Exhibit 8.1

         [Robinson Silverman Pearce Aronsohn & Berman LLP Letterhead]


                                                        July 16, 1998

Kranzco Realty Trust
128 Fayette Street
Conshohocken, Pennsylvania 19428

Ladies and Gentlemen:

     We have acted as United States counsel to Kranzco Realty Trust, its
subsidiaries and affiliates (the "Company") in connection with the exchange
offer whereby the Company would acquire approximately 80% of the outstanding
stock of New America Network, Inc. in exchange for $8 million of the Company's
convertible subordinated notes, as more fully described in the Company's
Registration Statement on Form S-4 (Registration Number 333- 52743), as amended
(the "Registration Statement").

     We have examined originals or copies, certified or otherwise identified to
our satisfaction, of the Registration Statement and such corporate records,
agreements, documents and other instruments, and such certificates or
comparable documents of public officials and of officers and representatives of
the Company, and have made such inquiries of such officers and representatives,
as we have deemed relevant and necessary as a basis for the opinions
hereinafter set forth.

     In such examination, we have assumed the genuineness of all signatures,
the authenticity of all documents submitted to us as originals, the conformity
to original documents of all documents submitted to us as certified or
photostatic copies and to all questions of fact material to this opinion that
have not been independently established, we have relied upon certificates of
officers and representatives of the Company and upon the representations,
warranties and covenants of the Company.

     Based on the foregoing, and subject to the qualifications stated herein,
we are of the opinion that:

     The statements under the caption "Material United States Federal Tax
Considerations" in the Registration Statement, subject to the limitations set
forth therein, fairly summarize in all material respects the information
described therein.



Kranzco Realty Trust
July 16, 1998
Page 2

     The opinion herein is limited to the federal income tax laws of the United
States, and we express no opinion as to the effect on the matters covered by
this opinion of the laws of any other jurisdiction.

     We hereby consent to the filing of this opinion with the Securities and
Exchange Commission as an exhibit to the aforesaid Registration Statement and
to the use of our name therein. We hereby further consent to the use of this
opinion as an exhibit to filings with the securities commissioners of various
states of the United States as required by the securities laws of such states.

     This opinion is rendered solely for your benefit in connection with the
transactions described above. This opinion may not be used or relied upon by
any other person and may not be disclosed, quoted, filed with a governmental
agency or otherwise referred to without our prior written consent except as
noted above.

                                             Very truly yours,


                                             Robinson Silverman Pearce 
                                             Aronsohn & Berman LLP