First Real Estate Investment Trust of New Jersey (FREVS) 10-K 29 Jan 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Jan. 29, 2021	Apr. 30, 2020
Document and Entity Information [Abstract]
Entity Central Index Key	0000036840
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Oct. 31, 2020
Entity File Number	000-25043
Entity Registrant Name	FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY
Entity Incorporation State Country Name	NJ
Entity Tax Identification Number	22-1697095
Entity Address, Address Line One	505 Main Street
Entity Address, City or Town	Hackensack
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07601
City Area Code	201
Local Phone Number	488-6400
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Entitys Reporting Status Current	Yes
Auditor Attestation Flag	false
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 106
Entity Common Stock, Shares Outstanding		6,856,651

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019
ASSETS
Real estate, at cost, net of accumulated depreciation	$ 278,150	$ 330,108
Construction in progress	566	395
Cash and cash equivalents	36,860	38,075
Investment in tenancy-in-common	20,101
Tenants' security accounts	1,408	2,278
Receivables arising from straight-lining of rents	3,977	4,374
Accounts receivable, net of allowance for doubtful accounts of $804 and $379 as of October 31, 2020 and 2019, respectively	1,811	1,741
Secured loans receivable	5,194	5,053
Prepaid expenses and other assets	4,985	5,951
Deferred charges, net	2,163	2,643
Total Assets	355,215	390,618
Liabilities:
Mortgages payable, including deferred interest of $360 and $0 as of October 31, 2020 and 2019, respectively	307,240	352,790
Less unamortized debt issuance costs	1,810	2,886
Mortgages payable, net (Note 5)	305,430	349,904
Due to affiliate	5,921	5,705
Deferred trustee compensation payable	2,633	7,610
Accounts payable and accrued expenses	2,277	3,097
Dividends payable		1,357
Tenants' security deposits	2,124	3,381
Deferred revenue	1,043	1,390
Interest rate cap and swap contracts	4,924	2,126
Total Liabilities	324,352	374,570
Commitments and contingencies (Note 7)
Common equity:
Shares of beneficial interest without par value: 8,000,000 shares authorized; 6,993,152 shares issued plus 152,144 and 192,122 vested share units granted to Trustees at October 31, 2020 and 2019, respectively	27,960	28,847
Treasury stock, at cost: 136,501 and 206,408 shares at October 31, 2020 and 2019, respectively	(2,863)	(4,330)
Undistributed earnings (dividends in excess of net income)	13,791	(6,762)
Accumulated other comprehensive loss	(3,986)	(2,040)
Total Common Equity	34,902	15,715
Noncontrolling interests in subsidiaries	(4,039)	333
Total Equity	30,863	16,048
Total Liabilities and Equity	$ 355,215	$ 390,618

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 804	$ 379
Deferred interest	$ 360	$ 0
Shares of benefical interest, no par value (in dollars per share)
Shares of benefical interest, authorized	8,000,000	8,000,000
Shares of benefical interest, issued	6,993,152	6,993,152
Vested share units to trustees, issued	152,144	192,122
Treasury stock at cost, shares	136,501	206,408

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Revenue:
Rental income	$ 46,184	$ 53,326	$ 51,267
Reimbursements	5,840	6,429	6,093
Sundry income	703	522	637
Total revenue	52,727	60,277	57,997
Expenses:
Operating expenses	15,805	16,501	16,245
Special Committee third party advisory, legal and other expenses	4,606	1,416
Management fees	2,251	2,603	2,547
Real estate taxes	8,687	9,591	8,396
Depreciation	10,341	11,339	11,515
Tenant improvement write-off due to COVID-19	7,277
Total expenses	48,967	41,450	38,703
Operating income	3,760	18,827	19,294
Investment income	204	360	267
Unrealized (loss) gain on interest rate cap contract		(160)	72
Gain on sale of property		836
Gain on deconsolidation of subsidiary	27,680
Loss on investment in tenancy-in-common	(202)
Interest expense including amortization of deferred financing costs	(14,122)	(18,070)	(18,667)
Net income	17,320	1,793	966
Net loss (income) attributable to noncontrolling interests in subsidiaries	3,233	(6)	517
Net income attributable to common equity	$ 20,553	$ 1,787	$ 1,483
Earnings per share - basic and diluted	$ 2.94	$ 0.26	$ 0.21
Weighted average shares outstanding:
Basic	6,992	6,940	6,883
Diluted	6,994	6,940	6,883

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 17,320	$ 1,793	$ 966
Other comprehensive income (loss):
Unrealized (loss) gain on interest rate swap contracts before reclassifications	(3,553)	(6,081)	3,043
Amount reclassified from accumulated other comprehensive loss to interest expense	755	(319)	70
Net unrealized (loss) gain on interest rate swap contracts	(2,798)	(6,400)	3,113
Comprehensive income (loss)	14,522	(4,607)	4,079
Net loss (income) attributable to noncontrolling interests in subsidiaries	3,233	(6)	517
Other comprehensive loss (income):
Unrealized loss (gain) on interest rate swap contracts attributable to noncontrolling interests in subsidiaries	852	1,843	(880)
Comprehensive loss (income) attributable to noncontrolling interests in subsidiaries	4,085	1,837	(363)
Comprehensive income (loss) attributable to common equity	$ 18,607	$ (2,770)	$ 3,716

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands		Shares of Beneficial Interest [Member]	Treasury Stock at Cost [Member]	Dividends in Excess of Net Income [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total Common Equity [Member]	Noncontrolling Interests [Member]	Total
Balance at Oct. 31, 2017		$ 27,651	$ (5,273)	$ (4,824)	$ 284	$ 17,838	$ 10,752	$ 28,590
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation expense		130				130		130
Vested share units granted to Trustees and consultant		839				839		839
Vested share units issued to consultant and retired Trustee	[1]	(332)	332					(332)
Deconsolidation of subsidiary
Distributions to noncontrolling interests							(8,259)	(8,259)
Net income				1,483		1,483	(517)	966
Dividends declared, including $21 and $106 payable in share units in 2018 and 2019, respectively ($0.15 and $0.60 per share)				(1,035)		(1,035)		(1,035)
Net unrealized gain (loss) on interest rate cap and swap contracts					2,233	2,233	880	3,113
Balance at Oct. 31, 2018		28,288	(4,941)	(4,376)	2,517	21,488	2,856	24,344
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation expense		124				124		124
Vested share units granted to Trustees and consultant		1,046				1,046		1,046
Vested share units issued to consultant and retired Trustee	[1]	(611)	611					(611)
Deconsolidation of subsidiary
Distributions to noncontrolling interests							(686)	(686)
Net income				1,787		1,787	6	1,793
Dividends declared, including $21 and $106 payable in share units in 2018 and 2019, respectively ($0.15 and $0.60 per share)				(4,173)		(4,173)		(4,173)
Net unrealized gain (loss) on interest rate cap and swap contracts					(4,557)	(4,557)	(1,843)	(6,400)
Balance at Oct. 31, 2019		28,847	(4,330)	(6,762)	(2,040)	15,715	333	16,048
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation expense		46				46		46
Vested share units granted to Trustees and consultant		534				534		534
Vested share units issued to consultant and retired Trustee	[1]	(1,467)	1,467					(1,467)
Deconsolidation of subsidiary							3,596	3,596
Distributions to noncontrolling interests in subsidiaries							(3,883)	(3,883)
Net income				20,553		20,553	(3,233)	17,320
Net unrealized gain (loss) on interest rate cap and swap contracts					(1,946)	(1,946)	(852)	(2,798)
Balance at Oct. 31, 2020		$ 27,960	$ (2,863)	$ 13,791	$ (3,986)	$ 34,902	$ (4,039)	$ 30,863
[1]	Represents the issuance of treasury shares to consultant and retired Trustee(s) for share units earned.

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividends declared, per share	$ 0.60	$ 0.15
Stock dividends payable	$ 106	$ 21

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		12 Months Ended
		Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Operating activities:
Net income		$ 17,320	$ 1,793	$ 966
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		10,341	11,339	11,515
Tenant improvement write-off due to COVID-19		7,277
Amortization		1,819	1,750	1,789
Unrealized loss (gain) on interest rate cap contract			160	(72)
Stock based compensation expense		46	124	130
Trustee fees, consultant fee and related interest paid in stock units		534	940	818
Gain on sale of property			(836)
Gain on deconsolidation of subsidiary		(27,680)
Loss on investment in tenancy-in-common		202
Deferred rents - straight line rent		397	(410)	(605)
Bad debt expense		619	263	198
Changes in operating assets and liabilities:
Tenants' security accounts		(285)	149	272
Accounts receivable, prepaid expenses and other assets		(1,777)	(1,537)	(371)
Accounts payable, accrued expenses and deferred trustee compensation payable		(5,452)	64	(1,808)
Deferred revenue		(300)	21	93
Due to affiliate - accrued interest		216	288	245
Deferred interest on mortgages		360
Net cash provided by operating activities		3,637	14,108	13,170
Investing activities:
Proceeds from sale of commercial property, net			7,060
Capital improvements - existing properties		(2,048)	(3,087)	(5,335)
Acquisition of Station Place				(19,550)
Distribution from investment in tenancy-in-common		455
Deconsolidation of subsidiary cash and cash equivalents		(1,383)
Proceeds from payment of secured loans receivable inclusive of accrued interest				1,870
Net cash (used in) provided by investing activities		(2,976)	3,973	(23,015)
Financing activities:
Repayment of mortgages and construction loan		(22,910)	(26,529)	(148,680)
Repayment of credit line				(3,121)
Proceeds from mortgage loan refinancings		25,000	28,815	166,520
Proceeds from acquisition mortgage loan				12,350
Deferred financing costs		(482)	(539)	(2,685)
Interest rate cap contract cost				(88)
Dividends paid		(1,357)	(3,048)	(676)
Distributions to noncontrolling interests in subsidiaries		(3,883)	(686)	(8,259)
Net cash (used in) provided by financing activities		(3,632)	(1,987)	15,361
Net (decrease) increase in cash, cash equivalents and restricted cash		(2,971)	16,094	5,516
Cash, cash equivalents and restricted cash, beginning of year		42,488	26,394	20,878
Cash, cash equivalents and restricted cash, end of year		39,517	42,488	26,394
Supplemental disclosure of cash flow data:
Interest paid, net of amounts capitalized		12,365	16,337	17,040
Operating activities:
Commercial tenant security deposits applied to accounts receivable		387
Investing activities:
Accrued capital expenditures, construction costs, pre-development costs and interest		179	157	82
Financing activities:
Dividends declared but not paid			1,357	338
Dividends paid in share units			106	21
Vested share units issued to consultant and retired trustee	[1]	1,467	611	332
Deconsolidation of subsidiary:
Real estate, at cost, net of accumulated depreciation		(36,225)
Accounts receivable, net of allowance for doubtful accounts		(55)
Prepaid expenses and other assets		(315)
Mortgage payable		48,000
Unamortized debt issuance costs		(489)
Accounts payable and accrued expenses		353
Tenants' security deposits		585
Deferred revenue		47
Deconsolidation of subsidiary cash and cash equivalents		(1,383)
Net carrying value of assets and liabilities deconsolidated		10,518
Recognition of retained investment in tenancy-in-common at fair value		20,758
Derecognition of noncontrolling interest in subsidiary		$ (3,596)
[1]	Represents the issuance of treasury shares to consultant and retired Trustee(s) for share units earned.

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the balance sheet:
Cash and cash equivalents	$ 36,860	$ 38,075	$ 21,747
Tenants' security accounts	1,408	2,278	2,212
Mortgage escrows (included in prepaid expenses and other assets)	1,249	2,135	2,435
Total cash, cash equivalents and restricted cash	$ 39,517	$ 42,488	$ 26,394	$ 20,878

Organization and significant ac

Organization and significant accounting policies	12 Months Ended
	Oct. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and significant accounting policies	Note 1 -   Organization and significant accounting policies: Organization: First Real Estate Investment Trust of New Jersey ("FREIT" or the “Company” or “Trust”) was organized on November 1, 1961 as a New Jersey Business Trust. FREIT is engaged in owning residential and commercial income producing properties located primarily in New Jersey, Maryland and New York. FREIT has elected to be taxed as a Real Estate Investment Trust under the provisions of Sections 856-860 of the Internal Revenue Code, as amended. Accordingly, FREIT does not pay federal income tax on income whenever income distributed to shareholders is equal to at least 90% of real estate investment trust taxable income. Further, FREIT pays no federal income tax on capital gains distributed to shareholders. FREIT is subject to federal income tax on undistributed taxable income and capital gains. FREIT may make an annual election under Section 858 of the Internal Revenue Code to apply part of the regular dividends paid in each respective subsequent year as a distribution for the immediately preceding year. Recently issued accounting standards: In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2014-09, “ Revenue from Contracts with Customers Leases, Topic 842 In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)” “Leases (Topic 840)” “Targeted Improvements” (the “Practical Expedient Amendment”) Substantially all of FREIT’s revenues are within the scope of ASC 842. FREIT will continue to account for its leases as operating leases. Leases for FREIT’s apartment buildings and complexes are generally short-term in nature (one to two-years in duration), based on fixed payments and contain separate lease components within the contract for each revenue stream (i.e. base rent, garage rent, etc.). Given the nature of these leases, the adoption of ASU No. 2016-02 had no impact on the accounting for the Company’s leases within the residential segment. With respect to most of FREIT’s commercial properties, lease terms range from five years to twenty-five years with options, which if exercised would extend the terms of such leases. These lease agreements generally provide for reimbursement of real estate taxes, maintenance, insurance and certain other operating expenses of the properties (known as common area maintenance costs (“CAM”)). Some of FREIT’s leases in its commercial segment may contain lease and non-lease components. Generally, the primary lease component in most of FREIT’s commercial leases is base rent charged for the rental of space in an office complex/shopping center. Depending on the lease, the following non-lease components could be present: 1) fixed (or in substance fixed) payments related to real estate taxes and insurance; 2) variable payments that depend on an index or rate initially measured using the index or rate at the commencement date; and 3) fixed CAM reimbursements or CAM expense reimbursements based on the tenant’s proportionate share of the allocable operating expenses and CAM capital expenditures for the property. 78 Table of Contents FREIT accrues fixed lease income on a straight-line basis over the terms of the leases. FREIT accrues reimbursements from tenants for recoverable portions of real estate taxes, insurance, and CAM as variable lease consideration in the period the applicable expenditures are incurred recognizing differences between estimated recoveries and the final billed amounts in the subsequent year. Some of FREIT’s retail tenants are also required to pay overage rents based on sales over a stated base amount during the lease year. FREIT recognizes this variable lease consideration only when each tenant’s sales exceed the applicable sales threshold. Given that this standard has minimal impact on real estate operating lessors, the adoption of this new accounting guidance did not have a significant impact on FREIT’s consolidated financial statements and footnote disclosures. As a result, there was no cumulative effect adjustment to opening equity. Additionally, based on this new accounting guidance, the Company will no longer be able to capitalize certain leasing costs, such as legal expenses, as it relates to activities before a lease is entered into. (See Note 7 to FREIT’s consolidated financial statements for further details). In June 2016, the FASB issued ASU No. 2016-13 "Financial Instruments – Credit Losses (Topic 326)" “Codification Improvements to Topic 326, Financial Instruments—Credit Losses” “Leases (Topic 842)” In August 2017, the FASB issued ASU 2017-12, “Targeted Improvements to Accounting for Hedging Activities to ASC Topic 815, Derivatives and Hedging ("ASC 815")” The adoption of ASU 2017-12 had no impact on the accounting for FREIT’s interest rate swap contracts, which were previously deemed effective cash flow hedges, on the following entities: Damascus Centre, LLC (“Damascus Centre”), Wayne PSC, LLC (“Wayne PSC”), FREIT Regency, LLC (“Regency”) and Station Place on Monmouth, LLC (“Station Place”). Accordingly, these interest rate swap contracts will continue to be accounted for by marking these contracts to market, taking into account present interest rates compared to the contracted fixed rate over the life of the contract and recording the unrealized gain or loss on the swaps in comprehensive income. The adoption of this accounting guidance has an impact on the accounting for Grande Rotunda, LLC’s (“Grande Rotunda”) interest rate cap, which was previously deemed an ineffective cash flow hedge and for which previous to the adoption of this guidance, the change in the fair value was reported in the statement of income. Based on this new guidance, FREIT will record the change in the fair value of Grande Rotunda’s interest rate cap in other comprehensive income on a prospective basis. FREIT did not record an adjustment in Fiscal 2020 to the opening balance of retained earnings as the value of Grande Rotunda’s interest rate cap was $0 as of October 31, 2019. (See Note 6 to FREIT’s consolidated financial statements for additional details). In October 2018, the FASB issued ASU 2018-16 “Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes to ASC Topic 815, Derivatives and Hedging” In April 2020, the FASB staff issued a question and answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of the COVID-19 global pandemic. Under existing GAAP, the Company would have to determine, on a lease by lease basis, if a lease 79 Table of Contents concession was the result of a new arrangement reached with the tenant (treated within the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A allows the Company, if certain criteria have been met, to bypass the lease by lease analysis, and instead elect to either apply the lease modification accounting framework or not, with such election applied consistently to leases with similar characteristics and similar circumstances. This election is only available when total cash flows resulting from lease concessions are substantially similar to or less than the cash flows in the original lease. FREIT has made this election in the second quarter of Fiscal 2020 and accounts for rent deferrals by increasing its rent receivables as receivables accrue and continuing to recognize income during the deferral period. The adoption of this guidance did not have a significant impact on the consolidated financial statements or footnote disclosures. Principles of consolidation: The consolidated financial statements include the accounts of FREIT and the following subsidiaries in which FREIT has a controlling financial interest, including two LLCs in which FREIT is the managing member with a 40% ownership interest: Subsidiary Owning Entity % Ownership Year Acquired/ Organized Westwood Hills, LLC FREIT 40% 1994 Wayne PSC, LLC FREIT 40% 2002 Damascus Centre, LLC FREIT 70% 2003 Grande Rotunda, LLC FREIT 60% 2005 WestFREIT, Corp FREIT 100% 2007 FREIT Regency, LLC FREIT 100% 2014 Station Place on Monmouth, LLC FREIT 100% 2017 Berdan Court, LLC FREIT 100% 2019 The consolidated financial statements include 100% of each subsidiary’s assets, liabilities, operations and cash flows, with the interests not owned by FREIT reflected as "noncontrolling interests in subsidiaries”. All significant inter-company accounts and transactions have been eliminated in consolidation. Investment in tenancy-in-common: On February 28, 2020, FREIT reorganized its subsidiary S and A Commercial Associates Limited Partnership (“S&A”) from a partnership into a tenancy-in-common form of ownership (“TIC”). Prior to this reorganization, FREIT owned a 65% membership interest in S&A, which owned 100% of the Pierre Towers property located in Hackensack, New Jersey through its 100% interest in Pierre Towers, LLC. Accordingly, FREIT consolidated the financial statements of S&A and its subsidiary to include 100% of the subsidiary’s assets, liabilities, operations and cash flows with the interest not owned by FREIT reflected as “noncontrolling interests in subsidiary” and all significant intercompany accounts and transactions were eliminated in consolidation. Pursuant to the TIC agreement, FREIT ultimately acquired a 65% undivided interest in the Pierre Towers property which was formerly owned by S&A. Based on the guidance of ASC 810, “Consolidation” Reclassification: Certain prior year statement of income and cash flow line items have been reclassified to conform to the current year presentation. Use of estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Cash and cash equivalents: Financial instruments that potentially subject FREIT to concentrations of credit risk consist primarily of cash and cash equivalents. FREIT considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. FREIT maintains its cash and cash equivalents in bank and other accounts, the balances of which, at times, may exceed federally insured limits. 80 Table of Contents Real estate development costs: It is FREIT’s policy to capitalize pre-development costs, which generally include legal and other professional fees and other directly related third-party costs. Real estate taxes and interest costs incurred during the development and construction phases are also capitalized. FREIT ceases capitalization of these costs when the project or portion thereof becomes operational, or when construction has been postponed. In the event of a postponement, capitalization of these costs will recommence once construction on the project resumes. Depreciation: Real estate and equipment are depreciated on the straight-line method by annual charges to operations calculated to absorb costs of assets over their estimated useful lives. Impairment of long-lived assets: Impairment losses on long-lived assets, such as real estate and equipment, are recognized when events or changes in circumstances indicate that the undiscounted cash flows estimated to be generated by such assets are less than their carrying value and, accordingly, all or a portion of such carrying value may not be recoverable. Impairment losses are then measured by comparing the fair value of assets to their carrying amounts. In Fiscal 2020, Cobb Theatre, an anchor tenant movie theatre at the Rotunda retail property filed for bankruptcy and rejected its lease at the Rotunda property as of June 30, 2020. In the fourth quarter of Fiscal 2020, management determined that it would be unable to re-let the space on similar terms and as such tenant improvements in the amount of approximately $7.3 million (with a consolidated impact to FREIT of approximately $4.4 million) related to Cobb Theatre were deemed impaired and written off. (See Note 16) There were no other impairments of long-lived assets for the fiscal year ended October 31, 2020. For the fiscal years ended October 31, 2019 and 2018, there were no impairments of long-lived assets. Deferred charges: Deferred charges consist of leasing commissions which are amortized on the straight-line method over the terms of the applicable leases. Debt issuance costs: Debt issuance costs are amortized on the straight-line method by annual charges to income over the terms of the mortgages. Amortization of such costs is included in interest expense and approximated $1,089,000, $1,139,000 and $1,050,000 in Fiscal 2020, 2019 and 2018, respectively. Unamortized debt issuance costs are a direct deduction from mortgages payable on the consolidated balance sheets. Revenue recognition: Income from leases is recognized on a straight-line basis regardless of when payment is due. Lease agreements between FREIT and commercial tenants generally provide for additional rentals and reimbursements based on such factors as increases in real estate taxes, Consumer Price Indices, common area maintenance charges and percentage of tenants' sales in excess of specified volumes. These additional rentals are generally included in income when reported to FREIT when earned, or ratably over the appropriate period. Interest rate cap and swap contracts: FREIT utilizes derivative financial instruments to reduce interest rate risk. FREIT does not hold or issue derivative financial instruments for trading purposes. FREIT recognizes all derivatives as either assets or liabilities in the consolidated balance sheets and measures those instruments at fair value. Changes in fair value of those instruments, which qualify as cash flow hedges, are reported in other comprehensive income. (see Note 6 to FREIT’s consolidated financial statements). Advertising: FREIT expenses the cost of advertising and promotions as incurred. Advertising costs charged to operations amounted to approximately $297,000, $281,000 and $296,000 in Fiscal 2020, 2019 and 2018, respectively. Stock-based compensation: FREIT has a stock-based compensation plan that was approved by FREIT’s Board of Trustees (the “Board”), and ratified by FREIT’s shareholders. Stock based awards are accounted for based on their grant-date fair value (see Note 10 to FREIT’s consolidated financial statements).

