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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q


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

                  For the quarterly period ended June 30, 1997

                         Commission file number: 0-25780

                             PRESIDIO CAPITAL CORP.

             (Exact name of registrant as specified in its charter)

      British Virgin Islands                                 N/A
(State or other jurisdiction of                       (I.R.S. Employer
 incorporation or organization)                      Identification No.)

c/o Hemisphere Management (Cayman) Limited
Zephyr House, Mary Street, Grand Cayman,
Cayman Islands, British West Indies                           N/A
(Address of principal executive offices)                  (Zip Code)


Registrant's telephone number, including area code: (441) 295-9166

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

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  and 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    [   ]

As of August 2, 1997, there were 8,797,255 Class A Common Shares, U.S. $0.01 per
share, par value, outstanding.
<PAGE>
                     PRESIDIO CAPITAL CORP. AND SUBSIDIARIES

                                TABLE OF CONTENTS



PART I - FINANCIAL INFORMATION                           

Item 1.  Financial Statements

         Consolidated  Statements  of Net Assets in  Liquidation  as of June 30,
            1997 (unaudited) and December 31, 1996 (audited) 

         Unaudited   Consolidated   Statements  of  Changes  in  Net  Assets  in
            Liquidation  for the Three and Six Month Periods Ended June 30, 1997
            and 1996

         Notes to Consolidated Financial Statements

Item 2.  Management's Discussion and Analysis of Financial Condition  
                  and Liquidation Activities 

Part II  - OTHER INFORMATION

Item 1.  Legal Proceedings  

Item 6.  Exhibits and Reports on Form 8-K   


SIGNATURES
<PAGE>
<TABLE>
<CAPTION>
                     PRESIDIO CAPITAL CORP. AND SUBSIDIARIES

              CONSOLIDATED STATEMENTS OF NET ASSETS IN LIQUIDATION

                (Expressed in thousands of United States dollars)

                                                           June 30,   December 31,
                                                            1997          1996
                                                          --------      --------
                                                         (unaudited)    (audited)
<S>                                                       <C>           <C>
Assets:

Cash and cash equivalents (including restricted
    cash of $41,372 and $20,527 at June 30, 1997
    and December 31, 1996 ..........................      $105,308      $ 78,639

Investments ........................................        24,328        29,993

Contract rights ....................................         1,514        41,083

Notes and other receivables ........................        16,465        22,467

Loans to affiliates ................................        42,632        38,532

Other assets .......................................         1,126         1,814
                                                          --------      --------


Total assets .......................................      $191,373      $212,528
                                                          ========      ========

Liabilities:


Debt ...............................................      $    900      $    900

Estimated costs of liquidation .....................        21,338        29,434

Estimated tax liability ............................         2,162         5,970
                                                          --------      --------


Total liabilities ..................................        24,400        36,304
                                                          --------      --------


Net Assets in Liquidation ...........................     $166,973      $176,224
                                                          ========      ========


                 See notes to consolidated financial statements 
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                          PRESIDIO CAPITAL CORP. AND SUBSIDIARIES

         UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS IN LIQUIDATION

                     (Expressed in thousands of United States dollars)



                                       Three Months Ended               Six Months Ended
                                             June 30,                      June 30,
                                     ------------------------     -------------------------
                                        1997         1996             1997          1996
<S>                                  <C>           <C>            <C>            <C>
Net Assets in Liquidation,
    beginning of period ........     $ 163,139     $ 335,132      $ 176,224      $ 385,228


    Dividends declared .........          --        (140,191)       (16,523)      (192,763)


    Accretions of loans to
       affiliates ..............         2,007         1,969          4,013          2,078


    Increase from revaluation of
       assets and liabilities ..           584         9,650            964         10,999


    Interest income ............         1,243         2,427          2,295          3,445
                                     ---------     ---------      ---------      ---------


Net Assets in Liquidation,
    end of period ..............     $ 166,973     $ 208,987      $ 166,973      $ 208,987
                                     =========     =========      =========      =========


                       See notes to consolidated financial statements 
</TABLE>
<PAGE>
                     PRESIDIO CAPITAL CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                     (All amounts in United States Dollars)

