5

0 71486 01068 5 40 gettyimages Jason Goldberg rethinking itsstrategy high acost.Nowit’s growth cameattoo Flash-sales site’s rapid VOL. XXIX,NO.40 hsqiky andyou’re goingto this quickly, boomers attheturnofcentury. tothoseofthedot-com struggles the companyisprofitable andlikenits doubt Most observers last weekalone. plans andlaidoffemployees—101 expansion back scaled business model, ithasreinvented its Web traffic, in decline Amidasharp headwinds. hashitsome favorite flying sales ofatleast$115millionlastyear, rakingin global revenue jumpsixfold, Fab.com hasseenits furnishings, home site sellingcontemporary deal its2011launchasadaily Since BY ADRIANNEPASQUARELLI NEWSPAPER to earth Fab falls High-flying “You’re afirework whenyou grow CRAIN’S ELECTRONIC EDITION ots thehigh- months, funding. venture-capital $330 millionin overhas attracted million membersand It hasmore than10 according toreports. WWW.CRAINSNEWYORK.COM But inrecent 0 See FAB onPage32 E OKBUSINESS YORK NEW .15 1 p. them zoom See whatmakes LeoRussell. CEO Pride Global,ledby companies, like NY fastest-growing Meet thisyear’s50 REVENUE! REVVED-UP Inside .49 p. New Yorkers justcan’t drive whattheysay: It’s true ® PAGE 3 project Hudson Yards all aroundthe lots, properties bidding up Buyers are OCTOBER 7-13, 2013 PRICE:$3.00

buck ennis EDITOR’S NOTE

A nifty 50 FYICRAINSNEWYORK.COM Get a load of this number in our Fast 50 feature that starts on Page 15: 3,436%.That’s how much New Taking the measure York’s fastest-growing company— of the debt-default crisis a conference-space provider called Convene—expanded its revenue he government shutdown is a nuisance, between 2009 and 2012, to $15.6 but the real threat looming in front of million as of last Dec. 31. And how the congressional stalemate is a debt Glenn Coleman T did your business fare in that default. Folks vaguely sense the potential period? Thought so. What I most disaster for the U.S. and global economy, but appreciate about our annual exercise in identifying because such a scenario has never happened, few people understand how it would play out. New York’s hardest-charging chargers (other than bloomberg news the awesomeness of Contributing Editor Elaine The most obvious consequence is that U.S. Pofeldt and Data Editor Suzanne Panara, who Treasury bonds would lose their special status in the markets as risk-free securities.That means steered the project) are the lessons in each company’s the federal government would have to pay higher interest rates to persuade the Chinese and other story. How an opening was spotted, an opportunity big investors to buy its bonds.The deficit would soar. was seized; how management scrambled over and Here’s another nightmare scenario: The Federal Reserve runs a clearing system, called around the inevitable obstacles (especially when your FedWire, through which more than 9,000 banks transfer more than $2.7 trillion to one another business is obstacles, in the case of boot-camp-style every day. Countless numbers of these transactions use Treasury bonds as collateral. FedWire race organizer Tough Mudder, with revenue up doesn’t allow defaulted securities to flow through, according to a recent report by RBC Capital 3,291% over two years, to $75.6 million at the end of Markets, yet delivery systems aren’t designed to identify defaulted Treasury bonds. Default would 2012).The 50 companies profiled on Pages 15 to 31 cause chaos in FedWire and other clearing systems, causing the plumbing of the globe’s financial range from fashion websites to business lenders to markets to seize up. Or, if you prefer, go into cardiac arrest. Rather like 2008. solar-power installers to baby-food makers. Here’s Privately, House Speaker John Boehner (above) has said he would not allow a debt default, but the one constant: Each reported more than 100% he’s shown little control over the situation so far. —aaron elstein revenue growth in the time periods we judged. Speaking of doubling your numbers, my Sept. 30 NY SUES WELLS FARGO. New York stitution. … SOTHEBY’S POISON PILL. Editor’s Note used an outdated estimate for the cost state sued Wells Fargo for failing to Auction house Sotheby’s adopted a HOORAY! abide by the terms of a $25 billion shareholder-rights plan to protect it- BRITISH of last week’s primary runoff for public advocate.The mortgage-servicing settlement, a self from hostile takeovers.The move GRAFFITI ARTIST voting last Tuesday to choose Letitia James or 2012 deal designed to help distressed followed an “angry letter” from BANKSY Daniel Squadron for the Democratic ballot in homeowners avoid foreclosure.State Daniel Loeb,an activist investor who launched a Attorney General Eric Schneider- wants a board seat and called for monthlong November ended up costing an estimated $13 show on man accused the San Francisco- CEO William Ruprecht to resign. New York million, not the $25 million figure I cited.That’s still based bank of imposing unnecessary Mr. Loeb’s Third Point raised its City streets. a lot of taxpayer money, of course, for a citywide post delays on borrowers seeking to mod- stake in the auction house to 9.3%.… with an annual budget of $2.3 million. So, I stand by ify their loans. … STRIKE DELAYS REVLON CEO SWAP. Revlon CEO OPENING NIGHT. my plea for deciding the victor with a coin toss and A demonstration by Alan Ennis resigned, and David OY VEY! the stagehands’ union canceled Kennedy is stepping into the post BANKSY’S first saving the millions for a cause that helps people Carnegie Hall’s season-opening temporarily. Mr. Kennedy, 66, led piece of art in more than politicians. As I noted last week in a concert on Oct.2 and the beauty-product Chinatown, of a young boy congratulatory tweet to runoff winner @TishJames, marked the first ‘It was pretty company from 2006 standing on strike in the venue’s to 2009. … TISH another boy’s “Hope you show us it was money well spent.” history. The Ameri- nerve-racking, JAMES WINS. City back, was immediately can Symphony Or- Councilwoman whitewashed. chestra performed as also because Letitia James defeat- THIS WEEK IN CRAIN’S scheduled the next it had already ed state Sen. Daniel day, and a labor Squadron in a runoff IN THE BOROUGHS------3 agreement was been a pretty for city public advo- reached Oct. 4. … cate. Turnout was company, plans to take Mr. Jacobs’ IN THE MARKETS------stressful week 4 CURTAINS FOR NYC low, but Ms. James firm public within the next three THE INSIDER ------6 OPERA. The New for everyone’ got 59.4% of the vote. years. His business generates nearly York City Opera filed —Rep. Grace Meng, She is slated to be- $1 billion in sales. … AND TA-TA, ING. CORPORATE LADDER------10 for Chapter 11 bank- D-Queens, regarding the come the first black The New York Road Runners tapped OPINION ------12 ruptcy after falling car-chase incident that led woman to hold city- India’s Tata Consultancy Services as about $5 million to a brief Capitol Hill wide office. There is the new title sponsor for its annual GREG DAVID------13 short of its goal to lockdown no GOP candidate New York City Marathon.The glob- REAL ESTATE DEALS------14 raise $7 million by for the post. … AU al information-technology company Sept. 30. In the filing, the nonprofit REVOIR, MARC. Longtime Louis will replace Dutch bank ING, the CLASSIFIEDS ------42 reported some $5.6 million in debt. Vuitton designer Marc Jacobs, 50, is race’s sponsor for a decade. Financial NEW YORK, NEW YORK ------49 The opera’s attorney said the compa- leaving the French fashion house to terms of the eight-year deal were not GOTHAM GIGS ny will be liquidated or sold in court focus on his own brand in New York. disclosed. SOURCE BREAKFAST------50 Wedding planner Preston to another cultural or educational in- LVMH, the majority owner of his —amanda fung Bailey brings star power. P. 8 OUT AND ABOUT ------51 CORRECTIONS (SEE PAGE 46)

vol. xxix, no. 40, october 7, 2013—Crain’s New York Business (issn 8756-789x) is published STORIES TO WATCH THIS WEEK weekly, except for double issues the weeks of July Fourth, July 29, Aug. 12, Labor Day and Christmas, by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at New York, N.Y., and additional mailing offices. Postmaster: Send address Oct. 9: City Oct. 9: City Oct. 10-13: Oct. 12-13: changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, Planning hearing Council may New York Annual MI 48207-2912. for subscriber service: Call (877) 824-9379. Fax (313) 446-6777.$3.00 a copy, $99.95 one on proposed vote on Willets Comic Con architectural event year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2013 by Crain Communications Inc. All rights reserved. Bronx Kingsbridge Point, Queens, Open House National Ice Center redevelopment New York

2 | Crain’s New York Business | October 7, 2013 IN THE BOROUGHS MANHATTAN Garment district survivor Ornate 1901 building Bryant Park Studios is full of fashion firms

BY KERRY MURTHA

The artists that a 10-story Beaux Arts building on the south side of Bryant Park was built to house in 1901 began moving out many FLIPPING: Jeff Katz decades ago. The painter Winslow of Sherwood Equities Homer and others, followed many has been investing in years later by photographers Ed- the Hudson rail yards ward Steichen and Irving Penn, all area since 1992. “It’s ridiculous,” he said of decamped. In came tenants from buyers’ recent interest the rising ranks of the area’s largest in his holdings. industry, the garment makers and designers. Among them was Liz Claiborne, who founded her com- buck ennis pany in 1976 at what is officially known as the Bryant Park Studios. Ms. Claiborne expanded to three floors of the building before relocat- Hudson Yards’ lucky No.7 ing two years later. Today,the property’s long record of full occupancy stands unbroken, cutting ride, perhaps as soon as the they have been anticipating for even as the place continues to cater Developers eye BY DANIEL GEIGER summer of 2014, the station will years—for decades, in some cases. almost exclusively to garment out- have its official opening. An entire It presages not only the arrival of fits. Tenants at the building, on the gains in tenants, Sometime in the next 12 weeks, new neighborhood-to-be will, at the train,but a whole new stretch of southeast corner of West 40th Street Michael Bloomberg is expected to last, be on the subway map for as cityscape. and Sixth Avenue, range from Alice infrastructure go where no mayor has gone before: many as 27,000 riders a day,accord- “When we talked to tenants and Olivia in the ground-floor retail to the new terminus of the No. 7 ing to Metropolitan Transportation years ago about coming to the Hud- space to fashion labels Joie, Vince following subway train just west of 10th Avenue near Authority projections. son Yards and explained all the in- and White + Warren upstairs. West 34th Street. For far West Side landlords and frastructure that would be here and “No matter how the garment dis- extension A few months after that ribbon- developers, it will be the moment See HUDSON YARDS on Page 48 See GARMENT on Page 41 Whole Lhota cutting: How Joe STATS AND THE CITY by Emily Laermer LIFE SUPPORT: High volume swamped the Oct. 1 debut of New York State would downsize government of Health, the state’s online health insurance exchange. Simultaneously, the GOP forced a government shutdown to try to block health care reform.

Mayoral hopeful er taxes,a smaller city workforce and would focus on reducing the size of VISITS to NY’s health insurance website in one less regulation. But he stressed that city government while eliminating 30M+and a half days after launch says he could save he, like his main rival, Bill de Blasio, taxes that stifle business growth,but aims to address the city’s affordabil- did not specify how much his pro- FEDERAL grant money without ity crisis—for example,by creating a posals would cost and how he would $368Mmoney received by the reducing services pre-kindergarten program and re- pay for them beyond “finding effi- state to develop its online exchange ciencies” in the city’s $70 billion an- nual budget. He discussed his plan PORTION of American voters who BY ANDREW J. HAWKINS ‘How is it to build or preserve 150,000 units of oppose Congress’ shutdown of affordable housing (50,000 fewer 72%the federal government to block Obamacare He is 50 points down in the polls to that the city than Mr. de Blasio has proposed). a Democrat promoting an activist And above all, he sought to portray NEW YORK STATE RESIDENTS vision of government, but Republi- hasn’t had a himself as a socially liberal, fiscally under 65 living without health can mayoral candidate Joseph conservative manager who would 2.7Minsurance, including 1.2 million in NYC Lhota is not shying from his call for restructuring?’ excel at the nuts-and-bolts of run- a leaner, more efficient city. His ning the city but not task govern- NYC RESIDENTS goal: Hire one city worker to replace ment with solving all of its social ills. 508Kwho will gain insurance every two who leave the payroll. “We rely on the mayor of the city under the Affordable Care Act In an hour-and-a-half interview of New York to do what we don’t re- with Crain’s last week, Mr. Lhota warding developers who build af- quire any other elected official to PORTION of expected new NYC enrollees who are children Sources: U.S. Census Bureau, outlined a series of proposals, in- fordable housing, but without the do,” Mr. Lhota said. “You walk out 24% Quinnipiac University, Urban Institute, cluding several not previously dis- tax hikes and business mandates of your home and there’s garbage in New York State Department of Health cussed by the candidate publicly. proposed by Mr. de Blasio. the street? I’ll bet you 80% to 90% of istockphoto At first glance, Mr. Lhota’s plat- Mr.Lhota,a former budget chief New Yorkers say,‘What’s the mayor ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY form is Republican boilerplate:few- under Mayor Rudy Giuliani,said he See WHOLE LHOTA on Page 47

October 7, 2013 | Crain’s New York Business | 3 REBUILDING NY IN THE Crain’s hosts Sandy panel MARKETS by Aaron Elstein discuss with business and political Rodin, president of the Rockefeller Cuomo, Bloomberg leaders the state of the city’s recov- Foundation;and Bill Rudin,CEO of deputies to detail ery.The morning gathering Oct. 28 Rudin Management Co. Tweet stuff, these at the Sheraton New York Times Rudin’s buildings exemplify new recovery 1 year later Square will begin with an address by approaches developers have em- Howard Glaser, director of state op- braced in storm-soaked lower Man- BY JEREMY SMERD erations for Gov. Andrew Cuomo, hattan. After Sandy flooded 110 Twitter shares who will update the business com- Wall St.,destroying key building sys- Federal authorities last week gave munity on the state’s recovery and tems, Rudin canceled its commercial Twitter New York homeowners more time to the challenges that remain. leases at the 27-story tower and ift through ’s prospectus for its apply for federal aid to help rebuild rethought its business plan. initial public offering and it’s clear from Superstorm Sandy. The six- Storm changed business Last week, Crain’s reported the this company bears more than a month extension of an Oct. 29 dead- A panel discussion will follow,fo- result: a potential deal with fast- S Google passing resemblance to or line is a reminder that nearly one year cusing on the policies and projects growing office-sharing company after the hurricane, many in the re- that have been given the green light, WeWork to take the entire 300,000- Facebook. Like those two giants, it’s gion have not yet filed flood insurance as well the lessons that have been square-foot building. The company tremendously popular, with 500 claims for repair work, let alone fully learned over the past year. plans to keep the lower floors as of- million new tweets every day. It’s recovered from the storm, because The panelists sharing their recov- fices while turning the upper stories more expenses are coming to light. ery stories will be Deputy Mayor into residential micro-apartments. growing super-fast, with revenue Homeowners are not the only Caswell Holloway, who led the city’s “We’re very bullish on lower this year on pace to come in ones still recovering. Sandy changed operational response to the storm; Manhattan,” a spokesman said. about 18 times higher than in the way many New York companies Fairway Vice Chairman Howard Verizon, meanwhile, is retreat- 2010. And it’s losing buckets do business, and forced political Glickberg, whose supermarket spent ing. The telecommunications com- leaders to map out plans to fortify the $10 million gutting and renovating pany is relocating its headquarters to of money: $140 million this city against extreme weather. its devastated Red Hook , Brooklyn, midtown, having sold the top 21 year at the current rate. On the eve of the storm’s first an- store; Denise Richardson, managing stories of its downtown building to But Twitter as a public niversary, Crain’s will host its second director of the General Contractors a developer who will turn the offices company would be very Rebuilding New York conference to Association of New York; Judith into residential condominiums. Ⅲ different from others coming out of Silicon Valley in one very CohnReznick is an independent FRKQUH]QLFNFRPWKLQN member of Nexia International important way, and it says so on Page 146 of the 200- plus-page prospectus. istockphoto There the company blandly states: “Holders of our common stock are entitled to one vote for each share.” It doesn’t sound like much, but in the world of social media (and old media), such a statement is revolutionary. It )RUJDPHFKDQJLQJDGYLFH means the founders of Twitter are not granting themselves LQDQHYHUFKDQJLQJZRUOG a special class of stock so they can retain ironclad control of the company after taking it public. %XVLQHVVLVDOZD\VLQÁX[7KDW·VZK\IRUGHFDGHVVXFFHVVIXO ?” FRPSDQLHVKDYHDVNHG´:KDWGRHV&RKQ5H]QLFNWKLQN “Twitter is doing what almost all because its founders don’t loom &RKQ5H]QLFN·VH[SHUWLVHLQVLJKWDQGDGYLFHFDQKHOS\RX institutional investors want—treat- over the company in the same way PRYHDKHDGQRZDQGLQWKHIXWXUH ing all investors the same,”said Roger as at Facebook or Google. CohnReznick. Where forward thinking creates results. Ehrenberg, managing partner at New At Facebook,founder and CEO York venture-capital firm IA Ventures. Mark Zuckerberg controlled more At many publicly traded media than half his company’s shares companies—Google, Facebook, heading into the IPO. At Twitter, LinkedIn, Viacom, News Corp., Cablevi- co-founders Jack Dorsey and Evan sion and The New York Times Co. come Williams between them control only to mind—there is a person or fam- 17%. (Mr. Williams left Twitter in ily whose grip on the top is absolute 2011, while Mr. Dorsey serves as because they hold special shares chairman.) The rest of the stock has that mean their votes in boardroom been soaked up mainly by VC elections count for a lot more than firms, including Fred Wilson’s Union common stockholders’. Square Ventures, although exact Investors for now are surely stakes haven’t been disclosed yet. quite happy that the founders of Before tweeting about a new age Facebook and Google have re- of #shareholderrights, one last mained in control. But it can easily thing: Twitter said its board will be turn the other way. Arguably, one “classified,” meaning different di- What does reason so many old-media compa- rectors would stand for election in nies have struggled is that their different years.That will make it es- CohnReznick controlling families aren’t subject to sentially impossible for sharehold- think? shareholder oversight. ers to rise up and immediately re- Twitter wouldn’t comment on place Twitter’s board if directors are why it has adopted the one-share, derelict in their duties.In short,not one-vote structure. Probably it’s an investor-friendly move. Ⅲ

AMOUNT OF INVESTMENT- $56.8B BANKING FEES generated by Wall Street so far this year. Although the figure represents a 3% improvement over last year, Thomson Reuters expects a slow fourth quarter will result Joe Torre, National spokesperson in a 1% decline in fees for the full year. That suggests

bloomberg news another disappointing bonus season looms for bankers.

4 | Crain’s New York Business | October 7, 2013 Switch today and get unlimited transactions so you never pay extra for doing more business. Visit your local branch or capitalonebank.com/sparkbusiness.

A $250 minimum account opening deposit is required. Additional terms, conditions and eligibility standards apply. Visit a branch to get details and see if this account ts your business. Capital One, N.A., Member FDIC. THE LEUKEMIA & LYMPHOMA SOCIETY THE C NGR ATUL ATES INSIDER THE NEW YORK CITY CHAPTER’S by Chris Bragg 2013 MAN AND WOMAN OF THE YEAR WINNERS AND TOP FUNDRAISERS.

Alex Alli Tim Cook Megan Quail newscom UBS O’Connor General Atlantic White and Williams LLP Union paid fake consulting firm super PAC formed by the powerful city teachers’ union paid more than $370,000 to an apparently fictitious political consulting business, which was A Advance Group actually the well-known New York firm the , records and interviews show. Strategic Consultants Inc. — MAN OF THE YEAR — — WOMAN OF THE YEAR — The listing of the phony firm, , in campaign filings, obscured that the Advance Group was Josh Lite Robert Miller Sarah Ray LifeHiccup.com JAE Credit Management LP Viacom Media Networks being paid both to promote candidates for the United Federation of Teachers’ independent political action committee and to be the main campaign consultant for several of those same candidates. Super PACs have no spending limit but can’t coordinate with individual The Leukemia & Lymphoma Society congratulates this year’s winners and all the campaigns. UFT President Michael Mulgrew (above) denied candidates who competed for the title. Their efforts and commitment have made wrongdoing in an interview with payments to Strategic Consul- an impact in the search for cures and effective blood cancer therapies. WNYC last week but could not ex- tants, rather than the Advance plain the fake name of the firm. Group. “The UFT followed [Cam- The teachers’ union’s payments paign Finance Board] guidelines in www.mwoy.org/nyc
t
888.HELP.LLS raise new questions about poten- setting up firewalls between the tially improper coordination be- union and the independent expen- tween outside spending efforts run diture; we also received written as- by the Advance Group and the surances from our vendors that firm’s own clients. they set up their own internal fire- In August and September, the walls that complied with CFB reg- teachers’ union’s super PAC, United ulations,” the spokesman said. for the Future, paid more than But one good-government $370,000 to Strategic Consultants, group called for an investigation which produced mailers touting after this article was published on- candidates in races across the five line last week. boroughs. But there is no corporate “It appears from the expendi- record in New York for a firm of that ture report that the UFT took pains name, nor has such a firm ever been to conceal a coordinated effort with paid before in a New York election. a paid consultant for several union- A Google search yielded no results backed candidates,” Susan Lerner, for such a company. executive director of Common In state campaign finance Cause/NY,said.“This is a disturbing records, however, there is a Man- end-run around the campaign fi- hattan address listed for Strategic nance laws designed to limit the in- Consultants: 39 Broadway, which fluence of big-dollar donors on the is also the address of the Advance political process. The Campaign Group. And in one campaign fil- Finance Board should promptly in- ing, a suite number is listed: 1740, vestigate the UFT and the Ad- the Advance Group’s suite number. vance Group to quickly determine A knowledgeable labor source whether any violations of the inde- told Crain’s that the Advance pendent expenditure regulations Group was involved in the teach- took place, and hold the culpable ers’ union’s independent expendi- entities accountable.” ture efforts. A spokeswoman for Crain’salso recently wrote about the Advance Group did not return the Advance Group’s independent repeated requests for comment. expenditure campaign for animal- In a statement,a teachers’union rights nonprofit NYCLASS, which spokesman declined to address the firm ran while serving as the why the union is listed as making See UNION on Page 46 QUOTE OF THE WEEK: ‘I’m a progressive activist fiscal conservative’ —Mayoral candidate Bill de Blasio

BUSINESS 15% Portion of Americans ages 18+ who do not use the Internet PEOPLE Source: Pew Research Center

LIFE IN THE BAUBLE: Preston EXECUTIVE MOVES Bailey and his four- person team design LIC Partnership: weddings so intricate Elizabeth Lusskin, that they can handle only one a month. 48, joined the nonprofit as president, effective Oct. 15. She is currently chief of staff and vice president of strategic initiatives at Polytechnic Institute of New York University. PSCH: Robert Hettenbach, 63, was promoted to president at the human- services agency. He was previously chief operating officer. Shavone Hamilton, 39, was promoted to senior vice president. She was previously vice president. John Kastan, 60, joined as senior vice president. He was previously executive director at Peninsula Counsel Center. Your Majesty: Jason Prohaska,45, joined the creative agency and production company as chief executive. He was previously general manager and managing director at Big Spaceship. NeoStem Inc.: Robert Dickey,57, joined the cellular- therapy company as chief financial officer. He was previously senior vice president at Hemispherx Biopharma Inc. SourceMedia: Minna Rhee, 46, joined the financial media company as chief digital officer. She was previously chief executive at Zeta Interactive. buck ennis buck ennis Icrave: Gary Krivin, 50, joined the design and branding firm as chief GOTHAM GIGS operating officer, a newly created position. He was previously managing partner at Krivin Consulting. New York-Presbyterian/Columbia University Medical Center: Dr. Steven Stylianos, 57, joined as chief of pediatric surgery and surgeon in chief Standing on ceremony at Morgan Stanley Children’s Hospital. He was previously head of the pediatric surgery division and associate surgeon in chief at Cohen Preston Bailey gives weddings their star power Children’s Medical Center. Dr. James J. Riviello Jr., 61, joined as For each wedding he arranges, Preston Bailey Plaza Hotel in 1998. Joan returned the favor by chief of child neurology at Morgan Stanley Children’s Hospital. He was ‘That’s plans something that’s never been done before. officiating Mr. Bailey’s wedding this past previously director of the pediatric He sculpted a chuppah wedding canopy out of Valentine’s Day at midnight atop the Empire neurology division and professor of what neurology and pediatrics at the NYU roses for Ivanka Trump’s $3 million nuptials. State Building. ¶ Each wedding he and his School of Medicine and a member of everyone For Napster co-founder Sean Parker, the four-person design team plans is so intricate the comprehensive epilepsy program celebrity event planner built a fantasy Game of that they can handle only one a month and at NYU Langone Medical Center. wants— Infor: Marc Scibelli, Thrones-themed wedding with a dragon-shaped usually require six months to plan. Mr. Bailey 37, was promoted to that floral arrangement and homemade pond and declined to discuss how much the weddings chief creative officer at the consulting bridges. “That’s what everyone wants—that cost. Most take place outside New York. company. He was surprise surprise element,” said Mr. Bailey, 64. ¶ The Because most of his clients are very picky, he previously vice president, creative. element’ Panama native began his career as a fashion usually presents them with three options. ¶ Willis North America: model in the 1980s. Soon after, he began One of the craziest weddings he’s designed was Eric Joost, 48, was working as a florist, designing bouquets for a a surprise nuptial ceremony aboard an airplane. promoted to chief operating officer at the risk-advisory and insurance variety of wealthy clients. “Being from Panama, The couple didn’t tell their friends they were brokerage, a newly created position. there’s a lot of beautiful nature and trees,” said getting married until they were in the air. ¶ He was previously chief executive of Willis North America’s specialty Mr. Bailey, whose flower of choice is the orchid. “It’s fun to see people’s reactions,” he said. practices. “It’s the concept of bringing the outdoors in.” ¶ “Designing is all about taking what exists and Uniting Against Lung Cancer: Frank Aquila, 56, was appointed to the One of his first big breaks was the wedding of giving it a twist and changing it around.” nonprofit’s board of directors. He will Joan Rivers’ actress-daughter, Melissa, at the —emily laermer See EXECUTIVE MOVES on Page 10

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If you have 50 or fewer employees, learn more at nystateofhealth.ny.gov or call 1-855-355-5777, or talk to your broker.

©2013 NY State of Health CORPORATE LADDER EXECUTIVE MOVES

Continued from Page 8 PRET EXEC HOPES TO EAT COMPETITORS’ LUNCH continue as a partner and co-head of the general practice group at Sullivan & BRITAIN, FRANCE, HOLLAND, ASIA. Robert Naylor’s career in the food and beverage industry has taken him many places. Cromwell. New York Musical Theatre Festival: Now it brings him to New York. The new president of Pret A Manger U.S. hopped the pond to help fuel the growth of the Dan Markley, 53, joined the nonprofit as gourmet ready-to-eat chain, which has 36 New York City locations. executive director and producer. He was “We’ve achieved great growth, and I want to continue it. We have opportunities in a number of areas, like previously management and breakfast and hot food, that we’re putting money and resources into now,” said Mr. Naylor, who said he expected programming consultant at Dreamland “a significant change in that arena in mid-October.” Film and Performing Arts Center in The 63-year-old Briton attended the University of Manchester. “Geography was my study, but food and drink has Nantucket, Mass. been my passion,” he said. Mr. Naylor was employed briefly by Pret A Manger in Asia before moving to Starbucks, The New School: Michelle J. DePass, 46, joined as dean of the Milano School of most recently as managing director of Starbucks France. International Affairs, Management and “Rob was instrumental in helping Pret Hong Kong in its early years,” said Pret A Manger Chief Executive Clive Urban Policy. She was previously Schlee. “And I can’t think of a stronger retailer to have at the helm of Pret U.S.” —EVA SAVIANO assistant administrator for international and tribal affairs at the Environmental Protection Agency. East River Partners: Jenny Bernell,32, joined the real estate firm as director of development. She was previously project manager at the New York City Economic Development Corp.’s capital division. Newmark Grubb Knight Frank: Jonathan Mazur, 36, joined as director of capital markets research. He was previously director of New York With a rich, 75-year architectural legacy of serving research at Cushman & Wakefield. clients in the New York metropolitan region, Trump Hotel Collection: Lisa A. Potts, 46, joined as senior vice president of sales Gruzen Samton LLP proudly reintroduces itself as and marketing. She was previously regional vice president of sales and marketing at Starwood Hotels and IBI Group ƒ Gruzen Samton Resorts. FirstService Residential: Marc Kotler,48, was promoted to senior vice president at the real estate firm, a newly created position. He was previously vice president. IBI Group is a global architecture, planning, engineering Tom Padilla, 45, was promoted to senior and technology firm with offices across North America, vice president. He was previously vice president. Europe, the Middle East, and Asia. Joining IBI Group Financial Times: Stacy-Marie Ishmael,29, strengthens and broadens our resources to better serve joined the news organization as vice president of communities, a newly you. created position. She was previously product manager at Percolate Industries Inc. IBI Group ƒ Gruzen Samton continues a long firm tradition Synthesio: Leah Pope, 31, joined the of design excellence with innovative and responsive social-media monitoring company as vice president of global marketing, a solutions for the public and private sectors. newly created position. She was previously manager of worldwide marketing at IBM. We offer comprehensive professional services to meet the Rosabianca & challenges and needs of our clients and positively shape Associates: David Van Leeuwen, 31, joined the cities of the future. the law firm as an associate attorney. He was previously an associate attorney at Nadel & Associates. AdLarge Media: Jackie Montagna, 36, joined the advertising sales representation organization as national account manager. She was previously director of sales at TargetSpot. Belkin Burden Wenig & Goldman: Allison Lissner, 39, joined the law firm as a partner. She was previously a partner at Cole Schotz Meisel Forman & Leonard. Global Intelligence. Local Knowledge. White and Williams: Robert Ansehl,40, joined the law firm as a partner and chair of its insurance transactional and regulatory group, a newly created position. He was previously a partner at Clyde & Co. Susan Lee, 40, joined as a partner. She was previously senior counsel at Clyde 320 West 13th Street & Co. New York, NY 10014-1200 USA —eva saviano tel 212 477 0900 | fax 212 477 1257 EXECUTIVE PROMOTIONS website www.ibigroup.com | www.gruzensamton.com IBI GROUP ƒ GRUZEN SAMTON twitter @IBIGroupGS The fastest way to get an announcement into Architects, Engineers & Landscape Architects facebook /IBIGroupGruzenSamton Crain’s is to submit online. Fill out the form at www.crainsnewyork.com/section/ executive_moves. The Executive Moves column is also available online.

