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Complex Media bloomberg news takes winning Snowstorm leaves approach to Web ® trail of frustration, PAGE 2 lost income Page 2 Wily banker VOL. XXVII, NO. 1 WWW.CRAINSNEWYORK.COM JANUARY 3-9, 2011 PRICE: $3.00 seeks 2nd NY conquest The gold PAGE 3 standard Condo buyers bring their case to federal for green court to void sales PAGE 2 under fire Moody’s board presents CEO LEED wilts as new with a special gift gauges better measure PAGE 4 energy use and costs

Ancient Greek BY THERESA AGOVINO warship heads THIS YEAR, for the first time, owners of to NY harbor PAGE 6 25,000 commercial properties in must report their buildings’ ener- gy use to the city.The data will be com- BUSINESS LIVES piled into publicly posted report cards that officials hope will shame energy hogs into making the renovations need- ed to improve their scores, much the same way that issuing letter grades to restaurants is making owners shape up. The city’s effort comes as pressure mounts to find alternatives to the pio- neering 10-year-old LEED ranking system,which reflects a building’s envi- ronmental performance. But LEED doesn’t measure energy use and costs, something a growing number of engi- neers, architects and landlords insist must be done. Their concerns and a GOTHAM GIGS See LEED WILTS on Page 20 Kate Clinton gets the last laugh P. 21 tom cocotos tom ● ANNE FISHER says tame the office narcissists P. 21 Nonprofit ● MOVERS & SHAKERS Robin Hood’s Saltzman REBOUND’S 2NDACT expansion fears more pain for nonprofits in 2011 P .. 22 ● GAEL GREENE gives 2011 brings prospect of modest but steady in theworks Donatella a break P .. 23 growth for city; government funds are wild card Housing Works, a NY

INDEX omists expect the city to solidify last year’s gains and institution, is going BY DANIEL MASSEY continue to grow. But with no significant increases NEIGHBORHOOD JOURNAL international; funds ______7 in high-paying jobs, the growth will be THE INSIDER ______8 ’S ECONOMY made national headlines in small, measured steps. will help AIDS victims REAL ESTATE DEALS PLUS ______9 in 2010, outperforming the rest of the country and Leading the way will be the education and health BY MIRIAM KREININ SOUCCAR VIEWPOINT ______10 gaining back almost a third of the jobs it lost in the services, and leisure and hospitality sectors. Job recession. gains should be comparable to last year’s 52,000,but FOR THE RECORD ______16 It was an extraordinary rebound,fueled largely by that won’t be enough to make a serious dent in the HOUSING WORKS, the New York institu- CLASSIFIEDS ______18 a tourism boom and hundreds of billions in federal stubborn unemployment rate, which is expected to tion that runs high-end thrift shops to EXECUTIVE MOVES ______21 dollars pumped into Wall Street that averted blood- remain above 9%.And with the trauma of the finan- fund its AIDS services, is spreading its THE WEEK AHEAD ______23 letting in the city’s bedrock securities industry. cial crisis receding further, 2010-like growth will be advocacy around the globe. As the calendar turns,an encore is in store.Econ- See ECONOMIC OUTLOOK on Page 15 The 20-year-old nonprofit recently opened offices in Haiti, Washington, Albany, and Jackson, Miss., to start up MORE ECONOMIC OUTLOOK efforts to help poor people living with YOUNG PEOPLE WHY IS THE JOBLESS TALE OF 2 BOROUGHS: HIV/AIDS and to promote the cause on a national scale. It plans to open an of- ELECTRONIC EDITION WITH JOBS AND RATE STILL SO THE BRONX IS DOWN fice in Puerto Rico this spring. THOSE WHO CAN’T HIGH? GREG DAVID AND BROOKLYN IS UP To help fund its new operations, FIND WORK P. 11 EXPLAINS P. 12 P. 12 Housing Works is also expanding its NEWSPAPER See HOUSING WORKS on Page 4 20110103-NEWS--0002,0003-NAT-CCI-CN_-- 12/30/2010 2:05 PM Page 1

WHERE THE BOYS ARE: Rich Antoniello built a booming Web business in three years. newscom n WEEKEND WHITEOUT Storm erupts after blizzard

BY ADRIANNE PASQUARELLI

BURGERS ARE A BIG PART of the fare on offer at Five Leaves, a popular eatery in Greenpoint, Brooklyn.But the blizzard that socked New York City the day after Christmas left many meat pat- ties in danger of being consumed naked. “Our chef had to scour all of Greenpoint sev- eral times just to get hamburger buns,”said Ariel Dearie, a manager. Five Leaves scavenged from nearby bodegas, other restaurants and friends

until bread delivery finally resumed on Dec. 29. buck ennis But because sidewalks and streets were barely plowed, deliverymen had to spend hours simply after debt troubles led to ownership dragging their dollies to the kitchen. changes at the fashion brand.Mr.Ecko re- mains a Complex investor. Unacceptable response Web network boosts Mr. Antoniello, the architect of the dig- SIMILAR SCENES WERE repeated across New York ital strategy, says that he set out to take an in the aftermath of the blizzard, which dumped approach opposite of what other magazine nearly two feet of snow in the area. Hundreds of publishers were doing: trying to keep users businesses across the five boroughs coped with Complex Media from leaving their sites. Knowing that the absent employees, lost sales and depleted inven- members of Complex’s target audience of tories. Days after the last flakes fell, the city’s cool young urbanites visit dozens of sites a flailing attempts at removal had become a high- More than 50 sites to attract young men day,he partnered with like-minded proper- decibel political issue, as many panned Mayor ties.Complex Media sells advertising across for his administration’s in- Rich Antoniello,Complex Media Inc.’s the sites and splits the revenue 50-50. ability to clear the streets. BY MATTHEW FLAMM longtime CEO, is overseeing a redesign of The links and cross-promotions have Frustrated by the “unacceptable” response, Complex.com to keep up that rapid worked. Complex.com’s traffic spiked in the City Council scheduled an oversight hearing COMPLEX MEDIA NETWORK, a collection of growth in an increasingly competitive on- 2010.In November,the site had 2.2 million for Jan. 10.“This was one of the worst failures of websites built around young men’s shop- line environment. The changes, which go unique visitors, a 300% increase over the the municipal government that we have seen in ping magazine Complex, has turned an im- live Jan. 5, will give the partner sites a big- year-earlier level,according to Google An- recent memory,” said Councilmember Stephen pressive trick since its birth three years ago: ger presence on the flagship site,highlight- alytics numbers provided by Complex Me- Levin, who represents Brooklyn neighborhoods It has turned a declining print business ing their stories in hopes of boosting every- dia. Following the addition in the fall of 21 and will participate in the hearing. into an online success story. body’s traffic. sites—including men’s fashion property Critics said that a snow emergency should The network now encompasses flagship PorHomme.com and urban music-focused have been invoked.Though Mr. Bloomberg ini- Complex.com and more than 50 partner Crucial time for success HipHopDX.com—the network’s audi- tially defended the city’s efforts, he eventually sites focused on the likes of sneakers, hip- “WE’RE GOING TO DO a little bit of the Huff- ence grew to 20 million visitors, compared admitted that the cleanup was insufficient and hop, basketball and fashion—all the sub- ington Post model and have a mini-aggre- with 9 million in the year-earlier period. See STORM on Page 20 jects that Complex has covered since its 2002 gation of the best of our network partners,” Mr. Antoniello said that the digital launch by clothing designer Marc Ecko. Mr. Antoniello said, sitting in offices his business has been profitable since mid- The digital enterprise, whose ad sales company shares with Marc Ecko Enter- 2009 and that gross revenues for the net- grew 154% in 2010 from the previous year, prises. “I anticipate another year of 100% work came to well over $20 million in BY THE NUMBERS now towers above the shrinking print op- growth out of Complex.com.” 2010.Citing the wishes of investors,he de- eration.That has helped Complex outlive a The network’s success has come at a clined to give dollar figures for Complex Weekly shift of the city’s economy slew of other young men’s titles, including crucial time. Ecko Enterprises sold Com- Media Inc., which comprises the maga- HAPPIER NEW YEAR: The strongest surge in Stuff, Blender and FHM. plex Media to private backers a year ago, See WEB NETWORK on Page 20 crucial holiday retail sales in years signals that é American consumers have finally climbed on the recovery bandwagon. +18.9% $302 +9.7% RISE IN NYC gas AVERAGE daily RISE IN Under law, apartment buyers may g prices from a year rate for ticket ago, to $3.15 hotel room in Oct., sales in 6 weeks a gallon up 7.7% from a ending Dec. 26 Source: Energy year earlier from a year earlier On Jan. 10, a federal appeals court judge in Brooklyn. At this point, opinions on the Information Source: PKF Source: The Victories in court would lower Manhattan is scheduled to begin possible outcome are sharply divided. Administration Consulting Broadway League mean losses for condo hearing their case. “These cases are a result of buyers’ re- morse,” said Evan Schieber, an attorney at developers who sold Closely watched case Starr Associates, who represents a devel- ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY at top of the market WATCHING CLOSELY will be at least 100 oth- oper that recently won its case against buy- er New York City apartment buyers who ers at The 505, a 108-unit development in vol. xxvii, no. 1, january 3, 2011—Crain’s New York Business (issn have filed similar actions against develop- Hell’s Kitchen—a ruling that will likely be 8756-789x) is published weekly, except for double issues the weeks of BY AMANDA FUNG July Fourth, Labor Day and Christmas, by Crain Communications ers, as well as many who may want to fol- appealed. “When the market was high in Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at low suit. Also watching will be the defen- 2007, [buyers] were riding the wave,” Mr. New York, N.Y., and additional mailing offices. Postmaster: Send GROUPS OF BUYERS at two luxury condo- dants in the cases, giant developers that Schieber said. “When the market correct- address changes to: Crain’s New York Business, Circulation Depart- ment, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber minium towers are getting another chance include the Related Companies and Muss ed, they were scrambling for ways to get service: Call (888) 909-9111. Fax (313) 446-6777.$3.00 a copy, $59.79 under an obscure U.S.law to win back hun- Development. The appeals court decision out of their contract.” one year, $109.79 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2011 by Crain Communications Inc. dreds of thousands in deposits they put is expected to set the pattern for similar Last January, in the first such case to All rights reserved. down at the top of the market on apart- cases involving up to 40 new luxury condo ever go to trial in New York involving a 42- ments they now want to walk away from. developments in Manhattan, Queens and year-old federal law that requires develop-

2 | Crain’s New York Business | January 3, 2011 20110103-NEWS--0002,0003-NAT-CCI-CN_-- 12/30/2010 2:06 PM Page 2 Kanas plotting NY return

opportunity for some. For example, Signature Hugely successful Bank’s assets have grown 63% in the past two years, to $11 billion. banker seeks morsels “New York is the best market in the coun- try right now for small and middle-market ripe for the picking lending,” said Signature Bank CEO Joseph DePaolo. “I can understand why John Kanas would want to get back here.” BY AARON ELSTEIN Though he might long to jump back into the fray right now, Mr. Kanas can’t until next JOHN KANAS turned 64 in November and year because of a noncompete agreement has a certain Beatles song on his mind,the one stemming from the sale of North Fork to Cap- with the lyrics, “Will you still need me, will ital One Financial for $13.2 billion in late you still feed me?” 2006. After that deal, he joined Wilbur Ross’ “Will you still love me?” he mused.“I guess investment firm as senior adviser. In May we’ll find out in New York soon.” 2009, he teamed up with Mr. Ross, Carlyle Mr. Kanas, the city’s most successful com- Group and Blackstone to buy BankUnited, a munity banker over the past 20 years, is plot- 78-branch, $12.7 billion-asset thrift that had ting a comeback. been seized by the Federal Deposit Insurance After selling his North Fork Bancorp.at the Corp. absolute peak of the market five years ago, the executive teamed up with some of the nation’s Help from Uncle Sam heaviest private-equity hitters and last year ac- THE $900 MILLION purchase—of which quired BankUnited, a failed thrift. He Mr. Kanas contributed $23 million—looked plans to take the scrubbed-clean bank public risky at the time but in retrospect appears a later this month; when his noncompete agree- sure bet because of the arrangement that Mr. ment with North Fork’s owner expires next Kanas and his partners brokered with the gov- year, he intends to start opening branches and ernment.The FDIC agreed to guarantee 80% buying small banks in the New York area. of BankUnited’s first $4 billion in loan losses If Mr. Kanas plays his cards right, he could and 95% of the rest. have an even bigger payday than the $200 mil- In effect, the new regime got a bank with a lion one that came with the sale of North Fork. clean slate and a name that, though damaged “I don’t like to play golf,” he said. “If I sat by the failure, is geographically vague enough home, I’d die. [Banking] is what I do. This is to be introduced in new markets. A successful what gets me up in the IPO, which seeks to raise morning, keeps me inter- $300 million, would ested in life.” ‘Banking is what merely underscore what a PROWLER: Former While he markets the phenomenal deal the North Fork CEO John initial public offering to in- I do. It’s what group struck. Kanas wants to open vestors,deal-makers are al- The talk among Wall branches and buy up gets me up small banks for his new ready speculating about Street pros is how faith- venture. which institutions Mr. in the morning’ fully the recent deal

Kanas would like to buy. tracks one done by Mr. bloomberg news Small banks catering to Ross about a decade ago, midsize companies,such as when he picked up a are eligible for “profit interest units,” which gage mania in 2004, when North Fork spent Signature Bank or Sterling group of bankrupt steel grant them a cut of any increase in BankUnit- $6.3 billion to buy GreenPoint Financial, Bancorp, are thought to be mills and left the govern- ed’s value. Mr. Kanas’ units were worth which specialized in lending to consumers his preferred targets. Not ment with the manufac- $36 million heading into the IPO, according with shaky credit histories. After acquiring surprisingly, Mr. Kanas wouldn’t comment. turers’pension obligations.His firm reaped an to the offering document. (The FDIC got a North Fork, Capital One shut down Green- He has picked an auspicious time to re- estimated $700 million when Mr. Ross took warrant, which allows it to benefit from the Point’s mortgage origination business and re- enter the market. With their stocks trading at the steel operation public in 2004; he sold the offering, too.) ported a $1 billion loss from the unit. or near book value,many potential acquisition entire company for $4.5 billion later the same Former colleagues believe that Mr. Kanas candidates can be picked up on the cheap. year. Mixed blessing will steer clear of such pitfalls this time. At the same time, banks that specialize in BankUnited probably won’t be that re- THE UNITS OFFER Mr. Kanas a powerful in- “The biggest temptation in banking is to business lending are enjoying strong loan warding, but Mr. Kanas could certainly make centive to maximize profits. That could be try to offer all things to all people,”said Randy growth, largely because former rivals like Eu- more than he did when he sold North Fork— fine, but too many bankers have shown a Nielsen, CEO of Herald National Bank and a ropean American Bank and NatWest disap- and he could do it in much less time than the willingness to take outsize risks for the sake former North Fork board member.“The secret peared into the arms of Citigroup or Bank of 30 years it took him to build that company. of short-term profits. of John’s success has always been that he keeps America years ago, leaving a void that spelled In addition, he and a few other executives Mr.Kanas himself succumbed to the mort- banking simple.” Ⅲ y get deposits back COURTING RELIEF AROUND TOWN Purchasers of condos in several new buildings are using the federal Interstate Land Sales Full Disclosure Act (ILSA) in an attempt to void contracts. ers to disclose key details of their projects sents the buyers appealing the Fifth on the to buyers,a judge rejected the claims of two Park decision. Mr. Weiner is anxiously purchasers at the 160-unit condo awaiting the start of the appeal because he Fifth on the Park. They had sought to get has at least four other similar cases pend- out of their contracts by claiming that the ing. developer had failed to produce all the re- Developers could face millions of dol- quired documents. Buyers lost a similar lars in losses if the buyers prevail and the case at One Hunters Point,a 131-unit tow- developers have to find new purchasers for er in Long Island City, Queens. units they sold for top dollar. Since those original deals were struck, prices have fall- Purchaser-friendly rulings en by as much as 25%. 100 35 8 SINCE THEN, however, buyers have prevailed The suits stem from a little-known 1968 NUMBER OF BUYERS NUMBER OF BUYERS NUMBER OF BUYERS in four different cases while losing only one. law called The Interstate Land Sales Full at Sky View Parc (above) in Queens of apartments at The 505 (above) appealing ILSA ruling in favor of “There have been a slew of purchaser- Disclosure Act,or ILSA.Initially designed using ILSA to try to void their on the West Side who recently lost developer of Fifth on the Park friendly rulings,” said Lawrence Weiner of to protect unsuspecting consumers from contracts an ILSA claim against the developer (above) in Harlem Wilentz Goldman & Spitzer, who repre- See APARTMENT BUYERS on Page 20

January 3, 2011 | Crain’s New York Business | 3 20110103-NEWS--0004-NAT-CCI-CN_-- 12/29/2010 6:28 PM Page 1

