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<FONT FACE="Courier,Courier New"><P ALIGN="CENTER">FORM 10-Q</P>

<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>
<P ALIGN="CENTER">Washington, D.C. 20549</P>

<P>(Mark One)</P>

<P>[x]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF</P>
<P ALIGN="CENTER">THE SECURITIES EXCHANGE ACT OF 1934</P>

<P>For the quarterly period ended March 31, 2000</P>

<P ALIGN="CENTER">OR</P>

<P>[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF</P>
<P ALIGN="CENTER">THE SECURITIES EXCHANGE ACT OF 1934</P>

<P>For the transition period from ____________ to ___________</P>

<P>Commission file number 0-2666</P>

<P ALIGN="CENTER">250 WEST 57th ST. ASSOCIATES</P>
<P ALIGN="CENTER">(Exact name of registrant as specified in its charter)</P>

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

<P ALIGN="CENTER">60 East 42nd Street, New York, New York 10165</P>
<P ALIGN="CENTER">(Address of principal executive offices)</P>
<P ALIGN="CENTER">(Zip Code)</P>

<P ALIGN="CENTER">(212) 687-8700</P>
<P ALIGN="CENTER">(Registrant's telephone number, including area code)</P>

<P ALIGN="CENTER">N/A</P>
<P>(Former name, former address and former fiscal year, if changed since last report)</P>

<P>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 [   ] .</P>

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

<P ALIGN="CENTER">PART I. FINANCIAL INFORMATION</P>
<P ALIGN="CENTER"></P>
<P>Item 1. Financial Statements.</P>

<P ALIGN="CENTER">250 West 57th St. Associates</P>
<P ALIGN="CENTER">Condensed Statement of Income</P>
<P ALIGN="CENTER">(Unaudited)</P>
<P ALIGN="CENTER"></P>
<P>For the Three Months</P>
<P>Ended March 31,</P>
<P>2000	1999</P>
<P>Income:</P>
<P>  Basic rent, from a related </P>
<P>    party (Note B)	$  101,518	$   79,289</P>
<P>  Advance of primary overage rent</P>
<P>    from a related party (Note B)	   188,000	   188,000</P>
<P>  Dividend Income	    17,959	       -0-</P>
<P>				----------	----------</P>
<P>		Total income	   307,477	   267,289</P>
<P>				----------	----------</P>
<P>Expenses:</P>
<P>  Interest on mortgage	    87,673	    66,052</P>
<P>  Supervisory services, to a</P>
<P>    related party (Note C) 	    15,000	    15,000</P>
<P>  Amortization of mortgage</P>
<P>    refinancing costs	    34,114	     1,957</P>
<P>				----------	----------</P>
<P>		Total expenses	   136,787	    83,009</P>
<P>				----------	----------</P>
<P>Net Income		$  170,690	$  184,280</P>
<P>				==========	==========</P>
<P>Earnings per $5,000 participation </P>
<P>  unit, based on 720 participation </P>
<P>  units outstanding during the year	$   237.07	$   255.94</P>
<P>				==========	==========</P>

<P>  Distributions per $5,000 participation:</P>

<P>Distributions per $5,000 </P>
<P>  participation consisted of </P>
<P>  the following:</P>
<P>   Income			$   237.07	$   250.00</P>
<P>   Return of Capital	     12.93	       -0-</P>
<P>				----------	----------</P>
<P>		Total distributions	$   250.00	$   250.00</P>
<P>				==========	==========</P>

<P>At March 31, 2000 and 1999, there were $3,600,000 of participations outstanding.</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">250 West 57th St. Associates</P>
<P ALIGN="CENTER">Condensed Balance Sheet</P>
<P ALIGN="CENTER">(Unaudited)</P>

<P>Assets					March 31, 2000	December 31, 1999</P>
<P>Current assets:</P>
<P>  Cash					$   93,865	$    92,274</P>
<P>  Fidelity U.S. Treasury</P>
<P>    Income Portfolio		 1,261,626	  1,381,731</P>
<P>  Additional Rent due from </P>
<P>    Fisk Building Associates	       -0-	     11,835</P>
<P>					----------	-----------</P>
<P>  Total current assets		 1,355,491	  1,485,840</P>
<P>					----------	-----------</P>
<P>Real estate, at cost:</P>
<P>  Property situated at 250-264 West </P>
<P>   57th Street, New York, New York:</P>
<P>   Land:				 2,117,435	  2,117,435</P>
<P>   Building:				 4,940,682	  4,940,682</P>
<P>    Less: Accumulated depreciation	 4,940,682	  4,940,682</P>
<P>					----------	-----------</P>
<P>					       -0-	        -0-</P>

