New Valley LLC (Tables)

9 Months Ended

Sep. 30, 2014

New Valley LLC [Abstract]

Schedule of summarized financial information

Summarized income statement information for Douglas Elliman for the three and nine months ended September 30, 2013, is presented below.

	Three Months Ended			Nine Months Ended
	September 30, 2013			September 30, 2013
Revenues	$	127,537		$	315,721
Costs and expenses	109,178			282,885
Depreciation expense	986			2,944
Amortization expense	56			167
Other income	(109		)	(512		)
Interest income, net	(14		)	(22		)
Income tax expense	442			684
Net income	$	16,998		$	29,575

Investments in real estate ventures

Investments in real estate ventures.  New Valley also holds equity investments in various real estate projects domestically and internationally. The components of “Investments in real estate ventures” were as follows:

	September 30, 2014		December 31, 2013
Milanosesto Holdings (f/k/a Sesto Holdings)	$	5,037	$	5,037
Land Development	5,037		5,037
10 Madison Square Park West (f/k/a 1107 Broadway)	6,384		6,579
The Whitman	526		1,165
The Marquand	12,000		7,000
11 Beach Street	12,328		11,160
20 Times Square (f/k/a 701 Seventh Avenue)	12,481		11,148
101 Murray Street	25,269		19,256
160 Leroy Street	1,353		1,150
PUBLIC Chrystie House (f/k/a Chrystie Street)	3,180		2,048
25-19 43rd Avenue	733		—
Queens Plaza (f/k/a 23-10 Queens Plaza South)	12,590		8,058
8701 Collins Avenue	4,634		3,794
125 Greenwich Street	9,308		—
Condominium and Mixed Use Development	100,786		71,358
Maryland Portfolio	3,348		3,498
ST Portfolio	15,508		15,984
Apartment Buildings	18,856		19,482
Park Lane Hotel	18,097		19,514
Hotel Taiwana	6,850		7,428
Coral Beach and Tennis Club	2,708		2,964
Hotels	27,655		29,906
Other	1,947		2,419
Investments in real estate ventures	$	154,281	$	128,202

Schedule of consolidated real estate investments

The components of “Real estate held for sale, net” were as follows:

	September 30, 2014		December 31, 2013
Escena, net	$	10,643	$	10,625
Indian Creek	—		10,286
Real estate held for sale, net	$	10,643	$	20,911

Investment in Escena

The assets of "Escena, net" are as follows:

	September 30, 2014			December 31, 2013
Land and land improvements	$	8,930		$	8,930
Building and building improvements	1,832			1,530
Other	1,577			1,577
	12,339			12,037
Less accumulated depreciation	(1,696		)	(1,412		)
	$	10,643		$	10,625