Property dispositions

Property dispositions	12 Months Ended
	Oct. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Property dispositions	Note 2 -   Property disposition: On February 8, 2019, FREIT sold a commercial building, formerly occupied as a Pathmark supermarket in Patchogue, New York for a sales price of $7.5 million. The sale of this property, which had a carrying value of approximately $6.2 million, resulted in a gain of approximately $0.8 million net of sales fees and commissions. Net cash proceeds of approximately $2 million were realized after paying off the related mortgage on this property in the amount of approximately $5.2 million. FREIT distributed and paid approximately $676,000 of this gain by way of a one-time special dividend in connection with and in anticipation of the closing of the sale of the Patchogue property of $0.10 per share. The sale of this property eliminates an operating loss of approximately $0.8 million ($0.12 per share) incurred, annually, since Pathmark vacated the building in December 2015. 81 Table of Contents As the disposal of this property did not represent a strategic shift that would have a major impact on FREIT’s operations or financial results, the property’s operations were not reflected as discontinued operations in the accompanying consolidated financial statements.

Property acquisition

Property acquisition	12 Months Ended
	Oct. 31, 2020
Real Estate [Abstract]
Property acquisition	Note 3 -   Property acquisition: On December 7, 2017, FREIT completed the acquisition of Station Place, a residential apartment complex consisting of one building with 45 units, located in Red Bank, New Jersey through Station Place on Monmouth, LLC (FREIT’s 100% owned consolidated subsidiary). FREIT identified Station Place as the replacement property for the Hammel Gardens property located in Maywood, New Jersey that FREIT sold on June 12, 2017, which completed the like-kind exchange pursuant to Section 1031 of the Internal Revenue Code. Station Place is part of FREIT’s residential segment. The acquisition cost was $19,550,000 (inclusive of approximately $550,000 of transaction costs capitalized as part of the asset acquisition), which was funded in part with $7 million in net proceeds from the sale of the Hammel Gardens property, and the remaining balance of $12,350,000 (inclusive of the transaction costs) was funded by Station Place on Monmouth, LLC through long-term financing for this property from Provident Bank. The acquisition cost of $19.6 million has been allocated as follows: $10.8 million to the building and $8.8 million to the land.

Real estate

Real estate	12 Months Ended
	Oct. 31, 2020
Property, Plant and Equipment [Abstract]
Real estate	Note 4 -   Real estate: Real estate consists of the following: Range of Estimated October 31, Useful Lives 2020 2019 (In Thousands of Dollars) Land $ 75,688 $ 84,097 Unimproved land 405 405 Apartment buildings 7-40 years 155,923 202,486 Commercial buildings/shopping centers 5-40 years 151,293 159,186 Equipment/Furniture 5-15 years 1,978 2,297 Total real estate, gross 385,287 448,471 Less: accumulated depreciation 107,137 118,363 Total real estate, net $ 278,150 $ 330,108

Mortgages payable and credit li

Mortgages payable and credit line	12 Months Ended
	Oct. 31, 2020
Debt Disclosure [Abstract]
Mortgages payable and credit line	Note 5 -   Mortgages payable and credit line: October 31, 2020 October 31, 2019 Principal (Including Deferred Interest) Unamortized Debt Issuance Costs Principal Unamortized Debt Issuance Costs (In Thousands of Dollars) (In Thousands of Dollars) Rockaway, NJ (A) $ 15,050 $ 23 $ 15,615 $ 51 Westwood, NJ (B) 18,695 71 18,973 103 Wayne, NJ (C) 28,815 427 28,815 475 River Edge, NJ (D) 9,789 53 10,021 70 Red Bank, NJ (E) 12,181 108 12,350 123 Westwood, NJ (F) — — 19,617 34 Wayne, NJ (G) 23,336 205 23,737 240 Hackensack, NJ (H) — — 48,000 509 Damascus, MD (I) 18,824 166 19,354 231 Middletown, NY (J) 15,255 137 15,588 170 Total fixed rate 141,945 1,190 212,070 2,006 Westwood, NJ (F) 25,000 460 — — Frederick, MD (K) 21,775 — 22,200 28 Baltimore, MD (L) 118,520 160 118,520 800 Line of credit - Provident Bank (M) — — — 52 Total variable rate 165,295 620 140,720 880 Total $ 307,240 $ 1,810 $ 352,790 $ 2,886 82 Table of Contents (A) Payable in monthly installments of $ (B) On January 14, 2013, FREIT refinanced its Westwood Plaza mortgage loan in the amount of $ As a result of the negative impact of the COVID-19 pandemic at this property, FREIT was granted debt payment relief from the lender in the form of deferral of principal and interest payments for a three-month period which ended June 30, 2020, resulting in total deferred payments of approximately $390,000, of which approximately $222,000 related to deferred interest. These deferred payments are included in the mortgages payable on the consolidated balance sheet and are due at the maturity of this loan. (C) On August 26, 2019, Berdan Court, LLC (“Berdan Court”), (owned The loan is interest-only for the first five years of the term with monthly installments of approximately $85,004 each month through September 1, 2024. Thereafter, monthly installments of principal plus interest totaling approximately $130,036 will be required each month until September 1, 2029 at which time the unpaid balance is due. The mortgage is secured by an apartment building in Wayne, New Jersey having a net book value of approximately $1,530,000 as of October 31, 2020. (D) On November 19, 2013, FREIT refinanced mortgage loans scheduled to mature on December 1, 2013 with a new mortgage (E) On December 7, 2017, Station Place on Monmouth, LLC (owned On January 21, 2019, Station Place on Monmouth, LLC entered into a modification agreement with Provident Bank. The material terms of the modification were: (i) FREIT guaranteed $2,350,000 of the outstanding principal balance of the loan; and (ii) the loan’s Debt Service Coverage Ratio (“DSCR”) covenants were reduced to a single test tested semi-annually which required a DSCR of 1.2 / 1.0 based on actual debt service. If the DSCR should fall below 1.2 / 1.0, Provident Bank, at its discretion, may require a current appraisal of the Station Place property. If the loan balance exceeds 85% loan-to-value (“L-T-V”) based on the appraised value, Station Place may be required to resize the loan to bring the L-T-V into compliance by paying down the outstanding principal balance of the loan, posting a letter of credit, or providing additional collateral to Provident Bank. (F) On September 30, 2020, Westwood Hills, LLC (“Westwood Hills”), a consolidated subsidiary, refinanced its $ 83 Table of Contents (G) On September 29, 2016, Wayne PSC, LLC refinanced its $ As a result of the negative impact of the COVID-19 pandemic at this property, we were granted debt payment relief from the lender in the form of deferral of principal and interest payments for a three-month period which ended November 1, 2020, resulting in total deferred payments of approximately $319,000, of which approximately $138,000 related to deferred interest. These deferred payments are included in the mortgages payable on the consolidated balance sheet and are due at the maturity of this loan. (H) On January 8, 2018, Pierre Towers, (which was previously owned by S And A Commercial Associates Limited Partnership January 2028 On February 28, 2020, FREIT reorganized S&A from a partnership into a TIC. Prior to this reorganization, FREIT owned a 65% membership interest in S&A, which owned 100% of the Pierre Towers property located in Hackensack, New Jersey through its 100% interest in Pierre Towers, LLC. Accordingly, FREIT consolidated the financial statements of S&A and its subsidiary to include 100% of the subsidiary’s assets, liabilities, operations and cash flows with the interest not owned by FREIT reflected as “noncontrolling interests in subsidiary” and all significant intercompany accounts and transactions were eliminated in consolidation. Pursuant to the TIC agreement, FREIT ultimately acquired a 65% undivided interest in the Pierre Towers property, a 266-unit residential apartment complex in Hackensack, New Jersey (which was formerly owned by S&A). Based on the guidance of ASC 810, “Consolidation” (I) On December 26, 2012, Damascus Centre, LLC refinanced its construction loan with long-term financing provided by People’s The loan has a maturity date of January 3, 2023 and bears a floating interest rate equal to 210 points over the one-month BBA LIBOR. In order to minimize interest rate volatility during the term of this loan, Damascus Centre, LLC entered into an interest rate swap agreement that, in effect, converted the floating interest rate to a fixed interest rate on each tranche of this loan, resulting in a fixed rate of 3.81% over the term of the first tranche of this loan and a fixed rate of 3.53% over the term of the second tranche of this loan. (See Note 6 to FREIT’s consolidated financial statements for additional information relating to the interest rate swaps.) The shopping center securing the loan has a net book value of approximately $25,438,000 as of October 31, 2020. (J) On December 29, 2014, FREIT Regency, LLC closed on a $ 84 Table of Contents interest rate volatility during the term of the loan, FREIT Regency, LLC entered into an interest rate swap agreement that, in effect, converted the floating interest rate to a fixed interest rate of 3.75% over the term of the loan. (See Note 6 to FREIT’s consolidated financial statements for additional information relating to the interest rate swap.) The mortgage is secured by an apartment complex in Middletown, New York having a net book value of $18,260,000 as of October 31, 2020. (K) On April 28, 2017, WestFREIT, Corp. (owned On April 3, 2019, WestFREIT, Corp. exercised its option to extend its loan held by M&T Bank, with a then outstanding balance of approximately $22.5 million, for twelve months. Effective beginning on June 1, 2019, the extension of this loan required monthly principal payments of $47,250 plus interest based on a floating interest rate equal to 240 basis points over the one-month LIBOR and had a maturity date of May 1, 2020 which was extended to November 1, 2020. This loan has been further extended with a new maturity date of January 31, 2021 under the same terms and conditions of the existing agreement while the lender is in discussions with the Company regarding a further modification and extension of this loan. Management expects the loan to be extended, however, until such time as a definitive agreement providing for a modification and extension of the loan is entered into, there can be no assurance the loan will be modified and extended. The mortgage is secured by a retail building in Frederick, Maryland having a net book value of approximately $12,528,000 as of October 31, 2020. The interest rate on the loan was approximately 2.55% as of October 31, 2020. As a result of the negative impact of the COVID-19 pandemic at this property, FREIT was granted debt payment relief from the lender in the form of deferral of principal and interest payments for a three-month period which ended June 30, 2020, resulting in total deferred payments of approximately $303,800, of which approximately $162,100 related to deferred interest was repaid as of October 31, 2020. The remaining deferred balance due of approximately $141,700 is included in the mortgages payable on the consolidated balance sheet and is due at the maturity of this loan. (L) The original Rotunda acquisition loan for $ On February 7, 2018, Grande Rotunda, LLC (“Grande Rotunda”) refinanced its $115.3 million construction loan held by Wells Fargo with a new loan held by Aareal Capital Corporation in the amount of approximately $118.5 million with additional funding available through February 6, 2021 for retail tenant improvements and leasing costs in the amount of $3,380,000. This refinancing paid off the loan previously held by Wells Fargo, funded loan closing costs and paid the amount due to Hekemian Development Resources for a development fee of $900,000 plus accrued interest of approximately $45,000 (See Note 8 to FREIT’s consolidated financial statements for further details on this fee). This loan bears a floating interest rate at 285 basis points over the one-month LIBOR rate and has a maturity date of February 6, 2021 with two one-year renewal options to extend the maturity of this loan, subject to certain requirements as provided for in the loan agreement. As part of this transaction, Grande Rotunda had purchased an interest rate cap on LIBOR for the full amount that can be drawn on this loan of $121.9 million, capping the one-month LIBOR rate at 3% for the first two years of this loan which matured on March 5, 2020. On February 28, 2020, Grande Rotunda purchased an interest rate cap on LIBOR, with an effective date of March 5, 2020, for the full amount that can be drawn on this loan of $121.9 million, capping the one-month LIBOR rate at 3% for one year. As of October 31, 2020, approximately $118.5 million of this loan facility was drawn down and the interest rate was approximately 2.99%. The loan is secured by the Rotunda property, which has a net book value of approximately $140,206,000 as of October 31, 2020. On November 5, 2020, Grande Rotunda elected to exercise the first extension option on this loan to extend the initial maturity date from February 6, 2021 until February 6, 2022. In order to extend the maturity due date Grande Rotunda must satisfy the following conditions: (a) pay to lender an extension fee of 0.2% of the extended loan balance; (b) certify that no default or events of default exist; (c) extend the interest rate cap to expire on February 6, 2022; and (d) allow lender to obtain an updated appraisal of the property. The principal balance of the amount of the loan to be extended must not exceed a loan-to-value of 62.5%. To the extent the loan-to-value exceeds the 62.5% limit, the loan must be brought in to balance via a loan reduction or by other means satisfactory to the Lender. Management expects the loan to be extended, however, until such time as a definitive agreement providing for a modification and extension of the loan is entered into, there can be no assurance the loan will be modified and extended. 85 Table of Contents (M) Credit line: FREIT’s revolving line of credit provided by the Provident Bank was renewed for a three-year term ending on Certain of the Company’s mortgage loans and the Credit Line contain financial covenants. The Company was in compliance with all of its financial covenants as of October 31, 2020. The lis pendens filed in connection with the legal proceeding between FREIT and certain of its affiliates and Sinatra Properties, LLC may adversely affect FREIT’s ability to refinance certain of its residential properties. (See Note 14 to FREIT’s consolidated financial statements for additional details.) Fair value of long-term debt: The following table shows the estimated fair value and carrying value of FREIT’s long-term debt, net at October 31, 2020 and 2019: October 31, October 31, ($ in Millions) 2020 2019 Fair Value $311.4 $352.9 Carrying Value, Net $305.4 $349.9 Fair values are estimated based on market interest rates at the end of each fiscal year and on a discounted cash flow analysis. Changes in assumptions or estimation methods may significantly affect these fair value estimates. The fair value is based on observable inputs (level 2 in the fair value hierarchy as provided by authoritative guidance). Principal amounts (in thousands of dollars) due under the above obligations in each of the five years subsequent to October 31, 2020 are as follows: Year Ending October 31, Amount 2021 $ 143,388 (a)(b) 2022 $ 17,380 2023 $ 61,713 2024 $ 10,492 2025 $ 15,596 (a) Includes loan on Rotunda property located in Baltimore, Maryland in the amount of approximately $118.5 million which matures on February 6, 2021 and has two one-year renewal options, subject to certain requirements as provided for in the loan agreement. On November 5, 2020, Grande Rotunda elected to exercise the first extension option on this loan to extend the initial maturity date from February 6, 2021 until February 6, 2022. In order to extend the maturity due date Grande Rotunda must satisfy the following conditions: (a) pay to lender an extension fee of 0.2% of the extended loan balance; (b) certify that no default or events of default exist; (c) extend the interest rate cap to expire on February 6, 2022; and (d) allow lender to obtain an updated appraisal of the property. The principal balance of the amount of the loan to be extended must not exceed a loan-to-value of 62.5%. To the extent the loan-to-value exceeds the 62.5% limit, the loan must be brought in to balance via a loan reduction or by other means satisfactory to the Lender. (See Note 5(L)) (b) Includes loan on Westridge Square Shopping Center located in Frederick, Maryland in the amount of approximately $21.8 million which had a maturity date of May 1, 2020 and was extended to November 1, 2020. This loan has been further extended with a new maturity date of January 31, 2021 under the same terms and conditions of the existing agreement while the lender is in discussions with the Company regarding a further modification and extension of this loan.

Interest rate cap and swap cont

Interest rate cap and swap contracts	12 Months Ended
	Oct. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest rate swap contracts	Note 6 -   Interest rate cap and swap contracts: On February 7, 2018, Grande Rotunda refinanced its construction loan with a new loan held by Aareal Capital Corporation in the amount of approximately $118.5 million with additional funding available through February 6, 2021 for retail tenant improvements and leasing costs in the amount of $3,380,000. This loan bears a floating interest rate at 285 basis points over the one-month LIBOR rate and has a maturity date of February 6, 2021 with two one-year options to extend the maturity of this loan, subject to certain requirements as provided for in the loan agreement. 86 Table of Contents At October 31, 2020, the total amount outstanding on this loan was approximately $118.5 million. As part of this transaction, Grande Rotunda had purchased an interest rate cap on LIBOR for the full amount that can be drawn on this loan of $121.9 million, capping the one-month LIBOR rate at 3% for the first two years of this loan which matured on March 5, 2020. On February 28, 2020, Grande Rotunda purchased an interest rate cap on LIBOR, with an effective date of March 5, 2020, for the full amount that can be drawn on this loan of $121.9 million, capping the one-month LIBOR rate at 3% for one year. At October 31, 2020, the derivative financial instrument had a notional amount of $121.9 million and a maturity date of March 5, 2021. On December 7, 2017, Station Place (owned 100% by FREIT) closed on a $12,350,000 mortgage loan with Provident Bank. The loan bears a floating interest rate equal to 180 basis points over the one-month BBA LIBOR with a maturity date of December 15, 2027. At October 31, 2020, the total amount outstanding on this loan was approximately $12.2 million. In order to minimize interest rate volatility during the term of this loan, Station Place entered into an interest rate swap agreement that, in effect, converted the floating interest rate to a fixed interest rate of 4.35% over the term of the loan. At October 31, 2020, the derivative financial instrument had a notional amount of $12.2 million and a maturity date of December 2027. On September 29, 2016, Wayne PSC, a consolidated subsidiary, refinanced its $24.2 million mortgage loan held by Metropolitan Life Insurance Company, with a new mortgage loan from People’s United Bank in the amount of $25.8 million. The new loan bears a floating interest rate equal to 220 basis points over the one-month BBA LIBOR with a maturity date of October 1, 2026. At October 31, 2020, the total amount outstanding on this loan was approximately $23.3 million. In order to minimize interest rate volatility during the term of the loan, Wayne PSC entered into an interest rate swap agreement that, in effect, converted the floating interest rate to a fixed interest rate of 3.625% over the term of the loan. At October 31, 2020, the derivative financial instrument had a notional amount of approximately $23.1 million and a maturity date of October 2026. On December 26, 2012, Damascus Centre refinanced its construction loan with long-term financing provided by People’s United Bank and the first tranche of the new loan was taken down in the amount of $20 million. Based on leasing and net operating income at the shopping center, People’s United Bank agreed to a take-down of the second tranche of this loan on April 22, 2016 in the amount of $2,320,000. The total amount outstanding for both tranches of this loan held with People’s United Bank as of October 31, 2020 was approximately $18.8 million. The loan has a maturity date of January 3, 2023 and bears a floating interest rate equal to 210 basis points over the one-month BBA LIBOR. In order to minimize interest rate volatility during the term of this loan, Damascus Centre entered into an interest rate swap agreement that, in effect, converted the floating interest rate to a fixed interest rate on each tranche of this loan, resulting in a fixed rate of 3.81% over the term of the first tranche of this loan and a fixed rate of 3.53% over the term of the second tranche of this loan. At October 31, 2020, the derivative financial instrument had a notional amount of approximately $18.9 million and a maturity date of January 2023. On December 29, 2014, Regency closed on a $16.2 million mortgage loan with Provident Bank. The loan bears a floating interest rate equal to 125 basis points over the one-month BBA LIBOR and the loan will mature on December 15, 2024. At October 31, 2020, the total amount outstanding on this loan was approximately $15.3 million. In order to minimize interest rate volatility during the term of the loan, Regency entered into an interest rate swap agreement that, in effect, converted the floating interest rate to a fixed interest rate of 3.75% over the term of the loan. At October 31, 2020, the derivative financial instrument had a notional amount of approximately $15.3 million and a maturity date of December 2024. In accordance with ASU 2017-12, which was adopted by FREIT in the first quarter of Fiscal 2020 (see Note 1 to FREIT’s consolidated financial statements for additional details), FREIT is accounting for the Damascus Centre, Regency, Wayne PSC and Station Place interest rate swaps and the Grande Rotunda interest rate cap as cash flow hedges marking these contracts to market, taking into account present interest rates compared to the contracted fixed rate over the life of the contract and recording the unrealized gain or loss on the swaps in comprehensive income. For the year ended October 31, 2020, FREIT recorded an unrealized loss of approximately $2,798,000 in the consolidated statement of comprehensive income representing the change in the fair value of these cash flow hedges during such period. As of October 31, 2020, there was a liability of approximately $610,000 for the Damascus Centre swaps, $1,260,000 for the Wayne PSC swap, $1,385,000 for the Regency swap, $1,669,000 for the Station Place swap and $0 for the Grande Rotunda interest rate cap. In Fiscal 2019 and prior fiscal years, FREIT was accounting for its interest rate swaps and cap contract in accordance with ASC 815. For the year ended October 31, 2019, FREIT recorded an unrealized loss of approximately $6,400,000 in the consolidated statement of comprehensive loss representing the change in the fair value of these cash flow hedges during such period. For the year ended October 31, 2019, FREIT recorded an unrealized loss in the consolidated statement of income of approximately $160,000 for the Grande Rotunda interest rate cap representing the change in the fair value of this ineffective cash flow hedge during such period. As of October 31, 2019, FREIT recorded a liability of approximately $179,000 for the Damascus Centre swaps, $53,000 for the Wayne PSC swap, $860,000 for the Regency swap, $1,034,000 for the Station Place swap and $0 for the Grande Rotunda interest rate 87 Table of Contents cap. For the year ended October 31, 2018, FREIT recorded an unrealized gain of approximately $3,113,000 in comprehensive income representing the change in the fair value of these cash flow hedges during such period with a corresponding asset of approximately $955,000 for the Damascus Centre swaps, $2,452,000 for the Wayne PSC swap, $408,000 for the Regency swap and $460,000 for the Station Place swap as of October 31, 2018. For the year ended October 31, 2018, FREIT recorded an unrealized gain in the consolidated statement of income of approximately $72,000 for the Grande Rotunda, LLC interest rate cap representing the change in the fair value of this ineffective cash flow hedge during such period with a corresponding asset of approximately $160,000 as of October 31, 2018. The fair values are based on observable inputs (level 2 in the fair value hierarchy as provided by authoritative guidance).

Commitments and contingencies

Commitments and contingencies	12 Months Ended
	Oct. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 7 -   Commitments and contingencies: Leases Commercial tenants: FREIT leases commercial space having a net book value of approximately $131.7 million at October 31, 2020 to tenants for periods of up to twenty-five years. Most of the leases contain clauses for reimbursement of real estate taxes, maintenance, insurance and certain other operating expenses of the properties. As discussed in Note 1, fixed lease income under our operating leases generally includes fixed minimum lease consideration which are accrued on a straight-line basis over the terms of the leases. Variable lease income includes consideration based on sales, as well as reimbursements for real estate taxes, maintenance, insurance and certain other operating expenses of the properties. Minimum fixed lease consideration (in thousands of dollars) under non-cancellable tenant operating leases for each of the next five years and thereafter, excluding rents from tenants for which collectability is deemed to be constrained and variable lease consideration, subsequent to October 31, 2020, is as follows: Year Ending October 31, Amount 2021 $ 17,253 2022 14,470 2023 11,809 2024 9,640 2025 8,191 Thereafter 25,601 Total $ 86,964 The above amounts assume that all leases which expire are not renewed and, accordingly, neither minimal rentals nor rentals from replacement tenants are included. Minimum future rentals do not include contingent rentals, which may be received under certain leases on the basis of percentage of reported tenants' sales volume. Rental income that is contingent on future events is not included in income until the contingency is resolved. Contingent rentals included in income for each of the three years for the period ended October 31, 2020 were not material. Residential tenants: Lease terms for residential tenants are usually one to two years. Environmental concerns The Westwood Plaza Shopping Center property is in a Flood Hazard Zone. FREIT maintains flood insurance in the amount of $500,000 for the subject property, which is the maximum available under the Flood Program for the property. Any reconstruction of that portion of the property situated in the flood hazard zone is subject to regulations promulgated by the New Jersey Department of Environmental Protection ("NJDEP"), which could require extraordinary construction methods. FREIT acquired the Westwood Plaza property in 1988, and the property has not experienced any flooding that gave rise to any claims under FREIT’s flood insurance in this time period.

