DECLINE HOME Top Property Sales One New Yorkers P

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DONALD THE LIST Two stores TRUMP Top Manhattan for the CALLS Office Leases P.12 price of DECLINE HOME Top Property Sales one New Yorkers P. 6 P.14 P. 2 0 just aren’t dying like they used to. OF THE That’s trouble for some, opportunity for others PAGE 16 VOL. XXXII, NOS. 29, 30 WWW.CRAINSNEWYORK.COM DEATH BUSINESS

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JULYCRAINS 25-AUGUST 7, 2016

FROM THE NEWSROOM | JEREMY SMERD Cleaning up the cleaners IN THIS ISSUE 4 AGENDA Less than 2% DRY CLEANERS ARE 5 IN CASE YOU MISSED IT of Gotham’s a New York industry hidden in plain intercity freight sight. As long as our shirts and skirts come back clean and 6 ASKED AND ANSWERED moves by rail, compared to the price is right, we don’t give it a second thought. Yet as 7 HEALTH CARE nearly 40% nationwide Crain’s pointed out in a May cover story, the industry has 8 INSTANT EXPERT long exposed its workers to a chemical linked to cancer, 9 REAL ESTATE perchloroethylene, while paying a subminimum wage. 10 The articles caught the attention of Gov. Andrew VIEWPOINTS Cuomo, who just expanded a task force he set up last year 12 THE LIST to curb health risks and wage FEATURES violations in nail salons. Now in his crosshairs: dry Crain’s wrote a cleaners, retailers, car washes, home health care 16 DEATH BIZ fantastic article. It agencies, farms and other businesses that rely on low- “ 20 TWOFERS wage, immigrant workers. certainly helped 29 GOTHAM GIGS “Crain’s wrote a fantastic article on this,” said Cuomo’s raise awareness ... counsel, Alphonso David. “It certainly helped raise awareness … and was a factor in our efforts to pursue this.” and was a factor We understand the difficulties of running an in our efforts to enterprise in New York, which is why we can report pursue this intelligently on the complexities of industries that exist on the economic margins yet play a role in our daily lives. We are not advocates, but we do believe that the light we shine can help policymakers and regulators understand the lives and livelihoods they oversee. P. 29 SALMAN AHMAD Despite decades of efforts to eradicate perc, at least 1,500 sites use the chemical—400 of them in apartment buildings that are within 650 feet of 2.3 30 SNAPS million residents. Though the cleaning operations must vacate the buildings by 31 PHOTO FINISH 2020, moving is no easy task: Rent is expensive, as are capital improvements. The thin margins are one reason it’s a low-wage field. One worker in our cover story who spoke about a wage suit he filed against a previous employer emailed us to say he was fired after the article ran. Ernie Aguinaldo wrote that his boss at Hong Cleaners on the Upper East Side suspected he was setting up a Department of Labor case and would sue the business. “No matter what assurance I told them that I won’t, they still fired me.” His manager, Lei He, said Aguinaldo left of his own accord. Then he made accusations of his own against the worker. The situation hints at the risks workers take when speaking out, as well as the ON THE COVER importance to owners of documenting the steps they take to follow state labor PHOTO: BUCK ENNIS law. The governor’s counsel couldn’t comment on Aguinaldo’s case specifically, but he did issue this warning: “We’d want anyone fired for speaking his mind to DIGITAL DISPATCHES contact us to see if it’s unlawful retaliation or a lawful business action.” Go to CrainsNewYork.com READ The 25-ton Koenig Sphere will return to the NOMINATIONS ARE OPEN! Deadline is Aug. 29 World Trade Center site. The battered > CRAIN’S bronze structure 20 Under 20 stood between the On Nov. 28, Crain’s will Twin Towers prior to recognize New York’s the 9/11 attacks. The youngest business brains who sphere will be moved to are starting companies and the newly opened Liberty Park, which is launching their careers. Do across the street from the Sept. 11 you know someone who memorial plaza. should be on our list? ■ Social-media startup Sprinklr has raised SUBMIT A $105 million in funding. The latest round NAME NOW elevates the company’s valuation to $1.8 Go to CrainsNew billion from $1.17 billion—sealing its spot in York.com/20nominate the Unicorn Club, companies valued north of $1 billion.

Vol. XXXII, Nos. 29, 30, July 25, 2016—Crain’s New York Business (ISSN 8756-789X) is published weekly, except for double LISTEN Our podcast this week delves deep issues the weeks of June 27, July 11, July 25, Aug. 8, Aug. 22 and Dec. 19, by Crain Communications Inc., 685 Third Ave., into the death industry: Funeral parlors are New York, NY 10017. Periodicals postage paid at New York, NY, and additional mailing offices. Postmaster: Send address closing, cemetaries are full and New Yorkers changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. For subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 one year, $179.95 two years.(GST are living longer. Music by Johnny Ripper. No. 13676-0444-RT) CrainsNewYork.com/podcast

JULY 25, 2016 | CRAIN’S NEW YORK BUSINESS | 3 20160725-NEWS--0004-NAT-CCI-CN_-- 7/22/2016 7:15 PM Page 1

AGENDAWHAT’S NEW JULY 25, 2016 To build a West Side bus terminal, don’t start by digging a hole

e sympathize with leaders who try to get big projects done in New York City. It’s like navigating a mine- field while a bevy of archers slings arrows your way. John Degnan, the chairman of the Port Authority of NewW York and New Jersey, is starting to discover this as he endeavors to replace the agency’s decrepit, inadequate bus terminal on 8th Avenue and 42nd Street. Wherever he chooses to build a massive new depot, someone will HOT SEAT: The complain and probably sue. But there’s a difference between upset- Port Authority’s John Degnan ting someone and upsetting everyone, which is what Degnan appears got burned by to have done as he zeroes in on a location just west of the existing not consulting locals in his site midtown bus station. Seemingly every elected official on the West search. Side, including Rep. Jerrold Nadler and Assemblyman Richard Gottfried, as well as the de Blasio administration and Manhattan church, a Head Start program, small businesses and people’s homes. Borough President Gale Brewer, is apoplectic. They agree—as do we— We would not bet on New Jersey bus commuters winning the day. that a new bus terminal is urgently needed but say Degnan has failed Even the West Side’s most famous scuttled projects—Westway in to involve them and the community in the 1970s and 1980s and the Jets stadium evaluating options to build one. Even if the site being considered by the in the 2000s—had powerful forces back- This must be frustrating for Degnan, ing them. Degnan’s bus terminal has, given that Port Authority officials have Port Authority is best, the project is not well, Degnan. Gov. Chris Christie, who been debating the matter for two years. feasible with this level of opposition appointed him, is keeping his distance But the discussion has been internal, and from the Port Authority these days, even if the targeted site is best, the proj- leaving the chairman to go it alone (or ect is not feasible with this level of opposition. On the political front, it run amok, his critics would say). Gov. Andrew Cuomo, the agency’s probably requires land-use approval from the City Council and mayor. other big player, did not come to Degnan’s defense when the cries of On the legal front, it is vulnerable to lawsuits challenging its potential protest rang out. use of eminent domain and its conformity with environmental laws, All these signs point to a long, costly, multifront battle that would because the targeted site has private owners and polluted air. And in almost surely see the bus terminal plan join the West Side’s cemetery the important realm of public relations, the project could threaten a of big ideas. Degnan will have to find a better way. – THE EDITORS

FINE PRINT The city’s economy has reached historic employment levels, and now it is nearing another milestone. With little fanfare, New York City’s unemployment rate inched down in June to 5% from 5.1% in May. In the past 40 years, the unemployment rate has never gone below 4.6%, a low it reached only in March and April of 1988 and October, November and December of 2006.

BY GERALD SCHIFMAN STATS 25 WORDS OR LESS THE TAXI AND LIMOUSINE COMMISSION voted to limit the hours of for-hire vehicle drivers. That will make TIRED DRIVERS the streets safer, but drivers’ wallets will suffer. AND THE CITY AND THE Television is not a Daily hour limit for a driver, “ with a maximum of 72 gimmick, and if 12 hours per week, as of Nov. 1

you think it is, Portion of active TLC-licensed drivers % who typically work 12+ hours a day; you’ll lose again” 3 7% drive 72+ hours a week — Roger Ailes, speaking to Richard Yearly revenue that yellow cab Nixon during his 1968 presidential drivers stand to lose by working campaign. Nixon promptly hired him. $1,581 just one fewer hour per week Ailes was ousted as Fox News chief July 21 over allegations of sexual Hours of awake time at which driver impairment is equivalent to having a Increase in crash rate for taxi harassment 18 blood-alcohol concentration of 0.05%— % drivers working more than 12 above the DWI level for commercial drivers 23.8 hours in a day

BUCK ENNIS, BLOOMBERG ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY SOURCES NYC Taxi and Limousine Commission, New York State Department of Motor Vehicles

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AGENDA ICYMI CRAINS EDITOR IN CHIEF Rance Crain publisher, vp Jill R. Kaplan assistant to the publisher Devin Arroyo, 212.210.0701 New-look subway cars to offer EDITORIAL editor Jeremy Smerd Wider Doors assistant managing editors Erik Engquist, amenities, much-needed space Jeanhee Kim, Robin D. Schatz web editor Amanda Fung art director Carolyn McClain photographer Buck Ennis OV. ANDREW CUOMO’S New LED Headlights mid-July announcement senior reporters Joe Anuta, Aaron Elstein, detailing the creature comforts of a new fleet of Matthew Flamm, Daniel Geiger reporters Rosa Goldensohn, subway cars shows how simple innovations—like Jonathan LaMantia, Caroline Lewis, Addie Morfoot Digital Display G data reporter Gerald Schifman the countdown clocks first introduced in late 2009—can Wi-Fi web producer Peter D’Amato improve the quality of a commute and make the system editorial interns Kathryn Casteel, Harini Chakrapani, Stefan Engquist operate more efficiently. columnist Greg David Wider Doors contributing editors Tom Acitelli, The Metropolitan Transportation Authority plans by 2020 at the Open Gangway Theresa Agovino, Erik Ipsen, earliest to put into operation the first of 1,025 new cars, 750 of Cara S. Trager, Brendan O’Connor ADVERTISING which will connect openly to one another—a long-awaited www.crainsnewyork.com/advertise upgrade that’s expected to add standing room and ease con- advertising director Irene Bar-Am [email protected] or gestion. “Open-gangway” cars like those in use in London, 212.210.0133 senior account managers Paris and Toronto do not have doors between the carriages. Zita Doktor, Jill Bottomley Kunkes, Rob Pierce, Stuart Smilowitz That allows passengers to spread out more evenly, increasing overall capacity by roughly 10%, which senior marketing coordinator LeAnn Richardson is how much weekday subway ridership has gone up here since 2010. sales/events coordinator Ashlee Schuppius 212.210.0282 The cars will feature Wi-Fi and USB jacks and, like the new buses the governor unveiled in March, will bear [email protected] colors that many New Yorkers might not recognize as the state’s official shades: blue and what this reporter ONLINE general manager Rosemary Maggiore mistakenly referred to as yellow. “The state color is not yellow,” Cuomo corrected. “Gold.” 212.210.0237 The new cars are part of the $27 billion, five-year MTA capital plan, which also includes rebuilding 31 of its [email protected] CUSTOM CONTENT 469 subway stations. Granite floors will replace concrete, and iron bars will be exchanged for glass barriers. director of custom content Patty Oppenheimer 212.210.0711 The classic green globes outside stations will be replaced with electronic boards showing train status. [email protected] custom content manager “I’m sure [MTA] Chairman [Thomas] Prendergast, when he’s done, is going to put on every door and every Giovanni Perla [email protected] train, ‘Thank you, New York state, for the $27 billion,’ ” Cuomo joked. “As long as the train is on time.” EVENTS www.crainsnewyork.com/events — ROSA GOLDENSOHN director of conferences & events Courtney Williams, 212.210.0257 [email protected] manager of conferences & events Home court DATA POINT Islanders on thin ice Adrienne Yee The first presidential debate between Islanders fans fed up with Barclays OFFICE LEASING THROUGH THE AUDIENCE DEVELOPMENT the Democratic and Republican nomi- Center’s poor sight lines may get a director of audience & content partnership development nees has been relocated to Hofstra FIRST SIXTH MONTHS OF THE YEAR reprieve after reports emerged that Michael O’Connor, 212.210.0738 University after officials at Wright IN MIDTOWN MANHATTAN the team is in talks with the Mets [email protected] State in Ohio backed out of hosting the ownership about building a new CRAIN’S 5BOROS event because of financing and securi- DECLINED 18.7% TO 8.6 MILLION arena in Willets Point, Queens, an www.5boros.com Irene Bar-Am, 212.210.0133 ty concerns. New York residents SQUARE FEET FROM THE SAME area that has resisted redevelop- [email protected] Hillary Clinton and Donald Trump will ment but one that would be closer REPRINTS face off in Hempstead on Sept. 26. PERIOD LAST YEAR, PART OF A to the team’s historic fan base. reprint account executive Krista Bora 212.210.0750 BOROUGHWIDE DROP OF 11.2% – BRENDAN O’CONNOR Rao’s row PRODUCTION TO 13.6 MILLION SQUARE FEET production and pre-press director Frank Pellegrino, owner of East Simone Pryce Harlem hotspot Rao’s, has sued the media services manager Nicole Spell head of Rao’s Specialty Foods, the SUBSCRIPTION CUSTOMER SERVICE www.crainsnewyork.com/subscribe company that sells the famed Italian [email protected] eatery’s sauces, pastas and olive oils, ports will be able to take group trips 877-824-9379 (in the U.S. and Canada). $3.00 a copy for the print edition; or $99.95 claiming that CEO Sharon Straci runs at reduced fares, a service that will be one year, $179.95 two years, for print the business like a “personal fiefdom,” available citywide by the end of the subscriptions with digital access. to contact the newsroom: refusing to allow Pellegrino, who owns year. A joint venture between www.crainsnewyork.com/staff 37.5% of the company, to participate Brooklyn-based start-up Bandwagon 685 Third Ave., New York, NY 10017-4024 in decision-making or sit on its board and taxi-owners group Creative phone: 212-210-0100 fax: 212-210-0799 of directors. Mobile Technologies will allow Entire contents ©copyright 2016 The house that Alex built Crain Communications Inc. All rights users of the Bandwagon or Arro Yankee Alex Rodriguez’s name reserved. ®CityBusiness is a registered Iran-linked seizure overturned apps to pay a $5 flat fee in addition trademark of MCP Inc., used under license and some of his dollars will go to agreement. A federal appeals court ruled that to fares for shared rides that are 25% a new baseball and softball CRAIN COMMUNICATIONS INC. the U.S. government cannot seize a to 30% less. academy for young sluggers in the BOARD OF DIRECTORS landmark office building located at chairman Keith E. Crain 650 Fifth Ave. The judicial panel Goldman cuts bolster profits Bronx. The $11.25 million Alex president Rance Crain Rodriguez Field will be located in treasurer Mary Kay Crain, Cindi Crain found that authorities had failed to Goldman Sachs’ recent cost cutting executive vp, operations William Morrow provide adequate evidence that its appears to have led to quick returns Roberto Clemente State Park executive vp, director of strategic along the Harlem River and will be operations Chris Crain owner, the Alavi Foundation, was as the company announced better- executive vp, director of corporate working on behalf of the Iranian than-expected second-quarter jointly funded by the state, Major operations K.C. Crain League Baseball, the MLB Players senior vp, group publisher David Klein government. The ruling means earnings despite a 13% drop in rev- vp/production, manufacturing David Kamis families of victims of terrorist enue from this time last year. Wall Association and A-Rod himself. chief financial officer Thomas Stevens attacks linked to Iran will not be Street’s largest stand-alone invest- The three-time American League chief information officer Anthony DiPonio eligible to collect proceeds from the ment bank reported $1.82 billion in MVP, who is kicking in $750,000, founder G.D. Crain Jr. [1885-1973] chairman Mrs. G.D. Crain Jr. [1911-1996] building’s sale. profit, or $3.72 a share, beating esti- said he hopes the park will give secretary Merrilee Crain [1942-2012] mates of $3.08. The company’s kids a chance to “dream big from Airport ride-alongs overall compensation fell by 13% the field as well as in the stands.”

GOVERNOR'S OFFICE GOVERNOR'S Taxi riders at LaGuardia and JFK air- and headcount dropped by 5%.

