UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    Form 10-Q

                   QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934


                 For Quarter and Six Months Ended March 31, 2000

                          Commission File Number 1-8893


                  ROYAL PALM BEACH COLONY, LIMITED PARTNERSHIP
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)


           DELAWARE                                            59-2501059
--------------------------------------------------------------------------------
(State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization)                            Identification Number)



                               2501 S. Ocean Drive
                            Hollywood, Florida 33019
                        --------------------------------
               (Address of principal executive offices) (Zip Code)


        Registrant's telephone number, including area code (954) 927-3080
                                                           --------------

                                      NONE
--------------------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last report


Indicate by checkmark  whether the registrant (1) has filed all reports required
to be filed  by  Section  13 or 15 (d) of the  Securities  Exchange  Act of 1934
during the preceding 12 months (or for such shorter  period that the  registrant
was  required  to file such  reports),  and (2) has been  subject to such filing
requirements for the past 90 days.

                                YES [ X ] NO [ ]

Indicate the number of shares outstanding of each of the registrant's classes of
common stock, as of the latest practicable date.

           CLASS                  Outstanding at March 31, 2000
           -----                  --------------------------------
 Limited Partnership Units                 4,485,504 units

<PAGE>

                                      INDEX


                                                                   Page Number
PART I.  Financial Information

                                Balance sheets -
                               March 31, 2000 and
                             September 30, 1999                        2

                           Statements of operations -
                             Three months and six months ended
                             March 31, 2000 and 1999                   3

                           Statements of cash flows -
                             Three months and six months ended
                             March 31, 2000 and 1999                  4-5

                           Notes to financial statements               6

                           Management's discussion and analysis
                             of financial condition and results
                             of operations                            7-8

Part II. Other information and signatures                              9



<PAGE>

                  ROYAL PALM BEACH COLONY, LIMITED PARTNERSHIP
                                 BALANCE SHEETS


                                         March 31,     September 30,
                                           2000            1999
                                       ------------    -------------
                                       (unaudited)
ASSETS

Cash                                    $  915,222        $3,113,800
Other receivables                            1,179           401,972
Property held for sale                   1,379,295         2,379,916
Other assets                                43,427            40,621
                                        ----------        ----------

                                        $2,339,123        $5,936,309
                                        ==========        ==========

LIABILITIES AND PARTNERS' EQUITY

Liabilities:
   Accounts payable and other
    liabilities                         $  138,776        $  283,345



Partners' equity:
  4,485,504 units authorized and
     outstanding                         2,200,347         5,652,964
                                        ----------        ----------

                                        $2,339,123        $5,936,309
                                        ==========        ==========

                        See notes to financial statements

                                       2
<PAGE>
<TABLE>
<CAPTION>
                  ROYAL PALM BEACH COLONY, LIMITED PARTNERSHIP
                            STATEMENTS OF OPERATIONS
                        THREE MONTHS AND SIX MONTHS ENDED
                             MARCH 31, 2000 AND 1999
                                   (UNAUDITED)


                                   Three Months Ended                  Six Months Ended
                                        March 31,                           March  31,
                        ---------------------------------------------------------------------------
                                     2000         1999                 2000         1999
                                   -------      --------            ---------     --------
<S>                              <C>          <C>                  <C>          <C>
Land Revenues:
  Gross sales of land            $ 1,316,250  $      -             $ 1,316,250  $ 2,766,500
  Less profit deferred until
    principal collections are
    received                            -            -                    -         264,593
                                 -----------  -----------          -----------  -----------
                                   1 316,250         -               1,316,250    2,501,907
Interest income                       15,947        4,232               31,258        5,544
Other income                            -            -                     440       11,035
                                 -----------  -----------          -----------  -----------
                                   1,332,197        4,232            1,347,948    2,518,486
                                 -----------  -----------          -----------  -----------

