<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001976940</cik>
        <entityName>BDP Lackawanna Investors III, LLC</entityName>
        <issuerAddress>
            <street1>125 GLENRIDGE AVENUE</street1>
            <street2>UNIT 1347</street2>
            <city>MONTCLAIR</city>
            <stateOrCountry>NJ</stateOrCountry>
            <stateOrCountryDescription>NEW JERSEY</stateOrCountryDescription>
            <zipCode>07042</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>212-906-0124</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2022</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>BDP Holdings, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>125 Glenridge Avenue</street1>
                <street2>Unit 1347</street2>
                <city>Montclair</city>
                <stateOrCountry>NJ</stateOrCountry>
                <stateOrCountryDescription>NEW JERSEY</stateOrCountryDescription>
                <zipCode>07042</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Sponsor of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>BDP Lackawanna, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>125 Glenridge Avenue</street1>
                <street2>Unit 1347</street2>
                <city>Montclair</city>
                <stateOrCountry>NJ</stateOrCountry>
                <stateOrCountryDescription>NEW JERSEY</stateOrCountryDescription>
                <zipCode>07042</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Operating Company</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>BDP Lackawanna Member, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>125 Glenridge Avenue</street1>
                <street2>Unit 1347</street2>
                <city>Montclair</city>
                <stateOrCountry>NJ</stateOrCountry>
                <stateOrCountryDescription>NEW JERSEY</stateOrCountryDescription>
                <zipCode>07042</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <lastName>Placek</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>125 Glenridge Avenue</street1>
                <street2>Unit 1347</street2>
                <city>Montclair</city>
                <stateOrCountry>NJ</stateOrCountry>
                <stateOrCountryDescription>NEW JERSEY</stateOrCountryDescription>
                <zipCode>07042</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of the Sole Manager of the Sponsor</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Other Real Estate</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001976940-23-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2023-01-23</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>50000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Arete Wealth Management, LLC</recipientName>
                <recipientCRDNumber>44856</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1115 W. Fulton Market</street1>
                    <street2>3rd Floor</street2>
                    <city>Chicago</city>
                    <stateOrCountry>IL</stateOrCountry>
                    <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                    <zipCode>60607</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>13422234</totalOfferingAmount>
            <totalAmountSold>1000000</totalAmountSold>
            <totalRemaining>12422234</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>671112</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>251123</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>Estimate of certain fees including Dealer Manager Fee and Organization and Offering Costs that may accrue to one or more related persons.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>BDP Lackawanna Investors III, LLC</issuerName>
                <signatureName>David Placek</signatureName>
                <nameOfSigner>David Placek</nameOfSigner>
                <signatureTitle>Manager of the Sole Manager of the Sponsor</signatureTitle>
                <signatureDate>2023-07-28</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
