SECURITIES AND EXCHANGE COMMISSION
                                 Washington, DC
                            -------------------------

                                    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 August 31, 1999


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 0-17793


                  Wilder Richman Historic Properties II, L.P.
                  -------------------------------------------
             (Exact name of Registrant as specified in its charter)


        Delaware                                        13-3481443
------------------------------                       ------------------
State or other jurisdiction of                       (I.R.S. Employer
incorporation or organization                        Identification No.)



        599 W. Putnam Avenue
        Greenwich, Connecticut                                     06830
----------------------------------------                          --------
(Address of principal executive offices)                          Zip Code


Registrant's telephone number, including area code:  (203) 869-0900


Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  Registrant  was
required to file such reports),  and (2) has been subject to filing requirements
for the past 90 days.


Yes   |X|       No |_|
<PAGE>

                   WILDER RICHMAN HISTORIC PROPERTIES II, L.P.

                         Part I - Financial Information


Table of Contents

Item 1.    Financial Statements                                             Page
-------    --------------------                                             ----

           Balance Sheets as of August 31, 1999 (Unaudited) and
             February 28, 1999                                                 3

           Statements of Operations for the three and six month periods
             ended August 31, 1999 and 1998 (Unaudited)                        4

           Statements of Cash Flows for the six months
             ended August 31, 1999 and 1998 (Unaudited)                        5

           Notes to Financial Statements as of August 31, 1999 (Unaudited)     6

Item 2.    Management's Discussion and Analysis of Financial Condition
           and Results of Operations9

Item 3.    Quantitative and Qualitative Disclosure about Market Risk          10


                                       2
<PAGE>

                   WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                                 BALANCE SHEETS

                                             August 31, 1999
                                               (Unaudited)     February 28, 1999
                                               -----------     -----------------
ASSETS

Cash and cash equivalents                      $ 1,134,190          $   663,495

Investments in operating partnerships            1,330,494            1,192,736

Note receivable                                                         317,713

Accrued interest receivable                                             140,083
                                               -----------          -----------
                                               $ 2,464,684          $ 2,314,027
                                               ===========          ===========


LIABILITIES AND PARTNERS' EQUITY (DEFICIT)

Liabilities

  Other liabilities                            $     5,000          $    10,000
  Due to related parties                           177,397              169,201
                                               -----------          -----------

                                                   182,397              179,201
                                               -----------          -----------

Partners' equity (deficit)

  Limited partners                               2,425,773            2,279,787
  General partner                                 (143,486)            (144,961)
                                               -----------          -----------

                                                 2,282,287            2,134,826
                                               -----------          -----------

                                               $ 2,464,684          $ 2,314,027
                                               ===========          ===========


                       See notes to financial statements.


                                       3
<PAGE>

                   WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)


<TABLE>
<CAPTION>
                                      Three Months          Six Months           Three Months         Six Months
                                        Ended                 Ended                Ended               Ended
                                     August 31, 1999       August 31, 1999     August 31, 1998       August 31, 1998
                                     ---------------       ---------------     ---------------       ---------------
<S>                                     <C>                 <C>                 <C>                  <C>
REVENUES

   Interest                             $  13,650           $  24,015           $  14,185            $  28,278

EXPENSES

  Operating                                 7,300              14,312              15,919               23,588
                                        ---------           ---------           ---------            ---------

Income (loss) from operations               6,350               9,703              (1,734)               4,690

Equity in income (loss) of
   operating partnerships                  51,587             137,758             (56,277)            (175,329)
                                        ---------           ---------           ---------            ---------

NET EARNINGS (LOSS)                     $  57,937           $ 147,461           $ (58,011)           $(170,639)
                                        =========           =========           =========            =========


NET EARNINGS (LOSS) PER UNIT
   OF LIMITED PARTNERSHIP
   INTEREST                             $   71.69           $  182.48           $  (71.79)           $ (211.17)
                                        =========           =========           =========            =========
</TABLE>

                       See notes to financial statements.


