Pricing Supplement dated November 25, 1996 Rule 424(b)(3)
(To Prospectus dated October 28, 1996 and File no. 333-8077
Prospectus Supplement dated October 28, 1996)
WELLSFORD RESIDENTIAL PROPERTY TRUST
Medium-Term Note - Floating Rate
- -----------------------------------------------------------------------------
Face Amount: $25,000,000
Issue Price: 100%
Initial Interest Rate: 5.82%
Base Rate: 3-month LIBOR as set by the British
Bankers Association (as found on
Telerate Page 3750)
Spread: + 32 bps
Interest Reset Dates: Quarterly on the 25th of each February,
May, August and November
Interest Determination Date: Two London Business Days
prior to each Interest Reset Date
Interest Payment Dates: Quarterly on the 25th of each February,
May, August and November
Stated Maturity Date: November 24, 1999
Denominations (if other than
$1000 and integral multiples thereof). _________________
Trade Date: November 20, 1996
Original Issue Date: November 25, 1996
Net Proceeds to Issuer: 99.70%
Agent's Discount/Commission: 00.30%
Name of Agent: Goldman, Sachs & Co.
Agent acting in the capacity indicated below:
[ ] As Agent
[x] As Principal
- --------------------------------------------------------------------------------
Day Count Convention:
[ ] 30/360 for the period from to
[x] Actual/360 for the period from November 25, 1996 to
November 24, 1999
[ ] Actual/Actual for the period from to
[ ] Other (see attached) to
Redemption:
[ ] The Notes cannot be redeemed prior to the Stated Maturity Date.
[x] The Notes may be redeemed prior to Stated Maturity Date only on
each Interest Payment Date with 30 days' prior notice.
Initial Redemption Date: November 25, 1997
Redemption Percentage: 100%
Annual Redemption Percentage Reduction: N/A
Repayment:
[x] The Notes cannot be repaid prior to the Stated Maturity Date.
[ ] The Notes can be repaid prior to the Stated Maturity Date at
the option of the holder of the Notes.
Optional Repayment Date(s):
Repayment Price: %
Original Issue Discount: [ ] Yes [x] No
Total Amount of OID:
Yield to Maturity:
Initial Accrued Period:
Form: [x] Book-entry [ ] Certificated
- --------------------------------------------------------------------------------