SECURITIES AS EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of l934
Date of Report (Date of earliest event reported) July 24, l997
Investment Properties Associates
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(Exact name of registrant as specified in its charter)
New York 0-5537 13-2647723
(State or other jurisdiction (Commission (IRS Employer
of incorporation File Number) Identification No. )
60 East 45nd Street, New York, New York 10165
(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code (212) 687-6400
(Former name or former address, if changed since last report)
Page 1 of 5
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Item 5. Other Events.
See the attached Press Release of Registrant dated July 24, l997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
INVESTMENT PROPERTIES ASSOCIATES
BY /s/ Irving Schneider
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Irving Schneider, General Partner
Date July 25, 1997
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Exhibit Index
Item Exhibit No
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Press Release of Registrant, dated July 24, 1997 99
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FOR IMMEDIATE RELEASE
Investment Properties Associates Sale of Assets
will not Proceed
New York, New York, July 24, 1997... Investment Properties Associates
("IPA") announced today that it had been unable to reach agreement on definitive
documentation with the prospective purchaser with respect to the previously
announced proposed sale of substantially all of its real property interests. IPA
and the prospective purchaser had reached an agreement in principle for the sale
of the properties for $255 million.
A spokesman for IPA said that IPA will not pursue the sale of its
properties at this time.
IPA is a limited partnership that owns commercial office buildings in New
York, Chicago, Texas and Newark.
Contact:
Irving Schneider - (212)880-0151 Robert Hecht - (212)880-0276
General Partner, Chief Financial Officer,
Investment Properties Associates Investment Properties Associates
Executive Vice President, Vice President, Finance
Helmsley-Spear, Inc., Agent Helmsley-Spear, Inc., Agent
