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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
March 6, 2003
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Date of report (Date of earliest event reported)
ATLANTIC REALTY TRUST
(Exact name of registrant as specified in its charter)
Maryland 0-27562 13-3849655
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification Number)
747 Third Avenue, New York, NY 10017
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 212-702-8561
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Former name or former address, if changed since last report
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Item 5. Other Items.
On March 5, 2003, the Company reported that the Internal Revenue
Service ("IRS") has issued an examination report in connection with an
audit of the 1996 and 1997 income tax returns of all of the Company. In
reaching the positions adopted in the examination report with respect to
the deduction for bad debts, the IRS revenue agent disregarded the fact
that the values actually obtained for the asset correspond to the value
used by the Company in determining its bad debt deductions. The revenue
agent's report set forth a number of positions which special tax counsel
and the Company believe are not consistent with applicable law and
regulations of the IRS. There can be no assurance how this matter will be
resolved.
Incorporated by reference is a press release issued by the Company
on March 5, 2003 which is attached hereto as Exhibit 1.1.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ATLANTIC REALTY TRUST
Date: March 6, 2003 By: /s/ Edwin R. Frankel
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Name: Edwin R. Frankel
Title: Executive Vice President,
Chief Financial Officer,
Secretary and Principal
Financial and Accounting Officer
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EXHIBIT INDEX
Exhibit
Number Description
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1.1 Press Release issued by the Company on March 5, 2003
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