Exhibit 12.1

LEXINGTON REALTY TRUST

and Consolidated Subsidiaries

For the years ended December 31,

($000's)

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS

Earnings:	2011			2010			2009			2008			2007
Loss before benefit (provision) for income taxes, noncontrolling interest, equity in earnings (losses) of non-consolidated entities, gains on sale-affiliates and discontinued operations	$	(54,320	)	$	(27,032	)	$	(5,985	)	$	(1,381	)	$	(49,910	)
Interest expense	103,721			112,361			116,644			136,413			143,397
Amortization expense - debt cost	3,749			5,237			4,516			4,020			3,988
Cash received from joint ventures	11,689			4,590			20,948			28,052			17,388
Total	$	64,839		$	95,156		$	136,123		$	167,104		$	114,863
Fixed charges and Preferred Dividends:
Interest expense	$	103,721		$	112,361		$	116,644		$	136,413		$	143,397
Amortization expense - debt cost	3,749			5,237			4,516			4,020			3,988
Capitalized interest expense	1,792			791			778			350			277
Preferred stock dividends	24,507			24,872			25,281			26,915			26,733
Total	$	133,769		$	143,261		$	147,219		$	167,698		$	174,395
Ratio	N/A			N/A			N/A			N/A			N/A

N/A - Ratio is less than 1.0, deficit of $68,930, $48,105, $11,096, $594 and $59,532 exists at December 31, 2011, 2010, 2009, 2008 and 2007, respectively.