10 | Crain’s New York Business | October 7, 2013 QBE and the links logo are registered service marks of QBE Insurance Group Limited. © 2013 QBE Holdings, Inc. OPINION CRAIN’S NEW YORK BUSINESS

Cleaning up a wasteland editor in chief Rance Crain publisher, vp Jill R. Kaplan s a crucial City Council vote on the that characterize the area’s infamous Iron Triangle: dirt EDITORIAL editor Glenn Coleman massive Willets Point redevelopment streets with cavernous potholes, no sewer system and managing editor Jeremy Smerd deputy managing editors Valerie Block, draws nigh, the opposition has become unfathomable contamination. Erik Ipsen increasingly desperate, holding rallies and The proposed mixed-use, $3 billion project, which assistant managing editor Erik Engquist amping up its rhetoric.To hear them tell requires at least two phases and will be carried out over senior producer, news Elisabeth Butler Cordova news producer Amanda Fung it, the project is a blatant bait-and-switch several administrations, promises not only to clean up and contributing editor Elaine Pofeldt that enriches wealthy developers with city modernize the polluted site, but also to deliver a new columnists Greg David, Steve Hindy, Alair Townsend crain’s health pulse editor Barbara Benson subsidies and turns treasured parkland into a parking lot and neighborhood in northeast Queens. It’s as ambitious as it is senior reporters Theresa Agovino, a mall. If that sounds too bad to be true, it is. complicated, given the high cost of the remediation and of Aaron Elstein, Lisa Fickenscher, Matthew Flamm, A Daniel Geiger, Adrianne Pasquarelli Fortunately—save for a few misguided activists— ultimately making 35% of the housing units affordable to reporters Chris Bragg, Andrew J. Hawkins Queens residents and community leaders see through the satisfy the community. reporter/videographer Ken M. Christensen web reporters/producers Nazish Dholakia, propaganda, and there is every reason to believe the council After decades of Various changes to Irina Ivanova will approve the first phase of the plan as early as this week. the plan, portrayed by art director Steven Krupinski trying, a chance deputy art director Carolyn McClain Councilwoman Julissa Ferreras is still negotiating for the opponents as evidence staff photographer Buck Ennis best package of community goodies she can get from the of a devious plot, were copy desk chief Steve Noveck to begin the copy editor Thaddeus Rutkowski developers, the Related Cos. and Sterling Equities, but to in fact necessary data editor Suzanne Panara her credit, she seems driven to get a deal done rather than transformation adjustments to make assistant data editor Emily Laermer researchers Elena Popina, Eva Saviano sabotage a much-needed project that has eluded the city for the project of Willets Point ADVERTISING, MARKETING AND PRODUCTION decades. economically viable. senior account managers Irene Bar-Am, Willets Point, an industrial area near Flushing, is a stain For example, the mall David Harkey, Jill Bottomley Kunkes, Courtney McCombs, Suzanne Wilson on the city that many a politician has attempted to clean and parking lot—slated director of custom content Trish Henry up. Mayor Michael Bloomberg is the first to get a plan not for green parkland sales coordinator Lauren Black newsletter product manager Alexis Sinclair going to accomplish that, yet he has had to overcome but for what is already a parking lot—will generate revenue credit Todd J. Masura (313-446-6097) resistance from a few defiant industrial shops that prefer to fund decontamination of the land.The residential director of audience & content partnership development Michael O’Connor the status quo. component was pushed back until the new neighborhood is senior marketing manager It is a testament to the pluckiness of these folks that they ready because housing wouldn’t sell in a wasteland. Catherine Schutten director of conferences & events have carved out profitable operations there, but they must And this site is a wasteland. Selfish efforts to keep it that Courtney Williams accept that a first-class city cannot tolerate the conditions way must be overcome. reprint sales manager Lauren Melesio production and pre-press director Simone Pryce advertising production manager CRAIN’S ONLINE POLL COMMENTS Suzanne Fleischman Wies ONLINE AND INTERACTIVE SERVICES senior web developer, interactive Chris Tumminello TO SUBSCRIBE: Funny money For print and digital subscriptions or customer service, e-mail [email protected] A TAXING SITUATION STACKING THE DECK ● Making changes at the last or call 877-824-9379 (in the U.S. and Canada) or minute so they will be hidden 313-446-0450 (all other locations). $3.00 a copy for In speaking about high-salaried In its all-out drive to build from lawmakers and the public. the print edition; or $99.95 one year, $179.95 two years, for print subscriptions with digital access. bloomberg news ● basketball players playing in casinos, the Cuomo Suspending the required www.crainsnewyork.com/subscribe New York, Greg David states administration keeps loading three days of public review. IS IT WORTH SHUTTING TO ADVERTISE: in his Sept. 23 column the dice in its favor. Rather than ● Promising Indian casinos DOWN THE GOVERNMENT (“Russian billionaires won’t fix a simple, factual description, the exclusive zones only if they Contact Trish Henry at [email protected] or call 212-210-0711. TO STOP OBAMACARE? income gap”) that “their Nov. 5 referendum uses rosy don’t fight the amendment. www.crainsnewyork.com/advertise accountants keep careful track wording: “The proposed ● Dropping a vital anti- Yes. Obamacare will cause layoffs and force of where they are every day, so amendment … would allow the corruption provision of the law FOR INFORMATION ON OUR EVENTS: people to pay for health care even if they don’t they pay income taxes only for Legislature to authorize up to that prohibits campaign contri- Contact Courtney Williams at [email protected] or 212-210-0257. want it or can’t afford it. It should be delayed the days they work in New seven casinos in New York state butions from casino interests. www.crainsnewyork.com/events until it can be overturned. York City.” for the legislated purposes of ● Including a “poison pill” that TO CONTACT THE NEWSROOM: No. The Affordable Care Act is the law of the New York City repealed its promoting job growth, allows a huge expansion of nonresident earnings tax many increasing aid to schools, and video slots if the amendment 711 Third Ave., New York, NY 10017-4036 land. It was passed by Congress and upheld years ago. City taxes would be permitting local governments loses. Mr. Cuomo wins, what- editorial phone: 212.210.0277 by the Supreme Court. It should not be held fax owed only by one who is a to lower property taxes through ever the voters say. 212.210.0799 Entire contents ©copyright 2013 Crain Communications Inc. hostage to an unrelated budget bill. ● statutory resident or domiciled revenues generated.” Keeping potential locations All rights reserved. ®CityBusiness is a registered trademark Date of poll: Sept. 30 in New York City, and they The claimed benefits are open, thereby paving the way of MCP Inc., used under license agreement. 519 votes would be owed on all income controversial and not in the for corruption in site selection. CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS regardless of where it was language of the amendment ● Not guaranteeing local refer- endums on possible sites. chairman Keith E. Crain earned. Nonresidents do not passed by the Legislature. (The president Rance Crain ● 26% pay a city tax even on the days other four referendums avoid Banning casinos in NYC for treasurer Mary Kay Crain Yes they work in New York. His loaded language.) Add it to the five years to lull city voters. Cindi Crain ● statement would be accurate list of deceptions and evasions Putting the amendment at executive vp, operations William Morrow for taxes paid by a nonresident Gov. Andrew Cuomo has used: the top of the ballot, not in the executive vp, director of strategic to New York state, however. ● Saving passage of the casino usual chronological order. operations Chris Crain 74% senior vp, group publisher Gloria Scoby No —john p. lane amendment and enabling leg- Voters should reject the Tax partner islation until the last day of Cuomo casino steamroller by vp/production, manufacturing David Kamis Private Company Services the legislative session. voting no on Nov. 5. founder G.D. Crain Jr. (1885-1973) PricewaterhouseCoopers ● Not holding public hearings. —arnie lieber chairman Mrs. G.D. Crain Jr. (1911-1996) secretary Merrilee Crain (1942-2012)

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12 | Crain’s New York Business | October 7, 2013 RICHARD BECKER, M.D., PAMELA BRIER critically ill, increasing costs that everyone shares. AND WENDY GOLDSTEIN ● What’s to be done: Sensible approaches to the crisis have been offered by the state Commission on Health Care Facilities in the 21st How to fix Brooklyn’s Century and the Brooklyn Work Group, a task force of the state’s Medicaid Redesign Team. What hospital crisis they share, and what the center- piece of any solution should be, is NEW DATA CENTER OPENS building a viable health care infra- IN LOWER MANHATTAN t a time when Brooklyn is undergoing a remark- structure, coordinated by a network of hospitals and ambulatory sites able renaissance,with New Yorkers routinely trav- that will not be fiscally punished for eling here for food, culture and housing, why is its being in an “outer borough.” o help New York City firms keep their Clients have access to conference rooms health care in such a perilous state? As CEOs of Looming changes mandated by Tdata secure and accessible in an emer- and staging space, with dedicated three of Brooklyn’s largest hospital networks, the Affordable Care Act,such as the gency, Time Warner Cable Business internet and Ethernet access from Time loss of disproportionate share dol- Class, a premier provider of business com- Warner Cable Business Class. An on-site Awe’ve seen four hospitals shut or face imminent closure. Sever- lars (money for the care of poor peo- munications solutions, recently opened its tech team provides “remote hands” around al others are on the brink of bankruptcy. ple), will worsen the crisis. energy-efficient data center at 395 Hudson the clock to those who can’t come to the But why should anyone care—can’t Brooklynites just travel It is time to turn from rancorous Street in the heart of Lower Manhattan. premises but need someone to work with politics to rational policies—to shift their equipment. to hospitals elsewhere? And what can the same procedure, at times by the from quixotic attempts to prop up The pristine, 17,000-square-foot coloca- be done to address the crisis and safe- same physician, the care provided in failing institutions to a strategic use of tion facility offers companies of all sizes For companies looking to make their IT sys- guard future health care services in Manhattan is reimbursed by insurers state resources to create a sustainable the ability to rent premium storage space tems redundant, the center offers an ideal the city’s most populous borough? at a significantly higher rate than in health care model. A federal Medic- for their servers and other IT assets at solution. Built on a seven-foot concrete ● What went wrong: Brooklyn’s popu- Brooklyn, despite statistics showing aid waiver New York has requested competitive prices in a building offering slab floor at a location 59 feet above sea lation is an amalgam of the well as good or better patient outcomes in will go far to advance these goals, and high-level security. level and equipped with two powerful back- insured, government insured and many Brooklyn hospitals. we urge Washington to approve it. “Information technology is the lifeblood of up generators, the facility did not suffer uninsured. We welcome them all. ● Why New Yorkers should care: If Brooklyn has produced world- any business, and protecting these assets flooding or power outages during Hurricane But as the well insured are siphoned Brooklyn’s hospitals continue to class artists, athletes, academics and in a secure data center is a high priority in Sandy. For more information about intro- off to other places, Brooklyn is left struggle, the impact will be felt entrepreneurs, not to mention today’s business world,” said Ken Fitzpat- ductory rates, call 1-855-832-0623 or visit with a financially nonviable mix of throughout the metropolitan area. equally great physicians and nurses. BUSINESS.TWC.COM/COLOCATION. payers. With Brooklyn’s high num- Where will babies be born? How Now is the time for New York’s most rick, Chief Operations and Transformation ber of Medicare and Medicaid will people suffering strokes or vibrant borough to have a health Officer, Time Warner Cable Business Class. patients, reduced federal reimburse- heart attacks get care in time? Can care system that is the pride of our ment rates have taken a severe toll. hospitals elsewhere absorb Brook- shining—and hip—city on a hill. BUSINESS.TWC.COM/COLOCATION Furthermore, Brooklyn hospitals lyn’s mental-health patients? and physicians suffer lower reim- When quality care is unavailable in The authors run Brooklyn Hospital Center, bursement for services. When pa- large communities, people delay Maimonides Medical Center and Lutheran tients with the same insurance receive seeking care and some become Medical Center, respectively.

any age group. As a demographic, Millennials more they had the second-most-favorable view of Mayor Michael Bloomberg. In a scratch-your-head result, they liberal? Think again are less worried than others that New York is becoming unafford- able,even though they are the group that is most affected by the rising ill de Blasio’s stunning victory in the Democratic cost of living. mayoral primary and likely victory in November This does not add up to an angry has upended New York City politics for sure. movement ready to turn national Many political experts see the result as a water- politics upside down. What makes this more interest- shed nationally,too—the revival of the liberal wing ing is the economy has been a big Bof the party that now can come up with a candidate who can problem for many young people beat Hillary Clinton.And the reason,goes this line of thinking, here. Almost one in five New York- is that the millennial generation, whose long-term prospects ers between ages 20 and 24 are un- employed, says the Fiscal Policy In- stitute,and when they lose their jobs have been damaged by the Great they typically remain unemployed Recession, are mobilizing behind for more than 35 weeks. My guess is progressive policies. It is the thesis these young people didn’t vote or get of a widely discussed article in The polled; the result reflects the atti- Daily Beast by Peter Beinart, who tudes of young professionals. just happens to be my colleague at By the way, the polls also show the CUNY journalism school. that millennials strongly support It’s a good story. Unfortunately, more bike lanes.They are big fans of it just isn’t true, at least not in New expanded recycling. They are skep- York,according to an election-night tical of the police but only margin- exit poll and other polling in the ally more than others are. They weeks before the vote. smoke, and don’t want more restric- Let’s begin with a simple fact: GREG DAVID tions on doing it. And they really Young New Yorkers didn’t vote in don’t like baseball. any large numbers in the Democra- Bill de Blasio’s campaign for tic primary.They made up only 11% strongest backing came from people mayor did echo national themes,but of the total count, compared with between ages 45 and 64. they played out in New York in a 19% in the last presidential election. Millennials in New York City are very particular way. There is simply They didn’t support Mr. de Bla- not terribly disaffected, either. A no evidence that his victory will sio in any outsize way. He got 39% majority said in pre-election polls mean anything in the 2014 Senate of the millennials’ vote—about the the city was headed in the right di- and House races,much less the 2016 same as his winning percentage.His rection—the highest percentage of presidential campaign.

October 7, 2013 | Crain’s New York Business | 13 REAL ESTATE DEALS

50, will serve as ESRT’s top execu- concerns institutional investors had BARE BONES tive, faced several challenges in a about the deal,”said analyst Michael Empire State Bldg. nearly two-year process to create Knott of Green Street Advisors. 64 WOOSTER ST. the REIT. The Malkin family’s In initial trading, however, in- ASKING RENT; stake in the REIT is reportedly vestors seemed willing to buy into TERM: $230 per square foot; 15 worth nearly $500 million at last the opportunity the new REIT years IPO yields low price Wednesday’s share price. could give them to have a stake in SQUARE FEET: Analysts said the lower share New York City real estate that has 13,500 he initial public offering of a real estate investment trust that in- price out of the gate could be a re- consistently risen in value. Shares cludes the Empire State Building as its centerpiece launched Oct. flection of the fact that Mr. Malkin rose about 3% during the first day of TENANT; REPS: Glasgow Caledonian University; Zev Holzman and Paul 2. Underwriters for the IPO—the biggest new REIT in the city has never managed a public compa- trading before settling back down to Revson of Studley in more than a decade—priced shares at $13, the low end of es- ny. The structure of the REIT also a low of $13 a share late last week. LANDLORD; REP: Zar Properties; Marc timates for the stock. Overall, $929.5 million was raised. differs from other major New York Mr. Malkin has also shown he Simon of Isaacs & Co. The Empire State Realty Trust includes a collection of 18 office build- public real estate firms in that the has the ability to improve assets. In T BACK STORY: Glasgow Caledonian ings, mostly in midtown, and the 102-story landmark office tower it is Malkin family has an outsize 25% recent years, he ushered a $500 mil- University, one of the largest named after.The architect of the IPO, Malkin Holdings, which held a con- controlling stake in the company. lion transformation of the Empire universities in Scotland, will offer trolling stake in the properties and whose chief executive, Anthony Malkin, “The pricing reflects a lot of the State Building from an antiquated classes in areas such as fashion business, luxury-brand management and marketing at its New York location, according to The Wall Street Journal.

property with considerable vacan- cies to a modern office property with major corporate tenants. Sup- More than a porters of Mr. Malkin argued that loan. the REIT would simplify the sprawling ownership structure of the 19 properties, which were owned by thousands of sharehold- An in ers, and raise capital for further im- investment provements of the portfolio. Dissenters argued that the $13 share price equated to about 30% less than private offers for the build- your ings, including a $1.4 billion bid by business. investor Joseph Sitt to acquire all the private shares in the Empire State Building weeks before the IPO. The stock sale is being used to largely cash out the estate of Leona Helmsley, who held a controlling interest in the portfolio. Mr. Knott calculated the estate will net about $660 million in the offering. —daniel geiger Store sets up Chelsea flagship Home-goods retailer Room & Board has signed on for 60,000 square feet at 249 W. 17th St., between Seventh and Eighth avenues. The 20-year Raise the green flag. lease includes space on the first, sec- ond and third floors.The asking rents At M&T Bank, we know that business is the lifeblood of a strong for retail space at the property are more than $110 per square foot. community. That’s why we have an unwavering commitment Though the Minneapolis-based company will continue to operate its New York showroom on Wooster to supporting small business. While we’re a leading small business Street in SoHo,the Chelsea outpost will become its main flagship. 1 lender nationally, we still make our lending decisions locally. “Chelsea is a thriving area,” said John Gabbert,CEO of the 12-store And right now, we can help you take advantage of historically low chain, noting the neighborhood’s collection of residential high-rises, interest rates. Find out how M&T’s expertise and award-winning warehouses and art galleries. Room & Board competitor Bo Concept is service2 can help your business today. also located nearby, as is the crowd- attracting Chelsea Market. After purchasing the 249 W. 17th St. property, along with the adjacent 245 W. 17th St.—both totaling 284,000 square feet—last November, real estate firm Savanna has reportedly spent $21 million to renovate the space. The buildings Call 1-800-724-6070 or visit raisethegreenflag.com. originally served as a wagon house and as a dry-goods warehouse for former department store Siegel- 1 According to statistics released by the Small Business Administration (SBA) for total approved loans through the SBA’s 7(a) lending program during the fiscal year ending 9/30/12. Cooper Co. 2Based on Greenwich Associates 2012 Small Business Banking Excellence Awards. All loans and all terms referenced herein are subject to receipt of a complete M&T application, credit approval and other conditions. Other terms, conditions, fees and restrictions may apply. All advertised offers and terms and conditions of accounts Savanna was represented by and services are subject to change at any time, without notice. After an account is opened or service begins, it is subject to its features, conditions and terms, which are subject to change at any time in accordance with applicable laws and William Stempel of McDermott agreements. Please contact an M&T representative for full details. Will & Emery. Brokers at CBRE ©2013 M&T Bank. Member FDIC. Group represented Room & Board. —adrianne pasquarelli

14 | Crain’s New York Business | October 7, 2013 SPACE RACE: Convene’s Ryan Simonetti (left) and Chris Kelly rapidly filled a gap in short-term meeting facilities in the city. buck ennis

What it does: Develops and operates CONVENE urban conference centers, aimed at Meet the Fast 50 brief corporate events THE COMPANIES on our second annual Fast 50 list make it look easy HOW IT GREW: to grow a company, but don’t let that fool you. They face plenty of While working in real estate finance, Ryan Simonetti noticed obstacles in New York’s competitive marketplace. What separates that it was hard to find space for one-day meetings and conferences in New them from the pack is the vision of their leaders—and their teams’ York. Hotels were fleeing the conference business at the same time that ability to “scale up.” Every firm on our list had more than 100% companies were trying to shed their internal meeting spaces. He turned to revenue growth for three consecutive years, unless we made an frat brother Chris Kelly, then running a private-jet charter exception and admitted one with less time in business. Principals: Chris Take the young founders of this year’s top-ranked company, business in Aspen, Colo., about joining forces to start a Kelly and Ryan company providing corporate conference spaces to address Simonetti Convene. Noticing a shortage of meeting space for one-day events in Headquarters: the city, they set out to fill the gap. They were onto something—and the gap in the market. In 2009 they started Sentry Centers, Manhattan the firm saw sales skyrocket by 3,436% from 2009 to 2012. which they more recently renamed Convene. Three-year growth Refinery29 (No. 3) spotted an opportunity to stand out in the 1 rate: 3,436% overcrowded fashion media with a site offering a mix of news, dish It was a smart move. Revenue has grown 3,436% over the past three 2012 revenue: years, to $15.6 million, placing the company at the top of Crain’s Fast $15.6 million and shopping that has won many fans. It saw revenue grow 2,301% Profitable? Yes over three years, to $16.6 million in 2012. 50 list.The founders also made it onto the 2013 Crain’s Top Local employees: Some found opportunity in tackling problems that have lingered Entrepreneurs list. 72 Total employees: since the recession. To help business owners who could not get bank The partners credit much of their success to doing extensive loans, OnDeck Capital (No. 10) stepped up with its own—and saw 77 (starting in research, which has provided invaluable insight into what makes for the January 2014) 841% revenue growth, to $36.7 million in 2012. Website: convene This year’s list is more competitive than last year’s. For the first perfect conference space.To that end, they hired Joyce Bromberg, .com time, we pulled in publicly traded firms. We also drafted a few former director of research at Steelcase, as their vice president of Twitter: @Convene companies that didn’t enter on their own, because we decided they strategy and research. As a result of their efforts, each center has mostly were too important to ignore. If you’re looking for ideas on how to expand your own business, the stories of how they have powered their natural light and prized amenities like built-in audiovisual equipment. “We have studied phenomenal growth offer some great lessons—the kind they don’t precisely what meeting planners need and delivered it to them,” said Mr. Kelly. always teach you in business school. The company now runs conference centers in four locations in New York, including its newest, a 20,000-square-foot space at 101 Park Ave. set to open by the end of the ONLINE CAN’T GET ENOUGH OF THE FAST 50? Hear more about year. And it plans to unveil its first location outside the Big Apple, a 15,000-square-foot the winners at CrainsNewYork.com/podcasts. View a video on how CEOs manage fast growth at CrainsNewYork.com/Fast50. facility in Tysons Corner, Va., in 2014. —anne field

October 7, 2013 | Crain’s New York Business | 15 NO BARRIERS TO GROWTH: Will Dean built adventure-race company Tough Mudder with an eye toward scaling up. buck ennis TOUGH MUDDER What it does: Organizes obstacle-course races DATALOT focused on team building What it does: Online customer acquisition HOW IT GREW: Will Dean’s lightbulb entrepreneur,” said David Godes, Mr. Dean’s faculty moment struck while he was running a adviser at Harvard and now an associate professor at platform triathlon: Competitors, obsessed with their the University of Maryland Smith School of Business. times, weren’t stopping to help a man whose “After the fourth or fifth event, he was thinking about HOW IT GREW: When 2 wet-suit zipper was stuck. “There was the best way to get to the 20th, 30th and 40th.” companies invest in absolutely no collegiate element to the Mr. Dean, a 2012 Crain’s 40 Under 40, says that online pay-per-click event,” said Mr. Dean. After graduating from Harvard building back-end business processes that are identical advertising, the 50 Business School in 2009, he launched Tough Mudder, no matter where an event is taking place has helped the 4 important thing is not an obstacle-event firm that promotes camaraderie by firm scale up quickly. So has fostering a corporate the click, but whether a giving participants “collective memories with culture where employees, most of them under purchase happens afterward. HOW WE CEO: Will Dean their friends” through conquering military- Headquarters: 30, “see problems as opportunities rather than That simple but often CHOSE inspired barriers. Brooklyn stressful things,” he said. Many of Tough overlooked fact prompted two- Based in Brooklyn,Tough Mudder has Two-year growth Mudder’s employees are recent college grads time entrepreneur and ad-tech THE WINNERS tapped a fast-growing segment in participa- rate: 3,291% or come from demanding employers such as veteran Josh Reznick to build tory sports. According to the Sports and 2012 revenue: the Army.Tough Mudder received more than Datalot, a “pay-per-call” platform. COMPANIES Fitness Industry Association, last year there $75.6 million 50,000 résumés last year. The company uses the data it in the Fast Profitable? Yes were 1.6 million participants in adventure The company had to regroup after a gathers to identify the clicks most 50 had to have annual Local employees: races in the U.S., a 35% increase over 2011. 136 tragedy in April, when a man at a Tough likely to turn into paying revenue of $10 million Tough Mudder, where contenders run, climb Total employees: Mudder event drowned after jumping into a customers, figures out how much or more for 2012, be and pull each other through a 12-mile course 154 water-based obstacle despite the presence of those clicks might be worth, and of obstacles, including fire and live electrical Website: lifeguards and a diver monitoring it. Local auctions off the located in the New York CEO: Josh Reznick wires, is expecting 750,000 customers this toughmudder.com sheriffs recently decided the case didn’t leads in real area (the five boroughs Twitter: Headquarters: year, up from 460,000 in 2012. Charging an @ToughMudder warrant criminal charges; Tough Mudder time. “People Brooklyn of Manhattan and entry fee of $85 to $180, the firm has been made some adjustments to the obstacle. shouldn’t be Three-year growth Nassau, Suffolk and profitable from day one; annual revenue grew to about Tough Mudder will hold 53 events this year, buying clicks,” rate: 1,953% Westchester counties in $76 million last year, from $2 million in 2010. including its first courses in Germany and in Australia’s said Mr. 2012 revenue: “Will is very long-term-focused for an Perth and Sunshine Coast. —maggie overfelt Reznick. $15 million New York, and Bergen, Publishers Profitable? Yes Local employees: Essex, Hudson, Morris that host the 30 and Union counties in What it does: Runs a popular online hub ads like Total employees: New Jersey). Companies Datalot, too, 40 REFINERY29 for fashionistas because by Website: were ranked by three- using it, they datalot.com year revenue growth HOW IT GREW: After starting out as a local magnet for advertisers, who provide 80% of its revenue.. can get three to Twitter: @Datalot from 2009 to 2012. shopping guide to independent designers and “We view commerce not just through the five times the retailers, Refinery29 has morphed transactional value of commerce but also revenue the typical click generates. Companies with into a lifestyle media company with Co-founders: through the engagement with users,” said co- That price advantage, along with exceptional two-year Philippe von 3 30 million unique visitors a year. Borries, Justin founder Justin Stefano (below, left). “A lot of the explosion of mobile search, revenue and revenue The highly trafficked Stefano scenarios we turn into marketing helped Datalot achieve a nearly growth were allowed to independent fashion site has grown more Headquarters: experiences.” 2,000% annual growth rate last than 2,000% in the past three years. Revenue Manhattan Technology plays a big role in getting the year. participate on a case-by- in 2013 will climb to $28 million, said co- Three-year growth formula right for each fashionista, and fueling rate: 2,301% The company earned a slight case basis if they had not founder Philippe von Borries (below, right). 2012 revenue: the site’s growth. In recent months, it has profit in 2012, but for now, said been in business three Driving the hypergrowth is a $16.6 million invested heavily in software that will drive Mr. Reznick, he’s focused on full years. package of commerce, Profitable? No more personalization, in new categories like growth, targeting new industries, fashion, culture and news Local employees: health and beauty and in a mobile app set to such as home-security installers, that is personalized for each 118 be released in the fall for the 40% of and providing seamless Internet- user. Many visitors are in the Total employees: customers who access it on mobile devices. to-phone service. 122 coveted 18- to 34-year- Website: “We are really digging deeper into “When the bank account is old age range, an refinery29.com personalization because it’s fundamentally growing, we’re not expanding fast audience that has Twitter: what we believe in,” said Mr. von Borries. enough,” he said. winnie au made the site a @Refinery29 —judith messina —judith messina

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HOW IT GREW: When CCRE launched in said Mr. Orso. “The key to our business is the people, 2010, the real estate market hadn’t yet and that’s been our biggest advantage—the ability to recovered from its collapse in 2008, yet that hire people when others haven’t been able to.” wound up being a lucky break for the To fuel its growth, CCRE has been able to company. capitalize on the years of industry 5 CEO: Anthony “When we Orso experience and contacts that its team started hiring in 2010, Headquarters: has maintained.That widespread others weren’t, so it Manhattan bench strength has also enabled gave us a big Three-year growth CCRE to build a strong presence in 50 competitive advantage,” rate: 1,816% many geographic markets. SLEEPER HIT: BedGear’s 2012 revenue: said CEO Anthony Because CCRE isn’t a bank, it technology, which keeps $178.6 million customers cool while they Orso. Profitable? Yes isn’t subject to the mandates found in snooze, has helped it win With so much Local employees: Basel III or the Dodd-Frank Act, 34 fans quickly. talent on the street, the 73 which contain comprehensive NUMBER of Fast 50 Cantor Fitzgerald Total employees: banking industry reforms. “We are a 106 companies based in affiliate was able to private company, so we don’t have Manhattan quickly put together a Website: ccre.com those regulatory requirements.That

istock Twitter: None BEDGEAR top-notch, nationwide means we can use our capital where origination team. It employs more than 100 people, we see fit,” said Mr. Orso. “And that helps us grow the What it does: Sells focused on mortgage-backed securities. “This was at a business.” pillows, sheets and time when many of our competitors weren’t hiring,” —eilene zimmerman 9 COMPANIES based mattress protectors made in New York suburbs with the company’s INTEGRAL AD SCIENCE What it does: Media valuation platform comfort-enhancing for the advertising industry Dri-Tec technology HOW IT GREW: Integral Ad Science has worked in advertising for two decades. “Everyone 4 HOW IT GREW: Bedgear expanded by thinking beyond its here believes we’re helping transform the HQ’D in Brooklyn CEO Eugene Alletto niche. Formerly known as AdSafe, CEO: Scott Knoll industry; we feel like we’re living in says the company looks at the company began by helping Headquarters: Florence during the Renaissance.” sleep as an activity, one online advertisers steer clear of Manhattan Roughly 75% of Integral’s clients use that is made better if heat Two-year growth 6 brand-injuring sites. But in recent more than one of the company’s products, 8and moisture can be kept at bay. rate: 1,618% 1 years, Integral has created products that help 2012 revenue: Mr. Knoll said. Integral has also begun IN the Bronx The company’s products use a brands avoid not only distasteful ad $12 million adding clients overseas, on the premise that moisture-wicking, heat-regulating placements but also ineffective ones. A Profitable? No online advertisers have the same basic synthetic fabric to do that; its scoring system, for example, uses data to rank Local employees: needs.The company has 10 employees in pillows also online advertising opportunities, 59 the U.K. and partnerships with firms in have Total employees: downgrading sites with fraudulent traffic. 70 Australia and Japan. With so many 1 ventilation Website: IN “We’re investing in data science and integralads.com opportunities, Mr. Knoll said, Integral’s Queens panels. moving away from reactive reports that look Twitter: biggest challenge is focus. Mr. in the past,” said CEO Scott Knoll, who has @Integralads —ken christensen Alletto attributes 1 Bedgear’s IN New Jersey suburbs rapid growth to its “sleep curriculum,” CEO: Eugene Alletto We share your a sales Headquarters: What it does: process it Farmingdale, L.I. FAB Online seller created to Three-year growth rate: . educate and 942% PASSION FOR SUCCESS of trendy lifestyle and support 2012 revenue: $25.2 home products retail million partners. Profitable? Yes “Retailers Local employees: 33 HOW IT GREW: Total employees: 85 The will size a (includes independent NEW YORK, NY PAWTUCKET, RI BENSALEM, PA PORT WASHINGTON, NY brainchild of Jason pillow for sales contractors) SENIOR REVOLVING REVOLVER/ SENIOR SECURED REVOLVING Goldberg, Fab was customers, Website: bedgear.com CREDIT FACILITY TERM LOAN/ REVOLVING CREDIT CREDIT FACILITY EQUIPMENT LINE FACILITY transformed from explain the Twitter: $15,000,000 $25,000,000 $4,000,000 $81,000,000 7 Fabulis, a networking Dri-Tec @therealbedgear site for gay men, technology into a flash-sale and educate them about how heat ASSET-BASED FINANCING e-commerce site and moisture affect sleep,” he said. CEO: Jason for cool and “We provide the curriculum to the At Webster, we care about helping local businesses succeed. That’s why we Goldberg modern home retailer, who is then able to Headquarters: provide accessible financing that your business needs to achieve its goals. products in articulate our message to the Manhattan 2011.The site consumer.” Because of that, Talk with us today and together, we’ll find a way to make it happen. For more Three-year growth rate: quickly caught Bedgear’s products are sold only in information about our asset-based financing solutions, contact Warren Mino 1,178%* on with young stores with a high level of customer at 212.806.4500, or go to websterbcc.com for an application. 2012 revenue: professionals service and not at big-box retailers. $115 million* eager for its daily The strategy works, says Neil NEW YORK BOSTON HARTFORD PHILADELPHIA LONG ISLAND Profitable? deal, and Fab Zimmer, vice president and general Undisclosed Local more than tripled merchandise manager for Sleepy’s, Middle Market Banking Excellence Awards: employees: its revenue by one of the country’s largest mattress 224 Overall Client Satisfaction – National & Northeast 2012. But in retailers, headquartered in Total recent months, Hicksville, L.I. It sells Bedgear’s Treasury Management Overall Satisfaction – Northeast employees: 404 the company has products nationwide. “Bedgear has NYSE:WBS Website: suffered growing only high-performance products on ® fab.com pains and fallen the market, and mattress retailers Business Credit Websterbcc.com Twitter: @fab out of favor. have evolved to think about sleep *Crain’s estimate —adrianne beyond the mattress,” said Mr. All credit facilities are subject to the normal credit approval process. *The NYSE ticker symbol of WBS is assigned to Webster Financial Corporation and does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party pasquarelli Zimmer. “We consider them a and is meant purely for information purposes. pioneer in the industry.” Webster Business Credit Corporation is a subsidiary of Webster Bank, N.A. The Webster Symbol and Webster Business Credit are registered in the U.S. Patent and Trademark Office. See HIGH-FLYING FAB on Page 1 —eilene zimmerman

18 | Crain’s New York Business | October 7, 2013 One change can change everything Change is happening in big ways and small. Middle market companies are searching for the next disruptive innovations, looking to cloud-based solutions, eyeing foreign markets, considering M&A transactions. At Deloitte Growth Enterprise Services, we’re right there with you. Providing knowledge, insight, and services tailored to the changes you see in the world. And your company.

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Copyright © 2013 Deloitte Development LLC. All rights reserved. 36 USC 220506 Member of Deloitte Touche Tohmatsu Limited What it does: Makes organic food for What it does: Lends to small HAPPY babies, toddlers and young children ONDECK business using data and a FAMILY CAPITAL proprietary credit platform

HOW IT GREW: High demand by parents for healthy food and the HOW IT GREW: OnDeck Capital’s growing popularity of products in pouches have been major unique approach to making small- drivers of Happy Family’s growth for the past several years, said business loans has fueled rapid CEO Shazi Visram. “Parents really like the pouched foods growth. Its proprietary credit score because they are so convenient and portable,” she said. platform analyzes information such 9 as cash flow and public records That has put the company on the radar screen of 10 CEO: Shazi Visram bigger players. In May, French food company Danone data—and even Yelp and OpenTable reviews—to Headquarters: acquired more than 90% of Happy Family Brands, 50 assess the creditworthiness of a business, broadening Manhattan which will serve as its entrée into the American baby- the pool of potential borrowers.The company also Three-year growth food market. “Danone has a world-class research and streamlines the loan application process for business rate: ‘We bring 873% development team, which will help us owners in a pinch, approving up to $250,000 in a day. 2012 revenue: $62.7 million continue to innovate in a bigger nutritional CEO Noah Breslow said the platform lets OnDeck see CEO: Noah Breslow Profitable? Yes and better way,” said Ms. opportunities that traditional lending institutions Headquarters: Manhattan Local employees: 20 Visram. “We see real value in functionality overlook. that.” “There are literally thousands of places you can get a Three-year growth Total employees: 62 rate: loan,” Mr. Breslow said. “When you start to peel the 841% full-time employees; Happy Family has to the table’ 2012 revenue: 75 moms nationwide differentiated its products onion back, most traditional institutions are competing $36.7 million who market the from some other organic for the top 10% of borrowers.” products as “brand —Shazi Visram Profitable? No ambassadors” baby foods on the market by OnDeck said it had provided businesses with Local employees: part-time including “superfood” more than $600 million in capital to date—more 153 Website: ingredients, such as the than double a year ago. The average loan is $30,000, Total employees: happyfamilybrands nutrient choline, for a with annual interest rates around 15%. 204 .com Website: baby’s brain development, Lately, the company has ramped up marketing ondeck.com Twitter: and probiotics, for with radio advertising and targeted mail campaigns @HAPPYsuperfoods Twitter: immune system and in an effort to develop its brand, but has focused on @OnDeckCapital digestive health. “Organic just scratches the developing products to sell to existing customers. surface,” said Ms. Visram. “We also bring “It’s easier to sell customers more stuff than to acquire a new customer,” nutritional functionality to the table.” Happy Mr. Breslow said. Family also launched a line of Greek yogurt this Investors are paying attention to OnDeck’s growth. In May, Google year in pouches that have done “phenomenally HEALTHY GROWTH: Shazi Ventures led a $17 million round of funding, adding to a $42 million well,” she added. Visram’s organic baby- Series D round led by Institutional Venture Partners in February. —eilene zimmerman food firm expanded so fast —ken christensen that Danone swooped in.