                                       4
<PAGE>

                   WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                            STATEMENTS OF CASH FLOWS
                    SIX MONTHS ENDED AUGUST 31, 1999 AND 1998
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                            1999           1998
                                                         -----------    -----------
<S>                                                      <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES

Net earnings (loss)                                      $   147,461    $  (170,639)

Adjustments to reconcile net earnings (loss) to
  net cash provided by operating activities
    Equity in loss (income) of operating partnerships       (137,758)       175,329
    Decrease (increase) in accrued interest receivable       140,083        (10,440)
     Decrease in other liabilities                            (5,000)
    Increase in due to related parties                         8,196          7,500
                                                         -----------    -----------

Net cash provided by operating activities                    152,982          1,750
                                                         -----------    -----------


CASH FLOWS FROM INVESTING ACTIVITIES

Receipt on note receivable                                   317,713

Net cash provided by investing activities                    317,713
                                                                        -----------

Net increase in cash and cash equivalents                    470,695          1,750

Cash and cash equivalents at beginning of period             663,495        649,233
                                                         -----------    -----------

Cash and cash equivalents at end of period               $ 1,134,190    $   650,983
                                                         ===========    ===========
</TABLE>

                       See notes to financial statements.


                                       5
<PAGE>

                   WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                          NOTES TO FINANCIAL STATEMENTS
                                 AUGUST 31, 1999
                                   (Unaudited)


1.       The accompanying  unaudited financial  statements have been prepared in
         accordance with generally  accepted  accounting  principles for interim
         financial  information.   They  do  not  include  all  information  and
         footnotes  required by generally  accepted  accounting  principles  for
         complete financial  statements.  The results of operations are impacted
         significantly   by  the  results  of   operations   of  the   Operating
         Partnerships,  which are provided on an unaudited  basis during interim
         periods.   Accordingly,   the  accompanying  financial  statements  are
         dependent on such unaudited information.  In the opinion of the General
         Partner, the financial statements include all adjustments  necessary to
         reflect  fairly  the  results of the  interim  periods  presented.  All
         adjustments are of a normal  recurring  nature.  No significant  events
         have  occurred   subsequent  to  February  28,  1999  and  no  material
         contingencies  exist which would require additional  disclosures in the
         report under Regulation S-X, Rule 10-01 paragraph A-5.

         The results of operations  for the six months ended August 31, 1999 are
         not necessarily indicative of the results to be expected for the entire
         year.


2.       The  investments  in Operating  Partnerships  as of August 31, 1999 and
         February 28, 1999 are as follows:

         Amount paid to investee through February 28, 1999         $ 16,388,000

         Accumulated cash distributions from Operating
          Partnerships through February 28, 1999                     (3,180,441)

         Equity in accumulated loss of Operating Partnerships
           through February 28, 1999                                (12,014,823)
                                                                  -------------

         Balance, February 28, 1999                                   1,192,736

         Equity in income of operating partnerships for the
           six months ended August 31, 1999                             137,758
                                                                  -------------

         Balance, August 31, 1999                                 $   1,330,494
                                                                  =============



                                       6
<PAGE>

                   WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                    NOTES TO FINANCIAL STATEMENTS - continued
                                 AUGUST 31, 1999
                                   (Unaudited)


Note 2 - Continued

         The combined  balance sheets of the Operating  Partnerships  as of June
         30, 1999 and December 31, 1998 are as follows:

<TABLE>
<CAPTION>
                                                                   June 30, 1999
                                                                    (Unaudited)      December 31, 1998
                                                                    -----------      -----------------
         <S>                                                        <C>                 <C>
         ASSETS

         Land                                                       $ 1,150,473         $ 1,150,473
         Buildings and equipment (net of accumulated depreciation
           of $13,164,104 and 12,497,566, respectively)              39,736,454          40,402,992
         Cash and cash equivalents                                    1,478,346           1,951,002
         Deferred costs                                                 471,729             493,546
         Mortgage escrow deposits                                     1,114,310           1,134,739
         Tenant security deposits                                       725,172             725,172
         Other assets                                                   119,367              36,594
                                                                    -----------         -----------

                                                                    $44,795,851         $45,894,518
                                                                    ===========         ===========