Management agreement, fees and

Management agreement, fees and transactions with related party	12 Months Ended
	Oct. 31, 2020
Related Party Transactions [Abstract]
Management agreement, fees and transactions with related party	Note 8 -   Management agreement, fees and transactions with related party: On April 10, 2002, FREIT and Hekemian & Co., Inc. (“Hekemian”) executed a Management Agreement whereby Hekemian would continue as Managing Agent for FREIT. The term of the Management Agreement was renewed on November 1, 2019 for a two-year term which will expire on October 31, 2021. The Management Agreement automatically renews for successive periods of two years unless either party gives not less than six (6) months prior notice of non-renewal. 88 Table of Contents Hekemian currently manages all the properties owned by FREIT and its affiliates, except for the office building at The Rotunda located in Baltimore, Maryland, which is managed by an independent third party management company. However, FREIT may retain other managing agents to manage properties acquired after April 10, 2002 and to perform various other duties such as sales, acquisitions, and development with respect to any or all properties. Hekemian does not serve as the exclusive property acquisition advisor to FREIT and is not required to offer potential acquisition properties exclusively to FREIT before acquiring those properties for its own account. The Management Agreement includes a detailed schedule of fees for those services, which Hekemian may be called upon to perform. The Management Agreement provides for a termination fee in the event of a termination or non-renewal of the Management Agreement under certain circumstances. On January 14, 2020, in connection with entering into the Purchase and Sale Agreement, FREIT and Hekemian entered into a First Amendment to Management Agreement (the “First Amendment”), which amends the Management Agreement. The First Amendment would become effective if, and only if, the Plan of Liquidation became effective. Since the Plan of Liquidation did not become effective due to the termination of the Purchase and Sale Agreement, the First Amendment did not become effective. (See Notes 14 and 15 to FREIT’s consolidated financial statements for further details.) The Management Agreement with Hekemian, effective November 1, 2001, requires the payment of management fees equal to 4% to 5% of rents collected. Such fees, charged to operations, were approximately $2,201,000, $2,549,000, and $2,438,000 in Fiscal 2020, 2019 and 2018, respectively. In addition, the Management Agreement provides for the payment to Hekemian of leasing commissions, as well as the reimbursement of operating expenses incurred on behalf of FREIT. Such commissions and reimbursements amounted to approximately $982,000, $762,000 and $742,000 in Fiscal 2020, 2019 and 2018, respectively. Total Hekemian management fees outstanding at October 31, 2020 and 2019 were approximately $182,000 and $219,000, respectively, and included in accounts payable on the accompanying consolidated balance sheets. FREIT also uses the resources of the Hekemian insurance department to secure various insurance coverages for its properties and subsidiaries. Hekemian is paid a commission for these services. Such commissions were charged to operations and amounted to approximately $190,000, $196,000 and $178,000 in Fiscal 2020, 2019 and 2018, respectively. Grande Rotunda, LLC owns and operates the Rotunda property. FREIT owns a 60% equity interest in Grande Rotunda, LLC and Rotunda 100, LLC (“Rotunda 100”) owns a 40% equity interest in Grande Rotunda, LLC. The equity owners of Rotunda 100 and Damascus 100 are principally employees of Hekemian. To incentivize the employees of Hekemian, FREIT advanced, only to employees of Hekemian, up to 50% of the amount of the equity contributions that the Hekemian employees were required to invest in Rotunda 100 and Damascus 100. These advances were in the form of secured loans that bear interest at rates that float at 225 basis points over the ninety (90) day LIBOR, as adjusted each November 1, February 1, May 1 and August 1. These loans are secured by the Hekemian employees’ interests in Rotunda 100 and Damascus 100, and are full recourse loans. Interest only payments are required to be made when billed. No principal payments are required during the term of the notes, except that the borrowers are required to pay to FREIT all refinancing proceeds and other cash flow they receive from their interests in Damascus Centre, LLC and Grande Rotunda, LLC. These payments shall be applied first to accrued and unpaid interest and then any outstanding principal. The notes originally had maturity dates at the earlier of (a) ten (10) years after issue (Grande Rotunda, LLC– 6/19/2015, Damascus Centre, LLC – 9/30/2016), or, (b) at the election of FREIT, ninety (90) days after the borrower terminates employment with Hekemian, at which time all outstanding unpaid principal and interest is due. On May 8, 2008, the Board approved amendments to the existing loan agreements with the Hekemian employees, relative to their interests in Rotunda 100, to increase the aggregate amount that FREIT may advance to such employees from $2 million to $4 million. On June 4, 2015, the Board approved an extension of the maturity date of the secured loans to occur the earlier of (a) June 19, 2018 or (b) five days after the closing of a permanent mortgage loan secured by the Rotunda property. On December 7, 2017, the Board approved a further extension of the maturity dates of these loans to the date or dates upon which distributions of cash are made by Grande Rotunda, LLC to its members as a result of a refinancing or sale of Grande Rotunda, LLC or the Rotunda property. In the fourth quarter of Fiscal 2018, the Damascus 100 members repaid their secured notes outstanding in full for a total payment of $1,870,000 which was composed of principal in the amount of $1,451,000 and accrued interest in the amount of approximately $419,000. The aggregate outstanding principal balance of the Rotunda 100 notes was $4,000,000 at both October 31, 2020 and 2019. The accrued but unpaid interest related to these notes as of October 31, 2020 and 2019 amounted to approximately $1,194,000 and $1,053,000, respectively, and is included in secured loans receivable on the accompanying consolidated balance sheets. In Fiscal 2017, Grande Rotunda, LLC incurred substantial expenditures at the Rotunda property related to retail tenant improvements, leasing costs and operating expenditures which, in the aggregate, exceeded revenues as the property was still in the rent up phase and the construction loan held with Wells Fargo at that time was at its maximum level, with no additional funding available to draw. Accordingly, during Fiscal 2017 the equity owners in 89 Table of Contents Grande Rotunda, LLC (FREIT with a 60% ownership and Rotunda 100 with a 40% ownership) contributed their respective pro-rata share of any cash needs through loans to Grande Rotunda, LLC. As of October 31, 2020 and 2019, Rotunda 100 has funded Grande Rotunda, LLC with approximately $5.9 million and $5.7 million (including accrued interest), respectively, which is included in “Due to affiliate” on the accompanying consolidated balance sheets. From time to time, FREIT engages Hekemian, or certain affiliates of Hekemian, to provide additional services, such as consulting services related to development, property sales and financing activities of FREIT. Separate fee arrangements are negotiated between Hekemian and FREIT with respect to such additional services. Such fees incurred during Fiscal 2020, 2019 and 2018 were $125,000, $275,000 and $1,195,000, respectively. Fees incurred during Fiscal 2020 related to commissions to Hekemian for the refinancing of the Westwood Hills, LLC loan. Fees incurred during Fiscal 2019 related to commissions to Hekemian for the following: $131,250 for the sale of the Patchogue property; $144,075 for the refinancing of the Berdan Court, LLC loan. Fees incurred during Fiscal 2018 related to commissions to Hekemian for the following: $522,500 for the purchase of the Station Place property; $400,000 for the refinancing of the Grande Rotunda, LLC loan; $240,000 for the refinancing of the Pierre Towers, LLC loan; $32,500 for the renewal of FREIT’s line of credit. In Fiscal 2007, FREIT’s Board of Trustees approved and FREIT executed a development fee agreement for the Rotunda redevelopment project for the development services to be provided by Hekemian Development Resources, LLC (“Resources”), a wholly-owned subsidiary of Hekemian. The development fee agreement, as amended, for the Rotunda provided for Resources to receive a fee equal to 6.375% of the development costs as defined in the development agreement, less the amount of $3 million previously paid to Hekemian for the Rotunda project. As part of this agreement, the Board approved the payment of a fee to Resources in the amount of $1.4 million in connection with the revision to the scope of the Rotunda redevelopment project. Grande Rotunda, LLC paid $500,000 of this fee to Resources in Fiscal 2013 and the balance of $900,000 became due upon the issuance of a certificate of occupancy for the multi-family portion of this project. A final certificate of occupancy was issued in Fiscal 2016; however, Resources agreed to defer the payment of the $900,000 balance of this fee. Grande Rotunda, LLC paid the $900,000 portion of this fee to Resources in February 2018 with the proceeds from the refinancing of the Wells Fargo construction loan with the new loan from Aareal Capital Corporation. Additionally, Grande Rotunda, LLC paid Resources the amount of approximately $45,000 representing a mutually agreed upon amount of interest on the $900,000 portion of the fee for the period during which Hekemian Resources had agreed to defer payment thereof. Robert S. Hekemian, Jr., Chief Executive Officer, President and a Trustee of the Trust, is the President and Chief Operating Officer of Hekemian. David B. Hekemian, a Trustee of the Trust, is the Principal/Broker – Salesperson and Director of Commercial Brokerage of Hekemian. Robert S. Hekemian, the former Chairman and Chief Executive Officer of the Trust, served as a consultant to the Trust and Chairman of the Board and Chief Executive Officer of Hekemian prior to his death in December 2019. Allan Tubin, Chief Financial Officer and Treasurer of the Trust, is the Chief Financial Officer of Hekemian. Trustee fee expense and/or executive compensation (including interest and dividends) incurred by FREIT for Fiscal 2020, 2019 and 2018 was approximately $21,000, $214,000 and $365,000, respectively, for Robert S. Hekemian, $508,000 (including a $100,000 adjustment in Fiscal 2020 related to final approved Fiscal 2019 compensation), $381,000 and $235,000, respectively, for Robert S. Hekemian, Jr., $26,000, $22,000 and $0, respectively, for Allan Tubin and $50,000, $56,000 and $26,000, respectively, for David Hekemian. (See Note 11 to FREIT’s consolidated financial statements). Effective upon the late Robert S. Hekemian’s retirement as Chairman, Chief Executive Officer and as a Trustee on April 5, 2018, FREIT entered into a Consulting Agreement with Mr. Hekemian, pursuant to which Mr. Hekemian provided consulting services to the Trust through December 2019. The Consulting Agreement obliged Mr. Hekemian to provide advice and consultation with respect to matters pertaining to FREIT and its subsidiaries, affiliates, assets and business for no fewer than 30 hours per month during the term of the agreement. FREIT paid Mr. Hekemian a consulting fee of $5,000 per month during the term of the Consulting Agreement, which was payable in the form of Shares on a quarterly basis (i.e. in quarterly installments of $15,000). The number of Shares to be issued for each quarterly installment of the consulting fee was determined by dividing the dollar amount of the consulting fee by the closing price of one Share on the OTC Pink Open Market as of the close of trading on the last trading day of the calendar quarter with respect to which such consulting fee was payable. For Fiscal 2020, 2019 and 2018, consulting fee expense for Robert S. Hekemian was approximately $8,000, $60,000 and $34,200, respectively.

Income taxes

Income taxes	12 Months Ended
	Oct. 31, 2020
Income Tax Disclosure [Abstract]
Income taxes	Note 9 -   Income taxes: FREIT has elected to be treated as a REIT for federal income tax purposes and as such intends to distribute 100% of its ordinary taxable income to its shareholders as dividends for the fiscal year ending October 31, 2020. There is no ordinary taxable income for the fiscal year ending October 31, 2020 and no dividends have been made/declared for 90 Table of Contents Fiscal 2020. Accordingly, no provision for federal or state income taxes related to such ordinary taxable income was recorded in FREIT’s consolidated financial statements. FREIT distributed 100% of its ordinary taxable income and 100% of its capital gain from the sale of the Patchogue, New York property to its shareholders as dividends for the fiscal year ended October 31, 2019. FREIT distributed 100% of its ordinary taxable income to its shareholders as dividends for the fiscal year ended October 31, 2018. Accordingly, no provision for federal or state income taxes related to such ordinary taxable income and such gain was recorded in FREIT’s consolidated financial statements for the fiscal years ended October 31, 2019 and 2018. As of October 31, 2020, FREIT had no material uncertain income tax positions. The tax years subsequent to and including the fiscal year ended October 31, 2018 remain open to examination by the major taxing jurisdictions.

Equity incentive plan

Equity incentive plan	12 Months Ended
	Oct. 31, 2020
Share-based Payment Arrangement [Abstract]
Equity incentive plan	Note 10 -  Equity incentive plan: On September 10, 1998, the Board approved FREIT's Equity Incentive Plan (the "Plan") which was ratified by FREIT's shareholders on April 7, 1999, whereby up to 920,000 of FREIT's shares of beneficial interest (adjusted for stock splits) may be granted to key personnel in the form of stock options, restricted share awards and other share-based awards. In connection therewith, the Board approved an increase of 920,000 shares in FREIT's number of authorized shares of beneficial interest. Key personnel eligible for these awards include trustees, executive officers and other persons or entities including, without limitation, employees, consultants and employees of consultants, who are in a position to make significant contributions to the success of FREIT. Under the Plan, the exercise price of all options will be the fair market value of the shares on the date of grant. The consideration to be paid for restricted share and other share-based awards shall be determined by the Board, with the amount not to exceed the fair market value of the shares on the date of grant. The maximum term of any award granted may not exceed ten years. The Board will determine the actual terms of each award. On April 4, 2007, FREIT shareholders approved amendments to the Plan as follows: (a) reserving an additional 300,000 shares for issuance under the Plan; and (b) extending the term of the Plan until September 10, 2018. On April 5, 2018, FREIT shareholders approved amendments to the Plan to (a) increase the number of shares reserved for issuance thereunder by an additional 300,000 shares and (b) further extend the term of the Plan from September 10, 2018 to September 10, 2028. As of October 31, 2020, 442,060 shares are available for issuance under the Plan. On September 4, 2014, the Board approved the grant of an aggregate of 246,000 non-qualified share options under the Plan to certain FREIT executive officers, the members of the Board and certain employees of Hekemian & Co., Inc., FREIT’s managing agent. The options have an exercise price of $18.45 per share, fully vested on September 3, 2019 and will expire 10 years from the date of grant, which will be September 3, 2024. On November 10, 2016, the Board approved the grant of an aggregate of 38,000 non-qualified share options under the Plan to two members of the Board who were appointed to the Board during Fiscal 2016. The options have an exercise price of $21.00 per share, will vest in equal annual installments over a 5-year period and will expire 10 years from the date of grant, which will be November 9, 2026. On May 3, 2018, the Board approved the grant of an aggregate of 38,000 non-qualified share options under the Plan to two members of the Board who were appointed to the Board during Fiscal 2018. The options have an exercise price of $15.50 per share, will vest in equal annual installments over a 5-year period and will expire 10 years from the date of grant, which will be May 2, 2028. On March 4, 2019, the Board approved the grant of an aggregate of 5,000 non-qualified share options under the Plan to the Chairman of the Board. The options have an exercise price of $15.00 per share, will vest in equal annual installments over a 5-year period and will expire 10 years from the date of grant, which will be March 3, 2029. The following table summarizes stock option activity for Fiscal 2020, Fiscal 2019 and Fiscal 2018: Year Ended October 31, Year Ended October 31, Year Ended October 31, 2020 2019 2018 No. of Options Exercise No. of Options Exercise No. of Options Exercise Outstanding Price Outstanding Price Outstanding Price Options outstanding at beginning of year 310,740 $ 18.35 305,780 $ 18.40 267,780 $ 18.81 Options granted during year — — 5,000 15.00 38,000 15.50 Options forfeited/cancelled during year — — (40 ) 18.45 — — Options outstanding at end of year 310,740 $ 18.35 310,740 $ 18.35 305,780 $ 18.40 Options vested and expected to vest 308,310 308,310 299,140 Options exercisable at end of year 276,340 260,140 200,260 91 Table of Contents The estimated fair value of options granted during Fiscal 2019 was $2.43 per option. Such value was estimated on the grant date using a binomial lattice option pricing model using the following assumptions: • Expected volatility – 27.69% • Risk-free interest rate – 2.72% • Imputed option life – 6.3 years • Expected dividend yield – 3.82% The estimated fair value of options granted during Fiscal 2018 was $2.09 per option. Such value was estimated on the grant date using a binomial lattice option pricing model using the following assumptions: • Expected volatility – 27.6% • Risk-free interest rate – 2.94% • Imputed option life – 6.6 years • Expected dividend yield – 4.7% The expected volatility over the options’ expected life was based on the historical volatility of the weekly closing price of the Company’s stock over a five (5) year period. The risk-free interest rate was based on the annual yield on the grant date of a zero-coupon U.S. Treasury Bond, the maturity of which equals the option’s expected life. The imputed option life was based on the simplified expected term calculation permitted by the SEC, which defines the expected life as the average of the contractual term of the options and the weighted-average vesting period for all option tranches. The expected dividend yield was based on the Company’s historical dividend yield, exclusive of capital gain dividends. The fair value is based on observable inputs (level 2 in the fair value hierarchy as provided by authoritative guidance). For Fiscal 2020, 2019 and 2018, compensation expense related to stock options granted amounted to approximately $46,000, $124,000 and $130,000, respectively. At October 31, 2020, there was approximately $71,000 of unrecognized compensation cost relating to outstanding non-vested stock options to be recognized over the remaining weighted average vesting period of approximately 2.3 years. There was no aggregate intrinsic value of options vested and expected to vest and options exercisable at October 31, 2020 as the exercise price of the options was greater than the market price.

Deferred fee plan

Deferred fee plan	12 Months Ended
	Oct. 31, 2020
Deferred Compensation Arrangements [Abstract]
Deferred fee plan	Note 11 -  Deferred fee plan: During Fiscal 2001, the Board adopted a deferred fee plan for its officers and trustees, which was amended and restated in Fiscal 2009 to make the deferred fee plan compliant with Section 409A of the Internal Revenue Code and the regulations promulgated thereunder (the "Deferred Fee Plan"). Pursuant to the Deferred Fee Plan, any officer or trustee may elect to defer receipt of any fees that would be due them. These fees include annual retainer and meeting attendance fees as determined by the full Board of Trustees. Prior to the amendments to the Deferred Fee Plan that went into effect November 1, 2014 (described in the following paragraph), amounts deferred under the Deferred Fee Plan accrued interest at a rate of 9% per annum, compounded quarterly. Any such deferred fee is to be paid to the Participants at the later of: (i) the retirement age specified in the deferral election; (ii) actual retirement; or (iii) upon cessation of a Participant's duties as an officer or trustee. On September 4, 2014, the Board approved amendments, effective November 1, 2014, to the FREIT Deferred Fee Plan for its Executive Officers and Trustees, one of which provides for the issuance of share units payable in FREIT shares in respect of (i) deferred amounts of all Trustee fees on a prospective basis; (ii) interest on Trustee fees deferred prior to November 1, 2014 (payable at a floating rate, adjusted quarterly, based on the average 10-year Treasury Bond interest rate plus 150 basis points); and (iii) dividends payable in respect of share units allocated to participants in the Deferred Fee Plan as a result of deferrals described above. The number of share units credited to a participant’s account will be determined by the closing price of FREIT shares on the date as set forth in the Deferred Fee Plan. All fees payable to Trustees for the year ended October 31, 2020 and 2019 were deferred under the Deferred Fee Plan except for fees payable to one Trustee, who elected to receive such fees in cash. All fees payable to Trustees for the year ended October 31, 2018 were deferred under the Deferred Fee Plan except for the fees payable to three Trustees, who elected to receive such fees in cash. As a result of the amendment to the Deferred Fee Plan described above, for the years ended October 31, 2020 and 2019, the aggregate amounts of deferred Trustee fees together with related interest and dividends were approximately $526,000 and $986,000, respectively, which have been paid through the issuance of 29,134 and 60,148, vested FREIT share units, respectively, based on the closing price of FREIT shares on the dates as set forth in the Deferred Fee Plan. For the years ended October 31, 2020 and 2019, FREIT has charged as expense approximately $526,000 and $879,800, respectively, representing deferred Trustee fees and interest, and the balance of approximately $0 and 92 Table of Contents $106,200, respectively, representing dividends payable in respect of share units allocated to Plan participants, has been charged to equity. The Deferred Fee Plan, as amended, provides that cumulative fees together with accrued interest deferred as of November 1, 2014 will be paid in a lump sum or in annual installments over a period not to exceed 10 years, at the election of the Participant. In connection with the termination of Robert S. Hekemian’s service to the Trust under the Consulting Agreement between Mr. Hekemian and the Trust in December 2019, Mr. Hekemian’s accrued plan benefits under the Deferred Fee Plan became payable to him and were paid in a single lump sum in the amount of approximately $4.8 million. As of October 31, 2020 and 2019, approximately $1,542,000 and $4,422,000, respectively, of fees has been deferred together with accrued interest of approximately $1,091,000 and $3,188,000, respectively.

Dividends and earnings per shar

Dividends and earnings per share	12 Months Ended
	Oct. 31, 2020
Earnings Per Share [Abstract]
Dividends and earnings per share	Note 12 -  Dividends and earnings per share: FREIT did not declare any dividends to shareholders of record during Fiscal 2020. FREIT declared dividends of approximately $4,173,000 ($0.60 per share) and $1,035,000 ($0.15 per share) to shareholders of record during Fiscal 2019 and 2018, respectively. Basic earnings per share is calculated by dividing net income attributable to common equity (numerator) by the weighted average number of shares and vested share units (See Note 11 to FREIT’s consolidated financial statements) outstanding during each period (denominator). The calculation of diluted earnings per share is similar to that of basic earnings per share, except that the denominator is increased to include the number of additional shares that would have been outstanding if all potentially dilutive shares, such as those issuable upon the exercise of stock options, were issued during the period using the Treasury Stock method. Under the Treasury Stock method, the assumption is that the proceeds received upon exercise of the options, including the unrecognized stock option compensation expense attributable to future services, are used to repurchase FREIT’s stock at the average market price during the period, thereby reducing the number of shares to be added in computing diluted earnings per share. For Fiscal 2020, the outstanding stock options increased the average dilutive shares outstanding by approximately 1,500 shares with no impact on earnings per share. For Fiscal 2019 and 2018, the outstanding stock options were anti-dilutive with no impact on diluted earnings per share. There were approximately 268,000, 306,000 and 306,000, respectively, of anti-dilutive shares for the years ended October 31, 2020, 2019 and 2018. Anti-dilutive shares consist of out-of-the money stock options under the Equity Incentive Plan.

