GOTHAM GIGS FROM BOMBS TO BIKES Combat engineer puts the pieces back together CRAIN’S® NEW YORK BUSINESS PAGE 8

VOL. XXIX, NO. 2 WWW.CRAINSNEWYORK.COM JANUARY 14-20, 2013 PRICE: $3.00 Repairs on the CUOMO’S Verizon Telecom’s $1B worth of Sandy damage CASINO could offer silver lining for company FLIP BY MATTHEW FLAMM Nearly three months after Super- storm Sandy knocked out power in lower Manhattan, 160 Water St. is Governor does a ‘180,’ sending its own little ghost town, vacant since seawater filled its basement gambling lobbyists scrambling the night of Oct. 29. But the emptiness of the 24- story building means more than just BY CHRIS BRAGG the absence of tenants like the New York City Health and Hospitals A year ago, Gov. Andrew Cuomo made the centerpiece of his State of Corp. Sliced-off copper cables from the State address an ambitious plan to legalize casino gambling in New the Verizon phone system hang from the telecommunications York. A $4 billion convention center in Queens was to be built next to “frame room” walls, its floor still the Aqueduct racino, which seemed certain to become the city’s first puddled in water. When 160 Water full-fledged casino. In the 2013 iteration of the speech last week, the St. reopens next month, the frame governor reversed himself. He said casinos in the city would under- room will re- mine the goal of drawing Gotham’s 52 million tourists upstate. The main empty. first three gambling venues he eyes for the state now appear destined All the phone 300K for north of the metropolitan area. See CASINO on Page 38 and data POUNDS OF switches have copper wire MEANWHILE, IN JAVITSVILLE ... Waving g’bye to guv’s bulldozer notions Page 38 been moved destroyed by Sandy to a closet on have been removed the second and replaced floor, where with high-speed streamlined fiber-optic cable fiber-optic cables will connect to tenants’ phones and computers.There won’t be a copper cable in sight. That’s good news for Verizon Communications and, potentially, its customers downtown. Building by building, and block by block in the underground area around its Broad Street central of- fice, Verizon has been modernizing its infrastructure as part of the biggest repair project in its history. So far, workers have removed 300,000 pounds of copper cable de- stroyed by Sandy and installed miles of fiber-optic cable in its place.

darren thompson darren It’s been a logistical operation worthy of a minor war, with the See VERIZON on Page 37

REPORT REAL ESTATE Happy 100th birthday, Grand Central! P. 19 ELECTRONIC EDITION The latest signs of the Times (Square) P. 19

NEWSPAPER Plus: Meet this year’s REBNY honorees P. 28 EDITOR’S NOTE

Rebuild, NY FYICRAINSNEWYORK.COM Here we are, nearly three months since Superstorm Sandy slammed our world, and the Crain’s New Morgan Stanley gets out York Business newsroom continues to produce enough Sandy-related the ax—for another whack stories each week to fill an extra n 2007, Morgan Stanley lost $9 billion on issue of the newspaper. So that’s disastrous mortgage-related bets and then saw its HOLD THE LINE: what we’ve decided to do: publish Morgan Glenn Coleman business shrivel during the Great Recession and Stanley CEO James via email each week a digital I Gorman is trying to set his again in the face of new regulations. In response, it has newsletter called Rebuilding NY. firm on the right track. been slashing costs, like its Wall Street rivals. newscom Nearly 30,000 Crain’s online readers are already Last week, reports emerged suggesting that those cuts still have room to run, with another receiving it, keeping up with our staff ’s latest news 1,600 people, including many from its blue-chip investment banking division, to be laid off in articles on the region’s recovery efforts from this coming months. And the shrinkage could get worse. According to The New York Times, the firm storm of the past few centuries. Rebuilding NY also may exit the high-stakes bond trading business, much as Swiss bank UBS did last year in the offers links to other media outlets’ stories that we at wake of its own massive losses. Crain’s think are of interest to local businesses and Although Chief Executive James Gorman (above) deserves credit for trying to make the firm their communities, as well as a resource guide for less reliant on risky trades and generate more revenue in the steadier business of managing people seeking information on insurance and people’s money, the company’s stock price has languished and its outlook remains bleak. Barclays government assistance. Sandy ripped the roof off Capital, for example, estimates the bank’s return on equity—a key measure of success—will be New York’s aging infrastructure, flooded high-rise 5.7% this year, well below Goldman Sachs’ 9.5%. Closing that gap may require Mr. Gorman to condo and commercial towers, and forced businesses part with more of his 58,000 employees. in the area to scramble for higher, drier ground. It Meanwhile, even mighty Goldman, after cutting more than 1,000 jobs beginning in 2011, has also destroyed an estimated 100,000 homes along more recently turned to thinning the vaunted ranks of its partners, in another sign of Wall the New York and New Jersey coastline, including, Street’s ongoing retreat. —aaron elstein alas, my parents’ Cape Cod charmer in Brigantine, N.J., ruined beyond belief by nearly five feet of floodwater. So, yes, it’s personal. (Damn personal, in RETHINKING STOP-AND-FRISK. Police stores are on hard-hit Staten Island. CRASH LANDINGS. HOORAY! the interest of full disclosure.) But it’s also business. officers in the Bronx are going to have … First thing on to think twice before stopping people Wednesday morning, a ferry shut- FREE WI-FI hits Assuming Congress gets its pathetic act together— on the street.A federal judge has ruled tling more than 300 passengers from Chelsea, against the NYPD’s controversial New Jersey crashed into a pier in low- courtesy of and make it snappy, guys, because my mom and dad Google and the and their neighbors still haven’t heard squat about stop-and-frisk practice, stating that it er Manhattan, injuring 74. A few Chelsea “systematically”violated the constitu- hours later, on the other side of the Improvement their FEMA insurance payouts—the tens of billions tional rights of residents. The judge East River, a 300-foot crane toppled Co. of dollars that will be spent to rebuild New York in said cops can use the tactic only if they on the site of an apartment building the coming years will create opportunities for have “reasonable suspicion of tres- that was under construction in Long buck ennis pass.”… SIGNS OF THE TIMES.The for- Island City, Queens, injuring seven thousands of companies looking to help repair est of parking-regulation signs in workers. Both incidents are under in- OY VEY! people’s lives and livelihoods. If you think that cycle parts of Manhattan will get a much- vestigation. Early reports on the ferry 2012 was the warmest ever in the lower of commercial life might include you or your needed $180,000 makeover,designed laid the blame on a mechanical mal- 48 states, totally frying the previous business, then I invite you to keep up with the latest to make them easier to decipher.The function.… BANKS PAY UP. A group of record set in 1998. 6,300 new signs will max out at 140 major banks agreed to pay $20 billion Sandy-recovery intelligence by subscribing to characters each,down to settle mortgage- Rebuilding NY at CrainsNewYork.com/newsletters. from 250 now.Mean- ‘They were related abuses dating while, cyclists will get to the boom years. more parking spots. running Additionally,Bank of The Department of America agreed to Transportation is around with pay $8.5 billion over THIS WEEK IN CRAIN’S spending $2 million their head its “robo-signing” to turn 12,000 old practices. Whew! knows what they’re doing, said Gov. IN THE BOROUGHS------3 parking-meter poles chopped off’ Now that the banks Andrew Cuomo.But who wants it? A into bike racks. … —JPMorgan Chase CEO have cleaned up their panel ID’d two potential buyers, in- IN THE MARKETS------4 SANDY KO’S MANDEE. Jamie Dimon, on some top affairs, experts say, cluding Con Edison, but experts said THE INSIDER ------6 The superstorm has execs’ reaction to the bank’s they may start lend- neither has the cash nor the appetite. claimed another vic- $6B “London Whale” loss ing again. New rules … RENTS DO IT AGAIN.It’s official:Av- BUSINESS PEOPLE ------8 tim—Big M. The re- last week from the erage rents in Manhattan rose yet OPINION ------12 tailer, which owns discount chain fledgling Consumer Financial Pro- again last year, finishing 2012 up 5%, stores Mandee,Annie Sez and Afaze, tection Bureau are designed to en- according to a report by Citi Habitats. GREG DAVID------13 filed for Chapter 11 bankruptcy pro- courage more lending—while ensur- Luxury apartment rents in the bor- SMALL BUSINESS ------14 tection, blaming the bad news on ing borrowers don’t get bilked. … ough soared 22%, driven up by folks LIPA, R.I.P. REPORT: REAL ESTATE------19 guess what? Totowa, N.J.-based Big Having failed customers who could afford to buy but simply M said it hopes only a handful of its miserably during Sandy, the state- couldn’t find the perfect pad, said THE LIST ------30 129 stores will shutter because of the run Long Island Power Authority Douglas Elliman and Miller Samuel NEW YORK, NEW YORK CLASSIFIEDS ------34 bankruptcy. Several of its Mandee should be sold off to someone who Inc. —amanda fung Damon Fields is among NY’s SOURCE BREAKFAST------growing ranks of extras trying 42 to make it in movies. P. 41 OUT AND ABOUT ------43 STORIES TO WATCH THIS WEEK vol. xxix, no. 2, january 14, 2013—Crain’s New York Business (issn 8756-789x) is published weekly, except for double issues the weeks of July Fourth, Labor Day and Christmas, by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at Jan. 14: National Jan. 15: House Jan. 17: Annual Jan. 20: Curtain New York, N.Y., and additional mailing offices. Postmaster: Send address changes to: Crain’s Retail Federation GOP votes on Real Estate Board call—six plays 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 Annual Convention $51B Sandy relief of New York gala, close, including year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2013 by Crain Communications Inc. All rights reserved. & Expo at the package. the ‘liars’ ball’ Glengarry Glen Jacob Javits Center Ross.

2 | Crain’s New York Business | January 14, 2013 IN THE BOROUGHS FAST-FOOD KING NO MORE MANHATTAN Dennis Riese is City hits CASH COW: flush with cash and Dennis Riese sold his T.G.I. Friday’s building reset on ready to invest in in Times Square for an pricier restaurants $85 million profit. Broadway BY LISA FICKENSCHER Pedestrian lanes The Riese Organization, one of the largest and oldest restaurant opera- prove popular with tors in the city, has generated its all too many folks share of unwanted headlines over the years, including a bankruptcy in 1999 and widely publicized photo- BY ANNIE KARNI graphs of vermin nibbling on pas- tries in Riese-owned Dunkin’ Early last year, community leaders Donuts stores. The ensuing media in Manhattan’s garment district frenzy resulted in Dunkin’ Donuts asked for an emergency meeting kicking Riese out of its franchise in with the city’s Department of Trans- 2009. portation. They needed to discuss But Dennis Riese, whose father, the DOT’s four-year-old bike Murray, and his brother, Irving, lane—a green-painted sliver of founded the business in 1940 and pavement stretching along Broad- amassed vast real estate holdings, is way between West 35th and West now steering the company in a new 42nd streets. direction,and trying to shed his rep- As local leaders saw it, instead of utation as the fast-food king of the improving the quality of life in the Big Apple. densely packed neighborhood, the “We will be much less known for bike lane and adjacent maroon fast food,” said Mr. Riese, chairman pedestrian plaza were wreaking and chief executive. “I haven’t liked havoc. that identity.” Pedestrians looking for a chair in For the first time in many years, the new plaza or simply sauntering Mr.Riese,62,can boast that the pri- down the lane as an extension of the vately held company has enough sidewalk were constantly getting cash lying around to make the kinds nailed by cyclists. of changes he’s been dreaming The standard midtown din of about. After more than a decade of blaring horns and sirens was in- struggle because of debt assumed by creasingly punctuated with frantic the first generation of Rieses, the cries from bike messengers: “Hey, company two years ago pocketed you, get out of the bike lane!” Frus- about $85 million by selling a four- trated, many cyclists gave up weav- story building in Times Square, ing between pedestrians and took to 1552 Broadway, where it had oper- the car lanes. Others rode against ated a T.G.I. Friday’s—one of 10 it traffic, heading north in the south-

See FAST FOOD on Page 37 buck ennis See B’WAY on Page 16

Bricks-and-mortar Macy’s shows STATS AND THE CITY

GESUNDHEIT! Cover your nose and scrub your hands. This flu season is it can make big bucks online the nastiest in years. Boston has already declared a health emergency.

whenever, wherever and however Manhattan (where they make up a 1,120 It took more than a they prefer. Reaching customers significant portion of the borough’s New Yorkers hospitalized with flu in the first week of year, decade, but tech through stores, online and mobile technology workforce). In the past up 55% over the previous week gives us a lot of flexibility.” year, the department store, which miracles are taking To get ahead of the pack, Macy’s had 2011 net sales of $26.4 billion, place on 34th Street Chief Executive Terry Lundgren has greatly improved its inventory 19,128 strategy by building new warehous- Number of flu cases in the state since October es and drafting nearly 300 stores to BY ADRIANNE PASQUARELLI The store act as e-commerce fulfillment cen- ters.Online orders will rarely be out 2 Macy’s Inc. was one of a handful of passed the $2B of stock. Weeks it takes for a flu shot to be effective major retailers this holiday season Macy’s has also made its stores whose sales were not stolen by the mark in Internet more innovative: The Herald Grinch. Its secret weapon against Square flagship this past fall un- $10B stingy shoppers? E-commerce. The sales in 2012 veiled a 39,000-square-foot shoe Amount U.S. businesses pay out in medical 850-unit chain logged a 4.1% De- department where associates use costs during a typical flu season cember gain in same-store sales, led iPod Touch devices as cash registers, by a 52% increase in online sales. making checkout a relative breeze. “We have taken a number of “The Internet has not only 20 steps to make the shopping experi- has moved the store beyond its helped Macy’s engage and serve Seconds recommended for washing hands, the same as humming “Happy Birthday” twice ence online mirror the stores, and bricks-and-mortar roots to become new customers, but it has also vice versa,” said Jeff Kantor, chair- more nimble technologically. To- helped them serve existing cus- Sources: Centers for Disease Control and Prevention; NYC Department of Health and Mental Hygiene man of Macys.com. “We want cus- day, its website employs 1,150 tomers better,” said Liz Dunn, a re- istockphoto tomers to be able to shop Macy’s workers, 650 of whom are based in tail analyst at Macquarie Capital ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY See MACY’S on Page 16

January 14, 2013 | Crain’s New York Business | 3 IN THE Cantor Fitzgerald hedges MARKETS on 9/11 Memorial pledge by Aaron Elstein

monetary promise to the 9/11 struction of the eight-acre plaza. Investment bank vows Memorial, the company has deliv- Mayor Michael Bloomberg himself Sandy relief, yet ered less than 10% of the money singled out Cantor Fitzgerald for promised to the site, according to a thanks in his remarks at the time. earlier promise of source. The chairman and chief execu- $10M goes unfulfilled A spokesman for Cantor said the tive of Cantor Fitzgerald, Howard company fully intends Lutnick, sits on the to pay the $10 million board of the 9/11 BY ANNIE KARNI to the 9/11 Memorial Memorial. Mr. Lut- over time. He did not nick’s brother Gary Cantor Fitzgerald last week an- specify when and noted died in the attacks. nounced it would donate $10 mil- that there was never a “To honor our col- lion to New Yorkers who live in deadline for the pay- leagues and all those neighborhoods that were decimated ment. Each year Can- who lost their lives on by Hurricane Sandy. tor evaluates how much that tragic day, we are But the financial firm—which it can donate to charita- privileged to provide suffered the biggest death toll of any ble groups, he said. this gift to help realize employer when it lost 658 of its own A spokesman for the newsbloomberg the dream of building workers during the World Trade 9/11 Memorial de- CEO HOWARD LUTNICK’s our country’s national firm suffered a huge toll on Center attacks on Sept. 11, 2001— clined to comment. Sept. 11, 2001. 9/11 Memorial,” Mr. istockphoto still hasn’t made good on a previous The major donation to Lutnick said in 2008 $10 million pledge to the National the nonprofit memorial when announcing the September 11 Memorial & Muse- was announced with great fanfare in generous donation. um, according to two people with April 2008. Cantor’s pledge was key But the foundation, where Mr. At Con Ed, a bright knowledge of the foundation’s to the memorial’s meeting its $350 Bloomberg serves as chairman, has fundraising.Five years after Cantor’s million fundraising goal for con- yet to see the bulk of the money. Ⅲ idea suddenly isn’t

fter Sandy struck, Consolidated Edison Inc. disclosed it would have to pay hundreds of millions of dollars Ato fix its grid and upgrade systems to better withstand future storms. Last week, Con Ed got stuck with another financial disaster that will cost almost as much as the Sandy cleanup. And the most painful thing is that this mess We congratulate our client is entirely of Con Ed’s own making. What happened? Well, years ago Con Ed entered into a tax shelter that helped lower its bills to the Internal Revenue Service.The feds didn’t think the complex financial transaction had any legitimate economic purpose, and last week an appeals court agreed. More on the case’s details later, tract was front-loaded, so Con Ed but, bottom line: Con Ed quietly made large initial rent payments to disclosed that it’s on the hook for as EZH. Second, interest was de- much as $370 million in taxes and ductible on a loan that Con Ed took in its joint venture with interest. For some context, the util- to pay the Dutch. ity has estimated that the cost of re- Here’s where the deal got prob- pairing the Sandy damage ranges lematic:Under the agreement terms, from $350 million to $450 million. EZH had the right to repurchase the A spokesman said Con Ed “is re- lease from Con Ed. So the key ques- viewing the [appeals court] decision tion is whether EZH was reasonably and weighing its options.” likely to exercise that right over the Importantly,this tax bill won’t re- life of the 44-year-long lease. The in the restructuring and recapitalization of sult in higher rates for Con Ed cus- government thought so—after all, tomers. That’s because the liability what does Con Ed want with a stems from an unregulated part of Dutch power plant?—and court ev- PJ Finance Company the company, so Con Ed can’t raise idence showed Con Ed officials electricity or gas rates to recover its thought so, too. (Con Ed’s account- loss.Still,Con Ed’s liability equals six ants at Deloittetestified that they were and its 9,500 units of multi-family housing months’worth of dividend payments not asked to opine on the matter.) located in AZ, GA, TX, FL and TN to shareholders, and if the utility Yet Con Ed officials were evi- were forced to cut its payout even dently so confident of prevailing in temporarily, its stock price—about court that they didn’t set aside any $56 last week—would surely suffer. reserves in case they lost. So how did Con Ed get here? It Because Con Ed was likely to sell begins back in 1997, when it leased back the lease, the government ar- a gas-fired power plant from a gued the utility wasn’t taking any of Dutch utility called—brace your- the financial risk that a leaseholder self—Electriciteitsbedrijf Zuid-Holland, bears,and the transaction was essen- or EZH. The transaction was tially a sham.(More politely,the feds known as a lease-in lease-out deal,or argued the LILO lacked “sub- LILO, because Con Ed leased the stance.”) The U.S. Court of Federal property back to EZH immediately Claims initially ruled for Con Ed, after signing the rental contract. but last week the U.S. Court of Ap- The transaction helped Con Ed peals decided in favor of the govern- raise its earnings by lowering its tax ment. If Con Ed were to appeal the Want more info on our donedeals? Scan the QR Code with your smart phone. bills in two ways: First, lease pay- appeal, presumably the next stop ments are deductible and the con- would be the Supreme Court. Ⅲ

4 | Crain’s New York Business | January 14, 2013

THE Candidate pitches tax breaks INSIDER by Andrew J. Hawkins Companies could also game the sys- vested in that has outsourced jobs. Set up shop in NYC? tem, he said, changing names to ap- Critics of Mr. Allon’s proposal No levies for three pear new and thus avoid taxes for pointed out that Goldman also built three years, or laying off workers and a $2 billion headquarters in lower years, says Tom Allon then rehiring them to get credit. Manhattan after Sept. 11. Mr. Allon, who trails other con- tenders in fundraising with only Going coach BY ANNIE KARNI $35,000, said increased employ- The mayoral hopeful also wants to ment would pay for the incentives. expand the city’s New Business Ac- Mayoral candidate Tom Allon may A second prong of his economic celeration Program, which over the be a long shot in the race, even after plan—renting unused city office past year helped 500 new restaurants switching parties to Republican space at below-market rates— open. He wants each new business to from Democrat last fall in order to would also generate new revenue for have a personal “account manager” gain a competitive edge. the city, he said. available for coaching. “If every busi- But even as the GOP side of the “For city-controlled real estate ness in New York City had a person mayoral equation fills up with po- where there is more than two years in government to call and help, this tential rivals, the newspaper pub- of foreseeable vacan- city would be a much lisher is forging ahead and unveiling cy,” Mr. Allon said, easier and more effi- an economic agenda heavy on tax “the city should sub- ‘I’m a firm cient place to do busi- newscom breaks for startups. sidize the expansion ness,” Mr. Allon said. Mr.Allon told Crain’s he wants to of its business- believer in He believes his ideas Handicapping Cuomo’s proposals offer a three-year tax holiday to busi- incubator program to could reduce unem- nesses that set up shop in the city, as broaden opportuni- dual ployment—at 8.8%— Andrew Cuomo well as tax credits of up to $15,000 ties for local entre- in the city by 5 percent- ov. ’s policy book for his third year in for existing business that hire unem- preneurs.” The pro- minimum age points within four office at 326 pages contains proposals big (more ployed residents. A business would posal would require a years.Mr.Allon offered restrictive gun control) and small (a whitewater- get $10,000 from the city for retain- law change so that the wage’ a twist on the G rafting competition). It’s a shift from the first half of his ing a previously unemployed person city would be allowed minimum-wage ideas for a year. That subsidy would in- to lease its own office being floated by state term, when he focused on a few items and made sure to get crease by 50% if the employee were space at a discount. legislators and Gov. them done.The larger agenda for 2013, as well as the usual to stay put for two years. Mr. Allon also Andrew Cuomo.“I’m a Albany politics and an untested power-sharing agreement wants to invest part of firm believer in dual Subsidy ‘du jour’? the city’s pension fund in small busi- minimum wage: $7.25 an hour for in the state Senate, means Mr. Cuomo will not bat 1.000. James Parrott,chief economist for ness loan programs and venture- those up to 22 years old and $9 an Still, insiders and Albany watchers say many of the the Fiscal Policy Institute, dismissed capital funds that invest in city start- hour for those older than 22,”he said. governor’s bigger-ticket items, like gun control and broader the tax holiday as a gimmick.“No one ups. “This proposal is not without Changing the minimum wage re- abortion rights, are within his grasp. Here’s a look at what’s is going to start a business or hire precedent; the city teachers’pension quires approval by the state Legisla- people in New York City unless it fund invests 2% of its assets to sup- ture. City Comptroller John Liu, a attainable, what’s negotiable and what’s pie in the sky: makes sound business sense,”he said. port local housing projects,” he said Democrat who is also running for Low-hanging fruit. Anything tied to rebuilding after “The tax break du jour approach is in an email. mayor,has said he would like to raise Superstorm Sandy will have a fairly smooth ride through the just candy. It might seem like a nice Mr. Allon singled out Goldman the minimum wage,currently $7.25, Legislature, especially if the federal government is picking up treat, but it’s not healthy for anyone.” Sachs as a company the city has in- to $11.50 over the next five years. Ⅲ the check. Congress, however, has approved just $9.7

billion of the $60 billion requested colleagues to approve it. in aid. Campaign finance reform may An agreement on gun control happen in piecemeal fashion. In- Crain’s seems at hand. Assembly Speaker siders predict Mr. Cuomo will Midtown East Sheldon Silver has said the Legisla- overcome Republican fears about ture is 95% of the way there. Re- the cost of introducing public fi- First publicans have expressed concerns nancing of campaigns by floating a about limiting gun magazine ca- pilot program rather than full- pacity, but have agreed that a deal blown reform. Look: Rezoning is not far off.Some insiders say that Legalizing casino gaming will Mayor Michael Bloomberg is determined to rezone Midtown East to spur DATE: microstamping of ammunition,fa- be a heavy lift for the governor this vored by police but absent from year, insiders predict. His call for the construction of modern office towers before he leaves office. Why is it Tuesday January 29, 2013 Mr. Cuomo’s agenda, is unlikely to three casinos upstate and none (for so important to add new space to the city’s–if not the world's–most be part of the final package. A deal now) in New York City is already important commercial district? Will it overtake Midtown's infrastructure? PLACE: could be reached as early as this being met with skepticism from The Yale Club of New York Is the Administration's proposal the best for all the interests involved? week. downstate legislators, especially in 50 Vanderbilt Avenue Achievable. A hike in the state’s Queens,who were counting on the New York, NY 10017 minimum wage to $8.75 an hour economic boost from casinos in TIME: from the current $7.25 is at the top their districts. If Mr. Cuomo sticks Networking Breakfast: of Mr. Silver’s list. The governor’s casino legalization in the budget,it 8:00AM - 8:30AM strong backing in his State of the may give him more leverage. Still, Program: State speech suggests that an in- some insiders aren’t convinced. 8:30AM - 9:30AM crease is all but certain. Republi- “How does it pass?” asked one Al- Daniel Garodnick Lawrence Graham Steven Spinola Robert K. Steel cans will demand something in ex- bany source close to the negotia- change to offset the grief they are tions. “He’s going to have to give PANELISTS: COST TO ATTEND: likely to get from business groups. New York City residents some in- Daniel Garodnick $95 for individual ticket(s). The governor said nothing about terest in the game.” Council Member, New York City Council $950 for table(s) of ten. indexing the wage to the rate of in- Pie in the sky. Mr. Cuomo’s 10- Lawrence Graham LIMITED SEATS AVAILABLE flation; omitting that would molli- point plan to strengthen equality Chief Administrative Officer, St. Bartholomew’s Episcopal Church Register Online at: fy Senate Republicans. laws will face strong opposition Steven Spinola www.crainsnewyork.com/ Mr. Cuomo’s call for the de- from Republicans, the Conserva- President, The Real Estate Board of New York events-midtowneast criminalization of possession of tive Party,influential religious lob- Robert K. Steel For more information, call the small amounts of marijuana was a byists and business groups that fear Deputy Mayor for Economic Development Events Hotline at 212-210-0739. loser in 2012 but may well pass this lawsuits against employers. Insid- You must be pre-registered to year.Republicans will likely sit this ers predict these hot-button issues MODERATOR: one out as dissident Democrats led may be a multiyear effort for the Glenn Coleman attend this event. No refunds permitted. by Sen. Jeff Klein join their former governor. Ⅲ Editor, Crain’s New York Business

For sponsorship opportunities, please contact Trish Henry at 212-210-0711 Crain’s Insider, our award-winning politics newsletter, is or [email protected] now a blog. Read it every day at www.crainsnewyork.com/insider

6 | Crain’s New York Business | January 14, 2013 ADT Business Solutions is now

Your business security just got sharper

It’s time to turn to the Number 1 team in business security: Tyco Integrated Security. We’ve got world-class monitoring centers. Thousands of qualifi ed technicians. And a personal passion for helping you protect your business. We’ll help you create powerful security solutions that are customized just for you. And with our team helping you run safer, you can confi dently focus on the future of your business.

