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INSIDE Sin City: Pot, HEALTH CARE pop and Local ponies, hospitals by the suffer growing ® numbers pains PAGE 3 PAGE 2 Plus: NY’s top VOL. XXVIII, NO. 24 WWW.CRAINSNEWYORK.COM JUNE 11-17, 2012 PRICE: $3.00 hospitals list PAGE 16 Greg David: Why city’s med centers must merge or die PAGE 11 Meet two of the busiest property buyers in town PAGE 3 Brooklyn Heights morphs into retail hot spot NEIGHBORHOODS, PAGE 7 john kuczalajohn ALL BETS ARE ON a massive development project that will include a Cuomo’s gambling reversal gives Javits Las Vegas-style casino, hotels and retail along the BUSINESS LIVES Hudson River. The plan is gaining support from shot at hotel, casino jackpot via Pier 76 many corners, including individual members of GOTHAM GIGS Friends of the Hudson River Park Trust. Tourists’ ticket to Jacob K. Javits Convention Center, complete It’s not an entirely new idea—parts of it first exclusive events P. 25 BY LISA FICKENSCHER with a grand casino and luxury hotels. See ALL BETS on Page 5 ● ANNE FISHER How to Earlier this year, Gov.Andrew Cuomo threat- overcome the tech Pier 76 is home to the Police Department’s tow ened to tear Javits down. Now the center’s sup- TAPPAN ZEE TURMOIL Gov. Andrew Cuomo’s talent shortage P. 25 pound and horse stables. But in the near future, porters,and perhaps even the governor,are weigh- other big, troubled public-works proposal Page 5 it could become an extension of the neighboring ing plans to expand the facility and make it part of ● MOVERS & SHAKERS Dewey partner down but not out P. 26 ● GAEL GREENE Hot and IN THE MARKETS spicy at Singapura P. 27 Fashion BID seeks INDEX Volcker rules (on NEW YORK, NEW YORK ______6 new label THE INSIDER ______8

REAL ESTATE DEALS ______9 bank regs, that is)

VIEWPOINT ______10 A changing district SMALL BUSINESS ______12 wants distance from CLASSIFIEDS Former Fed chief ______19 BY AARON ELSTEIN FOR THE RECORD its garmento past ______22 in final push to stop EXECUTIVE MOVES ______25 banks from betting it Like a lot of people,Paul Volcker is THE WEEK AHEAD ______27 disgusted with the nation’s bank- BY ADRIANNE PASQUARELLI ing system. The former Federal all with your money newsbloomberg Reserve Board chief isn’t happy PAUL VOLCKER said even bankers don’t The Fashion Center Business Im- that so much business is concen- understand the complexities of banking. provement District has worn its trated in a handful of giant banks name proudly for nearly two that he says are too big to properly decades. Yet come 2013, a manage. He’s alarmed that these client relationships to make a fast wardrobe change of sorts will take institutions used their govern- buck on their trading desks. In place. As designers exit the gar- ment-insured deposits to gamble short, says the legendary central ment center, replaced by new ten- on super-risky securities. He’s en- banker who broke the Great Infla- ants including hoteliers and visual NEWSPAPER raged when they exploit long-term See VOLCKER on Page 4 See FASHION on Page 24 20120611-NEWS--0002-NAT-CCI-CN_-- 6/8/2012 8:06 PM Page 1

IN BRIEF NEW YORK’S HEALTH CARE ECONOMY STRAUSS DISCOUNT AUTO’S 580 EMPLOYEES FOUND THEMSELVES JOBLESS LAST WEEK when the auto supply and service retailer suddenly shuttered its 19 stores across the city Hospitals suffer growing pains and its remaining 27 shops in New Jersey and Pennsylvania.The South River, N.J.-based company filed for bankruptcy and is looking for BIGGEST GAINERS hospitals face growing governmental a buyer. “The assets and stores are being heavily Costs grow 6.3% as pressure to cut costs by treating patients marketed,” said Eric Horn, an attorney Percentage change in operating outside the very place that traditionally representing Strauss. He said “a combination of med centers face expenses, 2010 to 2011 generates income: the inpatient bed. factors” led First Niagara, the company’s senior The cost constraints have led to a lender, to cease funding, but would not merger pressures NYU Langone wave of consolidation. The latest exam- elaborate.The company has filed for Chapter 11 +17.5% ple came last week,when NYU Langone at least three times since 2006. It once operated BY GALE SCOTT North Shore University Hospital and Continuum announced the possi- 110 stores but had only 46 at the latest +10.0% bility of a merger. If Continuum’s acute- bankruptcy filing, including nine in Brooklyn Hospital spending in New York’s crowd- care facilities (Beth Israel Medical Cen- and six in Queens. Website Sheepshead Bites ed, competitive health care scene keeps St. Barnabas Medical Center ter, St. Luke’s-Roosevelt Hospital and first reported the story. growing, pumping billions of dollars +9.7% New York Eye and Ear Infirmary) were into the local economy. But that hasn’t Memorial Sloan-Kettering combined with NYU Langone, it would FOUR RUNDOWN, OVERLEVERAGED made hospitals healthier. +8.6% be the largest hospital in the city. Their MULTIFAMILY BUILDINGS IN THE BRONX Expenses at the top 25 hospitals in merger talk has not surprised industry received an injection of much-needed capital the New York metropolitan region Hospital for Special Surgery analysts, who have long predicted fur- courtesy of a new owner, Workforce Housing reached $24.4 billion in 2011, up from +8.6% ther hospital consolidation here. Advisors Inc. Morgan Stanley will provide $7.5 $22.9 billion in 2010, a 6.3% increase, “Market forces are definitely picking million in interim financing to help start the according to Crain’s annual ranking of up where the Berger Commission left rehabilitation of the Creston Avenue buildings, the area’s largest hospitals (page 16). are due to a rise in patient volume. But off,”said David Sandman,who served as which have piled up code violations and liens. For some, like the Hospital for Spe- for many, the increase has not been the executive director of the state panel The money will be used to pay down the cial Surgery, bigger operating expenses matched by an equal uptick in revenue as See HOSPITALS on Page 24 $750,000 in outstanding property taxes, municipal liens and repair bills that the previous owners amassed, according to Workforce founding partner John Crotty. His firm initially bought the note on the buildings, which total 120 units, and foreclosed on them earlier this Everyday Health closes in on year.  BY THE NUMBERS WebMD’s online dominance Weekly shift of the city’s economy HOME SWEET HOME Last week brought signs of Brooklyn-born firm is a recovery in house construction as well as the  first cut in Chinese interest rates in four years and now No. 1 in traffic and hopes that other central banks would follow suit. expects to take revenue 19% $3,438 6.4% lead within five years U.S. ADULTS AVERAGE RISE IN paying using helmets all monthly May rent passengers flying BY MATTHEW FLAMM or most of the in Manhattan, through NY area time riding a bike an all-time high airports in 1Q, vs. Source: Centers for Source: year earlier The past few months have been busy Disease Control and Citi Habitats Source: Port ones for health information Web prop- Prevention Authority of NY & NJ erty Everyday Health. Its debut TV ef- fort, Everyday Health, was nominated HOMEGROWN NYC developers have been racking up for an Emmy—a first for a show from a permits for residential housing units pretty steadily for the digital company. It launched 11 pro- past six months. grams on YouTube and announced a % change year-over-year slew of hires for its sales and video teams. +232.4% But most significantly, the SoHo- +164.2% based company, its executives say, has been taking advertising market share +105.6% from its chief rival, WebMD. Everyday +75.1% +68.4% Health already leads in Web traffic. The pioneer in the online consumer -42.7% health care sector, Chelsea-based Web- 11/11 12/11 1/12 2/12 3/12 4/12 MD has lately run into a host of troubles, Source: U.S. Census Bureau including a failed bid to go private and ADDICTED TO NUMBERS? a stock price that’s fallen 50% from a GET A DAILY DOSE AT @STATSANDTHECITY year ago. Now Everyday Health is hell-bent on CORRECTIONS surpassing the revenue leader to become the dominant player in a field that is a Gabrielle Gould was previously counsel at Freshfields Bruckhaus particular strength of the New York dig- Deringer. Her title was misstated in the May 28 Executive Moves. ital media scene. Greg Pass, the founding entrepreneurial officer for CornellNYC The numbers show Everyday Health Tech, is 36. His age was misstated in the June 4 Corporate Ladder. buck ennis gaining on every front. Advertising and KEYS TO SUCCESS: Acquisitions and licensing deals, online video and advertising analytics have helped The name of the merger advisory firm Peter J. Solomon Co. was sponsorship revenue at WebMD fell 20% misstated in the June 4 “Big Banks losing M&A biz.” co-founder Ben Wolin (a 2008 Crain’s 40 Under 40) woo Big Pharma dollars. in the first quarter, compared with the vol. xxviii, no. 24, june 11, 2012—Crain’s New York Business (issn year-earlier period, to $88 million—the 8756-789x) is published weekly, except for double issues the weeks of July Fourth, Labor Day and Christmas, by Crain Communications second straight quarter of double-digit million in revenue this year,according to have $500 million in revenue in Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at declines. Ad revenue at privately held a person familiar with the firm. Revenue 2012, down 11%, according to Barclays New York, N.Y., and additional mailing offices. Postmaster: Send Everyday Health,by contrast,spiked 40% in 2011, boosted by 30% growth in Research. address changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber serv- in the first quarter, according to Ben ad sales over the prior year, came to Having built up the company through ice: Call (877) 824-9379. Fax (313) 446-6777.$3.00 a copy, $99.95 one Wolin, co-founder and chief executive. $130 million. acquisitions, partnerships, licensing year, $179.95 two years. (GST No. 13676-0444-RT) See EVERYDAY HEALTH on Page 24 ©Entire contents copyright 2012 by Crain Communications Inc. The company is approaching $200 WebMD, meanwhile, is forecast to All rights reserved.

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STATS & THE CITY MAYOR MICHAEL BLOOMBERG’s proposed ban on the sale of plus-size sugary drinks coincided with Gov. Andrew Cuomo’s call to decriminalize low-level marijuana posses- sion. These efforts raised the questions: How much soda is bad? And how much pot is not so bad? And are the two related? (Think: the munchies.) Meanwhile, the mayor doused an idea to require bikers to wear helmets, and a labor dispute at Belmont racetrack was resolved days before an expected Triple Crown bid. In each case, statistics told the story. —ANDREW J. HAWKINS THE TOTAL NUMBER of average-size marijuana joints a person could display in public without 63being subject to arrest, under a proposal by the governor. While High Times magazine says a joint weighs 0.5 to 0.75 grams, marijuana-legalization group NORML says 0.4 grams is enough. So, 25 grams—Mr. Cuomo’s decriminalization maximum, worth about $350 on the street—could yield 63 joints. Dude, that’s a lot of weed.

HOURS AND MINUTES of walking (at a 2.5- mph clip) it would take a 150-pound 2:15person to burn the nearly 600 calories in a 51-ounce sugary soda, the largest size offered by AMC Theatres. A ban on the sale of such drinks 16 ounces or larger at Health Department-regulated businesses would put a serious dent in the movie-theater industry. AMC, which has nine locations in the five boroughs, also offers 32- and 42-ounce sodas, but patrons get free refills with a purchase of the largest size.

BICYCLISTS KILLED in the city DAUNTLESS DUO: Savanna last year, nine more than in co-heads Nicholas Bienstock (left) bikers are and Christopher Schlank have a taste 2010. About 2,000 for complex stuff. hospitalized statewide after 21crashes each year, 38% with brain injuries. But the mayor opposes requiring helmet use, buck ennis perhaps worried that it would discourage participation in the bike-share program he’s launching this summer. Bike Savanna sees gold commuting in the city has risen 14% since 2010—little wonder, then, that Citigroup will spend $41 million to sponsor the bike-share rollout. in gnarliest deals THE NUMBER of racetrack workers whose labor dispute at Belmont Park could have gage at a discount and worked out a deal to Realty Corp., acquired more in the period, jeopardized the bid by I’ll Troubled buildings? take over the 1906 building while simultane- according to RCA Analytics. 80Have Another (who was later retired) to ously negotiating with the “A lot of buyers say they become only the 12th horse to win the Triple Bad debts? Doesn’t landowner to forgive other SAVANNA’S 2012 want these hairy deals, but Crown. The New York Racing Association debts and OK the transaction. NYC PURCHASES that’s a lot of hogwash,” said announced a deal with the International stop these prolific Now Savanna plans to pour Ⅲ David Schechtman, a principal Brotherhood of Electrical Workers, which the millions into renovating the 15 E. 26TH ST.: 150,000 at brokerage Eastern Consoli- square feet of office/retail track employs. NYRA’s remaining problem is 72,000-square-foot site. dated. “There aren’t a lot of NY property buyers space on floors 1 to 8 at nearby Aqueduct Racetrack, where almost By using a strategy that topped by 12 floors of companies that know how to do 20 horses have died since the opening of typically begins with buying residential condominiums them.” Resorts World Casino last fall. BY THERESA AGOVINO up the debt on troubled The allure of such deals is Ⅲ second-tier buildings and 40 MERCER ST.: 24,000- easy to understand. Complica- Real estate investment firm Savanna struck then using that position to square-foot retail condo tions drag down prices, which again last month,scooping up 576 Fifth Ave., take control, Savanna has Ⅲ 576 FIFTH AVE.: 72,000- in turn gives buyers the possi- a tarnished jewel box of a building on the edge blossomed into the city’s sec- square-foot office building bility of far fatter profits.Savan- of the diamond district, in the sort of com- ond-most-prolific post-re- na targets returns of 20%—a plex transaction that has become its cession acquirer of office multiple of what plain-vanilla hallmark. buildings, buying 10 properties since 2009. transactions provide these days. The lure of

It grabbed the property’s defaulted mort- Only the city’s largest landlord, SL Green See SAVANNA on Page 23 photos: bloomberg news, istock

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IN THE MARKETS by Aaron Elstein

icize the rule for being too complicat- ed and say Mr. Volcker’s legendary Volcker rules grasp of modern finance has slipped. buck ennis “Paul Volcker by his own admis- Lauren Elkies Andrew J. Hawkins Emily Laermer Continued from Page 1 major, systemic change, and I don’t sion has said he doesn’t understand tion of the 1970s, the nation’s big think the public really grasps that,” capital markets,” jabbed JPMorgan banks have lost any sense of a moral said Marcus Stanley, policy director Chase CEO Jamie Dimon earlier New editors, reporter compass. at Americans for Financial Reform, this year.“Honestly,he’s proven that “The trading mentality, which I a coalition of labor and consumer to me.” think was going through [recently] groups. Mr.Volcker agreed last week that, for Crain’s New York at JPMorgan, is the antithesis of the Last month’s massive trading yes,he doesn’t fully understand all the kind of ethical approach and bal- loss at JPMorgan seemingly offers complexities of contemporary bank- Crain’s New York Business wel- Crain’s from Manhattan Media’s ance” that must be expected from regulators ample cover to write a ing—but added that most bankers comed three new staffers to the City & State, where he was man- banks, he told a gathering of Co- tough rule. But Mr. Volcker is tak- don’t either, as shown by the fact that newspaper and its website in re- aging editor of the fortnightly lumbia Law School students and ing no chances and lately has all the gains from proprietary trading cent weeks. newspaper and launched its daily faculty last week. stepped up his campaign to see the between 2000 and 2007 were wiped Lauren Elkies has joined First Read e-newsletter. regulation through. out in 2008. His more than 50 years Crain’s as a news producer. Emily Laermer has been named Far-reaching reform “His credibility and prestige are in the field, including stints at Chase Among her duties for the paper assistant data editor.She will help Now Mr. Volcker is about to have unmatched by anyone in banking, Manhattan Bank, the Treasury De- and website are editing the dai- research Crain’s directories and something done about it. Next and I’m quite sure if his name wasn’t partment and the Fed,give him deep ly Morning 10 email and steer- lists of top New York companies month, federal regulators are expect- attached, the rule would have no insight into the animal spirits of ing such daily news features as and compile its For the Record ed to formally adopt the Volcker chance,” said Dennis Kelleher, chief bankers and how to corral them. the morning’s RED Wrap and page. Ms. Laermer, 23, had been Rule, a part of the 2010 Dodd-Frank executive of consumer-advocacy It isn’t practical to break up huge the afternoon’s Real Estate Dai- a reporter-producer for Crain’s. financial reform law that almost com- group Better Markets. banks whose failure would threaten ly Alert. Ms. Elkies, 39, was the Her infographics-reporting work pletely bans banks from using their In the past month alone, Mr. the economy, he said, which is why Web editor of The Real Deal,a while an intern for the paper in own capital to make risky trades.The Volcker has testified before the U.S. clamping down on their speculative monthly trade magazine and 2010 was honored last year with a rule’s underlying idea is that Senate and met with trading is ultimately the daily blog. She’s also a former national Sigma Delta Chi Award government-insured deposits should political leaders in Eu- He’d curb a wisest policy response. reporter for the now-defunct from the Society of Professional never again be used to finance the rope and China.He has He’s not a fan of the New York Sun. Journalists. most speculative activities of Wall met privately over the $50 trillion British approach of Andrew J. Hawkins is a reporter “Lauren, Andrew and Emily Street. For years, banks have been fu- past several months “ring-fencing” risky ac- covering city and state govern- are bright young talents who riously lobbying to weaken the rule, with every major finan- global debt tivities from a bank’s ment and politics and contribut- bring great journalistic strengths which is perhaps the most far- cial regulator in Wash- lending and deposit- ing to the Crain’s Insider newslet- and fresh ideas to Crain’s,” said reaching financial reform to come out ington. The Upper market taking division.“My ex- ter. Mr. Hawkins, 32, comes to Editor Glenn Coleman. of the Obama administration. East Side resident who perience with ring- “The Volcker Rule would be a grew up in Teaneck, fences is the gophers go N.J., has also spoken underneath and the deer locally at such venues as jump over,” he said at a Columbia and Cooper Union, even Senate hearing last month. “When though an aide said Mr. Volcker you’re in a crisis, banks leap over turns down more than 90% of the boundaries. And regulators say,‘OK, speaking invitations he receives. we have a crisis, go ahead and leap.’ ” FACT: It’s a hectic pace for anyone, nev- er mind someone who turns 85 in Writing the rule September and has nothing to prove. Mr.Volcker said he isn’t involved “I’d rather be fishing,” Mr. in writing the rule that bears his Volcker said in an interview with name—“I’ve had enough of that in Crain’s last week. His favorite form my lifetime”—but he is busy meet- of relaxation is traveling to the rivers ing those who are. of Quebec and fighting to land 40- Days after the rule was unveiled Everyone knows pound salmon. last October,he met to discuss it with Bankers are pushing back at Mr. the Fed governor, who oversees bank the personal health Volcker and his rule for a simple rea- regulation. He met with a senior benefi ts of going son:The reform could hammer their Treasury official in December, and business. According to an analysis the chairman of the Securities and smoke-free. But did you last year by Sanford C. Bernstein & Exchange Commission in February, know that it can also improve Co.,a mind-blowing 80% of the $50 and had an audience with Treasury trillion global debt market falls un- Secretary Timothy Geithner in your business’ health? der the rule,and making big bets fu- March, according to meeting records eled with debt or derivatives was a from the agencies. Last month, he It’s easier than you think. much bigger business for a handful discussed the Volcker Rule via phone of large banks last decade than mak- with the chairman of the Commodi- Contact the NYC Coalition For A ing loans or taking companies pub- ty Futures Trading Commission. Smoke-Free City today to learn more lic. Citigroup estimated that com- Federal records show that, about how you can go smoke-free. Visit: plying with the rule would cost through April, Mr. Volcker had banks a total of $500 million initial- granted as many private meetings nycsmokefree.org/smoke-free-housing ly and then $130 million annually. with Mr.Geithner this year to discuss Beyond leading to lost revenues the Volcker Rule as Mr. Dimon has. and higher costs, the rule would rep- “They call me a towering figure,” resent a serious setback for banks that the six-foot, seven-inch Mr. Volck- over the past 30 years have grown ac- er quipped last week to his audience customed to getting whatever they at Columbia. “A friend likes to in- lobby Washington for. Bankers crit- troduce me as ‘too big to fail.’ ” Ⅲ

INCREASE IN AMERICAN INTERNATIONAL GROUP’S SHARE PRICE this year, making the insurer that received 31%$180 billion in U.S. bailout assistance the best-performing financial stock in the Bloomberg/Crain’s index of 200 New York-area companies.