Cost and expenses:
  Cost of sales                    1 075,801         -               1,075,801    2,000,225
  Selling, general and
    administrative expenses          202,712      182,251              306,504      500,688
  Interest                               297       14,817                  793       38,803
  Depreciation and
    property taxes                    20,349       55,258               53,339      113,115
                                 -----------  -----------          -----------  -----------

      Total costs and expenses     1,299,159      252,326            1,436,437    2,652,831
                                 -----------  -----------          -----------  -----------

Net income (loss)                $    33,038  $  (248,094)         $   (88,489) $  (134,345)
                                 ===========  ===========          ===========  ===========
Net income (loss) per unit       $      0.01  $     (0.06)         $     (0.02) $     (0.03)
                                 ===========  ===========          ===========  ===========

Weighted average number of
  units outstanding                4,485,504    4,485,504            4,485,504    4,485,504
                                 ===========  ===========          ===========  ===========
</TABLE>

                        See notes to financial statements

                                       3
<PAGE>
<TABLE>
<CAPTION>
                  ROYAL PALM BEACH COLONY, LIMITED PARTNERSHIP
                            STATEMENTS OF CASH FLOWS
            THREE MONTHS AND SIX MONTHS ENDED MARCH 31, 2000 AND 1999
                                   (UNAUDITED)


                                              Three Months Ended                  Six Months Ended
                                                   March 31,                           March  31,
                                  ---------------------------------------------------------------------------
                                               2000            1999             2000              1999
                                             -------          --------        ---------         --------
<S>                                       <C>               <C>             <C>               <C>
Cash flows from operating
  activities:

   Cash was received from:
     Collections on sales
      and receivables                     $ 1,328,750       $   50,449      $ 1,328,750       $ 1,593,064
     Interest  Income                          15,947            4,232           41,780             5,544
     Sale of utility system                   379,363          438,572          379,363           438,572
     Other                                       --               --                440            11,035
                                          -----------       ----------      -----------       -----------
                                            1,724,060          493,253        1,750,333         2,048,215
                                          -----------       ----------      -----------       -----------

   Cash was expended for:
     Selling, general and
      administrative, property
      taxes and other expenses                255,869          293,983          440,470           810,077
     Interest paid (net of
      amounts capitalized)                        297           14,817              793            38,803
     Improvements to property
      held for sale                            36,462          105,450          134,338           241,962
                                          -----------       ----------      -----------       -----------
                                              292,628          414,250          575,601         1,090,842
                                          -----------       ----------      -----------       -----------

Net cash provided by
 operating activities                       1,431,432           79,003        1,174,732           957,373
                                          -----------       ----------      -----------       -----------

Cash flow from investing activities:
   Purchase of property
    and equipment                                --               --             (9,182)             --
                                          -----------       ----------      -----------       -----------

Net cash used in investing
 activities                                      --               --             (9,182)             --
                                          -----------       ----------      -----------       -----------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S>                                       <C>               <C>             <C>               <C>
Cash flow from financing activities:
   Proceeds from mortgage
    notes payable, bank                          --               --               --              17,800
   Payments on mortgage
    payable,  bank                               --               --               --            (680,000)
   Partner distributions                   (1,121,376)            --         (3,364,128)             --
                                          -----------       ----------      -----------       -----------

Net cash used in financing
 activities                                (1,121,376)            --         (3,364,128)         (662,200)
                                          -----------       ----------      -----------       -----------

Net increase (decrease) in cash               310,056           79,003       (2,198,578)          295,173
Cash, beginning of period                     605,166          222,723        3,113,800             6,553
                                          -----------       ----------      -----------       -----------
Cash, end of period                       $   915,222       $  301,726      $   915,222       $   301,726
                                          ===========       ==========      ===========       ===========
</TABLE>

