<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-31-1998
<PERIOD-START>                                          JAN-01-1998
<PERIOD-END>                                            JUN-30-1998
<CASH>                                                    6,090,000 <F1>
<SECURITIES>                                                      0
<RECEIVABLES>                                               684,000
<ALLOWANCES>                                               (315,000)
<INVENTORY>                                                       0
<CURRENT-ASSETS>                                                  0
<PP&E>                                                  215,118,000
<DEPRECIATION>                                         (106,483,000)
<TOTAL-ASSETS>                                          140,296,000
<CURRENT-LIABILITIES>                                             0
<BONDS>                                                 268,019,000 <F2>
<COMMON>                                                          0
<PREFERRED-MANDATORY>                                             0
<PREFERRED>                                                       0
<OTHER-SE>                                             (136,755,000)
<TOTAL-LIABILITY-AND-EQUITY>                            140,296,000
<SALES>                                                           0
<TOTAL-REVENUES>                                         35,292,000 <F3>
<CGS>                                                             0
<TOTAL-COSTS>                                            13,750,000
<OTHER-EXPENSES>                                                  0
<LOSS-PROVISION>                                                  0
<INTEREST-EXPENSE>                                       12,544,000
<INCOME-PRETAX>                                           8,695,000
<INCOME-TAX>                                                      0
<INCOME-CONTINUING>                                      8,695,000
<DISCONTINUED>                                                   0
<EXTRAORDINARY>                                                  0
<CHANGES>                                                        0
<NET-INCOME>                                             8,695,000
<EPS-PRIMARY>                                             6,720.90
<EPS-DILUTED>                                             6,720.90
<FN>
<F1>       Cash includes $5,964,000 of restricted cash.
<F2>       Includes accrued interest of $57,713,000.
<F3>       Revenues include gain on sale of property of $17,046,000.
</FN>