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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 GsBT+0EvjCyzyJTpbXXE8dnaRTaADwO2G0f319gDbjvriNi9f2zlRQHMxZuGsiVM
 sUbMZwJr1sVML/b0kC/TLA==

<SEC-DOCUMENT>0000950138-06-000062.txt : 20060131
<SEC-HEADER>0000950138-06-000062.hdr.sgml : 20060131
<ACCEPTANCE-DATETIME>20060131185403
ACCESSION NUMBER:		0000950138-06-000062
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060124
FILED AS OF DATE:		20060131
DATE AS OF CHANGE:		20060131

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LOWENTHAL EDWARD
		CENTRAL INDEX KEY:			0001094734

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12917
		FILM NUMBER:		06567480

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		7348870200

	MAIL ADDRESS:	
		STREET 1:		OMEGA WORLDWIDE INC
		STREET 2:		900 VICTORS WAY STE 350
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48108

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WELLSFORD REAL PROPERTIES INC
		CENTRAL INDEX KEY:			0001038222
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				133926898
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		535 MADISON AVENUE
		STREET 2:		26TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2128383400

	MAIL ADDRESS:	
		STREET 1:		535 MADISON AVENUE
		STREET 2:		26TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>jan31lowenthal-4_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-01-24</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001038222</issuerCik>
        <issuerName>WELLSFORD REAL PROPERTIES INC</issuerName>
        <issuerTradingSymbol>WRP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001094734</rptOwnerCik>
            <rptOwnerName>LOWENTHAL EDWARD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O WELLSFORD REAL PROPERTIES, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>535 MADISON AVENUE</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares, par value $.02 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2006-01-24</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5519</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>5.66</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>132700</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">This transaction inadvertently arose from an attempted rollover transfer by the Reporting Person of all of the registrant's
 common shares and other assets held in the Reporting Person's 401(k) account.  Unbeknownst to the Reporting Person, this
 transfer inadvertently resulted in the liquidation of his ownership position in the registrant's common shares held in his
 401(k) account instead of an intended transfer in kind.</footnote>
        <footnote id="F2">The Reporting Person also indirectly owns 145 common shares, which are held in a separate account by his wife. The Reporting Person disclaims beneficial ownership of the 145 common shares owned by his wife, and this report shall not be deemed an admission  that the reporting person is the beneficial owner of such securities for purpose of Section 16 or any other purpose.</footnote>
    </footnotes>

    <remarks>***  Mark P. Cantaluppi was granted a power of attorney to sign all Form 4s and Form 5s on behalf of Edward Lowenthal for all
 derivative and non-derivative securities of Wellsford acquired, disposed of or beneficially owned by Mr. Lowenthal, so long
 as Mr. Lowenthal is a director of the Company.</remarks>

    <ownerSignature>
        <signatureName>/s/ Mark P. Cantaluppi, as Attorney-In-Fact ***</signatureName>
        <signatureDate>2006-01-31</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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