JULY 25, 2016 | CRAIN’S NEW YORK BUSINESS | 5 20160725-NEWS--0006-NAT-CCI-CN_-- 7/22/2016 5:03 PM Page 1

AGENDA ASKED & ANSWERED POLITICS INTERVIEW BY AARON ELSTEIN AND ROSA GOLDENSOHN

DONALD TRUMP The Trump Organization

wo days before Republican presidential candidate Donald Trump announced Indiana Gov. Mike Pence as I do know what my his running mate, he spoke to Crain’s about more “ personal income parochial issues that may shape how he’s viewed in New is, but it’s none of TYork.Those included who should get credit for building the Bronx your business municipal golf course bearing the Trump name—the city said he was just the operator and clubhouse builder, not the developer, as Trump asserts—and how much the real estate tycoon really makes.

Thanks for taking the time, Mr. Trump. How long have you worked at Crain’s? It’s a terrific magazine. Say hello to everybody, OK? Let me just say very quickly: The golf course was under construction for many, many years. It had tremendous problems, as you know, tremendous. I got a call from the Bloomberg administration and Michael [Bloomberg], in fact. Michael said, “I’d love to have this open by the end of my administration,” and there was about a year left.

I’ve spoken to people who said the golf course was mostly built when you came along and you just seeded the grass. Wrong, that’s just wrong. They know it’s wrong. In my opinion, that course wouldn’t have opened for 10 years, more, if I hadn’t gotten involved. It was in raw form. Take a look at the pictures—it was all dirt.

Adrian Benepe, a former parks commissioner, said your account isn’t true. Well, he’s wrong. Look, he doesn’t want to be embarrassed. This all DOSSIER happened under his watch. WHO HE IS Chairman and president, The Trump Who are you going to pick for vice president? Organization, and GOP Now there’s a big story! That I’m talking to you about a golf course, presidential nominee you’re probably saying, “I can’t believe it’s Trump.” Who do you like, AGE 70. If elected, he Rosa, out of the names mentioned? would be the oldest president ever at I’m from New Jersey. inauguration, beating Do you like him [Gov. Chris Christie]? Ronald Reagan by about eight months. He’s a Springsteen fan, like myself. Are you a Springsteen fan? RESIDES A 30,000-square- I like him, I like him. I love Frank Sinatra, he was a friend of mine. He foot penthouse in Trump Tower was a great guy and a tough cookie, I will tell you. He was great. So EDUCATION B.S. in you like Chris. economics from the University of Pennsylvania’s Wharton I have a colleague who has a question on another topic. Can I bring him in? School of Business. He also Yeah, sure. Now, Rosa, treat me fairly on the golf course. Take a look attended Fordham University for at the site the day the lease was signed. It was a big pile of dirt, OK? two years. Thank you, Rosa. A DAUGHTER’S WISH He has said he took over renovating It’s Aaron Elstein. How did you receive the STAR tax credit, which is available Central Park’s Wollman Rink in to New Yorkers whose household income is $500,000 or less? 1986 because his daughter I don’t know anything about it. I heard something, maybe you wrote Ivanka wanted a place to ice- skate close to home. something. I have many corporations—many—I think 500 entities. But I wouldn’t know. I had heard the city made a mistake. Maybe there WHAT’S IN A NAME? Trump are deductions involved. I don’t know. Maybe there was charitable owns three properties in New York: Trump Tower, 40 Wall St. giving involved. I really wouldn’t know. and a 30% share of 1290 Sixth Ave. Others, like Trump Plaza or You don’t know what your personal income is? Trump Park Avenue, pay him a fee I do know what my personal income is, but it’s none of your business. for the use of his name.

You’re running for president—it is the public’s business. NEWSCOM No, no, it’s none of your business. You sort of have a pretty good idea. There are many deductions that you’re entitled to. There are many other things.

Give me an example of the deductions you take. You’ll figure that out. All you have to do is look. You’ll figure it out, OK? Take care of yourself. [Hangs up.] Ⅲ

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AGENDA HEALTH CARE

tected New York’s The insurer said the Warren Buffett company acquires NY’s physicians, mid-level deal will provide it providers, hospitals and with Berkshire largest medical malpractice insurer dentists like no other for Hathaway’s industry over 40 years,” Buffett expertise, an ability to Analyst projects purchase price to be around $2.7 billion BY JONATHAN LAMANTIA said in a statement on expand existing prod- July 18. “We welcome uct lines and stronger fter nine Financial Services and is an attractive takeover Insurers and Academic the chance to add them financial backing. months of expected to close in the target. According to Health Professionals to the Berkshire But policyholders talks, a sub- third quarter of 2017. regulatory filings, lia- Insurance Association, Hathaway family and won’t be entitled to an sidiary of The recent insol- bilities exceeded assets respectively, at the end enhance their capacity ownership stake in ABerkshire Hathaway vency of two of the by $138 million and of 2015. to serve these and other Berkshire Hathaway, has agreed to acquire insurer’s competitors $77.3 million at “MLMIC is a gem of a policyholders for many whose shares closed at New York’s largest helped to make MLMIC Physicians’ Reciprocal company that has pro- years to come.” $216,805 on July 22. Ⅲ medical malpractice insurer in a deal that could have wide- ranging effects on doc- tors, hospitals and dentists statewide. Billionaire investor Warren Buffett per- sonally kicked off the negotiations between Omaha, Neb.-based National Indemnity Co. and Medical Liability Mutual Insurance Co. (MLMIC) last October. Founded in 1975, the Manhattan-based insurer is owned by its policyholders— 15,000 physicians, 4,000 dentists and several dozen hospitals, according to its website. In 2015, it reported an under- writing profit of $61 million. At the end of the year, it had a $1.8 billion policyholders’ surplus. The deal will convert the malpractice insurer to a company owned by share- holders. Policyholders will receive a distribu- tion of whatever surplus exists at the time of closing. The company said the amount each policyholder will receive is expected to be “approximately equal” to the premi- ums paid to MLMIC during the three-year period ending July 14. The insurer’s 39- member board unani- mously approved the deal on July 15. It is expected to be priced at about $2.7 billion, WE’D LIKE TO SHED SOME LIGHT ON HOW YOU CAN BETTER CONTROL YOURS. according to an analyst note by Manhattan investment bank Keefe Installing a network of sensors and smart fixtures allows you to monitor important data like occupancy and daylight Bruyette & Woods, exposure. For more eye-opening tips on how you can reduce your lighting costs, be sure to explore our new interactive which advised MLMIC. ofﬁce building at our website. Financial incentives are also available. So call 1-877-797-6347 and ﬁnd out if you qualify. The deal is subject ManageEnergy.conEd.com #ManageEnergy to regulatory approval from the New York State Department of

JULY 25, 2016 | CRAIN’S NEW YORK BUSINESS | 7 20160725-NEWS--0008-NAT-CCI-CN_-- 7/22/2016 5:03 PM Page 1

AGENDA INSTANT EXPERT FREIGHT BY JOHN HENRY Why are so many big trucks pounding New York’s roads? [in 5 steps]

THE ISSUE THE PLAYERS New York City and its suburbs are among the most truck- Nadler (right), a 24-year dependent areas in America. While almost 40% of U.S. veteran of Congress, 1 intercity freight moves by rail, only 1.8% does in the five 2 leverages his seniority on the boroughs, on Long Island and in Westchester and Putnam House Transportation and counties. The result: added traffic congestion, damage to roads Infrastructure Committee to pry and bridges, air fouled by diesel emissions and higher prices for federal dollars for his pet project. goods. It takes 4.5 tractor-trailers to haul what one railcar does. But the The Port Authority of New York and New only rail links between New Jersey and downstate New York are an Jersey—which answers to the inefficient cross-harbor railcar barge service and a circuitous governors of the two states—would overland route that adds 280 miles and three days to the trip. Rep. construct the tunnel, which would Jerrold Nadler, D-Manhattan, has labored for more than three be nearly six miles long and take a minimum of eight years to build. NJ decades to have a rail-freight tunnel built under New York Harbor Transit is preparing the environmental impact statement for the part of from Jersey City to Brooklyn, and procured federal funds for an Amtrak’s Gateway project that includes the Hudson River tunnel, and environmental study of it that was completed last year. But a says freight service is presently outside the study’s scope. It could be two-track, passenger-rail tunnel to run under the Hudson River into added, though. Complicating matters, various others have a stake in Penn Station as Gateway, including the Metropolitan Transportation Authority, the de Blasio part of Amtrak’s administration and Sen. Charles Schumer, a major proponent and funder. Gateway project, has a surer, faster path to reality, and the Regional Plan Association and YEAH,BUT... others say it could also move freight— The $24 billion Gateway plan is not the only big-ticket perhaps rendering project that would compete with Nadler’s freight tunnel Nadler’s dream 3 for scarce infrastructure funds. Another is the $10 tunnel unnecessary. billion replacement of the Port Authority Bus Terminal. All three projects would require federal financial help and the Port Authority’s chairman, John Degnan, reportedly is skeptical that there will be enough money for a freight-only tunnel costing between $7 billion and $10 billion. Nadler At the Port SOME BACKSTORY cites the potential bottlenecks that freight trains would create if Authority’s they were to run through the Hudson passenger tubes and on to Nadler is fond of noting that at inception in Queens. Nonsense, says William B. Galligan, a former the Port Authority’s inception in railroad executive who—along with Nadler and John F. 4 1921, its chairman 1921, a rail- McHugh, an attorney who has often represented characterized the rail-freight tunnel to freight tunnel to transportation companies and their customers—founded the Brooklyn as “the keystone in the East of Hudson Rail Freight Task Force. “Everywhere in the arch” of the agency’s master plan. Brooklyn was world where there’s a major tunnel on a high-speed But the railroads never backed the deemed the passenger line, freights also run,” said Galligan. (He broke idea and continued to rely on barges keystone of its with Nadler over policy disputes and the task force is now to ferry their cars across the harbor. dormant.) But conflicts between freight and passenger trains As recently as the early 1960s, more master plan are also common, and advocates such as Nadler fear freight than a dozen railroads operated would lose out in an Amtrak-run tunnel. A freight-ready barges here and collectively carried Gateway tunnel would also cost more to build. 100,000 railcars annually. Today, the Port Authority runs the last remaining barge service, which carried slightly more than 2,500 cars last year. A rail- freight tunnel would massively increase capacity and take thousands of long-haul WHAT’S NEXT trucks off the highways. Instead, goods Though out of the House majority for nearly six years, would be offloaded to short-haul Nadler has managed to move his tunnel plan ahead; this month trucks in Maspeth, Queens, where 5 he said a $10.6 million federal grant would help fix the some local opposition to Nadler’s Bay Ridge, Brooklyn, rail yard to be fed by the passageway. His plan has occasionally bubbled up. next goal is funding for a more-detailed study of the tunnel and enhancement of the cross-harbor barge service. (The improved version is seen as a precursor to the tunnel.) But if his beloved tunnel never gets built, more barge crossings would be small consolation for decades of advocacy. BUCK ENNIS, FLICKR, PETER D’AMATO

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AGENDA REAL ESTATE

Judges greenlight Barry Rendering Diller–funded West Side park of proposed Hudson River Appellate court modifies injunction on Pier55 construction BY JOE ANUTA project

panel of win,” said Richard were the entirety of judges ruled Emery, an attorney at the work it had on July 18 Emery Celli Brinckerhoff planned between now that const- & Abady who represents and early September. to get back on track Park Trust spokesman vant, credible expert, Aruction can resume on City Club. “We’re pleased that with our planned con- said in a statement. and we’re confident the Pier55, a 2.7-acre park But the trust noted the court has reversed struction for the sum- “The plaintiffs have yet courts will continue to funded by media that the nine piles its decision, allowing us mer,” a Hudson River to produce a single rele- rule in our favor.” Ⅲ mogul Barry Diller and fashion designer Diane von Furstenberg. Three weeks earlier, on June 30, the same George Chatzopoulos court halted work on OWNER CHIP’S FAMILY RESTAURANT the $130 million West Side park in connection with a lawsuit filed by the City Club of New York, a group that is seeking to stop the project. In a statement, a spokesman for Pier55, a nonprofit started by Diller and von Furstenberg that will help run the park, said, “With the City Club’s latest charade behind us, we will get back to building the new public park that local residents have sought for years.” Serving up The City Club’s lawsuit against the Hudson River Park hospitality. Trust, the entity that governs the park, accused the group of failing to explore the environmental impacts of Pier55 and circumventing Understanding the proper channels for its approval. In April, a state Supreme what’s important. Court judge dismissed the suit, but the City Club appealed and sought an injunction to prevent construction from moving At Chip’s Family Restaurant, they know that offering excellent food and treating customers warmly is the recipe for success. ahead until a ruling And owner George Chatzopoulos appreciates the same level of friendly service from M&T Bank. We helped him grow and had been made. The even financed his food truck – enabling him to take his tasty treats on the road. Our eagerness to help businesses like Chip’s appellate judges ini- is why M&T is a leading SBA lender1 in the country and why we’ve been recognized by Greenwich Associates for excellence tially granted that injunction but modi- in small business banking.2 To learn how M&T can help your business, visit mtb.com/businessbanking. fied the ruling in July to allow the trust to begin driving the first nine piles of the park ahead of a Sept. 6 court date. “It doesn’t mean very much, in my LENDING SOLUTIONS | MERCHANT SERVICES | TREASURY MANAGEMENT | DEPOSITORY SERVICES view, because it limits the entire matter to Equal Housing Lender. 1According to statistics released by the U.S. Small Business Administration (SBA) for total approved loans through the SBA’s 7(a) lending program during the federal fiscal year ending 9/30/2015. nine piles, and they 2Based on the 2015 Greenwich Excellence Awards in Small Business Banking. can easily be removed ©2016 M&T Bank. Member FDIC.

HEATHERWICK STUDIO shortly thereafter if we

JULY 25, 2016 | CRAIN’S NEW YORK BUSINESS | 9 20160725-NEWS--0010-NAT-CCI-CN_-- 7/22/2016 3:07 PM Page 1

AGENDA VIEWPOINTS

NY Democrats need more than Clinton to oust GOP from power Trump’s coattails may be enough for state’s Republicans to hold on

DONALD TRUMP has not HILLARY’S NO BARACK put New York in play in the presidential race. OBAMA CLINTON But Hillary Clinton is a 7/2012 7/2016 much weaker candidate Democrats 86% 82% than Barack Obama Republicans 14% 9% was, and the likely Independents 51% 41% result is that the state Men 51% 40% GREG DAVID GOP remains standing after an election that Women 59% 54% could have reduced it to irrelevance. *Source: Quinnipiac polls of NYS voters Thank Trump’s appeal to white men and Clinton’s weakness with independents for this state of affairs. suburbs. Those areas are crucial for the A July 19 Quinnipiac poll of New York swing congressional races and for control voters seemed to show Clinton with a big of the state Senate. (Quinnipiac did not edge, 47% to 35%. As impressive as that do a geographic breakout four years ago.) sounds, exactly four years ago With Obama at the head of their Quinnipiac showed President Obama ticket in 2008, Democrats nearly swept leading Mitt Romney 55% to 21%. The the House races in New York, winning 26 difference is obvious from the verbs used seats and losing only three. After strong by Quinnipiac: In 2012, Obama “buried” showings in off-year elections, PROMOTE. Romney. Now, Clinton “leads” Trump. Republicans now hold nine seats, and Why not? Obama wound up with 63% of the Democrats believe many of those dis- actual vote, the same percentage he got tricts will be competitive this fall. For more information contact Krista Bora, Reprint Account Executive in 2008 and the best of any Democratic Unfortunately, they are primarily far [email protected] • tel 212.210.0750 candidate in more than three decades. upstate and in the Hudson Valley, where Clinton may not even reach the average Clinton is least popular. If Trump can 58% that Democratic presidential candi- match Clinton on Long Island, those dates have won in New York since 1988. swing districts will stay Republican too. Worse for Democrats, Clinton’s vic- The same pattern will affect races for 񡑒񡑡񡑧񡑗񡑖񡑀񡑥񡑘񡑀񡑉񡑧񡑡񡑱񡑗񡑄񡑈 񡑀 tory will be almost entirely attributable state Senate, the Republicans’ remaining to New York City. As the chart shows, governmental bastion. Three of the seats 񡑐񡑣񡑗񡑱񡑓񡑩񡑥񡑧񡑀񡑑񡑓񡑡񡑤񡑩񡑗񡑤񡑓񡑤񡑕񡑗񡑇 Trump leads her upstate in the targeted by the Democrats are on Long Quinnipiac poll and is competitive in the Island, and the rest are upstate. Clinton may well wind 񡑑񡑒񡑣񡑣񡑒 񡑓񡑖 񡑕񡑤񡑣񡑖 CLINTON VS. TRUMP BY REGION up being president, but at 񡑱񡑠񡑨񡑙 񡑨񡑙񡑤񡑧񡑖 񡑘񡑩񡑧 the moment she doesn’t 񡑱񡑙񡑤 񡑦񡑒񡑦񡑖񡑡 Neither/ appear likely to have suffi- Clinton Trump Undecided Won’t vote cient coattails to help her 񡑧񡑙񡑤񡑱 񡑩񡑥񡑃 Upstate 36% 48% 9% 7% party in New York. Ⅲ 񡑕񡑤 񡑒񡑧 񡑡񡑠񡑨񡑨񡑡񡑖 Suburbs 39% 40% 13% 8% NYC 63% 20% 6% 10% GREG DAVID blogs regularly 񡑒񡑧 񡑥񡑤񡑧񡑧񡑠񡑓񡑡񡑖񡑃 at CrainsNewYork.com. 񡑒񡑣񡑕 񡑢񡑤񡑰񡑖 񡑤񡑣񡑄

