Women Entrepreneurs and Practitioners Reclaim the Birthing Business

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LABOR GAINS Women entrepreneurs and practitioners reclaim the birthing business

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FROM THE NEWSROOM | JEREMY SMERD Biased against the Bronx IN THIS ISSUE 4 AGENDA

FOR MANY NEW YORKERS, the Bronx still conjures images 5 IN CASE YOU MISSED IT of mayhem and poverty. But the entrepreneurs who 6 WHO OWNS THE BLOCK Poor earnings for Goldman operate out of the borough want the world to know that 7 REAL ESTATE could signal times have changed, even if attitudes haven’t. “I’ve been a tough 8 ASKED & ANSWERED fourth quarter in the Bronx 40 years,” said John Mullane, president of for banks 9 WALL STREET art handler Transcon International. “I’ve seen it burned 10 down and I’ve seen it come back up.” SPOTLIGHT He said the borough is undervalued and undersold, 12 INSTANT EXPERT and that an upside awaits those 13 POLITICS who work or invest there—if only more would work There’s a 14 VIEWPOINTS and invest there. That concern was echoed by two 16 THE LIST dozen other Bronx entrepreneurs during a recent visit “perception issue. to Boricua College for an on-the-record discussion with That’s something FEATURES Crain’s reporters and editors. we struggle with. 19 PHILANTHROPY Though we are lucky enough to be able to welcome a 20 COVER STORY steady stream of entrepreneurs, policymakers, How do we break politicians and other dealmakers into our newsroom, through the negative we also like to venture out to meet business owners and media barrier? discuss the issues that matter most to them. One of the findings from our sojourn earlier this month was the degree to which many businesses face bias because they are based in the Bronx. This was especially true for tech entrepreneurs. I found that to be striking. After all, the Bronx could give the tech industry some much-needed diversity. In fact, entrepreneurs make this point to investors, often to little avail. P. 10 SPOTLIGHT “There is a perception issue. That’s something we struggle with,” said Keith Klain, COO of Doran Jones, which bills itself as the first urban “on-shoring” tech 31 GOTHAM GIGS firm in the country. “How do we break through the negative media barrier?” 32 EXECUTIVE MOVES Klain believes the Bronx is the next tech hub, with its affordable real estate 33 SNAPS and lower-paid workforce just waiting to be trained. That’s why he moved his company from Manhattan. His rivals are companies in India and other overseas 34 FOR THE RECORD locales whose low-wage tech workers do quality assurance and other basic tech 35 PHOTO FINISH jobs. He’s competing on price and performance while boosting local employment and diversifying the tech industry. Yet he faces skeptics all the time, as does Philip Shearer, the director of Scenyc (pronounced “scenic”), a startup he describes as the borough’s first accelerator. His biggest challenge is raising capital. As soon as he says he’s from the Bronx, potential investors, including those born and raised in New York, ON THE COVER ask why he hasn’t set up shop in Manhattan. The answer he gives is the answer PHOTO: BUCK ENNIS repeated by others: There’s no other place they’d rather be. Ⅲ

DIGITAL DISPATCHES CONFERENCE CALLOUT NOVEMBER 5 Go to CrainsNewYork.com READ CRAIN’S BUSINESS Two-year-old The Wheel is BREAKFAST FORUM fitness brand that’s coming to Staten a favorite of J.Crew’s > Island, thanks in Maria Torres-Springer, the newly president landed part to the EDC. appointed president and chief $7 million in financing executive of the NYCEDC, ■ Lure of Brooklyn office discusses the de Blasio market spurs developer to nix waterfront administration’s philosophy of condo plans economic development. LISTEN Hear what fuels NYC’s NEW YORK boutique birthing business. Learn why ATHLETIC CLUB Danny Meyer will end tipping at his 180 Central Park South restaurant empire. Plus, music by 8 a.m. to 9:30 a.m. Relations. CrainsNewYork.com/podcast

Vol. XXXI, No. 42, October 19, 2015—Crain’s New York Business (ISSN 8756-789X) is published weekly, except for double issues the weeks of June 29, July 13, July 27, Aug. 10, Aug. 24 and Dec. 21, by Crain Communications Inc., 685 Third Ave., New York, NY 10017. Periodicals postage paid at New York, NY, and additional mailing offices. Postmaster: Send address changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. For subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 one year, $179.95 two years. (GST No. 13676-0444-RT)

OCTOBER 19, 2015 | CRAIN’S NEW YORK BUSINESS | 3 20151019-NEWS--0004-NAT-CCI-CN_-- 10/16/2015 8:49 PM Page 1

AGENDAWHAT’S NEW OCTOBER 19, 2015 Danny Meyer’s no-tipping plan is anything but gratuitous

ot everyone in New York City’s restaurant industry is eager to adopt the ban on tipping that one of its stars, Danny Meyer, will institute in 13 of his establishments, starting in late November at the Modern, and at Union Square Cafe, NGramercy Tavern and the others next year. No doubt some restaurateurs are hoping it doesn’t pressure them to change as well. But we’re pulling for him.

If nothing else, Meyer deserves credit for innovation, not to mention TIPS cannot bravery—he expects to raise prices on his menus by 21% to 25%. The be shared increases should allow him to pay his tipped employees at least as much with back-of- the-house as they earn now, while better compensating the indispensable back- staff, leading of-the-house staff whom diners never see. If Meyer’s customers don’t to pay disparities balk, he will end up with the resources to ensure happier and more stable crews in an industry plagued by high turnover. some paperwork headaches. But ultimately, it should simplify his Why can’t restaurants just pool servers’ tips and share them with the finances, not to mention those of diners. Americans are not exactly known kitchen crew? Regulations allow only employees who interact with for their math skills, especially after a few drinks. For some diners, tipping customers to receive tip money. On a is more of a burden than a privilege. Meyer’s busy night, cooks and dishwashers The restaurateur plans to raise gratuity-free restaurants—which, alas, work harder for the same pay. menu prices, pay kitchen workers will not include Shake Shack—also won’t Defenders of gratuities suggest more, reduce turnover and keep have to worry about foreign visitors who that it’s a necessary incentive for the don’t realize tipping is customary here. waitstaff to provide friendly, servers whole. We hope he succeeds Hospitality experts acknowledge that attentive service. But we’ve all experienced companies in lots of service industries great customer service from nontipped workers—Disney employees succeed without their employees having to rely on tips. The biggest come to mind—as well as lousy treatment by tipped workers. Clearly, adjustment for restaurants, they say, will be a cultural one, because tipping tips do not guarantee excellent service. is so ingrained. While lower-end restaurants are unlikely to change their Besides, studies have shown the quality of service doesn’t change ways, Meyer could show the transition to be easier than they think. The diners’ tipping habits much. That leaves little rationale for tipping. fundamentals of the business won’t change: People dine out because they Restaurants do it mostly because their competitors do. like to eat, drink and socialize, not because they like to tip. Good food, Meyer’s new policy will increase his payroll taxes and initially produce service and ambience will keep them coming back. – THE EDITORS

FINE PRINT A New York Times Sunday Review piece Oct. 4 outraged environmentalists by arguing that recycling has gone too far. Writer John Tierney claimed that New York City pays $300 more to recycle a ton of trash than it would cost to bury it. But Rob Kaplan of the Closed Loop Fund dug through budget documents and wrote on Medium.com, “We can’t find any numbers from the Department of Sanitation to support this $300 figure.”

BY JONATHAN LAMANTIA STATS 25 WORDS OR LESS BROOKLYN’S ILLS THE CITY’S Department of Health and Mental Hygiene

This is America. released a report showing the health disparities CITY AND THE “ among Brooklyn’s 18 community districts. We should be Life expectancy of Brownsville residents, in years. That’s 11 fewer than in the financial district, which has the able to buy ads 74.1 longest life span in the city Portion of Brownsville residents who live below the for any kind of % federal poverty line. Poverty is strongly correlated political speech 37 with shorter life spans Portion of adult Brooklyn residents — Amalgamated Bank CEO Keith % who rated their own health as Mestrich, after the MTA pulled the 75 “excellent,” “very good” or “good” bank’s ads calling for a $15 Portion of adult Brooklyn residents who minimum wage. The MTA said the ads % are obese, versus 24% citywide violated its “viewpoint-neutral” policy. 27

ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY SOURCE NYC Dept. of Health BUCK ENNIS, IRINA IVANOVA and Mental Hygiene

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AGENDA ICYMI CRAINS EDITOR IN CHIEF Rance Crain publisher, vp Jill R. Kaplan assistant to the publisher Alexis Sinclair, 212.210.0701 EDITORIAL The liquidation editor Jeremy Smerd assistant managing editors Barbara Benson, Erik Engquist of a liquid chain web editor Amanda Fung copy desk chief Steve Noveck HE DEMISE LAST WEEK of 15-year-old juice chain art director Carolyn McClain photographer Buck Ennis Organic Avenue was the end to months of financial senior reporters Joe Anuta, Aaron Elstein, Matthew Flamm, Daniel Geiger, struggles, layoffs and store closures. In its heyday Adrianne Pasquarelli T reporters Jonathan LaMantia, Caroline Lewis two years ago, the company boasted $20 million in data reporter Gerald Schifman annual sales, but has been squeezed by growing web producer Peter D’Amato columnist Greg David competition from trendier players. In a Chapter 7 contributing editors Tom Acitelli, Theresa Agovino, Paul Bennett, bankruptcy filing, Organic Avenue listed assets of $3.4 Erik Ipsen, Judith Messina, Cara S. Trager million and liabilities of $2.5 million. It closed all 10 of its ADVERTISING www.crainsnewyork.com/advertise city locations. advertising director Irene Bar-Am “Organic Avenue practically created the category of [email protected] or 212.210.0133 raw foods and juice in a retail environment, but others copied and improved upon the concept and passed senior account managers Jill Bottomley Kunkes, Rob Pierce them by,” said Greg Wank, chairman of the food and beverage services group at Anchin Block & Anchin. In account managers Zita Doktor, Jake Musiker, recent years, Organic Avenue expanded too quickly into additional sites—some as large as 1,200 square Stuart Smilowitz marketing coordinator LeAnn Richardson feet. To spur sales, last year it branched out beyond its niche offerings of cold-pressed juice to a more sales/events coordinator Ashlee Schuppius 212.210.0282 extensive menu by adding coffee, oatmeal, soup and wraps, but the strategy came too late. Consumers [email protected] ONLINE had already moved on to other sources for their kale and ginger blends. general manager Rosemary Maggiore Wank noted that Organic Avenue’s liquidation is an opportunity for other players in the juice market, 212.210.0237 [email protected] which may snap up some of the closed locations. Indeed, Juice Press, a five-year-old chain that expects to CUSTOM CONTENT director of custom content hit $40 million in sales this year, has been expanding its real estate to 32 stores. Chief Executive Marcus Patty Oppenheimer 212.210.0711 Antebi said he may look at some of the shuttered shops. Other competitors Juice Generation and Liquiteria have [email protected] EVENTS also been in growth mode. Of course, rivals need to make sure they don’t repeat Organic Avenue’s www.crainsnewyork.com/events director of conferences & events mistake of expanding too quickly. Courtney Williams, 212.210.0257 According to Organic Avenue’s filing, the chain owes money to more than 100 creditors. Among them are [email protected] manager of conferences & events Fine & Raw Chocolate, a Brooklyn-based seller that launched seven years ago, and ItsKale. – ADRIANNE PASQUARELLI Adrienne Yee AUDIENCE DEVELOPMENT director of audience & content partnership development Pulling plug on TVs in cabs a gun-smuggling bust in which eight Michael O’Connor, 212.210.0738 DATA POINT [email protected] Under a one-year pilot program, people were charged with running a CRAIN’S 5BOROS some taxi TVs will be replaced by a IN SEPTEMBER, NEW YORK scheme to use cheap Chinatown www.5boros.com buses to transport illegal guns into Irene Bar-Am, 212.210.0133 new payment and metering system [email protected] CITY’S AND STATE’S the city, mainly to Brooklyn. that won’t have monitors. The plan, SPECIAL PROJECTS which was passed by the Taxi and UNEMPLOYMENT RATES manager Alexis Sinclair 212.210.0701 Limousine Commission, will involve Tall latte, please [email protected] DROPPED 5.1% AND 5.2%, REPRINTS retrofitting 1,000 yellow cabs. The Starbucks will start delivering coffee RESPECTIVELY—THE LOWEST reprint account executive Krista Bora city hopes that getting rid of the TVs, to office workers in the Empire State 212.210.0750 which replay local news, will help FOR BOTH SINCE 2008 Building for a flat $2 delivery fee. PRODUCTION Employees can place their orders on production and pre-press director yellow taxis compete against Uber Simone Pryce and other on-demand car services. a designated website and receive media services manager Nicole Spell Independent Budget Office. There their java within 30 minutes. SUBSCRIPTION CUSTOMER SERVICE Digital dough are currently 271 shelters funded by Depending on how the Empire State www.crainsnewyork.com/subscribe [email protected] The New York metro area attracted the city. The number of homeless plan works out, the Seattle-based 877-824-9379 (in the U.S. and Canada). $1.8 billion in venture-capital families peaked at 59,060 in coffee chain may expand it to other $3.00 a copy for the print edition; or $99.95 buildings here. – AMANDA FUNG one year, $179.95 two years, for print investment for the third quarter of December, before falling 4% by June. subscriptions with digital access. 2015, 3% higher than the year-earlier to contact the newsroom: period, according to a recent report. A Vogue publisher buys music site www.crainsnewyork.com/staff 685 Third Ave., New York, NY 10017-4024 portion of the fundraising is To boost its digital offerings, Condé phone: 212-210-0100 fax: 212-210-0799 attributable to a $200 million round Nast has acquired indie music-review Entire contents ©copyright 2015 for BuzzFeed and a $100 million round site Pitchfork Media. Terms of the deal Crain Communications Inc. All rights reserved. ®CityBusiness is a registered for music-streaming service Saavn. were not disclosed. Pitchfork, which trademark of MCP Inc., used under license has editorial offices in Brooklyn and a agreement. MTA wage-ad ban quarterly print magazine, Pitchfork CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS The Metropolitan Transportation Review, said it will maintain its chairman Keith E. Crain Authority tore down subway ads creative independence. president Rance Crain that promote a $15 minimum wage treasurer Mary Kay Crain, Cindi Crain executive vp, operations William Morrow because they violate a new policy Communications startup gets cash executive vp, director of strategic that bans “ads of a political nature.” Symphony scored $100 million from operations Chris Crain Trump to host SNL executive vp, director of corporate The banner and poster ads by Google and other investors. The deal operations K.C. Crain Amalgamated Bank were approved reportedly values the instant- Republican presidential candidate senior vp, group publisher David Klein in error by an MTA contractor. messaging company, backed by Donald Trump will host Saturday vp/production, manufacturing David Kamis chief financial officer Thomas Stevens Goldman Sachs and JPMorgan Chase, Night Live on Nov. 7. It will be chief information officer Anthony DiPonio Shelter spending at about $650 million. the second time the real estate founder G.D. Crain Jr. [1885-1973] Since 2007, government spending on mogul and former Celebrity chairman Mrs. G.D. Crain Jr. [1911-1996] secretary Merrilee Crain [1942-2012] city homeless shelters has risen 62%, Crackdown on illegal guns Apprentice star has hosted the to an expected $1 billion this year, Brooklyn District Attorney Ken popular NBC show.

