UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D/A

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 5)


(Name of Issuer) 		 American Community Properties Trust
(Title of Class of Securities)	 CL A
I (CUSIP Number)		 02520N106
..,
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)


                        Paul J. Isaac
			75 Prospect Avenue
			Larchmont, New York  10538
			(914) 834-3925


(Date of Event which Requires Filing of this Statement)

                         November 13, 2009


If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of 240.13d-l(e), 240.13d-l(t) or 240.13d-1(g), check the
following box.

Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See 240.13d- 7 for
other parties to whom copies are to be sent.

The remainder of this coverpage shall be filled out for a reporting person's
initial filing on thisform with respect to the subject class of securities,
and for any subsequentamendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover
page shall not be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 (" Act") or otherwise subject to the
liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).





CUSIP No.  02520N106

1.       Names of Reporting Persons.   I.R.S. Identification Nos. of above
persons (entities only)

Paul J. Isaac 		 	(principle reporting person)


2. Check the Appropriate Box if a Member of a Group (see instructions)

(a)
(b)  X


3.        SEC Use Only


4.	Source of Funds (See Instructions)

        PF, OO

5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items
        2(d) or 2 (e).

        No

6.	Citizenship or Place of Organization

	New York and Delaware

7.  Sole Voting Power	73,450  (Paul J. Isaac)

8.  Shared Voting Power

    35,800  (Abigail E. Isaac)
    15,500  (Johanna H. Isaac)
    16,800  (Samuel F. Isaac)
     2,000  (Karen C. Isaac)
   220,200  (Isaac Brothers, L.L.C.)
    12,250  (Isaac Grandchildren's Trust)
     5,000  (Marjorie S. Isaac u/w/o Irving H. Isaac Marital Trust

Reporting Person disclaims beneficial interest in 14,300 shares held
by Benjamin Isaac

9. Sole Dispositive power

   73,450   (Paul J. Isaac)
  484,329   (Arbiter Partners, L.P.)

10. Shared Dispositive Power

   35,800  (Abigail E. Isaac)
   15,500  (Johanna H. Isaac)
   16,800  (Samuel F. Isaac)
    2,000  (Karen C. Isaac)
  220,200  (Isaac Brothers, L.L.C.)
   12,250  (Isaac Grandchildren's Trust)
    5,000  (Marjorie S. Isaac u/w/o Irving H. Isaac Marital Trust)



11. Aggregate Amount Beneficially Owned by Each Reporting Person

   73,450  Paul J. Isaac

12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
 (see instructions)

   NA

13. Percent of Class Represented by Amount in Row (11)

    1.40%   Paul J. Isaac
     .68%   Abigail E. Isaac
     .30%   Johanna H. Isaac
     .32%   Samuel F. Isaac
     .04%   Karen C. Isaac
    4.21%   Isaac Brothers, L.L.C.
     .23%   Isaac Grandchildren's Trust
     .10%   Marjorie S. Isaac u/w/o Irving H. Isaac Marital Trust
    9.26%   Arbiter Partners, L.P.

14. Type of Report Person (see instructions)

IN =  Paul J. Isaac
IN =  Abigail E. Isaac
IN =  Johanna H. Isaac
IN =  Samuel F. Isaac
IN =  Karen C. Isaac
PN =  Isaac Brothers, L.L.C.
OO =  Isaac Grandchildren's Trust
OO =  Marjorie S. Isaac u/w/o Irving H. Isaac Marital Trust
PN =  Arbiter Partners, L.P.




Item 1. Security and Issuer


American Community Properties Trust - CL A
	222 Smallwood Village Center
	St. Charles, MD 20602
	(301) 843-8600

Item 2. Identity and Background

 (a) Name	Isaac Brothers,  L.LC.
		Isaac Grandchildren's Trust
		Majorie S. Isaac u/w/o Irving H. Isaac Marital Trust
		Arbiter Partners, L.P.

