FORM 4	UNITED STATES SECURITIES AND EXCHANGE COMMISSION                                                                                                      Washington, D.C.  20549		OMB APPROVAL
o   Check this box if no longer       subject to Section 16.  Form 4 or       Form 5 obligations may continue. SeeInstruction 1(b).		STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP	OMB Number:           3235-0287 Expires:     January 31, 2005 Estimated average burden hours per response. . . . . . . .0.5
(Print or Type Responses)		Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1.   Name and Address of Reporting Person* LeFrak, Richard S.

2.   Issuer Name and Ticker or Trading Symbol Sequa Corporation - SQAA

6.    Relationship of Reporting Person(s) to Issuer  (Check all applicable)        X        Director              10% Owner

(Last)                                (First)      (Middle) c/o LeFrak Organization Inc. 97-77 Queens Blvd.

3.   I.R.S. Identification Number of  Reporting Person, if an entity (voluntary)

4.   Statement for       Month/Day/Year January 1, 2003

Officer  (give title below)                        Other (specify title below)

(Street) Rego Park, NY 11374

5.   If Amendment,       Date of Original       (Month/Day/Year)

7.    Individual or Joint/Group Filing (Check Applicable Line)                X   Form filed by One Reporting Person           Form filed by More than One Reporting Person

(City)    (State)                                 (Zip)

Table I  — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security       (Instr. 3)

2.  Trans-action Date (Month/ Day/Year)

2A. Deemed Execution Date, if any (Month/Day/ Year)

3.   Trans-       action       Code       (Instr. 8)

4.    Securities Acquired (A)        or Disposed of (D)        (Instr. 3, 4 and 5)

Amount of Securities Beneficially Owned Following Reported Transaction(s)

6.   Ownership       Form:       Direct       (D) or       Indirect       (I)

7.   Nature of Indirect Beneficial Ownership

Code

V

Amount

(A) or (D)

Price

(Instr. 3 and 4)

(Instr. 4)

(Instr. 4)

Class A Common Stock

01/01/03

A(1)

V

954

A

$39.27

6,123

D

FORM 4 (continued)                                           Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned

    (e.g., puts, calls, warrants, options, convertible securities)

1. Title of  Derivative Security     (Instr. 3)

2.Conver-     sion or     Exercise     Price of     Deriv-     ative     Security

3.Trans-action Date (Month/    Day/ Year)

3A. Deemed Execution Date, if any (Month/ Day/Year)

4.   Trans-       action Code (Instr. 8)

5.   Number of Derivative Securities Acquired (A) or Disposed of (D)         (Instr. 3, 4 and 5)

6.   Date Exercisable             and       Expiration       Date       (Month/Day/       Year)

7.  Title and Amount of Underlying Securities (Instr. 3 and 4)

8.Price   of   Deriv-   ative   Secur-   ity (Instr. 5)

9. Number     of derivative Securities     Beneficially Owned     Following Reported Transaction(s) (Instr. 4)

10. Owner-       ship       Form of       Deriv-       ative       Security       Direct       (D) or         Indirect       (I)       (Instr. 4)

11.           Nature      of      Indirect      Benefi-      cial      Owner-      ship (Instr. 4)

Code

V

(A)

(D)

Date Exer- cisable

Expira- tion Date

Title

Amount  or Number of Shares

Explanation of Responses:  (1) These shares are issued to Mr. LeFrak pursuant to the Sequa Corporation Directors' Stock Compensation Plan (the "Plan").  The shares are restricted from disposition or transfer in accordance with the provisions set forth in the Plan.