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New Valley LLC (Tables)
 6 Months Ended
Jun. 30, 2018
Real Estate [Abstract]  
Investments in real estate ventures Maximum Exposure to Loss:

New Valley’s maximum exposure to loss from its investments in real estate ventures consisted 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:
 
June 30, 2018
Condominium and Mixed Use Development:
 
            New York City SMSA
$
63,598

            All other U.S. areas
42,253

 
105,851

Apartment Buildings:
 
            All other U.S. areas
7,669

 
7,669

Hotels:
 
            New York City SMSA
18,333

            International
2,232

 
20,565

Commercial:
 
            New York City SMSA
2,049

            All other U.S. areas
16,444

 
18,493

Other
19,446

Total maximum exposure to loss
$
172,024

Equity in Earnings (Losses) from Real Estate Ventures:

New Valley recognized equity in earnings (losses) from real estate ventures as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Condominium and Mixed Use Development:
 
 
 
 
 
 
 
            New York City SMSA
$
(152
)
 
$
17,116

 
$
(3,613
)
 
$
29,296

            All other U.S. areas
(321
)
 
(863
)
 
(826
)
 
(1,155
)
 
(473
)
 
16,253

 
(4,439
)
 
28,141

Apartment Buildings:
 
 
 
 
 
 
 
            All other U.S. areas
(1,717
)
 
(724
)
 
(3,297
)
 
(647
)
 
(1,717
)
 
(724
)
 
(3,297
)
 
(647
)
Hotels:
 
 
 
 
 
 
 
            New York City SMSA
(636
)
 
(519
)
 
(1,450
)
 
(1,206
)
            International
(143
)
 
254

 
(568
)
 
(296
)
 
(779
)
 
(265
)
 
(2,018
)
 
(1,502
)
Commercial:
 
 
 
 
 
 
 
            New York City SMSA
(121
)
 
(124
)
 
(388
)
 
(369
)
            All other U.S. areas
913

 
(64
)
 
1,143

 
(64
)
 
792

 
(188
)
 
755

 
(433
)
 
 
 
 
 
 
 
 
Other
65

 
215

 
327

 
845

Equity in (losses) earnings from real estate ventures
$
(2,112
)
 
$
15,291

 
$
(8,672
)
 
$
26,404

Distributions:

The components of distributions received by New Valley from its investments in real estate ventures were as follows:
 
Six Months Ended June 30,
 
2018
 
2017
Condominium and Mixed Use Development:
 
 
 
            New York City SMSA
$
34,490

 
$
31,280

            All other U.S. areas
—

 
17,949

 
34,490

 
49,229

Apartment Buildings:
 
 
 
            All other U.S. areas
201

 
182

 
201

 
182

Hotels:
 
 
 
            International
—

 
239

 
—

 
239

Commercial:
 
 
 
            New York City SMSA
—

 
101

            All other U.S. areas
341

 
92

 
341

 
193

 
 
 
 
Other
644

 
1,150

Total distributions
$
35,676

 
$
50,993

The components of “Investments in real estate ventures” were as follows:
 
Range of Ownership
 
June 30, 2018
 
December 31, 2017
Condominium and Mixed Use Development:
 
 
 
 
 
            New York City SMSA
3.1% - 49.5%
 
$
60,238

 
$
96,386

            All other U.S. areas
15.0% - 48.5%
 
29,753

 
28,763

 
 
 
89,991

 
125,149

Apartment Buildings:
 
 
 
 
 
            New York City SMSA
45.4%
 
7,627

 
10,910

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

 
257

 
 
 
7,669

 
11,167

Hotels:
 
 
 
 
 
            New York City SMSA
5.2%
 
18,333

 
19,616

            International
49.0%
 
2,232

 
2,800

 
 
 
20,565

 
22,416

Commercial:
 
 
 
 
 
            New York City SMSA
49.0%
 
2,049

 
2,437

            All other U.S. areas
1.9%
 
16,444

 
15,642

 
 
 
18,493

 
18,079

 
 
 
 
 
 
Other
15.0% - 50.0%
 
14,646

 
11,320

Investments in real estate ventures
 
 
$
151,364

 
$
188,131


Contributions:

The components of New Valley’s contributions to its investments in real estate ventures were as follows:
 
Six Months Ended June 30,
 
2018
 
2017
Condominium and Mixed Use Development:
 
 
 
            New York City SMSA
$
533

 
$
675

            All other U.S. areas
—

 
6,242

 
533

 
6,917

Hotels:
 
 
 
            New York City SMSA
167

 
1,537

 
167

 
1,537

 
 
 
 
Other
3,643

 
—

Total contributions
$
4,343

 
$
8,454
Combined Financial Statements for Unconsolidated Subsidiaries Equity-method investments consisted of the following:
 
June 30,
2018
 
December 31, 2017
Indian Creek Investors LP (“Indian Creek”)
$
10,090

 
$
4,498

Boyar Value Fund (“Boyar”)
8,975

 
9,026

Ladenburg Thalmann Financial Services Inc. (“LTS”)
1,947

 
2,317

Castle Brands, Inc. (“Castle”)
—

 
—

 
$
21,012

 
$
15,841

Long-term investments consisted of the following:
 
June 30, 2018
 
December 31, 2017
Equity securities at fair value that qualify for the NAV practical expedient
$
72,524

 
$
—

Investments accounted at cost
—

 
65,450

Equity-method investments
21,012

 
15,841

 
$
93,536

 
$
81,291

Condominium and Mixed Use Development:

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Income Statement
 
 
 
 
 
 
 
Revenue
$
61

 
$
102,049

 
$
28,045

 
$
162,384

Cost of sales
(9,351
)
 
49,037

 
16,671

 
101,879

Other expenses
1,497

 
1,974

 
147,379

 
4,682

Income from continuing operations
$
7,915

 
$
51,038

 
$
(136,005
)
 
$
55,823
Investments in Real Estate, net Investments in Real Estate, net:

The components of “Investments in real estate, net” were as follows:
 
June 30,
2018
 
December 31,
2017
Escena, net
$
10,305

 
$
10,485

Sagaponack
14,476

 
13,467

            Investments in real estate, net
$
24,781

 
$
23,952



Escena.  The assets of “Escena, net” were as follows:
 
June 30,
2018
 
December 31,
2017
Land and land improvements
$
8,911

 
$
8,907

Building and building improvements
1,891

 
1,891

Other
2,133

 
2,111

 
12,935

 
12,909

Less accumulated depreciation
(2,630
)
 
(2,424
)
 
$
10,305

 
$
10,485