AP IMAGES, BLOOMBERGNEWSS according to a new report from the Thompson said his office was behind

OCTOBER 19, 2015 | CRAIN’S NEW YORK BUSINESS | 5 20151019-NEWS--0006-NAT-CCI-CN_-- 10/16/2015 5:55 PM Page 1

AGENDA WHO OWNS THE BLOCK REAL ESTATE

70 PINE STREET

Buildings you can bank on Wall Street to Pine Street, between Pearl and William streets

BY TOM ACITELLI

illiam, Pearl, Wall and Pine streets form one of the financial district’s most bullish blocks, whose buildingsW encapsulate capitalism’s creative and destructive forces. On one end resides New York’s monument to the industry that MUSEUM PIECE revs its economic engine: the 48 WALL ST. Museum of American Finance, The address is best known as the old which is located inside 48 Wall Bank of New York Building, which St., built 87 years ago originally to went up in 1928 in place of a property the institution had used house the Bank of New York. since 1797. Not surprisingly, the In the middle, dominating the Museum of American Finance, which block, rises the massive 60 Wall bills itself as “the nation’s only St., built by JPMorgan Chase in independent museum dedicated to preserving, exhibiting and teaching the 1980s to be its headquarters, about American finance and financial and acquired later by Deutsche history,” now calls it home (as do law Bank, which sold it for what was and communications firms). Private landlord Swig Equities and then the biggest sum ever in investment group MacDonald & Cie downtown Manhattan. acquired the 324,000-square-foot American International Group property in 1998. made its headquarters in this area, too, with two adjoined GREAT RECESSION REBOUNDS buildings, one on Pine and the other on Wall; but 72 WALL AND 70 PINE STREETS the company had to unload them in the wake of The buildings had been part of American Insurance the Great Recession, capitalism’s latest great Group’s two-tower headquarters, connected via a crisis, in which AIG played a leading role. Now, skybridge, but after its federal bailout the company as has been the case with so many of the city’s sold both towers in 2009 to investors led by South Korean bank Kumho Investment. The $150 million sale older buildings possessing architectural verve, price was a steep discount from its prerecession value. developers have swooped in, converting one of In 2010, Chinese real-estate and home-goods firm the buildings into a high-end condo. Ⅲ Soufan Holdings bought the 250,000-square-foot upper office portion of 72 Wall for $46 million. The following year, Youngwoo & Associates bought the 6,100-square- foot retail portion for $14.5 million. Meanwhile, Rose CHECKING INN Associates has converted 70 Pine into high-end rentals. 52 WILLIAM ST. Eastbridge Group, a Luxembourg-based holding company, co-owns the tower with Rose. A lounge and The building’s owner, a limited- restaurant planned for the top floors—which will liability company called RCQ reportedly be run by Spotted Pig restaurateur and Hotel FD, appears through state Crain’s 40 Under 40 honoree April Bloomfield—will records to be tied to the family of open the landmarked building to the public for the first the late Ralph Bahna, a travel and time in about 40 years. hospitality pioneer who founded the business-traveler-targeted Club Quarters hotel chain and was chairman of Priceline.com. Bahna, who died in 2014, BANKABLE 60 WALL ST. developed the hotel, which dominates 52 William’s nearly Originally built in the late 1980s by and for JPMorgan 120,000 square feet. It opened in Chase, Deutsche Bank bought 60 Wall in 2001 for 1995, a year after a Club $600 million and then traded it to the Paramount Quarters on West 45th Street. Group, a Manhattan-based real estate investment trust, in a sale-leaseback agreement that keeps the German bank housed in most of the building. When Paramount bought the 1.6 million-square-foot tower from Deutsche Bank for $1.2 billion in 2007, it was the biggest building sale in downtown’s history. MAP: OASISNYC/ PHOTO: BUCK PHOTO: MAP: OASISNYC/ ENNIS

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AGENDA REAL ESTATE

Silverstein reconsiders mega-tall West Side residential tower Affordable housing may have been sticking point BY DANIEL GEIGER

ilverstein Properties is A City Hall spokesman, ramp to the Lincoln Tunnel. least 250,000 square feet for backing away from a however, suggested that Because the property is affordable housing. But that large West Side devel- there had also been difficult within the Hudson Yards—a figure fell short of the 375,000 opment, where it had negotiations in recent months predominantly commercial square feet the city sought. profit substantially from a Shoped to raise the tallest over how many units of neighborhood—about 1.2 mil- Spokesmen for both the sale at a time when devel- residential tower in the city— affordable housing Silverstein lion square feet of the tower city and Silverstein said that opment properties have a spire that would soar over would have to include in the was required to be office space. the two parties eventually reached record values. The 1,100 feet and include more mega-tower. The developer The developer recently agreed that 375,000 square company believes 514 11th than 1,400 units of luxury had initially offered to build sought allowances from the feet of affordable units would Ave. could fetch up to $500 housing and 300,000 square fewer affordable apartments city to convert the bulk of be included in the project. now. feet of retail space. than the city required. that office requirement into Sources said the sale will The company, developer of “This project would be held residential units, insisting Possible repercussions allow Silverstein to focus on the World Trade Center, hired to the same mandatory that the site was better “This is a very complex other large projects in its CBRE to sell the property, a affordable-housing require- connected to Hell’s Kitchen, project, and it’s not clear that pipeline. The developer is in former Mercedes dealership it ment as every city-backed or a neighborhood composed of affordable housing is actually the process of building 3 acquired earlier this year for private rezoning,” the spokes- apartment buildings. Just the sticking point,” the city World Trade Center, a 2.5 about $100 million. man said in a statement. west of the property is Silver stated. million-square-foot office The company, founded by Towers, two residential The deal’s collapse could tower that will be anchored by ‘Not the right time’ Larry Silverstein (pictured), skyscrapers that hold about dampen enthusiasm among GroupM. Silverstein is also “With everything we have planned to build about 1.8 1,300 rental units, which other big builders who face trying to finalize a deal to build going on at the World Trade million square feet of space on Silverstein finished building affordable-housing quotas in 2 World Trade Center, a 2.8 Center and elsewhere, this the site. Located at 514 11th in recent years. exchange for the right to build million-square-foot tower just isn’t the right time for us Ave., it takes up the full block To receive an allowance residential high-rises on designed by star architect to develop this project,” a between West 40th and West from the city to build more pricey parcels. Silverstein Bjarke Ingels and anchored Silverstein spokesman said in 41st streets, and runs from residential units, Silverstein hopes that’s not the case. The by 21st Century Fox and Ⅲ BUCK ENNIS a statement. 11th Avenue to a midblock on- initially offered to reserve at company is positioned to News Corp.

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AGENDA ASKED & ANSWERED HEALTH CARE

LOUIS SHAPIRO INTERVIEW BY CAROLINE LEWIS

It’s incumbent “upon you to ver the past 150 years, the Hospital for Special demonstrate Surgery has honed an international reputation for your value. restoring mobility to professional athletes, weekend If we’re not warriors and aging baby boomers. It’s a great niche. better than the OBut HSS is a independent specialty hospital in a New York area market where hospital mergers are commonplace. HSS will competition, then remain a holdout, said Louis Shapiro, its chief executive of what’s the point? nine years.

How is HSS different from other hospitals? We’re organized around one type of disease: musculoskeletal. We’re not the only place in the country like this, but it’s more unique than common. When you only do one thing and you do a lot of it, and all your systems are organized around it, you tend to produce a better health outcome.

What’s your strategy for remaining independent during this consolidation wave? The challenge is it’s incumbent upon you to demonstrate your value. If we’re not better than the competition, then what’s the point? We have a very complicated strategy that includes growing and innovating and changing how we do things. DOSSIER Organizations that are just trying to control the market are risking making health care overcommoditized. WHO HE IS President and CEO, Hospital for Special HSS has collaborations with unknown companies as well as big players like Surgery Pfizer. What’s your strategy for new commercial partnerships? AGE 56 BORN Pittsburgh We have all kinds of things that we’re working on. On the innovation side, we’re working with a couple of digital health EDUCATION University of companies to enable us to communicate better with our Pittsburgh, B.S. and master of health administration patients. We’re helping some of these companies develop their products and then using them to deliver more value. Hopefully FIRST-TIMER Shapiro, the son of that will make the companies more successful, too. a stay-at-home mom and a father who managed a retail store, was the first in his extended family to attend Ten years from now, what will be the biggest change at HSS? college. When Shapiro was young, his Our knowledge and services will be available over a much broader, parents’ ailments frequently landed global geography. It’s common to see specialty hospitals for them in the hospital, which is what first pediatrics or cancer. We’re unique in our focus on musculoskeletal gave him the idea he might want to work in one. diseases. So we know a lot of stuff. And you’ll see us developing capabilities for sharing that with others. We already do that GROWTH STRATEGY Shapiro globally, both in our educational mission and on a commercial always aims to have a satellite location that has just opened and another that’s in basis. the works. Most HSS offices are in the five boroughs and surrounding areas. It also What are you working on now in terms of new technology and innovation? owns two physical-therapy practices in We’re investing in our communication strategy and in consumer- Florida. The next HSS project to open will be a 50,777-square-foot extension site on the driven health care. Consumers need to be informed, or they’re Upper East Side, near the hospital’s just going to be making decisions based on price or their flagship. insurance network. That’s why we started our “Back in the

Game” campaign. It focuses on storytelling and seeing what the BUCK ENNIS organization is capable of through the eyes of those who were treated here.

Were you surprised so many people shared recovery stories through the “Back in the Game” website and hashtag? A little. I was excited by it. There was an onslaught of stories. We want people to be proud to say, “I went to HSS.” People understanding who we are and what we represent is important. That’s hard to do. I mean, we’re in New York City and it’s a pretty crowded, noisy place to get noticed. Ⅲ

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AGENDA WALL STREET

Earnings drop at Goldman Sachs Goldman’s earnings fell nearly portends rough end of year for banks 40%. City could feel ripple effects of volatile markets BY AARON ELSTEIN

t may sound like a unsteady global economy large numbers of people. with the likes of First Data, a stretch to say that New could weigh on results in the “We continue to believe that long-established giant in the York’s economic well- second half. the company needs to do field that went public last being hinges on Wall more on expenses to increase week after cutting its IStreet. So let us explain. Ongoing problems earnings going forward,” offering price and raising less The securities industry That caution proved said analysts at Keefe cash than it had hoped for. accounts for only 5% of justified when Goldman Bruyette & Woods. private-sector jobs in the Sachs last Thursday reported Still, the third quarter Lackluster IPOs 40% city but 22% of all wages. a nearly 40% drop in third- wasn’t a complete bust. If Goldman, the Square When bond traders and quarter earnings, the result Goldman generated revenue IPO’s lead underwriter, can’t investment bankers are of markets taking hits across from advising on corporate round up investors, other, flush, tax revenue rolls in, the globe. “The main issue mergers and taking lesser companies may think much capital it must hold in and there’s plenty of money is the ongoing weak companies public. Given twice about going public. reserve. Management also to go around for schools, performance” in the firm’s how lackluster trading is, the Then things could get really talked last week about its libraries and police, as well as bond, currency and firm’s dealmakers are going unpleasant for Wall Street commitment to paring costs. the brokers selling million- commodity trading division, to have to carry everyone’s and the city it calls home. “We remain on track to dollar apartments and the said analyst Glenn Schorr of weight for the foreseeable Already, some of the big deliver expense reductions,” architects renovating them. research firm Evercore ISI. future. To do that, of course, banks are hunkering down. said Chief Financial Officer Earlier this month, the Compensation, much of the dealmakers need deals to JPMorgan Chase, the city’s Marianne Lake. state comptroller said that which will be paid out later as sell. And that’s why an initial largest private-sector If there’s a silver lining, Wall Street had its most bonuses, declined by 16%, public offering for a company employer, last week it’s that the city isn’t as profitable first half of the and, barring a sudden uptick called Square is so important. disclosed that it had shrunk dependent on Wall Street as year since 2011. But Tom in trading, it seems only a Square, which filed for an its asset size as it tries to avoid it was back in 2008, when the DiNapoli’s report noted that matter of time before IPO last week, is a payments the most strenuous industry accounted for 24%

BUCK ENNIS volatile markets and an Goldman starts letting go of processor that competes regulations concerning how of all wages paid in the city.

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OCTOBER 19, 2015 | CRAIN’S NEW YORK BUSINESS | 9 20151019-NEWS--0010-NAT-CCI-CN_-- 10/16/2015 3:39 PM Page 1

AGENDA SPOTLIGHT SMALL BUSINESS

Blender takes shared workspace upscale

Like WeWork, but for the cultured crowd BY MATTHEW FLAMM

or the nine months that Jeffrey Fidelman headed investor relations for a startup based at a Manhattan WeWork location, he found the shared space a fine place to work. He just didn’t like bringing investors there. “If I wanted to have a sophisticated sort of event, I was left Flooking for other places,” he said. Fidelman still supports the shared-space concept that WeWork has come to represent. He just wants to try a variation. The independent financial adviser plans to set up in Blender Workspace, a new co-working enterprise designed to make the moneyed crowd and their solicitous hosts never want to leave. Taking up the eighth floor at 135 Madison Ave., Blender will be the boutique hotel to WeWork’s lodging-chain experience, according to co- founder and Chief Executive Scott Sassoon, a luxury-residential contractor backed by private investors. He expects the 14,430-square- foot space to open in the first quarter of next year. And though Blender will be different from WeWork, Sassoon and his partners envision a national network of locations—except that these will offer upscale design, obsessive customer service and event programming for a cultured crowd. Among the amenities planned are a lounge and events area served by its own elevator, offices with soundproofing and frosted glass, a café with a select gourmet menu (but no free beer on tap, a WeWork hallmark), a “wellness” room for meditation and quiet work, and a reception area reminiscent of a luxury hotel’s.

Access to anything entrepreneurs need As with many new businesses these days, the idea took shape at a WeWork. Sassoon and co-founder Amro Qaddura spent four months taking notes on their competition inside a Madison Avenue location. “There were many good things, and many things we wanted to improve upon,” Sassoon said. “For the most part, we felt we could offer a much better level of service and hospitality to a group of professionals who appreciate a beautiful aesthetic and a more boutique experience.” STEPPING UP: Like other co-working spaces, Blender will offer access to payroll, Blender co-founders Amro legal and accounting services, health insurance, high-speed broadband Qaddura and Scott Sassoon will and pretty much anything else that entrepreneurs need. Sassoon is eyeing transform this floor at 135 Madison Ave. into an upscale three more locations in the city, as well as more space at 135 Madison Ave. co-working space. He said that about 20% of the desks at Blender are spoken for. It will hardly be the first co-working space to aim for the high end. NeueHouse, which has one location in the Flatiron district, has an invitation-only admissions policy and prices that start at $1,300 a month. Blender will be positioned more in the middle range. Rents will run at about 10% to 15% higher than at WeWork, where desks go for $350 to $500 a month and offices from $650 to $1,000, depending on the location. Blender will hit the market as the co-working wave shows no sign of cresting. Real estate research firm CompStak counts a dozen co-working leases signed in New York City in the past 12 months, for a total of 1 million square feet—almost double the space in the previous 12 months. WeWork, which has 19 locations in New York and at least two more on the way, raised $400 million in June, putting its valuation at $10 billion. But questions have arisen over whether WeWork’s growth is sustainable. Even the broker who handled the deal for Blender wonders whether FOCAL POINTS workspace operators could weather a downturn.“They’re signing long-term obligations, and they have short-term funding [from their tenants],” said Michael Moorin, senior managing director at Newmark Grubb Knight Frank, LOCATION 135 Madison Ave., at East 31st Street who added that he couldn’t see leasing the company more than one of the FOUNDERS Amro Qaddura and Scott Sassoon four soon-to-be-vacant floors beneath it. Sassoon argues that Blender is well positioned for a slowdown. His 10- INVESTORS Private individuals, including Teddy Downey, an investor in Lyft year lease, he said, is nearly 30% below the market average in midtown south, where asking rents are $71 per square foot. A downturn could lead PLAN FOR GROWTH With its first space set to open in early 2016, the to an increase in freelancers as well as small companies not wanting to company hopes to create a community of entrepreneurs who want a stylish spend much on office space or make long-term commitments, said angel office setting where they can bring clients, network and set up shop. The investor Teddy Downey, a Blender backer whose other investments company is looking to open three other locations. include ride-share company Lyft. The growth of the freelance economy has changed how businesses NAME EXPLAINED “It’s about combining ingredients to create something operate, said David Rose, a former real estate executive and CEO of Gust, a better,” Sassoon said. “Members will gain inspiration and new business from platform for investors and tech startups. “There is virtually an insatiable our community.” Ⅲ BUCK ENNIS need for this new kind of flexible, shared real estate,” he said.

10 | CRAIN’S NEW YORK BUSINESS | OCTOBER 19, 2015 CRAIN’S 2015 HEALTH CARE SUMMIT: TRANSFORMINGTRANSFORMING PATIENTSPATIENTS INTOINTO SATISFIEDSATISFIED CUSTOMERS CUSTOMERS

Do you really know what drives patient satisfaction and loyalty? OPENING KEYNOTE DISCUSSION: Tuesday, November 17, 2015 Sheraton New York Times Square 811 7th Avenue 8:00 a.m. - 8:30 a.m. Registration and Networking Breakfast Danny Meyer Susan Reilly Salgado 8:30 a.m. - 12:00 p.m.: Program CEO, Union Square Managing Partner, Hospitality Group Hospitality Quotient Cost to Attend: PANEL 1: HOSPITAL CEOS: $325 individual ticket(s) Michael J. Dowling, President & CEO, North Shore LIJ Health System Ramanathan Raju, M.D., President & CEO, New York City Health and $3,250 table(s) of ten Hospitals Corporation $4,750 table of ten + full page journal ad Louis A. Shapiro, President & CEO, Hospital for Special Surgery (HSS) You must be pre-registered to attend this event. No refunds permitted. PANEL 2: THE EXPERTS WEIGH IN: Katherine Brieger, RD, Chief of Patient Experience and Staff Development, HRHCare Rick Evans, Senior Vice President and Chief Experience Officer, For event information: New York-Presbyterian Hospital Ashley Schuppius I 212-210-0739 Susan Frampton, Ph.D., President, Planetree [email protected] Lisa Freeman, Executive Director, Connecticut Center for Patient Safety Additional speakers to be confirmed For sponsorship opportunities: Irene Bar-Am I 212-210-0133 <> [email protected] crainsnewyork.com/events-hcnov2015 SUPPORTING SPONSOR: 20151019-NEWS--0012-NAT-CCI-CN_-- 10/16/2015 2:48 PM Page 1

AGENDA INSTANT EXPERT SOCIAL SERVICES

BY ERIK ENGQUIST Why taxis are disrupted, but not nearly dead [in 5 steps]

THE PLAYERS THE ISSUE Before ride-share apps, people App-based car services 2 were limited to have upended New York hailing taxis with an 1City’s liveries, black arm or a whistle, or cars and yellow cabs, booking a livery or scooping up passengers and black car by phone. signing up drivers at an Uber changed all that, astounding pace. More New growing its ridership Yorkers and tourists are e-hailing tenfold and powering a rides because the apps have jump in black cars to 25,000, from 9,100 two years ago. Rivals Lyft, made it fast and easy for Via and Gett, likewise launched with venture capital but with differing anyone with a smartphone ride-sharing models, contributed to that growth but remain specks in and credit card to get and Uber’s rearview mirror. Uber keeps 20% to 28% of every black-car fare and pay for a car. The tech $2 from every taxi hail brokered by its app. Meanwhile, the 13,637 yellow companies have eroded the cabs are in reverse, with fare revenue down 7% in the first six months market share of traditional of 2015 versus the same period last year. Borough taxis, introduced in providers, which until very recently lacked apps of their own. August 2013, numbered 8,050 as of June, helping push the livery-car Yellow cabs, unrivaled for 80 years thanks to their exclusive total above 32,000, from 25,000. right to respond to street hails, have seen the medallions that convey that right plunge in value. Many medallion owners and their lenders are in crisis, but taxis are fighting back with lawsuits and technology.

