RESTAURANT ASSOCIATES &lt;RA.A> SETS 1ST QTR GAIN

  Restaurant Associates Industries Inc
  said it expects to record a pretax gain of 3.3 mln dlrs in the
  first quarter from the sale and lease of real estate.
      The company said it received a 2.5 mln dlrs partial payment
  in connection with the sale of property in Manhattan and an
  additional one mln dlrs for early termination of the lease for
  its headquarters, which was relocated in February.
      The outstanding balance of about 8.5 mln dlrs on the sale
  of the property will be paid at closing scheduled for Sept 28,
  1987, it said.
      In the first quarter ended March 31, 1986, Restaurant
  Associates reported net income of 313,000 dlrs or seven cts a
  share on sales of 40.8 mln dlrs.
  

