SUBSIDIARIES OF THE REGISTRANT

      The following is a list of the subsidiaries of Sound Federal Bancorp
following the Reorganization:


      Name                                           State of Incorporation
      ----                                           ----------------------

      Sound Federal Savings                          Federal
               |
      Sound REIT, Inc.                               New York

      First Federal REIT, Inc.                       New York

      Mamaroneck Advisors, Inc.                      New York