SPEED BUMP in LOWER MANHATTAN Downtown Grows, Services Don’T CRAIN’S® PAGE 4 NEW YORK BUSINESS

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SPEED BUMP IN LOWER MANHATTAN Downtown grows, services don’t CRAIN’S® PAGE 4 NEW YORK BUSINESS

VOL. XXXI, NO. 13 WWW.CRAINSNEWYORK.COM MARCH 30-APRIL 5, 2015 PRICE: $3.00 HUMANS OF NEW YORK BUSINESS Photographer Brandon Stanton, who turned a personal passion into an international media brand, leads this year’s class of rising stars PAGE 11 13

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EXECUTIVE EDITOR’S NOTE

FYICRAINSNEWYORK.COM Karma kids

There’s a Buddhist saying: If you E.Village explosion want to know your past, look at the present; if you want to know underscores city’s your future, again, look at the infrastructure woes present. The maxim explains the concept of karma, which, in the n the aftermath of a probable Tibetan translation, is a gas explosion that caused a fire Jeremy Smerd combination of the words “work” Iand the collapse of three and “seed.” The idea? Like a seed, buildings in the East Village each of us contains genetic Thursday—a year after a deadly information that reflects our past and determines Bill de ap images blast in Harlem—Mayor our potential. But what we do with that potential is Blasio spoke about the need to take up to each of us. Which brings us to this year’s 40 a hard look at the aging pipes and wires beneath the city streets. ¶ “This is a very important Under 40. Crain’s launched the franchise in 1987 to moment in terms of assessing our situation, in terms of our buildings and infrastructure,” the attract young readers. But seen over time, 40 Under mayor said at a press conference near 121 Second Ave., where an explosion kicked off a seven- 40 is a longitudinal study of the city’s ever-changing alarm blaze that eventually engulfed the buildings around it. ¶ Repairs won’t come cheap. It could economy.The rise of tech startups has dressed cost up to $26 billion just to replace all the leak-prone gas mains in New York City, according to a down business attire: less hair, fewer ties, zero report released by a nonprofit last year. And when combined with the cost of bringing the rest of shoulder pads. The industries and firms our 40s the Big Apple’s infrastructure up to snuff, the price tag could rise as high as $73 billion—an represent have also changed: fewer execs from big amount just shy of Mr. de Blasio’s entire proposed budget for next year. ¶ Last March, the Center corporations, more entrepreneurs angling for for an Urban Future released a report estimating that it would cost $47.3 billion to bring the city’s venture-capital dollars. But 40s remain disruptors. core public infrastructure up to a state of good repair. But that number did not include gas mains, In 1988, that meant Paul Tudor Jones storming the which are replaced and maintained by Consolidated Edison or National Grid, both heavily gates of Wall Street. This year it’s Jon Stein, whose regulated private companies. ¶ Approximately 6,300 miles of gas mains run under the city’s firm, Betterment, is upending investment streets. About half of them are made from cast iron or unprotected steel, both of which have the management. Brian Williams, Class of ’98, defined potential to crack and leak.The center estimated that it costs between $2.2 million and $8 million the voice-of-God anchorman (and turned out to be per mile to replace a gas main, meaning that the tab could run between $7.2 billion and $26.4 less than perfect). In 2015, Humans of New York billion. ¶ Con Ed and National Grid have pledged to replace more than 50 miles of leak-prone creator Brandon Stanton represents one-man gas mains annually for the next few years, though officials may call for that number to be bumped media brands. Of course, the individuals we up in the wake of both the East Village blaze last week and the deadly 2014 Harlem explosion. celebrate have benefited from those who came —joe anuta before. So when we fete our 40s, as we do every year, we’ll ask them to bring their mentors. Tricia POWERFUL WOMAN DEPARTS WALL ST. cus on its management of the land it the heels of another fare hike. Clarke-Stone, CEO of marketing firm Narrative, Ruth Porat, the CFO of Morgan owns beneath the Chrysler Building. Stanley and one of CITY OFFICIAL STEPS DOWN has already invited Russell Simmons, who launched Crain’s Most Pow- ‘I ate a corned CHERRY ON TOP Kyle Kimball, the head of the city’s the business with her. Mr. Simmons was a 40 in erful Women in Dell’s Maraschino Economic Development Corp. since 1992. Like I said, if you want to know the past of New York, will be- beef at Katz’s, Cherries, the Red 2013 and a Bloomberg administra- New York business, look at this year’s 40s. And if come Google’s new Hook, Brooklyn, tion appointee,will step down in June. finance head. She New York’s business that turned you want to know the future, well, look again. joins the ranks of greatest, out to be a cover-up BLUE PINSTRIPES WIN other financiers for a massive mari- Worth $3.2 billion, the New York joining tech firms, greasiest juana-growing oper- Yankees are the nation’s most valu- THIS WEEK IN CRAIN’S including Gold- pickle-lined ation, had received able baseball team, according to man Sachs’Antho- almost $2 million in Forbes. The franchise is tied with the IN THE BOROUGHS------4 ny Noto, who was subsidies and federal NFL’s Dallas Cowboys as the nation’s melting pot’ IN THE MARKETS------5 appointed CFO of —Afghan President Ashraf disaster aid, includ- most valuable sports team. Twitter last year. Ghani, about his recent trip ing $900,000 after —emily laermer THE INSIDER ------6 Superstorm Sandy. to the Big Apple OPINION------8 FOOD GIANTS SNUB The city could claw BANKS back the money if it’s ALAIR TOWNSEND------9 Billionaire Warren Buffett left found to have been improperly used. GREG DAVID ------9 JPMorgan Chase and Goldman Sachs out of the largest M&A deal of CABLE DEAL STALLED, AGAIN HEALTH CARE ------10 the year: the $36 billion merger of The $45 billion merger between SMALL BUSINESS 40 UNDER 40 ------11 Kraft Foods and Heinz,backed by 3G Comcast and Time Warner Cable Capital. The transaction creates one won’t close until mid-2015, several Paul Schrader and Jeremy CLASSIFIEDS ------36 Lyman’s Birch Coffee is of the world’s largest food and bever- months later than originally antici- REAL ESTATE------40 age conglomerates. The banks have pated.The primary cause: regulatory thriving by catering to Silicon P. 7 SNAPS------worked on deals for each company in delays, including the Federal Com- Alley techies. 42 the past, but this time around Lazard munications Commission’s pausing UNHEALTHY BOROUGH (SEE PAGE 38) advised Mr. Buffett’s Heinz, while its “shot clock” for completing its re- For the sixth straight year, the CORRECTIONS Centerview Partners advised Kraft. view of the deal. Bronx remains the least- healthy county in New York vol. xxxi, no. 13, march 30, 2015—Crain’s New York Business (issn 8756-789x) is published weekly, except for double issues the weeks of June 29, July 13, July 27, Aug. 10, COOPER UNION PROBE COMMUTERS CREATE DELAYS state, according to a recent re- Aug. 24 and Dec. 21, by Crain Communications Inc., 685 Third Ave., New York, NY New York state Attorney General Eric More than 2,300 subway train delays port that measured quality of 10017. Periodicals postage paid at New York, N.Y., and additional mailing offices. Post- master: Send address changes to: Crain’s New York Business, Circulation Department, 1155 Schneiderman is reviewing the finan- were caused by unruly passengers in life, clinical care and socioeco- Gratiot Avenue, Detroit, MI 48207-2912. cial decisions of Cooper Union to de- January, an 80% increase over the nomic factors. All other bor- for subscriber service: Call (877) 824-9379.Fax (313) 446-6777.$3.00 a copy,$99.95 one termine what led to the school’s move same month a year before.The 6 line oughs improved their rankings year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2015 by Crain Communications Inc. All rights reserved. to charge tuition last year for the first had the most delays, followed by the from a year ago. Periodicals with ride-along enclosed in version 2 only. time in its history. The probe will fo- 2, 5, E and R. The report comes on

March 30, 2015 | Crain’s New York Business | 3 20150330-NEWS--0004-NAT-CCI-CN_-- 3/27/2015 7:57 PM Page 1

IN THE BOROUGHS MANHATTAN Downtown grows, but services don’t Garbage pile-ups, shortage of parks, lack of schools irk nabe’s new residents

BY ADRIANNE PASQUARELLI

Though he lives in TriBeCa, just a few blocks from two ball fields in Battery Park City, Andrew Zelter often has to spend more than an TRASH TALK: City hour getting up to Randall’s Island Councilwoman Margaret Chin to watch his kids play Little League (below), a longtime lower baseball. Manhattan resident, said the Shared by 80 neighborhood neighborhood’s towers of garbage often exceed her own teams, with a total of well over 1,100 (4-foot-11) height: “You can’t children ages 5 to 17, the two down- pass—people literally have to town fields are booked solid months walk in the street.” in advance,forcing many residents to travel to the far corners of Manhat- tan and beyond in search of a place to An area play ball. With more families thronging to the once-commercial built for neighborhood every year, those trips are only getting longer. office “We now have the unfortunate situation of having to turn kids away workers because we don’t have space for them,” said Mr. Zelter, the Down- struggles town Little League president. He sees the shortage of sports facilities as amid a emblematic of a broader set of issues facing the neighborhood that he has residential called home for 13 years. “At this point,priority needs to be around ad- boom dressing the shortage of services and infrastructure [in the area] before we continue to move at the same pace of residential development.” Many others agree that down-

See DOWNTOWN on Page 38 buck ennis Viacom’s NY layoffs spotlight STATS AND THE CITY by Nicholas Wells DESIRED DIGITS: State regulators were alerted that phone numbers with the 646 area code will be exhausted by the end of 2017. New York City has six area traditional TV’s radical upheaval codes—two dedicated to Manhattan—but for many, 212 is the status symbol.

APPROXIMATE number of Companies struggle As cable and broadcast networks who are watching are increasingly 7.9M unique seven-digit phone head into the time of year when they tuning in via laptops or mobile de- numbers in each area code begin negotiations with advertisers vices.This is especially the case with to deal with same AGE, for next season’s investment, they younger viewers, who make up cov- in years, of NYC’s oldest area disruption that has code, 212. The youngest is 929, face what may be the most compet- eted audience demographics for 68added in 2011 hit other media itive and foreboding environment in Viacom’s biggest networks. The the history of the medium: Ratings problem, of course, is that making NUMBER of years it took to use up money from such viewers is proving 45all of the 212 area codes; it took BY MATTHEW FLAMM annoyingly difficult, as ratings giant only 20 years to exhaust 646—thanks ‘This is cable on Nielsen struggles to modernize its largely to cellphones MTV and Nickelodeon have each measurement system and count PORTION of NYC been in a double-digit ratings slump steroids,’ said those eyeballs in ways that networks households that use for months as their revenue and cul- can use to wring more dollars from 29.4%cellphones only, compared with 19.1% in tural cachet have languished.Those one exec about advertisers. the rest of the state problems help explain why parent Translation: Television may fi- company Viacom is cutting its New industry turmoil nally be facing the kind of disrup- ONE-TIME, first-month price to port a 212 phone York workforce by 264. tion that has upended music, radio $15Knumber ending in five zeros to an existing But as the Manhattan-based and newspapers in the past decade phone line via 212areacode.com company says goodbye to top exec- and a half. “There’s this whole swirl NUMBER utives and restructures its principal of different trends and forces hitting of New York City area codes, Sources: Crain’s research,research, NorthNorth AmericanAmerican divisions, some media observers are down industrywide, and mar- this industry that it has never had to 212 and 718, featured in Ludacris’ hit Numbering Plan Administration, 2song “Area Codes” The New York Times,, CentersCenters forfor DiseaseDisease think its troubles are far greater keters continue to shift dollars to deal with before,” said Jim Nail, an Control and Prevention, 212areacode.com than they appear. And not just for digital outlets like YouTube and analyst with research firm Gartner. ap images Viacom, but for the television in- Facebook. “We haven’t seen anything even close ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY dustry as a whole. In addition, even those viewers See VIACOM on Page 39

4 | Crain’s New York Business | March 30, 2015 20150330-NEWS--0005-NAT-CCI-CN_-- 3/27/2015 6:40 PM Page 1 IN THE Chalk up another controversy for have actually improved under Mr. at least two pieces: the slow-and- the lumbering giant of East 42nd Read, an accountant who took the steady generics business that will in- MARKETS Street, whose shares have been helm in December 2010, more than clude Hospira and its stable of prod- by Erik Ipsen among the most shorted recently for three decades after starting at the ucts; and a far-racier and more more reasons than investors can company as an auditor. His promo- innovative global unit, which would shake a catheter at. Pfizer’s per- tion came after the board ousted his include some of the company’s new formance has lagged many of its predecessor, Jeff Kindler, an outsider treatments and drug pipeline. In peers. In the past two years, while who had been general counsel at Mc- February, Mr. Read confirmed that the share price of the world’s sec- Donald’s. Brought in to shake things a decision on a possible split will ond-largest drugmaker has in- up at the company founded in come by late 2017. creased 20%, the S&P 500 Health Care Brooklyn in 1849, Mr. Kindler’s In the meantime, most analysts Index has risen 60%. moves rankled many insiders and expect Pfizer, with $50 billion in Ironically,Pfizer shares are doing sent its share price spiraling. cash on hand,to continue to look for well under the circumstances. The Mr.Read,not surprisingly, wast- acquisition targets.It is unlikely that company reported net income of just ed no time making changes when he any would be as big or controversial over $9 billion last year, on revenue took over as CEO. Two of his best- as Mr. Read’s bid last year to take of $49.6 billion. During a call with received moves—to audiences in- over British pharmaceutical giant analysts to discuss those results, ternal and external—were large cuts AstraZeneca.Not only was that trans- Pfizer’s chief executive, Ian Read (in- in research spending and a massive action ambitious in scope—weigh- set), noted that his company had stock buyback. Going forward, ing in at $110 billion—but under “met or exceeded every element of though, Pfizer’s operational pros- the terms of the so-called inversion our financial guidance for the year.” perity will hinge on its pipeline, i.e., deal Pfizer would have moved its bloomberg news True,but last year’s net income fell potential new blockbuster drugs. headquarters to London and bene- 19.8% shy of the previous year’s,while Prime candidates? Xeljanz, for the fited handsomely from the U.K.’s revenue was off 3.8%.These declines treatment of rheumatoid arthritis, lower corporate-tax rate.The trans- The Rx for Pfizer? are mostly the result of several of Pfiz- and Ibrance, for breast cancer. action fell apart after Astra- er’s best-selling pharmaceuticals los- But the ultimate Rx for Pfizer’s Zeneca’s board balked. So for the ing patent protection in recent years. share price could be a crowbar. Last near future, at least, the denizens of Among them: cholesterol drug Lipi- year, Mr. Read said that he would East 42nd Street can expect busi- Spend ... and split tor (down 6%), arthritis-pain- consider breaking the company into ness as usual. reducing Celebrex (down 31%) and Viagra (down 4%).The strong dollar hen Pfizer Inc. announced its plan to buy generic- USERS of the world’s top-10 Hospira also has taken a toll at the company, drug maker for $17 billion in February, for which 60% of revenue comes from messaging apps. The sector’s some observers yawned. Others sniped. “We overseas. (Currency translations 3B+ growth explains the plateau in W alone will likely drag anticipated sales traditional text messaging as well as Facebook’s believe the offer price … is significantly overvalued,” wrote plan to turn its Messenger service into a platform S&P Capital IQ analyst Jeffrey Loo, who noted that Hospira down by nearly $3 billion this year, says S&P’s Mr. Loo.) that can integrate with apps created by other was growing “in low single digits with much lower margins.” On the plus side,Pfizer’s numbers developers.

Call today (212) 220-8500

March 30, 2015 | Crain’s New York Business | 5 20150330-NEWS--0006-NAT-CCI-CN_-- 3/27/2015 3:05 PM Page 1 THE ing. Yet lawmakers haven’t budged, and regulators are starting to crack INSIDER down on illegal rentals. by Andrew J. Hawkins Airbnb, however, continues to do brisk business in New York City,listing more than 27,000 rooms and apartments on its site. Revenue to The Airbnb war: Big money, no victor Airbnb and its hosts from private, short-term rentals in New York City ast September, the city’s powerful hotel union joined grew tenfold between 2010 and affordable-housing advocates to push back against 2014, and was expected to exceed $282 million in 2014, according to Airbnb.Their group—Share Better—and the popular L bloomberg news Attorney General Eric Schneiderman. home-sharing service have since spent millions of dollars to Enforcement by the city has chipped influence political and public opinion. company in their New York battle, ods shorter than 30 days. away at the industry, but only a Both sides point to victories, but the broader outcome has pointing to Airbnb’s failure to change Airbnb has paid New York lob- handful of users have faced eviction. a 2010 state law prohibiting tenants bying firm Bolton-St. Johns $431,300 Meanwhile, New Yorkers who sup- been a stalemate—and not much harm to Airbnb’s bottom line. in properties with three or more units and sunk tens of millions of dollars port Airbnb outnumber those who Share Better argues it has whupped the San Francisco-based from renting out their space for peri- into public relations and advertis- want it banned, 56% vs. 36%, a Sep- tember Quinnipiac poll found. “Airbnb and home-sharing are here to stay,” said Nick Pappas, Airbnb’s local spokesman, “and it’s a matter of time before we fix this law.” Critics say they aren’t seeking to abolish home-sharing.They envision a much-diminished version of Airbnb, purged of illegal rentals. Rooms,not whole apartments,can be rented out under state law, as long as the regular occupant is home. Over the past four years, 72% of the units listed on Airbnb appeared to violate state law, Mr. Schneiderman said. Airbnb contends it has removed 2,000 New York users for poor service, but the ranks of critics are growing. The Real Estate Board of New York has penned two op-eds slamming Airbnb, and the Related Cos., one of New York’s largest owners of luxury properties,ordered a crackdown last fall on its tenants’ room-sharing. In February, a judge ordered the eviction of an Airbnb user for failing to comply with rent-stabilization laws. Airbnb and its opponents have even resorted to antiquated forms of public expression. Airbnb said “tens of thousands of New Yorkers and 4,000 small-business owners across New York City” have signed a peti- tion urging lawmakers to embrace the service,while Share Better got 30 legislators to sign a letter vowing not to alter the multiple-dwelling law. Airbnb’s failures here contrast with its successes in San Francisco and Portland, Ore., where it won legislation in late 2014 requiring users to register their apartments and pay hotel taxes—essentially le- galizing its business model. It was already legal in Chicago, Boston, Washington, D.C., and other cities. Airbnb has also hired Marathon Strategies, Hilltop Public Solutions and Risa Heller Communications. Media trackers estimate it spent $15 million on TV ads in the last half of 2014 and millions more on bill- boards and subway ads. Airbnb can afford it:Its latest fundraising round put its valuation above $20 billion. Airbnb is dangling $65 million in annual tax revenue, but lawmakers aren’t biting.“The flaw in that ar- gument is so gross,” said Council- woman Helen Rosenthal, “that I can’t even begin to go down that road.” Critics say Airbnb’s figures would be much lower if it were limited to legal listings. But others say New York is losing ground to cities that have embraced the sharing economy,like London. And Airbnb isn’t done spending. “We’re confi- dent New York won’t be left behind,” Mr. Pappas said.

6 | Crain’s New York Business | March 30, 2015 20150330-NEWS--0007-NAT-CCI-CN_-- 3/27/2015 2:56 PM Page 1

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VOL. XXX, NO. 13 WWW.CRAINSNEWYORK.COMRK.COM MARCH 31-APRIL 6,6, 20142014 venture-capital firms and other en- NEW YORK’S RISING STARSSTARS Premium high quality CRAIN’S® NEWThe YORK flavorfllalav BUSINESSavor n openingopenin night of VOL. XXX, NO. 13 WWW.CRAINSNEWYORK.COM MARCH 31-APRIL 6, 2014 Marc Glosserman’sG CRAIN’SCRAIN’S® NEWN EW YORK BUSINESSBUSIN ESS ® CRAIN’SVOL. XXX, NO. 13 WWW.CRAINSNEWYORK.COM MARCH 31-APRIL 6, 2014 NEW YORKffirstirst resrestaurant,t Hill BUSINESS of successuccccess NEWNEW YORK’S RISING STARS CCountryountry BarbecueThe flavorf n opening night of NEW YORK’S RISING STARS MarcMarc Glosserman’sGlosserman’s of success firstfirst restaurant, Hill VOL. 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Features custom plates with Pie Kitchen, which generated a combinedwasn’twasn $24’t hish millionis calling,calling, in Mr.sales GlossermanGl lastosserman year. was inspiredinspired to bringbring authenticauthentic LoneLone Seven years later, there are two more Hill Country Barbecue The Texas-style eateries have received effusiveStarStar praise State, cuisine including to Newthe York by his TexanTexan grandparents,grandparents, whom hehe designed to meet your trict, Union Square and Dumbo, Markets—in Brooklyn and in Washington, D.C.—as well as two Hill Market’s being named one of the top 10 visitedvbarbecueisited duringdurin jointsg vacations. in the country “I alwaysalways romanticized Texas,”Texas,” said Mr. Country Chicken restaurants and a mail-order business, Hill Country by The Wall Street Journal. It smokes all itsGlosserman,Gl meatosserman, in-house, whowho andgrew live upup musicin Bethesda,Bethesda, Md.Md. Pie Kitchen, which generated a combined $24 million in sales last year. is regularly scheduled. In 2004, he enrolled in Columbia University’s M.B.A.M.B.A. programprogram andand The Texas-style eateries have received effusive praise, including the A former telecom entrepreneur who soldwrotewrote his a company businessbusiness planplbecausean forfor hishitis firstfirst restaurant, whichwhich won a prestigiousprestigious Market’s being named one of the top 10 barbecue joints in the country wasn’t his calling, Mr. Glosserman was inspiredEugeneEugene to LangLan bringg grantg rantauthentic fromfrom thetLonehe university.university. by The Wall Street Journal. It smokes all its meat in-house, and live music Star State cuisine to New York by his Texan “grandparents,He is the next Danny whom Meyer he in the city,”,” sai saidd hhisis cchildhoodhildhood ffriendriend MicMichaelhael is regularly scheduled. section logo and recipients’ name and company. visited during vacations. “I always romanticizedLazerow, Texas,” cchiefhief saidmarmarketing kMr.eting oofficerfficer ooff SSalesforcealesforce MarMarketingketing ClCloud,oud,an andd anan A former telecom entrepreneur who sold his company because it hen Dario Wo- Glosserman, who grew up in Bethesda, Md.iinvestornvestor in aallll thethe restaurants. “I“I just doubledouble downdown on Marc becausebecause he’she’s specific marketing needs. restaurants catering to them have wasn’t his calling, Mr. Glosserman was inspired to bring authentic Lone In 2004, he enrolled in Columbia University’shhonestonest andan M.B.A.d hardworking.”hardwor programking.” and Star State cuisine to New York by his Texan grandparents, whom he wrote a business plan for his first restaurant, which won a prestigious —lisa—lisa fifickenscherckenscher MARC visited during vacations. “I always romanticized Texas,” said Mr. Eugene Lang grant from the university. Glosserman, who grew up in Bethesda, Md. “He is the next Danny Meyer in the city,” said his childhood friend Michael GLOSSERMANANN, 393 MARC GLOSSERMAN IS AN NYC TRANSPLANT,In 2004, he enrolled IS ON FACEBOOK, in Columbia University’s M.B.A. program and Lazerow, chief marketing officer of Salesforce Marketing Cloud, and an CEO, HILL COUNTRY GGRADUATEDRADUATED FROMFROM COCOLLEGE,LLEGE, HAHASwroteS AN a MBA,business HAHAS planS CCHILDREN,HIL forDREN, his first LIVES restaurant, IN which won a prestigious investor in all the restaurants. “I just double down on Marc because he’s HOSPITALITY THE CCITY,ITY, UUSESSES TWITTER, WEARWEARSEugeneS JEANJEANS SLang AND grant CCHUCKSHU CfromKS TTO Othe WWORK, university.ORK, IISS A Great for display in the office or as a gift. honest and hardworking.” KNIKNICKSCKS FAN,FAN, HAHASS AN IPHIPHONE,ONE, DDOESOES YYOGA,OGA, AND UUSESSES ININSTAGRAM.STAGRAM. “He is the next Danny Meyer in the city,” said his childhood friend Michael Can be used for client los opened Ta- followed. —lisa fickenscher MARC Lazerow, chief marketing officer of Salesforce Marketing Cloud, and an Reprinted withwith permission from thethe Crain'sCrain's NewNew York Business. © 20201414 Crain Communications Inc. AAllll RigRightshts reservereserved.d. FFurtherurther duplicationduplication withoutwithout permission is prohibited.prohibited. Visit www.crainsnewyork.com.www.crainsnewyork.com.investor #NB14010#NB14010 in all the restaurants. “I just double down on Marc because he’s GLOSSERMAN, 39 MARC GLOSSERMAN IS AN NYC TRANSPLANT, IS ON FACEBOOK, honest and hardworking.” CEO, HILL COUNTRY GRGRADUATEDRADDUATED FROM COLLEGE,COLLEGE, HAHASS AN MBAMBA,, HAHASS CCHILDREN,HILDREN, LIVELIVESS IINN —lisa fickenscher HOSPITALITY MARCTHETHE CITY,CIT USES TWITTERTWITTER,, WEARWEARSS JEANJEANSS AND CCHUCKSHUCKS TTOO WWORK,ORK, IISS A KNICKNICKSK CKS FAN, HAS AN IPHIPHONE,ONE, DOES YOGA, AND USUSESES INSTAGRAM. GLOSSERMAN, 39 MARC GLOSSERMAN IS AN NYC TRANSPLANT, IS ON FACEBOOK, CEO, HILL COUNTRY GRADUATED FROM COLLEGE, HAS AN MBA, HAS CHILDREN, LIVES IN Reprinted with permissionssion from the Crain'sCrain's New York BusiBusinessiness. © 2014 Crain Communications Inc. Inc All Rights reservedreserved. mailings, reception area combi at Café el Further duplication without permission is prohibited.ohibHOSPITALITYited. Visit www.crainsnewyork.com.www.crainsnewyork.com. #NB14010#NB14010 THE CITY, USES TWITTER, WEARS JEANS AND CHUCKS TO WORK, IS A KNICKS FAN, HAS AN IPHONE, DOES YOGA, AND USES INSTAGRAM.

