Supplement dated February  20, 1998 to Proxy Statement Dated January 26, 1998


                                BRT REALTY TRUST
                               60 Cutter Mill Road
                                    Suite 303
                              Great Neck, NY 11021
                                 (516) 466-3100


On or about January 28, 1998 a Proxy  Statement was furnished to shareholders of
record on January 15, 1998 ("Record Date") in connection  with the  solicitation
of proxies by the Board of Trustees of BRT Realty  Trust  ("BRT" or the "Trust")
for use at the Annual Meeting of  Shareholders  to be held at the offices of the
Trust, 60 Cutter Mill Road,  Great Neck, New York,  Suite 303 commencing at 9:00
a.m.  on March 23,  1998.  The Annual  Meeting  is being held for the  following
purposes: (i) to elect three Class II Trustees to the Board of Trustees; (ii) to
appoint  Ernst & Young LLP, as the Trust's  independent  auditors for the fiscal
year ending  September 30, 1998;  and (iii) to act on such other business as may
properly come before the meeting or any adjournment thereof.

                            SUPPLEMENTAL INFORMATION

The proxy rules  adopted under the  Securities  Exchange Act of 1934, as amended
(the "Act"),  which rules apply to every solicitation of a proxy with respect to
securities   registered  pursuant  to  Section  12  of  the  Act,  provide  that
information  be furnished  with respect to any person  (including any "group" as
that term is defined in Section 13(d) (3) of the Act) known to be the beneficial
owner of more than 5% of the voting securities of the Trust.

In addition to the information  contained in the Proxy Statement,  the Trust has
been  advised,  in a Schedule 13D filing,  that  Wynnefield  Partners  Small Cap
Value, L.P., Nelson Obus,  individually and as joint tenant with Eve E. Coulson,
and  Wynnefield  Small Cap Value  Offshore Fund,  Ltd.,  filing as a group,  all
having a business  address at One Penn Plaza,  Suite 4720,  New York,  NY 10119,
have sole voting and dispositive  power with respect to 352,800  shares,  50,700
shares  and  30,000  shares,  respectively,   or  a  total  of  433,500  shares,
representing  5.30% of the outstanding  beneficial shares of the Trust as of the
Record Date.

Except for the  supplemental  information  contained  herein the information set
forth in the Proxy Statement is not changed.

Any proxy  properly  executed and returned will be voted in accordance  with the
instructions  thereon unless a shareholder revokes his proxy or changes his vote
with  respect to any  matter.  Any  shareholder  has the power to revoke a proxy
previously  submitted at any time before it is voted by giving written notice of
revocation  to the Secretary of the Trust,  by attending the Annual  Meeting and
voting in person or by submitting a Proxy bearing a later date.






If any shareholder  desires additional proxy materials,  including an additional
proxy card,  please  contact the  Secretary of the Trust at 60 Cutter Mill Road,
Great Neck, NY 11021, (516) 466-3100.




                        By Order of the Board of Trustees


                           Simeon Brinberg, Secretary