That’s sharper thinking.

Steve Young Football Legend

A CCESS CONTROL FIRE INTRUSION VIDEO

www.TycoIS.com 1.800.2.TYCO.IS

Unauthorized use is strictly prohibited. All other marks are the property of their respective owners. BUSINESS

of U.S.5% law firms plan to cut 11 to 20 partners this year, up from 1.2% in 2012 PEOPLE Source: American Lawyer

EXECUTIVE MOVES

Music & Arts: Steve Zapf, 46, joined the band and orchestra instrument and lesson retailer as president. He was previously executive vice president of multichannel management for Guitar Center. Birthright Israel Foundation: Jennifer L. Goldstone, 39, joined the nonprofit as chief operating officer. She was previously co-executive partner at SeaChange Capital Partners. TuneCore: Art Shaw, 53, was appointed board member of the music distribution company. He continues his role as chief executive at RepairPal. Akerman Senterfitt: Beth Zafonte, 53, was appointed board member at the law firm. She continues in her role as director of economic development services. American Diabetes Association: Kevin Shippy, 57, joined the nonprofit as executive director. He was previously executive director at the March of Dimes. The Sound Research: Harjot Bassra, 32, BATTLE-TESTED: Alex Peña was promoted to partner at the made it back to New York from advertising and marketing company. Iraq and builds bicycle She was previously vice president, computers at Flywheel Sports. global projects. LISTEN to a discussion at DMCG Holding Corp.: CrainsNewYork.com/podcasts Bruce Guzowski, 59, joined the medical education marketing and communication company as chief executive. He was previously president buck ennis and chief executive at HCPro Inc. GOTHAM GIGS Metropolis: Suzanne Tron, 50, joined the magazine as executive publisher. She was previously chief revenue officer at Architizer. Sagin: Mary Olson-Menzel, 43, joined the management consulting firm as managing partner. She was previously From bombs to bikes managing partner at Ascend Executive Search. Deloitte: James Kroeker, 43, joined the accounting firm as deputy managing A former soldier puts the pieces back together partner in its professional practice, a newly created position. He was Alex Peña disarmed more than 400 roadside scared the first time we went out of the wire,” previously chief accountant at the U.S. Securities & Exchange Commission. The combat bombs at the height of the Iraqi insurgency in said Mr. Peña, 27. “The enemy buried IEDs Bluefin Labs: Scott Grunther, 42, joined 2006.The question the former Army combat everywhere.” ¶ Insurgents learned from Mr. the social-TV-analytics company as engineer senior vice president and general engineer gets now from co-workers at Flywheel Peña’s success. About 40 times, undetected manager of Bluefin Labs Media detected Sports in the Flatiron district or neighbors in bombs blasted into Mr. Peña’s Buffalo. Once, the Products, a newly created position. He Washington Heights is whether war movies like 23,000-pound vehicle jumped six feet into the was previously senior vice president at hundreds Nielsen IAG. The Hurt Locker bear any resemblance to his air. “You don’t hear anything,” Mr. Peña recalled. Optimedia: Jason Hoffman, 37, joined of enemy experience.The answer is no. He did not wear a “You’re very disoriented. You start patting the advertising and marketing firm as senior vice president, digital. He was spaceman’s outfit of puffy body armor. “The size yourself and looking for signals.” Comrades died, previously head of U.S. digital media explosives. of the bombs we were dealing with would have but Mr. Peña made it back to New York. It was and strategy at OMD. New York Lawyers for Some hit torn that little suit apart,” he said. ¶ While “an adjusting mission,” he said. “People looked at the Public Interest: deployed, the soft-spoken native of the me different. I looked at them different, too.” ¶ McGregor Smyth, 38, their target Dominican Republic slept during the day inside Growing up in New Jersey, he’d take apart toys to joined the nonprofit as executive director. anyway a U.S. base. Under the cover of night, he’d climb see how they worked.Then he’d solder them He was previously into the Buffalo, a six-wheeled armored vehicle back together. At Flywheel Sports, he builds managing attorney of the civil action with a 30-foot mechanical claw.The 54th computers for indoor bikes that help cyclers track practice and director Engineer Battalion’s mission: find, dig and their workouts. “Things coming together, and of Re-entry Net at the Bronx Defenders. detonate improvised explosive devices from the things coming apart,” he said. “That’s something Richter + Ratner: Nancy Erardi, 36, roads of downtown Ramadi. “I remember being I’ve always been interested in.” —jeremy smerd See EXECUTIVE MOVES on Page 10

8 | Crain’s New York Business | January 14, 2013 Planning a city’s future is Kevin’s business. We’re proud he’s made it our business, too.

At Time Warner Cable Business Class, we listen to your needs, offer advice and deliver best-in- class solutions. That is why Kevin came to us. Together, we set up Dedicated Internet Access and Cloud Services to help him share files faster, videoconference easily and stay connected to his team. We helped Kevin bring his ideas to life. And we can do the same for you. To learn how, call us for a consultation today.

1.877.615.4332 | TWCBC.COM

INTERNET | VOICE | TELEVISION | NETWORK SERVICES | CLOUD SERVICES

Products and services not available in all areas. Actual speeds may vary. Some restrictions apply. Time Warner Cable Business Class is a trademark of Time Warner Inc. Used under license. ©2013 Time Warner Cable. All Rights Reserved. Continued from Page 8 CORPORATE LADDER joined the construction firm as vice president. She was previously senior managing director at ACC Construction. A TALENT FOR EXECUTIVE SEARCH Thornton Thomasetti: Scott Lomax, 37, LORI HOCK considers herself lucky to work for her boss, Manolo Marquez, chief executive of Hudson Global Inc., a high-end joined the engineering firm as vice talent management and acquisition company. “He provides very focused direction,” she said. “To me, one of the most president. He was previously chief important things is working for someone with such vision and cultural understanding of the company.” That admiration is one structural engineer for Santiago Calatrava. reason why Ms. Hock, 49, was recently appointed chief executive for subsidiary Hudson Americas, which earned $934 Eastern Consolidated: Michele Nicoletta, million in revenue in 2011. 36, joined the real estate investment Her track record is another. Ms. Hock, previously group president of managed service provider solutions for the services firm as associate director. She Americas at Adecco, profitably managed a recruitment business with a strong information-technology client base—a was previously managing director and combination ideal for Hudson. Ms. Hock will help build Hudson’s e-discovery business: technology-assisted review of head of credit trading at Standard documents and material for mergers and acquisitions and for litigation. “We wanted someone who had grown a Chartered Bank. McKool Smith: John Briody, 38, was business from scratch, someone who had been involved in a business’s transformation,” said Steve Zales, chief promoted to principal at the law firm. knowledge officer. “Companies create specs for positions, asking for the world and expecting to get it. Usually they have He was previously an associate. to compromise. But in this case, there were no compromises. Lori had all the things we were looking for.” —EVA SAVIANO Radu Lelutiu, 36, was promoted to principal. He was previously an associate. Jones Day: Gasper J. LaRosa, 39, was promoted to partner BUSINESS OWNERS in the law firm’s join the thousands of New Yorkers intellectual-property who have reduced their energy use, practice. He was gotten millions of dollars in incentives, previously an and helped the environment. associate. Kelly A. Carrero, 36, was promoted to partner in its financial institutions litigation and regulation practice. She was previously an associate. Happold Consulting: Ariella Rosenberg Maron, 36, joined the strategic management company as associate 1-877-870-6118 principal. She was previously deputy commissioner for the Division of conEd.com/GreenTeam Energy Management at the Department of Citywide Administrative Services. Olshan: Elizabeth R. Gonzalez, 33, was promoted to partner in the law firm’s corporate group. She was previously an associate. Jordanna L. Nadritch, 34, was promoted to partner in its bankruptcy and financial restructuring group. She was previously an associate. Jonathan H. Deblinger, 35, was promoted to of counsel in its corporate group. He was previously an associate. Citrin Cooperman: Peter Baum, 50, joined the accounting and consulting firm as a partner. He was previously a partner at Imowitz Koenig & Co. Dechert: Mauricio España, 34, was promoted to partner at the law firm. He was previously an associate. Thomas Rayski, 42, was promoted to partner. He was previously of counsel. I GOT Herrick Feinstein: Richard Kalikow, 63, joined the law firm as a partner. He was previously a partner at Diamond McCarthy. Wilson Sonsini Goodrich & Rosati: Lucy Yen, 35, was promoted to partner at the law firm. She was previously an associate. DataWatch Systems: Michael Schindel, 53, joined the building access control system company as regional sales manager. He was previously director of national ENERGY accounts at RIS Media. The Marketing Directors: Laura Green, 23, joined as marketing coordinator. She was previously marketing associate at Siegel + Gale. L.E.K. Consulting: Joe Johnson, 34, was promoted to partner at the management consulting firm. He EFFICIENT was previously vice president. ©2013 Consolidated Edison Company of New York, Inc. Ad: Arnell Group ©2013 Consolidated Edison Company of New York, WITHOUT BREAKING A SWEAT —eva saviano EXECUTIVE PROMOTIONS The fastest way to get an announcement into Crain’s is to submit online. Fill out the form BUSINESS OWNERS, GET ENERGY FIT TODAY. at www.crainsnewyork.com/section/ executive_moves. The Executive Moves column is also available online.

10 | Crain’s New York Business | January 14, 2013 :V/VPU4PK[V^U the bryant collection at 25 West 39th Street  -0-;/(=,5<, ,U[PYLUK! YZM ,U[PYL[O!YZM -\SSÅVVYPKLU[P[`·MYVT[V 7VZZLZZPVUPZ0TTLKPH[Lc;LYT![V`LHYZ YZM*VU[PN\V\Z ‹*YLH[P]L6MÄJL:WHJL ‹,SLNHU[IV\[PX\LSHUKTHYR ‹-\SSÅVVYPKLU[P[` ‹/PNO*LPSPUNZ ‹+PYLJ[,SLJ[YPJ ‹(YJOP[LJ[\YHSS`+PZ[PUJ[,SLNHUJL

‹3HUKSVYK[VI\PSK ‹;LUHU[JVU[YVSSLK/=(* ‹  *SHZZPJZL[[PUN^P[OL_JLW[PVUHSL_WVZLKJLPSPUNZ ‹*VUJPLYNL([[LUKLK3VII`^P[O ‹;LUHU[JVU[YVSSLK/=(* 4H_PT\T:LJ\YP[`

Christel Engel | 212.716.3567 | [email protected]

Michael Baraldi | 212.716.3505 | [email protected] THORR EQUITIES OPINION CRAIN’S Cuomo agenda needs a plan NEW YORK BUSINESS editor in chief Rance Crain publisher, vp Jill R. Kaplan

he ambitious agenda laid out last week by Those goals seem contradictory. EDITORIAL Gov. Andrew Cuomo includes a number We also await details of his workers’ compensation reform, editor Glenn Coleman although the promise of reduced assessments on employers is managing editor Jeremy Smerd of worthy goals and policy proposals, as deputy managing editors Valerie Block, well as several that deserve more scrutiny. encouraging. Between the fixes to these two programs, the Erik Ipsen governor projects $1.3 billion in savings to businesses. assistant managing editor Erik Engquist There was little explanation in his senior producer, news Elisabeth Butler Cordova State of the State address, for instance, of Most of the dollar references in Mr. Cuomo’s speech, news producer Amanda Fung however, involved spending.There was a $1 billion contributing editor Elaine Pofeldt how he would pay for new programs columnists Greg David, Alair Townsend while keeping to his position that taxes should not be raised. affordable-housing program and a $1 billion “green bank” to crain’s health pulse editor Barbara Benson The governor promised a renewed push to hike New help spur the clean-tech industry.There also were solar- senior reporters Theresa Agovino, T Aaron Elstein, Lisa Fickenscher, Matthew Flamm York’s minimum wage, which has not been raised since panel subsidies, electric-car charging stations, full-day pre- reporters Chris Bragg, Daniel Geiger, Andrew J. Hawkins, Annie Karni, 2004. An increase from the current $7.25 an hour surely is in kindergarten for needy students, a longer school day or Adrianne Pasquarelli order, but not to a consensus-busting $8.75 all at once. school year (or both), a web reporter, producer Nazish Dholakia And he declared that the first three casinos to be allowed major tourism- art director Steven Krupinski How to pay for all deputy art director Carolyn McClain under a pending constitutional amendment would be upstate. marketing campaign, staff photographer Buck Ennis public financing of copy desk chief Steve Noveck Vegas-style gambling venues in any of the five boroughs the governor’s copy editor Thaddeus Rutkowski would be virtual mints for the state—Resorts World Casino state elections and a data editor Suzanne Panara new programs? program to elevate or assistant data editor Emily Laermer at the Aqueduct racetrack in Queens, even without human researchers Eva Saviano, Amy Stern dealers, is doing brisk business—but it’s hard to dispute that buy flood-prone intern Ali Elkin upstate needs more help right now than the city does. houses. ONLINE AND INTERACTIVE SERVICES We were gratified to hear that Mr. Cuomo plans to revamp It’s easy to see the price tag for those efforts reaching 11 senior web developer, interactive the unemployment insurance program, which essentially has figures. It’s also easy to envision Albany dealmakers funding Chris O’Donnell been insolvent for a decade. It subsists on federal loans that many of these causes through new fees. Here’s the hard ADVERTISING, MARKETING AND PRODUCTION advertising director Trish Henry could ultimately stick businesses with massive interest truth: The state is already facing a $1 billion budget deficit senior account managers Irene Bar-Am, charges. But the governor is asking them to pay off the debt and the prospect of reduced funding from a stingy Congress. Courtney McCombs, Suzanne Wilson account executive Jill Bottomley Kunkes faster than planned. He must spell out how he would Even if Washington comes through with tens of billions of sales coordinator Danielle Wiener replenish the system without breaking employers, and how he dollars in storm aid, that money can’t be spent on teachers. newsletter product manager Alexis Sinclair credit Todd J. Masura (313-446-6097) would raise benefits to the unemployed while increasing their The governor still must offer a credible plan to make his director, audience development incentive to find work and not commit fraud, as pledged. soaring words last week a reality. Michael O’Connor senior marketing manager Catherine Schutten event producer Courtney Williams reprint sales manager Lauren Melesio CRAIN’S ONLINE POLL COMMENTS production and pre-press director Michael Corsi advertising production manager Suzanne Fleischman Wies Pity city’s poor GOP TO SUBSCRIBE: For print and digital subscriptions or customer service, e-mail [email protected] or call 877-824-9379 (in the U.S. and Canada) or NO CANDIDATES, out of state or succumb to Queens (In the Boroughs, Dec. 313-446-0450 (all other locations). $3.00 a copy for NO MONEY old age. 17), it should also consider the print edition; or $99.95 one year, $179.95 two There has been no restoration of the railway. A years, for print subscriptions with digital access. “Manhattan GOP essentially successful GOP outreach to direct 30-minute ride from JFK www.crainsnewyork.com/subscribe bankrupt” (The Insider blog, new Caribbean, Hispanic, airport to midtown would be a TO ADVERTISE: WILL GOV. ANDREW Jan. 7) goes hand in hand with Asian or other immigrant game-changer for tourism and Contact Advertising Director Trish Henry at CUOMO’S CALL FOR A BAN the party’s not having offered groups, or to middle-class business in New York. [email protected] or call 212-210-0711. ON ASSAULT WEAPONS Democrats serious African-Americans. Some 30,000 daily riders www.crainsnewyork.com/advertise competition for public office Once New York County would generate $100 million in FOR INFORMATION ON OUR EVENTS: MAKE A DIFFERENCE? on the city, state or federal Republicans lose any City fares and take thousands of cars Contact Event Producer Courtney Williams at level in years. Council, state Assembly, state off the roads. Delta and [email protected] or 212-210-0257. More restrictions would help reduce gun The citadel of liberal Senate or congressional seat, JetBlue, which have invested www.crainsnewyork.com/events violence. Republicans based on the East they are never able to reclaim it. billions in facilities at JFK, TO CONTACT THE NEWSROOM: Only a nationwide ban will work. Side was eliminated years ago. The Manhattan GOP went would love to see thousands of Neighborhoods formerly the way of the dinosaur long business travelers attracted by 711 Third Ave., New York, NY 10017-4036 Fix the mental-health system instead. represented by the late Rep. Bill ago. this convenience. editorial phone: 212.210.0277 fax 212.210.0799 Date of poll: Jan. 9 Entire contents ©copyright 2013 Crain Communications Inc. Green, state Sen. Roy —larry penner Advocates of restoring the All rights reserved. ®CityBusiness is a registered trademark 129 votes Goodman, City Councilmen Great Neck, L.I. Rockaway line have always of MCP Inc., used under license agreement. Charles Millard and Andrew envisioned parallel jogging and CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS Eristoff and Assemblyman AN EVEN HIGHER LINE biking trails, playgrounds and John Ravitz are now safely in parks. With sponsors like chairman Keith E. Crain FOR QUEENS Rance Crain Democratic hands. airlines, hotels and the president 39% 24% treasurer Mary Kay Crain Crossover Ed Koch-style Attention, Joseph Sitt and the Aqueduct racino, funding of Cindi Crain Democrats who voted for Global Gateway Alliance to these amenities would be no executive vp, operations William Morrow Presidents Ronald Reagan improve New York’s airports problem. And the elevated senior vp, group publisher Gloria Scoby and George Bush (both), (“Airport group’s boarding railway would be a lifesaver in group vp, technology, circulation, Gov. George Pataki, Mayor call,” Jan. 7): If the state is evacuating thousands of elderly manufacturing Robert C. Adams 37% Rudy Giuliani and Mayor spending a half-million dollars and infirm Rockaway residents vp/production, manufacturing David Kamis Michael Bloomberg continue to study a “High Line” on the in a major storm. chief information officer Paul Dalpiaz to move out of town, retire Rockaway right-of-way in —art nudell founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) secretary Merrilee Crain (1942-2012) FOR THIS WEEK’S QUESTIONS: CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 Go to www.crainsnewyork.com/poll to have your say. words or fewer to [email protected]. Please include the writer’s name, company, address and telephone number.

12 | Crain’s New York Business | January 14, 2013 AMY ROSEN AND MARIA PINELLI

children from low-income commu- From foster child nities to stay in school, recognize business opportunities and plan for the future. Ours, the Network for to entrepreneur Teaching Entrepreneurship,has dis- covered that when at-risk youth are taught entrepreneurship, their street hen Rodney Walker was 5,his parents were smarts can develop into academic arrested on drug charges.He spent the next and business smarts.With help from entrepreneur mentors, they create decade slogging from one foster home to business plans and execute them, another, each year falling further behind while gaining the motivation to con- academically and socially. tinue their education and break the Today Rodney is 23, has a bachelor’s degree and is pursuing cycle of poverty. Rodney and thou- W sands of others are living proof. dual graduate degrees at Yale. What put him on track for suc- Unfortunately, for every Rodney cess? Rodney discovered the entrepreneurial spirit. At 15, he Walker,thousands of kids don’t ben- efit from this critical guidance. was introduced to an entrepreneur- of New York. And what hope do Schools cannot do this alone. They ship program run by a nonprofit they have of finding a job with a liv- are too financially stretched to run working in his school.Rodney start- ing wage? Not enough. The city’s quality entrepreneurship programs ed a video production business that teen unemployment rate hit 35.6% without outside support.That’s why showed him he could climb out of last summer, according to the Em- it is vital that New York businesses poverty and apply his schoolwork to ployment Policies Institute. large and small support efforts to the real world.He earned admission What is the secret to lifting young send entrepreneurs into the class- to Morehouse College and aims for people out of poverty, providing room and mentor kids. a career in finance. them with good jobs and spurring In New York City, at-risk young business growth? There is none. It Amy Rosen is president and CEO of the people—like Rodney was—need takes long-term vision,resources and Network for Teaching Entrepreneurship. our help. One in three children here strong public-private partnerships. Maria Pinelli, NFTE’s board chair, is lives in poverty, according to the Fortunately, there are nonprofits global vice chair for strategic growth Citizens’ Committee for Children that for decades have been teaching markets at Ernst & Young. Pay hikes would bust city budget

hould city employees ever get a pay raise again? It’s not a facetious question. Neither is wondering how the city might afford any pay increase. The issue should come into focus early next month, GREG DAVID when Mayor Michael Bloomberg presents his finan- cial plan for the 2014 fiscal year, which begins in July. On the S billion pile-on to the deficit for 2014 surface, everything is copacetic. The Independent Budget Of- alone. The cost in each of the next fice estimates the gap in the 2014 budget at $811 million, or two years would be more than $6 bil- lion (see chart). 1.6% of city-generated revenue.This hikes, and budget experts agree he’s By the way, there are other com- is small by historical standards and telling the truth. (New York City plications, including the unfortu- can be dealt with relatively painlessly. mayors used to hide money for such nate fact that the annual cost of put- One problem is that the mayor is purposes.) He says any increases ting money away to pay for counting on $790 million from the must be paid for with productivity promised pension benefits is no less sale of new taxi medallions, which a gains,a theory the IBO says is polit- than $8 billion, and the price tag for judge last year ruled had been enact- ically impractical. other benefits (primarily health ed illegally. If the decision is not re- So let’s say city workers win care) will reach $4 billion next year. versed and the medallions aren’t retroactive pay increases at the rate of So there’s no way any mayor sold, the problem doubles but re- inflation (3% or so).That would cost could agree to these kinds of budget mains manageable. almost $4 billion in 2014. If the hits, right? No. Raises are a different story. Most teachers get inflation-based hikes for Every one of the four Democra- city unions have been working with- the 2008-2010 period they worked tic candidates for mayor is desperate out contracts since 2010. Teachers without a contract, the bill would be for the endorsement of the city and the city have been at odds since $5 billion.The 2014 raises for teach- unions, starting with the United 2008. The mayor says he has set ers and all city workers would add an- Federation of Teachers. It doesn’t aside no money for retroactive pay other $1 billion. That’s a total $10 take a genius to figure out the unions’ top priority is a contract THE HIGH COST OF LABOR with retroactive pay increases. No one is about to announce a Impact of city worker pay hikes (in millions) deal during the mayoral campaign.It 2014 2015 2016 is crucial that all the candidates be Future increases at rate of inflation $1,150 $2,787 $2,615 confronted with the city’s fiscal real- ities and that they be asked to be clear Retroactive 2010-12 increases $3,917 $904 $904 about how they’d deal with retroac- Retroactive 4% teacher raises, 2008-10 $5,032 $2,698 $2,698 tive pay raises for city unions. The more a candidate ducks the issue TOTAL HIT $10,099 $6,389 $6,217 with platitudes, the more voters will Source: Citizens Budget Commission know not to choose that person.

