CORRESP: Correspondence

November 4, 2005



United States Securities and Exchange Commission
Washington, D. C. 20549
Attn: Mr. Steven Jacobs
Branch Chief

Re: Kimco Realty Corporation (the "Company")
Form 10-K for the year ended December 31, 2004
File No. 1-10899

Dear Mr. Jacobs:

In reply to your letter dated October 24, 2005, on the above-mentioned File
Number, please find our responses to your comments:


FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2004

Financial Statements

Consolidated Statements of Income, page 56

1. In future filings, please revise your statements of income for
consistency with Rule 5-03 of Regulation S-X. Your revisions should
include, but not be limited to, a change in the location of the
captions "Adjustment of property carrying values" and "General and
Administrative Expenses". These captions currently appear to be placed
below non-operating income and should be moved above non-operating
income in accordance with the rule.

Response

As requested, in future filings beginning with the Company's September
30, 2005 Quarterly Report on Form 10-Q, the Company, in accordance with
Rule 5-03 of Regulation S-X, will revise the face of its statements of
income to present Adjustment of property carrying values and General
and administrative expenses in a location above non-operating income
and present Income from other real estate investments after Provision
for income taxes, as these investments are primarily accounted for
under the equity method of accounting.



Summary of Significant Accounting Policies

Revenue Recognition and Accounts Receivable, page 62

2. We note your policy on recognition of revenue from real estate rentals.
In a separate policy note, distinct from Accounts Receivable, please
describe in detail your revenue recognition policies for each of your
material revenue streams including mortgage financing, other real
estate investments, property management services, etc. Additionally,
disclose your revenue recognition policies related to the sale of
development and operating properties.


Response

To enhance disclosure of the Company's revenue recognition policies
relating to mortgage financing, other real estate investments, property
management services and sales of development and operating properties,
the Company will provide the following disclosures within Footnote 1 of
the Company's Annual Report on Form 10-K for the year ended December
31, 2005.

Mortgage and other financing receivables

Mortgages and other financing receivables consist of loans purchased
and loans originated by the Company. Loan receivables are recorded at
stated principal amounts net of any discount or premium or deferred
loan origination costs or fees. The related discounts or premiums on
mortgages and other loans purchased are amortized or accreted over the
life of the related loan receivable. The Company defers certain loan
origination and commitment fees, net of certain origination costs, and
amortizes them as an adjustment of the loan's yield over the term of
the related loan. The Company evaluates the collectibility of both
interest and principal of each of its loans to determine whether it is
impaired. A loan is considered to be impaired, when based upon current
information and events, it is probable that the Company will be unable
to collect all amounts due according to the existing contractual terms.
When a loan is considered to be impaired, the amount of loss is
calculated by comparing the recorded investment to the value determined
by discounting the expected future cash flows at the loan's effective
interest rate or to the value of the underlying collateral if the loan
is collateralized. Interest income on performing loans is accrued as
earned. Interest income on impaired loans is recognized on a cash
basis.

Other real estate investments

Other real estate investments primarily consist of Preferred equity
investments for which the Company provides capital to developers and
owners of real estate. The Company accounts for its Preferred equity
investments on the equity method of accounting, whereby earnings for
each investment are recognized in accordance with each respective
investment agreement and based upon an allocation of the investment's
net assets at book value as if the investment was hypothetically
liquidated at the end of each reporting period.



Property management services

Management and other fee income consist of property management fees,
leasing fees, property acquisition and disposition fees, development
fees and asset management fees. These fees arise from contractual
agreements with third parties or with entities in which the Company has
a partial non-controlling interest. Fee income is recognized as earned
under the respective agreements. Acquisition and disposition fees are
recognized when the respective transactions are closed. Fee income
related to partially owned entities is recognized to the extent
attributable to the unaffiliated interest.

Property sales

Gains and losses from the sale of depreciated operating property and
ground-up development projects are generally recognized using the full
accrual method in accordance with Statement of Financial Accounting
Standards No. 66, Accounting for Sales of Real Estate, ("SFAS No. 66"),
provided that various criteria relating to the terms of sale and
subsequent involvement by the Company with the properties are met.

Gains and losses on transfers of operating properties result from the
sale of partial interests in properties to unconsolidated joint
ventures and are recognized using the partial sale provisions of SFAS
No. 66.

The Company acknowledges that:
o the Company is responsible for the adequacy and accuracy of the
disclosure in the filing;
o staff comments or changes to disclosure in response to staff comments
do not foreclose the Commission from taking any action with respect to
the filing; and
o the Company may not assert staff comments as a defense in any
proceeding initiated by the Commission or any person under the federal
securities laws of the United Sates.

Should you have any questions or require further clarification with regard to
our responses, please feel free to contact me directly at (516) 869-7185.


Very truly yours,

/s/ Michael V. Pappagallo
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Michael V. Pappagallo
Chief Financial Officer