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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(f) of the Investment Company
                                   Act of 1940

(Print or Type Responses) - ----------------------------------------------------------------------------- 1. Name and Address of Reporting Person* 2. Date of Event Requiring Statement ANTENUCCI, Jr. ALBO J. (Month/Day/Year) - --------------------------------------------- (Last) (First) (Middle) 3/23/00 ---------------------------- 3. IRS or Social Security Number of Reporting Person (Voluntary) 100 SOUTH BEDFORD ROAD - --------------------------------------------- (Street) MT. KISCO NY 10549 - ----------------------------------------------------------------------------- (City) (State) (Zip) - ----------------------------------------------------------------------------- 1. Title of Security 2. Amount of Securities (Instr. 4) Beneficially Owned (Instr. 4) - ----------------------------------------------------------------------------- NO SECURITIES OWNED - ----------------------------------------------------------------------------- - ----------------------------------------------------------------------------- - ----------------------------------------------------------------------------- - ----------------------------------------------------------------------------- - ----------------------------------------------------------------------------- - ----------------------------------------------------------------------------- - ----------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------ 4. Issuer Name and Ticker or Trading Symbol AMERICAN REAL ESTATE PARTNERS, L .P. (ACP) - ------------------------------------------------------------------------------------------------------ 5. Relationship of Reporting Person to Issuer 6. If Amendment, Date (Check all applicable) of Original (Month/Day/Year) Director 10% Owner ------- ----- --------------------------- 7. Individual or Joint/Group Filing X Officer (give title below) Other (specify below) (Check Applicable ------- ----- Line) X Form filed by One EXECUTIVE VICE PRESIDENT --- Reporting Person AND CHIEF OPERATING OFFICER Form filed by More OF THE GENERAL PARTNER --- than One Reporting OF THE ISSUER Person - ------------------------------------------------------------------------------------------------------ TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED - ------------------------------------------------------------------------------------------------------ 3. Ownership 4. Nature of Indirect Beneficial Ownership Form: Direct (Instr. 5) (D) or Indirect (I) (Instr. 5) - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If the form is filed by more than one reporting person, see Instruction 5(b)(v). SEC 1473 (10-97) 1 of 2 2 FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
- -------------------------------------------------------------------------------------------------------------------------- 1. Title of Derivative Security 2. Date Exercisable and 3. Title and Amount of Securities Underlying 4. Conver- (Instr. 4) Expiration Date Derivative Security sion or (Month/Day/Year) Exercise (Instr. 4) Price of Deri- - ------------------------------------------------------------------------------------------------------------ vative Date Expiration Title Amount Security Exercisable Date or Number of Shares - -------------------------------------------------------------------------------------------------------------------------- NONE - -------------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------- 5. Ownership 6. Nature of Form of Deri- Indirect vative Security: Beneficial Direct (D) Ownership or Indirect (Instr. 5) (I) (Instr. 5) - ----------------------------------------- - ----------------------------------------- - ----------------------------------------- - ----------------------------------------- - ----------------------------------------- - ----------------------------------------- - ----------------------------------------- - -----------------------------------------
Explanation of Responses: ** Intentional misstatements or omissions of facts constitute Federal /s/ Albo J. Antenucci, Jr. 03/29/00 Criminal Violations. -------------------------------- ---------- See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). **Signature of Reporting Person Date Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, See Instruction 6 for procedure.
SEC 1473 (10-97) 2 of 2