<PAGE>



                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549
                                   FORM 10-QSB
                   QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934


For the Quarter Ended March 31, 2000            Commission File Number 0-12210
                      --------------                                   -------



                  PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP
                  ---------------------------------------------
        (exact name of small business issuer as specified in its charter)


               Maryland                                  04-2801764
------------------------------------         --------------------------------
  (State or other jurisdiction of          (I.R.S. Employer Identification No.)
   incorporation or organization)



Five Cambridge Center, Cambridge, MA                             02142
---------------------------------------              ---------------------------
(Address of principal executive offices)                     (Zip Code)


Registrant's telephone number, including area code (617) 234-3000
                                                   --------------


Indicate by check mark 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           NO    X
                       ------       ------



<PAGE>

PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP


PART 1 - FINANCIAL INFORMATION
ITEM 1. - FINANCIAL STATEMENTS
BALANCE SHEETS
<TABLE>
<CAPTION>

--------------------------------------------------------------------------------------------------
                                                                   March 31,          December 31,
                                                                    2000                1999
                                                                 (Unaudited)          (Audited)
--------------------------------------------------------------------------------------------------

                                     ASSETS
<S>                                                            <C>                   <C>
Assets
     Cash and cash equivalents                                 $   419,711              $  433,334
     Due from Operating Partnership                                 17,323                      --
                                                               -----------              ----------

Total assets                                                   $   437,304              $  433,334
                                                               ===========              ==========

                       LIABILITIES AND PARTNERS' CAPITAL


Liabilities and partners' capital
     Accounts payable                                          $        --              $       --
     Partners' capital                                             437,034                 433,334
                                                               -----------              ----------

Total liabilities and partners' capital                        $   437,304              $  433,334
                                                               ===========              ==========
</TABLE>






                        See notes to financial statements

                                      - 2 -
<PAGE>


PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP


 STATEMENTS OF OPERATIONS
 (UNAUDITED)

 For the Three Months Ended March 31, 2000 and 1999
 (Unaudited)
<TABLE>
<CAPTION>

                                                        2000               1999
                                                  -------------------------------------
<S>                                               <C>                <C>
 INCOME:
    Interest                                      $          3,700   $           2,478
                                                  -----------------  ------------------

 EXPENSES:

                                                                 -                   -
    Other expenses                                               -                   -
                                                  -----------------  ------------------

    Total operating expenses                                     -                   -
                                                  -----------------  ------------------

 Net income                                       $          3,700   $           2,478
                                                  =================  ==================

 Net income per unit of limited
    partnership interest outstanding              $          6.27    $            4.20
                                                  =================  ==================
</TABLE>





                        See notes to financial statements

                                      - 3 -
<PAGE>


PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP
STATEMENT OF CHANGES IN PARTNERS' CAPITAL

<TABLE>
<CAPTION>

----------------------------------------------------------------------------------------------------------------------
                                                                Linnaeus-Phoenix
For the Three Months Ended                       Winthrop           Associates           Investor             Total
March 31, 2000 and 1999                       Financial Co.,         Limited             Limited            Partners'
(Unaudited)                                        Inc.            Partnership           Partners            Capital
----------------------------------------------------------------------------------------------------------------------

<S>                                        <C>                 <C>                  <C>                <C>
Balance December 31, 1999                    $       (269,914)  $         (571,823)  $      1,275,071   $     433,334

Net income                                                 19                   19             3,662            3,700
                                             -----------------  -------------------  -----------------  --------------

Balance, March 31, 2000                              (269,895)            (571,804)         1,278,733   $     437,034
                                             =================  ===================  =================  ==============


Balance December 31, 1998                    $       (270,262)  $         (572,171)  $      1,202,447   $     360,014

Net income                                                 12                   12              2,454           2,478
                                             -----------------  -------------------  -----------------  --------------

Balance, March 31, 1999                      $       (270,250)  $         (572,159)  $      1,204,901   $     362,492
                                             =================  ===================  =================  ==============
</TABLE>




                        See notes to financial statements

                                      - 4 -


<PAGE>


PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP
STATEMENTS OF CASH FLOWS
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------
For the Three Months Ended
March 31, 2000 and 1999 (Unaudited)                                                   2000               1999
------------------------------------------------------------------------------------------------------------------
<S>                                                                          <C>                <C>
Cash flow from operating activities:
     Net income                                                              $          3,700   $          2,478
     Adjustments to reconcile net income to
         net cash used in operating activities:
           (Increase) decrease in due from Operating Partnership                      (17,323)           158,833
                                                                             ------------------ ------------------

Net cash provided by (used in) operating activities                                   (13,623)           161,311
                                                                             ------------------ ------------------
Net increase (decrease) in cash and cash equivalents                                  (13,623)           161,311

Cash and cash equivalents at beginning of period                                      433,334            186,610
                                                                             ------------------ ------------------
Cash and cash equivalents at end of period                                   $        419,711   $        347,921
                                                                             ================== ==================
</TABLE>


