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else. Others called formore called drasticmeasures. Others else. andmuch airports tunnels, theregion’swhich runs bridges, oftheagency, gress toexaminethe “organizational structure” urgedCon- theNewJerseystateSenate a unanimousvote, change atthePort ofNew Authority York andNew Jersey.By demandingdramatic forpeopletostart erupted fic caper It didn’t theGeorge Washington takelongafter traf- Bridge ELSTEIN BY AARON ’ NEWSPAPER ink scandal andlotsofred despite politicalinterference, Authorityendures Why thePort “I’ve started hearing peoplesaythatit’s hearing timetobreak the started “I’ve Authority assetslosemoney. annually, butmanyotherPort Tunnel nets$167 million DIVIDE: GREAT CRAIN’S The Lincoln WWW.CRAINSNEWYORK.COM E OKBUSINESS YORK NEW Berger, a former Port Authority executive director.“It would aformerPort executivedirector.“It Authority Berger, Stephen ofthePortferent parts intoindividualagencies,”said managementtwoyearsago as scribed “dysfunctional.” de- Evenaconsultingfirmhired bytheauthority decisions. totwogovernors,that reports hast thateffectively ization simplifythechainofcommandinanunwieldyorgan- tainly intoitsNew agency York wouldcer- andNew Jerseyparts upthe Carving Christie’s Chris friends. jobs bankforGov. amassivegovernment bodythat’s now seenasa Authority, Budget Commission. president oftheCitizens saidCarol Kellermann, Port up,” H LIST THE coverage carefully forhealth toshop Obamacare changes forceowners BUSINESS SMALL REPORT “It could be simpler and cleaner ifyou separatedthedif- couldbesimplerandcleaner “It A breakup mightsoundlikefaircomeuppanceforthePort Largest SBA lenders Page13 lenders SBA Largest wo chiefexecutivesandaboard ® who eachhavevetopower over e RAIGUPonPage18 See BREAKING Page 11 taking effectinApril be newlyhitbylaw 28,000 firmswould In Manhattanalone, blindsides expansion Sick-days to protect enterprises. vulnerable inates hard-foughtexemptions meant lawthatelim- anew public discussion, withoutany wouldunveil, Viverito MelissaMark- Council Speaker City last weekthatMayor deBlasioand Bill law.city’s paid-sick-days must prepare foranexpansionofthe businessownerssands ofsmall who fortensofthou- isticking The clock AND ANDREWJ.HAWKINS BY ADRIANNEPASQUARELLI BRONX BOMBERS Business executiveswere shocked producers wantto producers lure moremento PAGE 21 Broadway shows JANUARY 20-26,2014 PRICE:$3.00 e IKLEAVE onPage19 See SICK e ODTKonPagexx See WORD 20140120-NEWS--0002-NAT-CCI-CN_-- 1/17/2014 5:38 PM Page 1

