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The Bloom Is on the Roses

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The Bloom Is on the Roses 20100426-NEWS--0001-NAT-CCI-CN_-- 4/23/2010 7:53 PM Page 1 INSIDE IT’S HAMMERED TOP STORIES TIME Journal v. Times: Story NY’s last great Page 3 Editorial newspaper war ® Page 10 PAGE 2 With prices down and confidence up, VOL. XXVI, NO. 17 WWW.CRAINSNEWYORK.COM APRIL 26-MAY 2, 2010 PRICE: $3.00 condo buyers pull out their wallets PAGE 2 The bloom is on the Roses Not bad for an 82-year-old, Adam Rose painted a picture of a Fabled real estate family getting tapped third-generation-led firm that is company that has come a surpris- for toughest property-management jobs known primarily as a residential de- ingly long way from its roots as a veloper. builder and owner of upscale apart- 1,230-unit project.That move came In a brutal real estate market, ment houses. BY AMANDA FUNG just weeks after Rose was brought in some of New York’s fabled real es- Today, Rose Associates derives as a consultant—and likely future tate families are surviving and some the bulk of its revenues from a broad just a month after Harlem’s River- manager—for another distressed are floundering, but few are blos- menu of offerings. It provides con- A tale of 2 eateries: ton Houses apartment complex was residential property, the vast soming like the Roses.In one of the sulting for other developers—in- taken over, owners officially tapped Stuyvesant Town/Peter Cooper Vil- few interviews they’ve granted,first cluding overseeing distressed prop- similar starts, very Rose Associates to manage the lage complex in lower Manhattan. cousins and co-presidents Amy and See BLOOM on Page 42 different endings PAGE 3 Tech shops woo Walmart young math whizzes from Wall Street targets NY SMALL BUSINESS, PAGE 16 sites on QT Hopes to bypass unions as it eyes B’klyn’s Gateway II BY DANIEL MASSEY the 630,000-square-foot Gate- BUSINESS LIVES way II shopping center off Jamaica Bay in Brooklyn is among the sites GOTHAM GIGS Walmart is eyeing in a renewed Paying tulip service push to build its first New York on Park Avenue P. 43 City store, sources familiar with G ANNE FISHER looks the situation say. at the alternatives to Union leaders, fearful of a po- bank credit P. 43 tential Walmart deal at the Relat- ed Cos.-owned site near Spring G MOVERS & SHAKERS Creek Towers, are planning a BOLD PLAN: Chancellor He’s gearing up for the protest in the next 10 days, but so Matthew Goldstein city’s big bike tour P. 44 wants to make CUNY a far both the Arkansas-based retail powerhouse in scientific G GAEL GREENE bets on giant and the developer insist there research. P. 46 is nothing to announce. 5 & Diamond buck ennis “We know that New Yorkers want to shop and work at Walmart, REPORT EDUCATION and as a result,we continue to eval- INDEX uate potential opportunities here,” says Steven Restivo,the company’s THE INSIDER _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _8 director of community affairs. REAL ESTATE DEALS PLUS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _12 “New Yorkers want quality jobs NEIGHBORHOOD JOURNAL _ _ _ _ _ _ _ _ _ _ _ _ _14 and affordable groceries, and it re- CLASSIFIEDS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _38 mains our goal to be part of the so- THE RAD SCIENTIST lution.” HOT JOBS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _43 A Related spokeswoman would EXECUTIVE MOVES _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _43 say only that the company has not The man who remade CUNY now has science in mind THE WEEK AHEAD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _46 signed any leases for Gateway II. THE WEEK ON THE WEB _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _47 The developer has already success- which offers students personalized attention and re- BY MIRIAM KREININ SOUCCAR CHEAT SHEET _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _47 fully shepherded the shopping quires they attend classes full-time. Next month, See WALMART on Page 4 CUNY will announce its initial results from the pro- when matthew goldstein is vexed by a problem,he gram—the percentage of students who actually grad- can’t sleep. uated was more than double the usual disappointing 17 5 So it was that at 2:30 in the morning a few years ago, 25%. Now CUNY is planning to build a new 5,000- the chancellor of the City University of New York student community college in Manhattan, based on started pacing his Manhattan apartment,trying to fig- Mr. Goldstein’s new framework. ure out how to keep students from dropping out of “I used to wake up in the middle of the night and ELECTRONIC EDITION community colleges in such high numbers. think of a theorem I couldn’t crack,” says the former Mr. Goldstein came up with a new program, the math professor, who graduated from City College in NEWSPAPER Accelerated Study of Associate Programs, or ASAP, See CHANCELLOR’S PLANS on Page 36 71486 01068 0 20100426-NEWS--0002-NAT-CCI-CN_-- 4/23/2010 7:11 PM Page 1 IN BRIEF NEW YORK’S GROSS CITY PRODUCT GREW AN NY’s paper tigers ESTIMATED 0.9% IN THE FOURTH QUARTER, ending two years of declines, according to city will be out next month. Comptroller John Liu. Growth in the gross city Journal takes on Times in its own backyard. She adds that Mr. Murdoch’s tradition- product (estimated at $602 billion in 2009, or al weapon of undercutting his rivals may in- 4.2% of the nation’s total economic output) still Some call it ‘the last great newspaper war’ flict some damage on the Times, but with- lagged the jump seen in gross domestic out necessarily helping the Journal. Her product, which rose 5.6% in the fourth quarter. book says the paper lost $87 million in fis- City sales tax collections also increased, Mr. Liu BY MATTHEW FLAMM cal 2009, which ended last June. noted, rising more than 12% in the fourth There is some evidence that the Journal quarter from the year-earlier period, after four the newspaper business is struggling has been discounting heavily to attract ad- quarters of consecutive declines. across the country.You wouldn’t know it in vertisers to the new section. One presenta- New York. tion that was made to a local advertiser of- GARMENT DISTRICT MERCHANTS AND NEARBY The Wall Street Journal launches its long fers a full page in the local edition and one RETAILERS ARE REELING FROM NEWS OF A awaited New York edition today, adding a in the New York Post for under $20,000. city plan that would ban automobiles along stand-alone section full of local news in its The official rate card price for a region- West 34th Street between Fifth and Sixth bid to become more of a general-interest al page in the Journal can run around avenues. Rerouted traffic could delay deliveries paper—and challenge The New York Times. bloomberg news $100,000. A page in the Post costs any- News Corp.’s New York Times’ for apparel factories and design showrooms and In response, the Times has made New Rupert Murdoch Arthur O. Sulzberger Jr. where from $5,000 to $25,000, according alter production schedules. Ramdat Harihar, York private schools a regular beat, started to a media buyer. longtime chief executive of R&C Apparel a new weekday real estate column, and be- A Dow Jones spokeswoman says that Corp., a factory on West 39th Street that serves gun an ad campaign to tout its strengths as the presentation was made to a small group local designers such as Anna Sui, says the auto a New York paper. All the investment of companies that had never before adver- ban would add an extra half-hour to every For a daily newspaper reader,what’s not tised in the Journal or the Post,and that oth- delivery. to like? in both papers erwise there has been no deep discounting.
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