YEAH,BUT... Reports of taxis’ death have been greatly exaggerated. Taxis still make more than four SOME BACKSTORY 3 times as many pickups as Uber-affiliated cars. Taxis still make Riders with smartphones can now hail and pay for Such a free-for-all hasn’t more than four cabs Uber style, thanks to two new apps—Arro and happened since the 1930s, times as many Way2Ride—integrated into taxis’ dashboard devices. 4 when the city responded by City regulators are moving to make taxi drivers’ jobs issuing medallions, initially pickups as easier, such as by no longer making them work brutal charging $10 each. Corporate Uber-affiliated 12-hour shifts. That might stanch the loss of drivers medallions have sold for as much to Uber and reduce shift changes at the height of as $1.3 million, pushed up by cars, and have rush hour. Foreclosed medallions have sold for $600,000 aggressive bidders such as two new apps to $900,000 this year. Moreover, a federal judge this Evgeny “Gene” Freidman. He has that let riders month pushed Chicago to have identical rules for acknowledged overpaying to inflate taxis and their rivals, opening the door for similar the value of his medallion portfolio and hail them and decisions in pending New York cases. And a then borrow against it. Citibank later pay, Uber style California case could change Uber drivers from foreclosed on dozens of his independent contractors to employees, entitling precious metal plates. Other them to more benefits. medallion owners have fallen behind on loan payments as well. One credit union that made medallion loans has been taken over by regulators, and more could follow. Medallion sales WHAT’S NEXT have slowed to a trickle. If any lender finances a sale for a low E-hailing is here to stay, but taxi- price, it could trigger painful write- industry lawsuits could compel downs, foreclosures and further 5 regulators to treat taxis and other price drops. cars more equally, by eliminating taxi rules or applying them to all for-hire vehicles. The big one is fares: Uber nearly triples its rates during peak times, while taxis must charge less than the market will bear. BUCK ENNIS

12 | CRAIN’S NEW YORK BUSINESS | OCTOBER 19, 2015 20151019-NEWS--0013-NAT-CCI-CN_-- 10/16/2015 2:49 PM Page 1

AGENDA POLITICS

capital here. even using all of the exceed $10 million or if Council eyes third life “New York has got a available tax credits, head count exceeds 100 great location,” he said. which max out at employees. BY ERIK ENGQUIST for biotech tax credit You’ve got access to $250,000 per year for a Real estate interests hospitals and research single company, and $3 have argued that ew York the way for New York midtown district, it is institutions. You have million for all companies subsidies are needed for City’s bio- to continue to lead in not leading. At a Crain’s some risk capital, but more combined. In 2013, the the city to compete with tech tax this industry.” conference in April, is needed. The one thing city awarded $2.4 million San Francisco and Boston credit is But while New York Joel Marcus, founder you need is entrepreneurs to 28 companies through for biotech startups, Nlooking like one of those City’s biotech industry and chief executive of who have a track record. its program, up from 23 because building lab temporary subsidies has certainly grown, the Alexandria Center Boston has thousands of companies the previous space here costs $300 to that isn’t so temporary. notably on the for Life Science on East these people.” year. Companies can $600 per square foot, four Passed in 2009 by the hospital-heavy East 29th Street, cited a New York City’s outgrow the tax credit if to six times as much as City Council to help the Side, in Garodnick’s shortage of human biotech startups are not their annual product sales office space. Ⅲ city’s fledgling life- sciences sector gain a foothold, the program provides small biotech businesses with tax credits to offset their expenses for facilities, operations and training. The three-year program was to expire at the end of 2012, but was extended through 2015. Last week, council members Daniel Garodnick and Julissa Ferreras-Copeland Join us for a introduced a bill to continue it for three more years. global meeting The City Council has the authority to extend of the minds. this tax break, unlike many others, without the state’s blessing, thanks to a bill passed in Albany six years ago. PUT OUR TAILORED INSIGHTS TO WORK FOR YOU. The council’s finance staff evaluated the tax To make confident decisions about the future, middle market credit and in an eight- leaders need a different kind of advisor. One who starts by understanding where you want to go and then brings the page report called it “an ideas and insights of an experienced global team to help essential component of a get you there. significant, multileveled investmentin developing Experience the power of being understood. a thriving biotech sector Experience RSM. in New York City.” rsm us.com However, the report said only three recipients were surveyed. All three deemed the credit “crucial to their startup’s survival,” the report said, even though they were already benefiting from reduced rents in a subsidized incubator. At the same time, the council report found that many startups don’t know about the program, which is a spinoff of a state plan that helps the same businesses offset other costs. “This tax credit is about keeping New York strong in our rapidly growing biotech sector,” said Garodnick in a statement. “These resources directly help RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax and consulting firms. Visit rsmus.com/aboutus for more information regarding RSM US LLP and RSM International. to drive research and innovation, and pave

OCTOBER 19, 2015 | CRAIN’S NEW YORK BUSINESS | 13 20151019-NEWS--0014-NAT-CCI-CN_-- 10/16/2015 4:19 PM Page 1

AGENDA VIEWPOINTS

Stringer playing politics with pension funds What bad returns? Comptroller tries to sweep unwelcome news under the rug Last year’s investment results and the way they CITY COMPTROLLER has promised. And the comptroller post. So did everyone else. The trade were disclosed aren’t the Scott Stringer didn’t disclose how many billions of journal The Bond Buyer finally reported trumpeted the good dollars more the city will thus have to the news, as did I on CrainsNew- only disappointments in news in early August, contribute in future years. York.com. The bad news almost the nearly two years just weeks after the Managing the pension funds is the escaped any scrutiny. fiscal year ended. comptroller’s most important job. It’s For the record, the comptroller’s Stringer has been The 17.4% return a shame that political considerations office said it waited for audited results for the 2014 fiscal are playing such a big role for rather than release an city comptroller GREG DAVID year (ended June 30) Stringer. estimate as it did last year. would mean the city I had been pestering the % Last year’s investment would save $17.8 billion in comptroller’s office about returns and the way they were blocked the effort. In the summer of contributions to its employees’ when it would announce the 3.4 disclosed aren’t the only 2014, Stringer assured me he was RETURN last retirement system over six years, the results since late July, when year for city disappointments in the nearly making progress on getting the comptroller announced. “Any year in most states and cities with pension two years Stringer has been unions on board. which the pension funds achieve fiscal years ended June 30 funds comptroller. Fourteen months later, a double the assumed rate of return is a reported their investment During his campaign, spokesman said that “conversations good one in my book,” Stringer said. results. At the time, Stringer endorsed reforms are ongoing.” Of course, why would a This year, Stringer waited until Governing magazine, in a story proposed by his predecessor John Liu potential candidate for mayor want to Oct. 8 to reveal that the five pension headlined “Pension Plans Start and then-Mayor Michael Bloomberg alienate the city’s unions? It just isn’t funds earned only 3.4% for fiscal Sinking Again,” reported that that would save hundreds of millions good politics, no matter what the 2015. That’s less than half the 7% virtually all U.S. funds had failed to of dollars a year in administrative and cost. Ⅲ return the city assumes when meet their targets. investment fees by consolidating the calculating how much taxpayer I was away earlier this month so I work of the five pension funds that GREG DAVID blogs regularly at money will go to pay the benefits it missed Stringer’s bare-bones website make up the city system. City unions CrainsNewYork.com.

The case for carbon pricing from the cap-and-trade system charges its cost to its global sites in known as the Regional Greenhouse proportion to their emissions. This Gas Initiative, under which New York Companies benefit by assigning a cost to emissions BY LANCE PIERCE sends “yet another important utilities such as Con Ed trade their financial signal to our sites,” the emissions under a cap at prices set at company said in its disclosure to CDP, uring Climate Week NYC, atmosphere as a result of man- auction. It is also different from carbon giving them financial incentives “to Pope Francis urged world ufacturing processes, or the burning taxes, in which governments compel consider the potential opportunities leaders to tackle climate of fossil fuels for energy. In most of the companies—and not society—to bear associated with reducing their carbon change, China announced U.S., it costs businesses nothing to the cost of their pollution. emissions.” Da national cap-and-trade system, and emit carbon. However, with an In-house prices on carbon pol- Goldman-Sachs has business corporations including Ikea, Mars and internal carbon price, a company lution are used for many reasons, but units “factor an internal price on H&M committed to using 100% emitting, for example, 50,000 metric they all alter how companies carbon into energy efficiency, renewable energy. Here in New York, tons of globe-warming CO2 into the calculate their return on investment renewable energy and other emission it is time for more companies to take atmosphere per year would multiply in projects that curb the use of fossil reduction activities,” using a return- action on climate by acknowledging, that figure not by zero dollars but by fuels. Some companies charge the on-investment model. on their books, that carbon emissions an allocated price. Companies who do estimated costs of each ton of carbon More than 500 other companies carry a price. this use a range of prices internally: emissions to the business units that including Yahoo say they expect to According to a new report from $10, $20 or even $150 per ton. produce them, giving managers use carbon pricing within two years, CDP, the environmental nonprofit I Our data, collected on behalf of bottom-line incentives to find which will push the total above lead in North America, New York- 822 investors managing assets of $95 energy efficiencies and to switch to 1,000. based Colgate-Palmolive, Goldman trillion and a group of purchasing cleaner fuels. Other businesses use a The Regional Greenhouse Gas Sachs and Hess Oil are among 437 giants with over $2 trillion in range of prices in scenario analyses to Initiative that governs New York state global companies already planning combined corporate procurement, guide decision-making, anticipating utilities generates funds from its for a low-carbon future by assigning show carbon pricing is moving into government caps or taxes on carbon emissions trading framework and uses a price to the greenhouse gases they the mainstream. Other companies that can range from high to low. them to incentivize carbon reduction. produce. Nearly triple last year’s who say they use carbon pricing to Still others actually set aside Many companies voluntarily pricing number of companies have told us strengthen their competitive money from polluting business units carbon are doing the same within their they’re using carbon pricing as a tool advantage include General Electric, to finance the shift to renewable operations as part of their overall to offset the risks of greenhouse-gas General Motors, Campbell’s Soup and energy throughout the corporation. strategy. emissions and, in some cases, to Fruit of the Loom, as well as For example, Microsoft channels the As successful companies around finance the cost of cutting them. technology leaders Microsoft, money charged to its business units Carbon pricing means applying a Google, LG, Hitachi and NEC. the world bet on a world where their per ton of their CO2 emissions into a carbon emissions will increasingly be price to each ton of carbon dioxide or Voluntary carbon pricing—or common fund that invests in its equivalent released into the internal carbon pricing—is different linked with the costs of polluting, New sustainability projects. Over time, York companies can powerfully shape these projects will help the company the trend, integrating new tools like CORRECTIONS Fashion site Refinery29 does not conduct e-commerce. This informa- reduce its CO2 emissions. carbon pricing alongside their tion was misstated in the Oct. 12 Fast 50 listings, in which Refinery29 ranked 33rd. Among New York-based established ones, and innovating for a The total number of New York area professionals at accounting firm CBIZ & Mayer companies, Colgate-Palmolive this sustainable future. Ⅲ Hoffman McCann is 168. The figure was misstated as 127 in the Sept. 28 list of the year first disclosed using carbon New York area’s largest accounting firms. With the correct number, the company’s pricing as part of its goal to reduce Lance Pierce is president of CDP North percentage change in the number of professionals compared with last year is -9.2%, factory emissions by 25% by 2020. America, a nonprofit group that works with and its proper ranking on the list is No. 23, rather than No. 24. Colgate purchases green power and companies to tackle climate change.

14 | CRAIN’S NEW YORK BUSINESS | OCTOBER 19, 2015 20151019-NEWS--0015-NAT-CCI-CN_-- 10/16/2015 3:40 PM Page 1

AGENDA VIEWPOINTS

No tears over health-insurer shutdown Plus: Rules for nail salons and taxi medallions trigger readers’ ire

Insurer destined to fail clients. They can get Medallion mess 78% of its loan port- Yorkers’ ability to get Had medallions Regarding “Small away with this Re “Overweighted in folio in an artificially from one place to been issued to meet groups squeezed” because we are a taxi loans, credit restricted commodity, another? demand, Uber would (Oct. 5), why are minority group. This unions face blood- in a business whose The only reason the not have taken hold. small businesses “in a isn’t just an issue over bath” (Sept. 7): So we assets are in the hands medallions grew in So blame the lobbyists pinch” for health a wage bond. This is need to bail out a of shady exploitation value was because who were successful insurance options discrimination and bank that makes a experts? their numbers were in restricting medal- owing to Health racism at its finest. stupid business deci- And we are supposed restricted for almost lions. Republic’s shutdown? BEAUTIFY ME NY sion to concentrate to restrict New 80 years. ICUDOC Had the insurer not been shut down by the state, its rates would have gone up by 14% to 20% in 2016 anyway. Most groups moved away from Oxford and Aetna because of their higher premiums, owing to larger provider networks. At a 20% increase, who would stick with Health Republic as opposed to going back to Oxford, or now CareConnect, with its low price point and market expansion in New York City? Downstate, there are definitely good alternatives for small businesses and individuals. The state did small groups and individuals a favor by shutting down this company. RICHARD VARNEY JR.

Nail salons and racism Re “Nail salons say they will sue Cuomo over wage bond, claiming discrimination” (CrainsNewYork .com), personal experience here: The state inspectors come in with their own rules and regulations. If they are in a pissy mood, the shop will be fined for every little thing. Some of the 2,500 violations are Sometimes life pulls you in unexpected directions. about employees wearing shorts. Yes, Our insurance plans help you read that right. Shorts, in summer. keep your business on track. Inspectors come in with an entourage. Finding health insurance to meet your employees’ needs as well as your bottom line can be complicated. Sometimes they bring We help make ﬁ nding the right plan simpler, while our broad Oxford Metro Network helps make getting care easier. someone from the Which is a healthy solution for everyone. Health Department, Police Department, IRS and the Labor Contact your broker visit uhc.com/metro Department. They NY-15-583 Premium rates, plan designs, and/or the new Metro network have been ﬁ led and are subject to approval interrogate employ- by regulators. Oxford HMO products are underwritten by Oxford Health Plans (NY), Inc. Oxford insurance products are underwritten by Oxford Health Insurance, Inc. ees, sometimes while they are taking care of

OCTOBER 19, 2015 | CRAIN’S NEW YORK BUSINESS | 15 20151019-NEWS--0016,0017-NAT-CCI-CN_-- 10/16/2015 2:50 PM Page 1

AGENDA THE LIST NY AREA’S LARGEST FOUNDATIONS

THE SCOOP TRENDS Endowment Empowerment TOP GIVERS Most foundations on the list are among the state’s top giving institutions. $600M Eleven of 15 foundations on the list grew last year On Crain’s list Other 500M he top 15 foundations on Crain’s list have grown 14.3% compared with last year, once again showing how the 400M fortunes of philanthropists are closely tied to the investment decisions they and their organizations make. 300M TThe largest increase came from the JPB Foundation, which moved up six slots to No. 8 on Crain’s list. The organization is the second large 200M foundation built off the wealth of Jeffry and Barbara Picower. The former Picower Foundation folded after the family was charged as the 100M largest beneficiary of the Bernie Madoff Ponzi scheme. After settling with the victims’ trustee for $7.2 billion, Barbara Picower resumed her 0 philanthropic activities through JPB. Compared with last year, JPB’s Source: The Grantmanship Center assets have increased to $3.3 billion from $1.1 billion. Altogether, 11 of the 15 foundations enjoyed asset growth. The Average national asset rank Foundation to Promote Open Society/Open Society Institute (No. 2), the of Crain’s top 15 foundations Leona M. and Harry B. Helmsley Charitable Trust (No. 4) and Bloomberg 35 Source: Foundation Center Philanthropies (No. 5) all expanded upward of 25%. The Starr Foundation (No. 13) also grew slightly (2.0%), but it’s still ON THE MARK NONPROFIT RICHES much smaller than it once was. It was founded by Cornelius Vander Starr, Four foundations surpassed the benchmark Assets from the top 15 foundations have who launched American International Group and financed his of spending 5% of assets. Atlantic risen by 32.9% since 2012, now topping philanthropy with AIG stock. When the international giant almost went Philanthropies, which plans to distribute all out at $59.5 billion. bankrupt in 2008, its stock plunged 93%, and the foundation was forced of its endowment by 2020, leads the pack. to reduce its grant-making and defer on many obligations. Now Starr is $60B more judicious with its giving. 30% $59.5B “I can’t see us doing $100 million to $150 million per year in outright 25 27.2% 50 $52.0B grants,” said Florence Davis, president of the Starr Foundation. “We’re 20 40 $44.8B not as big as we used to be, and so we’ve had to rethink.” 15 30 At the direction of its chairman, former AIG CEO Hank Greenberg, 10 5 20 the foundation has been looking to get more out of its giving by funding 5.6% 5.3% 5.0% 0 collaborations, especially in the increasingly capital-intensive field of Atlantic Foundation to Starr Alfred P. Sloan 10 Philanthropies Promote Open Foundation Foundation medical research. “We’ll pay for core facilities,” Davis said, “and Society/Open 0 2012 2013 2014 everyone has to play nicely in the sandbox with one another.” Society Institute – GERALD SCHIFMAN Source: Crain’s research Source: Crain’s research

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MAKING HER CONTRIBUTION: Rutenberg CEO Stefani Markowitz, 28, said she gives to more ‘serious’ MILLENNIALS | FUNDRAISING causes, rather than arts and culture.