January 14, 2013 | Crain’s New York Business | 13 SMALL BUSINESS Startups break language barriers New York’s diverse lion annually. “We couldn’t have dozen language-services firms, ac- ing it more efficient for businesses to grown if we didn’t open in New cording to Common Sense Adviso- break down language barriers in talent pool attracts York, a hotbed for people who do ry.“Being in New York City,with its emerging markets in Asia, South what we do,” she said. proximity to other like-minded tech America and Northern Europe, firms to burgeoning Known as both a cultural melting companies, has many advantages,” where there’s been an explosion in pot and tech said Nataly Kelly,author of the book mobile computing. These startups translation field hotbed, New Found in Translation:How Language are peddling solutions like Web- York City is 24% Shapes Our Lives. based services that enable users to BY MAGGIE OVERFELT reaping the ben- PROJECTED One big plus is the ability to find dial up translators on their smart- efits of a surge in INCREASE in the engineers. “Wall Street’s problems phones or dashboards that allow or two years, growth at the increasingly number of of the last few years have probably companies to drastically cut the Terena Bell’s language- tech-enabled translators in the helped nonfinancial companies in time it takes to translate websites U.S. from 2006 to services firm, In Every international 2013 the city get more of the talent that into dozens of dialects. Language, wasn’t oc- language-serv- Source: U.S. otherwise would have been attract- curring at the rate she ices market, a Department of Labor ed to the outsize salaries,” said Don Lucrative market buck ennis GOING GLOBAL: Smartling’s Jack Welde is Fwanted. But things changed last $34 billion in- DePalma, Common Sense Adviso- Smartling, a four-year-old mid- pursuing multinational corporate clients for May, when she opened a Brooklyn dustry on track to grow 12% this ry’s founder. town firm, helps clients like Nokia his firm, which translates websites. office of the profitable six- year, according to Cambridge, Certainly, any new language- more efficiently manage transla- employee company. Tapping New Mass.-based research firm Com- services firm must,according to Mr. tions of websites and all their intri- York’s multilingual talent pool, Ms. mon Sense Advisory. DePalma, “convince prospects that cate code. Its first customers were venture funding. Bell was able to take on much more they’re superior to alternatives such Web 2.0 companies like Foursquare, One advantage of being New work translating marketing, pack- Mobile options as the lowest-price bidder or free but today the 55-employee firm is York-based, says Mr. Welde, has aging and research materials for Made up mainly of corporations services such as Google Translate or chasing a more lucrative market: been 100% retention of its 36 engi- Fortune 500 corporations at the that sell translation software or serv- Microsoft Translator.” global enterprises.Firms like Kodak neers, who speak 12 different lan- Louisville, Ky.-based firm, founded ices,the field is dominated by estab- However, many startups are make up about 20% of its client base. guages. “Our diverse, multicultural in 2005. lished firms like TransPerfect, a sidestepping direct competition by Many use its services to launch and and multilingual team reflects the Ms. Bell, whose clients have in- $300 million translation services offering solutions focused on easing translate trade-show websites and nature of this city,” he said. Ⅲ cluded firms such as Walt Disney provider in Manhattan that made the laborious translation process— other international hubs. Parks and Resorts and the Mr. Crain’s list of fastest-growing com- which usually involves a team of hu- Smartling’s founder and CEO, To sign up for Crain’s Clean brand,says the company is on panies in 2012. man interpreters handling hun- Jack Welde, said that revenue is in- SMALL BUSINESS newsletter, go to track to achieve its second-highest It’s also attracting startups. New dreds of documents. creasing by 50% each quarter. The www.crainsnewyork.com/smallbiz. year in revenue, now under $5 mil- York is now home to at least a half- A new wave of such firms is mak- company has raised $9 million in Gap buy signals growth in retail M&A market

deadline. Additionally, private-eq- “This is an opportunity for Inter- Intermix purchase MASS MARKET WEDS CLASS ACT uity firms often burden firms with mix to get to the next level,” said Gap Inc. just purchased smaller rival Intermix debt that can be difficult to over- Michael Londrigan, chairman of comes as industry come. Linens ’n Things liquidated the fashion merchandising depart- seeks ways to boost in 2008, three years after a $1.3 bil- ment at LIM College. He noted lion acquisition by Apollo Manage- that Intermix should remain a sepa- customer base ment, for example.Conversely,large rate entity,though.“If they start try- retailers, which are attuned to the ing to utilize Gap for merchandising demands of the industry, have more and design for Intermix, that would BY ADRIANNE PASQUARELLI realistic expectations and are more be a mistake,” he said. interested in long-term gains. Similarly, the $290 million pur- Retail consolidation is back in style. “Private-equity companies gen- chase of 80% of Los Angeles-based J Mass-market clothier Gap Inc.’s re- erally want to exit their investment Brand last month was just a drop in cent $130 million purchase of con- in five years or less, and that puts the bucket for $11.8 billion Fast Re- temporary fashion chain Intermix is tremendous pressure on the [retail] tailing, but it gives the larger compa- just the latest in a string of arranged founders to grow on a schedule that ny an increased exposure in denim. industry marriages. may not line up with the economy Though Fast Retailing also owns “Different types of companies vs and consumer palate,”said Kim Ver- are getting into the acquisition mix non, chief executive of consultancy and creating some interesting pair- Vernon Co. “If I were a brand today, ‘If I were a ings,” said Alison Jatlow Levy, a re- I would go to a strategic acquisition.” tail strategist at consulting firm Kurt brand today, Salmon. Gaining a foothold Following a lackluster holiday For Gap, the advantages of buy- I would go season and years of stunted growth, ing Intermix this month are clear. stores are grasping for new strategies acquired a majority stake in upscale loaded it down with debt. In fact, it The San Francisco-based retail gi- to a strategic to expand their global presence and denim label J Brand. Teen retailer sold off its namesake and is now ant gains a foothold in the designer- attract new consumers. Sales during Aéropostale Inc.acquired Canadian known as Fifth & Pacific Cos. Like- driven, higher-end world—a new acquisition’ the crucial holiday shopping period e-commerce company GoJane.com wise,Kellwood Co.,which owns Sag category for the $14.5 billion firm. increased only 0.7% this past year this past fall to bolster its online Harbor and Rebecca Taylor, among Five years ago, Gap made a similar compared with 2011—the smallest operation. other labels, faced near-bankruptcy move into uncharted territory with gain in four years—according to a in 2009 after piling up huge debt its $150 million acquisition of ac- SpendingPulse report released by Climate is right during the recession. tivewear brand Athleta. MasterCard Advisors.In 2011,sales Such purchases are an easy Still, the current environment is Twenty-year-old Intermix, on Theory and Comptoir des Coton- rose 2% for the same period over growth strategy for larger retailers once again right for retail consolida- the other hand, can use the global niers, it still has not made great in- 2010. that have exhausted their own glob- tion as larger companies like Gap reach of Gap, which has stores in 90 roads with American sportswear and Though private-equity firms al store fleet and need to beef up rev- look to grow without oversaturating countries, to expand internationally could use the increased U.S.exposure. had been big retail buyers in the ear- enue through other corridors. the market and smaller firms look and to venture into its own private- “Fast Retailing is gaining a prod- ly part of the last decade,retailers are Brand acquisitions, however, for financial white knights. label business. The transaction also uct expertise in a category they now looking to spur their own don’t always work out.Liz Claiborne Retail experts say that an acqui- gives the smaller company,which re- haven’t nailed the way they’ve nailed growth through acquisitions. In ad- Inc. has spent the past few years un- sition by a larger retail rival is prefer- portedly generated sales of about cashmere,” said Ms.Vernon. Mean- dition to Gap’s buying Intermix, loading all but three of its 40 brands, able for most brands, since private- $125 million in 2011, an edge over while, J Brand, like Intermix, gains Tokyo-based Fast Retailing Co. acquired during a 1990s shopping equity investors usually have a strict longtime rival Scoop, another New more marketing and distribution Ltd., the parent of Uniqlo, recently spree that bloated the company and growth strategy that includes an exit York-based chain,with 13 locations. muscle. Ⅲ

14 | Crain’s New York Business | January 14, 2013 Looking Back, Looking Forward.

2012 was a tremendous year for Handler Real Estate Organization – and we’re excited for what the new year will bring. Handler continues to be a driving force in the leasing and management of premium commercial properties in New York City and beyond. Year after year, we’re hard at work, making deals, growing our practice and serving our clients. Here are just a few of our successful accomplishments from this past year:

s%XPANDEDOURTEAMWITHPROMINENTSENIOR LEVELBROKERS s#ONTINUEDTOGROWOURTENANTREPRESENTATIONANDCONSULTINGSERVICESTHROUGHOUT New York City and the greater metropolitan area s!CHIEVEDOVEROCCUPANCYAT561 7th Avenue, 263 West 38th Street and 315 West 39th Street s3IGNEDPOPULAR)RISHPUBTir Na Nog who opened a spectacular new restaurant at 7ESTTH3TREET s%XPANDED Kee’s ChocolateTOTHEIRTHIRDLOCATIONAT7ESTTH3TREET s#OMPLETEDFOURMORE.9#EXPANSIONDEALSASNATIONALLEASINGAGENTFORGROWING consignment chain Second Time Around s3IGNEDlRST53LOCATIONOF,ONDON BASEDCHAINWasabi Sushi & Bento for flagship .9SPACEAT3EVENTH!VENUE

(ERESWISHINGYOUGOODHEALTH GREATJOYANDCONTINUEDSUCCESSINTHE.EW9EAR7ELOOK forward to working with you in 2013.

561 SEVENTH AVE, 15TH FL NY, NY 10018 212.398.1888 HANDLER-RE.COM IN THE BOROUGHS MANHATTAN

the plans. FROM “It’s hard to fight with the B’way bike lanes AROUND [Americans With Disabilities Act], but we don’t really like the ramps,” Continued from Page 3 biking that people know that is sup- THE CITY said Sean Sweeney, a community bound-only lane. posed to be a lane of traffic,” ex- MANHATTAN board member and president of the In short, four years after those plained Barbara Blair Randall,pres- SoHo Alliance.“It detracts from the seven blocks served as an early test- ident of the Fashion Center SoulCycle hits building and the neighborhood. ing ground for Mayor Michael Business Improvement District, They should go somewhere else Bloomberg’s vision of the 21st-cen- who led the push for the changes. cast-iron bump with more space for a ramp.” tury city street, there’s one thing Although bicycle commuting in the All gyms in the city require a spe- bike advocates and the naysayers city doubled between 2007 and The cult spin studio SoulCycle is try- cial permit from the Board of Stand- both agreed on: The plan 2011 and the city aims to ing to open a branch at 45 Crosby St., ards and Appeals,which reviews the needed work. GARMENT triple that number over a narrow cobblestone street east of signage, lighting, noise and proxim- “This project was a critical DISTRICT the next five years, the Broadway in the landmarked SoHo ity to residential units before giving first act for a new Broadway, BIKE/ Broadway bike lane cast-iron district. But the calorie- the green light. But if the gym has which in a few short years has PEDESTRIAN remains nowhere near burning stationary-cycle palace, the added distinction of being with- transformed into one of the PATHWAYS capacity. which charges $32 a class and draws in a landmarked district,it must also annie karni annie world’s premier commercial Instead, on a pleasant GREAT TIGHT WAY: Bikers and pedestrians such boldface names as Kelly Ripa, gain approval from the Landmarks corridors,” DOT Commis- $300K weekday afternoon re- try to coexist on Broadway. Katie Holmes and Lena Dunham, is Commission. sioner Janette Sadik-Khan ANNUAL cently, it was packed facing community opposition. Last week, the commission vot- said in a statement recently. maintenance with people strolling or In converting the space from a ed to approve the ramp, overruling Be that as it may, after a cost to BID chatting on their cell- ing place for the homeless.” mixed-use commercial building to a the thumbs-down from the com- year of pressure from the com- phones. And then there To address that problem, the “physical culture establishment,” munity board. munity, that project is about were the clusters of BID is chipping in money and im- SoulCycle is required by the city to A spokeswoman for SoulCycle to get a makeover. In April, 930 smokers intent on stak- provements of its own.It has tapped install an access ramp,which already had no comment and would not say CYCLISTS using the scheme will be revised. lane in recent ing out the green lane as architect James Biber to design new has neighbors up in arms. Earlier when the gym is expected to finally 12-hour span the last refuge of the street furniture and planters for the this month, Community Board 2’s open its doors. Street realignment puffing class. area. They will debut along one landmark committee voted against —annie karni The new design “is ex- “I got run over by a block of Broadway between West pected to provide more 30% longboarder and almost 39th and West 40th streets this win- PORTION of pedestrian space and clearer outdoor furniture hit by bikes so many ter. Meanwhile, Ms. Randall is smooth sailing through here? I’d than ever in the area as it evolves delineations among foot, car that disappears times,” said Samantha pushing the DOT to light the plaza rather have more space to sit.” from a longtime center of garment and bike traffic,” a city annually Paluba, a nonsmoker at night to discourage people from Transit advocates agree the re- manufacturing to a more diverse spokesman said. A slimmer and the manager of the sheltering there. design will create a safer street. mix of tenants. bike lane with a three-foot buffer Coffee Bean on Broadway and West “Broadway has the densest “It’s still considered the garment will be moved to the west side of 39th Street. “I’d be happy to see the Changes needed pedestrian flow in North America, district, but 50% of tenants are gen- Broadway,and the plaza will expand bike lane moved away from the front Many workers in the area say the and pedestrians deserve the lion’s eral office use,” Ms. Randall said. from 13 to 20 feet wide.Two of four door.” changes are overdue. share of public space,” said Paul Over the past few years,a score of car lanes will be combined into one In addition to pedestrian safety, “I’m pro-bike lane, but we’re near Steely White, executive director of hotels have opened in the district. lane of parking. In retrospect, that the Fashion Center BID sees anoth- Times Square,” said Jon Spicyn, 27, a Transportation Alternatives. “We’re Another 11 are under construction. green line may have just been a bit er problem with the Broadway legal assistant who works in the area looking at safety and then how com- “That’s putting more consumers on ahead of its time. plaza. and was eating lunch in the plaza on fortable it is to be a pedestrian there.” the streets from a new source,” she “The city hasn’t yet reached a tip- Its planters have become, in the a recent sunny afternoon. “Do those The redesign comes at a time said. The new streetscape aims to ping point where there’s so much words of Ms. Randall, “a secret hid- bikers really think it’s going to be when there are more pedestrians better accommodate them. Ⅲ Macy’s shows big gains on Web

Continued from Page 3 had a hard time tying systems to- the muscle advantage. Inc. in a recent research report. gether,” said Sucharita Mulpuru, a It’s been using that muscle to im- Macy’s Internet transactions vice president and principal analyst prove the way customers find inven- crossed the $2 billion mark for the of e-business at Forrester Research. tory. In late 2011, Macy’s piloted a first time in 2012, according to a “Macy’s has done a really good job “store-to-door” strategy in which company spokesman. (The publicly of recognizing those challenges and stores, in addition to warehouses, traded company will report full-year is probably one of the most ad- were used as fulfillment centers for results at the end of February.) vanced of the department stores as a online orders. The system specifi- Macy’s is banking big bucks on such result.” cally targets the Macy’s locations digital upgrades. Macy’s still faces some tough with an overflow of specific items,so Though Macy’s spent $764 mil- competition, however. Nordstrom, that the store can move the mer- lion in 2011 on capital expendi- chandise without resorting to dis- tures—a 51% rise over 2010—the counting at the end of the season.By spokesman declined to say how ‘They’re not late last year, the program had been much of that was spent solely on the rolled out to nearly 300 stores. digital sector. The company’s share likely to lose About 10% of online purchases are price rose 19% in 2012 and current- currently fulfilled by stores. ly trades at about $37. a customer for In July, Macy’s also added a 1.3 million-square-foot distribution Tough competition an item being center for e-commerce orders in Such growth is in stark contrast Martinsburg, W. Va., its third such to five years ago, when Macy’s was out of stock’ warehouse.

losing market share to new digital “They’ve had a real break- buck ennis competitors like Gilt Groupe. through in terms of how they gain TOUCH-UP: As one of Macy’s new technological innovations, shoe department employees use Shoppers complained about access to available inventory versus a iPod Touches instead of cash registers to ease checkout. customer service and a website that year ago,” said Bob Grayson, was difficult to navigate. The the Seattle-based department store founder of retail consultancy department-store chain, which also known for its customer service, re- Grayson Co. “They’re not likely to foot video-screen displays illustrat- tiative that has been rolled out to 50 owns Bloomingdale’s, is finally see- ported an 8.6% increase in same- lose a customer for an item being out ing outfit combinations that vary stores so far. ing the fruits of a 15-year-old Inter- store sales during the holidays. Sev- of stock.” images throughout the day. “Digitally, they’ve crossed the net strategy that has undergone its eral off-price brands—including In-store customers are also see- chasm of the worst of it—they’ve fig- share of pitfalls. TJX Cos., owner of the Marshalls ing technological improvements. ‘Crossed the chasm’ ured out how to integrate their sys- “The department-store sector and T.J. Maxx chains, and Ross When Macy’s unveiled its new shoe In the jewelry departments of tems so the biggest expense is behind invested early, before a lot of the Stores Inc.—also performed well. department at Herald Square, some smaller stores, associates use them,”said Ms.Mulpuru.“Now they technology was developed,and built Yet Macy’s, as the largest specialty- which was part of the store’s $400 iPads to show consumers merchan- have to take the assets of what’s re- these homegrown solutions that apparel retailer in the country, has million renovation, it installed 10- dise beyond what’s in stock, an ini- maining and replicate success.” Ⅲ

16 | Crain’s New York Business | January 14, 2013

RD 28&40 WEST 23 STREET A Flatiron Renaissance 28 West 23rd Street 40 West 23rd Street 73,500 Contiguous RSF 62,605 Contiguous RSF Floors 7 - 9: 24,500 RSF each Entire 5th Floor: 43,000 RSF with Oversized Skylights Partial 6th Floor: 19,605 RSF Can be expanded to 98,000 RSF with Penthouse

Award-winning cast iron exterior and interior | Newly renovated lobbies, elevators, and infrastructure Spectacular interior atrium flooded with natural sunlight | 24/7 Full Security & Access Shopping & Dining at the intersection of the Flatiron & Chelsea Districts

ANDREW H. ROOS | 212 716 3510 | [email protected] MICHAEL T. COHEN | 212 716 3555 | [email protected] J. LEIA LIMA | 212 716 3757 | [email protected]

COLLIERS INTERNATIONAL NY LLC | 380 Madison Avenue | New York, NY 10017 | www.colliers.com REAL ESTATE INSIDE Six top industry execs read the tea leaves on 2013 PAGE 26 TV production firm jumps to the financial district, and other deals PAGE 28 REPORT Top property sales of 2012 PAGE 30 Times Sq. 100 and still growing property’s Looming improvements in and around Grand Central will make it more vital than ever new

BY DANIEL GEIGER TIME MARCHES ON: vertical The clock above the station’s southern After buying the 44-story office tower at façade is one of the 140 E. 45th St. last year, executives at few things that has Digital technology Rockwood Capital began hearing about a not changed in the strange phenomenon. Most of the build- area over the past remakes market ing’s tenants were coming and going via century. the building’s back door on East 44th for big signs at Street, the one next to the loading dock. Rather than fight it, Rockwood is world’s crossroads spending millions of dollars to glam up that entrance, including BY STEPHEN KLEEGE handsomely walling off the loading dock. The improve- Times Square’s “spectaculars”— ments are designed not just to please the the biggest and best of its famous property’s tenants but to capitalize on the billboards—draw tens of millions property’s biggest asset: its proximity to of eyeballs every year and are in- Grand Central Terminal,just a block from creasing the interest of some of the rear door. the city’s biggest landlords. “Forty-fourth Street is not going to Both SL Green Realty Corp., feel like a back entrance anymore,” said the city’s largest office landlord, Diana Shieh, an executive at Rockwood and Vornado Realty Trust are who oversees the building. making major moves in the verti- Rockwood’s move is just one of many cal real estate market at the Cross- by which countless landlords and tenants roads of the World. What they alike are demonstrating that even at the and others are betting on is the ripe old age of 100, the grand dame of ability of the new generation of New York’s transit hubs is more central digital signs and vital than ever.What’s more, with the to become See 100 YEARS on Page 22 major mon- BRIGHT ey spinners LIGHTS, akin to the BIG BILLS retail spaces they lease Annual electricity usage by the signs at out at street 1 and 2 Times level. Square De- pending on the location 4.8M and dimen- KILOWATT-HOURS sions, bill- board space 400 in Times TOTAL NUMBER of Square can homes that would command use that much power $300,000 to $400,000 a month un- 100% der a long- PORTION of power that is wind- term con- generated tract from a single ad- vertiser.The digital signs open new possibilities to market the space in shorter increments, costing as much as $40,000 for a day in prime holiday seasons. Behind those rates is an army of advertisers clamoring to get their brands in front of the 35 million tourists who pass through the square annually, and the mil- lions more who see the signs on friends’Facebook pages,as well as on YouTube and various televi- sion shows. “The advertisers understand

buck ennis See DIGITAL on Page 20

January 14, 2013 | Crain’s New York Business | 19 REPORT REAL ESTATE Digital billboards remake market

Continued from Page 19 Bertelsmann Building at 1540 cording to Jason Barak, managing it’s all about location, location, loca- Broadway, according to Guy Rus- partner of D3, a digital design tion,”said Brian Turner,president of sell, general manager, North Amer- specialist. NEW WAVE: The Sherwood Outdoor, a unit of Sher- ica, for Barco LiveDots, which “Landlords are looking to own latest of the wood Equities Inc., which owns 1 made the sign. these displays as part of their real es- “spectaculars” interact with Times Square and 2 Times Square, Across the street to the west, tate portfolios,” said Mr. Russell of passersby. and manages 1600 Broadway on the Vornado has plans, announced in Barco, the LED display maker corner of West 48th Street. “It is a the summer, for a monstrous six- known for the 14,000-square-foot real estate/media hybrid.” story-tall sign that it said will stretch array of screens at American Eagle buck ennis It is something that SL Green the length of a football field as part Outfitters’ flagship store at 1551 felt comfortable enough with to in- Broadway and West 46th Street. DESIGNERS TEST LIMITS FOR SIGN vest in a couple of three-story-tall “It’s in the early adoption phase AMONG THE BENEFICIARIES of the LED revolution is a small group of digitally light-emitting diode screens for the ‘Over time, it’s right now.” savvy manufacturers and designers who’ve displaced the neon “tube north and south ends of its tower at benders,” and before them, the paper hangers and carpenters who once built 1515 Broadway, which juts into the going to be Data collection Times Square’s biggest signs—its “spectaculars.” “bow tie” at the intersection of Quickening the switch-over is a “LED display costs vary by size, complexity and resolution,” said Jason Broadway and Seventh Avenue, signs collecting steep 50% decline in the cost of the Barak, managing partner of digital sign designer D3. “On the lower end of the giving advertisers exposure from displays during the past 10 years— spectrum, some units have been purchased for $250,000, and on the higher both directions. data’ while the quality has increased— end, $10 million-plus.” SL Green is hoping to maximize giving more companies access to the The displays require “high engineering and technical expertise,” its income by marketing its vertical technology. This has raised con- space in dollops of as little as 15 sec- cerns that a glut may develop, plac- said Barry Winston, a sign builder who’s been working in Times Square since onds in a two-minute loop, which, ing a premium on advertisers’ cre- 1954, back when the Camel cigarette billboard, blowing a seemingly endless among other things, would allow ativity in using social media to stream of perfect smoke rings, set the standard for edgy excellence. D3, the company to charge a hefty pre- of its redevelopment of the retail engage shoppers. based in New York and California, has put up more than half the LED displays mium for time slots during such space at the Marriott Marquis Advertisers already are encour- in Times Square since the company was formed in 2006. holidays as New Year’s Eve. Times Square Hotel. The develop- aging tourists and other passersby Mr. Barak said he is counting on something he calls “sign envy” to spur The firm has contracted with na- er did not respond to requests for to use their smartphones to shop demand for years to come. “People want something that’s curvier, that’s tional billboard giant CBS Outdoor. comment. directly from the street, using text flashier, that’s bigger,” he said. That company will help market the Both landlords are among those messages and emails. In doing so, D3’s Times Square displays include the rippling ABC News sign at West signs while SL Green will reap the owners aiming to boost their returns they are gathering information 44th Street and the Forever 21 billboard that’s equipped with face- “lion’s share” of the revenue, accord- by investing in digital signs that they they can use to market their prod- recognition technology capable of featuring passersby. ing to Brett Herschenfeld, an SL can carefully program, much like a ucts to the same consumers year- Other digital players include Barco LiveDots, a unit of Belgium-based Green senior vice president. television network’s airtime, rather round. Barco, and Daktronics, of Brookings, S.D. Daktronics pioneered digital LED than renting out by the month or “Over time, it’s going to be signs some 17 years ago with a display at Morgan Stanley headquarters, said Big plans year,as vertical landlords used to do. collecting data,” SL Green’s Mr. Randy Antes, director of digital projects for the company in New York. It also Vornado has entered into a sim- The downside is that the new Herschenfeld said. “All that data is made the current Coca-Cola display at 2 Times Square, where the soft-drink ilar arrangement with Van Wagner LED signs are more expensive to worth a lot of money.That’s the di- maker has had a sign since 1932. —STEPHEN KLEEGE Outdoor Advertising for a new 41- put up. The LED canvases can cost rection the Times Square advertis- foot by 72-foot LED sign at the as much as $1,000 a square foot, ac- ing market will go.” Ⅲ

We are pleased to announce

Georgoulis & Associates PLLC

has merged with

120 Wall Street  Suite 1803 New York, New York 10005 cohenseglias.com

PENNSYLVANIA  NEW JERSEY  NEW YORK 
DELAWARE  MARYLAND 
WEST VIRGINIA

20 | Crain’s New York Business | January 14, 2013 We especially acknowledge the following individuals and firms with whom we worked closely to lease over 1.1 million square feet in 2012:

Randy Abend David Lipson JONES LANG LASALLE STUDLEY Melissa Bazar Christopher Lopez CUSHMAN & WAKEFIELD COLLIERS INTERNATIONAL Allyson Bowen Anthony LoPresti STUDLEY CB RICHARD ELLIS Thomas Citron Sergio Lucky Thank CUSHMAN & WAKEFIELD MANHATTAN CONNECTION Samuel Clark, III Joseph Mangiacotti CUSHMAN & WAKEFIELD CB RICHARD ELLIS Keith Cody Bill Montana CB RICHARD ELLIS STUDLEY John Cushman Fernando Murillo CUSHMAN & WAKEFIELD DTZ, A UGL COMPANY Richard Eaddy Adam Nelson STUDLEY ABS PARTNERS You. Eric Ferriello Eric Reimer We are grateful to our tenants and the New York brokerage COLLIERS INTERNATIONAL JONES LANG LASALLE community for your support during the past year. Robert Gibson Bert Rosenblatt CUSHMAN & WAKEFIELD VICUS PARTNERS Brian Given Gregg Rothkin COLLIERS INTERNATIONAL CB RICHARD ELLIS Douglas Grabiner Carol Sacks NEWMARK GRUBB KNIGHT FRANK ABS PARTNERS Douglas Durst Jonathan Durst Kurt Handschumacher Dale Schlather STUDLEY CUSHMAN & WAKEFIELD David Hollander Ira Schuman CB RICHARD ELLIS STUDLEY Daniel Horowitz Jodi Selvey STUDLEY COLLIERS INTERNATIONAL Corina Irvin Tara Stacom CUSHMAN & WAKEFIELD CUSHMAN & WAKEFIELD Steven Jaray Alan Stein COLLIERS INTERNATIONAL CUSHMAN & WAKEFIELD Ronen Korin Stephen Sunderland MANHATTAN CONNECTION OPTIMAL SPACES Christopher Kraus Nina Sunderland JONES LANG LASALLE OPTIMAL SPACES Neil Levy Mary Ann Tighe STUDLEY CB RICHARD ELLIS Barry Lewen Gregory Tosko COLDWELL BANKER CB RICHARD ELLIS