Housing Works runs four health centers, which recently started of- Housing Works fering specialty care, including den- tal services and psychotherapy, and IN THE MARKETS Continued from Page 1 ment firm—are slated to bring in 151 units of housing for people liv- successful chain of trendy thrift $23 million in revenue this year. ing with HIV/AIDS. Aaron Elstein shops nationwide, Crain’s New York “This is an industry that thrives Now it is sharing those kinds of by Business has learned. during the recession,” said Adele services with other parts of the First up will be Washington, Meyer, executive director of the As- country and the world. D.C., where executives from the sociation of Resale Professionals. In nonprofit are looking for real estate fact, net sales at thrift shops grew First stop: Haiti Moody’s CEO receives Yuletide gift and hope to open a branch in the fall. 12.7% in 2009 from the previous IN HAITI, Housing Works opened its Their goal is to slowly open a num- year, while overall retail sales fell first international office after the re- O WALL STREET ber of stores in the D.C.area,expand 7.3% during the same period, ac- cent earthquake. It now operates institution made as much into the tristate region around New cording to Ms. Meyer. three clinics for low-income people N York City and eventually move into Housing Works’ thrift stores are there, though it plans to turn the noise this holiday season other major markets such as Atlanta so successful that many people don’t clinics over to local groups in three as Moody’s. Over the past month, and Chicago. realize the extent of the organiza- years. it downgraded Ireland’s credit “We want to play a much larger tion’s activities. At the same time, Housing role on a national level,”said Charles “People think we are a founda- Works is providing technical assis- rating, threatened to do the same King, who founded Housing Works tion that funds other groups who tance to AIDS activists in other to Spain and Portugal, and with three other members of the parts of the Caribbean and may ex- strongly hinted that legendary AIDS activist group Act pand into those countries. Washington’s decision to extend Up. “You can’t operate as an island ‘We want to Housing Works executives chose with this issue.” Jackson and Puerto Rico as loca- the Bush-era tax cuts could Most nonprofits retrenched and play a much tions because they have been hit jeopardize the U.S.’s AAA rating. cut their budgets as fundraising hardest by the AIDS epidemic and dried up during the recession. But larger role on a have the least access to care. Missis- While Moody’s was throwing its weight around, few noticed that the Housing Works’ operating budget sippi has the highest teenage preg- agency also did something special for Raymond McDaniel (above), its CEO. defied the odds, actually jumping national level’ nancy rate in the country and a large Specifically,the firm added some extra goodies to his exit package should he 12% for this fiscal year, which end- number of people living with HIV, decide to sell Moody’s. ed June 30, to nearly $55 million. but the state refuses to take funding According to a Dec. 20 regulatory filing, Moody’s said that it amended its from the Centers for Disease Con- “change in control”plan so that in the event of a sale,Mr.McDaniel would get Recession spurred growth trol, according to Mr. King. a lump-sum payment equal to three times his base salary and “target bonus.” THE GROWTH CAN actually be attrib- work on homelessness and AIDS,” For now, of course, the funding Based on his pay for 2009, the most recent year available, the change would uted to the recession. As more con- said Matthew Bernardo, senior vice for Housing Works’ activities out- make Mr.McDaniel eligible for a payment of $6.9 million,which is about sev- sumers looked for retail deals, president of business services at side New York City comes largely en times as much as he would have received under the former arrangement. Housing Works thrift shops were Housing Works. “Very few people from its thrift shops and donations In its filing, Moody’s said it had juiced Mr. McDaniel’s exit package so able to ring up record sales. know we’re really providing the here. But Mr. King said that will that he could “remain objective when facing the prospect of a sale and poten- This year, the stores are expected services, that we do everything our- change as it opens stores in other tial job elimination.” A spokesman didn’t respond to a request for comment. to generate about $16.5 million in selves.” areas. The lump-sum payment is small compared to the tens of millions Mr. revenues, up from $6 million six The thrift stores and other busi- “If we open retail outside of New McDaniel would pocket by cashing out options on 900,000 shares. years ago. In total, Housing Works’ nesses supply 36% of the nonprofit’s York City,that money will be direct- Still, it’s baffling why Moody’s board of directors deemed it necessary to businesses—which include 10 thrift funding,while 54% of it comes from ed toward advocacy that impacts on give Mr. McDaniel more money for doing what a CEO is paid to do. After stores, a bookstore café, a catering Medicaid and the rest from tradi- a national and international level,” all, the agency’s reputation has been deservedly hammered for so badly company and a property manage- tional fundraising. In New York, Mr. King said. Ⅲ bungling the rating of trillions in mortgages. Its share price has sunk by 31% since Mr. McDaniel took over in 2005. Warren Buffett, its biggest sharehold- er, has reduced his stake by almost half since mid-2008, ac- cording to Bloomberg data. But here’s one reason Moody’s may have gone the extra mile for Mr. McDaniel: Its compensation committee chair and lead independent director is Henry McKinnell (left), for- mer CEO of Pfizer.Mr.McKinnell was ousted from the drug company in 2006 for his lousy performance yet walked away

with a $180 million retirement package. bloomberg news photos

Unattractive IPO What’s not to like? Well, Dr. Park Ave.’s accountants warn there is “sub- for plastic surgery stantial doubt” that the company can continue as a “going concern,”because ALONG PARK AVENUE are scores of it hasn’t generated any revenue and plastic surgeons tending to the vari- has negative working capital. That’s cose veins and liposuction needs of not a huge concern—after all, Dr. the rich and indulgent. Now comes Park Ave.is a startup—but this could a chance to invest in be: More than half the initial public of- of its assets consists fering of such an of loans to several outfit, Dr. Park Ave. related parties— But this deal could presumably other use a Botox injec- doctors. Though tion of its own. the company ex- Dr. Park Ave., pects the parties to which aims to as- make good on their semble a network of buck ennis obligations, Dr. cosmetic surgeons, touts its IPO by Park Ave. states that the loans aren’t saying “the demand for our services … secured and don’t pay interest. can only be described as explosive in One last thing:The stock won’t be nature.”It’s starting with a clinic to be listed on an exchange but will be acquired from majority shareholder quoted on the lightly regulated OTC Dr. Paul Fondacaro and heads into its of- Bulletin Board. Sounds like a Park fering with $215 million in assets. Avenue address to steer clear of. Ⅲ

THE DECLINE in the Standard & Poor’s 500 since the stock market 19% peaked in October 2007. Bad as that might sound, the index was 29% below its high-water mark at the beginning of 2010. Millions of people invest their 401(k) money in S&P 500 index funds, which suggests that many retirement plans still face a long road to recovery.

4 | Crain’s New York Business | January 3, 2011 CN014164 12/28/10 2:30 PM Page 1

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JOIN CRAIN’S NEW YORK,NEW YORK ADVISORY edited by Valerie Block PANEL Greece ships a bit of history PIECE OF HISTORY from ancient AGreece is coming to New York City, and it’s not headed for the Metropolitan Museum of Art. Looking for readers to share A group of businesspeople and views and opinions. maritime experts are bringing the H.N. Olympias, a reproduction of a trireme, to the South Street Seaport in the summer of 2012. Powered by oarsmen, triremes were used as warships in the fifth century and played a key role in saving Greek civilization from Persian rule. “We want to row Olympias around the Sign up for FREE today. Statue of Liberty because it represents www.crainsnewyork.com/advisory freedom,” said Ford Weiskittel, a retired classics professor at Hobart and William Smith Colleges, who is helping to lead the 2-year- old initiative. CRAIN’S NEW YORK BUSINESS It’s hoped that the project will spur tourism much like Olafur Eliasson’s Waterfalls did in 2008.The South Street Seaport Museum is planning an exhibit on triremes, and is expected to host a conference on the historical role of these warships. Olympias is due to start its journey to New York from Athens next January and to undergo about $100,000 worth of repairs when it arrives. All the group needs now is $2 million and 170 volunteer oarsmen to make the venture succeed.Trireme Trust USA, a nonprofit, has secured $500,000 and free shipping to get the boat to New York. A fundraiser is planned for May. Among the heavy hitters supporting the project are television broadcaster Ernie Anastos and billionaire John Catsimatidis. “Finding housing for the rowers will be our biggest expense,” said Mr. Weiskittel, who is seeking an international team. One oarswoman on board is Sybil Nestor, a 73 year-old New Yorker who has rowed the trireme in Athens and London for a special exhibit in 1993.“I’ve started to train already,” she said. million copies in trade paperback When the The Larsson bump through week 51 of 2010. It also show goes on RANDOM HOUSE should send made the list in mass-market hiatus from Jan Get the latest news and vital coverage of New York’s Sweden a note of appreciation. paperback. The Girl who Played 9 through Feb. political and health care fronts. Thanks to the trio of thrillers with Fire, the second installment 1, some folks by late Swedish journalist-turned- of Mr. Larsson’s Millennium might consider b l novelist Stieg Larsson, as well as Trilogy, was also a top seller in o checking out o The top political figures and health care executives of New York George W. Bush m ’s memoir, Decision both paperback formats. be Merchant in rg depend on these web-only newsletters for breaking news and Points, Random House dominated Decision Points sold 1.6 million news Yiddish. Yes, information in this new, fresh format on crainsnewyork.com. the Nielsen BookScan list of best- copies in hardcover, putting it in Shakespeare’s anti- sellers for 2010 as of late second place. Semitic classic was translated into December, occupying six of 10 Nielsen covers about 75% of the Jewish dialect more than a places. the market but does not track century ago and even played on The Girl with the Dragon Tattoo e-book sales, which tend to be Broadway in 1901. came in at No. 1, selling 2.2 strongest for best-sellers. Random For one night only, Jan. 13, the House has said that close to 20% New Yiddish Rep will stage a SOME LIKE IT S&M of Millennium Trilogy sales have reading of that translation, a daily newsletter on the business of health care been digital. featuring actor David Madelbaum COUPLES SEEKING a little kinky “Random House had a great (below) as Shylock, fun can check into Murray Hill’s year,” said publishing consultant at the Center for Hotel Giraffe. The property is Lorraine Shanley. “But in terms of Jewish History offering sexy specials that saying [Random House] in Chelsea. include extras like Add Magic dominated the best-seller list, I’d Other say Stieg Larsson did.” Yiddish stars a daily newsletter on government lubricant, action of importance to business joining that All Tied Up g e o night will r g bonding e How do you say include Hy Wolfe, x tape and en Leyzer Burko and os Turn Me On ‘pound of flesh’? Amanda “Miryem-Khaye” Siegel. Free vibrating Log on to crainsnewyork.com THE STUNNING performance of Al admission makes it more than a panties. Pacino (above right) as Shylock in bargain. For reservations, go to and subscribe to Crain’s Health Pulse Package the Public Theater’s production of yivo.org/reservations or call rates start Merchant of Venice has made it the (917) 606-8290. and Crain’s Insider. at $255 a hottest ticket on Broadway.The night. run, which was extended for three Contributors: Lisa Fickenscher, weeks, is now set to close Feb. 20. Matthew Flamm

6 | Crain’s New York Business | January 3, 2011 20110103-NEWS--0007-NAT-CCI-CN_-- 12/29/2010 3:46 PM Page 1

NEIGHBORHOOD JOURNAL New recipe for former bakery site

5,000-square-foot Citarella grocery Knuckles,chief executive of the Up- ment, has blamed the deteriorated City seeks proposals store, the development and jobs per Manhattan Empowerment condition of the buildings for the for six Harlem never materialized. Zone Development Corp. fact that the vast bulk of its prom- Finally,after a deadline for an ex- Mr. Knuckles, who also sits on ised development and jobs never buildings; rezoning tension on the development had the City Planning Commission, materialized. long passed, 18 months ago the said the 2008 rezoning of the 125th Nonetheless, the company is in the works city’s Economic Development Street corridor purposefully skipped fighting the city’s attempt to oust it Corp. decided to use a take-back over the former bakery site, which is from the site in court. BY COLBY HAMILTON provision in the contract and pull zoned for manufacturing,in order to the plug on Citarella. Last month, preserve the few manufacturing jobs ‘Jobs weren’t developed’ HEN THE CITY the EDC issued a request to devel- left in the area. AT THIS POINT, the company has few sold the former opers, seeking their proposals for Currently, an MTA bus garage allies in its legal contest. Taystee Bakery the 134,000-square-foot site, where and a mixed-use building housing “I know one thing,” said Coun-

complex—half a the last loaf of bread left the ovens offices, light industry, warehouse cilman Robert Jackson, whose dis- hamilton colby dozen buildings more than 30 years ago. and retail spaces operate near the trict includes the site. “I know jobs THERE TO STAY? Citarella is fighting the city’s onW West 125th and West 126th The move comes in advance of a shuttered bakery. weren’t developed like they were attempt to oust it from the Harlem site. streets between Amsterdam Avenue massive rezoning of West Harlem. Originally,Citarella had planned supposed to be.” and Convent Avenue in Harlem— In 2008, the Department of City to complete renovations of the According to both City Plan- to upscale grocer Citarella, the hope Planning began a zoning study of buildings by May 2003. At that ning and the EDC, the vast bulk of people have for proposals that was that the move would help revi- approximately 90 blocks in the area, point, the company was going to the lot, which is currently zoned for would meet the needs of the com- talize the area. Citarella owner and the agency expects to formally shift most of its production and light industry, would change to a munity,” the spokeswoman said. Joseph Gurrera had promised not propose a rezoning by mid-2011. warehouse facilities there. mixed-use designation in a rezon- City Planning held a town hall simply to open a store there but to That move, coupled with the belat- “The 126th Street site is far su- ing. This would allow for commer- meeting on its proposed West develop the site for everything from ed decision to find a new develop- perior to anything we’ve had to date cial, community and residential fa- Harlem rezoning early last month. office space and warehousing to ment partner at the Taystee Bakery for our food and pastry operation,” cilities. While some expressed concern food preparation—bringing scores site, shows that revitalizing Harlem said Mr. Gurrera in a 1999 press re- Who or what will ultimately find about the scale of residential devel- of jobs in the process. remains a top priority for the lease announcing the deal. “It will a home in the former bakery re- opment,leaders including Mr.Jack- That was in 1999. More than a Bloomberg administration. provide us the solid base we need to mains uncertain. The deadline for son and Borough President Scott decade later, the city wants to give support our growth, and we’re look- applications is Jan. 19, 2011, and Stringer support the proposal. someone else a try, and with good Backed by city ing forward to becoming an anchor while a spokeswoman for the EDC “It’s better to have development reason.With the exception of a por- “WE KNOW the aspirations that the employer for the community.” wouldn’t discuss details, she said the than have an empty building sitting tion of ground floor space along city has for the area, and we share In published accounts,Citarella, agency was looking forward to the there,” said Mr. Jackson. “This is an West 125th Street that includes a those aspirations,” said Kenneth which didn’t return calls for com- process. “We want to see what ideas empty building sitting there.” Ⅲ

January 3, 2011 | Crain’s New York Business | 7 20110103-NEWS--0008-NAT-CCI-CN_-- 12/29/2010 3:52 PM Page 1

THE INSIDER by Erik Engquist and Jeremy Smerd Fearless Predictions for 2011 STATE CITY THE POLITICAL GOVERNMENT GOVERNMENT SCENE BEST-CASE SCENARIO BEST-CASE SCENARIO BEST-CASE SCENARIO Cowed by new Gov. Andrew Mayor Michael Bloomberg and Reps. and Cuomo’s can-do attitude and authorities recover tens of Edolphus Towns announce they popular support, not to millions of dollars stolen or will not seek re-election, mention the state’s slumping wasted by CityTime giving upper Manhattan and tax revenues, special interests consultants. City Hall, the central Brooklyn voters a focus on solutions rather building trades and left-wing chance to elect energetic than marketing campaigns activists set aside living wage replacements in 2012. to preserve the status quo. legislation and revive the Former state Sen. Pedro Medicaid gets an overhaul, Kingsbridge Armory project. Espada Jr. is convicted and saving billions of dollars Willets Point litigation is forced to pay back every cent while improving health resolved and redevelopment he is accused of stealing. outcomes. State aid to lawmakers and publicly moves forward there and at administration’s energy and Judges get a raise, and state Republicans change federal wealthy school districts is chides them. Legislators Hudson Yards.Tax revenues ultimately fails again. legislators don’t. Senate funding formulas to punish zeroed out.The Legislature arch their backs and dig in, pick up and budget cuts of Republicans stick to their blue states like New York. passes a stronger ethics forcing Mr. Cuomo to past years are restored. THE INSIDER PREDICTS pledge to demand reform, approves gay implement his own budget CityTime tarnishes Mr. nonpartisan redistricting, THE INSIDER PREDICTS marriage and reopens city via emergency spending WORST-CASE SCENARIO Bloomberg’s legacy but does ending gerrymandering for Assemblyman Keith Wright Off-Track Betting parlors. bills. Lawmakers reject CityTime blows up and not stop him from pursuing good. and Councilwoman Inez them, and the government torpedoes Mr. Bloomberg’s his agenda with modest Dickens spend 2011 jockeying WORST-CASE SCENARIO shuts down. third term like the Parking results.Teachers get WORST-CASE SCENARIO for Mr. Rangel’s seat and his The allegedly new and Violations Bureau scandal staggered raises starting at Mr. Rangel files petitions to endorsement. Mr. improved Albany, with Mr. THE INSIDER PREDICTS sank Ed Koch.Teachers win 1.5% in exchange for run again, then drops out Bloomberg promotes Taxi Cuomo in the governor’s This is Albany—expect the retroactive pay raises, reforming the termination and picks David Paterson to and Limousine Commission office and Republicans back worst. Mr. Cuomo picks triggering layoffs that boost procedure.The new deputy replace him on the ballot. chief David Yassky to deputy in charge of the state Senate, some low-hanging fruit, class sizes, and schools mayors roll out some fresh Mr.Towns does the same for mayor for legal affairs to begins to look a lot like the passing anti-corruption Chancellor Cathleen Black ideas to reduce bureaucratic his son, Assemblyman Darryl replace Carol Robles-Román, old one. Assembly legislation in exchange for a adopts a child and sends her inefficiency, and public Towns. A GOP state senator who moves over to the Democrats and Senate pay raise for legislators. But to boarding school in Maine. employees agree to a slightly vacates his seat, throwing the Bloomberg Foundation. Republicans find they the camaraderie quickly Mr. Bloomberg and his less generous new pension chamber into chaos, from Gov. keeps Jay cannot agree on much of fades, and a long slog ensues. transportation chief, Janette tier.There’s no deal on living which Democratic wheeler- Walder as head of the anything.The frustrated Dreams of reform give way Sadik-Khan, launch another wage, but Walmart scores its dealer Carl Kruger emerges as Metropolitan Transportation governor loses his patience to Obama-like push for congestion pricing first city store. majority leader. In Authority. with the squabbling compromises. that drains the Washington, House POLS’ WISH LISTS FOR THE NEW YEAR Former Gov. David Paterson: I forsake politics and become a radio host. Behind the microphone, I can do no harm and don’t have to manage people. My radio show will give me a pulpit without actual power—kind of like when I was a state senator. And when “Shelly from lower Manhattan” calls in, I will chew him out and hang up on him. Mayor Michael Bloomberg: President ’s Indonesian birth certificate mysteriously shows up, taking him out of the 2012 race. The Republicans nominate Sarah Palin and the Democrats choose Rep. Dennis Kucinich, clearing the political middle for me to spend $2 billion on a White House run. I find the money in the cushions of my couch. Rep. Jerrold Nadler: Ray LaHood retires, and I am appointed U.S. transportation secretary, thereby avoiding the indignities of a Republican-controlled House of Representatives. I finally build my cross-harbor rail freight tunnel. City Council Speaker Christine Quinn: To avoid proving yet again that a council boss cannot win a mayoral election, I find a clever way to bow out of the 2013 race: I am nominated by Democratic officials to succeed when he gets his dream job as transportation czar. City Comptroller John Liu: I become the front-runner in the 2013 mayoral race when Christine Quinn moves to Congress, CityTime kickbacks are traced to Rep. Anthony Weiner and Pub- lic Advocate , and Scott Stringer moves to Con- necticut to protest the defeat of another marriage-equality bill. GOP state Chairman Edward Cox: I recruit a Republican who can actually win statewide office, persuading Diana Taylor, Mayor Michael Bloomberg’s girlfriend, to challenge Sen. Kirsten Gillibrand in 2012. I raise enough money to make the next governor’s race competitive so I don’t have to persuade suburban Democrats to switch parties and trigger intra-party mutiny. I put my bus up for auction on eBay (like Sarah Palin did with Alaska’s plane), become a darling of the right wing and land a book deal. credits: bloomberg news, newscom, times union

8 | Crain’s New York Business | January 3, 2011 20110103-NEWS--0009-NAT-CCI-CN_-- 12/29/2010 3:55 PM Page 1