THE YELLOWSTONE PARK FOUNDATION invited and works with it to help veterans find jobs in her several hundred 20- and 30-somethings to its first company. She also is a strong supporter of New York benefit for young patrons this month. Tickets to City Rescue Mission, which helps homeless people, support a “national treasure” cost $100—a relative and donates to Friends of the Israel Defense Forces. bargain for the opportunity to hobnob at the Bowery “The issues I give to are a bit more [serious] than Hotel. For the foundation, it was an investment in arts and culture, so they hit closer to home for me,” the future: building relationships with young Markowitz said. professionals who could one day become the A trend among millennial entrepreneurs has been philanthropic faces of the organization. to integrate charity work into their businesses as a Yellowstone Park is just the latest nonprofit way to burnish their brands. In its first effort at making its move on the so-called millennial reaching millennials, WhyHunger recently partnered generation, who at 86 million make up the largest with a young fashion company, Collection 18, that demographic group in the U.S. In the past few years, designed a scarf for the charity to sell at its fundraiser

New York’s charity circuit has been filled with last Thanksgiving. The two collaborated on a separate

benefits for young patrons on benefit, and causes ranging from the WhyHunger found Audubon Society to the We need to get these kids“ in with opportunities for Guggenheim Museum. employees at “It’s increasingly parties and then eventually get Collection 18 to competitive,” said Arielle them on the board volunteer. The efforts Patrick, a public-relations helped raise about executive and co-chair of the $50,000. Now the You n g, Yellowstone event. “We need to get these kids in with company is designing a product for the charity to sell. parties and then eventually get them on the board.” The majority of nonprofits founded by Nonprofits are scrambling to attract those born millennials deal with major issues like global between 1980 and 1995. Millennials are perceived as poverty, education and the environment. With their generous being more concerned with social issues than the slick websites and branding, they pose major “slacker” generation before them and, as architects competition to long-standing charities. Adam of the current dot-com boom, are wealthier, too. Braun, 31, founded Pencils of Promise in 2006 after They are coming of age professionally just as baby working as a consultant at Bain & Co. The nonprofit, & looking boomers retire, and their tastes and actions are set to which builds schools in the developing world, has dictate the future of philanthropy. To reach them, raised more than $28 million since its founding. Each charities are teaming up with trendy brands to school it builds costs only $25,000 and offers a create awareness; building volunteer programs to tangible way for donors to connect with the cause. for a cause bring underprivileged kids to cultural events and “There’s an expectation now that when you constructing houses in Africa, for example; and make a contribution, you can see the impact you are NONPROFITS MOVE IN delving into social media to connect with millennial having,” Braun said. ON MILLENNIALS IN donors. At the same time, established charities have To remain relevant, cultural groups must prove to contend with competition from nonprofits their worth. The Guggenheim Museum, for HOPES OF NABBING started by the millennials themselves. example, has expanded the reach of its Young THE NEXT GENERATION “[Cultivating] millennial donors has become a Collectors Council. Its members are invited to join OF PHILANTHROPISTS. strategic objective for us in the last year,” said Noreen the committee that meets twice a year to vote on the Springstead, executive director of Manhattan-based works of art the museum should buy for its BUT COMPETITION FOR WhyHunger, a 40-year-old advocacy nonprofit. “If collection. The number of Young Collectors Council THESE WOULD-BE we don’t get a new generation to grow with us, we’re members has jumped 52% in the past two years, to DO-GOODERS IS FIERCE going to have sustainability problems down the 374, Guggenheim executives said. road.” Lincoln Center for the Performing Arts, By Miriam Kreinin Souccar Yet enticing these new donors takes a lot of work. meanwhile, started a group eight years ago for They aren’t interested in philanthropy as a way patrons in their 30s. It now has 300 members to HELPING HAND to climb the social ladder; they want to change whom it offers special performances and events. In the world. Young donors expect the charities the past year, Lincoln Center has offered more of millennial they support to run like businesses, and they volunteer opportunities for these members, such as % employees donated like to see sophisticated, timely reports on how helping out at performances for underprivileged 84 to charity in 2014 a charity is functioning and where their dollars children.“Young patrons are very concerned about of millennials % donated via are going. the impact of what they are doing, and we’re trying 62 mobile phone “The millennials expect engagement from to address that,” said Kristel Kempin, manager of their charities, like how we are going to individual giving at Lincoln Center. want to see collaborate together to create Despite efforts from nonprofits to attract these % the impact of something new,” Springstead said. “Our donors for the long haul, they are dealing with a 57 their giving older donors are more like, fickle cohort. Observers say millennials jump on a ‘I’ll write you a check and project or fundraiser to help out because a friend is % get a tax receipt for it.’ ” involved and later move on to another cause. 53 Stefani Markowitz, 28, Doug Messer, 22, the co-founder of technology % give through chief executive of company University Beyond, has hosted fundraisers 50 a retail share info about purchase Rutenberg, a Manhattan- for Operation Smile, raised money for the Maria charity on based real estate company Fareri Children’s Hospital in Westchester and Facebook SOURCE: Blackbaud, with more than 615 agents, volunteered for a trendy new charity, F**k Cancer. 2015 Millennial is a budding philanthropist, Though he would like to join a board in the future, Impact Report though she won’t disclose he’s content to dabble among an array of groups. how much she gives. Her “There are so many initiatives out there,” he said. top charities don’t include the arts, however. She “It’s nice to touch several different causes than

BUCK ENNIS funds veterans’ assistance group Wounded Warriors, be hyperfocused on one.” Ⅲ

OCTOBER 19, 2015 | CRAIN’S NEW YORK BUSINESS | 19 20151019-NEWS--0020,0021-NAT-CCI-CN_-- 10/16/2015 3:58 PM Page 1

BABY BUCKS |SMALL BUSINESS THE BOOM IN BOUTIQUE BIRTHING Purpose and profit combine as a growing number of independent practitioners and retailers serve mothers looking for another way By Samantha M. Shapiro

rooklyn midwife Miriam Schwarzschild logs about 1,200 will. “I was fine, the baby was fine; there was no reason other than they miles a month in her bumper-stickered Prius. Crisscrossing didn’t want to wait around,” she remembered. “I was crying so hard I the city, she visits pregnant clients in their homes for prenatal couldn’t read the consent form.” exams and, four or five times a month, helps one give birth, Soon after the procedure, Crutchlow’s incision became infected. She and usually in an inflatable birth pool or on a bed lined with her husband had to pay for a nurse to come to their house and dress the absorbent pads. wound, which eventually abscessed and required additional surgery. On a Wednesday morning in August, Schwarzschild— The next time she became pregnant, Crutchlow knew she wanted to avoid dressed in jeans, a blue T-shirt and thick black glasses—set the hospital. Although her first doctor had said she would likely never be able Bout from her Park Slope brownstone for a prenatal checkup at the edge of East to give birth vaginally, Crutchlow wanted to attempt a vaginal birth after a C- Harlem. Schwarzschild was licensed as a certified nurse midwife in 1989 and section. Options for women who want a VBAC are limited. Because of a small delivered babies in hospitals for a few years, but she always planned to be a but very serious risk that a scarred uterus can rupture during labor, many home-birth midwife. “I felt like this has to be an option,” Schwarzschild American obstetricians simply refuse to do them—or place many restrictions said, as her orange hybrid on women who try. bumped its way up the FDR. “I had no confidence at all “It has to be safe.” “I HAD NO CONFIDENCE ATALLTHATIF I that if I went to a hospital Schwarzschild arrived at anywhere in New York City the appointment ahead of WENTTO A HOSPITALANYWHERE IN NEW that I would succeed, even schedule. After parking her YORK CITYTHATI WOULD SUCCEED, EVEN with a VBAC-friendly pro- car, she retrieved a duffel of vider,” Crutchlow said. So she supplies from her trunk and WITH AVBAC-FRIENDLYPROVIDER” traveled to The Farm, a headed up four flights of stairs commune in Tennessee that is to see Jenny Crutchlow, a 43- considered the epicenter of year-old opera singer/executive recruiter who was eight months’ pregnant the home-birth movement. It is where Ina May Gaskin, a famous midwife, with her third child. practices. Crutchlow had delivered her first child in a New York City hospital, an Crutchlow and her family lived in Tennessee for six weeks before the experience she describes as “horrific and traumatic.” birth. Again, her pregnancy lasted longer than 40 weeks, and again the In that pregnancy, Crutchlow went past her due date, and doctors told her practitioners—this time, the midwives at The Farm—insisted that she induce she would be risking her son’s life if she waited to go into labor naturally. She using natural methods or go to the local hospital. Under duress, Crutchlow finally agreed to an induction at 42 weeks, but 36 hours into labor, 10 took castor oil, which put her into labor. She delivered her son vaginally. centimeters dilated and pushing, she was told that the hospital had a two- At her prenatal exam with Schwarzschild this past August, the women hour limit on pushing. talked as Crutchlow’s sons played with Legos, and her husband offered tea. So, after two hours and 22 minutes, with her baby’s head crowning, They discussed Crutchlow’s job, her plans for leave and the allergen-free

BUCK ENNIS Crutchlow said, she was sent for a cesarean section, very much against her CONTINUED ON PAGE 22

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OCTOBER 19, 2015 | CRAIN’S NEW YORK BUSINESS | 21 20151019-NEWS--0022,0023-NAT-CCI-CN_-- 10/16/2015 4:12 PM Page 1

BABY BUCKS |SMALL BUSINESS

cupcakes she was going to make so her second son could celebrate the upcoming birth. Have you been on a scale recently?” the midwife asked. “I think it was 149,” Crutchlow reported. Schwarzschild entered the information into an app chart on her iPhone, then took a fetal Doppler, which is used to listen to the baby’s heart, from her bag. Crutchlow reclined on the sofa while Schwarzschild examined her belly. “This is not a big baby—not even 6 pounds yet,” the midwife said, pressing a bit. “I think I feel a hand down here. So cute!” Crutchlow’s previous babies had been posterior, a more difficult position for childbirth, so she asked about finding someone trained to use a rebozo, a long cloth that can be used to manipulate the baby’s position in utero to facilitate easy labor. The technique had successfully rotated her second son from the posterior position when she was in labor at The Farm. The visit lasted an hour—about five times as long “I have no business as a typical OB checkup—and covered many issues plan,” said MIRIAM that would never be raised in a more institutional SCHWARZSCHILD, attending to a client. setting. In some parts of the country—Montana, for “My mission is to serve instance—women may decide to give birth at home the community.” because they have a three-hour drive to the closest hospital. But in dense, urban centers like New decade and expanded at an even faster pace in $5,000 and $11,000 for each of the handful of births York, women who choose home birth are going out New York state. they attend each month. The midwives are part of of their way to avoid the hospital because they are an ecosystem that includes hundreds of local looking for the chance to give birth on their own practitioners, consultants, educators, retailers and terms, with no constraints on movement, eating HARD STATISTICS ARE DIFFICULT TO COME BY, but it’s other small-business operators, ranging from the and drinking, or duration of labor. safe to say that what might be called the boutique mostly familiar (lactation consultants, doulas) to Home-birth midwives don’t carry malpractice birthing business is growing in New York City. the fairly obscure (rebozo practitioners, insurance, so most insurers do not cover them. As When Schwarzschild began attending home preconception mother-child bonding experts and a result, many women pay some costs out of births, in 1992, there was only one other home- preparers of placentas for maternal consumption). pocket. Birth supplies and, often, a doula—who birth midwife delivering babies in the city; today, Together, these businesses make up a unique supports the mother—can add an additional $1,000 there are at least 22. sector of the economy, with estimated revenue to $3,000 to the tab. Nonetheless, the rate of home They meet every six weeks to review cases and between $5 million and $10 million annually. births has increased by 50% nationally in the past discuss billing issues; they typically earn between On the one hand, the sector’s growth is fueled in part by those at the top of the socioeconomic ladder—that is, consumers who can afford the often-pricey services and products not covered COMING TO TERM by insurance. On the other, many of those who A glossary of some of the practitioners provide such services are motivated by ideology and practices in the birthing world: more than economics, and they adjust their fees to accommodate others who share their DOULA: Birthing assistant who offers emotional and physical worldview. support to women before, during and sometimes after labor. Schwarzschild, for example, is one the most Doula use has been shown to reduce the need for C-sections and experienced home-birth midwives in the city and shorten the duration of labor. has her pick of expectant mothers. She doesn’t travel to the Bronx or to Staten Island, nor does LACTATION CONSULTANT: Breast-feeding specialist who she take on a woman with whom she doesn’t assists mothers and babies in learning to latch and suck, and click. who can address medical issues that interfere, such as infant tongue-tie. Certified Lactation But she accepts payment in monthly $50 Consultants undergo a 45-hour certification program, while International Board Certified money orders from one client and is the rare Lactation Consultants complete at least 90 hours of education and 1,000 clinical hours. home-birth midwife who will take a client who MAYAN ABDOMINAL MASSAGE: Technique focused on the pelvic organs that is said to wants a VBAC. Although she makes a nice living improve fertility, realign the uterus and, for men, alleviate prostate problems and as a midwife, her approach is more akin to that of premature ejaculation. When performed on women, it may include a vaginal steam bath. a community organizer than a small-business owner. “I have no business plan,” Schwarzschild MIDWIFE: Provider specializing in childbirth and women’s health care. In the U.S., certified said. “My mission is to serve the community.” nurse midwives have a nursing degree, and certified midwives acquire the skill set through Like midwives, doulas are on call 24 hours a apprenticeship and independent courses of study. CNMs may deliver babies in a hospital, if they day and rarely come to the profession with a have privileges, or at home. CMs are not authorized to practice in all states and may not deliver small-business orientation. That combination in a hospital. leads to a high burnout rate. The Metro Doulas Group, a listserv for city- PLACENTA PREPARER: Someone trained in the preparation of the placenta for maternal based doulas, has 275 working members in its consumption, either by dehydrating the organ and encapsulating it into pills or making it into database—a surprising number, given that Birth food such as smoothies or truffles. Day Presence, which offers childbirth education and doula services at its locations in SoHo and PRENATAL PSYCHOLOGY: Study of the psychology of conception, pregnancy, labor, delivery Park Slope, trains 100 doulas annually. Some and the unborn child’s emotional development. “Bonding repair” specialists may counsel a women who go through the training program use mother to work through her feelings during pregnancy or birth, or encourage a couple struggling their new knowledge solely to augment another with infertility to make love on the night their doctor implants the embryo. birth-related business, such as acupuncture, but many more wear out. REBOZO: A long cloth, used by women in Mexico for a variety of purposes, that is now used by “There’s a short life for a doula,”said Jennifer some birth practitioners to “sift,” or relax, the abdomen during pregnancy to get the baby into a Mayer, 32, who has been transitioning into other better position. areas to minimize the toll the work takes on her

TOP RIGHT BUCK PHOTO: ENNIS, ISTOCK BOTTOM life. “Many doulas don’t realize how much small-

