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Actors Fund in Housing Play a Barneys CEO Orders Online P 20091207-NEWS--0001-NAT-CCI-CN_-- 12/4/2009 8:20 PM Page 1 BEST PLACES TO WORK AND THE WINNERS ARE ... Meet NY’s 40 most enlightened employers, in a special report that starts on P. 13 SMALL BUSINESS LENDERS ® News flash: Loans plunged in ’09 P. 21 INSIDE VOL. XXV, NO. 49 WWW.CRAINSNEWYORK.COM DECEMBER 7-13, 2009 PRICE: $3.00 TOP STORIES Russian Tea Room is last icon standing PAGE 2 CONDO KING The little media engine that could (and did) PAGE 3 DETHRONED Should Goldman take itself private? PAGE 3 With one building gone, more Gay marriage vote on brink,Yair Levy leads pack opens Albany closet of city’s troubled developers THE INSIDER, PAGE 8 EDITORIAL, PAGE 10 BY AMANDA FUNG last month,owners of 45 apartments at a disastrous 303- unit condominium conversion in Battery Park City sued BUSINESS LIVES developer Yair Levy for $100 million, alleging fraud. The suit came nine months after he defaulted on the $165million mortgage for the building located at 225 Rector Place.That project now faces a possible foreclosure that Mr. Levy’s lawyers in court filings say puts him at risk of “losing it all.” Uptown, Mr. Levy’s luck is no better. In September, after the lender on his Park Columbus conversion on West th Street sued him for defaulting on his loan, Mr. Levy filed for bankruptcy on the property. GOTHAM GIGS Many developers have fallen on hard times in recent Display’s the thing for years.Few have fallen further and faster than Mr.Levy,the fred harper Bergdorf guy P. 29 See CONDO KING on Page 26 G ANNE FISHER on how to find a job in another industry P. 29 G MOVERS & SHAKERS What FreshDirect’s Actors Fund in housing play A Barneys CEO orders online P. 30 G GAEL GREENE checks to grow in into Pierre hotel P. 31 Starts ambitious low-income projects to aid its own in downturn ANNETTE BENING tion and senior vice president and Brooklyn BY MIRIAM KREININ SOUCCAR is spearheading general counsel for Petra Solar, an INDEX a fundraising campaign. energy company. “[Launching the the actors fund, a human serv- corporation] will extend our reach Despite troubled NEW YORK, NEW YORK _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _6 ices organization that helps people and effectiveness in a very vital area REAL ESTATE DEALS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ owner, retailer plans 9 who work in the performing arts corporation’s for our community—providing ALAIR TOWNSEND _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _11 and entertainment industries, is first project, a safe, affordable housing for those Cobble Hill store CLASSIFIEDS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _22 planning to build hundreds of low- 160-unit in need.” FOR THE RECORD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _24 income housing units in urban building in Operating housing facilities is centers across the country over the Newark, N.J., not new to the Actors Fund,which BY ADRIANNE PASQUARELLI NEIGHBORHOOD JOURNAL _ _ _ _ _ _ _ _ _ _ _ _ _25 next few years. is still in the planning stages and is has a $26 million annual operating HOT JOBS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _29 The Manhattan-based non- expected to be announced next budget. trendy upscale department EXECUTIVE MOVES _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _29 profit is launching the Actors Fund month. The Actors Fund is look- It currently runs the Aurora, a store Barneys New York is plan- THE WEEK AHEAD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _31 Housing Development Corp. to ing for real estate sites in New York building with a health clinic on ning to open its first-ever location help it accomplish this task. The City and Los Angeles as well.The West 57th Street for people living in Brooklyn, according to sources projects will include low-income with AIDS, seniors, and profes- close to the situation. The retailer housing, assisted-living and nurs- sionals earning less than $35,000 a is canvassing the market in the 49 5 ing-home facilities. year. It also runs