񡑒񡑠񡑗񡑤񡑀񡑩񡑧 񡑀񡑉񡑂񡑉񡑀񡑐񡑣񡑗񡑱񡑓񡑩񡑥񡑧񡑀񡑑񡑓񡑡񡑤񡑩񡑗񡑤񡑓񡑤񡑕񡑗񡑃񡑀񡑔񡑓񡑕񡑢񡑗񡑖񡑀񡑔 񡑀 Cuomo’s TV ads will not work 񡑅񡑆񡑀 񡑗񡑓񡑧񡑨񡑀񡑥񡑘񡑀񡑦񡑧񡑥񡑱񡑗񡑤񡑀񡑡񡑤񡑖񡑰񡑨񡑩񡑧 񡑄񡑣񡑗񡑓񡑖񡑡񡑤񡑙񡑀񡑨񡑗񡑧񡑱񡑡񡑕񡑗񡑁 After reading “Just getting started” Florida does not have a top academic 񡑒%񡑀񡑗񡑨񡑧!񡑱񡑕 !񡑃񡑀񡑔񡑂񡑔񡑀񡑣 񡑀񡑕񡑥∃񡑕% 񡑀!񡑢񡑙񡑱񡑙񡑀񡑠񡑨񡑱񡑀%񡑨∀񡑃񡑀∃񡑣!񡑢񡑀 񡑗񡑢񡑙񡑘∀񡑥񡑙񡑘񡑀񡑙񡑱#񡑣񡑗񡑙񡑃 (July 11), about Start-Up NY, I didn’t university, so we depend on importing 񡑨񡑩񡑙񡑧񡑀񡑗񡑨񡑦񡑦∀񡑧񡑣񡑗񡑕!񡑣񡑨񡑧񡑀񡑕񡑧񡑘񡑀񡑰∀񡑣񡑗񡑤񡑀񡑱񡑙 񡑩񡑨񡑧 񡑙񡑀∃񡑢񡑙񡑧񡑀!񡑢񡑙񡑱񡑙∋񡑀񡑕񡑀񡑩񡑱񡑨񡑖񡑥񡑙񡑦񡑅 know whether to laugh or cry. talent, but talent seems willing to come. I moved my business to Florida from What is the allure of the red tape of 񡑔񡑂񡑔∋ 񡑀񡑦񡑕񡑣񡑧!񡑙񡑧񡑕񡑧񡑗񡑙񡑀񡑩񡑱񡑨񡑡񡑱񡑕񡑦 񡑃񡑀񡑩񡑱񡑨񡑕񡑗!񡑣#񡑙񡑀 񡑨񡑥∀!񡑣񡑨񡑧񡑃񡑀 New York two years ago. The Start-Up the Start-Up program, the temporary 񡑢񡑣񡑡񡑢񡑥%񡑄!񡑱񡑕񡑣񡑧񡑙񡑘񡑀!񡑙񡑗񡑢񡑧񡑣񡑗񡑣񡑕񡑧 񡑀񡑕񡑧񡑘񡑀#񡑕񡑥∀񡑙񡑀񡑩񡑱񡑣񡑗񡑣񡑧񡑡񡑀񡑦񡑙񡑕񡑧񡑀!񡑢񡑙 ∀񡑥!񡑣񡑦񡑕!񡑙񡑀񡑣񡑧񡑀 񡑙񡑱#񡑣񡑗񡑙񡑀񡑕񡑧񡑘񡑀񡑩񡑙񡑕񡑗񡑙񡑄񡑨񡑠񡑄񡑦񡑣񡑧񡑘񡑅 ads run regularly on TV down here tax breaks and an environment where (especially on CNBC). Here in South government employees and private- 񡑆񡑠񡑧񡑔񡑤񡑰񡑖񡑦񡑀񡑨񡑙񡑖񡑀񡑆񡑂񡑆񡑀񡑇񡑡񡑖񡑰񡑒񡑨񡑤񡑦񡑀񡑕񡑠񡑗񡑗񡑖񡑦񡑖񡑣񡑔񡑖񡑁񡑀 Florida I’d estimate that more than 20% sector union workers create unneces- 񡑓񡑨񡑧!񡑕񡑗!񡑀∀ 񡑀񡑠񡑨񡑱񡑀񡑕񡑀񡑠񡑱񡑙񡑙񡑃񡑀񡑧񡑨񡑄񡑨񡑖񡑥񡑣񡑡񡑕!񡑣񡑨񡑧񡑀񡑦񡑕񡑣񡑧!񡑙񡑧񡑕񡑧񡑗񡑙񡑀񡑙#񡑕񡑥∀񡑕!񡑣񡑨񡑧񡑁 of the population over age 35 is from the sary and perhaps unsustainable costs? NY Metro area, so we all get it. The I voted with my feet and kept the commercials give us all a big laugh. Why lion’s share of my New York clientele, would any business here consider mov- who (with the magic of technology) ing to New York? We have no income couldn’t care less where I am. Someone tax, much lower sales and property should tell the governor he is wasting taxes, much more reasonable overall taxpayer funds advertising down here. 񡑐񡑆񡑈񡑅񡑇񡑈񡑉񡑅񡑈񡑇񡑈񡑈񡑀&񡑀∃∃∃񡑅񡑘񡑘񡑙񡑥񡑙#񡑕!񡑨񡑱񡑅񡑗񡑨񡑦񡑀&񡑀񡑣񡑧񡑠񡑨񡑑񡑘񡑘񡑙񡑥񡑙#񡑕!񡑨񡑱񡑅񡑗񡑨񡑦 business and personal living costs and MICHAEL ROSS way less red tape and overregulation. PRESIDENT, FINANCIAL CONNECTION 񡑈񡑒񡑠񡑣񡑨񡑖񡑣񡑒񡑣񡑔񡑖񡑀񡑂񡑀񡑐񡑖񡑥񡑒񡑠񡑦񡑀∀񡑀񡑈񡑤񡑕񡑖񡑦񡑣񡑠!񡑒񡑨񡑠񡑤񡑣񡑀∀񡑀񡑅񡑤񡑕񡑖񡑀񡑅񡑤񡑢񡑥񡑡񡑠񡑒񡑣񡑔񡑖񡑀∀񡑀񡑉񡑖񡑱񡑀񡑅񡑤񡑣񡑧񡑨񡑦񡑩񡑔񡑨񡑠񡑤񡑣 There are some challenges here— BOCA RATON, FLA.

10 | CRAIN’S NEW YORK BUSINESS | JULY 25, 2016 ON TOP OF MANHATTAN REAL ESTATE. MID-YEAR. ALL YEAR.

CBRE continues to lead the way in deal-making, with 8 of the top 10 deals and 25 of the top 50 at mid-year 2016—proof positive of the advantage we consistently deliver for our clients. 20160725-NEWS--0012-NAT-CCI-CN_-- 7/21/2016 7:46 PM Page 1

AGENDA THE LIST COSTAR’S TOP MANHATTAN OFFICE LEASES Biggest transactions in the first half of 2016, ranked by square feet

TENANT LANDLORD(S)/ LANDLORD/ ADDRESS SQUARE FEET TENANT REPRESENTATIVE(S) SUBLANDLORD(S) SUBLANDLORD REPRESENTATIVE(S) SUBMARKET

1 55 Water St.1 900,027 McGraw Hill Financial Inc. CBRE Retirement Systems of Alabama CBRE Financial district 2 1285 Sixth Ave.1 890,861 UBS Group CBRE RXR Realty; China Life Insurance RXR Realty Columbus Circle Group; David Werner Real Estate 3 222 E. 41st St.2 376,765 NYU Langone Medical Center Cushman & Wakefield Columbia Property Trust CBRE Grand Central 4 57 11th Ave.2 263,835 Google CBRE Port Authority of NY & NJ RXR Realty Chelsea 5 90 Park Ave.2 241,196 PwC CBRE Vornado Realty Trust Vornado Realty Trust Grand Central 6 425 Park Ave.2 211,400 Citadel Investment Group CBRE L&L Holding Co.; CBRE Plaza district GreenOak Real Estate 7 399 Park Ave.3 210,934 C.V. Starr & Co. Inc. Cushman & Wakefield Boston Properties CBRE Plaza district 8 1095 Sixth Ave.2 210,496 Salesforce.com Inc. Cushman & Wakefield Ivanhoe Cambridge; Callahan Cushman & Wakefield; Garment district Capital Properties; MetLife 9 225 & 233 Park Ave. South 4 200,668 Facebook Inc. Wixen Real Estate Inc.; Orda Management; TF Cornerstone Newmark Grubb Gramercy Park Colliers International Knight Frank 10 1166 Sixth Ave.1 195,375 D. E. Shaw & Co. CBRE RXR Realty; Blackstone Group JLL Times Square 11 731 Lexington Ave.1 191,789 Bloomberg LP CBRE Alexander’s; Vornado Realty Trust Vornado Realty Trust Plaza district 12 11 Madison Ave.1 186,396 Credit Suisse AG CBRE SL Green Realty Corp. SL Green Realty Corp. Gramercy Park 13 375 Pearl St.2 182,750 New York City Department of Cushman & Wakefield Intergate Manhattan CBRE City Hall Citywide Administrative Services 14 220 E. 42nd St.1 179,303 Omnicom Group Inc. Feld Real Estate SL Green Realty Corp. SL Green Realty Corp.; Grand Central Cushman & Wakefield 15 162 Fifth Ave.2 137,737 Simon’s Foundation Cushman & Wakefield ABS Partners Real Estate ABS Partners Real Estate Chelsea 16 75 Rockefeller Plaza2 125,000 Merrill Lynch Wealth CBRE RXR Realty Cushman & Wakefield; Plaza district Management Walton Street Capital 17 299 Park Ave.1 124,069 UBS Group CBRE Fisher Brothers Management Co. Fisher Brothers Management Co. Plaza district 18 90 Park Ave.1 122,525 Alston Bird CBRE Vornado Realty Trust Vornado Realty Trust Grand Central 19 420 Lexington Ave.3 114,709 New York Life Insurance Co. JLL SL Green Realty Corp. SL Green Realty Corp. Grand Central 20 350 Fifth Ave.3 108,937 Shutterstock Inc. Newmark Grubb Empire State Realty Trust Empire State Realty Trust Garment district Knight Frank 21 100 Park Ave.1 103,803 Wells Fargo Capital Finance Direct deal SL Green Realty Corp.; SL Green Realty Corp.; Grand Central PGIM Real Estate Cushman & Wakefield 22 575 Madison Ave.2 97,668 Douglas Elliman Realty Douglas Elliman Steinberg & Pokoik Steinberg & Pokoik Plaza district Commercial; Newmark Management Corp. Management Corp. Grubb Knight Frank 23 55 Water St.2 97,228 QBE North America JLL Retirement Systems of Alabama Cushman & Wakefield Financial district 24 10 Astor Place1 81,737 New York University Newmark Grubb Newmark Holdings Newmark Grubb Greenwich Village Knight Frank Knight Frank 25 770 Broadway 4 79,735 Facebook Inc. Wixen Real Estate Inc.; Vornado Realty Trust Vornado Realty Trust Greenwich Village Colliers International 26 770 Broadway 4 79,211 AOL Inc. JLL Vornado Realty Trust Vornado Realty Trust Greenwich Village 27 7 Bryant Park 2 73,796 Schroder Investment CBRE Bank of China CBRE Garment district Management North America 28 711 Third Ave.2 71,239 Media Assembly CBRE SL Green Realty Corp. SL Green Realty Corp. Grand Central 29 50 W. 23rd St.2 70,140 Grovo Learning Colliers International Two Trees Management Co. Two Trees Management Co. Chelsea 30 4 World Trade Center 2 68,673 Hudson River Trading CBRE Silverstein Properties Inc. CBRE Financial district 31 10 Hudson Yards2 67,058 Intersection and Sidewalk Labs CBRE Related Cos. Related Cos.; CBRE Garment district 32 400 W. 33rd St.2 66,784 Skadden Arps Slate Meagher & Flom JLL Brookfield Office Properties Inc. Cushman & Wakefield Garment district 33 101 Park Ave.2 66,231 Federal Home Loan Bank CBRE HJ Kalikow & Co. Cushman & Wakefield Grand Central of New York 34 450 Lexington Ave.2 61,620 WeWork CBRE RXR Realty CBRE Grand Central 35 85 10th Ave.1 59,900 Level 3 Communications JLL Vornado Realty Trust; Vornado Realty Trust; Chelsea Related Cos. Related Cos. 36 1633 Broadway2 58,656 Bleacher Report CBRE Paramount Group Inc. CBRE Columbus Circle 37 135 E. 57th St.2 57,049 WeWork Savitt Partners Cohen Brothers Realty Corp. Cohen Brothers Realty Corp. Plaza district 38 315 Hudson St.2 54,950 Galvanize Inc. Newmark Grubb Jack Resnick & Sons Inc. Jack Resnick & Sons Inc. SoHo Knight Frank 39 5 Bryant Park2 54,782 Movable Ink Savills Studley Blackstone Group; Newmark Grubb Garment district Equity Office Properties Knight Frank 40 5 Bryant Park 1 53,000 CBIZ Cushman & Wakefield Blackstone Group; Newmark Grubb Garment district Equity Office Properties Knight Frank 41 304-328 W. 34th St.1 52,959 Music Choice CBRE SL Green Realty Corp. SL Green Realty Corp. Garment district 42 1633 Broadway 2 52,555 Vedder Price Savills Studley Paramount Group Inc. Paramount Group Inc. Columbus Circle 43 28 W. 44th St.1 51,623 City University of New York Savills Studley APF Properties Cushman & Wakefield Times Square 44 140 Broadway 2 50,604 Paradigm Entertainment CBRE Union Investment Real Estate Cushman & Wakefield Financial district 45 2 Park Ave.2 49,694 The Trade Desk CBRE Morgan Stanley & Co. CBRE Murray Hill 46 1411 Broadway 2 49,690 PostWorks NY/Orbit Digital Savitt Partners Ivanhoe Cambridge; Nine West JLL Garment district 47 277 Park Ave.2 49,236 Russell Reynolds Associates Colliers International Stahl Real Estate Co. Cushman & Wakefield Plaza district 48 1115 Broadway 2 48,010 Taboola Inc. CBRE Harvey Marx Adams & Co. Real Estate Chelsea 49 1700 Broadway 2 47,394 Cardiovascular Research Foundation Savills Studley Ruben Cos. Newmark Grubb Knight Frank Columbus Circle 50 75 Broad St.1 46,936 Internap Corp. Cushman & Wakefield Helm Equities Cushman & Wakefield Financial district This list includes leases with terms of more than two years. 1-Renewal. 2-New. 3-Renewal and expansion. 4-Expansion. CoStar Group Inc., a provider of information services to the commercial real estate industry and related businesses, conducts ongoing, extensive research to produce and maintain the largest and most comprehensive database of commercial real estate information. For more information, visit costar.com or call (800) 204-5960. Additional research by Gerald Schifman.

12 | CRAIN’S NEW YORK BUSINESS | JULY 25, 2016 CUSHMAN & WAKEFIELD. BUILT TO LEAD.

Cushman & Wakeﬁ eld is a leader in the global real estate marketplace, delivering value to our clients in New York and around the world.

With over 43,000 employees in over 60 countries.

4.3 billion square feet of space under management.

$191 billion in transactions.

$5 billion in revenues.