REPORTER’S NOTE

Waiting for BdB FYICRAINSNEWYORK.COM

I was sitting in the office of a buttoned-down businessman last Charter blows a fuse week, listening to him moan about the new regime at City Hall. It as TWC plays hard-to-get wasn’t about Mayor Bill de Blasio’s fter months of wooing Time Warner Cable plan to tax the rich or his fondness with the M&A equivalent of chocolates for progressive policies that tend to and flowers, Charter Communications has hit businesses square in the wallet. Andrew J. Hawkins A lost patience. “I just don’t know who to talk to,” Last week, after Charter’s latest offer was the executive grumbled. As a rejected, it dispensed insults instead of treats. In bloomberg news reporter, I feel his pain. Uncertainty swirls around the hopes of getting Time Warner shareholders to jump at the $132.50-a-share (or $38 billion) offer brand-new administration. How will the mayor that company management had turned down, Charter called the object of its affections a persuade Gov. Andrew Cuomo to raise taxes? Whom “turnaround project” with the lowest customer satisfaction in the industry and a “failed operating will he appoint next? And how late will the day’s strategy.” Manhattan-based Time Warner’s shortcomings go back half a decade, the spurned suitor press conference start? Thirty minutes? Forty? Mr. de said—way before it lost thousands of subscribers in its programming battle last year with CBS. Blasio’s record is 55. Our complaints elicit indifferent Time Warner held fast to its demand for a $160-a-share offer, however, while others noted that shrugs or snarky remarks from City Hall staffers Charter has the industry’s second-lowest customer-satisfaction ranking.Time Warner also won about the importance of the mayor’s time compared backing from some analysts, like BTIG’s Richard Greenfield, who believes the company will turn with the media’s. Look no further than Twitter to get around this year even without being acquired, and urged it to hold out for its asking price. a sense of how the press corps feels about the shift Whatever the outcome, consolidation appears to be the wave of the future for cable. Charter from the PowerPointing Michael Bloomberg to the argues that bigger scale will allow for greater investment in new technology, better service and more blasé Mr. de Blasio. It’s become a game of one- products, as well as new opportunities for marketers. With any luck, New York will end up with upmanship to post the wittiest comment about the some new combined cable-provider entity that is ranked higher for customer satisfaction than latest delay, even spawning the short-lived Twitter either company. —matthew flamm feed “HowLateWasBdB.”The transition seems to be matching the mayor’s pace. With dozens of key MIXED BAG ON WALL STREET. Four ma- of Nebraska, a role he has held since positions unfilled, politicos inside and outside city jor banks reported mixed earnings re- 2004, he will lead a system of 250,000 HOORAY! sults last week. It was good news for students starting in June. He will earn government are starting to fret about things like the THE Bank of America, where net income $670,000 a year, plus use of a car and NEWSSTAND chain of command.That befuddled business jumped nearly fivefold,to $3.4 billion, free housing. … AOL UNLOADS PATCH. on Astor Place, executive is not alone. Mr. de Blasio has said he is and Goldman Sachs, whose earnings AOL reached a deal to sell most of its featured in rose 8%, to $8.04 billion. Meanwhile, money-losing, hyperlocal Patch news such movies “very comfortable” with his tardiness. After all, he is as Sex and the at Citigroup, net income missed ana- websites to investment firm Hale City, will only three weeks into the job—often called the lysts’ expectations, and JPMorgan Global for an undisclosed amount. reopen Chase’s earnings dropped 7.2%, to The deal is expected to close some Tuesday after second hardest in America. Building a staff takes being time. Last Wednesday, the mayor surprised reporters $5.28 billion,thanks in part to the $2.5 time this quarter. Hale specializes in shuttered last billion settlement related to Bernard turning around underperforming month. gathered in Queens for an announcement about Madoff ’s Ponzi scheme. … FORBES businesses. A year ago, AOL said traffic safety by starting on schedule. Alas, our DITCHES NY FOR NJ. After nearly a cen- about 10% of the Patch sites were OY VEY! euphoria was fleeting:The next day’s presser to unveil tury in New York City,with half of that profitable. AOL will remain a minor- A GROUP OF SENIOR CITIZENS was new commissioners took 43 minutes to get going. time in Greenwich Village, Forbes ity investor. … FLASH DEAL FOR booted from a McDonald’s in Flushing, Media announced it IDEELI. Groupon Queens, for sitting for hours over coffee. Bill was overdue again. will be moving to the ‘We will be bought Manhattan- Garden State. The based e-retailer ideeli firm received $27.1 just as for $43 million, and THIS WEEK IN CRAIN’S million in tax incen- plans to keep it run- tives to relocate 350 aggressive in ning as a separate IN THE BOROUGHS------3 jobs to Jersey City. preventing a website. The pur- IN THE MARKETS------4 The move was far chase was a loss for from shocking, deadly crash shareholders, consid- THE INSIDER ------6 though: Four years on our streets ering that ideeli re- OPINION------8 ago, Forbes sold its ceived $107 million startup Branch for $15 million to help headquarters at 90 as we are in in venture-capital it build a tool that allows people to GREG DAVID ------9 Fifth Ave. to New preventing a funding between connect with others with similar inter- REAL ESTATE DEALS------10 York University for 2007 and 2013. Ideeli ests. Branch will join Facebook at the NEW REPORT: $65 million. … deadly earned $115 million latter’s new HQ at 770 Broadway. … CUNY CHANCELLOR. in revenue in its fiscal OSCAR NODS FOR NYC. Four made-in- SMALL BUSINESS------11 James Milliken, 56, shooting’ year ended February New York films, including The Wolf of will be the new chan- —Police Commissioner Bill 2013,according to fil- Wall Street, received Oscar nomina- FOR THE RECORD------15 cellor of the City Uni- Bratton, on Mayor Bill de ings. ... FACEBOOK tions, compared with three last year. GOTHAM GIGS CLASSIFIEDS ------16 versity of New York. Blasio’s plan to lower BRANCHES OUT. The Leonardo DiCaprio flick led the Producer Mynette Louie Currently the presi- pedestrian fatalities Facebook acquired local pack with nods in five categories. NEW YORK, NEW YORK ------21 only finances films by dent of the University local social-media —emily laermer female directors. P. 7 SOURCE LUNCH------22 CORRECTIONS (SEE PAGE 19) STORIES TO WATCH THIS WEEK vol. xxx, no. 3, january 20, 2014—Crain’s New York Business (ISSN 8756-789x) is published weekly,except for double issues the weeks of June 23,July 7,July 21,Aug.4,Aug.18 and Dec. 22, by Crain Communications Inc., 711Third Ave., New York, NY 10017. Periodicals postage Jan. 21: New Jan. 22: City Jan. 22: City Jan. 23: The New paid at New York, N.Y., and additional mailing offices. Postmaster: Send address changes to: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, Jersey Gov. Chris Planning hosts Council begins School opens its MI 48207-2912. for subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 one Christie’s inaugural public hearing for process to dole out University Center year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2014 by Crain Communications Inc. All rights reserved. celebration on Ellis Two Trees’ Domino committee on Fifth Avenue Island Sugar proposal. chairmanships. and 14th Street.

