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                       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, 1999              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 principle 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    X         NO
                                                  -------         -------


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PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP

PART 1 - FINANCIAL INFORMATION
ITEM 1. - FINANCIAL STATEMENTS
BALANCE SHEETS

--------------------------------------------------------------------------------

                                                     March 31,    December 31,
                                                       1999          1998
                                                    (Unaudited)    (Audited)
--------------------------------------------------------------------------------

                                     ASSETS

Assets
     Cash and cash equivalents                        $347,921      $186,610
     Due from Operating Partnership                     14,571       173,404
                                                      --------      --------

Total Assets                                          $362,492      $360,014
                                                      ========      ========


                       LIABILITIES AND PARTNERS' CAPITAL

Liabilities and Partners' Capital
     Accounts payable                                 $      -      $      -
     Partners' Capital                                 362,492       360,014
                                                      --------      --------

Total Liabilities and Partners' Capital               $362,492      $360,014
                                                      ========      ========














                        See notes to financial statements

                                      -2-


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PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP

STATEMENTS OF OPERATIONS
(UNAUDITED)
--------------------------------------------------------------------------------

For the Three Months Ended March 31, 1999 and 1998
(Unaudited)
                                                        1999       1998
                                                      -------------------

 INCOME:
    Interest                                           $2,478     $1,799
                                                       ------     ------

 EXPENSES:
                                                            -          -
    Other expenses                                          -          -
                                                       ------     ------

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

 Net income                                            $2,478     $1,799
                                                       ======     ======

 Net income per unit of limited
    partnership interest outstanding                   $ 4.20     $ 3.05
                                                       ======     ======




















                        See notes to financial statements

                                      -3-


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

--------------------------------------------------------------------------------

                                              Linnaeus-
                                               Phoenix
For the Three Months Ended      Winthrop      Associates     Investor    Total
March 31, 1999 and 1998      Financial Co.,    Limited       Limited   Partners'
(Unaudited)                       Inc.       Partnership     Partners   Capital
--------------------------------------------------------------------------------

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
                               =========      =========    ==========  =========


Balance December 31, 1997      $(270,579)     $(572,488)   $1,136,507   $293,440

Net income                             9              9         1,781      1,799
                               ---------      ---------    ----------  ---------

Balance, March 31, 1998        $(270,570)     $(572,479)   $1,138,288   $295,239
                               =========      =========    ==========  =========


















                        See notes to financial statements

                                      -4-


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PRESIDENTIAL ASSOCIATES I LIMITED PARTNERSHIP

STATEMENTS OF CASH FLOWS
--------------------------------------------------------------------------------

For the Three Months Ended
March 31, 1999 and 1998 (Unaudited)                           1999        1998
--------------------------------------------------------------------------------

Cash flow from operating activities:
   Net income                                              $  2,478    $  1,799
   Adjustments to reconcile net income to
     net cash used in operating activities:
       Increase in accounts payable                               -      19,539
       (Increase) decrease in due from operating
         partnership                                        158,833     (22,483)
                                                           --------    --------

Net cash provided by (used in) operating activities         161,311      (1,145)
                                                           --------    --------

Net increase (decrease) in cash and cash equivalents        161,311      (1,145)

Cash and cash equivalents at beginning of period            186,610     249,420
                                                           --------    --------

Cash and cash equivalents at end of period                 $347,921    $248,275
                                                           ========    ========




















                        See notes to financial statements

                                      -5-


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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, 1998.

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, 1999.

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 1999 is not expected to differ from that for
financial reporting purposes.






                                      -6-


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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 disclosure
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 operation. 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, 1999 and March 31, 1998, 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. It is not expected that the Operating
Partnership will be able to make any distribution to the Partnership in excess
of this amount 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 remained constant
at March 31, 1999 as compared to December 31, 1998. Cash and cash equivalents
increased from $248,275 at March 31, 1998 to $347,921 at March 31, 1999 as a
result of distributions made from the operating partnership. 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-


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

Operating results increased by $679 for the three months ended March 31, 1999 as
compared to the three months ended March 31, 1998 due to more interest income
earned as a result of a larger cash reserve balance at March 31, 1999 as
compared to March 31, 1998.

Year 2000
---------

The Year 2000 Issue is the result of computer programs being written using two
digits rather than four to define the applicable year. The Partnership is
dependent upon the General Partner and its affiliates and Coordinated Services
for management and administrative services. Any computer programs or hardware
that have date-sensitive software or embedded chips may recognize a date using
"00" as the year 1900 rather than the year 2000. This could result in a system
failure or miscalculations causing disruptions of operations, including, among
other things, a temporary inability to process transactions, send invoices, or
engage in similar normal business activities.

During the first half of 1998, Coordinated Services, the General Partner and its
affiliates completed their assessment of the various computer software and
hardware used in connection with the management of the Partnership. This review
indicated that significantly all of the computer programs used by Coordinated
Services, the General Partner and its affiliates are off-the-shelf "packaged"
computer programs which are easily upgraded to be Year 2000 compliant. In
addition, to the extent that custom programs are utilized by Coordinated
Services, the General Partner and its affiliates, such custom programs are Year
2000 compliant.

Following the completion of its assessment of the computer software and
hardware, Coordinated Services, the General Partner and its affiliates began
upgrading those systems which required upgrading. To date, significantly all of
these systems have been upgraded. The Partnership has to date not borne, nor is
it expected that the Partnership will bear any significant cost, in connection
with the upgrade of those systems to requiring remediation. It is expected that
all systems will be remediated, tested and implemented during the first half of
1999.

To date, neither Coordinated Services no the General Partner are aware of any
external agent, including local general partners, with a Year 2000 issue that
would materially impact the Partnership's results of operations, liquidity or
capital resources. However, Coordinated Services and the General Partner have no
means of ensuring that external agents will be Year 2000 compliant. The General
Partner does not believe that the inability of external agents to complete their
Year 2000 resolution process in a timely manner will have a material impact on
the financial position or results of operations of the Partnership. However, the
effect of non-compliance by external agents is not readily determinable.

                                      -8-


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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 B filed as an Exhibit to this
               report

         b)   Reports on Form 8-K










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                                   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 Partners

Date: May 14, 1999                          By:   /s/ Thomas Staples
                                                --------------------------
                                                      Thomas Staples
                                                      Chief Financial Officer

Date: May 14, 1999                          By:   /s/ Michael Ashner
                                                --------------------------
                                                      Michael L. Ashner
                                                      Chief Executive Officer







                                      -10-