Built to help clients reach their full potential.

cushmanwakeﬁ eld.com 20160725-NEWS--0014-NAT-CCI-CN_-- 7/21/2016 7:46 PM Page 1

AGENDA THE LIST REAL CAPITAL ANALYTICS’ TOP PROPERTY SALES Biggest commercial transactions in New York City in the first half of 2016, ranked by price

SQ. FT. OR ADDRESS/ NO. OF UNITS/ TOP FOUR PROPERTY TYPE/ TRANSACTION PRICE PRICE PER INTEREST 100% VALUE CLOSE SUBMARKET (IN MILLIONS)1 SQ. FT. OR UNIT CONVEYED2 (IN MILLIONS) DATE BUYERS SELLERS SALES 787 Seventh Ave. $1,941 1,706,007 100% $1,941 1/27 CalPERS/ AXA Group 1 Office $1,138 CommonWealth Partners Midtown west 388-390 Greenwich St. (Citigroup) $1,764 2,634,670 100% $1,764 6/10 Citigroup SL Green Realty Corp. 2 Office $670 TriBeCa 1285 Sixth Ave. (PaineWebber Building) $1,650 1,749,000 100% $1,650 5/20 RXR Realty/ AXA Group/ 3 Office $943 David Werner Real Estate JPMorgan Chase Midtown west 550 Madison Ave. $1,400 852,830 100% $1,400 5/26 Olayan Group/ Chetrit Group/ 4 Office $1,642 Chelsfield Clipper Equity Midtown east 1211 Sixth Ave. (News Corp. Building) $858 1,937,895 49% $1,750 6/15 Callahan Capital Beacon Capital Partners 5 Office $903 Partners on behalf of Midtown west Caisse de Dépôt NO. 1 5 Times Square $800 1,132,865 50% $1,600 1/31 RXR Realty David Werner Real Estate 6 Office $1,412 787 Seventh Ave. Midtown west PRICE PER SQ. FT. 1 Water St. (1 New York Plaza) $700 2,545,000 49% $1,429 5/23 China Investment Corp. Brookfield Asset $1,138 7 Office $561 Management Financial district 693 Fifth Ave. $527 101,000 100% $527 6/10 Fimalac Thor Equities 8 Office $5,218 Midtown east 850 Third Ave. $463 613,664 100% $463 3/17 MHP Real Estate Services/ Shorenstein Properties 9 Office $754 HNA Group Midtown east 432 Park Ave. (retail condo) $411 74,816 100% $411 6/20 Macklowe Properties/ CIM Group 10 Retail $5,495 QInvest Midtown east 420 E. 54th St. (Rivertower at Sutton Place)$390 323 100% $390 1/28 GreenOak/ Equity Residential 11 Apartment $1,207,430 Slate Property Group Midtown east 80 South St. $390 14,718 100% $390 3/16 China Oceanwide Howard Hughes Corp. 11 Development site $26,498 Holdings Financial district NO. 2 144 E. 48th St. (The Buchanan) $270 289 100% $270 3/3 Madison Realty Capital/ David Tausik/ 388-390 Greenwich St. 13 Apartment $934,256 USAA Real Estate Cotswold Group Midtown east PRICE PER SQ. FT. 7 W. 34th St. $264 477,000 47% $561 6/2 Korea Post Vornado Realty Trust $670 14 Office $1,176 Midtown west 405 Park Ave. $238 156,614 100% $238 5/2 Deutsche Asset & Wealth Donerail Corp. 15 Office $1,518 Management - U.S./ Midtown east MRP Realty 2 Rector St. $221 440,000 100% $221 3/21 Bentall Kennedy on CIM Group/Kushner Cos. 16 Office $502 behalf of MEPT Financial district 160 W. 24th St. (The Chelsea) $211 204 100% $211 2/19 Greystar Real Estate LaSalle Investment 17 Apartment $1,035,539 Partners Chelsea 550 W. 37th St. $207 57,376 100% $207 3/9 Tishman Speyer Imperatore family/ 18 Development site $3,616 Chiaia family Midtown west 125 Broad St. (office condo) $202 524,500 100% $202 4/26 Sullivan & Cromwell Mack-Cali 19 Office $385 Financial district NO. 3 2156 Madison Ave. (Riverton Houses) $201 1,228 100% $201 1/5 A&E Real Estate/ CWCapital on behalf 1285 Sixth Ave. 20 Apartment $163,620 Harvard Management Co. of CMBS investors Harlem PRICE PER SQ. FT. $943 29-33 Beekman St. (Pace University) $196 385 100% $196 5/5 Pace University/ Naftali Group/ 21 Apartment $509,091 Rami Ungar SL Green Realty Corp. Financial district 1140 Sixth Ave. $180 250,000 100% $180 6/15 American Realty Capital Blackstone Group 22 Office $720 New York City REIT Midtown west 24 State St. (1 Battery Park Plaza) $179 885,645 49% $365 6/15 Allianz Rudin Organization 23 Office $412 Financial district 377 E. 33rd St. (Avalon Kips Bay) $173 209 100% $173 2/5 Dermot Co./SPI Holdings AvalonBay 24 Apartment $827,751 Midtown east 11 Howard St. $170 221 100% $170 4/14 Commerz Real RFR Realty 25 Hotel $769,231 SoHo 422 Fulton St. (office condo) $170 378,000 100% $170 1/18 Tishman Speyer Macy’s 25 Office $450 NO. 4 Downtown Brooklyn 1-List does not include sales for which no price was made public. 2-Partial-interest transactions included at the prorated share of the 100% property value. n/a-Not available. In case of a tie 550 Madison Ave. in the transaction price, sales are listed in numerical order of address. Real Capital Analytics Inc. is an independent research firm focused exclusively on capital investment markets for commercial real estate. RCA offers a comprehensive data service that contains transactional information for property in New York City and around the world. The firm also publishes a series of PRICE PER SQ. FT.

COSTAR, BUCK ENNIS “Capital Trends” reports that aggregate sales volume and pricing trend data for the real estate industry. Visit rcanalytics.com. Additional research by Gerald Schifman. $1,642

14 | CRAIN’S NEW YORK BUSINESS | JULY 25, 2016 The William Kaufman Organization and The Travelers Companies, Inc. represented by Sage Realty Corp. and JLL would like to welcome and thank the following tenants and their brokers.

WIGGIN AND DANA, LLP Leased 15,616 RSF on the 35th floor Michael Goldman, Matthew Barlow and Daniel Posy, Savills Studley

OSPRAIE MANAGEMENT, LLC Leased 7,973 RSF on the 28th floor Brad Needleman and Alexander Golod, CBRE

HARBOR SPRING CAPITAL, LLC Leased 7,575 RSF on the 28th floor Evan Margolin and Lance Leighton, Savills Studley

KENNER & COMPANY, INC Renewed 5,639 RSF on the 36th floor

HT CAPITAL ADVISORS, LLC Leased 4,092 RSF on the 19th floor

VERTICAL CAPITAL, LLC Leased 3,592 RSF on the 19th floor Scott M. Bloom, Bloom Real Estate Group, LLC

DARKTRACE LIMITED Leased 3,807 RSF on the 32nd Floor Daniel Posy and Jason Roberts, Savills Studley

GPI CAPITAL, LP Leased 3,102 RSF on the 28th Floor Stephen Gordon and Jon Zuckerman, NGKF

SONOMA CAPITAL MANAGEMENT Leased 2,893 RSF on the 34th floor John Nugent and Michael Hirsch, CBRE

Michael Lenchner of Sage Realty along with Frank Doyle, Cynthia Wasserberger, David Kleiner, Hayley Shoener and Harlan Webster of JLL represented the landlord.

ELEGANT TOWER FLOOR PRE-BUILTS RANGING IN SIZE FROM 3,468 - 6,402 RSF AVAILABLE PARTIAL AND FULL FLOOR BUILD-TO-SUIT OPPORTUNITIES AVAILABLE

Michael Lenchner (212) 755-5151 [email protected]

David Kleiner (212) 812-5954 THE NEW STANDARD OF [email protected] Frank Doyle Hayley Shoener (212) 812-5759 (212) 812-6535 OFFICE SOPHISTICATION [email protected] [email protected]

Cynthia Wasserberger Harlan Webster (212) 812-5816 (212) 812-5889 437madisonave.com [email protected] [email protected] 20160725-NEWS--0016,0017-NAT-CCI-CN_-- 7/22/2016 11:01 AM Page 1

SMALL BUSINESS | DEATH CARE

GRAVE SITUATION Once seen as recession-proof, the funeral industry nears death’s door— except for owners willing to adapt to changing customs and customers

BY HILARY POTKEWITZ

fter 40 years of working in Williamsburg, Keith Senko thought he’d heard and seen it all. He grew up in the family business, Senko Funeral Home, founded in 1928 on Bedford Avenue. He’d seen the neighborhood transform as Polish and Hispanic families gave way to rebel artists, hip- ster hordes and, now, creative yuppies. Bookings for Catholic wakes went down; requests for alternative ceremonies went up. “I’ve done every kind of funeral under the sun: Wiccan, Apache, Blackfoot, AHindu, Buddhist—you name it,” said Senko, 58. But a couple of years ago, he got a call that surprised him. “They wanted to ‘check out’ our venue—I’d never heard that before,” he said. The caller said the deceased, a lifelong Manhattan resident, had been “extremely hip,” so the funeral needed to be as well. “It had to be in Williamsburg, they said, because it had to be ‘on the cutting edge.’ That was a new one,” Senko recalled. “I told them we’ve been on the cutting edge for a hundred years.” If Williamsburg were to become a hot funeral destination, Senko would be a chief beneficiary: He has the neighborhood’s last funeral parlor north of the Williamsburg Bridge. One by one, his competitors closed: Blizinzki Funeral Home on Metropolitan Avenue, Abramo’s on Humboldt Avenue, Polakas on Berry Street, Matthew Ballas on Grand Street and others since the 1990s. A similar pattern has been playing out across the city. Over two decades, hundreds of funeral homes have shuttered, many of them multigeneration family businesses— neighborhood mainstays who could be counted on to remember old-timers’ nick- names or provide a steady presence to the grieving. “It’s unbelievable what’s happened,” said Robert Ruggiero, executive director of BUCK ENNIS

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PAT MARMO (RIGHT) with Awad Elsayed Elmatbagi, who handles Muslim arrangements for Marmo in Sunset Park. the Metropolitan Funeral Directors Association, a local trade group. When he took office in 1990, the organization’s directory listed 841 funeral homes. Last year, his mailing list was down to 473, a 44% drop. Ruggiero’s numbers reflect the city’s: Just 475 licensed funeral parlors were operating here in 2015, according to the state’s Department of Health. Funeral homes are no longer recession- proof. The new challenge for funeral directors is figuring out how to serve changing customer needs and still make money. The usual suspects Why is death a dying business? Observers cite the familiar and oft-blamed culprit of gen- Business Revival trification, which drives up real estate prices until a funeral home’s property is more valuable EMBRACING GLOBAL CUSTOMS than its business. Some recent examples: the 2014 sales of Michael Cosgrove & Son funeral PAT MARMO, owner of Daniel J. Schaefer Funeral Home in Sunset Park, knew his traditional base of home (established 1912) in Sunset Park for $2.125 Irish and Scandinavian customers was leaving the area, but he didn’t panic. “Those apartments are million and Dominic J. Cusimano Court Street still here, and all the people moving in are eventually going to need funeral homes, right?” he said. Funeral Home (established 1946) in Cobble Hill The 45-year-old observed the influx of immigrants and started trying to figure out how to make for $4.55 million. Last year, Ray Smith Funeral inroads. “You have to evolve with the neighborhood,” he said. “You gotta embrace diversity.” Home in Prospect Heights sold for $2.35 million A growing Mexican population was served by Ortiz Funeral Home, a successful chain of about a and Marion Daniels & Sons in Harlem for $3 mil- dozen homes throughout the Bronx, Manhattan and Brooklyn that caters to Hispanic families. lion. Most were sold to developers and will Marmo took note and started offering services in Spanish. He focused as well on families immi- become new residential and retail buildings. grating from the Middle East, South Asia and Africa. He learned about Hindu funeral rites. About “Funeral homes are good for redevelopment eight years ago, he started studying Islamic funeral customs and hired employees with relevant and mixed use,” said Aaron Warkov, a real experience. He built an annex for Muslim arrangements and established a subsidiary, Islamic estate broker with Cushman & Wakefield who International Funeral Services. took an interest in funeral homes about three He also forged relationships with various consulates to help grieving families repatriate remains to years ago. He calls about a dozen funeral direc- a home country. Such arrangements are now a substantial part of his business. tors periodically to test the waters. “They’re “It’s become our forte, knowing what the embassies expect,” he said. He recently guided a family waiting to see if their nephews want to take through the process of sending a relative’s body back to Benin for burial. “They said they called a lot of over the business, or their grandson,” he said. people [before us] and no one gave them good answers—some people had never heard of Benin. I even He’s sold two funeral homes in Brooklyn so far. knew what airline they’d want to use.” Unlike entrepreneurs who thrive on selling their companies and starting new ones, funeral- home owners are often reluctant sellers. Brooklyn parlor after years of dwindling busi- phenomenal. But let’s just say it’s not exactly “It’s a really painful decision for them,” said ness. “It’s good for Chinese funeral homes, I funeral-industry-friendly.” Melissa Drake, president and COO of American guess.” Cosgrove said he still arranges funerals More often than not, the vacated property is Funeral Consultants, which does business upon request. snatched up by young professionals or a young appraisals and sales of funeral homes. “But if Underlying all these pressures—the real family, creating pockets of the city where senior- you’re sitting on a property worth $5 million and estate boom, the rise in cremations, the chang- citizen sightings are rare. It has affected not just you’re only doing 100 funerals a year, and your ing neighborhoods—something more funda- funeral homes but ancillary businesses too. kids aren’t interested in the business and you mental is buffeting the industry: New Yorkers “I don’t want to sound like a miserable tomb- need to think about retirement ... it’s hard.” just aren’t dying like they used to. New York stone guy, but I look around Park Slope, and the Eye-popping price tags tell only part of the City’s death rate has plummeted over the past average age is, like, 36 years old,” said Michael story. Funeral homes have been closing in less 25 years, even as the population has grown by Cassara of Supreme Memorials, a local stone- trendy neighborhoods too. “It’s not one thing; 1.2 million. The carver specializ- everything’s changing,” Ruggiero said. 53,000 deaths “THANK GOD FOR MEDICAL ing in head- The death-care industry is going through recorded in the stones, monu- major shifts nationwide as customs evolve. city in 2014 TECHNOLOGY ... BUT LET’S ments and mau- Families are more spread out, so multiday wakes were down from soleums. Refer- are less common. Cremation, which costs half 76,000 in 1989. JUST SAY IT’S NOT EXACTLY rals from funeral what traditional services do, is becoming more That’s a 30% FUNERAL-INDUSTRY-FRIENDLY” homes used to popular. Consolidation by large conglomerates— drop in potential provide a signifi- Service Corp. International operates 36 funeral customers. cant amount of homes in the five boroughs—has further pres- The steepest drops have been in deaths from his business. “You can feel the death rate is way sured independent operators. heart disease and cancer. “They’re the two down,” he said. Funeral homes are still largely family enter- biggest killers in the city, and we’ve seen nice Life expectancy in the city recently hit an all- prises, and many of the youngest generation are declines,” said Gretchen Van Wye, assistant com- time high of nearly 81 years of age. The gains for choosing not to undertake the job. missioner of the city’s Bureau of Vital Statistics. older city residents are especially striking, as “You’re basically on call 24 hours a day. Beta blockers, stents and statins have helped those reaching 70 can expect to live 17 more years. People don’t die on schedule,” said business reduce premature deaths from heart attacks by For more than a decade, industry analysts adviser David Nixon, whose firm, Nixon 30% over a decade. Better cancer treatment and have been predicting a surge in the death rate as Consulting, specializes in funeral homes. “They the city’s aggressive antismoking measures baby boomers start to pass away. It hasn’t hap- saw their parents always missing family events have cut cancer deaths; HIV/AIDS dropped out pened. “I had customers in here the other day because they got a call they had to go take care of the top 10 leading causes of death in 2012. making arrangements for a 96-year-old of, and they just said no to the lifestyle.” “Thank God for medical technology,” said woman. They were her three daughters, and the In New York, many funeral homes have sim- Joe Aievoli, owner of four funeral homes in youngest one was 70,” said John Heyer II, co- ply outlived their established customer bases. Brooklyn. “I am the biggest supporter, believe owner of Scotto Funeral Home in Carroll “We handled mostly Irish and Norwegian me. A 72-year-old gets a double bypass and he’s Gardens. “We’re seeing more of that.” At 33 funerals, but now the neighborhood is mostly like a new man. He picks up and sells his row years old, he’s part of a small cohort of young Chinese,” said Michael Cosgrove, a third- house in Brooklyn or the Bronx and moves to funeral directors staying in the family business,

BUCK ENNIS generation mortician who sold his eponymous South Carolina and lives another 25 years! It’s CONTINUED ON PAGE 18