<P>   Building improvements:	   688,000	    688,000</P>
<P>    Less: Accumulated depreciation	   688,000	    688,000</P>
<P>					----------	-----------</P>
<P>					       -0-	        -0-</P>
<P>   Tenants' installations and</P>
<P>    improvements			   249,791	    249,791</P>
<P>    Less: Accumulated amortization	   249,791	    249,791</P>
<P>					----------	-----------</P>
<P>					       -0-	        -0-</P>
<P>Building Improvements, construction </P>
<P>   in progress			   334,068	    244,960</P>

<P>Other assets:</P>
<P>   Mortgage refinancing costs	   130,608	    130,508</P>
<P>    Less: Accumulated amortization	   107,647	     73,533</P>
<P>					----------	-----------</P>
<P>					    22,961	     56,975</P>
<P>					----------	-----------</P>
<P>	Total assets		$3,829,955	$ 3,905,210</P>
<P>					==========	===========</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">250 West 57th St. Associates</P>
<P ALIGN="CENTER">Condensed Balance Sheet</P>
<P ALIGN="CENTER">(Unaudited)</P>

<P>(CONTINUED)</P>

<P>Liabilities and Capital (deficit)</P>
<P>Current liabilities:</P>
<P>   Accrued interest payable	$   29,432	$    30,214</P>
<P>   Due to Fisk Building Associates,</P>
<P>    a related party		   186,594	    244,960</P>
<P>   Accrued Expenses		     2,109	      2,109</P>
<P>   First mortgage principal payments</P>
<P>    due within one year (Note B)	$2,782,374	$ 4,289,171</P>
<P>   Second Mortgage		 1,500,000	        -0-</P>
<P>					----------	-----------</P>
<P>	Total current liabilities	 4,500,509	  4,566,454</P>

<P>Capital (deficit) (See analysis, page 4):</P>
<P>   March 31, 2000			  (670,554)	        -0-</P>
<P>   December 31, 1999		       -0-	   (661,244)</P>
<P>					----------	-----------</P>
<P>	Total liabilities and </P>
<P>   	  capital (deficit):</P>
<P>   March 31, 2000			 3,829,955</P>
<P>   December 31, 1999		==========	  3,905,210</P>
<P>						===========</P>

<P ALIGN="CENTER">250 West 57th St. Associates</P>
<P ALIGN="CENTER">Analysis of Capital (Deficit)</P>
<P ALIGN="CENTER">(Unaudited)</P>

<P> </P>
<P> </P>
<P>						March 31, 2000		December 31, 1999</P>
<P>Capital (deficit):</P>
<P>  January 1, 2000			$ (661,244)	</P>
<P>  January 1, 1999					   (624,219)</P>
<P>    Add, Net income:</P>
<P>	January 1, 2000 through</P>
<P>	  March 31, 2000		   170,690		        -0-</P>
<P>	January 1, 1999 through</P>
<P>	  December 31, 1999		       -0-	  2,719,635</P>
<P>						----------	-----------</P>
<P>						  (490,554)	  2,095,416</P>

<P>Less Distributions:</P>
<P>  Distribution, November 30, 1999</P>
<P>   of Secondary Overage Rent for </P>
<P>   the lease year ended </P>
<P>   September 30, 1999		       -0-	  2,036,660</P>
<P>  Distributions January 1, 2000</P>
<P>   through March 31, 2000	   180,000	        -0-</P>
<P>  Distributions January 1, 1999</P>
<P>   through December 31, 1999	       -0-	    720,000</P>
<P>						----------	-----------</P>
<P>						   180,000	  2,756,660</P>
<P>						----------	-----------</P>

<P>Capital (deficit):</P>
<P>  March 31, 2000			  (670,554)	</P>
<P>  December 31, 1999			==========	$  (661,244)</P>
<P>							===========</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">250 West 57th St. Associates</P>
<P ALIGN="CENTER">Condensed Statement of Cash Flows</P>

