Nofooling: Sick Days in Effect April 1

PLAYING THE NUMBERS Math Museum ® multiplies and NEW YORK BUSINESS prospers PAGE 45 VOL. XXX, NO. 13 WWW.CRAINSNEWYORK.COM MARCH 31-APRIL 6, 2014 PRICE: $3.00 No fooling: Sick days in effect April 1 All employers must give time off; smallest fear they won’t have the cash to compete

BY ANDREW J. HAWKINS

The city’s expanded paid-sick-leave law goes into effect Tuesday,allowing more than a half-million additional workers to take five paid days off a year but causing a new round of government- induced headaches for small businesses struggling to stay afloat. Take Upper East Side coffee-bar owner Albert Wu, who employs seven people but takes no salary himself. Sometimes,he says,he wakes up in the morning wondering why he even bothers. “Most days, you feel like you’re so busy making sure your espresso shots See SICK DAYS on Page 42 They visit NY, but stay in NJ READ ALL ABOUT THEM! Hotels try luring CLASS OF 2014 Chinese tourists, city’s 40 UNDER 40 fastest-growing market

Pete Cashmore, BY LISA FICKENSCHER Lauren Bush Lauren, China has become the city’s fastest- Savneet Singh growing market for overseas tourists, with the number of visitors from the and 37 more country jumping 19% in the past year Pages 13-36 alone, outpacing even the globe- hopping Brazilians. Hotels in the five boroughs,however,are not reaping the rewards, because the price-sensitive travelers are heading to New Jersey, where room rates are significantly cheaper. 13 Currently, China is New York’s 5 fourth-largest market for overseas visitors—rising from 13th in 2009. An estimated 646,000 Chinese tourists arrived here last year.What’s more,the world’s most populous nation could NEWSPAPER See CHINESE on Page 44 71486 01068 0 EDITOR’S NOTE

Class of ’14 FYICRAINSNEWYORK.COM

A memorandum dated Nov. 17, 1995, crossed my desk in February. Fed finds Citibank falls An old-time stamp showed it had been sent via fax(!) by Consolidated short in many areas Edison Inc.’s public information ast Wednesday was a terrible, office, and its author was horrible, no good, very bad day at nominating a young utility executive Citigroup.That’s when the bank for Crain’s New York Business’ annual Glenn Coleman L learned it had flunked its Federal Reserve 40 Under 40 feature: John McAvoy, stress test for the second time in three 35, plant manager for the Indian years, wiping out its plans to reward Point 2 nuclear-power plant in suburban Westchester shareholders with a higher dividend and County.The precocious Mr. McAvoy had graduated more stock buybacks. ¶ Even worse for from Manhattan College at age 19 with a bachelor’s Chief Executive Michael Corbat (right)— degree in engineering, the memo reported, and the who took the helm in 2012, not long after bloomberg nuke he oversaw produced almost one-fifth of the his predecessor failed a similar test—the electricity used by Con Ed’s millions of customers at Fed said it had told Citi to fix certain deficiencies in its capital-planning procedures but the the time. It’s hard to tell from the notes scribbled in bank had failed to do so. Oh, regulators also said that they harbored concerns about the “overall the margins why the editors at Crain’s back then reliability” of Citi’s plans. ¶ In effect, the bank’s most important regulator was saying it doesn’t hadn’t chosen this young man, who seemed to be have confidence in Citi’s management. We’ll soon find out if shareholders feel the same way. Citi’s going places. (I’m guessing it’s because he didn’t work annual meeting April 22 in St. Louis just got a lot more interesting. —aaron elstein in the five boroughs of New York City, one of the cardinal rules of our annual 40 Under 40 search these many years.) Naturally, I showed a copy of the memo SURPLUS WORRIES. A report by the backed housing finance giants Fannie Independent Budget Office predicts Mae and Freddie Mac,agreeing to pay HOORAY! to Mr. McAvoy, now 53, when he visited our office that the city will end 2014 with a $2 $6.3 billion. The sales were made by last month as the newly elevated chief executive of billion surplus, about $244 million Countrywide Financial and Merrill Con Ed. He laughed. I shrugged. Hey, it’s not like any more than anticipated,with a $1.2 bil- Lynch,which BofA acquired in the fi- editor in the long history of Crain’s has ever claimed lion surplus likely in 2015. Some ob- nancial crisis. … CHRISTIE’S HAPPY servers expect the city’s unions—most VERDICT. A $1 million report by New we always get it right. Nonetheless, I’ll argue here, it’s of which work under expired con- Jersey Gov. Chris Christie’s lawyers impressive how often Crain’s has gotten it right with tracts—to be emboldened to boost concluded that he had no involvement our 40 Under 40 picks over the decades, from a 36- their wage demands. in Bridgegate. The RISING ENTREPRENEURSHIP is helping MORE IS LESS. end the long drop in NYC manufacturing year-old executive vice president at American Express … ‘I continue to massive traffic jams jobs, says a Center for an Urban Future Despite 14,700 jobs on the George Wash- study. Co. named Kenneth Chenault (Class of 1988) and a added in February,the be much more ington Bridge last 26-year-old vice president at Perry Ellis Co. named city’s unemployment concerned, September were or- OY VEY! Marc Jacobs (Class of 1989) to a 24-year-old writer- rate squeaked up to chestrated by mere 7.9% from 7.8% the NEW YORK STATE has the most director named Lena Dunham (Class of 2011) and a when it comes underlings, they said. segregated public schools in the nation, month before—its Several independent reports UCLA’s Civil Rights Project. 38-year-old online-photo-library founder named Jon first monthly increase to our security, investigations are on- Oringer (Class of 2013), whose stake in publicly since May 2012. The with the going. … RISING traded Shutterstock Inc. is worth more than $1 rise in jobs was driven SONS. Rupert Mur- by a surge in prospect of a doch’s two sons will billion. OK, enough with the not-so-humble tech-sector and get senior jobs at the bragging.Turn to Page 13 to meet our Class of 2014. professional-services nuclear Australia-born media hiring, but it was out- weapon going mogul’s entertain-

weighed by growth in ment and publishing istock THIS WEEK IN CRAIN’S the labor force. ... WTC off in outlets. Lachlan, who SECURITY NETS TWO: Manhattan had left the fold to faces life in prison. … BERNIE’S LITTLE Two CNN producers strike out on his own, HELPERS. Five of Bernard Madoff ’s IN THE BOROUGHS------3 were arrested for try- [than with will join his dad as a former employees were convicted of IN THE MARKETS------4 ing to sneak into 1 co-chairman of 21st aiding his $17.5 billion Ponzi scheme. World Trade Center Russia’s Century Fox and Prosecutors unveiled hundreds of ex- SMALL BUSINESS ------5 in broad daylight. aggressions]’ News Corp. Sibling hibits illustrating their involvement THE INSIDER ------6 That successful stop, —President Barack Obama James will rise to co- and won convictions on all 31 counts. however, came just a chief operating offi- The five will remain free on bail until REAL ESTATE DEALS ------7 day after four men were arrested for cer at 21st Century Fox. … BIN sentencing in July. … PAPER AND OPINION ------10 parachuting off the spire’s top in the LADEN’S SON-IN-LAW FACES LIFE. A PLASTIC. The City Council intro- dark and less than a week after a New federal jury in Manhattan found Su- duced a bill that calls for a 10-cent fee ALAIR TOWNSEND ------11 Jersey teenager made it all the way up laiman Abu Ghaith, a son-in-law of on all plastic and paper shopping bags GREG DAVID------11 in the dead of night. … BANK SETTLE- Osama bin Laden, guilty of conspir- in an effort to curb the number of them MENT. Bank of America settled law- ing to kill Americans in his role as the going into landfills. The move could 40 UNDER 40 ------13 GOTHAM GIGS suits stemming from the sale of soured terror group’s spokesman. He will be save the city $10 million a year. CLASSIFIEDS ------38 mortgage securities to federally sentenced on Sept. 8 and potentially —emily laermer Pick a card:Toffer Grant NEW YORK, NEW YORK ------helps companies keep tabs on 45 the corporate tab. P. 8 SOURCE LUNCH------46 STORIES TO WATCH THIS WEEK vol.xxx,no.13,march 31,2014—Crain’s New York Business(ISSN 8756-789x) is published weekly,except for double issues the weeks of June 23, July 7, July 21, Aug. 4, Aug. 18 and Dec. 22, by Crain Communications Inc.,685Third Ave.,New York,NY 10017.Periodicals postage paid at New York, N.Y., and additional mailing offices. Postmaster: Send address changes to: March 31: New April 1: Paid-sick- April 2: Alicia April 2: Trade Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, York State Gaming leave law goes into Glen discusses Brooklyn, the MI 48207-2912. for subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 one Commission begins effect for most economic policy at borough’s largest year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2014 by Crain Communications Inc. All rights reserved. seeking proposals employers. Association for a B-to-B trade show for upstate casinos. Better New York.

2 | Crain’s New York Business | March 31, 2014 IN THE BOROUGHS BRONX High rents have locals packing up Gentrification starts to hit Highbridge, Grand Concourse

BY JOE ANUTA

Lucia Davis grew up in the Grand Concourse section of the Bronx and has lived there happily for nearly 35 years. But as she walked through Franz Sigel Park with her 4-year-old daughter on a recent afternoon, she confessed that her own children may SEA OF GREEN: have to grow up elsewhere. Because Viraj Puri’s Gotham Greens is the fastest- of rising rents, she and her husband growing hydroponic are considering exiting the city. greenhouse company “You’d think you could afford to in the city. live in the Bronx,” she said.“But the prices are going up, and a lot of people are moving out.” Welcome to the Highbridge and Grand Concourse neighborhoods buck ennis COLOR OF MONEY in the South Bronx, where income growth in recent years has been asserts that it has the only commer- ment to a new level by growing pro- among the highest in the city, but in First harvest at Whole Foods rooftop farm cial rooftop greenhouse in the entire duce year-round like competitors in the process has begun to push up raises locavore movement to new level country. It is also the fastest- California, where New York gets a some of the city’s lowest average growing greenhouse company in big chunk of its produce. Local rents.As a result,something else has Gotham Greens, which owns and the city using hydroponics instead farmers are quick to point out that a risen as well: homelessness. BY LISA FICKENSCHER operates a 20,000-square-foot of soil to grow crops. It harvested its typical shipment from the West is In those two neighborhoods, av- greenhouse.It is the only grocer that first tomatoes, lettuces, basil, bok already a week old by the time it hits erage income climbed nearly 15% The Whole Foods in Gowanus, gets produce delivered by elevator choy and kale a couple of weeks ago. store shelves in New York. between 2005 and 2010, buoyed by Brooklyn, can boast that it has the just hours after being picked. All are pesticide-free, though not While urban farming now refers a tide of people fleeing across the freshest leafy greens and tomatoes Gotham Greens is not only run- certified organic. to any number of farming activities Harlem River from gentrifying ar- available in any supermarket in the ning the first greenhouse on top of a The Brooklyn-based urban at dozens of hotels, restaurants, res- eas in upper Manhattan in search of city—thanks to its rooftop tenant, supermarket, but the company also farmer is taking the locavore move- See GREENHOUSES on Page 44 See RESIDENTS on Page 12 Bill to run Tesla off road is STATS AND THE CITY by Nicholas Wells POLITICAL PLAYERS: The NY Public Interest Research Group released a list amended, sparing automaker of 170 contributors who donated $50,000 or more to state politicians in 2013. These mega-donors gave $28.2M, roughly half the total amount.

ANNUAL MAXIMUM that can be donated by a limited- car enthusiast—and legislators, en- this model that’s more than 100 liability corporation Dealers had sought suring its passage.New York’s Fran- years old,” said Lawrence White, a $150K to stop car company chised Motor Vehicle Dealer Act professor of economics at New York NUMBER OF LLCS used by real estate developer Leonard Litwin, will be strengthened to prevent University’s Stern School of Busi- 21 No. 2 on NYPIRG’s list behind hedge-fund manager James Simons, from selling directly Tesla and other carmakers from ness. “It would be like saying now to funnel more than $1 million to NY consumers opening direct-to-consumer retail that you must buy a book at a brick- and-mortar store and not online. ANNUAL AMOUNT that LLCs could donate under Gov. Consumers would recoil.” $1K Andrew Cuomo’s proposed campaign-finance reforms BY THORNTON MCENERY ‘It’s like saying Proponents of the franchise PORTION of the mega-donors’ model assert that dealerships are in- 19% contributions that went to Mr. For a company that makes silent you must buy a tegral to enforcing consumer- Cuomo’s 2014 re-election campaign cars,Tesla Motors is causing quite a protection laws peculiar to each ruckus. book at a store state. Dealers even tend to frame PORTION of the mega-donors’ The Palo Alto, Calif.-based their role as one little guy looking out 44%largest donations that went to electric-car manufacturer built a and not online’ for another, and cast the franchise housekeeping funds—party war chests that direct-to-consumer sales model in model’s longevity as a validation. have no limit on donations New York that darted around a state “It’s a system that’s been in place PERCENTAGE of contributions, law protecting dealerships.Car deal- for over 100 years to protect con- 24%totaling $6.8 million, that came ers ran to state lawmakers for help,as sumers,” said Mark Schienberg, from the 31 unions on the list, matching New they had successfully done in Ari- stores, but Tesla can keep the five it president of the Greater New York York state’s unionization rate zona,Maryland,Virginia,Texas and, already has in New York state. Automobile Dealers Association. Sources: NYPIRG, Crain’s research, NYS Board of Elections, most recently, New Jersey. Tesla’s sales strategy had threat- “Car dealers are entrepreneurs will- 2014-15 NYS Executive Budget, U.S. Department of Labor On Friday,the two sides reached ened a franchise system that some ing to take a financial risk on a busi- istockphoto a compromise that was blessed by see as outdated. ness that sells a proven product.” ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY Gov. Andrew Cuomo—a muscle- “The auto industry is stuck in See TESLA on Page 42

March 31, 2014 | Crain’s New York Business | 3 IN THE De Blasio taps Google, other MARKETS techies to help roll out pre-K by Aaron Elstein

After funding battle The mayor also wants to see if a egy at Control Group,which helped partnership with tech early in the with the launch of the Citi Bike pro- comes the hard part: game can help avoid the delays,mis- gram and which will lead the work- putting it all in place fires and confusion that often plague shop. Once the participants have the rollouts of ambitious govern- identified areas where tech compa- ment programs. nies can offer solutions, others may BY MATTHEW FLAMM “The general approach in gov- be brought in. ernment is to say, ‘This is what we “We’ll be using our networks to Bill de Blasio has spent a good need; who can provide it?’ ” said Jeff identify other potential partners in chunk of his mayoralty fighting Merritt, a senior aide to the mayor the technology ecosystem in New over how to pay for universal pre- who is spearheading the Tech for York City,” added Mr. Richardson, K. With money now earmarked in Universal Pre-K initiative. “What who spent five years in communica- the state budget, the administra- we’re doing here is trying an early en- tions and tech-related jobs in the tion is moving on to the arguably gagement model—bringing firms Bloomberg administration. more difficult task of putting the together and saying,‘Help us under- program in place. stand the scope of possibilities.’ ” Test for new mayor To that end, it’s taking the extra Representatives for city agencies Messrs. Richardson and Merritt step of bringing New York technol- and executives from the tech com- are interested in seeing if the initia- ogy firms into the implementation panies said it was too early to predict tive can become a model that city process. Representatives from com- what kind of programs might result agencies use for rollouts of other istock photo panies that include Google,the con- from the session, which will be held programs. sulting firm Control Group and at the Made in NY Media Center in But right now,much is riding on digital design and marketing agency Dumbo, Brooklyn. But a number of universal pre-K,and not just for the Bank deposit gains Huge will sit down next week for an those from the industry side are well thousands of children who will all-day workshop with staffers from versed in government—and the have their first chance to attend an the Department of Education and help that government sometimes all-day program. A successful roll- are child’s play other city agencies. They’ll try to needs to get its messages out. out could help reverse the slide in come up with ways to ensure a They include Andrew Essex,vice Mr. de Blasio’s poll numbers, and smooth rollout of the mayor’s signa- chairman of Droga5, the marketing show that a liberal politician can f you’ve got at least $100 million in net worth, the folks ture program,in which some 55,000 agency that recently helped the get things done. 4-year-olds will descend on class- White House try to persuade more “Progressive mayors in New York at Wells Fargo would like to put on a show for you and rooms across the five boroughs. young people to sign up for health City have not been particularly suc- your heirs.To lend color to otherwise drab family insurance. Huge also has experience cessful,” pointed out Jeanne Zaino, I financial meetings, Wells Fargo employs a former New Avoiding Obamacare glitches connecting government with the a professor in the applied-politics Among other things, the de Bla- public: Last year it redesigned the program at NYU’s School of Con- York elementary-school history teacher who helps prepare sio administration wants to be sure city’s website, nyc.gov. tinuing and Professional Studies. skits featuring younger family members telling the story of that pre-K enrollment looks noth- “The idea is to create a collabo- “As left-leaning as the city may be,it how their forebears struck it rich. ing like the disastrous launch of rative framework,” said Robert can be difficult for left-leaning may- Ⅲ “Kids will play their ancestors and tell the story of how their Obamacare. Richardson, senior director of strat- ors to govern.” family migrated its way to wealth,” said Arne Boudewyn, head of family dynamics and education at Wells Fargo’s Abbot Downing division. “It helps us get to know the client better.” Evidently, these modest pro- banks remain quite unpopular in ductions are getting good recep- certain quarters,they are drawing in tion. Thanks in part to more more customer cash than ever.“The wealthy customers parking their truth is most people don’t care what millions at the bank, Wells Fargo size their bank is,so long as it’s con- saw its deposit base grow by 8% last venient to use,”said Gary Stern,a for- year. That was higher than the na- mer president of the Federal Reserve tional average for big banks and a Bank of Minneapolis. sharp contrast with small banks, The big banks’ ability to seize which as a group saw deposits deposit share from their smaller drained out of their vaults last year, competitors is a powerful trend—if according to the Federal Deposit In- it holds up. Deposit-gathering has surance Corp. More deposits meant become much more important to Wells Fargo had more money to all banks in recent years because lend and helped it increase earnings new regulations have curtailed the by 60% last year, to nearly $22 bil- fees they can charge customers for lion, the most of any bank. such things as overdrafts or debit- Wells Fargo’s theatrical produc- card use. Those fees helped banks tions may be unique, but its strong cover branch operating costs and deposit growth is not, at least other expenses. among the too-big-to-fail banks. Some comfort for small banks is Bank of America, Citigroup and JPMor- that their profit margins are higher. gan Chase also increased their de- Drexel Hamilton analyst David posit bases last year at the expense Hilder said BofA, Citi, Chase and of community banks. JPMorgan, Wells Fargo could capture as much for instance,boosted deposits by 8% as half the profits generated by the even as it grappled with regulatory nation’s nearly 7,000 banks. Last difficulties and paid billions in liti- year, the big four had 42%. gation costs. “We’re starting to see the power The numbers demonstrate that of these franchises, and it is formi- even though the nation’s biggest dable,” Mr. Hilder said. Ⅲ

GAIN IN THE STOCK MARKET’S strongest sector so far this year: utilities. Investors have 7.8% lost their taste for speculative technology shares lately and instead favor stocks in slow-growing companies that pay steady dividends.

4 | Crain’s New York Business | March 31, 2014 SMALL BUSINESS Brooklyn’s cachet buoys B2B event Trade Brooklyn professional attendance at trade in Port Washington, L.I. “It’s the ernment and private-sector con- shows was up 5.8% year-over-year small retailers that have learned now tracts. Other seminars cover topics expects 50% increase in the fourth quarter of 2013, the to focus locally,” he said. “And local ranging from technology integra- biggest gain since the third quarter is worth its weight in gold.” tion to the Affordable Care Act. in exhibitors, 67% of 2007. Local trade shows are pop- Mr. Levin has also planned an ular, experts say, because they offer Crash course hour of networking at the pre-show rise in attendees an opportunity to deepen relation- To make sure attendees find breakfast and a speed-networking ships in the community. Trade Brooklyn valuable, Mr. Levin event later.But,as the Borowick sis- BY EILENE ZIMMERMAN “We’ve all heard that global is the has increased the number of hour- ters realize, sometimes you’ve got to future of growth and the big boys are long seminars to 15 this year, from let the merchandise speak for it- buck ennis ager to sell more focusing on global,” said Marshal eight in 2013.The event will include self—which they plan to do at their MARKETING TWIST: Lauren and Ali Borowick of their chocolate- Cohen, chief industry analyst at a panel for minority- and women- table.“We’ll be sampling pretzels,of hope to tempt corporate customers at the covered gourmet pret- market-research firm NPD Group owned businesses on winning gov- course,” she said. Ⅲ Trade Brooklyn show. zels as corporate gifts, sisters Ali and Lauren EBorowick decided to rent a booth for their company, Fatty Sundays, at Trade Brooklyn, a business-to- business trade show scheduled for Wednesday, April 2. They’ve got a clear goal in mind for marketing the tasty treats: “We are looking to establish relationships with a minimum of 15 new companies that we can begin 44% working with on SHARE of New We are not interested in rainbow chasers, wannabes, corporate gift- York City businesses that ing and events, expect to boost ‘fraidy cats, coneheads, airheads, talking heads, especially as the revenue in 2014 holiday season Source: TD Bank survey approaches,” social climbers, rock climbers, rock stars, name said Ali. The team from Fatty Sundays droppers, ball droppers, ball dodgers, meanies, will have plenty of company at the show.With Brooklyn’s startup scene thriving and many local businesses weenies, preeners, big talkers, small talkers, bad focused on growth in 2014, Trade Brooklyn, now in its fifth year, is ex- mouthers, mouseketeers, boys, bad boys, gals, pals, panding, too. Jonathan Levin, president of event producer Cardinal schmos, schmoes, joe shmoes, or average joes. Trade Group, expects to see about 150 exhibitors,an increase from 100 last year, and about 2,500 attendees, up from about 1,500. Selling local The show will take place at its largest venue in four years—the New York Marriott in downtown Brooklyn, bringing together national and regional companies such as Verizon Wireless, Citibank and Office Solutions,which have a presence in Brooklyn, and many small businesses from the five boroughs, said Mr. Levin. About 20% percent of those attending come from outside the region, he said. We are interested in you. Certainly, participating in trade shows like this can be a substantial investment for a small company,and there’s no guaranteed return on it. The Borowick sisters—who founded their South Williamsburg-based business in May 2012 and now both work there full-time with a handful of part-timers—plunked down $895 for an exhibit table under an early-bird special.Regular exhibitor prices this year are $1,295 for six feet of space, and $1,395 for eight feet. But after staying away from trade shows during the recession, many owners are returning in a push to win business-to-business sales. The Center for Exhibition Industry Re- search, based in Dallas, found that

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March 31, 2014 | Crain’s New York Business | 5 FLATIRON / UNION SQUARE THE FLAGSHIP 8,000 SF+ 3,800 SF MEZZ INSIDER by Chris Bragg

915 Broadway, New York, NY - Southwest Corner of 21st Street & Broadway

Floor Area Frontage ap images Ground: 8,000 sf* 55 feet on Broadway Mezzanine: 3,800 sf 95 feet on 21st Street *(Reasonable Divisions Considered) Paid-leave bills advance in Albany Comments n the heels of paid-sick-leave becoming law in New r 50,346,490 subway riders in 2012 over twice the amount of Soho 1 2 York City, another government-mandated employee r 24% More foot traffic than Fifth Avenue benefit has gained momentum in Albany: paid time r Soaring 19 ft ceilings and double height glass storefront O r Close proximity to major subways off for workers with a newborn or seriously ill relative. The Assembly passed a bill in early March providing up Contact Exclusive Broker: to 12 weeks of paid family leave, and the state Senate Mark Tergesen* John Brod* included funding for its own version in a mid-March budget 212.400.9521 212.400.9528 [email protected] resolution. Gov. Andrew Cuomo was said to be reluctant to 915 BROADWAY [email protected] 1) Source: mta.info. 2) Findings from a study completed by BFJ Planning on Saturday October 26th, 2013 & Wednesday include it in the budget, which is expected to be approved by October 30th, 2013. Research was obtained from sources considered reliable but no representation is made by ABS Partners Real Estate LLC or any of its affiliates as to their completeness or accuracy. *Licensed RE Associate Broker, 915BWAY.COM All information is from sources deemed reliable but is subject to errors or omissions of any magnitude, withdrawal from April 1, but the Senate’s action was a milestone for market, or changes in terms, all without notice. Brokers employment and payment only by written agreement. advocates who have been pushing paid family leave for a decade, paving the way for the Legislature to pass a measure before its session ends in late June.

The Assembly plan would is limited to employees with a year fund paid leave through employee or more on the job and businesses payroll deductions of 45 cents a with at least 50 workers. That week in its first year. The Senate leaves 40% of the workforce ineli- version calls for much smaller gible, according to advocates. payroll deductions and $125 mil- The Assembly plan would in- lion from the Legislature’s gener- crease employer payments into the al fund in its first year. It offers six state’s Temporary Disability Insur- weeks of leave and applies only to ance program, which aids New businesses with 25 or more Yorkers with non-work-related employees. disabilities. Currently, employees Under the Senate plan, paid in the program—such as new family leave would be available for mothers—receive a $170 weekly biological mothers and fathers, disability benefit, a figure un- same-sex parents,adoptive parents changed for 25 years. and foster parents at 50% of their The Senate bill would similarly average weekly wage by 2018.The raise disability payments to what issue is a top priority for the Inde- the Business Council estimates pendent Democratic Conference, would be $700 a week within three which shares control of the Senate years. But an Independent Demo- with Republicans. cratic Conference spokesman said The Business Council of New employer payments would not go York State is fighting both pro- up, in part because its plan would posals, arguing that employees cover only people on family leave. taking weeks off would burden Advocates for family leave say it businesses, especially small ones. has been shown to reduce employ- Heather Briccetti (above), the ee turnover. Some in the business group’s president, has urged law- community support the Senate makers to make any leave plan plan.“I think it strikes a really good parallel to existing federal legisla- balance between the needs of em- tion—advice that Albany did not ployees and the rightful concerns heed. Her group also argues that of business owners wondering how the funding burden could eventu- they’re going to pay for all this,” ally be shifted to employers. said Ted Potrikus, executive vice “There’s a lot of skepticism in the president of the Retail Council of business community,” said Ken New York State. “As we’ve looked Pokalsky, the council’s vice presi- at this, we’ve thought this was the dent of government affairs. least invasive way to do it.” Several Federal law provides up to 12 states have adopted some version weeks of unpaid leave,but coverage of the program. QUOTE OF THE WEEK: ‘It was a good run’ —Commissioner John Doherty, upon retiring after 51 years with the city’s Department of Sanitation

6 | Crain’s New York Business | March 31, 2014 REAL ESTATE DEALS BARE BONES years.Instead,the company is taking Facebook likes the addition less than a year after 401 PARK AVE. SOUTH 770 Broadway moving in. Another big media ASKING RENT; Facebook will now occupy all of Social-networking mega-firm 770 Broadway’s seventh and eighth TERM: $70-$90 per square foot; Facebook is adding 60,000 square floors.The landlord, Vornado Real- undisclosed outfit goes south feet to the office it leased at 770 ty Trust, charges rents in the $70s Broadway SQUARE FEET: less than a year ago. per square foot for space in the 15- 21,100 he publisher of venerable magazines Nature and Scientific Ameri- Last May, the company took story property. can is doing what several other media and creative companies have 100,000 square feet in the building,a The building is located directly TENANT; REP: Sizmek; Justin Royce of done in recent months: It is moving to lower Manhattan. nearly 1.2 million-square-foot prop- across from Lafayette Street and 51 Cushman & Wakefield Macmillan Science and Education is taking 176,000 square erty that fills up the entire block run- Astor Place, the new 400,000- LANDLORD; REPS: Himmel + feet at the top of downtown office tower 1 New York Plaza.The 17- ning from East Eighth to East Ninth square-foot office tower that also has Meringoff Properties; in-house representation by Mark Stein and Tyear lease is one of the biggest deals to get done in lower Manhattan this year streets from Broadway to Lafayette attracted several big-name tech ten- Jason Vacker and is the latest example of how publishing and media companies have Street. ants. In recent months, that proper- BACK STORY: The newly formed flocked to the neighborhood, which boasts Class-A office towers with rents The 60,000-square-foot expan- ty has signed a 100,000-square- digital advertising company will take that are frequently well below midtown’s. sion was woven into that initial lease foot-plus lease with IBM for its the entire fifth floor of the building, Several big media firms have already decamped to lower Manhattan.Time as an option that Facebook was ini- Watson artificial-intelligence group. according to The Commercial Inc. is hoping to swim with the tide as well. Recent reports revealed that it is tially expected to exercise after two —daniel geiger Observer. negotiating to move its magazine business to Brookfield Place, the huge office complex across West Street from the World Trade Center. Leon Manoff, a broker at Colliers International, represented Macmil- lan Science and Education in the deal. The new space will allow the company, which is a subsidiary of publishing giant Holtzbrinck Pub- lishing Group, to consolidate three offices it has in Manhattan. “This building, the geography of where it is located and the nearby transit all worked for the tenant,” Mr. Manoff said. “They’re doing it because it made sense forQ them and BE worked for their business.” Macmillan Science and Educa- tion will take part of the building’s 45th floor and all of floors 46 to 48. The asking rent for the space was in the low $50s per square foot,according to Mr. Manoff—significantly Specialized less expensive than space at the top of comparable towers in midtown. The lease is a substantial transaction for Colliers International, which has been pushing to grow its market share in the city. Replace potential liabilities with a sense of —daniel geiger security with QBE—a company whose experience Crown Hts. retail and expertise allow us to say ‘yes’ to highly deal is a stunner Capital One Bank has inked a 10- unique insurance needs. year lease for ground-floor space at an address where the asking rent was $100 per square foot—a reasonable q.BOBHFNFOU1SPGFTTJPOBM-JBCJMJUZ sum by Manhattan standards, per- haps, but a shocking one given that q"DDJEFOU)FBMUI this shopfront is in Brooklyn’s fast- gentrifying Crown Heights. “We’ve been active in that area,and q"WJBUJPO I can tell you it is on fire,”said CPEX’s Timothy King, who along with col- q5SBEF$SFEJU league Ryan Condren represented the landlord, Bluejay Management. He noted that that price would have been unthinkable just a year ago, when, according to a CPEX study, average asking rents along main commercial drag Franklin Av- enue stood between $35 and $49 per square foot. The bank took 3,000 square feet Across all areas, our experienced Specialty Lines team at the base of 341 Eastern Parkway,on provides superior claims handling and has the ability to the corner of Franklin Avenue, in a underwrite multiple coverages and tailor comprehensive newly built residential property. solutions to your risks. So be specialized—and we’ll be Capital One is relocating from a here to make things possible. nearby Washington Avenue location and hopes to open within six months. For information visit QBEspecialized.com Another tenant will eventually take the remaining 4,500 square feet @QBENorthAmerica on the ground floor of the Eastern Parkway property. QBE and the links logo are registered service marks of QBE Insurance Group Limited. Barry Fishbach of RKF repre- © 2014 QBE Holdings, Inc. sented Capital One in the transaction. —joe anuta