Reprinted with permission from the Crain's New York Business. © 2014 Crain Communications Inc. All Rights reserved. Presidente, a A fit clientele Further duplication without permission is prohibited. Visit www.crainsnewyork.com. #NB14010 reading and for inclusion trendy restau- “There are a lot of lunch-heavy in press kits. Minimum rantW in the Flatiron district, he had places in tech-heavy areas,” said order of 100. a specific clientele in mind: techies Christopher Hickey, New York from the local startup scene. City regional director for the New Eprints To attract them for meetings at York State Restaurant Association. CRAIN’S® NEW YORK BUSINESS VOL. XXX, NO. 13 WWW.CRAINSNEWYORK.COM MARCH 31-APRIL 6, 2014 (Digital Reprints) the space—which bills itself as an “Restaurants are gravitating to The flavor NEW YORK’S RISING STARS n opening night of Marc Glosserman’s of success first restaurant, Hill Maximize your exposure Country Barbecue OMarket, his wife, Kristen, went into labor with their first child. “I “all-day, Mexico City-style café”— where the volume is.” took a deep breath, told my operating partner, ‘The show must go on— good luck,’ and went home,” said Mr. Glosserman. “It was a good omen for the restaurant. But also a metaphor for the crazy ride I’ve been on since I decided to open it.” Seven years later, there are two more Hill Country Barbecue and drive trafﬁc to your Markets—in Brooklyn and in Washington, D.C.—as well as two Hill Country Chicken restaurants and a mail-order business, Hill Country Pie Kitchen, which generated a combined $24 million in sales last year. he placed tables lower to the floor Certainly, these businesses aren’t The Texas-style eateries have received effusive praise, including the Market’s being named one of the top 10 barbecue joints in the country by The Wall Street Journal. It smokes all its meat in-house, and live music is regularly scheduled. A former telecom entrepreneur who sold his company because it website with Eprints. wasn’t his calling, Mr. Glosserman was inspired to bring authentic Lone Star State cuisine to New York by his Texan grandparents, whom he and positioned them to facilitate drawn only by the potential to feed visited during vacations. “I always romanticized Texas,” said Mr. Glosserman, who grew up in Bethesda, Md. In 2004, he enrolled in Columbia University’s M.B.A. program and socializing. tech customers. Cevich, a wrote a business plan for his first restaurant which won a prestigious Receive a PDF of your “It’s relaxed and casual, popular Union Square feature that can be used which is important for 21% hangout that serves items for web posting and/or tech people,” Mr. Wolos PORTION of New such as ceviche and fresh electronic distribution. said.“That’s how they op- York City firms tacos, chose its location in All Eprints are sold as that employ tech time-based licenses. erate.” About 25% of the professionals part because of the pre- lunch business at the spot, Source: LinkedIn, ponderance of gyms, ac- Other products include custom logo license, posters and postcards. which he opened last year, February 2015 cording to co-owner Lind- is now from the tech sec- say Goldstein. Crain’s New York Business is not afﬁliated with any other reprint or plaque vendor. Purchase directly through us to ensure the Crain’s New York tor. That helps him bring in more “We felt that people who work Business logo and your complete news coverage are featured on your reprint, plaque or other products. than $10 million in combined annu- out year-round are more likely to al revenue at his profitable, four- pay attention to what they eat,” said restaurant chain, which includes Ms. Goldstein, whose profitable For more information contact: Tacombi at Fonda Nolita on Eliza- business has 12 employees. Alicia Samuel, Reprint Account Executive beth Street;Tacombi at Gansevoort Some cafés have grown along [email protected] • tel 212.210.0750 Market; and Tacombi at La Brisa, See TECHIES on Page 38

March 30, 2015 | Crain’s New York Business | 7 20150330-NEWS--0008-NAT-CCI-CN_-- 3/27/2015 3:27 PM Page 1

OPINION CRAIN’S NEW YORK BUSINESS

Subsidize what matters Rance Crain editor in chief publisher, vp Jill R. Kaplan he government seems more willing to way, yes: The transit system dwarfs any one company in EDITORIAL subsidize a single business than the system importance. It is the primary reason that 88% of the state’s executive editor Jeremy Smerd assistant managing editors Barbara Benson, that serves all New York businesses. new jobs in the past 10 years were created in New York City, Erik Engquist Case in point: Digital-media company and why 56 million tourists came here last year. New Jersey, senior news producer Amanda Fung copy desk chief Steve Noveck BuzzFeed scored $4 million in tax credits the poster child of suburban sprawl, is subsidizing individual art director Carolyn McClain by letting the Cuomo administration businesses left and right, yet still hasn’t recovered the jobs it staff photographer Buck Ennis senior reporters Aaron Elstein, Matthew Flamm, know it was thinking of moving some lost in the recession. Daniel Geiger, Adrianne Pasquarelli workers across the river. Unfortunately, while MTA ridership is surging to record reporters Joe Anuta, Andrew J. Hawkins, Irina Ivanova, Jonathan LaMantia “While we would likely continue to maintain an office in levels, the system is beginning to buckle. More than a T data reporter Nicholas Wells NYC for employees who meet frequently with others in quarter of weekday subway trains in the past 12 months ran news producer Emily Laermer editorial intern Yoona Ha NYC ... the pricing differential between the real estate we late, which was 36% worse than the year before. Signal editor at large Glenn Coleman have seen in NYC and the real estate in New Jersey indicates problems, rail columnists Greg David, Steve Hindy, Alair Townsend conditions, train contributing editors Tom Acitelli, that relocating 200 of our current employees to a New Jersey Mass transit, not Theresa Agovino, Paul Bennett, Lisa Fickenscher, office may make sense,” BuzzFeed wrote in an email breakdowns and other Erik Ipsen, Elizabeth MacBride, Judith Messina, message turned up by a Capital New York open-records piecemeal tax problems are idling Elaine Pofeldt, Miriam Kreinin Souccar, Cara Trager ADVERTISING request. millions of people for credits, powers advertising director Joanna Harp New Jersey has always been cheaper, but that didn’t stop countless hours, all for sales manager Irene Bar-Am senior account managers BuzzFeed from putting those 200 employees in New York the economy lack of money to Jill Bottomley Kunkes, Rob Pierce City to begin with. Still, the Cuomo administration handed maintain a state of account managers Zita Doktor, Stuart Smilowitz good repair. City sales coordinator LeAnn Richardson the billion-dollar company $20,000 per worker. credit manager Jason Hogan (313-446-0353) But our politicians seem decidedly uneager to grant the government is also to CUSTOM CONTENT, EVENTS AND PRODUCTION Metropolitan Transportation Authority’s request for $15 blame: It gives the director of audience & content billion to fully fund its next five-year capital plan.That MTA just $100 million in capital funding each year, 72% less partnership development Michael O’Connor director of conferences & events seems like a lot of money, but for a system serving more than than it did in 1982 when adjusted for inflation. Courtney Williams 4 million riders on a given weekday, it’s $3,750 per user—a This is not rocket science. Make the transit system hum, events coordinator Adrienne Yee events coordinator & scheduler bargain compared with what BuzzFeed got just for musing and the economy will hum. Let it rot, and no amount of Alexis Sinclair about a move that most of its workers surely dreaded. money will keep the BuzzFeeds of the world from making a reprint account executive Alicia Samuel production and pre-press director Is it apples and oranges to compare the two subsidies? In a beeline right out of town. Simone Pryce media services manager Nicole Spell ONLINE AND INTERACTIVE SERVICES COMMENTS general manager Rosemary Maggiore 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 Behind construction’s racial divide 313-446-0450 (all other locations). $3.00 a copy for the print edition; or $99.95 one year, $179.95 two years, for print subscriptions with digital access. UNIONS FOSTER DIVERSITY health insurance is in fact a “stain” and passengers’ smartphones.The often travel to care for more than www.crainsnewyork.com/subscribe on the nonunion sector. All union rest of the current system is merely one client per day, and because “Blacks missing out on members receive middle-class outdated baggage that impedes these workers are not covered by TO ADVERTISE: construction jobs” (Greg David on wages and good benefits. progress and prevents the creation the federal Fair Labor Standards Contact Joanna Harp at [email protected] or call 212-210-0278. New York, CrainsNewYork.com) —gary labarbera of a level playing field in the for- Act (FLSA), they are not paid for www.crainsnewyork.com/advertise doesn’t tell the whole story. While President hire vehicle industry. travel time. For many, this means a 13% of construction workers in the Building and Construction Trades —george laszlo 10-hour day is compensated only FOR INFORMATION ON OUR EVENTS: city are black, among unionized Council of Greater New York Executive director for six or seven hours of labor. As a Contact Courtney Williams at workers it’s 21.3%, according to an Taxi & Limousine Research Center result, hardworking caregivers [email protected] or 212-210-0257. www.crainsnewyork.com/events Economic Policy Institute study. OPEN DOOR TO TAXI APPS may earn less than the minimum That is close to the 23.3% who are UNPAID WORK IN HOME CARE wage. TO CONTACT THE NEWSROOM: black in the overall workforce. Tweeps Phillips is right about the A new U.S. Department of 685 Third Ave., New York, NY 10017-4024 It’s in nonunion construction Taxi & Limousine Commission PHI appreciates the city Labor rule extends FLSA editorial phone: 212-210-0277 where blacks are severely making it nearly impossible for comptroller’s report (“Why New protections, including that fax 212-210-0799 Entire contents ©copyright 2015 Crain Communications Inc. underrepresented: 13.8%, yellow- or green-cab app York City employees work the workers be paid for travel time All rights reserved. ®CityBusiness is a registered trademark according to EPI. On top of this, a developers to comply with the rules longest hours,” CrainsNewYork during work hours, to this of MCP Inc., used under license agreement. Columbia University study on the (“Outnumbered by Uber, app-less .com), which rightly points out workforce.Though there is CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS Edward J. Malloy Construction taxis blame TLC,” CrainsNew the burden that long commutes widespread support for the rule, Skills pre-apprenticeship program York.com).They have a huge place on low-wage workers such trade groups are fighting it in chairman Keith E. Crain president Rance Crain reported that almost 90% of the hurdle when trying to integrate as home-care aides. According to court. New York has submitted an treasurer Mary Kay Crain enrolled youth are black, Hispanic with the TPEP system that gathers the comptroller, low-wage amicus brief in the rule’s favor. Cindi Crain or Asian, with 100% coming from trip data. Instead, they can simply workers earn 11% less than their Should it go forward, the state executive vp, operations William Morrow the five boroughs. join the black-car or luxury-car counterparts in other large cities must ensure adequate funding for executive vp, director of strategic We have made great strides to segment (as Uber and Gett have) as a result of time spent Medicaid-funded operations Chris Crain diversify the trades with initiatives and avoid all these headaches. commuting. home-care services to executive vp, director of corporate like our pre-apprenticeship If the TLC truly wants to help The report could have absorb the costs of operations K.C. Crain program, which is a strong the yellow- and green-taxi benefited from a closer extending basic labor senior vp, group publisher David Klein vp/production, manufacturing David Kamis indicator of the future makeup of segment and get the trip data to look at the incomes of protections to these chief financial officer Thomas Stevens the unionized construction regulate it, it should simply have hundreds of thousands of essential workers. chief information officer Anthony DiPonio industry. We do agree with Mr. the taxi meter transmit time and New York home-care —jodi sturgeon founder G.D. Crain Jr. (1885-1973) David, however, that the lack of distance information to drivers’ aides.These workers President, PHI chairman Mrs. G.D. Crain Jr. (1911-1996)

buck ennis secretary Merrilee Crain (1942-2012) CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 words or fewer to [email protected]. Please include the writer’s name, company, address and telephone number.

8 | Crain’s New York Business | March 30, 2015 20150330-NEWS--0009-NAT-CCI-CN_-- 3/26/2015 6:15 PM Page 1

could not shield the city from the fallout of the 9/11 attacks, which After 26 years, a final shook the city to its core. But his steady hand established a resilient tone. Though most New Yorkers Break Away... word on leadership were ready to see him go,he kept our depressive side largely at bay. The 12 years of Mayor Mike wrote my first column for Crain’s in 1989, as the paper’s Bloomberg set the city on a new and make your business better new publisher. Then-editor Greg David urged me to course, and its employment level surged to nearly 4 million in January draw on the knowledge I had gleaned as budget director 2014 from 3.5 million in January and deputy mayor for finance and economic develop- 2002.The mayor focused on support- ment under Ed Koch. I can still hear him tell me that a ing new technologies and his team re- column is not a term paper.The writer must have a point of view zoned much of the city, setting the I stage for revitalization in all five bor- that figures clearly in the piece, he said. oughs. Crime continued to fall. It And now,26 years and four mayors later,I am writing my last seemed like the city’s golden age. But job and population growth regular column.It’s time to move on. and the gentrification of many My tenure included the after- neighborhoods pushed up prices for math of three cataclysmic events for housing and offices, a fact seized New York:the stock-market crash of upon by Bill de Blasio. He has com- 1987, the 9/11 attacks and the eco- mitted to the production or preser- nomic meltdown starting in 2008. vation of 200,000 affordable apart- Industries served: The early 1990s were especially ments. He has also pushed Financial Services . Manufacturing & Distribution . Technology bad. The mood was bleak. Crime businesses to raise living standards 1RWIRU3URÀW . Retail . Construction . Architecture & Engineering seemed out of control. Every con- for working people—by enacting Real Estate . Healthcare . Transportation & Shipping versation devolved into speculation paid sick leave and seeking a higher Media, Entertainment & Telecommunications about the city’s future, which minimum wage. He is using all the seemed dim. People spoke freely levers of power that he can. about moving their companies and ALAIR TOWNSEND But I still remember the lessons of 488 Madison Avenue, New York, NY 10022 households out of the city.It seemed the late 1980s. Mayoral leadership is 50 Jericho Quadrangle, Jericho, NY 11753 10 Esquire Road, New City, NY 10956 that New Yorkers had a touch of the key.Despite its apparent strength,the www.grassicpas.com manic-depressive about them: cost him a second term as mayor. city’s momentum is fragile. It needs There was no limit on how high the Mayor Rudy Giuliani brought a nourishing, and can stop abruptly if city could go during boom times, or sense that someone was fully in taken for granted. I hope Mr. de Bla- how far it could decline in rough charge.Employment surged—from sio remembers that those creating the ones. David Dinkins’ perceived 3.2 million in January 1993 to 3.7 jobs need as much attention as those weak leadership during this time million in January 2001. Even Rudy who would work in them.

that the economy has recovered and soaring markets are reducing con- State budget: How tributions. Nevertheless, the budget contains a five-year extension of the to decode the deal IOU program. This puts New York on a slippery slope toward a New Jersey-style pension disaster—be- he official deadline in Albany for approval of a cause what will the legislature and state budget deal is April 1. (No fooling.) Here’s a executive branches do when the markets tank again? guide to evaluating the key fiscal, economic and ⅷ When will the minimum wage be in- business issues that will likely be decided by then, creased, where and by how much? Mr. and those that seem most likely to be put off for Cuomo has proposed hiking the another day. minimum wage to $10.50 statewide and $11.50 in the city, though it is Tⅷ How much will be spent? Gov.Andrew Cuomo’s fiscal cred- not clear on what kind of schedule. ibility derives from his success in restraining spending. Democrats want higher numbers, and any city minimum to be He wants to keep the overall increase matched in the adjacent suburbs. to about 2%, or $3 billion, while (Mayor Bill de Blasio’s proposal for boosting education more.The key is $15, or whatever, appears dead). the final number—and whether in- The details are crucial in working creases in schools and other areas out the economic and business come at the expense of basic needs. complications. ⅷ What happens to the windfall? ⅷ And then what? Following a Legislators and special-interest budget agreement,the spotlight will groups are itching to spend the $5 move to essential issues that have billion-plus the state has received been left for later. Start with the re- from financial-crisis settlements in newal of rent regulations and the as- the past year. Because these are one- sociated real estate tax breaks.Then APRIL 3 THROUGH APRIL 12 time revenues, they should be spent there’s the de Blasio affordable- on specific items like infrastructure GREG DAVID housing plan and the help it will MON-SAT 10AM-10PM SUN 10AM-7PM (the new Tappan Zee Bridge is the need from Albany. JAVITS CENTER | AUTOSHOWNY.COM prime example) or to pay down debt. Most important will be how to Using any part of the money to fund governments saw their required an- fill the $15 billion gap in the next operating expenses called recurring nual pension contributions rise capital plan for the Metropolitan Buy Tickets Online or At The Door Tickets are just $16, children $7 costs is bad policy because we don’t while tax revenues fell.The suppos- Transportation Authority and know what will pay for those pro- edly temporary solution: Allow the whether that will lead to a restruc- Save on discount rail and show packages with LIRR and Metro-North at mta.info grams in the following year. annual payments to be paid with turing of the many taxes, tolls and NY Waterway combo tickets also available at AutoShowNY.com ⅷ More pension IOUs? Ouch. IOUs and repaid over time with in- fees on which the agency relies. On RECORDED INFO: 800-282-3336 When the financial crisis hit and terest. This was poor policy then those issues, the final deals are For security purposes, no backpacks allowed, random security and bag checks. An activity of the Greater New York Automobile Dealers Association. markets plunged,the state and local and is completely irresponsible now shrouded in even more mystery.

