<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Multi
Benefit Realty Fund '87-1 1996 First Quarter 10-QSB and is qualified in its
entirety by reference to such 10-QSB filing.
</LEGEND>
<CIK> 0000802200
<NAME> MULTI-BENEFIT REALTY FUND '87-1
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                             992
<SECURITIES>                                       305
<RECEIVABLES>                                       48
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0<F1>
<PP&E>                                          23,125
<DEPRECIATION>                                   9,262
<TOTAL-ASSETS>                                  15,834
<CURRENT-LIABILITIES>                                0<F1>
<BONDS>                                         11,288
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                       3,684
<TOTAL-LIABILITY-AND-EQUITY>                    15,834
<SALES>                                              0
<TOTAL-REVENUES>                                 1,199
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 1,174
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 262
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                        25
<EPS-PRIMARY>                                      .14
<EPS-DILUTED>                                        0
<FN>
<F1>The Registrant has an unclassified balance sheet.
</FN>