Property Mogul Aiming for 2Nd Coup TW Cable Picks up the Phone

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INSIDE 40 UNDER FORTY NOMINATIONS TOP STORIES OPEN Why New York ON OCT. 31 should sell the Go to www.crainsnewyork. Javits Center ® OPINION, PAGE 12 com/40under40

VOL. XXVII, NO. 43 WWW.CRAINSNEWYORK.COM OCTOBER 24-30, 2011 PRICE: $3.00 Property

How to be in mogul business for 100 years or more aiming for SMALL BUSINESS, PAGE 3 Big Apple braces 2nd coup for 30% smaller Wall St. bonuses Andrew Farkas buys PAGE 3 battered pieces for Laurie Tisch gives juggernaut; now must Whitney $10M for get them to mesh education center BY THERESA AGOVINO NEW YORK, NEW YORK, P. 6 In the wake of the great real estate bust, a number of real estate investors have BUSINESS LIVES jumped back into the market, hoping to make a killing by snapping up beat- en-down assets. Few have been more aggressive than Andrew Farkas, founder, chairman and chief executive of real estate merchant bank Island Capital Group. Just last week, he bought a stake in Grubb & Ellis Co., a once prominent but now money-losing commercial property brokerage that may be delisted from the New York Stock Ex- MUTUAL AID change. That follows a torrid 18- SOCIETY: Activists, month buying spree in which he GOTHAM GIGS new and old, are See MOGUL on Page 26 Wafels & Dinges’ energizing each waffler in chief others’ causes. ● ANNE FISHER From Bowery flophouse to trendy hotel P. 27 buck ennis TW Cable ● MOVERS & SHAKERS The skinny on financial modeling P. 28 picks up ● GAEL GREENE Wong New kids for the bloc eatery is so right P. 30 the phone

INDEX Big Labor is recruiting Occupy Wall Street Looks to win business THE INSIDER ______8 protesters to spice up its tired campaigns customers away from NEIGHBORHOOD JOURNAL ______9 telecom rival Verizon REAL ESTATE DEALS PLUS ______20 clocks, readied video cameras and departed in small BY DANIEL MASSEY FOR THE RECORD ______21 groups into a steady rain,with plans to reunite on the seventh floor of the auction house at 10:32 a.m. BY MATTHEW FLAMM CLASSIFIEDS ______22 On a soggy day last week, 15 Occupy Wall Street As an auctioneer opened the bidding on Lot 443 EXECUTIVE MOVES ______27 protesters huddled in a Citibank ATM vestibule on of the Lily & Edma J. Safra collection—writer John Usually, people hate their cable com- THE WEEK AHEAD ______30 the Upper East Side.They rehearsed lines for a mock Morley’s Diderot and the Encyclopaedists—the “court pany. But for years the small business THE WEEK ON THE WEB ______31 trial of Sotheby’s,the art auction house that has been of the 99%” was called to order. The stunt ended tenants at The Old American Can

CHEAT SHEET ______31 locked in a dispute with 43 art handlers for nearly quickly,with security moving in, but not before pro- Factory complex in the Gowanus sec- three months.Then they synched up their cellphone See NEW KIDS FOR THE BLOC on Page 25 tion of Brooklyn complained about their slow DSL Internet connection and Verizon Communications’ poor customer service. REPORT NEXT-GEN BROKERS So earlier this year,the landlord,XØ P. 15 Projects Inc., switched the 100-tenant Making their mark in real estate complex to Time Warner Cable Busi- P. 19 ness Class—helping the 5-year-old di- Largest construction firms vision turn the tables on its phone com- NEWSPAPER See CABLE on Page 14 20111024-NEWS--0002,0003-NAT-CCI-CN_-- 10/21/2011 8:21 PM Page 1

IN BRIEF Cruise line sails into New York THE PRICE TAG FOR CLOSING DOWN THE OPERATIONS OF BANKRUPT SAINT VINCENT Catholic Medical Centers and settling its debts is nearly $50 million in professional with new services for tourists fees—and the bankruptcy case is still in full swing. SVCMC filed for bankruptcy protection on April 14, 2010, and through Hornblower Yachts MAKING WAVES: Aug. 31 of this year, a total of 14 law, The Hornblower accounting and consulting firms have billed launches company to tap Infinity will arrive the health system for a collective $48.8 here next year. million.The largest bill is from the consulting into resilient market; company that was hired by the hospital board 2 state-of-the-art boats in order to dismantle the health system and sell its assets. So far, Grant Thornton’s Corporate Advisory & Restructuring Services BY LISA FICKENSCHER practice has charged $18.4 million for its work, including negotiating the $260 million New York City’s waterways are attracting sale of the Saint Vincent’s Manhattan hospital boatloads of tourists—and now a new campus to the Rudin family. Not far behind cruise line. Grant Thornton is bankruptcy counsel San Francisco-based Hornblower Kramer Levin Naftalis & Frankel, which has Yachts Inc. is investing $20 million to run up a $16.1 million tab so far. All told, the launch a sightseeing and dinner cruise bankrupt health care system has been a company here, spurred by the strength of million-dollar client for six professional firms, the Big Apple’s tourism industry and signs while a seventh has billed just short of that: that corporate spending is returning. $998,592. Ⅲ “We wanted to enter the market after it had recovered from the trauma of the re- in 2007, when it won the 10-year, $340 before the recession. cession, and it is clearly coming back, par- million National Parks Service contract to Passenger volume to the historic land- BY THE NUMBERS ticularly corporate entertainment,” said ferry people to the Statue of Liberty and marks has remained flat over the past two Terry MacRae, chief executive of Horn- Ellis Island. Its winning bid bested Circle years, at 3.8 million, which Hornblower Weekly shift of the city’s economy blower, the largest dinner cruise company Line Downtown,which had held the Parks attributes to security screening measures in California. Service contract for the previous 54 years. that were implemented after Sept. 11. CAVEAT EURO From a big jump in a manufacturing One indication that demand for sight- Statue Cruises currently runs 12 boats. Even a new online reservation system that buck ennis index to slightly fewer jobless claims and dud seeing boats has increased is the city’s 6- “We knew we’d have the opportunity to allows visitors to prepay for their tickets loans on banks’ books, the picture at home improved, but Europe remains a potential killer. month-old ferry service on the East River, expand in New York,” said Mr. MacRae. and wait for shorter times has not done connecting Queens and Brook- The expansion into the dinner enough to boost passenger volumes, said lyn to midtown and the financial cruise business coincides with the Mr. MacRae, who added that there is de- #1 40% $7,782 district, which has attracted new Sept. 11 memorial, which is mand. And later this month, a yearlong JPMORGAN FLIGHTS into AVERAGE twice as many passengers and 3.8M attracting even more visitors to renovation of the Statue of Liberty will be CHASE’s rank by Newark airport monthly tourists as the city had expected. PASSENGERS lower Manhattan, where Horn- begin, closing off the interior of the mon- assets among that were late in rent in West visit the historic blower picks up passengers. And ument to the public and possibly deterring U.S. banks, August SoHo, highest State-of-the-art crafts next year, the September 11 Mu- some visitors from coming to the island. overtaking BofA Source: U.S. in city islands annually Source: SNL Department of Source: RentJuice The new company, Horn- seum will open. Financial Transportation blower New York, will boast two Two Statue Cruise boats will Long lines hurt sales state-of-the-art crafts. Horn- eventually be added to the new The Parks Service is looking at ways to UPPING THEIR BETS Venture capital firms have nearly blower Hybrid is a 600-passenger vessel operation, making a fleet of four vessels. improve the security system and reduce the tripled their investments in firms in the New York area in with energy-saving features such as hydro- The new unit will have 200 employees. A long lines, he added. the last year. gen fuel cells, solar panels and wind tur- veteran Circle Line World Yacht executive, Hornblower isn’t the only company ex- Amount invested, in millions Number of bines. It will begin hosting private parties Andreas Sappok, was tapped to be general panding its fleet. Classic Harbor Line, deals in November. Hornblower Infinity, with manager of the company. which operates pricey yachts and tall ships 3Q ’10 $334.9 87 four decks including a separate sun deck at But it is not all smooth sailing for out of Chelsea Pier, started out with one the top, can accommodate nearly twice as Hornblower. The company has been ship in 1998. Since 2006, it has added five 4Q ’10 $554.3 94 many passengers and is arriving here early stymied, for instance, in its efforts to grow more boats, including two this year. “New 1Q ’11 $629.6 82 next year. the Statue Cruises business beyond the York City is the strongest, most resilient 2Q ’11 $671.2 104 Hornblower entered the New York 10% bump in passengers it achieved when market,”said Sarah Greer,general manag- market with its Statue Cruises subsidiary it took over the Parks Service contract just er of the company. Ⅲ 3Q ’11 $891.1 103

Source: PricewaterhouseCoopers/National Venture Capital Association

ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY Homeless subsidy’s end augurs t CORRECTIONS SecondMarket expects to transact about $600 million this year Bloomberg pledged to slash homelessness 5% since May, the month after Advantage in private company stock. The amount was misstated in the Oct. Mayor falls far short of 17 story “Financial services: Going mobile transforms the money by two-thirds by 2009.However,after a se- ended. Between March and August, the av- biz.” goal to slash shelter rolls; ries of missteps, course corrections and erage length of stay of families at shelters bal- Greg Boyer is a managing director with PricewaterhouseCoopers’ advocates pan changes budget cuts, the city has abandoned its looned to 326 days from 278,a 17% increase, entertainment, media and communication practice. His name subsidy programs, including Advantage, though the median length of stay dropped. was misstated in the Oct. 17 story “Media: What users want, the program that helped Ms. Torres. In 2004,the Bloomberg administration when they want it.” BY SHANE DIXON KAVANAUGH charted a radical new course in homeless The title for the debut book from Siman Media Works is XCIA’s Programs ignore history, critics say policy. It began denying federal housing Street Art Project. It was misstated in an Oct. 17 “New York, New Vivian Torres has been homeless before. For the first time in decades,the city has vouchers and public housing priority to York” item. And the single mother could soon be again. no transitional housing support for the homeless families—a vast departure from A Joint Select Committee of Congress is charged with delivering a A housing subsidy helped Ms. Torres, homeless and no plans to create any. And the Koch, Dinkins and Giuliani adminis- plan for a $1.2 trillion reduction in the federal deficit by Nov. 23. The amount of the reduction was misstated in the Oct. 17 currently working part-time, and her 12- as the shelter population hovers around trations—and introduced a rent subsidy column “Business leaders speak their minds.” year-old son escape the city shelter system record highs, advocates predict homeless encouraging self-sufficiency. in 2009 and land a one-bedroom apart- figures will climb higher yet. The new program, Housing Stability vol. xxvii, no. 43, october 24, 2011—Crain’s New York Business (issn ment in Cypress Hills, Brooklyn. But her “The Department of Homeless Services Plus, provided a time-limited subsidy 8756-789x) is published weekly, except for double issues the weeks of July Fourth, Labor Day and Christmas, by Crain Communications subsidy expires at the end of this month, seems to be operating in a time warp,” said whose value declined by 20% a year. De- Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at she’s still searching for a full-time job and Steven Banks, the attorney in chief for the signed to ease recipients off benefits, it did New York, N.Y., and additional mailing offices. Postmaster: Send the city has killed the subsidy program. Legal Aid Society and lead lawyer in home- not work. By 2007, record numbers of address changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber serv- “The scariest part of it all,”said Ms.Tor- less family litigation against the city since the homeless families were entering the shel- ice: Call (877) 824-9379. Fax (313) 446-6777.$3.00 a copy, $99.95 one res, whose job at a domestic violence center 1980s. “Its policies fly in the face of every- ter system. The city abandoned Housing year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2011 by Crain Communications Inc. pays $10.67 an hour, “is if I go back [to a thing we’ve learned in the last 30 years.” Stability Plus that year and replaced it with All rights reserved. shelter] now, there would be no way out.” The Department of Homeless Services Advantage, which provided federal rent Seven years ago, Mayor Michael reports 9,760 families are in city shelters, up vouchers worth up to $1,000 a month to

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Wall St. pay cuts ERIC MODELL: His great-grandfather started the business that is now Modell will nick Financial Inc. rest of Gotham

BY AARON ELSTEIN

Last year,jewelry designer Tina Tang closed her West Village boutique to set up shop in the Limelight Market- place in the Flatiron district. Ms. Tang,a former Goldman Sachs trader whose handmade rings sell for up to $8,000 each, hoped the location further uptown would boost her sales. It didn’t work out. Shortly after she moved, her clientele of professional women and investment bankers looking to wow their girl- friends got slammed by this year’s buck ennis slowdown on Wall Street. She closed her store and is now focusing on selling her wares online. “Yes, I’m feeling it,” Ms. Tang said of the Wall Street slump. “Peo- The Century Club ple are really hunting for discounts.” Across the city, businesses that cater to high-end shoppers are start- who became president of Modell Financial Inc. ing to feel the pinch. The reason is How can a venture last 100 years or more? Ask last February. simple:These companies rely heavily “We’re looking forward to another 100 years on bankers, traders, money managers execs at these centenarian NY firms how it’s done in business,” he said. and their families showering some of Eric Modell is one of a small group of local their fabulous year-end bonus money business owners running companies, many fam- on luxury wares.But with Wall Street BY ANNE FIELD SMALL BUSINESS ily-owned, that are 100 years old or more. mired in a deep funk, bonuses are Among roughly 500 such businesses in the poised to come down for the fourth In the late 1880s, George Modell, an immigrant metro area, the majority are in New York City, year in the past five. from Russia, started selling jewelry, musical in- that dealt only in jewelry. When Louis became says Clint Blume, president of The Hundred Last week, as it reported a $428 struments and other wares from a pushcart on ill, his son Gerald, then a diamond dealer, took Year Association of New York—a group of for- million quarterly loss, Goldman the Lower East Side.By 1893,he’d parlayed that over. profit and nonprofit enterprises that have been Sachs disclosed that its bonus pool venture into a pawnshop. With 10 pawnshops throughout New York in operation for at least a century. is down 24% this year. At Morgan Seventy years later, his son Louis moved the City and in excess of $35 million in revenues,the Many share some notable characteristics that Stanley, the percentage of revenue business to the fledgling diamond district on profitable 55-employee enterprise is still going have contributed to their longevity,observes Ed- set aside for paying investment West 47th Street,turning the enterprise into one strong, according to Eric Modell, Gerald’s son, See SECRETS FROM on Page 13 bankers plunged in the third quarter to 24% from 52%.JPMorgan Chase said average pay per employee at its investment banking unit is down by from 5,439 during the same time period in 2008. $10,000 this year. Compensation The average hourly wage for those jobs is $8.65. consulting firm Johnson Associates s trouble “I applaud the Department of Homeless Ser- predicts that bonuses, which typi- vices’efforts to connect those in shelters with em- cally account for the vast majority of ployment,” said Bronx Councilwoman Annabel Wall Street pay,will decline by up to homeless people who found jobs. Palma, who chairs the council’s General Welfare 30% this year for senior executives. The program was a lifesaver for Ms. Torres, Committee. “However, these aren’t the types of See WALL STREET on Page 4 covering 60% of her $1,070 rent. But its strict jobs that will lift people out of poverty.” two-year time limit was not long enough for In fact,29% of families currently living in city many families who struggled to find jobs that shelters have at least one person working. But BONUS BUCKS paid enough to pay New York City’s high rents. those who aren’t in shelters and who are just Average Wall Street bonus, in Fueled by the recession, homelessness hit a gettyimages scraping by have ways to stay in their homes,Mr. thousands of dollars record high in 2010. The 113,553 people in city City says New Yorkers Diamond said. $200 shelters that year was 39% more than when Mr. “There are thousands of people in New York Bloomberg took office, according to the Coali- earning little can get City who live in apartments every day on entry- $160 tion for the Homeless. level wages,” Mr. Diamond said. “They do it by housing on their own living with other family members or sometimes $120 “A revolving door” taking in friends who have income.” “Unfortunately, Mayor Bloomberg experi- Ms. Torres, though, has no family in New mented with deeply flawed subsidy programs York. She remains hopeful that she’ll be able to $80 that became little more than a revolving door for support herself. $100* thousands of families and children,” said Patrick “Cramming people into an apartment like a $40 Markee,a senior policy analyst with the coalition. sufficiency.” pack of hot dogs is not a valid excuse,” she said at But Seth Diamond, the Homeless Services “The best resource,the most reliable resource, a job fair last week.“That’s not an example I want 0 commissioner, rejects advocates’ calls to use fed- even in the face of difficult economic times, has to show my son.” Ⅲ 1985 1998 2011 eral vouchers,which he called “uncertain,”and to been employment,” Mr. Diamond said. *Crain’s estimate. give the homeless priority for public housing.He The department has helped nearly 6,800 LISTEN to a discussion at Source: New York state comptroller’s office is instead focusing on “accountability and self- homeless men and women find work this year,up CrainsNewYork.com/podcasts

October 24, 2011 | Crain’s New York Business | 3 20111024-NEWS--0004-NAT-CCI-CN_-- 10/21/2011 6:38 PM Page 1

Perhaps the clearest signal came at an Oct. 12 auction for 19th-cen- Wall Street bonuses tury European paintings at Christie’s. More than half the lots IN THE MARKETS Continued from Page 3 who are better off is seeing a down- failed to move, and sales were only Even after the declines, pay will turn, of course. Carol Solomon, di- $6.6 million, including commis- still be impressive. The average rector of the New York Nanny Cen- sions,well below projections of up to by Aaron Elstein Goldman employee, for example, is ter,said business this year is running $12 million, according to Howard on pace to earn $390,000 this year,or ahead of last year’s pace. “We have Rehs, a midtown dealer who spe- seven times the median household more families looking for nannies cializes in European art. income in New York. Even a 30% and willing to pay appropriately Several auctions have disap- Will Carver shareholders decline in bonuses would put the av- than we have nannies looking for pointed lately, in no small part be- erage Wall Streeter’s bonus this year work,” she said. cause so many potential buyers have OK their bank’s rescue? at around $100,000, judging by last vanished, Mr. Rehs said. “The bro- year’s data from the New York state A slowdown for big-ticket stuff kers and mid-level bankers who udgment Day is Tuesday for Carver comptroller’s office.That would put But there are signs of a renewed have the ability to spend $15,000 or Bancorp, a fixture of the city’s payouts at levels seen in 2000, the slowdown in such big-ticket items $20,000, they’re not doing it.” business scene for 63 years frothiest year of the dot-com bubble. as real estate and art. The president and chairman for J Still, for businesses that cater to “Sales for apartments priced at Christie’s Americas, Marc Porter, and the nation’s bankers,the decline is painful.After $6 million or more—like TriBeCa said that Wall Streeters tend to largest bank founded all, the average Goldman employ- lofts or Upper East Side condos— spend most on modern and contem- and run by African- ee’s total pay was 69% higher just are on the weaker side,” said Marc porary art, plus diamonds and fine

four years ago. A year before that, Kunen, branch manager for the wines, adding that a jewelry auction Americans. On that flickr the average bonus on Wall Street Manhattan office of Mortgage last week exceeded expectations. day, investors will gather to vote on whether to approve a was nearly $200,000. Master, a lender. “As we head into our fall season of rescue package for the ailing bank—and it’s not a sure bet yet The decline in pay will also hit Mr.Kunen cited an apartment in major auctions in these categories,” that a requisite supermajority of them will do so. the fortunes of the city and state. the prestigious 700s stretch of Park Mr. Porter said, “we remain cau- The securities industry alone con- Avenue: The unit was put on the tiously optimistic, despite recent “This [is] the most important annual meeting in Carver’s history and will tributes 23.5% of all private-sector market for $9 million, then its ask- volatility in the global markets.” Ⅲ determine the future of YOUR institution,” Chief Executive Deborah Wright wages paid in the city, although it ing price was dropped, to a bit more (above) is telling shareholders on the telephone, according to a copy of her accounts for only 5.3% of jobs. than $7 million, but still no one has LISTEN to a discussion at calling script. Not everyone who serves those made an offer. CrainsNewYork.com/podcasts Carver, like many of the businesses, nonprofits and consumers it serves, was hit especially hard by the recession. It posted nearly $40 million in losses last year as it struggled with a huge amount of seriously delinquent loans, primarily real estate-related. It had $115 million in nonperforming loans as of June 30, but only $23 million in reserves. Earlier this year, federal regulators ordered the bank to raise capital. Ms. Wright, who sits on such elite boards as the Partnership for New York City and Time Warner, persuaded Goldman Sachs, Citigroup and many of the city’s other big financial institutions in June to invest $55 million in Carver. Ms. Wright wasn’t available for comment.But selling this package to shareholders appears to be a challenge. For starters, the deal would make the U.S. government Carver’s largest shareholder, with a 25% stake, because the feds would convert a stake they acquired upon providing the bank with $19 million in bailout money two years ago. Also, Carver’s existing stockholders would see their stakes mas- sively diluted because the bank would issue about 136 million new shares, We are pleased to announce up from the 2.5 million it now has outstanding. Compounding matters, Carver needs two-thirds of all investors to ap- the expansion of our prove a key provision of the rescue package, rather than a simple majority. What’s more, unvoted shares count as “no” votes. Getting the two-thirds could be tough. Ms. Wright can likely count on New York Office the support of institutions, such as the New York State Common Retirement Fund, which hold 41% of her bank’s stock, according to Institutional Shareholder Services. Ms. Wright and other Carver insiders collectively have about 4%. That’s quite some distance, however, from the support Carver needs, which explains why the bank has sent repeated letters and called shareholders this month urging them to vote. Aaron Abraham What if Ms. Wright, who has run Carver since 1999, can’t muster the vote? One sure thing is the dividend rate on its rescue financing will soar from zero to 12%, costing the bank $6.6 million in annual expenses. That’s a hefty burden for an operation that made about $5 million in its most prof- has joined our itable year. Oh, and Carver’s stock would also be delisted from Nasdaq, because it has traded for well under a dollar for so long. Shares could be had late last Construction Group week for around 50 cents. as a Director dex is down 22%, while the major The wow of the Dow indices in India are off 18%. Here’s a stat that’s impressive and For what it’s worth, the No. 2 depressing all at once: The top- performing stock market this year is performing stock market index in the Philippines’, down 0.82%. the world so far this year—weighing And right about now, Panama’s in with an absolutely uninspiring defenders are no doubt rising up to 1.4% gain—is none other than the point out that their stock market has Dow Jones industrial average. risen 20% this year.But that market, In fact,it’s the only major market consisting of just 13 securities, is index to be up this year,according to much too small to consider. Bloomberg data. Market mavens By the way, the folks at Bank of may tout the promise of China and America Merrill Lynch say the sin- other emerging markets, but those gle best trade this year has been to have been dismal investments in invest in Irish bonds (up 14%) and to 2011. Hong Kong’s Hang Seng In- sell short Greek stocks (down 55%).Ⅲ

SHARE OF BUSINESS LEADERS who expect hiring to be flat For more information about Goulston & Storrs NY Office, visit goulstonsorrs.com 57% or down next year, according to a survey of 125 of them by Thomson Reuters and Freeman Consulting Services.

