<ARTICLE> 5
<LEGEND>
The schedule contains summary financial information extracted from 1626 New York
Associates Limited Partnership and is qualified in its entirety by reference to
such financial statements 
</LEGEND>
<MULTIPLIER>      1
       
                                       
<PERIOD-TYPE>                             6-MOS
<FISCAL-YEAR-END>                         DEC-31-1997
<PERIOD-START>                            JAN-01-1997
<PERIOD-END>                              JUN-30-1997
<CASH>                                       7,444,000 <F1>
<SECURITIES>                                         0
<RECEIVABLES>                                1,439,000
<ALLOWANCES>                                  (638,000)
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                     270,531,000
<DEPRECIATION>                            (135,893,000)
<TOTAL-ASSETS>                             162,992,000
<CURRENT-LIABILITIES>                                0
<BONDS>                                    288,235,000 <F2>
<COMMON>                                             0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                (136,044,000)
<TOTAL-LIABILITY-AND-EQUITY>               162,992,000
<SALES>                                              0
<TOTAL-REVENUES>                            18,719,000
<CGS>                                                0
<TOTAL-COSTS>                               17,511,000
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                          13,509,000
<INCOME-PRETAX>                            (12,262,000)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (12,262,000)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (12,262,000)
<EPS-PRIMARY>                                (8,750.00)
<EPS-DILUTED>                                (8,750.00)
<FN>
<F1> Cash includes $7,062,000 of restricted cash.
<F2> Includes accrued interest of $47,504,000.
</FN>