Segment information

Segment information	12 Months Ended
	Oct. 31, 2020
Segment Reporting [Abstract]
Segment information	Note 13 -  Segment information: ASC 280-10, " Disclosures about Segments of an Enterprise and Related Information FREIT has determined that it has two reportable segments: commercial properties and residential properties. These reportable segments offer different types of space, have different types of tenants, and are managed separately because each requires different operating strategies and management expertise. The commercial segment is comprised of eight (8) properties, excluding the land and building formerly occupied as a Pathmark supermarket in Patchogue, New York, which was sold on February 8, 2019 (see Note 2), during the fiscal years ended October 31, 2020 and 2019. The commercial segment was comprised of nine (9) properties during the fiscal year ended October 31, 2018. The residential segment is comprised of seven (7) properties, excluding the Pierre Towers property which was converted into a tenancy-in-common and deconsolidated from FREIT’s operating results as of February 28, 2020 (see Note 17 to FREIT’s consolidated financial statements for further details), during the fiscal year ended October 31, 2020. The residential segment was comprised of eight (8) properties during the fiscal years ended October 31, 2019 and 2018. The accounting policies of the segments are the same as those described in Note 1. The chief operating and decision-making group of FREIT's commercial segment, residential segment and corporate/other is comprised of FREIT’s Board of Trustees. FREIT assesses and measures segment operating results based on net operating income ("NOI"). NOI, a standard used by real estate professionals, is based on operating revenue and expenses directly associated with the operations of the real estate properties, but excludes: deferred rents (straight lining), depreciation, financing costs and other items. NOI is not a measure of operating results or cash flows from operating activities as measured by accounting principles generally accepted in the United States of America, and is not necessarily indicative of cash available to fund cash needs and should not be considered an alternative to cash flows as a measure of liquidity. Real estate rental revenue, operating expenses, NOI and recurring capital improvements for the reportable segments are summarized below and reconciled to consolidated net income attributable to common equity for each of the years 93 Table of Contents in the three-year period ended October 31, 2020. Asset information is not reported since FREIT does not use this measure to assess performance. Years Ended October 31, 2020 2019 2018 (In Thousands of Dollars) Real estate rental revenue: Commercial $ 24,486 $ 26,692 $ 25,464 Residential 28,638 33,175 31,928 Total real estate rental revenue 53,124 59,867 57,392 Real estate operating expenses: Commercial 11,334 11,694 11,861 Residential 11,588 14,368 13,022 Total real estate operating expenses 22,922 26,062 24,883 Net operating income: Commercial 13,152 14,998 13,603 Residential 17,050 18,807 18,906 Total net operating income $ 30,202 $ 33,805 $ 32,509 Recurring capital improvements - residential $ (347 ) $ (685 ) $ (738 ) Reconciliation to consolidated net income attributable to common equity:   Segment NOI $ 30,202 $ 33,805 $ 32,509 Deferred rents - straight lining (397 ) 410 605 Investment income 204 360 267 Unrealized (loss) gain on interest rate cap contract — (160 ) 72 Special Committee third party advisory, legal and other expenses (4,606 ) (1,416 ) — Gain on sale of property — 836 — Gain on deconsolidation of subsidiary 27,680 — — Loss on investment in tenancy-in-common (202 ) — — General and administrative expenses (3,821 ) (2,633 ) (2,305 ) Depreciation (10,341 ) (11,339 ) (11,515 ) Tenant improvement write-off due to COVID-19 (7,277 ) — — Financing costs (14,122 ) (18,070 ) (18,667 ) Net income 17,320 1,793 966 Net loss (income) attributable to noncontrolling interests in subsidiaries   3,233 (6 ) 517 Net income attributable to common equity $ 20,553 $ 1,787 $ 1,483

Termination of Purchase and Sal

Termination of Purchase and Sale Agreement	12 Months Ended
	Oct. 31, 2020
Business Combination, Consideration Transferred [Abstract]
Termination of Purchase and Sale Agreement	Note 14 -  Termination of Purchase and Sale Agreement: On January 14, 2020, FREIT and certain of its affiliates (collectively, the “Sellers”), entered into a Purchase and Sale Agreement (as subsequently amended, the “Purchase and Sale Agreement”) with Sinatra Properties LLC (the “Purchaser”), which as subsequently amended, provided for the sale by the Sellers to the Purchaser of 100% of the Sellers’ ownership interests in six real properties held by the Sellers in exchange for the purchase price described therein, subject to the terms and conditions of the Purchase and Sale Agreement. On April 30, 2020, the Sellers delivered written notice to the Purchaser of the Sellers’ termination of the Purchase and Sale Agreement in accordance with its terms due to the occurrence of a “Purchaser Default” thereunder, based on the Purchaser’s failure to perform its obligations under the Purchase and Sale Agreement and close the transactions contemplated therein. Upon the execution of the Purchase and Sale Agreement, the Purchaser delivered into escrow a deposit in the amount of $15 million (the “Deposit”), in the form of an unconditional, irrevocable letter of credit in such amount (the “Letter of Credit”). The Purchase and Sale Agreement provides that the Sellers’ exclusive remedy, in the event of a “Purchaser Default” and the termination of the Purchase and Sale Agreement, is the forfeiture of the Deposit to the Sellers as liquidated damages. Accordingly, contemporaneously with the Sellers’ delivery of the termination notice to the Purchaser, the Sellers delivered written notice to the escrow agent requesting that the escrow agent release the Letter of Credit from escrow and deliver same to the Sellers. On May 6, 2020, the Purchaser filed a complaint (the “Complaint”) against the Sellers in the Superior Court of New Jersey, in which, among other things, the Purchaser alleges breach of contract and breach of the covenant of good faith and fair dealing against the Sellers in connection with the Sellers’ termination of the Purchase and Sale Agreement. The Purchaser seeks (a) a judgment of specific performance compelling the Sellers to convey the properties under the Purchase and Sale Agreement to the Purchaser; (b) declaratory judgment from the court that (i) the Purchase and Sale Agreement is not terminated, (ii) the Purchaser is not in default under the Purchase and Sale 94 Table of Contents Agreement, and (iii) the Sellers are in default under the Purchase and Sale Agreement, subject to a right to cure; (c) an order for injunctive relief compelling the Sellers to perform the Purchase and Sale Agreement; (d) in the event that the court does not order specific performance, a judgment directing that the Purchaser’s $15 million deposit under the Purchase and Sale Agreement be returned to the Purchaser, and compensatory, consequential and incidental damages in an amount to be determined at trial; and (e) attorneys’ fees and costs. The Purchaser has filed lis pendens with respect to each of the six properties that were subject to the Purchase and Sale Agreement. The lis pendens provides notice to the public of the Complaint. Pending the resolution of this litigation, the filing of the lis pendens will adversely affect the future sale or financing of those properties. On June 17, 2020, the Sellers filed their answer, separate defenses, and counterclaims (the “Answer”) in response to the Complaint, in which, among other things, the Sellers (a) deny the Purchaser’s claim that the Sellers’ termination of the Purchase and Sale Agreement was wrongful, and assert that there was no contractual basis in the Purchase and Sale Agreement to relieve the Purchaser from its obligation to perform thereunder, or to defer or postpone the Purchaser’s obligation to perform, (b) assert certain defenses to the allegations set forth in the Complaint without admitting any liability, and (c) request relief from the Court in the form of (i) judgment in the Sellers’ favor dismissing all of the Purchaser’s claims against them with prejudice and denying all of the Purchaser’s requests for relief, (ii) reasonable attorneys’ fees and costs, and (iii) such other and further relief as the Court deems just. In addition, the Answer asserts counterclaims by the Sellers against the Purchaser for breach of contract due to the Purchaser’s failure to close the Purchase and Sale Agreement in accordance with its terms, and the Sellers seek a declaratory judgment from the Court that the Sellers properly terminated the Purchase and Sale Agreement in accordance with its terms due to the Purchaser’s default and an order from the Court that the Purchaser authorize the escrow agent to release the $15 million deposit under the Purchase and Sale Agreement to the Sellers. In connection with these counterclaims, the Answer seeks the following relief from the Court: (a) liquidated damages in the amount of $15 million, as provided in the Purchase and Sale Agreement; (b) in the alternative to the liquidated damages provided for in the Purchase and Sale Agreement, money damages in an amount to be determined at trial; (c) interest, attorneys’ fees and costs associated with the defense of the Purchaser’s claims and the prosecution of the Sellers’ counterclaims against the Purchaser, as provided for in the Purchase and Sale Agreement; (d) judgment declaring that the Sellers properly terminated the Purchase and Sale Agreement due to the Purchaser’s default thereunder; (e) judgment declaring that the Purchaser must authorize the escrow agent to release the $15 million deposit to the Sellers; and (f) such other relief as the Court deems just and equitable. The Sellers believe that the allegations set forth in the Complaint are without merit and intend to vigorously defend the action and enforce the Sellers’ rights and remedies under the Purchase and Sale Agreement in connection with the “Purchaser Default” thereunder, including the Purchaser’s forfeiture of its $15 million deposit to the Sellers as liquidated damages as provided in the Purchase and Sale Agreement. As of the year ended October 31, 2020, the $15 million deposit has not been included in income in the accompanying consolidated statement of income. During the years ended October 31, 2020 and 2019, the Special Committee of the Board incurred on behalf of the Company approximately $4,606,000 and $1,416,000, respectively, of third party advisory, legal and other expenses related to its activities. Legal costs attributed to the legal proceedings between FREIT and certain of its affiliates and Sinatra Properties, LLC have been incurred in the amount of approximately $957,000 for the year ended October 31, 2020.

Termination of Plan of Liquidat

Termination of Plan of Liquidation	12 Months Ended
	Oct. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Termination of Plan of Liquidation	Note 15 - Termination of Plan of Liquidation: On January 14, 2020, the Trust’s Board of Trustees adopted a Plan of Voluntary Liquidation with respect to the Trust (the “Plan of Liquidation”), which provided for the voluntary dissolution, termination and liquidation of the Trust by the sale, conveyance, transfer or delivery of all of the Trust’s remaining assets in accordance with the terms and conditions of the Plan of Liquidation and the Internal Revenue Code of 1986, as amended, and the Treasury regulations thereunder. The Plan of Liquidation provided that it would become effective upon (i) approval by a majority of the votes cast by Trust’s shareholders present in person or represented by proxy at a duly called meeting of the Trust’s shareholders at which a quorum is present and (ii) the consummation of the transactions contemplated by the Purchase and Sale Agreement. While the Plan of Liquidation received shareholder approval, the Plan of Liquidation did not become effective as the Sellers terminated the Purchase and Sale Agreement by written notice delivered to the Purchaser on April 30, 2020, and the transactions contemplated thereby were not consummated. Accordingly, the Trust did not proceed with the sale, conveyance, transfer or delivery of all of the Trust’s remaining assets as contemplated by the Plan of Liquidation that was adopted by the Board on January 14, 2020.

COVID-19 Pandemic

COVID-19 Pandemic	12 Months Ended
	Oct. 31, 2020
Covid 19Pandemic Abstract
COVID-19 Pandemic	Note 16 – COVID-19 Pandemic: The international spread of COVID-19 was declared a global pandemic by the World Health Organization on March 11, 2020. The extent to which this pandemic could continue to affect our financial condition, liquidity, and results of 95 Table of Contents operations is difficult to predict and depends on evolving factors, including: duration, scope, government actions, and other social responses. Many states in the U.S., including New Jersey, New York and Maryland, where our properties are located, implemented stay-at-home and shutdown orders for all "non-essential" business and activity in an aggressive effort to mitigate the spread of COVID-19. While some of these orders had been fully or partially lifted from earlier this year, the U.S. is experiencing a second wave of this pandemic. Many of our commercial tenants have not been able to open or resume operations at full capacity due to continued restrictions imposed upon them. As the impact of the pandemic has been evolving, it continues to cause uncertainty and volatility in the financial markets. The COVID-19 pandemic and the actions taken by individuals, businesses and government authorities to reduce its spread have caused substantial lost business revenue, changes in consumer behavior and large reductions in liquidity and fair value of many assets. These and other adverse conditions that may unfold in the future are expected to continue until such time as shutdown orders are fully lifted, and all business operations and commercial activity can fully resume. The lifting of all government shutdown orders cannot be predicted with any certainty. Further, even after such orders are fully lifted, the resumption of business operations and commercial activity will depend on several factors, including prevailing sentiments among workers and consumers regarding the safety of resuming public activity, and cannot be predicted with any certainty. Despite the COVID-19 pandemic and preventive measures taken to mitigate the spread, our residential properties continue to generate cash flow. At our commercial properties, with the exception of grocery stores and other "essential" businesses, many of our retail tenants have been and continue to be adversely affected by the mandated shutdowns or continued imposed restrictions. The overall average cash realization for the commercial properties, based on monthly billings as compared to monthly cash collections from April through October 2020, was approximately 74%. The Company is closely monitoring changes in the collectability assessment of its tenant receivables as a result of certain tenants suffering adverse financial consequences related to the COVID-19 pandemic. During the fiscal year ended October 31, 2020, rental revenue deemed uncollectible of approximately $1.4 million (with a consolidated impact to FREIT of approximately $0.9 million) was classified as a reduction in rental revenue based on our assessment of the probability of collecting substantially all of the remaining rents for certain tenants. Additionally, FREIT incurred an increase in expense for the reserve of uncollectible rents of approximately $0.3 million (with a consolidated impact to FREIT of approximately $0.2 million) for the year ended October 31, 2020. As of October 31, 2020, FREIT has applied approximately $387,000 of security deposits from its commercial tenants to outstanding receivables due. On a case by case basis, FREIT has offered some commercial tenants deferrals of rent and rent abatements over a specified time period totaling approximately $206,000 and $238,000, respectively, (with a consolidated impact to FREIT of approximately $192,000 and $156,000, respectively) through fiscal year ended October 31, 2020. FREIT currently remains in active discussions and negotiations with these impacted retail tenants. Additionally, Cobb Theatre, an anchor tenant movie theatre at the Rotunda retail property filed for bankruptcy and rejected its lease at the Rotunda property as of June 30, 2020. As a result of the rejection of this lease, uncollected rents in the amount of approximately $0.3 million and a straight-line rent receivable of approximately $0.4 million were reversed against revenue, and unamortized leasing commissions in the amount of approximately $0.2 million were written off and fully expensed in Fiscal 2020 resulting in a net impact of approximately $0.9 million (with a consolidated impact to FREIT of approximately $0.5 million) to net income for the year ended October 31, 2020. Tenant improvements related to the Cobb Theatre with a net book value of approximately $7.3 million (with a consolidated impact to FREIT of approximately $4.4 million) as of October 31, 2020 were deemed to be impaired, written off and charged to operations in the consolidated statement of income for the fiscal year ended October 31, 2020. Until this space is re-leased, FREIT’s operating results will be adversely impacted from loss of base rent and additional rent of approximately $1.1 million (with a consolidated impact to FREIT of approximately $0.7 million) on an annualized basis. As a result of the negative impact of the COVID-19 pandemic at our commercial properties, we were granted debt payment relief from certain of our lenders on the retail properties in the form of deferral of principal and/or interest payments for a three-month period, resulting in total deferred payments of approximately $1,013,000 which will become due at the maturity of the loans. As of October 31, 2020, approximately $162,000 of this amount has been repaid. There will be no further deferrals of principal and/or interest payments on these loans and the balance due has been included in mortgages payable on the consolidated balance sheet as of October 31, 2020. (See Note 5 for additional details.) During Fiscal 2020, we have experienced a positive cash flow from operations, excluding corporate expenses such as Special Committee third party advisory, legal and other expenses paid of approximately $5.1 million and deferred compensation in the amount of $5 million paid to two retired trustees. This could change based on the duration of the pandemic, which is uncertain. We believe that our cash balance as of October 31, 2020 of approximately $36.9 million coupled with a $13 million available line of credit (available through October 31, 2023, see Note 5) will provide us with sufficient liquidity for at least the next twelve months from the filing of this Form 10-K. In an effort to further preserve cash flow, the Board of Trustees reduced all fees, salaries and retainers payable to our executive officers and members of the Board of Trustees by up to 30% from May 1, 2020 through the end of Fiscal 2020. Additionally, in an effort to keep costs lower while the Company has experienced a loss of revenues at the 96 Table of Contents commercial properties and to adjust to the difficulty in hiring contractors due to these imposed COVID-19 restrictions and mandates, the Company has deferred non-essential maintenance projects across all properties during Fiscal 2020. This has resulted in a cost savings of approximately $1.1 million (with a consolidated impact to FREIT of approximately $0.8 million) across the entire FREIT portfolio as compared to Fiscal 2019. The extent of the effects of COVID-19 on our business, results of operations, cash flows, value of our real estate assets and growth prospects is highly uncertain and will ultimately depend on future developments, none of which can be predicted with any certainty.

Investment in tenancy-in-common

Investment in tenancy-in-common ('TIC')	12 Months Ended
	Oct. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investment in tenancy-in-common	Note 17 – Investment in tenancy-in-common (“TIC”): On February 28, 2020, FREIT reorganized S&A from a partnership into a TIC. Prior to this reorganization, FREIT owned a 65% membership interest in S&A, which owned 100% of the Pierre Towers property located in Hackensack, New Jersey through its 100% interest in Pierre Towers, LLC. Accordingly, FREIT consolidated the financial statements of S&A and its subsidiary to include 100% of the subsidiary’s assets, liabilities, operations and cash flows with the interest not owned by FREIT reflected as “noncontrolling interests in subsidiary” and all significant intercompany accounts and transactions were eliminated in consolidation. Pursuant to the TIC agreement, FREIT ultimately acquired a 65% undivided interest in the Pierre Towers property which was formerly owned by S&A. Based on the guidance of ASC 810, “ Consolidation As of October 31, 2020, FREIT’s investment in TIC was approximately $20.1 million with a loss on investment of approximately $202,000, recognized in the accompanying consolidated statement of income for the fiscal year ended October 31, 2020. Hekemian currently manages the Pierre Towers property based on a management agreement between the owners of the TIC and Hekemian dated as of February 28, 2020, which expires on February 28, 2022, and is automatically renewed for successive periods of one year unless either party gives not less than sixty (60) days prior notice of non-renewal. The management agreement requires the payment of management fees equal to 5% of rents collected. Management fees, charged to operations, were approximately $241,000 for the period from February 28, 2020 through October 31, 2020. Hekemian management fees outstanding at October 31, 2020 was approximately $32,000. The Pierre Towers property also uses the resources of the Hekemian insurance department to secure various insurance coverages for its property. Hekemian is paid a commission for these services. Such commissions were charged to operations and amounted to approximately $26,000 for the period from February 28, 2020 through October 31, 2020. The following table summarizes the balance sheet of the Pierre Towers property as of October 31, 2020 accounted for by the equity method: October 31, 2020 (In Thousands of Dollars) Real estate, net $ 80,041 Cash and cash equivalents 754 Tenants' security accounts 523 Receivables and other assets 468 Total assets $ 81,786 Mortgages payable, net of unamortized debt issuance costs $ 49,956 Accounts payable and accrued expenses 314 Tenants' security deposits 535 Deferred revenue 56 Equity 30,925 Total liabilities & equity $ 81,786 FREIT's investment in TIC (65% interest) $ 20,101 97 Table of Contents The following table summarizes the statement of operations of the Pierre Towers property for the period from February 28, 2020 through October 31, 2020, accounted for by the equity method: For the period from February 28, 2020 through October 31, 2020 (In Thousands of Dollars) Revenues $ 4,981 Operating expenses 2,786 Net operating income $ 2,195 Depreciation 1,435 Interest expense including amortization of deferred financing costs 1,070 Net loss $ (310 ) FREIT's loss on investment in TIC (65% interest) $ (202 )

Selected quarterly financial da

Selected quarterly financial data (unaudited)	12 Months Ended
	Oct. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Selected quarterly financial data (unaudited)	Note 18 -  Selected quarterly financial data (unaudited): The following summary represents the results of operations for each quarter for the years ended October 31, 2020 and 2019 (in thousands, except per share amounts): 2020: Quarter Ended Year Ended January 31, April 30, July 31, October 31, October 31, Revenue $ 15,593 $ 13,688 $ 12,149 (b) $ 11,297 $ 52,727 Expenses 17,614 (13,448 )(a) 12,469 (b) 18,772 (c) 35,407 Net (loss) income (2,021 ) 27,136 (320 ) (7,475 ) 17,320 Net (loss) income attributable to noncontrolling interests in subsidiaries (241 ) 84 139 3,251 3,233 Net (loss) income attributable to common equity   $ (2,262 ) $ 27,220 $ (181 ) $ (4,224 ) $ 20,553 (Loss) Earnings per share - basic and diluted $ (0.32 ) $ 3.88 (a) $ (0.02 )(b) $ (0.60 )(c) $ 2.94 Dividends declared per share $ — $ — $ — $ — $ — 2019: Quarter Ended Year Ended January 31, April 30, July 31, October 31, October 31, Revenue $ 14,928 $ 14,786 $ 15,255 $ 15,308 $ 60,277 Expenses 14,493 13,956 (d) 14,990 15,045 58,484 Net income 435 830 265 263 1,793 Net income (loss) attributable to noncontrolling interests in subsidiaries 24 (44 ) (66 ) 80 (6 ) Net income attributable to common equity   $ 459 $ 786 $ 199 $ 343 $ 1,787 Earnings per share - basic and diluted $ 0.07 $ 0.11 (d) $ 0.03 $ 0.05 $ 0.26 Dividends declared per share $ 0.15 $ 0.125 $ 0.125 $ 0.20 $ 0.60 (a) Includes $ 27.7 million gain on deconsolidation of subsidiary related to the Pierre Towers property which was deconsolidated from FREIT's operating results due to the conversion to a tenancy-in-common form of ownership on February 28, 2020. ($ 3.96 per share) (b) Includes impact of the rejection of the lease for Cobb Theatre at the Rotunda retail property as of June 30, 2020 resulting in the reversal against revenue of uncollected rents in the amount of approximately $ 0.3 million and a straight-line rent receivable of approximately $ 0.4 million and the write-off of unamortized leasing commissions in the amount of approximately $ 0.2 million resulting in a net impact of approximately $ 0.9 million (with a consolidated impact to FREIT of approximately $ 0.5 million). ($ 0.07 per share) (c) Includes write-off of Cobb Theatre's tenant improvements of approximately $ 7.3 million (with a consolidated impact to FREIT of approximately $ 4.4 million) at the Rotunda retail property due to COVID-19. ($ 0.62 per share) (d) Includes $ 0.8 million gain on sale of the Patchogue, New York property sold on February 8, 2019. ($ 0.12 per share)

