-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, I4aS6ltqvZrg1MIjGDRDxn5KnsW2dDLK06p4GbnZNHzBWM5MuFhyPSIMOSuEzzHp yeVjJLArblmrmjBCb8nF8w== 0000014846-03-000004.txt : 20030402 0000014846-03-000004.hdr.sgml : 20030402 20030402155922 ACCESSION NUMBER: 0000014846-03-000004 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20030402 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ATLANTIC LIBERTY FINANCIAL CORP CENTRAL INDEX KEY: 0001172095 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 161615014 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-78719 FILM NUMBER: 03636865 MAIL ADDRESS: STREET 1: 186 MONTAGUE ST CITY: BROOKLYN STATE: NY ZIP: 11201 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BRT REALTY TRUST CENTRAL INDEX KEY: 0000014846 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 132755856 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 60 CUTTER MILL RD STREET 2: SUITE 303 CITY: GREAT NECK STATE: NY ZIP: 11021-3190 BUSINESS PHONE: 5164663100 FORMER COMPANY: FORMER CONFORMED NAME: BERG ENTERPRISES REALTY GROUP DATE OF NAME CHANGE: 19750724 SC 13D 1 brt13datlantic.txt Securities and Exchange Commission Washington, D.C. 20549 SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) Atlantic Liberty Financial Corp. -------------------------------- (Name of Issuer) Common Stock, $0.10 par value per share --------------------------------------- (Title of Class of Securities) 048668107 --------- (CUSIP Number) Simeon Brinberg, 60 Cutter Mill Road, Great Neck, New York 11021 516-466-3100 - ------------------------------------------------------------------------------ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 26, 2003 ----------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule l3G to report the acquisition that is the subject of this Schedule l3D, and is filing this schedule because of Rule l3d-l(e), 13d-1 (f) or 13d-1(g), check the following box / /. Page 1 of 19 Pages Page 2 of 19 Pages Cusip No. 048668107 - ----------------------------------------------------------------- l. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON BRT Realty Trust- 13-2755856 - ----------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)X (b) - ----------------------------------------------------------------- 3. SEC USE ONLY - ----------------------------------------------------------------- 4. SOURCE OF FUNDS* WC - ----------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - ----------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Massachusetts - ----------------------------------------------------------------- 7. SOLE VOTING POWER - 133,950 NUMBER OF --------------------------------- SHARES 8. SHARED VOTING POWER - - BENEFICIALLY --------------------------------- OWNED BY 9. SOLE DISPOSITIVE POWER -133,950 EACH ------------------------------------ REPORTING 10. SHARED DISPOSITIVE POWER - - PERSON WITH ------------------------------------ - ----------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 133,950 - -------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ----------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.83% - ----------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* OO Page 3 of 19 Pages Cusip No. 048668107 l. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SASS/GOULD FINANCIAL SECURITIES, LLC - 13-4118586 - ----------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)X (b) - ----------------------------------------------------------------- 3. SEC USE ONLY - ----------------------------------------------------------------- 4. SOURCE OF FUNDS* WC - ----------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) - ----------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ----------------------------------------------------------------- 7. SOLE VOTING POWER - 25,850 NUMBER OF --------------------------------------------- SHARES 8. SHARED VOTING POWER - - BENEFICIALLY --------------------------------------------- OWNED BY 9. SOLE DISPOSITIVE POWER - 25,850 EACH --------------------------------------------- REPORTING 10. SHARED DISPOSITIVE POWER - PERSON WITH --------------------------------------------- - ----------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 25,850 - ------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - --------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.51% - ----------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* OO Page 4 of 19 Pages Item 1. Security and Issuer. This statement relates to Common Stock, par value $0.10 per share ("Common Stock") of Atlantic Liberty