                        See notes to financial statements

                                      - 5 -
<PAGE>


PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP
NOTES TO FINANCIAL STATEMENTS
March 31, 1999
(Unaudited)


1.       ACCOUNTING AND FINANCIAL REPORTING POLICIES

The condensed financial statements included herein have been prepared by the
Partnership, without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission. The Partnership's accounting and financial
reporting policies are in conformity with generally accepted accounting
principles and include all adjustments in interim periods considered necessary
for a fair presentation of the results of operations. Certain information and
footnote disclosures normally included in financial statements prepared in
accordance with generally accepted accounting principles have been condensed or
omitted pursuant to such rules and regulations. It is suggested that these
financial statements be read in conjunction with the financial statements and
the notes thereto included in the Partnership's Annual Report on Form 10-KSB for
the year ended December 31, 1999.

The accompanying financial statements reflect the Partnership's results of
operations for an interim period and are not necessarily indicative of the
results of operations for the year ending December 31, 2000.

2.       INVESTMENT IN OPERATING PARTNERSHIP

The Partnership accounts for its investment in Presidential Towers, Ltd. (the
"Operating Partnership") using the equity method of accounting. Under the equity
method of accounting, the initial investment is recorded at cost, increased or
decreased by the Partnership's share of income or losses, and decreased by
distributions. Equity in the loss of the Operating Partnership is no longer
recognized once the investment balance reaches zero.

The loss from the Operating Partnership, not recognized since the investment
balance reached zero, will be offset against the Partnership's share of future
income from the Operating Partnership.

3.       TAXABLE LOSS

The Partnership's taxable loss for 2000 is not expected to differ from that for
financial reporting purposes.




                                      - 6 -


<PAGE>


PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP
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.) 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.

This Item should be read in conjunction with the financial statements and other
items contained elsewhere in the report.

Liquidity and Capital Resources
-------------------------------

The Partnership's primary source of liquidity is distributions from Presidential
Towers Ltd., an Illinois limited partnership (the "Operating Partnership"). The
Partnership is responsible for paying various administrative costs associated
with monitoring the Partnership's investment in the Operating Partnership, and
paying various professional fees associated with the affairs of the Partnership.

During the three months ended March 31, 2000 and March 31, 1999, the Operating
Partnership did not make any distributions to the Partnership. A significant
restructuring of the ownership and debt of the Operating Partnership was
finalized in April 1995. As a result of this restructuring, the Partnership is
entitled to receive an annual distribution from the Operating Partnership as a
reimbursement of the Partnership's administrative expenses and professional fees
up to an annual maximum of $30,000. In addition, the Operating Partnership
distributes to the Partnership an amount equal to the amount of income allocated
to the Partnership by the Operating Partnership in each year. It is not expected
that the Operating Partnership will be able to make any distributions to the
Partnership in excess of these amounts until the property is sold. However, due
to the preferred return required to be paid to TKI Presidential Partners and the
Department of Housing and Urban Development, it is likely that a sale of the
property will not generate sufficient funds to permit a distribution to the
Partnership. Accordingly, it is anticipated that limited partners will not
receive a return of their original investment in the Partnership.

The Partnership's liquidity based on cash and cash equivalents decreased by
$13,623 to $419,711 at March 31, 2000 as compared to December 31, 1999 as a
result of cash used in operating activities. Cash and cash equivalents increased
from $347,921 at March 31, 1999 to $419,711 at March 31, 2000 as a result of
distributions made from the Operating Partnership during 1999. It is expected
that so long as the Partnership's administrative expenses do not exceed $30,000
in any year, the Partnership's cash and cash equivalents will remain relatively
constant until the Operating Partnership is liquidated.




                                      - 7 -


<PAGE>
PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP
ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Results of Operations
---------------------

Operating results increased by $1,222 for the three months ended March 31, 2000
as compared to the three months ended March 31, 1999 due to an increase in
interest income which resulted from increased cash balances.





                                      - 8 -

<PAGE>


PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP


PART II - OTHER INFORMATION
---------------------------

Item 6.  Exhibit and reports on Form 8-K

No report on Form 8-K was required to be filed during the period

         a)   Exhibits

                  Exhibit 27, Financial Data Schedule filed as an Exhibit to
                  this report

         b)   Reports on Form 8-K

                  No reports on Form 8-K were filed during the three months
                  ended March 31, 2000.




                                      - 9 -

<PAGE>

PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP


                                   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.

                            PRESIDENTIAL ASSOCIATES I
                            LIMITED PARTNERSHIP
                            (Partnership)

                            By:  Winthrop Financial Co., Inc.
                                 Managing General Partner

Date: May 30, 2000          By:    /s/ Thomas C. Staples
                               ----------------------------------------
                                  Thomas C. Staples
                                  Chief Financial Officer

Date: May 30, 2000          By:   /s/ Michael L. Ashner
                               ----------------------------------------
                                  Michael L. Ashner
                                  Chief Executive Officer





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