Santa Fe Financial (SFEF) 10-K 4 Sep 15 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2015	Aug. 20, 2015	Dec. 31, 2014
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Registrant Name	SANTA FE FINANCIAL CORP
Entity Central Index Key	86,759
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Accelerated Filer
Entity Public Float			$ 3,025,000
Trading Symbol	SFEF
Entity Common Stock, Shares Outstanding		1,241,810

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - Entity [Domain] - USD ($)	Jun. 30, 2015	Jun. 30, 2014
ASSETS
Investment in Hotel, net	$ 39,938,000	$ 37,883,000
Investment in real estate, net	4,972,000	4,981,000
Investment in marketable securities	1,955,000	4,931,000
Other investments, net	7,711,000	8,210,000
Cash and cash equivalents	1,146,000	1,139,000
Restricted cash - redemption	0	16,163,000
Restricted cash - mortgage impounds	656,000	944,000
Accounts receivable - Hotel, net	6,791,000	1,964,000
Other assets, net	4,366,000	4,858,000
Deferred tax assets	8,351,000	7,246,000
Total assets	75,886,000	88,319,000
Liabilities:
Accounts payable and other liabilities	15,975,000	16,893,000
Redemption payable	0	16,163,000
Due to securities broker	0	998,000
Obligations for securities sold	0	102,000
Relatd party and other notes payable	9,155,000	282,000
Mortgage notes payable - real estate	3,410,000	3,472,000
Mortgage notes payable - Hotel	117,000,000	117,000,000
Total liabilities	$ 145,540,000	$ 154,910,000
Commitments and contingencies
Shareholders' deficit:
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	8,808,000	8,808,000
Accumulated deficit	(52,746,000)	(50,259,000)
Treasury stock, at cost, 97,828 shares	(951,000)	(951,000)
Total Santa Fe shareholders' deficit	(44,755,000)	(42,268,000)
Noncontrolling interest	(24,899,000)	(24,323,000)
Total shareholders' deficit	(69,654,000)	(66,591,000)
Total liabilities and shareholders' deficit	$ 75,886,000	$ 88,319,000

CONSOLIDATED BALANCE SHEETS _Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares	Jun. 30, 2015	Jun. 30, 2014
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

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Hotel	$ 56,811,000	$ 50,963,000
Real estate	618,000	633,000
Total revenues	57,429,000	51,596,000
Costs and operating expenses:
Hotel operating expenses	(47,016,000)	(40,805,000)
Hotel restructuring costs	0	(6,681,000)
Hotel occupancy tax - penalty fees	0	(1,278,000)
Real estate operating expenses	(287,000)	(382,000)
Depreciation and amortization expense	(2,863,000)	(2,534,000)
General and administrative expense	(961,000)	(954,000)
Total costs and operating expenses	(51,127,000)	(52,634,000)
Income (loss) from operations	6,302,000	(1,038,000)
Other income (expense):
Interest expense - mortgage	(7,886,000)	(5,062,000)
Interest expense - occupancy tax	0	(328,000)
Loss on extinguishment of debt	0	(3,910,000)
Loss on disposal of assets	(47,000)	(1,092,000)
Net (loss) gain on marketable securities	(2,009,000)	333,000
Net unrealized (loss) gain on other investments	(116,000)	104,000
Impairment loss on other investments	(432,000)	(63,000)
Dividend and interest income	522,000	539,000
Trading and margin interest expense	(478,000)	(510,000)
Net other expense	(10,446,000)	(9,989,000)
Loss before income taxes	(4,144,000)	(11,027,000)
Income tax benefit	1,081,000	4,000,000
Net loss	(3,063,000)	(7,027,000)
Less: Net loss attributable to the noncontrolling interest	576,000	1,928,000
Net loss attributable to Santa Fe	$ (2,487,000)	$ (5,099,000)
Basic and diluted loss per share attributable to Santa Fe (in dollars per share)	$ (2)	$ (4.11)
Weighted average number of common shares outstanding (in shares)	1,241,810	1,241,810

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Shareholders' Equity [Member]	Noncontrolling Interest [Member]
Balance at Jun. 30, 2013	$ 4,588,000	$ 134,000	$ 8,808,000	$ (205,000)	$ (951,000)	$ 7,786,000	$ (3,198,000)
Balance (in shares) at Jun. 30, 2013		1,339,638
Net loss	(7,027,000)	$ 0	0	(5,099,000)	0	(5,099,000)	(1,928,000)
Redemption of limited partnership interests	(64,152,000)	0	0	(65,298,000)	0	(65,298,000)	1,146,000
Allocation of accumulated deficit of Justice to noncontrolling interest relating to the redemption of limited parthership interests	0	0	0	20,343,000	0	20,343,000	(20,343,000)
Balance at Jun. 30, 2014	(66,591,000)	$ 134,000	8,808,000	(50,259,000)	(951,000)	(42,268,000)	(24,323,000)
Balance (in shares) at Jun. 30, 2014		1,339,638
Net loss	(3,063,000)	$ 0	0	(2,487,000)	0	(2,487,000)	(576,000)
Balance at Jun. 30, 2015	$ (69,654,000)	$ 134,000	$ 8,808,000	$ (52,746,000)	$ (951,000)	$ (44,755,000)	$ (24,899,000)
Balance (in shares) at Jun. 30, 2015		1,339,638

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (3,063,000)	$ (7,027,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Net unrealized loss (gain) on marketable securities	1,384,000	(50,000)
Unrealized loss (gain) on other investments	116,000	(104,000)
Impairment loss on other investments	432,000	63,000
Loss on extinguishment of debt	0	3,910,000
Loss on disposal of assets	47,000	1,092,000
Depreciation and amortization	2,739,000	2,534,000
Changes in assets and liabilities:
Investment in marketable securities	1,592,000	324,000
Accounts receivable - hotel, net	(597,000)	(7,000)
Other assets, net	683,000	(1,890,000)
Accounts payable and other liabilities	(918,000)	7,049,000
Due to securities broker	(998,000)	166,000
Obligations for securities sold	(102,000)	(826,000)
Deferred tax asset	(1,105,000)	(4,053,000)
Net cash provided by operating activities	210,000	1,181,000
Cash flows from investing activities:
Hotel and real estate investments	(5,023,000)	(3,699,000)
Other investments, net	(49,000)	(236,000)
Net cash used in investing activities	(5,072,000)	(3,935,000)
Cash flows from financing activities:
Proceeds from mortgage notes payable	0	117,000,000
Proceeds (payments) of mortgage and other notes payable	4,643,000	(48,698,000)
Restricted cash provided (used) for redemption and mortgage impounds	16,389,000	(17,108,000)
Distributions and redemption to noncontrolling interest	(16,163,000)	(47,989,000)
Net cash provided by financing activities	4,869,000	3,205,000
Net increase in cash and cash equivalents:	7,000	451,000
Cash and cash equivalents at beginning of year	1,139,000	688,000
Cash and cash equivalents at end of year	1,146,000	1,139,000
Supplemental information:
Income tax paid	84,000	27,000
Interest paid	$ 7,989,000	$ 5,192,000

