SECURITIES AND EXCHANGE COMMISSION
                          WASHINGTON, D.C.  20549
                                                                 


                                 FORM 8-K
                              CURRENT REPORT

                  Pursuant to Section 13 or 15(d) of the 
                      Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) July 1, 1996

                             BRT REALTY TRUST
            (Exact name of registrant as specified in charter)

Massachusetts            I-7172                   13-2755856
(State or other     (Commission File No.)     (IRS Employer I.D.
No.)
jurisdiction of                                    
incorporation)

60 Cutter Mill Road, Suite 303, Great Neck, New York  11021  
(Address of principal executive office)                (Zip Code)

Registrant's telephone number, including area code (516) 466-3100





Item 5.   Other Events

     Registrant announced on July 2, 1996 that its Board of
Trustees has authorized the purchase from time to time over the
facilities of the New York Stock Exchange, or in private
transactions up to 250,000 shares of Beneficial Interest
of the Registrant.  The Registrant obtained the necessary
approval from the institutions which are parties to its restated
credit agreement to engage in this purchase program.

     On July 1, 1996 the Registrant received notice from Gould
Investors L.P. ("Gould"), the sole shareholder of its outstanding
preferred stock, that Gould has elected to convert the 1,030,000
shares of preferred stock held by it, in accordance with the
Trust's governing instruments, into 1,030,000 shares of
Beneficial Interest.  As a result of the conversion, Registrant
has 8,737,324 shares of Beneficial Interest outstanding.


                            Signatures

Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.


                                   BRT REALTY TRUST




Date:     July 2, 1996         By: Simeon Brinberg                
                                                        
                              --------------------------------
                              Simeon Brinberg
                              Senior Vice President