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LICH Sale in Limbo As Losses Mount ENGAGEMENT RINK Most popular places to pop a certain CRAIN’S® question NEW YORK BUSINESS FPO PAGE 25 VOL. XXX, NO. 6 WWW.CRAINSNEWYORK.COM FEBRUARY 10-16, 2014 PRICE: $3.00 LICH sale in limbo as losses mount Legal challenges ice effort to right-size Brooklyn hospital that exists in name only BY DANIEL GEIGER Talks late last week broke down to set- tle a lawsuit that has barred SUNY Downstate Medical Center from sell- ing money-hemorrhaging Long Is- land College Hospital, casting doubt RIGHT PLACE, on whether SUNY could even offload RIGHT TIME: the Cobble Hill,Brooklyn,complex to The firm of Vincent one of four bidders Pitta, Robert Bishop and Jon Del Giorno seeking to redevel- op it into medical $15M (from left) and AMOUNT that others allied with facilities and af- Long Island winning candidates fordable housing. College Hospital could benefit from That develop- loses each month the city’s upended ment, occurring political order. late Friday, is the latest in a saga that 500 NUMBER OF has so far cost tax- LAYOFFS at SUNY payers hundreds of Downstate as a millions of dollars. result of funds If a settlement being diverted to can’t be reached by LICH Tuesday, SUNY Downstate, the $200M state-owned med- LOSS that SUNY City Hall’s Downstate will City Hall’s ical school and be left with even hospital operator, after it sells the will have to defend hospital itself in state Supreme Court in a case presided over by a former newnew ‘in’‘in’ crowdcrowd labor-union attorney, Judge Johnny Lee Baynes, who has blocked SUNY from selling the complex for the past Lobbyists behind BY CHRIS BRAGG who helped pave her path to victory, that year. might as well be the new mantra when it “This has been very costly for us,” the campaigns of In a packed Bronx auditorium one recent comes to signing clients. said H. Carl McCall, chairman of evening, hundreds of locals gathered to In the city’s radically new political or- SUNY’s board of trustees. “It was a ascendant power celebrate the election of the first Latina der, even the so-called permanent govern- mistake for SUNY to buy [LICH].” brokers are now City Council speaker, Melissa Mark- ment will see a shift. And lobbyists’ reput- The current impasse only under- Viverito, repeatedly chanting “¡Sí, se ed closeness to Mayor Bill de Blasio, scores that point. SUNY officials had puede!” For the lobbyists in the crowd See CITY HALL on Page 24 engaged in a whirlwind effort in recent poised to cash in weeks to sell the medical complex.The four potential buyers qualified for a fi- buck ennis See LICH on Page 22 06 5 REPORT SMALL BUSINESS THE LIST Overseas markets beckon. Plus: How NY area’s largest M&A crowdfunding helps women PAGE 13 deals PAGE 16 NEWSPAPER 71486 01068 0 EDITOR’S NOTE Traffickers FYICRAINSNEWYORK.COM So there on the TV news the Sunday they found the body of Philip Seymour Hoffman was an New looks on runways employee of a small business in my at Fashion Week West Village neighborhood who described the actor as a regular ew York Fashion Week kicked off last customer of the establishment. I week with a clunky snow boot rather have good reason to believe that than a dainty stiletto as eager Glenn Coleman N not a word of it was true, but my fashionistas navigated the city’s snow and slush reaction to the on-camera to attend the runway shows of brands such as BCBG Max Azria Nicole Miller comments was more eye-roll than outrage. You see, I and . ¶ With apparel had texted my Crain’s Morning 10 crew to make sure sales stagnant and spring several snowstorms the Monday edition of our 8 a.m. email news away, the retail industry certainly needs an newscom handcrafted summary included a link to the 40 Under 40 profile injection of energy. Industry insiders predict such action might come in the form of and artisanal looks with Navajo and Western influences of Mr. Hoffman that we had published in 2004. However, trends from seasons past, like There, readers could rediscover what kept the then- grunge, will also continue, as evidenced by the gothic and oversize looks that fashion house Nicholas K Oscarless actor, director and board member of the walked down the runway. ¶ In recent seasons, venues have become quite widespread for generates an estimated $865 million in economic activity off-Broadway Labyrinth Theater Co. rooted in New the semiannual event, which for the city. York, not L.A. Here, he told us, “I’m less worried In fact, some of the 116,000 attendees prefer to live-stream shows from the comfort of their about status, about where my career is at.” At least homes via the Internet, rather than splurge on Uber cars to trek out to Brooklyn, where edgy Alexander Wang my attempt to