March 31, 2014 | Crain’s New York Business | 7 BUSINESS 126 Number of days NY state residents worked in 2013 to pay their total tax bill for the year PEOPLE Source: The Tax Foundation

EXECUTIVE MOVES BOOTS, NOT SUITS: Toffer Grant’s PEX cards have attracted Disney/ABC more than 1,000 customers, Television Group: Ben many of whom are manufacturers Sherwood,50,was and contractors. promoted to president of the television networks. He was previously bloomberg news president of ABC News. MJHS (Metropolitan Jewish Health System): Alexander Balko,63,was promoted to president of the health- services provider. He was previously chief operating officer and chief financial officer. Jonathan Rose Cos.: Michael Daly, 50, joined the real estate investment and development firm as chief operating officer. He was previously president of Forest City Enterprises’ affiliate Mesa del Sol. Carlyle Group: Michael Cavanagh, 48, joined the private-equity firm as co- president. He was previously co-chief executive of corporate and investment banking and a member of the operating committee at JPMorgan Chase. Alliant Employee Benefits: Bob Bennetsen, 40, was promoted to managing director and executive vice president. He was previously senior vice president. DHR International: Nicole Phillips,41, joined the executive-search firm as executive vice president. She was previously a principal in the global retail and buck ennis consumer practice at CTPartners. First Nationwide Title Agency: Douglas GOTHAM GIGS Giles, 43, joined the boutique title agency as vice president. He was formerly assistant vice president at First American Title Agency. Mobile Marketing Association: James Pearson, 46, joined the nonprofit trade association as vice president of Keeping tabs on the tab communications. He was previously executive vice president of communications at BrightLine. Capgemini: Seth Rachlin, 48, joined Toffer Grant gives (prepaid) credit where it’s due the consulting firm as vice president of the insurance practice. He was Professional milestone: when your boss hands the family’s Upper East Side home centered on previously president of information ‘Expenses and analytics at Advisen Ltd. you a credit card and tells you to entertain clients tenants, like restaurants and pharmacies. Mr. First Republic can go on the company tab.Toffer Grant makes sure the Grant would tag along to watch his parents Private Wealth Management: Perry good times don’t roll too hard. ¶ “Expenses can collect the rent, which introduced him to the Brown, 49, joined wild. We go wild when people get the company card,” said challenges small businesses face. ¶ That said, the private bank and wealth help Mr. Grant. “We help manage that.” ¶ Mr. Grant, prepaid cards weren’t exactly the career he had management 40, is founder and chief executive of PEX Card, a envisioned. His dream was to develop TV shows, company as manage company that helps businesses get a handle on and in the mid-1990s he landed a gig helping managing director and wealth adviser. He was formerly that’ their travel and entertainment expenses by edit segments for Jon Stewart’s MTV talk show. managing director at Citi Private providing prepaid cards that can be programmed Then came stints at the William Morris Agency Bank. Union Square Partnership: Donnie to pay for certain costs, like gas, but not cocktails. mailroom and at DoubleClick, Silicon Alley’s Campbell, 47, joined the nonprofit as Business is growing fast, Mr. Grant reports, with hottest new-media company at the time. ¶ He director of operations. He was previously interagency training PEX attracting more than 1,000 customers. ¶ found his calling when a company he’d joined in coordinator at the New York City Mr. Grant launched his company in late 2006 2000 abruptly switched business plans, selling Office of Emergency Management. with $700,000 from friends and family.That prepaid cards to companies instead of consumers. A Better Chance: Nicole Bouknight Johnson, 39, joined the education family includes a stepmother who is part of the After six years learning the ropes, Mr. Grant nonprofit as director of development. Minskoff real estate dynasty and a father who’s launched PEX, which has 15 employees and has She was previously director of individual giving at the New York an investment banker focused on the same raised $5 million in venture-capital funding— Academy of Medicine. business. Dinnertime conversation growing up at from outside the family. —aaron elstein Tahira West, 39, joined as director of

8 | Crain’s New York Business | March 31, 2014 finance and administration. She was Bordeaux Wine Council (CIVB): Mary trusts and estates group. She was previously finance manager for the Gorman-McAdams, 50, joined the previously a partner at Pryor CORPORATE LADDER Skin Cancer Foundation in New wine-industry representative as Cashman. York City. market adviser for the U.S. and Jacob Fuchsberg: Code and Theory: Chris Bradley, 45, Canada, a newly created position. She Kelly Fitzpatrick, joined the digital agency as group was previously an independent wine 31, joined the law SEQUENTIAL CMO GETS P. DIDDY’S PRAISE creative director. He was formerly consultant and educator. firm as senior WHEN JAMEEL SPENCER—a Crain’s 40 Under 40 in 2004—joined Sequential Brands executive creative director at R/GA. Greenberg Traurig: William Mack,35, counsel. She was Group as chief marketing officer, he received a shout-out via Instagram from longtime Convene: Mark joined the law firm as of counsel. He previously an client Sean “Diddy” Combs. DePiero, 54, joined was previously principal counsel for associate at the the conference- enforcement at FINRA. Lanier Law Firm. The public recognition is something Mr. Spencer is learning to embrace: He said he center developer Windels Marx Lane & Mittendorf: Jason Riemer & has always preferred to be “faceless” in what he does. and operator as vice Mischel, 42, joined the law firm as Braunstein: Lon Singer, 53, joined the Mr. Spencer, 45, will be responsible for leading global marketing initiatives at president of counsel. He was previously acting law firm’s asset-based lending practice Sequential, which licenses its brands to retailers like operations. He was commissioner at the New York City as a partner. He was previously a Macy’s and Sunglass Hut. The two-year-old previously regional Mayor’s Office for People With partner at Otterbourg. company’s eight brands include Justin Timberlake’s director at the Disabilities. Douglas Elliman Real Estate: Jordan Compass Group. Arent Fox: Carolyn Austin, 45, joined Pryce Levitt, 43, joined the real estate clothing line, William Rast; apparel brand Ellen CBS Radio: Katie Forte, 34, joined the the law firm as a real estate partner. firm as an associate broker. He was Tracy; and footwear label Heelys. Five of the eight news organization as senior producer She was previously a partner at Brown previously an associate broker at were acquired in the past year, and Sequential of strategic events and partnerships, a Rudnick. Trump International Realty. plans to snap up two or three more in 2014. The newly created position. She was Mark Fawer, 51, joined the law firm as Tamara Marotta, 52, joined as an company projects revenue will increase to $30 previously director of concerts a real estate partner. He was previously associate broker. She was previously a million in 2014 from $5.3 million in 2012. marketing and digital and social media a partner at Brown Rudnick. senior global real estate adviser and an “We have the potential to shape what the future of at the Madison Square Garden Co. Lippincott: Fabian associate broker at Sotheby’s Momentum Technology Partners: Dave Diaz, 47, was International Real Estate. this company is,” said Mr. Spencer, who was Butler, 53, joined the distribution promoted to senior Ready Set Rocket: Michael Craig, 30, previously the executive vice president of consultancy as managing director of partner at the brand joined the digital agency as global marketing at brand management sales associates. He was previously strategy and design engagement manager. He was company Iconix Brand Group. “As a vice president of worldwide sales for firm. He previously previously an account executive at marketer, you romanticize the idea BigSwitch. held the position of HeBS Digital. of being part of something from the Community Development Trust: partner. Ben Luckadoo, 27, joined as digital Christopher Blair, 34, was promoted to Rosenberg & Estis: strategist. He was previously ground up.” treasurer and senior vice president of Michael Rosenblatt, 67, joined the law marketing manager at Freshpair. Mr. Spencer will report directly to Chief finance for the private real estate firm as counsel. He was formerly —nazish dholakia Executive Yehuda Shmidman, a Crain’s 40 investment trust. He was previously assistant commissioner and deputy Under 40 in 2011. “We are 100% in vice president of finance. counsel at the New York State EXECUTIVE PROMOTIONS growth mode, and Jameel knows the Brian Dowling, 37, was promoted to Division of Homes & Community The fastest way to get an announcement into business model well,” Mr. Shmidman senior vice president of community Renewal. Crain’s is to submit online. Fill out the form said. “He’s a proven brand marketer who investments. He previously held the Riker Danzig Scherer Hyland & Perretti: at www.crainsnewyork.com/section/ position of vice president of Tracy Green Landauer, 55, joined the executive_moves. The Executive Moves understands emerging media.” community investments. law firm as a partner in the tax and column is also available online. —NAZISH DHOLAKIA

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March 31, 2014 | Crain’s New York Business | 9 OPINION CRAIN’S NEW YORK BUSINESS

Rubber room must hit road Rance Crain editor in chief publisher, vp Jill R. Kaplan EDITORIAL ttention over the city government’s The United Federation of Teachers consented to the editor Glenn Coleman expired labor contracts has focused on current system, in which teachers interview for positions and managing editor Jeremy Smerd deputy managing editors Valerie Block, how much the new deals will cost principals hire them—you know, like in the Real World. But Erik Ipsen taxpayers.To be sure, that is important: the union insisted that tenured teachers be allowed to stay on assistant managing editor Erik Engquist senior news producer Amanda Fung The total dollar figure will be in the the payroll even if no principal wanted them.This cohort contributing editor Elaine Pofeldt billions and is certain to exhaust the city’s grew over time and now sucks up nearly $150 million a year columnists Greg David, Steve Hindy, Alair Townsend crain’s health pulse editor Barbara Benson hard-earned surplus. while providing no meaningful instruction. Without senior reporters Theresa Agovino, Aaron Elstein, Lisa Fickenscher, Matthew Flamm, But settling on an amount might be the easy part. A far financial incentive to seek placement at a school, most of Daniel Geiger, Adrianne Pasquarelli more complicated imperative is modernizing the these folks don’t even try. reporters Joseph Anuta, Chris Bragg, A Andrew J. Hawkins, Thornton McEnery agreements so the city has flexibility to manage its The de Blasio administration and the UFT must end this reporter/videographer Ken M. Christensen workforce efficiently.The old contracts, which remain in madness by limiting the time that unplaced teachers are news producer Emily Laermer web reporters/producers effect, are plagued by obscure rules and worker protections paid. Unfortunately, Nazish Dholakia, Irina Ivanova that no longer make sense, if they ever did. They also add tenure is considered a art director Steven Krupinski More than 1,000 deputy art director Carolyn McClain expense, leaving less money for wages. In some cases, they third rail by union staff photographer Buck Ennis copy desk chief Steve Noveck sow distrust between labor and management. Both sides city teachers get leaders. But they ought copy editor Thaddeus Rutkowski stand to benefit from reform. to realize that their data editor Suzanne Panara full pay, benefits researchers Malik Singleton, The poster child for nonsensical job protection is hardworking rank- Nicholas Wells something called the absent-teacher reserve, also known as —but don’t work and-file members have ADVERTISING, MARKETING AND PRODUCTION the “rubber room.” It consists of more than 1,000 teachers no sympathy for sales manager Irene Bar-Am senior account managers who earn full salaries and benefits but lack school incompetent colleagues Jill Bottomley Kunkes, Courtney McCombs, Suzanne Wilson assignments. It emerged after the Bloomberg lingering on the public director of custom content Trish Henry administration in 2005 ended an inane practice by which dole. account executive Lauren Black sales coordinator Cynthia Hutchinson teachers could claim positions in schools of their choosing Fixing the absent-teacher reserve would be a events coordinator & scheduler by bumping junior colleagues, who would in turn do the breakthrough that leads to others, both in the UFT deal and Alexis Sinclair credit Todd J. Masura (313-446-6097) same to other co-workers, and so on. (The old “forced in the nearly 150 additional expired contracts. It would send director of audience & content partnership development Michael O’Connor placement” system resulted in veteran teachers migrating a clear signal that logic and the common good, not outdated senior marketing manager to the best schools while the least experienced were pushed sinecures for the undeserving, shall carry the city and its Catherine Schutten director of conferences & events into the neediest and most dysfunctional.) workers forward. Courtney Williams 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 general manager Rosemary Maggiore web developer & digital sales Tear down this law strategist Chris Tumminello TO SUBSCRIBE: A FAILED REGULATION tens of thousands of middle- Running a food-grade For print and digital subscriptions or customer class jobs, reduce the cost of agricultural company with service, e-mail [email protected] or call 877-824-9379 (in the U.S. and Canada) or By all measures, New York’s public and private construction, significant interest in the 313-446-0450 (all other locations). $3.00 a copy for “scaffold law” is a failed policy and improve workplace safety. regulated marijuana industry, we the print edition; or $99.95 one year, $179.95 two years, for print subscriptions with digital access. istockphoto and must be reformed. We are There is no moral, ethical or have already begun creating the the only state in the country economic reason to keep this framework for a responsible www.crainsnewyork.com/subscribe SHOULD SHOPPERS HAVE with this restrictive law. law as currently written. New York market. We currently TO ADVERTISE: As highlighted in your —nancy ploeger grow pesticide-free produce and Contact Cynthia Hutchinson at TO PAY 10 CENTS FOR EACH online article “Obscure law would love to help provide safe [email protected] or call 212-210-0145. louis j. coletti www.crainsnewyork.com/advertise PLASTIC OR PAPER BAG? drives up building costs,” this The writers are president of the access to medical-quality regulation imposes tremendous Manhattan Chamber of cannabis. We hope the FOR INFORMATION ON OUR EVENTS: Yes. It will reduce waste and save the city costs on the construction Commerce and president and Legislature includes medical Contact Courtney Williams at money. Shoppers can easily bring their own [email protected] or 212-210-0257. industry and makes job sites CEO of the Building Trades marijuana in the final budget to www.crainsnewyork.com/events bags. significantly less safe. Employers’ Association, bring this much-needed change, No. It will be inconvenient for most shoppers. The cost of insuring respectively. and industry, to New York. TO CONTACT THE NEWSROOM: Implement better recycling programs instead. construction projects in New —derek peterson 685 Third Ave., New York, NY 10017-4024 York City is the nation’s CEO,Terra Tech editorial phone: 212.210.0277 Date of poll: March 26 POT PITCH fax 212.210.0799 highest by a factor of hundreds Irvine, Calif. 168 votes Entire contents ©copyright 2014 Crain Communications Inc. of percent, and many insurers The state Assembly should be All rights reserved. ®CityBusiness is a registered trademark have left the market entirely. commended for adding the MAYOR VS. GUV of MCP Inc., used under license agreement. More than $750 million in Compassionate Care Act to its CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS taxpayer money is wasted each proposed budget (“Medical This is a fun contest so far: chairman Keith E. Crain year, and the costs to the marijuana puffing into Mayor Bill de Blasio thinks he president Rance Crain treasurer Mary Kay Crain private sector are double that. Assembly budget,” Crains can run a perpetual campaign Cindi Crain 38% 62% Every single construction NewYork.com).There are against “the machine” and “the project—office buildings, many seriously ill patients, rich,” while Gov. Andrew executive vp, operations William Morrow Yes No executive vp, director of strategic affordable housing, schools, including children with Cuomo wants to be a centrist- operations Chris Crain bridges, highways, subway epilepsy, multiple sclerosis and progressive who also caters to senior vp, group publisher David Klein lines—costs significantly more other physically debilitating the right wing upstate. vp/production, manufacturing David Kamis because of the scaffold law. conditions, in grave need of —chicklet chief information officer Anthony DiPonio Reforming it would create medical marijuana. Online commenter founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) secretary Merrilee Crain (1942-2012) FOR THIS WEEK’S QUESTIONS: CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 Go to www.crainsnewyork.com/poll to have your say. words or fewer to [email protected]. 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10 | Crain’s New York Business | March 31, 2014 could afford a subscription. Mr. Schneiderman is off base. Regret- AG overreaches on tably, it’s easier to fold than fight. The attorney general also reached an agreement with Black- Street data sales Rock Inc. to end its practice of surveying Wall Street analysts about companies they covered and there- ometimes when playing in the great stock-market by gaining access to changing senti- casino,it’s easy to feel as though some of the other play- ments before the analysts’ reports were officially released.That offered ers are paying the pit boss for a peek at the dealer’s an advantage to the firm’s traders. cards.The big guys and those operating on the edge of That case was more troubling be- the law seem to have the advantage. Regulators and cause the analysts were paid to partic- law-enforcement officials play Whac-A-Mole, trying to keep ipate,and their usefulness was judged S by how much they divulged.Still,an- up with technology and operators gaming the system. alysts are not company insiders, and New York state Attorney General Eric Schneiderman is cru- what they were doing wasn’t illegal. Public companies have long sading to level the playing field, but known the dangers of insider trad- in ways that don’t distinguish being. They also know the rules about tween fair and unfair advantages. disclosure: that information about Case in point: his pursuit of the company’s operations and fi- Thomson Reuters, the huge infor- nances must be released to the pub- mation company. Mr. Schneider- lic, not dribbled out quietly to a se- man thought its practice of selling lect few. the results of a consumer- Now Mr. Schneiderman is inves- confidence survey before they were tigating the practice of high-speed publicly available gave the buying trading firms paying to locate their firms an unfair edge, and negotiated computer servers within the data cen- an end to the practice. ters of the exchanges, thereby giving The Thomson Reuters data were ALAIR TOWNSEND the traders access to market-moving being released a mere two seconds data not just milliseconds, but ahead of general availability. In the nanoseconds, faster than others. Mr. era of high-speed trading, getting concerns. Mr. Schneiderman ap- Schneiderman wants to whack this information even milliseconds plauded the decision. mole, too, as I think he should. Ex- ahead of other market participants These firms are in the changes ought to be neutral places. can be a huge advantage. information-gathering business. The moles keep popping up. Earlier this year, Business Wire, They sell to willing customers.There Where there’s a will, there’s a way, a distributor of press releases that’s is not much new in this. There have and so forth. It requires judgment to Business Breakfast Forum owned by Berkshire Hathaway, vol- been newsletters and investing tip decide what’s routine business and untarily agreed to end the sale of di- sheets for years.Small investors don’t what’s improper.But Mr.Schneider- rect access to its service by high- buy because most don’t have the time man seems to be applying a crusad- speed traders, citing reputational to sift through all the data,even if they er’s blunt instrument to the matter.

numbers seem to be, the program Obamacare: When remains under legal and political as- sault—and the end of this story has yet to be written. popular is unpopular The extension of what appeared to be a firm deadline is just one example of the way the Obama administration has changed the law. Last onday was supposed to be the final day to sign week, The Wall Street Journal count- up for health insurance under the Affordable ed 38 ways in which specific require- Meet Rob Astorino, Care Act,but as with all things in Obamacare, ments in the law have been reinter- Westchester County Executive and preted, rewritten or revised (the it is a flexible deadline—which explains both appropriate word depends on your Candidate for NYS Governor the program’s momentum and why it is still politics), and conservatives are pur- Photo Credit: Buck Ennis vulnerable and unpopular. suing a number of legal challenges. M The most important involves The numbers say Obamacare is a success in New York. Fig- Mr. Astorino will discuss: Tuesday, April 29, 2014 whether subsidies were intended to ures released by the state Department of Health a week ago show be available for people obtaining • Why he thinks New York’s New York Athletic Club coverage through the federal web- 180 Central Park South that 717,000 people have signed up site. If the conservatives win, Oba- business climate is worsening 8:00–8:30 a.m. Networking for coverage under the state’s ex- macare will be severely undermined. • What the state could learn from change. Just over half qualified for The second threat will come in Breakfast Medicaid. Some the November congressional elec- Westchester County 8:30–9:30 a.m. Program RATING 344,000 picked tions.Every poll shows a majority of THE ACA private insurance Americans disapprove of the Af- • What it will take to beat Cost To Attend: plans, a 60% in- fordable Care Act, and the Repub- Governor Cuomo this year $95 for individual ticket(s) crease in three licans intend to ride the issue to a $950 for table(s) of ten 39.8% weeks.Updates to Senate majority and gut the law. APPROVE be announced Democrats believe the growing en- Register Today >> You must be pre-registered to attend this this week likely rollment will help reverse those event. No refunds permitted. www.crainsnewyork.com/events-astorinoforum will be even more numbers and allow them to keep For More Information: 53.2% impressive. control of the Senate and protect the DISAPPROVE Sponsored by: Contact Adrienne Yee at Increasingly, GREG DAVID program. Source: Real Clear Politics 212-210-0739 or average of all U.S. polls the program is New York may show how the Af- [email protected]. achieving its pri- fordable Care Act can work, but the mary aim of boosting the number of the department said, which means a courts will have to be convinced that people with health insurance. Sev- 20% reduction in the 2.2 million the implementation has been legal, For sponsorship information, contact Cynthia Hutchinson at enty percent of the New York en- New Yorkers without coverage. and the voters convinced that it is (212) 210-0145 or [email protected]. rollees were previously uninsured, No matter how good the final worth the cost.

March 31, 2014 | Crain’s New York Business | 11 IN THE BOROUGHS BRONX Residents rue new crowd Continued from Page 3 jurisdiction in the city, according to areas, although the more affordable apartments in the the U.S. Census. percentage of resi- South Bronx,according to Many observers say dents with a bache- a recent report from the these neighborhoods have lor’s degree did shoot Manhattan-based Insti- entered a period of gentrifi- up by nearly 40%,in- tute for Children,Poverty, 15% cation, yet most agree it is dicating a greater and Homelessness. That INCREASE in one that differs markedly presence of young area median wave was enough to drive income, 2005- from what has been seen in professionals and/or rents upward by 10% in 2010 recent years in such fast- those with higher the same period, to a rising Brooklyn neighbor- earning potential. blended average of $954 hoods as Bushwick and Unlike the gentri- for all sizes of apartments. $954 Crown Heights. Up in the fication experienced AVERAGE gross Bronx, the new wave of so- in parts of Brooklyn RALPH DA Shelter stays rent in 2010 called gentrifiers are actual- and upper Manhat- COSTA NUNEZ, a community Both those figures ly not that much better off tan, the South Bronx activist, sees the might look modest to 633 than the people they are re- variation of the Bronx as many New Yorkers. But NUMBER of placing.That is why median theme has brought undergoing for residents in one of the families entering incomes rose to $26,731 in less of an ethnic shift. “gentrification poorest areas in the city, shelters in 2010 2010—about half the in- In Highbridge and on a lower level.”

where people can least come level considered very the Grand Con- buck ennis afford any hike in their living costs, low by federal housing standards for course,the ethnic mix they can be intolerable. a family of four in New York City— remains much as it was,with Hispan- president of the Institute for Chil- residents have integrated themselves In that same five-year period,the up from $23,179 in 2005. ics representing about 60% of the dren, Poverty, and Homelessness. into the community and made it a number of families from High- “We’re not seeing stockbrokers population and African-Americans Although a stretch of Bruckner more diverse and dynamic place. bridge and Grand Concourse enter- moving here,” said José Rodriguez, at about 33% during the same five- Boulevard centered around the The good news there is that in ing shelters jumped by a third, to district manager of Bronx Commu- year period, the census showed. Clocktower Building in neighbor- contrast to many gentrifying neigh- 633 in 2010—the second-highest nity Board 4, which includes the “This is gentrification on a lower ing Port Morris seems to defy that borhoods in other boroughs, there number in any community-board Highbridge and Grand Concourse level,” said Ralph da Costa Nunez, conclusion with its artist lofts and are a number of affordable projects trendy restaurants, that enclave is in the works. Among those is a 106- very small and highly atypical of the unit development at 12 East Clarke South Bronx. Place that is nearing completion. Despite how little the needle has Meanwhile, the city is negotiating moved by some measures in the financing on a 134-unit afford- Highbridge and Grand Concourse, able building at 810 River Ave. the impact on low-income families Ironically, however, some High- has still been wrenching, forcing bridge residents being pushed out PROUD. many into the city’s shelter and make too little to pay rent in these As you should be. supportive-housing system. affordable projects, and many programs that are designed to help this This is a great accomplishment you should be proud of, let the ‘Nowhere to go’ population are already overbur- Custom Reprint Department show you how to promote this press. “After [the low rents in the dened. For example, the New York Bronx], there is nowhere to go,” Mr. City Housing Authority has a wait- da Costa Nunez said. ing list of 160,000 people.

CRAIN’S® NEW YORK BUSINESS But the greater mix of incomes “There is something wrong with