March 30, 2015 | Crain’s New York Business | 9 20150330-NEWS--0010-NAT-CCI-CN_-- 3/26/2015 6:16 PM Page 1

HEALTH CARE

therapy is to maximize the effect of killing cancer cells and minimize Meet Harlem’s $238M cancer killer the effect on neighboring tissue,” Dr. Simon Powell, chair of the De- The high cost of construction need to be created by a consortium. partment of Radiation Oncology at and the logistics of finding a site to And so the New York Proton Cen- Memorial Sloan Kettering, told BY BARBARA BENSON house mammoth machines—a cy- ter will be built by some of the state health officials in 2009, when clotron can weigh 220 tons—have biggest names in health care: the project was in its early stages. ince 2009, local cancer specialists have dreamed of building a mec- made it hard to build a center here. Memorial Sloan Kettering Cancer But there has been much push- ca for proton-beam therapy in Manhattan. Now the $238 million Further complicating the issue Center, Mount Sinai Health Sys- back from insurers in recent years;at New York Proton Center is moving closer to reality, as state regulatory are the usual public policy concerns. tem, Montefiore Health System least three no longer cover the treat- officials prepare to review the proposal in April. State health officials have worried and UnitedHealth Group are in- ment for prostate cancer.The cost is Whether or not the state Department of Health ultimately ap- that hospitals would engage in a vestors in the massive project. high—nearly 10 times what Sproves the project, the city is already a latecomer to a party well underway. medical arms race as they try to out- Proton-beam technology has Medicare reimburses for the older Nationally, 15 centers offer proton-beam therapy to combat some rare can- maneuver one another to be first to been embraced by oncologists be- technology. cers. ProCure Proton Therapy Center in Somerset, N.J., is the closest local open a cutting-edge proton-beam cause it focuses on a far smaller area The New York Proton Center outpost. Construction on the 115,300-square-foot Manhattan proton- center. About five years ago, they than conventional radiation thera- estimates that about 45% of its pa- center site at 225 E. 126th St. will begin in June. mandated that any project would py. “The Holy Grail of radiation tients will be covered by Medicare, and another 31% by commercial insurers.By its third year of operation, the treatment cost will be an estimated $1,911.53 per visit. At 45,388 projected annual visits, that would put the profit at $5.8 million. Though those numbers add up, signs of economic trouble have emerged elsewhere in the proton- NEXT beam world since New York state approved the proton-beam consortium. In December, an Indiana facility, open since 2004, became the first to close. The New York center expects ample demand for its outpost: 1,500 patients annually for treatment or research purposes by the third year. Many—27%—will be adults with head or neck cancers; LEVEL an additional 20% will be prostate cancer patients. Consortium members have evolved over time. NYU Langone Medical Center dropped out, losing its $1.4 million investment. A spokeswoman cited “other pressing strategic priorities” after Super- storm Sandy. Another early member, 21st Century Oncology, has been replaced by ProHealth Proton Center Management, an affiliate of UnitedHealth Group. Equity contributions are from MSKCC Proton ($20.4 million), ProHealth Proton Center Manage- ment ($15.4 million), Mount Sinai Proton Holding Co. ($15 million) and Montefiore Proton Acquisition ($5 million). IN OUR CLASSROOMS, INDUSTRY PROFESSIONALS Unhealthy Bronx TELL IT LIKE IT IS. +*/0.1 0%+*ŏ *#!)!*0ŏđŏ1* .%/%*#ŏ A coalition of Bronx politicians and At the NYU School of Professional Studies, you acquire * ŏ.*0)'%*#ŏđŏ(+(ŏû%./ŏ health care groups are trying to im- real-world, practical experience from top industry +/,%0(%05ŏ * 1/0.5ŏ01 %!/ŏđŏ1)*ŏ prove the health of borough resi- experts and thought leaders in their fields. Our graduate Resource Management and Development dents. But a new analysis shows the enormity of that task. The Bronx programs provide an insider’s view to an education that *0!#.0! ŏ .'!0%*#ŏđŏ *#!)!*0ŏ* ŏ ranked last among New York’s 62 is immediately applicable in the workplace. Immersed 5/0!)/ŏđŏ.+"!//%+*(ŏ.%0%*#ŏđŏ.+&! 0ŏ counties for the sixth straight year in in the heart of NYC, you benefit from an unmatched *#!)!*0ŏđŏ1(% ŏ!(0%+*/ŏ* ŏ a report published last week by the global perspective, invaluable networking opportunities, +.,+.0!ŏ+))1*% 0%+*ŏđŏ1(%/$%*#čŏ Robert Wood Johnson Foundation. and professional experiences at top companies and After last year’s last-place finish, a %#%0(ŏ* ŏ.%*0ŏ ! %ŏđŏ!(ŏ/00!ŏ organizations. Sixteen career-focused master’s degrees coalition called the Campaign for a !(ŏ/00!ŏ!2!(+,)!*0ŏđŏ,+.0/ŏ1/%*!//ŏ and 15 graduate certificates prepare you for the Healthy Bronx, which includes Monte- +1.%/)ŏ *#!)!*0ŏđŏ.*/(0%+* challenges that lie ahead and the successes within and fiore Medical Center, formed to lift the county from the bottom by 2020. beyond your reach. “Putting a date down is a challenge to all of us. If you don’t have ATTEND: A Graduate Information Session on Monday, April 27, 6 p.m. the date, then you’re not working toward something,”said Charmaine REGISTER: sps.nyu.edu/graduate-events1g VISIT: sps.nyu.edu/graduate1g CALL: 212-998-7100 Ruddock, project director of Bronx REQUEST INFO./APPLY TODAY: sps.nyu.edu/gradinfo1g Health Reach. The group of about 70 organizations wants the elimina- tion of health disparities in the FIND YOUR Bronx to be a top priority of the FUTURE SELF city’s Department of Health and Mental Hygiene. It aims to raise awareness among residents through New York University is an affirmative action/equal opportunity institution. ©2015 NYU School of Professional Studies. its #Not62 slogan on social media. —jonathan lamantia

10 | Crain’s New York Business | March 30, 2015 20150330-NEWS--0011,0012-NAT-CCI-CN_-- 3/27/2015 3:03 PM Page 1

MEET THE CLASS OF 2015

Photography by Buck Ennis www.crainsnewyork.com/40under40

March 30, 2015 | Crain’s New York Business | 11 20150330-NEWS--0011,0012-NAT-CCI-CN_-- 3/27/2015 3:04 PM Page 2

NEW YORK’S RISING STARS

Sleeping their way to the top ALPHABETICAL INDEX Breslow, Noah ------34 Chambers, Reggie ------24 His are the habits of a highly successful people’s everyday lives. Some companies Clarke-Stone, Tricia ------26 The slumbering habits individual.And while impressive,in a shift are now embracing rest in order to maxi- Copeland, Misty ------18 that has only begun to take root in corpo- mize productivity. Google, for example, Crampsie, Lauren ------16 of highly successful 40s rate culture, sleep deprivation is no longer encourages employees to sleep on the job Farley, Thomas ------21 and what they say about considered the ideal of industriousness.As by providing high-tech nap pods equipped Hamill, Justin ------16 this year’s 40 Under 40 honorees show, the with Bose music systems. Jain, Amy ------20 how to rest for success sleep patterns of successful people have When digital agency Huge Inc. remod- Julka, Aditya ------17 less to do with a lack of it than figuring out els its Dumbo, Brooklyn, headquarters lat- Kaganskiy, Julia ------16 how to best listen to one’s internal clock. er this year, it will include at least three nap Katsuyama, Brad ------25 BY YOONA HA rooms for its 600 local employees—up from Lappin, Jessica ------24 Badge of honor just one spot now. Lerman, Howard ------29 Ever since Reggie Chambers was a 10- American culture has long tended to “It’s important to give people a place to Liu, Ida ------17 year-old juggling early-morning hockey worship at the altar of sleep deprivation, rest and get centered and get away from it Mirarchi, Carlo ------30 workouts with competitive piano playing glorifying those who can pack more activi- all,” explained Andrea Bredau, Huge Inc.’s Moskovits, Toby ------21 and academics, he has slept a scant four ty in 24 hours than most do in a week. head of talent. Nonoo, Misha ------28 hours a night. Thomas Edison slept little and exhorted his The Huffington Post also offers snooz- Ohanian, Alexis ------14 By the time he arrived at Duke for un- workers to follow his lead,lest they be lulled ing rooms for employees, as do many com- Ostrom, Luke ------28 dergrad studies and then Harvard Law into a life of complacency. Self-described panies featured in Crain’s Best Places to Parris-Lamb, Chris ------29 School, his internal rhythm was set. Now a workaholic Martha Stewart credits her suc- Work. Parsons, Amanda ------25 strategy and corporate-finance consultant cess to four hours of sleep nightly. “You see many successful companies like Raider, Jeff ------24 at McKinsey & Co., the 39-year-old wakes Sleep experts call this “sleep machismo,” Google and Apple displacing the sleep Rivera, Luis ------25 up without an alarm clock at 4:30 a.m. and in which sleep loss is valued over sleep. It machismo attitude with the thought that Rodney, Gary ------16 hits the gym by 5, using the early hours to was once considered a badge of honor in employees are most productive when they Saujani, Reshma ------25 clear his head. Far from sapping him, he corporate cultures. are well rested,”said Dr.Andrew Westwood, Schwartz, Jake ------22 said, his lack of sleep energizes him. But that is changing, especially among assistant professor of the clinical neurology Segalis, Boris ------28 “I don’t feel sleep-deprived,” he said.“In tech firms with roots in California, where division at Columbia University Medical Shaw, Caroline ------33 fact, I feel pretty good.” healthy living is more deeply embedded in See SLEEP on Page 34 Shechtman, Rachel ------29 Spann, Hilary ------32 Stanton, Brandon ------21 Stein, Jon ------17 40 UNDER 40 ONLINE OUTTAKES Stern, Michael ------34 Tandon, Nina 21 THE OVERACHIEVERS CHRONICLED IN THESE PAGES have a lot ‘You don’t have ------more to say than we have room to print. For video interviews with Timms, Henry ------32 to fit into a mold Topolsky, Joshua 20 each honoree—plus a list of all their Twitter handles so you can ------to succeed’ Torres-Springer, Maria ------28 follow what they say and do going forward—head to Turner, Nat 20 crainsnewyork.com/ 40under40. —Misty Copeland ------(left) Vaynerchuk, Gary ------32 Weiss, Emily 32 LISTEN to a discussion about how we chose this year’s Profile on Page 18 ------class at CrainsNewYork.com/podcasts

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12 | Crain’s New York Business | March 30, 2015 All aboard the entrepreneurship

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NEW YORK’S RISING STARS

ALEXIS OHANIAN, 31 Co-founder, executive chairman, Reddit IF SILICON ALLEY WERE an actual alley, at least one end of it would lead to Alexis Ohanian—and he would likely be responsible for whatever was at the other end. Mr. Ohanian was an Internet millionaire at the age of 23, when he and a partner sold their social news startup Reddit to Condé Nast for an undisclosed, yet putatively hefty, sum. Between the sale of Reddit and his 30th birthday, Mr. Ohanian founded a handful of other startups, dabbled in Eastern European microfinance and set up shop as a seed investor-cum-adviser in his Brooklyn birthplace. Since then, he has invested in thriving startups like Artsy and General Assembly, and become a leading voice in the debate over Net neutrality. His activism on that issue put Mr. Ohanian’s face all over national TV, where he became a likable and knowledgeable source on a topic that few understood. In November, Mr. Ohanian returned to Reddit as executive chairman. The timing of his homecoming could not have been better: Reddit was plagued by controversy after users posted stolen photos of nude celebrities. At 31, Mr. Ohanian was now that mature voice needed to guide the ship. Even with his Reddit commitments, Mr. Ohanian remains passionate about the Brooklyn startup scene. “Success begets more success,” he said. “We’re seeing more and more companies thrive in Brooklyn.” The borough is also where he believes Silicon Alley’s first epochal company will be birthed. “Etsy’s on its way to being that,” he said. “Genius is on its way.” —THORNTON MCENERY

14 | Crain’s New York Business | March 30, 2015 440 WETIMES MADE IT HERE TODAY ALONE.

With over 175 more daily flights out of New York than any other airline, we have the city covered. For that matter, we have the country covered, too. No wonder more people choose Delta than any other airline.

Based on a survey of peak day flights in March 2015 departing from JFK and LGA. Survey includes regional and contract carriers. 20150330-NEWS--0016,0017-NAT-CCI-CN_-- 3/26/2015 6:18 PM Page 1

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LAUREN JUSTIN HAMILL, 36 CRAMPSIE, 34 Partner, Paul Weiss Rifkind Wharton & Garrison Global chief marketing officer THERE WAS NEVER ANY DOUBT that Ogilvy & Mather Justin Hamill would become a lawyer. His mom was an assistant district attorney in the Bronx and then a judge in Brooklyn. As a New IN 2004, LAUREN CRAMPSIE was just starting her advertising career in Ogilvy & Mather’s new-business York City kid, he was always negotiating department after a stint at the Today show. The next and debating. thing she knew, she was climbing the corporate An early taste of dealmaking came ladder with haste: She became the youngest new- in 2003, when he was part of a business director in 2007 and Ogilvy’s first North team working around the clock on American chief marketing officer in 2010, and the joint venture of Sony Music she was promoted to global CMO in 2012. and BMG. “I loved watching the Ms. Crampsie lives by the mantra “A watched negotiations and knew that I door never opens,” which describes her work wanted to be the one leading ethic and drive. them someday,” he said. As global CMO of one of the world’s Now he is. In 2014, he largest agencies, she leads the company’s was lead counsel on business development, has a staff of Hollywood agency William about 20 employees and has brought Morris Endeavor’s $2.4 billion in Ikea, Tiffany & Co., Coke Zero and acquisition of IMG Worldwide, other major accounts. which helped earn him a “Deal Whether it is taking care of her Maker of the Year” nod from industry son, Drake, visiting Ogilvy offices publication Finance Monthly. around the world or spinning at “A good negotiator is always SoulCycle, Ms. Crampsie is a reading the room, gauging if a change in master juggler, which she attributes approach is necessary,” he said, noting the to the self-discipline she learned at a more complex the transaction, the better. young age as a classically trained violinist. “To have someone that young able to win “My main focus is always about making the confidence of senior sophisticated Ogilvy shine brighter,” she said. clients—I’ve never seen anything like it,” said Bob Schumer, partner at Paul Weiss. —YOONA HA —HILARY POTKEWITZ

GARY RODNEY, 39 JULIA KAGANSKIY, 28 President, New York City Housing Director, New Inc. Development Corp. AN ACCOMPLISHED MATCHMAKER MAYOR BILL DE BLASIO has put building or preserving between the worlds of art and technology, 200,000 units of affordable housing over 10 years at the Julia Kaganskiy has a new platform for her center of his agenda, and Gary Rodney at the forefront skills. Last summer, she launched New Inc., of executing it. the first-ever museum-backed incubator, Appointed by the mayor last year, Mr. Rodney is which aims to foster innovation and charged with providing much of the financing through collaboration in the creative class. the New York City Housing Development Corp. A Teaching business basics is also a native Bostonian and the son of Haitian immigrants, key part of the program. Mr. Rodney earned a master’s degree in urban “Creatives need an planning from New York University’s Robert F. infrastructure to learn business Wagner Graduate School of Public Service and training since they don’t get it at joined the housing agency in 2001 as school,” said Ms. Kaganskiy. development manager, rising to vice “We are helping develop the president of development in 2005. culture economy in the city.” Later, as executive vice In 2011, Fast Company president for development at real named the native Ukrainian as estate developer Omni New one of technology’s most influential York, he helped acquire and women. Among her achievements: preserve some 5,500 units of founding #ArtsTech Meetup, a affordable housing—a private- networking group, and editing the sector experience that is Creators Project, a venture between informing his return to Vice Media and Intel that explores government. the intersection of arts and “It definitely gives you a technology. new perspective, having Her new incubator is in an been on the other side of the 8,000-square-foot space next to table,” Mr. Rodney said. the New Museum that currently —CHRIS BRAGG houses about 80 participants. It cost about $2 million to build and will have an estimated annual budget of $500,000. —THERESA AGOVINO

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TV-viewing habits ADITYA JULKA, 33 CEO and co-founder, Paddle8 ONE OF THE FASTEST-RISING STARS in the art 12 11 2 15 market isn’t a sculptor from Brooklyn; it’s the first s online auction house, Paddle8. Watch Use Watch Watch 40 The company is the brainchild of Aditya Julka, an FAST FACTS TV DVR on iPad online Indian biochemical engineer with a Harvard M.B.A. and two successful biotech companies already under his belt, and Alexander Gilkes, a well-known auctioneer. Though dwarfed by big houses like What’s for lunch? Print vs. electronic Christie’s, Paddle8 is gaining buzz quickly with Eat at collectors and investors by focusing on works their desk Read on iPad below $100,000 and running auctions for major 13 charity galas. Read on Kindle Since its 2011 founding, the company has sold more than $50 million worth of art. It 28 5 has also attracted more than $17 million Read print in funding from investors including 22 artist Damien Hirst and the backers of Read books Uber and BuzzFeed. Its increasing 38 number of employees—which has Read magazines more than tripled in the past year, 8 to 100—includes Princess 4 32 Eugenie, daughter of Prince Eat at Read newspapers restaurants Andrew and the Duchess of Skip it 32 York. Mr. Julka, a self-described serial entrepreneur who scuba- dives in his free time, said his TALKING POINTS training as a scientist is what JAKE SCHWARTZ is teaching himself to play the banjo. helps him grow the company. “I take business problems and GARY VAYNERCHUK is more patient than he seems. “They mistake my insane break them down into small energy and public bravado for fast, but I am stunningly slow.” experiments we can test,” he said. TRICIA CLARKE-STONE took DJ lessons a few years ago and spins at events “That’s how we manage risk.” —MIRIAM KREININ SOUCCAR around town.

IDA LIU, 38 JON STEIN, 35 Managing director, head of Chief executive, Betterment North America Asian Clients Group BEFORE HE HAD A BUSINESS PLAN, Citi Private Bank Jon Stein had a name for his firm, which uses a word seldom heard outside real IDA LIU ISN’T YOUR TYPICAL BANKER. For estate circles and is a hat tip to his starters, she spent three years working in the parents, who were urban planners. But not fashion industry, first as a business manager at long after leaving college and starting out Bergdorf Goodman and then as global head of as a management consultant, he figured sales, marketing and business development for out his mission when he began investing designer Vivienne Tam. his money and got frustrated with “I had met so many interesting fashion consistently poor advice from big designers,” said Ms. Liu, who began her career in brokerage houses and their 1998 as an investment banker at BT Wolfensohn, opaque fees. now part of Deutsche Bank. “I realized there was a “It seemed like they wanted massive void for wealth-management strategies in me to make bad decisions,” the fashion segment.” Mr. Stein said. So in 2007, Ms. Liu pitched a fashion-, retail- Five years ago, he and entertainment-focused business to Citi Private launched Betterment, Bank. Now the head of Citi’s North America Asian which serves individual Clients Group, the San Francisco native—who investors by using speaks fluent Mandarin—oversees more than $5 software to help assemble billion in client assets and generates $45 million in portfolios of low-cost annual client revenue. index funds and adjusts “I’ve never met anybody who works as hard as holdings periodically so Ida,” said Peter Charrington, CEO of Citi Private clients don’t get Bank. “If I could plug her into an electric socket on overexposed to hot sectors just Friday night and turn out 20 more Idas on Monday before they turn cold. Aided by morning, I would.” —EMILY LAERMER $45 million in venture-capital funding, Betterment now has more than 65,000 customers and manages more than $1.4 billion on their behalf. —AARON ELSTEIN

March 30, 2015 | Crain’s New York Business | 17 20150330-NEWS--0018-NAT-CCI-CN_-- 3/26/2015 6:19 PM Page 1

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MISTY COPELAND, 32 Soloist American Ballet Theatre MISTY COPELAND isn’t your typical ballerina. The Kansas City, Mo., native is a muscular and curvy 5 feet 2 inches. She started dancing at the late age of 13, and with only four years of training she was accepted to the American Ballet Theatre, where in six short years she became the company’s first African-American female soloist in two decades. “I was naive coming from a small town,” said Ms. Copeland, who took her first ballet class on the basketball court at the local Boys & Girls Club in San Pedro, Calif., where she grew up. “I didn’t know the lack of diversity in classical ballet until I got here.” Last year, she played a major role in creating Project Plié, an ABT initiative to make ballet more accessible to minorities and low-income communities. Although from a poor family, Ms. Copeland was told from the start that she was “a prodigy.” Her talent, however, led to highly publicized drama. When she was 15 years old, she filed for emancipation from her mother so she could continue dancing. A nasty custody battle between her mother and ballet teacher ensued, but Ms. Copeland eventually withdrew the emancipation and said today she is on good terms with both her mother and former instructor. She said the ordeal “gave her a thicker skin to be able to succeed.” In 2014, Ms. Copeland became the first African-American dancer to perform Clara in ABT’s staging of The Nutcracker. A year later, apparel giant Under Armour tapped the Upper West Side resident to star in its national ad campaign as part of a multiyear endorsement. Ms. Copeland also performed with pop star Prince during his “Welcome 2 America” tour. She is an author of two books—a best-selling memoir, Life in Motion: An Unlikely Ballerina, and a children’s picture book, Firebird. And she has an Oxygen documentary series in development. This year, she plans to launch M, a dancewear line for women who are her size or a plus size. It’s a collection she has been working on for almost seven years. “Women don’t want to take dance class if they don’t feel beautiful and supported,” said Ms. Copeland. —AMANDA FUNG

18 | Crain’s New York Business | March 30, 2015 : ‘Business of’ Series Wednesday, April 15, 2015 John Jay College of Criminal Justice 860 11th Avenue LIFE SCIENCES 8:30 a.m. – 9:00 a.m. Registration & Networking Breakfast 9:00 a.m. – 10:00 a.m. Program Cost to Attend: $80 for individual ticket(s) $800 for table(s) of 10 You must be pre-registered to attend this event. No refunds permitted. Piraye Yurttas Maria Gotsch Joel C. Marcus Gillian Small, Robin L. Smith, Beim President & CEO, Chairman, CEO & Ph.D. M.D., MBA For more information: Founder & CEO, Partnership Fund for Founder, Vice Chancellor for Executive Chairman, Celmatix New York City Alexandria Real Research, NeoStem Adrienne Yee Estate Equities, Inc The City University Phone: 212-210-0739 of New York Email: [email protected] For sponsorship information: Join Crain’s as we examine one of New York’s fastest growing Joanna Harp industries. Our expert panelists will discuss how life sciences is Phone: 212-210-0278 creating economic diversiﬁ cation, stimulating job growth and tapping Email: [email protected] into the vibrant young talent from top universities and leveraging New York’s access to capital. Register Today >> crainsnewyork.com/events-bizlifesciences Host Sponsors:

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NEW YORK’S RISING STARS

JOSHUA TOPOLSKY, 37 Posting frequency Chief digital content officer, Bloomberg Media JOSHUA TOPOLSKY is the very model of a 20 12 7 1 modern news editor. A former DJ, the s Once Never 3-5 10-plus Pittsburgh native was named editor of 40 a day times times a day. FAST FACTS techie webzine Engadget in 2008, putting a day I share him at the center of the schism between old and new media. In 2011, he co- everything! founded The Verge, a tech-news website that launched with 4 million unique viewers—and had gained an additional Phone home Social-media haunts 10 million by 2014, when its parent LinkedIn company, Vox Media, was valued at 9 32 more than $200 million. Twitter That success caught the 31 attention of Bloomberg 33 Facebook Media CEO Justin Smith, who 29 hired Mr. Topolsky last Instagram summer to bring his 28 multiplatform news model Snapchat to the company. Since taking his talents to the 5 9 Pinterest tower, Mr. Topolsky has 2 made a number of key hires Android 6 and in January he launched BlackBerry Tumblr Bloomberg’s new site. 6 “At the last beta test, I was standing in a room full of developers and I just said TALKING POINTS aloud at one point, ‘This is a NAT TURNER used to keep snakes and other reptiles. “Hundreds of them at big [expletive deleted] site!’ ” one point,” he said. Mr. Topolsky recalled. “The room was silent for a moment HENRY TIMMS is related to “Star Spangled Banner” lyricist Francis Scott and then they all started Key. laughing, like, ‘no duh.’ ” NINA TANDON was on the TV show Where in the World Is Carmen Sandiego? —THORNTON MCENERY when she was 11, but lost in the first round.

