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Investment in and Advances to Unconsolidated Joint Ventures (Details)

v3.20.4
Investment in and Advances to Unconsolidated Joint Ventures (Details) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash and cash equivalents $ 173,764           $ 173,764   $ 161,405 $ 196,804  
Total assets 129,378,514           129,378,514   162,485,391 159,958,116  
Accounts payable 497,644           497,644   121,516 108,292  
Total liabilities 9,237,185           9,237,185   6,503,981 5,748,542  
Net (loss) income of unconsolidated joint ventures (924,336) $ (222,677) $ 22,748 $ 477,190 $ 526,963 $ 462,490 (1,124,265) $ 1,466,643 1,771,836 592,850  
Landsea Homes [Member]                      
Cash and cash equivalents 84,857,000     102,867,000     84,857,000 102,867,000 154,043,000 99,865,000 $ 19,030,000
Restricted cash 2,001,000     $ 4,997,000     2,001,000 4,997,000 2,335,000 19,724,000 10,036,000
Real estate inventories 728,155,000           728,155,000   598,179,000 580,473,000  
Other assets 40,748,000           40,748,000   27,121,000 15,745,000  
Total assets 913,204,000           913,204,000   839,217,000 864,641,000  
Accounts payable 36,998,000           36,998,000   16,490,000 34,466,000  
Accrued expenses and other liabilities 49,211,000           49,211,000   48,046,000 50,699,000  
Due to affiliates 1,447,000           1,447,000   1,347,000 1,499,000  
Total liabilities 396,815,000           396,815,000   255,847,000 319,485,000  
LS- Boston Point LLC's share of members' equity 26,727,000           26,727,000   42,956,000 61,098,000  
Revenues             449,870,000 344,849,000 630,988,000 378,617,000 197,306,000
Cost of sales and expenses             397,613,000 288,512,000 531,529,000 306,304,000 175,420,000
Impairment of real estate inventories              
Net (loss) income of unconsolidated joint ventures             (19,742,000) 7,452,000 22,391,000 36,706,000 (303,000)
Equity in net (loss) income of unconsolidated joint ventures             (16,229,000) (7,498,000) (7,901,000) 13,018,000 (458,000)
Landsea Homes [Member] | Joint Venture [Member]                      
Cash and cash equivalents 12,039,000           12,039,000   6,159,000 3,020,000  
Restricted cash                   5,000,000  
Real estate inventories 48,489,000           48,489,000   98,811,000 148,387,000  
Investment in unconsolidated joint venture             225,000 8,305,000  
Other assets 25,000           25,000   339,000 656,000  
Total assets 60,553,000           60,553,000   105,534,000 165,368,000  
Accounts payable 188,000           188,000   1,892,000 5,358,000  
Accrued expenses and other liabilities 3,550,000           3,550,000   2,957,000 1,852,000  
Due to affiliates 647,000           647,000   482,000 6,879,000  
EB-5 notes payable 7,000,000           7,000,000   21,000,000 35,000,000  
Notes payable                   16,902,000  
Total liabilities 11,385,000           11,385,000   26,331,000 65,991,000  
Members' capital 49,168,000           49,168,000   79,203,000 99,377,000  
Total liabilities and members' capital $ 60,553,000           60,553,000   105,534,000 165,368,000  
Revenues             28,409,000 43,951,000 54,633,000 73,587,000
Cost of sales and expenses             31,353,000 51,412,000 62,145,000 71,286,000 2,352,000
Impairment of real estate inventories             (27,094,000) (5,800,000) (5,800,000)
Equity in earnings from unconsolidated joint ventures             3,621,000 1,087,000 33,314,000 34,000
Net (loss) income of unconsolidated joint ventures             (30,038,000) (9,640,000) (12,225,000) 35,615,000 (2,318,000)
Equity in net (loss) income of unconsolidated joint ventures             $ (16,229,000) [1] $ (7,498,000) [1] (7,901,000) [2] 13,018,000 [2] (458,000) [2]
LS Boston Point LLC [Member]                      
Cash and cash equivalents                 94,737 52,583 44,580
Total assets                 319,737 9,891,139 35,193,447
Accounts payable                   120,522
Due to affiliates                 2,859 2,859 49,245
Total liabilities                 22,859 143,381 69,245
LS- Boston Point LLC's share of members' equity                 225,000 9,838,556 35,148,867
Revenues                 1,087,482 36,016,746 (135,065)
Net (loss) income of unconsolidated joint ventures                 1,032,352 35,717,556 (375,990)
LS Boston Point LLC [Member] | Point Condo Holdings LLC [Member]                      
Total assets                 197,857 24,810,623  
Accounts payable                 32,442    
Total liabilities                   101,143  
Members' capital                 165,415 24,709,480  
Total liabilities and members' capital                 197,857 24,810,623  
LS- Boston Point LLC's share of members' equity                 225,000 9,838,556  
Revenues                 26,488,198 2,450,000  
Cost of sales and expenses                 21,629,856 2,213,717  
Net (loss) income of unconsolidated joint ventures                 2,984,523 32,802  
Equity in net (loss) income of unconsolidated joint ventures                 $ 1,087,482  
LS Boston Point LLC [Member] | Fenway Point Partners LLC [Member]                      
Total assets                   598,381 272,646,514
Total liabilities                   12,971 202,348,780
Members' capital                   585,410 70,297,734
Total liabilities and members' capital                   598,381 272,646,514
LS- Boston Point LLC's share of members' equity                   35,148,867
Revenues                   175,080,991 278,160
Cost of sales and expenses                   125,086,864
Net (loss) income of unconsolidated joint ventures                   27,914,284 (270,130)
Equity in net (loss) income of unconsolidated joint ventures                   $ 11,457,359 $ (135,065)
[1] The equity in net (loss) income of unconsolidated joint ventures consists of the allocation of the Company's proportionate share of income or loss from the unconsolidated joint ventures of $15.3 million and $5.8 million loss, as well as $0.9 million and $1.7 million of amortization expense related to capitalized interest and other costs for the nine months ended September 30, 2020 and 2019, respectively.
[2] The equity in net (loss) income of unconsolidated joint ventures consists of the allocation of the Company's proportionate share of income or loss from the unconsolidated joint ventures of $5.9 million loss, $17.8 million income, and $0.5 million loss as well as $2.0 million, $4.8 million, and $0.0 million of amortization expense related to capitalized interest and other costs for the years ended December 31, 2019, 2018, and 2017, respectively.