         LIABILITIES AND PARTNERS' EQUITY

         Liabilities

           Mortgages payable                                        $26,388,332         $26,522,146
           Notes payable                                                317,713
           Accounts payable and accrued expenses                        142,381             676,712
           Accrued interest                                             132,298             269,139
           Tenant security deposits payable                             725,172             725,172
           Due to general partner and affiliates                      1,852,611           2,028,955
                                                                    -----------         -----------

                                                                     29,240,794          30,539,837
                                                                    -----------         -----------

         Partners' equity

           Wilder Richman Historic Properties II, L.P.                1,330,494           1,192,736
           General partner                                           14,224,563          14,161,945
                                                                    -----------         -----------

                                                                     15,555,057          15,354,681
                                                                    -----------         -----------

                                                                    $44,795,851         $45,894,518
                                                                    ===========         ===========
</TABLE>


                                       7
<PAGE>

                   WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                    NOTES TO FINANCIAL STATEMENTS - continued
                                 AUGUST 31, 1999
                                   (Unaudited)


Note 2 - Continued

         The   unaudited   statements   of  the   operations  of  the  Operating
         Partnerships  for the six months  ended  June 30,  1999 and 1998 are as
         follows:



<TABLE>
<CAPTION>
                                                         1999           1998
                                                       -----------    -----------
         <S>                                           <C>            <C>
         Revenue

         Rent                                          $ 3,244,944    $ 3,031,089
                                                       -----------    -----------

                                                         3,244,944      3,031,089
                                                       -----------    -----------

         Expenses

         Administrative                                    278,794        311,779
         Operating                                       1,069,067      1,272,335
         Management fees                                    95,011         90,071
         Interest                                          913,341        927,076
         Depreciation and amortization                     688,355        684,852
                                                       -----------    -----------

                                                         3,044,568      3,286,113
                                                       -----------    -----------

         Net EARNINGS (loss)                           $   200,376    $  (255,024)
                                                       ===========    ===========


         Net EARNINGS (loss) allocated to

         Wilder Richman Historic Properties II, L.P.   $   137,758    $  (175,329)
         General partner                                    62,618        (79,695)
                                                       -----------    -----------

                                                       $   200,376    $  (255,024)
                                                       ===========    ===========
</TABLE>

3.       Additional  information,   including  the  audited  February  28,  1999
         Financial   Statements  and  the  Summary  of  Significant   Accounting
         Policies,  is included in the Partnership's  Annual Report on Form 10-K
         for the fiscal year ended February 28, 1999 on file with the Securities
         and Exchange Commission.


                                       8
<PAGE>

                   WILDER RICHMAN HISTORIC PROPERTIES II, L.P.

Item 2   Management's  Discussion  and Analysis of Financial  Conditions  and
         Results of Operations

Liquidity and Capital Resources

As of August  31,  1999,  Wilder  Richman  Historic  Properties  II,  L.P.  (the
"Partnership") experienced few changes in its financial condition as compared to
February  28,  1999,  with the  exception  of the  investment  in the  Operating
Partnerships  resulting from the equity in income of operating  partnerships for
the six months ended June 30, 1999 and the repayment of the note receivable from
the  Operating  Partnerships.  Cash  and  cash  equivalents  of the  Partnership
includes  approximately  $582,000  (which was  previously  held in an  operating
deficit escrow  established in connection  with the refinancing of the mortgages
of the Operating  Partnerships) and approximately $460,000 (which represents the
payment of the  outstanding  advance owed to the  Partnership  by the  Operating
Partnerships  of  $317,713)  and  accrued  interest  thereon  (of  approximately
$142,000)  which was repaid during the first fiscal quarter of the current year.
Pursuant to the  Partnership  Agreement,  such funds may be held or utilized for
other Partnership purposes in the discretion of the General Partner. The General
Partner is planning to make a distribution  to Limited  Partners of record as of
December  31,  1999 of  approximately  $964,000  ($1,205  per Unit) in the first
quarter of 2000.

