FORM 10-Q

			 SECURITIES AND EXCHANGE COMMISSION
			       Washington, D.C. 20549

	 (Mark One)

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

	 For the quarterly period ended September 30, 1997

					 OR

	 [ ] 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 0-2666

			    250 WEST 57th ST. ASSOCIATES
	       (Exact name of registrant as specified in its charter)

	 A New York Partnership                      13-6083380
	 (State or other jurisdiction of             (I.R.S. Employer
	 incorporation or organization)              Identification No.)

		    60 East 42nd Street, New York, New York 10165
		      (Address of principal executive offices)
				     (Zip Code)

				   (212) 687-8700
		(Registrant's telephone number, including area code)

					 N/A
	 (Former name, former address and former fiscal year, if changed
	 since last report)

	 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 [   ] .

	      An Exhibit Index is located on Page 14 of this Report.
	 Number of pages (including exhibits) in this filing:  14.<PAGE>
									 
								   2.




			   PART I.  FINANCIAL INFORMATION                      

	  Item 1.  Financial Statements.    

			      250 West 57th St. Associates
			     Condensed Statement of Income
				    (Unaudited)            

				  For the Three Months     For the Nine Months
				  Ended September 30,      Ended September 30,
				    1997        1996        1997        1996

 Income:
   Basic rent, from a related
     party (Note B)            $   79,289  $   79,289  $  237,868  $  237,868 
   Advance of primary overage 
     rent, from a related 
     party (Note B)               188,000     188,000     564,000     564,000 
   Secondary Overage Rent, 
     from a related party
     (Note B)                   1,326,984   1,658,477   1,326,984   1,658,477 
			       ----------   ---------  ----------  ---------- 
      Total income              1,594,273   1,925,766   2,128,852   2,460,345 
			       ----------   ---------  ----------  ---------- 

 Expenses:
   Interest on mortgage            66,869      67,353     200,980     202,400 
   Supervisory services, to a 
     related party (Note C)       145,708     180,848     175,708     210,848 
   Amortization of mortgage 
     refinancing costs              1,957       1,957       5,872       5,872 
   Fees and expenses               19,909         -0-      19,909         -0- 
			       ----------  ----------  ----------  ---------- 
     Total expenses               234,443     250,158     402,469     419,120 
			       ----------  ----------  ----------  ---------- 
 Net income                    $1,359,830  $1,675,608  $1,726,383  $2,041,225 
			       ==========  ==========  ==========  ========== 

 Earnings per $5,000 partici-
   pation unit, based on 720 
   participation units out- 
   standing during the year     $1,888.65   $2,327.23   $2,397.75   $2,835.03 
				=========   =========   =========   ========= 

 Distributions per $5,000 
   participation consisted of 
   the following:
     Income                     $1,888.65   $2,327.23   $2,397.75   $2,835.03 
     Increase (Decrease) in
       capital deficit          (1,638.65)  (2,077.23)  (1,647.75)  (2,085.03)
				----------  ----------  ----------  ----------

	   Total distribution   $  250.00   $  250.00   $  750.00   $  750.00 
				=========   =========   =========   ========= 

     At September 30, 1997 and 1996, there were $3,600,000 of participations
     outstanding.<PAGE>
									 
									3.



