<SUBMISSION>
<ACCESSION-NUMBER>0000889812-99-003047
<TYPE>424B3
<PUBLIC-DOCUMENT-COUNT>1
<FILING-DATE>19991020
<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>333-61303
<FILM-NUMBER>99731252
</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 AMENDMENT NO. 1
<TEXT>


<PAGE>

PRICING SUPPLEMENT NO. 1 DATED OCTOBER 15, 1999                   Rule 424(b)(3)
(To Prospectus and Prospectus Supplement Dated                File No. 333-61303
September 18, 1998


                                  $50,000,000
                            Kimco Realty Corporation
                           Series B Medium-Term Notes
                   Due Nine Months or More from Date of Issue

                                Fixed Rate Notes

Interest Rate: 7.62%
Trade Date: October 15, 1999

Issue Price: 100%
Agent's Discount or Commission: $250,000
Net Proceeds to Issuer: $49,750,000

Original Issue Date: October 20, 1999
Stated Maturity Date: October 20, 2004

Interest Payment Dates (if other than April 1 and October 1): N/A

Book Entry: /X/             Certificated: / /

Authorized Denomination: /X/  $1,000 and integral multiples thereof   / / Other:
Minimum Denomination:    /X/  $1000     / / Other:
Specified Currency:   /X/  United States dollars       / / Other:
Exchange Rate Agent: N/A

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:

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

Agent:    /X/ Merrill Lynch & Co.
          / / Chase Securities Inc.
          / / Banc One Capital Markets, Inc.
          / / J.P. Morgan Securities Inc.
          / / Morgan Stanley & Co. Incorporated
          / / Goldman, Sachs & Co.
          /X/ Other: Legg Mason Wood Walker, Incorporated

         The effective date of the final regulations regarding withholding and
information rules applicable to non-U.S. Holders discussed in the Prospectus
Supplement under the heading "Certain United States Federal Income Tax
Considerations -- Backup Withholding" has been changed. The final regulations
are generally effective for payments made after December 31, 2000, subject to
certain transition rules.

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