22 | CRAIN’S NEW YORK BUSINESS | OCTOBER 19, 2015 20151019-NEWS--0022,0023-NAT-CCI-CN_-- 10/16/2015 3:55 PM Page 2

business knowledge you need. They’re really obstetric care, which occurred gradually in the of a trusted friend or relative during labor and the passionate about attending women in labor but last century, added interventions that generally postpartum period was also lost. Most hospital have no interest in running a business and just made birth safer for high-risk women but more labor and delivery nurses attend to several can’t pay the bills. Plus, it can be hard on difficult for many low-risk mothers. In the 1950s, patients at once while also dealing with a variety relationships.” for instance, all first-time mothers were subject to of bureaucratic tasks. Doulas’ income varies widely, and only a small the use of forceps during delivery. The widespread use of formula, meanwhile, subset make their living on it. Some 40% of 112 And today, more than a third of American babies interrupted the mother-to-daughter transmission doulas surveyed in New York City in 2014 by the are born via surgery—a rate even obstetricians’ of basic breast-feeding skills; many women have nonprofit advisory group Choices in Childbirth groups acknowledge is too high—while the majority never seen a baby breast-feed before they attempt it reported making less than $1,000 a month, while a of U.S. births involve the use of epidural anesthesia for the first time. small percentage made more than $10,000 a month. or the labor-inducing drug Pitocin. Studies show In a highly mobile society, where most women Doula fees range from $500 to $10,000 and that the use of such interventions is a significant live apart from their extended families, the need depend on experience and on what residents of a concern to American women. for a postpartum support network is great. Many given neighborhood can pay. Rochel doulas emphasize the after-birth Vail is one of the city’s most period: sitting with new moms, experienced doulas, having attended MANY OFTHOSE WHO providing a calming presence and 3,000 births during the past 30 years. helping with housework—in short, (She achieved some fame for PROVIDE SUCH SERVICES ARE the role a sister would have played delivering a baby—unintentionally— MOTIVATED BY IDEOLOGY MORE THAN 100 years ago. in a New York State Thruway rest- The movement to medicalize birth stop bathroom.) ECONOMICS,AND THEYADJUSTTHEIR was led partly by urban middle-class “I was a doula before it became the FEES TO ACCOMMODATE OTHERS WHO women associated with the early ‘in’ thing 10 years ago,” she said. But feminist movement, who thought Vail charges only $500 to $1,000 SHARE THEIR WORLDVIEW the freedom from pain promised by because she works in the religious anesthesia would be empowering. Jewish community of Crown Heights, Today, much of the effort to return to Brooklyn, where the parents of large families cannot But several factors—the insurance industry’s less-interventionist births, as well as the afford $3,500 for a birth attendant. “I know I can practice of compensating obstetricians per folkways and traditions of new-mom support, is make more,” she said, “but I would rather work intervention, the growing pressures on being led by the same class of women, who have with my [mothers].” physicians to carry a high volume of patients, the the means to pay the costs of outside-the-hospital To be sure, some service providers evince a more fear of lawsuits should births go badly—have care and are driven by a vision of birth as bottom-line orientation. But most are driven in part combined to dissuade hospitals and medical empowering. by a desire to fix what they see as flaws in American practices from taking a wait-and-see approach to It’s no surprise, then, that the boutique maternity and postpartum care. healthy labors. birthing business is thriving in the Big Apple. In Whatever one’s view of this state of affairs—a 2013, New York City had its lowest birthrate since subject that regularly leads to flame wars on social the Great Depression: 14.3 per 1,000 people. Still, FOR MOST OF U.S. HISTORY, childbirth took place at media—the medicalization of birth has had more babies were born in the city—more than home, attended by midwives, with support from undeniable ripple effects. 120,000—than were delivered in 41 states (and relatives and friends. The move to in-hospital When birth left the home, the constant support CONTINUED ON PAGE 24 Wednesdays at 8pm ABSOLUTE AUCTION Profiles of Entrepreneurs in the 5 boroughs

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license professional lactation consultants. More recently there has been a movement to create standards around eating placenta, an ancient custom back in favor because anecdotal evidence suggests it can improve postpartum mood and breast-milk production. In 2011, the Association of Placenta Preparation Arts began to offer a voluntary six-month certification that requires members to learn basic food-prep safety and blood-borne pathogen guidelines before they can make their placenta truffles, smoothies or pills. JADA SHAPIRO (right) New York City also offers its own license said the success of Birth through the independent Childbirth Education Day Presence stems Association. Although most hospitals offer a from being the first group in the field to plethora of classes, thousands of women in the move toward city choose instead to study with the 23 educators professionalization and certified by the CEA, not to mention those trained away from ideology. in the hypnobirthing, Lamaze and Bradley methods. Costs for such classes typically run some countries). editor of New York Family Magazine, which about $400 for a five-class series, plus books. The neighborhoods experiencing higher sponsors the baby show, “New York City has There are also parent groups that drill down to birthrates are also, in general, the most affluent: enough parents who want the best for their baby— specific 10-block radii to help new moms connect TriBeCa, the Upper East Side and Brooklyn and can afford it.” to each other. Park Slope Parents, Hudson Yards Heights. (The major exceptions are those areas One thing these parents want is a kind of care Mamas and Bowery Babes all charge an annual with large populations of ultra-Orthodox Jews, not found in the current hospital-based approach membership fee of less than $100 to let moms whose birthrate of 29 per 1,000 is the city’s to birth. convene by birth month. highest.) “If women could get the level of care they The largest and most lucrative of these village- That subset of Big Apple parents are evidently want,” said Michele Giordano, executive director building businesses is run by Renee Sullivan, who willing to pay $3,500 for a deluxe maternity photo of Choices in Childbirth, “we would see fewer once worked at a branding and printing company. shoot or about $2,000 a night to have a businesses trying to fill those gaps.” Since 2008, though, she has run the Moms Groups, professional sleep trainer stay overnight and In the past 20 to 30 years, an industry has charging women $200 to participate in five small- listen to their newborn wail piteously as part of quietly grown around the professionalization of cluster sessions with other mothers in the same the “cry-it-out method.” City parents support more-traditional forms of support. A doula- life stage. “Our motto is ‘You bring the baby, we the country’s largest baby expo—the New York licensing group, Chicago-based DONA will bring the village to you’—so you have the Baby Show, which takes place over a weekend in International, first certified birth attendants in strength to get through all the changes,” she said. May each year at Pier 92 in Manhattan—as well as 1992, more than a decade after the International Sullivan said her business benefits from the age five other trade shows. Explained Eric Messinger, Board of Lactation Consultant Examiners began to of anxious Internet parenting. “Now anyone can

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CRAIN’S® N E W YORK BUSIN ESS

VOL. XXXI, NO. 1 WWW.CRAINSNEWYORK.COM JANUARY 5-11, 2015 OPINION

CRAIN’S® Expand the FrickN E W YORK museum BUSIN ESS VOL. XXXI, NO. 1 WWW.CRAINSNEWYORK.COM JANUARY 5-11, 2015

mong the many things hang their coats and use the bathrooms. expansion plan the Frick envisioned all that make New York City Modern wheelchairs cannot fit through those years ago. great areOPINION its museums. the doors. The museum’s thoughtfully updated More than 100 of them, Decades ago, museum officials and designed proposal, which requires each with its own bought and demolished three adjacent both a zoning exception and landmarks Acharacter, enhance the quality of life for buildings to expand their Fifth Avenue commission approval, is to replace the residents and keep tourism dollars institution and connect it to the Frick private garden with a public one on the flowing into locals’ pockets.ExpandArt Reference theLibrary. They couldn’tFrickroof of a new addition.museum The neighbors’ Among the many things that make afford to do the project then, so they kvetching, boiled down, is that they will the city infuriating are its kvetchers. created a splendid private garden on the lose their view of a closed garden. We These are the folks who react to side with the other 8.3 million New mong the many things hang their coats and use the bathrooms. expansion plan the Frick envisioned all change by asking, “What’s in it for Yorkers and 55 million tourists who that makeThe New Yorkpublic City Modern wheelchairs cannot fit through those years ago. me?” They bemoan any idea that would get a garden they can visit—and CRAIN’S® great are its museums. the doors. The museum’s thoughtfully updated might inconvenience them. benefits offset a vastly superior “house museum” NEW YORK BUSINESS More than 100 of them, Decades ago, museum officials and designed proposal, which requires Which brings us to the Frick experience, too. each withthe itslost own viewsbought of and demolished three adjacent both a zoning exception and landmarks VOL. XXIX, NO. 39 WWW.CRAINSNEWYORK.COM SEPTEMBER 30, 2013 Collection, the magnificent little art The Frick could build on its property character, enhance the quality of life for buildings to expand their Fifth Avenue commission approval, is to replace the museum housed Ain the former a privileged few without a zoning action, but the current residents and keep tourism dollars institution and connect it to the Frick private garden with a public one on the residence of Gilded Age industrialist rules demand a tall, thin building that’s NY Area’s Largest Accounting Firms flowing into locals’ pockets. Art Reference Library. They couldn’t roof of a new addition. The neighbors’ Henry Clay Frick. hardly ideal for a museum. Of course, if Ranked by number of area professionals $ Among the many things that make afford to do the project then, so they kvetching, boiled down, is that they will #$$ $ & # A longtime fixture of the city’s the Frick had proposed such a tower, ! # % $& ' & ! !! the city infuriating are its kvetchers. created a splendid private garden on the lose their view of a closed garden. We " ! ! ! " " Museum Mile, the Frick has seen its expansion site in the interim. neighbors would have griped about that ( B190'9 %&@E341B " ! ! "! / 6GPUd`Y$gQ hhhahII`X + + !+ These are the folks who react to side with the other 8.3 million New 7QhE`cV7E attendance rise nearly 40% since the Neighbors of the museum, suddenly as well. They want the garden, and )*+, -.*/ ")@DD%'7750'H " ! / change by asking, “What’s in it for Yorkers and 55 million tourists who AUXQd@bfGcQ hhhQpI`X 5)4'179C1BB' !+ "+ + mid-1990s but lacks the space to show blessed with a view of aThe garden public rather everything else, to stay the way it is. 7QhE`cV7E me?” They bemoan any idea that would get a garden they can visit—and !" !@(1BD %'BB1DD " ! / much of its collection of Old Master than the sides of buildings, came to “It’s a beautiful garden,” a museum 8GcV$gQ hhhVaXSI`Xfd + "+ + benefits offset 7QhE`cV7E might inconvenience them. a vastly superior “house museum” 01-2,,0 " 19BH 45775AC ! ! YP / paintings, European sculpture and treasure the green space, although (or official admits. “We built it.” 9ÌVQRQWWQc8WGqG hhhPQWÙeeQI`X + YP ! + Which brings us to the Frick experience, too. 7QhE`cV7E decorative arts. Its concert series and perhaps because) it wasthe closed lost to the viewsAnd of now it’s Exhibit A in a classic 2+*0)340) ""! 4'B71C%159CD159 /" Collection, the magnificent little art The Frick could build on its property ATUcP$gQ hhhQUdYQcGXaQcI`X @G'B0@419 + + "+ student programs cannot meet the public. You can tell where this is going: lesson of New York City land use: No 7QhE`cV7E -5*06*278 " "D1F19'H1B ! " " /!! museum housed in the former a privileged few without a zoning action, but the current @UieT$gQ hhhI`TYcQqYUIVI`X + + + demand. Patrons wait in lines just to Some neighbors now object to the good deed goes unpunished. 7QhE`cV7E residence of Gilded Age industrialist rules demand a tall, thin building that’s )*, 5-)*,-* "" B'96EBB1 YP ATUcP$gQ hhhScGYeeT`cYe`YI`X + + YP Henry Clay Frick. hardly ideal for a museum. Of course, if 7QhE`cV7E )7.3 ! 122B1H%%1591B / ATUcP$gQ hhhXGcIfXWWaI`X + "+ + A longtime fixture of the city’s the Frick had proposed such a tower, 7QhE`cV7E 719)0: &@9'70F%5A'B5 " ! /! Museum Mile, the Frick has seen its expansion site in the interim. neighbors would have griped about that !@UieT$gQ hhhXISWGPcQpI`X + + + Reprinted with permission from the Crain's New York Business. © 2015 Crain Communications Inc. All Rights reserved. 7QhE`cV7E Further duplication without permission is prohibited. Visit www.crainsnewyork.com. #NB15004 !!! B5'9))71CD@9 " " / attendance rise nearly 40% since the Neighbors of the museum, suddenly as well. They want the garden, and 8GcV$gQ hhhHPÌ`X !'90H")4G'BDI8'9 + !+ "+ 7QhE`cV7E mid-1990s but lacks the space to show blessed with a view of a garden rather everything else, to stay the way it is. -,5+,02* ++ "" "D1F19'CC ! " /" @UieT$gQ hhhcVIÌ`X #4@8'CF93177 + + + much of its collection of Old Master than the sides of buildings, came to “It’s a beautiful garden,” a museum 7QhE`cV7E" 02+0)6)+ ! &@E37'CF% 45775AC " / DeT@e hhhhQUdQcXGqGcdI`X + + + paintings, European sculpture and treasure the green space, although (or official admits. “We built it.” 7QhE`cV7E -**-) ;20+ ! 1F59%1'91 ! /!! decorative arts. Its concert series and perhaps because) it was closed to the And now it’s Exhibit A in a classic )UReT$gQ hhh`PaVRI`X + + !+ 7QhE`cV7E student programs cannot meet the public. You can tell where this is going: lesson of New York City land use: No 2,)2* --40)3* - " @17F%@@A1B8'9 ! " / ")UReT$gQ hhhIUecUYI`àQcXGYI`X + + + 7QhE`cV7E demand. Patrons wait in lines just to Some neighbors now object to the good deed goes unpunished. 0)9-* ! 'B6%@CCG5)6 " /" 6GPUd`Y$gQ hhhHQcP`YWWaI`X "DE'BD%@D71B + + + 7QhE`cV7E )8+ *0,5 5)-* !! 'BBH@14B5931B " /! !ATUcP$gQ hhhXGcVdaGYQeTI`X 'B61F192EC + + !+ 7QhE`cV7E *752* 1-78 *752* ! B'96F%")41DD59@ " " /! %c`GPhGp hhhGYITUYI`X "+ "+ "+ Reprinted with permission from the Crain's New York Business. © 2015 Crain Communications Inc. All Rights reserved. 7QhE`cV7E! )++2 - @E5C%B'CC5 " " " /" Further duplication without permission is prohibited. Visit www.crainsnewyork.com. #NB15004 !!6GPUd`Y$gQ hhhScGddUIaGdI`X + + + 7QhE`cV7E !)2093* ! BE)1F%'095)6 ! /"! %c`GPhGp hhhRcUQPXGYWWaI`X + + + 7QhE`cV7E" )-(0 "-)(,5 &'F5052C@9 ! /! !!6GPUd`Y$gQ hhhIc`hQT`chGeTI`X %190H'8' "+ + !+ 7QhE`cV7E

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24 | CRAIN’S NEW YORK BUSINESS | OCTOBER 19, 2015 20151019-NEWS--0024,0025-NAT-CCI-CN_-- 10/16/2015 3:55 PM Page 2

BABY BUCKS |SMALL BUSINESS

post anything anywhere,” she said. “There are too Gala Chair many choices, and moms are 500% more anxious Lauren LeBlanc than they were even three years ago.” In a Executive Director landscape with hundreds of stroller brands and Michael Cogswell dozens of approaches to baby sleep, Sullivan said, Gala Committee the need for “curated” information delivered in small, trust-based groups has grown dramatically. Philip Berry Carol Conslato These wide-ranging “sectors” interconnect in Jay Hershenson a kind of virtuous circle, a self-sustaining supply- Stephen Maitland-Lewis demand dynamic. Birth educators invariably Jennifer Walden Weprin suggest to students that they hire a doula or Board of Trustees lactation consultant. A lactation consultant, in Jerome Chazen turn, is likely to send a client to a breast-feeding Michael Cogswell store, such as Upper Breast Side in Manhattan. Stanley Crouch Randy Fertel Wednesday, December 2 Jay Hershenson Capitale • NYC • 6pm Lauren LeBlanc Stephen Maitland-Lewis FACTS Honoring David Ostwald, Esq. Dr. Félix Matos Rodríguez Jerome Chazen Jeffrey Rosenstock Chairman, Advisory Board Chazen Capital Partners George Avakian $5M-$10M Dr. John Jack Bradley Musical Icon Patricio Canela ESTIMATED COMBINED ANNUAL REVENUE Cyril Neville Donna Coles among independent birth-related Melania Fernandez Legendary Musician & Activist practitioners and retailers in NYC Hon. Julissa Ferreras Robert F. Smith Jimmy Heath Founder, Chairman & CEO Andrew Jackson of Vista Equity Partners Beverly Johnson Hon. Melinda Katz Special musical Wynton Marsalis performance Hon. Francisco Moya 120K+ by Cyril Neville’s Hon. José Peralta BABIES BORN in the five boroughs in 2013* Royal Southern Giovanna Reid Brotherhood George Wein Jorge Yafar

RSVP by November 18, 2015 to Eve Wolff at 718.478.8274 x103 #WonderfulWorld or email [email protected] 275-400 LouisArmstrongHouse.org WORKING DOULAS in the city 22 HOME-BIRTH MIDWIVES, up from one in 1992 Sources: Crain's estimate, NYC Dept. of Health and Mental Hygiene, Choices in Childbirth, industry experts *Last year for which data are available

A mother who learns the benefits of extended breast-feeding will often need nursing-friendly clothes or a stylish breast-pump bag—with room for work items, too—from the New York-based Nurse Purse ($129).

