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<HEAD>
<TITLE> FORM S-8 </TITLE>
</HEAD>
<BODY>

<P ALIGN=RIGHT><FONT SIZE=3>REGISTRATION NO. 333-</FONT></P>

<HR SIZE=1 NOSHADE>

<P ALIGN=CENTER><FONT SIZE=3><B>SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549<BR>
____________________________________<BR>
FORM S-8<BR>
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933<BR>
____________________________________</B></FONT></P>
<P ALIGN=CENTER><FONT SIZE=3><B>CHELSEA PROPERTY GROUP, INC.</B><BR>
(Exact name of registrant as specified in its charter)</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22-3251332
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><BR>
(State or other jurisdiction&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I.R.S. employer<BR>
of incorporation or organization)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;identification no.)</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3>103 <B>Eisenhower Parkway<BR>
Roseland, New Jersey 07068<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(973) 228-6111
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><BR>
(Address of principal executive offices)</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;2000 Stock Option Plan&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><BR>
(Full title of the plan)</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>MARTIN H. NEIDELL<BR>
Stroock &amp; Stroock &amp; Lavan LLP<BR>
180 Maiden Lane<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York, New
York 10038&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><BR>
(Name and address of agent for service)</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(212)
806-5836&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><BR>
(Telephone number, including area code of agent for service)</FONT></P>
<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=CENTER>

<P ALIGN=CENTER><FONT SIZE=3><B>CALCULATION OF REGISTRATION FEE</B></FONT></P>

<PRE>
<FONT SIZE=1>
========================= ================ ===================== ====================== ====================
                                           PROPOSED MAXIMUM      PROPOSED MAXIMUM
TITLE OF SECURITIES       AMOUNT TO BE     OFFERING PRICE PER    AGGREGATE OFFERING     AMOUNT OF
TO BE REGISTERED          REGISTERED       SHARE (1)             PRICE                  REGISTRATION FEE
------------------------- ---------------- --------------------- ---------------------- --------------------
Common Stock
$.01 par value..........  1,400,000        $45.21                $63,294,000            $15,823.50
                          shares (2)
========================= ================ ===================== ====================== ====================
</FONT>
</PRE>
<BR>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>(1)</TD>
<TD WIDTH=95%>Estimated solely for purposes of calculating the registration fee pursuant to
Rule 457(c) on the basis of the closing price for a share of Common Stock of
Registrant as reported on the New York Stock Exchange.</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>(2)</TD>
<TD WIDTH=95%>There are also being registered hereunder such additional shares as may be
issued pursuant to the anti-dilution provisions of the plan.</TD>
</TR>
</TABLE>
<BR>
<HR SIZE=1 NOSHADE>

<PAGE>
<P ALIGN=CENTER><FONT SIZE=3><B>PART I</B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>Note:</TD>
<TD WIDTH=90%>The documents containing the information specified in this Part I will be
sent or given to employees as specified by Rule 428(b)(1) promulgated under the
Securities Act of 1933, as amended (the "Act"). Such documents need not be filed
with the Securities and Exchange Commission (the "Commission") either as part of
this Registration Statement or as prospectuses or prospectus supplements
pursuant to Rule 424 under the Act. These documents and the documents
incorporated by reference in the Registration Statement pursuant to Item 3 of
Part II of this Form S-8, taken together, constitute a prospectus that meets the
requirements of Section 10(a) of the Act. See Rule 428(a)(1) under the Act.</TD>
</TR>
</TABLE>
<BR>

<PAGE>

<P ALIGN=CENTER><FONT SIZE=3><B>PART II</B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></FONT></P>

<P ALIGN=LEFT><FONT SIZE=3><B>Item 3. Incorporation of Documents by Reference.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following documents heretofore filed by the Registrant with the Securities and
Exchange Commission (the "Commission") are incorporated herein by
reference:</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant's Annual Report on Form 10-K for
the year ended December 31, 2000;</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant's Quarterly Report on Form 10-Q for
the quarter ended March 31, 2001;</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item 1 of the Registrant's Registration Statement
on Form 8-A, as amended, filed September 8, 1993 to register the Registrant's
Common Stock, par value $.01 per share (the "Common Stock"), pursuant to Section
12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange
Act").</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d)
of the Exchange Act after the date of this Registration Statement and prior to
the filing of a post-effective amendment to this Registration Statement which
indicates that all securities offered hereby have been sold or which deregisters
all securities then remaining unsold, shall be deemed to be incorporated by
reference in this Registration Statement and to be part hereof from the date of
filing of such documents.</FONT></P>

