UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 12b-25

                           NOTIFICATION OF LATE FILING


                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

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                                                                SEC FILE NUMBER
                                                                     1-10024
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                                                                  CUSIP NUMBER
                                                                    05548G102
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(Check One):   [X] Form 10-K    [_] Form 20-F    [_] Form 11-K    [_] Form 10-Q
               [_] Form N-SAR   [_] Form N-CSR

         For Period Ended:      DECEMBER 31, 2004
                          ------------------------------------------------------

                  [_]      Transition Report on Form 10-K

                  [_]      Transition Report on Form 20-F

                  [_]      Transition Report on Form 11-K

                  [_]      Transition Report on Form 10-Q

                  [_]      Transition Report on Form N-SAR

         For the Transition Period Ended: ______________________________________


NOTHING IN THIS FORM SHALL BE CONSTRUED TO IMPLY THAT THE COMMISSION HAS
VERIFIED ANY INFORMATION CONTAINED HEREIN.

If the notification relates to a portion of the filing checked above, identify
the item(s) to which the notification relates:__________________________________

PART I - REGISTRANT INFORMATION



PART I - REGISTRANT INFORMATION

BKF CAPITAL GROUP, INC.
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Full Name of Registrant


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Former Name if Applicable

ONE ROCKEFELLER PLAZA
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Address of Principal Executive Office (Street and Number)

NEW YORK, NEW YORK 10020
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City, State and Zip Code

PART II - RULES 12B-25(B) AND (C)

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)


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         [X]      (a)      The reasons described in reasonable detail in
                           Part III of this form could not be eliminated without
                           unreasonable effort or expense;

         [X]      (b)      The subject annual report, semi-annual report,
                           transition report on Form 10-K, Form 20-F, Form 11-K,
                           Form N-SAR or Form N-CSR, or portion thereof, will be
                           filed on or before the 15th calendar day following
                           the prescribed due date; or the subject quarterly
                           report or transition report on Form 10-Q, or portion
                           thereof, will be filed on or before the fifth
                           calendar day following the prescribed due date; and

         [_]      (c)      The accountant's statement or other exhibit
                           required by Rule 12b-25(c) has been attached if
                           applicable.

PART III - NARRATIVE

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, N-CSR
or the transition report or portion thereof, could not be filed within the
prescribed time period. (Attach Extra Sheets if Needed)

The Annual Report on Form 10-K (the "Form 10-K") of BKF Capital Group, Inc. (the
"Company") for the Company's fiscal year ended December 31, 2004 was filed on
March 17, 2005. It could not be filed within the prescribed time period because
of the time required to complete the report.

PART IV - OTHER INFORMATION

(1)      Name and telephone number of person to contact in regard to this
         notification.

-------------------------------------------------------------------------------
         Glenn A. Aigen               212                332-8400
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            (Name)                (Area Code)       (Telephone Number)
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(2)      Have all other periodic reports required under Section 13 or 15(d) of
         the Securities Exchange Act of 1934 or Section 30 of the Investment
         Company Act of 1940 during the preceding 12 months or for such shorter
         period that the registrant was required to file such report(s) been
         filed? If answer is no, identify report(s).

                                                  [X]  Yes     [_]  No

(3)      Is it anticipated that any significant change in results of operations
         from the corresponding period for the last fiscal year will be
         reflected by the earnings statements to be included in the subject
         report or portion thereof?

                                                  [X]  Yes     [_]  No

         Reference is made to the Company's Annual Report on Form 10-K filed on
         March 17, 2005.


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                             BKF Capital Group, Inc.
                   ------------------------------------------
                  (Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

Date   March 17, 2005                     By /s/ Glenn A. Aigen
     ------------------                      ---------------------------
                                             Name:   Glenn A. Aigen
                                             Title:  Senior Vice President and
                                                     Chief Financial Officer

INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.

                                    ATTENTION

   INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL
                        VIOLATIONS (SEE 18 U.S.C. 1001).