ATLANTIC REALTY TRUST
3, 1996-05-17
REAL ESTATE INVESTMENT TRUSTS
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<PAGE>
                    U.S. SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                    FORM 3

            INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

      Filed pursuant to Section 16(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

      Pashcow Joel M.
      (Last)                  (First)                (Middle)

      c/o Atlantic Realty Trust, 747 Third Avenue
                             (Street)

      New York               New York                  10017
      (City)                  (State)                  (Zip)



2.    Date of Event Requiring Statement
      (Month/Day/Year)

      05/10/96

3.    IRS or Social Security Number of Reporting Person
      (Voluntary)



4.    Issuer Name and Ticker or Trading Symbol

      Atlantic Realty Trust (ATLRS)*

5.    Relationship of Reporting Person to Issuer
                  (Check all applicable)

      _______ Director                                      10% Owner
         X    Officer (give title below)           X        Other (specify
      -------                                   -------     below)


                        Chairman, President and Trustee
                        -------------------------------

6.    If Amendment, Date of Original (Month/Day/Year)

________________

* The trading symbol will be "ATLRV" during "when-issued" trading.


 338954.1 

<PAGE>



<TABLE>
                     TABLE I - Non-Derivative Securities Beneficially Owned

<CAPTION>
1.  Title of Security               2.  Amount of         3.  Ownership           4.  Nature of
    (Instr.4)                           Securities            Form:  Direct           Indirect
                                        Beneficially          (D) or                  Beneficial
                                        Owned                 Indirect (I)            Ownership
                                        (Instr.4)             (Instr.5)               (Instr.5)
- -------------------------------------------------------------------------------------------------------
<C>                                 <C>                   <C>                     <C>          
Shares of Beneficial Interest,
$0.01 par value                     93,154 (1)            (D) 19,602              See footnote no. 1 below.
per share                                                 (I) 25,890
                                                          (I) 47,662
- -------------------------------------------------------------------------------------------------------

- -------------------------------------------------------------------------------------------------------
</TABLE>





<TABLE>
TABLE II -     Derivative Securities Beneficially Owned (e.g., puts, calls,
               warrants, options, convertible securities)

<CAPTION>
1.  Title of       2.  Date Exer-         3.  Title and               4. Con-         5. Owner-      6. Na-
    Deriva-            cisable and            Amount of Sec-          version         ship Form      ture
    tive               Expiration             urities Under-          or Exer-        of Deri-       of In-
    Security           Date                   lying Deriva-           cise            vative         direct
    (Instr.4)          (Month/Day/Year)       tive Security           Price of        Security:      Bene-
                                              (Instr.4)               Deri-           Direct         ficial
                                                                      vative          (D) or         Owner-
                                                                      Security        Indirect       ship
                                                                                      (I)            (Instr
                                                                                      (Instr.5)      .5)
                  ---------------------------------------------------
                   Date        Expir-          Title       Amount
                   Exer-       ation                       Or
                   cis-        Date                        Number
                   able                                    of
                                                           Shares
- ---------------------------------------------------------------------------------------------------------------
<C>                <C>                    <C>                         <C>             <C>            <C>   

- ---------------------------------------------------------------------------------------------------------------

- ---------------------------------------------------------------------------------------------------------------
</TABLE>




Explanation of Responses:

1.  The number of shares beneficially owned by Mr. Pashcow (93,154) includes
    25,890 shares held in an IRA account for the benefit of Mr. Pashcow, a
    retirement savings plan, a pension and profit sharing account and a money
    purchase plan, 47,662 shares owned by an irrevocable trust of which Mr.
    Pashcow is a trustee, an irrevocable trust for his daughter and a
    foundation of which Mr. Pashcow is a trustee (for all of which trusts Mr.
    Pashcow has shared voting and investment powers).  Joel Pashow disclaims
    beneficial ownership of the shares owned by the foundation and each of the
    trusts.
    

     /s/ Joel M. Pashcow                                      May 17, 1996
     **Signature of Reporting Person                              Date


**    Intentional misstatements or omissions of facts constitute Federal
      Criminal Violations.  See 18 U.S.C. 1001 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.


