-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 P4Ph3Fp1m0HdqfchIh2rsI53WRdweksn1GtqqrrGkW5yWQsPffXKHl0fjZYS8plG
 fusZ5KsZvhJr9zTqaiONfQ==

<SEC-DOCUMENT>0001209191-06-041821.txt : 20060719
<SEC-HEADER>0001209191-06-041821.hdr.sgml : 20060719
<ACCEPTANCE-DATETIME>20060719191156
ACCESSION NUMBER:		0001209191-06-041821
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060719
FILED AS OF DATE:		20060719
DATE AS OF CHANGE:		20060719

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN REAL ESTATE PARTNERS L P
		CENTRAL INDEX KEY:			0000813762
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATORS OF NONRESIDENTIAL BUILDINGS [6512]
		IRS NUMBER:				133398766
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		100 SOUTH BEDFORD ROAD
		CITY:			MT KISCO
		STATE:			NY
		ZIP:			10549
		BUSINESS PHONE:		9142427700

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Moerman Hillel
		CENTRAL INDEX KEY:			0001369457

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09516
		FILM NUMBER:		06970264

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(212) 702-4349

	MAIL ADDRESS:	
		STREET 1:		767 FIFTH AVENUE, SUITE 4700
		STREET 2:		C/O ICAHN ASSOICATES CORP.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>bny23315_hmbny01.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2006-07-19</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000813762</issuerCik>
        <issuerName>AMERICAN REAL ESTATE PARTNERS L P</issuerName>
        <issuerTradingSymbol>ACP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001369457</rptOwnerCik>
            <rptOwnerName>Moerman Hillel</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ICAHN ASSOCIATES CORP.</rptOwnerStreet1>
            <rptOwnerStreet2>767 FIFTH AVENUE, SUITE 4700</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10153</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <remarks>No securities owned</remarks>

    <ownerSignature>
        <signatureName>/s/ Hillel Moerman</signatureName>
        <signatureDate>2006-07-19</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----