SMALL BUSINESS

“Once they are on the job, these employees have already been Job training program changes lives through very specialized training and mentoring, and are ready to “[The experience] changed me work,” Mr. Hunter said. Fedcap teaches completely,” said the Yonkers resi- READY TO WORK: skills, creates small dent.“I can provide for my family— Fedcap’s employees It takes time have been through STEVE COONS two children and one on the way. I training and , director of building businesses to help go on vacation. I pay my bills.” mentoring. services for Fedcap,said his business the disadvantaged Empowering the disadvantaged requires four field counselors and by giving them jobs is Fedcap’s mis- two job coaches to deal with any dif- sion.The organization was founded ficulties front-line employees expe- BY EILENE ZIMMERMAN 75 years ago by a group of war vet- rience.“It’s extra personnel,but over erans who feared their severe in- a period of time our employees be- HILE GROWING UP juries would prevent them from come self-sufficient and very con- in the South working again. In the 1930s and sistent and reliable,” he said. “It’s an Bronx, Fernando 1940s, Fedcap became a job shop added cost that a traditional small Santiago strug- where veterans performed manual business owner wouldn’t expect, but gled in school and labor, assembly and manufacturing it works for us—we’re profitable.” woundW up in special education class- for other businesses. In the 1950s, it Next month, Fedcap hopes to es. Although he could learn quickly introduced job training. open its new South Bronx head- through hands-on instruction and quarters, in the historic Bank Note repetition, it was tough for him to Easier said than done Building in Hunts Point. Unem- find a job as an adult—until he MANY ORGANIZATIONS have tried to ployment in the area is about 40%, turned to Fedcap for help. create jobs for the disadvantaged.As said Ms. McMahon. By expanding Fedcap, with headquarters in some have found,though,it’s not al- its document business there,Fedcap Manhattan, is a nonprofit that pro- ways easy to deliver on that promise. aims to provide 150 jobs. vides training, job placement and Even well-meaning employers may The Bronx is also home to a employment to those with mental, not be able to hire in tough econom- ment-management services to the ployees was “purely business,” he growing number of veterans from physical, educational or economic ic times. Department of Defense, which pur- said. “Even though there are points Iraq and Afghanistan—there are disadvantages. About 25 agencies Fedcap’s strategy has been to cre- chases safety products from Fedcap’s where we do spend more time and nearly 17,000 in New York City. and programs in New York City re- ate a number of small businesses un- Manhattan manufacturing facility. money on training than we would Disabled veterans are still one of fer job seekers to the organization. der its umbrella, in facilities man- Richard Tamaro, president of with a more mainstream popula- Fedcap’s core constituencies. Mr. Santiago started Fedcap’s agement, document management, Caso, a document-management tion, we make it up in consistency, “We are also working to under- custodial training program seven manufacturing, food services and business ,contracts with Fedcap.He productivity and accuracy.” stand the skills and assets these un- years ago and got a job in facilities home health care. They contract believes in the organization’s mis- Melvin Hunter, who manages employed veterans bring to the maintenance at the Statue of Liber- their services to other firms sion, but his decision to use its em- Fedcap’s document-management table, so we can develop targeted ty and Ellis Island. Fedcap handles throughout the city, employing business, said the training curricu- business opportunities for them,” grounds maintenance at those prop- about 1,300 people, said Christine To sign up for Crain’s lum accommodates workers with Ms. McMahon said. erties,employing about 600 workers McMahon, Fedcap’s president. SMALL BUSINESS newsletter, go to special needs.The organization also That’s not an easy task in today’s there. Mr. Santiago worked his way Clients of its enterprises range www.crainsnewyork.com/smallbiz. works with employees to help them economy, but it’s one that Fedcap up to project manager in 2009. from the law firms that need docu- map career plans. has a lot of experience in tackling. Ⅲ

Real Estate Deals Plus 12th-floor space was $30 a square asking rent for the space, which in- Adspace forced foot. The landlord of both buildings cludes a 500-square-foot basement, to add space is the Kaufman Organization. Ste- was $93 a square foot. ven Kaufman and Barbara Raskob This will be Lolë’s first freestand- For investors, ADSPACE NETWORKS, which sells ad- represented the landlord in-house. ing store in the U.S., though the re- vertising that runs on its in-mall TV “The idea of moving twice is dis- tailer already sells at ski and sports network, signed a 10-year lease for ruptive and expensive,but they fell in shops. The TriBeCa store should be 10,800 square feet at 99 Park Ave. love with the space,” said Michael open for business next month. good times ahead The asking rent wasn’t disclosed, Kaufman of the Kaufman Organiza- Sinvin Real Estate broker Rox- but the average asking rent at that tion,who represented the tenant.“It’s anne Betesh represented both the address is $46 a square foot, accord- an advantageous deal for them.They tenant and landlord Basile Builders. HE NEW YEAR IS SHAPING UP to be a good one for ing to CoStar Group. got what they wanted.” —adrianne pasquarelli real estate investors. The landlord, Eastgate Realty, is —amanda fung Capital is flowing back into the market, and prebuilding the site for Adspace on Eatery inks second a portion of the third floor of the 26- Canadian retailer even more leverage is available on the borrowed story building, and Adspace will lease on Madison funds. move in by the end of March. opens U.S. outpost The improving economy is creating a more stable Steve Bauer and Paul Glickman THE MOINIAN GROUP has filled all re- T of Cushman & Wakefield negotiat- LOLË, a Canadian activewear com- tail space at 60 Madison Ave. now that environment for real estate lending, according to experts. And ed on behalf of the landlord. David pany that sells everything from biki- Café Today has inked a 15-year deal insurance companies are receiving an extra push to get back Dusek and Ryan McKinney of nis to women’s coats,recently signed with a five-year option for 5,500 into the market because the return on stable, cash-producing Studley represented the tenant. a three-year lease for 1,600 square square feet of ground-floor space properties outdistances the skimpier rewards of government —marine cole feet at 32 Hubert St. in TriBeCa. The and a 2,500-square-foot lower level. The asking rent was $110 a square and corporate bonds, said David Twardock, president of foot and $45 a square foot, respec- Prudential Mortgage Capital Co. Staffing agency TOWER FACTS tively. Work on the build-out is due to signs on Seventh NUMBER OF MANHATTAN “Confidence has returned,” said 2006 and 2007. start soon. The café is expected to OFFICE TOWERS SOLD IN Mr. Twardock. He added, however, Mr. Twardock said that he’s sur- INFINITY CONSULTING SOLUTIONS open in about six months,according that construction projects or trou- prised at how quickly the market has re- will be moving to new office space in 2010 THROUGH NOV. 10 to Tony Park, executive vice presi- bled properties that fail to produce bounded,but he doesn’t think that we the garment district. The staffing dent of retail at PD Properties, who adequate cash flow will still have a are headed for another real estate and consulting agency has signed a represented it. difficult time finding lenders. bubble, primarily because the mar- 10-year lease for 9,750 square feet at Café Today, which is also open- 462 Seventh Ave. 64 Investors in stable properties can ket remains moribund for collater- The firm will occu- ing an outpost at Madison Avenue now borrow about 10 times the alized debt obligation. Those spe- py the entire second floor. The ask- AVERAGE PRICE PER and East 53rd Street,plans to estab- amount of a property’s cash flow, up cialized debt structures helped ing rent for the space was $35 a SQUARE FOOT lish 10 Manhattan locations over from six or seven times cash flow provide ancillary financing to buy square foot. the next two years. during the depths of the recession, buildings. As part of the deal, ICS signed a Kimia Shadrokh, director of Mr. Twardock said. “If we get any higher than where one-year lease for 6,500 square feet at commercial assets for The Moinian However, that’s still below the we are now, I think lending will be nearby 242 W. 36th St. because its $414 Group, negotiated the lease on be- loans being made at 12 to 14 times too aggressive,” said Mr. Twardock. new space won’t be ready until the Source: Real Capital Analytics half of the group. cash flow during the heady days of —theresa agovino summer. The asking rent for that —laura mortkowitz

January 3, 2011 | Crain’s New York Business | 9 20110103-NEWS--0010-NAT-CCI-CN_-- 12/29/2010 3:57Reminder: PM Page 1 rag right text

VIEWPOINT Property tax cap’s time is now editor in chief Rance Crain publisher, vp Jill R. Kaplan t’s a typical scenario: A young couple with a necessary component of government revenue, because healthy household income buys a suburban they don’t fluctuate wildly along with the economy. EDITORIAL editor Xana Antunes home with separate bedrooms for the kids and But soaring property taxes outside New York City have managing editor Glenn Coleman a yard for the dog.The property taxes are high, made the state less competitive—and that hurts the city deputy managing editors Valerie Block, Erik Ipsen but the family can afford them, and their kids as well. contributing editor attend the spiffy local schools where the bulk of New York needs a hard, across-the-board cap to curb Elaine Pofeldt columnists Greg David, Alair Townsend the taxes go. suburban school spending.This will require political politics editor Erik Engquist pulse editor Barbara Benson Over the years, unrestrained spending by the school compromise and cooperation, which are elusive in Albany, to senior reporters Theresa Agovino, district balloons the family’s tax bill.The schools are still say the least. But there’s momentum to pass a tax cap, based Aaron Elstein, Lisa Fickenscher, I Matthew Flamm, Miriam Kreinin Souccar top-notch, which keeps their home valuable—but they’re on Mr. Cuomo’s election and New Yorkers’ economic reporters Marine Cole, Amanda Fung, not selling it, and meanwhile, the kids have grown up. struggles. Daniel Massey, Adrianne Pasquarelli, Hilary Potkewitz, Jeremy Smerd Such situations have triggered a growing outcry from Assembly Democrats must not limit their support to a art director Steven Krupinski property owners, making property taxes the top issue for circuit breaker. Senate deputy art directors Carolyn McClain, Daniel Mednick millions statewide. In response, Gov. Andrew Cuomo and Passing a cap Republicans, now back staff photographer Buck Ennis suburban and upstate senators are demanding a cap on in the majority, can’t copy desk chief Wendy Zuckerman copy editor Thaddeus Rutkowski annual property tax increases. will require keep kowtowing to research editor Dana Gordon Assembly Democrats, prodded by the Working Families spoiled school districts, assistant research editor Suzanne Panara compromise. www.crainsnewyork.com Party, also want to curb property taxes, but only for owners as they’ve done for two senior producer, news Elisabeth Butler Cordova with low incomes.They favor a soft cap with a “circuit But there is decades. Mr. Cuomo senior producer, projects Kira Bindrim breaker” that freezes a tax bill when it reaches a certain must stick to his guns, EDITORIAL AND ADVERTISING OFFICES percentage of a household’s income. momentum not just to restore 711 Third Ave., New York, NY 10017-5806 editorial: 212.210.0277 Fax 212.210.0799 A circuit breaker alone won’t rein in free-spending school balance to property advertising: 212.210.0259 Cable craincom nyk districts. It will simply shift more of the tax burden to the taxes but also because Fax 212.210.0499 middle class and commercial property owners. backing down on an Entire contents ©copyright 2011 Crain Communications Inc. All rights reserved. New York City voters are less focused on the issue because issue that has such strong public support would jeopardize ®CityBusiness is a registered trademark of MCP their property taxes are low, and anyhow, the city is likely to the rest of his agenda. Inc., used under license agreement. be exempted from a cap.That has given city-based Assembly Education interests will howl, but they can’t be allowed to TO SUBSCRIBE: members carte blanche to ally with teachers unions in treat the state’s property tax base as a no-limit ATM. For Call 888.909.9111; fax 313.446.6777. $3.00 a copy, $59.79 one year, $109.79 two years. opposing any cap not based on the narrow circuit-breaker their part, counties, which take the second-largest chunk of www.crainsnewyork.com

model.They want schools to keep spending. property tax payments, must aim to lower their expenses by ADVERTISING AND MARKETING The status quo is unacceptable. It’s true that property pushing for Medicaid and pension reform. advertising director Trish Henry taxes keep the housing market efficient by aligning A strong cap is a crucial ingredient in New York’s recipe senior account managers Irene Bar-Am, Courtney McCombs, William E. Squitieri residents with properties they can afford. And they are a for reform, and 2011 is the year to enact one. account executive Anthony Mowad sales manager, classified print & online John Gallagher sales coordinator, print & online Lulé Haznedari CRAIN’S ONLINE POLL COMMENTS newsletter product manager Alexis Sinclair credit Todd J. Masura 313.446.6097 WHO WILL BE marketing director Amy Crossman assistant marketing manager REMEMBERED AS, IN Sabra Harrison Teachers union’s math director, audience development BLOOMBERG’S WORDS, John LaMarca BACK TO SCHOOL ON PENSIONS throughout the city, especially the bike lanes on senior audience development manager ‘THE GREATEST MAYOR Columbus Avenue and the pedestrianization of Tarek Cotran TWO BRIEF POINTS on the opinion column by Times Square (Crain’s, Nov. 22). Business EVER’? general manager, interactive teachers union President Michael Mulgrew owners looking at the few slightly Marc Minardo Date of poll: Dec. 13 (“City pensions: fact and friction,” Dec. 6): inconvenienced car-borne customers ignore the web developer, interactive 282 votes Mr. Mulgrew uses average current overwhelming majority of non-car-using Chris O’Donnell pensions paid, but these reflect many past customers who now flock to these areas because NEW YORK PRODUCTION Bloomberg . retirees whose pensions were based on their far they have become more attractive and safe. 26% production and pre-press director lower past salaries.The future pensions of Shame on them for their shortsighted criticism! Michael Corsi

current employees are very generous compared —w. von engel advertising production manager 23%. with other employment opportunities—as is Suzanne Fleischman Wies

Giuliani . 35% demonstrated by the extremely low “quit rate” of MS. SADIK-KHAN and her bike lanes have turned

municipal pre-retirees. the city into a nightmare. How many tourists PUBLISHED BY CRAIN COMMUNICATIONS INC.

Keith E. Crain 11%. Mr. Mulgrew sees upper-income city walk along First Avenue, where there are chairman

taxpayers as docile milking cows.The city bicycles in the left lane and cars parking in the president Rance Crain

secretary Merrilee Crain . 2% 3%. La Guardia already drives away a large proportion of second lane? The other night there were just two treasurer Mary Kay Crain affluent retirees—including former city lanes open in front of NYU Hospital, with executive vp, operations William Morrow Koch workers—with high municipal and state taxes. backed-up traffic all the way to 14th Street.The senior vp, group publisher Gloria Scoby Dinkins Jack up the top brackets appreciably, as Mr. next mayoral candidate will win in a landslide by group vp, technology, circulation, Other manufacturing Robert C. Adams Mulgrew argues for, and let’s see whether you advocating the removal of all these ego trips vice president/production & can start to do serious damage to mobile from a woman who clearly hates New York. manufacturing David Kamis professionals and new business formation. —quentin keynes chief information officer Paul Dalpiaz —paul j. isaac corporate circulation/audience development director Kathy Henry CRAIN’S WELCOMES SUBMISSIONS to its opinion founder G.D. Crain Jr. (1885-1973) bloomberg news MORE ON COMMISSIONER OF BIKES pages. Send letters to [email protected]. For this week’s questions: Go to Send columns of 475 words or fewer to chairman Mrs. G.D. Crain Jr. (1911-1996) www.crainsnewyork.com/poll to have your say. I AM FERVENT in my support for Transportation [email protected]. Please include the writer’s Commissioner Janette Sadik-Khan’s changes name, company, address and telephone number.

10 | Crain’s New York Business | January 3, 2011 20110103-NEWS--0011-NAT-CCI-CN_-- 12/29/2010 3:58 PM Page 1

ECONOMIC OUTLOOK INSIDE Greg David on what’s driving the city’s unemployment rate PAGE 12 Brooklyn vs. the Bronx: One borough stars; the other slumps PAGE 12 Small businesses get creative PAGE 14 The 2 worlds of young adults Unemployment soars among New York’s homegrown job-seekers; newcomers find that education, connections bring fortune

SANDWICH GENERATION: Kianna May Flowers’ summer job placement didn’t pan out long-term. She now works at a food shop through an internship program.

BRUSH WITH FATE: Colgate grad Safwan Shabab parlayed a summer position into a two-year assignment as an analyst at an investment bank. photos by buckphotos ennis

on the career ladder, represents the other side of this tale of two cities. BY LISA RIORDAN SEVILLE New York’s economic recovery has far outpaced that of the rest of the ONDAY MORNINGS, 22-year-old Safwan Shabab heads to country.The city added 60,000 positions in 2010, giving it a job-growth his job at an investment bank. Eighteen-year-old Kianna rate three times higher than the nation’s, according to real estate firm May Flowers reports to work as an intern at a sandwich Eastern Consolidated. Growth helped nudge down the unemployment shop. rate to 9.1% in November, from 10.5% a year before. Mr. Shabab is one of the lucky young professionals who Yet the gains obscure a more complicated reality.The recession appears Mmoved to New York after graduating from college and landed a promising to have widened the chasm traceable to education, especially among the job in finance or professional services. Ms. Flowers, struggling to get a foot See 2 WORLDS on Page 14

JOBLESS RATES BY AGE JOBLESS RATES AMONG YOUNG MEN Unemployment in NYC based on age group 16-19 20-24 All ages 50%+ Unemployment levels for males aged 16 to 24 in NYC as of June 2010 SHARE of NYU 2009 grads employed full-time in NYC when surveyed in Jan. 2010 143,000 APPLICANTS to NYC’s 2010 summer youth jobs program; 35,725 were accepted Data are the latest available. Source: NYS Department of Labor Source: Community Service Society of New York

January 3, 2011 | Crain’s New York Business | 11 20110103-NEWS--0012,0013-NAT-CCI-CN_-- 12/29/2010 4:01 PM Page 1

REPORT ECONOMIC OUTLOOK Answer to city’s high jobless B’klyn serving as s rate is behind the numbers

EW YORK CITY’S economic performance last year versial idea. The bottom line is that was among the best in the nation. So why is the the unemployment rate is high be- cause the work force is expanding unemployment rate here still so high, and why do and because many people are choos- some forecasters believe New York’s economy will ing not to take the jobs that are avail- not be as strong in 2011? able. It isn’t a good measure of the The jobless rate is bewildering.The city’s rate is 9.1%, which economy’s strength. N Getting behind the numbers is suggests that many people can’t find jobs. also a key to understanding why It is more complicated than that.The federal Bureau of Labor both City Comptroller John Liu Statistics determines the rate not by tabulating unemployment and the Independent Budget Office have forecast slower growth this claims or monitoring layoffs but force, the unemployment rate for- year than in 2010. (The Bloomberg through a monthly telephone survey mula (work force, minus number of administration hasn’t yet made a of 60,000 households. It doesn’t ask employed, divided by the work forecast.) the simple question “Do force) produces an Their reasoning: a weak national you have a job?” but pos- alarming result. economy hamstrung by reluctant es a series of questions,in- Unemployment consumers will be a drag on New cluding “How many benefits, now available York City.Mr.Liu even says that the hours did you work last for almost two years, U.S. economy is the single most im- month?” and “Have you also act to keep the un- portant factor in what happens in gone on a job interview?” employment rate high- New York. Only people who er than it might other- That’s simply not true historical- have a job or who are wise be.Economists say ly.Each major national downturn of prospecting for one are that workers who lose the past 50 years was either much counted in the work their job have a “reser- worse or much less severe in the force. So as an economy vation wage”—the low- city—depending on local elements. improves and more peo- GREG est salary they are will- For example, the 1982 recession, ple start looking for jobs, DAVID ing to accept.As long as in which national unemployment the reported unemploy- workers receive jobless exceeded 10%, barely touched New ment rate goes up. That pay, they tend to insist York because the financial services is what has happened in New York. on their reservation wage. When sector was unaffected. Similarly,the Additionally, thousands of peo- benefits end, they are more likely to most recent recession was relatively ple have moved to the city because adjust their expectations. mild because Washington bailed it’s one of the few places with a This phenomenon is particularly out Wall Street and tourists flocked strong economy. New York remains important now, with the economy here in near-record numbers. a magnet for aspiring graduates, as creating many structurally unem- The strength of the city’s eco- the first story in this section makes ployed—those whose skills are not nomic performance this year will be clear, and immigration continues to attractive to employers. Older largely guided by two key variables: bolster ethnic communities. That’s workers presumably make up the Wall Street and the extent of gov- why the work force topped 4 million largest percentage of this group and ernment layoffs. Whatever hap- for the first time in decades during have the most difficulty accepting pens, New York is likely to take a the recession. lower-paying positions. path that’s different from the rest of Given the growth in the work The reservation wage is a contro- the nation. New tack needed a

