Santa Fe Financial (SFEF) 10-Q 14 Feb 14 2014 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Dec. 31, 2013	Feb. 04, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Dec-13	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Trading Symbol	'SFEF	'
Entity Common Stock, Shares Outstanding	'	1,241,810
Entity Registrant Name	'SANTA FE FINANCIAL CORP	'
Entity Central Index Key	'0000086759	'
Current Fiscal Year End Date	'--06-30	'
Entity Filer Category	'Smaller Reporting Company	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013	Jun. 30, 2013
ASSETS	'	'
Investment in hotel, net	$36,733,000	$37,611,000
Investment in real estate, net	5,011,000	5,042,000
Investment in marketable securities	5,315,000	5,205,000
Other investments, net	7,929,000	7,933,000
Cash and cash equivalents	2,458,000	688,000
Restricted cash - redemption	19,091,000	0
Restricted cash - mortgage impounds	852,000	0
Accounts receivable, net	1,581,000	1,957,000
Other assets, net	4,622,000	3,104,000
Deferred tax asset	5,454,000	3,193,000
Total assets	89,046,000	64,733,000
Liabilities:	'	'
Accounts payable and other liabilities	14,690,000	9,844,000
Redemption payable	19,091,000	0
Due to securities broker	504,000	832,000
Obligations for securities sold	944,000	928,000
Other notes payable	731,000	1,595,000
Mortgage notes payable - real estate	3,503,000	3,533,000
Mortgage and subordinated notes payable - hotel	117,000,000	43,413,000
Total liabilities	156,463,000	60,145,000
Commitments and contingencies	'	'
Shareholders' (deficit) equity:	'	'
Common stock - par value $.10 per share; Authorized - 2,000,000; Issued 1,339,638 and outstanding 1,241,810	134,000	134,000
Additional paid-in capital	7,892,000	8,808,000
Accumulated deficit	-49,868,000	-205,000
Treasury stock, at cost, 97,828 shares	-951,000	-951,000
Total Santa Fe shareholders' (deficit) equity	-42,793,000	7,786,000
Noncontrolling interest	-24,624,000	-3,198,000
Total shareholders' (deficit) equity	-67,417,000	4,588,000
Total liabilities and shareholders' (deficit) equity	$89,046,000	$64,733,000

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $)	Dec. 31, 2013	Jun. 30, 2013
Common stock, par value (in dollars per share)	$0.10	$0.10
Common Stock, Shares Authorized	2,000,000	2,000,000
Common Stock, Shares, Issued	1,339,638	1,339,638
Common Stock, Shares, Outstanding	1,241,810	1,241,810
Treasury Stock, Shares	97,828	97,828

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Revenues:	'	'	'	'
Hotel	$12,274,000	$10,970,000	$25,579,000	$23,106,000
Real estate	159,000	144,000	306,000	282,000
Total revenues	12,433,000	11,114,000	25,885,000	23,388,000
Costs and operating expenses:	'	'	'	'
Hotel operating expenses	-9,493,000	-9,398,000	-19,025,000	-18,562,000
Hotel restructuring costs	-7,295,000	0	-7,295,000	0
Hotel occupancy tax - penalty fees	-1,084,000	0	-1,084,000	0
Real estate operating expenses	-99,000	-59,000	-242,000	-123,000
Depreciation and amortization expense	-737,000	-606,000	-1,377,000	-1,205,000
General and administrative expense	-252,000	-254,000	-497,000	-500,000
Total costs and operating expenses	-18,960,000	-10,317,000	-29,520,000	-20,390,000
Income (loss) from operations	-6,527,000	797,000	-3,635,000	2,998,000
Other income (expense):	'	'	'	'
Interest expense - mortgage	-793,000	-687,000	-1,454,000	-1,381,000
Interest expense - occupancy tax	-328,000	0	-328,000	0
Loss on extinguishment of debt	-3,910,000	0	-3,910,000	0
Loss on disposal of assets	-1,092,000	0	-1,092,000	0
Net gain (loss) on marketable securities	166,000	-1,132,000	300,000	-349,000
Net unrealized loss on other investments	-4,000	-41,000	-4,000	-169,000
Dividend and interest income	251,000	259,000	256,000	270,000
Trading and margin interest expense	-117,000	-113,000	-248,000	-229,000
Other expense, net	-5,827,000	-1,714,000	-6,480,000	-1,858,000
Income (loss) before income taxes	-12,354,000	-917,000	-10,115,000	1,140,000
Income tax benefit (expense)	2,732,000	165,000	2,261,000	-159,000
Net (loss) income	-9,622,000	-752,000	-7,854,000	981,000
Less: Net loss (income) attributable to the noncontrolling interest	3,646,000	-10,000	2,229,000	-1,089,000
Net loss attributable to Santa Fe	($5,976,000)	($762,000)	($5,625,000)	($108,000)
Basic and diluted net loss per share attributable to Santa Fe (in dollars per share)	($4.81)	($0.61)	($4.53)	($0.09)
Weighted average number of common shares outstanding - basic and diluted (in shares)	1,241,810	1,241,810	1,241,810	1,241,810

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:	'	'
Net (loss) income	($7,854,000)	$981,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:	'	'
Net unrealized (loss) gain on marketable securities	-281,000	383,000
Unrealized loss on other investments	4,000	169,000
Loss on extinguishment of debt	3,910,000	0
Loss on disposal of assets	1,092,000	0
Depreciation and amortization	1,377,000	1,205,000
Changes in assets and liabilities:	'	'
Investment in marketable securities	171,000	-464,000
Accounts receivable	376,000	-104,000
Other assets	-1,485,000	-483,000
Accounts payable and other liabilities	4,846,000	238,000
Due to securities broker	-328,000	734,000
Obligations for securities sold	16,000	-273,000
Deferred tax asset	-2,261,000	159,000
Net cash (used in) provided by operating activities	-417,000	2,545,000
Cash flows from investing activities:	'	'
Hotel and real estate investments	-1,592,000	-1,342,000
Net cash used in investing activities	-1,592,000	-1,342,000
Cash flows from financing activities:	'	'
Restricted cash - redemption and mortgage impounds	-19,943,000	0
Redemption payments and dividends to noncontrolling interest	-45,061,000	-658,000
Proceeds (Payments) on mortgage and subordinated notes payable, net	69,647,000	-463,000
Payments on other notes payable	-864,000	26,000
Net cash provided by (used in) financing activities	3,779,000	-1,095,000
Net increase in cash and cash equivalents:	1,770,000	108,000
Cash and cash equivalents at the beginning of the period	688,000	1,143,000
Cash and cash equivalents at the end of the period	2,458,000	1,251,000
Supplemental information:	'	'
Interest paid	$1,538,000	$1,433,000

