GOULD INVESTORS L P
SC 13D, 1999-02-08
OPERATORS OF NONRESIDENTIAL BUILDINGS
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                       Securities and Exchange Commission
                             Washington, D.C. 20549

                                  SCHEDULE 13D
                                 (Rule 13d-101)
            Under the Securities Exchange Act of l934
                 Information to be included in statements filed
                pursuant to Rule 13d-1(a) and Amendments thereto
                         filed pursuant to Rule 13d-2(a)

                                (Amendment No. 5)

Peekskill Financial Corporation
- ----------------------------------------------------------------
                       (Name of Issuer)
Common Stock, $.01 par value
- ----------------------------------------------------------------
                 (Title of Class of Securities)
705385102
- ---------------------------------------------------------------
Simeon Brinberg           (CUSIP Number)
60 Cutter Mill Road, Great Neck, New York 11021 516-466-3100
- ----------------------------------------------------------------
          (Name, Address and Telephone Number of Person
        Authorized to Receive Notices and Communications)

                         February 2, 1999
- ----------------------------------------------------------------
     (Date of Event which Requires Filing of this Statement)

     If the filing  person has  previously  filed a statement on Schedule l3G to
report the acquisition  which is the subject of this Schedule l3D, and is filing
this  schedule  because  of Rule  l3d-l(e),  13d-1  (f) or  13d-1(g),  check the
following box / /.

     NOTE:  Schedules  filed on paper format shall include a signed original and
five copies of the  schedules,  including  all  exhibits.  See Rule l3d-7(b) for
other parties to whom copies are to be sent.

                                               Page 1 of 9 Pages


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                                               Page 2 of 9 Pages
Cusip No. 705385102
- --------------------------------------------------------------
l.   NAME OF REPORTING PERSON
     S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
     Gould Investors L.P. - 11-2763164
- -----------------------------------------------------------------
2.   CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*        (a)X
                                                   (b)
- -----------------------------------------------------------------
3.   SEC USE ONLY
- ---------------------------------------------------------------
4.   SOURCE OF FUNDS*

     WC
- -----------------------------------------------------------------
5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
- -----------------------------------------------------------------
6.   CITIZENSHIP OR PLACE OF ORGANIZATION
     Delaware
- -----------------------------------------------------------------
                    7.   SOLE VOTING POWER - 26,574
 NUMBER OF          _____________________________________________
 SHARES             8.   SHARED VOTING POWER -
 BENEFICIALLY       ____________________________________________
 OWNED BY           9.   SOLE DISPOSITIVE POWER - 26,574
 EACH               _____________________________________________
 REPORTING          10.  SHARED DISPOSITIVE POWER -
 PERSON WITH        _____________________________________________
- -----------------------------------------------------------------
11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON -   26,574
- -----------------------------------------------------------------
12.  CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
- -----------------------------------------------------------------
13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
- -----------------------------------------------------------------
14.  TYPE OF
REPORTING PERSON*
     PN


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                                                  Page 3 of 9 Pages
l.   NAME OF REPORTING PERSON
     S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
     GIT Pension Trust - 11-3009470
- -----------------------------------------------------------------
2.   CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*        (a)X
                                                   (b)
- -----------------------------------------------------------------
3.   SEC USE ONLY
- -----------------------------------------------------------------
4.   SOURCE OF FUNDS*

     00
- -----------------------------------------------------------------
5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
- -----------------------------------------------------------------
6.   CITIZENSHIP OR PLACE OF ORGANIZATION

     New York
- -----------------------------------------------------------------
                    7.   SOLE VOTING POWER - 252
 NUMBER OF          _____________________________________________
 SHARES             8.   SHARED VOTING POWER -
 BENEFICIALLY       _____________________________________________
 OWNED BY           9.   SOLE DISPOSITIVE POWER - 252
 EACH               _____________________________________________
 REPORTING          10.  SHARED DISPOSITIVE POWER -
 PERSON WITH        _____________________________________________
- -----------------------------------------------------------------
11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON -   252
- -----------------------------------------------------------------
12.  CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
- -----------------------------------------------------------------
13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
- -----------------------------------------------------------------
14.  TYPE OF
REPORTING PERSON*
         EP


