20140818-NEWS--0001-NAT-CCI-CN_-- 8/15/2014 6:05 PM Page 1

DOGS GET THEIR DAY: Personal trainers, artisanal food, water therapy. Pet care hits highest level yet CRAIN’S® BUSINESS P. 29

VOL. XXX, NOS. 33, 34 WWW.CRAINSNEWYORK.COM DOUBLE ISSUE AUGUST 18-31, 2014 PRICE: $3.00

Grassroots Bloomberg Writ large Progressive Partnership ChirlaneJobs Rev. Al Sharpton Bratton Economy Queens Giuliani Game-changer Labor Poverty Brooklyn Pre-KDante Stop-and-frisk Equality Dinkins Bronx Affordable housing I’m going to start Staten Island WORDS’ WORTH: A Crain’s review of Mayor Bill de Blasio’s public statements through June 30 shows he said “pre-K” 528 times, “business” 182 times, and catchphrases like “game- changer” or “transcendent” ChildrenTranscendent Koch about a dozen times each. Chiara Business Source: Mayoral transcripts Stats How’s Bill de Blasio shifting and the resources, rhetoric to push City agenda? It’s all in the data Steve Hindy on BY ANDREW HAWKINS zero traffic Bill de Blasio rode to the mayoralty in 2013 on a wave of deaths P. 9 promises: citywide prekindergarten, more help for the downtrodden, politer policing, fewer traffic deaths and Greg David on greater focus on the boroughs beyond Manhattan. His housing’s bad empathetic oratory has been a departure from the busi- nesslike pronouncements of his data-focused predeces- math P. 9 sor, Michael Bloomberg. But Mr. de Blasio’s efforts can PLUS: Charts! just as well be quantified—as can his rhetoric. Charts! To begin with, Mr. de Blasio has grown ’s government to execute his progressive agenda. Charts! His first budget totaled $75 billion—$5 billion more PAGES 10-21 See DE BLASIO on Page 25 ap images App for ‘sketchy’ nabes attacked as ‘fear sourcing’

ROUGH START: Founders The musician Questlove tweeted Duo faces perils of bringing concept to market before it’s vetted Daniel Herrington and Allison to his 3 million followers: “Will McGuire say SketchFactor is an instrument of good. @sketchbegone also deal w/5-0 That’s the lesson Manhattan- Factor was hoping to do good by al- brutality/school shootings? or just BY THORNTON MCENERY based SketchFactor confronted lowing users walking around cities undesirable skittle connoisseurs of when it launched its location-based to point out, in real time, potential the world.” When your business plan depends app on Aug.7.Like other tech start- dangers lurking around the corner. That tweet was one barb among on the wisdom of crowds, beware ups that have found lucre by mone- But its launch, first reported by many, but with its reference to the the angry mob. tizing the power of “we,” Sketch- Crain’s, provoked an immediate police and the snack found on furor with social-media shooting victim Trayvon Martin—

34 mavens and opinionistas in and coming just a day before an un-

5 the blogosphere accusing armed African-American near St. SketchFactor’s founders Louis was killed by cops—it encap- of creating a racial- sulated the kind of blowback that profiling app. Crowd- can trip up entrepreneurs with source? More like “fear social-minded businesses. sourcing,” critics said. See BACKLASH on Page 27 NEWSPAPER 71486 01068 0 20140818-NEWS--0002-NAT-CCI-CN_-- 8/15/2014 5:25 PM Page 1

ASSISTANT M.E.’S NOTE

Train of thought FYICRAINSNEWYORK.COM

A decade ago, a friend visiting from Minnesota was taking the ’16 Dem convention could subway with me from Manhattan to my lifelong neighborhood of generate windfall for city Park Slope. She’s an urban planner, hether or not a Brooklyn interested in how cities function, so convention helps Democrats I alerted her to a phenomenon I keep the White House, it would had observed since childhood, W Erik Engquist likely be a net gain for the city’s economy. ¶ even though I was a bit Brooklyn’s Barclays Center holds 18,103 embarrassed by it. “Watch this,” I people. If Mayor Bill de Blasio is successful said as we pulled into Grand Army Plaza, the stop at in wooing the Democratic National the end of my daily commute. “Every white person Convention to Kings County in 2016, the in this car is about to get off.” She looked around: event could attract twice that number. ¶ In 2012, the DNC in Charlotte, N.C., drew 35,000 There were dozens of white people in the car, and Dems for three days and spurred $163.6 million in spending, according to a study sponsored about as many people of color. She later told me that by Charlotte-based business groups. A Brooklyn convention should top that. ¶ Democrats say she assumed I was exaggerating. But darned if every it would generate at least the $250 million in economic activity of the 2004 Republican National last white person didn’t exit. She was stunned. And Convention at Madison Square Garden—minus the police overtime and legal costs associated she didn’t even know that the next stop, Eastern with that year’s protesters. (A different study by Suffolk University placed that figure at $163 Parkway, was just a few blocks away (albeit in a million, similar to the Charlotte DNC and nearly 40% less than the $260 million quoted by different neighborhood, Prospect Heights). But not the Bloomberg administration.) ¶ Although the city would spend less on security, logistics long after that, I began noticing that every so often, would take a toll: The de Blasio administration said it would dedicate traffic lanes to shuttle some white straphangers would continue past Park attendees who don’t find hotel space near Barclays. ¶ Deep-blue New York is up against Slope.Then it became common.Today it is swing-state cities Philadelphia, Cleveland and Columbus, Ohio, as well as solid-red Phoenix inevitable. In fact, my subway line remains diverse— and Birmingham, Ala. A final decision will be made after the midterm elections in dare I say integrated—beyond Prospect Heights into November. —andrew j. hawkins Crown Heights (I know from friends who live there, and also from occasionally sleeping past my stop). MOVE OVER, MANHATTAN. San Fran- derfunding, neglect and mismanage- cisco may soon surpass Manhattan as ment have led to an $18 billion repair HOORAY! Similar change has been happening across the city having the country’s most expensive bill for the New York City Housing MORE since crime rates plunged and housing costs surged. commercial real estate.Office rents in Authority and a $77 million budget WHALES the City by the Bay are expected to deficit. … FEEL THE BUZZ. A $50 mil- are seen in Indeed, it seems to be accelerating: A graphic on New York Page 16 in our annual Stats and the City section climb to $69.71 a square foot by the lion investment valued viral news site Harbor, end of next year, up almost 18% from BuzzFeed at $850 million, making it thanks to shows median home values went up about 30% over the second quarter. Manhattan rents more valuable in theory than old-line cleaner waters. 12 months in formerly homogeneous Bushwick, are likely to rise 6.5%, to $69.68. … print pubs The Washington Post and Washington Heights, Borough Park, Bed-Stuy and RECORD SETTLEMENT. Bank of Amer- the Los Angeles Times combined. … QUIRKY EYES HOME-APPLIANCE RIVAL. Hamilton Heights. Some people lament it, calling it ica and the U.S. Justice Department reached a tentative $16 billion settle- The Manhattan consumer-electron- raslich-gotham whale artie gentrification. Which it is. Yet I hope my friend ment over the bank’s alleged sale of ics startup, partnering with private- from Minnesota returns for another subway ride, so I faulty mortgage securities. The deal equity giants including Blackstone OY VEY! can show her the progress we’ve made. I’m certain includes a $9 billion cash penalty and Group,is putting in a bid to buy a ma- BEDBUGS were spotted on a 7 train, the would represent the jority stake in Gener- third line to be infested with the vermin. she will be stunned once again. largest sum the DOJ ‘And you al Electric’s home- has ever extracted appliance business. It from a single compa- know what is vying with Stock- THIS WEEK IN CRAIN’S ny. … GAME holm-based Elec- CHANGER. Tennis you learn if trolux AB for the GE IN THE BOROUGHS------3 fans will be closer to you’re a New unit, which could the U.S. Open action fetch at least $2 bil- IN THE MARKETS------4 at Arthur Ashe Sta- Yorker? The lion. … HALF-PRICE THE INSIDER ------6 dium, thanks to a world doesn’t HARLEM. The 2013 konefal by wally illustration photo $550 million, multi- median sales price for BUSINESS PEOPLE ------7 year renovation that owe you a a condo in central advertise the financing of a show to OPINION------8 has moved 1,000 Harlem, $600,000, accredited investors.The Kagans’ On damn thing’ SOME- STEVE HINDY------9 seats to the lower lev- was about half that in the Town opens Oct. 16. … el and will eventually —Lauren Bacall, who died Manhattan below BODY BEAT THE WIZ. Marvin Jemal, GREG DAVID ------9 include a retractable Aug. 12, as quoted by 96th Street. That’s who co-founded defunct appliance roof. … OH-NO-PHILE. The New York Times in one reason Harlem store Nobody Beats the Wiz, plead- STATS AND THE CITY ------10 her obituary Rudy Kurniawan was home sales rose 57% ed guilty Aug.7 to charges that he de- CLASSIFIEDS ------22 sentenced to 10 years in prison and in the second quarter. … SHOW BUSI- frauded a bank by providing fake in- SMALL BUSINESS NESS. NEW YORK, NEW YORK ------29 ordered to pay more than $28 million Tony-winning producers voices and shipping documents in Bohemia Realty’s Sarah for defrauding wealthy clients by sell- Howard and Janet Kagan became the exchange for $7 million in loans for a Saltzberg discovers sales talent SOURCE LUNCH------30 in NY’s performing-arts ing bottles of rare wine that were ac- first on to take advantage luggage business he ran. Sentencing community. P. 5 OUT AND ABOUT ------31 tually blends made in his kitchen. … of new Securities and Exchange guidelines suggest he’ll get four years PUBLIC-HOUSING COSTS. Years of un- Commission rules allowing them to in prison. —jeremy smerd CORRECTIONS (SEE PAGE 27)

vol.xxx,nos.33,34,august 18,2014—Crain’s New York Business (ISSN 8756-789x) is published weekly,except for double issues the weeks of June 23,July 7,July 21,Aug.4,Aug.18 and Dec. STORIES TO WATCH THIS WEEK 22, by Crain Communications Inc., 685 Third Ave., New York, NY 10017. Periodicals postage paid at New York, N.Y., and additional mailing offices. Postmaster: Send address changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, Aug. 21: Teen Aug. 26: Final Aug. 29: Electric Aug. 29: J.C. MI 48207-2912. for subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 one retailer Aéropostale Chelsea Lately Zoo music festival; Penney opens year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2014 by Crain Communications Inc. All rights reserved. reports 2Q 2014 episode, taped in Attendees must B’klyn store at earnings. NYC, airs. view antidrug PSA Gateway Center.

2 | Crain’s New York Business | August 18, 2014 20140818-NEWS--0003-NAT-CCI-CN_-- 8/15/2014 5:26 PM Page 1

IN THE BOROUGHS MANHATTAN Union Sq. foodies get focused Mono-menued spots bet all on one dish and a young crowd

BY KERRY MURTHA

Variety may be the spice of life, but the owners of more than a half- dozen eateries around Manhattan’s DANNY MEYER’S consulting Union Square have placed the oppo- arm, Hospitality Quotient, run site bet in recent months. All have by Susan Salgado, is making inroads in the hospitality- opened with menus built around a challenged health care single, signature type of fare. industry. Among those mono-menued spots is Desi Shack at 135 Fourth Ave.,serving Pakistani-style basmati rice bowls for $8.50; Baohaus at 238 E. 14th St., where minced pork, chicken and fish stew can be had for

catheriine gibbons catheriine around $10;and Pizza Vinoteca at 15 Union Square West, pairing high- end pie with wine for under $20. Nearby, Cevich at 21 E. 15th St. does a brisk business selling Latin- Paging Dr. Danny Meyer ... American cold-seafood ceviches; Vivi Bubble Tea at 226 E. 14th St. brews exactly what its name sug- in the hospital every three weeks. tention he sorely needed. workshops draw from the hospital- gests; and at 20 Union Square, Restaurant guru “I felt every time I saw him I was The nurse’s successful interven- ity industry, teaching medical Mighty Pie plates a flaky Turkish in demand to teach starting over again,” said Dr. Julie tion was driven not by some new staffers, for example, to offer pa- pastry called borek that costs about Patel-Pannullo, the man’s primary medical protocol,but by a company- tients options rather than a curt “no” $5. All are seeking to tap into the docs, hospitals how care doctor. “That was my frustra- wide initiative aimed at improving to a request. neighborhood’s large,diverse crowds to improve service tion as his physician.” customer service at AdvantageCare, The idea that a patient is a guest that skew toward the youthful. But several months ago, a nurse a nearly 3,000-employee medical who can take his or her business Far from dismissing these arriv- in Dr. Patel-Pannullo’s medical practice with offices throughout the elsewhere, and that doctors are re- istes as the spawns of the latest fads, BY LISA FICKENSCHER practice, AdvantageCare Physi- city and Long Island. sponsible for cultivating customer some restaurant insiders insist that cians, broke the cycle. The patient Last year, AdvantageCare hired loyalty, remains a novel idea in the historic roots of such places run The patient—a heavy smoker and came in to meet with the nurse restaurateur Danny Meyer’s con- health care, though one that is deep. an alcoholic—frequently neglected every Friday for about 15 minutes sulting arm, Hospitality Quotient, gaining traction. “Restaurants [in the old days] to take his medications, and had no as she organized his medications in or HQ, to train its entire staff—in- “We didn’t learn anything like were always more limited in their one to help him at home in Jamaica, a pillbox, contacted his pharmacy cluding doctors—on how to be this in medical school,” said Dr. food offerings,” said Howard Can- Queens.Like clockwork,he landed and simply gave him the extra at- more empathetic. The full-day See HOSPITALS on Page 26 See EATERIES on Page 28 9 of 10 building plans fail basic test

stopped nonconforming projects in potential costs of compliance in said Angela Pinsky, a senior vice and air-conditioning systems,walls City crackdown on their tracks. terms of time and money. Looming president of management services and windows all met code stan- violations of energy “We’re very serious about this, additions to the building code over and government affairs with the dards. That pilot program was part and are trying to educate the indus- the next year only fan the concerns. Real Estate Board of New York, of his 30/30 goal of cutting carbon code trips up many try on what is required,” said Gina “The energy code can be an ef- which is currently consulting with emissions here by 30% by 2030. proposed properties Bocra, chief sustainability offi- fective way to increase efficiency if it the city on code changes. This year,under the de Blasio ad- cer at the DOB, which set up remains flexible, but the more Several changes already are un- ministration and Ms. Bocra, the a permanent audit unit mandatory and prescriptive any der consideration, including a po- training wheels have come off, and BY JOE ANUTA about eight months ago. code is, the more difficult it is to tential requirement for developers the team has audited more than “Buildings are the largest build a building that complies— to purchase pricey sensors that reg- 1,200 applications, with plans to Earlier this year, the city’s Depart- source of energy con- particularly in New York City,” ulate building systems depending eventually quadruple that number ment of Buildings began auditing sumption in our city, and on how many people are present, annually. thousands of architectural plans for how we conserve ener- and another that might require The new scrutiny might take new and renovated office and resi- gy is key to making WEATHER rooms to be more airtight. some in the development commu- dential buildings. The results have progress on reducing The effort began under nity by surprise. The first energy been staggering: nine of every 10 greenhouse-gas emis- (OR NOT) Mayor Michael code was set in place in the 1970s. have failed to meet the energy code, sions.” Most glass-box office Bloomberg last year, Subsequently, the city passed its a set of standards that have been on As laudable as when he assigned audi- own version but rarely enforced it. towers have less the books for more than 30 years but the motivation tors to pore over 212 Not surprisingly, sustainability are only now being enforced in might be, some insulation than randomly selected advocates have hailed the city’s new earnest. people are fret- properties built building to ensure initiative, and noted that the high centuries ago See ENERGY on Page 26 In some cases,the DOB has even ting about the buck ennis; istockphoto that lighting, heating

August 18, 2014 | Crain’s New York Business | 3 20140818-NEWS--0004-NAT-CCI-CN_-- 8/15/2014 5:24 PM Page 1 IN THE Bankers, it seems, are ready MARKETS to believe in themselves again by Aaron Elstein

grappling with the crisis’ aftermath. try whose health is vital to the city Eyeing better times Under pressure from regulators to and state’s well-being. Wall Street ahead, New York’s slim down and simplify, JPMorgan on its own accounts for 22% of all Chase in mid-August agreed to sell private-sector wages in the city,even finance industry gets about half its stake in its leveraged- though it represents only 5% of set to roll the dice buyout firm, . private-sector jobs. Morgan Stanley is moving ahead John Ricco, co-founder of the with the sale of part of its oil- Atlantic Group, a recruiting firm BY AARON ELSTEIN trading business to Russia’s Rosneft. that specializes in the financial- That continuing shrinkage helps services industry,said people offered Wall Street is starting to build itself explain why Wall Street head count temporary positions at banks are back up for the first time in years, as remains depressed. The latest fig- now starting to move to permanent the robust stock market and eco- slots, and even people who have nomic recovery lure bankers from been out of work for longer periods their bunkers. ‘A new Wall St. are finding jobs at competitive pay Last month, business lender rates. CIT Group, which is run by former is emerging “The recovery is starting to take Merrill Lynch chief John Thain, shape,” Mr. Ricco said.“Companies struck a $3.4 billion deal to acquire from the forest finally are starting to really believe

California-based bank OneWest. A they’ll need people and grow again.” ap images few weeks later, merger-advisory fire of 2008’ Growth is much on the mind of specialist Evercore Partners made a CIT,which has been in the financial deal of its own by agreeing to acquire rehab ward for several years. Merg- ISI Group, a firm with a stable of ing with OneWest would transform ‘Try harder’ car well-regarded research analysts. the lender, which sank into bank- Small and midsize institutions that ures from the state Department of ruptcy five years ago when its fund- grew out of the ashes of the financial Labor show 168,400 New Yorkers ing disappeared into a financial in- renter hits the gas crisis are adding staff or even con- worked in the securities business at stitution that’s now officially too big sidering initial public offerings in the end of July, essentially un- to fail—or, as regulators put it, “sys- wake of the 40% rise in Moelis & changed from a year ago. Smaller temically important.” OneWest he hottest stock around isn’t a social-media play. It’s a Co. shares since that boutique in- firms will have to hire a lot of people would bring about 2,200 employees, Avis Budget vestment bank went public in April. to offset declines at the big banks, nearly all based in Los Angeles, to car-rental company. For real: Shares in “We’re seeing green shoots, a which now number five, half as CIT’s 3,200 staff, about 450 of Group Inc. are up 69% this year and hit an all-time new Wall Street emerge from the T many as before the crisis. whom work in New York. high of $68.14 on Aug. 15.That makes the Parsippany, N.J.- forest fire in 2008,”said analyst Brad Still,the fact that many small and Signaling how much Wall Street based we-try-harder folks the top-performing stock in the Hintz of AllianceBernstein. midsize Wall Street firms are begin- dealmakers feel like rolling the dice While the green shoots are un- ning to expand into new markets again, CIT’s Mr. Thain is betting Bloomberg/Crain’s index of 200 New York-area companies. doubtedly encouraging,they remain and financial services suggests bet- that regulators will endorse his am- As with any car-rental contract, there’s fine print. And here dwarfed by towering giants still ter times may lie ahead for an indus- See BETTER TIMES on Page 26 is some for the purposes of this col- rentals in the hands of Hertz, Avis umn:There’s actually a local biotech Budget and Enterprise (which also stock (Enzo Biochem) that’s up even controls the Alamo and National more than Avis Budget. But we’re brands), the Federal Trade Com- going to ignore that one because its mission forced Hertz to sell dis- percentage gains are magnified by counter Advantage last year. The re- The Durst Organization Welcomes the shares’ minuscule price. sult: Advantage filed for bankruptcy Anyway, what’s so great about last November, and its assets were the car-rental business? As anyone scooped up by a private-equity firm. Fedcap Rehabilitation Services, Inc. who has rented a car lately knows, It’s a good bet that the car-rental prices are up. A lot. Avis Budget oligopoly will last a while longer. happily reports that prices have in- Startups like Uber and Lyft are taking to 205 East . creased for six consecutive quarters, on the taxi business, but Silicon including a hefty 6% rise in leisure Valley’s attempts to take on the $24 rates in the most recent one. And billion car-rental industry have yet don’t forget the profits from selling to gain traction. A venture-capital- insurance to the weekend-getaway backed upstart called Silvercar rents Our appreciation to Ira Schuman, David Carlos crowd, or gas at above-market rates. vehicles at eight airports in the “I’m probably more enthusiastic West and South but not here. Sor- about our business than I’ve ever ry, New York’s eye-popping car- and Kurt Handschumacher of Savills Studley been,” cooed CEO Ron Nelson on a rental rates won’t fall any time soon. call with investors this month. Until then, Avis Budget sees for this 64,303 SF transaction. One big reason is that competi- nothing but open roads,forecasting tion has withered in the past year or record profits for the third quarter two, paving the way for price hikes. and anticipating that full-year rev- Avis Budget, for instance, snapped enue will reach $8.7 billion, a 10% up Zipcar for $500 million last year, increase over 2013. That growth and then bought discount renter rate is twice the pace analysts cur- Payless for $50 million. More sig- rently project at Apple and just be- nificantly, Hertz bought rental giant low the 11% expected at Google, Dollar Thrifty for $2.3 billion in 2012. which admittedly are much larger Noting that the Dollar Thrifty firms. That’s some kind of compa- 205E42 sale would put 98% of airport car ny for a car renter to be keeping. Ⅲ INCREASE in the Rental and Leasehold Condominium Opportunities Available price of coffee so 71% far this year. The Please contact Tom Bow [email protected] 212.257.6610 www.durst.org beans have perked up to $1.89 a pound in New York futures trading after two years of steady declines. The culprit is a severe drought in Brazil.

