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Mail Stop 4561         March 27, 2008  Mr. Robert S. Hekemian Chairman and Chief Executive Officer First Real Estate Investment Trust of New Jersey 505 Main Street Hackensack, NJ 07601

Re: First Real Estate Investment Trust of New Jersey
 Form 10-K
Filed January 14, 2008
 File No. 000-25043

Dear Mr. Hekemian:
 We have reviewed your response lett er dated March 14, 2008, and have the
following comments.  Please respond to our co mments within ten business days, or tell us
by that time when you will provide us with a response.  If the comments request revised
disclosure in future filings, please confir m in writing that you will comply with the
comments in your future filings and also ex plain to us how you intend to comply.  We
welcome any questions you may have about our  comments or any other aspect of our
review.   Item 10.  Directors, Executive Officers a nd Corporate Governance (incorporated by
reference from the proxy statement)
 1. Please revise your disclosure in future f ilings to note that any person, not just a
holder of record or beneficial owner of your shares, may request and will be
provided with a copy of your Code of Conduc t.  We refer you to Item 406(c)(3) of
Regulation S-K.
 Item 11.  Executive Compensation (incorporat ed by reference to the proxy statement)

 2. In future filings, please provide a fo otnote to the “Fiscal 2007 Nonqualified
Deferred Compensation” table quantifying the extent to which the amounts reported in the contributi ons and earnings columns are reported as compensation
for the current fiscal year in the “Summa ry Compensation” table.  We refer you to
the instruction to Item 402(i)(2) of Regulation S-K.

Mr. Robert S. Hekemian
Chairman and Chief Executive Officer First Real Estate Investment Trust of New Jersey March 27, 2008 Page 2

Item 13.  Certain Relationships and Rela ted Transactions, Di rector Independence
(incorporated by reference to the proxy statement)
 3. We note your response to our prior comme nt 7.  Please provide us with an
expanded analysis as to why you believe these loans qualify as business loans
exempt from Section 13(k) of th e Securities Exchange Act of 1934.
 Exhibit Index

 4. Please file copies of your Equity Incen tive Plan, Deferred Compensation Plan and
any agreements documenting loans to rela ted parties or tell us why you believe
you are not required to file these documents .  We refer you to Item 601(b)(10) of
Regulation S-K.

Please contact Kristina Aberg at (202) 551-3404 or me at (202) 551-3852 with
any questions on these comments.
Sincerely,

Michael McTiernan Special Counsel
 cc: John A. Aiello, Esq. ( via facsimile )