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The art of the gift he Whitney Museum of American Art will soon be teaching TNew Yorkers a thing or two. Philanthropist Laurie Tisch is giving the institution $10 million to build an education wing in its new building going up in the meatpacking district. ¶ The Laurie M.Tisch Education Center will house a studio classroom, a seminar room, a community exhibition area and offices. It will allow the Whitney to expand its education program and offer classes for the first time within the museum walls, and give the public a chance to see artists at work. ¶ The gift is going toward the Whitney’s capital campaign to build a 200,000-square-foot home on Gansevoort Street, designed by Italian architect Renzo Piano. So far, the Whitney has raised a reported $500 million of the $720 million needed for the project, an amount that includes construction costs and an endowment. ¶ A longtime Whitney trustee and supporter of arts education, Ms.Tisch noted that public funds for arts education in New York have been drying up, “which makes institutions like the Whitney all the more essential.” She added that “there’s an imperative for donors to get involved.” ¶ The Whitney isn’t Ms.Tisch’s only recent beneficiary. Last week, her foundation, the Laurie M.Tisch Illumination Fund, announced a $75,000 grant to the New York Says Thank You Foundation.The organization will launch a project to instill in kids the positive lessons from a post-Sept. 11 world. Leaders at New York Says Thank You hope to encourage students in 2,800 middle and high schools across the United States to commit

newscom some time to volunteerism. —miriam kreinin souccar

Wilzig as partners. Other The gelt behind investors include Rick Smilow, borscht belt eatery president of the Institute of Culinary Education, where Mr. Persuading deep-pocketed Kutsher wrote his original investors to back a new restaurant business plan as a student. concept during a financial crisis is The restaurateur promises no picnic. But Zach Kutsher, whose that his eatery will have little in family owned the famous common with typical Jewish eponymous country club in the delis, which, he says, have failed Catskills, wrangled several, to innovate. including restaurateur Jeffrey “We’re something that

Chodorow, to help launch Kutsher’s doesn’t quite exist,” he said. “It’ll bloomberg news Tribeca. be Pastis meets Second Avenue Few in this world have the Deli—without the deli.” Halloween,” said EIC co-founder bona fides—or the courage—to —valerie block Sanford Wilk. create a “Jewish American bistro.” Lately, the firm has been trying But Mr. Kutsher believes that his to scare up some advertising family brand will lure the faithful. Scaring up dollars for the growing site. Expected to open Nov. 7, the ad dollars “We started out having to call upscale eatery will serve old everyone to get content,” said Mr. Looking for Halloween costumes, Wilk. “Now costume shops in decorations or parties? Go to other cities are calling us to be BooYork.org, which boasts a listed, but we’ve decided to keep comprehensive list of local everything local.” shops and even touts reviews —lisa fickenscher of the scariest haunted house tours.The 3-year-old website has become so popular—some POWER PLAYERS 400,000 will turn to the site favorites with a modern twist, for tips this year—that it just got a THE MOST ENERGY-EFFICIENT such as steak frites with schmaltz, trademark to protect its name. states in the U.S., according to and potato pancakes with three Another site unrelated to the 2011 State Energy Efficiency kinds of caviar (above). Halloween nabbed the .com Scorecard: “Selling yourself is hard,” said version. MASSACHUSETTS the 37-year-old former real estate Digital marketing firm EIC CALIFORNIA lawyer. “To get money from 10 Agency, known for developing NEW YORK people, you have to ask 100.” medical websites, created OREGON Mr. Kutsher has raised $1.8 BooYork for the love of the pagan million, and he counts Mr. holiday. VERMONT Source: American Council for an Energy-Efficient Chodorow, advertising guru “We have eight languages that Economy Richard Kirshenbaum, and family are spoken at our office, but at the friend and banking scion Alan end of the day, we all celebrate

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mark. “His economic development experience makes him uniquely MTA’S LHOTA Right for the moment THE INSIDER qualified to find not just a high- Joseph Lhota, nominated last week to become the next paying tenant but a tenant that will chief executive of the Metropolitan Transportation Authority, by Jeremy Smerd and Shane Dixon Kavanaugh grow the district and the economic came to his interview with the governor’s search committee power of the city,” said Juliette with a deep understanding of the agency’s dire finances. Michaelson, director of strategic He also knew who Dean Skelos and Sheldon Silver were. initiatives at the Regional Plan Given the multibillion-dollar shortfalls, political Association. Joseph Lhota obstacles and labor problems hobbling the agency, Mr. The association would like to Lhota was quickly seen as the best candidate. Moynihan Station see Mr. Cuomo use some of the “He came with a lot of local knowledge that an out-of- space to build a new convention towner simply wouldn’t have,” said one member of the 20- hall to replace the state-owned person committee. Another said: “Understanding New York Javits Center (see op-ed, Page 12). is as important as understanding how the trains run.” a Foye priority The project could be simultaneous The out-of-towner who was among the three finalists for with the first phase, allowing both the job, along with New York City Transit President Thomas atrick Foye’s appointment last week as executive to be completed by 2016—when Mr. Cuomo might be pursuing the Dean Skelos Prendergast, was Neil Peterson. director of the Port Authority of New York and White House. Mr. Peterson ran West Coast transit agencies, founded New Jersey was coupled with an announcement car-share company Flexcar, has a glass eye and is “an that the authority would take charge of the accomplished dancer,” according to his website. Though ‘No’ to colorful, he lacked Albany connections. Moynihan Station project.Transportation accountability Mr. Prendergast runs the subways and could have Padvocates took it as a sign that Mr. Foye (below) had helped mend union ties ahead of contract negotiations. persuaded Gov. Andrew Cuomo to make it a priority. Rep. Carolyn McCarthy, D-Long “He’s a working stiff,” an insider said. “Union members can Taking the reins from the Empire State Development Island, opposes a longstanding Andrew Cuomo relate to him.” Corp. allows the Port Authority to bring effort to make financial advisers In the end, Gov. Andrew Cuomo picked an even-keeled more accountable to clients. Most and rational manager, a conservative whose ties to Republican Rudy its construction management advisers don’t have a “fiduciary Giuliani may win over GOP senators bent on paring back the MTA’s payroll experience to bear on the $267 duty”: an obligation to act in a tax. Outgoing MTA chief Jay Walder was a technocrat who left politics to the million first phase of the project, client’s best interest.They must politicians. which will upgrade Moynihan’s only meet a “suitability standard,” Mr. Walder was hired to innovate. Poor MTA finances hurt those efforts, which allows them to pitch high- but the transit geek made improvements that led to a high-paying gig at a below-ground rail infrastructure. fee products that benefit their transit system known for being high-tech and efficient. “Lhota would never The wow factor is its second phase: firms, not necessarily the investor. have been hired by Hong Kong,” noted one transit executive. the transformation of the Farley Post A fiduciary duty “would raise the bar for what qualifies you to Office above into a train station and 2.5 give that advice, so it would make it million-square-foot development. more expensive and difficult to get disagrees. Its 2011 voter’s guide, This is where Mr. Foye, who had that advice,” Ms. McCarthy’s Millionaire’s tax released earlier this month, gives been Mr. Cuomo’s deputy spokesman said. and small business the Long Island Republican a Others argue that consumers failing grade for his support of secretary for economic often don’t realize when advice The state chapter of the National eight bills deemed environmentally

newscom development, could make his comes with ulterior motives. Federation of Independent Business harmful. One protected companies last week reiterated its opposition to that cause oil spills; another a millionaire’s tax, which the diverted $100 million in clean Assembly wants to continue for energy funding to fill budget gaps. filers earning at least $1 million. “Skelos has never been an “Raising income taxes on small environmental champion,” an businesses ... would be entirely self- Environmental Advocates defeating,” said Mike Durant, NFIB’s spokeswoman said. state director. But James Parrott, deputy director of the Fiscal Policy Stop-and-frisk Institute, said that of 880,000 nips at Kelly individual tax returns reporting small-business earnings or losses in Police Commissioner Raymond 2008, only 0.7% had adjusted gross Kelly’s strong approval ratings incomes of $1 million or more. But suggest minority voters care more the data excludes about low crime rates than partnerships, and Kathryn his controversial stop-and- Wylde, president of the frisk policy. Partnership for New York But Sen. Eric Adams, D- City, said the tax would Brooklyn, called the hurt legal and accounting numbers deceiving. firms and the like, and “The people who are chill high earners’ polled are not routinely spending on small stopped and frisked by businesses. Raymond Kelly police,” said Mr. Adams, a former NYPD precinct commander. Green groups In fact, polls show that people clash on Skelos who are stopped and frisked don’t like Mr. Kelly as much. Republican Senate Majority A Quinnipiac survey of voters Leader Dean Skelos was one of eight released last week shows that 51% of lawmakers named an “Eco-Star” African-Americans approve of the last week by the New York League police chief, while 39% disapprove. of Conservation Voters.The award His numbers among Hispanics— is for legislators who “went above who are stopped and frisked less and beyond” for the environment in often than blacks—are stronger, 58% 2011. to 26%. Whites, who are rarely Environmental Advocates of patted down, have the highest New York, another advocacy group, opinion of Mr. Kelly, 78% to 15%. Ⅲ

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8 | Crain’s New York Business | October 24, 2011 20111024-NEWS--0009-NAT-CCI-CN_-- 10/21/2011 12:41 PM Page 1

NEIGHBORHOOD JOURNAL Atlantic Ave. richer, but better?

ever. Three years ago, Rachel Lie- er Joe’s. Rents now start at $45 per that a number of long- Brooklyn artery has bowicz’s landlord told her that he square foot—a 10% increase from standing businesses Trader Joe’s, Barneys, was raising the rent on the two two years ago—but can run higher have recently gone storefronts that house Circa An- than $90. As a result, what was once under or downsized. plus much higher tiques to $4,700 a month from known as Atlantique Avenue, be- But the avenue’s rents, more traffic $1,900. In response, Ms. Liebowicz cause of its army of nearly 33 antique most famous pioneer AMBASSADOR’S RESIDENCE: Longtime and her husband consolidated their shops,is now home to only a handful. sees a decided upside to store owner Charlie Sahadi has seen the business into a single shop. the changes wrought in changes from his front window. BY REBECCA OLLES “We said, ‘We’re getting older, Ouster of the indies the area, and by Trad- and if business goes bad,we won’t be “Chains can pay more rent than er Joe’s in particular. ast month, the Atlantic able to pay this,’ ” she recalled. a mom-and-pop,” said Sandy Bal- “It’s a very big destination store,” people will mosey up and down the Avenue Local Develop- Some date the most recent spike boza, president of the Atlantic Ave- said Mr. Sahadi, whose store is street, and they will find Sahadi’s. ment Corp. named its in retail rents to the arrival of Trad- nue Betterment Association,noting across the avenue. “On a nice day, We’ve created a foodie paradise.” Ⅲ first “ambassador” of a prosperous 12-block Lstretch of the Brooklyn street, ex- tending up from the harbor all the way to Fourth Avenue. It gave the honor to longtime merchant and neighborhood booster Charlie Saha- di, citing him as a “pioneer symbol.” Good move. Virtually everyone agrees that in the 47 years since Mr. Sahadi took the reins of his family’s eponymous Middle Eastern grocery store, Atlantic Avenue has come a long way. It’s just that not everybody is happy about it. Arguably, the biggest changes have occurred in the highly traf- ficked block between Court and Clinton streets, where the avenue is the boundary between affluent Brooklyn Heights and Cobble Hill, which is only slightly less so.There, in the past three years, a trio of big- name stores have opened their doors. First, Trader Joe’s moved in, followed by Urban Outfitters and then,in the summer of 2010,by Bar- neys New York Co-op. Elsewhere on the strip, shops selling everything from high-end chocolate to furniture have blos- somed—along with a smorgasbord of increasingly ambitious, pricey restaurants and bars, with names such as Bacchus and Deity. What a difference 15 years make Even Mr.Sahadi admits that he’s surprised by just how far the avenue has come. “Fifteen years ago, if anybody told me Barneys is going to be across the street, I would have told them to go to the shrink and get their head examined,” he said. “It’s mind-bog- gling. Brooklyn is hot, and Atlantic Avenue is the center of the activity.” That’s a big shift for the area, which was formerly the center of one of the nation’s largest communities hailing from the Middle East. Right up through the 1980s, the neighborhood was famous for its profusion of small restaurants and bakeries from that part of the world. Beyond that, there was a sprinkling of antique stores and a host of neighborhood bars and restaurants known more for their convivial at- mosphere than their food and drink. But as the surrounding area has gentrified in recent years, the retail mix has changed as well. “The bar has been raised in dining and drinking,”said John McGill, who opened his coffee and tea store, Two for the Pot, just off the avenue in 1973. Progress comes at a cost, how-

October 24, 2011 | Crain’s New York Business | 9 20111024-NEWS--0010-NAT-CCI-CN_-- 10/21/2011 2:42 PM Page 1

VIEWPOINT NYC: next great tech hub editor in chief Rance Crain publisher, vp Jill R. Kaplan he competition to build a tech campus in The city’s request for proposals has prodded Columbia and EDITORIAL the city has turned into an embarrassment NYU to accelerate and amplify existing plans.The addition editor Xana Antunes managing editor Glenn Coleman of riches for the Bloomberg of Stanford or Cornell would be a game-changer: Stanford’s deputy managing editors Valerie Block, administration. So many exciting prestige and engineering pedigree are unsurpassed, and Erik Ipsen assistant managing editor Erik Engquist proposals are coming to the fore that City Ithaca-based Cornell has a top-notch engineering school senior producer, projects Kira Bindrim Hall finds itself with a happy problem: and an intimate knowledge of the city’s tech sector. Cornell’s senior producer, news Elisabeth Butler Cordova contributing editor how to accommodate them all. partner, the Technion-Israel Institute of Technology, was key Elaine Pofeldt The original idea was to pick one plan for an applied- to creating Israel’s renowned tech industry. columnists Greg David, Michael Gross, Alair Townsend sciences campus on Governors Island or Roosevelt Island, or Rather than compete with each other, multiple tech pulse editor Barbara Benson T senior reporters Theresa Agovino, at the Brooklyn Navy Yard. But talk of having two winners campuses would create a critical mass that would draw top Aaron Elstein, Lisa Fickenscher, surfaced last summer when it became clear that bids from students and faculty from all over the world. Mayor Bloom- Matthew Flamm, Miriam Kreinin Souccar Stanford University and Cornell University would each be berg’s notion that the reporters Amanda Fung, Shane Dixon Kavanaugh, Daniel Massey, Adrianne Pasquarelli, incredibly beneficial for the city. Top universities city could be another Jeremy Smerd It wasn’t a two-horse race for long, though. New York Silicon Valley suddenly reporter/producer Emily Laermer vie to make art director Steven Krupinski University, Columbia University and Carnegie Mellon have seems like a lot more deputy art director Carolyn McClain unveiled plans that complement Stanford’s and Cornell’s. than wishful thinking. staff photographer Buck Ennis NYC the next copy desk chief Wendy Zuckerman NYU’s includes an impressive array of partners: CUNY, But the mayor faces copy editor Thaddeus Rutkowski Carnegie Mellon, the University of Toronto, England’s Silicon Valley logistical and financial research editor Dana Gordon assistant research editor Suzanne Panara University of Warwick and the Indian Institute of challenges. What research interns Callie Eidler, Helen Kwong Technology, Bombay; plus IBM, AECOM, Siemens, Cisco Columbia, NYU and editorial intern Rebecca Olles Systems and others. NYU is pitching a 450,000-square-foot Carnegie Mellon need EDITORIAL AND ADVERTISING OFFICES campus at an underutilized city-owned building across from from the city seems 711 Third Ave., New York, NY 10017-5806 editorial: 212.210.0277 Fax: 212.210.0799 Polytechnic Institute of NYU.That could give rise to a tech modest, but can he also say yes to Stanford and Cornell, both advertising: 212.210.0711 hub in downtown Brooklyn: the city’s third-largest business of which want to build on Roosevelt Island? Persuading one Cable craincom nyk district, but one that hasn’t nearly reached its potential. to take Governors Island or the Brooklyn Navy Yard, which Fax: 212.210.0499 Entire contents ©copyright 2011 Crain The centerpiece of NYU’s new campus—technology that they have deemed less viable, will be hard. Communications Inc. All rights reserved. makes cities more efficient—is also a focus of Columbia’s ®CityBusiness is a registered trademark of MCP Furthermore, the city is offering only $100 million in Inc., used under license agreement. proposed 1 million-square-foot data science institute at its infrastructure work to support the new campuses.The city TO SUBSCRIBE: emerging Manhattanville campus.The graduate school may be stretched to deliver on its side of the bargain if it is For subscription information and delivery concerns, would feature new media, cybersecurity, finance and health dealing with multiple proposals, pushing the start of please email [email protected] or call 877-824-9379 (in the U.S. and Canada) or 313- analytics, all industries that will provide the jobs of the future. construction beyond the end of the mayor’s term in 2013. 446-0450 (all other locations.) $3.00 a copy, $99.95 one year, $179.95 two years. Carnegie Mellon would also collaborate with Steiner Yet the city’s chance to supercharge its tech sector is too www.crainsnewyork.com

Studios to build an entertainment technology center great to pass up any proposal that advances that goal.The ADVERTISING AND MARKETING adjacent to Steiner’s home at the Brooklyn Navy Yard. mayor must find a way. advertising director Trish Henry senior account managers Irene Bar-Am, Courtney McCombs, Sheryl Rose, Suzanne Wilson sales manager, classified CRAIN’S ONLINE POLL COMMENTS print & online John Gallagher sales coordinator print & online Danielle Wiener SHOULD PRIVATELY newsletter product manager Alexis Sinclair OWNED PLAZAS AND credit Todd J. Masura 313.446.6097 Questions and answers marketing manager Sabra Harrison PARKS BE ALLOWED TO director, audience development FUEL FOR THOUGHT Michael O’Connor SET THEIR OWN HOURS? to a disability pension. reprint sales manager Lauren Melesio Re “With its gas stations closing, Manhattan’s —karl fassberger director of online and e-commerce Date of poll: Oct. 20 running on empty” (Oct. 10): Since this shortage Retired from FDNY 155 votes strategy Kristi Serrano seems to be an example of market failure, might web developer, interactive it be possible for the city to work with private FOR GOD’S SAKE Chris O’Donnell companies to create roadside filling stations? I NEW YORK PRODUCTION 33% would imagine that many bus stops are not in use Re “Hallelujah! Jehovah’s Witnesses’ land sell- production and pre-press director No for more than 20% of the day. Perhaps there is off has Brooklyn dreaming big” (Oct. 17): Why Michael Corsi room to set up miniature filling stations, do some readers have a problem with anyone advertising production manager 67% specifically for yellow cabs and livery cabs. else selling their property? Jehovah’s Witnesses Suzanne Fleischman Wies Yes —jacob felson have owned most of that property for more than PUBLISHED BY CRAIN COMMUNICATIONS INC. 50 years; now they are selling up. chairman Keith E. Crain FIRED UP Who gets rich from it? Not the Jehovah’s president Rance Crain Witnesses’ governing body.The money goes to secretary Merrilee Crain Re “Fire Department pensions near $90,000, new building projects and the printing of treasurer Mary Kay Crain data show” (CrainsNewYork.com): What is literature.This whole deal is a win-win situation executive vp, operations William Morrow the main reason for the disparity between New for all concerned, except those who have an senior vp, group publisher Gloria Scoby York City police and firefighter pensions? It’s inborn hatred of the Jehovah’s Witnesses. group vp, technology, circulation, manufacturing Robert C. Adams that a police officer is much more likely to —raymond davis vice president/production & serve only the minimum 20 years of service Compass CADD Services manufacturing David Kamis and less likely to receive a 75% disability chief information officer Paul Dalpiaz pension than a firefighter, due to the different CRAIN’S WELCOMES SUBMISSIONS to its opinion founder G.D. Crain Jr. (1885-1973) nature of their jobs. pages. Send letters to [email protected]. chairman Mrs. G.D. Crain Jr. (1911-1996) For this week’s questions: Go to To clear up some more misinformation, a Send columns of 475 words or fewer to to have your say. cop or firefighter on disability doesn’t have to [email protected]. Please include the writer’s look like a cripple to be rightfully entitled name, company, address and telephone number.

