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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 WVCdai5UxTmvpSOHsqFRw+lH4EmzBHTdL5BBBeZfkiDoYOgjT/wOXRoV+bLWPnzy
 bb16/3WvCEf6LGjxQcpzSA==

<SEC-DOCUMENT>0001209191-09-018469.txt : 20090326
<SEC-HEADER>0001209191-09-018469.hdr.sgml : 20090326
<ACCEPTANCE-DATETIME>20090326154127
ACCESSION NUMBER:		0001209191-09-018469
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090316
FILED AS OF DATE:		20090326
DATE AS OF CHANGE:		20090326

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Bianco Alessandra F
		CENTRAL INDEX KEY:			0001459343

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07265
		FILM NUMBER:		09706622

	MAIL ADDRESS:	
		STREET 1:		C/O BARRY STRAUSS & ASSOCIATES
		STREET 2:		307 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMBASE CORP
		CENTRAL INDEX KEY:			0000020639
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATORS OF NONRESIDENTIAL BUILDINGS [6512]
		IRS NUMBER:				952962743
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		100 PUTNAM GREEN
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830
		BUSINESS PHONE:		2035322000

	MAIL ADDRESS:	
		STREET 1:		100 PUTNAM GREEN
		STREET 2:		3RD FLOOR
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HOME GROUP INC
		DATE OF NAME CHANGE:	19890608

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CITYHOME CORP
		DATE OF NAME CHANGE:	19780917
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>c83120_3x0.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2009-03-16</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000020639</issuerCik>
        <issuerName>AMBASE CORP</issuerName>
        <issuerTradingSymbol>ABCP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001459343</rptOwnerCik>
            <rptOwnerName>Bianco Alessandra F</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O BARRY STRAUSS &amp; ASSOCIATES</rptOwnerStreet1>
            <rptOwnerStreet2>307 FIFTH AVENUE</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10016</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5333333</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Through a 33% ownership interest in Barc Investments, LLC, a Connecticut limited liability company</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Represents the number of shares owned by Barc Investments, LLC, multiplied by the Reporting Person's percentage interest in Barc Investments, LLC.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Alessandra F. Bianco</signatureName>
        <signatureDate>2009-03-26</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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