<PAGE>

                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                  FORM 10-QSB
                                  -----------
(Mark
 One)

 [X]              QUARTERLY REPORT UNDER SECTION 13 OR 15 (D)
                    OF THE SECURITIES EXCHANGE ACT OF 1934

               FOR THE NINE MONTH PERIOD ENDED SEPTEMBER 30, 1999

 [ ]              TRANSITION REPORT UNDER SECTION 13 OR 15 (D)
                              OF THE EXCHANGE ACT

     For the period of transition from _______________ to _______________
                          Commission File No. 0-1322

                          KNICKERBOCKER VILLAGE, INC.
                          ---------------------------
             (Exact name of registrant as specified in its Charter)


           NEW YORK                                     13-0924285
           --------                                     ----------
(State or other jurisdiction of                         (I.R.S. Employer
incorporation or organization)                          Identification No.)



    10 Monroe Street, New York, N.Y.                    10002
    --------------------------------                    -----
(Address of principal executive offices)                (Zip Code)


Registrant's telephone number, including area code (212) 227-0955



Indicate by checkmark 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
                                                    ------      ------



The number of shares outstanding of each of the issuer's classes of common
stock, as of the close of the period covered by this report is 147,464, $2.15
par value.

Total number of sequentially numbered pages - 14

No exhibits filed.
<PAGE>

                                  FORM 10-QSB
                          KNICKERBOCKER VILLAGE, INC.
                                 BALANCE SHEET
                           AS OF SEPTEMBER 30, 1999
                                  (UNAUDITED)
<TABLE>
<CAPTION>

    Assets
    ------
<S>                                            <C>
Current Assets:
  Cash and cash equivalents                    $   410,920
  Accounts receivable (less allowance for
  doubtful accounts of $319,000)                   121,488
  Interest and other receivables                    28,564
  Prepaid expenses and other current assets        938,782
  Deferred tax asset, net                           85,000
                                               -----------
       Total Current Assets                      1,584,754
                                               -----------

Special Funds And Deposits:

  Funds for replacements, painting
            and decorating                         393,589
  Tenants' security deposits - contra              679,880
                                               -----------
       Total Special Funds and Deposits          1,073,469
                                               -----------

Fixed Assets, At Cost:
    Land                                         3,273,281
    Buildings and building equipment            16,700,235
                                               -----------
                                                19,973,516
  Less: Accumulated depreciation                12,360,437
                                               -----------
       Net Fixed Assets                          7,613,079
                                               -----------

Other Assets:
  Deferred Tax Asset, Net                          283,000
  Other Assets                                     103,276
                                               -----------
                                                   386,276
                                               -----------
            TOTAL ASSETS                       $10,657,578
                                               ===========

</TABLE>



In the opinion of management, the accompanying financial statements of
Knickerbocker Village, Inc. as at September 30, 1999 and for the related periods
then ended include all adjustments necessary in order to make the financial
statements not misleading.

                                       2
<PAGE>

                    FORM 10-QSB KNICKERBOCKER VILLAGE, INC.
                                 BALANCE SHEET
                           AS OF SEPTEMBER 30, 1999
                                  (UNAUDITED)

<TABLE>
<CAPTION>

    Liabilities And Stockholders' Equity
    ------------------------------------

<S>                                               <C>
Current Liabilities
  Accounts payable and accrued expenses           $ 1,870,320
  Unearned rental income                               75,930
  Dividends payable                                    19,023
  Income tax payable                                   85,700
  Current portion of long-term debt                    94,806
  Current portion of capital lease obligation           6,629
                                                  -----------

       Total Current Liabilities                    2,152,408

Tenants' Security Deposits - Contra                   679,880

Long-Term Debt, less current portion                5,994,406

Capital Lease Obligation, less current portion            191
                                                  -----------

       Total Liabilities                            8,826,885
                                                  -----------

Commitments and Contingencies

Stockholders' Equity:
  Limited dividend capital stock,
   par value $2.15 per share,
   Authorized - 348,837 shares;
   issued and outstanding - 147,464                   317,048
  Retained earnings                                 1,513,645
                                                  -----------

       Total Stockholders' Equity                   1,830,693
                                                  -----------

    Total Liabilities And Stockholders' Equity    $10,657,578
                                                  ===========

</TABLE>



In the opinion of management, the accompanying financial statements of
Knickerbocker Village, Inc. as at September 30, 1999 and for the related periods
then ended include all adjustments necessary in order to make the financial
statements not misleading.