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Bridge plan roils labor that it would create jobs upstate and public projects. Cuomo push to shift help the governor sell the project in A push by business groups for Tappan Zee steel sections of New York that might any offsite jobs not to pay prevailing otherwise be skeptical of such a large wages is also possible.A letter to Mr. work offsite triggers downstate expenditure. It could also Cuomo last month by a statewide mean a big payday for an upstate business coalition opposed extend- union backlash company,or a federally defined “dis- ing prevailing wage to public works bloomberg newsbloomberg advantaged business” that could be where materials are fabricated off- TROUBLED WATERS: A union leader says his members would lose $40 million in wages and BY DANIEL MASSEY created there to do the work. site. It did not specifically mention benefits if the state relocates rebar work for the $6 billion Tappan Zee Bridge replacement. the Tappan Zee project. Gov. Andrew Cuomo’s proposal for Uncertain motives “For the Tappan Zee, being able a new Tappan Zee Bridge, already “Is this about spreading the to twist rebar offsite is a real priori- 46 Business Manager Terrence project. Questions about whether criticized for its fuzzy funding plan wealth of the project around to the ty for cost savings and cost savings Moore wrote that carving his mem- the state is circumventing the com- and lack of mass transit,now has an- rest of the state to say that the Tap- alone,” said one construction indus- bers out of the cutting, bending and petitive bidding process could also other problem: a rift with organized pan Zee Bridge is not just a Westch- try source. fabricating of rebar for the bridge lead to legal challenges. labor that threatens to throw the $6 ester or Rockland project, it’s a New Local 46, whose jurisdiction in- would deprive them of more than Deputy Secretary for Trans- billion project into turmoil. York state project?” asked one labor cludes New York City, has been a $40 million in wages and benefits. portation Karen Rae, who is spear- Construction trades councils in source. “We’ve deliberated about perennial target of major construc- heading the Tappan Zee project for Rockland and Westchester counties this, but I can’t tell you we have an tion managers, who argue that its Deal deemed ‘suicide’ Mr. Cuomo, did not return a call last week overwhelmingly voted actual answer.” contracts protect an outdated busi- “It would be suicide for our local seeking comment. A spokesman for down a project labor agreement, or The state’s move could also low- ness model. Labor sources believe to support a PLA that deprived our the governor would not discuss the PLA, proposed for the new bridge er costs, though it’s not clear by how some of those contractors may be members of much of the work that rift with labor. He referred calls to that would’ve eased union wage and much. Local 46 recently reopened pressuring the Cuomo administra- they should be doing in connection the state Thruway Authority, which work rules.The Cuomo administra- its contract and agreed to cut wages tion to use the Tappan Zee to help with this project,” he wrote. has jurisdiction over the project. tion’s insistence on shifting much of and benefits by 15% on private proj- establish a new standard. Mr. Moore said he was “very dis- “We are continuing to negotiate the work away from Metallic Lath- ects and offered the same deal for The administration could also appointed in the process” but de- in good faith with labor to reach a ers and Reinforcing Ironworkers the Tappan Zee. Even with the dis- attribute an offsite work plan to the clined to comment further. Last project labor agreement on the new Local 46 prompted rejections by 30 count, the labor in a place like, say, Federal Highway Administration’s week, he gave a 50-minute speech Tappan Zee Bridge that will of the 36 trades that voted. Buffalo would could cost about $25 insistence that no provision in the before the vote by the Rockland provide important assurances for Multiple labor, construction and an hour less, though shipping the PLA may restrict competition. County Building & Construction workers and significant cost sav- government sources tell Crain’s the material nearly 400 miles to the Other federal projects along Inter- Trades Council and the Building ings,” said Thomas Madison Jr., the state wants to cut,bend and fabricate bridge site would add an expense. state 287 have included protections and Construction Trades Council of executive director of the Thruway the reinforcing steel for the project Also,if the union cuts its rates on for Local 46 members,but they have Westchester and Putnam, swaying Authority. Ⅲ offsite, possibly upstate, instead of the Tappan Zee, it would establish not been as large as the Tappan Zee. other unions to his side. on or near the bridge. It’s not exact- a new, lower prevailing wage that In a letter to Sen. Charles It’s not clear how much the lack LISTEN to a discussion at ly clear why, but one possibility is would save money on other Schumer obtained by Crain’s, Local of a labor deal will affect or delay the CrainsNewYork.com/podcasts

also publicly ex- Metropolitan Transportation Au- All bets are on pressed interest in thority’s East Side Access project, New York. once completed,will make the yards According to the even more desirable for develop- Continued from Page 1 walk from Javits. Regional Plan Asso- ment once trains connect from surfaced 20 years ago—but it’s gain- Six years ago, Mr. ciation, an urban de- Long Island City to Grand Central ing renewed interest now that exclu- Wachtel tried to in- velopment advocacy Terminal. sive talks between the governor and terest public officials group, there are at Governors Island is the least casino operator Genting Americas in a design he had least four viable sites likely of the options, because it can about building such a facility at the commissioned that in the city for the be accessed only by ferry. Conven- Aqueduct Racetrack in Queens have connects Javits to Pier mega-project, in- tion centers require easy access by ceased and an open bidding process 76 via a skywalk over cluding Aqueduct. 18-wheel trucks. for a mega-convention center in the the West Side High- (Genting said last “If the state is reopening this city seems to be in the works. way and replaces the week it was still pur- process,it should look at the island,” All proposals suddenly are fair tow pound at the pier suing the project, Mr. Yaro said, but added, “That is game, from plans to expand Javits to with more than 1 mil- and Mr. Cuomo said probably not a good use of the land.”

proposals to bring gamblers and lion square feet of ho- william courtesy wachtel of the company is still The biggest impediment to a conventioneers to sites ranging tel, banquet and retail A REIMAGINED JAVITS? A waterfront casino on Pier 76 could include a Ferris wheel. in the running.) The casino and convention hall project, from Willets Point and Sunnyside, space, a winter gar- other locations RPA however,is not a dearth of good sites Queens, to the Yonkers Raceway in den, a 2.4-acre public identified are closer but whether a constitutional Westchester County to even Gover- park and an 800-car garage. It has insisted. “Now that Aqueduct has to Manhattan than Aqueduct, amendment allowing full-scale nors Island, which MGM looked at also been identified by the operators fallen apart,I think this idea has new which is one hour away by subway. gambling will pass in New York. 14 years ago as a possible location for of the London Eye as a possible spot life,”said Mr.Wachtel,adding:“It is “The trade show industry has al- The Legislature passed a proposed a casino. for New York’s own Ferris wheel, finally time to turn the most expen- ways told us that their customers amendment this year to allow up to Javits is currently undergoing a Mr. Wachtel said. sive parking lot in the world into an want to at least see Manhattan,”said seven full casinos. A second vote $463 million expansion and renova- “The magnitude of what can be iconic part of the city, maybe even Robert Yaro, president of RPA. must occur next year to confirm the tion. A further expansion has wide built on the site is enormous,” Mr. the site of the city’s first hotel and Willets Point, a 61-acre site in intention; then New York voters support from trade show and con- Wachtel said last week, maintaining casino.” northeast Queens slated for rede- would get their chance to weigh in vention industry executives, who that his only motive is to improve the The idea also has plenty of com- velopment by Mayor Michael on changing the state’s constitution had been sidelined from earlier dis- city, not to boost his ferry business. petition and could face fierce politi- Bloomberg,is seen as the trade show to legalize casino card games, cussions with the governor (Crain’s, cal opposition. The biggest casino industry’s first choice for a huge roulette wheels, craps tables and May 21) and are now talking with Four viable sites in the city companies in the world are now ex- convention center—in addition to other types of gaming. all the major casino operators. He garnered some early interest ploring their options. MGM Re- keeping Javits. What’s more, Assembly Speaker “They are asking us the same in the plan from such political heavy- sorts International, for one, recently The city is close to a deal with the Sheldon Silver has voiced opposti- questions: Where and how big weights as Charles Gargano, who hired New York-based public rela- Related Cos. and New York Mets tion to locating a casino in Manhat- should the convention center be?” was chairman of the Empire State tions and lobbying firms to repre- owner Sterling Equities to develop tan. said Ken McAvoy,senior vice presi- Development Corp. at the time, and sent it here. 12 acres at the site, which would in- Casino operators will most likely dent of Reed Exhibitions, a major Dan Doctoroff, former deputy may- “We have always believed that clude retail and residential units,but lose interest in New York—and their trade show producer. “They know or for economic development. MGM’s unique destination resort many hurdles remain, including a desire to fund a massive convention that without the support of the cus- “We wanted to pursue it,” Mr. and convention experience is a great yearlong environmental study and center—if the law is not enacted. tomers, they won’t get anything Gargano recalled. “But then [Gov. fit for New York, and it’s now more City Council approval. “Convention centers are not that done.” George] Pataki decided not to run clear than ever that the governor’s Sunnyside Yards in Long Island profitable,” said Mr. McAvoy. “I’m The Javits plan has one big for re-election, and we didn’t have vision creates an exciting opportu- City,Queens,was suggested in 2007 sure the casinos want to know that booster in William Wachtel, a well- enough time to complete the nity for MGM,” said Alan M. Feld- as a possible site for relocating Jav- the law is passed [before they set up connected real estate attorney who process. My interest was in making man, senior vice president of public its. There is a 167-acre space, much stakes here].” Ⅲ also owns a commuter ferry busi- Javits bigger. Connecting it to the affairs for the company. of it used by Amtrak and the Long ness, BillyBey Ferry Co., at nearby pier with a skywalk makes sense.” Others, such as Wynn Resorts Island Rail Road. The area is large- LISTEN to a discussion at Pier 79 off 12th Avenue, a short It still makes sense, Mr. Wachtel and Las Vegas Sands Corp., have ly zoned for manufacturing. The CrainsNewYork.com/podcasts

June 11, 2012 | Crain’s New York Business | 5 20120611-NEWS--0006-NAT-CCI-CN_-- 6/8/2012 6:07 PM Page 1

Green Economy- Four Decades in Development NEW YORK,NEW YORK edited by Valerie Block Champions of the Earth 2012

Honoured in Rio De Janeiro on the Eve of Catalpa NYC: more than a music festival World Environment Day and Rio+20 ost music festivals are all about the acts. Catalpa NYC, a two- Mday event that makes its New Science and Entrepreneurial Grassroots Policy Entrepreneurial Inspiration York debut at Randall’s Island on July Innovation Vision Initiative Leadership Vision and Action 28, will offer a more eclectic mix of Sander Van Fabio Samson Tsakhia Sultan Bertrand der Leeuw Barbosa Parashina Elbegdorj Al Jaber Piccard entertainment. ¶ Ticketholders tired of waiting for the next band might find relief by dipping into a hot tub and sipping champagne. Lovers struck by lightning could get “hitched” in the inflatable marriage chapel.Those who can’t relate might dance to their own drummer in a tent while listening to festval catalpa disco on headphones. Other attractions include a sculpture that shoots 30-foot flames and a possible piece of art from Yoko Ono. “If people don’t walk into the site and say,‘What the hell is this?’ I won’t be happy,” said Catalpa founder Dave Foran. ¶ Of course, Catalpa will boast more than 27 musical acts and DJs, including headliners the Black Keys, Snoop Dogg and Girl Talk. ¶ Mr. Foran, 28, hails from Ireland, where his father is a concert producer. His 2- year old company, Frisky Productions, produced a concert tour in Brazil last year for Snoop Dogg. He hopes to establish Catalpa as an annual event in the Big Apple, but he needs to get the word out now. ¶ Catalpa can accommodate 22,500 people a day, but so far it’s sold www.unep.org/champions just a few thousand tickets, which go for $179 for two days or $99 for one day. VIP tickets, which include the hot tubs, run for $279. ¶“Year one for a festival is difficult,” said Mr. Foran. “You sell the vast majority of tickets in the last two weeks.” —lisa fickenscher

hardcover copies of the title, help draw attention to the theater. Book club revival which spent five weeks on the “We’re very confident that this pleases publishers New York Times best-seller list festival will put us on the map,” following its publication. It just she said. There’s no question that the got back on the list, at No. 14. —miriam kreinin souccar return of Oprah’s Book Club is —matthew flamm good news for the publishing industry. What remains to be seen Folksbiene plans NFL legend buys is whether Oprah Winfrey’s picks still LI lacrosse team become blockbusters, now that Jewish arts event the “Oprah’s Book Club 2.0” NFL Hall of Fame running back segment will appear on her cable The National Yiddish Theatre- and lacrosse legend Jim Brown has network, OWN, which attracts Folksbiene has something to kvell big plans for the Long Island fewer than a quarter of the 8 about.The nearly 100-year-old Lizards. Mr. Brown joined million viewers who tuned in for nonprofit is planning a new Medallion Financial Corp. and her broadcast show in its heyday. performing-arts festival for New other investors to snap up the So far, signs are mixed. A York City that will present theater, lacrosse team spokesman for Knopf, the music, film and art from around for roughly publisher of the club’s first pick, the world, centering on Jewish $1.5 million Wild, by Cheryl Strayed, noted that culture and identity. earlier this in the week since the The weeklong event, the month. announcement, sales spiked Kulturfest International Festival “I think for 500%, Walmart and Sam’s Club of Jewish Performing Arts, is the young guys ordered the title for the first time slated to take place in June 2015 I can be an in- since it’s debut in late March, and to coincide with the theater’s spiration,” said Target, which had been carrying centennial.The festival will be Mr. Brown, who played lacrosse at the book, increased distribution. formally announced June 12 at Manhasset High School and Though Wild never topped Folksbiene’s gala concert and Neil Syracuse University.“It’s a busi- Amazon’s best-seller list—where Sedaka tribute at Town Hall. ness move, but it’s a move of love.” Oprah’s picks used to go—it did Kulturfest is part of Folks- From 2010 to 2011, participa- jump to No. 7 the day after the biene’s strategy to re-energize its tion in the sport nationally grew announcement and has mission by focusing on new work by almost 10%, according to a remained in the top 20. and broadening its audience survey by U.S. Lacrosse. The 76- What’s more, e-book base. It has received a year-old Mr. Brown hopes to get editions, including one $250,000 grant from deep- more minorities on the field. with Oprah’s comments, pocketed supporters to Medallion President Andrew are outselling print develop the event and is Murstein said he sees “no reason copies. looking to raise another why the team can’t be worth 10 “Sales are increasing $1.25 million. times what we paid for it.” He on a daily basis,” the Bryna Wasserman, plans to generate revenue through spokesman said. Folksbiene’s executive corporate sponsorships as well as Altogether Knopf has director, said she Lizards-sponsored camps and shipped 225,000 expected the festival to youth clinics. newscom —ken christensen 6 | Crain’s New York Business | June 11, 2012 20120611-NEWS--0007-NAT-CCI-CN_-- 6/8/2012 3:18 PM Page 1

NEIGHBORHOOD JOURNAL Old B’klyn Hts. draws new faces

a commercial real estate firm. followed suit—including 30-year and florists. From downtown to Such a turnaround would have stalwart La Traviata, an Italian “There aren’t too Dumbo they come been unimaginable as little as four restaurant, last November—the many of us left,” years ago, when the recession strip’s vacancy rate has eased back to said Thomas Cal- FULL UP: Vacancy rates have plummeted to Montague Street claimed several businesses on Mon- 1.7%, according to data from the fa, whose family on the street as new spots have opened. tague.Vacancy rates topped out at 6% Montague Street Business Improve- started gourmet BY SHANE DIXON KAVANAUGH in 2008—on a street where vacancies ment District. And while retail rents deli Lassen & Henning in 1939, monn’s in Brooklyn,an Irish pub be- have always been rare. In a single now average between $100 and $115 which Mr. Calfa now runs. “Who’s tween Clinton and Court streets n air of timelessness en- week that year, furniture store Jen- per square foot, some spaces fetch as gonna come and open on this street that’s set to close on June 17.“That’s velops much of four- nifer Convertibles, the Spicy Pickles much as $250 per square foot. now? Chains. No little guy can af- the last of our bars,” he said. block-long Montague sandwich shop and a Washington Higher rents have forced out a ford it,unless he owns the building.” That’s not entirely true. A new Street, but the com- Mutual all shuttered on the street. number of mom-and-pop shops,in- Mr.Calfa noted that Montague’s Irish pub, Custom House, will open mercial hub of Brook- While other haunts have since cluding a bookstore, pharmacies latest casualty will soon be Ea- on Montague later this month. Ⅲ Alyn Heights is stirring as it hasn’t in years. A number of trendy eateries, cafés and boutiques have popped up in recent months along the street lined with handsome Beaux Arts and Romanesque Revival buildings and Victorian row houses. Upscale bakery and café Le Pain Quotidien opened its first Brooklyn outpost on Montague and Henry streets in April, serving pricey lattes and pesto tartines. Across the street, boutique clothier Ruby and Jenna set up shop in a second-floor storefront just last month, a week after a Star- bucks and Area Yoga & Spa Center moved in. They followed popular Manhattan cupcake purveyor Crumbs Bake Shop, which arrived 14 months ago a few doors down. “I’ve never seen this street so alive,” said Glenn Markman, who opened the Heights Cafe on the corner of Hicks Street 18 years ago with his brother Greg. This month, the siblings, along with partner Joseph Secondino,will inject a bit of new life when they open a brick- oven pizzeria, Della Rocco’s of Brooklyn, around the corner from their well-established eatery. Mr. Markman and others attrib- ute the surge in new establishments to growth not in the Heights, the borough’s oldest neighborhood— much of which became the city’s first historic district in 1965—but in sur- rounding areas.The new and still ex- panding Brooklyn Bridge Park along the waterfront below the Heights is now drawing thousands of people each week from across the borough, and even a few from Manhattan. Amenities in demand Meanwhile, the population of adjacent downtown Brooklyn has ballooned to 15,000 people from just 8,000 in 2009, courtesy of a se- ries of new high-rise residential buildings. In addition, there are nearly 1,000 new hotel rooms. But with amenities still in short supply downtown and in nearby Dumbo, locals and tourists alike have been drawn to Montague Street. More shoppers and diners may soon be on their way.Last month de- veloper David Bistricer snapped up the 93-year-old Hotel Bossert on Montague and Hicks streets from the Jehovah’s Witnesses, who have used the ornate property as a residen- tial facility. Once considered the Waldorf-Astoria of Brooklyn, the Bossert may return to its original identity as a 302-room luxury hotel. “The notion of a five-star hotel is about as good as it gets,” said Timo- thy King of CPEX Realty Services,