<P ALIGN=LEFT><FONT SIZE=3><B>Item 4. Description of Securities.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable.</FONT></P>

<P><FONT SIZE=3><B>Item 5.  Interests of Named Experts and Counsel.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable.</FONT></P>

<P ALIGN=LEFT><FONT SIZE=3><B>Item 6. Indemnification of Directors and Officers.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Articles of Incorporation and By-laws of the Registrant provide for the
Registrant to indemnify its officers, directors and employees to the fullest
extent permitted by the Maryland General Corporation Law against certain
liabilities and expenses.</FONT></P>

<P ALIGN=LEFT><FONT SIZE=3><B>Item 7. Exemption from Registration Claimed.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable.</FONT></P>

<P ALIGN=LEFT><FONT SIZE=3><B>Item 8. Exhibits.</B></FONT></P>

<P><FONT SIZE=3>Exhibit<BR>
<U>Number</U></FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>5</TD>
<TD WIDTH=5%>-</TD>
<TD WIDTH=90%>Opinion of Stroock &amp; Stroock &amp; Lavan LLP.</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>23(a)</TD>
<TD WIDTH=5%>-</TD>
<TD WIDTH=90%>Consent of Stroock &amp; Stroock &amp; Lavan LLP. Included in<BR>
Exhibit 5 to this Registration Statement.</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>23(b)</TD>
<TD WIDTH=5%>-</TD>
<TD WIDTH=90%>Consent of Ernst &amp; Young LLP.</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>24</TD>
<TD WIDTH=5%>-</TD>
<TD WIDTH=90%>Power of Attorney (included on signature page).</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3><B>Item 9.  Undertakings.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned Registrant hereby undertakes:</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)
&nbsp;&nbsp;&nbsp;To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%></TD>
<TD WIDTH=90%>(i)&nbsp;&nbsp;&nbsp;To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933;</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%></TD>
<TD WIDTH=90%><FONT SIZE=3>(ii)&nbsp;&nbsp;&nbsp;To reflect in the prospectus
any facts or events arising after the effective date of the Registration
Statement (or the most recent post- effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the
information set forth in the Registration Statement;</FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%></TD>
<TD WIDTH=90%><FONT SIZE=3>(iii)&nbsp;&nbsp;&nbsp;To include any material
information with respect to the plan of distribution not previously disclosed in
the Registration Statement or any material change to such information in the
Registration Statement.</FONT></TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provided,
however, that paragraphs (1)(i) and (1)(ii) do not apply if the registration
Statement is on Form S-3 or Form S-8 and the information required to be included
in a post-effective amendment by those paragraphs is contained in periodic
reports filed by the Registrant pursuant to Section 13 or Section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in the
Registration Statement.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)
&nbsp;&nbsp;&nbsp;That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to be
a new Registration Statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial
<I>bona </I> <I>fide</I> offering thereof.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)
&nbsp;&nbsp;&nbsp;To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)
&nbsp;&nbsp;&nbsp;If the Registrant is a foreign private issuer, to file a
post-effective amendment to the Registration Statement to include any financial
statements required by Rule 3-19 of Regulation S-X at the start of any delayed
offering or throughout a continuous offering.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the Registrant's
annual report pursuant to Section 13(a) or Section 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to Section 15(d) of the Securities Exchange
Act of 1934) that is incorporated by reference in the Registration Statement
shall be deemed to be a new Registration Statement relating to the securities
offered therein, and the offering of such securities at that time shall be
deemed to be the initial <I>bona fide</I> offering thereof.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers and controlling persons of the Registrant
pursuant to the foregoing provisions, or otherwise, the Registrant has been
advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act of
1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities
Act of 1933 and will be governed by the final adjudication of such issue.</FONT></P>

