SECURITIES AND EXCHANGE COMMISSION


                                 WASHINGTON, DC
                                      20549





                                    FORM 8-K




                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                        Date of Report: December 4, 1997
                        (Date of earliest event reported)


                         INSIGNIA FINANCIAL GROUP, INC.
             (Exact name of registrant as specified in its charter)


       DELAWARE                        0-19066                     13-3591193
(State or other jurisdiction of      (Commission                (I.R.S. Employer
incorporation or organization)       File Number)                Identification
                                                                      Number)


                          One Insignia Financial Plaza
                              Post Office Box 1089
                        Greenville, South Carolina 29602
                     (Address of Principal Executive Office)


       Registrant's telephone number, including area code: (864) 239-1000


              ___________________________________________________
                                                                          

<PAGE>


Item 5.   Other Events

     On  December  4, 1997,  Insignia  Financial  Group,  Inc.,  through a joint
venture  partnership with The Witkoff Group,  completed the acquisition of Fresh
Meadows,  a 3,285 unit multifamily  apartment complex in Queens, New York. Fresh
Meadows is one of the largest and most distinguished  community  developments in
New York City.  The 147 acre complex  contains  140 low and high rise  apartment
buildings and 426,000  square feet of retail  commercial  space.  The commercial
portion of the property was acquired by an unrelated entity.

     Fresh Meadow Development,  LLC, the acquiring  partnership entity, is owned
35% by Insignia and 65% by the Witkoff Group, a New York real estate  investment
company.  The total purchase  consideration was approximately  $180 million with
$10  million  paid from cash on hand and the  remaining  $170  million  financed
through  borrowings  from Lehman  Brothers.  The property was purchased from the
John D. and Catherine T. MacArthur Foundation.

Item 7.  Financial Statements and Exhibits

          (c) Exhibits

                  Exhibit No.

                      99.1   Press Release dated December 24, 1997


<PAGE>






                                   SIGNATURES



     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report to the  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                         INSIGNIA FINANCIAL GROUP, INC.



                                     By:  /s/John K. Lines                    
                                     -----------------------------------------
                                         John K. Lines
                                         General Counsel



Date:  January 12, 1998
[{"type": "8-K", "sequence": "1", "description": "ACQUISITION OF FRESH MEADOWS", "secsgml_size_bytes": 3192}]
{"company-data": {"conformed-name": "INSIGNIA FINANCIAL GROUP INC", "cik": "0000870480", "assigned-sic": "6552", "irs-number": "133591193", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13962", "film-number": "98506299"}, "business-address": {"street1": "ONE INSIGNIA FINANCIAL PLZ", "street2": "PO BOX 1089", "city": "GREENVILLE", "state": "SC", "zip": "29602", "phone": "8032391000"}, "mail-address": {"street1": "ONE INSIGNIA FINANCIAL PLZ", "street2": "PO BOX 1089", "city": "GREENVILLE", "state": "SC", "zip": "29602"}, "former-company": {"former-conformed-name": "METSOUTH FINANCIAL CORPORATION", "date-changed": "19600201"}}
SECURITIES AND EXCHANGE COMMISSION

                                 WASHINGTON, DC
                                      20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                        Date of Report: December 4, 1997
                        (Date of earliest event reported)

                         INSIGNIA FINANCIAL GROUP, INC.
             (Exact name of registrant as specified in its charter)

       DELAWARE                        0-19066                     13-3591193
(State or other jurisdiction of      (Commission                (I.R.S. Employer
incorporation or organization)       File Number)                Identification
                                                                      Number)

                          One Insignia Financial Plaza
                              Post Office Box 1089
                        Greenville, South Carolina 29602
                     (Address of Principal Executive Office)

       Registrant's telephone number, including area code: (864) 239-1000

              ___________________________________________________
Item 5.   Other Events

     On  December  4, 1997,  Insignia  Financial  Group,  Inc.,  through a joint
venture  partnership with The Witkoff Group,  completed the acquisition of Fresh
Meadows,  a 3,285 unit multifamily  apartment complex in Queens, New York. Fresh
Meadows is one of the largest and most distinguished  community  developments in
New York City.  The 147 acre complex  contains  140 low and high rise  apartment
buildings and 426,000  square feet of retail  commercial  space.  The commercial
portion of the property was acquired by an unrelated entity.

     Fresh Meadow Development,  LLC, the acquiring  partnership entity, is owned
35% by Insignia and 65% by the Witkoff Group, a New York real estate  investment
company.  The total purchase  consideration was approximately  $180 million with
$10  million  paid from cash on hand and the  remaining  $170  million  financed
through  borrowings  from Lehman  Brothers.  The property was purchased from the
John D. and Catherine T. MacArthur Foundation.

Item 7.  Financial Statements and Exhibits

          (c) Exhibits

                  Exhibit No.

                      99.1   Press Release dated December 24, 1997
SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report to the  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                         INSIGNIA FINANCIAL GROUP, INC.

                                     By:  /s/John K. Lines                    
                                     -----------------------------------------
                                         John K. Lines
                                         General Counsel

Date:  January 12, 1998