IN THE PAST YEAR, a for-profit chain called Baby+Company has built birth centers in five U.S. cities that combine product sales and educational classes with service providers such as doulas, lactation consultants and midwives who offer unmedicated delivery in a “spa-like environment.” The company has worked out agreements with local SERVING YOU TO SERVE OTHERS; insurers that in effect allow Baby+Company staff to AT THE PLAZA AND MEMORABLE SPACES IN NEW YORK get paid for not intervening. Baby+Company has an eye on New York City but no plans to expand here yet. Currently, the city has only one free-standing birth center—in Brooklyn—although obstetrician Lisa Eng expects to open a second in Bay Ridge within the year. (There’s also a natural-birth center at Mount Sinai Roosevelt, and plans afoot to open one at New York-Presbyterian/Lower Manhattan Hospital.) theplazany.com | @plazaparties greatperformances.com | @gpfood In New York, the suite of services provided by Baby+Company is spread out among freelance entrepreneurs, some of whom work in collectives, For good advice and event planning contact [email protected] or [email protected] such as Carriage House in Williamsburg and Stork CONTINUED ON PAGE 26

OCTOBER 19, 2015 | CRAIN’S NEW YORK BUSINESS | 25 20151019-NEWS--0026-NAT-CCI-CN_-- 10/16/2015 3:57 PM Page 1

BABY BUCKS |SMALL BUSINESS THE INDEPENDENT and Cradle on Staten Island. MATERNITYSTORES Birth Day Presence—which 38-year-old former dancer Jada Shapiro (no relation to the author) THATARE SURVIVING founded in 2002—is the oldest birth-related collective HAVE DOUBLED DOWN in the city. “It was very casual in the beginning,” she said. “Just me and a friend.” But Shapiro, a single ON THE VILLAGE mom, knows she needs to the pay the bills. APPROACH, OFFERING Today, Birth Day Presence is a structured business that generates $500,000 a year from two EVEN WIDER SUPPORT locations in SoHo and Park Slope, as well as classes in FOR NEW MOTHERS CHOICES IN CHILDBIRTH’S a half-dozen satellite locations. Shapiro—who has Michele Giordano said independent attended numerous celebrity births and has the practitioners are filling gaps in the lifetime nondisclosure agreements to prove it— hospital birthing system. considers herself a “birth activist,” but says part of her company’s success stems from being the first shoppers asked her for advice on pregnancy- and The Greenpoint location sells a $400 “mama group in the field to move toward professionalization parenting-related issues as well. So she started a coat” and unique woven wraps from Germany and away from ideology. concierge business that pairs women with the that a mother can use to “wear” the baby on her “I have a lot to say about how birth goes down in right experts. (It was documented for three body for $100 less. But it also offers free meet-ups, our country,” Shapiro said. “But I know we have to seasons on a Bravo reality show called Pregnant in classes, a nursing lounge and access to staff meet our mothers where they are, and we cannot be Heels.) And when Pope realized that the costs trained to adjust your baby carrier. in the business of proving how we think birth should associated with her clothes were too high, she Over chia-seed pudding, Stare explained, “It’s be. We will not judge them if they want an epidural.” refocused. not a sales environment where we will only help Shapiro, who said she is developing a product that These days, she talks about her stores as more you if you bought your carrier in our store. It’s will speed labor progression, recently unveiled a of a “community.” Like Birth Day Presence, she beyond retail. People come to meet with a venture called “Breast Start,” through which moms partners with midwives and lactation consultants lactation consultant or for a La Leche meeting or can request a lactation consultant by text. to offer classes on premises. She now has a second to sit in our back room and nurse for the first time city location, on the Upper East Side, and one in in public—we get a lot of that. Sometimes they Santa Monica, Calif. come because they just want to meet another AS IN MANY BUSINESS SECTORS, the Internet has also Pope also launched baby bedding, baby shoes mom or ask a question about teething or just to cry proved to be a business killer for independent and nursing clothes lines to be sold by Lord & to someone.” maternity stores in New York, and the shops that Taylor and Nordstrom. And she works with Stare also sees her job as a “concierge,” are surviving have doubled down on the village companies such as the Gap and Stride Rite to offer matching people with resources. “Our business is approach, offering even wider support for new “Mommy IQs,” empowering video tidbits on expanding,” she said, “because we are tapped into mothers. Twitter, Instagram and Stride Rite’s website that, a thing people need: support. A lot of people have In the past year, four of the oldest independent she said, “don’t make you feel crappy about nowhere to go to ask questions, and their maternity stores in the city have closed. Sasadi yourself.” She also has published a Mommy IQs extended families are not around them.” Odunsi owned one of those stores: Bump, a high- handbook. “There has to be a reason to go to a store Stare said that offering education and being end maternity boutique near Barclays Center in these days,” Pope said. “Stores have to be a place nice to people—customers or not—can have a Brooklyn. for people to gather.” direct impact on the bottom line. “When people “When we opened eight years ago, online was Meanwhile, the retail space vacated by Bump is become more informed and learn about different not an option,” she explained. “And as recently as being eagerly filled by another baby-and-mom practices—like baby “wearing” or other ways to three years ago, you could not get any of the high- store called Wild Was Mama. Its owner, Adriane enhance mother-child attachment and health,” end European brands without going to Europe. Now Stare, is looking to expand her lucrative business. she said, “they may find they need a product we you can get anything on Amazon.” Odunsi noted Wild Was Mama’s first location is in Greenpoint, carry. Suddenly they don’t just want to go to the that fashion-forward blogs now focus on getting Brooklyn. drugstore for Vaseline to put on their baby’s butt. through pregnancy without maternity clothes. On a recent Tuesday, Stare sat at a vegan café More education means more business for us.” That also hurt her business. two doors down from her new space while her When Rosie Pope, a British former model, husband talked to contractors and watched their opened a boutique in SoHo in 2008 selling her kids. Stare said she views Wild not as a retail store AT 40 WEEKS, Crutchlow was referred by handmade maternity clothes, she noticed that but as “a little village in the middle of Brooklyn Schwarzschild to a Mayan-abdominal-massage expert to help get the baby into a good position. Crutchlow mentioned to her that rebozo-sifting at The Farm had helped her second son change positions, and the therapist returned a few days later with her rebozo cloth. That night, Crutchlow went into labor on her own, six days past her due date—early for her. She called Schwarzschild when the contractions were three to five minutes apart. “Are you sure they are that close together?” asked Schwarzschild, who was busy with a birth on Long Island. After timing one over the phone, the midwife sped to Crutchlow’s apartment. “The parking gods and traffic gods were with her,” Crutchlow said later. Kaitlyn Rose Marie Crutchlow was born an hour after Schwarzschild arrived, in the birth pool, with her big brothers looking on. “Miriam grabbed my arms, which were draped over the side of the pool, and shoved them in the water,” Crutchlow remembered. “I looked down and the baby was floating in front of me. I picked her up and put her on my chest. I was the first to hold her. And I got to announce the gender to everyone. It was a great, great experience.” WILD WAS MAMA owner Adriane She ended up baking an allergen-free cake Stare (left) is opening a second instead of cupcakes: chocolate with pink icing for Brooklyn shop after successfully the family of five. Mom and Dad washed it down Ⅲ BUCK ENNIS launching her first, in Greenpoint. with Champagne.

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Purpose: Any productivity and privacy address of the LLC is: 202 ELIZABETH lawful activity. • Text messaging STREET, SUITE 28, NEW YORK, NY Notice of Qualification of Kinch • Doubles channel call capacity for Advertising, LLC. Authority filed with the price of one license 10012 Purpose: any lawful act or activity. Secy. of State of NY (SSNY) on NOTICE OF FORMATION OF 40 X *$100 TRADE-IN PER RADIO 09/17/15. Office location: NY County. LLC NORTHWIND LLC. Arts of Org filed Call to learn more or to with Secy of State of NY (SSNY) on schedule a professional, formed in Delaware (DE) on 09/11/15. 9/11/15. Office location: NY County. no-obligation survey or Notice of Qual. of 116 University SSNY designated as agent of LLC upon on-site demo. SSNY designated agent upon whom Development, LLC, Auth. filed Sec’y of whom process against it may be served. process may be served and shall State (SSNY) 7/1/15. Office loc: NY Co. SSNY shall mail process to: 637 Elm mail copy of process against LLC to LLC org. in DE 5/5/15. SSNY desig. as St., Westfield, NJ 07090. Address to principal business address: 66 Pearl agent of LLC upon whom proc. against it be maintained in DE: National Registered St. STE 405, NY NY 10004. Purpose: may be served. SSNY shall mail copy of Agents, Inc., 160 Greentree Dr., Ste. any lawful act. proc. to NRAI, 111 Eighth Ave., NY, NY 101, Dover, DE 19904. Arts of Org. 33 East 33rd Street 10011, the Reg. Agt. upon whom proc. may filed with the DE Secy. of State, 401 New York, NY 10016 be served. DE office addr.: 160 Greentree Federal St., #3, Dover, DE 19901. 212-532-7400 Purpose: any lawful activities. Notice of Formation of PEEP West www.metrocomradio.com Dr., Ste. 101, Dover, DE 19904. Cert. 48th LLC. Arts. of Org. filed with NY of Form. on file: SSDE, Townsend Bldg., Dept. of State on 9/1/15. Office location: Dover, DE 19901. Purp: any lawful activities. Notice of Qualification of LSREF4 NY County. Princ. bus. addr.: 235-237 PUBLIC AND Bayview Colonial Member, LLC. W. 48th St., NY, NY 10036. Sec. of State Authority filed with NY Dept. of State on designated agent of LLC upon whom LEGAL NOTICES process against it may be served and Notice of Formation of BRP JAMSTA 9/10/15. Office location: NY County. Princ. bus. addr.: 2711 N. Haskell Ave., shall mail process to: c/o CT Corporation TC Owner LLC. Arts. of Org. filed System, 111 8th Ave., NY, NY 10011, Notice of Formation of KMei with NY Dept. of State on 4/13/15. Ste. 1700, Dallas, TX 75204. LLC Productions LLC Arts. of Org. filed formed in DE on 8/18/15. NY Sec. of regd. agent upon whom process may Office location: NY County. Princ. be served. Purpose: all lawful purposes. with Secy. of State of NY (SSNY) on bus. addr.: 767 3rd Ave., 33rd Fl., NY, State designated agent of LLC upon 09/10/15. Office location: NY County. NY 10017. Sec. of State designated whom process against it may be served SSNY designated as agent of LLC agent of LLC upon whom process and shall mail process to: c/o CT upon whom process against it may against it may be served and shall Corporation System, 111 8th Ave., NY, Notice of Formation of G & S be served. SSNY shall mail process mail process to: c/o CT Corporation NY 10011, regd. agent upon whom GUILDED, LLC Arts. of Org. filed to Corporation Service Co., 80 State System, 111 8th Ave., NY, NY 10011. process may be served. DE addr. of with Secy. of State of NY (SSNY) on St., Albany, NY 12207-2543. Purpose: all lawful purposes. LLC: 1209 Orange St., Wilmington, 09/25/15. Office location: NY Purpose: Any lawful activity. DE 19801. Cert. of Form. filed with DE County. Princ. office of LLC: c/o Sec. of State, 401 Federal St., Dover, Arthur Indursky, 680 Fifth Ave., NY, DE 19901. Purpose: all lawful purposes. NY 10022. SSNY designated as agent Notice of Qualification of WMQS IM Notice of Qualification of Hudson of LLC upon whom process against HOLDINGS LP Appl. for Auth. filed with Advisors L.P. Authority filed with NY it may be served. SSNY shall mail Secy. of State of NY (SSNY) on Dept. of State on 9/23/15. NYS ficti- Notice of Qualification of JPPF 2000 process to the LLC at the addr. of its 08/27/15. Office location: NY County. LP tious name: Hudson Advisors New York Broadway, LLC. Authority filed with NY princ. office. Purpose: Any lawful activity. formed in Delaware (DE) on 08/26/15. L.P. Office location: NY County. Princ. Dept. of State on 9/18/15. Office Princ. office of LP: 66 Fifth Ave., 9th Fl., bus. addr.: 2711 N. Haskell Ave., Ste. location: NY County. LLC formed in DE NY, NY 10103. SSNY designated as 1800, Dallas, TX 75204. LP formed in DE on 9/11/15. NY Sec. of State designated agent of LP upon whom process on 8/27/15. NY Sec. of State designated agent of LLC upon whom process Notice of Formation of BG ROCK against it may be served. SSNY shall agent of LP upon whom process against against it may be served and shall HOLDINGS, LLC Arts. of Org. filed mail process to c/o Corporation Service it may be served and shall mail process mail process to: c/o JAMESTOWN, with Secy. of State of NY (SSNY) on Co. (CSC), 80 State St., Albany, NY to: c/o CT Corporation System, 111 8th Ponce City Market, 7th Fl., 675 07/24/15. Office location: NY County. 12207-2543. Name and addr. of each Ave., NY, NY 10011, regd. agent upon Ponce de Leon Ave., NE, Atlanta, GA SSNY designated as agent of LLC general partner are available from SSNY. whom process may be served. DE addr. 30308, principal business address. upon whom process against it may DE addr. of LP: c/o CSC, 2711 Centerville of LLC: 1209 Orange St., Wilmington, DE DE address of LLC: c/o CT be served. SSNY shall mail process Rd., Ste. 400, Wilmington, DE 19808. 19801. Name/addr. of genl. ptr. avail- Corporation System, 1209 Orange to Corporation Service Co., 80 State Cert. of LP filed with DE Secy. of State able from NY Sec. of State. Cert. of LP St., Wilmington, DE 19801. Cert. of St., Albany, NY 12207, regd. agent - Div. of Corps., John G. Townsend filed with DE Sec. of State, 401 Federal Form. filed with DE Sec. of State, upon whom and at which process may Bldg., 401 Federal St. - Ste. 4, Dover, St., Dover, DE 19901. Purpose: all 401 Federal St., Dover, DE 19901. be served. Purpose: Any lawful activity. DE 19901. Purpose: Any lawful activity. lawful purposes. Purpose: all lawful purposes.

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TO PLACE A CLASSIFIED AD, CALL 1800 444 6007 OR VISIT CRAINSNEWYORK.COM PUBLIC AND LEGAL NOTICES Notice of Qualification of WMQS IM Notice of Qualification of WMQS GP Notice of Qualification of 200 Notice of Qualification of RES System HOLDINGS GP LLC Appl. for Auth. filed HOLDINGS LLC Appl. for Auth. filed with BRIGHTON 15TH STREET LLC Appl. 3, LLC. Authority filed with NY Dept. of with Secy. of State of NY (SSNY) on Secy. of State of NY (SSNY) on for Auth. filed with Secy. of State of NY State on 9/17/15. Office location: NY 08/27/15. Office location: NY County. 08/27/15. Office location: NY County. LLC (SSNY) on 09/30/13. Office location: County. Princ. bus. addr.: 11101 W. 120th LLC formed in Delaware (DE) on formed in Delaware (DE) on 08/26/15. NY County. LLC formed in Delaware Ave., Ste. 400, Broomfield, CO 80021. 08/26/15. Princ. office of LLC: 66 Fifth Ave., Princ. office of LLC: 66 Fifth Ave., 9th Fl., (DE) on 09/26/13. SSNY designated LLC formed in DE on 5/19/15. NY Sec. 9th Fl., NY, NY 10103. SSNY designated NY, NY 10103. SSNY designated as agent as agent of LLC upon whom process of State designated agent of LLC upon as agent of LLC upon whom process of LLC upon whom process against it against it may be served. SSNY shall whom process against it may be served against it may be served. SSNY shall mail may be served. SSNY shall mail process mail process to c/o Corporation Service and shall mail process to: c/o CT process to c/o Corporation Service Co. to c/o Corporation Service Co. (CSC), 80 Co. (CSC), 80 State St., Albany, NY Corporation System, 111 8th Ave., NY, (CSC), 80 State St., Albany, NY 12207- State St., Albany, NY 12207-2543. DE addr. 12207-2543. DE addr. of LLC: CSC, NY 10011, regd. agent upon whom 2543. DE addr. of LLC: c/o CSC, 2711 of LLC: c/o CSC, 2711 Centerville Rd., 2711 Centerville Rd., Ste. 400, process may be served. DE addr. of Centerville Rd., Ste. 400, Wilmington, Ste. 400, Wilmington, DE 19808. Cert. Wilmington, DE 19808. Cert. of Form. LLC: 1209 Orange St., Wilmington, DE 19808. Cert. of Form. filed with DE of Form. filed with DE Secy. of State filed with Secy. of State of the State DE 19801. Cert. of Form. filed with Secy. of State - Div. of Corps., John G. Townsend - Div. of Corps., John G. Townsend of DE, PO Box 898, Dover, DE 19903. DE Sec. of State, 401 Federal St., Bldg., 401 Federal St. - Ste. 4, Dover, DE Bldg., 401 Federal St. - Ste. 4, Dover, As amended by Cert. of Amendment Dover, DE 19901. Purpose: all lawful 19901. Purpose: Any lawful activity. DE 19901. Purpose: Any lawful activity. filed with SSNY on 01/28/14, name purposes. changed to GOTHAM SEGREGATED AUTO LLC. Purpose: Any lawful activity. Notice of Qualification of 388 GARAGE Notice of Qualification of New York Notice of Qualification of 92 PINEHURST LLC Appl. for Auth. filed with Secy. of Continuous Care Fund LLC. Authority AVENUE LLC Appl. for Auth. filed with State of NY (SSNY) on 09/14/15. Office filed with Secy. of State of NY (SSNY) Secy. of State of NY (SSNY) on Notice of Qualification of Lighthouse Management Services, LLC. Authority filed location: NY County. LLC formed in on 09/15/15. Office location: NY County. 09/03/15. Office location: NY County. Delaware (DE) on 09/03/15. SSNY LLC formed in Delaware (DE) on LLC formed in Delaware (DE) on with NY Dept. of State on 9/18/15. Office location: NY County. Princ. bus. addr.: 2711 designated as agent of LLC upon whom 09/14/15. SSNY designated as agent of 09/01/15. SSNY designated as agent of process against it may be served. SSNY LLC upon whom process against it may LLC upon whom process against it may N. Haskell Ave., Ste. 1700, Dallas, TX 75204. LLC formed in DE on 8/12/15. NY Sec. of shall mail process to c/o Corporation be served. SSNY shall mail process to: be served. SSNY shall mail process Service Co. (CSC), 80 State St., Albany, NY 426 Broadway, P.O. Box 1386, Monticello, to c/o Corporation Service Co. (CSC), State designated agent of LLC upon whom process against it may be served and shall mail 12207-2543. DE addr. of LLC: c/o CSC, NY 12701. Address to be maintained 80 State St., Albany, NY 12207-2543. 2711 Centerville Rd., Ste. 400, Wilmington, in DE: 160 Greentree Dr., Ste. 101, Dover, DE addr. of LLC: CSC, 2711 Centerville process to: c/o CT Corporation System, 111 8th Ave., NY, NY 10011, regd. agent upon whom DE 19808. Cert. of Form. filed with DE 19904. Arts of Org. filed with the DE Rd., Ste. 400, Wilmington, DE 19808. Div. of Corps., John G. Townsend Secy. of State, John G. Townsend Bldg., Cert. of Form. filed with Secy. of State, process may be served. DE addr. of LLC: 1209 Orange St., Wilmington, DE 19801. Cert. Bldg., 401 Federal St., Ste. 4, Dover, 401 Federal St., Ste. 4, Dover, DE State of DE, Div. of Corps., PO Box DE 19901. Purpose: Any lawful activity. 19901. Purpose: any lawful activities. 898, Dover, DE 19903. Purpose: Any of Form. filed with DE Sec. of State, 401 Federal lawful activity. St., Dover, DE 19901. Purpose: all lawful purposes. NOTICE OF APP. FOR AUTH. Of Windish Notice of Qual. of 110 Greene Fee Owner LP, Talent LLC, a foreign LLC. App. For Auth. Auth. filed Sec’y of State (SSNY) 7/30/15. Off. Notice of Formation of The Food Press, LLC. Notice of Formation of The People’s Filed Sec'y of State (SSNY) 8/11/15. LLC loc: NY Co. LP org. in DE 6/1/15. SSNY desig. Arts of Org filed with Secy. of State of NY Influence, LLC. Arts. of Org. filed organized in DE on 7/27/15. NY office as agent of LP upon whom proc. against it may (SSNY) on 8/6/2015. Office location: NY with Secy. of State of NY (SSNY) on loc: NY county. SSNY designated as LLC's be served. SSNY shall mail copy of proc. to NRAI, County. SSNY designated agent upon 10/6/15. Office location: NY County. agent upon whom process against it may be 111 Eighth Ave., NY, NY 10011, the Reg. Agt. whom process may be served against SSNY designated as agent of LLC served. SSNY shall mail copy of upon whom proc. may be served. DE office addr.: LLC to: United States Corporation upon whom process against it may process to CT Corporation System, 111 160 Greentree Dr., Ste. 101, Dover, DE 19904. Agents, Inc. 7014 13th Ave #202 be served. SSNY shall mail process 8th Ave., NY, NY 10011. Princ. bus. addr.: Cert. of LP on file: SSDE, Townsend Bldg., Brooklyn, NY 11228. Principal busi- to: c/o The LLC, 350 Fifth Avenue, 1658 N. Milwaukee Ave., #211, Dover, DE 19901. Name/addr. of each gen. ness address: 200 Rector Pl. #6G NY, Ste. 6617, NY, NY 10065. Purpose: Chicago, IL 60647, Attn: T. Windish. ptr. avail. at SSNY. Purp: any lawful activities. NY 10280. Purpose: any lawful act. any lawful activity. Purpose: any lawful activities.

