THE PRICE REIT PROXY CARD

EXHIBIT 99.2


PROXY
THE PRICE REIT, INC.
7979 IVANHOE AVE., SUITE 524
LA JOLLA, CA 92037
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE PRICE REIT,
INC.
FOR THE SPECIAL MEETING OF STOCKHOLDERS TO BE HELD ON JUNE 19, 1998
The undersigned stockholder of The Price REIT, Inc., a Maryland corporation
('Price REIT'), hereby appoints Joseph K. Kornwasser and Raymond E. Peet (the
'Proxies'), or either of them, each with the power of substitution, as proxies
for the undersigned, to attend the Special Meeting of Stockholders of Price
REIT, to be held at 10:00 a.m., Pacific time, on June 19, 1998 at the Town and
Country Resort Hotel, Regency Hall, 500 Hotel Circle North, San Diego,
California (the 'Price REIT Special Meeting') and at any adjournments or
postponements thereof, to cast on behalf of the undersigned all votes that the
undersigned is entitled to cast at such meeting and otherwise to represent the
undersigned at the meeting with all powers possessed by the undersigned as if
personally present at the meeting. The undersigned hereby acknowledges receipt
of the Notice of the Price REIT Special Meeting and of the Joint Proxy
Statement/Prospectus of Price REIT and Kimco Realty Corporation, dated May 14,
1998 (the 'Joint Proxy Statement/Prospectus') and revokes any proxy heretofore
given with respect to such meeting.

1. Approval of the Merger of Price REIT with and into REIT Sub, Inc., a
Maryland corporation and a wholly owned subsidiary of Kimco Realty
Corporation (the 'Merger'), as more fully described in the Joint Proxy
Statement/Prospectus and the consummation of the transactions contemplated
thereby.

2. Consider and vote upon the postponement or adjournment of the Price
REIT Special Meeting in order to solicit additional votes for the Merger
(the 'Price REIT Adjournment Proposal') if the Chairman of the Price REIT
Special Meeting determines that there are not sufficient votes to approve
the Merger.

SEE REVERSE SIDE: If you wish to vote in accordance with the Board of
Directors' recommendations, just sign and date on the reverse side. You need not
mark any boxes. IF THIS PROXY IS EXECUTED AND RETURNED PRIOR TO THE PRICE REIT
SPECIAL MEETING BUT NO DIRECTION IS GIVEN, THE VOTES WILL BE CAST 'FOR' THE
APPROVAL OF THE MERGER AND THE TRANSACTIONS CONTEMPLATED THEREBY AND 'FOR' THE
PRICE REIT ADJOURNMENT PROPOSAL.