VOL. XXIX, NO. 12 WWW.CRAINSNEWYORK.COMYORK.COM MARMARCHCH 225-31,5-31, 20201313 NEW YORK’SK’S RISING STARSSTARS CRAIN’S® NEWANUJ YORK BUSINESS VOL. XXIX, NO. 12 WWW.CRAINSNEWYORK.COM DESAI, 355 MARCH 25-31, 2013 does have its upside. Cedric Loftin, a scenario where you earn too little CRAIN’S® Director of Business DevelopmentDevveeloopment NEW YORK BUSINESS NEW YORK’S RISINGNEW YORK eHEALTH STARS COLCOLLABORATIVELLABORATIVE VOL. XXIX, NO. 12 WWW.CRAINSNEWYORK.COM MARCH 25-31, 2013 Hard Copies ikeike many ffirst-generationirst-generation InIn-- ANUJ dian-Americans, Anuj Desai DESAI, 35 NEW YORK’Salwaysalways RISINGthought he’d be a doc- STARS L tor. Instead,Instead, hishis jobjob is to trans- www.crainsnewyork.com/40under40www.crainsnewyork.com/40under40 Director of Business Development formform how doctors use technology. NewNew PhotographyPhotography by Buck Ennis NEW YORK eHEALTH COLLABORATIVE ANUJ York eHealth Collaborative is a non- district manager of nearby Bronx to qualify for affordable housing,” profitprofit thatthat receives state andand federalfederal DESAI, 35grants to help providers shiftshift to elec- EDITOR’S NOTE ike many first-generation In- tronictronic healthhealth records.records. ButBut iitt aalsolso ad- dian-Americans,Director Anuj of Desai Business Development Premium high quality reproductions on 80 lb. dressesdresses the much larger goal of creating always thoughtNEW he’d YORK be a doc- eHEALTHthe infrastructure—a COLLABORATIVE highwayhighway ofof 40 somethingssomethings L tor. Instead, his job is to trans- sorts—forsorts—forwww.crainsnewyork.com/40under40 a networknetwork that connects Way back in 1993, when I was 32 and an assistant mmanaginganaging editoreditor ofof CraCrain’sin’s ChicagoChicago BusinessBusiness, one ooff my form how doctors use technology. New Photography by Buck Ennis ike many first-generation In- providersproviders statewide. rresponsibilitiesesponsibilities was running thethe annuaannuall 40 UnUnderder 40 York eHealth Collaborative is a non- ThisThis health information network, dian-Americans, Anuj Desai profit that receives state and federal franchise for the Windy City paper. (I say paper, and known as SHIN-NY, connects ononlyalwaysly paper, thought becausebecause he’d thet hbee WorldWora doc-ld WideWide WeWebb hadhad just beenbeen grants to help providers shift to elec- EDITOR’S NOTE electronicelectronic healthhealth recordsrecords acrossacross Lthethe inventeinventedtor. Instead,d tthathat his yyear.ear. job Yes, is to newsroom trans- interns,www.crainsnewyork.com/40under40 I am ririlly,lly, tronic health records. But it also ad- Community Board 1, which in- rilly that old.) Among the mmoreore memorable 40 UndeUnderr said Nancy Biberman, founder and state. Its loftylofty mission is no llessess formtthanhan how doctors use technology. New Photography by Buck Ennis dresses the much larger goal of creating ensuringensuring that all New Yorkers haveYork eHealth4400 honorees Collaborative in that isChicaChicago a non-go Class of ’93, even backback the infrastructure—a highway of 40 somethings then, was a 32-32-year-oldyear-old communitycommunity organizerorganizer namednamed Waysecure, back in accessible 1993, when health I was informationin formation32 andprofit an assistant that receives state and federal sorts—for a network that connects Barack Obama. He was fresh off a stunninstunningEDITOR’Sg local NOTE managingonline. So editor far, 80% of Crain’s of the Chicagostate’sstate’s Businessgrants ,to onepopolitical helpl iticaof providersmyl success, shifth havingaving to elec- lleded 10 employeesemployees andand 700700 glossy paper that are designed to meet your providers statewide. responsibilitieshospitalshospitals havehave washoppedhoppe runningd on thisth theis highway.h annualighway.tronic 40 healthUndervvolunteersolunteers records.40 in Buta voter-registrationvoter-regist it also ad-ration drive that added an This health information network, franchise“Hospital“Hospital for CEOs the Windy really Citycare aboutaboupaper.t dresses (I say paper, theunprecedented much and larger goal1150,00050,000 of creating people to the Illinois rolls.rolls. known as SHIN-NY, connects 40 somethings health information technology,” saysays Mr. Desai.“Desai.“It’s a game-changeronly paper,.” because the World Widethe Web infrastructure—a hadClearly, just been he would highway be going of plplaces.Theaces.The state electronic health records across the invented that year. Yes, newsroom interns, I am rilly, Way back in 1993, when I was 32 and an assistant Mr. Desai’s talents lie in gettingng key pplayerslayers to coocooperate,perate, whether on a technical-standards sorts—forLegisLegislature, a networklature, proprobably.thatb aconnectsbly. MaybeMaybe even … CityCity Hall.Hall.Now, Now, I state. Its lofty mission is no less than rilly that old.) Among the more memorable 40 Under managing editor of Crain’s Chicago Business, one of my agreement or on mentoring with early-stage health IT ccompaniesompanies being incubated in New York City.providerspersonapersonally statewide.lly bbelieveelieve I enendedded up witwithh tthehe bbetteretter jojobb tthanhan ensuring that all New Yorkers have 40 honorees in that Chicago Class of ’93, evenhe back did 20 years later. (And tthehe betterresponsibilities city than D.C.) was running the annual 40 Under 40 “Anuj is the epitome of a connector,”or,” said his boss, NYeC Executivethen, was Director a 32-year-old David Whitlinger.“ community HeHorganizere This health named information network, franchise for the Windy City paper. (I say paper, and secure, accessible health information But I tthinkhink aboutabout thatthat improbablyimprobably prescient picpickk every cludes Port Morris’Bruckner Boule- president of housing nonprofit figures out who needs what and has aann abilitabilityy to build strong trust relationshipsBarack Obama..” He was fresh off a stunningknown local as SHIN-NY, connects only paper, because the World Wide Web had just been online. So far, 80% of the state’s time wewe here aatt Crain’sCrain’s New York BusinessBusiness bbeginegin siftingsifting The New Jersey native, an avidd ccyclistyclist who has ccompletedompleted politicalseveral endurance success, having events, led calls 10 himselfemployees aelectronic andthrough 700 health the records hundreds across of nominominations the nationsinvented we receive that year.each Yes, newsroom interns, I am rilly, hospitals have hopped on this highway. “people person” who thrives on understandingnderstanding thethe businessbusiness aspectsvolunteers ofof technology.tec inhno a voter-registrationlogy. Mr. Desai workedwor driveked thatinstate. addedyyear Itsear lofty for an our mission own annual is no less 40 thanUnderUnder 40rilly issue. that We old.) don’t Among the more memorable 40 Under “Hospital CEOs really care about 40 honorees in that Chicago Class of ’93, even back a business development role at Johnsonhnson & Johnson and was a unprecedentedtechnolotechnologygy and 150,000 business people manamanager gtoer the at Illinoisensuringnecessarinecessarily rolls. that lally llook Newook ffor orYorkers ffutureuture have presipresidents.dents. We ddoo looklook fforor health information technology,” says Mr. Desai.“It’s a game-changer.” Clearly, he would be going places.The state unusuaunusuallylly impressive young acachievershieversthen, in bbusiness, wasusiness, a 32-year-old community organizer named speciﬁc marketing needs. Can be used for secure, accessible health information Pfizer before arriving at NYeC.“I really wanted to work in healthLegislature, IT,”he said,“and probably. NYeC Maybe just even blew … Cityme Hall. Now, I Barack Obama. He was fresh off a stunning local Mr. Desai’s talents lie in getting key playersaway to cooperate, with its vision whether for the on future.”a technical-standards.” —barbara bensonbensoonline.n Sogovernment, far, 80% of nonprofits,nonprothe state’sfits, thethe arts andand elsewhereelsewhere whowho wewe agreement or on mentoring with early-stage health IT companies being incubated in New York City. personally believe I ended up with the better bbelievejobelieve than wiwillll pplaylay lleadingeading rorolesles in shapingshapingpolitical allall thattsuccess,hat is NewNe havingw led 10 employees and 700 hospitals have hopped on this highway. volunteers in a voter-registration drive that added an He he did 20 years later. (And the better city thanYork D.C.) City over the next 20 yyears.Theears.The audacity of hope, “Anuj is the epitome of a connector,” said his boss, NYeC Executive Director David Whitlinger.“ But I think about that improbably prescient“Hospital pick CEOs every really care about unprecedented 150,000 people to the Illinois rolls. Ⅲ you might call it. I am pleaspleaseded to point you to Pages 13 figures out who needs what and has an ability to build strong trust relationships.” WHO Anuj DesaiDehealthesa informationai playedppylayyj technology,”edtime jazzj azz we says here saxophonesaxoMr. at Desai.“Crain’s p It’sNewhone a game-changerYork Business in .begin” to sifting335,5, where yyouou will meet our latestClearly, collection he would of 40 oofbef going places.The state The New Jersey native, an avid cyclist who has completed several endurance events,Mr. callsDesai’s himself talents a lie inthrough getting the key hundreds players to of cooperate, nominations whether we receive onNew a technical-standards each York’s most audacious hohopes.pes. AndLegislature, I hope you probably. Maybe even … City Hall. Now, I “people person” who thrives on understanding KNEW?the business aspects ofhigh technology. scschool Mr.hhoool Desai workedand in performedyear for our own annual in Europe40 Under 40 issue. We don’t personally believe I ended up with the better job than vard, said the new, higher-income agree: Clearly, they will be ggoingoing places. WHEDco. agreement or on mentoring with early-stage health IT companies being incubated in New York City. necessarily look for future presidents. We do look for he did 20 years later. (And the better city than D.C.) a business development role at Johnson & Johnson and was a technology and business“Anuj ismanager the epitome at of a connector,” said his boss, NYeC Executive Director David Whitlinger.“He Pfizer before arriving at NYeC.“I really wanted to work in health IT,”he said,“and NYeC just blew me unusually impressive young achievers in business, But I think about that improbably prescient pick every figures out who needs what and has an ability to build strong trust relationships.” time we here at Crain’s New York Business begin sifting away with its vision for the future.” —barbara benson government, nonprofits, the arts and elsewhere who we ReprintedThe New with Jersey permission native,believe anfrom avid Crain'sC willrain cyclist play's New who leading York has BusinessBusines completedroles ins. ©shaping 20132 0several13 Crain all endurance that Communications is New events, calls Inc. himself a through the hundreds of nominations we receive each All Rightsts reserved.reserved. FurtherFurther duplicationduplication withoutwithout permission is prohibited.prohibited. Visit www.crainsnewyork.com.www.crainsnewyork.com. #NB13009#NB13009 “people person” who thrivesYork on understandingCity over the next the 20business years.The aspects audacity of technology. of hope, Mr. Desai worked in year for our own annual 40 Under 40 issue. We don’t client mailings, reception area reading and for a business development roleyou at might Johnson call & it. Johnson I am pleased and was to point a technology you to Pages and business13 manager at necessarily look for future presidents. We do look for WHO Anuj Desai played jazz saxophonePfizer before arriving in at NYeC.“Ito 35, where really you wanted will meetto work our in latest health collection IT,”he said,“andof 40 of NYeC just blew me unusually impressive young achievers in business, high schoolol andaannd performedd awayin EEurEuropewith ritsope vision for theNew future.” York’sYork s most audacious hopes.hopes. And I hope you —barbara benson government, nonprofits, the arts and elsewhere who we KNEW? aagree:gree: Clearly, they will be going places. believe will play leading roles in shaping all that is New York City over the next 20 years.The audacity of hope, you might call it. I am pleased to point you to Pages 13 Reprinteded with permission from Crain'sCrain's NNewew York WHOBusiness. © 20132013 CrainAnuj Communications Desai Inc.played jazz saxophone in to 35, where you will meet our latest collection of 40 of All Rights reserved.d. FurtherFurther duplicationduplication withoutwithout permissionpermissionKNEW? is prohibited.prohibited. Visithigh www.crainsnewyork.com.www.crainsnewyor schoolk.com. and #NB13009#NB1300 performed9 in Europe New York’s most audacious hopes. And I hope you agree: Clearly, they will be going places. inclusion in press kits. Minimum order of 100. Reprinted with permission from Crain's New York Business. © 2013 Crain Communications Inc. All Rights reserved. Further duplication without permission is prohibited. Visit www.crainsnewyork.com. #NB13009 FROM Eprints (Digital Reprints)

CRAIN’S® AROUND NEW YORK BUSINESS

VOL. XXIX, NO. 12 WWW.CRAINSNEWYORK.COM MARCH 25-31, 2013 Maximize your exposure and drive trafﬁc to NEW YORK’S RISING STARS ANUJ DESAI, 35 Director of Business Development your website with Eprints. Receive a PDF of NEW YORK eHEALTH COLLABORATIVE THE CITY

ike many first-generation In- dian-Americans, Anuj Desai always thought he’d be a doc- L tor. Instead, his job is to trans- www.crainsnewyork.com/40under40 form how doctors use technology. New Photography by Buck Ennis overlay. Comes in 2 ﬁnishes. Features custom York eHealth Collaborative is a nonprofit that receives state and federal After a dozen years of performing house. Tickets are $18 for general grants to help providers shift to elec- EDITOR’S NOTE tronic health records. But it also ad- dresses the much larger goal of creating the infrastructure—a highway of 40 somethings sorts—for a network that connects Way back in 1993, when I was 32 and an assistant managing editor of Crain’s Chicago Business, one of my providers statewide. responsibilities was running the annual 40 Under 40 This health information network, franchise for the Windy City paper. (I say paper, and known as SHIN-NY, connects only paper, because the World Wide Web had just been electronic health records across the invented that year. Yes, newsroom interns, I am rilly, state. Its lofty mission is no less than rilly that old.) Among the more memorable 40 Under ensuring that all New Yorkers have 40 honorees in that Chicago Class of ’93, even back then, was a 32-year-old community organizer named secure, accessible health information Barack Obama. He was fresh off a stunning local plates with section logo and recipients’ name online. So far, 80% of the state’s political success, having led 10 employees and 700 Scenes From the Staten Island Ferry, admission. hospitals have hopped on this highway. volunteers in a voter-registration drive that added an “Hospital CEOs really care about unprecedented 150,000 people to the Illinois rolls. health information technology,” says Mr. Desai.“It’s a game-changer.” Clearly, he would be going places.The state Mr. Desai’s talents lie in getting key players to cooperate, whether on a technical-standards Legislature, probably. Maybe even … City Hall. Now, I agreement or on mentoring with early-stage health IT companies being incubated in New York City. personally believe I ended up with the better job than He he did 20 years later. (And the better city than D.C.) “Anuj is the epitome of a connector,” said his boss, NYeC Executive Director David Whitlinger.“ But I think about that improbably prescient pick every figures out who needs what and has an ability to build strong trust relationships.” time we here at Crain’s New York Business begin sifting The New Jersey native, an avid cyclist who has completed several endurance events, calls himself a through the hundreds of nominations we receive each “people person” who thrives on understanding the business aspects of technology. Mr. Desai worked in year for our own annual 40 Under 40 issue. We don’t a business development role at Johnson & Johnson and was a technology and business manager at necessarily look for future presidents. We do look for Pfizer before arriving at NYeC.“I really wanted to work in health IT,”he said,“and NYeC just blew me unusually impressive young achievers in business, away with its vision for the future.” —barbara benson government, nonprofits, the arts and elsewhere who we believe will play leading roles in shaping all that is New and company. Great for display in the ofﬁce York City over the next 20 years.The audacity of hope, an annual limited-run compilation you might call it. I am pleased to point you to Pages 13 Sundog Theatre was the first WHO Anuj Desai played jazz saxophone in to 35, where you will meet our latest collection of 40 of high school and performed in Europe New York’s most audacious hopes. And I hope you KNEW? agree: Clearly, they will be going places.

Reprinted with permission from Crain's New York Business. © 2013 Crain Communications Inc. All Rights reserved. Further duplication without permission is prohibited. Visit www.crainsnewyork.com. #NB13009 or as a gift. of one-act plays, the borough’s Sun- group to produce and perform orig- dog Theatre this year is doing some- inal theater in the borough. In addi- thing different.For the first time,an tion to producing at least one origi- Other products include custom logo license, posters and postcards. actor will step out of the action in nal theatrical piece yearly as well as character and invite the audience to such shows as The 39 Steps, Sundog vote for one of two endings for each also runs an arts-in-education pro- play,and will then step back into the gram that offers acting classes for Crain’s New York Business is not afﬁliated with any other reprint or plaque vendor. Do not degrade your product. play and finish it according to the kids. Purchase directly through us to ensure the Crain’s New York Business logo and your complete news coverage are featured on your reprint, plaque or other products. audience’s vote. “Our many cultural institutions “The actors have no idea which provide a look into our history and the ending they will be performing un- many facets of island life that make us For more information contact: til that moment,” said Susan Fenley, so unique,” said Borough President Lauren Melesio, Reprint Sales Manager founding director of the Sundog James Oddo. “Sundog Theatre has [email protected] • tel 212.210.0707 Theatre.“It’s exciting and challeng- been showcasing these very interesting for both audience and actors.” ing and thought-provoking aspects in This year’s performances began their 12 years of performances and March 15 and will run until the end educational programs.” of the month at the New Dorp —marine cole

12 | Crain’s New York Business | March 31, 2014 UNDER For t y 40CRAIN’S NEW YORK BUSINESS THE CLASS OF 2014

PHOTOGRAPHY BY BUCK ENNIS WWW.CRAINSNEWYORK.COM/40UNDER40

JASON WANG SARITA BHATT MAXWELL OSBORNE NEW YORK’S RISING STARS

ALPHABETICAL INDEX

Dominique Ansel ------18 Kara Medoff Barnett ------24 Sarita Bhatt ------30 Mona Bijoor ------28 David Brown ------19 Pete Cashmore ------29 Carter Cleveland ------16 Lear deBessonet ------18 Joseph Einhorn ------30 Jill Eisenhard ------18 ONLINE 40 UNDER 40 ‘SHOW AND TELL’ Julissa Ferreras ------32 Marc Glosserman ------36 his year, we asked each of our honorees to bring in an object that had special meaning Tony Haile ------20 for them, something that represented an important step on their road to success.The Bryan Harkins ------29 resulting 40 videos—sometimes emotional, sometimes funny—provide further in- Sana Hashmi ------22 sights into what drives this group of high achievers and can be viewed online at Noah Heller 33 www.crainsnewyork.com/40svideo ------T . Risa Heller 19 Readers can also check out three additional videos in which our 40s answer these three ------Joshua Kushner 30 burning questions: If you could go back and have one do-over, what would it be? Who’s the ------most influential person in your career? What’s the most important decision you’ve made in Lauren Bush Lauren ------20 your professional life? Laura Lee ------16 You can read profiles and see more pictures at www.crainsnewyork.com/40under40, too. Joey Levin ------18 Cyrus Massoumi ------34 LISTEN to a discussion about how we chose this year’s class at CrainsNewYork.com/podcasts Rebecca Minkoff ------22 Amy Odell ------29 Shola Olatoye ------26 Maxwell Osborne ------20 J.R. Rizzo ------22 Jessamyn Rodriguez ------36 Jeffrey Roth ------24 Matt Salzberg ------34 Catherine Schumacher ------26 Rachel Schutt ------34 Savneet Singh ------28 Justin Stefano ------32 Melissa Stevens ------28 Philippe Visser ------33 CONTRIBUTORS COPY EDITORS Steve Noveck, SENIOR NEWS PRODUCER Amanda Fung Peter Wallace ------26 SECTION EDITOR Valerie Block Thaddeus Rutkowski, Christopher Kobiella, NEWS PRODUCER Emily Laermer Jason Wang ------24 SECTION DESIGNER Carolyn McClain Robert Rosenberg RESEARCHER Eva Saviano Emma Wolfe ------32 PHOTOGRAPHER Buck Ennis VIDEOGRAPHER Kenneth Christensen WEB DEVELOPER Christopher Tumminello Joshua Zegen ------16 The Answer To Your Loyalty Problem Is Simple

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14 | Crain’s New York Business | March 31, 2014

NEW YORK’S RISING STARS ChangingChanging thethe channelchannel

LAURA LEE, 38 Director of Entertainment East Content Partnerships YOUTUBE CARTER CLEVELAND, 27 CEO, ART.SY

ike so many great startup ideas, Art.sy was born in a college dorm room. Carter Cleve- Lland, a computer-science major with art-loving parents, scoured the Internet for something beautiful to hang on his wall at Princeton University, but came up empty. He resolved to build a one- stop art shop himself. Four years later, Art.sy, the company that grew from that aura Lee veered from the conventional career path after grad- Seven years later, YouTube is part of every major media company’s effort, includes more than uating from Harvard Business School. Instead of heading to video strategy. In 2013, the Google division netted nearly $2 billion in 100,000 digitized works by Wall Street, she accepted a minimum-wage job answering worldwide video ad revenue, of which $850 million came from the upward of 18,000 artists. And phones at Viacom Productions in Hollywood—determined to U.S., according to eMarketer. with more than 200 museums get her foot in television’s door. Before long, Ms. Lee takes pride in helping creators break new ground. and 1,500 galleries as fee-paying Lshe was developing shows at Spike and VH1 in New “When someone is ambitious and takes risks on partners, the site’s 200,000 users York, ultimately landing at MTV as head of business ‘My family YouTube, you can see the transformation of their can view or buy original pieces development for its Music & Logo Group. company,” she said. and prints by Warhol, Pollock or But Ms. Lee wasn’t done making left turns. In thought I was Her favorite example of late: Vice Media’s decision in Rothko, as well as thousands of 2007, a fledgling media outfit with copyright issues 2012 to shift from two-minute documentaries to longer lesser-known artists. and little, if any, revenue called her up about a job. crazy,’ she said pieces—which proved immensely popular. The company Art.sy has attracted an all-star “Those were the cat-video days,” Ms. Lee just launched a news channel on YouTube. cast of investors and advisers,from recalled of YouTube, which wanted her to persuade of her move “With big, unwieldy corporations, no one wants to tech pioneers like Twitter co- media companies to work with the platform and use stick their neck out,” said Vice co-founder Shane creator Jack Dorsey to art it to showcase their programming. “My family and to YouTube Smith, who began working with Ms. Lee at MTV. entrepreneurs like Larry peers thought I was crazy.” Her Viacom colleagues “Laura is not afraid to.” Gagosian. Reddit co-founder told her, “ ‘We’re suing them, you know.’ ” —matthew flamm Alexis Ohanian cut Mr. Cleveland a $10,000 check after one lunch meeting—later sending him a selfie holding the oshua Zegen kicked off his career as a wheeler-dealer at age 12. From his check to prove his investment. bedroom in Ridgewood, N.J., he bought baseball cards wholesale over “The fact that he’s been able to the phone and sold them at a hefty markup at weekend collectors’ shows make deals and bring on partners JOSHUA at Giants Stadium. Later, as an economics major at Brandeis University, that run the private and museum Jhe and his roommate bought boxes of baseball hats that the makers had worlds of art is awesome,” Mr. ZEGEN, 39 rejected for minor flaws and sold them around campus. But three years Ohanian said. “That is a huge, after landing his dream job as an analyst at Merrill Lynch in 1997 and then huge feat.” Managing member moving on to Salomon Smith Barney, Mr. Zegen “realized it just wasn’t me.” It’s about more than money MADISON REALTY He decamped to a venture-capital firm. But when it dissolved in 2001, he to Mr. Cleveland, who wants to hit rock bottom, breaking up with his girlfriend and moving back home. break down traditional barriers CAPITAL Starting over, he sold his baseball-card collection for $25,000, took a cubicle in through innovations such as his Art his father’s midtown law office and went into the mortgage-brokerage Genome Project, which connects business. A request from a Queens man who needed a $3 million loan to buy a users to art based on building and was willing to pay a premium clued him in to an untapped market for characteristics like color, style specialty mortgages. and historical movement. “It was an ‘aha’ moment,” he said. “In the art world, people are In 2004, he partnered with Brian Shatz, his Brandeis roommate, and raised afraid to say they don’t get it,” he $10 million to jump into the business of making specialty loans for residential said. “What’s up with that? Why and commercial properties. Last year, Madison Realty Capital took in $350 should there be fear associated million.This year, Mr. Zegen hopes to raise almost twice as much. with this form of human “Josh eats and breathes the business,” Mr. Shatz said. “He’s the kind of the guy expression?” who just never lets a deal get away.” —daniel geiger —andrew j. hawkins

16 | Crain’s New York Business | March 31, 2014 You are the exception. Now become exceptional

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Copyright © 2014 Deloitte Development LLC. All rights reserved. 36 USC 220506 Member of Deloitte Touche Tohmatsu Limited NEW YORK’S RISING STARS DOMINIQUE Baking’s ANSEL, 36 Chef and owner upper crust DOMINIQUE ANSEL BAKERY JILL

hen Dominique EISENHARD, 39 Ansel created the Cronut a year ago, Executive director he sparked a glob- RED HOOK INITIATIVE alW sensation. Each day, more than 1,500 customers flock to his namesake SoHo bakery, hoping to snare one of the 450 coveted croissant- doughnut hybrids prepared each morning. Staff has jumped by 30%, to 23, and sales of most pas- tries, ranging from $3 croissants to $44 cakes, have doubled since the store opened in 2011. “I love bringing new things to people. It keeps me and the staff excited,” said Mr. Ansel, who opens the doors each morning to media company. greet customers. “This is not a job JOEY Make that really growing: Today, for me, it’s a lifestyle.” it is IAC/InterActiveCorp, a 50- Mr. Ansel, who grew up in brand conglomerate with revenue of Beauvais, France, decided at age LEVIN, 34 roughly $3 billion in 2013. As CEO 16 to become a chef. After a one- of the firm’s Search & Applications year cooking apprenticeship in CEO of Search division, he manages an Internet his town, and three years in the & Applications division portfolio that includes About.com, military teaching locals in French IAC/INTERACTIVECORP Dictionary.com, Citysearch and Guiana how to work in the Mindspark Interactive Network, kitchen, he went home and, with and generates $1.6 billion in annual less than 2,000 euros he had oey Levin spent 2002 watch- revenue. Mr. Levin previously ran saved, bought a Renault and ing the tech bubble burst from Mindspark for IAC, where he almost drove to Paris to find a job. uncomfortably close range. tripled revenue, a performance that He landed at renowned pastry “I thought I was starting a played a major part in his promotion. shop Fauchon, and helped open Jcareer riding this crazy wave,” the “Joey is driven by change and franchises in Kuwait, Egypt and Chicago native said of his first transformation, always looking at Russia. After eight years, a call postcollege job as a technology new ideas and ways to innovate,” mergers and acquisitions analyst at said Mr. Levin’s boss, IAC Credit Suisse in San Francisco. “But Chairman Barry Diller. “He finds ‘I love bringing instead, the blinds in the conference opportunities in places where no one room came down every few days and else is even looking.” new things they just started firing people.” These days, Mr. Levin’s eyes are Mr. Levin was spared, but the on the booming local tech sector. to people. It experience soured him on “The greatest part of the last investment banks. Armed with a financial crisis was the tech boom it keeps me and Wharton degree in engineering and created in New York City,” he said. business, Mr. Levin decamped for “It proved that you don’t need to be the staff New York City and the acquisitions on Wall Street to find success here.” excited’ team of USA Interactive, a growing —thornton mcenery

from Daniel Boulud in 2006 had LEAR him packing his suitcases for New York. As the executive pastry chef at DEBESSONET, Daniel, he was part of the team that led to the restaurant’s highest 33 recognitions—its first New York Times four-star rating, its third Director of Public Works Michelin star and a James Beard THE PUBLIC THEATER Outstanding Restaurant of the Year Award in 2010. “He’s not just creative, he has a vision,” said Pierre Siue, general manager of Daniel. “A lot of people are inspired by Dominique.” So much so that there are Cronut knockoffs to the point where Mr. Ansel has trademarked the treat. Will his latest creation—a shot-glass-shaped chocolate cookie filled with vanilla-infused milk, dubbed the Milk and Cookie Shot—share similar success? —amanda fung

18 | Crain’s New York Business | March 31, 2014 n the weeks after Hurricane Sandy, the nonprofit Red Hook Initia- tive became a lifeline to its devastated Brooklyn neighborhood and resi- DAVID dents, distributing supplies like coats and blankets, providing hot meals and treating nearly 300 who needed basic medical care. 40 BROWN, 38 ITwo years later, founder Jill Eisenhard has trouble living down the reputation she built. “I’ve done a lot of work communicating to people FACTS Partner that we are not an emergency relief organization,” she said. In fact, the group teaches job and college skills to some 2,500 local PAUL WEISS RIFKIND youths annually. It has grown exponentially since 2002, when Ms. WHARTON & GARRISON Eisenhard started a grant-funded weekend project training local women College stats to become health educators. For two and a half years, she juggled RHI along with her day job with the Children’s Aid Society. ebruary’s bombshell re- Now the nonprofit has a $2.5 million budget and 17 full-time port on bullying and ram- employees, most of them local, and focuses on such skills as robotics, AV pant verbal abuse within operations and network building. In Sandy’s wake, RHI volunteers built the Miami Dolphins’ Graduated35 from 22Have graduate a Wi-Fi network for underserved Red Hook. Flocker room stunned the football “You train young people to get those skills so they can build it for the college degrees community and the public, but neighborhood,” Ms. Eisenhard said. “And then they can use those skills to David Brown had been living with get a job outside the neighborhood.” Indeed. A former student was it for months. As a member of the recently hired to build a Wi-Fi network in Brooklyn’s Dumbo. independent investigative team “Jill has a way of engaging people and drawing people in,” said Paulette Graduate degrees commissioned by the NFL, he was LoMonaco, director of youth-development agency Good Shepherd the lead author. Services. Ms. Eisenhard’s work impressed one architect so much that in “We knew what we were writing 2010 she offered to design the nonprofit’s new office for free.The group 311would be heavily scrutinized,” said is now looking to expand to a nearby building. —irina ivanova J.D. M.D. Ph.D. Mr. Brown. “The issues were Jamaican father was a hospital complicated. We were very careful maintenance worker, and his to publish an objective, impartial German mother, a nurse. Though 10 3 4 view of the facts that reflected the neither of his parents went to M.B.A. M.P.A. M.A. nuances.” college, it was never a question that Mr. Brown was an obvious he would go. Now he does most of his choice for the task. “David is a gifted pro bono work in education, defending writer and dogged investigator,” said charter schools—a stance he Grad schools Mark Mendelsohn, a partner at wishes weren’t so politically Paul Weiss.“He has this breezy, charged. Columbia ------4 conversational style that gets people He’s both raised money for Fordham ------2 to admit things before they even Democrats (President Barack Georgetown ------1 realize they’re making admissions.” Obama and New Jersey Sen. Cory Harvard ------6 One of Mr. Brown’s landmark Booker) and served on former Johns Hopkins ------victories came in 2008, when he Mayor Michael Bloomberg’s Panel 1 Education Michigan State represented several songwriters’ for Educational Policy.“ ------1 unions in defeating record reform is the civil-rights movement of NY Medical College ------1 companies’ attempts to cut more our time,” he said. “Ideally, it should NYU ------4 than $1 billion in royalties. be something that the left and the St. Andrews ------1 Mr. Brown grew up in Queens, right can agree on.” Wharton ------1 the son of immigrants—his —hilary potkewitz

Relationship status RISA Married 24 HELLER, 34 CEO RISA HELLER Long-term relationship COMMUNICATIONS Single t’s probably safe to assume 9 that all conversations with 7 Risa Heller begin this way: ear deBessonet became a Subdistrict Council, which “Can we do it all on back- fan of community the- granted Public Works $500,000 Iground and then you pick the ater as a child watching to help it expand. quotes?” lavish pageants per- Ms. deBessonet, who won an After all, one does not rise to Now, as president of her own Lformed at church in her home- Obie last year for her direction of Started a family the top of the heap in New York’s shop since 2011, she manages a town of Baton Rouge, La. Bertolt Brecht’s Good Person of fiercely competitive public- roster of high-profile clients such as “It was just so magical,” said Szechwan, has long combined her No relations world without a built-in Major League Soccer’s New York Ms. deBessonet. “Everyone was interest in theater with activism. At her skepticism of reporters bearing City FC, Airbnb, the Metropolitan so connected.” first theater job in 2002—working digital recorders. Opera and SHoP Architects. These days, she stages her own for one of her idols, director Anne 22 Ms. Heller, a Michigan native, Revenue has doubled each year, and shows as the Public Theater’s Bogart, on Bobrauschenbergamerica 1 cut her teeth working for Sen. she recently added two full-time director of Public Works, an —she volunteered for a group that Expecting Chuck Schumer, who has employees. Her challenging stint as initiative designed to draw tried to keep kids out of jail. In 17 developed a reputation for churning communications director for ex- audiences regardless of age, race, 2009 in Philadelphia, she directed a Yes out sharp-tongued communica- Gov. David Paterson, who copped background or class. cast that included homeless-shelter tions experts for years. But after two to infidelity and drug use soon after But Ms. Lear’s effort goes beyond residents in a production of Don years of repping America’s most taking the reins from Eliot Spitzer, getting the underserved into the seats. Quixote, a forerunner to her omnipresent politician, she was led to other “politicians-in-crisis” Last summer, she directed a Tempest project. ready to move on. Mr. Schumer work. Most recently, she advised musical version of The Tempest at “Lear is my favorite Residential status bore no hard feelings: On the night Anthony Weiner in the wake of his Central Park’s Delacorte Theater collaborator,” said Todd Almond, of her going-away party, his car was sexting scandal. featuring a cast of more than 200 who wrote the score for The on the fritz, as was his back, but he “I can manage big problems,” Ms. that included domestic workers, Tempest.“She comes up with these still made it out. Heller said. “A lot of people are not taxi drivers and public-school kids. big, crazy ideas. She feeds you the 29 38 21 “She was always herself. And I think born with the temperament to say, Critics adored it. The show, inspiration so you get excited, so Are native Live Own their people liked that about her,” Mr. ‘You have a huge problem, and which involved five nonprofits, it works.” New in the primary Schumer said. “She didn’t put on here’s how we’re going to try to fix was also noticed by the Theater —theresa agovino Yorkers city residence airs. She said what she thought.” it.’ ” —andrew j. hawkins

March 31, 2014 | Crain’s New York Business | 19 NEW YORK’S RISING STARS MAXWELL Role model for OSBORNE, 31 Designer fighting hunger PUBLIC SCHOOL ust before his Fashion Week runway show in February, Maxwell Osborne was scrambling to debut women’s LAUREN BUSH Japparel alongside Public School’s street-inspired menswear. In came Vogue Editor LAUREN, 29 Anna Wintour, who suggested separating statement pieces and in- CEO, FEED PROJECTS creasing the lineup to 13 styles from 10. “She spent a good amount of time with us,” said the native New Yorker. “It was really good feedback.” It’s no surprise that Ms. Wintour, a fairy godmother of sorts our launching pad?’ ” for hip young brands, has taken the It’s a timely strategy, since the six-year-old label under her wing. buzz is only growing—Public Last year, Public School, which School, which sells at 20 retailers, manufactures locally, won two Council including Barneys New York and of Fashion Designers of America nods— Bloomingdale’s, generated just the Swarovski award for menswear under $1 million in sales last year, and the Vogue Fashion Fund, or 10 times 2012’s revenue. which offers financing and “Maxwell is someone special,” mentoring. The new women’s said Lisa Smilor, executive director collection is already receiving rave of the CFDA, who met Mr. reviews. Osborne through a fashion “Womenswear was always incubator program in 2010. “He’s something we wanted to do,” said not out there standing on a soapbox Mr. Osborne, who met co-founder ringing the bell—he lets the work Dao-Yi Chow when both worked speak for itself, and you can tell he at Sean John. “We thought,‘Why loves it.” not use this [recent] momentum as —adrianne pasquarelli

with a smile. TONY That’s incredibly humble coming from a man whose company’s software is commonly known as the HAILE, 36 “crack cocaine” of Web data. CEO, CHARTBEAT Chartbeat, founded in April 2009, uses real-time analytics to trace user olar explorer, yacht racer, engagement on websites—and to Columbia professor and make sure they keep coming back. CEO of a successful start- Chartbeat’s client list has grown to up company are all unique more than 4,000 in 35 countries, Pthings to put on a résumé. But including 40 of the top 50 U.S. Tony Haile thinks his story is publishers by traffic, such as pretty boring. The New York Times Co., ESPN “One of my friends is about to and CNN. complete the world’s most difficult Martin Conder, one of Mr. polar expedition; that’s who you Haile’s former teammates from the should be writing about,” he said BT Global Challenge yacht race, says Mr. Haile has the right kind of auren Bush Lauren’s Feed bags are “Lauren is a true role model for her generation.” personality for the startup industry. worn by celebrities and used as makeup Ms. Bush Lauren—a former model and a niece of “He combines the ability to attract pouches for Clarins and gift bags for George W. Bush who married Ralph Lauren’s son and build a great team with a full range Godiva chocolates. A portion— David—got the idea for Feed in 2003 when she was of skills to lead it with enthusiasm usually 10%—of all a student ambassador for the U.N. and seemingly unlimited energy,” Lsales is donated to charities that World Food Program in Mr. Conder said. fight hunger. Feed provides Guatemala. Following stints as a manager Ms. Bush Lauren, who founded In the past seven years, Feed has for technology startup Twitterfeed Feed Projects in 2007 to help ‘a small way donated more than 75 million and as an editor for the Middle eradicate hunger in impoverished meals (valued at more than $10 East and international terrorism countries, went mass market last to right million). Revenue for the company, desk at consulting firm Control summer by teaming up with Target which has 10 employees, grew 75% Risks, Mr. Haile joined New York’s to create Feed products ranging inequity in from 2012 to 2013. startup community after helping a from denim shirts to kitchenware The Princeton graduate is friend with an idea for a website. that benefit hungry Americans. the world’ looking for new ways to engage people “The very best thing about The joint project raised enough in her cause. She started a 10K race building a company is you get to money to cover 15 million meals. in Manhattan two years ago that choose who you work with, and “It was one of the most has since raised $420,000 for food one of the things that gives me the extensive collections of products banks. “There is such inequity in most joy is the development people offered by Target that benefited a the world, and Feed is a small way have shown since coming to cause,” said Michelle Mesenburg, vice president of to right that inequity,” Ms. Bush Lauren said. Chartbeat,” he said. style marketing for the Minneapolis-based retailer. —miriam kreinin souccar —bilal iftikhar

20 | Crain’s New York Business | March 31, 2014 IN NEW YORK, THERE’S NO SUCH THING AS FASHIONABLY LATE. THE MOST ON-TIME FLIGHTS IN NEW YORK.