                                       3
<PAGE>

                                  FORM 10-QSB
                          KNICKERBOCKER VILLAGE, INC.
     STATEMENTS OF NET INCOME, COMPREHENSIVE INCOME AND RETAINED EARNINGS
            FOR THE NINE MONTHS ENDED  SEPTEMBER  30, 1999 AND 1998
                                  (UNAUDITED)

<TABLE>
<CAPTION>

                                                     1999        1998
                                                  ----------  ----------
<S>                                               <C>         <C>
Revenues:
  Rentals                                         $7,887,860  $7,609,547
  Other income                                        21,046       8,643
                                                  ----------  ----------
                                                   7,908,906   7,618,190
                                                  ----------  ----------

Expenses:
  Wages and related costs                          1,829,872   1,783,578
  Real estate taxes                                  600,264     642,617
  Utilities                                        1,368,529   1,237,820
  Maintenance, repairs and decorating                882,301     775,445
  Depreciation and amortization                      406,561     406,907
Mortgage and other interest                          408,030     411,159
  Management and administrative fee                  724,926     677,773
  Provision for doubtful accounts                     18,730           0
  Miscellaneous operating and general expenses     1,210,631   1,199,050
                                                  ----------  ----------

                                                   7,449,844   7,134,349
                                                  ----------  ----------

Income before income taxes                           459,062     483,841

Provision for income taxes                           224,000     236,000
                                                  ----------  ----------

Net income and comprehensive income                  235,062     247,841
                                                  ----------  ----------

Retained earnings at beginning of the period       1,278,583   1,134,645
                                                  ----------  ----------

Retained earnings at end of the period            $1,513,645  $1,382,486
                                                  ==========  ==========

Earnings per share                                     $1.59       $1.68
                                                  ==========  ==========

</TABLE>



In the opinion of management, the accompanying financial statements of
Knickerbocker Village, Inc. as at September 30, 1999 and for the related periods
then ended include all adjustments necessary in order to make the financial
statements not misleading.

                                       4
<PAGE>

                                   FORM 10-QSB
                           KNICKERBOCKER VILLAGE, INC.
                            STATEMENTS OF CASH FLOWS
             FOR THE NINE MONTHS ENDED SEPTEMBER  30, 1999 AND 1998
                                  (UNAUDITED)
<TABLE>
<CAPTION>
                                                                  1999             1998
                                                               -----------      ----------
<S>                                                            <C>              <C>
Cash flows from operating activities:
  Net income                                                   $  235,062       $ 247,841
  Adjustments to reconcile net income to net
  cash provided by  operating activities:
       Depreciation and amortization                              406,561         406,907
       Provision for bad debts                                     18,730           7,000
       Deferred income taxes                                      (48,000)        (51,000)
       Changes in assets (increase) decrease:
            Rents Receivable                                        2,267          47,687
            Interest and other receivables                        135,487           3,334
            Prepaid expenses and other current assets             738,008         188,157
       Changes in liabilities increase (decrease):
            Accounts payable and accrued expenses                (329,071)       (173,477)
            Unearned rental income                                 48,434          61,888
            Other liabilities                                    (170,707)        (77,904)
                                                               ----------       ---------
       Net cash provided by operating activities                1,036,771         660,433
                                                               ----------       ---------

Cash flows from investing activities:
  Interest earned on reserve fund investments                      (5,384)         (3,742)
  Capital expenditures                                           (410,490)       (465,950)
  Contributions of cash from operations to replacement fund      (748,320)       (533,000)
  Reimbursement of expenditures paid by housing company
  from replacement fund                                           517,708         446,992
                                                               ----------       ---------
  Net cash (used in) investing activities                        (646,486)       (555,700)
                                                               ----------       ---------

Cash flows from financing activities:
  Payments on long-term debt                                      (66,017)        (60,656)
  Payments on capital lease obligation                             (6,304)         (6,304)
                                                               ----------       ---------
  Net cash  (used in) financing activities                        (72,321)        (66,960)
                                                               ----------       ---------

Net increase in cash                                              317,964          37,773
Cash at beginning of period                                        92,956           2,479
                                                               ----------       ---------
Cash at end of period                                          $  410,920       $  40,252
                                                               ==========       =========

Supplemental Disclosures Of Cash Flow Information:
  Cash paid during the period for:
  Interest                                                     $  390,000       $ 395,000
  Income taxes                                                    186,000         110,000
</TABLE>

In the opinion of management, the accompanying financial statements of
Knickerbocker Village, Inc. as at September 30, 1999 and for the related periods
then ended include all adjustments necessary in order to make the financial
statements not misleading.