June 11, 2012 | Crain’s New York Business | 7 20120611-NEWS--0008-NAT-CCI-CN_-- 6/8/2012 6:08 PM Page 1

from criticism over the gambling money that may dent Mr. Cuomo’s JEFFRIES VS. BARRON robust approval ratings. Sparks fly THE INSIDER “This is nothing but a THE TIMING of Gov. Andrew Cuomo’s announcement on distraction to throw people off,” decriminalizing low-level marijuana offenses was a blessing said Agnes Rivera, a board member for Hakeem Jeffries, who had pushed for the change and by Andrew J. Hawkins and Shane Dixon Kavanaugh with Community Voices Heard, an earned a seat next to the governor at his press conference. advocacy group for low-income That same day, Rep. Edolphus Towns, D-Brooklyn, people that is often at odds with endorsed Mr. Jeffries’ opponent, Councilman Charles buck ennis Mr. Cuomo. Hakeem Jeffries Barron, in the race to succeed Mr. Towns. While a Quinnipiac University Mr. Jeffries had sought the endorsement and perhaps survey taken before the Times story expected it, given that his foe had reacted to Mr. Towns’ When trouble hits, broke pegged the governor’s retirement by saying he should have quit years ago. But Mr. approval rating at an eye-popping Towns apparently blamed Mr. Jeffries for ushering him out 71%, a Siena Research Institute by collecting more financial, labor and political support. wag the dog poll coming out June 11 In a sound bite worthy of a campaign ad, Mr. Cuomo could paint a different said of Mr. Jeffries, “The assemblyman can be a tenacious picture. Charles Barron advocate. I can tell you that firsthand, because I’ve been on spate of positive news spewed forth A Cuomo the other side of the table. But he can also bring people from Gov. Andrew Cuomo’s office as spokesman together to get something done. And that’s what he’s done here.” declined to Later in the week Mr. Barron blasted his opponent for “pure hypocrisy” The New York Times revealed that the comment on when Mr. Jeffries rejected aid from a pro-charter-school group—but only after the upcoming gambling industry had funneled the group had mailed 30,000 pieces of campaign literature to voters. millions into a group closely poll or on whether the StudentsFirstNY, which announced that it would spend six figures to help aligned with him. Mr. Jeffries, agreed to stop spending on the race. Mr. Jeffries’ spokeswoman A said he is opposed to such outside spending. Mr. Cuomo called for decriminalizing open possession of marijuana, announced job fairs across the state, helped broker a labor agreement and even teamed administration’s string of said. However, he noted that up with Attorney General Eric Schneiderman on a plan to announcements amounted to what Weight Watchers and fight prescription drug abuse. politicos call wagging the dog. Guggenheim Partners, both And, of course, he backed away from the casino and An Albany insider predicted the members of the organization, gambling story would have little support the measure. convention center project he had been negotiating for in effect on public opinion of the Queens. “It’s clear they’re trying to salvage the idea that they governor. “This is not a pocketbook Taxi endgame don’t do pay-to-play,” an insider said. issue for people,” the source said. Dick Dadey, executive director of government “It’s somewhat abstract and The legal battle over the city’s taxi esoteric—the same reason why plan will likely not be settled in watchdog Citizens Union, said the sudden pivot “raises people don’t cast votes based on court, but by city and state officials, a lot of eyebrows. … It doesn’t look good the way this campaign finance reform.” former Taxi and Limousine unfolded, given the strength of the Commissioner Matthew Daus said. administration’s initial support for the Sacrificial hotels “It’s highly unlikely the city will prevail [in court],” Mr. Daus said. project,” he said. Two hotel developments in “An appeal is fruitless.” A Some viewed the burst of activity as cover Manhattan were effectively killed Manhattan judge issued a newscom last week.The City Planning temporary restraining order Commission cut a proposed 190- blocking the city’s plan to issue new room property from New York licenses to allow livery cabs to pick University’s expansion plan, and up street hails. Mr. Daus, a partner Community Board 4 rejected at Windels Marx, predicted that top Chelsea Market’s proposal for a 12- elected officials would ultimately story boutique hotel next to its come together to rescue the plan. Discover Success. historic building. Meanwhile, taxi industry That was no surprise to one insiders expressed skepticism that We Measure Success in Client Satisfaction. insider, who suggested the hotels the city could sell $1 billion worth merely served as smoke screens to of medallions in one fiscal year, provide cover for controversial arguing that it has never been developments. “It seems like there’s done before. a new strategy out there,” the source said. “Add a hotel to any Done with Duane large-scale development. And when the community comes With state Sen. Thomas Duane not running and screaming, you seeking reelection, the Real Estate Coty Inc. is a leading global beauty company with an unrivaled portfolio sacrifice it.” Board of New York hopes for a better of notable brands. relationship with his successor, a Senate 119,682 SF expansion at the Empire State Building Rebuffing insider said. Mr. Bloomberg Duane (left) was Team: Richard Bernstein, Ralph Giordano and Jared Thal antagonistic toward While Mayor Michael REBNY throughout Bloomberg has gained his career, perhaps little support from reflecting the the city’s business leanings of his liberal Discover Expertise in Tenant Representation. community for his constituency. But the proposed ban on real estate group Discover Cassidy Turley. large sugary drinks, it won’t be very hasn’t been for lack of involved in the race trying.The Health to replace him. Peter Hennessy Department pitched “There’s not much President, New York Tri-State Region the Partnership for New York City with difference in the candidates,” a 212.318.9790 the proposal but was turned down. source close to REBNY said. [email protected] “We don’t need to take a “Besides, [an] endorsement would position on every issue,” a probably be the kiss of death for www.cassidyturley.com spokesman for the business group anyone running.” Ⅲ

For daily political and government news, subscribe to Tenant Representation / Project Leasing / Project & Development Services / Property Management / Corporate Services / Capital Markets CRAIN’S INSIDER @ www.crainsnewyork.com/insider

8 | Crain’s New York Business | June 11, 2012 20120611-NEWS--0009-NAT-CCI-CN_-- 6/7/2012 7:06 PM Page 1

REAL ESTATE DEALS

square feet at 888 Seventh Ave. The Yammer comes East with jobs asking rent was $65 a square foot. The firm, which specializes in en- tertainment law,will move from 1740 ated the other two deals on the part- signed on for 1,000 square feet on the Broadway. It is moving because land- A social-networking nership’s behalf. ground floor and 10,000 square feet lord Vornado Realty Trust Inc. needs site for firms checks DSW was represented by Brian on the second floor. The restaurant space to accommodate the growth of Katz of Katz & Associates and took entered into a 10-year agreement. one of the building’s largest tenants, in on W. 18th Street a 10-year lease for 10,000 square feet Mr. Rettaliata declined to comment. law firm Davis & Gilbert. on the second floor, the entire —adrianne pasquarelli Vornado also owns 888 Seventh ammer is about to be- 20,000-square-foot third floor and a Ave., which was a major part of the come the latest West share of the 2,000-square-foot first- deal’s allure, said Josh Kuriloff, a bro- Coast tech company to floor lobby. Tenant shifts ker at Cushman & Wakefield Inc. set up shop in the city. Blink will also take about 16,000 resented by Peter Levine of Charter to help landlord who represented the tenant with his After a search of nearly square feet in the basement as well Realty and Development Corp. colleague Jodi Roberts. Vornado rep- eightY months,the developer of social as a share of the lobby. The compa- Joe’s, which was represented by Law firm Levine Plotkin & Menin resented itself in the deal. networks for companies will open an ny has a 15-year lease and was rep- Ripco Real Estate’s Tom Rettaliata, has inked a 10-year deal for 7,600 —theresa agovino office at 218 W. 18th St. by the end of the summer. Yammer has signed a five-year lease for 13,500 square feet. The asking rent was in the mid-$50s per square foot. “Over the course of their search, their space requirement ended up doubling,” said CBRE Group Inc.’s Freddie Fackelmayer, who repre- sented Yammer along with col- league Ben Friedland. Yammer ex- pects to have 100 employees in the city, he added. “They wanted to be somewhere employees would be excited to be,” said Mr. Fackelmayer, adding that Google’s office around the corner was a plus. Peter Turchin and Gregg Rothkin, brokers at CBRE, repre- sented landlord Atlas Capital Group. Since its founding, Yammer has raised $142 million in venture fund- ing, according to its website. The firm, a Facebook for corporations, has a lot of things in common with the social-networking company that just went public. Sean Parker, Face- book’s founding president,is a mem- ber of Yammer’s board of directors. —amanda fung Harlem building lands 3 retailers Big changes loom for the corner of West 125th Street and Frederick Douglass Boulevard. Three well- known retailers—shoe discounter DSW, Equinox’s budget-friendly Blink Fitness and Ignite Restaurant Group’s Joe’s Crab Shack—have all inked leases for space at 301-303 W. 125th St., a new four-story develop- ment expected to be finished by year’s end. By mid-2013, all tenants are slated to move into the property, which is being developed by Aurora Capital, A&H Acquisitions and Sigfeld Group. The ground-floor asking rent is $150 a square foot. “This development site is at the corner of Harlem’s busiest intersec- tion,” said Jared Epstein, the Auro- ra Capital vice president who ON RISE represented Avg. monthly the owner rent for one- partnership in bedroom apt. the DSW in Manhattan deal, noting 2006 $2,514 the strong res- 2007 $2,634 idential and 2008 $2,611 student popu- 2009 $2,426 lations of the 2010 $2,453 neighbor- 2011 $2,681 hood. Morris 2012 $2,810 Harary, an as- Source: CitiHabitats sociate at A&H, negoti-

June 11, 2012 | Crain’s New York Business | 9 20120611-NEWS--0010-NAT-CCI-CN_-- 6/8/2012 2:57 PM Page 1

VIEWPOINT Careful there, governor editor in chief Rance Crain publisher, vp Jill R. Kaplan

hen Gov. Andrew Cuomo that has advertised heavily in support of Mr. Cuomo’s agenda. EDITORIAL announced plans in January for By reversing course on Genting, he got in front of the editor Glenn Coleman deputy managing editors Valerie Block, Genting to build a $4 billion Times story and so far has kept it from being considered a Erik Ipsen convention center beside its scandal. But it was a close call.Too close. assistant managing editors Erik Engquist, Jeremy Smerd Aqueduct racino, a few red flags The governor cannot afford to risk all the progress he’s senior producer, news Elisabeth Butler Cordova were raised. It seemed foolish to made in restoring New Yorkers’ faith that state government news producer Lauren Elkies contributing editor hurriedly decide such a complex can be effective and honest. In the past decade they have lost Elaine Pofeldt columnists Greg David, Michael Gross, and important matter in closed-door negotiations with a confidence in every governor: David Paterson’s approval Alair Townsend single company. rating plunged from 64% to 28% in a mere eight months. pulse editor Barbara Benson W senior reporters Theresa Agovino, Dissent came from newspaper editorial boards, from state Eliot Spitzer’s tumbled 24 percentage points during his first Aaron Elstein, Lisa Fickenscher, Matthew Flamm, Comptroller Thomas DiNapoli and from supporters of the year in office, and that was before his prostitution scandal. Daniel Massey, Miriam Kreinin Souccar reporters Amanda Fung, Andrew J. Hawkins, Jacob K. Javits Convention Center, which faced competition George Pataki’s rating, Shane Dixon Kavanaugh, Adrianne Pasquarelli from Aqueduct and even demolition under the governor’s which was above 80% art director Steven Krupinski Risking all the deputy art director Carolyn McClain plan. But on the whole, the objections were muted. Mr. in late 2001, fell below staff photographer Buck Ennis Cuomo’s sky-high approval rating and successful rookie year progress made 50% in the second year copy desk chief Steve Noveck copy editor Thaddeus Rutkowski largely immunized him from criticism. He had already won in making NY of his third term and data editor Suzanne Panara several victories by virtue of deals orchestrated quickly and never recovered. assistant data editor Emily Laermer researcher Amy Stern quietly, such as a retooling of the millionaire’s tax. Complaints more business- Public confidence in interns Esthena Brutten, Ken Christensen, about a lack of transparency—a subject Mr. Cuomo cited 11 Mr. Cuomo is essential Cara Eisenpress, Emily Lundeen, friendly Eva Saviano, Mary Shell times in his 2010 campaign platform—got little traction. if he is to continue Then, suddenly, the governor declared last week, “I want carrying out the largely EDITORIAL AND ADVERTISING OFFICES 711 Third Ave., New York, NY 10017-5806 to have a full, open competition” for a new convention, pro-business agenda he editorial: 212.210.0277 Fax 212.210.0799 gambling and entertainment venue in the city. And nothing has pursued so far. If state legislators sense weakness, they will advertising: 212.210.0711 Cable craincom nyk would happen until legislators and voters approved a resume their pursuit of narrow, parochial agendas—perhaps Fax 212.210.0499 constitutional amendment on gambling, meaning 2013 at allocating themselves discretionary money or sweetening Entire contents ©copyright 2012 Crain Communications Inc. All rights reserved. the earliest. Fast-track and backroom were out; deliberation public-employee unions’ pensions to offset the recent reform. ®CityBusiness is a registered trademark of MCP and openness were in. The governor could hardly call them out for doing favors for Inc., used under license agreement. What changed? Only the governor knows for certain. But special interests if he were known for doing the same. TO SUBSCRIBE: before he announced a new course on the convention center, We have no bone to pick with allowing a city casino that For subscription information and delivery concerns, please e-mail [email protected] he had learned that The New York Times was preparing a story facilitates a convention center to attract shows too large for or call 877-824-9379 (in the U.S. and Canada) or revealing contributions of $400,000 by Genting and $2 Javits. But there’s a bigger issue at stake, and that is the 313-446-0450 (all other locations.) $3.00 a copy, $99.95 one year, $179.95 two years. million by the New York Gaming Association to the governor’s reputation. In a town like Albany, he can’t give up www.crainsnewyork.com

Committee to Save New York, a business and labor coalition the ethical high ground. ADVERTISING AND MARKETING advertising director Trish Henry senior account managers Irene Bar-Am, Courtney McCombs, Sheryl Rose, Suzanne Wilson CRAIN’S ONLINE POLL COMMENTS account executive Jill Bottomley Kunkes sales coordinator print & online Danielle Wiener SHOULD BIKING newsletter product manager Alexis Sinclair WITHOUT A HELMET credit Todd J. Masura 313.446.6097 Say no to Albany deal director, audience development BE MADE ILLEGAL? Michael O’Connor TAX CUTS, YES. WAGE HIKE, NO hurt affordable housing”: The argument that senior marketing manager Date of poll: June 5 Intro 730, now pending before the City Catherine Schutten 294 votes The Long Island Association reiterates our Council, will somehow add an unbearable event producer Courtney Williams Lauren Melesio support for the state Senate majority’s New financial burden on contractors is simply false. reprint sales manager Jobs NY plan and our opposition to the state Employers are already required under the general manager, online & e-commerce Yes. Head Assembly majority’s efforts to increase the state’s Wage Theft Prevention Act to compile strategy Kira Bindrim injuries are senior web developer, interactive . 63% the leading minimum wage (“Pessimism may signal basic hourly wage information. Intro 730 simply Chris O’Donnell cause of Albany deal,”The Insider, June 4). requires that the contractor transmit to the city’s death and The Senate majority’s plan includes tax cuts Department of Housing Preservation and NEW YORK PRODUCTION

disability for small businesses, acceleration of the repeal Development the same information. production and pre-press director

among Michael Corsi . of the 18-A utility assessment, tax credits for The only circumstance under which Intro bicyclists. 37% advertising production manager job creation and regulatory reform.These will 730 would add a financial burden is if the Suzanne Fleischman Wies help create private-sector jobs, reduce energy contractor is not already complying with state costs and make the state more competitive. law. And in that case, the contractor has no PUBLISHED BY CRAIN COMMUNICATIONS INC. No. Requiring helmets could dampen Meanwhile, increasing the minimum wage business working in the city’s publicly funded chairman Keith E. Crain demand for the city’s bike-share. and indexing it to inflation would raise the cost affordable-housing program.The only people president Rance Crain of doing business for small and large com- who are afraid of government transparency are secretary Merrilee Crain treasurer Mary Kay Crain panies.The New York City and Long Island those with something to hide. executive vp, operations William Morrow economies will prosper with fewer government —robert bonanza senior vp, group publisher Gloria Scoby regulations and more tax cuts, which will allow Business manager group vp, technology, circulation, businesses to invest and hire more. Mason Tenders’ District Council manufacturing Robert C. Adams —kevin s. law of Greater New York and Long Island vice president/production & manufacturing David Kamis President & CEO chief information officer Paul Dalpiaz Long Island Association CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) For this week’s questions: Go to A FINANCIAL BURDEN WORTH BEARING Send columns of 475 words or fewer to www.crainsnewyork.com/poll to have your say. [email protected]. Please include the writer’s Re the May 14 opinion column “Wage bill will name, company, address and telephone number.

10 | Crain’s New York Business | June 11, 2012 20120611-NEWS--0011-NAT-CCI-CN_-- 6/7/2012 7:05 PM Page 1

OPINION

This agreement lets New Yorkers use their reciprocal frequent-flier pro- Sky-high stakes in grams to access the locations that Jet- Blue and American each serve. Plus, COLLECTION LITIGATION & JUDGMENT ENFORCEMENT American, through its Oneworld al- liance network, allows anyone flying airline bankruptcy on it to get direct connections from local airports to hundreds of destina- All types of debt collection matters and general tions around the world. commercial litigation, trials, and appeals. BY MITCHELL L. MOSS US Airways currently has three East Coast hubs—Charlotte, N.C., he summer travel season, when New Yorkers rely Washington, D.C., and Philadel- AGGRESSIVE - RESOURCEFUL - EXPERIENCED - RESPONSIVE most on air travel,has begun.But New Yorkers’ca- phia—and its airline activity from New York is built around its shuttles pacity to choose how and where to fly will suffer if to Boston and Washington. American Airlines is needlessly pressured into a The airline already has two oth- shotgun merger with US Airways. er gateways on the East Coast and 100 LAFAYETTE STREET - SUITE 601 | NEW YORK, NY 10013 American Airlines is going through a federally regulated has retreated from New York by 212-608-5300 | WWW.DORAZIO-LAW.COM T trading slots at La Guardia with bankruptcy process; this takes time, since it entails negotiation Delta. US Airways’ proposed busi- with creditors, unions and government agencies. US Airways ness plan appears to be more focused on making Philadelphia—not New wants to short-circuit this process lines, not a bloated US Airways, York—its Northeast gateway.If that and take over American Airlines be- which has consistently failed in its strategy is implemented, New York fore American can legally reorgan- earlier efforts to acquire bigger and jobs would be lost, and the entire ize its labor and personnel systems. better airlines. city would be hurt. Aviation is critical to our city’s American Airlines has the most For more than three-quarters of economy, allowing people to come service of any carrier to Latin Amer- a century, American Airlines has here from all parts of the globe to ica and the Caribbean—from New been an integral part of the life in work, shop, visit, study and play. York and through Miami. These this city. Now it is going through a Without hundreds of direct flights routes are vital to the city’s growing reorganization that will allow it to DOWNLOAD every day, New York would be just demographic groups and business strengthen—not weaken—its pres- another city. needs; that’s why American has ence in New York.We should recog- CRAIN’S BOOK OF LISTS US Airways is promising to made New York one of the five ma- nize that what’s good for American maintain outmoded labor packages, jor U.S. cities in which it plans to Airlines is good for New Yorkers. though this would inevitably dimin- base its reorganized airline business. ish the air services New Yorkers have American also intends to expand Mitchell L. Moss is the director of the Rudin come to rely on. New York deserves its agreement with JetBlue,the largest Center for Transportation Policy and a strong and solvent American Air- carrier at JFK International Airport. Management at New York University.

ical centers and smaller community hospitals, never able to marshal the Hospitals’ choice: financial or managerial resources to thrive. Its position has recently been un- dermined as North Shore-LIJ merge or die moved into Manhattan with its takeover of Lenox Hill Hospital and its planned emergency care facility avid Skinner arrived from Chicago in late 1987 at the former St. Vincent’s Hospital to take over the ailing New York Hospital at a complex in Greenwich Village. time when its medical reputation was tar- Meanwhile, NYU Langone has been revived after its divorce from a nished, its occupancy falling and its budget disastrous merger with Mount awash in red ink. Sinai. However, its leadership knew He tackled the problems and launched a wave of acquisitions, that its position was tenuous and D that it needed to get much bigger. capped by the 1996 merger with Presbyterian, which remade The task ahead is enormous, the health care system in New York.That was a good thing,and since the new and unwieldy system will need to be rationalized and cut The online version of Crain’s Book of Lists Dr. Skinner’s influence The North Shore-LIJ costs dramatically amid the uncer- includes all of the rankings that appeared continues to be felt— Health System matches tainty of where national health care in the print and digital editions of Crain’s notably, in last week’s New York-Presbyter- policy is headed. announcement that ian in almost every way It is that rationalization that will New York Business. NYU Langone Medical on its home turf of lead to an enormous outcry similar Center and Continuum Long Island and to the ones that accompanied the Crain’s lists spotlight and rank the key players Health Partners will Queens. Montefiore is closing of St. Vincent’s or the effort within the multitude of industries serving pursue a combination. equally successful in its to save Brooklyn’s numerous The product of Dr. domination of health money-losing hospitals through a NYC, and features industry vertical rankings, Skinner’s vision, New care in the Bronx and similar transformation. executive contacts, revenue, and much York-Presbyterian, has its own stellar repu- The unfortunate fact of life is more. dominates the local GREG tation,especially for us- that New York has too many hospi- health care scene be- DAVID ing technology to im- tals (propped up by an average cause of its size ($3.5 prove care and cut costs. length of stay far longer than the na- Use this unique resource to uncover new sales billion in revenue; see Two powerful inde- tional number). That adds enor- leads, connect with industry leaders, gather the list of the New York area’s largest pendents—Memorial Sloan-Ket- mously to the cost of the system and competitive intelligence, and benchmark your hospitals, page 16) and the fact that tering and the Hospital for Special makes most of the institutions business. it makes money and that its care is Surgery—command large chunks hopelessly unprofitable. widely considered the best (ranked of the market in the lucrative spe- Now all eyes will turn to Mount No. 1 in New York by U.S. News & cialties of cancer care and orthope- Sinai, itself a great turnaround story Download the 2012 Book of Lists at World Report, for instance). dics. after its parting from NYU. Can it It isn’t alone, however. Two oth- In this world, Continuum’s col- continue to go it alone? Almost crainsnewyork.com/lists er systems created in the merger lection of hospitals was trapped in a certainly not. North Shore, are you wave have succeeded almost as well. no man’s land between the big med- interested?