4 | Crain’s New York Business | August 18, 2014 20140818-NEWS--0005-NAT-CCI-CN_-- 8/14/2014 5:31 PM Page 1

SMALL BUSINESS Performers play starring role at Harlem brokerage Firm’s flexibility any response at all,” said Ms. an artistic commitment. Saltzberg. “I love that balance and Still, Bohemia’s work ethic is attracts actors, the instant-gratification aspect.” anything but casual. “The goal is to make [the staff ’s] lives as comfort- writers, directors A steady day job able as possible as long as they’re hit- One secret to Bohemia Realty’s ting their numbers,” Ms. Saltzberg fast growth is hiring actors, writers, said, noting that brokers are expect- BY TRIPP WHETSELL directors,filmmakers and musicians ed to maintain client contact even who want to earn a steady income after the sale or rental is completed. ew York can be a tough while following their dreams. The The large proportion of perform- town when you’re try- show-business crowd has also ers on Bohemia Realty’s staff is un- ing to make it big in formed a large segment of the firm’s usual in the field,according to Steven buck ennis showbiz.Ditto when it client base. Spinola, president of the Real Estate CREATIVE CASTING: Bohemia Realty’s co-founder Sarah Saltzberg has built a thriving brand by comes to the role of “People in the arts are Board of New York. discovering sales talent in New York’s performing-arts community. Nreal estate broker.But don’t tell that to a tight-knit group with “I think they recog- actress, writer, producer and real es- specialized needs,” said $20.26 nize that when you’re tate entrepreneur Sarah Saltzberg. Ms. Saltzberg, who is MEDIAN HOURLY out there selling real es- Wasserstein—the late playwright, in five other Broadway shows. Her The 38-year-old native of Need- looking to open new of- WAGE for actors, tate that it’s not very dis- for whose daughter Ms. Saltzberg latest creative ventures include a new U.S. ham, Mass., who is a co-founder of fices and expand into ad- Source: Bureau of Labor similar to what one babysat between waitressing—to musical called Gettin’ the Band Back Bohemia Realty Group in Harlem, ditional markets in East Statistics needs when getting up get her seriously thinking about Together,a TV pilot and teaching im- sees her dual career in theater and Harlem and Brooklyn. on stage and making a showing apartments as a way to raise prov classes. real estate as a powerful calling. Es- “Not only do we encourage that, it’s character believable,” Mr. Spinola money for her first show, she said. Bohemia’s Michaela Morton, tablished in 2012, the residential part of our brand.” Meanwhile, this said. “It’s those same traits that are The show happened to be The 25th 23—an understudy in the Ballybeg and commercial firm has grown to philosophy has helped attract and invaluable when it comes to being Annual Putnam County Spelling Bee, theater’s The Taste of It—and a li- 70 agents who handle sales and retain new brokers, 50% of whom able to make the case for what is pos- the 2005 Tony Award-winning mu- censed real estate agent,finds that the rentals from Inwood to the Upper are former customers. itive about the real estate they are sical Ms. Saltzberg co-created and job complements her performing. “I West Side;its revenue last year came Inside Bohemia Realty’s candle- showing. Bohemia believed that in which she starred on Broadway. think every actor is an entrepreneur in to more than $3.5 million.Her part- scented offices on Frederick Doug- most people in the arts could be the sense that you’re building a ner is Jon Goodell, a psychologist lass Boulevard, music plays in the good at it, and they’ve proved to be ‘Every actor is an entrepreneur’ brand,” she said. “These skills trans- whom she met when she rented him background,and photographs of the correct.” Since that time,she has been a top late well when it comes to working in an apartment in 2004. Apollo Theater and vintage subway After graduating from Boston salesperson for two real estate firms, real estate at Bohemia.” Ⅲ Ms. Saltzberg welcomes the cars dot the walls. Perks for the sales University’s theater arts program, co-written the nationally touring clarity of the business world.“You’re force include an extensive mentor- Ms.Saltzberg got into real estate ac- comedy Miss Abigail’s Guide to Dat- To sign up for Crain’s making a deal or you’re not, as op- ship program, the option to bring cidentally at the urging of another ing, Mating, and Marriage, appeared SMALL BUSINESS newsletter, go to posed to auditions, where you often pets to work,free fitness training ses- actor who had just become a broker. in the film City Island and on Show- www.crainsnewyork.com/smallbiz. think you did well but then don’t get sions and backup when someone has It took a nudge from Wendy time’s series The Big C, and invested

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August 18, 2014 | Crain’s New York Business | 5 20140818-NEWS--0006-NAT-CCI-CN_-- 8/15/2014 5:27 PM Page 1 THE law essentially necessitates that by turn to these loans … often end up in paign arm has been pumping more limiting interest rates to 16%,which a cycle of borrowing that leaves them money into the race to replace retir- INSIDER check cashers say is too low to justi- far worse off,” Mr. Lawsky wrote to ing Hudson Valley Republican Greg by Erik Engquist and Chris Bragg fy a low-dollar, high-risk loan. But Assembly Speaker Sheldon Silver, Ball than any other contest. rejected customers sometimes turn adding that fees allowed by the bill It’s an ominous sign for a party to unscrupulous lenders who charge could effectively push interest rates that likely needs to gain seats to FINANCE COP far more than what check cashers “into the triple digits.” maintain its tenuous foothold in Benjamin Lawsky would. “They go on the black mar- The bill requires loans to be pro- state government. warns of triple-digit ket and get taken advantage of,”said portional to borrowers’ income, Between mid-July and early Au- effective interest rates. Andrew Siegel, president of the Fi- bans balloon payments and rollovers gust, the GOP spent more than nancial Service Centers of New into new loans, and establishes a $87,000 to boost the candidacy of York and owner of 11 check-cashing database to prevent borrowers from Terrence Murphy in the district, which operations in Brooklyn. getting multiple loans at once, but Democrats hope to capture. Mr. Indeed, on Aug. 11 Manhattan Mr. Lawsky considers the protec- Murphy must first win a primary District Attorney Cy Vance brought tions insufficient or unworkable. against a former assemblyman, criminal charges against a web of The financial-services regulator which is one explanation for the big firms linked to MyCashNow.com, also claims that short-term loans are early spending: The Republican incorporated in the West Indies.In- available to New York consumers at Party organization is helping the ternal documents show New York to legal interest rates from credit candidate it perceives to be stronger be its third-most lucrative state, but unions and banks, and that those in the general election. The New York Times called such who don’t qualify are spared from Two GOP candidates trying to bloombe rgbloombe news prosecutions “rare.” amassing debt they cannot repay. knock off vulnerable Democratic Mr. Siegel’s group has asked the Check cashers crave the profits senators have also received more Check cashers try lending a hand state Legislature to allow lending by that lending would generate because than $50,000 in support: Richard licensed check cashers at up to 25% the proliferation of direct deposit has Funke, challenging freshman Ted ustomers can do a lot more at check-cashing interest, plus fees. Assemblyman eroded their main source of revenue: O’Brien for a Rochester-area seat; businesses than turn paper into greenbacks.They can Carl Heastie, D-Bronx, introduced a cashing checks.The industry in New and Sue Serino, running to unseat Terry Gipson pay utility bills, buy money orders and wire funds bill that attracted sponsors from the York, created in 1944 when return- in a mid-Hudson C heavily black and Latino districts ing servicemen were having difficul- district. across the world. Many pay parking tickets, mortgage bills and where check cashers do much of ty cashing checks, says its locations Republicans need a strong show- Housing Authority rent on the spot. But often they ask for their business. have shrunk by roughly 10%, to ing in November to avoid losing something they cannot get: a loan. But the legislation has been about 600 statewide, in five years. power in the Senate, as they did in Ed D’Alessio stymied by the industry’s primary the 2008 election. The GOP runs “Our customers are looking for credit,” said , regulator in New York, state Depart- Trouble for the GOP the chamber in partnership with the executive director of the Financial Service Centers of ment of Financial Services Superin- Independent Democratic Confer- America, an industry group for check cashers. “There’s no tendent Benjamin Lawsky. He argues The battle for control of the New ence,a group of five senators who re- that the bill would legalize the preda- York Senate is coming into focus, cently promised to rejoin their De- credit in their neighborhoods.” tory lending his office has been striv- with new campaign filings showing mocratic colleagues to form a new The loan seekers, however, are routinely turned away. State ing to eradicate. “Consumers who that the Senate Republicans’ cam- governing coalition next year. Ⅲ

Health Care Summit: Wednesday, October 1, 2014 TransformingTransforming NewNew York’sYork’s 180 South 8:00 a.m. – 8:30 a.m. Registration HealthHealth CareCare IndustryIndustry and Networking Breakfast 8:30 a.m. – 12:00 p.m. Program Cost to Attend: $325 individual ticket(s) $3,250 table(s) of 10 $4,750 table of 10 + full page event journal ad You must be pre-registered to attend this event. What the $8 Billion Overhaul of New York’s Health Care No refunds permitted. Delivery System Means for New York Businesses For more event information: Adrienne Yee OPENING KEYNOTE PANEL DISCUSSIONS Phone: 212-210-0739 Email: [email protected] To be confirmed. Joining Forces Without Fighting Arthur A. Gianelli, President of Mount Sinai St. Luke’s For sponsorship opportunities: QUICK HITS Joanna Harp Experts pitch their ideas on what the redesign Brian Griffin, President and Chief Executive Officer, Empire BlueCross BlueShield Phone: 212-210-0278 means and its implications. Email: [email protected] Laurel Pickering, MPH, President & Chief Executive Officer, Jason A. Helgerson, Medicaid Director, NYS Department Northeast Business Group on Health of Health Medicaid Reform - A Deeper Dive Stephen Berger, Chairman, Odyssey Investment Partners, LLC Register Today >> Jim Tallon, President, United Hospital Fund Jeff Alter, Chief Executive Officer, UnitedHealthcare Employer & Individual crainsnewyork.com/events-hcconf2014 Kevin Finnegan, Political Director, 1199SEIU United Healthcare Workers East Jeffrey Kraut, Senior Vice President, Strategy & Business Informatics, North Shore-LIJ Health System Kathleen Shure, Senior Vice President, Managed Care and Insurance Expansion, Greater New York Hospital Association Mark Wagar, President, Heritage Medical Systems Additional panelists to be confirmed.

6 | Crain’s New York Business | August 18, 2014 20140818-NEWS--0007-NAT-CCI-CN_-- 8/14/2014 5:32 PM Page 1

BUSINESS $15 Average per-square-foot property taxes for Manhattan office space, highest among U.S. cities PEOPLE Source: Studley Inc. via City Journal

EXECUTIVE MOVES

Amalgamated Bank: Keith Mestrich,47, was promoted to CEO at the majori- ty union-owned bank. He continues as president. Joe Torre Safe at Home Foundation: Yolanda B. Jimenez, 56, joined the foundation as executive director. She was previously commissioner of the NYC Mayor’s Office to Combat Domestic Violence. Just Food: Jasmine Nielsen,39,will join the nonprofit as executive direc- tor, effective Sept. 2. She was previ- ously executive director at Love Heals, the Alison Gertz Foundation for AIDS Education. MTA New York City Transit: Frank Jezycki, 48, was promoted to vice president and chief officer for the Staten Island Railway. He was previously the chief infrastructure officer in the Department of Subways. Citizens Budget Commission: Michael Dardia, 58, joined the nonprofit civic organization as co-research director. He was previously deputy director of the New York City Office of Management and Budget. Financial Women’s Association: Jennifer COMMUNITY BUSINESS: Openshaw,49, Adam Neumann’s second joined the organi- attempt at office sharing zation as executive has fared better. “The real director. She was business is community,” previously president he said. of Finect. CohnReznick: Keith

buck ennis Denham, 42, joined the accounting, tax and advisory firm as managing GOTHAM GIGS principal and national director of the advisory group. He was previously retail and consumer products adviso- ry services leader at Deloitte. Fogarty Finger Architecture | Interiors: Stella Um, 43, was promoted to asso- ciate director at the design studio. He works WeWork She was previously an associate. John Zimmer, 45, was promoted to associate director. He was previously an associate. Shared office space grows into an ‘ecosystem’ Schnader Harrison Segal & Lewis: Scott Kipnis, 46, joined the law firm Like the tenants in his WeWork hives of office business partner Miguel McKelvey turned a as a partner. He was previously a Life on a partner at Hofheimer Gartlir & spaces, Adam Neumann knows about building a Dumbo building into a fairly standard ready- Gross. kibbutz, business from scratch. While studying at Baruch made office operation. “Within a few weeks, Siempre Mujer: Jessica Torres,32, College a dozen years ago, the Israeli immigrant Miguel and I understood:The real business is was promoted to where launched a children’s clothing company called community,” Mr. Neumann said. But “how do deputy editor at the Spanish-language ‘everybody Krawlers—not knowing much about either you build community for a bunch of entrepre- women’s magazine. children or clothing. ¶ “That’s where I learned neurs and freelancers?” ¶ His answers included She was previously knows manufacturing, importing, design, sales, trade hiring community managers who help people beauty and lifestyle editor. each shows—and how difficult it is to start a business,” meet one another; holding monthly events; and Marks Paneth: Michael Hurwitz,49, Mr. Neumann said.That helped him design building lounges that serve as an open bar and was promoted to partner in the real other,’ estate group at the accounting firm. WeWork’s shared environment around the needs coffee shop. WeWork, launched in 2010, has also He was previously an executive inspired of its “members,” whose businesses run the gamut developed a mobile app that’s a directory for its consultant. from tech startups to legal, financial and design 10,000-plus members. ¶ From one 12,000- Greenberg Traurig: James Null,39, joined the law firm as of counsel. He Adam firms. ¶ Mr. Neumann also drew inspiration from square-foot location in Manhattan, WeWork has was previously an associate at Reed growing up on a kibbutz.There, he learned about grown to more than 1 million square feet in 19 Smith. Neumann Urban Compass: Tinnie Sassano,37, the virtues of a collaborative workplace where buildings in six cities. ¶ “We’re going to get to a joined the residential real estate bro- “everybody knows each other,” he said. ¶ It took a place where WeWork becomes a proper eco- kerage as a licensed real estate agent. She was previously a licensed real while to apply the lesson. His first try at the system,” he said. “You’ll go inside the community estate agent at Town Residential. workspace business came in 2008, when he and before you go out.” —matthew flamm —nazish dholakia

August 18, 2014 | Crain’s New York Business | 7 20140818-NEWS--0008-NAT-CCI-CN_-- 8/15/2014 5:23 PM Page 1 OPINION CRAIN’S The overdevelopment myth NEW YORK BUSINESS editor in chief Rance Crain publisher, vp Jill R. Kaplan any New Yorkers complain that complies with existing zoning. EDITORIAL editor Glenn Coleman housing development has run For Mayor Bill de Blasio to achieve his goal of cultivating managing editor Jeremy Smerd rampant across the city, with local support for development and alleviating the housing deputy managing editors Valerie Block, Erik Ipsen apartment towers springing up left shortage, he must disabuse well-meaning folks of their assistant managing editors Barbara Benson, Erik Engquist and right in their backyards. In fact, misguided notions and stop them from hurting their own senior news producer Amanda Fung the opposite is true. cause.The mayor has taken pro-development positions in contributing editor Elaine Pofeldt columnists Greg David, Steve Hindy, Alair Townsend A stunning new report from the the past, but he fears offending his constituents and is senior reporters Theresa Agovino, Aaron Elstein, Lisa Fickenscher, Matthew Flamm, Citizens Budget Commission reveals that from 2000 to reluctant to publicly contradict them. It shouldn’t be Daniel Geiger, Adrianne Pasquarelli 2012, the number of housing units in New York City controversial, however, to point out that high rents are reporters Joe Anuta, Chris Bragg, M Andrew J. Hawkins, Irina Ivanova, increased by only 5.8%—the weakest growth of the 19 caused not by housing but by the lack of it. Thornton McEnery largest cities that added population.The only cities in the The activist lobby insists that the need for affordable reporter/videographer Ken M. Christensen news producer Emily Laermer study that trailed New York were Chicago, Philadelphia and housing can be satisfied web reporter/producer Nazish Dholakia Detroit, all of which lost population, so outpacing them is by mandating low rents art director Steven Krupinski The reality: NYC deputy art director Carolyn McClain meaningless. Despite common sentiment that builders hold for select units and staff photographer Buck Ennis copy desk chief Steve Noveck sway in New York, the numbers show that housing growth housing growth awarding them by copy editor Thaddeus Rutkowski here has been abysmal. lottery. But the demand data editor Suzanne Panara is the slowest researchers Malik Singleton, Nicholas Wells Is there any wonder, then, that our housing is expensive? for artificially cheap editorial interns Katrina Samuelson conferences and events editor High prices are what happens when supply doesn’t meet in the nation rent is inexhaustible. Jessica Kramer demand. But as obvious as that may seem, some activists The mother of all ADVERTISING advertising director Joanna Harp argue that building new units pushes housing prices up. housing mandates, rent sales manager Irene Bar-Am That is like saying farming causes hunger, immunizations regulation, covers some senior account managers Jill Bottomley Kunkes, Courtney McCombs spread disease and police increase crime. 1 million city units, yet senior account executive Rob Pierce account executive Lauren Black In Queens, the advocacy group New York Communities even its proponents say affordability is worse than ever. sales coordinator LeAnn Richardson for Change is fighting a 2 million-square-foot Astoria The problem is anemic housing growth, caused in part by credit Todd J. Masura (313-446-6097) project, claiming that “luxury condos will drive up rents and opposition to projects—and an underlying belief that rents CUSTOM CONTENT, EVENTS AND PRODUCTION director of custom content Trish Henry inflate real estate prices far beyond what New Yorkers can are determined by landlords rather than the law of supply director of audience & content partnership development Michael O’Connor afford.” For the same reason, residents of Prospect Lefferts and demand. Crushing that myth would help the mayor get director of conferences & events Gardens in Brooklyn are battling a 23-story project that housing growth out of last place. Courtney Williams events coordinator Adrienne Yee events coordinator & scheduler Alexis Sinclair reprint account executive Alicia Samuel CRAIN’S ONLINE POLL COMMENTS production and pre-press director Simone Pryce ONLINE AND INTERACTIVE SERVICES general manager Rosemary Maggiore Seniors’ moment TO SUBSCRIBE: For print and digital subscriptions or customer service, e-mail [email protected] RETIRING RIGHT HERE agenda (“Why—and how— Growth in the city’s or call 877-824-9379 (in the U.S. and Canada) or NYC must sustain growth,” economy often has been 313-446-0450 (all other locations). $3.00 a copy for the print edition; or $99.95 one year, $179.95 two I strongly disagree with the op-ed, June 9). too lopsided. From 1990 to years, for print subscriptions with digital access.

ap images AARP’s findings (“Why retiree It certainly is preferable to 2012, real per capita output www.crainsnewyork.com/subscribe flight hurts so much,” Greg reap the “tax dividend” from rose by nearly 60%, but real TO ADVERTISE: WILL GOV. ANDREW David, CrainsNew York.com). sustained growth than to median hourly wages fell by Contact Joanna Harp at [email protected] CUOMO’S EFFORT TO BOOT I and many of my friends have raise taxes. In its recent 10%. or call 212-210-0278. retired from city employment. report, the Independent Considerable research www.crainsnewyork.com/advertise ZEPHYR TEACHOUT FROM No one ever thought of moving Budget Office sees taxes shows that increasing the FOR INFORMATION ON OUR EVENTS: THE BALLOT BACKFIRE? out of the city. With the caveat growing 4.2% a year on spending power of low-wage Contact Courtney Williams at that you already have a place to average over the next four workers will boost the local [email protected] or 212-210-0257. www.crainsnewyork.com/events Yes. Mr. Cuomo already has a reputation for live, the city is the best for years, generating $2.1 billion economy, and that raising being aggressive and arrogant. This will retirees. You do not need a car more in taxes each year. low wages is partly offset by TO CONTACT THE NEWSROOM: cement it—and alienate his supporters. to get around, and there are Mayor Bill de Blasio has increased productivity and 685 Third Ave., New York, NY 10017-4024 editorial phone: 212-210-0277 No. The guv’s got a $30 million campaign war many senior discounts and free made a good start on a likely employer adjustments, fax 212-210-0799 chest. Ms. Teachout, with $180,000, is but a attractions. As we get older, comprehensive growth such as modest price Entire contents ©copyright 2014 Crain Communications Inc. All rights reserved. ®CityBusiness is a registered trademark blip on the re-election trail. these assets become more package with his ambitious increases. important. housing and capital spending These priorities need to of MCP Inc., used under license agreement. Date of poll: Aug. 12 True, the city probably priorities. be balanced in an overall pro- CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS 117 votes costs more than other places, He is also on the right growth economic agenda. chairman Keith E. Crain president Rance Crain but look what you get for your track in seeking to support If the mayor can do that, treasurer Mary Kay Crain money. I would think those the tech sector and ensure New York City will be Cindi Crain who have moved out never that city residents contribute sending a positive message to executive vp, operations William Morrow 38% really appreciated the city to tech’s local dynamism. Washington and the nation, executive vp, director of strategic No while living here. The mayor’s emphasis on as well as demonstrating that operations Chris Crain executive vp, director of corporate —terry raising wages, if done a progressive agenda can be operations K.C. Crain 62% sensibly—for example, pro-growth. senior vp, group publisher David Klein Yes phasing in over four years a —james parrott vp/production, manufacturing David Kamis GROW FROM GROUND UP chief financial officer Thomas Stevens minimum-wage increase to Deputy director and chief chief information officer Anthony DiPonio Kathryn Wylde generally $13 an hour—is also pro- economist founder G.D. Crain Jr. (1885-1973) advances a sound city growth growth. Fiscal Policy Institute chairman Mrs. G.D. Crain Jr. (1911-1996) secretary Merrilee Crain (1942-2012) FOR THIS WEEK’S QUESTIONS: CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 Go to www.crainsnewyork.com/poll to have your say. words or fewer to [email protected]. Please include the writer’s name, company, address and telephone number.

8 | Crain’s New York Business | August 18, 2014 20140818-NEWS--0009-NAT-CCI-CN_-- 8/14/2014 5:32 PM Page 1

Stats Cityand the

STEVE HINDY to a pedestrian or bicyclist in a cross- walk,whether an officer witnesses the violation or not. Another key law re- When zero is the best quires suspension of a taxi driver’s li- cense if the driver is in a crash involv- ing a fatality or critical injury and is issued a summons or charged with a number imaginable traffic violation. If the driver is con- victed, he may lose his hack license. Another requires the Taxi and rom January through July, 129 people died in traf- Limousine Commission to tally fic crashes in New York City. If that pace holds, drivers’ points while on the job and 2014 will see a 10% reduction in the city’s traffic their points while driving private vehicles. Amazingly, the two had deaths. Last year, the number was 286. never been considered together. Mayor Bill de Blasio has moved quickly to build Earlier this year, the state Legis- on the progress in this area achieved by former Mayor Michael lature approved 140 new speed cam- F eras for New York City school Bloomberg. In 1990, the number killed was 701. zones. This is in addition to 20 ap- By raising public awareness and adding bike lanes, traffic proved last year. Skeptics will say the new laws islands, pedestrian plazas, speed izing the city to lower the default mean nothing if there is no enforce- cameras and other traffic-calming speed limit to 25 mph.Gov.Andrew ment.That is true,particularly when measures, the Bloomberg adminis- Cuomo signed the speed-limit law it comes to enforcing the speed lim- tration steadily reduced the number Aug. 9. Families for Safe Streets it. The purpose of the new laws is of traffic deaths. lobbied for all of these measures. not to write more tickets, but rather Our only son, Sam, was killed in Every 1-mph reduction in mo- to encourage New York City drivers HOW DO YOU CONNECT a bicycle crash in 2007,and my wife, torists’ average speed reduces the to slow down and be more mindful Ellen Foote, and I have since been crash rate by 6%, according to of pedestrians and bicyclists. involved in raising awareness of this Transportation Alternatives, a This requires a new mindset for WITH THE LEADERS scourge. We are members of Fami- group advocating for safe streets. a city where too often a yellow light lies for Safe Streets, a group of par- There is more to Vision Zero, a means “hit the accelerator!” instead IN YOUR MARKET? ents, friends and relatives of people policy that seeks to reduce traffic fa- of “slow down and stop.” who died in traffic violence. talities to nil, than reduced speed If Mr. de Blasio’s Vision Zero The de Blasio administration es- limits. policy works, New York City could tablished a “Vision Zero” program Perhaps the most important new become one of the safest cities in the Crain’s Business Lists with a list of 11 new laws in the City law enables police to issue misde- world for pedestrians and bicyclists. Council and one in Albany author- meanor violations for failure to yield The numbers will tell the story. make it easy

STEP 1 NYC AFFORDABILITY The housing crisis Visit $1,196 MEDIAN RENT Crain’s isn’t what it seems Sixth-highest of 22 cities Data Center surveyed iven all you have read, do you believe that New 51% York’s affordable-housing crisis is more severe SHARE OF HOUSEHOLDS that STEP 2 than in other large cities, and do you believe it is spend more than 30% of getting worse here at a faster pace than it is else- income on housing: where? Ninth least-affordable Select And GYour answer is probably yes. But the correct answer is no, ac- of 22 cities Download cording to new research from the Citizens Budget Commission Your List that does something usually missing from housing debates: 32% PORTION OF INCOME SPENT by a typical household on housing comparative analysis. and transportation: The CBC first looked at median Third best of 22 cities STEP 3 rent in the 22 most comparable large cities in the U.S. New York is Source: Citizens Budget Commission cheaper than three California cities, Make as well as Boston and Washington, costs—the typical approach for D.C., and is ranked in almost the housing-advocacy groups—doesn’t New same place as it was a decade ago. paint an accurate picture. Connections Rents by themselves tell us little, In fact, the least-understood im- so the federal government defines af- portant number of the de Blasio fordability as the portion of rental housing program is 5—as in the per- households spending more than 30% centage increase expected in the to- of their income on housing. New GREG DAVID tal number of housing units in the York ranks ninth by that measure of next decade. That’s no more than View all our lists at: unaffordability, with 51% of house- under Michael Bloomberg, and in- www.crainsnewyork.com/datacenter holds exceeding the benchmark. In adequate if the population contin- the past decade,the city’s relative po- best among the 22 cities. ues to grow. It would mean higher All Crain’s lists are researched and verified by our editorial sition has not changed much. What does all this mean, and rents for everyone who doesn’t get team so you can be assured that you’re getting the most Finally, the federal government why is it important? one of the 80,000 new units of af- accurate data possible. All lists are available for download combines housing and transporta- The “affordable-housing crisis” fordable housing promised by Mr. in an easy-to-use Excel compatible format. tion costs to come up with what it is a function of strong economies in de Blasio. calls location affordability—obvi- New York and elsewhere. If the There is a role for government ously a good concept. The typical economy tanked, affordability action to spur affordable housing. New York household spends would improve,but no one would be But the real answer is more housing, $20,452 on both.As a portion of in- better off. period—ideally near good trans- come—32% here—it is the third Single-minded focus on housing portation networks.