Financial Corp., a corporation organized under the laws of the State of Delaware (the "Company"). The address of the principal executive offices of the Company is 186 Montague Street, Brooklyn, New York 11201. Item 2. Identity and Background (a) This statement is filed by the following: o BRT Realty Trust, a business trust organized under the laws of the Commonwealth of Massachusetts ("BRT"); o Sass/Gould Financial Securities, LLC, a limited liability company organized under the laws of the State of Delaware "Sass/Gould"). (b) The address of the principal business and principal office of BRT is 60 Cutter Mill Road, Suite 303, Great Neck, New York 11021. The address of the principal business and principal office of Sass/Gould is 1185 Avenue of the Americas, New York, New York 10036-2699. (c) BRT is a real estate investment trust. Its principal business is originating and holding for investment for its own account, senior and junior real estate mortgage loans secured by income producing real property. It also, from time to time, invests in the securities of publicly traded entities. Sass/Gould is a limited liability company whose business activity is to make investments in the securities of publicly traded bank holding companies, banks, savings and loan holding companies, thrifts and other financial institutions. Item 2 information with respect to the executive officers and Trustees of BRT is set forth on Attachment A, which is incorporated herein by reference. Item 2 information with respect to the managing members of Sass/Gould is set forth on Attachment B, which is incorporated herein by reference. Page 5 of 19 Pages (d)- (e)During the last five years neither BRT, nor any of the executive officers or Trustees of BRT has (i)been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws. During the last five years, neither Sass/Gould nor the managing member or executive officers or directors of the managing member of Sass/Gould or the sub-advisor to Sass/Gould or the sub-advisor's executive officers or directors has (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration o As of the date hereof BRT has purchased a total of 133,950 shares of Common Stock of the Company at an aggregate cost of $2,034,049. The funds used to make these purchases came from BRT's working capital. BRT maintains a $15,000,000 revolving credit facility with North Fork Bank ("Bank") which permits borrowings on a revolving basis. Any borrowings under the Revolving Credit Agreement must be secured by mortgage receivables or real property. No funds were drawn down under this Credit Agreement to purchase Common Stock of the Company. At the date hereof, $ zero is outstanding under this credit facility. BRT also maintains a margin account with Prudential Securities Incorporated. No funds were drawn down under the margin account to purchase Common Stock of the Company. At the date hereof, $ zero is outstanding under the margin account. o Sass/Gould has purchased a total of 25,850 shares of Common Stock of the Company at an aggregate cost of $387,806. The funds used to make these purchases came from Sass/Gould's working capital. Item 4. Purpose of the Transaction BRT and Sass/Gould acquired the shares of Common Stock of the Company as an investment. BRT and Sass/Gould, subject to availability at prices deemed favorable, subject to their continuing evaluation of the Company, and subject to compliance with rules and regulations applicable to thrift institutions and savings and loan holding companies, may purchase additional shares of Common Stock of the Company in the open market or in privately negotiated transactions. BRT and/or SASS/Gould in the future may determine to sell all or a portion of the shares of Common Stock owned by them. Page 6 of 19 Pages Except as described in this statement, neither BRT nor Sass/Gould, has any present plans or proposals that relate to or would result in: (a) the acquisition by any person of additional shares of Common Stock of the Company or the disposition of any shares Common Stock of the Company, (b) an extraordinary corporate transaction such as a merger, reorganization or liquidation involving the Company or any of its subsidiaries; (c) the sale or transfer of a material amount of the assets of the Company or any of its subsidiaries; (d) any change in the present board of directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any vacancies on the board; (e) any material change in the present capitalization or dividend policy of the Company; (f) any other material change in a Company's business or corporate