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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: December 3, 2001
(Date of earliest event reported)
INSIGNIA FINANCIAL GROUP, INC.
(Exact Name of Registrant as Specified in Its Charter)
DELAWARE COMMISSION FILE NUMBER 56-2084290
(State of Incorporation) (1-14373) (I.R.S. Employer
Identification No.)
200 PARK AVENUE, NEW YORK, NEW YORK 10166
(Address of Principal Executive Officers) (Zip Code)
(212) 984-8033
(Registrant's Telephone Number, Including Area Code)
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ITEM 5. OTHER EVENTS
On November 20, 2001, Insignia announced the sale of the Fresh Meadows
apartments for $270 million by a partnership in which the Company was a
substantial minority investor. Fresh Meadows, located in Queens, New York,
consists of 3,285 apartment units spanning 140-buildings and is one of the
largest residential housing complexes in Queens.
Insignia's will recognise a pre-tax gain of approximately $10 million ($6
million after-tax) in the fourth quarter of 2001 from its share of the sale.
Insignia Residential Group, the Company's New York based residential co-op and
condominium management unit, has managed Fresh Meadows since 1997 and will
assist in the management of the property under new ownership.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits - The following are furnished as exhibits to this report:
Exhibit No.
99.1 Press Release dated November 20, 2001.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this amendment to be signed on its behalf by the
undersigned, thereunto duly authorized.
INSIGNIA FINANCIAL GROUP, INC.
By:
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Adam B. Gilbert
Executive Vice President
DATE: December 3, 2001
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