content: ================================================================================
  
  
                         SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON, D.C. 20549
  
  
                            ----------------------------
  
                                      FORM 8-K
                            -----------------------------
  
  
                                   CURRENT REPORT
  
       Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  
  
                                    March 6, 2003
                          ---------------------------------
                  Date of report (Date of earliest event reported)
  
  
  
  
                                ATLANTIC REALTY TRUST
               (Exact name of registrant as specified in its charter)
  
  
           Maryland                   0-27562                    13-3849655
  ---------------------------- ------------------------   ------------------------
  (State or other jurisdiction (Commission File Number)   (I.R.S. Employer
  of incorporation)                                       Identification Number)
  
  
  
          747 Third Avenue, New York, NY                        10017
          ------------------------------------------------------------------
          (Address of principal executive offices)             (Zip Code)
  
  
  
          Registrant's telephone number, including area code    212-702-8561
          ------------------------------------------------------------------
  
  
          ------------------------------------------------------------------
            Former name or former address, if changed since last report
  
  
  
  ================================================================================
  
  
  
  <PAGE>
  
  
  Item 5.    Other Items.
  
            On March 5, 2003, the Company reported that the Internal Revenue
  Service ("IRS") has issued an examination report in connection with an
  audit of the 1996 and 1997 income tax returns of all of the Company. In
  reaching the positions adopted in the examination report with respect to
  the deduction for bad debts, the IRS revenue agent disregarded the fact
  that the values actually obtained for the asset correspond to the value
  used by the Company in determining its bad debt deductions. The revenue
  agent's report set forth a number of positions which special tax counsel
  and the Company believe are not consistent with applicable law and
  regulations of the IRS. There can be no assurance how this matter will be
  resolved.
  
           Incorporated by reference is a press release issued by the Company
  on March 5, 2003 which is attached hereto as Exhibit 1.1.
  
  
  
                                         2
  
  <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 hereunto duly authorized.
  
                                    ATLANTIC REALTY TRUST
  
  
  
  Date:    March 6, 2003            By: /s/ Edwin R. Frankel
                                        --------------------
                                          Name:  Edwin R. Frankel
                                          Title: Executive Vice President,
                                                 Chief Financial Officer,
                                                 Secretary and Principal
                                                 Financial and Accounting Officer
  
  
                                         3
  
  <PAGE>
  
  
                                    EXHIBIT INDEX
  
  Exhibit
  Number     Description
  -------    -----------
  
     1.1            Press Release issued by the Company on March 5, 2003
  
  
  
                                         4
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metadata_filer: {"company-data": {"conformed-name": "ATLANTIC REALTY TRUST", "cik": "0000948975", "assigned-sic": "6798", "irs-number": "133849655", "state-of-incorporation": "CA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-27198", "film-number": "03594975"}, "business-address": {"street1": "747 THIRD AVE", "city": "NEW YORK", "state": "NY", "zip": "10017", "phone": "2123551255"}, "mail-address": {"street1": "747 THIRD AVE", "city": "NEW YORK", "state": "NY", "zip": "10017"}}
text: ================================================================================
  
                         SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON, D.C. 20549
  
                            ----------------------------
  
                                      FORM 8-K
                            -----------------------------
  
                                   CURRENT REPORT
  
       Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  
                                    March 6, 2003
                          ---------------------------------
                  Date of report (Date of earliest event reported)
  
                                ATLANTIC REALTY TRUST
               (Exact name of registrant as specified in its charter)
  
           Maryland                   0-27562                    13-3849655
  ---------------------------- ------------------------   ------------------------
  (State or other jurisdiction (Commission File Number)   (I.R.S. Employer
  of incorporation)                                       Identification Number)
  
          747 Third Avenue, New York, NY                        10017
          ------------------------------------------------------------------
          (Address of principal executive offices)             (Zip Code)
  
          Registrant's telephone number, including area code    212-702-8561
          ------------------------------------------------------------------
  
          ------------------------------------------------------------------
            Former name or former address, if changed since last report
  
  ================================================================================
  Item 5.    Other Items.
  
            On March 5, 2003, the Company reported that the Internal Revenue
  Service ("IRS") has issued an examination report in connection with an
  audit of the 1996 and 1997 income tax returns of all of the Company. In
  reaching the positions adopted in the examination report with respect to
  the deduction for bad debts, the IRS revenue agent disregarded the fact
  that the values actually obtained for the asset correspond to the value
  used by the Company in determining its bad debt deductions. The revenue
  agent's report set forth a number of positions which special tax counsel
  and the Company believe are not consistent with applicable law and
  regulations of the IRS. There can be no assurance how this matter will be
  resolved.
  
           Incorporated by reference is a press release issued by the Company
  on March 5, 2003 which is attached hereto as Exhibit 1.1.
  
                                         2
  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 hereunto duly authorized.
  
                                    ATLANTIC REALTY TRUST
  
  Date:    March 6, 2003            By: /s/ Edwin R. Frankel
                                        --------------------
                                          Name:  Edwin R. Frankel
                                          Title: Executive Vice President,
                                                 Chief Financial Officer,
                                                 Secretary and Principal
                                                 Financial and Accounting Officer
  
                                         3
  EXHIBIT INDEX
  
  Exhibit
  Number     Description
  -------    -----------
  
     1.1            Press Release issued by the Company on March 5, 2003
  
                                         4