BASIS_OF_PRESENTATION_AND_SIGN

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	NOTE 1 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
	The condensed consolidated financial statements included herein have been prepared by Santa Fe Financial Corporation (“Santa Fe” or the “Company”), without audit, according to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in the condensed consolidated financial statements prepared in accordance with generally accepted accounting principles (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations, although the Company believes the disclosures that are made are adequate to make the information presented not misleading. Further, the condensed consolidated financial statements reflect, in the opinion of management, all adjustments (which included only normal recurring adjustments) necessary for a fair statement of the financial position, cash flows and results of operations as of and for the periods indicated. It is suggested that these financial statements be read in conjunction with the audited financial statements of Santa Fe and the notes therein included in the Company's Annual Report on Form 10-K for the year ended June 30, 2013. The June 30, 2013 Condensed Consolidated Balance Sheet was derived from the Company’s Form 10-K for the year ended June 30, 2013.
	The results of operations for the three months and six months ended December 31, 2013 are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2014.
	For the three months and six months ended December 31, 2013 and 2012, the Company had no components of comprehensive income other than net income itself.
	OWNERSHIP AND PROPERTIES
	As of December 31, 2013, Santa Fe owns approximately 68.8% of the outstanding common shares of Portsmouth Square, Inc. (“Portsmouth”), a public company. Santa Fe is an 80.5%-owned subsidiary of The InterGroup Corporation (“InterGroup”), a public company. InterGroup also directly owns approximately 12.9% of the common stock of Portsmouth.
	The Company’s primary business is conducted through Portsmouth’s general and limited partnership interest in Justice Investors, a California limited partnership (“Justice” or the “Partnership”). Portsmouth has a 93% limited partnership interest in Justice and is the sole general partner. The financial statements of Justice are consolidated with those of the Company.
	Justice owns a 543-room hotel property located at 750 Kearny Street, San Francisco California, known as the Hilton San Francisco Financial District (the Hotel) and related facilities including a five level underground parking garage. The Hotel is operated by the partnership as a full service Hilton brand hotel pursuant to a Franchise License Agreement with Hilton Hotels Corporation. Justice also has a Management Agreement with Prism Hospitality L.P. (Prism) to perform the day-to-day management functions of the Hotel. The parking garage that is part of the Hotel property is managed by Ace Parking pursuant to a contract with the Partnership.
	Portsmouth also receives management fees as a general partner of Justice for its services in overseeing and managing the Partnership’s assets. Those fees are eliminated in consolidation.
	In addition to the operations of the Hotel, the Company also generates income from the ownership of real estate. On December 31, 1997, the Company acquired a controlling 55.4% interest in Intergroup Woodland Village, Inc. ("Woodland Village") from InterGroup. Woodland Village's major asset is a 27-unit apartment complex located in Los Angeles, California. The Company also owns a two-unit apartment building in Los Angeles, California.
	Basic income per share is calculated based upon the weighted average number of common shares outstanding during each respective period. During the three months and six months ended December 31, 2013 and 2012, the Company did not have any potentially dilutive securities outstanding.
	JUSTICE PARTNERSHIP REDEMPTION AND RESTRUCTURING
	On December 18, 2013, Justice Investors, a California limited partnership (“Justice” or the “Partnership”), completed its Offer to Redeem any and all limited partnership interests not held by Portsmouth Square, Inc. (the “Company”), and the Loan Agreements, as defined in below. In addition, the requisite approval of amendments to its Amended and Restated Agreement of Limited Partnership became effective upon the completion of the Offer to Redeem and the consummation of the Loan Agreements. Such amendments are described in below. As a result, Portsmouth is now the sole General Partner of Justice and controls 93% of Justice.
	Justice has accepted tenders, for cash, of approximately 29.173% of the limited partnership interests outstanding prior to the Offer to Redeem, and payments to the holders of such interests, in the amount of $1,385,000 for each 1% tendered, are in the process of being distributed. In addition, Justice has accepted the election of holders of approximately 17.146% of the limited partnership interests outstanding prior to the Offer to Redeem to participate in the alternate redemption structure, which allows them to redeem their limited partnership interests at some time within the next 12 months for certain property or cash or a combination of property and cash. The current and deferred payments to holders or limited partnership interests are classified as restricted cash and, together with the expenses discussed below, totals $19,091,000 and is classified on the balance sheet as redemption payable. Portsmouth, which prior to the Offer to Redeem owned 50% of the then outstanding limited partnership interests, now owns approximately 93% of the limited partnership interests of Justice.
	Justice incurred approximately $7,295,000 in hotel restructuring costs relating to the Offer to Redeem and related financing transactions, including a one-time management fee of $1,550,000, approximately $745,000 in legal, accounting and other professional expenses, and a Documentary Transfer Tax fee of approximately $5 million paid to the City of San Francisco.  The Documentary Transfer Tax fee was assessed as a condition to recording the transfer of Justice Investors' principal asset to a subsidiary to consummate the redemption. While Justice believes the assessment of the Documentary Transfer tax was inappropriate, the tax was paid, under protest, on advice of Justice’s counsel to allow for the consummation of the redemption.  Justice intends to challenge the calculation of the tax. No prediction can be made as to whether the tax will be upheld, or whether any portion of the tax will be refunded. Justice allocated a portion of the Documentary Transfer Tax to certain former limited partners of Justice Investors as a cost of the transaction. Certain of these limited partners have objected to the allocation, and Justice and the limited partners are pursuing non-binding mediation in an attempt to resolve the dispute. No prediction can be given as to the outcome of the dispute.
	Justice utilized the book value method to record the redemption of the limited partners. Under book value (bonus) method the remaining partners continue the existing partnership, recording no changes to the book values of the partnership's assets and liabilities. As a result, any revaluation of the existing partnership's assets or liabilities that might be undertaken is solely to determine the settlement price to the outgoing partner. The partner's withdrawal from the partnership is recorded by adjusting the remaining partners' capital accounts with the amount of the bonus, which is allocated according to their income-sharing ratio. The amount of adjustment is equal to the difference between the settlement price paid to the withdrawing partner and the book value of his share of total partnership capital at the time he withdraws. Justice Partner’s capital was reduced by approximately $64.1 million for the redemption.
	In connection with the Offer to Redeem, Justice retired existing debt and replaced it with lower-yielding loans, the proceeds of which were used to fund the Offer to Redeem and to provide for additional working capital for the Hotel.  Justice incurred a loss on the extinguishment of debt of $3,910,000 which included a yield maintenance (prepayment penalty) expense of $3,808,000 and a write-off of capitalized loan costs on the refinanced debt of approximately $102,000.
	The City of San Francisco’s Tax Collector’s office has claimed that Justice owes the City of San Francisco $2.1 million based on the Tax Collector’s interpretation of the San Francisco Business and Tax Regulations Code relating to Transient Occupancy Tax and Tourist Improvement District Assessment. This amount exceeds Justice’s estimate of the taxes owed, and Justice has disputed the claim and is seeking to discharge all penalties and interest charges imposed by the Tax Collector. No prediction can be given at this time as to the outcome of this dispute.
	In December 2013, Justice determined to substantially demolish the Hotel’s ground-level Spa (with the exception of the ceilings and certain mechanical systems) to build out additional meeting rooms, a technology lounge and re-locate Hotel offices. Justice believes this will result in a greater guest experience and increases in operating revenues. Justice recorded a loss of approximately $738,000 as a disposal of assets on the closure of the Hotel’s Spa on the lobby level.
	Justice Loan Agreements
	On December 18, 2013: (i) Justice Operating Company, LLC, a Delaware limited liability company (“Operating”), entered into a loan agreement (“Mortgage Loan Agreement”) with Bank of America (“Mortgage Lender”); and (ii) Justice Mezzanine Company, a Delaware limited liability company (“Mezzanine”), entered into a mezzanine loan agreement (“Mezzanine Loan Agreement” and, together with the Mortgage Loan Agreement, the “Loan Agreements”) with ISBI San Francisco Mezz Lender LLC (“Mezzanine Lender” and, together with Mortgage Lender, the “Lenders”). Justice is the sole member of Mezzanine, and Mezzanine is the sole member of Operating.
	The Loan Agreements provide for a $97,000,000 Mortgage Loan and a $20,000,000 Mezzanine Loan. The proceeds of the Loan Agreements were used to fund the redemption of limited partnership interests described above and the pay-off of the prior mortgage.
	The Mortgage Loan is secured by the Partnership’s principal asset, the Hilton San Francisco-Financial District (the “Property”). The Mortgage Loan initially bears an interest rate of 5.28% per annum and matures in January 2024. The term of the loan is 10 years with interest only due in the first three years and principle and interest on the remaining seven years of the loan. The Mortgage Loan also requires payments for impounds related to property tax, insurance and capital improvement reserves. As additional security for the Mortgage Loan, there is a limited guaranty (“Mortgage Guaranty”) executed by the Company in favor of Mortgage Lender.
	The Mezzanine Loan is a secured by the Operating membership interest held by Mezzanine and is subordinated to the Mortgage Loan. The Mezzanine Loan initially bears interest at 9.75% per annum and matures in January, 2024. Interest only is payable monthly. As additional security for the Mezzanine Loan, there is a limited guaranty executed by the Company in favor of Mezzanine Lender (the “Mezzanine Guaranty” and, together with the Mortgage Guaranty, the “Guaranties”).
	The Guaranties are limited to what are commonly referred to as “bad boy” acts, including: (i) fraud or intentional misrepresentations; (ii) gross negligence or willful misconduct; (iii) misapplication or misappropriation of rents, security deposits, insurance or condemnation proceeds; and (iv) failure to pay taxes or insurance. The Guaranties will be full recourse guaranties under identified circumstances, including failure to maintain “single purpose” status, transfer of the Property in violation of the applicable loan documents and the Property becoming subject to a bankruptcy proceeding. Pursuant to the Guaranties, the Company is required to maintain a certain minimum net worth and liquidity. As of December 31, 2013, the Company is in compliance with both requirements.
	Each of the Loan Agreements contains customary representations and warranties, events of default, reporting requirements, affirmative covenants and negative covenants, which impose restrictions on, among other things, organizational changes of the respective borrower, operations of the Property, agreements with affiliates and third parties. Each of the Loan Agreements also provides for mandatory prepayments under certain circumstances (including casualty or condemnation events) and voluntary prepayments, subject to satisfaction of prescribed conditions set forth in the Loan Agreements.
	Limited Partnership Agreement Amendments
	In conjunction with the Offer to Redeem, the Partnership solicited and obtained consents from holders of the requisite limited partnership interests to amendments to the Justice Amended and Restated Agreement of Limited Partnership, which became effective upon the completion of the Offer to Redeem and the consummation of the Loan Agreements. The amendments included the following changes to the Justice Amended and Restated Agreement of Limited Partnership:
		⋅	Providing for a single general partner;
		⋅	Providing for Class B limited partnership interests, which, if issued, would represent interests in the Partnership; and
		⋅	Permitting the General Partner to admit additional limited partners, subject to certain restrictions.

