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| UNITED STATES                                          |
|--------------------------------------------------------|
| SECURITIES AND EXCHANGE COMMISSION                     |
| Washington, DC 20549                                   |
|                                                   |
| FORM 10-Q                                              |
|                                                   |
| (Mark One)                                             |
|                                                   |
| x                                                      | QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|                                                   |   |
|                                                   | For the quarterly period ended June 30, 2009 |
|                                                   |
| o                                                      | 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    0-12210       |
|                                                   |
|                                                   |
| PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP          |
| (Exact name of registrant as specified in its charter) |

| Maryland                                                       | 04-2801764                        |
|----------------------------------------------------------------|-----------------------------------|
| (State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |

| 1280 Massachusetts Avenue, 4th Floor, Cambridge, MA 02138                                                                                                                                                                                                                                                                                                     |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (Address of principal executive offices)                                                                                                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                                                                                                                          |
| (617) 876-4800                                                                                                                                                                                                                                                                                                                                                |
| (Registrant’s telephone number)                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                          |
| (Former name, former address and former fiscal year, if changed since last report)                                                                                                                                                                                                                                                                            |
|                                                                                                                                                                                                                                                                                                                                                          |
| Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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 o |
| Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company.                                                                                                                                                                                                      |

| Large accelerated filer  o                                                                                                                                                                                                           | Accelerated filer  o                                                                                                                                                |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Non-accelerated filer  o                                                                                                                                                                                                             | Small reporting company  x                                                                                                                                          |
|                                                                                                                                                                                                                                           |
| Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes  o  No  x                                                                                       |
|                                                                                                                                                                                                                                           |
| APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCYPROCEEDINGS DURING THE PRECEDING FIVE YEARS                                                                                                                                                   |
|                                                                                                                                                                                                                                           |
| Check whether the registrant filed all documents and reports required to be filed by Section l2, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.  Yes  oNo  o |
|                                                                                                                                                                                                                                           |
| APPLICABLE ONLY TO CORPORATE ISSUERS                                                                                                                                                                                                           |
|                                                                                                                                                                                                                                           |
| Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:_______________________________________                                                                     |
|                                                                                                                                                                                                                                           |
| SEC 1296 (02-08)                                                                                                                                                                                                                               | Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |

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|                                                                          |   | June 30, 2009(Unaudited) |      |   | December 31, 2008(Audited) |   |
|-------------------------------------------------------------------------------|--------|--------------------------|-----------|--------|----------------------------|--------|
|                                                                          |   |                     |      |   |                       |   |
| Assets                                                                        |   |                     |      |   |                       |   |
|                                                                          |   |                     |      |   |                       |   |
| Cash and cash equivalents                                                     |   | $                        | 6,915,444 |   |                       | $      | 7,094,593 |   |
| Due from investor limited partners, net of allowance of $440,189 and $404,300 |   |                     | 3,310     |   |                       |   | 3,310 |   |
| Due from affiliates, net of allowance of $120,000 and $0                 |   |                     | —   |   |                       |   | 60,000 |   |
|                                                                          |   |                     |      |   |                       |   |   |   |
| Total Assets                                                                  |   | $                        | 6,918,754 |   |                       | $      | 7,157,903 |   |
|                                                                          |   |                     |      |   |                       |   |   |   |
| Liabilities and Partners’ Equity                                        |   |                     |      |   |                       |   |   |   |
|                                                                          |   |                     |      |   |                       |   |   |   |
| Liabilities:                                                                  |   |                     |      |   |                       |   |   |   |
|                                                                          |   |                     |      |   |                       |   |   |   |
| Accounts payable                                                              |   | $                        | 12,372    |   |                       | $      | 46,923 |   |
| Due to investor limited partners                                              |   |                     | 241,116   |   |                       |   | 347,793 |   |
|                                                                          |   |                     |      |   |                       |   |   |   |
| Total Liabilities                                                             |   |                     | 253,488   |   |                       |   | 394,716 |   |
|                                                                          |   |                     |      |   |                       |   |   |   |
| Partners’ Equity:                                                       |   |                     |      |   |                       |   |   |   |
|                                                                          |   |                     |      |   |                       |   |   |   |
| Partners’ Equity                                                        |   |                     | 6,665,266 |   |                       |   | 6,763,187 |   |
|                                                                          |   |                     |      |   |                       |   |   |   |
| Total Liabilities and Partners’ Equity                                  |   | $                        | 6,918,754 |   |                       | $      | 7,157,903 |   |

