Investment in Tenancy-In-Common (Tables)

12 Months Ended

Oct. 31, 2024

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 October 31, 2024 and 2023, accounted for by the equity method:

	October 31,		October 31,
	2024		2023
	(In Thousands of Dollars)
Real estate, net	$	72,707	$	74,202
Cash and cash equivalents		1,442		2,256
Tenants' security accounts		528		478
Receivables and other assets		556		455
Total assets	$	75,233	$	77,391
Mortgages payable, net of unamortized debt issuance costs	$	47,362	$	48,516
Accounts payable and accrued expenses		229		295
Tenants' security deposits		529		496
Deferred revenue		172		181
Equity		26,941		27,903
Total liabilities & equity	$	75,233	$	77,391
FREIT's investment in TIC (65% interest)	$	17,512	$	18,137

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 fiscal years ended October 31, 2024, 2023 and 2022, accounted for by the equity method:

	Year Ended			Year Ended			Year Ended
	October 31, 2024			October 31, 2023			October 31, 2022
	(In Thousands of Dollars)
Revenue	$	8,591		$	8,278		$	8,028
Operating expenses		(4,977	)		(4,893	)		(4,594	)
Depreciation		(2,235	)		(2,212	)		(2,183	)
Operating income		1,379			1,173			1,251
Interest income		82			—			—
Sinatra expenses due to FREIT		(166	)		—			—
Interest expense including amortization of deferred financing costs		(1,556	)		(1,590	)		(1,601	)
Net loss	$	(261	)	$	(417	)	$	(350	)
FREIT's loss on investment in TIC (65% interest)	$	(170	)	$	(271	)	$	(228	)