INVESTMENT_IN_HOTEL_NET

INVESTMENT IN HOTEL, NET (Hotel [Member])	6 Months Ended
	Dec. 31, 2013
Hotel [Member]	'
Real Estate Properties [Line Items]	'
Real Estate Disclosure [Text Block]	'
	NOTE 2 – INVESTMENT IN HOTEL, NET
	Investment in hotel consisted of the following as of:
				Accumulated		Net Book
	December 31, 2013	Cost		Depreciation		Value
	Land	$	1,896,000	$	-	$	1,896,000
	Furniture and equipment		22,162,000		-21,296,000		866,000
	Building and improvements		54,564,000		-20,593,000		33,971,000
		$	78,622,000	$	-41,889,000	$	36,733,000
				Accumulated		Net Book
	June 30, 2013	Cost		Depreciation		Value
	Land	$	1,896,000	$	-	$	1,896,000
	Furniture and equipment		22,270,000		-19,312,000		2,958,000
	Building and improvements		54,327,000		-21,570,000		32,757,000
		$	78,493,000	$	-40,882,000	$	37,611,000

INVESTMENT_IN_REAL_ESTATE_NET

INVESTMENT IN REAL ESTATE, NET (Apartment Building [Member])	6 Months Ended
	Dec. 31, 2013
Apartment Building [Member]	'
Real Estate Properties [Line Items]	'
Real Estate Disclosure [Text Block]	'
	NOTE 3 – INVESTMENT IN REAL ESTATE, NET
	The Company owns and operates a 27-unit and 2-unit multi-family apartment complex located in Los Angeles, California and owns land held for development located in Maui, Hawaii. Investment in real estate consisted of the following:
	As of	December 31, 2013		June 30, 2013
	Land	$	2,430,000	$	2,430,000
	Buildings, improvements and equipment		2,581,000		2,580,000
	Accumulated depreciation		-973,000		-941,000
			4,038,000		4,069,000
	Land held for development		973,000		973,000
	Investment in real estate, net	$	5,011,000	$	5,042,000

INVESTMENT_IN_MARKETABLE_SECUR

INVESTMENT IN MARKETABLE SECURITIES	6 Months Ended
	Dec. 31, 2013
Investments, Debt and Equity Securities [Abstract]	'
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	'
	NOTE 4 - INVESTMENT IN MARKETABLE SECURITIES
	The Company’s investment in marketable securities consists primarily of corporate equities. The Company has also invested in corporate bonds and income producing securities, which may include interests in real estate based companies and REITs, where financial benefit could insure to its shareholders through income and/or capital gain.
	At December 31, 2013 and June 30, 2013, all of the Company’s marketable securities are classified as trading securities. The change in the unrealized gains and losses on these investments are included in earnings. Trading securities are summarized as follows:
				Gross		Gross		Net		Fair
	Investment	Cost		Unrealized Gain		Unrealized Loss		Unrealized Gain		Value
	As of December 31, 2013
	Corporate
	Equities	$	4,435,000	$	1,840,000	$	-960,000	$	880,000	$	5,315,000
	As of June 30, 2013
	Corporate
	Equities	$	4,811,000	$	1,530,000	$	-1,136,000	$	394,000	$	5,205,000
	As of December 31, 2013 and June 30, 2013, the Company had $882,000 and $902,000, respectively, of unrealized losses related to securities held for over one year.
	Net gain (loss) on marketable securities on the statement of operations is comprised of realized and unrealized gains (losses). Below is the composition of the two components for the three months and six months ended December 31, 2013 and 2012, respectively.
	For the three months ended December 31,	2013		2012
	Realized gain (loss) on marketable securities	$	130,000	$	-8,000
	Unrealized gain (loss) on marketable securities		36,000		-1,124,000
	Net gain (loss) on marketable securities	$	166,000	$	-1,132,000
	For the six months ended December 31,	2013		2012
	Realized gain on marketable securities	$	19,000	$	34,000
	Unrealized gain (loss) on marketable securities		281,000		-383,000
	Net gain (loss) on marketable securities	$	300,000	$	-349,000

OTHER_INVESTMENTS_NET

OTHER INVESTMENTS, NET	6 Months Ended
	Dec. 31, 2013
Other Investments [Abstract]	'
Other Investments Disclosure [Text Block]	'
	NOTE 5 – OTHER INVESTMENTS, NET
	The Company may also invest, with the approval of the Securities Investment Committee and other Company guidelines, in private investment equity funds and other unlisted securities, such as convertible notes through private placements. Those investments in non-marketable securities are carried at cost on the Company’s balance sheet as part of other investments, net of other than temporary impairment losses.
	Other investments, net consist of the following:
	Type	December 31, 2013		June 30, 2013
	Preferred stock - Comstock, at cost	$	6,659,000	$	6,659,000
	Private equity hedge fund, at cost		1,102,000		1,102,000
	Corporate debt and equity instruments, at cost		168,000		168,000
	Warrants - at fair value		-		4,000
		$	7,929,000	$	7,933,000

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	NOTE 6 - FAIR VALUE MEASUREMENTS
	The carrying values of the Company’s financial instruments not required to be carried at fair value on a recurring basis approximate fair value due to their short maturities (i.e., accounts receivable, other assets, accounts payable and other liabilities, due to securities broker and obligations for securities sold) or the nature and terms of the obligation (i.e., other notes payable and mortgage notes payable).
	The assets measured at fair value on a recurring basis are as follows:
	As of December 31, 2013
		Level 1		Level 2		Level 3		Total
	Assets:
	Investment in marketable securities:
	Basic materials	$	3,130,000	$	-	$	-	$	3,130,000
	Financial services		1,042,000		-		-		1,042,000
	Technology		469,000		-		-		469,000
	REITs and real estate companies		209,000		-		-		209,000
	Other		465,000		-		-		465,000
			5,315,000		-		-		5,315,000
	As of June 30, 2013
		Level 1		Level 2		Level 3		Total
	Assets:
	Cash equivalents - money market	$	3,000	$	-	$	-	$	3,000
	Other investments - warrants		-		-		4,000		4,000
	Investment in marketable securities:
	Basic materials		2,420,000		-		-		2,420,000
	Technology		989,000		-		-		989,000
	Financial services		838,000		-		-		838,000
	REITs and real estate companies		291,000		-		-		291,000
	Other		667,000		-		-		667,000
			5,205,000		-		-		5,205,000
		$	5,208,000	$	-	$	4,000	$	5,212,000
	The fair values of investments in marketable securities are determined by the most recently traded price of each security at the balance sheet date. The fair value of the warrants was determined based upon a Black-Scholes option valuation model.
	Financial assets that are measured at fair value on a non-recurring basis and are not included in the tables above include “Other investments, net (non-marketable securities),” that were initially measured at cost and have been written down to fair value as a result of impairment or adjusted to record the fair value of new instruments received (i.e., preferred shares) in exchange for old instruments (i.e., debt instruments). The following table shows the fair value hierarchy for these assets measured at fair value on a non-recurring basis as follows:
										Net loss for the six months
	Assets	Level 1		Level 2		Level 3		December 31, 2013		ended December 31, 2013
	Other non-marketable investments	$	-	$	-	$	7,929,000	$	7,929,000	$	-
										Net loss for the six months
	Assets	Level 1		Level 2		Level 3		June 30, 2013		ended December 31, 2012
	Other non-marketable investments	$	-	$	-	$	7,929,000	$	7,929,000	$	-
	Other investments in non-marketable securities are carried at cost net of any impairment loss. The Company has no significant influence or control over the entities that issue these investments and holds less than 20% ownership in each of the investments. These investments are reviewed on a periodic basis for other-than-temporary impairment. The Company reviews several factors to determine whether a loss is other-than-temporary. These factors include but are not limited to: (i) the length of time an investment is in an unrealized loss position, (ii) the extent to which fair value is less than cost, (iii) the financial condition and near term prospects of the issuer and (iv) our ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in fair value.

