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New Valley LLC (Tables)
 3 Months Ended
Mar. 31, 2018
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:
 
Three Months Ended March 31,
 
2018
 
2017
Condominium and Mixed Use Development:
 
 
 
            New York City SMSA
$
2,868

 
$
6,200

 
2,868

 
6,200

Apartment Buildings:
 
 
 
            All other U.S. areas
201

 
152

 
201

 
152

Commercial:
 
 
 
            New York City SMSA
—

 
101

            All other U.S. areas
215

 
—

 
215

 
101

 
 
 
 
Other
18

 
550

Total distributions
$
3,302

 
$
7,003

Equity in Earnings (Losses) from Real Estate Ventures:

New Valley recognized equity in earnings (losses) from real estate ventures as follows:
 
Three Months Ended March 31,
 
2018
 
2017
Condominium and Mixed Use Development:
 
 
 
            New York City SMSA
$
(3,462
)
 
$
12,180

            All other U.S. areas
(505
)
 
(292
)
 
(3,967
)
 
11,888

Apartment Buildings:
 
 
 
            All other U.S. areas
(1,580
)
 
77

 
(1,580
)
 
77

Hotels:
 
 
 
            New York City SMSA
(814
)
 
(687
)
            International
(425
)
 
(550
)
 
(1,239
)
 
(1,237
)
Commercial:
 
 
 
            New York City SMSA
(267
)
 
(245
)
            All other U.S. areas
230

 
—

 
(37
)
 
(245
)
 
 
 
 
Other
263

 
630

Equity in (losses) earnings from real estate ventures
$
(6,560
)
 
$
11,113

The components of “Investments in real estate ventures” were as follows:
 
Range of Ownership
 
March 31, 2018
 
December 31, 2017
Condominium and Mixed Use Development:
 
 
 
 
 
            New York City SMSA
3.1% - 49.5%
 
$
91,912

 
$
96,386

            All other U.S. areas
15.0% - 48.5%
 
29,144

 
28,763

 
 
 
121,056

 
125,149

Apartment Buildings:
 
 
 
 
 
            New York City SMSA
45.4%
 
9,344

 
10,910

            All other U.S. areas
7.6% - 16.3%
 
42

 
257

 
 
 
9,386

 
11,167

Hotels:
 
 
 
 
 
            New York City SMSA
5.2%
 
18,802

 
19,616

            International
49.0%
 
2,375

 
2,800

 
 
 
21,177

 
22,416

Commercial:
 
 
 
 
 
            New York City SMSA
49.0%
 
2,170

 
2,437

            All other U.S. areas
1.9%
 
15,657

 
15,642

 
 
 
17,827

 
18,079

 
 
 
 
 
 
Other
15.0% - 50.0%
 
11,565

 
11,320

Investments in real estate ventures
 
 
$
181,011

 
$
188,131


Contributions:

The components of New Valley’s contributions to its investments in real estate ventures were as follows:
 
Three Months Ended March 31,
 
2018
 
2017
Condominium and Mixed Use Development:
 
 
 
            New York City SMSA
$
533

 
$
91

            All other U.S. areas
—

 
1,345

Total contributions
$
533

 
$
1,436

Maximum Exposure to Loss:

New Valley’s maximum exposure to loss from its investments in real estate ventures consists of the net carrying value of the venture adjusted for any future capital commitments and/or guarantee arrangements. The maximum exposure to loss was as follows:
 
March 31, 2018
Condominium and Mixed Use Development:
 
            New York City SMSA
$
94,714

            All other U.S. areas
41,644

 
136,358

Apartment Buildings:
 
            All other U.S. areas
9,386

 
9,386

Hotels:
 
            New York City SMSA
18,802

            International
2,375

 
21,177

Commercial:
 
            New York City SMSA
2,170

            All other U.S. areas
15,657

 
17,827

Other
16,365

Total maximum exposure to loss
$
201,113
Combined Financial Statements for Unconsolidated Subsidiaries Long-term investments consisted of the following:
 
March 31, 2018
 
December 31, 2017
Equity securities at fair value that qualify for the NAV practical expedient
$
71,019

 
$
—

Investments accounted at cost
—

 
65,450

Equity-method investments
16,589

 
15,841

 
$
87,608

 
$
81,291

Equity-method investments consisted of the following:
 
March 31,
2018
 
December 31, 2017
Indian Creek Investors LP (“Indian Creek”)
$
5,484

 
$
4,498

Boyar Value Fund (“Boyar”)
8,927

 
9,026

Ladenburg Thalmann Financial Services Inc. (“LTS”)
2,178

 
2,317

Castle Brands, Inc. (“Castle”)
—

 
—

 
$
16,589

 
$
15,841

Condominium and Mixed Use Development:

 
Three Months Ended March 31,
 
2018
 
2017
Income Statement
 
 
 
Revenue
$
159,492

 
$
128,278

Cost of sales
115,182

 
102,195

Other expenses
23,775

 
2,769

Income from continuing operations
$
20,535

 
$
23,314
Investments in Real Estate, net Investments in Real Estate, net:

The components of “Investments in real estate, net” were as follows:
 
March 31,
2018
 
December 31,
2017
Escena, net
$
10,406

 
$
10,485

Sagaponack
13,822

 
13,467

            Investments in real estate, net
$
24,228

 
$
23,952



Escena.  The assets of “Escena, net” were as follows:
 
March 31,
2018
 
December 31,
2017
Land and land improvements
$
8,911

 
$
8,907

Building and building improvements
1,891

 
1,891

Other
2,131

 
2,111

 
12,933

 
12,909

Less accumulated depreciation
(2,527
)
 
(2,424
)
 
$
10,406

 
$
10,485