What it does: Provides soup-to-nuts solar-power SUNNY OUTLOOK: ONFORCE SOLAR Charles Feit’s OnForce system installation Solar profited by winning an early share of New HOW IT GREW: OnForce Solar’s revenue through the learning curve.” York’s market. grew 811% in three years, to $18.2 The company also has benefited from a cornucopia million, thanks, in part, to the fact that of government incentives that, in the end, make it less it staked an early position in the New costly for customers to try solar energy. While York market. It’s a particularly commercial systems cost an average of CEO: 11 tough area to crack because of Charles Feit $300,000 to $2 million to develop, for Headquarters: the state’s high cost of doing business and Bronx example, the real price tag is considerably Three-year growth bureaucratic hoops. rate: 811% less, according Mr. Feit.That’s thanks to The company develops, designs, 2012 revenue: $18.2 such goodies as a grant of approximately engineers, finances, installs and maintains million 30% from the New York State Energy solar-energy systems for clients ranging from Profitable? Yes Research and Development Authority, a manufacturers to big-box retail stores. Local employees: 40 10% property-tax abatement in New York “Anyone with an electric bill and a roof can Total employees: 55 City and a 30% federal tax credit that is be a customer,” said CEO Charles Feit, Website: expected to be in place through at least named a 2012 Top Entrepreneur by Crain’s. onforcesolar.com 2016, according to market-research firm And because many customers prefer Twitter: @OnForce NPD Solarbuzz. doing business with local providers, Solar With a 7,500-square-foot office in the OnForce’s well-established position in New Bronx, opened in 2009, Mr. Feit has also York has given it a distinct competitive advantage. accomplished an additional feat: He has created jobs in “The barriers to entry are high here, compared to a borough with an 11.9% unemployment rate as of

other markets,” said Mr. Feit. “But we’ve already gone July, the city’s highest. —anne field buck ennis

What it does: Publishes news and events What it does: Curates BISNOW MEDIA touting North America’s commercial THRILLIST culture and clothing real estate industry for men

HOW IT GREW: Launched in its events tickets, which average $67 apiece, totaled HOW IT GREW: Thrillist, the lifestyle site for men, is back Washington, D.C., in 2005, Bisnow 60,000 in 2012—up from 8,445 in 2009—and account again for a second turn on the Crain’s Fast 50. Last year, Media branched out to New York in for about a third of company revenue.The rest comes its leap into e-commerce with online clothing company 2008, cramming five employees into a from event sponsorships and CEO: Ryan Begelman JackThreads drove major growth. Since then, the TriBeCa apartment right after the fall advertising for the more than 20 Headquarters: company has launched three more proprietary brands 12 of Lehman Brothers. It real estate newsletters Manhattan 13 for shoes and clothing, has a fourth was a smart move for the company, which around the country, Three-year growth on deck for gadgets and is noodling yet another, for CEO: Ben Lerer targets the commercial real estate industry which have more rate: 728% home goods. Headquarters: Manhattan with upbeat, hyperlocal e-newsletters and than 450,000 2012 revenue: Using content to lead subscribers to commerce has $10.9 million Three-year growth industry events notable for their informal subscribers. (Smaller been a winning strategy for Thrillist, driving revenue rate: 653% Profitable? Yes atmosphere—and modest ticket prices. newsletters target growth of 61% last year.This year, founder and CEO 2012 revenue: “There was never a time when the hotels, nonprofits and Local employees: 31 Ben Lerer expects to double that top line. $52.6 million industry needed our brand of community building other sectors.) Total employees: 73 “We aren’t just amusing and entertaining these Profitable? Yes Website: Local employees: more,” recalled Ryan Begelman, who was named chief “We crawled out of the bisnow.com guys, but delivering functional, serviceable executive earlier this year after founder Mark Bisnow recession with the industry and information that leads guys to action,” said Mr. Lerer, 200 Twitter: @Bisnow Total employees: became chairman.The company is now headquartered found a way to grow,” Mr. a 2010 Crain’s 40 Under 40. “That’s been a 250 in Manhattan. Begelman said. Mr. Bisnow now plans to expand to differentiator with advertisers. When we’re talking to Website: Bisnow’s revenue has grown by more than 700%, to Vancouver, Pittsburgh, Phoenix and San Jose, Calif. our guys, they have their wallet in their hand.” thrillist.com nearly $11 million, during the past three years. Sales of —matthew flamm —judith messina Twitter: @Thrillist

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Products and services not available in all areas. Actual speeds may vary. Some restrictions apply. Time Warner Cable Business Class is a trademark of Time Warner Inc. Used under license. ©2013 Time Warner Cable Enterprises LLC. All Rights Reserved. ADEN + ANAIS What it does: Sells muslin What it does: Uses data and testing to blankets, bibs and MAXYMISER determine what content to show to online sleepwear for babies consumers HOW IT GREW: Creating a CEO: Mark Simpson clients convert more prospects into HOW IT GREW: When Raegan CEO: Raegan positive customer experience Headquarters: customers and keep them engaged. Moya-Jones’ first daughter was Moya-Jones is the new mantra for Manhattan In the online world where competitors Headquarters: Three-year growth born a decade ago, she searched Brooklyn companies selling products rate: 644% are just a click away, personalization is U.S. stores for the soft muslin Growth rate: 651% online, but figuring out what 2012 revenue: becoming more and more important. swaddling blankets ubiquitous to 15 works can be an exercise in Maxymiser’s growth is a testament to that. 2012 revenue: $15.7 million 14 $29.9 million her native Australia, but came up frustration. Maxymiser is helping to ease the Profitable? Yes As of this past June, its revenue had doubled empty. It was then that she knew she had to launch a Profitable? Yes pain by using big data and sophisticated Local employees: 47 year over year, and its client roster had product that would resonate with American Local employees: 35 testing to personalize the experience for each Total employees: tripled. parents—mostly because there would be nothing Total employees: 53 customer. 220 Founded in London, the firm moved its Website: Website: else like it in the market. adenandanais.com “The big problem we’re solving is that headquarters to New York in 2011. Plans for Today, Aden + Anais, the brand Ms. Moya-Jones online companies have to provide the best maxymiser.com the coming year include what Mr. Simpson Twitter: Twitter: @maxymiser founded in 2004, has nearly $30 million in annual @adenandanais experience, but they have only a short period calls “some highly disruptive products.” sales and sells to more than 10,000 retailers globally. of time to do that,” said founder and “Our clients’ frustrations are with Items from the company’s stock of floral blankets and President Mark Simpson. customer-relationship management systems in terms alphabet bibs are coveted items on many young What’s Maxymiser’s recipe? Data and testing. By of optimizing operations online,” said Mr. Simpson. parents’ baby registries. using data to profile website visitors and then “You’ll see us expanding our product set to cover “She was absolutely the first mover in bringing constantly testing—and changing—the content those issues.” muslin as a concept to the world of baby presented to them, the company has been able to help —judith messina here,” said Ali Wing, founder of upscale baby boutique Giggle, which started stocking Aden + What it does: Creates proprietary tablet and Anais seven years ago. “And SCROLLMOTION smartphone apps for private companies she’s gone broad—you can get Aden + Anais in Target and HOW IT GREW: When Fortune tide,” Mr. Furbish said. Costco right up to Giggle.” 500 companies like Campbell’s, The company has its roots in publishing. Co- Aden + Anais got Mercer, General Electric and founder and Chief Creative Officer Josh Koppel another boost over the Clorox want to develop in-house, helped create the technology to power digital summer when Britain’s 16 employee-only iPad editions for firms like Hearst, Random Prince George emerged apps, they turn to CEO: Dean Furbish House, Houghton Mifflin, Simon & from the hospital ScrollMotion. Headquarters: Schuster and the Jim Henson Co. wrapped in the brand’s “We put cool apps on tablets for Manhattan Building on that success, Mr. Furbish, a bird-printed blanket. enterprises,” said Dean Furbish, CEO. Three-year growth former executive at food-delivery business rate: 625% “What royal baby Its business model is particularly 2012 revenue: FreshDirect, came onboard to help ever comes out in buoyant.Tablet sales outpaced laptop $11.6 million ScrollMotion expand into proprietary app anything but a white sales last year and are expected to Profitable? Yes development. And now it has its sights set blanket?” asked Ms. outdistance both laptop and PC sales Local employees: on Wall Street. Moya-Jones. “But it’s by 2015. Companies are beginning to 100 “The enterprise space is up for grabs,” been a wonderful thing see the advantages of purchasing tablets Total employees: Mr. Furbish said. “If you want a rotating, 140 for the business from a in bulk for their employees to use for a Website: three-dimensional, anatomically correct brand perspective.” variety of tasks, from accounting to client eyeball, you’re not going to build that FIT FOR ROYALTY: Prince George scrollmotion.com —adrianne was swathed in Aden + Anais. management to product development. Twitter: yourself. You’re going to ask us to do that.” pasquarelli “We’re in a bay with a rapidly rising @scrollmotion —andrew j. hawkins getty images We are Gifts. We are Rymax.

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866-879-2241 | www.rymaxinc.com/crains Copyright © 2013 Rymax Marketing Services, Inc. All rights reserved.

22 | Crain’s New York Business | October 7, 2013 ADMARKETPLACE.COM What it does: Syndicates search advertising

HOW IT GREW: Google, CEO: James W. Hill A major overhaul to its tech platform, Yahoo and Bing are far Headquarters: introduced early in 2012, helped fuel the from the only places where Manhattan company’s 489% three-year growth rate. Three-year growth consumers search online rate: 489% The innovation, called adMarketplace today. Plenty of hunts 2012 revenue: Advertiser 3D and about a year and a half 18 occur on sites such as Undisclosed in the making, lets advertisers price Amazon and eBay. Profitable? Yes searches by keyword, source and the user’s About 13 years ago, former marketing Local employees: 125 device—say, iOS or Android—depending executive James W. Hill founded Total employees: 133 on their value and performance. Also Manhattan-based adMarketplace to take Website: driving growth is the increase in the 50 advantage of the advertising potential in such admarketplace.com company’s mobile business, which went to MEDIAMATH Twitter: What it does: searches. He invested in creating his own @adMarketplace 15% in total revenue from 3% in one year, Enables technology platform for providing pay-per- according to Mr. Hill. Cost per click grew marketers to buy click advertising on sites other than the usual search on average about 120% year over year, he said. 6 targeted ads online engines. His system allows for a nuanced pricing “Technology is a living, breathing animal,” Mr. Hill WOMEN CEOS lead Fast 50 system, based on the value of traffic from a specific site said. “You’ve got to realize that your development firms, in fields ranging from HOW IT GREW: If for a particular client. work never stops.” —anne field staffing to finance software is eating the world, as Marc Andreessen famously wrote, 17 MediaMath may have the traditional marketing business for lunch. CEO Joe Zawadzki went into online marketing after a short career as an investment banker. WE ARE PLEASED TO ANNOUNCE A NEW PREMIER LOCATION Before that, he was a teaching fellow in cosmology at CEO: Joe Zawadzki Headquarters: Harvard. Manhattan MediaMath Three-year growth created rate: 553% algorithms that 2012 revenue: allow marketers $135.2 million to buy Profitable? Yes Local employees: publishers’ ad 132 space in a very Total employees: targeted way. 300 The company Website: and its peers are mediamath.com at the forefront Twitter: @mediamath of technological advances that are making brand marketing as quantifiable as direct-response advertising. “You still have marketers that City National is expanding its commitment to the city. Now offering complete business and cling to the pure magic of marketing—that it’s all the big personal financial solutions at a new premier location – 6th & 44th. We invite you to drop by creative idea, and that can’t be to find out how City National can help you achieve your financial objectives. predicted in advance or measured after the fact. It’s the marketing equivalent of the cosmologist today who still believes in celestial spheres,” Mr. Zawadzki said. Experience the City National DifferenceSM Mark Ribaudo, senior director of small-business marketing for Pitney Bowes, said the Joe Sedillo, SVP & Manager manufacturer of mail machines 1140 6th Avenue saved 30% to 40% by switching to (212) 597-0107 MediaMath’s platform, and can now precisely target businesses [email protected] with 20 employees or fewer. cnb.com/ny MediaMath remains a leader even against players such as Turn and Google. Backed by venture- capital firms that include Safeguard Scientifics and QED Investors, it seems on a clear path to an IPO. Mr. Zawadzki said part of the company’s value comes from its ability to sync with publishing platforms and the way it combines different marketing tools. It acquired a big data- Bank City National ©2013 management unit for $43.97 million earlier this year. Yet Mr. Zawadzki doesn’t believe that marketing is all data and math. He explains City National New York CNB Member FDIC MediaMath’s products as ingredients in a recipe: The sum is greater than the parts. “Pure math tells no stories,” he said. —elizabeth macbride

October 7, 2013 | Crain’s New York Business | 23 ACORDA THERAPEUTICS What it does: Develops neurological drugs INTELLIGENT

HOW IT GREW: Acorda Therapeutics’ Though that drug, marketed by Acorda as Ampyra, PRODUCT founder and chief executive, Dr. Ron has not panned out for spinal-cord treatment, it has SOLUTIONS Cohen, got sidetracked from his plan worked in managing the symptoms CEO: Dr. Ron Cohen to practice internal medicine when he of multiple sclerosis. It relieves the Headquarters: What it does: Product- joined a group of researchers working muscle spasms that plague these Ardsley, N.Y. development company 19 to culture skin tissue. It was a life- Three-year growth patients. that offers end-to-end altering move, he said, and not just because that Since it got FDA approval in rate: 459% research was successful. “I got introduced to the 2012 revenue: design and engineering 2010, the drug’s sales have grown $305.8 million biotech industry, and I found the whole notion of steadily, to more than $285 million. Profitable? Yes services gathering talent, finding the best research in various Dr. Cohen believes that Acorda 50 Local employees: labs, and getting funding from venture-capitalist will be able to repeat its 224 HOW IT GREW: risk-takers very exciting.” success with other neurology Total employees: Mitch Maiman He was one of the principals who took that drugs. “We want to harness 365 and Paul Severino BUSINESS company (Advanced Tissue Sciences) public. In the genius of a wide array of Website: spent enough time acorda.com INSIDER 1993, Dr. Cohen used the proceeds to found people in multiple fields to Twitter: as executives at Acorda. create therapies for the 21engineering @AcordaNews What it does: News site Long fascinated by neurology, Dr. Cohen nervous system never companies to know one thing: that covers business, began to focus on drugs that showed promise possible before,” he said. “We want to Dealing with outside contractors in treating spinal-cord injuries. He started push frontiers back, one mediation was an enormously inefficient technology, advertising, with a compound known as dalfampridine. after another.” —gale scott process.That’s because they had to politics and other subjects hire different firms to handle different needs—industrial design, HOW IT GREW: TOWER LEGAL What it does: Provides legal staffing for litigations, say, or electrical engineering. And Like many of acquisitions and mergers they found that the tech most outfits Founders: Mitch companies it SOLUTIONS Maiman, CEO and usually deployed president; Paul covers, HOW IT GREW: Leslie pharmaceutical industries. inexperienced Severino, executive 22 Business Firtell insists there is no In the past six years, the company has people. vice president Insider started out as one “secret sauce” to the grown by leaps and bounds: Tower Legal So in 2008 Headquarters: thing—Silicon Alley Insider, Ronkonkoma, L.I. success of her business, projects that revenue could exceed $80 they decided to Three-year growth with its focus on New York— Tower Legal Solutions. million in 2013. It has 1,000 contract start their own rate: 403% and soon became another. 20 “It’s in the way we do attorneys. firm, one that 2012 revenue: “The day we started $13 million things,” Ms. Firtell, the president and CEO, President and CEO: Ms. Firtell says her firm’s reputation is would provide publishing, half of our readers said, pointing to its targeted approach to Leslie Firtell its biggest selling point. Case in point: A one-stop Profitable? Yes came from California,” recalled problem-solving for clients. “We don’t just Headquarters: major project in Washington, D.C., began shopping for Local employees: Henry Blodget, a former Wall Manhattan 59 try to throw spaghetti at the wall.” losing lawyers after two other staffing firms engineering Total employees: Street analyst turned journalist Her firm may not throw food, but it does Three-year growth were discovered to be paying their lawyers services from a turned editor in chief, who rate: 409% 60 throw lawyers at problems. A full-service founded the site in 2007 with its 2012 revenue: $56.4 much less than those attorneys provided by team made up Website: legal staffing and managed review company, million Tower Legal. The client found out, and mostly of intelligentproduct chairman, former DoubleClick solutions.com Tower Legal Solutions provides personnel Profitable? Yes Tower Legal reaped the rewards by seasoned CEO Kevin Ryan. “That Twitter: for document-heavy litigations, acquisitions Local employees: 30 attracting those lawyers. engineers. @ipsdesigners afternoon, we decided we were and mergers. Total employees: 50 “We don’t do business that way,” she said. “We going to be a broader tech The firm’s clients include heavyweights Website: towerls.com “And now we look great.” understand our customers very well publication.” in the telecommunications, retail and Twitter: @towerlegal —andrew j. hawkins because we’ve walked in their shoes (Mr. Blodget knows a thing before,” said Mr. Maiman. “They or two about reinvention: His want what we used to want.” journalism career took off after With strong ties to Motorola, he was CEO: Henry which bought a firm the partners banned from Blodget had worked for, they initially won the securities Headquarters: about 90% of their business from industry for Manhattan the electronics company—and misleading Three-year growth more recently developed products investors rate: 396% 2012 revenue: such as a headset computer that during the $10.3 million competes with Google Glass. Now, dot-com Profitable? No as the company has branched out to boom.) Local employees: areas such as hybrid electric buses, Business 119 about 50% of its business comes Insider— Total employees: from Motorola. which 128 Website: business The next step in the company’s launched in insider.com strategy: to expand out of the New 2009 and Twitter: York metro area. To that end, the incorporated @businessinsider company recently set up operations Silicon Alley Charlie Palmer’s energetic, unabashed signature Aureole, in Mount Pleasant, S.C., with Insider—now includes “lots of located in the Bank of America building, is the ideal location for plans to open offices in major images, lots of video, lots of private holiday dinners and celebratory soirées. urban areas nationally over the next shorter stories,” Mr. Blodget five years. added, citing its use of —anne field technology to track reader response. “Had we not been able to see what readers wanted, it would have been harder to figure that out.” The site ranked 10th in July among business-news properties, with 8.7 million unique visitors, a 53% spike over a year ago, according to comScore. Revenue comes primarily from advertising but also from its Ignition conferences and a subscription research service. Business Insider does not turn a profit on a consistent basis, but Mr. Blodget sees more solid growth in 2013. “We’ll be Contact us today to inquire about your next event · [email protected] · 646.392.9172 x 20 SCREEN TIME: 135 West 42nd Street (6th/Broadway) · 212.319.1660 · CharliePalmer.com up very significantly over last Intelligent Product Solutions year,” he said. designed this airport scanner. —matthew flamm

24 | Crain’s New York Business | October 7, 2013 BLUE FOUNTAIN MEDIA USABLENET What it does: Operates a What it does: Develops websites and online technology platform that delivers content marketing strategies and functionality to mobile devices HOW IT GREW: Usablenet, a second- HOW IT GREW: Don’t keep secrets.That’s time Fast 50 company, made its name Blue Fountain Media’s tactic for creating easily accessible, user-friendly distinguishing itself among the myriad websites.That mission proved Web development firms and online 24 invaluable when mobile devices began marketers. to surge and accessibility became the 23 CEO: Nick Taylor “Companies talk about their secret Headquarters: key to attracting users. It helped the formulas and hold them close to their hearts, but that doesn’t Manhattan Manhattan company sign 20% of the work anymore,” said Gabriel Shaoolian, founder and CEO of Three-year growth Fortune 1000 as clients, including the Madison Avenue firm, which has 160 employees. “We’re rate: 352% FedEx, Hilton Hotels, American constantly putting out content, sharing what we know. We 2012 revenue: $59 Airlines and Dell. want to stand out as industry leaders.” million Usablenet continues to grow by Profitable? Yes Mr. Shaoolian did a two-year stint writing a New York Local employees: adding new clients—50 in the past year Times blog about website analysis and now oversees one that 125 alone—and seeking more business his company publishes on Web design and digital marketing Total employees: 300 globally, in Latin America and Europe. trends. Blue Fountain cements Website: In the past, it concentrated on research CEO: Gabriel usablenet.com Shaoolian relationships with existing clients by and development as well as sales.This Twitter: @Usablenet Headquarters: inviting them to quarterly seminars co- year, it hired its first chief marketing Manhattan hosted by Google, which trains officer Three-year growth attendees on the latest techniques in THOUGHT LEADER: Web and is focusing heavily on ‘We want to rate: 390% digital and mobile marketing. “If we marketer Gabriel deepening relationships 2012 revenue: $14.2 invest in training and teaching them, Shaoolian freely shares with existing customers as million his strategies with clients help clients Profitable? Yes they will appreciate the work we do and future prospects. companies seek to tout

Local employees: 80 more,” said Mr. Shaoolian. buck ennis their brands across multiple communicate Total employees: 160 Hiring exceptional talent from large channels. Website: competitors, as well as startups, has also “The market is filled with great agencies and great “Today, a partnership across all bluefountainmedia helped Blue Fountain generate long- people,” said James Pardes, vice president of marketing and may start with a mobile channels’ .com term contracts with customers, which communications for the New York Organ Donor Network, a site, but we also work with Twitter: @BFMweb include Procter & Gamble, Nike and nonprofit organ procurement organization that employs Blue clients on native apps, —Nick Taylor the National Football League.Three Fountain Media to help boost its website and social-media tablet implementation and months after Blue Fountain redesigned the NFL’s High presence, among other things. Since working with Blue on-premises kiosk apps,” School Player Development website last year, it saw traffic Fountain, the NYODN has increased its “likes” on Facebook said CEO and founder increase by more than 22%, while the time visitors spend on to 42,000 from 1,000. Mr. Pardes said, “There is not a reason Nick Taylor. “What we site rose by 150%. Blue Fountain’s revenue has consistently why I would need to look elsewhere.” want to do is help them communicate across all channels.” grown 40% year over year, to $14.2 million in 2012. —maggie overfelt —judith messina

October 7, 2013 | Crain’s New York Business | 25 JRM CONSTRUCTION What it does: General contracting firm that builds MONDO MANAGEMENT retail and office interiors What it does: Provides full- time and contract IT HOW IT GREW: In 2010, JRM resources nationwide Construction Management won the job to build gourmet Italian HOW IT GREW: food marketplace Eataly. It was Michael Kirven WINNING one of the largest retail interior and Eric FORMULA: At ALAC 27 construction projects in the city Berridge International, Lily at that time and also a huge calling card: The store founded Wei Frishman reacts would go on to become a culinary sensation. What 29 Mondo in 2000 rapidly to market

conditions to came next was a galvanizing moment for the firm. buck ennis in the cheapest office space compete. CEO David McWilliams walked away from the CEO: David available—above a strip club.Their project when its backers suggested that the budget McWilliams reasoning: Better to be he proposed be cut. Headquarters: bootstrappers than face pressure Mr. McWilliams, who founded the firm in 2003, Manhattan from venture capitalists to expand. Three-year growth steadfastly refuses to partake in the almost endemic rate: 300% Even without VCs involved, practice in the construction industry of 2012 revenue: Mondo, with 10 offices underestimating costs in an effort to simply win $202.7 million nationwide, has CEO: Profitable? Yes Michael Kirven business, then upping the price later. grown by at Headquarters: “I don’t want to ever get in a position where we Local employees: least 40% every 164 Manhattan have promised something to a client and we don’t year. A Three-year growth Total employees: rate: deliver,” Mr. McWilliams said. Undisclosed recruiter and 274% JRM Construction Management’s reputation for Website: supplier of IT 2012 revenue: credibility has won it a star-studded roster of clients, jrmcm.com personnel and $38.5 million Profitable? work on some of the city’s premier interior Twitter: resources, the Yes @JRMconstruction Local employees: construction projects, and skyrocketing revenue. Mr. company has 70 McWilliams said the company is on track to do benefited from Total employees: about $210 million of work in 2013, fed by high-profile projects such as a shortage of 320 constructing Coach’s offices at its new headquarters at the Hudson Rail tech workers Website: Yards and building the observatory at 1 World Trade Center.That’s that Mr. Kirven mondo.com Twitter: @Mondo_ double its revenue from just two years ago. expects to last agents “Our price is not always the lowest, but my product is better, and the for the next 20 clients get in on time and pay what we told them it was going to cost,” years. Mr. McWilliams said. —daniel geiger Mondo made its name serving New buck ennis GLOBAL WARRANTY GROUP York-area clients, but ALAC INTERNATIONAL What it does: Develops and administers product growth really warranties and extended-service contracts took off two What it does: Imports and distributes chemical raw years ago, when Mr. Kirven began materials for the plastics, adhesive and coatings HOW IT GREW: In 2003, two years after launching a geographic expansion that industries Global Warranty Group, Charles Pipia was brought a New York sensibility to struggling to replicate the success a former employer places such as Denver. HOW IT GREW: Lily Wei Managing director, had as a seller of warranties to large retailers. So he “They were the company that North America: Lily Frishman’s most recent break in Wei Frishman changed course and began pitching the product had a hair-on-fire sense of the chemicals industry happened 28 warranties he was selling in his urgency,” said Bill Forgione, Headquarters: about a decade ago, when she Manhattan own business to a niche overlooked by competitors— President: Charles director of talent and culture at caught wind that a ubiquitous Three-year growth small wireless-phone stores. Pipia Denver-based Reach Engine, a 25 rate: 342% Headquarters: chemical additive—common in Since then, GWG has not only scored extended- provider of video-cataloging yoga mats, shower curtains and rain boots—was in 2012 revenue: warranty contracts with 8,000 wireless outlets but St. James, L.I. technology that uses Mondo. $56.5 million Three-year growth short supply in the U.S. Profitable? Yes with other small retailers in the U.S. and Canada, rate: 278% “They are just very New York She sourced the product in her native China for a Local employees: 9 including consumer-electronics, major-appliance and 2012 revenue: about it.” single customer in the U.S., and ALAC Total employees: 12 furniture dealers. In addition, it has snagged retailers $28.1 million Mondo recently opened an International Inc. was born. Ms. Frishman, with her Website: and distributors in South America and the Profitable? Yes office in downtown Denver—a husband, Alan, and co-founder Ting Aaron Wei, alacinternational.com Caribbean.The average price of an extended- Local employees: high-profile gesture of community has carved out space among giants like ExxonMobil Twitter: None warranty contract is $169 for two-year coverage, with 14 support that makes Mr. Kirven feel, Total employees: Corp., building a network of about 200 customers stores garnering 50% of the proceeds. 44 in a word, “anxious.” Expectations and expanding its line of chemical products to two dozen. GWG’s success flies in the face of warnings— Website: for Mondo are extraordinarily high, “Our competitors are all large corporations,” she said. “We work very from consumer advocates, including Consumer globalwarranty and not meeting them is a routine hard to give our customers a lot of care and help them build market share Reports—that products infrequently break within the group.com worry. But the anxiety doesn’t stop in the U.S.” extended-warranty period. Twitter: None the expansion. But Ms. Frishman said ALAC’s biggest key to success has been its “The price of some equipment is extraordinary” to What’s on tap for Mondo? An relationship with PNC Bank, which provided working capital after the repair or replace, says Mr. Pipia, who compares his extended warranties international office, probably in credit-tightening financial crisis, fueling the company’s strongest period to financial safety nets like life and disability insurance. London or Toronto, and then of growth. Since 2008, ALAC has expanded its supply chain to include To sustain its growth, GWG is now pursuing the power-tool “global domination, at a growth Canada, Mexico and countries in South America and Asia. Now the business because of the high price tags on such products. For the past rate of 40% to 50% a year,” Mr. company is developing domestic relationships, with plans to export five years, it has administered repairs for various U.S. manufacturers. Kirven said. overseas. —ken christensen —cara s. trager —elizabeth macbride

REMEDY HEALTH MEDIA What it does: CEO: Michael that keep patients engaged. Provides Cunnion With roughly $50 million in Headquarters: online health information and technology Manhattan revenue last year, Remedy has been Three-year growth rebuilding all its brands with an HOW IT GREW: Remedy them access to the experts, and rate: 325% elegantly designed mobile focus to Health Media’s fortunes information and applications they 2012 revenue: attract those who want to view its have risen under need for the best medical outcomes. Undisclosed content on devices such as Obamacare. As health An online health information and Profitable? Yes smartphones and tablets. “We have istock Local employees: systems face more technology company founded in 70 a commitment to building great Total employees: 26 accountability for results, 1990, Remedy has roots in print and 125 mobile products, something we’re they are paid to keep people well. “Big has created health content for Website: really proud of,” said Mr. Cunnion. changes in the health care industry have decades. It has also succeeded in remedyhealthmedia Millions of Americans will be definitely created opportunities for us,” said carving out territory online: Its .com insured for the first time under live healthier lives. Behind that growth, he Twitter: Chief Executive Michael Cunnion. overall digital audience has grown @RemHealthMedia Obamacare, and Mr. Cunnion said, will be “the great people here. We have Remedy’s niche is providing proprietary 40% in 2013. Its products offer believes many will turn to Remedy great products, but we have a really awesome content that empowers patients by giving unique content, applications and technology Health to access experts who can help them team.” —barbara benson

26 | Crain’s New York Business | October 7, 2013 toxins? Thus was born What it does: Conducts BabyGanics. STERLING criminal background checks “It’s all about giving parents the ability to create a baby-safe world, INFOSYSTEMS so babies can explore and thrive and grow, and you don’t have to HOW IT GREW: Consider this: 20 years ago, few worry about what they touch and companies had systems to check out potential new hires. istock wear and eat,” said Mr. Schwartz, These days, nearly 90% conduct background screens, who started the company with a according to the Society for Human Resource co-founder in 2005. 31Management. His timing was prescient. A That sea change has propelled Sterling Infosystems generation of environmentally to a greater than 34% compounded annual revenue growth since BABYGANICS conscious young parents has 2001 and to a standing as—in the words of a Crain’s profile from What it does: Creates and helped to drive BabyGanics’ rapid 50 earlier this year—the biggest New York-based company you’ve never sells organic baby products growth over the past eight years. heard of. “The millennial parent is a really More recently, acquisitions have spurred growth. An investment by HOW IT GREW: empowered parent,” said Mr. ‘There are San Francisco and Boston-based Calera Capital, For CEO Schwartz. tensions over which owns 54% of the company, helped Sterling Kevin BabyGanics sells 60 different buy Screening International in July 2010, AISS in Schwartz, plant-based products, from privacy. But February 2012, and Checkwell in April 2012. The BabyGanics’ sunscreen to floor cleaners, last acquisition gave Sterling a big foothold in 30 success all through online and retail outlets terrorism will Canada. Europe and Asia are small markets now started with his search for such as Buy Buy Baby, Babies “R” but are increasingly on Sterling’s radar. Growth is nutritional supplements to help Us and Amazon.com.They are change that’ harder there because of cultural differences with prevent the ailments—arthritis, priced to be affordable—slightly the United States. allergies and digestive disorders— higher than generic brands and “There are tensions over privacy,” said CEO —Billy Greenblatt buck ennis that plague modern-day pets. below the typical price point of Billy Greenblatt, who founded the company in CEO: William “Billy” When the best nutrients he natural and organic products. 1975 while a University of Maryland student. “But Greenblatt Headquarters: could find for his dog CEO: Kevin Schwartz Future growth, said terrorism will change that.” Manhattan were spinoffs of products Headquarters: Mr. Schwartz, will Some critics of background checks have raised Three-year growth for humans, he started Hicksville, L.I. come from consistent concerns about the power a single negative report rate: 266.4% his own business, Three-year growth innovation. First up: can have on an employee’s career; mistakes 2012 revenue: $215M PetLabs360, today a rate: 270% Rear Gear Diapers, sometimes happen. But those concerns don’t seem Profitable? Yes successful pet nutrition 2012 revenue: $18.5 which debuted this past likely to slow Sterling or its competitors—it’s in a Local employees: 150 million Total employees: company. Along the way, Profitable? Yes summer and starting head-to-head fight with Alpharetta, Ga.-based he asked himself: If it this week can be found First Advantage. 2,300 Local employees: 24 Website: works for pets, why not Total employees: 29 on the shelves of every Mr. Greenblatt is aiming for Sterling to reach sterlinginfosystems for babies, who are at Website: Target store in the $1 billion in revenue and an IPO within five .com least as vulnerable to babyganics.com country. years. Twitter: household chemicals and Twitter: @BabyGanics —judith messina —elizabeth macbride @sterlinginfosys Know-how maximizes the value of your cash flow.

