FORM 10-QSB---QUARTERLY OR TRANSITIONAL REPORT UNDER SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934
                        Quarterly or Transitional Report



                      U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

                   For the quarterly period ended March 31, 2001


[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934


                For the transition period from _________to _________

                         Commission file number 0-15740


                  RIVERSIDE PARK ASSOCIATES LIMITED PARTNERSHIP
       (Exact name of small business issuer as specified in its charter)



         Delaware                                           04-2924048
(State or other jurisdiction of                          (I.R.S. Employer
 incorporation or organization)                         Identification No.)

                          55 Beattie Place, PO Box 1089
                        Greenville, South Carolina 29602
                      (Address of principal executive offices)

                                 (864) 239-1000
                           (Issuer's telephone number)


Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act  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___


                         PART I - FINANCIAL INFORMATION

ITEM 1.     FINANCIAL STATEMENTS

a)

                   RIVERSIDE PARK ASSOCIATES LIMITED PARTNERSHIP

                                  BALANCE SHEET
                                   (Unaudited)
                          (in thousands, except unit data)

                                 March 31, 2001


<TABLE>
<CAPTION>

Assets
<S>                                                           <C>            <C>
   Cash and cash equivalents                                                 $  799
   Receivables and deposits                                                     413
   Other assets                                                                 959
   Investment property:
       Land                                                   $ 6,357
       Buildings and related personal property                 73,157
                                                               79,514
       Less accumulated depreciation                          (40,938)       38,576
                                                                           $ 40,747
Liabilities and Partners' Deficit
Liabilities
   Accounts payable                                                        $    163
   Tenant security deposit liabilities                                          272
   Accrued property taxes                                                       261
   Other liabilities                                                            488
   Mortgage note payable                                                     50,260

Partners' Deficit:
   General partner                                             $(1,354)
   Limited partners (566 units issued and outstanding)          (9,343)     (10,697)
                                                                           $ 40,747


                   See Accompanying Notes to Financial Statements
</TABLE>

<PAGE>




b)

                   RIVERSIDE PARK ASSOCIATES LIMITED PARTNERSHIP

                            STATEMENTS OF OPERATIONS
                                   (Unaudited)
                          (in thousands, except unit data)

<TABLE>
<CAPTION>

                                                                Three Months Ended
                                                                       March 31,
                                                                 2001        2000
Revenues:
<S>                                                          <C>          <C>
   Rental income                                             $   3,238    $   2,952
   Other income                                                    653          379
       Total revenues                                            3,891        3,331

Expenses:
   Operating                                                     1,504        1,192
   General and administrative                                      150           83
   Depreciation                                                    786          786
   Interest expense                                                974        1,099
   Property taxes                                                  261          208
       Total expenses                                            3,675        3,368

Net income (loss)                                            $     216    $     (37)

Net income (loss) allocated to general partner (3%)          $       6    $      (1)

Net income (loss) allocated to limited partners (97%)              210          (36)
                                                             $     216    $     (37)
Net income (loss) per limited partnership unit               $  371.02    $  (63.60)
Distributions per limited partnership unit                   $      --    $1,353.36



                   See Accompanying Notes to Financial Statements
</TABLE>

<PAGE>


c)

                   RIVERSIDE PARK ASSOCIATES LIMITED PARTNERSHIP

                    STATEMENT OF CHANGES IN PARTNERS' DEFICIT
                                   (Unaudited)
                          (in thousands, except unit data)



<TABLE>
<CAPTION>



                                     Limited
                                   Partnership   General      Limited
                                      Units      Partner     Partners       Total

<S>                                    <C>         <C>      <C>           <C>
Original capital contributions         566       $    --     $  47,533    $ 47,533

Partners' deficit at
   December 31, 2000                   566       $(1,360)    $ (9,553)    $(10,913)

Net income for the three months
   ended March 31, 2001                 --             6          210          216

Partners' deficit
   at March 31, 2001                   566      $ (1,354)    $ (9,343)    $(10,697)




                   See Accompanying Notes to Financial Statements
</TABLE>

<PAGE>



d)
                   RIVERSIDE PARK ASSOCIATES LIMITED PARTNERSHIP

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                   (in thousands)
<TABLE>
<CAPTION>

                                                                 Three Months Ended
                                                                       March 31,
                                                                  2001        2000
Cash flows from operating activities:
<S>                                                             <C>          <C>
  Net income (loss)                                             $    216     $    (37)
  Adjustments to reconcile net income (loss) to net cash
  provided by operating activities:
    Depreciation                                                     786          786
    Amortization of loan costs                                        10           86
    Change in accounts:
        Receivables and deposits                                    (221)        (232)
        Other assets                                                 (50)         (37)
        Accounts payable                                              (7)        (121)
        Tenant security deposit liabilities                           38            2
        Accrued property taxes                                       261          202
        Other liabilities                                            (27)          16
           Net cash provided by operating activities               1,006          665