(b) Residence or business address

	Isaac Brothers, L.L.C.
	75 Prospect Avenue
	Larchmont, New York 10538

		Paul J. Isaac - manager
		Daniel H Isaac - member
		Frederick J. Isaac - member


	Isaac Grandchildren's Trust
	75 Prospect Avenue
	Larchmont, New York 10538

		Paul J. Isaac- manager
		Abigail E. Isaac - grandchild
		Johanna H. Isaac - grandchild
		Samuel F. Isaac  - grandchild
		Benjamin J. Isaac -grandchild


        Majorie S. Isaac u/w/o Irving H. Isaac Marital Trust
	75 Prospect Avenue
	Larchmont, New York 10538

		Paul J. Isaac - manager
		Marjorie s. Isaac - member




	Arbiter Partners, L.P.
	149 Fifth Avenue, 15th Floor
	New York, New York  10010

		Paul J. Isaac - manager



(c) Present principal occupation or employment and the name, principal
 business and address of any corporation or other organization in which
 such employment is conducted;

	Isaac Brothers, L.L.C.
	C/O Cadogan Management LLC
	149 Fifth Avenue, 15th Floor
	New York, New York 10010

	Isaac Grandchildren's Trust
	C/O Cadogan Management LLC
	149 Fifth Avenue, 15th Floor
	New York, New York 10010

	Majorie S. Isaac u/w/o Irving H. Isaac Marital Trust
	C/O Cadogan Management LLC
	149 Fifth Avenue, 15th Floor
	New York, New York 10010

	Arbiter Partners, L.P.
	149 Fifth Avenue, 15th Floor
	New York, New York 10010



(d) Whether or not, during the last five years, such person has
been convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors) and, if so, give the dates, nature of
conviction,name and location of court, and penalty imposed, or other
disposition of the case;

	None

(e) Whether or not, during the last five years, such person was a party
 to a civil proceeding of a judicial or administrative body of competent
 jurisdiction and as a result of such proceeding was or is subject to a
 judgment, decree or final order enjoining future violations of, or
 prohibiting or mandating activities subject to, federal or state
 securitieslaws or finding any violation with respect to such laws; and,
 if so, identify and describe such proceedings and summarize the terms of
 such judgment; decree or final order; and

	None

(f) Citizenship.

        United States

Item 3. Source and Amount of Funds or Other Consideration

Purchases were made with cash for personal investment.

Purchases for Arbiter Partners, L.P., a securities investment partnership,
were made with cash for partnership investment

Item 4. Purpose of Transaction

      On November 10, 2009, Paul J. Isaac and certain other Reporting Persons
 entered into a Voting Agreement with FCP Fund I, L.P. ("FCP") and FCP/ACPT
Acquisition Company, Inc. ("FCP/ACPT"), pursuant to which such persons agreed,
among other things, to vote the aggregate of 829,529 common shares of
beneficial interest in the Company owned by them, together with any other
equity interests in the Company acquired by them thereafter during the term
of such Voting Agreement, in favor of the proposed merger transaction by and
among the Company, FCP and FCP/ACPT (the "Merger"), and the amendment of the
Company's Declaration of Trust as contemplated by the Agreement and Plan of
Merger dated as of September 25, 2009 with respect to the Merger.  A copy of
such Voting Agreement is attached as Exhibit 99.1 hereto and incorporated by
reference herein.  On November 10, 2009, Paul J. Isaac and certain other
Reporting Persons (along with T Street Investors, LLC ("T Street"), a newly
formed entity in which Mr. Isaac and certain of the Reporting Persons are
contemplated to be investors) also entered into a Contribution and Partnership
Interest Purchase Agreement with FCP pursuant to which, among other things,
upon consummation of the Merger, T Street would make a cash capital
contribution to, and receive a passive minority limited partnership interest
in, a new limited partnership formed by FCP to hold the equity of the Company
following the Merger.



