◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊
THE 47TH STREET BUSINESS IMPROVEMENT DISTRICT
THE NATION’S DIAMOND DISTRICT
ANNUAL REPORT FY 2013
◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊◊ 47TH STREET BUSINESS IMPROVEMENT DISTRICT ANNUAL REPORT FISCAL YEAR 2013
Section I : Review of Fiscal Year 2013
Neighborhood Needs Assessment
The 47th Street Business Improvement District (47th Street BID) is a not for profit tax exempt 501 ( c ) 3 organization that was formed in 1997 by the Diamond District's merchants and landlords to enhance the economic development activities of New York's Diamond District. The goal of the 47th Street Business Improvement District is to make the Diamond District safer, cleaner and more beautiful for merchants and consumers who work and shop in the Diamond District. The 47th Street BID's programs are focused on supplemental sanitation and security services, maintenance of capital improvements and the promotion of the Diamond District's merchants. According to reporting agencies, over the past year sales receipts for 1,300 retail jewelers on 47th Street exceeded $1 billion dollars. All economic activity on the street including; retail, wholesale, manufacturing and importing accounted for over $5 billion dollars.
Forty-Seventh Street between Fifth and Sixth Avenues, known as Diamond and Jewelry Way, is the trading and communications hub for over 26,000 New Yorkers who work in the Diamond and Jewelry industries. Over 95 percent of the diamonds which come into this country goes through dealers on the block, and more precious jewelry is manufactured in New York than anywhere else in the U.S. While other parts of the city have districts which specialize in one business or another, no other industry is as concentrated on one block as the jewelry trade on 47th Street. With over 2,600 individual firms on the 920 foot block the area is very vertical and thriving with a special energy. The district has a unique culture and passion of doing business. It is that personal touch which will always distinguish products of the Diamond District. The district is more than bricks and mortal--the people of the district are its greatest asset with a rich heritage of skill and experience. Most businesses have been in the trade for generations and there is no one block in the entire city with as much personal connectedness.
Because of the high amount of International transactions in the district, the block is also a major center of finance. Most dealers on the street rent booth space (in some cases window space) in one of the of the 25 jewelry exchanges which line the block. In most cities in America, you have to travel to the next mall down the road. In the 47th Street Diamond district, you step five paces to your left or right and you will see a different jeweler with a totally different selection of items. In each exchange there are dozens, sometimes hundreds of independent sellers all under one roof. The close proximity of all these retailers give shoppers the ability to see many different selections in a very short amount of time.
Our long term vision is to raise public awareness about the district and its importance to the city and world economy. This will help the district position itself over time to become the place to buy, sell, manufacture, retail or wholesale precious metals and gems. This will be accomplished through the further enhancement of our basic services to make the
2 district as appealing and alluring as possible.
The major construction project on the street, the International Gem Tower, has been completed. When fully occupied it will add approximately 750,000 new square footage of commercial space to the district. The building has received a Certificate of Occupancy and some commercial tenants have begun to take ownership of their spaces. The retail level has been sold. They have informed us that tenancy will begin in the second quarter of 2014. When occupied, the building will bring much new pedestrian traffic to the district which will help the merchants on the street.
Addressing the Needs of the Consumer – We have sought to make the Diamond District a more appealing shopping destination for consumers. The major complaints about the Diamond District resolve around “hawkers” (individuals who solicit for business on the street). Aware of the “1st Amendment to the United States Constitution – Free Speech Issues” raised by these activities, the leadership of the BID has done everything within its limited powers to curb these activities. We also met with the local police department representatives to try and increase enforcement of harassment cases. We continued to meet with our legislative representatives and appointed government officials to try to come to some workable solution to this problem. The poor economic climate coupled with an ever increasing price of gold has drawn more people to the street seeking to sell their jewelry. this has led to an increased amount of businesses on the street buying gold and the attendant "hawkers" who steer potential customer.
A New Industry Economic Impact Study The BID entered into a contract with, The Fiscal Policy Institute, to produce a new study of the industry. The last study commissioned by the BID and New York State's Empire State Development Corporation was completed in 2011. We will be releasing the results of this survey in 2014.
I. Review of Fiscal Year 2012 Activities
Goals The BID operated within its assessed budget and ended the year with a surplus that will be used as a reserve fund.
