PRESIDENTIAL REALTY CORPORATION                          EXHIBIT 99.1
180 SOUTH BROADWAY
WHITE PLAINS, NY 10605
914-948-1300







                                                     FOR IMMEDIATE RELEASE
                                                     White Plains, New York
                                                     December 27, 2004


Jeffrey Joseph, President of Presidential Realty Corporation, a real estate
investment trust whose shares are traded on the American Stock Exchange (PDLA
and PDLB), announced today that on December 23, 2004 Presidential made a
$7,500,000 mezzanine loan to an affiliate of The Lightstone Group
("Lightstone"). The loan is secured by the ownership interests in the entities
owning the Brazos Mall, an enclosed single story regional mall located in Lake
Jackson, Texas with 697,678 square feet of rentable area, and the Shawnee Mall,
an enclosed single story regional mall located in Shawnee, Oklahoma with 445,657
square feet of rentable area (the "Properties"). The loan has a term of 10 years
and bears interest at the rate of 11% per annum. In connection with the loan,
Presidential Realty obtained a 29% economic interest in the companies owning the
Properties. The Properties are subject to a first mortgage loan from Wachovia
Bank, National Association in the original principal amount of $39,500,000.

Mr. Joseph stated that Presidential was pleased to be able to complete another
transaction with Lightstone. In September of this year the Company invested a
total of $10,038,410 with Lightstone relating to five other regional shopping
mall properties. In addition, Presidential has another $9,875,000 of loans
outstanding from Lightstone secured by a number of apartment properties. All of
these loans are in good standing.


Certain statements in this release that are not historical fact may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements are based on management's
current expectations and beliefs and are subject to a number of factors and
uncertainties that could cause actual results to differ materially from those
described in the forward-looking statements. The following factors, among
others, could cause actual results to differ materially from those described in
the forward-looking statements: trends and uncertainties in the general economic
climate; the supply of and demand for residential and commercial properties;
interest rate levels; the availability of financing and other risks associated
with the development and acquisition of properties. Additional factors that
could cause Presidential's results to differ materially from those described in
the forward-looking statements can be found in the 2003 Annual Report on Form
10-K. The Company expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements contained
herein to reflect any changes in the Company's expectations with regard thereto
or change in events, conditions or circumstances on which any such statement is
based.

For further information contact:
Jeffrey F. Joseph, President
Presidential Realty Corporation
at the above address and telephone number