10 | Crain’s New York Business | October 24, 2011 20111024-NEWS--0011-NAT-CCI-CN_-- 10/21/2011 12:43 PM Page 1

OPINION

HOW MUCH THE RICHEST Should the rich PAY IN TAXES Federal income tax 38% NYS income tax 41% pay all the taxes? NYC income tax 40% HOW MUCH THE LEAST WELL- OFF PAY IN TAXES he burgeoning Occupy Wall Street movement is Federal income tax 3% protesting the dismal economy (and it is right about that),the growing inequality in America and NYS income tax 5% especially New York (it is mostly right about that), NYC Income Tax 10% and the failure of the rich to pay their fair share of Federal data from National Taxpayers Union for top 1% and bottom 50%. State data taxes. Fair is in the eyes of the beholder, of course, but the rich from Empire Center for top 1% and those T with income less than $50,000. City data do pay a lot in taxes. from Independent Budget Office for those making more than $1 million and less than The dismal state of the economy is obvious to all,and it is true $50,000.

that the income gap has the wealthy pay the vast widened in the United majority of taxes. posed a new 3.8% tax on so-called States over the past two As the chart shows, unearned income,like dividends and decades and that in- the wealthiest 1% of capital gains, for families making equality is most extreme Americans pay a lot. more than $250,000. He has floated in New York. A Fiscal Even more telling is that numerous schemes to increase in- Policy Institute study the top 10% of house- come taxes on families making more released late last year holds pay 70% of all in- than $250,000 or more than $1 mil- showed that nationally, come taxes. Not only do lion,depending on the politics of the the top 1% earned 23% the bottom 50% of moment. Last week, Assembly of total income in 2007, Americans pay very little Speaker Sheldon Silver again de- compared with 13% in GREG income tax; most of manded that the misnamed million- 1987. DAVID them paid no federal in- aire’s tax in New York state not be al- Here in New York, come tax. (If they work, lowed to lapse at the end of the year. the top 1% accounted they pay Social Security The tax has applied to families that for 44% of the income taxes like everyone else.) make more than $300,000;the latest in the city in 2007, up from 17% in The tax payments aren’t as proposal would raise that to $1 mil- 1987.The bottom 90% of New York skewed in New York, although the lion. The City Council would hike households accounted for 34% of rich send a lot to Albany and to City the city’s income tax if Mayor income in 2007, compared with Hall, as the chart shows. Bloomberg didn’t stand in the way. 59% in 1987. The protesters,President Obama Should the rich pay all the taxes? Despite what the occupiers of and many others say enough is not That’s what the Occupiers think. Wall Street think, this also means enough. Mr. Obama has already im- Do you agree?

tion to finance the necessary large- scale investments in the U.S. for Telecom merger is T-Mobile to remain competitive.” Crucially, the merger will help create jobs at a time of chronically high levels of unemployment. The a good call for all Economic Policy Institute has estimated that AT&T’s planned broadband expansion will create 96,000 BY CHRIS SHELTON new jobs. Wireless is a hot industry. It is also significant that AT&T his may come as a surprise,but the labor movement is the only unionized wireless com- supports the merger between AT&T and T-Mo- pany in the country. It allows workers to make decisions about whether bile. Why? Because it will provide enormous ben- to unionize or not,free of anti-union efits to both consumers and workers. The new propaganda. If this merger is ap- company will speed up the buildout of the most ad- proved, roughly 20,000 of T-Mo- vanced telecommunications networks to millions of unserved bile’s workers will come under the T umbrella of AT&T’s policy of neu- Americans—more than half a million people in New York state trality toward union representation. lack access to broadband—and will strengthen the rights of Merger skeptics rest their case on a projected loss of competition. But workers in the wireless industry. spectrum superhighway.Broadband in fact, competition will remain ro- AT&T’s merger with T-Mobile has already transformed the way we bust in the wireless industry, prices will greatly enhance the capacity to live, work and play, and as it contin- will continue to fall—for example, build the next-generation wireless ues to evolve, the strength of the Nielsen’s Customer Value Metrics broadband network—capable of AT&T network will have a trans- estimates that the price of down- supporting more phone calls, text formative impact on our economy. loading a megabyte of data has fall- messages, video downloads and on- Opponents raise the specter of an en to 5 cents from 47 cents in the line research—for New Yorkers and AT&T-Verizon duopoly, but com- past 18 months—and workers and Americans in every state. The new petition will remain intense from consumers will benefit from a company plans to invest an addition- Sprint and low-cost carriers like stronger, more worker-friendly al $8 billion to extend its 4G network MetroPCS and Clear.Just look at the market leader.That’s why the merg- to cover approximately 97% of the daily deluge of newspaper ads and er deserves support from legislators, country—55 million more people TV spots.And a stand-alone T-Mo- regulators and the public. than AT&T would have been able to bile is simply not an option. T-Mo- reach on its own.It helps that T-Mo- bile’s CEO,Phillip Humm,testified Chris Shelton is international vice president bile and AT&T use the same tech- before a U.S.Senate Committee last for District 1 of the Communications Work- nology;their merger will turn a two- spring that “T-Mobile’s parent, ers of America, covering 160,000 workers lane spectrum road into a four-lane Deutsche Telekom, is not in a posi- from New Jersey to Maine.

October 24, 2011 | Crain’s New York Business | 11 20111024-NEWS--0012-NAT-CCI-CN_-- 10/20/2011 6:50 PM Page 1

OPINION

Selling Javits would allow New York to separate the roles of trade The case to sell show venue and congress center into facilities designed for these very different functions—as Hong Kong, London, Milan and Tokyo the Javits Center have done. Like those places, New York could sustain a regional network of smaller conference centers BY HOPE COHEN (for example, in the business districts of Newark, Stamford, Conn., ulking and obsolete,the Jacob K.Javits Conven- and Jamaica, Queens, as well as tion Center may not look like a well-stuffed pig- Manhattan), along with a large trade show hall outside the central gy bank. business district. But it is. Or could be. For a new million-square-foot At a recent meeting of Gov.Andrew Cuomo’s convention center, two sites in Regional Economic Development Council for New York City, Queens offer the highway and air- H port access necessary for trade Regional Plan Association President Robert Yaro proposed sell- shows:Willets Point and the former ing Javits for redevelopment—netting the state $4 billion. Aqueduct Racetrack. Willets Point is a 61-acre rede- Those proceeds would pay for by the Javits Center ($500 million). velopment area near La Guardia l four new investments that would re- Building a 1 million-square- Airport. Aqueduct is a 200-acre site buck ennis solve New York City’s long-vexing foot, world-class trade and con- located five miles from JFK. lack of high-quality convention and sumer show facility at Willets Point Genting Group is developing a raci- that have long bypassed New York with direct access to a wide array of meeting space, at no public cost: or at the former Aqueduct Race- no there—keeping the historic race- for places like Las Vegas, Phoenix transportation options. l Completing the Moynihan track in Queens ($1 billion). track, turning the grandstand into a and San Diego. Selling the Javits Center is an Station infrastructure ($1 billion). An eight-block obstacle to pub- casino and eventually building a ho- The western half of the Farley idea whose time should come. It l Building a state-of-the-art lic access to the Hudson River, the tel. This past summer, Genting Post Office, located on Ninth Av- would help the region take big steps conference, or “congress,” center in Javits Center has never adequately opened the door to developing a enue between West 31st and West forward, and would show that the western portion of the Farley met the needs of New York’s impor- convention center on the site. 33rd streets, could accommodate thinking and building big is indeed Post Office, alongside Moynihan tant conference, convention and A congress center—a place for such a center. It has room for still possible in New York. Station ($500 million). trade show industry. It’s too small high-end business and professional 400,000 square feet of exhibit and l Installing the streets, sewers for most consumer and trade shows meetings—requires a relatively meeting room space in the nation’s Hope Cohen is New York director for the and sidewalks required to develop and too inaccessible and expensive modest 300,000 to 500,000 square most concentrated business, retail, Regional Plan Association and associate the multiblock area now occupied for conferences. feet to attract the lucrative meetings entertainment and tourist district— director of its Center for Urban Innovation.

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12 | Crain’s New York Business | October 24, 2011 20111024-NEWS--0013-NAT-CCI-CN_-- 10/21/2011 3:46 PM Page 1

company principal is involved in ed to get his feet wet working in the every construction project. factory as a teenager. Secrets from the Century Club “We make sure the workload is at As for Eric Modell, he took a job a level where we can ensure that as a management consultant with Continued from Page 3 In 1886, Irish immigrant John company, with about 22 employees, consistently happens,” he said. PricewaterhouseCoopers after ward Rogoff, chair of the Depart- Gallin started his construction brought in roughly $60 million in As for Long’s Bedding,“There is graduating from college. Then, 10 ment of Manage- company, John Gallin revenues last year. always a family member in the years ago, knowing he wanted to ment at Baruch Col- & Son,to specialize in store,”said Mr.Long,whose daugh- change careers, he consulted his fa- lege’s Zicklin School Adapting commercial interior TIP FOUR ter, Terri—who hopes one day to ther for advice. of Business. and growing alterations. Now run They remain in touch with the take over from her father—joined Over a two-hour lunch, much to “They’re flexible, by President Mark customer. the company 14 years ago. his surprise, Modell père suggested they’re hands-on and Varian—who is a that Eric join the business in a man- they run their busi- in upturns, Gallin descendant— Efforts by management to stay in TIP FIVE agement position, discussing every- nesses conservative- downturns and three of his the trenches have also played a part They engage the next thing from the importance of carry- ly,” he said. cousins, the company in these companies’ ability to last, generation. ing on the family legacy to the To be sure, simply has never veered from keeping executives in touch with the appeal of working for a small firm. surviving for 100 that focus. realities of the market and what cus- These enterprises have also figured After thinking it over for a week, years isn’t a sign of “We have kept tomers want. out a way to beat the odds and attract Mr.Modell decided to accept his fa- success. The real test is whether the within our niche, doing what we According to John Gallin & young generations to the family ther’s offer. companies have been able to adapt know best,” said Mr. Varian, whose Sons’ Mr. Varian, for example, one business. Mr. Long, for one, decid- “I have no regrets,” he said. Ⅲ and even grow during both upturns and downturns. These hardy enterprises offer valuable lessons for small business owners looking at how to make their businesses last. TIP ONE They’re receptive to change. One factor contributing to the long lives of these enterprises has been their owners’ willingness to adapt their strategies or business models to an evolving marketplace. For instance, Long’s Bedding & Interiors started out in 1911 as a Harlem factory that refurbished and manufactured mattresses, dur- Your legacy ing an era when consumers usually bought renovated, not newly made, can last forever. mattresses. As times changed, Harry Long, the son of founder Max Long, saw Unfortunately, this greater growth potential in becom- ing a retailer. In 1936, he opened a opportunity won’t. store on the Upper West Side to sell his products; eventually, he closed the plant in order to focus entirely on retail. Now run by Harry’s son Bob,who took over in 1963, the profitable 12- employee company posted gross sales of well over $3 million last year. TIP TWO They understand the demands imposed by their hometown. In some cases, an ability to adapt to New York’s unique environment— including its space limitations—has been essential to long-term success. When George Modell founded his family’s business, he started out There is a unique gifting opportunity in effect right now that allows you to transfer eschewing large items because he TAX-FREE didn’t have room to store such GIFTING goods. That necessity also played a signiﬁcant assets to your heirs tax free. But it expires at the end of 2012. So now is part in his son’s decision to focus only on jewelry, which doesn’t take up a lot of room—although the de- the time to sit down with Wilmington Trust. Our trusted advisors have been helping families sustain sire to specialize was also important. “Storing a bunch of musical instruments or power tools is very dif- wealth for generations. Let us help you ensure your legacy lives on. Call Larry Gore at 212.415.0520 ficult in New York,” said Eric Mod- ell. “Plus, I’m happy to deal with materials I’m an expert in and leave or visit wilmingtontrust.com/gift. it at that.” TIP THREE They never forget what they’re best at doing. While they remain flexible, these firms’ leaders have generally stuck WEALTH ADVISORY SERVICES with their core competencies.

October 24, 2011 | Crain’s New York Business | 13 20111024-NEWS--0014-NAT-CCI-CN_-- 10/21/2011 3:47 PM Page 1

services sales shot up 35%, compared with the year-earlier period, TALE OF THE TAPE TW Cable on phone to $361 million. The company’s bread and butter—residential sales TIME WARNER CABLE VERIZON Continued from Page 1 Cable as it looks to bring broad- of television, broadband and phone Television subscribers 12.3 million 3.5 million pany rival, which has been compet- band, Internet phone service and service—grew just 2.5%, to $4.3 ing for cable television customers high-speed mobile access to the billion. Company revenue $19 billion $107 billion with its FiOS service. business market. With price-con- Time Warner Cable will report Business services $1.3 billion $15.7 billion “We did a survey in the build- scious viewers cutting back on cable third-quarter results on Thursday. All numbers are as of year-end 2010. Source: Company reports ing, and [tenants] were unani- TV subscriptions, Business Class Mr. Fitzpatrick said that he expects mously unhappy with Verizon,” has emerged as the company’s new- double-digit growth in his division said an XØ Projects spokesman. est source of growth. to continue at least for the next year. revenues dwarf the new player’s, Molnar, the Verizon executive who He added that Time Warner Ca- Time Warner Cable’s business though they fell 5.5%, to $670 mil- oversees small business sales for the ble’s broadband service has had its Taking market share sales are still tiny, compared with lion, reflecting competition from Northeast.She added that the com- glitches over the past nine months, “We’re taking market share,” its far more entrenched rival’s.In the cable operators around the country. pany remains focused on its FiOS but that the company has been said Ken Fitzpatrick, president of third quarter, Verizon’s global en- The phone giant, however, is not service and “continues to win new much more responsive to com- business services for Time Warner terprise revenue from large corpo- giving up customers without a customers in New York.” Verizon plaints than Verizon. Cable’s Eastern region. “And we’re rate customers was up 2.1%, to $3.9 fight. currently has 4 million TV sub- That focus on service has been a doing it at a pretty quick pace.” billion. “There have been improvements scribers.Time Warner Cable has 12 key selling point for Time Warner In the second quarter, business Even Verizon’s small business to our DSL networks,” said Susan million. To build its business service, Time Warner Cable started out tar- geting small businesses whose needs for phone and broadband service were similar to those of residential customers. But Business Class has nearly doubled its employee head count to 500 in the past two years and is now aiming at medium-size and larger businesses and specific business categories. Our Service is Legendary. Last month, it began a trial run of a service for health care providers in Maine that will roll out in New York and other regions next year. OUR DEDICATED PROFESSIONALS “There’s a lot of market out there for them to gain,” said Aaron Blazar, a vice president at telecom- ARE REAL. munications research company At- lantic-ACM. Still, Time Warner Cable has a long way to go if it’s ever to compete at the high end of the market. Ver- izon and AT&T can offer national and global networks that go beyond what a regionally focused cable operator can manage. “A very large enterprise customer would not be choosing a cable operator,” said Mike McCor- mack, a senior analyst at Nomura sDedicated Small Business Securities.“To become a big player, Relationship Manager [Time Warner Cable] would have to resort to M&A.” sLonger Hours that Work Missing mobile phone offering with Your Schedule In addition, Time Warner Ca- ble, unlike its telecom rivals, has no sConvenient Online Access mobile phone offering. That could make a difference down the road as with TD Bank BusinessDirect competitors bundle smartphone service with the rest of their busi- sWe’re Ready to Lend ness package. “That’s still evolving, but as wireless becomes more inte- When You’re Ready to Borrow grated, that becomes more of an issue,”said Bruce McGregor,a senior analyst at Current Analysis. The company also needs to stay PUT THE POWER OF TD BANK focused on service. Mr. McGregor TO WORK FOR YOU. points out that for 2011, J.D. Pow- er rated Time Warner Cable Busi- To speak with a Small Business ness Class average or below average Relationship Manager, call 1-888-751-9000 for customer satisfaction. or visit www.tdbank.com/smallbusiness “I use that as a rallying cry,” Mr. Fitzpatrick said. “My goal is to accept a J.D. Power award.” He doesn’t see a disadvantage in not having cell phones, noting that Time Warner Cable offers 4G wireless Internet service, which he says is more critical for business.He adds that relationships with other cable operators allow the company to offer big corporate customers a national network. “Year to date, we’ve invested the dollars to bring 56 million square feet of office space TD Bank, N.A. | Some fees and restrictions may apply. Loans subject to credit approval. | Equal Housing Lender | TD Bank Group is a trade name for The Toronto-Dominion Bank. Used with permission. For detailed credit ratings for The onto our network in the New York Toronto-Dominion Bank and TD Bank, N.A. visit https://www.td.com/investor/credit.jsp. Credit Ratings are not recommendations to purchase, sell, or hold a ﬁ nancial obligation inasmuch as they do not comment on market price or suitability for a particular investor. Ratings are subject to revision or withdrawal at any time by the rating organization. metro area,” Mr. Fitzpatrick said. “We’re doing that every year.” Ⅲ

14 | Crain’s New York Business | October 24, 2011 20111024-NEWS--0015-NAT-CCI-CN_-- 10/20/2011 4:43 PM Page 1

INSIDE Largest construction companies in the NY area PAGE 19 Real Estate Deals Plus Global market jitters slow the pacing of commercial building sales in New York City PAGE 20

ON THE COMMERCIAL SIDE: Clark Finney, Cushman & Wakefield; RESIDENTIAL ROUNDUP: Ari Harkov, Halstead; Danielle Wagner, Robin Fisher, Newmark Knight Frank; Anthony LoPresti, CBRE; Alexis Brown Harris Stevens; Jay Glazer, Warburg Realty; Jared Seligman, Tener, Jones Lang LaSalle; and Michael Mathias, Studley (from left) Prudential Douglas Elliman; and Nick Gavin, Corcoran (from left) photos: buck ennis Property’s next gen

HAPPILY, IN MANY RESPECTS, life isn’t what it in a shoe box on his desk. Revealed: 10 brokers used to be for newbie brokers.Newmark Knight Frank INSIDE Today’s young brokers—commercial and residential Chief Executive Barry Gossin chuckles as he recalls COMMERCIAL alike—begin their careers with resources their prede- how,as a fledgling broker,he sneaked into the Chrysler BROKERS Five cessors could not have dreamed of even 10 years ago. under the age of 30 who are making Building back in the 1970s to glean information on the their mark They have iPhones and iPads along with social-media who are fast risers in a tower’s tenants, only to be escorted out by the build- Page 16 sites such as LinkedIn and Twitter. ing’s owner. RESIDENTIAL Amassing and even analyzing data is now a snap. “I didn’t even know who the guy was,” said Mr. BROKERS Their Residential brokers can use social media to tap into their marketplace increasingly rise from novices Gossin. to key players own personal networks to drum up business. But that was before CoStar and Google, back in an Page 18 Meanwhile, free-flowing company news allows infused with technology era when Mr. Gossin literally kept market information See UP-AND-COMERS on Page 16

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October 24, 2011 | Crain’s New York Business | 15 20111024-NEWS--0016-NAT-CCI-CN_-- 10/20/2011 4:46 PM Page 1

REPORT COMMERCIAL REAL ESTA TE Profiles by Theresa Agovino Clark Finney, 28 triple the space a candle-maker Finney won the Real Estate Board client had in midtown while leaving of New York’s coveted Most Up-and- Cushman & Wakefield, associate the rent unchanged. The client was Promising Commercial Salesperson director ultimately satisfied, though Mr. of the Year award in 2009. START DATE January 2007 Finney had to work creatively and “In this business, you have to get comers HIGHEST DEGREE/SCHOOL persuasively to accomplish that. people to think outside the box,”said B.S., Washington & Lee Mr. Finney said that Nest Fra- the Baltimore native, who started a FAVORITE BAND Kings of Leon grances was unhappy with the mid- foundation in 2008 with four friends Continued from Page 15 town offerings but resisted his sug- that funds charities for children. commercial brokers to home in on FAVORITE RESTAURANT Supper gestion to relocate to the More recently,he has had a hand firms that might actually need their PREFERRED SOCIAL MEDIA OUTLET Starrett-Lehigh building in far west in some of the biggest transactions services instead of just opening the Facebook Chelsea. Eventually, he won the in the city,including Nomura’s leas- phone book and hoping for the IF NOT A BROKER? A trader, client over because the price on the ing of 900,000 square feet at World- best. something fast-paced 13,000-square-foot space was right wide Plaza this year. Yet with everyone using the and the property’s high ceilings and “I like the team aspect of the same tools, standing out becomes ne of Clark Finney’s first as- large windows provided an artsy set- business,” said Mr. Finney, who harder. For commercial brokers, Osignments was like one out ting befitting a creative firm. played lacrosse in college and high what might have been a 40-page of Mission Impossible: to That deal is one reason Mr. school. lease for a midsize deal 20 years ago is now double that—which is one reason why more new brokers boast 29 Manhattan native.“And it was so re- 28 a law degree or an M.B.A. Robin Fisher, warding.” Anthony LoPresti, Residential brokers, meanwhile, Newmark Knight Frank, Even better, that moment came CB Richard Ellis Inc., senior associate increasingly find themselves com- managing director just a few months after Ms. Fisher START DATE August 2008 peting with technology.These days, START DATE October 2004 had decided to start her own team at HIGHEST websites such as StreetEasy.com HIGHEST DEGREE/SCHOOL B.A., Newmark. She had spent six years DEGREE/SCHOOL make it easy for apartment hunters Cornell University learning the ropes, working under J.D./St. John’s to find places without ever contact- senior brokers. In all, she’d had a FAVORITE BAND Tom Petty & the Law School ing, much less paying, a broker. As a hand in more than 200 deals—for Heartbreakers FAVORITE BAND Pearl Jam result,residential brokers are willing clients ranging from Hale and to widen their net to include not just FAVORITE RESTAURANT Blue Ribbon Hearty to TheaterMania.com—a FAVORITE RESTAURANT Bobby other boroughs but also rentals in Sushi performance good enough to land Van’s addition to sales. PREFERRED SOCIAL MEDIA OUTLET her the Real Estate Board of New PREFERRED SOCIAL MEDIA OUTLET “Twenty-five years ago a Man- Facebook York’s Most Promising Commer- LinkedIn professionally, hattan broker would never think of IF NOT A BROKER? A consultant cial Salesperson of the Year award Facebook personally going into Brooklyn to do business,” in 2008. IF NOT A BROKER? Work on said Richard Grossman, executive t is common at lease signings When it came to making the acquisitions for landlord director of sales for downtown Man- Ifor tenants to turn and pitch to Sesame Workshop, hattan at Halstead Property. thank their brokers. she turned for help to two erseverance is key for daily to networking and On the cost side, all brokers face Robin Fisher, though, is Newmark brokers, in- Pany broker, especially prospecting for clients. a common peril as New York has be- one of clud- for those like Anthony Lo- All that work began to pay off last come a much more expensive place very ing Presti, who kicked off his career in year. Through a series of Web alerts to put down roots. Rent on Mr. few bro- firm 2008 as the economy cratered. Mr. highlighting company mergers and Gossin’s first Upper East Side kers who have CEO Barry LoPresti lost his father when he was acquisitions, in 2008 Mr. LoPresti apartment was $200 a month in the received that Gossin. He 7 and was inspired by how his mom learned a big Canadian headhunting 70s. That was doable on his treatment from an in- credits her with returned to work to support the firm was buying an outfit in the city $14,000-a-year salary,but in the individual famously red, doggedly going af- family while also attending law and he reached out to it. tervening years, starting salaries furry and loveable, as ter the deal and coor- school. Last year, he closed a 14,000- haven’t kept up with the enormous she did when Elmo dinating the pitch “There was a ‘Never say no’ atti- square-foot deal for the company. jump in rents. himself showed up that landed the as- tude in my house,” he said. Another deal came the old-fash- In this report, Crain’s profiles 10 for the inking of signment. Mr. LoPresti went to law school ioned way: by networking with brokers under the age of 30 who are Sesame Work- The success of himself because he figured an ad- friends, he landed Simon Property viewed as rising stars by their shop’s deal for that effort earned vanced degree would give him an Group as a client and represented it firms—evenly split between those 140,000 square her Newmark’s edge in the job market. It has also in a 12,000-square-foot transac- on the commercial and those on the feet of office space on Broadway last Rising Star Award for 2010, befit- helped him digest leases, not that tion. Those deals helped make Mr. residential side of the business. year. ting the youngest Newmark broker there were many in his early days at LoPresti CBRE’s top producing as- —theresa agovino “It was so much fun,” said the heading her own team. CBRE. Instead, he devoted hours sociate in the city last year.