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES Santa Fe Financial Corporation, a Nevada corporation, (“Santa Fe” or the “Company”) owns approximately 68.8 81.3 13.1 Portsmouth’s primary business is conducted through its general and limited partnership interest in Justice Investors, a California limited partnership (“Justice” or the “Partnership”). 93 Justice, through its subsidiaries Justice Holdings Company, LLC (“Holdings”), a Delaware Limited Liability Company, Justice Operating Company, LLC (“Operating”) and Justice Mezzanine Company, LLC (“Mezzanine”), 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. Holdings and Mezzanine are both a wholly-owned subsidiaries of the Partnership; Operating is a wholly-owned subsidiary of Mezzanine. Mezzanine is the Mezzanine borrower under certain indebtedness of Justice, and in December 2013, the Partnership conveyed ownership of the Hotel to Operating. The Hotel is operated by the partnership as a full service Hilton brand hotel pursuant to a Franchise License Agreement with HLT Franchise Holding LLC (Hilton) . Justice also has a Management Agreement with Prism Hospitality L.P. (“Prism”) to perform management functions for the Hotel. The management agreement with Prism had an original term of ten years and can be terminated at any time with or without cause by the Partnership owner. Effective January 2014, the management agreement with Prism was amended by the Partnership. Effective December 1, 2013, GMP Management, Inc., a company owned by a Justice limited partner and related party, also provides management services for the Partnership pursuant to a Management Services Agreement, which is for a term of 3 years, but which can be terminated earlier by the Partnership for cause. In addition to the operations of the Hotel, the Company also generates income from the ownership and management of real estate. On December 31, 1997, the Company acquired a controlling 55.4 The consolidated financial statements include the accounts of the Company, Portsmouth and Woodland Village. All significant inter-company transactions and balances have been eliminated. Property and equipment are stated at cost. Building improvements are being depreciated on a straight-line basis over their useful lives ranging from 3 39 3 7 Repairs and maintenance are charged to expense as incurred. Costs of significant renewals and improvements are capitalized and depreciated over the shorter of its remaining estimated useful life or life of the asset. The cost of assets sold or retired and the related accumulated depreciation are removed from the accounts; any resulting gain or loss is included in other income (expenses). The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with generally accepted accounting principles (“GAAP”). If the carrying amount of the asset, including any intangible assets associated with that asset, exceeds its estimated undiscounted net cash flow, before interest, the Partnership will recognize an impairment loss equal to the difference between its carrying amount and its estimated fair value. If impairment is recognized, the reduced carrying amount of the asset will be accounted for as its new cost. For a depreciable asset, the new cost will be depreciated over the asset’s remaining useful life. Generally, fair values are estimated using discounted cash flow, replacement cost or market comparison analyses. The process of evaluating for impairment requires estimates as to future events and conditions, which are subject to varying market and economic factors. Therefore, it is reasonably possible that a change in estimate resulting from judgments as to future events could occur which would affect the recorded amounts of the property. No impairment losses were recorded for the years ended June 30, 2015 and 2014. Rental properties are stated at cost less accumulated depreciation. Depreciation of rental property is provided on the straight-line method based upon estimated useful lives of 5 40 5 10 The Company also reviews its rental property assets for impairment. No impairment losses on the investment in real estate have been recorded for the years ended June 30, 2015 and 2014. Marketable securities are stated at fair value as determined by the most recently traded price of each security at the balance sheet date. Marketable securities are classified as trading securities with all unrealized gains and losses on the Company's investment portfolio recorded through the consolidated statements of operations. Other investments include non-marketable securities (carried at cost, net of any impairments loss), non –marketable warrants (carried at fair value) and certain convertible preferred securities, received in exchange for debt instruments, carried at a book basis, initially determined using the estimated fair value on the exchange date. The Company has no significant influence or control over the entities that issue these 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. For the years ended June 30, 2015 and 2014, the Company recorded impairment losses related to other investments of $ 432,000 63,000 3,368,000 2,936,000 The Company has investments in stock warrants that are considered derivative instruments. Derivative financial instruments consist of financial instruments or other contracts that contain a notional amount and one or more underlying (e.g. interest rate, security price or other variable), require no initial net investment and permit net settlement. Derivative financial instruments may be free-standing or embedded in other financial instruments. Further, derivative financial instruments are initially, and subsequently, measured at fair value on the Company’s consolidated balance sheet with the related unrealized gain or loss recorded in the Company’s consolidated statement of operations. The Company used the Black-Scholes option valuation model to estimate the fair value these instruments which requires management to make significant assumptions including trading volatility, estimated terms, and risk free rates. Estimating fair values of derivative financial instruments requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. In addition, option-based models are highly volatile and sensitive to changes in the trading market price of the underlying common stock, which has a high-historical volatility. Since derivative financial instruments are initially and subsequently carried at fair values, the Company’s consolidated statement of operations will reflect the volatility in these estimates and assumption changes. Cash equivalents consist of highly liquid investments with an original maturity of three months or less when purchased and are carried at cost, which approximates fair value. Restricted cash is comprised of amounts held by lenders for payment of real estate taxes, insurance, replacement, capital addition reserves for the Hotel and the funds held by Justice to implement the alternate redemption structure for those partners who elected that structure. Accounts receivable from Hotel customers are carried at cost less an allowance for doubtful accounts that is based on management’s assessment of the collectability of accounts receivable. The Partnership extends unsecured credit to its customers but mitigates the associated credit risk by performing ongoing credit evaluations of its customers. Other assets include prepaid insurance, loan fees, franchise fees, license fees, occupancy tax deposits and other miscellaneous assets. Loan fees are stated at cost and amortized over the term of the loan using the effective interest method. Franchise fees are stated at cost and amortized over the life of the agreement ( 15 10 Deferred income taxes are calculated under the liability method. Deferred income tax assets and liabilities are based on differences between the financial statement and tax basis of assets and liabilities at the current enacted tax rates. Changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted tax rates are charged or credited to income tax expense in the period of enactment. Valuation allowances are established for certain deferred tax assets where realization is not likely. Assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the “more-likely-than-not” threshold based on the technical merits of the positions. Various securities brokers have advanced funds to the Company for the purchase of marketable securities under standard margin agreements. These advanced funds are recorded as a liability. Obligation for securities sold represents the fair market value of shares sold with the promise to deliver that security at some future date and the fair market value of shares underlying the written call options with the obligation to deliver that security when and if the option is exercised. The obligation may be satisfied with current holdings of the same security or by subsequent purchases of that security. Unrealized gains and losses from changes in the obligation are included in the statement of operations. Accounts payable and other liabilities include trade payables, customer advance deposits and other liabilities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. Accounting standards for fair value measurement establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the observability of inputs as follows: Level 1 Level 2 Level 3 The Company records the acquisition of treasury stock under the cost method. Room revenue is recognized on the date upon which a guest occupies a room and/or utilizes the Hotel’s services. Food and beverage revenues are recognized upon delivery. Garage revenue is recognized when a guest uses the garage space. The Company records a liability for payments collected in advance of revenue recognition. This liability is included in Accounts payable and other liabilities. Revenue recognition from apartment rentals commences when an apartment unit is placed in service and occupied by a rent-paying tenant. Apartment units are leased on a short-term basis, with no lease extending beyond one year. Advertising costs are expensed as incurred. Advertising costs were $ 459,000 434,000 Basic loss per share is calculated based upon the weighted average number of common shares outstanding during each fiscal year. As of June 30, 2015 and 2014, the Company did not have any potentially dilutive securities outstanding. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses. Such estimates primarily relate to unsettled transactions and events as of the date of the financial statements. Accordingly, upon settlement, actual results may differ from estimated amounts. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs We are in the process of evaluating this guidance. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, In April 2014, the FASB issued ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment We are in the process of evaluating this guidance and we have no plan to discontinue use of any significant assets. In May 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standard Update No. 2014-09, Revenue from Contracts with Customers In August 2014, the FASB issued Accounting Standard Update No. 2014-15, Presentation of Financial Statements Going Concern In July 2015, the FASB issued Accounting Standard Update No. 2015-11, Simplifying the Measurement of Inventory

JUSTICE INVESTORS

JUSTICE INVESTORS	12 Months Ended
	Jun. 30, 2015
Justice Investors [Abstract]
Justice Investors [Text Block]	NOTE 2 - JUSTICE INVESTORS Justice Investors, a California limited partnership (“Justice” or the “Partnership”), was formed in 1967 to acquire real property in San Francisco, California, for the development and lease of the Hotel (described below) and related facilities. The Partnership has one general partner, Portsmouth Square, Inc., a California corporation (“Portsmouth”) and approximately 24 voting limited partners, including Portsmouth. Effective December 1, 2008, Portsmouth and Evon Corporation, a California corporation (“Evon”), as the two general partners of Justice, entered into a 2008 Amendment to the Limited Partnership agreement (the “Amendment”) that provided for a change in the respective roles of the general partners. Pursuant to the Amendment, Portsmouth assumed the role of managing general partner and Evon continued on as the co-general partner of Justice. The Amendment was ratified by approximately 98 75 Concurrent with the Amendment, a new General Partner Compensation Agreement (the “Compensation Agreement”) was entered into on December 1, 2008, among Justice, Portsmouth and Evon to terminate and supersede all prior compensation agreements for the general partners. Pursuant to the Compensation Agreement, the general partners of Justice were entitled to receive an amount equal to 1.5 75,000 285,000 80 20 50 In December 2013, the Partnership determined to restructure its ownership to facilitate a refinancing of the Hotel and redeem the interests of certain Partners, including Evon. In the course of this refinancing, restructuring and redemption, the Partnership created three subsidiaries: Justice Holdings Company, LLC (“Holdings”), a Delaware Limited Liability Company, Justice Operating Company, LLC (“Operating”) and Justice Mezzanine Company, LLC (“Mezzanine”). Holdings and Mezzanine are each wholly-owned subsidiaries of the Partnership; Operating is a wholly-owned subsidiary of Mezzanine. Mezzanine is the Mezzanine borrower and in December 2013, the Partnership conveyed ownership of the Hotel to Operating. On December 18, 2013, the Partnership completed an Offer to Redeem any and all limited partnership interests not held by Portsmouth. In addition, the Partnership approved amendments to the Amended and Restated Agreement of Limited Partnership, which amendments became effective upon the completion of the Offer to Redeem and the consummation of the Loan Agreements. Such amendments are described below. As a result, Portsmouth, which prior to the Offer to Redeem owned 50 93 Pursuant to the Offer to Redeem, the Partnership accepted tenders, for cash, from Evon, and seventy-three of the Partnership’s limited partners representing approximately 29.173 1,385,000 1 In addition, the Partnership accepted the election of holders of approximately 17.146 1,385,000 1 16,163,000 2,928,000 The Partnership incurred approximately $ 6,681,000 1,550,000 431,000 4.7 In connection with the Offer to Redeem, the Partnership 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. The Partnership incurred a loss on the extinguishment of debt of $ 3,910,000 3,808,000 102,000 As of June 30, 2015 and 2014, the Partnership had an accumulated deficit. That accumulated deficit is primarily attributable to the redemption of certain limited partners, effective December 18, 2013. The Partnership 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 Management believes that the revenues and cash flows expected to be generated from the operations of the Hotel, garage and leases will be sufficient to meet all of the Partnership’s current and future obligations and financial requirements. Management also believes that there is significant appreciated value in the Hotel property in excess of the net book value to support additional borrowings, if necessary.

INVESTMENT IN HOTEL, NET

INVESTMENT IN HOTEL, NET	12 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Real Estate Disclosure [Text Block]	NOTE 3 – INVESTMENT IN HOTEL, NET Accumulated Net Book June 30, 2015 Cost Depreciation Value Land $ 1,896,000 $ - $ 1,896,000 Furniture and equipment 25,958,000 (21,605,000) 4,353,000 Building and improvements 57,494,000 (23,805,000) 33,689,000 $ 85,348,000 $ (45,410,000) $ 39,938,000 Accumulated Net Book June 30, 2014 Cost Depreciation Value Land $ 1,896,000 $ - $ 1,896,000 Furniture and equipment 23,306,000 (20,074,000) 3,232,000 Building and improvements 55,281,000 (22,526,000) 32,755,000 $ 80,483,000 $ (42,600,000) $ 37,883,000 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 in Fiscal 2014. Justice recorded a loss of approximately $ 738,000

INVESTMENT IN REAL ESTATE, NET

INVESTMENT IN REAL ESTATE, NET	12 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Investment In Real Estate [Text Block]	NOTE 4 – INVESTMENT IN REAL ESTATE, NET 2015 2014 Land $ 2,430,000 $ 2,430,000 Buildings, improvements and equipment 2,634,000 2,580,000 Accumulated depreciation (1,065,000) (1,002,000) 3,999,000 4,008,000 Land held for development 973,000 973,000 Investment in real estate, net $ 4,972,000 $ 4,981,000 Depreciation expense for the years ended June 30, 2015 and 2014 was $ 62,000 63,000 In August 2007, Portsmouth agreed to acquire 50 100 973,000

INVESTMENT IN MARKETABLE SECURI

INVESTMENT IN MARKETABLE SECURITIES	12 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	NOTE 5 - INVESTMENT IN MARKETABLE SECURITIES The Company’s investment in marketable securities consists primarily of corporate equities. The Company has also periodically 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. Gross Gross Net Fair Investment Cost Unrealized Gain Unrealized Loss Unrealized (Loss) Gain Value As of June 30, 2015 Corporate Equities $ 3,016,000 $ 368,000 $ (1,429,000) $ (1,061,000) $ 1,955,000 As of June 30, 2014 Corporate Equities $ 4,603,000 $ 1,250,000 $ (922,000) $ 328,000 $ 4,931,000 As of June 30, 2015 and 2014, the Company had $ 1,420,000 901,000 For the year ended June 30, 2015 2014 Realized (loss) gain on marketable securities $ (625,000) $ 283,000 Unrealized (loss) gain on marketable securities (1,384,000) 50,000 Net (loss) gain on marketable securities $ (2,009,000) $ 333,000