NY TEEMS WITH TOURISTS, SETTING SIGHTS ON 50M Kingsbridge shut its doors in Oc- Factory exodus, tober 2009, at a cost of 155 jobs. BACK IN 2006, when Mayor Michael Bloomberg failed armory deal Months later, Old London Foods announced a $30 million marketing campaign to attract closed down its Morris Park oper- 50 million visitors a year to New York City, his deadline for top list of problems ations and moved to Yadkinville, hitting the target was a modest 2015. Two years later, the N.C., eliminating 228 local jobs. city moved it up to 2012. BY AMY YENSI Among current worries are Despite the severe recession, the city appears likely to talks over how to revamp the pro- meet that goal and draw additional millions of tourists in HE BRONX NEEDS to re- duce market at Hunts Point: The future years. NYC & Company, the city’s marketing group, vamp the way it does co-op’s leaders are considering re- estimated a record-setting number of visitors for 2010: business if its economy is locating to New Jersey, which about 47.5 million, a 4% increase over 2009. to improve in 2011. would mean the loss of 2,400 and international tourists. Although foreigners accounted TThe unemployment rate in the members of the Bronx work force. Hotel occupancy has been rising, too. It reached 88% in September, a 13% gain versus September 2009, for less than 20% of the total in 2009, the organization borough stood at 12.4% in No- But the most significant missed and the average room rate hit $310 a night. A rebound expects to see that proportion increase as it reaps the vember, compared with the city’s opportunity to put people to work in business travel and a weak dollar, which drew reward of establishing 18 offices around the world. rate of 9.1%. Median household in the Bronx and keep them there income lags at $35,000, versus wasthe failure to reach a deal to de- foreigners here, helped boost all of the numbers. The U.K. and Canada remain the city’s largest feeder regions, but emerging markets such as China $56,000 citywide. The proportion velop the Kingsbridge Armory, The optimistic outlook is based on the tourism of residents living below the pover- following a high-stakes dispute industry’s plans to expand local facilities. and India could be major growth areas. New Yorkers may have come to take the ty line, 27%, is almost double the over whether to require tenants at Last summer, Delta Air Lines unveiled a 14% level for the New York City the proposed retail complex to pay strength of the tourism industry for granted, but $1.2 billion plan to enlarge its terminal population overall. a so-called living wage. at John F. Kennedy International Airport— back in 1985, the city attracted just 17 million visitors. The Bronx economy has been “The fact that it wasn’t devel- one of several major projects under way “I think we’ve gotten a lot better at promoting depressed for some time, but last oped for retail will hurt the bor- at area airports. Marriott, which has 20 ourselves,” said John Fox, a senior vice year, as the exodus of larger com- ough,” said local Assemblyman New York hotels, announced plans in the president with PKF Consulting. “In New panies accelerated and the gap Michael Benjamin.“We can’t con- fall to open another 13. York, we don’t see those ads or that with the rest of the city widened, stantly keep saying no while making Since setting its target of 50 million promotion, so we tend not to think about conditions hit a new low. And unreasonable demands. We need visitors, NYC & Company has pushed that much.” there may be worse to come. to put out the signal that the Bronx campaigns to appeal to both domestic —KERRI MACDONALD The Stella D’oro factory in is a good place to do business.” photos by buckphotos ennis

12 | Crain’s New York Business | January 3, 2011 20110103-NEWS--0012,0013-NAT-CCI-CN_-- 12/29/2010 4:02 PM Page 2

REPORT ECONOMIC OUTLOOK

that its real estate prices are low versus those in Manhattan. But s standard-bearer for city’s recovery with office rents from Wall Street to midtown in a slump, the bor- ough’s pricing is not as competitive space is now filling up with the as it was a few years ago. The Retailers, small firms headquarters of smaller publishers, decade-long rivalry with the Gar- flock to area, altering media enterprises, tech firms and den State also continues, as both health care startups. Jersey City and the state of New back-office model Consider Wireless Generation, Jersey offer commercial tenants an educational-software company hefty incentives. BY ANNIE BYRNES that recently relocated from Man- Several players might be able to hattan to Brooklyn. advance Brooklyn’s cause, though. ARELY A WEEK GOES BY “Brooklyn offered us more space Macy’s owns a crucial downtown these days without an an- at a better value, and we were also property, the former A&S head- nouncement that a new attracted to the type of space: open quarters building, which the re- retail outlet—such as spaces with high ceilings and a large tailer could do more to develop. BH&M, Whole Foods or trendy floor plan in converted industrial Nearby universities could take a fast-food spot Shake Shack—is space,” said Andrea Reibel, a vice bigger role by investing in econom- planned for Brooklyn. president.“Plus,we knew there was ic research on how to better the area Further demonstrating the bor- a lot of great talent here.” and boost business. Property own- ough’s renaissance, an array of new In fact, the vast majority of ers could offer smaller, and thus hotels is cropping up downtown, Wireless Generation’s employees more affordable, chunks of office and among the best-selling condo live in Brooklyn. space to entrepre- complexes citywide through Sep- The borough is neurs to help them tember of 2010, the top four were clearly at the forefront launch and grow their in Brooklyn. With development of the city’s economic companies. projects under way everywhere recovery. Its unem- 9.8% Brooklyn City from Greenpoint to Coney Island, ployment rate fell to JOBLESS RATE Councilwoman Leti- the borough is expected to have an- 9.8% in November, tia James sees the ma- other solid year in 2011. from 11.0% a year jor issue as that of bal- “The old model of Brooklyn as earlier. The number New York’s hip ancing the small the back office, with cheaper space of jobs increased by borough attracts businesses with the for major corporations, is past its 14,200 over the year big-name tenants bigger-name chains prime,” noted Alan Fishman, co- ended in October.Av- and looks for coming in, and mak- chairman of the Downtown erage home prices rose continued ing sure that her con- Brooklyn Partnership and chair- 7.2% in the third quar- diversity stituents have jobs at man of the Brooklyn Navy Yard ter over the same pe- those enterprises. Development Corp. riod in 2009. “As long as Shake These days, Brooklyn’s growing However, to Shack knows they hip factor is drawing creative types maintain an upward trend, New might be located next to a mom- from other parts of the city and all York’s most populous borough will and-pop sneaker outfit—if they’re across the country to do business need to keep diversifying its busi- OK,then I’m OK,”said Ms.James. here. While the majority of down- ness—a task that may prove diffi- “And Brooklyn will be all the bet- town Brooklyn commerce was cult, given the competition from ter for it.” once focused on processing and ad- across the river. The business and political lead- ministration tasks for Manhattan- One of Brooklyn’s biggest ers in the Bronx wish they had such Ⅲ bloomberg news based financial companies, office strengths has traditionally been problems. d as Bronx bombs

Others argue that it is time to the Bronx can play a key role in the turn to more innovative ideas to growth of health care,” said Gloria build up the borough. Kenny, assistant vice president of Miquela Craytor,executive direc- human resources at the hospital. “I tor of community group Sustainable would love to see more of a health South Bronx, notes that the armory care focus in high schools.” is close to universities and hospitals, Meanwhile, Ms. Craytor, who including Fordham works out of the former University and Mon- American Bank Note tefiore Medical Cen- building in Hunts ter. The facility could Point, is excited about serve as a research cen- 12.4% the city’s plans to invest ter for the field that her JOBLESS RATE in a business incubator organization focuses at the property. on, green technology, “The idea that new or for the health care The city’s poorest businesses can be industry. borough seeks formed and get their Health care, which ways to grow; start here really sym- accounts for more health care is one bolizes the idea that than half of the pri- promising industry the ground is fertile for vate-sector jobs in the growth,” she said. Bronx, is one industry The borough’s rep- with great growth po- utation remains a high tential. Montefiore, hurdle. CARROTS AND STICKS: the borough’s largest private em- “One of the big challenges is how The leaders of the Hunts ployer—which draws about 60% of to overcome the perceptions—those Point produce co-op are considering a move, which its workers from the Bronx—plans negative stereotypes that create a would eliminate 2,400 to expand its services over the next block to not only envisioning Bronx jobs. decade. change,but investing in it,”said Ms. Ⅲ “Political and business leaders in Craytor. bloomberg news

January 3, 2011 | Crain’s New York Business | 13 20110103-NEWS--0014-NAT-CCI-CN_-- 12/29/2010 4:03 PM Page 1

REPORT ECONOMIC OUTLOOK Small firms stay afloat

BOWLING FOR via cost cuts, creativity DOLLARS: John LaSpina increased discounts and Nancy Ploeger, president of the make our own products, incentives to keep Entrepreneurs ready patrons through the Manhattan Chamber of Com- and they’re unique. Cus- latest recession. to expand if banks, merce. “Business owners have hun- tomers love what we’re do- kered down and watched their ex- ing, and they come back.” government are able penses, and now they’re ready to One step that small to provide financing move forward.” businesses didn’t take to make it through the Combatting business slowdown crunch was relying on sup- BY EMILY LAVIN MANY ESTABLISHED businesspeople port from the city—even found creative ways to reduce costs as Mayor Michael Bloom- IN HIS 40 YEARS AS OWNER of Jib as regular customers kept a tighter berg and the City Council Lanes bowling alley in Flushing, grip on their wallets. pledged to make New Queens,John LaSpina has seen sev- “I basically got rid of my towel York an easier place in eral recessions come and go. The which to do business. most recent economic downturn The city came up with was the toughest one yet. The city’s efforts 14 measures last year to To drum up business, Mr. improve its relationship LaSpina started going to shops and to help have had with small business, in- restaurants near his five bowling al- cluding establishing an leys in Queens and Brooklyn and on little impact for owner’s bill of rights, Long Island, placing coupons for translating regulations free games. Last summer, from 3 business owners into easy-to-understand p.m. to 6 p.m. each day, he offered language and setting up a games for 99 cents instead of the website where owners can normal price of $4.50. And he has go for information about created a Jib Lanes Facebook page, various city agencies’rules. congratulating customers when service and started doing my own “Our hope is that small they bowl good games in order to towels,” said hairdresser Tara Cross, businesses will begin to buck ennis keep them coming back and foster a owner of Le Chandelier Salon in look to the council and the city for ready to consider expansion or to be- larger institutions about making sense of community. Park Slope, Brooklyn. “And I told help and as a resource,rather than as gin delayed renovation projects, loans to small businesses. Mean- “I’ve rarely discounted and done the cleaning lady I would do my own an enemy,” said Council Speaker money to grow remains difficult to while, the City Council developed incentives as much as I’ve done in cleaning.” Christine Quinn. obtain. Credit Ready NYC, a program de- the past two years,” Mr. LaSpina Other owners focused on devel- But most owners are still worried signed to help small businesses find said. oping a business niche.Nadia Geor- that fines, fees and regulations will Show them the money alternative lenders and to give firms At least his efforts have paid off. giou, owner of Brooklyn Junior, de- continue to plague them in 2011. “THE AVAILABILITY of capital is still rejected by banks a second chance to “Things are better,” Mr. LaSpina signs and sells children’s clothing. “I haven’t seen any signs of very,very bad,”said Edward Rogoff, obtain loans. Business owners say noted.“We haven’t had to lay anyone When she moved the business from change from the city,” said Idris chairman of the Department of they’re still waiting to see if either off. We’ve even added a few jobs.” her apartment to a retail space in Conry, owner of Abu’s Homestyle Management at Baruch College’s will make a difference. Like Mr. LaSpina, many other Fort Greene a year ago, she decided Bakery in Bedford-Stuyvesant, Zicklin School of Business. While Jib Lanes’ Mr. LaSpina is local operators of small companies to focus on offering goods and serv- Brooklyn. “Nothing gives me the It is unclear whether government willing to spend what is necessary to have survived by discounting, cut- ices not found at other stores, in- impression that they’re really reach- efforts to loosen credit will work. maintain his bowling alleys, he ting costs and carving out unique cluding setting up an interior area ing out to small businesses.” Last year, Congress approved Pres- won’t be taking on any big projects niches. Now that the city’s economy where people can view the design Uncertainty about support from ident Barack Obama’s proposal to or risky ventures. is expanding,they see brighter times process. the city isn’t the only obstacle that create a $30 billion lending fund for “Will I go out and find a patch of ahead. “We’re not competing with big small businesses will face this year. the nation’s community banks, dirt and build a big building on it? “I do think the worst is over,”said stores,” Ms. Georgiou said. “We While some owners say they are which are generally friendlier than No. Not yet,” he said. Ⅲ

cepted to the city’s 2010 Summer anti-poverty group, that features a Youth Employment Program. She detailed analysis of labor statistics. 2 worlds of young adult workers spent the summer as an office assis- The numbers were worse for young tant at the Boys & Girls Club, but men of color of all education levels: the organization could not take her 24.7% for Hispanics, and 33.5% for Continued from Page 11 Officials at Colgate’s Center for young New York residents face in- on full-time. When fall rolled non-Hispanic black men. And for city’s newest homegrown workers. Career Services says New York City creasingly long odds in getting po- around,her days of filling out online black youths without a high school Between 2008 and 2009, the un- is students’ destination of choice af- sitions that were once within their applications yielded nothing. diploma, the unemployment rate employment rate for New York City ter graduation, whether they have reach, even in the sectors tradition- “They look for people with expe- rose to 51.7%. residents aged 16 to 19 soared al- jobs or not. ally open to them. rience,” said Ms. Flowers, who now most 14 percentage points, to “Our students aren’t fazed by un- Retail, health services, and food interns at Cheeky Sandwiches on Danger signals 36.2%, according to the state De- certain job prospects, and Colgate’s and drink establishments account the Lower East Side through the DAVID R. JONES, president of the so- partment of Labor. For individuals alumni network remains committed for more than 27,000 of the jobs city-funded Young Adult Intern- ciety, said he is alarmed that these between 20 and 24, the rate rose to welcoming new graduates to the gained in the city over the past year. ship Program run by Henry Street numbers could indicate a coming more than 7 points, to 18.6%. city,” said Ursula Olender, director But older and more experienced Settlement. “What happens to kids “legion” of long-term unemployed The numbers would be even of the center. workers, rather than youths, have who don’t have experience?” in the city. higher if not for the college graduates scooped up many of these lower- Experts across the political spec- “We have the parameters of a sig- flooding into New York,a trend that Scholars’ success wage positions. trum are also worried about that is- nificant social problem,” remarked isn’t quantifiable but is attested to by SCHOOL SERVICES and connections “If you don’t have work experi- sue as the city begins to emerge from Mr. Jones.The combination of few- employers and real estate agents. also enable many who come here for ence or if you didn’t finish high the downturn. Studies have shown er taxpayers and more reliance on so- “Everyone goes out to New York college to stay after graduation. A school, your chances are pretty that a positive work experience cial programs, he said, may become to try their luck right after college,” survey of New York University’s much nil,” said Gregory Rideout, a before age 25 sets the tone for em- “a drag on the New York economy.” Mr. Shabab said. 2009 graduating class reported that deputy program officer at Henry ployment going forward. Early job- Conservatives are also concerned. Originally from Bangladesh,Mr. as of January 2010,more than half of Street Settlement, a New York City lessness can lead to a pattern of “Until the economy starts grow- Shabab moved to the city after grad- respondents were employed full- social services organization. long-term unemployment. ing again,teen unemployment is go- uating from Colgate University last time in New York City. Even young adults who have As of June 2010, the jobless rate ing to be significant,” said Diana summer. He had already landed his While individuals with higher support face an uphill battle. Ms. in the city for all young men 16 to 24 Furchtgott-Roth, a senior fellow at two-year position as an analyst at an education often use their college Flowers, a Manhattan native, was stood at 22.4%, according to an up- the Manhattan Institute, a conser- investment bank through a summer and graduate school networks to get one of the 35,725 individuals (among coming report by the Community vative think tank. “And it has long- internship. a leg up in the job market, many 143,000 applicants) who were ac- Service Society of New York, an term consequences.” Ⅲ

14 | Crain’s New York Business | January 3, 2011 20110103-NEWS--0015-NAT-CCI-CN_-- 12/29/2010 6:30 PM Page 1

REPORT ECONOMIC OUTLOOK

A recovery that’s treading water PAST AND PROLOGUE FROM BOOMS TO BUSTS Employment gains and losses since 1970, with forecasts through 2015. Continued from Page 1 ning a sustained turnaround. bust recovery until later in the year Ranked in order of greatest gains. a letdown rather than a cause for “We achieved very good num- or in 2012.” Rank Year Change % Change Rank Year Change % Change celebration. bers in 2010 without much contri- The status quo is also expected in 1 1999 91.7 +2.6% 18 1994 31.7 +1.0% “It’s hard to say that there’s any- bution from the financial sector, but the residential housing market, 2 2000 91.4 +2.5% 19 1979 28.4 +0.9% thing that’s going to spur a lot of to step up the pace,you’d need to see where a combination of high local 3 1998 84.5 +2.4% 20 1980 18.2 +0.6% growth, but at the same time, things the financial sector become a net job unemployment, government budg- 4 1997 83.6 +2.5% 21 1977 8.9 +0.3% look stable enough that we’ll con- gainer,”said James Brown,principal et shortfalls and tight credit will 5 2006 74.5 +2.1% 22 1995 8.9 +0.3% tinue on our moderate pace of recov- economist at the state Department limit sales volume and keep prices 6 2007 73.7 +2.0% 23 2008 5.9 +0.2% ery,” said Barbara Byrne Denham, of Labor. level. 7 1978 66.4 +2.1% 24 1972 0.7 0.0% chief economist at real estate servic- And with such a burst unlikely in “Those macro factors are going 2015* 61.4 +1.6% 25 1988 (5.7) -0.2% es firm Eastern Consolidated. the near future, businesses are to keep in check any significant im- 8 1983 64.2 +1.9% 26 1989 (22.6) -0.6% The national economy is “pick- preparing for a 2011 that looks pret- provement,” said Jonathan Miller, 9 1984 60.9 +1.8% 27 2002 (24.5) -0.7% ing up speed,” according to a De- ty much like last year. Moderate president of real estate appraisal 10 1985 59.7 +1.7% 28 1982 (40.3) -1.2% cember analysis by Deutsche Bank growth will not come as a surprise firm Miller Samuel. “I characterize 2013* 58.2 +1.5% 29 2003 (41.8) -1.2% Group, and that will help the city. this time and, with the memory of 2011 as a market that, best case, is 11 2005 58.1 +1.6% 30 1973 (55.6) -1.6% But the lion’s share of the growth the financial crisis fading, will not probably going to move sideways.” 12 1981 56.0 +1.7% 31 1976 (63.2) -1.9% here will most likely occur toward feel as positive. The sectors that led the way last 2012* 52.5 +1.4% 32 1992 (65.9) -2.0% the end of 2011,as drags on the U.S. “Companies are sitting on enor- year retain the most positive out- 2010** 52.0 +1.4% 33 1990 (84.0) -2.3% recovery—including high unem- mous amounts of cash, and until looks for 2011. 13 1987 55.6 +1.6% 34 1971 (112.0) -3.0% ployment, remnants of the foreclo- they spend it, our economy is not 14 1996 49.3 +1.5% 35 1974 (114.7) -3.3% sure mess and tight credit—linger. going to break free,” said Anthony Heads in beds 2014* 47.6 +1.2% 36 2009 (133.1) -3.5% Some local forecasters are be- A WEAK DOLLAR and the lure of New 15 1986 44.1 +1.3% 37 2001 (147.6) -3.9% coming more optimistic, however. ‘Companies York will continue to attract 2011* 41.7 +1.1% 38 1975 (153.0) -4.5% Moody’s Analytics’ initial 2011 tourists,according to John Fox,sen- 16 1993 38.7 +1.2% 39 1991 (178.7) -5.1% forecast called for about the same ior vice president at Colliers PKF 17 2004 34.8 +1.0% *Forecast. **Estimate. Source: Independent Budget Office level of growth in the New York area are sitting on Consulting. Hotel occupancy rates as last year. will fall 2.5%, to 79%, but average But that outlook came before enormous room rates will rise 6.8%, to $252, IT’S BEGINNING TO LOOK A LOT LIKE 2010 President Barack Obama complet- according to Mr. Fox’s forecast for The city is predicted to add 41,700 jobs in 2011, with several of the same ed a deal to extend unemployment [piles] of cash’ the New York area. sectors that led the way last year driving growth again. benefits and institute a one-year,2% The drop in the occupancy rate reduction in Social Security payroll is somewhat deceiving, because it Education and health services 18,700 taxes, among other measures. The results from a large increase in in- agreement will boost consumer ventory, Mr. Fox said. The actual Leisure and hospitality 7,200 spending and could encourage busi- Schirripa, chairman of architecture number of rooms occupied will Wholesale and retail trade 6,000 nesses to hire or invest, said Marisa firm Mancini Duffy. jump by about 5% this year.