June 11, 2012 | Crain’s New York Business | 11 20120611-NEWS--0012-NAT-CCI-CN_-- 6/7/2012 7:07 PM Page 1

SMALL BUSINESS Canon cuts photo shop out of picture

stores in Manhattan, it has 42 em- refused to train Photo Tech’s tech- (now Ritz Camera & Image)— Photo Tech fears ployees and revenue “in the low sev- nicians to fix its new digital cameras intervened on its behalf, he says. losses if it’s unable en figures,” according to its presi- and won’t sell Photo Tech the test- Since then, Photo Tech has dent,Frank Naraine.Over the years, ing equipment to diagnose and cal- asked Canon several times for train- to do testing, repairs its technicians have adapted to ibrate the devices. ing and testing equipment. The changing technology. Today, about camera company responded in writ- 98% of Photo Tech’s repair work is Layoffs possible ing that it doesn’t authorize third BY EILENE ZIMMERMAN for digital cameras and parts;70% of Mr. Naraine said his company parties to perform warranty repairs. those are single-lens reflex cameras, stands to lose 30% of its business, “I’m not worried about the train- or more than 50 years, or SLRs, and lenses. potentially forcing the layoffs of five ing,” said Mr. Naraine. “We could Photo Tech has been a Soon, though, Photo Tech will to seven technicians. The last time do that ourselves. But I can’t service go-to repair place for be unable to repair new Canon SLR Canon provided training was five the newest digital cameras and buck ennis New York City’s pho- cameras, because Canon, the years ago, after one of Photo Tech’s lenses without the software and WITHOUT CANON: Frank Naraine said Photo Ftographers. With three world’s largest camera maker, has customers—Ritz Camera Centers testing equipment.” If he had that Tech could lose 30% of its business. equipment, Mr. Naraine estimates, he could eventually add 10 to 15 technicians to his staff. Melissa Dara Moritz, a spokes- Commercial Banking Group woman for Canon U.S.A. in Lake Success, L.I., commented by email: “For many years, Canon U.S.A. has repaired digital SLRs and cam- corders through factory service cen- ter locations only. Canon has no plans at this time to authorize third- party service providers to perform repairs on Canon Digital SLR or camcorder products.” When customers bring new Canon digital SLR cameras to Pho- to Tech for repair, the shop must now send them out, at a shipping cost of $40 to $50. Return of the cameras can take a week or more. Fast service Professional photographer Amar Dewal, owner of BNB Photography in Woodbury,L.I., has been a Photo Tech customer for seven years. “If I damage my equipment, I can go in the morning and usually have it back the next day,” he said. Mr.Dewal,who uses only Canon equipment, is mystified by the cam- era company’s refusal to allow Pho- to Tech to do its repairs. “I don’t un- derstand the logic behind it,”he said. “I know the techs who work on my cameras.They do an excellent job.” Canon’s reluctance may be part of a trend away from third-party re- pairs on more advanced camera equipment. Nikon isn’t allowing third-party repairs on its most recent digital SLR camera, the D3200. Agata Kaczanowska, an enter- tainment industry analyst at research firm IBISWorld,said that as cameras become more complicated, the cost of technician training rises.“Because the components behind the new technology are more intricate, it makes sense that companies like Canon and Nikon are moving away from third-party repairs,” she said. That leaves Mr. Naraine in a predicament. Many of his techni- There’s no substitute for experience. At Capital One Bank®, we make it our business cians have worked for him for dec- to work alongside companies like yours every day. Backed by the strength of a top-10 ades. He worries he will be forced to U.S. bank, we’ve got the industry experience to help give your business a lift. make layoffs if he can’t repair new Canon equipment. “These guys are in their 40s, 50s and 60s, and they Ellen Marshall, Commercial Banking Executive are like family to me,” he said. [email protected], (212) 764-8315 “What will I say to them now—go start a new profession?” Ⅲ

To sign up for Crain’s Products and services offered by Capital One, N.A., Member FDIC. © 2012 Capital One. Capital One is a federally registered service mark. All rights reserved. SMALL BUSINESS newsletter, go to www.crainsnewyork.com/smallbiz.

12 | Crain’s New York Business | June 11, 2012 20120611-NEWS--0013-NAT-CCI-CN_-- 6/7/2012 6:49 PM Page 1

HEALTH CARE INSIDE The List New York area’s largest hospitals PAGE 16 ‘We don’t have grateful patients; we have hopeful patients’ —Susan Solomon, New York Stem Cell Foundation founder, page 14 Field of vision Private NY lab becomes major player in stem-cell research

2011 by Time magazine. BY GALE SCOTT And in a second remarkable achievement, foundation re- Stem-cell research is a sizzling-hot searchers have devised a method for field—the box-office blockbuster of culturing hundreds of living human biomedical research. Global com- cells in less time than it takes to grow petition for funding and scientists is them one at time—a milestone in fierce, and the stakes—the potential the quest to find a way to screen new to use these human cells to cure drugs quickly and safely. deadly diseases, restore sight, mend “NYSCF has been astonishingly broken bones, even reverse mental successful,”said Robin Elliott,exec- decline—are enormous. utive director of the Parkinson’s Those prospects are so Disease Foundation. exciting that Californians “They’ve done an amazing voted in 2004 to spend $3 $100M job in creating a major insti- billion over 10 years to set up AMOUNT tution in New York at a time a stem-cell research insti- NYSCF has when biotech money has raised since tute.The global research tab its founding been very scarce.” is in the hundreds of billions in 2005 Founder Susan Solomon, SUSAN SOLOMON of dollars, while the Nation- a successful Manhattan created the New al Institutes of Health spent nearly businesswoman with a law degree York Stem Cell $3.5 billion from 2008 to 2011.The and an entrepreneurial bent, created Foundation with NIH expects to spend $1.2 billion it with her own money in 2005.The her own money. this fiscal year, about what it has idea came to her after she had been spent in each of the past two years. through a string of unhappy family But in a small laboratory in Man- events, including her mother’s death hattan, using mostly private dona- and a son being diagnosed with dia- tions, the upstart New York Stem betes. “Everyone experiences their Cell Foundation has become a ma- mortality differently,” she said. “I jor player in just six years. Starting started thinking about curing some with three employees and no grant of these terrible diseases, and I start- money, it has grown to a staff of 51, ed this institution.” boasting affiliations with a dozen Ms. Solomon rented a 500- academic centers and an annual square-foot lab and did fundraising budget last year of $18.3 million. Its from her apartment. Already an ex- scientists’ success in introducing perienced fundraiser for the Juvenile DNA from a human skin cell into an Diabetes Foundation, she talked unfertilized egg from a separate with scientists who, she learned, donor was named the “No. 1 med- were angry about federal restrictions

buck ennis ical breakthrough of the year” in See STEM CELL on Page 14

Hospitals’ latest must-have? Not a surgeon HELP WANTED! New managers vie person who helps make sure that pa- cleanliness and quietness of rooms best-rated could even come out tients are satisfied with everything will help determine what hospitals ahead, in a Robin Hood-like Chief patient to impress patients, from nursing care to Internet access get in Medicare reimbursements. scheme to prod improvement by experience to the service in the gift shop—so The Health Care Association of New taking from the worst and giving to gain referrals satisfied,in fact,that they would rec- York estimates that based on 2011 the best. In New York the stakes are officer sought ommend the hospital to others. scores,hospitals in the state could col- particularly high. On what is con- to manage BY HILARY JOHNSON The patient experience officer is lectively lose more than $6 million. sidered one of the most telling ques- operational becoming hospitals’ latest must-have It’s a tiny fraction of the $6 billion the tions—how likely patients are to excellence Last fall, NYU Langone Medical executive. Hiring such people is one state gets in Medicare reimburse- recommend a hospital—New York Center posted an opening for a new- of a series of measures institutions are ments annually,but individual hospi- hospitals rank a low 64%, compared

ly expanded position at the hospital. taking as competition for patients in- tals could lose much more. Those with the nationwide average of 70%. istock The posting wasn’t for a brain sur- creases and as they prepare for feder- losses would come on top of other Those scores have sent hospitals geon, a pediatric cardiologist, an ad- al reimbursement standards due to go cuts and would most affect institu- scrambling to upgrade buildings, want to improve the patient experi- missions clerk or any other typical into effect in October. Performance tions that are already struggling. reach out to patients and improve ence because it’s the right thing to hospital job. It was instead a call for on issues such as pain management, If their outcomes and patient the way they communicate. do,” said Dr. Bernard Birnbaum, a chief patient experience officer, a patient communication, and the satisfaction are good enough, the “There’s no question that we See HOSPITALS on Page 18

June 11, 2012 | Crain’s New York Business | 13 20120611-NEWS--0014-NAT-CCI-CN_-- 6/7/2012 6:50 PM Page 1

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Cancer Center, Mount Sinai Hos- progress. Ms. Solomon credits that cells and tissue. Mr. Nestor came to pital, NYU Langone Medical Cen- achievement to her decision to give NYSCF after a three-year stint at Stem-cell research ter, Albert Einstein College of researchers, most of them newly the National Institutes of Health. Medicine and New York-Presbyter- minted physicians and Ph.D.s, Theorizing that the memories lost in ian Hospital and its affiliated med- free rein to explore their interests Alzheimer’s disease are not truly lost Continued from Page 13 from government interference. ical schools. and hunches without the academic but are stored in the brain’s hip- on stem-cell research. The Bush ad- Since then, the foundation has or governmental constraints other pocampus,he is using his knowledge ministration had banned using feder- weathered the controversy over the Contributing to progress scientists face. “We’re small and of electricity to find a way to relight al funds to create new stem-cell lines use of embryonic stem cells and has “We are trying to be a catalyst,” very entrepreneurial,” she said. “If the brain circuitry shut down by the from discarded human embryos. Sci- raised $100 million, including more said Ms. Solomon. “Our whole fo- something makes sense, we can just disease. entists told her they feared that med- than $90 million from private cus is on accelerating the field, and do it.” “I’m here so I can do my experi- icine had lost the work of a genera- sources and $8.4 million from New we’re agnostic as to where an ad- That freedom to work on what- ments,” he said. “At the NIH, my tion, as young scientists chose other York state. It collaborates actively vance comes from.” ever disease or scientific puzzle in- hands were tied because your work fields or decamped to countries with- with other institutions, training and And though NYSCF has yet to terests them is a big draw for young has to follow the government’s dol- out such restrictions. Researchers supporting researchers or working find a cure for any of the targeted scientists like Mike Nestor,34,who lars,” as well as the interests of one’s were eager to see her succeed and with clinicians at Rockefeller Uni- diseases, its discoveries are widely is an expert in electrophysiology,the superiors. loved the idea of a private lab free versity, Memorial Sloan-Kettering seen as contributing to significant study of the electrical properties of Though the foundation has a full- time staff, including Dieter Egli and Scott Noggle—the superstars credit- ed with the discovery that made the cover of Time—most of those bent over microscopes or monitoring high-tech instruments have three- year fellowships and are in their ear- Replacing a human hand is a unique challenge. ly 30s, just starting their careers. Postdoctoral fellow Giuseppe So is protecting our employees. Maria de Peppo, 30, is using stem cells to try to grow new bone “We performed the nation’s first five hand transplants—we’re tissue on a matrix of cells from ca- used to complex challenges,” says Dr. Tien. “But when it comes daver donors. Others are working to protection, we turn to Aflac…at no cost to the clinic.” on replicating cells damaged by multiple sclerosis, Parkinson’s dis- “Major medical keeps costing more, and covering less,” adds ease, leukemia, ALS and other de- Jennifer Wright. “We see it every day. With Aflac, we offer bilitating,often-fatal maladies.Still our staff more certainty in uncertain times.” others are focused on the delicate and critical mechanics of manipu- lating stem cells. Hear the rest of their story at aflac.com/healthcare Young staff Though many institutions are en- gaged in medical research, the New York foundation is unique. “They may well be the single biggest [insti- tution] to focus 100% on stem cells,” said Brock Reeve, executive director of Harvard Stem Cell Institute, which has collaborated with NYSCF. Not that there aren’t challenges ahead. Cures for the myriad ail- ments in which scientists believe stem cells may play a role are likely years, even decades, away. In the meantime, the foundation has to find new funding every year. Recent donors include the Charles Evans Foundation, which gave $1 million for work on Alzheimer’s disease. But the facility has no income- generating endowment or federal funding. Although the 2001 ban did not completely eliminate federal fund- ing for stem-cell work, it limited re- searchers to cell lines created before that year. Since then, guidelines is- sued in 2009 allow researchers to work on new lines of embryonic stem cells developed with private funds. That vastly expanded the number of cell lines available. But the ban on using federal funds to create these lines remains in effect. Jennifer Wright HR Specialist The result is that much of the Dr. Huey Tien Surgeon work done by NYSCF is still not Kleinert Kutz & Associates, Kentucky eligible for federal money, and its researchers must rely almost entire- ly on private donors. Unlike hospi- tals and disease-centric founda- tions, NYSCF can’t appeal to appreciative patients and fami- lies—at least not yet. Individual coverage underwritten and offered by American Family Life Assurance Company of Columbus. In New York, individual coverage underwritten and offered by American Family Life Assurance Company “We don’t have grateful patients; of New York. Some policies may be available as group policies. Group coverage underwritten and offered by Continental American Insurance Company. Policies may not be available in all states. Aflac pays cash we have hopeful patients,” said Ms. benefits directly to the insured, unless assigned. There may be indirect administrative or other costs to the employer. Individuals’ travel expenses for securing this testimonial were paid by Aflac. Solomon. “It’s harder, and it takes NAD1192 someone who is a little more sophis- ticated and who understands how medical research works.” Ⅲ

14 | Crain’s New York Business | June 11, 2012 CN015190.qxp 5/25/2012 4:21 PM Page 1 20120611-NEWS--0016-NAT-CCI-CN_-- 6/7/2012 7:06 PM Page 1

REPORT HEALTH CARE New York Area’s Largest Hospitals Ranked by operating expenses

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16 | Crain’s New York Business | June 11, 2012 HE’S 95,

TAKES 10

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AND FEELS DEEPLY

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©2012 VNSNY CHOICE 20120611-NEWS--0018-NAT-CCI-CN_-- 6/7/2012 7:06 PM Page 1

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offering its member hospitals train- clinically wrong that you may not ing to improve communications. have found if you didn’t round as of- Hospitals’ latest must-have exec At NYU, for example, Patient ten,”said Dr.Alan Cooper,vice pres- Experience Chief Nina Setia coach- ident for the Center for Learning and Continued from Page 13 open our Kimmel Pavilion tomor- posters are banned, replaced by dig- es staff not to ask whether patients Innovation.“You can satisfy your pa- NYU’s chief of hospital operations. row, our patient satisfaction scores ital screens, making for a sleeker, have questions, but rather to ask tients’ needs proactively, instead of “But there’s also no question that would probably climb at least 25%.” cleaner-looking entry area. what questions they might have. having them ring the call bell.” dollars are involved now, so we have “People will feel really good “When we ask if instead of what, Will famously kvetchy New to improve our programs so we can Making upgrades about walking into the hospital,” most of the time the patients will say Yorkers even notice? And even if try to reclaim those dollars.” In Brooklyn, Maimonides Med- said Chief Executive Pamela Brier. they don’t have any questions,” they do, can hospitals please all of At many New York institutions, ical Center is spending $40 million Hospitals are also homing in on wrote Ms. Setia in an email. “Pa- the patients all of the time? where aging and cramped buildings to renovate its cardiac, medical, sur- communication with patients and tients always have questions, and The latest results aren’t in yet— are a fact of life, the focus has been gical and neonatal intensive care among employees, a necessity in a when they don’t get to ask them, it the next rankings will be released in on modernizing facilities. At NYU units—places where patients and world where health care delivery is only makes them more anxious.” the fall—but some hospitals, like Langone,for example,the $1 billion their families can end up spending increasingly complex. North Shore-LIJ,say they have seen Kimmel Pavilion, with single rooms many days—and has upgraded its “The ability to effectively com- Anticipating needs improvements in patient satisfac- only, is slated to open in 2017. Sin- center for breast imaging and municate as a team has become even Similarly, North Shore-LIJ, like tion based on their surveys. gle rooms tend to boost positive pa- health. Free Wi-Fi is available more essential,both in terms of per- many hospitals, has institutional- “You run a good place,”said Mai- tient ratings as well as improve in- throughout the hospital for visitors ception of care and real outcomes,” ized hourly “rounding,” where staff monides’ Ms. Brier. “You’re kind, fection control. and patients, and most patient said Lorraine Ryan,senior vice pres- regularly stop in patients’ rooms to humane and respectful.You work to “The No. 1 thing I wish I could rooms now have flat-screen TVs. In ident of legal,regulatory and profes- see if they need anything. make the hospital look nice. Then change overnight is facilities,” Dr. the lobby, where a $6 million reno- sional affairs for the Greater New “If you’re checking on your pa- you hope and pray that patient sat- Birnbaum said. “If we were able to vation is underway, old-style paper York Hospital Association, which is tients every hour, you can find things isfaction reflects that.” Ⅲ

18 | Crain’s New York Business | June 11, 2012 nb24p19-21cl.qxp 6/8/2012 2:57 PM Page 19