2 | Crain’s New York Business | January 20, 2014 20140120-NEWS--0003-NAT-CCI-CN_-- 1/17/2014 5:14 PM Page 1

IN THE FUELING UP: Jeremy Wladis’ Custom Fuel BOROUGHS pizzeria is making its New York debut next MANHATTAN week. Chain reaction in Inwood Gentrification brings big-name brands, higher retail rents

BY ADRIANNE PASQUARELLI

Right after Christmas last year, a coffee shop opened in Manhattan’s Inwood neighborhood. Like many other java sellers in the area, the shop touted its café con leche, a drink popular with Dominican res- idents. However, unlike nearby mom-and-pop businesses,the new- comer was a national brand whose name, Starbucks, has become syn-

buck ennis onymous with high-priced joe. “It’s the first Starbucks in In- wood,” explained David Firestein, the Shopping Center Group part- ner who represented Starbucks in Fast pizza=quick dough negotiating for its 1,400-square- foot space on the corner of Dyck- man Street and Broadway. “When to Harlem with a new pizza con- Boeheim and broadcasters Chris Starbucks comes, the likelihood of Jeremy Wladis’ 90-second pies to debut cept offering pies that cook in 90 Cuomo and John Stossel. some more national companies seconds. It also has the potential to “I’m going to promote it,” said coming probably increases.” in Harlem with all-star team of investors put him squarely in the spotlight. Mr. Starks. “Celebrity can bring a Enter the chains. Many brokers Custom Fuel Pizza,with two lo- lot of attention. Obviously that’s predict that Starbucks’ Inwood ar- and AG Kitchen, have been popu- cations in Washington, D.C., will one of the benefits of having me rival—the closest other location is a BY LISA FICKENSCHER lar with local residents, but Mr. surely gain attention in New York, and others on board.” mile away, on West 181st Street— Wladis is hardly a household name. if for nothing other than its all-star Custom Fuel will also feed off a will herald the chain-ification of a Jeremy Wladis has toiled for years Next week, however, the restau- roster of investors, including New culinary trend that is accelerating neighborhood that until now had in relative obscurity—for a New rateur, who wears khaki shorts York Knicks legends John Starks across the country, led by remained relatively free of affluent York restaurateur, that is. His Up- year-round and zips around the city and Anthony Mason, Syracuse California-based Blaze Fast-Fire’d brands.Already,the area,located on per West Side joints,like Firehouse on a push scooter, is branching out University basketball coach Jim See PIZZA on Page 20 See INWOOD on Page 10

A plan to grow tech sector STATS AND THE CITY by Nicholas Wells UNDERWORLD: A water-main break flooded streets in Greenwich Village, that de Blasio would love and a 10-year-old boy fell into a manhole in Borough Park, Brooklyn— reminders that there’s a lot going on under our feet. MILES of track that make up the city’s transit or iPhone, programming and entre- sion shows. That’s where Ms. Mal- system, greater than the distance between Access Code turns preneurial culture to populations that donado is now interning,along with 840New York City and Chicago, 810 miles outer-borough and have traditionally been left out of the fellow Access Code graduate Hasan startup community: women, minori- Priyo, a Bangladeshi immigrant YEAR the Greenwich Village immigrant kids ties, new immigrants and students with a degree in mechanical engi- 1877 water main that burst on Jan. 15 into developers from the city’s public colleges. neering from City College. was installed. Dozens of firefighters responded The program, which ran through to the incident, and water was shut down in the last summer, has done—on a tiny area for 36 hours BY MATTHEW FLAMM ‘The question is, scale—what the new administration would like to see happen citywide, NUMBER OF LETTERS per day that To get an idea of how Mayor Bill de how do you according to an aide to Mr. de Blasio traveled through the now-defunct 95K27-mile, below-ground pneumatic tube system Blasio would like to use New York’s who has been an adviser on tech is- connecting post offices bustling tech sector as a tool for eco- dramatically sues. It has provided the skills that nomic mobility, one need look no scale it up?’ could lead to a good job while help- FEET: Distance that a Brooklyn boy fell to further than Paola Maldonado, a ing to ease the talent shortage that af- the bottom of a manhole while on his 32-year-old former administrative flicts tech firms around the city. 20way to school in Borough Park. He suffered assistant with a degree in English “Access Code is an outstanding minor injuries from Hunter College. program, but it was a pilot,” the aide Sources: Hunter College, Ms.Maldonado quit her job at the to the mayor said. “The question is, NUMBER OF UNDERGROUND STORIES the Metropolitan Transportation Visiting Nurse Service of New York Created by the nonprofit group how do you dramatically scale it up?” Hunter College Sportsplex occupies, making Authority, New York City Department 7 of Environmental Protection, Daily in October,and now develops mobile Coalition for Queens, the program Public-university graduates re- it the deepest building in New York City News, AtlasObscura.com applications as a paid intern. She also helped with introductions to main a largely untapped resource for