Cash flows used in investing activities:
    Property improvements and replacements                          (833)        (233)
    Net deposits to restricted escrows                                --          (91)

           Net cash used in investing activities                    (833)        (324)

Cash flows used in financing activities:
    Payments on mortgage note payable                               (282)        (191)
    Distributions to partners                                     (2,080)          --

Net cash used in financing activities                             (2,362)        (191)

Net (decrease) increase in cash and cash equivalents              (2,189)         150

Cash and cash equivalents at beginning of period                   2,988        3,004

Cash and cash equivalents at end of period                      $    799     $  3,154

Supplemental disclosure of cash flow information:
  Cash paid for interest                                        $    965     $    790

                   See Accompanying Notes to Financial Statements
</TABLE>

<PAGE>



e)
                   RIVERSIDE PARK ASSOCIATES LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)

Note A - Basis of Presentation

The  accompanying  unaudited  financial  statements of Riverside Park Associates
Limited  Partnership (the  "Partnership" or "Registrant")  have been prepared in
accordance with generally accepted  accounting  principles for interim financial
information  and  with the  instructions  to Form  10-QSB  and  Item  310(b)  of
Regulation  S-B.  Accordingly,  they do not include all of the  information  and
footnotes  required by generally  accepted  accounting  principles  for complete
financial  statements.  The  general  partner  of the  Partnership  is  Winthrop
Financial  Associates,  a limited  partnership (the "General Partner" or "WFA").
NHP Management  Company  ("NHP"),  the associate  general partner of the General
Partner  and  an  affiliate  of  Apartment  Investment  and  Management  Company
("AIMCO"),  has the right to cause the General Partner to take such action as it
deems advisable with respect to the  Partnership.  In the opinion of the General
Partner,  all adjustments  (consisting of normal recurring accruals)  considered
necessary for a fair presentation have been included.  Operating results for the
three month period ended March 31, 2001, are not  necessarily  indicative of the
results that may be expected for the fiscal year ending  December 31, 2001.  For
further  information,  refer to the financial  statements and footnotes  thereto
included in the  Partnership's  Annual  Report on Form 10-KSB for the year ended
December 31, 2000.

Segment Reporting:

Statement of Financial Standards ("SFAS") No. 131, "Disclosure about Segments of
an Enterprise and Related  Information"  established  standards for the way that
public business  enterprises  report  information  about  operating  segments in
annual financial  statements and requires that those enterprises report selected
information  about  operating  segments in interim  financial  reports.  It also
establishes  standards  for related  disclosures  about  products and  services,
geographic  areas,  and  major  customers.  As  defined  in SFAS  No.  131,  the
Partnership has only one reportable segment. Moreover, due to the very nature of
the Partnership's  operations,  the General Partner believes that  segment-based
disclosures will not result in a more meaningful presentation than the financial
statements as presently presented.

Note B - Transactions with Affiliated Parties

The  Partnership has no employees and is dependent on NHP and its affiliates for
the management and administration of all Partnership activities. The Partnership
Agreement  provides for certain  payments to affiliates  for services based on a
percentage  of revenue and an annual  partnership  and  investor  service fee of
$110,000 subject to a 6% annual increase.  The following  transactions  with NHP
and/or its affiliates  were incurred during each of the three months ended March
31, 2001 and 2000:

                                                                  2001      2000
                                                                  (in thousands)
 Property management fees (included in operating expenses)        $150      $133

 Reimbursement for services of affiliates and investor
  service fees (included in general and administrative
  expenses and investment properties)                              316        95

During the three  months ended March 31, 2001 and 2000,  affiliates  of NHP were
entitled  to  receive 4% of gross  receipts  from the  Partnership's  investment
property for providing  property  management  services.  The Partnership paid to
such affiliates  approximately  $150,000 and $133,000 for the three months ended
March 31, 2001 and 2000, respectively.

An  affiliate  of  NHP  received  reimbursement  of  accountable  administrative
expenses  amounting to  approximately  $316,000 and $95,000 for the three months
ended March 31, 2001 and 2000, respectively.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates owned 363.21 limited partnership units in
the Partnership  representing  approximately  64.17% of the outstanding units at
March 31, 2001. A number of these units were acquired  pursuant to tender offers
made by AIMCO or its  affiliates.  It is possible  that AIMCO or its  affiliates
will acquire  additional  limited  partnership  interests in the Partnership for
cash or in  exchange  for units in the  operating  partnership  of AIMCO  either
through private  purchases or tender offers.  Under the  Partnership  Agreement,
unitholders  holding a majority  of the units are  entitled  to take action with
respect to a variety of matters, which would include without limitation,  voting
on certain  amendments  to the  Partnership  Agreement  and voting to remove the
General  Partner.  As a result of its ownership of  approximately  64.17% of the
outstanding units, AIMCO is in a position to influence all voting decisions with
respect to the Registrant. When voting on matters, AIMCO would in all likelihood
vote the Units it acquired in a manner  favorable to the interest of the General
Partner because of their affiliation with the General Partner.

