SEC FORM 4

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

GOULD FREDRIC H

(Last)

(First)

(Middle)

60 CUTTER MILL ROAD, SUITE 303

(Street)

GREAT NECK

11021

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
BRT REALTY TRUST [ BRT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CHAIRMAN OF BOARD

3. Date of Earliest Transaction (Month/Day/Year)
12/14/2005

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
SHARES OF BENEFICIAL INTEREST	12/14/2005		M		2,500	A	$7.75	224,663⁽¹⁾	D
SHARES OF BENEFICIAL INTEREST								30,048⁽²⁾	I	BY CORPORATION
SHARES OF BENEFICIAL INTEREST								2,108,048⁽³⁾	I	BY LIMITED PARTNERSHIP
SHARES OF BENEFICIAL INTEREST								18,988⁽⁴⁾	I	BY PARTNERSHIP
SHARES OF BENEFICIAL INTEREST								25,015⁽⁵⁾	I	BY SPOUSE
SHARES OF BENEFICIAL INTEREST								25,000⁽⁶⁾	I	BY TRUST
SHARES OF BENEFICIAL INTEREST								34,762⁽⁷⁾	I	BY TRUST
SHARES OF BENEFICIAL INTEREST								241,075⁽⁸⁾	I	BY TRUST
SHARES OF BENEFICIAL INTEREST								16,915⁽⁹⁾	I	BY TRUST

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
EMPLOYEE STOCK OPT. - (RIGHT TO BUY)	$7.75	12/14/2005		M			2,500	12/13/2002	12/12/2010	SHARES OF BENEFICIAL INTEREST	2,500	$0	0	D

Explanation of Responses:

1. Total includes 2,516 shares in reporting person's IRA.

2. REPORTING PERSON IS AN OFFICER AND DIRECTOR OF THE CORPORATION WHICH OWNS THESE SHARES.

3. REPRESENTS SHARES OWNED BY GOULD INVESTORS L.P. REPORTING PERSON IS SOLE SHAREHOLDER AND AN EXECUTIVE OFFICER OF THE CORPORATE MANAGING GENERAL PARTNER OF GOULD INVESTORS L.P., SOLE MEMBER OF A LIMITED LIABILITY COMPANY WHICH IS THE OTHER GENERAL PARTNER OF GOULD INVESTORS L.P. AND HE HOLDS LIMITED PARTNERSHIP INTERESTS IN GOULD INVESTORS L.P., BOTH DIRECTLY AND INDIRECTLY. THESE SHARES REPRESENT ALL SHARES OF ISSUER OWNED BY GOULD INVESTORS L.P.

4. REPORTING PERSON IS A PARTNER IN 130 STORE COMPANY, WHICH OWNS THE SHARES REPORTED.

5. INCLUDES SHARES OWNED IN IRA OF REPORTING PERSON'S SPOUSE. REPORTING PERSON DISCLAIMS BENEFICIAL INTEREST IN THESE SHARES.

6. REPORTING PERSON IS A TRUSTEE OF THE TRUST WHICH OWNS THESE SHARES.

7. REPORTING PERSON IS A CO-TRUSTEE OF TRUSTS FOR BENEFIT OF OTHERS, WHICH OWN THE SHARES REPORTED. REPORTING PERSON DISCLAIMS BENEFICIAL OWNERSHIP OF THESE SHARES.

8. REPORTING PERSON IS A TRUSTEE OF, AND PARTICIPANT IN, THE PENSION AND PROFIT SHARING TRUSTS OF REIT MANAGEMENT CORP., WHICH OWNS THE SHARES REPORTED.

9. REPORTING PERSON IS A TRUSTEE OF BRT REALTY TRUST PENSION TRUST, WHICH OWNS THE SHARES REPORTED.

Remarks:

	Fredric H. Gould	12/14/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.