FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC., 10-Q filed on 17 Mar 26
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v3.26.1
Cover Page - shares
 3 Months Ended
Jan. 31, 2026
Mar. 17, 2026
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Transition Report false  
Entity Interactive Data Current Yes  
Amendment Flag false  
Document Period End Date Jan. 31, 2026  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Entity Registrant Name FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.  
Entity Central Index Key 0000036840  
Entity File Number 000-25043  
Entity Tax Identification Number 22-1697095  
Entity Incorporation, State or Country Code MD  
Current Fiscal Year End Date --10-31  
Entity Current Reporting Status Yes  
Entity Shell Company false  
Entity Filer Category Non-accelerated Filer  
Entity Small Business true  
Entity Emerging Growth Company false  
Entity Address, Address Line One 505 Main Street, Suite 400  
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  
Entity Common Stock, Shares Outstanding   7,482,432
Common stock, par value $0.01 per share    
Document Information [Line Items]    
Title of 12(b) Security Common stock, par value $0.01 per share  
Trading Symbol FREVS  
Security Exchange Name NONE  
Preferred Stock Purchase Rights    
Document Information [Line Items]    
Title of 12(b) Security Preferred Stock Purchase Rights (1)  
v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jan. 31, 2026
Oct. 31, 2025
ASSETS    
Real estate, at cost, net of accumulated depreciation $ 88,788 $ 89,419
Construction in progress 969 968
Cash and cash equivalents 18,503 17,926
Investment in U.S. Treasury securities available-for-sale 17,292 18,174
Investment in tenancy-in-common 16,921 16,922
Tenants' security accounts 810 833
Receivables arising from straight-lining of rents 463 472
Accounts receivable, net of allowance for doubtful accounts of $257 and $258 as of January 31, 2026 and October 31, 2025, respectively 243 201
Prepaid expenses and other assets 4,573 4,511
Deferred charges, net 255 238
Interest rate swap contract 180 210
Total Assets 148,997 149,874
Liabilities:    
Mortgages payable 120,837 121,300
Less unamortized debt issuance costs 426 516
Mortgages payable, net 120,411 120,784
Accounts payable and accrued expenses 717 665
Dividends payable 747 747
Tenants' security deposits 1,145 1,132
Deferred revenue 609 843
Total Liabilities 123,629 124,171
Commitments and contingencies
Common Equity:    
Preferred stock with par value of $0.01 per share: 5,000,000 and 0 shares authorized and issued, respectively
Common stock with par value of $0.01 per share: 20,000,000 shares authorized; 7,471,344 shares issued at January 31, 2026 and October 31, 2025 75 75
Additional paid-in-capital 32,393 32,393
Retained earnings 1,556 1,360
Accumulated other comprehensive income 181 211
Total Common Equity 34,205 34,039
Noncontrolling interests in subsidiaries (8,837) (8,336)
Total Equity 25,368 25,703
Total Liabilities and Equity $ 148,997 $ 149,874
v3.26.1
Condensed Consolidated Balance Sheets (Parentheticals) - USD ($)
$ in Thousands
Jan. 31, 2026
Oct. 31, 2025
Statement of Financial Position [Abstract]    
Preferred stock, par value (in Dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in Shares) 5,000,000 5,000,000
Preferred stock, shares issued (in Shares) 0 0
Common stock par value (in Dollars per share) $ 0.01 $ 0.01
Common stock shares authorized (in Shares) 20,000,000 20,000,000
Common stock shares issued (in Shares) 7,471,344 7,471,344
Allowance for doubtful accounts $ 257 $ 258
v3.26.1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Revenue:    
Rental income $ 6,851 $ 6,592
Reimbursements 553 565
Sundry income 100 112
Total revenue 7,504 7,269
Expenses:    
Operating expenses 2,560 2,765
Management fees 345 368
Real estate taxes 1,498 1,448
Depreciation 721 723
Total expenses 5,124 5,304
Investment income 284 400
(Loss) income on investment in tenancy-in-common (1) 9
Interest expense including amortization of deferred financing costs (1,861) (1,873)
Net income 802 501
Net loss attributable to noncontrolling interests in subsidiaries 141 113
Net income attributable to common equity $ 943 $ 614
Earnings per share:    
Basic (in Dollars per share) $ 0.13 $ 0.08
Diluted (in Dollars per share) $ 0.13 $ 0.08
Weighted average shares outstanding:    
Basic (in Shares) 7,471 7,463
Diluted (in Shares) 7,471 7,463
v3.26.1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Statement of Comprehensive Income [Abstract]    
Net income (loss) $ 802 $ 501
Other comprehensive income:    
Unrealized gain on interest rate swap contract before reclassifications 11 55
Amount reclassified from accumulated other comprehensive income to interest expense (41) (97)
Net unrealized loss on interest rate swap contract (30) (42)
Unrealized gain on U.S. Treasury securities available-for-sale before reclassifications 1 12
Amount reclassified from accumulated other comprehensive income to investment income (1) 1
Net unrealized gain on U.S. Treasury securities available-for-sale 13
Comprehensive income 772 472
Comprehensive loss attributable to noncontrolling interests in subsidiaries 141 113
Comprehensive income attributable to common equity $ 913 $ 585
v3.26.1
Condensed Consolidated Statement of Equity (Unaudited) - USD ($)
$ in Thousands
Common Stock
Additional Paid-In-Capital
Retained Earnings
Accumulated Other Comprehensive Income
Total Common Equity
Noncontrolling Interests in Subsidiaries
Total
Balance at Oct. 31, 2024 $ 75 $ 32,253 $ 541 $ 494 $ 33,363 $ (7,179) $ 26,184
Balance (in Shares) at Oct. 31, 2024 7,463            
Distributions to noncontrolling interests in subsidiaries         (440) (440)
Net income (loss)     614   614 (113) 501
Dividends declared     (597)   (597)   (597)
Net unrealized loss on interest rate swap contract       (42) (42) (42)
Net unrealized gain on investment in U.S. Treasury securities available-for-sale       13 13 13
Balance at Jan. 31, 2025 $ 75 32,253 558 465 33,351 (7,732) 25,619
Balance (in Shares) at Jan. 31, 2025 7,463            
Balance at Oct. 31, 2025 $ 75 32,393 1,360 211 34,039 (8,336) 25,703
Balance (in Shares) at Oct. 31, 2025 7,471            
Distributions to noncontrolling interests in subsidiaries         (360) (360)
Net income (loss)     943   943 (141) 802
Dividends declared     (747)   (747) (747)
Net unrealized loss on interest rate swap contract       (30) (30) (30)
Balance at Jan. 31, 2026 $ 75 $ 32,393 $ 1,556 $ 181 $ 34,205 $ (8,837) $ 25,368
Balance (in Shares) at Jan. 31, 2026 7,471            
v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Operating activities:    
Net income (loss) $ 802 $ 501
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 721 723
Amortization 232 148
Loss (income) on investment in tenancy-in-common 1 (9)
Deferred rents - straight line rent 9 28
Bad debt expense 4 26
Accreted interest on investment in U.S. Treasury securities (138) (257)
Changes in operating assets and liabilities:    
Tenants' security accounts 13 (21)
Accounts receivable, prepaid expenses and other assets (97) (122)
Accounts payable and accrued expenses 33 463
Deferred revenue (234) 39
Net cash provided by operating activities 1,346 1,519
Investing activities:    
Purchase of U.S. Treasury securities (11,356) (11,511)
Proceeds from maturities of U.S. Treasury securities 12,376 13,543
Capital improvements - existing properties (72) (299)
Deferred leasing costs (37) (12)
Distribution from investment in tenancy-in-common 130
Net cash provided by investing activities 911 1,851
Financing activities:    
Repayment of mortgages (463) (494)
Deferred financing costs (122) (88)
Dividends paid (747) (5,224)
Distributions to noncontrolling interests in subsidiaries (360) (440)
Net cash used in financing activities (1,692) (6,246)
Net increase (decrease) in cash, cash equivalents and restricted cash 565 (2,876)
Cash, cash equivalents and restricted cash, beginning of period 21,528 19,223
Cash, cash equivalents and restricted cash, end of period 22,093 16,347
Supplemental disclosure of cash flow data:    
Interest paid 1,649 1,751
Investing activities:    
Accrued capital expenditures, construction costs and pre-development costs 46 30
Financing activities:    
Dividends declared but not paid 747 597
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets:    
Cash and cash equivalents 18,503 11,900
Tenants' security accounts 810 902
Mortgage escrows (included in prepaid expenses and other assets) 2,780 3,545
Total cash, cash equivalents and restricted cash $ 22,093 $ 16,347
v3.26.1
Basis of Presentation
 3 Months Ended
Jan. 31, 2026
Basis of Presentation [Abstract]  
Basis of presentation