JULY 25, 2016 | CRAIN’S NEW YORK BUSINESS | 17 20160725-NEWS--0018,0019-NAT-CCI-CN_-- 7/22/2016 11:02 AM Page 1

Business Revival having purchased the funeral home from his father-in-law, Buddy Scotto, now 87. SEEING THE SIGNS The surge is still expected over the next 10 OF CHANGE years. Indeed, the number of deaths in 2014—the most recent data available—was slightly higher than in 2012. But if it’s the beginning of a trend, IN 2001, JOE AIEVOLI PUT UP A SMALL SIGN it is too late for the many funeral directors hit- in Chinese on the Aievoli Funeral Home in Dyker Heights, which had been serving the ting retirement age. “I’m young enough that I’ll area’s largely Italian Catholic population since still be able to catch it,” Heyer said. 1900. “People thought he was insane. They For most funeral homes, cremations are what’s said he was going to alienate his other cus- upending their business model. In the U.S., the tomers,” recalled Pat Marmo, owner of Daniel median price of a funeral (including the service, J. Schaefer Funeral Home, who considers FORESIGHT AND casket, embalming, wake, transportation and Aievoli a mentor. SERENDIPITY allowed burial) is about $8,500, according to the National Aievoli, a fourth-generation funeral director, Joe Aievoli to keep the flame burning at his Funeral Directors Association (NFDA). But New ignored the criticism. “Just from walking Dyker Heights parlor. York City funerals can easily surpass that, espe- around the neighborhood, I could tell that’s cially because burial plots and mausoleum prices where it was going to go,” he recalled, referring have soared—much as other real estate has. to the nearby swath of southern Brooklyn that has since become the borough’s Chinatown. He started by approaching local Asian merchants, asking if they had experience with Chinese funerals. Burial space running short The florists he visited turned out to be Korean, “so that didn’t work,” he recalled. At Green-Wood Cemetery, the largest in But one day Peter Zhao walked into Aievoli’s funeral parlor looking for work. He had some experi- Brooklyn at 478 acres, a single grave plot, which ence with gravesite monuments back home in China, but his English was limited and he had been has room for three caskets, costs $17,000, up turned away by several funeral homes in New York City. He was, however, fluent in Cantonese and from $8,000 to $10,000 a decade ago. Space is at Mandarin. Aievoli hired him on the spot. a premium: Green-Wood management esti- “It became its own little funeral home within a funeral home,” he said of the new Chinese arm of mates it will run out of in-ground burial space his operation, which Zhao now runs with his wife, Amy Li. in about five years. A few years later Aievoli took over a Scandinavian funeral home on 8th Avenue, a storefront in the Trinity Graveyard and Mausoleum in heart of the growing Chinese neighborhood. He redesigned the building’s interior to accommodate Washington Heights is the only Manhattan ceme- traditional Chinese funerals, which meant installing fireplaces, among other changes, and reopened tery accepting new business, but it has space only in 2007 as Wan Shou Funeral Home, staffing it with native Chinese speakers. in above-ground mausoleums. Prices start at Despite the family business—and his own success in it—Aievoli, who now owns several properties $18,900 for a crypt. Crypts in the $9,000 to $12,000 in addition to his funeral parlors, is steering his kids away from mortuary work into something more range, available a decade ago, have sold out. lucrative. “I want them to experience the wider business world,” he said. At Woodlawn Cemetery, a sprawling 400- acre site in the Bronx, a plot for one costs $8,000 and a plot for two costs $10,000, double Some attribute the surge in cremations to thousands of dollars. But funeral homes now the prices of a decade ago. Executive Director relaxing religious mores and the fading of tradi- offer rental caskets for wakes and funeral serv- David Ison says the cemetery has at least 25 to tions. Families are more dispersed, so calling ices; an interior box slides out at the crematory. 50 years before space becomes an issue. everyone home for a funeral is complicated, and “People will tell you it’s the increase in sec- At the city’s largest Catholic cemetery, Calvary people are reluctant to take days off. “You used to ularization, and I hate to differ, but that’s not Cemetery in Queens, an in-ground plot with have a three-day wake with hundreds of people what I see,” Heyer said. “A family will come in room for three burials is $4,635. With space limited, coming through. Now you don’t even get a one- and say, ‘We’re not religious, we don’t want to Calvary sells plots for immediate use only. day wake,” Dominic Cusimano, grandson of the go to church, so that will save us money on a Staten Island’s largest burial site, Moravian original proprietor, said. He sold his building but service and pallbearers, etc. But can a priest just Cemetery, likewise does not sell plots in still does funeral arrangements, sharing mortuary come to the house and say a few words?’” advance. An in-ground plot for two interments space with other funeral directors. “We’re here to The famed Frank E. Campbell Funeral Parlor on costs $5,800, just 5% more than a decade ago. serve the remnants of families who still want to Manhattan’s Upper East Side, part of the Service Cremation, on the other hand, typically costs do things traditionally,” he said. Corp. International network since 1971, is trying about $4,000. It’s easy to see why it is becom- Many say the cremation trend is simply eco- to make cremation services as customary and ing more popular. Last year the nationwide cre- nomics. People are just more cost-conscious, meaningful as traditional funerals and burials. mation rate was about 50%, according to the observed Heyer, of Scotto’s, where cremations “For our families that select cremation as a NFDA, up from 25% in 1999. New York’s was are about 30% of the business. One of the final disposition, we make sure to educate them 39% in 2013, up from about 20% in 1999. biggest funeral costs is the casket, which can be that cremation doesn’t mean they can’t have a

Business Revival NEW TRICKS FOR AN OLD ENTERPRISE

SOME OF NEW YORK’S MORE SUCCESSFUL MORTUARY FAMILIES have adapted their approach to funerals and diversified their business holdings. From the start, Benta’s Funeral Home in Harlem, established in 1928 by George Alexander Benta, was designed to be more than just a funeral parlor. His son, George Bernard Benta, built 40 rental apartments above the mortuary. A few decades later, the younger Benta launched Benta Transportation, a livery service that now operates 18 luxury vehicles, including four hearses. One of the most storied parlors in the city, Benta’s handled the funerals of Alvin Ailey, Count Basie, Langston Hughes and Etta Jones, to name a few. Jason Benta, the founder’s great-grandson, took over in 2002 and runs the family enterprise with his mother, Dorrence. He expanded things further, taking cues from the wedding industry and hospitality management. He launched a digital printing company, Kreative House, which makes memorial programs, cards, brochures, funeral cre- dentials and other materials for funeral homes and event planners, forged a partnership with Barbara’s Flower Shop and created set designs for memorial flower displays. Such business integration, he said, “insulates us as well as mitigates any potential outside economic pressures.” Benta studied video production in college and brought those skills into the business. He developed an app, Digi- Tribute, that allows friends and relatives of the deceased to record messages and submit photos that the funeral home turns into a video tribute. “It lets family members rediscover their loved one through the eyes of another individual,” he said. “Long after the funeral, the family has this living legacy.” BUCK ENNIS

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SMALL BUSINESS | DEATH CARE

funeral service for their loved one before or that double as urns and provide a focal point for Cemeteries are offering more niches for urns after,” said John Kuhn, general manager. “A lot a service. Sets of small urns let family members in benches, columns and columbaria for those of them weren’t aware you could do that.” in different cities each take some of a loved one’s who want a funeral ritual even when opting The parlor is known for its star-studded cremains, eliminating the tense conversation of for cremation. clientele. Founded in 1898, it has handled who gets to keep Mom on their mantle. All this may be too much for some, though. funerals for the likes of Lauren Bacall, Irving Another growth area is memorial jewelry— Customer tastes and New York City’s communi- Berlin, Celia Cruz, Leona Helmsley, Philip lockets, rings, cylinders and other trinkets that can ties will continue to evolve, but that need not Seymour Hoffman, Jacqueline Kennedy hold cremains or a loved one’s fingerprint. Artisans spell disaster for funeral homes. Onassis, Joan Rivers, Tennessee Williams and can incorporate cremains into blown glass. “We’ve “There is a bright future for businesses who just about every major New York politico. tried to come up with different items that would can adapt to a 21st-century way of doing busi- Kuhn says people increasingly prefer to cele- have meaning to the cremation family,” Kuhn ness,” said Dan Isard, president of funeral brate the lives of the deceased rather than just said, adding that he doesn’t see the rising crema- industry consultancy the Foresight Companies. mourn their deaths, leading to new business tion rate as a negative. “We view it as a family deci- “We may be able to cure cancer, but we can’t opportunities, including customizable sculptures sion, and we’re here to offer them options.” cure death.” Ⅲ

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44% My relocation and move-in were smooth DECLINE in the number of going. Even before the move, the leasing funeral homes in the city process was painless. My real estate since 1990 experts told me they’ve never met 95% building owners like these. INCREASE in the cremation Robert G. Silverman, DC Chiropractor rate in New York state from 1999 to 2013 17 NUMBER of additional years a New Yorker who reaches 70 can expect to live Sources: Metropolitan Funeral Directors Association; National Funeral Directors Association; 2013 report by the New York City Department of Health and Mental Hygiene

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JULY 25, 2016 | CRAIN’S NEW YORK BUSINESS | 19 20160725-NEWS--0020-NAT-CCI-CN_-- 7/21/2016 7:52 PM Page 1

RETAIL | DOUBLE DIPPING

A SIP AND A BUD: Suzanna Cameron owns a small floral shop within the Brooklyn bar Sycamore.

Brooklyn florist sells cocktails. A footage, the twofer model lets owners optimize Lower East Side men’s clothing space. “The floral industry gets an early start,” store offers barber services. Cameron said. “Flowers are a morning thing, TWO Elsewhere, surf shops hawk cof- booze is a night thing. Logistically, it utilizes fee, yoga studios morph into bars the space at full capacity.” at sundown and clothing bou- tiques house studios for designers. Half the cost PLACES AThese are not just gimmicks to entice jaded Sharing a lease is another benefit. consumers. By selling flowers to a happy-hour “I save at least half on rent,” said Cameron. patron on his way home or helping a shopper in “You take a little pressure off, and that makes it need of a trim, business owners are running more fun.” Stems is open 11 a.m. to 6 p.m.; AT two—or more—storefront businesses for the Sycamore welcomes drinkers starting at 3 p.m. price of one. on weekdays and noon on weekends and stays “The businesses support each other and work open until 2 a.m. or 4 a.m. ONCE as this little ecosystem,” said Taavo Somer of his That symbiosis is a boon in today’s expensive Freemans mini-empire, which also includes a retail climate. restaurant steps away from his men’s sports- “Savvy businesses are going to need to find Owners who have wear store and barbershop. Different elements ways to keep the register running,” said Jeffrey combined multiple of Freemans appeal to different crowds, which Kessler, a retail broker with Warren Lewis keeps Freeman Alley, off Rivington Street and Sotheby’s International Realty in Brooklyn. consumer businesses where the three businesses are located, busy at “Starbucks is selling CDs and pistachio nuts ... and in single retail locations all times of the day. coffee. You have to keep people in the store and Connected ventures, whether jointly owned or try to sell something to anybody who walks in.” rave about the closely managed, make the customer of one the Kessler said it would be nearly impossible for synergies and savings potential customer of the other. Stems to find a stand-alone retail space as tiny as “You have to walk past the clothing store to the one it now occupies. A recent report from the BY CARA EISENPRESS get to the restaurant,” said Somer. He said some Real Estate Board of New York shows the median locals come more than once a day, say for price per square foot of ground-floor retail space breakfast and then a browse through the shop. on 7th Avenue in nearby Park Slope rising 17% in Customers entering Brooklyn bar Sycamore in the six months from summer 2015 to winter 2016. the evening usually don’t realize it is mainly a At the Dressing Room—a three-in-one busi- flower shop by day. They just admire the horti- ness on Orchard Street on the Lower East Side cultural decor, said Suzanna Cameron, who runs that encompasses a bar, a co-op for local design- Stems, the florist front to Sycamore’s bar business ers to sell their wares and a used-clothing in Ditmas Park. Likewise, during the day, said exchange—the multiple businesses keep cus- Cameron, “a lot of people think it’s a flower shop, tomers coming. and then they see the whiskey shelf.” She’s “Some weeks, the store is slower, but the bar owned the blooms business since 2013. Gary Jonas will be fine and keep us afloat because people and Allison McDowell, the husband-and-wife want to drink,” said co-owner Alexandra Adame. team at nearby neighborhood dining staple the “Other weeks, the bar may be slow but we have Farm on Adderley, opened the two-for-one wonderful sales on the clothing side. And some Sycamore in 2008 and later turned the flower side weeks we don’t have high ticket sales in the co- over to Cameron, who had been an employee. op, but the people buying $5 and $10 clothes from

BUCK ENNIS In a city with high rents and compact square- the exchange keep us going.”

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Another appeal of running multiple businesses, said Somer, is that he has an outlet for his creative energies. “The clothing was something I was just doing upstairs from the restaurant,” he said. “It started as a hobby but evolved into a full-blown business.” The barbershop began as a joke, suggested by a friend who was then acting as a handyman for Freemans. Freemans Sporting Club Barber is now jointly owned by four of the founding barbers. Somer also co-owns several other bars and restaurants beyond Rivington Street and has begun a design collective in Brooklyn that was a natural extension of his work designing his own interiors. The group builds furniture and interiors both for the individual NO DEAD END: Taavo Somer designers’ own projects and for the group’s co-owns three businesses clients—mainly restaurants, bars and hotels. along Freeman Alley, including a restaurant, men’s sportswear Double the cooks, double the books store and barbershop. In their 12th year, the Freemans businesses are grossing more than ever, thanks largely to revenue from private events, Somer said. He keeps the books for his businesses separate; each entity has a different roster of co-owners. At Stems and Sycamore, the accounting is separate too; Stems pays rent to Sycamore for the use of 99 square feet, plus basement storage. And at “It’s three times the work: bookkeeping, Despite the added administrative duties, the the Dressing Room, although Adame allows sales tax, vendors and ordering,” she said. “It’s owners said they benefit from the convenience shoppers to use credit from their used-clothing not like I can just focus on selecting new and synergy and find delight in their twofer drop-offs to buy drinks at the bar, she does designers for the store. I have to be on top businesses as much as their patrons do. the bookkeeping for each unit as if it were its of liquor orders, make sure we have beer and “When I get off work,” said Cameron, the own store. wine glasses, candles, everything.” florist, “the bar is right there.” Ⅲ

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JULY 25, 2016 | CRAIN’S NEW YORK BUSINESS | 21 ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS •

