Sec Form 4 Filing - ROBOTTI ROBERT @ AMREP CORP. - 2023-10-03

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 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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1. Name and Address of Reporting Person ROBOTTI ROBERT 2. Issuer Name and Ticker or Trading Symbol AMREP CORP. [ AXR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 125 PARK AVENUE, SUITE 1607 3. Date of Earliest Transaction (MM/DD/YY) 10/03/2023 (Street) NEW YORK, NY10017 4. If Amendment, Date Original Filed (MM/DD/YY) 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 Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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, $0.001 Par Value Per Share 10/03/2023 P 653 A $ 16.5 289,253 ( 1 ) I See Footnote ( 5 ) Common Stock, $0.001 Par Value Per Share 10/03/2023 P 401 A $ 16.5 289,654 ( 2 ) I See Footnote ( 5 ) Common Stock, $0.001 Par Value Per Share 10/04/2023 P 5 A $ 16.5 289,659 ( 3 ) I See Footnote ( 5 ) Common Stock, $0.001 Par Value Per Share 10/04/2023 P 3 A $ 16.5 289,662 ( 4 ) I See Footnote ( 5 )

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 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

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other ROBOTTI ROBERT 125 PARK AVENUE SUITE 1607 NEW YORK, NY10017 X Signatures /s/ Robert E. Robotti 10/05/2023 Signature of Reporting Person Date

Explanation of Responses:

( 1 )This amount includes 158,589 shares of the Common Stock, $0.10 par value (the "Common Stock") directly owned by The Ravenswood Investment Company, LP ("RIC") and 130,664 shares of the Common Stock directly owned by Ravenswood Investments III, L.P. ("RI"). ( 2 )This amount includes 158,589 shares of the Common Stock, directly owned by RIC and 131,065 shares of the Common Stock directly owned by RI. ( 3 )This amount includes 158,594 shares of the Common Stock, directly owned by RIC and 131,065 shares of the Common Stock directly owned by RI. ( 4 )This amount includes 158,594 shares of the Common Stock, directly owned by RIC and 131,068 shares of the Common Stock directly owned by RI. ( 5 )Mr. Robotti may be deemed to beneficially own (solely for the purpose of Rule 16a-1(a)(2) under the Securities Exchange Act of 1934, as amended ("Exchange Act")) certain of the shares of Common Stock set forth in this Form 4 as managing member of Ravenswood Management Company, L.L.C., which serves as the general partner of RIC and RI. Mr. Robotti disclaims beneficial ownership of all securities reported herein except to the extent of any pecuniary interest therein, if any.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* 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).

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