OTHER INVESTMENTS, NET

OTHER INVESTMENTS, NET	12 Months Ended
	Jun. 30, 2015
Investments, All Other Investments [Abstract]
Other Investments Disclosure [Text Block]	NOTE 6 – 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. Type June 30, 2015 June 30, 2014 Preferred stock - Comstock, at cost $ 6,659,000 $ 6,659,000 Private equity hedge fund, at cost 777,000 1,025,000 Corporate debt and equity instruments, at cost - 168,000 Other preferred stock 223,000 240,000 Warrants - at fair value 52,000 118,000 $ 7,711,000 $ 8,210,000 As of June 30, 2015, the Company had $ 6,659,000 6,659 On August 27, 2015, all of such preferred stock was converted into common stock of Comstock. As of June 30, 2015 and 2014, the Company had investments in corporate debt and equity instruments which had attached warrants that were considered derivative instruments. These warrants have an allocated cost basis of $ 267,000 257,000 52,000 118,000 66,000 104,000

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	NOTE 7 - 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). As of June 30, 2015 Assets: Level 1 Level 2 Level 3 Total Other investments - warrants $ - $ - $ 52,000 $ 52,000 Investment in marketable securities: Basic materials 1,392,000 - - 1,392,000 Financial services 196,000 - - 196,000 Industrial goods 102,000 - - 102,000 REITs and real estate companies 125,000 - - 125,000 Other 140,000 - - 140,000 1,955,000 - - 1,955,000 $ 1,955,000 $ - $ 52,000 $ 2,007,000 As of June 30, 2014 Assets: Level 1 Level 2 Level 3 Total Other investments - warrants $ - $ - $ 118,000 $ 118,000 Investment in marketable securities: Basic materials 2,657,000 - - 2,657,000 Technology 479,000 - - 479,000 Financial services 287,000 - - 287,000 REITs and real estate companies 278,000 - - 278,000 Other 1,230,000 - - 1,230,000 4,931,000 - - 4,931,000 $ 4,931,000 $ - $ 118,000 $ 5,049,000 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 in 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). Net loss for the year Assets Level 1 Level 2 Level 3 June 30, 2015 ended June 30, 2015 Other non-marketable investments $ - $ - $ 7,659,000 $ 7,659,000 $ (432,000) Net loss for the year Assets Level 1 Level 2 Level 3 June 30, 2014 ended June 30, 2014 Other non-marketable investments $ - $ - $ 8,092,000 $ 8,092,000 $ (63,000) 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. These investments are reviewed on a periodic basis for other-than-temporary impairment. When determining the fair value of these investments on a non-recurring basis, the Company uses valuation techniques such as the market approach and the unobservable inputs include factors such as conversion ratios and the stock price of the underlying convertible instruments. 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.

OTHER ASSETS, NET

OTHER ASSETS, NET	12 Months Ended
	Jun. 30, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets Disclosure [Text Block]	NOTE 8 – OTHER ASSETS, NET 2015 2014 Inventory - Hotel $ 256,000 $ 653,000 Prepaid expenses 781,000 1,120,000 Occupancy tax deposit - Hotel 1,061,000 1,061,000 Note receivable - related party 624,000 634,000 Miscellaneous assets, net 1,644,000 1,390,000 Total other assets $ 4,366,000 $ 4,858,000 In 2013, the City of San Francisco’s Tax Collector’s office claimed that Justice owed the City of San Francisco $ 2.1 Amortization expense of loan fees and franchise costs for the years ended June 30, 2015 and 2014 was $ 131,000 88,000

RELATED PARTY AND OTHER NOTES P

RELATED PARTY AND OTHER NOTES PAYABLE	12 Months Ended
	Jun. 30, 2015
Related Party And Other Notes Payable [Abstract]
Related Party and Other Notes Payable [Text Block]	NOTE 9 – RELATED PARTY AND OTHER NOTES PAYABLE The Company has various notes payable and financing obligations outstanding at June 30, 2015 and 2014 totaling $ 313,000 282,000 On July 2, 2014, the Partnership obtained from the Intergroup Corporation (related party) an unsecured loan in the principal amount of $ 4,250,000 12 2 3 The balance of other notes payable at June 30, 2015 relates to an obligation to Hilton(franchisor) in the form of a self-exhausting, interest free development incentive note which will be reduced approximately $ 316,000 158,000

MORTGAGE NOTES PAYABLE

MORTGAGE NOTES PAYABLE	12 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Mortgage Notes Payable Disclosure [Text Block]	NOTE 10 – MORTGAGE NOTES PAYABLE 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”). The Partnership is the sole member of Mezzanine, and Mezzanine is the sole member of Operating. The Loan Agreements provide for a $ 97,000,000 20,000,000 The Mortgage Loan is secured by the Partnership’s principal asset, the Hilton San Francisco-Financial District (the “Property”). The Mortgage Loan bears an interest rate of 5.28 The Mezzanine Loan is a secured by the Operating membership interest held by Mezzanine and is subordinated to the Mortgage Loan. The Mezzanine Loan bears interest at 9.75 January 1, 2024 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 which is a factor in a consolidation of Operating or Mezzanine in a bankruptcy of another person, transfer or encumbrance of the Property in violation of the applicable loan documents, Operating or Mezzanine incurring debts that are not permitted, and the Property becoming subject to a bankruptcy proceeding. Pursuant to the Guaranties, the Partnership is required to maintain a certain minimum net worth and liquidity. As of June 30, 2015 and 2014, the Partnership 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. Each mortgage note payable is secured by its respective land and building. June 30, 2015 June 30, 2014 Interest Rate Origination Date Maturity Date $ 97,000,000 $ 97,000,000 Fixed 5.28% December 18, 2013 January 1, 2024 20,000,000 20,000,000 Fixed 9.75% December 18, 2013 January 1, 2024 117,000,000 117,000,000 Total mortgage notes payable - hotel 3,029,000 3,084,000 Fixed 4.85% November 4, 2010 December 1, 2020 381,000 388,000 Fixed 4.25% September 1, 2012 September 1, 2042 $ 3,410,000 $ 3,472,000 Total mortgage notes payable - real estate For the year ending June 30, 2016 $ 268,000 2017 861,000 2018 1,473,000 2019 1,552,000 2020 1,636,000 Thereafter 114,933,000 $ 120,723,000

GARAGE OPERATIONS

GARAGE OPERATIONS	12 Months Ended
	Jun. 30, 2015
Garage Operations And Rental Income [Abstract]
Garage Operations And Rental Income [Text Block]	NOTE 11 – GARAGE OPERATIONS On October 31, 2010, the Partnership and Ace Parking entered into an amendment of the original Parking Agreement to extend the term for a period of sixty two (62) months, commencing on November 1, 2010 and terminating December 31, 2015, subject to either party’s right to terminate the agreement without cause on ninety (90) days written notice. The monthly management fee of $2,000 and the accounting fee of $250 remain the same, but the amendment modified how the Excess Profit Fee to be paid to Ace Parking would be calculated. The amendment provides that, if net operating income (“NOI”) from the garage operations exceeds $1,800,000 but is less than $2,000,000, then Ace Parking will be entitled to an Excess Profit Fee of one percent (1%) of the total annual NOI. If the annual NOI is $2,000,000 or higher, Ace Parking will be entitled to an Excess Profit Fee equal to two percent (2%) of the total annual NOI. The garage’s NOI exceeded the annual NOI of $2,000,000 for the years ended June 30, 2015 and 2014. Base Management and incentive fees to Ace Parking amounted to $ 44,000

MANAGEMENT AGREEMENTS

MANAGEMENT AGREEMENTS	12 Months Ended
	Jun. 30, 2015
Management Agreement [Abstract]
Management Agreement [Text Block]	NOTE 12 – MANAGEMENT AGREEMENTS On February 2, 2007, the Partnership entered into an agreement with Prism to manage and operate the Hotel as its agent. The original agreement was effective for a term of ten years, but was amended in January 2014 as provided in the agreement. Under the original management agreement, the Partnership was required to pay the base management fees of up to 2.5 Of that amount, 1.75% of the gross operating revenues was paid monthly. The balance or 0.75% was paid only to the extent that the partially adjusted net operating income (net operating income less capital expenditures) for the fiscal year exceeded the amount of the Hotel’s return for the fiscal year. The base management fee was limited to 1.75% for the period ended January 31, 2014. Under the new management agreement, effective January 2014, the required base management fees per the original agreement were amended by the Partnership to a fixed rate of $20,000 per month. 11,000 June 30, 2015 293,000 579,000 Effective December 1, 2013, GMP Management, Inc. (“GMP”), a company owned by a Justice limited partner and related party, also provides management services for the Partnership pursuant to a Management Services Agreement. The management agreement with GMP has a term of 3 325,000 5 736,000 330,000 1,078,000 The management fees expensed for Prism and GMP during the years ended June 30, 2015 and 2014 were $1,370,000 and $1,098,000, respectively.

