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SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
 12 Months Ended
Oct. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
SCHEDULE XI - REAL ESTATE AND ACCUMULATED DEPRECIATION

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY AND SUBSIDIARIES

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION

OCTOBER 31, 2019

(In Thousands of Dollars)

Column A Column B Column C Column D Column E Column F Column G Column H Column I
    Initial Cost Costs Capitalized Gross Amount at Which        
    to Company Subsequent to Acquisition Carried at Close of Period        
                          Life on
      Buildings         Buildings         Which
  Encum-   and    Improve- Carrying   and    Accumulated Date of Date Depreciation
Description brances Land Improvements Land ments Costs Land Improvements Total (1) Depreciation Construction Acquired is Computed
                           
Residential Properties:                          
Steuben Arms, River Edge, NJ $  10,021 $   364 $    1,773 $   -   $  1,501   $   364 $    3,274 $   3,638 $   2,883 1966 1975 7-40 years
Berdan Court, Wayne, NJ    28,815     250     2,206     -     4,779       250     6,985    7,235     5,613 1964 1965 7-40 years
Westwood Hills, Westwood, NJ    19,617    3,849     11,546     -     2,808      3,849     14,354    18,203     9,269 1965-70 1994 7-39 years
Pierre Towers, Hackensack, NJ    48,000    8,390     37,486    19    9,653      8,409     47,139    55,548    18,887 1970 2004 7-40 years
Boulders - Rockaway, NJ    15,615    1,632       -    3,386   15,951      5,018     15,951    20,969     5,744 2005-2006 1963/1964 7-40 years
Regency Club - Middletown, NY    15,588    2,833     17,792     -     730      2,833     18,522    21,355     2,620 2003 2014 7-40 years
Icon - Baltimore, MD    65,186    5,871       -      -    87,726      5,871     87,726    93,597     7,135 2016 2005 7-40 years
Station Place - Red Bank, NJ    12,350    8,793     10,757     -      1      8,793     10,758    19,551      516 2015 2017 7-40 years
                           
Commercial Properties:                          
Damascus Shopping Center,                          
 Damascus, MD    19,354    2,950     6,987   6,296   17,630      9,246     24,617    33,863     7,727 1960's 2003 5-39.5 years
Franklin Crossing, Franklin Lakes, NJ      -      29       -    3,382    7,444      3,411     7,444    10,855     4,209 1963/75/97 1966 5-39.5 years
Glen Rock, NJ      -      12       36     -     235       12      271     283      198 1940 1962 5-25 years
Westridge Square S/C, Frederick, MD     22,200    9,135     19,159     (1)    4,788      9,134     23,947    33,081    19,683 1986 1992 5-31.5 years
Westwood Plaza, Westwood, NJ    18,973    6,889     6,416     -     2,374      6,889     8,790    15,679     8,558 1981 1988 5-31.5 years
Preakness S/C, Wayne, NJ    23,737    9,280     24,217     -     2,877      9,280     27,094    36,374    11,873 1955/89/00 2002 5-39.5 years
The Rotunda, Baltimore, MD    53,334   10,392     14,634    232   52,858     10,624     67,492    78,116    13,448 1920/2016 2005 5-40 years
                           
Land Leased:                          
Rockaway, NJ      -      114       -      -      -        114       -      114      -    1963/1964  
Vacant Land:        `                   
Franklin Lakes, NJ      -      224       -     (156)     -        68       -       68      -    1966/93  
Wayne, NJ      -      286       -      -      -        286       -      286      -    2002  
Rockaway, NJ      -      51       -      -      -        51       -       51      -    1963/1964  
  $ 352,790 $  71,344 $   153,009 $ 13,158 $ 211,355 $  -  $  84,502 $   364,364 $  448,866 $  118,363      
                           

(1) Total cost for each property is the same for federal income tax purposes, with the exception of Pierre Towers, the Regency Club, Station Place and the Rotunda properties (Icon and The Rotunda) whose cost for federal income tax purposes is approximately $43.1 million, $13.3 million, $4.2 million and $169.9 million, respectively.  

 

Reconciliation of Real Estate and Accumulated Depreciation: 
             
   2019   2018   2017 
             
Real estate:               
    Balance, Beginning of year  $456,658   $433,288   $429,445 
                
    Additions - Buildings and improvements   3,386    4,562    6,602 
                
    Disposal - Buildings and improvements   (240)   (742)   (443)
                
    Acquisition (Sale) of property   (10,938)   19,550    (2,316)
                
    Balance, end of year  $448,866   $456,658   $433,288 
                
Accumulated depreciation:               
    Balance, beginning of year  $111,967   $101,194   $92,547 
                
    Additions - Charged to operating expenses   11,339    11,515    10,667 
                
    Disposal - Buildings and improvements   (217)   (742)   (409)
                
    Sale of property   (4,726)   —    (1,611)
                
    Balance, end of year  $118,363   $111,967   $101,194