28 ence began to pay off for Ms. Tener and the 26 said, as he canvassed the city looking for Alexis Tener, team. Today 777 Third Ave. is 90% occupied. Michael Mathias, work, he applied to Studley and took the po- Jones Lang LaSalle, associate Last year, JLL’s team for the building won the Studley, assistant director sition because he was intrigued by the idea of START DATE January 2009 firm’s Agency Deal of the Year award for bro- START DATE October 2007 putting together deals. HIGHEST DEGREE/SCHOOL J.D., kering Avon’s lease of a quarter of a million HIGHEST DEGREE/SCHOOL B.A., Vanderbilt Yet he was dispirited the early days on the Washington & Lee Law School square feet at the tower,and Ms.Tener was FAVORITE BAND Rolling Stones job. He often worked 13-hour days, named JLL’s associate of the year. walking the streets to familiarize him- FAVORITE FAVORITE RESTAURANT Annisa BAND April All told, she self with buildings and neighbor- PREFERRED SOCIAL MEDIA OUTLET None Smith & the has played a key hoods. In the process, he wore out Great Picture Show role in leasing space at IF NOT A BROKER? An Internet entrepreneur one pair of shoes. And when he five other buildings, rack- wasn’t getting his shoes resoled, FAVORITE RESTAURANT ing up a total of 1 million n August of 2008, when Madison Inter- he was usually chained to the Petaluma square feet of transactions. Inational Realty tapped broker Michael phone, prospecting for clients. PREFERRED SOCIAL MEDIA All that is a world away from Mathias to help it find space, the Weekends were spent OUTLET LinkedIn where she once thought she’d be. choice was no acci- creat- IF NOT A BROKER? A writer After college Ms.Tener enrolled dent. The broker had ing an in- in law school,hoping to become cold-called the firm about formation lexis Tener’s intro- a public defender specializing five months earlier. It was one database at the A duction to real es- in death-penalty cases. The of many such calls he had been office. tate was short on further she got into her stud- making, but this call paid off in a Despite that ill- fun, uplifting moments. ies, the more depressed she 15,000-square-foot lease at 410 Park starred beginning, Mr. Early on, with the market still flat on its back, became. Upon graduation, she abandoned Ave. for his very first client. Mathias’ successes with she was put on a team tasked with filling a her original goal in favor of following in the “It felt really awesome,” said Mr. clients and his enthusi- nearly vacant 530,000-square-foot building. footsteps of her father, who had a career in Mathias. asm and strong work “When you were sitting in meetings, it was real estate. Oddly enough,the Boca Raton, ethic landed him pretty scary,” she recalled. “My father really enjoyed what he did and Fla.-born broker admits that he Studley’s national But as the market slowly picked up, a com- he also made a very good living,”said Ms.Ten- wasn’t especially interested in a Rookie of the Year bination of organization, patience and persist- er, who grew up in Garden City, L.I. career in real estate. Instead, he award for 2010.

16 | Crain’s New York Business | October 24, 2011 Project13:fp template.qxd 10/18/11 2:03 PM Page 1

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REPORT RESIDENTIAL REAL ESTATE Profiles by Amanda Fung Nick Gavin, 29 few years. Nick Gavin can. azs and BR Guest’s Stephen Hanson. Gen Y gets After less than a year on the job Then, just three months before The Corcoran Group, senior associate at Corcoran, he helped a couple buy Lehman Brothers collapsed, he START DATE June 2008 a three-bedroom prewar condo in signed on at The Corcoran Group. hard start HIGHEST DEGREE/SCHOOL B.A., Greenwich Village for $3 million— By then, Mr. Gavin had amassed Adelphi University a risky move in a still-dicey market. numerous big-name contacts, many But 18 months later,he brokered the of them in entertainment, who then FAVORITE BAND Rolling THE MEMBERS of Genera- sale of that unit for $1.4 million became clients.He declined to name Stones tion Y, born between 1982 and more than his clients had paid and names, but they reportedly include 2000, grew up during the digital FAVORITE RESTAURANT Indochine $200,000 above the asking price. actor Mickey Rourke and Victoria’s boom and were reared to value con- PREFERRED SOCIAL MEDIA OUTLET “Timing is everything,” said Mr. Secret model Maryna Linchuk. cepts such as creativity and person- Facebook Gavin, adding that a little good for- Mr. Gavin has been a member of al expression. Some employers IF NOT A BROKER? A hotelier or tune also helps. “There’s a saying in Corcoran’s multimillion-dollar club maintain that this generation is also developer my family: Luck follows long peri- for the past two years.He is on track harder to please, and maybe even to ods of hard work.” to maintain that elite designation communicate with. ot many real estate brokers After college, Mr. Gavin put in this year: He has more than $5 mil- “A lot of people refer to them as Ncan say they made money two years in the hospitality industry, lion in apartments under contract entitled because they’ve been told for their clients in the past working for hot hotelier André Bal- and a $20 million deal in the works. they’re smart and capable,” said Lindsey Pollak, author of Getting from College to Career: 90 Things to Jay Glazer, 26 following his return home to Green- Ari Harkov, 29 Do Before You Join the Real World. wich Village that he realized he could Halstead Property, “This is a generation that has proven Warburg Realty Partnership, do something more with his life. senior vice itself to be less understanding of the salesperson “I didn’t have any major pros- president need for grunt work by seeing START DATE October 2010 pects, so I decided to give real estate START DATE April 2007 [Facebook’s] Mark Zuckerberg and HIGHEST DEGREE/SCHOOL M.A., a go,” said Mr. Glazer, adding that HIGHEST others build quick success.” University of Birmingham (England) he’s always loved architecture and DEGREE/SCHOOL Some recruiters observe that the FAVORITE SINGER Frank Sinatra the city’s streetscapes. B.A., Vassar College proliferation of social media and He has prospered largely by doing FAVORITE RESTAURANT Gotham Bar FAVORITE MUSIC Classical texting seem to have weighed heav- what most brokers with big aspira- and opera ily on the generation’s writing and & Grill tions avoid: arranging apartment FAVORITE RESTAURANT Freemans social skills, making them more PREFERRED SOCIAL MEDIA OUTLET rentals. While he hopes to eventual- comfortable with abbreviated elec- Facebook ly handle more sales,about 75% of his PREFERRED SOCIAL MEDIA OUTLET tronic interactions than with the IF NOT A BROKER? A college deals are in the hot rental market. Facebook face-to-face variety. professor “It’s a paycheck,” said Mr. Glaz- IF NOT A BROKER? An entrepreneur Increasingly,members of Gener- er, who started his career at broker- ation Y—along with everybody ven though he has only one age Prime Manhattan Residential any brokers chafe un- else—are having to make adjust- Eyear under his belt at War- in 2009. Mder the stresses of ments. A recent survey conducted burg Realty, Jay Glazer He is known for going out of their jobs. Not Ari made endless cold calls. by the National Association of Col- isn’t a rookie in his boss’s eyes. his way for clients, as he did for Harkov. Shortly after switching to leges and Employers showed a shift President Frederick Peters regu- the buyer of a $3.4 million SoHo “Real estate is a walk in the Halstead,he snagged his first ex- in Generation Y’s job priorities larly seeks out Mr. Glazer’s penthouse. park compared to the performing clusive listing: a one-bedroom away from former top items, such as opinions on appropriate Shortly after the pur- arts,” said the broker, who started TriBeCa condo that sold in two high starting salaries and opportu- rents for buildings chase,the deck flooded out as an opera singer, performing weeks for $650,000—$25,000 nities for advancement. and fol- on stages both here and abroad. above the asking price. A wave of Today, Generation Yers put a neigh- lowing After 18 months of living out of deals followed as he honed his skills. ng premium on the opportunity for per- borhoods a heavy a suitcase,he decided that real estate He was named Rookie of the Year sonal development, followed by so- across the city. rain.Mr.Glazer offered some decided pluses. by the Real Estate Board of New bersided considerations such as job The young bro- went to his client’s “It was the closest thing to being York in 2008, and shortly after that, security and good insurance benefits. ker is just as surprised new home, rolled up your own boss, and artists like to be he was promoted to vice president at “When they come out of college as anybody else.While his sleeves and pulled in control,” said Mr. Harkov, who Halstead.Two years ago,Mr.Harkov in tough economic times, it’s a reality growing up,he wanted out the leaves blocking began in his new field late in 2006 by expanded into commercial broker- check,”said John Landers,New York to be an actor. After the drain. brokering rentals at a small agency. age and found a partner at his firm. regional manager for staffing agency college, he went to “If a client asks The central New Jersey native en- Now he is getting his M.B.A. at Robert Half International. “They England to study me to clean the toi- tered the business with two big hand- Columbia, launching a travel web- start to lower the bar quite a bit.” Shakespeare’s let, I will do it,” he icaps: He had minimal experience, site, and opening a bar and restau- —rebecca olles works. It was only added. and no network to rely on.At first,he rant in Williamsburg, Brooklyn.

24 whose parents told him when he was a child 26 firm offered to take her into its training Jared Seligman, that he would surely be mayor one day,because Danielle Wagner, program, she quickly agreed. Prudential Douglas Elliman, on the half-mile walk to his Upper East Side Brown Harris Stevens, salesperson She was certain that as a newbie, senior vice president elementary school, he talked to everybody. START DATE June 2006 she would never have a shot at work- START DATE February 2009 Today,his outgoing personality and careful HIGHEST DEGREE/SCHOOL B.A., ing on her own to sell trophy HIGHEST DEGREE/SCHOOL Associates, Bard attention to his clients have helped him attract University of Arizona properties valued at $10 mil- High School Early College celebrities ranging from the Olsen twins to FAVORITE BAND lion and model Jessica Stam. up. Ms. FAVORITE MUSIC Classical and opera Bon Jovi Mr. Seligman, who described his client Wagner made FAVORITE RESTAURANT Raoul’s list as “eclectic,”maintains that all his clients FAVORITE RESTAURANT a point early on of PREFERRED SOCIAL MEDIA OUTLET Twitter are “treated with the same discretion, The Palm asking to team up with IF NOT A BROKER? An architect whether they are renting something small PREFERRED SOCIAL MEDIA OUTLET top-producing brokers. or buying an expensive townhouse.” Facebook That strategy paid off,espe- n just half a dozen years, Jared Selig- Mr.Seligman has been named rook- IF NOT A BROKER? A fashion cially in 2008, during the Iman has made ie of the year at both Citi boutique owner near-total collapse of the quite a name Habitats and market. for himself. The Corcoran s a college senior interning “I felt safe,” she said. Getting an early Group, where he Afor a residential broker in Ms. Wagner’s re- start helped. At 17, after sold more than $40 mil- Tucson, Danielle Wag- sponsibilities include graduating from Bard High lion worth of real estate in a ner came to two important conducting apartment School Early College, he went year. conclusions: She liked the industry that she showings and putting together complex pack- right to work for a public rela- He now heads a five-per- was in, but not that particular market. ages for co-op boards. She has assisted in the tions firm and at 18 jumped into son team. When he isn’t clos- “Arizona was too slow,” said Ms. Wagner, sale of more than 30 multimillion-dollar resi- real estate, signing on at Citi ing big deals or hobnobbing who was born in Manhattan and raised in dences with a total value of over $200 million. Habitats. with A-list clients, he enjoys Westchester. “I was looking for action.” In 2010, Ms. Wagner helped pull off the “Ever since I was a little studying architecture and art So she cold-called the CEO of high-end year’s largest co-op deal:the $29.1 million sale kid,I was much older than my from his vast collection of brokerage Brown Harris Stevens back in of the late Bruce Wasserstein’s Fifth Avenue age,” said Mr. Seligman— books. Manhattan, seeking an interview. When the co-op to developer William L. Zeckendorf.

18 | Crain’s New York Business | October 24, 2011 20111024-NEWS--0019-NAT-CCI-CN_-- 10/20/2011 4:46 PM Page 1

REPORT REAL ESTA TE NY Area’s Largest Construction Companies Ranked by 2010 area revenues

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October 24, 2011 | Crain’s New York Business | 19 20111024-NEWS--0020-NAT-CCI-CN_-- 10/20/2011 6:51 PM Page 1

REPORT REAL ESTA TE

Deals Plus Video gamer Drunken Horse COMING stays downtown in Hell’s Kitchen ATTRACTIONS Dollar volume for sales of Oberon Media has subleased 16,100 Hell’s Kitchen is about to become development sites Jittery markets square feet at 100 Broadway, between even wetter. A second location of Pine and Wall streets. Asking rent the Drunken Horse Wine Bar will BROOKLYN for the three-year deal,which covers open at 405 W. 44th St., between slow pacing of the entire Ninth and 10th avenues, in January. 14th floor of Owner Azman Dayakli and $161M the building, business partner Dilaver Kocak re- First 3 quarters of 2011 deal completions was $35 per cently signed a 10-year lease for 450 square foot. square feet at that location. Asking The com- rent for the deal, which includes a obust growth in the dollar volume of sales of pany works 150-square-foot basement, was $91M New York City commercial buildings—which is with game de- $120 a square foot. All of 2010 velopers to “I like Hell’s Kitchen,” said Mr. expected to be up 78% this year—is masking a create solu- Dayakli, who opened the Drunken QUEENS troubling trend. Over the past six months, tions which Horse in Chelsea two years ago. “In the amount of time it takes to complete a allow their the last 10 years, it has really filled R 100 Broadway transaction has doubled to about six weeks, as buyers become products to be up with a lot of restaurants and $67M played on bars.” First 3 quarters of 2011 increasingly jittery about the global economy. many platforms, such as personal He intends to sell wine, beer and While most buyers continue to view New York as a safe computers and handheld mobile small plates of food. By 2014, he investment bet, in light of all the tumult in markets around the devices, in a variety of languages. It hopes to have his own well-sozzled $47M is currently located at 1 World Fi- herd of five Drunken Horses scat- All of 2010 globe, investors are simply being securing loans or equity has become nancial Center. The tenant plans to tered about Manhattan. more careful, said Robert Knakal a lot more difficult since the bust. move into its new office next month. The tenant was represented by Source: Massey Knakal Realty Services (below),chairman of Massey Knak- “They want to be really sure,” he Oberon Media looked at space in Sam Zagoren of Square Foot Realty. al Realty Services. said. the Flatiron district, which has be- Square Foot brokers Aaron Gavios These days, that means they are He also noted that part of the come increasingly popular with tech and Howard Aaron also represent- posts feature brightly hued equip- asking for a lot more information. slowdown is due simply to the way and media companies, but opted to ed landlord Silvershore Properties. ment, checkered floors and Retro Among other things, potential sales transactions are closed in stay in lower Manhattan, according —adrianne pasquarelli Theatres where members can exer- buyers are asking for detailed the city. Here, buyers conduct to its broker, Brad Gerla of CB cise while watching 1980s movies operation reports of properties due diligence before they sign Richard Ellis Group Inc. such as Ferris Bueller’s Day Off. and for records of all tenant contracts.In other parts of the “They liked the downtown vibe,” Kidswear outfit The chain plans to open 10 gyms lawsuits. Buyers also want to be country, the research is done he said. “They were already down joins peers in the city in the next 18 months,in- absolutely positive that they afterward, with the under- here so it just made a lot of sense.” cluding three in Manhattan, three have secured financing standing that buy- Oberon Media is subleasing the Accessory Innovations is moving in Brooklyn,two in Queens and two before signing on the ers can pull out if space from Buro Happold Inc., two blocks north in the garment dis- on Staten Island. They will be run dotted line, accord- they find some- which was represented by Karen trict to join other companies in its under five multiunit franchise agree- ing to Mr. thing amiss. Kemp, a broker at The Corcoran line of business. ments that were recently signed. Knakal, espe- —theresa Group.The building is owned by Sa- The children’s apparel and acces- “The unfortunate recession has cially because agovino vanna, a real estate investment firm. sory maker has signed a 13-year been a blessing in disguise,” said bloomberg news —theresa agovino lease for 11,250 square Eric Casaburi, founder feet at 34 W. 33rd St., be- and chief executive of tween Fifth Avenue and Retro Fitness, speaking of Broadway. The asking the downturn’s effects on rent was $39 per square rents.“Before this market, foot. we wouldn’t have touched The deal was a perfect New York City with a 10- fit, according to Brett foot pole.” Maslin of Adams & Co. Retro Fitness investors Real Estate, who along are hoping to take advan- with colleague David tage of lower real estate Levy, represented the costs and the broad appeal landlord Arcade Build- of the gym’s cheap ing Associates. $19.99-a-month mem- “The tenant was look- 34 W. 33rd St. bership. In Astoria, ing to be with other com- Queens, partners Al panies in its industry and we seek Goncalves and Ahmer Kazmi will tenants strictly in children’s appar- open their 15,000-square-foot fran- el,” he said. In fact, the 12-story, chise on Jan. 2. The asking rent for 212,000-square-foot building is the space at 32-32 49th St. was $26 better known as The Childrenswear per square foot. Center. Other tenants there include The company has finalized three Baby Fair and Charlie Rocket. leases, with spaces ranging from Accessory Innovations is cur- 10,000 to 25,000 square feet. rently located at 10 E. 34th St., be- The 7-year-old franchisor has tween Fifth and Madison avenues. more than 70 locations on the East It will move into its new sixth-floor Coast, most of them in New Jersey, space in November, when it is done and plans to add 300 more in the with its buildout. next three years. Michael Beyda of Benchmark —rebecca olles Properties represented the tenant. —amanda fung NY is working out for NJ gym Retro Fitness, a New Jersey-based fitness franchise, has its sights fixed on New York City. The existing Retro Fitness location here opened on Staten Island in November 2010.The company’s out- MUSCLING IN: Retro Fitness plans NYC sites.

20 | Crain’s New York Business | October 24, 2011 20111024-NEWS--0021-NAT-CCI-CN_-- 10/20/2011 9:16 PM Page 1