Going Back to Get Ahead | Education and Career Guide MORE THAN Budgeting Your Time When 66 Going Back to School WINNER percent FULL-TIME hen Lydia Serrano, 39, director of much time will be needed on a weekly basis You can also reference your project goals daily UfiDERGRADUATES marketing for 1-877-spirits.com, an for schoolwork outside of the classroom, said and keep track of your priorities through these ATTEfiD We-commerce wine-and-spirits gifts Barbara Frankel, co-founder and president of technological tools, Wright said. VALERIA MUNT website, decided to go back to school in January Career Counselors Consortium, a Manhattan- TUITION- for a master’s of science degree in integrated based organization of career counselors, and INVOLVE FAMILY HER STORY marketing, she knew that she would need to president of Coaching Initiatives LLC, which has Have a discussion with your significant other, so Born in Peru, Munt speaks three languages and earned a B.A. in political science from Brooklyn College and a FREE reallocate her free time. To help fit in the 19-22 offices in Manhattan and in North Hills on Long that person realizes he or she may need to take master’s degree from City College’s Colin Powell School for Civic and Global Leadership. Internships with U.S. hours a week of classroom time plus additional Island. Also, take one class a semester at first, on more responsibilities at home while you are Sen. Charles Schumer, UN Women, and the U.S. State Department consulate in Barcelona strengthened her • time for projects/reading assignments, she cut to ease yourself back in to school. studying, Frankel said. Fill in your family on what interest in politics. She is currently working in the offi ce of State Sen. Gustavo Rivera of the Bronx. back on marathon training and consolidated her you are learning, so that they’ll feel like they are AWARD errands and chores. She also uses her two-hour Keep in mind that part of being realistic involved with your studies and have a stake in commute by bus each day from her home in involves setting measurable goals for yourself. what you are trying to accomplish, said Kim. Humanity in Action Fellowship “to consider ways of promoting constructive diplomacy through innovative • Manhattan to her office in Guttenberg, N.J. to For instance, if the due-date for a class paper and inclusive approaches to national and international issues” took her to Washington D.C., Berlin, do schoolwork. coincides with a work deadline, break up what “You can tell your teenager what you learned in Paris and the Hague. needs to be done into small, manageable class today and then your teenager can tell you GOAL “In order to further my career in chunks; and set goals for each area on a what he or she learned as well,” said Kim. “This wine marketing, I decided that I daily basis, said Mike Wright, senior vice way, they’ll understand if you can’t eat dinner A job in international relations. 8 needed to fill in my knowledge president and chief of sales and marketing with them because you are busy studying for a with an advanced for the American Management Association in test. It will be like they are earning the degree in degree in this area,” Manhattan. along with you.” said Serrano, who is fififififififififi,fifififififififififififififififififififififififififi studying at the NYU Also, let your children see you School of Professional working at home, at least some fifififififififififififififififiTfififiCfifififiUfifififififififififi 10 Studies and has an of the time. “It can become an fifififififififififififififififififififififififififififififififififi- undergraduate important life lesson for them E fififififififififififififififififififififififififififififififififi:fi GRADUATE degree in on the importance of discipline fi history and getting an education, fififififififififififi.fiPfififififififififififiqfifififififi,fifififififififi- DEBT- from Yale if they see mom or fififififififififififififififififififififififififififififififififififififififi University. dad studying fifififififififififififififififififiCUfifi’fifififififififififififififififi FREE “But, to do this, hard,” Frankel I need to prioritize said. 1847.fiTfififiUfififififififififi’fifififififififififififififififi- • what I do in my free fififififififififififififififififififififififififififififififififififififififififi time, and right now that fifififififififififififififi.fiCUfififififififififififififififififififififififififififififififififififififififififififififi priority is getting this master’s.” HAVE A fifififififififififififififififififififififififififififififififififififi-fififififififififififififififi,fififififififififi DEDICATED fififififififififififi,fififififififi,fifififififififififififi,fifififififififififififififififififififififififififififi For others like Serrano, who are WORK SPACE fififififififififififififififififififififi.fiTfififififififififififififififififififififififififififiqfififififififi seeking a graduate degree or taking a few A work space advanced courses to hone existing skills, can be any fififififififififi,fififififififififififififififififififififififififi,fififififififififififififififififififififififi establishing a viable work-life balance becomes place where you fififififififififififififififififififi24fifififififififififififififififififififififififififififififi even more critical. “Decide what has to give, feel you can focus and fififififififififififififififififififififififififififififififififififififififififififififififififififi since often something will have to give,” said concentrate on schoolwork fififififififififififififififififififififiCUfififififififififififififififififififififififi Sharon Goldstein, chief operating officer for the without any distractions. This should be a quiet, fififififififififififififififififififififiCUfififififififififififififififififififififififi online campus at Berkeley College. “If you love uncluttered space where you can study, read fifififififififififififififififififififififi.fiTfififififififififififififififififififififififififi to play golf on the weekends, for example, you UTILIZE TECHNOLOGY and write course papers without interruption. fifififififififi:fiTfififi’fifififififiCUfififiVfifififi. may not be able to do that for a while.” Staying organized is key to better managing your time when faced with school and work “[Going to] a library or a Starbucks with a BE REALISTIC AND PLAN AHEAD deadlines. Create a Gantt chart in Excel that headset on might offer a good environment for Figure out how much time you have to devote will provide you with a graphical illustration of reading and preparing for class,” Frankel said. to graduate work, to see if it is really doable. a schedule to help plan out a project timeline, Classes alone, not counting schoolwork, could suggested Dr. Tatum Soo Kim, associate dean of As most experts have pointed out, budgeting fi—fiJfififififiB.fiMfififififififi be as long as two to three hours per session, student affairs at Columbia University’s School your time efficiently and refocusing your CHAfiCELLOR said Rachael Dylenski, assistant director, of Professional Studies. priorities may be somewhat challenging at first, graduate programs, at NYU. “You may need to but well worth it, considering the long-term wake up earlier or go to bed later to fit in being In addition, Kim recommended using Wunderlist, career gains that graduate work can help you back in school with the rest of your life. Make a to-do list and task-manager app that syncs attain. sure you can accept that,” Dylenski said. to your phone, tablet and computer to send you project reminders such as email messages “Just keep in mind that going back to school is Talk to professors or administrators at the and pop-up alerts that help you keep track of for a finite period of time, but can give you a university ahead of time to determine how assignments and efficiently manage your time. lifetime of rewards,” Goldstein said. cuny.edu/value S1

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66percent FULL-TIME WINNER UNDERGRADUATES ATTEND VALERIA MUNT TUITION- HER STORY Born in Peru, Munt speaks three languages and earned a B.A. in political science from Brooklyn College and a FREE master’s degree from City College’s Colin Powell School for Civic and Global Leadership. Internships with U.S. Sen. Charles Schumer, UN Women, and the U.S. State Department consulate in Barcelona strengthened her • interest in politics. She is currently working in the offi ce of State Sen. Gustavo Rivera of the Bronx. AWARD Humanity in Action Fellowship “to consider ways of promoting constructive diplomacy through innovative and inclusive approaches to national and international issues” took her to Washington D.C., Berlin, • Paris and the Hague. GOAL A job in international relations. 8in very year, hundreds of thousands of students choose The City University of New York for a multitude of rea- 10 Esons that can be summed up as one: GRADUATE opportunity. Providing a quality, accessi- DEBT- ble education regardless of background or means has been CUNY’s mission since FREE 1847. The University’s unwavering com- mitment to that principle is a source of • enormous pride. CUNY colleges offer a seemingly infi nite array of academic programs taught by award-winning faculty, as well as the arts, sports, internships, scholarships and community service opportunities. The powerful combination of quality academics, remarkable affordability, fi nancial support and the convenience of 24 modern campuses spanning the fi ve boroughs of New York – the most exciting city in the world – makes CUNY a singular value in higher education today. The wise choice for smart students: That’s the CUNY Value.

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Going Back to Get Ahead | Education and Career Guide Two Essential Classes You Need to Take NEXT

or those who may be looking for a master’s critical to successful sales these days, Davis- search engine marketing), social media and the degree, or want to enroll in just a few Friday pointed out. For instance, infographics brand, digital analytics, social media marketing Fadvanced courses to learn a skill that are often used when disseminating information analytics and strategic planning for marketers. would set them apart from the competition, via mobile devices. “If you are creating an ad there are new and innovative classes available that will be delivered this way, you want to make CODING for the taking. College courses in two key sure your graphics make sense,” said Davis- Computer coding allows for the creation of subjects like digital marketing and computer Friday. “Knowing how to do this will help make computer software, apps and websites. While coding are becoming more popular among a you a better salesperson and can ultimately classes on coding used to be taken solely by wide variety of professionals who, while they help you move up in your career.” computer programmers, times have changed may not work directly in those fields, feel that and basic coding skills have become slightly LEVEL keeping up with these latest areas in marketing more mainstream. At NYU, coding courses have and technology will help them advance in their since expanded their scope, particularly at the particular industries. There are also more graduate level. specific courses available within these general subject areas, on innovative topics such as “For instance, if you are conducting research for mobile marketing. a company to learn about a certain behavior, designing a survey that is accurate and “These skill sets can be helpful targeted can be more helpful than using in many different occupations,” an off-the-shelf product,” Weil said. said Susan Weil, Co-CEO of Jobtreks, a digital platform for Knowing how to code can also career networking and job be valuable in marketing, and for searching; and founding entrepreneurs. Columbia Business partner of Weil & Wein, a School at Columbia University, for national career advisory example, offers an MBA class called firm. “For instance, if you Programming for Entrepreneurs, are an engineer designing which teaches the fundamentals a product, studying digital of programming so that business marketing can help you better owners can write their own web understand your customers and applications. The class is hands-on how they will purchase and use your and students are expected to code product.” during this course.

DIGITAL MARKETING For business owners who really want Courses in the digital marketing and analytics control over product design, Yale School of arena teach how to analyze customer behavior, Management at Yale University now offers a class on Management of Software Development. which can allow professionals to better serve IN OUR CLASSROOMS, INDUSTRY their customers and clients, said Weil, allowing “If you work in the marketing side of a company Construction Management • Global Affairs PROFESSIONALS TELL IT LIKE IT IS. companies to be more nimble in anticipating and take coding classes, it allows you to better Hospitality Industry Studies • Human their clients’ needs. interact with your product development team to At the NYU School of Professional Studies, you acquire real- Resource Management and Development help create a better online experience for your Learning how to better navigate the digital customers,” said Julia Zupko, assistant dean world, practical experience from top industry experts and Integrated Marketing • Management and marketing world can help companies better and director, career development office, at Yale thought leaders in their fields. Our graduate programs provide Systems • Professional Writing • Project tweak their presence on social media, as well School of Management. an insider’s view to an education that is immediately applicable Management • Public Relations and as their website, which is often the first images in the workplace. Immersed in the heart of NYC, you benefit Corporate Communication • Publishing: a customer will see of a product or service. These study areas are growing so popular, that Other IT courses being offered at Yale include from an unmatched global perspective, invaluable networking Introduction to Programming and Programming Just look at the numbers. According to a 2015 database management and modeling and digital opportunities, and professional experiences at top companies Digital and Print Media • Real Estate Deloitte survey, a total of one in three U.S. marketing are required courses in NYU’s master’s and Entrepreneurship. and organizations. Fifteen career-focused master’s degrees and Real Estate Development • Sports Business consumers uses social media to help them degree program in integrated marketing, said make purchases and 47% of millennials are Cynthia Perez, director of admissions for the NYU Also, it’s easier to understand data and how 15 graduate certificates prepare you for the challenges that lie Tourism Management • Translation influenced by social media in their purchases. School of Professional Studies. to use it if you have coding skills, said Davis- ahead and the successes within and beyond your reach. Friday. “And, if you know data and can interpret “Baruch College’s Zicklin School of Business, “Professionals in all kinds of occupations now what your customers want based on this data, which is part of CUNY, rolled out a master of need to know how to reach their consumer base you can better service their needs and keep VISIT: sps.nyu.edu/graduate1g CALL: 212-998-7100 science degree program in digital marketing, via the internet,” Perez said. “This includes those them happy and satisfied.” Ultimately, if you in August 2015, and a very popular course on who work in publishing, finance, engineering, understand data and its implications, you will be REQUEST INFO./APPLY TODAY: sps.nyu.edu/gradinfo1g mobile marketing debuted in January 2016,” retail—just so many industries.” more successful in selling a product or service. said Professor Paquita Davis-Friday, executive director of graduate programs at the school. There also are credit and non-credit digital She added, “Taking these kinds of classes will FIND YOUR marketing classes at New York University, such give you a better investment in yourself—in a FUTURE SELF Knowing how to market on mobile devices is as search marketing (previously known as variety of industries and occupations.”

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IN OUR CLASSROOMS, INDUSTRY Construction Management • Global Affairs PROFESSIONALS TELL IT LIKE IT IS. Hospitality Industry Studies • Human At the NYU School of Professional Studies, you acquire real- Resource Management and Development world, practical experience from top industry experts and Integrated Marketing • Management and thought leaders in their fields. Our graduate programs provide Systems • Professional Writing • Project an insider’s view to an education that is immediately applicable Management • Public Relations and in the workplace. Immersed in the heart of NYC, you benefit Corporate Communication • Publishing: from an unmatched global perspective, invaluable networking opportunities, and professional experiences at top companies Digital and Print Media • Real Estate and organizations. Fifteen career-focused master’s degrees and Real Estate Development • Sports Business 15 graduate certificates prepare you for the challenges that lie Tourism Management • Translation ahead and the successes within and beyond your reach.