CONCENTRATION OF CREDIT RISK

CONCENTRATION OF CREDIT RISK	12 Months Ended
	Jun. 30, 2015
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	NOTE 13 – CONCENTRATION OF CREDIT RISK As of June 30, 2015, approximately 70% of accounts receivable is related to the amended franchise agreement. Travel agents and airlines made up 19 1,278,000 50 915,000 17 1,182,000 65 1,203,000 The Partnership maintains its cash and cash equivalents and restricted cash with various financial institutions that are monitored regularly for credit quality. At times, such cash and cash equivalents holdings may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) or other federally insured limits.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 14 - INCOME TAXES The Company and Portsmouth file separate tax returns for both federal and state purposes. The provision for income tax expense consists of the following: For the years ended June 30, 2015 2014 Federal Current tax expense $ (13,000) $ (39,000) Deferred tax benefit (expense) 878,000 3,061,000 865,000 3,022,000 State Current tax expense (11,000) (14,000) Deferred tax benefit 227,000 992,000 216,000 978,000 Total income tax benefit $ 1,081,000 $ 4,000,000 A reconciliation of the statutory federal income tax rate to the effective tax rate is as follows: For the years ended June 30, 2015 2014 Statutory federal tax rate 34.0 % 34.0 % State income taxes, net of federal tax benefit 5.4 % 6.0 % Noncontrolling interest -1.9 % -3.2 % Valuation allowance -12.4 % -1.4 % Other 1.0 % 1.0 % 26.1 % 36.4 % The components of the Company’s deferred tax assets and (liabilities) as of June 30, 2015 and 2014 are as follows: 2015 2014 Deferred tax assets Net operating loss carryforward $ 12,039,000 $ 8,689,000 Investment reserve 1,747,000 1,565,000 Basis difference in Justice (377,000) 1,621,000 Capital loss carryforward 624,000 624,000 Depreciation and amortization 211,000 206,000 Wash sales 297,000 297,000 Constructive sales 18,000 18,000 Accrued vacation 7,000 19,000 Valuation allowance (2,335,000) (1,847,000) 12,231,000 11,192,000 Deferred tax liabilities Unrealized gains on marketable securities (2,252,000) (2,421,000) Deferred gains on real estate sale (913,000) (913,000) State taxes (715,000) (612,000) (3,880,000) (3,946,000) Net deferred tax assets $ 8,351,000 $ 7,246,000 The deferred tax valuation allowance increased by $ 488,000 152,000 As of June 30, 2015, the Company had federal and state operating loss carryforwards of $ 29,038,000 24,478,000 The Company is subject to U.S. federal income tax as well as to income tax in multiple state jurisdictions. Federal income tax returns of the Company are subject to IRS examination for the 2010 through 2014 tax years. State income tax returns are subject to examination for the 2009 through 2014 tax years. Assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the “more-likely-than-not” threshold based on the technical merits of the positions. The Partnership has disputed certain tax assessments arising out of the restructuring of the Company in 2013. See Note 8, Other Assets, Net and Note 17, Commitments and Contingencies – Legal Matters. With the exception of those matters, as of June 30, 2015, it has been determined there are no uncertain tax positions likely to impact the Company. The Partnership files tax returns as prescribed by the tax laws of the jurisdictions in which it operates and is subject to examination by federal, state and local jurisdictions, were applicable. As of June 30, 2015, tax years beginning in fiscal 2010 remain open to examination by the major tax jurisdictions, and are subject to the statute of limitations.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE 15 – 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. As of and for the year Hotel Real Estate Investment ended June 30, 2015 Operations Operations Transactions Other Total Revenues $ 56,811,000 $ 618,000 $ - $ - $ 57,429,000 Segment operating expenses (47,016,000) (287,000) - (961,000) (48,264,000) Segment income (loss) 9,795,000 331,000 - (961,000) 9,165,000 Interest expense - mortgage (7,787,000) (99,000) - - (7,886,000) Loss on disposal of assets (47,000) - - (47,000) Depreciation and amortization expense (2,801,000) (62,000) - - (2,863,000) Loss from investments - - (2,513,000) - (2,513,000) Income tax benefit - - - 1,081,000 1,081,000 Net income (loss) $ (840,000) $ 170,000 $ (2,513,000) $ 120,000 $ (3,063,000) Total assets $ 48,289,000 $ 4,972,000 $ 9,666,000 $ 12,959,000 $ 75,886,000 As of and for the year Hotel Real Estate Investment ended June 30, 2014 Operations Operations Transactions Other Total Revenues $ 50,963,000 $ 633,000 $ - $ - $ 51,596,000 Segment operating expenses (48,764,000) (382,000) - (954,000) (50,100,000) Segment income (loss) 2,199,000 251,000 - (954,000) 1,496,000 Interest expense - mortgage (4,960,000) (102,000) - - (5,062,000) 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 (2,472,000) (62,000) - - (2,534,000) Income from investments - - 403,000 - 403,000 Income tax benefit - - - 4,000,000 4,000,000 Net income (loss) $ (10,563,000) $ 87,000 $ 403,000 $ 3,046,000 $ (7,027,000) Total assets $ 37,883,000 $ 4,981,000 $ 13,141,000 $ 32,314,000 $ 88,319,000

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 16 - RELATED PARTY TRANSACTIONS As discussed in Note 9 – Other Notes Payable, on July 2, 2014, the Partnership obtained from the Intergroup Corporation (the parent company) an unsecured loan in the principal amount of $ 4,250,000 As discussed in Note 12 – Management Agreements, effective December 1, 2013, the Partnership has a management agreement with GMP Management, Inc., a company owned by a Justice limited partner and a related party. In connection with the redemption of limited partnership interests of Justice Investors, Limited Partnership described in Note 2 above, Justice Operating Company, LLC agreed to pay a total of $ 1,550,000 1,200,000 Two general partners provided services to the Partnership through December 17, 2013. On December 18, 2013, the Partnership redeemed Evon’s partnership interest and Portsmouth Square became the sole general partner. During the year ended June 30, 2014, the general partners were paid a total of $ 591,000 285,000 306,000 285,000 565,000 473,000 Certain shared costs and expenses, primarily administrative expenses, rent and insurance are allocated among the Company and InterGroup based on management's estimate of the pro rata utilization of resources. For the years ended June 30, 2015 and 2014, these expenses were approximately $ 144,000 As of June 30, 2015, the Company has a note receivable from Intergroup in the amount of $ 624,000 4.85 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. As Chairman of the Securities Investment Committee, the Company’s President and Chief Executive Officer (CEO), John V. Winfield, directs the investment activity of the Company in public and private markets pursuant to authority granted by the Board of Directors. Mr. Winfield also serves as Chief Executive Officer and Chairman of Santa Fe and InterGroup and oversees the investment activity of those companies. Depending on certain market conditions and various risk factors, the Chief Executive Officer, his family, Santa Fe 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 Santa Fe and InterGroup, at risk in connection with investment decisions made on behalf of the Company. In fiscal year ended June 30, 2004, the disinterested members of the Boards of Directors of the Company and its subsidiary, Portsmouth, established a performance based compensation program for the Company’s CEO to keep and retain his services as a direct and active manager of the Company’s securities portfolio. Pursuant to the current criteria established by the Board, Mr. Winfield is entitled to performance based compensation for his management of the Company’s securities portfolio equal to 20% of all net investment gains generated in excess of an annual return equal to the Prime Rate of Interest (as published in the Wall Street Journal) plus 2%.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 17 – COMMITMENTS AND CONTINGENCIES Franchise Agreements The Partnership entered into a Franchise License agreement (the License agreement) with the HLT Franchise Holding LLC (Hilton) (Hilton) on December 10, 2004. The term of the License agreement was for an initial period of 15 years commencing on the opening date, with an option to extend the license agreement for another five years, subject to certain conditions. On June 26, 2015, the Partnership and Hilton entered into an amended franchise agreement which extended the franchise agreement through 2030, modified the monthly royalty rate, extended geographic protection to the Partnership and also provided the Partnership certain key money cash incentives to be earned through 2030. The key money cash incentives were received on July 1, 2015 and are included in accounts receivable at June 30, 2015. Since the opening of the Hotel in January 2006, the Partnership has paid monthly royalties, program fees and information technology recapture charges equal to a percent of the Hotel’s gross room revenue for the preceding calendar month. Total fees paid to Hilton for such services during fiscal 2015 and 2014 totaled $ 3.6 4.1 Employees As of June 30, 2015, the Partnership, through Operating, had approximately 312 employees. Approximately 79% of those employees were represented by one of three labor unions, and their terms of employment were determined under a collective bargaining agreement (“CBA”) to which the Partnership was a party. During the year ended June 30, 2014, the Partnership renewed the CBAs for the Local 2 (Hotel and Restaurant Employees), Local 856 (International Brotherhood of Teamsters), and Local 39 (stationary engineers). Negotiation of collective bargaining agreements, which includes not just terms and conditions of employment, but scope and coverage of employees, is a regular and expected course of business operations for the Partnership. The Partnership expects and anticipates that the terms of conditions of CBAs will have an impact on wage and benefit costs, operating expenses, and certain Hotel operations during the life of the each CBA, and incorporates these principles into its operating and budgetary practices. Legal Matters In 2013, the City of San Francisco’s Tax Collector’s office claimed that Justice owed the City of San Francisco $ 2.1 Several legal matters are pending relating to the redemption transaction described in Note 2. On December 18, 2013, a Real Property Transfer Tax of approximately $ 4.7 On February 13, 2014, Evon filed a complaint in San Francisco Superior Court against the Partnership, Portsmouth, and a limited partner and related party asserting contract and tort claims based on Justice’s withholding of $ 4.7 4.7 On April 21, 2014, the Partnership commenced an arbitration action against Glaser Weil Fink Howard Avchen & Shapiro, LLP (formerly known as Glaser Weil Fink Jacobs Howard Avchen & Shapiro, LLP), Brett J. Cohen, Gary N. Jacobs, Janet S. McCloud, Paul B. Salvaty, and Joseph K. Fletcher III (collectively, the “Respondents”) in connection with the redemption transaction. The arbitration alleges legal malpractice against the Respondents and also seeks declaratory relief regarding provisions of the option agreement in the redemption transaction and regarding the engagement letter with Respondents. The arbitration is pending before JAMS, Inc. in Los Angeles, but has been stayed pending conclusion of the action filed by Evon described above. No prediction can be given as to the outcome of this matter. On June 27, 2014, the Partnership commenced an action in San Francisco Superior Court against Evon, Holdings, and those partners who elected the alternative redemption structure. The action seeks a declaration of the correct interpretation of (i) the special allocations sections of the Amended and Restated Agreement of Limited Partnership of Justice with an effective date of January 1, 2013; and (ii) whether certain partners who elected the alternative redemption structure breached the governing Limited Partnership Interest Redemption Option Agreement. The complaint states that these declarations are relevant to preparation of the Partnership’s 2013 and 2014 state and federal tax returns and the associated Forms K-1 to be issued to affected current and former partners. The Partnership filed a First Amended Complaint on October 31, 2014. Evon filed a cross-complaint on December 9, 2014, alleging fraudulent concealment and promissory fraud against the Partnership in connection with the redemption transaction. The Partnership demurred to the cross-complaint, and that demurrer is still pending in the Superior Court. The parties have been engaged in settlement discussions, and have agreed to postpone activity in this case while they attempt settlement. To date, the court has been amenable to continuing all pending dates. The parties have not yet reached a final settlement. No prediction can be given as to the outcome of this matter. On March 20, 2015, the Partnership and Operating filed a case in the Supreme Court of the State of New York entitled Justice Investors and Justice Operating Company, LLC v. Hilton Franchise LLC (the “Action”). On June 26, 2015, the Partnership and Hilton Franchise Holding LLC, a Delaware limited liability company, successor-by-merger to Hilton Franchise LLC, a Delaware limited liability company (“Hilton”) entered into a Settlement Agreement and Release (the “Agreement”) to settle and release all claims arising out of or in connection with the Action. Under the terms of the Agreement, Hilton and Justice agreed to amend the existing License Agreement (described above) between the Partnership and Hilton by extending it for 15 years, and for Hilton to pay to Justice key money. Operating executed a self-exhausting, interest-free promissory note in favor of HLT Existing Franchise Holding LLC in the amount of the key money, which provides that the key money is to be amortized, on a straight-line basis, over the 15 year term of the amended, extended Franchise Agreement. Upon the Effective Date of the Agreement, Justice dismissed the Action. The Partnership has not yet filed its 2014 federal and state partnership income tax returns. The outcome of the Declaratory Relief action pending in San Francisco Superior Court will likely impact the filing of the 2014 tax returns, and the Partnership is working to resolve these issues. The Company is subject to legal proceedings, claims, and litigation arising in the ordinary course of business. The Company defends itself vigorously against any such claims. Management does not believe that the impact of such matters will have a material effect on the financial conditions or result of operations when resolved.