August 18, 2014 | Crain’s New York Business | 9 20140818-NEWS--0010-NAT-CCI-CN_-- 8/14/2014 6:41 PM Page 1 HEALTH CARE Stats Cityand the EDUCATION

THE STORY OF NEW YORK is inarguably one about its people: who they are, where they reside and work, how they live and die.Their experiences supply fascinating REAL ESTATE and endless material for raconteurs. But the pulse of the city can’t be taken by anecdote alone. It requires data. Statistics put our successes and failures into context, allowing us to replicate or repair them. And virtually everything New Yorkers do is recorded in ways that can be counted, sorted and analyzed. Our annual Stats and the City report, on these pages and online at CrainsNewYork.com with expanded charts and graphics, presents key figures tracking the health of the city’s economy, the effectiveness of local government, the quality of life in the five boroughs and the vibrancy of essential city industries, from real estate to technology to tourism.They provide a big-picture view of where New York has been and perhaps where it is going, too. —ERIK ENGQUIST AND NICHOLAS WELLS

WHAT COUNTS IN TECHNOLOGY, TRANSPORTATION, TOURISM AND PROFESSIONAL SERVICES? VIEW MORE THAN 100 INTERACTIVE CHARTS AT CRAINSNEWYORK.COM/STATS PLUS: THE NUMBERS MOST AFFECTING NEW YORKERS AT EVERY STAGE OF LIFE, FROM A NEWBORN IN BROOKLYN TO A 102-YEAR-OLD IN THE BRONX. WATCH THE CRAIN’S VIDEO BY KEN CHRISTENSEN BOROUGHS ECONOMY GOVERNMENT

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PROPERTY: 2014 1H NY COLORS: Cyan, Magenta, Yellow, Black 20140818-NEWS--0012,0013-NAT-CCI-CN_-- 8/14/2014 5:35 PM Page 1

2014 STATS AND THE CITY

Rising and falling sectors Shifting Policymakers have been concerned by job losses in manufactur- ing and the high-paying finance industry, but their own sector— 74% government—has itself been shrinking. A reduction in state and fortunes federal employees accounts for most of the decline in the city’s INCREASE he city’s economy has gained 374,900 jobs public-sector positions. in designers--including since losing 140,800 in the Great TRecession, and its unemployment rate has Jobs added since Sept. 2009 % change architects as well as fallen under 8% from a peak of 10%. Last year, Food services +67,800 +33.5% fashion, graphic, interior the city accounted for nearly 57% of the state’s Retail +57,900 +19.7% and industrial designers--in gross product, a five-year high, despite having just Health services +57,300 +14.0% the New York metro area over 40% of its population. Record tourism and Educational services +42,400 +25.9% from 2000 to 2013, to surging tech companies have been high points of Computer systems design +20,100 +45.4% 40,340, the most in the the city’s recovery, although concerns remain that not enough New Yorkers are benefiting. Wage country. Los Angeles was Jobs lost since Sept. 2009 % change second, with 24,460. The stagnation and high housing costs continue to Government -15,000 -2.7% plague the working class, and much of the job number of design firms in growth has been in positions that don’t support a Publishing -2,900 -6.0% Brooklyn more than middle-class lifestyle. But with wealth spreading Legal services -2,500 -3.2% Apparel manufacturing -1,400 -8.1% doubled from 2003 to to new parts of the city, New York is in the enviable 2012. position of steering prosperity rather than Other manufacturing -1,200 -1.9% struggling to create it. Source: Independent economist Barbara Byrne Denham Source: Center for an Urban Future

The rich list When told that his $80,000 salary in 1930 was more than that of President Herbert Hoover, legendary New York Yankee Babe Ruth famously replied, “I had a better year.” In terms of income, few had a better 2013 than the 10 best-paid managers of city-based hedge funds. These titans of investing tend to operate quietly, although John Paulson garnered press for giving the Central Park Conservancy $100 million. The gift represented just over two weeks’ earnings. Top earners at NYC-based hedge funds 2013 compensation 2013 Rank Name Firm (in millions) net returns* 1 John Paulson Paulson & Co. $2,300 +26%

ECONOMY 2 Israel “Izzy” Englander Millennium Management $850 +13% 3 Leon Cooperman Omega Advisors $825 +30% 4 Lawrence Robbins Glenview Capital Management $750 +43% 5 Daniel Loeb Third Point $700 +25% 6 John Griffin Blue Ridge Capital $470 n/a 7 Daniel Och Och-Ziff Capital Management Group $385 +14% 8 Nelson Peltz Trian Partners $375 +40% 9 James Dinan York Capital Management $360 +16% bloomberg news 10 David Einhorn Greenlight Capital $350 +20% JOHN PAULSON made $2.3 billion in 2013, tops * Returns on flagship fund. Sources: Institutional Investor’s Alpha, Forbes among city-based hedge-fund managers.

Most unequal cities Getting paid New York City was cast as a glaring New York City is a pricey place to live, which contributes to hourly wages being higher here than in the rest of the country. One example of income inequality in the exception: dentists. The New York State Dental Association cites the high number of dentists per capita in the city. 2013 mayoral race, but the disparity $79.12 NY area U.S. between rich and poor was worse in $75.74 12 other cities. The six most dis- $73.56 parate were all in the South.

1. Atlanta $63.46

2. New Orleans $57.24 $54.67 3. Miami 4. Jackson, Miss. 5. Gainesville, Fla. $44.05 $43.38 $43.99 $43.60 6. Tampa, Fla. $38.91 $39.54 $34.86 7. Cincinnati $33.13

8. Athens, Ga. $27.89 9. Providence, R.I. $24.92 $22.33 10. Berkeley, Calif. $16.84 11. Boston $15.17 $12.12 $13.11$12.20 12. Cambridge, Mass. $9.86 $9.07 13. New York 14. Richmond, Va. Total, all Lawyers Dentists, Financial Media* Computer Accountants Registered Construction Taxi drivers Retail Cooks, 15. Washington occupations general analysts programmers & auditors nurses laborers & chauffeurs salespeople fast food Source: Bloomberg LP *Includes producers and directors. Source: U.S. Bureau of Labor Statistics, Occupation Employment Statistics, May 2013

$67,770: Average 2010 adjusted gross income in NYS, sixth highest in U.S. 7%: Gain in NYS average adjusted gross income, 2005-2010, versus 3% nationwide

12 | Crain’s New York Business | August 18, 2014 20140818-NEWS--0012,0013-NAT-CCI-CN_-- 8/14/2014 5:35 PM Page 2

Consumer spending Economic engine New York’s per-capita spending dipped less than 1% in 2009, even Recessions hit New York City’s economy harder than the state’s as a whole, judging from the dips in the city’s share of GDP in as the nationwide number fell 2.5%. And spending has rebounded 2002 and 2009; upstate’s high number of stable, government jobs is one reason. But the city’s production grows with greater vigor more quickly in the Empire State, to $42,043 per person in 2012, during times of prosperity. At all times, the city, with 43% of the state’s population, outproduces the rest of New York. 18% higher than the national figure. Real gross product, in billions of 2009 dollars Change in per capita spending NYS NYC NYC % of NYS

$1,250 60% 5% NYS U.S. 4 1,000 58 3

2 750 56 +3.5% 1 500 54 0 56.6% +3.3% -1 250 52 -2

-3 0 50 2008 2009 2010 2011 2012 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Data are preliminary and subject to change. Source: Bureau of Economic Analysis Sources: U.S. Dept. of Commerce, Bureau of Economic Analysis and NYC Office of Management and Budget, via NYS comptroller

Welfare becomes rare The city’s eroding middle class Time limits and work requirements drove down The middle class of New York City—if defined as households not earning six figures or more— the percentage of New Yorkers receiving cash has not returned to prerecession levels. The number of households with incomes from $35,000 to $458M assistance. In the poorest part of the Bronx, for $100,000 per year fell as the economy crashed and hasn’t rebounded much. Low-wage house- example, the portion on welfare dropped nearly holds, meanwhile, surged in number during the recession and have similarly plateaued since. On AMOUNT GIVEN to charity in two-thirds, to 13% from 37%, from 1997 to the plus side, there are now more households with six-figure incomes than before the crash. 2008 from Upper East Side ZIP 2010. But noncash public assistance, sometimes called “work supports,” rose across the board. Net change in households by income class code 10021, more than any other in the nation. Residents NYC residents receiving public assistance Recession (2008-10) Recovery (2010-12) 50,000 +46,953 gave 8.1% of their income; only +40,998 1997 2010 40,000 8% of U.S. ZIP codes donated a 36% higher percentage. 30,000 Source: The Chronicle of Philanthropy

20,000

22% 22% 10,000 +1,644 0 16% -2,250 12% -10,000

-20,000 -27,790 4% -30,000 -30,845

-40,000 HIGH-WAGE MID-WAGE LOW-WAGE Welfare Medicaid Food stamps (>$100K) ($35K-$100K) (<$35K)

Source: Manhattan Institute Source: U.S. Census Bureau, American Community Survey istockphoto

Tourist mecca Where’s the tech? The city is expected to welcome a record 55.8 mil- A trio of recent reports show how hard the city’s technology sector is to gauge. The Association for a 25M lion visitors in 2014, a 20% increase over 2009. Better New York found nearly 300,000 workers in tech or at tech companies. The Partnership for Hospitality continues to be one of the city’s boom- New York City counted half as many, and the state comptroller one-third, using narrower criteria. PASSENGERS ing industries, and tourism is estimated to support 370,000 jobs. at JFK airport from January ASSOCIATION FOR A BETTER NEW YORK’S ESTIMATE through June 2014, up Visitors (in millions) Tech jobs in tech industry: 58,000. Nontech jobs in tech industry: 83,000. 291,000 1 Jobs in “tech ecosystem” Tech jobs in nontech industries: 150,000. Average salary: $79,000. 7.4% from the year-earlier 50 Growth, 2003-2013: +18% International Domestic 41.8 42.9 period 40.3 PARTNERSHIP FOR NYC’S ESTIMATE 40 37.6 39.1 150,000 Jobs Source: Port Authority of NY & NJ 37 Average salary: $96,400 High tech jobs: 98,000 30 Annual GDP growth, 2002-2011: +5.3%2 NYS COMPTROLLER’S ESTIMATE 20 100,000 Jobs Average salary: $118,000 11.4 9.5 9.7 10.6 10.9 Growth: +33% during economic recovery 10 8.8

0 2008 2009 2010 2011 2012 2013

1-Based on $39.50-per-hour average. 2-Compound annual growth.

bloomberg news Source: NYC & Company Sources: NYS comptroller, Partnership for New York City Jobs Blueprint, Association for a Better New York Tech Ecosystem report

$1,864: New York state individual income tax collected per capita, highest in the U.S.

August 18, 2014 | Crain’s New York Business | 13 20140818-NEWS--0014-NAT-CCI-CN_-- 8/14/2014 6:42 PM Page 1

2014 STATS AND THE CITY

Commercial vacancy rates

Heading north Space in Brooklyn has been especially hard to find for two years running. he metrics of the city’s real estate industry seem to be pointing up. Commercial and 15% 10.0% residential rents continue to climb, as do Midtown T Downtown Brooklyn property values (and taxes) in most of the city. The 11.0% hottest retail and housing markets are reaching 12 numerical peaks, and new skyscrapers are attaining physical ones. Condo developers appear to be minting money, with a few Manhattan units 9 8.2% fetching nearly $100 million. And building permits jumped last year. But amid all this good news is a sobering fact: Of the 19 largest U.S. cities that 6 gained population from 2002 to 2012, New York 6.7% had the smallest growth in housing units, 5.8%. 3 Critics say it is difficult to build here because of 2004 2005 2006 2007 2008 2009 2010 2011 20122013 2014 high costs, red tape and community opposition. Sources: Cushman & Wakefield and CoStar

Office rents trending higher Room to grow Paying retail Average monthly office asking rent per square foot, With two towers completed at the World Trade Cen- The king of the retail market, second quarter ter, another rising at Hudson Yards and more in the between 49th and 59th streets, added jewels works, Manhattan is poised to add 9 million square to its crown in the past year, with rents rising feet of office space between 2013 and 2015, according 20%. Along , they shot up $80 Midtown Midtown south to the New York Building Congress. But in recent nearly 30%. $71 Downtown Brooklyn years, renovation has been powering the market: 70 70% of office-sector construction spending over a Median annual asking rent for ground-floor 70-month period was to upgrade existing space. spaces, spring quarter $60 60 New office space in NYC (in millions of square feet): 2013 2014 $4,000 $49 3,500 50 50 49.0 3,000 40 2,500 40 2,000 30 $29 1,500 20 24.4* 1,000 30 19.4 500 10 10.7 0 20 0 Madison Fifth Times SoHo 2010 2011 2012 2013 2014 1980-89 1990-99 2000-09 2010-19 Avenue Avenue Square Sources: Cushman & Wakefield and CoStar *Projected. Source: New York Building Congress Source: Real Estate Board of New York REAL ESTATE Changing skyline Four proposed buildings will be among the city’s 10 loftiest if they come to fruition. With three other spires at least 1,100 feet tall under construction, including the newly financed 3 World Trade Center, the skyline could look very different in a decade’s time.

1 World Trade 432 225 W. 1 Vanderbilt 111 W. Empire State 30 Hudson Bank of 3 World 520 W. Center Park Ave. 57th St. Place 57th St. Building Yards America Tower Trade Center 41st St. bloomberg news; yimby; courtesy of city of planning; department nyc co. related-oxford Feet: 1,776 Feet: 1,396* Feet: 1,394* Feet: 1,350* Feet: 1,350* Feet: 1,250 Feet: 1,227* Feet: 1,200 Feet: 1,171* Feet: 1,100* Floors:104 Floors: 96 Floors: 88 Floors: 67 Floors: 77 Floors: 102 Floors: 73 Floors: 55 Floors: 80 Floors: 100 Year: 2014 Year: 2015 Year: 2015 Year: 2021 Year: 2016 Year: 1931 Year: 2018 Year: 2009 Year: 2018 Year: 2020 Use: Office Use: Use: Retail/ Use: Use: Use: Office Use: Office Use: Office Use: Office/ Use: Retail/ Status: Residential residential Residential Residential Status: Status: Status: retail residential Topped out Status: Under Status: Under Status: Status: Completed Proposed Completed Status: Under Status: construction construction Proposed Proposed construction Proposed *Specs for not-yet-completed buildings are preliminary and subject to change. Sources: Council on Tall Buildings and Urban Habitat; Department of City Planning; development companies

AN ESTIMATED 42.7% of the city’s tax revenue will be from property taxes in the fiscal year that began July 1, up from 41.4% in fiscal year 2014

14 | Crain’s New York Business | August 18, 2014 CN016615.indd 1 4/22/14 4:52 PM 20140818-NEWS--0016-NAT-CCI-CN_-- 8/14/2014 5:37 PM Page 1

2014 STATS AND THE CITY

Residential boom The median purchase price in Manhattan topped its 2008 peak in the second quarter this year, nearing $1.7 million. Spacious dwellings led the way. 11% $8,000,000 3 BR Increase in median gross Studio 1 BR 2 BR 4+ BR $6,750,000 7,000,000 rent in the city between 2005 and 2013. 6,000,000 The median household 5,000,000 income of renters rose by 2% in that period. $2,915,000 4,000,000 Source: NYU Furman Center

3,000,000 $1,485,000 2,000,000 $702,500

1,000,000 $439,000 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Source: Miller Samuel Inc. istock

Housing Hunt Part-time homes at full price Going up How in demand is affordable The condo market in Manhattan has been dominated by international invest- The city issued more than 96,000 building housing? The numbers for one ment, with some estimating that a third of condos are bought by foreigners as permits in 2013, a 7.6% jump from 2012. Harlem project tell the story. second or third homes. Since 2004, per-square-foot prices at the city’s top condo Manhattan had 51% of them, but mostly for buildings have increased at a 6.5% compound annual growth rate, outpacing even renovations. Only 5% of the island’s permits the hot stock market. During the same time, the S&P 500 grew at a 5.6% clip. were for new buildings; Queens’ 593 permits for new construction topped all boroughs. CityRealty 100 index All Manhattan condos 124 $2,500 Permits issued Number of units $2,500 100,000 96,177 89,343 2,000 86,860 80,662 80,000 76,695

$349 1,500 60,000 Monthly rent for studio 40,000 1,000 $1,642

20,000 50K 500 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 0 Applications 2009 2010 2011 2012 2013 Source: New York Post Source: CityRealty 100 index of the 100 most expensive condos in Manhattan Source: NYC Department of Buildings

REAL ESTATE REAL Hot and cold ’hoods Of the five city neighborhoods with the largest increases in median home prices during the past year, three were in Brooklyn, where increased interest from families and investors alike in Bushwick and Bedford-Stuyvesant drove prices up by nearly a third. Meanwhile, three of the sharpest declines were in Sandy-ravaged neighborhoods in the Rockaways in Queens, where flooding did significant damage to homes and property values. TOP INCREASES IN MEDIAN HOME VALUE

Neighborhood: Bushwick Neighborhood: Washington Heights Neighborhood: Borough Park Neighborhood: Bedford-Stuyvesant Neighborhood: Hamilton Heights Borough: Brooklyn Borough: Manhattan Borough: Brooklyn Borough: Brooklyn Borough: Manhattan June 2013: $427,200 June 2013: $420,700 June 2013: $563,000 June 2013: $500,700 June 2013: $503,200 June 2014: $560,500 June 2014: $541,700 June 2014: $722,300 June 2014: $638,500 June 2014: $639,400 % change: +31.2% % change: +28.8% % change: +28.3% % change: +27.5% % change: +27.1% LARGEST DECREASES IN MEDIAN HOME VALUE bloomberg news; buck ennis; newscom Neighborhood: Kingsbridge Neighborhood: Neponsit Neighborhood: Arverne Neighborhood: Belle Harbor Neighborhood: Soundview Borough: Bronx Borough: Queens Borough: Queens Borough: Queens Borough: Bronx June 2013: $440,000 June 2013: $933,200 June 2013: $281,100 June 2013: $767,600 June 2013: $290,300 June 2014: $400,000 June 2014: $880,000 June 2014: $265,300 June 2014: $728,300 June 2014: $276,400 % change: -9.1% % change: -5.7% % change: -5.6% % change: -5.1% % change: -4.8% Source: Zillow.com

CLASS B office space downtown has contracted 45% since 2011, while Class A (excluding the World Trade Center) has grown 43%

16 | Crain’s New York Business | August 18, 2014 COMING TO NYC THIS FA !

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CN016786.indd 1 8/14/14 3:11 PM 20140818-NEWS--0018-NAT-CCI-CN_-- 8/14/2014 5:38 PM Page 1

2014 STATS AND THE CITY

An overdose of drug deaths Hospitals cope Actor Philip Seymour Hoffman’s (right) lethal overdose on heroin and other drugs in Man- hattan on Feb. 2, 2014, highlighted a surge in drug-related deaths in New York state. The number of fatalities more than doubled to 2,044 in 2012, from 940 in 2004. The geographi-

cal shift was even more stunning. While 64% of the state’s drug deaths in 2004 were in New world photos wide with change /

York City, the city had just 42% of them over the following eight years. ap here is no shortage of drama in New York City hospitals. Not just in emergency Drug-related deaths rooms, but in boardrooms, where 2,500 10 T * NYC Rest of state NYC rate executives and directors are adjusting to a 10.1 rapidly shifting landscape of health care economics. Technology has reduced overnight 2,000 8 stays, resulting in empty beds at many institutions, and federal funding cuts have hit 1,500 6 hospitals with large Medicaid and Medicare populations especially hard. Administrators have navigated this uncertain terrain with widely 1,000 4 varying degrees of success. Some hospitals are thriving and expanding, while others cling to their very existence—and even go bankrupt. Add 500 2 to that the Affordable Care Act, better known as Obamacare, which offers hospitals the prospect of more insured patients but brings numerous 0 0 complications as well. 2004 2005 2006 2007 2008 2009 2010 2011 2012 *Per 100,000 population. Source: NYS Department of Health

Fewer inpatients, but higher costs Young adults get Obamacare Health care has been shifting to outpatient treatment, which costs less: In the five boroughs and three A major concern was that young people wouldn’t buy major suburbs, inpatient days fell 6.4% between 2009 and 2012. Yet over that time hospital charges insurance on the state’s new marketplace, causing an climbed by that same percentage, rising everywhere except in Brooklyn. adverse selection problem in which sicker customers drive up medical costs and premiums, scaring away the healthi- 2012 Change 2012 Change er customers needed to keep plans sound. Backers of the charges from 2009 inpatient days from 2009 law have been encouraged by New York’s figures so far.