                                       5
<PAGE>

                          KNICKERBOCKER VILLAGE, INC.
                         NOTES TO FINANCIAL STATEMENTS
                          SEPTEMBER 30, 1999 AND 1998


NOTE 1 - CORPORATE ORGANIZATION
         ----------------------

     Knickerbocker Village, Inc. (the "Company"), is a public, limited dividend
     housing company formed pursuant to the Housing Laws of the State of New
     York, on September 5, 1933.  The Company is regulated by the Division of
     Housing and Community Renewal ("DHCR"), a New York State regulatory agency.
     The Company is located in lower Manhattan and operates approximately 1,600
     rental units ranging in size from studios through three bedroom apartments.
     The Company requires one (1) month's rent as a security deposit on all
     apartments.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
         ------------------------------------------

     REVENUE RECOGNITION
     -------------------

     The Company recognizes revenue in the accounting period that corresponds to
     the month for which rental income is billed.  Rents received but not
     recognized as revenue as of September 30, are recorded as unearned rental
     income.

     CASH AND CASH EQUIVALENTS
     -------------------------

     For the purposes of the statements of cash flows, the Company considers all
     highly liquid debt instruments purchases with a maturity of three months or
     less to be cash equivalents.

     ALLOWANCE FOR DOUBTFUL ACCOUNTS
     -------------------------------

     Bad debts are provided for on the allowance method based on historical
     experience and management's evaluation of outstanding rents receivable.

     FIXED ASSETS
     ------------

     Fixed assets consists primarily of building improvements and equipment and
     are recorded at cost.  Depreciation is provided for financial statement
     purposes on the straight-line method, over the estimated useful lives of
     the fixed assets, which range from 5 to 30 years.  For federal income tax
     purposes, depreciation is provided for on the straight-line and accelerated
     methods.

     Expenditures for maintenance and repairs are charged to operations as
     incurred.  Upon sale or retirement of property, the cost and accumulated
     depreciation are removed from the respective accounts and any gain or loss
     is reflected in operations for the period.  Depreciation expense was
     approximately $396,000 for the nine months ended September 30, 1999 and
     1998.

     INCOME TAXES
     ------------

     Deferred tax assets and liabilities reflect the tax consequences on future
     years of differences between the tax bases of assets and liabilities, and
     their financial reporting amounts, using enacted tax rates in effect for
     the year in which the differences are expected to reverse.

                                       6
<PAGE>

                          KNICKERBOCKER VILLAGE, INC.
                         NOTES TO FINANCIAL STATEMENTS
                          SEPTEMBER 30, 1999 AND 1998


     CONCENTRATION OF CREDIT RISK
     ----------------------------

     The Company places its cash and investments for its Replacement Fund (See
     Note 3) with a high quality credit institution.  At times such investments
     may be in excess of FDIC insured limits.

     ESTIMATES
     ---------

     The preparation of financial statements in conformity with generally
     accepted accounting principles requires management to make estimates and
     assumptions that affect the reported amounts of assets and liabilities and
     disclosure of contingent assets and liabilities at the date of the
     financial statements and the reported amounts of revenues and expenses
     during the reporting period.  Actual results could differ from those
     estimates.

     FAIR VALUE OF FINANCIAL INSTRUMENTS
     -----------------------------------

     The following methods and assumptions were used to estimate the fair value
     of each class of financial instruments:

     1. Cash and cash equivalents - The carrying amounts approximate fair value
        because of the short maturity of these instruments.
     2. Investments - Fair value approximates quoted market value.
     3. Receivables - The carrying amount approximates fair value because of the
        short maturity of these instruments.
     4. Debt - The carrying amounts approximate fair value based on borrowing
        rates currently available to the Company for bank loans with similar
        terms.