 338954.1 
<PAGE>



                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 3

             INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

     Filed pursuant to Section 16(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

      Goldberg                 Arthur                   H.
      (Last)                  (First)                (Middle)

      c/o Manhattan Associates, LLC
      375 Park Avenue, Suite 1606
                             (Street)

      New York               New York                  10022
      (City)                  (State)                  (Zip)



2.    Date of Event Requiring Statement
      (Month/Day/Year)

      05/10/96

3.    IRS or Social Security Number of Reporting Person
      (Voluntary)



4.    Issuer Name and Ticker or Trading Symbol

      Atlantic Realty Trust (ATLRS)*

5.    Relationship of Reporting Person to Issuer
                  (Check all applicable)

      _______ Director                          -------    10% Owner
      _______ Officer (give title below)           X       Other (specify below)
                                                -------


                                         Trustee
                                         -------
6.    If Amendment, Date of Original (Month/Day/Year)

________________

* The trading symbol will be "ATLRV" during "when-issued" trading.

 338954.1 

<PAGE>



<TABLE>
                     TABLE I - Non-Derivative Securities Beneficially Owned

<CAPTION>
1.  Title of Security               2.  Amount of         3.  Ownership           4.  Nature of
    (Instr.4)                           Securities            Form:  Direct           Indirect
                                        Beneficially          (D) or                  Beneficial
                                        Owned                 Indirect (I)            Ownership
                                        (Instr.4)             (Instr.5)               (Instr.5)
- -------------------------------------------------------------------------------------------------------
<S>                                 <C>                   <C>                     <C>                 
Shares of Beneficial Interest,      24,487 (1)            (I) 19,563                  See footnote no. 1 below
$0.01 par value per share                                 (I) 1,875
                                                          (I) 3,050
- -------------------------------------------------------------------------------------------------------
</TABLE>




<TABLE>
TABLE II -     Derivative Securities Beneficially Owned (e.g., puts, calls,
               warrants, options, convertible securities)

<CAPTION>
1.  Title of       2.  Date Exer-         3.  Title and               4. Con-         5. Owner-      6. Na-
    Deriva-            cisable and            Amount of Sec-          version         ship Form      ture
    tive               Expiration             urities Under-          or Exer-        of Deri-       of In-
    Security           Date                   lying Deriva-           cise            vative         direct
    (Instr.4)          (Month/Day/Year)       tive Security           Price of        Security:      Bene-
                                              (Instr.4)               Deri-           Direct         ficial
                                                                      vative          (D) or         Owner-
                                                                      Security        Indirect       ship
                                                                                      (I)            (Instr
                                                                                      (Instr.5)      .5)
                  ---------------------------------------------------
                   Date        Expir-          Title       Amount
                   Exer-       ation                       Or
                   cis-        Date                        Number
                   able                                    of
                                                           Shares
- ---------------------------------------------------------------------------------------------------------------
<C>                <C>                    <C>                         <C>             <C>            <C>   

- ---------------------------------------------------------------------------------------------------------------

- ---------------------------------------------------------------------------------------------------------------

</TABLE>



Explanation of Responses:

1.  The number of shares beneficially owned by Mr. Goldberg (24,487) includes
    19,563 shares owned by Mr. Goldberg's wife, 1,875 shares owned by trusts
    for his daughters and 3,050 shares owned by a pension trust.  Mr. Goldberg
    disclaims beneficial ownership of the shares owned by his wife and the
    trusts for his daughters.

                    /s/ Arthur H. Goldberg                  May 17, 1996
                    **Signature of Reporting Person             Date

**    Intentional misstatements or omissions of facts constitute Federal
      Criminal Violations.  See 18 U.S.C. 1001 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.

 338954.1 

<PAGE>



                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 3

             INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

     Filed pursuant to Section 16(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

      Liechtung               Herbert
      (Last)                  (First)                (Middle)

      5500 Collins Avenue
                                   (Street)

      Miami Beach             Florida                  33140
      (City)                  (State)                  (Zip)



2.    Date of Event Requiring Statement
      (Month/Day/Year)

      05/10/96

3.    IRS or Social Security Number of Reporting Person
      (Voluntary)



4.    Issuer Name and Ticker or Trading Symbol

      Atlantic Realty Trust (ATLRS)*

5.    Relationship of Reporting Person to Issuer
                  (Check all applicable)

    _______ Director                          -------  10% Owner
    _______ Officer (give title below)           X     Other (specify below)
                                              -------


                                         Trustee
                                         -------
6.    If Amendment, Date of Original (Month/Day/Year)

_______________

* The trading symbol will be "ATLRV" during "when-issued" trading.