FOR THE RECORD

(718) 752-5843 or [email protected]. 180 Water St., Manhattan. To make tenant, while Aurora Capital’s Jared inquiries, contact Paula Sangster- Epstein represented the landlords, ABOUT THIS SECTION GOODS AND SERVICES Graham at (212) 620-9275 or Aurora Associates and Alex Adjmi. The ● Administration for Children’s Services [email protected]. base rent is $3 million per year. FOR THE RECORD is a weekly listing of information from the public record that Seeks competitive sealed bids by 3 p.m. can help businesspeople in the New York area find opportunities, potential on Nov. 15 for electrical repair and ● Carlo Pazolino signed a lease for new clients and updates on competitors. replacement in Manhattan, Queens and REAL ESTATE DEALS 8,000 square feet of 534 Broadway. The To ask questions or get more information on this section, contact Suzanne the Bronx. There will be an optional shoe designer will occupy space on two Panara at [email protected]. prebid conference on Friday, Oct. 28, at Companies that would like to have details floors, including the ground level. 10 a.m. at 150 William St., Manhattan. of their recent transactions appear in these RFK’s Karen Bellantoni and Beth Bid forms and specifications may be listings should email descriptions following Rosen represented the tenant, while obtained free of charge from the ACS this format to ELaermer@ Aurora Capital’s Jared Epstein website anytime before the bid date. crainsnewyork.com, with “Real estate represented the landlords, Aurora BANKRUPTCIES alphabetical by category and department. Copy the link into your browser to go to transaction” in the subject line, or enter Associates and Alex Adjmi. The asking the appropriate page: www.nyc.gov/ them online at crainsnewyork.com/ rent for the ground floor space was $400 The following listings are selected from the CONSTRUCTION SERVICES html/acs/html/home/home.shtml. If submitadeal. Deals are listed in order of per square foot. most recent available filings by companies ● Department of Parks and Recreation you are unable to download the bid, a square footage. seeking bankruptcy protection in the Seeks competitive sealed bids by 10:30 bid package may be requested via email Southern and Eastern Districts of New a.m. on Nov. 3 for the expansion of from Roberta [email protected] or COMMERCIAL STOCK TRANSACTIONS York. Information was obtained from U.S. sidewalk tree pits and planting of new [email protected]. Please give the ● New York Cares signed a lease for Bankruptcy Court records available on and replacement street trees in type of service in the subject line as well 18,000 square feet of 65 Broadway. Following are recent insider transactions at Public Access to Court Electronic Records. community boards 1-18 in Brooklyn. as the name of the company, complete The nonprofit will occupy space on the New York’s largest publicly held companies Listings are in alphabetical order. Bid documents are available for $25 in address, contact name, and phone and 19th floor and another level. Cushman filed with the Securities and Exchange the blueprint room, Olmsted Center, fax numbers into the body of the email. & Wakefield Inc.’s Carri Lyon Commission by executives and major ● 185 Columbus Equity Corp. Queens, from 8 a.m. to 3 p.m. The fee is represented the tenant, while C&W’s shareholders. Listings are in order of 185 Columbus Ave., Manhattan payable by company check or money ● City University of New York Tom Kaufman and Rory Murphy transaction value.The information was Filed for Chapter 11 bankruptcy order to the City of New York, Parks Seeks competitive sealed bids by 3 p.m. represented the landlord, A.M. obtained from Thomson Reuters. protection on Oct. 14. The filing cites and Recreation. To make inquiries, on Nov. 3 for a Yamaha digital mixing Property.The asking rent was in the low estimated liabilities of $100,001 to contact Juan Alban at (718) 760-6771 or console with power supply and cable at $30s per square foot. ● Bed Bath & Beyond Inc. (BBBY) $500,000 and estimated assets of [email protected]. Lehman College. To make inquiries, Steven H. Temares, director and chief $100,001 to $500,000. contact Raj Mohabir at (718) 960-8071 ● Destination Media Inc. signed a executive, exercised options on 300,000 ● Department of Parks and Recreation or [email protected]. seven-year lease for 5,000 square feet of shares of common stock at prices ● 2946 Fulton St. Seeks competitive sealed bids by 10:30 183 Madison Ave. Murray Hill ranging from $31.62 to $32.52 between 102-39 66th Ave., Queens a.m. on Nov. 9 for the reconstruction of ● Department of Citywide Administrative Properties’ Bret Varricchio and Jesse Oct. 12 and Oct. 14, in a transaction Filed for Chapter 11 bankruptcy deteriorated plumbing systems for Services Rubens represented the landlord Rigby worth $9,647,400. During the same protection on Oct. 12. The filing cites various parks and recreational pool Seeks competitive sealed bids by 10:30 183. The asking rent was $55 per square period, he sold 300,000 shares of estimated liabilities of $1,000,001 to facilities citywide. Bid documents are a.m. on Nov. 4 for a remote meter foot. common stock at prices ranging from $10 million and estimated assets of available for $25 in the blueprint room, reader flow monitoring system. To $60.06 to $60.27, in a transaction worth $500,001 to $1 million. Olmsted Center, Queens, from 8 a.m. make inquiries, contact Anna Wong RETAIL $18,068,612. He now directly holds to 3 p.m. The fee is payable by at (212) 669-8610 or ● William Grant & Sons signed a lease 505,281 shares. ● Advisors’ Search Group Inc. company check or money order to the [email protected]. for 20,000 square feet of 300 Park Ave. 14 Birdsall Farm Drive, Armonk, N.Y. City of New York, Parks and South. The whiskey maker will occupy ● Cognizant Technology Solutions Corp. Filed for Chapter 7 bankruptcy Recreation. To make inquiries, contact ● Department of Environmental Protection space on the fifth and sixth floors. (CTSH) protection on Oct. 12. The filing cites Juan Alban at (718) 760-6771 or Seeks competitive sealed bids by 11:30 Newmark Knight Frank’s Eric Cagner Chandrasekaran Ramakrishnan, estimated liabilities of $1,000,001 to [email protected]. a.m. on Nov. 3 for landscaping services represented the tenant, while Cushman president and managing director, global $10 million and estimated assets of $0 to at various water pollution control plants & Wakefield Inc.’s Mikael Nahmias, delivery, exercised options on 17,000 $50,000. Among the creditors with the ● Department of Parks and Recreation and associated facilities in Manhattan. Andrew Peretz and John Peters shares of common stock at $2.88 largest unsecured claims are Advisors’ Seeks competitive sealed bids by 10:30 The bid document fee will be $40. To represented the landlord, Rockrose between Oct. 10 and Oct. 12, in a Search Group Inc. pension fund, owed a.m. on Nov. 9 for the reconstruction of make inquiries, contact Greg Hall at Development Co. The asking rent was transaction worth $48,960. During the $2,300,000; Internal Revenue Service, deteriorated electrical systems for (718) 595-3236 or [email protected]. $51 per square foot. same period, he sold 17,000 shares of owed $22,780; and Sterling National various parks and recreational pool common stock at prices ranging from Bank, owed $17,723. facilities citywide. Bid documents are ● Department of Transportation ● Levi’s signed a lease for 10,000 square $67.74 to $72.19, in a transaction worth available for $25 in the blueprint room, Seeks competitive sealed bids by 11 a.m. feet of 495 Broadway. PBS Realty’s $1,196,080. He now directly holds ● Central Park East Estates Inc. Olmsted Center, Queens, from 8 a.m. on Nov. 16 for transportation and Laura Pomerantz represented the 72,372 shares. Ⅲ 45 Wendy Drive, Staten Island to 3 p.m. The fee is payable by disposal services for construction waste Filed for Chapter 7 bankruptcy company check or money order to the material generated by the citywide protection on Oct. 14. The filing cites City of New York, Parks and concrete program. A deposit of $50 in estimated liabilities of $100,001 to $10 Recreation.To make inquiries, contact the form of a certified check or money DEALS ROUNDUP million and estimated assets of $100,001 Juan Alban at (718) 760-6771 or order made payable to New York City to $10 million. Among the creditors [email protected]. Department of Transportation is with the largest unsecured claims are required to obtain the contract/bid TRANSACTION SIZE SELLER/TARGET (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE Hamza Capri, owed $840,980; Esther ● Health and Hospitals Corp. documents. Please ensure that your DiVirgilia, owed $496,719; and Edwin Seeks competitive sealed bids by 11 a.m. company address, telephone and fax Metalmark Capital $550.0 Sonoco Products Co. SB M&A & Nicole Cobus, owed $252,166. on Nov. 10 for a general construction numbers are submitted by your company (Manhattan)/ Tegrant Corp. requirement contract. A voluntary prebid or messenger service when picking up ● N&K Animal Productions meeting is scheduled for Oct. 28 at contract documents during the hours of Liz Claiborne Inc. $267.5 J.C. Penney Co. SB M&A (Manhattan)/ 157 Ludlow St., Manhattan 11 a.m. at Jacobi Medical Center, 9 a.m. and 3 p.m. at 55 Water St., Liz Claiborne Inc., Filed for Chapter 11 bankruptcy planning department, 1400 Pelham Manhattan. For additional information, Liz Claiborne Brands protection on Oct. 12. The filing cites Parkway, Bronx. Bid documents can be please contact Louvinia Nixon at GLG Ore Hill $214.4 Ophir Energy Plc. SB M&A estimated liabilities of $100,001 to picked up for $35, made payable to (212) 839-4290. (Manhattan), Plainfield $500,000 and estimated assets of Jacobi Medical Center.To make Asset Management, $100,001 to $500,000. inquiries, contact Bob Gopalan at ● Human Resources Administration Outrider Management, (718) 918-3991 or Requests proposals by 2 p.m. on Nov. 29 BlueGold Capital ● The Vorst Group Inc. [email protected]. for the sponsorship of multiservice Management,Camulos 11 Penn Plaza, Manhattan centers. To make inquiries, contact Dominion Holdings/ Filed for Chapter 7 bankruptcy ● Housing Authority William French at (212) 331-5153 or Dominion Petroleum Ltd. protection on Oct. 14. The filing cites Seeks competitive sealed bids by 10 a.m. [email protected]. estimated liabilities of $100,001 to on Nov. 3 for roof replacement and AFI USA/ $165.0 Not disclosed SB M&A ● Human Resources Administration Clock Tower at $500,000 and estimated assets of related work at Pomonok Houses in 5 Madison Ave. $100,001 to $500,000. Among the Queens. Bid documents are available Requests proposals by 2 p.m. on Dec. 1 creditors with the largest unsecured for $25 in the form of a money order for a qualified vendor to establish, GHG Realty/ $137.0 Savanna Partners (Manhattan), SB M&A 21 Penn Plaza The Feil Organization (Manhattan) claims are Centennial Security or certified check made payable directly or through subcontractors, a Integration Inc., owed $85,467.04; Jaffe to NYCHA at 90 Church St., network of community outreach Oxford Bioscience $49.1 Opko Health Inc. SB M&A & Asher, owed $47,605.07; and CID Manhattan. To make inquiries, contact locations at which on-site meals, care Partners, Commons Capital Management, Properties, owed $16,967.03. Gloria Guillo at (212) 306-3121 or packages consisting of packaged and BioVentures Investors, [email protected]. canned foods, clothing items and a Accelerated Technologies variety of counseling services, would be Partners (Manhattan)/ GOVERNMENT CONTRACT ● School Construction Authority offered to persons living with AIDS, Clarios Diagnostics Inc. OPPORTUNITIES Seeks competitive sealed bids by 11:30 their spouses and children. These Not disclosed/ $42.0 U.S. Venture Partners, OrbiMed GCI a.m. on Nov. 2 to provide electrical services would be made available at a Cleave Biosciences Inc. Advisors (Manhattan),Astellas Following are selected contract systems to P.S. 71 in the Bronx. The minimum of four locations in at least Venture Management, 5AM Ventures, opportunities recently announced by New nonrefundable bid charge is $100 by two boroughs throughout New York Clarus Ventures York City agencies.To learn how to sell certified check or money order. City, in communities with a high density Selected deals announced for the week ended Oct. 16 involving companies in metro New York. goods and services to city government, visit Make checks payable to the School of people living with AIDS and/or GCI: Growth capital investment represents new money invested in a company for a minority www.nyc.gov/selltonyc. For a searchable Construction Authority. Bidders must persons with HIV-related illness. There stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing source: capitaliq database of current procurement notices, be prequalified by the SCA. To make will be a preproposal conference on Oct. shares of a company without the participation of a financial buyer. visit www.nyc.gov/cityrecord. Listings are inquiries, contact Rookmin Singh at 27 from 10 a.m. to 12 p.m. located at

October 24, 2011 | Crain’s New York Business | 21 nb43p22-24cl.qxp 10/21/11 4:14 PM Page 22

EXECUTIVE EVENT PUBLIC & LEGAL NOTICES RECRUITER ACG NY Women of Long Island-THE ART OF THE DEAL THROUGH POKER Notice of Qualification of MTGLQ NOTICE OF FORMATION OF Notice of Qualification of South Point POSITION AVAILABLE Join us for a night of reading the competition, Investors, L.P. Authority filed with NY Breakable Girls Music, LLC. Holdings, LLC. Authority filed with developing your strategic skills, and enhancing Dept. of State on 9/22/11. Office Articles of Organization filed with the NY Dept. of State on 9/19/11. Office location: NY County. Princ. bus. Secretary of State of NY (SSNY) on location: NY County. LLC formed in your ability to negotiate with the help of The Quantitative Analyst - addr.: 200 West St., NY, NY 10282. 7/25/2011. Office location: NEW MI on 8/19/11. NY Sec. of State Poker Diva. You’ll sharpen the skills you’ll LP formed in DE on 12/29/93. NY YORK County. SSNY has been des- designated agent of LLC upon whom Systematic Rates need in the deal making environment by (Citadel LLC - New York, NY) Dvlp core Sec. of State designated agent of LP ignated as agent upon whom process process against it may be served and practicing the game of poker with a group of upon whom process against it may against it may be served. The Post shall mail process to: National algorithms & mdls that will lead to & great women. Whether you’ve joined us in the support mdl-driven trading decisions. be served and shall mail process to: Office address to which the SSNY Corporate Research, Ltd., 10 E. 40th past (in NYC), or this is your first time, you’ll Reqs Masterís degr in Comp Sci, Elec CT Corporation System, 111 8th shall mail a copy of any process St., 10th Fl., NY, NY 10016, regd. meet new faces and learn something in the Engineering, or rel field & 1 yr exp ana- Ave., NY, NY 10011. DE addr. of LP: against the LLC served upon him/her agent upon whom process may be lyzing fixed income mrkts in high freq process. You don’t need any poker experience 1209 Orange St., Wilmington, DE is: c/o eResidentAgent, Inc. 12121 served. MI and principal business space & dvlping systems to generate & to attend this event! Once you leave the event 19801. Name/addr. of genl. ptr. Wilshire Boulevard, Suite 1201, Los addr.: 1946 Turner NW, Grand Rapids, monitor signals used in algorithmic you will be comfortable sitting at any poker available from NY Sec. of State. Angeles, CA 90025. MI 49504. Cert. of Org. filed with Dir. Cert. of LP filed with DE Sec. of of Bureau of Commercial Services, electrn’ly-executed trading. Exp must table. Come find out why 68% of CEO’s State, 401 Federal St., Dover, DE 2501 Woodlake Cir., Okemos, MI incl the following: R, SPlus, TSP, Matlab would rather play poker than golf! NOTICE OF FORMATION of Aurum 19901. Purpose: any lawful activity. Staffing, LLC Art. of Org filed Sec’y 48864. Purpose: all lawful purposes. or Mathematica; adv. C++ & Python Members:$95.00, Non Members: $125.00 of State (SSNY) 10/19/11. Office programming; empirical mdl dvlpmnt On-Site Registration Price Members $125.00. location: New York County. SSNY HOUSE OF JAI LLC, a domestic w/ time series or cross sectional data; & On-Site Registration Price Non-Members: Notice of Qualification of THE NOC TV, designated as agent of LLC upon whom Limited Liability Company (LLC), filed computations involving lrg data sets: LLC. Authority filed with Secy. of $155.00 When: Monday, October 24, 2011, process against it may be served. with the Sec of State of NY on 9/1/11. memory mgmt, work on data slices, State of NY (SSNY) on 9/28/11. Office 6:00 p.m. - 8:00 p.m. Where: Westbury Manor SSNY shall mail copy of process to NY Office location: New York County. ability to eval appropriate location: NY County. LLC formed in 1100 Jericho Turnpike Westbury, NY 11590 Alan M. Tarter, Esq., Tarter Krinsky & SSNY is designated as agent upon platform/toolkit, analysis of outliers, & Delaware (DE) on 9/22/11. SSNY Register at www.acgnyc.org designated as agent of LLC upon Drogin LLP, 1350 Broadway, 11th whom process against the LLC may other explorative data analysis. Floor, New York, NY 10018. Registered be served. SSNY shall mail a copy of Resumes: ER/EH, Job R-0159, Citadel whom process against it may be served. SSNY shall mail process to: agent upon whom process may be any process against the LLC served LLC, 131 S Dearborn St, 32nd Fl, served: Alan M. Tarter, Esq., Tarter upon him/her to Jeri Fogel, c/o Chicago, IL 60603. c/o Abdul Khan, 1550 17th St., Santa TELECOMMUNICATIONS Monica, CA 90404, also the principal Krinsky & Drogin LLP, 1350 Mautner-Glick Corp., 1345 Third Ave., office address. Address to be main- Broadway, 11th Floor, New York, NY NY, NY 10075. General Purposes. tained in DE: 3500 S. DuPont Hwy, 10018 Purpose: any lawful activities. REAL ESTATE Dover, DE 19901. Arts of Org. filed Notice of Formation of CHELSEA with the DE Secretary of State, 401 Notice of Formation of SMC E-Learning HOME 1 LLC. Arts. of Org. filed with 33 East 33rd Street Federal St., #3, Dover, DE 19901. LLC Arts. of Org. filed with Secy. of Secy. of State of NY (SSNY) on 8/23/11. Purpose: any lawful activities. State of N.Y. (SSNY) on 07/11/11. Office location: NY County. Princ. LUXURY PROPERTY New York, NY 10016 Office location: New York County. office of LLC: 305 W. 16th St., 5G, NY, 212-532-7400 NOTICE OF FORMATION of CYNTHIA SSNY designated as agent of LLC NY 10011-5985. SSNY designated FOR SALE [email protected] E SEIDMAN RD, LLC. Arts. Of Org. upon whom process against it may be as agent of LLC upon whom process EAST HAMPTON filed with Secy. Of State of NY (SSNY) served. SSNY shall mail process to c/o against it may be served. SSNY shall EMERGENCY on 9/7/11. Office Location: NY County. The Law Offices of Daniel A. Singer mail process to Corporation Service COMMUNICATIONS Princ. Office of LLC: 411 E. 57th St., PLLC, 245 5th Avenue, Suite 1902, Co., 80 State St., Albany, NY 12257- SYSTEMS 15E, NY, NY 10022. SSNY designated New York, New York 10016. Principal 2543. Purpose: Real estate. SPECIALISTS as agent of LLC upon whom process business location: 419 Lafayette against it may be served. SSNY shall Notice of Formation of Kyriaki Design • FREE PICKUP & DELIVERY Street, No. 2, New York, New York mail process to Corporation Service 10003. Purpose: any lawful purpose. Group LLC. Arts. of Org. filed with • 48 HOUR TURNAROUND Co. 80 State St., Albany, NY 12207. Secy. of State of NY (SSNY) on ON REPAIRS Purpose: Any lawful activity. Notice of Formation of Falcon Jewelry, 8/4/11. Office location: NY County. • FREE ENGRAVING LLC. Arts. of Org. filed with Secy. of SSNY designated as agent of LLC upon whom process against it may • SHORT & LONG TERM NOTICE OF FORMATION OF State of NY (SSNY) on 9/15/11. Office be served. SSNY shall mail process RENTALS ACCESSORY STREET, LLC. Articles location: NY County. SSNY designated of Organization filed with Secretary as agent of LLC upon whom process to: The LLC, 44-02 23rd St., 508, of State of New York (SSNY) on against it may be served. SSNY shall Long Island City, NY 11101. 6/14/11. Office location: NY County. mail process to: The LLC, c/o S&K Purpose: any lawful activity. SSNY has been designated as an Statutory Agent Services, Inc., 3475 Notice of Formation of L’Escale agent upon whom process against Ridgewood Rd., Akron, OH 44333. Francaise, LLC. Arts of Org. filed with Purpose: any lawful activity. the LLC may be served. The Secy. Of State of NY (SSNY) on address to which SSNY shall mail a 9/02/11. Business location: NY County. copy of any process against the LLC STEVEN J. POSKAR M.D., PLLC, a SSNY designated as agent of LLC is to Attn: Ted Rosen, Esq., 100 Park domestic Professional Limited upon whom process against it may PUBLIC & LEGAL NOTICES Ave., Ste. 1500, NY, NY 10012. Liability Company (PLLC), filed with be served. SSNY shall mail copy to Purpose: any lawful act or activity. the Sec of State of NY (SSNY) on Law Office of Kathleen Higgins, 270 8/16/11. NY office Location: New Jay St., Suite 1, Brooklyn, NY 11201. Notice of Mediactive Group LLC filed NOTICE OF FORMATION OF Blue Notice of Qualification of BVK-RREEF York County. SSNY is designated as Purpose: any legal activity. with the Secy. of State of NY (SSNY) Triple Eight LLC. Arts of Org filed with 412 West 14th Street 1N, LLC. agent upon whom process against on August 26, 2011. Office location: the Secy of State of NY (SSNY) on Authority filed with NY Dept. of State the PLLC may be served. SSNY shall Notice of Qualification of Eyefly LLC. New York County. SSNY designated 06/24/11. Office loc: NY Cty. SSNY on 9/30/11. Office location: NY mail a copy of any process against Authority filed with NY Dept. of State as agent of LLC upon whom process designated as agent upon whom County. LLC formed in DE on the PLLC served upon him/her to on 1/5/11. Office location: NY County. against it may be served. SSNY shall process may be served and shall mail 9/28/11. NY Sec. of State designated Steven Poskar, 901 5th Ave., NY, NY LLC formed in DE on 1/4/11. NY Sec. mail process to: Barton Barton & process to: 1170 Peachtree St NE, agent of LLC upon whom process 10021. Purpose: Medicine. of State designated agent of LLC Plotkin LLP, 420 Lexington Avenue, Ste 1750, Atlanta, Georgia 30309. against it may be served and shall upon whom process against it may be 18th Floor, New York, New York. The principal business address: 415 mail process to: c/o CT Corporation Notice of Formation of 2050 FIFTH served and shall mail process to the Purpose: any lawful activity. Washington St, Ste 1B, NY, NY System, 111 8th Ave., NY, NY 10011. AVENUE, LLC. Arts. of Org. filed principal business addr.: 42 W. 39th 10013. Purpose: any lawful acts. DE address of LLC: 1209 Orange St., with the Secy. of State of NY (SSNY) St., 9th Fl., NY, NY 10016. DE addr. of NOTICE OF REGISTRATION of Wilmington, DE 19801. Cert. of on 08/16/2011. Office located in NY LLC: The Corporation Trust Co., 1209 Fesnak and Associates, LLP (LLP). Notice of Formation of OTTERNAT Form. filed with DE Sec. of State, County. SSNY has been designated Orange St., Wilmington, DE 19801. Certificate of Registration filed with NY LLC. Arts. of Org. filed with NY Dept. 401 Federal St., Dover, DE 19901. for service of process. SSNY shall Cert. of Form. filed with DE Sec. of Dept of State on 8/9/11. Principal of State on 9/29/11. Office location: Purpose: all lawful purposes. mail process to: LLC, 159 West 25th State, P.O. Box 898, Dover, DE 19903. office located in New York County. NY County. Princ. bus. addr.: 107 Street - 6FL, NY, NY 10001. Purpose: all lawful purposes The Secretary of State of NY (SSNY) Sullivan St., NY, NY 10012. Sec. of Notice of Qualification of Blackstone Purpose: Any lawful purpose. is designated as agent of LLP for State designated agent of LLC upon Real Estate Partners VII.TE.3 L.P. NOTICE OF FORMATION OF service of process. SSNY shall mail whom process against it may be Authority filed with NY Dept. of State Notice of Qualification of Radio Free Gallagher Law Offices PLLC. copy of any process to the LLP at its served and shall mail process to: c/o on 9/15/11. Office location: NY Dixie Productions, LLC. Authority Articles of Organization filed with principal office: 1501 Broadway, 12th Mark Rosenblum, CPA, 37 Brighton County. Princ. bus. addr.: 345 Park filed with NY Dept. of State on the Secretary of State of NY (SSNY) Fl, New York, NY 10036. Purpose: 11th St., Brooklyn, NY 11235. Ave., NY, NY 10154. LLC formed in DE 9/16/11. Office location: NY County. on 08/04/2011. Office location: Certified Public Accountancy. Purpose: all lawful purposes. on 9/2/11. NY Sec. of State designated Princ. bus. addr.: 1100 Ave. of the NEW YORK County. SSNY has been agent of LLC upon whom process Americas, 9th Fl., NY, NY 10036. LLC designated as agent upon whom WASSERBURG LLC, a domestic Notice of Formation of RHAPSODIE 2, against it may be served and shall formed in DE on 5/18/11. NY Sec. of process against it may be served. Limited Liability Company (LLC), filed LLC. Arts. of Org. filed with Secy. of mail process to: c/o CT Corporation State designated agent of LLC upon The Post Office address to which with the Sec of State of NY on State of NY (SSNY) on 9/19/11. Office System, 111 8th Ave., NY, NY 10011, whom process against it may be the SSNY shall mail a copy of any 9/1/11. NY Office location: New York location: NY County. Princ. office of regd. agent upon whom process may served and shall mail process to: c/o process against the PLLC served County. SSNY is designated as LLC: Sanders Ortoli Vaughn-Flam be served. DE addr. of LP: c/o The CT Corporation System, 111 8th upon him/her is: InCorp Services, agent upon whom process against Rosenstadt LLP, 501 Madison Ave., Corporation Trust Co., 1209 Orange Ave., NY, NY 10011, regd. agent Inc., One Commerce Plaza - 99 the LLC may be served. SSNY shall 14th Fl., NY, NY 10022-5616. SSNY St., Wilmington, DE 19801. upon whom process may be served. Washington Ave., Suite 805-A, mail a copy of any process against designated as agent of LLC upon Name/addr. of genl. ptr. available DE addr. of LLC: 1209 Orange St., Albany, NY 12210-2822. The the LLC served upon him/her to The whom process against it may be from NY Sec. of State. Cert. of Form. Wilmington, DE 19801. Cert. of principal business address of the LLC, c/o Elizabeth M. Kovac, Esq., served. SSNY shall mail process to filed with DE Sec. of State, 401 Form. filed with DE Sec. of State, PLLC is: 405 Lexington Ave., 26th 90 Park Ave., Ste. 1710, NY, NY the LLC at the addr. of its princ. Federal St., Dover, DE 19901. 401 Federal St., Dover, DE 19901. Floor, New York, NY 10174. 10016. General Purposes. office. Purpose: Any lawful activity. Purpose: all lawful purposes. Purpose: all lawful purposes. Purpose: any lawful act or activity.

