<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>                                  9-MOS
<FISCAL-YEAR-END>                        DEC-31-1998
<PERIOD-START>                           JAN-01-1998
<PERIOD-END>                             SEP-30-1998
<CASH>                                     6,840,000 <F1>
<SECURITIES>                                       0
<RECEIVABLES>                                830,000
<ALLOWANCES>                                (315,000)
<INVENTORY>                                        0
<CURRENT-ASSETS>                                   0
<PP&E>                                   216,352,000
<DEPRECIATION>                          (108,762,000)
<TOTAL-ASSETS>                           141,801,000
<CURRENT-LIABILITIES>                              0
<BONDS>                                  275,072,000 <F2>
<PREFERRED>                                        0
<PREFERRED-MANDATORY>                              0
<COMMON>                                           0
<OTHER-SE>                              (142,262,000)
<TOTAL-LIABILITY-AND-EQUITY>             141,801,000
<SALES>                                            0
<TOTAL-REVENUES>                          43,821,000 <F3>
<CGS>                                              0
<TOTAL-COSTS>                             20,891,000
<OTHER-EXPENSES>                                   0
<LOSS-PROVISION>                                   0
<INTEREST-EXPENSE>                        19,223,000
<INCOME-PRETAX>                            3,188,000
<INCOME-TAX>                                       0
<INCOME-CONTINUING>                        3,188,000
<DISCONTINUED>                                     0
<EXTRAORDINARY>                                    0
<CHANGES>                                          0
<NET-INCOME>                               3,188,000
<EPS-PRIMARY>                               2,795.52
<EPS-DILUTED>                               2,795.52
<FN>
<F1>
Cash includes $6,701,000 of restricted cash.
<F2>
Includes accrued interest of $61,955,000.
<F3>
Revenues include gain on sale of property of $17,046,000.
</FN>