 338954.1 

<PAGE>



<TABLE>
                     TABLE I - Non-Derivative Securities Beneficially Owned

<CAPTION>
1.  Title of Security               2.  Amount of         3.  Ownership           4.  Nature of
    (Instr.4)                           Securities            Form:  Direct           Indirect
                                        Beneficially          (D) or                  Beneficial
                                        Owned                 Indirect (I)            Ownership
                                        (Instr.4)             (Instr.5)               (Instr.5)
- -------------------------------------------------------------------------------------------------------
<S>                                 <C>                   <C>                    <C>
Shares of Beneficial Interest,      47,280 (1)            (I) 26,023             See footnote no. 1 below
$0.01 par value per share                                 (I) 21,257
- -------------------------------------------------------------------------------------------------------

</TABLE>



<TABLE>

TABLE II -     Derivative Securities Beneficially Owned (e.g., puts, calls,
               warrants, options, convertible securities)

1.  Title of       2.  Date Exer-         3.  Title and               4. Con-         5. Owner-      6. Na-
    Deriva-            cisable and            Amount of Sec-          version         ship Form      ture
    tive               Expiration             urities Under-          or Exer-        of Deri-       of In-
    Security           Date                   lying Deriva-           cise            vative         direct
    (Instr.4)          (Month/Day/Year)       tive Security           Price of        Security:      Bene-
                                              (Instr.4)               Deri-           Direct         ficial
                                                                      vative          (D) or         Owner-
                                                                      Security        Indirect       ship
                                                                                      (I)            (Instr
                                                                                      (Instr.5)      .5)
                  ---------------------------------------------------
                   Date        Expir-          Title       Amount
                   Exer-       ation                       Or
                   cis-        Date                        Number
                   able                                    of
                                                           Shares
- ---------------------------------------------------------------------------------------------------------------
<C>                <C>                    <C>                         <C>             <C>            <C>   

- ---------------------------------------------------------------------------------------------------------------

- ---------------------------------------------------------------------------------------------------------------
</TABLE>




Explanation of Responses:

1.  The number of shares beneficially owned by Mr. Liechtung (47,280)
     includes 21,257 shares owned by Mr. Liechtung's wife, 26,023 shares
     held in an IRA account for the benefit of Mr. Liechtung and a retirement
     savings plan.  Mr. Liechtung disclaims beneficial ownership of the shares
     owned by his wife.

                     /s/ Herbert Liechtung                   May 17, 1996
                     **Signature of Reporting Person             Date

**    Intentional misstatements or omissions of facts constitute Federal
      Criminal Violations.  See 18 U.S.C. 1001 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.

 338954.1 

<PAGE>



                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 3

             INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

     Filed pursuant to Section 16(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

      Rosoff                  William                    A.
      (Last)                  (First)                (Middle)

      c/o Advanta Corporation
      300 Welsh Road, Building 5
                             (Street)

      Horsham                 Pennsylvania             19044
      (City)                  (State)                  (Zip)



2.    Date of Event Requiring Statement
      (Month/Day/Year)

      05/10/96

3.    IRS or Social Security Number of Reporting Person
      (Voluntary)



4.    Issuer Name and Ticker or Trading Symbol

      Atlantic Realty Trust (ATLRS)*

5.    Relationship of Reporting Person to Issuer
                  (Check all applicable)

      _______ Director                          -------   10% Owner
      _______ Officer (give title below)           X      Other (specify below)
                                                -------


                                          Trustee
                                          -------
6.    If Amendment, Date of Original (Month/Day/Year)

________________

* The trading symbol is "ATLRV" during "when-issued" trading.

 338954.1 

<PAGE>



<TABLE>
                     TABLE I - Non-Derivative Securities Beneficially Owned

<CAPTION>
1.  Title of Security               2.  Amount of         3.  Ownership           4.  Nature of
    (Instr.4)                           Securities            Form:  Direct           Indirect
                                        Beneficially          (D) or                  Beneficial
                                        Owned                 Indirect (I)            Ownership
                                        (Instr.4)             (Instr.5)               (Instr.5)
- -------------------------------------------------------------------------------------------------------
<S>                                 <C>                   <C>                     <C>
Shares of Beneficial Interest,      2,400 (1)             (D) 125                 See footnote no. 1 below.
par value $0.01 per share                                 (I) 2,275
- -------------------------------------------------------------------------------------------------------