22 | Crain’s New York Business | October 24, 2011 nb43p22-24cl.qxp 10/21/11 4:14 PM Page 23

PUBLIC & LEGAL NOTICES

Notice of Formation of Golden Carrot Notice of Qualification of Lipstick NOTICE OF FORMATION OF Notice of Qualification of BNP Paribas NOTICE OF QUALIFICATION of Vending LLC. Arts. of Org. filed with Management LLC. Authority filed Roubaix Bike Lounge. Articles of VPG Master, LLC. Authority filed with Brightwood Capital SBIC I, LP. Secy. of State of NY (SSNY) on with Secy. of State of N.Y. (SSNY) on Organization filed with the Secretary NY Dept. of State on 8/17/11. Office Application for Authority filed with the 8/15/11. Office location: NY County. 5/26/11. Office location: New York of State of NY (SSNY) on June 23, location: NY County. Princ. bus. addr.: Secretary of State of New York (SSNY) SSNY designated as agent of LLC County. LLC formed in Delaware (DE) 2011. Office location: NEW YORK 787 7th Ave., NY, NY 10019. LLC on 08/16/2011. Office location: New upon whom process against it may on 11/12/10. SSNY designated as County. SSNY has been designated formed in DE on 2/4/10. NY Sec. of York County. LP formed in DE on be served. SSNY shall mail process agent of LLC upon whom process as agent upon whom process State designated agent of LLC upon 03/14/2011. SSNY has been designated c/o US Corp Agents Inc. to: 7014 against it may be served. SSNY shall against it may be served. The Post whom process against it may be as an agent upon whom process 13th Ave., Ste 202, Brooklyn, NY mail process to: c/o Stern & Zingman Office address to which the SSNY served and shall mail process to: c/o against it may be served. The Post 11228. Purpose: any lawful activity. LLP, 331 Madison Ave., 2nd Fl., NY, shall mail a copy of any process CT Corporation System, 111 8th Ave., Office address to which the SSNY shall NY 10017. DE address of LLC: c/o against the LLC served upon him/her NY, NY 10011, regd. agent upon whom mail a copy of any process against Notice of Formation of Town 79th Corporate Creations Network Inc., is: 223 West 21st. Street, Apt. 5L, process may be served. DE addr. of the LP served upon him/her is: c/o CT Street, LLC. Arts. of Org. filed with 3411 Silverside Rd., Rodney Bldg New York, NY 10011. The principal LLC: 1209 Orange St., Wilmington, DE Corporation System, 111 Eighth Secy. of State of NY (SSNY) on #104, Wilmington, DE 19810. Arts. of business address of the LLC is: to 19801. Cert. of Form. filed with DE Sec. Avenue, New York, NY 10011. The 5/27/11. Office location: NY Co. SSNY Org. filed with DE Secy. of State, be determined in New York City. of State, 401 Federal St., Dover, DE principal business address of the LP designated as agent of LLC upon Townsend Bldg., Dover, DE 19901. Purpose: any lawful act or activity. 19901. Purpose: all lawful purposes. is: 1221 Avenue of the Americas, 15th whom process against it may be Purpose: any lawful activity. Floor, New York, NY 10020. Delaware served. SSNY shall mail process to: NOTICE OF QUALIFICATION OF Notice of Formation of Col Kagen address of LP: c/o The Corporation c/o National Registered Agents, Inc., Notice of Formation of NUMBER Halcyon Loan Trading Fund LLC. App. LLP. Cert. of Reg. filed with Secy. of Trust Company, 1209 Orange Street, 875 Ave. of the Americas, Ste. 501, TWENTY LLC. Arts. of Org. filed with for Authority filed with the Sect. of State of NY (SSNY) on 9/16/11. Office Wilmington, DE 19801. Certificate of NY, NY 10001, also the registered Secy. of State of NY (SSNY) on State of NY (SSNY) on 8/10/11. N.Y. location: NY County. Princ. office of LP filed with Secretary of State of agent. Purpose: any lawful activities. 9/9/11. Office location: NY County. Office Loc: NY County. LLC formed LLP: 570 Lexington Ave., Ste. 1600, NY, Delaware located at: Federal and Duke Princ. office of LLC: 149 Madison in DE on 7/14/11. SSNY has been NY 10022. SSNY designated as agent of York Streets, Dover, DE 19901. Notice of Formation of 712 WEST Ave., 7th Fl., NY, NY 10016. SSNY designated as agent of LLC upon of LLP upon whom process against it Purpose: any lawful act or activity. ASSOCIATES LLC. Arts. Of Org. filed designated as agent of LLC upon process against it may be served and may be served. SSNY shall mail with Secty of State of NY (SSNY) on whom process against it may be shall mail process to: c/o Walkers process to the LLP at the addr. of its Notice of Qualification of Top Hat 9/27/11. Office location: New York served. SSNY shall mail process to Corporate Services Delaware Ltd., 200 princ. office. Purpose: Law practice. Photo Booths, LLC. Authority filed County. SSNY designated as agent of the LLC at the addr. of its princ. Bellevue Pkwy, Ste 170, Wilmington, with NY Dept. of State on 8/11/11. LLC upon whom process against it may office. Purpose: Any lawful activity. DE 19809. DE addr. of LLC: 200 Notice of Formation of Gotham Gas Office location: NY County. Princ. be served. SSNY shall mail process Bellevue Pkwy, Ste 170, Wilmington, & Electric LLC. Arts. of Org. filed with Bus. Address 19 Lockhart Ln., to: The LLC, Attn: General Counsel, NOTICE OF FORMATION OF LIM- 19809. Cert. of Form filed with DE Secy. of State of NY (SSNY) on Pemaquid, ME 04558. LLC formed in 521 Fifth Avenue, Suite 1804, New ITED LIABILITY COMPANY. NAME: Sect. of State, PO Box 898, Dover, DE 8/23/11. Office location: NY County. SD on 1/19/11. NY Sec. of State York, NY 10175. Purpose: Acquisition JOGGLE MEDIA LLC. Articles of 19903. Purpose: any lawful activity. SSNY designated as agent of LLC designated agent of LLC upon whom of a 40 unit apartment building. Organization were filed with the upon whom process against it may process against it may be served Secretary of State of New York Notice of Formation of PACT13 LLC. be served. SSNY shall mail process and shall mail process to: Robert B. NOTICE OF FORMATION of STORE- (SSNY) on 09/23/11. The latest Arts. of Org. filed with Secy. of State to: The LLC, 10115 E Bell Road, Ste. Lockhart, Sr., 19 Lockhart Ln., FRONT SCIENCE, LLC. Article of date of dissolution is 12/31/2050. of NY (SSNY) on 9/8/11. Office loca- 107-405, Scottsdale, AZ 85260. Pemaquid, ME 04558. Articles of Organization filed with Sec’y of State Office location: New York County. tion: NY County. SSNY designated Purpose: any lawful activity. Organization filed with SD Sec. of of NY (SSNY) on 08/19/2011. Office SSNY has been designated as as agent of LLC upon whom process State, 500 E Capital Ave., Pierre SD Location: NY County. SSNY has been agent of the LLC upon whom against it may be served. SSNY shall Notice of Qualification of Stonepeak 57501. Purpose: all lawful purposes. designated as agent of the LLC upon process against it may be served. mail process to: 187 Lafayette St., Associates LLC. Authority filed with whom process against it may be served. SSNY shall mail a copy of process 4th Fl., NY, NY 10013. Purpose: any NY Dept. of State on 8/15/11. Office Notice of formation of CITY MASSAGE SSNY shall mail process to: The LLC, to the LLC, 12 Desbrosses Street, lawful activity. location: NY County. Princ. bus. addr.: THERAPY LLC. Articles of Organiza- 730 Ft. Washington Ave, 6C, NY, NY New York, New York 10013. 717 5th Ave., 14th Fl., NY, NY 10022. tion filed with the Secretary of State 10040. Purpose: any lawful activities. Purpose: For any lawful purpose. Notice of Formation of PEAK LLC formed in DE on 7/26/11. NY Sec. of NY (SSNY) on 8/19/2011. Office ANACAONA LLC. Arts. of Org. filed of State designated agent of LLC upon location: NEW YORK County. SSNY BEND IN THE ROAD, LLC Articles of Notice of Qualification of 399 Services with Secy. of State of NY (SSNY) on whom process against it may be served has been designated as agent upon Org. filed NY Sec. of State (SSNY) LLC. Authority filed with NY Dept. of 10/07/11. Office location: NY County. and shall mail process to: c/o CT whom process against it may be 6/20/11. Office in NY Co. SSNY State on 8/31/11. Office location: NY Princ. office of LLC: 200 E. 72nd St., Corporation System, 111 8th Ave., N Y, served. The Post Office address to desig. agent of LLC upon whom County. Princ. bus. addr.: 800 PHJ, NY, NY 10021. SSNY designated NY 10011, regd. agent upon whom which the SSNY shall mail a copy of process may be served. SSNY shall Boylston St., Ste. 1900, Boston, MA as agent of LLC upon whom process process may be served. DE addr. of any process against the LLC served mail copy of process to 30 Leroy St., 02199. LLC formed in DE on 8/29/11. against it may be served. SSNY shall LLC: c/o The Corporation Trust Co., upon him/her is: Beatrix Czagany, NY, NY 10014, which is also the NY Sec. of State designated agent of mail process to Alix Pasquet III at the 1209 Orange St., Wilmington, DE 139 Fulton Street #208, New York, principal business location. Purpose: LLC upon whom process against it princ. office of the LLC. Purpose: 19801. Cert. of Form. filed with DE Sec. NY 10038. Existence is Perpetual. Any lawful purpose. may be served and shall mail process Any lawful activity. of State, 401 Federal St., Dover, DE Purpose: any lawful act or activity. to: c/o CT Corporation System, 111 19901. Purpose: any lawful activity. NOTICE OF FORMATION of FGNY 8th Ave., NY, NY 10011, regd. agent Notice of Formation of CHEN-FA- Notice of Formation: Articles of 2847 Broadway, LLC, Arts of Org files upon whom process may be served. TSIN-CHU, LLC. Arts. of Org. filed THE BOWERY KITCHEN LLC, a Organization of WEDONYC, LLC filed w SSNY on 6/29/10 in NY Co. SSNY DE addr. of LLC: 1209 Orange St., with Secy. of State of NY (SSNY) on domestic Limited Liability Company with the Sec’y of State of NY (SSNY) designated as agent upon whom Wilmington, DE 19801. Cert. of Form. 9/26/11. Office location: NY County. (LLC), filed with the Sec of State of NY on 8/15/11. Office location is NY process may be served and shall mail filed with DE Sec. of State, 401 Princ. office of LLC: 1540 Second on 8/24/11. NY Office location: New County. SSNY is Agent for Service of a copy of any process to CSC, 80 Federal St., Dover, DE 19901. Ave., NY, NY 10028. SSNY designated York County. SSNY is designated as Process, copy of process to: 300 State St., Albany, NY 12207. Principal Purpose: all lawful purposes. as agent of LLC upon whom process agent upon whom process against the Madison Ave., Ste 1600, Toledo, OH bus. address: 2847 B’dway, NYC against it may be served. SSNY shall LLC may be served. SSNY shall mail 43604. Principal business office: 10025. Purpose: any lawful act. Notice of Qualification of Extract mail process to Corporation Service a copy of any process against the LLC 1133 Broadway, Ste 1308, N.Y., NY Capital LP. Authority filed with NY Dept. Co., 80 State St., Albany, NY 12207- served upon him/her to Alessandro 10010. Purpose: any lawful activity. Name of LLC: Fit Connect Media of State on 8/24/11. Office location: 2543. Purpose: Any lawful activity. Zampedri, 220 The Bowery, NY, NY LLC. Arts. of Org. filed with NY Dept. NY County. LP formed in DE on 4/5/11. 10012. General Purposes. Notice of Formation of Times Scare of State: 9/9/11. Office loc.: NY Co. NY Sec. of State designated agent of ML PRESERVATION PARTNERS, LLC, NYC LLC. Arts. of Org. filed with Sec. of State designated agent of LLC LLC upon whom process against it a domestic LLC. Arts. of Org. filed SUTTON EQUITY INVESTMENTS Secy. of State of NY (SSNY) on upon whom process against it may may be served and shall mail process with the SSNY on 06/23/2011. Office LLC, a domestic LLC. Arts. of Org. 9/13/11. Office location: NY Co. SSNY be served and shall mail process to: to the principal business addr.: 55 location: NY County. SSNY has been filed with the SSNY on 08/16/2011. designated as agent of LLC upon c/o Jessica Underhill, 322 E. 85th St., Fifth Ave., Ste. 1702, NY, NY 10003. designated as agent upon whom Office location: NY County. SSNY whom process against it may be Apt 2B, NY, NY 10028, regd. agt. DE addr. of LP: c/o The Corporation process against the LLC may be has been designated as agent upon served. SSNY shall mail process to: upon whom process may be served. Trust Co., 1209 Orange St., served. SSNY shall mail process to: whom process against the LLC may Frank Cresci Jr., 300 W 43rd St., #400, Purpose: any lawful act. Wilmington, DE 19801. Name/addr. Keith Chan Peter Lau Wallace be served. SSNY shall mail process NY, NY 10036, also the registered of genl. ptr. available from NY Sec. of Giakas, 48 Wall St, 11th Fl, NY, NY to: 411 E 53rd St. 6G, NY, NY 10022. agent. Purpose: any lawful activities. NOTICE OF FORMATION OF MAXIM State. Cert. of LP filed with DE Sec. 10005. Purpose: Any Lawful Purpose. Purpose: Any Lawful Purpose. INSTITUTE, LLC. Articles of Org. filed of State, P.O. Box 898, Dover, DE Notice of Qualification of NY Secy. of State (SSNY) 7/6/2011, 19903. Purpose: all lawful purposes. Notice of Qualification of MBD 2011 Notice of Qualification of West Village WorkflowOne LLC. Authority filed Office in NY Co. SSNY designated Holdings, L.P. App. for Auth. filed Residences LLC. Authority filed with with Secy. of State of NY (SSNY) on agent of LLC upon whom process Notice of Qualification of 29 West 57th with Secy. of State of NY (SSNY) on Secy. of State of NY (SSNY) on 3/4/11. Office location: NY County. may be served. SSNY shall mail copy Street Owner LLC. Authority filed with 7/11/11. Office location: NY County. 9/12/11. Office location: NY County. LLC formed in Delaware (DE) on of process to the LLC 41 Elizabeth NY Dept. of State on 12/10/08. Office LP formed in Cayman Islands (CI) on LLC formed in Delaware (DE) on 2/1/11. Princ. office of LLC: 220 E. St, Ste 505, NY, NY 10013. Purpose: location: NY County. Princ. bus. addr.: 5/31/11. SSNY designated as agent 9/9/11. SSNY designated as agent of Monument Ave., Dayton, OH 45402. any lawful act. 210 Route 4 East, Paramus, NJ 07652. of LP upon whom process against it LLC upon whom process against it SSNY designated as agent of LLC LLC formed in DE on 3/9/06. NY Sec. may be served. SSNY shall mail may be served. SSNY shall mail upon whom process against it may be Notice of Formation of Fresco Capital of State designated agent of LLC upon process to: 200 West St., NY, NY process to: c/o Rudin Management served. SSNY shall mail process to Partners, LLC. Arts. of Org. filed whom process against it may be served 10282. CI address of LP: Maples Co. Inc., 345 Park Ave., 33rd Fl., NY, c/o Corporation Service Co., 80 State with Secy. of State of NY (SSNY) on and shall mail process to: c/o CT Corporate Services Ltd., P.O. Box NY 10154, Attn: William C. Rudin. St., Albany, NY 12207-2543. DE addr. 06/30/11. Office location: NY Corporation System, 111 8th Ave., NY, 309, Ugland House, Grand Cayman, Address to be maintained in DE: c/o of LLC: 2711 Centerville Rd., Ste. 400, County. SSNY designated as agent NY 10011, regd. agent upon whom KY1-1104, CI. Name/address of each National Registered Agents, Inc., 160 Wilmington, DE 19808. Cert. of Form. of LLC upon whom process against process may be served. DE addr. of genl. ptr. available from SSNY. Cert. of Greentree Dr., Ste. 101, Dover, DE filed with DE Secy. of State, Div of it may be served. SSNY shall mail LLC: 1209 Orange St., Wilmington, DE LP filed with Registrar of Exempted 19904. Arts of Org. filed with the DE Corps., Townsend Bldg., Dover, DE process to LLC: 36 Sutton Place 19801. Arts. of Org. filed with DE Sec. LPs, Elizabethan Sq., 4th Fl., Phase Secretary of State, Federal & 19901. Purpose: Managed print and South, Apt 8B, NY, NY 10022. of State, 401 Federal St., Dover, DE Four, George Town, Grand Cayman, Lockerman Streets, Dover, DE 19901. promotional marketing services; Purpose: any lawful activity. 19901. Purpose: any lawful activity. CI. Purpose: any lawful activity. Purpose: any lawful activities. document solutions and services.

October 24, 2011 | Crain’s New York Business | 23 nb43p22-24cl.qxp 10/21/11 4:15 PM Page 24

