NAVARRE 500 BUILDING ASSOCIATES
NT 10-Q, 1997-11-14
OPERATORS OF NONRESIDENTIAL BUILDINGS
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                       U.S. SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON, D.C. 20549

                                     FORM 12b-25

                             NOTIFICATION OF LATE FILING


                                                 SEC File Number: 0-2673
                                                 Cusip Number:
                    (Check One):

         [  ] Form 10-K and Form 10-KSB     [  ] Form 20-F
         [  ] Form 11-K                     [XX] Form 10-Q and Form 10-QSB
         [  ] Form N-SAR

              For Period Ended: September 30, 1997

              [  ] Transition Report on Form 10-K
              [  ] Transition Report on Form 20-F
              [  ] Transition Report on Form 11-K
              [  ] Transition Report on Form 10-Q
              [  ] Transition Report on Form N-SAR
              For the Transition Period Ended:_________________

         Read attached Instruction Sheet Before Preparing Form. 
         Please Print or Type.

         Nothing in this form shall be construed to imply that the
         Commission has verified any information contained herein.  

         If the notification relates to a portion of the filing checked
         above, identify the Item(s) to which the notification relates:
         ___________________________________

         Part I - Registrant Information 

         Navarre-500 Building Associates
         Full Name of Registrant

         _____________________________
         (Former Name if Applicable) 

         60 East 42nd Street
         Address of Principal Executive Office
         (Street and Number) 

         New York, New York 10165
         City, State and Zip Code








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         Part II - Rules 12b-25(b) and (c)

         If the subject report could not be filed without unreasonable
         effort or expense and the registrant seeks relief pursuant to Rule
         12b-25(b), the following should be completed (Check box if
         appropriate)

               (a) The reasons described in reasonable detail in Part III
               of this form could not be eliminated without unreasonable
             [ effort or expense; 
             [
             [ (b) The subject annual report, semi-annual report,
             [ transition report on Form 10-K, Form 20-F, 11-K or Form
             [ N-SAR, or portion thereof will be filed on or before the
         [X] [ fifteenth calendar day following the prescribed due date; or
             [ the subject quarterly report or transition report on Form
             [ 10-Q, or portion thereof will be filed on or before the 
             [ fifth calendar day following the prescribed due date; and 
             [
             [ (c) The accountant's statement or other exhibit required by
               Rule 12b-25(c) has been attached if applicable. 

         Part III - Narrative

         State below in reasonable detail the reasons why Form 10-K and
         Form 10-KSB, 20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the
         transition report or portion thereof could not be filed within the
         prescribed period.  


               We are awaiting financial information regarding Registrant.
























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         Part IV - Other Information

         (1)  Name and telephone number of person to contact in regard to
              this notification

              Mark Labell, Esq.              (212) 850-2677
                   (Name)              (Area Code)(Telephone Number)

         (2)  Have all other periodic reports required under section 13 or
              15(d) of the Securities Exchange Act of 1934 or section 30 of
              the Investment Company Act of 1940 during the preceding 12
              months or for such shorter period that the registrant was
              required to file such report(s) been filed?  If the answer is
              no, identify report(s).  
                                                      [XX] Yes  [  ] No

         (3)  Is it anticipated that any significant change in results of
              operations from the corresponding period for the last fiscal
              year will be reflected by the earnings statements to be
              included in the subject report or portion thereof?

                                                      [  ] Yes  [XX] No

              If so:  attach an explanation of the anticipated change, both
              narratively and quantitatively, and, if appropriate, state
              the reasons why a reasonable estimate of the results cannot
              be made.  


                           Navarre-500 Building Associates
                    (Name of Registrant as specified in charter)


              has caused this Notification to be signed on its behalf by
              the undersigned thereunto duly authorized Attorney-in-Fact
              for Registrant and each of the Partners in Registrant,
              pursuant to a Power of Attorney, dated August 6, 1996, and
              attached hereto as Exhibit 1.

              Date: November 14, 1997       


                                       NAVARRE-500 BUILDING ASSOCIATES
                                            (Registrant)


                                       By /s/ Stanley Katzman 
                                          Stanley Katzman, Attorney-in-Fact







                                         -3-<PAGE>




                                                                EXHIBIT 1

                           NAVARRE-500 BUILDING ASSOCIATES

                                   FILE NO. 0-2673

                                  POWER OF ATTORNEY

                   We, the undersigned general partners of Navarre-500

         Building Associates ("Associates"), hereby severally constitute

         and appoint Stanley Katzman and Richard A. Shapiro and each of

         them, individually, our true and lawful attorneys with full power

         to them and each of them to sign for us, and in our names and in

         the capacities indicated below on behalf of Associates, any and

         all reports or other statements required to be filed with the

         Securities and Exchange Commission under Section 13 or 15(d) of

         the Securities Exchange Act of 1934. 

              Signature              Title                    Date


         /s/Peter L. Malkin 
            Peter L. Malkin       General Partner        August 6, 1996


         /s/Stanley Katzman 
            Stanley Katzman       General Partner        August 6, 1996

         STATE OF NEW YORK   )
                             : ss.:
         COUNTY OF NEW YORK  )


                   On the 6th day of August, 1996 before me personally came

         PETER L. MALKIN and STANLEY KATZMAN, to me known to be the

         individuals described in and who executed the foregoing

         instrument, and acknowledged that they executed the same.  

                                     /s/ Notary Public
                                         NOTARY PUBLIC




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