PUBLIC & LEGAL NOTICES BUSINESS

Notice of Qualification of Wisdom Notice of Qualification of EVEREST OPPORTUNITY Foods Carmine Street, LLC. App. for ACQUISITION LLC. Authority filed REQUEST FOR PROPOSALS Auth. filed with Secy. of State of NY with Secy. of State of NY (SSNY) on ASSUME EXISTING FULL (SSNY) on 4/17/12. Off. loc.: NY 04/04/12. Office location: NY County. SERVICE TRUCK LEASE New York City County. LLC formed in Delaware LLC formed in Delaware (DE) on (DE) on 4/16/12. SSNY designated 03/23/12. Princ. office of LLC: 9 W. Assume existing full service truck lease as agent of LLC upon whom process 57th St., 43rd Fl., NY, NY 10019. on a 2008 Ford 15 Foot High Cube Truck against it may be served. SSNY SSNY designated as agent of LLC (within a 75 mile radius in NY) through shall mail process to: c/o Leith Hill, upon whom process against it may Mendon Truck Leasing. Take over the 333 E. 53rd St., Apt. 8H, NY, NY be served. SSNY shall mail process remainder of a full service lease for 10022. DE address of LLC: c/o The to Attn: John J. Suydam at the princ. approximately 12 months at $1,600 per Corporation Service Company, 2711 office of the LLC. DE addr. of LLC: month or your best offer. Current leaseholder Centerville Rd., Ste. 400, Wilmington, c/o Corporation Service Co., 2711 is very intent on selling the lease. Truck is DE 19808. Arts. of Org. filed with DE Centerville Rd., Ste. 400, Wilmington, in excellent condition with low mileage. Secy. of State, Townsend Bldg., New Castle Cnty., DE 19808. Arts. of Mendon provides extensive services as Dover, DE 19901. Purpose: any and Org. filed with The Secy. of State of part of the lease agreement. For more all lawful act or activity. the State of DE, Dept. of State, Div. information contact: Lew Greenstein of Corps., John G. Townsend Bldg., [email protected] or ask for OPTIONS CAPITAL MANAGEMENT 401 Federal St., Ste. 4, Dover, DE Wendy (201) 595-0280. LLC, a domestic LLC, Arts. of Org. 19901. Purpose: Any lawful activity. filed with the SSNY on 5/4/12. Office location: New York County. SSNY is Notice of Formation of OZ STUDIOS, designated as agent upon whom LLC. Arts. of Org. filed with Secy. EVENT process against the LLC may be of State of NY (SSNY) on 05/03/12. Office location: NY County. SSNY served. SSNY shall mail process to: 2012 ACG New York Champion’s Award The LLC, 233 W. 83rd St., Apt. 3C, designated as agent of LLC upon “Best of the Best” Dealmakers NY, NY 10024. General Purposes. whom process against it may be Networking Event at Sotheby’s served. SSNY shall mail process Tuesday, June 12th Notice of Formation of LS OPPOR- to the LLC, 519 Eighth Ave., 19th The 2012 ACG New York Champion’s TUNITY, LLC. Arts. of Org. filed with Fl., NY, NY 10018. Purpose: Any Awards recognizes and honors New York’s Secy. of State of NY (SSNY) on lawful activity. leading firms driving middle market growth, 04/23/12. Office location: NY County. the top transactions, services and deal-maker SSNY designated as agent of LLC MOTOU REALTY, LLC Art. Of Org. of the year. The winners will be announced upon whom process against it may Filed Sec. Of State of NY at the Awards Gala at Sotheby’s Auction be served. SSNY shall mail process 03/31/2000. Off Loc.: New York Co. House in New York on June 12, 2012. to Corporation Service Co., 80 State SSNY designated as agent upon Firms conducting M&A transactions in St., Albany, NY 12207-2543, regd. whom process against it may be the greater New York market were eligible agent upon whom and at which served. SSNY to mail copy of to enter. Firms with offices in New York, process may be served. Purpose: process to THE LLC, 246 East 44th individuals active in New York and Any lawful activity. Street, New York, NY 10017. transactions conducted between April 1, Purpose: Any lawful act or activity. 2011 and March 30, 2012 with a transaction NOTICE OF FORMATION OF Law value over $5 million qualified. Join us as Offices of Charlene Caprio, PLLC. Notice of Formation of SOUTHEAST we honor Burt Alimansky, Chairman, The Arts of Org filed with Secy of State TOWERS PRESERVATION, L.P. Cert. Capital Roundtable with the Peter Hilton of NY (SSNY) on 2/13/12. Office of LP filed with Secy. of State of NY award. When: Tuesday, June 12, 2012, 6 - 9 pm. location: NY County. SSNY designated (SSNY) on 05/04/12. Office location: Notice of Qualification of KTR LP III Where: Sotheby’s, 1334 York Avenue at as agent upon whom process may be NY County. Princ. office of LP: 60 LLC. Authority filed with NY Dept. of 72nd Street, New York, NY 10021. served. PO address to which SSNY Columbus Circle, NY, NY 10023. State on 5/23/12. Office location: NY General Price : $350 Register at www.acgnyc.org shall mail copy of process against LLC: Latest date on which the LP may County. LLC formed in DE on US Corp Agents, Inc., 7014 13th Ave, dissolve is 12/31/2111. SSNY des- 5/15/12. NY Sec. of State designated Ste 202, Bklyn, NY 11228. Principal ignated as agent of LP upon whom agent of LLC upon whom process business address: 49 Park Ave, 4D, NY, process against it may be served. against it may be served and shall TELEPHONE EQUIPMENT NY 10016. Purpose: to practice law. SSNY shall mail process to c/o mail process to: c/o CT Corporation Corporation Service Co., 80 State System, 111 8th Ave., NY, NY 10011, WILL BUY Notice of Qual. of Two Hundred St., Albany, NY 12207. Name and regd. agent upon whom process may Lafayette Holdings LLC, Auth. filed addr. of each general partner are be served. DE addr. of LLC: 1209 ALL OFFICE TELEPHONE EQUIPMENT Sec’y of State (SSNY) 1/6/12. Office available from SSNY. Purpose: Any Orange St., Wilmington, DE 19801. Please call: 212-Richard loc.: NY County. LLC org. in DE 1/5/12. lawful activity. Cert. of Form. filed with DE Sec. of SSNY desig. as agent of LLC upon State, 401 Federal St., Dover, DE Please call: 212-742-4273 whom process against it may be served. NOTICE OF FORMATION OF Anthem 19901. Purpose: all lawful purposes. SSNY shall mail copy of proc. to Advisory Services LLC. Arts of Org Kushner Companies, 666 Fifth Ave., filed with the Secy of State of NY (SSNY) NOTICE OF FORMATION OF W S B NY, NY 10103. DE off. addr.: 160 on 09/09/2011. Office location: NY MANHATTAN LLC. Arts of Org filed PUBLIC & Greentree Dr., Ste. 101, Dover, DE County. SSNY designated as agent with Secy of State of NY (SSNY) on 19904. Cert. of Form. on file: SSDE, upon whom process may be served 5/8/12. Office location: NY County. LEGAL NOTICES Townsend Bldg., Dover, DE 19901. and shall mail a copy of any process SSNY designated as agent upon whom Purp.: any lawful activities. to the principal business address: 88 process may be served and shall mail Leonard Street, Suite 605, NY, NY copy of process against LLC to prin- Notice of Qualification of Yonkers Notice of Qual. of Two Hundred 10013. Purpose: any lawful act. cipal business address: THE LLC 15 2012 Associates LLC. Authority filed Lafayette Mezzanine LLC, Auth. filed DIVISION ST 6th FL NY, NY 10002. with NY Dept. of State on 5/14/12. Sec’y of State (SSNY) 1/6/12. Office LANDAU ABRAMS LLC, a domestic Office location: NY County. Princ. loc.: NY County. LLC org. in DE 1/5/12. LLC. Arts. of Org. filed with the SSNY Notice of Formation of Odin’s bus. addr.: 832 Germantown Pike, SSNY desig. as agent of LLC upon on 05/04/2012. Office location: NY Hammer, LLC. Arts. of Org. filed with Ste. 5, Plymouth Meeting, PA 19462. whom process against it may be County. SSNY has been designated Secy. of State of NY (SSNY) on LLC formed in DE on 8/16/11. NY served. SSNY shall mail copy of proc. as agent upon whom process 4/30/12. Office location: NY County. Sec. of State designated agent of to Kushner Companies, 666 Fifth against the LLC may be served. SSNY designated as agent of LLC LLC upon whom process against it Ave., NY, NY 10103. DE off. addr.: SSNY shall mail process to: 190 E. upon whom process against it may may be served and shall mail 160 Greentree Dr., Ste. 101, Dover, 72nd St Apt. 5C, NY, NY 10021. Reg be served. SSNY shall mail process process to: c/o CT Corporation DE 19904. Cert. of Form. on file: Agent: Michael Abrams, 190 E. 72nd to: 244 5th Ave., Ste. S-224, NY, NY System, 111 8th Ave., NY, NY 10011, SSDE, Townsend Bldg., Dover, DE St Apt. 5c, NY, NY 10021. Purpose: 10001, Attn: Simon Czaplinski. regd. agent upon whom process may 19901. Purp.: any lawful activities. Any Lawful Purpose. Purpose: any lawful activity. be served. DE addr. of LLC: 1209 Orange St., Wilmington, DE 19801. Notice of Appl. for Auth. 30 East 20 Notice of Qualification of Alden Global Notice of Qualification of CMS Multi- Cert. of Form. filed with DE Sec. of LLC, a foreign limited liability company Capital LLC. Authority filed with NY Purpose Management Fund I LLC. State, 401 Federal St., Dover, DE (LLC). Appl. for Auth. filed with SSNY Dept. of State on 3/12/12. Office Authority filed with NY Dept. of State 19901. Purpose: all lawful purposes. 2/1/12. LLC organized in DE 1/27/12. location: NY County. Princ. bus. on 5/10/12. Office location: NY NY office location: NY County. SSNY addr.: 885 Third Ave., 34th Fl., NY, County. Princ. bus. addr.: 120 Wall Notice of Qualification of Qship LLC. designated as agent for process. NY 10022. LLC formed in DE on St., 16th Fl., NY, NY 10005. LLC Authority filed with NY Dept. of State SSNY shall mail copy of process to: 12/28/11. NY Sec. of State designat- formed in DE on 2/16/12. NY Sec. of on 5/3/12. Office location: NY County. c/o Walter & Samuels, Inc., 419 Park ed agent of LLC upon whom process State designated agent of LLC upon LLC formed in DE on 4/30/12. NY Avenue South, New York, NY 10016, against it may be served and shall whom process against it may be Notice of Formation of 248 East 83 Sec. of State designated agent of attn: Mr. David I. Berley. Office mail process to: c/o CT Corporation served and shall mail process to: c/o Street LLC. Arts. of Org. filed with LLC upon whom process against it address of LLC in jurisdiction of System, 111 8th Ave., NY, NY 10011, CT Corporation System, 111 8th Secy. of State of NY (SSNY) on may be served and shall mail process organization: c/o National Registered regd. agent upon whom process may Ave., NY, NY 10011, regd. agent 2/9/12. Office location: NY County. to the principal business addr.: 424 Agents, Inc., 160 Greentree Dr., Ste. be served. DE addr. of LLC: The upon whom process may be served. SSNY designated as agent of LLC West End Ave. Apt. 7K, NY, NY 10027, 101, Dover, DE 19904. A copy of the Corporation Trust Co., 1209 Orange DE addr. of LLC: 1209 Orange St., upon whom process against it may Attn: Anthony Lage. DE addr. of LLC: Cert. of Form. on file with State of St., Wilmington, DE 19801. Cert. of Wilmington, DE 19801. Cert. of be served. SSNY shall mail process 1209 Orange St., Wilmington, DE Delaware, Div.of Corp., 401 Federal Form. filed with DE Sec. of State, Form. filed with DE Sec. of State, to: c/o The Torkian Group, 701 19801. Cert. of Form. filed with DE Sec. Street, Ste. 3, Dover, DE 19901. 401 Federal St., Dover, DE 19901. 401 Federal St., Dover, DE 19901. Seventh Ave., Ste. 4W, NY, NY of State, 401 Federal St., Dover, DE Purpose: Any lawful act or activity. Purpose: all lawful purposes. Purpose: all lawful purposes. 10036. Purpose: any lawful activity. 19901. Purpose: all lawful purposes.

June 11, 2012 | Crain’s New York Business | 19 nb24p19-21cl.qxp 6/8/2012 2:57 PM Page 20

PUBLIC & LEGAL NOTICES

Notice of Qualification of Sixth Notice of Qualification of RESIDUAL Notice of Qualification of HOFFMAN Notice of Qualification of Baltoro Notice of Appl. for Auth. Opportunity Avenue Restaurant Management ACQUISITIONS GP, LLC. Authority LLOYD LLC. Authority filed with Secy. Capital Management LLC. Authority Shoes LLC, a foreign limited liability LLC. Authority filed with NY Dept. of filed with Secy. of State of NY (SSNY) of State of NY (SSNY) on 4/17/12. filed with NY Dept. of State on 4/20/12. company (LLC). Appl. for Auth. filed State on 3/19/12. Office location: NY on 05/04/12. Office location: NY Office location: NY County. LLC Office location: NY County. Princ. with SSNY 3/23/12. LLC organized County. Princ. bus. addr.: c/o County. LLC formed in Delaware (DE) formed in Delaware (DE) on 4/13/12. bus. addr.: 888 7th Ave., 43rd Fl., NY, in FL 6/5/03. NY office location: NY BetaWest, Ltd., 1050 17th St., Ste. on 03/26/12. Princ. office of LLC: 575 SSNY designated as agent of LLC NY 10019. LLC formed in DE on County. SSNY designated as agent 350, Denver, CO 80265. LLC formed Lexington Ave., Fl. 4, NY, NY 10022. upon whom process against it may be 2/15/12. NY Sec. of State designated for process. SSNY shall mail copy of in DE on 3/9/12. NY Sec. of State SSNY designated as agent of LLC served. SSNY shall mail process to: agent of LLC upon whom process process to c/o NRAI, Inc., 875 Ave. designated agent of LLC upon upon whom process against it may be 145 Ave. of the Americas, 7th Fl., NY, against it may be served and shall of the Americas, Ste. 501, NY, NY whom process against it may be served. SSNY shall mail process to N.Y. 10013. Address to be maintained mail process to: c/o CT Corporation 10001. The registered agent of the served and shall mail process to: c/o the LLC at the addr. of its princ. office. in DE: c/o GKL Resident Agents, Inc., System, 111 8th Ave., NY, NY 10011, LLC upon whom process against it CT Corporation, 111 8th Ave., NY, DE addr. of LLC: 2711 Centerville Rd., 3500 South Dupont Highway, Dover, regd. agent upon whom process may may be served is: NRAI.,875 Ave. of NY 10011. DE addr. of LLC: 1209 Ste. 400, Wilmington, DE 19808. Arts. DE 19901. Arts of Org. filed with the be served. DE addr. of LLC: 1209 the Americas, Ste. 501, NY, NY Orange St., Wilmington, DE 19801. of Org. filed with Secy. of State, DE, DE Secretary of State, Division of Orange St., Wilmington, DE 19801. 10001. Office address of LLC in Cert. of Form. filed with DE Sec. of 401 Federal St., Ste. 4, Dover, DE Corporations, John G. Townsend Bldg, Cert. of Form. filed with DE Sec. of FL,8501 NW 17th St., #102, Miami, State, Townsend Bldg., Dover, DE 19901. Purpose: Any lawful activity. 401 Federal Street - Suite 4, Dover, DE State, 401 Federal St., Dover, DE FL 33126. A copy of the Cert. of 19901. Purpose: all lawful purposes. 19901. Purpose: any lawful activities. 19901. Purpose: all lawful purposes. Conv. & Art. of Org. on file with PRESTITO LLC, a domestic LLC, Arts. Florida Dept of State, Div of Corp., Notice of Qual. of Two Hundred of Org. filed with the SSNY on 3/15/12. FMUS, LLC, a domestic LLC. Arts. of Notice of Formation of LLC CineScope, Clifton Bldg, 2661 Executive Ctr Cr. Lafayette Kushner Manager LLC, Auth. Office location: New York County. Org. filed with the SSNY on 04/18/2012. LLC. Articles of Organization filed Tallahassee, FL 32301. Purpose: To filed Sec’y of State (SSNY) 1/10/12. SSNY is designated as agent upon Office location: NY County. SSNY with the Secretary of State of NY on engage in any lawful act or activity. Office loc.: NY County. LLC org. in whom process against the LLC may has been designated as agent upon 3/13/12. Location: New York County. DE 1/9/12. SSNY desig. as agent of be served. SSNY shall mail process whom process against the LLC may SSNY has been designated as an Notice of Qual. of Irongate Management, LLC upon whom process against it to: The LLC, c/o Antonino D’Aiuto, be served. SSNY shall mail process agent upon whom process against it LLC with a fictitious name of Irongate may be served. SSNY shall mail Esq., 116 W. 23rd St., Ste. 500, NY, to: Roberto Faraone Mennella, 45 W may be served. The address to Property Management, LLC, Auth. copy of proc. to Kushner Companies, NY 10011. General Purposes. 54 St, Apt. 10D, NY, NY 10019. which the SSNY shall mail a copy of filed Sec’y of State (SSNY) 1/6/12. 666 Fifth Ave., NY, NY 10103. DE off. Purpose: Any Lawful Purpose. any process against the LLC served Office loc.: NY County. LLC org. in addr.: 160 Greentree Dr., Ste. 101, NOTICE OF FORMATION OF IWC upon him/her is 609 Greenwich St, DE 11/14/11. SSNY desig. as agent Dover, DE 19904. Cert. of Form. on Capital Management LLC. Arts of Org MODABOUND LLC, a domestic LLC, 4th floor, New York, NY 10014, same of LLC upon whom process against file: SSDE, Townsend Bldg., Dover, DE filed with Secy of State of NY (SSNY) Arts. of Org. filed with the SSNY on as the principal business address. it may be served. SSNY shall mail 19901. Purp.: any lawful activities. on 1/4/10. Office location: NY County. 2/21/12. Office location: New York Purpose of LLC: video camera copy of proc. to NRAI, 875 Ave of SSNY designated as agent upon whom County. SSNY is designated as equipment financing. the Americas, NY, NY 10001. DE off. SAGA IMAGING LLC, a domestic LLC, process may be served and shall agent upon whom process against addr.: 160 Greentree Dr., Ste. 101, Arts. of Org. filed with the SSNY on mail copy of process against LLC to the LLC may be served. SSNY shall Notice of Qualification of Commodore Dover, DE 19904. Cert. of Form. on 1/5/12. Office location: New York principal business address: Matthew mail process to: The LLC, 117 E. Thompson Music LLC. App. for Auth. file: SSDE, Townsend Bldg., Dover, County. SSNY is designated as Wright, 260 Madison Ave, 8th Fl, NY, 57th St., #38C, NY, NY 10022. filed with Secy. of State of NY (SSNY) DE 19901. Purp.: any lawful activities. agent upon whom process against the NY 10016. Purpose: any lawful act. General Purposes. on 4/23/2012. Off. loc.: NY County. LLC LLC may be served. SSNY shall mail formed in Delaware (DE) on 1/7/1981. ENERGY ACCESS LLC filed Arts. of process to: Anna M. Boutealis CPA, 308 EAST 50TH STREET LLC, a 410 LAFAYETTE STREET PARKING SSNY designated as agent of LLC Org. with the Sect’y of State of NY 600 Old Country Rd., Ste. 230, Garden domestic LLC, Arts. of Org. filed LLC, a domestic LLC, Arts. of Org. upon whom process against it may be (SSNY) on 3/20/2012. Office location, City, NY 11530. General Purposes. with the SSNY on 4/23/12. Office filed with the SSNY on 4/12/12. served. SSNY shall mail process to: County of New York. SSNY has location: New York County. SSNY is Office location: New York County. WPP, 100 Park Ave., 4th Fl., NY, NY been designated as agent of the LLC designated as agent upon whom 10017. DE address of LLC: United Notice of Formation of 34TH STREET SSNY is designated as agent upon upon whom process against it may process against the LLC may be Corporate Services, 874 Walker Road, GP LLC. Arts. of Org. filed with Secy. whom process against the LLC may be served. SSNY shall mail process served. SSNY shall mail process to: Ste. C, Dover, DE 19904. Arts. of Org. of State of NY (SSNY) on 05/11/12. be served. SSNY shall mail process to: The LLC, 80 Wall Street, NY NY Coopersmith & Coopersmith, Attn: filed with DE Secy. of State, 401 Office location: NY County. Princ. to: Gary Spindler, 250 W. 26th St., 10005. Purpose: any lawful act. Richard D Coopersmith, 233 Federal St., Ste. 4, Dover, DE 19901. office of LLC: c/o ID Real Estate NY, NY 10001. General Purposes. Broadway, Ste. 1800, NY, NY 10279. Purpose: any lawful activity. Partners, LLC, 450 Seventh Ave., KATARZYNA A. HABERKO LCSW, General Purposes. Notice of Formation of Lawrence Debt PLLC, a Prof. LLC. Arts. of Org. filed NY, NY 10123. SSNY designated as NOTICE OF FORMATION OF JEBS agent of LLC upon whom process LLC, Art. of Org. filed Sec’y of State with the SSNY on 01/25/2012. Office Notice of Formation of Celtic on Tour (SSNY) 1/31/12. Office location: NY GROUP, LLC. Arts of Org filed with location: New York County. SSNY against it may be served. SSNY Secy of State of NY (SSNY) on shall mail process to the LLC at the LLC. Arts of Org filed with Secy of County. SSNY designated as agent has been designated as agent upon State of NY (SSNY) on 12/30/11. of LLC upon whom process against 5/21/12. Office location: NY County. whom process against it may be addr. of its princ. office. Purpose: SSNY designated as agent upon Any lawful activity. Office location: NY County. SSNY it may be served. SSNY shall mail served. SSNY shall mail process to: designated as agent upon whom copy of process to NRAI, 875 Ave whom process may be served and Katarzyna A. Haberko, 1701 Earl St., process may be served and shall of the Americas, NY, NY 10001. shall mail copy of any process against Union, NJ 07083. Purpose: To Notice of Formation of 28-30 Avenue A, LLC to principal business address: LLC. Arts. of Org. filed with NY Dept. mail copy of process against LLC to Purpose: any lawful activities. Practice The Profession Of Lic. principal business address: 2109 370 W 52ND STREET, NEW YORK, Clinical Social Worker. of State on 05/14/12. Office location: NY 10019. Purpose: any lawful act. NY County. Principal business Broadway Ste 13-126 NY NY 10023. Notice of Formation of address: c/o Singh Equities, LLC, 22 Purpose: any lawful act. KINGKONGBNB LLC, Art. of Org. Notice of Formation of LIGHTSEED W. 27th St., NY, NY 10001. Secy. of filed Secy. of State of NY (SSNY) on NOTICE OF FORMATION OF Beth CAPITAL, LLC. Arts. of Org. filed with State designated as agent of LLC RUTENBERG REALTY, LLC, a 5/14/2012. Office location: New York Altschuler Interiors, LLC. Arts of Org Secy. of State of NY (SSNY) on upon whom process against it may domestic LLC. Arts. of Org. filed with County . SSNY Designated as agent filed with Secy of State of NY (SSNY) 04/26/12. Office location: NY County. be served. Secy. of State shall mail the SSNY on 04/19/2012. Office of LLC upon whom process against on 4/24/12. Office location: NY SSNY designated as agent of LLC process to c/o Singh Equities, LLC, location: NY County. SSNY has it may be served. SSNY shall mail County. SSNY designated as agent upon whom process against it may be 22 W. 27th St., NY, NY 10001. been designated as agent upon copy of process to: The LLC, 144 upon whom process may be served served. SSNY shall mail process to Purpose: Any lawful activity. whom process against the LLC may Bowery St, 3rd Fl, New York, NY and shall mail copy of process Corporation Service Co., 80 State St., be served. SSNY shall mail process 10013. Purpose: any lawful activity. against LLC to principal business Albany, NY 12207, regd. agent upon address: 150 E 69th St NY, NY Notice of Qual. of Two Hundred to: Choa Fu Seng, 123 Washington whom and at which process may be 10021. Purpose: any lawful act. Lafayette LLC, Auth. filed Sec’y of St. Apt 50H, NY, NY 10006. NOTICE OF FORMATION OF Epoc served. Purpose: Any lawful activity. State (SSNY) 1/6/12. Office loc.: NY Purpose: Any Lawful Purpose. Partners LLC. Arts of Org filed with County. LLC org. in DE 1/5/12. SSNY Secy of State of NY (SSNY) on Notice of Formation of DAUNTLESS NOTICE OF FORMATION OF Pure desig. as agent of LLC upon whom NOTICE OF FORMATION OF Best 4/13/12. Office location: NY County. PRODUCTIONS LLC. Arts. of Org. Development LLC. Arts of Org filed process against it may be served. Fest LLC. Arts of Org filed with Secy SSNY designated agent upon whom filed with Secy. of State of NY with Secy of State of NY (SSNY) on SSNY shall mail copy of proc. to of State of NY (SSNY) on 2/15/12. process may be served. PO address (SSNY) on 04/23/12. Office location: 2/16/12. Office location: NY County. Kushner Companies, 666 Fifth Ave., Office location: NY County. SSNY to which SSNY shall mail copy of NY County. Princ. office of LLC: 50 SSNY designated as agent upon NY, NY 10103. DE off. addr.: 160 designated as agent upon whom process against LLC: Imelda Vasquez, Murray St., #509, NY, NY 10007. whom process may be served. PO Greentree Dr., Ste. 101, Dover, DE process may be served and shall 101 N Brand Blvd, 11th Fl, Glendale, SSNY designated as agent of LLC address to which SSNY shall mail copy 19904. Cert. of Form. on file: SSDE, mail copy of process against LLC to CA 91203. Principal business address: upon whom process against it may of process against LLC: US Corp Townsend Bldg., Dover, DE 19901. principal business address: 111 E. 2373 Broadway, Ste 1628, NY, NY, be served. SSNY shall mail process Agents, Inc., 7014 13th Ave, Ste 202, Purp.: any lawful activities. 2nd St. Apt 3A NY NY 10009. 10024. Purpose: any lawful act. to the LLC at the addr. of its princ. Bklyn, NY 11228. Principal business Purpose: any lawful act. office. Purpose: Any lawful activity. address: 70 Pine St, 63rd Fl, NY, NY, Notice of Qualification of DIRECTLI LLC. Notice of Qualification of ARTEAST, 10270. Purpose: any lawful act. Authority filed with Secy. of State of Notice of Qualification of RESIDUAL LLC. Authority filed with Secy. of Notice of Qualification of PLC SEVEN NY (SSNY) on 04/24/12. Office ACQUISITIONS MANAGEMENT, LLC. State of NY (SSNY) on 04/23/12. SPRINGS, LLC. Authority filed with Notice of Qualification of Ria in a Box location: NY County. LLC formed in Authority filed with Secy. of State of NY Office location: NY County. LLC Secy. of State of NY (SSNY) on LLC. Authority filed with NY Dept. of Delaware (DE) on 03/08/12. Princ. (SSNY) on 05/04/12. Office location: formed in Delaware (DE) on 08/16/05. 05/23/12. Office location: NY County. State on 2/10/12. Office location: NY office of LLC: 1400 Broadway, 15th NY County. LLC formed in Delaware Princ. office of LLC: 47 Ave. du Bois LLC formed in Maryland (MD) on County. Princ. bus. addr.: 108 W. 39th Fl., NY, NY 10018. NYS fictitious (DE) on 03/26/12. Princ. office of de Boulogne, 92200 Paris, France. 05/23/12. Princ. office of LLC: 7 St., Ste. 604, NY, NY 10018. LLC name: DIRECT FOR HER LLC. SSNY LLC: 575 Lexington Ave., Fl. 4, NY, NYS fictitious name: ZVWEB, LLC. Spring St., NY, NY 10012. SSNY formed in DE on 11/21/11. NY Sec. of designated as agent of LLC upon NY 10022. SSNY designated as SSNY designated as agent of LLC designated as agent of LLC upon State designated agent of LLC upon whom process against it may be agent of LLC upon whom process upon whom process against it may be whom process against it may be whom process against it may be served. SSNY shall mail process to c/o against it may be served. SSNY shall served. SSNY shall mail process to served. SSNY shall mail process to served and shall mail process to: c/o Corporation Service Co., 80 State St., mail process to the LLC at the addr. c/o Corporation Service Co., 80 State the LLC at the princ. office of the CT Corporation System, 111 8th Ave., Albany, NY 12207-2543. DE addr. of of its princ. office. DE addr. of LLC: St., Albany, NY 12207-2543. DE addr. LLC. MD addr. of LLC: 526 Penny NY, NY 10011. DE addr. of LLC: c/o LLC: 2711 Centerville Rd., Ste. 400, 2711 Centerville Rd., Ste. 400, of LLC: 2711 Centerville Rd., Ste. 400, Ln., Cockeysville, MD 21030. Cert. of The Corporation Trust Co., 1209 Wilmington, DE 19808. Arts. of Org. Wilmington, DE 19808. Arts. of Org. Wilmington, DE 19808. Arts. of Org. Form. filed with Paul B. Anderson, Orange St., Wilmington, DE 19801. filed with DE Secy. of State, 401 filed with Secy. of State, DE, 401 filed with Secy. of State of the State of Dept. of Assessments and Taxation, Cert. of Form. filed with DE Sec. of Federal St., Ste. 4, Dover, DE 19901. Federal St., Ste. 4, Dover, DE 19901. DE, 401 Federal St., Ste. 4, Dover, DE 301 W. Preston St., Baltimore, MD State, 401 Federal St., Dover, DE Purpose: Any lawful activity. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity. 21201. Purpose: Any lawful activity. 19901. Purpose: all lawful purposes.

