-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 rGyuYAATm1P95oXYvY3vZg==

<SEC-DOCUMENT>0001209191-05-065724.txt : 20051228
<SEC-HEADER>0001209191-05-065724.hdr.sgml : 20051228
<ACCEPTANCE-DATETIME>20051228154643
ACCESSION NUMBER:		0001209191-05-065724
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:			SALMON WALTER J
		CENTRAL INDEX KEY:			0001013938

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-27826
		FILM NUMBER:		051288981

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		2078852349

	MAIL ADDRESS:	
		STREET 1:		C/O NEIMAN MARCUS GROUP INC
		STREET 2:		1618 MAIN STREET
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

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_wjs.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
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    <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>
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            <rptOwnerCik>0001013938</rptOwnerCik>
            <rptOwnerName>SALMON WALTER J</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>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

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            <securityTitle>
                <value>Common Stock</value>
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            <transactionDate>
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            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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        <derivativeTransaction>
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                <value>2005-12-23</value>
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                    <value>D</value>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>12.3600</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-12-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>2000</value>
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                <transactionPricePerShare>
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        <derivativeTransaction>
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                <value>7.000</value>
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            <transactionDate>
                <value>2005-12-23</value>
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                <transactionPricePerShare>
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                </sharesOwnedFollowingTransaction>
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        <derivativeTransaction>
            <securityTitle>
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            <conversionOrExercisePrice>
                <value>6.5500</value>
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                <value>2005-12-23</value>
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                    <value>0</value>
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    </derivativeTable>

    <footnotes>
        <footnote id="F1">Converted into the right to receive $17.50 per share 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>
        <footnote id="F2">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 Walter J. Salmon</signatureName>
        <signatureDate>2005-12-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----