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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 September 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 itscharter)                                          |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                        |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 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 has submitted electronically and      posted on its corporate Web site, if any, every Interactive Data File      required to be submitted and posted pursuant to Rule 405 of Regulation S-T      (232.405 of this chapter) during the preceding 12 months (or for such      shorter period that the registrant was required to submit and post such      files)Yes o    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 o   No 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      controlnumber. |

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|                                                                                    |   | September      30, 2009(Unaudited) |      |   | December      31, 2008(Audited) |   |
|-----------------------------------------------------------------------------------------|--------|------------------------------------|-----------|--------|---------------------------------|--------|
|                                                                                    |   |                               |      |   |                            |   |
| Assets                                                                                  |   |                               |      |   |                            |   |
|                                                                                    |   |                               |      |   |                            |   |
| Cash      and cash equivalents                                                          |   | $                                  | 6,862,317 |   |                            | $      | 7,094,593 |   |
| Due      from investor limited partners, net      of allowance of $458,532 and $404,300 |   |                               | 3,310     |   |                            |   | 3,310 |   |
| Due      from affiliates, net      of allowance of $120,000 and $0                 |   |                               | —   |   |                            |   | 60,000 |   |
|                                                                                    |   |                               |      |   |                            |   |   |   |
| Total      Assets                                                                       |   | $                                  | 6,865,627 |   |                            | $      | 7,157,903 |   |
|                                                                                    |   |                               |      |   |                            |   |   |   |
| Liabilities and Partners'      Equity                                                   |   |                               |      |   |                            |   |   |   |
|                                                                                    |   |                               |      |   |                            |   |   |   |
| Liabilities:                                                                            |   |                               |      |   |                            |   |   |   |
|                                                                                    |   |                               |      |   |                            |   |   |   |
| Accounts      payable                                                                   |   | $                                  | 18,750    |   |                            | $      | 46,923 |   |
| Due      to affiliates                                                                  |   |                               | 11,250    |   |                            |   | — |   |
| Due      to investor limited partners                                                   |   |                               | 241,116   |   |                            |   | 347,793 |   |
|                                                                                    |   |                               |      |   |                            |   |   |   |
| Total      Liabilities                                                                  |   |                               | 271,116   |   |                            |   | 394,716 |   |
|                                                                                    |   |                               |      |   |                            |   |   |   |
| Partners'      Equity:                                                                  |   |                               |      |   |                            |   |   |   |
|                                                                                    |   |                               |      |   |                            |   |   |   |
| Partners'      Equity                                                                   |   |                               | 6,594,511 |   |                            |   | 6,763,187 |   |
|                                                                                    |   |                               |      |   |                            |   |   |   |
| Total      Liabilities and Partners' Equity                                             |   | $                                  | 6,865,627 |   |                            | $      | 7,157,903 |   |

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| Statements      of Operations (Unaudited)                                        |   |
|----------------------------------------------------------------------------------|--------|
|                                                                             |   |
|                                                                             |   | For      The Three Months Ended |   |   | For      the Nine Months Ended |   |
|                                                                             |   | September      30, |   |   | September      30, |   |   | September      30, |   |   | September      30, |   |
|                                                                             |   | 2009 |   |   | 2008 |   |   | 2009 |   |   | 2008 |   |
| Income:                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Distribution      from operating partnership                                     |   | $ | — |   |   | $ | — |   |   | $ | — |   |   | $ | 1,679,832 |   |
| Interest      and dividends                                                      |   |   | 26,498 |   |   |   | 63,365 |   |   |   | 98,456 |   |   |   | 249,840 |   |
|                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      income                                                                |   |   | 26,498 |   |   |   | 63,365 |   |   |   | 98,456 |   |   |   | 1,929,672 |   |
|                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Legal      and Professional Fees                                                 |   |   | 78,426 |   |   |   | 30,456 |   |   |   | 130,221 |   |   |   | 94,620 |   |
| Other                                                                            |   |   | 18,827 |   |   |   | 15,533 |   |   |   | 136,911 |   |   |   | 35,813 |   |
|                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      expenses                                                              |   |   | 97,253 |   |   |   | 45,989 |   |   |   | 267,132 |   |   |   | 130,433 |   |
|                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income (loss)                                                           |   | $ | (70,755 | ) |   | $ | 17,376 |   |   | $ | (168,676 | ) |   | $ | 1,799,239 |   |
|                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income (loss) per Unit of Limited Partnership Interest      outstanding |   | $ | (119.92 | ) |   | $ | 29.45 |   |   | $ | (285.89 | ) |   | $ | 3,049.56 |   |

