<PAGE>

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

                                   FORM 10-QSB
(Mark One)

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

                  For the quarterly period ended June 30, 2001
                                                 -------------

                                       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 0-10272
                                                -------

            Winthrop Residential Associates I, A Limited Partnership
            --------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)
<TABLE>
<CAPTION>
<S>                                                                       <C>

                                   Maryland                                                 04-2720493
              ----------------------------------------------------         ---------------------------------------------
                        (State or other jurisdiction of                        (I.R.S. Employer Identification No.)
                           incorporation or organization)


                  7 Bulfinch Place, Suite 500, Boston, MA                                  02114-9507
            -----------------------------------------------------         ---------------------------------------------
                  (Address of principal executive office)                                  (Zip Code)

                        Registrant's telephone number, including area code     (617)-570-4600
                                                                           --------------------------------------

                        Five Cambridge Center, 9th Floor, Cambridge, MA 02142-1493
           ---------------------------------------------------------------------------------
          (Former name, former address and former fiscal year, if changed since last report)
</TABLE>

Indicate by check mark whether 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
                                      ---   ---








                                     1 of 12

<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                            FORM 10-QSB JUNE 30, 2001

                         PART 1 - FINANCIAL INFORMATION


ITEM 1. FINANCIAL STATEMENTS.

BALANCE SHEETS

(IN THOUSANDS, EXCEPT UNIT DATA)
<TABLE>
<CAPTION>
                                                                       JUNE 30, 2001         DECEMBER 31,
                                                                        (UNAUDITED)              2000
                                                                     ------------------   -------------------
<S>                                                               <C>                  <C>

Assets
------

Cash and cash equivalents                                            $             380    $              423
Note receivable and accrued interest                                               128                   124
Investment in Local Limited Partnership                                            224                   209
                                                                     ------------------   -------------------

      Total Assets                                                   $             732    $              756
                                                                    ==================   ====================
Liabilities and Partners' Capital
---------------------------------

Liabilities:

Accrued expenses                                                     $               6     $              10
Loan payable and accrued interest - affiliate                                      396                   384
                                                                     ------------------   -------------------

      Total Liabilities                                                            402                   394
                                                                     ------------------   -------------------

Partners' Capital:

Limited Partners -
      Units of Limited Partnership Interest, $1,000
      stated value per unit; 25,676 units authorized;
      25,595 units issued and outstanding                                        1,432                 1,462
General Partners' deficit                                                       (1,102)               (1,100)
                                                                     ------------------   -------------------

      Total Partners' Capital                                                      330                   362
                                                                     ------------------   -------------------

      Total Liabilities and Partners' Capital                        $             732     $             756
                                                                     ==================   ===================

</TABLE>



                                     See notes to financial statements.

                                                  2 of 12
<PAGE>


            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                            FORM 10-QSB JUNE 30, 2001

STATEMENTS OF INCOME (UNAUDITED)

(IN THOUSANDS, EXCEPT UNIT DATA)
<TABLE>
<CAPTION>

                                                       FOR THE THREE MONTHS ENDED       FOR THE SIX MONTHS ENDED
                                                        June 30,        June 30,         JUNE 30,        JUNE 30,
                                                          2001           2000              2001            2000
                                                      -------------- ---------------   --------------  --------------
<S>                                                <C>              <C>              <C>              <C>

Income:

     Income from Local Limited Partnership
       cash distributions                             $           -  $           68     $          -   $          68
     Equity in income of Local Limited
       Partnership                                               18              12               15              24
     Interest                                                     5               6               11              12
                                                      -------------- ---------------   --------------  --------------

        Total  income                                            23              86               26             104
                                                      -------------- ---------------   --------------  --------------

Expenses:

     Interest                                                     6               8               12              15
     General and administrative                                  26              34               46              56
                                                      -------------- ---------------   --------------  --------------

        Total expenses                                           32              42               58              71
                                                      -------------- ---------------   --------------  --------------

Net (loss) income                                     $          (9)  $          44     $        (32)  $          33
                                                      ============== ===============   ==============  ==============

Net (loss) income allocated to General Partners       $          (1)  $           2     $         (2)  $           2
                                                      ============== ===============   ==============  ==============

Net (loss) income allocated to Limited Partners       $          (8)  $          42     $        (30)  $          31
                                                      ============== ===============   ==============  ==============

Net (loss) income per Unit of Limited
   Partnership Interest                               $       (0.31) $         1.64     $      (1.17)  $        1.21
                                                      ============== ===============   ==============  ==============

</TABLE>



                     See notes to financial statements.

