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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934


       Date of Report (Date of earliest event reported): November 7, 2007



                                 CAPLEASE, INC.
             (Exact name of registrant as specified in its charter)


         Maryland                    1-32039                52-2414533

(State or other jurisdiction       (Commission            (I.R.S. Employer
    of incorporation)              File Number)          Identification No.)


1065 Avenue of the Americas, New York, NY                         10018

(Address of principal executive offices)                       (Zip Code)


      Registrant's telephone number, including area code:   (212) 217-6300



         (Former name or former address, if changed since last report.)


     Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

     [ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

     [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)

     [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

     [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))

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Item 2.02    Results of Operations and Financial Condition.

     This Current Report on Form 8-K and the earnings press release attached
hereto are being furnished by CapLease, Inc. (the "Company") insofar as they
disclose historical information regarding the Company's results of operations or
financial condition for the three and nine months ended September 30, 2007.

     On November 7, 2007, the Company issued a press release announcing its
financial results for the three and nine months ended September 30, 2007. A copy
of the press release is attached as Exhibit 99.1 to this Current Report on Form
8-K.

     The information in this Current Report on Form 8-K, including Exhibit 99.1,
shall not be deemed "filed" for the purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, or otherwise subject to the liabilities of
that section. The information in this Current Report shall not be incorporated
by reference into any filing or other document pursuant to the Securities Act of
1933, as amended, except as shall be expressly set forth by specific reference
in such filing or document.


Item 9.01    Financial Statements and Exhibits.

      (c) Exhibits

      Exhibit            Description
      -------            -----------

      99.1               Press Release of CapLease, Inc. dated November 7, 2007





                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                         CAPLEASE, INC.


                                         By: /s/ PAUL C. HUGHES
                                         -----------------------------
                                             Paul C. Hughes
                                             Vice President, General Counsel
                                             and Corporate Secretary



DATE: November 7, 2007





                                  EXHIBIT INDEX

      Exhibit            Description
      -------            -----------

      99.1               Press Release of CapLease, Inc. dated November 7, 2007