                        See notes to financial statements

                                       4
<PAGE>
<TABLE>
<CAPTION>
                  ROYAL PALM BEACH COLONY, LIMITED PARTNERSHIP
                            STATEMENTS OF CASH FLOWS
                     RECONCILIATION OF NET LOSS TO NET CASH
                        PROVIDED BY OPERATING ACTIVITIES
            THREE MONTHS AND SIX MONTHS ENDED MARCH 31, 2000 AND 1999
                                   (UNAUDITED)


                                            Three Months Ended                 Six Months Ended
                                                 March 31,                         March  31,
                                  ---------------------------------------------------------------------------
                                           2000             1999             2000              1999
                                         -------          --------        ---------         --------
<S>                                   <C>               <C>             <C>               <C>
Net income (loss)                     $    33,038       $(248,094)      $   (88,489)      $  (134,345)
                                      -----------       ---------       -----------       -----------
Adjustments to reconcile net
loss to net cash provided by
operating activities:

   Depreciation and amortization              680             246             1,359               687
   Change in assets and
    liabilities:

    Decrease in:
     Mortgage notes and
      other receivables                   390 722         439,021           400,793             --
     Property held for sale             1,042,093         (18,907)        1,000,621         1,788,468
     Other assets                             465          17,388             5,017            34,972
     Accounts payable and
      accrued liabilities                 (48,066)       (160,651)         (157,069)         (262,138)
    Increase in:
     Deposits on land sales                12,500          50,000            12,500           125,000
     Mortgage notes and other
      receivables                            --              --                --            (595,271)
                                      -----------       ---------       -----------       -----------
Total adjustments                       1,398,394         327,097         1,263,221         1,091,718
                                      -----------       ---------       -----------       -----------

Net cash flow provided by
  operating activities                $ 1,431,432       $  79,003       $ 1,174,732       $   957,373
                                      ===========       =========       ===========       ===========
</TABLE>

                        See notes to financial statements

                                       5
<PAGE>
                         NOTES TO FINANCIAL STATEMENTS
                        THREE MONTHS AND SIX MONTHS ENDED
                             MARCH 31, 2000 AND 1999

1. Interim financial statements:

         The accompanying  unaudited financial  statements have been prepared in
         accordance with the instructions to Form 10-Q and do not include all of
         the information and footnotes required by generally accepted accounting
         principles  for  complete  financial  statements.  In  the  opinion  of
         management,  all adjustments  (consisting of normal recurring accruals)
         considered  necessary  for a  fair  presentation  have  been  included.
         Operating  results for the three  months and six months ended March 31,
         2000 are not necessarily indicative of the results that may be expected
         for the fiscal year ending September 30, 2000. These statements  should
         be read in conjunction with the financial  statements and notes thereto
         included  in the  Company's  Annual  Report on Form 10-K for the fiscal
         year ended September 30, 1999.


2. Income tax:

         The Partnership  has elected to continue its Partnership  status beyond
         December 31, 1997, by agreeing to pay an annual 3.5% Federal tax on its
         gross income for Federal income tax purposes (principally revenues less
         cost of land  sold).  For the six months  ended March 31, 2000 and 1999
         gross income for Federal Tax  purposes is not material and  accordingly
         no  provisions  for Federal Taxes has been  provided.  The partners are
         required  to include in their  income tax  returns  their  share of the
         Partnership's taxable income or loss.


                                       6

<PAGE>
                  ROYAL PALM BEACH COLONY, LIMITED PARTNERSHIP

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                                SIX MONTHS ENDED
                        March 31, 2000 AND March 31, 1999
                                   (UNAUDITED)

Results of Operations

NOTE: Since the Partnership's  activities consist principally of the sale of its
remaining properties,  and the timing of closing dates for such sales is usually
subject to contingencies  which often result in changes to such closing dates, a
comparison  of sales and income  results  from  comparable  periods in different
years is not considered meaningful.