			  250 West 57th St. Associates
			    Condensed Balance Sheet
				 (Unaudited)          

				      September 30, 1997   December 31, 1996
 Assets
 Current assets:
   Cash                                      $   84,124          $   84,124 
   Rent receivable, from Fisk
     Building Associates, a related
     party (Note B)                           1,326,984                 -0- 
					     ----------          ---------- 
     Total current assets                     1,411,108              84,124 
					     ----------          ---------- 
 Real estate, at cost:
   Property situated at 250-264 West 
     57th Street, New York, New York:
     Land                                     2,117,435           2,117,435 
     Building                                 4,940,682           4,940,682 
       Less: Accumulated depreciation         4,940,682           4,940,682 
					     ----------          ---------- 
						   -0-                 -0-  
     Building improvements                      688,000             688,000 
       Less: Accumulated depreciation           688,000             688,000 
					     ----------          ---------- 
						   -0-                 -0-  
     Tenants' installations and
       improvements                             249,791             249,791 
       Less: Accumulated amortization           249,791             249,791 
					     ----------          ---------- 
						   -0-                 -0-  
 Other assets:
   Mortgage refinancing costs                    41,106              41,106 
     Less: Accumulated amortization              20,226              14,354 
					     ----------          ---------- 
						 20,880              26,752 
					     ----------          ---------- 
       Total assets                          $3,549,423          $2,228,311 
					     ==========          ========== 
 Liabilities and Capital
 Current liabilities:
   Accrued interest payable                  $   22,275          $   22,399 
   Accrued Fees and Expenses                     19,909 
   Accrued Supervisory Services,
     to a related party (Note C)                130,708 
   First mortgage principal payments
     due within one year (Note B)                22,817              21,270 
					     ----------          ---------- 
       Total current liabilities                195,709              43,669 
 Long-term debt (Note B)                      2,820,868           2,838,179 
 Capital (See analysis, page 4):
   September 30, 1997                           532,846                -0-  
   December 31, 1996                               -0-             (653,537)
					     ----------          ---------- 
       Total liabilities and capital:
     September 30, 1997                      $3,549,423 
     December 31, 1996                       ==========          $2,228,311 
								 ========== <PAGE>
									 
								 4.




			  250 West 57th St. Associates
			       Analysis of Capital
				  (Unaudited)         


				       September 30, 1997   December 31, 1996

     Capital:
       January 1, 1997                        $ (653,537)                    
       January 1, 1996                                            $ (665,228)
	 Add, Net income:  
	   January 1, 1997 through 
	     September 30, 1997                1,726,383                -0-  
	   January 1, 1996 through
	     December 31, 1996                      -0-            2,224,320 
					      ----------          ---------- 
					       1,072,846           1,559,092 

     Less, Distributions:
       Distribution, November 30, 1996
	 of Secondary Overage Rent
	 for the lease year ended
	 September 30, 1996                         -0-            1,492,629 
       Distributions January 1, 1997
	 through September 30, 1997              540,000                -0-  
       Distributions, January 1, 1996
	 through December 31, 1996                  -0-              720,000 
					      ----------          ---------- 
						 540,000           2,212,629 
					      ----------          ---------- 
     Capital:
       September 30, 1997                      $ 532,846                     
       December 31, 1996                      ==========          $ (653,537)
								  ========== <PAGE>
									 
								  5.




			    250 West 57th St. Associates
			Condensed Statements of Cash Flows 
				    (Unaudited)            


					     January 1, 1997    January 1, 1996
						 through            through    
					  September 30, 1997  September 30, 1996


   Cash flows from operating activities:
     Net income                                  $1,726,383        $ 2,041,225 
     Adjustments to reconcile net income 
       to cash provided by operating 
       activities:
     Amortization of mortgage refinancing 
       costs                                          5,872              5,872 
     Change in accrued interest payable                (124)              (112)
     Change in accrued expenses                     150,617             40,848 
     Change in additional rent due               (1,326,984)        (1,533,478)
						-----------        ----------- 
       Net cash provided by operating
	 activities                                 555,764            554,355 
						-----------        ----------- 
   Cash flows from financing activities:
     Cash distributions                            (540,000)          (540,000)
     Principal payments on long-term debt           (15,764)           (14,355)
						-----------        ----------- 

       Net cash used in financing activities       (555,764)          (554,355)
						-----------        ----------- 
       Net increase (decrease) in cash                  -0-                -0- 

   Cash, beginning of period                         84,124             84,124 
						-----------        ----------- 
   Cash, end of period                          $    84,124        $    84,124 
						===========        =========== 

					    January 1, 1997     January 1, 1996
						through             through    
					 September 30, 1997  September 30, 1996

