FORM 3 OMB APPROVAL
OMB Number: 3235-0104
Expires: September 30, 1998
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Act of
1934, Section 17(a) of the Public Utility Holding Company
Act of 1935 or Section 30(f) of the Investment Company
Act of 1940
Print or Type Responses)
1. Name and Address of Reporting Person
Schneider Milton S.
(Last) (First) (Middle)
c/o The Glenville Group, Inc.
580 West Germantown Pike Suite 202
(Street)
Plymouth Meeting PA 19462
(City) (State) (Zip)
2. Date of Event Requiring Statement
(Month/Day/Year)
12/31/97
3. IRS or Social Security Number of Reporting Person
(Voluntary)
4. Issuer Name and Ticker or Trading Symbol
CV Reit, Inc. CVI
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_x_ Director ___ 10% Owner
___ Officer (give title below) ___ Other (specify below)
6. If Amendment, Date of Original
(Month/Day/Year)
7. 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 Beneficially Owned
1. Title of Security (Instr. 4)
None
2. Amount of Securities Beneficially Owned (Instr. 4)
3. Ownership From: Direct (D) or Indirect (I) (Instr. 5)
4. Nature of Indirect Beneficial Ownership (Instr. 5)
Table II Derivative Securities Beneficially Owned (e.g., puts,
calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)
None
2. Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable Expiration Date
3. Title and Amount of Securities Underlying Derivative
Security (Instr. 4)
Title Amount or Number of Shares
4. Conversion or Exercise Price of Derivative Security
5. Ownership Form of Derivative Security: Direct (D) or
Indirect (I) (Instr. 5)
6. Name of Indirect Beneficial Ownership (Instr. 5)
Explanation of Responses:
**Intentional misstatements or omissions of facts constitute
Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/Milton S. Schneider January 12, 1998
Milton S. Schneider
**Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be
manually signed. If space provided is insufficient,
See Instruction 6 for procedure.
Potential persons who are to respond to the collection of
information contained in this form are not required to respond
unless the form displays a currently valid OMB Number.
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 5(b)(v). SEC 1473(7-96)