#KEEPCLIMBINGNY

Compared to other major U.S. airlines, based on DOT A14 on-time arrival rates for LGA and JFK from January through November 2013. 20140331-NEWS--0022-NAT-CCI-CN_-- 3/27/2014 1:36 PM Page 1

NEW YORK’S RISING STARS REBECCA MINKOFF, 33 Designer REBECCA MINKOFF LLC

ebecca Minkoff enrolled in a special high school in Clearwater, Fla., with the hopes of Rbecoming a dancer. But at 5-foot- 9, she was deemed too tall, so she ended up in the costume department, where she sewed four hours a day—a skill she learned from her mother. “My parents instilled in me that if you want to do something, you have to do it yourself,” said Ms. Minkoff, who moved to New York at 18 to try her luck in the fashion industry.“It wasn’t always what I wanted to hear, but it taught me not to take no for an answer.” Showing that pluck, Ms. Minkoff launched her own clothing line in 2001 with $10,000 in savings.Three years later, and running out of funds, she used her final grand to design a purse she dubbed the Morning After Bag because it could fit all the essentials. Orders started flowing, and her brother, Uri, CEO and co-founder, loaned her seed money and helped her get started. In 2009, she jumped back into TheThe visionaryvisionary apparel.These days, her namesake firm has 73 employees, and its wares are sold in more than 700 stores the movie theater.” Medicine, Dr. Rizzo directs the Visuomotor around the world, including three J.R. RIZZO, M.D., 32 Seventeen years later, and with 90% of his Laboratory at the Rusk Institute of company-owned shops in Japan vision gone, teenage angst has turned into Rehabilitation Medicine, where he does and South Korea. Revenue Chief medical officer driving determination. Inspired by his research on motor recovery and eye-hand reached $60 million in 2012, up anesthesiologist grandfather—and his intimate coordination after brain injuries. from $35 million the prior year, TACTILE NAVIGATION TOOLS knowledge of the challenges of being visually “His ability to think outside the box is truly and grew 40% in 2013. impaired—Dr. Rizzo is a man in a hurry, bent on incredible,” said Dr. Stephen Flanagan, chair of This spring, Ms. Minkoff, hen, at age 15, John-Ross finding ways to improve the lives of the disabled. NYU’s department of rehabilitation. who is pregnant with her second “J.R.” Rizzo was diagnosed His startup,Tactile Navigation Tools, is Dr. Rizzo also is using that talent as medical child, will open her first New with choroideremia, the applying technology to visual impairment, an adviser to two other startups, including one York City store, and branches in progressive and incurable area that has lacked innovation for a century. In with technology to diagnose and treat Los Angeles and San Francisco condition that is stealing his development are the Cumba Cane, a three- disabilities. “I want to be able to take people are in the works. eyesight,W his first reaction was that he’d never pronged, wheeled cane, and the Eyeronman, a with weaknesses and strengthen their sensory Despite her success, fashion be able to date. “I’m like, I’m not going to ever sensor-equipped vest for use by the visually systems, give them back their abilities so they’re insiders say Ms. Minkoff is be able to take a girl on a date,” the New York impaired, as well as by police and military on the same level as anyone else,” Dr. Rizzo unusually down to earth. “I can University physician said. “I’m going to have to personnel in dicey situations. said. “Life is about how to leverage your ability to do call her about anything and she will have my mom drop me off in a minivan behind A clinical instructor at NYU School of your best.” —judith messina accomplish it,” said Brooke Jaffe, operating vice president for women’s ready-to-wear at Bloomingdale’s. “To have such launch team. She’s also one of three employees accessibility with the actual SANA HASHMI, 26 featured in the company’s ad campaign. designer is very unusual.” Ms. Hashmi helps older colleagues —miriam kreinin souccar Director of health care reform understand how the insurance field must strategy and product design innovate. “I love data. It speaks volumes,” she said. The Long Island native, who hails from a EMBLEMHEALTH close Pakistani family, is taking the LSATs in June because she sees herself one day being the ana Hashmi was a college freshman force behind sweeping change such as when her mother was diagnosed with Obamacare. “It would be so incredible to write a breast cancer and her father lost his job. law or mandate, to have that power,” she said. As a first-generation American, it fell to For now, she loves being part of a company SMs. Hashmi to keep her parents from being with $10.2 billion in revenue and “amazing uninsured. The experience, she recalled, opened leaders who really believe in me.They could her eyes to “how fragmented the health insur- have said: ‘You are 26 years old; you have no ance world can be.” idea what you are doing.’ Instead, they said: Now Ms. Hashmi is shepherding ‘She’s really smart; give her a chance.’ ” EmblemHealth through Obamacare and the complex Ms. Hashmi is “one of those rare finds whose process of selling products on New York state’s intellect is only surpassed by her passion and health exchange. While competitors stumbled, enthusiasm,” said Charlene Maher, Emblem- EmblemHealth’s 50,000 new exchange Health’s senior vice president and chief members all had ID cards on time, thanks to marketing officer. Ms. Hashmi’s supervision of a 200-member —barbara benson

22 | Crain’s New York Business | March 31, 2014

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NEW YORK’S RISING STARS

fter graduating from Washington University in St. Louis with a busi- A family recipe ness degree, Jason Wang planned on a corporate Acareer. But when his father’s two tiny restaurants in Flushing, Queens, got for growth shout-outs from celebrity chefs like Anthony Bourdain, Mr. Wang, who was born in China and came to the U.S. at age 8, jumped in to help with the suddenly overflowing crowds. “I joined the business wanting to keep the momentum going and to control it,” said Mr. Wang, who quickly learned from his father, David Shi, to cook the authentic central Chinese street food Xi’an serves. Chef Andrew Zimmern of the Travel Channel’s Bizarre Foods saw star potential in Mr. Wang, who now JASON often joins him in cooking demonstrations at food festivals JEFFREY around the country.“I ate noodles at WANG, 26 Xi’an Famous Foods a few years ago, ROTH, 35 CEO, XI’AN FAMOUS and here is this electric kid bouncing in and out of the kitchen,” Mr. Zimmern Assistant commissioner FOODS said. “I insisted that we film an for management episode of the show at the restaurant.” Since then, Mr. Wang has initiatives, FDNY spearheaded the company’s expansion with four Xi’an Famous effrey Roth does not rush Foods in Manhattan. The midtown into burning buildings or eatery alone generates $1.2 million pose for calendars. But he in annual sales. Mr. Wang just signed can save lives without ever a lease for a corporate headquarters Jleaving the Fire Depart- in Manhattan, and has plans to open ment’s MetroTech, Brook- another five restaurants in the city. lyn, headquarters. The son frequently squabbles with Mr. Roth is the FDNY’s his father over how to run the assistant commissioner for company, insisting, among other management initiatives, a civilian things, that new dishes are thoroughly role that tasks him with making vetted before they are added to the the agency more effective.Think menu. “I put the brakes on a lot of my Moneyball for firefighting. He is dad’s ideas, and he gets frustrated,” he particularly keen on lifesaving data,a said. “But we try to complement each focus that grew out of his 2003 other’s strengths and help each other tour in Egypt with the National understand our weaknesses.” Guard and deepened during —lisa fickenscher three years as a Bloomberg administration operations staffer. Arriving at the FDNY in 2010, he began work on an TV viewing style Favorite NY-area sports team Fitness program innovative project to assess the fire risk for every building in the city. 10 10 “Our fire companies do 8 22 20 building inspections three hours a 40 5 3 day, three days a week,” the FACTS 21 15 4 5 2 1 Michigan native explained. “But Downton Walking Duck 4 Weights Yoga Couch Zumba we can’t inspect all 1 million Abbey Dead Dynasty Yankees Nets Knicks Mets Giants Jets Red Bulls potato buildings.” Only a third get a look each inspection period, so Mr. Roth helped build a program that gives each one a risk score based ara Medoff Barnett first visited Lincoln Center for the Perform- on previous inspections and other ing Arts to see George Balanchine’s Jewels when she was an 8- factors. Every fire company gets a KARA year-old aspiring ballerina from North Carolina.The mother of ranked list so it can prioritize the two has kept her vow to work there, although instead of wearing a most dangerous lots—a fire- Ktutu she dons a suit as the managing director of Lincoln Center Global, a prevention tool that has been MEDOFF consulting practice launched in 2012.The group advises other arts organiza- revolutionary, FDNY officials say. tions around the world on issues from strategic planning and programming “Jeff’s innovative work is helping us BARNETT, 35 to branding and fundraising. drive change in the organization, and “We are experimenting with different ways we can reach out,” said Ms. it’s made us both smarter and Managing director Medoff Barnett, who earned an M.B.A. at Harvard after graduating from safer,” said Fire Commissioner Duke University.“It’s not just revenue for us. We learn new ideas and practices Salvatore Cassano. LINCOLN CENTER that are introduced to us from clients.” Now Mr. Roth is using GLOBAL So far, the practice has generated $9 million from seven clients for statistical analysis to better recruit Lincoln Center, which has a budget of $117 million.The consultancy grew women and minorities. “We’re out of a pilot project when Lincoln Center helped the Chinese city of really just tinkering with our own Tianjin develop plans for a performing arts center. data,” he said, “to see what we can Ms. Medoff Barnett joined Lincoln Center in 2007 and has held a learn about ourselves.” variety of positions there, including fundraiser and internal consultant. The effort is starting to pay Previously, she won a Tony as a producer of the 2003 revival of Long Day’s off: Although the department Journey Into Night. remains nearly 90% white males, Her experience is one reason Lincoln Center’s former president 46% of the current FDNY Reynold Levy handpicked her to lead the unit. “Very few people understand academy class is made up of all aspects of the arts the way Kara does,” said Mr. Levy, who recently retired. people of color. —theresa agovino —thornton mcenery

24 | Crain’s New York Business | March 31, 2014 Congratulations to Jill Eisenhard for being selected to Crain’s New York Business “40 Under 40”

Help us support the next generation of Crain’s “40 Under 40”

12 years ago as Founder and Executive Director, Jill started with an idea that has now empowered thousands of Red Hook youth. The Red Hook Initiative provides young people ages 10 to 24 with academic support, professional development, leadership opportunities and a sense of hope. Each and every one of these lives is full of promise.

Sanji Kathy Frank Age: 17 Age: 23 Age: 14 Future: She is a Youth Leader at )XWXUH6KHLVLQWHUHVWHGLQÀQGLQJ Future: He excels at science Red Hook Initiative and a junior tech solutions for social justice, and math and is exploring the with strong grades, who plans to especially as it relates to the rights possibility of becoming a heart become a pediatrician. of public housing residents. surgeon.

Donate to the 500 FUTURES campaign or learn more at www.rhicenter.org

Creating Change From Within

Funding for this ad donated by the Red Hook Initiative Board of Directors NEW YORK’S RISING STARS

Finding a home PETER WALLACE, 39 at NYCHA Senior managing director BLACKSTONE GROUP

he media business runs deep in Entertainment help explain why. Peter Wallace’s family. His grand- Blackstone bought the theme-park father Mike was a fixture on 60 operator five years ago in a $2.3 billion Minutes, and his father, Chris, is leveraged buyout, and Mr. Wallace joined Tan anchor on Fox News. But Peter decided its board. Last year, the company was taken early on that a career in front of the camera public, and Blackstone recouped its $1 wasn’t for him. billion cash investment, plus another $700 Mr. Wallace is one of Wall Street’s most million on top. Its remaining stake is worth plugged-in dealmakers and has worked at $1.2 billion. private-equity giant Blackstone Group Lucrative as the deal was, Mr. Wallace since 1997, after he graduated from Harvard said, his family keeps him grounded. One of his magna cum laude. During his tenure, he has sons berated him during a family trip to helped buy, run or sell such companies as SeaWorld for neglecting to build a roller the Weather Channel, AlliedBarton coaster small enough for his daughter. And Security Services and SiriusXM Satellite his wife, whom he met on a blind date Radio. He reckons that his cellphone has arranged by his famous grandfather, 7,500 contacts. subjects him to annual reviews of his Blackstone’s global head of private performance as a husband. equity, Joe Baratta, said Mr. Wallace has “She said last year we should go to the “great leadership potential” and is seen as theater more,” Mr. Wallace said.“And that someone who could lead the firm one day. I need to do a better job picking my socks Big scores like the one with SeaWorld off the floor.” —aaron elstein CATHERINE SCHUMACHER, 37 SHOLA Partner OLATOYE, 39 KAYE SCHOLER Chairwoman and CEO very teacher Catherine Schu- macher ever had predicted she NEW YORK CITY would someday become a HOUSING AUTHORITY lawyer. “Maybe it was my love Eof arguing?” she guessed. But while growing up in West- hampton Beach, L.I., she didn’t know hola Olatoye still remembers when One of those jobs was as issues director any lawyers. Her mom taught high- she was 10, and her single-parent for former Public Advocate Mark Green’s school English and journalism. Her dad, mother enrolled in a program in 2001 mayoral bid. Later, she tackled a social-studies teacher and football Waterbury, Conn., designed to help complicated land-use and urban- coach, stoked her competitive edge and first-time homebuyers. development projects at the real estate pushed for law school. S“It fundamentally changed the direction of our consulting arm of HR&A Advisors. Now she works for Kaye Scholer in the lives,” said Ms. Olatoye, sitting nearly three From there, she went on to manage a high-pressure world of securities class- decades later in a bright-blue conference fund for British banking giant HSBC that actions and shareholder lawsuits, room at the Battery Park offices of invested in low-income neighborhoods in defending top executives. Enterprise Community Partners. Washington, D.C., and Florida before she One of her first big victories was in There, she oversaw affordable-housing returned to New York and joined representing Kenneth Cole and his programs before Mayor Bill de Blasio tapped Enterprise. namesake fashion house in a series of her in February to chair the vast New York One of the things that strikes people about shareholder suits that erupted when Mr. City Housing Authority, with Ms. Olatoye is the energy Cole took the company private. She got its 180,000 housing units, she maintains even outside the case dismissed. 11,000 employees and $3 A program work.The married mother “You need to know how to use the one of the firm’s youngest partners. billion budget. of two boys younger than appropriate tools at the appropriate time,” “In this business, you get a lot of talented She had always been for first-time 8 “still wakes up at 5 a.m. Ms. Schumacher said. “Sometimes being nice people,” explained Kaye Scholer partner interested in public service. to go running,” noted is useful, but if I need to use the hammer, I will.” Vinny Sama. “But often they have one or But even after graduating from homebuyers Tracey Gardner, Ms. She’s also helping represent the former two skills. Kate is rare: She’s a good listener, Wesleyan University with a Olatoye’s closest friend chief financial officer of insurer AIG has terrific judgment, a lot of patience, is a history degree, and from New ‘changed our and Delta Sigma Theta against accusations of covering up massive terrific writer, has great analytical skills and York University with a master’s sorority sister. Ms. accounting fraud. is great with people. I’ve been doing this a degree in public administra- lives’ Olatoye is also training Ms. Schumacher may not be winning long time, and she’s the person I would go into tion, it took several jobs for her for her first marathon. friends among shareholders, but she’s a major matter with.That says a lot.” to focus on housing. —joe anuta gained quite a following among peers.She’s —hilary potkewitz

26 | Crain’s New York Business | March 31, 2014 “Earning this degree changed my life.”

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“Through my studies I gained a global perspective.”

“What I learned in class took my career to a whole new level.”

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request info. and/or apply: scps.nyu.edu/gradinfo1g NEW YORK’S RISING STARS Golden opportunity

MELISSA STEVENS, 39 Managing director, Internet and mobile banking CITIGROUP

uring her apprenticeship years at Citi- group, Melissa Stevens served tours Dof duty in such divisions as mortgages, credit cards and call cen- ters. But what made the biggest impression was a stint behind the teller window at a Manhattan branch, where a line of impatient customers stretched out the door. head of Internet and mobile “It doesn’t take long before you banking, where she leads a group of start thinking, ‘There has got to be 150 programmers and designers a better way,’” Ms. Stevens said. across five countries. In early In her current job, she aims to February, her group unveiled an eliminate the lines. Last year, Ms. innovative app that allows Stevens was named Citi’s global customers to view their balances

MONA BIJOOR, 37 CEO, JOOR Angel-investor-backed GBI started by signing up SAVNEET SINGH, 29 precious-metal dealers, vault owners and insurers as partners, and then spent 18 months pitching wealth- President management firms. It didn’t book a dime of revenue GOLD BULLION INTERNATIONAL until Merrill Lynch and its army of financial advisers signed on in 2011, paving the way for banks, hedge avneet Singh once dreamed of playing pro- funds and individuals to follow suit.Today, former fessional tennis. As a teenager, he even beat banker Sally Krawcheck and former SEC Chairman a young Andy Roddick at a tennis camp. Arthur Levitt sit on its advisory board. But despite Mr. Singh’s talent, he knew a Mr. Singh won’t disclose GBI’s backing or its professional sports career would be risky revenue, but said the company has done billions of dollars Swhen it came to making a living. in transactions in the past few years, and grew more than Today, he is taking a different kind of risk: 20% last year. disrupting the gold business, an industry that hasn’t changed “He’s very smart,” said Jesse Pujji, CEO of much in 50 years.The company he co-founded, Gold Ampush Media and a former adviser to GBI. “He can Bullion International, is a digital platform where filter through the noise to find the signal, but the banks, businesses and individuals can buy, sell and difference [between him and others] is he can turn store gold, ship it, insure it and have it audited. around and get it done.” “What GBI does is make it transparent, electronic Mr. Singh is more modest: “The only genius in and extraordinarily liquid,” said Mr. Singh, a former entrepreneurship is not giving up.” investment banker. —judith messina

28 | Crain’s New York Business | March 31, 2014 20140331-NEWS--0028,0029-NAT-CCI-CN_-- 3/27/2014 3:08 PM Page 2

aving founded Mashable at the age of 19 tracker Adobe Marketing Cloud. in his Aberdeenshire, Scotland, bedroom, Just as notable, three Mashable articles are shared Pete Cashmore got an early start building every second, according to Mashable’s Velocity PETE the biggest news site for platform. Some of them are the social-media generation. 40 H “branded,” that is, sponsored by But his entrepreneurial endeavors ‘I wanted advertisers—one reason revenue grew FACTS CASHMORE, started even earlier. At just 16, he set by 50% in the fourth quarter of 2013, up an eBay store selling e-books. He to know compared with the prior-year period. 28 was also writing and selling online This winter, Mashable raised $14 articles—and obsessing over what the million in its first financing round. Fashion statement CEO, MASHABLE technology.“I saw technology was The company, which has long been changing the world, and I wanted to know future profitable, is using the money to add Jeans and Chucks everything about it,” he said. “I wanted to coverage, expand overseas and move know what the future looks like.” looks like’ to a nearly 40,000-square-foot 20 Mr. Cashmore now sees the future headquarters in the Flatiron district Suit and tie every day—using an algorithm that in June. tracks social sharing of Mashable “The site reflects Pete—it’s 10 stories and others on the Web to inspirational, open, global and covers Pumps and a pantsuit figure out what the site’s users want to read. everything,” said Michael Lazerow, co-founder of Tools like that have helped Mashable grow its Buddy Media and a Mashable investor. “[His team] 6 audience to 32 million unique visitors, as of January, just gets what’s going to resonate, and they’ve used High heels and a miniskirt up 28% from a year ago, according to online-traffic data to refine that.” —matthew flamm 4

and check transactions without even logging into their accounts. AMY ODELL, 28 Work style A career at the intersection of technology and customer service Editor, COSMOPOLITAN.COM is not what the onetime psychology major envisioned in ’ve always loved women’s magazines,” said Amy 1998, when she joined Citi’s Odell. “I subscribed to as many of them as I human-resources department. could growing up.” But the Austin,Texas, native, 20Highly 20Scattered, in a But Ajay Banga, a mentor at who was raised wearing flip-flops and cutoffs, organized creative way Citi who is now CEO of Ialso recognized the unhealthy emphasis they placed MasterCard, urged her to delve on body image. “I wanted to be part of this effort, deeper into banking, and by where women’s media is becoming more feminist.” 2006 she had joined Citi’s online As editor of Cosmopolitan.com, she’s got her banking group. chance. Ms. Odell, who joined the popular site in Power lunch “I am not at all surprised to see September, has expanded coverage of women’s issues her career continue to expand and such as the ongoing abortion debate, helping to boost Restaurant evolve,” Mr. Banga said. the site’s traffic to 23 million unique visitors in January, At desk As head of a business with compared with 11 million in January 2013, according more than 100 million customers to Adobe Analytics. Skip it in nearly 40 markets, Ms. Stevens Of course, the former fashion editor at BuzzFeed, is constantly on the road. She who plans to relaunch Cosmopolitan.com in May, is 5 tries not to travel on weekends so not all serious business. “We ask [readers] to send us she can spend time with her pictures of their cats reading Cosmo, and they do it!” she’s incredibly successful in doing all of those,” he said. husband and two children, even if Ms. Odell said. Eventually, she’ll be able to add “published author” 5 that means flying to and from Alex Rees, Cosmopolitan.com’s pop-culture editor to her list of accomplishments. Ms. Odell is currently 30 Singapore inside of four days. “If —who also worked with Ms. Odell at BuzzFeed and working on a book that she describes as a “frank and you aren’t out there, you can’t know New York magazine, where she helped launch fashion humorous take on what it’s like to work in the fashion how you can help,” she said. blog The Cut when she was just 22—calls her a “triple industry as someone who feels very much like an —aaron elstein threat.” “She is a writer and an editor and a manager, and outsider.” —nazish dholakia

s an apparel buyer at Ann Inc. tasked with identifying trends, 20.54% of daily U.S. stock trading Mona Bijoor grew frustrated with the inefficiency of the pur- volume—a statistical hair behind chasing process. Orders were made by phone, and styles were se- BRYAN the New York Stock Exchange’s lected by circling items on paper. Four years ago, the Wharton 20.58% share. ASchool of Business graduate launched a remedy: Joor, a digital marketplace Mr. Harkins’ career as an agent that connects apparel brands with retailers. Orders are placed digitally, and HARKINS, 37 of Wall Street upheaval started with users can see everything in real time. Executive vice president a trip to a job fair in early 1999. “This is a visual industry—it’s not about looking at a spreadsheet; it’s After surveying the booths, he about visualizing your store,” said Ms. Bijoor, a Buffalo native who credits and head of U.S. dropped off his résumé with her entrepreneur parents—both markets Instinet, a pioneering firm that used immigrants—with empowering her to start computers instead of floor traders to The apparel her own venture. “Our mobile app and BATS GLOBAL MARKETS execute stock orders. He figured he website are very conducive to that.” got a job on the customer-support industry ‘is After launching with 40 brands and 200 desk because the firm was about stores, Joor now has 750 brands, such as Rag & impressed with his degree in Bone and Diane von Furstenberg, and 50,000 computer applications from the visualizing wholesalers, including Barneys New York University of Notre Dame. and Otte, from which it collects, on average, “He’s got a rare ability to understand your store’ a 3% transaction fee. technology and communicate with Revenue at the 38-employee firm has customers who do not,” said Mark quadrupled from $1 million in 2012 to more ryan Harkins started using computers when Chazen, a Citigroup executive who hired Mr. Harkins than $4 million last year, a figure that should he built a database of customers on his at Instinet. only increase as Joor opens overseas offices. Staten Island Advance paper route. That After years of relentlessly attacking the big stock A Paris outpost launched earlier this made it a lot easier to keep track of who was exchanges with better technology, Mr. Harkins is now year, and London and Hong Kong are next. Blate in paying for deliveries. studying for an M.B.A. in finance and “So much of the capital [in the industry] gets put on the front of the He has since graduated from that primitive entrepreneurship at New York University. house, while the need to improve infrastructure isn’t top of mind,” said Commodore 64 to running U.S. markets at BATS, a “Being an entrepreneur is always fun and risky,” he said. Roopal Patel, a retail consultant and Joor advisory board member. “What stock exchange that has become one of the leading “But if you know your industry really well, you can Mona has done is bring it to the forefront by saying, ‘We’ve done your homework for places to trade, thanks to its enormous computing power. make educated guesses on where it’s going.” you; you just need to plug in.’ ” —adrianne pasquarelli The exchange has grown in just seven years to handle —aaron elstein

March 31, 2014 | Crain’s New York Business | 29 NEW YORK’S RISING STARS Thinking globally

JOSHUA KUSHNER, 28 Managing partner THRIVE CAPITAL

oshua Kushner started helping out at Kushner Cos. at age 15. Summer jobs at SL Green and Vor- Jnado continued the real estate scion’s grooming. But during his junior year at Har- U.S. government telecom policy specialist, she trotted around the world vard, Mr. Kushner got bitten by SARITA BHATT, 36 negotiating international access to the Internet and helping American the startup bug when he helped communications giants enter new markets. Nowadays, she helps global develop the popular Brazilian Director of global strategy, HAVAS WORLDWIDE brands such as Hershey’s and Unilever craft targeted marketing strategies. gaming site Vostu. His real estate “You can’t create a TV spot or a Web ad without understanding who you’re career was over. s a child of Indian immigrants, growing up in Connecticut, talking to,” Ms. Bhatt said. Her grasp of the transnational new world of The feeling of “building something Sarita Bhatt learned to live in two worlds, developing what social media helps Havas Worldwide—which last year made her the and having it reach millions of she calls a bicultural, global lens. “I was an American from 9 company’s first director of global strategy—win business. people” was intoxicating, he said. to 5, and an Indian from 5 to 9,” she said. The marketing firm, formerly Euro RSCG, is the largest unit of He also began investing in She also inherited a love of technology from her nuclear- Havas, a publicly traded, Paris-based holding company that had 2013 startups, and turned out to be Aengineer dad, who brought home a personal computer when Ms. Bhatt revenue of $2.4 billion. good at that, too. was 8.The programming languages Basic and MS-DOS became her “Sarita understands that the digital world is the real world,” said Chief Launching Thrive Capital in bridge between cultures, and got her thinking “how technology changes human Strategy Officer Tim Maleeny.“Something our digitally self-conscious 2010 with a $10 million fund, behavior,” she said. industry should have figured out a long time ago.” Mr. Kushner picked winners like Being a global early adopter worked in her favor. In her first job, as a —matthew flamm Warby Parker and Kickstarter. A year later, backers of Thrive’s $40 million fund included Princeton University; the win this time was t was after a trip to London that Joseph Einhorn decided to name Instagram, which Thrive invested his website Fancy.com, a nod to digging something—a rather in just days before Facebook JOSEPH British turn on the ubiquitous Internet act of “liking” an item. The bought it for $1 billion. No crowd-curated site reads a little like Pinterest, with one major dif- surprise that Thrive’s next fund Iference: buying power. “When we started, we just linked out, like other raised $150 million. EINHORN, 32 sites,” Mr. Einhorn said. “But people kept pushing to be able to put it all in What does Mr. Kushner look for? CEO, FANCY.COM a cart and buy it right there.” Companies that change people’s Mr. Einhorn obliged. Fancy.com ships merchandise from any site to lives. “There are a lot of things anywhere in the world, and provides same-day delivery in 100 cities, that don’t exist yet that will make including 40 outside the U.S. “In 2014, our goal is figuring out what the world a much better place,” people want and getting it to them faster than anyone else,” said Mr. he said. “Our ambitions are to Einhorn. find those.” Fancy.com appeals to what the native Thrive also builds its own: Mr. ‘Our goal is of Manhattan calls leading-edge Kushner’s biggest project right shoppers. High-end goods, a sleek now is the launch of a cutting- getting items aesthetic, convenience and still- edge health insurance company uncommon features like a Google Glass named Oscar, after his great- out faster shopping app and acceptance of Bitcoin grandfather. are pushing Fancy.com sales higher, and Mr. Kushner earns praise for than anyone’ keeping Mr. Einhorn busy. his work ethic—and his business “I came across the Fancy app and I smarts. “He’s got great ideas,” liked it,” said Ed Gilligan, American said Jeffrey Raider, co-founder of Express Co. president and a Fancy.com Warby Parker and shaving- board member. “It’s upscale and edgy. I was products startup Harry’s, another a user even before we were an investor.” Thrive portfolio company.“But Mr. Einhorn, a father of two who started his career at Capital IQ at age his ideas come from a really deep 16, calls Fancy “my dream project. It’s a combination of my personal understanding of the businesses he interests in design and culture and my experience in big data.” invests in.” —eva saviano —matthew flamm

30 | Crain’s New York Business | March 31, 2014 We’ve always known it. Now the world does, too.

