July 30, 2002 - 424B3: Prospectus [Rule 424(b)(3)] | Kimco Realty Corporation (KIM)

PRICING SUPPLEMENT NO. 1 DATED July 24, 2002 Rule 424(b)(3)
(To Prospectus and Prospectus Supplement Dated September 26, 2001) File No. 333-59970

$85,000,000
Kimco Realty Corporation
Series C Medium-Term Notes
Due Nine Months or More from Date of Issue

Floating Rate Notes

Trade Date: July 24, 2002
Issue Price: 100%
Book Entry: /X/ Certificated: / /
Agent's Discount or Commission: $212,500
Net Proceeds to Issuer: $84,787,500

Original Issue Date: August 1, 2002
Stated Maturity Date: August 2, 2004

Specified Currency: /X/ United States dollars / / Other:
Base Rate: / / Commercial Paper Rate /X/ LIBOR / / Certificate of
/ / Treasury Rate / / Federal Funds Rate Deposit Rate
/ / CMT Rate / / 11th District Cost / / Prime Rate
of Funds Rate / / Other

Authorized Denomination: /X/ $1,000 and integral multiples thereof / / Other:
Minimum Denomination: /X/ $1,000 / / Other:
Exchange Rate Agent: N/A
Initial Interest Rate: Determined as described below.
Interest Reset Dates: Original Issue Date and each February 2, May 2,
August 2 and November 2 thereafter.
Interest Payment Dates: The 2nd day of each February, May, August and
November, commencing November 2, 2002.
Index Maturity: 3 months
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A
Spread: plus 50 basis points (+ .50%)
Spread Multiplier: N/A

Calculation Agent: The Bank of New York

Redemption: /X/ The Notes cannot be redeemed prior to maturity.
/ / The Notes may be redeemed prior to maturity, as
follows:
Initial Redemption Date:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction:

Repayment: /X/ The Notes cannot be repaid prior to maturity.
/ / The Notes may be repaid prior to maturity, as follows:
Optional Repayment Dates:

Additional/Other Terms: None

Addendum Attached: / / Yes /X/ No

Agent: /X/ Merrill Lynch & Co., as principal ($75,000,000)
/ / Banc of America Securities LLC
/X/ Banc One Capital Markets, Inc. ($10,000,000)
/ / JPMorgan
/ / Morgan Stanley
/ / Goldman, Sachs & Co.
/ / Credit Suisse First Boston

Revolving Credit Facilities

As of July 29, 2002, the Company had drawn $220.0 million on its existing
$250.0 million revolving credit facility. In addition, on July 30, 2002, the
Company signed a $150.0 million revolving credit agreement which expires on
January 30, 2003.