Exhibit 99.1
Presidential Realty Corporation                                 NEWS
180 South Broadway
White Plains, N.Y. 10605         (914) 948-1300

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                                                    FOR IMMEDIATE RELEASE
                                                    White Plains, New York
                                                    July 15, 2008

Jeffrey Joseph, President of Presidential Realty Corporation (the "Company"), a
real estate investment trust whose shares are traded on the American Stock
Exchange (PDLA and PDLB), announced today that the Company had completed the
purchase in a private transaction of 17,000 shares of its Class A Common Stock
and 200,000 shares of its Class B Common Stock from Charles Frischer for a
purchase price of $1,193,500 ($5.50 per share). The closing price on the
American Stock Exchange on the last trading day before July 14, 2008, the day on
which the Agreement to sell the shares was executed, was $5.10 per share for the
Company's Class A and $5.05 per share for the Company's Class B shares. The
average closing price for the Company's Class B shares on the American Stock
Exchange over the thirty days prior to July 14, 2008 was $5.64. Mr. Joseph
reported that the Board of Directors of the Company believes that the purchase
of a large block of the Company's shares at the agreed upon purchase price is an
appropriate use of the Company's cash available for investment and in the best
interest of all of the shareholders of the Company.

Mr. Joseph reported that within the past thirty days, the Company had also
purchased 1,000 shares of its Class A Common Stock and 7,000 shares of its Class
B Common Stock from a shareholder at a purchase price at or about the then
current market price.

Mr. Joseph also reported that the Company had received repayment in full of its
$3,875,000 Note from an affiliate of David Lichtenstein, which Note was secured
by subordinate security interests in various apartment properties owned by Mr.
Lichtenstein. The Company had received a principal repayment of $1,079,000 on
June 3, 2008 and the balance was repaid on July 11, 2008.

Certain statements in this release that are not historical fact may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements are based on management's
current expectations and beliefs and are subject to a number of factors and
uncertainties that could cause actual results to differ materially from those
described in the forward-looking statements. The following factors, among
others, could cause actual results to differ materially from those described in
the forward-looking statements: trends and uncertainties in the general economic
climate; the supply of and demand for residential, mall and other commercial
properties; interest rate levels; the availability of financing and other risks
associated with the development, acquisition, ownership and operation of
properties. Additional factors that could cause Presidential's results to differ
materially from those described in the forward-looking statements can be found
in the 2007 Annual Report on Form 10-KSB. The Company expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any changes in the
Company's expectations with regard thereto or change in events, conditions or
circumstances on which any such statement is based.

For further information contact:
Jeffrey F. Joseph, President
Presidential Realty Corporation
at the above address and telephone number