SEGMENT_INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Dec. 31, 2013
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	NOTE 7 – SEGMENT INFORMATION
	The Company operates in three reportable segments, the operation of the hotel (“Hotel Operations”), its multi-family residential properties (“Real Estate Operations) and the investment of its cash in marketable securities and other investments (“Investment Transactions”). These three operating segments, as presented in the financial statements, reflect how management internally reviews each segment’s performance. Management also makes operational and strategic decisions based on this same information. Information below represents reporting segments for the three months and six months ended December 31, 2013 and 2012, respectively. Operating income for rental properties consist of rental income. Operating income from hotel operations consists of the operation of the hotel and operation of the garage. Operating income from investment transactions consist of net investment gain and dividend and interest income.
	As of and for the three months	Hotel		Real Estate		Investment
	ended December 31, 2013	Operations		Operations		Transactions		Other		Total
	Revenues	$	12,274,000	$	159,000	$	-	$	-	$	12,433,000
	Segment operating expenses		-17,872,000		-99,000		-		-252,000		-18,223,000
	Segment loss		-5,598,000		60,000		-		-252,000		-5,790,000
	Interest expense - mortgage		-767,000		-26,000		-		-		-793,000
	Interest expense - occupancy tax		-328,000		-		-		-		-328,000
	Loss on extinguishment of debt		-3,910,000		-		-		-		-3,910,000
	Loss on disposal of assets		-1,092,000		-		-		-		-1,092,000
	Depreciation and amortization expense		-722,000		-15,000		-		-		-737,000
	Income from investments		-		-		296,000		-		296,000
	Income tax benefit		-		-		-		2,732,000		2,732,000
	Net income (loss)	$	-12,417,000	$	19,000	$	296,000	$	2,480,000	$	-9,622,000
	Total assets	$	36,733,000	$	5,011,000	$	13,244,000	$	34,058,000	$	89,046,000
	As of and for the three months	Hotel		Real Estate		Investment
	ended December 31, 2012	Operations		Operations		Transactions		Other		Total
	Revenues	$	10,970,000	$	144,000	$	-	$	-	$	11,114,000
	Segment operating expenses		-9,398,000		-59,000		-		-254,000		-9,711,000
	Segment income (loss)		1,572,000		85,000		-		-254,000		1,403,000
	Interest expense		-660,000		-27,000		-		-		-687,000
	Depreciation and amortization expense		-591,000		-15,000		-		-		-606,000
	Loss from investments		-		-		-1,027,000		-		-1,027,000
	Income tax benefit		-		-		-		165,000		165,000
	Net income (loss)	$	321,000	$	43,000	$	-1,027,000	$	-89,000	$	-752,000
	Total assets	$	36,685,000	$	5,074,000	$	12,133,000	$	9,862,000	$	63,754,000
	As of and for the six months	Hotel		Real Estate		Investment
	ended December 31, 2013	Operations		Operations		Transactions		Other		Total
	Revenues	$	25,579,000	$	306,000	$	-	$	-	$	25,885,000
	Segment operating expenses		-27,404,000		-242,000		-		-497,000		-28,143,000
	Segment loss		-1,825,000		64,000		-		-497,000		-2,258,000
	Interest expense - mortgage		-1,402,000		-52,000		-		-		-1,454,000
	Interest expense - occupancy tax		-328,000		-		-		-		-328,000
	Loss on extinguishment of debt		-3,910,000		-		-		-		-3,910,000
	Loss on disposal of assets		-1,092,000		-		-		-		-1,092,000
	Depreciation and amortization expense		-1,346,000		-31,000		-		-		-1,377,000
	Income from investments		-		-		304,000		-		304,000
	Income tax benefit		-		-		-		2,261,000		2,261,000
	Net income (loss)	$	-9,903,000	$	-19,000	$	304,000	$	1,764,000	$	-7,854,000
	Total assets	$	36,733,000	$	5,011,000	$	13,244,000	$	34,058,000	$	89,046,000
	As of and for the six months	Hotel		Real Estate		Investment
	ended December 31, 2012	Operations		Operations		Transactions		Other		Total
	Revenues	$	23,106,000	$	282,000	$	-	$	-	$	23,388,000
	Segment operating expenses		-18,562,000		-123,000		-		-500,000		-19,185,000
	Segment income (loss)		4,544,000		159,000		-		-500,000		4,203,000
	Interest expense		-1,324,000		-57,000		-		-		-1,381,000
	Depreciation and amortization expense		-1,174,000		-31,000		-		-		-1,205,000
	Loss from investments		-		-		-477,000		-		-477,000
	Income tax expense		-		-		-		-159,000		-159,000
	Net income (loss)	$	2,046,000	$	71,000	$	-477,000	$	-659,000	$	981,000
	Total assets	$	36,685,000	$	5,074,000	$	12,133,000	$	9,862,000	$	63,754,000

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	NOTE 8 – RELATED PARTY TRANSACTIONS
	Certain shared costs and expenses primarily administrative expenses including rent and insurance, are allocated among the Company and its subsidiary, Portsmouth, and the Company’s parent, InterGroup, based on management’s estimate of the pro rata utilization of resources. For the three months ended December 31, 2013 and 2012, the Company and Portsmouth made payments to InterGroup of $36,000 for each respective period. For the six months ended December 31, 2013 and 2012, the Company and Portsmouth made payments to InterGroup of $72,000 for each respective period.
	During the three months ended December 31, 2013 and 2012, the Company received management fees from Justice Investors totaling $108,000 and $89,000, respectively. During the six months ended December 31, 2013 and 2012, the Company received management fees from Justice Investors totaling $220,000 and $201,000, respectively. These amounts were eliminated in consolidation.
	In connection with the redemption of limited partnership interests of Justice Investors, Limited Partnership described in Note 1 above, Justice Operating Company, LLC agreed to pay a total of $1,550,000 in fees to certain officers and directors of the Company for services rendered in connection with the redemption of partnership interests, refinancing of Justice’s properties and reorganization of Justice Investors. This agreement was superseded by a letter dated December 11, 2013 from Justice Investors, Limited Partnership, in which Justice Investors Limited Partnership assumed the payment obligations of Justice Operating Company, LLC. The first payment under this agreement was made concurrently with the closing of the loan agreements described in Note 1 above, with the remaining payments due upon Justice Investor’s having adequate available cash as described in the letter.
	Four of the Portsmouth directors serve as directors of Intergroup. Three of those directors also serve as directors of Santa Fe. The three Santa Fe directors also serve as directors of InterGroup.
	John V. Winfield serves as Chief Executive Officer and Chairman of the Company, Portsmouth, and InterGroup. Depending on certain market conditions and various risk factors, the Chief Executive Officer, his family, Portsmouth and InterGroup may, at times, invest in the same companies in which the Company invests. The Company encourages such investments because it places personal resources of the Chief Executive Officer and his family members, and the resources of Portsmouth and InterGroup, at risk in connection with investment decisions made on behalf of the Company.