   Cash paid for:
      Interest                                 $   201,104         $   202,513 
					       ===========         ===========<PAGE>
	 
	 250 West 57th St. Associates                                    6.

	 September 30, 1997


	 NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

	 Note A - Basis of Presentation

		   The accompanying unaudited condensed financial
	 statements have been prepared in accordance with the instructions
	 to Form 10-Q and therefore do not include all information and
	 footnotes necessary for a fair presentation of financial position,
	 results of operations and statement of cash flows in conformity
	 with generally accepted accounting principles.  The accompanying
	 unaudited condensed financial statements include all adjustments
	 (consisting only of normal recurring accruals) which are, in the
	 opinion of the joint venturers in Registrant, necessary for a fair
	 statement of the results for such interim periods.  The joint
	 venturers in Registrant believe that the accompanying unaudited
	 condensed financial statements and the notes thereto fairly
	 disclose the financial condition and results of Registrant's
	 operations for the periods indicated and are adequate to make the
	 information presented therein not misleading.

	 Note B - Interim Period Reporting

		   The results for interim periods are not necessarily
	 indicative of the results to be expected for a full year.  

		   Registrant is a New York joint venture which was
	 organized on May 25, 1953.  On September 30, 1953, Registrant
	 acquired fee title to the "Fisk Building" (the "Building") and the
	 land thereunder, located at 250-264 West 57th Street, New York,
	 New York (hereinafter, collectively, the "Property").
	 Registrant's joint venturers are Peter L. Malkin and Stanley
	 Katzman (the "Joint Venturers"), each of whom also acts as an
	 agent for holders of participations in their undivided joint
	 venture interests in Registrant (the "Participants").

		   On August 6, 1997 the Partners mailed to the
	 Participants a STATEMENT ISSUED BY THE AGENTS IN CONNECTION WITH
	 THE SOLICITATION OF CONSENTS OF THE PARTICIPANTS (the "Statement")
	 requesting their authorization concerning certain governance
	 issues, including the designation of Additional Successor agents.
	 The details of the Partners' proposal are provided in the
	 Definitive Proxy Statement which was filed with the Securities and
	 Exchange Commission as Schedule 14-A on August 6, 1997, and is
	 incorporated herein by reference.  On September 9, 1997, the
	 Partners mailed to the non-responding Participants a request for a
	 response to the solicitation of consents which letter was filed
	 with the Securities and Exchange Commission as Schedule A-14A on
	 September 9, 1997 and is incorporated herein by reference.  On
	 November 6, 1997, the Partners received the necessary consents for
	 the appointment of additional Successor Agents.

		   Registrant leases the Property to Fisk Building
	 Associates (the "Net Lessee"), under a long-term net operating
	 lease (the "Net Lease"), the current term of which expires on<PAGE>
         
	 250 West 57th St. Associates                                    7.

	 September 30, 1997


	 September 30, 2003.  Net Lessee is a New York partnership in which
	 Mr. Malkin is among its partners.  In addition, each of the Joint
	 Venturers is also among the members of the law firm of Wien &
	 Malkin LLP, 60 East 42nd Street, New York, New York, counsel to
	 Registrant and Net Lessee ("Counsel").  See Note C of this Item 1
	 ("Note C").  

		   Under the Net Lease, Net Lessee must pay (i) annual
	 basic rent equal to the sum of $28,000 plus an amount equal to the
	 rate of constant payments for interest and amortization required
	 annually under the first mortgage described below (the "Basic
	 Rent"), and (ii)(A) primary overage rent equal to the lesser of
	 (1) Net Lessee's net operating income for the preceding lease year
	 or (2) $752,000 (the "Primary Overage Rent"), and (B) secondary
	 overage rent equal to 50% of any remaining balance of Net Lessee's
	 net operating income for such lease year ("Secondary Overage
	 Rent").  