NAT TURNER, 29 AMY JAIN, 32 CEO and co-founder, Flatiron Health Co-founder, BaubleBar

NAT TURNER IS ON A MISSION to fight WHAT H&M DID FOR CLOTHING, Amy Jain is cancer with technology. Flatiron Health, doing for jewelry. Four years ago, the Harvard which he co-founded in June 2012, Business School graduate and former investment aggregates cancer patients’ medical data banker launched BaubleBar—the accessory answer and provides insights to oncologists. Last to the fast-fashion movement that has taken over May, Flatiron landed $130 million in the retail industry. funding led by Google Ventures—the With more than 1,000 orders a day, BaubleBar largest round for a New York digital switches merchandise—priced between $30 and health company in 2014. Mr. Turner, a $75—on a daily basis and features some 75 serial entrepreneur and investor, also new styles a week. After debuting at co-founded Invite Media. Google Nordstrom and Anthropologie last year— bought the advertising technology and seeing sales triple as a result—Ms. company in 2010 for a reported Jain will begin selling to four additional $81 million. retailers in 2015, as well as expand With his former University of into pet and tech accessories. Pennsylvania classmate Zach Weinberg, Yet success hasn’t been Mr. Turner created Flatiron after a family simple for the Dallas native, member diagnosed with cancer who monitors the buying encountered a research arena where only 4% habits of her customers of patients’ data is studied in clinical trials. “like crazy.” “Flatiron is organizing that other 96% and “We’ve made making it useful for physicians, patients and every mistake in the researchers,” Mr. Turner said. book,” she said, The company has grown to about 180 noting how hard it employees from 25 in January 2014. can be to build brand Revenue is projected to be in the loyalty with costume jewelry, “mid-eight figures” by year’s which is often viewed as an end. afterthought. “You need to prove a —JONATHAN LAMANTIA value proposition and that the brand is cool and fashionable—that’s the biggest hurdle.” —ADRIANNE PASQUARELLI

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NINA TANDON, 35 THOMAS FARLEY, 39 Chief executive, EpiBone President, New York Stock Exchange

NINA TANDON’S STARTUP, EpiBone, has THOMAS FARLEY’S got a big job: successfully grown face bones for pigs and Rescue the world’s oldest stock aims to move to human trials in three years. The exchange, which has seen its share company, whose nine employees are spread of trading drop 75% in the past 10 out among Italy, Kazakhstan and the Harlem years, losing to more nimble Biospace on West 127th Street, has raised exchanges like BATS and lightly $3.2 million in funding since it first piqued the regulated “dark pools.” The interest of grant-making firm Breakout Labs last second-youngest person ever to summer. run the 222-year-old exchange, For Ms. Tandon, an electrical engineer, Mr. Farley has worked to simplify scaffolding is what the human body is built on. an overly complex market and The living bones EpiBone grows—each one bridge the gap between hands- individually designed to fit a particular living on and algorithmic trading since being—are what she one day hopes to use to he took the helm last May. replace damaged bones in humans. “Let’s go back to basics and “Our product is a platform for your own increase the transparency so cells to go in and repair your body,” people feel like they understand it,” Ms. Tandon said. he said. “We have a model for The Ph.D., Fulbright scholar and trading that blends the humans and TED fellow takes care of her own technology. The benefit of that mix is body through walking conference that stocks trade with less volatility calls and rock climbing, though she in our market.” admits to sometimes taking her work to It seems to be working. After the gym. —IRINA IVANOVA seeing its share of equities trading decline over the past decade, the Big Board has had a jump in market share in the past year, to 24% in January. —NICHOLAS WELLS

BRANDON STANTON, 31 TOBY MOSKOVITS, 39 Photographer, Humans of New York Chief executive

SPEAKING RECENTLY BEFORE AN AUDIENCE of Harvard students, Brandon Stanton Heritage Equity Partners flashed a slide of his résumé, which read: “Horrible photographer. Took six years to graduate FOR TOBY MOSKOVITS, good things from University of Georgia. Fired from bond trading job.” sprang from bad timing. In 2008, the year of Here’s what Mr. Stanton omitted. More than 12 million follow his four-year-old photography the economic crash, she founded Heritage and storytelling blog, Humans of New York, on Facebook. His No. 1 New York Times best- Equity Partners to manage money for the seller—a compilation of Humans of New York photos—spent 30 weeks on the list, and Mayor wealthy, but what they really wanted was her Bill de Blasio gave a copy as a gift to the mayor of Paris. And after his followers raised more help in exiting soured real estate deals in than $1 million in January for a Brownsville, Brooklyn, school, Mr. Williamsburg, Brooklyn. The property novice Stanton met President Barack Obama. Ellen DeGeneres, too. took a look and instead saw opportunity. Humans of New York exists because of the Internet. But it “Having a fresh perspective on the market is as much a product of Mr. Stanton’s passion and hard allowed me to see how strong it was,” said work. During the blog’s first three years, he Ms. Moskovits, a Brooklyn native who earned said, “I probably took less than 10 her M.B.A. at Bar-Ilan University in Tel Aviv. days off and took pictures for six to She quickly began establishing her own eight hours a day. I had no money. empire, buying up distressed properties When I wasn’t doing the work, I was that have since soared in value. This spring, thinking about it.” she will kick off work on her biggest project —BARBARA BENSON yet: a 400,000-square-foot Williamsburg office complex. Meanwhile, her 150-room Williamsburg Hotel is already rising nearby on super-hot Wythe Avenue. Last year, she bought a 2-acre lot in nearby Bushwick. There she will soon break ground on another hostelry, one set to include retail space and, possibly, office space for the hip tenants streaming into Brooklyn. —DANIEL GEIGER

March 30, 2015 | Crain’s New York Business | 21 20150330-NEWS--0022-NAT-CCI-CN_-- 3/26/2015 7:54 PM Page 1

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JAKE SCHWARTZ, 36 Chief executive General Assembly “SOME OF THE STARTUPS HERE HAVE GONE ON TO HUGE THINGS,” Jake Schwartz said, exhaling a puff of e-cigarette vapor into the loft-like office of General Assembly. In 2011, when he co-founded GA in the shadow of the Flatiron Building, Mr. Schwartz wasn’t planning to disrupt graduate education. Now GA alums like Washio and Spottly are upending industries around the world and attracting millions in venture-capital funds. After spending his 20s floating between finance jobs and performing arts organizations, the Wharton M.B.A. started a “clubhouse for entrepreneurs,” looking to create a networking space for the burgeoning Silicon Alley. Quickly, they saw demand grow for courses in the very subjects that start startups, like UX design and digital marketing. Mr. Schwartz said the founders thought they could have students think of education as an investment. “If we could provide a return on that investment and really transform people’s lives,” he said, “that would be something interesting.” Now GA is one of the leading “tech academies” for 20-somethings looking for quick programming skills and midcareer changers looking to reinvent themselves. After raising about $50 million in venture-capital funding, GA currently has 82 practitioner instructors. They taught 66,996 students at 13 campuses worldwide in 2014, in addition to 221,242 users of Dash, the company’s online learning tool. —NICHOLAS WELLS

22 | Crain’s New York Business | March 30, 2015

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REGGIE CHAMBERS, 39 JEFF RAIDER, 34 Strategy and corporate finance Co-founder, Harry’s consultant, McKinsey & Co. JEFF RAIDER’S Hudson Square-based YOUTH-HOCKEY PLAYER, competitive pianist barbershop is buzzing so much that he can’t get who once played with Lena Horne, investment his own hair cut there. banker, corporate lawyer, board member of a He opened the shop two years ago as part of British railroad and White House fellow— Harry’s, a line of men’s shaving and grooming Reggie Chambers has done it all. He’s now on products that he co-founded in 2013. Still in its the fast track to become a partner at infancy, Harry’s has already attracted more than McKinsey, where he advises private-equity $211 million in venture-capital funding and firms and could run the consultancy one day, quintupled its number of customers, to 500,000, says Vikram Malhotra, the firm’s chairman for from a year ago. the Americas. Last year, Mr. Raider spearheaded One sign of Mr. Chambers’ clout: Shortly Harry’s $100 million acquisition of after leaving the White House in 2013, he Feintechnik, a 95-year-old razor arranged a series of meetings for McKinsey’s manufacturer based in Eisfeld, most-senior executive with some of President Germany. “Harry’s changed the Barack Obama’s top economic advisers, as well as model of making six cabinet secretaries. razorblades,” he said, He was able to line up so many power noting the company sells meetings because when he worked at directly to consumers. the White House he helped Of course, Mr. Raider write the Jobs Act. He is no stranger to conveyed to members of successful brands, having Congress exactly what Mr. co-founded Warby Parker Obama would accept in four years ago. Like the the law, which paved the eyewear firm, Harry’s has a way for crowdfunding and charitable component—it other market reforms. donates 1% of sales to —AARON ELSTEIN education nonprofit City Year. And the 71 employees at the company’s 25,000-square-foot Hudson Square headquarters must volunteer at least 25 hours each year for charity work. —JESSICA KRAMER

JESSICA LAPPIN, 39 Grad schools President, Alliance for Downtown New York Bar-Ilan University 1 LAST YEAR, the search for a new president brought the Baruch College Alliance for Downtown New York to an unexpected place: 40s 1 the Upper East Side. Jessica Lappin, a former FAST FACTS Boston College councilwoman from that ’hood, had just emerged from her losing bid for Manhattan borough president and was 1 looking for a second act. Columbia “I went from representing the most densely 3 populated residential neighborhood to now working in Georgia Tech the densest commercial neighborhood,” she said. “It’s two sides of a coin.” 1 Not that she was in unfamiliar Harvard territory: A native New Yorker, Ms. 6 Lappin was a member of the first College-minded Johns Hopkins class to graduate from Stuyvesant High School’s lower Manhattan 1 location. NYU She joined the alliance at a momentous 37 18 4 2 time in its history. Twenty years ago, the Graduated Have Have Wharton business- and real estate-backed organization from graduate multiple emerged from a fearful place: rampant graffiti, 2 broken streetlights and mostly vacant office college degrees graduate Yale towers. “Everything was falling apart,” she degrees 2 said. Today, lower Manhattan is bursting with activity, from a resurgent residential scene to a rising tech, media and retail TALKING POINTS boom. Post-9/11 tax breaks helped, but JOSHUA TOPOLSKY was a high-school dropout. Ms. Lappin knows the neighborhood will need to stay on the cutting edge to EMILY WEISS cuts her own hair. compete: “This ain’t your father’s FiDi.” HOWARD LERMAN performed as a singer in the Washington National Opera —ANDREW J. HAWKINS as a child. MARIA TORRES-SPRINGER has never watched a TLC show that she didn’t like.

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AMANDA PARSONS, 39 RESHMA SAUJANI, 39 Vice president of community and population health Founder, Girls Who Code

Montefiore Medical Center GIRLS WHO CODE, a three-year-old YEARS BEFORE “physician executive” became a nonprofit that teaches computer skills to corporate catchphrase, Dr. Amanda Parsons was girls from low-income communities, just living it. An emergency physician, she realized finished its best year: 300% enrollment during her medical training that the best way to growth, 3,000 students in 24 states, more help patients was “to help reshape the health care than $8 million raised. system itself,” she said. Off she went to business Reshma Saujani is aiming higher: school, and then on to consulting firm McKinsey. 10,000 students by the end of 2015, Last year, she arrived at the Bronx’s Montefiore programs in all 50 states and more success Medical Center to head population health stories, like the two graduates who built initiatives—keeping large groups of people healthy. their own feminist mobile game, Tampon The $3.5 billion system is scaling up the Run. initiative dramatically. Dr. Parsons now involves Thanks to several unsuccessful bids for everyone from local bodegas to the Y. “If elected office—Congress in 2010, public doctors are constantly treating but not advocate in 2013—Ms. Saujani, mother of a preventing, you won’t get anywhere,” she newborn girl, has an unusually high perch said. from which to lob bombs at an industry she Dr. Parsons is a former deputy feels is lacking in X chromosomes. She commissioner at the city’s Department quotes the stats to prove it: Less than 18% of Health and Mental Hygiene. She led of computer-science graduates in the U.S. the use of electronic medical records are women, a steep drop from 37% three to improve quality—not just billing— decades ago. and the push that eventually Meanwhile, politics continues to changed the city’s policy on beckon. The last race was hard, she solitary confinement in jails. said, but if another opportunity —IRINA IVANOVA presents itself, she won’t back down. “Reshma,” she mused in the third person, “loves infiltration.” —ANDREW J. HAWKINS

BRAD KATSUYAMA, 36 LUIS RIVERA, 37 President and CEO, IEX Chief financial officer, WHEN BRAD KATSUYAMA SAW SOMETHING, he did way more than say something. New York market, Aetna After noticing that high-frequency traders were using technology to gain millisecond advantages DOORS HAVE ALWAYS OPENED for Luis Rivera. that unfairly benefited their positions, Mr. Katsuyama left his cozy job as global head of electronic The son of Puerto Rican immigrants, he got a Boys sales and trading at the Royal Bank of Canada to found IEX, an alternative to traditional stock Club of New York scholarship to New Hampshire exchanges that slows down the speed of trades in order to create a fairer playing field. boarding school Cardigan Mountain, where he was a “What people envisioned the stock market to be didn’t exist anymore,” said Mr. Katsuyama. top math student. But after graduating from Baruch “If we felt things were still working, we wouldn’t have started IEX.” After its October 2013 launch, College and losing his direct-marketing job in the dot- IEX executed an average 570,000 trades a day. com bust, he opened doors for others—as a doorman Mr. Katsuyama was a central figure in for Upper East Side tenants including Bernie Madoff. Michael Lewis’ 2014 best-seller, Flash Boys, Mr. Rivera eventually landed an office-clerk which blew the lid off the world of high- position at Mount Sinai, where he worked his way speed trading. As a result of Mr. up to director of finance at its medical school and Katsuyama’s high profile, IEX sprouted a 12-year career in hospital and physician- executed 181 million trades in one group finance. Fast-forward to 2014, when Mr. Rivera day this January. joined Aetna. He oversees the finances and budgeting —THORNTON MCENERY for the area’s third-largest insurer, with 2 million members. Nationally, Aetna had $58 billion in revenue in 2014, up 23% from a year earlier. Aetna hired Mr. Rivera from North Shore-LIJ, where he was assistant vice president of the medicine service line. The division grew to 500 doctors from 200 during his time there, and its budget more than doubled, to $250 million. “Moving to the insurance side is a challenge that I look forward to meeting and surpassing,” he said. In other words, he still has doors left to open. —JONATHAN LAMANTIA

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TRICIA CLARKE-STONE, 39 Co-founder and chief executive Narrative WHEN TRICIA CLARKE-STONE LAUNCHED Narrative with Russell Simmons in 2013, the marketing, technology and creative agency hit the ground running. One of its first clients, sports-apparel maker Under Armour, tasked the startup with creating a digital- and social-media campaign, but Narrative took the project several steps further. It landed music sensation Pharrell Williams to produce tracks and crowdsourced submissions for another song, which was featured during Monday Night Football. Narrative wrapped phone booths with QR codes so that people could download the tracks, and Leap Motion technology allowed customers to interact with the music in Under Armour stores. And they accomplished all this in the span of four weeks, with a team of seven. “The speed at which we work is not normal,” said Ms. Clarke-Stone, who met Mr. Simmons in 2009, when he recruited her to run his then-struggling digital-media company, Global Grind, as co-president. With Narrative, Ms. Clarke-Stone wants to fill the “white space”—the gap between traditional agencies that focus on the 30- or 60-second spot, and niche agencies that emphasize digital and social media. Narrative’s clients include Samsung, Sony and Bombay Sapphire. “With digital, the sky is the limit,” Ms. Clarke-Stone said. “If you can conceptualize it and find a developer to build it, you can make it happen.” The integrative approach is working: Her firm more than doubled revenue, to $5 million in 2014 from $2 million in 2013, and projects $10 million this year. —NAZISH DHOLAKIA

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MARIA TORRES-SPRINGER, 36 LUKE OSTROM, 37 Commissioner, Department Managing partner of Small Business Services NoHo Hospitality Group

IN MAYOR BILL DE BLASIO’S fight A TALENTED CHEF who has worked in top against inequality, Maria Torres-Springer is eateries including Café Boulud, Luke Ostrom using her agency to alter how the city helps discovered he had a knack for running the underserved communities. One new business side of restaurants six years ago, initiative directs underemployed adults to when he opened Locanda Verde with a the tech sector; another provides job former colleague, celebrity toque Andrew training to Sandy victims and others. Carmellini. Located in Robert De Niro’s She also expanded a program cutting Greenwich Hotel in TriBeCa, Locanda Verde red tape so that restaurants, retailers and marked the beginning of Mr. Ostrom’s career as a manufacturers can open more swiftly, and restaurateur—and the first of many acclaimed another to improve communications with restaurants. business owners. “Locanda Verde turned out to be one of our Born to immigrants from the biggest successes, and I knew from that point on Philippines, Ms. Torres-Springer earned that I wanted to branch out,” said Mr. Ostrom. degrees from Yale University and the Today, his NoHo Hospitality operates 11 bars Kennedy School of Government at and restaurants, including the award-winning Harvard. During the Bloomberg Dutch in SoHo, and brought in $60 million administration, she was a top in revenue last year. The firm is on track to official at the Economic rake in $72 million in 2015. Development Corp., where she Raised in Ithaca, N.Y., Mr. Ostrom helped oversee more than 100 worked in the kitchen of a local Holiday projects, including the revitalization of Inn as a teenager, earning a full Coney Island and the Applied scholarship to attend Johnson & Sciences NYC Initiative. Wales University, where he studied “Both mayors had very strong culinary arts. visions for the lives of the city,” “My mother raised three kids Ms. Torres-Springer said, “but on her own, and she went back to Mayor de Blasio has a very school,” said Mr. Ostrom, whose particular and real focus and father passed away when he energy on what every job and was 12. “Her work ethic and every sector looks like.” drive became very relevant to —CHRIS BRAGG me when I started my career.” —LISA FICKENSCHER

MISHA NONOO, 29 BORIS SEGALIS, 39 Chief executive and creative director, Misha Nonoo Partner Norton Rose Fulbright MISHA NONOO CAME TO NEW YORK to make her mark. Four years into running her own clothing label, she has IN HIS EARLY 20S, Boris Segalis was in Florida already met that goal, and then some. Hailed as a building engines for the space shuttle and testing rising star by fashion insiders, the Bahrain-born booster rockets, and he was bored. “People and London-reared designer counts a around me were really into aerospace engineering. celebrity following that includes Gwyneth After work, they were still talking about it. I wasn’t,” Paltrow and Sarah Jessica Parker. Ms. he recalled. Nonoo, who sells at Bergdorf Goodman Mr. Segalis grew up in Latvia. He studied math and 30 specialty shops, as well as on her and physics because he was good at it. Both his recently launched e-commerce site, saw parents were engineers. When the Iron Curtain sales jump 25% last year. Revenue is fell, he immigrated to the U.S. for college and currently under $10 million for the 10- majored in engineering without giving it much person firm. Last spring, she earned a thought. “In my culture, education wasn’t coveted spot in the Council of Fashion supposed to be fun or interesting,” he said. Designers of America’s two-year But he started taking business-law incubator program, based on West classes at night after spending his days 38th Street. working on rockets, and he eventually “Some people tend to put graduated from New York University Law down fashion and see it as School in 2003. something frivolous, but the Focusing on data security, he was one thing that every single one of the first partners at person, every single day, has to InfoLawGroup, a specialty firm do is get up and get dressed,” that quickly became a leader in said Ms. Nonoo, who the nascent field. Mr. Segalis manufactures half of her designs in recently joined Norton Rose New York’s garment center and half Fulbright to expand its data overseas. “I love how you can express protection and privacy group. Each your individualism through clothing.” new high-profile data breach brings more —ADRIANNE PASQUARELLI Fortune 100 CEOs to his doorstep seeking advice. —HILARY POTKEWITZ

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Where they live HOWARD LERMAN, 35 CEO, Yext 10 38 2 22 WHEN HE WAS 14 and armed with a dial- s Are Live Live Own up modem, Howard Lerman started his 40 native in the in the their own BBS—a bulletin board system that FAST FACTS New city suburbs primary was a precursor of the Web. Having fallen Yorkers residence in love with technology, he would go on to found three companies—one while nearly flunking out of Duke—before he landed on Yext. Kids Relationship status The firm, a cloud-based service Have kids Married managing the data for brick-and-mortar businesses of all sizes, had $60 million in 24 revenue in 2014, up 71% from the prior year. Yext is now focused on international expansion and 21 Long-term relationship establishing itself as the “Switzerland” of location 7 data—a neutral, independent alternative to Google, helping businesses manage address Single and phone-number information across 9 more than 100 publishers. 19 “There are 50 million [business] locations in the world, and we have 400,000 of them,” Mr. Lerman said. Don’t have kids “We’re the global leader in digital- presence management, and we haven’t even achieved 1% market penetration. This is going to be a TALKING POINTS very big business.” —MATTHEW FLAMM JESSICA LAPPIN was a competitive ice skater while growing up. CHRIS PARRIS-LAMB loves being alone in the wilderness and tries to do a solo backpacking trip once a year. BRANDON STANTON once read a biography of Martin Van Buren, the eighth president of the U.S. “It was as awful as it sounds, but I was too proud to stop reading.”

