**EXHIBIT
        31.2**
 **CERTIFICATION**
 I,
        Donald
        W. Barney, certify that:
 1. I
        have
        reviewed this report on Form 10-Q of First Real Estate Investment Trust of
        New
        Jersey;
 2. Based
        on
        my knowledge, this report does not contain any untrue statement of a material
        fact or omit to state a material fact necessary to make the statements made,
        in
        light of the circumstances under which such statements were made, not misleading
        with respect to the period covered by this report;
 3. Based
        on
        my knowledge, the financial statements, and other financial information included
        in this report, fairly present in all material respects the financial condition,
        results of operations and cash flows of the registrant as of, and for, the
        periods presented in this report;
 4. The
        registrant’s other certifying officer(s) and I are responsible for establishing
        and maintaining disclosure controls and procedures (as defined in Exchange
        Act
        Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting
        (as
        defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant
        and
        have:
 (a) 
         Designed such disclosure controls and procedures, or caused such
        disclosure controls and procedures to be designed under our supervision,
        to
        ensure that material information relating to the registrant, including its
        consolidated subsidiaries, is made known to us by others within those entities,
        particularly during the period in which this report is being
        prepared;
 (b) 
         Designed such internal control over financial reporting, or caused such
        internal control over financial reporting to be designed under our supervision,
        to provide reasonable assurance regarding the reliability of financial reporting
        and the preparation of financial statements for external purposes in accordance
        with generally accepted accounting principles;
 (c) 
         Evaluated the effectiveness of the registrant’s disclosure controls and
        procedures and presented in this report our conclusions about the effectiveness
        of the disclosure controls and procedures, as of the end of the period covered
        by this report based on such evaluation; and
 (d) 
         Disclosed in this report any change in the registrant’s internal control
        over financial reporting that occurred during the registrant’s most recent
        fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual
        report) that has materially affected, or is reasonably likely to materially
        affect, the registrant’s internal control over financial reporting;
        and
 5. The
        registrant’s other certifying officer(s) and I have disclosed, based on our most
        recent evaluation of internal control over financial reporting, to the
        registrant’s auditors and the audit committee of the registrant’s board of
        directors (or persons performing the equivalent functions):
 (a) 
         All significant deficiencies and material weaknesses in the design or
        operation of internal control over financial reporting which are reasonably
        likely to adversely affect the registrant’s ability to record, process,
        summarize and report financial information; and
 (b) 
         Any fraud, whether or not material, that involves management or other
        employees who have a significant role in the registrant’s internal control over
        financial reporting.
  Date:
                  September 11, 2006
              /s/
                  Donald W. BarneyDonald
                  W. BarneyPresident,
                  Treasurer and Chief Financial
                  Officer