Member ONE WORLD TRADE CENTER · ONE BRYANT PARK · 4 TIMES SQUARE · 1133 AVENUE OF THE AMERICAS · 1155 AVENUE OF THE AMERICAS ® 114 WEST 47 STREET · 655 THIRD AVENUE · 675 THIRD AVENUE · 733 THIRD AVENUE · 825 THIRD AVENUE · 205 EAST 42 STREET www.durst.org REAL ESTATE BOARD OF NEW YORK REPORT REAL ESTATE

that have proximity to north-end access points and the LIRR connec- 100 years young tor will be able to use that as a big selling feature,” Mr. Durels said. To the west, another big local Continued from Page 19 Among them is a planned widening landlord is also upping his bets on planned arrival by 2020 of Long Is- of the staircase near the terminal’s Grand Central. Aby Rosen, who land Rail Road trains in Grand Pershing Square entrance that leads owns several office towers in the city, Central’s sub-basement and the ex- down to the 4, 5, 6 and 7 lines, re- including the Seagram Building and pected rezoning of the surrounding lieving a notorious bottleneck. Lever House—the landmarks kitty- neighborhood to spur development “We could add a mirrored stair- corner from each other on Park Av- of a whole new generation of bigger, case that would roughly double the enue and East 53rd Street—recent- smarter office buildings, the termi- capacity,”said Frank Ruchala,a plan- ly spent nearly $540 million nal is destined to become only more ner at the Planning Commission. acquiring two office properties in important. The scent of a revitalized Grand separate transactions at 285 and 350 “When the LIRR link opens, it Central and its surroundings is al- Madison Avenue. He is already will bring about 80,000 new com- ready drawing a swarm of investors. planning to spend $55 million on a muters per day through the terminal,” Last year, a total of $2.2 billion of gut renovation of the former. said an MTA spokeswoman. Those commercial property transactions new faces will add to the roughly were completed in the neighbor- Shifting status 800,000 people—including tourists hood, a 10% rise over 2011, accord- “We always have been into the and, increasingly, shoppers—who ing to statistics compiled by Cush- Grand Central neighborhood,but it will pass through the building each man & Wakefield. The increase has become more essential given the Loeb & Loeb LLP day by the end of the decade. contrasted with that of Manhattan way that transit is so important to a Similarly, the extension of the 7 as a whole, which saw a total of $9.7 growing number of commuters,” congratulates, subway line—which runs beneath billion in office sales in 2012, off Mr. Rosen said. the station out to Manhattan’s 25% from the previous year. Among them are many employees newest neighborhood, Hudson Big sums are also being poured of Guggenheim Partners, an invest- , Yards, just beginning to rise west of into refurbishing buildings. A few ment firm that inked a 15-year lease BNY Mellon Penn Station—will further knit the blocks north of Grand Central, for last year for nearly 200,000 square terminal into the city’s future growth. example,SL Green and Vornado are feet of office space at 330 Madison In a sort of virtuous circle, it is spending $125 million renovating Ave. In fact, it was that transaction in the successful sale of the premier retail those beefier transportation links their twin-building property at 280 that helped convince Mr. Rosen that that effectively lay the groundwork Park Ave. the Grand Central neighborhood’s property at 706 Madison Avenue, New York, for the big new towers,which are ex- Steve Durels, an executive at SL status as a fading star, losing status to New York to Friedland Properties. We are pected to add 10 million square feet Green, indicated that the building’s newer precincts like Hudson Yards or more of additional space in the location next to northern pedestrian and a revitalized World Trade Center pleased to have represented BNY Mellon in coming decades—the equivalent of entrances to the terminal’s tracks— area, was shifting. more than three Empire State entry points that will eventually “Guggenheim Partners is a first- connection with the sale. Buildings—and their tens of thou- funnel into the LIRR connection— class tenant,” Mr. Rosen said. “The sands of additional tenants. They was a large factor in the partner- fact that they chose to come to could begin arriving as soon as 2020. ship’s decision to undertake such a Madison Avenue shows that that Loeb & Loeb LLP is a multi-service law firm with To help accommodate them, the big investment. stretch can now compete for the best city is hoping to plow as much as $300 “There’s no doubt that buildings firms.” Ⅲ more than 300 attorneys. The firm’s Real Estate million—raised by selling the air Department provides a broad range of sophisticated rights to developers to allow them to build bigger properties—into a whole legal services involving commercial, multifamily, raft of ambitious Grand Central- office, industrial, hospitality and residential centric pedestrian improvements. Among other things, the New properties throughout the country. The team of York City Planning Commission, nearly 30 attorneys and professionals handles all which is overseeing the rezoning plan, is mulling a proposal to turn manner of real estate transactions, including sales Vanderbilt Avenue, along the west and acquisitions, leasing and financing on behalf side of the terminal, into a pedestri- an green space similar to what it has of lenders and borrowers, as well as land use and done with Broadway in Times environmental issues, and real estate litigation. Square. A similar treatment could lie ahead for the underutilized road- ways on either side of Pershing New York Real Estate Partners: Square, across from the terminal’s main entrance on East 42nd Street. buck ennis Raymond A. Sanseverino, Chair David B. Kostman Michael D. Beck Andrew E. Lippmann Big changes ahead STATION RETAIL MIX IS ON TRACK Kenneth D. Freeman Richard A. Nardi Inspired by the rezoning,the Re- WITH LAST YEAR’S ARRIVAL of Apple to the East Balcony, and this year’s Michael B. Kinney Scott I. Schneider gional Plan Association and Mu- planned debut of Shake Shack in the lower dining concourse, Grand Central nicipal Art Society will jointly float Steven M. Kornblau Kenneth W. Sold Terminal has emerged as a retail destination. a proposal this spring, when the re- One of the things that Grand Central has going for it is a mix of tenants zoning plan enters public review, to unlike those anywhere else in Manhattan. Many of the retail spaces in the take a traffic lane on both Madison station are small enough to appeal to a wider variety of boutique-type tenants 345 Park Avenue Los Angeles and Lexington avenues and use the New York, NY 10154 New York who could not afford larger spaces on the street, notes Gary Alterman, space to widen the cramped side- executive vice president at Robert K. Futterman & Associates. More will come 212.407.4000 Chicago walks along both arteries. in 2018 with the planned opening the Long Island Rail Road concourse, Nashville The fate of all these proposals Washington, DC which will add 22,000 square feet of retailing space. Beijing and many that have yet to be enu- merated remains to be seen, but “Grand Central is a magnet for the entire area,” Mr. Alterman said. Hong Kong In fact, the halo effect has spread to surrounding areas, which offer larger www.loeb.com what seems clear is that big changes in the streetscape of the area sur- spaces for retailers such as Zara and H&M. rounding Grand Central lie ahead. “Retailers who can’t fit into Grand Central—or whose renewals are “This is midtown’s response to rejected—probably end up taking space nearby,” said Faith Hope Consolo, the High Line,”said Raju Mann,di- chairman of retail leasing at Douglas Elliman. rector of planning at the Municipal Meanwhile, west of the station, along Fifth Avenue from 42nd to 49th Art Society. “What distinguishes a streets, rents have ballooned in the past few years as big-name retailers such city and a neighborhood is not class as Urban Outfitters and Joe Fresh have set up shop, paying as much as A buildings ultimately, but what’s $1,100 per square foot. Nearby Madison Avenue in the East 40s has held happening around those buildings.” steady with such stalwarts as Brooks Brothers and Paul Stuart. Improvements are also in the —ADRIANNE PASQUARELLI cards within the station itself.

22 | Crain’s New York Business | January 14, 2013 Behind every successful Building Owner there is a host of incredibly talented Brokers and steadfast Tenants.

Jack Resnick & Sons thanks the following Firms and the Brokers who represented them, as well as our existing Tenants who renewed their commitment to New York City in 2012.

The City of New York Moda Operandi, Inc. United States of America Pembrooke Capital Management, LLC 255 GREENWICH STREET 315 HUDSON STREET 315 HUDSON STREET 485 MADISON AVENUE represented by: represented by: Univision Radio New York, Inc. Owen Hane of Cushman & Wakefield, Inc. SD Daniels & Co., C.P.A., P.C. Cory Borg of Newmark Grubb Knight Frank 485 MADISON AVENUE 485 MADISON AVENUE represented by: Robert Marston Corporate Klein Zelman Rothermel LLP Michael Gottleib & Martin Cunningham Communications, Inc., Robert Marston TED Conferences, LLC 485 MADISON AVENUE of Avison Young Marketing Communications, Inc. and 315 HUDSON STREET represented by: Robert Marston Associates, Inc. represented by: John T. Pavone, Jr. Stephen R. Harris & Associates 485 MADISON AVENUE Kim Skarvelis of Cast Iron Real Estate of DTZ Media Co., Inc. represented by: 110 EAST 59TH STREET Moshe Sukenik & Barry Goodman of Gracie Mews Restaurant Corp. Marlcroft Asset Management, LLC Newmark Grubb Knight Frank 401 EAST 80TH STREET 133 EAST 58TH STREET Mount Sinai School of Medicine 485 MADISON AVENUE The Fashion Group International, Inc. Steven Myers, D.D.S. Hat World, Inc. d/b/a The Yankee Store 8 WEST 40TH STREET 133 EAST 58TH STREET 110 EAST 59TH STREET Fieldman Gahr & Levy, Inc. represented by: 133 EAST 58TH STREET Kenneth Kronstadt & Rick A. Kramer of Newmark Grubb Knight Frank Alexandra Hara, DMD Microdot, L.L.C. represented by: 133 EAST 58TH STREET 133 EAST 58TH STREET Stanley Piesh of Prime Manhattan Realty TED Conferences, LLC 250 HUDSON STREET Andrew Resnick, Au.D., LLC The Interpublic Group of Maal 52, Inc. d/b/a Dino Baldini 133 EAST 58TH STREET Companies, Inc. 485 MADISON AVENUE represented by: Kim Skarvelis of Cast Iron Real Estate 250 HUDSON STREET Alla Belilovsky Internal Medicine, P.C. represented by: Willow Management of NYC, Inc. 133 EAST 58TH STREET Robert Romano of Jones Lang LaSalle 133 EAST 58TH STREET O.M.G., Inc. represented by: 301 EAST 45TH STREET Christian Arnold of Red Real Estate LLC Ari A. Druz, D.D.S. Waxing by Grace, Inc. 133 EAST 58TH STREET 133 EAST 58TH STREET 8 West Bakery LLC d/b/a Maison Kayser BK Belts W. 57th Street 8 WEST 40TH STREET 205 WEST 57TH STREET represented by: represented by: Matt Cohen of The Lansco Corporation Peter Levitan of Lee & Associates, Inc. String Advisors, Inc. 133 EAST 58TH STREET

Jack Resnick & Sons Owners and Builders Since 1928 110 East 59th Street New York, NY 10022 212-421-1300 www.resnicknyc.com

Proud to be a member of 3 MAGNIFICENT CENTRAL PARK LOCATIONS FOR HEALTHCARE PROFESSIONALS

800 FIFTH AVENUE OVERLOOKING CENTRAL PARK AT 61ST STREET 2,000 - 5,480 RSF of Ground Floor Professional Space Separate Entrance on 5th Avenue · On-site Attended Garage · Steps from All Transportation 1,245 - 4,458 RSF Professional Suites Separate Entrance · On-site Attended Garage · Steps from All Transportation

1050 FIFTH AVENUE ON THE PARK AT 86TH STREET 1,652 RSF Professional Suite Separate Entrance · On-site Attended Garage · Steps from All Transportation

200 CENTRAL PARK SOUTH OVERLOOKING THE PARK 1,375 RSF Professional Suite Separate Entrance on Central Park South · On-site Attended Garage · Steps from All Transportation

Exclusive Leasing Agent

Paul Wexler, President, Corcoran Wexler, Associate Broker 212.836.1075 · [email protected] The Right Prescription For All Of Your Healthcare Real Estate Needs

AVAILABLE PROPERTIES

ARTIST RENDERING

PARK AVENUE MEDICAL ARTS CENTER NEW MEDICAL BLDG OFF PARK AVE PARK VIEWS ON FIFTH PRIME RETAIL/MEDICAL RENTAL LENOX HILL CONDO East 88th St btwn. Madison & Park Aves East 80s btwn. Park & Lex Aves Fifth Ave at 61st St CPW at 62nd St 77th St btwn. Lexington & 3rd Aves * Size: 4,367 to 19,218 SF+/- for lease Size: 28,000 SF+/- for lease Size: 1,245 to 4,458 SF+/- for lease Size: 2,173 to 5,274 SF+/- for lease Size: 462 to 4,549 SF+/- for sale

PARK AVENUE GEM STEPS FROM GRAND CENTRAL NEW UES MEDICAL BUILDING PARK VIEWS CONDOS ON FIFTH AVE LAST CONDO UNITS LEFT Park Ave at 63rd St 46th St btwn. Fifth & Madison Aves 78th St btwn. 3rd & 2nd Aves Fifth Ave at 102nd St ** 64th St btwn. 3rd & 2nd Aves *** Size: 1,700 SF+/- for sale Size: 1,765 to 14,138 SF+/- for lease Size: 2,400 to 4,800 SF+/- for lease Size: 1,155 to 2,508 SF +/- for sale Size: 3,818 to 11,809 SF+/- for sale

ARTIST RENDERING

SUTTON PLACE OFFICE SPECTACULAR MEDICAL SUITES RETAIL OR PROFESSIONAL SPACE HUDSON PARK COMMUNITY FACILITY MURRAY HILL PARK AVE CO-OP 54th St at Sutton Place 37th St btwn. 2nd & 1st Aves 28th St at 2nd Avenue West 38th St btwn. 10th & 11th Aves Park Ave at 37th St Size: 3,000 SF+/- for lease Size: 2,519 to 8,325 SF+/- for lease Size: 1,304 to 2,700 SF+/- for lease Size: 15,000 to 30,000 SF+/- for lease Size: 750 SF+/- for sale

ARTIST RENDERING LUXURY PRE WAR CO-OP NEW DEVELOPMENT OPPORTUNITY BEST OF THE WEST YORKVILLE BUILT TO SUIT VILLAGE CONDO Fifth Ave at 87th St Btwn Amsterdam & Audubon Ave CPW btwn. 87th & 88th St 79th St btwn. 1st & York Aves 12th St btwn. University Pl & Broadway Size: 1,900 SF+/- for sale Size: 2,574 to 15,000 SF+/- for lease Size: 1,500 SF+/- for sale Size: 4,000 SF+/- for lease Size: 1,866 to 4,666 SF+/- for sale

ARTIST RENDERING RARE UES MEDICAL CONDO FULL BUILDING IDENTITY NEW UPPER EAST SIDE RENTAL PRESTIGIOUS PARK AVE CLASSIC PREWAR Btwn Lexington & Third Aves Amsterdam Ave at 180th Street 84th St btwn. Lex & Third Aves Park Ave btwn. 91st & 92nd St Park Ave btwn. 85th & 86th St Size: 1,700 SF+/- for sale Size: 4,500 to 31,500 SF+/- for lease Size: 1,600 SF+/- for lease Size: 1,350 SF+/- for sale Size: 1,245 SF+/- for sale

NEW IN MIDTOWN EAST UPPER EAST SIDE GEM PRIME GOLD COAST OFFICE ADAPTABLE FOR ALL SPECIALTIES RARE PREWAR RENTAL 51st St btwn 3rd & 2nd Aves 69th St btwn. 3rd & 2nd Aves 96th St at Fifth Ave Park Ave at 89th St W 86th St - 1/2 block from Central Park Size: 4,700 SF+/- for lease Size: 800 SF+/- for sale or lease Size: 1,025 SF+/- for sale Size: 1,300 SF+/- for sale Size: 4,000 SF+/- for lease

OPHTHALMOLOGIST OFFICE ON LEX PERFECT FOR PSYCHIATRISTS NEW INSTALLATION WEST SIDE GEM Lexington Ave btwn. 67th & 68th St 71st btwn. Park & Lexington Aves 67th St btwn. 2nd & 3rd Aves 60th St btwn. Broadway & Columbus Aves Size: 1,200 SF+/- for sale Size: 550 SF+/- for lease Size: 745 SF+/- for lease Size: 3,078 SF+/- for lease

Contact us for information on any of these properties or for the largest selection of Healthcare Properties in New York City.

Vaneide Giacobe Paul L. Wexler Josef Yadgarov Licensed Real Estate Salesperson Pres., Corcoran Wexler Healthcare Properties Licensed Real Estate Salesperson 212.893.1730 Lic. Assoc. RE Broker, The Corcoran Group 212.836.1097 [email protected] 212.836.1075 I [email protected] [email protected]

The complete offering terms are in an offering plan from * Sponsor File No: CD050469 **Sponsor File No: CD110057 ***Sponsor File No: CD890467 All information furnished regarding property for sale, rental or financing is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental, commission or other conditions, prior sales, lease or financing, or withdrawal without notice. The Corcoran Group is a licensed real estate broker. Owned and operated by NRT LLC. REPORT REAL ESTATE

Q: Do you expect Q: The volume of Q: Midtown south Q: Fed in part by Q: Lenders lined up Superstorm leasing deals was had another tourism, retail real to finance con- Sandy to have modest in 2012. bumper leasing estate logged struction of rental any lasting impact Is there any year in 2012. As another strong apartment build- on tenants’ taste reason to think prices rise there, year in 2012. Do ings last year. Will Q&A for low-lying 2013 will better? where do you you expect that condominium and Forecasts from six neighborhoods or think tenants will momentum to office construction New York real estate buildings? look for continue? be next to feel experts alternatives? lenders’ love?

Sandy is going to create Absolutely. The fiscal cliff has Most of the overflow will remain New York City is a retail town. Office construction is going to challenges for all landlords in served as a virtual pause button in Manhattan. Some tenants Tourists are certainly a require preleasing. I don’t [evacuation] Zone A buildings on the traditional [finance, will migrate to the financial significant driver of retail. The believe we are anywhere near to show they have taken the insurance and real estate] sector, district, as they already have, biggest change ahead for New the point where we will see spec necessary steps to secure their although, incidentally, it has had while some will go to midtown, York City retail will occur along office construction in midtown MICHAEL properties.The will, technology absolutely no impact on the particularly the Grand Central West 57th Street, when north or downtown, although T. COHEN and capital are there. Landlords technology sector. Once we get submarket. We may also see Nordstrom opens. There is we may see some exceptions in President, are fully invested in their prop- our fiscal act in order, I believe some migration, long term, to huge pent-up demand for a midtown south. Commercial tristate region, erties and are working diligently we will see a gradual recovery in the Hudson Yards. Long Island retailer of this size, caliber and Colliers lenders today are cash-flow- International to take the necessary measures. FIRE and an uptick in both the City is also becoming more scope. The impact will be oriented. Old metrics of loan- Nobody is going to let all this number and size of closed attractive, a change that has significant. Look for another to-value don’t apply today. It’s real estate wash out to sea. transactions throughout 2013. long been talked about. strong year in 2013. all about coverage.

Maybe in the short run, but There are about 20 companies Twitter, Viacom and About.com Momentum will continue. Construction lenders are limited memories fade. This is, we currently seeking more than have signed leases in midtown. Increased residential and when you get above $25 hope, a once-in-a-generation 100,000 square feet each, Given cost savings, ease of commercial development million. They are reluctant to event. Landlords may need to totaling roughly 2.8 million transportation and a young and downtown has created a finance spec office projects, and BARRY offer some extra incentives over square feet in Manhattan. available workforce, downtown demand for more retail. condo projects must pencil out M. GOSIN the next year or two, but Leasing activity should pick up Brooklyn also poses a viable Meanwhile, the Fifth Avenue as a rental if the units don’t sell. Chief demand will return to normal again in 2013, though alternative to midtown south. corridor below 42nd Street What’s more, underwriting is executive, in the long term. financial-services companies should see some increased contingent on the track record Newmark may not be done downsizing, activity as national and of the developer and [its] Grubb Knight which could translate into a international retailers migrate relationship with the lender. Frank slow first half for midtown. from the high-priced area farther up Fifth Avenue.

Residential tenants will continue Corporations are not hiring the Activity there was fueled by the We weathered the Great Condo construction will thrive, to be attracted to waterfront way they could and are not impact of Google and a very Recession better than other cities aided by more loans. Based on properties but will consider the committing to long-term space constrained supply of office primarily because of the impact the rapidly rising cost of land, relationship to sea level for the the way they could. Uncer- product. Due to the demand of tourism.The weak dollar had in better locales, rental ROBERT next year or two. Commercial tainty is the enemy of markets. for space, we have seen values a lot to do with this, but the construction is likely to be KNAKAL tenants will be much more The impact of Dodd-Frank is per square foot inch closer to greatly reduced crime rate made unfeasible. Meanwhile, the city Chairman, discriminating and will likely not fully understood yet, and those in midtown. If [the] City the Big Apple a favored is desperate for new office Massey Knakal continue to want to be in those the impact of Obamacare Planning [Commission] can destination of both foreign and construction. The city should Realty Services locations, but will look for doesn’t start to tangibly kick in come up with a pragmatic domestic travelers. It is introduce a tax-abatement properties where owners have until this year. As a result, the approach to zoning in the imperative that our next mayor program to encourage made changes to avoid the leasing market in 2013 will garment center, that could be continue to keep an eye on crime conversion of obsolete office lasting effects of another storm. continue to face challenges. the next hot office market. and quality-of-life issues. buildings to alternative uses.

Tenants will certainly look at As of mid-December, there were Downtown and the Penn Station We expect tourism will continue Condo deals are getting done, buildings in Zone A areas with a number of large deals very area are likely alternatives. The to buoy retail. Space in key albeit at 50% to 60% of cost in a different eye. Owners who close to closing and other large bigger question is: As tech retail markets is tight, and so prime areas, with conservative invest capital to protect their deals trading proposals. With tenants mature, will they leave we believe these key markets assumptions and best-in-class buildings’ infrastructure, such the expectation that several of loft buildings for modern will outperform the overall sponsors. Most of these loans as moving Con Edison vaults to the leases that were close to buildings? Our experience with market. Some newer retail are also being underwritten PAUL above-grade floors, will closing will slip into 2013 and maturing tech tenants in other corridors that will continue on with a “fallback rental analysis,” MYERS experience less downtime and the deals that are trading paper markets suggests they will value an upward trajectory will be the meaning that the numbers Executive higher rents than those who will select a finalist and close buildings with the power, Bowery,Times Square, Fifth pencil out as rentals if the vice just restore their buildings’ this year, the first half of 2013 HVAC and elevator systems Avenue south of Rockefeller condo market falters. We president, infrastructure to pre-Sandy can be viewed as being very needed to support their Center and Williamsburg, expect lenders will make loans CBRE Inc. conditions. strong for the larger deals. operations. Brooklyn. to strong sponsors.

People, particularly in Zone A, The New York office market has The city continues to be a safe I think the trend will definitely We are still seeing a lot of desire will remember the flooding always been a vibrant place to place to work and live, and continue. New York is popular from developers to do rentals. when making decisions. This do business, with nearly 440 Manhattan’s neighborhoods all over the United States and We may see some financing of PETER won’t stop lower Manhattan million square feet of office always evolve. Young people still the rest of the world. People condominium projects at the RIGUARDI from being able to flourish. As space. That will always lead to want to be here, and there are just want to be here to connect very high end, but generally, the President, long as owners recognize that a large amount of activity plenty of alternatives for them. with the vibrancy and diversity bulk of lender activity will tristate they cannot put crucial generated by lease expirations. The obvious ones are lower this city has always provided. remain with the rental market. operations, building systems in the same In 2013, we won’t see a lot of Manhattan, the far East Side That will translate into the As far as office construction is Jones Lang place, downtown will be OK. deals based on growth or and the Lower East Side. Areas continued strength of tourism concerned, developers won’t LaSalle Everyone needs to be cognizant creative expansion except in a such as Astor Place that are here and corresponding growth feel a lot of love from lenders about what happened and how few select industries such as circled by residential buildings in retail. without bringing preleasing to deal with it technically. technology. will also be a viable option. commitments to the table.

The real estate community is I would categorize 2012 as an Midtown south is the tightest We expect positive momentum With multifamily properties asking local officials to evaluate average leasing year. But it’s market in the nation. It is will continue in New York in trading above replacement cost, the conditions downtown that also important to note that desirable among media and 2013. Fifth Avenue, Times investor returns on construction caused tenants to be displaced we’re looking at total leasing technology companies because Square, East 57th Street and exceed those of core and to allow us to present last year in the context of a of the ambience [of ] the Madison Avenue all rank in the acquisitions, so we have methods of mitigation. In the once-in-a-decade leasing year neighborhood, and the space top 10 retailing locations in the experienced a spate of new GLENN short term, tenants will be in 2011. In 2013, we expect the there lends itself well to world by asking rent, and they construction. But office RUFRANO interested in physical elements market may continue to be creative users. As available will continue to perform well in product is still selling below Chief such as backup facilities. In the sluggish, but we have no reason space has diminished in the 2013, along with SoHo and cost with rents also below cost executive, long term, tenants will go back to believe that leasing will be market, tenants are increasingly [the] Flatiron district, where levels. As the office market Cushman & to basing real estate decisions softer than it was last year. looking to move downtown and retailers are seeing higher sales continues to recovery, we expect Wakefield on the fundamentals. to Brooklyn. than they had projected. to see more building.