NOTE 1 - ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

Presidio Capital Corp. ("Presidio" and, collectively with its subsidiaries,  the
"Company") was organized on August 29, 1994, in the British Virgin Islands under
the International  Business  Companies Act (Cap. 291), to purchase,  directly or
through  its  subsidiaries,  substantially  all  of  the  assets  of  Integrated
Resources,  Inc.  ("Integrated") for the purpose of liquidation and distribution
of capital to shareholders.  The Company was formed in accordance with the Sixth
Amended  Plan  of  Reorganization   Submitted  by  the  Official   Committee  of
Subordinated Bondholders and the Steinhardt Group, (the "Plan") confirmed by the
United  States  Bankruptcy  Court  for the  Southern  District  of New York (the
"Bankruptcy  Court")  by order  dated  August 8, 1994.  The Plan was  officially
consummated on November 3, 1994 (the "Consummation Date").

The Plan gave  creditors of  Integrated  the right to receive 88% of  Presidio's
Class A shares in lieu of all or part of their cash  distribution  as defined in
the Plan. The remaining 12% of stock was issued to and purchased by IR Partners,
a general partnership among Steinhardt  Management Company Inc.,  ("Steinhardt")
certain of its affiliates and an affiliate of Charles E. Davidson, the principal
of Presidio Management Company, LLC ("Presidio  Management") and Chairman of the
Board of the  Company  and Joseph M.  Jacobs,  the Chief  Executive  Officer and
President of the Company, for approximately $35.8 million, under the terms of an
Asset Purchase Agreement.

Reference is made to the notes to the consolidated  financial statements for the
year ended  December 31, 1996,  included in the Company's  Annual Report on Form
10-K  (the  "Form  10-K")  for  information  with  regard  to the  organization,
significant  accounting  policies and disclosures made pursuant to the rules and
regulations of the Securities and Exchange Commission.

The interim financial data is unaudited;  however, in the opinion of management,
the  Company's  interim  financial  data for the six month period ended June 30,
1997  includes all  adjustments  (consisting  of normal  recurring  adjustments)
necessary  for fair  presentation  of the results of the interim  period.  These
consolidated  interim  financial  statements and notes thereto should be read in
conjunction with the consolidated financial statements and notes to consolidated
financial statements included in the Form 10-K.

Liquidation Basis

The Company's  financial  statements are prepared under the liquidation basis of
accounting.  The liquidation basis of accounting is appropriate when liquidation
is imminent and the Company is no longer viewed as a going  concern.  Under this
method of accounting, assets are stated at their estimated net realizable values
and  liabilities  are  stated  at  their  anticipated  settlement  amounts.  The
valuations presented in these financial statements are presented in U.S. dollars
under U.S. Generally Accepted Accounting Principles.

The valuation of assets and liabilities  require many estimates and assumptions.
The actual  value of any  liquidating  distributions  depends  upon a variety of
factors  including,  among  others,  the  actual  market  prices  of any  assets
distributed in kind,  the proceeds from the sale of any of the Company's  assets
and the actual timing of distributions.
<PAGE>
The  valuations  presented  in the  accompanying  Statements  of Net  Assets  in
Liquidation  represent  management's  current  estimates,  based  on  facts  and
circumstances,  of the  estimated net  realizable  value of assets and estimated
costs of  implementing  the Plan.  The net values  ultimately  realized could be
higher or lower than the amounts recorded.

NOTE 2 - INVESTMENTS, NOTES AND OTHER RECEIVABLES

During the  quarter  ended June 30,  1997,  the Company  purchased  units in and
provided loans to certain real estate limited partnerships, wherein subsidiaries
of the Company are the General Partners,  for an aggregate cost of approximately
$0.7 million.  Through June 30, 1997, the total investments in and loans to real
estate  limited  partnerships  aggregated   approximately  $4.8  million.  These
investments were intended to be consistent with, and incidental to the Company's
liquidation  strategy,  as these investments will protect and enhance the values
of the respective general partnership positions.

NOTE 3 - CONTRACT RIGHTS

As of December 31, 1996,  there were four Contract Rights  remaining,  which the
Company  estimated had an approximate net realizable value of $41.1 million.  On
March 12, 1997, a  Partnership  exercised  its option and prepaid  approximately
$40.0 million to the Company,  which represented the remaining balance due under
such Contract Right obligation.