BASIS_OF_PRESENTATION_AND_SIGN1

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Justice Partnership Redemption [Policy Text Block]	'
	OWNERSHIP AND PROPERTIES
	As of December 31, 2013, Santa Fe owns approximately 68.8% of the outstanding common shares of Portsmouth Square, Inc. (“Portsmouth”), a public company. Santa Fe is an 80.5%-owned subsidiary of The InterGroup Corporation (“InterGroup”), a public company. InterGroup also directly owns approximately 12.9% of the common stock of Portsmouth.
	The Company’s primary business is conducted through Portsmouth’s general and limited partnership interest in Justice Investors, a California limited partnership (“Justice” or the “Partnership”). Portsmouth has a 93% limited partnership interest in Justice and is the sole general partner. The financial statements of Justice are consolidated with those of the Company.
	Justice owns a 543-room hotel property located at 750 Kearny Street, San Francisco California, known as the Hilton San Francisco Financial District (the Hotel) and related facilities including a five level underground parking garage. The Hotel is operated by the partnership as a full service Hilton brand hotel pursuant to a Franchise License Agreement with Hilton Hotels Corporation. Justice also has a Management Agreement with Prism Hospitality L.P. (Prism) to perform the day-to-day management functions of the Hotel. The parking garage that is part of the Hotel property is managed by Ace Parking pursuant to a contract with the Partnership.
	Portsmouth also receives management fees as a general partner of Justice for its services in overseeing and managing the Partnership’s assets. Those fees are eliminated in consolidation.
	In addition to the operations of the Hotel, the Company also generates income from the ownership of real estate. On December 31, 1997, the Company acquired a controlling 55.4% interest in Intergroup Woodland Village, Inc. ("Woodland Village") from InterGroup. Woodland Village's major asset is a 27-unit apartment complex located in Los Angeles, California. The Company also owns a two-unit apartment building in Los Angeles, California.
	Basic income per share is calculated based upon the weighted average number of common shares outstanding during each respective period. During the three months and six months ended December 31, 2013 and 2012, the Company did not have any potentially dilutive securities outstanding.
Justice Loan Agreements [Policy Text Block]	'
	JUSTICE PARTNERSHIP REDEMPTION AND RESTRUCTURING
	On December 18, 2013, Justice Investors, a California limited partnership (“Justice” or the “Partnership”), completed its Offer to Redeem any and all limited partnership interests not held by Portsmouth Square, Inc. (the “Company”), and the Loan Agreements, as defined in below. In addition, the requisite approval of amendments to its Amended and Restated Agreement of Limited Partnership became effective upon the completion of the Offer to Redeem and the consummation of the Loan Agreements. Such amendments are described in below. As a result, Portsmouth is now the sole General Partner of Justice and controls 93% of Justice.
	Justice has accepted tenders, for cash, of approximately 29.173% of the limited partnership interests outstanding prior to the Offer to Redeem, and payments to the holders of such interests, in the amount of $1,385,000 for each 1% tendered, are in the process of being distributed. In addition, Justice has accepted the election of holders of approximately 17.146% of the limited partnership interests outstanding prior to the Offer to Redeem to participate in the alternate redemption structure, which allows them to redeem their limited partnership interests at some time within the next 12 months for certain property or cash or a combination of property and cash. The current and deferred payments to holders or limited partnership interests are classified as restricted cash and, together with the expenses discussed below, totals $19,091,000 and is classified on the balance sheet as redemption payable. Portsmouth, which prior to the Offer to Redeem owned 50% of the then outstanding limited partnership interests, now owns approximately 93% of the limited partnership interests of Justice.
	Justice incurred approximately $7,295,000 in hotel restructuring costs relating to the Offer to Redeem and related financing transactions, including a one-time management fee of $1,550,000, approximately $745,000 in legal, accounting and other professional expenses, and a Documentary Transfer Tax fee of approximately $5 million paid to the City of San Francisco.  The Documentary Transfer Tax fee was assessed as a condition to recording the transfer of Justice Investors' principal asset to a subsidiary to consummate the redemption.  While Justice believes the assessment of the Documentary Transfer tax was inappropriate, the tax was paid, under protest, on advice of Justice’s counsel to allow for the consummation of the redemption.  Justice intends to challenge the calculation of the tax.  No prediction can be made as to whether the tax will be upheld, or whether any portion of the tax will be refunded. Justice allocated a portion of the Documentary Transfer Tax to certain former limited partners of Justice Investors as a cost of the transaction. Certain of these limited partners have objected to the allocation, and Justice and the limited partners are pursuing non-binding mediation in an attempt to resolve the dispute.  No prediction can be given as to the outcome of the dispute.
	Justice utilized the book value method to record the redemption of the limited partners. Under book value (bonus) method the remaining partners continue the existing partnership, recording no changes to the book values of the partnership's assets and liabilities. As a result, any revaluation of the existing partnership's assets or liabilities that might be undertaken is solely to determine the settlement price to the outgoing partner. The partner's withdrawal from the partnership is recorded by adjusting the remaining partners' capital accounts with the amount of the bonus, which is allocated according to their income-sharing ratio. The amount of adjustment is equal to the difference between the settlement price paid to the withdrawing partner and the book value of his share of total partnership capital at the time he withdraws. Justice Partner’s capital was reduced by approximately $64.1 million for the redemption.
	In connection with the Offer to Redeem, Justice retired existing debt and replaced it with lower-yielding loans, the proceeds of which were used to fund the Offer to Redeem and to provide for additional working capital for the Hotel.  Justice incurred a loss on the extinguishment of debt of $3,910,000 which included a yield maintenance (prepayment penalty) expense of $3,808,000 and a write-off of capitalized loan costs on the refinanced debt of approximately $102,000.
	The City of San Francisco’s Tax Collector’s office has claimed that Justice owes the City of San Francisco $2.1 million based on the Tax Collector’s interpretation of the San Francisco Business and Tax Regulations Code relating to Transient Occupancy Tax and Tourist Improvement District Assessment. This amount exceeds Justice’s estimate of the taxes owed, and Justice has disputed the claim and is seeking to discharge all penalties and interest charges imposed by the Tax Collector.  No prediction can be given at this time as to the outcome of this dispute.
	In December 2013, Justice determined to substantially demolish the Hotel’s ground-level Spa (with the exception of the ceilings and certain mechanical systems) to build out additional meeting rooms, a technology lounge and re-locate Hotel offices. Justice believes this will result in a greater guest experience and increases in operating revenues. Justice recorded a loss of approximately $738,000 as a disposal of assets on the closure of the Hotel’s Spa on the lobby level.
Limited Partnership Agreement Amendments [Policy Text Block]	'
	Justice Loan Agreements
	On December 18, 2013: (i) Justice Operating Company, LLC, a Delaware limited liability company (“Operating”), entered into a loan agreement (“Mortgage Loan Agreement”) with Bank of America (“Mortgage Lender”); and (ii) Justice Mezzanine Company, a Delaware limited liability company (“Mezzanine”), entered into a mezzanine loan agreement (“Mezzanine Loan Agreement” and, together with the Mortgage Loan Agreement, the “Loan Agreements”) with ISBI San Francisco Mezz Lender LLC (“Mezzanine Lender” and, together with Mortgage Lender, the “Lenders”). Justice is the sole member of Mezzanine, and Mezzanine is the sole member of Operating.
	The Loan Agreements provide for a $97,000,000 Mortgage Loan and a $20,000,000 Mezzanine Loan. The proceeds of the Loan Agreements were used to fund the redemption of limited partnership interests described above and the pay-off of the prior mortgage.
	The Mortgage Loan is secured by the Partnership’s principal asset, the Hilton San Francisco-Financial District (the “Property”). The Mortgage Loan initially bears an interest rate of 5.28% per annum and matures in January 2024. The term of the loan is 10 years with interest only due in the first three years and principle and interest on the remaining seven years of the loan. The Mortgage Loan also requires payments for impounds related to property tax, insurance and capital improvement reserves. As additional security for the Mortgage Loan, there is a limited guaranty (“Mortgage Guaranty”) executed by the Company in favor of Mortgage Lender.
	The Mezzanine Loan is a secured by the Operating membership interest held by Mezzanine and is subordinated to the Mortgage Loan. The Mezzanine Loan initially bears interest at 9.75% per annum and matures in January, 2024. Interest only is payable monthly. As additional security for the Mezzanine Loan, there is a limited guaranty executed by the Company in favor of Mezzanine Lender (the “Mezzanine Guaranty” and, together with the Mortgage Guaranty, the “Guaranties”).
	The Guaranties are limited to what are commonly referred to as “bad boy” acts, including: (i) fraud or intentional misrepresentations; (ii) gross negligence or willful misconduct; (iii) misapplication or misappropriation of rents, security deposits, insurance or condemnation proceeds; and (iv) failure to pay taxes or insurance. The Guaranties will be full recourse guaranties under identified circumstances, including failure to maintain “single purpose” status, transfer of the Property in violation of the applicable loan documents and the Property becoming subject to a bankruptcy proceeding. Pursuant to the Guaranties, the Company is required to maintain a certain minimum net worth and liquidity. As of December 31, 2013, the Company is in compliance with both requirements.
	Each of the Loan Agreements contains customary representations and warranties, events of default, reporting requirements, affirmative covenants and negative covenants, which impose restrictions on, among other things, organizational changes of the respective borrower, operations of the Property, agreements with affiliates and third parties. Each of the Loan Agreements also provides for mandatory prepayments under certain circumstances (including casualty or condemnation events) and voluntary prepayments, subject to satisfaction of prescribed conditions set forth in the Loan Agreements.
Justice Ownership And Properties [Policy Text Block]	'
	Limited Partnership Agreement Amendments
	In conjunction with the Offer to Redeem, the Partnership solicited and obtained consents from holders of the requisite limited partnership interests to amendments to the Justice Amended and Restated Agreement of Limited Partnership, which became effective upon the completion of the Offer to Redeem and the consummation of the Loan Agreements. The amendments included the following changes to the Justice Amended and Restated Agreement of Limited Partnership:
		·	Providing for a single general partner;
	·      Providing for Class B limited partnership interests, which, if issued, would represent interests in the Partnership; and
		·	Permitting the General Partner to admit additional limited partners, subject to certain restrictions.