Security Cameras: The BID was successful in its lobbying efforts to be included in the NYPD's placement of security cameras. These cameras in addition to the ones the BID bought with a grant supplied by the U.S. Dept. of Homeland Security has greatly increased the safety and security of the district. The cameras are utilized by all levels of governmental law enforcement.
Security
Security Services
3
The BID continues to provide a manned security presence five days a week from 10 A.M. to 6 P.M. Monday through Friday. The BID received a Proprietary Security License from the State of New York. The company hired by the BID, Mega Protective Services, supplies three armed retired NYPD officers for daily patrol duties.
Security Consultant
The 47th Street Business Improvement District maintains a contract with Richard Pettigano, a security expert. Mr. Pettigano has a long career in law enforcement and security. He began his career working in the United States Department of Justice. He is licensed as a Peace Officer by the State of New York and New York City. He is an accredited Special Patrolman for the Diamond District. He has over thirty years experience as head of security for the Diamond Dealers Club and is a member of the Fraternal Order of Police Officers. Mr. Pettigano has been an invaluable agent for the BID in relations with crime enforcement agencies at both the local and federal level.
Sanitation
The BID continues to provide a manned presence six days a week from 9 A.M. to 5:30 P.M. Monday through Saturday. During the holiday season, Thanksgiving through New Year’s Day, the BID sanitation coverage was increased to seven days a week to help give support to the area stores extended holiday hours of operation
Marketing, Advertising & Special Events
Marketing
The ground floor retailer’s success is pivotal to the perception and reality that the district’s sales are strong and robust. Through their increase in business, the wholesalers, manufacturers and other businesses in the community will also indirectly thrive and prosper.
Diamond District Monthly
The BID continues to publish, Diamond District Monthly, an advertising supported monthly magazine available free in news boxes on the street and in lobbies of select buildings. Distribution is also done through the mail to jewelers, industry and civic leaders as well as elected and appointed officials. The newsletter covers information valuable to all stakeholders in the district. It informs the district's businesses and workers about the BID's activities. It is also available on the BID's website at www.diamnddistrict.org by clicking on the DDMonthly button. All previous editions of the publication are available there. The magazine has now gone to full color on all pages. A subscription has been requested by the NY Public Library for access by their patrons.
4
BID Educational Seminars
The BID ran educational seminars for our stakeholders on the following topics.
Safety & Security For Jewelers - Presentations were made by the local NYPD precinct and the US Secret Service.
Marketing For Jewelers - Presentations were made by the US Postal Service, Constant Contact (an email marketing company) and a firm specializing in mobile marketing.
Second Hand Dealers - Presentations were made by the NYC Dept. of Consumer Affairs and the NYPD.
Energy Saving Programs for Property Owners - Presentations were made by ConEd and NYSERDA.
Jewelry Designer’s Symposium - The symposium was sponsored by New York City's Economic Development Corporation.
Local Law 87 for Property Owners - Presentation were made by representatives of NYSERDA.
Meet & Greet Breakfasts
In order to attack more shoppers to the district the BID ran meet & greet informational breakfasts for the following groups with high-net-worth members.
Big Apple Greeters
Manhattan Chamber of Commerce
Cosmopolitan Club
Project Runway
Greater NY Chamber of Commerce
5 Web Site: www.diamonddistrict.org
The BID’s website is the public representation of both the organization and the district. There are sections which highlight the BID’s Buyer’s Bill of Rights, information for consumers about how to buy jewelry and sections on how to contact the BID. Retail merchants in the district, who are part of our Buyer’s Bill of Rights Program, have informed the BID that the largest number of visitors to their individual sites come from links on the BID’s site. This is extraordinary considering that each of these merchants has an active web-advertising program of their own.
The BID's website also include other useful information about the organization including a listing of the board of directors, the most recent Annual Report and the BID's financial information and all historical issues of the BID's monthly publication, Diamond District Monthly.
Holiday Decorations
The BID’s holiday light pole decorations are changed with the season and holiday. The end-of-year decorations included decorative greenery festooned with lights, bows and greenery. The spring-summer decorations had the BID providing live flowering plants on each pedestrian light pole.