EMPLOYEE BENEFIT PLAN

EMPLOYEE BENEFIT PLAN	12 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Compensation and Employee Benefit Plans [Text Block]	NOTE 18 – EMPLOYEE BENEFIT PLAN Justice has a 401(k) Profit Sharing Plan (the “Plan”) for non-union employees who have completed six months of service. Justice provides a matching contribution up to 4 61,000 53,000 Certain employees of Justice who are members of various unions are covered by union-sponsored, collectively bargained, multi-employer health and welfare and benefit pension plans. Justice does not contribute separately to those multi-employer plans.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 19 – SUBSEQUENT EVENTS As of June 30, 2015, the Company had $ 6,659,000 6,659 On August 27, 2015, all of such preferred stock was converted into common stock of Comstock. The Company has evaluated all events occurring subsequent to June 30, 2015 and concluded that no additional subsequent events has occurred outside the normal course of business operations that require disclosure.

SIGNIFICANT ACCOUNTING POLICI26

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include the accounts of the Company, Portsmouth and Woodland Village. All significant inter-company transactions and balances have been eliminated.
Investment In Hotel [Policy Text Block]	Investment in Hotel, net Property and equipment are stated at cost. Building improvements are being depreciated on a straight-line basis over their useful lives ranging from 3 39 3 7 Repairs and maintenance are charged to expense as incurred. Costs of significant renewals and improvements are capitalized and depreciated over the shorter of its remaining estimated useful life or life of the asset. The cost of assets sold or retired and the related accumulated depreciation are removed from the accounts; any resulting gain or loss is included in other income (expenses). The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with generally accepted accounting principles (“GAAP”). If the carrying amount of the asset, including any intangible assets associated with that asset, exceeds its estimated undiscounted net cash flow, before interest, the Partnership will recognize an impairment loss equal to the difference between its carrying amount and its estimated fair value. If impairment is recognized, the reduced carrying amount of the asset will be accounted for as its new cost. For a depreciable asset, the new cost will be depreciated over the asset’s remaining useful life. Generally, fair values are estimated using discounted cash flow, replacement cost or market comparison analyses. The process of evaluating for impairment requires estimates as to future events and conditions, which are subject to varying market and economic factors. Therefore, it is reasonably possible that a change in estimate resulting from judgments as to future events could occur which would affect the recorded amounts of the property. No impairment losses were recorded for the years ended June 30, 2015 and 2014.
Real Estate, Policy [Policy Text Block]	Investment in Real Estate, net Rental properties are stated at cost less accumulated depreciation. Depreciation of rental property is provided on the straight-line method based upon estimated useful lives of 5 40 5 10 The Company also reviews its rental property assets for impairment. No impairment losses on the investment in real estate have been recorded for the years ended June 30, 2015 and 2014.
Marketable Securities, Policy [Policy Text Block]	Investment in Marketable Securities Marketable securities are stated at fair value as determined by the most recently traded price of each security at the balance sheet date. Marketable securities are classified as trading securities with all unrealized gains and losses on the Company's investment portfolio recorded through the consolidated statements of operations.
Investment, Policy [Policy Text Block]	Other Investments, net Other investments include non-marketable securities (carried at cost, net of any impairments loss), non –marketable warrants (carried at fair value) and certain convertible preferred securities, received in exchange for debt instruments, carried at a book basis, initially determined using the estimated fair value on the exchange date. The Company has no significant influence or control over the entities that issue these 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. For the years ended June 30, 2015 and 2014, the Company recorded impairment losses related to other investments of $ 432,000 63,000 3,368,000 2,936,000
Derivatives, Policy [Policy Text Block]	The Company has investments in stock warrants that are considered derivative instruments. Derivative financial instruments consist of financial instruments or other contracts that contain a notional amount and one or more underlying (e.g. interest rate, security price or other variable), require no initial net investment and permit net settlement. Derivative financial instruments may be free-standing or embedded in other financial instruments. Further, derivative financial instruments are initially, and subsequently, measured at fair value on the Company’s consolidated balance sheet with the related unrealized gain or loss recorded in the Company’s consolidated statement of operations. The Company used the Black-Scholes option valuation model to estimate the fair value these instruments which requires management to make significant assumptions including trading volatility, estimated terms, and risk free rates. Estimating fair values of derivative financial instruments requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. In addition, option-based models are highly volatile and sensitive to changes in the trading market price of the underlying common stock, which has a high-historical volatility. Since derivative financial instruments are initially and subsequently carried at fair values, the Company’s consolidated statement of operations will reflect the volatility in these estimates and assumption changes.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents Cash equivalents consist of highly liquid investments with an original maturity of three months or less when purchased and are carried at cost, which approximates fair value.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash Restricted cash is comprised of amounts held by lenders for payment of real estate taxes, insurance, replacement, capital addition reserves for the Hotel and the funds held by Justice to implement the alternate redemption structure for those partners who elected that structure.
Receivables, Policy [Policy Text Block]	Accounts Receivable - Hotel, net Accounts receivable from Hotel customers are carried at cost less an allowance for doubtful accounts that is based on management’s assessment of the collectability of accounts receivable. The Partnership extends unsecured credit to its customers but mitigates the associated credit risk by performing ongoing credit evaluations of its customers.
Other Assets [Policy Text Block]	Other Assets, net Other assets include prepaid insurance, loan fees, franchise fees, license fees, occupancy tax deposits and other miscellaneous assets. Loan fees are stated at cost and amortized over the term of the loan using the effective interest method. Franchise fees are stated at cost and amortized over the life of the agreement ( 15 10
Income Tax, Policy [Policy Text Block]	Income Taxes Deferred income taxes are calculated under the liability method. Deferred income tax assets and liabilities are based on differences between the financial statement and tax basis of assets and liabilities at the current enacted tax rates. Changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted tax rates are charged or credited to income tax expense in the period of enactment. Valuation allowances are established for certain deferred tax assets where realization is not likely. Assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the “more-likely-than-not” threshold based on the technical merits of the positions.
Due To And From Broker Dealers Policy Text Block [Policy Text Block]	Due to Securities Broker Various securities brokers have advanced funds to the Company for the purchase of marketable securities under standard margin agreements. These advanced funds are recorded as a liability.
Obligations For Securities Sold [Policy Text Block]	Obligations for Securities Sold Obligation for securities sold represents the fair market value of shares sold with the promise to deliver that security at some future date and the fair market value of shares underlying the written call options with the obligation to deliver that security when and if the option is exercised. The obligation may be satisfied with current holdings of the same security or by subsequent purchases of that security. Unrealized gains and losses from changes in the obligation are included in the statement of operations.
Accounts Payable And Other Liabilities [Policy Text Block]	Accounts Payable and Other Liabilities Accounts payable and other liabilities include trade payables, customer advance deposits and other liabilities.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. Accounting standards for fair value measurement establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the observability of inputs as follows: Level 1 Level 2 Level 3
Treasury Stock [Policy Text Block]	Treasury Stock The Company records the acquisition of treasury stock under the cost method.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Room revenue is recognized on the date upon which a guest occupies a room and/or utilizes the Hotel’s services. Food and beverage revenues are recognized upon delivery. Garage revenue is recognized when a guest uses the garage space. The Company records a liability for payments collected in advance of revenue recognition. This liability is included in Accounts payable and other liabilities. Revenue recognition from apartment rentals commences when an apartment unit is placed in service and occupied by a rent-paying tenant. Apartment units are leased on a short-term basis, with no lease extending beyond one year.
Advertising Costs, Policy [Policy Text Block]	Advertising costs are expensed as incurred. Advertising costs were $ 459,000 434,000
Earnings Per Share, Policy [Policy Text Block]	Basic and Diluted (Loss) Income per Share Basic loss per share is calculated based upon the weighted average number of common shares outstanding during each fiscal year. As of June 30, 2015 and 2014, the Company did not have any potentially dilutive securities outstanding.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses. Such estimates primarily relate to unsettled transactions and events as of the date of the financial statements. Accordingly, upon settlement, actual results may differ from estimated amounts.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs We are in the process of evaluating this guidance. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, In April 2014, the FASB issued ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment We are in the process of evaluating this guidance and we have no plan to discontinue use of any significant assets. In May 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standard Update No. 2014-09, Revenue from Contracts with Customers In August 2014, the FASB issued Accounting Standard Update No. 2014-15, Presentation of Financial Statements Going Concern In July 2015, the FASB issued Accounting Standard Update No. 2015-11, Simplifying the Measurement of Inventory

INVESTMENT IN HOTEL, NET (Table

INVESTMENT IN HOTEL, NET (Tables)	12 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Schedule of Real Estate Properties [Table Text Block]	Investment in Hotel consisted of the following as of: Accumulated Net Book June 30, 2015 Cost Depreciation Value Land $ 1,896,000 $ - $ 1,896,000 Furniture and equipment 25,958,000 (21,605,000) 4,353,000 Building and improvements 57,494,000 (23,805,000) 33,689,000 $ 85,348,000 $ (45,410,000) $ 39,938,000 Accumulated Net Book June 30, 2014 Cost Depreciation Value Land $ 1,896,000 $ - $ 1,896,000 Furniture and equipment 23,306,000 (20,074,000) 3,232,000 Building and improvements 55,281,000 (22,526,000) 32,755,000 $ 80,483,000 $ (42,600,000) $ 37,883,000

INVESTMENT IN REAL ESTATE, NET

INVESTMENT IN REAL ESTATE, NET (Tables)	12 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Schedule of Investment In Real Estate [Table Text Block]	The Company owns and operates a 27-unit and a 2-unit multi-family apartment complex located in Los Angeles, California and owns land held for development located in Maui, Hawaii. As of June 30, 2015 and 2014, investment in real estate included the following: 2015 2014 Land $ 2,430,000 $ 2,430,000 Buildings, improvements and equipment 2,634,000 2,580,000 Accumulated depreciation (1,065,000) (1,002,000) 3,999,000 4,008,000 Land held for development 973,000 973,000 Investment in real estate, net $ 4,972,000 $ 4,981,000