structure; (g) changes in the Company's charter, by-laws or instruments corresponding thereto or other actions which may impede the acquisition or control of the Company by any persons; (h) causing a class of securities of the Company to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Company becoming eligible for termination of registration pursuant to Section 12 (g)(4) of the Securities Exchange Act of 1934; or (j) any action similar to any of those enumerated above. Item 5. Interest in Securities of the Issuer (a) BRT owns, as of this date, 133,950 shares of Common Stock of the Company, constituting approximately 7.83% of the 1,710,984 shares of Common Stock outstanding. Sass/Gould owns, as of this date, 25,850 shares of Common Stock of the Company, constituting approximately 1.51% of the shares of Common Stock outstanding. In the aggregate, BRT and Sass/Gould, who are filing as a group, own 159,800 shares of Common Stock in the aggregate, or 9.34% of the outstanding shares of Common Stock of the Company. (b) BRT has sole voting and dispositive power with respect to the shares of Common Stock it owns. Fredric H. Gould, Chairman of the Board of BRT, and Jeffrey Gould, President and Chief Executive Officer of BRT, each have shared voting and dispositive power with respect to the Common Shares owned by BRT. Page 7 of 19 Pages Sass/Gould has sole voting and dispositive power with respect to the Common Shares it owns. M.D. Sass Investors Services, Inc., managing member of SASS/Gould, GP Partners, Inc. sub-advisor to SASS/Gould, Martin D. Sass, Chairman and Chief Executive Officer and Hugh R. Lamle, President of M.D. Sass Investors Services, Inc., and Israel Rosenzweig, President and Chief Operating Officer of GP Partners, Inc. each have shared voting and dispositive power with respect to the shares of Common Stock owned by Sass/Gould. (c) The following table sets forth transactions in the shares of Common Stock of the Company effected by BRT sixty (60) days prior to the event requiring the filing of this statement. All shares were purchased in open market purchases. DATE OF # OF PRICE PURCHASE SHARES PER SHARE -------- ------ --------- 02/19/2003 500 14.218 02/20/2003 2,000 14.362 02/21/2003 1,950 14.455 02/24/2003 4,150 14.724 02/25/2003 6,750 14.997 02/26/2003 5,500 15.338 03/04/2003 5,000 15.761 03/05/2003 13,900 15.700 03/11/2003 1,000 15.785 03/12/2003 3,400 15.847 03/13/2003 1,800 15.848 03/14/2003 4,000 15.557 03/26/2003 6,000 15.331 03/26/2003 78,000 15.050 The following table sets forth the transactions in the Common Shares of the Company effected by Gould/Sass sixty (60) days prior to the event requiring the filing of this statement. All shares were purchased in open market purchase. DATE OF # OF PRICE PURCHASE SHARES PER SHARE -------- ------ --------- 02/19/2003 500 14.09 02/20/2003 2,000 14.30 02/21/2003 1,950 14.39 02/25/2003 4,150 14.66 02/28/2003 6,750 14.93 03/03/2003 5,500 15.27 03/07/2003 5,000 15.70 Page 8 of 19 Pages Except as set forth herein, BRT, its executive officers and trustees, and Sass/Gould, its managing member and officers and directors of its managing member (M.D. Sass Investor Services, Inc.) and its sub-advisor and officers and directors of its sub-advisor (GP Partners, Inc.,) (i) do not own or have the right to acquire, directly or indirectly, any shares of Common Stock of the Company; and (ii) have not in the past sixty (60) days effected any transactions in shares of Common Stock of the Company. (d) Not applicable (e) Not applicable Item 6. Contracts, Arrangements, Understandings or Relationships with respect to Securities of the Issuer There are no contracts, arrangements, understandings or relationships (legal or otherwise) among any of the persons listed in Item 2 and between such persons and any other person with respect to any securities of the Company, including but not limited to transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss or the giving or withholding of proxies. Item 7. Exhibit - Agreement to File Jointly. Page 9 of 19 Pages Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: April 2, 2003 BRT REALTY TRUST By s/David W. Kalish ----------------- David W. Kalish Senior Vice President SASS/GOULD FINANCIAL SECURITIES, LLC BY M.D. SASS INVESTORS SERVICES, INC. MANAGING MEMBER BY: s/Philip M. Sivin ----------------- Vice President Page 10 of 19 Pages ATTACHMENT A Item 2. Identity and Background of Officers and Trustees of BRT Principal Occupation Name Position and Address - ---- -------- -------------------- Fredric H. Gould Chairman of the Chairman of the Board of Board