INVESTMENT_IN_HOTEL_NET_Tables

INVESTMENT IN HOTEL, NET (Tables) (Hotel [Member])	6 Months Ended
	Dec. 31, 2013
Hotel [Member]	'
Real Estate Properties [Line Items]	'
Schedule of Real Estate Properties [Table Text Block]	'
	Investment in hotel consisted of the following as of:
				Accumulated		Net Book
	December 31, 2013	Cost		Depreciation		Value
	Land	$	1,896,000	$	-	$	1,896,000
	Furniture and equipment		22,162,000		-21,296,000		866,000
	Building and improvements		54,564,000		-20,593,000		33,971,000
		$	78,622,000	$	-41,889,000	$	36,733,000
				Accumulated		Net Book
	June 30, 2013	Cost		Depreciation		Value
	Land	$	1,896,000	$	-	$	1,896,000
	Furniture and equipment		22,270,000		-19,312,000		2,958,000
	Building and improvements		54,327,000		-21,570,000		32,757,000
		$	78,493,000	$	-40,882,000	$	37,611,000

INVESTMENT_IN_REAL_ESTATE_NET_

INVESTMENT IN REAL ESTATE, NET (Tables) (Apartment Building [Member])	6 Months Ended
	Dec. 31, 2013
Apartment Building [Member]	'
Real Estate Properties [Line Items]	'
Schedule of Real Estate Properties [Table Text Block]	'
	The Company owns and operates a 27-unit and 2-unit multi-family apartment complex located in Los Angeles, California and owns land held for development located in Maui, Hawaii. Investment in real estate consisted of the following:
	As of	December 31, 2013		June 30, 2013
	Land	$	2,430,000	$	2,430,000
	Buildings, improvements and equipment		2,581,000		2,580,000
	Accumulated depreciation		-973,000		-941,000
			4,038,000		4,069,000
	Land held for development		973,000		973,000
	Investment in real estate, net	$	5,011,000	$	5,042,000

INVESTMENT_IN_MARKETABLE_SECUR1

INVESTMENT IN MARKETABLE SECURITIES (Tables)	6 Months Ended
	Dec. 31, 2013
Investments, Debt and Equity Securities [Abstract]	'
Marketable Securities [Table Text Block]	'
	Trading securities are summarized as follows:
				Gross		Gross		Net		Fair
	Investment	Cost		Unrealized Gain		Unrealized Loss		Unrealized Gain		Value
	As of December 31, 2013
	Corporate
	Equities	$	4,435,000	$	1,840,000	$	-960,000	$	880,000	$	5,315,000
	As of June 30, 2013
	Corporate
	Equities	$	4,811,000	$	1,530,000	$	-1,136,000	$	394,000	$	5,205,000
Gain (Loss) on Investments [Table Text Block]	'
	Below is the composition of the two components for the three months and six months ended December 31, 2013 and 2012, respectively.
	For the three months ended December 31,	2013		2012
	Realized gain (loss) on marketable securities	$	130,000	$	-8,000
	Unrealized gain (loss) on marketable securities		36,000		-1,124,000
	Net gain (loss) on marketable securities	$	166,000	$	-1,132,000
	For the six months ended December 31,	2013		2012
	Realized gain on marketable securities	$	19,000	$	34,000
	Unrealized gain (loss) on marketable securities		281,000		-383,000
	Net gain (loss) on marketable securities	$	300,000	$	-349,000

OTHER_INVESTMENTS_NET_Tables

OTHER INVESTMENTS, NET (Tables)	6 Months Ended
	Dec. 31, 2013
Other Investments [Abstract]	'
Other Investments [Table Text Block]	'
	Other investments, net consist of the following:
	Type	December 31, 2013		June 30, 2013
	Preferred stock - Comstock, at cost	$	6,659,000	$	6,659,000
	Private equity hedge fund, at cost		1,102,000		1,102,000
	Corporate debt and equity instruments, at cost		168,000		168,000
	Warrants - at fair value		-		4,000
		$	7,929,000	$	7,933,000

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	'
	The assets measured at fair value on a recurring basis are as follows:
	As of December 31, 2013
		Level 1		Level 2		Level 3		Total
	Assets:
	Investment in marketable securities:
	Basic materials	$	3,130,000	$	-	$	-	$	3,130,000
	Financial services		1,042,000		-		-		1,042,000
	Technology		469,000		-		-		469,000
	REITs and real estate companies		209,000		-		-		209,000
	Other		465,000		-		-		465,000
			5,315,000		-		-		5,315,000
	As of June 30, 2013
		Level 1		Level 2		Level 3		Total
	Assets:
	Cash equivalents - money market	$	3,000	$	-	$	-	$	3,000
	Other investments - warrants		-		-		4,000		4,000
	Investment in marketable securities:
	Basic materials		2,420,000		-		-		2,420,000
	Technology		989,000		-		-		989,000
	Financial services		838,000		-		-		838,000
	REITs and real estate companies		291,000		-		-		291,000
	Other		667,000		-		-		667,000
			5,205,000		-		-		5,205,000
		$	5,208,000	$	-	$	4,000	$	5,212,000
Fair Value Measurements, Nonrecurring [Table Text Block]	'
	The following table shows the fair value hierarchy for these assets measured at fair value on a non-recurring basis as follows:
										Net loss for the six months
	Assets	Level 1		Level 2		Level 3		December 31, 2013		ended December 31, 2013
	Other non-marketable investments	$	-	$	-	$	7,929,000	$	7,929,000	$	-
										Net loss for the six months
	Assets	Level 1		Level 2		Level 3		June 30, 2013		ended December 31, 2012
	Other non-marketable investments	$	-	$	-	$	7,929,000	$	7,929,000	$	-

