<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 14D-1
Tender Offer Statement Pursuant to Section 14(d)(1)
of the Securities Exchange Act of 1934
(AMENDMENT NO. 2)
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STAMFORD TOWERS LIMITED PARTNERSHIP
a Delaware Limited Partnership
(Name of Subject Company)
STEELE HILL PARTNERS L.L.C.
AP-GP PROM PARTNERS INC.
(Bidders)
DEPOSITARY UNITS
(representing assignments of limited partnership interests)
(Title of Class
of Securities)
NONE
(CUSIP Number of Class
of Securities)
-----------------------
Michael L. Ashner Copy to:
Steele Hill Partners L.L.C. Mark I. Fisher
100 Jericho Quadrangle, Suite 214 Rosenman & Colin LLP
Jericho, New York 11735-2717 575 Madison Avenue
(516) 822-0022 New York, New York 10022-2585
(212) 940-8877
(Name, Address and Telephone Number of
Person Authorized to Receive Notices and
Communications on Behalf of Bidders)
Calculation of Filing Fee
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| Transaction | Amount of |
| Valuation* | Filing Fee |
| ----------- | ---------- |
| | |
| $3,473,000 | $694.60 |
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*For purposes of calculating the filing fee only. This amount assumes
the purchase of 2,300,000 Depositary Units ("Units") of the subject company for
$1.51 per Unit in cash.
[X] Check box if any part of the fee is offset as provided by Rule
0-11(a)(2) and identify the filing with which the offsetting fee was
previously paid. Identify the previous filing by registration
statement number, or the Form or Schedule and date of its filing.
Amount previously paid: $694.60 Filing Party: Steele Hill Partners
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L.L.C.
------
Form or registration no.: Schedule 14D-1 Date Filed: February 14, 1997
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(continued on following pages)
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Page 2 of 6
CUSIP No.: None 14D-1
----
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Steele Hill Partners L.L.C.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(See Instructions)
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Sources of Funds (See Instructions)
AF; WC
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(e) or 2(f)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting
Person
200
- --------------------------------------------------------------------------------
8. Check Box if the Aggregate Amount in Row (7) Excludes
Certain Shares (See Instructions)
[ ]
- --------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row (7)
Less than 1%
- --------------------------------------------------------------------------------
10. Type of Reporting Person (See Instructions)
00
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Page 3 of 6
CUSIP No.: None 14D-1
----
- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
AP-GP Prom Partners Inc.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(See Instructions)
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Sources of Funds (See Instructions)
N/A
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(e) or 2(f)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting
Person
200 Units*
- --------------------------------------------------------------------------------
8. Check Box if the Aggregate Amount in Row (7) Excludes
Certain Shares (See Instructions)
[ ]
- --------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row (7)
Less than 1%
- --------------------------------------------------------------------------------
10. Type of Reporting Person (See Instructions)
CO
- ----------------------
* Represents Units owned by Steele Hill Partners L.L.C.
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AMENDMENT NO. 1 TO SCHEDULE 14D-1
This Amendment No. 2 amends the Tender Offer Statement on Schedule 14D-1
filed with the Commission on February 14, 1997 by Steele Hill Partners L.L.C, a
Delaware limited liability company (the "Purchaser"), relating to the tender
offer by the Purchaser to purchase up to 2,300,000 of the outstanding Depositary
Units ("Units") representing assignments of limited partnership interests of
Stamford Towers Limited Partnership, a Delaware limited partnership (the
"Partnership"), at a purchase price (the "Purchase Price") equal to $1.51 per
Unit, less the amount of any distributions declared or made with respect to the
Units between February 14, 1997 (the "Offer Date") and the date of payment of
the Purchase Price by the Purchaser, net to the seller in cash, without
interest, upon the terms set forth in the Offer to Purchase dated February 14,
1997 (the "Offer to Purchase") and in the related Letter of Transmittal, as each
may be supplemented or amended from time to time (which together constitute the
"Offer"), to inclue the information set forth below. Terms not otherwise
defined herein shall have the meaning ascribed to them in the Offer to Purchase.
Item 10. Additional Information.
----------------------
Item 10(f) is hereby supplemented as follows:
The information set forth in the press release attached hereto as
Exhibit (a)(5) is incorporated by reference herein.
Item 11. Materials to be Filed as Exhibits.
---------------------------------
Item 11 is hereby supplemented by adding the following, a copy of
which is attached hereto as Exhibit:
99.(a)(5) Press Release dated March 14, 1997.
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Signatures
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After due 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: March 14, 1997
STEELE HILL PARTNERS L.L.C.
By: AP-GP Prom Partners Inc.,
its Managing Partner
By: /s/ Michael L. Ashner
----------------------
Name: Michael L. Ashner
Title: Vice-President
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Exhibit Index
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Sequentially
Exhibit No. Description Numbered Page
- ----------- ----------- -------------
99.(a)(5) Press Release dated March 14, 1997
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EXHIBIT 99.(a)(5)
March 14, 1997
Jericho, New York
FOR IMMEDIATE RELEASE ....
- --------------------------
Steele Hill Partners L.L.C. has extended the expiration date of its offer
to purchase up to approximately 29% of the outstanding depositary units
representing assignments of limited partnership interests of Stamford Towers
Limited Partnership at $1.51 per unit until 12:00 Midnight, New York City time,
on Friday, March 21, 1997. Approximately 91,883 Units had been deposited
pursuant to the offer as of the close of business on March 13, 1997.
For additional information, contact The Herman Group, Inc., the Information
Agent for the offer, at (800) 992-6172.