PUBLIC & LEGAL NOTICES

Notice of formation of a Limited Notice of Qualification of Trump Notice of Formation of 4800 Bear Road Notice of Qualification of Krossover Notice of Qualification of HUDSON- Liability Company: Name: THE CIRIC Books LLC. Authority filed with Operating Company, LLC. Arts. of Entertainment, LLC. Fictitious name: VIEW CAPITAL MANAGEMENT, LLC. LAW FIRM, PLLC, Articles of Secy. of State of NY (SSNY) on Org. filed with NY Dept. of State on KOE LLC. Authority filed with Secy. of App. for Auth. filed with Secy. of State Organization filed with the Secretary 10/6/11. Office location: NY County. 10/12/11. Office location: NY County. State of NY (SSNY) on 7/20/11. Office of NY (SSNY) on 8/25/11. Office of State of New York (SSNY) on LLC formed in Delaware (DE) on Sec. of State designated agent of LLC location: NY County. LLC formed in location: NY County. LLC formed in 09/27/2011. Office location: New York 10/3/11. SSNY designated as agent upon whom process against it may Delaware (DE) on 8/10/05. SSNY Delaware (DE) on 1/4/11. SSNY des- County. SSNY has been designated of LLC upon whom process against be served and shall mail process to designated as agent of LLC upon ignated as agent of LLC upon whom the principal business addr.: 145 E. as agent of the LLC upon whom it may be served. SSNY shall mail whom process against it may be process against it may be served. process against it may be served. process to: c/o National Registered 57th St., 11th Fl., NY, NY 10022. served. SSNY shall mail process to: SSNY shall mail process to: The LLC, SSNY shall mail a copy of process to: Agents, Inc., 875 Ave. of the Purpose: any lawful activity. THE CIRIC LAW FIRM, PLLC, 622 East Americas, Ste. 501, NY, NY 10001, Adam W. Rosen, Esq., 9454 Wilshire 40 Worth St., Ste. 826, NY, NY 10013. 20th Street, #2a, New York, NY 10009. also the registered agent. Principal NOTICE OF FORMATION OF Mary Blvd., Penthouse, Beverly Hills, CA DE address of LLC: c/o United Purpose: Any Lawful Purpose. office address: 725 Fifth Ave., NY, Hilton Creative, LLC. Arts of Org filed 90212. Principal office address: Corporate Services, Inc., 874 Walker NY 10022. Address to be maintained with the Secy of State of NY (SSNY) 1880 Century Park E., Ste. 1600, Road, Ste. C, Dover, DE 19904. Arts. on 08/04/11. Office loc: NY. SSNY has of Org. filed with DE Secy. of State, NOTICE OF FORMATION OF IN HER in DE: 160 Greentree Dr., Ste. 101, Los Angeles, CA 90067. Address to Dover, DE 19904. Arts of Org. filed been designated as agent upon whom be maintained in DE: Corporation Townsend Bldg., Dover, DE 19901. IMAGE MUSIC LLC. Arts of Org filed process may be served and shall mail with the Secy of State of NY (SSNY) with the DE Secretary of State, 401 Trust Center, 1209 Orange St., Purpose: any lawful activity. Federal St., Ste. 4, Dover, DE 19901. a copy of any process to the principal on 8/18/11. Office loc: NY Cty. SSNY business address: 57 W. 10th St., NY, Wilmington, DE 19801. Arts of Org. Purpose: any lawful activities. designated as agent upon whom NY 10011. Purpose: any lawful acts. filed with the DE Secretary of State, Notice of Formation of URSA Minor process may be served and shall mail PO Box 898, Dover, DE 19903. Partners, LLC. Arts. of Org. filed with a copy of any process to the principal Notice of Formation of CRIBSIES, LLC. NOTICE OF FORMATION of Orme Purpose: any lawful activities. Secy. of State of NY (SSNY) on business address: 435 E86 St. #2B, NY, Arts. of Org. filed with Secy. of State Square Law, PLLC. Arts. of Org. filed 08/26/11. Off. loc.: NY Co. SSNY of NY (SSNY) on 9/27/2011. Office designated as agent of LLC upon NY 10028. Purpose: any lawful acts. with Secretary of the State of NY NOTICE OF FORMATION OF Classic location: NY County. Princ. office of whom process against it may be (SSNY) on 09/26/11. Office Location: Art International LLC. Arts of Org LLC: 170 E. 83rd St., NY, NY 10028. served. SSNY shall mail process to Notice of formation of DanceWorks NY County. SSNY designated as filed with the Secy of State of NY SSNY designated as agent of LLC agent upon whom process against the LLC, c/o Somin’s Hardware & New York City LLC, a foreign limited (SSNY) on 7/8/11. Office location: NY upon whom process against it may be LLC may be served. SSNY shall Bath, Attn: Beth Thornton, 421 Third liability company. Authority filed with Cty. SSNY designated as agent upon served. SSNY shall mail process to mail copy of process (c/o PLLC): Ave., New York, NY 10016. Purpose: Secy of State of NY (SSNY) on whom process may be served and c/o Kramer Levin Natfalis & Frankel 780 Greenwich Street, #5K, NY, NY any lawful act or activity. 07/21/11. Office location: New York shall mail process to the principal LLP, Attn: Christopher S. Auguste, 10014. Purpose: Law Firm. County. LLC formed in Massachusetts business address: 3467 Eastchester (MA) on 06/16/11. SSNY designated 1177 Ave. of the Americas, NY, NY NOTICE OF FORMATION OF Lyn-Genet Johnny Richie LLC. Arts. Of Org. filed Road #6D; Bronx, NY 10469. as agent of LLC upon whom process 10036. Purpose: Any lawful activity. The Plan LLC. Arts of Org filed with with Secy of State of NY (SSNY) on Purpose: any lawful acts. against it may be served. SSNY shall the Secy of State of NY (SSNY) on Notice is hereby given that a license 8/24/11. Office in NY County. SSNY 7/11/11. Office loc: NY Cty. SSNY mail a copy of any process to the designated agent of LLC upon whom NOTICE OF FORMATION OF principal business address: Attn: Lisa (#TBA) for BEER &WINE has been designated as agent upon whom applied for by PIZZA A CASA INC. process against it may be served. Eleanore T. Kim, M.D., PLLC. Arts of process may be served and shall mail Mara, 124 Marlborough St. #7, Boston, SSNY shall process to John Org filed with the Secy of State of MA 02116. Purpose: Dance company. at retail, in a Restaurant, under the process to the principal business ABC Law at 371 GRAND ST. NY, NY Lindamood, 145 E 16th St., Ste 7K, NY (SSNY) on 08/22/11. Office loc: address: United States Corporation NY, NY 10003. Purpose: General NY Cty. SSNY designated as agent Notice of Formation of Gezunte 10002 for on-premises consumption. Agents, Inc. 7014 13th Ave. Suite 202, upon whom process may be served Brooklyn, NY 11228. Purpose: any Bagel, LLC. Articles of Org. filed with Notice is hereby given that a license, Notice of Formation of KLIGER and shall mail process to: 330 E 33rd lawful acts. the Secretary of State of New York number 1258104 for on-premise St, Apt 3C, NY, NY 10016. Principal (SSNY) on 10/05/2011. Office location: MEDIA ASSOCIATES, LLC. Arts. of liquor has been applied for by the Org. filed with Secy. of State of N.Y. business address: 760 Park Ave, NY, New York County. SSNY has been undersigned to sell liquor, beer & NY 10021. Purpose: any lawful acts. Notice of formation of 1619 THIRD designated as agent upon whom (SSNY) on 7/26/11. Office location: wine at retail in a restaurant under AVENUE UNIT 15D LLC, a domestic process against the LLC may be New York County. SSNY designated the Alcoholic Beverage Control Law Limited Liability Company (LLC). served. SSNY shall mail a copy of as agent of LLC upon whom process at 1122 First Ave., N.Y. ,N.Y. 10065 NOTICE OF FORMATION of SMART Articles of Organization filed with the process to: The LLC., 121 West 19th against it may be served. SSNY shall for on premise consumption. POP99 AGE SOLUTIONS, LLC. Articles of Org. Secretary of State on August 24, 2011. Street, New York, NY 10011. mail process to: c/o Breslow & Corporation t/a The Nuaa filed with Secy. of State of NY (SSNY) NY Office Location: New York County. Purpose: any lawful activity. Walker LLP, 767 Third Ave., New on 05/06/11. Office location: New York Secretary of State is designated as York, NY 10017, Attn: Joel M. FURTHER LANE FARM, LLC Articles County. SSNY designated as agent of agent upon whom process against Walker, Esq., registered agent upon of Org. filed NY Sec. of State (SSNY) LLC upon whom process against it may the LLC may be served. Secretary of Notice of Formation of 4459 Bailey whom process may be served. be served. SSNY shall mail process Avenue Operating Company, LLC. 8/23/2011. Office in NY Co. SSNY State shall mail a copy of any Purpose: any lawful activity. desig. agent of LLC upon whom to: Emmanuel Raheb, 1212 Avenue Arts. of Org. filed with NY Dept. of process against the LLC served upon process may be served. SSNY shall of the Americas, New York, NY 10036. State on 10/12/11. Office location: him/her to: P.O. Box 39, Wyckoff, Notice of Formation of NIERENBERG mail copy of process to 1619 Purpose: Any lawful activity. New Jersey 07841. Purpose: To NY County. Sec. of State designated Broadway, 10th Flr., NY, NY 10019, agent of LLC upon whom process CONSULTING GROUP, LLC. Arts. of engage in any lawful act or activity. Org. filed with Secy. of State of NY which is also the principal business Notice of Qualification of G VALUE against it may be served and shall location. Purpose: Any lawful purpose. mail process to the principal business (SSNY) on 9/23/11. Office location: PARTNERS GP, LLC. Authority filed Notice of Appl. for Auth. of Frost addr.: 145 E. 57th St., 11th Fl., NY, NY NY County. Princ. office of LLC: c/o with Secy. of State of NY (SSNY) Leonard Manager LLC, a foreign Andrea Nierenberg, 420 E. 51st St., Notice of Qualification of CPM GROUP on 10/4/2011. Office location: NY 10022. Purpose: any lawful activity. LLC. Authority filed with Secy. of limited liability company (LLC). Appl. Ste. 12D, NY, NY 10022. SSNY County. LLC formed in Delaware (DE) for Auth. filed with SSNY on 6-24-11. designated as agent of LLC upon State of N.Y. (SSNY) on 6/17/11 under Notice is hereby given that a license the fictitious name CPM Advisory on 9/26/2011. Princ. office of LLC: LLC organized in DE on 6-20-11. Office whom process against it may be 546 5th Ave., 14th Fl., NY, NY 10036. location: NY Cty. SSNY designated (#TBA) for LIQUOR has been applied served. SSNY shall mail process to LLC. Office location: New York County. for by SAIGONNYC LTD at retail, in a LLC formed in Delaware (DE) on SSNY designated as agent of LLC as agent of the LLC upon whom the LLC at the addr. of its princ. process against it may be served. Restaurant, under the ABC Law at 85 office. Purpose: Any lawful activity. 5/31/11. SSNY designated as agent upon whom process against it may be ORCHARD ST, UNIT B NY, NY 10002 of LLC upon whom process against served. SSNY shall mail process to SSNY shall mail copy of process to: for on-premises consumption. it may be served. SSNY shall mail c/o The Maxal Group, Inc., Attn: Mr. Notice of Formation of NORTH the LLC at the princ. office of the LLC. process to: c/o United Corporate DE addr. of LLC: Corporation Service Bruce Sturman, 30 Van Dam Street, CHELSEA CONSTRUCTION COM- Services, Inc., 10 Bank St., Ste. 560, New York, NY 10013. DE address of Rule Of Three Design LLC. Arts. Of PANY, LLC. Arts. of Org. filed with Co., 2711 Centerville Rd., Ste. 400, LLC c/o Nat’l Registered Agents, Inc., Org. filed with NY Dept. of State on White Plains, NY 10606. DE address Secy. of State of NY (SSNY) on of LLC: 874 Walker Road, Suite C, Wilmington, DE 19808. Arts. of Org. 160 Greentree Dr., Ste. 101, Dover, DE 4/17/11. Office in NY County. SSNY 9/14/11. Office location: NY County. filed with Secy. of State of DE, Div. of 19901. Cert. of Form. on file with DE designated agent of LLC upon whom Dover, DE 19904. Arts. of Org. filed Princ. office of LLC: 60 Columbus with DE Secy. of State, 401 Federal Corps., John G. Townsend Bldg., 401 Dept of State, Div. of Corps, 401 process against it may be served. Circle, NY, NY 10023. SSNY designated St., Dover, DE 19901. Purpose: any Federal St. - Ste. 4, Dover, DE 19901. Federal St., Ste. 4, Dover, DE 19901. SSNY shall mail process to Dominic as agent of LLC upon whom process lawful activity. Purpose: Any lawful activity. Purpose: Any lawful act or activity. Ventura, 350 E. 52nd St. #6C, NY, NY against it may be served. SSNY shall 10022. Purpose: General. mail process to c/o Corporation Service Co., 80 State St., Albany, NY Notice of Qualification of EXG 430W37 12207. Purpose: Any lawful activity. LLC. Authority filed with Secy. of State of NY (SSNY) on 9/20/11. NOTICE OF FORMATION of 88 Classic, Office location: NY County. LLC LLC. Article of Organization filed with formed in Delaware (DE) on 9/16/11. the Secretary of State of NY (SSNY) SSNY designated as agent of LLC on 06/16/11. Office location: NY upon whom process against it may County. SSNY has been designated be served. SSNY shall mail process as agent upon whom process against to: c/o CT Corporation System, 111 it may be served. The Post Office Eighth Ave., NY, NY 10011, also the address to which the SSNY shall mail registered agent. Principal office a copy of any process against the address: 805 Third Ave., 7th Fl., NY, LLC served upon him is C/O Jason Don’t miss NY 10022. Address to be maintained White, 3340 Peachtree Road, N.E., in DE: Corporation Trust Center, 1209 Suite 2540 Tower Place, Atlanta, GA Orange St., Wilmington, DE 19801. 30326. Date of Dissolution: n/a. Book of Lists! Arts of Org. filed with the DE Purpose of LLC: to engage in any Secretary of State, 401 Federal St., lawful act or activity. Street address Ste. 4, Dover, DE 19901. Purpose: of Principal Business location is: 20 any lawful activities. Pine Street, #606, N.Y., N.Y., 10005.

24 | Crain’s New York Business | October 24, 2011 20111024-NEWS--0025-NAT-CCI-CN_-- 10/21/2011 8:51 PM Page 1

protesters. Labor has secured office message that business as usual is and storage space for the protesters changing. If they start to change New kids for the bloc at union halls and helped them deal their tune,I will get more concerned with community concerns about and get more engaged to heavily Continued from Page 1 ing how to take risks,how to impro- noise. When protesters felt they hold their feet to the fire to make testers proclaimed Sotheby’s vise, how to march on the street needed more black and Latino in- sure they don’t soften their stance.” “guilty.”A spokeswoman for Sothe- without a permit and not be afraid. volvement in the movement, union by’s said that attempts to interrupt In turn,we’re sharing the organizing organizers made introductions to Corporate spinoffs sales have been unsuccessful and savvy, political connections and outer-borough community leaders The results of the collaboration that workers have been “offered a deep community ties that we’ve and even brought the Rev. Al are spinning off in multiple direc- fair and reasonable contract.” built up through decades.” Sharpton down to the park. tions. Actions directed against The ongoing collaboration be- At first, unions and community At the same time, the ties make Sotheby’s, Verizon and Walmart tween Occupy Wall Street and the groups kept the protesters at arm’s it easier for unions to recruit pro- last week will be followed soon with Sotheby’s workers is just one exam- length, unsure of what to make of testers to attract attention to their an edgy campaign planned for ple of how the city’s labor and com- the upstarts. But they quickly real- campaigns. And they are drawing southeast Queens,one of the neigh- munity groups are piggybacking on ized Occupy Wall Street had be- from the protesters’ playbook, borhoods in the city that has been the movement to further campaigns come too big to ignore and organ- learning to be more flexible and cre- hit hardest by foreclosures. On Oct. that were already under way before ized an Oct. 5 solidarity march that ative and adopting increasingly 30, Mr. Sharpton will lead a “clergy the protests began. From a demon- attracted 15,000 people. A turning militant tactics. and civil rights” march, in an at- buck ennis stration Friday that called for Veri- point came earlier this month when “Smart, progressive institutions TAKING NOTICE: “We’re watching [the protest] tempt to bolster minority participa- zon to reach a fair contract with its the Working Families Party played are figuring out how to work with closely,” said business leader Mike Durant. tion.Several protests will call for the workers to an impromptu million- a key role in getting Brookfield the protesters on their terms,how to extension of the millionaire’s tax. aire’s tax rally that targeted “Gover- Properties to postpone a cleanup of actually build something that’s not And organizers hope to turn out nor 1%”Andrew Cuomo,the protests the park that protesters worried co-opting the movement, how to of New York Communities for more than 50,000 people on Nov.17 have given new energy to campaigns would serve as a de facto eviction. work with it as it is,” said a senior Change. for a massive demonstration to de- that had struggled for traction be- Democratic political consultant. “We still may lose, but it’s the mand more new jobs. fore the occupation began. Symbiotic relationships An Occupy Wall Street labor frame that gives different life to “What you see is the beginning Unions and community groups, Subsequently, ties between the committee meets twice a week. And these campaigns and makes people of a movement,” said Marvin Hol- initially skeptical of the motley col- unions and community groups and heads of several of the city’s top left- not want to be on the wrong side,” land, political action director at the lection of agitators who make up the occupiers grew tighter. Staffers wing organizations have sat down he added. Transport Workers Union, who has Occupy Wall Street, have done a from some of the city’s most power- with protesters on several occasions The local business community is been a fixture at Zuccotti. “I rapid about-face to embrace the ful left-wing groups had been at to discuss specific campaigns, such taking note,particularly of efforts to wouldn’t call it a movement yet, but movement, its audacity and even its Zuccotti Park in a personal capacity as the millionaire’s tax,and to brain- revive the millionaire’s tax. there’s a tremendous amount of quirky inner workings. from the beginning of the protest storm more generally. “We’re watching it closely,” said dialogue that you didn’t have a “We’re learning from each other; and had established credibility The protesters’ frame—“We are Mike Durant,New York state direc- month ago about things that are that’s the dynamic now,”said Austin among the protesters. the 99%”—has given a burst of en- tor of the National Federation of In- wrong with the system and how we Guest, a staffer at advocacy group Relationships built by those ergy to labor and community cam- dependent Business. “This is a change it collectively.” Ⅲ Alliance for a Greater New York, staffers, including several directors paigns, allowing organizers to think death rattle from organizations that who has joined in the protest since of organizing for major unions,have bigger than they have in decades, like the status quo. The governor LISTEN to a discussion at the start. “Organizations are learn- proven crucial both to labor and the said Jon Kest, executive director and Legislature have sent a clear CrainsNewYork.com/podcasts

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October 24, 2011 | Crain’s New York Business | 25 20111024-NEWS--0026-NAT-CCI-CN_-- 10/21/2011 8:23 PM Page 1

terline in two, leaving its affordable- housing business in the public com- Mogul aims for second big coup pany and buying its special servicing arm,which became the basis of a new Continued from Page 1 Andrew saw opportunity,” said Mr. New York University’s Schack In- company, C-III, the hub of his new purchased two special servicers that Lieber, who today is an executive stitute of Real Estate. “It’s going to acquisition strategy. He bought the manage a total of $12.7 billion of managing director at Island Capital take time to pull it all together.” special servicing arm of JER Part- distressed real estate loans, and Group. Mr. Farkas, or “Farkie” to his ners in August. Now the two firms inked a deal for NAI Global, which friends, isn’t worried. He points out control 17.3% of the loan volume in has 350 offices around the globe. Difficult path that he was only 29, and had one special servicing,according to Trepp, The company now manages $150 This time around, however, ex- employee, when he started Insignia. which tracks real estate debt. billion of real estate assets, and Mr. perts caution that some of the outfits “Now I’m 51,and I have 20 years’ Other real estate firms have Farkas pledges to acquire more. Mr. Farkas has purchased, and the experience,” said Mr. Farkas, who picked up special servicers recently, “In chaos and complexity there is pace at which he’s done so, could also owns the Montauk Yacht Club. and bondholders fear the new own- opportunity,” said Mr. Farkas, who pose problems.Integrating disparate He is also no stranger to tough ers are interested in more than just once worked as a stock boy at discount firms scattered around the country is spots.In 1997,for example,Insignia making a handsome income stream chain Alexander’s, which was found- was accused by the U.S.Department for working out the loans.They fret ed by his grandfather. “We want to of Housing and Urban Develop- the new owners may try to pick up buck ennis recreate the business model of ‘It looks like ment of giving $7.6 million in kick- MAN OF MONEY: Andrew Farkas has also the real estate assets on the cheap or building a fully integrated real estate backs to owners of subsidized hous- raised money for Gov. Andrew Cuomo. overcharge for services they provide services company from the distress.” he has a ing. In the end, Insignia paid to through other firms they own. For Mr. Farkas, it’s familiar ter- settle the case, without admitting Mr.Farkas says such concerns are ritory. collection of any wrongdoing. After that relationship ended, unwarranted. Meanwhile, he has Just ask ex-Deputy Mayor Bob The adversarial relationship be- Mr. Farkas returned to his bargain- other issues to address, like priming Lieber. Twenty years ago, the dogs and cats’ tween then HUD Secretary An- hunting roots, eventually setting his NAI and Grubb & Ellis so they can Lehman Brothers banker couldn’t drew Cuomo and Mr. Farkas has sights on Centerline Holding Co., a compete with industry giants. NAI, decide whether Mr. Farkas was a vi- warmed remarkably over the years. diversified company drowning in for example, is a franchise organiza- sionary or crazy when he requested Mr. Farkas went on to head debt. According to Mr. Farkas, tion, and Grubb & Ellis has been in financing for a scheme to scoop up fundraising for Mr. Cuomo in his “nearly the entire free world” ad- disarray for years. Mr. Farkas points busted partnerships and integrate a difficult, time-consuming process, bid to become attorney general in vised him against taking on such a out that Insignia was once a very them into a diversified real estate and the expected synergies may nev- 2006 and reprised the role when he mess. One exception was Stephen prominent commercial broker—so company. er pan out. Worse, some observers ran for governor. Before that, Mr. Ross, Centerline’s former executive good, in fact, that it was bought by With help from Lehman, that see potential conflicts of interest be- Cuomo worked at Island Capital, chairman, as well as the chairman of powerhouse CB Richard Ellis Inc. concept grew to become Insignia tween some of his companies, par- which was busy buying properties The Related Companies, a big real “At Insignia, we revived innu- Financial Group, one of the coun- ticularly between the loan servicing with the investment arm of Dubai. estate development firm. merable companies that had gone try’s largest real estate services com- firms that now account for 70% of According to published reports, the through difficult periods,” said Mr. panies, which was sold off in pieces his new real estate company’s assets. duo invested more than $2 billion Perfect match Farkas. “It is what we do.” Ⅲ over three years for a reported total “It looks like he has a collection before parting company when “The company needed someone of $1.4 billion. of dogs and cats,” said Lawrence Dubai couldn’t pay back debts amid with his creativity,” said Mr. Ross. LISTEN to a discussion at “Where others saw toxic waste, Longua, an associate professor at the credit crisis. Last year, Mr. Farkas split Cen- CrainsNewYork.com/podcasts

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26 | Crain’s New York Business | October 24, 2011 20111024-NEWS--0027-NAT-CCI-CN_-- 10/21/2011 12:44 PM Page 1

of U.S.70% consumers say the economy is still affecting their holiday spending BUSINESS LIVES Source: Brand Keys Inc.

HOT JOBS THE TRUCK STOPS HERE: Steven Lipschutz brings Wafels & Dinges’ goodies to EXECUTIVE the streets of NYC, and also INBOX oversees the 32-person staff. Anne Fisher PRESIDENT ORGANIZATION Downtown Brooklyn Partnership A former JOB DESCRIPTION Oversee and manage a nonprofit economic flophouse development corporation and three affiliated business turns fabulous improvement districts WE’VE ALL BEEN THERE: An out-of- MOST IMPORTANT TASK town client or supplier asks you to Advocating effectively for recommend a place to stay in the investment city that won’t cost a small CREDENTIALS NEEDED fortune. One option, albeit an Bachelor’s degree; five years of unconventional one, is The economic or real estate development experience; Bowery House. Before the hotel fundraising skills; political savvy opened its doors in July, co-owner Alessandro Zampedri recently SALARY $220,000 said, “there was nothing in the RECRUITER Internal city under $100 a night.” DOWNSIDE Dealing with However, he and his business political pressures from various partner, real estate developer stakeholders, constituencies Sanford Kunkel, came across a and city agencies project that Click Modeling UPSIDE Shaping the future of an Agency co-owner Joey Grill had emerging retail, residential and been working on for several years: business community turning an old rooming house at The nonprofit Downtown Brooklyn 220 Bowery into temporary Partnership promotes public and quarters for fashion models who private investment in the area. are in town for photo shoots. —SHANE DIXON KAVANAUGH Mr. Zampedri—a former Formu- la One race car driver who had run a couple of big auto dealerships in Italy before getting into real EXECUTIVE MOVES estate investing—saw potential in the building’s warren of tiny rooms. Capital One: Mike He and Mr. Kunkel envisioned a Slocum, 54, was promoted to president chic, comfortable version of a of commercial European youth hostel. banking and will also buck ennis Messrs. Zampedri and Kunkel serve on the took over from Mr. Grill, investing company’s executive GOTHAM GIGS about $1 million of their own committee. He was money to spruce up 220 Bowery. previously executive vice president, commercial banking. They sprang for amenities like mar- Rosenthal & Rosenthal: Peter Austin, 34, ble bathrooms with heated floors, joined the factoring and finance plus fixtures by Horus; fluffy Ralph company as senior vice president and Wild About Waffles Lauren towels and bathrobes; team leader. He was previously a senior and Wi-Fi throughout the hotel. vice president and account executive at Thanks in part to travel Wells Fargo Trade Capital. Steven Lipschutz arrived in New York in 2009.The Quinnipiac websites Expedia.com and ReServe Inc.: Liam J. Carlos, 59, joined ‘I love that the nonprofit organization as chief University grad’s goal: to become a famous drummer with his band, Booking.com, which began listing financial officer. He was previously vice I’m not Two Rude Dudes. ¶ A month in, the lead singer quit, and Mr. the hotel in August, The Bowery president and controller at The New Lipschutz was forced to face reality.“I got a job selling perfume House filled up fast, with the York Times. behind a occupancy rate to date running Thomson Reuters: Ralf door-to-door in the Bronx.” ¶ That lasted a week.Then Mr. at 97%, Mr. Zampedri said. Roth, 44, joined the Lipschutz spotted an ad on Craigslist for a waffle maker. ¶ After He is the first to admit that information provider desk, that as global head of spending two and a half years running the food truck for Wafels & his inn isn’t for everyone. The Elektron transactions I’m not Dinges, a popular purveyor of Belgian waffles and ice cream, he was second floor still houses nine and enterprise promoted to general manager. Now the native of Norwell, Mass., tenants from the hotel’s earlier solutions strategy. He wearing incarnation as a single-room- was previously a oversees a 32-person staff and four food carts, when he’s not busy occupancy hotel. And some managing director at Deutsche Bank. a suit’ trucking to locations ranging from the streets of Park Slope to the travelers may be put off by the SRS Real Estate Partners: Mark Kapnick, 50, joined the real estate company as a Guggenheim. ¶ Mr. Lipschutz meets his truck at 6 a.m. in Carroll communal bathrooms. senior vice president. He was previously Gardens, where fresh batter is made. By 8 a.m., he’s on the road to Mr. Zampedri noted, “The a senior managing director of retail bathrooms actually offer more leasing and investment sales at Robert serve hungry New Yorkers. ¶ Of the 25 toppings offered, the combo privacy than the locker rooms in K. Futterman & Associates. of pulled pork and pickles marinated in cherry Kool-Aid is the any high-end gym.” L&L Holding Co.: Kevin Fallon, 35, was weirdest, he thinks. ¶ “I love that I’m not behind a desk, that I’m not promoted to senior vice president at the WHAT LODGINGS do you recommend real estate investment company. He was wearing a suit,” the 27-year-old manager said. “And that I make to clients or vendors? Tell us at See EXECUTIVE MOVES on Page 29 food you can eat for any meal.” —alix strauss www.crainsnewyork.com/execinbox.