- -------------------------------------------------------------------------------------------------------
</TABLE>





<TABLE>
TABLE II -     Derivative Securities Beneficially Owned (e.g., puts, calls,
               warrants, options, convertible securities)

<CAPTION>
1.  Title of       2.  Date Exer-         3.  Title and               4. Con-         5. Owner-      6. Na-
    Deriva-            cisable and            Amount of Sec-          version         ship Form      ture
    tive               Expiration             urities Under-          or Exer-        of Deri-       of In-
    Security           Date                   lying Deriva-           cise            vative         direct
    (Instr.4)          (Month/Day/Year)       tive Security           Price of        Security:      Bene-
                                              (Instr.4)               Deri-           Direct         ficial
                                                                      vative          (D) or         Owner-
                                                                      Security        Indirect       ship
                                                                                      (I)            (Instr
                                                                                      (Instr.5)      .5)
                  ---------------------------------------------------
                   Date        Expir-          Title       Amount
                   Exer-       ation                       Or
                   cis-        Date                        Number
                   able                                    of
                                                           Shares
- ---------------------------------------------------------------------------------------------------------------
<C>                <C>                    <C>                         <C>             <C>            <C>   

- ---------------------------------------------------------------------------------------------------------------

- ---------------------------------------------------------------------------------------------------------------
</TABLE>



Explanation of Responses:

1.  The number of shares beneficially owned by Mr. Rosoff (2,400) includes
    2,275 shares held by Mr. Rosoff as trustee for his sister, Barbara Rosoff,
    pursuant to a trust indenture dated December 30, 1991.

                    /s/ William A. Rosoff                   May 17, 1996
                    **Signature of Reporting Person             Date

**    Intentional misstatements or omissions of facts constitute Federal
      Criminal Violations.  See 18 U.S.C. 1001 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.

 338954.1 

<PAGE>



                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 3

             INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

     Filed pursuant to Section 16(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

      Blumenfeld              Edward  
      (Last)                  (First)                (Middle)

      c/o Blumenfeld Development Group, Ltd.
      6800 Jericho Turnpike, Suite 102 East
                             (Street)

      Syosset                New York                  11791
      (City)                  (State)                  (Zip)



2.    Date of Event Requiring Statement
      (Month/Day/Year)

      05/10/96

3.    IRS or Social Security Number of Reporting Person
      (Voluntary)



4.    Issuer Name and Ticker or Trading Symbol

      Atlantic Realty Trust (ATLRS)*

5.    Relationship of Reporting Person to Issuer
                  (Check all applicable)

      _______ Director                          ------  10% Owner
                                                   X
      _______ Officer (give title below)        ------  Other (specify below)


                                         Trustee
                                         -------

6.    If Amendment, Date of Original (Month/Day/Year)



*    The trading symbol will be "ATLRV" during "when-issued" trading. 

 338954.1 

<PAGE>



<TABLE>
                     TABLE I - Non-Derivative Securities Beneficially Owned

<CAPTION>
1.  Title of Security               2.  Amount of         3.  Ownership           4.  Nature of
    (Instr.4)                           Securities            Form:  Direct           Indirect
                                        Beneficially          (D) or                  Beneficial
                                        Owned                 Indirect (I)            Ownership
                                        (Instr.4)             (Instr.5)               (Instr.5)
- -------------------------------------------------------------------------------------------------------
<S>                                 <C>                   <C>                     <C>
Shares of Beneficial Interest,      125                    (D) 125
$0.01 par value per share
- -------------------------------------------------------------------------------------------------------

- -------------------------------------------------------------------------------------------------------
</TABLE>





<TABLE>
TABLE II -     Derivative Securities Beneficially Owned (e.g., puts, calls,
               warrants, options, convertible securities)

<CAPTION>
1.  Title of       2.  Date Exer-         3.  Title and               4. Con-         5. Owner-      6. Na-
    Deriva-            cisable and            Amount of Sec-          version         ship Form      ture
    tive               Expiration             urities Under-          or Exer-        of Deri-       of In-
    Security           Date                   lying Deriva-           cise            vative         direct
    (Instr.4)          (Month/Day/Year)       tive Security           Price of        Security:      Bene-
                                              (Instr.4)               Deri-           Direct         ficial
                                                                      vative          (D) or         Owner-
                                                                      Security        Indirect       ship
                                                                                      (I)            (Instr
                                                                                      (Instr.5)      .5)
                  ---------------------------------------------------
                   Date        Expir-          Title       Amount
                   Exer-       ation                       Or
                   cis-        Date                        Number
                   able                                    of
                                                           Shares
- ---------------------------------------------------------------------------------------------------------------
<C>                <C>                    <C>                         <C>             <C>            <C>   

- ---------------------------------------------------------------------------------------------------------------

- ---------------------------------------------------------------------------------------------------------------
</TABLE>




                     /s/ Edward Blumenfeld                   May 17, 1996
                     **Signature of Reporting Person             Date

**    Intentional misstatements or omissions of facts constitute Federal
      Criminal Violations.  See 18 U.S.C. 1001 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.


