<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________
SCHEDULE 14D-1
Tender Offer Statement Pursuant to Section 14(d)(1)
of the Securities Exchange Act of 1934
(AMENDMENT NO. 3)
Final Amendment
_______________________
STAMFORD TOWERS LIMITED PARTNERSHIP
a Delaware Limited Partnership
(Name of Subject Company)
STEEL 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 Bidder)
(continued on following pages)
(Page 1 of 5 Pages)
<PAGE>
CUSIP No.: NONE 14D-1 Page 2 of 5 Pages
- --------------------------------------------------------------------------------
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
195,912
- --------------------------------------------------------------------------------
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)
Approximately 2.50%
- --------------------------------------------------------------------------------
10. Type of Reporting Person (See Instructions)
OO
<PAGE>
CUSIP No.: NONE 14D-1 Page 3 of 5 Pages
- --------------------------------------------------------------------------------
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
195,912*
- --------------------------------------------------------------------------------
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)
Approximately 2.50%
- --------------------------------------------------------------------------------
10. Type of Reporting Person (See Instructions)
CO
- -------------------
*Represents Units owned by Steele Hill Partners L.L.C.
<PAGE>
AMENDMENT NO. 3 TO SCHEDULE 14D-1
This Amendment No. 3 (Final Amendment) 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"), as
amended by Amendments Nos. 1 and 2 thereto (the "Schedule 14D-1"), 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 made by the Partnership 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 include
the information set forth below. Terms not otherwise defined herein shall have
the meaning ascribed to them in the Schedule 14D-1 and the Offer to Purchase.
Item 4. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 4(a) is hereby supplemented and amended as follows:
"The total amount of funds required by the Purchaser to purchase the
195,712 Units accepted for payment pursuant to the Offer, exclusive of fees
and expenses, is $295,525.12. The Purchaser obtained such funds (plus
amounts to pay fees and expenses) from capital contributions from its
partners."
Item 6. INTEREST IN SECURITIES OF THE SUBJECT COMPANY.
Item 6(a)-(b) is hereby supplemented and amended as follows:
"The Offer expired at 12:00 Midnight, New York City time, on Friday,
March 21, 1997. Based on information provided by the Depositary to the
Reporting Persons, pursuant to the Offer, as of 12:00 Midnight, New York City
time on Friday, March 21, 1997, the Purchaser accepted for payment 195,712
Units, constituting approximately 2.50% of the outstanding Units."
<PAGE>
SIGNATURES
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 26, 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
