FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES 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(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   VORNADO REALTY TRUST 2. Date of Event Requiring Statement (Month/Day/Year) 12/31/2006 3. Issuer Name and Ticker or Trading Symbol LEXINGTON REALTY TRUST [LXP] (Last) (First) (Middle) 888 SEVENTH AVE 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) NEW YORK, NY 10019 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Units of LP Interest in The Lexington Master LP (the"Units")	  (1)	  (1)	Common Stock, par value $.0001 per share	8,149,593.8 (2)	$ (1)	I	see (3)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
VORNADO REALTY TRUST 888 SEVENTH AVE NEW YORK, NY 10019	Â	  X	Â	Â
VORNADO REALTY LP 210 ROUTE 4 EAST PARAMUS, NJ 07652	Â	  X	Â	Â

Signatures

Joseph Macnow - EVP-Finance and Administration, CFO on behalf of Vornado Realty Trust		01/10/2007
**Signature of Reporting Person		Date
Joseph Macnow - EVP-Finance and Administration, CFO on behalf of Vornado Realty LP		01/10/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The Lexington Master Limited Partnership is an operating partnership for Lexington Realty Trust (the "Issuer"). Units are presently redeemable for cash or, at the option of the Issuer, shares of common stock of the Issuer on a one for one basis. There is no expiration date on the redemption of Units.
(2)	Units represent the number of units previously owned in The Newkirk Master Limited Partnership after giving effect to the post .8 to one unit split effected simultaneously with the merger of Newkirk Realty Trust Inc. into Lexington Corporate Properties Trust (the "Merger"). Upon consummation of the Merger, The Newkirk Master Limited Partnership changed its name to The Lexington Master Limited Partnership.
(3)	Consists of (i) 6,129,580.9 Units owned by Vornado Realty, L.P., ("Vornado") (ii) 1,188,932.1 Units owned by Vornado Newkirk LLC, a wholly-owned subsidiary of Vornado, and (iii) 831,080.9 Units owned by VNK L.L.C., a wholly-owned subsidiary of Vornado.

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