FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF 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

OMB APPROVAL OMB Number: 3235-0104 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(Print or Type Responses)

1. Name and Address of Reporting Person *   Levy Robert L 2. Date of Event Requiring Statement (Month/Day/Year) 11/28/2006 3. Issuer Name and Ticker or Trading Symbol CENTERLINE HOLDING CO [CHC] (Last) (First) (Middle) 625 MADISON AVENUE, 5TH FLOOR 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Financial Officer 5. If Amendment, Date Original Filed(Month/Day/Year) 11/30/2006 (Street) NEW YORK,, NY 10022 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Shares 21,440 (1) D   Common Shares 4,762 (2) D   Common Shares 9,062 (3) D Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Levy Robert L 625 MADISON AVENUE, 5TH FLOOR NEW YORK,, NY 10022	Â	Â	  Chief Financial Officer	Â

Signatures

/s/ Robert L. Levy		03/25/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(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)	The Issuer granted 25,867 restricted common shares to Mr. Levy pursuant to its Restricted Share Plan, with an effective date of November 17, 2003. The restricted common shares will vest over four years in four equal cumulative installments of 25%, with one fourth vesting on each anniversary of the effective date. On November 28, 2005, Centerline withheld 2,241 shares to pay for Mr. Levy's tax obligations. On November 17, 2006, Centerline withheld 2,186 shares to pay for Mr. Levy's tax obligations.
(2)	The Issuer granted 5,367 restricted common shares to Mr. Levy pursuant to its Amended and Restated Incentive Share Plan, with an effective date of February 28, 2005. The restricted common shares will vest over three years in three equal cumulative installments of 33 1/3%, with one third vesting on each anniversary of the effective date. . On March 3, 2006, Centerline withheld 605 to pay for Mr. Levy's tax obligations.
(3)	The Issuer granted 9,062 restricted common shares to Mr. Levy pursuant to its Amended and Restated Incentive Share Plan, with an effective date of March 1, 2006. The restricted common shares will vest over three years in three equal cumulative installments of 33 1/3%, with one third vesting on each anniversary of the effective date.
  Remarks: Remarks: This amended Form 3 is being filed to correct the reporting of Mr. Levy's beneficial ownership in Table 1.  The original Form 3, filed on November 30, 2006, mistakenly recorded Mr. Levy's ownership without taking into account prior tax withholdings as described above.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.