NAVARRE 500 BUILDING ASSOCIATES
NT 10-K, 1999-03-30
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):

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

        For Period Ended: December 31, 1998

        [  ]    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 <PAGE>


        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.

        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



                                     -2-<PAGE>

        (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 Powers of Attorney, dated August 6, 1996 and 
             May 14, 1998, and attached hereto as Exhibit 1.

             Date: March 29, 1999     


					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/Thomas N. Keltner, Jr.
           Thomas N. Keltner, Jr.       General Partner    May 14, 1998













                                 -4-<PAGE>



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


		On the 6th day of August, 1996 before me personally came 
        PETER L. MALKIN, to me known to be the individual described in and 
        who executed the foregoing instrument, and acknowledged that he 
        executed the same.  
                                      /s/ Notary Public
                                          NOTARY PUBLIC

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


		On the 14th day of May, 1998 before me personally came 
        THOMAS N. KELTNER, JR., to me known to be the individual described 
        in and who executed the foregoing instrument, and acknowledged 
        that he executed the same.  
                                     /s/ Notary Public
                                         NOTARY PUBLIC













                                -5-<PAGE>




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