		   Net Lessee is required to make a monthly payment to
	 Registrant, as an advance against Primary Overage Rent, of an
	 amount equal to its operating profit for its previous lease year
	 in the maximum amount of $752,000 per annum.  Net Lessee currently
	 advances $752,000 each year which permits Registrant to make
	 regular monthly distributions at 20% per annum on the
	 Participants' remaining cash investment.

		   For the lease year ended September 30, 1997, Net Lessee
	 reported net operating profit of $3,405,968 after deduction of
	 Basic Rent.  Net Lessee paid Primary Overage Rent of $752,000,
	 together with Secondary Overage Rent of $1,326,984 for the lease
	 year ended September 30, 1997.  The Secondary Overage Rent of
	 $1,326,984 represents 50% of the excess of the net operating
	 profit of $3,405,968 over $752,000.  After the payment of $19,909
	 for fees and expenses in connection with the August 6, 1997
	 Consent Solicitation Program and $130,708 to Counsel as an
	 additional payment for supervisory services, the balance of
	 $1,176,367 will be distributed to the Participants on December 2,
	 1997.

		   Secondary Overage Rent income is recognized when earned
	 from Net Lessee, at the close of the lease year ending September
	 30.  Such income is not determinable until Net Lessee, pursuant to
	 the Net Lease, renders to Registrant a certified report on the
	 operation of the Property.  Secondary Overage rent for the lease
	 year ended September 30, 1997 has not yet been determined and
	 therefore is not reflected in earnings this quarter.  The Net
	 Lease does not provide for the Net Lessee to render interim
	 reports to Registrant, so no income is reflected for the period
	 between the end of the lease year and the end of Registrant's
	 fiscal year.  

		   The Net Lease provides for one renewal option of 25
	 years.  The Participants in Registrant and the partners in Net<PAGE>
	 
	 250 West 57th St. Associates                                    8.

	 September 30, 1997


	 Lessee have agreed to execute three additional 25-year renewal
	 terms on or before the expiration of the then applicable renewal
	 term.  

		   Effective March 1, 1995, the first mortgage loan on the
	 Property, in the principal amount of $2,890,758, held by Apple
	 Bank for Savings was refinanced (the "Refinancing").  The material
	 terms of the refinanced mortgage loan (the "Mortgage Loan") are as
	 follows:

			(i)  a maturity date of June 1, 2000;

		       (ii)  monthly payments of $24,096 aggregating
		   $289,157 per annum applied first to interest at the rate
		   of 9.4% per annum and the balance in reduction of
		   principal;  

		      (iii)  no prepayment until after the third loan year.
		   Thereafter, a 3% penalty will be imposed in the fourth
		   loan year and a 2% penalty during the fifth loan year.
		   No prepayment penalty will be imposed if the Mortgage
		   Loan is paid in full during the last 90 days of the
		   fifth loan year; and

		       (iv)  no Partner or Participant will have any
		   personal liability for principal of, or interest on, the
		   Mortgage Loan.  

	 Note C - Supervisory Services

		   Registrant pays Counsel for legal fees and supervisory
	 services and disbursements: (i) $40,000 per annum (the "Basic
	 Payment"); and (ii) an additional payment of 10% of all
	 distributions to Participants in any year in excess of the amount
	 representing a return to them at the rate of 15% per annum on
	 their remaining cash investment (the "Additional Payment").  At
	 September 30, 1997, the Participants' remaining cash investment
	 was $3,600,000.  Of the Basic Payment, $28,000 is payable from
	 Basic Rent and $12,000 is payable from Primary Overage Rent
	 received by Registrant.

		   No remuneration was paid during the three and nine month
	 periods ended September 30, 1997 by Registrant to any of the Joint
	 Venturers as such.  Pursuant to the fee arrangements described
	 herein, Registrant also paid Counsel $10,000 and $30,000,
	 respectively, of the Basic Payment and $5,000 and $15,000,
	 respectively, on account of the Additional Payment, for the three
	 and nine month periods ended September 30, 1997.  

