SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C. 20549
                         ______________________

                                SCHEDULE 13D/A
                                (Rule 13d-101)
          INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
          13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)

                              (Amendment No. 2)*

                  Lexington Corporate Properties, Inc.
                            (Name of Issuer)

                             Common Stock
                     (Title of Class of Securities)

                               529039109  
                             (CUSIP Number)

                           Mr. Matthew W. Kaplan       
                           Rothschild Realty Inc.
                         1251 Avenue of the Americas
                          New York, New York 10020
                             (212) 403-3500
              (Name, address and telephone number of person
             authorized to receive notices and communications)

                             December 31, 1997
         (Date of event which requires filing of this statement)
                         ______________________

If the filing person has previously filed a statement on Schedule 13G to 
report the acquisition which is the subject of this Schedule 13D, and is 
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following 
box  [ ].


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