<SEC-DOCUMENT>0001058800-22-000004.txt : 20220321
<SEC-HEADER>0001058800-22-000004.hdr.sgml : 20220321
<ACCEPTANCE-DATETIME>20220321121232
ACCESSION NUMBER:		0001058800-22-000004
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20211231
FILED AS OF DATE:		20220321
DATE AS OF CHANGE:		20220321
EFFECTIVENESS DATE:		20220321

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BEACH INVESTMENT COUNSEL INC/PA
		CENTRAL INDEX KEY:			0001058800
		IRS NUMBER:				232845611
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-03561
		FILM NUMBER:		22754868

	BUSINESS ADDRESS:	
		STREET 1:		FIVE TOWER BRIDGE
		STREET 2:		300 BARR HARBOR DRIVE SUITE 220
		CITY:			WEST CONSHOHOCKEN
		STATE:			PA
		ZIP:			19428
		BUSINESS PHONE:		6109401111

	MAIL ADDRESS:	
		STREET 1:		FIVE TOWER BRIDGE
		STREET 2:		300 BARR HARBOR DRIVE SUITE 220
		CITY:			WEST CONSHOHOCKEN
		STATE:			PA
		ZIP:			19428
</SEC-HEADER>
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<TYPE>13F-HR
<SEQUENCE>1
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          <com:street1>FIVE TOWER BRIDGE</com:street1>
          <com:street2>300 BARR HARBOR DRIVE SUITE 220</com:street2>
          <com:city>WEST CONSHOHOCKEN</com:city>
          <com:stateOrCountry>PA</com:stateOrCountry>
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    <signatureBlock>
      <name>Cheri BonVardo</name>
      <title>Executive Director/CCO</title>
      <phone>610-940-1111</phone>
      <signature>Cheri BonVardo</signature>
      <city>West Conshohocken</city>
      <stateOrCountry>PA</stateOrCountry>
      <signatureDate>03-21-2022</signatureDate>
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<DESCRIPTION>DEC 13 F
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      <Shared>0</Shared>
      <None>71532</None>
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    <cusip>17275R102</cusip>
    <value>3388</value>
    <shrsOrPrnAmt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>53459</None>
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    <value>5468</value>
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    <votingAuthority>
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      <Shared>0</Shared>
      <None>90545</None>
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    <nameOfIssuer>Coca Cola Co.</nameOfIssuer>
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    <cusip>191216100</cusip>
    <value>19539</value>
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      <sshPrnamt>329995</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>329995</None>
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    <nameOfIssuer>Colgate Palmolive</nameOfIssuer>
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    <cusip>194162103</cusip>
    <value>785</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>9201</None>
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    <nameOfIssuer>Comcast Cl A</nameOfIssuer>
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    <cusip>20030N101</cusip>
    <value>479</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>9524</None>
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    <nameOfIssuer>Constellation Brands</nameOfIssuer>
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    <cusip>21036P108</cusip>
    <value>3613</value>
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      <sshPrnamt>14397</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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      <Shared>0</Shared>
      <None>14397</None>
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    <value>287</value>
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      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>7700</None>
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    <cusip>22160K105</cusip>
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      <sshPrnamt>5976</sshPrnamt>
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    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5976</None>
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    <cusip>22822V101</cusip>
    <value>638</value>
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      <sshPrnamt>3057</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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      <Shared>0</Shared>
      <None>3057</None>
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    <cusip>228368106</cusip>
    <value>14759</value>
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      <sshPrnamt>133422</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>133422</None>
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    <cusip>244199105</cusip>
    <value>1030</value>
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      <sshPrnamt>3005</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>3005</None>
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    <nameOfIssuer>Dentsply Sirona</nameOfIssuer>
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    <cusip>24906P109</cusip>
    <value>2112</value>
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      <sshPrnamt>37850</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>37850</None>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>17525</None>
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    <value>206</value>
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      <sshPrnamt>8757</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>8757</None>
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    <nameOfIssuer>Discovery Inc. C</nameOfIssuer>
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    <cusip>25470f302</cusip>
    <value>1506</value>
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      <sshPrnamt>65770</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>65770</None>
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    <nameOfIssuer>Eli Lilly</nameOfIssuer>
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    <cusip>532457108</cusip>
    <value>1156</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4185</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>4185</None>
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    <nameOfIssuer>Emerson Electric Co.</nameOfIssuer>
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    <cusip>291011104</cusip>
    <value>5244</value>
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      <sshPrnamt>56408</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>56408</None>
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    <nameOfIssuer>Estee Lauder</nameOfIssuer>
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    <cusip>518439104</cusip>
    <value>1723</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4655</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>4655</None>
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    <votingAuthority>
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      <None>11955</None>