SCHEDULE III - REAL ESTATE AND

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	12 Months Ended
	Oct. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE XI - REAL ESTATE AND ACCUMULATED DEPRECIATION	FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY AND SUBSIDIARIES SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION OCTOBER 31, 2020 (In Thousands of Dollars) Column A Column B Column C Column D Column E Column F Column G Column H Column I Initial Cost Costs Capitalized Gross Amount at Which to Company Subsequent to Acquisition Carried at Close of Period Life on Buildings Buildings Which Encum- and Improve- Carrying and Accumulated Date of Date Depreciation Description brances Land Improvements Land ments Costs Land Improvements Total (1) Depreciation Construction Acquired is Computed Residential Properties: Steuben Arms, River Edge, NJ $ 9,789 $ 364 $ 1,773 $ - $ 1,506 $ 364 $ 3,279 $ 3,643 $ 2,937 1966 1975 7-40 years Berdan Court, Wayne, NJ 28,815 250 2,206 - 4,865 250 7,071 7,321 5,791 1964 1965 7-40 years Westwood Hills, Westwood, NJ 25,000 3,849 11,546 - 2,826 3,849 14,372 18,221 9,684 1965-70 1994 7-39 years Boulders - Rockaway, NJ 15,050 1,632 - 3,386 16,011 5,018 16,011 21,029 6,185 2005-2006 1963/1964 7-40 years Regency Club - Middletown, NY 15,255 2,833 17,792 - 774 2,833 18,566 21,399 3,139 2003 2014 7-40 years Icon - Baltimore, MD 65,186 5,871 - - 87,770 5,871 87,770 93,641 9,347 2016 2005 7-40 years Station Place - Red Bank, NJ 12,181 8,793 10,757 - 1 8,793 10,758 19,551 785 2015 2017 7-40 years Commercial Properties: Damascus Shopping Center, Damascus, MD 18,824 2,950 6,987 6,296 17,589 9,246 24,576 33,822 8,384 1960's 2003 5-39.5 years Franklin Crossing, Franklin Lakes, NJ - 29 - 3,382 7,426 3,411 7,426 10,837 4,387 1963/75/97 1966 5-39.5 years Glen Rock, NJ - 12 36 - 235 12 271 283 219 1940 1962 5-25 years Westridge Square S/C, Frederick, MD 21,775 9,135 19,159 (1) 4,791 9,134 23,950 33,084 20,556 1986 1992 5-31.5 years Westwood Plaza, Westwood, NJ 18,695 6,889 6,416 - 2,374 6,889 8,790 15,679 8,601 1981 1988 5-31.5 years Preakness S/C, Wayne, NJ 23,336 9,280 24,217 - 2,802 9,280 27,019 36,299 12,509 1955/89/00 2002 5-39.5 years The Rotunda, Baltimore, MD 53,334 10,392 14,634 232 45,267 10,624 59,901 70,525 14,613 1920/2016 2005 5-40 years Land Leased: Rockaway, NJ - 114 - - - 114 - 114 - 1963/1964 Vacant Land: ` Franklin Lakes, NJ - 224 - (156) - 68 - 68 - 1966/93 Wayne, NJ - 286 - - - 286 - 286 - 2002 Rockaway, NJ - 51 - - - 51 - 51 - 1963/1964 $ 307,240 $ 62,954 $ 115,523 $ 13,139 $ 194,237 $ - $ 76,093 $ 309,760 $ 385,853 $ 107,137 (1) Total cost for each property is the same for federal income tax purposes, with the exception of Regency Club, Station Place and the Rotunda properties (Icon and The Rotunda) whose cost for federal income tax purposes is approximately $13.3 million, $4.2 million and $162.2 million, respectively. 99 Table of Contents FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY AND SUBSIDIARIES SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (In Thousands of Dollars) Reconciliation of Real Estate and Accumulated Depreciation: 2020 2019 2018 Real estate: Balance, Beginning of year $ 448,866 $ 456,658 $ 433,288 Additions - Buildings and improvements 2,055 3,386 4,562 Disposal - Buildings and improvements (585 ) (240 ) (742 ) Tenant improvement write-off due to COVID-19 (8,910 ) — — Acquisition (Sale) of property — (10,938 ) 19,550 Deconsolidation of subsidiary (55,573 ) — — Balance, end of year $ 385,853 $ 448,866 $ 456,658 Accumulated depreciation: Balance, beginning of year $ 118,363 $ 111,967 $ 101,194 Additions - Charged to operating expenses 10,341 11,339 11,515 Tenant improvement write-off due to COVID-19 - Charged to operating expenses (1,637 ) — — Disposal - Buildings and improvements (583 ) (217 ) (742 ) Sale of property — (4,726 ) — Deconsolidation of subsidiary (19,347 ) — — Balance, end of year $ 107,137 $ 118,363 $ 111,967

Organization and significant _2

Organization and significant accounting policies (Policies)	12 Months Ended
	Oct. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization:	Organization: First Real Estate Investment Trust of New Jersey ("FREIT" or the “Company” or “Trust”) was organized on November 1, 1961 as a New Jersey Business Trust. FREIT is engaged in owning residential and commercial income producing properties located primarily in New Jersey, Maryland and New York. FREIT has elected to be taxed as a Real Estate Investment Trust under the provisions of Sections 856-860 of the Internal Revenue Code, as amended. Accordingly, FREIT does not pay federal income tax on income whenever income distributed to shareholders is equal to at least 90% of real estate investment trust taxable income. Further, FREIT pays no federal income tax on capital gains distributed to shareholders. FREIT is subject to federal income tax on undistributed taxable income and capital gains. FREIT may make an annual election under Section 858 of the Internal Revenue Code to apply part of the regular dividends paid in each respective subsequent year as a distribution for the immediately preceding year.
Recently issued accounting standards:	Recently issued accounting standards: In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2014-09, “ Revenue from Contracts with Customers Leases, Topic 842 In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)” “Leases (Topic 840)” “Targeted Improvements” (the “Practical Expedient Amendment”) Substantially all of FREIT’s revenues are within the scope of ASC 842. FREIT will continue to account for its leases as operating leases. Leases for FREIT’s apartment buildings and complexes are generally short-term in nature (one to two-years in duration), based on fixed payments and contain separate lease components within the contract for each revenue stream (i.e. base rent, garage rent, etc.). Given the nature of these leases, the adoption of ASU No. 2016-02 had no impact on the accounting for the Company’s leases within the residential segment. With respect to most of FREIT’s commercial properties, lease terms range from five years to twenty-five years with options, which if exercised would extend the terms of such leases. These lease agreements generally provide for reimbursement of real estate taxes, maintenance, insurance and certain other operating expenses of the properties (known as common area maintenance costs (“CAM”)). Some of FREIT’s leases in its commercial segment may contain lease and non-lease components. Generally, the primary lease component in most of FREIT’s commercial leases is base rent charged for the rental of space in an office complex/shopping center. Depending on the lease, the following non-lease components could be present: 1) fixed (or in substance fixed) payments related to real estate taxes and insurance; 2) variable payments that depend on an index or rate initially measured using the index or rate at the commencement date; and 3) fixed CAM reimbursements or CAM expense reimbursements based on the tenant’s proportionate share of the allocable operating expenses and CAM capital expenditures for the property. 78 Table of Contents FREIT accrues fixed lease income on a straight-line basis over the terms of the leases. FREIT accrues reimbursements from tenants for recoverable portions of real estate taxes, insurance, and CAM as variable lease consideration in the period the applicable expenditures are incurred recognizing differences between estimated recoveries and the final billed amounts in the subsequent year. Some of FREIT’s retail tenants are also required to pay overage rents based on sales over a stated base amount during the lease year. FREIT recognizes this variable lease consideration only when each tenant’s sales exceed the applicable sales threshold. Given that this standard has minimal impact on real estate operating lessors, the adoption of this new accounting guidance did not have a significant impact on FREIT’s consolidated financial statements and footnote disclosures. As a result, there was no cumulative effect adjustment to opening equity. Additionally, based on this new accounting guidance, the Company will no longer be able to capitalize certain leasing costs, such as legal expenses, as it relates to activities before a lease is entered into. (See Note 7 to FREIT’s consolidated financial statements for further details). In June 2016, the FASB issued ASU No. 2016-13 "Financial Instruments – Credit Losses (Topic 326)" “Codification Improvements to Topic 326, Financial Instruments—Credit Losses” “Leases (Topic 842)” In August 2017, the FASB issued ASU 2017-12, “Targeted Improvements to Accounting for Hedging Activities to ASC Topic 815, Derivatives and Hedging ("ASC 815")” The adoption of ASU 2017-12 had no impact on the accounting for FREIT’s interest rate swap contracts, which were previously deemed effective cash flow hedges, on the following entities: Damascus Centre, LLC (“Damascus Centre”), Wayne PSC, LLC (“Wayne PSC”), FREIT Regency, LLC (“Regency”) and Station Place on Monmouth, LLC (“Station Place”). Accordingly, these interest rate swap contracts will continue to be accounted for by marking these contracts to market, taking into account present interest rates compared to the contracted fixed rate over the life of the contract and recording the unrealized gain or loss on the swaps in comprehensive income. The adoption of this accounting guidance has an impact on the accounting for Grande Rotunda, LLC’s (“Grande Rotunda”) interest rate cap, which was previously deemed an ineffective cash flow hedge and for which previous to the adoption of this guidance, the change in the fair value was reported in the statement of income. Based on this new guidance, FREIT will record the change in the fair value of Grande Rotunda’s interest rate cap in other comprehensive income on a prospective basis. FREIT did not record an adjustment in Fiscal 2020 to the opening balance of retained earnings as the value of Grande Rotunda’s interest rate cap was $0 as of October 31, 2019. (See Note 6 to FREIT’s consolidated financial statements for additional details). In October 2018, the FASB issued ASU 2018-16 “Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes to ASC Topic 815, Derivatives and Hedging” In April 2020, the FASB staff issued a question and answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of the COVID-19 global pandemic. Under existing GAAP, the Company would have to determine, on a lease by lease basis, if a lease 79 Table of Contents concession was the result of a new arrangement reached with the tenant (treated within the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A allows the Company, if certain criteria have been met, to bypass the lease by lease analysis, and instead elect to either apply the lease modification accounting framework or not, with such election applied consistently to leases with similar characteristics and similar circumstances. This election is only available when total cash flows resulting from lease concessions are substantially similar to or less than the cash flows in the original lease. FREIT has made this election in the second quarter of Fiscal 2020 and accounts for rent deferrals by increasing its rent receivables as receivables accrue and continuing to recognize income during the deferral period. The adoption of this guidance did not have a significant impact on the consolidated financial statements or footnote disclosures.
Principles of consolidation:	Principles of consolidation: The consolidated financial statements include the accounts of FREIT and the following subsidiaries in which FREIT has a controlling financial interest, including two LLCs in which FREIT is the managing member with a 40% ownership interest: Subsidiary Owning Entity % Ownership Year Acquired/ Organized Westwood Hills, LLC FREIT 40% 1994 Wayne PSC, LLC FREIT 40% 2002 Damascus Centre, LLC FREIT 70% 2003 Grande Rotunda, LLC FREIT 60% 2005 WestFREIT, Corp FREIT 100% 2007 FREIT Regency, LLC FREIT 100% 2014 Station Place on Monmouth, LLC FREIT 100% 2017 Berdan Court, LLC FREIT 100% 2019 The consolidated financial statements include 100% of each subsidiary’s assets, liabilities, operations and cash flows, with the interests not owned by FREIT reflected as "noncontrolling interests in subsidiaries”. All significant inter-company accounts and transactions have been eliminated in consolidation.
Investment in tenancy-in-common:	Investment in tenancy-in-common: On February 28, 2020, FREIT reorganized its subsidiary S and A Commercial Associates Limited Partnership (“S&A”) from a partnership into a tenancy-in-common form of ownership (“TIC”). Prior to this reorganization, FREIT owned a 65% membership interest in S&A, which owned 100% of the Pierre Towers property located in Hackensack, New Jersey through its 100% interest in Pierre Towers, LLC. Accordingly, FREIT consolidated the financial statements of S&A and its subsidiary to include 100% of the subsidiary’s assets, liabilities, operations and cash flows with the interest not owned by FREIT reflected as “noncontrolling interests in subsidiary” and all significant intercompany accounts and transactions were eliminated in consolidation. Pursuant to the TIC agreement, FREIT ultimately acquired a 65% undivided interest in the Pierre Towers property which was formerly owned by S&A. Based on the guidance of ASC 810, “Consolidation”
Reclassification:	Reclassification: Certain prior year statement of income and cash flow line items have been reclassified to conform to the current year presentation.
Use of estimates:	Use of estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
Cash and cash equivalents:	Cash and cash equivalents: Financial instruments that potentially subject FREIT to concentrations of credit risk consist primarily of cash and cash equivalents. FREIT considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. FREIT maintains its cash and cash equivalents in bank and other accounts, the balances of which, at times, may exceed federally insured limits.
Real estate development costs:	Real estate development costs: It is FREIT’s policy to capitalize pre-development costs, which generally include legal and other professional fees and other directly related third-party costs. Real estate taxes and interest costs incurred during the development and construction phases are also capitalized. FREIT ceases capitalization of these costs when the project or portion thereof becomes operational, or when construction has been postponed. In the event of a postponement, capitalization of these costs will recommence once construction on the project resumes.
Depreciation:	Depreciation: Real estate and equipment are depreciated on the straight-line method by annual charges to operations calculated to absorb costs of assets over their estimated useful lives.
Impairment of long-lived assets:	Impairment of long-lived assets: Impairment losses on long-lived assets, such as real estate and equipment, are recognized when events or changes in circumstances indicate that the undiscounted cash flows estimated to be generated by such assets are less than their carrying value and, accordingly, all or a portion of such carrying value may not be recoverable. Impairment losses are then measured by comparing the fair value of assets to their carrying amounts. In Fiscal 2020, Cobb Theatre, an anchor tenant movie theatre at the Rotunda retail property filed for bankruptcy and rejected its lease at the Rotunda property as of June 30, 2020. In the fourth quarter of Fiscal 2020, management determined that it would be unable to re-let the space on similar terms and as such tenant improvements in the amount of approximately $7.3 million (with a consolidated impact to FREIT of approximately $4.4 million) related to Cobb Theatre were deemed impaired and written off. (See Note 16) There were no other impairments of long-lived assets for the fiscal year ended October 31, 2020. For the fiscal years ended October 31, 2019 and 2018, there were no impairments of long-lived assets.
Deferred charges:	Deferred charges: Deferred charges consist of leasing commissions which are amortized on the straight-line method over the terms of the applicable leases.
Debt issuance costs:	Debt issuance costs: Debt issuance costs are amortized on the straight-line method by annual charges to income over the terms of the mortgages. Amortization of such costs is included in interest expense and approximated $1,089,000, $1,139,000 and $1,050,000 in Fiscal 2020, 2019 and 2018, respectively. Unamortized debt issuance costs are a direct deduction from mortgages payable on the consolidated balance sheets.
Revenue recognition:	Revenue recognition: Income from leases is recognized on a straight-line basis regardless of when payment is due. Lease agreements between FREIT and commercial tenants generally provide for additional rentals and reimbursements based on such factors as increases in real estate taxes, Consumer Price Indices, common area maintenance charges and percentage of tenants' sales in excess of specified volumes. These additional rentals are generally included in income when reported to FREIT when earned, or ratably over the appropriate period.
Interest rate cap and swap contracts:	Interest rate cap and swap contracts: FREIT utilizes derivative financial instruments to reduce interest rate risk. FREIT does not hold or issue derivative financial instruments for trading purposes. FREIT recognizes all derivatives as either assets or liabilities in the consolidated balance sheets and measures those instruments at fair value. Changes in fair value of those instruments, which qualify as cash flow hedges, are reported in other comprehensive income. (see Note 6 to FREIT’s consolidated financial statements).
Advertising:	Advertising: FREIT expenses the cost of advertising and promotions as incurred. Advertising costs charged to operations amounted to approximately $297,000, $281,000 and $296,000 in Fiscal 2020, 2019 and 2018, respectively.
Stock-based compensation:	Stock-based compensation: FREIT has a stock-based compensation plan that was approved by FREIT’s Board of Trustees (the “Board”), and ratified by FREIT’s shareholders. Stock based awards are accounted for based on their grant-date fair value (see Note 10 to FREIT’s consolidated financial statements).

Organization and significant _3

Organization and significant accounting policies (Tables)	12 Months Ended
	Oct. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of subsidiaries in which FREIT has a controlling financial interest	The consolidated financial statements include the accounts of FREIT and the following subsidiaries in which FREIT has a controlling financial interest, including two LLCs in which FREIT is the managing member with a 40% ownership interest: Subsidiary Owning Entity % Ownership Year Acquired/ Organized Westwood Hills, LLC FREIT 40% 1994 Wayne PSC, LLC FREIT 40% 2002 Damascus Centre, LLC FREIT 70% 2003 Grande Rotunda, LLC FREIT 60% 2005 WestFREIT, Corp FREIT 100% 2007 FREIT Regency, LLC FREIT 100% 2014 Station Place on Monmouth, LLC FREIT 100% 2017 Berdan Court, LLC FREIT 100% 2019

Real estate (Tables)

Real estate (Tables)	12 Months Ended
	Oct. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of real estate and equipment	Real estate consists of the following: Range of Estimated October 31, Useful Lives 2020 2019 (In Thousands of Dollars) Land $ 75,688 $ 84,097 Unimproved land 405 405 Apartment buildings 7-40 years 155,923 202,486 Commercial buildings/shopping centers 5-40 years 151,293 159,186 Equipment/Furniture 5-15 years 1,978 2,297 Total real estate, gross 385,287 448,471 Less: accumulated depreciation 107,137 118,363 Total real estate, net $ 278,150 $ 330,108

