Details) - Sched

Mortgage Debt (Details) - Schedule of mortgage and unamortized mortage cost - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of mortgage and unamortized mortage cost [Abstract]
Mortgage Balance	$ 1,570,383	$ 1,608,516	$ 1,644,657	$ 1,678,660
Unamortized mortgage Costs	71,777	87,509	103,241	118,974
Interest Expense	$ 97,006	$ 99,560	$ 101,699	$ 103,544

Mortgage Debt (Details) - Sch_2

Mortgage Debt (Details) - Schedule of maturities of long-term debt	Dec. 31, 2020USD ($)
Schedule of maturities of long-term debt [Abstract]
2021	$ 42,737
2022	45,386
2023	48,201
2024	51,189
2025	1,382,870
Thereafter	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Real estate investment trust taxable income distributable to shareholder	90.00%
Net operating loss carryforward	$ 21,038,000
Operating loss taxable income description	These loss carryforwards begin to expire in 2027 and are available to offset 100% of taxable income. Net operating losses generated in 2018 and thereafter will be available to offset 80% of taxable income beginning in 2021. Under the Cares Act, taxpayers with NOLs arising in tax years beginning in 2018, 2019 and 2020 can carry them back five years.
Real estate investment trust taxable income (loss)	$ 46,000	$ 123,000	$ 89,000	$ 481,000

Commitments, Contingencies, C_2

Commitments, Contingencies, Concentrations and Related parties (Details)	Jan. 06, 2017USD ($)$ / sharesshares	Jan. 08, 2014	Nov. 08, 2011	Sep. 22, 2016USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)shares
Commitments, Contingencies, Concentrations and Related parties (Details) [Line Items]
Additional purchase of shares (in Shares) | shares								709,745
Exercise price (in Dollars per share) | $ / shares	$ 0
Rental payment				$ 18,000
Lease termination date				Nov. 30, 2017
Incurred total rent								$ 16,500
Voting securities beneficial, percentage					5.00%
Mr. Ludwig’s Employment Agreement [Member]
Commitments, Contingencies, Concentrations and Related parties (Details) [Line Items]
Agreement expiry date					Dec. 31, 2019
Sublease [Member]
Commitments, Contingencies, Concentrations and Related parties (Details) [Line Items]
Rental payment				$ 1,500
Nickolas W. Jekogian [Member]
Commitments, Contingencies, Concentrations and Related parties (Details) [Line Items]
Accrued compensation owed	$ 709,745
Alexander Ludwig [Member]
Commitments, Contingencies, Concentrations and Related parties (Details) [Line Items]
Executive employment agreements, description		The amendment provided for (i) the extension of the employment term from May 3, 2013 to December 31, 2015, (ii) continuation of Mr. Ludwig’s base salary through the balance of the term at the rate of $225,000 per annum, (iii) removal of the $200,000 cap on the amount of any annual bonus that might be awarded Mr. Ludwig, (iv) the issuance of a “Transaction Warrant” to Mr. Ludwig upon the occurrence of a Capital Event, and (v) an increase in severance benefits from three months to six months in the event of a termination of Mr. Ludwig’s employment following a change of control or a termination for “good reason” as defined in the employment agreement.
Mr. Jekogian [Member]
Commitments, Contingencies, Concentrations and Related parties (Details) [Line Items]
Attorneys fees					$ 1,500,000
Property Management Agreement [Member]
Commitments, Contingencies, Concentrations and Related parties (Details) [Line Items]
Monthly rental income from tenants, percentage			5.00%
Management fees					40,291	$ 41,982	$ 38,187	37,342
Management fees unpaid					47,170	38,861	5,625	3,714
Asset Management Agreement [Member]
Commitments, Contingencies, Concentrations and Related parties (Details) [Line Items]
Management fees					12,090	12,594	11,225	11,203
Management fees unpaid					$ 24,482	$ 20,787	$ 1,687	$ 1,114
Asset management fee percentage			1.50%
Description of agreement term			The Asset Management Agreement renewed for a one-year term on November 8, 2020 and will automatically renew for one-year terms until it is terminated by either party upon written notice.
Class B Common Stock [Member]
Commitments, Contingencies, Concentrations and Related parties (Details) [Line Items]
Warrants issued for common stock (in Shares) | shares	450,000
Additional purchase of shares (in Shares) | shares	550,000
Accounts Receivable [Member]
Commitments, Contingencies, Concentrations and Related parties (Details) [Line Items]
Number of customers					3	3	2	1
Customer One [Member] | Accounts Receivable [Member]
Commitments, Contingencies, Concentrations and Related parties (Details) [Line Items]
Concentration of risk, percentage					12.00%	11.00%	14.00%	82.00%
Customer Two [Member] | Accounts Receivable [Member]
Commitments, Contingencies, Concentrations and Related parties (Details) [Line Items]
Concentration of risk, percentage					19.00%	19.00%	44.00%
Customer Three [Member] | Accounts Receivable [Member]
Commitments, Contingencies, Concentrations and Related parties (Details) [Line Items]
Concentration of risk, percentage					24.00%	30.00%