<P>		January 1, 2000	  January 1, 1999</P>
<P>	    through	      through</P>
<P>	March 31, 2000	   March 31, 1999</P>
<P>Cash flows from operating activities:</P>
<P>   Net income			$  170,690	$  184,280</P>
<P>   Adjustments to reconcile net income </P>
<P>     to cash provided by operating </P>
<P>     activities:</P>
<P>   Amortization of mortgage refinancing </P>
<P>     costs				    34,114	     1,957</P>
<P>   Change in accrued interest payable 	      (782)	       (48)</P>
<P>   Decrease in rent receivable 	    11,835		  -0-</P>
<P>   Increase in mortgage refinancing</P>
<P>     Costs				      (100)		  -0-</P>
<P>   Due to Fisk Building Associates	   (58,366)		  -0-</P>
<P>					----------	----------</P>
<P>	Net cash provided by operating</P>
<P>	  activities		   157,391	   186,189</P>
<P>					----------	----------</P>
<P>Cash flows from investing activities:</P>
<P>   Improvements in progress	   (89,108)	       -0-</P>
<P>					----------	----------</P>
<P>	Net cash used in investing</P>
<P>	  activities		   (89,108)	       -0-</P>
<P>					----------	----------</P>

<P>Cash flows from financing activities:</P>
<P>   Cash distributions		  (180,000)	  (180,000)</P>
<P>   Principal payments on long-term debt	    (6,797)	    (6,189)</P>
<P>					----------	----------</P>
<P>	Net cash used in financing </P>
<P>	  activities 		  (186,797)	  (186,189)</P>
<P>					----------	----------</P>
<P>	Net decrease in cash	  (118,514)		  -0-</P>

<P>Cash and Cash Equivalents, </P>
<P>   beginning of period		 1,474,005	    84,124</P>
<P>					----------	----------</P>
<P>Cash and Cash Equivalents, </P>
<P>   end of period			$1,355,491	$   84,124</P>
<P>					==========	==========</P>

<P>January 1, 2000	January 1, 1999</P>
<P>					through	through</P>
<P>					March 31, 2000	March 31, 1999</P>
<P>Cash paid for:</P>
<P>Interest				$   88,455	$   66,100</P>
<P>					============	==========</P>

<P> </P>
<P>NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)</P>

<P>Note A Organization and basis of Presentation</P>

<P>		In the opinion of management, the accompanying unaudited condensed financial statements reflect all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position of Registrant as of March 31, 2000, its
results of operations and cash flows for the three months ended March 31, 2000 and 1999 and its changes in Partners' capital for the three months ended March 31, 2000.  Information included in the condensed balance sheet as of December 31, 1999 has been
derived from the audited balance sheet included in Registrant's, Form 10-K for the year ended December 31, 1999 (the "10-K") previously filed with the Securities and Exchange Commission (the "SEC").  Pursuant to rules and regulations of the SEC, certain
information and disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted from these financial statements unless significant changes have taken place since the
end of the most recent fiscal year.  Accordingly, these unaudited condensed financial statements should be read in conjunction with the financial statements, notes to financial statements and the other information in the 10-K.  The results of operations
for the three months ended March 31, 2000 are not necessarily indicative of the results to be expected for the full year.</P>

<P> </P><DIR>

<P>Note B Interim Period Reporting</P>
<P>		</P></DIR>

<P>		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 (collectively, the "Property").  Registrant's joint venturers are Peter L. Malkin and Anthony E. Malkin (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").</P>

<P>		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
Trusts created by Peter L. Malkin for family members are beneficial owners of an interest in the Net Lessee.  In addition, one of the Joint Venturers is also a member of Wien & Malkin LLP, 60 East 42nd Street, New York, New York, which provides
supervisory and other services to Registrant and Net Lessee ("Supervisor").  See Note C of this Item 1 ("Note C").  </P>

<P>		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").</P>

<P>		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 original cash investment.</P>

<P>		For the lease year ended September 30, 1999, Net Lessee reported net operating profit of $5,277,912 after deduction of Basic Rent.  Net Lessee paid Primary Overage Rent of $752,000, together with Secondary Overage Rent of $2,262,956 for the
fiscal year ended September 30, 1999.  The Secondary Overage Rent of $2,262,956 represents 50% of the excess of the net operating profit of $5,277,912 over $752,000.  After deducting $226,296 to Supervisor as an additional payment for supervisory
services, the balance of $2,036,660 was distributed to the Participants on November 30, 1999.</P>