Mortgages payable and credit _2

Mortgages payable and credit line (Tables)	12 Months Ended
	Oct. 31, 2020
Debt Disclosure [Abstract]
Schedule of debt	October 31, 2020 October 31, 2019 Principal (Including Deferred Interest) Unamortized Debt Issuance Costs Principal Unamortized Debt Issuance Costs (In Thousands of Dollars) (In Thousands of Dollars) Rockaway, NJ (A) $ 15,050 $ 23 $ 15,615 $ 51 Westwood, NJ (B) 18,695 71 18,973 103 Wayne, NJ (C) 28,815 427 28,815 475 River Edge, NJ (D) 9,789 53 10,021 70 Red Bank, NJ (E) 12,181 108 12,350 123 Westwood, NJ (F) — — 19,617 34 Wayne, NJ (G) 23,336 205 23,737 240 Hackensack, NJ (H) — — 48,000 509 Damascus, MD (I) 18,824 166 19,354 231 Middletown, NY (J) 15,255 137 15,588 170 Total fixed rate 141,945 1,190 212,070 2,006 Westwood, NJ (F) 25,000 460 — — Frederick, MD (K) 21,775 — 22,200 28 Baltimore, MD (L) 118,520 160 118,520 800 Line of credit - Provident Bank (M) — — — 52 Total variable rate 165,295 620 140,720 880 Total $ 307,240 $ 1,810 $ 352,790 $ 2,886 82 Table of Contents (A) Payable in monthly installments of $ (B) On January 14, 2013, FREIT refinanced its Westwood Plaza mortgage loan in the amount of $ As a result of the negative impact of the COVID-19 pandemic at this property, FREIT was granted debt payment relief from the lender in the form of deferral of principal and interest payments for a three-month period which ended June 30, 2020, resulting in total deferred payments of approximately $390,000, of which approximately $222,000 related to deferred interest. These deferred payments are included in the mortgages payable on the consolidated balance sheet and are due at the maturity of this loan. (C) On August 26, 2019, Berdan Court, LLC (“Berdan Court”), (owned The loan is interest-only for the first five years of the term with monthly installments of approximately $85,004 each month through September 1, 2024. Thereafter, monthly installments of principal plus interest totaling approximately $130,036 will be required each month until September 1, 2029 at which time the unpaid balance is due. The mortgage is secured by an apartment building in Wayne, New Jersey having a net book value of approximately $1,530,000 as of October 31, 2020. (D) On November 19, 2013, FREIT refinanced mortgage loans scheduled to mature on December 1, 2013 with a new mortgage (E) On December 7, 2017, Station Place on Monmouth, LLC (owned On January 21, 2019, Station Place on Monmouth, LLC entered into a modification agreement with Provident Bank. The material terms of the modification were: (i) FREIT guaranteed $2,350,000 of the outstanding principal balance of the loan; and (ii) the loan’s Debt Service Coverage Ratio (“DSCR”) covenants were reduced to a single test tested semi-annually which required a DSCR of 1.2 / 1.0 based on actual debt service. If the DSCR should fall below 1.2 / 1.0, Provident Bank, at its discretion, may require a current appraisal of the Station Place property. If the loan balance exceeds 85% loan-to-value (“L-T-V”) based on the appraised value, Station Place may be required to resize the loan to bring the L-T-V into compliance by paying down the outstanding principal balance of the loan, posting a letter of credit, or providing additional collateral to Provident Bank. (F) On September 30, 2020, Westwood Hills, LLC (“Westwood Hills”), a consolidated subsidiary, refinanced its $ 83 Table of Contents (G) On September 29, 2016, Wayne PSC, LLC refinanced its $ As a result of the negative impact of the COVID-19 pandemic at this property, we were granted debt payment relief from the lender in the form of deferral of principal and interest payments for a three-month period which ended November 1, 2020, resulting in total deferred payments of approximately $319,000, of which approximately $138,000 related to deferred interest. These deferred payments are included in the mortgages payable on the consolidated balance sheet and are due at the maturity of this loan. (H) On January 8, 2018, Pierre Towers, (which was previously owned by S And A Commercial Associates Limited Partnership January 2028 On February 28, 2020, FREIT reorganized S&A from a partnership into a TIC. Prior to this reorganization, FREIT owned a 65% membership interest in S&A, which owned 100% of the Pierre Towers property located in Hackensack, New Jersey through its 100% interest in Pierre Towers, LLC. Accordingly, FREIT consolidated the financial statements of S&A and its subsidiary to include 100% of the subsidiary’s assets, liabilities, operations and cash flows with the interest not owned by FREIT reflected as “noncontrolling interests in subsidiary” and all significant intercompany accounts and transactions were eliminated in consolidation. Pursuant to the TIC agreement, FREIT ultimately acquired a 65% undivided interest in the Pierre Towers property, a 266-unit residential apartment complex in Hackensack, New Jersey (which was formerly owned by S&A). Based on the guidance of ASC 810, “Consolidation” (I) On December 26, 2012, Damascus Centre, LLC refinanced its construction loan with long-term financing provided by People’s The loan has a maturity date of January 3, 2023 and bears a floating interest rate equal to 210 points over the one-month BBA LIBOR. In order to minimize interest rate volatility during the term of this loan, Damascus Centre, LLC entered into an interest rate swap agreement that, in effect, converted the floating interest rate to a fixed interest rate on each tranche of this loan, resulting in a fixed rate of 3.81% over the term of the first tranche of this loan and a fixed rate of 3.53% over the term of the second tranche of this loan. (See Note 6 to FREIT’s consolidated financial statements for additional information relating to the interest rate swaps.) The shopping center securing the loan has a net book value of approximately $25,438,000 as of October 31, 2020. (J) On December 29, 2014, FREIT Regency, LLC closed on a $ 84 Table of Contents interest rate volatility during the term of the loan, FREIT Regency, LLC entered into an interest rate swap agreement that, in effect, converted the floating interest rate to a fixed interest rate of 3.75% over the term of the loan. (See Note 6 to FREIT’s consolidated financial statements for additional information relating to the interest rate swap.) The mortgage is secured by an apartment complex in Middletown, New York having a net book value of $18,260,000 as of October 31, 2020. (K) On April 28, 2017, WestFREIT, Corp. (owned On April 3, 2019, WestFREIT, Corp. exercised its option to extend its loan held by M&T Bank, with a then outstanding balance of approximately $22.5 million, for twelve months. Effective beginning on June 1, 2019, the extension of this loan required monthly principal payments of $47,250 plus interest based on a floating interest rate equal to 240 basis points over the one-month LIBOR and had a maturity date of May 1, 2020 which was extended to November 1, 2020. This loan has been further extended with a new maturity date of January 31, 2021 under the same terms and conditions of the existing agreement while the lender is in discussions with the Company regarding a further modification and extension of this loan. Management expects the loan to be extended, however, until such time as a definitive agreement providing for a modification and extension of the loan is entered into, there can be no assurance the loan will be modified and extended. The mortgage is secured by a retail building in Frederick, Maryland having a net book value of approximately $12,528,000 as of October 31, 2020. The interest rate on the loan was approximately 2.55% as of October 31, 2020. As a result of the negative impact of the COVID-19 pandemic at this property, FREIT was granted debt payment relief from the lender in the form of deferral of principal and interest payments for a three-month period which ended June 30, 2020, resulting in total deferred payments of approximately $303,800, of which approximately $162,100 related to deferred interest was repaid as of October 31, 2020. The remaining deferred balance due of approximately $141,700 is included in the mortgages payable on the consolidated balance sheet and is due at the maturity of this loan. (L) The original Rotunda acquisition loan for $ On February 7, 2018, Grande Rotunda, LLC (“Grande Rotunda”) refinanced its $115.3 million construction loan held by Wells Fargo with a new loan held by Aareal Capital Corporation in the amount of approximately $118.5 million with additional funding available through February 6, 2021 for retail tenant improvements and leasing costs in the amount of $3,380,000. This refinancing paid off the loan previously held by Wells Fargo, funded loan closing costs and paid the amount due to Hekemian Development Resources for a development fee of $900,000 plus accrued interest of approximately $45,000 (See Note 8 to FREIT’s consolidated financial statements for further details on this fee). This loan bears a floating interest rate at 285 basis points over the one-month LIBOR rate and has a maturity date of February 6, 2021 with two one-year renewal options to extend the maturity of this loan, subject to certain requirements as provided for in the loan agreement. As part of this transaction, Grande Rotunda had purchased an interest rate cap on LIBOR for the full amount that can be drawn on this loan of $121.9 million, capping the one-month LIBOR rate at 3% for the first two years of this loan which matured on March 5, 2020. On February 28, 2020, Grande Rotunda purchased an interest rate cap on LIBOR, with an effective date of March 5, 2020, for the full amount that can be drawn on this loan of $121.9 million, capping the one-month LIBOR rate at 3% for one year. As of October 31, 2020, approximately $118.5 million of this loan facility was drawn down and the interest rate was approximately 2.99%. The loan is secured by the Rotunda property, which has a net book value of approximately $140,206,000 as of October 31, 2020. On November 5, 2020, Grande Rotunda elected to exercise the first extension option on this loan to extend the initial maturity date from February 6, 2021 until February 6, 2022. In order to extend the maturity due date Grande Rotunda must satisfy the following conditions: (a) pay to lender an extension fee of 0.2% of the extended loan balance; (b) certify that no default or events of default exist; (c) extend the interest rate cap to expire on February 6, 2022; and (d) allow lender to obtain an updated appraisal of the property. The principal balance of the amount of the loan to be extended must not exceed a loan-to-value of 62.5%. To the extent the loan-to-value exceeds the 62.5% limit, the loan must be brought in to balance via a loan reduction or by other means satisfactory to the Lender. Management expects the loan to be extended, however, until such time as a definitive agreement providing for a modification and extension of the loan is entered into, there can be no assurance the loan will be modified and extended. 85 Table of Contents (M) Credit line: FREIT’s revolving line of credit provided by the Provident Bank was renewed for a three-year term ending on
Schedule of estimated fair value and carrying value of long-term debt	The following table shows the estimated fair value and carrying value of FREIT’s long-term debt, net at October 31, 2020 and 2019: October 31, October 31, ($ in Millions) 2020 2019 Fair Value $311.4 $352.9 Carrying Value, Net $305.4 $349.9
Schedule of principal amounts of long-term debt	Principal amounts (in thousands of dollars) due under the above obligations in each of the five years subsequent to October 31, 2020 are as follows: Year Ending October 31, Amount 2021 $ 143,388 (a)(b) 2022 $ 17,380 2023 $ 61,713 2024 $ 10,492 2025 $ 15,596 (a) Includes loan on Rotunda property located in Baltimore, Maryland in the amount of approximately $118.5 million which matures on February 6, 2021 and has two one-year renewal options, subject to certain requirements as provided for in the loan agreement. On November 5, 2020, Grande Rotunda elected to exercise the first extension option on this loan to extend the initial maturity date from February 6, 2021 until February 6, 2022. In order to extend the maturity due date Grande Rotunda must satisfy the following conditions: (a) pay to lender an extension fee of 0.2% of the extended loan balance; (b) certify that no default or events of default exist; (c) extend the interest rate cap to expire on February 6, 2022; and (d) allow lender to obtain an updated appraisal of the property. The principal balance of the amount of the loan to be extended must not exceed a loan-to-value of 62.5%. To the extent the loan-to-value exceeds the 62.5% limit, the loan must be brought in to balance via a loan reduction or by other means satisfactory to the Lender. (See Note 5(L)) (b) Includes loan on Westridge Square Shopping Center located in Frederick, Maryland in the amount of approximately $21.8 million which had a maturity date of May 1, 2020 and was extended to November 1, 2020. This loan has been further extended with a new maturity date of January 31, 2021 under the same terms and conditions of the existing agreement while the lender is in discussions with the Company regarding a further modification and extension of this loan.

Commitments and contingencies (

Commitments and contingencies (Tables)	12 Months Ended
	Oct. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of minimum rental income to be received from non-cancelable operating leases	Minimum fixed lease consideration (in thousands of dollars) under non-cancellable tenant operating leases for each of the next five years and thereafter, excluding rents from tenants for which collectability is deemed to be constrained and variable lease consideration, subsequent to October 31, 2020, is as follows: Year Ending October 31, Amount 2021 $ 17,253 2022 14,470 2023 11,809 2024 9,640 2025 8,191 Thereafter 25,601 Total $ 86,964

Equity incentive plan (Tables)

Equity incentive plan (Tables)	12 Months Ended
	Oct. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	The following table summarizes stock option activity for Fiscal 2020, Fiscal 2019 and Fiscal 2018: Year Ended October 31, Year Ended October 31, Year Ended October 31, 2020 2019 2018 No. of Options Exercise No. of Options Exercise No. of Options Exercise Outstanding Price Outstanding Price Outstanding Price Options outstanding at beginning of year 310,740 $ 18.35 305,780 $ 18.40 267,780 $ 18.81 Options granted during year — — 5,000 15.00 38,000 15.50 Options forfeited/cancelled during year — — (40 ) 18.45 — — Options outstanding at end of year 310,740 $ 18.35 310,740 $ 18.35 305,780 $ 18.40 Options vested and expected to vest 308,310 308,310 299,140 Options exercisable at end of year 276,340 260,140 200,260

Segment information (Tables)

Segment information (Tables)	12 Months Ended
	Oct. 31, 2020
Segment Reporting [Abstract]
Schedule of segment and related information	Real estate rental revenue, operating expenses, NOI and recurring capital improvements for the reportable segments are summarized below and reconciled to consolidated net income attributable to common equity for each of the years 93 Table of Contents in the three-year period ended October 31, 2020. Asset information is not reported since FREIT does not use this measure to assess performance. Years Ended October 31, 2020 2019 2018 (In Thousands of Dollars) Real estate rental revenue: Commercial $ 24,486 $ 26,692 $ 25,464 Residential 28,638 33,175 31,928 Total real estate rental revenue 53,124 59,867 57,392 Real estate operating expenses: Commercial 11,334 11,694 11,861 Residential 11,588 14,368 13,022 Total real estate operating expenses 22,922 26,062 24,883 Net operating income: Commercial 13,152 14,998 13,603 Residential 17,050 18,807 18,906 Total net operating income $ 30,202 $ 33,805 $ 32,509 Recurring capital improvements - residential $ (347 ) $ (685 ) $ (738 ) Reconciliation to consolidated net income attributable to common equity:   Segment NOI $ 30,202 $ 33,805 $ 32,509 Deferred rents - straight lining (397 ) 410 605 Investment income 204 360 267 Unrealized (loss) gain on interest rate cap contract — (160 ) 72 Special Committee third party advisory, legal and other expenses (4,606 ) (1,416 ) — Gain on sale of property — 836 — Gain on deconsolidation of subsidiary 27,680 — — Loss on investment in tenancy-in-common (202 ) — — General and administrative expenses (3,821 ) (2,633 ) (2,305 ) Depreciation (10,341 ) (11,339 ) (11,515 ) Tenant improvement write-off due to COVID-19 (7,277 ) — — Financing costs (14,122 ) (18,070 ) (18,667 ) Net income 17,320 1,793 966 Net loss (income) attributable to noncontrolling interests in subsidiaries   3,233 (6 ) 517 Net income attributable to common equity $ 20,553 $ 1,787 $ 1,483

Investment in tenancy-in-comm_2

Investment in tenancy-in-common ('TIC') (Tables)	12 Months Ended
	Oct. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Balance Sheet of Pierre Property	The following table summarizes the balance sheet of the Pierre Towers property as of October 31, 2020 accounted for by the equity method: October 31, 2020 (In Thousands of Dollars) Real estate, net $ 80,041 Cash and cash equivalents 754 Tenants' security accounts 523 Receivables and other assets 468 Total assets $ 81,786 Mortgages payable, net of unamortized debt issuance costs $ 49,956 Accounts payable and accrued expenses 314 Tenants' security deposits 535 Deferred revenue 56 Equity 30,925 Total liabilities & equity $ 81,786 FREIT's investment in TIC (65% interest) $ 20,101
Schedule of Income Statement of Pierre Property	The following table summarizes the statement of operations of the Pierre Towers property for the period from February 28, 2020 through October 31, 2020, accounted for by the equity method: For the period from February 28, 2020 through October 31, 2020 (In Thousands of Dollars) Revenues $ 4,981 Operating expenses 2,786 Net operating income $ 2,195 Depreciation 1,435 Interest expense including amortization of deferred financing costs 1,070 Net loss $ (310 ) FREIT's loss on investment in TIC (65% interest) $ (202 )

Selected quarterly financial _2

Selected quarterly financial data (unaudited) (Tables)	12 Months Ended
	Oct. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly results of operation	The following summary represents the results of operations for each quarter for the years ended October 31, 2020 and 2019 (in thousands, except per share amounts): 2020: Quarter Ended Year Ended January 31, April 30, July 31, October 31, October 31, Revenue $ 15,593 $ 13,688 $ 12,149 (b) $ 11,297 $ 52,727 Expenses 17,614 (13,448 )(a) 12,469 (b) 18,772 (c) 35,407 Net (loss) income (2,021 ) 27,136 (320 ) (7,475 ) 17,320 Net (loss) income attributable to noncontrolling interests in subsidiaries (241 ) 84 139 3,251 3,233 Net (loss) income attributable to common equity   $ (2,262 ) $ 27,220 $ (181 ) $ (4,224 ) $ 20,553 (Loss) Earnings per share - basic and diluted $ (0.32 ) $ 3.88 (a) $ (0.02 )(b) $ (0.60 )(c) $ 2.94 Dividends declared per share $ — $ — $ — $ — $ — 2019: Quarter Ended Year Ended January 31, April 30, July 31, October 31, October 31, Revenue $ 14,928 $ 14,786 $ 15,255 $ 15,308 $ 60,277 Expenses 14,493 13,956 (d) 14,990 15,045 58,484 Net income 435 830 265 263 1,793 Net income (loss) attributable to noncontrolling interests in subsidiaries 24 (44 ) (66 ) 80 (6 ) Net income attributable to common equity   $ 459 $ 786 $ 199 $ 343 $ 1,787 Earnings per share - basic and diluted $ 0.07 $ 0.11 (d) $ 0.03 $ 0.05 $ 0.26 Dividends declared per share $ 0.15 $ 0.125 $ 0.125 $ 0.20 $ 0.60 (a) Includes $ 27.7 million gain on deconsolidation of subsidiary related to the Pierre Towers property which was deconsolidated from FREIT's operating results due to the conversion to a tenancy-in-common form of ownership on February 28, 2020. ($ 3.96 per share) (b) Includes impact of the rejection of the lease for Cobb Theatre at the Rotunda retail property as of June 30, 2020 resulting in the reversal against revenue of uncollected rents in the amount of approximately $ 0.3 million and a straight-line rent receivable of approximately $ 0.4 million and the write-off of unamortized leasing commissions in the amount of approximately $ 0.2 million resulting in a net impact of approximately $ 0.9 million (with a consolidated impact to FREIT of approximately $ 0.5 million). ($ 0.07 per share) (c) Includes write-off of Cobb Theatre's tenant improvements of approximately $ 7.3 million (with a consolidated impact to FREIT of approximately $ 4.4 million) at the Rotunda retail property due to COVID-19. ($ 0.62 per share) (d) Includes $ 0.8 million gain on sale of the Patchogue, New York property sold on February 8, 2019. ($ 0.12 per share)

Organization and significant _4

Organization and significant accounting policies (Narrative) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Feb. 28, 2020
Advertising costs	$ 297,000	$ 281,000	$ 296,000
Amortization of mortgage costs and leasing commissions	1,089,000	1,139,000	1,050,000
Gain on deconsolidation of subsidiary	27,680,000
Consolidated impact to net income (loss)	$ 4,400,000
S And A Commercial Associates Limited Partnership [Member]
Percentage of ownership interest				65.00%
Pierre Towers, LLC [Member]
Percentage of ownership interest				100.00%
TIC Agreement [Member]
Percentage of ownership interest				65.00%
Interest Rate Cap [Member]
Retained Earnings		$ 0

Organization and significant _5

Organization and significant accounting policies (Schedule of Subsidiaries) (Details)	12 Months Ended
	Oct. 31, 2020
Westwood Hills, LLC [Member]
% Ownership	40.00%
Year Acquired/Organized	1994
Wayne PSC, LLC [Member]
% Ownership	40.00%
Year Acquired/Organized	2002
Damascus Centre, LLC [Member]
% Ownership	70.00%
Year Acquired/Organized	2003
Grande Rotunda, LLC [Member]
% Ownership	60.00%
Year Acquired/Organized	2005
WestFREIT Corp [Member]
% Ownership	100.00%
Year Acquired/Organized	2007
FREIT Regency, LLC [Member]
% Ownership	100.00%
Year Acquired/Organized	2014
Station Place on Monmouth, LLC [Member]
% Ownership	100.00%
Year Acquired/Organized	2017
Berdan Court, LLC [Member]
% Ownership	100.00%
Year Acquired/Organized	2019

Property dispositions (Details)

Property dispositions (Details) - USD ($)	Feb. 08, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Real Estate Properties [Line Items]
Agreed sales price of property held for sale			$ 7,060,000
Gain on sale of property held for sale			$ 836,000
Special dividend paid		$ 676,000
Pathmark Super Center, Patchogue, NY [Member]
Real Estate Properties [Line Items]
Rental properties	$ 6,200,000
Agreed sales price of property held for sale	7,500,000
Gain on sale of property held for sale	800,000
Net proceeds from sale of property	2,000,000
Mortgage payoff	$ 5,200,000
Dividend per share	$ 0.10
Sale of property operating loss	$ 800,000
Price per share operating loss eliminated from sale of property	$ 0.12

Property acquisition (Details)

Property acquisition (Details)	Dec. 07, 2017USD ($)
Real Estate [Line Items]
Transaction costs	$ 19,600,000
Building [Member]
Real Estate [Line Items]
Transaction costs	10,800,000
Land [Member]
Real Estate [Line Items]
Transaction costs	8,800,000
Provident Bank [Member]
Real Estate [Line Items]
Remaining balance (inclusive of the transaction costs)	12,350,000
Station Place on Monmouth, LLC [Member]
Real Estate [Line Items]
Acquisition costs	19,550,000
Transaction costs	550,000
Hammel Gardens Property [Member]
Real Estate [Line Items]
Net proceed from sales	$ 7,000,000

Real estate (Details)

Real estate (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Property, Plant and Equipment [Line Items]
Land	$ 75,688	$ 84,097
Unimproved land	405	405
Equipment/Furniture	1,978	2,297
Total real estate, gross	385,287	448,471
Less accumulated depreciation	107,137	118,363
Total real estate, net	$ 278,150	330,108
Minimum [Member] | Equipment/Furniture [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Maximum [Member] | Equipment/Furniture [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	15 years
Apartment Buildings [Member]
Property, Plant and Equipment [Line Items]
Total real estate, gross	$ 155,923	202,486
Apartment Buildings [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	7 years
Apartment Buildings [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	40 years
Commercial Buildings/Shopping Centers [Member]
Property, Plant and Equipment [Line Items]
Total real estate, gross	$ 151,293	$ 159,186
Commercial Buildings/Shopping Centers [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Commercial Buildings/Shopping Centers [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	40 years

Mortgages payable and credit _3

Mortgages payable and credit line (Narrative) (Details) - USD ($)

Aug. 26, 2019

Apr. 03, 2019

Feb. 07, 2018

Dec. 07, 2017

Jan. 14, 2013

Sep. 30, 2020

Feb. 28, 2018

Apr. 28, 2017

Sep. 29, 2016

Feb. 01, 2010

Nov. 01, 2020

Jun. 30, 2020

Oct. 31, 2020

Oct. 31, 2019

Jan. 21, 2019

Jan. 08, 2018

Debt Instrument [Line Items]

Amount drawn on loan

$ 307,240,000

$ 352,790,000

Legal fees

$ 957,000

Line of Credit [Member]

Debt Instrument [Line Items]

Maturity date of loan

Oct. 31, 2023

Line of Credit, available

$ 13,000,000

Grande Rotunda LLC [Member]

Debt Instrument [Line Items]

Fee amount

$ 900,000

Station Place on Monmouth, LLC [Member]

Debt Instrument [Line Items]

Basis points, interest rate

1.80%

Fixed interest rate current loan

4.35%

Loan amount

$ 12,350,000

Maturity date of loan

Dec. 15, 2027

Term of the loan

2 years

Percentage of acquisition

100.00%

Portion of outstanding principal balance guaranteed by FREIT

$ 2,350,000

WestFREIT Corp [Member]

Debt Instrument [Line Items]

Refinanced loan amount

$ 22,000,000

Basis points, interest rate

2.75%

Loan amount

$ 23,500,000

Maturity date of loan

Apr. 28, 2019

Net proceeds from refinancing of debt

$ 1,100,000

Percentage of acquisition

100.00%

Description of loan amendment terms

This refinancing resulted in: (i) a reduction in the annual interest rate from a fixed rate of 5.55% to a variable rate

Wells Fargo Bank [Member]

Debt Instrument [Line Items]

Basis points, interest rate

2.25%

Debt Instrument, collateral amount

$ 19,500,000

Loan amount

$ 22,500,000

Accrued interest on development fee paid

$ 45,000

Amount repaid

$ 115,300,000

Mortgages [Member]

Debt Instrument [Line Items]

Debt Instrument, Periodic Payment

$ 390,000

Fixed rate mortgage loans

141,945,000

212,070,000

Variable rate mortgage loan

$ 165,295,000

140,720,000

Deferred Interest

$ 222,000

Mortgages [Member] | Subsequent Event [Member]

Debt Instrument [Line Items]

Debt Instrument, Periodic Payment

$ 319,000

Deferred Interest

$ 138,000

Mortgages [Member] | Rockaway, NJ Mortgage [Member]

Debt Instrument [Line Items]

Fixed interest rate current loan

5.37%

Debt Instrument, Periodic Payment

$ 115,850

Debt Instrument, collateral amount

14,895,000

Fixed rate mortgage loans

$ 15,050,000

15,615,000

Mortgages [Member] | Westwood, NJ#1 [Member]

Debt Instrument [Line Items]

Refinanced loan amount

$ 8,000,000

Mortgages [Member] | Westwood, NJ #2 [Member]

Debt Instrument [Line Items]

Fixed interest rate current loan

4.75%

Debt Instrument, Periodic Payment

$ 129,702

Debt Instrument, collateral amount

7,078,000

Loan amount

22,750,000

Fixed rate mortgage loans

18,695,000

18,973,000

Mortgages [Member] | Wayne, NJ Mortgage [Member] | Berdan Court, LLC [Member]

Debt Instrument [Line Items]

Refinanced loan amount

$ 17,000,000

Fixed interest rate on old loan

6.09%

Fixed interest rate current loan

3.54%

Debt Instrument, Periodic Payment

$ 85,004

Debt Instrument, collateral amount

1,530,000

Loan amount

$ 28,815,000

Maturity date of loan

Sep. 1, 2029

Term of the loan

5 years

Net proceeds from refinancing of debt

$ 11,600,000

Future periodic payment including principal

$ 130,036

Percentage of acquisition

100.00%

Fixed rate mortgage loans

$ 28,815,000

28,815,000

Mortgages [Member] | Hackensack, NJ [Member] | Pierre Towers, LLC [Member]

Debt Instrument [Line Items]

Fixed interest rate on old loan

5.38%

Debt Instrument, Periodic Payment

$ 155,200

Loan amount

$ 48,000,000

Maturity date of loan

Jan. 1, 2028

Term of the loan

5 years

Net proceeds from refinancing of debt

$ 17,200,000

Future periodic payment including principal

225,851

Mortgage prepayment penalty

1,200,000

Fixed rate mortgage loans

48,000,000

$ 29,100,000

Mortgages [Member] | River Edge, NJ Refinanced Mortgage [Member]

Debt Instrument [Line Items]

Fixed interest rate current loan

4.54%

Debt Instrument, Periodic Payment

$ 57,456

Debt Instrument, collateral amount

706,000

Loan amount

11,200,000

Mortgages [Member] | Red Bank, NJ Refinanced Mortgage [Member]

Debt Instrument [Line Items]

Debt Instrument, collateral amount

18,766,000

Mortgages [Member] | Wayne, PSC LLC [Member]