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October 7, 2013 | Crain’s New York Business | 27 What it does: Provides tools and templates SQUARESPACE for bloggers and businesses to build websites and conduct e-commerce

HOW IT GREW: Squarespace, which “They’ve upped the ante in what it means to have a hosts websites and provides tools great software solution and a great design aesthetic on and templates for building them, has top of that,” said Andrew Braccia, a Squarespace board more than 70 customer- CEO: Anthony member and venture capitalist with Accel care employees, nearly half Casalena Partners, which in 2010 helped bankroll the 32 its total workforce.The Headquarters: company in a $38.5 million round. importance of listening to customers is one Manhattan When Squarespace launched the sixth thing founder and CEO Anthony Casalena Three-year growth version of its technology a year ago—making rate: learned firsthand during the company’s early 266% it more flexible and easier to use—it signed up 2012 revenue: years, when he did all the customer service Undisclosed more customers in 10 months than it had in himself. And it’s one reason Squarespace is Profitable? Yes its previous eight years. Six months ago, the growing at 266%, the 32nd-fastest-growing Local employees: company launched another feature that has company in New York City. 140 turned out to be hugely popular, Squarespace “I understood the importance of Total employees: Commerce, which lets customers sell products communicating with customers, of hand- 150 and services and accept donations via their Website: holding somebody through the daunting squarespace.com websites. experience of creating a website,” said Mr. Twitter: The next surge of growth, he said, could Casalena. @Squarespace come from expanding the company’s offerings The Manhattan company pays equal in new and different industries. attention to customer friendliness in its “You can think about it in the lens of CHANGE AGENT: Anthony Casalena technology. Its sophisticated platform provides continuing to expand service offerings in verticals, such made online everything customers need to build and maintain a as [offerings] for musicians,” said Mr. Casalena. “We’re publishing easier website, whether they are do-it-yourself bloggers or not finished with that mission.” for customers.

experienced developers building sites for clients. —judith messina buck ennis

What it does: Manages clients’ REGENERON PRIDE human-resources and staffing needs PHARMACEUTICALS GLOBAL What it does: Develops biopharmaceuticals HOW IT GREW: Leo Russell launched Pride Technologies in the 1980s to provide IT services and HOW IT GREW: In early 2012, sell computer equipment. He gradually added management at Regeneron knew it had temporary and permanent staffing services and, in a blockbuster in aflibercept, an 2002, formed a holding company, 34 CEO: Leo Russell ophthalmology drug it markets as Eylea. Pride Capital Partners, which is Soon after the company got FDA approval at the now branded as Pride Global. It has eight divisions and Headquarters: 33 Manhattan end of 2011 to market Eylea—to treat a condition offices across the country, as well as in Brazil, India and Three-year growth called age-related wet macular degeneration—sales started to take off. Canada. The company made it onto Crain’s top rate: 254% “Ophthalmologists were treating these patients with other drugs on the minority-owned companies list for 2013. 2012 revenue: market, but they had insufficient response,” said Mr. Russell credits the company’s growth, in part, to $425 million CEO: Dr. Leonard Schleifer Murray Goldberg, Regeneron’s chief financial its focus on motivating top employees and its carefully Profitable? Yes Headquarters: officer. Eylea worked better. crafted culture, which he refined two years ago. He Local employees: Tarrytown, N.Y. Eylea’s popularity has grown despite the reality introduced a system modeled after a martial-arts dojo, 100 Three-year growth that treatment is not pleasant—it involves an in which employees can reach the equivalent of eight Total employees: rate: 263% injection into the back of the eye—or cheap, belt levels based on their demonstrated expertise, 3,100 2012 revenue: $1.38 retailing at $1,850 a shot, Mr. Goldberg said. In flexibility, leadership and commitment to learning. The Website: billion prideglobal.com system ties various perks, such as having a service come Profitable? Yes the first full year after FDA approval, sales of the Twitter: Local employees: drug reached $838 million, he said. Patients to clean employees’ homes, to each belt level. According @pridetech More than 1,300 typically get an injection at the beginning and the to Mr. Russell, attrition is close to zero. Total employees: end of their first month of treatment, then one Then there’s the “$1,000 rule,” whereby employees who see an PROUD OF PRIDE: 1,950 every two months. opportunity or a risk worth $1,000 or more are obligated to talk to Mr. CEO Leo Russell Website: The drug is a biologic—a category of drugs Russell directly. Example: When an employee learned that the company’s credits his firm’s regeneron.com made from a living organism or its products—that contact at a Wall Street client had been laid off last year, the firm quickly growth to its Twitter: motivated @RegeneronPharma blocks the formation of abnormal blood vessels in helped find the person a different position. The client’s new employer now employees. the eye that can cause the loss of sight. brings Pride $30 million worth of business. —anne field The company in 2012 got FDA approval for another biologic drug that inhibits blood vessel growth in tumors and shows promise in treating metastatic colorectal cancer, Mr. Goldberg said. Over the years, Regeneron has worked on developing a half-dozen drugs in R&D partnerships with Sanofi.The French drugmaker owns DESIGNER APPLIANCES 16.5% of the company. What it does: “But we’ve been around since 1989, and based in New York from the Sells discounted high-end home appliances very beginning,” Mr. Goldberg said. —gale scott HOW IT GREW: Metin Ozkuzey Viking and Sub-Zero. So far, the launched Designer Appliances business has received an A- from from his basement just as the the Better Business Bureau. economy was tanking in 2008. He Mr. Ozkuzey, a former Yahoo figured that sales of executive, operates a 35 CEO: Metin Ozkuzey refrigerators and warehouse in New Jersey and will soon Headquarters: 2 dishwashers at stores such as Home Depot Mountainside, N.J. open a small storefront in the upscale PHARMA COMPANIES appear in this year’s ranking would be down—allowing his discount Three-year growth suburb of Montclair. The store is modeled business to get a foothold in the highly rate: 240% after high-end retailer Williams-Sonoma competitive consumer home-goods market. 2012 revenue: in that the sales pitch is toned down and His bet paid off. Designer Appliances, $16.2 million the shopping experience includes perks like 3 which sells merchandise at discounts of up to Profitable? Yes food tastings. BABY-PRODUCT COMPANIES 70% via direct relationships with Local employees: “We’d like to get people at the research made it into the Fast 50 manufacturers, generated $16.2 million in 16 and discovery phase of their buying Total employees: sales last year, up from $9 million in 2010. 16 experience to inspire them, rather than only Website: During the past five years, the firm has designerappliances getting them when they are ready to pay for 6 shipped products to more than 150,000 .com their item with their credit card,” Mr. 50 FINANCIAL FIRMS broke into homes, mostly in the Northeast. The Twitter: Ozkuzey said. this year’s list company focuses on such premium brands as @Dapppliances —lisa fickenscher

28 | Crain’s New York Business | October 7, 2013 SIGNATURE SYSTEMS GROUP MKG PRODUCTIONS What it does: Manufactures, rents, sells and installs What it does: Creates events to market brands modular, interlocking plastic flooring and roadways HOW IT GREW: Back in college and graduate HOW IT GREW: Signature Systems makes products that school, Maneesh Goyal was always the guy who are often underfoot—the flooring used in places like came up with the fun ideas and threw the best outdoor party tents or at stadium concerts, for example. parties. CEO: Maneesh K. One of the biggest reasons for the company’s 38 Today, he’s turned that Goyal remarkable growth this year is sales of its heavy-duty LEN TANNENBAUM talent into a $21 million Headquarters: 36 Manhattan MegaDeck flooring. First introduced in 2011, business, MKG Productions, which creates CEO: Arnon Rosan MegaDeck tiles sit beneath onshore oil rigs and are used branding events for America’s biggest companies. Three-year growth Headquarters: to create roadways to get to those rigs. “We work with MKG’s business has spiked more than 227% rate: 227% Manhattan oil companies drilling in remote areas of Colombia, FIFTH STREET during the past three years, driven by 2012 revenue: Three-year growth $21 million rate: 239% Ecuador, Peru, New Guinea—places where there is little FINANCE “experiential” marketing, a fast-growing way for Profitable? Yes 2012 revenue: $81 infrastructure,” said CEO Arnon Rosan.The company What it does: companies to connect with customers. With Local employees: million has also begun installing its flooring, in addition to Invests in and marketing messages blaring from every street 50 Profitable? Yes selling and renting it. “We’ve become much more lends to other businesses corner and mobile device, it’s no longer enough Total employees: Local employees: integrated,” said Mr. Rosan. “That was a big difference just to garner eyeballs. Companies need to 58 60 for us in 2012.” HOW IT GREW: immerse customers in a live experience. Website: Total employees: thisismkg.com 120 In an environment of tepid economic growth, Mr. Fifth Street “It used to be all about impressions,” said Mr. Twitter: Website: Rosan says Signature has grown by continually Finance Corp. Goyal, founder and CEO of MKG. “Now it’s more @thisismkg eventdeck.com modifying its products for new markets. It recently began went public in about expression: How many different [kinds of Twitter: selling its AmorDeck flooring with an embedded 2008, and Wall customer engagement] can you build into a marketing platform?” @SignatureSystem 37 channel through which cables can be run. Sales of that Street’s ill-fated Consider, for example, the MKG-managed campaign for Delta product started with the military, but “now we’re thinking year worked in the company’s favor. Air Lines publicizing the opening of its $1.2 billion terminal at JFK. about targeting trade-show or party-tent users with that,” said Mr. Rosan. Like other alternative lenders, It included a pop-up mini-terminal at West Broadway and Broome “The secret sauce for us has much less to do with individual products than it Fifth Street got a boost in recent Street with free Wi-Fi, $4 lunches served on a baggage conveyor belt does with consistently looking for opportunities.” —eilene zimmerman years while traditional banks reined and a ticker counting down the days to the terminal’s debut. Or the in financing “Wear the Pants” campaign for Levi’s Dockers division that featured during the credit CEO: Len a one-month pop-up store on hip Howard Street in SoHo, as well as crisis. As a Tannenbaum an Airstream bus carrying a barber who gave free trims and a GQ Headquarters: business White Plains, N.Y. stylist handing out complimentary pairs of Dockers. development Three-year growth As big agencies add their own experiential divisions, Mr. Goyal is company, or rate: 231% banking on MKG’s smaller and leaner profile to continue to fuel BDC, Fifth 2012 revenue: growth. Headquartered in SoHo, MKG also has an office in Los Street sells shares $165.1 million Angeles. Next year, Mr. Goyal will be looking to expand to other cities. to investors and Profitable? Yes “We don’t have layers of bureaucracy,” he said. “We’re much more Local employees: pools the money 39 nimble and able to respond.” —judith messina in a loan fund. It Total employees: lends the capital 45 to small- and Website: What it does: Advertising fifthstreetfinance DROGA5 medium-size .com agency known for ad businesses in Twitter: campaigns that go viral on the Internet partnership with @FifthStreetFSC private-equity HOW IT GREW: For seven-year-old boutique firms, generating revenue on interest advertising firm Droga5, this past year was about and, when it takes partial ownership, scaling up its edgy, interactive approach and capital gains. applying it more to big mainstream brands. For Other keys to growth have been Prudential, Droga5 continued its “Day One Fifth Street’s focus on lending to 40 Stories” initiative, a series of 30- and 60-second growing sectors like health care and TV commercials that document bits of the first day of retirement of technology, and serving repeat real people. Viewers are pointed to www.dayonestories.com, which customers by refinancing, encourages them to share their own stories and highlights originating and underwriting loans, Prudential’s products. “We stayed true to our mission of driving effectiveness through influence,” said Sarah ‘The revenue Thompson, CEO of the 340-employee firm. “The fact that we’re able to do what we originally did a few years ago and scale it up for clients like grows when Prudential and Coke shows that it’s not just a small, one-off project.” CEO: Sarah buck ennis you have Droga5 is well known for launching the 2007 Thompson UNICEF Tap Project, which urged restaurant- Headquarters: multiple lines goers to donate $1 as payment for the water they Manhattan drank to provide clean water to children who Three-year growth PROSPECT CAPITAL needed it—a campaign that now employs rate: 212% of business’ Facebook. 2012 revenue: What it does: $58.3 million Provides financing to small and midsize —James Velgot While 50% of Droga5’s growth happens Profitable? Yes businesses, ranging from software and energy organically—small projects for Coke, Kraft and Local employees: Prudential have turned into long-term contracts— 205 companies to forklift operators the firm, whose revenue rose 43% to nearly $60 Total employees: million last year, is now able to chase clients in 340 HOW IT GREW: This lender went CEO: John F. Barry categories where it wants to grow. Landing an Website: droga5.com public in 2004 and laid low for the III according to James Velgot, chief account with digital music service Spotify in Headquarters: Twitter: @droga5 first six years of its existence. But Manhattan marketing officer. February entered Droga5 into tech, a move that in 2010, amid widespread turmoil Three-year growth The model has worked so well “allows us to invest more in the digital front,” said Ms.Thompson. at the big banks, it sensed a chance rate: 220% that Fifth Street is doubling down. In A campaign for Motorola’s new Moto X smartphone was 39 to grow, and it pounced. 2012 revenue: August, the company made a public launched recently.Talent giant William Morris Endeavor took a Management issued long-term debt to give it more $321 million offering of its second BDC, known 49% stake in Droga5 in July, adding resources. capital to lend to small businesses and began rapidly Profitable? Yes as Fifth Street Senior Floating Rate Droga5’s work “has been a huge disruptor for our spirits Local employees: expanding its staff by hiring experienced lenders 60 Corp. It also launched a lending arm consumer base, which has been conditioned to expect advertising of exiled from big banks. Head count has doubled in the Total employees: for venture-capital-backed smiling people and clinking glasses at the party they weren’t invited past two years. 62 companies and an aircraft leasing to,” said Rodney Williams, senior vice president at Hennessy.The “We look at 3,000 opportunities to close about 30 Website: business. flagship cognac brand of parent company LVMH started working or 40 transactions,” said Chief Financial Officer prospectstreet.com “The revenue grows when you with Droga5 in 2011. In 2012, the brand saw record sales and is on Brian Oswald. “You can’t do that without have Twitter: None have multiple lines of business,” Mr. track to beat its budget this year. “The fact that we’ve been able to qualified people on the ground beating the bushes. Velgot said.“We’re going to maintain price integrity during a challenging economic period And that’s what we have now.” continue to grow quite quickly.” speaks volumes to the quality of the marketing work of Droga5,” said —aaron elstein —ken christensen Mr. Williams. —maggie overfelt

October 7, 2013 | Crain’s New York Business | 29 WIRED FOR SUCCESS: Sean Yazbeck’s firm profits from hot APOLLO GLOBAL LEBENTHAL & CO. telecom trends. MANAGEMENT buck ennis What it does: Offers investment What it does: Makes banking and wealth management leveraged buyouts and HOW IT GREW: The firm that New Yorkers of a purchases distressed certain age recall for its TV ads touting the benefits securities of municipal bonds has been CEO: Alexandra reborn as a full-service investment Lebenthal HOW IT GREW: bank. Headquarters: 43 Manhattan Apollo’s Leon In the past year, it has helped Black, an corporations such as Pfizer and Citigroup raise debt, Three-year growth expert in and in 2012 had a hand in helping sell the initial rate: 195% spotting public offerings of Facebook and casino operator 2012 revenue: 42 $13 million treasure where Caesars Entertainment. Profitable? Yes others see only trash, is at it again. “I’m relentless when it comes to getting business,” Local employees: Flush with cash raised in better Chief Executive Alexandra Lebenthal said. 37 times from institutional investors The role of entrepreneur is fairly new to Ms. Total employees: like CalPERS, Mr. Black’s firm has Lebenthal, who is 49. In 1995, she took over the family 39 Website: been busy investing in companies, business founded 70 years earlier (and was named a lebenthal.com real estate and corporate debt.The Crain’s 40 Under 40), but in 2001 sold it to a brokerage Twitter: None company has also benefited greatly firm called Advest.The Lebenthal name disappeared a from ultra-low interest rates, which few years later when Advest was acquired by Merrill Lynch. has made it cheaper for it to Ms. Lebenthal, since relaunching the company five years ago, has enhance returns using borrowed built the second-largest woman-owned financial institution in the city, money. according to Crain’s data. Such success is rare. According to an Apollo has American Express study last year, only 20% of finance or insurance also reaped big businesses are owned by women. —aaron elstein gains in recent years by selling some of its many What it does: Helps small holdings. For YODLE businesses market online example, in 2008 it bought $2 HOW IT GREW: In just under seven years, Yodle has

billion worth of bloomberg news worked with 35,000 small businesses across the debt from Chairman and country—including plumbers, roofers, contractors, LyondellBasell CEO: Leon Black dentists and mortgage brokers—helping them Industries, a Headquarters: reach new customers using the same type of Manhattan New Jersey- 44 sophisticated online marketing and advertising Three-year growth based chemical tools as much larger companies. rate: 195.8% CEO: Court company that 2012 revenue: “We level the playing field for the small guy,” said Cunningham later filed for $2.8 billion Court Cunningham, Yodle’s chief executive. Headquarters: bankruptcy. Profitable? Yes Yodle’s services include traditional telemarketing, Manhattan Apollo’s Local employees: direct email and website development.The company, Three-year growth Undisclosed holding was which has been profitable for the past two years, saw rate: 188% buck ennis Total employees: 2012 revenue: converted into 660 sales rise 50% last year, according to Mr. Cunningham. $132.2 million What it does: Provides contract equity, and after Website: agm.com This year, Yodle acquired Atlanta-based Profitable? Yes selling some of Twitter: None Lighthouse Practice Management Group, which Local employees: WAVSYS labor and managed services to its shares in bought it a 6% market share of all dentists in the U.S. 280 the telecom industry August, Mr. Black’s firm had Lighthouse will also help Yodle expand its services to Total employees: reaped $6.7 billion in gains from offer customer retention. 1,100 HOW IT GREW: Website: As the world’s largest wireless carriers that single investment. Yodle can now give its clients the ability to yodle.com continue the build-out and upgrading of their next- Home runs like that help cultivate relationships by, for example, sending Twitter: @Yodle generation cellular networks, business at Wavsys—a explain why Apollo’s stock price appointment reminders to dental patients by text Brooklyn-based staffing and professional services firm has jumped by 78% since the message and integrating patients’ reviews on a dentists’ website. that specializes in providing contract workers to the private-equity firm went public in With 1,100 employees across the country—and 280 in New York— 41telecom industry—is thriving. 2011, or more than double the Yodle is outgrowing its current headquarters. “We are adding positions Companies like Verizon are on their second round of deploying Long S&P 500. in sales, Web development, marketing and service,” Mr. Cunningham Term Evolution, better known as LTE,the latest technology standard for —aaron elstein said. —lisa fickenscher wireless communication of high-speed data for mobile phones.That’s creating lots of business for firms such as Wavsys. “The lucky thing about technology is that it never stops,” said Wavsys CEO SHUTTERSTOCK What it does: Sells subscriptions to stock-photo website and co-founder Sean Yazbeck. CEO: Sean Yazbeck Mr. Yazbeck, who founded Wavsys in 2007 with Headquarters: HOW IT GREW: Better video technology and faster Internet two young telecom veterans after winning the fifth Brooklyn connections are creating a perfect storm—in a good way—for season of The Apprentice and working with Donald Three-year growth Shutterstock.Those developments are making pictures and rate: 196.2% Trump for a year, attributes much of his company’s 2012 revenue: video the hottest way to advertise, teach and, well, recent growth to its relatively new offering: providing $26.5 million 45 communicate just about anything online. managed services to such clients as T-Mobile and Profitable? Yes Founded in 2003, Shutterstock collects images from AT&T.Instead of merely recruiting and sending out Local employees: photographers around the globe and sells them to businesses in 150 countries, which 10, 20 or 200 engineers to be managed by customers, 85 use them to advertise and connect with customers. Last year, the company delivered Wavsys is now overseeing entire projects, a “far more Total employees: 76 million images to subscribers and increased its revenue by 41%. Founder and lucrative but risky” endeavor, said Mr. Yazbeck, whose 310 CEO Jon Oringer figures that demand can only grow.“More and more small Website: firm’s annual revenue grew to about $27 million last wavsys.com businesses are created every day, and more are moving online,” said Mr. Oringer, a year from $20 million in 2011. He says 2013 sales Twitter: @wavsys 2013 Crain’s 40 Under 40. “With faster connections, the online have already surpassed last year’s. CEO: Jon Oringer world is getting more visual, and people are expecting content “Wavsys provides overqualified people at great rates, and they always Headquarters: today that is different from the day before.” make or beat their time frame,” said Mike Taylor, senior vice president of Manhattan Unlike traditional stock agencies, which charge buyers buck ennis Three-year growth network operations at DukeNet Communications, a regional rate: 178% depending on where and how often they use an image, Shutterstock runs a more customer- telecommunications service provider in Charlotte, N.C. Mr.Taylor 2012 revenue: friendly subscription service that allows buyers to use an image anywhere and as often as they recently contracted with Wavsys to staff DukeNet’s revamped network $170 million want. On the supply side, anyone can contribute a photo or video, but only about half of the operations center; it eventually hired all five workers Wavsys provided as Profitable? Yes 20,000 photos the company receives daily make it into its library. permanent employees. Local employees: The company went public a year ago, and its stock, unlike many other tech wonders, is trading Wavsys, with 11 offices around the country and 310 employees, sees 250 at three times its offering price as investors vote their approval.To continue growing, Mr. Oringer additional opportunity in the deployment of “small cells.”This entails Total employees: recently inked a deal with Facebook that provides photos free to the social network’s 1 million 295 installing a series of modems in crowded venues like stadiums and concert Website: active advertisers. He’s also just launched an ancillary business, Skillfeed, a subscription service halls to ensure that everyone inside has cell service—something that shutterstock.com delivering training material to customers who want to improve their photo skills. consumers increasingly demand. Twitter: “We figured out if we can source content the same way we source imagery, we have a natural —maggie overfelt @Shutterstock buyer base and can give them something useful,” he said. —judith messina

30 | Crain’s New York Business | October 7, 2013 BUMPY FLIGHT: CPI execs Doug McCrosson CPI AEROSTRUCTURES (left) and Edward Fred What it does: are helping the aircraft Serves as a middleman in the construction parts maker rebound. of airplanes and helicopters for both the commercial and defense markets

HOW IT GREW: CPI was founded in CEO: Edward Fred 1980 by two former executives from Headquarters: the Grumman Corp. In recent Edgewood, N.Y. Three-year growth years, the company has grown as it rate: 174% assumed a unique niche in its field, 2012 revenue: 46 $89.3 million subcontracting out the manufacturing of certain small parts and instead Profitable? Yes focusing on the assemblies of larger aircraft parts such as Local employees: skin panels, flight control surfaces, engine components 270 Total employees: and wing tips. 270 “It allows us to be flexible,” said CEO and President Website: Edward Fred. “We can go to five different suppliers and cpiaero.com find the lowest price, and it allows us flexibility in what Twitter: None we build. It’s produced the growth we’ve had since 2008.”The company then subcontracts for bigger firms, from Boeing to Northrop Grumman. This year, business slowed because the congressional sequester cut defense spending, and the company’s customers were uncertain about which parts of the Department of Defense budget would be slashed. But CPI’s core customers came through the cuts relatively unscathed, Mr. Fred

buck ennis said, and CPI is ready to renew its rapid growth. —chris bragg

PM PEDIATRICS What it does: Offers INVNT What it does: after-hours care for kids Communicates clients’ brands 5 HOW IT GREW: Anyone who has ever had a sick kid STAFFING-INDUSTRY will know why revenue at PM Pediatrics has nearly through events tripled since 2009. Who wouldn’t avoid an FIRMS are on this emergency room in favor of an award-winning HOW IT GREW: year’s list urgent-care center staffed by specialists in pediatric When Domino’s 47 conditions? wanted to Managing Co-founders Dr. Jeffrey Schor and Dr. Steven Katz members: Dr. communicate its saw a void in the New York area for pediatric services Jeffrey Schor, Dr. values to Steven Katz 48 2 available every day, with conveniences such as on-site thousands of COMPANIES on the digital X-ray and laboratory services.Their walk-in Headquarters: franchisees and employees, the Lake Success, L.I. urgent-care locations are open from either restaurant giant turned to inVNT. 50 list bring in more than Three-year growth 10 a.m. or noon to midnight and treat newborns rate: 170% The five-year-old communications $1 billion in annual through college-age young adults. 2012 revenue: agency created a four-day training revenue PM Pediatrics’ sizzling growth is also driven by $14 million program for 5,000 people, including health care trends. Profitable? Yes mock game Local employees: Global managing “We recognized things were changing in health shows. partner: Scott care to be more patient-centered. People want 181 “We had this Total employees: Cullather SKYLINE RESTORATION convenience and options,” said Dr. Katz. “For kids, 181 idea of a smile, Headquarters: What it does: there were few alternatives to the ER, and no one likes Website: and how do you Manhattan Restores commercial and residential to take their kid to the ER.” pmpediatrics.com get that feeling Three-year growth rate: building exteriors, including roofing, vertical surfaces, PM Pediatrics filled this gap in pediatric care by Twitter: @pmpeds to emote in 167.4% 2012 revenue: historical decorative elements and perimeter work, focusing on the patient experience. “From when you everything that $25.5 million such as courtyards and plazas walk in the door, to after you leave—and we follow up with your own you do?” Profitable? Yes doctor—we try to make it as pleasant as possible,” said Dr. Katz. remembered Local employees: With 2012 revenue of $14 million, the Lake Success, L.I., company Global 25 HOW IT GREW: Skyline’s robust growth comes from will have nine sites by the end of 2013, with plans to open at least four Managing Total employees: its long-established reputation in the city for more in 2014. —barbara benson Partner Scott 42 exterior restoration work.The company was Website: Cullather. inVNT.com founded 25 years ago and now works on many high- That kind of Twitter: @inVNT 49 profile projects, such as the Plaza Hotel, the Ritz- EXECU|SEARCH GROUP INC. interactive Carlton and the “Black Rock” educational approach has helped building on West 52nd Street. CEO: John What it does: Recruits and places temporary workers inVNT—dubbed by one industry One area of special expertise is creating the Kalafatis Headquarters: magazine a “challenger agency that’s intricate scaffolding required when restoring Long Island City, HOW IT GREW: According to its CEO and founder, challenging everything”—sign on a buildings, especially large ones. CEO John Kalafatis Queens Edward Fleischman, Execu|Search was the first couple dozen clients from the said it’s complicated to build scaffolding for very tall Three-year growth recruiter in the region to post jobs on the Web back Fortune 500, including General buildings, especially those in high-traffic areas like rate: 166.7% in 1996, at a time when many companies were still Motors. In addition, inVNT is Times Square. “We have to make sure someone can 2012 revenue: $66.4 million using pink message pads and fax machines. Now the building capacity to throw events in get 65 or 70 floors up 50 Profitable? Yes fast-growing company has launched an app that is other countries, to deepen to safely do the work Local employees: helping people search for jobs by using their mobile relationships with the big and then create a 70 devices, and runs a blog with original content and CEO: Edward multinationals. sidewalk shed so that Total employees: advice for job seekers.They’re both part of a branding Fleischman The economic turnaround, pedestrians can 700 (300 are Headquarters: contractors makeover that also includes a new logo and a especially in the auto sector, has continue to walk by working directly for redesigned website. Manhattan propelled growth. At a product while we’re working.” Three-year growth Skyline; 400 are “We always have been the innovative leader in our rate: 162% launch for GM’s Opel Adam car in The company also independent business,” Mr. Fleischman said. “The Internet has Paris, inVNT invited journalists to SKYLINE won a preservation employs a large subcontractors 2012 revenue: award for its work on working exclusively Undisclosed clearly helped us.” sidewalk cafés, brought the cars to Manhattan’s McIntyre Building. number of specialized for Skyline) In addition to its savvy use of the Internet, Profitable? Yes them, and hired poets to speak about craftspeople qualified Website: Execu|Search also is benefiting from employment Local employees: the customizable youth-market car, to perform delicate restoration work on centuries-old skylinerestoration trends, including a surge in health care jobs in the 135 which comes in three versions: jam, limestone or terra cotta decorative elements that .com Total employees: Twitter: region. Its health care business is up 20%. 170 slam and glam. adorn older buildings. @SKYrestoration With an eye on growth, Mr. Fleischman is looking Website: execu- Mr. Cullather founded inVNT Michael L. Mirisola, senior project manager at to develop more business in a related industry: search.com after an 18-year career at another New York University, has used Skyline as a contractor for the pharmaceuticals.Two years ago, he opened an office in Twitter: company.“I really believed in a better university’s façades, waterproofing, sidewalks and roofs for the past five Waltham, Mass., home to many bioscience companies. @ExecuSearch way of doing business on behalf of years. He said Skyline is “far superior” to his other contractors. “Their Now he is considering adding another outpost our clients,” he said. work is excellent,” said Mr. Mirisola. “And they are extremely on the East Coast. —judith messina —elizabeth macbride conscientious about what they do.” —eilene zimmerman

October 7, 2013 | Crain’s New York Business | 31 for example, there were 2 million proach in which inventory is consis- Fab falls to earth unique visitors to the site; this past tently available. It’s a move many August, that figure had dwindled to flash-sales startups are making— 360,000, according to Living Social recently announced it Continued from Page 1 at Needham Co. “The feeling was, Compete.com, a Web-traffic track- will offer ongoing deals rather than dissipate,” said Sucharita Mulpuru, these are unique designer items that ing service. limited-time-only offers. a vice president specializing in you wouldn’t be able to get some- The company has also had its 50 e-business at Forrester Research where else at the prices they share of turnover—its chief market- ‘Shift our business model’ INDEX who has been tracking Fab’s offered.” ing officer was employed there for “We realized that in order to ex- COMPANY (RANK NO.) PAGE progress. “Slow and steady is the But critics say Fab, which sends only a year. One former employee ceed the expectations of our cus- Acorda Therapeutics (No. 19) ...... 24 only way to be really powerful over out emails at least once a day to spoke of 60-hour workweeks and an tomers … we would need to shift Aden + Anais (No. 14) ...... 22 adMarketplace (No. 18) ...... 23 time.” members, drastically overspent on unhealthy office environment as the our business model to an inventory ALAC International (No. 25) ...... 26 Two years ago, Fab was hailed as marketing to recruit new customers. pressure to produce mounted. planning model,” wrote Mr. Gold- Apollo Global Management (No. 42) ...... 30 BabyGanics (No. 30) ...... 27 an Internet inspiration after founder According to a Bloomberg report, “It was fun, until it wasn’t,” said berg on his blog, Betashop. Bedgear (No. 8) ...... 18 and Chief Executive Jason Gold- the company spent more than a the employee, who spoke anony- In the past 12 months, Fab has Bisnow Media (No. 12) ...... 20 Blue Fountain Media (No. 23) ...... 25 berg transformed the company from third of its revenue on marketing mously because she was fearful of also begun designing and sourcing Business Insider (No. 22) ...... 24 Fabulis, a year-old networking site last year. Mr. Goldberg publicly ac- industry repercussions. some of its own products,in order to Cantor Commercial Real Estate (No. 5) ...... 18 Convene (No. 1) ...... 15 for gay men, to an online seller of knowledged that he plans to slash Fab’s story is not a new one,espe- rely less on outside brands and CPI Aerostructures (No. 46) ...... 31 cool and contemporary furniture, such spending by 25%, to under $30 cially in the highly saturated and theoretically keep more of the prof- Datalot (No. 4) ...... 16 Designer Appliances (No. 35) ...... 28 filling a niche at a time when con- million. very trendy flash-sale market, say its. It will also make it easier to track Droga5 (No. 40) ...... 29 sumers clamored for the sleek fiber- Last year, the company restruc- experts. Many startups grow quick- what people are buying and boost Execu|Search Group (No. 50) ...... 31 Fab (No. 7) ...... 1 and 18 glass of Eames rocking chairs. tured its London acquisition, Lus- ly in both sales and popularity right the supply of items in demand, said Fifth Street Finance (No. 37) ...... 29 an analyst. Global Warranty Group (No. 28) ...... 26 tre, by moving British-based em- out of the gate and expect such Happy Family (No. 9) ...... 20 Quick rise ployees to Berlin. Then in July, Fab growth numbers to continue, when Meanwhile, Fab is looking into Integral Ad Science (No. 6) ...... 18 Intelligent Product Solutions (No. 21) ...... 24 Co-founder Bradford Shell- laid off more than 100 Berlin-based they really should focus on more brick-and-mortar retail locations inVNT (No. 47) ...... 31 hammer’s résumé even included a workers and said it would consoli- lasting expansion. both domestically and abroad. Ear- JRM Construction Management (No. 27) ...... 26 Lebenthal & Co. (No. 43) ...... 30 stint at furniture chain Design date operations at its New York “It isn’t possible to sustain the lier this year, it acquired Hamburg, Maxymiser (No. 15) ...... 22 Within Reach, further fueling Fab’s headquarters in order to alleviate type of growth rate you see early on Germany-based MassivKonzept, MediaMath (No. 17) ...... 23 MKG Productions (No. 38) ...... 29 standing as a curator of the designs sourcing overlaps with Europe.Last with startup companies, yet man- and transformed the furniture mak- Mondo (No. 29) ...... 26 coveted by young professionals. week’s round of job cuts, including agement grows up in an environ- er’s showroom into a Fab retail OnDeck Capital (No. 10) ...... 20 OnForce Solar (No. 11) ...... 20 The site quickly attracted fund- 84 in New York, leaves 404 global ment where they expect to,” said store—its first. PM Pediatrics (No. 47) ...... 31 ing from investors such as First staffers. The company, which de- Jeffrey Carr, clinical professor of Some analysts view these moves, Pride Global (No. 34) ...... 28 Prospect Capital (No. 39) ...... 29 Round Capital, which also took clined to comment for this story,has marketing and entrepreneurship at and the company’s focus on interna- Refinery29 (No. 3) ...... 16 stakes in New York e-commerce pi- eliminated nearly a third of its staff NYU Stern School of Business,not- tional growth,as positive steps in se- Regeneron Pharmaceuticals (No. 33) ...... 28 Remedy Health Media (No. 26) ...... 26 oneers Birchbox and Warby Parker. since July. ing that even big companies, such as curing Fab’s future. ScrollMotion (No. 16) ...... 22 (An executive from First Round did “Their customer-acquisition “You can overextend yourself so Shutterstock (No. 45) ...... 30 Apple and Microsoft, can run into Signature Systems Group (No. 36) ...... 29 not respond to a request for com- costs have been exorbitantly high, problems managing growth. much that it becomes detrimental,” Skyline Restoration (No. 49) ...... 31 Squarespace (No. 32) ...... 28 ment.) Fab expanded to Europe,ac- and that’s what’s been fueling the Fab’s answer has been to pivot its said Mr. Rice. “But a lot of this will Sterling Infosystems (No. 31) ...... 27 quiring operations in London and business,” said Ms. Mulpuru. “It’s a business, moving away from the be growing pains—less of a pivot Thrillist (No. 13) ...... 20 Ⅲ Tough Mudder (No. 2) ...... 16 Berlin. lot of artificial growth that isn’t sus- flash-sale model, which offers mer- and more of a refinement.” Tower Legal Solutions (No. 20) ...... 24 “They had a pretty unique set of tainable.” chandise to members at deep dis- Usablenet (No. 24) ...... 25 products,” said Kerry Rice, a senior In addition, Fab’s popularity has counts for a limited time, into a LISTEN to a discussion at Wavsys (No. 41) ...... 30 CrainsNewYork.com/podcasts Yodle (No. 44) ...... 30 analyst of Internet and digital media been on the wane. In August 2012, more traditional e-commerce ap- FAST. We know you are, now let everyone know. Let the Custom Reprint Department help you promote this great press. 50