NOTE 4 - DIVIDENDS

On March 19, 1997, the Board of Directors of Presidio  declared a dividend which
was paid on April 3, 1997, of approximately  $16.5 million,  or $1.65 per share,
to  all  shareholders  of  record  as of  March  25,  1997.  Presidio  has  made
liquidating  distributions  since  consummation of the Plan of $364.3 million or
$36.38 per share.
<PAGE>
NOTE 5 - REVALUATION OF ASSETS AND LIABILITIES

The increase in Net Assets in Liquidation  resulting from  revaluation of assets
and liabilities for the three and six month periods ended June 30, 1997 and 1996
is as follows:
<TABLE>
<CAPTION>
                                                               (000's)
                                           Three Months Ended          Six Months Ended
                                             Ended June 30,              Ended June 30,
                                       -----------------------    ----------------------
                                           1997         1996          1997          1996
<S>                                    <C>           <C>          <C>           <C>
(Decrease) increase in estimated
    net realizable value of assets     $ (1,092)     $  2,247     $ (1,077)     $  2,247


Realized gains on liquidation
    and other ....................          754         3,409        1,119         4,758


Return of overpayments and
    bankruptcy settlements .......         --           3,994         --           3,994


Decrease in estimated tax
    liability ....................          922          --            922          --
                                       --------      --------     --------      --------

                                       $    584      $  9,650     $    964      $ 10,999
                                       ========      ========     ========      ========

</TABLE>

NOTE 6 - LITIGATION

Mark Erwin, Trustee, et. al. v. Resources High Equity,  Inc.,et. al. On or about
May 11, 1993 the HEP  Partnerships  (the "HEP  Partnerships",  a series of three
public partnerships which invested in unleveraged commercial real estate between
1985-1989),  were advised of the  existence  of an action (the "HEP  Action") in
which a complaint (the "HEP  Complaint") was filed in the Superior Court for the
State of  California  for the County of Los Angeles (the "Court") on behalf of a
purported  class  consisting  of all of the  purchasers  of limited  partnership
interests in the HEP Partnerships.

In January 1996, the parties to the HEP Action agreed upon a revised  settlement
(the "Revised  Settlement").  The principal  features of the Revised  Settlement
were the  surrender  by the  General  Partners  of  certain  fees  that they are
entitled to receive,  the reorganization of the HEP Partnerships into a publicly
traded real estate  investment trust ("REIT"),  and the issuance of stock in the
REIT  to the  limited  partners  (in  exchange  for  their  limited  partnership
interests) and General Partners (in exchange for their existing  interest in the
HEP  Partnerships  and future  income).  The  principal  benefits of the Revised
Settlement  for  the  limited  partners  of  the  HEP   Partnerships   were  (1)
substantially  increased distributions to limited partners, (2) market liquidity
through  a NASDAQ  listed  security,  and (3) the  opportunity  for  growth  and
diversification  that was not permitted under the Partnership  structure.  There
were also other significant tax, corporate  governance and other features of the
Revised Settlement.
<PAGE>
On July 18, 1996, the Court  preliminarily  approved the Revised  Settlement and
made a preliminary  finding that the Revised  Settlement was fair,  adequate and
reasonable to the class.  In August 1996, the Court approved the form and method
of  notice  regarding  the  Revised  Settlement  which  was sent to the  limited
partners.

Only approximately 2.5% of the limited partners of the HEP Partnerships  elected
to "opt out" of the Revised Settlement.  Despite this,  following the submission
of  additional  materials,  the  Court  entered  an order on  January  14,  1997
rejecting  the  Revised  Settlement  and  concluded  that  there had not been an
adequate  showing that the settlement was fair and reasonable.  Thereafter,  the
plaintiffs  filed a motion  seeking  to have the  Court  reconsider  its  order.
Subsequently,  the  defendants,  including  the  Company  withdrew  the  Revised
Settlement  and at a  hearing  on  February  24,  1997,  the  Court  denied  the
plaintiffs'  motion.  Also, at the February 24, 1997 hearing,  the Court recused
itself from  considering  a motion to intervene  and to file a new  complaint in
intervention by one of the objectors to the Revised Settlement,  and granted the
request of one  plaintiffs'  law firm to withdraw as class counsel and scheduled
future hearings on various matters.