INVESTMENT IN MARKETABLE SECU29

INVESTMENT IN MARKETABLE SECURITIES (Tables)	12 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Marketable Securities [Table Text Block]	At June 30, 2015 and 2014, 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 (Loss) Gain Value As of June 30, 2015 Corporate Equities $ 3,016,000 $ 368,000 $ (1,429,000) $ (1,061,000) $ 1,955,000 As of June 30, 2014 Corporate Equities $ 4,603,000 $ 1,250,000 $ (922,000) $ 328,000 $ 4,931,000
Gain (Loss) on Investments [Table Text Block]	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 years ended June 30, 2015 and 2014, respectively. For the year ended June 30, 2015 2014 Realized (loss) gain on marketable securities $ (625,000) $ 283,000 Unrealized (loss) gain on marketable securities (1,384,000) 50,000 Net (loss) gain on marketable securities $ (2,009,000) $ 333,000

OTHER INVESTMENTS, NET (Tables)

OTHER INVESTMENTS, NET (Tables)	12 Months Ended
	Jun. 30, 2015
Investments, All Other Investments [Abstract]
Schedule Of Other Investments Not Readily Marketable [Table Text Block]	Type June 30, 2015 June 30, 2014 Preferred stock - Comstock, at cost $ 6,659,000 $ 6,659,000 Private equity hedge fund, at cost 777,000 1,025,000 Corporate debt and equity instruments, at cost - 168,000 Other preferred stock 223,000 240,000 Warrants - at fair value 52,000 118,000 $ 7,711,000 $ 8,210,000

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Jun. 30, 2015
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 June 30, 2015 Assets: Level 1 Level 2 Level 3 Total Other investments - warrants $ - $ - $ 52,000 $ 52,000 Investment in marketable securities: Basic materials 1,392,000 - - 1,392,000 Financial services 196,000 - - 196,000 Industrial goods 102,000 - - 102,000 REITs and real estate companies 125,000 - - 125,000 Other 140,000 - - 140,000 1,955,000 - - 1,955,000 $ 1,955,000 $ - $ 52,000 $ 2,007,000 As of June 30, 2014 Assets: Level 1 Level 2 Level 3 Total Other investments - warrants $ - $ - $ 118,000 $ 118,000 Investment in marketable securities: Basic materials 2,657,000 - - 2,657,000 Technology 479,000 - - 479,000 Financial services 287,000 - - 287,000 REITs and real estate companies 278,000 - - 278,000 Other 1,230,000 - - 1,230,000 4,931,000 - - 4,931,000 $ 4,931,000 $ - $ 118,000 $ 5,049,000
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 year Assets Level 1 Level 2 Level 3 June 30, 2015 ended June 30, 2015 Other non-marketable investments $ - $ - $ 7,659,000 $ 7,659,000 $ (432,000) Net loss for the year Assets Level 1 Level 2 Level 3 June 30, 2014 ended June 30, 2014 Other non-marketable investments $ - $ - $ 8,092,000 $ 8,092,000 $ (63,000)

OTHER ASSETS, NET (Tables)

OTHER ASSETS, NET (Tables)	12 Months Ended
	Jun. 30, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets [Table Text Block]	Other assets consist of the following as of June 30: 2015 2014 Inventory - Hotel $ 256,000 $ 653,000 Prepaid expenses 781,000 1,120,000 Occupancy tax deposit - Hotel 1,061,000 1,061,000 Note receivable - related party 624,000 634,000 Miscellaneous assets, net 1,644,000 1,390,000 Total other assets $ 4,366,000 $ 4,858,000

MORTGAGE NOTES PAYABLE (Tables)

MORTGAGE NOTES PAYABLE (Tables)	12 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule Of Mortgage Notes Payable [Table Text Block]	As of June 30, 2015 and 2014, the Company had the following mortgages: June 30, 2015 June 30, 2014 Interest Rate Origination Date Maturity Date $ 97,000,000 $ 97,000,000 Fixed 5.28% December 18, 2013 January 1, 2024 20,000,000 20,000,000 Fixed 9.75% December 18, 2013 January 1, 2024 117,000,000 117,000,000 Total mortgage notes payable - hotel 3,029,000 3,084,000 Fixed 4.85% November 4, 2010 December 1, 2020 381,000 388,000 Fixed 4.25% September 1, 2012 September 1, 2042 $ 3,410,000 $ 3,472,000 Total mortgage notes payable - real estate
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]	Future minimum payments for all notes payable are as follows: For the year ending June 30, 2016 $ 268,000 2017 861,000 2018 1,473,000 2019 1,552,000 2020 1,636,000 Thereafter 114,933,000 $ 120,723,000

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The Company and Portsmouth file separate tax returns for both federal and state purposes. The provision for income tax expense consists of the following: For the years ended June 30, 2015 2014 Federal Current tax expense $ (13,000) $ (39,000) Deferred tax benefit (expense) 878,000 3,061,000 865,000 3,022,000 State Current tax expense (11,000) (14,000) Deferred tax benefit 227,000 992,000 216,000 978,000 Total income tax benefit $ 1,081,000 $ 4,000,000
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	A reconciliation of the statutory federal income tax rate to the effective tax rate is as follows: For the years ended June 30, 2015 2014 Statutory federal tax rate 34.0 % 34.0 % State income taxes, net of federal tax benefit 5.4 % 6.0 % Noncontrolling interest -1.9 % -3.2 % Valuation allowance -12.4 % -1.4 % Other 1.0 % 1.0 % 26.1 % 36.4 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The components of the Company’s deferred tax assets and (liabilities) as of June 30, 2015 and 2014 are as follows: 2015 2014 Deferred tax assets Net operating loss carryforward $ 12,039,000 $ 8,689,000 Investment reserve 1,747,000 1,565,000 Basis difference in Justice (377,000) 1,621,000 Capital loss carryforward 624,000 624,000 Depreciation and amortization 211,000 206,000 Wash sales 297,000 297,000 Constructive sales 18,000 18,000 Accrued vacation 7,000 19,000 Valuation allowance (2,335,000) (1,847,000) 12,231,000 11,192,000 Deferred tax liabilities Unrealized gains on marketable securities (2,252,000) (2,421,000) Deferred gains on real estate sale (913,000) (913,000) State taxes (715,000) (612,000) (3,880,000) (3,946,000) Net deferred tax assets $ 8,351,000 $ 7,246,000

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Information below represents reporting segments for the year ended June 30, 2015 and 2014, respectively. Segment loss from Hotel operations consists of the operation of the Hotel and operation of the garage. Segment income from real estate operations consists of the operation of the rental properties. Segment (loss) income from investments consists of net investment gain (loss), dividend and interest income and investment related expenses. As of and for the year Hotel Real Estate Investment ended June 30, 2015 Operations Operations Transactions Other Total Revenues $ 56,811,000 $ 618,000 $ - $ - $ 57,429,000 Segment operating expenses (47,016,000) (287,000) - (961,000) (48,264,000) Segment income (loss) 9,795,000 331,000 - (961,000) 9,165,000 Interest expense - mortgage (7,787,000) (99,000) - - (7,886,000) Loss on disposal of assets (47,000) - - (47,000) Depreciation and amortization expense (2,801,000) (62,000) - - (2,863,000) Loss from investments - - (2,513,000) - (2,513,000) Income tax benefit - - - 1,081,000 1,081,000 Net income (loss) $ (840,000) $ 170,000 $ (2,513,000) $ 120,000 $ (3,063,000) Total assets $ 48,289,000 $ 4,972,000 $ 9,666,000 $ 12,959,000 $ 75,886,000 As of and for the year Hotel Real Estate Investment ended June 30, 2014 Operations Operations Transactions Other Total Revenues $ 50,963,000 $ 633,000 $ - $ - $ 51,596,000 Segment operating expenses (48,764,000) (382,000) - (954,000) (50,100,000) Segment income (loss) 2,199,000 251,000 - (954,000) 1,496,000 Interest expense - mortgage (4,960,000) (102,000) - - (5,062,000) 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 (2,472,000) (62,000) - - (2,534,000) Income from investments - - 403,000 - 403,000 Income tax benefit - - - 4,000,000 4,000,000 Net income (loss) $ (10,563,000) $ 87,000 $ 403,000 $ 3,046,000 $ (7,027,000) Total assets $ 37,883,000 $ 4,981,000 $ 13,141,000 $ 32,314,000 $ 88,319,000

SIGNIFICANT ACCOUNTING POLICI36

SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Basis Of Presentation And Significant Accounting Policies [Line Items]
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest	93.00%
Other than Temporary Impairment Losses, Investments, Total	$ 432,000	$ 63,000
Allowance For Impairment Losses	3,368,000	2,936,000
Advertising Expense	$ 459,000	$ 434,000
License Fees [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Other Assets Amortization Period	10 years
Franchise Fees [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Other Assets Amortization Period	15 years
Building and Building Improvements [Member] | Maximum [Member] | Real Estate Operation [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Building and Building Improvements [Member] | Minimum [Member] | Real Estate Operation [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Equipment [Member] | Maximum [Member] | Real Estate Operation [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Equipment [Member] | Minimum [Member] | Real Estate Operation [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Portsmouth [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage	68.80%
Intergroup [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage	81.30%
Noncontrolling Interest, Ownership Percentage by Parent	13.10%
Hotel Operations [Member] | Furniture and Fixtures [Member] | Maximum [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Hotel Operations [Member] | Furniture and Fixtures [Member] | Minimum [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Hotel Operations [Member] | Building and Building Improvements [Member] | Maximum [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	39 years
Hotel Operations [Member] | Building and Building Improvements [Member] | Minimum [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Woodland Village Inc [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage	55.40%

JUSTICE INVESTORS (Details Text

JUSTICE INVESTORS (Details Textual) - USD ($)	1 Months Ended		12 Months Ended
	Dec. 19, 2013	Dec. 31, 2008	Jun. 30, 2015	Jun. 30, 2014	Dec. 18, 2013
Justice Investors [Line Items]
Amendment To Limited Partnership Agreement Interests		98.00%
Minimum Future Amendment To Limited Partnership Agreement Interests		75.00%
Annual Revenues Of Partnership Percentage		1.50%
General Partner Contribution To Asset Managers		$ 75,000
Minimum Annual Compensation		$ 285,000
Business Acquisition, Percentage of Voting Interests Acquired					50.00%
Management Fee Expense			$ 1,370,000	$ 1,098,000
General Partner [Member]
Justice Investors [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired					93.00%
Noncontrolling Interest, Ownership Percentage by Parent	29.173%
Partners' Capital Account, Redemptions	$ 1,385,000
Partners Capital, Tendered Percentage	1.00%
Partners Capital, Additional Partnership Percent			17.146%
Extinguishment of Debt, Gain (Loss), Net of Tax			$ 3,910,000
Payments of Debt Extinguishment Costs			3,808,000
Short-term Debt, Refinanced, Amount			102,000
Increase (Decrease) in Partners' Capital				64,100,000
Altenative Redemption Structure [Member]
Justice Investors [Line Items]
Partners' Capital Account, Redemptions			$ 1,385,000
Partners Capital, Tendered Percentage			1.00%
Proceeds from Partnership Contribution			$ 16,163,000	$ 2,928,000
Restructuring and Related Cost, Expected Cost			6,681,000
Management Fee Expense			1,550,000
Legal Fees			431,000
Payments for Other Taxes			$ 4,700,000
Portsmouth [Member]
Justice Investors [Line Items]
Allocated Compensation Percentage		80.00%
Allocated Excess Compensation Percentage		50.00%
Evon [Member]
Justice Investors [Line Items]
Allocated Compensation Percentage		20.00%