Because  the  outstanding  advance  owed  to the  Partnership  was  repaid,  the
Operating  Partnerships  are no longer subject to  restrictions  concerning cash
flow distributions and the payment of certain fees to affiliates.  To the extent
cash flow is  generated  by the  Operating  Partnerships,  such cash flow may be
retained by the Operating  Partnerships  or may be distributed at the discretion
of management,  pursuant to the terms of the limited  partnership  agreements of
the Operating Partnerships.  To the extent there are proceeds from a future sale
or refinancing  of the Complex,  the  Partnership  will receive 100% of any such
proceeds   available  for  distribution   until  the  7%  cumulative   preferred
distribution has been achieved.  Through December 1998, the cumulative preferred
distribution  is  approximately  $10,813,000.   Although  recent  rental  market
conditions have been strong, management has been building up its cash balance to
protect against potential adverse changes in market conditions and unanticipated
expenses.  In  addition,   because  the  property  has  been  in  operation  for
approximately  ten  years,  management  is  addressing  the  potential  need for
extensive  capital  improvements  that may be necessary in the near future.  The
General Partner and the Operating General Partner are contemplating the economic
benefits of a refinancing  of the Property in order to enhance cash flow.  Until
such time as the  Property is  refinanced  at a lower annual debt  service,  the
Partnership does not anticipate making annual cash flow distributions to Limited
Partners (except as discussed below).  If a refinancing is ultimately  achieved,
the resumption of cash flow  distributions will be assessed on an ongoing basis,
based on the results of operations,  the physical  condition of the property and
the local  market  conditions,  among other  things.  As of June 30,  1999,  the
Operating  Partnerships'  balance in the replacement reserves account,  which is
controlled by the Lender to be used for certain repairs or capital improvements,
was approximately $807,000.

Although the  Property is reporting  cash flow for the six months ended June 30,
1999 (see Results From Operations,  below), the Operating Partnerships' cash and
cash  equivalents as of June 30, 1999 have decreased by  approximately  $473,000
compared to  December  31,  1998,  due to the payment of the advance and accrued
interest thereon by the Operating Partnerships (of approximately  $460,000), the
payment of accrued  management fees (of approximately  $226,000) and the payment
associated with the accrued  litigation  settlement (see the annual report dated
February 28,  1999).  The  replacement  reserve has  increased by  approximately
$45,000 and accounts  payable and accrued  expenses  decreased by  approximately
$34,000.

The Partnership's  operating results are dependent upon the operating results of
the  Operating  Partnerships  and are  significantly  impacted by the  Operating
Partnerships'  policies.  The  Partnership  accounts for its  investment  in the
Operating Partnerships in accordance with the equity method of accounting, under
which the  investment  is carried at cost and is adjusted for the  Partnership's
share of the  Operating  Partnerships'  results  of  operations  and by any cash
distributions  received.   Equity  in  loss  of  each  investment  in  Operating
Partnership  allocated to the  Partnership  is  recognized  to the extent of the
Partnership's  investment balance in each Operating  Partnership.  Any equity in
loss  in  excess  of  the  Partnership's  investment  balance  in  an  Operating
Partnership   is  allocated  to  other   partners'   capital  in  any  Operating
Partnership.  As a  result,  the  equity  in loss  of  investment  in  operating
partnerships is expected to decrease as the Partnership's investment balances in
the  respective  Operating  Partnerships  become  zero.  However,  the  combined
statements of operations  of the Operating  Partnerships  reflected in Note 2 to
the  Partnership's  financial  statements  include the operating  results of all
Operating Partnerships, regardless of the Partnership's investment balances.


                                       9
<PAGE>

                   WILDER RICHMAN HISTORIC PROPERTIES II, L.P.

Item 2   Management's  Discussion  and Analysis of Financial  Conditions  and
         Results of Operations

Results of Operations

For the six months ended August 31, 1999,  the  statement of  operations  of the
Partnership  reflects net earnings of $147,461,  which includes equity in income
of  operating  partnerships  of  $137,758.   Nonrecognition  of  income  of  the
Partnership's  investment  in Dixon  Mills  Phase I during the six months  ended
August 31, 1999 was  approximately  $61,000 in accordance with the equity method
of accounting.  The Operating  Partnerships reported net earnings during the six
months  ended  June  30,  1999  of  $200,376,   inclusive  of  depreciation  and
amortization of $688,355.  The Operating  Partnerships generated cash flow after
required debt service payments and required  replacement reserve deposits during
the six months ended June 30, 1999 of  approximately  $717,000,  which  includes
principal amortization under the mortgages (approximately $134,000) and deposits
to required escrows (approximately  $38,000). The Operating Partnerships did not
utilize any replacement reserves during the six months ended June 30, 1999.