Debt Instrument [Line Items]

Refinanced loan amount

$ 24,200,000

$ 25,800,000

Basis points, interest rate

2.20%

Fixed interest rate on old loan

6.04%

Fixed interest rate current loan

3.625%

Membership interest percentage

40.00%

Debt Instrument, collateral amount

$ 24,076,000

Debt Instrument, collateral amount classified as construction in progress

400,000

Loan amount

$ 25,800,000

Description of variable interest rate

a reduction in interest rate from 6.04% to 3.625%

Maturity date of loan

Oct. 1, 2026

Net proceeds from refinancing of debt

$ 1,000,000

Fixed rate mortgage loans

$ 23,336,000

23,737,000

Mortgages [Member] | S And A Commercial Associates Limited Partnership [Member]

Debt Instrument [Line Items]

Membership interest percentage

65.00%

Net proceeds from refinancing of debt

$ 11,200,000

Mortgages [Member] | Damascus, MD [Member]

Debt Instrument [Line Items]

Debt Instrument, collateral amount

25,438,000

Escrow released

1,850,000

Fixed rate mortgage loans

18,824,000

19,354,000

Mortgages [Member] | Middletown, NY Mortgage [Member]

Debt Instrument [Line Items]

Fixed rate mortgage loans

15,255,000

$ 15,588,000

Mortgages [Member] | Frederick, MD [Member]

Debt Instrument [Line Items]

Debt Instrument, collateral amount

12,528,000

Mortgages [Member] | Westwood Hills Property [Member]

Debt Instrument [Line Items]

Refinanced loan amount

$ 25,000,000

Basis points, interest rate

400.00%

Loan amount

8,537,000

Maturity date of loan

Oct. 1, 2022

Fixed rate mortgage loans

$ 19,200,000

Legal fees

$ 250,000

Mortgages [Member] | Westwood Hills Property [Member] | Maximum [Member]

Debt Instrument [Line Items]

Fixed interest rate on old loan

4.62%

Fixed rate mortgage loans

$ 5,600,000

Mortgages [Member] | Westwood Hills Property [Member] | Minimum [Member]

Debt Instrument [Line Items]

Fixed interest rate on old loan

4.15%

Fixed rate mortgage loans

$ 2,200,000

Mortgages [Member] | COVID 19 [Member]

Debt Instrument [Line Items]

Deferred Interest

162,100

Deferred payments

303,800

Remaining deferred Amount

$ 141,700

Provident Bank [Member] | Middletown, NY Mortgage [Member]

Debt Instrument [Line Items]

Basis points, interest rate

1.25%

Fixed interest rate current loan

3.75%

Debt Instrument, collateral amount

$ 18,260,000

Loan amount

$ 16,200,000

Maturity date of loan

Dec. 15, 2024

Monthly principal payment amount

$ 27,807

WestFREIT Corp [Member]

Debt Instrument [Line Items]

Basis points, interest rate

2.40%

Fixed interest rate current loan

2.55%

Debt Instrument, Periodic Payment

$ 47,250

Loan amount

$ 22,500,000

Maturity date of loan

May 1, 2020

Rotunda [Member]

Debt Instrument [Line Items]

Basis points, interest rate

2.85%

Variable interest rate

2.99%

Debt Instrument, collateral amount

$ 140,206,000

Loan amount

$ 118,500,000

Grande Rotunda LLC Construction Loan [Member]

Debt Instrument [Line Items]

Interest rate cap

3.00%

Loan amount

$ 121,900,000

Line of Credit, available

$ 3,380,000

Mortgages payable and credit _4

Mortgages payable and credit line (Schedule of Debt) (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019	Jan. 08, 2018
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ 1,810	$ 2,886
Total mortgages, notes payable and credit line	307,240	352,790
Mortgages [Member]
Debt Instrument [Line Items]
Fixed rate mortgage loans	141,945	212,070
Unamortized debt issuance costs	1,190	2,006
Variable rate mortgage loan	165,295	140,720
Mortgages [Member] | Rockaway, NJ Mortgage [Member]
Debt Instrument [Line Items]
Fixed rate mortgage loans	15,050	15,615
Unamortized debt issuance costs	23	51
Mortgages [Member] | Westwood, NJ #2 [Member]
Debt Instrument [Line Items]
Fixed rate mortgage loans	18,695	18,973
Unamortized debt issuance costs	71	103
Mortgages [Member] | Wayne, NJ Mortgage [Member] | Berdan Court, LLC [Member]
Debt Instrument [Line Items]
Fixed rate mortgage loans	28,815	28,815
Unamortized debt issuance costs	427	475
Mortgages [Member] | River Edge, NJ First Mortgage [Member]
Debt Instrument [Line Items]
Fixed rate mortgage loans	9,789	10,021
Unamortized debt issuance costs	53	70
Mortgages [Member] | Red Bank, NJ Mortgage [Member]
Debt Instrument [Line Items]
Fixed rate mortgage loans	12,181	12,350
Unamortized debt issuance costs	108	123
Mortgages [Member] | Westwood, NJ #3 [Member]
Debt Instrument [Line Items]
Fixed rate mortgage loans		19,617
Unamortized debt issuance costs		34
Mortgages [Member] | Wayne, PSC LLC [Member]
Debt Instrument [Line Items]
Fixed rate mortgage loans	23,336	23,737
Unamortized debt issuance costs	205	240
Mortgages [Member] | Hackensack, NJ [Member] | Pierre Towers, LLC [Member]
Debt Instrument [Line Items]
Fixed rate mortgage loans		48,000	$ 29,100
Unamortized debt issuance costs		509
Mortgages [Member] | Damascus, MD [Member]
Debt Instrument [Line Items]
Fixed rate mortgage loans	18,824	19,354
Unamortized debt issuance costs	166	231
Mortgages [Member] | Middletown, NY Mortgage [Member]
Debt Instrument [Line Items]
Fixed rate mortgage loans	15,255	15,588
Unamortized debt issuance costs	137	170
Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs	620	880
Variable rate mortgage loans and credit line	165,295	140,720
Notes Payable, Other Payables [Member] | Frederick, MD [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs		28
Variable rate mortgage loan	21,775	22,200
Notes Payable, Other Payables [Member] | Westwood, NJ [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs	460
Variable rate mortgage loan	25,000
Notes Payable, Other Payables [Member] | Baltimore, MD [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs	160	800
Variable rate mortgage loan	118,520	118,520
Provident Bank [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs		52
Line of credit

Mortgages payable and credit _5

Mortgages payable and credit line (Schedule of Fair Value of Long-Term Debt) (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Fair Value Disclosures [Abstract]
Fair value of long-term debt	$ 311.4	$ 352.9
Carrying value of long-term debt	$ 305.4	$ 349.9

Mortgages payable and credit _6

Mortgages payable and credit line (Schedule of Principal Amounts Due) (Details) $ in Thousands	Oct. 31, 2020USD ($)
Debt Disclosure [Abstract]
2021	$ 143,388	[1],[2]
2022	17,380
2023	61,713
2024	10,492
2025	$ 15,596
[1]	Includes loan on Rotunda property located in Baltimore, Maryland in the amount of approximately $118.5 million which matures on February 6, 2021 and has two one-year renewal options, subject to certain requirements as provided for in the loan agreement. On November 5, 2020, Grande Rotunda elected to exercise the first extension option on this loan to extend the initial maturity date from February 6, 2021 until February 6, 2022. In order to extend the maturity due date Grande Rotunda must satisfy the following conditions: (a) pay to lender an extension fee of 0.2% of the extended loan balance; (b) certify that no default or events of default exist; (c) extend the interest rate cap to expire on February 6, 2022; and (d) allow lender to obtain an updated appraisal of the property. The principal balance of the amount of the loan to be extended must not exceed a loan-to-value of 62.5%. To the extent the loan-to-value exceeds the 62.5% limit, the loan must be brought in to balance via a loan reduction or by other means satisfactory to the Lender. (See Note 5(L))
[2]	Includes loan on Westridge Square Shopping Center located in Frederick, Maryland in the amount of approximately $21.8 million which had a maturity date of May 1, 2020 and was extended to November 1, 2020. This loan has been further extended with a new maturity date of January 31, 2021 under the same terms and conditions of the existing agreement while the lender is in discussions with the Company regarding a further modification and extension of this loan.

Interest rate cap and swap co_2

Interest rate cap and swap contracts (Details) - USD ($)	Feb. 07, 2018	Dec. 07, 2017	Feb. 28, 2020	Sep. 29, 2016	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Apr. 22, 2016	Dec. 26, 2012
Derivative [Line Items]
Unrealized gain (loss) on derivatives						$ (160,000)	$ 72,000
Net unrealized (loss) gain on interest rate swap contracts					(2,798,000)	(6,400,000)	3,113,000
Interest rate swap contract liabilities					4,924,000	2,126,000
Damascus Centre Swap [Member]
Derivative [Line Items]
Interest rate swap contract assets							955,000
Interest rate swap contract liabilities					610,000	179,000
Wayne PSC swap [Member]
Derivative [Line Items]
Interest rate swap contract assets							2,452,000
Interest rate swap contract liabilities					1,260,000	53,000
Regency Swap [Member]
Derivative [Line Items]
Interest rate swap contract assets							408,000
Interest rate swap contract liabilities					1,385,000	860,000
Station Place swap [Member]
Derivative [Line Items]
Interest rate swap contract assets							460,000
Interest rate swap contract liabilities					1,669,000	1,034,000
Grande Rotunda interest rate cap [Member]
Derivative [Line Items]
Interest rate swap contract liabilities					0	$ 0
Station Place [Member]
Derivative [Line Items]
Percentage of acquisition		100.00%
Loan amount		$ 12,350,000
Notional amount of interest rate swap					12,200,000
Fixed interest rate		4.35%
Basis points, interest rate		1.80%
Maturity date of loan		Dec. 15, 2027
Aareal Capital Corporation [Member]
Derivative [Line Items]
Loan amount	$ 118,500,000
Available to draw	$ 3,380,000
Basis points, interest rate	2.85%
Maturity date of loan	Feb. 6, 2021
Grande Rotunda LLC Loan [Member]
Derivative [Line Items]
Derivative notional amount					$ 121,900,000
Maturity date of cap					Mar. 5, 2021
Grande Rotunda LLC Loan [Member] | Two Years [Member]
Derivative [Line Items]
Loan amount					$ 118,500,000
Notional amount of interest rate swap					$ 121,900,000
Interest rate cap					3.00%
Maturity date of cap					Mar. 5, 2020
Grande Rotunda LLC Loan [Member] | One Years [Member]
Derivative [Line Items]
Notional amount of interest rate swap			$ 121,900,000
Interest rate cap			3.00%
Maturity date of cap			Mar. 5, 2020
Wayne PSC Loan [Member]
Derivative [Line Items]
Refinanced loan amount				$ 24,200,000
Loan amount				$ 25,800,000	$ 23,300,000
Notional amount of interest rate swap					23,100,000
Fixed interest rate				3.625%
Basis points, interest rate				2.20%
Maturity date of loan				Oct. 1, 2026
People's United Bank [Member]
Derivative [Line Items]
Loan amount					18,800,000
Notional amount of interest rate swap					$ 18,900,000
People's United Bank [Member] | Tranche One [Member]
Derivative [Line Items]
Loan amount									$ 20,000,000
Fixed interest rate					3.81%
Basis points, interest rate					2.10%
Maturity date of loan					Jan. 3, 2023
People's United Bank [Member] | Tranche Two [Member]
Derivative [Line Items]
Loan amount								$ 2,320,000
Fixed interest rate					3.53%
Regency Loan [Member]
Derivative [Line Items]
Refinanced loan amount					$ 16,200,000
Loan amount					15,300,000
Notional amount of interest rate swap					$ 15,300,000
Basis points, interest rate					1.25%
Maturity date of loan					Dec. 15, 2024
Grande Rotunda LLC [Member]
Derivative [Line Items]
Unrealized gain (loss) on derivatives							72,000
Interest rate cap asset							$ 160,000

Commitments and contingencies_2

Commitments and contingencies (Narrative) (Details)	12 Months Ended
	Oct. 31, 2020USD ($)
Commercial space leases, net book value	$ 131,700,000
Lease terms for residential tenants, periods	2 years
Westwood Plaza Shopping Center [Member]
Flood insurance, amount per incident	$ 500,000

Commitments and contingencies_3

Commitments and contingencies (Schedule of Minimum Rental Income) (Details) $ in Thousands	Oct. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021	$ 17,253
2022	14,470
2023	11,809
2024	9,640
2025	8,191
Thereafter	25,601
Total	$ 86,964

Management agreement, fees an_2

Management agreement, fees and transactions with related party (Details) - USD ($)	May 08, 2008	Feb. 28, 2018	Oct. 31, 2020	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2016
Related Party Transaction [Line Items]
Asset management fees				$ 2,251,000	$ 2,603,000	$ 2,547,000
Sale/Acquisition commissions						522,500
Insurance commissions			$ 26,000
Due to affiliate			5,921,000	5,921,000	5,705,000
Secured loans receivable			5,194,000	5,194,000	5,053,000
Commissions related to loan financing				144,075
Letter of Credit [Member]
Related Party Transaction [Line Items]
Sale/Acquisition commissions						32,500
Damascus Centre [Member]
Related Party Transaction [Line Items]
Secured notes outstanding						1,870,000
Principal amount on notes						1,451,000
Accrued interest payable					419,000
Grande Rotunda, LLC [Member]
Related Party Transaction [Line Items]
Aggregate outstanding principal balance			4,000,000	4,000,000	4,000,000
Accrued but unpaid interest			$ 1,194,000	$ 1,194,000	1,053,000
Ownership by parent (percentage)			60.00%	60.00%
Ownership by noncontrolling owners (percentage)			40.00%	40.00%
Due to affiliate			$ 5,900,000	$ 5,900,000	5,700,000
Managing Agent Hekemian & Co [Member]
Related Party Transaction [Line Items]
Asset management fees				2,201,000	2,549,000	2,438,000
Leasing commissions and reimbursement of operating expenses				982,000	762,000	742,000
Insurance commissions				190,000	196,000	178,000
Maximum advances to employees	$ 2,000,000			4,000,000
Accounts Payable			$ 182,000	182,000	219,000
Rotunda 100 [Member]
Related Party Transaction [Line Items]
Fee amount				1,400,000
Affiliated Entity 1 [Member]
Related Party Transaction [Line Items]
Development fees included in accounts payable							$ 900,000	$ 900,000
Consulting services expense				125,000	275,000	1,195,000
Berdan Court, LLC [Member]
Related Party Transaction [Line Items]
Sale/Acquisition commissions					131,250
Grande Rotunda, LLC [Member]
Related Party Transaction [Line Items]
Sale/Acquisition commissions						400,000
Fee amount		$ 900,000
Fee resources amount						900,000
Pierre Towers, LLC [Member]
Related Party Transaction [Line Items]
Sale/Acquisition commissions						240,000
Robert S. Hekemian [Member]
Related Party Transaction [Line Items]
Trustee fee expense				21,000	214,000	365,000
Consulting services expense				8,000	60,000	34,200
Consulting fee per month				5,000
Consulting fee quarterly installments				15,000
Robert S. Hekemian, Jr. [Member]
Related Party Transaction [Line Items]
Trustee fee expense				508,000	381,000	235,000
Allan Tubin [Member]
Related Party Transaction [Line Items]
Trustee fee expense				26,000	22,000	0
David Hekemian [Member]
Related Party Transaction [Line Items]
Trustee fee expense				$ 50,000	$ 56,000	$ 26,000

Income taxes (Details)

Income taxes (Details)	12 Months Ended
	Oct. 31, 2020
Income Tax Disclosure [Abstract]
Ordinary taxable income distributed as dividends (percentage)	100.00%
Capital gain from sale of property as dividends (percentage)	100.00%

Equity incentive plan (Details)

Equity incentive plan (Details) - USD ($)	Mar. 04, 2019	May 03, 2018	Apr. 05, 2018	Nov. 10, 2016	Sep. 04, 2014	Apr. 04, 2007	Sep. 10, 1998	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized to be issued under plan							920,000
Increase in number of shares authorized			300,000			300,000	920,000
Shares available for issuance								442,060
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan term	10 years	10 years		10 years	10 years
Vesting term	5 years	5 years		5 years
No. of Options Outstanding
Options outstanding beginning of year								310,740	305,780	267,780
Options granted during year	5,000	38,000		38,000	246,000				5,000	38,000
Options forfeited/cancelled during year									(40)
Options outstanding end of year								310,740	310,740	305,780
Options vested and expected to vest								308,310	308,310	299,140
Options exercisable at end of year								276,340	260,140	200,260
Exercise Price
Options outstanding beginning of year								$ 18.35	$ 18.40	$ 18.81
Options granted during year	$ 15	$ 15.50		$ 21	$ 18.45				15	15.50
Options forfeited/cancelled during year									18.45
Options outstanding end of year								$ 18.35	18.35	18.40
Estimated fair value of options granted									$ 2.43	$ 2.09
Such value was estimated on the grant date using a binomial lattice option pricing model using the following assumptions:
Expected volatility									27.69%	27.60%
Risk-free interest rate									2.72%	2.94%
Imputed option life									6 years 3 months 18 days	6 years 7 months 6 days
Expected dividend yield									3.82%	4.70%
Compensation expense related to stock options								$ 46,000	$ 124,000	$ 130,000
Unrecognized compensation cost								$ 71,000
Unrecognized compensation cost, recognition period								2 years 3 months 18 days

Deferred fee plan (Details)

Deferred fee plan (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Dec. 31, 2019
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Dividends payable		$ 1,357,000	$ 338,000
Robert S. Hekemian [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Trustee fee expense	21,000	214,000	$ 365,000
Deferred Fee Plan [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Trustee fee expense	526,000	986,000
Deferred trustee fees	526,000	879,800
Deferred accrued interest	$ 1,091,000	$ 3,188,000
Basis spread on any deferred fee (percentage)	1.50%
Shares issued	29,134	60,148
Dividends payable	$ 0	$ 106,200
Cumulative fees	$ 1,542,000	$ 4,422,000
Deferred Fee Plan [Member] | Robert S. Hekemian [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Lump sum accrued plan benefits payable related party				$ 4,800,000

Dividends and earnings per sh_2

Dividends and earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Earnings Per Share [Abstract]
Dividends declared (amount)										$ 4,173	$ 1,035
Dividends declared per share					$ 0.20	$ 0.125	$ 0.125	$ 0.15		$ 0.60	$ 0.15
Increase in average dilutive shares outstanding
Anti-dulutive shares excluded from the computation of diluted earnings per share									268,000	306,000	306,000
Average dilutive shares outstanding									1,500

Segment information (Details)

Segment information (Details) $ in Thousands	3 Months Ended									12 Months Ended
	Oct. 31, 2020USD ($)properties	Jul. 31, 2020USD ($)		Apr. 30, 2020USD ($)	Jan. 31, 2020USD ($)	Oct. 31, 2019USD ($)properties	Jul. 31, 2019USD ($)	Apr. 30, 2019USD ($)	Jan. 31, 2019USD ($)	Oct. 31, 2020USD ($)segmentsproperties	Oct. 31, 2019USD ($)properties	Oct. 31, 2018USD ($)properties
Reportable Segments
Real estate rental revenue	$ 11,297	$ 12,149	[1]	$ 13,688	$ 15,593	$ 15,308	$ 15,255	$ 14,786	$ 14,928	$ 52,727	$ 60,277	$ 57,997
Real estate operating expenses										48,967	41,450	38,703
Operating income										3,760	18,827	19,294
Reconciliation to consolidated net income attributable to common equity:
Deferred rents - straight lining										(397)	410	605
Investment income										204	360	267
Unrealized (loss) gain on interest rate cap contract											(160)	72
Special Committee third party advisory, legal and other expenses										(4,606)	(1,416)
Gain on sale of property											836
Gain on deconsolidation of subsidiary										27,680
Loss on investment in tenancy-in-common										(202)
General and administrative expenses										(3,821)	(2,633)	(2,305)
Depreciation										(10,341)	(11,339)	(11,515)
Tenant improvement write-off due to COVID-19										(7,277)
Financing costs										(14,122)	(18,070)	(18,667)
Net income	(7,475)	(320)		27,136	(2,021)	263	265	830	435	17,320	1,793	966
Net (income) loss attributable to noncontrolling interests	3,251	139		84	(241)	80	(66)	(44)	24	3,233	(6)	517
Net income attributable to common equity	$ (4,224)	$ (181)		$ 27,220	$ (2,262)	$ 343	$ 199	$ 786	$ 459	$ 20,553	$ 1,787	$ 1,483
Number of reportable segments | segments										2
Commercial [Member]
Reconciliation to consolidated net income attributable to common equity:
Number of properties | properties	8					8				8	8	9
Residential [Member]
Reportable Segments
Recurring capital improvements - residential										$ (347)	$ (685)	$ (738)
Reconciliation to consolidated net income attributable to common equity:
Number of properties | properties	7					8				7	8	8
Operating Segments [Member]
Reportable Segments
Real estate rental revenue										$ 53,124	$ 59,867	$ 57,392
Real estate operating expenses										22,922	26,062	24,883
Operating income										30,202	33,805	32,509
Reconciliation to consolidated net income attributable to common equity:
Segment NOI										30,202	33,805	32,509
Operating Segments [Member] | Commercial [Member]
Reportable Segments
Real estate rental revenue										24,486	26,692	25,464
Real estate operating expenses										11,334	11,694	11,861
Operating income										13,152	14,998	13,603
Operating Segments [Member] | Residential [Member]
Reportable Segments
Real estate rental revenue										28,638	33,175	31,928
Real estate operating expenses										11,588	14,368	13,022
Operating income										$ 17,050	$ 18,807	$ 18,906
[1]	Includes impact of the rejection of the lease for Cobb Theatre at the Rotunda retail property as of June 30, 2020 resulting in the reversal against revenue of uncollected rents in the amount of approximately $ 0.3 million and a straight-line rent receivable of approximately $ 0.4 million and the write-off of unamortized leasing commissions in the amount of approximately $ 0.2 million resulting in a net impact of approximately $ 0.9 million (with a consolidated impact to FREIT of approximately $ 0.5 million). ($ 0.07 per share)

Termination of Purchase and S_2

Termination of Purchase and Sale Agreement (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 17, 2020	Oct. 31, 2020	Oct. 31, 2019	Jan. 14, 2020	Oct. 31, 2018
Escrow deposit amount		$ 1,249,000	$ 2,135,000		$ 2,435,000
Amount of liquidated damages	$ 15,000,000
Expense incurred		4,606,000	$ 1,416,000
Legal costs		$ 957,000
Purchase and Sale Agreement [Member] | Six Apartment Properties [Member]
Percentage of ownership interest				100.00%
Purchase and Sale Agreement [Member] | Six Apartment Properties [Member] | Letter of Credit [Member]
Escrow deposit amount				$ 15,000,000