BRONX $6.86B +6% 1.15M -4% Unsubsidized qualified health-plan enrollees, by age group

BROOKLYN $7.81B -1% 1.66M -6%

NASSAU $9.36B +9% 1.11M -10% 23% 21% MANHATTAN $20.45B +2% 2.49M -10% 20% 18% QUEENS $6.18B +11% 1.17M -5%

STATEN ISLAND $2.08B +15% 0.33M 0% 10% SUFFOLK $6.97B +15% 0.88M -3% 8%

HEALTH CARE WESTCHESTER $5.09B +14% 0.87M -2%

DOWNSTATE TOTAL (8 counties) $64.8B +6% 9.66M -6% <18 18-25 26-34 35-44 45-54 55-64 Source: NYS Department of Health, Statewide Planning and Research Cooperative System Source: NY State of Health, 2014 Open Enrollment Report

A Medicaid majority Most popular plans Most of the 960,762 individuals who got coverage Six insurers attracted 82% of those who bought qualified health care on the state’s Obamacare marketplace between its plans through the state’s Obamacare marketplace. 10.5 Oct. 1, 2013, launch and April 15 enrolled in Medicaid, while 38% bought private plans, most GAIN IN LIFESPAN, of which were federally subsidized. Health Republic Insurance of NY in years, for NYC men 19% from 1990 to 2010. Top factors: fewer AIDS Fidelis Care Qualified health plan deaths, homicides with subsidies 17% 28% MetroPlus 15% Qualified health Empire Blue Cross Blue Shield plan without 14% 6.3 10% Medicaid subsidies GAIN FOR NYC WOMEN 55% EmblemHealth . 7% 9% Respective lifespan MVP Health Care gains for U.S. men and Child Health women were 4.5 and Plus 8% 2.4 years Source: Population Council study Source: NY State of Health, 2014 Open Enrollment Report Source: NY State of Health, 2014 Open Enrollment Report by Samuel H. Preston and Irma T. Elo

12%: Drop in medical malpractice claims against the city’s 11 public hospitals, to 495, in fiscal 2013, from the average of 564 claims per year from 2009 to 2012

18 | Crain’s New York Business | August 18, 2014 20140818-NEWS--0019-NAT-CCI-CN_-- 8/14/2014 5:38 PM Page 1

2014 STATS AND THE CITY

More schools, fewer students School reform As former Mayor Michael Bloomberg broke up many large high schools and created smaller ones, the number of traditional public schools in the city increased by nearly a quarter, to 1,592 in the 2012-13 school year. But begins again their total enrollment fell by 5% over that time as students shifted to charter schools. 1,200,000 ayor Bill de Blasio is not a fan of how his predecessor, Michael Bloomberg, Number of schools Total enrollment reformed the city’s school system— M 1,592 1,556 1,568 closing struggling schools, focusing on test 1,498 1,533 1,417 1,434 1,456 scores, welcoming charter schools and hiring 1,367 administrators from the business world. Mr. de 1,275 1,300 Blasio is expanding prekindergarten citywide, scaling up after-school programs at middle 1,100,000 schools and de-emphasizing test prep. He negotiated a contract with the teachers’ union that will cut instructional time and add hours for 1,036,053 teacher training and parent engagement 1,091,717 beginning in September. The new mayor doesn’t like to gauge the school system by standardized exam results, but critics will likely use those 1,000,000 scores to judge the success of his reforms. 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 Source: NYC Independent Budget Office

High-school students step up Charters rise from nothing The city’s high-school graduation rate rebounded in 2013 after dipping the year before, when the state More than 150 charter schools have opened in the five rolled out stricter graduation requirements. Citywide, 66% of the class graduated in four years, a record boroughs, gaining almost the same number of students that high and 1.3 points over 2012’s rate. The cohort that started high school in 2008 was the first required traditional public schools have lost. But despite their nearly to score 65 or higher on five Regents exams. Despite significant gains by minority students in the past 13-fold increase in enrollment, charters still account for only 10 years—61% of blacks and 59% of Hispanics in the class of 2013 graduated in four years—the long- 4.3% of city students in kindergarten through 12th grade. standing gap between them and white students barely narrowed. K-12 enrollment HS graduation rates by ethnicity 2008 2009 2010 2011 2012 2013 Public DOE schools Private schools Public charter schools 80 EDUCATION 60

1,091,717 1,036,053 40

20

265,000 4,442 241,900 57,161 0 2002-03 2012-13 Asian Black Hispanic White All Sources: NYS Department of Education, NYC Independent Budget Office and NYC Four-year graduation rates, including August graduates. Source: NYC Department of Education Charter School Center

NYC public-school teachers NYC student spending From 2001 to 2012, the city’s instructional staff shrank 4.8%, got Where does that $20,226 go? Two-thirds of it four years younger, became even more disproportionately female, $20,226 pays for teachers’ salaries, health care and pensions. and became more Asian and Hispanic and less black and white. But its most dramatic shift was among special education teachers, PER-PUPIL SPENDING Instructional wages who grew to make up 25.3% of staff, up from 17.1%. for K-12 in NYC 42% Source: Citizens Budget Commission 2000-01 2011-12 Instructional benefits Head count 77,088 73,373 25% General ed 63,905 54,778 Special ed 13,183 18,595 Support services Median age 44 40 22% Female 73.2% 76.0% Other instructional costs White 62.6% 58.6% 8% Black 21.1% 19.6% Hispanic 12.8% 14.4% Other Asian 3.2% 5.9% 2% Left within one year 21% 9%* Percentages do not add up to 100% because of rounding.

*2010-2011. Source: NYC Independent Budget Office newscom Source: U.S. Census Bureau via Citizens Budget Commission

30% AND 26% of NYC students passed 2013 state math and English tests, respectively—down 30 and 21 points from 2012. Statewide drops were 34 and 24.

August 18, 2014 | Crain’s New York Business | 19 20140818-NEWS--0020,0021-NAT-CCI-CN_-- 8/14/2014 5:42 PM Page 1

2014 STATS AND THE CITY

Most gentrified neighborhoods Cities within Gentrification means different things to different people, but through the simple lens of broad-based income gain, five of the city’s 59 community districts have trumped the field. These areas had the largest percentage the city increases in median household income over a 32-year period. Change in median household income, 1980-2012 (figures in parentheses are for 2012) he five boroughs have been one city 150% since 1898, but the differences among +150% +141% T them—from economics to culture—can +140% +136% be striking. Manhattan has the priciest 120 property and several dozen billionaires, but suburban Staten Island boasts the highest +106 % median household income. Brooklyn’s 90 northern neighborhoods have become ($88,610) ($87,726) ($104,603) ($104,603) ($77,014) Gotham’s trendiest, and its brownstone areas 60 have gentrified with gusto. The boom in hotel construction has come to Queens, where immigrant enclaves give the county many 30 faces. The Bronx, arguably the grittiest 0 borough, has stabilized and slowly rebounded Brooklyn CD 6 Manhattan CD 4 Manhattan CD 2 Manhattan CD 1 Brooklyn CD 2 from its desperate days, though its pockets of (Park Slope, (Chelsea, Clinton) (Greenwich Village, (Battery Park, TriBeCa) (Brooklyn Heights, Carroll Gardens, SoHo) Fort Greene) poverty remain among the most concentrated Red Hook) in the nation. CD: community district. Source: Manhattan Institute

Straphangers surge Bike commuting gets rolling Statistics showing that Brooklyn’s subway ridership has grown substantially are no surprise to The portion of New York City workers who commute by bicycle is anyone who has tried to board a rush-hour train in Williamsburg. But the Bronx’s gain might small but nearly tripled from 1990 to 2012. Not uniformly, though: turn some heads. It was up sixfold in Brooklyn but only 50% in the Bronx and actual- ly fell in Staten Island. Change in average weekday subway ridership, 2008-2013 Portion of commuters using bicycles

10%

1.4% 8 Brooklyn Manhattan Queens +8.4% Bronx Staten Island Total +7.1% 6 buck ennis BOROUGHS

0.7 4 +3.3%

2 +2.1%

0 0.0 Brooklyn Bronx Manhattan Queens 1990 2000 2012

Source: Metropolitan Transportation Authority Source: U.S. Census Bureau

Starring role for Brooklyn Single-mom households Brooklyn, once the butt of jokes, has become the city’s “It” borough The portion of households with children headed —a metamorphosis reflected in the 14 episodic TV shows based by single mothers has long been much higher in 20 there in the 2013-2014 season, out of 29 citywide. In 2002-2003, the Bronx than in the four other boroughs, and Brooklyn had just one (Third Watch) of the city’s seven TV series. the gap grew even larger between 2000 and 2012. NUMBER of dogs per Shows based in Brooklyn in the 2013-2014 season: 1,000 residents of The Americans FX Bronx NYC Staten Island, twice the Believe NBC 60% city as a whole 54% Blue Bloods CBS 51% Source: NYC Department of Health and 50 Mental Hygiene via WNYC, 2012 American Boardwalk Empire HBO Community Survey Broad City Comedy Central 40 The Carrie Diaries CW 36% 34% The Following Fox 30 The Good Wife CBS Hostages CBS 20 The Knick Cinemax 57.6% Power Starz PORTION 10 of Queens Royal Pains USA residents who commute to Unforgettable CBS 0 jobs outside their borough, Us and Them Fox 2000 2012 the highest rate in the city Source: NYC Mayor's Office of Media and Entertainment Source: U.S. Census Bureau Source: NYC Economic Development Corp.

MOST COMMON GRUBHUB/SEAMLESS ORDER: MANHATTAN: Empanada B’KLYN: Smoothie QUEENS: Egg sandwich BRONX: Tostada S.I.: Rice ball

20 | Crain’s New York Business | August 18, 2014 20140818-NEWS--0020,0021-NAT-CCI-CN_-- 8/14/2014 5:42 PM Page 2

Neighborhoods in need Mobile data speeds Nowhere in New York City is poverty more concentrated than in the Bronx, where two com- Manhattan may have the offices and Brooklyn the cachet, but a recent study found that the Bronx munity districts trail the city’s 57 others by an astounding margin in median household has the fastest 4G network in the city. income, and lead in the share of population under the federal poverty level. 15 Median household income by community district 13.5 Download Upload

12 11.4 11.6

Poverty rate 9.6 9.3 Bronx 1 (Mott Haven, Port Morris) 9 $20,867 42% 5.8 6 5.2 Bronx 1 (Hunts Point) 4.8 4.9 4.7 $20,867 42% 3 Brooklyn 16 (Ocean Hill, Brownsville)

$27,166 38% 0 Bronx Brooklyn Manhattan Queens Staten Island Brooklyn 13 (Coney Island, Brighton) Figures are megabits per second. Source: Rootmetrics via Center for an Urban Future $29,712 27%

Manhattan 11 (East Harlem) $31,079 30% Places to stay

Brooklyn 5 (East New York) With 374 hotels, Manhattan continues to dominate the city’s hospitality industry. But the number of rooms in Brooklyn and Queens has surged as developers responded to an underserved market. $31,986 34% The Bronx, however, still has so few rooms that it was excluded from this count.

Manhattan 10 (Central Harlem) Change in number of hotel rooms since 2010 (room totals are for June 2014) $36,112 28% 4,030 35% Queens 4 (Corona, Elmhurst) 30 34.6% 10,543 $44,412 22% 25 20 86,932 Queens 3 (Jackson Heights) 25.1% 15 $46,119 23% 10 18.1% 719 Staten Island 1 (Stapleton) 5 7.5% $57,283 20% 0 Brooklyn Queens Manhattan Staten Island* 2010-2012 median income. Source: Manhattan Institute *Since 2011. Source: STR Inc.

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August 18, 2014 | Crain’s New York Business | 21 P022-25CL_CN_20140818.qxp 8/15/2014 11:10 AM Page 22

TO PLACE A CLASSIFIED AD, CALl 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM COMMERCIAL REAL ESTATE PUBLIC & LEGAL NOTICES Notice of Qualification of Crossroads Notice of Qualification of UNIVERSAL Notice of Qualification of Elysium Ampersand Bay Resort & Boat Club Pool I Owner LLC. Authority filed with AWARDS MANAGEMENT, LLC. Digital, L.L.C. Authority filed with NY NY Dept. of State on 6/24/14. Office Authority filed with Secy. of State of NY Dept. of State on 5/30/14. Office real estate auction location: NY County. Princ. bus. addr.: (SSNY) on 06/02/14. Office location: location: NY County. Princ. bus. addr.: 250 Park Ave. South, 3rd Fl., NY, NY NY County. LLC formed in Delaware 2 Oliver St., 11th Fl., Boston, MA 10003. LLC formed in DE on 6/23/14. (DE) on 05/28/14. SSNY designated 02109. LLC formed in DE on 4/25/97. Offered in cooperation with NY Sec. of State designated agent of as agent of LLC upon whom process NY Sec. of State designated agent of LLC upon whom process against it may against it may be served. SSNY shall LLC upon whom process against it be served and shall mail process to: mail process to c/o Corporation may be served and shall mail process CT Corporation System, 111 8th Ave., Service Co., 80 State St., Albany, NY to: c/o CT Corporation System, 111 NY, NY 10011. DE addr. of LLC: 1209 12207-2543. DE addr. of LLC: 2711 8th Ave., NY, NY 10011, regd. agent Orange St., Wilmington, DE 19801. Centerville Rd., Ste. 400, Wilmington, upon whom process may be served. Cert. of Form. filed with DE Sec. of DE 19808. Arts. of Org. filed with DE addr. of LLC: 1209 Orange St., State, 401 Federal St., Dover, DE Secy. of State, 401 Federal St., Ste. Wilmington, DE 19801. Cert. of Form. Turnkey Opportunity on Lower Saranac Lake 19901. Purpose: all lawful purposes. 3, Dover, DE 19901. Purpose: Any filed with DE Sec. of State, 401 lawful activity. Federal St., Dover, DE 19901. +/- +/- Notice of Formation of Mohegan 14 Suites • 8 Cottages • 1,000 ft Shoreline • 28 ac Purpose: all lawful purposes. North Bend LLC. Arts. of Org. filed Notice of Formation of 91/93/95 Owner is retiring. Includes equipment, fixtures, furniture and boats. Please call with Secy. of State of NY (SSNY) on HIGHGATE LLC. Arts. of Org. filed Notice of Formation of Laika 918.362.6565 for viewing appointment. 7/8/14. Office location: NY County. with Secy. of State of NY (SSNY) on Productions, LLC. Arts. of Org. filed Auction: 12pm EDT Saturday October 4 at 31 Bayside Dr, Saranac Lake, NY SSNY designated as agent of LLC 07/12/13. Office location: NY County. with Secy. of State of NY (SSNY) on Nominal Opening Bid: $1 Million upon whom process against it may Princ. office of LLC: 241 W. 37th St., 06/24/14. Office location: NY County. be served. SSNY shall mail process 3rd Fl., NY, NY 10018. SSNY desig- SSNY designated as agent of LLC williamsauction.com/ampersand • 800.801.8003 to: c/o Seymour Alpert, 1930 nated as agent of LLC upon whom upon whom process against it may NY DEAN C. WILLIAMS RE LIC 32WI0834875. ADIRONDACK PREMIER PROPERTIES INC. BROKER MARGIE PAPIER PHILO, 2429 Broadway, NY, NY 10023. Purpose: process against it may be served. be served. SSNY shall mail process TOMMY WILLIAMS RE LIC 10301208942. BUYER’S PREMIUM MAY APPLY. MAIN STREET, LAKE PLACID, NY 12946, 518-524-7347. any lawful activity. SSNY shall mail process to the LLC to: 242 West 30th St., 6th Fl., NY, NY at the addr. of its princ. office. 10001. Purpose: any lawful activities. Notice of Qualification of WT 3G Purpose: Any lawful activity. BUSINESS SERVICES PUBLIC & LEGAL LLC. Authority filed with NY Dept. of Notice of Formation of Broadway State on 6/13/14. Office location: NY Notice of Formation of 269 WEST 11TH Decatur Master Leasing LLC. Arts. of Professional NOTICES LLC. Arts. of Org. filed with Secy. of Org. filed with Secy. of State of NY Outsourced County. LLC formed in DE on 4/21/14. NY Sec. of State designated State of NY (SSNY) on 07/02/14. (SSNY) on 6/12/14. Office location: NY Bookkeeping Notice of Formation of East 162nd Services agent of LLC upon whom process Office location: NY County. Princ. County. SSNY designated as agent of Street Associates LLC. Arts. of Org. against it may be served and shall office of LLC: 269 W. 11th St., NY, NY LLC upon whom process against it may Customized services to fit your needs: filed with Secy. of State of NY (SSNY) • QuickBooks Advisors & Training Available mail process to: c/o CT Corporation 10014. SSNY designated as agent of be served. SSNY shall mail process to: on 5/21/14. Office location: NY County. • Financial Statements, Tax Returns, System, 111 8th Ave., NY, NY 10011, LLC upon whom process against it c/o Alembic Community Development, SSNY designated as agent of LLC Cash Management regd. agent upon whom process may may be served. SSNY shall mail 11 Hanover Square, #701, NY, NY upon whom process against it may Please call Amanda Zyta • 212-631-9500 be served. DE addr. of LLC: 1209 process to c/o Corporation Service 10005. Purpose: any lawful activity. be served. SSNY shall mail process Orange St., Wilmington, DE 19801. Co., 80 State St., Albany, NY 12207. to: c/o B&B Supportive LLC, 419 Notice of Formation of EMPIRE Cert. of Form. filed with DE Sec. of Purpose: Any lawful activity. South, 18th Fl., NY, NY COMPOUNDING SERVICES II, LLC. TELECOMMUNICATIONS State, 401 Federal St., Dover, DE 10016. Purpose: any lawful activity. THERAPY WEST PSYCHOLOGY Arts. of Org. filed with Secy. of State 19901. Purpose: all lawful purposes. NYC'S MOTOROLA LMSW, PLLC, a Prof. LLC, Arts. of of NY (SSNY) on 06/03/14. Office Notice of Formation of SAGE MAN- location: NY County. Princ. office of NOTICE OF FORMATION OF LIMITED Org. filed with the SSNY on 10/03/2011. MOTOTRBO SPECIALISTS AGEMENT NYC, LLC. Arts. of Org. LLC: Victor Ventures, 460 Park Ave., LIABILITY COMPANY. NAME: HAY Office loc: NY County. SSNY has been MOTOTRBOTM filed with Secy. of State of NY 17th Fl., NY, NY 10022. SSNY desig- PARTNERS LLC. Articles of Organization designated as agent upon whom Professional Digital Two-way Radio (SSNY) on 07/01/14. Office location: nated as agent of LLC upon whom System provides significant productivity were filed with the Secretary of State process against it may be served. NY County. SSNY designated as process against it may be served. gains - reliably and affordably. of New York (SSNY) on 10/19/05. SSNY shall mail process to: Jeffrey I. agent of LLC upon whom process SSNY shall mail process to the LLC • Clearer voice capability and enhanced Office location: New York County. Kassinove, Ph.D., 124 W. 79th St., battery life against it may be served. SSNY shall at the addr. of its princ. office. SSNY has been designated as agent Ste 1B, NY, NY 10024. Purpose: To • Integrated voice and data for better mail process to the LLC, Attn: Rabbi Purpose: Any lawful activity. productivity and privacy of the LLC upon whom process Practice The Profession Of Psychology David Korn, 353 Bowery, NY, NY • Text messaging against it may be served. SSNY shall and Licensed Master Social Worker. Notice of Qualification of RCX • Doubles channel call capacity for 10003. Purpose: Any lawful activity. the price of one license mail a copy of process to the LLC, Notice of Qualification of HUDSON Partners LLC filed with the NY Dept. P.O. Box 1755, New York, New York of State on July 1, 2014. LLC formed *$100 TRADE-IN PER RADIO Notice of Qual. of CMC Real Estate PROJECT LLC. Authority filed with 10156-1755, ATTN: Farbod Hay. in NYS on June 30, 2014. NY Sec. of Call to learn more or to LLC, with a fictitious name of CMC Secy. of State of NY (SSNY) on schedule a professional, Brickell Miami Real Estate LLC, Auth. Purpose: For any lawful purpose. 06/16/14. Office location: NY County. State designated agent of LLC upon no-obligation survey or whom process against it may be filed Sec'y of State (SSNY) 2/25/14. Notice of Formation of GG RED LLC formed in Delaware (DE) on on-site demo. Office loc.: NY County. LLC org. in 01/16/14. Princ. office of LLC: 430 served and shall mail process to HOLDING, LLC. Arts. of Org. filed office location c/o Murray Hill FL 1/6/14. SSNY desig. as agent of with Secy. of State of NY (SSNY) on Park Ave., 6th Fl., NY, NY 10022. SSNY LLC upon whom process against it designated as agent of LLC upon whom Properties , 21st 07/25/14. Office location: NY County. floor. Purpose: All lawful purposes. may be served. SSNY shall mail SSNY designated as agent of LLC process against it may be served. SSNY copy of proc. to Vanessa Grout, 701 upon whom process against it may shall mail process to c/o Corporation 545WALDINE LLC, Arts. of Org. filed Brickell Ave., #2410, Miami, FL Service Co., 80 State St., Albany, NY with the SSNY on 07/29/2014. Office 33 East 33rd Street be served. SSNY shall mail process 33131, the principal office addr. of to Marc Fitapelli, Esq., 475 Park Ave. 12207-2543. DE addr. of LLC: 2711 loc: NY County. SSNY has been New York, NY 10016 LLC. Art. of Org. on file: SSFL, PO Centerville Rd., Ste. 400, Wilmington, 212-532-7400 South, 12 Fl., NY, NY 10016. designated as agent upon whom www.metrocomradio.com Box 6327, Tallahassee, FL 32314. Purpose: Any lawful activity. DE 19808. Arts. of Org. filed with Secy. process against the LLC may be Purp.: any lawful activities. of State, 401 Federal St., #3, Dover, DE served. SSNY shall mail process to: T LINE MANAGEMENT LLC, Arts of 19901. Purpose: Banking reasons. C/O Mintz & Gold LLP, 470 Park Ave. Cephus Partners, LLC. Arts. of Org. Org filed with SSNY on 12/09/13. Notice of Qualification of DYE Fine S., 10th Flr. N., NY, NY 10016. filed with Secy. of State of NY (SSNY) Off. Loc.: New York County. SSNY PUBLIC & LEGAL Art, LLC. Authority filed with NY Dept. Purpose: Any Lawful Purpose. on 07/15/14. Off. loc.: NY Co. SSNY designated as agent of LLC upon of State on 6/2/14. Office location: NOTICES des. as agent of LLC upon whom whom process against it may be Notice of Qualification of DOLP 825 NY County. LLC formed in DE on process may be served. SSNY shall served. SSNY shall mail a copy of PROPERTIES II LLC. Authority filed Notice of Qualification of Especial LLC. 5/13/14. NY Sec. of State designated mail process to Manhattan Laminates, process to: The LLC, 160 W. 66th with Secy. of State of NY (SSNY) on Authority filed with Secy. of State of NY agent of LLC upon whom process Attn: Beth Thornton, 624 W 52nd St., St., #29D, New York, NY 10023. 07/25/14. Office location: NY County. (SSNY) on 02/12/14. Office location: against it may be served and shall New York, NY 10019. Purpose: General. Purpose: to engage in any lawful act. LLC formed in Delaware (DE) on NY County. LLC formed in Delaware mail process to: DYE Fine Art, LLC, 24 07/24/14. SSNY designated as agent (DE) on 02/10/14. SSNY designated Notice of Formation of TNT DYNAMITE Notice of Formation of DONALBANE Vestry St., NY, NY 10013, principal of LLC upon whom process against it as agent of LLC upon whom process LLC. Arts. of Org. filed with Secy. of HOUSE LLC. Arts. of Org. filed with business address. DE address of LLC: may be served. SSNY shall mail against it may be served. SSNY shall State of NY (SSNY) on 07/22/14. Secy. of State of NY (SSNY) on The Corporation Trust Co., 1209 process to c/o Royal Realty Corp., mail process to: National Registered Office location: NY County. SSNY 07/28/14. Office location: NY County. Orange St., Wilmington, DE 19801. Attn: Corporate Counsel, One Bryant Agents, Inc., 111 Eighth Ave., NY, NY designated as agent of LLC upon SSNY designated as agent of LLC Cert. of Form. filed with DE Sec. of Park, NY, NY 10036. DE addr. of LLC: 10011, also the registered agent. whom process against it may be upon whom process against it may State, 401 Federal St., Dover, DE c/o Corporation Service Co., 2711 Address to be maintained in DE: served. SSNY shall mail process to be served. SSNY shall mail process 19901. Purpose: all lawful purposes. Centerville Rd., Ste. 400, Wilmington, National Registered Agents, Inc., 160 Corporation Service Co., 80 State to c/o Corporation Service Co., 80 DE 19808. Arts. of Org. filed with 747 STUYVESANT IV, L.P. filed an App. Greentree Dr., Ste. 101, Dover, DE St., Albany, NY 12207-2543, regd. State St., Albany, NY 12207-2543. Secy. of the State of DE, Div. of for Authority with the NY Department 19904. Arts of Org. filed with the DE agent upon whom and at which Purpose: Any lawful activity. Corps., John G. Townsend Bldg., of State on 2/13/2014. Jurisdiction: DE, Secy. of State, Division of Corporations, process may be served. Purpose: 401 Federal St., Ste. 4, Dover, DE Notice of Qualification of BLUE RI and the date of its formation is 401 Federal St., Ste. 4, Dover, DE Any lawful activity. 19901. Purpose: Any lawful activity. 19901. Purpose: any lawful activities. ADVISORY (USA), LLC. Authority filed 4/16/2013. Office location in NYS: New Notice of Qualification of REQX with Secy. of State of NY (SSNY) on York County. The Secretary of State Notice of Qualification of Crestview Notice of Qualification of Custom BIKESHARE LLC. Authority filed with 07/09/14. Office location: NY County. of NY ("SSNY") is designated as Partners III (DE Offshore), L.P. House USA, LLC. Authority filed with Secy. of State of NY (SSNY) on LLC formed in Delaware (DE) on agent upon whom process against it Authority filed with NY Dept. of State NY Dept. of State on 6/5/14. NYS 07/11/14. Office location: NY County. 12/10/13. Princ. office of LLC: c/o may be served. The address to which on 6/16/14. Office location: NY County. fict. name: Western Union Business LLC formed in Delaware (DE) on BlueMountain Capital Management, the SSNY shall mail a copy of such Princ. bus. addr.: 667 Madison Ave., Solutions, LLC. Office location: NY 07/02/14. Princ. office of LLC: 895 LLC, Attn: Paul Friedman, 280 Park process is: Attn: Mr. Gijs van Thiel, c/o 10th Fl., NY, NY 10065. LP formed in County. Princ. bus. addr.: 12500 E. Broadway, NY, NY 10003. SSNY des- Ave., 12th Fl., NY, NY 10017. SSNY 747 Capital, LLC, 880 Third Ave., 17th DE on 6/10/14. NY Sec. of State Belford Ave., Englewood, CO 80112. ignated as agent of LLC upon whom designated as agent of LLC upon Flr. NY NY 10022 The address in its designated agent of LP upon whom LLC formed in DE on 5/31/14. NY Sec. process against it may be served. whom process against it may be jurisdiction if required or the office process against it may be served and of State designated agent of LLC SSNY shall mail process to the LLC served. SSNY shall mail process to address: 2711 Centerville Rd., Suite shall mail process to: CT Corporation upon whom process against it may be at the princ. office of the LLC. DE the LLC at the addr. of its princ. office. 400, Wilmington DE 19808. A copy System, 111 8th Ave., NY, NY 10011. served and shall mail process to: CT addr. of LLC: c/o Corporation Service DE addr. of LLC: c/o Corporation of the Articles of Organization may DE addr. of LP: c/o The Corporation Corporation System, 111 8th Ave., Co., 2711 Centerville Rd., Ste. 400, Service Co., 2711 Centerville Rd., be obtained from Sect'y of State of Trust Co., 1209 Orange St., NY, NY 10011. DE addr. of LLC: 1209 Wilmington, DE 19808. Arts. of Org. Ste. 400, Wilmington, DE 19808. DE, 401 Federal St., Dover DE 19901. Wilmington, DE 19801. Name/addr. Orange St., Wilmington, DE 19801. filed with Secy. of State of the State Arts. of Org. filed with DE Secy. of The list of names and addresses of of genl. ptr. available from NY Sec. of Cert. of Form. filed with DE Sec. of of DE, John G. Townsend Bldg., 401 State, John G. Townsend Bldg., 401 all general partners is available from State. Cert. of LP filed with DE Sec. State, 401 Federal St., Dover, DE Federal St., Ste. 3, Dover, DE 19901. Federal St., Ste. #4, Dover, DE the Secretary of State. The purpose of State, 401 Federal St., Dover, DE 19901. Purpose: all lawful purposes. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity. of the LP is any lawful act. 19901. Purpose: all lawful purposes.

