SCHEDULE III. REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2011

SCHEDULE III. REAL ESTATE AND ACCUMULATED DEPRECIATION [Abstract]

SCHEDULE III. REAL ESTATE AND ACCUMULATED DEPRECIATION

AMBASE CORPORATION AND SUBSIDIARIES

SCHEDULE III. REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2011

(dollars in thousands)

COLUMN A		COLUMN B		COLUMN C				COLUMN D		COLUMN E
				Initial Cost to Company				Cost Capitalized Subsequent to Acquisition		Gross Amount at which Carried at the Close of the Period
Description		Encumbrances		Land		Building & Improvements		Improvements		Land		Building & Improvements		Total
Office Building:
Greenwich, CT	$	-	$	554	$	1,880	$	20	$	554	$	1,900	$	2,454
Total	$	-	$	554	$	1,880	$	20	$	554	$	1,900	$	2,454

[Additional columns below]

[Continued from above table, first column(s) repeated]

COLUMN A		COLUMN F	COLUMN G	COLUMN H	COLUMN I
Description		Accumulated Depreciation	Date Constructed	Date Acquired	Life on Which Depreciated Latest Income Statement
Office Building:
Greenwich, CT	$	533	1970	Apr.-01	39 years
Total	$	533

[a] Reconciliation of total real estate carrying value is as follows:

		Year Ended December 31, 2011		Year Ended December 31, 2010
Balance at beginning of year	$	2,454	$	2,454
Improvements		-		-
Acquisitions		-		-
Disposition		-		-
Balance at end of year	$	2,454	$	2,454
Total cost for federal tax purposes at end of each year	$	2,454	$	2,454

[b] Reconciliation of accumulated depreciation as follows:

Balance at beginning of year	$	485	$	436
Depreciation expense		48		49
Dispositions		-		-
Balance at end of year	$	533	$	485