                                             3 of 12

<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                            FORM 10-QSB JUNE 30, 2001


STATEMENT OF PARTNERS' CAPITAL (UNAUDITED)

(IN THOUSANDS, EXCEPT UNIT DATA)

<TABLE>
<CAPTION>

                                                 UNITS OF
                                                  LIMITED          LIMITED         GENERAL          TOTAL
                                                PARTNERSHIP       PARTNERS'       PARTNERS'       PARTNERS'
                                                 INTEREST          CAPITAL         DEFICIT         CAPITAL
                                              ----------------  --------------   -------------  --------------
<S>                                         <C>               <C>              <C>             <C>

Balance - January 1, 2001                              25,595   $       1,462    $     (1,100)  $         362

     Net loss                                               -             (30)             (2)            (32)
                                              ----------------  --------------   -------------  --------------

Balance - June 30, 2001                                25,595   $       1,432    $     (1,102)  $         330
                                              ================  ==============   =============  ==============

</TABLE>






















                                     See notes to financial statements.

                                                   4 of 12

<PAGE>


            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                            FORM 10-QSB JUNE 30, 2001


STATEMENTS OF CASH FLOWS (UNAUDITED)

(IN THOUSANDS)

<TABLE>
<CAPTION>
                                                                            FOR THE SIX MONTHS ENDED
                                                                         JUNE 30,              JUNE 30,
                                                                           2001                  2000
                                                                     ------------------   -------------------
<S>                                                                <C>                  <C>
Cash Flows From Operating Activities:

Net (loss) income                                                    $             (32)   $               33
Adjustments to reconcile net (loss) income to net cash
  used in operating activities:
      Equity in income of Local Limited Partnership                                (15)                  (24)
      Income from Local Limited Partnership cash distributions                       -                   (68)

Changes in assets and liabilities:
      Increase in accrued interest receivable                                       (4)                   (4)
      Decrease in accrued expenses                                                  (4)                  (11)
      Increase in accrued interest payable                                          12                    14
                                                                     ------------------   -------------------

      Net cash used in operating activities                                        (43)                  (60)
                                                                     ------------------   -------------------

Cash Flows From Investing Activities:

Distributions received from Local Limited Partnership                                -                    68
                                                                     ------------------   -------------------

Net (decrease) increase in cash and cash equivalents                               (43)                    8

Cash and cash equivalents, beginning of period                                     423                   446
                                                                     ------------------   -------------------

Cash and cash equivalents, end of period                             $             380    $              454
                                                                     ==================   ===================

</TABLE>







                                     See notes to financial statements.

                                                  5 of 12








<PAGE>


            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                            FORM 10-QSB JUNE 30, 2001

                          NOTES TO FINANCIAL STATEMENTS



1.       GENERAL

         The accompanying financial statements, footnotes and discussions should
         be read in conjunction with the financial statements, related footnotes
         and discussions contained in the Partnership's Annual Report on Form
         10-KSB for the year ended December 31, 2000.

         The financial information contained herein is unaudited. In the opinion
         of management, all adjustments necessary for a fair presentation of
         such financial information have been included. All adjustments are of a
         normal recurring nature. The balance sheet at December 31, 2000 was
         derived from audited financial statements at such date.

         The  results  of  operations  for the six months  ended June 30,  2001
         and 2000 are not  necessarily  indicative  of the results to be
         expected for the full year.

