Note 1 - Basis of presentation:

 

First Real Estate Investment Trust of New Jersey was organized on November 1, 1961 as a New Jersey Business Trust. On July 1, 2021, First Real Estate Investment Trust of New Jersey completed the change of its form of organization from a New Jersey real estate investment trust to a Maryland corporation. First Real Estate Investment Trust of New Jersey, Inc. (“FREIT”, “Trust”, “us”, “we”, “our” or the “Company”) is a Maryland corporation.

 

FREIT is organized and will continue to operate in such a manner as to qualify for taxation as a REIT under the Internal Revenue Code of 1986, as amended, and its stock is traded on the over-the-counter market under the trading symbol FREVS.

 

The accompanying interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and pursuant to the rules of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnotes required by GAAP for complete financial statements have been omitted. It is the opinion of management that all adjustments considered necessary for a fair presentation have been included, and that all such adjustments are of a normal recurring nature.

 

The consolidated results of operations for the three-month period ended January 31, 2026 are not necessarily indicative of the results to be expected for the full year or any other period. The unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in FREIT’s Annual Report on Form 10-K for the year ended October 31, 2025.
v3.26.1
Recently Issued Accounting Standards
 3 Months Ended
Jan. 31, 2026
Recently issued accounting standards [Abstract]  
Recently issued accounting standards

Note 2 – Recently issued accounting standards:

 

In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 requires entities to disclose additional information with respect to the effective tax rate reconciliation and to disclose the disaggregation by jurisdiction of income tax expense and income taxes paid. This update is effective for annual periods beginning after December 15, 2024. The adoption of this standard will only impact disclosures and will have no material impact on the Company’s consolidated financial statements.

 

In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”), and in January 2025, the FASB issued ASU 2025-01, “Income Statement – Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date” ("ASU 2025-01"). ASU 2024-03 requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions presented in the income statement. ASU 2024-03, as clarified by ASU 2025-01, is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. We are currently evaluating the impact of these standards on our consolidated financial statements.
v3.26.1
Dividends and Earnings Per Share
 3 Months Ended
Jan. 31, 2026
Dividends and Earnings Per Share [Abstract]  
Dividends and earnings per share

Note 3 – Dividends and earnings per share:

 

On January 15, 2026, FREIT’s Board of Directors (“Board”) declared a dividend of approximately $747,000 ($0.10 per share on the common stock of FREIT) for the first quarter of Fiscal 2026, which was paid on March 13, 2026 to stockholders of record at the close of business on February 27, 2026.

 

Basic earnings per share is calculated by dividing net income attributable to common equity (numerator) by the weighted average number of shares 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 increasing the number of shares to be added in computing diluted earnings per share.

 

For the three months ended January 31, 2026 and 2025, only basic earnings per share is presented since there are no outstanding stock options or other diluted securities.
v3.26.1
Fair Value Measurements
 3 Months Ended
Jan. 31, 2026
Fair Value Measurements [Abstract]  
Fair Value Measurements

Note 4 – Fair Value Measurements: 

 

Financial assets that are measured at fair value on our condensed consolidated balance sheets consist of (i) investments in U.S. Treasury securities (classified as available for sale) and (ii) an interest rate swap contract.

 

In accordance with ASC Topic 320, “Investments – Debt Securities”, FREIT is accounting for the investments in U.S. Treasury securities classified as available for sale in the amount of approximately $17,292,000 and $18,174,000, as of January 31, 2026 and October 31, 2025, respectively, at fair value. Since these available for sale securities are being issued at a discount, the discount is being accreted over the term of the U.S. Treasury securities and recognized as investment income on the condensed consolidated statements of income and reflected as accreted interest in the condensed consolidated statements of cash flows. For the three months ended January 31, 2026 and 2025, this amounted to approximately $138,000 and $257,000, respectively. Any changes in the value of these securities are recorded as an unrealized gain or loss in other comprehensive income. Upon sale, the realized gain or loss related to these investments is recognized in investment income in the condensed consolidated statements of income. For the three months ended January 31, 2026 and 2025, FREIT recorded an unrealized gain of approximately $0 and $13,000, respectively, in the condensed consolidated statements of comprehensive income representing the change in the fair value of these available for sale investments in U.S. Treasury securities during such periods. The fair values are based on quoted market prices (level 1 in the fair value hierarchy as provided by authoritative guidance).

 

In accordance with “Accounting Standards Codification Topic 815, Derivatives and Hedging ("ASC 815")”, FREIT has been accounting for the FREIT Regency, LLC (“Regency”) and Station Place on Monmouth (“Station Place”) interest rate swap contracts 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. On December 15, 2024, the Regency loan and its corresponding interest rate swap contract matured with no settlement due at maturity. (See Note 7 for further details.) For the three months ended January 31, 2026 and 2025, FREIT recorded an unrealized loss of approximately $30,000 and $42,000, respectively, in the condensed consolidated statements of comprehensive income representing the change in the fair value of these cash flow hedges during such periods. As of January 31, 2026 and October 31, 2025, there was an asset of approximately $180,000 and $210,000, respectively for the Station Place swap. The fair values are based on observable inputs (level 2 in the fair value hierarchy as provided by authoritative guidance).

v3.26.1
Investment in Tenancy-In-Common
 3 Months Ended
Jan. 31, 2026
Investment in Tenancy-in-Common [Abstract]  
Investment in Tenancy-In-common

Note 5 – Investment in tenancy-in-common:

 

On February 28, 2020, FREIT reorganized 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% partnership 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. Pursuant to the TIC agreement, FREIT has a 65% undivided interest in the Pierre Towers property. FREIT does not have a controlling interest as the TIC is under joint control. Based on the guidance of ASC 810, “Consolidation”, FREIT’s investment in the TIC is accounted for under the equity method of accounting.

 

FREIT’s investment in the TIC was approximately $16.9 million at both January 31, 2026 and October 31, 2025. For the three months ended January 31, 2026 and 2025, FREIT recognized a loss on investment in TIC of approximately $1,000 and income of approximately $9,000, respectively, in the accompanying condensed consolidated statements of income.