     IMPAIRMENT OF LONG-LIVED ASSETS
     -------------------------------

     In accordance with SFAS No. 121, "Accounting For the Impairment of Long-
     Lived Assets and For Long-Lived Assets To Be Disposed Of", the Company
     reviews its long-lived assets, including property and equipment, and
     intangible assets for impairment whenever events or changes in
     circumstances indicate that the carrying amount of the assets may not be
     fully recoverable.  To determine recoverability of its long-lived assets,
     the Company evaluates the probability that future undiscounted net cash
     flows will be less than the carrying amount of the assets.  Impairment
     costs, if any, are measured by comparing the carrying amount of the related
     assets to their fair value.

     COMPREHENSIVE INCOME
     --------------------

     The company adopted SFAS No. 130, "Reporting Comprehensive Income" in 1998
     for the years ended December 31, 1998 and 1997. There are no items of other
     comprehensive income as defined in the pronouncement.

                                       7
<PAGE>

                          KNICKERBOCKER VILLAGE, INC.
                         NOTES TO FINANCIAL STATEMENTS
                          SEPTEMBER 30, 1999 AND 1998


NOTE 3 - REPLACEMENT, PAINTING AND DECORATING FUNDS
         ------------------------------------------

     Maintenance of these funds is requested by the Commissioner of the Housing
     and Community Renewal of the State of New York.  These funds were comprised
     of the following at September 30, 1999:

                      Cash                      $ 393,589
                                                =========

NOTE 4 - LONG-TERM DEBT
         --------------

     On January 30, 1997, the Company entered into an extension and modification
     agreement with The Greater New York Savings Bank, now known as Asteria
     Federal Savings Bank (the "Bank") for the principal amount of $6,300,000.
     The mortgage is payable in monthly installments of $50,729, inclusive of
     interest at the rate of 8 1/2% per annum and is due on February 1, 2007.
     On the maturity date, the Company may pay the remaining principal balance,
     or extend the term of the mortgage for an additional five (5) years.  The
     mortgage is collateralized by land, buildings and boilers.  The aggregate
     maturities for long-term debt for the five years after September 30, 1999
     are approximately $95,000 (2000); $103,000 (2001); $112,000 (2002);
     $122,000 (2003); $133,000 (2004); $5,524,000 (thereafter).

NOTE 5 - CAPITAL LEASE OBLIGATIONS
         -------------------------

     The Company leases certain equipment under long term leases and has the
     option to purchase the equipment at a nominal cost at the termination of
     the leases.  Included in buildings and building equipment are the following
     assets held under capital leases:

<TABLE>
<S>                                                            <C>
            Building equipment                                  $34,961
            Less accumulated depreciation                         9,828
                                                                -------
                                                                $25,133
                                                                =======
<CAPTION>

     Future minimum payments for assets under capital leases are as follows at September 30, 1999
<S>                                                            <C>
            Year Ending September 30
            ------------------------
            2000                                                $ 8,767
                                                                -------

            Total minimum lease payments                          8,767
            Less amounts representing interest                    1,947
                                                                -------
            Present value of net minimum lease payments           6,820
            Less current portion                                  6,629
                                                                -------
                 Long-term obligation                           $   191
                                                                =======

</TABLE>

                                       8
<PAGE>

                          KNICKERBOCKER VILLAGE, INC.
                         NOTES TO FINANCIAL STATEMENTS
                          SEPTEMBER 30, 1999 AND 1998


NOTE 6 - DIVIDENDS PAYABLE AND CAPITAL STOCK
         -----------------------------------

     The holders of the Company's capital stock cannot at any time receive, in
     repayment of their investment, any sums in excess of the par value of the
     stock together with cumulative dividends at the rate of 6% of par value per
     annum (without interest).  Any surplus in excess of such amounts upon
     dissolution reverts to the public authorities.

     Cumulative dividends unpaid to September 30, 1999 amounted to $570,689 or
     approximately $3.87 per share and unpaid to September 30, 1998 amounted to
     $551,666 or approximately $3.74 per share.  Dividends amounting to $19,023
     were declared during 1979, but were not paid as of September 30, 1999.
     Such dividends were approved by the DHCR.  No dividends were declared or
     paid in 1999 or 1998.

