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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                   FORM 12B-25



                             COMMISSION FILE NUMBER:



                           NOTIFICATION OF LATE FILING


              (CHECK ONE): [ ] FORM 10-K [ ] FORM 11-K [ ] FORM 2-F
                         [X] FORM 10-QSB [ ] FORM N-SAR

                                FOR PERIOD ENDED:

                                  JULY 31, 2001

      [ ] TRANSITION REPORT ON FORM 10-K     [ ] TRANSITION REPORT ON FORM 10-Q
      [ ] TRANSITION REPORT ON FORM 20-F     [ ] TRANSITION REPORT ON FORM N-SAR
                       [ ] TRANSITION REPORT ON FORM 11-K

                          FOR TRANSITION PERIOD ENDED:


             READ ATTACHED INSTRUCTION SHEET BEFORE PREPARING FORM.
                              PLEASE PRINT OR TYPE

      NOTHING IN THIS FORM SHALL BE CONSTRUED TO IMPLY THAT THE COMMISSION
                 HAS VERIFIED ANY INFORMATION CONTAINED HEREIN.

     IF THE NOTIFICATION RELATES TO A PORTION OF THE FILING CHECKED ABOVE,
            IDENTIFY THE ITEM(S) TO WHICH THE NOTIFICATION RELATES:



                         PART I. REGISTRANT INFORMATION

Full name of registrant:

                  Castle Hill Associates, Inc.

Former name if applicable:

Address of principal executive office (Street and Number) :

                  50 Broadway, Suite 2300
                  New York, NY 10004


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                                    PART II.
                             RULE 12B-25(B) AND (C)

         If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to this Rule 12b-25 (b), the
following should be completed. (Check box if appropriate.


         (a)      The reasons described in reasonable detail in Part III of this
         form could not be eliminated without unreasonable effort or expense;
[X]
        (b)      The subject quarterly report on Form 10-QSB, will be filed on
         or filed on or before the fifth calendar day following the prescribed
         due date; and


         (c)      The accountant's statement or other exhibit required by Rule
         12b-25(c) has been attached if applicable.


                                    PART III.
                                    NARRATIVE

         State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F,
10-QSB, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period. (Attach extra sheets if needed.)

         The time demands caused by the integration of recent business
activities into the Registrant's quarterly report on Form 10-QSB for the period
ending July 31, 2001 could not be timely filed without unreasonable effort or
expense.


                                    PART IV.
                                OTHER INFORMATION

         (1)      Name and telephone number of person to contact in regard to
                  this notification

                  Patricia Meding              (212)              785-6200
                  ---------------              -----              --------

                      (Name)                (Area Code)       (Telephone Number)

         (2)      Have all other periodic reports required under Section 13 of
15 (d) of the Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such shorter period
that the registrant was required to file such report(s) been filed? If the
answer is no, identify report(s).

                           [X]  Yes          [ ]  No



         (3)      Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject report or
portion thereof?

                           [ ]  Yes          [X]  No

         If so: attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons why a
reasonable estimate of the results cannot be made.


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                          CASTLE HILL ASSOCIATES, INC.

                  (Name of registrant as specified in charter)

Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.


Date:    September 14, 2001              By : /s/ Patricia Meding
                                             -----------------------------------
                                             Patricia Meding
                                             President