20 | Crain’s New York Business | June 11, 2012 nb24p19-21cl.qxp 6/8/2012 4:30 PM Page 21

PUBLIC & LEGAL NOTICES

Notice of Qual. of Laight Street NOTICE OF FORMATION of Lenox Notice of Qualification of Hedgeforum Notice of Qualification of Back Brook NOTICE OF FORMATION OF Project Owner LLC, Auth. filed Sec’y Hill Massage and Physical Therapy, Portfolios, LLC. App. for Auth. filed Masonry LLC. Authority filed with Shiftscope Entertainment LLC. Arts of State (SSNY) 1/5/12. Office loc.: NY PLLC. Article of Organization filed with with Secy. of State of NY (SSNY) on Secy. of State of NY (SSNY) on of Org filed with Secy of State of NY County. LLC org. in DE 1/3/12. SSNY the Secretary of State of NY (SSNY) on 3/21/12. Off. loc.: NY Cty. LLC formed 4/26/12. Office location: NY County. (SSNY) on 1/25/12. Office location: desig. as agent of LLC upon whom 03/09/12. Office location: NY County. in Delaware (DE) on 3/9/12. SSNY LLC formed in New Jersey (NJ) on NY County. SSNY designated as process against it may be served. SSNY has been designated as agent designated as agent of LLC upon whom 2/2/11. SSNY designated as agent of agent upon whom process may be SSNY shall mail copy of proc. to upon whom process against it may process against it may be served. SSNY LLC upon whom process against it may served and shall mail copy of Taconic Inv. Partners, 111 Eighth Ave., be served. The Post Office address shall mail process to: c/o Citi Private be served. SSNY shall mail process process against LLC to principal NY, NY 10011, the Reg. Agt. upon to which the SSNY shall mail a copy Advisory, LLC, 666 Fifth Ave., Fl. 12B, to: The LLC, 239 Homestead Rd., business address: 10 Liberty #6F, NY, whom proc. may be served. DE off. of any process against the PLLC NY, NY 10103. DE address of LLC: c/o Unit 2, Hillsborough, NJ 08844, also NY 10005. Purpose: any lawful act. addr.: 160 Greentree Dr., Ste. 101, served upon him is 261 E 78nd St. National Corporate Research, Ltd., the principal office address. Arts of Dover, DE 19904. Cert. of Form. on N.Y., N.Y., 10021. Date of Dissolution: 615 S. DuPont Hwy., Dover, DE 19901. Org. filed with the NJ State Treasurer, Notice of Formation of 345 PRODUCTIONS, file: SSDE, Townsend Bldg., Dover, DE by proclamation. Purpose of PLLC: Arts. of Org. filed with DE Secy. of Dept. of Treasury, 33 West State St., LLC. Arts. of Org. filed with Secy. of 19901. Purp.: any lawful activities. provide medical services. Street State, Townsend Bldg., Dover, DE 5th Fl., Trenton, NJ 08646. Purpose: State of NY (SSNY) on 04/17/12. address of Principal Business location 19901. Purpose: any lawful activity. any lawful activities. Office location: NY County. SSNY NOTICE OF FORMATION OF LVK LLC. is: 261 E 78nd St. N.Y., N.Y., 10021. designated as agent of LLC upon Arts of Org filed with Secy of State of Notice of Formation of ROSE CAPITAL ROBERT ROSENBERG LLC, a whom process against it may be NY (SSNY) on 3/20/12. Office location: NOTICE OF FORMATION OF Glacier 104TH STREET LLC. Arts. of Org. domestic LLC, Arts. of Org. filed with served. SSNY shall mail process to NY County. SSNY designated as Capital LLC. Arts of Org filed with filed with Secy. of State of NY (SSNY) the SSNY on 4/16/12. Office location: Kalnick, Klee & Green, LLP, 767 Third agent upon whom process may be Secy of State of NY (SSNY) on on 5/9/12. Office location: NY County. New York County. SSNY is designated Ave., NY, NY 10017-2023. Purpose: served and shall mail copy of process 3/16/12. Office location: NY County. SSNY designated as agent of LLC as agent upon whom process against Any lawful activity. against LLC to principal business SSNY designated as agent upon upon whom process against it may the LLC may be served. SSNY shall address: 221 E. 33rd St, #6H; NY, NY whom process may be served and be served. SSNY shall mail process mail process to: DDK & Company Notice of Formation of 225 LAFAYETTE 10016. Purpose: any lawful act. shall mail copy of process against to: 551 Fifth Ave., 23rd Fl., NY, NY LLP, One Penn Plaza, 54th Fl., NY, NY STREET, LLC. Arts. of Org. filed with LLC to principal business address: 10176. Purpose: any lawful activity. 10119. General Purposes. Secy. of State of NY (SSNY) on 229 W 60th St, Apt 3R, NY, NY NOTICE OF FORMATION OF rose 5/17/12. Office location: NY County. 10023. Purpose: any lawful act. crownview LLC. Arts of Org filed Notice of Formation of LFCI Capital NOTICE OF FORMATION of VIOLATOR/ SSNY designated as agent of LLC upon whom process against it may with Secy of State of NY (SSNY) on NOTICE OF FORMATION OF DANGER NYC LLC, Art. of Org. filed Sec’y of STIMULATED LLC. Arts of Org filed be served. SSNY shall mail process 2/23/12. Office location: NY County. TV, LLC. Articles of Organization State (SSNY) 12/20/11. Office location: with SSNY on 5/1/12. Office location: to: c/o Ursula Bevan, 225 Lafayette SSNY designated as agent upon were filed with the New York NY County. SSNY designated as agent NY County. SSNY designated as an St., #12A, NY, NY 10112. Purpose: whom process may be served and Secretary of State (SSNY) on April of LLC upon whom process against it agent upon whom process may be any lawful purpose. shall mail copy of process against 24, 2012. Office Location: NY County. may be served. SSNY shall mail copy served. SSNY shall mail process to LLC to principal business address: SSNY has been designated as an of process to 207 W. 75th St., NY, NY the LLC c/o Primary Wave, 116 E 205 E. 78th St., APT 9B NY, NY agent upon whom process may be 10023. Purpose: any lawful activities. 16th St, 9th Fl, NY NY 10003. MIXED NUTZ PRODUCTIONS, LLC, 10075. Purpose: any lawful act. served and shall mail a copy of any Purpose: any lawful act. a domestic LLC, Arts. of Org. filed process to the principal business Cindy’s N.Y.C. Apartment Rentals with the SSNY on 1/26/12. Office Notice of Formation of Goldstein Hall address: 10 East 92nd Street, New L.L.C. Arts of Org filed Sec. of State Notice of Formation of A Canaan LLC, location: New York County. SSNY is PLLC filed under the original name York, New York 10128. Purpose: of NY on 5/2/12. Off loc: NY Co. Art. of Org. filed Secy. of State of NY designated as agent upon whom David A. Goldstein & Associates, PLLC, Any lawful activity. SSNY designated agent upon whom (SSNY) on 3/9/2012. Office location: process against the LLC may be Art. of Org. filed Sec’y of State (SSNY) process against it may be served. New York County . SSNY Designated served. SSNY shall mail process to: 1/4/06. Office location: NY County. NOTICE OF FORMATION OF BIZ SSNY to mail copy of process to the as agent of LLC upon whom process The LLC, 15 Maiden Ln, Ste 1108, SSNY designated as agent of PLLC ENTERPRISES LLC. Arts of Org filed address: 531 W 145th St Apt. 21 NY against it may be served. SSNY shall NY, NY 10038. General Purposes. upon whom process against it may be with Secy of State of NY (SSNY) on NY 10031. Purpose: any lawful act. mail copy of process to: The LLC, served. SSNY shall mail copy of process 4/24/12. Office location: NY County. 154 W 29th St, New York, NY 10001. Notice of Formation of Quik Park 485 to Tesser & Ryan & Rochman, 509 SSNY designated as agent upon M&K NY LLC Articles of Org. filed Purpose: any lawful activity. Garage LLC. Arts. of Org. filed with Madison Ave., NY, NY 10022. Purpose: whom process may be served and NY Sec. of State (SSNY) 2/23/2012. Secy. of State of NY (SSNY) on to practice the profession of Law. shall mail copy of process against Office in NY Co. SSNY desig. agent NOTICE OF FORMATION of RAIN 5/8/12. Office location: NY County. LLC to principal business address: of LLC upon whom process may be Commercial Real Estate Advisors SSNY designated as agent of LLC Notice of Qualification of Sugar and 250 W 16th St, #4D, NY, NY 10011. served. SSNY shall mail copy of LLC. Article of Organization filed with upon whom process against it may Plumm (Upper West), LLC. Authority Purpose: any lawful act. process to 31 Jane St., NY, NY 10014, the Secretary of State of NY (SSNY) be served. SSNY shall mail process filed with NY Dept. of State on 5/8/12. which is also the principal business on 06/01/2012. Office location: NY to: The LLC, 247 W. 37th St., NY, NY Office location: NY County. LLC Notice OF FORMATION OF The location. Purpose: Any lawful purpose. County. SSNY has been designated 10018. Purpose: any lawful purpose. formed in DE on 12/2/10. NY Sec. of Physical Therapy Practice PLLC. as agent upon whom process State designated agent of LLC upon Arts of Org filed with Secretary of Notice of Formation of FEDCAP against it may be served. The Post NOTICE OF FORMATION OF MISJAY whom process against it may be State of NY (SSNY) on 3/9/12. SECURITY SERVICES, LLC. Arts. of Office address to which the SSNY HOLDING LLC. Arts of Org filed with served and shall mail process to the Office location: NY County. SSNY Org. filed with Secy. of State of NY shall mail a copy of any process Secy of State of NY (SSNY) on principal business addr.: 146 designated as agent upon whom (SSNY) on 04/20/12. Office location: against the LLC served upon him is 4/16/12. Office location: NY County. Redneck Ave., Moonachie, NJ process may be served and shall NY County. SSNY designated as C/O the LLC 60 West 23rd Street, SSNY designated as agent upon 07074. DE addr. of LLC: 615 S. mail copy of process against PLLC agent of LLC upon whom process Ste. 842, NY, NY 10010. Purpose of whom process may be served and DuPont Hwy., Dover, DE 19901. Cert. to principal business address: The against it may be served. SSNY shall LLC: to engage in any lawful act or shall mail copy of process against of Form. filed with DE Sec. of State, Physical Therapy Practice PLLC, 361 mail process to the LLC, 211 West, activity. Street address of Principal LLC to principal business address: Townsend Bldg., Dover, DE 19901. W 30 St, Apt 1B, NY, NY 10001. 14th St., NY, NY 10011. Purpose: Business location is: 60 West 23rd 42 Morton St, #18, NY NY 10014. Purpose: all lawful purposes. Purpose: any lawful act. Any lawful activity. Street, Ste. 842, NY, NY 10010. Purpose: any lawful act.

Issue Dates for Business Connections Crain’s Fast Fifty (6/25), City Facts (8/27), & Book of Lists (12/24)

June 11, 2012 | Crain’s New York Business | 21 20120611-NEWS--0022-NAT-CCI-CN_-- 6/8/2012 3:19 PM Page 1