Warrants (Details)

Warrants (Details) - Class B Common Stock [Member] - Nicholas W. Jekogian [Member]	Jan. 31, 2014USD ($)$ / sharesshares
Warrants (Details) [Line Items]
Number of warrant called | shares	1,700,000
Warrant exercise price | $ / shares	$ 0.10
Deferred compensation | $	$ 425,000

Stock-based Compensation (Detai

Stock-based Compensation (Details) - USD ($)	Jan. 06, 2017	Aug. 15, 2012	Dec. 31, 2020	Dec. 31, 2016	Dec. 31, 2017
Stock-based Compensation (Details) [Line Items]
Issuance of aggregate shares	450,000
Director’s fees (in Dollars)				$ 10,800
Directors service shares			90,000
Transaction amount (in Dollars)			$ 2,700
Additional stock option			550,000
2012 Incentive Plan [Member]
Stock-based Compensation (Details) [Line Items]
Fair market value (in Dollars)		$ 100,000
Class B common stock [Member] | Mr. Ludwig [Member]
Stock-based Compensation (Details) [Line Items]
Shares issued	450,000
Purchase an additional shares	550,000
Stock-based compensation value (in Dollars)					$ 13,500
Stock-based compensation shares					450,000
Class B common stock [Member] | 2012 Incentive Plan [Member]
Stock-based Compensation (Details) [Line Items]
Shares issued		1,000,000

Stock-based Compensation (Det_2

Stock-based Compensation (Details) - Schedule of outstanding and vested stock option activity - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of outstanding and vested stock option activity [Abstract]
Shares Underling Options, Outstanding at Beginning Balance	550,000	550,000	550,000	740,000
Weighted Average Exercise Price, Outstanding at Beginning Balance	$ 0	$ 0	$ 0	$ 1.25
Weighted Average Remaining Contractual Term, Outstanding at Beginning Balance				5 years
Shares Underling Options, Granted				550,000
Weighted Average Exercise Price, Granted				$ 0
Weighted Average Remaining Contractual Term, Granted				10 years
Shares Underling Options, Forfeited and expired				(740,000)
Weighted Average Exercise Price, Forfeited and expired				$ 1.25
Shares Underling Options, Outstanding at Ending Balance	550,000	550,000	550,000	550,000
Weighted Average Exercise Price, Outstanding at Ending Balance	$ 0	$ 0	$ 0	$ 0
Weighted Average Remaining Contractual Term, Outstanding at Ending Balance	6 years	7 years	8 years	9 years

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Estimated fair value of mortgages payable	$ 1,675,296	$ 1,689,668	$ 1,765,519	$ 1,840,294
Mortgages carrying value	1,570,383	1,608,516	1,644,657	1,678,660
Unamortized deferred financing costs	$ 71,777	$ 87,509	$ 103,241	$ 118,974
Market interest rate	4.34%	4.93%	4.62%	4.41%
Mortgage maturity term	4 years 292 days	5 years 292 days	6 years 292 days	7 years 292 days

