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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 jmUkPeqsA7uvkivcdPo/BQ==

<SEC-DOCUMENT>0001209191-05-065722.txt : 20051228
<SEC-HEADER>0001209191-05-065722.hdr.sgml : 20051228
<ACCEPTANCE-DATETIME>20051228154535
ACCESSION NUMBER:		0001209191-05-065722
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20051223
FILED AS OF DATE:		20051228
DATE AS OF CHANGE:		20051228

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GRINER RICHARD H
		CENTRAL INDEX KEY:			0001232345

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-27826
		FILM NUMBER:		051288975

	BUSINESS ADDRESS:	
		STREET 1:		C/O OMNI FITNESS
		STREET 2:		860 CANAL ST
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06902
		BUSINESS PHONE:		2036530406

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PARTY CITY CORP
		CENTRAL INDEX KEY:			0001005972
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-MISCELLANEOUS SHOPPING GOODS STORES [5940]
		IRS NUMBER:				223033692
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0702

	BUSINESS ADDRESS:	
		STREET 1:		450 COMMONS WAY
		STREET 2:		BLDG C
		CITY:			ROCKAWAY
		STATE:			NJ
		ZIP:			07860
		BUSINESS PHONE:		9739830888

	MAIL ADDRESS:	
		STREET 1:		400 COMMONS WAY
		CITY:			ROCKAWAY
		STATE:			NJ
		ZIP:			07866
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bny15885_rhg.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
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<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-12-23</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001005972</issuerCik>
        <issuerName>PARTY CITY CORP</issuerName>
        <issuerTradingSymbol>PCTY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001232345</rptOwnerCik>
            <rptOwnerName>GRINER RICHARD H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PARTY CITY CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>400 COMMONS WAY</rptOwnerStreet2>
            <rptOwnerCity>ROCKAWAY</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07866</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Operating Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>14.4844</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-12-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
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                </transactionShares>
                <transactionPricePerShare>
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                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                <underlyingSecurityShares>
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            </underlyingSecurity>
            <postTransactionAmounts>
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                    <value>217300</value>
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                    <value>D</value>
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        <derivativeTransaction>
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                <transactionPricePerShare>
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            <securityTitle>
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            <conversionOrExercisePrice>
                <value>13.2800</value>
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            <transactionDate>
                <value>2005-12-23</value>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
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                    <value>37300</value>
                </transactionShares>
                <transactionPricePerShare>
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                </transactionPricePerShare>
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                <underlyingSecurityShares>
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            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
                    <value>150000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
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                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>12.3400</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-12-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionPricePerShare>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Fully vested and cashed out at the spread between the merger price of $17.50 per share and the exercise price, pursuant to the Agreement and Plan of Merger, dated as of September 26, 2005, as amended, by and among Amscan Holdings, Inc., BWP Acquisition, Inc. and Party City Corporation.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Joseph J. Zepf, Esq., attorney-in-fact for Richard H. Griner</signatureName>
        <signatureDate>2005-12-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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