-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 OfZgEd6N5EKYN3f2m5j8zN2GDT/QHisWecQPOFDQNvWPAyjpFdIlqpRK5uxTcK7w
 PkZhiAcqXDUszbbONFK62g==

<SEC-DOCUMENT>0001169232-08-002198.txt : 20080528
<SEC-HEADER>0001169232-08-002198.hdr.sgml : 20080528
<ACCEPTANCE-DATETIME>20080528153033
ACCESSION NUMBER:		0001169232-08-002198
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080501
FILED AS OF DATE:		20080528
DATE AS OF CHANGE:		20080528

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SPEEDUS CORP
		CENTRAL INDEX KEY:			0001002520
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING & DRINKING PLACES [5810]
		IRS NUMBER:				133853788
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		9 DESBROSSES STREET
		STREET 2:		SUITE 402
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10013
		BUSINESS PHONE:		8887733669

	MAIL ADDRESS:	
		STREET 1:		9 DESBROSSES STREET
		STREET 2:		SUITE 402
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10013

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SPEEDUS COM INC
		DATE OF NAME CHANGE:	19990331

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CELLULARVISION USA INC
		DATE OF NAME CHANGE:	19951020

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Hovnanian Shant S
		CENTRAL INDEX KEY:			0001372640

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-27582
		FILM NUMBER:		08863435

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		917-440-2791

	MAIL ADDRESS:	
		STREET 1:		9 DESBROSSES STREET
		STREET 2:		SUITE 402
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10013
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>d08-74167_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-05-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001002520</issuerCik>
        <issuerName>SPEEDUS CORP</issuerName>
        <issuerTradingSymbol>SPDE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001372640</rptOwnerCik>
            <rptOwnerName>Hovnanian Shant S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9 DESBROSSES STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 402</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10013</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-05-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.318</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>17797</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>489158</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>390000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>16924</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>34375</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The shares are held by an IRA established for the benefit of the reporting person.</footnote>
        <footnote id="F2">The shares were donated as gifts to and held in equal portions by (i) the Vahak W. Hovnanian Asset Trust, (ii) the Paris J.
 Hovnanian Asset Trust and (iii) the Charentz J. Hovnanian Asset Trust (collectively, the &quot;Trusts&quot;), which were established
 for the benefit of the reporting person's minor children. Pursuant to Rule 16a-1(a)(2)(ii)(A), the reporting person may be
 deemed to have an indirect beneficial ownership in the shares owned by the Trusts due to the fact that his wife is the
 trustee of the Trusts.</footnote>
        <footnote id="F3">The shares are held by a corporation wholly-owned by the reporting person.</footnote>
        <footnote id="F4">The shares were donated as gifts to trusts established for the benefit of the reporting person's minor children for which the
 reporting person, as custodian, has sole voting power.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Shant S. Hovnanian</signatureName>
        <signatureDate>2008-05-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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