The HEP  Partnerships  and the General  Partners believe that each of the claims
asserted in the  Consolidated  Complaint are meritless and intend to continue to
vigorously defend the HEP Action.

Presidio v. Koll Management Services,  Inc., Liquidity Financial Group, L.P. and
Liquidity Financial  Corporation.  On November 9, 1995, Presidio and the General
Partners  of the HEP  Partnerships,  commenced  an action in the  United  States
Bankruptcy Court for the Southern District of New York,  against Koll Management
Services,  Inc.  ("Koll"),  Liquidity  Financial  Group,  L.P. and the Liquidity
Financial  Corporation  (collectively,  "Liquidity").  The  plaintiffs  sought a
preliminary   and   permanent   injunction   to   prevent   violations   of  the
Confidentiality  and  Standstill  Agreement  (the  "Agreement")  which  had been
entered  into  between  Koll  and   Integrated   in  1994  during   Integrated's
reorganization  proceeding  and damages in an amount to be proven at trial.  The
complaint alleged that Liquidity, which had become an affiliate of Koll and was,
for that reason,  bound by the Agreement,  was violating the Agreement by, among
other things, objecting to a settlement involving the HEP Partnerships which was
an integral part of the Integrated  Plan of  Reorganization,  and that Liquidity
was  otherwise   interfering  with  the  management  and  policies  of  the  HEP
Partnerships.

On November 21, 1995,  after a contested  hearing,  the Bankruptcy Court granted
plaintiffs' motion for a preliminary injunction.  The preliminary injunction has
been  extended  periodically  since its entry.  The  defendants  have denied the
material  allegations  of the  complaint,  and asserted  various  defenses.  The
parties are actively  engaged in  discovery.  On March 7, 1997,  the  defendants
filed a motion  seeking to dissolve  the  preliminary  injunction.  On April 11,
1997, the Bankruptcy Court denied the motion.
<PAGE>
ITEM  2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  CONDITION  AND
          LIQUIDATION ACTIVITIES

The following section includes a discussion and analysis of financial  condition
and  liquidation  activities  of the Company for the three and six month periods
ended June 30, 1997.

Liquidity and Capital Resources

The  Company's  primary  objectives  are to liquidate its assets in the shortest
time period  possible  while  realizing  the maximum  values for such assets and
reduction of operating costs. Although the Company considers its assumptions and
estimates as to the values and timing of such liquidations to be reasonable, the
period of time to  liquidate  the assets and  distribute  the  proceeds  of such
assets  is  subject  to   significant   business,   economic   and   competitive
uncertainties and contingencies, many of which are beyond the Company's control.

Cash  available for  distributions,  defined as cash and cash  equivalents  less
restricted cash,  decreased by approximately $34.6 million for the quarter ended
June 30,  1997,  primarily  due to the  dividend  paid on April 3, 1997 of $16.5
million, and an increase in restricted cash of $20.0 million which is being held
at  one  of  Presidio's  foreign   subsidiaries  in  order  to  satisfy  certain
requirements  pursuant  to  Indemnification   Agreements  (the  "Indemnification
Agreements")  with certain  former  officers and directors of Integrated and its
subsidiaries ("Qualified Indemnity").

Restricted  cash at  June  30,  1997  was  approximately  $41.4  million  and is
primarily  comprised  of (i)  $20  million  held  at one of  Presidio's  foreign
subsidiaries,  as described above, and (ii) approximately  $19.6 million held in
escrow  accounts  as  security  for  the  Indemnification   Agreements  and  for
Presidio's Class A Directors (see A) and B) below).

A)       The Qualified Indemnity is collateralized by cash and all the stock and
         partnership interests in the Company's non-U.S.  subsidiaries under the
         Indemnification  Agreements.  All distributions made by the Company are
         limited by a  requirement  that the Company  have  certain  minimum net
         assets  after  distribution  to  discharge  any  pending  and  expected
         Qualified Indemnity obligations. The balance in the Qualified Indemnity
         escrow account at June 30, 1997 was $11.3 million.