         During  the six  month  periods  ended  March 31,  2000 and  1999,  the
Partnership had net revenues  totaling  $1,347,948 and $2,518,486  respectively,
and net a net loss of ($88,489) or ($0.02) per unit and of ($134,345) or ($0.03)
per unit,  respectively.  During  the  quarter  ended  December  31,  1999,  the
Partnership  did not effect any sales of its real  estate and its only  revenues
were derived  primarily from interest payments on a certificate of deposit held.
During the quarter ended March 31, 2000, the Company resold 45 residential  lots
in the  Crestwood  single  family tract (which had been  reacquired in 1999 as a
result of the  Partnership's  acceptance of a deed in lieu of  foreclosure)  for
gross  proceeds or  $1,316,250  and net  proceeds  after real  estate  taxes and
brokerage commissions of $1,092,000.

Cost of Sales

Cost of sales relates to the sales of land as discussed above.  This item varies
as a result of dissimilar profit margins and income  recognition  methods on the
various sales of land and buildings as discussed above. There were no sales, and
thus no costs of sale in the  quarter  ended March 31,  1999 and  $1,075,801  in
costs of sales in the three months ended March 31, 2000.  There were  $2,766,502
of sales  during  the six  months  ended  March  31,  1999 with cost of sales of
$2,000,225  and  $1,316,250  of sales during the six months ended March 31, 2000
with cost of sales of $1,075,801.

Selling, Administrative and Other Expenses

Selling,  general and administrative expenses were $202,712 in the quarter ended
March 31, 2000, compared with $182,251 in the corresponding quarter of 1999.

                                       7
<PAGE>

In The six month  period  ended March 31, 2000 only $793 in interest was charged
to operations  because all indebtedness  had been paid off;  interest of $38,803
was  charged  in the six  months  ended  March  31,  1999 in  respect  of  loans
outstanding during that period.

Liquidity and Capital Resources

Cash  decreased  from  $3,113,800 at September 30, 1999 to $915,222 at March 31,
2000. See Financial Information - Statements of Cash Flows. The principal reason
for this decline was the payment in October 1999 of a cash  distribution to unit
holders aggregating $2,242,742 and an additional cash distribution of $1,121,376
in February 0f 2000. The  Partnership's  cash balances at any  particular  point
depend primarily on the timing of sales of its real estate,  which timing can be
affected by numerous  factors.  See  Financial  Information - Statements of Cash
Flows.

During the  current  fiscal  year,  and based upon  management's  judgment  that
ordinary operating expenses will not increase, the Partnership  anticipates that
cash  flow and  liquidity  requirements  will be  satisfied  by land  sales  and
contingent utility receipts described under "Utility  Contingent  Receivable" in
Item 2 the Incorporated 1999 10-K. Sales of land are subject to conditions which
might not be satisfied,  although the  Partnership  has no present  knowledge of
circumstances which would render likely the non-satisfaction of such conditions.

Affect of Land Sales on Future Cash Flow

The Partnership's future revenues will depend solely upon its ability to develop
and/or sell its remaining real estate,  and upon receipts from a prior sale of a
utility plant. At March 31, 2000, the  Partnership  retained and was holding for
sale (1) a 50% interest in 3.2 acres of commercial  property in the  "Crestwood"
tract in the Village of Royal Palm Beach under option for sale for a price which
would generate gross proceeds to the Partnership of approximately  $250,000; (2)
a tract of 4.54 acres in the Village of Royal Palm Beach zoned for approximately
84  multi-family  residential  units,  as to which a contract  of sale for gross
proceeds of  $350,000 was cancelled in May of 2000; (3) 162 lots in the vicinity
of the Village of Royal Palm Beach zoned for  residential  use but presently the
subject of  litigation as to the  availability  of building  permits;  and (4) a
tract  of  approximately  22 acres in the  Crestwood  multi-family  tract in the
Village of Royal Palm Beach.  This tract was  previously  under contract of sale
for $1,870,000,  which contract was cancelled during the quarter ended March 31,
2000. A new contract for sale of this property was executed  during May of 2000,
for a gross  purchase price of  $2,197,250.  The closing of this  transaction is
subject to due diligence review by the

                                       8
<PAGE>

purchaser and,  thereafter,  to numerous land use and other contingencies and is
not expected to occur until early 2001.