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	6 Months Ended
	Dec. 31, 2013
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
	Operating income from investment transactions consist of net investment gain and dividend and interest income.
	As of and for the three months	Hotel		Real Estate		Investment
	ended December 31, 2013	Operations		Operations		Transactions		Other		Total
	Revenues	$	12,274,000	$	159,000	$	-	$	-	$	12,433,000
	Segment operating expenses		-17,872,000		-99,000		-		-252,000		-18,223,000
	Segment loss		-5,598,000		60,000		-		-252,000		-5,790,000
	Interest expense - mortgage		-767,000		-26,000		-		-		-793,000
	Interest expense - occupancy tax		-328,000		-		-		-		-328,000
	Loss on extinguishment of debt		-3,910,000		-		-		-		-3,910,000
	Loss on disposal of assets		-1,092,000		-		-		-		-1,092,000
	Depreciation and amortization expense		-722,000		-15,000		-		-		-737,000
	Income from investments		-		-		296,000		-		296,000
	Income tax benefit		-		-		-		2,732,000		2,732,000
	Net income (loss)	$	-12,417,000	$	19,000	$	296,000	$	2,480,000	$	-9,622,000
	Total assets	$	36,733,000	$	5,011,000	$	13,244,000	$	34,058,000	$	89,046,000
	As of and for the three months	Hotel		Real Estate		Investment
	ended December 31, 2012	Operations		Operations		Transactions		Other		Total
	Revenues	$	10,970,000	$	144,000	$	-	$	-	$	11,114,000
	Segment operating expenses		-9,398,000		-59,000		-		-254,000		-9,711,000
	Segment income (loss)		1,572,000		85,000		-		-254,000		1,403,000
	Interest expense		-660,000		-27,000		-		-		-687,000
	Depreciation and amortization expense		-591,000		-15,000		-		-		-606,000
	Loss from investments		-		-		-1,027,000		-		-1,027,000
	Income tax benefit		-		-		-		165,000		165,000
	Net income (loss)	$	321,000	$	43,000	$	-1,027,000	$	-89,000	$	-752,000
	Total assets	$	36,685,000	$	5,074,000	$	12,133,000	$	9,862,000	$	63,754,000
	As of and for the six months	Hotel		Real Estate		Investment
	ended December 31, 2013	Operations		Operations		Transactions		Other		Total
	Revenues	$	25,579,000	$	306,000	$	-	$	-	$	25,885,000
	Segment operating expenses		-27,404,000		-242,000		-		-497,000		-28,143,000
	Segment loss		-1,825,000		64,000		-		-497,000		-2,258,000
	Interest expense - mortgage		-1,402,000		-52,000		-		-		-1,454,000
	Interest expense - occupancy tax		-328,000		-		-		-		-328,000
	Loss on extinguishment of debt		-3,910,000		-		-		-		-3,910,000
	Loss on disposal of assets		-1,092,000		-		-		-		-1,092,000
	Depreciation and amortization expense		-1,346,000		-31,000		-		-		-1,377,000
	Income from investments		-		-		304,000		-		304,000
	Income tax benefit		-		-		-		2,261,000		2,261,000
	Net income (loss)	$	-9,903,000	$	-19,000	$	304,000	$	1,764,000	$	-7,854,000
	Total assets	$	36,733,000	$	5,011,000	$	13,244,000	$	34,058,000	$	89,046,000
	As of and for the six months	Hotel		Real Estate		Investment
	ended December 31, 2012	Operations		Operations		Transactions		Other		Total
	Revenues	$	23,106,000	$	282,000	$	-	$	-	$	23,388,000
	Segment operating expenses		-18,562,000		-123,000		-		-500,000		-19,185,000
	Segment income (loss)		4,544,000		159,000		-		-500,000		4,203,000
	Interest expense		-1,324,000		-57,000		-		-		-1,381,000
	Depreciation and amortization expense		-1,174,000		-31,000		-		-		-1,205,000
	Loss from investments		-		-		-477,000		-		-477,000
	Income tax expense		-		-		-		-159,000		-159,000
	Net income (loss)	$	2,046,000	$	71,000	$	-477,000	$	-659,000	$	981,000
	Total assets	$	36,685,000	$	5,074,000	$	12,133,000	$	9,862,000	$	63,754,000

BASIS_OF_PRESENTATION_AND_SIGN2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Textual) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2013
Basis Of Presentation And Significant Accounting Policies [Line Items]	'	'	'	'	'
Percentage Of Limited Partnership Interests Redeemed	29.17%	'	29.17%	'	'
Payments For Redemption of Each One Percent Limited Partnership Interest	$1,385,000	'	$1,385,000	'	'
Alternate Redemption Structure, Approximate Percentage Of Limited Partnership Interest Holders Allowed	17.15%	'	17.15%	'	'
Restricted Cash Redemption	19,091,000	'	19,091,000	'	0
Management Fee Expense	'	'	1,550,000	'	'
Professional Fees	'	'	745,000	'	'
Documentary Transfer Tax Fee	5,000,000	'	5,000,000	'	'
Prepayment Penalty Expenses	'	'	3,808,000	'	'
Gains (Losses) on Extinguishment of Debt, Total	3,910,000	0	3,910,000	0	'
Write off of Deferred Debt Issuance Cost	'	'	102,000	'	'
Gain (Loss) on Disposition of Assets for Financial Service Operations	'	'	738,000	'	'
Restructuring Costs, Total	7,295,000	0	7,295,000	0	'
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest	'	'	50.00%	'	'
Conventional Mortgage Loan [Member]	'	'	'	'	'
Basis Of Presentation And Significant Accounting Policies [Line Items]	'	'	'	'	'
Proceeds from Loan Originations	'	'	97,000,000	'	'
Short-term Debt, Percentage Bearing Fixed Interest Rate	5.28%	'	5.28%	'	'
Debt Instrument, Maturity Date, Description	'	'	'The term of the loan is 10 years with interest only due in the first three years and principle and interest on the remaining seven years of the loan.	'	'
Mezzanine Loan [Member]	'	'	'	'	'
Basis Of Presentation And Significant Accounting Policies [Line Items]	'	'	'	'	'
Proceeds from Loan Originations	'	'	20,000,000	'	'
Short-term Debt, Percentage Bearing Fixed Interest Rate	9.75%	'	9.75%	'	'
Portsmouth [Member]	'	'	'	'	'
Basis Of Presentation And Significant Accounting Policies [Line Items]	'	'	'	'	'
Equity Method Investment, Ownership Percentage	68.80%	'	68.80%	'	'
Intergroup [Member]	'	'	'	'	'
Basis Of Presentation And Significant Accounting Policies [Line Items]	'	'	'	'	'
Equity Method Investment, Ownership Percentage	80.50%	'	80.50%	'	'
Noncontrolling Interest, Ownership Percentage by Parent	12.90%	'	12.90%	'	'
Woodland Village Inc [Member]	'	'	'	'	'
Basis Of Presentation And Significant Accounting Policies [Line Items]	'	'	'	'	'
Equity Method Investment, Ownership Percentage	55.40%	'	55.40%	'	'
Justice Investors [Member]	'	'	'	'	'
Basis Of Presentation And Significant Accounting Policies [Line Items]	'	'	'	'	'
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest	'	'	93.00%	'	'
Reduction In Capital Due To Redemption	64,100,000	'	64,100,000	'	'
City of San Francisco [Member]	'	'	'	'	'
Basis Of Presentation And Significant Accounting Policies [Line Items]	'	'	'	'	'
Deferred Tax Liabilities, Net	$2,100,000	'	$2,100,000	'	'

INVESTMENT_IN_HOTEL_NET_Detail

INVESTMENT IN HOTEL, NET (Details) (Hotel [Member], USD $)	Dec. 31, 2013	Jun. 30, 2013
Property, Plant and Equipment [Line Items]	'	'
Cost	$78,622,000	$78,493,000
Accumulated Depreciation	-41,889,000	-40,882,000
Net Book Value	36,733,000	37,611,000
Land [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	1,896,000	1,896,000
Accumulated Depreciation	0	0
Net Book Value	1,896,000	1,896,000
Furniture and Fixtures [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	22,162,000	22,270,000
Accumulated Depreciation	-21,296,000	-19,312,000
Net Book Value	866,000	2,958,000
Building Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	54,564,000	54,327,000
Accumulated Depreciation	-20,593,000	-21,570,000
Net Book Value	$33,971,000	$32,757,000

INVESTMENT_IN_REAL_ESTATE_NET_1

INVESTMENT IN REAL ESTATE, NET (Details) (USD $)	Dec. 31, 2013	Jun. 30, 2013
Property, Plant and Equipment [Line Items]	'	'
Investment in real estate, net	$36,733,000	$37,611,000
Apartment Building [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Accumulated Depreciation	-973,000	-941,000
Real Estate Investments, Net	4,038,000	4,069,000
Land held for development	973,000	973,000
Investment in real estate, net	5,011,000	5,042,000
Land [Member] | Apartment Building [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	2,430,000	2,430,000
Buildings Improvements and Equipment [Member] | Apartment Building [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	$2,581,000	$2,580,000

INVESTMENT_IN_MARKETABLE_SECUR2

INVESTMENT IN MARKETABLE SECURITIES (Details) (USD $)	3 Months Ended		6 Months Ended			6 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2013	Dec. 31, 2013	Jun. 30, 2013
						Equity Securities [Member]	Equity Securities [Member]
Investment - Corporate Equities	'	'	'	'	'	'	'
Cost	'	'	'	'	'	$4,435,000	$4,811,000
Gross Unrealized Gain	'	'	'	'	'	1,840,000	1,530,000
Gross Unrealized Loss	'	'	'	'	'	-960,000	-1,136,000
Net Unrealized Gain	36,000	-1,124,000	281,000	-383,000	'	880,000	394,000
Fair Value	$5,315,000	'	$5,315,000	'	$5,205,000	$5,315,000	$5,205,000

INVESTMENT_IN_MARKETABLE_SECUR3

INVESTMENT IN MARKETABLE SECURITIES (Details 1) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Schedule of Trading Securities and Other Trading Assets [Line Items]	'	'	'	'
Realized gain on marketable securities	$130,000	($8,000)	$19,000	$34,000
Unrealized gain (loss) on marketable securities	36,000	-1,124,000	281,000	-383,000
Net gain (loss) on marketable securities	$166,000	($1,132,000)	$300,000	($349,000)

