Exhibit 21.1

Subsidiaries of the Registrant

The following is a list of subsidiaries of the Registrant with the respective state of organization as of December 31, 2006:

Subsidiary	State
Wellsford Capital		Maryland
Wellsford Capital Properties, L.L.C.		Delaware
Wellsford Finance, L.L.C.		Delaware
Wellsford CRC Holding Corp.		Maryland
Clairborne Fordham Tower, LLC		Delaware
Creamer Vitale Wellsford L.L.C.		Delaware
Wellsford Fordham Tower, L.L.C.		Delaware
Wellsford Park Highlands Corp.		Colorado
Park at Highlands L.L.C.		Colorado
Red Canyon at Palomino Park L.L.C.		Colorado
Silver Mesa at Palomino Park L.L.C.		Colorado
Green River at Palomino Park L.L.C.		Colorado
Gold Peak at Palomino Park L.L.C.		Colorado
Palomino Park Telecom L.L.C.		Colorado
Parkside Café at Palomino Park, Inc.		Colorado
Palomino Park Owners Association		Colorado
Palomino Park Public Improvements Corp.		Colorado
Wellsford Commercial Properties Trust		Maryland
Wellsford/Whitehall Group, L.L.C.		Delaware
Wellsford Ventures, Inc.		Maryland
Reis Services, LLC		Delaware
Wellsford Mantua LLC		Delaware
East Lyme Housing Ventures, LLC		Delaware
Claverack Housing Ventures, LLC		Delaware
Orchards II Ventures LLC		Delaware
Beekman Holdings, Inc.		Delaware
Beekman Housing Ventures, LLC		Delaware