CHRIS PARRIS-LAMB, 33 RACHEL SHECHTMAN, 37 Literary agent Founder and CEO, Story The Gernert Co. MOST OF THE INNOVATION in retailing takes GROWING UP IN BURLINGTON, N.C., Chris Parris-Lamb did not start out on the book place online—with one glaring exception: the world’s inside track: When he interviewed for a summer internship at a literary agency, he brick-and-mortar shop executed by Rachel didn’t know what an agency was. “I thought it was another word for a publisher,” he said. The Shechtman. Four years ago, she founded agency chose him anyway and welcomed him back after college. Story, a Chelsea store that changes its Mr. Parris-Lamb, who moved to the Gernert Co. in 2005, became known for selling literary merchandise, appearance and theme every books in a difficult climate even before he won four to six weeks. What’s more, it reels in $650,000 for the first novel The Art of Fielding, revenue not just from products but also by Chad Harbach, in 2010. In 2013, he sold from sponsorships with brands like another first novel, City on Fire, by Garth Risk American Express, Target and General Hallberg, for nearly $2 million (it’s out in Electric, and hosts after-hours pitch September). nights for emerging inventors. More recently he had books by three “You can do stuff in real life that clients—including Peter Thiel’s Zero to One—on you can’t do on a piece of paper,” the New York Times best-seller list in the same said Ms. Shechtman. “Why is week. The secret, Mr. Parris-Lamb said, is to retail not a media channel?” ignore trends and go after books “that deserve A fourth-generation retailer who to be part of the cultural conversation. I like to spent a dozen years consulting for give people what they didn’t realize they wanted.” brands such as Toms Shoes, the Gap, Kraft and the Council of Fashion —MATTHEW FLAMM Designers of America, she likens Story to a magazine, able to promote the 1,100- plus brands it has sold thus far. The store was profitable in its first year and is on track to double its revenue in 2015 to more than $6 million. Next up: Ms. Shechtman has inked a consulting gig with NBC and plans to eventually launch an e-commerce site. —ADRIANNE PASQUARELLI

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CARLO MIRARCHI, 34 Chef, co-owner Roberta’s, Blanca BUSHWICK, BROOKLYN, IS CONSIDERED A FOODIE HAVEN in large part because of Carlo Mirarchi’s Roberta’s pizzeria. Opened in 2007, the hipster eatery has grown well beyond its cult following to attract celebrities including Beyoncé. Even former President Bill Clinton held a party there. Mr. Mirarchi, described as a “brilliant chef” by the director of the Michelin restaurant guide, earned two stars in the latest edition for Blanca, his three-year-old, 12-seat fine-dining eatery, located a few steps from Roberta’s, with a $195-per-person tasting menu. “Blanca keeps me in the kitchen, and that’s what keeps me sane,” the chef said. The most prominent food critics here are besotted with the Long Island native, who studied art at New York University, but he is wary of all the attention. He’s also embroiled in a lawsuit with one of Roberta’s co-founders over the business. To unwind, Mr. Mirarchi travels to tracks across the country to race his three motorcycles and his Lexus RCF. “I enjoy it,” he said, “because I can’t think about anything else while I’m doing it.” Though he lived in Bushwick from 1999 to 2002, Mr. Mirarchi moved to Williamsburg, and then the financial district, where he now resides, to gain more separation from work. And that work may be expanding—he said he would consider growing his business to include even more restaurant concepts. “We are always looking for ways to contribute to the restaurant culture,” said Mr. Mirarchi. “I think we can do a little bit of both casual and fine dining.” —LISA FICKENSCHER

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HILARY SPANN, 39 HENRY TIMMS, 38 Executive director, JPMorgan Asset Management, Executive director, 92nd Street Y Global Real Assets THREE YEARS AGO, Henry Timms anointed the Tuesday after HILARY SPANN’S FIRST BIG CAREER REVELATION CAME EARLY. Studying furiously for a master’s Thanksgiving as “Giving Tuesday” to encourage people in architecture at Georgia Tech, she realized that designing buildings wasn’t her strong suit but to donate to charity the way Black Friday spurs them that buying them just might be. to shop. Online donations hit an estimated $45.7 “I have a much more analytical mind, and I’m a million last year, more than triple the amount of relationship type of person,” she said. Ms. Spann, 2012, while the number of participating charities who grew up in Georgia and still speaks with a swelled eightfold, to 20,000. It’s just one of Mr. Southern twang, switched and got a master’s in Timms’ efforts to spread the 92nd Street Y’s mission city planning before signing on to work in real beyond its neighborhood. estate valuation at PricewaterhouseCoopers “I spend a lot of time thinking about how to get the in 1998. Three years later, she jumped to next generation to embrace the values of the Y,” said Mr. JPMorgan Chase. There she quickly earned Timms, who is the organization’s first non-Jewish a reputation as an entrepreneurial leader. “We have a real focus on innovation.” dealmaker, helping the big bank Other efforts at the Y, which has a $59 outmaneuver fleet-footed competition. million annual budget, include co- These days, she manages a nine- sponsoring a summit to explore using person team handling acquisitions in technology to improve society, and a the Northeast. But it’s in Manhattan seven-day, luminary-filled festival that where she has etched her biggest mark, examines the nature of genius, which arranging more than $5 billion in deals will be broadcast on the Web. during the past two years. Initially, she —THERESA AGOVINO focused on lower Manhattan, buying 195 Broadway, among others. Last year, she shifted to midtown, acquiring 50% stakes in 1345 Sixth Ave. and 605 Third Ave., as well as other properties. “We see an upside in midtown,” Ms. Spann said. “Financial-service and legal firms that are tenants there have finally started hiring again.” —DANIEL GEIGER

GARY VAYNERCHUK, 39 EMILY Chief executive, VaynerMedia WEISS, 30 IT WOULD BE EASY to think that Gary Vaynerchuk does nothing but talk: He broke into the new- Founder and chief executive media landscape with his Wine Library YouTube channel in 2006, now hosts the #AskGaryVee Glossier channel and makes constant public appearances when not being interviewed for articles. SKIN IS IN, and it’s partly thanks to Emily But the Soviet Union-born, New Jersey-bred Weiss. While working as a fashion assistant marketing guru can also point to results, starting at Vogue in 2010, she started beauty blog with WineLibrary.com, the e-commerce site he Into the Gloss, which now boasts 1 million launched for his parents’ wine shop in 1996, unique monthly visitors. Last fall, the NYU before he even owned a computer. “I understood grad launched Glossier, offering six skin- people were going to buy wine on the Internet,” care products priced from $12 to $26. said Mr. Vaynerchuk, who eventually “These are luxury products at an increased the store’s overall sales to accessible price point for digitally more than $50 million from $3 savvy early adopters,” she said. million. “Women should be able to get amazing Meanwhile, VaynerMedia, the products and not feel stressed out, social-marketing agency he having to ration each drop.” Already, founded in 2009, and which Glossier, which employs 25—a number counts Pepsi and General expected to double over the course of Electric among its clients, is 2015—has racked up more than $10 set to top $50 million in million in funding. revenue this year. For now, the SoHo-based company is “We’re really focusing on skin, launching new items each thinking about how to quarter, such as face masks and sell, and we’re moisturizers, before moving on to color executing with the beauty products next year. Ms. Weiss is also understanding of when working on more pop-ups throughout the to post, how to post, country after successful stints in SoHo and which platforms are working, San Francisco. which are merging,” Mr. “We want the girl in Ohio to know we’re Vaynerchuk said. “I’m a tortoise there for her,” said the Connecticut native. in a hare’s body.” —JESSICA KRAMER —MATTHEW FLAMM

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CAROLINE SHAW, 32 Musician CAROLINE SHAW HOPED ONLY to introduce her work to industry elites when she submitted for a Pulitzer one of the few compositions she had written. Instead, in 2013, at age 30, she became the youngest winner of the award for music, ever. “I thought the $50 entrance fee was cheaper than taking people out for drinks,” quipped Ms. Shaw, who learned the violin from her mother as a child in North Carolina and later branched out into singing and composing. She won a Grammy in the best small ensemble category in 2014 as part of the singing group Roomful of Teeth, which recorded her Pulitzer-winning a cappella work, Partita for 8 Voices. The honors led to more prestigious gigs for one of the city’s most sought-after talents, whose credits include performing with the Trinity Wall Street Choir and Paul McCartney. In March, Ms. Shaw, who has a master’s in music from Yale and is currently a doctoral candidate in composition at Princeton, performed a violin concerto with the Cincinnati Symphony and rock band the National. The performance, a first for both the symphony and the band, innovatively combined classical music with indie elements and met with rave reviews. “Shaw is a fascinating composer,” wrote one reviewer in the Cincinnati Enquirer. “She is clearly an artist with a distinctive voice of her own.” —THERESA AGOVINO

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MICHAEL STERN, 35 NOAH Founder and managing partner BRESLOW, 39 JDS Development Chief executive MICHAEL STERN NOT ONLY IS BUILDING what will be the tallest residential tower in the Western OnDeck Hemisphere when it is completed, but he is also turning the construction industry on its head in the process. AFTER GRADUATING FROM MIT, Noah The Long Island native’s 60-foot-wide, more than quarter-mile-high Steinway Tower on West Breslow launched his career working at 57th Street is just the latest of his projects that observers said couldn’t be done—in this case browser pioneer Netscape and then a because he is planning to use nonunion labor on the complex job. European company that tried “We are always trying to push the envelope,” unsuccessfully to develop satellite said Mr. Stern, a father of two young children. communications systems. So when he got Case in point: A few years ago, his idea to pitched eight years ago to help launch a clad part of the wildly successful startup with the decidedly earthbound Chelsea Art Deco conversion Walker goal of developing new ways to make Tower in decorative metal was so small-business loans, his reaction was: out-there that he couldn’t find a Why bother? manufacturer up to the job. He He’s glad he bothered. The lender ended up doing it in-house, and he helped build, OnDeck, uses in- made a pretty penny from it. house technology to assess the Mr. Stern started his real estate creditworthiness of business owners. firm, JDS Development, in 2002 after Revenue more than doubled last year, cutting his teeth as a project manager to about $150 million, and the in Miami. The company now has company, whose backers include $3 billion worth of projects in its Google Ventures and Peter Thiel, 2015 pipeline. —JOE ANUTA completed an initial public offering that values it at more than $1 billion. Mr. Breslow, who as a youth memorized Rush albums and made pocket money by playing standards like “Misty” at political fundraisers, oversees a company that has grown to 460 employees. —AARON ELSTEIN

Sleep: the rest of the story Buck shots: He gets the whole picture Continued from Page 12 THIS IS THE 20TH STRAIGHT YEAR that Buck Ennis has photographed every member of Crain’s Center’s Division of Epilepsy and Sleep Dis- New York’s latest class of 40 Under 40s, and the assignment never gets old. orders. 40s getting Z’s “It’s like a shot of adrenaline for the new year,” he said of his annual January-to-February Though Lauren Crampsie, global chief task of composing 40 exceptional portraits of 40 exceptional New Yorkers. “Bankers, marketing officer of Ogilvy & Mather, sleeps entertainers, lawyers, techies, activists, you name it—they come in to our studio over the course very little—she credits a healthful diet and of a few weeks, and they just wow you with their enthusiasm for what matters to them. daily SoulCycle workouts with facilitating They’re overachievers, yes, but they’re existing in a place where we all could be with maybe just such a schedule—she encourages her em- 7 a little more oomph in our own lives.” ployees to rest. Get less than 5 hours Buck creatively captures their faces (and even the rest of their bodies), but he also What’s most important is to follow your captures something else: their personality, their presence, that hint of what makes them own biological rhythm and get the sleep that tick. That can be hard to achieve in our mediacentric age, when many an up-and-comer arrives makes your body feel best. “Some people are with talking points in hand and selfie-awareness of his or her most flattering angles. just genetically wired to get few hours of 11 22 Then they enter Buck’s realm. “If they’re talking about work, they’re gonna look like work,” he sleep,” said Dr. Westwood. Get more Get 5-7 hours said of his photo shoots. “I try to get them away from that script they walked in the door with, Seven of this year’s 40 Under 40 honorees than 7 hours a night get them off on tangents so that they talk about their free time: their passions, food, travel, their are what scientists call “short sleepers”—peo- kids, my kids, the news, real life. If they’re talking about their free time—the other reality of who ple who don’t need to snooze long to be suc- they are—they become that person. The fire comes into their eyes. That look in their eye— cessful. They cite a rigorous fitness regime that’s who you want to see.” GLENN COLEMAN and eating right as some of the reasons they — need such little rest. ‘Serial napper’ Tricia Clarke-Stone,chief executive of ad- about 70 million Americans endure sleep vertising agency Narrative, sleeps just four to problems, according to the Centers for Dis- five hours per night.“I take [feeling well rest- ease Control and Prevention. ed] as my body co-signing and letting me America’s insomnia has been good for the know that my sleep schedule is working just $32 billion sleep industry and professionals fine,” she said. like Nancy Rothstein, who has made a career But what works for Ms. Clarke-Stone out of advising others on healthful habits. won’t work for Amy Jain, who co-founded She bills herself as a “sleep ambassador” and jewelry startup BaubleBar four years ago. “I’m has been consulting and lecturing on sleep a serial napper,” she said. “Sometimes I wake wellness to Fortune 500 corporations for up early in the morning just so I can take a nap.” eight years. She often performs “corporate Eleven of Crain’s 40 Under 40 honorees interventions” to advise companies on sleep SHOOTING MATCH: Crain’s Buck Ennis said they slumber more than seven hours each wellness. (left) and 40 Under night.That’s the minimum recommended by Her advice is to listen to your body and 40 honoree Brandon the American Academy of Sleep Medicine— don’t overdo it—and that may mean going Stanton ply their craft.

though many Americans end up with less and easy on the coffee. “Caffeine is not a substi- ian duncan ball don’t feel rested when they wake. Indeed, tute for sleep,” she cautioned. Ⅲ

34 | Crain’s New York Business | March 30, 2015 Profiles of Entrepreneurs in the 5 boroughs

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TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR EMAIL [email protected] FINANCIAL OPPORTUNITIES IN PUBLIC & LEGAL NOTICES MORTGAGE NOTES Notice of Formation PDM Fund III, LLC Notice of Qualification of Williamsburg Notice of Qualification of WFO BP REO Notice of Formation of LOPEZ & Arts. of Org. filed with SSNY 12/9/14. Portfolio V, LLC. Authority filed with NY 2015-01, LLC Appl. for Auth. filed with WARDLE LLP Cert. of Reg. filed with • Mortgages For Sale Off. Loc.: New York Cnty. SSNY Dept. of State on 2/18/15. Office Secy. of State of NY (SSNY) on 03/17/15. Secy. of State of NY (SSNY) on 01/13/15. designated as agent of LLC whom location: NY County. LLC formed in Office location: NY County. LLC Office location: NY County. SSNY • Ranging from $149K - $800K process may be served. SSNY shall DE on 2/13/15. NY Sec. of State formed in Delaware (DE) on 03/05/15. designated as agent of LLP upon whom • Low Loan to Value mail process to: c/o Wiggin and designated agent of LLC upon whom Princ. office of LLC: 1140 Ave. of the process against it may be served. Dana LLP, 450 Lexington Ave, Ste process against it may be served and Americas, 7th Fl., NY, NY 10036. SSNY SSNY shall mail process to Corporation • Accruing Default Interest @ 24% 3800, New York, NY 10017. shall mail process to: c/o CT designated as agent of LLC upon whom Service Co., 80 State St., Albany, NY Purpose: all lawful activities. Corporation System, 111 8th Ave., NY, process against it may be served. SSNY 12207-2543. Purpose: Law. Call: J. Hughis @ 888-377-3872 NY 10011, regd. agent upon whom shall mail process to c/o Corporation Magna Partners II, LLC. Appl. for process may be served. DE addr. of Service Co., 80 State St., Albany, NY Notice of Qualification of Ameron Pole Auth. filed with Secy. of State of NY LLC: The Corporation Trust Co., 1209 12207-2543. DE addr. of LLC: 2711 Products LLC. Authority filed with NY (SSNY) on 01/28/15. Off. loc.: NY Co. Orange St., Wilmington, DE 19801. Centerville Rd., Ste. 400, Wilmington, Dept. of State on 2/20/15. Office Orig. juris.: DE. SSNY des. as agent Cert. of Form. filed with DE Sec. of DE 19808. Cert. of Form. filed with DE location: NY County. Princ. bus. addr.: TELECOMMUNICATIONS of LLC upon whom process may be State, 401 Federal St., Dover, DE Secy. of State, 401 Federal St., Dover, 7909 Parkwood Circle Dr., Houston, served. SSNY shall mail process to 19901. Purpose: all lawful purposes. DE 19901. Purpose: Any lawful activity. TX 77036. LLC formed in DE on c/o Robinson Brog, et al., Attn: David 8/7/08. NY Sec. of State designated E. Danovitch, 875 3rd Ave., 9th Fl., Notice of Qualification of Thor 98 Notice of Formation of ALPINE agent of LLC upon whom process New York, NY 10022. Purpose: General. Morningside Ave LLC. App. for Auth. EXCLUSIVE CONTRACTING, LLC against it may be served and shall mail process to: c/o CT Corporation 33 East 33rd Street filed with Secy. of State of NY (SSNY) Arts. of Org. filed with Secy. of State Notice of Formation of Digital 2/10/15. Office location: NY County. of NY (SSNY) on 03/04/15. Office System, 111 8th Ave., NY, NY 10011, New York, NY 10016 Reading Innovations LLC. Arts. of LLC formed in Delaware (DE) on location: NY County. SSNY designated regd. agent upon whom process may 212-532-7400 Org. filed with NY Dept. of State on 10/3/14. SSNY designated as agent as agent of LLC upon whom process be served. DE addr. of LLC: 1209 [email protected] 2/27/15. Office location: NY County. of LLC upon whom process against it against it may be served. SSNY shall Orange St., Wilmington, DE 19801. Sec. of State designated agent of LLC may be served. SSNY shall mail process mail process to Wilson Elser Moskowitz Cert. of Form. filed with DE Sec. of EMERGENCY upon whom process against it may be to: c/o Thor Equities, LLC, 25 W. 39th Edelman & Dicker LLP, Attn: Nicolas State, 401 Federal St., Dover, DE COMMUNICATIONS served and shall mail process to: St., NY, NY 10018. DE address of LLC: Caiazzo, 150 W. 42nd St., NY, NY 19901. Purpose: all lawful purposes. SYSTEMS The LLC, 2 Park Ave., 10th Fl., NY, NY c/o United Corporate Services, Inc., 10017. Purpose: Any lawful activity. SPECIALISTS 10016, principal business address. 874 Walker Road, Ste. C, Dover, DE Notice of Qualification of Acino Purpose: all lawful purposes. 19904. Arts. of Org. filed with DE Secy. Products, LLC. Authority filed with • FREE PICKUP & DELIVERY ELISABETH MANDEL, LICENSED of State, 401 Federal St., Ste. 4, Dover, MARRIAGE AND FAMILY THERAPIST, NY Dept. of State on 2/24/15. Office • 48 HOUR TURNAROUND Notice of Formation of Shuster DE 19901. Purpose: any lawful activity. PLLC. Art. Of Org. Filed Sec. of State location: NY County. Princ. bus. addr.: ON REPAIRS Metropolitan GP LLC, Art. of Org. of NY 3/12/2015. Off. Loc.: New York 9B S. Gold Dr., Hamilton, NJ 08691. LLC formed in DE on 9/11/98. NY Sec. • FREE ENGRAVING filed with Sec’y of State (SSNY) Notice of Qualification of NY-SMSA Co. SSNY designated as agent upon of State designated agent of LLC • SHORT & LONG TERM 11/17/14. Office loc.: NY Cty. SSNY Sale Site Subsidiary LLC. Authority whom process against it may be upon whom process against it may RENTALS desig. as agent of LLC upon whom filed with NY Dept. of State on served. SSNY to mail copy of process be served and shall mail process to: process against it may be served. 3/19/15. Office location: NY County. to The LLC, 25 West 45th Street, Ste c/o CT Corporation System, 111 8th SSNY shall mail copy of proc. to Princ. bus. addr.: One Verizon Way, 401, New York, NY 10036. Purpose: Ave., NY, NY 10011, regd. agent Brach Eichler, Att: Samantha Karni, Basking Ridge, NJ 07920. LLC formed Any lawful act or activity. upon whom process may be served. 101 Eisenhower Pkwy., Roseland, NJ in DE on 3/3/15. NY Sec. of State DE addr. of LLC: 3422 Old Capitol Trl., 07068. Purp.: any lawful activities. designated agent of LLC upon whom Notice of Formation of Boulevard Ste. 700, Wilmington, DE 19808. Cert. process against it may be served and Retail LLC. Arts. Of Org. filed with Secy. of Form. filed with DE Sec. of State, shall mail process to: c/o CT Name of LLC: Leslie Model Design of State of NY (SSNY) on 3/4/15. 401 Federal St., Dover, DE 19901. Corporation System, 111 8th Ave., NY, LLC. Date of filing Articles of Office Location: New York County. Purpose: all lawful purposes. PUBLIC & Organization with the NY Dept of NY 10011, regd. agent upon whom SSNY designated as agent of LLC State: February 4, 2015. Office of the process may be served. DE addr. of upon whom process against it may Notice of Qual. of RCM Dash 3 Holdco LLC: New York County. The NY LLC: 1209 Orange St., Wilmington, DE be served. SSNY shall mail process LEGAL NOTICES LLC, Auth. filed Sec’y of State (SSNY) Secretary of State has been designated 19801. Cert. of Form. filed with DE Sec. to: c/o Texwood Investment Inc., 850 on 5/14/14. Office loc: NY County. as the agent upon whom process of State, 401 Federal St., Dover, DE Seventh Avenue, New York, NY LLC org. in DE 5/13/14. SSNY desig. Notice of Formation of Amstore Retail may be served. NYSS may mail a copy 19901. Purpose: all lawful purposes. 10019. Purpose: any lawful activity. LLC. Arts. Of Org. filed with Secy. of of any process to the LLC at: 945 as agent of LLC upon whom proc. against it may be served. SSNY shall State of NY (SSNY) on 3/4/15. Office Fifth Avenue, Apt. 4A, New York, NY Notice of Qualification of NRG Notice of Formation of WALDEN Location: New York County. SSNY 10021. Purpose of the LLC: A lawful Business Services LLC. Authority filed mail copy of proc. to 110 Greene St., PRESERVATION, L.P. Cert. of LP filed Ste. 1102, NY, NY 10012. DE office designated as agent of LLC upon purpose permitted for LLCs under with NY Dept. of State on 3/16/15. with Secy. of State of NY (SSNY) on whom process against it may be NY Limited Liability Company Act. Office location: NY County. Princ. bus. addr.: CSC, 2711 Centerville Rd., 03/17/15. Office location: NY County. Wilmington, DE 19808. Cert. of Form. on served. SSNY shall mail process to: addr.: 211 Carnegie Ctr., Princeton, NJ Princ. office of LP: 60 Columbus Circle, c/o Texwood Investment Inc., 850 08540. LLC formed in DE on 3/11/15. file: SSDE, Townsend Bldg., Dover, Notice of Formation of DAVIDJAMIE NY, NY 10023. Latest date on which DE 19901. Purp: any lawful activities. Seventh Avenue, New York, NY 450 W. 17TH STREET ASSOCIATES, NY Sec. of State designated agent of the LP may dissolve is 12/31/2114. 10019. Purpose: any lawful activity. L.L.C. Arts. of Org. filed with Secy. of LLC upon whom process against it may SSNY designated as agent of LP upon Notice of Formation of St. Nicholas State of NY (SSNY) on 01/21/15. Office be served and shall mail process to: whom process against it may be served. Lemor LLC. Arts. of Org. filed with Secy. Notice of Formation of WOLF SCI- location: NY County. SSNY designated c/o CT Corporation System, 111 8th SSNY shall mail process to Corporation of State of NY (SSNY) on 2/3/15. Office ENTIFIC, LLC Arts. of Org. filed with as agent of LLC upon whom process Ave., NY, NY 10011, regd. agent upon Service Co., 80 State St., Albany, NY location: NY County. SSNY designated Secy. of State of NY (SSNY) on against it may be served. SSNY shall whom process may be served. DE addr. 12207-2543. Name and addr. of each as agent of LLC upon whom process 11/07/14. Office location: NY County. mail process to Corporation Service of LLC: 1209 Orange St., Wilmington, general partner are available from against it may be served. SSNY shall SSNY designated as agent of LLC Co., 80 State St., Albany, NY 12207- DE 19801. Cert. of Form. filed with DE SSNY. Purpose: Any lawful activity. mail process to: 167 W. 145th St., NY, upon whom process against it may 2543. Purpose: Any lawful activity. Sec. of State, 401 Federal St., Dover, DE 19901. Purpose: all lawful purposes. NY 10039. Purpose: any lawful activity. be served. SSNY shall mail process Notice of Qual. of Axonic Special to the LLC, 1725 York Ave., Apt. 29B, Notice of FORMATION of CreagerCole Opportunities Fund 2014-1 GP LLC, NY, NY 10128. The regd. agent of the Notice of Qualification of PERFECT 13 REALTY LLC, a domestic Communications LLC. Arts of Org Williamsburg Portfolio IV, LLC. Auth. filed Sec’y of State (SSNY) LLC, filed with the SSNY on 4/24/1998. company upon whom and at which filed with Secy. of State of NY (SSNY) 5/19/14. Office loc: NY County. LLC process against the company can be Authority filed with NY Dept. of State Office location: New York County. on 2/24/15. Office location: NY County. on 1/29/15. Office location: NY County. org. in DE 5/19/14. SSNY desig. as SSNY is designated as agent upon served is Barry Farkas at the addr. of SSNY designated agent upon whom agent of LLC upon whom proc. process. Purpose: Any lawful activity. LLC formed in DE on 1/23/15. NY Sec. whom process against the LLC may process may be served and shall of State designated agent of LLC upon against it may be served. SSNY shall be served. SSNY shall mail process mail copy of process against LLC to whom process against it may be mail copy of proc. to Att: Clayton to The LLC, Abdul Rehman, 125 Notice of formation of BLUELIGHT principal business address: 817 served and shall mail process to: c/o DeGiacinto, 390 Park Ave., 15th Fl., Douglas Rd., Staten Island, NY NYC, LLC filed with the Secy. of State Broadway FL 10 New York, NY CT Corporation System, 111 8th NY, NY 10022. DE office addr.: CSC, 10304. General Purposes. of NY (SSNY) on 3/16/15. Office loc.: 10003. Purpose: any lawful act. Ave., NY, NY 10011, regd. agent 2711 Centerville Rd., Wilmington, DE New York County. SSNY is designated upon whom process may be served. 19808. Cert. of Form. on file: SSDE, Notice of Qualification of CRISPIN as agent of the LLC upon whom Notice of Qualification of EAST DE addr. of LLC: The Corporation Trust Townsend Bldg., Dover, DE 19901. INFERENTIAL PARTNERS, LP. Appl. process against it may be served. The MEADOW CAPITAL GP, LLC. Co., 1209 Orange St., Wilmington, DE Purp: any lawful activities. for Auth. filed with Secy. of State of NY address SSNY shall mail copy of Appl. for Auth. filed with Secy. of 19801. Cert. of Form. filed with DE Sec. (SSNY) on 02/13/15. Office location: process to is Shannon Bailey Palmer, State of NY (SSNY) on 02/19/15. of State, 401 Federal St., Dover, DE Notice of Qualification of Garrison NY County. LP formed in Delaware 1 Sheridan Sq., Apt. 7D, New York, NY Office location: NY County. LLC 19901. Purpose: all lawful purposes. Capital SBIC LP. Authority filed with (DE) on 01/23/15. Princ. office of LP: 10014. Purpose: Any lawful activity. formed in Delaware (DE) on 11/10/14. NY Dept. of State on 2/20/15. Office 200 E. 79th St., 11th Fl., NY, NY Princ. office of LLC: 30 W. 61st St., Notice of Qualification of location: NY County. Princ. bus. addr.: 10075. SSNY designated as agent of Notice of Application for Authority of #19A, NY, NY 10023. SSNY designated Williamsburg Portfolio III, LLC. 1290 Ave. of the Americas, Ste. 914, LP upon whom process against it may InstaSpace, LLC filed with the Secy. of as agent of LLC upon whom process Authority filed with NY Dept. of State NY, NY 10104. LP formed in DE on be served. SSNY shall mail process State of NY (SSNY) on 3/2/15. Formed against it may be served. SSNY shall on 1/29/15. Office location: NY County. 5/29/14. NY Sec. of State designated to the Partnership at the princ. office in PA 2/28/13. Office loc.: New York mail process to the LLC at the princ. LLC formed in DE on 1/23/15. NY Sec. agent of LP upon whom process of the LP. The regd. agent of the County. The SSNY is designated as office of the LLC. The regd. agent of of State designated agent of LLC upon against it may be served and shall company upon whom and at which agent of LLC upon whom process the company upon whom and at whom process against it may be served mail process to: c/o CT Corporation process against the company can be against it may be served. The address which process against the company and shall mail process to: c/o CT System, 111 8th Ave., NY, NY 10011, served is Michael T. Cahill, 200 E. 79th SSNY shall mail copy of process to and can be served is Stefan Brundobler, Corporation System, 111 8th Ave., NY, regd. agent upon whom process may St., 11th Fl., NY, NY 10075. Name the office address required to be 30 W. 61st St., #19A, NY, NY 10023. NY 10011, regd. agent upon whom be served. DE addr. of LP: 2711 and addr. of each general partner are maintained in PA is 550 Spencer Lane, DE addr. of LLC: c/o Corporation process may be served. DE addr. of Centerville Rd., Ste. 400, Wilmington, available from SSNY. DE addr. of LP: Warminster, PA 18974. Cert. of Service Co., 2711 Centerville Rd., Ste. LLC: The Corporation Trust Co., 1209 DE 19808. Name/addr. of genl. ptr. 2711 Centerville Rd., Ste. 400, Organization filed with Carol Aichele, 400, Wilmington, DE 19808. Cert. of Orange St., Wilmington, DE 19801. available from NY Sec. of State. Cert. Wilmington, DE 19808. Cert. of LP Secy. of State, 401 North St., Room Form. filed with Secy. of State of the Cert. of Form. filed with DE Sec. of of LP filed with DE Sec. of State, 401 filed with Secy. of State of the State 206, Harrisburg, PA 17105. Purpose: State of DE, 401 Federal St., Dover, State, 401 Federal St., Dover, DE Federal St., Dover, DE 19901. of DE, 401 Federal St., Dover, DE Any lawful activity. DE 19901. Purpose: Any lawful activity. 19901. Purpose: all lawful purposes. Purpose: all lawful purposes. 19901. Purpose: Any lawful activity.