Di Natale, a director at Moody’s. Simon Binder,a partner at Man- “I’m pretty bullish on 2011,” he Source: Independent Budget Office hattan-based Greenhouse IT, said. “I don’t think we’ll be back to Consumer spending spree which provides technology support 2007 or 2008 euphoria, but I don’t THE BIGGEST LOSERS “WE’RE ACTUALLY upping our 2011 to an array of businesses, does not see anything on the horizon that Local and state government shed 5,600 jobs in the city in 2010. Advertising forecast pretty significantly because expect a significant upswing in hir- gives me pause.” and publishing also registered large reductions. of that,” Ms. Di Natale said. “There ing until the second half of the year. The most significant unknown is is a strong potential that things may Companies have streamlined and whether solutions to New York -4,200 be even better this year than last learned to get along with less, he state’s budget crisis will lead to large Local government year.” said. “We’re seeing very, very slow, job losses in the city. State and local -2,600 Advertising Even so,without big job gains on anemic growth.Everybody seems to government layoffs have already Wall Street, most analysts continue be treading water.” slowed the recovery,with 5,600 jobs -2,300 Publishing to predict that growth will be re- Con Edison is preparing for only shed last year through November. strained. The Independent Budget a 1% rise in peak demand, to 13,275 And Gov. Andrew Cuomo took -2,200 Apparel manufacturing Office, which foresees a small in- megawatts. Its forecast is based on office this week facing a $10 billion crease of 41,700 jobs next year, be- an anticipated small rise in employ- budget gap. If he decides to fill that -2,000 Telecommunications lieves finance won’t pick up until ment and U.S. GDP,as well as a rel- hole by slashing aid to the city,more -1,900 Federal government 2012, when the sector is expected to atively stable local population. layoffs could follow.And severe cuts add 5,800 positions. “A year ago, people were saying to Medicaid could slow growth in -1,500 Architecture and engineering A report late last year by state the economy was really going to re- the city’s health care industry. Comptroller Thomas DiNapoli bound in 2011,” said Joseph Oates, “That’s the biggest risk right -1,400 State government predicted that Wall Street would ConEd’s vice president for energy now,” Ms. Di Natale said. “That lose another 7,000 jobs as it adjusts management.“Now it does look like could change the pace of the recov- Source: Eastern Consolidated to regulatory reform before begin- some recovery, but probably not ro- ery over the next year or two.” Ⅲ

January 3, 2011 | Crain’s New York Business | 15 20110103-NEWS--0016-NAT-CCI-CN_-- 12/29/2010 4:04 PM Page 1

FOR THE RECORD

GOODS AND SERVICES behalf of the tenant. The asking rent was ranging from $111.85 to $113.72, in a ● Department of Citywide Administrative $36 a square foot. transaction worth $44,635,192. He now ABOUT THIS SECTION Services directly holds 619,014 shares. Seeks proposals by 11 a.m. on Jan. 18 Metis Associates signed a 10-year lease FOR THE RECORD is a weekly listing of information from the public record that from vendors wishing to provide a for 19,500 square feet at 120 Wall St.,a ● Starwood Hotels and Resorts Worldwide can help businesspeople in the New York area find opportunities, potential commercial, off-the-shelf solution that 34-story, 607,000-square-foot building Inc. (HOT) new clients and updates on competitors. will be designed specifically to manage owned by Silverstein Properties. Roger Kenneth S. Siegel, chief administrative To ask questions or get more information on this section, contact Suzanne and track the city’s verification of Silverstein and Jeremy Moss represented officer, general counsel and secretary, Panara at [email protected]. unemployment benefit claims. the landlord in-house, while Patrick exercised options on 217,998 shares of Questions should be directed to Robert Heeg of Jones Lang LaSalle represented common stock at prices ranging from Aboulafia at (212) 669-3538 or the tenant. Asking rents in the building $11.39 to $48.80 on Dec. 9, in a [email protected]. are in the mid- to high $30s a square foot. transaction worth $7,170,560. On the same day, he sold 293,706 shares at BANKRUPTCIES claims are the Internal Revenue Service, ● Department of Education RETAIL $60.48, in a transaction worth owed $821,713, the New York City Seeks competitive sealed bids by 1 p.m. New Balance Athletic Shoe signed a $17,763,162. He now directly holds The following listings are selected from the Department of Finance, owed $134,190, on Jan. 11 for learning-to-work lease for 6,600 square feet at 150 Fifth 74,167 shares. most recent available filings by companies and the New York state Department of programs for young adult borough Ave., a building owned by L&L seeking bankruptcy protection in the Taxation and Finance, owed $132,752. centers, transfer schools, new pathways Holding. The company will occupy the ● Scientific Games Corp. (SGMS) Southern and Eastern Districts of New schools and GED programs. Bids are basement and ground floors. David Ronald O. Perelman, director, purchased York. Information was obtained from U.S. sought from experienced organizations Berkey of L&L Holding represented the 4,315,000 shares of common stock at Bankruptcy Court records available on GOVERNMENT CONTRACT eligible to provide specialized support tenant and the landlord. Asking rents for prices ranging from $8.39 to $9.75 Public Access to Court Electronic Records. OPPORTUNITIES services to students who are over-age the ground-floor spaces range from between Dec. 3 and Dec. 8, in a Listings are in alphabetical order. and undercredited in secondary schools. $275 to $300 a square foot. transaction worth $37,573,376. He now Following are selected contract For all questions related to this indirectly holds 30,711,700 shares. ● Fless 5 Development Inc. opportunities recently announced by New solicitation, e-mail Stephen Stamo at 9306 Flatlands Ave., Brooklyn York City agencies.To learn how to sell [email protected]. STOCK TRANSACTIONS Gerald J. Ford, director, purchased Filed for Chapter 11 bankruptcy goods and services to city government, visit 200,000 shares of common stock at protection on Dec. 1. The filing cites www.nyc.gov/selltonyc. For a searchable Following are recent insider transactions at prices ranging from $9.20 to $9.41 on estimated liabilities of $1,000,001 to database of current procurement notices, REAL ESTATE DEALS New York’s largest publicly held companies Dec. 10, in a transaction worth $10 million and estimated assets of $0 to visit www.nyc.gov/cityrecord. Listings are filed with the Securities and Exchange $1,870,455. He now directly holds $50,000. Among the creditors with the alphabetical by category and department. Companies that would like to have details Commission by executives and major 307,942 shares. largest unsecured claims are Steven of their recent transactions appear in these shareholders. Listings are in order of Bonafino, owed $938,000, Frank R. CONSTRUCTION SERVICES listings should e-mail descriptions to transaction value.The information was ● Estée Lauder Co. (EL) Seddio, owed $735,000, and Ellen ● Department of Design and Construction [email protected], with obtained from Thomson Reuters. Ronald S. Lauder, chairman of Clinique Klein, owed $580,000. Seeks competitive sealed bids by 2 p.m. “Real estate transaction” in the subject Laboratories, sold 400,000 shares of on Jan. 25 for the renovation of the line, or enter them online at ● American International Group Inc. (AIG) common stock at prices ranging from ● JJ Walsh Flexographics Printing Bronx River Art Center. There will be crainsnewyork.com/submitadeal. Deals are Fairholme Capital Management $77.48 to $78.55 between Dec. 8 and Materials & Supplies Co. an optional prebid conference on Jan. 11 listed in order of square footage. purchased 1,663,965 shares of common Dec. 10, in a transaction worth 10 Technology Drive, East Setauket, at the Bronx River Art Center, 1087 E. stock at prices ranging from $43.92 to $31,120,790. He now directly holds L.I. Tremont Ave., Bronx. For additional COMMERCIAL $48.95 between Dec. 8 and Dec. 10, in a 60,735 shares. Filed for Chapter 7 bankruptcy information on this solicitation, contact Société Générale signed a 20-year lease transaction worth 79,512,496. It now protection on Dec. 13. The filing cites Ben Perrone at (718) 391-2614. for 444,000 square feet at 245 Park Ave., indirectly holds 84,727,296 shares. ● Becton Dickinson and Co. (BDX) estimated liabilities of $100,001 to a 1.7 million-square-foot building owned Jeffrey S. Sherman, senior vice president $500,000 and estimated assets of $0 to ● Department of Parks and Recreation by Brookfield Properties.The firm will ● Polo Ralph Lauren Corp. (RL) and general counsel, exercised options $50,000. Among the creditors with the Seeks competitive sealed bids by occupy the third to 12th floors. Jerry Ralph Lauren, chairman of the board and on 25,090 shares of common stock at largest unsecured claims are 3M Co., 10:30 a.m. on Jan. 11 for the Aversano and Mark Kaplan of Société chief executive, exercised options on $41.57 between Dec. 2 and Dec. 3, in a owed $48,039.50, Adheso Graphics reconstruction of Owen F. Dolen Park, Générale, along with Lauren Crowley, 395,835 shares of common stock at prices transaction worth $1,042,991. Between Inc., owed $9,898.91, and All Printing at East Tremont and Westchester Ken Meyerson, Patrick Murphy and ranging from $24.78 to $26.71 between Dec. 2 and Dec. 9, he sold 21,127 shares Resources, owed $2,090.16. avenues in the Bronx. Bid documents are Craig Reicher of CB Richard Ellis, Dec. 10 and Dec. 14, in a transaction at prices ranging from $80.85 to $81.55, available for $25 in the blueprint room, represented the tenant, while Dennis worth $10,089,524. During the same in a transaction worth $1,708,907. He ● Penzance Cascades North and its room No. 64, Olmsted Center, Flushing, Friedrich, Jeremiah Larkin and Duncan period, he sold 395,835 shares at prices now directly holds 24,063 shares. Ⅲ affiliates from 8 a.m. to 3 p.m. For further McCuaig represented the landlord in- 1350 Sixth Ave. information, contact Juan Alban at house.The asking rent wasn’t disclosed. Filed for Chapter 11 bankruptcy (718) 760-6771 or protection on Dec. 15. The filing cites [email protected]. Winston & Strawn signed a 15-year DEALS ROUNDUP estimated liabilities of $100,000,001 to lease renewal for 280,000 square feet at $500 million and estimated assets of ● Health and Hospitals Corp. 200 Park Ave., a 60-story, 3.1-million $10,000,001 to $50 million. Among the Seeks competitive sealed bids by square-foot building owned by Tishman TRANSACTION SIZE creditors with the largest unsecured 1:30 p.m. on Jan. 27 for campus site Speyer. Michael Steir, John Mambrino COMPANY (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE claims are Wells Fargo N.A., owed improvements at Jacobi Medical Center’s and Matthew Barlow of Studley BTG Pactual $1,800.0 Government of Singapore GCI $67,000,000, and Normandy Reston transportation intermodal facility, 1400 represented the tenant, while the Investment Corp. Pte. Ltd., Office, owed $39,500,000. Pelham Parkway South, Bronx. A prebid landlord was represented in-house. RIT Capital Partners Plc, conference and walk-through will be Asking rents in the building are between J.C. Flowers & Co. ● RHI Entertainment Inc. and its affiliates (Manhattan), held at 10 a.m. on Jan. 6 at the Jacobi $70 and $90 a square foot. Grupo Santo Domingo, 1325 Sixth Ave. Medical Center, Building No. 1, 11th Ontario Teachers’ Filed for Chapter 11 bankruptcy floor, east wing conference room.The We Work signed a 15-year lease for Pension Plan, Exor S.p.A., protection on Dec. 10. The filing cites conference is optional but highly 43,000 square feet at 349 Fifth Ave., an China Investment Corp., estimated liabilities of $500,000,001 to recommended.Technical questions must eight-story, 64,000-square-foot building Abu Dhabi Investment $1 billion and estimated assets of be submitted to Clifton McLaughlin by owned by Zar Property NY. The firm Council, Inversiones $500,000,001 to $1 billion. Among the e-mail at [email protected] or by occupies the third to the eighth floors. Bahía Ltd., individual investors, Management creditors with the largest unsecured fax at (212) 442-3851 no later than 10 David Zar and Dario Zar of Zar of BTG Pactual claims are J.P.Morgan Chase Bank, days before the bid opening. Property NY negotiated the deal. The owed $655,080,480.22, and Bank of asking rent was $39 a square foot. 885 Third Avenue, $390.8 SL Green Realty Corp. SB M&A ● Health and Hospitals Corp. 2 Herald Square, (Manhattan) America, owed $85,170,041.56. 292 Madison Avenue Seeks competitive sealed bids by 3 p.m. The Richline Group signed a lease for ● Sky Lofts on Jan. 31 for the renovation of the 32,500 square feet at 1385 Broadway,a Visma ASA $165.1 Montagu Private GCI Equity Ltd., 158 N. Fourth St., Brooklyn utilization management B-building at 23-story building owned by B. Bros. Kohlberg Kravis Filed for Chapter 11 bankruptcy Kings County Hospital Center. Two Broadway Realty, an affiliate of Roberts & Co. protection on Dec. 8. The filing cites prebid meetings and walk-throughs will Bloomingdale Properties. The firm will (Manhattan), HgCapital estimated liabilities of $1,000,001 to be held at 10:30 a.m. on Jan. 6 and 10:30 occupy the 12th floor and a portion of The Dwyer Group Inc. $150.0 TZP Group (Manhattan), FB M&A $10 million and estimated assets of a.m. on Jan. 11 in the facilities the 14th floor. Jonathan Serko, Gary Individual Investors, $10,000,001 to $50 million. Among the management E-building, conference Greenspan, Diana Gaines, Larry Management of The creditors with the largest unsecured room E-2236, second floor, 451 Lazerwitz and David Malawer of Dwyer Group Inc. claims are The Backer Group, owed Clarkson Ave., Brooklyn. Questions Cushman & Wakefield represented the Portec Rail Products Inc. $133.5 Sentinel Capital FB M&A $673,258.59, S&Y Enterprises, owed should be directed to Rup Bhowmick at landlord, while Greg Taubin and Gabe Partners (Manhattan) $200,000, and the New York City (718) 245-2122 or Marans of Studley negotiated on behalf El Paso Corp., $125.0 Kohlberg Kravis FB M&A Department of Finance, owed [email protected]. of the tenant. The asking rent wasn’t Altamont gathering and Roberts & co. (Manhattan) $53,633.04. disclosed. processing assets (50%) ● Department of Environmental Protection Universal Gold Mining $80.0 Not disclosed GCI ● Walsh Moss Partnership Seeks competitive sealed bids by Gina Group signed a 13-year lease for Corp. (Manhattan) 436 Lafayette St. 11:30 a.m. on Jan. 18 for the 23,000 square feet at 10 W. 33rd St.,a Selected deals announced for the week ended Dec. 12 involving companies in metro New York. Filed for Chapter 11 bankruptcy reconstruction of the plant outfall at the 12-story, 319,000-square-foot building FB M&A: Financial buyer M&A represents a minority or majority acquisition of existing protection on Dec. 7. The filing cites Coney Island water pollution control owned by Adams & Co. Real Estate. shares of a company with the participation of a financial buyer. GCI: Growth capital investment estimated liabilities of $1,000,001 to plant in Brooklyn. For more information The firm will occupy the third and represents new money invested in a company for a minority stake. SB M&A: Strategic buyer $10 million and estimated assets of regarding this solicitation, contact Greg fourth floors. David Levy represented M&A represents a minority or majority acquisition of existing shares of a company without the participation of a financial buyer. source: capitaliq $1,000,001 to $10 million. Among the Hall at (718) 595-3236 or the landlord in-house while Abraham creditors with the largest unsecured [email protected]. Hidary of Hidrock Realty negotiated on

