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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Steven Madden, Ltd.
(Name of Issuer)
Common Stock, par value $.001 per share
(Title of Class of Securities)
N/A
--------------------------------
(CUSIP Number)
Jordan Belfort
500 North Broadway
Suite 240
Jericho, New York 11753
(516) 938-5500
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
September 8, 1997
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Statement because of
Rule 13d-1(b)(3) or (4), check the following:
--
Check the following box if a fee is being paid with this
Statement: __
SCHEDULE 13D
CUSIP NO. N/A
_____________
1 NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSONS
Jordan Belfort
---------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) __ (b) __
3 SEC USE ONLY
4 SOURCE OF FUNDS PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [X]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
Number of 7 SOLE VOTING POWER 1,244,371
Shares Bene-
ficially 8 SHARED VOTING POWER NONE
Owned by 9 SOLE DISPOSITIVE POWER 1,244,371
Reporting 10 SHARED DISPOSITIVE POWER NONE
Person With
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,244,371
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES __
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.9%
14 TYPE OF REPORTING PERSON*
IN
Item 1. Security and Issuer. Common Stock, $.0001 par value ("Madden Common")
Steven Madden, Ltd. (the "Issuer")
52-16 Barnett Avenue
Long Island City, New York 11104
Item 2. Identity and Background.
Names of Person Filing:
(a) This statement is filed on behalf of Jordan Belfort.
(b) Mr. Belfort's business address is 500 North Broadway, Suite 240,
Jericho, New York 11753
(c) Mr. Belfort's present principal occupation is the management of
personal and family investments. Mr. Belfort sometimes engages in
such activities through JRB Group, Incorporated, with offices at
500 North Broadway, Suite 240, Jericho, New York 11753
(d) Mr. Belfort has not been convicted in a criminal proceeding.
(e) In 1994 Mr. Belfort consented, without admitting or denying any
allegations of wrongdoing, to the entry of a civil judgement of
injunction enjoining him from future violations of federal and state
securities laws.
(f) Mr. Belfort is a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration.
Mr. Belfort has used his personal funds to purchase 1,139,371 shares
of Madden Common (approximately $210,000 for 30,000 of such shares and
approximately $4,496,855 for the balance of such shares). In addition,
in connection with the Issuer's initial public offering, Mr. Belfort,
as an employee of the Issuer's underwriter, was issued units (the
"Units") granting the right to purchase an additional 315,000 shares
of Madden Common at a purchase price of $5.80 per share. Beneficial
ownership of such 315,000 shares is being reported in this filing.
Item 4. Purpose of Transaction.
Mr. Belfort presently intends, subject to acceptable price and
availability, to attempt to purchase additional shares of Madden
Common. In addition, Mr. Belfort presently intends to nominate one or
more persons to stand for election to the Issuer's board of directors
at the Issuer's next meeting of stockholders.
Except as indicated in this Schedule 13D, the Reporting Parties
currently have no plans or proposals that relate to or would result in
any of the matters described in subparagraphs (a) through (j) of Item
4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
(a) As of September 8, 1997, Mr. Belfort, beneficially owned
1,244,371 shares or 14.9% of the Issuer's common stock, including
the 315,000 shares issuable upon exercise of the Units
(b) Mr. Belfort holds the power to vote or to direct the vote, to dispose
or to direct the disposition of all such shares, subject in the case
of the 315,000 shares underlying the Units, to the purchase of such
shares at a price of $5.80 per share.
(c) On September 8, 1997 Mr. Belfort entered into a purchase agreement to
acquire 899,371 shares of Madden Common at a price of $5.00 per share
from an escrow agent holding such shares as security for certain
obligations of the holder of such shares. The full purchase
consideration for such shares has been paid to the escrow agent and
only the registration of such transfer on the books of the Issuer's
transfer agent remains to be completed. Within the last month
Mr. Belfort has purchased an additional 30,000 shares of Madden Common
purchased recently by Mr. Belfort in open market transactions at an
average purchase price of approximately $7.00 per share
(d) & (e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
with respect to Securities of the Issuer
Except as indicated in this 13D and the attached exhibits, there is no
contract, arrangement, understanding or relationship between the
Reporting Party and any other person, with respect to any securities
of the Issuer.
Item 7. Material to be Filed as Exhibits:
NONE.
SIGNATURES
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.
Dated: September 9, 1997
Jericho, NY /s/ Jordan Belfort
______________________________________
Jordan Belfort