SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT
                        PURSUANT TO SECTION 13 OR 15 (D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                        Date of Report: February 2, 2004



                FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


       New Jersey                              22-1697095
 (State or other Jurisdiction of           (I.R.S. Employer
 -------------------------------           ----------------
Incorporation or Organization)            Identification No.)


 505 Main Street, P.O. Box 667, Hackensack, New Jersey                07602
 -----------------------------------------------------                -----
  (Address of principal executive offices)                          (Zip Code)


Registrant's telephone number, including area code   201-488-6400
                                                     ------------






Item 5. Other Events

First  Real  Estate  Investment  Trust  ("FREIT")  announced  that,  through  an
affiliate,  it has  entered  into  a  contract  to  purchase a luxury  apartment
community in Northern New Jersey.


FREIT is currently  conducting  inspections as part of its due diligence review.
If the  findings of the due  diligence  review are  satisfactory  to FREIT,  the
acquisition  is expected to close on or about March 15,  2004.  The  acquisition
price will be  approximately  $45  million  that will be  financed  in part by a
mortgage and in part by cash.

The  apartment  community  is in an  excellent  market  area.  It is expected to
enhance  FREIT's  residential  portfolio and add to  shareholder  value and cash
flow.





Disclosure Concerning Forward-Looking Statements
- ------------------------------------------------
Certain  Statements  in this  Form  8-K may  contain  information  that  is,  or
anticipate  certain  events  that are,  forward-looking  within  the  meaning of
Section 27A of the  Securities  Act of 1933, as amended,  and Section 21E of the
Securities  Exchange Act of 1934, as amended.  The Registrant  cautions  readers
that forward-looking statements,  including,  without limitation, those relating
to the  Registrant's  liquidity  and capital  resources,  are subject to certain
risks and  uncertainties.  Actual  results  may  differ  materially  from  those
described in the forward-looking statements and will be affected by a variety of
risks  and  factors,  including  without  limitation,  the  Registrant's  future
financial performance;  the availability of capital;  general market conditions;
national and local economic conditions;  particularly  long-term interest rates;
the terms of federal,  state and local governmental  regulations that affect the
Registrant;  and the competitive  environment in which the Registrant  operates,
including the  availability of retail space and  residential  apartment units in
the areas where the  Registrant's  properties  are  located.  In  addition,  the
Registrant's continued  qualification as a real estate investment trust involves
the  application of highly  technical and complex rules of the Internal  Revenue
Code.  The  forward-looking  statements are made as of the date of this Form 8-K
and  the  Registrant  assumes  no  obligation  to  update  the   forward-looking
statements  or to update the  reasons  actual  results  could  differ from those
projected in such forward-looking statements.




                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereto duly authorized.

                                              FIRST REAL ESTATE INVESTMENT TRUST
                                                                   OF NEW JERSEY

                                              By:/s/ Robert S. Hekemian
                                              ----------------------------------
                                                     Robert S. Hekemian
                                                     Chairman of the Board


DATED: February 6, 2002