Congratulations, Melissa Stevens, on being named one of Crain’s 40 Under Forty. Cheers to you and the entire Citi Digital Team on your innovations and accolades. We are proud to see your contributions being honored publicly.

Melissa Stevens Citi Head of Internet & Mobile Banking

USC4016 A.indd 1 ATTN PRINTER: 3/13/14 11:15 AM NEW YORK’S RISING STARS A rapid rise 40 to power FACTS Mobile choice JUSTIN iPhone STEFANO, 34 33 Co-CEO, REFINERY29

4 3 Android Blackberry

Social-media haunts JULISSA Facebook 30 FERRERAS, 37 Twitter EMMA 30 Member, NEW YORK LinkedIn CITY COUNCIL 29 WOLFE, 34 Instagram Director of 25 Pinterest intergovernmental affairs 8 CITY OF NEW YORK Snapchat 6 ne wouldn’t necessarily Tumblr peg Emma Wolfe, unassuming and soft- 4 spoken, as a political Ooperative. “I would certainly say I’m content to stay behind the scenes,” she said. But Ms. Wolfe Posting frequency has become one of the best in the city, playing a key role in Mayor Bill de Blasio’s successful campaign last year, 16 17 5 2 before landing a job as one of his Never Once 3-5 More than top advisers. a day times 10 times Her primary task thus far has a day a day. been trying to push Mr. de Blasio’s I share plan to implement universal everything! prekindergarten and after-school programs through the state Legislature, but she has had a hand in a number of decisions, ranging They watch TV via ... from reforming stop-and-frisk to expanding paid-sick-leave 15 13 ast Sept. 10, Julissa Ferreras won a a delegate to the 2000 Democratic National Convention. Democratic primary to serve a second She was chief of staff for former councilman and 10 term on the City Council.The next day, state Sen. Hiram Monserrate, who ran into ugly legal she gave birth to her first son, Julian. A trouble as Ms. Ferreras was running for his old seat. week later, Ms. Ferreras That kind of bad break can kill a Lwas back at work, wrangling for Balancing campaign, but Ms. Ferreras said her hundreds more units of affordable community work from the age of 2 housing in the long-stalled Willets her work on 15—such as helping at-risk youth DVR Online TV iPad Point development in her district. and immigrants—differentiated her. For the Queens councilwoman, the council Mr. Monserrate “had demons to the balancing act is par for the deal with, and for me, it was really course. “It’s beautiful,” she said. “I and caring about coming into this space and Where they read wouldn’t have it any other way.” proving that I came from his Ms. Ferreras’ rise has been rapid. for her baby camp—but I am not him,” Ms. Several savvy moves recently propelled Ferreras said. “I had my own 21 her to become the first woman and first is ‘beautiful’ identity, and my own structure.” person of color to chair the Finance “She has business sense and knows Committee, the chamber’s most how to get to ‘yes’ when it means jobs for 13 powerful. “It’s an amazing—I don’t her community and the city,” said know if ‘leap’ is the right word,” she Partnership for New York City 6 said, pausing. “Ascension.” President Kathryn Wylde. The native of Corona, Queens, started in politics as —chris bragg Print iPad Kindle

32 | Crain’s New York Business | March 31, 2014 ustin Stefano was exploring criminal law when he got the entrepreneurial itch. After evenings spent brainstorming at kitchen tables and coffee shops in Brooklyn, he co-founded style site Refinery29 in 2005 as a directory for hip retailers. J “We didn’t think we were creating a fashion site,” said Mr. Stefano, who was born in New York City but grew up in West Virginia. “It was really just a place to find unique, compelling things locally from independent retailers.” The site has since grown into a Web destination, featuring daily news posts on everything from lifestyle advice to fashion design.The company, which employs more than 130 people, generated $29 million in sales last year, mostly from advertising, a 75% leap over 2012. Much of the growth has come in recent years, as Mr. Stefano built credibility as a news source, though there have been disappointments— an e-commerce unit proved unsuccessful. Last year, Refinery29 moved into 30,000-square-foot digs in lower Manhattan, complete with a pingpong table. “It was a slow climb,” said the Brooklyn resident, who runs the firm with his business partner and former high-school classmate, Philippe von Borries. “If we had expanded into other categories sooner, we would have lost what made us special.” That uniqueness isn’t lost on investors: The company has attracted $30 million in funding. “In Silicon Valley, there’s this mistake that you have to be a jerk in order to succeed,” said Ann Miura-Ko, whose firm, Floodgate Fund, invested in Refinery29. “Justin and Philippe have found that you don’t need to have those qualities to be extraordinarily successful.” —adrianne pasquarelli

legislation. She is charged with leading the mayor’s efforts with the City Council and in Washington, D.C., as well as with overseeing his Community Affairs Unit—his eyes and ears across the city. Mr. de Blasio has called Ms. Wolfe one of his most indispensable aides: “There are very few minds I have ever met that can compete with Emma Wolfe when it comes to looking at the whole extraordinary dynamic of New York NOAH City and state … and making sense of it all. And [then] coming up with a clear plan of action and HELLER, 38 implementing it.” CEO, KATTEN MUCHIN In pushing the mayor’s agenda, ROSENMAN the Massachusetts native and Barnard College graduate employs the grassroots organizing skills she learned while working for defunct community group Acorn, health ood timing.”That’s Those who work with him care union 1199/SEIU and the Noah Heller’s explana- dismiss the theory that he was Working Families Party.“Certainly, tion of his ascent to merely in the right place at the I think the mayor’s agenda and vision chief executive of law right time.They point to his keen are the priorities of real New Yorkers, Gfirm Katten Muchin Rosenman understanding of people’s motivations, and implementing that agenda last year, becoming the youngest CEO coupled with deft business acumen. depends on engaging New Yorkers in the current Am Law 100. Peers “He puts himself in our shoes and in real grassroots organizing,” Ms. would beg to differ, but here’s his knows what I’m trying to Wolfe said. version: He grad- accomplish,” said —chris bragg uated from Ford- A calm private-equity ham Law School client Ian Sandler, in 2000 with no confidence COO of Carlyle job offers. But it Group’s Global hen Philippe Visser arrived at the Port Authority of New was the beginning that Market Strategies York and New Jersey in 2009 to spearhead its World Trade of the end for the division. “He sees Center redevelopment efforts, the project was mired in po- tech bubble, and ‘everything’s the trade in the litical infighting. “There were lots of gut-check moments,” the Securities and big picture.” saidW Mr. Visser. “We didn’t have a blueprint to get through all the politics.” Exchange Com- going to Mr. Heller What the Paris-born Columbia M.B.A. development executive did mission was credits his parents have, however, was 12 years of experience leading a series of ever-larger scrambling for work out’ —a high-school development and construction projects for three of the city’s top real estate lawyers for gym teacher and PHILIPPE firms: Forest City Ratner, Vornado Realty Trust and Tishman Speyer. mounting investi- a physical At the WTC, he quickly worked out an arrangement with Silverstein gations into secu- therapist—for his Properties, the Port Authority’s co-developer, to break a deadlock over how rities fraud and people skills and VISSER, 39 to develop the eastern side of the site. He followed up with two huge bankruptcies. willingness to take Senior vice president transactions that lifted the project onto firmer financial footing—the sale of “I’ve always had this confidence appropriate risks. the complex’s retail concourses for $1.4 billion, and an agreement for a 1.1 that everything’s going to work As a young CEO in a changing of development, million-square-foot office lease at 1 World Trade Center with Condé Nast. out,” Mr. Heller said. industry, he knows that Katten—a Hudson Yards “The three most critical deals all occurred under his leadership,” said Chris He gained niche expertise just 600-lawyer firm with 2013 Ward, former executive director of the Port Authority and today a as distressed-debt trading— revenue of nearly $506 million— RELATED COS. construction executive. buying and selling debts of has to try bold new strategies, Mr. Visser is now heading an even larger project: the building of 30 bankrupt companies—was some risky. But there’s that Hudson Yards, a 2.6 million-square-foot, 80-story tower that will be the growing. He moved to the private confidence again: “I’m not willing to largest and most prominent office skyscraper at Related’s 17 million- sector, facilitating those deals. fail often, but I am willing to fail in square-foot office, retail and residential development west of Penn Station. Soon, the financial crisis flooded order to learn,” he said. —daniel geiger the market with distressed debt. —hilary potkewitz

March 31, 2014 | Crain’s New York Business | 33 NEW YORK’S RISING STARS

Corp., Ms. Schutt oversees everything data, RACHEL SCHUTT, 37 including customer acquisition and advertising, and MATT may eventually work on efforts to create a Chief data scientist story-recommendation system, which will NEWS CORP. display stories based on past activity. SALZBERG, 30 She supervises 100 employees, including 30 CEO, BLUE APRON working on core accelerator projects. arvard Business Review recently Ms. Schutt spent a year teaching math to dubbed data scientist the sexiest job high-schoolers in San Jose, Calif., before att Salzberg has of the century. Rachel Schutt is moving to New York in 2002 to get her worked at top reaping the rewards. News Corp. last doctorate. She then worked in Google’s financial firms such Hyear tapped the statistician with a Ph.D. from research group, where she analyzed data for as Blackstone Columbia University to lead its efforts in that Google Plus, among other projects. MGroup and Bessemer Venture department. She published a book last year, Doing Data Partners. But one of his favorite “You used to think of the data analyst as that Science, and holds pending patents based on her jobs was doing the laundry: As person in the corner who was only called upon work in social networks, large data sets and an undergrad at Harvard, he when needed,” said Ms. Schutt, who joined machine learning. founded a successful student-run News Corp.—which last year was separated “Rachel speaks softly and carries a big laundry business. It wasn’t the from its entertainment empire, now dubbed stick,” said Andrew Gelman, a professor at most glamorous of fields, but for 21st Century Fox—to lead the publisher’s data Columbia and Ms. Schutt’s former adviser. the student with entrepreneurial efforts. “They were never a part of key decision “She’s not the type of person who wants to be getting aspirations, providing a service that making.” paid and not contributing to the world.” people needed stuck with him. Now they’re front and center. At News —emily laermer And people need to eat. So in 2012, he launched Blue Apron with partners Ilia Papas and chef Matt Wadiack. The online company makes cooking easy by delivering all the ingredients needed to prepare gourmet meals at home. In just Curing patient care a year and a half, Blue Apron has grown from shipping a few orders out of a kitchen in Long Island City, Queens, to delivering more than 400,000 meals a month nationwide. Sales reached $3 million monthly by the end of 2013, and the company is projecting revenue of at least $36 million in CYRUS 2014. It recently signed a lease in SoHo to expand its offices. Bob Goodman, Mr. Salzberg’s MASSOUMI, 37 former boss at Bessemer Venture Partners and an early investor in CEO, ZOCDOC Blue Apron, said Mr. Salzberg is “doing everything right. He’s hiring the right people; he’s motivating his employees. Blue Apron, I think, will be a billion- dollar company.” Mr. Salzberg, an avid scuba diver, says he wants to impart a love of cooking to his customers. “Chefs around the world wear blue aprons when they are learning to cook,” he said. “It’s the symbol of what we stand for.” —jen geller

all-mounted screens that blink key metrics, wooden Kharraz, ZocDoc’s chief operating officer. signs emblazoned with core values, bountiful awards— Investors have plowed $95 million into ZocDoc, funding expansion the very decor at ZocDoc telegraphs and a staff of 500. Mr. Massoumi strives to keep the feel the company’s devotion to its of a startup—ZocDoc has been on Crain’s Best Places to Work customers. One picture, though, Investors have list for four years in a row—making even new workers take testifiesW to the genius of founder Cyrus Massoumi. ownership of the mission to please customers. About As a fifth-grader in Florida, he made the computer- plowed $95M 93% of their emails are answered in one hour, and 77% generated sign for the office of his father, a hand of their phone calls are answered on one ring. “We’re a surgeon. It reads: “Two Broken Hands Fixed for the into ZocDoc, very quantitative company,” he said. Price of One.” Nearly every profile of Mr. Massoumi relates how he Savvy marketing is a ZocDoc hallmark. “We should funding was inspired to found ZocDoc after rupturing an always be creating,” said Mr. Massoumi, who in 2007 eardrum and waiting four days to get an appointment. built his company around the concept of making expansion In truth, he is a self-declared “accident-prone medical appointments easy to book. Now some 4 hypochondriac” who tore his eardrum a second time— million patients a month use ZocDoc’s technology. and staff by colliding with someone’s elbow while diving after a “Cyrus’ No. 1 quality is his passion. It’s hard to imagine football.That time, he booked a physician through anyone with more energy or drive,” said Dr. Oliver ZocDoc. —barbara benson

34 | Crain’s New York Business | March 31, 2014

NEW YORK’S RISING STARS

The flavor JESSAMYN DID YOU KNOW ... RODRIGUEZ, BRYAN HARKINS and his fiancée competed in and then got married at the 37 end of the Lake Placid Ironman in 2010. of success JILL EISENHARD was the 1989 New York CEO, HOT BREAD State Junior Horticulture champion. KITCHEN JUSTIN STEFANO was an investigator for fter years of traveling the city, probing allegations against NYPD officers. the world and working SARITA BHATT can play the sitar, tabla, drums, bass and guitar. for Amnesty Interna- tional and the United SAVNEET SINGH used to raise and breed Japanese koi. ANations, Jessamyn Rodriguez TONY HAILE said he has smuggled explosives through never imagined that she’d end up London Heathrow airport and people through Middle working behind industrial ovens Eastern military patrols. in New York City. But at Hot Bread Kitchen, she married her JULISSA FERRERAS’ morning ritual includes meditation followed by self- passion for social justice with her tal- affirmations. She then drives to City Hall blasting music from Sinatra to ent for baking. The incubator she Beyoncé. launched from her Brooklyn apartment in 2008 teaches im- CYRUS MASSOUMI, in fourth grade, won a stand- migrant women how to bake, up comedy competition at Chuck E. Cheese. speak English and parlay their CATHERINE SCHUMACHER and her college skills into a job. roommates were followed by a reporter for The “I never considered a Boston Globe for a Real World-type look at college culinary career,” said Ms. Rodriguez, “but I have always life. been attracted to the food JESSAMYN RODRIGUEZ was once Canada’s youth land-mine ambassador, culture in other countries. And spending a year in Bosnia visiting de-mining operations. throughout my professional career, there has been this ribbon of LAURA LEE moonlighted as a funk/soul singer when she immigrant rights.” was an investment banker. Today, the nonprofit operates MARC GLOSSERMAN’s first summer job was at out of La Marqueta, a city- Domino’s Pizza when he was 16. He dressed up as its owned market in Spanish mascot in 90-degree heat, waving at passing cars from Harlem. It has trained dozens of women and generates more than the street. $3 million in revenue from MELISSA STEVENS once helped deliver a calf on a customers such as Whole Foods, Michigan dairy farm owned by her husband’s relatives. Dean & DeLuca and the Plaza Food Hall.The incubator also EMMA WOLFE has a twin sister named Isadora who performs in rents space to 45 startups. the interactive hit show Sleep No More in Chelsea. “Jessamyn is an entrepreneur JEFFREY ROTH worked as a professional just like any of those in the magician in college at restaurants and privately held companies that I private parties. back,” said Joanne Wilson, an MARC angel investor in some 50 JASON WANG spent most of his time break-dancing companies and chairman of and choreographing moves during college. GLOSSERMAN, 39 Hot Bread’s board. “She has evolved tremendously over the past JOSHUA KUSHNER was held up at gunpoint in CEO, HILL COUNTRY several years.” Guatemala. HOSPITALITY The Toronto native landed in PHILIPPE VISSER’s Dutch father survived the Holocaust New York in 2002, earning a in hiding, and his wife’s Dutch mother is also a survivor. master’s degree in public “So my kids are half-Dutch and the product of a lot of luck administration from Columbia and good fortune to be in America,” he said. n opening night of It smokes all its meat in-house, University. She received the 2013 Marc Glosserman’s and live music is regularly Global Citizen Award from the DOMINIQUE ANSEL got a near-perfect score on computer simulation tests first restaurant, Hill scheduled. Clinton Global Initiative, while during his stint in the French Army, which tried to recruit him for the Country Barbecue A former telecom entrepreneur the Tory Burch Foundation in special forces. Market, his wife, who sold his company because it May named Ms. Rodriguez a OKristen, went into labor with wasn’t his calling, Mr. Glosserman “woman to watch.” MATT SALZBERG owns one of the largest collections of hand- their first child. “I took a deep was inspired to bring authentic —lisa fickenscher painted, original artwork from computer adventure games of the early breath, told my operating partner, Lone Star State cuisine to New 1990s. ‘The show must go on—good York by his Texan grandparents, RACHEL SCHUTT said one of her favorite jobs was luck,’ and went home,” said Mr. whom he visited during vacations. working in a day-care facility, taking care of 2-year- Glosserman. “It was a good omen for “I always romanticized Texas,” the restaurant. But also a metaphor said Mr. Glosserman, who grew olds. She enjoyed reading them stories and helping for the crazy ride I’ve been on up in Bethesda, Md. them fall asleep during naptime. since I decided to open it.” In 2004, he enrolled in J.R. RIZZO owns a rescue German shepherd named Fiona and plans to Seven years later, there are Columbia University’s M.B.A. adopt a minimum of six more over the next few years. two more Hill Country program and wrote a business Barbecue Markets—in Brooklyn plan for his first restaurant, which KARA MEDOFF BARNETT and her 4-year-old and in Washington, D.C.—as won a prestigious Eugene Lang daughter are obsessed with sports, especially New well as two Hill Country grant from the university. York Giants football and Duke basketball. Chicken restaurants and a mail- “He is the next Danny Meyer in the SHOLA OLATOYE, raised in a religious order business, Hill Country Pie city,” said his childhood friend Kitchen, which generated a Michael Lazerow, chief household, gave her first speech at age 5 combined $24 million in sales marketing officer of Salesforce to her congregation. “I don’t remember what I talked last year. Marketing Cloud, and an about,” she said, “but my shoes were black patent-leather The Texas-style eateries have investor in all the restaurants. “I Mary Janes.” received effusive praise, including just double down on Marc JOSEPH EINHORN recently capsized in a catamaran with the Market’s being named one of because he’s honest and his wife and children. “That was pretty crazy,” he said. the top 10 barbecue joints in the hardworking.”

country by The Wall Street Journal. —lisa fickenscher getty images, istock

36 | Crain’s New York Business | March 31, 2014

TO PLACE A CLASSIFIED AD CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM GOETHALS BRIDGE REPLACEMENT PROJECT PUBLIC & LEGAL NOTICES Notice of Qualification of IH4 PROPERTY Notice of Qualification of AEF Notice of Qualification of TASHTEGO Goethals Bridge – Construction Partnering Opportunities FLORIDA, L.P. Authority filed with Secy. RESEARCH ASSOCIATES, LLC. CAPITAL PARTNERS, L.P. Authority of State of NY (SSNY) on 02/05/14. Authority filed with Secy. of State of NY filed with Secy. of State of NY (SSNY) The Goethals Bridge Replacement Project is a design-build project for the Port Authority of Office location: NY County. LP formed (SSNY) on 02/27/14. Office location: on 03/03/14. Office location: NY New York & New Jersey (the Authority). The project will replace the existing Goethals Bridge in Delaware (DE) on 01/10/14. Princ. NY County. LLC formed in Delaware County. LP formed in Delaware (DE) on which spans the Arthur Kill River on I-278 connecting Elizabeth, New Jersey and Staten Island, office of LP: 345 Park Ave., NY, NY (DE) on 02/20/14. Princ. office of LLC: 02/18/14. SSNY designated as agent New York. The existing bridge, built in the 1920s, will be replaced with dual bridges and 10154. SSNY designated as agent of 888 Seventh Ave., 42nd Fl., NY, NY of LP upon whom process against it the original bridge demolished. It is anticipated that the two new spans will carry approximately LP upon whom process against it may 10019. SSNY designated as agent of may be served. SSNY shall mail 14 million vehicles annually. be served. SSNY shall mail process LLC upon whom process against it may process to David Halliwill, 410 Park Kiewit-Weeks-Massman, AJV (KWM) has been selected by the Authority to design and build the to Corporation Service Co. (CSC), 80 be served. SSNY shall mail process Ave., Ste. 530, NY, NY 10022. Name new Goethals Bridge. KWM is committed to providing a world class project to the people of New State St., Albany, NY 12207-2543. to c/o Corporation Service Co. (CSC), and addr. of each general partner are York and New Jersey. As part of their mission, KWM is also committed to providing meaningful Name and addr. of each general 80 State St., Albany, NY 12207-2543. available from SSNY. DE addr. of LP: employment opportunities for hundreds of construction individuals in the region, with particular partner are available from SSNY. DE DE addr. of LLC: CSC, 2711 c/o Corporation Service Co., 2711 outreach to the DBE community, and desires to meet or exceed federal requirements for diversity addr. of LP: c/o CSC, 2711 Centerville Centerville Rd., Ste. 400, Wilmington, Centerville Rd., Wilmington, DE 19808. on this important construction project. If your DBE firm would like to apply to participate in Rd., Ste. 400, Wilmington, DE 19808. DE 19808. Arts. of Org. filed with Secy. Arts. of Org. filed with DE Secy. of this project, please use our website as a resource, www.goethals-kwm.com. Arts. of Org. filed with DE Secy. of of State of DE, John G. Townsend Bldg., State, 401 Federal St., Dover, DE Partnering Opportunities State, John G. Townsend Bldg., 401 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity. Federal St., Ste. 4, Dover, DE 19901. 19901. Purpose: Any lawful activity. Concrete, Masonry, and Paving, Design/Consulting, Electrical Work/Utilities, Fencing and Purpose: Any lawful activity. NOTICE OF FORMATION OF NY Shine Railings, Maintenance of Traffic, Marine Services, Miscellaneous Building and Bridge Demolition, Notice of Formation of ESHGM 2014, LLC. Arts of Org filed with Secy of Quality Control, Services and Supplies, Surveying, Trucking, ...And many more! Notice of Formation of NFF New LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/21/13. Markets Fund XXXIV, LLC. Arts. of State of NY (SSNY) on 03/12/14. Office location: NY County. SSNY Diversity Contract Manager, Org. filed with NY Dept. of State on Office location: NY County. SSNY designated agent upon whom process 470 Chestnut Ridge Road, 2/24/14. Office location: NY County. designated as agent of LLC upon whom may be served and shall mail copy of Woodcliff Lake, NJ 07677 Sec. of State designated agent of process against it may be served. process against LLC to: Northwest (201) 571-2571 LLC upon whom process against it SSNY shall mail process to the LLC, Registered Agent, 90 State St, Ste 700, [email protected] may be served and shall mail One Morton Sq., Apt. 9CW, NY, NY Office 40, Albany, NY 12207. Principal Kiewit-Weeks-Massman, AJV is process to: Nonprofit Finance Fund, 10014. Purpose: Any lawful activity. business address: 29 King St, Apt 1d, An Equal Opportunity Employer 70 W. 36th St., 11th Fl., NY, NY NY, NY 10014. Purpose: any lawful act. 10018, principal business address. Notice of Formation of Sunset Park Purpose: any lawful activity. Debt LLC, Art. of Org. filed Sec'y of Notice of Formation: The Law Office State (SSNY) 12/11/13. Office location: of Poorvi Chothani PLLC Arts. of Org. Notice of Formation of CARLO BIGI NY County. SSNY designated as agent filed with SSNY 2/14/2014. Off. Loc.: REQUEST FOR PUBLIC & EXECUTIVE CHEF, LLC. Arts. of Org. of LLC upon whom process against it New York Cnty. SSNY designated as filed with Secy. of State of NY may be served. SSNY shall mail copy agent of LLC whom process may be QUALIFICATIONS LEGAL NOTICES (SSNY) on 01/08/14. Office location: of process to Bluestone Group, 225 served. SSNY shall mail process to: NY County. SSNY designated as c/o the LLC, 244 Madison Ave., Suite THE WILDLIFE CONSERVATION SOCIETY Broadway, 32nd Fl., NY, NY 10007. Notice of Qualification of CREDIT agent of LLC upon whom process 2350, New York, NY 10016. Purpose: Request for Qualifications Purpose: any lawful activities. SUISSE NEXT INVESTORS, LLC. against it may be served. SSNY shall all lawful activities. The Wildlife Conservation Society (WCS) Authority filed with Secy. of State of NY mail process to Corporation Service NOTICE OF QUALIFICATION of 33 is seeking qualified firms to provide full NOTICE OF FORMATION OF CITY (SSNY) on 02/24/14. Office location: Co., 80 State St., Albany, NY 12207, Peck Slip Holding LLC. Authority Architectural and Engineering services HALL MEDICAL SUPPLIES, L.L.C. Arts NY County. LLC formed in Delaware regd. agent upon whom and at filed with Secy of State of NY (SSNY) for the post- Sandy restoration of the of Org filed with Secy of State of NY (DE) on 09/20/13. Princ. office of LLC: which process may be served. on 2/18/14. Office location: NY County. New York Aquarium (NYA). A mandatory (SSNY) on 11/15/13. Office location: 11 Madison Ave., NY, NY 10010. SSNY Purpose: Any lawful activity. LLC formed in DE on 11/15/13. site visit will take place at 10:00 AM on NY County. SSNY designated agent designated as agent of LLC upon whom SSNY designated agent upon whom April 7, 2014. Qualifications are due upon whom process may be served process against it may be served. SSNY Notice of Qual. of Agosto I Capital, LLC, process may be served and shall by 5:00 PM on April 14, 2014. Small and shall mail copy of process shall mail process to the LLC at the Auth. filed Sec'y of State (SSNY) mail copy of process against LLC to: and minority businesses and women’s against LLC to principal business princ. office of the LLC. DE addr. of 7/11/13. Office loc.: NY County. LLC c/o CSC, 80 State St, Albany, NY business enterprises are encouraged to address: 281 Broadway, 2nd Flr, NY, LLC: c/o Corporation Service Co., 2711 org. in DE 7/10/13. SSNY desig. as 12207-2543. Principal business apply. NY 10007. Purp.: any lawful act. Centerville Rd., Ste. 400, Wilmington, agent of LLC upon whom process address: c/o CSC, 2711 Centerville The RFQ is available online at DE 19808. Arts. of Org. filed with DE against it may be served. SSNY shall ftp://ftp.wcs.org, User name: publicftp Rd, Ste 400, Wilmington, DE 19808. Notice of Formation of Alamar Secy. of State, Div. of Corps., John mail copy of proc. to Att: Ed Bosek, Certif. of LLC filed with Secy of State Password: Gorilla# G. Townsend Bldg., 401 Federal St. - 1330 Ave of the Americas, 6th Fl., NY, Entertainment LLC. Arts. of Org. filed Click on Public folder of DE: 401 Federal St, Ste 4, Dover, with Secy. of State of NY (SSNY) on Ste. 4, Dover, DE 19901. Purpose: NY 10019. DE off. addr.: CSC, 2711 DE 19901. Purpose: any lawful act. Open the NYA RFQ - Restoration of the This entity will make investments. Centerville Rd., Wilmington, DE 2/18/14. Office location: NY County. New York Aquarium folder SSNY designated as agent of LLC 19808. Cert. of Form. on file: SSDE, NOTICE OF QUALIFICATION of 33 If you have technical problems access- NOTICE OF FORMATION OF HUDSON upon whom process against it may Townsend Bldg., Dover, DE 19901. Peck Slip Acquisition LLC. Authority ing the documents online, email us at SURGICARE, L.L.C. Arts of Org filed be served. SSNY shall mail process Purp.: any lawful activities. filed with Secy of State of NY (SSNY) [email protected] for assistance. Your with Secy of State of NY (SSNY) on to: c/o Levinsohn Associates, P.C., on 2/18/14. Office location: NY County. email should include your firm name, 12/26/13. Office location: NY County. 1325 Avenue of the Americas, Floor NOTICE OF FORMATION OF Triangle LLC formed in DE on 11/6/13. SSNY email address, contact person and tele- SSNY designated agent upon whom 27, New York, NY 10019. Purpose: J Fund I LLC. Arts of Org filed with designated agent upon whom process phone number. process may be served and shall Secy of State of NY (SSNY) on any lawful activity. mail copy of process against LLC to may be served and shall mail copy of 2/20/14. Office location: NY County. process against LLC to: c/o CSC, 80 principal business address: 281 SSNY designated agent upon whom NOTICE OF QUALIFICATION of Broadway, 2nd Flr, NY, NY 10007. State St, Albany, NY 12207-2543. Take-2-Productions, L.L.C. Authority process may be served and shall mail Principal business address: c/o CSC, PUBLIC & Purp.: any lawful act. copy of process against LLC to: c/o filed with Secy of State of NY (SSNY) 2711 Centerville Rd, Ste 400, on 1/31/14. Office location: NY County. JD Stettin, 152 W. 57th St, Flr 53, NY, Wilmington, DE 19808. Certif. of LLC LEGAL NOTICES Notice of Formation of NFF New NY 10019. Principal business LLC formed in MO on 8/5/1998. SSNY Markets Fund XXXV, LLC. Arts. of filed with Secy of State of DE: 401 designated agent upon whom process address: 259 W 70th St, #2R, NY, NY Federal St, Ste 4, Dover, DE 19901. Notice of Formation of Quik Park Org. filed with NY Dept. of State on 10023. Purpose: any lawful act. may be served and shall mail copy of Morton LLC. Arts. of Org. filed with 2/24/14. Office location: NY County. Purpose: any lawful act. process against LLC to principal Secy. of State of NY (SSNY) on Sec. of State designated agent of NOTICE OF FORMATION OF VALRIC business address: 1906 Wyandotte, 2/24/14. Office location: NY County. LLC upon whom process against it LLC. VALRIC LLC is a consulting Notice of Formation of LSG Batting Kansas City, MO 64108. Cert. of LLC SSNY designated as agent of LLC may be served and shall mail company providing its expertise in the Cages, LLC. Arts of Org filed with filed with Secy of State of MO: 600 upon whom process against it may process to: Nonprofit Finance Fund, fields of Arts and Education. Arts of Secy of State of NY (SSNY) on West Main St, Jefferson City, MO be served. SSNY shall mail process 70 W. 36th St., 11th Fl., NY, NY Org filed with Secy of State of NY 10/1/2012. Office location: New York 65101. Purpose: any lawful act. to: The LLC, 247 W. 37th St., NY, NY 10018, principal business address. (SSNY) on 12/27/13. Office location: County. SSNY designated as agent of Notice of Qual. of Alpha4X Onshore 10018. Purpose: any lawful purpose. Purpose: any lawful activity. NY County. SSNY designated agent LLC upon whom process against it may upon whom process may be served be served. SSNY shall mail process Feeder Fund LP, Auth. filed Sec'y of Notice of Formation of 122 Owners NOTICE OF FORMATION OF AJ City and shall mail copy of process against to: The LLC, 270 Broadway, Apartment State (SSNY) 5/2/13. Office loc.: NY LLC. Arts. of Org. filed with Secy. of Property LLC. Arts of Org filed with LLC to principal business address: 26BT, New York, NY 10007. Cty. LP org. in DE 4/30/13. SSNY State of NY (SSNY) on 2/26/14. Office Secy of State of NY (SSNY) on 484 West 43rd Street, NY, NY 10036. Purpose: Any lawful purpose. desig. as agent of LP upon whom location: NY County. SSNY designated 1/16/14. Office location: NY County. process against it may be served. as agent of LLC upon whom process SSNY designated agent upon whom MAGUS ENERGY, LLC, Authority BX PROPERTIES MANAGERS LLC, SSNY shall mail copy of proc. to Att: against it may be served. SSNY shall process may be served and shall filed with SSNY on 12/31/13. Office a domestic LLC, filed with the SSNY Manuel Mejia-Aoun, 1040 Ave of the mail process to: c/o Office of mail copy of process against LLC to: loc: NY Co. LLC formed in Delaware on 2/19/14. Office location: New York Americas, NY, NY 10018. DE off. addr.: Lawrence E. Fabian, Esq., 437 Fifth 247 W. 38th St, Ste. 404, NY, NY (DE) on 11/20/13. SSNY designated County. SSNY is designated as CSC, 2711 Centerville Rd., Wilmington, Ave., Ste. 801, New York, NY 10016. 10018. Principal business address: as agent of LLC upon whom process agent upon whom process against DE 19808. Cert. of LP on file: SSDE, Purpose: any lawful activity. 419 W. 145th St, NY, NY 10031. against it may be served. SSNY shall the LLC may be served. SSNY shall Townsend Bldg., Dover, DE 19901. Purpose: any lawful act. mail process to: 523 Broadway, 4th mail process to The LLC, c/o Yuco Name/addr. of each gen. ptr. avail. at Notice of Qualification of CM Fl, NY, NY 10012. DE address: 341 Management, 200 Park Ave., 11th SSNY. Purp.: any lawful activities. Investment Partners LLC. Fictitious Notice of Qualification of Lexin NY 229 Raven Circle, Wyoming, DE 19934. Fl., NY, NY 10166. General Purpose. Name: CMIP LLC. Authority filed LLC. Authority filed with NY Dept. of Cert. of LLC filed with DE Secy of Notice of Qualification of Schireson with Secy. of State of NY (SSNY) on State on 2/18/14. Office location: NY State: PO Box 898, Dover, DE 19903. Notice of Qualification of Ampere Associates, LLC. Fictitious Name: 2/12/14. Office location: New York County. Princ. bus. addr.: c/o Lexin Purpose: any lawful act. Solar Manager III, LLC. Authority filed Schireson Associates, LLC, of County. LLC formed in Delaware (DE) Capital, LLC, 654 Madison Ave., Ste. with Secy. of State of NY (SSNY) on Delaware. Authority filed with Secy. of on 7/25/13. SSNY designated as 2205, NY, NY 10065, Attn: Metin Notice of Qual. of Alpha4X Participation 3/10/14. Office location: New York State of NY (SSNY) on 2/25/14. Office agent of LLC upon whom process Negrin. LLC formed in DE on LLC, Auth. filed Sec'y of State (SSNY) County. LLC formed in Delaware (DE) location: New York County. LLC against it may be served. SSNY shall 12/13/13. NY Sec. of State designated 5/14/13. Office loc.: NY County. LLC on 3/4/14. SSNY designated as agent formed in Delaware (DE) on 1/29/14. mail process to: c/o National Registered agent of LLC upon whom process org. in DE 2/12/13. SSNY desig. as of LLC upon whom process against SSNY designated as agent of LLC Agents, Inc., 111 Eighth Ave., NY, NY against it may be served and shall agent of LLC upon whom process it may be served. SSNY shall mail upon whom process against it may be 10011, also the registered agent. mail process to: CT Corporation against it may be served. SSNY shall process to: c/o Corporation Service served. SSNY shall mail process to: Address to be maintained in DE: c/o System, 111 8th Ave., NY, NY 10011. mail copy of proc. to Att: Manuel Company, 80 State St., Albany, NY 3 Columbus Circle, 22nd Fl., NY, NY National Registered Agents, Inc., 160 DE addr. of LLC: c/o The Corporation Mejia-Aoun, 1040 Ave of the Americas, 12207-2543. Address to be maintained 10019. Address to be maintained in Greentree Dr., Ste. 101, Dover, DE Trust Co., 1209 Orange St., NY, NY 10018. DE off. addr.: CSC, in DE: 2711 Centerville Rd., Ste. 400, DE: 160 Greentree Dr., Ste. 101, 19904. Arts of Org. filed with the DE Wilmington, DE 19801. Cert. of Form. 2711 Centerville Rd., Wilmington, DE Wilmington, DE 19808. Arts of Org. Dover, DE 19904. Arts of Org. filed Secy. of State, Loockerman & filed with DE Sec. of State, 401 19808. Cert. of Form. on file: SSDE, filed with the DE Secy. of State, 401 with the DE Secy. of State, 401 Federal St., Dover, DE 19901. Federal St., Dover, DE 19901. Townsend Bldg., Dover, DE 19901. Federal St., Dover, DE 19901. Federal St., Ste. 4, Dover, DE 19901. Purpose: any lawful activities. Purpose: all lawful purposes. Purp.: any lawful activities. Purpose: any lawful activities. Purpose: any lawful activities.