26 | Crain’s New York Business | January 14, 2013

REAL ESTATE DEALS Rock Shrimp jumps to FiDi BARE BONES

elevision company Rock Shrimp Productions, which has pro- to anchor 1 duced several hit cooking shows for celebrity chef and former World Trade Crain’s 40 Under 40 Bobby Flay, is moving to a new home in Center. lower Manhattan. A brokerage Rock Shrimp will relocate to 115 Broadway.It will take rough- team from Tly 10,000 square feet on the second floor of the 21-story, 430,000-square- CBRE led by foot building, where asking rents are in the $40s per square foot. Brad Gerla and The firm,which has created a number of popular shows starring Mr.Flay, Adam Foster including Boy Meets Grill and Throwdown,will use the space as its new Man- represents the 1 LIBERTY PLAZA 32-00 SKILLMAN AVE. 1261 BROADWAY ownership at 115 Broadway, real es- ASKING RENT; TERM: ASKING RENT; TERM: ASKING RENT; TERM: hattan headquarters. Rock Shrimp has made the move downtown. tate investment firm Capital Proper- Undisclosed; 15 years $12.50 per square foot; $36 per square foot; has been subleasing space in Hud- As Crain’s previously reported, ties. The pair for months have been SQUARE FEET: 134,000 10 years undisclosed son Square, a neighborhood known HarperCollins is close to moving its trying to position 115 Broadway, TENANT; REPS: SQUARE FEET: 45,000 SQUARE FEET: 10,900 as an area home to media and pro- longtime headquarters in midtown which features a distinctively ornate, Transatlantic Reinsurance TENANT; REP: Prop N TENANT; REP: Bluedata duction companies. The deal is yet to 195 Broadway, just a few blocks Gothic-style lobby, as an appealing Co.; Robert Lowe and Spoon; Jarod Stern of International; Perry another in which a tenant from an from 115 Broadway.And more than alternative to midtown south, the John Cefaly of Cushman Studley Mesmer of Colliers industry not typically associated a year ago, Condé Nast signed a city’s hottest leasing district. & Wakefield LANDLORD; REP: Stellar International with a location in lower Manhattan roughly 1 million-square-foot deal —daniel geiger LANDLORD; REP: Management; Lawrence LANDLORD; REP: 1255 Brookfield Office T. Smith of Sholom and Co.; Steve Marvin of Properties; in-house Zuckerbrot Realty Olmstead Properties Jonathan Grayer, chief executive as a one-or-two-nights-a-week part broker Duncan McCuaig Organic Avenue to of Weld and former CEO of educa- of their meal plan,” Mr. Grayer BACK STORY: Prop-rental BACK STORY: The BACK STORY: The company will take space vocational and double NY outposts tion giant Kaplan Inc., has big plans explained. reinsurance firm will at the Swingline Building educational organization for the vegan company.“We see a fu- —adrianne pasquarelli move to a lower in Long Island City. It will will remain in the 11th- Manhattan-based juicer Organic ture where the New York metro area Manhattan location, use the space to house floor space that it has Avenue is taking a new turn.The 13- can have 20 or more stores,” he said. taking space on three its props and furniture, occupied for the past 15 year-old company,which sells vegan The new stores will be at East 86th Childrenswear is stories, according to The according to The years. Commercial Observer. Commercial Observer. food, juices and cleanses, is opening Street and Third Avenue, at Hudson in on Upper E. Side four more New York area outposts in and West 10th streets, at East Ninth the current quarter of 2013,bringing Street and Third Avenue, and in Childrenswear store Lucky Wang is spots in Chelsea and near Union for babies and kids up to age 12, re- its total count to 12. Roslyn,L.I.Stores range in size from expanding uptown, having signed a Square. places antique store Little Nest of News of the growth spurt came 300 to 1,200 square feet. five-year deal for 400 square feet at Co-founder Kit Lee said the Treasures. Landlord 1435 Tenants as investment company Weld North “Vegan eating has been seen as a 1435 Lexington Ave. The asking rent number of schools in the area factored Corp. was represented by Howard announced that it is upping its stake lifestyle, and it is for a lot of people, was $135 a square foot. Opening in into his decision to move into the Aaron of Square Foot Realty. Mr. in Organic Avenue to 70%, from a but increasingly what’s growing our February, this will be Lucky Wang’s neighborhood. Lee represented himself. minority stake it has held since June. business is people thinking about it third Manhattan store, following Lucky Wang, which sells apparel —adrianne pasquarelli 6 industry leaders celebrated The Real Estate Board of New York will honor these professionals at its annual banquet on Jan. 17 Donald Zucker Dottie Herman Dick Concannon AWARD: Bernard H. Mendik Lifetime Leadership AWARD: Kenneth R. Gerrety Humanitarian AWARD: George M. Brooker Management in Real Estate TITLE: President and CEO of Douglas Elliman Executive of the Year TITLE: Chairman of the Donald Zucker Co. TITLE: Senior vice president of operations of Rudin In 1989, Ms. Herman bought Prudential Long Management Since he founded his eponymous mortgage Island Realty, expanded it, and in 2003 added company 52 years ago, it has grown hugely.Today, Douglas Elliman and turned the company into New Mr. Concannon has spent his entire 50-year real the Donald Zucker Co. is not only a national York’s largest and fastest-growing residential firm. It estate career at Rudin Management. Starting out as brokerage firm, but it is also one that boasts a also ranks as the fourth largest in the U.S., with 3,800 a mere helper, the Long Island University graduate construction/development arm as well as an asset management real estate professionals and 675 employees spread among some 60 ascended the ranks, becoming a building engineer, a chief engineer, a company, and employs a total of 300 people. Along the way, Mr. offices.Two years ago, the company expanded into Westchester. Ms. building manager and then a vice president. In that role, he oversaw Zucker served as special adviser for construction to Mayor Ed Koch, Herman is a contributor to the Sunrise Fund at Stony Brook University HVAC, electrical, plumbing and life-safety systems for 16 office and as a chairman of the School Construction Authority under Mayor Medical Center, which raises money and awareness for pediatric buildings and 20 residential properties. He also developed and wrote Rudy Giuliani. He was a clinical professor at what is today the Schack oncology programs. She also supports the American Heart Association, the Rudin buildings’ emergency response plan, the pandemic flu plans Institute of Real Estate at NYU and is a member of North Shore- the Tilles Center for the Performing Arts, Southampton Hospital and and the Rudin superintendents’ handbook. Mr. Concannon also helped Long Island Jewish Health System’s executive committee. He also the Katz Institute for Women’s Health, as well as several other to develop Rudin’s emergency electrical load-reduction plan. Mr. served as president of the Jewish Center of the Hamptons. organizations. Concannon will retire this year.

Mike Fishman Woody Heller William Montana AWARD: Harry B. Helmsley Distinguished New AWARD: Louis Smadbeck Broker Recognition AWARD: Young Real Estate Man of the Year Yorker TITLE: Executive managing director and group TITLE: Managing director of Studley TITLE: International executive vice president of the head, Capital Transactions Group, Studley Service Employees International Union Since signing on with Studley in 1996, Mr. In his 28-year career in real estate, Mr. Heller has Montana, 48, has advised companies including Before being elected to his current post, Mr. orchestrated many standout deals, including the sale Microsoft, Sony and Sullivan & Cromwell on real Fishman served for 13 years as president of the of the Citigroup Center and the purchase of the estate matters. He began his real estate career at largest private-sector union in New York state, Drake Hotel development site, as well as the leasing Newmark Group in 1988 and then moved on to SEIU Local 32BJ. With 120,000 members, it also ranks as the biggest of the Rhinelander Mansion to Polo Ralph Lauren. Over the course of Edward S. Gordon Co. He is the chairman of REBNY’s commercial property-services union in the country, a status it earned in part his career, Mr. Heller has closed more than $6.5 billion worth of asset and board of directors, and a member of its board of governors and ethics through Mr. Fishman’s organizing drives, which more than doubled its note sale transactions involving about 33 million square feet of properties, committee. He also sits on the board of the New York City Clothing membership. The grandson of a union carpenter, Mr. Fishman began including the Chrysler Building. In 2007, Mr. Heller’s crafting of the sale Bank and raises money for the Stamford, Conn., homeless shelter, the his career in the carpenters’ union and rose through a series of posts. In of the New York Law School site in TriBeCa won REBNY’s Most Starlight Foundation and the U.N. Development Fund, among others. 2011, Gov. Andrew Cuomo named him to the New York City Ingenious Deal of the Year award.Today, he sits on REBNY’s sales The University of Colorado-Boulder graduate is also a fourth-degree Regional Economic Development Council. Mr. Fishman also serves as brokers committee and is also a member of the Young Men’s/Women’s Knight of Columbus. vice president of the New York City Central Labor Council. Real Estate Association. —ali elkin

28 | Crain’s New York Business | January 14, 2013 CONCEPT ART BY DIGITART3D.COM

CELLAR PLAN GROUND PLAN

343 W 14th street

Prime meatpacking

2400-3250 SF of Retail

Rear Garden Courtyard

Neighbors include: Apple, High Line, Chelsea Market, Abe & Arthur’s, Hugo Boss, Google and the 1, 2, 3, A, C, E and L subway lines

All subway traffic into meatpacking district walks past the storefront

Contact to inquire about our many other Manhattan retail listings

John Antrim-Cashin - Leasing Associate - (212) 696-7163 - [email protected] Justin Ebersman - Vice Chairman - (212) 696-7128 [email protected] CONCEPT ART BY DIGITART3D.COM

WALTER & SAMUELS, INC. CONCEPT ART BY DIGITART3D.COM

No warranty, or representation is made as to the accuracy of the above information and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior lease or withdrawal without notice, and to any special listing conditions, including the rate and manner of payment of commissions for particular offering, the terms of which are available to duly licensed brokers. This listing is subject to the aforesaid conditions and is not to be deemed an employment nor a binding contract of any kind unless or until our brokerage agreement is fully executed. THE Real Capital Analytics’ Top Property Sales LIST Biggest commercial transactions in NYC in 2012, ranked by price

Sq. ft. or TOP FOUR Address/ # of units/ property type/ Transaction price price per Interest 100% value Close SALES submarket (in millions)1 sq. ft. or unit conveyed (in millions) date Buyer Seller

5100 Kings Plaza (Kings Plaza Shopping Center) $751.0 1,100,000 100% $751.0 11/28 Macerich Vornado Realty Trust 1 Retail $683 Brooklyn 666 Fifth Ave. (retail condo)2 $707.8 54,534 100% $707.8 12/7 Vornado Realty Trust Carlyle Group/Crown Acquisitions 2 Retail $12,979 Midtown West 450 Lexington Ave. $667.5 910,473 100% $667.5 9/14 RXR Realty Dubai World 3 Office $733 Midtown East 795-808 Columbus Ave., 801 Amsterdam Ave. $630.0 654 100% $630.0 1/12 UDR Inc./ MetLife Chetrit Group/Stellar Management 4 (Columbus Square) $963,303 Apartment Upper West Side 450 W. 42nd St. (MiMa) $551.2 814 70% $787.4 12/7 TIAA-CREF Goldman Sachs LIST RANK 1 5 Apartment $967,322 Midtown West ADDRESS 5100 Kings Plaza 8 Spruce St. (New York by Gehry) $514.5 896 49% $1,050.0 12/21 TIAA-CREF/ Forest City/National Real Estate 6 Apartment $1,171,875 National Real Estate Advisors Advisors PRICE PER SQ. FT. Downtown $683 641-64 Fifth Ave. (Olympic Tower) $499.0 421,809 50% $1,000.0 5/13 Crown Acquisitions Onassis Foundation 7 Office/Retail $2,371 Midtown East 310 Greenwich St. (Independence Plaza North) $498.4 1,328 59% $844.8 12/21 Vornado Realty Trust Stellar Management 8 Apartment $636,145 Downtown 1 Court Square $481.1 1,401,609 100% $481.1 7/17 David Werner/Feil Organization JPMorgan/SL Green 9 Office $343 Queens 768 Fifth Ave. $431.3 230 75% $575.0 11/27 Sahara India Pariwar Delek Group 10 (The Plaza and Shops at the Plaza) $2,500,000 Hotel/Retail Midtown East 1285 Sixth Ave. (PaineWebber Building) $402.0 1,749,000 50% $804.0 11/13 AXA Group Equitable Life Assurance 11 Office $460 Midtown West LIST RANK 2 530 Fifth Ave. $390.0 537,800 100% $390.0 1/31 Crown Acquisitions/ Moinian Group/David Werner ADDRESS 12 Office $725 Murray Hill Properties 666 Fifth Ave. Midtown West PRICE PER SQ. FT. 2 E. 55th St. (St. Regis retail condo) $380.6 24,800 100% $380.6 10/11 Richemont Crown Acquisitions/ $12,979 13 Retail $15,347 Goldman Properties Midtown East 160 Central Park South (Essex House) $362.3 518 100% $362.3 9/14 Strategic/KSL Capital Partners Dubai Holding 14 Hotel $699,421 Midtown West 575 Lexington Ave. (Grolier Building) $360.0 743,240 100% $360.0 10/22 Normandy Real Estate Partners/ CalSTRS/Silverstein Properties 15 Office $484 New York Life Midtown East 1411 Broadway (World Apparel Center) $360.0 1,150,705 50% $721.4 11/19 Caisse de Depot Blackstone 15 Office $627 Midtown West 10 E. 29th St. (Madison Belvedere) $300.0 404 100% $300.0 12/5 Invesco RE OBO L.A. Rose Associates Inc. 17 Apartment $742,574 County Employees Midtown East 105 W. 29th St. (The Beatrice) $280.0 301 100% $280.0 6/22 Equity Residential JD Carlisle/DLJ RE Capital Partners 18 Apartment $930,233 LIST RANK 3 Midtown West ADDRESS 1440 Broadway $280.0 740,000 80% $350.0 10/17 Rockpoint Group Prudential RE Investors 450 Lexington Ave. 18 Office $473 Midtown West PRICE PER SQ. FT. 135 W. 50th St. (Sports Illustrated Building) $279.0 800,000 100% $279.0 8/24 UBS Realty Advisors The Lehman Family $733 20 Land $349 Midtown West 790 Seventh Ave. (Manhattan at Times Square) $275.0 665 100% $275.0 10/2 Rockpoint Group/ Starwood 21 Hotel $413,534 Highgate Holdings Midtown West 4 New York Plaza $270.0 1,016,406 100% $270.0 5/23 EDGE Fund Advisors/ Harbor Group International 22 Office $266 HSBC Holdings Downtown 220 W. 42nd St. (Candler Building) $261.0 227,685 100% $261.0 11/29 Epic U.K. Ltd. Paramount Group 23 Office $1,146 Midtown West 10 E. 53rd St. $252.5 388,684 100% $252.5 2/12 SL Green/CPP Investment Board New Millennium Estates 24 Office $662 (Cariplo Pension Fund) Midtown East 340 West St. (St. John's Center) $250.0 1,200,000 50% $499.0 12/28 Westbrook Partners/Fortress Eugene Grant LIST RANK 4 25 Office $416 Midtown South ADDRESS 1-Partial interest transactions included at the prorated share of the 100% property value. 2-Fee simple: 38,614 square feet; 99-year leasehold: 15,920 square feet 795 Columbus Ave. Real Capital Analytics Inc. is an independent research firm focused exclusively on capital investment markets for commercial real estate. RCA offers comprehensive information on activity in the industry. In addition to collecting transactional information for property sales and financings, it interprets the data, including capitalization rates, market trends, pricing and sales volume. The firm publishes a series of “Capital Trends” reports and offers an online service that provides real-time, PRICE PER UNIT global transactional market information. Visit www.rcanalytics.com. $963,303

30 | Crain’s New York Business | January 14, 2013

SUPERB FLATIRON RETAIL 102-104 FIFTH AVENUE BETWEEN 15TH & 16TH STREETS/WESTSIDE

102 FIFTH AVENUE - MESA GRILL 104 FIFTH AVENUE-ARDEN B Approx 3,837 SF - Ground Level Approx 2,118 SF - Ground Level Approx 2,090 SF - Basement Approx 620 SF - Basement Approx 1,527 SF - Mezzanine Approx 368 SF - Mezzanine Approx 35 Feet - Frontage Approx 25 Feet - Frontage BOTH STORES COMBINED Approx 5,955 SF - Ground Level Approx 2,710 SF - Basement Approx 1,895 SF - Mezzanine Approx 60 Feet - Frontage Neighboring Retailers Include: Paul Smith, Banana Republic, J.Crew, Coach, 7 for All Mankind, Kenneth Cole, Joe Fresh & Anthropologie

FAITH HOPE CONSOLO JOSEPH AQUINO CHAIRMAN EXECUTIVE VICE PRESIDENT THE RETAIL GROUP

www.elliman.com 212.418.2020 www.faith-consolo.com Knowledge, Expertise, Results.

The Go-To Team for Retail Leasing for More than 20 Years

FAITH HOPE CONSOLO JOSEPH AQUINO CHAIRMAN EXECUTIVE VICE PRESIDENT THE RETAIL GROUP

www.elliman.com 212.418.2020 www.faith-consolo.com TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM POSITION PUBLIC & LEGAL NOTICES AVAILABLE Notice of Qual. of Two Sigma NOTICE OF FORMATION OF LIMITED NOTICE OF FORMATION OF Bitty Notice of Qualification of Davidson Absolute Return Enhanced Fund, LP, LIABILITY (LLC) Name: Abigail Bundles, LLC. Articles of Kempner Long-Term Distressed Financial Analyst Auth. filed Sec’y of State (SSNY) Stewart, LLC. Articles of Organization Organization filed with the Secretary Opportunities Fund LP. Authority filed 5/31/12. Office loc.: NY County. LP filed with the Secretary of State of of State of NY (SSNY) on with NY Dept. of State on 10/10/12. Evaluate investments for a PE fund org. in DE 5/25/12. SSNY desig. as New York (SSNY) on December 6, 11/08/2012. Office location: NEW Office location: NY County. LP formed that invests in EM. Sector focus on agent of LP upon whom process 2012. Office location: New York YORK County. SSNY has been in DE on 1/21/11. NY Sec. of State clean energy & green chem., and against it may be served. SSNY shall County. SSNY designated as agent designated as agent upon whom designated agent of LP upon whom retail & financ. services. Req’d: BS mail copy of proc. to Att: Matthew of LLC upon whom process against process against it may be served. process against it may be served and with double major in business and Siano, 379 W. Broadway, NY, NY it may be served. SSNY shall mail The Post Office address to which the shall mail process to the principal science (chem or bio) and minimum 10012. DE off. addr.: CSC, 2711 copy of process to 140 E. 7th Street, SSNY shall mail a copy of any business addr.: 65 E. 55th St., 19th Fl., Centerville Rd., Wilmington, DE Suite 2K, New York, New York 10009. process against the LLC served NY, NY 10022. DE addr. of LP: of three years as financial analyst 19808. Cert. of LP on file: SSDE, Purpose: to engage in any lawful act upon him/her is: 10 Barclay St., National Corporate Research, Ltd., w/ major U.S. bank. In-depth Townsend Bldg., Dover, DE 19901. or activity for which a limited liability Apt 12B, New York, NY 10007. 615 S. DuPont Hwy., Dover, DE 19901. knowledge of M&A and IPO Name/addr. of each gen. ptr. avail. at company may be formed under The principal business address of the Name/addr. of genl. ptr. available processes; experience evaluating SSNY. Purp.: any lawful activities. section 201 of the Limited Liability LLC is: 10 Barclay St., Apt 12B, from NY Sec. of State. Cert. of LP investments in all of fund’s target Company Law. New York, NY 10007. Purpose: filed with DE Sec. of State, areas and technical understanding GLN NEW YORK LLC, a domestic any lawful act or activity. Townsend Bldg., Dover, DE 19901. Purpose: any lawful activity. of clean energy & green chem. LLC, Arts. of Org. filed with the SSNY NOTICE OF FORMATION OF KFD on 12/13/12. Office location: New Public Relations, LLC. Arts of Org Notice of Formation of The Ivan Knowledge of and exper. w/ standard York County. SSNY is designated as filed with Secy of State of NY (SSNY) Gellegos Rivas LLC. Arts. of Org. Notice of Qual. of Taurasi Capital analytical tools. Fluency in Mandarin agent upon whom process against on 11/13/12. Office location: NY filed Secy. of State of NY (SSNY) on Management LLC, Auth. filed Sec’y of to assist in diligence of investment the LLC may be served. SSNY shall County. SSNY designated as agent 12/6/2012. Off. loc.: NY County. State (SSNY) 3/30/12. Office loc.: NY targets in China. Intl. travel req’d. mail process to: The LLC, c/o upon whom process may be served SSNY designated as agent of LLC County. LLC org. in DE 3/28/12. SSNY Send résumé to: Wolfensohn Fund Elisabeth M. Kovac, Esq., 90 Park and shall mail copy of process upon whom process against it may desig. as agent of LLC upon whom Management, L.P., Att. A. Bijoor, Ave., FL. 18, New York, NY 10016. against LLC to: Corp Service Co., be served. SSNY shall mail process process against it may be served. General Purposes. 80 State St., Albany, NY 12207. to: 1158 5th Ave., Apt. 5B, NY, NY SSNY shall mail copy of proc. to Att: 1350 Ave. of the Americas, Ste. Purpose: any lawful act. 10029. Term: until 12/31/2111. Mark Melchiorre, 711 Fifth Ave., Ste. 2900, New York, NY 10019. NOTICE OF FORMATION OF NO Purpose: any legal purpose. 401, NY, NY 10022. DE off. addr.: CSC, THETA TECHNOLOGY LLC. Arts of NOTICE OF FORMATION OF O 2711 Centerville Rd., Wilmington, DE Org filed with Secy of State of NY Drinks, LLC. Arts of Org filed with NOTICE OF FORMATION OF CITY 19808. Cert. of Form. on file: SSDE, TELECOMMUNICATIONS (SSNY) on 10/29/12. Office location: Secy of State of NY (SSNY) on PROPERTY OF UNION SQUARE, LLC. Townsend Bldg., Dover, DE 19901. NY County. SSNY designated as 10/2/12. Office location: NY County. Arts of Org filed with Secy of State of Purp.: any lawful activities. NYC'S MOTOROLA agent upon whom process may be SSNY designated as agent upon NY (SSNY) on 8/30/12. Office location: served and shall mail copy of whom process may be served and NY County. SSNY designated as NOTICE OF FORMATION OF MOTOTRBO SPECIALISTS process against LLC to principal shall mail copy of process against agent upon whom process may be Terbium Consulting, LLC. Arts of Org business address: 111 Worth St. Apt LLC to principal business address: served and shall mail copy of process filed with Secy of State of NY (SSNY) 14S, NY, NY 10013-4031. Purpose: 245 W 99th St. #7A, NY, NY 10025. against LLC to principal business on 7/10/12. Office location: NY County. any lawful act. Purpose: any lawful act. address: 336 E 86TH ST. NY, NY SSNY designated as agent upon 10028. Purpose: any lawful act. whom process may be served and Notice of Formation of Black House Notice of Formation of 1496-1498 shall mail copy of process against Oriel Development LLC. Arts. of Org. First Avenue, LLC, Art. of Org. filed Notice of Formation of MARY AND LLC to principal business address: filed with NY Dept. of State on Sec’y of State (SSNY) 10/26/12. Office VIKRAM MALHOTRA FAMILY, LLC. 15 STUYVESANT OVAL #6D, NY NY 11/13/12. Office location: NY County. location: NY County. SSNY designated Arts. of Org. filed with Secy. of State 10009. Purpose: any lawful act. Sec. of State designated agent of LLC as agent of LLC upon whom process of NY (SSNY) on 11/20/12. Office upon whom process against it may against it may be served. SSNY shall location: NY County. SSNY desig- Notice of Formation of VERTICAL be served and shall mail process to mail copy of process to c/o R. John nated as agent of LLC upon whom LINE GROUP, LLC. Arts. of Org. filed the principal business address: 200 Punnett, Punnett Realty Co., 1345 process against it may be served. with Secy. of State of NY (SSNY) on Park Ave. So., Ste. 1320, NY, NY Third Ave., NY, NY 10021. Purpose: SSNY shall mail process to the LLC, 11/16/12. Office location: NY 10003, Attn: Sean Ludwick, Manager. any lawful activities. 168 E. 74th St., Apt. 4C, NY, NY County. Princ. office of LLC: 1745 Purpose: all lawful purposes. 10021. Purpose: Any lawful activity. Broadway, 18th Fl., NY, NY 10019. SSNY designated as agent of LLC Notice of Formation of 5W127 LLC. upon whom process against it may Notice of Formation of Black House Arts. of Org. filed with NY Dept. of TOOLS FOR SUCCESS CONSULTING LLC Articles of Org. filed NY Sec. of be served. SSNY shall mail process 33 East 33rd Street Oriel Management LLC. Arts. of Org. State on 11/26/12. Office location: to the LLC at the addr. of its princ. filed with NY Dept. of State on NY County. Sec. of State designated State (SSNY) 11/29/12. Office in NY New York, NY 10016 Co. SSNY desig. agent of LLC upon office. Purpose: Any lawful activity. 212-532-7400 11/13/12. Office location: NY County. agent of LLC upon whom process Sec. of State designated agent of LLC against it may be served and shall whom process may be served. www.metrocomradio.com NOTICE OF QUALIFICATION of upon whom process against it may mail process to: 1608 S. Ashland SSNY shall mail copy of process to Viking Compass LLC. Authority filed be served and shall mail process to Ave. #64002, Chicago, IL 60608, c/o Foster & Wolkind, P.C., 80 5th with Secy of State of NY (SSNY) on the principal business address: 200 principal business address. Ave., Ste. 1401, NY, NY 10011. 10/22/12. Office location: NY County. Park Ave. So., Ste. 1320, NY, NY Purpose: all lawful purposes. Purpose: Any lawful purpose. LLC formed in DE on 9/25/12. SSNY PUBLIC & LEGAL 10003, Attn: Sean Ludwick, Manager. Principal business location: 230 W. 97th St., #7B, NY, NY 10025. designated agent upon whom process Purpose: all lawful purposes. NOTICE OF FORMATION OF Cabin NOTICES may be served and shall mail copy of Of Pockets In The Sky, LLC. Arts of process against LLC to principal Org filed with Secy of State of NY NOTICE OF FORMATION OF The Name of PLLC: Beugelmans, PLLC. business address: 146 Duane St Apt NOTICE OF FORMATION OF (SSNY) on 11/13/12. Office location: NY Nerdlet Cards LLC. Arts of Org filed Arts. of Org. filed with NY Dept. of 4C, NY, NY 10013. Cert of LLC filed UNUSUAL MUSIAL TRANSPORT LLC. County. SSNY designated as agent with Secy of State of NY (SSNY) on State: 10/9/12. Office loc.: NY Co. with Secy of State of DE located: Arts of Org filed with Secy of State of upon whom process may be served 7/30/12. Office location: NY County. Sec. of State designated agent of 401 Federal St #3, Dover, DE 19901. NY (SSNY) on 10/5/12. Office location: and shall mail copy of process SSNY designated as agent upon PLLC upon whom process against it Purpose: any lawful act. NY County. SSNY designated as against LLC to principal business whom process may be served and agent upon whom process may be may be served and shall mail shall mail copy of process against process to: c/o Business Filings Inc., address: 146 W 57th St., #32L, NY, served and shall mail copy of process NY 10019. Purpose: any lawful act. LLC to principal business address: NOTICE OF FORMATION OF LIMITED against LLC to principal business 187 Wolf Rd., Ste. 101, Albany, NY 154 W 15th St #4B, NY, NY 10011. LIABILITY COMPANY. NAME: 10 W address: 40 Macdougal St unit 9, NY 12205, regd. agt. upon whom Purpose: any lawful act. 18TH OWNER LLC. Application for NY 10012. Purpose: any lawful act. process may be served. Purpose: Notice of Formation of MANW LLC. Authority was filed with the Secretary practice the profession of law. Arts. of Org. filed with Secy. of State NOTICE OF FORMATION OF White of State of New York (SSNY) on GRAN LOPEZ ARCHITECTS AND of NY (SSNY) on 05/07/12. Office House Consulting LLC. Arts of Org 11/19/12. The LLC was originally filed PLANNERS, LLC, a Prof. LLC. Arts. of NOTICE OF FORMATION of SMLM, location: NY County. Princ. office of filed with Secy of State of NY (SSNY) with the Secretary of State of Org. filed with the SSNY on 11/16/2012. LLC Art. of Org filed Sec’y of State LLC: 1 Central Park West, Apt. 36C, on 8/13/12. Office location: NY Delaware on 10/09/12. Office location: Office location: NY County. SSNY has (SSNY) 11/6/12. Office location: NY, NY 10023. SSNY designated as County. SSNY designated as agent New York County. SSNY has been been designated as agent upon whom New York County. SSNY designated agent of LLC upon whom process upon whom process may be served designated as agent of the LLC upon process against it may be served. SSNY as agent of LLC upon whom process against it may be served. SSNY shall and shall mail copy of process whom process against it may be shall mail process to: 21 West St., 19B, against it may be served. SSNY mail process to c/o Neil Witrol, P.O. against LLC to principal business served. SSNY shall mail a copy of NY, NY 10006. Purpose: To Practice shall mail copy of process to Beth Box 307, Pound Ridge, NY 10576. address: 337 W.43rd St., Ste 3A, NY, process to the LLC, c/o The Moinian The Profession Of Architecture. Kaufman, Schoeman, Updike & Purpose: Any lawful activity. NY 10036. Purpose: any lawful act. Group, 530 Fifth Avenue, Suite 1800, Kaufman, LLP, 551 Fifth Avenue, New York, New York 10036. Notice of Qualification of LORELEI New York, NY 10176. Purpose: any Notice of Qualification of Fairmont Notice of Qualification of HORATIO Purpose: For any lawful purpose. PROPERTY LLC. Authority filed with lawful activities. Hotels & Resorts (Maryland) LLC. DEVELOPMENT LLC. Authority filed Secy. of State of NY (SSNY) on Authority filed with NY Dept. of State with Secy. of State of NY (SSNY) on Notice of Qualification of Davidson 12/19/12. Office location: NY County. Notice of Qualification of BLDG on 11/28/12. Office location: NY 11/19/12. Office location: NY County. Kempner Long-Term Distressed LLC formed in Delaware (DE) on CANAL LLC. App. for Auth. filed County. Princ. bus. addr.: 805 3rd LLC formed in Delaware (DE) on Opportunities GP LLC. Authority filed 03/23/12. SSNY designated as agent Secy. of State of NY (SSNY) on Ave., 15th Fl., NY, NY 10022. LLC 11/14/12. Princ. office of LLC: 152 with NY Dept. of State on 10/10/12. of LLC upon whom process against 11/28/12. Off. loc.: NY County. LLC formed in MD on 5/22/12. NY Sec. of W. 57th St., 60th Fl., NY, NY 10019. Office location: NY County. LLC it may be served. SSNY shall mail formed in Delaware (DE) on 7/9/12. State designated agent of LLC upon SSNY designated as agent of LLC formed in DE on 1/21/11. NY Sec. of process to c/o Sandra Viana Esq., SSNY designated as agent of LLC whom process against it may be upon whom process against it may State designated agent of LLC upon Withers Bergman LLP, 430 Park Ave., upon whom process against it may served and shall mail process to: c/o be served. SSNY shall mail process whom process against it may be 10th Fl., NY, NY 10022. DE addr. of be served. SSNY shall mail process CT Corporation System, 111 8th to the LLC at the princ. office of the served and shall mail process to the LLC: c/o Corporation Service Co., to: c/o 417 Fifth Ave., 4th Fl., NY, NY Ave., NY, NY 10011, regd. agent LLC. DE addr. of LLC: Corporation principal business addr.: 65 E. 55th 2711 Centerville Rd., Ste. 400, 10016. DE address of LLC: c/o upon whom process may be served. Service Co., 2711 Centerville Rd., Ste. St., 19th Fl., NY, NY 10022. DE addr. Wilmington, DE 19808. Arts. of Org. United Corporate Services, Inc., 874 MD addr. of LLC: 5 Indian Head Ave., 400, Wilmington, DE 19808. Arts. of of LLC: National Corporate Research, filed with DE Secy. of the State, Div. Walker Road, Ste. C, Dover, DE Indian Head, MD 20640. Cert. of Org. Org. filed with DE Secy. of State, Div. Ltd., 615 S. DuPont Hwy., Dover, DE of Corps., John G. Townsend Bldg., 19904. Arts. of Org. filed DE Secy. of filed with MD Sec. of State, 301 W. of Corps., John G. Townsend Bldg., 19901. Cert. of Form. filed with DE Sec. 401 Federal St. - Ste. 4, Dover, DE State, Townsend Bldg., Dover, DE Preston St., Rm. 801, Baltimore, MD 401 Federal St., Ste. 4, Dover, DE of State, Townsend Bldg., Dover, DE 19901. Purpose: Any lawful activity. 19901. Purpose: any lawful activity. 21201. Purpose: all lawful purposes. 19901. Purpose: Any lawful activity. 19901. Purpose: any lawful activity.

