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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  -------------

                                 SCHEDULE 13D/A

             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
            TO RULE 13D-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO
                                   RULE 13D-2

                               (AMENDMENT NO. 15)

                              ATLANTIC REALTY TRUST

                                (NAME OF ISSUER)

         COMMON SHARES OF BENEFICIAL INTEREST, PAR VALUE $.01 PER SHARE
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                         (Title of Class of Securities)


                                   048798-10-2
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                                 (CUSIP Number)

                                  MILTON COOPER
                            KIMCO REALTY CORPORATION
                             3333 NEW HYDE PARK ROAD
                          NEW HYDE PARK, NY 11042-0020
                                 (516) 869-9000
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                  (Name, Address and Telephone Number of Person
                Authorized to Receive Notices and Communications)


                                  JULY 11, 2005
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             (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(e), 13d-1(f) or 13d-1(g), check the following
box: / /.

                  (Continued on following pages)
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                        (Page 1 of 8 Pages)





CUSIP No. 048798-10-2                             Page 2 of 7 Pages

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1.      NAMES OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

         Kimco Realty Corporation

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2.      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP 
                                                                (a)     / /

                                                                (b)     / /
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3.      SEC USE ONLY

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4.      SOURCE OF FUNDS

        WC
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5.      CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED  
        PURSUANT TO ITEMS 2(d) OR 2(e)                                  / /

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6.      CITIZENSHIP OR PLACE OF ORGANIZATION

         Maryland
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 Number of      7.  SOLE VOTING POWER                                         
  Shares            355,498
            -------------------------------------------------------------------
Beneficially    8.  SHARED VOTING POWER                                      
 Owned By           962,289
            -------------------------------------------------------------------
   Each         9.  SOLE DISPOSITIVE POWER                                    
 Reporting          355,498
            -------------------------------------------------------------------
Person With     10. SHARED DISPOSITIVE POWER                                   
                    962,289
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11.     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
        1,317,787
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12.     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) 
        EXCLUDES CERTAIN SHARES                                         / /

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13.     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 37.0%

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14.     TYPE OF REPORTING PERSON REPORTING

        CO
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CUSIP No. 048798-10-2                             Page 3 of 7 Pages

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1.      NAMES OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

        Kimco Realty Services, Inc.

--------------------------------------------------------------------------------

2.      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP 
                                                                (a)     / /

                                                                (b)     / /
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3.      SEC USE ONLY

--------------------------------------------------------------------------------
4.      SOURCE OF FUNDS

        WC, AF
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5.      CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS 
        REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)                         / /

--------------------------------------------------------------------------------

6. CITIZENSHIP OR PLACE OF ORGANIZATION

      Delaware
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 Number of      7.  SOLE VOTING POWER                                        
  Shares            none
            --------------------------------------------------------------------
Beneficially    8.  SHARED VOTING POWER                                       
 Owned By           962,289
            --------------------------------------------------------------------
   Each         9.  SOLE DISPOSITIVE POWER                                   
 Reporting          none
            -------------------------------------------------------------------
Person With     10.  SHARED DISPOSITIVE POWER                                  
                     962,289
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11.     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
        962,289
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12.      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 
        CERTAIN SHARES                                                      / /

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13.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 27.0%

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14.     TYPE OF REPORTING PERSON REPORTING

        CO
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CUSIP No. 048798-10-2                             Page 4 of 7 Pages
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1.      NAMES OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

        Milton Cooper
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2.      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP 
                                                                (a)     / /

                                                                (b)     / /
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3.      SEC USE ONLY

--------------------------------------------------------------------------------
4.      SOURCE OF FUNDS

        OO
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5.      CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT 
        TO ITEMS 2(d) OR 2(e)

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6.      CITIZENSHIP OR PLACE OF ORGANIZATION

        United States
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 Number of      7.  SOLE VOTING POWER                                         
  Shares            29,824
            -------------------------------------------------------------------
Beneficially    8.  SHARED VOTING POWER                                       
 Owned By           3,127
            -------------------------------------------------------------------
   Each         9.  SOLE DISPOSITIVE POWER                                   
 Reporting          29,824
            -------------------------------------------------------------------
Person With     10. SHARED DISPOSITIVE POWER
                    3,127
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11.     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 
        PERSON 
        32,951
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12.     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 
        CERTAIN SHARES                                                  / /


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13.     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
        .9%

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14.     TYPE OF REPORTING PERSON REPORTING

        IN
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           This Amendment No. 15 amends and supplements the Schedule 13D filed
on May 24, 1996, and amended on July 3, 1996, by Kimco Realty Corporation, a
Maryland corporation ("Kimco"), and Milton Cooper and further amended on May 15,
1997, June 10, 1997, April 30, 1998, September 20, 1999, August 10, 2000, August
23, 2000, August 9, 2001, January 31, 2003, August 3, 2004, February 24, 2005,
March 28, 2005, May 13, 2005 and June 16, 2005 by Kimco, Milton Cooper and Kimco
Realty Services, Inc., a Delaware corporation ("Services") (as amended, the
"Schedule 13D"), relating to the common shares of beneficial interest, par value
$.01 per share (the "Shares"), of Atlantic Realty Trust, a Maryland corporation
(the "Company"). Unless otherwise indicated, all capitalized terms used herein
shall have the meanings given to them in the Schedule 13D, and unless amended or
supplemented hereby, all information previously filed remains in effect.

ITEM 4.  PURPOSE OF THE TRANSACTION

Item 4 is hereby amended to add the following:

           On July 11, 2005, Kimco and the Company entered into an amendment to
the Indemnification Agreement dated as of March 28, 2005 (as amended on May 12,
2005 and June 14, 2005, the "Indemnification Agreement"), pursuant to which the
Company agreed to extend the Exclusivity Period (as defined in the Schedule 13D)
until August 5, 2005.

           Kimco, Services and Milton Cooper each reserves the right, based on
all relevant factors, and in each case subject to the provisions of the
Standstill Agreement (as defined in the Schedule 13D), to acquire additional
Shares, to dispose of all or a portion of its holdings of Shares, to modify,
amend or rescind any proposals with respect to the Property (as defined in the
Schedule 13D)(including the Proposal (as defined in the Schedule 13D)), to make
any alternative proposals with respect to an acquisition of Shares or assets of
the Company, a merger, a reorganization or any other extra-ordinary transaction
involving the Company or its assets, or to change its intention with respect to
any or all of the matters referred to in this Item 4.


ITEM 6.  CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.

           The response to Item 4 is incorporated herein by reference.

ITEM 7.  MATERIALS TO BE FILED AS EXHIBITS.

           Exhibit 9.     Indemnification Agreement.







                             SIGNATURE

           After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this statement is true, complete and correct.



                                    KIMCO REALTY CORPORATION



                                    By: /s/ Milton Cooper
                                       ---------------------------------
                                       Name:   Milton Cooper
                                       Title:  Chairman and Chief
                                               Executive Officer

                                     KIMCO REALTY SERVICES, INC.


                                    By: /s/ Milton Cooper
                                       ---------------------------------
                                       Name:    Milton Cooper
                                       Title:   President


                                       /s/ Milton Cooper
                                    -------------------------------
                                               Milton Cooper
July 11, 2005






                           Exhibit Index


Exhibit 10  Amendment dated as of July 11, 2005, by and among Atlantic Realty
            Trust and Kimco Realty Corporation to the Indemnification Agreement,
            dated as of March 28, 2005.