Investment in Tenancy-in-Common (Tables)

12 Months Ended

Oct. 31, 2023

Investment in tenancy-in-common [Abstract]

Schedule of Balance Sheet of Pierre Property

The following table summarizes the balance sheets of the Pierre Towers property as of October 31, 2023 and 2022, accounted for by the equity method:

	October 31,		October 31,
	2023		2022
	(In Thousands of Dollars)
Real estate, net	$	74,202	$	76,042
Cash and cash equivalents		2,256		2,051
Tenants' security accounts		478		454
Receivables and other assets		455		583
Total assets	$	77,391	$	79,130
Mortgages payable, net of unamortized debt issuance costs	$	48,516	$	49,425
Accounts payable and accrued expenses		295		178
Tenants' security deposits		496		462
Deferred revenue		181		145
Equity		27,903		28,920
Total liabilities & equity	$	77,391	$	79,130
FREIT's investment in TIC (65% interest)	$	18,137	$	18,798

Schedule of Income Statement of Pierre Property

The following table summarizes the statements of operations of the Pierre Towers property for the fiscal years ended October 31, 2023, 2022 and 2021, accounted for by the equity method:

	Year Ended			Year Ended			Year Ended
	October 31, 2023			October 31, 2022			October 31, 2021
	(In Thousands of Dollars)
Revenues	$	8,278		$	8,028		$	7,627
Operating expenses		4,893			4,594			4,311
Depreciation		2,212			2,183			2,166
Operating income		1,173			1,251			1,150
Interest expense including amortization of deferred financing costs		1,590			1,601			1,604
Net loss	$	(417	)	$	(350	)	$	(454	)
FREIT's loss on investment in TIC (65% interest)	$	(271	)	$	(228	)	$	(295	)