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New Valley LLC (Tables)
 9 Months Ended
Sep. 30, 2017
Real Estate [Abstract]  
Investments in real estate ventures
Distributions:

The components of distributions received by New Valley from its investments in real estate ventures were as follows:
 
Nine Months Ended September 30,
 
2017
 
2016
Condominium and Mixed Use Development:
 
 
 
            New York City SMSA
$
35,780

 
$
19,849

            All other U.S. areas
17,949

 
10,045

 
53,729

 
29,894

Apartment Buildings:
 
 
 
            All other U.S. areas
239

 
8,821

 
239

 
8,821

Hotels:
 
 
 
            International
239

 
—

 
239

 
—

Commercial:
 
 
 
            New York City SMSA
101

 
375

            All other U.S. areas
238

 
—

 
339

 
375

 
 
 
 
Other
1,150

 
1,050

Total distributions
$
55,696

 
$
40,140

Maximum Exposure to Loss:

New Valley’s maximum exposure to loss was as follows:
 
September 30, 2017
Condominium and Mixed Use Development:
 
            New York City SMSA
$
125,600

            All other U.S. areas
35,420

 
161,020

Apartment Buildings:
 
            All other U.S. areas
7,598

 
7,598

Hotels:
 
            New York City SMSA
21,642

            International
2,990

 
24,632

Commercial:
 
            New York City SMSA
2,487

            All other U.S. areas
9,993

 
12,480

Other
11,718

Total maximum exposure to loss
$
217,448

The components of “Investments in real estate ventures” were as follows:
 
Range of Ownership
 
September 30, 2017
 
December 31, 2016
Condominium and Mixed Use Development:
 
 
 
 
 
            New York City SMSA
3.1% - 49.5%
 
$
124,003

 
$
131,770

            All other U.S. areas
15.0% - 48.5%
 
29,658

 
40,950

 
 
 
153,661

 
172,720

Apartment Buildings:
 
 
 
 
 
            All other U.S. areas
7.6% - 16.3%
 
7,598

 
8,287

 
 
 
7,598

 
8,287

Hotels:
 
 
 
 
 
            New York City SMSA
5.2%
 
21,642

 
21,895

            International
49.0%
 
2,990

 
3,037

 
 
 
24,632

 
24,932

Commercial:
 
 
 
 
 
            New York City SMSA
49.0%
 
2,487

 
3,290

            All other U.S. areas
2.1%
 
9,993

 
10,000

 
 
 
12,480

 
13,290

 
 
 
 
 
 
Other
15.0% - 50.0%
 
11,718

 
2,029

Investments in real estate ventures
 
 
$
210,089

 
$
221,258


Contributions:

The components of New Valley’s contributions to its investments in real estate ventures were as follows:
 
Nine Months Ended September 30,
 
2017
 
2016
Condominium and Mixed Use Development:
 
 
 
            New York City SMSA
$
872

 
$
4,238

            All other U.S. areas
8,596

 
16,115

 
9,468

 
20,353

Hotels:
 
 
 
            New York City SMSA
1,537

 
2,515

            International
—

 
490

 
1,537

 
3,005

 
 
 
 
Other
9,825

 
—

Total contributions
$
20,830

 
$
23,358

Equity in Earnings (Losses) from Real Estate Ventures:

New Valley recognized equity in earnings (losses) from real estate ventures as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Condominium and Mixed Use Development:
 
 
 
 
 
 
 
            New York City SMSA
$
(55
)
 
$
1,984

 
$
29,241

 
$
4,594

            All other U.S. areas
96

 
(416
)
 
(920
)
 
(1,247
)
 
41

 
1,568

 
28,321

 
3,347

Apartment Buildings:
 
 
 
 
 
 
 
            All other U.S. areas
197

 
43

 
(450
)
 
2,189

 
197

 
43

 
(450
)
 
2,189

Hotels:
 
 
 
 
 
 
 
            New York City SMSA
(584
)
 
(518
)
 
(1,790
)
 
(1,592
)
            International
489

 
(225
)
 
193

 
5

 
(95
)
 
(743
)
 
(1,597
)
 
(1,587
)
Commercial:
 
 
 
 
 
 
 
            New York City SMSA
(333
)
 
(81
)
 
(702
)
 
(1,613
)
            All other U.S. areas
295

 
—

 
231

 
—

 
(38
)
 
(81
)
 
(471
)
 
(1,613
)
 
 
 
 
 
 
 
 
Other
(152
)
 
235

 
554

 
992

Equity in (losses) earnings from real estate ventures
$
(47
)
 
$
1,022

 
$
26,357

 
$
3,328
Combined Financial Statements for Unconsolidated Subsidiaries
Long-term investments accounted for under the equity method consisted of the following:
 
September 30,
2017
 
December 31, 2016
Indian Creek Investors LP (“Indian Creek”)
$
2,871

 
$
5,248

Boyar Value Fund (“Boyar”)
8,475

 
7,816

Ladenburg Thalmann Financial Services Inc. (“LTS”)
2,680

 
4,657

Castle Brands, Inc. (“Castle”)
—

 
—

 
$
14,026

 
$
17,721

Long-term investments consisted of the following:
 
September 30, 2017
 
December 31, 2016
Investments accounted at cost
$
60,450

 
$
35,476

Investments accounted for under the equity method
14,026

 
17,721

 
$
74,476

 
$
53,197

Condominium and Mixed Use Development:

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Income Statement
 
 
 
 
 
 
 
Revenue
$
31,666

 
$
121,456

 
$
194,030

 
$
380,040

Cost of sales
20,582

 
71,109

 
122,461

 
226,823

Other expenses
228

 
2,155

 
3,321

 
3,591

Income from continuing operations
$
10,856

 
$
48,192

 
$
68,248

 
$
149,626
Investments in Real Estate, net
Investments in Real Estate, net:

The components of “Investments in real estate, net” were as follows:
 
September 30,
2017
 
December 31,
2016
Escena, net
$
10,537

 
$
10,792

Sagaponack
13,205

 
12,848

            Investments in real estate, net
$
23,742

 
$
23,640



Escena.  The assets of “Escena, net” were as follows:
 
September 30,
2017
 
December 31,
2016
Land and land improvements
$
8,907

 
$
8,907

Building and building improvements
1,879

 
1,878

Other
2,074

 
2,028

 
12,860

 
12,813

Less accumulated depreciation
(2,323
)
 
(2,021
)
 
$
10,537

 
$
10,792