Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
AP LXP Holdings, LLC
   2. Issuer Name and Ticker or Trading Symbol
LEXINGTON REALTY TRUST [LXP] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
TWO MANHATTANVILLE ROAD SUITE 204		 3. Date of Earliest Transaction (Month/Day/Year)
10/22/2008
(Street)

PURCHASE, NY 10577		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 10/22/2008   C(1)   18,687,236 A $ 0 18,687,236 D (2)  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Units of Limited Partnership $ 0 (3) 10/22/2008   C(1)   18,647,236     (4)   (4) Common Stock 18,647,236 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
AP LXP Holdings, LLC
TWO MANHATTANVILLE ROAD SUITE 204
PURCHASE, NY 10577		     X    
APOLLO REAL ESTATE INVESTMENT FUND III LP

 		     X    
APOLLO REAL ESTATE ADVISORS III L P
TWO MANHATTANVILLE ROAD
PURCHASE, NY 10577		     X    
APOLLO REAL ESTATE CAPITAL ADVISORS III INC
TWO MANHATTANVILLE ROAD
PURCHASE, NY 10577		     X    

Signatures

 AP LXP Holdings, LLC, by Stuart Koenig, Vice President   10/24/2008
**Signature of Reporting Person Date
 Apollo Real Estate Investment Fund III, L.P., by Apollo Real Estate Advisors III, L.P., its general partner, by Apollo Capital Advisors III, Inc., its general partner, by Stuart Koening, Vice President   10/24/2008
**Signature of Reporting Person Date
 Apollo Real Estate Advisors III, L.P., by Apollo Capital Advisors III, Inc., its general partner, by Stuart Koenig, Vice President   10/24/2008
**Signature of Reporting Person Date
 Apollo Capital Advisors III, Inc., by Stuart Koenig, Vice President   10/24/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares were issued upon conversion of limited partnership units held in The Lexington Master Limited Partnership in accordance with the terms of The Lexington Master Limited Partnership's partnership agreement.
(2) AP LXP Holdings, LLC, a Delaware limited liability company ("AP LXP"), holds the shares directly. Apollo Real Estate Investment Fund III, L.P., a Delaware limited partnership ("AREIF III"), is the sole member of AP LXP. Apollo Real Estate Advisors III, L.P., a Delaware limited partnership ("AREA III"), is the general partner of AREIF III, and Apollo Capital Advisors III, Inc., a Delaware corporation, is the general partner of AREA III.
(3) Each unit was converted for one share of Lexington Realty Trust common stock.
(4) No longer applicable

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