<P>		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.  </P>

<P>		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.  </P>

<P>		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 ("Apple Bank") was refinanced (the "Refinancing").  The material terms of the refinanced mortgage loan (the
"Mortgage Loan") are as follows:</P>
<DIR>
<DIR>
<DIR>
<DIR>

<P>	(i) a maturity date of June 1, 2000 that on April 19,2000 was extended to December 1, 2000;</P>

<P>	(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;  </P>

<P>	(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</P>

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

<P>		Effective September 22,1999, a second nonrecourse mortgage loan, also held by Apple Bank for Savings in the amount of $1,500,000 was placed on the Property.  The terms are interest only at the thirty day LIBOR rate with a maturity date of June
1, 2000.  On April 19, 2000, this mortgage was also extended to December 1, 2000.</P>

<P>Note C - Supervisory Services</P>

<P>		Registrant pays Supervisor for special legal services at hourly rates and supervisory services and disbursements.  The supervisory fees are $40,000 per annum (the "Basic Payment"); plus 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 March 31, 2000, 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.</P>

<P> 		No remuneration was paid during the three month period ended March 31, 2000 by Registrant to either of the Joint Venturers as such.  Pursuant to the fee arrangements described herein, Registrant also paid Supervisor $10,000 of the Basic
Payment and $5,000 on account of the Additional Payment for the three month period ended March 31, 2000.</P>

<P>		The supervisory services provided to Registrant by Supervisor include real estate supervisory, legal, administrative and financial services.  The services include, but are not limited to providing or coordinating with 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 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 Net Lessee and financial
statements audited by and tax information prepared by Registrant's independent certified public accountant, and distribution of such materials to the Participants.  Supervisor also prepares quarterly, annual and other periodic filings with the Securities
and Exchange Commission and applicable state authorities.  </P>

<P>		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, one of the Joint Venturers, by reason of his respective partnership interest in Supervisor, is entitled to receive his share of any legal fees or other remuneration paid to Supervisor for legal services rendered to Registrant and Net
Lessee.</P>

<P>		As of March 31, 2000, certain of the Joint Venturers in Registrant held additional Participations as follows:</P>
<DIR>
<DIR>
<DIR>
<DIR>

<P>Anthony E. Malkin owned of record as trustee, but not beneficially, $8,333 of Participations. Anthony E. Malkin disclaims any beneficial ownership of such Participations.</P>

<P>Trusts for the benefit of members of Peter L. Malkin's family owned of record and beneficially $88,333 of Participations. Mr. Malkin disclaims any beneficial ownership of such Participations, except that such Trusts are required to complete scheduled
payments to Mr. Malkin.</P>

<P>Item 2. Management's Discussion and Analysis of</P>
<P>Financial Condition and Results of Operations.</P>
</DIR>
</DIR>
</DIR>
</DIR>

<P>		Registrant was organized solely for the purpose 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 then to distribute the balance of such Basic Rent to holders of Participations.  See Note C.  Pursuant to the Net Lease, Net Lessee has assumed sole responsibility 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.</P>

<P>		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.  </P>

<P>		Registrant does not pay dividends.  During the three month period ended March 31, 2000, 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,
1999, Registrant made an additional distribution of $2,829 for each $5,000 participation.  Such distribution represented the balance of Secondary Overage Rent paid by Net Lessee in accordance with the terms of the Net Lease after deducting the Additional
Payment to Supervisor.  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.</P>

<P>		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:</P>
<DIR>
<DIR>
<DIR>
<DIR>

<P>Total income increased for the three month period ended March 31, 2000, as compared with the three month period ended March 31, 1999.  Such increase was the result of an increase in basic rent received from the Net Lessee for the three month period
ended March 31, 2000 as compared with the three month period ended March 31, 1999 and dividend income earned on funds temporarily invested.</P>

<P>Total expenses increased for the three month period ended March 31, 2000, as compared to the three month period ended March 31, 1999.  Such increase was the result of an increase in interest on the mortgages and increased amortization of the mortgage
refinancing costs for the three month period ended March 31, 2000.</P>
</DIR>
</DIR>
</DIR>
</DIR>