36 | Crain’s New York Business | March 30, 2015 P036-37CL_CN_20150330.qxp 3/27/2015 11:21 AM Page 37

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR EMAIL [email protected] PUBLIC & LEGAL NOTICES

TERZI W72ND STREET LLC, Arts. of Notice of Formation of BK Park Barracuda II LLC. Arts. of Org. filed Bronx Swirl, LLC. Arts. of Org. filed Notice of Qual. of Sydell Hostel Org. filed with the SSNY on 03/12/2015. Development LLC, Art. of Org. filed with Secy. of State of NY (SSNY) on with Secy. of State of NY (SSNY) on Manager LLC, Auth. filed Sec’y of Office loc: NY County. SSNY has with Sec’y of State (SSNY) on 11/5/14. 01/30/15. Off. loc.: NY Co. SSNY des. 05/16/14. Off. loc.: NY Co. SSNY des. State (SSNY) 12/12/14. Office loc: NY been designated as agent upon whom Office location: NY County. SSNY as agent of LLC upon whom process as agent of LLC upon whom process County. LLC org. in DE 12/14/11. SSNY process against the LLC may be served. designated as agent of LLC upon whom may be served. SSNY shall mail process may be served. SSNY shall mail desig. as agent of LLC upon whom SSNY shall mail process to: JTRE, process against it may be served. SSNY to c/o Robinson Brog, et al., Attn: Neil process to Bronx Swirl, LLC, 200 proc. against it may be served. SSNY 385 5th Ave., Ste. 1010, NY, NY shall mail copy of process to NRAI, 111 S. Goldstein, 875 3rd Ave, 9th Fl., Baychester Ave., Ste. 206B, Bronx, shall mail copy of proc. to Sydell Grp., 10016. Purpose: Any Lawful Purpose. Eighth Ave., NY, NY 10011, the Reg. New York, NY 10022. Purpose: General. NY 10475. Registered agent is Jay 30 W. 26th St., NY, NY 10010, the Reg. Agt. upon whom proc. may be served. Mena, same address. Purpose: General. Agt. upon whom proc. may be served. Notice of Formation of Rome Pays Off, Purpose: any lawful activities. Manlam, LLC. Arts. of Org. filed with DE office addr.: 160 Greentree Dr., Ste. LLC, Art. Of Org. filed with Sec. of State Secy. of State of NY (SSNY) on 02/13/15. Notice of Formation of Rees Holdings 101, Dover, DE 19904. Cert. of Form. (SSNY) on 3/6/2015. Office location: Notice of Formation of Ruby Red Off. loc.: NY Co. SSNY des. as agent LLC, Art. of Org. filed with Sec’y of on file: SSDE, Townsend Bldg., Dover, NY County, SSNY designated as agent Slippers LLC, Art. of Org. filed with of LLC upon whom process may be State (SSNY) on 9/25/14. Office loca- DE 19901. Purp: any lawful activities. of LLC upon whom process against it Sec’y of State (SSNY) on 10/3/14. served. SSNY shall mail process to the tion: NY County. SSNY designated as may be served. SSNY shall mail copy Office location: NY County. SSNY LLC c/o Manhattan Laminates, Attn: agent of LLC upon whom process Notice of Formation of JSC Interiors, of process to 44 W. 18th St., 8th Floor, designated as agent of LLC upon Beth Thornton, 624 W 52nd St., New against it may be served. SSNY shall LLC. Arts. of Org. filed with NY Dept. NY,NY 10011.Purpose:any lawful activity. whom process against it may be served. York, NY 10019. Purpose: General. mail copy of process to Chadbourne of State on 11/7/14. Office location: SSNY shall mail copy of process to & Parke, 1301 Ave of the Americas, NY, NY County. Princ. bus. addr.: 575 137 WEST 25 STREET RM LLC, Arts. Dentons US LLP, Att: Kristina Beirne, Notice of Qual. of Pura Vida SPV I, NY 10019. Purpose: any lawful activities. Lexington Ave., 4th Fl., NY, NY 10022. of Org. filed with the SSNY on 11/19/2014. 1221 Ave of the Americas, NY, NY LLC, Auth. filed Sec’y of State (SSNY) Sec. of State designated agent of LLC Office loc: NY County. SSNY has 10020. Purpose: any lawful activities. on 5/12/14. Office loc: NY County. LLC Notice of formation of SoulCycle upon whom process against it may been designated as agent upon whom org. in DE 5/9/14. SSNY desig. as agent Montauk, LLC Arts. of Org. filed with be served and shall mail process to: process against the LLC may be served. Notice of Formation of Bassford of LLC upon whom proc. against it may the Sect'y of State of NY (SSNY) on c/o CT Corporation System, 111 8th SSNY shall mail process to: Glow Art Debt LLC, Art. of Org. filed with Sec’y be served. SSNY shall mail copy of proc. 11/7/2014. Office location, County of Ave., NY, NY 10011, regd. agent LLC, 28 West 25 St., Fl. 12, NY, NY of State (SSNY) on 11/6/14. Office to Att: Efrem Karmen, 888 Seventh New York. SSNY has been designated upon whom process may be served. 10010. Purpose: Any Lawful Purpose. location: NY County. SSNY designated Ave., 6th Fl., NY, NY 10106. DE office as agent of the LLC upon whom Purpose: all lawful purposes. as agent of LLC upon whom process addr.: CSC, 2711 Centerville Rd., process against it may be served. SSNY Argo 613, LLC. Arts. of Org. filed with against it may be served. SSNY shall Wilmington, DE 19808. Cert. of Form. shall mail process to: c/o SoulCycle, Notice of Formation PDM Fund IV, LLC Secy. of State of NY (SSNY) on 01/20/15. mail copy of process to 225 on file: SSDE, Townsend Bldg., Dover, LLC, 609 Greenwich St., NY NY Arts. of Org. filed with SSNY 12/9/14. Off. loc.: NY Co. SSNY des. as agent Broadway, 32nd Fl., NY, NY 10007. DE 19901. Purp: any lawful activities. 10014. Purpose: Any lawful act. Off. Loc.: New York Cnty. SSNY of LLC upon whom process may be Purpose: any lawful activities. designated as agent of LLC whom NOTICE OF FORMATION OF Aesop served. SSNY shall mail process to process may be served. SSNY shall NOTICE OF FORMATION OF FGNY Advisors LLC. Articles of Organization Notice of Qual. of Axonic Special c/o Robinson Brog, et al., Attn: Neil mail process to: c/o Wiggin and 138 Montague, LLC. Arts of Org filed filed with the Secretary of State of NY Opportunities Fund 2014-1, LP, Auth. S. Goldstein, 875 3rd Ave, 9th Fl., Dana LLP, 450 Lexington Ave, Ste with Secy of State of NY (SSNY) on (SSNY) on 2/12/2015. Office location: filed Sec’y of State (SSNY) 5/20/14. New York, NY 10022. Purpose: General. 3800, New York, NY 10017. Purpose: 8/19/13. Office location: NY County. NEW YORK County. SSNY has been Office loc: NY Cty. LP org. in DE all lawful activities. Notice of Qualification of SSNY designated agent upon whom designated as agent upon whom 5/19/14. SSNY desig. as agent of LP GREENSLEDGE ADVISORS LLC process may be served and shall mail process against it may be served. The upon whom proc. against it may be served. SSNY shall mail copy of proc. Notice of Formation of Amsland Appl. for Auth. filed with Secy. of State copy of process against LLC to: Corp Post Office address to which the SSNY Retail LLC. Arts. Of Org. filed with of NY (SSNY) on 01/26/15. Office Service Company, 80 State St, Albany shall mail a copy of any process against to Att: Clayton DeGiacinto, 390 Park Ave., 15th Fl., NY, NY 10022. DE office Secy. of State of NY (SSNY) on location: NY County. LLC formed in NY 12207. Principal business address: the LLC served upon him/her is: 3/4/15. Office Location: New York Delaware (DE) on 07/10/13. SSNY 138 Montague St, Bklyn NY,11201. Corporate Direct, Inc, 2248 addr.: CSC, 2711 Centerville Rd., Wilmington, DE 19808. Cert. of LP County. SSNY designated as agent of designated as agent of LLC upon Purpose: any lawful act. Meridian Blvd, Ste H, Minden, NV, LLC upon whom process against it whom process against it may be 89423 The principal business address on file: SSDE, Townsend Bldg., Dover, JMD BUILDING PRODUCTS LLC, DE 19901. Name/addr. of each gen. ptr. may be served. SSNY shall mail process served. SSNY shall mail process to of the LLC is: New York Purpose: any to: c/o Texwood Investment Inc., 850 the LLC, 520 Madison Ave., 32nd Fl., Arts. of Org. filed with the SSNY on lawful act or activity. avail. at SSNY. Purp: any lawful activities. 02/26/2015. Office loc: NY County. Seventh Avenue, New York, NY NY, NY 10022. DE addr. of LLC: c/o 10019. Purpose: any lawful activity. The Corporation Trust Co., 1209 SSNY has been designated as agent Notice of Qualification of Hudson + Notice of Formation of Shuster Orange St., Wilmington, DE 19801. upon whom process against the LLC East Management, LLC. Authority Metropolitan LLC, Art. of Org. filed with may be served. SSNY shall mail filed with NY Dept. of State on Sec’y of State (SSNY) 10/21/14. Office Notice of Formation of DIYA REAL Cert. of Form. filed with DE Secy. of HOLDINGS, LLC Arts. of Org. filed State, Div. of Corps., John G. Townsend process to: The LLC, 15 William 2/18/15. Office location: NY County. loc.: NY County. SSNY designated as Street, #20E, NY, NY 10005-2942. LLC formed in DE on 2/2/15. NY agent of LLC upon whom process with Secy. of State of NY (SSNY) on Bldg., 401 Federal St., Ste. 4, Dover, 02/11/15. Office location: NY County. DE 19901. Purpose: Any lawful activity. Purpose: Any Lawful Purpose. Sec. of State designated agent of against it may be served. SSNY shall LLC upon whom process against it mail copy of proc. to Brach Eichler, SSNY designated as agent of LLC Notice of Qualification of 21-25 West Notice of Qual. of SOHO AOA Mezz, may be served and shall mail Att: Samantha Karni, 101 Eisenhower upon whom process against it may 34th Air Rights Owner LLC. Authority LLC, Auth. filed Sec’y of State (SSNY) process to the principal business Pkwy., Roseland, NJ 07068. Purp.: be served. SSNY shall mail process filed with NY Dept. of State on 3/3/15. 12/9/14. Office loc: NY County. LLC address: 767 Fifth Ave., 12th Fl., NY, any lawful activities. to Corporation Service Co., 80 State Office location: NY County. LLC formed org. in DE 10/22/14. SSNY desig. as NY 10153, Attn: Joseph Kusnan. DE St., Albany, NY 12207-2543. in DE on 12/5/13. NY Sec. of State agent of LLC upon whom proc. against address of LLC: 1209 Orange St., 40 RECTOR 1000, LLC, a domestic Purpose: Any lawful activity. designated agent of LLC upon whom it may be served. SSNY shall mail Wilmington, DE 19801. DE Sec. of LLC, filed with the SSNY on 2/17/15. copy of proc. to Stellar Mgmt., 156 State, 401 Federal St., Dover, DE Office location: New York County. Notice of Qual. of Purves Street process against it may be served and Development LLC, Auth. filed Sec’y shall mail process to: National Registered William St., NY, NY 10038. DE office 19901. Purpose: all lawful purposes. SSNY is designated as agent upon addr.: 160 Greentree Dr., Ste. 101, whom process against the LLC may of State (SSNY) on 8/19/14. Office loc: Agents, Inc. (NRAI), 111 8th Ave., NY, NY County. LLC org. in DE 7/28/14. NY 10011. DE address of LLC: NRAI, Dover, DE 19904. Cert. of Form. on Notice of Qualification of EAST be served. SSNY shall mail process file: SSDE, Townsend Bldg., Dover, MEADOW CAPITAL FUND, LP. Appl. to Language Studies International, SSNY desig. as agent of LLC upon whom 160 Greentree Dr., Ste. 101, Dover, proc. against it may be served. SSNY DE 19904. Cert. of Form. filed with DE DE 19901. Purp: any lawful activities. for Auth. filed with Secy. of State of NY Attn: CFO, 1706 5th Ave., San (SSNY) on 02/19/15. Office location: Diego, CA 92101. General Purposes. shall mail copy of proc. to NRAI, 111 Sec. of State, 401 Federal St., Dover, DE Eighth Ave., NY, NY 10011, the Reg. 19901. Purpose: all lawful purposes. Notice of Qualification of STRATEGIC NY County. LP formed in Delaware (DE) PARTNERS NC REAL ASSET on 02/03/15. Princ. office of LP: 30 W. Notice of Qualification of AS ST. Agt. upon whom proc. may be served. DEFIANT REALTY LLC, Arts. of Org. OPPORTUNITIES (OVERAGE), 61st St., #19A, NY, NY 10023. SSNY CLAIRE LLC Appl. for Auth. filed with DE office addr.: 160 Greentree Dr., Ste. filed with the SSNY on 11/19/2014. L.P. Appl. for Auth. filed with Secy. of designated as agent of LP upon whom Secy. of State of NY (SSNY) on 101, Dover, DE 19904. Cert. of Form. Office loc: NY County. SSNY has been State of NY (SSNY) on 02/26/15. process against it may be served. SSNY 02/23/15. Office location: NY County. on file: SSDE, Townsend Bldg., Dover, designated as agent upon whom Office location: NY County. LP formed shall mail process to the Partnership LLC formed in Delaware (DE) on DE 19901. Purp: any lawful activities. process against the LLC may be served. in Delaware (DE) on 09/25/14. SSNY at the princ. office of the LP. The regd. 08/24/11. Princ. office of LLC: 430 SSNY shall mail process to: Daniel designated as agent of LP upon whom agent of the company upon whom Park Ave., Ste. 505, NY, NY 10022. Notice of Qual. of NCKID Driggs, LLC, Janow, 11 Maiden Ln. #12E, NY, NY process against it may be served. and at which process against the SSNY designated as agent of LLC Auth. filed Sec’y of State (SSNY) on 10038. Purpose: Any Lawful Purpose. SSNY shall mail process to the DE company can be served is Stefan upon whom process against it may be 6/24/14. Office loc: NY County. LLC addr. of the LP: c/o Corporation Brundobler, 30 W. 61st St., #19A, NY, served. SSNY shall mail process to c/o org. in DE 6/19/14. SSNY desig. as DARK HORSE CREATIVE LLC, a Service Co. (CSC), 2711 Centerville NY 10023. Name and addr. of each Corporation Service Co. (CSC), 80 State agent of LLC upon whom proc. against domestic LLC, filed with the SSNY Rd., Ste. 400, Wilmington, DE 19808. general partner are available from St., Albany, NY 12207-2543. DE addr. it may be served. SSNY shall mail copy on 2/18/15. Office location: New York Name and addr. of each general SSNY. DE addr. of LP: 2711 of LLC: CSC, 2711 Centerville Rd., Ste. of proc. to Siegel & Reiner, Att: Irwin County. SSNY is designated as agent partner are available from SSNY. Cert. Centerville Rd., Ste. 400, Wilmington, 400, Wilmington, DE 19808. Cert. of Siegel, 900 Third Ave., NY, NY 10022. upon whom process against the LLC of LP filed with Secy. of State of the DE 19808. Cert. of LP filed with Form. filed with Secy. of State, State of DE office addr.: 160 Greentree Dr., Ste. may be served. SSNY shall mail State of DE, John G. Townsend Bldg., Secy. of State of the State f DE, 401 DE-Div. of Corps., John Townsend 101, Dover, DE 19904. Cert. of Form. process to The LLC, 321 W. 103rd St., 401 Federal St., Ste. 4, Dover, DE Federal St., Dover, DE 19901. Bldg., 401 Federal St., Ste. 4, Dover, DE on file: SSDE, Townsend Bldg., Dover, #2B, NY, NY 10025. General Purposes. 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity. DE 19901. Purp: any lawful activities.