Note C - Distributions

The Partnership paid  approximately  $2,080,000 in distributions  from cash from
operations  that the  Partnership  had  declared at December 31, 2000 during the
three months ended March 31, 2001.  During the three months ended March 31, 2000
the  Partnership  declared  a  distribution  from  operations  of  approximately
$790,000  (approximately  $766,000 to the  limited  partners  or  $1,353.36  per
limited  partnership  unit).  The distribution was accrued at March 31, 2000 and
paid subsequent to March 31, 2000. Subsequent to March 31, 2001, the Partnership
declared  and  paid a  distribution  of  approximately  $562,000  (approximately
$545,000 to the limited partners,  or $962.90 per limited partnership unit) from
cash from operations.

Note D - Contingencies

The Partnership is unaware of any pending or outstanding  litigation that is not
of a routine nature arising in the ordinary course of business.


<PAGE>



ITEM 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The  matters  discussed  in this Form  10-QSB  contain  certain  forward-looking
statements  and  involve  risks and  uncertainties  (including  changing  market
conditions,   competitive  and  regulatory   matters,   etc.)  detailed  in  the
disclosures  contained  in this  Form  10-QSB  and the  other  filings  with the
Securities and Exchange  Commission made by the  Partnership  from time to time.
The  discussion  of  the  Partnership's  business  and  results  of  operations,
including  forward-looking  statements pertaining to such matters, does not take
into  account  the  effects of any  changes to the  Partnership's  business  and
results of operations.  Accordingly, actual results could differ materially from
those  projected in the  forward-looking  statements  as a result of a number of
factors, including those identified herein.

The  Partnership's  sole  asset  is a 1,222  unit  apartment  complex  known  as
Riverside Park Apartments located in Fairfax County,  Virginia.  The property is
leased to tenants subject to leases of up to one year. Average occupancy for the
three  months  ended March 31, 2001 was 96% compared to 99% for the three months
ended March 31, 2000. The General  Partner  attributes the decrease in occupancy
to tenants purchasing new homes in the area as a result of lower interest rates.

Results of Operations

The  Partnership had net income of  approximately  $216,000 for the three months
ended March 31, 2001, as compared to a net loss of approximately $37,000 for the
three  months  ended  March 31,  2000.  The  increase in net income is due to an
increase in total  revenues,  partially  offset by a decrease in total expenses.
Total revenues increased primarily due to an increase in rental income and other
income.  Rental income  increased due to an increase in average  rental rates at
the investment  property which more than offset the decrease in occupancy at the
property.  Other income increased  primarily due to increased  corporate housing
revenue,  utility income and reimbursements,  and interest income as a result of
higher average cash balances being maintained in interest-bearing accounts.

The increase in total  expenses is due to an increase in operating,  general and
administrative  expenses,  and  property  tax  expenses,  partially  offset by a
decrease in interest  expenses.  Operating  expenses  increased  primarily  as a
result of an increase in corporate  housing  expenses and property expense which
more than offset a decrease in maintenance expenses.  Property expense increased
as a result of an increase in utility charges by the various service  providers.
The  increase  in general and  administrative  expenses is due to an increase in
general partner  reimbursements  allowed under the Partnership  Agreement and an
increase in professional services necessary to operate the Partnership. Property
tax expense  increased due to an increase in the assessed  value of the property
as established by the taxing  authorities.  The decrease in interest  expense is
primarily  due to  the  refinance  of the  Partnership's  mortgage  loan  on the
property in 2000 at a lower interest rate.

Included in general and administrative  expense for the three months ended March
31,  2001  and  2000  are  costs   associated  with  the  quarterly  and  annual
communications  with  investors  and  regulatory  agencies  and the annual audit
required by the Partnership Agreement.

As part of the ongoing  business plan of the  Partnership,  the General  Partner
monitors the rental market environment of its investment  property to assess the
feasibility of increasing rents,  maintaining or increasing occupancy levels and
protecting the Partnership from increases in expenses. As part of this plan, the
General  Partner  attempts  to  protect  the  Partnership  from  the  burden  of
inflation-related  increases in expenses by increasing  rents and  maintaining a
high overall occupancy level. However, due to changing market conditions,  which
can  result in the use of rental  concessions  and rental  reductions  to offset
softening market conditions, there is no guarantee that the General Partner will
be able to sustain such a plan.