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    <cusip>31428x106</cusip>
    <value>2586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9998</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>9998</None>
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    <nameOfIssuer>Flushing Financial</nameOfIssuer>
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    <cusip>343873105</cusip>
    <value>3740</value>
    <shrsOrPrnAmt>
      <sshPrnamt>153900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>153900</None>
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    <nameOfIssuer>Fomento Economico Mexicano SA</nameOfIssuer>
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    <cusip>344419106</cusip>
    <value>1348</value>
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      <sshPrnamt>17350</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>17350</None>
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    <nameOfIssuer>Freeport McMoran Inc.</nameOfIssuer>
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    <value>25389</value>
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      <Shared>0</Shared>
      <None>608410</None>
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    <value>426</value>
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      <sshPrnamt>4512</sshPrnamt>
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      <Shared>0</Shared>
      <None>4512</None>
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    <value>410</value>
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      <sshPrnamt>7000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>7000</None>
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    <nameOfIssuer>Genuine Parts</nameOfIssuer>
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    <value>866</value>
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      <sshPrnamt>6177</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>6177</None>
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    <cusip>381430396</cusip>
    <value>212</value>
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      <sshPrnamt>3100</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>3100</None>
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    <value>322</value>
    <shrsOrPrnAmt>
      <sshPrnamt>775</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>775</None>
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    <nameOfIssuer>Howard Hughes Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>44267D107</cusip>
    <value>39126</value>
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      <sshPrnamt>384420</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>384420</None>
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    <cusip>459200101</cusip>
    <value>655</value>
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      <sshPrnamt>4903</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>4903</None>
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    <nameOfIssuer>Illinois Tool Works</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>452308109</cusip>
    <value>577</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2339</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2339</None>
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    <nameOfIssuer>Intel Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>458140100</cusip>
    <value>567</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11004</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>11004</None>
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    <nameOfIssuer>J.P. Morgan Chase</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46625h100</cusip>
    <value>20334</value>
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      <sshPrnamt>128412</sshPrnamt>
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    <votingAuthority>
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      <Shared>0</Shared>
      <None>128412</None>
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    <nameOfIssuer>Johnson &amp; Johnson</nameOfIssuer>
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    <cusip>478160104</cusip>
    <value>23251</value>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>135914</None>
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    <nameOfIssuer>KKR &amp; Co. Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>48251W104</cusip>
    <value>6042</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81100</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>81100</None>
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    <nameOfIssuer>Kimberly Clark</nameOfIssuer>
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    <cusip>494368103</cusip>
    <value>966</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6759</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>6759</None>
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  <infoTable>
    <nameOfIssuer>Leidos Holdings Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>525327102</cusip>
    <value>464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5220</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5220</None>
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  <infoTable>
    <nameOfIssuer>Lennar Corporation Cl A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>526057104</cusip>
    <value>18011</value>
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      <sshPrnamt>155055</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Shared>0</Shared>
      <None>155055</None>
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    <nameOfIssuer>Liberty Broadband C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>530307305</cusip>
    <value>264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1639</sshPrnamt>
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      <Shared>0</Shared>
      <None>1639</None>
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    <nameOfIssuer>Liberty SiriusXM Series C</nameOfIssuer>
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    <cusip>531229607</cusip>
    <value>380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>7480</None>
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    <nameOfIssuer>Linde PLC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G5494J103</cusip>
    <value>779</value>
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    <value>611</value>
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    <value>386</value>
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    <nameOfIssuer>TotalEnergies SE Sponsored ARD</nameOfIssuer>
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      <None>143125</None>
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      <None>14136</None>
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      <None>10500</None>
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</SEC-DOCUMENT>