<PAGE>

<P ALIGN=CENTER><FONT SIZE=3><B>SIGNATURES</B></FONT></P>


<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that
it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of
Roseland, State of New Jersey, on the 7th of June, 2001.</FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=50%>&nbsp;&nbsp;</TD>
<TD WIDTH=50%>CHELSEA PROPERTY GROUP, INC.<BR>
(Registrant)<BR>
<BR>
<BR>
By:<U>/s/ David C. Bloom&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
David C. Bloom<BR>
Chairman of the Board and<BR>
Chief Executive Officer</TD>
</TR>
</TABLE>
<BR>

<P ALIGN=CENTER><FONT SIZE=3><B>POWER OF ATTORNEY</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement
has been signed by the following persons in the capacities and on the dates
indicated. Each person whose signature appears below hereby authorizes David C.
Bloom, Leslie T. Chao, Michael J. Clarke and Denise M. Elmer, and each of them
acting individually, with full power of substitution to file one or more
amendments, including Post-Effective Amendments, to this Registration Statement,
which Amendments may make such changes as any of them deems appropriate, and
each person whose signature appears below, individually and in each capacity
stated below, hereby appoints David C. Bloom, Leslie T. Chao, Michael J. Clarke
and Denise M. Elmer, and each of them acting individually, with full power of
substitution, as Attorney-in-Fact to execute his name and on his behalf to file
any such Amendments to this Registration Statement.</FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=33%><U>Signature</U></TD>
<TD WIDTH=45%><U>Title</U></TD>
<TD WIDTH=20%><U>Date</U></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=35%><U>/s/ David C. Bloom&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
David C. Bloom</TD>
<TD WIDTH=45%>Chairman of the Board and Chief<BR>
Executive Officer (Prinicpal Executive<BR>
Officer)</TD>
<TD WIDTH=20%>June 7, 2001</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=35%><U>/s/ Michael J. Clarke&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Michael J. Clarke</TD>
<TD WIDTH=45%>Senior Vice President and Chief Financial<BR>
Officer (Principal Financial and Accounting<BR>
Officer)</TD>
<TD WIDTH=20%>June 7, 2001</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=35%><U>/s/ William D. Bloom&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
William D. Bloom</TD>
<TD WIDTH=45%>Director</TD>
<TD WIDTH=20%>June 7, 2001</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=35%><U>/s/ Brendan T. Byrne&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Brendan T. Byrne</TD>
<TD WIDTH=45%>Director</TD>
<TD WIDTH=20%>June 7, 2001</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=35%><U>/s/ Robert Frommer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Robert Frommer</TD>
<TD WIDTH=45%>Director</TD>
<TD WIDTH=20%>June 7, 2001</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=35%><U>/s/ Barry M. Ginsburg&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Barry M. Ginsburg</TD>
<TD WIDTH=45%>Director</TD>
<TD WIDTH=20%>June 7, 2001</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=35%><U>/s/ Philip D. Kaltenbacher&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;</U><BR>
Philip D. Kaltenbacher</TD>
<TD WIDTH=45%>Director</TD>
<TD WIDTH=20%>June 7, 2001</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=35%><U>/s/ Reuben S. Leibowitz&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Reuben S. Leibowitz</TD>
<TD WIDTH=45%>Director</TD>
<TD WIDTH=20%>June 7, 2001</TD>
</TR>
</TABLE>
<BR>

<PAGE>

<P ALIGN=CENTER><FONT SIZE=3><B>EXHIBIT INDEX</B></FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>Exhibit<BR>
<U>Number</U></TD>
<TD WIDTH=70%><BR>
<U>Description</U></TD>
<TD WIDTH=20%><BR>
<U>Page Number</U></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>5</TD>
<TD WIDTH=70%>Opinion of Stroock &amp; Stroock &amp; Lavan LLP.</TD>
<TD WIDTH=20%>&nbsp;&nbsp;</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>23(a)</TD>
<TD WIDTH=70%>Consent of Stroock &amp; Stroock &amp; Lavan LLP.<BR>
Included in Exhibit 5 to this Registration Statement</TD>
<TD WIDTH=20%>&nbsp;&nbsp;</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>23(b)</TD>
<TD WIDTH=70%>Consent of Ernst &amp; Young LLP.</TD>
<TD WIDTH=20%>&nbsp;&nbsp;</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>24</TD>
<TD WIDTH=70%>Power of Attorney (included on signature page).</TD>
<TD WIDTH=20%>&nbsp;&nbsp;</TD>
</TR>
</TABLE>
<BR>