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March 30, 2015 | Crain’s New York Business | 37 20150330-NEWS--0038-NAT-CCI-CN_-- 3/27/2015 3:01 PM Page 1

IN THE BOROUGHS MANHATTAN Downtown’s growing pains Continued from Page 4 Much of that growth has come in been advanced to do just that. Ms. town’s population explosion has the ranks of those 19 years old and Chin wants the city to require that overtaxed a host of city services. As younger. In just the first decade of large new residential buildings in- developers race to add still the millennium, a study clude trash compactors and recy- more condominiums in the commissioned by Com- cling facilities.The alliance has been area, residents’ concerns 14K munity Board 1 found, in ongoing talks with the Depart- DOWNTOWN about having enough school residential their numbers soared by ment of Sanitation as well, accord- seats and parks for their population 246%. ing to President Jessica Lappin (See children are mounting. in 1990 Meanwhile, about 40 Under 40, Page 24). 1,300 new seats in area Meanwhile, the alliance is doing A 24/7 problem schools have been added its bit to make downtown more liv- Meanwhile, basic serv- 62K since 2001, CB1’s Youth able by compiling and distributing a DOWNTOWN ices like weekly street residential and Education Commit- guide to neighborhood amenities, cleaning and trash pickups, population in 2014 tee found. An additional including restaurants and retailers, simple in an era when the 750 elementary-school and by orchestrating the debut of area was primarily a 9-to-5 seats and 378 pre-K slots two farmers’ markets last year. commercial district, now 3.7K are in the pipeline for the “We need to keep pushing,” Ms. need to be rethought as lit- RESIDENTIAL fall. The Department of Lappin said, noting the dramatic units in the ter becomes a 24/7 prob- Education did not re- changes in the area.

pipeline buck ennis lem. Many groups—in- Sources: Alliance for spond to a request for In early March, CB1 did just WASTE LINE: As downtown’s population has grown, the problem of garbage pickup and street cluding the Lower Downtown New York, CB1 comment. that. Citing an urgent and immedi- cleaning has become more acute. Manhattan School Over- In many ways, down- ate need, the board asked the city’s crowding Task Force created by for- town’s public-infrastructure prob- budgeting department to fund the mer state Assembly Speaker Shel- lems mirror those of other growing addition of 1,000 school seats in the Similarly, a massive, $200 mil- 200,000 square feet of retail, in- don Silver, who still represents the residential areas such as downtown neighborhood. Meanwhile, some lion revamp of the 60-story office cluding grocery stores. Those district in Albany—are in talks with Brooklyn and Dumbo. developers are answering the call tower formerly known as 1 Chase changes have already been put to the city to improve conditions. “There is a new type of worker from residents for more open space Manhattan Plaza is expected to in- the city’s Landmarks Commission “On garbage pickup day, the who wants to live and work in the and classroom seating. Near the clude a reimagined 62,000-square- for approval. sidewalks are filled up with bags and same area.[We’ve seen that] in low- South Street Seaport, a proposed foot open plaza with added trees, Residents said more people- bags of garbage,”said City Council- er Manhattan,” said Catherine 42-story, 150-unit apartment tower seating and artwork. The project, friendly amenities from parks to woman Margaret Chin, who has Hughes,a 26-year downtown veter- from Howard Hughes Corp. at Pier proposed by the new, China-based schools can’t come soon enough. lived in the area for 28 years and re- an who chairs CB1. She noted that 17 includes rooftop event space and owner of what will be rechristened “We need more balanced urban cently told Crain’s the piles of trash historic swaths of London are also a middle school. as 28 Liberty, will also feature planning,” said Mr. Zelter. Ⅲ often exceed her own (4-foot-11) chockablock with small, curving height. “You can’t pass—people lit- streets, but theirs are free of litter. Plazas, please erally have to walk in the street.” “The city has an opportunity to And just down the shoreline, a Driving these concerns is down- learn from London on how [sanita- rehabbed two-story Pier 15 opened Techies out to lunch town’s residential population,which tion] can be improved in lower four years ago with 50,000 square nearly tripled in the past 15 years, to Manhattan and in the rest of the feet of space, including outdoor 62,000 in 2014,according to the Al- city.” seating and a popular observation Continued from Page 7 For example, two months ago Peter liance for Downtown New York. Already, a number of ideas have deck. with the city’s startup culture. Jere- Darrow opened Darrow’s Farm my Lyman and Paul Schlader Fresh Takeout, which serves food opened their first Birch Coffee in largely made from ingredients the Flatiron district in 2009, before sourced from the nearby Union the immediate area was awash in Square Greenmarket. Customers technology companies.But as an in- can order and pay for their meals on creasing number of tech enterprises iPads placed on tables during lunch. moved to its neighborhood on the “We’re trying to be the restau- northern end of the Flatiron dis- rant of the future,”Mr.Darrow said. trict, employees of startups includ- These eateries have benefited ing Birchbox and coding school from their customers’ tech know- General Assembly began flocking how in other ways as well. Mr. Wo- to drink brews like Birch Blend, a los recently adopted a logistics soft- Fair Trade organic coffee. ware system sold by a company in the neighborhood whose workers ‘Restaurant of the future’ frequent his restaurant. “We got lucky,”said Mr. Lyman, “We’ve reduced to 15 minutes whose 35-employee company has something that used to take three $1 million to $3 million in revenue hours,” he said. and is profitable. As for Mr. Lyman, one technol- Being around startups seems to ogy company CEO recently advised have rubbed off on Birch Coffee, him to hire a specialist to help redo whose website declares, “Coffee is Birch Coffee’s website to improve our platform.” The partners have the user experience. Mr. Lyman since opened shops in three other then promptly found a candidate Manhattan neighborhoods, as well through a referral from another as a coffee-roasting facility in Long customer. Ⅲ Island City, Queens. To heighten their appeal with a To sign up for Crain’s digitally savvy crowd, some gather- SMALL BUSINESS newsletter, go to ing spots have also made the cus- www.crainsnewyork.com/smallbiz. tomer experience more high-tech.

BAR & BAT MITZVAHS LECTURES APELLA™, EVENT SPACE AT CORRECTIONS ALEXANDRIA CENTER™ BOARD MEETINGS LOCATION SHOOTS ReadNYC is United Way’s project to get children to read at grade level. The project’s name was CELEBRATIONS MULTIMEDIA 450 EAST 29TH STREET misstated in the March 23 Snaps. COCKTAIL RECEPTIONS PRESENTATIONS 2ND FLOOR CONFERENCES PRESS CONFERENCES NEW YORK, NY 10016 Brooklyn Law School and New York Law School have two-year J.D. programs. St. John’s University Law DINNERS PRODUCT LAUNCHES TEL 212.706.4100 School does not. These facts were misstated in the March 23 “Shrinking law schools struggle for FASHION SHOWS WEDDINGS [email protected] relevance.” HOLIDAY PARTIES WWW.APELLA.COM Co-op City is in the 82nd Assembly District. This fact was misstated in the March 16 “Mr. Heastie’s neighborhood.” Christopher Barriteau joined real estate development company Hirschfeld Properties as executive vice president. His surname was misspelled in the March 16 Executive Moves.

38 | Crain’s New York Business | March 30, 2015 20150330-NEWS--0039-NAT-CCI-CN_-- 3/27/2015 7:55 PM Page 1

Viacom, TV biz face upheaval Crain’s wins

Continued from Page 3 it any less true). Recently, Viacom omy was not in recession. to this since the advent of cable TV Chief Executive Philippe Dauman Way back then, industry execu- four awards in the ’80s.This is cable on steroids.” (pictured) has been more conciliato- tives refused to accept that compe- Viacom, which has seen a 9% ry, saying that Nielsen was “starting tition from digital media had any- drop in earnings for two quarters in to improve.” thing to do with the shortfall—a Newspaper, website 40 Under 40 feature; and a confer- a row,is hardly the only programmer The ratings giant introduced mo- position from which they have ence exploring the “Business of Pot” that’s suffering. There have been bile TV ratings in September; it re- backed away as the TV ad market honored for overall and the emerging opportunities in layoffs and consolidation at has continued to disappoint. Wise New York as the state prepares to le- NBCUniversal’s cable channels, as decision: “I think we’re going to see editorial excellence galize medical marijuana. well as at Fox Networks and Scripps more of the same,” said Catherine Other awards were: and best single issue ⅷ Networks. Late last year, Time Warburton,chief investment officer Best single issue of a Warner’s Turner Broadcasting cut at media buying agency Assembly, tabloid/newspaper for the Oct. 13, nearly 1,500 jobs. of this year’s upfronts. “Advertisers Crain’s New York Business scored 2014, issue, featuring the 50 fastest- will continue to move dollars out- four wins at the 61st annual Jesse H. growing companies in New York $250M savings side of linear TV and look at other Neal National Business Journalism ⅷ Best use of mobile for the But Viacom stands out partly be- opportunities.” Awards luncheon last week. Crain’s New York app for iPad (the cause of its singular exposure to the Or they won’t. In a sure sign that The award ceremony, which second year Crain’s has won) youth market, where viewing habits a secular disruption is underway, in- honors the best in business-to- ⅷ Best cross-platform package are changing faster than anywhere siders and informed observers can’t business journalism,was held at Pier for the annual Stats and the City else. The cuts have also brought an agree on the industry’s prospects. 60 on the West Side. feature in print and online end to an era. MTV Networks chief Consider the go-to source for statis- Crain’s New York won best media Crain’s was also a finalist for the Van Toffler, who resigned in Febru- tics, research firm eMarketer, which brand/overall editorial excellence Grand Neal Award, given to the ary shortly before the restructuring is forecasting steady single-digit for a mix of stories and projects that best single entry of the year. was announced, was the last execu- growth for television advertising the judges described as a “perfect The newspaper was a finalist in tive at the company with ties to its through 2019, with revenue increas- blend of stories and voices.” The six other categories, including best 1980s heyday as a music channel. ing 3% this year, to $70.59 billion. entry included the Nov. 17, 2014, website, best use of video, best news The restructuring—which has bloomberg news (The firm expects digital video to issue, with the cover story “The story and best news coverage. combined MTV and VH1 with spike 34%, to $7.8 billion, but says TransPerfect Storm,” on a compa- Crain’s Editor-at-Large Glenn Spike and Comedy Central under Viacom CEO growth will cool to just 12% by 2019.) ny’s co-founders at war with each Coleman also was awarded the 2015 Doug Herzog, and TV Land and One eMarketer exec acknowl- other; samples from The Insider McAllister Fellowship in May at CMT under Nickelodeon chief Philippe Dauman edges that this growth scenario politics blog; the 200 Most Con- Northwestern University’s Medill Cyma Zargami—should result in could very well be a case of the re- nected New Yorkers list; the annual School of Journalism. Ⅲ $250 million in annual savings.MTV says Nielsen search lagging events. “We may be is reportedly losing 12% of its staff,in- in a period where what you’re seeing cluding “a lot of people who worked is starting is the numbers not having caught up for Van for a really long time,”said one to reality,” said senior analyst Paul Giant Ford dealership former Viacom executive. to improve Verna. “It could also be there’s The 264 staff cuts, which were lumpiness in these trends, and TV posted by the state’s Department of advertising may rebound.” could sell for $230M Labor last week, were only for New York and will be completed by July A good bet? 1.According to a report in Advertis- quires additional software, which On Wall Street, meanwhile, in 2008. ing Age that Viacom would not con- may explain its slow adoption. some analysts still see Viacom as a That’s triple what The neighborhood, north of firm, the company could be cutting Nielsen this year will also beef up its good bet, especially now that it’s the carmaker paid Hudson Yards and west of Colum- as much as 10% of its nearly 10,000- methodology for measuring TV trading about 20% below where it bus Circle, has changed in recent person payroll. viewing on personal computers. But was a year ago. to buy and renovate years with a huge uptick in residen- That should come as no surprise Nielsen execs have attributed recent “It’s absolutely true there are it 18 years ago tial construction. Nearby, the to anyone following the ratings: ratings declines at least partly to a risks to Viacom,”said Brian Wieser, Durst Organization, in partner- Through March 8 of this year, shift in viewing to properties that senior analyst with Pivotal Research ship with residential builder Fet- MTV’s prime-time audience of 18- aren’t included in traditional TV rat- Group. “But that doesn’t mean it BY DANIEL GEIGER ner, is finishing a pyramid-shaped to 49-year-olds was down 27%, ings, such as Netflix, Hulu and can’t rebound.” Mr. Wieser, who apartment tower. TF Cornerstone compared with the same period a YouTube. And, of course, new plat- rates the stock a “buy,” believes the Ford Motor Co. has put a building is planning one of the city’s biggest year ago. The daytime audience for forms for video are siphoning young key will be stronger programming on the far West Side on the market residential buildings at the corner Nickelodeon, Viacom’s biggest rev- viewers away from TV every day. and better measurement of mobile in a sale that could fetch $230 mil- of West 57th Street and 11th Av- enue generator, was down 20%, ac- Viacom’s own data, however, viewing. lion or more. enue, two blocks away from Ford’s cording to Nielsen. Both channels show that it has “significant addition- Viacom’s Mr. Dauman, of The price tag for the property,787 West Side property. were down more than 30% from two al viewership that Nielsen doesn’t course, couldn’t agree more. 11th Ave. between West 54th and The surge in residents is prompt- years ago.( Jon Stewart’s coming de- track,” a spokesman said. “We have strong new program- West 55th streets, is more than triple ing developers to buy and refurbish parture from Comedy Central’s It’s not clear how television’s rat- ming coming as the year progress- what Ford paid to Daily Show only adds to the bad ings troubles will play out in this es,” he told analysts in March, buy and renovate it in news.) year’s “upfronts,”the marketplace in avoiding becoming the first televi- 1997. The company Viacom has periodically blamed which media buyers and the cable sion executive in history to admit to has hired a team from Nielsen for the drop-offs,saying the and broadcast networks negotiate a slate of weak programming. CBRE, led by bro- ratings giant hasn’t moved quickly prime-time ad commitments for A slightly more reliable reason kers Darcy Stacom enough to expand measurement to next year’s shows. Last year, those for his optimism may be the launch and Bill Shanahan,to mobile viewing—a line of attack commitments slid 6%, to about $18 of Noggin,a subscription streaming shop the eight-story, that is sometimes seen as blaming billion, marking the first time in- video service for kids. And share- 464,000-square-foot the messenger (which doesn’t make vestment had fallen when the econ- holders might be pleased by last building to prospec- week’s rumor that Viacom would tive buyers and han- buy comedy website Funny or Die, dle its auction. which would be added to MTV’s A representative digital properties. from Ford did not In the end, the networks that immediately re- stay ahead of the digital curve—or spond to a request for comment. office space that could cater to the at least keep pace with it—will have The automaker currently uses growing workforce in the area, a the best shot at thriving as the view- the building—which has internal possible fate for the Ford building. ing habits of their audiences con- ramps that allow vehicles to drive to The property could also be attrac- tinue to change. each floor, including the roof—as a tive to an academic institution. Just “At MTV, they make television service center for Ford vehicles and up the street, John Jay College re- series for a generation that watches its sister brand Lincoln. cently built a $600 million, 13- less television than any generation The ground-floor retail space is story tower. that’s preceded it in a very long occupied by dealerships for Jaguar The retail space at 787 11th Ave., time,” said Ian Schafer, CEO of in- and Land Rover, carmakers that which will be emptied when Ford

mtv.com teractive marketing agency Deep Ford owned when it opened the lo- vacates the property,could be leased MTV has turned to series like Teen Wolf to pump up ratings, but its problems are bigger than any Focus.“The runway’s getting short- cation nearly two decades ago.Ford to a car dealership or, because of its one show can fix. er on what they can do.” Ⅲ sold both to Indian carmaker Tata large size, a big-box store. Ⅲ

March 30, 2015 | Crain’s New York Business | 39 20150330-NEWS--0040-NAT-CCI-CN_-- 3/27/2015 7:12 PM Page 1

REAL ESTATE

rate and affordable housing during Brooklyn. The company has a store the next decade. Many business on Franklin Street in TriBeCa. Like Air rights key to Pier 40 rehab owners say the mayor’s plan, a hotel that location, the new one will fea- boom and other commercial venture a café operated by the Smile. tures are driving up rents and land David Beare, an executive at anticipated. prices in manufacturing zones. Midtown Equities,the real estate in- “The timing has been slower The councilman said his plan is vestment firm that won a bid in 2013 than we would like on this,” said unlikely to encounter resistance to lease and redevelop the 150-year- Madelyn Wils, president of the within the proposed area, if only be- old brick warehouse, said that Shi- trust. cause there are “not many things nola’s brand and products fit in with The trust is working with the city happening there right now.”In addi- both the building and Brooklyn. to create a special zoning district tion to the rail yard, it has a beer dis- “We love the fact that everything that will allow the air-rights trans- tributor, a supermarket and a hand- they sell is handmade in America,” fer between Pier 40 and the termi- ful of nightlife lounges and Mr. Beare said. “Bringing a compa- nal building—though air rights restaurants. ny like this to Brooklyn is extreme- over six more piers in the park are “No one has to be displaced from ly exciting. We feel they’re going to also being eyed for sales. But before the area,” Mr. Rodríguez said. “It become a major brand.” that process can advance, the devel- can be a win-win situation.” Mr. Beare represented the land- oper’s plans for the project need to —andrew j. hawkins lord in-house in the 10-year deal. be finalized and begin the journey Michael Hirschfeld, a retail broker through the rigorous and lengthy Another eatery is with Jones Lang LaSalle, represent-

buck ennis public-review process.“It was antic- ed Shinola. ipated that the project would have slated for the LES In addition to the watch collec- epairs to the crumbling Pier 40 at Hudson River Park will cost more already been out in the public by this tion, Mr. Beare said, the space will than $104 million and take nearly 10 years to carry out, accord- time,” Ms. Wils said. John Lamb, a farm-to-table restau- showcase other products that Shino- ing to estimates in an engineering report completed in March The city said it is working on cre- rant, is the latest venture from la has expanded into, including and reviewed by Crain’s.The report, which was commissioned ative solutions to address the repairs Joseph Valentine, who had owned high-end handmade bicycles and by the Hudson River Park Trust, a public-benefit corporation at Pier 40, while the development Hell’s Kitchen’s FireBird before it apparel. Rthat operates and maintains the park, revealed that more than half of the team said it is still working with sev- closed last summer. Mr. Valentine With the opening of Brooklyn piles that hold up the approximately 14-acre pier are damaged,and that work eral stakeholders to finalize its had tried to open his new eatery at Bridge Park, which abuts Empire to shore up more than 1,000 of the most vulnerable supports should begin plans, which will likely include a se- 119 Essex St., and in the fall even ap- Stores, Dumbo’s waterfront has be- ries of buildings and a hotel. peared before Community Board 3 come an increasingly popular desti- immediately. The projected cost, ing Atlas Capital Group, which A November report in DNAinfo in an attempt to obtain a liquor li- nation. Retailers are taking notice. which has been expected for owns the St. John’s Terminal Build- showed that the first phase of the cense. But that deal fell through. Mr. Beare said that most of Empire months, is slightly more than the ing across the street and wants to team’s alteration of the St. John’s Mr. Valentine is now moving two Stores’ 75,000 square feet of retail $100 million figure that the trust transform the 1.3 million-square- Terminal would contain 450,000 blocks away, having recently signed a space is now spoken for. He is in the had originally estimated. foot structure that spans several square feet of condos and 100,000 10-year deal for 1,500 square feet at process of finishing about 20,000 To fund the project, the trust is blocks into a massive mixed-use square feet of retail, along with af- 119 Orchard St., between Delancey square feet of deals, including a yet- looking to sell air rights above the development.That deal,however,is fordable housing for seniors. and Rivington streets. The asking to-be-announced 9,500-square-foot pier to a development team includ- taking longer than the trust had —joe anuta rent was $120 a square foot. John food market and a 10,000-square- Lamb will set up at the base of a 10- foot restaurant. Only about 7,000 story boutique hotel that is scheduled square feet of retail space remains Chelsea Hotels Chelsea Hotels eventually settled sio’s plan to build housing at Sun- to open later this year. The eatery is available. that suit after Mr.Chetrit sold his in- nyside Yard. expected to serve alcohol. “We started with asking rents of looking to sell terest in the property, and reached a The mayor’s office insists that The once-gritty Lower East Side $150 per square foot but have since deal to accommodate the tenants despite the governor’s reticence, it has been gradually becoming a trendy bumped that to $200 per square foot Chelsea Hotels is putting at least there while renovation proceeded. continues to talk to the MTA about and pricey area as retailers,restaurants because of the activity and interest,” two of its properties up for sale, —daniel geiger Sunnyside. A feasibility study was and hotels replace the fabric shops Mr.Beare said.“The rates we’re get- stoking speculation that the compa- ordered in February to determine and food makers of earlier days.Even ting are much higher than we ex- ny plans to divest itself of its entire the cost of the massive project. The longtime Rivington Street business pected.” New York portfolio. Its holdings in- Inwood rail yard economics of affordable housing are Streit’s Matzos Above its clude the storied, red-brick Hotel development ? already challenging without the ad- is abandoning retail, Empire Chelsea on West 23rd Street, which ditional expense of building over an the area for New Stores will fea- a long list of artists, rock stars and A little more than a month after active rail yard, experts say. Jersey, after nine ture 380,000 writers have called home. Mayor Bill de Blasio announced an The 207th Street Yard serves the decades.The In- square feet of The company, formerly known ambitious (and surely expensive) A and 1 trains.It also stores cars that digo Hotel re- high-end of- as King & Grove, has put the 261- plan to build 70,000 apartments on are being retired and either being cently opened fice space that room Martha Washington Hotel on East top of the Sunnyside Yard in scrapped or restored for the New on Ludlow is being mar- 29th Street and the McCarren Hotel & Queens,a Manhattan councilman is York Transit Museum. Street, down the keted by a Pool in Williamsburg on the market. eyeing another active rail yard for A spokesman for the mayor said block from the Jones Lang The company hired sales broker- housing construction. of the Inwood proposal, “We ap- planned second LaSalle team age firm Eastdil Secured to handle Councilman Ydanis Rodríguez plaud [council member] Rod- outpost of the EMPIRE STORES in Brooklyn’s Dumbo led by brokers the deals. A spokeswoman for proposed to rezone a 100-acre “man- ríguez’s leadership.We look forward Soho House. Scott Panzer Chelsea Hotels did not immediate- ufacturing area” in the northern to working with his office and the John Lamb is and Howard ly return a call seeking comment. Manhattan neighborhood of In- community to bring much-needed “a great and exciting addition to the Hersch.According to the team,ma- Although the city’s hotel market wood and transform it into a “tech- affordable housing and economic- happening Lower East Side restau- jor tech firms in the city and from has surged in recent years, Chelsea nology community,” complete with development opportunities to this rant scene,” said Julia Maksimova, around the country and world have Hotels has struggled and suffered set- residential, commercial and retail vibrant neighborhood.” the Keller Williams NYC broker been considering the space,which is backs. For instance, earlier this year, development. A spokesman for the MTA de- who represented landlord 119 Or- seeking rents in the $80s per square the much-heralded restaurant the He would put most of the hous- clined to comment. chard Property Inc. in negotiations. foot, the highest office rents ever in Elm, which was operated by star chef ing above the Metropolitan Trans- Inwood, perched on the north- Gui Tepedino, the Roberta Brooklyn. However, tenants who Paul Liebrandt at the McCarren Ho- portation Authority’s 207th Street ernmost tip of Manhattan, isn’t on Panos Inc. broker who represented are new to the borough can offset tel & Pool,closed—an indication that Yard. Mr.de Blasio’s list of neighborhoods Mr. Valentine, did not return calls the high rent with city subsidies. the property did not make the cultur- Decking over an active rail yard to rezone for denser, taller housing. requesting comment. The space offers a combination of al splash the company was hoping for is an expensive proposition; at But Mr. Rodríguez is undeterred. —adrianne pasquarelli brick and wood, which is being pre- in the trendy neighborhood. Hudson Yards it is costing $700 “Imagine having our very own mar- served and restored from the ware- More than a year ago, the compa- million. But, Mr. Rodríguez said, ketplace for technological innova- house, and glass, which is being in- ny also appeared to split acrimo- some of the expense could be de- tions, creating an environment that Shinola is opening stalled atop the building, creating niously from large New York City frayed if the MTA would sell its air will attract advanced research and a Dumbo store two new levels of office space. The landlord Joseph Chetrit, who co- rights to the city. partners such as Google, Apple or conversion is set to be finished in owned several properties with the “If the city is able to work with Facebook,” he said. “Yes! We will Detroit-based watchmaker Shinola early 2016. West Elm became the firm, including the Hotel Chelsea. the MTA and build above the rail make this dream a reality.” is taking nearly 5,000 square feet of building’s anchor tenant last year, Rent-stabilized tenants at the Hotel yard, it will help us to bring more Mr. Rodríguez’s plan may also space at Empire Stores, a former coffee signing a deal for 135,000 square Chelsea sued the company, which revenue for transportation,” he said. encounter opposition from manu- warehouse that is being converted feet, including 12,500 square feet of was converting its crown-jewel prop- Any proposal to build above the facturing and industrial businesses, into a state-of-the-art office building ground-floor retail space for the fur- erty into a boutique hotel, alleging 207th Street Yard would have to go which are increasingly feeling with ground-floor retail space. niture and home-goods company’s that the firm and Mr. Chetrit had through Gov. Andrew Cuomo, pinched by Mr. de Blasio’s crusade The new location will be Shino- new flagship store in the city. tried to push them out. who already dismissed Mr. de Bla- to build 240,000 units of market- la’s second in the city and first in —daniel geiger

40 | Crain’s New York Business | March 30, 2015 20150330-NEWS--0041-NAT-CCI-CN_-- 3/27/2015 6:39 PM Page 1

REAL ESTATE CONFERENCE What we learned at our latest real estate forum Of all the events Crain’s produces, we he stars at our gathering included some of the city’s top policy, real estate and restaurant leaders, who participated in a series of panels and speeches. They were (listed alphabetically): Josh Barro, New York Times reporter; Rohini Dey, think our real estate confabs generate the founder of restaurant Vermilion; Wylie Dufresne, the restaurateur who created wd-50; Georgette Farkas of Rotisserie liveliest discussions. The packed house at Georgette; Lisa Gomez, chief operating officer of L+M Development; Jimmy Haber, CEO of East Square Hospitality our most recent gathering at the New and BLT Steaks; Seth Pinsky, executive VP of RXR Realty; Steve Spinola, president of the Real Estate Board of New York Athletic Club would doubtless agree. TYork; and Carl Weisbrod, chairman of New York City’s Planning Commission. Comments were edited for space.