 338954.1 

<PAGE>



                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 3

             INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

     Filed pursuant to Section 16(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

      Stalford                 Alfred                   D.
      (Last)                  (First)                (Middle)

      120 S.E. Fifth Avenue,
      Apartment 433
                                   (Street)

      Boca Raton               FL.                     33432
      (City)                  (State)                  (Zip)



2.    Date of Event Requiring Statement
      (Month/Day/Year)

      05/10/96

3.    IRS or Social Security Number of Reporting Person
      (Voluntary)



4.    Issuer Name and Ticker or Trading Symbol

      Atlantic Realty Trust (ATLRS)*

5.    Relationship of Reporting Person to Issuer
                  (Check all applicable)

      _______ Director                           -------   10% Owner
                                                     X
      _______ Officer (give title below)         -------  Other (specify below)


                                    Trustee
                                    -------

6.    If Amendment, Date of Original (Month/Day/Year)

____________________

*    The trading symbol will be "ATLRV" during "when-issued" trading. 

 338954.1 

<PAGE>



<TABLE>
                     TABLE I - Non-Derivative Securities Beneficially Owned

<CAPTION>
1.  Title of Security               2.  Amount of         3.  Ownership           4.  Nature of
    (Instr.4)                           Securities            Form:  Direct           Indirect
                                        Beneficially          (D) or                  Beneficial
                                        Owned                 Indirect (I)            Ownership
                                        (Instr.4)             (Instr.5)               (Instr.5)
- -------------------------------------------------------------------------------------------------------
<S>                                 <C>                   <C>                     <C>          
Shares of Beneficial Interest,                            (I) 375
$0.01 par value per share            500*                 (D) 125               See footnote no. 1 below.
- -------------------------------------------------------------------------------------------------------

- -------------------------------------------------------------------------------------------------------
</TABLE>





<TABLE>
TABLE II -     Derivative Securities Beneficially Owned (e.g., puts, calls,
               warrants, options, convertible securities)

<CAPTION>
1.  Title of       2.  Date Exer-         3.  Title and               4. Con-         5. Owner-      6. Na-
    Deriva-            cisable and            Amount of Sec-          version         ship Form      ture
    tive               Expiration             urities Under-          or Exer-        of Deri-       of In-
    Security           Date                   lying Deriva-           cise            vative         direct
    (Instr.4)          (Month/Day/Year)       tive Security           Price of        Security:      Bene-
                                              (Instr.4)               Deri-           Direct         ficial
                                                                      vative          (D) or         Owner-
                                                                      Security        Indirect       ship
                                                                                      (I)            (Instr
                                                                                      (Instr.5)      .5)
                  ---------------------------------------------------
                   Date        Expir-          Title       Amount
                   Exer-       ation                       Or
                   cis-        Date                        Number
                   able                                    of
                                                           Shares
- ---------------------------------------------------------------------------------------------------------------
<S>                <C>                    <C>                         <C>             <C>            <C>   

- ---------------------------------------------------------------------------------------------------------------

- ---------------------------------------------------------------------------------------------------------------
</TABLE>




Explanation of Responses:

1.    The number of shares beneficially owned by Mr. Stalford (500) includes 
      375 shares held in a rollover IRA account for which Mr. Stalford has sole 
      voting and investment power.


                    /s/ Alfred D. Stalford                  May 17, 1996
                    **Signature of Reporting Person             Date

**    Intentional misstatements or omissions of facts constitute Federal
      Criminal Violations.  See 18 U.S.C. 1001 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.