INVESTMENT_IN_MARKETABLE_SECUR4

INVESTMENT IN MARKETABLE SECURITIES (Details Textual) (USD $)	6 Months Ended	12 Months Ended
	Dec. 31, 2013	Jun. 30, 2013
Schedule of Trading Securities and Other Trading Assets [Line Items]	'	'
Trading Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss	$882,000	$902,000

OTHER_INVESTMENTS_NET_Details

OTHER INVESTMENTS, NET (Details) (USD $)	Dec. 31, 2013	Jun. 30, 2013
Other Investment [Line Items]	'	'
Other investments, net	$7,929,000	$7,933,000
Warrant [Member]	'	'
Other Investment [Line Items]	'	'
Other investments, net	0	4,000
Corporate Debt And Equity Instruments, At Cost [Member]	'	'
Other Investment [Line Items]	'	'
Other investments, net	168,000	168,000
Private Equity Hedge Fund, At Cost [Member]	'	'
Other Investment [Line Items]	'	'
Other investments, net	1,102,000	1,102,000
Preferred Stock - Comstock, At Cost [Member]	'	'
Other Investment [Line Items]	'	'
Other investments, net	$6,659,000	$6,659,000

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (USD $)	Dec. 31, 2013	Jun. 30, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Cash equivalents - money market	'	$3,000
Other investments - warrants	'	4,000
Investment in marketable securities	5,315,000	5,205,000
Assets, Fair Value Disclosure	'	5,212,000
Fair Value, Inputs, Level 1 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Cash equivalents - money market	'	3,000
Other investments - warrants	'	0
Investment in marketable securities	5,315,000	5,205,000
Assets, Fair Value Disclosure	'	5,208,000
Fair Value, Inputs, Level 2 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Cash equivalents - money market	'	0
Other investments - warrants	'	0
Investment in marketable securities	0	0
Assets, Fair Value Disclosure	'	0
Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Cash equivalents - money market	'	0
Other investments - warrants	'	4,000
Investment in marketable securities	0	0
Assets, Fair Value Disclosure	'	4,000
Basic Materials [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	3,130,000	2,420,000
Basic Materials [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	3,130,000	2,420,000
Basic Materials [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	0	0
Basic Materials [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	0	0
Financial Services [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	1,042,000	838,000
Financial Services [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	1,042,000	838,000
Financial Services [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	0	0
Financial Services [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	0	0
Technology [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	469,000	989,000
Technology [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	469,000	989,000
Technology [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	0	0
Technology [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	0	0
Reits and Real Estate Companies [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	209,000	291,000
Reits and Real Estate Companies [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	209,000	291,000
Reits and Real Estate Companies [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	0	0
Reits and Real Estate Companies [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	0	0
Others [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	465,000	667,000
Others [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	465,000	667,000
Others [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	0	0
Others [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Investment in marketable securities	$0	$0

FAIR_VALUE_MEASUREMENTS_Detail1

FAIR VALUE MEASUREMENTS (Details 1) (Other Investments [Member], USD $)	6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'	'
Other non-marketable investments	$7,929,000	'	$7,929,000
Net loss	0	0	'
Fair Value, Inputs, Level 1 [Member]	'	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'	'
Other non-marketable investments	0	'	0
Fair Value, Inputs, Level 2 [Member]	'	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'	'
Other non-marketable investments	0	'	0
Fair Value, Inputs, Level 3 [Member]	'	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'	'
Other non-marketable investments	$7,929,000	'	$7,929,000

FAIR_VALUE_MEASUREMENTS_Detail2

FAIR VALUE MEASUREMENTS (Details Textual)	6 Months Ended
	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Cost Method Investments, Additional Information	'Other investments in non-marketable securities are carried at cost net of any impairment loss. The Company has no significant influence or control over the entities that issue these investments and holds less than 20% ownership in each of the investments.

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2013
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	$12,433,000	$11,114,000	$25,885,000	$23,388,000	'
Segment operating expenses	-18,223,000	-9,711,000	-28,143,000	-19,185,000	'
Segment loss	-5,790,000	1,403,000	-2,258,000	4,203,000	'
Interest expense - mortgage	-793,000	-687,000	-1,454,000	-1,381,000	'
Interest expense - occupancy tax	-328,000	0	-328,000	0	'
Loss on extinguishment of debt	-3,910,000	0	-3,910,000	0	'
Loss on disposal of assets	-1,092,000	0	-1,092,000	0	'
Depreciation and amortization expense	-737,000	-606,000	-1,377,000	-1,205,000	'
Income from investments	296,000	-1,027,000	304,000	-477,000	'
Income tax benefit	2,732,000	165,000	2,261,000	-159,000	'
Net income (loss)	-9,622,000	-752,000	-7,854,000	981,000	'
Total assets	89,046,000	63,754,000	89,046,000	63,754,000	64,733,000
Hotel [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	12,274,000	10,970,000	25,579,000	23,106,000	'
Segment operating expenses	-17,872,000	-9,398,000	-27,404,000	-18,562,000	'
Segment loss	-5,598,000	1,572,000	-1,825,000	4,544,000	'
Interest expense - mortgage	-767,000	-660,000	-1,402,000	-1,324,000	'
Interest expense - occupancy tax	-328,000	'	-328,000	'	'
Loss on extinguishment of debt	-3,910,000	'	-3,910,000	'	'
Loss on disposal of assets	-1,092,000	'	-1,092,000	'	'
Depreciation and amortization expense	-722,000	-591,000	-1,346,000	-1,174,000	'
Income from investments	0	0	0	0	'
Income tax benefit	0	0	0	0	'
Net income (loss)	-12,417,000	321,000	-9,903,000	2,046,000	'
Total assets	36,733,000	36,685,000	36,733,000	36,685,000	'
Apartment Building [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	159,000	144,000	306,000	282,000	'
Segment operating expenses	-99,000	-59,000	-242,000	-123,000	'
Segment loss	60,000	85,000	64,000	159,000	'
Interest expense - mortgage	-26,000	-27,000	-52,000	-57,000	'
Interest expense - occupancy tax	0	'	0	'	'
Loss on extinguishment of debt	0	'	0	'	'
Loss on disposal of assets	0	'	0	'	'
Depreciation and amortization expense	-15,000	-15,000	-31,000	-31,000	'
Income from investments	0	0	0	0	'
Income tax benefit	0	0	0	0	'
Net income (loss)	19,000	43,000	-19,000	71,000	'
Total assets	5,011,000	5,074,000	5,011,000	5,074,000	'
Investment Transactions [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	0	0	0	0	'
Segment operating expenses	0	0	0	0	'
Segment loss	0	0	0	0	'
Interest expense - mortgage	0	0	0	0	'
Interest expense - occupancy tax	0	'	0	'	'
Loss on extinguishment of debt	0	'	0	'	'
Loss on disposal of assets	0	'	0	'	'
Depreciation and amortization expense	0	0	0	0	'
Income from investments	296,000	-1,027,000	304,000	-477,000	'
Income tax benefit	0	0	0	0	'
Net income (loss)	296,000	-1,027,000	304,000	-477,000	'
Total assets	13,244,000	12,133,000	13,244,000	12,133,000	'
Other Property [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Revenues	0	0	0	0	'
Segment operating expenses	-252,000	-254,000	-497,000	-500,000	'
Segment loss	-252,000	-254,000	-497,000	-500,000	'
Interest expense - mortgage	0	0	0	0	'
Interest expense - occupancy tax	0	'	0	'	'
Loss on extinguishment of debt	0	'	0	'	'
Loss on disposal of assets	0	'	0	'	'
Depreciation and amortization expense	0	0	0	0	'
Income from investments	0	0	0	0	'
Income tax benefit	2,732,000	165,000	2,261,000	-159,000	'
Net income (loss)	2,480,000	-89,000	1,764,000	-659,000	'
Total assets	$34,058,000	$9,862,000	$34,058,000	$9,862,000	'

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details Textual) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Related Party Transaction [Line Items]	'	'	'	'
Management Fees Revenue, Total	$108,000	$89,000	$220,000	$201,000
Costs and Expenses, Related Party	36,000	36,000	72,000	72,000
Management Fee Expense	'	'	$1,550,000	'