For the six months ended August 31, 1998,  the  statement of  operations  of the
Partnership  reflects a net loss of $170,639,  which includes  equity in loss of
operating   partnerships   of   $175,329.   Nonrecognition   of  losses  of  the
Partnership's  investment  in Dixon  Mills  Phase I during the six months  ended
August 31, 1998 was  approximately  $78,000 in accordance with the equity method
of  accounting.  The Operating  Partnerships  reported a net loss during the six
months  ended  June  30,  1998  of  $255,024,   inclusive  of  depreciation  and
amortization  of $684,852.  Despite  expenditures  incurred in  connection  with
planned  improvements,   the  Operating  Partnerships  generated  cash  flow  of
approximately   $83,000  after  required  debt  service  payments  and  required
replacement  reserve  deposits during the six months ended June 30, 1998,  which
includes principal amortization under the mortgages (approximately $125,000) and
deposits to required escrows (approximately $45,000). The Operating Partnerships
did not utilize any  replacement  reserves  during the six months ended June 30,
1998.

Although the Operating Partnerships are operating above breakeven, management is
continuing to examine  methods to maintain high  occupancy  rates while steadily
increasing  rents  and  economizing  operations.  There  has  been  ongoing  new
construction of luxury  multi-housing  in the vicinity of the Dixon Mill Complex
(the  "Complex").  Such housing  includes  asking rents that are  comparable and
higher than rents currently charged by the Complex.  Although the Complex as not
been adversely impacted by the new competition,  it cannot be readily determined
whether such new housing will have a positive or negative  impact on the Complex
or its cash flow in the  future.  The  ability to  continue to perform at recent
levels will be  dependent on the ability to lease units as lease terms expire on
a month to month basis. The average  occupancy for the six months ended June 30,
1999 and 1998 was approximately 98%, respectively.  The future operating results
of the Complex will be extremely  dependent on competition and market conditions
and therefore may be subject to significant volatility.

Year 2000 Compliance

The   inability   of   computers,   software  and  other   equipment   utilizing
microprocessors  to recognize and properly process data fields  containing a two
digit year is commonly referred to as the year 2000 compliance ("Y2K") issue. As
the year 2000  approaches,  such  systems  may be unable to  accurately  process
certain  data-based  information.  Many businesses may need to upgrade  existing
systems or purchase new ones to correct the Y2K issue.  Registrant has performed
an assessment of its computer software and hardware and believes it has made the
necessary upgrades in an effort to ensure compliance.  However,  there can be no
assurance that the systems of other entities on which Registrant  relies will be
timely  converted.  The total cost  associated  with Y2K  implementation  is not
expected to  materially  impact  Registrant's  financial  position or results of
operations in any given year. However,  there can be no assurance that a failure
to convert by  Registrant  or another  entity would not have a material  adverse
impact on Registrant.

Item 3       Quantitative and Qualitative Disclosure About Market Risk

Because of the Property's proximity to New York City and the strong local rental
market,  there is a significant  likelihood that other multi-family  residential
complexes will continue to be developed in the general vicinity of the Property.
Such  development  activity could  adversely  affect the  Property's  ability to
maintain its high occupancy levels or its ability to maintain or increase rents.


                                       10
<PAGE>

                   WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                           Part II - Other Information


Item 1.       Legal Proceedings.

              None

Item 2.       Changes in Securities

              None

Item 3.       Defaults Upon Senior Securities

              None

Item 4.       Submission of Matters to a Vote of Security Holders

              None

Item 5.       Other Information

              None


                                       11
<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.

                                     WILDER RICHMAN HISTORIC PROPERTIES II, L.P.

                                     By: Wilder Richman Historic Corporation
                                         General Partner


Dated:  December 29, 1999                /s/ Richard Paul Richman
                                         --------------------------------------
                                         Richard Paul Richman
                                         President and Chief Executive Officer


                                       12