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, 1996

					 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,
				    1996        1995        1996        1995

 Income:
   Basic rent, from a related
     party (Note B)            $   79,289  $   79,289  $  237,868  $  252,402
   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)                   1,658,477   1,154,342   1,658,477   1,154,342 
			       ----------   ---------  ----------  ---------- 
      Total income              1,925,766   1,421,631   2,460,345   1,970,744 
			       ----------   ---------  ----------  ---------- 

 Expenses:
   Interest on mortgage            67,353      67,795     202,400     206,147 
   Supervisory services, to a 
     related party (Note C)       180,848     128,204     210,848     158,204 
   Amortization of mortgage 
     refinancing costs              1,957       1,948       5,872       7,441 
			       ----------  ----------  ----------  ---------- 
     Total expenses               250,158     197,947     419,120     371,792 
			       ----------  ----------  ----------  ---------- 
 Net income                    $1,675,608  $1,223,684  $2,041,225  $1,598,952 
			       ==========  ==========  ==========  ========== 

 Earnings per $5,000 partici-
   pation unit, based on 720 
   participation units out- 
   standing during the year     $2,327.23   $1,699.56   $2,835.03   $2,220.77 
				=========   =========   =========   ========= 

 Distributions per $5,000 
   participation consisted of 
   the following:
     Income                     $  250.00   $  250.00   $  750.00   $  750.00 
				=========   =========   =========   ========= 

     At September 30, 1996 and 1995, there were $3,600,000 of participations
     outstanding.<PAGE>
									 3.

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

				      September 30, 1996   December 31, 1995
 Assets
 Current assets:
   Cash                                      $   84,124          $   84,124 
   Rent receivable from Fisk Building     
     Associates, a related party (Note B)     1,533,478                 -0- 
					     ----------          ---------- 
     Total current assets                     1,617,602              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              12,396               6,524
					     ----------          ---------- 
						 28,710              34,582 
					     ----------          ---------- 
       Total assets                          $3,763,347          $2,236,141 
					     ==========          ========== 
 Liabilities and Capital
 Current liabilities:
   Accrued interest payable                  $   22,439          $   22,551 
   Accrued supervisory services,
     to a related party (Note C)                 40,848                -0-  
   First mortgage principal payments
     due within one year (Note B)                20,778              19,369 
					     ----------          ---------- 
       Total current liabilities                 84,065              41,920 
 Long-term debt (Note B)                      2,843,685           2,859,449 
 Capital (See analysis, page 4):
   September 30, 1996                           835,997                  
   December 31, 1995                                               (665,228)
					     ----------          ---------- 
       Total liabilities and capital:
     September 30, 1996                      $3,763,747 
     December 31, 1995                       ==========          $2,236,141 
								 ========== <PAGE>
									 4.




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


				       September 30, 1996   December 31, 1995

     Capital:
       January 1, 1996                        $ (665,228)                    
       January 1, 1995                                            $ (707,968)
	 Add, Net income:  
	   January 1, 1996 through 
	     September 30, 1996                2,041,225                 
	   January 1, 1995 through
	     December 31, 1995                                     1,781,573 
					      ----------          ---------- 
					       1,375,997           1,073,605 

     Less, Distributions:
       Distribution, November 30, 1995
	 of Secondary Overage Rent
	 for the lease year ended
	 September 30, 1995                                        1,018,833 
       Distributions January 1, 1996
	 through September 30, 1996              540,000                     
       Distributions, January 1, 1995
	 through December 31, 1995                                   720,000 
					      ----------          ---------- 
						 540,000           1,738,833 
					      ----------          ---------- 
     Capital:
       September 30, 1996                     $  835,997                     
       December 31, 1995                      ==========          $ (665,228)
								  ========== <PAGE>
									 5.




