<SUBMISSION>
<ACCESSION-NUMBER>0000889812-98-001876
<TYPE>424B3
<PUBLIC-DOCUMENT-COUNT>1
<FILING-DATE>19980804
<SROS>NYSE
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>KIMCO REALTY CORP
<CIK>0000879101
<ASSIGNED-SIC>6798
<IRS-NUMBER>132744380
<STATE-OF-INCORPORATION>MD
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>424B3
<ACT>33
<FILE-NUMBER>333-37285
<FILM-NUMBER>98677090
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>3333 NEW HYDE PARK RD
<STREET2>PO BOX 5020
<CITY>NEW HYDE PARK
<STATE>NY
<ZIP>11042
<PHONE>5168699000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>3333 NEW HYDE PARK ROAD
<STREET2>PO BOX 5020
<CITY>NEW HYDE PARKQ
<STATE>NY
<ZIP>11042
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<DESCRIPTION>PRICING SUPPLEMENT NO. 3
<TEXT>


<PAGE>

PRICING SUPPLEMENT NO. 3        DATED July 31, 1998,            Rule 424(b)(3)
(To Prospectus and Prospectus Supplement Dated               File No. 33-37285
November 4, 1997)

                                  $60,000,000
                            KIMCO REALTY CORPORATION
                           Series A Medium-Term Notes
                   Due Nine Months or More From Date of Issue

                              Floating Rate Notes

Trade Date:  July 31, 1998
Issue Price: 100%
Original Issue Date:  August 7, 1998
Book Entry:  /X/              Certificated:  / /
Net Proceeds: $59,850,000
Agent's Discount or Commission: $150,000

Specified Currency:   /X/ United States Dollars      /X/ Other:
Base Rate: 
/ / Commercial Paper Rate  /X/ LIBOR           / / Certificate of Deposit Rate
/ / Treasury Rate         / / Federal Funds Rate   / / Prime Rate
/ / CMT Rate             / / 11th District         / / Other
                            Cost of Funds Rate

Exchange Rate Agent:  N/A
Authorized Denomination: /X/ $1,000 and Integral Multiples Thereof  / / Other:
Initial Interest Rate Determination Date:  August 5, 1998
Minimum Denomination: /X/ $1,000  / / Other:
Interest Reset Dates: Quarterly reset against 3 month LIBOR two business days 
                      prior to payment dates
Interest Payment Dates: February 7, May 7, August 7, November 7, 
                        commencing November 7, 1998
Index Maturity: N/A
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A
Spread (plus or minus): +15 basis points
Spread Multiplier: N/A

Calculation Agent:  IBJ Schroder Bank & Trust Company

Redemption:
     /X/  The Notes cannot be redeemed prior to maturity.
     / /  The Notes may be redeemed prior to maturity, as follows:
     Initial Redemption Date:
     Initial Redemption Percentage:
     Annual Redemption Percentage Reduction, if any:

Repayment:
    /X/  The Notes cannot be repaid prior to maturity.
    / /  The Notes may be repaid prior to maturity, as follows:
    Optional Repayment Dates:

Additional/Other Terms:  None
Addendum Attached:   / / Yes    /X/ No



<PAGE>


Agent:  /X/ Merrill Lynch & Co.
        / / Chase Securities Inc.
        / / First Chicago Capital Markets, Inc.
        / / J.P. Morgan Securities Inc.
        / / Morgan Stanley & Co. Incorporated
        / / Goldman Sachs & Co.
        / / Other:


</TEXT>
</DOCUMENT>
</SUBMISSION>