 338954.1 

<PAGE>



                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 3

             INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

     Filed pursuant to Section 16(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

      Blank                   Stephen                   R.
      (Last)                  (First)                (Middle)

      c/o Oppenheimer & Co., Inc.
      Oppenheimer Tower, 39th Floor
      World Financial Center
                             (Street)

      New York               New York                  10281
      (City)                  (State)                  (Zip)



2.    Date of Event Requiring Statement
      (Month/Day/Year)

      05/10/96

3.    IRS or Social Security Number of Reporting Person
      (Voluntary)



4.    Issuer Name and Ticker or Trading Symbol

      Atlantic Realty Trust (ATLRS)*

5.    Relationship of Reporting Person to Issuer
                  (Check all applicable)

      _______ Director                         ------   10% Owner
                                                  X
      _______ Officer (give title below)       ------   Other (specify below)



                                        Trustee
                                        -------
6.    If Amendment, Date of Original (Month/Day/Year)




 338954.1 

__________________

*    The Trading symbol will be "ATLRV" during "when-issued" trading.
<PAGE>



<TABLE>
                     TABLE I - Non-Derivative Securities Beneficially Owned

<CAPTION>
1.  Title of Security               2.  Amount of         3.  Ownership           4.  Nature of
    (Instr.4)                           Securities            Form:  Direct           Indirect
                                        Beneficially          (D) or                  Beneficial
                                        Owned                 Indirect (I)            Ownership
                                        (Instr.4)             (Instr.5)               (Instr.5)
- -------------------------------------------------------------------------------------------------------
<S>                                 <C>                   <C>                     <C>          
Shares of Beneficial Interest,      981*                  (I) 706                See footnote no. 1 below.
$0.01 par value per share                                 (I) 275
- -------------------------------------------------------------------------------------------------------

- -------------------------------------------------------------------------------------------------------
</TABLE>





<TABLE>
TABLE II -     Derivative Securities Beneficially Owned (e.g., puts, calls,
               warrants, options, convertible securities)

<CAPTION>
1.  Title of       2.  Date Exer-         3.  Title and               4. Con-         5. Owner-      6. Na-
    Deriva-            cisable and            Amount of Sec-          version         ship Form      ture
    tive               Expiration             urities Under-          or Exer-        of Deri-       of In-
    Security           Date                   lying Deriva-           cise            vative         direct
    (Instr.4)          (Month/Day/Year)       tive Security           Price of        Security:      Bene-
                                              (Instr.4)               Deri-           Direct         ficial
                                                                      vative          (D) or         Owner-
                                                                      Security        Indirect       ship
                                                                                      (I)            (Instr
                                                                                      (Instr.5)      .5)
                  ---------------------------------------------------
                   Date        Expir-          Title       Amount
                   Exer-       ation                       Or
                   cis-        Date                        Number
                   able                                    of
                                                           Shares
- ---------------------------------------------------------------------------------------------------------------
<S>                <C>                    <C>                         <C>             <C>            <C>   

- ---------------------------------------------------------------------------------------------------------------

- ---------------------------------------------------------------------------------------------------------------
</TABLE>




Explanation of Responses:

1.    The number of shares beneficially owned by Mr. Blank (981) includes 706
      shares owned by trusts for Mr. Blank's daughters and 275 shares held in 
      an IRA account for the benefit of Mr. Blank.  Mr. Blank disclaims 
      beneficial ownership of the shares owned by the trusts for his daughters.



                    /s/ Stephen R. Blank                      May 17, 1996
                    **Signature of Reporting Person               Date

**    Intentional misstatements or omissions of facts constitute Federal
      Criminal Violations.  See 18 U.S.C. 1001 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.


 338954.1 

<PAGE>



                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 3

             INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

     Filed pursuant to Section 16(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

      Frankel                  Edwin                     R.
      (Last)                  (First)                (Middle)

      c/o Atlantic Realty Trust
      747 Third Avenue
                                   (Street)

      New York               New York                  10017
      (City)                  (State)                  (Zip)



2.    Date of Event Requiring Statement
      (Month/Day/Year)

      05/10/96

3.    IRS or Social Security Number of Reporting Person
      (Voluntary)



4.    Issuer Name and Ticker or Trading Symbol

      Atlantic Realty Trust (ATLRS)*

5.    Relationship of Reporting Person to Issuer
                  (Check all applicable)

      _______ Director                      -------    10% Owner

         X                                     X
      -------  Officer (give title below)   -------    Other (specify below)


        Executive Vice President, Chief Financial Officer and Secretary
        ---------------------------------------------------------------

6.    If Amendment, Date of Original (Month/Day/Year)

 338954.1 


___________________

*    The trading symbol will be "ATLRV" during "when-issued" trading. 
<PAGE>



<TABLE>
                     TABLE I - Non-Derivative Securities Beneficially Owned