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


					     January 1, 1996    January 1, 1995
						 through            through    
					  September 30, 1996  September 30, 1995


   Cash flows from operating activities:
     Net income                                 $ 2,041,225        $ 1,598,952 
     Adjustments to reconcile net income 
       to cash provided by operating 
       activities:
     Amortization of mortgage refinancing 
       costs                                          5,872              7,441 
     Change in accrued interest payable                (112)              (924)
     Change in accrued expenses                      40,848             13,204 
     Change in additional rent due               (1,533,478)        (1,032,038)
     Change in mortgage refinancing costs               -0-            (36,758)
						-----------        ----------- 
       Net cash provided by operating
	 activities                                 554,355            549,877 
						-----------        ----------- 
   Cash flows from financing activities:
     Cash distributions                            (540,000)          (540,000)
     Principal payments on long-term debt           (14,355)           (10,239)
						-----------        ----------- 

       Net cash used in financing activities       (554,355)          (550,239)
						-----------        ----------- 
       Net increase (decrease) in cash                  -0-               (362)

   Cash, beginning of period                         84,124             84,485 
						-----------        ----------- 
   Cash, end of period                          $    84,124        $    84,123 
						===========        =========== 

					    January 1, 1996     January 1, 1995
						through             through    
					 September 30, 1996  September 30, 1995

   Cash paid for:
      Interest                                 $   202,513         $   207,071 
					       ===========         ===========<PAGE>
	 250 West 57th St. Associates                                    6.

	 September 30, 1996


	 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, Stanley Katzman
	 and Ralph W. Felsten (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").

		   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
	 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 & Bettex, 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<PAGE>
	 250 West 57th St. Associates                                    7.

	 September 30, 1996


	 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, 1996, Net Lessee
	 reported net operating profit of $4,068,953 after deduction of
	 Basic Rent.  Net Lessee paid Primary Overage Rent of $752,000,
	 together with Secondary Overage Rent of $1,658,447 for the fiscal
	 year ended September 30, 1996.  The Secondary Overage Rent of
	 $1,658,477 represents 50% of the excess of the net operating
	 profit of $4,068,953 over $752,000.  After the payment of $165,848
	 to Counsel as an additional payment for supervisory services, the
	 balance of $1,492,629 will be distributed to the Participants on
	 November 30, 1996.

		   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.  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
	 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 September 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;  <PAGE>
	 250 West 57th St. Associates                                    8.

	 September 30, 1996


		      (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.  

		   Registrant incurred approximately $36,758 of expenses in
	 connection with the Refinancing, including $17,754 which was paid
	 to Counsel for various services and disbursements.  Net Lessee
	 paid $14,453 of these expenses, as additional Basic Rent, and
	 advanced the balance of $22,305 which was repaid from the receipt
	 of Secondary Overage Rent, thus obviating the need to increase the
	 principal amount of the Mortgage Loan.  

		   Net Lessee is obligated to pay Basic Rent equal to the
	 sum of annual mortgage charges plus $28,000.  Accordingly,
	 effective March 3, 1995, Basic Rent was reduced by $4,329 a year,
	 such amount representing the annual savings in mortgage charges
	 under the refinanced Mortgage Loan.  Assuming that Net Lessee
	 continues to earn a profit at least $4,329 in excess of Basic Rent
	 and Primary Overage Rent, Registrant should receive increased
	 Secondary Overage Rent at the annual rate of $2,164 (one half of
	 the annual savings on the Mortgage Loan).  The Refinancing will
	 not affect the amount of regular monthly distributions to the
	 Participants.  

		   It is anticipated that the Refinancing of the Mortgage
	 Loan will have no material effect on the amounts of Basic Rent,
	 monthly advances against Primary Overage Rent, the annual basic
	 payment for supervisory services made to Counsel or the regular
	 monthly distributions to the Participants.  See Note C.

	 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, 1996, 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.<PAGE>
	 250 West 57th St. Associates                                    9.

	 September 30, 1996


		   No remuneration was paid during the three and nine month
	 periods ended September 30, 1996 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, 1996.  In addition,
	 Registrant paid Counsel in the three month period ended September
	 30, 1996 on account of the Additional Payment $125,000 of the
	 $165,848 due to Counsel with respect to Secondary Overage Rent.
	 See Note B.

