-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 Q9/OXtV4kO9369fFQsAwNw==

<SEC-DOCUMENT>0000914317-06-002787.txt : 20061024
<SEC-HEADER>0000914317-06-002787.hdr.sgml : 20061024
<ACCEPTANCE-DATETIME>20061024154053
ACCESSION NUMBER:		0000914317-06-002787
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20061020
FILED AS OF DATE:		20061024
DATE AS OF CHANGE:		20061024

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HEKEMIAN ROBERT S
		CENTRAL INDEX KEY:			0001231796

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25043
		FILM NUMBER:		061160194

	MAIL ADDRESS:	
		STREET 1:		505 MAIN ST
		STREET 2:		SUITE 400
		CITY:			HACKENSACK
		STATE:			NJ
		ZIP:			07601

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY
		CENTRAL INDEX KEY:			0000036840
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				221697095
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1031

	BUSINESS ADDRESS:	
		STREET 1:		505 MAIN ST
		STREET 2:		P O BOX 667
		CITY:			HACKENSACK
		STATE:			NJ
		ZIP:			07602
		BUSINESS PHONE:		2014886400

	MAIL ADDRESS:	
		STREET 1:		P O BOX 667
		STREET 2:		505 MAIN STREET
		CITY:			HACKENSACK
		STATE:			NJ
		ZIP:			07602
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-79539_rhex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-10-20</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000036840</issuerCik>
        <issuerName>FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY</issuerName>
        <issuerTradingSymbol>FREVS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001231796</rptOwnerCik>
            <rptOwnerName>HEKEMIAN ROBERT S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>17 OLD WOODS ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SADDLE RIVER</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07458</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman of Board</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Shares</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2006-10-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>112000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.5</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>118855</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">First Real Estate Investment Trust of New Jersey is a Real Estate Investment Trust. Beneficial interests in the Trust are
 designated as &quot;Shares&quot; without par value.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Robert S. Hekemian</signatureName>
        <signatureDate>2006-10-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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