In 1983 the Partnership's  Predecessor Company sold to the Village of Royal Palm
Beach a water and sewage treatment system servicing the Village. Pursuant to the
agreement of sale ("Utility Contract"),  the Partnership was entitled to receive
annual payments through 2003 based on water consumption in the Village. To date,
the Partnership has received $6,639,000 based on water consumption. In addition,
the Partnership was entitled to receive  additional  payments to the Partnership
equal to 25% of any  "Guaranteed  Revenues"  (payment  by  developers  to secure
guaranteed  allocations of plant capacity) collected by the Village to a maximum
payment of $500,000,  of which $331,000 has already been received.  Although the
Partnership could theoretically  receive an additional  $4,261,000 in contingent
payments based on water consumption under the Utility Contract, it is considered
unlikely that the rate of new  construction  or water  consumption  in such area
will be sufficient to enable the  Partnership to receive the full amount of such
payments prior to the expiration of the contingent payment term.

The partnership  has declared  aggregate  distributions  of $7.25 per unit since
inception  through  March  31,  2000.  An  aggregate  of $6.50 per unit had been
distributed  through  December  16,  1992,  and no  further  distributions  were
declared until October 27, 1999,  when a distribution of fifty cents ($0.50) per
unit  was  declared.  On  February  17,  2000  an  additional   distribution  of
twenty-five cents ($0.25) per unit was declared. Total net cash flow which might
become available for additional  distributions is unpredictable due to uncertain
conditions in the South  Florida real estate  market in which the  Partnership's
remaining  real  estate is  located,  and  competition  from  other  owners  and
developers of real estate in the South Florida  market.  These  conditions  will
continue to affect the realizable  value of the  Partnership's  remaining  land,
including  decisions by parties  holding  options on the  Partnership's  land to
exercise  such  options  in whole or in part.  The rate of  construction  in the
Village of Royal Palm Beach could also  significantly  affect future payments to
the Partnership under the Utility Contract described in the preceding paragraph.

Environmental Matters

 There are no  environmental  contingencies in respect of the Partnership or its
properties.  Use of all of the Partnership's properties is subject to compliance

                                       9
<PAGE>

with state and county land use regulations  relating to  environmental  matters,
which the  Partnership  takes  into  account  in  considering  the values of its
properties.

Income Taxes

The Partnership,  pursuant to the transitional grandfather rules of the Internal
Revenue Code dealing with publicly traded partnerships, reported its income as a
Partnership for taxable years through  December 31, 1997. The application of the
grandfather  rules  terminated for taxable years  commencing  after December 31,
1997. Under the Taxpayer Relief Act of 1997, a publicly traded  partnership that
is currently  governed by this  provision may elect to continue its  Partnership
tax status  beyond  December  31, 1997 by agreeing to pay an annual 3.5% Federal
Tax on its gross income for federal  income tax purposes  (principally  revenues
less tax cost of land  sold).  The  Partnership  has  elected  to  continue  its
Partnership status beyond December 31, 1997. No provision for federal income tax
has been made for the six months ended March 31, 2000 and 1999.

                                       10



<PAGE>





                           PART II - OTHER INFORMATION


         (a)      Exhibits -

                  99- Real estate Sales Contract between Registrant and
                  EB Developers, Inc. relating to approximately 20.82
                  acres in the Village of Royal Palm Beach, executed May
                  12, 2000.

         (b)      Reports on Form 8-K - None




                                       11

<PAGE>


                                   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 thereunto duly authorized.


                                              ROYAL PALM BEACH COLONY,
                                              LIMITED PARTNERSHIP


                                              By: Stein Management Company, Inc.
                                              Managing General Partner

DATE: May 31, 2000                            By: /s/ Irving Cowan
                                                  ------------------------------
                                                  Irving Cowan, President

                                       12