BID Board of Directors
47th Street Business Improvement District - the diamond district – 580 5th Avenue, Suite # 323, New York, NY 10036Ph # 212-302-5739, Fax # 212-302-7835
Class A = Property Owners Class B = Commercial Class C = Residential Class D = Public Officials Class E = Non Voting Public Members
Executive Committee Class Alternate Harvey Nagin - President B Nagin Jewelry 66 West 47th Street New York, NY 10036 Ph # 212-719-2185 Fax # 212-719-2194 Email: [email protected]
Stephen Grauer - Chairman B Gerry Grauer
6 Gold Art 18Kt.LLC Gold Art 18Kt.LLC 8 West 47th Street, Booth 51-52 New York, NY 10036 Ph # 212-719-1695 Fax # 212-354-6351 Email : [email protected]
Dennis Marlow - Secretary B Brian Marlow Solitaire Creations 15 West 47th Street New York, NY 10036 Ph # 212-840-2209 Fax # 212-840-2256 Email: [email protected]
Robert Hadi Treasurer A ABS Partners Real Estate 2 West 47th Street New York, NY 10036 Ph # 212-400-2340 Cell # 917-684-5510 Email: [email protected]
Jeffrey Mordekai - Executive Committee Member A Petra Jewelers 62 West 47th Street New York, NY 10036 Ph # 212-575-9230 Fax# 212-575-9231 Email: [email protected]
Ronnie VanderLinden - Executive Committee Member B Diamex Inc. 11 West 47th Street New York, NY 10036 Ph # 212-575-8145 Fax #212-575-8187 Email: [email protected]
Richard Winick - Executive Committee Member B Manny Winick Manny Winick and Son 32 West 47th Street New York, NY 10036 Ph # 212.302.9555 Fax #212-575-1991
7 Email: [email protected]
Kenneth Kahn - Executive Committee Member A Arthur Margolin KenArt Realty 10 West 47th Street New York, NY 10036 Ph # 212-354-0200 Fax # 212-944-8266 Email: [email protected]
Richard Friedman - Executive Committee Member B Cory & Robert Friedman I. Friedman and Sons 10 West 47th New York, NY 10036 Ph # 212-944-8090 Fax # 212-398-1963 Email: [email protected]
Michael Toback - Executive Committee Member A Joy Galicki Myron Toback, Inc. 25 West 47th Street New York, NY 10036 Ph # 212-398-8300 Fax # 212-869-0808 Email : [email protected]
Avery Weinschneider - Chair Finance Committee B Weisz Jewelry 73 West 47th Street New York, NY 10036 Ph # 212-575-5817 Email: [email protected]
Board Members
S. David Belsky - Chair Audit Committee A SDA Belsky Associates 21 West 47th Street New York, NY 10036 Ph # 212-869-0052 Fax # 212-869-5573 Email: [email protected]
Jay Holzer A Dyckman’s 73 West 47th Street
8 New York, NY 10036 Ph # 212-819-0355 Fax # 212-869-1037 Email : [email protected]
Christopher Ipek A Altin Realty 74 West 47th Street New York, NY 10036 Ph # 212-719-1318 Fax # 212-719-3493 Email : [email protected]
Raizy Haas A Jeffrey Torkin & Joe Lipton Extell Development Corp. 805 3rd Avenue New York, NY 10022 Ph # 212-712-6103 Fax # 212-712-6100 Email : [email protected]
Lucy Orozco A David Kaplan Valley National Bank 66 West 47th Street New York, NY 10036 Ph # 212-764-6755 Fax # 212-944-9476 Email: [email protected]
Matthew Selig A Leo Ingwer 62 West 47th Street New York, NY 10036 Ph # 212-719-1342 Email : [email protected]
John Kocak B Unique Settings 47 West 47th Street New York, NY 10036 Ph # 201-240-9505 Email : [email protected]
Adnan Aydin A Futurama Jewelry Exchange 62 West 47th Street New York, NY 10036 Ph # 212-944-2038 Email : [email protected]
9 Yale Zoland A Robert Zoland Zolands 75 West 47th Street New York, NY 10036 Ph # 212-575-8875 Fax # 212-827-0113 Email : [email protected]
Danielle Azeroual A Noel Morrison Premier Realty 36 West 47th Street – Room 1005 New York, NY 10036 Ph # 212-768-3433 Fax # 212-764-6844 Email : [email protected]
Alon Mor A Mor Diamonds 62 West 47th Street, Suite # 401 New York, NY 10036 Ph # 212-921-4221 Email : [email protected]