generate business off the sad news of a fashion darling is hosting his fall 2014 show. ¶ The real bellwether for fall styles, Marc Jacobs celebrity overdose was based on something true: Mr. however, will be , whose show is this Thursday. It could be the last Big Apple Hoffman did sit for an interview; he did come into appearance for the celebrated designer—Mr. Jacobs is considering moving his show to Paris as he Louis Vuitton our newsroom to have his photograph taken. Still, rejiggers his namesake label following his recent departure from . that West Village business and I were both guilty of —adrianne pasquarelli something. Call it a “see-lebrity” complex. New York AIRPORT UPGRADES TO TAKE OFF. The ued at more than $600 million. ... offers plenty of places where superstars play among Port Authority of New York and New DE BLASIO NAMES FINAL DEPUTY. HOORAY! us mere mortals. Fools that we be, we note where Jersey has earmarked $8 billion for Richard Buery, CEO of the Chil- RUSSIAN POLITICAL OUTCASTS from the improvements of the region’s three dren’s Aid Society and a Crain’s 40 punk band Pussy Riot appear and they live (see? Right down the street!), where they largest airports as part of its $27.6 bil- Under 40, was appointed deputy proselytize in New York City. shop (see? Totes his own groceries!), what they eat or lion, 10-year capital plan. Upgrades mayor for strategic initiatives.He will drink (wait, didn’t he just finish rehab?).That a include the rebuilding of La- spearhead the mayor’s plan for uni- Guardia’s main terminal building versal prekindergarten. … NEW fantastic talent lives nearby, grants you a nod in the and a $1.5 billion extension of PATH DOWNTOWN BOOSTER. Former City checkout line at D’Agostino, obviously confirms train service at Newark Liberty air- Councilwoman Jessica Lappin was how intelligent you were to buy your expensive port. … TOLL RELIEF. Staten Island named president of the Alliance for apartment, how savvy you were to ask for the same residents using E-ZPass to cross the Downtown New York, the lower Verrazano-Narrows Bridge will pay Manhattan group that oversees the quadruple espresso he always ordered. And it works. $5.50, down from as much as $6.36, city’s largest business improvement OY VEY! That West Village business saw a spike in customers BAM PREZ TO SING FINAL under a new plan announced by Gov. district. … RUSSIAN OFFICIALS BLOCKED delivery during a snowy slice of February. Our Web profile of Andrew Cuomo. Commercial trucks NOTE. Karen Brooks Hopkins will of 5,000 single- Mr. Hoffman saw a near-25-fold increase in page would see tolls drop step down as head of serve to $59.98 from the Brooklyn Acade- containers of views from the typical week. ‘I must be in New York- $73.52. … MORGAN my of Music next produced Chobani STANLEY SETTLES. some Third year after 35 years yogurt to the U.S. The investment firm team in the Sochi with the organiza- Olympics. THIS WEEK IN CRAIN’S has agreed to pay World tion. A search com- $1.25 billion to the country’ mittee has been IN THE BOROUGHS-------------------------- 3 Federal Housing Fi- —Vice President Joe Biden, formed to find her nance Agency to re- successor. Crain’s gain 18- to 49-year-old viewers. … IN THE MARKETS----------------------------------4 describing LaGuardia solve claims related to airport during a speech on named Ms.Hopkins, R.I.P. PHILIP SEYMOUR HOFFMAN. THE INSIDER -----------------------------------------------6 the sale of mortgage- how the nation’s 62, one of the city’s The 46-year-old, Academy Award- backed securities. … most powerful winning actor died of what appeared BUSINESS PEOPLE ---------------------------7 infrastructure is crumbling MICROSOFT CHECKS women in 2013. … to be a fatal overdose. Four people REAL ESTATE DEALS -----------------------9 IN WITH FOURSQUARE. The technol- CBS SCORES THURSDAY-NIGHT have been arrested in connection FOOTBALL. OPINION --------------------------------------------------------10 ogy giant has bought a $15 million The TV network will pay with the heroin police say was found stake in the location-based social- nearly $300 million to air eight early- in his Greenwich Village apartment. GREG DAVID--------------------------------------------11 media app. As part of the deal, loca- season football games, beating out The filmmakers behind Hunger CLASSIFIEDS -----------------------------------------18 tion data from Foursquare will appear Fox Sports 1 and NBC Sports Net- Games: Mockingjay Part 2, which he REPORT: SMALL BUSINESS in a voice-activated, Siri-like assis- work, which reportedly bid on the was in the middle of filming, plan to FOR THE RECORD---------------------------21 tant named Cortana, which will be package.
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