 

Hekemian & Co., Inc. (“Hekemian & Co.”) manages the Pierre Towers property pursuant to a management agreement between the owners of the TIC and Hekemian & Co. dated as of February 28, 2020, which renews for successive one (1) year terms unless either party gives written notice of termination to the other party at least sixty (60) days prior to the end of the then-current term. The management agreement expires on February 28, 2027.

 

The management agreement requires the payment of management fees equal to 5% of rents collected. Management fees, charged to operations, were approximately $107,000 and $122,000 for the three months ended January 31, 2026 and 2025, respectively. The Pierre Towers property also uses the resources of the Hekemian & Co. insurance department to secure various insurance coverages for its property. Hekemian & Co. is paid a commission for these services. There were no such commissions charged to operations for the three months ended January 31, 2026 and 2025.

 

The following table summarizes the balance sheets of the Pierre Towers property as of January 31, 2026 and October 31, 2025, accounted for by the equity method:

 

   January 31,   October 31, 
   2026   2025 
   (In Thousands of Dollars) 
         
Real estate, net $71,654  $71,928 
Cash and cash equivalents  464   335 
Tenants' security accounts  593   563 
Receivables and other assets  486   575 
Total assets $73,197  $73,401 
           
Mortgages payable, net of unamortized debt issuance costs $45,870  $46,173 
Accounts payable and accrued expenses  581   480 
Tenants' security deposits  590   562 
Deferred revenue  124   152 
Equity  26,032   26,034 
Total liabilities & equity $73,197  $73,401 
           
FREIT's investment in TIC (65% interest) $16,921  $16,922 

 

The following table summarizes the statements of operations of the Pierre Towers property for the three months ended January 31, 2026 and 2025, accounted for by the equity method:

 

   Three Months Ended January 31, 
   2026   2025 
   (In Thousands of Dollars) 
         
Revenue $2,217  $2,177 
Operating expenses  1,248   1,237 
Depreciation  603   562 
Operating income  366   378 
           
Interest income  6   19 
Interest expense including amortization of deferred financing costs  (374)  (383)
           
Net (loss) income $(2) $14 
           
FREIT's share of (loss) income on investment in TIC (65% interest) $(1) $9 
v3.26.1
Management Agreement, Fees and Transactions with Related Party
 3 Months Ended
Jan. 31, 2026
Management Agreement, Fees and Transactions with Related Party [Abstract]  
Management agreement, fees and transactions with related party

Note 6 - Management agreement, fees and transactions with related party:

 

Hekemian & Co. currently manages all of the properties owned by FREIT and its affiliates. The management agreement between FREIT and Hekemian & Co. dated as of November 1, 2001 (“Management Agreement”) has been renewed and will expire on October 31, 2027. The Management Agreement is automatically renewed for successive periods of two years unless either party gives not less than six (6) months prior notice of non-renewal.

 

The Management Agreement requires the payment of management fees equal to 4% to 5% of rents collected. Such fees charged to operations were approximately $345,000 and $368,000 for the three months ended January 31, 2026 and 2025, respectively. In addition, the Management Agreement provides for the payment to Hekemian & Co. of leasing commissions, as well as the reimbursement of certain operating expenses, such as payroll and insurance costs, incurred on behalf of FREIT. Such commissions and reimbursements amounted to approximately $130,000 and $93,000 for the three months ended January 31, 2026 and 2025, respectively. FREIT also uses the resources of the Hekemian & Co. insurance department to secure various insurance coverages for its properties and subsidiaries. Hekemian & Co. is paid a commission for these services. Such commissions charged to operations were approximately $34,000 and $9,000 for the three months ended January 31, 2026 and 2025, respectively.

 

From time to time, FREIT engages Hekemian & Co., or certain affiliates of Hekemian & Co., 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 & Co. and FREIT with respect to such additional services. Such fees incurred for the three months ended January 31, 2026 and 2025 were approximately $0 and $35,000, respectively. Fees incurred during the three months ended January 31, 2025 related to a commission to Hekemian & Co. for the modification and extension of the loan on the Regency which was included in the unamortized debt issuance costs in the accompanying condensed consolidated balance sheets as of January 31, 2026 and October 31, 2025.

 

Robert S. Hekemian, Jr., Chief Executive Officer, President and a Director of FREIT, is the Chief Executive Officer of Hekemian & Co. David B. Hekemian, a Director of FREIT, is the President of Hekemian & Co. Allan Tubin, Chief Financial Officer and Treasurer of FREIT, is the Chief Financial Officer of Hekemian & Co. Director fee expense and/or executive compensation incurred by FREIT for the three months ended January 31, 2026 and 2025 was approximately $165,000 and $165,000, respectively, for Robert S. Hekemian, Jr., $11,000 and $11,000, respectively, for Allan Tubin and $15,000 and $15,000, respectively, for David B. Hekemian. Such costs are included within operating expenses on the accompanying condensed consolidated statements of income.

v3.26.1
Mortgages Payable and Line of Credit
 3 Months Ended
Jan. 31, 2026
Mortgages Payable and Line of Credit [Abstract]  
Mortgages payable and line of credit

Note 7 – Mortgages payable and line of credit:

 

The following table is a summary of mortgages payable as of January 31, 2026 and October 31, 2025:

 

      Interest Rate at   Mortgages Payable as of 
Mortgages Secured By:  Maturity  January 31, 2026   January 31, 2026   October 31, 2025 
          (In Thousands of Dollars) 
Steuben Arms - River Edge, NJ 5/31/2027  6.75%  $8,691  $8,715 
Berdan Court - Wayne, NJ 9/1/2029  3.54%   28,054   28,190 
Westwood Hills - Westwood, NJ 9/1/2026  6.05%   24,717   24,803 
Regency Club - Middletown, NY (A) 12/15/2027  6.05%   13,712   13,754 
Station Place - Red Bank, NJ 12/15/2027  4.35%   10,966   11,030 
Westwood Plaza - Westwood, NJ (B) 5/1/2026  8.50%   9,697   9,808 
Preakness S/C - Wayne, NJ (C) 5/1/2026  5.00%   25,000   25,000 
Total fixed rate mortgages payable        120,837   121,300 
Total unamortized debt issuance costs        (426)  (516)
Total mortgages payable, net       $120,411  $120,784 

 

(A)On December 15, 2024, the mortgage secured by an apartment building located in Middletown, New York and the corresponding interest rate swap contract on its underlying loan came due with no settlement of the swap contract due at maturity. Effective December 15, 2024, FREIT Regency, LLC entered into a loan extension and modification agreement with the lender of this loan, Provident Bank, with a then outstanding loan balance of approximately $13.9 million. Under the terms and conditions of this loan extension and modification, the maturity date of this loan is extended for three years to December 15, 2027, the interest rate on the outstanding debt is based on a fixed interest rate of 6.05% and monthly installments of principal and interest of approximately $84,521 are required.

 

(B)On October 31, 2023, FREIT exercised its right, pursuant to the loan agreement held with Valley National Bank, to extend the term of its loan with a then outstanding balance of approximately $16.6 million and secured by the Westwood Plaza shopping center located in Westwood, New Jersey for one additional year from an initial maturity date of February 1, 2024 to a new maturity date of February 1, 2025. This loan extension was based on a fixed interest rate of 8.5% and was payable based on monthly installments of principal and interest of approximately $166,727. Additionally, FREIT funded the interest reserve escrow account for this loan (“Escrow”) with an additional $112,556, increasing the Escrow balance to $2,000,722, which represented the annualized principal and interest payments for one (1) year under this loan extension. Effective February 1, 2025, Valley National Bank extended this loan for 90 days from a maturity date of February 1, 2025 to a maturity date of May 1, 2025 under the same terms and conditions of the existing loan agreement.