FOR THE RECORD

Water St., ground floor. Payment must $90 per square foot. shares of common stock at $37.36 on be made via certified check or money May 29, in a transaction worth ABOUT THIS SECTION order only, payable to the New York City ● Light Ming Trading Inc. signed a five- $934,000. On the same day, he sold Department of Transportation. To make year lease for 8,000 square feet at 503 FOR THE RECORD is a weekly listing of information from the public record that 25,000 shares of common stock at prices inquiries, contact Elaine Botti at Johnson Ave., in Bushwick, Brooklyn. ranging from $171.52 to $173.21, in a can help businesspeople in the New York area find opportunities, potential (212) 788-3507 or elaine.botti@ The tenant was represented by Kalmon transaction worth $4,311,462. He now new clients and updates on competitors. nychhc.org. Dolgin Affiliates, while the owner, AR directly holds 177,692 shares. To ask questions or get more information on this section, contact Suzanne Loft, was represented by Kalmon Panara at [email protected]. ● Health and Hospitals Corp. Dolgin Affiliates’ Linda Wong. The ● Sirius XM Radio (SIRI) Requests proposals by 4 p.m. on June 29 asking rent was $14 per square foot. Mel Karmazin, chief executive and for recruitment services. To make director, exercised options on inquiries or to obtain copies of the 13,700,000 shares of common stock at request for proposals, contact Kathleen STOCK TRANSACTIONS $0.43 between May 15 and May 16, in a BANKRUPTCIES CONSTRUCTION SERVICES Nolan at (212) 908-8730 or email transaction worth $5,891,000. During ● Department of Design and Construction [email protected]. Following are recent insider transactions at the same period, he sold 13,700,000 The following listings are selected from the Seeks competitive sealed bids by 11 a.m. New York’s largest publicly held companies shares of common stock at prices most recent available filings by companies on June 21 for reconstruction of Select ● Housing Authority filed with the Securities and Exchange ranging from $1.98 to $1.99, in a seeking bankruptcy protection in the Bus Service features at Nostrand Seeks competitive sealed bids by 10 a.m. Commission by executives and major transaction worth $27,158,304. He now Southern and Eastern Districts of New Avenue, phase two, in Brooklyn. Bid on June 22 for oil-spill cleanup and shareholders. Listings are in order of directly holds 8,823,950 shares. York. Information was obtained from U.S. documents can be downloaded at hazardous waste removal services. The transaction value.The information was Bankruptcy Court records available on www.nyc.gov/buildnyc, or printed copies bid documents may be obtained from obtained from Thomson Reuters. ● Nasdaq OMX Group Inc. (NDAQ) Public Access to Court Electronic Records. are available at 30-30 Thomson Ave. in the NYCHA website at www.nyc.gov/ Investor AB purchased 440,000 shares Listings are in alphabetical order. Long Island City, Queens, for a $35 nychabusiness. Paper copies of the bid ● BlackRock Inc. (BLK) of common stock at prices ranging from deposit. Deposits must be made via can also be obtained for $25 at the Barclays Bank sold 35,210,031 shares of $21.71 to $23.53 between May 14 and ● 10-16 Manhattan Avenue company check, certified check or money NYCHA Finance Dept., 90 Church St., common stock at prices ranging from May 23, in a transaction worth 825 Third Ave., Manhattan order. For more information, contact Manhattan. The fee is payable by check $156.80 to $166.30 between May 22 $10,107,258. It now indirectly holds Filed for Chapter 11 bankruptcy Lorraine Holley at (718) 391-2601. or money order only, payable to and May 23, in a transaction worth 19,394,100 shares. protection on May 24. The filing cites NYCHA. To make inquiries, contact $158,412,096. estimated liabilities of $100,000,001 to ● Department of Design and Construction Sabrina Steverson at (212) 306-6771 or ● CBS Corp. (CBS) $500 million and estimated assets of Seeks competitive sealed bids by 2 p.m. [email protected]. James Grosfeld, independent director, Leslie Moonves, president, chief $1,000,001 to $10 million. Among the on June 26 for the renovation of the roof purchased 50,000 shares of common executive and director, exercised options creditors with the largest unsecured canopy and theater at the Brooklyn ● Office of the Chief Medical Examiner stock at $160 on May 23, in a on 216,763 shares of common stock at claims are DG UWS, owed Children’s Museum. There is an Seeks competitive sealed bids by noon transaction worth $8 million. He now $5.20 on May 15, in a transaction worth $110,804,388.40; AON Risk Services optional pre-bid walk-through on June on July 5 for provision of steam-station directly holds 204,208 shares. $1,127,168. On the same day, he sold Inc. of NY, owed $7,776.99; and G. 15 at 10 a.m. at the museum, 145 preventive maintenance service. To 216,763 shares of common stock at Bauer Inc., owed $1,409.94. Brooklyn Ave. Bid documents are $35, make inquiries or to obtain bid J. Richard Kushel, senior managing $31.89, in a transaction worth payable by check or money order only. documents, contact Miriam Acevedo at director and head of international $6,913,548. He now directly holds ● 205 East 45th The bid documents are available at (212) 323-1739 or miacevedo@ business, exercised options on 25,000 2,064,010 shares. Ⅲ 205 E. 45th St., Manhattan www.nyc.gov/buildnyc. To make ocme.nyc.gov. Filed for Chapter 11 bankruptcy inquiries, contact Ben Perrone at protection on May 21. The filing cites (718) 391-2200. estimated liabilities of $100,000,001 to REAL ESTATE DEALS DEALS ROUNDUP $500 million and estimated assets of ● Department of Parks and Recreation $50,000,001 to $100 million. Seeks competitive sealed bids by 10:30 Companies that would like to have details a.m. on July 5 for the installation of park of their recent transactions appear in TRANSACTION SIZE ● Apollo Imaging Management security lighting in Harry Maze these listings should email descriptions SELLER/TARGET (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE 40-36 74th St., Elmhurst, Queens Memorial Park on Avenue D, between following this format to ELaermer@ General Atlantic, Soros $5,600.0 Marubeni Corp. SB M&A Filed for Chapter 11 bankruptcy East 56th Street and East 57th Street, in crainsnewyork.com, with “Real estate Fund Management protection on May 22. The filing cites Brooklyn. Bid documents are available transaction” in the subject line, or enter (Manhattan), Orascom estimated liabilities of $50,001 to for $25 in the blueprint room, Olmsted them online at crainsnewyork.com/ Construction Industries Co., $100,000 and estimated assets of $0 to Center, Room 64, Flushing Meadows Ospraie Advisors (Manhattan), submitadeal. Deals are listed in order of The Gavilon Group/Gavilon $50,000. Corona Park, Queens, from 8 a.m. to square footage. 3 p.m.The fee is payable by company Not disclosed/Interline $1,090.1 Goldman Sachs Group FB M&A Brands Inc. merchant banking division (Manhattan), ● Brooklyn Pastry Shop check or money order to the City of New COMMERCIAL ● P2 Capital Partners (Manhattan), 384 Fifth Ave., Brooklyn York, Parks and Recreation.To make Lankler Siffert & Wohl signed a lease management of Interline Brands Inc. Filed for Chapter 7 bankruptcy inquiries, contact Juan Alban at (718) to expand its space at 500 Fifth Ave. to Apollo Global Management $694.7 Verizon Enterprise Solutions Group SB M&A protection on May 29. The filing cites 760-6771 or [email protected]. 27,900 square feet. The law firm will (Manhattan), Weintraub estimated liabilities of $100,001 to occupy space on the 33rd, 34th and 35th Capital Management, $500,000 and estimated assets of $0 to ● School Construction Authority floors. The tenant was represented by Wellington Management Co., $50,000. Seeks competitive sealed bids by 11 a.m. Newmark Grubb Knight Frank’s PAR Capital Management, on June 19 for the upgrade of the fire- William Cohen and Ryan Kass. The Public Employee Retirement ● Dewey & LeBoeuf alarm system and elevators at P.S. 36 in owner, 500 Fifth Ave. Inc., was System of Idaho, Ascend Capital, 1301 Sixth Ave., Manhattan Manhattan. Bid documents are $100, represented by Cushman & Wakefield Asphalt Green, SEI Investment Management Corp., City of Filed for Chapter 11 bankruptcy payable by certified check or money Inc.’s Harry Blair and Sean Kearns. The Milford Pension & Retirement protection on May 28. The filing cites order only. Checks should be made average asking rent for the three floors Fund, Starpoint Capital, Hartz estimated liabilities of $100,000,001 to payable to the New York City School was $69 per square foot. Capital Inc., Wellington Hedge $500 million and estimated assets of Construction Authority.To make Management, Ward Capital $100,000,001 to $500 million. Among inquiries, contact Rookmin Singh at ● Peter Freeman Inc. signed a 10-year /Hughes Telematics Inc. the creditors with the largest unsecured (718) 752-5843 or [email protected]. lease for 10,900 square feet at 140 Grand Lloyd’s Banking Group $618.9 Morgan Stanley Real Estate Fund Inc. SB M&A claims are Pension Benefit Guaranty St. The gallery will occupy space on the /Lloyd’s Banking Group (Manhattan), Blackstone Real Estate Corp., owed $80,000,000; 1301 GOODS AND SERVICES ground and lower levels. PBS Real Australian portfolio of Advisors (Manhattan) Properties Owner, owed $3,778,350; ● Department of Citywide Administrative Estate’s John Brod represented the distressed property loans and Thomson Reuters, owed Services tenant. The landlord, Melebar Holding Not disclosed/JPMorgan $393.9 JPMorgan Chase & Co. (Manhattan) GCI $2,362,869. Seeks competitive sealed bids by 10:30 Co., was represented by Robert Chase Bank (China) Co. a.m. on June 29 for the provision of Neborak, also of PBS Real Estate. The Essex Investment $297.5 Teledyne Technologies Inc. SB M&A ● Guider Avenue Cambro brand-specific cafeteria asking rent was $100 per square foot. Management Co., 553 Lincoln Ave., Staten Island equipment. Bid documents may be Renaissance Technologies Filed for Chapter 11 bankruptcy downloaded for free at the City Record RETAIL Corp. (Manhattan), ● Wellington Trust Co. protection on May 30. The filing cites Online site, http://a856-internet.nyc Tory Burch signed a lease for 80,000 /LeCroy Corp. estimated liabilities of $1,000,001 to .gov/nycvendoronline/home.asp, or square feet at 350 Hudson St. The Wellington Management $126.2 Berkshire Hills Bancorp Inc. SB M&A $10 million and estimated assets of vendors may request the bid by emailing fashion designer will occupy space on Co., Mendon Capital $1,000,001 to $10 million. The creditor vendor relations at dcasdmssbids@ the fifth and sixth floors. The tenant was Advisors Corp., Jacobs with the largest unsecured claim is dcas.nyc.gov, calling (212) 669-8610 or represented by Cushman & Wakefield Asset Management Robert Scarano, owed $100,000. faxing (212) 669-7603. To make Inc.’s Jamie Katcher and Don Preate. (Manhattan), Beacon inquiries, contact Masha Rudina at The owner, Trinity Real Estate, was Federal ESOP/Beacon (212) 669-4098 or mrudina@ represented in-house by Charles Federal Bancorp Inc. GOVERNMENT CONTRACT dcas.nyc.gov. Laginestra and Marc Packman. The Consolidated Media $78.8 SEEK Ltd. (21%) SB M&A OPPORTUNITIES average asking rent in the building is Holdings, Tiger Global ● Department of Transportation $53 per square foot. Management (Manhattan) Following are selected contract Requests proposals by 2 p.m. on June 20 /Brasil Online Holdings Coöperatief U.A. opportunities recently announced by New for advertising and media services ● Herman Miller signed a three-month York City agencies.To learn how to sell worldwide. The bid document can be lease for a 13,500-square-foot pop-up Selected deals announced for the week ended June 2 involving companies in metro New York. downloaded for free at City Record show at 64-68 Wooster St. The tenant FB M&A: Financial buyer M&A represents a minority or majority acquisition of existing goods and services to city government, visit shares of a company with the participation of a financial buyer. GCI: Growth capital investment www.nyc.gov/selltonyc. For a searchable Online, and printed copies can be was represented by Isaacs & Co.’s Marc represents new money invested in a company for a minority stake. SB M&A: Strategic buyer database of current procurement notices, purchased for $50 at the NYC DOT Simon. The owner, Zar Property, was M&A represents a minority or majority acquisition of existing shares of a company without the visit www.nyc.gov/cityrecord. Listings are Office of the Agency Chief Contracting represented in-house by David Zar. The participation of a financial buyer. source: capitaliq alphabetical by category and department. Officer, Contract Management Unit, 55 average asking rent in the building is

22 | Crain’s New York Business | June 11, 2012 20120611-NEWS--0023-NAT-CCI-CN_-- 6/8/2012 8:09 PM Page 1

troducing the space in February,Sa- Savanna sees gold in gnarliest of deals vanna has increased asking rents about 17% to approximately $35 a square foot, and vacancy has de- Continued from Page 3 property,something it has done only for example, the com- foot property. creased to 30% from 40%. such rich rewards explains why Sa- rarely to date. However, Mr. Corl pany asked the bank to Similarly, Mr. “When we buy a property, we vanna has succeeded in raising a to- says Savanna paid about an average change the standard Swig still manages an- want to get to it as soon as possible tal of nearly $900 million in two of $300 a foot,which certainly helps confidentiality agree- other building he lost and not waste two years fighting,” funds over four years, and is on the bolster the potential profits. Over ment that bars com- to Savanna, 80 Broad said Mr. Schlank.“We want to be as verge of launching a third. the past six years, office towers sold munication between St., a 36-story prewar nonconfrontational as possible, and The Great Recession spawned a for an average of $550 a foot. potential buyers and structure. In that case, I think we are known as people who smorgasbord of opportunities for Avoiding pricey lawsuits also mortgage holders so the building had been deal fairly.” Savanna as legions of overleveraged helps plump up the bottom line.Of- that Savanna could starved of invest- Mr. Swig, who declined to be in- buyers failed to make their mort- ten,investors who purchase default- speak with the build- ments in recent years. terviewed, apparently agrees with gage payments, leading many banks ed loans end up in protracted, ex- ing’s owner, Kent Savanna took it off the him. Last week, he showed up and to sell off those loans at a fraction of pensive battles to foreclose on the Swig. In the end, Sa- BOUGHT: 80 Broad St. office rental market lingered at a party Savanna threw their face value. Yet Savanna’s two troubled owner.Savanna takes a dif- vanna was able to work and spent $19 million at the Biergarten in the Standard managing partners note that buying ferent tack. out a deal with Mr. on a renovation that Hotel even though his host low doesn’t automatically lead to When it was interested in buying Swig to have him continue to man- included upgrading the elevators had benefited from his well- selling high. the mortgage on 5 Hanover Square, age the 25-story, 319,000-square- and electrical systems. Since rein- documented setbacks. Ⅲ “You need to have a plan to add value to the property,”said Christo- pher Schlank, who started Savanna in 1992 with money from family and friends. Nicholas Bienstock, the other managing partner, adds that Savan- KNOWLEDGE IS POWER. PASS IT ON. na isn’t a passive investor but an op- erator, one that pays attention to all the details, no matter how small. “We know how much the bathroom Electric power outage? tile costs,” he quipped. The two native Manhattanites met as teenagers when they were in- troduced by their then-girlfriends. We need to hear from you. The duo reconnected when they ‘Savanna is Report problems online, in a market on your smartphone vacated by the or your landline. smart players’ And Con Edison will call you back and let you were studying at Columbia Univer- sity’s School of Architecture. After know when your power that, Mr. Schlank became a project manager for a nonprofit that provid- will be restored. ed housing for seniors. Mr. Bien- stock, meanwhile, went on to get an M.B.A. from Columbia and spent several years working in finance be- conEd.com fore joining Savanna in 1999. “Savanna really understands 1-800-75-CONED capital structures and how they work,”said Carl Schwartz,a partner at law firm Hunton & Williams, who has represented Savanna. “And they know how to use relationships to get deals.” They also know where best to fo- cus their energies: on unsung B- level buildings ranging from 70,000 to 520,000 square feet. It is a niche largely ignored by establishment players like SL Green, although, in- terestingly, that is precisely where the real estate investment trust made its mark 20 years ago before switching its attention to acquiring top-tier properties. Rich recipe “Savanna is in a market vacated by the smart players,” said James Corl,managing director and head of real estate investments at Siguler Guff & Co., a private equity firm that has invested with Savanna.“It’s a recipe for making money.” How much money,if any,will not be known until the company sells a

©2012 Consolidated Edison Company of New York, Inc. Ad: Arnell Group Ad: Inc. York, ©2012 Consolidated Edison Company of New LEARN MORE LISTEN to a discussion at facebook.com/powerofgreen CrainsNewYork.com/podcasts

June 11, 2012 | Crain’s New York Business | 23 20120611-NEWS--0024-NAT-CCI-CN_-- 6/8/2012 8:09 PM Page 1

Hospitals suffer growing pains

Continued from Page 2 ings for 2010, New York-Presbyter- Mount Sinai is growing its own net- that recommended ways to “right- ian made $174 million, Montefiore work of physicians and clinical affil- size” the system by closing unneces- earned $102 million and Memorial iates,including a major expansion of sary facilities. New York investment Sloan-Kettering cleared $89 mil- its Mount Sinai Hospital in banker Stephen Berger headed the lion, all up from the prior year. Queens, and a new 75,000-square- group. Given the “looming headwinds foot multispecialty physician prac- Since the Berger Commission is- confronting the sector,” hospitals tice for 60 doctors in Brooklyn sued its final report in late 2006, that do not consolidate will be left Heights. As a result, Mount Sinai Saint Vincent Catholic Medical out in the cold, Moody’s analysts has no intention of seeking a merg- Centers, Cabrini Hospital, Parkway predicted in March. Hospitals are er partner, a spokesman said. Hospital, North General Hospital competing for a shrinking pool of

and Peninsula Hospital have Medicaid and Medicare dol- NYU Langone, Continuum buck ennis closed, and the state is push- lars as well as fewer privately Joining forces with NYU Lan- BUTTON DOWN? The garment district’s needle-and-thread iconography may need a makeover. ing to shutter or consolidate $24.4B insured patients.Health care gone, on the other hand, would COMBINED several facilities in Brooklyn. operating reform may expand the in- clearly help Continuum survive. expenses of sured population, but the The system has struggled financial- The bigger, the better the area’s 25 policy changes mean hospi- ly despite the prime Manhattan lo- largest hospitals The state’s reasoning is tals must operate more effi- cation of its two largest hospitals, Fashion’s new label that large systems fare better. ciently to stay in the black. Beth Israel Medical Center and St. That has been the case for New Those headwinds were among Luke’s-Roosevelt. Continued from Page 1 bers held a conference call at the end York-Presbyterian Hospital, Mon- the reasons why Lenox Hill Hospi- In 2008, it broke even.The next arts firms, the BID has decided that of May and chose a seven-person tefiore Medical Center and Memo- tal on Manhattan’s Upper East Side year, Continuum changed its ac- it’s time for a new name,symbolical- marketing committee to spearhead rial Sloan-Kettering Cancer Cen- couldn’t go it alone, despite its loca- counting procedures, but the ly signaling an end to the era of but- the efforts. Ms. Randall expects to ter. The Big Three are still the New tion in the city’s wealthiest ZIP code switch couldn’t disguise the com- tons, needles and thread. send out a request for proposals lat- York metropolitan region’s largest and a high-quality interventional pany’s bottom line:According to its The BID, which was formed as a er this month to prospective brand- hospitals,ranked in terms of operat- cardiology service. North Shore- 2010 Internal Revenue Service fil- management association in 1993, ing firms, many with international ing expenses. They have held those Long Island Jewish Health System’s ings, three of the system’s hospitals recently started the process of re- reach. spots, in that order, for at least five acquisition of Lenox in 2010 helped made money. But the gains were branding itself,playing up strengths “We’re looking at the budget, years. stanch the red ink. not enough to offset $32 million in like its midtown location and prox- and funds allocated to other uses Though size is not the only rea- By contrast,Mount Sinai Hospi- losses at Long Island College Hos- imity to three transportation hubs in will be reallocated to this important son for their success, it has allowed tal,the sixth-largest system by oper- pital in Brooklyn—a struggling fa- order to attract fresh office tenants message,” she said, adding that the them to scale up their operations, ating expenses, has survived cility that was acquired last Sep- and more vibrant retailers.The rein- campaign should be finalized with- negotiate better reimbursement through acquisitions,building on its tember by the deep-pocketed, vention will include a new name and in the next six months. rates with insurers and cut purchas- reputation as an academic medical state-financed SUNY Downstate marketing strategy. Many landlords in the district ing costs.According to their IRS fil- center that provides complex care. Medical Center. Ⅲ are on board with the initiative. Far from its garment roots “We felt it important to be inclu- “We need to get the message to sive, rather than just exclusive,” said commercial and retail brokers that Marty Meyer, vice chairman and the neighborhood has changed,” principal of Colliers International, Everyday Health closes in said Barbara Randall, president of which owns property in the garment the Fashion Center. “People are center. Continued from Page 2 the degree to which ad campaigns Everyday Health hardly has a still thinking of it as the garment The changes will certainly face agreements and its own content, ex- boost sales. lock on the future. WebMD re- district, and it’s not—there are stiff opposition from those who ecutives at Everyday Health predict “With budgets under pressure, if mains a powerhouse brand with a enough uses here that need to be re- have been the most vocal about more frenzied growth. you have great analytics, you are long history of growth, and analysts flected.” restoring the aging district to its for- “We see a path to more than $1 much more likely to get a pharma expect it will grow again. The com- Indeed, the area has strayed far mer fashionable glory.The 13-block billion in revenue,” said Mr. Wolin, marketer to take a chance with you,” pany also recently named a new from its garmento roots. Currently, area is still home to several design- who co-founded the company a said Erin Byrne, chief engagement CEO, former Pfizer executive Ca- more than 50% of its office tenancy ers, including Yeohlee Teng and decade ago in a Brooklyn kitchen officer at marketing agency Grey van Redmond. And with heavy in- is not fashion-related, according to Nanette Lepore,who have fought to with Mike Keriakos, who is presi- Health Group. vestment in mobile apps,it can boast Ms. Randall. In April, the Fashion preserve space for fashion manufac- dent. “And it’s not a question of if WebMD, meanwhile, is falling 11.5 million downloads of its smart- Center reported that the neighbor- turing.The Save the Garment Cen- we’re going to get there. It’s mostly behind in key categories. It recently phone apps. hood added 4,069 jobs in the last ter coalition has held rallies and a question of when.” lost its second-place spot in com- five years—a 5.5% increase. panel discussions in recent years to He gave a timeline of three to five Score’s health rankings to Live- Vying for video convince the city that the area’s con- years for the billion-dollar goal. strong.And it is still working on de- Though it hasn’t gained much servation as a design hub is vital. Several factors have contributed livering new return-on-investment traction with its YouTube channel, ‘People still Veering away from its association to the company’s surge, starting analytics to advertisers,according to WebMD has been incorporating with fashion may further inflame an with the purchase in late 2008 of comments by top executives on a re- video into its site since 2006 and has think of it as the already sizzling issue. Steve Case’s Revolution Health cent earnings call. a library thousands of titles deep. Network. That pushed Everyday And with its personality-driven, The company cites research from garment district, Unusual move Health ahead of WebMD into first lifestyle-oriented approach, Every- Omniture that shows users watching Mr. Meyer noted that, under its place for traffic, where it remains, day Health has pushed ahead on three to four videos per visit. and it’s not’ new identity,the neighborhood will with 27.2 million unique visitors in video—at least on YouTube, where “WebMD offers best-in-class not abandon fashion—certain pro- April, according to comScore. its channel boasts more than 23,000 health and wellness information,” a grams, such as an incubator project WebMD had 20.2 million. subscribers and nearly 5 million spokeswoman said in a statement. for young designers sponsored in Everyday Health also offers a video views. WebMD’s channel has Everyday Health also faces com- conjunction with the city, will con- broad range of content,from medical fewer than 400 subscribers and just petition from other established But the bulk of the jump comes tinue. information to lifestyle advice,which 322,000 views. competitors, such as Time Inc.’s from hotels and restaurants as well as Though a handful of new Man- has drawn a mix of advertisers. “This will be a watershed year for Health.com,as well as new entrants film,visual arts and photography stu- hattan BIDs, including Chinatown video advertising in the health cate- like Health Guru, which calls itself dios. Many of the sewing, pleating and Hudson Square, have emerged Secret of success gory,” predicted Bo Peabody, an in- the biggest site for health-related and pattern-making factories that in recent years, it is rare for a district More important, the company’s vestor who was chairman of Every- video. All of them could benefit gave the neighborhood its name are to entirely change its name.When it sophisticated approach to consumer day Health until he left in 2008 to from WebMD’s stumbles. long gone, having moved overseas or does occur, the alteration has tradi- data has helped make pharma ad- co-found Health Guru. He cited a But Mr.Wolin believes that with to the outer boroughs. Designers tionally been slight—earlier this vertising its fastest-growing catego- presentation at Pfizer for its 2012 its investments in mobile platforms such as Phillip Lim and Erin Fether- year, a BID in Jackson Heights, ry. At the same time, WebMD has campaigns in which the pharma- and video, Everyday Health is in a ston have shifted their headquarters Queens, renamed itself the 82nd been roiled by recent ad spending ceutical giant said for the first time good position to tap into the nascent to trendier parts of the city, like the Street Partnership after existing as cuts stemming from patent expira- that it wanted online video to play a online advertising market for those meatpacking district or SoHo— the 82nd Street BID. tions on popular drugs. role in promoting every brand. platforms. even the Council of Fashion Design- A decision on the new name for Everyday Health’s secret has Despite the loss of patent protec- “With video and mobile, ers of America is relocating down- the Fashion Center is still months been to combine detailed user pro- tions for some blockbuster drugs like we haven’t even started to feel town this summer. away.“I’m in the real estate business, files—generated through registra- Lipitor, online ad spending by U.S. the financial impact,” he said. Now the Fashion Center is for- not the marketing business—I’m tions across its portfolio of sites and health care and pharma companies is “We’re doing great even without mally reinventing itself. BID mem- the last one who would know what mobile applications—with third- expected to grow 23% this year, to succeeding in those categories, a good name would be,” Mr. Meyer party analytics. That way, it can $1.58 billion, and another 18% in and we’re investing in where the cat- LISTEN to a discussion at said. “We want the professionals to show pharmaceutical advertisers 2013, according to eMarketer. egory is going.” Ⅲ CrainsNewYork.com/podcasts give us some ideas!” Ⅲ