of Trustees BRT Realty Trust; President, sole stock- holder and sole director of REIT Management Corp., advisor to BRT Realty Trust; Chairman, sole stockholder and sole Director of Georgetown Partners, Inc. ("Georgetown"), the managing general partner of Gould Investors L.P.; Chairman of the Board of One Liberty Properties, Inc.; Real Estate Investor; all located at 60 Cutter Mill Road Great Neck, NY 11021 Jeffrey Gould President and President and Chief Chief Executive Executive Officer of Officer; Trustee BRT Realty Trust; Senior Vice President of One Liberty Properties, Inc.; Senior Vice President of Georgetown Partners, Inc.;Vice President of Majestic Property Management Corp.; all located at 60 Cutter Mill Road, Great Neck, NY 11021. Page 11 of 19 Pages Principal Occupation Name Position and Address - ---- -------- -------------------- Patrick J. Callan Trustee Real Estate Consultant; located at 280 Park Avenue, New York, NY 10017 David Herold Trustee Private Investor; located at 16 Southdown Court, Huntington, NY 11743 Arthur Hurand Trustee Private Investor; located at 4184 Pier North Blvd., Suite A, Flint, MI 48504 Gary Hurand Trustee President of Dawn Donut Systems, Inc.; located at 4184 Pier North Blvd., Suite A, Flint, MI 48504 Herbert C. Lust II Trustee Private Investor; located at 54 Porchuck Road, Greenwich, CT 06830 Matthew J. Gould Senior Vice President of President Georgetown Partners, Inc.; Senior Vice President of One Liberty Properties Inc.; Vice President of REIT Management Corp.; Vice President of BRT Realty Trust; Vice President of Majestic Property Manage- ment Corp.; all located at 60 Cutter Mill Road, Great Neck, NY 11021. Israel Rosenzweig Vice President President and Chief Operating Officer of GP Partners, Inc.; Senior Vice President of BRT Realty Trust; Vice President of Georgetown Partners, Inc.; Senior Vice President of One Liberty Properties, Inc.; all Page 12 of 19 Pages Principal Occupation Name Position and Address - ---- -------- ----------- located at 60 Cutter Mill Road, Great Neck, NY 11021. Simeon Brinberg Senior Vice Senior Vice President President and and Secretary Secretary of BRT Realty Trust; Senior Vice President of Liberty Properties, Inc.; Senior Vice President and Secretary of Georgetown Partners, Inc., all located at 60 Cutter Mill Road, Great Neck, NY 11021. David W. Kalish Senior Vice Senior Vice President President - -Finance of BRT Realty Finance Trust; Senior Vice President and Chief Financial Officer of One Liberty Properties, Inc.; Vice President and Chief Financial Officer of Georgetown Partners, Inc. and REIT Management Corp., all located at 60 Cutter Mill Road, Great Neck, NY 11021. George Zweier Vice President, Vice President and Chief Financial Chief Financial Officer Officer of BRT Realty Trust; located at 60 Cutter Mill Road, Great Neck, NY 11021. Mark H. Lundy Vice President Vice President of BRT Realty Trust; Vice President of Georgetown Partners Inc.; Vice President and Secretary of One Liberty Properties Inc.; all located at 60 Cutter Mill Road Great Neck, NY 11021. Page 13 of 19 Pages Principal Occupation Name Position and Address - ---- -------- ----------- Seth D. Kobay Vice President Vice President and Treasurer of BRT Realty Trust; Vice President and Treasurer of One Liberty Properties, Inc.; Vice President of Operations of Georgetown Partners, Inc.; all located at 60 Cutter Mill Road, Great Neck, NY 11021. Mitchell Gould Vice President Vice President of BRT Realty Trust; located at 60 Cutter Mill Road, Great Neck, New York 11021 David Heiden Vice President Vice President of BRT Realty Trust, located at 60 Cutter Mill Road, Great Neck, New York 11021 Page 14 of 19 Pages ATTACHMENT B Item 2. Identity and Background of Officers and Directors of M.D. Sass Investor Services, Inc., Managing Member of SASS/Gould. Principal Occupation Name Position and Address - ---- -------- ----------- Martin D. Sass Chairman and Chairman and Chief Executive Chief Executive Officer, a director and a Officer, a principal of M.D. Sass Director and Investors Services, Inc. a Principal and affiliated registered advisers and other entities which comprise the M.D. Sass Organization, an investment advisory group, located at 1185 Avenue of the Americas, New York, NY 10036. Hugh R. Lamle President, a President, a director and a Director and principal of the M.D. Sass a Principal Investors Services, Inc. and affiliated registered advisers and other entities which comprise the M.D. Sass Organization, an investment advisory group located at 1185 Avenue of the Americas, New York, NY 