Jack Elo A Elliott Elo The Elo Group 42 West 48th Street, Suite # 206 New York, NY 10036 Ph # 212-997-5540 Fax # 212-997-5539 Email : [email protected]
Marc Beznicki A King Mark Jewelry 62 West 47th Street, Suite # 310 New York, NY 10036 Ph # 212-921-0746 Email : [email protected]
Moris Yeroshalmi A 45 North Station Plaza, Suite 315 Great Neck, NY 11021 Ph # 516-482-0276 Fax # 212-656-1338 Email : [email protected]
Sammy Abramov B Pziporah Abramov A.A. Pearls and Gems 10 West 47th Street, Unit # 5 New York, NY 10036
10 Ph # 212-730-1731 Email : [email protected]
Isaac Chetrit A Jack Yadidi AB & Sons Group, LLC 25 West 36th Street., 2nd Floor New York, NY 10018 Ph # 212-226-4020 Fax # 212-226-5342 Email: [email protected]
Michael Oistacher B Elizabeth Oistacher Manhattan Gold & Silver 45 West 47th Street New York, NY 10036 Ph # 212-398-1454
Jules Yitzchok Fleischer B Jewelry by Alexander 4 West 47th Street, Booth # 36A New York, NY 10036 Ph # 212-575-0008 Email : [email protected]
Sunny Yung A Central Management Corp 55 West 47th Street New York, NY 10036 Ph # 347-534-3128 Fax# 212-213-9325 Email : [email protected]
John Glaister - Resident C 55 West 47th Street – Penthouse New York, NY 10036 Ph # 212-832-7454 Email : [email protected]
Matthew Schneid - Community Board 5 E 450 7th Avenue, Suite 2109 New York, NY 10123 Cell # 516-361-9827 Email : [email protected]
Reuven Kaufman E Diamond Dealers Club 579 Fifth Avenue, Suite 1018 New York, NY 10017 Ph # 212-355-2330
11 Fax # 212-355-2342 Email: [email protected]
Hon. Michael Bloomberg D Mayor of the New York City
Hon. Christine Quinn D Speaker of the New York City Council
Hon. John Liu D New York City Comptroller
Hon. Scott S. Stringer D Manhattan Borough President
Section II 2014 Goals
1. Security
We have applied for licensure from the NYPD to have Peace Officers in the district. We will continue to press for this.
2. Light Poles
The BID has identified the replacement of the 19 light poles it currently owns on the street with taller, more modern more energy efficient light poles. The project has been approved by the Public Design Commission, Community Board 5, and the NYC Planning Commission. The funds are now at the NYC Department of Transportation and we envision a Spring 2014 installation.
3. Educational Seminars
The BID plans on continuing its series of educational seminars for its various stakeholders. The BID has seminars planned on; Exporting For Manufacturers, Anti-Money Laundering Requirements for Jewelers and Disaster Preparedness for Businesses.
4. Meet & Greet Breakfasts
The BID plans on continuing its very successful program of Meet & Greet Breakfasts with groups and organizations of high-net-worth individuals. We have scheduled events with; The Organization Women In International Trade, The Junior League of New York, Women In Construction, and the Greater NY Chamber of Commerce.
12 III. Contracts
The BID has contracts with the following vendors; George Artz Communications, Inc. -123 Williams Street, NY, NY 10038 Mega Protective Services, Inc. - 269 Barbey Street, Brooklyn, NY 11207 Atlantic Maintenance - 154 Conover Street, Brooklyn, NY 11231
I V. Organizational Information Michael Grumet has been the executive director of the BID for the past seven years his tenure has been characterized as a “revitalization” of the BID. Mr. Grumet’s background includes over twenty years working in the not-for-profit sector. He has done fundraising and marketing for a variety of nonprofit organizations.
The remainder of the full time staff is comprised of, Natalia Cheviakova, the BID’s executive administrator.
13