22 | Crain’s New York Business | August 18, 2014 P022-25CL_CN_20140818.qxp 8/15/2014 10:56 AM Page 23

TO PLACE A CLASSIFIED AD, CALl 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of Cerberus KRS Notice of Qualification of RWAY Notice of Qualification of Dune Application for Authority of Maison NOTICE OF QUALIFICATION OF GSO Levered Loan Opportunities Fund, PRIVATE EQUITY MANAGERS Parallel AIV II LP. Authority filed with de Beaute, LLC doing business in European Senior Debt Associates L.P. Authority filed with Secy. of State FOREIGN INCOME BLOCKER LLC. NY Dept. of State on 7/3/14. Office NY as Bespoke Beaute LLC, filed LLC. Authority filed with the Sect of of NY (SSNY) on 06/20/14. Office Authority filed with Secy. of State of NY location: NY County. Princ. bus. addr.: with the Secy. of State of NY (SSNY) State of NY (SSNY) on 5/15/14. N.Y. location: NY County. LP formed in (SSNY) on 07/23/14. Office location: 623 5th Ave., 30th Fl., NY, NY 10022. 5/29/14. Formed in DE 5/19/14. Office Loc: NY County. LLC formed Delaware (DE) on 06/09/14. Princ. NY County. LLC formed in Delaware LP formed in DE on 6/30/14. NY Sec. Office loc.: New York Co. SSNY is in DE on 4/16/14. SSNY has been office of LP: Seth P. Plattus, c/o (DE) on 07/03/13. Princ. office of LLC: of State designated agent of LP upon designated as agent of LLC upon designated as agent of LLC upon Cerberus Levered Loan Opportunities 200 West St., 38th Fl., NY, NY 10282. whom process against it may be whom process against it may be whom process against it may be Fund II, L.P., 875 Third Ave., 11th Fl., SSNY designated as agent of LLC served and shall mail process to: c/o served. The principal business loc. served and shall mail process to: 345 NY, NY 10022. SSNY designated as upon whom process against it may be CT Corporation System, 111 8th Ave., is 24 W. 40th St., 10th Fl., New York, Park Avenue, 31st FL, NY, NY 10154. agent of LP upon whom process served. SSNY shall mail process to NY, NY 10011, regd. agent upon NY 10018. The address SSNY shall DE addr. of LLC: 200 Bellevue Pkwy, against it may be served. SSNY shall c/o Corporation Service Co. (CSC), 80 whom process may be served. DE mail copy of process to and the Ste 210, Wilmington, 19809. Cert of mail process to the LP at the addr. of State St., Albany, NY 12207-2543. DE addr. of LP: 1209 Orange St., required office address maintained in Form filed with DE Sect of State, 401 its princ. office. Name and addr. of addr. of LLC: CSC, 2711 Centerville Wilmington, DE 19801. Name/addr. of DE is 305 N. Ashview Lane, Greenville, Federal St, Ste 4, Dover, DE 19901. each general partner are available Rd., Ste. 400, Wilmington, New each genl. ptr. available from NY Sec. DE 19808. Cert. of formation filed Purpose: any lawful activity. from SSNY. DE addr. of LP: c/o The Castle Cnty., DE 19808. Arts. of Org. of State. Cert. of LP filed with DE Sec. with Jeffrey W. Bullock, DE Secretary Corporation Trust Co., Corp. Trust filed with Secy. of State of DE, Div. of of State, 401 Federal St., Dover, DE of State, Div. of Corporations, P.O. Notice of Formation of Simit & Smith Center, 1209 Orange St., Wilmington, Corps., John G. Townsend Bldg., 401 19901. Purpose: all lawful purposes. Box 898, Dover, DE 19903. Purpose: 11 Waverly Place LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) DE 19801. Arts. of Org. filed with DE Federal St. - Ste. 4, Dover, DE 19901. Notice of Qual. of Valarc GP, LLC, Any lawful activity. Secy. of State, John G. Townsend Purpose: Making investments. on 07/02/14. Office location: NY Auth. filed Sec'y of State (SSNY) Notice of Formation of Euro Mec County. SSNY designated as agent Bldg., 401 Federal St., Ste. #4, Dover, Notice of Formation of Akeedube 9/3/13. Office loc.: NY County. LLC Utilities, LLC. Arts. of Org. filed with DE 19901. Purpose: Any lawful activity. of LLC upon whom process against it License Holdings, LLC. Arts of Org. org. in DE 8/15/13. SSNY desig. as NY Dept. of State on 6/11/14. Office may be served. SSNY shall mail Notice of Formation of FDB 111 filed with Secy of State of NY (SSNY) agent of LLC upon whom process location: NY County. Princ. bus. process to: 11 Waverly Place, NY, NY Street LLC. Arts. of Org. filed with NY on 05/28/2014. Office location: New against it may be served. SSNY shall addr.: 250 Park Ave., 7th Fl., NY, NY 10003. Purpose: any lawful activities. Dept. of State on 2/11/14. Office York County. Princ. office of LLC: 145 mail copy of proc. to Att: Hari 10177. Sec. of State designated location: NY County. Princ. bus. addr.: East , New York, NY 10022. Ramanan, 900 Third Ave., Ste. 202, agent of LLC upon whom process Notice of Formation of Consulate 825 3rd Ave., Fl 37, NY, NY 10022. SSNY designated as agent of LLC NY, NY 10022. DE off. addr.: CSC, against it may be served and shall Hotel Holdings II, LLC, Art. of Org. Sec. of State designated agent of upon whom process against it may 2711 Centerville Rd., Wilmington, DE mail process to: c/o Wilk Auslander filed Sec'y of State (SSNY) 2/20/14. LLC upon whom process against it be served. SSNY shall mail process 19808. Cert. of Form. on file: SSDE, LLP, 1515 Broadway, 43rd Fl., NY, NY Office location: NY County. SSNY may be served and shall mail to the LLC at the addr. of its princ. Townsend Bldg., Dover, DE 19901. 10036. Purpose: all lawful purposes. designated as agent of LLC upon whom process against it may be process to: CT Corporation System, Office. Purpose: Any lawful activity. Purp.: any lawful activities. Notice of Formation of Rockledge HV 111 8th Ave., NY, NY 10011, regd. served. SSNY shall mail copy of Notice of Formation of ASCEND Notice of Qual. of Valarc Holdings, LLC, LLC, Art. of Org. filed Sec'y of State agent upon whom process may be process to c/o Hampshire Hotels ASSOCIATES, LLC. Arts. of Org. filed Auth. filed Sec'y of State (SSNY) (SSNY) 5/13/14. Office location: NY served. Purpose: any lawful activity. Mgmt., 200 W. 55th St., Ste. 42, NY, NY with Secy. of State of NY (SSNY) on 9/3/13. Office loc.: NY County. LLC County. SSNY designated as agent 10019. Purpose: any lawful activities. Notice of Formation of Kubany Judlowe, 5/28/14. Office location: NY County. org. in DE 8/15/13. SSNY desig. as of LLC upon whom process against LLC. Name: Kubany Judlowe, LLC. SSNY designated as agent of LLC agent of LLC upon whom process it may be served. SSNY shall mail Notice of Formation of Buttonwood Articles of Organization filed with the upon whom process against it may against it may be served. SSNY shall copy of process to NRAI, 111 Eighth Holdings LLC. Arts. of Org. filed with Secretary of State of New York on be served. SSNY shall mail process mail copy of proc. to Att: Hari Ave., NY, NY 10011. Purpose: any Secy. of State of NY (SSNY) on May 21, 2014. NY Office Location: to: David Patrick Seklir, 54 Riverside Ramanan, 900 Third Ave., Ste. 202, lawful activities. 07/18/14. Office location: NY County. SSNY designated as agent New York County. SSNY has been Drive, No. 8B, NY, NY 10024. NY, NY 10022. DE off. addr.: CSC, Notice of Qual. of SLG Manager LLC, designated as agent of LLC upon Purpose: any lawful activity. 2711 Centerville Rd., Wilmington, DE of LLC upon whom process against Auth. filed Sec'y of State (SSNY) it may be served. SSNY shall mail whom process may be served and Notice of Qual. of Malachite Capital 19808. Cert. of Form. on file: SSDE, 5/5/14. Office loc.: NY County. LLC shall mail copy of process against Townsend Bldg., Dover, DE 19901. process to: c/o Jacqueline Pestana, GP LLC, Auth. filed Sec'y of State org. in DE 4/29/14. SSNY desig. as 33 Irving Pl., NY, NY 10003. LLC to principal business address: (SSNY) 10/22/13. Office loc.: NY Purp.: any lawful activities. agent of LLC upon whom process Kubany Judlowe, LLC, 1123 Purpose: any lawful activities. County. LLC org. in DE 8/30/13. SSNY Notice of Formation of WEST 76 against it may be served. SSNY shall Broadway, Suite 1011, New York, New Notice of Formation of Trilogy Advisors desig. as agent of LLC upon whom HARRISON 9A, LLC. Arts. of Org. mail copy of proc. to NRAI, 111 York 10010. Purpose: any lawful act. LLC. Arts. of Org. filed with Secy. of process against it may be served. filed with Secy. of State of NY (SSNY) Eighth Ave., NY, NY 10011, the Reg. State of NY (SSNY) on 6/23/14. Notice of Formation of alayna nicole, SSNY shall mail copy of proc. to Att: on 12/08/10. Office location: NY Agt. upon whom proc. may be served. Office location: NY County. SSNY LLC. Arts. of Org. filed with NY Dept. Jacob Weinig, 3 , County. Princ. office of LLC: 205 W. DE off. addr.: 160 Greentree Dr., Ste. designated as agent of LLC upon of State on 6/24/14. Office location: NY, NY 10019. DE off. addr.: CSC, 76th St., Apt. 9A, NY, NY 10023. 101, Dover, DE 19904. Cert. of Form. whom process against it may be NY County. Sec. of State designated 2711 Centerville Rd., Wilmington, DE SSNY designated as agent of LLC on file: SSDE, Townsend Bldg., Dover, served. SSNY shall mail process to: agent of LLC upon whom process 19808. Cert. of Form. on file: SSDE, upon whom process against it may DE 19901. Purp.: any lawful activities Laurence A. Levy, 1251 Avenue of the against it may be served and shall Townsend Bldg., Dover, DE 19901. be served. SSNY shall mail process Notice of Formation of Rapaport NY Americas, 49th Fl., NY, NY 10020. mail process to the principal business Purp.: any lawful activities. to c/o Corporation Service Co., 80 LLC. Arts. of Org. filed with Secy. of Purpose: any lawful act or activity. address of the LLC: 150 W 74th St., NOTICE OF FORMATION of Semona State St., Albany, NY 12207. Purpose: State of NY (SSNY) on 6/23/14. Apt 2E, NY, NY 10023-2312, Attn: Gems LLC. Arts of Org filed with Secy Any lawful activity. Office location: NY County. SSNY Notice of Formation of Manhattan Alayna N. Anderson. Purpose: all Dental Management Company LLC. of State of NY (SSNY) 5/14/14. Office Notice of Qual. of Valinor Capital designated as agent of LLC upon lawful purposes. location: NY Co. SSNY designated whom process against it may be Arts. of Org. filed with Secy. of State Partners SPV XVII, LLC, Auth. filed of NY (SSNY) on 7/2/14. Office loca- Notice of Formation of 134 WEST agent upon whom process may be Sec'y of State (SSNY) 12/4/13. Office served. SSNY shall mail process to: LLC. Arts. of Org. filed with Secy. of served and shall mail copy of process The LLC, 1212 Avenue of the tion: NY County. SSNY designated loc.: NY County. LLC org. in DE as agent of LLC upon whom State of NY (SSNY) on 5/21/14. against LLC to principal business 12/3/13. SSNY desig. as agent of Americas, 8th Fl., NY, NY 10036. Office location: NY County. SSNY address: 257 Central Park West, #8F, Purpose: any lawful activity. process against it may be served. LLC upon whom process against it SSNY shall mail process to: 286 designated as agent of LLC upon NY, NY 10024. Purpose: any lawful act. may be served. SSNY shall mail Notice of Formation of HIGHLINE 212 whom process against it may be Madison Ave., Ste. 1000, NY, NY Notice of Formation of Cory van den copy of proc. to Att: David LLC. Articles of Organization filed with 10017. Purpose: any lawful activity. served. SSNY shall mail process to: Bossche LLC. Arts. of Org. filed with Angstreich, 510 Madison Ave., 25th the Secretary of State of NY (SSNY) c/o Office of Lawrence E. Fabian, Secy. of State of NY (SSNY) on Fl., NY, NY 10022. DE off. addr.: CSC, on 5/23/14. Office Location: New Notice of Formation of Whim of Iron Esq., 437 5th Ave., Ste. 801, NY, NY 06/20/14. Office location: NY County. 2711 Centerville Rd., Wilmington, DE York County. SSNY has been desig- LLC. Arts. of Org. filed with NY Dept. 10016. Purpose: any lawful activity. SSNY designated as agent of LLC 19808. Cert. of Form. on file: SSDE, nated as agent upon whom process of State on 5/8/2014. Office location: NOTICE OF FORMATION OF LIMITED upon whom process against it may Townsend Bldg., Dover, DE 19901. against it may be served. SSNY shall NY County. Sec. of State designated LIABILITY COMPANY. NAME: 75 WALL be served. SSNY shall mail process Purp.: any lawful activities. mail copy of process to 1 Maiden agent of LLC upon whom process against it may be served and shall LLC.. Articles of Organization were to: TRAC- The Registered Agent Notice of Qualification of Washington Lane, 5th Floor, New York, NY mail process to the principal business filed with the Secretary of State of Company, Inc., 715 St. Paul St., Square Technologies LLC. Authority 10038. Purpose: Any lawful purpose. address: c/o New York Wheel LLC, 21 New York (SSNY) on 05/05/14. Office Baltimore, MD 21202. Purpose: any filed with NY Dept. of State on 3/27/14. Notice of Qual. of Indus Markor Penn Plaza, NY, NY 10001, Attn: Chief location: New York County. SSNY has lawful activities. Office location: NY County. LLC Partners, L.P., Auth. filed Sec'y of Executive Officer. Term: until 12/31/2114. been designated as agent of the LLC formed in DE on 3/4/14. NY Sec. of Notice of Formation of BEAUTIFUL State (SSNY) 11/13/13. Office loc.: NY Purpose: any lawful activity. upon whom process against it may be DARKNESS, LLC. Arts. of Org. filed State designated agent of LLC upon County. LP org. in DE 11/13/13. SSNY served. SSNY shall mail a copy of with Secy. of State of NY (SSNY) on whom process against it may be desig. as agent of LP upon whom THE SCHLEMMER FIRM, LLC, a process to the LLC, 17 N State Street, 07/16/14. Office location: NY County. served and shall mail process to: c/o process against it may be served. domestic LLC, filed with the SSNY Suite 1700, Chicago, Illinois 60602. Princ. office of LLC: 110 E. 25th St., CT Corporation System, 111 8th Ave., SSNY shall mail copy of proc. to Att: on 4/18/14. Office location: New York Purpose: For any lawful purpose. #102, NY, NY 10010-2913. SSNY NY, NY 10011. DE addr. of LLC: The Brian Guzman, 888 Seventh Ave., NY, County. SSNY is designated as agent upon whom process against the LLC Notice of Qualification of TRICADIA designated as agent of LLC upon Corporation Trust Co., 1209 Orange NY 10019. DE off. addr.: CSC, 2711 may be served. SSNY shall mail CONVEXITY GP, LLC. Authority filed whom process against it may be served. St., Wilmington, DE 19801. Cert. of Centerville Rd., Wilmington, DE 19808. process to Paul N. Schlemmer, 111 with Secy. of State of NY (SSNY) on SSNY shall mail process to the LLC, Form. filed with DE Sec. of State, Cert. of LP on file: SSDE, Townsend Broadway, Ste. 1305, NY, NY 10006. 06/24/14. Office location: NY County. 110 E. 25th St., 4th Fl., NY, NY 401 Federal St., Dover, DE 19901. Bldg., Dover, DE 19901. Name/addr. General Purposes. LLC formed in Delaware (DE) on 10010. Purpose: Any lawful activity. Purpose: all lawful purposes. of each gen. ptr. avail. at SSNY. 06/18/14. Princ. office of LLC: 780 Notice of Qualification of DREF II CIV Notice of Qualification of Crestview Purp.: any lawful activities. Notice of Qualification of WB58E66 Third Ave., 29th Fl., NY, NY 10017. I Feeder LP. Authority filed with NY Holdings III (DE Offshore), L.P. Notice of Qualification of MIP III REIT LLC. Authority filed with Secy. of SSNY designated as agent of LLC Dept. of State on 7/3/14. Office Authority filed with NY Dept. of State GP Feeder, LLC. Authority filed with State of NY (SSNY) on 06/02/14. upon whom process against it may be location: NY County. Princ. bus. on 6/16/14. Office location: NY County. NY Dept. of State on 8/7/14. Office Office location: NY County. LLC served. SSNY shall mail process to the addr.: 623 5th Ave., 30th Fl., NY, NY Princ. bus. addr.: 667 Madison Ave., location: NY County. Princ. bus. addr.: formed in Delaware (DE) on 05/28/14. LLC at the addr. of its princ. office. 10022. LP formed in DE on 6/30/14. 10th Fl., NY, NY 10065. LP formed in 125 W. 55th St., NY, NY 10019. LLC Princ. office of LLC: 10 Glenville St., The regd. agent of the company upon NY Sec. of State designated agent of DE on 6/10/14. NY Sec. of State formed in DE on 8/6/14. NY Sec. of 3rd Fl., Greenwich, CT 06831. SSNY whom and at which process against LP upon whom process against it designated agent of LP upon whom State designated agent of LLC upon designated as agent of LLC upon the company can be served is may be served and shall mail process process against it may be served and whom process against it may be whom process against it may be Michael Barnes, c/o Tricadia Capital to: c/o CT Corporation System, 111 shall mail process to: CT Corporation served and shall mail process to: c/o served. SSNY shall mail process to Management, LLC, 780 Third Ave., 8th Ave., NY, NY 10011, regd. agent System, 111 8th Ave., NY, NY 10011. CT Corporation System, 111 8th Ave., c/o Corporation Service Co., 80 29th Fl., NY, NY 10017. DE addr. of upon whom process may be served. DE addr. of LP: c/o The Corporation NY, NY 10011, regd. agent upon State St., Albany, NY 12207-2543. LLC: c/o National Corporate DE addr. of LP: 1209 Orange St., Trust Co., 1209 Orange St., Wilmington, whom process may be served. DE DE addr. of LLC: 2711 Centerville Research, Ltd., 615 S. DuPont Hwy., Wilmington, DE 19801. Name/addr. of DE 19801. Name/addr. of genl. ptr. addr. of LLC: c/o The Corporation Rd., Ste. 400, Wilmington, DE 19808. Dover, Kent Cnty., DE 19901. Arts. of each genl. ptr. available from NY Sec. available from NY Sec. of State. Cert. Trust Co., 1209 Orange St., Wilmington, Arts. of Org. filed with DE Secy. of Org. filed with Secy. of State of the of State. Cert. of LP filed with DE Sec. of LP filed with DE Sec. of State, 401 DE 19801. Cert. of Form. filed with DE State, John G. Townsend Bldg., 401 State of DE, 401 Federal St., Dover, DE of State, 401 Federal St., Dover, DE Federal St., Dover, DE 19901. Sec. of State, 401 Federal St., Dover, Federal St., Ste. 4, Dover, DE 19901. 19901. Purpose: Any lawful activity. 19901. Purpose: all lawful purposes. Purpose: all lawful purposes. DE 19901. Purpose: all lawful purposes. Purpose: Any lawful activity.