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VOL. XXVIII, NO. 26, 27 WWW.CRAINSNEWYORK.COM DOUBLE ISSUE JUNE 25-JULY 8, 2012

CRAIN’S® NEW YORK BUSINESS CRAIN’S® VOL. XXVIII, NO. 26, 27 WWW.CRAINSNEWYORK.COM GREENDOUBLE ISSUE JUNE 25-JULYKEY 8, 2012 RESOURCES NEW YORK BUSINESS

CRAIN’SWhat it does: Executive and professional recruiting® NEW YORK BUSINESS VOL. XXVIII, NO. 26, 27 WWW.CRAINSNEWYORK.COM DOUBLE ISSUE JUNE 25-JULY 8, 2012 GREEN KEY RESOURCESHeadquarters: HOW IT GREW: Working for a recruiting 50VOL. XXVIII, NO. 26, 27 WWW.CRAINSNEWYORK.COM Manhattan firm eight years ago, Andrew Chayut, DOUBLE ISSUE JUNE 25-JULY 8, 2012 What it does: Executive and professionalThree-year growth recruiting rate: 184% Matthew Kutin and Robert Kahn, all 2011 revenue: former CPAs and financial executives, GREEN KEY RESOURCES Headquarters: HOW IT GREW:UndisclosedWorking for a recruitingdecided to goGREEN out on their KEY own. RESOURCES 50 Manhattan firm eight yearsProfitable? ago, AndrewYes Chayut,Initially, Green Key Resources, the Three-year growth rate: 184% Matthew Kutin and Robert Kahn,company all they started, focused on What it does: Executive and professional recruiting What it does: Executive and professional recruiting 2011 revenue: former CPAsfull-time and financial jobs in accounting executives, and finance. But soon after, the Undisclosed decided to partnersgo out on branched their own. out, forming divisions for nurses and Profitable? Yes Initially,other Green health Key Resources,care practitioners,Headquarters: the informationHOW IT GREW:technologyWorking for a recruiting HOW IT GREW: Manhattan Headquarters: Working for a recruiting 50 company professionalsthey started, and focused human-resources on specialists,firm eight years among ago, Andrew Chayut, Manhattan Three-year growth Matthew Kutin and Robert Kahn, all firm eight years ago, Andrew Chayut, full-time jobs in accounting andothers. finance. Four But years soon ago,after,rate they the: 184% added temporary staffing and 50 Three-year growth contract placement. former CPAs and financial executives, partners branched out, forming divisions for nurses2011 and revenue: rate: 184% Matthew Kutin and Robert Kahn, all other health care practitioners,Each information step of the technology way,GreenUndisclosed Key has keptdecided a laserlike to go focusout on their own. former CPAs and financial executives, professionals and human-resourceson its own specialists, employment amongProfitable? practices. Yes That has Initially,meant bringing Green Key Resources, the 2011 revenue: Undisclosed others. Four years ago, they addedon highly temporary vetted staffingrecruiters and with intensive industrycompany knowledge they started, focused on decided to go out on their own. Profitable? Yes INTRODUCING A NEWcontract YORK-AREA placement. and offering “very competitive”full-time jobs pay.Group in accounting managers and receivefinance. But soon after, the Initially, Green Key Resources, the COMPANY GROWINGEach AT step THE of the way,Green Keyproductivity-driven has kept a laserlike partnerscompensation. focus branched “Our out, goal forming is not to divisionsbe a for nurses and company they started, focused on SPEED OFon LIGHT its own employment practices.supermarket,” That has meant said Mr.bringingother Chayut. health “We care want practitioners, to compete informationat a technology full-time jobs in accounting and finance. But soon after, the on highly vetted recruiters with intensivehigh level industry in every knowledge area.”professionals and human-resources specialists, among partners branched out, forming divisions for nurses and INTRODUCING A NEWHOW YORK-AREA WE CHOSE THE WINNERSand offering “very competitive” pay.GroupThat approach managers others.has receive built Four a years loyal ago, clientele. they added “Their temporary staffing and COMPANY GROWING AT THE productivity-driven compensation.recruiters “Our knowgoal is their notcontract toindustries,do be a placement. their due diligence and other health care practitioners, information technology THE FAST 50 was open to privately heldsupermarket,” companies in the New said York Mr. City Chayut.find “We great want candidates,” to competeEach saidat a steplongtime of the client way,Green Robin Key Derin, has kept a laserlike focus SPEED OF LIGHTarea. Firms had to have at least $20 million in revenue in 2011 to enter. 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Grain.on “Their highly vetted recruiters with intensive industry knowledge cases where the unique circumstancesrecruiters of the company know or their industry industries,do their due diligenceand andoffering “very competitive”—anne pay.Group field managers receive contract placement. warranted a different approach.INTRODUCING However, being profitable A wasNEW not YORK-AREA THE FAST 50 was open to privately held companies in the New York City find great candidates,” said longtime client Robinproductivity-driven Derin, compensation. “Our goal is not to be a area. Firms had to have at least $20 million inmandatory revenue in to2011 make to theenter. list. We Companies COMPANYprovided backup for theGROWING figures they AT THE Each step of the way,Green Key has kept a laserlike focus ranked them based on revenue growth, as submitted.a percentage, Our goalfrom with2008 the to list was to providesenior a comprehensive SPEEDmanager lookofOF humanat LIGHTthe resources and communicationssupermarket,” said Mr. Chayut. “We want to compete at a on its own employment practices. That has meant bringing 2011. We indicated profitability, based on netfast-growing income, firmsexcept that in areselect having a real impactfor Continental in lifting the local economy,Grain. high level in every area.” so, with that goal in mind, we made a few exceptions to the inaugural-year cases where the unique circumstances of the company or industry —anne fieldThat approach has built a loyal clientele. “Their on highly vetted recruiters with intensive industry knowledge warranted a different approach. However,rules. being While, profitable for instance, was wenot HOWsought companies WE CHOSE that had beenTHE in business WINNERS mandatory to make the list. Companies providedfor fourbackup years, for wethe made figures exceptions they in cases where we felt a company with a recruiters know their industries,do their due diligence and and offering “very competitive” pay.Group managers receive THE FAST 50 was open to privately held companies in the New York City INTRODUCING A NEW YORK-AREA submitted. Our goal with the list was to provideslightly a comprehensive shorter revenue look athistory the was worth noting. We also made several find great candidates,” said longtime client Robin Derin, area. Firms had to have at least $20 million in revenue in 2011 to enter. We fast-growing firms that are having a real impactother in lifting exceptions the local regarding economy, the location of the company headquarters. productivity-driven compensation. “Our goal is not to be a ranked them based on revenue growth, as a percentage, from 2008 to senior manager of human resources and communications COMPANY GROWING AT THE so, with that goal in mind, we made a few exceptions to the inaugural-year 2011. We indicated profitability, based on net income, except in select supermarket,” said Mr. Chayut. “We want to compete at a rules. While, for instance, we sought companies that had been in business for Continental Grain. SPEED OF LIGHT cases where the unique circumstances of the company or industry for four years, we made exceptions in cases where we felt a company with a —anne field warranted a different approach. However, being profitable was not high level in every area.” slightly shorter revenue history was worth noting. We also made several mandatory to make the list. Companies provided backup for the figures they other exceptions regarding the location of the company headquarters. Th h h b il l l li l “Th i submitted. Our goal with the list was to provide a comprehensive look at the fast-growing firms that are having a real impact in lifting the local economy, so, with that goal in mind, we made a few exceptions to the inaugural-year rules. While, for instance, we sought companies that had been in business for four years, we made exceptions in cases where we felt a company with a slightly shorter revenue history was worth noting. We also made several other exceptions regarding the location of the company headquarters.

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32 | Crain’s New York Business | October 7, 2013 Special Advertising Section

INSIDE:

WHAT EVERY TENANT SHOULD CONSIDER BEFORE

SIGNING A COMMERCIAL/RETAIL LEASE ...... S2 HOW STARTUPS DISRUPTED THE NEW YORK CITY

OFFICE SPACE LEASING MARKET ...... S4

THE CAUTIOUS APPROACH TO BUYING FORECLOSURES ...... S6 Special Advertising Section

WHAT EVERY TENANT SHOULD CONSIDER BEFORE SIGNING A COMMERCIAL/RETAIL LEASE

By: C.S. Selinger

Whether it’s a landlord or tenant’s market, leasing Retail businesses, in particular, are advised to negotiate their own business interests—in the event that they commercial space in Gotham can be a daunting, an early lease termination clause if their gross revenues want to sublet the space before the lease expires, they complicated task. A misstep can potentially lead drop below a certain level. may have diculty lling the space with a suitable tenants to costly litigation or, worse yet, a shuttered subtenant. business. 3. THE RENT All too o en, tenants focus on the base rent and fail to 5. IMPROVEMENTS Due diligence and research are critical. A real estate take into consideration the other factors that could add Since the physical space usually requires some reno- broker experienced in representing tenant interests to their nancial obligation, such as a pro rata share of vation work to meet the business’s needs, tenants need and an attorney specializing in commercial leasing operating charges—including real estate taxes, common to understand whether the landlord will require rent agreements are also essential. area maintenance expenses and insurance costs. during the construction period, what improvements the lease allows, who will oversee the work and whether Without professional guidance, tenants can nd the place must be restored to its original state if the themselves locked into leases from which they 4. PROHIBITIONS Tenants need to make sure that neither local zoning business vacates the premises. cannot extricate themselves easily—a nancially laws nor the site’s certicate of occupancy dictate or painful circumstance if their businesses are failing— restrict the space’s use. is precaution is not only for or they can get hit with a costly, unanticipated real estate tax burden.

Here are ve issues every tenant should consider before signing a commercial or retail lease: 1. THE LOCATION A desirable venue can swi ly turn objectionable without safeguards that help ensure its lasting attractiveness. Commercial oce tenants, for exam- ple, need to make sure that the building’s services, condition and appearance will be maintained at the level that initially appealed to them. Retail tenants should try whenever possible to remove a clause from the lease that grants the landlord the right to relocate the business to a dierent space in a shop- ping mall or building. It’s also advisable for retailers to negotiate a provision that gives them the assur- ance that the landlord won’t lease space within the property to a business that is a direct competitor.

“It’s very hard these days to get an exclusive-use provision in a lease, but it’s not impossible, depend- ing on the property, the lease and the landlord,” said says Gary Wachtel, a Manhattan attorney specializ- ing in commercial real estate leasing and litigation.

2. THE LEASE’S LENGTH Unless the business is well established and well nanced, experts generally advise tenants against wedding themselves to a ve- or ten-year lease. A DESIRABLE VENUE CAN A business may grow faster than anticipated and require larger digs, or the location may prove unsuitable in the years ahead. Start-up operations, SWIFTLY TURN OBJECTIONABLE in particular, are cautioned against signing any- thing longer than a two-year lease because of their WITHOUT SAFEGUARDS THAT possible rapid growth or failure to survive. Hence, short-term leases with xed-rate renewal options are safer bets. Furthermore, whenever possible, it’s HELP ENSURE ITS LASTING a good idea to include an option that allows the tenant to consolidate or expand within the building ATTRACTIVENESS. in future years or sublet the space if the business seeks to vacate the property before the lease expires.

S2

Special Advertising Section

HOW STARTUPS DISRUPTED THE NEW YORK CITY OFFICE SPACE LEASING MARKET

By: Andrew Stein and Bert Rosenblatt

In case you haven’t heard, there’s a tech revolution hap- and representing the highest rst quarter leasing level About the authors pening in New York. In the past two years, hundreds--if the downtown market has seen since 2004.” not thousands--of new tech companies have hatched in Andrew Stein has been representing oce tenants in NYC. Many of them are growing rapidly and gobbling As basic supply and demand theory suggests, if there’s NYC for the past 15 years. He is a graduate of Brown up oce space—and they want that space to be cool. an increased demand for space downtown and a xed University. amount of product, it follows suit that prices will go up. How do they dene “cool”? €ey want lo‚ or converted Prices have slowly increased the past six months, and Bert Rosenblatt won Rookie of the Year at Newmark in manufacturing space with big windows, high ceilings, we believe that downtown will get a lot more expensive 1997, is on the board of directors of REBNY and has been wood or concrete ƒoors and lots of open air. It is no in the coming year. Our prediction is that rents could exclusively representing tenants since 1999. longer about being in a glass and steel skyscraper and rise as much as 20% in the next year, particularly in the Vicus Partners is the premiere boutique tenant rep bro- winning the corner oce. €ose “Mad Men” days are lower-priced space that is in such hot demand. kerage rm in NYC. †ey are particularly active in tech, dead. €ese tech companies, and the 20-somethings non-pro t, law and nance. †e rm was founded by that are ƒocking to them, want to be in Union Square, If you are a long-term downtown tenant and you can Mr. Rosenblatt and Mr. Stein in 2007. More information Hudson Square or the Meat Packing district. renew your lease, do it. Like low mortgage rates, your opportunity to lock in cheap rents will end soon. is available on their website: vicuspartners.com. €is has created a major disruption to the NYC oce market. Prior to this tech craze, nance and law rms occupied the most real estate space, and they liked being in midtown and the plaza district. Typically, their oce installations had lots of private oces with dropped ceilings for C-suite executives and cubes for the rest of the sta‘. €ose looking to save money opted for similar buildings downtown.

In the past year--for the rst time ever--tech rms ab- sorbed more space than nance rms. €is radical shi‚ in demand has had huge nancial e‘ects on the area real estate people call “midtown south.”

For example, about two and a half years ago, we at Vicus Partners did a deal on a classic Union Square lo‚ for about $30 per square foot with a full work letter and a lot of free rent. Essentially, for $30 per square foot, the landlord also had a million dollars in tenant conces- sions to land this client.

Today that deal would be $55-$60 per square foot, with signicantly fewer concessions. €at’s a 100% increase in less than three years.

€ose lucky few who own buildings in this area are very happy. €e rest of us must face the disrupted new order of things in New York City commercial real estate.

Increased competition for space raised the costs in these hot tech areas, but the proliferation of tech rms landing in NYC has not diminished. Tech startups still want and need cheap space. As they have been priced INCREASED COMPETITION FOR out of the “cool” areas, their interest has shi‚ed to downtown Manhattan, where tenants can still nd a $30 per square foot deal. SPACE RAISED THE COSTS IN

In the great tradition of “if you build it, they will come,” savvy downtown landlords are embracing this new THESE HOT TECH AREAS, BUT breed of tenant by o‘ering “tech installations” in build- ings on Wall Street, Broad Street and lower Broadway. Space that previously might have been “pre-built” with THE PROLIFERATION OF TECH a traditional oce intensive installation is now being built with exposed ceilings, concrete ƒoors and lots of open space to attract these tech-centric tenants. FIRMS LANDING IN NYC HAS

€e strategy is working. PricewaterhouseCoopers reports in their most recent real estate survey that NOT DIMINISHED. “leasing activity has been extremely strong downtown, accounting for ve of the top ten new leases in the city

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THE CAUTIOUS APPROACH TO BUYING FORECLOSURES

By: Paul Cones

With a glut of foreclosures coming to market, many rank-and- le investors are discovering the nancial bene ts of purchasing distressed properties. For various reasons, foreclosed properties typically sell for just a fraction of the cost of non-distressed properties. While many are in poor shape, others demand just a few basic repairs. To avoid committing to a project that you can’t aord, keep these things in mind during the search process. 1. AUCTIONS: PROCEED WITH CAUTION While seasoned real estate developers and investment pros frequent foreclosure auctions that purport to oer below-market deals on high-quality properties, regular buyers should proceed with caution when it comes to the auction. Foreclosure auctions are fraught with nancial pitfalls. Since bidders generally aren’t permit- ted to inspect auction-ready properties from the inside, they’re oen blindsided with expensive repair projects. Worse, bidders have no way of knowing whether auction-ready homes are saddled with liens that can cost thousands of dollars to settle. While auctions have been known to create bargain-buying opportunities for persistent and knowledgeable buyers, they oer no guarantee of success. 2. APPEARANCES CAN BE DECEIVING It’s never a good idea to take a property at face value. Real estate experts encourage all buyers to commis- sion a property inspection before making any nancial commitments. If you’re in the market for a foreclosed property, this is absolutely mandatory. While virtu- ally all foreclosed properties require some repairs or updates, the conditions of the property can vary wildly. Fortunately, a relatively inexpensive inspection is usual- ly su€cient to uncover dangerous structural problems, potentially expensive code violations and other serious issues. In the space of an aernoon, your inspector will let you know whether your new property is likely to be a sound investment or a nightmarish money pit. 3. DEAL CAUTIOUSLY WITH A FORECLOSED PROPERTY IS DELINQUENT OCCUPANTS Be cautious when approaching delinquent owners and A POTENTIALLY LUCRATIVE oering them cash payments to abandon their homes and avoid eviction. While they may accept, there’s no guarantee that they’ll leave in good faith. In fact, delin- INVESTMENT, BUT THE quent owners sometimes trash their former property as a nal gesture of de ance. Needless to say, this can create an unforeseen headache and add thousands of PROCESS OF PURCHASING dollars to your renovation budget. Additionally, be sure to prevent nasty run-ins with previous occupants aer moving in by changing all of the property’s locks. ONE CAN BE DAUNTING

Instead of dealing directly with delinquent owners, another option is to hunt for bank-owned properties AND COMPLEX. that haven’t yet hit the auction block. Step ve describes a sensible “bank-owned strategy” in greater detail. (Continued on S8)

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(Continued from S6) 4. SECURE PREQUALIFICATION doesn’t mean that there’s a “correct” way to purchase a daunting and complex. With these common sense tips For the more risk-averse buyer, it’s best to buy fore- foreclosed property. Most experts recommend taking in mind, you’ll be better prepared to handle unexpected closed properties directly from a bank, mortgage lender a hybrid approach to the process. First, trawl desirable complications and ensure that your investment pays o or housing authority. Before doing so, secure “pre-ap- neighborhoods—both online using websites like Real- in a big way. proval” for any loans that you might need to facilitate tyTrac and in-person if possible—in search of foreclo- the purchase process.
is can be done through tradi- sure activity. Ideally, look for properties that appear to be in foreclosure but haven’t yet been listed as such. tional mortgage lenders or foreclosure specialists that About the author oer shorter-term nancing vehicles. Getting pre-ap- Once you nd a suitable property, approach the lender proved for your loan can give you the edge over buyers or authority that owns it and express interest in buying Paul Cones is the president of courthousedirect.com, who haven’t prepared in this manner. it outright. Although you may be required to make a which provides sales comparable reports that detail prop- good-faith deposit, chances are good that the managing erty sales containing similar characteristics, including 5. LOSE THE HERD MENTALITY party will agree to bypass the auction process and work addresses, sale amounts and transfer dates.
e pitfalls associated with coercing an existing occu- directly with you. pant to leave or hanging around a foreclosure auction in A foreclosed property is a potentially lucrative in- the hopes of striking it rich might be obvious, but that vestment, but the process of purchasing one can be

Crain’s On the Market: Actually, our Green Team will Insights into the NY do most of the work for Real Estate Industry is a you. They’ll help make you more energy efficient, special advertising section profitable and competitive. produced by Crain’s In fact, one of the few times Custom Connections you’ll have to lift a finger is to Studio. For more dial our phone number. information about this and other upcoming sections, please contact Trish Henry 1-877-797-6347 at thenry@crainsnewyork. conEd.com/energysavings com or (212) 210-0711.

WHO SAYS YOU HAVE TO EXPEND A LOT OF ENERGY TO SAVE IT?

S8 IN THE BOROUGHS MANHATTAN

pays a hefty sum for her 5,000- square-foot space but insists her Garment district spot staffers, whose ranks have grown to 24 from four in the 16 years since she Continued from Page 3 level, admits the property’s illustri- moved in,are happy to come to work trict changes, fashion will always ous history and its reputation as a there. Indeed, that’s one reason why have a home here,” said Michael “lucky” building that has brought she and her partner recently signed Seeve of the Clifton, N.J.-based success to many garment firms has a new seven-year lease. Mountain Development Corp, appeal. which has owned and managed the Indeed, in recent months that Quick deal 70,000-square-foot building since good fortune has continued. Vince, Similarly, fashion brand Alice 1979. which makes a clothing and shoe and Olivia outgrew its space in the That constancy comes as change line for women and has 6,000 square building in 2012, nine years after has swept the neighborhood. The feet on the fifth floor, has an- moving in. But when the building’s once dilapidat- nounced plans to go public. management asked the company in ed, crime-ridden Similarly, Cynthia Vincent, a 2006 about the possibility of taking Bryant Park had 112 2,000-square-foot women’s apparel over the retail space on the ground AGE of Bryant its rebirth as a Park Studios brand on the second floor, was floor, a deal was quickly struck. thriving amenity snapped up by private-equity firm “We weren’t yet operating any re- following a Gores Group. Joie itself has had a tail outlets,” said Deanna Berkeley, multimillion- 16 grand run in its 11 years in the build- philip murtha president of Alice and Olivia. “But dollar makeover NUMBER of ing, with sales quadrupling in the BRYANT TENANT: Alice and Olivia’s revenue has increased 50% since the store opened. we thought it was an opportunity to at the hands of a tenants period and with investment firm TA showcase our designs, and it’s private/public Associates recently buying a signif- worked out for us.” nonprofit in 75% icant stake in the company. spin off new lines as well, as was the What the landlord gets out of his She notes that revenue has in- 1992. Mean- SPACE occupied Of course,the building’s physical case with Cynthia Vincent, who investment is a dependable cash creased 50% since the 1,800-square- while, the gar- by fashion firms assets help, from its 14- to 20-foot once worked for Vince. cow. Tenants pay premium rents of foot women’s clothing and accesso- ment firms that ceilings to its two-story banks of To help make sure everything up to $60 per square foot in an area ry store opened. gave their name to the district,which multipaned windows. goes well, Mr. Seeve assists with where the average commercial rent “It’s helped us grow our busi- roughly stretches from Sixth to “Fashion is all about how our scheduling, runs interference with hovers around $45 per square foot. ness,” Ms. Berkeley explained, “and Ninth avenues between West 35th space looks and feels,” said Ms. building traffic and works with ten- Susan White, president of that kind of vision is part of the and West 41st streets, now occupy Soroca of Joie. “The romantic artist ants to grow their businesses. White + Warren, concedes that she building’s charm.” Ⅲ less than half of the area’s 4.5 million lofts, big windows and view of square feet of commercial space.Law Bryant Park give one the feeling of firms, financial firms and, in the past being in Paris.” few years, tech firms priced out of Mr. Seeve said Mountain midtown south have all moved in Development works hard behind Motivate. around Bryant Park Studios. the scenes to select tenants who complement each other. Celebrate. Single focus “When a landlord can cluster the The landmarking of the ornate right players in the industry, their property a quarter-century ago en- property takes on a life of its own,” Congratulate. Macy’s Gift Cards are sured its physical survival. But it is he adds,calling Bryant Park Studios the perfect present for the landlord’s strategy of focusing its own “ecosystem.” Designers sell clients, customers and on one industry that gets the credit to many of the same stores, allowing employees. Redeemable for the property’s ongoing against- retail buyers to shop for multiple la- at over 800 stores the-odds vitality. bels beneath one ornate roof. Clus- nationwide and on Holly Soroca, president of sales tering designers has created oppor- for Joie, the women’s brand that oc- tunities for players to cross over macys.com, they’re one cupies two floors plus a mezzanine from one tenant to another or even of the smartest business decisions you’ll make this year! And, they FROM never expire. AROUND Call 1-800-452-4440 and be sure to ask about our THE CITY volume discounts, or visit macys.com/corporatesales BRONX City eyes buses for expanded mall A big new Macy’s will open next year as part of a major expansion of the busy Bay Plaza Mall in the north Bronx. While many area residents can’t wait, others are already fretting istockphoto that the already overtaxed bus system BUS SERVICE in the Co-op City area may not won’t be able to cope.That would be be able to cope with increased demand. especially bad news for many of the 60,000 people, many of them elder- ly, who live in the vast Co-op City and MetroCard data, ridership complex that borders the mall on two counts and bus rider surveys to col- sides. Bus service on three local lines lect information and engineer better was reduced drastically in 2010 amid service for the eastern Bronx com- MTA budget cuts. munity,according to the MTA’s op- “There’s a long wait period, and erations planning unit. it also results in a two-fare zone,” The MTA study is part of a larg- said Kenneth Kearns, district man- er city effort to ease traffic tie-ups in ager for Community Board 10, the area as visitors travel to and from which includes the mall. “It’s a lot the 2 million-square-foot mall.The for the older residents.” city is looking into reworking sec- Help may be on the way, howev- tions of the Hutchinson River Park- er.The MTA responded to commu- way that runs along the east side of nity outcry and in August kicked off the mall, and even possibly adding a five-month study of area bus lines. ferry service to Co-op City. The study will use MTA Bus Time —laura lorenzetti

October 7, 2013 | Crain’s New York Business | 41 TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM VENTURE CAPITAL PUBLIC & LEGAL NOTICES Notice of Qualification of SFERRA Fine Linens, LLC. Authority filed with THE PORT AUTHORITY OF NEW YORK & NEW JERSEY NY Dept. of State on 8/12/13. Office location: NY County. Princ. bus. addr.: REQUEST FOR PROPOSALS FOR PERFORMANCE 15 Mayfield Ave., Edison, NJ 08837. LLC formed in DE on 7/30/13. NY Sec. OF EXPERT PROFESSIONAL BROKERAGE SERVICES of State designated agent of LLC upon FOR THE SUBLEASE OF SPACE WITHIN 4 WORLD TRADE CENTER whom process against it may be served and shall mail process to: CT ON AN “AS-NEEDED” BASIS DURING 2013 - 2016 Corporation System, 111 8th Ave., NY, NY 10011. DE addr. of LLC: 1209 The Port Authority of New York and New Jersey is seeking to identify firms interested in Orange St., Wilmington, DE 19801. responding to a Request for Proposals (RFP) for the Performance of Expert Professional Cert. of Form. filed with DE Sec. of Brokerage Services for the Sublease of Space within 4 World Trade Center on an State, Townsend Bldg., Dover, DE “as-needed” basis during 2013-2016. 19901. Purpose: all lawful purposes. RFP #34946 may be obtained online at http://www.panynj.gov/business-opportunities/bid- Notice of Formation of proposal-advertisements.html?tabnum=6. Addenda to the RFP, if any, will be posted at this CANNON/STUART MANAGEMENT, site. Monitor the advertisement on the web site to ensure your awareness of any changes. LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on 08/14/13. If you have any technical problems accessing the documents online, email us at Office location: NY County. SSNY [email protected] or call us at (201) 395-5229 for assistance. Your email should include designated as agent of LLC upon whom the RFP number, your firm name, email address, contact person, mailing address, and phone process against it may be served. number. SSNY shall mail process to c/o Cole, Schotz, Meisel, Forman & Leoanrd, It is currently anticipated that proposals shall be due by 2:00 PM on October 22, 2013 or as P.A., 900 Third Ave., 16th Fl., NY, NY otherwise indicated in the document. Proposals must have the RFP Number and full legal firm 10022. Purpose: Any lawful activity. name clearly indicated on the outside package. Notice of Formation of Biscuits & Bath Send Proposal(s) to: The Port Authority of NY & NJ, Attn: RFP Custodian, Procurement Sutton Place, LLC. Arts. of Org. filed REAL ESTATE TELECOMMUNICATIONS Department, 2 Montgomery Street, 3rd Floor, Jersey City, NJ 07302. with Secy. of State of NY (SSNY) on COMMERCIAL NYC'S MOTOROLA 8/15/13. Office location: NY County. SSNY designated as agent of LLC NOTICE OF QUALIFICATION OF Notice of Qualification of AG Private Hudson Valley of New York MOTOTRBO SPECIALISTS upon whom process against it may be 1)Investment Properties, off market deals ATCO SC-1, LLC. Authority filed Equity IV Annex LLC. Authority filed TM served. SSNY shall mail process to: 2) Development Sites; TOD, Apts, Retail, Hospitality MOTOTRBO with Secy of State of NY (SSNY) on with NY Dept. of State on 8/26/13. Professional Digital Two-way Radio c/o Biscuits & Bath Companies, LLC, 3) Data, Call, Communications Cntr, 100K SF Metro North 7/11/13. Office location: NY County. Office location: NY County. LLC System provides significant productivity 41 W. 13th St., NY, NY 10011, Attn: 4)Pawling, NY 50K SF/2.7 Acres Shwrm, Wrhse gains - reliably and affordably. LLC formed in DE on 5/30/13. SSNY formed in DE on 8/19/13. NY Sec. of 5)Cold Spring- Restaurant / Bistro / Office CEO. Purpose: any lawful activity. • Clearer voice capability and enhanced designated as an agent upon whom State designated agent of LLC upon 6)Metro North Train Stop Live-Work Artist/Service 7) Institutional – Schools, Dorms, Recreation HUD River battery life process may be served and shall mail whom process against it may be NOTICE OF FORMATION of 500 Park • Integrated voice and data for better [email protected] copy of process against LLC to: The served and shall mail process to: c/o Avenue Screening Room LLC Arts. Of productivity and privacy www.crproperties.com 845 485-3100 Corp Trust Co. 1209 Orange St. Angelo Gordon & Co., L.P., 245 Park Org. filed with Secy. of State of NY • Text messaging Wilmington, DE 19801. Principal Ave., 26th Fl., NY, NY 10167, principal • Doubles channel call capacity for (SSNY) on 08/01/13. Office Location: the price of one license business address: c/o Atco Properties. business address. DE address of LLC: NY County. SSNY designated as PUBLIC & LEGAL Cert of LLC filed with Secy of State of c/o The Corporation Trust Co., 1209 agent of LLC upon whom process *$100 TRADE-IN PER RADIO DE located: Division of Corporations, Orange St., Wilmington, DE 19801. against it may be served. SSNY shall NOTICES Call to learn more or to P.O. Box 898, Dover, DE 19903. Cert. of Form. filed with DE Sec. of schedule a professional, mail process to Eugene F. Getty, Notice of Qualification of Ampere no-obligation survey or Purpose: any lawful act. State, Townsend Bldg., Dover, DE Kellner Herlihy Getty & Friedman, LLP, 19901. Purpose: all lawful purposes. Solar Owner II, LLC. Authority filed on-site demo. Notice of Qualification of Rand 470 Park Avenue South, 7N, NY, NY with NY Dept. of State on 9/16/13. Advisors, LLC. Authority filed with NOTICE OF FORMATION OF LIMITED 10016. Purpose: Any lawful activity. Office location: NY County. LLC NY Dept. of State on 8/29/13. Office LIABILITY COMPANY. NAME: WU 45 formed in DE on 8/13/13. NY Sec. of Notice of Formation of ANDREAS location: NY County. Princ. bus. addr.: E 25-37B LLC. Articles of Organization State designated agent of LLC upon ANASTASIS LLC. Arts. of Org. filed 42 Regatta View Dr., Saratoga Springs, were filed with the Secretary of State whom process against it may be with Secy. of State of NY (SSNY) on NY 12866. LLC formed in DE on of New York (SSNY) on 08/29/13. served and shall mail process to: c/o 05/17/13. Office location: NY County. 8/27/13. NY Sec. of State designated Office location: New York County. SSNY CT Corporation System, 111 8th 33 East 33rd Street SSNY designated as agent of LLC agent of LLC upon whom process has been designated as agent of the Ave., NY, NY 10011, regd. agent New York, NY 10016 upon whom process against it may be against it may be served and shall LLC upon whom process against it may upon whom process may be served. 212-532-7400 served. SSNY shall mail process to mail process to: c/o CT Corporation be served. SSNY shall mail a copy of DE address of LLC: 1209 Orange St., www.metrocomradio.com Corporation Service Co., 80 State St., System, 111 8th Ave., NY, NY 10011. process to the LLC, c/o Katherine Wu, Wilmington, DE 19801. Cert. of Albany, NY 12207, regd. agent upon DE addr. of LLC: c/o The Corporation Esq., 200 West 67th Street, Unit 22D, Form. filed with DE Sec. of State, whom and at which process may be Trust Co., 1209 Orange St., New York, New York 10023. 401 Federal St., Dover, DE 19901. PUBLIC & LEGAL served. Purpose: Any lawful activity. Wilmington, DE 19801. Cert. of Purpose: For any lawful purpose. Purpose: all lawful purposes. Form. filed with DE Sec. of State, 401 NOTICE OF QUALIFICATION of ISOS NOTICES NOTICE OF FORMATION OF 1158 Second Avenue, LLC. Arts. of Federal St., Dover, DE 19901. JEWELRY LLC. Authority filed with MOOSTACHIO LLC. Arts of Org filed Org. filed with Secy. of State of NY Notice of Formation of Limited Liability Purpose: all lawful purposes. Secy of State of NY (SSNY) on 8/9/13. with Secy of State of NY (SSNY) on (SSNY) on 08/23/13. Off. loc.: NY Company (LLC). Name: WILLIAM Office location: NY County. LLC Notice of Qualification: Pronology, 3/15/10. Office location: NY County. Co. SSNY designated as agent of PORTNOY LLC. Articles of formed in NJ on 3/17/13. SSNY LLC. Application of Authority filed SSNY designated as agent upon LLC upon whom process may be Organization filed by the Department designated agent upon whom process with SSNY on 08/23/2013. Office whom process may be served and served. SSNY shall mail process to of State of New York on: 08/15/2002. may be served and shall mail copy of location: New York County. LLC shall mail copy of process against 334 E. 94th Street, New York, NY Office location: County of New York. process against LLC to principal formed in California on 05/17/2013. LLC to: 60 Henry St, #15F, NY, NY 10128. Purpose: General. Purpose: any and all lawful activities. business address: 3 Preservation Secretary of State of New York Address to which SSNY mail a copy 10002. Purpose: any lawful act. Place, Princeton, NJ 08540. Cert of COMGROUP US HOLDING LLC, a (SSNY) designated as agent of LLC of any process against LLC: 17785 LLC filed with Secy of State of NJ domestic LLC, filed with the SSNY upon whom process against it may Center Court Drive, Suite 600 NOTICE OF FORMATION OF Thomas located: 33 West State St, Trenton, on 8/16/13. Office location: New York be served. SSNY shall mail a copy of Cerritos, CA 90703. Principal business Spine Consulting. Arts of Org filed NJ 08608. Purpose: any lawful act. County. SSNY is designated as agent process to: 151 West 17th Street address of the LLC: 3626 Hightide with Secy of State of NY (SSNY) on upon whom process against the LLC Unit 1G, New York, NY 10011. Dr. Rancho Palos Verdes, CA 90275. 4/9/13. Office location: NY County. Formation of LONG TERM CARE may be served. SSNY shall mail Certificate of LLC filed with Secy of SSNY designated as agent upon CONVERSION FUNDING, LLC filed process to: Trief & Olk, 150 E. 58th St., Notice of Qualification of Hayden State of CA located: 1500 11th whom process may be served and with the Secy. of State (SSNY) on 34th Fl., NY, NY 10155-0002. Asset VII, LLC. App. for Auth. filed Street, Sacramento, CA 95814. shall mail copy of process against 12/28/12. Office loc.: New York General Purposes. with Secy. of State of NY (SSNY) on LLC to principal business address: County. SSNY designated as agent of 9/3/13. Office location: NY County. NOTICE OF QUALIFICATION of 401 E 62nd St, Apt 2B, NY, NY LLC upon whom process against it Notice of Formation of Diane Gilman LLC formed in Delaware (DE) on Newmyer Contracting llc. Arts of Org 10065. Purpose: any lawful act. may be served. The principal business Fashion, LLC. Arts. of Org. filed with 9/18/12. SSNY designated as agent filed with Secy of State of NY (SSNY) loc. and address SSNY shall mail Secy. of State of NY (SSNY) on 7/29/13. of LLC upon whom process against on 9/6/13. Office location: NY County. NOTICE OF FORMATION OF Mission process to is 712 5th Ave., 12th Fl., Office location: NY County. SSNY it may be served. SSNY shall mail LLC formed in CT on 1/28/05. SSNY Possible Acupuncture, PLLC. Arts of New York, NY 10019. Purpose: Any designated as agent of LLC upon whom process to: Capitol Services, Inc., designated agent upon whom process Org filed Secy of State of NY (SSNY) lawful activity. process against it may be served. 1218 Central Ave., Ste. 100, Albany, may be served and shall mail copy of on 12/6/12. Office location: NY County. SSNY shall mail process to: The LLC, NY 12205. DE address of LLC: 1675 process against LLC to principal SSNY designated agent upon whom Notice of formation of 2530 FOSTER 325 5th Ave., Apt. 39C, NY, NY South State St., Ste. B, Dover, DE business address: 32 Centre St., process may be served and shall mail PARTNERS LLC Arts. of Org. filed 10016. Purpose: any lawful activity. 19901. Arts. of Org. filed with DE Mansfield Center, CT 06250. Cert. of copy of process against PLLC to: with the Sect’y of State of NY (SSNY) Secy. of State, 401 Federal St., Ste. LLC filed with Secy of State of CT: US Corp Agents, Inc. 7014 13th Ave, on 7/31/2013. Office location, County Notice of Qualification of IH3 PROP- 30 Trinity St., Hartford, CT. Purpose: Ste 202 Bklyn, NY 11228. Principal of New York. SSNY has been ERTY HOLDCO L.P. Authority filed 4, Dover, DE 19901. Purpose: any lawful act or activity. any lawful act. business address: 130 W 42nd St, NY, designated as agent of the LLC upon with Secy. of State of NY (SSNY) on NY. Purpose: any lawful act. whom process against it may be 08/28/13. Office location: NY County. NOTICE OF QUALIFICATION of NOTICE OF QUALIFICATION of served. SSNY shall mail process to: LP formed in Delaware (DE) on Westchase Residential Assets II LLC. Westchase Residential Assets LLC. Notice of Qualification of Hayden The LLC, 171 West 80th St., #1, NY 08/08/13. Princ. office of LP: 345 Park Authority filed with Secy of State of Authority filed with Secy of State of Asset IX, LLC. App. for Auth. filed NY 10024. Purpose: any lawful act. Ave., NY, NY 10154. SSNY designated NY (SSNY) on 8/22/13. Office loca- NY (SSNY) on 8/22/13. Office loca- with Secy. of State of NY (SSNY) on as agent of LP upon whom process tion: NY County. LLC formed in DE tion: NY County. LLC formed in DE 9/3/13. Office location: NY County. MARVEL ARCHITECTS PLLC filed against it may be served. SSNY shall on 7/3/13. SSNY designated agent on 7/1/13. SSNY designated agent LLC formed in Delaware (DE) on Articles of Organization with the mail process to Corporation Service upon whom process may be served upon whom process may be served 3/20/13. SSNY designated as agent Department of State of NY on Co. (CSC), 80 State St., Albany, NY and shall mail copy of process and shall mail copy of process of LLC upon whom process against 7/11/2013. Office Location: County 12207-2543. Name and addr. of each against LLC to: 120 Gibraltar Rd, Ste against LLC to: 120 Gibraltar Rd, Ste it may be served. SSNY shall mail of New York. The Secretary of State general partner are available from 300, Horsham, PA 19044. Principal 300, Horsham, PA 19044. Principal process to: Capitol Services, Inc., of NY (“SSNY”) has been designated SSNY. DE addr. of LP: c/o CSC, 2711 business address: 7077 Bonneval business address: 7077 Bonneval 1218 Central Ave., Ste. 100, Albany, as agent of the PLLC upon whom Centerville Rd., Ste. 400, Wilmington, Rd, Ste 430, Jacksonville, FL 32216. Rd, Ste 430, Jacksonville, FL 32216. NY 12205. DE address of LLC: 1675 process against it may be served. DE 19808. Arts. of Org. filed with DE address: 2711 Centerville Rd, Ste DE address: 2711 Centerville Rd, Ste South State St., Ste. B, Dover, DE SSNY shall mail a copy of any such State of DE, Dept. of State, Div. of 400, Wilmington, DE 19808. Cert. of 400, Wilmington, DE 19808. Cert. of 19901. Arts. of Org. filed with DE process served to: c/o Goetz Corps., John G. Townsend Bldg., LLC filed with Secy of State of DE: LLC filed with Secy of State of DE: Secy. of State, 401 Federal St., Ste. Fitzpatrick LLP, One Penn Plaza, 401 Federal St., Ste. 4, Dover, DE 401 Federal St, Ste 4, Dover, DE 401 Federal St, Ste 4, Dover DE 4, Dover, DE 19901. Purpose: any # 4401, NY, NY 10119. Purpose: to 19901. Purpose: Any lawful activity. 19901. Purpose: any lawful act. 19901. Purpose: any lawful act. lawful act or activity. practice architecture.