38 | Crain’s New York Business | March 31, 2014 TO PLACE A CLASSIFIED AD CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of LYRIC Notice of Qualification of WINMILL Notice of Qualification of TP-HF Notice of Qualification of TASHTEGO Notice of Qualification of IH4 PROPERTY THEATRE, LLC. Authority filed with REALTY MANAGEMENT LLC. Acquisition, LLC. Authority filed with MANAGEMENT COMPANY LLC. ILLINOIS, L.P. Authority filed with Secy. Secy. of State of NY (SSNY) on Authority filed with Secy. of State of NY NY Dept. of State on 10/24/13. Office Authority filed with Secy. of State of NY of State of NY (SSNY) on 02/05/14. 04/26/13. Office location: NY County. (SSNY) on 02/14/14. Office location: location: NY County. LLC formed in (SSNY) on 03/03/14. Office location: Office location: NY County. LP formed LLC formed in Delaware (DE) on NY County. LLC formed in Delaware DE on 3/19/13. NY Sec. of State NY County. LLC formed in Delaware in Delaware (DE) on 01/10/14. Princ. 04/11/13. NYS fictitious name: LYRIC (DE) on 02/07/14. SSNY designated designated agent of LLC upon whom (DE) on 02/18/14. SSNY designated office of LP: 345 Park Ave., NY, NY BROADWAY, LLC. SSNY designated as agent of LLC upon whom process process against it may be served and as agent of LLC upon whom process 10154. SSNY designated as agent of as agent of LLC upon whom process against it may be served. SSNY shall shall mail process to the principal against it may be served. SSNY shall LP upon whom process against it may against it may be served. SSNY shall mail process to c/o Corporation business addr.: 280 Park Ave., 41st mail process to David Halliwill, 410 be served. SSNY shall mail process mail process to c/o Herrick, Feinstein Service Co., 80 State St., Albany, NY Fl., NY, NY 10017. DE addr. of LLC: Park Ave., Ste. 530, NY, NY 10022. to Corporation Service Co. (CSC), 80 LLP, Attn: J. Rogers, 2 Park Ave., NY, 12207-2543. DE addr. of LLC: 2711 Corporation Service Co., 2711 DE addr. of LLC: c/o Corporation State St., Albany, NY 12207-2543. NY 10016. DE addr. of LLC: c/o Centerville Rd., Ste. 400, Wilmington, Centerville Rd., Ste. 400, Wilmington, Service Co., 2711 Centerville Rd., Name and addr. of each general National Registered Agents, Inc., 160 DE 19808. Arts. of Org. filed with DE DE 19808. Cert. of Form. filed with DE Wilmington, DE 19808. Arts. of Org. partner are available from SSNY. DE Greentree Dr., Ste. 101, Dover, DE Secy. of State, John G. Townsend Bldg., Sec. of State, Townsend Bldg., Dover, filed with DE Secy. of State, 401 addr. of LP: c/o CSC, 2711 Centerville 19904. Arts. of Org. filed with Jeffrey 401 Federal St., Ste. 4, Dover, DE DE 19901. Purpose: any lawful activity. Federal St., Dover, DE 19901. Rd., Ste. 400, Wilmington, DE 19808. W. Bullock, DE Secy. of State, 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. Arts. of Org. filed with DE Secy. of Townsend Bldg., 401 Federal St., Notice of Qual. of Rhone Music State, John G. Townsend Bldg., 401 Ste. 3, Dover, DE 19901. As amend- NOTICE OF FORMATION OF LIMITED Holdings, LLC, Auth. filed Sec'y of NOTICE OF FORMATION of Shubert Federal St., Ste. 4, Dover, DE 19901. ed by Cert. of Amendment filed with LIABILITY COMPANY. NAME: NRZS State (SSNY) 10/15/13. Office loc.: NY and Booth Cumming, LLC. Arts. Of Purpose: Any lawful activity. SSNY on 06/28/13, the addr. of the REALTY ASSOCIATES, LLC. Articles County. LLC org. in DE 2/16/12. SSNY Org. filed with NY Dept. of State on principal place of business of the of Organization were filed with the desig. as agent of LLC upon whom 3/5/14. Office location: NY County. NOTICE OF FORMATION OF LLC is: 214 W. 43rd St., NY, NY Secretary of State of New York (SSNY) process against it may be served. Sec. of State designated agent of LLC SHRINATHJI KRUPA LLC. Arts of Org 10036. Purpose: Any lawful activity. on 02/19/14. Office location: New York SSNY shall mail copy of proc. to 250 upon whom process against it may filed with Secy of State of NY (SSNY) County. SSNY has been designated West St., Apt. 6D, NY, NY 10013. DE be served and shall mail process to: on 10/31/13. Office location: NY Formation of Hannah Blumenthal as agent of the LLC upon whom off. addr.: 160 Greentree Dr., Ste. 101, c/o Gilbert Hoover, IV, The Shubert County. SSNY designated agent upon Design, LLC filed with the Secy. of process against it may be served. Dover, DE 19904. Cert. of Form. on Organization, Inc., 234 W. 44th St., whom process may be served and State of NY (SSNY) on 12/17/13. SSNY shall mail a copy of process to file: SSDE, Townsend Bldg., Dover, DE NY, NY 10036, principal business shall mail copy of process against Office loc.: New York County. SSNY the LLC, c/o Naeem Khan, Ltd., 260 19901. Purp.: any lawful activities. address. Purpose: any lawful activity. LLC to principal business address: designated as agent of LLC upon W. 36th Street, Floor 10, New York, Hemal Sheth, 238 Lafayette St., NY, whom process against it may be New York 10018. Purpose: For any NOTICE OF FORMATION of Notice of Formation of Bad Boy NY 10012. Purpose: any lawful act. served. The principal business loc. lawful purpose. RIVERSIDE 16B LLC. Arts of Org. Productions OpCo LLC. Arts. of Org. and address SSNY shall mail filed with NY Secy of State (SSNY) filed with Secy. of State of NY (SSNY) THE LAW OFFICE OF GRISEL process to is 175 Varick St., 8th Fl., NOTICE OF FORMATION OF on 12/04/2013. Office location: on 03/13/14. Office location: NY BLANCO-OBREGON, LLC, a domestic New York, NY 10014. Mgmt. shall KRAVCHUK & DIPAOLO METALWORKS New York County. SSNY is desig- County. Princ. office of LLC: 1710 PLLC, Arts. of Org. filed with the SSNY be by one or more members. LLC. Arts of Org filed with Secy of nated as agent of LLC upon whom Broadway, NY, NY 10019. SSNY on 12/12/13. Office location: New York Purpose: Any lawful activity. State of NY (SSNY) on 1/8/14. Office process against it may be served. designated as agent of LLC upon whom County. SSNY is designated as agent location: NY County. SSNY designated SSNY shall mail process to: 322 process against it may be served. upon whom process against the PLLC 529 PARK, LLC, a domestic LLC, agent upon whom process may be West 57th Street, Suite 53H2, New SSNY shall mail process to may be served. SSNY shall mail filed with the SSNY on 12/24/13. served and shall mail copy of process York, NY 10019: any lawful activity. Corporation Service Co., 80 State process to: The LLC, 221 E. 89th St., Office location: New York County. against LLC to principal business St., Albany, NY 12207-2543. #1A, NY, NY 10128. Purpose: Law. SSNY is designated as agent upon address: 99 READE ST, 7W NY NY NOTICE OF FORMATION OF Jupiter Purpose: Any lawful activity. whom process against the LLC may 10013. Purpose: any lawful act. Highway, LLC. Arts of Org filed with CARLYLE CAR PARK, LLC, a domestic be served. SSNY shall mail process Secy of State of NY (SSNY) on Notice of Formation of Bad Boy LLC, filed with the SSNY on 1/30/14. to The LLC, 20 Renwick St., NY, NY NOTICE OF FORMATION OF Phillips 1/17/14. Office location: NY County. Touring OpCo LLC. Arts. of Org. filed Office location: New York County. 10013. General Purpose. & Pfau, LLP. Arts of Org filed with SSNY designated agent upon whom with Secy. of State of NY (SSNY) on SSNY is designated as agent upon Secy of State of NY (SSNY) on process may be served and shall 03/13/14. Office location: NY County. whom process against the LLC may be NOTICE OF FORMATION OF 225 11/7/13. Office location: NY County. mail copy of process against LLC to Princ. office of LLC: 1710 Broadway, served. SSNY shall mail process to BOWERY HOLDINGS II LLC. Arts of SSNY designated agent upon whom principal business address: 150 West NY, NY 10019. SSNY designated as GGMC Parking, LLC, Attn: Andrew Org filed with Secy of State of NY process may be served and shall 28th St, Ste 402, NY NY 10001. agent of LLC upon whom process Grossman, 1651 3rd Ave., Rm. 307, NY, (SSNY) on 2/13/14. Office location: NY mail copy of process against LLP to Purpose: any lawful act. against it may be served. SSNY shall NY 10128-3679. General Purpose. County. SSNY designated agent upon principal business address: 817 mail process to Corporation Service whom process may be served and Broadway, 10th Floor, NY, NY 10003. NOTICE OF FORMATION OF Pipsticks Co., 80 State St., Albany, NY 12207- Notice of formation of 163 Bleecker shall mail copy of process against Purpose: practice of law. LLC. Arts of Org filed with Secy of 2543. Purpose: Any lawful activity. Street, LLC. Arts of Org filed with Secy LLC to principal business address: State of NY (SSNY) on 2/7/14. Office of State of NY (SSNY) on 2/7/14. 260 Madison AV, Ste 204, NY, NY NOTICE OF FORMATION OF BUTLER location: NY County. SSNY designated Notice of Formation of PARK Office location: NY County. SSNY has 10016. Purpose: any lawful act. RIDE, LLC. Arts of Org filed with agent upon whom process may be CHOCOLATE 275 LLC. Arts. of Org. been designated as agent of the LLC Secy of State of NY (SSNY) on served and shall mail copy of process filed with Secy. of State of NY upon whom process against it may NOTICE OF FORMATION OF LIMITED 2/6/14. Office location: NY County. against LLC to: Northwest Registered (SSNY) on 02/28/14. Office location: be served. SSNY shall mail process LIABILITY COMPANY. NAME: GL SSNY designated agent upon whom Agent, 90 State St, Ste 700, Office 40, NY County. Princ. office of LLC: c/o served to: 1500 Broadway, 22nd, NY, HOSPITALITY GROUP, LLC. Articles process may be served and shall Albany, NY 12207. Principal business Emmet, Marvin & Martin LLP, Attn: NY 10036. Purpose: any lawful act. of Organization were filed with the mail copy of process against LLC to address: 80 Varick St, 10B, NY, NY Robert Carver, 120 Broadway, 32nd Secretary of State of New York (SSNY) principal business address: 212-14 10013. Purpose: any lawful act. Fl., NY, NY 10271. SSNY designated NOTICE OF QUALIFICATION of The on 11/06/13. Office location: New York 48th Ave, Bayside, NY 11364. as agent of LLC upon whom process Atlas Network LLC. Authority filed County. SSNY has been designated Purpose: any lawful act. Alfred F. Hurley, Jr. & Company, LLC against it may be served. SSNY with Secy of State of NY (SSNY) on as agent of the LLC upon whom (the “LLC”) filed Articles of Organization shall mail process to the LLC at the 12/2/13. Office location: NY County. process against it may be served. NOTICE OF FORMATION of with the NY Secretary of State addr. of its princ. office. Purpose: LLC formed in DE on 7/15/05. SSNY SSNY shall mail a copy of process to RIVERSIDE 16A LLC. Arts of Org. ("SOS") on January 13, 2014. LLC Any lawful activity. designated agent upon whom process the LLC, 338 3rd Avenue, New York, filed with NY Secy of State (SSNY) office is in New York County. SOS may be served and shall mail copy of New York 10010. Purpose: For any on 12/04/2013. Office location: New was designated as agent of the LLC Notice of Qual. of Alpha4X Asset process against LLC to: 95 Jefferson lawful purpose. York County. SSNY is designated upon whom process against it may Management, LLC, Auth. filed Sec'y of St, Garden City, NY 11530. Principal as agent of LLC upon whom be served. SOS shall mail copy of State (SSNY) 5/14/13. Office loc.: NY business address: 1441 Broadway, ALEGOR MANAGEMENT, LLC, a process against it may be served. any process served to 335 Madison County. LLC org. in DE 11/9/12. SSNY 3rd Flr #3071 NY, NY 10018. Cert. of domestic LLC, filed with the SSNY SSNY shall mail process to: 322 Avenue, New York, New York 10017. desig. as agent of LLC upon whom LLC filed with Secy of State of DE: 9 on 12/10/13. Office location: New West 57th Street, Suite 51U1, New The purpose of the LLC is any lawful process against it may be served. E Loockerman St, Ste #205, Dover, York County. SSNY is designated as York, NY 10019: any lawful activity. act or activity. SSNY shall mail copy of proc. to Att: DE 19901. Purpose: any lawful act. agent upon whom process against Manuel Mejia-Aoun, 1040 Ave of the the LLC may be served. SSNY shall Notice of Formation of: Culloden NOTICE OF FORMATION OF Service Americas, NY, NY 10018. DE off. addr.: Notice of Qualification of Arhaus, LLC. mail process to The LLC, c/o James Group LLC. Articles of Organization Occasions LLC. Articles of Organization CSC, 2711 Centerville Rd., Wilmington, Authority filed with NY Dept. of State Pratt, 30 Bogardus Pl., #6F, NY, NY filed with the Secretary of State of filed with the Secretary of State of NY DE 19808. Cert. of Form. on file: on 3/3/14. Office location: NY County. 10040. General Purpose. NY on 11/05/2013. Office location: (SSNY) on 12/10/13. Office location: SSDE, Townsend Bldg., Dover, DE LLC formed in DE on 12/19/13. NY New York County SSNY has been NEW YORK. SSNY has been desig- 19901. Purp.: any lawful activities. Sec. of State designated agent of LLC NOTICE OF FORMATION OF BETTER designated as agent upon whom nated as agent upon whom process upon whom process against it may be BROKERS, LLC. Articles of Organization process against it may be served. against it may be served. The Post HATTAN HOLDINGS LLC, a domestic served and shall mail process to: Allan filed with Secretary of State of NY The Post Office address to which the Office address to which the SSNY LLC, filed with the SSNY on 1/14/14. C. Churchmack, 7700 Northfield Rd., (SSNY) on 1/21/14. Office location: NY SSNY shall mail a copy of any shall mail a copy of any process Office location: New York County. Walton Hills, OH 44146, principal County. SSNY designated agent upon process against the LLC served against the LLC served upon him/her SSNY is designated as agent upon business address. DE address of LLC: whom process may be served and upon him/her is: 40 East 89th Street, is: 90 Park Avenue, Suite 1700, NY, whom process against the LLC may 1209 Orange St., Wilmington, DE shall mail copy of process against Suite 12F, New York, NY 10128. The NY 10016. The principal business be served. SSNY shall mail process 19801. Cert. of Form. filed with DE Sec. LLC to principal business address: principal business address of the address of the LLC is: 90 Park to Deepak Khullar, 1120 Ave of the of State, 401 Federal St., Dover, DE 15 W. 72nd St., #17M, NY, NY LLC is: 40 East 89th Street, Suite Avenue, Suite 1700, NY, NY 10016. Americas, 4th Fl., NY, NY 10036. 19901. Purpose: all lawful purposes. 10023. Purpose: any lawful activity. 12F, New York, NY 10128. Dissolution Date: (If Applicable). General Purpose. Purpose: any lawful act or activity. Notice of Qualification of Sebago Notice of Qualification of 59 SOUTH Notice of Qualification of EAM 40 Notice of Qualification of ROMARK Properties, LLC. Application for 4TH INVESTOR LLC. Authority filed Meadow Lane LLC. Authority filed Notice of Formation of WEIRDO LABORATORIES, L.C. Authority filed Authority filed with the Secretary of with Secy. of State of NY (SSNY) on with NY Dept. of State on 12/24/13. WORKSHOP, LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on State of New York (SSNY) on 02/18/14. Office location: NY County. Office location: NY County. Princ. bus. with Secy. of State of NY (SSNY) on 2/25/14. Office location: New York 1/28/2014. Office location: New York LLC formed in Delaware (DE) on addr.: 600 Madison Ave., 17th Fl., 02/05/14. Office location: NY County. County. LLC formed in Florida (FL) on County. LLC formed in FL on 01/22/14. SSNY designated as agent NY, NY 10022. LLC formed in DE on Princ. office of LLC: c/o SKP, LLP, 1745 10/24/94. SSNY designated as agent 4/1/2013. SSNY designated as an of LLC upon whom process against it 6/19/13. NY Sec. of State designated Broadway, 18th Fl., NY, NY 10019. SSNY of LLC upon whom process against agent upon whom process may be may be served. SSNY shall mail agent of LLC upon whom process designated as agent of LLC upon it may be served. SSNY shall mail served and shall mail process to the process to The LLC, 134 Spring St., against it may be served and shall whom process against it may be process to: c/o National Registered principal business address to 777 Ste. 305, NY, NY 10012. DE addr. of mail process to: c/o CT Corporation served. SSNY shall mail process to Agents, Inc., 111 Eighth Ave., NY, NY South Flagler Drive, #1500W, West LLC: c/o Corporation Service Co., System, 111 8th Ave., NY, NY 10011, WEIRDO WORKSHOP, INC. at the 10011, also the registered agent. Palm Beach, FL 33401. Certificate 2711 Centerville Rd., Ste. 400, regd. agent upon whom process may princ. office of the LLC. As amended Address to be maintained in FL: of LLC filed with the Secretary of Wilmington, DE 19808. Arts. of Org. be served. DE addr. of LLC: 1209 by Cert. of Correction filed with SSNY 3000 Bayport Dr., Ste. 200, Tampa, State of FL located at Florida filed with Secy. of the State of DE, Div. Orange St., Wilmington, DE 19801. on 02/18/14, addr. of process changed FL 33607. Arts of Org. filed with the Secretary of State, Division of of Corps., John G. Townsend Bldg., Cert. of Form. filed with DE Sec. of to WEIRDO WORKSHOP, LLC, c/o SKP, FL Secy. of State, 2661 Executive Corporations, 2661 Executive Center 401 Federal St., Ste. 4, Dover, DE State, P.O. Box 898, Dover, DE LLP, 1745 Broadway, 18th Fl., NY, NY Center Circle, Tallahassee, FL 32301. Circle West, Tallahassee, Florida 19901. Purpose: Any lawful activity. 19903. Purpose: all lawful purposes. 10019. Purpose: Any lawful activity. Purpose: any lawful activities. 32301. Purpose: Any lawful acts.

March 31, 2014 | Crain’s New York Business | 39 Eataly wine store to close Interfaith gets in liquor-license dispute a second shot

his roots in northeast Italy,” store will close.A lawyer familiar with Brooklyn hospital to be downsized, funded Mario Batali settles where he is “creating wines” the case said the liquor authority will charges brought and importing them from determine when the tal admissions and the use of emer- the Friuli region. suspension begins. BY BARBARA BENSON gency rooms. by state authority The liquor authority The issue came to The court also approved a new charged that Mr. Batali lied light in 2012, when Interfaith Medical Center was management team that has the or “suppressed information” the wine store’s handed a lifeline last week when a backing of the state, the hospital’s BY LISA FICKENSCHER about the wholesale and manu- license was up bankruptcy court approved addi- unions and secured creditors. facturing interests of his business for renewal. tional state financing through Melanie Cyganowski, a partner at Celebrity chef Mario Batali (pic- partners. Both offenses could have The March 2015 and a new management law firm Otterbourg and a former tured) will close the wine store at his resulted in the revocation of the business team. The Brooklyn hospital is ex- bankruptcy judge for the Eastern Italian market, Eataly, for six store’s license. partners, pected to downsize and become part District of New York, is the new months and pay a $500,000 fine to At first, the partners pleaded not whose hold- of a broader health care network. chief restructuring officer; Steven the New York State Liquor Author- guilty to the SLA’s charges. But a ings are un- The Bedford-Stuyvesant facility Korf,Brookdale University Hospital ity as part of a settlement reached letter from their lawyer on Feb. 28 der the name said in a bankruptcy court filing and Medical Center’s former chief last week with the state. stated that they withdrew the plea Batali & Bas- March 21 that it would partner with operating officer, will be the new Mr. Batali and his business part- and offered to pay the fine and tem- tianich Hospitali- other providers to coordinate care CEO. He is also a consultant in ners, the mother-and-son team of porarily close Eataly’s Wine Shop at ty Group, also own with mental-health and social managing turnarounds. Lidia and Joe Bastianich, were ac- 200 Fifth Ave. at West 23rd Street, about a dozen services. Interfaith will pay up to cused of running afoul of state liquor which sells some 1,000 Italian restaurants in the Interfaith is expected to try to tap $545,000 per month to Ms. laws prohibiting licensees from wines. In addition, Ms. Bastianich city, including Del money from the state’s $8 billion Cyganowski and Mr. Korf and their owning wine stores and wine- will be removed from the wine Posto, Babbo, Esca and Medicaid waiver when it is ap- firms,plus up to $15,000 a month in importing or -manufacturing busi- store’s liquor license. Lupa. They also have proved by the federal government. expenses.That’s on top of the $2.25 nesses. The Eataly website notes A spokeswoman for Eataly said a eateries in Las Vegas The bulk of the money is set aside million that the case’s lawyers and Ⅲ Ⅲ getty images that Mr. Bastianich has “returned to date has not yet been set for when the and Los Angeles. for an initiative meant to cut hospi- consultants have asked for.

