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


Date of report (Date of earliest event reported):
July 3, 1997 (June 26, 1997)
-------------------------------------------------

                                CP FUNDING CORP.
                            ------------------------
                            (A Delaware Corporation)
             (Exact name of registrant as specified in its Charter)

Delaware                               33-83762                  13-3777023
-------------------------------        --------------            --------------
(State or other jurisdiction of        Commission                (I.R.S.
incorporation or organization)         File No.                  Employer
                                                                 Identificaltion
                                                                 No.)

                                      AND

                               CHELSEA PIERS L.P.
                        --------------------------------
                        (A New York Limited Partnership)
                  (Exact name of registrant as specified in its
                Certificate and Agreement of Limited Partnership)

New York                                 33-83762                 13-3668842
-------------------------------          ----------               --------------
(State or other jurisdiction of          Commission               (I.R.S.
incorporation or organization)           File No.                 Employer
                                                                  Identification
                                                                  No.)

Chelsea Piers, Pier 62 - Suite 300
New York, New York                                10011
---------------------------------------           ------------------
(Address of Principal Executive Offices)          (Zip Code)


Registrant's telephone number, including area code (212) 336-6800


                                       1
<PAGE>


Item 5.    Other Events.
-----------------------

     Management of CP Funding Corp., a Delaware  corporation  ("CP Funding"),  a
wholly-owned  subsidiary of Chelsea Piers L.P., a New York limited  partnership,
filed a Certificate of  Dissolution  with the Secretary of State of the State of
Delaware to formally terminate the legal existence of CP Funding effective as of
June 26, 1997. A copy of the  certificate of  dissolution is attached  hereto as
Exhibit 99.1.


Item 7.   Financial Statements, Pro Forma Financial Information and Exhibits.
-----------------------------------------------------------------------------

              (a) Exhibits:

               Exhibit 99.1 --          Certificate of  Dissolution  filed  with
                                        the  Secretary  of State of the State of
                                        Delaware  effective as of June 26, 1997.


                                       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 thereunto duly authorized.


                                    CP FUNDING CORP.,
                                    a Delaware corporation



                                    By: /s/ Tom A. Bernstein
                                        ----------------------------------------
                                        Tom A. Bernstein, President


                                    CHELSEA PIERS L.P.,
                                    a New York limited partnership

                                    By: Chelsea Piers Management, Inc.,
                                        General Partner



                                    By: /s/ Tom A. Bernstein
                                        ----------------------------------------
                                        Tom A. Bernstein, President

Dated:  July 3, 1997
                                       3
<PAGE>
[{"type": "8-K", "sequence": "1", "description": "8-K - CP FUNDING CORP. AND CHELSEA PIERS L.P.", "secsgml_size_bytes": 4378}]
{"company-data": {"conformed-name": "CHELSEA PIERS LP", "cik": "0000929702", "assigned-sic": "7990", "irs-number": "133668842", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "033-83762-01", "film-number": "97636246"}, "business-address": {"street1": "936 BROADWAY", "street2": "C/O CHELSEA PIERS MANAGEMENT INC", "city": "NEW YORK", "state": "NY", "zip": "10010", "phone": "2129957660"}, "mail-address": {"street1": "936 BROADWAY", "city": "NEW YORK", "state": "NY", "zip": "10010"}}
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

Date of report (Date of earliest event reported):
July 3, 1997 (June 26, 1997)
-------------------------------------------------

                                CP FUNDING CORP.
                            ------------------------
                            (A Delaware Corporation)
             (Exact name of registrant as specified in its Charter)

Delaware                               33-83762                  13-3777023
-------------------------------        --------------            --------------
(State or other jurisdiction of        Commission                (I.R.S.
incorporation or organization)         File No.                  Employer
                                                                 Identificaltion
                                                                 No.)

                                      AND

                               CHELSEA PIERS L.P.
                        --------------------------------
                        (A New York Limited Partnership)
                  (Exact name of registrant as specified in its
                Certificate and Agreement of Limited Partnership)

New York                                 33-83762                 13-3668842
-------------------------------          ----------               --------------
(State or other jurisdiction of          Commission               (I.R.S.
incorporation or organization)           File No.                 Employer
                                                                  Identification
                                                                  No.)

Chelsea Piers, Pier 62 - Suite 300
New York, New York                                10011
---------------------------------------           ------------------
(Address of Principal Executive Offices)          (Zip Code)

Registrant's telephone number, including area code (212) 336-6800

                                       1
Item 5.    Other Events.
-----------------------

     Management of CP Funding Corp., a Delaware  corporation  ("CP Funding"),  a
wholly-owned  subsidiary of Chelsea Piers L.P., a New York limited  partnership,
filed a Certificate of  Dissolution  with the Secretary of State of the State of
Delaware to formally terminate the legal existence of CP Funding effective as of
June 26, 1997. A copy of the  certificate of  dissolution is attached  hereto as
Exhibit 99.1.

Item 7.   Financial Statements, Pro Forma Financial Information and Exhibits.
-----------------------------------------------------------------------------

              (a) Exhibits:

               Exhibit 99.1 --          Certificate of  Dissolution  filed  with
                                        the  Secretary  of State of the State of
                                        Delaware  effective as of June 26, 1997.

                                       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 thereunto duly authorized.

                                    CP FUNDING CORP.,
                                    a Delaware corporation

                                    By: /s/ Tom A. Bernstein
                                        ----------------------------------------
                                        Tom A. Bernstein, President

                                    CHELSEA PIERS L.P.,
                                    a New York limited partnership

                                    By: Chelsea Piers Management, Inc.,
                                        General Partner

                                    By: /s/ Tom A. Bernstein
                                        ----------------------------------------
                                        Tom A. Bernstein, President

Dated:  July 3, 1997
                                       3