October 24, 2011 | Crain’s New York Business | 27 20111024-NEWS--0028-NAT-CCI-CN_-- 10/21/2011 12:45 PM Page 1

RÉSUMÉ REVIEW The skinny on trading models Is your job search all it could be? We ask the experts. Academic reveals how helping Wall Street devise compli- the downturn in business? NAME LISA VITALE cated instruments that were created No. Lloyd came from a part of SUMMARY Street’s faith in formulas by packaging mortgages together Goldman called J. Aron that took Consumer goods and services sales and then using models to forecast over bond trading. In the following and marketing executive intensified crisis how well they would perform.Banks years, those people took control of lost billions on these things—basi- other divisions,like equities trading. PROFESSIONAL EXPERIENCE cally because higher-ups had no I see no sign that a counterfaction Totes-Isotoner: director, new business development, 2009-11 BY AARON ELSTEIN idea what they were, but people be- has developed to challenge Lloyd. Partnered in developing social media/marketing plans and optimizing low them were saying the models micro site, which led to 30.52% rise in YTD revenue; collaborated on n the mid-1980s, theoretical showed everything would be OK. Has the financial crisis hurt interest in plan to double sales in two years for Isotoner therapeutic gloves physicist Emanuel Derman Wall Street careers or in modeling? went to work at Goldman Has Wall Street learned its lesson? Is it On the contrary;we just had a record 24 Seven Inc.: director, business development, 2007-09 Sachs, where he helped create relying less on modeling? number of applicants to Columbia’s Delivered $2 million in sales in first year; supervised recruiting team that Ithe complex financial models used I’d like to say yes, but I see few signs financial engineering program. In- generated over 75 major clients and $1 million-plus in new business by traders. He is now director of of change.People are good at forget- terestingly, you could fill up the en- EDUCATION Columbia University’s financial en- ting quickly when they want to. tire class, if you wanted, just with New York University, Stern School of Business, B.S., management, and gineering students from mainland China. M.B.A, marketing and international business program and You worked at Goldman the author of for 16 years. How What about Wall Street would you like to Résumé appears in condensed form. MOVERS & Models. Be- has the firm see changed? EXPERT ADVICE SHAKERS having. Badly. changed since? I wish Obama had been tougher on Excellent sales execs with a strong track record of business development The book, Well, I left nine the banks when he had the chance through internal and external partnerships across multiple industries are Emanuel which comes years ago, but I two years ago. There’s no way that rare. Lisa appears to be such an exec, but she needs sharper branding. out Oct. 25, think there’s the banks should have been al- Secondary capabilities should be cited as enhancements of core Derman explores how still a smart cul- lowed to make a billion in profits or capabilities. The summary should be a hierarchy of her capabilities in the Wall Street’s ture there. whatever a year after getting rescued context of the position she is seeking. And her accomplishments in faith in math- with taxpayer money. Be- previous positions should be prioritized. ematical for- Is CEO Lloyd Blankfein’s cause we let these mulas worsened the 2008 crash. job at risk, given very large insti- —dick batten, director, Karp Resources the firm’s re- tutions remain in- To contact this candidate or to be featured in “Résumé Review,” email us What role did computer models play in cent scan- tact, I worry at [email protected]. exacerbating the financial crisis? dals about steps we They played an important part in and didn’t take. Ⅲ Life. Less taxing.

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28 | Crain’s New York Business | October 24, 2011 20111024-NEWS--0029-NAT-CCI-CN_-- 10/21/2011 2:41 PM Page 1

EXECUTIVE MOVES firm as a partner. She was previously a One Grand Central partner at Ashurst. Place: Perry CORPORATE LADDER Jonathan Ching, 36, joined the firm as of Incantalupo, 39, joined Continued from Page 27 counsel. He was previously vice the Malkin Holdings LEADING HOTELS HOSTS NEW VP previously vice president. president and counsel at The D.E. Shaw property as general Wolters Kluwer Corporate Legal Services: Group. manager. He was PHIL KOSEROWSKI, 37, was appointed vice president of interactive marketing Guidepost Solutions: Hyune Hand, 41, joined as executive vice Kenneth V.Handal, previously a property at The Leading Hotels of the World Ltd., a luxury hospitality organization president and general manager. She was 62, joined the investigation and manager with CB representing more than 430 hotels. Mr. Koserowski will be responsible for previously president of Internet consulting firm as president, Richard Ellis. Assurant Inc.: leading all online advertising, website, e-commerce, solutions and senior vice president of governance, risk and compliance. He Richard J. Lauria, 46, was previously executive vice president, joined the insurance products and and mobile and emerging platform development. global sales and marketing solutions at Mr. Koserowski brings more than 16 years of Dun & Bradstreet. office of the chief executive, at CA Inc. services provider as senior vice president The Week: JRT Realty Group: Ellen Israel, 53, joined Allison Hudson, 33, joined the and chief corporate actuary. He was experience to his new role. Most recently, he served as the firm as a senior director. She was magazine as an account manager. She previously vice president and senior a partner and interactive marketing director with Ogilvy previously a senior transaction manager was previously a senior sales executive at actuary at Vera Carley. & Mather, and prior to that he was vice president, WNET New York Public Media: at Cushman & Wakefield. WebMD.com. Michael interactive marketing, at Sotheby’s International Outside magazine: Bryan Kinkade, 37, Dominick, 56, joined as director of local Kilpatrick Townsend & Realty. He received his undergraduate degree from the Stockton: Wade joined the Mariah Media lifestyle title sponsorship. He was previously a sales University of Notre Dame. —CALLIE EIDLER Blackmon, 47, joined as associate publisher. He was previously consultant at WETA. —callie eidler the law firm as sales director for The New Yorker. counsel. He was previously legal counsel for the Mashantucket Pequot Tribal Nation’s Foxwoods Resort Casino. WeiserMazars: Lora DeSanto, 45, joined the accounting and financial advisory services firm as chief marketing officer. She was previously national marketing director at Grant Thornton. The A Team Executive Management Inc.: Kate Post, 55, joined the outsourcing and staffing firm as president of the staffing division. She was previously the president of Forrest Solutions. Martha Stewart Living Omnimedia Inc.: Jeanne Meyer, 47, joined the media and merchandising company as senior vice president, communications. She was previously executive vice president, corporate communications, at Current Media. Crowe Horwath: George Szabo, 46, joined the public accounting and consulting firm as transaction services partner. He was previously transaction services and private equity practice co-director at J.H. Cohn. Murray Hill Properties: Joseph Hilton, 77, joined the real estate brokerage firm as executive managing director. He was previously team leader of Grubb & Ellis’ China practice group. Gil Robinov, 77, joined as executive managing director. He was previously an executive managing director with NAI Global’s international advisory group. Christopher P.Walther, 29, joined as managing director. He was previously a leasing manager for the LeFrak Organization. Jesse Teitel, 25, joined as a director and member of the international advisory group. He was previously a director at NAI Global. KPMG: Lynne Doughtie, 48, was promoted to vice chair, advisory. She was previously national managing partner, advisory. Carl Carande, 46, was promoted to national managing partner, advisory. He was previously national account leader for the banking and finance sector. CNY Builders: Kenneth Saas, 59, joined the construction and development services organization as executive vice president. He was previously an executive vice president at MDA Construction. Preferred Concepts: Larry Horn, 57, was promoted to executive vice president of client services at the insurance program administrator. He was previously a senior vice president. Jones Day: Alice Yurke, 49, joined the law

EXECUTIVE PROMOTIONS

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October 24, 2011 | Crain’s New York Business | 29 20111024-NEWS--0030-NAT-CCI-CN_-- 10/21/2011 4:06 PM Page 1 chemex / INSATIABLE CRITIC Gael Greene The Durst Organization. The seminar flickr.com THE will take place at the New York University Midtown Center, 11 W. 42nd St., from 8:30 a.m. to 10 a.m. To get details, visit www.scps.nyu.edu/sbe. WEEK To register, email [email protected]. Wong eatery NETWORKING RECEPTIONS AHEAD TUESDAY, NOVEMBER 1 SWAP THE BIZ invites you to its business OCT. 31-NOV. 6 networking event. Sales trainer, speaker is so right and consultant Carol McManus will offer LinkedIn and social media tips to attendees. The event will take place at CONFERENCES AND Slate, 54 W. 21st St., from 6 p.m. to 10 W.Village spot satisfies SEMINARS p.m. The cost to attend is $25 in TUESDAY, NOVEMBER 1 advance and $35 at the door. To egg foo yong craving RETAIL MARKETING SOCIETY presents register, call (917) 306-6618 or visit Christmas ’11: The Retail Forecast. www.swapthebiz.com. with original Asian menu The conference will focus on the holiday sales outlook and consumer and CULTURAL EVENTS hat keeps a fashion trends, and will feature James MONDAY, OCTOBER 31 WHAT HE’S restaurant critic Glassman, an economist at JPMorgan Join the AMERICAN MUSEUM OF dining out after Chase, and others. The conference will NATURAL HISTORY for its 16th annual READING 43 years besides take place at the Fashion Institute of Halloween celebration. Come dressed love, money and Technology, Katie Murphy in costume for trick-or-treating. ROBERT SAUERBERG isn’t simply Amphitheater, Seventh Avenue at West Musical performances, arts and crafts,

irrational hunger? For me, it’s the buck ennis the president of magazine giant W 27th Street, from 8:15 a.m. to 12:15 and other activities offered throughout undying dream that dinner will be WEIRD? Scallops with ducks’ tongues p.m. The cost to attend is $125 for the museum’s halls. The event will take Condé Nast—where he focuses on wonderful. It mostly is tonight at society members and $150 for place at the museum, Central Park West finding new revenue streams, Wong. Our friends have arrived nonmembers, and includes a continental at 79th Street, from 4 p.m. to 7 p.m. especially on the digital side. He’s ahead of us. His Hudson corn breakfast. To get more information and The cost to attend is $9 for museum 7 Cornelia St. also a loyal Condé Nast whiskey cocktail with lavender and to register, call (201) 692-8087 or visit members and $10 for nonmembers. To customer when it comes to his (212) 989-3399 www.retailmarketingsociety.org. purchase tickets and to get more fresh peach is surprisingly tart,just to www.wongnewyork.com leisure reading. my taste, so I order a Cornelia, the information, visit www.amnh.org. TUESDAY, NOVEMBER 1, He has a fondness for three only other cocktail option—Jack AND WEDNESDAY, NOVEMBER 2 THURSDAY, NOVEMBER 3 titles in particular: Golf Digest, GQ Daniels with unfiltered apple cider. REAL ESTATE BOARD OF NEW YORK ARTEK presents the first of three concerts and The New Yorker. There’s a tad too much cinnamon, CUISINE Mostly Asian presents a two-day certified negotiation featuring director Gwendolyn Toth and “Those are my faves,” he said, but lemon juice makes a citric tang. PRICE RANGE Entrées $15-$24 expert course for real estate professionals. guests performing on a restored 18th- pointing out that he plays golf and Not sweet at all, as if custom-made The course will focus on differences century Karl Benedict fortepiano. SERVING Dinner Mon.-Sat.; likes getting help on his game. for me.I’m definitely in a good mood. between competitive hard bargaining Tonight’s performance features a As for why he turns to GQ: “I closed Sunday and collaborative negotiating, ethical program of Mozart and Clementi. The Then come luscious shrimp frit- like to look right,” he said. “And ters crisped in a sweet potato-jicama negotiation techniques, and planning concert will take place at Immanuel RESERVATIONS Never hurt The New Yorker inspires me, it has batter,served in an improbable toss of for negotiation success. The class will Lutheran Church, 122 E. 88th St., at take place at the REBNY Mendik 8 p.m. Tickets are $25 for general such great journalism.” ham, rice noodles and watermelon NOISE LEVEL Manageable Education Center, 570 Lexington Ave., admission and $15 for students and He does read business (Asian pears replace melon this I can’t wait to return. from 9 a.m. to 5:30 p.m. each day.The seniors. To buy tickets or get more week). So much is happening in my books on occasion, but they I will definitely go back. cost to attend both days is $249 for details, call (212) 866-0468 or visit generally take second place. mouth:smooth saltiness of ham,rich board members and $299 for www.gemsny.org/artek20112012.html. fritter crackle, the sauce’s preserved I’ll let them simmer awhile. nonmembers. To register, call —suzanne panara “I’m a magazine reader,” he fish salinity,a grassy crunch of greens. NO HATS Never again. (212) 532-3100 or visit www.rebny.com. observed. To view Crain’s classified events listings, —MATTHEW FLAMM The table is covered with plates. go to www.crainsnewyork.com/events My friends have moved on. I’m still RECEIVERS hooked on fritters. Laos, Bali and home to Malaysia. Join Roy Fenichel Esq. for AND RECEIVERSHIPS, a free accredited And egg foo yong. I never stop Now he’s translated all those continuing legal education class for craving egg foo yong, always with a tastes and more into a highly original lawyers. The class addresses flash of memory: my mother order- menu in this small Cornelia Street considerations in accepting or rejecting ing it in the ’50s, “Sauce on the side, storefront. He did most of the interi- a receivership, who may serve as a please.”Now with lobster and a dried or design himself on a shoestring. receiver and other issues. The class will shrimp crumble on top served in its The only disappointment is the be held at Bank of America, 50 own black-iron skillet, it’s regal and Vietnamese pizza with Issan sausage Rockefeller Plaza, fifth floor, from 8:30 uppity. “It’s just poor food,” chef- and fennel—kale replaces the sting- a.m. to noon. To register, call owner Simpson Wong says. “We ing nettles advertised on our menu. (646) 695-7925 or email [email protected]. were poor and I was the youngest. I It tastes not quite cooked. But then always ordered the egg foo yong. it’s only the first week. Crushed rice WEDNESDAY, NOVEMBER 2 Here,I wanted to make it luxurious.” crackers on top of the Spanish mack- Asian Women in Business invites you mullen

Wong wants us to try the New- erel crudo is a nice touch,too,but the to STARTING YOUR OWN BUSINESS 101. c port steak tataki with rau ram leaves fish could be a bit colder. The seminar, the first in a four-week that comes with bone marrow on After our small plate binge, the series, will provide a comprehensive

brioche and a sprinkle of Amagansett four of us don’t have much appetite overview of the most important aspects m patrick salt. We hadn’t ordered the scallops for barbecue chicken with chrysan- of running a successful business. The seminar will take place at Microsoft, with ducks’tongues but they’ve come themum greens and frisée salad. Per- 1290 Sixth Ave., from 6 p.m. to 8:30 PICK OF THE WEEK anyway, the scallops deliciously fectly cooked,moist and painted with p.m. The cost to attend the entire series JOIN THE COMMITTEE for the Hassenfeld Children’s Center caramelized. It’s the weird little savory marinade, it deserves better. is $30 for members and $74 for tongue he wants us to taste. One of Judy Chen, a veteran of Daniel, nonmembers, or $15 per class for and the KiDS of NYU Foundation Associates for ADULTS IN my least favorite parts, but frying puts her French touch on a real members and $25 per class for TOYLAND: UNDER THE BOARDWALK. The fundraising event will them crisp does make a difference. dessert shocker—duck à la plum. nonmembers. To get more information I’m won by the stickiness of rice noo- Roast duck ice cream, served with and to register, call (212) 868-1368 or feature casino and boardwalk games, cocktails and a buffet dles with pork and sea cucumber star-anise poached plums, a crispy visit www.awib.org. to benefit the Stephen D. Hassenfeld Children’s Center for ragù, more egg and chestnuts—not sugar tuile, a delicate five-spice Cancer and Blood Disorders and the Department of water chestnuts,European chestnuts. shortbread cookie and sparkling CENTER FOR THE SUSTAINABLE BUILT Pediatrics at NYU Langone Medical Center. The event takes Nothing,it seems,is more life-fo- fresh plum soda. I would never dare ENVIRONMENT presents “Sustainable cusing than a heart attack at 40. to judge a restaurant on one thrilling Construction Projects and Integrated place at 583 Park Ave., from 8 p.m. to 11:30 p.m. To get When Wong was well enough to re- evening. Consistency and stick-to- Design.” The free seminar, the second ticket information, call (212) 404-4032 or visit turn to his Café Asean and the new- itiveness are crucial. Yet here I am. in a three-part series, will feature www.kidsofnyu.org/adults-in-toyland-under-the-boardwalk. er Jefferson on West 10th Street, he Those shrimp fritters and the egg panelists Douglas Hocking of Kohn renamed it Jefferson Grill as he fo- foo yong haunted me all week.I can’t Pedersen Fox and Alexander Durst of cused on more healthful eating. It wait to go back. did not survive the economic stall. MON. TUES. WED. THURS. FRI. SAT. SUN. Recently he gave himself a sabbati- Copyright © 2011 by Gael Greene. 10.31 11.1 11.2 11.3 11.4 11.5 11.6 cal,traveling to Singapore,Vietnam, Syndicated by www.insatiable-critic.com.

30 | Crain’s New York Business | October 24, 2011 20111024-NEWS--0031-NAT-CCI-CN_-- 10/21/2011 6:39 PM Page 1

THE CHEAT SHEET The Occupy Wall Street WEEK crowd’s campaign against the top-earning 1% has ON THE drawn attention to a policy idea that many had WEB considered dead: the OCT. 17-21 so-called millionaire’s tax. NEW YORK’S “MILLIONAIRE’S TAX” IS FOR “MILLIONAIRES” IN NAME CRAINSNEWYORK.COM ONLY The current state income-tax surcharge on the wealthiest New Yorkers hits individuals who earn more than $200,000 and couples with incomes above $300,000. Enacted midrecession as a temporary revenue A bear market raiser to help balance New York’s budget, it has enriched state coffers by $14.3 billion since 2009, but is scheduled to sunset Dec. 31. Gov. Andrew for big banks Cuomo has said he will not extend the tax, arguing it would put the state at a competitive disadvantage. op quiz! Which fabled WEALTH MANAGEMENT 2.0 Democrats in Albany are now floating an enterprise made istockphoto actual millionaire’s tax—an 8.97% charge on filers with adjusted gross money last quarter: Goldman Sachs or The New York Times Co.? ¶ Last week, Wall income above $1 million.That’s a 31% increase from the old top rate of P 6.85%. Assembly Speaker Sheldon Silver says his latest millionaire’s tax Street reported its worst quarter since the 2008 financial crisis.Trading revenue at Goldman (which reported a $428 million quarterly loss), Bank of America, Citigroup, JPMorgan Chase will raise $2.8 billion next fiscal year—enough to close the state’s projected $2.4 billion deficit without additional budget cuts.The tax and Morgan Stanley was down 16% over last year’s third quarter when accounting gimmicks appears to have wide appeal: A Siena poll last week showed that 72% of were excluded from the math. BofA saw a 90% drop in fixed-income trading revenue. ¶ The New Yorkers, including 55% of Republicans, favor soaking the richest. New York Times, on the other hand, reported a $15.7 million quarterly profit, compared with a Even some upstate GOP senators are warming to the idea. $4.3 million loss this time last year. ¶ And here’s the rest of the bad bank news that’s fit to THE RICHEST 0.3% The state Department of Taxation and Finance’s print: BofA, JPMorgan and Wells Fargo & Co. were hit with a class-action antitrust lawsuit latest available data show that 27,844 of the 8.5 million personal tax last week that alleges they colluded to fix ATM fees for users who aren’t bank customers. returns filed in New York in 2009 came from households with more than $1 million in adjusted gross income.That’s 0.3%. THE “LIVING WAGE” DEBATE IS BACK. City Council Speaker Christine Quinn approved a Nov. 22 hearing for a contentious living-wage bill that would require employers on city-subsidized projects to pay workers $10 an hour ALL IN CUOMO’S COURT The governor supports a federal tax on with benefits or $11.50 without. The bill has had “significant amendments” since its introduction last year, Ms. millionaires but fears a local version could push high-income earners to Quinn said, including higher revenue thresholds for employers before the new wage mandate kicks in. … MAZEL TOV! leave New York just when the Empire State is trying to rebrand itself as Cornell University announced a partnership with Technion-Israel Institute of Technology to help bolster the upstate business friendly.“The fact that everybody wants it, that doesn’t mean all Ivy’s bid to build a tech campus on Roosevelt Island. The proposed Technion-Cornell Innovation Institute would that much,” Mr. Cuomo said at a press conference last week. “I represent create graduate programs in fields such as mobile and social technology and health care. … BROOKLYN’S HIPSTER the people—their opinion matters—but I am not going to go back and HAVEN IS A-HOPPING. The borough’s Williamsburg and Greenpoint neighborhoods saw home sales jump nearly 70% forth with the political winds.” —jeremy smerd in a year, according to a Prudential Douglas Elliman and Miller Samuel Inc. report. Sales throughout the borough were up 18%, and the median price edged up 5%, thanks mostly to new condominium sales. … TAKE THAT, BOSTON. New York has solidified its spot as No. 2 in venture capital funding, according to a report from PricewaterhouseCoopers and the National Venture Capital Association. While the Big Apple’s VC dollars jumped 43% to $891 million in the third quarter, Boston’s funding dropped by almost half, to $585 million. Celebrate cautiously, though: Venture capital dollars IT’S are at their highest since 2001—right around the time the dot-com bubble LOOK BOTH WAYS—TWICE—BEFORE CROSSING THE TO was popping. … O K AY STREET IN MIDTOWN. The 42-block district is apparently the city’s most dangerous neighborhood for pedestrians, according to a report from advocacy group Transportation Alternates. Between 1995 and 2005, there were more than 8,000 motor-vehicle accidents involving pedestrians in midtown. The Department of Transportation counters that injuries and fatalities are actually down. … FORMER FOOD NETWORK STAR CHEF David Ruggerio filed for Chapter 11 bankruptcy protection for two of his Upper West Side restaurants: Bomboloni and Jalapeño. … BENCHED: The city LOVE installed two extra-wide (and extra sleek) steel benches in front of a senior center in Chelsea, the first of 1,000 to be sprinkled throughout town in the next three years. —emily laermer YOUR WORK Crain's 2011 Best Places to Work in NYC Luncheon

Join Crain's New York Business on December 2nd as we unveil the rankings of the 2011 Best Places to Work in New York City. We will also bring together leaders from the Best Places to Work for a panel discussion on how to create environments that allow employees to excel, and hear from innovators on the topics of workplace culture, talent, salaries, retention, recruitment and diversity.

Don’t miss the opportunity to network and learn from the best!

Date: Friday, December 2, 2011 Time: 12:00pm - 12:30pm Registration & Networking 12:30pm - 2:00pm Lunch & Rankings Revealed Location: The Sheraton, 811 Seventh Ave NY, NY Table of Ten: $2,500 if pre-registered by 11/15; $2,999 thereafter Individual Ticket: $250 if pre-registered by 11/15; $299 thereafter

REGISTRATION: crainsnewyork.com/events-bestplaces

October 24, 2011 | Crain’s New York Business | 31 Project13:fp template.qxd 10/18/11 2:14 PM Page 1

3835 Conflans Rd, Irving, TX, United States