42 | Crain’s New York Business | October 7, 2013 TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of ACA Notice of Qualification of SAGABON Notice of Qualification of AG Rio Notice of Qualification of Mara Notice of Qualification of Baker Bros. Insurance Services, LLC. Authority NEW YORK LLC. Authority filed with Grande FMC GP LLC. Authority filed Entertainment LLC. App. for Auth. Advisors LP. Authority filed with NY filed with NY Dept. of State on Secy. of State of NY (SSNY) on with NY Dept. of State on 8/5/13. filed with Secy. of State of NY (SSNY) Dept. of State on 7/30/13. Office 8/28/13. Office location: NY County. 09/17/13. Office location: NY County. Office location: NY County. LLC formed on 9/19/13. Office location: NY location: NY County. Princ. bus. addr.: Princ. bus. addr.: 2650 McCormick Dr., LLC formed in Delaware (DE) on in DE on 4/26/13. NY Sec. of State County. LLC formed in Delaware (DE) 667 Madison Ave., 21st Fl., NY, NY #200S, Clearwater, FL 33759. LLC 08/29/13. SSNY designated as agent designated agent of LLC upon whom on 7/19/13. SSNY designated as 10065. LP formed in DE on 1/3/00. NY formed in DE on 6/19/13. NY Sec. of of LLC upon whom process against it process against it may be served and agent of LLC upon whom process Sec. of State designated agent of LP State designated agent of LLC upon may be served. SSNY shall mail process shall mail process to: c/o Angelo against it may be served. SSNY shall upon whom process against it may be whom process against it may be to David B. Newman Esq., Day Pitney Gordon & Co., L.P., 245 Park Ave., 26th mail process to: c/o United served and shall mail process to: c/o served and shall mail process to: c/o LLP, 7 Times Sq., NY, NY 10036. DE Fl., NY, NY 10167, principal business Corporate Services, Inc., 10 Bank St., CT Corporation System, 111 8th Ave., National Registered Agents, Inc., 111 addr. of LLC: Corporation Service address. DE address of LLC: c/o The Ste. 560, White Plains, NY 10606. DE NY, NY 10011, regd. agent upon whom 8th Ave., NY, NY 10011, regd. agent Co., 2711 Centerville Rd., Ste. 400, Corporation Trust Co., 1209 Orange address of LLC: 874 Walker Road, process may be served. DE addr. of upon whom process may be served. Wilmington, DE 19808. Arts. of Org. St., Wilmington, DE 19801. Cert. of Ste. C, Dover, DE 19904. Arts. of LP: 1209 Orange St., Wilmington, DE addr. of LLC: 160 Greentree Dr., filed with Secy. of State of DE, Div. of Form. filed with DE Sec. of State, Org. filed with DE Secy. of State, DE 19801. Name/addr. of genl. ptr. Ste. 101, Dover, DE 19904. Cert. of Corps., John G. Townsend Bldg., Townsend Bldg., Dover, DE 19901. Townsend Bldg., Dover, DE 19901. available from NY Sec. of State. Cert. Form. filed with DE Sec. of State, 401 Federal St. - Ste. 4, Dover, DE Purpose: all lawful purposes. Purpose: any lawful activity. of LP filed with DE Sec. of State, 401 401 Federal St., Dover, DE 19901. 19901. Purpose: Any lawful activity. Notice of Formation of Limited Liability Federal St., Dover, DE 19901. Purpose: all lawful purposes. Notice of Qual. of Reef Road GP LLC, Purpose: all lawful purposes. Notice of Qual. of Arden Advisers II, Auth. filed Sec’y of State (SSNY) Company (LLC). Name: NY STAYS LLC. Notice of formation of Limited Liability L.P., Auth. filed Sec’y of State (SSNY) 2/20/13. Office loc.: NY County. LLC Articles of Organization filed by the Notice of Formation of Maele, LLC. Company (“LLC”). Name: Soundview 2/20/13. Office loc.: NY County. LP org. in DE 2/19/13. SSNY desig. as Department of State of New York on: Articles of Organization filed with the Senior Housing Managers LLC. org. in DE 2/13/13. SSNY desig. as agent of LLC upon whom process 08/21/2013. A Certificate of Amendment Secretary of State of NY (SSNY) on Articles of Organization filed with the agent of LP upon whom process against it may be served. SSNY shall changing the name to: NK STAYS 8/06/13. Office location: NY County. Secretary of State of the State of New against it may be served. SSNY shall mail copy of proc. to Att: Eric Rosen, LLC was filed in: 08/27/2013. Office SSNY has been designated as agent York (“SSNY”) on 8/12/13. N.Y. office mail copy of proc. to Att: Averell 747 Third Ave., 19th Fl., NY, NY location: County of New York. of LLC upon whom process against location: New York County. The SSNY Mortimer, 375 Park Ave., 32nd Fl., 10017. DE off. addr.: CSC, 2711 Purpose: any and all lawful activities. it may be served. SSNY shall mail a has been designated as agent of the NY, NY 10152. DE off. addr.: CSC, Centerville Rd., Wilmington, DE Secretary of State of New York copy of process to: 650 Sixth Avenue, LLC upon whom process against it 2711 Centerville Rd., Wilmington, DE 19808. Cert. of Form. on file: SSDE, (SSNY) designated as agent of LLC 4H, NY, NY 10011. Purpose: any may be served. The SSNY shall mail a 19808. Cert. of LP on file: SSDE, Townsend Bldg., Dover, DE 19901. upon whom process against it may lawful activities. copy of any process to LLC, c\o CPC be served. SSNY shall mail a copy of Townsend Bldg., Dover, DE 19901. Purp.: any lawful activities. Notice of Formation of CIRQUE Resources, Inc., 28 East 28th Street, process to: 115 Broadway, Ste 302, Name/addr. of each gen. ptr. avail. at PARALLEL LLC. Arts. of Org. filed 9th Floor, New York, NY 10016. Name/ Notice of Qual. of Reef Road Capital New York, NY 10006. SSNY. Purp.: any lawful activities. with Secy. of State of NY (SSNY) on address of each member available from LLC, Auth. filed Sec’y of State (SSNY) 08/16/13. Office location: NY County. SSNY. Purpose: any lawful activity. NOTICE OF FORMATION OF LIMITED 2/20/13. Office loc.: NY County. LLC Notice of Formation of Interjewel LIABILITY COMPANY. NAME: 25 CPW org. in DE 9/27/12. SSNY desig. as Realty LLC, Art. of Org. filed Sec’y of SSNY designated as agent of LLC Notice of Formation of P2 DONUT 18I LLC. Articles of Organization agent of LLC upon whom process State (SSNY) 11/18/10. Office location: upon whom process against it may be HOLDINGS LLC. Arts. of Org. filed were filed with the Secretary of State against it may be served. SSNY shall NY County. SSNY designated as served. SSNY shall mail process to c/o with Secy. of State of NY (SSNY) on of New York (SSNY) on 08/23/13. The mail copy of proc. to Att: Eric Rosen, agent of LLC upon whom process Grant, Herrmann, Schwartz & Klinger 03/22/10. Office location: NY County. latest date of dissolution is 12/31/2113. 747 Third Ave., 19th Fl., NY, NY against it may be served. SSNY shall LLP, 675 Third Ave., 26th Fl., NY, NY Princ. office of LLC: 135 W. 18th St., Office location: New York County. 10017. DE off. addr.: CSC, 2711 mail copy of process to c/o Law 10017. Purpose: Any lawful activity. 2nd Fl., NY, NY 10011. SSNY SSNY has been designated as agent Centerville Rd., Wilmington, DE Offices of Mitchell Devack, 90 Merrick designated as agent of LLC upon RAYDOOR REALTY, LLC, a domestic of the LLC upon whom process 19808. Cert. of Form. on file: SSDE, Ave., Ste. 500, E. Meadow, NY LLC, Arts. of Org. filed with the SSNY whom process against it may be against it may be served. SSNY shall Townsend Bldg., Dover, DE 19901. 11554. Purpose: any lawful activities. served. SSNY shall mail process to on 7/25/13. Office location: New York mail a copy of process to the LLC, Purp.: any lawful activities. NOTICE OF FORMATION OF JJJ Real County. SSNY is designated as the LLC at the addr. of its princ. 511 East 78th Street, #1G, New York, office. Purpose: Any lawful activity. NOTICE OF FORMATION OF 888 Estate, LLC. Arts of Org filed with Secy agent upon whom process against New York 10021. Purpose: For any of State of NY (SSNY) on 6/28/13. the LLC may be served. SSNY shall Notice is hereby given that an On- lawful purpose. GIFTS LLC. Arts of Org filed with Secy of State of NY (SSNY) on 8/29/13. Office location: NY County. SSNY mail process to: The LLC, 134 W. Premises Tavern Wine Liquor License designated as agent upon whom 29th St., Ste. 909, NY, NY 10001. for beer and wine has been applied Notice of Formation of Limited Liability Office location: NY County. SSNY Company (LLC). Name: LEGATO designated agent upon whom process process may be served and shall mail General Purposes. for by the undersigned to permit the copy of process against LLC to: CT sale of beer and wine at retail rates JURIS, LLC. Articles of Organization may be served and shall mail copy of Notice of Formation of WSTC EVENTS filed by the Department of State of process against LLC to principal Corporation System, 111 Eighth Ave, LLC. Arts. of Org. filed with Secy. of for on-premises consumption at NY, NY 10011. Principal business Table 135 Manhattan Chelsea located New York on: 07/31/2013. Office business address: C/O TORKIAN State of NY (SSNY) on 05/21/13. Office location: County of New York. GROUP 1650 BROADWAY, Ste 910, NY, address: 225 Nod Rd, Ridgefield, CT location: NY County. Princ. office of at 135 West 30th Street, New York, 06877. Purpose: any lawful act. NY 10001 under the Alcoholic Purpose: any and all lawful activities. NY 10019. Purpose: any lawful act. LLC: 1140 Broadway, 4th Fl., NY, NY Secretary of State of New York 10001. SSNY designated as agent of Beverage Control Law. Courtyard Notice of Qualification of Headstrong Notice of Qual. of Roystone Capital Management Corporation & 135 (SSNY) designated as agent of LLC Partners LP, Auth. filed Sec’y of State LLC upon whom process against it may upon whom process against it may Services, LLC. Authority filed with be served. SSNY shall mail process West 30th Hotel LLC. Secy. of State of NY (SSNY) on (SSNY) 2/19/13. Office loc.: NY be served. SSNY shall mail a copy of County. LP org. in DE 11/16/12. SSNY to the LLC at the addr. of its princ. NOTICE OF FORMATION OF LIMITED process to: c/o Schwartzman Garelik 6/4/13. Office location: NY County. office. Purpose: Any lawful activity. LLC formed in Delaware (DE) on desig. as agent of LP upon whom LIABILITY COMPANY. NAME: LKD Walker & Troy, P.C., 355 Lexington process against it may be served. PARTNERS 2004, LLC. Articles of Avenue, New York, NY 10017. 7/30/98. SSNY designated as agent Notice of Formation of On the Way of LLC upon whom process against SSNY shall mail copy of proc. to Att: to Brooklyn, LLC. Arts. of Org. filed Organization were filed with the Richard Barrera, 767 Third Ave., 6th Secretary of State of New York Notice of Qual. of Roystone Capital it may be served. SSNY shall mail with Secy. of State of NY (SSNY) on Holdings LLC, Auth. filed Sec’y of process to: National Registered Fl., NY, NY 10017. DE off. addr.: CSC, 9/18/13. Office location: NY County. (SSNY) on 03/19/04. The latest date 2711 Centerville Rd., Wilmington, DE of dissolution is 07/31/2099. Office State (SSNY) 2/19/13. Office loc.: NY Agents, Inc., 111 Eighth Ave., NY, NY SSNY designated as agent of LLC County. LLC org. in DE 11/16/12. SSNY 10011. Address to be maintained in 19808. Cert. of LP on file: SSDE, upon whom process against it may location: New York County. SSNY Townsend Bldg., Dover, DE 19901. has been designated as agent of the desig. as agent of LLC upon whom DE: 160 Greentree Dr., Ste. 101, be served. SSNY shall mail process process against it may be served. Dover, DE 19904. Arts of Org. filed Name/addr. of each gen. ptr. avail. at to: The LLC, c/o Gilbride, Tusa, Last LLC upon whom process against it SSNY. Purp.: any lawful activities. may be served. SSNY shall mail a SSNY shall mail copy of proc. to Att: with the DE Secretary of State, 401 & Spellane LLC, 708 Third Ave., 26th copy of process to the LLC, c/o Richard Barrera, 767 Third Ave., 6th Federal St., Ste. 4, Dover, DE 19901. NOTICE OF FORMATION OF Celtic Fl., NY, NY 10017. Purpose: any Lawrence P. Wolf, Esq., Six Hemlock Fl., NY, NY 10017. DE off. addr.: CSC, Purpose: any lawful activities. Knot Advisors LLC. Arts of Org filed lawful activity. Hills, Chappaqua, New York 10514. 2711 Centerville Rd., Wilmington, DE with Secy of State of NY (SSNY) on Notice of Formation of CPW 1210 LLC. 19808. Cert. of Form. on file: SSDE, Notice of Qualification of 666 OCR LL, Purpose: For any lawful purpose. LLC. Authority filed with Secy. of State 8/5/13. Office location: NY County. Arts. of Org. filed with Secy. of State Townsend Bldg., Dover, DE 19901. SSNY designated as agent upon NOTICE OF QUALIFICATION of of NY (SSNY) on 09/13/13. Office of NY (SSNY) on 07/25/13. Office Purp.: any lawful activities. whom process may be served and Gemini CP Operator, LLC. Authority location: NY County. LLC formed in location: NY County. SSNY designated shall mail copy of process against filed with Secy of State of NY (SSNY) Notice of Qualification of RCM MEDIA Delaware (DE) on 08/12/13. Princ. as agent of LLC upon whom process LLC to principal business address: on 8/14/13. Office location: NY County. LLC. Authority filed with Secy. of State office of LLC: 280 Park Ave., 36W, NY, against it may be served. SSNY shall 262 Central Park West, Ste 5D, NY, LLC formed in DE on 5/9/13. SSNY of NY (SSNY) on 09/19/13. Office NY 10017. SSNY designated as agent mail process to c/o McLaughlin & NY 10024. Purpose: any lawful act. designated agent upon whom location: NY County. LLC formed in of LLC upon whom process against it Stern, LLP, Attn: Geoffry R. Handler, process may be served and shall Pennsylvania (PA) on 08/10/10. SSNY may be served. SSNY shall mail Notice of Formation of CSC 135 EAST 260 Madison Ave., NY, NY 10016. mail copy of process against LLC to: designated as agent of LLC upon whom process to c/o Corporation Service Co., 57TH STREET LLC. Arts. of Org. filed Purpose: Any lawful activity. c/o CSC, 80 State St., Albany, NY process against it may be served. SSNY 80 State St., Albany, NY 12207-2543. with Secy. of State of NY (SSNY) on NOTICE OF FORMATION OF Sheryl 12207. Principal business address: shall mail process to c/o Richard C. DE addr. of LLC: 2711 Centerville 09/25/13. Office location: NY County. Checkman Design LLC. Arts of Org c/o CSC 2711 Centerville Rd, Ste Morais, 309 E. 49th St., Apt. 5E, NY, Rd., Ste. 400, Wilmington, DE 19808. Princ. office of LLC: c/o Cohen filed with Secy of State of NY (SSNY) 400, Wilmington, DE 19808. Cert. of NY 10017. PA addr. of LLC: 2595 Arts. of Org. filed with Secy. of State Brothers Realty Corporation, 750 on 5/30/13. Office location: NY LLC filed with Secy of State of DE: Interstate Dr., St.103, Harrisburg, PA of DE, 401 Federal St., Dover, DE Lexington Ave., 28th Fl., NY, NY 10022. County. SSNY designated as agent 401 Federal St. Ste 4, Dover, DE 17110. Arts. of Org. filed with Secy. 19901. Purpose: Any lawful activity. SSNY designated as agent of LLC upon whom process may be served 19901. Purpose: any lawful act. of the Commonwealth, 333 Market upon whom process against it may be and shall mail copy of process against Notice of Qualification of PWP Growth St., 16th Fl., Harrisburg, PA 17121. served. SSNY shall mail process to LLC to principal business address: Equity Fund I (B) LP. Authority filed Notice of Qualification of Crestview Purpose: Any lawful activity. Charles S. Cohen at the princ. office of 531 E 87th St, 1C, NY, NY 10128. with Secy. of State of NY (SSNY) on Offshore Holdings III (FF), L.P. the LLC. Purpose: Any lawful activity. Purpose: any lawful act. Authority filed with NY Dept. of State Notice of Qualification of Avid 08/08/13. Office location: NY County. on 8/30/13. Office location: NY County. Technology Professionals, LLC. LP formed in Delaware (DE) on NOTICE OF AUTHORIZATION OF Notice of Qualification of L&L 380 Princ. bus. addr.: 667 Madison Ave., Authority filed with Secy. of State of NY 03/18/13. Princ. office of LP: PWP FOREIGN LLC. Name: Iguana MADISON LEASING AGENT LLC. 10th Fl., NY, NY 10065. LP formed in (SSNY) on 8/14/13. Office location: Growth Equity Fund I GP LLC, c/o Healthcare Partners, LLC. Date of Authority filed with Secy. of State of NY Cayman Islands (CI) on 5/8/13. NY NY County. LLC formed in Maryland Perella Weinberg Partners Capital formation: 8/25/08. Date Authorized: (SSNY) on 08/08/13. Office location: Sec. of State designated agent of LP (MD) on 8/8/03. SSNY designated Management LP, 767 Fifth Ave., NY, 7/25/13. Jurisdiction of Organization: NY County. LLC formed in Delaware upon whom process against it may as agent of LLC upon whom process NY 10153. SSNY designated as agent Delaware. Principal Office: 551 5th (DE) on 08/06/13. Princ. office of LLC: be served and shall mail process to: against it may be served. SSNY of LP upon whom process against it Ave., Ste. 1120, NY NY 10176. SSNY c/o L&L Holding Company, LLC, 142 c/o CT Corporation System, 111 8th shall mail process to: National may be served. SSNY shall mail desig. agent of LLC upon whom W. 57th St., NY, NY 10019. SSNY Ave., NY, NY 10011. CI addr. of LP: Registered Agents, Inc., 111 Eighth process to the LP at the addr. of its process may be served. SSNY shall designated as agent of LLC upon whom c/o Maples Corporate Services Ltd., Ave., NY, NY 10011, also the registered princ. office. Name and addr. of each mail copy of process to: 551 5th process against it may be served. SSNY PO Box 309, Ugland House, Grand agent. Address to be maintained in general partner are available from Ave., Ste. 1120, NY NY 10176. shall mail process to c/o Corporation Cayman, KY1-1104, CI. Name/addr. MD: 6996 Columbia Gateway Dr., Ste. SSNY. DE addr. of LP: c/o Registered Agent: Corporation Trust Service Co., 80 State St., Albany, NY of genl. ptr. available from NY Sec. of 204, Columbia, MD 21046. Arts of Corporation Service Co., 2711 Co., 1209 Orange St., Wilmington, 12207-2543. DE addr. of LLC: 2711 State. Cert. of LP filed with Registrar Org. filed with the MD Dept. of Centerville Rd., Ste. 400, Wilmington, DE 19801. Officer in jurisdiction of Centerville Rd., Ste. 400, Wilmington, of Exempted LPs, Ground Fl., Citrus Assessment and Taxation, c/o Robert DE 19808. Arts. of Org. filed with formation where arts of org are filed: DE 19808. Arts. of Org. filed with Secy. Grove Bldg., Goring Ave., George E. Young, 301 W. Preston St., State of DE, Secy. of State, Div. of Delaware Sec. of State, 401 Federal of State, Div. of Corps., 401 Federal Town, Grand Cayman, CI. Purpose: Baltimore, MD 21201. Purpose: any Corps., 401 Federal St., Dover, DE St., Dover, DE 19901. Purpose: Any St., Ste. 4, Dover, DE 19901. Purpose: all lawful purposes. lawful activities. 19901. Purpose: Any lawful activity. lawful purpose. Any lawful activity.

