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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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 7wxkUOizasuOH400Yhb9+Q==

<SEC-DOCUMENT>0000950138-07-000404.txt : 20070523
<SEC-HEADER>0000950138-07-000404.hdr.sgml : 20070523
<ACCEPTANCE-DATETIME>20070523162737
ACCESSION NUMBER:		0000950138-07-000404
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070521
FILED AS OF DATE:		20070523
DATE AS OF CHANGE:		20070523

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			STRONG DAVID
		CENTRAL INDEX KEY:			0001246562

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12917
		FILM NUMBER:		07874226

	BUSINESS ADDRESS:	
		STREET 1:		C/O WELLSFORD REAL PROPERTIES INC
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WELLSFORD REAL PROPERTIES INC
		CENTRAL INDEX KEY:			0001038222
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				133926898
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		535 MADISON AVENUE
		STREET 2:		26TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2128383400

	MAIL ADDRESS:	
		STREET 1:		535 MADISON AVENUE
		STREET 2:		26TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>may23_strong-4ex.xml
<DESCRIPTION>WELLSFORD\2007 FILINGS\MAY 23 STRONG-4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-05-21</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001038222</issuerCik>
        <issuerName>WELLSFORD REAL PROPERTIES INC</issuerName>
        <issuerTradingSymbol>WRP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001246562</rptOwnerCik>
            <rptOwnerName>STRONG DAVID</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O WELLSFORD REAL PROPERTIES, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>535 MADISON AVENUE</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Senior VP for Development</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $.02 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2007-05-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>31196</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>5.81</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>232454</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.81</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-05-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>31196</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2007-05-29</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>31196</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">One-third of these options became exercisable on May 30 of each of the years 1998 through 2000.</footnote>
    </footnotes>

    <remarks>***Jeffrey H. Lynford was granted a power of attorney to sign all Form 4s and Form 5s on behalf of David M. Strong  for all
 derivative and non-derivative securities of Wellsford acquired, disposed of or beneficially owned by Mr. Strong, so long as
 Mr. Strong is an officer of Wellsford.</remarks>

    <ownerSignature>
        <signatureName>/s/ Jeffrey H. Lyndord, as Attorney-In-Fact***</signatureName>
        <signatureDate>2007-05-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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