FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Hekemian David		 2. Issuer Name and Ticker or Trading Symbol

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY [ FREVS ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle)

505 MAIN STREET, SUITE 400		 3. Date of Earliest Transaction (MM/DD/YYYY)

1/27/2023
(Street)

HACKENSACK, NJ 07601
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
 6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.01 per share (1)1/27/2023  J(2)  14645 A (2)208539 D  
Common Stock, par value $0.01 per share (1)        102216 I (3)By Partnerships and LLCs 
Common Stock, par value $0.01 per share (1)        17638 I (4)By Trust 
Common Stock, par value $0.01 per share (1)        25470 I (5)By Trust 
Common Stock, par value $0.01 per share (1)        88940 I (6)By Foundation 
Common Stock, par value $0.01 per share (1)        6000 I (7)By Trust 
Common Stock, par value $0.01 per share (1)        1916 I (8)By Spouse 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)		2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)		8. Price of Derivative Security
(Instr. 5)		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
(1) Prior to the reincorporation of First Real Estate Investment Trust of New Jersey, Inc. ("FREIT") from a New Jersey real estate investment trust to a Maryland corporation on July 1, 2021, FREIT's equity securities were beneficial interests in FREIT that were designated as "shares" without par value. In connection with the reincorporation of FREIT as a Maryland corporation, FREIT's shares of beneficial interest were converted to shares of common stock, par value $0.01 per share, on a 1-for-1 basis.
(2) As disclosed in FREIT's filings with the Securities and Exchange Commission, on November 4, 2021, FREIT's Board of Directors approved the termination of FREIT's Amended and Restated Deferred Fee Plan. In connection with the termination of the Amended and Restated Deferred Fee Plan, all Share Units credited to each participant's account for the deferral of fees under the Amended and Restated Deferred Fee Plan were distributed to the participants as shares of FREIT's common stock, par value $0.01 per share. The filing of FREIT's Annual Report on Form 10-K for the fiscal year ended October 31, 2022 on January 27, 2023 served as notice of the execution of the distribution of such shares under the Amended and Restated Deferred Fee Plan to the reporting person.
(3) Shares held by certain partnerships and limited liability companies in which Mr. Hekemian is a partner or member. Mr. Hekemian disclaims beneficial ownership of the shares held by such partnerships and limited liability companies except to the extent of his pecuniary interest therein.
(4) Shares held in by a certain trust for the benefit of Mr. Hekemian's nephews, of which Mr. Hekemian is the trustee. Mr. Hekemian disclaims beneficial ownership of the shares held by such trust.
(5) Shares held in a certain trust, of which Mr. Hekemian is a beneficiary. Mr. Hekemian disclaims beneficial ownership of the shares held by such trust except to the extent of his pecuniary interest therein.
(6) Shares held by the Robert and Mary Jane Hekemian Foundation, Inc., of which Mr. Hekemian is the Vice President/Treasurer. Mr. Hekemian disclaims beneficial ownership of the shares held by the Robert and Mary Jane Hekemian Foundation, Inc.
(7) Shares held in a certain trust for the benefit of Mr. Hekemian's children, of which Mr. Hekemian is the trustee. Mr. Hekemian disclaims beneficial ownership of the shares held by such trust.
(8) Shares held by Mr. Hekemian's wife. Mr. Hekemian disclaims beneficial ownership of the shares held by his wife.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Hekemian David
505 MAIN STREET
SUITE 400
HACKENSACK, NJ 07601		X
Signatures
/s/ David B. Hekemian1/31/2023
**Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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