Investment in Unconsolidated Multifamily Entities : Statement of Operations (Details) (USD $)

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Schedule of Equity Method Investments [Line Items]

Equity in income (loss) of unconsolidated multifamily entities

$ 495,664

$ (24,499)

$ 13,471,100

$ (1,655,602)

Joint Venture [Member] | Equity Method Investee, Unconsolidated Limited Partnership [Member]

Schedule of Equity Method Investments [Line Items]

Revenue

13,473,383

34,116,230

67,486,238

101,002,262

Expenses

(15,608,589)

(42,051,265)

(101,489,789)

(125,568,161)

Gain on property sales and extinguishment of debt

(397,093)

^[1]

14,339,915

^[1]

224,943,500

^[1]

14,261,091

^[1]

Noncontrolling interest

936,401

1,196,501

2,837,120

3,799,608

Net income (loss) attributable to investment

(1,595,898)

7,601,381

193,777,069

(6,505,200)

Equity in income (loss) of unconsolidated multifamily entities

(111,725)

^[1],[2]

532,154

^[1],[2]

13,260,440

^[1],[2]

(455,413)

^[1],[2]

Joint Venture [Member] | Equity Method Investee, Unconsolidated Limited Liability Company [Member]

Schedule of Equity Method Investments [Line Items]

Net income (loss) attributable to investment

1,712,909

(1,591,221)

655,585

(3,521,829)

Equity in income (loss) of unconsolidated multifamily entities

$ 607,389

$ (556,653)

$ 210,660

$ (1,200,189)

[1]

During the nine-month period ended September 30, 2013, BVF recorded a net gain on the disposition of one property. The gain on the sale was $14,261,091, of which the Company's share was approximately $998,000 and is reflected in the "Equity in income (loss) of unconsolidated multifamily entities" for the nine-month period ended September 30, 2013.During the nine-month period ended September 30, 2014, BVF recorded a net gain on the disposition of fifteen properties. The gain on the sale was $224,943,500, of which the Company's share was approximately $15,746,000 and is reflected in the "Equity in income (loss) of unconsolidated multifamily entities" for the nine-month period ended September 30, 2014.

[2]

There were no impairment indicators or impairment writeoffs in the nine-month periods ended September 30, 2014 or 2013.The Company has determined that its valuation of the real estate was categorized within Level 3 of the fair value hierarchy in accordance with ASC 820-10, as it utilized significant unobservable inputs in its assessment.

- Definition

The amount of net income (loss) reported by an equity method investment of the entity.

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- Definition

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

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BERKSHIRE INCOME REALTY, INC. 10-Q