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Syms Lands in the Basement Nurses 20111031-NEWS--0001-NAT-CCI-CN_-- 10/28/2011 8:17 PM Page 1 INSIDE 40 UNDER TOP STORIES FORTY Hedge fund stars’ NOMINATIONS luck turns awful open today. Go to PAGE 3 www.crainsnewyork.com/ ® 40under40 VOL. XXVII, NO. 44 WWW.CRAINSNEWYORK.COM OCT. 31-NOV. 6, 2011 PRICE: $3.00 UP FROM FLORIDA: Lynn Brickman came Occupy Wall to the Southern Tier, Street’s landlord where natural gas stays low but busy; drilling promises jobs. targets stay mum PAGE 2 Small arts groups form a league PAGE 3 Jugglebox’s perfect pitch wins contest SMALL BUSINESS, PAGE 13 SOLVING THE UPSTATE JOBS RIDDLE: PART I FRACKONOMICS cagwin molly New York’s Southern Tier, and pinned her BUSINESS LIVES A natural gas field, BY JEREMY SMERD Penn boom and hopes on the state’s gas-rich Marcellus Shale. GOTHAM GIGS The Great Recession ended Lynn Brick- “I could not find a job in my field,” Ms. Not spooked by Cuomo’s ambition man’s 35-year career as a medical technolo- Brickman said. “I even tried selling cars. Halloween P. 27 gist and wiped out her savings. So at 57, an Eventually, my dad’s wife said, ‘Come up ● ANNE FISHER Turning combine to lift here.’She said this gas thing was happening.” anxiety into energy P. 27 age when many retire to Florida, she left the NY’s prospects Sunshine State for Cayuta, a small town in See FRACKONOMICS on Page 24 ● MOVERS & SHAKERS Weill Cornell’s secret weapon P. 28 ● GAEL GREENE Crown not fit for a king P. 30 Syms lands in the basement Nurses that the retailer is abandoning the union INDEX Discount retailer loses market share to space, which reportedly had a ground-floor asking rent of $400 a IN THE MARKETS hipper rivals as Filene’s acquisition weighs _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _4 square foot. wounded NEW YORK, NEW YORK _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _6 strip now home to a host of hip re- “The location of Fifth Avenue THE INSIDER BY ADRIANNE PASQUARELLI _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _8 tailers, seemed ideal for its new hy- is incredible,”said Howard David- A power struggle REAL ESTATE DEALS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _12 brid brand with Filene’s Basement. owitz, chairman of retail consult- When Syms Corp. signed on last Yet rumors that the $445 mil- ing and investment banking firm NEIGHBORHOOD JOURNAL _ _ _ _ _ _ _ _ _ _ _ _ _14 year to create a lavish store at 530 lion chain has pulled the plug on Davidowitz & Associates Inc.“But infects contract talks CLASSIFIEDS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _20 Fifth Ave., the location appeared to plans to open the 34,000-square- you’re taking on a big exposure FOR THE RECORD at biggest hospitals _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _23 be a perfect fit for the 52-year-old foot, three-story Syms/Filene’s there. … What if you can’t do EXECUTIVE MOVES _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _27 discount chain.The company need- paint a darker picture. A sign at enough business?” BY BARBARA BENSON THE WEEK AHEAD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _30 ed a midtown presence, and Fifth 530 Fifth still touts a 2011 open- Not bringing in enough busi- Avenue in the 40s, a once-grubby ing, but real estate brokers confirm See EDUCATED on Page 25 Frustrated by negotiating for more than a year without success, some BUSINESS OF LAW REPORT 3,000 nurses voted last week to stage a strike at New York-Presby- ARBITRATION as economic development terian Hospital.The main point of contention? Management wants MOMS welcomed back at more and more offices the nurses to pay more for their PAGE 15 health insurance premiums. The NEWSPAPER LIST New York’s top law firms See NURSING on Page 4 20111031-NEWS--0002-NAT-CCI-CN_-- 10/28/2011 8:18 PM Page 1 UNDER THE GUN COMMENTARY Columnist shaken, put in stir read Mayor Bloomberg’s recent boast that New York’s parks are now so safe, his girl- friend walks her dogs in Central Park at 1 a.m. It’s good to be the king’s consort; last time I tried that, I ended up behind bars. II’d been to a party and had some wine. We’ve all heard of DWI, but little did I know that DWWI, or Dog Walking While Intoxicated,can be just as risky. buck ennis SOUR NOTES: Participants in Occupy Wall Street are stressing their neighbors and their de facto landlord alike. Just after 1 der if they teach a.m., my dog and that at the Police I went to Central Academy. Park. While we An hour or so usually stick to later, I was re- Protesters’ landlord faces the paths, that leased and hand- night I instinc- ed two tickets. tively chose the The first,for vio- well-lit road. lation of a 1 a.m. hard work on many fronts Five minutes into Central Park cur- the walk, an am- few that I hadn’t plified voice MICHAEL known existed, tend to his frustrated host, the park’s west of Penn Station, where it hopes boomed, “Get GROSS answered the Brookfield’s tiny park owner, Brookfield Office Properties. to construct three office towers. out of the park!” question I’d asked is big drain as it tries “I don’t really know much about “We have a very large portfolio, I turned. An the cop.The sec- them,” said Mr. Sheppard. and we are continuing to maximize NYPD squad car snapped on ond was for failure to obey a po- to press ahead with Neither do most of Brookfield’s value,”said Mitchell Rudin,chief ex- its headlights. When the cop lice officer.Both charges would nonpaying de facto tenants. Still, the ecutive of Brookfield Office Proper- pulled up beside me, I asked, eventually be dismissed in a multiple projects city’s fourth-largest landlord has ties’ U.S. Commercial operations. “Why?” That was my first court appearance so speedy it been sucked into the middle of the At half an acre, Zuccotti Park is a mistake. barely registered. Judges, I BY THERESA AGOVINO national phenom of the moment. tiny part of Brookfield’s 19 million “I said get out of the park.” learned, don’t want to be both- Brookfield management is devoting square feet of prime Manhattan com- Again: “Why?” ered with such petty “crimes.” Eighteen-year-old Noah Sheppard enormous time and energy to its un- mercial space, yet it poses outsize Bolting from his car, the Meantime,my research re- was preparing to backpack though wanted role in the drama,sources say. problems.Brookfield is facing unhap- cop snapped,“Show me some vealed that the park curfew is Hawaii when he heard about Occu- The crisis comes at a busy time for piness among area tenants, and run- ID.” posted just inside Artisans’ py Wall Street. Now, instead of Brookfield. It’s embarking on several ning the risk that prospective tenants Mistake No. 3: “I thought Gate, albeit on a tiny sign so camping in a tropical paradise, Mr. major projects. Downtown, the com- will be scared off. Even worse, Brook- I lived in America.” far off the ground, only a Sheppard has pitched his tent among pany is searching for large office ten- field could face a bevy of lawsuits Bam! My face Knick would no- the dozens of others put up by the ants to fill 4 million square feet of va- should anyone get hurt at its park.Last was on the hood of Bam! My tice it. I also found protesters in Zuccotti Park. cancies looming at the four-building week, a police union threatened to sue the squad car. that (until Occupy Mr. Sheppard said he came from World Financial Center complex, as if any of its members were injured. Snap! I was hand- face was Wall Street, at Washington state to fight against it moves ahead with a $250 million “It’s an enormous challenge, and cuffed.
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