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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person
CRANDALL JOHN
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(Last) (First) (Middle)
C/O MACK-CALI REALTY CORPORATION 11 COMMERCE DRIVE
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(Street)
CRANFORD, NJ 07016
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
12/11/97
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3. IRS Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
MACK-CALI REALTY CORPORATION (CLI)
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5. Relationship of Reporting Person to Issuer:
(Check all applicable)
Director 10% Owner
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X Officer (give Other (Specify
----- title below) ------ below)
VICE PRESIDENT
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
Table 1 -- Non-Derivative Securities Beneficially Owned
1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect Beneficial Ownership
(Instr. 4) Beneficially Owned Direct (D) or (Instr. 5)
(Instr. 4) Indirect (I)
(Instr. 5)
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<S> <C> <C> <C>
COMMON STOCK 500 D (1)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
SEC 1473 (8-92)
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FORM 3 (continued)
<TABLE>
<CAPTION>
Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security 2. Date Exer- 3. Title and Amount of Securities 4. Conversion 5. Ownership 6. Nature of
cisable and Underlying Derivative Security or Exercise Form of Indirect
Expiration (Instr. 4) Price of Derivative Beneficial
Date Derivative Security: Ownership
(Month Day Security Direct (D) (Instr. 5)
Year) or
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Date Expira- Amount (Instr. 5)
Exer- tion or
cisable Date Title Number
of
Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
EMPLOYEE STOCK OPTIONS
(RIGHT TO BUY) (2) 4/20/05 COMMON STOCK 6,670 $17.25 D
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EMPLOYEE STOCK OPTIONS
(RIGHT TO BUY) (3) 3/05/06 COMMON STOCK 10,800 $21.50 D
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EMPLOYEE STOCK OPTIONS
(RIGHT TO BUY) (4) 4/07/07 COMMON STOCK 8,000 $30.75 D
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EMPLOYEE STOCK OPTIONS
(RIGHT TO BUY) (4) 12/12/07 COMMON STOCK 43,674 $38.75 D
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</TABLE>
Explanation of Responses:
(1) The reporting person owns these securities in joint tenancy with his wife.
(2) 4,447 of the options have vested and the remaining options will vest on
December 31, 1997.
(3) 2,160 of the options have vested and the remaining options vest in four
equal annual installments on December 31 of 1997 to 2001.
(4) The options vest in five equal annual installments beginning on December 31,
1997.
/s/ John Crandall 12/22/97
_______________________________ ______________
**Signature of Reporting Person Date
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 10011 and 15 U.S.C. 78ff(a)
Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient,
See Instruction 6 for procedure.
