VALUE PROPERTY TRUST
10-Q/A, 1996-08-21
REAL ESTATE INVESTMENT TRUSTS
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-Q/A 
                                 AMENDMENT No. 1
(Mark One)

[ X ]             QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                  THE SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended June 30, 1996

                                       OR

[   ]             TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                  THE SECURITIES EXCHANGE ACT OF 1934

                  For the transition period from ____________ to __________


Commission File Number 1-6613


                              VALUE PROPERTY TRUST
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)



          Maryland                                          23-1862664
- -------------------------------                 --------------------------------
(State or other jurisdiction of                 (I.R.S. Employer Identification)
incorporation or organization)                                  

     120 Albany Street, 8th Floor
      New Brunswick, New Jersey                             08901-2163
- ----------------------------------------                    ----------
(Address of principal executive offices)                    (Zip Code)


Registrant's telephone number, including area code:    (908) 296-3080
<PAGE>
                                   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 thereunto duly authorized.






                                        Value Property Trust                 
                                                                             
                                                                             
                                                                             
                                                                             
                                                                             
                                        /s/ George R. Zoffinger              
                                        -------------------------------------
                                        George R. Zoffinger                  
                                        President and Chief Executive Officer
                                        (Principal Executive Officer)        
                                                                             
                                                                             
                                                                             
                                                                             
                                        /s/ Robert T. English                
                                        -------------------------------------
                                        Robert T. English                    
                                        Chief Financial Officer              
                                        (Principal Financial Officer)        
                                        



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