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|                                                               |   | Managing      General Partner   |     |    | General      Partner                         |   |     |                    |   |   |                       |    |
|--------------------------------------------------------------------|--------|---------------------------------|----------|---------|----------------------------------------------|--------|----------|-------------------------|--------|--------|----------------------------|---------|
| For      the Nine Months EndedSeptember      30, 2009(Unaudited)   |   | WinthropFinancial      Co.,Inc. |     |    | Linnaeus-PhoenixAssociatesLimitedPartnership |   |     | InvestorLimitedPartners |   |   | Total      Partners'Equity |    |
|                                                               |   |                            |     |    |                                         |   |     |                    |   |   |                       |    |
| Partners’      equity (deficit), December      31, 2008 |   | $                               | (289,536 | )       |                                         | $      | (591,445 | )                       |   | $      | 7,644,168                  |    |   | $ | 6,763,187 |   |
|                                                               |   |                            |     |    |                                         |   |     |                    |   |   |                       |    |   |   |   |   |
| Net      loss                                                      |   |                            | (844     | )  |                                         |   | (844     | )                       |   |   | (166,988                   | )  |   |   | (168,676 | )  |
|                                                               |   |                            |     |    |                                         |   |     |                    |   |   |                       |    |   |   |   |   |
| Partners’      equity (deficit),September      30, 2009      |   | $                               | (290,380 | )       |                                         | $      | (592,289 | )                       |   | $      | 7,477,180                  |    |   | $ | 6,594,511 |   |

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| Statements      of Cash Flows (Unaudited)                             |   |                           |      |   |               |   |
|-----------------------------------------------------------------------|--------|--------------------------------|-----------|--------|--------------------|--------|
|                                                                  |   | For      The Nine Months Ended |
|                                                                  |   | September      30,             |      |   | September      30, |
|                                                                  |   | 2009                           |      |   | 2008               |
| Cash      Flows From Operating Activities:                            |   |                           |      |   |               |
|                                                                  |   |                           |      |   |               |
| Net      income (loss)                                                |   | $                              | (168,676  | )      |               | $      | 1,799,239 |   |
| Adjustments      to reconcile net income to net cash                  |   |                           |      |   |               |   |   |   |
|    used      in operating activities:                  |   |                           |      |   |               |   |   |   |
| Bad      debts                                                        |   |                           | 174,232   |   |               |   | 35,368 |   |
| Increase      in interest income for adjustment to distributions      |   |                           | (54,232   | )      |               |   | (46,403 | ) |
| Increase      in due from affiliates                                  |   |                           | (60,000   | )      |               |   | — |   |
| Increase      in due to affiliates                                    |   |                           | 11,250    |   |               |   | — |   |
| Increase      in amounts receivable from investor limited partner     |   |                           | —   |   |               |   | (3,310 | ) |
| Decrease      in accounts payable                                     |   |                           | (28,173   | )      |               |   | (36,553 | ) |
| 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 operating activities                            |   |                           | (125,599  | )      |               |   | (2,674,035 | ) |
|                                                                  |   |                           |      |   |               |   |   |   |
| 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                        |   |                           | (232,276  | )      |               |   | (4,306,974 | ) |
|                                                                  |   |                           |      |   |               |   |   |   |
| Cash      and cash equivalents, beginning of period                   |   |                           | 7,094,593 |   |               |   | 11,497,853 |   |
|                                                                  |   |                           |      |   |               |   |   |   |
| Cash      and cash equivalents, end of period                         |   | $                              | 6,862,317 |   |               | $      | 7,190,879 |   |
|                                                                  |   |                           |      |   |               |   |   |   |

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

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

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

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

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|  | 31.1 | Chief      Executive Officer’s Certification, pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002. |
|--|------|---------------------------------------------------------------------------------------------------------------------|

|  | 31.2 | Chief      Financial Officer’s Certification, pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002. |
|--|------|---------------------------------------------------------------------------------------------------------------------|

|  | 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. |
|--|--------|---------------------------------------------------------------------------------------------------------|

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