August 18, 2014 | Crain’s New York Business | 23 P022-25CL_CN_20140818.qxp 8/15/2014 10:56 AM Page 24

TO PLACE A CLASSIFIED AD, CALl 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qual. of Valarc Fund, LP, Qualification of GSO European Senior Qualification of GSO European Senior Notice of Qualification of ARCHER Notice of Qualification of ROUNDTABLE Auth. filed Sec'y of State (SSNY) Debt Fund LP. Authority filed with the Debt Feeder Fund LP. Authority filed CROSSBOW GP, L.L.C. Authority INTERNATIONAL DEVELOPED EQUITY 8/29/13. Office loc.: NY County. LP Sect. of State of NY (SSNY) on with the Sect. of State of NY (SSNY) on filed with Secy. of State of NY (SSNY) LP. Authority filed with Secy. of State org. in DE 8/15/13. SSNY desig. as 5/12/14. Office Loc: NY County. LP 5/12/14. Office Loc: NY County. LP on 07/31/14. Office location: NY of NY (SSNY) on 08/04/14. Office agent of LP upon whom process formed in Cayman Islands on 4/29/14. formed in Cayman Islands on 4/29/14. County. LLC formed in Delaware (DE) location: NY County. LP formed in against it may be served. SSNY shall SSNY has been designated as agent SSNY has been designated as agent on 07/09/14. Princ. office of LLC: 570 Delaware (DE) on 04/17/14. Princ. mail copy of proc. to Att: Hari of LP upon whom process against it of LP upon whom process against it Lexington Ave., 40th Fl., NY, NY 10022. office of LP: 280 Park Ave., 22nd Fl. - Ramanan, 900 Third Ave., Ste. 202, may be served and shall mail process may be served and shall mail process SSNY designated as agent of LLC East Tower, NY, NY 10017-1216. SSNY NY, NY 10022. DE off. addr.: CSC, to: , 31st FL, NY, NY to: 345 Park Avenue, 31st FL, NY, NY upon whom process against it may be designated as agent of LP upon whom 2711 Centerville Rd., Wilmington, DE 10154. Cayman Islands address of LP: 10154. Cayman Islands address of LP: served. SSNY shall mail process to process against it may be served. SSNY 19808. Cert. of LP on file: SSDE, c/o Maples Corporate Services Limited, c/o Maples Corporate Services Limited, the LLC at the princ. office of the LLC. shall mail process to Corporation Townsend Bldg., Dover, DE 19901. PO Box 309, Ugland House, South PO Box 309, Ugland House, South The regd. agent of the company upon Service Co. (CSC), 80 State St., Albany, Name/addr. of each gen. ptr. avail. at Church St, Grand Cayman, KY1-1104. Church St, Grand Cayman, KY1-1104. whom and at which process against NY 12207-2543. Name and addr. of SSNY. Purp.: any lawful activities. Name/addr. of genl. ptr. avail from Name/addr. of genl. ptr. avail from the company can be served is Joshua each general partner are available from SSNY. Cert. of LP filed with Registrar SSNY. Cert. of LP filed with Registrar Lobel at the princ. office of the LLC. SSNY. DE addr. of LP: CSC, 2711 Notice of Formation of LAW OFFICE of Companies, 133 Elgin Ave, George of Companies, 133 Elgin Avenue, DE addr. of LLC: 2711 Centerville Rd., Centerville Rd., Ste. 400, Wilmington, OF STACEY FABRIKANT LLC. Arts. Town, Grand Cayman, KY1-9000. George Town, Grand Cayman KY1- Ste. 400, Wilmington, DE 19808. Arts. New Castle Cnty., DE 19808. Arts. of of Org. filed with SSNY on 5/23/14. Purpose: any lawful activity. 9000. Purpose: any lawful activity. of Org. filed with Secy. of State of the Org. filed with DE Secy. of State, c/o Office location: New York County. State of DE, 401 Federal St., Dover, DE Div. of Corps., John G. Townsend Notice of Formation of EAT THIRD SSNY designated as agent of LLC Notice of formation of VGQ 19901. Purpose: Any lawful activity. Bldg., 401 Federal St., Dover, DE 79 LLC. Arts. of Org. filed with whom process against may be CONTRACTORS LLC Arts. of Org. 19901. Purpose: Any lawful activity. served. SSNY shall mail process to: Secy. of State of NY (SSNY) on filed with the Sect'y of State of NY NEW YORK WALL STREET HOTEL C/O THE LLC, 2 East End Ave. #C, 07/02/14. Office location: NY (SSNY) on 2/10/2014. Office location, GROUP LLC, Arts. of Org. filed with Notice of Formation of LLC. Fifth NY, NY 10075. Purpose: to engage County. Princ. office of LLC: 1064 County of New York. SSNY has been the SSNY on 02/06/2014. Office loc: NY Avenue Apartment, LLC. Arts. of Org. in the practice of Law. Madison Ave., NY, NY 10028. designated as agent of the LLC upon County. SSNY has been designated filed with Secy. of State of NY (SSNY) SSNY designated as agent of LLC whom process against it may be as agent upon whom process against on 4/29/2014. Office Location: New Notice of Formation Everwild Media upon whom process against it may served. SSNY shall mail process to: the LLC may be served. SSNY shall York County. SSNY designated as LLC Arts. of Org. filed with SSNY be served. SSNY shall mail process The LLC, 81 Franklin St., New York mail process to: Eva Y Tsai, 136 agent of LLC upon whom process 3/11/2009. Off. Loc.: New York Cnty. to the LLC at the addr. of its princ. NY 10013. Purpose: any lawful act. Schuessler Ln, Preston Hollow, NY against it may be served. SSNY SSNY designated as agent of LLC office. Purpose: Any lawful activity. 12469. Purpose: Any Lawful Purpose. shall mail process to: Ganfer & whom process may be served. SSNY Notice of Formation of LUCINDA 44TH, Shore, LLP, 360 Lexington Ave., New shall mail process to: c/o Josh Cook, Notice of Formation of Consulate LLC. Arts. of Org. filed with Secy. of GI Health and Medical, PLLC, Articles York, NY 10017. Duration: perpetual. 70-64 Yellowstone Blvd, Apt. 1A, Hotel Holdings I, LLC, Art. of Org. State of NY (SSNY) on 07/30/14. Office of Organization filed with Secretary of Purpose: Any lawful activity. Forest Hills, NY 11375. Purpose: all filed Sec'y of State (SSNY) 2/20/14. location: NY County. Princ. office of State of NY (SSNY) on 05/20/14. Office Notice of Formation of ELOD STUDIO, lawful activities. Office location: NY County. SSNY LLC: 1430 Broadway, 17th Fl., NY, NY Location: NY County. SSNY designated designated as agent of LLC upon 10018. SSNY designated as agent of as agent of LLC upon whom process LLC. Arts. of Org. filed with Secy. of NOTICE OF FORMATION OF LIMITED whom process against it may be LLC upon whom process against it may against it may be served. SSNY State of NY (SSNY) on 07/17/14. LIABILITY COMPANY. NAME: STAM served. SSNY shall mail copy of be served. SSNY shall mail process shall mail a copy of process to: The Office location: NY County. SSNY LLC. Articles of Organization were process to c/o Hampshire Hotels to the LLC at the addr. of its princ. PLLC 139 Centre St., Ste. 609, New designated as agent of LLC upon filed with the Secretary of State of Mgmt., 200 W. 55th St., Ste. 42, NY, NY office. Purpose: Any lawful activity. York, NY 10013. Purpose: to engage whom process against it may be New York (SSNY) on 06/03/14. Office 10019. Purpose: any lawful activities. in the profession of Medicine. served. SSNY shall mail process to location: New York County. SSNY Notice of Registration of Siri & Corporation Service Co., 80 State St., has been designated as agent of the Notice of Formation of OLGANGELINA Glimstad LLP, Cert. of Reg. filed Sec'y NOTICE OF FORMATION OF LIMITED Albany, NY 12207, regd. agent upon LLC upon whom process against it LLC. Arts. of Org. filed with Secy. of of State (SSNY) 5/1/14. Office loca- LIABILITY COMPANY. NAME: whom and at which process may be may be served. SSNY shall mail a State of NY (SSNY) on 07/14/14. tion: NY County. SSNY designated OSPREY WESTSIDE NY LLC. served. Purpose: Any lawful activity. copy of process to the LLC, c/o Dov Office location: NY County. SSNY as agent of LLP upon whom process Articles of Organization were filed with designated as agent of LLC upon the Secretary of State of New York FREMONT BLUE EVENTS LLC, a Tabak, 375 Park Avenue, Suite 1604, against it may be served. SSNY shall domestic LLC, filed with the SSNY on New York, New York 10152. Purpose: whom process against it may be mail copy of process to 120 E. 31st (SSNY) on 05/23/14. Office location: served. SSNY shall mail process to New York County. SSNY has been 5/1/14. Office location: New York For any lawful purpose. St., NY, NY 10016. Name/addr. of each County. SSNY is designated as agent c/o Donald David, Akerman LLP, 666 gen. ptr. avail. at SSNY. Purpose: to designated as agent of the LLC upon Notice of Formation of OPENING 1, upon whom process against the LLC Fifth Ave., 20th Fl., NY, NY 10103. practice the profession of Law. whom process against it may be LLC. Arts. of Org. filed with Secy. of Purpose: Any lawful activity. served. SSNY shall mail a copy of may be served. SSNY shall mail process State of NY (SSNY) on 05/16/14. Sason Builders LLC. Arts. of Org. filed to The LLC, 20 W. 22nd St., #807, Notice of Formation of Abigail Public process to the LLC, c/o City Skyline Office location: NY County. SSNY with Secy. of State of NY (SSNY) on NY, NY 10010. General Purpose. Relations, LLC, Art. of Org. filed Sec'y Realty Inc., 507 West 139th Street, designated as agent of LLC upon 06/06/14. Off. loc.: NY Co. SSNY des. of State (SSNY) 3/10/14. Office loca- Suite A, New York, New York 10031. Deer Equities, LLC. Arts. of Org. filed whom process against it may be as agent of LLC upon whom process tion: NY County. SSNY designated Purpose: For any lawful purpose. with Secy. of State of NY (SSNY) on served. SSNY shall mail process to may be served. SSNY shall mail as agent of LLC upon whom process 07/17/14. Off. loc.: NY Co. SSNY c/o Schiff Hardin LLP, Attn: Robert S. process to c/o Magna Group, Attn: Beechwood Developers LLC. Arts. of against it may be served. SSNY shall des. as agent of LLC upon whom Appel, 666 Fifth Ave., 17th Fl., NY, NY Joshua Sason, 5 Hanover Sq., New Org. filed with Secy. of State of NY mail copy of process to 11 Charlton process may be served. SSNY shall 10103. Purpose: Any lawful activity. York, NY 10004. Purpose: General. (SSNY) on 06/16/14. Off. loc.: NY St., Apt. 3A, NY, NY 10014. Purpose: Co. SSNY designated as agent of mail process to the LLC, 450 Notice of Formation of Sagamore any lawful activities. NOTICE OF LLP FORMATION, Cert. LLC upon whom process may be Seventh Ave., Ste. 1100, New York, Crescent, LLC, Art. of Org. filed Sec'y of Registration filed July 10, 2014, Name: served. SSNY shall mail process to NY 10123. Purpose: General. of State (SSNY) 6/2/14. Office loca- Notice of Formation of Yellow Ocean, LLC. Arts. of Org. filed with Secy. of Sirotkin & Varacalli, LLP, Principle 248 W 35th St., 14th Fl., New York, LUNGTA ONE, LLC, a domestic LLC, tion: NY County. SSNY designated Office: 164 E 88th St., #3FE, New York, NY 10001. Purpose: General. filed with the SSNY on 3/27/14. as agent of LLC upon whom process State of NY (SSNY) on 9/15/08. Office location: NY County. SSNY designated NY 10128, Profession to be practiced: Office location: New York County. against it may be served. SSNY shall Attorneys, Process may be served on Notice of Formation of EMERGENCY SSNY is designated as agent upon mail copy of process to Philip Brody, as agent of LLC upon whom process TIARA LLC. Arts. of Org. filed with against it may be served. SSNY shall Sec. of State of N.Y. as agent." whom process against the LLC may 5 Fifth Ave., 15th Fl., NY, NY 10003. Secy. of State of NY (SSNY) on be served. SSNY shall mail process mail process to: The LLC, 183 313 West 71 Realty LLC. Arts. of Org. Purpose: any lawful activities. 06/12/14. Office location: NY County. to The LLC, 130 Jane St., Ste. 5G, Madison Ave., Ste. 1601, NY, NY filed with Secy. of State of NY (SSNY) SSNY designated as agent of LLC NY, NY 10014. General Purposes. Notice of Formation of NEBULOUS 10016. Purpose: any lawful activity. on 07/24/14. Off. loc.: NY Co. SSNY upon whom process against it may be WHITE LLC. Arts. of Org. filed with Metal Dog Consulting NY, LLC. Arts. des. as agent of LLC upon whom served. SSNY shall mail process to c/o MONICA LOPEZ ARCHITECT, LLC, a SSNY on 5/8/14. Office location: process may be served. SSNY shall Franklin, Weinrib, Rudell & Vassallo, Prof LLC. Arts. of Org. filed with the New York County. SSNY designated of Org. filed with Secy. of State of NY (SSNY) on 06/02/14. Off. loc.: NY Co. mail process to 313 West 71st St., New P.C., 488 Madison Ave., 18th Fl., NY, SSNY on 07/25/2014. Office loc: NY as agent upon whom process York, NY 10023. Purpose: General. NY 10022. Purpose: Any lawful activity. County. SSNY has been designated as against it may be served. SSNY shall SSNY des. as agent of LLC upon whom process may be served. SSNY agent upon whom process against it mail process to: c/o THE LLC, 19 138-34 Equities LLC Arts of Org filed Notice of Formation of 928 MYRTLE shall mail process to 330 E 63rd St., may be served. SSNY shall mail process Jones St. #5, NY, NY 10014. with NY Sec of State (SSNY) on AVE HRN LLC. Arts. of Org. filed with #4M, New York, NY 10065. Purpose: to: C/O the PLLC, 42 West 39th St., Purpose: all lawful activities. 4/28/14. Office: New York County. Secy. of State of NY (SSNY) on General. 15th Fl, NY, NY 10018. Profession to SSNY designated as agent of LLC 6/4/14. Office location: NY County. be practiced: Architecture. Notice of Formation of Bury LLC. Arts. Notice of Formation of RiaBulga, LLC, upon whom process may be served. SSNY designated as agent of LLC of Org. filed with Secy. of State of NY Art. of Org. filed Sec'y of State (SSNY) SSNY shall mail process to: 28 upon whom process against it may be Notice of Formation of CS 225 (SSNY) on 05/29/14. Office location: 4/14/14. Office location: NY County. Graham St, Alpine, NJ 07620. served. SSNY shall mail process to: Pennsylvania LLC. Arts. of Org. filed NY County. SSNY designated as SSNY designated as agent of LLC General Purposes. c/o Hector R. Nova, 2861 Frederick with Secy. of State of NY (SSNY) on agent of LLC upon whom process upon whom process against it may be Douglass Blvd., NY, NY 10039. 7/22/14. Office location: NY County. 94 Realty LLC. Arts. of Org. filed with against it may be served. SSNY shall served. SSNY shall mail copy of Purpose: any lawful activity. SSNY designated as agent of LLC Secy. of State of NY (SSNY) on mail process to: 515 East 5th St., Apt. process to 3 Sheridan Sq., 9J, NY, NY upon whom process against it may 09/17/97. Off. loc.: NY Co. SSNY des. Notice of Formation of CPH Partners 6D, NY, NY 10009. Purpose: any 10014. Purpose: any lawful activities. be served. SSNY shall mail process lawful activities. as agent of LLC upon whom process LLC. Arts. of Org. filed with Secy. of to: c/o The LLC, 1350 Broadway, LAAH ACQUISITIONS LLC, Arts. of may be served. SSNY shall mail process State of NY (SSNY) on 7/11/14. Office Ste. 1010, NY, NY 10018. Purpose: Notice of Qualification of Fitness Org. filed with the SSNY on 07/10/2014. to the LLC, 9 Park Pl., #1E, Great location: NY County. SSNY designated any lawful activity. Video Ventures, LLC. Authority filed Office loc: NY County. SSNY has Neck, NY 11021. Purpose: General. as agent of LLC upon whom process with NY Dept. of State on 6/11/14. been designated as agent upon against it may be served. SSNY shall Notice of Qualification of THOR 164 Office location: NY County. Princ. bus. whom process against the LLC may Notice of Qualification of ARHC mail process to: 369 , 5TH AVE LLC. App. for Auth. filed addr.: 100 Universal City Plz., be served. SSNY shall mail process NCWTNNY01, LLC. Authority filed 28th Fl., NY, NY 10017. Purpose: any with Secy. of State of NY (SSNY) on Universal City, CA 91608. LLC formed to: 66 Pearl St., NY, NY 10004. with Secy. of State of NY (SSNY) on lawful activity. 7/15/13. Office location: NY County. in DE on 6/4/14. NY Sec. of State Purpose: Any Lawful Purpose. 06/23/14. Office location: NY County. LLC formed in Delaware (DE) on designated agent of LLC upon whom LLC formed in Delaware (DE) on NOTICE OF FORMATION OF 7/11/13. SSNY designated as agent process against it may be served Notice of Formation of Pyramid 06/17/14. SSNY designated as agent OBJECT-IFY 139 LLC. Arts of Org of LLC upon whom process against it and shall mail process to: c/o CT Investors JV LLC, Art. of Org. filed of LLC upon whom process against it filed with Secy of State of NY (SSNY) may be served. SSNY shall mail Corporation System, 111 8th Ave., NY, Sec'y of State (SSNY) 10/18/13. may be served. SSNY shall mail 5/01/14. Office location: NY Co. SSNY process to: c/o Thor Equities, LLC, NY 10011, regd. agent upon whom Office location: NY County. SSNY process to c/o CSC, 80 State St., designated agent upon whom process 25 W. 39th St., NY, NY 10018. DE process may be served. DE addr. of designated as agent of LLC upon Albany, NY 12207. DE addr. of LLC: may be served and shall mail copy of address of LLC: c/o National Registered LLC: c/o The Corporation Trust Co., whom process against it may be 2711 Centerville Rd., Ste. 400, process against LLC to: Maria Agents, Inc., 160 Greentree Drive, 1209 Orange St., Wilmington, DE served. SSNY shall mail copy of Wilmington, DE 19808. Arts. of Org. Candanoza, 139 Essex St, NY NY Ste. 101, Dover, DE 19904. Arts. of 19801. Cert. of Form. filed with DE Sec. process to Kriss & Feuerstein, 360 filed with DE Secy. of State, Div. of 10002. Principal business address: Org. filed with DE Secy. of State, 401 of State, 401 Federal St., Dover, DE Lexington Ave., NY, NY 10017. Corps., 401 Federal St., Ste. 4, Dover, 139 Essex St, NY, NY 10002. Federal St., Ste. 4, Dover, DE 19901. 19901. Purpose: all lawful purposes. Purpose: any lawful activities. DE 19901. Purpose: Any lawful activity. Purpose: any lawful act. Purpose: any lawful activity.

