Exhibit 99.1

                                      G&L
                                      ---
                                 REALTY CORP.
                                     NEWS

RELEASE:                                  CONTACT:
Immediate                                 David Hamer   310-273-9930
                                          E-mail:dhamer@glrealty.com

              G&L REALTY CORP. ANNOUNCES THAT SPECIAL COMMITTEE
              -------------------------------------------------
                    DECLINES LATEST WEISMAN GROUP PROPOSAL
                    --------------------------------------

BEVERLY HILLS, California, September 20, 2001. G&L Realty Corp. (NYSE: GLR)
announced that the special committee of its board of directors has advised Lyle
Weisman and his associates (the "Weisman Group") that it cannot recommend the
Weisman Group's latest proposal dated September 17, 2001, because it is not in
the form of a definitive acquisition agreement executed by the Weisman Group,
which becomes immediately binding upon execution and delivery to the Weisman
Group by the Company and which is accompanied by a deposit of $2.5 million.  The
body of the special committee's letter to the Weisman Group follows:

     The Special Committee (the "Committee") of the Board of Directors of G & L
     Realty Corp. (the "Company") is in receipt of and has considered your
     proposal, dated June 5, 2001, as amended by your letters dated June 22,
     2001, July 6, 2001, July 30, 2001, August 21, 2001, September 5, 2001 and
     September 17, 2001 (the "WGFK Proposal"). We note the implicit criticisms
     imbedded in your most recent letter, and take strong exception to any
     implication that we are doing anything other than what is required of us as
     the directors of a Maryland corporation.

     As you know, we now have a transaction pursuant to a binding agreement,
     subject to stockholder approval, at $12.00 per share.   We received advice
     from Houlihan Lokey Howard & Zukin Financial Advisors, Inc. that the range
     of fairness for the Company's common stock is between $5.00 and $10.00.
     Under the terms of the Agreement and Plan of Merger, dated as of May 10,
     2001, between the Company and G & L Realty Acquisition, LLC (the "Merger
     Agreement"), that transaction must be consummated by October 15, 2001, or
     it will be lost to the stockholders of this Company.

     Given the totality of the circumstances facing the Company, including the
     now highly uncertain capital markets as well as the declining economy as a
     whole, it is our view as a Committee that we cannot consider any proposal
     from you unless that proposal is in the form of definitive acquisition
     agreement executed by you, which becomes immediately binding upon execution
     and delivery to you by the Company and which is

                               G&L Realty Corp.
                            Corporate Headquarters:
           439 North Bedford Drive, Beverly Hills, California 90210
                      Tel: 310-273-9930 Fax: 310-248-2222


     accompanied by a deposit of not less than $2.5 million. We have
     consistently communicated in our letters to you as well as in conversations
     with your counsel that the Committee is not prepared to take any action
     which would deprive stockholders of the benefits of the Merger Agreement
     and expose the Company to liability for the termination fees provided for
     in that Merger Agreement (which we have been informed by Messrs. Gottlieb
     and Lebowitz now exceed $2.7 million), unless the Merger Agreement could be
     simultaneously replaced by an alternative agreement and the payment of the
     $2.5 million deposit. You have, and have had for more than the past four
     months, a copy of the Merger Agreement. As we have previously indicated to
     you, that document could easily serve as a model for any offer you might
     want us to consider. Putting signature lines at the bottom of a letter does
     not elevate a mere proposal describing a possible transaction into a
     binding agreement -particularly where, as here, all of the obligations of
     the would be "offeror" are as a practical matter contingent upon the future
     negotiation, execution and delivery of a definitive acquisition agreement.

     The fact that you have over these many months never moved beyond the
     "proposal" stage nor provided a copy of your business plan to the Committee
     makes us doubt whether you really seek to acquire the common stock of the
     Company.  Alternatively, you are free to make such offer as you believe to
     be appropriate on such terms as you believe to be appropriate directly to
     the stockholders of the Company.

     We stand prepared to receive and to consider any offer that you might make
     that satisfies the above basic criteria.   Additionally, in light of the
     recent tragic events in our country and their impact on the capital
     markets, the Committee also requests that any further proposals from you be
     accompanied by an updated commitment letter evidencing your source of
     financing, dated after September 11, 2001.  We are not prepared to spend
     any time or Company resources considering any further "proposals"
     describing a possible transaction unless they are in the form of an offer
     capable of being accepted.

Founded in 1976, G&L Realty Corp. is a growth-oriented health care real estate
investment trust with four major areas of operation: the Medical Office Building
Division, the Skilled Nursing Facility Division, the Assisted Living Facility
Division and the Senior Care Lending Division.

This press release contains forward-looking statements.  These statements can be
identified by the use of forward-looking terminology such as "will,"
"anticipate," "contemplate" and "intend."  These statements represent the
Company's judgment concerning the future and are subject to risks and
uncertainties that could cause the proposed transactions described not to occur
in the manner or in the time frame indicated in this press release.  Factors
influencing the proposed transactions described in this press release, in
addition to the conditions referred to above, include, but are not limited to,
changes in the general economy, the supply of, and demand for, healthcare
related real estate in markets in which the Company has investments, the
availability of financing and governmental policies and regulations as well as
delays in obtaining approvals from stockholders, governmental authorities and
other third parties.
                                      ###

                               G&L Realty Corp.
                            Corporate Headquarters:
           439 North Bedford Drive, Beverly Hills, California 90210
                      Tel: 310-273-9930 Fax: 310-248-2222