                                     6 of 12


<PAGE>


            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                            FORM 10-QSB JUNE 30, 2001

ITEM 2.      MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
             ---------------------------------------------------------

             The matters discussed in this Form 10-QSB contain certain
             forward-looking statements and involve risks and uncertainties
             (including changing market conditions, competitive and regulatory
             matters, etc.) detailed in the disclosure contained in this Form
             10-QSB and the other filings with the Securities and Exchange
             Commission made by the Partnership from time to time. The
             discussion of the Partnership's liquidity, capital resources and
             results of operations, including forward-looking statements
             pertaining to such matters, does not take into account the effects
             of any changes to the Partnership's operations. Accordingly, actual
             results could differ materially from those projected in the
             forward-looking statements as a result of a number of factors,
             including those identified herein.

             This Item should be read in conjunction with the financial
             statements and other items contained elsewhere in the report.

             Liquidity and Capital Resources
             -------------------------------

             As of June 30, 2001, the Partnership retained an equity interest in
             five Local Limited Partnerships, each of which owns one apartment
             complex. However, effective in July 2001, the Partnership's
             interest in the Cedar Lake Ltd. Local Limited Partnership was
             foreclosed upon. The properties are located throughout the United
             States.

             The level of liquidity based on cash and cash equivalents
             experienced a $43,000 decrease for the six months ended June 30,
             2001, as compared to December 31, 2000. At June 30, 2001, the
             Partnership had $380,000 in cash and cash equivalents which have
             been invested primarily in repurchase agreements and a money market
             account.

             The Partnership's primary source of income is distributions from
             the Local Limited Partnerships. The Partnership requires cash to
             pay general and administrative expenses and to make capital
             contributions to any of the Local Limited Partnerships which the
             Managing General Partner deems to be in the Partnership's best
             interest to preserve its ownership interest. To date, all cash
             requirements have been satisfied by interest income, cash
             distributed by the Local Limited Partnerships to the Partnership or
             by loans.

             The loan payable to an affiliate of the Managing General Partner
             which bears interest at prime plus 1% is repayable from cash flows
             generated by the Local Limited Partnerships and the proceeds of any
             sales of real estate owned by the Local Limited Partnerships. The
             outstanding principal balance and accrued interest on the loan was
             approximately $396,000 at June 30, 2001. The Partnership did not
             make cash distributions to its partners during the six months ended
             June 30, 2001 and 2000.

             The Partnership does not intend to make advances to fund future
             operating deficits incurred by any Local Limited Partnership, but
             retains its prerogative to exercise business judgment to reverse
             this position if circumstances change. Moreover, the Partnership is
             not obligated to provide any additional funds to the Local Limited
             Partnerships to fund operating deficits. If a Local Limited
             Partnership sustains continuing operating deficits and has no other
             sources of funding, it is likely that it will eventually default on
             its mortgage obligations and risk a foreclosure on its property by
             the lender. If a foreclosure were to occur, the Local Limited
             Partnership would lose its investment in the property and would
             incur a tax liability due to the recapture of tax benefits taken in
             prior years. The Partnership, as an owner of the Local Limited
             Partnership, would share these consequences in proportion to its
             ownership interest in the Local Limited Partnership.

                                     7 of 12


<PAGE>


            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                            FORM 10-QSB JUNE 30, 2001

ITEM 2.      MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
             OPERATION (CONTINUED)
             -----------------------------------------------

             The Cedar Lake Ltd. Local Limited Partnership, which owned the
             Albany Landing Apartments, was foreclosed upon by the Department of
             Housing and Urban Development in July 2001. For financial reporting
             purposes, the Partnership's investment in this Local Limited
             Partnership had previously been written down to zero. For tax
             reporting purposes, the Partnership will incur a tax liability due
             to the recapture of tax benefits taken in prior years in proportion
             to its ownership interest in the Local Limited Partnership. The
             amount of the recapture income is estimated to be approximately
             $100 per unit of Limited Partnership Interest.

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

             The Partnership's net loss was $32,000 for the six months ended
             June 30, 2001 as compared to net income of $33,000 for the six
             months ended June 30, 2000. This was a result of a decrease in
             income of $78,000 which was partially offset by a decrease in
             expenses of $13,000.