24 | Crain’s New York Business | August 18, 2014 20140818-NEWS--0025-NAT-CCI-CN_-- 8/15/2014 5:25 PM Page 1

2014 STATS AND THE CITY

Fine change for small biz The two other biggest staffing into his first term,and by 2010,79% boosts went to the Department of of his top 80 managers were white Small businesses have long sought relief from De Blasio Health and Mental Hygiene (234) and 64% were male, according to a fines. The city forecasts a 39% drop in Depart- for pre-K and the Department of New York Times count. ment of Health and Department of Consumer Continued from Page 1 Correction (225) for mental-health Unlike his predecessor, Mr. de Affairs fines in fiscal 2015 compared with 2012. than Mr. Bloomberg’s final spend- and antiviolence services in city Blasio likes to dole out favors: He Small-business fines (in millions) ing plan—and added 1,062 em- jails—a goal given new urgency by bolstered council programs with ployees, for a total of 302,726, and reports of abuse of juvenile offend- $15 million for new initiatives, $51 $60 DCA DOH though a 0.35% increase sounds ers at Rikers Island. million for existing ones like child- 50 $30.0* small, it reverses a downward trend Mr. de Blasio embraced the new care vouchers and senior centers, 40 that stretched back to 2008. paid-sick-leave law with much fan- and $36 million for enhancements. Mr. de Blasio’s spending in fare, but the Department of Con- 30 $10.5* choice areas is made possible by sumer Affairs’ enforcement capaci- Speaking of Brooklyn 20 higher-than-projected tax revenue ty has grown by just 13 employees. As for the mayor’s rhetoric: A 10 and a balanced budget bequeathed Meanwhile, the Department of Crain’s tabulation of transcripts re- 2011 2012 2013 2014 2015 by Mr. Bloomberg—something no City Planning, which will facilitate leased by his office—including *Projected Source: NYC Office of Management and Budget incoming mayor has ever received. developments to help reach Mr. de comments at press conferences and But media coverage of his first Blasio’s goal of 80,000 new afford- speeches—reveals a distinct outer- budget was mostly overshadowed by able-housing units over 10 years,re- borough focus.He has given Brook- Most-policed cities the $5.5 billion he agreed to pay ceived 31 new employees to acceler- lyn (his home turf ) 172 shout-outs, United Federation of Teachers ate the process. while Queens has received 87; the The mayor rejected calls to add 1,000 police offi- members in retroactive raises over Two other notable hires at City Bronx, 50; and Staten Island, 41. cers, saying crime is at historic lows. Also, New the next three years.(He guaranteed Manhattan had just 47, a mere York is one of the nation’s most protected cities. Hall: Chiara and Dante de Blasio, the union would deliver $1.3 billion who started monthlong unpaid 12% of the total. Officers per 10,000 people in health care savings to partially off- government internships in August. Despite its prominence in Mr.de Washington, D.C. 61.2 set the hikes.) The raises, retroactive Mayor Dad apparently wanted to Blasio’s campaign, “stop-and-frisk” to 2009, amount to 19.5% over nine keep the kids close this summer. has been uttered only 23 times since Baltimore 47.4 years when compounded. Salaries January. “Affordable housing” has Chicago 44.1 for rookie teachers will jump to An increase in seen 188 mentions; “children,” 445; Philadelphia 42.4 $54,411 by 2018, up from $45,530, and “pre-K” was plugged 528 times. according to the UFT.Other city la- Though Mr. Bloomberg com- New York City 41.7 bor contracts are being crafted along city head count pleted three terms, he has received 10 largest cities 25.8* similar parameters. reverses a trend just two more mentions in his suc- *Average. Figures are for 2012. Source: Citizens Budget Commission The fiscal impact of that deci- cessor’s public comments than the sion will be compounded by the 35 enjoyed by Mr.de Blasio’s former mayor’s intention to hire more dating to 2008 boss David Dinkins, who was mayor teachers. No agency got more new from 1990 through 1993.Rudy Giu- No tax hike? Look again workers this year than the Depart- liani (1994-2001) and Ed Koch The city expects more than $700 million in addi- ment of Education: 377, mainly in (1978-1989) have been cited just two tional cash this fiscal year and $3.75 billion over special education. Mr. de Blasio’s and five times,respectively,while Mr. four years from its top revenue source, property four-year financial plan would swell Not all agencies are growing. de Blasio’s model mayor, Fiorello La tax. The projected 4.34% average annual increase the department’s ranks by 3,886, to Most are projected to shrink slight- Guardia, has been named on 28 oc- is greater than that of any other tax the city col- 113,876, according to the Citizens ly or tread water, as full-time civil- casions (excluding references to the lects, the Citizens Budget Commission reported. Budget Commission. ian head count is slated to decrease airport and the community college). City tax revenues (in millions) to 99,800 in 2018 from 101,356 in Despite being labeled a liberal by Adding staff to reach ‘Zero’ 2014. Uniformed employees will the media, Mr. de Blasio does not FY 2014 FY 2015* % change The staff additions reflect Mr.de grow marginally, to 61,777 from use the word, um, liberally. He has Property $19,999 $20,779 +3.9% Blasio’s priorities. The Police De- 61,390. uttered it only thrice—as many as GOVERNMENT Personal income $9,495 $9,191 -3.2% partment gained 270 officers, and Mr. de Blasio, who said his ad- he’s said “conservative”—and two of Sales $6,460 $6,666 +3.2% the Department of Transportation, ministration would look like the them were in a quote from his fa- 143. Chalk it up to “Vision Zero,” populace, has reshaped City Hall vorite president, Franklin D. Roo- Business $5,907 $5,959 +0.9% Mr. de Blasio’s stated goal to elimi- accordingly. Of his top 75 appoint- sevelt. With the right wing having Commercial rent $697 $715 +2.6% nate traffic deaths in the city. ments—deputy mayors, commis- made the word a pejorative, Mr. de Real estate transfer $2,488 $2,226 -10.5% (During budget negotiations, sioners, directors and committee Blasio has embraced its substitute, Utility $393 $415 +5.6% the City Council pushed the mayor chairs—52% are female and 47% “progressive,” uttering it some 115 to add 1,000 more cops to the pay- are nonwhite, a Crain’s analysis times. And counting. Ⅲ Other $2,853 $2,666 -6.6% roll, but Mr. de Blasio resisted, in- shows. Mr. Bloomberg’s adminis- Total $48,293 $48,618 +0.7% stead moving 200 officers from desk tration was one-third female and LISTEN to a discussion at CrainsNewYork.com/podcasts *Projected Source: Citizens Budget Commission and NYC Budget jobs to public-housing beats.) one-third nonwhite four months

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Formation of Kimberly Name of LLC: Optimal Health and Notice of Formation of LAND-SEE, Notice of Formation of BUTTERMILK NOTICE OF FORMATION OF 488 License Holdings LLC. Arts of Org. Wellness LLC. Arts. of Org. filed with LLC. Arts. of Org. filed with Secy. of WAREHOUSE, LLC. Arts. of Org. Hospitality Group, LLC. Arts of Org filed with Secy of State of NY (SSNY) NY Dept. of State: 8/5/14. Office loc.: State of NY (SSNY) on 03/20/14. filed with Secy. of State of NY filed with Secy of State of NY (SSNY) on 06/02/2014. Office location: New NY Co. Sec. of State designated Office location: NY County. SSNY (SSNY) on 08/07/14. Office location: on 02/10/14. Office location: NY York County. Princ. office of LLC: 145 agent of LLC upon whom process designated as agent of LLC upon whom NY County. SSNY designated as County. SSNY designated as agent East 50th Street, New York, NY 10022. against it may be served and shall process against it may be served. SSNY agent of LLC upon whom process upon whom process may be served SSNY designated as agent of LLC mail process to: Business Filings shall mail process to Corporation against it may be served. SSNY shall and shall mail copy of process upon whom process against it may Inc., 187 Wolf Rd., Ste. 101, Albany, Service Co., 80 State St., Albany, NY mail process to Tarter Krinsky & against LLC to: 95 Delancey Street, be served. SSNY shall mail process NY 12205, regd. agt. upon whom 12207, regd. agent upon whom and Drogin LLP, Attn: Steven Troup, Esq., New York, NY 10002. Principal busi- to the LLC at the addr. of its princ. process may be served. Purpose: at which process may be served. 1350 Broadway, 11th Fl., NY, NY ness address: 790 Eighth Avenue, NY, Office. Purpose: Any lawful activity. any lawful act. Purpose: Any lawful activity. 10018. Purpose: Any lawful activity. NY 10019. Purpose: any lawful act. Notice of Formation of FOX Notice of Qual. of Furnex, LLC, Auth. Notice of Qual. of Scopia Windmill Notice of Formation of DAS INTER- Notice of Formation of EINHORN GROOMING LLC. Arts. of Org. filed filed Sec'y of State (SSNY) 6/4/14. SPV 3 LLC, Auth. filed Sec'y of State NATIONAL CAPITAL, LLC. Arts. of DEVELOPMENT GROUP LLC. Arts. with Secy. of State of NY (SSNY) on Office loc.: NY County. LLC org. in DE (SSNY) 2/3/14. Office loc.: NY County. Org. filed with Secy. of State of NY of Org. filed with Secy. of State of NY 05/29/14. Office location: NY County. 4/2/14. SSNY desig. as agent of LLC LLC org. in DE 1/30/14. SSNY desig. (SSNY) on 06/30/14. Office location: (SSNY) on 06/06/14. Office location: Princ. office of LLC: 250 Park Ave., 6th upon whom process against it may be as agent of LLC upon whom process NY County. Princ. office of LLC: One NY County. SSNY designated as Fl., NY, NY 10177. SSNY designated served. SSNY shall mail copy of proc. against it may be served. SSNY shall Battery Park Plaza, NY, NY 10004. agent of LLC upon whom process as agent of LLC upon whom process to 637 Valley Rd., New Canaan, CT mail copy of proc. to Att: Aaron Morse, SSNY designated as agent of LLC against it may be served. SSNY shall against it may be served. SSNY shall 06840. DE off. addr.: Harvard Bus. 152 W. 57th St., NY, NY 10019. DE upon whom process against it may mail process to Corporation Service mail process to c/o Ingram Yuzek Services, 16192 Coastal Hwy., Lewes, off. addr.: CSC, 2711 Centerville Rd., be served. SSNY shall mail process Co., 80 State St., Albany, NY 12207- Gainen Carroll & Bertolotti LLP at the DE 19958. Cert. of Form. on file: Wilmington, DE 19808. Cert. of Form. to Seward & Kissel LLP, Attn: Kalyan 2543, regd. agent upon whom and at princ. office of the LLC. Purpose: SSDE, Townsend Bldg., Dover, DE on file: SSDE, Townsend Bldg., Dover, Das at the princ. office of the LLC. which process may be served. Any lawful activity. 19901. Purp.: any lawful activities. DE 19901. Purp.: any lawful activities. Purpose: Any lawful activity. Purpose: Any lawful activity.

August 18, 2014 | Crain’s New York Business | 25 20140818-NEWS--0026-NAT-CCI-CN_-- 8/15/2014 5:42 PM Page 1

talized only once, said Dr. Patel- I’m planning for them,” she said. Pannullo. He even went on his first Tom Marino, vice president of Hospitals learn hospitality vacation in a decade, to Florida, and operations at AdvantageCare,added returned with gifts for the staff. it now has “skunk-free zones.” “And Continued from Page 3 HQ has found a lucrative niche a three-hour session to $3,250 for a “Teamwork is at the heart of I’m going to call you out on it if you Patel-Pannullo. in the four years it has existed. three-day program. everything we teach,”said HQ’s Ms. are skunking,” he said. The new focus on customer serv- About 70% of its revenue is now de- “It is a huge financial commit- Salgado. Changing the corporate culture at ice is a response to the Affordable rived from health care companies. ment, but it’s that important to us,” Certain buzzwords are used in AdvantageCare,he believes,will give Care Act, which gives consumers “It is a very profitable business,” said Eileen Garland, the medical HQ workshops,many of which orig- the medical group an edge against greater access to health care and said Susan Salgado, managing part- inated from Mr. Meyer’s 2006 book, new competition, including the spawned more competition among ner of HQ. Setting the Table: The Transforming growing number of urgent care facil- insurance companies, hospitals and Challenging Power of Hospitality in Business. ities that are popular with consumers medical practices like Advantage- Customized workshops There are “51 percenters,” who go because of their convenient hours. Care. One provision of the reform She declined to disclose the com- an outdated above what is expected of them; the “They are popping up on every law is that patient-satisfaction sur- pany’s revenue but said it had dou- “charitable assumption,”or assuming corner, and many of them are clean, veys now have teeth, determining bled each year since it launched in corporate the best in people; and “skunking,” fast and have friendly workers,” Mr. the size of providers’ Medicare re- 2010. EmblemHealth is a client, as which describes people who com- Marino said.“That’s what we are up imbursement. is the North Shore-LIJ Health Sys- medical culture plain and ruin employee morale. against.” This all means big business for tem. In June, the huge hospital or- Dr. Patel-Pannullo said she has As AdvantageCare adds new Mr. Meyer, who held a cocktail par- ganization responded to the growing learned to trust her staff more to employees, said Ms. Garland, its ty in June at his Manhattan restau- pressure to provide exceptional cus- avoid “micromanaging” them. The human-resource managers now rant the Modern,where he gathered tomer service by hiring its first chief HQ training also changed her per- look for “someone who has a warm a group of 42 HQ clients and poten- experience officer—a former senior practice’s vice president of project ception of her patients. personality,” and with a nod to Mr. tial customers in finance, health executive with Ritz-Carlton hotels. management. “This will be the cor- “I’m using the ‘charitable assump- Meyer, people who have “hospitali- care, restaurants and other indus- AdvantageCare has signed up for nerstone of our success.” tion’ function every day, reminding ty in their DNA.” Ⅲ tries to network. “You are here,” he 100 customized workshops this year Indeed,since the Queens patient myself to think twice before sticking said at the time, “because we want alone. HQ also offers public classes, began weekly visits with the Advan- to protocols and procedures, and to LISTEN to a discussion at more of your business.” which cost from $325 per person for tageCare nurse, he has been hospi- let my patients have a say in what it is CrainsNewYork.com/podcasts

FORWARD TO THE PAST Energy crackdown Modern office spires lag not just state-of-the-art homes in energy efficiency, but medieval buildings, too. Insulation effectiveness rating/Period Continued from Page 3 structed according to the approved degree of noncompliance uncovered plans. In one out of five cases, in- thus far shows just how crucial the spectors found problems. new audit unit will be. “We are trying to bring both the “No one knew what was going on design and construction sides up to before because no one was check- speed,” Ms. Bocra said, noting that ing,” said Russell Unger, executive the campaign is largely educational at director of the Urban Green Coun- this point because many firms were cil. “It is very easy to proclaim some not consciously breaking the rules.

policy or write some law, but the But make no mistake: Flouting istockphoto hard work comes on the other side the energy code now carries serious 1 2-3 3-4 22 when you need someone to imple- risks for developers. The depart- Stone Age cave Modern glass-box tower Medieval dwelling Current state-of-the-art home ment it.” ment is drawing up new fines and Source: U.S. Green Building Council regulations that will apply specifi- Here come the auditors cally to the code. deadline. In 2009, Albany received volunteered to go through the industry too far from the cutting With a new phalanx of auditors In a handful of cases,building in- more than $123 million from the DOB’s gantlet a second or third edge. at the city’s disposal, Mr. Unger and spectors have issued stop-work or- federal government in exchange for time to prevent their plans from be- As an example, he cited a report others expect that designers and ar- ders at construction sites. And in at ensuring that 90% of new building ing held up in the future. from the council published earlier chitects will pay more attention to least one instance, a random tip plans complied with the baseline “It’s better for them from a liabil- this year that showed many typical the code because violations can hold called into the department resulted federal energy code by 2017. The ity perspective,” Ms. Bocra said. building walls in New York City are up an entire project. in a developer being investigated city is part of that effort, and is tak- “We had applicants send thank-you just a few steps up from medieval That scrutiny even extends to and fined for building a structure ing steps now in the hopes that the letters.” homes in terms of their ability to re- construction sites, with the unit that was not up to sustainability DOB will be operating at full steam Mr. Russell’s Urban Green tain heat. conducting more than 160 random standards, even though the proper- by the time that deadline arrives. Council believes the stricter regula- “One would need to go back visits this year—compared with ty had already been occupied. Already, the crackdown shows tions—and the actual enforcement about 1,000 years to find buildings zero under the pilot program—to The new push comes as the state signs of making that task easier.Sev- of them—are sorely needed to solve that regularly used as little insula- make sure buildings were being con- races to meet a looming federal eral engineering firms have already issues that keep the city’s real estate tion as these do today,” he said. Ⅲ

CIT’S JOHN THAIN struck Better times seen for banking a $3.4 billion deal to acquire California-based OneWest bank. Continued from Page 4 for about $400 million. ISI’s 226 dark days of 2009. Last month, the bitious deal after nixing some other employees include some of Wall 75-employee shop invested in an as- potential bank mergers. At issue is Street’s best-known analysts, whose set management firm with $1 billion whether the government will allow reputations could help Evercore win in client accounts. MVL Managing CIT to inherit certain loan loss- assignments to take companies pub- Director Bryan Turley said he’s sharing agreements that OneWest lic—a business that’s nearly as lucra- looking for research analysts and made after emerging from the re- tive as offering merger advice to a merchant bankers who can spot op- mains of crisis-casualty IndyMac. If stable of clients that includes Astra- portunities in such sectors as health the answer is no, it would be back to Zeneca and Tribune Co. care, energy and financial services. the drawing board for CIT, which To longtime Wall Street watch- craves OneWest for its base of con- Growth on the mind ers like Mr.Hintz,it’s welcome to see sumer deposits—a source of funding “We are very excited because of the next generation of firms start to that’s unlikely to vanish in a crisis. the way [the merger] propels Ever- assert themselves. Some will surely “Regulators should approve this core in the second of the two great grow into giants themselves one day. deal because combining the banks businesses in investment banking,” “Some will become the next makes the financial system a bit said Evercore Chairman Roger Alt- Goldman Sachs or Morgan Stan- safer,”said Drexel Hamilton analyst man during a conference call an- ley,” said Mr. Hintz, who then re- David Hilder. nouncing the deal.“These two busi- ferred to some historic firms that The growing ambitions of Ever- nesses … are the pillars on which we weren’t quite so successful. “We’ll core Partners, a 19-year-old bou- are going to build.” also find out which are the next tique deal-making firm with 1,000 Another enterprise with growth Kuhn Loeb or White Weld. And employees, also became clear earlier on its mind is MVL & Co., an in- some will go the way of Drexel

this month when it agreed to buy ISI vestment bank created during the Burnham Lambert.” Ⅲ bloomberg news

26 | Crain’s New York Business | August 18, 2014 20140818-NEWS--0027-NAT-CCI-CN_-- 8/15/2014 6:06 PM Page 1

AN ANGRY TWITTERVERSE REACTS TO SKETCHFACTOR ton may soon find out whether these problems Backlash hits app will sink SketchFactor, which in addition to Continued from Page 1 fic service where users point out ac- users’ experiences pulls “Any rational person that spends cidents, potholes, police speed traps publicly available data their time thinking about what oth- and other potential hazards along about crime and other er people think and feel could have the route—and which was bought quality-of-life meas- seen this coming,” said Rick Webb, by Google last year for $1.13 billion. ures. a former consultant at Tumblr and a And the duo had some quick suc- A statement from a current partner at Manhattan- cess. Their software this month was spokeswoman for the based Quotidian Ventures. “Taking selected as a finalist in the city- city’s Economic Devel- a little time to think about what oth- sponsored Big Apps competition. opment Corp., which er people think at the beginning is They even anticipated the potential sponsors the Big Apps not the worst idea.” for backlash, saying the day of the competition, indicates One of the ironies of launching launch that “we understand that that the public recep- an Internet company today is that it people will see this issue [of racial tion to SketchFactor can almost be too easy, allowing en- profiling].” may have hurt its trepreneurs to skip crucial steps that chances of winning the often serve to incubate an idea until Hardly alone contest. it’s ready for prime time. The controversy helped in one “This phase of selec- “Meet with a potential investor, way: Downloads after 24 hours tion was independent of or even another entrepreneur, and topped 7,000. But as soon as the the de Blasio adminis- get some feedback,” one Silicon Al- company launched,it was on the de- tration,” the spokes- ley venture capitalist suggested. fensive. woman said. “The final “However much you believe in your “There are a lot of things being judging panel includes idea and its applications, a feedback said about me out there,” Ms. administration officials loop is always superior to an echo McGuire said. “But those people who will ensure the chamber.” don’t know me,and they hadn’t even new phone to draw the OnePlus Twitterverse as “nerd misogyny.” winning apps comport with the may- SketchFactor founders Allison seen the app.” logo on their bodies, then take a Tech veterans say technologists or’s vision of combating inequality.” McGuire and Daniel Herrington The backlash against Sketch- photo and upload it so their image are often so focused on the minutiae The good news for techies is that are young and enthusiastic. Ms. Factor, with its provocative name could be voted on. Women took to of building their business that they that there are ways to pierce the bub- McGuire, a former congressional and desire to shine light on areas social media to complain. One took neglect to think about how the pub- ble and get a better view of the wider staffer and nonprofit veteran, came that could be described as “sketchy,” a photo of herself with the OnePlus lic might perceive their idea. world around them. They just need up with the idea, and Mr. Herring- is hardly unique. logo on the back of her hand, mid- to ask for help. ton, an engineer, provided the tech- Earlier this month, a mobile- dle finger extended. Advice for startups “In the early-stage VC commu- nical know-how. All funding came device startup called OnePlus Late last year, a team in St. Louis “If you asked someone to stand in nity, it is totally acceptable to call from friends and family. launched a “Ladies First”campaign, launched Invisible Girlfriend. The the middle of Columbus Circle in startups out on stuff like this, to In certain respects, the app re- which asked women who wanted to service creates an online profile for a front of thousands of people and yell point out that if they do what they’re sembles Waze, a GPS-guided traf- be the first to get their hands on a nonexistent girlfriend by generating out their idea, they would definitely doing, there’s a giant chance they emails, texts and photos, allowing start to rethink that idea, no matter could be misinterpreted and this users like closeted gay men, or those how much they believe in it,” said kind of blowback is going to hap- CORRECTIONS too busy to date, to prove to their Charlie O’Donnell, a partner at pen,” said Mr. Webb of Quotidian Dart Container Corp. has offered to pay for the first five years of a citywide foam-recycling program. This overcurious friends and families Brooklyn Bridge Ventures. “That Ventures. “That’s something every fact was misstated in “Foam war revisited” in the Aug. 4 Insider. that they have met a nice girl. moment doesn’t happen in most investor should be doing,and some- Dr. Goutham Narla is an assistant professor at Case Western Reserve University. His affiliation was Despite its potential appeal, In- startups, and it can be a problem.” thing that good investors already misstated in “Molecule to fight cancer” in the Aug. 4 Health Care Report. visible Girlfriend was labeled by the Ms. McGuire and Mr. Herring- do.” Ⅲ

UPCOMING SPECIAL FEATURES If you are looking to reach the New York business community, don’t miss these upcoming special sections from Crain’s Custom Connection Studio. September 8, 2014 September 29, 2014 October 27, 2014 Corporate Events Crain’s on the Market: Corporate Profiles Insights on the NY Real & Holiday Parties in Accounting For more information, please contact Close date: 8/21/14 Estate Market Close date: 10/9 Trish Henry at (212) 210-0711 or Close date: 9/11 [email protected]. September 22, 2014 October 06, 2014 Out of Office Wealth Management Close date: 9/04/14 Close date: 9/18

August 18, 2014 | Crain’s New York Business | 27 20140818-NEWS--0028-NAT-CCI-CN_-- 8/14/2014 5:43 PM Page 1

IN THE BOROUGHS MANHATTAN

white corn, red onion and cilantro. scientific evidence linking radio Prices range from $12 to $16. FROM waves to cancer in people living near Union Sq. eateries Ms.Goldstein said she wanted to AROUND cellphone towers,community board share her passion for a food she fell members and area residents are un- Continued from Page 3 has hired three additional staff in love with at home in Florida. “I THE CITY convinced. non, a consultant and author of The members and now offers delivery would crave ceviche every day,” she Verizon insists the new tower is Complete Idiot’s Guide to Starting a service. said.“It gave me so much energy and QUEENS needed under the terms of its Fed- Restaurant. “It gave them a clear The notion of focusing on one naturally fit all the health trends— eral Communications Commission identity and allowed them to do menu item also appealed to Miami low-fat, low-carb and high in pro- Verizon tries agreement. Currently, a gap in cov- what they did well.” natives Lindsay Goldstein and tein.” erage in the Laurelton area has led Jason Hairston, 35, aims to suc- Reina Laws, neither of whom had Ms. Goldstein hoped such a to mind the gap to unreliable cellphone service, ceed on both counts. The sole pro- ever owned a restaurant. Nonethe- recipe would attract health- Residents of Laurelton are not which Verizon is obligated to fix. prietor of the Nugget Spot had just less, when they conscious customers and offer a pleased with a plan by Verizon Wire- According to documents submitted one unique, not to mention unlike- decided to 8 quick and convenient alternative less to erect a 60-foot cellphone tow- by the company, the communica- ly, mission in mind for his enter- move to New TYPES OF food to grab to and from gym work- er in their neighborhood.At a Com- tions tower will not produce addi- prise: He wanted to elevate the low- York, they NUGGETS sold at outs. munity Board 13 Land Use meeting tional noise or vibration. Instead, ly chicken nugget to gourmet status. chose Union the Nugget Spot Indeed it has. Tara Parswani, a in June,more than 50 people showed the company noted, it will give resi- “Everyone loves nuggets, but Square as the 34-year-old yoga teacher and up to oppose granting Verizon a dent and motorists “vital access to there was so much room for im- place to launch $3 Greenwich Village resident, said zoning variance to put up the tower. emergency services.” provement,”said Mr.Hairston,who the city’s first PRICE of she’s addicted.“It’s the only place in The company subsequently request- The community board’s ap- worked as an executive sous chef at fast-food ce- signature the city to get good ceviche inexpen- ed that the zoning hearing be post- proval to erect the 12-antennae pole Bobby Flay’s Mesa Grill in the Ba- viche shop. beverage at sively,” she said. poned to “fully address community near the corner of 229th Street and hamas before opening his small, Three months Vivi Bubble Tea Not surprisingly,one of the most board concerns.” Merrick Boulevard is not required. whitewashed storefront at 230 E. later, the duo successful recent entrants to the Laurelton residents are con- A vote on the Verizon proposal is 14th St. nearly a year ago. are dishing out 9x5in. Union Square dining scene is one of cerned the tower will be ugly and planned for the board’s next meet- For openers, he makes his citrus-cured SIZE of basmati the most experienced—though not possibly injurious to their health. ing on Sept. 29. nuggets to order. His chicken, cat- raw seafood in rice bowls at in that part of town specifically.The Despite assurances that there is no —mark fahey fish and mozzarella concoctions bowls, burritos Desi Shack Halal Guys, who for years have come with a choice of several coat- and tacos in a drawn long lines to their food cart ings—including smooshed Cap’n small space that features a dozen curbside at West and the owners chose the location for its er members of the new, single-focus Crunch cereal and Cheez-It crack- stools, two tables and a hammock in , opened their first in- proximity to the Lower East Side set will do even half as well as ers—as well as a host of homemade a corner,for those who hang around. door spot at East 14th Street and club scene and several New York Vanessa Weng. She opened Vanes- dipping sauces. A serving of eight Diners at Cevich can choose Second Avenue in June. Now pa- University dorms.He noted that the sa’s Dumpling House at 220 E.14th nuggets with a side of fries or among shrimp, salmon or whitefish trons can sit down and savor $7 restaurant, like its two-wheeled St. more than a decade ago, and it’s coleslaw can be had for as little as and then add a variety of toppings. chicken and gyro platters. forebear, stays open until 4 a.m. to still going strong. There, diners can $10. According to Ms. Goldstein, most “Customers have long requested cater to the neighborhood crowd. feast on everything dumplings,from Mr.Hairston said sales are strong popular is the Wild Tiger, a Peru- we open a restaurant,” said General With a bit of luck, the Halal the chive and pork variety (five for and growing. Since he opened, he vian-style concoction with citrus, Manager Hesham Hegazy. He said Guys, the nugget man and the oth- $1) to dumpling soup for $3. Ⅲ

DID WE CREATE OUR LOBSTER MAC ‘N’ CHEESE FOR CHEESE CONNOISSEURS OR LOBSTER LOVERS? YES.

