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Planned asset dispositions	6 Months Ended
Apr. 30, 2013
Planned Asset Dispositions
Planned asset dispositions	Note 5 – Planned asset dispositions: On June 3, 2011, FREIT’s Board authorized management to pursue the sale of the Palisades Manor Apartments, in Palisades Park, NJ, and the Grandview Apartments in Hasbrouck Heights, NJ. The decision to pursue the sale of these properties was based on the Board’s desire to re-deploy the net proceeds arising from the sale to real estate assets in other areas of FREIT’s operations. On April 6, 2013, the Palisades Manor property was sold (refer to discussion in Note 6 for additional information). A contract for the sale of the Grandview property has been entered into, subject to the completion of the due diligence review and the buyer securing a mortgage commitment on the property. The contract sales price is $2.5 million. Since the contract has certain contingencies that must first be met, it is not possible for management to estimate when the sale of the Grandview property will occur, and therefore, the Grandview property is classified as held for use as of April 30, 2013. On May 2, 2012, FREIT’s Board authorized management to pursue the sale of its South Brunswick, NJ property. The decision to sell this property was based on the Board’s desire to re-deploy the net proceeds arising from the sale to real estate assets in other areas of FREIT’s operations. A contract for the sale of the South Brunswick property has been entered into, subject to the completion of the due diligence review. The contract sales price is $11 million. Since the contract is contingent on the due diligence review, it is not possible for management to estimate when the sale of the South Brunswick property will occur, and therefore, it is classified as held for use as of April 30, 2013.

Planned asset dispositions

6 Months Ended

Apr. 30, 2013

Note 5 – Planned asset dispositions:

On June 3, 2011, FREIT’s Board authorized management to pursue the sale of the Palisades Manor Apartments, in Palisades Park, NJ, and the Grandview Apartments in Hasbrouck Heights, NJ. The decision to pursue the sale of these properties was based on the Board’s desire to re-deploy the net proceeds arising from the sale to real estate assets in other areas of FREIT’s operations. On April 6, 2013, the Palisades Manor property was sold (refer to discussion in Note 6 for additional information). A contract for the sale of the Grandview property has been entered into, subject to the completion of the due diligence review and the buyer securing a mortgage commitment on the property. The contract sales price is $2.5 million. Since the contract has certain contingencies that must first be met, it is not possible for management to estimate when the sale of the Grandview property will occur, and therefore, the Grandview property is classified as held for use as of April 30, 2013.

On May 2, 2012, FREIT’s Board authorized management to pursue the sale of its South Brunswick, NJ property. The decision to sell this property was based on the Board’s desire to re-deploy the net proceeds arising from the sale to real estate assets in other areas of FREIT’s operations. A contract for the sale of the South Brunswick property has been entered into, subject to the completion of the due diligence review. The contract sales price is $11 million. Since the contract is contingent on the due diligence review, it is not possible for management to estimate when the sale of the South Brunswick property will occur, and therefore, it is classified as held for use as of April 30, 2013.