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TO PLACE A CLASSIFIED AD, CALL 1800 444 6007 OR VISIT CRAINSNEWYORK.COM PUBLIC AND LEGAL NOTICES

Notice of Qualification of Northstar NY Notice of Formation of Gottlieb Partners Notice of Qualification of METRO- Notice of Qualification of NHT3 LLC. Authority filed with Secy. of State LLC. Arts. of Org. filed with Secy. of POLITAN PROPERTY HOLDINGS, LLC Insurance Services, LLC. Authority filed of NY (SSNY) on 07/07/15. Office State of NY (SSNY) on 9/28/15. Office Appl. for Auth. filed with Secy. of State with NY Dept. of State on 9/2/15. Office location: NY County. LLC formed in Ohio location: NY County. SSNY designated as of NY (SSNY) on 09/03/15. Office location: NY County. Princ. bus. addr.: (OH) on 05/21/15. SSNY designated agent of LLC upon whom process against location: NY County. LLC formed in 600 College Rd. East, Ste. 3500, as agent of LLC upon whom process it may be served. SSNY shall mail process Delaware (DE) on 04/17/15. Princ. Princeton, NJ 08540. LLC formed in DE against it may be served. SSNY shall to: c/o The LLC, 1095 Park Avenue, NY, office of LLC: Waterford Realty, LLC, on 2/5/15. NY Sec. of State designated c/o Richard Garapedian, 330 W. 72nd mail process to: c/o National Registered agent of LLC upon whom process NY 10128. Purpose: any lawful activity. St., Apt. 10C, NY, NY 10023. SSNY Agents, Inc., 111 Eighth Ave., NY, NY against it may be served and shall mail designated as agent of LLC upon 10011, also the registered agent. Address process to: c/o CT Corporation System, whom process against it may be to be maintained in OH: 150 E. Broad St., 111 8th Ave., NY, NY 10011, regd. agent NOTICE OF FORMATION OF ORIENT served. SSNY shall mail process to the Ste. 305, Columbus, OH 43215. Arts upon whom process may be served. DE VISION, LLC. Arts of Org filed with Secy. of LLC at the addr. of its princ. office. DE of Org. filed with the OH Secy. of State, addr. of LLC: 222 Delaware Ave., Ste. State of NY (SSNY) on 08/17/2015. addr. of LLC: 2711 Centerville Rd., Ste. 180 E. Broad St., 16th Fl., Columbus, 1200, Wilmington, DE 19801. Cert. of Office location: NY County. SSNY 400, Wilmington, DE 19808. Cert. of OH 43215. Purpose: any lawful activities. Form. filed with DE Sec. of State, 401 designated agent upon whom process may Form. filed with Secy. of State, 401 Federal St., Dover, DE 19901. Purpose: be served and shall mail copy of process Federal St., #3, Dover, DE 19901. all lawful purposes. against LLC to principal business Purpose: Any lawful activity. Notice of Formation of Bleecker Street address: 7 Mott Street, Suite 600, New Owner 4 LLC. Arts. of Org. filed with York, NY 10013. Purpose: any lawful act. Secy. of State of NY (SSNY) on NOTICE OF FORMATION OF ZAP Notice of Qualification of LSREF4 07/30/15. Office location: NY County. Navigation LLC. Articles of Cambridge Village Member, LLC. SSNY designated as agent of LLC Organization filed with the Secretary Authority filed with NY Dept. of State on upon whom process against it may of State of NY (SSNY) on PUBLIC NOTICE NOTICE IS HEREBY 9/10/15. Office location: NY County. 06/02/2015. Office location: NEW GIVEN, PURSUANT TO LAW, THAT THE NYC be served. SSNY shall mail process Princ. bus. addr.: 2711 N. Haskell Ave., to: National Registered Agents, Inc., YORK County. SSNY has been des- DEPARTMENT OF CONSUMER AFFAIRS Ste. 1700, Dallas, TX 75204. LLC ignated as agent upon whom WILL HOLD A PUBLIC HEARING ON WEDNESDAY, 111 Eighth Ave., NY, NY 10011. formed in DE on 8/20/15. NY Sec. of Purpose: any lawful activities. process against it may be served. NOVEMBER 4, 2015 AT 2:00 P.M. AT 42 State designated agent of LLC upon The Post Office address to which the BROADWAY, 11TH FLOOR, ON A PETITION whom process against it may be SSNY shall mail a copy of any FOR INNOVATION KITCHENS LLC TO served and shall mail process to: c/o Notice of Qualification of Maybach process against the LLC served upon ESTABLISH, MAINTAIN, AND OPERATE CT Corporation System, 111 8th Ave., Ventures LLC. Authority filed with NY him/her is: 11-15 46th RD #2G Long AN ENCLOSED SIDEWALK CAFÉ AT 137 NY, NY 10011, regd. agent upon whom Dept. of State on 9/14/15. Office Island City NY11101 The principal 7TH AVE S IN THE BOUROUGH OF process may be served. DE addr. of location: NY County. LLC formed in DE business address of the LLC is: 11- MANHATTAN FOR A TERM OF TWO LLC: 1209 Orange St., Wilmington, DE on 11/12/13. NY Sec. of State designated 15 46th RD #2G Long Island City YEARS. REQUEST FOR COPIES OF THE 19801. Cert. of Form. filed with DE agent of LLC upon whom process NY11101 Purpose: any lawful act or REVOCABLE CONSENT AGREEMENT Sec. of State, 401 Federal St., Dover, DE against it may be served and shall mail activity. MAY BE ADDRESSED TO: DEPARTMENT 19901. Purpose: all lawful purposes. process to: c/o Argent Ventures LLC, OF CONUSMER AFFAIRS, ATTN: FOIL 551 5th Ave., 34th Fl., NY, NY 10176, OFFICER, 42 BROADWAY, NEW YORK, principal business address. DE address Notice of Qual. of 110 Greene Fee Owner LP, NEW YORK 10004. Notice of Foreign Registration of Ice of LLC: c/o National Corporate Auth. filed Sec’y of State (SSNY) 7/30/15. Off. Miller LLP. Authority filed with NY Research, Ltd., 615 S. DuPont Hwy., loc: NY Co. LP org. in DE 6/1/15. SSNY desig. Dept. of State on 9/18/15. Office Dover, DE 19901. Cert. of Form. filed as agent of LP upon whom proc. against it may location: NY County. LLP registered with DE Sec. of State, Duke & York be served. SSNY shall mail copy of proc. to NRAI, 105 BOERUM MANAGEMENT LLC in IN on 11/4/05. Sec. of State desig- Sts., Dover, DE 19901. Purpose: any 111 Eighth Ave., NY, NY 10011, the Reg. Agt. Articles of Org. filed NY Sec. of State nated agent of LLP upon whom lawful activity. upon whom proc. may be served. DE office addr.: (SSNY) 9/17/15. Office in NY Co. SSNY process against it may be served 160 Greentree Dr., Ste. 101, Dover, DE 19904. desig. agent of LLC upon whom and shall mail process to: c/o CT Notice of Formation of Almine Rech Cert. of LP on file: SSDE, Townsend Bldg., process may be served. SSNY shall Corporation System, 111 8th Ave., Invest LLC. Arts. of Org. filed with Dover, DE 19901. Name/addr. of each gen. mail copy of process to c/o Bcb NY, NY 10011, regd. agent upon SSNY on 8/19/15. Office location: NY ptr. avail. at SSNY. Purp: any lawful activities. Property Management, Inc., 27 Union whom process may be served. County. SSNY designated as agent Square West, Ste. 503, NY, NY 10003. Principal office address: One for process & shall mail to: 233 Purpose: Any lawful purpose. American Sq., Ste. 2900, Indianapolis, Broadway, Ste. 2208, NY NY 10279. Notice of Qualification of BB3 IN 46282. Cert. of Reg. filed with IN Purpose: Any lawful activity. Productions LLC. Authority filed with Sec. of State, 302 W. Washington NY Dept. of State on 9/8/15. Office St., Indianapolis, IN 46204. Purpose: location: NY County. Princ. bus. addr.: NOTICE OF FORMATION of practice the profession of law. Notice of Formation of CHESIRE 245 N. Beverly Dr., Beverly Hills, CA Orcalorka LLC. Arts of Org filed with BRIDGE ENTERTAINMENT, LLC Arts. 90210. LLC organized in GA on Secy. of State of NY (SSNY) on of Org. filed with Secy. of State of NY 1/30/15. NY Sec. of State designated 8/10/2015. Office location: NY Notice of Formation of Medical Hair (SSNY) on 09/11/15. Office location: agent of LLC upon whom process County. SSNY designated agent Restoration, PLLC. Arts. of Org. filed with NY NY County. SSNY designated as against it may be served and shall mail upon whom process may be served Dept. of State on 10/2/15. Office location: agent of LLC upon whom process process to: c/o CT Corporation System, and shall mail copy of process NY County. Sec. of State designated agent of against it may be served. SSNY shall 111 8th Ave., NY, NY 10011, regd. against LLC to principal business PLLC upon whom process against it may be mail process to Corporation Service agent upon whom process may be address: 333 East 55th St. #9E NY, served and shall mail process to: 115 E. 61st Co., 80 State St., Albany, NY 12207- served. GA addr. of LLC: 1201 NY 10022. Purpose: any lawful act. St., NY, NY 10065. Purpose: practice medicine. 2543. Purpose: Any lawful activity. Peachtree St. NE, Atlanta, GA 30361. Cert. of Org. filed with GA Sec. of State, 2 MLK, Jr. Dr., SE, Ste. 313, Atlanta, Notice of Qualification of GROVERTON 405 Madison Street LLC, a domestic GA 30334. Purpose: all lawful purposes. Notice of Formation of Seamless INSURANCE AGENCY, LLC Appl. for Auth. LLC, filed with the SSNY on 7/8/15. Talent, LLC. Arts of Org filed w/Secy. of filed with Secy. of State of NY (SSNY) Office location: New York County. SSNY is State of NY (SSNY) on 7/29/15. Office on 04/10/15. Office location: NY County. designated as agent upon whom Notice of Formation of 120 Union location: NY County. SSNY designated LLC formed in Delaware (DE) on process against the LLC may be served. Developer LLC. Arts. of Org. filed with agent upon whom process may be 01/20/15. Princ. office of LLC: 919 N. SSNY shall mail process to The LLC, c/o Secy. of State of NY (SSNY) on 08/14/15. served and shall mail copy of process Market St., Ste. 725, Wilmington, DE Elisabeth M. Kovac, Esq., 90 Park Ave., Office location: NY County. SSNY against LLC to: Incorp Services, Inc., 19801. SSNY designated as agent of Fl. 18, NY, NY 10016. General purpose. designated as agent of LLC upon whom One Commerce Plaza Albany, NY LLC upon whom process against it may process against it may be served. SSNY 12210. Purpose: any lawful act. be served. SSNY shall mail process to shall mail process to: The LLC, c/o Corporation Service Co., 80 State St., Notice of Formation of D.A.M. REALTY Adam America Real Estate, 850 Third Ave., I LLC Arts. of Org. filed with Secy. of Ste. 13D, New York, NY 10022, Attn: Potomac Rhin LLC. filed with the Secy Albany, NY 12207-2543, regd. agent upon whom and at which process may State of NY (SSNY) on 09/01/15. Office Omri Sachs. Purpose: any lawful activities. of State of NY (SSNY) on 2/4/15. location: NY County. SSNY designated Office location: NY County. SSNY be served. DE addr. of LLC: 2711 Centerville Rd., Ste. 400, Wilmington, DE as agent of LLC upon whom process designated agent upon whom process against it may be served. SSNY shall Notice of Qualification of Cappex.com, may be served against LLC to: 7014 19808. Cert. of Form. filed with DE Secy. of State, 401 Federal St., Dover, DE mail process to David Levine, 159-00 LLC. Authority filed with NY Dept. of 13th Ave #202 Bklyn, NY 11228. Prince Riverside Dr. West, Ste. 1M-70, NY, State on 9/1/15. Office location: NY Office: 15 Broad Street #3200, NY, 19901. Purpose: Insurance agency and insurance marketing services. NY 10032. Purpose: Any lawful activity. County. LLC organized in IL on NY, 10005 Purpose: any lawful act. 5/19/15. NY Sec. of State designated agent of LLC upon whom process Notice of Formation of BIG MOZZ Notice of Formation of 781 Metropolitan against it may be served and shall mail Notice of Formation of 111 Varick HOLDINGS, LLC Arts. of Org. filed with Developer LLC. Arts. of Org. filed with process to: c/o CT Corporation System, Arlington Owner LLC, Art. of Org. filed with Secy. of State of NY (SSNY) on Secy. of State of NY (SSNY) on 08/13/15. 111 8th Ave., NY, NY 10011, regd. agent Sec'y of State (SSNY) on 7/22/15. Office 09/01/15. Office location: NY County. Office location: NY County. SSNY upon whom process may be served. location: NY County. SSNY designated as agent Princ. office of LLC: 309 W. 99th St., #2C, designated as agent of LLC upon whom IL and principal business address: of LLC upon whom process against it may NY, NY 10025. SSNY designated as agent process against it may be served. SSNY 230 W. Monroe St., Ste. 1200, Chicago, be served. SSNY shall mail copy of of LLC upon whom process against shall mail process to: The LLC, c/o Adam IL 60606. Cert. of Org. filed with IL process to NRAI, 111 Eighth Ave., NY, it may be served. SSNY shall mail America Real Estate, 850 Third Ave., Sec. of State, 213 State Capitol, NY 10011. Purpose: any lawful activities. process to the LLC at the princ. office Ste. 13D, New York, NY 10022, Attn: Springfield, IL 62756. Purpose: all of the LLC. Purpose: Any lawful activity. Omri Sachs. Purpose: any lawful activities. lawful purposes.

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GOTHAM GIGS

PIC & COFFEE: Anthony Safos makes a house call to Manhattan’s Ritz Diner, where he squeezes in between waitress Anastasia Souskas and a coffee urn.