Item 5. Interest in Securities of the Issuer


(a) State the aggregate number and percentage of the class of securities
 identified pursuant to Item I (which may be based on the number of securities
 outstanding as contained in the most recently available filing with the
 Commission by the issuer unless the filing person has reason to believe such
 information is not current) beneficially owned (identifying those shares
 which there is a right to acquire) by each person named in Item 2. The above
 mentioned information should also be furnished with respect to persons who,
 together with any of the persons named in Item 2, comprise a group within the
 meaning of Section 13(d)(3) of the Act;

Isaac Brothers, L.L.C. holds 220,200 of the issued CL-A shares of the
Issuer, or 4.21% (Paul J. Isaac, Daniel H. Isaac and Frederick J. Isaac).

Isaac Grandchildren's Trust holds 12,250 of the issued CL-A shares of the
Issuer, or.23% (Abigail E. Isaac, Johanna H. Isaac, Samuel F. Isaac,
all minor children of Paul J. Isaac, and Benjamin J. Isaac, Mr. Isaac's
adult son).

Marjorie S. Isaac u/w/o Irving H. Isaac Marital Trust holds 5,000 of the
issued CL-A shares of the Issuer, or .10% (Paul J. Isaac and Marjorie
S. Isaac)

Arbiter Partners, L.P. holds 484,329 of the issued CL-A shares of the
Issuer, or 9.26%


(b) For each person named in response to paragraph (a), indicate the number
 of shares as to which there is sole power to vote or to direct the vote,
 shared power to vote or to direct the vote, sole power to dispose or to
 direct the disposition, or shared power to dispose or to direct the
 disposition.Provide the applicable information required by Item 2 with
 respect to each person with whom the power to vote or to direct the vote
 or to dispose or direct the disposition is shared;

220,200 shared power to vote and shared power to dispose for Isaac
Brothers, L.L.C. (Paul J. Isaac, manager and Daniel H. Isaac, member
and Frederick J. Isaac, member

12,250 shared power to vote and shared power to dispose for Isaac
Grandchildren's Trust(Abigail E. Isaac, Johanna H. Isaac, Samuel F.
Isaac,all minor children of Paul J. Isaac, and Benjamin J. Isaac, Mr.
Isaac's adult son).

(c) Describe any transactions in the class of securities reported on that were
 effected during the past sixty days or since the most recent filing of
 Schedule 13D (240.13d-191 ), whichever is less, by the persons named in
 response to paragraph (a). Instruction. The description of a transaction
 required by Item 5(c)shall include, but not necessarily be limited to: ( I)
 the identity of the person covered by Item 5( c ) who effected the transaction;
 (2) the date of the transaction; (3) the amount of securities involved;
 (4) the price per share or unit; and (5) where and how the transaction
 was effected.





(d) If any other person is known to have the right to receive or the power to
 direct the receipt of dividends from, or the proceeds from the sale of, such
 securities, a statement to that effect should be included in response to this
 item and, if such interest relates to more than five percent of the class,
 such person should be identified. A listing of the shareholders of an
 investment company registered under the Investment Company Act of 1940 or the
 beneficiaries of an employee benefit plan,pension fund or endowment fund is
 not required.


        Paul J. Isaac has the power to direct the receipt of dividends from or
	the proceeds from the sale of such Securities.  He currently owns 1.40%
	of the stock



(e) If applicable, state the date on which the reporting person ceased to be the
 beneficial ownerof more than five percent of the class of securities.
 Instruction. For computations regarding securities which represent a right to
 acquire an underlying security, see Rule 13d-3( d)( I) and the note thereto.

	none

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer

	See Item 4.


Item 7. Material to Be Filed as Exhibits

   Voting Agreement dated as of November 10, 2009 by and among, inter alia,
FCP Fund I, L.P., FCP/ACPT Acquisition Company, Inc., and certain holders of
common shares of beneficial interest in American Community Properties Trust.

Signature

After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement
is true, complete and correct.

November 13, 2009

Paul J. Isaac

Manager, Isaac Brothers L.L.C and Arbiter Partners, L.P.