<SUBMISSION>
<ACCESSION-NUMBER>0001125282-02-002316
<TYPE>424B3
<PUBLIC-DOCUMENT-COUNT>1
<FILING-DATE>20020730
<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>333-59970
<FILM-NUMBER>02714957
</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
<FILENAME>b319544_424b3.txt
<DESCRIPTION>PROSPECTUS
<TEXT>
<PAGE>

<TABLE>
<S>                                                                                            <C>
PRICING SUPPLEMENT NO. 1 DATED July 24, 2002                                                           Rule 424(b)(3)
(To Prospectus and Prospectus Supplement Dated September 26, 2001)                                 File No. 333-59970
</TABLE>

                                   $85,000,000
                            Kimco Realty Corporation
                           Series C Medium-Term Notes
                   Due Nine Months or More from Date of Issue

                               Floating Rate Notes

Trade Date: July 24, 2002
Issue Price: 100%
Book Entry:   /X/               Certificated:  / /
Agent's Discount or Commission: $212,500
Net Proceeds to Issuer: $84,787,500

Original Issue Date: August 1, 2002
Stated Maturity Date: August 2, 2004

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

Authorized Denomination:  /X/ $1,000 and integral multiples thereof   / / Other:
Minimum Denomination:     /X/ $1,000       / / Other:
Exchange Rate Agent: N/A
Initial Interest Rate:    Determined as described below.
Interest Reset Dates:     Original Issue Date and each February 2, May 2,
                          August 2 and November 2 thereafter.
Interest Payment Dates:   The 2nd day of each February, May, August and
                          November, commencing November 2, 2002.
Index Maturity: 3 months
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A
Spread:  plus 50 basis points (+ .50%)
Spread Multiplier: N/A

Calculation Agent:    The Bank of New York

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., as principal ($75,000,000)
           / / Banc of America Securities LLC
           /X/ Banc One Capital Markets, Inc. ($10,000,000)
           / / JPMorgan
           / / Morgan Stanley
           / / Goldman, Sachs & Co.
           / / Credit Suisse First Boston

Revolving Credit Facilities

As of July 29, 2002, the Company had drawn $220.0 million on its existing
$250.0 million revolving credit facility. In addition, on July 30, 2002, the
Company signed a $150.0 million revolving credit agreement which expires on
January 30, 2003.

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