A widow to the former owner of the Woodstock site dropped her seven-year old court battle for at least 50 percent of the land.

In an Oct. 1 state Surrogate Court decision in Brooklyn, Helen Necketopoulos dropped her claim and settled with lawyers representing Liberty millionaire Alan Gerry and the late June Gelish.

Necketopoulos agreed to a $250,000 settlement, said Abigail Storm of Woodstock Nation Foundation. Storm maintained contact with Manhattan resident during her battle for ownership of the land. After lawyers took their fees, Necketopoulos said she ended up with $185,000.

News of the settlement was important to Storm and others who have been fighting for years to gather at the site. Storm, who says she has a right to be on the site, Tuesday wondered why she and others were arrested on the property in August when its ownership was in question. A judge this week found Storm and others guilty of trespassing. She plans to appeal the decision.

Meanwhile, Necketopoulos, who is in her early 70s, was not happy about her decision to settle, but Tuesday said if she had not, she would be left with nothing.

''I can't do anything, they just gave me the money and I signed the papers,'' she said, sobbing over the telephone. ''This was not what I was supposed to get.''

Her lawyer, George Coffinas, did not return phone calls Tuesday.

Necketopoulos is the widow of Louis Nicky, who bought the Woodstock site in 1981. Even though the couple had separated long ago, they never divorced. When Nicky died in 1989, Necketopoulos said she rightfully became co-owner of the site.

Prior to his death, however, Nicky began living with June Gelish. And when he died, Gelish produced a deed - which Necketopoulos claimed was forged - that said Gelish was co-owner of the Woodstock site.

In 1990, Necketopoulos filed her claim for ownership of the site.

In June, Necketopoulos filed another set of court papers saying Gelish broke the law when she sold the Woodstock site to Gerry for $1 million.

A court order dating back to 1991 barred Gelish from selling the site until rightful ownership could be determined.

''Alan Gerry has always had the rights to (Woodstock site),'' his lawyer, Martin J. Schwarz, said Tuesday. ''We never believed differently.''

Necketopoulos said she had never met Gerry, but others told her ''that if I continue these court proceedings with him involved I would have to pay lots of money and not get even half of what I'd get now,'' she said.

Necketopoulos, who lives on social security, said she had hoped to get at least $300,000.

''Now I'm not going to live comfortably, what I got is not a lot of money,'' she said.