October 7, 2013 | Crain’s New York Business | 43 TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES NOTICE OF QUALIFICATION OF Notice of Qual. of Reef Road Investors Notice of Qualification of QF Realty Notice of Qualification: Playback Notice of Formation; Integrity Square THC-ATCO, LLC. Authority filed with LP, Auth. filed Sec’y of State (SSNY) Services LLC. Authority filed with Innovations, LLC. Application of LLC Application for Authority filed Secy of State of NY (SSNY) on 2/20/13. Office loc.: NY County. LP Secy. of State of NY (SSNY) on Authority filed with SSNY on with SSNY on 1/4/2012. Off. Loc.: New 7/25/13. Office location: NY County. org. in DE 2/19/13. SSNY desig. as 08/21/13. Office location: NY County. 08/23/2013. Office location: New York York Cnty. Arts. of Org. filed with SSDE LLC formed in DE on 10/14/09. SSNY agent of LP upon whom process LLC formed in Delaware (DE) on County. LLC formed in California on on 2/24/2010. SSNY designated as designated as an agent upon whom against it may be served. SSNY shall 08/16/13. Princ. office of LLC: 9 03/03/2008. Address to which SSNY agent of LLC whom process may be process may be served and shall mail copy of proc. to Att: Eric Rosen, Murray St., Apt. 6NW, NY, NY 10007. mail a copy of any process against served. SSNY shall mail process to: mail copy of process against LLC to: 747 Third Ave., 19th Fl., NY, NY SSNY designated as agent of LLC LLC: 17785 Center Court Drive, Suite c/o the LLC, 49 West 23rd Street, 10th United Corporate Services, Inc. 874 10017. DE off. addr.: CSC, 2711 upon whom process against it may 600 Cerritos, CA 90703. Principal Floor, New York, NY 10010. Address Walker Rd., Suite C, Dover, DE Centerville Rd., Wilmington, DE be served. SSNY shall mail process business address of the LLC: 1379 required to be maintained in DE: c/o 19904. Cert of LLC filed with Secy 19808. Cert. of LP on file: SSDE, to c/o Qazi Fazal at the princ. office Park Western Dr. Ste 363 San Pedro, National Registered Agents Inc., 160 of State of DE located: Division of Townsend Bldg., Dover, DE 19901. of the LLC. DE addr. of LLC: 2711 CA 90732. Certificate of LLC filed with Greentree Drive, Suite 101, Dover, DE Corporations, P.O. Box 898, Dover, Name/addr. of each gen. ptr. avail. at Centerville Rd., Ste. 400, Wilmington, Secy of State of CA located: 1500 19904, County of Kent. Name and DE 19903. Purpose: any lawful act. SSNY. Purp.: any lawful activities. DE 19808. Arts. of Org. filed with DE 11th Street, Sacramento, CA 95814. address of the authorized officer in DE Secy. of State, Div. of Corps., 401 where copy of Arts. of Org. is filed: Notice of Formation of CA 2952 Notice of Formation of CONGREVE Notice of Formation of ANSE SALINE Secretary of State of Delaware, John HOLDINGS LLC. Arts. of Org. filed LLC. Arts. of Org. filed with Secy. of Federal St., Ste. 4, Dover, DE 19901. LLC. Arts. of Org. filed with Secy. of Purpose: Any lawful activity. G. Townsend Bldg., Federal and Duke with Secy. of State of NY (SSNY) on State of NY (SSNY) on 08/27/13. State of NY (SSNY) on 08/22/13. of York Streets, Dover, DE 19901. 8/30/13. Office location: NY County. Office location: NY County. SSNY Notice of Qual. of One Hudson Yards Office location: NY County. SSNY Purpose: all lawful activities. SSNY designated as agent of LLC designated as agent of LLC upon Owner LLC, Auth. filed Sec’y of State designated as agent of LLC upon upon whom process against it may whom process against it may be (SSNY) 5/14/13. Office loc.: NY County. whom process against it may be served. ALYSSA KAPITO INTERIORS, LLC, a be served. SSNY shall mail process served. SSNY shall mail process to LLC org. in DE 5/13/13. SSNY desig. SSNY shall mail process to M. Nader domestic LLC, filed with the SSNY on to: c/o The LLC, 1407 Broadway, G. Warren Whitaker, Day Pitney LLP, as agent of LLC upon whom process Ahari, 524 Broadway, Ste. 405, NY, NY 8/12/13. Office location: New York 41st Fl., NY, NY 10018. Purpose: any 7 Times Square, NY, NY 10036-7311. against it may be served. SSNY shall 10012. Purpose: Any lawful activity. County. SSNY is designated as agent upon whom process against the LLC lawful activity. Purpose: Any lawful activity. mail copy of proc. to CSC, 80 State St., IT TAKES 2…YOGA, LLC, a domestic Albany, NY 12207. DE off. addr.: CSC, may be served. SSNY shall mail NOTICE OF FORMATION OF Notice of Formation of 352E55RS, LLC. LLC, filed with the SSNY on 9/6/13. process to: The LLC, c/o Tannenholtz CVfromGreece LLC. Arts of Org filed Arts. of Org. filed with Secy. of State 2711 Centerville Rd., Wilmington, DE Office location: New York County. SSNY 19808. Cert. of Form. on file: SSDE, Consulting, 250 W. 54th St., Ste. 703, with Secy of State of NY (SSNY) on of NY (SSNY) on 08/05/13. Office is designated as agent upon whom NY, NY 10019. General Purposes. 6/13/13. Office location: NY County. location: NY County. Princ. office of Townsend Bldg., Dover, DE 19901. process against the LLC may be served. SSNY designated as agent upon LLC: 230 W. 39th St., 10th Fl., NY, NY Purp.: any lawful activities. SSNY shall mail process to: Michele Notice of Formation of Trudy Williams whom process may be served and 10018. SSNY designated as agent of NOTICE OF FORMATION OF LIMITED Vindigni, 3 Stuyvesant Oval, 10c, NY, LLC. Arts. Of Org. filed with Secy. of shall mail copy of process against LLC upon whom process against it may LIABILITY COMPANY. NAME: GOOZ NY 10009. General Purposes. State of NY (SSNY) on 8/8/2013. LLC to principal business address: be served. SSNY shall mail process to PARK, LLC. Articles of Organization Office location: New York County. Notice of formation of Zhang’s 10 Barclay St, #52A, NY, NY 10007. Sandeep Girdhar at the princ. office of were filed with the Secretary of State SSNY designated as agent of LLC International, L.L.C. Article of organi- Purpose: any lawful act. the LLC. Purpose: Any lawful activity. of New York (SSNY) on 12/19/05. upon whom process against it may be zation filed with the Secretary of State Office location: New York County. served. SSNY shall mail process to: Notice of Formation of 3660 NOT. OF FRMN of Hongdao LLC. of New York SSNY on May 24, 2013. SSNY has been designated as agent The LLC, 201 West 92nd Street, 1K, BROADWAY BCR, LLC. Arts. of Org. Art. of Org. f w/ Secy of STA of NY Office located in New York. SSNY has of the LLC upon whom process New York, NY 10025. Purpose/ filed with Secy. of State of NY (SSNY) (SSNY) 08/23/13. OFC LCTN: NY been designated for service of process. against it may be served. SSNY shall character of LLC: Any lawful purpose. on 08/06/13. Office location: NY Cty. SSNY is DA upon whom PROC SSNY shall mail copy of any process mail a copy of process to the LLC, c/o County. Princ. office of LLC: 20803 AGA it may be served. SSNY shall served against the LLC.: located at NOTICE OF FORMATION OF Bryan W. Kishner, Esq., 89 Fifth Avenue, Biscayne Blvd., Ste. 301, Aventura, FL mail a CY: C/O Hongdao LLC - 1500 325 W 38th St, Apt. 602, New York, NY KONTAKME LLC. Arts of Org filed Suite 802, New York, New York 10003. 33180. SSNY designated as agent of Broadway 22nd Fl, NY, NY 10036. 10018 Purpose: any lawful purpose. with Secy of State of NY (SSNY) on LLC upon whom process against it The Prin. bus. add.:1500 Broadway, Purpose: For any lawful purpose. 9/19/13. Office location: NY County. GEMAT REALTY LLC Art. of Org. filed may be served. SSNY shall mail 22nd Fl, NY, NY 10036. PUR: any Notice of Formation of BGCH SSNY designated agent upon whom Sec. of State of NY 04/04/2013. Off. process to the LLC at the addr. of its lawful act or ACTY. Apartments Managers LLC. Arts. of process may be served and shall Loc.: New York Co. SSNY designated princ. office. Purpose: Real estate. Org. filed with Secy. of State of NY mail copy of process against LLC to NOTICE OF FORMATION OF LI Malls, as agent upon whom process against (SSNY) on 8/20/13. Office location: principal business address: 142 E. Notice of formation of 2000 Broadway LLC. Arts of Org filed with Secy of it may be served. SSNY to mail copy NY County. SSNY designated as 98th St., # 3, NY, NY, 10029. 22A, L.L.C. Article of organization State of NY (SSNY) on 8/7/13. Office of process to The LLC, 233 East agent of LLC upon whom process Purpose: any lawful act. filed with the Secretary of State of location: NY County. SSNY designated 69th Street, New York, NY 10021. against it may be served. SSNY shall New York SSNY on April 24, 2013. agent upon whom process may be Purpose: Any lawful act or activity. Notice of Formation of BLUEH20 Office located in New York. SSNY served and shall mail copy of process mail process to: The LLC, c/o HOLDINGS, LLC. Arts. of Org. filed has been designated for service of against LLC to: CT Corporation Monadnock Construction, Inc., 155 Notice is here by given that license, with Secy. of State of NY (SSNY) on process. SSNY shall mail copy of System, 111 Eighth Ave, NY, NY 3rd St., Brooklyn, NY 11231. number 1273359, for beer and wine 09/05/13. Office location: NY County. any process served against the LLC., 10011. Principal business address: Purpose: any lawful activity. has been appied for by Han Dynasty Princ. office of LLC: c/o Richard located at 2000 Broadway, Unit # 22A, 225 Nod Rd., Ridgefield, CT 06877. NOTICE OF FORMATION of DORIA NYU CORP. to sell beer and wine at Zirinsky, Jr., 60 E. 56th St., 9th Fl., New York, NY 10023. Purpose: any Purpose: any lawful act. ENTERPRISES NYC, LLC Arts. Of Org. retail in a restaurant under the NY, NY 10022. SSNY designated as lawful purpose. Alcoholic Beverage Control Law at agent of LLC upon whom process Carnegie Hill Optometry, PLLC, filed with Secy. of State of NY (SSNY) on 07/30/13. Office Location: NY 90 3rd Ave., New York, NY 10003 for against it may be served. SSNY NOTICE OF FORMATION OF Teng Tea Articles of Organization filed with on premises consumption. shall mail process to the LLC at the LLC. Arts of Org filed with Secy of Secretary of State of NY (SSNY) on County. SSNY designated as agent of LLC upon whom process against it may Notice of Formation of JOLIET addr. of its princ. office. Purpose: State of NY (SSNY) on 3/4/13. Office 04/16/13. Office Location: NY County. Any lawful activity. location: NY County. SSNY designated SSNY designated as agent of LLC upon be served. SSNY shall mail process CROSSINGS HOLDINGS LLC. Arts. as agent upon whom process may be whom process against it may be served. to Alan M. Friedman, Esq., Kellner of Org. filed with Secy. of State of NY Hill Top Development LLC, Arts of Org served and shall mail copy of process SSNY shall mail a copy of process to: Herlihy Getty & Friedman, LLP, 470 (SSNY) on 08/09/13. Office location: filed with SSNY on 08/27/13. Off Loc: against LLC to: 88 2nd Ave #9, NY, NY The PLLC, 1387 Madison Ave., New Park Avenue South, 7N, NY, NY NY County. Princ. office of LLC: c/o New York County, SSNY designated 10003. Principal business address: York, NY 10029. Purpose: to engage 10016. Purpose: Any lawful activity. Cohen Commercial Properties, 9 E. as agent of LLC upon whom process 123 E 7th St, NY, NY 10009. in the profession of Optometry. NOTICE OF FORMATION OF 40th St., 10th Fl., NY, NY 10016. against it may be served. SSNY shall SSNY designated as agent of LLC Purpose: any lawful act. NOTICE OF FORMATION OF JC Ruchelman P.L.L.C. Arts of Org filed mail a copy of process to: The LLC, with Secy of State of NY (SSNY) on upon whom process against it may 566 7th Ave, Ste. 901, New York, NY NOTICE OF FORMATION OF Restaurants, LLC. Arts of Org filed be served. SSNY shall mail process PelagicOne LLC. Arts of Org filed with Secy of State of NY (SSNY) on 8/8/13. Office location: NY County. 10018. Purpose: to engage in any SSNY designated agent upon whom to the LLC at the addr. of its princ. lawful act. with Secy of State of NY (SSNY) on 6/28/13. Office location: NY County. office. Purpose: Any lawful activity. 7/01/13. Office location: NY County. SSNY designated as agent upon whom process may be served and shall NOTICE IS HEREBY GIVEN that a SSNY designated as agent upon process may be served and shall mail mail copy of process against PLLC LATIN TALENT OF AMERICA, LLC, a license number 1273712 for an on whom process may be served and copy of process against LLC to: CT to principal business address: 150 E. domestic LLC, Arts. of Org. filed with premises liquor license has been shall mail copy of process against Corporation System, 111 Eighth Ave, 58th St, 22nd Flr, NY, NY 10155. the SSNY on 7/18/13. Office location: applied for by Kingfish Group, LLC. LLC c/o Wiggin and Dana LLP, 450 NY, NY 10011. Principal business Purpose: any lawful act. New York County. SSNY is designated d/b/a Confessional to sell liquor at Lexington Ave., NY, NY 10017. address: 225 Nod Rd, Ridgefield, CT Notice of Qual. of Roystone Capital as agent upon whom process against retail in a restaurant under the Principal business address: TBD. 06877. Purpose: any lawful act. Advisors LLC, Auth. filed Sec’y of the LLC may be served. SSNY shall Alcoholic Beverage Control Law at Purpose: any lawful act. Notice of Qual. of Roystone Capital State (SSNY) 2/19/13. Office loc.: NY mail process to: The LLC, 15 William St., 308 E. 6th Street, New York, N.Y. NOTICE OF FORMATION OF LIMITED Management LP, Auth. filed Sec’y of County. LLC org. in DE 11/16/12. #18, NY, NY 10005. General Purposes. 10003 for on premises consumption. LIABILITY COMPANY. NAME: 818 State (SSNY) 2/19/13. Office loc.: NY SSNY desig. as agent of LLC upon Notice of Formation of Logan Spamer Notice of Formation of SMIND BROADWAY LLC. Articles of County. LP org. in DE 11/16/12. SSNY whom process against it may be Enterprises, LLC, Art. of Org. filed Monticello LLC. Arts. of Org. filed Organization were filed with the desig. as agent of LP upon whom served. SSNY shall mail copy of proc. Sec’y of State (SSNY) 2/13/13. Office with Secy. of State of NY (SSNY) on Secretary of State of New York (SSNY) process against it may be served. to Att: Richard Barrera, 767 Third Ave., location: NY County. SSNY designated 8/14/13. Office location: NY County. on 09/20/05. Office location: New York SSNY shall mail copy of proc. to Att: 6th Fl., NY, NY 10017. DE off. addr.: as agent of LLC upon whom process SSNY designated as agent of LLC County. SSNY has been designated Richard Barrera, 767 Third Ave., 6th CSC, 2711 Centerville Rd., Wilmington, against it may be served. SSNY shall upon whom process against it may be as agent of the LLC upon whom Fl., NY, NY 10017. DE off. addr.: CSC, DE 19808. Cert. of Form. on file: mail copy of process to Att: Donovan served. SSNY shall mail process to: process against it may be served. 2711 Centerville Rd., Wilmington, DE SSDE, Townsend Bldg., Dover, DE Spamer, 60 Sutton Place S., NY, NY The LLC, 401 West 45th St., NY, NY SSNY shall mail a copy of process to 19808. Cert. of LP on file: SSDE, 19901. Purp.: any lawful activities. 10022. Purpose: any lawful activities. 10036. Purpose: any lawful activities. the LLC, 13 Bennett Avenue, Townsend Bldg., Dover, DE 19901. Notice of Qualification of SUIT SUPPLY Top Hill Development LLC, Arts of Org Huntington Station, New York 11746. Name/addr. of each gen. ptr. avail. at Notice of Qualification of IH3 PROP- B.V. Authority filed with Secy. of State filed with SSNY on 08/27/13. Off Loc: Purpose: For any lawful purpose. SSNY. Purp.: any lawful activities. ERTY ILLINOIS, L.P. Authority filed of NY (SSNY) on 08/27/13. Office New York County, SSNY designated with Secy. of State of NY (SSNY) on Notice of Qualification of Wayport, Notice of Qualification of RGN-NEW location: NY County. LLC formed in as agent of LLC upon whom process 08/28/13. Office location: NY County. LLC. Authority filed with NY Dept. of YORK XLII, LLC. Authority filed with The Netherlands on 11/29/99. Princ. against it may be served. SSNY shall LP formed in Delaware (DE) on State on 9/4/13. Office location: NY Secy. of State of NY (SSNY) on office of LLC: 453 Broome St., NY, NY mail a copy of process to: The LLC, 08/08/13. Princ. office of LP: 345 Park County. Princ. bus. addr.: 208 S. Akard 08/27/13. Office location: NY County. 10013. SSNY designated as agent of 566 7th Ave, Ste. 901, New York, NY Ave., NY, NY 10154. SSNY designated St., Rm. 3028, Dallas, TX 75202. LLC LLC formed in Delaware (DE) on LLC upon whom process against it 10018. Purpose: to engage in any as agent of LP upon whom process formed in DE on 12/31/12. NY Sec. 08/12/13. Princ. office of LLC: 153058 may be served. SSNY shall mail lawful act. against it may be served. SSNY shall of State designated agent of LLC Dallas Pkwy., Ste. 400, Addison, TX process to the LLC at the princ. office mail process to Corporation Service upon whom process against it may 75001. SSNY designated as agent of of the LLC. The Netherlands addr. of Notice of Formation of Cantillon & Co. (CSC), 80 State St., Albany, NY be served and shall mail process to: LLC upon whom process against it LLC: Joop Geesinkweg 209, 1096AV Mann LLC. Arts. of Org. filed with 12207-2543. Name and addr. of each c/o CT Corporation System, 111 8th may be served. SSNY shall mail process Amsterdam, The Netherlands. Arts. Secy. of State of NY (SSNY) on general partner are available from Ave., NY, NY 10011, regd. agent to c/o Corporation Service Co., 80 of Org. filed with The Netherlands 5/23/13. Office location: NY County. SSNY. DE addr. of LP: c/o CSC, 2711 upon whom process may be served. State St., Albany, NY 12207-2543. DE Chamber of Commerce Commercial SSNY designated as agent of LLC Centerville Rd., Ste. 400, Wilmington, DE addr. of LLC: 1209 Orange St., addr. of LLC: 2711 Centerville Rd., Register Extract, Comeniusstraat 10, upon whom process against it may DE 19808. Arts. of Org. filed with Wilmington, DE 19801. Cert. of Ste. 400, Wilmington, DE 19808. Cert. P.O. Box 68, 1800 AB Alkmaar, be served. SSNY shall mail process State of DE, Dept. of State, Div. of Form. filed with DE Sec. of State, of Form. filed with DE Secy. of State, Netherlands. Purpose: International to: John L. McCormack, 181 E. 73rd Corps., John G. Townsend Bldg., 401 Federal St., Dover, DE 19901. 401 Federal St., Ste. 4, Dover, DE fashion-design company; retailer of St., Apt. 12C/D, NY, NY 10021. 401 Federal St., Ste. 4, Dover, DE Purpose: all lawful purposes. 19901. Purpose: Any lawful activity. high-end men’s clothing. Purpose: any lawful activity. 19901. Purpose: Any lawful activity.

44 | Crain’s New York Business | October 7, 2013 landlord Gottlieb Real Estate to renovate and expand the 45,000- Big-name Manhattan eateries to close square-foot property at Little West 12th Street to more than 75,000 square feet of office and retail space. filed a notice with the state Depart- said Piermario Del Rosso, who past several years, casualties of the Architecture companies Wormser Bice blames labor ment of Labor last week, warning bought out the original owner, economic downturn and an ag- and Associates and BKSK Archi- problems, Pastis that it will be laying off all 200 of its Roberto Ruggeri, in 2012. gressive growth strategy gone tects, as well as landmark consulting employees on Jan. 1, 2014. Bice’s employees are members of awry. firm Higgins & Quasebarth & Part- cites real estate as The reason given on the notice Local 100. Bill Granfield, president Mr. Del Rosso had been a part- ners, are joint-venture partners on reasons for shutting was financial. A representative from of the union, pointed out that this is ner with Mr. Ruggeri in some of the the project. Pastis did not return calls the third notice Bice has Bice U.S. outposts, but he no longer Construction is expected to be- requesting comment. filed in five years. “We owns any besides the midtown loca- gin there early next year and last BY ADRIANNE PASQUARELLI And after finding a 266 think they have used some tion,which is known for chic crowds about 18 months. According to a AND LISA FICKENSCHER NUMBER OF white knight to save it EMPLOYEES who of them as bargaining and a pricey menu. Last year, the real estate source, Mr. McNally and more than a year ago, Bice will be laid off as chips,” he said, adding, restaurant introduced a new bar other potential tenants are current- Two boldfaced New York restau- restaurant is facing closure a result of the however, that the union is menu, offering lighter fare and a ly negotiating with Aurora to sign rants, Pastis and Bice, could soon again.The East 54th Street closure of the two not currently negotiating a happy-hour program to boost its on for the new space, but no deals shutter. eatery, a mainstay for the restaurants new contract with the revenue. have been finalized. Pastis, hailed as a meatpacking past quarter-century, is restaurant. Representatives from Aurora district pioneer when it opened at planning to lay off its 66 employees Last year,Mr.Del Rosso invest- Renovation plans declined to comment. 9-11 Ninth Ave. 15 years ago, may by Jan. 1, according to a notice filed ed $300,000 to renovate the eatery Meanwhile, Pastis’ troubles ap- In April, Mr. McNally told food be closing its doors for good in Jan- with the state Department of Labor. and an additional $700,000 to set- pear to be real estate-related. Late critic Gael Greene that Pastis uary. The eatery, known as a New tle debts it collected under Mr. last year, real estate development would shut down for just nine York culinary institution whose ‘Bargaining chips’ Ruggeri, who had built an interna- company Aurora Capital Associates months in 2014, reopening in Sep- owner,Keith McNally,also operates “We cannot stay in business any- tional empire of Bice restaurants. purchased an interest in 9-11 Ninth tember after a renovation adds three Balthazar and Schiller’s Liquor Bar, more with such high labor costs,” Many of them have closed in the Ave. and has been working with floors to the famed eatery. Ⅲ

TO PLACE A CLASSIFIED AD CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES NOTICE OF QUALIFICATION of Notice of formation of DerivePlay LLC. Notice of formation of Urban Island NOTICE OF QUALIFICATION of Notice of Qualification of Tanger Harlev Associates LLC. Application Articles of Organization filed with the Games LLC. Articles of Organization MIDAEZ LLC. App for Authority filed Manager, LLC. Authority filed with for Authority filed with the Secretary Secretary of State of NY (SSNY) on filed with the Secretary of State of NY with Secy of State of NY (SSNY) on NY Dept. of State on 8/19/13. Office of State of New York on August 23, 05/31/13. Office location: New York (SSNY) on 05/28/13. Office location: 12/5/12. Office location: NY County. location: NY County. LLC formed in 2013. Office location: New York County. SSNY has been designated New York County. SSNY has been LLC formed in FL on 8/15/12. SSNY DE on 8/15/13. NY Sec. of State County. LLC formed in Virginia on as agent upon whom process designated as agent upon whom designated agent upon whom process designated agent of LLC upon whom June 8, 2013. New York Secretary of against it may be served. The Post process against it may be served. may be served and shall mail copy process against it may be served State has been designated as an Office address to which the SSNY The Post Office address to which the of process against LLC to: KIM and shall mail process to: c/o CT agent upon whom process against it shall mail a copy of any process SSNY shall mail a copy of any MARKS - 2136 NE 123rd STREET, Corporation System, 111 8th Ave., may be served. The Post Office against the LLC served upon him/her process against the LLC served NORTH MIAMI, FL 33181. Cert of NY, NY 10011, regd. agent upon address to which the Secretary of is: Christopher G. Reid Esq., 116 upon him/her is: Christopher G. Reid LLC filed with Secy of State of FL whom process may be served. DE State shall mail a copy of any process Third Pl. #3, Brooklyn, NY 11231. Esq., 116 Third Pl. #3, Brooklyn, NY located: FL DEPT. OF STATE, DIVI address of LLC: 1209 Orange St., against the LLC served upon him/her The principal business address of the 11231. The principal business OF CORPS, 2661 EXECUTIVE CTR Wilmington, DE 19801. Cert. of is: 40 East 78th Street, Unit 5E, New LLC is: 69 Bennett Ave, Apt 404 New address of the LLC is: 690 Fort CIR, TALLAHASSEE, FL 32301. Form. filed with DE Sec. of State, York, NY 10028. The principal business York, NY 10033. Duration: Perpetual. Washington Ave, Apt 6K, New York, Purpose: any lawful act. 401 Federal St., Dover, DE 19901. address of the LLC is: 40 East 78th Purpose: any lawful act or activity. NY 10040. Duration: Perpetual. Purpose: all lawful purposes. NOTICE OF QUALIFICATION OF ATCO Street, New York, NY. Certificate of Purpose: any lawful act or activity. NOTICE OF QUALIFICATION of CITY CENTER SPONSOR EQUITY THE CLASSICAL MUSICIANS’ LLC filed with the Secretary of State PRODUCT RANCH LLC. Authority FUND, L.P. Authority filed with Secy REHEARSAL SYMPHONY of Virginia located at: 1300 E. Main Notice of formation of Limited Liability filed with Secy of State of NY (SSNY) of State of NY (SSNY) on 7/12/13. ORCHESTRA, LLC, a domestic LLC, Street, Richmond, VA 23219. Company (“LLC”). Name: Soundview on 07/16/13. Office location: NY Office location: NY County. LP formed Arts. of Org. filed with the SSNY on Purpose: any lawful act or activity. Senior Housing Developers LLC. County. LLC formed in NJ on 01/11/09. Articles of Organization filed with the in DE on 5/30/13. SSNY designated 7/30/13. Office location: New York Nederlander Worldwide Theatre SSNY designated agent upon whom Secretary of State of the State of New as an agent upon whom process may County. SSNY is designated as agent Management, LLC. Arts. of Org. filed process may be served and shall York (“SSNY”) on 8/12/13. N.Y. office be served and shall mail copy of upon whom process against the LLC with Secy. of State of NY (SSNY) on mail copy of process against LLC to: location: New York County. The SSNY process against LP to: The Corp. Trust may be served. SSNY shall mail 08/21/13. Off. loc.: NY Co. SSNY 65 E 3RD ST, APT F4, NY, NY 10003. has been designated as agent of the Co. 1209 Orange St., Wilmington, DE process to: Arlene Stock, 531 Main St., designated as agent of LLC upon Principal business address: 65 E 3RD LLC upon whom process against it may 19801. Cert of LP filed with Secy of #1603, Roosevelt Island, NY 10044. whom process may be served. SSNY ST, APT F4, NEW YORK, NY 10003. be served. The SSNY shall mail a State of DE located: Division of General Purposes. NJ address: 19 MOURNING DOVE shall mail process to c/o Robinson copy of any process to LLC, c\o CPC Corporations, P.O. Box 898, Dover, DE NOTICE OF FORMATION OF Provably CT, HACKETTSTOWN, NJ 07840. Brog, et al., 875 3rd Ave, 9th Fl., New Resources, Inc., 28 East 28th Street, 19903. Purpose: any lawful act. Correct LLC. Arts of Org filed with Cert. of LLC filed with Secy of State of York, NY 10022. Purpose: General. 9th Floor, New York, NY 10016. Name/ Secy of State of NY (SSNY) on NJ: NEW JERSEY DEPT. OF STATE, Notice of Formation of Interiors by NOTICE OF FORMATION of Tahoe address of each member available from 5/7/13. Office location: NY County. 225 W. STATE ST., TRENTON, NJ Elissa, LLC. Arts. of Org. filed with East Holdings LLC. Art. of Org. filed SSNY. Purpose: any lawful activity. SSNY designated as agent upon 08625. Purpose: any lawful act. Secy. of State of NY (SSNY) on w/Secy. of State of NY (SSNY) on NOTICE OF FORMATION OF AMBRIZ 7/25/13. Office location: NY County. whom process may be served and 6/13/2013. Office location: New Notice of Formation of Princeton AESTHETIC DESIGN LLC. Arts of Org SSNY designated as agent of LLC shall mail copy of process against York County. SSNY designated as Greene LLC, Art. of Org. filed Sec’y filed with Secy of State of NY (SSNY) upon whom process against it may LLC to principal business address: agent for service of process. SSNY of State (SSNY) 11/30/12. Office on 9/11/13. Office location: NY County. be served. SSNY shall mail process c/o Savant Financial Technologies shall mail process to: 49 Wolf Hill location: NY County. SSNY designated SSNY designated agent upon whom to: National Corporate Research, Inc., 1375 Broadway, 3rd Fl, NY, NY Court Cheshire, CT 06410. as agent of LLC upon whom process process may be served and shall Ltd., 10 E. 40th St., 10th Fl., NY, NY 10018. Purpose: any lawful act. against it may be served. SSNY shall Purpose: Any lawful activity. mail copy of process against LLC to 10016, the registered agent upon Notice of Qualification of DAVID mail copy of process to 375 Park NOTICE OF FORMATION OF LIMITED principal business address: 320 W. whom process may be served. YURMAN HOLDINGS LLC. Authority Ave., Ste. 3401, NY, NY 10152. LIABILITY COMPANY. NAME: PIANO I 38TH ST., APT. 2327, NY, NY 10018. Purpose: any lawful activity. filed with Secy. of State of NY (SSNY) Purpose: any lawful activities. LLC. Application for Authority was Purpose: any lawful act. Notice of Formation of OMP JUNIOR on 09/12/13. Office location: NY filed with the Secretary of State of New Notice of Formation of DePaola Notice of Qual. of Maple West 25th NOTE, LLC. Arts. of Org. filed with County. LLC formed in Delaware (DE) York (SSNY) on 08/14/13. The LLC Valdes, L.L.P. Arts of Org filed with Owner, LLC, Auth. filed Sec’y of Secy. of State of NY (SSNY) on on 02/17/12. SSNY designated as was originally filed with the Secretary the Secy of State of NY (SSNY) on State (SSNY) 7/3/13. Office loc.: NY 09/23/13. Office location: NY agent of LLC upon whom process of State of Delaware on 02/08/13. 6/18/13. Office location: NY County. County. LLC org. in DE 7/3/13. SSNY County. Princ. office of LLC: 60 against it may be served. SSNY shall Office location: New York County. SSNY SSNY designated as agent upon desig. as agent of LLC upon whom Columbus Circle, NY, NY 10023. mail process to c/o Corporation has been designated as agent of the whom the process may be served process against it may be served. SSNY designated as agent of LLC Service Co., 80 State St., Albany, NY LLC upon whom process against it and shall mail copy of process SSNY shall mail copy of proc. to NRAI, upon whom process against it may 12207-2543. DE addr. of LLC: 2711 may be served. SSNY shall mail a copy against LLP to: DePaola Valdes, 111 8th Ave., NY, NY 10011, the Reg. be served. SSNY shall mail process Centerville Rd., Ste. 400, Wilmington, DE of process to the LLC, 45 East 65th L.L.P. c/o The Partnership 7014 13th Agt. upon whom proc. may be served. to Corporation Service Co., 80 State 19808. Arts. of Org. filed with Secy. Street, New York, New York 10065. Ave. Ste 202, Brooklyn, NY 11228. DE off. addr.: 160 Greentree Dr., Ste. St., Albany, NY 12207-2543. of State, 401 Federal St., Dover, DE Purpose: For any lawful purpose. Principal business address: 370 101, Dover, DE 19904. Cert. of Form. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity. Lexington Ave, Ste 509, NY NY Notice of Qualification of Babson on file: SSDE, Townsend Bldg., Dover, Notice of Qualification of Delos NOTICE OF AUTHORIZATION OF 10017. Purpose: any lawful act. Capital Finance LLC. Authority filed DE 19901. Purp.: any lawful activities. Investment Fund, LP. Authority filed FOREIGN LLC. Name: Iguana with NY Dept. of State on 9/12/13. Notice of Qualification of Hayden Notice of formation of Limited Liability with NY Dept. of State on 9/25/13. Healthcare Management, LLC. Date Office location: NY County. Princ. Asset V, LLC. App. for Auth. filed with Company (“LLC”). Name: JEM Office location: NY County. LP formed of formation: 7/10/09. Date Authorized: bus. addr.: 1500 Main St., Ste. 2800, Secy. of State of NY (SSNY) on 9/3/13. Holdings, LLC. Articles of Organization in DE on 8/27/13. NY Sec. of State 7/25/13. Jurisdiction of Organization: Springfield, MA 01115. LLC formed Office location: NY County. LLC filed with the Secretary of State of designated agent of LP upon whom Delaware. Principal Office: 551 5th in DE on 12/12/12. NY Sec. of State formed in Delaware (DE) on 9/18/12. the State of New York (“SSNY”) on process against it may be served and Ave., Ste. 1120, NY, NY 10176. SSNY designated agent of LLC upon whom SSNY designated as agent of LLC 9/5/13. N.Y. office location: New shall mail process to: c/o Akin Gump desig. agent of LLC upon whom process against it may be served upon whom process against it may be York County. The SSNY has been Strauss Hauer & Feld LLP, One Bryant process may be served. SSNY shall and shall mail process to: c/o CT served. SSNY shall mail process to: designated as agent of the LLC Park, NY, NY 10036. DE address of mail copy of process to: 551 5th Ave., Corporation System, 111 8th Ave., NY, Capitol Services, Inc., 1218 Central upon whom process against it may LP: c/o The Corporation Trust Co., Ste. 1120, NY, NY 10176. Registered NY 10011, regd. agent upon whom Ave., Ste. 100, Albany, NY 12205. DE be served. The SSNY shall mail a 1209 Orange St., Wilmington, DE Agent: Corporation Trust Co., 1209 process may be served. DE addr. of address of LLC: 1675 South State copy of any process to LLC, 472 19801. Name/address of genl. ptr. Orange St., Wilmington, DE 19801. LLC: 1209 Orange St., Wilmington, DE St., Ste. B, Dover, DE 19901. Arts. of Broome Street, Number 3, New York, available from NY Sec. of State. Cert. Officer in jurisdiction of formation 19801. Cert. of Form. filed with DE Sec. Org. filed with DE Secy. of State, 401 NY 10013. Name/address of each of LP filed with DE Sec. of State, where arts of org are filed: Delaware of State, 401 Federal St., Dover, DE Federal St., Ste. 4, Dover, DE 19901. member available from SSNY. Townsend Bldg., Dover, DE 19901. Sec. of State, 401 Federal St., Dover, DE 19901. Purpose: all lawful purposes. Purpose: any lawful act or activity. Purpose: any lawful activity. Purpose: all lawful purposes. 19901. Purpose: Any lawful purpose.

October 7, 2013 | Crain’s New York Business | 45 Union paid fake consulting firm

Continued from Page 6 has levied stiff penalties in an effort the socially conservative coalition primary campaign consultant for to level the playing field for candi- was also odd because the consulting several council candidates support- dates enrolled in the city’s taxpayer- firm touts itself as one of the most ed by the NYCLASS spending. funded campaign system. City progressive in the nation. Its That included Brooklyn’s Laurie Council candidates seeking public founder and president, Scott Cumbo and Manhattan’s Mark Levine, matching funds cannot spend more Levenson, has worked in the past for who won their primaries. than $168,000. If, in a required former Public Advocate Mark Green While Ms. Cumbo, Mr. Levine post-election audit, the CFB finds and former liberal advocacy group and losing Manhattan borough coordinated spending between a ACORN. president candidate Robert Jackson campaign and an outside group,that Crain’s also reported recently that were paying the Advance Group, spending is counted against the cap, the Advance Group’s work on behalf their campaigns also got outside help which can result in heavy repayment of City Action Coalition-backed from the teachers’ union’s spending penalties and fines. candidates conflicted with its work through mailers designed, printed It’s not clear why the Advance for two of its own council clients. and sent out by Strategic Consul- Group would have wanted to have And the outside work for the teach- tants. The union’s super PAC paid been listed as being paid through ers’ union raises another potential the apparently fictitious firm more Strategic Consultants instead of conflict: The Advance Group not than $12,000 for mailers promoting collecting checks in its own name. only produced mailers promoting Mr. Jackson, more than $18,000 to One political insider briefed on the Manhattan council candidate Yetta promote Ms. Cumbo, and nearly arrangement speculated that it was Kurland for the NYCLASS inde- $3,000 in support of Mr. Levine. to avoid scrutiny over the “coordina- pendent expenditure, but Strategic As in the case of the NYCLASS tion” issues from the CFB. Consultants produced mailers tout- spending,that raises issues of poten- In their work on behalf of anoth- ing her opponent, Corey Johnson, that tially illicit coordination, because er outside organization called the were paid for by the teachers’ union. the Advance Group was the con- City Action Coalition, the Advance Mr. Johnson won the primary. sultant for both the teachers’ union’s Group and Strategic Consultants The Advance Group also was the Photo Credit: Buck Ennis political action committee and both took in payments. In late Au- consulting firm for New York City Is Not those campaigns. gust, the Advance Group received For Sale,an outside organization that Potential coordination between $36,558.20 from the organization. helped sink the mayoral candidacy candidates and outside groups is In early September, Strategic Con- of Christine Quinn.The group collect- subject to investigation by the Cam- sultants got the exact same amount. ed campaign contributions that far paign Finance Board,an agency that The Advance Group’s work for exceeded state limits. Ⅲ Taking sides in casino debate

Rebuilding NY: neutralized by noncompete agree- BY CHRIS BRAGG ments struck earlier this year, and casinos from nearby states don’t seem One Year Later With a month to go before New particularly concerned. One logical York voters decide whether to legal- opponent, Foxwoods in Connecti- Join Crain’s in a discussion with the region’s key ize up to seven full-scale casinos cut, is eyeing a New York casino. statewide, a once-quiet battle has fi- Last week, Brooklyn attorney political and business leaders about the progress nally been joined. It pits deep- Eric Snyder stepped into the breach. that’s been made—and the daunting challenges pocketed businesses against a lawyer He filed a lawsuit to stop the state that lie ahead. who has taken the fight to the courts. from holding the Nov. 5 vote. Mr. Business and labor interests (in- Snyder,who says he is working inde- cluding hotel-worker unions) have pendently of any interests, has taken lined up with Gov. Andrew Cuomo up the cause of good-government KEYNOTE PRESENTATION: DATE: to push the amendment, which groups and other opponents, such as Monday, October 28, 2013 would initially situate four casinos in the socially conservative New York- newscom HOWARD GLASER HE’S GOT GAME: Gov. Andrew Cuomo is Director of State Operations LOCATION: upstate New York, a key part of the ers for Constitutional Freedoms.He Sheraton New York Times Square working with business and labor interests to Senior Policy Advisor to the Governor 811 Seventh Avenue governor’s plan to create jobs there. argues that the amendment’s rosy get the gambling amendment passed. (at 53rd St.) Three more could be built after seven language is unlawfully biased. years, and casino insiders are betting A recent Siena poll found that TIME: PANEL DISCUSSION: 8:00am - 8:30am: that one will be in New York City. support for the amendment was far neutral-sounding language pro- Rebuilding NY: Lessons and Challenges Networking Breakfast A coalition spearheaded by the higher when voters were read that posed by the state attorney general’s One Year After Sandy 8:30am - 10:30am: Business Council of New York State language, which says the measure is office was changed by the state Program has launched a political action com- for the “purposes of promoting job Board of Elections after consulta- mittee called New York Jobs Now growth, increasing aid to schools, tion with Mr. Cuomo’s office. COST TO ATTEND: that can spend unlimited funds to and permitting local governments A hearing will be held Oct. 11 in PANELISTS: $150 for individual ticket(s) Ⅲ $1,500 for table(s) of 10 promote the initiative. A poll con- to lower property taxes.” More Albany. F

HOWARD GLICKBERG: Vice Chairman, ducted by the group showed that Fairway Group Holdings Corp. EVENT JOURNAL OPPORTUNITY: 51% of voters support the amend- $2,250 for one table of ten CORRECTIONS F

CASWELL HOLLOWAY: Deputy Mayor and one full page 4-color ad in the ment as written,while 35% oppose it. for Operations, City of New York event program. Jeffrey Gural, owner of Vernon The Fast 50 profile on Cantor Commercial Real Estate (p. 18) misstated the number of years for which Crain’s calculated revenue growth. CCRE had two-year revenue growth of 1,816%. F

DENISE RICHARDSON: Managing Director, Downs racino in central New York For more information: Michele Fine was the first female financial representative to become top earner at Guardian Life The General Contractors Association of Alexis Sinclair and Tioga Downs in the Southern New York, Inc. Insurance Co. Michael Ferik is the company’s senior vice president and head of individual life. Their (212) 210-0739 Tier, has separately created super names were misspelled in the Sept. 30 Corporate Ladder. [email protected] PACs to spend money in support of F

JUDITH RODIN, PhD: President, Roberta Pereira worked with a producer, not as a producer, on the Broadway shows Annie and War The Rockefeller Foundation For sponsorship information: the measure. He hopes for a full- Horse. Her position was misstated in the Sept. 30 “The Great Write Way.” In addition, Ruby Preston Lauren Black WILLIAM C. RUDIN: Vice Chairman & CEO, scale casino at Tioga Downs. And wrote ShowBiz for Dress Circle Publishing. The book title was misstated in the story. F

(212) 210-0736 Nevele Investors,a group that wants Rudin Management Company [email protected] Jim Greisch is national industry director for insurance at the McGladrey accounting firm. The name of to build a full-scale casino in Ulster the firm was misstated in the Sept. 30 “Bringing reinsurance into the spotlight.” County, is putting at least $100,000 The Flatiron/23rd Street Partnership Business Improvement District equipped the ilili kiosk near REGISTER TODAY: crainsnewyork.com/events-rebuildingnyevent toward passage of the amendment. Madison Square Park with electricity. The name of the organization was misstated in the Sept. 16 Some proponents have even “More food for Flatiron.” Silver Sponsors: floated the notion of spending up to Donald Ciaramella, president of the Lippin Group, is 58. His age was misstated in the Sept. 16 $20 million in support of the meas- Executive Moves. ure,but that may not be necessary be- New York City freelancers typically earn more than those in other cities. That fact was misstated in the www.dryconcrete.com cause little resistance has emerged. Sept. 9 “Hired guns in hot demand.” Opposition from Native American Carlos Ferreira was promoted at Grant Thornton. His name was misspelled in the Sept. 9 Executive gambling interests has largely been Moves.

