SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(D) OF THE

                         SECURITIES EXCHANGE ACT OF 1934

        Date of report                                 March 24, 2003
(Date of earliest event reported)                     (March 24, 2003)
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                         WELLSFORD REAL PROPERTIES, INC.
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               (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)


          Maryland                      1-12917                 13-3926898
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(STATE OR OTHER JURISDICTION         (COMMISSION              (IRS EMPLOYER
      OF INCORPORATION)              FILE NUMBER)           IDENTIFICATION NO.)



  535 Madison Avenue, New York, New York                               10022
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 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)                           (ZIP CODE)


        Registrant's telephone number, including area code (212) 838-3400
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          (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)




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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.

     (c)  Exhibits

          99.1 Wellsford Real  Properties,  Inc. (the  "Company")  press release
               issued March 24, 2003,  reporting  results for the fourth quarter
               and year ended December 31, 2002.

ITEM 9. REGULATION FD DISCLOSURE.

The Company is furnishing under Item 9 of this Current Report on Form 8-K:

(i)  Exhibit 99.1 consists of a copy of the press release  issued March 24, 2003
     reporting results for the fourth quarter and year ended December 31, 2002.

The information in this Current Report on Form 8-K,  including the exhibits,  is
furnished  pursuant  to Item 9 and shall not be  deemed  to be  "filed"  for the
purposes of Section 18 of the  Securities  Exchange  Act of 1934,  or  otherwise
subject to the liabilities of that Section.

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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.

Date:    March 24, 2003

                         WELLSFORD REAL PROPERTIES, INC.

                             By:  /s/ James J. Burns
                                  ------------------
                                  James J. Burns
                                  Senior Vice President, Chief Financial Officer

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