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|                                                                   |   | For The Three Months Ended |    |   | For the Six Months Ended |   |
|------------------------------------------------------------------------|--------|----------------------------|---------|--------|--------------------------|--------|
|                                                                   |   | June 30,                   |    |   | June 30,                 |   |   | June 30, |   |   | June 30, |   |
|                                                                   |   | 2009                       |    |   | 2008                     |   |   | 2009 |   |   | 2008 |   |
| Income:                                                                |   |                       |    |   |                     |   |   |   |   |   |   |   |
|                                                                   |   |                       |    |   |                     |   |   |   |   |   |   |   |
|                                                                   |   |                       |    |   |                     |   |   |   |   |   |   |   |
| Distribution from operating partnership                                |   | $                          | — |   |                     | $      | — |   |   | $ | — |   |   | $ | 1,679,832 |   |
| Interest and dividends                                                 |   |                       | 31,883  |   |                     |   | 67,534 |   |   |   | 71,958 |   |   |   | 186,475 |   |
|                                                                   |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Total income                                                           |   |                       | 31,883  |   |                     |   | 67,534 |   |   |   | 71,958 |   |   |   | 1,866,307 |   |
|                                                                   |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                                              |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Legal and Professional Fees                                            |   |                       | 42,623  |   |                     |   | 49,978 |   |   |   | 51,795 |   |   |   | 64,164 |   |
| Other                                                                  |   |                       | 37,305  |   |                     |   | 15,514 |   |   |   | 118,084 |   |   |   | 20,280 |   |
|                                                                   |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Total expenses                                                         |   |                       | 79,928  |   |                     |   | 65,492 |   |   |   | 169,879 |   |   |   | 84,444 |   |
|                                                                   |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Net income (loss)                                                      |   | $                          | (48,045 | )      |                     | $      | 2,042 |   |   | $ | (97,921 | ) |   | $ | 1,781,863 |   |
|                                                                   |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Net income (loss) per Unit of Limited Partnership Interest outstanding |   | $                          | (81.43  | )      |                     | $      | 3.46 |   |   | $ | (165.97 | ) |   | $ | 3,020.11 |   |

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|                                                           | Managing General Partner     |   | General Partner                                 |   |                      |   |                         |   |
|----------------------------------------------------------------|------------------------------|--------|-------------------------------------------------|--------|---------------------------|--------|------------------------------|--------|
| For the Six Months EndedJune 30, 2009(Unaudited)               | Winthrop Financial Co., Inc. |   | Linnaeus-Phoenix Associates Limited Partnership |   | Investor Limited Partners |   | Total Partners’ Equity |   |
|                                                           |                         |   |                                            |   |                      |   |                         |   |
| Partners’ equity (deficit),  December 31, 2008 |                         | $      | (289,536                                        |   |                      | $      | (591,445                     | )      |   | $ | 7,644,168 |   |   | $ | 6,763,187 |   |
|                                                           |                         |   |                                            |   |                      |   |                         |   |   |   |   |   |   |   |   |   |
| Net loss                                                       |                         |   | (490                                            |   |                      |   | (490                         | )      |   |   | (96,941 | )  |   |   | (97,921 | )  |
|                                                           |                         |   |                                            |   |                      |   |                         |   |   |   |   |   |   |   |   |   |
| Partners’ equity (deficit), June 30, 2009                |                         | $      | (290,026                                        |   |                      | $      | (591,935                     | )      |   | $ | 7,547,227 |   |   | $ | 6,665,266 |   |