 

Effective May 1, 2025, FREIT entered into a loan extension and modification agreement with Valley National Bank and paid down this loan by approximately $5.7 million (including deferred interest of approximately $0.2 million) bringing the loan balance to $10 million. Under the terms and conditions of this loan extension and modification, the maturity date of this loan is extended for one year to May 1, 2026, the interest rate on the outstanding debt is based on a fixed interest rate of 8.5% and monthly installments of principal and interest of approximately $107,978 are required. Additionally, the Escrow balance was reduced from $2,000,722 to $1,295,739 resulting in a refund to FREIT of $704,983. This Escrow is held at Valley National Bank and in the event of a default on this loan, the bank shall be permitted to use the proceeds from the Escrow to make monthly debt service payments on the loan.

 

(C)On August 1, 2025, the mortgage secured by the Preakness Shopping center located in Wayne, New Jersey, reached its maturity date. Wayne PSC, LLC continues to work with the current lender, ConnectOne Bank, on a potential modification

  and extension of the loan. ConnectOne Bank has issued several extensions of the loan’s maturity date, with the most recent extension through May 1, 2026, while discussions are ongoing. Each extension has been made under the same terms and conditions of the existing loan agreement. Wayne PSC, LLC continues to evaluate all options for refinancing or replacing the loan. Management expects this loan to be further extended, however, until such time as a definitive agreement providing for a modification, extension or replacement of this loan is entered into, there can be no assurance that such an agreement will be reached.

 

FREIT’s revolving line of credit provided by Provident Bank was renewed for a three-year term ending on October 31, 2026. Draws against the credit line can be used for working capital needs and standby letters of credit. Draws against the credit line are secured by mortgages on FREIT’s Franklin Crossing Shopping center in Franklin Lakes, New Jersey and retail space in Glen Rock, New Jersey. The total line of credit is $13 million and the interest rate on the amount outstanding is based on a floating interest rate of prime minus 25 basis points with a floor of 6.75%. As of January 31, 2026 and October 31, 2025, there was no amount outstanding and $13 million was available under the line of credit.

 

While FREIT intends to renew or refinance its debt obligations as they become due, there can be no assurance that it will be successful or, if successful, that the new terms will be similar to the terms of its existing debt obligations or as favorable.

 

Principal amounts (in thousands of dollars) due under the above obligations in each of the next five years ending October 31, is as follows:

 

Year Ending
October 31,		  Amount 
2026 $60,618(a)
2027  9,655 
2028  24,521 
2029  26,506 
2030  — 

 

(a)Includes the following:

 

(1)The loan on the Preakness shopping center located in Wayne, New Jersey in the amount of $25 million, which had a maturity date of August 1, 2025 and was further extended. Wayne PSC, LLC continues to work with the current lender, ConnectOne Bank, on a potential modification and extension of the loan. ConnectOne Bank has issued several extensions of the loan’s maturity date, with the most recent extension through May 1, 2026, while discussions are ongoing. Each extension has been made under the same terms and conditions of the existing loan agreement. Wayne PSC, LLC continues to evaluate all options for refinancing or replacing the loan. Management expects this loan to be further extended, however, until such time as a definitive agreement providing for a modification, extension or replacement of this loan is entered into, there can be no assurance that such an agreement will be reached.

 

(2)The loan on the Westwood Plaza shopping center located in Westwood, New Jersey, in the amount of approximately $9.6 million which has a maturity date of May 1, 2026. Management expects this loan to be extended/refinanced, however, until such time as a definitive agreement providing for a modification, extension or replacement of this loan is entered into, there can be no assurance that such an agreement will be reached.

 

(3)The loan on the Westwood Hills property located in Westwood, New Jersey, in the amount of approximately $24.5 million which has a maturity date of September 1, 2026. Management expects this loan to be extended/refinanced, however, until such time as a definitive agreement providing for a modification, extension or replacement of this loan is entered into, there can be no assurance that such an agreement will be reached.

Fair value of long-term debt:

 

The following table shows the estimated fair value and net carrying value of FREIT’s long-term debt at January 31, 2026 and October 31, 2025:

  

($ in Millions)   January 31, 2026   October 31, 2025
         
Fair Value $117.8 $118.4
Carrying Value, Net $120.4 $120.8

 

Fair values are estimated based on market interest rates at January 31, 2026 and October 31, 2025 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).
v3.26.1
Segment Information
 3 Months Ended
Jan. 31, 2026
Segment Information [Abstract]  
Segment information

Note 8 - Segment information:

 

ASC 280-10, "Disclosures about Segments of an Enterprise and Related Information", establishes standards for reporting financial information about operating segments in interim and annual financial reports and provides for a "management approach" in identifying the reportable segments. 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 five (5) properties and the residential segment is comprised of six (6) properties.

 

The accounting policies of the segments are the same as those described in Note 1 in FREIT’s Annual Report on Form 10-K for the fiscal year ended October 31, 2025. The chief operating and decision-making group responsible for oversight and strategic decisions of FREIT's commercial segment, residential segment and corporate/other is comprised of FREIT’s Board.

 

FREIT, through its chief operating and decision-making group, 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 GAAP, 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 condensed consolidated net income attributable to common equity for the three months ended January 31, 2026 and 2025. Asset information is not reported since FREIT does not use this measure to assess performance.

 

   Three Months Ended 
   January 31, 
   2026   2025 
   (In Thousands of Dollars) 
Real estate rental revenue:          
Commercial $1,958  $1,934 
Residential  5,555   5,363 
Total real estate rental revenue  7,513   7,297 
           
Real estate operating expenses:          
Commercial  1,349   1,367 
Residential  2,341   2,369 
Total real estate operating expenses  3,690   3,736 
           
Net operating income:          
Commercial  609   567 
Residential  3,214   2,994 
Total net operating income $3,823  $3,561 
           
           
Recurring capital improvements - residential $(62) $(77)
           
           
Reconciliation to condensed consolidated net income attributable to common equity:          
Segment NOI $3,823  $3,561 
Deferred rents - straight lining  (9)  (28)
Investment income  284   400 
General and administrative expenses  (713)  (845)
(Loss) income on investment in tenancy-in-common  (1)  9 
Depreciation  (721)  (723)
Financing costs  (1,861)  (1,873)
Net income  802   501 
Net loss attributable to noncontrolling interests in subsidiaries  141   113 
Net income attributable to common equity $943  $614 
v3.26.1
Income Taxes
 3 Months Ended
Jan. 31, 2026
Income Taxes [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 at least 90% of its ordinary taxable income (to maintain its status as a REIT) to its stockholders as dividends for the fiscal year ending October 31, 2026. For the fiscal year ended October 31, 2025, FREIT has distributed 100% of its ordinary taxable income to its stockholders as dividends. Accordingly, no provision for federal or state income taxes was recorded in FREIT’s condensed consolidated financial statements for the three months ended January 31, 2026 and 2025.