Haber Dey Farkas Dufresne Gomez Weisbrod buck ennis

THE ANSWER TO NYC’S HOUSING CRISIS? LONG ISLAND! (OR NOT) Mr. Pinsky: The suburban community has been resistant to development. I think we as a region need to help those communities overcome that resistance. You are starting to see it in places like New Rochelle or Hempstead or Yonkers. We need to see more of that in the region because that has to be part the solution. Mr. Spinola: I have concerns over that solution. I’m not saying it shouldn’t be done, but I live on Long Island. Not only has that been suggested before, but there is a lawsuit to stop it. It’s not a simple process in Long Island, New Jersey, Westchester. There is the cost of transporting people to and from New York City. Ms. Gomez: You never think you like it here until you try to do something outside of the city, and I have. It is an overlapping jurisdiction of cities and counties and towns, but not a lot of objectives. You also have towns that are vehemently opposing affordable housing, and I think you are also underestimating the tax burden, particularly if you talk about homeownership. People don’t want to move to the suburbs to live in an apartment; they want a house and a yard.

IN DEFENSE OF BUILDING APARTMENT TOWERS DEVELOPERS WILL HAVE TO DEVELOP Mr. Weisbrod: We don’t have an ability in New York to expand outward; MR. WEISBROD: One size can’t fit all in the city. There are different neighborhoods, different econom- only upward.The point we are making to neighborhoods is we want to ics. There are very strong markets where it’s relatively easy to provide mandatory inclusionary housing, develop in a way that does not produce significant residential displace- and there are weak markets where we know housing will have to be driven by subsidies. We recognize if ment; we want to develop in a way that provides the public investments we are overly aggressive, we’re not going to see any housing. If we are not aggressive enough, we are not that must accompany increased density. going to get the benefit of our bargaining. Ms. Gomez: I would add that all density is not created equal. If I could I should also say the major goal of mandatory inclusionary housing is to promote economic diversi- build an eight-story tower in East New York, I’m not sure I would be- ty and help neighborhoods thrive. It’s not just to produce affordable housing. That will be driven largely cause the costs grow as you grow taller.That works,you know,when you by the affordable-housing plan subsidies and other factors, but it’s to promote economic diversity are selling luxury condos. You can sort of add on a zero and make the throughout the city because we think economically diverse neighborhoods are healthy neighborhoods. problem go away. With middle-income housing, it doesn’t work.

TOO MANY RESTAURANTS, NOT ENOUGH COOKS Mr. Dufresne: There’s something like 24,000 restaurants in New York City. There were 17,000 when I started. OF LANDLORDS, LEASES AND OTHER Ms. Farkas: And because there is such a huge proliferation of restaurants, it’s challenging to find that tal- TALES OF WOE ent in the kitchen. There is only so much you can pay. Mr. Haber: Not only for cooks, it’s general managers, assistant managers. The proliferation of hotels is a MR. HABER: Rising real estate costs? I’ll give you a real-life situation. The factor: Historically, hotels looked at food and beverage as a cost of doing business; now everybody is lease for our original BLT Steaks on 57th Street and Park Avenue came looking at it as revenue. So they are attracting talent as well. up for renewal. There was a mediation. Our rent tripled the very last month Mr. Dufresne: We talk about cooks,yet we are not talking about rents for cooks. I have one cook who lives of the lease—and we had won. That was “winning.” in an apartment with eight people, so that she can work with me. That’s a level of commitment that’s MS. DEY: You are competing against every other offer to use the beyond admirable. It’s easier in Chicago; it’s easier in other cities. There are cities all over the country space. Whether it’s retail or banking, we have to wake up. that are cheaper to live in and that offer the same quality of culinary education. MR. HABER: Or go up—explore vertical retail, get off the ground floor. MS. FARKAS: Look at [Ralph Lauren’s] Polo Bar restaurant: It’s in the basement. MR. DUFRESNE: There was a second-floor space on Greenwich Street on the market six weeks ago: $8,000 a month. But I just thought that going up a floor, we New Yorkers are not used to that; it’s scary. You lose your outdoor signs and the awnings you hang on the building, which you need to bring people in. MS. DEY: I have a Vermilion in Chicago, and a Vermilion in New York. The one in New York is 14,000 square feet on Park Avenue. Finding the location was the most challenging piece of the puzzle for me. It wasn’t the financing, it wasn’t the chef. I spent six months looking in this case. MS. FARKAS: My best advice is to go where the landlord really, really wants you. If you are begging them, then you are starting off on the wrong foot. Barro Pinsky Spinola

March 30, 2015 | Crain’s New York Business | 41 20150330-NEWS--0042-NAT-CCI-CN_-- 3/27/2015 8:03 PM Page 1

SNAPS Kelly Cares Foundation honors Steven McDonald and family In 1986, Detective Steven McDonald was left a quadriplegic after being shot by a 15-year-old. He forgave his assailant and has been speaking out against gun vio- lence and the importance of for- giveness ever since. That’s why he and his family were honored by the Kelly Cares Foundation. Notre Dame football coach Brian Kelly and his wife, Paqui, launched the group, which supports organizations and programs working toward improvements in health and education. KELLEY TUTHILL, a Boston TV reporter and breast-cancer survivor, MYRA BIBLOWIT, president of the Breast Cancer Research Foundation, and LINDA HOLLIDAY, director of the Bill Belichick Foundation, at the Kelly Cares event at the JW Marriott Essex House. Ms. Biblowit received the Leadership in Health Award for her efforts toward finding a cure for breast cancer. stuart ramson/invision for kelly cares foundation /ap images cares foundation kelly for ramson/invision stuart

Detective STEVEN MCDONALD, his wife, PATTI ANN, and son, CONOR, receiving the Spirit of Giving Award at the Kelly Cares Foundation’s Fifth Annual Irish Eyes Gala on March 16. /ap images cares foundation kelly for ramson/invision stuart

JOHN K. MARA, president and CEO of the New York Giants, and former Manhattan DA ROBERT M. MORGENTHAU, Police Athletic League chairman, at the March 19 ribbon-cutting to celebrate the completion of renovations at PAL’s William J. Duncan Center in Manhattan. stuart ramson/invision for kelly cares foundation /ap images cares foundation kelly for ramson/invision stuart Former NYPD Commissioner RAY KELLY with JON BON JOVI and his wife, DOROTHEA, at the Kelly Cares Foundation’s fundraiser. The event raised $750,000.

RICHARD MACK, a founder of Mack Real Estate Group, and dinner committee co-chair CHRISTINE MACK at the Randall’s Island Park Alliance Fielding Dreams Gala, which raised more than $1.3 million. bfanyc.com bfanyc.com Randall’s Island Park Alliance Fielding Dreams Gala co-chair JUSTIN HAMILL, honoree Actor TONY DANZA, PAL board member, MARGO CATSIMATIDIS and supermarket mogul JOHN LUCY FATO, executive vice president and general counsel of McGraw Hill Financial, CATSIMATIDIS, RIKKI KLIEMAN, CBS News legal analyst and PAL board member, and local honoree VICTOR CRUZ of the New York Giants and gala co-chair TIMOTHY BAREFIELD resident ARIEL DEODOCH at the ribbon-cutting. The Mara family and the NY/NJ Snowflake Youth

at the March 10 fete. bfanyc.com Foundation donated $350,000 toward the Duncan Center’s renovation.

See more of this week’s Snaps online at CrainsNewYork.com/galleries.

42 | Crain’s New York Business | March 30, 2015 20150330-NEWS--0043-NAT-CCI-CN_-- 3/27/2015 3:02 PM Page 1

FOR THE RECORD

fee, payable to NYCHA, via money day care, signed a 15-year lease for order or certified check to NYCHA 11,600 square feet at 243 St. Marks Ave. ● Barnes & Noble Inc. (BKS) ABOUT THIS SECTION Finance Department, 90 Church St., in Brooklyn. David Latman of DLL Mitchell S. Klipper, chief executive of FOR THE RECORD is a weekly listing of information from the public record sixth floor, New York, N.Y. 10007. To Real Estate Ltd. represented the tenant. Barnes & Noble Retail Group, sold that can help businesspeople in the New York area find opportunities, make inquiries, contact Erneste Pierre- Andrew Clemens and Benjamin Weiner 77,276 shares of common stock at prices Louis at (212) 306-3609 or of Ripco Real Estate represented the ranging from $23.34 to $23.81 between potential new clients and updates on competitors. [email protected]. landlord, DNA Real Estate. The rent March 12 and March 16, in a To ask questions or get more information on this section, contact was $32 per square foot. transaction worth $1,822,399. He now Crain’s research department at [email protected]. GOODS AND SERVICES directly holds 425,801 shares. ● Department of Environmental ● Organic, all-natural burger chain Protection Bareburger is taking its largest bite yet ● Pfizer Inc. (PFE) Seeks competitive sealed proposals by out of Manhattan with a 15-year deal Sally Susman, executive vice president NEW IN TOWN Southern and Eastern Districts of New 4 p.m. on April 24 for four qualified for 5,000 square feet on the ground floor of corporate affairs, sold 46,179 shares York. Information was obtained from U.S. professional site assessment firms to and lower level at 251 E. 52nd St. JP of common stock at $34 per share on Companies that would like to have details Bankruptcy Court records available on conduct site surveys and evaluate the Sutro, a director at Lee & Associates March 12, in a transaction worth of openings published should submit Public Access to Court Electronic Records. environmental condition of lands in NYC, represented the tenant. Michael $1,570,086. She now directly holds descriptions following this format to cnyb- Listings are in alphabetical order. anticipation of their acquisition by the Cohen, then at Newark Grubb Knight 151,479 shares. [email protected], with “New city. A preproposal conference is Frank and now at RKF, represented the in Town” in the subject line. ● 11 Schenectady Management Corp. scheduled for April 7 at DEP Kingston landlord of the five-story building, ● Henry Schein Inc. (HSIC) 5308 13th Ave., Brooklyn Headquarters, 721 Smith Ave., second- California-based M West Holdings. Norman Stewart Matthews, director, ● Sam & Lex Filed for Chapter 11 bankruptcy floor conference room, Kingston, N.Y. The asking rent was $175 per square sold 9,200 shares of common stock at 860 Lexington Ave. protection on March 19. The filing cites 12401. To make inquiries, contact Debra foot. prices ranging from $136.01 to $137.06 The second-floor boutique from estimated assets of $0 to $50,000 and Butlien at (718) 595-3423 or on March 13, in a transaction worth 20-something sisters Alexandra and estimated liabilities of $1,000,001 to [email protected]. $1,251,817. He now indirectly holds Samantha Mann opened on the Upper $10 million. STOCK TRANSACTIONS 21,552 shares. East Side. It features brands not usually ● Economic Development Corp. seen this far uptown, such as Veda and ● American Energy Management Group Requests proposals by 4 p.m. on May 4 Following are recent insider transactions at ● Regeneron Pharmaceuticals Inc. Eugenia Kim, as well as a few of the Ltd. d/b/a Phoenix Refrigeration from qualified developers for the New York’s largest publicly held companies (REGN) more likely UES boutique names, 9 Kuhl Ave., Hicksville, L.I. purchase or lease of an approximately filed with the Securities and Exchange Joseph J. LaRosa, senior vice president, including Mara Hoffman and LNA. Filed for Chapter 7 bankruptcy 7-acre parcel for commercial and/or Commission by executives and major general counsel and secretary, exercised Prices range from $80 to $1,200. protection on March 18. The filing cites industrial redevelopment in Springfield shareholders. Listings are in order of options on 20,281 shares of common estimated assets of $0 to $50,000 and Gardens, Queens, near JFK airport. To transaction value.The information was stock at $59.20 per share on March 16, ● Union Surfboards estimated liabilities of $0 to $50,000. make inquiries, contact Maryann obtained from Thomson Reuters. in a transaction worth $1,200,635. On 117 Dobbin St., Brooklyn The creditors with the largest unsecured Catalano at (212) 312-3969 or that same day, he sold 18,311 shares at Bringing legitimacy to “the masked claims are Chase, owed $14,705.10; [email protected]. ● Foot Locker Inc. (FL) $450 per share, in a transaction worth group of core New York surfers,” co- BBCN Bank, owed $2,450; and Chase Kenneth C. Hicks, executive chairman $8,239,950. He now directly holds founders Chris Williams and Jeffrey Ink, owed $2,015.74. of the board, sold 80,000 shares of 12,090 shares. Schroeder have set up shop in REAL ESTATE DEALS common stock between March 4 and Greenpoint. Their mission: to provide ● Federation Employment and Guidance March 5 at prices ranging from $56.23 ● ACI Worldwide (ACIW) expertly crafted boards tailored to the Service Inc. (d/b/a FEGS) Companies that would like to have details to $57.25, in a transaction worth Dennis P.Byrnes, chief administrative individual needs of the surfer and the 445 Oak St., Copiague, L.I. of their recent transactions appear in these $4,531,913. He now directly holds officer, sold 52,500 shares of common conditions of East Coast surf. Filed for Chapter 11 bankruptcy listings should email descriptions following 517,308 shares. stock at $20.50 per share between protection on March 18. The filing cites this format to cnyb-research@crainsnew March 12 and March 16, in a estimated assets of $100,000,001 to york.com, with “Real estate transaction” in ● Bristol-Myers Squibb Co. (BMY) transaction worth $1,076,250. He now COMPANY MOVES $500 million and estimated liabilities of the subject line, or enter them online at Francis M. Cuss, chief scientific officer directly holds 235,683 shares. $100,000,001 to $500 million. crainsnewyork.com/submitadeal. Deals are and executive vice president, exercised Companies that would like to have details listed in order of square footage. options on 114,010 shares of common ● Covanta Holding Corp. of recent moves published should submit stock at prices ranging from $24.71 to (CVA) descriptions following this format to GOVERNMENT CONTRACT COMMERCIAL $27.01 on March 16, in a transaction Stephen J. Jones, CEO, purchased [email protected], OPPORTUNITIES ● Boutique investment firm PJT worth $2,909,160. On that same day, he 50,000 shares of common stock at with “Company Moves” in the subject Partners signed a lease for 100,000 sold 114,666 shares at $67.81 per share, $21.15 per share on March 13, in a line. Following are selected contract square feet at 280 Park Ave. The tenant in a transaction worth $7,775,502. He transaction worth $1,057,300. He now opportunities recently announced by New was represented by Evan Margolin from now directly holds 266,033 shares. indirectly holds 70,044 shares. Ⅲ ● Banana Republic York City agencies.To learn how to sell Savills Studley.The owners, Vornado 105 Fifth Ave. goods and services to city government, visit Realty Trust and SL Green Realty Corp., The lifestyle brand opened a flagship www.nyc.gov/selltonyc. For a searchable were represented by Eric Deutsch, Sam shop in the Flatiron district, its 10th database of current procurement notices, Seiler, Gregg Rothkin, Mary Ann Tighe DEALS ROUNDUP store in Manhattan. The two-story space visit www.nyc.gov/cityrecord. Listings are and Peter Turchin of CBRE. Rents in debuts creative director Marissa Webb’s alphabetical by category and department. this area are estimated at a range of $100 TRANSACTION SIZE first summer collection for the brand, to $150 per square foot. TARGET/SELLERS (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE including men’s and women’s clothing CONSTRUCTION SERVICES and accessories. A selection of curated ● City University of New York ● Vodafone Group signed a lease for Life Time Fitness Inc./ $4,071.8 Leonard Green & Partners; FB M&A products includes handbags from Basil Seeks competitive sealed bids by 11 a.m. 34,400 square feet at 560 Lexington Ave., HG Vora Capital LNK Partners; management of Rucuk, candles from Baxter of on April 23 for Americans With doubling its current space in the (Manhattan); KSL Advisors; Life Time Fitness Inc.; TPG Capital Marcato Capital Management California and skin-care products from Disabilities Act bathroom upgrades in 22-story, 400,000-square-foot building. Damn Handsome. five buildings at Queens College, The tenant was represented by William Willis Tower (Chicago)/ $1,300.0 Blackstone Real Estate SB M&A including asbestos abatement. A prebid Fressle of Cushman & Wakefield. 233 South Wacker; Advisors (Manhattan) ● American Landmark Cure Urgent Care meeting and site visit are scheduled for Thomas Keating and Kevin Daly of Properties Ltd.; 175 E. 96th St. 10 a.m. on April 2 at Queens Hall, Rudin represented the building’s Chetrit Group (Manhattan) The medical-care chain will open a Room 265H, Main Street entrance, ownership, Rudin Management Co. The OverDrive Inc., $410.0 Rakuten Inc. SB M&A 2,900-square-foot facility on the Upper Queens College, 65-30 Kissena Blvd., asking rents are estimated in the mid- Insight Venture East Side this spring, offering full urgent Flushing. To make inquiries, contact Ivy $60s per square foot. Partners (Manhattan) medical services to the surrounding Coughman at (646) 664-2700 or Vitesse Semiconductor Corp./ $399.0 Microsemi Corp. SB M&A ● community.This will be the company’s [email protected]. Nicole Miller has re-signed its lease Columbia Pacific Advisors;/ third New York location, in addition to for 28,000 square feet at 525 Seventh Raging Capital Management; its Upper West Side and Huntington, ● Department of Design and Construction Ave., securing 10 more years at the 24- Rima Senvest Management L.I., locations. Seeks competitive sealed bids by 2 p.m. story, 464,000-square-foot office (Manhattan); Whitebox on April 27 for the façade rehabilitation building. JLL’s Kirill Azovtsev and Jim Advisors ● El Colmado Butchery of the Sun Building in Manhattan. Bid Wenk represented Nicole Miller in the Holiday Inn portfolio/ $331.8 Cerberus Capital Management FB M&A 53 Little W. 12th St. documents are available at transaction. Steven Marvin of Olmstead GIC Real Estate Pte Ltd.; (Manhattan) The butchery, wine and tapas bar opened nyc.gov/buildnyc. A bid document Properties represented the landlord, Realstar Group Inc. in the meatpacking district. It is the deposit of $35, via money order or Olmstead Properties. The asking rent Orchard Media Ltd./ $200.0 Sony Music Entertainment SB M&A second outpost of star chef Seamus company check, is required. To make was $65 per square foot. Orchard Asset Holdings Inc. (Manhattan) Mullen’s food hall, El Colmado.The all- inquiries, contact Emmanuel Charles at (remaining minority stake) Spanish menu includes salads, sand- (718) 391-2200 or ● Niche Media Holdings, a publisher of Youxin Hulian (Beijing) $170.0 Baidu Inc.; Coatue Management GCI wiches, homemade charcuterie, smoked [email protected]. regional lifestyle magazines, signed a Information Technology Co./ (Manhattan); KKR & Co. deviled eggs and Ibérico-ham croquettes. lease for 20,000 square feet at 711 Third not disclosed (Manhattan) At the classic butcher shop, guests can ● Housing Authority Ave. Kirill Azovtsev and Scott Panzer of Yieldex Inc./ $100.0 AppNexus Inc. SB M&A pick up cuts of fresh meat to take home or Seeks competitive sealed bids by 10 a.m. JLL represented Niche Media in the First Round Capital; Hearst Ventures (Manhattan); have the chefs prepare on-site. on April 23 for the Supply Management deal. Gary Rosen and Howard Madrona Venture Group Department installation of concrete Tenenbaum of SL Green represented the pads and recycling bins in various landlord, SL Green Realty. Asking rents Selected deals announced for the week ended March 19 involving companies in metro New York. FB M&A: Financial buyer M&A represents a minority or majority acquisition of existing shares BANKRUPTCIES developments throughout the five are listed at $55 and $58 per square foot. of a company with the participation of a financial buyer. SB M&A: Strategic buyer M&A repre- boroughs. The contract term is two sents a minority or majority acquisition of existing shares of a company without the participation The following listings are selected from the years. The RFQ number is available at RETAIL of a financial buyer. GCI: Growth capital investment represents new money invested in a compa- most recent available filings by companies nyc.gov/nychabusiness. For a paper ● Lightbridge Academy, an early- ny for a minority stake. source: capitaliq seeking bankruptcy protection in the document, send a nonrefundable $25 childhood learning center that provides

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