		   The supervisory services provided to Registrant by
	 Counsel include legal and administrative services 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
	 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 Joint Venturers, by reason of his
	 interest in Counsel, is entitled to receive his pro rata share of
	 any legal fees or other remuneration paid to Counsel for legal and
	 supervisory services rendered to Registrant and Net Lessee.

		   As of September 30, 1996, the Joint Venturers owned of
	 record and beneficially $29,166.68 of Participations, representing
	 less than 1% of the currently outstanding Participations in
	 Registrant.<PAGE>
	 250 West 57th St. Associates                                   10.

	 September 30, 1996


		   In addition, as of September 30, 1996, 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 the Lease.  Registrant is required
	 to pay, from Basic Rent, the charges on the Mortgage Loan and
	 amounts for supervisory services.  After the payment of amounts
	 for supervisory services, Primary Overage Rent and Secondary
	 Overage Rent are distributed to holders of Participations.  See
	 Note C.  Pursuant to the Net Lease, Net Lessee has assumed re-
	 sponsibility for the condition, operation, repair, maintenance and
	 management of the Property.  Accordingly, Registrant need not
	 maintain substantial reserves or otherwise maintain liquid assets
	 to defray any operating expenses of the Property.

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

		   Registrant does not pay dividends.  During the three and
	 nine month periods ended September 30, 1996, Registrant made
	 regular monthly distributions of $83.33 for each $5,000
	 participation ($1,000 per annum for each $5,000 participation).
	 On November 30, 1996, Registrant will make an additional
	 distribution of $2,073 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 the 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.<PAGE>
	 250 West 57th St. Associates                                   11.

	 September 30, 1996


		   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 increased for the three and nine
		   month periods ended September 30, 1996, as
		   compared with the three and nine month periods
		   ended September 30, 1995.  Such increase was the
		   net result of (i) an increase in Secondary Overage
		   Rent payable by the Net Lessee for the lease year
		   ended September 30, 1996, as compared with the
		   lease year ended September 30, 1995 and (ii) a
		   decrease in the Basic Rent now payable under the
		   Net Lease.  See Note B.  otal expenses increased
		   for the three and nine month periods ended
		   September 30, 1996 as compared to the three and
		   nine month periods ended September 30, 1995.  Such
		   increase was the net result of (i) an increase in
		   the Additional Payment being made to Counsel based
		   on the Secondary Overage Rent payable for the
		   lease year ended September 30, 1996 and (ii) a
		   decrease in both interest expense on the Mortgage
		   Loan and amortization of the costs incurred in
		   connection with the Refinancing.  See Note B.

			   Liquidity and Capital Resources

		   There has been no significant change in Registrant's
	 liquidity for the three and nine month periods ended September 30,
	 1996, as compared with the three and nine month periods ended
	 September 30, 1995.  

		   The amortization payments due under the Mortgage Loan
	 (see Note B) will not be sufficient to fully liquidate 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 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,
	 1995, which report and all exhibits thereto are incorporated
	 herein by reference and made a part hereof.<PAGE>
	 250 West 57th St. Associates                                   12.

	 September 30, 1996


			     PART II.  OTHER INFORMATION

	 Item 1.   Legal Proceedings.

		   There are no material pending legal proceedings to which
	 Registrant is a party.

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

		   (a)  The exhibits hereto are incorporated by reference.  

		   (b)  Registrant has not filed any report on Form 8-K
	 during the quarter for which this report is being filed.<PAGE>
	 250 West 57th St. Associates                                   13.

	 September 30, 1996




				     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*


	 Date:  November 13, 1996


		   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*


	 Date:  November 13, 1996










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

	 September 30, 1996



				    EXHIBIT INDEX

	 Number                      Document                      Page *

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








































	 ______________________
	 *Page references are based on sequential numbering system.