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EXECUTIVE RECRUITER PUBLIC & LEGAL NOTICES

Notice of Qualification of Candlewood Notice of Qualification of DEZ-IT (A), Notice of Formation of PANTHER POSITIONS AVAILABLE Structured Credit GP, LLC. Authority L.L.C. Authority filed with Secy. of EQUIP LP. Cert. of LP filed with Secy. filed with NY Dept. of State on State of NY (SSNY) on 11/08/10. of State of NY (SSNY) on 12/16/10. 11/2/10. Office location: NY County. Office location: NY County. LLC Office location: NY County. Princ. AVP/Sr. Systems Analyst LLC formed in DE on 10/22/10. NY formed in Delaware (DE) on 11/03/10. office of LP: BCS Equip GP, Inc., (AllianceBernstein L.P. – NY, NY) Perform Sec. of State designated agent of Princ. office of LLC: 350 Park Ave., 333 Seventh Ave., 3rd Fl., NY, NY in-depth analysis & documentation of LLC upon whom process against it 4th Fl., NY, NY 10022. SSNY desig- 10001. Latest date on which the LP business reqs & data flows, incl. dvlpmt, may be served and shall mail nated as agent of LLC upon whom may dissolve is 12/31/2030. SSNY testing, & release support in association process to: c/o CT Corporation process against it may be served. designated as agent of LP upon with key Over the Counter (OTC) & Futures System, 111 8th Ave., NY, NY 10011, SSNY shall mail process to c/o whom process against it may be derivative trade processing sftwr apps. regd. agent upon whom process may Corporation Service Co., 80 State served. SSNY shall mail process to Reqs a Bach’s deg in Comp Sci, Engin or rel. be served. DE addr. of LLC: 1209 St., Albany, NY 12207-2543. DE the LP at the addr. of its princ. office. tech field & 7 yrs exp. providing derivative Orange St., Wilmington, DE 19801. addr. of LLC: 2711 Centerville Rd., Name and addr. of each general trading related sftwr dvlpmt srvcs. All Cert. of Form. filed with DE Sec. of Ste. 400, Wilmington, DE 19808. Arts. partner are available from SSNY. stated exp. must incl. the following: State, 401 Federal St., Dover, DE of Org. filed with Secy. of State of DE, Purpose: Any lawful activity. 19901. Purpose: any lawful activity. 401 Federal St., Ste. 4, Dover, DE Calypso trading systems integration & Java 19901. Purpose: Any lawful activity. programming; integrating trading, Notice of Formation of Loventhal Notice of Formation of CREATURE Silver Manhattan LLC. Articles of accounting, banking & brokerage systems PICTURES, LLC, a domestic LLC. Notice of Formation of FIRST JW Org. filed with Secy. of State of NY for OTC derivative trade processing Arts. of Org. filed with the SSNY on HOLDINGS, LLC. Arts. of Org. filed (SSNY) on 06/02/2002. Office loc.: systems; computing price & risk on OTC 11/05/2010. Office location: NY with Secy. of State of NY (SSNY) on New York Co. SSNY designated as derivatives such as IRS & CDS; systems County. SSNY has been designated 11/05/10. Office location: NY County. agent of LLC upon whom process mgmt util. Oracle & Unix (Solaris or as agent upon whom process against Princ. office of LLC: 20 Clinton St., against it may be served. SSNY shall Linux); Java Swing user interface dvlpmt in the LLC may be served. SSNY shall Apt. 4-F, NY, NY 10002. SSNY mail process to the LLC, c/o support of Calypso interface customization; mail a copy of process to: 508 W. designated as agent of LLC upon Alexander Hidalgo Inc., 135 West integrating Calypso w/ other trading 26th St. Ste 7A, NY, NY 10001. Reg whom process against it may be 72nd Street, New York, NY 10023. systems util. XML & web srvcs; &, util. Agent, Andrew Zuckerman, 508 W. served. SSNY shall mail process to Purpose: any lawful act or activity. Calypso API to create vendor supported 26th St. Ste 7A, NY, NY 10001. c/o Morton Goldfein, Esq., Saiber extensions to the product. In lieu of Bach’s Purpose: Any Lawful Purpose. LLC, 44 Wall St., 12th Fl., NY, NY Notice of Qualification of Global degree as stated, will accept an equiv. 3 yr 10005. The regd. agent of the Demolition & Recycling, LLC. foreign degree in stated fields. Notice of Qualification of GREENWICH company upon whom and at which Authority filed with NY Dept. of State THAMES REALTY LLC. Authority Resumes: J. Johnson, AllianceBernstein process against the company can be on 11/16/10. Office location: NY filed with Secy. of State of NY (SSNY) L.P., 1345 Avenue of the Americas, New served is Morton Goldfein, Esq., c/o County. LLC formed in DE on on 10/22/10. Office location: NY York, NY 10105. Ref JobID: NEWSSO Saiber LLC, at the addr. of process. 7/14/04. NY Sec. of State designated County. LLC formed in Delaware (DE) Purpose: Retail sales. agent of LLC upon whom process on 07/12/10. Princ. office of LLC: c/o Associate Attorney against it may be served and shall Michael, Levitt & Rubenstein, LLC, Notice of formation of 42 LUDLOW mail process to: c/o CT Corporation (Paul, Hastings, Janofsky & Walker LLP – NY, 60 Columbus Circle, NY, NY 10023. NY) Analyze & interpret complex tax law-rel. LLC a domestic Limited Liability System, 111 8th Ave., NY, NY 10011, SSNY designated as agent of LLC Company (LLC). Articles of Organization regd. agent upon whom process may issues, incl. engaging in cross-border planning upon whom process against it may & structuring as well as analysis of income tax CRAINSNEWYORK.COM filed with the Secretary of State on be served. DE addr. of LLC: 1209 be served. SSNY shall mail process Orange St., Wilmington, DE 19801. treaties for Fortune 100 cos & other businesses. November 22, 2010, NY Office to the LLC at the addr. of its princ. Cert. of Form. filed with DE Sec. of Reqs a J.D. (or foreign equiv) & an LL.M. in Location: New York County. Secretary office. DE addr. of LLC: c/o of State is designated as agent upon State, 401 Federal St., Dover, DE Taxation & 2 yrs of exp. in cross-border tax Corporation Service Co., 2711 whom process against the LLC may 19901. Purpose: any lawful activity. planning & structuring for Fortune 100 cos. REAL ESTATE Centerville Rd., Ste. 400, Wilmington, be served. Secretary of State shall Must have exp. in each of the following: pro- DE 19808. Arts. of Org. filed with mail a copy of any process against K2 SPIRITS IMPORTERS, LLC, a viding advice for Fortune 100 cos re: foreign Secy. of State of DE, John G. the LLC served upon him/her to: 42 domestic Limited Liability Company tax credits, Subpart F, PFIC, source of income COMMERCIAL Townsend Bldg., Federal and Duke Ludlow Street, New York, New York (LLC), filed with the Sec of State of & other intl tax issues; negotiating credit agree- of York Sts., Dover, DE 19901. 10002. Purpose: To engage in any NY on 9/22/10. NY Office location: ments involving U.S. & foreign participants w/ Purpose: Any lawful activity. HUDSON VALLEY AREA of NYS lawful act or activity. New York County. SSNY is desig- a value of at least $1 bil on behalf of both nated as agent upon whom process 1)Hospital 100 Beds 22ac, assisted living Notice of Formation of Cereus creditors & borrowers; analyzing complex against the LLC may be served. 2)School 60K SF Gym Pool Borders Park Design LLC. Art of Org. filed with The Acadian Group LLC filed Arts of issues under income tax treaties & planning SSNY shall mail a copy of any 3)Investment. Chase Bank Anchor 25K sf SSNY 11-10-10. Office Location: NY Org with the Secy of State of NY cross-border business structures based on 4)Pvt Airport 3850”RW Dvlopmnt Land process against the LLC served County. SSNY designated as agent (SSNY) on 7/2/2010. Located in NY income tax treaty eligibility; advising Fortune 5)Legendary Music Venue 1000 Seats upon him/her to The LLC, 64 Fulton for process. SSNY shall mail a copy Co. SSNY has been designated as 100 cos w/ respect to foreign currency transac- 6)200,000 SF Bio, Hi-Tech, Back Office St., Ste. 304, New York, NY 10038. of any process to The LLC, 267 Fifth agent upon whom process against it tions, debt modification, REITs, trusts, corp. & www.crproperties.com 845-485-3100 may be served and SSNY shall mail General Purposes. partnership taxation; advising real estate funds Ave., Ste. 1001, NY, NY 10016. Purpose: Any lawful act or activity. a copy of any process against the w/ assets under mgmt of at least $500 mil on LLC to princ. business address 304 Notice of Formation of 7E86 REALTY the tax consequences of their inbound & out- Notice of Registration of Buitrago & Park Ave. So., 11th Fl., NY, NY LLC. Arts. of Org. filed with Secy. of bound investments, incl. addressing U.S. trade PUBLIC & Kleinman LLP. Cert. filed with Secy. 10010. Purpose: any lawful acts. State of NY (SSNY) on 12/15/10. or business, Subpart F, PFIC, FIRPTA & real of State of NY (SSNY) on 7/21/10. Office location: NY County. Princ. estate finance issues; advising Fortune 100 cos LEGAL NOTICES Office in NY Cty. Principal office: 101 Notice of Qualification of KEENE office of LLC: 770 Lexington Ave., re: Section 482 transfer pricing issues; &, repre- West 73rd St Ste 1A, NY, NY 10023. CONSULTING ARIZONA LLC. 18th Fl., NY, NY 10065. Latest date senting U.S. multinational corps before the IRS Notice of Formation of NORTH PARK SSNY designated as agent of LLP Authority filed with Secy. of State of on which the LLC may dissolve is & Congress. Must have exp. in State tax issues. PRESERVATION GP, LLC. Arts. of upon whom process against it may NY (SSNY) on 11/24/10. Office loca- 12/31/2035. SSNY designated as Must be admitted to the NY State Bar. Org. filed with Secy. of State of NY be served. SSNY shall mail process tion: NY County. LLC formed in agent of LLC upon whom process Resumes: N. Marine at Paul, Hastings, Janofsky (SSNY) on 11/16/10. Office location: to David Kleinman at the principal Delaware (DE) on 11/09/10. SSNY against it may be served. SSNY & Walker LLP, 515 S. Flower St., 25th Fl, Los NY County. Princ. office of LLC: 60 office. Purpose: Profession of Law. designated as agent of LLC upon shall mail process to the LLC at the Angeles, CA 90071. Ref. JobID: NEWDMA Columbus Circle, NY, NY 10023. whom process against it may be addr. of its princ. office. Purpose: SSNY designated as agent of LLC Notice of Formation of GARIMMO, served. SSNY shall mail process to Any lawful activity. upon whom process against it may LLC. Arts. of Org. filed with Secy. of the LLC, P.O. Box 270, NY, NY be served. SSNY shall mail process State of NY (SSNY) on 12/16/10. 10021. DE addr. of LLC: c/o Notice of Formation of ATTO, LLC. TELECOMMUNICATIONS to c/o Corporation Service Co., 80 Office location: NY County. SSNY Corporation Service Co., 2711 Arts. of Org. filed with Secy. of State State St., Albany, NY 12207. designated as agent of LLC upon Centerville Rd., Ste. 400, Wilmington, of NY (SSNY) on 12/15/10. Office NYC'S MOTOROLA Purpose: Any lawful activity. whom process against it may be DE 19808. Arts. of Org. filed with location: NY County. SSNY served. SSNY shall mail process to Jeffrey W. Bullock, DE Secy. of State, designated as agent of LLC upon MOTOTRBO SPECIALISTS Notice of Formation of LB ONE LLC. princ. bus. loc.: c/o The LLC, 2279 401 Federal St., #3, Dover, DE whom process against it may be Arts. of Org. filed with Secy. of State Third Ave., 5B, NY, NY 10035. 19901. Purpose: Any lawful activity. served. SSNY shall mail process to of NY (SSNY) on 12/10/10. Office Purpose: any lawful activity. c/o MontaguLaw, P.C., 1120 Ave. of location: NY County. Princ. office of Notice of Qualification of FENSTER- the Americas, 4th Fl., NY, NY 10036. LLC: 482 Woodlands Rd., Harrison, Notice of Qualification of Inland STOCK ASSOCIATES, LLC. Authority Purpose: Any lawful activity. NY 10528. SSNY designated as Diversified Real Estate Services LLC. filed with Secy. of State of NY agent of LLC upon whom process Authority filed with NY Dept. of State (SSNY) on 12/10/10. Office location: Notice of Qualification of Master against it may be served. SSNY shall on 12/6/10. Office location: NY NY County. LLC formed in Delaware Money LLC. Authority filed with NY mail process to the LLC, c/o Donna County. Princ. bus. addr.: 2901 (DE) on 11/03/10. Princ. office of Dept. of State on 11/15/10. Office Lagani at the princ. office of the LLC. Butterfield Rd., Oak Brook, IL 60523. LLC: 445 Lafayette St.. Apt. 15B, NY, location: NY County. Princ. bus. Purpose: Any lawful activity. LLC formed in DE on 8/8/08. NY Sec. NY 10003. SSNY designated as addr.: 40 E. 52nd St., NY, NY 10022. of State designated agent of LLC agent of LLC upon whom process LLC formed in DE on 8/29/02. NY Notice of Formation of MW Products, upon whom process against it may against it may be served. SSNY shall Sec. of State designated agent of LLC. Arts. of Org. filed with NY Dept. be served and shall mail process to: mail process to c/o Corporation LLC upon whom process against it of State: 12/8/10. Office loc.: NY c/o CT Corporation System, 111 8th Service Co. (CSC), 80 State St., may be served and shall mail process County. Princ. bus. addr.: 49 W. 38th Ave., NY, NY 10011, regd. agent Albany, NY 12207-2543. DE addr. of to: c/o CT Corporation System, 111 St., 2nd Fl., NY, NY 10018. Sec. of upon whom process may be served. LLC: CSC, 2711 Centerville Rd., Ste. 8th Ave., NY, NY 10011, regd. agent State designated agent of LLC upon DE addr. of LLC: c/o The Corporation 400, Wilmington, DE 19808. Arts. of upon whom process may be served. whom process against it may be Trust Co., 1209 Orange St., Org. filed with Secy. of State of the DE addr. of LLC: 100 Bellevue Pkwy., 33 East 33rd Street served and shall mail process to: c/o Wilmington, DE 19801. Cert. of Form. State of DE, Div. of Corps., John G. Wilmington, DE 19809. Cert. of New York, NY 10016 Aleena R. Shapiro, Esq., Hartman & filed with DE Sec. of State, 401 Townsend Bldg., 401 Federal St., Form. filed with DE Sec. of State, 212-532-7400 Craven, LLP, 488 Madison Ave., NY, NY Federal St., Dover, DE 19901. Ste. 4, Dover, DE 19901. Purpose: 401 Federal St., Dover, DE 19901. www.metrocomradio.com 10022. Purpose: any lawful activity. Purpose: any lawful activity. Any lawful activity. Purpose: any lawful activity.

18 | Crain’s New York Business | January 3, 2011 nb01p18-19cl.qxp 12/30/10 1:13 PM Page 19