INVESTMENT IN HOTEL, NET (Detai

INVESTMENT IN HOTEL, NET (Details) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Property, Plant and Equipment [Line Items]
Cost	$ 85,348,000	$ 80,483,000
Accumulated Depreciation	(45,410,000)	(42,600,000)
Net Book Value	39,938,000	37,883,000
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 equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	25,958,000	23,306,000
Accumulated Depreciation	(21,605,000)	(20,074,000)
Net Book Value	4,353,000	3,232,000
Building and improvements [Member]
Property, Plant and Equipment [Line Items]
Cost	57,494,000	55,281,000
Accumulated Depreciation	(23,805,000)	(22,526,000)
Net Book Value	$ 33,689,000	$ 32,755,000

INVESTMENT IN HOTEL, NET (Det39

INVESTMENT IN HOTEL, NET (Details Textual)	1 Months Ended
	Dec. 31, 2013USD ($)
Property, Plant and Equipment [Line Items]
Gain (Loss) on Disposition of Assets for Financial Service Operations	$ 738,000

INVESTMENT IN REAL ESTATE, NE40

INVESTMENT IN REAL ESTATE, NET (Details) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Property, Plant and Equipment [Line Items]
Land	$ 2,430,000	$ 2,430,000
Buildings, improvements and equipment	2,634,000	2,580,000
Accumulated depreciation	(1,065,000)	(1,002,000)
Real Estate Investment Property Net	3,999,000	4,008,000
Land held for development	973,000	973,000
Investment in real estate, net	$ 4,972,000	$ 4,981,000

INVESTMENT IN REAL ESTATE, NE41

INVESTMENT IN REAL ESTATE, NET (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2013	Dec. 18, 2013	Aug. 31, 2007
Property, Plant and Equipment [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired			50.00%
Intergroup [Member]
Property, Plant and Equipment [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired				50.00%
Business Acquisition Cost Of Acquired Purchase Price				$ 973,000
Hawaiian Corporation [Member]
Property, Plant and Equipment [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired				100.00%
Investment In Real Estate [Member]
Property, Plant and Equipment [Line Items]
Depreciation	$ 62,000	$ 63,000

INVESTMENT IN MARKETABLE SECU42

INVESTMENT IN MARKETABLE SECURITIES (Details) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Investment - Corporate Equities
Net Unrealized (Loss) Gain	$ (1,384,000)	$ 50,000
Fair Value	1,955,000	4,931,000
Equity Securities [Member]
Investment - Corporate Equities
Cost	3,016,000	4,603,000
Gross Unrealized Gain	368,000	1,250,000
Gross Unrealized Loss	(1,429,000)	(922,000)
Net Unrealized (Loss) Gain	(1,061,000)	328,000
Fair Value	$ 1,955,000	$ 4,931,000

INVESTMENT IN MARKETABLE SECU43

INVESTMENT IN MARKETABLE SECURITIES (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Schedule of Trading Securities and Other Trading Assets [Line Items]
Realized (loss) gain on marketable securities	$ (625,000)	$ 283,000
Unrealized (loss) gain on marketable securities	(1,384,000)	50,000
Net (loss) gain on marketable securities	$ (2,009,000)	$ 333,000

INVESTMENT IN MARKETABLE SECU44

INVESTMENT IN MARKETABLE SECURITIES (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Schedule of Trading Securities and Other Trading Assets [Line Items]
Trading Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss	$ 1,420,000	$ 901,000

OTHER INVESTMENTS, NET (Details

OTHER INVESTMENTS, NET (Details) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Other Investment [Line Items]
Other investments, net	$ 7,711,000	$ 8,210,000
Preferred stock - Comstock, at cost [Member]
Other Investment [Line Items]
Other investments, net	6,659,000	6,659,000
Private equity hedge fund, at cost [Member]
Other Investment [Line Items]
Other investments, net	777,000	1,025,000
Corporate debt and equity instruments, at cost [Member]
Other Investment [Line Items]
Other investments, net	0	168,000
Preferred Stock [Member]
Other Investment [Line Items]
Other investments, net	223,000	240,000
Warrant [Member]
Other Investment [Line Items]
Other investments, net	$ 52,000	$ 118,000

OTHER INVESTMENTS, NET (Detai46

OTHER INVESTMENTS, NET (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Warrant [Member]
Schedule of Investments [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	$ 267,000	$ 257,000
Available-for-sale Securities	52,000	118,000
Available-for-sale Securities, Gross Unrealized Gain	66,000	$ 104,000
Comstock Mining Inc [Member]
Schedule of Investments [Line Items]
Preferred Stock, Value, Issued	$ 6,659,000
Preferred Stock, Shares Issued	6,659

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments - warrants	$ 52,000	$ 118,000
Investment in marketable securities	1,955,000	4,931,000
Assets, Fair Value Disclosure	2,007,000	5,049,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments - warrants	0	0
Investment in marketable securities	1,955,000	4,931,000
Assets, Fair Value Disclosure	1,955,000	4,931,000
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments - warrants	0	0
Investment in marketable securities	0	0
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other investments - warrants	52,000	118,000
Investment in marketable securities	0	0
Assets, Fair Value Disclosure	52,000	118,000
Basic materials [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	1,392,000	2,657,000
Basic materials [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	1,392,000	2,657,000
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
Technology [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities		479,000
Technology [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities		479,000
Technology [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities		0
Technology [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities		0
Financial services [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	196,000	287,000
Financial services [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	196,000	287,000
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
REITs and real estate companies [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	125,000	278,000
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	125,000	278,000
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
Industrial goods [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	102,000
Industrial goods [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	102,000
Industrial goods [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	0
Industrial goods [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	0
Other [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	140,000	1,230,000
Other [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	140,000	1,230,000
Other [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in marketable securities	0	0
Other [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 (Deta48

FAIR VALUE MEASUREMENTS (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other non-marketable investments	$ 7,659,000	$ 8,092,000
Net loss	(432,000)	(63,000)
Other Investments [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other non-marketable investments	0	0
Other Investments [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other non-marketable investments	0	0
Other Investments [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other non-marketable investments	$ 7,659,000	$ 8,092,000

OTHER ASSETS, NET (Details)

OTHER ASSETS, NET (Details) - Entity [Domain] - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Other Assets [Line Items]
Inventory - Hotel	$ 256,000	$ 653,000
Prepaid expenses	781,000	1,120,000
Occupancy tax deposit - Hotel	1,061,000	1,061,000
Note receivable - related party	624,000	634,000
Miscellaneous assets, net	1,644,000	1,390,000
Total other assets	$ 4,366,000	$ 4,858,000

OTHER ASSETS, NET (Details Text

OTHER ASSETS, NET (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Other Assets [Line Items]
Amortization Expense Of Loan Fees And Franchise Costs	$ 131,000	$ 88,000
Amortization of Financing Costs	$ 2,100,000

RELATED PARTY AND OTHER NOTES51

RELATED PARTY AND OTHER NOTES PAYABLE (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Jul. 02, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule Of Related Party Transactions By Related Party [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		4.85%
Other Notes Payable		$ 9,155,000	$ 282,000
Notes Reduction		158,000
Intergroup [Member]
Schedule Of Related Party Transactions By Related Party [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	12.00%
Debt Instrument, Face Amount	$ 4,250,000
Debt Instrument Fee Percent	3.00%
Debt Instrument, Term	2 years
Debt Instrument, Maturity Date	Jul. 31, 2016
Interest Free Development Incentive Note [Member]
Schedule Of Related Party Transactions By Related Party [Line Items]
Other Notes Payable		313,000	$ 282,000
Notes Reduction		$ 316,000

MORTGAGE NOTES PAYABLE (Details

MORTGAGE NOTES PAYABLE (Details) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Mortgage Notes Payable [Line Items]
Mortgage Notes Payable Hotel	$ 117,000,000	$ 117,000,000
Mortgage Notes Payable Real Estate	$ 3,410,000	3,472,000
Debt Instrument, Interest Rate, Stated Percentage	4.85%
Fixed Mortgage Notes Payable Hotel 5.28 [Member]
Mortgage Notes Payable [Line Items]
Mortgage Notes Payable Hotel	$ 97,000,000	97,000,000
Debt Instrument, Interest Rate, Stated Percentage	5.28%
Debt Instrument, Maturity Date Range, Start	Dec. 18, 2013
Debt Instrument, Maturity Date Range, End	Jan. 1, 2024
Fixed Mortgage Notes Payable Hotel 9.75 [Member]
Mortgage Notes Payable [Line Items]
Mortgage Notes Payable Hotel	$ 20,000,000	20,000,000
Debt Instrument, Interest Rate, Stated Percentage	9.75%
Debt Instrument, Maturity Date Range, Start	Dec. 18, 2013
Debt Instrument, Maturity Date Range, End	Jan. 1, 2024
Fixed Mortgage Notes Payable Hotel 4.85 [Member]
Mortgage Notes Payable [Line Items]
Mortgage Notes Payable Real Estate	$ 3,029,000	3,084,000
Debt Instrument, Interest Rate, Stated Percentage	4.85%
Debt Instrument, Maturity Date Range, Start	Nov. 4, 2010
Debt Instrument, Maturity Date Range, End	Dec. 1, 2020
Fixed Mortgage Notes Payable Hotel 4.25 [Member]
Mortgage Notes Payable [Line Items]
Mortgage Notes Payable Real Estate	$ 381,000	$ 388,000
Debt Instrument, Interest Rate, Stated Percentage	4.25%
Debt Instrument, Maturity Date Range, Start	Sep. 1, 2012
Debt Instrument, Maturity Date Range, End	Sep. 1, 2042

MORTGAGE NOTES PAYABLE (Detai53

MORTGAGE NOTES PAYABLE (Details 1)	Jun. 30, 2015USD ($)
Mortgage Notes Payable [Line Items]
2,016	$ 268,000
2,017	861,000
2,018	1,473,000
2,019	1,552,000
2,020	1,636,000
Thereafter	114,933,000
Long-term Debt, Total	$ 120,723,000