34 | Crain’s New York Business | January 14, 2013 TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of BiologicTx, Notice of Qualification of BLACKSTONE NOTICE OF FORMATION OF LIMITED Notice of Qualification of 115 West NOTICE OF FORMATION OF LLC. Authority filed with Secy. of ALTERNATIVE INVESTMENT ADVISORS LIABILITY COMPANY. NAME: 100 86th Street LLC. Authority filed with FRONTIER SCHOLARS LLC. State of NY (SSNY) on 12/10/12. LLC. Authority filed with Secy. of HALSEY LANE SOUTH LLC. Secy. of State of NY (SSNY) on Articles of Organization filed with Office location: NY County. LLC State of NY (SSNY) on 12/04/12. Application for Authority was filed with 11/13/12. Office location: NY County. the Secretary of State of NY (SSNY) formed in Nevada (NV) on 2/16/11. Office location: NY County. LLC the Secretary of State of New York LLC formed in Delaware (DE) on on 11/13/2012. Office location: SSNY designated as agent of LLC formed in Delaware (DE) on 09/13/12. (SSNY) on 09/25/12. The LLC was 11/9/12. SSNY designated as agent NEW YORK County. SSNY has upon whom process against it may be Princ. office of LLC: 345 Park Ave., originally filed with the Secretary of of LLC upon whom process against it been designated as agent upon served. SSNY shall mail process to: NY, NY 10154. SSNY designated as State of Delaware on 09/20/12. Office may be served. SSNY shall mail whom process against it may be National Registered Agents, Inc., 111 agent of LLC upon whom process location: New York County. SSNY has process to: Goldfarb & Fleece LLP, Attn: served. The principal business Eighth Ave., NY, NY 10011, also the against it may be served. SSNY shall been designated as agent of the LLC Partner-in-charge of Rudin matters, 345 address and the address to which registered agent. Principal office mail process to c/o The Blackstone upon whom process against it may be Park Ave., NY, NY 10154. Address to be the SSNY shall mail a copy of any address: 40D Commerce Way, Group, Attn: Chief Legal Officer at served. SSNY shall mail a copy of maintained in DE: National Registered process against the LLC served Totowa, NJ 07512. Arts of Org. filed the princ. office of the LLC. DE addr. process to the LLC, c/o Peterson Agents, Inc., 160 Greentree Dr., Ste. upon him/her is: THE LLC: 41 with the NV Secretary of State, NV of LLC: c/o The Corporate Trust Co., Management LLC, 712 Fifth Avenue, 101, Dover, DE 19904. Arts of Org. ELIZABETH ST, STE 600, NEW State Capitol Bldg., 101 North Carson Corp. Trust Center, 1209 Orange St., 48th Floor, New York, New York 10019. filed with the DE Secretary of State, YORK, NY 10013. Purpose: any St., Ste. 3, Carson City, NV 89701. Wilmington, DE 19801. Arts. of Org. Purpose: For any lawful purpose. John G. Townsend Bldg., 401 lawful act or activity. Purpose: any lawful activities. filed with Secy. of State of DE, Dept. Federal St., Dover, DE 19901. of State, Div. of Corps., John G. Purpose: any lawful activities. Notice of Qual. of Two Sigma Active JENNIFER HARMAN SMITH, FEELGOODNYC, LLC, a domestic LLC, Townsend Bldg., Dover, DE 19901. Extension U.S. All Cap Equity Fund, Purpose: Any lawful activity. ARCHITECT, PLLC Articles of Org. Arts. of Org. filed with the SSNY on LP, Auth. filed Sec’y of State (SSNY) Notice of Qualification of GA HOUSING filed NY Sec. of State (SSNY) 1/4/13. 5/2/12. Office location: New York 6/5/12. Office loc.: NY County. LP LLC. Authority filed with Secy. of State Office in NY Co. SSNY desig. agent County. SSNY is designated as Notice of Formation of Shanta Rattan org. in DE 6/4/12. SSNY desig. as of NY (SSNY) on 11/21/12. Office of LLC upon whom process may be agent upon whom process against Skin Care, LLC. Arts. of Org. filed Secy. agent of LP upon whom process location: NY County. LLC formed in served. SSNY shall mail copy of the LLC may be served. SSNY shall of State of NY (SSNY) on 8/22/12. Off. against it may be served. SSNY shall Delaware (DE) on 10/12/12. SSNY process to 330 E. 71st St., Apt. 5C, mail process to: The LLC, 555 E. loc.: NY County. SSNY designated mail copy of proc. to Att: Matthew designated as agent of LLC upon whom NY, NY 10021. Purpose: To practice 78th St., Apt. 2B, NY, NY 10075. as agent of LLC upon whom process Siano, 379 W. Broadway, NY, NY process against it may be served. the profession of Architecture. General Purposes. against it may be served. SSNY shall 10012. DE off. addr.: CSC, 2711 SSNY shall mail process and DE mail process to: c/o Fred Weiss, 711 Centerville Rd., Wilmington, DE addr. to c/o Delaware Incorporators LINGHUAN LLC, a domestic LLC, West End Ave., Unit 5DS, NY, NY 19808. Cert. of LP on file: SSDE, & Registration Service, LLC, 1007 KCT ABSTRACT LLC, Arts. of Org. Arts. of Org. filed with the SSNY on 10025. Purpose: any lawful activity. Townsend Bldg., Dover, DE 19901. Orange St., Ste. 1410, Nemours filed with SSNY on 12/13/12. Off. Loc.: 11/28/12. Office location: New York Name/addr. of each gen. ptr. avail. at Bldg., Wilmington, DE 19801. Arts. of New York County. SSNY designated County. SSNY is designated as NOTICE OF FORMATION OF CITY SSNY. Purp.: any lawful activities. Org. filed with Secy. of State of DE, as agent of LLC upon whom agent upon whom process against PROPERTY OF HARLEM, LLC. Arts 401 Federal St., Ste. 4, Dover, DE process against it may be served. the LLC may be served. SSNY of Org filed with Secy of State of NY Notice of Formation of Infinity AL 19901. Purpose: Any lawful activity. SSNY shall mail a copy of process shall mail process to: The LLC, 200 (SSNY) on 8/30/12. Office location: NY Kassin Members LLC, Art. of Org. to: The LLC, 28 Elizabeth St., #200, E. 66 St., #D11-01, NY, NY 10065. County. SSNY designated as agent filed Sec’y of State (SSNY) 11/2/12. New York, NY 10013. Purpose: to Notice of formation of Alemarc, LLC engage in any lawful act. General Purposes. upon whom process may be served Office location: NY County. SSNY Arts. of Org. filed with the Sect’y of and shall mail copy of process designated as agent of LLC upon whom State of NY (SSNY) on 11/28/2012. Notice of Formation of JAJ Music, LLC. against LLC to principal business process against it may be served. Office location: County of New York. Notice of formation of Jane Brain LLC Arts. of Org. filed with Secy. of State of address: 336 E 86TH ST. NY, NY SSNY shall mail copy of process to SSNY has been designated as agent Arts. of Org. filed with the Sect’y of NY (SSNY) on 12/19/12. Office 10028. Purpose: any lawful act. 1407 Broadway, 30th Fl., NY, NY of the LLC upon whom process against State of NY (SSNY) on 10/18/2012. location: NY County. SSNY designated 10018. Purpose: any lawful activities. it may be served. SSNY shall mail Office location, County of New York. as agent of LLC upon whom process Notice is hereby given that a license, process to: Eleven Madison Avenue, NY, SSNY has been designated as agent against it may be served. SSNY serial number 1266714 for BELLA FORZA, LLC, Arts. of Org. NY 10010. Purpose: any lawful act. of the LLC upon whom process shall mail process to: National Restaurant Wine has been applied filed with the SSNY on 10/24/2012. against it may be served. SSNY shall Registered Agents, Inc., 111 Eighth Ave., for by the undersigned to sell Beer Office loc: NY County. SSNY has Notice of Qualification of BEEKMAN mail process to: The LLC, 497 NY, NY 10011, also the registered and Wine at retail in a restaurant been designated as agent upon whom RESIDENTIAL SUITES LLC. Authority Greenwich St., Unit 3C, NY, NY agent. Purpose: any lawful activities. under the Alcoholic Beverage Control process against the LLC may be filed with Secy. of State of NY (SSNY) 10013. Purpose: any lawful act. Law at 76 Nassau Street, New York, served. SSNY shall mail process to: on 12/10/12. Office location: NY MAHARJAN GROUP LLC, a domestic New York 10038 for on premises 34 Bethune St., 1F, NY, NY 10014. County. LLC formed in Delaware (DE) Notice of Formation of HESHANDSON, LLC, Arts. of Org. filed with the SSNY consumption. 76 Nassau Street Purpose: Any Lawful Purpose. on 11/14/12. SSNY designated as LLC. Arts. of Org. filed with Secy. of on 9/24/12. Office location: New Corp. d/b/a Sabor De Mexico. agent of LLC upon whom process State of NY (SSNY) on 03/02/12. York County. SSNY is designated as FORTGANG & DELGADO DIAMONDS, against it may be served. SSNY shall Office location: NY County. SSNY agent upon whom process against Notice of Qualification of Tiger LLC, a domestic LLC, Arts. of Org. mail process to c/o Corporation designated as agent of LLC upon the LLC may be served. SSNY shall Pacific Partners LLC. App. for Auth. filed with the SSNY on 8/22/12. Service Co. (CSC), 80 State St., Albany, whom process against it may be mail process to: The LLC, 51-01 filed Secy. of State of NY (SSNY) on Office location: New York County. NY 12207-2543. DE addr. of LLC: c/o served. SSNY shall mail process to 39th Ave., Sunnyside, NY 11104. 8/30/12. Off. loc.: NY County. LLC SSNY is designated as agent upon CSC, 2711 Centerville Rd., Ste. 400, the LLC, 366 Amsterdam Ave., #201, General Purposes. formed in Delaware (DE) on 8/28/12. whom process against the LLC may New Castle, DE 19808. Arts. of Org. NY City, NY 10024. Purpose: Any SSNY designated as agent of LLC be served. SSNY shall mail process filed with State of DE, Secy. of State, lawful activity. RAI MARKETING LLC, a domestic upon whom process against it may to: The LLC, 48 W 48th St. Ste 705, Div. of Corps., PO Box 898, Dover, DE LLC, Arts. of Org. filed with the SSNY be served. SSNY shall mail process NY, NY 10036. General Purposes. 19903. Purpose: Any lawful activity. NOTICE OF FORMATION OF CITY on 10/15/12. Office location: New to: 8100 River Road, Apt. 811, North PROPERTY OF MURRAY HILL, LLC. York County. SSNY is designated as Bergen, NJ 07047. DE address of 168 WEST 4TH LLC Articles of Org. NOTICE OF FORMATION OF CITY Arts of Org filed with Secy of State of agent upon whom process against LLC: 3422 Old Capitol Trail, Ste. 700, filed NY Sec. of State (SSNY) PROPERTY OF TIMES SQUARE, LLC. NY (SSNY) on 8/30/12. Office location: the LLC may be served. SSNY shall Wilmington, DE 19808. Arts. of Org. 11/6/12. Office in NY Co. SSNY Arts of Org filed with Secy of State of NY County. SSNY designated as mail process to: Attn: Robert Ingram, filed DE Secy. of State, 401 Federal desig. agent of LLC upon whom NY (SSNY) on 8/30/12. Office location: agent upon whom process may be 425 E. 58th St., Apt. 27H, NY, NY St., Ste. 4, Dover, DE 19901. process may be served. SSNY NY County. SSNY designated as served and shall mail copy of process 10022. General Purposes. Purpose: any lawful activity. shall mail copy of process to 168 W. agent upon whom process may be against LLC to principal business 4th St., NY, NY 10014, which is also served and shall mail copy of process address: 336 E 86TH ST. NY, NY NOTICE OF FORMATION OF 2E Notice of Qualification of Genilogix the principal business location. against LLC to principal business 10028. Purpose: any lawful act. Ventures LLC. Articles of LLC. App. for Auth. filed Secy. of Purpose: Any lawful purpose. address: 336 E 86TH ST. NY, NY Organization filed with the Secretary State of NY (SSNY) on 10/9/12. Off. 10028. Purpose: any lawful act. loc.: NY County. LLC formed in Notice of Qualification of CCHB 34TH of State of NY (SSNY) on 11/27/2012. NOTICE OF FORMATION OF ST, LLC. Authority filed with Secy. of Office location: New York County. Delaware (DE) on 2/27/01. SSNY designated as agent of LLC upon Psychotherapy Space LLC. Arts of Notice of formation of Goldart State of NY (SSNY) on 11/29/12. SSNY has been designated as agent Org filed with Secy of State of NY Consulting LLC. Arts. of Org. filed Office location: NY County. LLC upon whom process against it may whom process against it may be served. SSNY shall mail process to: (SSNY) on 1/18/12. Office location: with Secy. of State of NY (SSNY) on formed in Delaware (DE) on 5/10/12. be served. The Post Office address NY County. SSNY designated as 8/30/12. Office location: NY Country. SSNY designated as agent of LLC to which the SSNY shall mail a copy c/o CT Corporation System, 111 8th Ave., NY, NY 10011, the registered agent upon whom process may be SSNY designated as agent upon upon whom process against it may be of any process against the LLC served and shall mail copy of whom process may be served and served. SSNY shall mail process to served upon her is: 8 Sunset Lane, agent upon whom process may be served. DE address of LLC: 3500 S. process against LLC to principal shall mail copy of process against c/o Corporation Service Co., 80 State Harrison, NY, 10528. The principal business address: 39 E 78th St, NY, LLC to its principal business St., Albany, NY 12207-2543. DE addr. business address of the LLC is: 8 DuPont Hwy., Dover, DE 19901. Arts. of Org. filed DE Secy. of State, 401 NY 10075. Purpose: any lawful act. address: 160 W. 16 St., 3G, NY NY of LLC: c/o 2711 Centerville Rd., Ste. Sunset Lane, Harrison, NY, 10528. 10011. Purpose: any lawful act. 400, Wilmington, DE 19808. Cert. of Purpose: any lawful act of activity. Federal St., Ste. 4, Dover, DE 19901. Purpose: all lawful purposes. Notice of Qualification of BREF Form. filed with Secy. of State of DE, BAHAMAS MANAGEMENT, LLC. Notice of Qualification of Avalon 401 Federal St., Ste. 4, Dover, DE Notice of Qualification of JL Holdings Authority filed with Secy. of State of Ossining, LLC. Authority filed with NY 19901. Purpose: Any lawful activity. 2002 LLC. Authority filed with Secy. NY (SSNY) on 12/20/12. Office Dept. of State on 11/20/12. Office of State of NY (SSNY) on 11/29/12. location: NY County. LLC formed in location: NY County. Princ. bus. addr.: Notice of Qualification of Tiger Pacific Office location: NY County. LLC Delaware (DE) on 12/12/11. Princ. 671 N. Glebe Rd., Arlington, VA Capital Holdings LLC. App. for Auth. To place your formed in Delaware (DE) on 9/6/02. office of LLC: 200 Vesey St., 11th Fl., 22203. LLC formed in DE on 11/16/12. filed Secy. of State of NY (SSNY) on SSNY designated as agent of LLC NY, NY 10281. SSNY designated as NY Sec. of State designated agent of 11/28/12. Off. loc.: NY County. LLC upon whom process against it may be agent of LLC upon whom process LLC upon whom process against it formed in Delaware (DE) on 9/7/12. classified ad call served. SSNY shall mail process to: against it may be served. SSNY shall may be served and shall mail process SSNY designated as agent of LLC The LLC, 950 Third Ave., Ste. 2300, mail process to c/o Corporation to: c/o CT Corporation System, 111 upon whom process against it may be NY, NY 10022, also the principal Service Co. (CSC), 80 State St., 8th Ave., NY, NY 10011, regd. agent served. SSNY shall mail process to: Joanne Barbieri office address. Address to be Albany, NY 12207-2543. DE addr. of upon whom process may be served. 101 Park Ave., 47th Fl., NY, NY 10178. maintained in DE: 160 Greentree Dr., LLC: c/o CSC, 2711 Centerville Rd., DE addr. of LLC: The Corporation DE address of LLC: c/o Corporation Ste. 101, Dover, DE 19904. Arts of Wilmington, DE 19808. Arts. of Org. Trust Co., 1209 Orange St., Service Company, 2711 Centerville @ 212-210-0189 Org. filed with the DE Secretary of filed with DE Secy. of State, John G. Wilmington, DE 19801. Cert. of Form. Road, Ste. 400, Wilmington, DE State, John G. Townsend Bldg., 401 Townsend Bldg., 401 Federal St., filed with DE Sec. of State, 401 19808. Cert. of Form. filed DE Secy. Federal St., Ste. 4, Dover, DE 19901. Ste. 4, Dover, DE 19901. Purpose: Federal St., Dover, DE 19901. of State, Townsend Bldg., Dover, DE Purpose: any lawful activities. Any lawful activity. Purpose: all lawful purposes. 19901. Purpose: any lawful activity.