<CAPTION>
1.  Title of Security               2.  Amount of         3.  Ownership           4.  Nature of
    (Instr.4)                           Securities            Form:  Direct           Indirect
                                        Beneficially          (D) or                  Beneficial
                                        Owned                 Indirect (I)            Ownership
                                        (Instr.4)             (Instr.5)               (Instr.5)
- -------------------------------------------------------------------------------------------------------
<S>                                 <C>                   <C>                     <C>          
None

- -------------------------------------------------------------------------------------------------------

- -------------------------------------------------------------------------------------------------------

</TABLE>




<TABLE>
TABLE II -     Derivative Securities Beneficially Owned (e.g., puts, calls,
               warrants, options, convertible securities)

<CAPTION>
1.  Title of       2.  Date Exer-         3.  Title and               4. Con-         5. Owner-      6. Na-
    Deriva-            cisable and            Amount of Sec-          version         ship Form      ture
    tive               Expiration             urities Under-          or Exer-        of Deri-       of In-
    Security           Date                   lying Deriva-           cise            vative         direct
    (Instr.4)          (Month/Day/Year)       tive Security           Price of        Security:      Bene-
                                              (Instr.4)               Deri-           Direct         ficial
                                                                      vative          (D) or         Owner-
                                                                      Security        Indirect       ship
                                                                                      (I)            (Instr
                                                                                      (Instr.5)      .5)
                  ---------------------------------------------------
                   Date        Expir-          Title       Amount
                   Exer-       ation                       Or
                   cis-        Date                        Number
                   able                                    of
                                                           Shares
- ---------------------------------------------------------------------------------------------------------------
<S>                <C>                    <C>                         <C>             <C>            <C>   

- ---------------------------------------------------------------------------------------------------------------

- ---------------------------------------------------------------------------------------------------------------
</TABLE>



                     /s/ Edwin R. Frankel                     May 17, 1996
                     **Signature of Reporting Person              Date

**    Intentional misstatements or omissions of facts constitute Federal
      Criminal Violations.  See 18 U.S.C. 1001 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.


 338954.1 

<PAGE>



                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 3

             INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

     Filed pursuant to Section 16(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

      Glickman                Edwin                      J.
      (Last)                  (First)                (Middle)

      c/o Capital Lease Funding Corp.
      85 John Street, 12th Floor
                             (Street)

      New York                  NY                     10038 
      (City)                  (State)                  (Zip)



2.    Date of Event Requiring Statement
      (Month/Day/Year)

      05/10/96

3.    IRS or Social Security Number of Reporting Person
      (Voluntary)



4.    Issuer Name and Ticker or Trading Symbol

      Atlantic Realty Trust (ATLRS)*

5.    Relationship of Reporting Person to Issuer
                  (Check all applicable)

      _______ Director                      -------     10% Owner
                                               X      
      _______ Officer (give title below)    -------     Other (specify below)


                                         Trustee
                                         -------
6.    If Amendment, Date of Original (Month/Day/Year)

 338954.1 

_____________________

*    The trading symbol will be "ATLRV" during "when-issued" trading.
<PAGE>



<TABLE>
                     TABLE I - Non-Derivative Securities Beneficially Owned

<CAPTION>
1.  Title of Security               2.  Amount of         3.  Ownership           4.  Nature of
    (Instr.4)                           Securities            Form:  Direct           Indirect
                                        Beneficially          (D) or                  Beneficial
                                        Owned                 Indirect (I)            Ownership
                                        (Instr.4)             (Instr.5)               (Instr.5)
- -------------------------------------------------------------------------------------------------------
<S>                                 <C>                   <C>                     <C>          
None
- -------------------------------------------------------------------------------------------------------

- -------------------------------------------------------------------------------------------------------
</TABLE>





<TABLE>
TABLE II -     Derivative Securities Beneficially Owned (e.g., puts, calls,
               warrants, options, convertible securities)