		   The supervisory services provided to Registrant by
	 Counsel include legal, administrative and financial services.  The
	 legal and administrative services include acting as general
	 counsel to Registrant, maintaining all of its partnership and
	 Participant records, performing physical inspections of the<PAGE>
         
	 250 West 57th St. Associates                                    9.

	 September 30, 1997


	 Building, reviewing insurance coverage and conducting annual
	 partnership meetings.  Financial services include monthly receipt
	 of rent from the Net Lessee, payment of monthly and additional
	 distributions to the Participants, payment of all other
	 disbursements, confirmation of the payment of real estate taxes,
	 and active review of financial statements submitted to Registrant
	 by the Net Lessee and financial statements audited by and tax
	 information prepared by Registrants' independent certified public
	 accountant, and distribution of such materials to the
	 Participants.  Counsel also prepares quarterly, annual and other
	 periodic filings with the Securities and Exchange Commission and
	 applicable state authorities.

		   Reference is made to Note B of Item 1 ("Note B") for a
	 description of the terms of the Net Lease between Registrant and
	 Net Lessee.  The respective interests, if any, of each Joint
	 Venturer in Registrant and in Net Lessee arise solely from such
	 person's ownership of participations in Registrant and partnership
	 interests or participations in Net Lessee.  The Joint Venturers
	 receive no extra or special benefit not shared on a pro rata basis
	 with all other Participants in Registrant or partners in Net
	 Lessee. However, each of the two Joint Venturers, by reason of his
	 respective partnership interest in Counsel, is entitled to receive
	 his pro rata share of any legal fees or other remuneration paid to
	 Counsel for legal services rendered to Registrant and Net Lessee.

		   As of September 30, 1997, the Joint Venturers owned of
	 record and beneficially $24,167 of Participations, representing
	 less than 1% of the currently outstanding Participations in
	 Registrant.

		   In addition, as of September 30, 1997, certain of the
	 Joint Venturers in Registrant (or their respective spouses) held
	 additional Participations as follows:

		   Isabel Malkin, the wife of Peter L. Malkin, owned of
		   record and beneficially $70,000 of Participations.
		   Mr. Malkin disclaims any beneficial ownership of such
		   Participations.

	 Item 2.   Management's Discussion and Analysis of
		   Financial Condition and Results of Operations.

		   Registrant was organized solely for the purposes of
	 owning the Property subject to a net operating lease of the
	 Property held by Net Lessee.  Registrant is required to pay, from
	 Basic Rent, the charges on the Mortgage Loan and amounts for
	 supervisory services and to then distribute the balance of such
	 Basic Rent to holders of participations.  See Note C of Item 1.
	 Pursuant to the Net Lease, Net Lessee has assumed responsibility
	 for the condition, operation, repair, maintenance and management
	 of the Property.  Accordingly, Registrant need not maintain sub-
	 stantial reserves or otherwise maintain liquid assets to defray
	 any operating expenses of the Property.<PAGE>
         
	 250 West 57th St. Associates                                   10.

	 September 30, 1997


		   Registrant's results of operations are affected
	 primarily by the amount of rent payable to it under the Net Lease.
	 The amounts of Primary Overage Rent and Secondary Overage Rent are
	 affected by the New York City economy and its real estate market.
	 It is difficult to forecast the New York City economy and real
	 estate market over the next few years.  

		   Registrant does not pay dividends.  During the three and
	 nine month periods ended September 30, 1997, Registrant made
	 regular monthly distributions of $83.33 for each $5,000
	 participation ($1,000 per annum for each $5,000 participation).
	 On December 2, 1997, Registrant will make an additional
	 distribution of $1,633.84 for each $5,000 participation.  Such
	 distribution represents the balance of Secondary Overage Rent
	 payable by Net Lessee in accordance with the terms of the Net
	 Lease after payment of fees and expenses for the consent
	 solicitation and Additional Payment to Counsel.  See Notes B and
	 C.  There are no restrictions on Registrant's present or future
	 ability to make distributions; however, the amount of such
	 distributions depends solely on the ability of Net Lessee to make
	 monthly payments of Basic Rent, Primary Overage Rent and Secondary
	 Overage Rent to Registrant in accordance with the terms of the Net
	 Lease.  Registrant expects to make distributions so long as it
	 receives the payments provided for under the Net Lease.  See Note
	 B.

