SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
under the Securities Exchange Act of 1934
(Amendment No. 2)

PRESIDENTIAL REALTY CORPORATION
(Name of Issuer)

Class B Common Stock, Par Value $.10 per share
(Title of Class of Securities)

741004204
(CUSIP Number of Class
of Securities)

Charles L. Frischer
30 West 63rd Street
Apt 12
New York, NY 10023
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

July 15, 2008
(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

(continued on next page(s)) Page 1 of 5 

CUSIP NO. 644206104 13D Page 2 of 5
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 Charles Frischer
 I.R.S. I.D. No.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
 (b) |_|

--------------------------------------------------------------------------------
3 SEC USE ONLY


--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*

 PF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
 PURSUANT TO ITEMS 2(e) OF 2(f) |_|


--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION

 USA
--------------------------------------------------------------------------------
 7 SOLE VOTING POWER

 110,393
 -----------------------------------------------------------------
 NUMBER OF 8 SHARED VOTING POWER
 SHARES
 BENEFICIALLY - 0 -
 OWNED BY -----------------------------------------------------------------
 EACH 9 SOLE DISPOSITIVE POWER
 REPORTING
 PERSON 110,393
 WITH -----------------------------------------------------------------
 10 SHARED DISPOSITIVE POWER

 - 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 110,393
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|


--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 3.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*

 IN
--------------------------------------------------------------------------------

*SEE INSTRUCTIONS BEFORE FILLING OUT!


CUSIP NO. 644206104 13D Page 3 of 5
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 Libby Frischer Family Partnership
 I.R.S. I.D. No.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
 (b) |_|

--------------------------------------------------------------------------------
3 SEC USE ONLY


--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*

 WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
 PURSUANT TO ITEMS 2(e) OF 2(f) |_|


--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION

 USA
--------------------------------------------------------------------------------
 7 SOLE VOTING POWER

 4,298
 -----------------------------------------------------------------
 NUMBER OF 8 SHARED VOTING POWER
 SHARES
 BENEFICIALLY - 0 -
 OWNED BY -----------------------------------------------------------------
 EACH 9 SOLE DISPOSITIVE POWER
 REPORTING
 PERSON 4,298
 WITH -----------------------------------------------------------------
 10 SHARED DISPOSITIVE POWER

 - 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 4,298
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|


--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 Less than 1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*

 PN
--------------------------------------------------------------------------------

*SEE INSTRUCTIONS BEFORE FILLING OUT!


CUSIP NO. 644206104 13D Page 4 of 5

Item 1. Security and Issuer

 This Amendment No. 2 amends certain information contained in the Schedule
13D filed jointly by Charles Frischer and Libby Frischer Family Partnership, a
New York partnership on February 11, 2008, as amended by Amendment No. 1 thereto
dated April 23, 2008 (the "13D"). Capitalized terms used but not defined herein
have the meanings ascribed to them in the 13D.

Item 3. Source and Amount of Funds of Other Consideration.

 Item 3 is amended by adding the following:

 Charles Frischer purchased 9,200 Shares on July 10, 2008 for an aggregate
purchase price of $45,540. Mr. Frischer used his personal funds to acquire these
Shares.

Item 5. Interest of Securities of the Issuer.

Item 5 is amended as follows:

 (a) and (b) Beneficial ownership

 As of the date of this Amendment No. 2 to Schedule 13D, the Partnership
directly owns 4,298 Shares representing less than 1% of the total outstanding
shares. Mr. Frischer, together with his spouse and through his IRA, owns 106,095
Shares and he is the sole general partner of the Partnership. Accordingly, Mr.
Frischer indirectly beneficially owns 110,393 Shares representing approximately
3.6% of the outstanding Shares. The percentages set forth above and on the cover
pages hereto represent percentages of the outstanding Shares based on a total of
3,494,914 Shares outstanding at May 6, 2008 as reported in the Issuer's
Quarterly Report on Form 10-QSB for the period ended March 31, 2008.

 Mr. Frischer has sole voting power and sole investment power with respect
to 110,393 Shares.

 (c) Transactions during the past sixty days

 Within the last 60 days, Charles Frischer purchased a total of 9,200
Shares for an aggregate purchase price of $45,540 on July 10, 2008 and sold
200,000 on July 15, 2008 to the Issuer for an aggregate purchase price of
$1,100,000 in a privately negotiated transaction.

 (d) Right to receive dividends or proceeds

 Not applicable.


CUSIP NO. 644206104 13D Page 5 of 5

 (e) Beneficial ownership of less than five percent

 The reporting persons ceased to be the beneficial owner of more than five
percent of the Shares on July 15, 2008.

 Signatures

 After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

 Pursuant to Rule 13d-1(k), this Schedule 13D is filed jointly on behalf of
each of the Reporting Persons.

Dated as of: July 18, 2008

 /s/ Charles Frischer
 -----------------------------------
 Charles Frischer


 LIBBY FRISCHER FAMILY PARTNERSHIP

 By: /s/ Charles Frischer
 -------------------------------
 Charles Frischer
 General Partner

Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001).

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