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                                                  Page 4 of 9 Pages
l.   NAME OF REPORTING PERSON
     S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
         BRT Pension Trust - 11-3009466
- -----------------------------------------------------------------
2.   CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*        (a)X
                                                   (b)
- -----------------------------------------------------------------
3.   SEC USE ONLY
- -----------------------------------------------------------------
4.   SOURCE OF FUNDS*

     OO
- -----------------------------------------------------------------
5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
- -----------------------------------------------------------------
6.   CITIZENSHIP OR PLACE OF ORGANIZATION

     New York
- -----------------------------------------------------------------
                    7.   SOLE VOTING POWER - 252
 NUMBER OF          _____________________________________________
 SHARES             8.   SHARED VOTING POWER -
 BENEFICIALLY       ____________________________________________
 OWNED BY           9.   SOLE DISPOSITIVE POWER - 252
 EACH               _____________________________________________
 REPORTING          10.  SHARED DISPOSITIVE POWER -
 PERSON WITH        _____________________________________________
- -----------------------------------------------------------------
11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON -   252
- -----------------------------------------------------------------
12.  CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
- -----------------------------------------------------------------
13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
- -----------------------------------------------------------------
14.  TYPE OF
REPORTING PERSON *
         EP
- -----------------------------------------------------------------


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                                                 Page 5 of 9 Pages

l.   NAME OF REPORTING PERSON
     S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
     REIT Management Corp. Pension Trust - 11-3010579
- -----------------------------------------------------------------
2.   CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*        (a)X
                                                   (b)
- -----------------------------------------------------------------
3.   SEC USE ONLY
- -----------------------------------------------------------------
4.   SOURCE OF FUNDS*
     OO
- -----------------------------------------------------------------
5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
- -----------------------------------------------------------------
6.   CITIZENSHIP OR PLACE OF ORGANIZATION

     New York
- -----------------------------------------------------------------
                    7.   SOLE VOTING POWER - 252
 NUMBER OF          _____________________________________________
 SHARES             8.   SHARED VOTING POWER -
 BENEFICIALLY       ____________________________________________
 OWNED BY           9.   SOLE DISPOSITIVE POWER - 252
 EACH               _____________________________________________
 REPORTING          10.  SHARED DISPOSITIVE POWER -
 PERSON WITH        _____________________________________________
- -----------------------------------------------------------------
11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON -   252
- -----------------------------------------------------------------
12.  CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
- -----------------------------------------------------------------
13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
- -----------------------------------------------------------------
14.  TYPE OF
REPORTING PERSON*
         EP

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                                                  Page 6 of 9 Pages

l.   NAME OF REPORTING PERSON
     S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
     REIT Management Corp. Profit Sharing Trust - 11-6382361
- -----------------------------------------------------------------
2.   CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*        (a)X
                                                   (b)
- -----------------------------------------------------------------
3.   SEC USE ONLY
- -----------------------------------------------------------------
4.   SOURCE OF FUNDS*
     OO
- -----------------------------------------------------------------
5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
- -----------------------------------------------------------------
6.   CITIZENSHIP OR PLACE OF ORGANIZATION
     New York
- -----------------------------------------------------------------
                    7.   SOLE VOTING POWER - 252
 NUMBER OF          _____________________________________________
 SHARES             8.   SHARED VOTING POWER -
 BENEFICIALLY       ____________________________________________
 OWNED BY           9.   SOLE DISPOSITIVE POWER - 252
 EACH               _____________________________________________
 REPORTING          10.  SHARED DISPOSITIVE POWER -
 PERSON WITH        _____________________________________________
- -----------------------------------------------------------------
11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON -   252
- -----------------------------------------------------------------
12.  CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
- -----------------------------------------------------------------
13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
- -----------------------------------------------------------------
14.  TYPE OF
REPORTING PERSON*
         EP