<PAGE>



Liquidity and Capital Resources

At  March  31,  2001,  the  Partnership   held  cash  and  cash  equivalents  of
approximately $799,000,  compared to approximately $3,154,000 at March 31, 2000.
The net decrease in cash and cash equivalents of  approximately  $2,189,000 from
the Partnership's year end December 31, 2000 is due to approximately  $2,362,000
of cash used in financing activities, and approximately $833,000 of cash used in
investing  activities,  partially  offset by  approximately  $1,006,000  of cash
provided by operating  activities.  Cash used in financing  activities consisted
primarily of distributions to the partners and payments of principal made on the
mortgage  encumbering  the  Partnership's  investment  property.  Cash  used  in
investing   activities   consisted   primarily  of  property   improvements  and
replacements.  The partnership  invests its working capital reserves in interest
bearing accounts.

The sufficiency of existing  liquid assets to meet future  liquidity and capital
expenditure   requirements   is  directly   related  to  the  level  of  capital
expenditures required at the property to adequately maintain the physical assets
and other operating  needs of the Partnership and to comply with Federal,  state
and local legal and regulatory  requirements.  Capital  improvements planned for
the Partnership's investment property are as follows.

During  the  three  months  ended  March  31,  2001,  the  Partnership  expended
approximately   $833,000  for  capital  improvements  and  replacements  at  its
investment  property,  consisting  primarily of structural  improvements,  floor
covering replacements, ADA renovations and elevator upgrades. These improvements
were funded from operating cash flow. The Partnership  has budgeted,  but is not
limited to, capital  improvements  of  approximately  $3,475,000 for 2001 at the
property  which  consist  of  structural   improvements,   interior   decoration
improvements, garage and carport enhancements, elevator upgrades, floor covering
replacements, and air conditioning upgrades.

The additional  capital  expenditures will be incurred only if cash is available
from operations or from  Partnership  reserves.  To the extent that such capital
improvements are completed,  the Partnership's  distributable cash flow, if any,
may be adversely affected at least in the short term.

The  Partnership's  assets  are  currently  thought  to be  sufficient  for  any
near-term needs  (exclusive of capital  improvements)  of the  Partnership.  The
mortgage  indebtedness of  approximately  $50,260,000 is being amortized over 50
months  until the loan  matures  on July 1, 2020 at which  time the loan will be
fully  amortized.  The General Partner will attempt to refinance and/or sell the
property  prior to such maturity  date. If the property  cannot be refinanced or
sold for a sufficient  amount,  the  Partnership  will risk losing such property
through foreclosure.

The Partnership paid  approximately  $2,080,000 in distributions  from cash from
operations that the Partnership had declared at December 31, 2000 (approximately
$1,970,000  to the limited  partners,  or  approximately  $3,480.57  per limited
partnership  unit),  during the three months  ended March 31,  2001.  During the
three months ended March 31, 2000 the Partnership  declared a distribution  from
operations  of  approximately  $790,000  (approximately  $766,000 to the limited
partners or  $1,353.36  per limited  partnership  unit).  The  distribution  was
accrued at March 31, 2000 and paid  subsequent to March 31, 2000.  Subsequent to
March  31,  2001,  the   Partnership   declared  and  paid  a  distribution   of
approximately  $562,000  (approximately  $545,000  to the limited  partners,  or
$962.90  per  limited   partnership   unit)  from  cash  from  operations.   The
Partnership's  distribution  policy is reviewed on a monthly basis.  Future cash
distributions  will depend on the levels of net cash generated from  operations,
the availability of cash reserves, and timing of the debt maturity,  refinancing
and/or  sale of the  property.  There  can be no  assurance,  however,  that the
Partnership  will  generate  sufficient  funds from  operations  after  required
capital  expenditures  to  permit  distributions  to  its  partners  during  the
remainder of 2001 or subsequent periods.


<PAGE>



                           PART II - OTHER INFORMATION



ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

            a)    Exhibits:

                  None.

            b)    Reports on Form 8-K:

                  None filed during the quarter ended March 31, 2001.


<PAGE>



                                   SIGNATURES



In accordance with the  requirements of the Exchange Act, the Registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.



                                 RIVERSIDE PARK ASSOCIATES LIMITED PARTNERSHIP


                                 By:     WINTHROP FINANCIAL ASSOCIATES,
                                         A LIMITED PARTNERSHIP
                                         General Partner

                                 By:     NHP Management Company,
                                         Associate General Partner


                                 By:     /s/Patrick J. Foye
                                         Patrick J. Foye
                                         Executive Vice President

                                 By:     /s/Martha L. Long
                                         Martha L. Long
                                         Senior Vice President and
                                         Controller

                                 Date:  May 14, 2001