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Programmer/Analyst VP/Manager, Notice of Formation: Glinnotech LLC Notice of Qual. of 623 Halsey Lender, (AllianceBernstein L.P. New York, NY) Senior Web Digital Developer Art. Of Org. filed with Sec. of State of LLC, Auth. filed Sec’y of State (SSNY) Wrk closely w/equity buy side quant & (AllianceBernstein L.P. - New York, NY) NY (SSNY) on 01/12/2016. Office Loc: 12/29/15. Office loc: NY County. LLC rsrch analysts to dvlp & spprt tools for Architect, dvlp, & spport wide variety of web New York County. SSNY designated org. in DE 12/23/15. SSNY desig. as as agent of LLC upon whom process agent of LLC upon whom proc. against data analysis, quant mdl implementatns, pgs & app for co’s Glbl website. F/T. Reqs Master’s dgr in CS, CE, or rel fld & 4 yrs exp against it may be served. SSNY shall it may be served. SSNY shall mail copy mrkt data downloads, data visualizatn, & in job offerd or w/ JavaScript/JQuery/Ajax/ mail process to: 330 E 38th Street Unit of proc. to 256 W. 116th St., 2nd Fl., rprt’g. F/T. Reqs Bach’s dgr (or frgn equiv) JSON. All statd exp mst incl follw’g: XML/RSS 6B, NEW YORK, NY 10016 Purpose: NY, NY 10026. DE office addr.: CSC, in CS or Eng, Finan, Math or rel fld & 3 yrs & other data interchange stndrds to parse Any lawful activity. 2711 Centerville Rd., Wilmington, DE exp in job offered or wrk’g in finan ind. All data from content mgmt syst; HTML5 & CSS3, 19808. Cert. of Form. on file: SSDE, stated exp must incl the follow’g: Relational incl’g Webkit animation; utiliz’g XSLT to Townsend Bldg., Dover, DE 19901. Notice of Formation of JS Psychological, Database prgrm’g us’g SQLServer or Sybase; transfrm XML docs into other formats incl’g Purp: any lawful activities PLLC. Arts. of Org. filed with Secy. of Web dvlpmnt in C# & ASP.NET; wrk’g w/ at HTML; Web Srvces; Responsive Web Dsgn; Mobile, RequireJS or AngularJS; srch engine State of NY (SSNY) on 5/19/16. Office least 1 of the follow’g mrkt data vendors: Notice of Formation of 43 CHARLTON optimizatn (SEO); convert’g PNG/Mock into location: NY County. SSNY designated FactSet, Bloomberg, Thompson Reuters, or LLC. Arts. of Org. filed with Secy. of wrk’g exp; dsgn tools incl’g Adobe Firewrks & as agent of LLC upon whom process Compustat; & Excel VBA. Must also have 1 against it may be served. SSNY shall mail State of NY (SSNY) on 06/07/16. Office Photoshop; & creat’g interactns on iPad, location: NY County. SSNY designated yr exp w/ equity risk & return fundamentals. iPhone, & other mobile devices that con- process to: 185 Madison Ave., #15-07, NY, NY 10016. Purpose: any lawful activity. as agent of LLC upon whom process Exp may be gained concurrently. Resumes: form to W3C stndrds. Mst also hve 1 yr exp against it may be served. SSNY shall mail J. Alvia, AllianceBernstein L.P., 1345 Ave of wrk’g w/ Omniture track’g sftwre. Exp may process to c/o Julie M. Bradlow, Esq., the Americas, New York, NY 10105. Job ID be gained concurrently. Resumes: J. Alvia, Notice of Formation of GEORGE H. 2820 Selwyn Ave., Box 726, Charlotte, NEWKZH. AllianceBernstein LP, 1345 Ave of the Americas, PRICE LLC Arts. of Org. filed with Secy. NC 28209. Purpose: Any lawful activity. New York, NY 10105. JobID: NEWSSH of State of NY (SSNY) on 05/02/16. Office location: NY County. SSNY 51 ST. MARKS PLACE LLC. Art. of Org. designated as agent of LLC upon whom Sr. Project Manager filed with the SSNY on 05/25/16. Office: PUBLIC & LEGAL process against it may be served. SSNY Christie’s. NY, NY New York County. SSNY designated as Lead & manage IT enabled projects. SME on NOTICES shall mail process to c/o Stacy Cochran, agent of the LLC upon whom process ecommerce & digital products/systems. Lead 90 W. Broadway, 7th Fl., NY, NY 10007. against it may be served. SSNY shall portfolio of large transformational project Purpose: Any lawful activity. mail copy of process to the LLC, 565 initiatives. Need 5 yrs. progressive, post-grad Notice of Qualification of 1107 19B exp. in consumer-facing or technology role; 3 LLC Appl. for Auth. filed with Secy. 10th St., #1, Brooklyn, NY 11215. yrs. exp. managing global projects in matrix of State of NY (SSNY) on 06/30/16. Notice of Formation of 22 GPS, LLC. Purpose: Any lawful purpose. structure; 2 yrs. exp. leading technical syst. Office location: NY County. LLC formed Arts. of Org. filed with Secy. of State integration projects. Exp. working globally w/ in Delaware (DE) on 06/28/16. Princ. of NY (SSNY) on 6/21/16. Office TWO EIGHTEEN LLC. Art. of Org. filed distributed software team, & managing global office of LLC: The Witkoff Group, 40 location: NY County. SSNY designated vendors & 3rd party partners on digital/ with the SSNY on 05/09/16. Office: W. 57th St., Ste. 1620, NY, NY 10019. as agent of LLC upon whom process New York County. SSNY designated as ecommerce implementations. Exp. can be SSNY designated as agent of LLC upon against it may be served. SSNY shall gained concurrently. Need BS in Comp. Sc., agent of the LLC upon whom process Info. Sys., Bus. Administr., or related field. whom process against it may be served. mail process to: c/o Davis & Gilbert against it may be served. SSNY shall Apply via [email protected], re: position SSNY shall mail process to c/o Corpora- LLP, 1740 Broadway, NY, NY 10019. mail copy of process to the LLC, 2 title. No calls. tion Service Co. (CSC), 80 State St., Albany, Purpose: any lawful activity. Rector Street, Suite 903, New York, NY NY 12207. DE addr. of LLC: c/o CSC, 10006. Purpose: Any lawful purpose. 2711 Centerville Rd., Ste. 400, Wilmington, Name of LLC: BRL Investimentos USA DE 19808. Cert. of Form. filed with TELECOMMUNICATIONS LLC. Arts. of Org. filed with NY Dept. Jeffrey W. Bullock, Secy. of State of DE, NOTICE OF FORMATION OF OHM NYC, of State: 6/22/16. Office loc.: NY Co. Div. of Corps., John G. Townsend Bldg., LLC. Articles of Organization of OHM Sec. of State designated agent of LLC 401 Federal St., Ste. 4, Dover, DE NYC, LLC were filed with the New York upon whom process against it may 19901. Purpose: Any lawful activity. State Department of State on January be served and shall mail process to: 5, 2016. Office Location: New York Business Filings Inc., 187 Wolf Rd., Ste. County, New York. The Secretary of Notice of Qual. of 552 Gates Lender, 101, Albany, NY 12205, regd. agt. upon State of New York was designated agent LLC, Auth. filed Sec’y of State (SSNY) whom process may be served. Purpose: for service of process. The Secretary of 10/29/15. Office loc: NY County. LLC any lawful act. State of New York shall mail copies of org. in DE 10/27/15. SSNY desig. as any process served against the limited agent of LLC upon whom proc. against liability company to the company at Notice of Formation of JOE ECDO EH it may be served. SSNY shall mail copy 120 W. 45th St., New York, NY 10036. LLC. Arts. of Org. filed with Secy. of of proc. to 256 W. 116th St., 2nd Fl., Purpose: any lawful purpose or activity. NY, NY 10026. DE office addr.: CSC, State of NY (SSNY) on 6/21/16. Office 2711 Centerville Rd., Wilmington, DE location: NY County. SSNY designated 19808. Cert. of Form. on file: SSDE, as agent of LLC upon whom process Notice of Qualification of NEW YORK Townsend Bldg., Dover, DE 19901. against it may be served. SSNY shall CI LLC Appl. for Auth. filed with Secy Purp: any lawful activities. mail process to: The LLC, c/o Goldstein of State of NY (SSNY) on 06/17/16. Hall PLLC, 80 Broad St., Ste. 303, NY, Office location: NY County. LLC formed NY 10004. Purpose: any lawful activity. in Delaware (DE) on 06/07/16. SSNY Notice of Qualification of Consolidated designated as agent of LLC upon whom Energy Solutions LP. Authority filed with process against it may be served. SSNY NY Dept. of State on 5/20/16. NYS fict. Notice of Qualification of 62-60 99th shall mail process to c/o Corporation name: Consolidated Energy Solutions USA Street Owner II LLC. Authority filed with Service Co., 80 State St., Albany, NY LP. Office location: NY County. Princ. bus. NY Dept. of State on 5/13/16. Office 12207-2543. DE addr. of LLC: 2711 addr.: 1920 Yonge St., Ste. 200, Toronto, location: NY County. Princ. bus. addr.: Centerville Rd., Ste. 400, Wilmington, ON M4S 3E2 Canada. LP formed in DE 825 3rd Ave., Fl 37, NY, NY 10022. DE 19808. Cert. of Form. filed with Secy. on 12/8/15. NY Sec. of State designated LLC formed in DE on 5/10/16. NY Sec. of State of DE, Div. of Corps., 401 Federal agent of LP upon whom process against it of State designated agent of LLC upon St., Ste. 4, Dover, DE 19901. Purpose: PUBLIC & LEGAL may be served and shall mail process to: whom process against it may be served Any lawful activity. NOTICES c/o CT Corporation System, 111 8th Ave., and shall mail process to: c/o CT Corporation NY, NY 10011, regd. agent upon whom System, 111 8th Ave., NY, NY 10011, Notice of Qualification of 286 SPRING process may be served. DE addr. of LP: regd. agent upon whom process may Notice of Qualification of Distinguished PH LLC. Appl. for Auth. filed with Secy. 1209 Orange St., Wilmington, DE 19801. be served. DE addr. of LLC: Corporation Capital LLC. App. for Auth. filed with Secy. of State of NY (SSNY) on 06/06/16. Name/addr. of genl. ptr. available from Trust Co., 1209 Orange St., Wilmington, of State of NY (SSNY) on 5/25/16. Office Office location: NY County. LLC formed NY Sec. of State. Cert. of LP filed with DE DE 19801. Cert. of Form. filed with DE location: NY County. LLC formed in Del- in Delaware (DE) on 05/11/16. Princ. Sec. of State, 401 Federal St., Dover, DE Sec. of State, 401 Federal St., Dover, aware (DE) on 5/16/16. SSNY desig- office of LLC: BAM Administrative Ser- 19901. Purpose: all lawful purposes. DE 19901. Purpose: all lawful purposes. nated as agent of LLC upon whom process vices LLC, 1370 Ave. of the Americas, against it may be served. SSNY shall 32nd Fl., NY, NY 10019. SSNY des- mail process to the principal business Notice of Formation of MARGOT WEIL Notice of Formation of 12th Street ignated as agent of LLC upon whom location of LLC: 1180 Ave. of the Americas, PSYCHOLOGY, LLC Arts. of Org. filed Penthouse, LLC. Arts. of Org. filed with process against it may be served. SSNY Fl. 16, NY, NY 10036. DE address of with Secy. of State of NY (SSNY) on NY Dept. of State on 6/29/16. Office shall mail process to c/o Corporation LLC: c/o 3H Corporate Services, LLC, 05/12/16. Office location: NY County. location: NY County. Sec. of State desig- Service Co., 80 State St., Albany, NY 1201 N. Orange St., Ste. 710, Wilming- Princ. office of PLLC: 122 E. 82nd St., nated agent of LLC upon whom process 12207-2543. DE addr. of LLC: 2711 ton, DE 19801. Arts. of Org. filed with NY, NY 10028. SSNY designated as against it may be served and shall mail Centerville Rd., Ste. 400, Wilmington, DE Secy. of State, 401 Federal St., Ste. agent of PLLC upon whom process against process to: Sam H. Roberson, Esq., DE 19808. Cert. of Form. filed with 4, Dover, DE 19901. Purpose: invest- it may be served. SSNY shall mail pro- 1900 M St., NW, #600, Washington, Secy. of State, John G. Townsend Bldg., ment holding companies and any other cess to the PLLC at the addr. of its princ. DC 20036, principal business address. 401 Federal St. - Ste. 4, Dover, DE purposes permitted by applicable law. office. Purpose: Psychology practice. Purpose: all lawful purposes. 19901. Purpose: Any lawful activity.

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Notice of Formation of AJAX TICKETING Notice of Formation of WOODHAVEN 77, Notice of Qualification of NWCP GP LLC Notice of Formation of a Limited Liability LLC Arts. of Org. filed with Secy. of State LLC Arts. of Org. filed with Secy. of State of Appl. for Auth. filed with Secy. of State Company (LLC). Name: Silver Dollar of NY (SSNY) on 06/09/16. Office loca- NY (SSNY) on 04/05/16. Office location: of NY (SSNY) on 06/20/16. Office location: Ventures LLC. Articles of Organization tion: NY County. SSNY designated as agent NY County. Princ. office of LLC: 381 Park NY County. LLC formed in Delaware filed by the Department of State of New of LLC upon whom process against it may Ave. S, Ste. 1420, NY, NY 10016. SSNY (DE) on 06/15/16. SSNY designated York on: 05/03/2016. Office location: be served. SSNY shall mail process to designated as agent of LLC upon whom as agent of LLC upon whom process County of New York. Purpose: any and Corporation Service Co., 80 State St., process against it may be served. SSNY against it may be served. SSNY shall all lawful activities. Secretary of State Albany, NY 12207, regd. agent upon shall mail process to Margules Properties, mail process to c/o Corporation Service of New York (SSNY) is designated as whom and at which process may be Inc., Attn: Eric Margules at the princ. of- Co., 80 State St., Albany, NY 12207. agent of the LLC upon whom process served. Purpose: Any lawful activity. fice of the LLC, regd. agent upon whom DE addr. of LLC: 2711 Centerville Rd., against it may be served. SSNY shall and at which process may be served. Ste. 400, Wilmington, DE 19808. Cert. of mail a copy of process to: 45 Sutton Purpose: Any lawful activity. Form. filed with Secy. of State, Townsend Place South, 12F, New York, NY 10022. NOTICE OF QUALIFICATION OF Bldg., 401 Federal St., #4, Dover, DE OHM CONCESSION GROUP LLC. Notice of Qualification of HALLETTS 19901. Purpose: Any lawful activity. Application for Authority of OHM Con- RACHOK LLC. Art. of Org. filed with the INVESTORS BUILDING 1 LLC. Appl. for cession Group LLC was filed with the SSNY on 05/09/16. Office: New York Auth. filed with Secy. of State of NY New York State Department of State on Notice of Formation of PT&T HOLDINGS County. SSNY designated as agent of (SSNY) on 05/27/16. Office location: March 14 2016. The LLC was formed LLC Arts. of Org. filed with Secy. of State of the LLC upon whom process against it NY County. LLC formed in Delaware in Missouri on January 13, 1998.Office NY (SSNY) on 06/07/16. Office location: may be served. SSNY shall mail copy (DE) on 09/16/15. SSNY designated Location: New York County, New York. NY County. Princ. office of LLC: 333 W. of process to the LLC, 2 Rector Street, as agent of LLC upon whom process The Secretary of State of New York 14th St., NY, NY 10014. SSNY designated Suite 903, New York, NY 10006. against it may be served. SSNY shall was designated agent for service of as agent of LLC upon whom process Purpose: Any lawful purpose. process. The Secretary of State of New mail process to c/o Royal Realty Corp., against it may be served. SSNY shall York shall mail copies of any process Attn: Corporate Counsel, One Bryant mail process to the LLC at the addr. of its Park, NY, NY 10036. DE addr. of LLC: served against the limited liability princ. office. Purpose: Any lawful activity. Notice of Qualification of CS SJM c/o Corporation Service Co., 2711 company to the company at 120 W. E 92nd Street Owner, LLC. Authority Centerville Rd., Ste. 400, Wilmington, 45th St., New York, NY 10036. The filed with NY Dept. of State on 6/2/16. DE 19808. Cert. of Form. filed with Notice of Qualification of DIMONT & Missouri address of the LLC is 10812 Office location: NY County. Princ. bus. Secy. of State of DE, John G. Townsend ASSOCIATES, LLC. Appl. for Auth. filed St. Charles Rock Rd., St. Ann, Missouri addr.: 5 Old Lancaster Rd., Malvern, PA Bldg., 401 Federal St., Ste. 4, Dover, with Secy. of State of NY (SSNY) on 63074. The Articles of Organization 19355. LLC formed in DE on 5/31/16. DE 19901. Purpose: Any lawful activity. 07/08/16. Office location: NY County. of the LLC are filed with the Missouri LLC formed in Delaware (DE) on NY Sec. of State designated agent of Secretary of State, 600 West Main 03/11/16. SSNY designated as agent LLC upon whom process against it may Street, Jefferson City, Missouri 65101. Notice of Formation of ANGEL & TIGER of LLC upon whom process against it be served and shall mail process to: Purpose: any lawful purpose or activity. LLC Arts. of Org. filed with Secy. of may be served. SSNY shall mail pro- c/o CT Corporation System, 111 8th State of NY (SSNY) on 07/07/16. Of- cess to c/o Corporation Service Co., 80 Ave., NY, NY 10011, regd. agent upon fice location: NY County. Princ. office of State St., Albany, NY 12207-2543. DE whom process may be served. DE addr. Notice of Qualification of PEG DIRECT LLC: 575 Madison Ave., Ste. 7D, NY, NY of LLC: 1209 Orange St., Wilmington, GLOBAL PRIVATE EQUITY INSTITUTIONAL addr. of LLC: c/o Vcorp Services, 1013 10022. SSNY designated as agent of Centre Rd., Ste. 403B, Wilmington, DE DE 19801. Cert. of Form. filed with DE INVESTORS VI LLC. Appl. for Auth. filed LLC upon whom process against it may Sec. of State, 401 Federal St., Dover, DE with Secy. of State of NY (SSNY) on 19805. Cert. of Form. filed with State be served. SSNY shall mail process to of DE-Div. of Corp., John G. Townsend 19901. Purpose: all lawful purposes. 06/27/16. Office location: NY County. LLC Corporation Service Co., 80 State St., formed in Delaware (DE) on 06/02/16. Bldg., 401 Federal St., Ste. 4, Dover, Albany, NY 12207-2543. Purpose: Any DE 19901. Purpose: Any lawful activity. SSNY designated as agent of LLC upon lawful activity. Notice of Formation of 21 East 12th whom process against it may be served. Street D, LLC. Arts. of Org. filed with SSNY shall mail process to Corporation NOTICE OF FORMATION OF 305 WEST NY Dept. of State on 6/28/16. Office Notice of Qualification of ABN AMRO Service Co. (CSC), 80 State St., Albany, NY END HOLDING LLC. Arts of Org filed location: NY County. Sec. of State desig- ICESTAR USA LLC Appl. for Auth.filed 12207. DE addr. of LLC: CSC, 2711 with Secy of State of NY (SSNY) on nated agent of LLC upon whom process with Secy. of State of NY (SSNY) on Centerville Rd., Ste. 400, Wilmington, 6/8/16. Office location: NEW YORK against it may be served and shall mail 04/05/16. Office location: NY County. LLC DE 19808. Cert. of Form. filed with DE County. SSNY designated agent upon process to: Sam H. Roberson, Esq., formed in Delaware (DE) on 12/11/15. Secy. of State, Div. of Corps., Townsend whom process may be served and 1900 M St., NW, #600, Washington, Princ. office of LLC: 100 Park Ave., Bldg., 401 Federal St., Dover, DE 19901. shall mail copy of process against DC 20036, principal business address. 17TH Fl., NY, NY 10017. SSNY designat- Purpose: Any lawful activity. LLC to principal business address: 40 Purpose: all lawful purposes. ed as agent of LLC upon whom process EXCHANGE PLACE, Ste 1201, NY NY against it may be served. SSNY shall 10005. Purpose: any lawful act. Notice of Qualification of HARRADEN mail process to Attn: Jacob Douwe Notice of Qualification of HALLETTS CIRCLE INVESTMENTS, LLC. Appl. for (“Jaap”) Kalverkamp at the princ. office INVESTORS BUILDING 2 LLC. Appl. for Auth. filed with Secy. of State of NY of the LLC. DE addr. of LLC: Corporation NOTICE OF FORMATION OF Create160, Auth. filed with Secy. of State of NY (SSNY) on 07/11/16. Office location: Service Co., 2711 Centerville Rd., Ste. LLC. Articles of Organization filed with (SSNY) on 05/27/16. Office location: NY County. LLC formed in Delaware 400, Wilmington, DE 19808. Cert. of the Secretary of State of NY (SSNY) on NY County. LLC formed in Delaware (DE) on 06/24/16. Princ. office of LLC: Form. filed with Secy. of State, Div. of 6/21/2016. Office location: NEW YORK (DE) on 05/26/16. SSNY designated 825 Third Ave., 33rd Fl., NY, NY 10022. Corps., P.O. Box 898, Dover, DE 19903. County. SSNY has been designated as as agent of LLC upon whom process SSNY designated as agent of LLC upon Purpose: Any lawful activity. agent upon whom process against it against it may be served. SSNY shall whom process against it may be served. may be served. The Post Office address mail process to c/o Royal Realty Corp., SSNY shall mail process to the LLC at Notice of formation of Sweepsty, LLC. to which the SSNY shall mail a copy of any Attn: Corporate Counsel, One Bryant the princ. office of the LLC. DE addr. of Arts of Org filed with Secy. of State NY process against the LLC served upon Park, NY, NY 10036. DE addr. of LLC: LLC: c/o Corporation Service Co., 2711 (SSNY) on 3/21/2016. Office location: him/her is: c/o United States Corporation c/o Corporation Service Co., 2711 Centerville Rd., Ste. 400, Wilmington, NY County. SSNY designated agent upon Agents, Inc, 7014 13th Avenue, Suite 202, Centerville Rd., Ste. 400, Wilmington, DE 19808. Cert. of Form. filed with whom process may be served and shall Brooklyn, NY 11228. The principal DE 19808. Cert. of Form. filed with DE Secy. of State, John G. Townsend mail copy of process against LLC to prin- business address of the LLC is: 160 Secy. of State of DE, John G. Townsend Bldg., 401 Federal St., Ste. #4, Dover, DE ciple business address: 829 9th Ave #3A, West 73rd St, 2C, New York, NY 10023. Bldg., 401 Federal St., Ste.4, Dover, DE 19901. Purpose: Any lawful activity. NY, NY 10019. Purpose: any lawful act. Purpose: any lawful act or activity. 19901. Purpose: Any lawful activity.

