Subsequent Event

12 Months Ended

Oct. 31, 2015

Subsequent Event [Abstract]

Subsequent Event

Note 17 - Subsequent Event

On January 11, 2016, FREIT was notified by Lakeland Bank (as successor by merger to Pascack Community Bank) of its election and exercise of the option to purchase the property leased by FREIT to Lakeland Bank located in Rochelle Park, New Jersey having a carrying value of $2,273,000 at October 31, 2015. Pursuant to the Lease Agreement, Lakeland Bank has the right to exercise this option at a price equal to the greater of $3 million or the fair market value of the property as determined by mutual agreement between tenant and landlord. The gain from the sale of this property cannot be determined until the purchase price is determined. However, the sale will result in FREIT's loss of annual rents of approximately $241,000.