		   The following summarizes, with respect to the current
	 period and corresponding period of the previous year, the material
	 factors affecting Registrant's results of operations for such
	 periods:
		   Total income decreased for the three and nine
		   month periods ended September 30, 1997, as
		   compared with the three and nine month periods
		   ended September 30, 1996.  Such decrease was the
		   result of a decrease in the Secondary Overage Rent
		   payable by the Net Lessee for the lease year ended
		   September 30, 1997, as compared with the lease
		   year ended September 30, 1996.  

			Total expenses decreased for the three and
		   nine month periods ended September 30, 1997 as
		   compared to the three and nine month periods ended
		   September 30, 1996.  Such decrease was mainly
		   attributable to a decrease in the Additional
		   Payment being made to Counsel based on the
		   Secondary Overage Rent payable for the lease year
		   ended September 30, 1997.  

			   Liquidity and Capital Resources

		   There has been no significant change in Registrant's
	 liquidity for the three and nine month periods ended September 30,
	 1997, as compared with the three and nine month periods ended
	 September 30, 1996.<PAGE>
         
	 250 West 57th St. Associates                                   11.

	 September 30, 1997


		   The amortization payments due under the Mortgage Loan
	 (see Note B of Item 1 hereof) will not be sufficient to liquidate
	 fully the outstanding principal balance thereof at maturity in
	 2000.  The Registrant does not maintain any reserve to cover the
	 payment of any mortgage indebtedness at or prior to maturity.
	 Therefore, repayment of such indebtedness will depend on
	 Registrant's ability to arrange a further refinancing of the
	 Mortgage Loan.  The ability of Registrant to obtain any such
	 refinancing will depend upon several factors, including the value
	 of the Property at that time and future trends in the real estate
	 market and the economy in the geographic area in which the
	 Property is located.  

		   Registrant anticipates that funds for working capital
	 for the property will be provided by rental payments received from
	 the Net Lessee and, to the extent necessary, from additional
	 capital investment by the partners  in the Net Lessee and/or
	 external financing.  However, as noted above, Registrant has no
	 requirement to maintain substantial reserves to defray any
	 operating expenses of the Property.  Registrant foresees no need
	 to make material commitments for capital expenditures while the
	 Net Lease is in effect.

				      Inflation

		   Registrant believes that there has been no material
	 change in the impact of inflation on its operations since the
	 filing of its report on Form 10-K for the year ended December 31,
	 1996, which report and all exhibits thereto are incorporated
	 herein by reference and made a part hereof.

			     PART II.  OTHER INFORMATION

	 Item 1.   Legal Proceedings.

		   The Property of Registrant is the subject of the
	 following pending litigation:

		   Wien & Malkin LLP, et. al. v. Helmsley-Spear, Inc., et.
	 al.  On June 19, 1997 Wien & Malkin LLP and Peter L. Malkin filed
	 an action in the Supreme Court of the State of New York, on behalf
	 of themselves and various partnerships, including Registrant,
	 against Helmsley-Spear, Inc. and Leona Helmsley.  The filing of
	 the action was accompanied by a motion for a Temporary Restraining
	 Order and a Preliminary Injunction by which the plaintiffs sought
	 the return of over $5,000,000 in Empire State Building Company
	 funds which were being wrongfully held by Helmsley-Spear, Inc., an
	 order preventing Leona Helmsley from further violations of the
	 partnership agreements of the partnerships, and expedited
	 discovery of Helmsley-Spear, Inc. and Leona Helmsley regarding the
	 financial status of Helmsley-Spear, Inc.  In their complaint,
	 plaintiffs sought the same relief requested in the motion for a
	 Temporary Restraining Order and Preliminary Injunction, as well as
	 the removal of Helmsley-Spear, Inc. as managing and leasing agent<PAGE>
	 
