JOINT FILING AGREEMENT

                                   EXHIBIT 1

                            JOINT FILING AGREEMENT

      In accordance with Rule 13d-1(k) promulgated under the Securities Exchange
Act of 1934, as amended, the persons named below agree to the joint filing on
behalf of each of them a Statement on Schedule 13D (including amendments
thereto) with regard to the common stock of Wellsford Real Properties, Inc. and
further agree that this Joint Filing Agreement be included as an Exhibit to such
joint filings.  In evidence thereof, the undersigned, being duly authorized,
hereby execute this Agreement as of the 24th day of August, 2001.

                                    SVP-RPC JOINT VENTURE

                                    By:  Rosewood Property Company, its
                                         managing venturer

                                         By: /s/ B. Xxxxxx Xxxx
                                             ------------------------
                                         Name:  B. Xxxxxx Xxxx
                                         Title: Senior Vice President


                                    ROSEWOOD PROPERTY COMPANY

                                    By: /s/ B. Xxxxxx Xxxx
                                        -----------------------------
                                    Name:  B. Xxxxxx Xxxx
                                    Title: Senior Vice President

                                    THE ROSEWOOD CORPORATION

                                    By: /s/ C. Xxxxxx Xxx
                                        -----------------------------
                                    Name:  C. Xxxxxx Xxx
                                    Title: Senior Vice President

                                    XXXXXXXX XXXX TRUST ESTATE

                                    By: /s/ Xxx X. Xxxxx
                                        -----------------------------
                                    Name:  Xxx X. Xxxxx
                                    Title: Trustee

                                    XXXXXXX VENTURE PROPERTIES, INC.

                                    By: /s/ Xxxxxx X. Xxxxx
                                        ----------------------------
                                        Xxxxxx X. Xxxxx
                                        President


                                    CONSOLIDATED INVESTMENT
                                    SERVICES, INC.

                                    By:  /s/ Xxxx X. Xxxxxxxx
                                       _______________________
                                       Xxxx X. Xxxxxxxx
                                       Vice President


                                    XXXXXXX ENTERPRISES, INC.

                                    By:  /s/ Xxxxxx X. Xxxxx
                                       _______________________
                                       Xxxxxx X. Xxxxx
                                       President


                                    ESTATE OF XXXXXXX X. XXXXXXX

                                    By:  /s/ Xxxxxx X. Xxxxx
                                       _______________________
                                       Xxxxxx X. Xxxxx
                                       Independent Co-Executor of the
                                       Estate of Xxxxxxx X. Xxxxxxx