PUBLIC & LEGAL NOTICES

Notice of Qualification of 25 CSH Notice of Qualification of RealTick Notice of Qualification of Goldman Notice of Qualification of ACE Bakery, Notice of Qualification of FAIRWAY OPERATING LLC. Authority filed with LLC. Authority filed with Secy. of Sachs Investment Partners Private LLC. Authority filed with NY Dept. of EAST 86TH STREET LLC. Authority Secy. of State of NY (SSNY) on State of NY (SSNY) on 12/09/10. Opportunities Holdings, L.P. Authority State on 11/18/10. Office location: filed with Secy. of State of NY (SSNY) 11/30/10. Office location: NY County. Office location: NY County. LLC filed with Secy. of State of NY (SSNY) NY County. Princ. bus. addr.: 50 on 11/10/10. Office location: NY LLC formed in Delaware (DE) on formed in Delaware (DE) on on 10/26/10. Office location: NY Maplehurst Dr., Brownsburg, IN County. LLC formed in Delaware (DE) 11/24/10. SSNY designated as agent 11/19/10. Princ. office of LLC: 1633 County. LP formed in Cayman Islands 46112. LLC formed in DE on 10/14/10. on 02/04/10. Princ. office of LLC: of LLC upon whom process against it Broadway, 48th Fl., NY, NY 10019. (CI) on 6/4/10. SSNY designated as NY Sec. of State designated agent of Fairway Central Services LLC, 2284 may be served. SSNY shall mail SSNY designated as agent of LLC agent of LP upon whom process LLC upon whom process against it Twelfth Ave., NY, NY 10027. SSNY process to Irwin A. Horowitz, Esq., upon whom process against it may against it may be served. SSNY may be served and shall mail process designated as agent of LLC upon Hartz Mountain Industries, Inc., 400 be served. SSNY shall mail process shall mail process to: 200 West St., to: c/o CT Corporation System, 111 whom process against it may be Plaza Dr., Secaucus, NJ 07096. DE to c/o Corporation Service Co. NY, NY 10282. CI address of LP: 8th Ave., NY, NY 10011, regd. agent served. SSNY shall mail process to addr. of LLC: RL&F Service Corp., (CSC), 80 State St., Albany, NY c/o Walkers SPV Limited, Walker upon whom process may be served. the LLC at the addr. of its princ. office. One Rodney Sq., 10th Fl., 12207-2543. DE addr. of LLC: c/o House, 87 Mary St., George Town, DE addr. of LLC: 1209 Orange St., DE addr. of LLC: 2711 Centerville Wilmington, New Castle Cnty., DE CSC, 2711 Centerville Rd., Ste. 400, Grand Cayman, KY1-9002, CI. Wilmington, DE 19801. Cert. of Form. Rd., Ste. 400, Wilmington, DE 19808. 19801. Arts. of Org. filed with Secy. of Wilmington, DE 19808. Arts. of Org. Name/address of each genl. ptr. filed with DE Sec. of State, Federal & Arts. of Org. filed with DE Div. of State of DE, 401 Federal St., Ste. 4, filed with Secy. of State, DE Div. of available from SSNY. Cert. of LP Duke of York Sts., Dover, DE 19901. Corps., John G. Townsend Bldg., Dover, DE 19901. Purpose: Any Corps., John G. Townsend Bldg., filed with Registrar of Exempted Purpose: any lawful activity. 401 Federal St. - Ste. 4, Dover, DE lawful activity. 401 Federal St., Ste. 4, Dover, DE LPs, Elizabethan Sq., 4th Fl., Phase 19901. Purpose: Any lawful activity. 19903. Purpose: Any lawful activity. Four, George Town, Grand Cayman, NOTICE OF FORMATION OF Lori NOTICE OF FORMATION of Varick CI. Purpose: any lawful activity. Cannava Photography LLC. Article of Notice of Formation of Dan’s Papers Asset Management LLC. Arts of Org Notice of Formation of RUSTY CHIP, Organization filed with the Secretary Holdings, LLC formed on 9/1/10, filed with the Secy of State of NY LLC. Arts. of Org. filed with Secy. NOTICE OF FORMATION of Aurum of State of NY (SSNY) on 11/03/10. name amended to Dan’s Papers, LLC (SSNY) on 9/23/10. Office loc: NY of State of NY (SSNY) on 11/23/10. Options Strategies LLC. Arts of Org Office location New York County. SSNY on 9/29/10. Articles of Org. filed with County. SSNY has been designated Office location: NY County. SSNY filed with the Secy of State of New has been designated as agent upon Secy. of State of NY (SSNY). Office as an agent upon whom process may designated as agent of LLC upon York (SSNY) on 10/20/10. Office whom process against it may be location: NY County. SSNY designated be served and shall mail a copy of any whom process against it may be location: NY County. SSNY desig- served. SSNY shall mail a copy of any as agent of LLC whom process process to: 19 Beach St, #3 NY, NY served. SSNY shall mail process to nated as an agent upon whom process against the LLC served upon against it may be served. SSNY shall 10013. Principal business address: Nancy H. Feinberg, 131 Prince St., process may be served and shall him/her to the LLC, 405 W 49th Street mail a copy of process to the LLC, 17 State St., Ste 3800 NY, NY 10004. #3, NY, NY 10012. Purpose: Any mail a copy of any process to the 5E, NY, NY 10019. Purpose of LLC: to 79 Madison Ave., 16th Floor, NY, NY Purpose: any lawful acts. lawful activity. principal business address: One engage in any lawful act or activity. 10016. Purpose: any lawful activity. North End Ave., Ste. 1207E, NY, NY JOAN MERRILL LLC Articles of Org. Notice of Formation of Gotham 149 10282. Purpose: any lawful act. Notice of Qualification of Vita Nuova Notice of Formation of Goodrich filed NY Sec. of State (SSNY) Realty LLC. Arts. of Org. filed with LLC. Authority filed with Sec. of State Fashion Consulting Group, LLC. 12/15/2010. Office in NY Co. SSNY Secy. of State of NY (SSNY) on Notice of Formation of Renatus of New York (SSNY) on 10/29/2010. Articles of Organization filed with desig. agent of LLC upon whom 11/30/10. Office location: NY County. Southgate LLC. Arts. of Org. filed Office Location: NY County. LLC New York Secretary of State on process may be served. SSNY SSNY designated as agent of LLC with Secy. of State of NY (SSNY) on formed in CT on 5/21/1998. SSNY November 3, 2010. Principal Office shall mail copy of process to 1435 upon whom process against it may 5/10/10. Office location: NY County. designated as agent of LLC upon Location: New York County. Lexington Ave., Apt. 2F, NY, NY be served. SSNY shall mail process SSNY designated as agent of LLC whom process against it may be Secretary of State designated as 10128, which is also the principal to: c/o The LLC, 1430 Broadway, upon whom process against it may served. SSNY shall mail process to agent of LLC upon whom process business location. Purpose: Any Ste. 1103, NY, NY 10018. Purpose: be served. SSNY shall mail process the LLC at its CT and principal busi- against the LLC may be served. lawful purpose. any lawful activity. to: c/o Alter Mantel, 90 Park Avenue, ness address: 31A Jeremiah Road, Secretary of State shall mail a copy 35th Fl., NY, NY 10016, Attn: App for Auth for 222 EAST 32ND Sandy Hook, CT 06482. Arts. of Org. of any process to the LLC at: 415 Notice of Formation of O’Herron Lawrence Hansen, Esq.. Purpose: STREET, L.L.C. filed with Sec. of filed with the Sec. of State of CT, 30 Greenwich Street, Suite #4B, New Grandchildren’s LLC. Arts. of Org. any lawful activity. State of NY (SSNY) 11/15/10. Off: Trinity Street, PO Box 150470, York, New York 10013. Purpose: to filed with NY Dept. of State on loc: NY County. LLC formed in UT on Hartford, CT 06115-0470. Purpose: engage in any lawful act or activity. 12/10/10. Office location: NY County. 11/12/10. SSNY designated as agent Notice of Formation of Renegade any lawful activity. Sec. of State designated agent of Notice of Formation of 136 W. 136th of LLC upon whom process against Nation Online, LLC. Arts. of Org. filed LLC upon whom process against it Street, LLC. Articles of Org. filed it may be served. SSNY shall mail with NY Dept. of State on 10/1/10. Notice of Qualification of 1412 may be served and shall mail with Secy. of State of NY (SSNY) process to The LLC, C/O Carleton Office location: NY County. Sec. of Broadway GP, LLC. Authority filed process to the principal business on 11/23/10. Office loc.: New York W. Spaulding, 40 Wanderwood Way, State designated agent of LLC upon with NY Dept. of State on 11/2/10. addr.: c/o Jonathan O’Herron, Co. SSNY designated as agent of Sandy UT 84092. Arts. Of Org. filed whom process against it may be Office location: NY County. LLC Lazard, Freres & Co. LLC, 30 LLC upon whom process against it with UT Dept. Of Commerce, P.O. served and shall mail process to the formed in DE on 10/15/10. NY Sec. Rockefeller Plaza, NY, NY 10020. may be served. SSNY shall mail Box 146705, Salt Lake City, Utah principal business addr. of the LLC: of State designated as agent of LLC Purpose: any lawful activity. process to the LLC, c/o ICER 84114-6705. Purpose: any lawful act 434 6th Ave., 6th Fl., NY, NY 10011. upon whom process against it may Brands, LLC, 1385 Broadway, 16th or activity. Purpose: any lawful activity. be served and shall mail process to Notice of Qual. of Dinvest Access 90 the principal business addr.: 999 Fl., New York, NY 10018. Purpose: (US) L.P. filed under the original name Notice of Qual. of W West 45th Street Notice of Formation of C&B 23RD Waterside Dr., Ste. 2300, Norfolk, VA any lawful act or activity. Dinvest Access 90, L.P., Auth. filed LLC, Auth. filed Sec’y of State (SSNY) STREET REAL ESTATE LLC. Arts. of 23510. DE addr. of LLC: The Sec’y of State (SSNY) 9/28/10. Office 9/28/10. Office loc.: NY County. LLC Org. filed with Secy. of State of NY Corporation Trust Co., 1209 Orange Notice of Formation of GRESA U.S.A., loc.: NY County. LP org. in DE org. in DE 9/22/10. SSNY desig. as (SSNY) on 11/15/10. Office location: St., Wilmington, DE 19801. Cert. of LLC. Arts. of Org. filed with Secy. of 9/27/10. SSNY desig. as agent of LP agent of LLC upon whom process NY County. SSNY designated as Form. filed with DE Sec. of State, State of NY (SSNY) on 09/13/10. Office upon whom process against it may against it may be served. SSNY shall agent of LLC upon whom process 401 Federal St., Dover, DE 19901. location: NY County. Princ. office of be served. SSNY shall mail copy of mail copy of proc. to c/o Dalan Mgmt. against it may be served. SSNY shall Purpose: any lawful activity. LLC: McElroy, Deutsch, Mulvaney & proc. to 30 Rockefeller Plaza, 27th Fl., & Assoc., 134 W. 25th St., NY, NY mail process to Corporation Service Carpenter, LLP, 88 Pine St. - 24th Fl., NY, NY 10122. DE off. addr.: CSC, 10001. DE off. addr.: 160 Greentree Co., 80 State St., Albany, NY 12207- JLOW LLC Articles of Org. filed NY NY, NY 10005. SSNY designated as 2711 Centerville Rd., Wilmington, Dr., Ste. 101, Dover, DE 19904. Cert. 2543. Purpose: Any lawful activity. Sec. of State (SSNY) 6/7/2010. agent of LLC upon whom process DE 19808. Cert. of LP on file: SSDE, of Form. on file: SSDE, Townsend Office in NY Co. SSNY desig. agent against it may be served. SSNY shall Townsend Bldg., Dover, DE 19901. Bldg., Dover, DE 19901. Purp.: any Notice of Qual. of MREP VII-T H2, LLC, of LLC upon whom process may be mail process to Alfred Wheeler Esq. Name/addr. of each gen. ptr. avail. at lawful activities. Auth. filed Sec’y of State (SSNY) served. SSNY shall mail copy of at the princ. office of the LLC. SSNY. Purp.: any lawful activities. 7/30/10. Office loc.: NY County. LLC process to c/o William J. Lavelle, Jr., Purpose: Any lawful activity. 664 EIGHTH AVE 156 LLC, a org. in DE 7/28/10. SSNY desig. as 81 Barrow St., NY, NY 10014. Notice of Formation of MIKE’S domestic Limited Liability Company agent of LLC upon whom process Purpose: Any lawful purpose. Notice of Formation of SIRIUS PRO- PIZZERIA & CAFE, LLC, a domestic (LLC), filed with the Sec of State of against it may be served. SSNY shall DUCTIONS LLC. Arts. of Org. filed LLC. Arts. of Org. filed with the SSNY NY on 9/21/10. NY Office location: mail copy of proc. to Attn: Felipe Rondout Capital Management LLC, with Secy. of State of NY (SSNY) on on 10/06/2010. Office location: NY New York County. SSNY is desig- Dorregaray, 135 E. 57th St., 16th Fl., Arts. Of Org.filed with SSNY on 10/24/02. Office location: NY County. SSNY has been designated nated as agent upon whom process NY, NY 10022. DE off. addr.: CSC, 10/13/10. Off. Loc.: NY County, SSNY County. SSNY designated as agent as agent upon whom process against the LLC may be served. 2711 Centerville Rd., Wilmington, DE designated as agent of LLC upon of LLC upon whom process against against the LLC may be served. SSNY shall mail a copy of any 19808. Cert. of Form. on file: SSDE, whom process against it may be it may be served. SSNY shall mail SSNY shall mail a copy of process process against the LLC served Townsend Bldg., Dover, DE 19901. served. SSNY shall mail a copy of process to: Susan Diane Freel, 37 to: 35 W. 36th St., NY, NY 10018. upon him/her to Registered Agents Purp.: any lawful activities. process to: The LLC, 595 Madison King St., Ste. 5C, NY, NY 10014. Purpose: Any Lawful Purpose. Legal Services, LLC, 1220 N. Market Ave. 35th/FL, New York, NY 10022. Purpose: any lawful activity. St., Ste. 806, Wilmington, DE 19801. Notice of Qualification of DYNAMIC Purpose: to engage in any lawful act. Notice of Qualification of Kilohana General Purposes. CREDIT ANALYTICS, LLC. Authority Notice of Qualification of Honua Fifth Capital Management, LLC. Authority filed with Secy. of State of NY Notice of Qualification of WTC Tower 1 Avenue LLC. Authority filed with NY filed with Secy. of State of NY Notice of Qualification of Ionic (SSNY) on 12/07/10. Office location: LLC. Authority filed with NY Dept. of Dept. of State on 5/22/07. Office (SSNY) on 11/29/10. Office location: Convertible Fund LLC. Authority filed NY County. LLC formed in Delaware State on 11/29/10. Office location: location: NY County. Princ. bus. NY County. LLC formed in Delaware with NY Dept. of State on 11/18/10. (DE) on 09/25/06. Princ. office of LLC: NY County. LLC formed in DE on addr.: c/o Cozen O’Connor, 277 Park (DE) on 11/19/10. SSNY designated Office location: NY County. LLC Attn: James K. Finkel, 1500 Broadway, 9/2/10. NY Sec. of State designated Ave., NY, NY 10172. LLC formed in as agent of LLC upon whom process formed in DE on 11/17/10. NY Sec. Ste. 1107, NY, NY 10036. SSNY des- agent of LLC upon whom process DE on 5/17/07. NY Sec. of State against it may be served. SSNY of State designated agent of LLC ignated as agent of LLC upon whom against it may be served and shall designated agent of LLC upon whom shall mail process to: The LLC, 351 upon whom process against it may process against it may be served. mail process to the principal business process against it may be served and Saint Nicholas Ave., Ste. 31, NY, NY be served and shall mail process to SSNY shall mail process to the LLC addr.: The Port Authority of New York shall mail process to: c/o CT 10027, also the principal office the principal business addr.: 366 at the princ. office of the LLC. DE and New Jersey, 225 Park Ave. So., Corporation System, 111 8th Ave., NY, address. Address to be maintained Madison Ave., 9th Fl., NY, NY 10017. addr. of LLC: c/o National Registered 15th Fl., NY, NY 10003, Attn: Darrell NY 10011, regd. agent upon whom in c/o National Registered Agents, DE addr. of LLC: c/o The Corporation Agents, Inc., 160 Greentree Dr., Ste. Buchbinder, General Counsel. DE process may be served. DE addr. of Inc., 160 Greentree Dr., Ste. 101, Trust Co., 1209 Orange St., 101, Dover, DE 19904. Arts. of Org. addr. of LLC: 1209 Orange St., LLC: The Corporation Trust Co., 1209 Dover, DE 19904. Arts of Org. filed Wilmington, DE 19801. Cert. of filed with Secy. of the State of DE, Wilmington, DE 19801. Cert. of Orange St., Wilmington, DE 19801. with DE Secy. Of State, 401 Federal Form. filed with DE Sec. of State, Corp. Dept., Loockerman & Federal Form. filed with DE Sec. of State, Cert. of Form. filed with DE Sec. of St., Ste. 4, Dover, DE 19901. P.O. Box 898, Dover, DE 19903. Sts., Dover, DE 19901. Purpose: Any 401 Federal St., Dover, DE 19901. State, 401 Federal St., Dover, DE Purpose: any lawful activities. Purpose: any lawful activity. lawful activity. Purpose: any lawful activity. 19901. Purpose: any lawful activity.

January 3, 2011 | Crain’s New York Business | 19 20110103-NEWS--0020-NAT-CCI-CN_-- 12/30/2010 2:06 PM Page 1

Web network boosts Complex

Continued from Page 2 more partnering—and even some zine, four owned and operated web- co-authoring of stories—will tap sites, and the network’s operations. into different sites’ loyal followings Whereas Complex used to main- and increase their exposure. ly carry ads from small boutiques In addition, Mr. Antoniello has and indie record labels, the Com- aggressive plans for developing iPad plex network makes deals with Pep- and smartphone applications this si, Samsung, Nike, Toyota and Mc- year. And he maintains that the Donald’s. (Some of those magazine is still a secret weapon, advertisers now end up in the pages providing access to pop culture stars of the magazine, too.) like Kanye West, the subject of the “You need to get to a certain scale current issue’s lengthy cover story. with digital,” Mr. Antoniello said. “Until we had monster offerings,we New hires OUR WHOLE couldn’t get those [big advertisers].” “ pitch three years ago buck ennis The magazine, meanwhile, has was that [the website] would con- GREENING THE VIEW: The Empire State Building’s windows get an energy-efficiency upgrade. been punished by the economy and tinue to have that [magazine-quali- the continuing shift in advertising ty] content,” said Mr. Antoniello. dollars to the Web. As of its May- SECRET WEAPON? Though the magazine is Another lesson Complex.com June issue, ad pages were down 19%, said to be profitable, ad pages are down. executives learned from the mis- LEED wilts under fire according to the most recent data takes of other publishers was to available from Media Industry men’s online category has grown in- make the online presence a different Newsletter. Between 2007 and 2009, creasingly competitive. Heavy- beast from the print property.That’s Continued from Page 1 and property values. the number of pages for the title, weights include IGN, which is part why Mr. Antoniello keeps adding general blossoming of environmen- “You need the two greens [the which is published six times a year, of News Corp.’s Fox Interactive,and content to the site and why he hired tal awareness have spawned a host of environmental and financial] to line plunged 44%. Break Media, which is backed by 28 staffers last year, bringing the to- rating systems that could test up,” said Charles Leitner, Green- Lions Gate Entertainment. tal count to more than 70. LEED’s dominance. print’s CEO. Magazine profits invested “Everybody is vying for the me- “[Complex is] constantly evolv- Developers including the Durst The major problem with such MR. ANTONIELLO said that Complex, dia buyers’ attention,” said David ing the digital aspects,” noted Jen- Organization and Silverstein Prop- endeavors is that information col- which has a circulation of 350,000 Cohn, senior vice president of sales nifer Lyons, group account director erties have built to meet the stan- lectors can’t make their findings copies, does better than break even at CraveOnline, a young men’s net- at Initiative, which is starting its dard. But as LEED’s prestige has public without the property owner’s and that its profits have helped pay work owned by Evolve Media Corp. third year of using the network for grown, so have doubts about consent. That is the catch-22 that for the company’s digital invest- Mr. Antoniello insists that the its Dr Pepper Cherry campaign.“So whether it accurately measures a the U.S. Green Building Council, ments over the past three years. network offers unique sites that at- they keep it fresh,as opposed to tak- building’s sustainability.Those mis- which developed the LEED system, Continued growth on the digital tract a premium audience. He says ing the content in the magazine and givings hit the courts in October, faces as it tries to improve the use- side is not a slam dunk. The young that the redesign, which will entail repurposing it.” Ⅲ when a mechanical systems design- fulness of its ratings.USGBC began er filed a lawsuit challenging the gathering energy-usage data from verification system, in part because its ranked buildings in 2009 but is curb specific abuses in the sale of un- it doesn’t gauge energy use. not allowed to release them. developed parcels of land.” “LEED has made people realize Apartment buyers Lawyer’s representing buyers ar- the importance of looking at how Only an option gue that New York developers buildings are affecting the environ- “WE CAN’T MAKE PEOPLE [allow us to Continued from Page 3 fore purchase contracts are signed. should be held to the same standards ment,” said Constantine Kontokos- release data],” said Scot Horst, the developers that promised to turn Though there are some exemp- as builders across the U.S. ta, director of the Center for the council’s senior vice president of deserts in the Southwest and tions, if developers do not comply, “Disclosures are very important; Sustainable Built Environment at LEED. But providing building swamps in Florida into bustling buyers have the right to withdraw everyone has to comply,”said Adam the NYU Schack Institute of Real owners with such input can help communities, the law was broad- from their contract within two years Leitman Bailey, head of an epony- Estate. them improve their performance,he ended a decade later to include con- of signing it. The law was not used mous law firm and leader of a num- But critics argue that the rating is added. dominium developments. Just two in New York until 2009. ber of ILSA cases around the city.In hollow without an energy measure- To determine rankings, the years ago, lawyers seized on it in the largest of those, he is represent- ment. They insist that such data LEED system uses computer mod- New York as a way to help them get Buyer’s remorse ing nearly 100 buyers trying to void prove that a building’s ecological els that calculate factors ranging from buyers’ deposits back. “THE PURPOSE of ILSA is not to cre- their contracts at Muss Develop- bells and whistles are succeeding in air quality to construction materials. ILSA requires developers of ate a right of rescission in a bad ment’s 1,100-unit Sky View Parc cutting consumption and costs— The USGBC has rated nearly 7,400 buildings with more than 100 units housing market for purchasers who complex in Flushing, Queens. figures that are vital to owners and buildings in 125 countries; about to register the project with the U.S. regret having bought an apartment,” “The law gives people who buy tenants, even those who aren’t die- 36,500 properties await certification. Department of Housing and Urban said Stuart Saft, a partner at Dewey security and information about hard environmentalists. Henry Gifford’s suit against the Development and provide written & LeBoeuf,who works with a num- what they are buying,” Mr. Leitman “More people want to see quan- USGBC claims that it pushes own- disclosures to potential buyers be- ber of developers. “It’s designed to Bailey said. Ⅲ titative data that show they are sav- ers to add costly components that ing money,” said Anthony Malkin, don’t necessarily lower energy costs president of Malkin Holdings, an or benefit the environment. Mr. people working, that’s a double owner of the Empire State Building Horst wouldn’t comment. Storm response whammy,” Mr. Kenig said. and its asset manager. “LEED is voluntary, and it takes At least 75 members of the Mr. Malkin has almost complet- a very big view of the environment,” Southern Boulevard Business Im- ed a $50 million renovation—in- said Robert LiMandri, commis- Continued from Page 2 merce. “It’s just ridiculous.” provement District in the Hunts cluding such green features as bet- sioner of the city’s buildings depart- vowed his own investigation. The storm put a serious crimp in Point section of the Bronx were ter-insulated windows and an ment. More than 2,000 workers and after-Christmas sales, usually some forced to close Monday and Tuesday upgraded air-conditioning sys- The beauty of New York’s re- 1,700 plows and other vehicles were of the year’s biggest, as consumers because merchants and employees tem—that he said will lower energy porting law is that the city can dis- called out, and private tow trucks stayed home. Shopper foot traffic in simply couldn’t get to work. The consumption by 38%. He believes close energy information—whether and outside resources were also the Northeast on Dec.26 and 27 was Hunts Point Terminal Produce Co- the Empire State can earn a LEED or not property owners want it made tapped.Total cost of the removal ef- down 6.1% and 42.9%, respectively, operative, the Northeast’s largest rating but said his motivation was public. The law is designed so that fort was estimated at $20 million, from last year, according to Shop- wholesale produce market, closed energy savings. owners can examine their usage and according to the mayor’s office. perTrak.It estimated that $1 billion when two of its plows broke down make changes to help their bottom The anger was most intense out- of retail spending was postponed early Sunday night—the beginning of Proliferating standards line as well as the environment. side Manhattan. No snowplows over those two days. the nocturnal operation’s work week. LATER THIS YEAR, the American So- In requesting LEED designa- were seen in the outer boroughs dur- Cash registers at Ricky’s were It remained shuttered until Tues- ciety of Heating, Refrigeration and tions, landlords are often targeting ing the first 24 hours,Mr.Levin said. among those quieted. The beauty day afternoon, leading to a backup Air-Conditioning Engineers will tenants that want to enhance their “What were we doing during the chain closed its three Brooklyn and of more than 1,000 tractor-trailers introduce an energy-usage index for image by leasing in a green building. early stages of the storm?” he asked. Queens locations Monday, while its waiting to unload their perishables. buildings. Last year, the Greenprint For them,lower energy costs may be Jackson Heights, generally a 20 Manhattan stores operated for “The storm paralyzed the entire Foundation released its first carbon- only part of the allure. bustling Queens neighborhood,was fewer hours with half of the normal Hunts Point peninsula,” according footprint index tracking the per- “LEED is a recognizable stan- a ghost town for much of last week. staff. CEO Todd Kenig estimates to Bruce Reingold,the general man- formance of 600 buildings. The dard that tenants are willing to pay “I’ve been going by streets that just that the company lost 60% of its po- ager of the nearby meat market. nonprofit was founded in 2009 by a for,” said developer Jonathan Durst. have not been plowed,” said Jack tential business early last week. group of property owners and in- His firm and Bank of America built Friedman, executive vice president “The weather will always affect Amanda Fung and Hilary Potkewitz vestors who wanted to connect One Bryant Park, which has the of the Queens Chamber of Com- business, but when you don’t have contributed. quantifiable environmental factors highest LEED rating available. Ⅲ

20 | Crain’s New York Business | January 3, 2011 20110103-NEWS--0021-NAT-CCI-CN_-- 12/29/2010 4:05 PM Page 1

84% of employees say they plan to seek a new job in 2011, versus 60% surveyed last year BUSINESS LIVES Source: Right Management

HOT JOBS EXECUTIVE INBOX Anne Fisher DIRECTOR ORGANIZATION The Jewish Museum This year, tame JOB DESCRIPTION Running one of the most important Jewish your office cultural institutions in the U.S. narcissist MOST IMPORTANT TASKS Maintaining the museum’s MOST WORKPLACES have a financial stability; developing few of them, and some have new audiences several: people who are, in Jack CREDENTIALS NEEDED Goncalo’s words, “self-loving, Experience in the museum world self-aggrandizing and self- and running a nonprofit absorbed.” Maybe it’s a partner, SALARY Director earned a colleague or even (perish the $221,658 in fiscal 2009 thought) you. If one of your New RECRUITER Phillips Oppenheim Year’s resolutions is to tame DOWNSIDE Filling the shoes of someone’s out-of-control ego, Joan Rosenbaum, who is retiring here’s encouraging news. in June after 30 years at the helm According to Mr. Goncalo’s research, narcissists can be UPSIDE Heading a museum that presents blockbuster shows quite valuable to a business. Says he, “You just have to make Under Ms. Rosenbaum’s watch, sure that they’re in the right jobs.” the Jewish Museum has gone Mr. Goncalo, a professor of from a tiny institution with an annual $1 million operating organizational behavior at budget to a major arts institution Cornell University’s School of with a $15 million budget and a Industrial and Labor Relations, $92 million endowment. also teaches seminars on —MIRIAM KREININ SOUCCAR creativity at Cornell’s Institute for CLOWNING AROUND: Workplace Studies. Comedian Kate Clinton He and two colleagues set gets radical—about out to determine whether there EXECUTIVE MOVES humor. is a connection between narcissism and innovative National Supermarket thinking. If you’re putting up Association: Zeluma with someone’s outsize ego

