UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): June, 22, 2007

P & F INDUSTRIES, INC.

(Exact Name of Registrant as Specified in Charter)

Delaware	1-5332	22-1657413
(State or Other Jurisdiction	(Commission File No.)	(IRS Employer
of Incorporation)	Identification Number)

445 Broadhollow Road, Suite 100, Melville, New York 11747

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (631) 694-9800

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))

o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.

Other Events.

On June 22, 2007, P & F Industries, Inc. issued a press release (the “Press Release”) announcing that its wholly-owned subsidiary, Embassy Industries, Inc., completed the sale of its Farmingdale, New York property on June 21, 2007 to Tell Realty LLC, an affiliated entity of Sam Tell & Son, Inc., for a purchase price of $6.3 million. A copy of the Press Release is attached as Exhibit 99.1 hereto, and is incorporated herein by reference.

Item 9.01.

Financial Statements and Exhibits.

(d)	Exhibits:

	99.1	Press Release, dated June 22, 2007, issued by P & F Industries, Inc.

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 hereunto duly authorized.

	P & F INDUSTRIES, INC.

Date: June 22, 2007

	By:	/s/ Joseph A. Molino, Jr.
		Joseph A. Molino, Jr.
		Vice President,
		Chief Operating Officer and
		Chief Financial Officer

EXHIBIT 99.1

P&F INDUSTRIES COMPLETES SALE OF BUILDING

MELVILLE, N.Y., June 22, 2007 - P&F Industries, Inc. (Nasdaq GM: PFIN) today announced that its wholly-owned subsidiary, Embassy Industries, Inc., completed the sale of its Farmingdale, NY property yesterday. The property was purchased by Tell Realty LLC, an affiliated entity of Sam Tell & Son, Inc., for a purchase price of $6.3 million. The Company has satisfied its mortgage on the building of approximately $1.2 million and intends to use the net after-tax proceeds from this sale to reduce its long-term debt. The Company expects to report a pre-tax gain from the sale of the building of approximately $5.0 million.

Richard Horowitz, Chairman, President and Chief Executive Officer of P&F, commented, “We are pleased to have profitably disposed of Embassy’s remaining operating asset and have strengthened the Company’s balance sheet through the reduction of debt.”

P&F Industries, Inc., through its three wholly-owned operating subsidiaries, Florida Pneumatic Manufacturing Corporation, Continental Tool Group, Inc. and Countrywide Hardware, Inc., manufactures and/or imports air-powered tools sold principally to the industrial, retail and automotive markets, and various residential hardware such as staircase components, kitchen and bath hardware, fencing hardware and door and window hardware. P&F’s products are sold under their own trademarks, as well as under the private labels of major manufacturers and retailers.

This is a Safe-Harbor Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those related to the Company’s future performance, and those contained in the comments of management, are based upon the Company’s historical performance and on current plans, estimates and expectations, which are subject to various risks and uncertainties, including, but not limited to, the impact of competition, product demand and pricing, and those described in the reports and statements filed by the Company with the Securities and Exchange Commission, including, among others, those described in the Company’s Annual Report on Form 10-K. These risks could cause the Company’s actual results for the 2007 fiscal year and beyond to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

P&F Industries, Inc.		Lippert/Heilshorn & Associates, Inc.
Joseph A. Molino, Jr.		Jody Burfening
Chief Financial Officer		Investor Relations
631-694-9800		212-838-3777
www.pfina.com		jburfening@lhai.com

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