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                                               Page 7 of 9 Pages

l.   NAME OF REPORTING PERSON
     BRT Realty Trust

         S.S.or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-2755856

- -----------------------------------------------------------------
2.   CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*        (a)X
                                                   (b)
- -----------------------------------------------------------------
3.   SEC USE ONLY
- -----------------------------------------------------------------
4.   SOURCE OF FUNDS*

     OO
- -----------------------------------------------------------------
5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
- -----------------------------------------------------------------
6.   CITIZENSHIP OR PLACE OF ORGANIZATION

     New York
- -----------------------------------------------------------------
                    7.   SOLE VOTING POWER - -0-
 NUMBER OF          _____________________________________________
 SHARES             8.   SHARED VOTING POWER -
 BENEFICIALLY       ____________________________________________
 OWNED BY           9.   SOLE DISPOSITIVE POWER - -0-
 EACH               _____________________________________________
 REPORTING          10.  SHARED DISPOSITIVE POWER -
 PERSON WITH        _____________________________________________
- -----------------------------------------------------------------
11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON -   -0-
- -----------------------------------------------------------------
12.  CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
- -----------------------------------------------------------------
13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 0%
- -----------------------------------------------------------------
14.  TYPE OF
REPORTING PERSON *
         EP
- -----------------------------------------------------------------


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                                                     Page 8 of 9 Pages

This Amendment amends and supplements Statement on Schedule 13D filed on June 5,
1998, amended by Amendment No. 1 filed on July 6, 1998, Amendment No. 2 filed on
January 5, 1999,  Amendment  No. 3 filed on January 13, 1999 and Amendment No. 4
filed on January 26, 1999, relating to Common Stock, $.01 par value (the "Common
Stock")  of  Peekskill  Financial  Corporation,   a  Delaware  Corporation  (the
"Company"). Except as amended by this Amendment, there has been no change in the
information previously reported.

Item 5.   Interest in Securities of the Issuer

The  Reporting  Persons  tendered  all of their  shares of  Common  Stock in the
Company's  Dutch Auction Self Tender Offer (see Amendment No. 4).  Approximately
89.93% of the shares tendered were purchased by the Company in the Dutch Auction
Self Tender Offer at $16.75 per share.  The  Partnership  owns, as of this date,
26,574 shares of Common Stock of the Company, constituting approximately 1.3% of
the shares of Common Stock outstanding. Each Pension Plan owns, as of this date,
252  shares of Common  Stock of the  Company,  representing  less than 1% of the
Common  Stock  outstanding.  The  Partnership  and the Pension  Plans own in the
aggregate approximately 1.35% of the outstanding Common Stock of the Company and
this  Amendment will be the final  Amendment  filed by the  Partnership  and the
Pension Plans.


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                                                 Page 9 of 9 Pages



                            Signature

After  reasonable  inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.


Dated: February 8, 1999


                                GOULD INVESTORS L.P.
                             BY GEORGETOWN PARTNERS, INC.
                                MANAGING GENERAL PARTNER



                                By s/Simeon Brinberg
                                   --------------------       
                                   Simeon Brinberg
                                   Senior Vice President

REIT MANAGEMENT CORP.                GIT PENSION TRUST
PENSION TRUST

By s/Simeon Brinberg                 By s/Simeon Brinberg
   -----------------                    -----------------
   Simeon Brinberg,                     Simeon Brinberg,
   Trustee                              Trustee


REIT MANAGEMENT CORP.                BRT PENSION TRUST
PROFIT SHARING TRUST

By s/Simeon Brinberg                 By  s/Simeon Brinberg
      --------------                     -----------------
   Simeon Brinberg,                      Simeon Brinberg,
   Trustee                               Trustee

                                      BRT Realty Trust


                                      By s/Jeffrey Gould 
                                         -----------------
                                         Jeffrey Gould
                                         President


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