January 14, 2013 | Crain’s New York Business | 35 TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of Beacon Notice of Qualification of AIF VIII Notice of Qualification of Cerberus Notice of Qualification of Bronx Union NOTICE OF FORMATION of A LA Court LLC. Authority filed with NY MANAGEMENT, LLC. Authority filed AUS Levered Opportunities Master Holdings, LLC. Authority filed with NY RUSSE FASHION BOUTIQUE, LLC. Dept. of State on 12/21/12. Office with Secy. of State of NY (SSNY) on Fund GP, LLC. Authority filed with NY Dept. of State on 12/11/12. Office Article of Organization filed with the location: NY County. LLC formed in 12/19/12. Office location: NY County. Dept. of State on 12/5/12. Office location: NY County. Princ. bus. addr.: Secretary of State of NY (SSNY) on DE on 12/11/12. NY Sec. of State LLC formed in Delaware (DE) on location: NY County. Princ. bus. addr.: c/o Regency Equity Partners, 101 12/14/2012. Office location: NY designated agent of LLC upon whom 10/23/12. Princ. office of LLC: 9 W. 57th 875 Third Ave., NY, NY 10022. LLC Eisenhower Pkwy., Roseland, NJ County. SSNY has been designated process against it may be served St., 43rd Fl., NY, NY 10019. SSNY formed in DE on 11/29/12. NY Sec. 07068. LLC formed in DE on 12/4/12. as agent upon whom process and shall mail process to: c/o Anna designated as agent of LLC upon whom of State designated agent of LLC NY Sec. of State designated agent of against it may be served. The Post Kazakova, Esq., Withers Bergman process against it may be served. upon whom process against it may be LLC upon whom process against it Office address to which the SSNY LLP, 430 Park Ave., 10th Fl., NY, NY SSNY shall mail process to the LLC, served and shall mail process to: c/o may be served and shall mail process shall mail a copy of any process 10022, principal business address. Attn: John J. Suydam at the princ. CT Corporation System, 111 8th to: c/o CT Corporation System, 111 against the LLC served upon him is DE address of LLC: c/o The office of the LLC. DE addr. of LLC: Ave., NY, NY 10011. DE addr. of LLC: 8th Ave., NY, NY 10011, regd. agent C/O United States Corporation Corporation Trust Co., 1209 Orange c/o Corporation Service Co., 2711 c/o The Corporation Trust Co., 1209 upon whom process may be served. Agents, Inc. 7014 13th Avenue, Suite St., Wilmington, DE 19801. Cert. of Centerville Rd., Ste. 400, Wilmington, Orange St., Wilmington, DE 19801. DE addr. of LLC: 1209 Orange St., 202, Brooklyn, NY 11228. Purpose Form. filed with DE Sec. of State, New Castle Cnty., DE 19808. Arts. of Cert. of Form. filed with DE Sec. of Wilmington, DE 19801. Cert. of of LLC: to engage in any lawful act 401 Federal St., Dover, DE 19901. Org. filed with The Secy. of State of State, 401 Federal St., Dover, DE Form. filed with DE Sec. of State, or activity. Street address of Principal Purpose: all lawful purposes. DE, Dept. of State, Div. of Corps., 19901. Purpose: all lawful purposes. 401 Federal St., Dover, DE 19901. Business location is: 433 E 75 St., John Townsend Bldg., Dover, DE Purpose: all lawful purposes. Apt 22, New York, NY, 10021. Notice of Formation of 1255 Sunrise, 19901. Purpose: Any lawful activity. NOTICE OF FORMATION OF LLC. Articles of Organization filed with BRIDGEHAMPTON MOTOR CLUB NOTICE OF FORMATION OF LIMITED NOTICE OF FORMATION OF the Sec. of State of NY (SSNY) on NOTICE OF FORMATION OF Mana LLC. Arts of Org filed w/ Secy of LIABILITY COMPANY. LVL-US, LLC,. Entertainment Athletica LLC. Arts of 12-06-12. Office location: New York Massage Therapy and Acupuncture State of NY (SSNY) 7/2/12. Office Articles of Organization were filed with Org filed with Secy of State of NY County. SSNY has been designated PLLC. Arts of Org filed with Secy of location: NY Co. SSNY designated the Secretary of State of New York (SSNY) on 5/11/12. Office location: as agent upon whom process against State of NY (SSNY) on 11/28/12. agent upon whom process may be (SSNY) 12/6/12. Office location: NY NY County. SSNY designated as it may be served and shall mail a Office location: NY County. SSNY served and shall mail copy of County. SSNY has been designated agent upon whom process may be copy of any process against the LLC designated as agent upon whom process against LLC to: 302 Bedford as agent of the LLC upon whom served and shall mail copy of process to: CT Corporation System, 111 8th process may be served and shall Ave., #165, Bklyn, NY 11249. Prncpl process against it may be served against LLC to principal b\usiness Ave., New York, NY 10011. The mail copy of process against LLC to: bsnss addss: 220 Centre St, NY, NY and shall mail a copy of process to address:145 E 15th St Apt 16S, NY, principal business address of the 302 Bedford Ave. #165 Bklyn, NY 10013. Purpose: any lawful act. LVL-US, LLC, 708 Third Avenue, NY 10003. Purpose: any lawful act. LLC is: 111 8th Ave., New York, NY 11249. Principal business address: 20th fl., New York, New York, 10017, 10011. Purpose: any lawful activity. 78 Crosby St. NY, NY 10012. Notice of Formation of PR NYC, LLC. attention Rubin Ferziger. Purpose: Purpose: any lawful act. for any lawful purpose. NOTICE OF FORMATION OF Tech-Over Arts. of Org. filed with Secy. of State LLC. Articles of Organization filed NOTICE OF FORMATION OF of NY (SSNY) on 03/16/12. Office with the Secretary of State of New Aurynion LLC. Arts of Org filed with Notice of Formation of LEAP WORKS location: NY County. Princ. office of Notice of Qual. of Taurasi Capital GP York on August 15, 2012. Office Secy of State of NY (SSNY) on PRODUCTIONS, LLC. Arts. of Org. LLC: 175 E. 79th St., 17th Fl., NY, NY LLC, Auth. filed Sec’y of State (SSNY) location: NY County. Secretary of 10/1/12. Office location: NY County. filed with Secy. of State of NY 10075. SSNY designated as agent of 3/30/12. Office loc.: NY County. LLC State of New York is designated as an SSNY designated as agent upon (SSNY) on 11/27/12. Office location: LLC upon whom process against it org. in DE 3/28/12. SSNY desig. as agent upon whom process may be whom process may be served and NY County. Princ. office of LLC: c/o may be served. SSNY shall mail agent of LLC upon whom process served and shall mail copy of process shall mail copy of process against Dana Rubin, 25 W. 13th St., Apt. LAS, process to the LLC, c/o Georgette against it may be served. SSNY shall against LLC to principal business LLC to: 7014 13th Ave, Ste 202, NY, NY 10011. SSNY designated as Farkas at the princ. office of the LLC. mail copy of proc. to Att: Mark address: 447 Broadway, 2nd Fl, NY, Bklyn, NY 11228. Principal business agent of LLC upon whom process Purpose: Any lawful activity. Melchiorre, 711 Fifth Ave., Ste. 401, NY 10013. Purpose: Any lawful act. address: 222 E 34th St, Ste 1818, NY, against it may be served. SSNY NY, NY 10022. DE off. addr.: CSC, NY 10016. Purpose: any lawful act. shall mail process to the LLC at the 2711 Centerville Rd., Wilmington, DE Notice of Formation of Lavan 265 LAFAYETTE RISTORANTE LLC, addr. of its princ. office. Purpose: 19808. Cert. of Form. on file: SSDE, Associates LLC. Arts. of Org. filed Arts. of Org. filed with the SSNY on NOTICE OF FORMATION OF Tristero Any lawful activity. Townsend Bldg., Dover, DE 19901. Secy. of State of NY (SSNY) on 12/12/2012. Office loc: NY County. Properties LLC. Arts of Org filed with Purp.: any lawful activities. Secy of State of NY (SSNY) on 11/8/12. 11/21/12. Off. loc.: NY County. SSNY has been designated as agent Notice of formation of Taravelli LLC. Office location: NY County. SSNY SSNY designated as agent of LLC upon whom process against the LLC Articles of Organization filed New York Notice of Formation of HW/GW LLC. designated as agent upon whom upon whom process against it may may be served. SSNY shall mail Sec. of State (“NYSS”) 10/24/12. Arts. of Org. filed with Secy. of State process may be served and shall mail be served. SSNY shall mail process process to: C/O G&D Restaurant Office loc. New York County. NYSS of NY (SSNY) on 12/21/2012. Office copy of process against LLC to: to: c/o R.A. Cohen & Associates, Associates LLC, 136 E. 57th St, Ste designated as agent of LLC upon location: NY County. Princ. office of InCorp Services, Inc., One Commerce Inc., 60 E. 42nd St., Ste. 850, NY, NY # 600, NY, NY 10022. Purpose: Any whom process against it may be LLC: c/o Schiff Hardin LLP, 666 5th Plaza - 99 Washington Ave., Suite 10165. Purpose: any lawful activity. Lawful Purpose. served. NYSS shall mail a copy of any Ave., 17th Fl., NY, NY 10103. SSNY 805-A, Albany, NY 12210-2822. process to c/o The LLC, 628 E. 20th designated as agent of LLC upon Principal business address: New MEIGHT PRODUCTION LLC, Articles NOTICE OF FORMATION OF ID St., Apt. 9F, NY, NY 10009. There is whom process against it may be York City. Purpose: any lawful act. of Org. filed N.Y. Sec. of State (SSNY) ATELIER LLC. Arts of Org filed with served. SSNY shall mail process to no specific date set for dissolution. 22nd day of October, 2012. Office in Secy of State of NY (SSNY) on Corporation Service Co., 80 State Purpose: to engage in any lawful New York Co. at 540 Broadway, 5th 11/9/12. Office location: NY County. APP FOR AUTH for XFA SECURITIES, St., Albany, NY 12207-2543. activity or act. Floor, New York, New York 10012. SSNY designated as agent upon LLC. App for Auth filed with SSNY Purpose: Any lawful activity. 10/18/2012. LLC registered in SSNY desig. agt. upon whom process whom process may be served and Delaware on 10/12/2012. Off. Loc.: Notice of Formation of MILA Research may be served. SSNY shall mail copy shall mail copy of process against Notice of Formation of 54 WEST New York Co. SSNY designated as & Advisory LLC. Articles of Org. of process to 540 Broadway, 5th LLC to: US Corp Agents, Inc. 7014 71ST STREET LLC. Arts. of Org. filed agent upon whom process against it filed with Secy. of State of NY Floors, New York, New York 10012. 13th Ave, Ste 202, Bklyn, NY 11228. with Secy. of State of NY (SSNY) on may be served. SSNY to mail copy (SSNY) on 10/16/12. Office location: Reg.Agt. upon whom process may be Principal business address: 17 11/14/12. Office location: NY County. of process to THE LLC C/O Edward NY County. SSNY designated as served: Spiegel & Utrera, P.A., P.C. 1 Pershing Ave, Yonkers, NY 10705. Princ. office of LLC: 54 W. 71st St., Lynn, 61 Broadway, Suite 1110, New agent upon whom process against it Maiden Lane, NYC 10038. 1 800 576- Purpose: any lawful act. NY, NY 10023. SSNY designated as York, NY 10006. Purpose: Any lawful may be served. SSNY shall mail 1100. Purpose: Any lawful purpose. agent of LLC upon whom process act or activity. process to: Jennifer M. Cordero 55 Notice of Qualification of CE Renwick West 116th Street, Suite 350, New NOTICE OF FORMATION OF LIMITED against it may be served. SSNY shall mail process to c/o Ann Veltri, 111 LLC. Authority filed with NY Dept. of Notice of Qual. of Truck Capital York, NY 10026 USA, which is also LIABILITY COMPANY. NAME: 345 State on 12/18/12. Office location: NY the principal business address. LENOX, LLC. Articles of Organization Barrow St., NY, NY 10017. Purpose: Management GP LLC, Auth. filed Any lawful activity. County. Princ. bus. addr.: 270 Lafayette Sec’y of State (SSNY) 5/4/12. Office Purpose: Any lawful act or activity. were filed with the Secretary of State St., Ste. 502, NY, NY 10012. LLC loc.: NY County. LLC org. in DE 5/3/12. of New York (SSNY) on 05/27/05. formed in DE on 12/11/12. NY Sec. of SSNY desig. as agent of LLC upon Notice of Formation of THE Office location: New York County. NOTICE OF FORMATION OF CITY State designated agent of LLC upon whom process against it may be ALCHEMICAL LLC. Arts. of Org. SSNY has been designated as agent PROPERTY OF MID UPPER WEST, whom process against it may be served. SSNY shall mail copy of proc. filed with Secy. of State of NY of the LLC upon whom process LLC. Arts of Org filed with Secy of served and shall mail process to: c/o to Att: Benjamin Truck, 237 Park Ave., (SSNY) on 12/20/12. Office location: against it may be served. SSNY shall State of NY (SSNY) on 8/30/12. Office CT Corporation System, 111 8th Ave., Ste. 900, NY, NY 10017. DE off. addr.: NY County. Princ. office of LLC: mail a copy of process to the LLC, c/o location: NY County. SSNY designated NY, NY 10011. DE addr. of LLC: The CSC, 2711 Centerville Rd., Wilmington, 137 W 14th St., NY, NY 10011. Rosalie J. Harris, 3647 Broadway, as agent upon whom process may Corporation Trust Co., 1209 Orange DE 19808. Cert. of Form. on file: SSNY designated as agent of LLC Apt. 1E, New York, New York 10031. be served and shall mail copy of St., Wilmington, DE 19801. Cert. of SSDE, Townsend Bldg., Dover, DE upon whom process against it may Purpose: For any lawful purpose. process against LLC to principal Form. filed with DE Sec. of State, 19901. Purp.: any lawful activities. be served. SSNY shall mail process business address: 336 E 86TH ST. NY, 401 Federal St., Dover, DE 19901. to the LLC at the addr. of its princ. Notice of Qualification of AUTONOMY NY 10028. Purpose: any lawful act. Purpose: all lawful purposes. Notice of Qualification of TOWN LINE office. Purpose: Any lawful activity. REAL ESTATE FUND III: SPAIN I, LLC. Authority filed with Secy of OPPORTUNITIES US LP. Authority Notice of Qualification of RELATED Notice of Qualification of TigerStar, State of NY (SSNY) on 11/6/2012. Notice of Qualification of CNG filed with Secy. of State of NY (SSNY) WILLETS, LLC. Authority filed with LLC. Authority filed with Secy. of Office Location: New York County. Investment LLC. App. for Auth. filed on 12/06/12. Office location: NY Secy. of State of NY (SSNY) on State of NY (SSNY) on 12/12/12. LLC formed in Delaware on 10/31/12. Secy. of State of NY (SSNY) on County. LP formed in Delaware (DE) 12/11/12. Office location: NY County. Office location: NY County. LLC SSNY designated as agent of LLC 11/27/12. Fictitious name in NY State: on 10/17/12. Princ. office of LP: 461 LLC formed in Delaware (DE) on formed in Delaware (DE) on 11/28/12. upon whom process against it may CNG Investment Holdings LLC. Off. Fifth Ave., 11th Fl., NY, NY 10017. 05/11/12. Princ. office of LLC: 60 Princ. office of LLC: c/o T Capital be served. SSNY shall mail process loc.: NY County. LLC formed in SSNY designated as agent of LP Columbus Circle, NY, NY 10023. Management, LLC, 725 Fifth Ave., 23rd to: c/o National Registered Agents, Delaware (DE) on 6/7/12. SSNY upon whom process against it may SSNY designated as agent of LLC Fl., NY, NY 10022. SSNY designated Inc., 111 Eighth Avenue, 13th floor, designated as agent of LLC upon whom be served. SSNY shall mail process upon whom process against it may as agent of LLC upon whom process New York, NY 10011. Address process against it may be served. to the Partnership at the princ. office be served. SSNY shall mail process against it may be served. SSNY shall required to be maintained in home SSNY shall mail process to: c/o of the LP. Name and addr. of each to c/o Corporation Service Co. mail process to c/o Corporation jurisdiction: c/o National Registered Moses & Singer LLP, 405 Lexington general partner are available from (CSC), 80 State St., Albany, NY Service Co., 80 State St,, Albany, NY Agents, Inc., 160 Greentree Drive, Ave., NY, NY 10174. DE address of SSNY. DE addr. of LP: 2711 12207. DE addr. of LLC: c/o CSC, 12207-2543. DE addr. of LLC: 2711 Suite 101, Dover, DE 19904. Arts of LLC: c/o National Registered Agents, Centerville Rd., Ste. 400, Wilmington, 2711 Centerville Rd., Ste. 400, Centerville Rd., Ste. 400, Wilmington, Org filed with Secretary of State, Inc., 160 Greentree Drive, Ste. 101, DE 19808. Arts. of Org. filed with Wilmington, DE 19808. Arts. of Org. DE 19808. Arts. of Org. filed with Corporate Division, 401 Federal St., Dover, DE 19904. Arts. of Org. filed Secy. of State of DE, Div. of Corps., filed with Secy. of State of DE, John Secy. of State of DE, Div. of Corps., Suite 4, John G. Townsend Bldg., DE Secy. of State, 401 Federal St., The John G. Townsend Bldg., PO G. Townsend Bldg., Federal and John G. Townsend Bldg., 401 Dover, DE 19901. Purpose: Ste. 4, Dover, DE 19901. Purpose: Box 898, Dover, DE 19903. Purpose: Duke of York Sts., Dover, DE 19901. Federal St. - Ste. 4, Dover, DE Management of Real Estate. any lawful activity. Any lawful activity. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity.

36 | Crain’s New York Business | January 14, 2013 vice president of global supply oper- new customers downtown since the ations. He added that it wasn’t just storm, not counting those that have Verizon repairs have silver lining the sophisticated electrical equip- added phone service to the compa- ment that has been hard to come by, ny’s other products, according to Continued from Page 1 ment should also help the company “it’s simple things, like bolts and Regional Vice President Bill Tyson. telecommunications giant condens- sell profitable new services, includ- screws and clamps.” “We’re still getting calls from peo- ing 20 years’ worth of material pur- ing FiOS, as fiber delivers greater ple who can no longer wait,” he said. chases and installations into a mat- bandwidth and faster downloads. Feeling pressure Verizon wouldn’t say when it ter of months. And the project has Verizon has also been feeling would complete its repairs. been fraught with headaches—from Not fast enough pressure from the public. In Decem- There are risks to getting rid of landlords unwilling to open their “We’ve turned a challenge into an ber, Mr. Bloomberg scolded the copper lines: They’re the only ones buildings to complaints from May- opportunity,”said Christopher Lev- company for saying the repairs that carry phone service in a black- or Michael Bloomberg and local endos, executive director of national would take until May,and some cus- out, because they have their own merchants about slow repairs. operations at Verizon,as he led a tour tomers have moved on.“I might have electrical supply. Mr. Levendos said The interruption in service has downtown.“It makes no sense to put waited if they could have given me a fiber systems have battery backup also opened the door to Verizon back yesterday’s service.” date” when phone service would re- power. In any case, the restoration competitor Time Warner Cable Verizon has estimated Sandy’s turn,said Joe Deng,telecommunica- should leave Verizon more compet- Business Class, which has claimed cost to the company at $1 billion. tions manager for the City College itive in the business-services arena.

some customers who couldn’t wait Coordinating Verizon’s repairs matthew flamm of New York, which has a satellite “Verizon’s competitors are out there for their phones to come back. with those of building owners and HOLE LOTTA MONEY: Verizon is spending big campus at 25 Broadway.Within two offering fiber,”said Aaron Blazar,an In the end, however, Verizon— individual businesses has been only to replace underground copper with fiber. weeks of Sandy,he switched eight of analyst with telecom research firm which posted $1.59 billion in profits part of the difficulty. The biggest the office’s 15 phone lines to Time Atlantic-ACM. in the third quarter, from revenue of challenge, according to Mr. Leven- Warner Cable Business Class, and Verizon’s stock price, which $29 billion—will have a fully mod- dos, is the amount of new equip- down to the Battery and up to will soon convert the rest. dipped in November but remains up ernized infrastructure downtown ment that’s required for an opera- Maiden Lane. Verizon offered cellphones with 13% from a year ago,could also ben- that could make it more competitive tion of this scale. And the transformers, routers free voice and data service, but Mr. efit. “The cost savings could be sig- and profitable. Ironically, the com- While the attacks of Sept. 11, and switches and other equipment Deng said reception in the building nificant, and will likely lead to mul- pany will have Sandy to thank. 2001, severely damaged Verizon’s needed for the conversion weren’t was spotty,and he didn’t want to rely tiyear earnings lift,” wrote Jefferies The storm’s destruction sped up West Street central office, Sandy’s sitting on shelves in warehouses,but on wireless for so many phone lines. & Co. analyst Thomas Seitz in a Verizon’s conversion to fiber-optic pain was more widespread. Seawa- had to be manufactured on demand Time Warner Cable, which has note to investors last month. Ⅲ cable, which is made from glass, im- ter destroyed nearly all of the 500 and shipped from the factory. long played David to Verizon’s Go- mune to seawater and easier to re- copper cables that radiate out from “These are numbers our suppli- liath in the battle for business cus- LISTEN to a discussion at CrainsNewYork.com/podcasts pair than copper lines. The invest- the Broad Street office and reach ers haven’t seen,” said Jim Gowen, tomers, has gained more than 100

$140 million from the Bank some of the cash and has plans to in- beit not very successfully—and one of Tokyo-Mitsubishi Trust Co. vest in other restaurateurs via a new that other deep-pocketed restaura- Fast-food king Saddled with debt,the company was venture capital arm called Riese teurs such as Jeffrey Chodorow have forced to shrink its portfolio. Today, Capital.In December,the Riese Or- utilized, cultivating talent by taking Continued from Page 3 started their empire by purchasing a it operates some 75 restaurants,gen- ganization bought a building at 211 an equity stake in their businesses. owns. luncheonette in Manhattan and sell- erating $100 million in revenue, W. 34th St., where it plans to open In the mid-1990s, the Riese Orga- “It put a tremendous amount of ing it a few years later for a great which also includes rental income one of the brands it currently owns, nization invested in an upscale Ital- capital in our treasury. We have vir- profit.They continued their strategy from 25 buildings. After his father’s such as Tequilaville—a casual bar ian restaurant, Martini’s, which is tually no debt, and we are fiscally for decades, running 300 restaurants death in 1995,Dennis took the reins, and restaurant. Another option, Mr. now closed. It also partnered with healthier than we have ever been,” by 1989,mostly franchises like Beef- steering the company through its Riese said, is partnering with a celebrity chef David Burke in the said Mr. Riese. “We are a very steak Charlie’s, Brew Burger, Chock bankruptcy several years later. smaller restaurant group in Manhat- now-defunct Hawaiian Tropic wealthy restaurant company.” Full o’Nuts coffee shops and many “It’s been a little bit of a long tan to open an eatery in the building. Zone in Times Square. His plan is to use some of that quick-service eateries. They were Last month, the company also “I want to bring new brands into money to invest in other restaurant credited with developing the food- signed a franchising deal with a our stable,” said Mr. Riese. “We’ll businesses, bringing them into the court concept, clustering their fast- popular California-based restau- probably collaborate with notable fold and thus expanding the Riese food businesses closely together, ‘We are a rant, Fatburger, to bring the fast- restaurateurs, though I’m not a big Organization’s portfolio to include sometimes in the same space. And very wealthy casual brand to New York. believer in fine dining.” better-quality casual eateries and they owned much of the real estate Transforming the company’s more full-service restaurants. where they operated restaurants. restaurant New concepts reputation won’t happen overnight, It is a big shift for the company But Mr. Riese is pinning his considering that it owns some 60 and for Mr.Riese personally,said in- Ill-timed expansion company’ hopes for the company’s transforma- KFC, Pizza Hut, Nathan’s Famous, dustry experts. “They never had any pretentions tion on the future restaurants he’ll Roy Rogers and other franchises, “He’s been working with the about food,” said Vincent McCann, invest in.Riese Capital has begun an which account for about a third of wind in his face for so long,” said chief operating officer of the Riese advertising campaign in local media, the company’s revenues. Stephen Zagor, dean of culinary Organization from 1985 to 1992. soliciting proven entrepreneurs who “I’m not going to increase those business and industry studies at the Mr. McCann, a restaurant consult- need from $500,000 to as much as $5 holdings,” he said. “I like service Institute of Culinary Education. ant, said the brothers were smart op- haul,” he said. So when the oppor- million in capital to expand. The restaurants much more, and I want “He’s also had to live in the shadow erators who achieved $400 million in tunity arose to make a tidy sum on company has the unique ability to the chance to compete against of his father and uncle, who were sales at their peak. real estate, Mr. Riese seized it. “All offer real estate and operational ex- other restaurateurs.” Ⅲ hall-of-fame restaurateurs.” They ran into trouble in 1990, good things came from that sale,”he pertise in addition to cash. The late Murray and Irving during a recession, when they tried added. The venture-capital arm is an LISTEN to a discussion at Riese, two brothers from Harlem, to expand too quickly and borrowed He has already begun to deploy idea Mr. Riese has tried before—al- CrainsNewYork.com/podcasts

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES

Notice of Qual. of Taurasi Capital Notice of Formation of Limited Liability Notice of Qual. of Two Sigma Active Notice of Qual. of Truck Capital Notice of Qual. of Two Sigma Active Onshore Fund LP, Auth. filed Sec’y of Company (LLC) Name: 797 MADISON Extension U.S. All Cap Equity Partners LP, Auth. filed Sec’y of State Extension U.S. All Cap Equity Master State (SSNY) 4/2/12. Office loc.: NY REALTY, LLC. Articles of Organization Portfolio, LLC, Auth. filed Sec’y of (SSNY) 5/4/12. Office loc.: NY County. Fund, LLC, Auth. filed Sec’y of State County. LP org. in DE 3/30/12. SSNY filed by the Department of State of State (SSNY) 6/5/12. Office loc.: NY LP org. in DE 5/3/12. SSNY desig. as (SSNY) 6/5/12. Office loc.: NY desig. as agent of LP upon whom New York on: 11/09/2012. Office County. LLC org. in DE 6/4/12. SSNY agent of LP upon whom process County. LLC org. in DE 6/4/12. SSNY process against it may be served. location: County of New York. Purpose: desig. as agent of LLC upon whom against it may be served. SSNY shall desig. as agent of LLC upon whom SSNY shall mail copy of proc. to Att: any and all lawful activities. Secretary process against it may be served. mail copy of proc. to Att: Benjamin process against it may be served. Mark Melchiorre, 711 Fifth Ave., Ste. of State of New York (SSNY) designated SSNY shall mail copy of proc. to Att: Truck, 237 Park Ave., Ste. 900, NY, SSNY shall mail copy of proc. to Att: 401, NY, NY 10022. DE off. addr.: CSC, as agent of LLC upon whom process Matthew Siano, 379 W. Broadway, NY 10017. DE off. addr.: CSC, 2711 Matthew Siano, 379 W. Broadway, 2711 Centerville Rd., Wilmington, DE against it may be served. SSNY NY, NY 10012. DE off. addr.: CSC, Centerville Rd., Wilmington, DE NY, NY 10012. DE off. addr.: CSC, 19808. Cert. of LP on file: SSDE, shall mail a copy of process to: c/o 2711 Centerville Rd., Wilmington, DE 19808. Cert. of LP on file: SSDE, 2711 Centerville Rd., Wilmington, DE Townsend Bldg., Dover, DE 19901. Maniatis & Dimopoulos P.C., 700 19808. Cert. of Form. on file: SSDE, Townsend Bldg., Dover, DE 19901. 19808. Cert. of Form. on file: SSDE, Name/addr. of each gen. ptr. avail. at White Plains Road, Suite 338, Townsend Bldg., Dover, DE 19901. Name/addr. of each gen. ptr. avail. at Townsend Bldg., Dover, DE 19901. SSNY. Purp.: any lawful activities. Scarsdale, NY 10583. Purp.: any lawful activities. SSNY. Purp.: any lawful activities. Purp.: any lawful activities.