 

As of January 31, 2026, FREIT had no material uncertain income tax positions. The tax years subsequent to and including the fiscal year ended October 31, 2022 remain open to examination by the major taxing jurisdictions.

v3.26.1
Equity Incentive Plan
 3 Months Ended
Jan. 31, 2026
Equity Incentive Plan [Abstract]  
Equity Incentive Plan

Note 10 – Equity Incentive Plan:

 

On February 20, 2025, in accordance with FREIT’s Equity Incentive Plan (the “Plan”), the Compensation Committee of FREIT’s Board recommended to the Board and the Board approved that for services rendered and to be rendered in Fiscal 2025, in lieu of cash compensation in the amount of $20,000, each director was awarded shares of Common Stock, $0.01 par value, (the “Shares”) in FREIT. Based on the closing price of FREIT’s Shares on February 21, 2025 of $16.76 per Share, the Board approved an award of 1,193 Shares of FREIT to each director serving on FREIT’s Board. As such, 1,193 Shares were issued to each director on February 20, 2025 and upon issuance were deemed fully paid and non-assessable.

 

On March 12, 2026, in accordance with the Plan, the Compensation Committee of FREIT’s Board recommended to the Board and the Board approved that for services rendered and to be rendered in Fiscal 2026, in lieu of cash compensation in the amount of $20,000, each director was awarded shares of Common Stock, $0.01 par value, (the “Shares”) in FREIT. Based on the closing price of FREIT’s Shares on March 12, 2026 of $12.62 per Share, the Board approved an award of 1,584 Shares of FREIT to each director serving on FREIT’s Board. As such, 1,584 Shares were issued to each director on March 12, 2026 and upon issuance were deemed fully paid and non-assessable.

 

As of January 31, 2026, 419,709 shares are available for issuance under the Plan.

v3.26.1
Rental Income
 3 Months Ended
Jan. 31, 2026
Rental Income [Abstract]  
Rental Income

Note 11 – Rental Income:

 

Commercial tenants:

 

Fixed lease income under our commercial operating leases generally includes fixed minimum lease consideration, which is 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-cancelable tenant operating leases for each of the next five years and thereafter, excluding variable lease consideration and rents from tenants for which collectability is deemed to be constrained, for the years ending October 31, as of January 31, 2026, is as follows:

 

Year Ending October 31,  Amount 
2026 $5,334 
2027  4,435 
2028  3,307 
2029  3,019 
2030  2,837 
Thereafter  3,653 
Total $22,585 

 

The above amounts assume that all leases that expire are not renewed and, accordingly, neither month-to-month 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 the three months ended January 31, 2026 and 2025 were not material.

 

Residential tenants:

 

Lease terms for residential tenants are generally for one to two years in term.

v3.26.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Pay vs Performance Disclosure    
Net Income (Loss) $ 943 $ 614
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Jan. 31, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
Investment in Tenancy-in-Common (Tables)
 3 Months Ended
Jan. 31, 2026
Investment in Tenancy-in-Common [Abstract]  
Schedule of Balance Sheets of the Pierre Towers Property

The following table summarizes the balance sheets of the Pierre Towers property as of January 31, 2026 and October 31, 2025, accounted for by the equity method:

 

   January 31,   October 31, 
   2026   2025 
   (In Thousands of Dollars) 
         
Real estate, net $71,654  $71,928 
Cash and cash equivalents  464   335 
Tenants' security accounts  593   563 
Receivables and other assets  486   575 
Total assets $73,197  $73,401 
           
Mortgages payable, net of unamortized debt issuance costs $45,870  $46,173 
Accounts payable and accrued expenses  581   480 
Tenants' security deposits  590   562 
Deferred revenue  124   152 
Equity  26,032   26,034 
Total liabilities & equity $73,197  $73,401 
           
FREIT's investment in TIC (65% interest) $16,921  $16,922 
Schedule of Statements of Operations of the Pierre Towers Property

The following table summarizes the statements of operations of the Pierre Towers property for the three months ended January 31, 2026 and 2025, accounted for by the equity method:

 

   Three Months Ended January 31, 
   2026   2025 
   (In Thousands of Dollars) 
         
Revenue $2,217  $2,177 
Operating expenses  1,248   1,237 
Depreciation  603   562 
Operating income  366   378 
           
Interest income  6   19 
Interest expense including amortization of deferred financing costs  (374)  (383)
           
Net (loss) income $(2) $14 
           
FREIT's share of (loss) income on investment in TIC (65% interest) $(1) $9 
v3.26.1
Mortgages Payable and Line of Credit (Tables)
 3 Months Ended
Jan. 31, 2026
Mortgages Payable and Line of Credit [Abstract]  
Schedule of Mortgages Payable and Line of Credit

The following table is a summary of mortgages payable as of January 31, 2026 and October 31, 2025:

 

      Interest Rate at   Mortgages Payable as of 
Mortgages Secured By:  Maturity  January 31, 2026   January 31, 2026   October 31, 2025 
          (In Thousands of Dollars) 
Steuben Arms - River Edge, NJ 5/31/2027  6.75%  $8,691  $8,715 
Berdan Court - Wayne, NJ 9/1/2029  3.54%   28,054   28,190 
Westwood Hills - Westwood, NJ 9/1/2026  6.05%   24,717   24,803 
Regency Club - Middletown, NY (A) 12/15/2027  6.05%   13,712   13,754 
Station Place - Red Bank, NJ 12/15/2027  4.35%   10,966   11,030 
Westwood Plaza - Westwood, NJ (B) 5/1/2026  8.50%   9,697   9,808 
Preakness S/C - Wayne, NJ (C) 5/1/2026  5.00%   25,000   25,000 
Total fixed rate mortgages payable        120,837   121,300 
Total unamortized debt issuance costs        (426)  (516)
Total mortgages payable, net       $120,411  $120,784 

 

(A)On December 15, 2024, the mortgage secured by an apartment building located in Middletown, New York and the corresponding interest rate swap contract on its underlying loan came due with no settlement of the swap contract due at maturity. Effective December 15, 2024, FREIT Regency, LLC entered into a loan extension and modification agreement with the lender of this loan, Provident Bank, with a then outstanding loan balance of approximately $13.9 million. Under the terms and conditions of this loan extension and modification, the maturity date of this loan is extended for three years to December 15, 2027, the interest rate on the outstanding debt is based on a fixed interest rate of 6.05% and monthly installments of principal and interest of approximately $84,521 are required.

 

(B)On October 31, 2023, FREIT exercised its right, pursuant to the loan agreement held with Valley National Bank, to extend the term of its loan with a then outstanding balance of approximately $16.6 million and secured by the Westwood Plaza shopping center located in Westwood, New Jersey for one additional year from an initial maturity date of February 1, 2024 to a new maturity date of February 1, 2025. This loan extension was based on a fixed interest rate of 8.5% and was payable based on monthly installments of principal and interest of approximately $166,727. Additionally, FREIT funded the interest reserve escrow account for this loan (“Escrow”) with an additional $112,556, increasing the Escrow balance to $2,000,722, which represented the annualized principal and interest payments for one (1) year under this loan extension. Effective February 1, 2025, Valley National Bank extended this loan for 90 days from a maturity date of February 1, 2025 to a maturity date of May 1, 2025 under the same terms and conditions of the existing loan agreement.

