Edgar Filing: ACADIA REALTY TRUST

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN 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

OMB APPROVAL

OMB Number:

3235-0287

Expires:

January 31, 2005

Estimated average burden hours per response...

0.5

(Print or Type Responses)

1. Name and Address of Reporting Person ^*

CROCKER DOUGLAS II

2. Issuer Name and Ticker or Trading Symbol
ACADIA REALTY TRUST [AKR]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

C/O ACADIA REALTY TRUST, 1311 MAMARONECK AVENUE, SUITE 260

3. Date of Earliest Transaction (Month/Day/Year)
07/14/2006

(Street)

WHITE PLAINS, NY 10605

4. If Amendment, Date Original Filed(Month/Day/Year)

6. 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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

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. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

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

4. Transaction 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 Derivative Security
(Instr. 5)

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

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Common Shares of Beneficial Interest - Equivalent

⁽¹⁾

07/14/2006

8 ⁽¹⁾

07/14/2006

⁽¹⁾

Common Shares of Beneficial Interest

$ 23.28

957 ⁽³⁾

Common Shares of Beneficial Interest - Equivalent

⁽²⁾

08/08/2006

443 ⁽²⁾

08/08/2006

⁽²⁾

Common Shares of Beneficial Interest

443

$ 23.71

1,400 ⁽³⁾

Common Shares of Beneficial Interest - Equivalent

⁽¹⁾

10/13/2006

10 ⁽¹⁾

10/13/2006

⁽¹⁾

Common Shares of Beneficial Interest

$ 25.77

1,410 ⁽³⁾

Common Shares of Beneficial Interest - Equivalent

⁽²⁾

11/06/2006

268 ⁽²⁾

11/06/2006

⁽²⁾

Common Shares of Beneficial Interest

268

$ 26.07

1,678 ⁽³⁾

Common Shares of Beneficial Interest - Equivalent

⁽¹⁾

01/16/2007

14 ⁽¹⁾

01/16/2007

⁽¹⁾

Common Shares of Beneficial Interest

$ 24.63

1,692 ⁽³⁾

Common Shares of Beneficial Interest - Equivalent

⁽²⁾

01/22/2007

192 ⁽²⁾

01/22/2007

⁽²⁾

Common Shares of Beneficial Interest

192

$ 24.78

1,884 ⁽³⁾

Common Shares of Beneficial Interest - Equivalent

⁽²⁾

03/23/2007

195 ⁽²⁾

03/23/2007

⁽²⁾

Common Shares of Beneficial Interest

195

$ 26.98

2,079 ⁽³⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
CROCKER DOUGLAS II C/O ACADIA REALTY TRUST 1311 MAMARONECK AVENUE, SUITE 260 WHITE PLAINS, NY 10605	X

Signatures

/s/ Douglas Crocker II		03/28/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(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)	These shares represent the stock equivalent equal to the value of dividends which would have been payable had shares been issued pursuant to the Plan.
(2)	These shares represent the stock equivalent for trustee fees credited to his deferred account pursuant to the Issuer's Deferred Compensation Plan (the 'Plan').
(3)	This number reflects deferred shares only. In addition, Mr. Crocker owns 10,000 Options previously awarded to him in 2003, 2004, 2005 and 2006.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.