TO PLACE A CLASSIFIED AD CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of qualification of NYC Fashion Notice of Qualification of COURTNEY Notice of Qualification of CIRQUE DU NOTICE OF FORMATION OF 40 NOTICE OF FORMATION OF AMERICAN Production Fund, LLC. Arts of Org ONE MANAGER LLC. Authority filed SOLEIL VEGAS, L.L.C. Authority filed WOOSTER RESTORATION LLC. Arts STANDARD WING LLC. Articles of filed with Secy of State of NY (SSNY) with Secy. of State of NY (SSNY) on with Secy. of State of NY (SSNY) on of Org filed with Secy of State of NY Organization filed with Secretary of on 12/6/2013. Office location: NY 03/19/14. Office location: NY County. 02/13/14. Office location: NY County. (SSNY) on 2/6/14. Office location: NY State of NY (SSNY) on 12/04/2013. County. LLC Formed in DE on LLC formed in Delaware (DE) on LLC formed in Delaware (DE) on County. SSNY designated agent upon Office in New York County. SSNY 11/13/13. SSNY designation agent 03/11/14. Princ. office of LLC: 1720 04/07/03. SSNY designated as agent whom process may be served and designated as agent of LLC upon upon whom process may be served Post Rd., Fairfield, CT 06824. SSNY of LLC upon whom process against it shall mail copy of process against whom process against it may be and shall mail copy of process designated as agent of LLC upon whom may be served. SSNY shall mail LLC to principal business address: served. SSNY shall mail copy of against LLC to: Corp. Serv., Co. 80 process against it may be served. process to c/o Corporation Service Co., 260 Madison AV, Ste 204, NY, NY process to 1830 2ND AVE, NY, NY State St, Albany, NY 12207-2543. SSNY shall mail process to c/o 80 State St., Albany, NY 12207-2543. 10016. Purpose: any lawful act. 10128. Purpose: Any lawful purpose Principal business address: 1700 Ceruzzi Properties LLC at the princ. DE addr. of LLC: c/o Corporation Broadway, 19th Flr NY, NY. Cert. of office of the LLC. DE addr. of LLC: c/o Service Co., 2711 Centerville Rd., Notice of Formation of AGW NYY LLC. Notice of Formation of Sparrow By LLC filed with Secy of State of NY: Corporation Service Co., 2711 Ste. 400, Wilmington, DE 19808. Arts. of Org. filed with Secy. of State Seymour & Paul, LLC, Art. of Org. filed 401 Federal St., Ste 3, Dover, DE Centerville Rd., Ste. 400, Wilmington, Arts. of Org. filed with Secy. of State, of NY (SSNY) on 02/19/14. Office Sec'y of State (SSNY) 11/26/13. Office 19901. Purpose any lawful act. DE 19808. Arts. of Org. filed with DE 401 Federal St., Ste. 4, Dover, DE location: NY County. SSNY desig- location: NY County. SSNY designated Secy. of the State, Div. of Corps., John 19901. Purpose: Any lawful activity. nated as agent of LLC upon whom as agent of LLC upon whom process Notice of Formation of AMPLIFON G. Townsend Bldg., 401 Federal St., process against it may be served. against it may be served. SSNY shall IPA, LLC. Arts. of Org. filed with Ste. 4, Dover, DE 19901. Purpose: The professional limited liability com- SSNY shall mail process to the LLC, mail copy of process to Dorothy Weber, Secy. of State of NY (SSNY) on Any lawful activity. pany name is Sander Rabin H+Juris 500 Park Ave., Apt. 14F, NY, NY 494 Eighth Ave., 6th Fl., NY, NY 10001. 02/06/14. Office location: NEW YORK PLLC. The Articles of Organization 10022. Purpose: Any lawful activity. Purpose: any lawful activities. County. SSNY designated as agent Notice of Qualification of BORO were filed with the NY Secretary of DIFEI of LLC upon whom process against ASSOCIATES LLC. App. for Auth. State on March 13, 2014. The CNI CREATE NEW IDEAS LLC, a NOTICE OF FORMATION of GROUP LLC. it may be served. SSNY shall mail filed with Secy. of State of NY (SSNY) PLLC’s office is in Westchester domestic LLC, filed with the SSNY on Arts of Org. filed with NY process to: c/o National Registered 11/12/13. Office location: NY County. County. Business Filings Inc is desig- 2/25/14. Office location: New York Secy of State (SSNY) on 12/10/2013. Agents, Inc. 111 Eighth Ave., NY, NY LLC formed in Delaware (DE) on nated as the PLLC’s agent for serv- County. SSNY is designated as agent Office location: New York County. SSNY 10011, also the registered agent. 10/18/13. SSNY designated as agent ice of process at 187 Wolf Rd Suite upon whom process against the LLC is designated as agent of LLC upon Purpose: any lawful activities. of LLC upon whom process against 101 Albany NY 12205. The PLLC is may be served. SSNY shall mail whom process against it may be it may be served. SSNY shall mail managed by a manager. The purpose process to c/o Christina Kallas Esq., served. SSNY shall mail process to: Notice of Formation of 18W 125 Assoc. process to: c/o Botsaris Morris Realty of the PLLC is to practice law. 5009 Broadway, Ste. 604, NY, NY 404 East 76th Street, Suite 5L, New LLC. Arts. of Org. filed with Secy. of Group LLC, Attn: Guy Morris, 358 10034. General Purpose. York, NY 10021: any lawful activity. State of NY (SSNY) on 1/9/14. Office Fifth Ave., Ste. 902, NY, NY 10001. DE Notice of Formation of Recast 24-26 Notice of Formation of Recast 431 location: NY County. SSNY designated Park Place, LLC. Arts. of Org. filed Notice of Formation of JDL Nautical, address of LLC: c/o United Corporate LLC. Arts. of Org. filed with Secy. of Warren Street, LLC. Arts. of Org. filed as agent of LLC upon whom process Services, Inc., 874 Walker Road, Ste. with NY Dept. of State on 11/26/2013. against it may be served. SSNY shall State of NY (SSNY) on 2/12/14. Office with NY Dept. of State on 11/26/2013. C, Dover, DE 19904. Cert. of Form. Office location: NY County. Princ. bus. Office location: NY County. Princ. bus. mail process to: c/o The LLC, 435 addr.: 1 MetroTech Ctr., Brooklyn, NY location: NY County. SSNY designated filed with DE Secy. of State, as agent of LLC upon whom process addr.: 1 MetroTech Ctr., Brooklyn, NY Fifth Ave., 4th Fl., NY, NY 10016. Townsend Bldg., Dover, DE 19901. 11201. Sec. of State designated Purpose: any lawful activity. against it may be served. SSNY shall 11201. Sec. of State designated Purpose: any lawful activity. agent of LLC upon whom process agent of LLC upon whom process against it may be served and shall mail process to: Gerald Lazar, 75 East Tru Dynamic Group LLC. Arts of Org End Avenue, Apt. 17E, NY, NY 10028- against it may be served and shall Name of LLC: Urban Kat LLC. Arts. mail process to: 131 W. 24th St., Apt. filed with Secy of State of NY (SSNY) 7909. Purpose: any lawful activity. mail process to: 131 W. 24th St., Apt. on 2/4/2014. Office location: New of Org. filed with NY Dept. of State: 2, NY, NY 10011, Attn: Betsy Jacobs, 2, NY, NY 10011, Attn: Betsy Jacobs, York County. SSNY designated agent 11/6/13. Office loc.: NY Co. Sec. of regd. agent upon whom process may Notice of Formation of Fortrium LLC. regd. agent upon whom process may upon whom process may be served State designated agent of LLC upon be served. Term: until 11/24/2063. Arts. of Org. filed with Secy. of State of be served. Term: until 11/24/2063. and shall mail copy of process whom process against it may be Purpose: all lawful purposes. NY (SSNY) on 2/3/14. Office location: Purpose: all lawful purposes. against LLC to: 134 W. 29th Street served and shall mail process to: NY County. SSNY designated as 11th Floor, New York NY 10001. Business Filings Inc., 187 Wolf Rd., NOTICE OF FORMATION OF agent of LLC upon whom process Notice of Qualification of EMERALD Principal business address: 134 W. Ste. 101, Albany, NY 12205, regd. PROFESSIONAL SERVICE LIMITED against it may be served. SSNY shall EXPOSITIONS, LLC. Authority filed 29th Street 11th Floor, New York NY agt. upon whom process may be LIABILITY COMPANY. NAME: PETER mail process to: 333 E. 33rd St., Ste. with Secy. of State of NY (SSNY) on 10001. Purpose: any lawful act. served. Purpose: any lawful act. H. PARETSKY, ATTORNEY AT LAW, 3A, New York, NY 10016. Purpose: 03/12/14. Office location: NY County. P.L.L.C. Articles of Organization were any lawful activity. LLC formed in Delaware (DE) on Notice of Formation of CB-GAA LLC. NOTICE OF FORMATION OF The filed with the Secretary of State of 01/11/94. SSNY designated as agent Arts. of Org. filed with Secy. of State Langer Syringe, LLC. Arts of Org filed New York (SSNY) on 03/19/14. NOTICE OF FORMATION OF 3Dream, of LLC upon whom process against it of NY (SSNY) on 03/21/14. Office with Secy of State of NY (SSNY) on Office location: New York County. LLC. Arts of Org filed with Secy of may be served. SSNY shall mail process location: NY County. Princ. office of 3/10/14. Office location: NY County. SSNY has been designated as agent State of NY (SSNY) on 1/17/2014. to c/o Corporation Service Co., 80 LLC: c/o Hotel Edison, 228 W. 47th SSNY designated agent upon whom of the PLLC upon whom process Office location: NY County. SSNY State St., Albany, NY 12207-2543. DE St., NY, NY 10036. SSNY designated process may be served and shall against it may be served. SSNY shall designated agent upon whom addr. of LLC: 2711 Centerville Rd., Ste. as agent of LLC upon whom process mail copy of process against LLC to: mail a copy of process to the PLLC, process may be served and shall 400, Wilmington, DE 19808. Arts. of against it may be served. SSNY shall Finkelstein Platt LLP, 11 Broadway, c/o Peter H. Paretsky, Esq., 676-A mail copy of process against LLC to Org. filed with DE Secy. of State, Div. mail process to the LLC at the addr. Ste 615, NY, NY 10004. Principal Ninth Avenue, #303, New York, NY principal business address: 150 West of Corps., John G. Townsend Bldg., of its princ. office. Purpose: Any business address: 933 Fifth Ave NY, 10036. Purpose: For the practice of 28th Street, Ste. 402, NY, NY 10001. 401 Federal St. - Ste. 4, Dover, DE lawful activity. NY 10021. Purpose: any lawful act. the profession of Law. Purpose: any lawful act. 19901. Purpose: Any lawful activity.

40 | Crain’s New York Business | March 31, 2014 FOR THE RECORD

certified check. To make inquiries, Rubens of Winick Realty Group and transaction worth $5,988,136. On the contact Erneste Pierre-Louis at (212) broker Lee Block. The asking rent was same day, she exercised options on ABOUT THIS SECTION 306-3609 or erneste.pierre-louis@ $100 per square foot. 68,295 shares of common stock at prices FOR THE RECORD is a weekly listing of information from the public record that nycha.nyc.gov. ranging from $64.01 to $76.15, in a deal can help businesspeople in the New York area find opportunities, potential worth $4,677,808. She now directly ● Teachers’ Retirement System STOCK TRANSACTIONS holds 32,837 shares. new clients and updates on competitors. Requests proposals by April 14 for To ask questions or get more information on this section, contact Crain’s modernization of conference rooms as Following are recent insider transactions at Sharon C. Taylor, senior vice president research department at [email protected]. state-of-the-art audio/visual spaces. To New York’s largest publicly held companies of corporate human resources, sold make inquiries, contact Frank Marshall filed with the Securities and Exchange 21,926 shares of common stock at at (212) 612-5482 or fmarshall Commission by executives and major $86.36 per share on March 12, in a @ trs.nyc.ny.us. shareholders. Listings are in order of transaction worth $1,893,529. She now NEW IN TOWN Nishimoto Trading, owed $2,884.96. transaction value.The information was directly holds 51,972 shares. obtained from Thomson Reuters. Companies that would like to have details ● Utica Brooklyn Acquisition Corp. REAL ESTATE DEALS ● Dealertrack Technologies Inc. (TRAK) of openings published should submit 1365 48th St., Brooklyn ● Regeneron Pharmaceuticals Inc. Richard M. Mcleer, executive vice descriptions following this format to Filed for Chapter 11 bankruptcy Companies that would like to have details (REGN) president and chief information officer, [email protected], with protection on March 13. The filing cites of their recent transactions appear in these Sanofi purchased 401,705 shares of sold 47,418 shares of common stock at “New in Town” in the subject line. estimated liabilities of $1,000,001 to listings should email descriptions following common stock at prices ranging from prices ranging from $56.17 to $56.42 on $10 million and estimated assets of this format to MSingleton@crainsnewyork $325.40 to $339.27 on March 14, in a March 7, in a transaction worth ● Butterfish $1,000,001 to $10 million. .com, with “Real estate transaction” in the transaction worth $134,007,712. $2,670,752. He now directly holds 550 Madison Ave., Manhattan subject line, or enter them online at 29,798 shares. The sushi restaurant opened in midtown crainsnewyork.com/submitadeal. Deals are ● Henry Schein Inc. (HSIC) in the Sony Building. Its dining room GOVERNMENT CONTRACT listed in order of square footage. James P.Breslawski, president, sold ● Bristol-Myers Squibb Co. (BMY) has a communal table, and its menu OPPORTUNITIES 72,642 shares of common stock at prices Lamberto Andreotti, chief executive focuses on various omakase meals. COMMERCIAL ranging from $119.30 to $120.10 on officer, sold 100,000 shares of common Following are selected contract ● Pixable signed a five-year lease for March 14, in a transaction worth stock at $55.52 per share on March 10, ● Northern Territory opportunities recently announced by New 6,800 square feet at 100 Wall St. The $8,669,909. On the same day, he exercised in a transaction worth $5,552,260. He 12 Franklin St., Brooklyn York City agencies.To learn how to sell mobile-photo-app developer, currently options on 65,475 shares of common now directly holds 630,783 shares. The bar in a former warehouse space goods and services to city government, visit located at 137 Varick St., was acquired stock at prices ranging from $51.23 to opened in Greenpoint. It serves a mix of www.nyc.gov/selltonyc. For a searchable by SingTel in 2012 for $26.5 million. $59.89, in a deal worth $3,653,132. He ● PepsiCo Inc. (PEP) Australian, German and American food database of current procurement notices, The tenant was represented by Jonathan now directly holds 117,393 shares. Cynthia M. Trudell, executive vice and features a rooftop bar. visit www.nyc.gov/cityrecord. Listings are Tootell of Newmark Grubb Knight president of human resources and alphabetical by category and department. Frank. The landlord, Savanna, was ● Prudential Financial Inc. (PRU) chief HR officer, sold 57,098 shares ● Sweetwater Social represented by Scott Cahaly, Mitchell Susan L. Blount, executive vice of common stock at $82.09 per share 643 Broadway, Manhattan CONSTRUCTION SERVICES Konsker and Kyle Young of JLL. The president and general counsel, sold on March 17, in a deal worth The cocktail bar opened in Greenwich ● Department of Design and Construction asking rent was undisclosed. 68,047 shares of common stock at $4,687,175. She now directly holds Village. The menu is inspired by NYC Seeks competitive sealed bids by April $88.00 per share on March 11, in a 63,143 shares. street food and includes corn dogs and 10 at 11 a.m. for reconstruction of ● Rennert International signed a 10- sweet potato fries. collapsed or otherwise defective storm, year lease for 25,700 square feet at sanitary or combined vitrified clay pipe 211 E. 43rd St. in midtown. The foreign- ● Yoga Shanti sewers. Bid documents are available for language education provider is DEALS ROUNDUP 46 W. 24th St., Manhattan $35 by check or money order. To make expanding at the location to The Moroccan-inspired yoga studio inquiries, contact Emmanuel Charles at accommodate satellite offices. The ATRANSACTION SIZE opened in the Flatiron district. Limited- (718) 391-2200 or charlesem@ddc tenant was represented by Dennis Karr TRANSACTION SIZE time Founders Club memberships are .nyc.gov. of Newmark Grubb Knight Frank. The TARGET/SELLERS (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE being offered for $150 per month. landlord, Meadow Partners, was ● Department of Parks and Recreation represented by William Cohen and EPL Oil & Gas Inc./ $2,156.5 Energy XXI Ltd. SB M&A Birch Run Capital Seeks competitive sealed bids by April David Emden, also of Newmark Grubb (Manhattan) COMPANY MOVES 30 at 10:30 a.m. for reconstruction of Knight Frank. The asking rent was the boiler and pool dehumidification undisclosed. TransGlobe Energy Corp./ $713.6 Caracal Energy Inc. SB M&A Companies that would like to have details system at Asser Levy Bath House, east ● BlackRock, Inc. of recent moves published should submit of Asser Levy Place between East 23rd Zazoom signed a 28-month sublease (Manhattan); BlackRock descriptions following this format to and East 25th streets, Manhattan. A from Galen Technology Solutions for Asset Management [email protected], with prebid meeting is scheduled on April 3 5,500 square feet at 55 Broadway Canada Ltd.; Horizons “Company Moves” in the subject line. at 11:30 a.m. at the site. Bid documents downtown.The three-year-old Internet Investment Management Inc. are available at the Blueprint Room, video company will occupy a portion of ● Original Penguin Room 64, Olmsted Center, Flushing the eighth floor.The tenant was Accuvant Inc./ $225.0 Blackstone Group FB M&A 654 Broadway, Manhattan Meadows Corona Park, between 8 a.m. represented by Steve Chasanoff of Sverica International private-equity group (Manhattan), The apparel brand opened its flagship and 3 p.m. for $25, payable to City of Colliers International. Galen Technology management of Accuvant Inc. New York City store in NoHo. New York, Parks and Recreation, by Solutions was represented by Jonathan 26 apartment buildings $208.0 Pinnacle Group NY (Manhattan) SB M&A check or money order. To make Dean of Helmsley Spear.The landlord, in Brooklyn/Hudson Realty (remaining 50%) ● Pret A Manger inquiries, contact Juan Alban at (718) Broad Street Development, plans to sell Capital (Manhattan) 319 Broadway, Manhattan 760-6771 or [email protected]. the building to Harbor Group Beats Music/ $100.0 Access Industries Inc. GCI The sandwich shop opened a TriBeCa International for $157 million.The not disclosed (Manhattan), individual investors, outpost. The location will have outdoor ● Housing Authority asking rent was $37 per square foot. management of Beats Music seating in warm weather. Seeks competitive sealed bids by April 7 Credit Karma Inc./ $85.0 Tiger Global Management GCI at 10:30 a.m. for hot-water-heater RETAIL not disclosed (Manhattan), Susquehanna replacement at 74 W. 92nd St. Bid ● Starbucks signed a 15-year lease for Growth Equity, Ribbit Capital, BANKRUPTCIES documents are available for $25, payable 1,300 square feet at 425 Lexington Ave. in Google Capital to NYCHA by certified check or money midtown. The national coffee chain Fieldwood Energy/ $82.0 Riverstone Holdings GCI The following listings are selected from the order. Documents can also be obtained closed its space across the street at not disclosed (Manhattan) most recent available filings by companies by registering with iSupplier and Grand Central Terminal in March after Eventbrite Inc./ $60.0 T. Rowe Price Group Inc., GCI seeking bankruptcy protection in the downloading documents. To make losing it to a local coffee company’s bid not disclosed Tiger Global Management Southern and Eastern Districts of New inquiries, contact Vaughn Banks at (212) with the MTA.The tenant was (Manhattan) York. Information was obtained from U.S. 306-6727 or vaughn.banks@nycha represented by Taryn Brandes and WhisperText/not disclosed $30.0 Sequoia Capital, Lightspeed GCI Bankruptcy Court records available on .nyc.gov. David Firestein of the Shopping Center Venture Partners, Shasta Public Access to Court Electronic Records. Group. The landlord, institutional Ventures, Thrive Capital Listings are in alphabetical order. GOODS AND SERVICES investors advised by JPMorgan Asset (Manhattan), Tencent Holdings ● City University of New York Management, was represented by David Ltd. investment arm ● JoannaBBP Associates Inc. Requests proposals by 4 p.m. on April 8 LaPierre and Sean Moran of CBRE. Cortica Inc. (Manhattan)/ $20.0 Horizons Ventures Ltd., GCI 149-27 121st St., Queens for intellectual-property legal services. The asking rent was above $300 per not disclosed Mail.ru Group, individual Filed for Chapter 7 bankruptcy Vendors must submit a letter of interest square foot. investors protection on March 18. The filing cites to [email protected] Xapo Inc. (Manhattan)/ $20.0 Benchmark Capital, Fortress GCI estimated liabilities of $0 to $50,000 and make inquiries, contact John Harwood ● Gourmet Garage signed a multispace not disclosed Investment Group (Manhattan), estimated assets of $0 to $50,000. at (212) 397-5646 or john.harwood@ lease with co-op building Collect Pond Ribbit Capital mail.cuny.edu. House at 366 Broadway in lower BrightBytes Inc./ $15.0 Bessemer Venture Partners, GCI ● Kurofune Inc. Manhattan. The upscale market, with not disclosed NewSchools Venture Fund 77 Commack Road, Commack, N.Y. ● Housing Authority five other Manhattan locations, will investment arm, Learn Capital Venture Partners, Rethink Filed for Chapter 7 bankruptcy Seeks competitive sealed bids by 10 a.m. occupy 6,400 square feet of ground-floor Education (Manhattan) protection on March 19. The filing cites on April 10 for GSD maintenance space, 3,500 square feet on the lowest estimated liabilities of $500,001 to $1 painting of apartments at various level, and a 900-square-foot mezzanine. Selected deals announced for the week ended March 15 involving companies in metro New York. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing million and estimated assets of $0 to developments. Bid documents are The tenant was represented by Chase shares of a company without the participation of a financial buyer. FB M&A: Financial buyer $50,000. The creditors with the largest available at www.nyc.gov/html/nycha/ Welles of the Shopping Center Group M&A represents a minority or majority acquisition of existing shares of a company with the unsecured claims were 73 Commack html/business/business.shtml or and Jonathan Clott of Vision Property participation of a financial buyer. GCI: Growth capital investment represents new money Road Corp., owed $491,290; Ocean nonelectronically for $25, payable to Group. The co-op board at Collect Pond invested in a company for a minority stake. source: capitaliq Queen USA Inc., owed $4,224.25; and NYCHA by USPS money order or House was represented by Darrell

March 31, 2014 | Crain’s New York Business | 41 proach,” he said. “It’s an enlight- to try to avoid this law,”she said.“It’s Sick-days law worries small firms ened approach, and it really does going to make a big mess.” lead to a healthier, more productive Merchant groups, local cham- workforce.” bers of commerce and elected offi- Continued from Page 1 gery,he covered for a sick employee. each borough. Most small business owners cials are trying to assist small busi- taste just right,panicking when your “If somebody calls in sick, then After signing the legislation,Mr. would love to be able to give paid nesses. The New York City barista hasn’t shown up because his either me or my manager would de Blasio promised a public- time off.But those with a handful of Hospitality Alliance is partnering alarm clock didn’t go off, stressing have to stay longer or drop every- education campaign of subway ads, employees worry that the new law with the Department of Consumer about the Health Department, if thing else that we’re doing … and direct mail and trained staff travel- will make it even harder to compete Affairs to host a seminar Tuesday to your sanitation buckets have the come to work,” he said. ing door-to-door to help those busi- against larger businesses with deep- help answer employers’ questions. right ratio of bleach to water, your Businesses with fewer than 20 nesses struggling to comply with the er pockets. Their vulnerability was Brooklyn Councilman Robert bills, balancing your checkbook, en- workers will have six months before new mandate.Consumer Affairs re- the reason why the original sick-day Cornegy, chairman of the Small tering payroll,and then you stop and the law applies to them. At that cently posted notices about the new law passed last year affected only Business Committee, held a town realize that the store’s made hardly point, they will be subject to fines law on its website, but only in Eng- larger firms. hall March 27 that included presen- any sales yet,and you look across the starting at $500 by the city’s Depart- lish. The agency says it plans to re- Patricia Olmstead, who for 22 tations on the law by city officials, street, and the big green coffee giant ment of Consumer Affairs. lease additional material in other years has owned Long Island City, and intends to hold more. Mr. is packed,” said Mr. Wu, who runs Mr. de Blasio has said the new languages. Queens-based landscaping compa- Cornegy said he plans to introduce Dandy Espresso on Madison Av- law will cover an additional half- Mr. de Blasio also said that after ny Urban Explorations, has six em- legislation to extend the grace peri- enue and East 96th Street. “That’s million workers. Approximately ployees and was planning on adding od for businesses affected by Super- the most unnerving part.” 62% of businesses in New York two more. But with this new law— storm Sandy, and is kicking around have fewer than five employees, ac- ‘A lot of people I in addition to workers’ compensa- several other ideas. One for the price of two cording to the city’s Department of tion, unemployment insurance and “For microbusinesses, we should Mr. Wu’s stress shot up again in Small Business Services. In Man- know are going the general astronomical costs of have a collective HR department,” early March, when Mayor Bill de hattan alone,there are 28,000 busi- doing business in New York—she Mr. Cornegy said, “that would help Blasio and a coterie of jubilant City nesses with between five and 19 to try to avoid will defer those hires. Some of her with the accrual times, that would Council members signed a paid- employees, according to census new costs, she says, amount to more help with hiring,that would do all of sick-leave law that now covers busi- data compiled by real estate firm this law. It’s ... $40,000 a year. the things small businesses find nesses with at least five employees. Studley Inc. themselves unable to do, not be- The previous threshold in legisla- a big mess’ Profit parasites cause they don’t want to,but because tion passed last year was 15. Boom in retail workers “I feel like there are leeches on of time constraints.” And under a little-noticed provi- The push toward paid sick days my business,” Ms. Olmstead said. Many owners expect long days to sion,businesses with fewer than five reflects the changing face of the Antonella Nazzaro, owner of grow longer. Still, Mr. Wu, the workers will be required to allow city’s economy, which since the Pisillo Italian Panini in the financial coffee-shop owner, perseveres. each employee up to five unpaid Great Recession has seen an explo- district, has just two employees, and “I see my kids and I remember days off a year. sion of low-paid retail jobs— four years of public debate over paid therefore is required only to provide what I tell them about never giving For understaffed businesses, around 54,000 since 2009—while sick leave,most businesses should be unpaid time off for her workers, but up, light at the end of the tunnel, having to pay two people for the employment in the higher-paying clued in to the basics. she says the new law will make her etc.,etc.,and don’t want to be a hyp- work of one will mean more paper- finance sector has not returned to its “We think the vast majority of think twice about expanding. Some ocrite,” he said. “I crank up Journey work,more management headaches prerecession level. The swift enact- small businesses are going to readi- of her fellow business owners have in my car on my way to the store,and and less money with which to hire— ment of an expanded version also ly comply with [the law] because told her they plan on paying their then I feel a bit better.” Ⅲ that is, if they don’t do the work exposed small business owners’ lack they’re going to see what we’ve seen employees under the table to avoid themselves, as Mr. Wu had to re- of political clout—despite the pres- all across the country: that there’s a compliance. LISTEN to a discussion at CrainsNewYork.com/podcasts cently when, having just had sur- ence of chambers of commerce in lot of positive benefits to this ap- “A lot of people I know are going Tesla survives Albany derby

Continued from Page 3 When the Obama administra- The legislation grew from dealers’ It is Tesla CEO Elon Musk, tion bailed out Chrysler and GM 2012 lawsuit against the state De- though, who has come to epitomize and shepherded them through partment of Motor Vehicles for let- the risk-taking entrepreneur, stak- bankruptcy, it cited an excess of ting Tesla sell cars at a Westchester ing his company’s fate on electrici- dealerships as a cause of their woes. mall. The case remains under appeal ty-powered sports cars that sell for Led by New Yorkers Steven Rattner after being dismissed last year. $70,000 and up. Its shares closed at and Harry Wilson, the Obama task The automaker got crucial sup- $212.37 Friday, up from $40.21 a force was able to trim the number of port from Westchester Assembly- year earlier. While Tesla’s $2 billion dealerships but was frustrated by man David Buchwald, whose dis- in sales last year were a speck in the protectionist state laws and dealers’ trict is home to three Tesla facilities massive auto market, observers see aggressive lobbying of Congress. that have created 35 jobs. He told its business model as a threat to While car-dealership franchises colleagues that each of Tesla’s New dealerships. are in essence small businesses, they York locations adds $7 million to have combined to create a national $10 million to the state’s economy. Low-overhead model political force. Since Mr. Musk “This legislation is not about this NOT A DEALERSHIP: “What the car dealers are really founded Tesla in 2003, car dealers broader topic of protecting car deal- At Tesla showrooms, worried about is the precedent that have spent $86.8 million on dona- ers,” Mr. Buchwald said before Fri- the company sells if Tesla doesn’t have to use a dealer directly to consumers tions to state political races alone,the day’s agreement was reached. “It’s by steering around a today,tomorrow Ford will say,‘Why National Institute on Money in State about one new law being adopted,the state franchise law. aren’t we doing this?’ ” said Mr. Politics estimates. Tesla’s federal and effect of which would be to shut down

White. “It’s not that they’re afraid state campaign contributions during Tesla’s showrooms in New York.” buck ennis Mr.Musk is going to sell a few thou- that time are just shy of $500,000. He added, “I’d like to see Tesla sand cars to New Yorkers.” have the opportunity to grow its row consumer base—to engage in fornia trying to sell his cars to mil- Three of Tesla’s New York show- Lobbying in earnest business in New York based on the wholesale relationships with fran- lionaires,saying,‘I don’t want to play rooms are essentially kiosks staffed by Tesla put its foot on the gas in strength of their product.” chises would cripple the company by their rules,’”said Mr.Schienberg. a few “product specialists.” Its New New York, reflecting the impor- But dealerships are a powerful and doom the franchises, he said. Mr.Musk’s New York deal,how- York stores are fully owned legal sub- tance of the moment and the market force in Albany, and their bill was ever,shows he is getting better at the sidiaries of Tesla Motors, avoiding here. It spent $167,500 on lobbying approved by the Assembly’s trans- ‘Billionaire selling to millionaires’ game. Last November in North the franchise law and the overhead of in the state last year. Still, the portation and code committees. After the New Jersey Motor Ve- Carolina, where Tesla is prohibited large car lots and big staffs. Greater New York Automobile With Tesla’s recent legislative losses hicle Commission halted Tesla sales from opening showrooms, it faced a Mr. Musk says he is doing what Dealers Association spent more: in Texas and New Jersey, industry at showrooms in the Garden State legislative push to halt even its on- it takes to succeed. “When has an $219,500. Other dealership groups observers saw New York as a must- several weeks ago, Mr. Musk line sales in that state. As the vote American startup auto company lobbied the Legislature as well. Mr. win for Tesla’s bottom line and its blogged,“They cut a backroom deal neared, Mr. Musk had his employ- ever succeeded by selling through Musk,in turn,curried favor with en- crusade to revolutionize auto sales. with the governor to circumvent the ees park a Tesla Model S outside the auto dealers?”he wrote in a blog post vironmental groups and portrayed “To have this dealership model legislative process and pass a regula- statehouse and invited lawmakers to earlier this month. “The last suc- dealers’efforts as part of a slavish de- hardened into stone is purely pro- tion that is fundamentally contrary take a spin. cessful American car company was votion to fossil fuels. Last week, the tectionist and gets in the way of ef- to the intent of the law.” Tesla is still selling cars in North Chrysler,which was founded almost New York League of Conservation ficient distribution,” said NYU’s But critics of the Silicon Valley Carolina. Ⅲ a century ago, and even they went Voters urged its electric-car-loving Mr. White. Forcing Tesla—which businessman said he wants to com- bankrupt a few years ago,along with members to press legislators to op- makes relatively few cars and sells pete on a different playing field. LISTEN to a discussion at General Motors.” pose the bill that threatened Tesla. them at a high price point to a nar- “This is one billionaire out in Cali- CrainsNewYork.com/podcasts

42 | Crain’s New York Business | March 31, 2014 Love Your Company?