</BODY>
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FORM S-8
REGISTRATION NO. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
____________________________________
CHELSEA PROPERTY GROUP, INC.
(Exact name of registrant as specified in its charter)
Maryland        
              
             
       22-3251332
(State or other jurisdiction          
            (I.R.S. employer
of incorporation or organization)          
  identification no.)
103
Eisenhower Parkway
Roseland, New Jersey 07068
(973) 228-6111
(Address of principal executive offices)
2000 Stock Option Plan
(Full title of the plan)
MARTIN H. NEIDELL
Stroock & Stroock & Lavan LLP
180 Maiden Lane
New York, New
York 10038
(Name and address of agent for service)
(212)
806-5836
(Telephone number, including area code of agent for service)
CALCULATION OF REGISTRATION FEE
========================= ================ ===================== ====================== ====================
                                           PROPOSED MAXIMUM      PROPOSED MAXIMUM
TITLE OF SECURITIES       AMOUNT TO BE     OFFERING PRICE PER    AGGREGATE OFFERING     AMOUNT OF
TO BE REGISTERED          REGISTERED       SHARE (1)             PRICE                  REGISTRATION FEE
------------------------- ---------------- --------------------- ---------------------- --------------------
Common Stock
$.01 par value..........  1,400,000        $45.21                $63,294,000            $15,823.50
                          shares (2)
========================= ================ ===================== ====================== ====================
(1)
Estimated solely for purposes of calculating the registration fee pursuant to
Rule 457(c) on the basis of the closing price for a share of Common Stock of
Registrant as reported on the New York Stock Exchange.
(2)
There are also being registered hereunder such additional shares as may be
issued pursuant to the anti-dilution provisions of the plan.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Note:
The documents containing the information specified in this Part I will be
sent or given to employees as specified by Rule 428(b)(1) promulgated under the
Securities Act of 1933, as amended (the "Act"). Such documents need not be filed
with the Securities and Exchange Commission (the "Commission") either as part of
this Registration Statement or as prospectuses or prospectus supplements
pursuant to Rule 424 under the Act. These documents and the documents
incorporated by reference in the Registration Statement pursuant to Item 3 of
Part II of this Form S-8, taken together, constitute a prospectus that meets the
requirements of Section 10(a) of the Act. See Rule 428(a)(1) under the Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The
following documents heretofore filed by the Registrant with the Securities and
Exchange Commission (the "Commission") are incorporated herein by
reference:
(a)
     The Registrant's Annual Report on Form 10-K for
the year ended December 31, 2000;
(b)
     The Registrant's Quarterly Report on Form 10-Q for
the quarter ended March 31, 2001;
(c)
     Item 1 of the Registrant's Registration Statement
on Form 8-A, as amended, filed September 8, 1993 to register the Registrant's
Common Stock, par value $.01 per share (the "Common Stock"), pursuant to Section
12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange
Act").
All
documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d)
of the Exchange Act after the date of this Registration Statement and prior to
the filing of a post-effective amendment to this Registration Statement which
indicates that all securities offered hereby have been sold or which deregisters
all securities then remaining unsold, shall be deemed to be incorporated by
reference in this Registration Statement and to be part hereof from the date of
filing of such documents.
Item 4. Description of Securities.
Not
applicable.
Item 5.  Interests of Named Experts and Counsel.
Not
applicable.
Item 6. Indemnification of Directors and Officers.
The
Articles of Incorporation and By-laws of the Registrant provide for the
Registrant to indemnify its officers, directors and employees to the fullest
extent permitted by the Maryland General Corporation Law against certain
liabilities and expenses.
Item 7. Exemption from Registration Claimed.
Not
applicable.
Item 8. Exhibits.
Exhibit
Number
5
-
Opinion of Stroock & Stroock & Lavan LLP.
23(a)
-
Consent of Stroock & Stroock & Lavan LLP. Included in
Exhibit 5 to this Registration Statement.
23(b)
-
Consent of Ernst & Young LLP.
24
-