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|                                                         |   | For The Six Months Ended |      |
|--------------------------------------------------------------|--------|--------------------------|-----------|
|                                                         |   | June 30,                 |      |   | June 30, |   |
|                                                         |   | 2009                     |      |   | 2008 |   |
| Cash Flows From Operating Activities:                        |   |                     |      |   |   |   |
|                                                         |   |                     |      |   |   |   |
| Net income (loss)                                            |   | $                        | (97,921   | ) |   | $ | 1,781,863 |   |
| Adjustments to reconcile net income to net cash              |   |                     |      |   |   |   |   |   |
|    used in operating activities:              |   |                     |      |   |   |   |   |   |
| Bad debts                                                    |   |                     | 155,889   |   |   |   | 19,835 |   |
| Increase in interest income for adjustment to distributions  |   |                     | (35,889   | ) |   |   | (30,870 | ) |
| Increase in due from affiliates                              |   |                     | (60,000   | ) |   |   | — |   |
| Increase in amounts receivable from investor limited partner |   |                     | —   |   |   |   | (3,310 | ) |
| Decrease in accounts payable                                 |   |                     | (34,551   | ) |   |   | (22,795 | ) |
| Decrease in accrued state replacement tax                    |   |                     | —   |   |   |   | (1,572,376 | ) |
| Decrease in liquidation fee expense,                         |   |                     |      |   |   |   |   |   |
| payable to an affiliate of the general partner               |   |                     | —   |   |   |   | (2,850,000 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| Net cash used in continuing operations                       |   |                     | (72,742   | ) |   |   | (2,677,653 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| Cash Flows From Financing Activities:                        |   |                     |      |   |   |   |   |   |
|                                                         |   |                     |      |   |   |   |   |   |
| Distributions to partners                                    |   |                     | —   |   |   |   | (1,350,217 | ) |
| Payment of amounts due to partners                           |   |                     | (106,677  | ) |   |   | (282,722 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| Net cash used in financing activities                        |   |                     | (106,677  | ) |   |   | (1,632,939 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| Net decrease in cash and cash equivalents                    |   |                     | (179,149  | ) |   |   | (4,310,592 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| Cash and cash equivalents, beginning of period               |   |                     | 7,094,593 |   |   |   | 11,497,853 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| Cash and cash equivalents, end of period                     |   | $                        | 6,915,444 |   |   | $ | 7,187,261 |   |

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| 1. | General |
|----|---------|

| 2. | Investment in Operating Partnership |
|----|-------------------------------------|

| 3.   | Taxable Income |
|----------------|----------------|

| 4.  | Subsequent Events |
|----------|-------------------|

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|   | PRESIDENTIAL ASSOCIATES ILIMITED PARTNERSHIP |                         |
|--------|----------------------------------------------|------------------------------|
|   |                                         |                         |   |
|   | By:                                          | Winthrop Financial Co., Inc. |   |
|   |                                         | Managing General Partner     |   |
|   |                                         |                         |   |
|   |                                         |                         |   |

|   |   |                         |
|--------|--------|------------------------------|
|   |   |                         |   |
|   | By:    | /s/ Eggert Dagbjartsson |   |
|   |   | Eggert Dagbjartsson          |   |
|   |   | Chief Executive Officer      |   |
|   |   |                         |   |

|   |                                          |                    |
|--------|-----------------------------------------------|-------------------------|
|   |                                          |                    |   |
|   | By:                                           | /s/ Andrew Prague  |   |
|   |                                          | Andrew Prague           |   |
|   |                                          | Chief Financial Officer |   |
|   |                                          |                    |   |
|   |                                          |                    |   |
|   | Dated:   August 14, 2009  |                    |

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| Exhibit |                                                                                                                                                                            | Page No. |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
|    |                                                                                                                                                                            |     |
| 31.1    | Chief Executive Officer’s Certification, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                       | 15       |
|    |                                                                                                                                                                            |     |
| 31.2    | Chief Financial Officer’s Certification, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                       | 16       |
|    |                                                                                                                                                                            |     |
| 32      | Certification of Chief Executive Officer and Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | 17       |
|    |                                                                                                                                                                            |     |

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