         Presidio's  ability  to  make  distributions  to  stockholders  remains
         limited in accordance with the terms of the indemnification obligations
         of the former officers and directors of Integrated and its subsidiaries
         under  the  Indemnification  Agreements.  Presidio  has  no  basis  for
         believing  that  any  of  those  indemnification  obligations  will  be
         material and, to date, no claim for such indemnification has been made.
         However,  pursuant  to the  terms  of the  Indemnification  Agreements,
         Presidio  is required to notify  beneficiaries  thereunder  of proposed
         dividends and certain other proposed  transfers of cash made by certain
         subsidiaries   of  Presidio  to  Presidio,   and  by  Presidio  to  its
         shareholders,  and to retain the value of certain collateral granted as
         security  for  such  indemnification  obligations.   Presidio  provided
         notices to the beneficiaries of the Indemnification Agreements prior to
         distribution  of all dividends paid and declared  during the six months
         ended June 30, 1997.
<PAGE>
B)       The Plan also provided for  indemnification of the Class A Directors of
         Presidio.  The  indemnification  amounts  are secured by a deposit in a
         trust  established  for  the  purpose  of  providing  security  for the
         Company's indemnity  obligations to the Class A Directors (the "Trust")
         made  on the  Consummation  Date.  Presidio  is also  required  to make
         quarterly escrow deposits equal to the greater of (i) $750,000, or (ii)
         1%  of  any  amounts  distributed  to  shareholders  of  Presidio,  for
         additional indemnification security. In accordance therewith,  Presidio
         deposited  $1,500,000  during the six months ended June 30,  1997.  The
         amounts  placed in the Trust may be released upon the  dissolution  and
         liquidation of the Company if certain  conditions  are  satisfied.  The
         balance in the Class A  Directors  escrow  account at June 30, 1997 was
         $8.3 million.

Presidio  believes  that cash on hand,  revenues  generated  from  interests  in
businesses  that  continue  to operate  and  proceeds  from the  disposition  of
businesses  and  other  assets  will be  sufficient  to  support  the  Company's
operations and meet its obligations.


Liquidation Activities

The Company's cash and cash equivalents decreased by $14.1 million for the three
month period and  increased by $26.7 million for the six month period ended June
30,  1997,  as compared  to a decrease of $153.4 and $19.0  million for the same
periods of the prior year.  Excess cash was made available for  distribution  to
shareholders on March 19, 1997, when the Board of Directors of Presidio declared
a dividend  payable on April 3, 1997, of approximately  $16.5 million,  or $1.65
per share, to all shareholders of record as of March 25, 1997. Presidio has made
liquidating  distributions  since  consummation of the Plan of $364.3 million or
$36.38 per share.

The components of the change in cash and cash equivalents, are as follows:
<TABLE>
<CAPTION>
                                                                          (Millions)
                                                                         (unaudited)
                                                         Three Months Ended        Six Month Ended
                                                              June 30,                June 30,
                                                         ------------------        ------------------
                                                         1997         1996         1997       1996
<S>                                                      <C>          <C>          <C>        <C>
Cash Inflows

Contract rights securitization proceeds, net ...         $ --         $ --         $ --       $205.1

Other liquidating activities ...................           2.7          4.7         43.2        13.5

Operating cash inflows .........................           4.7         17.4         10.9        20.1

Interest income ................................           1.2          2.4          2.3         3.4
                                                        ------       ------       ------      ------

     Total Cash Inflows ........................           8.6         24.5         56.4       242.1
                                                        ------       ------       ------      ------

</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                                                          (Millions)
                                                                         (unaudited)
                                                         Three Months Ended        Six Month Ended
                                                              June 30,                June 30,
                                                         ------------------        ------------------
                                                         1997         1996         1997       1996
<S>                                                      <C>          <C>          <C>        <C>

Cash Outflows

Dividends paid .................................          16.5        172.7         16.5       202.8

Loans to affiliates ............................           --           --           --         31.5

Legal and other - contract rights ..............           2.3          1.5          2.3        16.1

Legal, accounting and consulting fees ..........           1.6          1.4          3.3         3.3

General and administrative .....................           0.7          1.2          4.3         5.7

Bankruptcy claims paid .........................           0.3          0.5          0.9         0.5

Investments and loans to affiliated real

  estate partnerships ..........................           0.7          --           1.2         --

