Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Karst Jan F
 2. Date of Event Requiring Statement (Month/Day/Year)
01/13/2012		 3. Issuer Name and Ticker or Trading Symbol
W P CAREY & CO LLC [WPC]
(Last)
(First)
(Middle)
C/O W. P. CAREY & CO. LLC, 50 ROCKEFELLER PLAZA		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10020		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 39,868
D
 
Common Stock 4,997
I
By wife
Common Stock 2,658
I
Held in trust for minor child
Common Stock 4,113
I
Held in trust for minor child
Common Stock 3,644
I
Held in trust for minor child

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy)   (1) 06/30/2014 Common Stock 81 $ 29.78 D  
Employee Stock Option (right to buy)   (2) 06/30/2015 Common Stock 1,966 $ 29.28 D  
Employee Stock Option (right to buy)   (3) 12/31/2015 Common Stock 1,642 $ 25.36 D  
Employee Stock Option (right to buy)   (4) 06/30/2016 Common Stock 1,437 $ 25.32 D  
Employee Stock Option (right to buy)   (5) 12/31/2016 Common Stock 224 $ 30.07 D  
Employee Stock Option (right to buy)   (6) 06/30/2017 Common Stock 1,770 $ 31.45 D  
Employee Stock Option (right to buy)   (7) 12/31/2017 Common Stock 12,374 $ 33.2 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Karst Jan F
C/O W. P. CAREY & CO. LLC
50 ROCKEFELLER PLAZA
NEW YORK, NY 10020		     X    

Signatures

/s/ James A. Fitzgerald, Attorney-in-fact 01/23/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The options were fully vested upon grant but become exercisable in five equal annual installments beginning on 6/30/2009 and ending on 6/30/2013.
(2) The options were fully vested upon grant but become exercisable in five equal annual installments beginning on 6/30/2010 and ending on 6/30/2014.
(3) The options were fully vested upon grant but become exercisable in five equal annual installments beginning on 12/31/2010 and ending on 12/31/2014.
(4) The options were fully vested upon grant but become exercisable in five equal annual installments beginning on 6/30/2011 and ending on 6/30/2015.
(5) The options were fully vested upon grant but become exercisable in five equal annual installments beginning on 12/31/2011 and ending on 12/31/2015.
(6) The options were fully vested upon grant but become exercisable in five equal annual installments beginning on 06/30/2012 and ending on 6/30/2016.
(7) The options were fully vested upon grant but become exercisable in five equal annual installments beginning on 12/31/2012 and ending on 12/31/2016.
 
Remarks:
As of January 13, 2012, the Reporting Person was deemed to beneficially own more than 10% of the Issuer's outstanding Common Stock because on that date he was appointed as a co-executor of an estate that owns more than 10% of the Issuer's outstanding Common Stock.

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