SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549




                                  SCHEDULE 13G
                                 (RULE 13d-102)


             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
          TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED
                            PURSUANT TO RULE 13d-2(b)

                           (Amendment No.          )*

                        ARPEGGIO ACQUISITION CORPORATION
--------------------------------------------------------------------------------
                                (Name of Issuer)


                         Common Stock, $0.0001 par value
--------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                   042689 10 9
--------------------------------------------------------------------------------
                                 (CUSIP Number)



                                December 31, 2004
--------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

     [ ]          Rule 13d-1(b)
     [ ]          Rule 13d-1(c)
     [X]          Rule 13d-1(d)

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

The information required in 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 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. 042689 10 9                 13G                    PAGE 2 OF 6 PAGES
----------------------------                       -----------------------------


--------------------------------------------------------------------------------

1    NAMES OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

              Eric S. Rosenfeld
--------------------------------------------------------------------------------

2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ]
                                                                         (b) [ ]

--------------------------------------------------------------------------------

3    SEC USE ONLY

--------------------------------------------------------------------------------

4    CITIZENSHIP OR PLACE OF ORGANIZATION

              United States
--------------------------------------------------------------------------------

                    5      SOLE VOTING POWER

                                   1,080,000 Shares
NUMBER OF           ------ -----------------------------------------------------
SHARES
BENEFICIALLY        6      SHARED VOTING POWER
OWNED BY
 EACH                              0
REPORTING           ------ -----------------------------------------------------
PERSON
 WITH               7      SOLE DISPOSITIVE POWER

                                   1,080,000  Shares
                    ------ -----------------------------------------------------

                    8      SHARED DISPOSITIVE POWER

                                    0
--------------------------------------------------------------------------------

9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

              1,080,000 Shares
--------------------------------------------------------------------------------

10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
     (SEE INSTRUCTIONS)                                                    [ ]


--------------------------------------------------------------------------------

11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

              13.0%
--------------------------------------------------------------------------------

12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

              IN
--------------------------------------------------------------------------------


                  *SEE INSTRUCTIONS BEFORE FILLING OUT!



----------------------------                       -----------------------------
CUSIP NO. 042689 10 9                 13G                    PAGE 3 OF 6 PAGES
----------------------------                       -----------------------------


ITEM 1(A).     NAME OF ISSUER:

               Arpeggio Acquisition Corporation
               -----------------------------------------------------------------

ITEM 1(B.)     ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

               10 East 53rd Street, 36th Floor, New York, New York 10022
               -----------------------------------------------------------------

ITEM 2(A).     NAME OF PERSONS FILING:

               Eric S. Rosenfeld ("Rosenfeld")
               -----------------------------------------------------------------

ITEM 2(B).     ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

               10 East 53rd Street, 36th Floor, New York, New York 10022
               -----------------------------------------------------------------

ITEM 2(C).     CITIZENSHIP:

               Rosenfeld is a United States citizen
               -----------------------------------------------------------------

ITEM 2(D).     TITLE OF CLASS OF SECURITIES:

               Common Stock, par value $.0001 per share
               -----------------------------------------------------------------

ITEM 2(E).     CUSIP NUMBER:

               042689 10 9
               -----------------------------------------------------------------

ITEM 3.        IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR
               13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:

    (a)  [ ]   Broker or dealer registered under Section 15 of the Exchange Act;

    (b)  [ ]   Bank as defined in Section 3(a)(6) of the Exchange Act;

    (c)  [ ]   Insurance company as defined in Section 3(a)(19) of the Exchange
               Act;

    (d)  [ ]   Investment company registered under Section 8 of the Investment
               Company Act;

    (e)  [ ]   An investment adviser in accordance with Rule 13d-1(b)(ii)(E);

    (f)  [ ]   An employee benefit plan or endowment fund in accordance with
               Rule 13d-1(b)(1)(ii)(F);

    (g)  [ ]   A parent holding company or control person in accordance with
               Rule 13d-1(b)(ii)(G)

    (h)  [ ]   A savings association as defined in Section 3(b) of the Federal
               Deposit Insurance Act;

    (i)  [ ]   A church plan that is excluded from the definition of an
               investment company under Section 3(c)(14) of the Investment
               Company Act;

    (j)  [ ]   Group, in accordance with Rule 13d-1(b)(1)(ii)(J).




----------------------------                       -----------------------------
CUSIP NO. 042689 10 9                 13G                    PAGE 4 OF 6 PAGES
----------------------------                       -----------------------------


ITEM 4.      OWNERSHIP

             Provide the following information regarding the aggregate number
and percentage of the class of securities of the issuer identified in Item 1.

        (a)  Amount beneficially owned:
                  Rosenfeld beneficially owns 1,080,000 shares of common stock.
                  Does not include (i) 120,000 shares of common stock held by
                  the Rosenfeld 1991 Children's Trust, of which Rosenfeld's wife
                  is the sole trustee, and (ii) 750,000 shares of common stock
                  which may be issued upon exercise of warrants which are not
                  currently exercisable and will not become exercisable within
                  the next 60 days.

        (b)  Percent of Class:
                   13.0%

        (c)  Number of shares as to which such person has:
             (i)    Sole power to vote or to direct the vote:
                    1,080,000 shares of common stock

             (ii)   Shared power to vote or to direct the vote: 0 shares of
                    common stock

             (iii)  Sole power to dispose or to direct the disposition of:
                    1,080,000 shares of common stock

             (iv)   Shared power to dispose or to direct the disposition of: 0
                    shares of common stock


         Instruction: For computations regarding securities which represent a
right to acquire an underlying security see Rule 13d-3(d)(1).

ITEM 5.      OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

             If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following: [ ]

ITEM 6.      OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

             None.

ITEM 7.      IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
             THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR
             CONTROL PERSON.

             None.

ITEM 8.      IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

             None.




----------------------------                       -----------------------------
CUSIP NO. 042689 10 9                 13G                    PAGE 5 OF 6 PAGES
----------------------------                       -----------------------------


ITEM 9.      NOTICE OF DISSOLUTION OF GROUP.

             None.

ITEM 10.     CERTIFICATIONS.

             None.




----------------------------                       -----------------------------
CUSIP NO. 042689 10 9                 13G                    PAGE 6 OF 6 PAGES
----------------------------                       -----------------------------


                                    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.


Dated:  February 7, 2005



                                          /s/ Eric S. Rosenfeld
                                          ---------------------
                                              Name:  Eric S. Rosenfeld
                                              Title: Chairman, CEO and President