HOW to MAKE $$$ in NYC TECH As the City’S Most Vibrant Sector Matures, Ways to Get in on the Growth Multiply

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HOW to MAKE $$$ in NYC TECH As the City’S Most Vibrant Sector Matures, Ways to Get in on the Growth Multiply CRAINSNEW YORK BUSINESS NEW YORK BUSINESS® FEBRUARY 6 - 12, 2017 | PRICE $3.00 HOW TO MAKE $$$ IN NYC TECH As the city’s most vibrant sector matures, ways to get in on the growth multiply. Just ask DataGryd’s NEW YORK BIZ Peter Feldman Page 17 FEELS TRUMP’S TRAVEL BAN P. 7 AND P. 9 BANKING ON BROADWAY CITY WANTS BIGGER SLICE OF AIR-RIGHTS PIE P. 19 OUT-OF- STATE CARS DRIVE THIS NEW YORKER CRAZY P. 20 VOL. XXXIII, NO. 6 WWW.CRAINSNEWYORK.COM NEWSPAPER P001_CN_20170206.indd 1 2/3/17 7:19 PM Dr. Richard Merkin and PRESENT THE Heritage Healthcare Innovation Awards 2017 NOMINATIONS NOW OPEN Who will make up the class of 2017? We are looking for exceptional leaders, pioneers and trailblazers in New York healthcare for the 2017 Heritage Healthcare Innovation Awards. These prestigious awards will recognize the best of today’s healthcare clinicians, administrators and researchers who are making measurable improvements in health status, improving access to healthcare, positively impacting patient quality of care and demonstrating long term aff ordability. Nominations close March 31st and finalists will be honored at a luncheon in NYC on May 22nd Mark Wagar, President, Heritage Medical Systems, Master of Ceremonies Finalists will be awarded in the following categories: ■ Heritage Innovation in Healthcare Delivery Award ■ Heritage Research Investigators in Translational Medicine Award ■ Heritage Healthcare Leadership Award ■ Heritage Healthcare Organizational Leadership Award ■ Heritage Innovators in Healthcare Award For more information, visit crainsnewyork.com/heritage The judging and selection process for fi nalists and winners in the 2017 Heritage Healthcare Innovation Awards is independent of the Crain’s New York Business newsroom Crain'sCN018148.indd Heritage 2017 1 Full Page MECH.indd 1 1/18/171/19/17 11:1212:19 AMPM FEBRUARY 6 - 12, 2017 CRAINSNEW YORK BUSINESS FROM THE NEWSROOM | JEREMY SMERD IN THIS ISSUE It’s Queens’ turn 4 AGENDA 5 IN CASE YOU MISSED IT MANHATTAN HAS THE HIGH LINE. Brooklyn has Brooklyn 6 INSTANT EXPERT Bridge Park. Now it is Queens’ turn to transform a vestige of Uninsured and 7 HOSPITALITY minority patients its past into an amenity for its future. “strikingly under­ 8 ASKED & ANSWERED represented” at A group of New Yorkers is advocating for the creation of city hospitals the QueensWay, a 3.5-mile foot and bike path that would 9 HEALTH CARE transform the derelict former Rockaway Beach branch 10 WHO OWNS THE BLOCK of the Long Island Rail Road into a linear park running 11 REAL ESTATE through southern Queens. The QueensWay would connect 13 VIEWPOINTS neighborhoods and businesses to each other and to public transit while reducing dependency on cars. It would give 15 THE LIST pedestrians an alternative to crossing the borough’s dan- I’ve never seen FEATURES gerous boulevards. 17 MAKING MONEY IN TECH Advocacy group Friends of the QueensWay has any buyer’s “ 19 PLAY RIGHTS received support from the Trust for Public Land to make remorse when 20 CAR WARS the project happen. The two groups visited Crain’s last it comes to week to make their case. “Local residents say it’s time for buying parks the city to invest in this community,” said Karen Imas, a P. QueensWay activist who lives in Forest Hills. 24 ZAMEER The $150 million needed to build the park is hardly chump change. But neither KASSAM is it exorbitant by park-development standards. About $160 million in public funds have been invested in the High Line. And the city has pledged the same amount to buy a parcel to complete Bushwick Inlet Park in Williamsburg. Both are much smaller than the QueensWay’s 47 acres would be. One downside of the project is that it would preclude the option of reclaiming the 24 GOTHAM GIGS railway for mass transit. The Regional Plan Association has proposed using the right- 25 SNAPS of-way for a one-seat ride to JFK Airport. But that’s one of five potential options the 26 FOR THE RECORD group has identified for that purpose, and it’s neither the cheapest nor the easiest. I don’t think some remote transit possibility justifies doing nothing today when 27 PHOTO FINISH it’s clear the QueensWay would immediately benefit six large neighborhoods. All CORRECTIONS the city has to do is assign the acreage to the Parks Department. But the de Blasio Gail Miller Bisher was a producer of the “Two administration has yet to endorse the plan or put money behind it. for me; none for you” Twix candy ad. “The dog whisperer,” published Jan. 30, misstated that - The mayor’s focus has been on housing, not parks. But the