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of aggregate fair values of the non-financial assets by their levels in the fair value hierarchy - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value Measurements (Details) - Schedule of aggregate fair values of the non-financial assets by their levels in the fair value hierarchy [Line Items]
Investment in Avalon Jubilee, LLC			$ 82,975	$ 4,247,977
Level 1 [Member]
Fair Value Measurements (Details) - Schedule of aggregate fair values of the non-financial assets by their levels in the fair value hierarchy [Line Items]
Investment in Avalon Jubilee, LLC
Level 2 [Member]
Fair Value Measurements (Details) - Schedule of aggregate fair values of the non-financial assets by their levels in the fair value hierarchy [Line Items]
Investment in Avalon Jubilee, LLC
Level 3 [Member]
Fair Value Measurements (Details) - Schedule of aggregate fair values of the non-financial assets by their levels in the fair value hierarchy [Line Items]
Investment in Avalon Jubilee, LLC			$ 82,975	$ 4,247,977

Fair Value Measurements (Deta_3

Fair Value Measurements (Details) - Schedule of determining the fair value of these real estate partnership investment	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Unobservable Quantitative Input
Discount rates				15.00%
Minimum [Member]
Unobservable Quantitative Input
Discount rates	16.00%	18.00%	18.00%
Maximum [Member]
Unobservable Quantitative Input
Discount rates	20.00%	22.00%	22.00%

Fair Value Measurements (Deta_4

Fair Value Measurements (Details) - Schedule of changes in the fair value of real estate fund investments that are classified as level 3 - Level 3 [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value Measurements (Details) - Schedule of changes in the fair value of real estate fund investments that are classified as level 3 [Line Items]
Beginning Balance	$ 0	$ 82,975	$ 4,247,977	$ 0
Net unrealized gain(loss) on held investment	0	(82,975)	(4,255,383)	116,331
Purchase /additional funding’s	0	0	90,381	4,131,646
Ending balance	$ 0	$ 0	$ 82,975	$ 4,247,977

Loans Payable (Details)

Loans Payable (Details) - USD ($)	1 Months Ended	12 Months Ended
	Apr. 30, 2020	Dec. 31, 2020	Jul. 28, 2015
Loans Payable (Details) [Line Items]
Debt instrument			$ 1,750,000
Debt instrument, maturity date, description	The PPP Note carries a maturity date of April 2022
Paycheck Protection Program Term Note [Member]
Loans Payable (Details) [Line Items]
Debt instrument	$ 42,100
Debt instrument interest rate	1.00%
Percentage of non-payroll costs		25.00%
Other liabilities		$ 42,100

Future Minimum Annual Base Re_3

Future Minimum Annual Base Rents (Details) - Schedule of future minimum annual base rental revenue	Dec. 31, 2020USD ($)
Schedule of future minimum annual base rental revenue [Abstract]
2021	$ 590,089
2022	265,341
2023	143,926
2024	75,536
2025	75,536
Thereafter	12,589
Total	$ 1,163,017

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) (Details) - Schedule of quarterly financial data - unaudited - Operations [Member] - USD ($)	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020
Selected Quarterly Financial Data (Unaudited) (Details) - Schedule of quarterly financial data - unaudited [Line Items]
Total revenue	$ 517,175	$ 256,204	$ 526,522	$ 269,227
Costs and expenses	507,506	274,116	504,378	253,325
Other Income
Net Income (loss)	$ 9,669	$ (17,912)	$ 22,144	$ 15,902
Net Income (loss) per share:
Basic (in Dollars per share)	$ 0	$ 0	$ 0	$ 0
Diluted (in Dollars per share)	$ 0	$ 0	$ 0	$ 0
Weighted average common shares outstanding:
Basic (in Shares)	5,188,718	5,188,718	5,188,718	5,188,718
Diluted (in Shares)	5,738,718	5,188,718	5,738,718	5,738,718
Balance Sheet
Total Assets	$ 1,102,168	$ 1,061,965	$ 1,044,445	$ 990,038
Total Liabilities	1,942,930	1,930,309	1,864,853	1,816,688
Stockholder’s deficit	$ (840,762)	$ (868,344)	$ (820,408)	$ (826,650)