<?xml version="1.0" encoding="UTF-8"?><!-- Generated by CompSci Transform (tm) - http://www.compsciresources.com --><!-- Created: Wed Mar 04 22:36:14 UTC 2026 --><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:common="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001801265</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Class A Common Stock, no par value (the "Common Stock")</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>02/26/2026</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000922864</issuerCik>
        <issuerName>APARTMENT INVESTMENT &amp; MANAGEMENT CO</issuerName>
        <issuerCusip>03748R747</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <common:street1>4582 SOUTH ULSTER STREET</common:street1>
          <common:street2>SUITE 1450</common:street2>
          <common:city>DENVER</common:city>
          <common:stateOrCountry>CO</common:stateOrCountry>
          <common:zipCode>80237</common:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Madison Avenue International LP</reportingPersonName>
      <citizenshipOrOrganization>E9</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>12347991</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>12347991</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>12347991</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>8.6</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Madison Avenue Partners, LP</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>12347991</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>12347991</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>12347991</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>8.6</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>EMAI Management, LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>12347991</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>12347991</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>12347991</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>8.6</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Madison Avenue GP, LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>12347991</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>12347991</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>12347991</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>8.6</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Caraway Jackson Investments LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>12347991</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>12347991</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>12347991</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>8.6</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Eli Samaha</reportingPersonName>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>12347991</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>12347991</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>12347991</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>8.6</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>APARTMENT INVESTMENT &amp; MANAGEMENT CO</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>4582 SOUTH ULSTER STREET, SUITE 1450, DENVER, CO, 80237</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>The names of the persons filing this statement on Schedule 13G (collectively, the "Reporting Persons") are:
*	Madison Avenue International LP,

*	Madison Avenue Partners, LP,

*	EMAI Management, LLC,

*	Madison Avenue GP, LLC,

*	Caraway Jackson Investments LLC, and

*	Eli Samaha.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The principal business address for each of the Reporting Persons is 150 East 58th St, 14th Fl, New York, NY 10155.</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Madison Avenue International LP is a Cayman Islands exempted limited partnership. Madison Avenue Partners, LP is a Delaware limited partnership. Each of EMAI Management, LLC, Madison Avenue GP, LLC and Caraway Jackson Investments LLC is a Delaware limited liability company. Mr. Samaha is a citizen of the United States of America.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>As of March 4, 2026, Madison Avenue International LP beneficially owned 12,347,991 shares of Common Stock.

Madison Avenue Partners, LP and Madison Avenue GP, LLC, as the investment manager and general partner of Madison Avenue International LP, respectively, may be deemed to be the beneficial owner of the Common Stock owned directly by Madison Avenue International LP.

EMAI Management, LLC, as the general partner of Madison Avenue Partners, LP, may be deemed to be the beneficial owner of the Common Stock owned directly by Madison Avenue International LP.

Caraway Jackson Investments LLC, as the owner of Madison Avenue GP, LLC, may be deemed to be the beneficial owner of the Common Stock owned directly by Madison Avenue International LP.

Mr. Samaha, as the non-member manager of Madison Avenue GP, LLC, the managing member of EMAI Management, LLC, and the majority owner of Caraway Jackson Investments LLC, may be deemed to be the beneficial owner of the Common Stock owned by Madison Avenue International LP.</amountBeneficiallyOwned>
        <classPercent>The following percentage is based on 143,870,326 Common Stock outstanding as of February 27, 2026, as disclosed in the Issuer's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 2, 2026.

As of March 4, 2026, the Reporting Persons may be deemed to have beneficially owned approximately 8.6% of the outstanding Common Stock.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>See Cover Pages Items 5-9.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See Cover Pages Items 5-9.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>See Cover Pages Items 5-9.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See Cover Pages Items 5-9.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>N</notApplicableFlag>
        <identificationAndClassificationOfGroupMembers>See Exhibit A.</identificationAndClassificationOfGroupMembers>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Madison Avenue International LP</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Eli Samaha</signature>
        <title>Eli Samaha, as Manager of Madison Avenue GP, LLC, its General Partner</title>
        <date>03/04/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Madison Avenue Partners, LP</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Eli Samaha</signature>
        <title>Eli Samaha, as Managing Member of EMAI Management, LLC, its General Partner</title>
        <date>03/04/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>EMAI Management, LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Eli Samaha</signature>
        <title>Eli Samaha, as Managing Member</title>
        <date>03/04/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Madison Avenue GP, LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Eli Samaha</signature>
        <title>Eli Samaha, as Manager</title>
        <date>03/04/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Caraway Jackson Investments LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Eli Samaha</signature>
        <title>Eli Samaha, as Member</title>
        <date>03/04/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Eli Samaha</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Eli Samaha</signature>
        <title>ELI SAMAHA</title>
        <date>03/04/2026</date>
      </signatureDetails>
    </signatureInformation>
  </formData>

</edgarSubmission>
