<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>                           3-MOS
<FISCAL-YEAR-END>                 DEC-31-1999
<PERIOD-START>                    JAN-01-1999
<PERIOD-END>                      MAR-31-1999
<CASH>                              4,014,000 <F1>
<SECURITIES>                                0
<RECEIVABLES>                         257,000
<ALLOWANCES>                           85,000
<INVENTORY>                                 0
<CURRENT-ASSETS>                            0
<PP&E>                            101,125,000
<DEPRECIATION>                    (52,962,000)
<TOTAL-ASSETS>                     64,680,000
<CURRENT-LIABILITIES>                       0
<BONDS>                           171,823,000 <F2>
<COMMON>                                    0
<PREFERRED-MANDATORY>                       0
<PREFERRED>                                 0
<OTHER-SE>                       (110,647,000)
<TOTAL-LIABILITY-AND-EQUITY>       64,680,000
<SALES>                                     0
<TOTAL-REVENUES>                    3,200,000
<CGS>                                       0
<TOTAL-COSTS>                       3,110,000
<OTHER-EXPENSES>                            0
<LOSS-PROVISION>                            0
<INTEREST-EXPENSE>                  2,785,000
<INCOME-PRETAX>                    (2,732,000)
<INCOME-TAX>                                0
<INCOME-CONTINUING>                (2,732,000)
<DISCONTINUED>                              0
<EXTRAORDINARY>                             0
<CHANGES>                                   0
<NET-INCOME>                       (2,732,000)
<EPS-PRIMARY>                       (1,943.28)
<EPS-DILUTED>                       (1,943.28)
<FN>
<F1>  Cash includes $3,795,000 of restricted cash.
<F2>  Includes accrued interest of $65,762,000.
</FN>