46 | Crain’s New York Business | October 7, 2013 possible that an entity with a $70 businesses; and with the presidents Whole Lhota cutting billion budget, with 300,000 em- of the city’s universities, to get their ployees, hasn’t had a restructuring?” “competitive juices” flowing. The candidate would hike city Throughout the interview, Mr. Continued from Page 3 mercial rent tax, and offer more tax education spending to lengthen the Lhota dived into the minutiae of city going to do about this?’ The mayor incentives to developers and emerg- school day and year and dramatically government, displaying the knowl- gets blamed for everything. The ing sectors like biotechnology and expand teacher training, as well as edge he gained from years as a top mayor is a job that is not theoretical, manufacturing to better market the adding pre-kindergarten. He’d dou- deputy under Mr. Giuliani. But in a it’s practical.” city as a destination for startups. ble the charter-schools count, while troubling sign for Mr. Lhota, polls Mayor Michael Bloomberg touts “I’ve lived in New York all my Mr.de Blasio has said he’d keep a cur- show that Mr. de Blasio is the pre- his streamlining of city government, life,” he said.“I’ve only seen compa- rent cap on charters that’s controlled ferred candidate of voters whose fa- but Mr. Lhota said the city’s labor nies leave New York.” by the state Legislature. vorite mayor is Mr. Giuliani. force has grown since 2001. “Head He didn’t address, however, how Mr. Lhota said that if elected, he Mr. Lhota acknowledged that count is up; it’s not down,” he said. he’d make up for the loss in revenue would convene three meetings on pitching himself as a superior man- “It’s up by almost 9,000.” A from those eliminated taxes. His the first day of his administration: ager might get him hired in the pri- Bloomberg spokesman said it is ac- general philosophy is that a more with city employee unions to open vate sector, but it is unlikely to be tually down by 14,500 since the end streamlined government would off- negotiations on their expired labor enough to win the Nov. 5 election. of the Giuliani administration. set any tax cuts. “Every private- contracts; with the heads of all the “It doesn’t work at all,” he said. newscom Mr. Lhota said approximately sector company goes through re- banks headquartered in New York, “Leadership is what works. [Em- BETTER MANAGEMENT would allow for lower 40% of the municipal workforce, or structurings,” he said. “How is it to persuade them to lend more to phasizing] management doesn’t.” Ⅲ taxes, says mayoral hopeful Joseph Lhota. about 120,000 of the current total of 300,000 city workers, will leave over the next four years, based on attri- tion projections. And for every two city workers who leave, Mr. Lhota said, he’d see if just one would suf- fice to replace them.That would re- duce head count by about 60,000. “If we can do it without impair- ing service delivery, by using tech- nology,” he said, “that would be a great goal to have.”He would not re- duce the police force, he noted. A tale of two philosophies Mr. Lhota dismissed Mr. de Bla- sio’s “tale of two cities” campaign rhetoric as “class warfare,” but ac- knowledged that too many New Yorkers are struggling financially. His response, though, would differ greatly from that of his opponent: “Government programs are very important for a social safety net.But left to their own devices, these gov- ernment programs do nothing to deal with income inequality.” His affordable-housing policy would not require developers to in- clude below-market-rate units in their projects, as Mr. de Blasio has proposed, but would continue Mr. Bloomberg’s policies of tax breaks and incentives for developers to build affordable dwellings. “We’re going to have to induce developers when they build to have a certain portion—20%, 30%—as affordable housing,”Mr.Lhota said. “Because every developer who wants to build in this city, unless they’re going to build as-of-right, they’re going to [want to] come to the city and build a taller building, a wider building ... and the price they’re going to have to pay for it is to create more affordable housing.” To find space for new units, Mr. Lhota would ask the state’s many public authorities to relinquish sur- plus land,such as a Long Island Rail Road tract in Queens. Post offices that the cash-strapped U.S. Postal Service wants to unload could be converted into new and larger buildings,he said,noting that he has already identified 20 to 30 possible locations. “As mayor, I want them,” he said. While Mr.de Blasio talks of rais- ing taxes on the city’s wealthy to pay for universal pre-K, Mr. Lhota said he’d cut or eliminate some taxes on businesses, specifically the general corporate tax, which he said penal- izes tech startups that have no tax- able income and motivates some to launch in Hoboken. He’d also re- duce the hotel occupancy tax to 5% from 5.875%, phase out the com-

October 7, 2013 | Crain’s New York Business | 47 in the process of acquiring more air rights, including Joe Chetrit, who Hudson Yards area heating up earlier this year purchased mid- town’s Sony Building for $1.1 bil- Continued from Page 3 the next month or two right smack 1.7 million-square-foot, 57-story lion. He is said by sources to be A new video series that visits with how the No. 7 train would make it in the Hudson Yards.” commercial tower. adding up to 200,000 square feet to New York’s most interesting and convenient, they would look at you In January, Related plans to The Related Cos., already in the a hotel development site he owns insightful real estate players. like you were crazy,” said Jared process of developing the 26-acre, break ground on a roughly $750 between West 37th and 38th streets. Della Valle, an executive at Alloy $15 billion Hudson Yards complex, million platform over the western Mr. Chetrit, who declined to com- Development, which owns a com- has been the most voracious buyer of half of the Hudson rail yards to cre- ment, could add some of that extra mercial development site west of adjacent sites in a doubling down of ate the foundation for the millions space by buying air rights from the 10th Avenue between West 35th its holdings in the area.The compa- of square feet of office, retail and city in a purchase that would likely  and 36th streets. “They couldn’t see ny has entered into a contract to ac- public space it is planning to build. push the total rights sold this year to it. Now that has changed.” quire a parcel between West 35th “If there were no No. 7 subway, its highest level since 2008, before With the long-talked-about and 36th streets—for $75 million or I’m not sure we would be starting the recession took hold. transit link almost ready, the area’s more—that will border a new David Marx, another developer DANIEL GEIGER interviews the real estate interests are betting vast “Hudson Boulevard” being con- in the neighborhood, said he will industry’s best sources. sums that more tenants will follow structed by the city to run between One site just buy air rights from the city to in- in the footsteps of the major compa- 10th and 11th avenues. crease the size of a hotel he plans to nies that have already booked huge Related has approached Alloy sold for more build on the northeast corner of blocks of space, including Coach, Development to acquire its site,too, West 34th Street and 10th Avenue.  Time Warner and L’Oréal. Indeed, in a bid to substantially boost the than three times “We were waiting for the No. 7 as Crain’s first reported last week, size of that parcel, though it’s un- train and also the Javits Center,” Mr. Citigroup is considering relocating clear whether Alloy will decide to its 2011 price Marx said, referring to a $400 mil- its global corporate headquarters sell. Most of Related’s acquisitions lion renovation of the convention fa- THIS WEEK: How the Hudson Yards from Park Avenue to Hudson Yards. have been for locations closest to the cility that will be finished next year. megaproject is stoking local sales. In response to those bullish sig- new subway link. “It’s all coming to fruition now.” nals from tenants, developers are Prices for land have dramatically snapping up major development Here come the tenants the platform then,” Mr. Cross said. appreciated because of the invest- sites at a prodigious pace, making “We anticipate that as much as “But knowing that it is going to be ment activity. In September, former  the area the most active in the city 70% of tenants will be coming to the there means we have to get going Los Angeles Dodgers owner Frank this year for such deals, according to area via the No. 7,” said Jay Cross, an and that we will also have enough McCourt and other investors pur- real estate experts. The 7 train’s executive at Related who is president tenant interest for the space there.” chased a 750,000-square-foot de- looming arrival has only hastened of the Hudson Yards venture.“As the According to data from the De- velopment parcel on West 31st JEFF KATZ’S SHERWOOD EQUITIES that frenzy. Bob Knakal, chairman subway comes closer to completion, partment of City Planning, the sale Street for $167 million, more than has owned in the area since 1992. of sales brokerage Massey Knakal, tenants have been more willing to of city-owned air rights has also three times what previous owner said small fortunes are being creat- take space in the Hudson Yards.” picked up this year—another sign Sherwood Equities paid just two WATCH “The View on Real Estate” at CrainsNewYork ed,as the activity has pushed up land Related is also in talks, sources that developers are planning to get years ago. .com/video prices by double or more. say, to purchase the site of a shovels in the ground in anticipation “A lot of the development sites McDonald’s on the corner of West of the subway. More than 70,000 ‘Ridiculous’ prices that only a short time ago were con- 33rd Street and 10th Avenue,allow- square feet of air rights (created “It’s high—it’s ridiculous,” mar- tral business districts in Manhattan sidered speculative are now tangi- ing it to amass another jumbo par- eight years ago by the city to raise veled Jeff Katz, chief executive of … It has to happen.” ble,” Mr. Knakal said. “You’ll see a cel.That property sits east of anoth- money to pay for the subway exten- Sherwood,which owns the full block Several owners said it is more lot more happen in the neighbor- er lot that Related bought for an sion and other neighborhood im- between West 35th and 36th streets than the subway that’s drawing buy- hood coming up. There are at least undisclosed price from developer provements) have been sold so far on 10th Avenue, a development site ers and tenants to the far West Side. four very significant sites that I Gary Barnett during the summer. this year, the most since 2010. that rivals Related’s biggest Hudson In addition to the renovated Javits know of that will be in play within The land there can accommodate a Several buyers are believed to be Yards parcels. “There was a double Center, the new street, Hudson hammering in this neighborhood— Boulevard, is set to be completed it was both on the periphery of the next year. The third and final leg of city and the recession also hit—and the High Line, which will snake it knocked prices way down. Now around the rail yards,is also slated to both of those factors have changed.” open in 2014. For Sherwood, the rewards have “It’s the train, but it’s also the been especially sweet.The company parks,”said Ann Weisbrod,president began investing in the far West Side of the city’s Hudson Yards Develop- JOIN THE NEW YORK in 1992, when values there were a ment Corp. She’s widely credited fraction of what they are now. After with overseeing the No. 7 extension’s BUSINESS COMMUNITY TO investing early in Times Square,and on-time and on-budget delivery. EXPLORE HOW TO FORM A profiting from that area’s transfor- “The High Line and Hudson CONSENSUS FOR THE mation in little more than a decade, Boulevard connect into one another, POST-BLOOMBERG ERA. Mr. Katz saw some of the same po- creating this beautiful green neck- tential in the rail yards. lace up the West Side,” Ms. Weis- “There are some parallels be- brod explained.“People will take the CONFIRMED SPEAKERS: tween Times Square and the Hud- train to get here, but it’s amenities son Yards,” Mr. Katz said. “A large like these that will give them the rea- ›J EFF BEWEKES ›S TEVE MALANGA , Chairman & CEO, Time Warner Inc. , Manhattan Institute Senior Fellow, piece of land,adjacent to prime cen- son to come in the first place.” Ⅲ ›T HELMA GOLDEN, Director and Chief Curator, City Journal Senior Editor Studio Museum ›C HARLES E. PHILLIPS, JR., Chief Executive Officer, Infor ›C AROL KELLERMAN, President, Citizens Budget ›M ARY ANN TIGHE, CEO, New York Tri-State Region, Commission CBRE, Inc. CITI LOOKING FOR NEW HOME ›A NDREW KIMBALL, Director of Innovation Economy Additional speakers to be confirmed. Initiatives, Jamestown For event information, visit our web site. A SLIMMED-DOWN CITIGROUP has settled on three locations for a possible new DATE: Wednesday, November 20, 2013 global headquarters: the World Trade Center site, an existing twin-building LOCATION: Sheraton New York Times Square REGISTER TODAY: complex it occupies in TriBeCa, and the Hudson Yards on the far West Side. TIME: 8:00 a.m. – 1:30 p.m. crainsnewyork.com/events-future2013 The banking giant has shrunk its local workforce almost 20% since 2005, COST TO ATTEND: to about 22,000 employees, and is consolidating its sprawling New York City $299 for individual tickets(s). / $2,999 for table(s) of 10. / Early bird pricing ends October 14, 2013. real estate portfolio. Already, Citi has shed a longtime office at 666 Fifth Ave. and shrunk its footprint at 601 Lexington Ave., the slant-roofed tower that was EVENT JOURNAL OPPORTUNITY: once named after the bank and was home to thousands of employees. $4,500 for a table of 10 and a full page ad in the event journal. A deal would likely mean moving from 399 Park Ave., its longtime You must be pre-registered to attend this event. No refunds permitted. global headquarters site. That lease is set to expire in 2017. A move to the 2 million-square-foot 2 World Trade Center tower, developed by Silverstein Properties, would complete the build-out of the WTC site. But CO-HOSTED BY: PRESENTING SPONSOR: CITY SUPPORTERS: the Related Cos. is also trying to persuade Citi to take a tower or multiple properties at its $15 billion site over the far West Side rail yards. Citi, whose broker is CBRE Group, could also move to 388 and 390 Greenwich St., a 2.5 million-plus-square-foot, twin-building complex it sold to SL Green Realty Corp. in 2007 for nearly $1.6 billion. That deal would include renovation and packing the properties with more staff. —DANIEL GEIGER

48 | Crain’s New York Business | October 7, 2013 HELLUVA TOWN INSIDE Source Breakfast Morning Joe Campbell Brown vs. the goes by the book teachers’ union PAGE 50 The National Book Awards in Out and About recent years has been working to raise its profile and increase books’ Butterflies at Natural cultural impact. Now it’s taking History Museum PAGE 51 another step toward extending its reach. The National Book Foundation, which administers the prizes, will announce Monday that the 2013 awards ceremony and benefit dinner will be hosted by MSNBC morning-show anchors Mika Brzezinski and Joe Scarborough. On Oct. 16, the Morning Joe co-hosts will also announce on the air the five finalists in each of the four award categories—a feature that was inaugurated last year and which more than doubled traffic to the foundation’s website that day, albeit to a still-modest 22,000 visitors. While it’s no Oprah, Morning Joe regularly covers books, and last month started a nonfiction book club. The hosts, said foundation Chairman and Perseus Books Group CEO David Steinberger,fit right in with what the National FAST LANE: Despite Book Awards is doing: “If you growing up in a car- want to reach the broader culture, resistant family, they are the perfect vehicle.” Stephanie London, 22, The changes have been actually likes to drive. inspired partly by the publishing community’s admiration for Britain’s Man Booker Prize— which is celebrated enough for London’s bookies to set odds on the winner—and partly from a feeling that the awards needed to do more to get noticed. This year, the foundation introduced a Booker-like “long list” of 10 nominees for each category, and expanded the pool of judges beyond authors to include critics, booksellers and journalists. Other changes over the years have included moving the awards dinner from its longtime home at the Marriott Marquis to the more glamorous Cipriani Wall Street, where the ceremony will be held Nov. 20. Recent hosts have also been figures with a following, such as Andy Borowitz and John Lithgow, but none who are as regularly in the public eye as Ms. Brzezinski and Mr. Scarborough. The awards almost always bring a sales boost: Louise Erdrich’s The Round House doubled its Hard drive hardcover sales last year in the weeks after it won, according to Nielsen BookScan. The goal now Getting behind the wheel? Fuhgeddaboutit! is to get finalists and long-list titles to benefit, too. “We’d like to see more of a lift,” Many New Yorkers would rather steer clear Mr. Steinberger buck ennis said. “We’re CAR OWNERSHIP IN confident BY MATTHEW FLAMM we’re going THE FIVE BOROUGHS to.” n the day this summer that my daughter took home her first car, I Brooklyn —matthew households flamm interrupted that rite of passage to take the keys from the saleswoman and 44% tell her I’d be handling the test drive. And later, when we set off inside Bronx Allegra’s just-leased compact, my daughter waved goodbye—from the 46% Manhattan passenger seat.¶ The look on the saleswoman’s face was easy to read: 23% Man, does that dad need to let go.¶ But the nice people at the Colorado Queens Springs showroom didn’t understand the implications of being from New 64% York City. Allegra, who moved to Colorado after college, had only gotten Staten her license the previous summer, at the age of 21.That’s no big deal in Manhattan, where just Island 84% 23% of households own a car, but is highly unusual in a country where 70% of 19-year-olds hold U.S. Oa license.¶ More important, and the reason I was doing all the driving: She’d barely been behind households that own at 92% the wheel since she passed her road test.¶ Difficulties with driving have long been a least one car; distinguishing characteristic of the native New Yorker, who is surrounded by the nation’s most 20% own three or more Sources: New York City Economic Development extensive mass-transit system, in a city where it can be more See CAR PHOBIA on Page 50 Corp., U.S. Census MSNBC

LISTEN to a discussion at CrainsNewYork.com/podcasts October 7, 2013 | Crain’s New York Business | 49 SOURCE BREAKFAST: New Yorkers’ car phobia CAMPBELL BROWN by Andrew J. Hawkins Continued from Page 49 aren’t many sidewalks here, and the road test can only do so much work than it’s worth to own a car. people can be fussy about you walk- for some dyed-in-the-wool New I know a lot about this subject. ing on their lawns,” he said. “I’ve Yorkers,especially when they come Growing up in northern Manhat- braved some hairy intersections, if to driving late. tan, I didn’t get my license until my you can call them that.” “I still don’t know how to merge Ex-journalist takes on 30s, after failing the road test … But it’s not just that many New on a highway,” confessed Ellyn well, more than once. Yorkers don’t feel a need to drive. Plato, 54, a born-and-bred Upper And I know how hard it can be Often,they possess none of the love West Sider who got her license 15 teacher misconduct for New Yorkers to fit in elsewhere. for cars that used to be a given years ago when she and her family I’ve tried to jaywalk in Southern among young Americans. moved to Westchester.“Until I met California,walk to a shopping mall “I feel I should have [a license] my husband, I don’t think I’d been in Minnesota and get around St. just because it’s something that peo- in a car for an extended period uring her 15 years as a they’re making a lot of money. Louis on its light-rail system, ple have,” said University of Chica- without a meter going.” broadcast journalist, which at one stop required passen- go sophomore Jacob Rosenberg,19. Campbell Brown took Shouldn’t teachers be allowed to defend gers to hike along a highway to go He plans to take the road test Generational aspect on powerful politi- themselves against false accusations? from the station to the nearby mall. Driving into the city from her cians and groups while I totally understand a kid who gets a But while New York may warp a home in Hastings poses no prob- Dmoving up the ladder from a local af- bad grade on a test and makes a crazy person’s transportation sense, Not having a lem for Ms. Plato because she can filiate in Topeka, Kan., to reporting accusation against a teacher.That stuff transplanted Gothamites can ad- make the entire trip in the right on the 2008 presidential race for happens.But if you look at the process, just. ( Just ask either of my daugh- license ‘was lane.“But driving back, you have to NBC, to hosting her own show on there are a lot of measures to prevent ters, both of whom will now hop in be in the middle lane” coming off CNN. This past June, Ms. Brown that from happening. The special in- the car to get a cup of coffee.) They part of my the Henry Hudson Bridge, she started the Parents’ Transparency vestigator comes in and does a pretty just have to accept that relocating said. “So I avoid driving in.” Project to shine a light on what she thorough investigation. Only when beyond the five boroughs will in- New Yorkness’ Ms. Plato was raised by Upper says is an epidemic of sexual miscon- [the investigator] has substantiated volve entering a strange new world, West Siders who also had an uneasy duct in NYC’s public school system. those charges will it go in for arbitra- one full of threats and obstacles relationship with cars. Which tion. The Department of Education that seem commonplace to most demonstrates another problem Why did you start this organization? has unsuccessfully attempted to fire Americans. some New Yorkers face: Resistance It was about a year and a half ago, and teachers 128 times over the last seven “I’ve been getting a ride to and again—he went through a stop sign to driving can be handed down the tabloids were going crazy with years, related to sexual misconduct. from work from my future father- on his first try—when he’s back through generations. stories about teacher sex abuse and At the end of the day, you have to in-law,” said Christopher Hundley, home in Morningside Heights “My sister didn’t learn until she kids.The Daily News had done a huge put the power in the hands of the 31, who recently moved to York, during winter break.But his idea of was 23,and my dad didn’t learn un- feature about teachers who engaged chancellor.The buck stops with him. Pa.,to live with his fiancée and start a cool ride does not involve flying til he was 33, and he still pretty in sexual misconduct with kids and a new job in nearby Harrisburg. “I down Highway 1 with the top much will not drive a car, so [grow- then gotten a suspension or fine. And How much of this is a result of the toxic had this ridiculously optimistic idea down on a convertible. ing up] there was really only one it had example after example after ex- relationship between Mayor Michael how fast I would get [a license].” “It’s just nice to walk around the driver in my family: my mom,” said ample. I thought, this can’t Bloomberg and the teachers’ city and get on a train with a bunch Stephanie London, 22, who hails be true.It was such an egre- WHERE union? Unique challenges of random people,” he said. from Greenwich Village. gious thing. So I did all the I think it’s less about The communications executive, In his lack of enthusiasm for the Unlike many New York kids, research and got my own THEY Bloomberg and more about who grew up in Brooklyn, used to automobile, Mr. Rosenberg is like however, she was raised in a family example of teachers and DINED a realization that the unions commute by ferry and subway to many other millennials around the that had a car. Not that it made tracked down some of the EDWARD’S might be having that they his job at the MetroTech Center country, who are driving less than much difference. parents of some of these 136 West don’t have as much power as from his home in St. George, Stat- their elders and getting licenses at “We used it once a month to see kids that had been victim- Broadway they used to. The UFT is a (212) 233-6436 en Island. He took some driving lower rates than in the past. some relative somewhere, and that ized. Talked to them— edwardsnyc.com paper tiger in my view. Just lessons but never felt any urgency Reasons for the decline include the was pretty much it,” she said. that’ll kill you. Your heart look at their reaction to AMBIENCE: about getting a license. costs and inconvenience of owning Ms. London spent her first breaks for what they’re go- Casual what I’ve done. Who am I? Now he’s doing the paperwork a car—factors that are especially summer out of college getting her ing through. And the de- neighborhood I’m someone who used to for a Pennsylvania learner’s permit pronounced within the five license, which she thought would gree that they feel the sys- eatery with a have a TV show three years and preparing for two unique chal- boroughs. be good to have if she found a job tem has failed them. And I dash of TriBeCa ago. I’m basically a down- lenges posed by his new,alien envi- New Yorkers also face obstacles outside the city.To her surprise,she talked to a lot of teachers chic town mom. And I poke ronment: driving on highways (his just acquiring a license. Public passed the test on the first try. who were embarrassed that WHAT THEY ATE: them a little bit, and they Egg-white previous lessons were all on back- schools typically do not offer dri- She also really likes driving. But the union was taking the omelet, tea explode? That’s crazy. streets in Dumbo) and on rural ver’s ed—the Department of Edu- she may not get much practice any- position it was. Fresh Balthazar roads at night. cation could not say what the poli- more,since she ended up working in The chancellor should granola with You certainly have a platform. “It’s incredibly dark out there,” cy was—so teenagers have to pay Manhattan as a medical scribe, and, have the power to fire yogurt and fruit, I have enough of a plat- said the lifelong New Yorker. for lessons or get a later start than given her inexperience, no one “is these people … with due coffee form that makes me want “There’s moonlight if you’re lucky, their suburban peers. too excited to let me drive their car.” process, so the teacher can TOTAL: $32, to do this to give people and your headlights, and that’s And then there’s the issue of What’s more, she misses being appeal. For every other including tip who don’t have a platform really it.” passing the road test. In 2012, the able to say she doesn’t have a license. public employee,that’s the a voice. And I don’t have In the meantime, Mr. Hundley failure rate was 54% for the city’s “It was part of my New York- case. Teachers are the only ones that much—I ain’t the mayor. Look is finding it difficult to engage in more than 180,000 test-takers, ac- ness,” she said. where the arbitrator has the final say. at [the union’s] track record.The last one of New Yorkers’favorite modes cording to the Daily News. That New Yorkness doesn’t time they elected a mayor was 1989. of transportation: walking. “There But driving lessons and passing get lost all at once. About two That is in their contract? Ask Alan Hevesi,or Freddy Ferrer or months after I left Allegra in The union negotiated it in their con- Mark Green or Bill Thompson how Colorado Springs, she called one tract.The chancellor should have the much influence the UFT has. They Sunday morning, clearly dis- power to fire in cases like this.I’ve yet do have power because they have U.S. YOUTHS HIT THE BRAKES tressed. My wife took the call. to hear an argument for why not. money. But what they don’t have are “What do you mean you can’t They won’t even acknowledge there’s ideas. NEW YORKERS ARE NO LONGER THE ONLY ONES who prefer not to drive. The find the fender?” she asked finally, a problem, which is insane. percentage of 19-year-olds with a driver’s license nationwide fell to 69.5% and then added some moments lat- Will a new administration ignore you? in 2010 from 76% in 2008 and 87% in 1983, according to a study released er:“Well,go back to the parking lot The arbitrator is chosen by both the city I’m an eternal optimist and a happy last year by the University of Michigan Transportation Research Institute. and look for it.” and the union. Most of them are retired warrior, so I go forth believing we’ll A 2011 University of Michigan study found the rate of people with Sure enough, the missing piece judges. How is it the union’s fault when accomplish everything we want. If I driver’s licenses dropping for all age groups under 40. Some of the of fender was lying right where it the arbitrators make the decisions? didn’t think that way, I’d get too de- decline can be traced to economics: In a recent survey, the researchers had fallen—unbeknownst to Alle- These retired judges start getting pressed to get out of the bed in the found that the main reasons for young people putting off getting a license gra—after getting hooked on the paid $1,400 a day for an arbitration morning. That said, that’s why I were simply not having enough time to obtain one and not wanting to spend truck parked in front of her. And case. They go on a long time, and formed this organization. the money on owning and maintaining a car. the same weekend, in a different The Internet also plays a role: Many young people would prefer to city, her twin sister, Gaby—who’d watch Netflix at home than drive to a movie theater. Or as Michael Sivak, had her license for all of a month— INSIDE TIP: The last Monday of every month an author of the studies, told WNYC: “Some young people feel that driving had her first fender bender, too. interferes with texting.” Some rites of passage never is Cincinnati night, featuring chili, ribs and —MATTHEW FLAMM change, no matter where you’re ice cream from the Ohio city. from.

50 | Crain’s New York Business | October 7, 2013 OUT AND SNAPS Crain’s celebrates 50 Most Powerful Women ABOUT by Ali Elkin and Theresa Agovino

CAREER BUILDER TUESDAY, OCTOBER 8 Backup My Info! will present its product to techies at the BUSINESS CONTINUITY & DISASTER RECOVERY PANEL FOR IT PROFESSIONALS. As an added attraction, a beer tasting will be held. The event is at Stout, 133 W. 33rd St., and will go from 5:30 p.m. to 8:30 p.m. It is free, carol rosegg but open only to IT CULTURE FIX professionals and company MONDAY, OCTOBER 7, leaders. Registration is available THROUGH SUNDAY, DECEMBER 1 at www.bumibrewhaha For the objectivist who likes long monologues, .eventbrite.com. Honorees CHRISTINE QUINN and MARY ANN TIGHE at List veteran EMILY RAFFERTY and list newcomer DEBORAH WINSHEL at the the Baryshnikov Arts Center presents a stage Crain’s 50 Most Powerful Women luncheon on Oct. 1. event, which was held at Gotham Hall. adaptation of Ayn Rand’s ANTHEM. The play tells FRIDAY, OCTOBER 11 the story of a man who discovers electricity and Sandler Training will host a love in a dystopic future that has banned workshop called BUSINESS individuality.The play is at the Jerome Robbins DEVELOPMENT: BREAK THE Theater, 450 W. 37th St. Tickets are available RULES AND CLOSE MORE SALES online at www.anthemtheplay.com and cost at New York City Office between $50 and $89. Suites, 733 Third Ave., 15th floor. The event, which goes SATURDAY, OCTOBER 12, AND SUNDAY, OCTOBER 13 from 9 a.m. to 11 a.m., will OPEN HOUSE NEW YORK is an opportunity to discuss how entrepreneurs and explore some of the city’s oldest, most interesting professionals who find and most architecturally significant structures, themselves being “accidental including private homes.The free festival includes salespeople” can perform both talks and tours, some of which require roles and generate new preregistration. Check the website, www.ohny.org, customers. Registration is for more information and a schedule of events. available at www.sandler.com. DON’T MISS TROPICAL BUTTERFLIES

SATURDAY, OCTOBER 12, buck ennis THROUGH MONDAY, MAY 26, 2014 JANE ROSENTHAL, KATHRYN WYLDE and DEANNA MULLIGAN were among Honorees LINDA ADDISON, MERRYL TISCH and JUDITH RODIN As the weather turns colder, the the 50 women featured in the Crain’s list. have been on the Powerful Women list in previous years. American Museum of Natural History becomes New York’s closest tropical getaway. THE BUTTERFLY See more of this week’s Snaps online at CrainsNewYork.com/galleries. CONSERVATORY: TROPICAL BUTTERFLIES ALIVE IN WINTER is back this year, with bright-blue morphos and giant owl butterflies. The museum is on Central Park West at 79th Street. It is open every day. Admission is $22 for adults and $12.50 for children. For more information, visit www.amnh.org.

FUNDRAISERS TUESDAY, OCTOBER 8 The Brain Injury Association of New York State will host THE SIXTH ANNUAL JOURNEY OF HOPE GALA at Slate, 54 W. 21st St. The event, which runs from 6:30 p.m. to 10:30 p.m., will include cocktails, live entertainment and a silent auction. The organization provides education, advocacy and support to improve OPENING the quality of life for those who have sustained SUNDAY, OCTOBER 13 brain injuries. Tickets start at MoMA PS1 will present a MIKE $300 and are available at www.bianys.org/ KELLEY retrospective, which runs gala-ticket-purchase. through Feb. 2, 2014. The exhibit contains more than 200 works WEDNESDAY, OCTOBER 9 and will occupy the entire The Lunchbox Fund will host FALL FÊTE 2013 museum. Kelley, who died last from 7 p.m. to 11 p.m. The organization year, worked in a variety of media. provides food for orphaned and poor children The museum is located at 22-25 in South Africa. The event will be at Jackson Ave. in Long Island City, Buddakan, 75 Ninth Ave. It begins at 7 p.m. Queens, and is open from noon to for VIP ticket holders and an hour later for 6 p.m. It is closed on Tuesdays other attendees. The organization will launch and Wednesdays. Admission is its app, Feedie, at the event. Tickets cost $250; $10 for adults. For information, VIP tickets are $1,000. They are available at visit www.momaps1.org. www.boomset.com/apps/eventpage/2538.

MARK YOUR CALENDAR… SUNDAY, OCTOBER 20 THE NEW YORK CITY WINE AND FOOD FESTIVAL will host its first- ever OKTOBERFEST. Andrew Zimmern, host of Bizarre Foods, will host the event, which will feature German specialties and plenty of beer. The event is at the Green at Studio Square NYC, 35-33 36th St. in Long Island City, Queens. Tickets cost $95 and are available at www.nycwff.org/oktoberfest.

October 7, 2013 | Crain’s New York Business | 51 NEW YORK FOOD. NOT AIRPLANE FOOD.

Why do expectations for food get lower the higher you go? As far as we’re concerned, they shouldn’t. That’s why we’re bringing meals by Danny Meyer’s Union Square Hospitality Group to select New York fl ights, Shake Shack and Blue Smoke On The Road to JFK’s new Terminal 4, and renowned burgers by Pat LaFrieda to LGA. It’s all part of our effort to provide the best local food options in the air and on the ground. So the next time you decide to go out for dinner, consider that you can go up instead.

DE LTA.COM