Building a business from the grounds up When restaurants’coffee machines break,Anthony Safos is the guy who gets them percolating again

hen coffeemakers get sick, makers of Safos has worked on machines everywhere from the ANTHONY SAFOS coffee call Anthony Safos. Safos makes posh Central Park Boathouse to Johnny’s Reef, a fried- house calls to hundreds of restaurants fish joint on City Island, Bronx. across the city when their coffee He fixes drip coffeemakers of all types and domestic- AGE 42 machinesW are on the fritz. On a recent Monday, his built espresso machines. Jobs range from two minutes to RESIDES Bellerose, Queens phone was buzzing nonstop—a restaurant downtown several hours, and he and five other mechanics are on EDUCATION Majored in business at needed him urgently. But first, Safos had to call 24/7. Nassau Community College give a little TLC to a coffeemaker at If you’ve got Most days begin at 8 a.m. and end by SCALING UP Safos sorted and Gallaghers Steakhouse in midtown. “ dinnertime, during which he visits gutted fish at the Fulton Fish Market star-shaped before tending to coffee machines. After taking the machine’s temperature, anywhere from eight to 20 restaurants. “I grounds, He’s the fourth generation of his family he quickly diagnosed the problem: The fix everything I see wrong, not just what to work at Vassilaros. coffee was brewing too hot. If coffee is they ask me to do,” he said. you’ve got THAT’S A LOT OF JOE The prepared at more than 200 degrees, it turns a happy Most problems, he said, result from company estimates that New Yorkers bitter fast. Worse, if the water reaches a machine kitchen staffers paying inadequate drink 5 million cups of its coffee every boil, all of the sediment at the bottom of the ” attention to temperatures, which can creep week tank gets thrashed around, and that really up over time, or brewing new batches THAT’S A LOT OF DOUGH The fouls up the taste. The window into a machine’s well- before emptying the old ones. For harder cases, Safos drip coffeemaker Safos worked on at being, if not its soul, can be ascertained by examining turns to his bag of tools. Restaurant coffeemakers have Gallaghers costs about $1,200, new. Restaurant espresso machines are the grounds, Safos said. become more high-tech with digital gadgets over the typically priced between $10,000 and “If you’ve got star-shaped grounds in the basket, years, but many problems can be solved with a $15,000. Those with grinders have you’ve got a happy coffee machine,” he explained. screwdriver, according to Safos. platinum blades that cost $900 each. “This one was disturbed.” For his part, he prefers his own coffee with milk and The 42-year-old has been taking care of sugar. He noted that family members give him a hard coffeemakers for seven years at Vassilaros & Sons, a time for that, asking why a coffee doctor would doctor

BUCK ENNIS Flushing, Queens-based coffee roaster and distributor. his coffee. — AARON ELSTEIN

OCTOBER 19, 2015 | CRAIN’S NEW YORK BUSINESS | 31 P032_CN_20151019.qxp 10/16/2015 7:12 PM Page 1

EXECUTIVE MOVES

Lea Emery, 49, joined the DUFF & PHELPS firm as business development director. She POLLY GREENBERG, 47, joined the financial advisory was previously senior vice president and deputy firm as managing director of international commercial regulatory consulting. She was director at Christie’s. previously chief of the Major Guidepost Solutions: Cathal Economic Crimes Bureau at Walsh, 39, was promoted the New York County District to regional director at the Attorney’s Office. investigations, due- diligence and cyber- and technology-security Raines International Inc.: technologies and market consulting firm. He was Joshua Zigman, 33, was development at Aligned previously a manager. promoted to managing Energy/Inertech. Clear director at the executive OptionMetrics: Robert Channel search firm. He was Siverson, 49, joined the Outdoor previously senior vice financial-industry Americas: president. provider of historical Dan Levi, Novantas Inc.: Adel option price data, tools 49, joined Mamhikoff, 46, joined the and analytics as vice the outdoor financial-industry analytic president of operations. He advertising company as advisory services and was previously director of chief marketing officer. He technology-solutions systems and product was previously the founder company as a managing strategy at International of Levi Media Advisory. director. He was Securities Exchange. Sterling Project previously a senior vice STV: Samuel Yu, 44, joined Development: Erika president at AlixPartners. the construction and Weidner, 39, joined the Trinity project management full-service development Place company as vice president and construction advisory Holdings: and Western territory firm as a senior project Jeffrey manager. He was manager. She was Travia, 32, previously an area previously a vice president joined as manager and associate at at Trinity Real Estate. vice Vanir Construction Holwell Shuster & Goldberg: president of acquisitions Management. Robert Morrow, 57, joined and development. He was Fidelis the law firm as counsel. He previously an associate at Care: Mary was previously a partner at Ackman-Ziff Real Estate Beth Hunton & Williams. Group. Maginn, Wilson Elser: Francis Steven Kahn, 49, joined the 34, was Curran, 49, joined the law real estate company as promoted firm as of counsel. He was chief financial officer. He to assistant previously a partner at was previously a chief vice president at the health McCormick O’Brien. financial officer and insurance nonprofit. She treasurer at United Realty was previously a director. EXECUTIVE PROMOTIONS Trust Inc. Glenmede: Lee Miller, 58, The fastest way to get an TSO Logic: Terence White, was promoted to regional announcement into Crain’s 50, joined the data director at the investment is to submit online. Fill out the company as executive vice and wealth management form at crainsnewyork.com/ president. He was firm. She was previously execmoves. The Executive previously executive vice senior relationship Moves column is president of platform manager. also available online.

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32 | CRAIN’S NEW YORK BUSINESS | OCTOBER 19, 2015 20151019-NEWS--0033-NAT-CCI-CN_-- 10/16/2015 4:43 PM Page 1

SNAPS

Harlem School of the Arts marks golden anniversary with $1M fundraiser The Harlem School of the Arts, which provides cultural education to young people in underserved communities, celebrated its 50th anniversary at its Oct. 5 fundraising gala. The school serves about 4,000 children, 85% of whom are African-American or Hispanic. More than 50% of all students receive financial aid. The recent event was Eric Pryor’s first fundraiser as president. He was appointed in June.

Jazz bassist Ron Carter and his wife, Quintell Williams Eric Pryor, Janice Savin Williams, Carter, at the HSA benefit, HSA board vice chair, which raised more than $1 singer/philanthropist Alicia Keys and million. Charles J. Hamilton Jr., HSA board chair, at the fundraiser, held at the Plaza Hotel.

Brooklyn Bridge Park’s Black Tie Ball

City Councilman Mathieu Eugene and Nancy Webster, executive director of the Brooklyn Bridge Park Conservancy, at the organization’s Black Tie Ball fundraiser on Oct. 8. The fete took in $1 million.

Former Mayor Michael Bloomberg and Marissa Shorenstein, president of Douglas Elliman brokers AT&T New York, at the Tom Postilio and Mickey Conlon, benefit for the stars of HGTV’s Selling New York, conservancy, held on Pier at the school event. 2 at Brooklyn Bridge Park.

TOP: GETTY IMAGES / BOTTOM LEFT: JULIENNE SCHAER/BOTTOM RIGHT: JULIE SKARRATT RIGHT: JULIENNE SCHAER/BOTTOM GETTYTOP: LEFT: / BOTTOM IMAGES SEE MORE OF THIS WEEK’S SNAPS ONLINE AT CRAINSNEWYORK.COM/SNAPS

OCTOBER 19, 2015 | CRAIN’S NEW YORK BUSINESS | 33 20151019-NEWS--0034-NAT-CCI-CN_-- 10/16/2015 7:43 PM Page 1

FOR THE RECORD*

U.S. Bankruptcy Court records parks.nyc.gov. signed a lease for a shareholders. Listings are in $7,406,546. He now directly NEW IN TOWN available on Public Access to 5,000-square-foot order of transaction value. holds 124,008 shares. Court Electronic Records. building and 4,000- The information was Companies that would like to REAL ESTATE DEALS obtained from Thomson square-foot parking lot at Public Service Enterprise have details of openings and 2477 Arthur Ave. Realty Reuters. 2302 Neptune Ave. in Group Inc. (PEG) recent moves published should Corp. Companies that would like to Coney Island. Robert Klein submit descriptions following have details of their recent C.R. Bard Inc. (BCR) Ralph A. LaRossa, 2477 Arthur Ave., Bronx of Kalmon Dolgin Affiliates this format to cnyb-research@ transactions published should Timothy Ring, chief president, sold 30,400 Filed for Chapter 11 arranged the deal for the crainsnewyork.com. email descriptions following executive, exercised options shares of common stock at bankruptcy on Sept. 24. owner, Jeff Cohn, and the this format to cnyb- on 40,000 shares of a price of $32.93 per share The filing cites estimated tenant. The asking rent Nudie Jeans [email protected]. common stock at prices on Sept. 15, in a transaction assets of $1,000,001 to $10 was not disclosed. 188 Bowery Deals are listed in order of ranging from $81.70 to worth $1,000,920. On the million and estimated square footage. $88.76 per share on Sept. 29, same day, he sold 30,400 The Swedish brand is liabilities of $500,001 to $1 opening its first NYC shop, in a transaction worth shares of common stock at million. COMMERCIAL STOCK TRANSACTIONS in Nolita. Men’s jeans range $3,409,000. On the same prices ranging from $39.06 International design from $165 to $375. The day, he sold 40,000 shares to $39.62 per share, in a Joe’s Place of the Bronx, agency Raison Pure signed Following are recent insider company also makes of common stock at prices transaction worth NY, Inc. a 10-year lease for 14,000 transactions at New York’s denim jackets, khakis, largest publicly held ranging from $184.18 to $1,198,318. He now 1841 Westchester Ave., square feet at 219 36th St. leather and wool coats, companies filed with the SEC $187.53 per share, in a directly holds 97,889 Bronx at the Industry City parkas and other by executives and major transaction worth shares. Filed for Chapter 11 development at Sunset menswear. It has not set an bankruptcy on Sept. 30. Park, Brooklyn. The tenant opening date. The filing cites estimated represented itself. The assets of $0 to $50,000 and landlord was represented DEALS ROUNDUP estimated liabilities of $0 by Kathe Chase and Jeff COMPANY MOVES Fein of Industry City’s to $50,000. TARGET/SELLERS TRANSACTION BUYERS/INVESTORS TRANSACTION TYPE internal leasing team. SIZE [IN MILLIONS] Calexico Asking rents in the 1491 Second Ave. GOVERNMENT building range from $20 to BioMed Realty Trust Inc./ $7,802.8 Blackstone Real Estate SB M&A SSgA Funds Management Inc. Advisors (Manhattan) The Cal-Mex cult favorite CONTRACT $35 per square foot. opened its first sit-down OPPORTUNITIES PharMEDium $3,082.2 AmerisourceBergen SB M&A restaurant in Manhattan. Branding and design Healthcare Holdings Inc./ Drug Corp. Located on the corner of Following are selected contract Chermayeff & Geisner & Clayton Dubilier & Rice Inc. Second Avenue and 79th opportunities announced by Haviv and architecture (Manhattan) Street, the menu features city agencies. To learn how to firm Rivkin-Weisman PMC-Sierra Inc./ $2,216.0 Skyworks Solutions Inc. SB M&A the burritos, tacos and sell goods and services to city signed a five-year lease for government, visit nyc.gov/ Cadian Capital Management quesadillas available at its approximately 5,500 (Manhattan); Relational Investors; selltonyc. For a searchable four existing outposts in square feet of shared space Soros Fund Management (Manhattan); database of current SSgA Funds Management Inc.; Brooklyn, in addition to 27 W. 24th St. The procurement notices, visit T. Rowe Price Associates Inc. chicken and beef fajitas, landlord, the Kaufman nyc.gov/cityrecord. house-made tortillas and Organization, and the Frank Russell Co./ $1,150.0 Reverence Capital FB M&A queso dip. CONSTRUCTION tenant were both London Stock Exchange Group plc Partners (Manhattan); TA Associates Management Department of Design represented by Kaufman’s Hotel Indigo New York- and Construction Grant Greenspan, Ian Lower East Side Ticketfly Inc./ $479.9 Pandora Media Inc. SB M&A Seeks competitive sealed Norris and Aron Orbach. Cross Creek Advisors; 171 Ludlow St. bids by 11 a.m. on Oct. 28 Asking rents in the IA Capital Partners (Manhattan); The boutique-hotel chain, building are in the mid- Mohr Davidow Ventures; for sidewalk construction Riverwood Capital; Sapphire part of InterContinental in Bloomingdale Park, $60s per square foot. Ventures; Social Leverage Hotels Group, is opening a Staten Island. A bid Waterkeeper Alliance, a 293-room hotel in the document deposit of $35, Journal Media Group Inc./ $302.1 Gannett Co. SB M&A nonprofit organization Lower East Side in early in the form of a money Fidelity Management & November. The 280-foot- representing advocates Research Co.; order or company check, is GAMCO Asset Management who patrol and protect tall space will feature a required. Bid documents Inc. (Rye, N.Y.) more than 260 waterways rooftop pool, terrace and are available at nyc.gov/ worldwide, founded by bar, 14th-floor lobby/local buildnyc. To make Relativity TV/ $125.0 Anchorage Capital FB M&A Robert F. Kennedy Jr., Relativity Media Group (Manhattan); marketplace (with inquiries, contact inked a long-term deal for Advisors; Luxor Capital Falcon products from neighbors Emmanuel Charles at Investment Group a 9,172-square-foot lease such as Katz’s Deli and (718) 391-3170 or (Manhattan) on the sixth floor of 180 Russ & Daughters), and charlesem@ ddc Maiden Lane, in the 147,619-square-foot $115.0 Not disclosed (35.5%) SB M&A Mr. Purple, a new .nyc.gov. restaurant concept seaport district. The office property at 315 W. 36th St./ operated by Gerber Group. Department of Parks and agency team of Frank SL Green Realty Corp. Recreation Cento, Tara Stacom and (Manhattan) Satya Jewelry Justin Royce of Cushman & Seeks competitive sealed Wakefield, and AppDirect Inc./ $110.0 Foundry Group; GCI 230 Vesey St. bids by 10:30 a.m. on Oct. Richard Doolittle, Jesse not disclosed individual investors; The purveyor of 30 for the reconstruction iNovia Asset Capital; Rubens and James handcrafted jewelry has of the Grand Avenue J.P. Morgan Asset Management Inc. Tamborlane with MHP (Manhattan); Mithril Capital opened shop in the playground, located at Real Estate Services, Management; StarVest Partners downtown Brookfield West 181st Street in the (Manhattan); Stingray represented ownership. Place shopping complex. Bronx. Bid documents are Digital Group Inc. The tenant was The 600-square-foot store available between 8 a.m. represented by Peter Selected deals announced for the week ended Oct. 5 involving companies in metro New York. SB M&A: features semiprecious and 3 p.m. in the Blueprint Newman of Handler Strategic buyer M&A represents a minority or majority acquisition of existing shares of a company without gemstones, 18-karat gold Room, Room 64, Olmsted the participation of a financial buyer. FB M&A: Financial buyer M&A represents a minority or majority Real Estate Organization, acquisition of existing shares of a company with the participation of a financial buyer. GCI: Growth capital plate and sterling silver. Center, Flushing Meadows along with Darell Handler investment represents new money invested in a company for a minority stake. Corona Park, for a $25 fee and Jesse de la Rama. SOURCE: CAPITALIQ payable by company check BANKRUPTCIES The asking rent was not or money order to the City disclosed. The following are recent of New York, Parks and ABOUT THIS SECTION RETAIL available filings by companies Recreation. To make For the Record is a weekly listing of information from the public record that can help * seeking bankruptcy protection inquiries, contact Izzy Rodriguez, a businesspeople in the New York area find opportunities, potential new clients and updates in the Southern and Eastern Michael Shipman at company that specializes on customers. To ask questions or get more information on this section, contact Crain’s Districts of New York. (718) 760-6705 or in the restoration and research department or [email protected]. Information was obtained from michael.shipman@ refurbishing of exotic cars,

34 | CRAIN’S NEW YORK BUSINESS | OCTOBER 19, 2015 20151019-NEWS--0035-NAT-CCI-CN_-- 10/16/2015 8:40 PM Page 1

PHOTO FINISH

A hole in every wall ith heavy machinery rumbling and grinding just out of view, who can resist a peek through a New York CityW construction fence? The clear-plastic- covered panels between 210 and 230 E. 44th St. attract curious passersby. The diamond- and square-shaped holes sawed in the green plywood barriers are not a gift to the public from particularly generous contractors, but instead are mandated by the building code after an update in 2013. The 12- by 12-inch viewing panels, as well as simplified signage showing a rendering of the completed structure, would provide “important information to the community,” as then- Department of Buildings Commissioner Robert LiMandri said at a hearing two years ago. Mark Drozdov of environmental and safety consultants Creative Environment Solutions said the regulations add a psychological factor to compliance, as contractors must worry about pedestrians spotting violations. Not only that, it makes construction a little more bearable for neighborhoods. “Before, residents were going through all the dust and noise and wouldn’t know what to expect when the construction was completed,” he said. “Now you can look and say, ‘What a beautiful building!’ ” — PETER D’AMATO PETER D’AMATO

OCTOBER 19, 2015 | CRAIN’S NEW YORK BUSINESS | 35 OUR BANKERS AREN’T JUST ON THE BALL. THEY’RE OFTEN AHEAD OF IT.

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