<CAPTION>
1.  Title of       2.  Date Exer-         3.  Title and               4. Con-         5. Owner-      6. Na-
    Deriva-            cisable and            Amount of Sec-          version         ship Form      ture
    tive               Expiration             urities Under-          or Exer-        of Deri-       of In-
    Security           Date                   lying Deriva-           cise            vative         direct
    (Instr.4)          (Month/Day/Year)       tive Security           Price of        Security:      Bene-
                                              (Instr.4)               Deri-           Direct         ficial
                                                                      vative          (D) or         Owner-
                                                                      Security        Indirect       ship
                                                                                      (I)            (Instr
                                                                                      (Instr.5)      .5)
                  ---------------------------------------------------
                   Date        Expir-          Title       Amount
                   Exer-       ation                       Or
                   cis-        Date                        Number
                   able                                    of
                                                           Shares
- ---------------------------------------------------------------------------------------------------------------
<S>                <C>                    <C>                         <C>             <C>            <C>   

- ---------------------------------------------------------------------------------------------------------------

- ---------------------------------------------------------------------------------------------------------------
</TABLE>


                    /s/ Edwin J. Glickman                    May 17, 1996
                    **Signature of Reporting Person              Date

**    Intentional misstatements or omissions of facts constitute Federal
      Criminal Violations.  See 18 U.S.C. 1001 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.


 338954.1 

<PAGE>



                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 3

             INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

     Filed pursuant to Section 16(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

      Eisenstat                Samuel                   M.
      (Last)                  (First)                (Middle)

      430 East 86th Street
                             (Street)

      New York                  NY                     10028
      (City)                  (State)                  (Zip)



2.    Date of Event Requiring Statement
      (Month/Day/Year)

      05/10/96

3.    IRS or Social Security Number of Reporting Person
      (Voluntary)



4.    Issuer Name and Ticker or Trading Symbol

      Atlantic Realty Trust (ATLRS)*

5.    Relationship of Reporting Person to Issuer
                  (Check all applicable)

      _______ Director                      ---------      10% Owner
                                                X
      _______ Officer (give title below)    ---------      Other (specify below)


                                          Trustee
                                          -------
6.    If Amendment, Date of Original (Month/Day/Year)


 338954.1 

_____________________

*    The trading symbol will be "ATLRV" during "when-issued" trading. 
<PAGE>



<TABLE>
                     TABLE I - Non-Derivative Securities Beneficially Owned

<CAPTION>
1.  Title of Security               2.  Amount of         3.  Ownership           4.  Nature of
    (Instr.4)                           Securities            Form:  Direct           Indirect
                                        Beneficially          (D) or                  Beneficial
                                        Owned                 Indirect (I)            Ownership
                                        (Instr.4)             (Instr.5)               (Instr.5)
- -------------------------------------------------------------------------------------------------------
<S>                                 <C>                   <C>                     <C>          
Shares of Beneficial Interest,       125                  (I) 125                 See footnote no. 1 below
$0.01 par value per share
- -------------------------------------------------------------------------------------------------------

- -------------------------------------------------------------------------------------------------------
</TABLE>





<TABLE>
TABLE II -     Derivative Securities Beneficially Owned (e.g., puts, calls,
               warrants, options, convertible securities)

<CAPTION>
1.  Title of       2.  Date Exer-         3.  Title and               4. Con-         5. Owner-      6. Na-
    Deriva-            cisable and            Amount of Sec-          version         ship Form      ture
    tive               Expiration             urities Under-          or Exer-        of Deri-       of In-
    Security           Date                   lying Deriva-           cise            vative         direct
    (Instr.4)          (Month/Day/Year)       tive Security           Price of        Security:      Bene-
                                              (Instr.4)               Deri-           Direct         ficial
                                                                      vative          (D) or         Owner-
                                                                      Security        Indirect       ship
                                                                                      (I)            (Instr
                                                                                      (Instr.5)      .5)
                  ---------------------------------------------------
                   Date        Expir-          Title       Amount
                   Exer-       ation                       Or
                   cis-        Date                        Number
                   able                                    of
                                                           Shares
- ---------------------------------------------------------------------------------------------------------------
<S>                <C>                    <C>                         <C>             <C>            <C>   


- ---------------------------------------------------------------------------------------------------------------

- ---------------------------------------------------------------------------------------------------------------
</TABLE>




Explanation of Responses:

1.    The number of shares beneficially owned by Mr. Eisenstat includes 125 
      shares held in an IRA account for which Mr. Einstat has sole voting
      and investment power.



                  /s/ Samuel M. Eisenstat              May 17, 1996
                  ** Signature of Reporting Person        Date

**    Intentional misstatements or omissions of facts constitute Federal
      Criminal Violations.  See 18 U.S.C. 1001 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.


 338954.1 



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