January 14, 2013 | Crain’s New York Business | 37 process. Many of the state’s 10 largest lobbying firms have been re- Cuomo’s casino flip tained by one casino operator or an- other—with some trying to land Continued from Page 1 Those details are crucial to some business and others perhaps trying “It was kind of a 180,” said state upstate members of the Senate Re- to trip up competitors. Sen. John Bonacic, a Hudson Valley publican conference, who fret that The high-profile players include legislator who chairs his chamber’s existing racinos in their districts Genting, the Malaysian giant that Racing, Gaming and Wagering would lose customers to new casi- operates the highly successful Committee. nos. Operators of the nine racinos— Aqueduct racino in southeast Mr. Bonacic, who wants at least which feature armless slot machines Queens. The company has retained

two casinos in his Hudson Valley and lack human dealers—are hoping public-affairs firm SKDKnicker- buck ennis district, was pleasantly surprised by the state will simply turn seven of bocker, led in part by a former top Mr. Cuomo’s announcement. But them into full-fledged casinos. campaign aide to the governor and many city-based lawmakers and “I can’t imagine any legislator longtime associate, Jennifer Cun- lobbyists sat in shock. voting for the amendment when ningham. Genting has also hired Meantime, in They won’t be still for long,how- they don’t know where the casinos top Albany lobbyist Patricia Lynch, ever.As a murky process to fulfill the are going,” said Gary Greenberg, an a onetime senior aide to Mr. Silver, governor’s vision for expanded gam- owner of the Vernon Downs racino. and well-known lobbyists John bling plays out in 2013, big-money “Lawmakers are very supportive of Cordo and Brian Meara. Javitsville ... interests will be vying to get a piece their own racinos.” One hope for the company is that of the action—or to keep any new Mr. Cuomo’s spokesman said the Mr. Silver has now been pacified by casinos far away from their own. Mr. Cuomo that a casino won’t be Center’s reprieve Related. Mr. Cuomo plans to initially built in Manhattan—allowing Mr. “We’ll be doing a smaller five-star build three “destination” resorts up- Cuomo a stronger bargaining posi- spells opportunity hotel with a couple hundred rooms at state that would drive tourism to tion to push for one in Queens. for area landlords the rail yards,” Mr. Cross said. “But economically depressed regions. Southeast Queens lawmakers also there have been plans for a much big- Before that can happen, a proposed argue that a casino is exactly what’s ger convention hotel,and that would constitutional amendment to legal- needed for economic relief in an area BY DANIEL GEIGER be great for the neighborhood.” ize casino gambling must pass the hit hard by Superstorm Sandy, an- Legislature for the second straight other priority for Mr. Cuomo. After Gov. Andrew Cuomo’s State Nixing a competitor year ahead of a statewide referen- of the State speech Wednesday, the Other area landowners may also dum in November. ‘Jobs right now’ Related Cos. can breathe a sigh of reap gains. Without six acres of Gaming experts say the plan “We not only have everything relief. prime land available for redevelop- makes sense for Mr. Cuomo, who built already and ready to go,but be- Nowhere did the governor revis- ment,the value of their holdings will will be able to extract more conces- cause of Sandy, we need the jobs it the plans he’d laid out last year to likely rise. A test of that new market sions from upstate casino bidders if right now,” said Assemblyman build a huge new convention center dynamic could come any time now. a New York City competitor is not Phillip Goldfeder, who represents and casino in Queens, and raze the Two adjacent sites on the corner of siphoning away customers. Howev- Far Rockaway. West Side’s Jacob K. Javits Conven- West 37th Street and 11th Avenue er, Mr. Cuomo has not completely Other gambling behemoths like tion Center and turn its six-acre are expected to be auctioned off in ruled out a casino in the city—he Wynn Resorts and Las Vegas Sands riverside site into a blockbuster the coming months by Lehman just does not want any of the initial Queens leaders are also in the mix. They specialize mixed-use development. Brothers and the Imperatore family. three built in the five boroughs.Four in the type of destination casinos With that plan tabled, at least “Those are prime pieces of land,” more could be established under the argue a casino is that Mr. Cuomo covets. Unlike for the foreseeable future, Related said Ryan Nelson, an executive at amendment, and a spokesman for Genting, they are not yet licensed in need not worry about the prospect Sherwood Equities, which owns the governor said the city could be a what they need New York and don’t have a foothold of millions of square feet of com- several development sites in the possible destination for them. or track record here. peting space just a block away from vicinity.“Those are the kind of sites Many lawmakers say the most in Sandy’s wake Wynn has retained Albany lob- its sprawling Hudson Yards proj- that could appeal to a developer that likely casino destination is the bying firm LJM Rad, whose princi- ect. Last month, work began on the doesn’t yet have a parcel on the far Catskills or other locales accessible pal lobbyist is Jerry Weiss, a deputy $15 billion, 13 million-square-foot West Side but wants to jump in.” by Metro-North or Amtrak. Mr. to former Gov. Mario Cuomo. Las development, which will rise over Also a winner is Mr. Steel, who Cuomo has already suggested ruling Vegas Sands’ efforts are being the rail yards west of Pennsylvania was named to head Javits last Febru- out a new casino in western New steered by Chris Lehane, a former Station. ary, when its days appeared num- York, where the Seneca Nation has timing of votes on a constitutional aide to Andrew Cuomo and Al With Javits here to stay, the con- bered. Far from a lame duck now, an exclusivity compact with the state. amendment and legislation contain- Gore. And MGM has signed top vention center’s own executives and Mr. Steel said he is exploring ways “A casino would have to be on the ing specifics had not been deter- lobbyist Suri Kasirer. area landlords are scrambling to for the convention center to “be a Hudson River, or a train you could mined. But the administration is of- Even operators that may not make the best of its new lease on life. better neighbor”to the development take to the Catskills,” said Assem- fering at least a few details of its plan. have much interest in New York are Among the ideas already being springing up around it, including blyman Gary Pretlow, chairman of According to Mr. Cuomo’s gearing up, including Las Vegas- floated is a partnership between the more partnerships like the one he is the chamber’s Racing and Wagering spokesman, a bill would pass the based Boyd Gaming, which owns convention center and Related’s rail discussing with Related. On top of Committee. Legislature this year to create re- the popular Borgata casino in At- yards project in which the two that,a $400 million renovation at the gions around the state that would lantic City and has hired New York would collaborate to host events. Javits Center has come in under Assembly speaker appeased compete for casinos. A gaming lobbying firm Malkin & Ross. “They have event space in their budget,leaving Mr.Steel tens of mil- Mr.Cuomo’s proposal is likely to commission would select the win- If the constitutional amendment plan, and it will be interesting for us lions of dollars of excess cash to pur- appeal to leaders in the Legislature. ning regions and casino operators gets lawmakers’approval by August, to see how we could work together sue further improvements. Assembly Speaker Sheldon Sil- through a competition, though Mr. it would then face another hurdle: to attract events,” said Alan Steel, Other groups, however, see a ver—who has the power to single- Cuomo has said he doubts those passage by a majority of voters Javits’ chief executive. missed opportunity in the gover- handedly block Mr. Cuomo’s selections could be made before a statewide in November. Voting That sounds good to Related. nor’s retreat from his proposed rede- plan—has consistently opposed November statewide referendum. would be heaviest in the city, where “There’s a lot of activity that will oc- velopment of the Javits site. having casinos in Manhattan. State A local community’s support for there is a mayoral race, and political cur at Javits that will have a spinoff “There are windows to do big Senate Republicans have proposed casino gambling would be a factor in observers speculate that Mr.Cuomo benefit,” said Jay Cross, the Related projects like this, and we probably using casino taxes for property-tax the commission’s selections,accord- calculated that passage would be executive who is overseeing the rail missed that window,” said Robert relief and funding underprivileged, ing to the Cuomo spokesman, but easier if initial plans did not include yards development.“A car manufac- Yaro,president of the Regional Plan rural schools—similar to Mr. Cuo- actual up-or-down referendums a casino in the five boroughs. Polls turer might create a special exhibit Association. mo’s plan. would not be held in those commu- show a somewhat narrow majority at our space to roll out their new The RPA had hoped to see the But rank-and-file legislators nities. of New Yorkers supporting full- model during the car show at Javits.” likely billions of dollars generated by from both chambers are concerned The Oneida Indian Nation, scale gambling in the state. the sale of the Javits site be used, that Mr.Cuomo will have them vote which operates a full-scale resort Even in November, the big- High Line rolls closer among other things, to help fund on a constitutional amendment al- casino in central New York,has pro- money gambling industry may not The Javits Center’s revival could the long-stalled conversion of the lowing full-scale casino gambling vided seed money to a new group know which side of the fight to bet also spur hotel development in the Farley Post Office into an extension without key details spelled out. A advocating for local communities to on because the exact locations of surrounding area, which is already of Pennsylvania Station and possi- number are already pushing for a si- have veto power over casino proj- casinos and their operators will like- seeing new buildings rise. What’s bly a mini-convention center. multaneous vote on a bill indicating ects. Casino operators in Connecti- ly be unknown. more, work began last year on the A spokesman for the governor exactly where the casinos will be sit- cut, Pennsylvania and Atlantic City, “Without all the specific sites be- third and final leg of the hugely pop- held out hope that a plan to do away ed, the percentage of winnings that N.J., also stand to lose business to ing known,” said one operative ular High Line Park, which will ex- with Javits, long maligned as too casinos must pay in tax, and where New York competitors and could working for a gambling interest, “I tend it all the way to West 34th Street. small and obsolete, may yet be res- that revenue would go. seek to stymie the governor’s plan. could easily see opponents of a ref- One possible hotel site is a state- urrected. Few experts knowledge- Meanwhile, an army of lobbyists erendum running an ad saying there owned parcel across 11th Avenue able on the governor’s agenda ex- LISTEN to a discussion at is ready to guide local and out-of- was a secret plan to put a casino in from the Javits. Among those open pected a reboot anytime soon, CrainsNewYork.com/podcasts state clients through the murky New York City.” Ⅲ to the notion of more hotel rooms is however. Ⅲ

38 | Crain’s New York Business | January 14, 2013 136madisonavenue.com

Timeless Prestige in the Heart of NoMad

Last Remaining Floor: Entire 11th s 18,364 RSF We would like to welcome the following new tenants: Meticulously restored art deco lobby

Elegant wrought-iron entrance and storefronts Sunshine Sachs & Associates New passenger elevators & infrastructure Thanks to Andy Peretz and Bill Levitsky of Fully-attended 24/7 access with card key security Cushman & Wakefield on their recent lease of 18,364 RSF on the 17th floor

Regus ANDREW H. ROOS | 212 716 3510 | [email protected] Thanks to Richard Rosenhaus of Rosenhaus MICHAEL T. COHEN | 212 716 3555 | [email protected] Real Estate on their recent lease of 36,728 RSF J. LEIA LIMA | 212 716 3757 | [email protected] on the 5th & 6th floors

HELLUVA TOWN INSIDE Source Breakfast Is play Russian Weight Watchers gains to Broadway? pounds, dollars PAGE 42 The critically acclaimed Out and About production of Vanya and Sonia and Masha and Spike, starring Restaurant Week is back Sigourney Weaver and David Hyde PAGE 43 Pierce, is slated to close on Jan. 20. But those who haven’t had a chance to see the comedy at Lincoln Center’s Mitzi E. Newhouse Theater may yet be able to buy a ticket. The arts organization is in preliminary negotiations with a group of commercial producers to bring the play to Broadway, a spokesman for the ON LOCATION: nonprofit Actor Damon Fields (center) with crew confirmed. members on the set He of a horror short. declined to name the group that had expressed interest in the Christopher Durang farce, which takes themes and characters from Chekhov. The last Lincoln Center show to move from the Newhouse to Broadway was the Tony-winning Other Desert Cities in 2011. It is unclear whether there will be any cast changes should Vanya move. —theresa agovino Flying with the JetZet

Travelers sick of shuffling through paper itineraries and confirmations just got a new option for organizing their plans. JetZet, aimed at business travelers, consolidates flight itineraries, hotel reservations, rental cars and driving directions into one running list. When traveling in groups, users can share the same set of JetZet plans. Users can also find people they know in their destination cities and make new connections through the site. “We really have the most advanced controls possible to share trips and itineraries,” said CEO Nick Farina (below, left). JetZet is currently available for Web browsers and iPads, but not mobile phones. Stairway to stardom Mr. Farina and co-founder Kiran Patel (below, right) started the company at the end of 2011 in Aspiring actors find that extra work is a good way Chicago and put up all the funding.They recently moved to a cooperative workspace in New to get a foot in the soundstage door York and are seeking outside financing.The site officially buck ennis launched at the beginning of the year and has already racked up EXTRA more than 5,000 users. BY STEPHEN KLEEGE To make money, the partners OPPORTUNITIES plan to roll out a subscription- brush with mortality pushed Joseph Borzotta to join a growing legion of based offering and will begin to background actors, or “extras,” in New York film and TV productions. ¶ “I sell travel services such as hotel rooms and car rentals. “We plan to had a hereditary heart-valve issue and had to get open-heart surgery,” said grow the company aggressively,” the 49-year-old painter and real estate investor, who is in good health five Mr. Farina said, adding that “it would be disappointing” not to years after the operation. “The things you daydream about doing, you have a 25 Number of prime-time have seven-figure revenue 16 little more urgency. I was always fascinated by actors. I thought it would be TV shows shot in NYC this months from now. really cool to have that experience.” ¶ The Rutherford, N.J., resident signed season —ali elkin up with NYCastings, a website that helps film and TV producers find talent, and soon found himself seated next to actor James Franco at a lunch counter on the set of Shadows & Lies, a 2010 release by Rabbit Bandini Productions. Next came “an amazing experience” as a Amember of a polka band on the live episode of NBC’s 30 Rock in 2010, in which he pretended to play a clarinet within 20 feet of Tina Fey,Tracy Morgan, Alec Baldwin, Matt Damon and Jon 188 Hamm. ¶ Background acting is luring an increasing number of laid-off office workers, retirees and Number of feature films movie fans who are willing to work often tedious sessions for $85 to $100 See ACTORS’ on Page 42 shot in NYC in 2011

January 14, 2013 | Crain’s New York Business | 41 SOURCE BREAKFAST: Actors’ stairway to stardom DAVID KIRCHHOFF by Emily Laermer Continued from Page 41 The boom in background work had set aside her aspirations to be an a day to experience TV or film pro- is part of a broader revival of the lo- actress in order to raise a family, has duction firsthand and—who cal film and entertainment indus- been at it ever since. knows?—follow the likes of Brad try,spurred by a 30% refundable tax Now 86 years old and in the Pitt, Kelly Clarkson and Ronald credit from New York state and the union, Ms. Gould works once or Weight Watchers Int’l Reagan in rising from “extra”to star. city’s Made in NY program, which twice a month and enjoys renewing Central Casting, the Los Angeles offers production companies dis- acquaintances with people she’s company that gave those celebrities counts on everything from script- met on other shoots. There’s also their start, has amassed a database copying services to lumber and the hope of being “bumped up” to a gains pounds, dollars of about 15,000 potential New hardware. The number of prime- speaking role, as happened in the York-area background actors since time TV shows shot in the city has Martin Scorsese-directed pilot for opening an office here in 2006. more than tripled since 2002, to 25 HBO’s Boardwalk Empire, which eating good food and you are manag- Other companies that list back- this season, not counting Orange Is films its Atlantic City scenes on a BY EMILY LAERMER ing your portion sizes.Losing weight ground actors include Grant Wil- the New Black, a show being pro- set in Greenpoint, Brooklyn. ends up being a nice side effect. Our fley Casting, Casting Networks duced for Netflix Inc. Film indus- In a funeral parlor scene, Ms. ith every new new program is geared around that. Inc., Breakdown Services Ltd., try spending surged 70%, to $7.1 Gould was called on to lean over year comes a Backstage magazine and Sylvia billion,in 2011,when a total of 188 the casket and say, “Look, he’s wave of people What do you think about the ban on big Fay/Lee Genick & Associates. features were shot in the city. here.” That earned her an on- resolving to drop sodas, set to take effect in March? The production industry, not screen credit—and residuals. a few pounds. I’m going to make the same point including background actors, em- “Every once in a while,” she said,“I WeightW Watchers International is Mayor Michael Bloomberg made: CASTING ployed 130,000 people in 94,000 get a check for a couple of dollars.” one of the companies that benefit There’s no soda ban. You cannot go full-time-equivalent jobs in most from holiday gluttony. into a movie theater in New York and SERVICES 2011, up from 78,000 full-time- A second career In December,the midtown-based get a 16-ounce Coke.They don’t come equivalent jobs in 2002, according Francis Brooke, a 24-year law- firm launched Weight Watchers 360, that small. And that’s a problem. NEW YORKERS WHO WANT TO BE to a study by the Boston Consult- enforcement officer who lives in a curriculum with new tools to help There’s been this arms race between IN PICTURES can promote ing Group. Despite a nationwide Pearl River,N.Y.,is “doing it for the members manage their food choices. consumers and dining establish- themselves through the industry decline, 30,000 industry experience,” while studying acting The company, which started in the ments, with consumers demanding following companies, which jobs have been created in New York at the New Jersey School for Dra- kitchen of a Queens woman’s apart- more value. Somebody had to step in. provide services to link City since 2004, the study found. matic Arts with an eye toward a ment, had $1.82 billion in revenue in production companies with After the first blush of excite- possible second career after he re- 2011, up 25.5% from the year before. Are there any areas that Mr. Bloomberg background actors, or extras. ment wears off, some background tires. He said he is already a per- It expects big gains for 2013 as it cel- still needs to tackle in his last year? These companies typically actors focus on qualifying for mem- former, as a trainer of police and ebrates its 50th anniversary, said Focusing on creating environments require a photo, bio and details bership in SAG-AFTRA, which SWAT teams and teacher for drug- President and Chief Executive David surrounded by healthy choices. You on measurements or clothing was formed by the 2012 merger of related programs in high schools. Kirchhoff, whose own weightwatch- can be more dictatorial in a work- size, in case a shoot requires the Screen Actors Guild and the His acting résumé includes back- ing helped him shed more than 40 place environment. Look at New costumes. Some assess American Federation of Television ground roles in television and film, pounds. He is also the au- York City government registration fees, while others and Radio Artists.Union members appearances in training videos and thor of Weight Loss Boss. WHERE buildings and offices— charge for additional services, can earn about $300 a day for extra a job modeling for a print ad for they are being strict about such as posting more photos. work, making it a useful bridge for Mercedes-Benz that paid $600. Are people who sign up for THEY what’s allowed to be in Once signed up, would-be professional actors between fea- While New York’s tax and dis- Weight Watchers in January DINED vending machines and actors can peruse lists of tured parts. count incentives have led to big- committed to the program? LEXINGTON cafeterias. It’s a place casting calls or receive e-mails “It’s an easy way to pay the bills,” budget shoots by networks and ma- I’m a sucker for January. BRASS where as an employer, the about the shoots for which they said Seregon O’Dassey, who is best jor production companies, one of From the period from 517 Lexington Ave. city has the right to dictate known as a “scream queen” for roles the fastest-growing categories of Thanksgiving to the holi- (212) 392-5976 the healthy environment. qualify. —STEPHEN KLEEGE www.emmgroup in such films as GhostWatcher II and work for extras is in independent days, everything is chal- inc.com/ It’s the same with schools. Backstage Teeth of Beasts.“The increase in pro- films, according to Aaron Seals, a lenging. It’s nonstop festiv- restaurants/ www.backstage.com duction here has definitely helped.” former talent agent who started ities. Everyone gets to the lexington-brass Which mayoral candidate best lines up with your mission? 770 Broadway One of the attractions, she said, NYCastings about 12 years ago. end of December feeling a AMBIENCE: Big, New York, NY 10003 is the long periods of inactivity on That growth is being driven by little gross and bloated. spacious, light I haven’t given it much (212) 493-4420 the set, which allow actors to get technology, as falling prices put When January starts, it is a WHAT THEY ATE: thought. My default is a No visits, mailings or drop-offs. paid while learning lines for other digital cameras and editing equip- new year. What’s wrong Ⅲ Steel-cut belief that whoever gets Contact Backstage by visiting projects, writing screenplays and ment in the reach of more film stu- with wanting to use that as oatmeal, bananas elected has to be someone www.backstage.com/contact-us/ even working on novels. On one dents and do-it-yourselfers. a kick-start? They stick and a side of fruit we can have a great part- extra job, she spent 12 hours on the The resulting influx of ama- around as long as somebody (three points) nership with. We have to Casting Networks Inc. Ⅲ set and was never called to perform. teurs has increased frustration for who signs up in October. Greek yogurt have a mindset that we will www.castingnetworks.com parfait with Background work helped Ms. actors like Damon Fields,who says We tend to see a lot more berries (two have a positive relationship 307 Seventh Ave. O’Dassey make the transition in he’s worked for some would-be people coming in January points) with whoever is mayor. New York, NY 10001 the early 2000s from local theater impresarios who paid in pizza, and because everyone has to get Ⅲ Coffee (no (323) 462-8200 to film and TV,including a featured then failed to deliver the video in gear. It’s less about the points) What were your thoughts role on the ABC soap opera One clips he’d hoped to add to his pro- resolution and more about TAB: when Jessica Simpson, your Central Casting $39.35, plus tip www.centralcasting.com Life to Live. motional reel. a need to get it together. spokeswoman, said she was “The market is oversaturated The wrong mindset on a New Year’s pregnant? 875 Sixth Ave., Suite 2411 Not in it for the money New York, NY 10001 with wannabes,” Mr. Fields said. “I resolution is that you’re going to diet Complete and total support.She had (646) 205-8244 Now the 31-year-old actress is don’t mind doing a few student hard-core for a certain period of time, lost 50 pounds and started her preg- hoping Knuckleheads, a “dramedy” films—it’s the best acting class you and then magical things will happen nancy at a healthy weight, which is a Grant Wilfley Casting Inc. starring Steven Bauer that she shot can have—but don’t be deceptive and you can go back to your old life huge health benefit to her and the www.gwcnyc.com in 2011, will help demonstrate her about it.” and just be thinner. unborn child. She can go into her 123 W. 18th St. range as an actress and lift her clos- Mr. Borzotta, who says he was second pregnancy with better health New York, NY 10011 er to stardom. Meanwhile, when lucky to get the amount of screen What makes joining Weight Watchers than she would have. (212) 685-3537 she isn’t filming, auditioning for time he did in his first two shoots, more than a fad? parts, rehearsing for plays or now does background work infre- The hard-fought lesson is that when Will you be replacing her? NYCastings demonstrating products at conven- quently, limiting himself to parts you are making a lifestyle change, No. She’s still our partner. Just like www.nycastings.com tions, she signs up for extra work. where he has a chance of being seen. that means you have to live a differ- Jessica didn’t replace Jennifer Hud- 243 W. 30th St. For many extras, union or oth- One of his latest roles is in Price ent way now. It’s the opposite of the son. I wouldn’t rule out the possibil- New York, NY 10001 erwise, money isn’t the main moti- Check,a movie starring Parker Posey. dieting mindset. [Participating in ity of new people, but that would be (212) 219-3339 vation. You can catch a glimpse of him in a Weight Watchers] means you are in addition. Ⅲ Sylvia Fay/Lee Genick & “The biggest thing that hooked corporate boardroom scene, sitting Associates Casting me is,when I saw the movie,they did next to actor Edward Herrmann. www.sylviafaycasting.com a close-up of me in the crowd,” said But some of the stardust has INSIDE TIP: Sit near a window to watch 420 West End Ave. Jeannette Gould, recalling the first worn off. “The pay is terrible, and New York, NY 10024 of many experiences in The World they’re tediously long days,” he svelte New Yorkers dashing to Grand (212) 889-2626 According to Garp, a 1982 film with said, adding that he might work Robin Williams, John Lithgow and more often if he can qualify for Central. Swoosie Kurtz. Ms. Gould, who membership in the union. Ⅲ

42 | Crain’s New York Business | January 14, 2013 OUT AND SNAPS Loews Regency power breakfast kicks off in new space ABOUT by Emily Laermer and Miriam Kreinin Souccar

CULTURE FIX CAREER BUILDERS WEDNESDAY, WEDNESDAY, JANUARY 16 JANUARY 16 Discuss the data science revolution at Take a step into the the ADVERTISING + DATA SCIENCE early 1900s at A CONGRESS. The half-day symposium NIGHT AT THE will explore how the prevalence of big OPERETTA,a data is changing advertising and society. collaboration Speakers include Vasant Dhar, professor between Juilliard’s and head of the information sciences Marcus Institute for group at New York University, and Vocal Arts and the Vikram Somaya, general manager at

New York Festival of Song.The show is WeatherFX.The event starts at noon at kim rob at 8 p.m. at Alice Tully Hall, 1941 the NYU Stern School of Business, 44 ANDREW TISCH, RAY KELLY and JON TISCH schmooze at a power breakfast kickoff Broadway, at West 66th Street.The W. Fourth St., at Washington Square event at the Park Avenue Winter on Jan. 9. The Loews Regency owners are hoping its performance is free, but tickets need to be East. For more information, visit VIP breakfast clientele will congregate at the nearby restaurant while their hotel Sen. CHARLES SCHUMER and KATHRYN WYLDE at the patrickmcmullan.com picked up at the Janet and Leonard www.m6d.com/datasciencerevolution. undergoes a yearlong renovation. Park Avenue Winter breakfast event. Kramer Box Office at Juilliard, 155 W. 65th St. For more information, call (212) WEDNESDAY, JANUARY 16, 769-7406 or visit www.juilliard.edu. TO FRIDAY, JANUARY 18 Join Womensphere, a multidisciplinary SATURDAY, JANUARY 19 group of women leaders, at the FOURTH Knock back a few drinks at one of Al ANNUAL EMERGING LEADERS GLOBAL Capone’s old Prohibition stomping SUMMIT. Speakers will include Musimbi grounds at EAST VILLE DES FOLIES: BEER & Kanyoro, chief executive of the Global WHISKEY FESTIVAL. Attendees can sample Fund for Women; Shirley Tilghman, four floors’ worth of rare whiskeys and Princeton University president; and beers from around the world.The event Marie Wilson, founder and president also features a spinning prize wheel, emerita of the White House Project and trapeze and circus acts, burlesque dancers the Ms. Foundation. Attendees will also and swing-jazz bands. It starts at 2:30 have the opportunity to attend a career p.m. at Webster Hall, 125 E. 11th St., fair, learn from mentors and attend panel between Third and Fourth avenues. discussions. Tickets start at $1,000. The General admission tickets are $35. VIP summit will be held at Columbia tickets, which permit access at 1:30 p.m., University and various locations are $45. For more information or to throughout the city. For more purchase tickets, visit www.websterhall information, including a schedule of

.com/eastvilledesfolies. events, visit www.womensphere.org. getty images

getty images STEFANO TONCHI and ALINA CHOO at the MICHAEL GOULD, MATILDA CUOMO, TONY SPRING and ANNE KEATING pose on Jan. 9 at 2013 YMA Fashion Scholarship Fund’s Geoffrey DON’T MISS RESTAURANT WEEK an event at Bloomingdale’s to celebrate National Mentoring Month. Beene Awards dinner on Jan. 8. STARTING MONDAY, JANUARY 14 Enjoy a taste of some of Manhattan’s trendiest See more of this week’s Snaps online at CrainsNewYork.com/galleries. restaurants during NEW YORK RESTAURANT WEEK. Participating eateries will serve three- course lunches for $25 and three-course dinners for $38. Hundreds of restaurants will take part in the biannual event, which runs through Feb. 8, including Nobu New York, Mercer Kitchen and Locanda Verde. For more information or to make a reservation, visit www.nycgo.com/restaurantweek.

FUNDRAISERS THURSDAY, JANUARY 17 Help raise money for Brooklyn businesses that were affected by Superstorm Sandy at VAUDEVILLE NIGHT IN DUMBO. All proceeds will be donated to the Brooklyn Recovery Fund. It is at 7 p.m. at Think Conservatory, 65 Jay St., between Water and Front streets, in Brooklyn. OPENING Tickets, which start at $75, include two drinks FRIDAY, JANUARY 18 and hors d’oeuvres, and 1920s attire is See how other cities honor one of encouraged. For more information, email the great figures of American [email protected]. history at the New-York Historical Society’s THE DREAM SATURDAY, JANUARY 19 CONTINUES: PHOTOGRAPHS OF Enjoy cocktails and support local nonprofit the MARTIN LUTHER KING MURALS BY Mary Kay Foundation at LEGACY OF LOVE.The VERGARA through May 5. Camilo group aims to provide resources that promote a José Vergara has traveled across greater understanding of the issue of violence the country since the 1970s, against women.Tickets cost $40 per person or documenting the murals in car- $70 for couples in advance, and $60 per person repair shops, barbershops and at the door.The event is at 7 p.m. at Vermilion, fast-food restaurants. The 480 Lexington Ave., between East 46th and museum is at 170 Central Park East 47th streets. For more information, call West. For more information, visit (303) 390-2873, email [email protected] or www.nyhistory.org. visit www.glamorality.org. MARK YOUR CALENDAR… MONDAY, FEBRUARY 11 A TONY AWARD-WINNING MUSICAL will return for one night only for IN THE HEIGHTS: IN CONCERT. The event marks the fifth anniversary of the show’s Broadway opening, and will be the first time members of the original cast will return to the stage together. The performance is at 8 p.m. at the United Palace of Cultural Arts, 4140 Broadway at West 175th St., in the uptown neighborhood that inspired the show. Tickets start at $45, and are available at www.telecharge.com. For more information, visit www.linmanuel.com.

January 14, 2013 | Crain’s New York Business | 43 emirates.com/usa

Meet the world at 40,000 feet Some of the most memorable moments on Earth aren’t happening on Earth. Find inspiration in exclusive lounges, refresh in Shower Spas and find sanctuary in your Private Suite. Hello to the Emirates A380, now departing twice daily from JFK.

Hello Tomorrow

Shower Spas and Private Suites available in First Class. Onboard Lounge available in First and Business Class. Over 500 international awards and over 125 destinations worldwide. Discover frequent flyer benefits at skywards.com