MORTGAGE NOTES PAYABLE (Detai54

MORTGAGE NOTES PAYABLE (Details Textual) - Jun. 30, 2015 - USD ($)	Total
Mortgage Notes Payable [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 97,000,000
Mortgage Loans on Real Estate, Interest Rate	5.28%
Mortgage Loans on Real Estate, Final Maturity Date	Jan. 1, 2024
Mortgage Loans on Real Estate, Periodic Payment Terms	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 based on a thirty year amortization schedule.
Mezzanine Loan [Member]
Mortgage Notes Payable [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 20,000,000
Mortgage Loans on Real Estate, Interest Rate	9.75%
Mortgage Loans on Real Estate, Final Maturity Date	Jan. 1, 2024

GARAGE OPERATIONS (Details Text

GARAGE OPERATIONS (Details Textual) - Ace Parking [Member] - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Oct. 31, 2010
Garage Operations and Rental Income [Line Items]
Monthly Management Fee			$ 2,000
Monthly Accounting Fee			$ 250
Profit Fee Percentage Determination Criteria One	if net operating income (“NOI”) from the garage operations exceeds $1,800,000 but is less than $2,000,000, then Ace Parking will be entitled to an Excess Profit Fee of one percent (1%) of the total annual NOI.
Profit Fee Percentage Determination Criteria Two	If the annual NOI is $2,000,000 or higher, Ace Parking will be entitled to an Excess Profit Fee equal to two percent (2%) of the total annual NOI.
Garages Net Operating Income Description	The garage’s NOI exceeded the annual NOI of $2,000,000 for the years ended June 30, 2015 and 2014.
Management And Incentive Fee Expense	$ 44,000	$ 44,000

MANAGEMENT AGREEMENTS (Details

MANAGEMENT AGREEMENTS (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Management Agreement [Line Items]
Management Fees Base Payment Description	Of that amount, 1.75% of the gross operating revenues was paid monthly. The balance or 0.75% was paid only to the extent that the partially adjusted net operating income (net operating income less capital expenditures) for the fiscal year exceeded the amount of the Hotels return for the fiscal year. The base management fee was limited to 1.75% for the period ended January 31, 2014. Under the new management agreement, effective January 2014, the required base management fees per the original agreement were amended by the Partnership to a fixed rate of $20,000 per month.
Payment for Management Fee	$ 293,000	$ 579,000
Payment for Incentive Fee	11,000
Management Fee Expense	$ 1,370,000	1,098,000
Hotel [Member]
Management Agreement [Line Items]
Management Fees Base Percentage	2.50%
Payment for Management Fee	$ 325,000
GMP Management, Inc [Member]
Management Agreement [Line Items]
Management Fees Base Percentage	5.00%
Payment for Management Fee	$ 1,078,000	302,015
Payment for Incentive Fee	$ 736,000	$ 330,000
Management Services, Term	3 years

CONCENTRATION OF CREDIT RISK (D

CONCENTRATION OF CREDIT RISK (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Concentration Risk [Line Items]
Accounts Receivable, Net, Total	$ 6,791,000	$ 1,964,000
Hotel [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	17.00%	65.00%
Accounts Receivable, Net, Total	$ 1,182,000	$ 1,203,000
Travel Agents And Airlines [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	19.00%	50.00%
Accounts Receivable, Net, Total	$ 1,278,000	$ 915,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Federal
Current tax expense	$ (13,000)	$ (39,000)
Deferred tax benefit (expense)	878,000	3,061,000
Federal Income Tax Expense (Benefit), Continuing Operations	865,000	3,022,000
State
Current tax expense	(11,000)	(14,000)
Deferred tax benefit	227,000	992,000
State and Local Income Tax Expense (Benefit), Continuing Operations	216,000	978,000
Total income tax benefit	$ 1,081,000	$ 4,000,000

INCOME TAXES (Details 1)

INCOME TAXES (Details 1)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Line Items]
Statutory federal tax rate	34.00%	34.00%
State income taxes, net of federal tax benefit	5.40%	6.00%
Noncontrolling interest	(1.90%)	(3.20%)
Valuation allowance	(12.40%)	(1.40%)
Other	1.00%	1.00%
Effective Income Tax Rate Reconciliation, Percent	26.10%	36.40%

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Deferred tax assets
Net operating loss carryforward	$ 12,039,000	$ 8,689,000
Investment reserve	1,747,000	1,565,000
Basis difference in Justice	(377,000)	1,621,000
Capital loss carryforward	624,000	624,000
Depreciation and amortization	211,000	206,000
Wash sales	297,000	297,000
Constructive sales	18,000	18,000
Accrued vacation	7,000	19,000
Valuation allowance	(2,335,000)	(1,847,000)
Deferred Tax Assets, Net of Valuation Allowance	12,231,000	11,192,000
Deferred tax liabilities
Unrealized gains on marketable securities	(2,252,000)	(2,421,000)
Deferred gains on real estate sale	(913,000)	(913,000)
State taxes	(715,000)	(612,000)
Deferred Tax Liabilities, Gross	(3,880,000)	(3,946,000)
Net deferred tax assets	$ 8,351,000	$ 7,246,000

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	$ 29,038,000
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	24,478,000
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 488,000	$ 152,000

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Revenues	$ 57,429,000	$ 51,596,000
Segment operating expenses	(48,264,000)	(50,100,000)
Segment income (loss)	6,302,000	(1,038,000)
Interest expense - mortgage	(7,886,000)	(5,062,000)
Interest expense - occupancy tax	0	(328,000)
Loss on extinguishment of debt	0	(3,910,000)
Loss on disposal of assets	(47,000)	(1,092,000)
Depreciation and amortization expense	(2,863,000)	(2,534,000)
Income (Loss) from investments	(2,513,000)	403,000
Income tax benefit	1,081,000	4,000,000
Net income (loss)	(3,063,000)	(7,027,000)
Total assets	75,886,000	88,319,000
Hotel [Member]
Segment Reporting Information [Line Items]
Revenues	56,811,000	50,963,000
Segment operating expenses	(47,016,000)	(48,764,000)
Segment income (loss)	9,795,000	2,199,000
Interest expense - mortgage	(7,787,000)	(4,960,000)
Interest expense - occupancy tax		(328,000)
Loss on extinguishment of debt		(3,910,000)
Loss on disposal of assets	(47,000)	(1,092,000)
Depreciation and amortization expense	(2,801,000)	(2,472,000)
Income (Loss) from investments	0	0
Income tax benefit	0	0
Net income (loss)	(840,000)	(10,563,000)
Total assets	48,289,000	37,883,000
Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Revenues	618,000	633,000
Segment operating expenses	(287,000)	(382,000)
Segment income (loss)	331,000	251,000
Interest expense - mortgage	(99,000)	(102,000)
Interest expense - occupancy tax		0
Loss on extinguishment of debt		0
Loss on disposal of assets		0
Depreciation and amortization expense	(62,000)	(62,000)
Income (Loss) from investments	0	0
Income tax benefit	0	0
Net income (loss)	170,000	87,000
Total assets	4,972,000	4,981,000
Investment Transactions [Member]
Segment Reporting Information [Line Items]
Revenues	0	0
Segment operating expenses	0	0
Segment income (loss)	0	0
Interest expense - mortgage	0	0
Interest expense - occupancy tax		0
Loss on extinguishment of debt		0
Loss on disposal of assets	0	0
Depreciation and amortization expense	0	0
Income (Loss) from investments	(2,513,000)	403,000
Income tax benefit	0	0
Net income (loss)	(2,513,000)	403,000
Total assets	9,666,000	13,141,000
Other Property [Member]
Segment Reporting Information [Line Items]
Revenues	0	0
Segment operating expenses	(961,000)	(954,000)
Segment income (loss)	(961,000)	(954,000)
Interest expense - mortgage	0	0
Interest expense - occupancy tax		0
Loss on extinguishment of debt		0
Loss on disposal of assets	0	0
Depreciation and amortization expense	0	0
Income (Loss) from investments	0	0
Income tax benefit	1,081,000	4,000,000
Net income (loss)	120,000	3,046,000
Total assets	$ 12,959,000	$ 32,314,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Jul. 02, 2014	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
Costs and Expenses, Related Party		$ 144,000	$ 144,000
Notes Receivable, Related Parties		$ 624,000	634,000
Debt Instrument, Interest Rate, Stated Percentage		4.85%
Amended Performance Compensation Description		Pursuant to the current criteria established by the Board, Mr. Winfield is entitled to performance based compensation for his management of the Companys securities portfolio equal to 20% of all net investment gains generated in excess of an annual return equal to the Prime Rate of Interest (as published in the Wall Street Journal) plus 2%.
Debt Instrument, Maturity Date, Description		December 2,020
Salaries And Wages		$ 565,000	473,000
Payment for Management Fee		293,000	579,000
Management Fee Payable		1,200,000
General Partner [Member]
Related Party Transaction [Line Items]
Payment for Administrative Fees			591,000
Salaries And Wages			285,000
General Partner One [Member]
Related Party Transaction [Line Items]
Other Labor-related Expenses			$ 306,000
Portsmouth [Member]
Related Party Transaction [Line Items]
Payments of Ordinary Dividends, Noncontrolling Interest		285,000
Justice [Member]
Related Party Transaction [Line Items]
Payments of Ordinary Dividends, Noncontrolling Interest	$ 4,250,000
Payment for Management Fee		$ 1,550,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Textual) - Partner Type of Partners' Capital Account, Name [Domain] - USD ($)	1 Months Ended		12 Months Ended
	Jul. 31, 2014	Feb. 13, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2013
Commitments And Contingencies Disclosure [Line Items]
Franchise Agreements Expiry Period			15 years
Franchise Agreements Contingent Extension Period			Five Years
Initial Franchise Fees			$ 3,600,000	$ 4,100,000
Other Assets			4,366,000	$ 4,858,000
Proceeds from Legal Settlements	$ 4,700,000	$ 4,700,000
City of San Francisco [Member]
Commitments And Contingencies Disclosure [Line Items]
Other Assets					$ 2,100,000
Payments for Other Taxes			$ 4,700,000

EMPLOYEE BENEFIT PLAN (Details

EMPLOYEE BENEFIT PLAN (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Contributions by Employer	$ 61,000	$ 53,000
Defined Benefit Plan, Funded Percentage	4.00%

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - Jun. 30, 2015 - Comstock Mining Inc [Member] - USD ($)	Total
Subsequent Event [Line Items]
Preferred Stock, Value, Issued	$ 6,659,000
Preferred Stock, Shares Issued	6,659