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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Securities
Investment securities at fair value consisted of the following:
December 31, 2022December 31, 2021
Debt securities available for sale$81,643 $103,906 
Equity securities at fair value:
     Marketable equity securities12,724 19,560 
     Mutual funds invested in debt securities22,069 23,221 
     Long-term investment securities at fair value (1)
28,919 32,089 
     Total equity securities at fair value63,712 74,870 
Total investment securities at fair value145,355 178,776 
Less:
     Long-term investment securities at fair value (1)
28,919 32,089 
Current investment securities at fair value$116,436 $146,687 
Long-term investment securities at fair value (1)
$28,919 $32,089 
Equity-method investments16,040 20,984 
     Total long-term investments$44,959 $53,073 
Equity securities at cost: (2)
     Other equity securities at cost$2,755 $5,200 
_____________________________
(1)     These assets are measured at net asset value (“NAV”) as a practical expedient under ASC 820.
(2)     These assets are without readily determinable fair values that do not qualify for the NAV practical expedient and are included in Other assets on the consolidated balance sheets.
The components of debt securities available for sale at December 31, 2022 were as follows:
CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Marketable debt securities$81,629 $14 $— $81,643 
The components of debt securities available for sale at December 31, 2021 were as follows:
CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Marketable debt securities$103,838 $68 $— $103,906 
The following is a summary of unrealized and realized net gains and losses recognized in net income on equity securities at fair value for the years ended December 31, 2022, 2021 and 2020, respectively:
Year Ended December 31,
202220212020
Net (losses) gains recognized on equity securities $(5,011)$9,615 $2,123 
Less: Net gains (losses) recognized on equity securities sold1,198 7,534 (121)
Net unrealized (losses) gains recognized on equity securities still held at the reporting date$(6,209)$2,081 $2,244 
Schedule of Net Gains Recognized
Net gains recognized on investment securities were as follows:
Year Ended December 31,
202220212020
Net (losses) gains recognized on equity securities at fair value$(5,011)$9,615 $2,123 
Net gains recognized on debt and equity securities available for sale6 45 110 
Impairment expense(2,975)(276)(415)
Net gains recognized on investment securities$(7,980)$9,384 $1,818 
Gross realized gains and losses recognized on debt securities available for sale were as follows:
Year Ended December 31,
202220212020
Gross realized gains on sales$8 $108 $329 
Gross realized losses on sales(2)(63)(219)
Net gains recognized on debt securities available for sale$6 $45 $110 
Impairment expense$(2,975)$(276)$(415)
Schedule of Maturity Dates of Fixed Income Securities
The table below summarizes the maturity dates of debt securities available for sale at December 31, 2022.
Investment Type:
Fair ValueUnder 1 Year1 Year up to 5 YearsMore than 5 Years
U.S. Government securities$779 $779 $— $— 
Corporate securities53,814 33,165 20,649 — 
U.S. mortgage-backed securities27,050 10,103 16,947 — 
Total debt securities available for sale by maturity dates
$81,643 $44,047 $37,596 $— 
Schedule of Equity Method Investments
Equity-method investments consisted of the following:
 December 31, 2022December 31, 2021
Mutual and hedge funds$16,040 $20,984 
Equity in (losses) earnings from investments were:
Year Ended December 31,
 202220212020
Mutual fund and hedge funds$(4,995)$2,675 $2,844 
Ladenburg Thalmann Financial Services Inc. — — 53,424 
Equity in (losses) earnings from investments$(4,995)$2,675 $56,268 
Pursuant to Rule 4-08(g), the following summarized financial data for unconsolidated subsidiaries includes information for the mutual fund and hedge funds.
December 31,
2022		December 31,
2021
Investment securities$299,389 $493,705 
Cash and cash equivalents2,860 44,644 
Other assets87,507 14,151 
    Total assets$389,756 $552,500 
Other liabilities$159,246 $214,607 
    Total liabilities159,246 214,607 
Partners’ capital230,510 337,893 
      Total liabilities and partners’ capital$389,756 $552,500 
Year Ended December 31,
202220212020
Investment income$3,209 $1,574 $1,779 
Expenses13,272 12,873 9,300 
    Net investment loss(10,063)(11,299)(7,521)
Total net realized gain and net change in unrealized depreciation from investments(84,466)48,342 123,381 
Net increase in partners’ capital resulting from operations$(94,529)$37,043 $115,860 
Pursuant to Rule 4-08(g), the following summarized financial data for unconsolidated subsidiaries includes information for the following: Other Condominium and Mixed Use Development, Apartment Buildings, Hotels, Commercial and Other.
Other Condominium and Mixed Use Development:
Year Ended December 31,
202220212020
Income Statements
Revenue$117,836 $301,703 $386,859 
Cost of sales63,618 317,894 302,234 
Other expenses143,619 117,985 270,642 
Loss from continuing operations$(89,401)$(134,176)$(186,017)
December 31,
2022		December 31,
2021
Balance Sheets
Investment in real estate$1,529,516 $1,434,205 
Total assets1,667,802 1,513,581 
Total debt1,193,638 1,107,366 
Total liabilities1,480,725 1,284,579 
Non-controlling interest73,391 63,781 
Apartment Buildings:
Year Ended December 31,
202220212020
Income Statements
Revenue$2,934 $35,213 $65,808 
Other expenses4,563 46,360 63,705 
(Loss) income from continuing operations$(1,629)$(11,147)$2,103 
December 31,
2022		December 31,
2021
Balance Sheets
Investment in real estate$64,350 $— 
Total assets68,664 6,780 
Total debt48,449 — 
Total liabilities49,722 131 
Non-controlling interest— 4,990 
Hotels:
Year Ended December 31,
202220212020
Income Statements
Revenue$166,169 $42,549 $130,742 
Cost of sales5,049 3,671 2,671 
Other expenses293,761 201,211 256,973 
Loss from continuing operations$(132,641)$(162,333)$(128,902)
December 31,
2022		December 31,
2021
Balance Sheets
Investment in real estate$1,580,798 $1,553,911 
Total assets1,651,072 1,631,664 
Total debt1,113,419 1,110,700 
Total liabilities1,281,161 1,213,044 
Non-controlling interest374,608 412,165 
Commercial:
Year Ended December 31,
202220212020
Income Statements
Revenue$10,226 $1,662 $7,911 
Equity in (losses) earnings37,690 24,383 (13,671)
Other expenses12,274 1,412 4,740 
Income (loss) from continuing operations$35,642 $24,633 $(10,500)
December 31,
2022		December 31,
2021
Balance Sheets
Investment in real estate$51,468 $51,173 
Total assets71,364 71,296 
Total debt56,394 55,625 
Total liabilities57,424 55,016 
Other:
Year Ended December 31,
202220212020
Income Statements
Revenue$6,761 $180,092 $571 
Other expenses21,548 303,352 48,633 
Loss from continuing operations$(14,787)$(123,260)$(48,062)
December 31,
2022		December 31,
2021
Balance Sheets
Investment in real estate$430,961 $392,754 
Total assets486,655 444,520 
Total debt321,587 227,724 
Total liabilities331,928 233,329 
Non-controlling interest112,141 152,775