Management fees ................................           0.6          0.6          1.2         1.2
                                                        ------       ------       ------      ------

     Total Cash Outflows .......................          22.7        177.9         29.7       261.1
                                                        ------       ------       ------      ------

(Decrease) increase in cash and cash equivalents         (14.1)      (153.4)        26.7       (19.0)

Cash and cash equivalents, beginning of period .         119.4        255.0         78.6       120.6
                                                        ------       ------       ------      ------

Cash and cash equivalents, end of period .......        $105.3       $101.6       $105.3      $101.6
                                                        ======       ======       ======      ======
</TABLE>

Current Operations

Operating  cash  inflows  from  period to period are not  comparable  due to the
timing of liquidation activities, and the size of the remaining portfolio.

During the quarter ended June 30, 1997,  payments  were made in connection  with
the  resolution  of  certain  remaining   disputed   bankruptcy  claims  against
Integrated of $0.3 million. The payments were made in accordance with the Plan.

Miscellaneous general and administrative  expenditures  decreased in the quarter
ended June 30,  1997,  as  compared  to the same period of the prior year due to
timing of various  liquidating  activities,  and the  reduction  of the  overall
portfolio of assets.  During the quarter  ended June 30, 1997,  the Company paid
taxes of $2.3 million relating to the Contract Rights Securitization.
<PAGE>
During the  quarter  ended June 30,  1997,  the Company  purchased  units in and
provided loans to certain real estate limited partnerships, wherein subsidiaries
of the Company are the General Partners,  for an aggregate cost of approximately
$0.7 million.  Through June 30, 1997, the total investments in and loans to real
estate  limited  partnerships  aggregated   approximately  $4.8  million.  These
investments were intended to be consistent with, and incidental to the Company's
liquidation  strategy,  as these investments will protect and enhance the values
of the respective general partnership positions.

Recent Developments

On July 18,  1997,  Presidio  Holding  Company LLC ("PHC")  filed a Schedule 13D
indicating that it had acquired beneficial ownership of approximately 63% of the
outstanding Class A Common Shares (55% of the outstanding common stock). On July
25, 1997, PHC delivered a notice to Wexford  Management  LLC, the  administrator
for  Presidio,  stating  it was  seeking  to remove  the three  current  Class A
Directors and replacing them with Edward Scheetz,  David Hamamoto and David King
effective   September  2,  1997. 

There  exists  substantial  doubt as to the  effectiveness  of such notice under
applicable law. On August 15, 1997, the Company applied to the Judge of the High
Court  in  the  British  Virgin  Islands  for a  declaration  that  the  written
resolution of PHC,  dated July 25, 1997 was invalid and of no effect  insofar as
it purports to be a written resolution of the Class A Members of the Company.

The Class A Directors have advised the organizers of T-Two Holding,  LLC ("T-2")
that they are  unwilling  to  approve  the  rights  offering  of T-2  membership
interests at this time given the change in control of the Company to PHC.
<PAGE>
                     PRESIDIO CAPITAL CORP. AND SUBSIDIARIES

                           PART II - OTHER INFORMATION

Item 1.   Legal Proceedings

The  following  information  should be read in  conjunction  with Item 3. "Legal
Proceedings" of the Company's December 31, 1996 Form 10-K.

Mark Erwin,  Trustee,  et al v.  Resources  High Equity,  Inc.,  et al (the "HEP
Action")

Presidio v. Koll Management Services,  Inc., Liquidity Financial Group, L.P. and
Liquidity Financial Corporation.

Reference is made to Note 6 of the Consolidated  Financial Statements in Part I,
Item 1, Financial Statements.

Item 6.  Exhibits and Reports on Form 8-K

         (a)    Not applicable

         (b)    The  Company  was not  required  to file any reports on Form 8-K
                during the quarter ended June 30, 1997.
<PAGE>

                                   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.

                                      PRESIDIO CAPITAL CORP. (Registrant)

                                      By:  /s/Joseph M. Jacobs
                                           Joseph M. Jacobs
                                           Chief Executive Officer and President


                                      By:  /s/Jay L. Maymudes 
                                           ------------------
                                           Jay L. Maymudes
                                           Vice President, Treasurer and Chief
Date: August 18, 1997                      Financial Officer