Whether it’s the generous portion of fresh Maine lobster or the unique blending of four world-class cheeses that draws you to this ever-so-slightly decadent offering, you won’t regret your decision to indulge in a bite or two. Or three. Made fresh when ordered. When will you be ordering yours?

We’ll never reveal the exact recipe. But you’re encouraged to guess. Time-Life Building · 120 W · 212.246.0154 Chrysler Center · 155 East 42nd Street · 212.953.2000 Wall Street · 120 Broadway · 212.374.1811 thecapitalgrille.com

28 | Crain’s New York Business | August 18, 2014 20140818-NEWS--0029,0030-NAT-CCI-CN_-- 8/14/2014 5:45 PM Page 1

HELLUVA TOWN INSIDE Source Lunch Tapping into Solving NY state’s doctor NY water shortage PAGE 30

Getting New Yorkers to switch Out and About from bottled to local tap water is Sid Make a racquet at the Lerner’s latest cause.The ad man turned health advocate, who helped U.S. Open PAGE 31 develop the “Please don’t squeeze the Charmin” ads, has a knack for grabbing the spotlight. A decade ago, he founded the Meatless Monday campaign, which is now in 40 countries. “We are going to reach out to some of our celebrity friends to flaunt the idea that people are wasting their money on bottled water,” said Mr. Lerner. Last year, he secured the PET THERAPIST John Larson of licensing rights from the state to Water4Dogs helps French bulldog create the I Love NY Water Connie with her recovery from campaign and then produced spinal-cord damage.

See Connie’s full workout at www.crainsnewyork .com/galleries

thousands of NY-branded water bottles, which are being sold in some 25 souvenir stores in the city. New York University, Columbia University and others also have signed on to the campaign, selling refillable bottles in their campus stores. Mr. Lerner now wants hotels to give the water bottles to guests as an alternative to the Evian or Dasani usually stocked in mini- fridges. —lisa fickenscher Fine dining meets fine art

The company behind society restaurant Le Cirque (pictured) will debut Le Cirque Brasserie, a casual dining spot featuring food from the south of France and Tuscany, at the New York Art, Antique & Jewelry Show at the Park Avenue Armory. The restaurant group will also set up Le Cirque Café & Bar and an Osteria de Circo Café Kiosk during the show, which runs from Sept. 18 to 21. Le Cirque Brasserie will open its first permanent outpost in Palm Beach, Fla., this winter but plans to eventually open a location Lapdogs of luxury in New York. The company behind the art exhibition, the Palm Beach Show Personal trainers, artisanal food. What New Yorkers will do Group, bought the event from Manhattan Media last year and for their pets. And the businesses doing it for them selected Le Cirque because it

wanted to make “the biggest splash” buck ennis possible for its entry into New York. Barbara Goodwin, director of the Manhattan event, said patrons will BY MIRIAM KREININ SOUCCAR see other changes, too.There will be about 75 exhibitors, a dozen or so more than last year. All the booths t least three days a week, Amy Lane walks a mile with her dog, Scout, to a WOOF! will be swathed in felt, and the floor specialized day-care facility, Running Paws, that puts its furry clients will be covered in the Palm Beach through a real workout. On Scout’s days at home, a professional runner Show Group’s signature white carpets. comes to take him for a jog. Once a week, the pooch spends an hour in the —theresa agovino park with his trainer/behaviorist/nutritionist. ¶ And that’s just the 54% beginning. Ms. Lane, a freelancer who finds talent for the advertising GROWTH IN PET-RELATED industry, keeps Scout on a diet that includes organic pumpkin and sweet EMPLOYMENT in the city, 2000-2012 potatoes she bakes especially for him. She shops at Dickson’s Farmstand Meats, a high-end butcher in Chelsea Market, to buy antibiotic-free bones cut to size for the 19- month-old Wheaten Terrier. ¶ Such indulgence doesn’t come cheap. In Scout’s first year, Ms. ALane spent roughly $20,000 on his care. ¶ “He’s definitely spoiled,” Ms. Lane said. “But I never had children, and this dog has been amazing for me.” ¶ Pampered pooches have long strolled the $200 COST OF AN IN-HOME streets of New York City, but in recent years they have been able to indulge in a growing number TRAINING SESSION by of health and lifestyle activities once reserved for their See PAMPERED on Page 30 School for the Dogs

August 18, 2014 | Crain’s New York Business | 29 20140818-NEWS--0030-NAT-CCI-CN_-- 8/15/2014 5:22 PM Page 1

SOURCE LUNCH: Pampered pooches JO WIEDERHORN by Irina Ivanova Continued from Page 29 among other tricks and general based training school,Empire of the humans: artisanal food, swimming training. Anna Jane Grossman Dog,opened in 2000.But in the past lessons, Frisbee training, even iPad started the business two years ago two years, business has doubled, selfies. Businesses have met them out of her apartment, and last forcing owner Denise Herman to at every turn, cashing in on owners’ month opened an 800-square-foot turn customers away. In addition to Triaging New York’s desires to give their apartment- storefront space. Private lessons puppy-training classes, Empire of dwelling dogs an active life. start at $120 at the school and cost the Dog offers a five-week urban The trend toward high-level $200 in a client’s home. Group les- agility class—where dogs use every- care is not unlike the helicopter- sons are $50 per class. The school day objects to work on their naviga- doctor shortage parenting phenomenon, with the works with about 60 dogs a week. tional skills—and a 90-minute sem- city’s legions of Type-A achievers Carolyn Quagliata, a veterinari- inar on Frisbee catching. Ms. putting the same energy and fi- an,started a house-visits-only prac- Herman is planning to start a tuto- o Wiederhorn, president and of Osteopathic Medicine is opening nances toward caring for their ca- tice four years ago.She now has 850 rial on skateboarding. chief executive of the Associ- up a new branch campus in Middle- nine companions. clients even though it costs $200 for “We have seen a growth in the ated Medical Schools of New town with 135 students a year. “There are more dogs in the city a home visit, roughly double the volume of dogs in the city, and it York, advocates for New York now and more people willing to do didn’t slow during the economic state’s 16 medical and five Minority students say one problem they more for their dogs,” said Scott downturn,” she said. Jdental schools. Medical aca- face is that they have few mentors. Smith, chief executive of Biscuits & ‘People want The American Veterinary demia contributes $85 billion Diversity at the top takes a while.And Bath, with nine locations in Man- Medical Association said that as of a year to the state economy, but it is more and more schools are looking to hattan that provide day care, board- to enhance the 2011, there were roughly 3.05 mil- also confronting a shortage of doc- diversify their faculty as well. But it’s ing, training and other pet services. lion dogs in households in the state, tors and a backlash against rising hard if you don’t have the people to “Just as people are eating more or- quality of life up from 2.6 million a decade earli- health costs. hire. ganic foods than, say, five years ago, er. It estimates that roughly 1.2 they are focused on enhancing the of their dog’ million of those dogs live in New What are your top priorities right now? One approach to increasing the pipeline quality of life of their dog.” York City. Biomedical research and the physi- of doctors is to shorten medical school. Mr. Smith’s 11-year-old Eng- Seth Chodosh, the owner of cian shortage,which is a very big one. How is that going? lish Labrador had a special diet Running Paws, a dog-jogging The whole country has a shortage. NYU has a three-year program, and designed by the highly regarded business and day care facility, be- We [in New York] train over 11% of [medical students’] fourth year is re- veterinary nutrition department at price of an office checkup.And Sta- lieves more New Yorkers are will- the [country’s] physicians. Students ally their first year of residency. The the University of California, Davis, cy Alldredge, owner of Who’s ing to get dogs because of the boom train here, but many don’t stay. High New York College of Osteopathic that consists of organic tilapia, Walking Who, and one of the city’s in services.“There are so many op- school, where your family is, is a very Medicine was just approved for a sweet potatoes and corn oil. most prominent dog nutritionists tions in the city now for dogs,” Mr. large predictor of where [a doctor three-year program. During the The growing breed of doting and behaviorists, said she and her Chodosh said. will] eventually end up. Second World War, the time to be- dog owner is spawning new busi- eight trainers see about 25 dogs a come a doctor shrank to nesses while feeding existing ones. day, including Scout. Her business Animal acupuncture So are there enough students WHERE three years, but then it in- According to the New York City is up 20% from two years ago. There is even a swimming facil- in high school now who can creased again. Economic Development Corp., Ms.Alldredge helped Dickson’s ity for pups. Water4Dogs, a thera- be funneled into medical pro- THEY pet-related industry employment Farmstand Meats develop its own peutic center in TriBeCa, offers in- grams in the state? DINED Why? in the five boroughs grew 54% from brand of frozen dog food, which dividual and group swimming We have programs at 10 ROCK CENTER I think there’s more and 2000 to 2012, to about 5,700 jobs. sells for $10 a quart and $6.50 a lessons. But the biggest part of its medical schools for kids in CAFÉ more to learn. Medicine Spending in the city exceeded $1.5 pint. Dickson’s sells about 120 business is water therapy and reha- ninth through 12th grade. 20 W. 50th St. grew, and what people (212) 332-7620 billion in 2010 and is now likely to quarts per week.“There’s a growing bilitation for dogs with medical We like to think, maybe if www.patinagroup were doing changed. And be much higher, experts say. awareness that dogs who stay home problems. The facility has one they don’t go to medical .com the same thing is happen- alone and sleep all day are de- swimming pool and two underwa- school, they’ll go into a ing now. Selfie tricks pressed,”Ms.Alldredge said.“Peo- ter treadmills where earlier this health care profession— AMBIENCE: Well heeled and Can anything be done to make At School for the Dogs in the ple are realizing that dogs really do month, Yota, a 14-year-old Chi- nursing or radiology test- touristy East Village, pups can learn how to have needs, and they are willing to huahua, was getting a workout. ing, whatever. We have a medical education cheaper? take selfies by clicking the screens of sacrifice other things for their dog.” The center is run by Jonathan number of resources aimed WHAT THEY ATE: Here, the big [program] is their owners’iPads with their noses, A Williamsburg, Brooklyn- Block, a rehabilitation veterinarian at college kids who are Ⅲ Chips and called Doctors Across who is also certified to perform preparing to go to medical guacamole New York, which provides (shared) acupuncture on animals. Up to 20 school. And we run four Ⅲ Salmon $150,000 in loan forgive- dogs visit the facility each day for postbaccalaureate pro- barbecue burger ness if you work in under- PET AMENITIES either a 30- or 60-minute session, grams. All of these are for with arugula; served areas.That’s a lot— which cost $95 and $165, respec- kids who are either under- black tea the average medical school NOT THAT LONG AGO, dogs weren’t Ⅲ Beef carpaccio welcome in Manhattan’s upscale tively. served educationally or salad; cappuccino debt is $175,000 to apartment buildings. Now the latest John Howells, an art director at economically. A lot of the $200,000. People think PRICE: perk in luxury living is doggy day care. the Broadway advertising firm Sit- time,the problem with get- $100.83, medical school is law school uation Interactive, takes his three- ting into medical school is including tip with labs.It’s a lot more,and The Spot Experience, a year-old French bulldog, Connie, that the kids have to work it’s a lot more expensive. Manhattan-based upscale day-care to Water4Dogs twice a week. while they’re in college,so their grades The cost of those labs is absolutely and dog-services business, is Connie damaged her spinal aren’t that good. enormous. And most schools lose opening a 9,000-square-foot facility cord in a fall last year and became money on their research enterprise.At this month in Silverstein Partners’ paralyzed. At Water4Dogs, she Does helping individuals get into medical most schools, the tuition pays for 5% new Silver Tower complex on West uses the treadmill, swims in the school increase the overall number of of what a medical education really 42nd Street. It’s the first of four pool and gets acupuncture and doctors that New York produces? costs. You have to pay faculty mem- similar sites coming to luxury laser therapy. She is now able to Yes and no.What it’s doing is increas- bers; you have to provide a lot of very apartment buildings in the next stand up and can hobble around on ing the number of underrepresented expensive equipment.It’s costly,and it few months, and the company has carpeting. minorities in medical school. There keeps going up. signed contracts for four more. Though pet insurance has cov- are a number of Institute of Medicine Mitch Marrow, a former hedge- ered most of the costs, the price tag reports that show that people prefer to Why is it important for a doctor who’s

funder and professional football the spot experience for Connie’s care has reached about go to physicians who look like them treating patients to also do research? player, started Spot a few years ago MITCH MARROW with dogs Hank (mastiff) $18,000 since she was injured. Mr. and have the same cultural back- Everybody wants to get the best care with $3 million of his own money, and Reggie (St. Bernard) Howells believes he could only find ground. And a lot of our schools are that they can get. And medicine is buying four dog facilities in Manhattan this type of care in New York. increasing the number of students. changing so quickly. You really need and revamping them completely. He now has 3,000 members who use “I feel like I have Connie in the Buffalo just built a new campus and is someone who has the skills ...to start his day care, walking, training and grooming services, and numerous Prada of physical-therapy places, increasing the number of students thinking about how they are going to others who board their dogs at Spot facilities. and there is nothing I would rather from 140 to 180. The Touro College change as medicine changes. Ⅲ Mr. Marrow, who used to have trouble finding apartments in the city that spend my money on,”he said.“New would take his two enormous dogs—a St. Bernard and a mastiff—says Yorkers treat dogs the way they treat amenities for such pets are becoming a necessity. every other aspect of their lives. WHO KNEW? Ms. Wiederhorn has lived or “So many high-end people own dogs,” he said. “Real estate developers They expect a certain quality—and worked in seven states, including a 10-year are starting to open their eyes to that.” —MIRIAM KREININ SOUCCAR many people here have the finan- cial capabilities to spend the mon- stint as a city bus driver in Minneapolis. ey on this kind of stuff.” Ⅲ

30 | Crain’s New York Business | August 18, 2014 20140818-NEWS--0031-NAT-CCI-CN_-- 8/14/2014 5:46 PM Page 1

OUT AND SNAPS Watermill Center raises $2.2M for arts programs ABOUT by Jessica Kramer

CULTURE FIX CAREER BUILDER TUESDAY, AUGUST 19, TUESDAY, AUGUST 19 THROUGH THURSDAY, AUGUST 21 Event technology website Send in the clowns. City Techsytalk presents Parks Foundation’s TECHSYTALK LIVE. The gathering SummerStage Kids and for event planners takes place Disney present the at Convene (32 Old Slip) from INTERNATIONAL 9 a.m. to 7 p.m.The conference CONTEMPORARY CIRCUS includes speakers from Uber FESTIVAL. The three days and SXSW, and sessions on of free family fun, as part social-media engagement, of Circus to Go! by the sponsors, marketing, gadgets, Big Apple Circus, include acrobats, jugglers, games and more, concluding neil rasmus/bfa clowns, magicians, dancers and strolling with an event-technology eugene gologursky/getty cmee images for performers (such as face painters, balloon artists showcase. For more AMY TARR and SAMANTHA YANKS at the Children’s Museum of the ROBERT JAIN, ROBERT WILSON and CAROLA JAIN at the Watermill and mimes).The festivities take place from 7 p.m. information and to purchase East End’s Sixth Annual Family Fair. The July 19 fundraiser took in Center’s 21st Annual Summer Benefit. The July 26 fundraiser generated a to 9:30 p.m. in Marcus Garvey Park’s tickets ($199), visit more than $200,000. record $2.2 million for the institution’s arts and education programs. amphitheater (West 122nd Street and Mount www.techsytalklive.com. Morris Park West). For more information, visit www.cityparksfoundation.org/summerstage. WEDNESDAY, AUGUST 27 The New York Public Library FRIDAY, AUGUST 22, hosts WHY DON’T I HAVE A JOB THROUGH SUNDAY, AUGUST 24 YET? at its Science, Industry It’s been three years since ARCADE FIRE’s third and Business Library, 188 , The Suburbs, won a Grammy for Album of Madison Ave., from 6 p.m. the Year (prompting a barrage of many hilarious until 7:30 p.m. The free “Who Is Arcade Fire?” tweets). Now they’re ready educational discussion includes to start a three-night stint at Barclays Center, 620 tips on how to improve your Atlantic Ave., Brooklyn.The Canadian indie-rock job search and how to home in darlings come out in support of last year’s more on what is best for your dance-focused Reflektor.The third night features a specific vision. For more performance by postpunk legends Television.To information, visit purchase tickets (ranging from $38.70 to $275) for www.nypl.org/events/programs/ the 7:30 p.m. shows, visit www.barclayscenter 2014/08/27/why-dont-i-have- .com/events/detail/arcade-fire. job-yet. jan goldstoff jan brian ach/getty life gala for art images for GAYLE KING, RUSSELL SIMMONS and TINA COOPER at Rush JUDITH HARRISON and AMANDA SEALES at New York Women in DON’T MISS TENNIS, EVERYONE? Philanthropic Arts Foundation’s 15th Annual Art for Life Gala. The July Communications’ Eighth Annual Ladies Who Laugh show. The July 15 26 fete brought in more than $1.3 million for inner-city arts education. event raised nearly $10,000 for the group’s foundation scholarships. MONDAY, AUGUST 25, THROUGH MONDAY, SEPTEMBER 8 For two weeks, Queens gets some global See more of this week’s Snaps online at CrainsNewYork.com/galleries. love as the home to the country’s pre- eminent tennis tournament.The U.S. OPEN, the fourth leg of the Grand Slam, is held in the USTA Billie Jean King National Tennis Center, Flushing Meadows Corona Park, Queens.Ticket prices and times vary. For information and tickets, visit www.usopen.org. I took on energy

OPENING FUNDRAISERS efficiency. And FRIDAY, AUGUST 22, THROUGH THURSDAY, AUGUST 21 SUNDAY, NOVEMBER 30 To get a flavor of the U.S. Open without actually took control of my Taking its inspiration from a new going, the TASTE OF TENNIS GALA features food book by New York from 25 of the city’s top chefs, as well as drinks, bottom line. Times urban-affairs live music and tennis stars including Serena correspondent Sam Williams. A portion of the proceeds benefits When it comes to the cost of doing Roberts, the New- City Harvest.The party, which runs from 7 p.m. business in the multifamily sector, there York Historical to 10 p.m., will be held at the W New York, 541 are some things you can’t control. Society presents Lexington Ave. For tickets ($275), visit Energy use isn’t one of them. With SELECTIONS FROM A www.eventbrite.com/e/taste-of-tennis-tickets- HISTORY OF NEW 11638066771. comprehensive energy upgrades through YORK IN 101 the New York State Energy Research OBJECTS. Some of the most unique THURSDAY, AUGUST 28 and Development Authority’s Multifamily items from Mr. Roberts’ tome are What better way to toast the end of summer Energy Performance Portfolio, my on display, ranging from the water than with food, wine and entertainment in the keg that marked the opening of the Hamptons? The Southampton Arts Center building’s systems work together as a Erie Canal to dust from Ground hosts SUMMERFEST to benefit its programming. lean, energy-saving unit and constant Zero.The museum is located at The event features cuisine from some of the maintenance and repair is a thing of the 170 Central Park West; admission most acclaimed East End restaurants.The party past. Now, my energy bills are down and is $19 for adults. Visit runs from 6 p.m. to 9 p.m. at 25 Jobs Lane. For www.nyhistory.org/exhibitions/brief information and tickets ($500), visit my property value is up. The bottom line? -history-new-york-selections-history- www.southamptoncenter.org/event/summer- An annual average return on investment new-york-101-objects. fest-benefit. of 22%. So, are you ready to take control?

Learn more and get started. Visit MARK YOUR CALENDAR… nyserda.ny.gov/Crains-profitability SATURDAY, SEPTEMBER 27, AND SUNDAY, SEPTEMBER 28 ROBERT PLANT brings a whole lotta love to New York with his latest backup band, the Sensational Space Shifters, for a two- night spell at the Brooklyn Academy of Music. The Led Zeppelin frontman turned country-rock crooner performs at the BAM Howard Gilman Opera House, 30 Lafayette Ave., at 8 p.m. For information and tickets ($35 to $100), visit www.bam.org/ MEPP-OWN-pp-ad-3-v5

music/2014/robert-plant-and-the-sensational-space-shifters. ed miles

August 18, 2014 | Crain’s New York Business | 31 IT’S AN EXCITING TIME TO LIVE IN NEW YORK CITY

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