a nursing home in hope of opening a Barneys Co-Op “Dancers, actors, and singers Englewood,N.J.,for retired mem- in Cobble Hill, despite the still have median incomes that are well bers of the entertainment industry, treacherous retail climate and the below $25,000, and only a small and it recently opened a low-in- precarious condition of its Dubai- ELECTRONIC EDITION percentage of them work full come housing facility for perform- based owner, Istithmar World. time,”says Scott Weiner,chairman ing artists in downtown Brooklyn “We’re cautiously optimistic NEWSPAPER of the new development corpora- See ACTORS FUND on Page 26 See BARNEYS on Page 26 71486 01068 0 20091207-NEWS--0002,0003-NAT-CCI-CN_-- 12/4/2009 8:25 PM Page 1 IN BRIEF EXECUTIVES IN THE HIGH-END JEWELRY A Russian revival on t BUSINESS ARE PLAYING MUSICAL CHAIRS. Frédéric de Narp, who headed Cartier North America for four years, will be taking over Harry Winston Inc. as president and chief Tea Room wants executive next month. Meanwhile, Emmanuel Perrin, former president of Paris-based jeweler a younger crowd, Van Cleef & Arpels, will assume Mr. de Narp’s post at Cartier. While the jewelry industry more tourists and suffered a pullback in consumer spending and bank lending in the first half of the year, a little less borscht conditions have started to improve.The category recorded a 4.6% gain in November sales, marking its third consecutive month of BY LISA FICKENSCHER growth, according to MasterCard Advisors’ SpendingPulse. from the moment guests walk into the Russian Tea Room, with its gold-leaf ceil- MANHATTAN’S MEMORIAL SLOAN-KETTERING ing, gleaming brass samovars and red- CANCER CENTER IS MOVING AHEAD WITH A leather banquettes, they are prepared to plan to open a $5.1 million outpatient drop a few financial pounds.The menu of- chemotherapy center in Brooklyn after getting fers 11 varieties of caviar for as much as the green light from the state Health $295 per ounce. Department.The proposed center, which will But that’s not the message its latest be at 557 Atlantic Ave., near the LIRR owners want to convey. transportation hub, is Memorial Sloan- “We are trying to communicate that Kettering’s first outpost in a New York City you can have this luxurious, unforgettable outer borough. It will open in July 2010 and experience and it’s affordable,” says Vice will initially treat 10 patients daily, before President Ken Biberaj,who recently intro- ramping up to about 30 patients a day.The duced a children’s tea menu for $25 per hospital is breaking with tradition: Most person and a business express menu for $35 chemotherapy/infusion centers are located in or per person. He also added an extensive adjacent to a hospital. half-bottle wine list. The conundrum of how to make an ex- pensive restaurant appeal to budget-mind- ed diners is not lost on Mr. Biberaj, nor is BY THE NUMBERS his task of refreshing an octogenarian’s im- age to attract more young people like him- Weekly shift of the city’s economy self—he’s 29 years old. HO, HO, INDEED. The surprising drop in un- employment helps dispel fears of the economy One of a kind stalling. True, a shrinkage in the huge service his first challenge since he took on sector was a bad sign, but the drop was small. management of the restaurant in 2006— two years after real estate firm RTR Fund- -11,000 +29% +0.9% ing Group bought the 20-foot-wide, four- DROP in Nov. GAIN in value of GAIN in same- story building—was dispelling a payrolls, bringing metro residential, store sales, perception that it was closed, since it has the U.S. jobless nonres. construction Walmart, in Nov. been for eight of the past 13 years. rate down to 10% starts in Oct. from from year earlier At a time when New Yorkers are more neff david Source: U.S. Dept. of year earlier Source: Retail Labor Source: McGraw-Hill Forward apt to dine at a local bistro or at the trendy Construction places featured in the foodie press, the What’s more, after Tavern on the Green valuable and more viable as a business after Russian Tea Room is jockeying to remain closes on Dec.
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