Wiscovitch, 44, was buck ennis appointed executive because he or she comes across director of the trade GOTHAM GIGS as a font of terrific plans and association that suggestions, the question is represents worth asking: Do narcissists independent really have better ideas than their supermarket owners. She most recently was the geographic marketing manager more self-effacing peers? for the Northeast region at Anheuser- In general, the answer is no. Busch Inc. It’s a Laughing Matter But supersize self-regard has its Young & Rubicam: Jessica Dierauer, 36, uses. “What we found is that was promoted to executive producer of people who got very high scores KATE CLINTON WOULD LIKE music and creative content. She was to be the answer to a clue in a New York on a standardized test for previously executive content producer. ‘Making Times crossword puzzle: “Comedian, Clinton. And everyone would BBDO New York: Tom Godici, 46, was narcissism did not, when their named executive creative director at the my say,‘Oh, Kate,’” says the 60-year-old feminist and gay activist, best ideas were evaluated objectively, advertising agency. He was formerly an known for her biting commentary and political satire. ¶ One of five actually produce better ideas,” executive creative director at Ogilvy. brothers says Mr. Goncalo. They were, Greg Katchum, 46, was named executive children, Ms. Clinton grew up in a Catholic family in Buffalo.“I was however, better at persuading oth- creative director. He was formerly an the middle child; making my brothers laugh was my job,” she says, ers that their ideas were terrific. executive creative director at Ogilvy. laugh was DiGennaro sitting in the Upper West Side apartment she shares with her partner “The narcissists we studied Communications: my job’ of 26 years. Her passion for politics came from her mother.“Reading impressed independent judges Howard Schacter, 45, the paper, she’d go right to the letters to the editor on the political as more enthusiastic, was named president confident and charismatic of the public relations page,” Ms. Clinton explains. ¶ After getting a master’s at Colgate, Ms. than the test subjects whose firm. He was formerly Clinton spent eight years teaching high school in Boston. Ready for a narcissism scores were low,” he marketing and public says. “Because they truly believe relations chief at Steve change, she attended the Women’s Writers Center in Cazenovia, & Barry’s. N.Y., where her classes were filled with radical lesbians. Realizing that their ideas are superior, they’re HSBC Global Asset Management: much more effective at pitching Christian Deseglise, 47, was named feminist humor was in short supply, she focused her jokes in that area. them.” The implications are clear, regional head of wholesale for global By 1983 she was performing stand-up regularly. She got her big break Mr. Goncalo adds: “Narcissists asset management, North America. He in 1996, when she landed a gig writing for The Rosie O’Donnell Show. make great salespeople.” was formerly with BTG Pactual where To celebrate her 30th anniversary in comedy, the three-time author he was a partner in charge of business. Do you agree that egotism and Orrick, Herrington & Sutcliffe: Peter J. recorded her Lady Haha show, being released next month. charisma go hand in hand? Tell us at See EXECUTIVE MOVES on Page 22 —alix strauss www.crainsnewyork.com/execinbox.

January 3, 2011 | Crain’s New York Business | 21 20110103-NEWS--0022-NAT-CCI-CN_-- 12/29/2010 4:06 PM Page 1

RÉSUMÉ REVIEW Running anti-poverty race Is your job search all it could be? We ask the experts. What is your organization’s focus? poverty. And third, the events are NAME JOHN FREDRICKS Robin Hood’s targeted We have a straightforward mission: fun. They offer the highest possible SUMMARY funding, fab fetes to fight poverty in New York City. quality of entertainment for a great Market research and insights Close to 2 million of our neighbors cause. professional with experience with make it hot commodity are struggling in poverty. global brands What achievement are you the proudest How do you decide what groups of so far? PROFESSIONAL EXPERIENCE BY MIRIAM KREININ SOUCCAR to fund? We’ve been very influential in Reader’s Digest, 1991-1993, 1995-2010 We focus on four program- terms of education reform. We’re Director, global market research OUNDED IN 1988 by hedge matic areas: early child- the first and the largest funder of Responsible for all market research initiatives fund manager Paul Tudor hood, education, job high-quality charter schools in Synaptic Digital (formerly Medialink), 1995 Jones, the Robin Hood training and eco- New York City. Manager, public relations research Foundation has morphed nomic security, Managed research efforts for clients of broadcast public relations firm Finto one of the most successful so- and survival. What is the largest grant Pearson Education, 1994 cial services charities in New York. Each grant you’ve made? Senior research analyst The organization, whose board we make is We provided $30 million Designed and managed research initiatives, increased market share members range from the Wall determined to start Teacher U at Elrick & Lavidge, 1990-1991 Street elite to by where we Hunter College, a new Account manager Gwyneth believe master’s degree-granting Managed all aspects of the research process for clients Paltrow, hosts Robin Hood’s teachers training pro- Marriott International, 1988-1990 MOVERS & legendary investment gram. We also just built Senior analyst SHAKERS galas known can have the a high school in Crown Designed and supervised qualitative and quantitative research activities both for their greatest im- Heights, Brooklyn, for entertain- pact—some- 1,600 students, and we’re in EDUCATION David ment—pro- thing we assess with a the process of building another Syracuse University, Ph.D., M.A., social psychology Saltzman vided by the set of metrics. high school in the Bronx. Dominican College, B.A., psychology likes of The Résumé appears in condensed form. Rolling Why is Robin Hood so Do you think nonprofits have made EXPERT ADVICE Stones and successful at raising money? it through the worst of the recession? Beyoncé—and for the millions of I attribute our success to a I fear the worst is yet to come. Whenever you can provide dollar amounts or statistics in your résumé, you dollars they raise. The May gala few things: first and fore- We’ve seen a 30% increase in the demonstrate tangible value to your potential employer. The candidate was brought in a record $88 million, up most, the cause. People number of people going to soup wise to group both stints at Reader’s Digest under one header, even from $72 million at last year’s event. want to save lives if they kitchens, and increasingly, it’s though it bends the rules of reverse chronology. Excise the ’80s from your In 2010, Robin Hood made grants know it’s being done in an effec- mothers taking their little kids for resume; the position can be summarized without dates. worth a total of $110 million to tive and efficient manner. Sec- supper. There will be government —matthew rothenberg, editorial director, TheLadders.com more than 200 groups in all five ond, our board underwrites all cuts in services and funding for not- boroughs. Executive Director the costs of our fundraising for-profit organizations, and the To contact this candidate or to be featured in “Résumé Review,” e-mail us David Saltzman has been there events, so people know every needs are going to continue to be ex- at [email protected]. since the beginning. penny they give goes to fight traordinary. Ⅲ

EXECUTIVE MOVES Schementi, 53, was promoted to senior loan team on the global fixed-income suites, premium seating and service. He was formerly a partner at Covington vice president and chief financial officer platform. He joined from Lord Abbett, Sean Downes, 39, was promoted to vice & Burling. at the fundraising organization for where he was a partner and director of president of corporate entertainment Interactive Advertising Bureau: Patrick Continued from Page 21 higher education in Israel. He was high yield. solutions. He joined MSG Sports in Dolan, 48, has been promoted to chief Rooney, 43, was named a partner at the previously vice president and chief Herrick Feinstein: Jason 2009 as director of suite sales. operating officer. He continues as law firm. He was most recently a partner financial officer. D’Angelo, 38, was MKDA: John Giuseffi, 49, was promoted executive vice president and was at McDermott Will & Emery. Fordham University: Michael Latham, 43, promoted to partner at to executive vice president and senior formerly chief administrative officer. New York City was appointed dean of Fordham College the law firm. He was project director for the corporate space David Doty, 58, was promoted to chief Department of at Rose Hill. He was previously serving previously counsel. planning and interior design firm. He marketing officer, a newly created Buildings: Susan J. as interim dean. David Feuerstein, 37, was previously senior vice president. position. He was previously senior vice Pogoda, 61, was Frankfurt Kurnit Klein & Selz: Deborah was promoted to Daniel DeSiena, 57, was promoted to president of marketing and thought appointed deputy Wolfe, 50, joined as a partner in the law partner at the firm. executive vice president and director of leadership. commissioner of legal firm’s corporate and finance group. Most He was previously design. He was previously senior vice Pryor Cashman: Alice B. Stock, 49, joined affairs. Most recently, recently, she was a partner at Hogan an associate. president. the firm as a partner and member of the she was special counsel Lovells. Avery Mehlman, 44, was promoted to Lon Skidds, 39, was promoted to senior labor and employment and immigration at the New York Goldman Sachs Asset Management: partner. He was previously an associate. vice president. He continues as project law groups. She was previously a partner Liquidation Bureau. Michael Goldstein, 42, was hired as co- M. Darren Traub, 36, was promoted to manager. at Lowenstein Sandler. American Technion Society: Michael head of the global high-yield and bank partner. He was previously an associate. Ari Weisfelner, 36, was promoted to Kellner DiLeo & Co.: Don MacNeil, 40, Mound Cotton Wollan & Greengrass: Paul senior vice president. He continues as joined the investment management firm S. Danner, 36, was promoted to partner project manager. as senior vice president of the securities at the law firm. He was formerly an United Way of New York City: Kevin CORPORATE LADDER lending group. Most recently, he was associate. Taylor, 46, was appointed senior vice director of the prime brokerage division Barry R. Temkin, 53, was promoted to president for institutional advancement for BNP Paribas. CAMPBELL HEADS HARLEM SCHOOL partner. He was formerly of counsel. at the nonprofit organization. He was City National Bank: Mimi Kidd, 61, Daniel J. Endick, 37, was promoted to formerly managing director of joined as a vice president in the private THE BOARD OF DIRECTORS of the Harlem School of the Arts appointed Yvette special counsel. He was formerly an development at the Robin Hood client services division in New York. She L. Campbell executive director. Ms. Campbell, 44, has served as director of associate. Foundation. most recently served as a senior vice the Ailey Extension for more than five years, creating new programming and Sanjit S. Shah, 45, was promoted to Time Inc.: Randall president and managing director for overseeing its marketing, staff, faculty, budgets and general special counsel. He was formerly an Rothenberg, 54, was Herald National Bank. operations. The continuing education program, launched in associate. named executive vice Proskauer Rose: Justin Breen, 35, was Nest Seekers International: April 2005 to generate revenue, has served more than Caroline president and chief promoted to partner at the law firm. He Grane, 32, was named senior vice digital officer, a newly was most recently an associate at Cahill 42,000 adult students, enjoying average annual president and managing director at the created position. He Gordon & Reindel. compounded growth of 50% over four years. real estate firm. She was most recently a was formerly president Cahn Capital Corp.: Michael C. Caska, 52, Ms. Campbell’s board experience includes vice president at CORE. and chief executive of was named managing director for the more than 10 years as a board member of PwC: Didier Lavion, 44, joined the the Interactive investment banking firm. He was previ- JazzXchange in London and Elisa Monte assurance, tax and advisory firm as a Advertising Bureau. ously president at Sands Brothers & Co. Dance in New York City. She came to New principal in the forensic services SapientNitro: Billie Edington, 24, was —maggie wells practice. He was formerly a principal at promoted to senior associate of social York more than 20 years ago to study dance Ernst & Young. marketing strategy and analysis at the EXECUTIVE PROMOTIONS at the Ailey School and performed with Ailey Madison Square Garden Sports: Mike customer experience company. She had II, Shapiro & Smith, and Eleo Pomare. Ondrejko, 34, was promoted to senior been business development manager. The fastest way to get an announcement into —MAGGIE WELLS vice president of corporate hospitality Bracewell & Giuliani: Larry Silverman, Crain’s is to submit details online. Fill out the form sales and service. He joined MSG 57, was appointed head of the New York at www.crainsnewyork.com/submit. The Sports in 2009 as vice president of civil litigation practice at the law firm. Executive Moves column is also available online.

22 | Crain’s New York Business | January 3, 2011 20110103-NEWS--0023-NAT-CCI-CN_-- 12/29/2010 4:07 PM Page 1 chemex / INSATIABLE CRITIC Gael Greene www.oneclub.org/oc/store/?p=122. For flickr.com THE information, call (212) 979-1900 or e- mail [email protected]. WORKSHOPS WEEK WEDNESDAY , JANUARY 12 WORKSHOP IN BUSINESS OPPORTUNITIES will host a workshop on the benefits of Much more AHEAD developing a website for your business. Topics will include online marketing techniques, how to drive traffic and JAN. 10-16 branding your business image. The free event will be held at The Hive, 55 Broad than a pizzeria St., 13F, from 6:30 p.m. to 8:30 p.m. For CONFERENCES & SEMINARS information, call (212) 684-0854, ext. bloomberg news New Donatella serves MONDAY , JANUARY 10 0538, or visit www.wibo.org/events. STRATEGIES FOR EMPOWERED LIVING WHAT HE’S good, reasonable invites health and human services URAL CULTURALT EVENTS Pick READING professionals to a seminar on tools for WEDNESDAY, JANUARY 12 of the Italian food in Chelsea personal motivation, burnout prevention CLASSIC STAGE COMPANY and productivity.The seminar will be led reunites much of the cast week MARKET MAVENS don’t come any EFORE THERE was Do- by Cassandra Mack, author of Success and creative team from the bleaker than Jim Rogers, natella the brand, there Starts Now, and will take place from 10 2009 production of Uncle Vanya, this chairman of Rogers Holdings. Mr. was Donatella the wom- a.m. to 1 p.m. at 460 W. 41st St. in the time in Three Sisters, by Anton Chekhov. Rogers thinks Fed Chairman Ben second-floor training room. The fee is The cast includes Maggie Gyllenhaal, an, an obedient old buck ennis $50, and preregistration is required by Josh Hamilton, Jessica Hecht and Peter Bernanke is inept, the U.S. will A FAVORITE: Spaghettini world Italian daughter Jan. 8. To register, visit Sarsgaard. Austin Pendleton again default on its debt within five Band serious restaurateur, an odd mix www.strategiesforempoweredliving.com. directs. Tickets are $75. The first years and the euro is doomed of vulnerability and drive in a beau- DONATTELLA preview will be held at CSC, 136 E. to disappear in a decade or so. tiful New Yorker. But I don’t twist NETWORKING EVENTS 13th St., at 8 p.m. To purchase tickets, At a recent forum sponsored by myself into a pretzel analyzing what 184 Eighth Ave. TUESDAY , JANUARY 11 call (212) 352-3101; for more (212) 493-5150 THE ONE CLUB Thomson Reuters, he said he’s fuels Danny Meyer or Jean-Georges Join at the Museum of information, visit bullish on commodities, farming http://donatellanyc.com Modern Art for the Best of the Digital www.classicstage.org/2011_sisters.shtml. Vongerichten,so maybe I’ll just give and producers of “real assets.” Donatella Arpaia a break. Decade Gala celebrating the top 10 digital creative campaigns. The evening SUNDAY , JANUARY 16 When not scouring the world for The goods news is that the new will include a champagne reception, THE FRICK COLLECTION presents the investment opportunities, the 68- Donatella in Chelsea is much more CUISINE Pizza and more dinner and the presentation of Diotima Quartet. The group performs year-old money manager likes to than just another Neapolitan pizze- PRICE RANGE Entrées $10-$24 nominated and winning works. The the music of our time within the context read to his two young daughters. ria surrounding a bar, as it sounded event takes place between 7 p.m. and of Classical and Romantic string quartet His favorite book at the moment: in early hype. What matters in the SERVING Lunch, dinner 7 days; 11 p.m. at MoMA, 11 W. 53rd St. repertoire. The concert will be held at 1 McGuffey’s Reader, a primer first gathering specter of Donatella the brunch Sat., Sun. Tickets for the general public are $300, E. 70th St., from 5 p.m. to 6:30 p.m. published in 1836. celebrity is that you may actually RESERVATIONS Recommended while One Club members pay $240. Tickets are $30 for the general public find her in this long narrow room, Agencies may purchase tables in the and $25 for members of the museum. “My daughters prefer to read decked out with beguiling light fix- NOISE LEVEL Happy to obnoxious chairman’s circle for eight guests at For information, call (212) 547-0715 or easier books,” he said. “But this $5,000, which includes ongoing visit www.frick.org/calendar. book was being used when tures by Johnny Swing and vintage I can’t wait to return. promotional benefits. Order tickets at —maggie wells maps of Naples. Granted, it’s low America was genuinely great.” I will definitely go back. —AARON ELSTEIN frills—a warm welcome not quite To view Crain’s classified events listings, go to www.crainsnewyork.com/events making up for tiny tables close to- I’ll let them simmer awhile. gether and revved-up voices bounc- NO HATS Never again. ing off brick and plaster. There are no serving spoons of- fered for divvying dishes. One has to engine. It almost didn’t matter that ask each time. I’m weighing that the seafood salad caponata di mare against the cheery serving crew and was original and good, that the cala- how good the food can be. And how mari quickly disappeared and that I reasonable. Even if you’re ravenous liked the crisper cappellaccio pizza or over-order, you might spend only with charred and marinated mush- $50 per person,with pasta just $15 to rooms.The noise was exhausting. $17 and grills starting at $23 for We return on a relatively calm whole sea bream. But we’re sur- Wednesday at 8, without a reserva- rounded by savvy millennials eating tion, and spy the boss communing for much less, following a $16 pizza with the kitchen crew. She sits down with a sharable portion of the elegant and eyes our pizza. I’ve asked to have Naples-style eggplant parmigiana, it extra crisp, even slightly scorched. just $13, or a recent $8 antipasti ad- “So many people complained, we’re dition imported from Mia Dona, cooking them 10 seconds longer,”she five of Mama Maria’s luscious meat- explains. Fifty-five seconds instead balls—the savory orbs that took first of the 45 it took to turn out the soft place against 40 top chefs, including doughy rounds in the sparkly gold- Rocco DiSpirito’s Mama Nicolina, tiled oven she had an Italian master in a recent Meatball Mania clash. build on site. There’s definitely an On our earliest visits, La Arpaia improvement in our favorite,the Di- materialized belatedly when sum- avolo, with peppery batons of spicy moned. The first night she sent out sausage on San Marzano tomatoes, two logs of luscious potato croquette mozzarella and pecorino. from the options under Fritti—re- I’m focused on my favorite salad viving memories of street-food fa- here, Donatella’s namesake chopped vorites of Naples. We tried all the vegetable salad, with large slivers of pastas, debating our favorites, big carrot, thin petals of pink radish, bits tubes of al dente paccheri alla Gen- of broccoli and cauliflower,radicchio ovese (with braised beef and sweet and cabbage, all smartly dressed. onion sauce) versus spaghettini with “We can actually talk tonight,” I sea urchin and fennel,and took home observe. the rotisserie D’Artagnan chicken “I asked about complaints. My we just couldn’t finish. staff thinks that noise just bounces But the noise was like a perfect off that one table,” she says. storm the Saturday night we re- Yes, and if you close your eyes, turned.The crowd was big and boozy you can’t get pregnant,I’m thinking. and uninhibited, waiting for tables, packing the bar,shouting to each oth- Copyright © 2011 by Gael Greene. er.It was like sitting inside an airplane Syndicated by www.insatiable-critic.com.

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