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P026-28_CN_2016 0725.indd 27 7/22/2016 12:17:06 PM To place yourTo place listing, your contact listing, visitJoanne crainsnewyork.com/execmoves Barbieri • 212-210-0189

FINANCE LAW REAL ESTATE Ridgewood Savings Bank Blank Rome LLP The Georgetown Company HAP Investment Developers Leonard Stekol Lisa Campisi 49, Michael Busch, 38, Lee Karlin joined HAP Investment was promoted to joined Blank Rome joined The George- Developers as Senior President and Chief LLP as Partner. She town Company as Vice President of Operating Officer. He was formerly Of General Counsel. Design and Construc- previously held the Counsel at Morgan He was formerly tion. He was formerly position of Executive Lewis. Ms. Campisi Counsel at Skadden, Senior Vice President Vice President & has more than 20 of Technical Services Chief Operating Offi- years of experience Arps, Slate, Mea- at Tishman Hotel cer. Ridgewood Savings Bank is the and counsels clients on a variety of gher & Flom. With and Realty Corpora- largest mutual savings bank in New types of insurance coverage, including more than a decade of experience York State, with over $5 billion in general liability, representations and representing clients in all aspects tion. Karlin will be responsible for assets. With 34 branches in the New warranty coverage, cyber-liability, of real estate development, Busch all design and construction related York area, Ridgewood Savings Bank directors and officers insurance, will serve as a member of the firm’s tasks for HAP Investments’ growing continues to serve its community as employment practices liability, fidu- leadership team, acting as in-house portfolio from concept inception to project completion while providing it did in 1921, with their continued ciary liability, errors and omissions, counsel on all of the firm’s transac- focus always on their customers. professional liability, environmental, supervision and guidance to HAP’s tions and activities. fidelity, fiduciary, crime, and other internal project management staff. insurance coverages.

MANUFACTURING Zubatkin Owner Representation, Meringoff Properties LLC Constellium Norton Rose Fulbright Willie Choi joined Meringoff Properties Suzanne M. Musho was promoted to joined Jean-Marc Germain Steve Howard as Vice President. Vice President. She Norton Rose previously held the joined Constellium Fulbright as Partner. He was formerly position of Senior as Chief Executive He was formerly Property Manager at Project Manager. Officer. He was for- Partner at Michelman William Macklowe As VP, Suzanne will merly Chief Execu- & Robinson, LLP. In Company. Meringoff his asset and wealth oversee the planning, tive Officer at Algeco Properties, Inc. is management prac- design, approvals Scotsman. As CEO, Jean-Marc will tice, Steve Howard advises clients a fully-integrated and construction of progress Constellium’s opportunities on fund formation, SEC registra- management company, with more building projects for clients. She is currently managing projects for the for growth and innovation in the tions, risk management, fiduciary than 35 years of experience in the issues, conflicts of interest, contract Richard Gilder Center for Science, aluminum industry, building on its creative repositioning, redevelop- negotiations, litigation, public dis- Education, and Innovation at the fundamental strengths in the automo- closures in registration statements ment and operation of undervalued American Museum of Natural History tive, aerospace and packaging sectors. and compliance issues. commercial properties. and the Jackie Robinson Foundation.

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PUBLIC & LEGAL NOTICES

Notice of Formation of WSFSSH PA LLC. Notice of Formation of JOE ECDO ZNH Notice of Qualification of RCB3 Afford- Notice of Qualification of SK Capital Arts. of Org. filed with Secy. of State of LLC. Arts. of Org. filed with Secy. of able LLC. Authority filed with NY Dept. Management IV, LP. Authority filed NY (SSNY) on 7/12/16. Office location: State of NY (SSNY) on 6/20/16. Office of State on 7/8/16. Office location: with NY Dept. of State on 7/12/16. NY County. SSNY designated as agent location: NY County. SSNY designated NY County. Princ. bus. addr.: 125 Office location: NY County. Princ. bus. of LLC upon whom process against as agent of LLC upon whom process High St., 27th Fl., Boston, MA 02110. addr.: 400 Park Ave., Ste. 820, NY, NY it may be served. SSNY shall mail against it may be served. SSNY shall LLC formed in DE on 6/30/16. NY 10022. LP formed in Cayman Islands process to: 2345 Broadway, NY, NY mail process to: The LLC, c/o Goldstein Sec. of State designated agent of LLC (CI) on 4/18/16. NY Sec. of State 10024. Purpose: any lawful activity. Hall PLLC, 80 Broad St., Ste. 303, NY, upon whom process against it may be designated agent of LP upon whom pro- NY 10004. Purpose: any lawful activity. served and shall mail process to: c/o cess against it may be served and shall CT Corporation System, 111 8th Ave., mail process to: c/o CT Corporation NOTICE OF FORMATION: Unit 18E 60 NY, NY 10011, regd. agent upon whom System, 111 8th Ave., NY, NY 10011, East 8th Street New York, LLC Arts of Org. Name of LLC: High Line Advisory Services process may be served. DE addr. of regd. agent upon whom process may filed with SSNY 6/16/16. Office: NY LLC. Arts. of Org. filed with NY Dept. of LLC: 1209 Orange St., Wilmington, DE be served. CI addr. of LP: c/o Maples Co. SSNY designated agent of LLC upon State: 5/31/16. Office loc.: NY Co. Sec. 19801. Cert. of Form. filed with DE Sec. Corporate Services Ltd., PO Box 309, whom process may be served & mailed: of State designated agent of LLC upon of State, 401 Federal St., Dover, DE Ugland House, Grand Cayman, KY1- Susan Patrick c/o Thomas S. Monterosso whom process against it may be served 19901. Purpose: all lawful purposes. 1104, CI. Name/addr. of genl. ptr. CPA, P.C., 65 Cherry St., Milford, CT and shall mail process to: Business Filings available from NY Sec. of State. Cert. 06460. Purpose: all lawful activities. Inc., 187 Wolf Rd., Ste. 101, Albany, NY of LP filed with Asst. Registrar of LPs, 12205, regd. agt. upon whom process Notice of Qualification of USD 636-640 Govt. Admin. Bldg., 133 Elgin Ave., may be served. Purpose: any lawful act. W 158 LLC Appl. for Auth. filed with Secy. George Town, Grand Cayman KY1-9000, Notice of Qualification of Accuity Delivery of State of NY (SSNY) on 06/23/16. CI. Purpose: all lawful purposes. Systems LLC. Authority filed with NY Office location: NY County. LLC formed Dept. of State on 6/27/16. Office loca- Notice of Qualification of RCB4 Afford- tion: NY County. Princ. bus. addr.: 810 able LLC. Authority filed with NY Dept. in Delaware (DE) on 05/05/16. Princ. Notice of Qualification of Cyber Risk 7th Ave., Ste. 1110, NY, NY 10019. of State on 7/8/16. Office location: office of LLC: c/o Urban Standard Devel- Management, LLC. App. for Auth. filed LLC organized in NV on 12/8/15. NY NY County. Princ. bus. addr.: 125 opment, 27 W. 20th St., NY, NY 10011. with Secy. of State of NY (SSNY) on Sec. of State designated agent of LLC High St., 27th Fl., Boston, MA 02110. SSNY designated as agent of LLC upon 5/27/16. Office location: NY County. upon whom process against it may LLC formed in DE on 6/30/16. NY whom process against it may be served. LLC formed in Delaware (DE) on be served and shall mail process to: Sec. of State designated agent of LLC SSNY shall mail process to c/o Rosenberg 4/8/13. SSNY designated as agent of c/o CT Corporation System, 111 8th upon whom process against it may be & Estis, P.C., Attn: Jason R. Davidson, LLC upon whom process against it may Ave., NY, NY 10011, regd. agent upon served and shall mail process to: c/o Esq., 733 Third Ave., NY, NY 10017. DE be served. SSNY shall mail process to: whom process may be served. NV CT Corporation System, 111 8th Ave., addr. of LLC: c/o Corporation Service Capitol Services, Inc., 1218 Central addr. of LLC: c/o The Corporation Trust NY, NY 10011, regd. agent upon whom Co., 2711 Centerville Rd., Ste. 400, Ave., Ste. 100, Albany, NY 12205. DE Company of Nevada, 701 S. Carson St., process may be served. DE addr. of Wilmington, DE 19808. Cert. of Form. address of LLC: 1675 South State Ste. 200, Carson City, NV 89701. Cert. LLC: 1209 Orange St., Wilmington, DE filed with Secy. of the State of DE, Div. St., Ste. B, Dover, DE 19901. Arts. of of Org. filed with NV Sec. of State, 202 19801. Cert. of Form. filed with DE Sec. of Corps., John G. Townsend Bldg., 401 Org. filed with DE Secy. of State, 401 N. Carson St., Carson City, NV 89701. of State, 401 Federal St., Dover, DE Federal St., Ste. 4, Dover, DE 19901. Federal St., Ste. 4, Dover, DE 19901. Purpose: all lawful purposes. 19901. Purpose: all lawful purposes. Purpose: Any lawful activity. Purpose: any lawful act or activity.

28 | CRAIN’S NEW YORK BUSINESS | JULY 25, 2016

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GOTHAM GIGS

KNOCK WOOD: Global rock star Salman Ahmad has received death threats in his native Pakistan and finds refuge in New York, such as here in Riverside Park.

The Bono of Pakistan craves anonymity in the city Queens College music professor writes songs about peace,love,unity and social justice

is sufi rock band, Junoon, has sold more medicine in Lahore,” Ahmad explained. “I started SALMAN AHMAD than 25 million albums worldwide and seven underground bands while I was there.” was likened to U2 by The New York Times’ Ahmad graduated from medical school in 1988. He music critic. But despite collaborating then returned to Rockland County, intending to AGE 52 Hwith such music superstars as Melissa Etheridge and “pursue his passion” for a year before becoming a BORN Lahore, Pakistan Peter Gabriel, rock star Salman Ahmad is unknown to doctor. That pursuit has never ended. RESIDES Tappan, NY the majority of New Yorkers. In addition to teaching a course in TITLE Founder and lead guitarist, And he’s OK with that. Islamic music and culture at Queens Junoon; visiting professor at the I can be who Aaron Copland School of Music, “I can be who I really am in New “ College, Ahmad was a UN Goodwill Queens College York,” said Ahmad, who has lived in I really am Ambassador, spreading awareness about EDUCATION M.B.B.S. from King Rockland County for the last 41 years. “In in New York. HIV in South Asia, and is now helping to Edward Medical University, Lahore, Pakistan, it can be crazy. Sometimes I’m In Pakistan, eradicate polio in Pakistan. He owns a Pakistan under death threats from extremists, and it can be home in Tappan, NY, near where he grew RECENT WORK Ahmad wrote the some of my fans love me to death. So it’s up, and has houses in Lahore and Karachi, theme song for Open Your Eyes, an like being on a different planet.” crazy Pakistan. With Junoon, he is committed HBO documentary; it was sung by ” Peter Gabriel. The film focuses on At age 11, Ahmad moved from Pakistan to bridging his two cultures. two poor, blind farmers from Nepal to New York with his mother and his father, who “I feel very passionate about all of my identities, who had their sight restored by eye- worked for Kuwaiti Airlines. Three years later, he was and my music expresses that,” explained Ahmad, care charity, the Seva Foundation. so taken by his first rock concert—Led Zeppelin at who said his songs are about peace, unity, love and IF JUNOON = U2, Madison Square Garden—that he saved money to buy a social change. THEN AHMAD = BONO? “I grew guitar, which he taught himself to play. But after he “The world we live in today is very, very scary. up on U2 and I’m a huge fan, so it’s a little embarrassing [to be compared graduated from high school in the United States, Extremists understand the power of culture and art, to them], but perhaps people see sim- Ahmad’s parents sent him back to his birthplace. and that’s why we are targets, but we can’t stop. If ilarities in Junoon and U2 themes, like “They were convinced that I was going to become we did, that would create an even scarier world.” social justice and spirituality.”

BUCK ENNIS a guitar player, so they sent me to Pakistan to study – ADDIE MORFOOT

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SNAPS

Samuel Waxman Foundation holds a benefit in the Hamptons

The Samuel Waxman Cancer Research Foundation marked its 40th anniversary at a benefit July 9 at the Bridgehampton home of Renaissance Properties chief executive officer Kenneth Fishel and his wife, Maria. Founded by Dr. Samuel Waxman, a professor at Icahn School of Medicine at Mount Sinai, the foundation researches how abnormal gene functions can cause cancer. At the fete, TV chef and cookbook author Sandra Lee gave a speech about her recent bout with breast Deirdre Quinn, CEO of cancer and her successful treat- Lafayette 148; Sandra Lee, chief executive of Sandra ment at Mount Sinai. Lee, Inc.; and Jayma Cardoso, founder of the Surf Lodge in Montauk, were honored at the cancer-research fundraiser, Chris Wragge, WCBS News anchor and event emcee, which brought in $400,000. and wife Sarah Siciliano, global marketing director for We Fly Coach.

Destination East for God’s Love We Deliver

Rebecca Bond, founder of CaringKind raises $1.3 million for Alzheimer’s care Evolve, and Edie Lutnick, co-founder and president of Susan Stroman, Tony- the Cantor Fitzgerald Relief winning director and Fund, at a June 18 benefit event honoree, and for God’s Love We Deliver, David Hyde Pierce, a nonprofit that brings Tony- and Emmy- meals to the homes of winning actor, at the severely ill people. June 13 benefit for CaringKind, a nonprofit formerly known as the Alzheimer’s Association, New York City chapter.

Ron Duguay, event honoree and former NHL All-Star; Laurel Crosby, CaringKind Junior Committee president; Nigel Barker, event emcee and celebrity photographer; and Lou- Ellen Barkan, president and CEO of CaringKind, at Bill Rudin, CEO of Rudin Management Company and co-host of the event; the Pierre Hotel Mamadou Doumbia, player for French soccer club CA Bastia; David Monn, fete, which raised event designer; Ophelia Rudin, Mr. Rudin’s wife; and her brother Alex $1.3 million. Papachristidis, principal of Alex Papachristidis Interiors and co-host of the event. The benefit was held at the Bridgehampton home of the Papachristidis- Rudin families and raised $350,000.

ROB RICH/SOCIETYALLURE.COM,ROB L. RONALD GLASSMAN, NICOLA BAILEY, PATRICK MCMULLAN SEE MORE OF THIS WEEK’S SNAPS ONLINE AT CRAINSNEWYORK.COM/SNAPS GET YOUR GALA IN SNAPS. EMAIL THERESA AGOVINO, [email protected]

30 | CRAIN’S NEW YORK BUSINESS | JULY 25, 2016 20160725-NEWS--0031-NAT-CCI-CN_-- 7/22/2016 5:04 PM Page 1

PHOTO FINISH Franks’ beef with chicken n a hot July afternoon at the eastern edge of Washington Square Park, Hassan Abdelrahman doled out bottles Oof water and fielded questions about prices from behind his hot-dog cart. When a passerby decided to fork over $2 for a weiner, Abdelrahman placed one imprinted with the word “beef” inside a fresh bun. Keith Dorman, who wholesales the frankfurters under the brand Snap Dog, believes truth in advertising is the first step in raising the profile of the lowly hot dog. “Vendors want to make money and sell what’s cheapest,” Dorman said. “They have little regard for the quality.” That has driven some vendors to sell franks made of chicken meat and other parts. At 18 cents a link wholesale, hot dogs made from chicken meat and parts are a steal compared with 38-cent Snap Dogs. But Dorman hopes that labeling his frankfurters, which are made from steak trim- mings, will pressure other vendors to improve the quality of their products. “Most New Yorkers have pretty much given up on these guys,” Dorman said. “For tourists, how thick your accent is deter- mines what kind of hot dog you get.” — PETER D’AMATO PETER D’AMATO

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