10036. Jeffrey W. Wilkie Chief Financial Chief Financial Officer Officer of M.D. Sass Investors Services, Inc. and affiliated registered advisers and other entities which comprise the M.D. Sass Organization, an investment advisory group located at 1185 Avenue of the Americas, New York, NY 10036. Page 15 of 19 Pages Principal Occupation Name Position and Address - ---- -------- ----------- Philip M. Sivin Vice President, Vice President, General General Counsel, Counsel, Secretary and a Secretary and a director of M.D. Sass Director Investors, Inc. and affiliated registered advisers and other entities which comprises the M.D. Sass Organization, an investment advisory group located at 1185 Avenue of the Americas, New York, NY 10036. Page 16 of 19 Pages Identity and Background of Officers and Directors of GP Partners, Inc. Sub-Advisor to SASS/Gould. Principal Occupation Name Position and Address - ---- -------- ----------- Fredric H. Gould Chairman Chairman of the Board of BRT Realty Trust; President, sole stock- Holder and sole Director of REIT Management Corp., advisor to BRT Realty Trust; Chairman, sole stockholder and sole Director of Georgetown Partners, Inc. ("Georgetown"), the managing general partner of Gould Investors L.P.; Chairman of the Board of One Liberty Properties, Inc.; Real Estate Investors; all located at 60 Cutter Mill Road Great Neck, NY 11021 Israel Rosenzweig Vice President President and Chief Operating Officer of GP Partners, Inc.; Vice President of BRT Realty Trust; Vice President of Georgetown Partners, Inc.; Senior Vice President of One Liberty Properties, Inc.; all located at 60 Cutter Mill Road, Great Neck, NY 11021 Simeon Brinberg Vice President Senior Vice President and Secretary and Secretary of BRT Realty Trust; Senior Vice President of One Liberty Properties, Page 17 of 19 Pages Principal Occupation Name Position and Address - ---- -------- ----------- Inc.; Senior Vice President and Secretary of Georgetown Partners, Inc., all located at 60 Cutter Mill Road, Great Neck, NY 11021. David W. Kalish Vice President Senior Vice President and Treasurer - Finance of BRT Realty Trust; Senior Vice President and Chief Financial Officer of One Liberty Properties, Inc.; Vice President and Chief Financial Officer of Georgetown Partners, Inc. and REIT Management Corp., all located at 60 Cutter Mill Road, Great Neck, NY 11021. Matthew J. Gould Vice President President of Georgetown Partners, Inc.; Senior Vice President of One Liberty Properties, Inc.; Vice President of REIT Management Corp.; Vice President of BRT Realty Trust; Vice President of Majestic Property Management Corp.; all located at 60 Cutter Mill Road, Great Neck, NY 11021. Jeffrey Gould Vice President President and Chief Executive Officer of BRT Realty Trust; Senior Vice President of One Liberty Properties, Inc.; Senior Vice President of Georgetown Partners, Inc.; Vice President of Majestic Property Management Corp.; all located at 60 Cutter Mill Road, Great Neck, NY 11021. Page 18 of 19 Pages Principal Occupation Name Position and Address - ---- -------- ----------- Mark H. Lundy Vice President Vice President of and Assistant BRT Realty Trust; Secretary Vice President of Georgetown Partners Inc.; Vice President and Secretary of One Liberty Properties Inc.; all located at 60 Cutter Mill Road, Great Neck, NY 11021. Jeffrey Fishman Vice President President and Chief Executive Officer of One Liberty Properties, Inc., located at 60 Cutter Mill Road, Great Neck, NY 11021. Page 19 of 19 Pages EXHIBIT The undersigned agree to file a single statement on Schedule 13D pursuant to Rule 13d-1(k)(l) of the Securities Exchange Act of 1934. Dated: April 2, 2003 BRT REALTY TRUST By s/David W. Kalish David W. Kalish, Senior Vice President SASS/GOULD FINANCIAL SECURITIES, LLC BY M.D. SASS INVESTORS SERVICES, INC. MANAGING MEMBER BY s/Philip M. Sivin Philip M. Sivin Vice President BRT REALTY TRUST 60 Cutter Mill Road, Suite 303 Great Neck, NY 11021 April 2, 2003 Securities and Exchange Commission 450 Fifth Street, N.W. Washington, DC 20549 Re: Statement on Schedule 13D - Atlantic Liberty Financial Corp. Gentlemen: There is transmitted herewith Schedule 13D relating to shares of common stock of Atlantic Liberty Financial Corp. The Schedule 13D is being sent today to the Company at its principal executive offices by certified mail, and to NASDAQ, in accordance with Rule 13d-7 of the rules promulgated under the Securities Exchange Act of 1934. Very truly yours, BRT REALTY TRUST By s/Simeon Brinberg Senior Vice President Enclosure -----END PRIVACY-ENHANCED MESSAGE-----