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Nomination Deadline: July 11, 2014 For sponsorship information, please contact Cynthia Hutchinson at (212) 210-0145 or [email protected] produce in a converted surfboard protecting the proprietary science Greenhouses are growing factory in Oceanside, Calif., that’s and technology it uses. now a greenhouse using hydropon- “We do have intellectual proper- Continued from Page 3 total to 100 in 2014. a greenhouse here, though it has one ic technology,is scouting for sites in ty that we are in the process of try- idential and industrial buildings, “Now that we have this experi- in rural Pennsylvania and plans to the Bronx. ing to protect,” conceded Mr. Puri, and schools in the city, Gotham ence under our belt, we are scaling build six others outside New York. “We’ve made several trips lately who instructed a photographer not Greens has bolted out of the startup our company and brand,” said A year ago, the urban farmer an- to review our options in the area,and to take photos showing how the ing gate. Though Brooklyn Grange Mr. Puri. Having Whole Foods in nounced a deal with Salmar Proper- the Bronx seems well suited to Fam- water-irrigation system works. has a bigger footprint here, its farms its corner will certainly help. ties to convert the roof of a 100- gro Farms,” said founder Steve “All of our recipes are proprietary, are all open-air and thus seasonal. Fambro. His products are also sold from how we provide nutrition to Gotham Greens’ customers in- More rooftop farms? at Whole Foods. our crops, to our temperature set- clude FreshDirect, D’Agostino, “On paper, we are their land- Famgro Farms Similarly, Montreal-based Lufa tings, to the varieties of crops we Dean & DeLuca, Key Food and lord,” said a spokesman for Whole Farms has been looking for the past use,” he said. Westside Market.The privately held Foods, “but we look at this as a is scouting couple of years for a rooftop in the The greenhouse relies on sensors company is backed by investors and strategic partnership.” Mr. Puri has city on which to erect a greenhouse. that track the temperature—toma- has some debt, but co-founder Viraj already been to the grocer’s head- for sites Lufa has two in Montreal that use toes need more heat and humidity Puri said it is profitable “and in the quarters in Austin, Texas, and water irrigation to grow its crops. It than leafy greens—as well as carbon black since day one.” He would not Whole Foods executives have been in the Bronx sells directly to consumers based on dioxide and oxygen levels, and the disclose revenue but said it would in- touring the greenhouse. a CSA model. The Canadian farm amount of light. The data are fed crease by 160% this year.It has raised Replicating the Gowanus store is recently inked a deal for its first out- into a computer system that can au- more than $15 million so far. “certainly something we talk about,” post in the U.S., in Boston. tomatically adjust the environment Six-year-old Gotham Greens said the Whole Foods spokesman. “We’ve been trying to get to de- as needed. launched its first greenhouse in But,he added,“it was easy to do it in year-old building in Sunset Park, velopers before they build, so they Gotham Greens will also be 2011 in Greenpoint, Brooklyn; its Gowanus, because we own this Brooklyn, to a greenhouse. But can make adjustments to accommo- tracking information about toma- second, at Whole Foods, was com- building.” BrightFarms never developed the date our needs,” said Lufa founder toes for the first time. They take up pleted in January; and a third will Whole Foods will be opening property and in February terminat- Kurt Lynn. to three months to harvest, com- open later this year in Jamaica, four more stores in New York City, ed its lease. The company and the pared with the 20 to 30 days leafy Queens, where it has a signed deal but none of them is suitable for a developer declined to give a reason Proprietary methods greens require. The tomatoes can with a developer. greenhouse, said the spokesman. for the reversal. Not only does the roof need to be also command a premium price, be- The company declined to dis- In fact, finding the right location “As New Yorkers, we are eager to sturdy,the greenhouse also has to be cause they are truly ripe when they close the address or identify the de- for such a business is among the start growing produce in our home- constructed so that it’s not “lifted off are plucked from the vine. veloper, but said it received biggest challenges Gotham Greens town,” said BrightFarms CEO Paul the roof by strong winds,”added Mr. “These are very coddled plants,” $900,000 late last year from the state and all urban farmers face. After all, Lightfoot in a prepared statement, Lynn. Mr. Puri said. “They have the best Regional Economic Development large spaces are not easy to find in the adding that the company is looking So far, Gotham Greens has been conditions.” Ⅲ Council to build out the Queens city. BrightFarms, a Manhattan- for another opportunity here. winning the battle for real estate,but site.That facility will add another 60 based competitor to Gotham Greens, And so are others. California- it is keenly aware of the competitive LISTEN to a discussion at CrainsNewYork.com/podcasts employees to its roster, bringing the for example,has not been able to open based Famgro Farms, which grows pressures it faces, particularly in

Chinese tourists ALL ABOARD: Hornblower Cruises introduced a trip just Continued from Page 1 Meanwhile, hoteliers in New for Chinese tourists. soon become the city’s No.1 market, Jersey say they have more Chinese according to tourism bureau NYC business than they can handle. “We & Company, edging out the United sometimes turn them away to a sis- Kingdom, which accounted for just ter property,” said Cathy Coanda, over 1 million visitors last year. director of sales for the Crowne The escalation is a result of Chi- Plaza hotel in Elizabeth. The 260- na’s granting the U.S.“approved des- room property near Newark airport tination status” in 2007 and a 2012 is booking more than 5,000 room executive order by President Barack nights a year from Chinese tour op- Obama to reduce the time it takes to erators, who request a discount as get a visitor’s visa at an American well as breakfast in exchange for the consulate in China to less than one high volume they bring. week from as much as 100 days. Ms. Coanda wishes some of the But just 65% of Chinese visitors, groups would reserve during slower compared with 87% of Brazilians times, when it’s harder to fill up the (No. 3) and 84% of the British, rest hotel. They pay the lowest rates the their heads in the city’s 101,000 ho- hotel can offer. And compared with

tel rooms. The hospitality industry the Marriott Marquis, which last buck ennis is eager to improve its odds. week listed room rates online of more The Marriott Marquis hotel in than $400 per night, the Crowne with whom they stay, but those who Of course,not all Chinese travel- one of its harbor-tour boats for Times Square books large groups of Plaza is already a bargain at $120 to come in big tour groups stay in hotels ers are pinching pennies. Business Mandarin-speaking tourists—in- visitors all the time, but none of $140 per night for a room with two with ample parking for the motor- travelers and wealthy tourists spend cluding Chinese-language banners them are from China. That will beds, according to its website. coach buses that take them every- freely at New York hotels.To attract on the upper decks and a recorded change in April, when 300 of Similarly, the Crowne Plaza in where they go in the U.S. them, the five-star Peninsula Hotel tour of the sights in lower Manhat- Amway’s top sellers from Shanghai Paramus—about 20 miles “We are positioning the on Fifth Avenue launched a $49 tan. The boat leaves from Pier 15 will be staying at the property for from midtown Manhat- borough hotels as an alter- Chinese breakfast about four years and makes two trips in the morning, five nights as part of their reward. tan—tries to limit the num- OF65% CHINESE native to New Jersey,show- ago at its restaurant, Clement, fea- carrying some 800 passengers each “We haven’t seen a large group ber of rooms it books for TOURISTS stay in ing the Chinese the advan- turing steamed pork buns, shrimp day; a ride costs $20. It even serves from China like this one yet,” said a Chinese groups to 20 at a NYC hotels, tages of Long Island City, dumplings and stir-fried egg noo- Chinese dishes, including ramen spokeswoman for Marriott’s prop- time. The 120-room prop- compared with Queens, for example, over dles with chicken. It added a $43 noodles. Hornblower is planning to erties in New York City. “It’s a big erty gives groups a discount 87% of Brazilians Edison,” said Fred Dixon, vegetarian option in June. add another vessel in May. “We’ve and 84% of deal for the hotel,” she added. of up to 35% off the best British chief executive of the never branded a boat like this be- available rate on its website. bureau. Cruising in Mandarin fore,” said Cameron Clark, vice Slippers and a teapot “It’s great business because they NYC & Company has set up a New York’s tourist attractions president and general manager. The 1,949-room Marquis will leave the hotel at 8 a.m. and return “training academy” in Shanghai and retailers are also doing their part Last summer, the Empire State pay special attention to these guests at 9 p.m., so there is less wear and where it is educating Chinese travel to attract the Chinese, who are ea- Building introduced a signed cer- to cultivate its reputation in China. tear on our rooms,” said Michelle agents, who arrange the vast major- ger to take in all of the traditional tificate given to Chinese tourists to For one thing, the hotel is supplying Gordon, director of sales for the ity of trips to the U.S., on the bene- sightseeing opportunities while commemorate their visit. No other each of their rooms with slippers property.“But they want low rates.” fits of booking a hotel in the city and they are here. group gets such special treatment. and a teapot. It also retained Terri The preference for New Jersey is staying here longer. Hornblower Cruises & Events is “It’s about creating buzz and Morrison, author of Kiss, Bow, or not lost on NYC & Company,which “In a 10- to 15-day trip, they are making a big investment in the mar- showing appreciation for their vis- Shake Hands, to conduct a seminar is trying to convince Chinese tour starting on the West Coast and end ket. It hired several Chinese gradu- it,”said Jean-Yves Ghazi,director of on Chinese customs and basic greet- operators that there are deals to be up at Niagara Falls,”said Mr.Dixon. ate students from New York Univer- the Empire State Building Obser- ings for the hotel staffers who will had in the city.Many Chinese visitors “They want to see it all, and we are sity to help it launch a targeted tour vatory, whose signature appears on come in contact with the guests. have friends and family members encouraging them to slow down.” product. The company dedicated the certificate. Ⅲ

44 | Crain’s New York Business | March 31, 2014 HELLUVA TOWN INSIDE Source Lunch Scott Gerber steps up his game Family affair PAGE 46 Real estate scion Matthew Moinian cut his teeth in the family business Out and About as the project manager of the W New York Downtown, which opened Smorgasburg opens for in 2010. the season PAGE 47 Now the 29-year-old senior vice president of Moinian Group is opening a hotel apart from his father Joseph’s vast empire of commercial and residential buildings. He turned to his uncle Morris Moinian’s Fortuna Realty Group to partner in Hotel Hugo,a 122-room property at 525 Greenwich St. that is opening this week. It will be the first of many hotels the younger Mr. Moinian expects to open. hotel hugohotel “I’m working on a couple of projects, including a much larger hotel,” he said, declining to disclose any other details. A lawyer by training, now earning an M.B.A. at New York University, he said he fell in love with the hotel business when he was growing up and traveling around the world. Hotel Hugo will fetch around $400 per night. Sean Largotta, whose other restaurants include the trendy Bill’s and The Lion,will run the Il Principe eatery at the hotel. —lisa fickenscher Coffee talk

Young professionals are about to get their own networking application, modeled on ones that many of them already use. Called Coffee, the new service is a cross between LinkedIn and Tinder, the popular dating app. FUN WITH MATH: Coffee, which is expected to Museum executives launch in Apple’s App Store in Glen Whitney and early April, allows users to find Cindy Lawrence take people with similar interests and a spin on the square- professional needs. wheeled tricycle. For example, a user who wants help with a startup can type into his profile, “Looking for mobile app developer,” along with the fact that he likes to play basketball. That profile will be shown to hoops-playing mobile developers, who might tap on the app’s coffee Playing the numbers bean (or hit the X and move on). Both users have to accept each other before they can connect. CEO Nathan Bernard,24, Year-old Museum of Mathematics looks to multiply its space developed the app with two friends. “It’s all ‘geo-based,’ here in after drawing bigger crowds than expected New York City,

and you can buck ennis discover, match and chat—and BY THERESA AGOVINO get a cup of coffee,” he said. He has giant sunflower face lies on the floor near the entrance to the year-old SUMMING seeded the National Museum of Mathematics. Resting on its curved petals are two app’s network brightly colored tricycles with square wheels, curiosities that beckon visitors IT UP with some 2,000 young to take a spin. ¶ Surprisingly, the ride around the flower is relatively smooth, professionals which is a physical manifestation of certain principles of calculus and culled from local meet- trigonometry. But Glen Whitney, the founder and co-executive director of 173K ups. Mr. North America’s only math museum, doesn’t care if visitors know that when Bernard NUMBER OF VISITORS sees they leave. More crucial is that they enjoy the jaunt, because the museum’s in first year revenue goal is to counter math’s often negative stereotype and prove that the subject can be fun. He also coming from paid services for hopes the museum will inspire students to pursue careers in math. ¶ “We want people to leave recruiters and companies. The team raised $38,000 from friends, Aand say,‘I had a great time at the math museum,’ ” said Mr. Whitney, who studied math at family and angels, and is in the Harvard University, earned a doctorate in mathematical logic from UCLA and worked as a process of raising another $22M $300,000. hedge-fund analyst. “If there is a connection that makes math less alien, less forbidding, that is AMOUNT RAISED —matthew flamm success.” ¶ The museum, which opened on East 26th Street in December See PLAYING on Page 46 to launch MoMath sawyer xie sawyer

March 31, 2014 | Crain’s New York Business | 45 SOURCE LUNCH: Playing the numbers SCOTT GERBER cedric angelescedric by Lisa Fickenscher Continued from Page 45 tive museums. However, she education. 2012, is succeeding on at least one added, as items have broken, many “We need students with math level. Attendance reached 173,000 have been refashioned to make skills,”said Mr.Steinmetz,who de- in the first year, more than two and them stronger. clined to say how much the compa- a half times what was projected. To keep displays fresh in its sec- ny donated. He added that he was Raising the bar on That has emboldened the institu- ond year, the museum is introduc- impressed with Mr. Whitney’s en- tion to start to look for new space ing temporary exhibits. One that thusiasm. “He really wants to give so it can expand to about 60,000 examines the relationship between kids an opportunity to succeed,” luxe hotel lounges square feet, roughly triple its cur- art and math will debut in May. It said Mr. Steinmetz. rent size. Mr. Whitney says there is launching programs for gifted isn’t enough room for all the ex- math students and toddlers. And Slow process hibits he wants to show or all the for the first time, the museum will Mr. Whitney was 14 years old cott Gerber has had to step ness for a while, but I guess we are school groups that want to visit. sponsor an adults-only evening. with a broken collarbone when he up his game over the past ramping up more. We are currently But even as MoMath celebrates “Adults told me they want to see started on his path to success several years since he consulting for Barneys, on the Freds its glittering launch in a city where exhibits but feel bad pushing kids through math. He suffered his in- bought out his brother restaurants in New York and Beverly starting any new cultural institu- jury at math camp but said it was Rande—also known as the Hills; we have taken over Todd Eng- tion (let alone one about numbers) the desire to get away from home Shusband of Cindy Crawford—in the lish’s Olives restaurant at the W is immensely challenging, it’s be- ‘There were and not a love of the subject that company they founded in 1991.Ger- Union Square hotel; and we are ginning its sophomore year at a landed him at the summer retreat. ber Group, of which he is chief exec- working on another deal on the Low- more measured pace.Attendance is beautiful In fact, he said, he hated math be- utive, operates 20 urbane hotel bars er East Side that will include the food projected to reach only 90,000 this fore camp. “I thought math was and lounges in five U.S.cities,includ- for the entire hotel. year,though that is still ahead of ex- patterns’ in dull. Lines of numbers—who ing New York, and Santiago, Chile, pectations for the first year. cares?” he said. employing about 700. Mr. Gerber, How is Gerber Group doing financially? And although the museum has math solutions After his soccer accident, he 53, has long focused on operations— Our revenues are just over $40 mil- received high praise in the media, couldn’t play sports,so he began fo- he studied business and finance at the lion and trending up. We were hit a several parents complained on a re- cusing on math problems he’d been University of Arizona—but lately he little bit by [the financial crisis]. The cent morning that some of the in- ignoring and eventually fell in love. has been overseeing the style and big companies were not spending teractive exhibits were broken and “I started to see if I solved this prob- glamour side that Rande cultivated. money. Now the weather has been that explanations were too sophis- out of the way,” said Mr. Whitney. lem, it matched up to something hurting us. When it’s freezing, peo- ticated for children, despite various The 44-year-old founder wasn’t else,” he said. “There were beauti- What changed when Rande left? ple don’t want to go to a bar. degrees of information provided to expecting the museum to become a ful patterns.” I’ve had to take on a lot more respon- In the third week of January, a suit different interests and abilities. tourist destination back in 2008, The challenge of the museum sibility. He was the face of the busi- pipe burst in a guest room on the sec- For example, one of the two trajec- when he came up with the idea as a was to try to ignite the same passion ness. I’m doing a lot of the press stuff ond floor [of the Viceroy hotel], and tories for toy cars was broken in the way to get more involved in his without a need for an orthopedist. now, but it’s not the Cindy Craw- Kingside, which had opened in Oc- Tracks of Galileo exhibit, as was community. At first, all he wanted It’s especially difficult because there ford/Rande Gerber glamour press tober, was closed for nine days. The one of the three computer stations was to create an institution on Long aren’t premade math exhibits in the because publications like People are water leaked in through the whole of a geometry exhibit. Island to replace a small math mu- U.S., so the museum conceived of not writing about me and ceiling. It cost $200,000 to “They need a lot more docents seum that had closed there in 2006. all of its displays from scratch. “If my wife and kids. Rande’s WHERE repair everything,and then to explain the exhibits,” said Mike As he reached out to his former you want to build a science muse- friends still love to come to we lost business, plus we Pelican, a tourist from Minneapo- colleagues and other interested um, you go to existing ones and say, our places. We treat them THEY paid all of our staff because lis visiting with his two children, parties, he realized there was sup- ‘I want to buy that exhibit and that and Rande as if he still DINED we didn’t want to lose ages 8 and 10. He wasn’t sure if he port and appetite for a larger enti- exhibit,’ ” said Ms. Lawrence. owned it. KINGSIDE them. We were also here would return on his annual visits to ty. In fact, he was able to raise $22 The museum tapped Tim Nis- I didn’t bring anyone in 124 W. 57th St. for two crane incidents the city. million—$2 million more than sen to transform math concepts to replace him. You can’t (212) 707-8000 when 57th Street was planned, thanks to a grant from into three-dimensional hands-on replace your brother. Now www.kingside- closed. restaurant.com Interactive classroom Google—in just 18 months. experiences for children. Mr. Nis- he has an interest in a Others were eager to return.Ten- “A lot of our supporters are sen, who formerly worked at the restaurant in Malibu, and AMBIENCE: What’s in the works? year-old Makayla Morgan liked the folks who found that math is what American Museum of Natural my other brother runs that Retro-chic We expect to open three Tree of Life exhibit,which projected made them successful,” said Mr. History and museum design firm for him. Sometimes I miss brasserie with lots more places this year: We of black and white her image as a tree trunk while a Whitney. Ralph Appelbaum Associates, said not having someone to tile are opening on the roof [at smaller picture of her became its Oppenheimer Funds President it’s been an exhilarating and chal- bounce things off of. I the Viceroy]; we have a branches. “It’s colorful, and I can Art Steinmetz said the company lenging position. have partners, but Rande WHAT THEY ATE: deal in Montreal and one change the shapes,” said Makayla, a underwrote one of the museum’s “Math is so abstract; there are and I are very close. Crispy baby in Los Angeles that is sup- artichokes; fifth-grader from Mt.Carmel-Holy exhibits because the institution’s many possibilities,” he said. shaved Brussels posed to open in the sum- Rosary School in Harlem. Her mission dovetails with the firm’s Mr. Nissen said some concepts Why did he leave? sprouts (shared) mer. Most of our proper- teacher, Vivia Harris, also praised charitable focus on education. Mr. are easier to illustrate than others. He also owns a rum and Cured salmon ties are in New York. If the museum. “It’s a classroom that’s Steinmetz explained Oppen- Geometry, for example, is among tequila company, and with dill slaw someone came to me and interactive,” she said. heimer’s future success is depend- the easier ones.The museum holds liquor-licensing laws don’t Smoked- said, “We have 500 hotels, Cindy Lawrence, the museum’s ent on having employees who excel what he calls a “mathenaeum,” permit you to have an on- chicken sandwich and if you go through our co-executive director,said that bro- at math, so it wants to support an which resembles a sort of Greek site liquor license and to with foie gras portfolio we think you’ll ken exhibits are a given in interac- institution trying to promote math temple. Inside are three stations own an alcohol company. mousse; one find three to five a year that soda that let people design their own When he chose to do that, you will want to do,” I’d PRICE: $88.12, shapes. Some are given form he couldn’t be in this busi- including tip consider that. through a 3-D printer and are ex- ness anymore. TOUGH QUESTIONS hibited in the museum. What’s your least favorite part FINDING CREATIVE FUNDRAISING METHODS “It’s like a museum in a muse- Is food more important at your bars now? about the nightlife business? that relate to a nonprofit’s core mission is um,” he said. We are trying to have you come in for When I see that person who has had often a test for its executives. At the National The hardest concept to illus- drinks at 5 or 6,and stay to have a bite a little too much to drink who is not Museum of Mathematics, officials literally give trate is one that shows that odd- to eat so you end up spending three being respectful to our staff. a test. Those attending the Math Masters have shaped objects of the same width hours at the bar instead of one hour. to answer roughly 185 questions, which range can still act like ball bearings and We brought chef Marc Murphy of Do you live the lifestyle? from trivia such as naming the famous create a smooth ride. There’s an Landmarc in to do the food at Stone I’m not out until 4 a.m. I have three mathematician who lost his mind (answer: exhibit in the museum that looks Rose Lounge [in the Time Warner kids. I’m home [in Westchester] at Nobel winner John Nash) to actual problem- like a short, raised bowling alley Center] and here at Kingside. night.I very rarely stay in the city.I’m that’s filled with acorn shapes. up with my kids at 6 o’clock, having solving. Kids can get in a sled and ride over Are you getting into the restaurant biz? breakfast with them. That’s what I The event is growing more popular. them. We have been in the restaurant busi- choose to do. Attendance at this year’s tournament totaled about 200, which was up “I was afraid it would be bor- 20% from last year. The February event raised a record $500,000. For ing,” Mr. Nissen said. “But with those considering entering next year, be forewarned that the competition is kids you have to make sure every- WHO KNEW? Scott Gerber is an outdoorsman who tough. First place was awarded to John Overdeck (pictured), co-founder of thing is safe.” has a vacation home in Whitefish, Mont., where he hedge fund Two Sigma Investments, while Terry Tao, a UCLA mathematics Still on his wish list:creating ex- professor, came in second. —THERESA AGOVINO hibits to illustrate the concepts of likes to wake-surf and mountain-bike. bloomberg news infinity and exponential growth.

46 | Crain’s New York Business | March 31, 2014 OUT AND SNAPS Events raise millions for children’s causes ABOUT by Ali Elkin and Theresa Agovino

CULTURE FIX CAREER BUILDER TUESDAY, APRIL 1, TUESDAY, APRIL 1 THROUGH SUNDAY, APRIL 6 The New York Building Congress will The Society of Illustrators will hold host a BREAKFAST FORUM with guest COMIC AND CARTOON ART WEEK. The speaker Patrick Foye, executive director schedule of events includes discussions, a of the Port Authority of New York and film screening and a book launch at New Jersey.The event will run from 8 locations around the city. Many of the a.m. to 9:30 a.m. at the New York events are free or cost up to $5. For a full Hilton Midtown, 1335 Sixth Ave. listing of the week’s events and locations, Registration costs $85 for members and visit www.societyillustrators.org. $150 for nonmembers, and is available online at www.buildingcongress.com/ SATURDAY, APRIL 5, events-upcoming.html. THROUGH SUNDAY, julie skarratt DAVID DINKINS RICHARD PARSONS JANUARY 4, 2015 THURSDAY, APRIL 3 , and MAURICE DUBOIS at the Children’s Defense elizabeth veneskey The American Museum The Fashion Institute of Technology Fund-New York benefit on March 12. It raised JOHN CONNOLLY, JOHN MOE, MARK SMITH, ROBERT GRIFFIN and ED MAHER at the of Natural History has a will host a SYMPOSIUM ON OMNI $884,000. Starlight Children’s Foundation gala on March 6. The event raised nearly $1.8 million. new exhibit that should be a RETAILING. The event will run from crowd-pleaser. PTEROSAURS: 8:30 a.m. until 12:30 p.m. and will FLIGHT IN THE AGE OF feature talks from Katia DINOSAURS showcases Beauchamp, co-founder and co-CEO the winged dinosaur, which was the of Birchbox, and Peter Nordstrom, first vertebrate to fly under its own executive vice president of Nordstrom power. An adult ticket to the exhibit Inc. Tickets cost $125 and are costs $27, which includes museum available online at admission. The museum is on Central www.fitnyc.edu. The event will Park West at 79th Street and is open be held at the conference center at the every day. For more information, visit John E. Reeves Hall at FIT,at West www.amnh.org. 28th Street and Seventh Avenue.

DON’T MISS SMORGASBURG OPENING SATURDAY, APRIL 5, AND SUNDAY, APRIL 6 paley center for media center for paley Celebrate Brooklyn’s GLORIA STEINEM, ALAN ALDA and MARLO

SMORGASBURG opening new of york uja-federation THOMAS celebrate the 40th anniversary of Free weekend at either East River JUSTIN GREEN, MARGAUX JAFFA and JONATHAN FALIK at the UJA-Federation of New York’s to Be … You and Me at the Paley Center on State Park in Williamsburg Young Real Estate Executives gala on March 12. It raised more than $300,000. March 11. on Saturday or Brooklyn Bridge Park’s Pier 5 on Sunday.Though many of See more of this week’s Snaps online at CrainsNewYork.com/galleries. the food vendors have been available at the indoor Brooklyn Flea through the winter, the weekly food fest is best enjoyed alfresco and features more options in the warmer months. Smorgasburg operates from 10 a.m. until 5 p.m. For more information, visit www.smorgasburg.com.

OPENING FUNDRAISERS FRIDAY, APRIL 4, THROUGH SATURDAY, APRIL 5 SUNDAY, SEPTEMBER 28 The CALIFORNIA INSTITUTE OF THE ARTS BENEFIT The Brooklyn Museum will AND AUCTION will kick off on April 5 with a present CHICAGO IN L.A.: JUDY gallery exhibition spanning two locations: CHICAGO’S EARLY WORK, 1963-74. Metro Pictures Gallery at 519 W. 24th St., The exhibit showcases the and the Paula Cooper Gallery at 534 W. 21st renowned feminist artist’s lesser- St. The event starts at 6 p.m. Works for sale known early work. The exhibit will raise funds for a new studio building and includes about 60 pieces in all scholarship, and will be on view at the galleries media. The museum is located at until April 19. On May 14, more works will be 200 Eastern Parkway and is open auctioned at Christie’s, 20 Rockefeller Plaza. Wednesday through Sunday. For more information, visit www.calarts.edu/ Suggested admission for adults is benefit-and-auction. $12. For more information, visit www.brooklynmuseum.org. MONDAY, APRIL 7 The SIGNATURE THEATRE ANNUAL GALA will honor former Mayor Michael Bloomberg and actor, director and playwright Ruben Santiago- APELLA is New York City’s most innovative BAR & BAT MITZVAHS Hudson.The event will be at the Pershing meeting and event space located within the BOARD MEETINGS Square Signature Center, 480 W. 42nd St. CELEBRATIONS Tickets start at $1,500 and are available by Alexandria Center for Life Science. COCKTAIL RECEPTIONS emailing gala@signature theatre.org or calling CONFERENCES (646) 388-8155. For more information, visit Events at Apella are managed by Backal DINNERS

pickett www.signaturetheatre.org. FASHION SHOWS Management Group and are exclusively HOLIDAY PARTIES catered by Riverpark, A Tom Colicchio LECTURES LOCATION SHOOTS MARK YOUR CALENDAR… Restaurant, and ‘wichcraft. MULTIMEDIA PRESENTATIONS PRESS CONFERENCES WEDNESDAY, APRIL 16, PRODUCT LAUNCHES THROUGH SUNDAY, APRIL 27 APELLA™, 450 EAST 29TH STREET WEDDINGS The TRIBECA FILM FESTIVAL returns with a EVENT SPACE AT 2ND FLOOR lineup that includes John Carney’s Begin Again ALEXANDRIA CENTER™ NEW YORK, NY 10016 (starring Mark Ruffalo and Keira Knightley), TEL 212.706.4100 and Time Is Illmatic, a documentary about the [email protected] rapper Nas. Tickets for individual screenings WWW.APELLA.COM are $9, and different festival passes and packages are available for up to $1,200. For

more information, visit www.tribecafilm.com. tribeca film festival

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