 

Effective May 1, 2025, FREIT entered into a loan extension and modification agreement with Valley National Bank and paid down this loan by approximately $5.7 million (including deferred interest of approximately $0.2 million) bringing the loan balance to $10 million. Under the terms and conditions of this loan extension and modification, the maturity date of this loan is extended for one year to May 1, 2026, the interest rate on the outstanding debt is based on a fixed interest rate of 8.5% and monthly installments of principal and interest of approximately $107,978 are required. Additionally, the Escrow balance was reduced from $2,000,722 to $1,295,739 resulting in a refund to FREIT of $704,983. This Escrow is held at Valley National Bank and in the event of a default on this loan, the bank shall be permitted to use the proceeds from the Escrow to make monthly debt service payments on the loan.

 

(C)On August 1, 2025, the mortgage secured by the Preakness Shopping center located in Wayne, New Jersey, reached its maturity date. Wayne PSC, LLC continues to work with the current lender, ConnectOne Bank, on a potential modification

  and extension of the loan. ConnectOne Bank has issued several extensions of the loan’s maturity date, with the most recent extension through May 1, 2026, while discussions are ongoing. Each extension has been made under the same terms and conditions of the existing loan agreement. Wayne PSC, LLC continues to evaluate all options for refinancing or replacing the loan. Management expects this loan to be further extended, however, until such time as a definitive agreement providing for a modification, extension or replacement of this loan is entered into, there can be no assurance that such an agreement will be reached.
Schedule of Principal Amounts

Principal amounts (in thousands of dollars) due under the above obligations in each of the next five years ending October 31, is as follows:

 

Year Ending
October 31,		  Amount 
2026 $60,618(a)
2027  9,655 
2028  24,521 
2029  26,506 
2030  — 

 

(a)Includes the following:

 

(1)The loan on the Preakness shopping center located in Wayne, New Jersey in the amount of $25 million, which had a maturity date of August 1, 2025 and was further extended. Wayne PSC, LLC continues to work with the current lender, ConnectOne Bank, on a potential modification and extension of the loan. ConnectOne Bank has issued several extensions of the loan’s maturity date, with the most recent extension through May 1, 2026, while discussions are ongoing. Each extension has been made under the same terms and conditions of the existing loan agreement. Wayne PSC, LLC continues to evaluate all options for refinancing or replacing the loan. Management expects this loan to be further extended, however, until such time as a definitive agreement providing for a modification, extension or replacement of this loan is entered into, there can be no assurance that such an agreement will be reached.

 

(2)The loan on the Westwood Plaza shopping center located in Westwood, New Jersey, in the amount of approximately $9.6 million which has a maturity date of May 1, 2026. Management expects this loan to be extended/refinanced, however, until such time as a definitive agreement providing for a modification, extension or replacement of this loan is entered into, there can be no assurance that such an agreement will be reached.

 

(3)The loan on the Westwood Hills property located in Westwood, New Jersey, in the amount of approximately $24.5 million which has a maturity date of September 1, 2026. Management expects this loan to be extended/refinanced, however, until such time as a definitive agreement providing for a modification, extension or replacement of this loan is entered into, there can be no assurance that such an agreement will be reached.
Schedule of Estimated Fair Value and Carrying Value of Freit’s Long-Term Debt

The following table shows the estimated fair value and net carrying value of FREIT’s long-term debt at January 31, 2026 and October 31, 2025:

  

($ in Millions)   January 31, 2026   October 31, 2025
         
Fair Value $117.8 $118.4
Carrying Value, Net $120.4 $120.8
v3.26.1
Segment Information (Tables)
 3 Months Ended
Jan. 31, 2026
Segment Information [Abstract]  
Schedule of Consolidated Net Income Attributable to Common Equity Asset information is not reported since FREIT does not use this measure to assess performance.
   Three Months Ended 
   January 31, 
   2026   2025 
   (In Thousands of Dollars) 
Real estate rental revenue:          
Commercial $1,958  $1,934 
Residential  5,555   5,363 
Total real estate rental revenue  7,513   7,297 
           
Real estate operating expenses:          
Commercial  1,349   1,367 
Residential  2,341   2,369 
Total real estate operating expenses  3,690   3,736 
           
Net operating income:          
Commercial  609   567 
Residential  3,214   2,994 
Total net operating income $3,823  $3,561 
           
           
Recurring capital improvements - residential $(62) $(77)
           
           
Reconciliation to condensed consolidated net income attributable to common equity:          
Segment NOI $3,823  $3,561 
Deferred rents - straight lining  (9)  (28)
Investment income  284   400 
General and administrative expenses  (713)  (845)
(Loss) income on investment in tenancy-in-common  (1)  9 
Depreciation  (721)  (723)
Financing costs  (1,861)  (1,873)
Net income  802   501 
Net loss attributable to noncontrolling interests in subsidiaries  141   113 
Net income attributable to common equity $943  $614 
v3.26.1
Rental Income (Tables)
 3 Months Ended
Jan. 31, 2026
Rental Income [Abstract]  
Schedule of Minimum Fixed Lease Consideration Under Non-Cancelable Tenant Operating Leases

Minimum fixed lease consideration (in thousands of dollars) under non-cancelable tenant operating leases for each of the next five years and thereafter, excluding variable lease consideration and rents from tenants for which collectability is deemed to be constrained, for the years ending October 31, as of January 31, 2026, is as follows:

 

