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May 03, 2015 10:03 AM ET

Real Estate Management and Development

Company Overview of New Valley LLC

Company Overview

New Valley LLC provides residential brokerage services in the United States and internationally. The company was founded in 1851 and is based in Miami, Florida with additional offices in New York, South Florida, and Southern California. As of December 9, 2005, New Valley LLC operates as a subsidiary of Vector Group Ltd.

4400 Biscayne Boulevard

10th Floor

Miami, FL 33137

United States

Founded in 1851

12 Employees

Phone:

305-579-8000

Fax:

305-579-8001

Key Executives for New Valley LLC

Chief Executive Officer, President, Chief Operating Officer, Director, Member of Executive Committee, Chairman of The Board of Ladenburg Thalmann Financial Services, President of Vector Group, Chief Operating Officer of Vector Group, Director of Vector Group and Director of Ladenburg Thalmann Financial Services
Age: 65
Chief Financial Officer, Vice President and Treasurer
Age: 49
Director, Chief Executive Officer - Ladenburg Thalmann Financial Services, President - Ladenburg Thalmann Financial Services and Director - Ladenburg Thalmann Financial Services
Age: 70
Executive Vice President, General Counsel, Director and Executive Vice President of Vector Group
Age: 60
Vice President, Secretary and Associate General Counsel
Age: 53
Compensation as of Fiscal Year 2014.

New Valley LLC Key Developments

Marriott International and Affiliates of The Witkoff Group and New Valley Partner to Develop Edition Hotel in West Hollywood

Marriott International and affiliates of The Witkoff Group and New Valley have signed agreements for the development of an EDITION Hotel and residences in West Hollywood, Calif. Marriott said it would manage the hotel, which is expected to open in 2018, under a long-term contract.

New Valley LLC Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

New Valley LLC announced unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported Revenue was $153,748,000 compared to $6,425,000 for the same period of last year. Pro-forma adjusted revenues were $153,748,000 compared to $133,962,000 for the same period of last year. Net income attributed to Vector Group Ltd. from subsidiary non-guarantors was $8,202,000 against $5,052,000 a year ago. EBITDA was $22,401,000 compared to $8,708,000 for the same period of last year. Pro-forma adjusted EBITDA attributed to the company were $13,677,000 compared to $12,217,000 for the same period of last year. For the nine months, the company reported Revenue was $415,280,000 compared to $19,298,000 for the same period of last year. Pro-forma adjusted revenues were $416,963,000 compared to $335,019,000 for the same period of last year. Net income attributed to Vector Group Ltd. from subsidiary non-guarantors was $17,661,000 against $9,136,000 a year ago. EBITDA was $53,711,000 compared to $15,932,000 for the same period of last year. Pro-forma adjusted EBITDA attributed to the company were $33,950,000 compared to $22,307,000 for the same period of last year.

Marriott International, Inc., Ian Schrager Company and the Witkoff Group, Winthrop Realty Trust, New Valley Llc and Maefield Development Announce Plans for Second EDITION Hotel in New York City

Marriott International, Inc. together with Ian Schrager Company and The Witkoff Group, Winthrop Realty Trust, New Valley LLC and Maefield Development announced plans for a second EDITION hotel in New York City. Scheduled to open in 2017 and located in the heart of Times Square, the new hotel will follow the expected 2015 debut of Manhattan's first EDITION property located in the Clock Tower building at 5 Madison Avenue. EDITION is a first class, full service, luxury lifestyle brand within the Marriott International portfolio, conceived in collaboration with legendary hotelier Ian Schrager. Marriott International will manage the hotel under a long-term agreement. Located at 701 Seventh Avenue, this will be the first hotel of this scale to be built in Times Square in over two decades. The hotel design will feature floor to ceiling windows with unobstructed views of Manhattan in 70% of the property's 452 guest rooms. The Times Square EDITION will be one component of a mixed use development which will feature 100,000 square feet of flagship retail, dining, entertainment and event space, as well an 18,000 square foot HD LED sign.

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