NOTE 7 - INCOME TAXES
         ------------

     The provision for income taxes for the year ended September 30, 1999 and
     1998 consist of the following:
<TABLE>
<CAPTION>
                                                    1999            1998
                                                  --------        --------
<S>                                              <C>             <C>
        Current Taxes
        --------------
            Federal                               $212,000        $223,000
            New York City                           60,000          64,000
                                                  --------        --------
            Total                                 $272,000        $287,000
                                                  --------        --------

        Deferred Taxes
        --------------
            Federal                               $(39,000)       $(40,000)
            New York City                           (9,000)        (11,000)
                                                  --------        --------
            Total                                 $(48,000)       $(51,000)
                                                  --------        --------

        Provision For Income Taxes                $224,000        $236,000
                                                  ========        ========
<CAPTION>
The provision for income taxes differs from amounts computed at statutory
rates as follows:

                                                    1999            1998
                                                  --------        --------
<S>                                              <C>             <C>
        Federal income taxes at statutory rate    $156,000        $164,000
        New York City corporation tax -
            net of federal benefit                  39,000          33,000
        Other, net                                  29,000          39,000
                                                  --------        --------
         Total                                    $224,000        $236,000
                                                  ========        ========
</TABLE>

                                       9
<PAGE>

                          KNICKERBOCKER VILLAGE, INC.
                         NOTES TO FINANCIAL STATEMENTS
                          SEPTEMBER 30, 1999 AND 1998


     Deferred income taxes reflect the net tax effects of temporary differences
     between the carrying amounts of assets and liabilities for financial
     reporting purposes and the amounts used for income tax purposes.  At
     September 30, 1999 the net deferred tax assets of $368,000 was included in
     the Company's balance sheet as follows:


        Deferred tax asset, net - Current                   $  85,000
        Deferred tax asset, net - Long term                   283,000
                                                            ---------
        Deferred tax asset, net                             $ 368,000
                                                            =========

     Significant components of the Company's net deferred tax asset at
     September 30, 1999 is as follows:

        Tax effects of:
         Accounts receivable                                $ 136,000
         Unearned rental income                                33,000
         Buildings and building equipment                     566,000
                                                            ---------
        Gross deferred tax asset                              735,000
        Valuation allowance                                  (367,000)
                                                            ---------
        Net deferred tax asset                              $ 368,000
                                                            =========


     Management believes that a valuation allowance is appropriate given the
     current estimates of future taxable income, as well as consideration of
     available tax planning strategies.  If the Company is unable to generate
     sufficient taxable income in the future through operating results,
     increases in the valuation allowance will be required through a charge to
     expense.  However, if the Company achieves profitability to utilize a
     greater portion of the deferred tax asset, the valuation allowance will be
     reduced through a credit to income.  The net change in valuation allowance
     for the nine months ended September 30, 1999 was an increase of $47,000.

NOTE 8 - MANAGEMENT FEE
         --------------

     The management fee, set by DHCR, was paid to Cherry Green Property Corp.
     ("Cherry Green"), the owner of approximately 95% of the outstanding shares
     of the Company. Such fee is reviewed and may be adjusted annually,
     effective July 1 of each year, by the DHCR.

     On September 22, 1999 the DHCR approved an increase in the management fee
     of approximately 1.4% effective July 1, 1999.

NOTE 9 - PENSION PLAN
         ------------

     Certain employees of the Company are covered under a union sponsored,
     multi-employer defined benefit pension plan.  This plan is not administered
     by the Company and contributions are determined by the union.  The
     Company's contributions for this plan were approximately $59,000 and
     $53,000 for the nine months ended September 30, 1999 and 1998,
     respectively.

                                       10
<PAGE>

                          KNICKERBOCKER VILLAGE, INC
                         NOTES TO FINANCIAL STATEMENTS
                          SEPTEMBER 30, 1999 AND 1998


NOTE 10 - COMMITMENTS AND CONTINGENCIES
          -----------------------------

     The Company, in accordance with the Modification Agreement with its Bank
     dated January 30, 1997 (Note 4), has made a commitment to complete asbestos
     abatement work and lead paint remediation work of approximately $425,000.
     Remaining costs of approximately $77,000 have been accrued in the financial
     statements as of September 30, 1999.  The costs of any additional asbestos
     abatement or lead paint remediation, if necessary, in excess of the amounts
     accrued at September 30, 1999, can not be determined at this time.

