Investment in tenancy-in-common (Tables)

6 Months Ended

Apr. 30, 2021

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Balance Sheet of Pierre Property

The following table summarizes the balance sheets of the Pierre Towers property as of April 30, 2021 and October 31, 2020, accounted for by the equity method:

		April 30,		October 31,
		2021		2020
		(In Thousands of Dollars)
Real estate, net	$	79,052	$	80,041
Cash and cash equivalents		580		754
Tenants' security accounts		510		523
Receivables and other assets		601		468
Total assets	$	80,743	$	81,786
Mortgages payable, net of unamortized debt issuance costs	$	49,823	$	49,956
Accounts payable and accrued expenses		280		314
Tenants' security deposits		507		535
Deferred revenue		82		56
Equity		30,051		30,925
Total liabilities & equity	$	80,743	$	81,786
FREIT's investment in TIC (65% interest)	$	19,533	$	20,101

Schedule of Income Statement of Pierre Property

The following table summarizes the statements of operations of the Pierre Towers property for the six and three months ended April 30, 2021 and for the period from February 28, 2020 through April 30, 2020, accounted for by the equity method:

					For the period from
	Six Months Ended		Three Months Ended		February 28, 2020
	April 30, 2021		April 30, 2021		through April 30, 2020
		(In Thousands of Dollars)
Revenue	$	3,774	$	1,883	$	1,242
Operating expenses		2,114		1,123		643
Net operating income		1,660		760		599
Depreciation		1,081		541		358
Interest expense including amortization of deferred financing costs		802		401		268
Net loss	$	(223)	$	(182)	$	(27)
FREIT's loss on investment in TIC (65% interest)	$	(145)	$	(118)	$	(18)