Year Ending October 31,  Amount 
2026 $5,334 
2027  4,435 
2028  3,307 
2029  3,019 
2030  2,837 
Thereafter  3,653 
Total $22,585 
v3.26.1
Dividends and Earnings Per Share (Details)
 3 Months Ended
Jan. 31, 2026
USD ($)
$ / shares
Dividends and Earnings Per Share [Line Items]  
Dividends declared | $ $ 747,000
Dividends price per share (in Dollars per share) | $ / shares $ 0.1
v3.26.1
Fair Value Measurements (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Oct. 31, 2025
Fair Value Measurements [Line Items]      
Available for sale $ 17,292   $ 18,174
Accreted interest on investment in U.S. Treasury securities 138 $ 257  
Net unrealized loss on U.S. Treasury securities available-for-sale 13  
FREIT recorded an unrealized loss 30 $ 42  
Station Place swap [Member]      
Fair Value Measurements [Line Items]      
Fair value asset $ 180   $ 210
v3.26.1
Investment in Tenancy-in-Common (Details) - USD ($)
$ in Thousands
 3 Months Ended
Feb. 28, 2020
Jan. 31, 2026
Jan. 31, 2025
Oct. 31, 2025
Investment in Tenancy-In-Common [Line Items]        
Investment in tenancy-in-common   $ 16,921   $ 16,922
Loss on investment   $ 1 $ (9)  
Percentage of management fees of rent collected   5.00%    
Management fees   $ 345 368  
TIC Agreement [Member]        
Investment in Tenancy-In-Common [Line Items]        
Undivided interest 65.00%      
Investment in tenancy-in-common   16,900   $ 16,900
Pierre Towers [Member]        
Investment in Tenancy-In-Common [Line Items]        
Management fees   $ 107 $ 122  
Sand ACommercial Associates Limited Partnership Member [Member]        
Investment in Tenancy-In-Common [Line Items]        
Percentage of ownership interest   65.00%    
Pierre Towers Llc Member [Member]        
Investment in Tenancy-In-Common [Line Items]        
Percentage of ownership interest   100.00%    
Pierre Towers Property Member [Member]        
Investment in Tenancy-In-Common [Line Items]        
Percentage of ownership interest   100.00%    
v3.26.1
Investment in Tenancy-in-Common - Schedule of Balance Sheets of the Pierre Towers Property (Details) - USD ($)
$ in Thousands
Jan. 31, 2026
Oct. 31, 2025
Jan. 31, 2025
Oct. 31, 2024
Schedule of Balance Sheets of the Pierre Towers Property [Line Items]        
Real estate, net $ 88,788 $ 89,419    
Cash and cash equivalents 18,503 17,926 $ 11,900  
Tenants' security accounts 810 833    
Total Assets 148,997 149,874    
Mortgages payable, net of unamortized debt issuance costs 120,837 121,300    
Accounts payable and accrued expenses 717 665    
Tenants' security deposits 1,145 1,132    
Equity 25,368 25,703 $ 25,619 $ 26,184
Total Liabilities and Equity 148,997 149,874    
FREIT's investment in TIC (65% interest) 16,921 16,922    
Pierre Towers [Member]        
Schedule of Balance Sheets of the Pierre Towers Property [Line Items]        
Real estate, net 71,654 71,928    
Cash and cash equivalents 464 335    
Tenants' security accounts 593 563    
Receivables and other assets 486 575    
Total Assets 73,197 73,401    
Mortgages payable, net of unamortized debt issuance costs 45,870 46,173    
Accounts payable and accrued expenses 581 480    
Tenants' security deposits 590 562    
Deferred revenue 124 152    
Equity 26,032 26,034    
Total Liabilities and Equity 73,197 73,401    
FREIT's investment in TIC (65% interest) $ 16,921 $ 16,922    
v3.26.1
Investment in Tenancy-in-Common - Schedule of Balance Sheets of the Pierre Towers Property (Parentheticals) (Details)
Jan. 31, 2026
Oct. 31, 2025
Pierre Towers [Member]    
Schedule of Balance Sheets of the Pierre Towers Property [Line Items]    
Percentage of FREIT's investment in TIC 65.00% 65.00%
v3.26.1
Investment in Tenancy-in-Common - Schedule of Statements of Operations of the Pierre Towers Property (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Schedule of Statements of Operations of the Pierre Towers Property [Line Items]    
Revenue $ 7,504 $ 7,269
Operating expenses 5,124 5,304
Depreciation 721 723
Operating income 3,823 3,561
Interest income 284 400
Interest expense including amortization of deferred financing costs (1,861) (1,873)
Net income 802 501
FREIT's share of (loss) income on investment in TIC (65% interest) (1) 9
Pierre Towers [Member]    
Schedule of Statements of Operations of the Pierre Towers Property [Line Items]    
Revenue 2,217 2,177
Operating expenses 1,248 1,237
Depreciation 603 562
Operating income 366 378
Interest income 6 19
Interest expense including amortization of deferred financing costs (374) (383)
Net income (2) 14
FREIT's share of (loss) income on investment in TIC (65% interest) $ (1) $ 9
v3.26.1
Investment in Tenancy-in-Common - Schedule of Statements of Operations of the Pierre Towers Property (Parentheticals) (Details)
 3 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Pierre Towers [Member]    
Schedule of Statements of Operations of the Pierre Towers Property [Line Items]    
Percentage of FREIT's share of loss on investment in TIC 65.00% 65.00%
v3.26.1
Management Agreement, Fees and Transactions with Related Party (Details) - USD ($)
 3 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Management agreement, fees and transactions with related party [Line Items]    
Fees charged to operation $ 345,000 $ 368,000
Commissions and reimbursements 130,000 93,000
Fees incurred 0 35,000
Robert S. Hekemian, Jr. [Member]    
Management agreement, fees and transactions with related party [Line Items]    
Director fee expense 165,000 165,000
Allan Tubin [Member]    
Management agreement, fees and transactions with related party [Line Items]    
Director fee expense 11,000 11,000
David B. Hekemian [Member]    
Management agreement, fees and transactions with related party [Line Items]    
Director fee expense 15,000 15,000
Hekemian & Co [Member]    
Management agreement, fees and transactions with related party [Line Items]    
Commissions and reimbursements $ 34,000 $ 9,000
Minimum [Member] | Hekemian & Co [Member]    
Management agreement, fees and transactions with related party [Line Items]    
Management fees 4.00%  
Maximum [Member] | Hekemian & Co [Member]    
Management agreement, fees and transactions with related party [Line Items]    
Management fees 5.00%  
v3.26.1
Mortgages Payable and Line of Credit (Details) - USD ($)
 3 Months Ended 12 Months Ended
May 01, 2025
Feb. 01, 2025
Dec. 15, 2024
Oct. 31, 2023
Jan. 31, 2026
Oct. 31, 2025
Aug. 01, 2025
Mortgages Payable and Credit Line [Line Items]              
Outstanding balance $ 5,700,000            
Increasing the escrow balance       $ 2,000,722      
Deferred interest 200,000            
Loan balance $ 10,000,000            
Fixed interest rate percentage 8.50%            
Principal and interest amount $ 107,978            
Refund amount 704,983            
Outstanding loan balance     $ 13,900,000        
Line of credit, available         $ 13,000,000    
Outstanding balance on line of credit         $ 13,000,000  
Valley National Bank [Member]              
Mortgages Payable and Credit Line [Line Items]              
Fixed interest rate       8.50%      
Monthly installments of principal       $ 166,727      
Term of the loan   1 year          
Repayment of loan       16,600,000      
FREIT [Member]              
Mortgages Payable and Credit Line [Line Items]              
FREIT additional funded       $ 112,556      
Maturity date of loan         Oct. 31, 2026    
Basis points, interest rate         6.75%    
Middletown, NY Mortgage [Member]              
Mortgages Payable and Credit Line [Line Items]              
Fixed interest rate     6.05%        
Monthly installments of principal     $ 84,521        
Westwood Hills [Member]              
Mortgages Payable and Credit Line [Line Items]              
Loan amount         $ 24,500,000    
Preakness shopping center [Member]              
Mortgages Payable and Credit Line [Line Items]              
Loan amount             $ 25,000,000
Westwood Plaza shopping center [Member]              
Mortgages Payable and Credit Line [Line Items]              
Loan amount         $ 9,600,000    
Maximum [Member] | Valley National Bank [Member]              
Mortgages Payable and Credit Line [Line Items]              
Escrow balance 2,000,722            
Minimum [Member] | Valley National Bank [Member]              