<P ALIGN="CENTER">Liquidity and Capital Resources</P>

<P>		There has been no significant change in Registrant's liquidity for the three month period ended March 31, 2000, as compared with the three month period ended March 31, 1999.</P>

<P>		The amortization payments due under the Mortgage Loan (see Note B of Item 1 hereof) will not be sufficient to fully liquidate the outstanding principal balances thereof at maturity in 2000.  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.</P>

<P>		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. </P>

<P ALIGN="CENTER">Inflation</P>

<P>		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, 1999, which report and all exhibits thereto are incorporated
herein by reference and made a part hereof.</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">PART II.  OTHER INFORMATION</P>

<P>Item 1.  Legal Proceedings.</P>

<P>		The Property of Registrant is the subject of the following pending litigation:</P>

<P>		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, against Helmsley-Spear, Inc. and Leona Helmsley
concerning various partnerships which own, lease or operate buildings managed by Helmsley-Spear, Inc., including Registrant's property.  In their complaint, plaintiffs sought the removal of Helmsley-Spear, Inc. as managing and leasing agent for all of the
buildings.  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 claims proceed to arbitration.  As a result, Mr.
Malkin and Wien & Malkin LLP filed an arbitration complaint against Helmsley-Spear, Inc. and Mrs. Helmsley before the American Arbitration Association.  Helmsley-Spear, Inc. and Mrs. Helmsley served answers denying liability and asserting various
affirmative defenses and counterclaims; and Mr. Malkin and Wien & Malkin LLP filed a reply denying the counterclaims.  By agreement dated December 16, 1997, Mr. Malkin and Wien & Malkin LLP (each for their own account and not in any representative
capacity) reached a settlement with Mrs. Helmsley of the claims and counterclaims in the arbitration and litigation between them.  Mr. Malkin and Wien & Malkin LLP are continuing their prosecution of claims in the arbitration for relief against
Helmsley-Spear, Inc., including its termination as the leasing and managing agent for various entities and properties, including the Registrant's Lessee.</P>

<P>Item 6. Exhibits and Reports on Form 8-K.</P>

<P>	(a) The exhibits hereto are being incorporated by reference.  </P>

<P>	(b) Registrant has not filed any report on Form 8-K during the quarter for which this report is being filed.</P>

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<P ALIGN="CENTER">SIGNATURES</P>

<P>		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.</P>

<P>		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 Powers of Attorney, dated March 29, 1996 and May 14, 1998 (collectively, the "Power").</P>

<P> </P>
<P>250 WEST 57TH ST. ASSOCIATES</P>
<P>(Registrant)</P>

<P> </P>
<P> </P>
<P>By /s/ Stanley Katzman</P>
<P>   Stanley Katzman, Attorney-in-Fact*</P>

<P> </P>
<P>Date: May 23, 2000</P>

<P> </P>
<P>  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 on the date indicated.
</P>

<P> </P>
<P>By /s/ Stanley Katzman</P>
<P>   Stanley Katzman, Attorney-in-Fact*</P>

<P> </P>
<P>Date: May 23, 2000</P>

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<P> </P><DIR>
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<P>_______________________________</P>
<P>* Mr. Katzman supervises accounting functions for Registrant.</P>
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<P ALIGN="CENTER">EXHIBIT INDEX</P>

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<P> </P><DIR>

<P>Number				   Document   				Page*</P>
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<P>3(a)			Registrant's Joint Venture Agreement, dated May 25, 1953, which was filed as Exhibit No. 3(a) to Registrant's Registration Statement on Form S-1 (the "Registration Statement"), is incorporated by reference as an exhibit hereto.</P>

<P> </P>
<P>3(b)			Amended Business Certificate of Registrant filed with the Clerk of New York County on July 24, 1998, reflecting a change in the Partners of Registrant effective as of April 15, 1998, which was filed as Exhibit 3(b) to Registrant's
10-Q-A for the quarter ended September 30, 1998 and is incorporated by reference as an exhibit hereto.</P>

<P> </P>
<P>24			Powers of Attorney dated March 29, 1996 and May 14, 1998 between Partners in Registrant and Stanley Katzman and Richard A. Shapiro, which was filed as Exhibit 24 to Registrant's 10-Q for the quarter ended March 31, 1998 and is
incorporated by reference as an exhibit hereto. </P>

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<P>_______________________________</P><DIR>
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<P>* Page references are based on sequential numbering system.</P>
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