EXHIBIT 23

            CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
            --------------------------------------------------------


We consent to the  incorporation by reference in the  registration  statement of
First  Real  Estate  Investment  Trust  of New  Jersey  on Form  S-8  (File  No.
333-79555)  of  our  report  dated  January  10,  2005  on  our  audits  of  the
consolidated  financial  statements of First Real Estate Investment Trust of New
Jersey  and  Subsidiaries  as of October  31,  2004 and 2003 and for each of the
three years in the period ended October 31, 2004 which report is included in the
2004 Annual Report of First Real Estate  Investment  Trust of New Jersey on Form
10-K.


                                                   /s/ J.H. Cohn LLP

Roseland, New Jersey
February 9, 2005