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

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                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

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        Date of Report (Date of earliest event reported): March 20, 2006

                              W. P. Carey & Co. LLC
             (Exact name of registrant as specified in its charter)


          Delaware                    001-13779                13-3912578
(State or other jurisdiction         (Commission             (IRS Employer
      of incorporation)              File Number)        Identification Number)

             50 Rockefeller Plaza
                 New York, NY                                    10020
   (Address of principal executive offices)                    (Zip Code)

                                 (212) 492-1100
              (Registrant's telephone number, including area code)

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 2.06 Material Impairments.

On March 20, 2006, the registrant's operating committee approved the sale of a
property in Amberly Village, Ohio. The registrant entered into a contract
with a third party on March 21, 2006 to sell this property for $6,250,000. The
contract provides for a due diligence period for the buyer and as such, there
is no assurance that the proposed sale will be completed.

The property has a carrying value of approximately $9,390,000. The net proceeds
from the sale after expected closing costs are expected to be approximately
$6,190,000. Because the sale proceeds net of the expected closing costs are
below the property's carrying value, the property has been deemed impaired. The
registrant expects to record an impairment charge of approximately $3,200,000
for the quarter ending March 31, 2006 in connection with the reclassification of
this property to held for sale.


                                   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, thereunto duly authorized.


                                         W. P. Carey & Co. LLC


Date: March 22, 2006                     By: /s/  Mark J. DeCesaris
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                                             Mark J. DeCesaris
                                             Managing Director and acting Chief
                                             Financial Officer