NOTE 11 - RENTAL INCOME
          -------------

     During December 1998, the Company received a two step rent increase, which
     was approved by the DHCR.  The first increase of approximately 3.3% became
     effective February 1, 1999.  The second increase of approximately 3.2% will
     become effective on February 1, 2000.

NOTE 12 - PREPAID EXPENSES AND OTHER CURRENT ASSETS
          -----------------------------------------

     Prepaid expenses and other current assets in the accompanying balance sheet
     at September 30, 1999 are as follows:

            Escrow Account             $471,138
            Prepaid:
                 Insurance              146,835
                 Real Estate Taxes      216,134
                 Supplies                95,011
                 Expenses - Other         9,664
                                       --------
                      TOTAL            $938,782
                                       ========

                                       11
<PAGE>

                                FORM 10-QSB
                           KNICKERBOCKER VILLAGE, INC
                     MANAGEMENTS DISCUSSION AND ANALYSIS OR
                               PLAN OF OPERATION
                               SEPTEMBER 30,1999
                                  (UNAUDITED)

As of September 30, 1999, the Registrant has a working capital deficit of
approximately $568,000.  On January 30, 1997, the Registrant entered into an
extension and modification agreement with Asteria Federal Savings (formerly
known as The Greater New York Savings Bank) (the "Bank"), which increased the
principal amount of the Registrant's mortgage payable to $6,300,000 (see Note 4
to the financial statements, page 8).  As a result of this mortgage extension
and modification agreement, the Registrant's annual debt service will be reduced
by approximately $155,000 per annum, effective as of March 1, 1997.

During December 1998, the Company received a two step rent increase, which was
approved by the DHCR.  The first increase of approximately 3.3% became effective
February 1, 1999.  The second increase of approximately 3.2% will become
effective on February 1, 2000.

Capital resources - The Registrant has set aside funds for capital improvements
and repairs amounting to approximately $394,000 as of September 30, 1999.

Results of operations - During the nine months ended September 30,1999, as
compared to the nine months ended September 30, 1998, total revenues increased
by approximately $291,000 or approximately 3.8%, due primarily to the rent
increase referred to above.

Operating expenses increased by approximately $315,000 or approximately 4.4%
during the nine months ended September 30, 1999, as compared to the nine months
ended September 30, 1998.  This is primarily attributable to increases in wages
and related costs, utilities, maintenance, repairs and decorating expense  and
management and administrative fees offset by a reduction in real estate taxes.
Wages and related costs increased by approximately $46,000 or approximately
2.6%, primarily due to increases in union wage rates, union pension rates and
related payroll taxes.  Utilities increased by approximately 10.6%, primarily
due to a rebate received from Con Edison in 1998 of approximately $128,000.
Maintenance, repairs and decorating expense increased by approximately $107,000
or approximately 13.8% primarily due to increases in plumbing and structural
expenses offset by decreases in painting expense and supplies.  Management and
administrative fees increased by approximately $47,000 or approximately 6.9%
primarily due to increases in the management fee for the years ended June 30,
1999 and 2000 and in commercial leasing fees which were all approved by DHCR.
Real estate taxes decreased by approximately $42,000 or approximately 6.5% due
to a decrease in the property's assessed value for the tax years ended June 30,
1999 and 2000.  The provision for taxes decreased by approximately $13,000 or
approximately 5.1%, primarily due to a decrease in income before taxes and
changes in the registrant's valuation allowance (see Note 7 to the financial
statements pages 9 and 10.)

                                       12
<PAGE>

        PART II.   OTHER INFORMATION
        ----------------------------


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


           (a)   Exhibits.

                  None.

           (b)   Reports on Form 8-K.

                  None.

                                       13
<PAGE>

                                  SIGNATURES


     Pursuant to the requirements of the Securities Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.




                        KNICKERBOCKER VILLAGE, INC.:


Dated:  November 12, 1999       By: /s/ROBERT GERSHON
                                    ----------------------------
                                    ROBERT GERSHON,
                                    Vice President and Treasurer



Dated:  November 12, 1999       By: /s/MELVIN GERSHON
                                    -------------------------
                                    MELVIN GERSHON,
                                    Secretary

                                       14