New Valley LLC (Tables)

3 Months Ended

Mar. 31, 2012

New Valley LLC [Abstract]

Investments In non-consolidated real estate businesses

The components of “Investments in non-consolidated real estate businesses” were as follows:

	March 31, 2012		December 31, 2011
Douglas Elliman Realty LLC	$	53,089	$	53,970
New Valley Oaktree Chelsea Eleven LLC	7,273		6,320
Fifty Third-Five Building LLC	18,000		18,000
Sesto Holdings S.r.l.	5,037		5,037
1107 Broadway	5,489		5,489
Lofts 21 LLC	900		900
Hotel Taiwana	2,658		2,658
NV SOCAL LLC	24,846		25,095
HFZ East 68th Street	7,000		7,000
Investments in non-consolidated real estate businesses	$	124,292	$	124,469

Summarized financial information of Douglas Elliman Realty, LLC

The summarized financial information of Douglas Elliman Realty, LLC is as follows:

	March 31, 2012		December 31, 2011
Cash	$	50,358	$	57,450
Other current assets	5,736		3,293
Property, plant and equipment, net	14,345		14,595
Trademarks	21,663		21,663
Goodwill	38,497		38,742
Other intangible assets, net	1,082		827
Other non-current assets	3,440		3,096
Notes payable - current	417		602
Other current liabilities	12,698		18,734
Notes payable - long term	598		1,104
Other long-term liabilities	9,734		9,490
Members' equity	111,674		109,736

	Three Months Ended
	March 31,
	2012		2011
Revenues	$	71,175	$	78,044
Costs and expenses	69,226		71,501
Depreciation expense	815		936
Amortization expense	60		63
Other income	742		977
Interest expense, net	23		42
Income tax expense	54		199
Net income	$	1,739	$	6,280

Investment in Escena

The components of the Company's investment in Escena are as follows:

	March 31, 2012			December 31, 2011
Land and land improvements	$	11,245		$	11,245
Building and building improvements	1,525			1,525
Other	1,237			1,208
	14,007			13,978
Less accumulated depreciation	(771		)	(698		)
	$	13,236		$	13,280