24 | Crain’s New York Business | June 11, 2012 20120611-NEWS--0025-NAT-CCI-CN_-- 6/8/2012 3:20 PM Page 1

of veterans75% believe their military skills translate to civilian jobs USINESS IVES Source: Monster Veterans Talent Index BHOT JOBS L EXECUTIVE INBOX

ADMINISTRATIVE LAW Anne Fisher JUDGE COMPANY Office of Administra- tive Trials and Hearings (OATH) Overcoming JOB DESCRIPTION Conduct the tech talent hearings for city agencies, boards and commissions shortage MOST IMPORTANT TASKS Hold WHEN PHILIPPE BUHANNIC, a hearings, prepare decisions, serve former investment banker with as mediator an M.B.A. from NYU’s Stern CREDENTIALS NEEDED Admission School of Business, co-founded to practice law in New York for at electronic-trading firm least five years, and five years of TradingScreen in 2000, relevant experience “everyone thought we would fail,” SALARY $100,000 he said recently. “We started the RECRUITER Internal company in my [business] partner’s apartment. It was a DOWNSIDE Must have knowledge former dance studio on Bleecker in a wide variety of areas Street. The first thing we did was UPSIDE Work with an agency unscrew the barres from the that improves independent walls.” The company now has adjudication and creative about 200 employees, with problem solving offices in Tokyo, London and OATH operates under the Office Chicago. Revenues have climbed of the Administrative Justice 25% over the past 18 months. Coordinator, which oversees the How has TradingScreen professionalism, efficiency, JACOB SCHWARTZ overcome the notorious talent transparency and accountability helps Sanctuary Hotel of the city’s tribunals. guests participate in shortage that stymies many tech —EVA SAVIANO unique events. firms’ growth? The short answer: TradingScreen’s employees own the firm. In an interview, Mr. Buhannic explained why. EXECUTIVE MOVES Employees own most of the Nancy J. Friedman equity in TradingScreen. Isn’t Public Relations: that rather unusual? Emily Wilson, 34, was promoted to It is. The investment firms we managing director. GOTHAM GIGS work for really like the fact that She was previously we are employee-owned—not senior vice president. only because that means we are Infor: Stephan Scholl, independent, but also because 42, joined the business software everyone working here has a real provider as president. He was previously stake in our growth. chief executive at Lawson Software. Life Experience Barr & Barr Inc.: Keith W. Stanisce, 52,

was promoted to president at the buck ennis You frequently advise budding construction management firm. He was tech entrepreneurs on how to previously executive vice president and ‘It’s my job Want to have dinner with a former Yankee player before a game? grow their startups. What do you director of operations for the mid- How about taking a dance lesson with a chorus member of Wicked tell them? Atlantic division. Stay flexible. Be ready to keep CBX: before the show? Creating memories like these for his guests is a Marco Marcellini, 41, joined as to read the modifying your original idea and creative director at the brand agency. He typical day’s work for Jacob Schwartz, director of experience was previously an architect at Peter guest. ... adapting it to the marketplace. Marino Architect. management at the Sanctuary Hotel, a year-old boutique on West Jack Welch Management Institute: We ask 47th Street. ¶ Of course, such outings don’t come cheap—dinner You’re a Parisian by birth and Danny Szpiro, 52, joined as dean. He was with a former Yankee costs about $100,000, said Mr. Schwartz. But now operate in several cities. previously associate dean for executive people How does New York stack up as education at Cornell University. the 25-year-old chief concierge works just as hard to make less- a place to run a business? Theatre Development extravagant guests feel special, too. ¶ “It’s my job to read the guest,” Fund: Daniel Renner, about It is expensive, of course, and 56, joined the said the theater major who began his hospitality career at the taxes are high. But the city nonprofit service themselves’ Waldorf-Astoria. “We don’t stand at the desk and look at maps. We government nurtures startups organization for the more than in most other places— performing arts as sit down at the bar and ask people about themselves.” ¶ A self- and you have an amazing ability director of education. described schmoozer, Mr. Schwartz spends his evenings at the city’s here to cross the lines between He was previously different industries. Wall Street, dean of the National Theatre Conserva- swank bars and restaurants, working to build up his already tory and director of education for the impressive network of connections. He credits his grandfather, who Madison Avenue, publishing, Denver Center of the Performing Arts. sold insurance door to door, with teaching him a strong work ethic. fashion are all connected. OHNY: Ellen P.Ryan, 48, joined the nonprofit cultural organization as ¶ And though he has no desire to work in theater, he said his degree Read the full interview at interim executive director. She was taught him how to present himself with poise. http://mycrains.crainsnewyork.com/ See EXECUTIVE MOVES on Page 26 —miriam kreinin souccar blogs/executive-inbox/.

June 11, 2012 | Crain’s New York Business | 25 20120611-NEWS--0026-NAT-CCI-CN_-- 6/8/2012 3:20 PM Page 1

EXECUTIVE MOVES Coming in for a Saft landing previously vice president of strategic partnerships at Brooklyn Bridge Park. Spike TV: Scott Fishman, 53, was promoted to senior vice president and on the brink of a meltdown? decide to leave Dewey? escrow with Dewey.I had to orches- Dewey partner winds executive producer. He was previously Most of the information I got was I thought I wouldn’t have to do any- trate a move in which all the clients vice president and executive producer. up on his feet after from reading the newspapers. I thing until June. But when an arti- that I service were being serviced CBIZ MHM: Charles knew Dewey wasn’t paying all the cle came out about the Manhattan during the transition. I came in the Berk, 50, was promoted exiting troubled firm compensation we were owed and it district attorney investigating possi- afternoon of April 30 with the in- to managing director was being rolled into future years, ble wrongdoing at the firm and by its tention to move to Holland & and co-practice leader but we were going through a huge former chairman, Steven Davis, I Knight, and I did [the next day]. for corporate-recovery BY AMANDA FUNG recession, and my business was knew I was out of time. That was Holland didn’t even plan for me to services at the financial good. Friday, April 27, and I spent the en- arrive that early, so they let me use services provider. He was previously tuart Saft is one of several part- tire weekend put- the chairman’s office until they managing director. ners who recently bolted from Does Dewey owe you money? ting out fires with could arrange space for me. Esther DuVal, 39, was promoted to bankrupt law firm Dewey & Yes, a lot. my clients who managing director and co-practice LeBoeuf. After five years as had their Why did you pick Holland & Knight? leader of corporate-recovery services. Sthe head of Dewey’s global real estate Do you expect to get paid back? money in Holland & Knight was in first place She was previously managing director. practice, the 65-year-old packed up All things considered,it is unlike- for a while. Having had experience Don Reiser, 58, joined as managing his team of seven associates, three ly. Notwithstanding that fact, it at large firms like Dewey, I didn’t director. He was previously a director at paralegals and two secretaries, as well was still the best five years of my need to duplicate it. I decided not to Marcum. Patricia Gambale, 47, joined as as his laundry career. go to a big Wall Street, white-shoe marketing manager. She was previously list of big- firm. I wanted something different. a marketing manager at Marcum. name real es- When did you start looking for a new firm? It was ultimately an easy decision. It Everyday Health Inc.: Joanna Breen, 48, tate clients, When the first New York Times ar- just felt right. joined the online health company as vice MOVERS & and moved to ticle came out about Dewey president, video and television SHAKERS Holland & [March 15], I was be- Have you been able to get any deals programming. She was previously chief Knight, where sieged with calls, and I done during all this? executive at Howdini.com, which she Stuart Saft he is now a knew I had an obliga- The funny thing is,while things were founded. partner and tion to my clients to going on, I was representing a group Orlando Reece, 44, joined as vice president, head of broadcast and digital co-chair of its explore my options. I that is in contract to buy the top third video sales. He was previously senior New York real met with a dozen of the Woolworth Building. The vice president of advertising sales at estate practice firms and toyed with other was the sale of the residential Grab Networks. group. Mr. Saft has more than four the idea of opening a portion of a mixed-use building on Stephanie Sy, 35, joined as senior editor decades of experience in the field. boutique firm. Sixth Avenue. Those two deals and correspondent. She was previously a helped me take my mind off the correspondent at ABC News. Did you know that Dewey & LeBoeuf was When did you finally chaos. Both close this month. Ⅲ —eva saviano

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26 | Crain’s New York Business | June 11, 2012 20120611-NEWS--0027-NAT-CCI-CN_-- 6/8/2012 3:21 PM Page 1 chemex / INSATIABLE CRITIC Tickets are $130 for members and $150 flickr.com Gael Greene for nonmembers. Email tina@griddycity THE .com or call (917) 514-8112. WEDNESDAY, JUNE 20 Join WNYC AND RICHARD HAKE at Meet @ WEEK WNYC, an LGBT networking event. Richard Hake, host of The Takeaway, Feeling the burn and WQXR Vice President Graham AHEAD Parker will host a professional LGBT networking event presented by WNYC, JUNE 18-24 the Manhattan Chamber of Commerce on Curry Hill LGBT Business Committee and Out WHAT HE’S Professionals. The event will take place CONFERENCES at The Greene Space, 44 Charlton St., READING Lexington Avenue AND SEMINARS from 7 p.m. to 10 p.m. Tickets are $40 THURSDAY, JUNE 21 and include hors d’oeuvres and drinks. WHEN HE’S NOT RUNNING Macy’s eatery brings the The New York State Bar Association To purchase tickets, visit www.wnyc.org/ Inc., Chief Executive Terry sponsors REPRESENTING THE POLITICAL events/127688 or call (646) 829-4000. Lundgren is reading about how to heat of Asian fusion CANDIDATE IN NEW YORK. The updated run it even better. He’s in the version of the workshop will explore the CULTURAL EVENTS middle of Taking People With You, o to Singapura to complexities of representing political SATURDAY, JUNE 23 by David Novak, the CEO of Yum! revel in a full peppery clients under New York’s election laws. Join BARUCH COLLEGE AND THE Brands. “It’s very much aligned blast. Don’t bother The seminar, which provides education ADHUNIKA FOUNDATION for an evening of buck ennis credits for attorneys, takes place from festivity celebrating Bangladeshi with some of the things I think going if you’re not TAKING WING: Spicy “Drums of Heaven” 8:30 a.m. to 12:45 p.m. at the New York women. The event will take place at about,” Mr. Lundgren said. “The into the burn. It’s Hotel Pennsylvania, 401 Seventh Ave. Baruch Performing Arts Center, 55 only way to make big things Gprobably silly to hit this tricked-out, Tickets are $110 for members and $205 Lexington Ave., from 6 p.m. to 9 p.m. happen is to surround yourself narrow little storefront in Curry SINGAPURA for nonmembers. To register, visit Tickets range from $40 to $100. To with strong, talented people 106 Lexington Ave. Hill for anything less than the mul- www.nysba.org. purchase tickets, visit who share your enthusiasm.” tilingual flavors of Thailand, (212) 684-6842 www.baruch.cuny.edu/calendar/. www.singapuranyc.com NETWORKING RECEPTIONS Mr. Lundgren is eager to dig Malaysia, India and Hakka China, into an antique edition of the at least as Singapura attempts them. MONDAY, JUNE 18 SUNDAY, JUNE 24 Pick FETE- TOM collected poems of Dylan I am going for the real deal on my Join Griddy City and Art21 for Join celebrity chef of the WORKING: A NY CLOSE UP FILM SCREEN- COLICCHIO for an event week Thomas. But for now, he’s busy first visit, letting my companions, a CUISINE Asian fusion ING.The screening and networking event honoring chef Gerry Tiger from Singapore and a Lion with Macy’s Be Book Smart PRICE RANGE $10-$16 welcomes auction houses, gallerists, Hayden. The evening will campaign, which starts June 22. from Malaysia, handle the ordering. curators, dealers and collectors to build feature Mr. Hayden’s culinary colleagues We’re amused by the use of the aba- SERVING Lunch, dinner clientele and discover new talent.The dishing up their favorite foods at this After raising $4.9 million for 1.6 million books last year, Mr. cus as room divider and decor,and by RESERVATIONS Suggested evening will feature an open bar and hors fundraiser benefiting ALS research. The the bold march of blowsy lotus lamp- d’oeuvres while Webby-nominated NY event will take place at Colicchio & Lundgren is hoping to again pass shades—red, scarlet, turquoise, As- NOISE LEVEL Noisy but not Close Up plays on the big screen.The Sons, 85 10th Ave., from 7 p.m. to the million-book mark by asking troturf green—just above our heads. impossible screening will take place at the Eventi 10 p.m. Tickets are $250. To purchase, customers to donate $3 at the Hotel SkyBox, 851 Sixth Ave., with a visit www.giveforward.com/haydensheroes register for a $10-off coupon. My pals debate what to try in the I can’t wait to return. private Griddy City reception at 6 p.m. or email [email protected]. various categories. They are brutal- and general admission at 6:30 p.m. —eva saviano “The goal is to get books in front ly critical. Clearly homesick for I will definitely go back. of kids, and that costs money,” he I’ll let them simmer awhile. these familiars—Indian paneer, To view Crain’s classified events listings, go to www.crainsnewyork.com/events said. —ADRIANNE PASQUARELLI Hakka noodles, Malay rendang, In- NO HATS Never again. donesian beef semur—they are not about to yield a unit of jolt on the Scoville heat scale. I listen to their Heaven”—spicy pulled-back wings, mourning that the sauce on the also fried—can I see the difference. Malay boiled egg is not as torrid as They’re crunchy,too,and wildly juicy. that of our chili-detonated paneer It seems that by cautiously re- cheese stew—a five-alarm fire. questing medium-to-hot spicing on a Meet & Mingle Inside its layer of crunch,the cool second outing with non-Asian com- egg white and nicely turned out yolk panions, we’ve crippled the kitchen, are a bland foil for the devilish mix of though I rather like the subtle flavor WITH THE HONOREES AND THE onions, shrimp paste and chili heat. layering of the Malay fish curry—co- It’s definitely hot enough for me.“At conut, curry, peppercorns—and the SMALL BUSINESS COMMUNITY least the egg is perfectly cooked,”one fish itself is carefully cooked. of my companions notes. Tonight my friends are more en- DATE: I’m biting into a Malay fried thusiastic about the chicken larb than Crain’s welcomes noted entrepreneur Monday chicken wing,savoring its spicy aura, I am. Rice powder, mint and chilies June 18, 2012 thrilled that my tongue is not too are tuned too low to make up for bor- and digital economy visionary blistered to revel in the distinct layers ing crumbles of white-meat chicken. Esther Dyson as the keynote speaker of heat in the bright orange dipping Sizzling lamb, an old favorite from PLACE: sauce. “At home, the chicken would the days when New York was an out- for this year’s event. Sentry Centers be more garlicky,yellower,”notes the post of Szechuan, is tame, too. 730 Third Avenue Tiger in the Kitchen, Cheryl Tan. All five cultures are covered in Well, maybe the meat is a bit dry. the noodle choices. I consider pad Crain’s 2012 Top Entrepreneur Honorees: Backup heat arrives with a tray of Thai or Singapura curried noodles, -- Clint White, President; Sean Keepers, Creative Director; and TIME: sauces:more of that same layered or- but I have a weakness for the gum- Simona Tanasescu, Vice President; WiT Media. Networking ange dynamite, a sweet sauce, a few miness of rice noodles. Indeed, the slivers of tiny bird peppers in vinegar. -- Charles Feit, CEO; OnForce Solar, Inc. Breakfast: marvelous drunken noodles with 8:00-8:30AM They dismiss the Hakka noodles black soy sauce and red chilies don’t -- Laura Geller, President and CEO; Laura Geller Makeup. as too bland and the Sarawak sambal suffer at all from timid spicing. -- Matt Blumberg, Co-Founder, CEO, and Chairman; Return Path. udang with ginger and coconut Singapura, of course, is the orig- Program: cream as the victim of tight little inal name for Singapore. I’ve never -- Joe Meyer, President and CEO; Chinedu Echeuro, Founder; HopStop. 8:30-10:00AM shrimp. The critical expats are hap- been to Singapore. It’s been on my -- Tony Shure and Colin McCabe, Co-Founders; Chop’t Creative Salad Co. pier with beef semur—a complex list of food destinations since long preparation with tamarind,soy sauce before skyscrapers chased away the and fennel—than the lamb rendang. legendary street stalls. I dream of REGISTER TODAY: It sits in a swamp of coconut, curry, tagging along one winter when the kaffir lime and chili paste, juicy with Tiger is visiting her family. In the www.crainsnewyork.com/events-smallbiz2012 fat,but they find the flavors wanting. meantime,there is restaurateur Shi- Or call the Events Hotline: (212) 210-0739. PLATINUM SPONSOR: I’m happy sharing both. va Natarajan’s modest little homage On my second visit, I order the to a city of fusion. For sponsorship opportunities, please contact Trish Henry at Malay wings, so maligned earlier, for my guests to chew on as we scan the Copyright © 2012 by Gael Greene. [email protected] or (212) 210-0711. menu. Not till I taste the “Drums of Syndicated by www.insatiable-critic.com.

June 11, 2012 | Crain’s New York Business | 27 CN015208.qxp 6/7/2012 12:47 PM Page 1

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