Pricing Supplement dated October 9, 1996             Rule 424(b)(3)
(To Prospectus dated May 24, 1996 and            File no. 33-61383
Prospectus Supplement dated May 24, 1996)

                      NEW PLAN REALTY TRUST

                  Medium-Term Note - Fixed Rate
- -----------------------------------------------------------------
Face Amount:                            $25,000,000
Issue Price:                            100%
Interest Rate:                          7.65%
Interest Payment Dates:                 March 10 and September 10
Regular Record Dates:                   February 23 and August 26
Stated Maturity Date:                   November 2, 2026
Denominations (if other than
$1000 and integral multiples thereof):  

Trade Date:                             October 4, 1996
Original Issue Date:                    October 9, 1996
Net Proceeds to Issuer:                 $24,744,500
Agent's Commission:                     1.022%
Name of Agent:                          Salomon Brothers Inc.
Agent acting in the capacity indicated below:
        
           ___  As Agent
       
            x   As Principal
           ---
        
- -----------------------------------------------------------------

Day Count Convention:
        x  30/360 for the period from October 9, 1996 to 
           November 2, 2026

           Actual/360 for the period from          to
       ---   
       ___ Actual/Actual for the period from       to

       ___ Other (see attached)                    to
       
Redemption:
        x  The Notes cannot be redeemed prior to the Stated
       --- Maturity Date.
       ___ The Notes may be redeemed prior to Stated Maturity
           Date.
           Initial Redemption Date:
           Initial Redemption Percentage:    %
           Annual Redemption Percentage Reduction:    % until    
                 Redemption Percentage is 100% of the Principal  
                 Amount.

Repayment:
        
        x  The Notes cannot be repaid prior to the Stated
       ___ Maturity Date.

           The Notes can be repaid prior to the Stated Maturity
       ___ Date at the option of the holder of the Notes.
           Optional Repayment Date(s): 
           Repayment Price:   %

Original Issue Discount:       ___ Yes      _X_  No              
       Total Amount of OID:
       Yield to Maturity:
       Initial Accrued Period:

	x
Form:  ---  Book-entry         ___ Certified