COMMON STOCK REPURCHASE AGREEMENT

                                                                  Exhibit 10.2

                        COMMON STOCK REPURCHASE AGREEMENT

         This Common Stock Repurchase Agreement (the "Agreement") is made and
entered into as of July 14, 2008, between Presidential Realty Corporation, a
Delaware corporation (the "Company"), and Charles Frischer, a stockholder of the
Company (the "Stockholder").

         Whereas the Stockholder desires that the Company repurchase, and the
Stockholder desires to tender to the Company for repurchase, 17,000 shares of
the Company's Class A Common Stock and 200,000 shares of the Company's Class B
Common stock, (collectively the "Shares") held by the Stockholder, on the terms
and subject to the conditions set forth below (the "Repurchase").

         Now, therefore, in consideration of the premises and the mutual
covenants herein contained, the parties agree as follows:

        1. Repurchase by the Company. Subject to the terms and conditions of
this Agreement, on the Repurchase Date (as defined in Section 2 below), the
Stockholder shall sell to the Company and the Company shall repurchase from the
Stockholder the Shares for a purchase price of $5.50 per Share, for a total
repurchase price of $1,193,500 (the "Repurchase Price"), payable in cash on the
Repurchase Date.

        2. Repurchase Date. The closing of the repurchase shall take place at
the offices of the Company on the date of this Agreement or such other date and
place as shall be determined by the Company and the Stockholder. The date on
which the Repurchase occurs is the "Repurchase Date." At the closing on the
Repurchase Date, the Stockholder shall deliver or cause to be delivered to the
Company stock certificates for the Shares with executed stock transfer power(s)
therefor against wire transfer by the Company of the Repurchase Price to the
account of the Stockholder identified on the signature page hereto.

        3. Representations and Warranties of the Stockholder. The Stockholder
represents and warrants to the Company as follows:

           (a) Knowledge and Advice. The Stockholder is an accredited investor
as that term is defined in Rule 501 under the Securities Act of 1933, as
amended, and that it is sophisticated in business and financial matters and is
otherwise capable of making an informed decision whether to sell the Shares
pursuant to this Agreement. The Stockholder has elected to enter into this
Agreement and to consummate the Repurchase based on its independent analysis of
the merits and risks of the Repurchase and the Stockholder's own financial
circumstances. The Stockholder has had the opportunity to receive publicly
available information about the Company and has neither requested nor received
material, non-public information from the Company. The Stockholder has had full
opportunity to seek advice of counsel and any other appropriate advice with
respect to the Repurchase and has neither relied upon the Company in negotiating
the terms of the Repurchase nor received or relied on any communication,
investment advice, or recommendation of the Company. The Stockholder further
acknowledges that none of the Company or any other person on its behalf has made
any representation or warranty, express or implied, in connection with the
Repurchase as to the prospect of the Company, including as to future performance
or any potential income, and the Stockholder has not relied on any such
representation or warranty in its decision to enter into this Agreement. The
Stockholder is aware that the Stockholder could obtain a price for the Shares
in a sale to other parties or in the future that could be greater than the price
at which the Shares are being sold under this Agreement.

           (b) Ownership of Shares. The Stockholder owns, of record