	 250 West 57th St. Associates                                   12.

	 September 30, 1997


	 for all of the buildings owned by the partnerships on whose behalf
	 the action was brought.  Plaintiffs also sought an order
	 precluding Leona Helmsley from exercising any partner management
	 powers in the partnerships.  In August, 1997, the Supreme Court
	 directed that the foregoing disputes proceed to arbitration.  As a
	 result, Mr. Malkin and Wien & Malkin LLP have filed an arbitration
	 complaint seeking such relief against Helmsley-Spear, Inc. and
	 Mrs. Helmsley before The American Arbitration Association.
	 Helmsley-Spear, Inc. and Mrs. Helmsley have served answers denying
	 liability and asserting various affirmative defenses and
	 counterclaims.  Mr. Malkin and Wien & Malkin LLP intend to file a
	 reply denying the counterclaims; the reply is scheduled for
	 December, 1997.

	 Item 4.   Submission of Matters to a Vote of Participants.

		   On August 6, 1997, the consent of the Participants was
	 sought to approve certain governance proposals, including the
	 designation of additional Successor Agents, as described in the
	 Statement.  On September 9, 1997, the Partners mailed to the non-
	 responding Participants a request for a response to the
	 solicitation of consents which letter was filed with the
	 Securities and Exchange Commission as  Schedule A-14A on
	 September 10, 1997 and is incorporated herein by reference.  See
	 Item 1(a). 

	 Item 6.   Exhibits and Reports on Form 8-K.

		   (a)  The exhibits hereto are incorporated by reference.  

		   (b)  Registrant filed a Form 8-K on July 1, 1997
	 reporting the commencement of an action against Helmsley-Spear,
	 Inc. and Leona M. Helmsley.  See Item 1.<PAGE>
         
	 250 West 57th St. Associates                                   13.

	 September 30, 1997




				     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.

		   The individual signing this report on behalf of
	 Registrant is Attorney-in-Fact for Registrant and each of the
	 Joint Venturers in Registrant, pursuant to a Power of Attorney,
	 dated March 29, 1996 (the "Power").


	 250 WEST 57TH ST. ASSOCIATES
	 (Registrant)



	 By: /s/ Stanley Katzman               
		 Stanley Katzman, Attorney-in-Fact*


	 Dated: November 25, 1997


		   Pursuant to the requirements of the Securities Exchange
	 Act of 1934, this report has been signed by the undersigned as
	 Attorney-in-Fact for each of the Joint Venturers in Registrant,
	 pursuant to the Power, on behalf of Registrant and as a Joint
	 Venturer in Registrant on the date indicated.


	 By: /s/ Stanley Katzman              
		 Stanley Katzman, Attorney-in-Fact*


	 Dated: November 25, 1997










	 ______________________
	    *   Mr. Katzman supervises accounting functions for
		Registrant.<PAGE>
         
	 250 West 57th St. Associates                                   14.

	 September 30, 1997



				    EXHIBIT INDEX

	 Number                      Document                      Page *

	  2(a)     Proxy Statement issued by the Partners in
		   connection with the solicitation of consents
		   of the Participants, which was filed on
		   Schedule 14A by Registrant on August 6, 1997 
		   and is incorporated herein by reference.

	  2(b)     Letter to Non-Responding Participants dated
		   September 9, 1997 requesting a response to
		   the Consent Solicitation which was filed on
		   Schedule A-14A by Registrant on September 10,
		   1997 and is incorporated herein by reference.

	 25        Power of Attorney dated March 29, 1996,
		   which was filed as Exhibit 24 to year
		   ended December 31, 1995 and is incorpor-
		   ated by reference as an exhibit hereto.




























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