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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000006207-07-000010.txt : 20070321
<SEC-HEADER>0000006207-07-000010.hdr.sgml : 20070321
<ACCEPTANCE-DATETIME>20070321110545
ACCESSION NUMBER:		0000006207-07-000010
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070320
FILED AS OF DATE:		20070321
DATE AS OF CHANGE:		20070321

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WELLER JONATHAN B
		CENTRAL INDEX KEY:			0001203110

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04702
		FILM NUMBER:		07708150

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		215.341.7524

	MAIL ADDRESS:	
		STREET 1:		45 RIGHTERS MILL ROAD
		CITY:			PENN VALLEY
		STATE:			PA
		ZIP:			19072

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMREP CORP.
		CENTRAL INDEX KEY:			0000006207
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				590936128
		STATE OF INCORPORATION:			OK
		FISCAL YEAR END:			0430

	BUSINESS ADDRESS:	
		STREET 1:		300 ALEXANDER PARK
		STREET 2:		SUITE 204
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08540
		BUSINESS PHONE:		(609) 716-8200

	MAIL ADDRESS:	
		STREET 1:		300 ALEXANDER PARK
		STREET 2:		SUITE 204
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08540

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMREP CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN REALTY & PETROLEUM CORP
		DATE OF NAME CHANGE:	19671019
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>axr_jbw03ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2007-03-20</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000006207</issuerCik>
        <issuerName>AMREP CORP.</issuerName>
        <issuerTradingSymbol>AXR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001203110</rptOwnerCik>
            <rptOwnerName>WELLER JONATHAN B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>45 RIGHTERS MILL ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PENN VALLEY</rptOwnerCity>
            <rptOwnerState>PA</rptOwnerState>
            <rptOwnerZipCode>19072</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>No securities are beneficially owned</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <remarks>Exhibit List
- -----------------
Exhibit 24 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Irving Needleman, Attorney-in-Fact</signatureName>
        <signatureDate>2007-03-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>axrjbwexh24.txt
<TEXT>
                                                                      Exhibit 24

                                POWER OF ATTORNEY



I hereby  appoint PETER M. PIZZA and IRVING  NEEDLEMAN,  and each of them acting
singly, my  attorneys-in-fact  to sign, in my name and on my behalf,  Reports on
Securities and Exchange  Commission  Forms 3, 4 and 5 relating to the ownership,
acquisition and disposition of shares of the Common Stock of AMREP  Corporation,
and any rights thereto, and to cause the same to be filed in accordance with the
requirements  of  Section  16(a) of the  Securities  Exchange  Act of  1934,  as
amended, and the rules and regulations thereunder.

This Power of Attorney  shall remain in effect until I am no longer  required to
file such Reports, unless earlier revoked in writing.

Dated:  March 19, 2007

                                                        /s/ Jonathan B. Weller
                                                     ---------------------------
                                                     Jonathan B. Weller

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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