Mortgages Payable and Credit Line [Line Items]              
Escrow balance $ 1,295,739            
v3.26.1
Mortgages Payable and Line of Credit - Schedule of Mortgages Payable and Line of Credit (Details) - Mortgages [Member] - USD ($)
$ in Thousands
Jan. 31, 2026
Oct. 31, 2025
Schedule of Mortgages Payable [Line Items]    
Total unamortized debt issuance costs $ (426) $ (516)
Total mortgages payable, net $ 120,411 120,784
Steuben Arms - River Edge, NJ [Member]    
Schedule of Mortgages Payable [Line Items]    
Maturity May 31, 2027  
Interest Rate 6.75%  
Total fixed rate mortgages payable $ 8,691 8,715
Berdan Court - Wayne, NJ [Member]    
Schedule of Mortgages Payable [Line Items]    
Maturity Sep. 01, 2029  
Interest Rate 3.54%  
Total fixed rate mortgages payable $ 28,054 28,190
Westwood Hills - Westwood, NJ [Member]    
Schedule of Mortgages Payable [Line Items]    
Maturity Sep. 01, 2026  
Interest Rate 6.05%  
Total fixed rate mortgages payable $ 24,717 24,803
Regency Club - Middletown, NY [Member]    
Schedule of Mortgages Payable [Line Items]    
Maturity [1] Dec. 15, 2027  
Interest Rate [1] 6.05%  
Total fixed rate mortgages payable [1] $ 13,712 13,754
Station Place - Red Bank, NJ [Member]    
Schedule of Mortgages Payable [Line Items]    
Maturity Dec. 15, 2027  
Interest Rate 4.35%  
Total fixed rate mortgages payable $ 10,966 11,030
Westwood Plaza - Westwood, NJ [Member]    
Schedule of Mortgages Payable [Line Items]    
Maturity May 01, 2026  
Interest Rate 8.50%  
Total fixed rate mortgages payable $ 9,697 9,808
Preakness S/C - Wayne, NJ[Member]    
Schedule of Mortgages Payable [Line Items]    
Maturity May 01, 2026  
Interest Rate 5.00%  
Total fixed rate mortgages payable $ 25,000 25,000
Fixed Rate Mortgages Payable [Member]    
Schedule of Mortgages Payable [Line Items]    
Total fixed rate mortgages payable $ 120,837 $ 121,300
[1] On December 15, 2024, the mortgage secured by an apartment building located in Middletown, New York and the corresponding interest rate swap contract on its underlying loan came due with no settlement of the swap contract due at maturity. Effective December 15, 2024, FREIT Regency, LLC entered into a loan extension and modification agreement with the lender of this loan, Provident Bank, with a then outstanding loan balance of approximately $13.9 million. Under the terms and conditions of this loan extension and modification, the maturity date of this loan is extended for three years to December 15, 2027, the interest rate on the outstanding debt is based on a fixed interest rate of 6.05% and monthly installments of principal and interest of approximately $84,521 are required.
v3.26.1
Mortgages Payable and Line of Credit - Schedule of Principal Amounts (Details)
$ in Thousands
Jan. 31, 2026
USD ($)
Schedule of Principal Amounts [Abstract]  
2026 $ 60,618 [1]
2027 9,655
2028 24,521
2029 26,506
2030
[1] (a)Includes the following: (1)The loan on the Preakness shopping center located in Wayne, New Jersey in the amount of $25 million, which had a maturity date of August 1, 2025 and was further extended. Wayne PSC, LLC continues to work with the current lender, ConnectOne Bank, on a potential modification and extension of the loan. ConnectOne Bank has issued several extensions of the loan’s maturity date, with the most recent extension through May 1, 2026, while discussions are ongoing. Each extension has been made under the same terms and conditions of the existing loan agreement. Wayne PSC, LLC continues to evaluate all options for refinancing or replacing the loan. Management expects this loan to be further extended, however, until such time as a definitive agreement providing for a modification, extension or replacement of this loan is entered into, there can be no assurance that such an agreement will be reached. (2)The loan on the Westwood Plaza shopping center located in Westwood, New Jersey, in the amount of approximately $9.6 million which has a maturity date of May 1, 2026. Management expects this loan to be extended/refinanced, however, until such time as a definitive agreement providing for a modification, extension or replacement of this loan is entered into, there can be no assurance that such an agreement will be reached. (3)The loan on the Westwood Hills property located in Westwood, New Jersey, in the amount of approximately $24.5 million which has a maturity date of September 1, 2026. Management expects this loan to be extended/refinanced, however, until such time as a definitive agreement providing for a modification, extension or replacement of this loan is entered into, there can be no assurance that such an agreement will be reached.
v3.26.1
Mortgages Payable and Line of Credit - Schedule of Estimated Fair Value and Carrying Value of Freit’s Long-Term Debt (Details) - USD ($)
$ in Millions
Jan. 31, 2026
Oct. 31, 2025
Schedule of Estimated Fair Value and Net Carrying Value of Long-Term Debt [Abstract]    
Fair Value $ 117.8 $ 118.4
Carrying Value, Net $ 120.4 $ 120.8
v3.26.1
Segment Information (Details)
 3 Months Ended
Jan. 31, 2026
Segment
Segment Information [Abstract]  
Number of reportable segments 2
v3.26.1
Segment Information - Schedule of Consolidated Net Income Attributable to Common Equity (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Real estate rental revenue:    
Total real estate rental revenue $ 7,513 $ 7,297
Real estate operating expenses:    
Total real estate operating expenses 3,690 3,736
Net operating income:    
Total net operating income 3,823 3,561
Recurring capital improvements - residential (62) (77)
Reconciliation to condensed consolidated net income attributable to common equity:    
Segment NOI 3,823 3,561
Deferred rents - straight lining (9) (28)
Investment income 284 400
General and administrative expenses (713) (845)
(Loss) income on investment in tenancy-in-common (1) 9
Depreciation (721) (723)
Financing costs (1,861) (1,873)
Net income 802 501
Net loss attributable to noncontrolling interests in subsidiaries 141 113
Net income attributable to common equity 943 614
Commercial [Member]    
Real estate rental revenue:    
Total real estate rental revenue 1,958 1,934
Real estate operating expenses:    
Total real estate operating expenses 1,349 1,367
Net operating income:    
Total net operating income 609 567
Residential [Member]    
Real estate rental revenue:    
Total real estate rental revenue 5,555 5,363
Real estate operating expenses:    
Total real estate operating expenses 2,341 2,369
Net operating income:    
Total net operating income $ 3,214 $ 2,994
v3.26.1
Income Taxes (Details) - USD ($)
 3 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Income Taxes [Abstract]    
Percentage of ordinary taxable income 90.00%  
Percentage of ordinary taxable income distributed   100.00%
Provision for federal or state income taxes (in Dollars)
Income tax positions  
v3.26.1
Equity Incentive Plan (Details) - USD ($)
Mar. 12, 2026
Feb. 21, 2025
Feb. 20, 2025
Jan. 31, 2026
Oct. 31, 2025
Equity Incentive Plan [Line Items]          
Common stock, par value     $ 0.01 $ 0.01 $ 0.01
Board approved issued shares     1,193    
Subsequent Event [Member]          
Equity Incentive Plan [Line Items]          
Cash compensation $ 20,000,000        
Common stock, par value $ 0.01        
Closing price per share $ 12.62        
Board approved issued shares 1,584        
Available for issuance shares 1,584        
Equity Incentive Plan [Member]          
Equity Incentive Plan [Line Items]          
Cash compensation     $ 20,000    
Closing price per share   $ 16.76      
Board approved issued shares   1,193      
Available for issuance shares       419,709  
v3.26.1
Rental Income (Details)
 3 Months Ended
Jan. 31, 2026
Rental Income [Line Items]  
Lease terms for residential tenants 5 years
Maximum [Member]  
Rental Income [Line Items]  
Lease terms for residential tenants 2 years
Minimum [Member]  
Rental Income [Line Items]  
Lease terms for residential tenants 1 year
v3.26.1
Rental Income - Schedule of Minimum Fixed Lease Consideration Under Non-Cancelable Tenant Operating Leases (Details)
$ in Thousands
Jan. 31, 2026
USD ($)
Schedule of Minimum Fixed Lease Consideration Under Non-Cancelable Tenant Operating Leases [Abstract]  
2026 $ 5,334
2027 4,435
2028 3,307
2029 3,019
2030 2,837
Thereafter 3,653
Total $ 22,585