Power of Attorney (included on signature page).
Item 9.  Undertakings.
The
undersigned Registrant hereby undertakes:
(1)
   To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:
(i)   To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933;
(ii)   To reflect in the prospectus
any facts or events arising after the effective date of the Registration
Statement (or the most recent post- effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the
information set forth in the Registration Statement;
(iii)   To include any material
information with respect to the plan of distribution not previously disclosed in
the Registration Statement or any material change to such information in the
Registration Statement.
Provided,
however, that paragraphs (1)(i) and (1)(ii) do not apply if the registration
Statement is on Form S-3 or Form S-8 and the information required to be included
in a post-effective amendment by those paragraphs is contained in periodic
reports filed by the Registrant pursuant to Section 13 or Section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in the
Registration Statement.
(2)
   That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to be
a new Registration Statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial
bona
fide
offering thereof.
(3)
   To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.
(4)
   If the Registrant is a foreign private issuer, to file a
post-effective amendment to the Registration Statement to include any financial
statements required by Rule 3-19 of Regulation S-X at the start of any delayed
offering or throughout a continuous offering.
The
undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the Registrant's
annual report pursuant to Section 13(a) or Section 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to Section 15(d) of the Securities Exchange
Act of 1934) that is incorporated by reference in the Registration Statement
shall be deemed to be a new Registration Statement relating to the securities
offered therein, and the offering of such securities at that time shall be
deemed to be the initial
bona fide
offering thereof.
Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers and controlling persons of the Registrant
pursuant to the foregoing provisions, or otherwise, the Registrant has been
advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act of
1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities
Act of 1933 and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that
it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of
Roseland, State of New Jersey, on the 7th of June, 2001.
CHELSEA PROPERTY GROUP, INC.
(Registrant)
By:
/s/ David C. Bloom
David C. Bloom
Chairman of the Board and
Chief Executive Officer
POWER OF ATTORNEY
Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement
has been signed by the following persons in the capacities and on the dates
indicated. Each person whose signature appears below hereby authorizes David C.
Bloom, Leslie T. Chao, Michael J. Clarke and Denise M. Elmer, and each of them
acting individually, with full power of substitution to file one or more
amendments, including Post-Effective Amendments, to this Registration Statement,
which Amendments may make such changes as any of them deems appropriate, and
each person whose signature appears below, individually and in each capacity
stated below, hereby appoints David C. Bloom, Leslie T. Chao, Michael J. Clarke
and Denise M. Elmer, and each of them acting individually, with full power of
substitution, as Attorney-in-Fact to execute his name and on his behalf to file
any such Amendments to this Registration Statement.
Signature
Title
Date
/s/ David C. Bloom
David C. Bloom
Chairman of the Board and Chief
Executive Officer (Prinicpal Executive
Officer)
June 7, 2001
/s/ Michael J. Clarke
Michael J. Clarke
Senior Vice President and Chief Financial
Officer (Principal Financial and Accounting
Officer)
June 7, 2001
/s/ William D. Bloom
William D. Bloom
Director
June 7, 2001
/s/ Brendan T. Byrne
Brendan T. Byrne
Director
June 7, 2001
/s/ Robert Frommer
Robert Frommer
Director
June 7, 2001
/s/ Barry M. Ginsburg
Barry M. Ginsburg
Director
June 7, 2001
/s/ Philip D. Kaltenbacher
Philip D. Kaltenbacher
Director
June 7, 2001
/s/ Reuben S. Leibowitz
Reuben S. Leibowitz
Director
June 7, 2001
EXHIBIT INDEX
Exhibit
Number
Description
Page Number
5
Opinion of Stroock & Stroock & Lavan LLP.
23(a)
Consent of Stroock & Stroock & Lavan LLP.
Included in Exhibit 5 to this Registration Statement
23(b)
Consent of Ernst & Young LLP.
24
Power of Attorney (included on signature page).