two are mutually ben she wrote the tagline. eficial, said Adrian Benepe, a senior vice president at the Trust for Public Land and The Risk! podcast gets an average of 2 million a former city parks commissioner. downloads per month. This figure was misstated A first phase that passes by some big-box stores is already being planned. If the in “Talk is not so cheap,” published Jan. 23. community is serious about its park, it could work on a redevelopment plan that includes retail and apartments. Revenue from the new development’s property taxes could fund the greenway. “I’ve never seen any buyer’s remorse when it comes to buying parks,” Benepe said. CONFERENCE CALLOUT MARCH 1 ON THE COVER MEET CITY HALL’S PHOTO: BUCK ENNIS HOMELESSNESS CZAR Steven Banks, commissioner of the city’s Human Resources DIGITAL DISPATCHES Administration, will discuss the mayor’s plan to address the Go to CrainsNewYork.com rise in homelessness as well as ■ Nordstrom to stop his efforts to change the city’s selling Ivanka Trump > approach to welfare programs. clothing and accessories. THE NEW YORK ■ ATHLETIC CLUB Star architect Bjarke Ingels is looking to move his 8 to 9:30 a.m. firm from Manhattan to a [email protected]. 52,000-square-foot space in Dumbo. Vol. XXXIII, No. 6, February 6, 2017—Crain’s New York Business (ISSN 8756-789X) is published weekly, except for double ■ issues the weeks of June 26, July 10, July 24, Aug. 7, Aug. 21 and Dec. 18, by Crain Communications Inc., 685 Third Ave., Op-ed: The looming L train shutdown is New York, NY 10017. Periodicals postage paid at New York, NY, and additional mailing offices. Postmaster: Send address the next, best chance to find solutions for changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Ave., Detroit, MI 48207-2912. congested city streets. For subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 one year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2017 by Crain Communications Inc. All rights reserved. ■ Extell Development looks to spur sales at three of its condo projects by offering to pay some broker’s fees up front. GETTY IMAGES, BUCK ENNIS, BLOOMBERG February 6, 2017 | CRAIN’S NEW YORK BUSINESS | 3 P003_CN_20170206.indd 3 2/3/17 7:19 PM WHAT’S NEW February 6, 2017 AGENDAMake New York City projects safe, not exclusively for unions nionized construction workers want their industry to be safe, but it would be naive to think that’s why thousands of them flocked to City Hall last week as a hearing began on 21 jobsite-safety bills. In fact, the building trades tell the Uworld incessantly that their members work safely while their nonunion counterparts are at grave risk of severe injury and death. No, that impressive show of force last week was about market share. Nonunion contractors have increasingly been doing work, such as build- ing towers, that was once the exclusive domain of union employers—and the unions are in a perpetual quest to stem the tide. For example, they have been pushing to move into the traditionally nonunion realm of SHOW OF FORCE: Construction unions at City Hall last week called for mandatory apprenticeships, claiming concern for nonunion workers’ safety. affordable-housing construction, arguing that taxpayer-subsidized proj- ects should pay prevailing wages because it is good for society. The City Council’s task here is to protect workers, not steer jobs to should. Apprenticeships and OSHA courses won’t change that dynamic. unions. It must weed out elements of the legislation that are not primarily What will? Unions tout job protection as crucial, because if workers safety-related—notably one that would require aspiring laborers to com- cannot be fired without cause, they have the freedom to insist on safety. plete an apprenticeship, which in some cases would funnel them into the The flip side is that a worker too secure in his job lacks incentive. union that offers the needed apprenticeship. Another bill would require more projects Such programs include safety training, Construction workers usually don’t to have site-safety managers, who have no but that is not their main purpose. The fed- productivity goals to meet. But the number eral Occupational Safety and Health Admin- need to have taken a safety course of qualified site-safety personnel in the city istration, however, does offer 10-hour and to recognize when they’re in danger is insufficient to meet the current demand, 30-hour courses devoted to risk reduction. let alone an expanded one. If the council were to require a safety course, These are just a few of the factors for OSHA’s would seem more appropriate. But let’s be honest: Construction council members to consider. Our concern is that unions’ shows of force, workers usually don’t need a course to know when they’re in danger.
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