             Income for the six months ended June 30, 2001 decreased primarily
             because the Partnership did not receive any cash distributions from
             any Local Limited Partnerships. During the six months ended June
             30, 2000, the Partnership received $68,000 of cash distributions
             from a Local Limited Partnership. In addition, equity in income of
             a Local Limited Partnership decreased by $9,000 and interest income
             decreased by $1,000 for the six months ended June 30, 2001 as
             compared to the comparable period in 2000. Expenses decreased due
             to a decrease in interest expense of $3,000 and general and
             administrative expenses of $10,000.

              Recently Issued Accounting Standards
              ------------------------------------

              The Financial Accounting Standards Board ("FASB") issued Statement
              of Financial Accounting Standards "SFAS" No. 137, "Accounting for
              Derivative Instruments and Hedging Activities - Deferral of the
              Effective Date of SFAS No. 133." The Statement deferred for one
              year the effective date of SFAS No. 133, "Accounting for
              Derivative Instruments and Hedging Activities". The Statement
              requires companies to recognize all derivatives on the balance
              sheet as assets or liabilities, measured at fair value. Gains or
              losses resulting from changes in the values of those derivatives
              would be accounted for depending on the use of the derivative and
              whether they qualify for hedge accounting. This Statement was
              effective for fiscal years beginning after June 15, 2000. There
              was no effect from this Statement on the Partnership's financial
              statements.

              In July 2001, the FASB issued SFAS No. 141 "Business
              Combinations". SFAS No. 141 requires that all business
              combinations be accounted for under the purchase method of
              accounting. SFAS No. 141 also changes the criteria for the
              separate recognition of intangible assets acquired in a business
              combination. SFAS No. 141 is effective for all business
              combinations initiated after June 30, 2001. This statement will
              not affect the Partnership's financial statements.

              In July 2001, the FASB issued SFAS No. 142 "Goodwill and Other
              Intangible Assets". SFAS No. 142 addresses accounting and
              reporting for intangible assets acquired, except for those
              acquired in a business combination. SFAS No. 142 presumes that
              goodwill and certain intangible assets have indefinite useful
              lives. Accordingly, goodwill and certain intangibles will not be
              amortized but rather will be tested at least annually for
              impairment. SFAS No. 142 also addresses accounting and reporting
              for goodwill and other intangible assets subsequent to their
              acquisition. SFAS No. 142 is effective for fiscal years beginning
              after December 15, 2001. This statement will not affect the
              Partnership's financial statements.

                                     8 of 12
<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                            FORM 10-QSB JUNE 30, 2001

ITEM 2.      MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
             OPERATION (CONTINUED)
             -----------------------------------------------

             Quantitative and Qualitative Disclosures of Market Risk

             The Partnership does not have any financial instruments that would
             expose it to market risk associated with the risk of loss arising
             from adverse changes in market rates and prices except for the
             Partnership's loan payable to an affiliate which is subject to
             changes in the prime rate of interest.









                                     9 of 12


<PAGE>


            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                            FORM 10-QSB JUNE 30, 2001


PART II - OTHER INFORMATION


ITEM 6.    EXHIBITS AND REPORTS ON FORM 8-K.
           ---------------------------------

           (a)    Exhibits:

                  99.      Supplementary Information Required Pursuant to
                           Section 9.4 of the Partnership Agreement.

           (b) Reports on Form 8-K:

                  No reports on Form 8-K were filed during the period ended June
               30, 2001.
















                                    10 of 12

<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                            FORM 10-QSB JUNE 30, 2001


                                   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.





                                     WINTHROP RESIDENTIAL ASSOCIATES I,
                                     A LIMITED PARTNERSHIP

                                     BY:    ONE WINTHROP PROPERTIES, INC.
                                            Managing General Partner




                                            BY:    /s/ Michael L. Ashner
                                                 -------------------------
                                                   Michael L. Ashner
                                                   Chief Executive Officer



                                            BY:    /s/ Thomas C. Staples
                                                 --------------------------
                                                   Thomas C. Staples
                                                   Chief Financial Officer

                                                   Dated:  August 10, 2001









                                    11 of 12