FORM T-1

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

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FORM T-1

STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE

CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2) / /

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IBJ SCHRODER BANK & TRUST COMPANY
(Exact name of trustee as specified in its charter)

New York 13-5375195
(Jurisdiction of incorporation (I.R.S. employer
or organization if not a identification No.)
U.S. national bank)

One State Street, New York, New York 10004
(Address of principal executive offices) (Zip Code)

STEPHEN GIURLANDO, ASSISTANT VICE PRESIDENT
IBJ SCHRODER BANK & TRUST COMPANY
One State Street
New York, New York 10004
(212) 858-2000
(Name, address and telephone number of agent for service)

Kimco Realty Corporation
(Exact names of obligor as specified in its charter)

Maryland 13-2744380
(State or other jurisdiction of (I.R.S. employer identification No.)
incorporation or organization)

3333 New Hyde Park Road, Suite 100
New Hyde Park, N.Y. 11042 11576
(Address of principal executive offices) (Zip Code)

Debt Securities
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(Title of indenture securities)


Item 1. General information

Furnish the following information as to the trustee:

(a) Name and address of each examining or supervising
authority to which it is subject.

New York State Banking
Department
Two Rector Street
New York, New York

Federal Deposit Insurance
Corporation
Washington, D.C.

Federal Reserve Bank of New York
Second District
33 Liberty Street
New York, New York

(b) Whether it is authorized to exercise corporate
trust powers.

Yes

Item 2. Affiliations with the Obligor.

If the obligor is an affiliate of the trustee, describe
each such affiliation.

The obligor is not an affiliate of the trustee.

Item 13. Defaults by the Obligor.

(a) State whether there is or has been a default with
respect to the securities under this indenture.
Explain the nature of any such default.

None

2


(b) If the trustee is a trustee under another indenture under
which any other securities, or certificates of interest or
participation in any other securities, of the obligors are
outstanding, or is trustee for more than one outstanding
series of securities under the indenture, state whether there
has been a default under any such indenture or series,
identify the indenture or series affected. and explain the
nature of any such default.

None

Item 16. List of exhibits.

List below all exhibits filed as part of this statement of
eligibility.

*1 A copy of the Charter of IBJ Schroder Bank & Trust Company as
amended to date. (See Exhibit 1A to Form T-1, Securities and
Exchange Commission File No. 22-18460).

*2 A copy of the Certificate of Authority of the trustee to
Commence Business (Included in Exhibit 1 above).

*3 A copy of the Authorization of the trustee to exercise
corporate trust powers, as amended to date (See Exhibit 4 to
Form T-1, Securities and Exchange Commission File No.
22-19146).

*4 A copy of the existing By-Laws of the trustee, as amended to
date (See Exhibit 4 to Form T-1, Securities and Exchange
Commission File No 22-19146).

5 Not Applicable

6 The consent of United States institutional trustee required
by Section 321(b) of the Act.

7. A copy of the latest report of condition of the trustee
published pursuant to law or the requirements of its
supervising or examining authority.

* The Exhibits thus designated are incorporated herein by reference as
exhibits hereto. Following the description of such Exhibits is a
reference to the copy of the Exhibit heretofore filed with the
Securities and Exchange Commission, to which there have been no
amendments or changes.

3


NOTE
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In answering any item in this Statement of Eligibility which relates to
matters peculiarly within the knowledge of the obligor and its directors
or officers, the trustee has relied upon information furnished to it by
the obligor.

Inasmuch as this Form T-1 is filed prior to the ascertainment by the
trustee of all facts on which to base responsive answers to Item 2, the
answer to said Item is based on incomplete information.

Item 2, may, however, be considered as correct unless amended by an
amendment to this Form T-1.

Pursuant to General Instruction B, the trustee has responded to Items 1,
2 and 16 of this form since to the best knowledge of the trustee as
indicated in Item 13, the obligor is not in default under any indenture
under which the applicant is trustee.

4


SIGNATURE
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Pursuant to the requirements of the Trust Indenture Act of 1939,
the trustee, IBJ Schroder Bank & Trust Company, a corporation organized and
existing under the laws of the State of New York, has duly caused this
statement of eligibility & qualification to be signed on its behalf by the
undersigned, thereunto duly authorized, all in the City of New York, and State
of New York, on the 13th day of August, 1998.

IBJ SCHRODER BANK & TRUST COMPANY



By: /s/Stephen Giurlando
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Stephen Giurlando
Assistant Vice President


Exhibit 6

CONSENT OF TRUSTEE


Pursuant to the requirements of Section 321(b) of the Trust
Indenture Act of 1939, as amended, in connection with one or more issuance by
Kimco Realty Corporation of its Debt Securities, we hereby consent that
reports of examinations by Federal, State, Territorial, or District
authorities may be furnished by such authorities to the Securities and
Exchange Commission upon request therefor.

IBJ SCHRODER BANK & TRUST COMPANY


By: /s/Stephen Giurlando
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Stephen Giurlando
Assistant Vice President

Dated: August 31, 1998