COVID-19 Pandemic (Details)

COVID-19 Pandemic (Details) - USD ($)	1 Months Ended	7 Months Ended	12 Months Ended
	May 30, 2020	Oct. 31, 2020	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Increase in expense for reserve of uncollectible rents			$ 300,000
Increase in expense for reserve of uncollectible rents with consolidated impact			200,000
Security deposit as accounts receivables		$ 1,408,000	1,408,000	$ 2,278,000	$ 2,212,000
Uncollected rents		300,000	300,000
Rental revenue deemed uncollectible			1,400,000
Deferrals of rent			206,000
Rent abatements			238,000
Tenant improvements related to Cobb Theatre with net book value			7,300,000
Loss of base rent and additional rent			1,100,000
Unamortized leasing commissions fully expensed in a net impact of net income			900,000
Cost savings			1,100,000
Straight-line rent receivable		400,000	400,000
Unamortized leasing commissions		200,000	200,000
Deferred payments of loan		1,013,000	1,013,000
Special committee fees			5,100,000
Cash balance		36,900,000	36,900,000
Available line of credit		$ 13,000,000	13,000,000
Repayments Of Loan			162,000
FREIT [Member]
Rental revenue deemed uncollectible			900,000
Deferrals of rent			192,000
Rent abatements			156,000
Tenant improvements related to Cobb Theatre with net book value			4,400,000
Loss of base rent and additional rent			700,000
Unamortized leasing commissions fully expensed in a net impact of net income			500,000
Cost savings			800,000
Two Retired Trustees [Member]
Deferred compensation paid			5,000,000
Executive officers and members of Board of Trustees [Member]
Percentage reduction in fees, salaries and retainers payable	30.00%
Commercial Properties [Member]
Average cash realization percentage		74.00%
Security deposit as accounts receivables		$ 387,000	$ 387,000

Investment in tenancy-in-comm_3

Investment in tenancy-in-common ('TIC') (Narrative) (Details) - USD ($)	6 Months Ended	8 Months Ended	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2020	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Feb. 28, 2020
Schedule of Equity Method Investments [Line Items]
Gain on deconsolidation of subsidiary			$ 27,680,000
Investment in tenancy-in-common	$ 20,101,000	$ 20,101,000	20,101,000
Loss on investment in tenancy-in-common			$ 202,000
Percentage of management fees of rent collected		5.00%
Management fees	$ 32,000	$ 241,000
Insurance commissions		$ 26,000
S And A Commercial Associates Limited Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest						65.00%
Pierre Towers, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest						100.00%
TIC Agreement [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest						65.00%

Investment in tenancy-in-comm_4

Investment in tenancy-in-common ('TIC') (Schedule of balance sheet of Pierre Property) (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Schedule of Equity Method Investments [Line Items]
Real estate, net	$ 278,150	$ 330,108
Cash and cash equivalents	36,860	38,075	$ 21,747
Tenants' security accounts	1,408	2,278
Receivables and other assets	1,811	1,741
Total Assets	355,215	390,618
Mortgages payable, net of unamortized debt issuance costs	305,430	349,904
Accounts payable and accrued expenses	2,277	3,097
Tenants' security deposits	2,124	3,381
Deferred revenue	1,043	1,390
Equity	30,863	16,048	$ 24,344	$ 28,590
Total Liabilities and Equity	355,215	390,618
FREIT's investment in TIC (65% interest)	20,101
Pierre Property [Member]
Schedule of Equity Method Investments [Line Items]
Real estate, net	80,041
Cash and cash equivalents	754
Tenants' security accounts	523
Receivables and other assets	468
Total Assets	81,786
Mortgages payable, net of unamortized debt issuance costs	49,956
Accounts payable and accrued expenses	314
Tenants' security deposits	535
Deferred revenue	56
Equity	30,925
Total Liabilities and Equity	81,786
FREIT's investment in TIC (65% interest)	$ 20,101

Investment in tenancy-in-comm_5

Investment in tenancy-in-common ('TIC') (Schedule of Income Statement of Pierre Property) (Details) - USD ($) $ in Thousands	3 Months Ended									8 Months Ended	12 Months Ended
	Oct. 31, 2020	Jul. 31, 2020		Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2020	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Schedule of Equity Method Investments [Line Items]
Revenue	$ 11,297	$ 12,149	[1]	$ 13,688	$ 15,593	$ 15,308	$ 15,255	$ 14,786	$ 14,928		$ 52,727	$ 60,277	$ 57,997
Operating expenses											48,967	41,450	38,703
Net operating income											3,760	18,827	19,294
Depreciation											10,341	11,339	11,515
Interest expense including amortization of deferred financing costs											14,122	18,070	18,667
Net income	$ (7,475)	$ (320)		$ 27,136	$ (2,021)	$ 263	$ 265	$ 830	$ 435		17,320	1,793	966
FREIT's loss on investment in TIC (65% interest)											$ (202)
Pierre Property [Member]
Schedule of Equity Method Investments [Line Items]
Revenue										$ 4,981
Operating expenses										2,786
Net operating income										2,195
Depreciation										1,435
Interest expense including amortization of deferred financing costs										1,070
Net income										(310)
FREIT's loss on investment in TIC (65% interest)										$ (202)
[1]	Includes impact of the rejection of the lease for Cobb Theatre at the Rotunda retail property as of June 30, 2020 resulting in the reversal against revenue of uncollected rents in the amount of approximately $ 0.3 million and a straight-line rent receivable of approximately $ 0.4 million and the write-off of unamortized leasing commissions in the amount of approximately $ 0.2 million resulting in a net impact of approximately $ 0.9 million (with a consolidated impact to FREIT of approximately $ 0.5 million). ($ 0.07 per share)

Selected quarterly financial _3

Selected quarterly financial data (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 08, 2019	Jun. 30, 2020	Feb. 28, 2020	Oct. 31, 2020		Jul. 31, 2020		Apr. 30, 2020		Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019		Jan. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Revenue				$ 11,297		$ 12,149	[1]	$ 13,688		$ 15,593	$ 15,308	$ 15,255	$ 14,786		$ 14,928	$ 52,727	$ 60,277	$ 57,997
Expenses				18,772	[2]	12,469	[1]	(13,448)	[3]	17,614	15,045	14,990	13,956	[4]	14,493	35,407	58,484
Net income				(7,475)		(320)		27,136		(2,021)	263	265	830		435	17,320	1,793	966
Net loss (income) attributable to noncontrolling interests in subsidiaries				3,251		139		84		(241)	80	(66)	(44)		24	3,233	(6)	517
Net (loss) income attributable to common equity				$ (4,224)		$ (181)		$ 27,220		$ (2,262)	$ 343	$ 199	$ 786		$ 459	$ 20,553	$ 1,787	$ 1,483
(Loss) Earnings per share - basic and diluted				$ (0.60)	[2]	$ (0.02)	[1]	$ 3.88	[3]	$ (0.32)	$ 0.05	$ 0.03	$ 0.11	[4]	$ 0.07	$ 2.94	$ 0.26	$ 0.21
Dividends declared per share											$ 0.20	$ 0.125	$ 0.125		$ 0.15		$ 0.60	$ 0.15
Deferred rents - straight lining																$ 397	$ (410)	$ (605)
Gain on sale of property per share	$ 0.12		$ 3.96													$ 0.62
Gain from sales	$ 800		$ 27,700
Straight-line rent receivable				$ 400												$ 400
Increase in expense for reserve of uncollectible rents																300
Increase in expense for reserve of uncollectible rents with consolidated impact																200
Unamortized leasing commissions fully expensed in a net impact of net income																900
Tenant improvements related to Cobb Theatre with net book value																7,300
FREIT [Member]
Unamortized leasing commissions fully expensed in a net impact of net income																500
Tenant improvements related to Cobb Theatre with net book value																$ 4,400
Cobb theater Rotunda retail property [Mmeber]
Gain on sale of property per share		$ 0.07
[1]	Includes impact of the rejection of the lease for Cobb Theatre at the Rotunda retail property as of June 30, 2020 resulting in the reversal against revenue of uncollected rents in the amount of approximately $ 0.3 million and a straight-line rent receivable of approximately $ 0.4 million and the write-off of unamortized leasing commissions in the amount of approximately $ 0.2 million resulting in a net impact of approximately $ 0.9 million (with a consolidated impact to FREIT of approximately $ 0.5 million). ($ 0.07 per share)
[2]	Includes write-off of Cobb Theatre's tenant improvements of approximately $ 7.3 million (with a consolidated impact to FREIT of approximately $ 4.4 million) at the Rotunda retail property due to COVID-19. ($ 0.62 per share)
[3]	Includes $ 27.7 million gain on deconsolidation of subsidiary related to the Pierre Towers property which was deconsolidated from FREIT's operating results due to the conversion to a tenancy-in-common form of ownership on February 28, 2020. ($ 3.96 per share)
[4]	Includes $ 0.8 million gain on sale of the Patchogue, New York property sold on February 8, 2019. ($ 0.12 per share)

SCHEDULE III - REAL ESTATE AN_2

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Schedule of Properties) (Details) - USD ($) $ in Thousands		12 Months Ended
		Oct. 31, 2020		Oct. 31, 2019		Oct. 31, 2018	Oct. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances							$ 307,240
Initial Cost to Company
Land							62,954
Buildings and Improvements							115,523
Costs Capitalized Subsequent to Acquisition
Land							13,139
Improvements							194,237
Carrying Costs
Gross Amount at Which Carried at Close of Period
Land							76,093
Buildings and Improvements							309,760
Total		$ 448,866	[1]	$ 456,658		$ 433,288	385,853	[1]
Accumulated Depreciation		118,363		111,967		101,194	107,137
Real estate:
Balance, beginning of year		448,866	[1]	456,658		433,288
Additions - Buildings and improvements		2,055		3,386		4,562
Disposal: Buildings and improvements		(585)		(240)		(742)
Tenant improvement write-off due to COVID-19		(8,910)
Acquisition of property						19,550
Sale of property				(10,938)
Deconsolidation of subsidiary		(55,573)
Balance, end of year		385,853	[1]	448,866	[1]	456,658
Accumulated depreciation:
Balance, beginning of year		118,363		111,967		101,194
Additions - Charged to operating expenses		10,341		11,339		11,515
Tenant improvement write-off due to COVID-19 - Charged to operating expenses		(1,637)
Disposal - Buildings and improvements		(583)		(217)		(742)
Sale of property				(4,726)
Deconsolidation of subsidiary		(19,347)
Balance, end of year		107,137		$ 118,363		$ 111,967
Residential Properties [Member] | Steuben Arms, River Edge, NJ [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances							9,789
Initial Cost to Company
Land							364
Buildings and Improvements							1,773
Costs Capitalized Subsequent to Acquisition
Land
Improvements							1,506
Gross Amount at Which Carried at Close of Period
Land							364
Buildings and Improvements							3,279
Total	[1]	3,643					3,643
Accumulated Depreciation		2,937					2,937
Real estate:
Balance, end of year	[1]	3,643
Accumulated depreciation:
Balance, end of year		$ 2,937
Residential Properties [Member] | Steuben Arms, River Edge, NJ [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		7 years
Residential Properties [Member] | Steuben Arms, River Edge, NJ [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		40 years
Residential Properties [Member] | Berdan Court, Wayne, NJ [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances							28,815
Initial Cost to Company
Land							250
Buildings and Improvements							2,206
Costs Capitalized Subsequent to Acquisition
Land
Improvements							4,865
Gross Amount at Which Carried at Close of Period
Land							250
Buildings and Improvements							7,071
Total	[1]	$ 7,321					7,321
Accumulated Depreciation		5,791					5,791
Real estate:
Balance, end of year	[1]	7,321
Accumulated depreciation:
Balance, end of year		$ 5,791
Residential Properties [Member] | Berdan Court, Wayne, NJ [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		7 years
Residential Properties [Member] | Berdan Court, Wayne, NJ [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		40 years
Residential Properties [Member] | Westwood Hills, Westwood, NJ [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances							25,000
Initial Cost to Company
Land							3,849
Buildings and Improvements							11,546
Costs Capitalized Subsequent to Acquisition
Land
Improvements							2,826
Gross Amount at Which Carried at Close of Period
Land							3,849
Buildings and Improvements							14,372
Total	[1]	$ 18,221					18,221
Accumulated Depreciation		9,684					9,684
Real estate:
Balance, end of year	[1]	18,221
Accumulated depreciation:
Balance, end of year		$ 9,684
Residential Properties [Member] | Westwood Hills, Westwood, NJ [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		7 years
Residential Properties [Member] | Westwood Hills, Westwood, NJ [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		39 years
Residential Properties [Member] | Boulders - Rockaway, NJ [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances							15,050
Initial Cost to Company
Land							1,632
Buildings and Improvements
Costs Capitalized Subsequent to Acquisition
Land							3,386
Improvements							16,011
Gross Amount at Which Carried at Close of Period
Land							5,018
Buildings and Improvements							16,011
Total	[1]	$ 21,029					21,029
Accumulated Depreciation		6,185					6,185
Real estate:
Balance, end of year	[1]	21,029
Accumulated depreciation:
Balance, end of year		$ 6,185
Residential Properties [Member] | Boulders - Rockaway, NJ [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		7 years
Residential Properties [Member] | Boulders - Rockaway, NJ [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		40 years
Residential Properties [Member] | Regency Club - Middletown, NY [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances							15,255
Initial Cost to Company
Land							2,833
Buildings and Improvements							17,792
Costs Capitalized Subsequent to Acquisition
Land
Improvements							774
Gross Amount at Which Carried at Close of Period
Land							2,833
Buildings and Improvements							18,566
Total	[1]	$ 21,399					21,399
Accumulated Depreciation		3,139					3,139
Cost for Federal income tax purposes							13,300
Real estate:
Balance, end of year	[1]	21,399
Accumulated depreciation:
Balance, end of year		$ 3,139
Residential Properties [Member] | Regency Club - Middletown, NY [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		7 years
Residential Properties [Member] | Regency Club - Middletown, NY [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		40 years
Residential Properties [Member] | Icon - Baltimore, MD [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances							65,186
Initial Cost to Company
Land							5,871
Buildings and Improvements
Costs Capitalized Subsequent to Acquisition
Land
Improvements							87,770
Gross Amount at Which Carried at Close of Period
Land							5,871
Buildings and Improvements							87,770
Total	[1]	$ 93,641					93,641
Accumulated Depreciation		9,347					9,347
Real estate:
Balance, end of year	[1]	93,641
Accumulated depreciation:
Balance, end of year		$ 9,347
Residential Properties [Member] | Icon - Baltimore, MD [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		7 years
Residential Properties [Member] | Icon - Baltimore, MD [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		40 years
Residential Properties [Member] | Station Place, Red Bank [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances							12,181
Initial Cost to Company
Land							8,793
Buildings and Improvements							10,757
Costs Capitalized Subsequent to Acquisition
Land
Improvements							1
Gross Amount at Which Carried at Close of Period
Land							8,793
Buildings and Improvements							10,758
Total	[1]	$ 19,551					19,551
Accumulated Depreciation		785					785
Cost for Federal income tax purposes							4,200
Real estate:
Balance, end of year	[1]	19,551
Accumulated depreciation:
Balance, end of year		$ 785
Residential Properties [Member] | Station Place, Red Bank [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		7 years
Residential Properties [Member] | Station Place, Red Bank [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		40 years
Westwood Plaza and Damascus Shopping Center [Member] | Damascus Shopping Center, Damascus, MD [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances							18,824
Initial Cost to Company
Land							2,950
Buildings and Improvements							6,987
Costs Capitalized Subsequent to Acquisition
Land							6,296
Improvements							17,589
Gross Amount at Which Carried at Close of Period
Land							9,246
Buildings and Improvements							24,576
Total	[1]	$ 33,822					33,822
Accumulated Depreciation		8,384					8,384
Real estate:
Balance, end of year	[1]	33,822
Accumulated depreciation:
Balance, end of year		$ 8,384
Westwood Plaza and Damascus Shopping Center [Member] | Damascus Shopping Center, Damascus, MD [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		5 years
Westwood Plaza and Damascus Shopping Center [Member] | Damascus Shopping Center, Damascus, MD [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		39 years 6 months
Westwood Plaza and Damascus Shopping Center [Member] | Franklin Crossing, Franklin Lakes, NJ [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial Cost to Company
Land							29
Buildings and Improvements
Costs Capitalized Subsequent to Acquisition
Land							3,382
Improvements							7,426
Gross Amount at Which Carried at Close of Period
Land							3,411
Buildings and Improvements							7,426
Total	[1]	$ 10,837					10,837
Accumulated Depreciation		4,387					4,387
Real estate:
Balance, end of year	[1]	10,837
Accumulated depreciation:
Balance, end of year		$ 4,387
Westwood Plaza and Damascus Shopping Center [Member] | Franklin Crossing, Franklin Lakes, NJ [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		5 years
Westwood Plaza and Damascus Shopping Center [Member] | Franklin Crossing, Franklin Lakes, NJ [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		39 years 6 months
Westwood Plaza and Damascus Shopping Center [Member] | Glen Rock, NJ [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial Cost to Company
Land							12
Buildings and Improvements							36
Costs Capitalized Subsequent to Acquisition
Land
Improvements							235
Gross Amount at Which Carried at Close of Period
Land							12
Buildings and Improvements							271
Total	[1]	$ 283					283
Accumulated Depreciation		219					219
Real estate:
Balance, end of year	[1]	283
Accumulated depreciation:
Balance, end of year		$ 219
Westwood Plaza and Damascus Shopping Center [Member] | Glen Rock, NJ [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		5 years
Westwood Plaza and Damascus Shopping Center [Member] | Glen Rock, NJ [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		25 years
Westwood Plaza and Damascus Shopping Center [Member] | Westridge Square S/C, Frederick, MD [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances							21,775
Initial Cost to Company
Land							9,135
Buildings and Improvements							19,159
Costs Capitalized Subsequent to Acquisition
Land							(1)
Improvements							4,791
Gross Amount at Which Carried at Close of Period
Land							9,134
Buildings and Improvements							23,950
Total	[1]	$ 33,084					33,084
Accumulated Depreciation		20,556					20,556
Real estate:
Balance, end of year	[1]	33,084
Accumulated depreciation:
Balance, end of year		$ 20,556
Westwood Plaza and Damascus Shopping Center [Member] | Westridge Square S/C, Frederick, MD [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		5 years
Westwood Plaza and Damascus Shopping Center [Member] | Westridge Square S/C, Frederick, MD [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		31 years 6 months
Westwood Plaza and Damascus Shopping Center [Member] | Westwood Plaza, Westwood, NJ [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances							18,695
Initial Cost to Company
Land							6,889
Buildings and Improvements							6,416
Costs Capitalized Subsequent to Acquisition
Land
Improvements							2,374
Gross Amount at Which Carried at Close of Period
Land							6,889
Buildings and Improvements							8,790
Total	[1]	$ 15,679					15,679
Accumulated Depreciation		8,601					8,601
Real estate:
Balance, end of year	[1]	15,679
Accumulated depreciation:
Balance, end of year		$ 8,601
Westwood Plaza and Damascus Shopping Center [Member] | Westwood Plaza, Westwood, NJ [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		5 years
Westwood Plaza and Damascus Shopping Center [Member] | Westwood Plaza, Westwood, NJ [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		31 years 6 months
Westwood Plaza and Damascus Shopping Center [Member] | Preakness S/C, Wayne, NJ [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances							23,336
Initial Cost to Company
Land							9,280
Buildings and Improvements							24,217
Costs Capitalized Subsequent to Acquisition
Land
Improvements							2,802
Gross Amount at Which Carried at Close of Period
Land							9,280
Buildings and Improvements							27,019
Total	[1]	$ 36,299					36,299
Accumulated Depreciation		12,509					12,509
Real estate:
Balance, end of year	[1]	36,299
Accumulated depreciation:
Balance, end of year		$ 12,509
Westwood Plaza and Damascus Shopping Center [Member] | Preakness S/C, Wayne, NJ [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		5 years
Westwood Plaza and Damascus Shopping Center [Member] | Preakness S/C, Wayne, NJ [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		39 years 6 months
Westwood Plaza and Damascus Shopping Center [Member] | The Rotunda, Baltimore, MD [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances							53,334
Initial Cost to Company
Land							10,392
Buildings and Improvements							14,634
Costs Capitalized Subsequent to Acquisition
Land							232
Improvements							45,267
Gross Amount at Which Carried at Close of Period
Land							10,624
Buildings and Improvements							59,901
Total	[1]	$ 70,525					70,525
Accumulated Depreciation		14,613					14,613
Cost for Federal income tax purposes							162,200
Real estate:
Balance, end of year	[1]	70,525
Accumulated depreciation:
Balance, end of year		$ 14,613
Westwood Plaza and Damascus Shopping Center [Member] | The Rotunda, Baltimore, MD [Member] | Minimum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		5 years
Westwood Plaza and Damascus Shopping Center [Member] | The Rotunda, Baltimore, MD [Member] | Maximum [Member]
Gross Amount at Which Carried at Close of Period
Life on Which Depreciation is Computed		40 years
Land Leased [Member] | Rockaway, NJ [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial Cost to Company
Land							114
Buildings and Improvements
Costs Capitalized Subsequent to Acquisition
Land
Improvements
Gross Amount at Which Carried at Close of Period
Land							114
Buildings and Improvements
Total	[1]	$ 114					114
Accumulated Depreciation
Real estate:
Balance, end of year	[1]	114
Accumulated depreciation:
Balance, end of year
Vacant Land [Member] | Rockaway, NJ [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial Cost to Company
Land							51
Costs Capitalized Subsequent to Acquisition
Land
Improvements
Gross Amount at Which Carried at Close of Period
Land							51
Buildings and Improvements
Total	[1]	51					51
Accumulated Depreciation
Real estate:
Balance, end of year	[1]	51
Accumulated depreciation:
Balance, end of year
Vacant Land [Member] | Franklin Lakes, NJ [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial Cost to Company
Land							224
Buildings and Improvements
Costs Capitalized Subsequent to Acquisition
Land							(156)
Improvements
Gross Amount at Which Carried at Close of Period
Land							68
Buildings and Improvements
Total	[1]	68					68
Accumulated Depreciation
Real estate:
Balance, end of year	[1]	68
Accumulated depreciation:
Balance, end of year
Vacant Land [Member] | Wayne, NJ [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial Cost to Company
Land							286
Buildings and Improvements
Costs Capitalized Subsequent to Acquisition
Improvements
Gross Amount at Which Carried at Close of Period
Land							286
Buildings and Improvements
Total	[1]	286					286
Accumulated Depreciation
Real estate:
Balance, end of year	[1]	286
Accumulated depreciation:
Balance, end of year
[1]	Total cost for each property is the same for federal income tax purposes, with the exception of Regency Club, Station Place and the Rotunda properties (Icon and The Rotunda) whose cost for federal income tax purposes is approximately $13.3 million, $4.2 million and $162.2 million, respectively.