gained her coding know-how from a tech companies such as Viggle, startups. Queens College, for in- istockphoto course held by Access Code, a pilot which produces a mobile app that stance,has more than 500 computer- ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY program designed to introduce iOS, rewards users for watching televi- See ACCESS CODE on Page 20

January 20, 2014 | Crain’s New York Business | 3 20140120-NEWS--0004-NAT-CCI-CN_-- 1/17/2014 5:15 PM Page 1 IN THE Riverside Church experiences MARKETS a second coming of sorts by Aaron Elstein

Rev. James Forbes was too evangelical for the tradi- ghazi scandal. tionally liberal institution, accord- “People still believe in what the returns to the pulpit ing to reports. He was replaced by church stands for,” said Len Leach, interim pastor Stephen Phelps,who chair of the church council’s govern- for now; search for a left at the end of last year. ing body.“Maybe we haven’t been as “I suppose it’s highly unusual for much of a presence in the public. successor continues me to be back,” said Rev.Forbes, 78, We have some rebuilding to do.” and added that he isn’t interested in There is a long history of heavy- BY THERESA AGOVINO returning to his former role full- weights like Ms. Clinton speaking time. “It’s been difficult for the at the church, which has been the It’s been so hard for Riverside church to find a match. We want to scene of many historic events. Mar- DON’T BANK ON IT: Church to fill the shoes of the Rev. maintain the church’s multicultural tin Luther King Jr. denounced the Goldman Sachs, led James Forbes that the former senior nature.” Vietnam War at the church. Jackie by Lloyd Blankfein, pastor, who left the pulpit seven Having Rev. Forbes back—even Robinson’s funeral was held at the has seen average compensation dip years ago, is stepping back into the temporarily—once again gives the institution, as was a Mandela me- 42% since 2007. role—at least temporarily. church a high-profile face. Experts morial service that was hosted with

This month, Rev. Forbes re- said that while the church remained the South African Consulate Gen- bloomberg news turned to become the interim pastor eral. That means that the next pas- at the progressive, interracial, inter- ‘It’s been tor must have the gravitas to work denominational church that has with important figures on critical Wall Street pay been a bastion of activism since its social issues. founding 84 years ago. Rev. Forbes difficult for “It’s a huge, historic church. It’s was the first black pastor to lead the known across the country,” said church, and he developed quite a the church to Basil Smikle,president of his name- still in the dumps reputation in his 18 years at its helm. sake political consulting firm in Newsweek once called him one of find a match’ Harlem. “Rev. Forbes is a scholar, a the 12 most effective preachers in nationally recognized figure. You y several measures, 2013 was the best year Wall Street the English-speaking world. He want someone in that vein.” has had since the financial crisis.The stock market was active in the anti-apartheid Finding a pastor is a difficult soared to record highs, and fees collected by movement, and Nelson Mandela enough job without putting such B spoke at the church, on Riverside respected, its star was dimmed by high standards on top of the search, investment bankers rose by 7%, reaching their highest levels Drive and West 120th Street, dur- the lack of a charismatic leader. In experts said. David Elcott, the Taub since 2007. But one very important thing still hasn’t come ing his first visit to the U.S. in 1990. fact, the reverend almost hit a home Professor of Practice in Public Serv- back: pay. The head pastor’s position has run to celebrate his return: former ice and Leadership at the Wagner When Goldman Sachs released full-year results last week, been vacant since the Rev. Brad Secretary of State Hillary Clinton School of Public Service at New Lloyd Blankfein Braxton resigned in 2009, after less was slated to mark Martin Luther York University, said that leading a ’s bank disclosed figures showing that than a year in the post, over contro- King Jr. Day at the church. But she congregation can be harder than average compensation, including bonuses, for its fortunate versy about his $600,000 annual has since pulled out, some say over leading a company. 33,000 employees slipped to $383,000 in 2013—$15,000 salary and concerns by some that he continuing fallout from the Ben- See RIVERSIDE on Page 19 less than the previous year. Investment and corporate bankers at JPMorgan Chase saw their average pay slip by $10,000, to $207,000. At Morgan Stanley, the percentage of

Photo Credit: Buck Ennis revenue that went to pay salaries, division, it was 32%. benefits and bonuses fell by 10%. This newfound parsimony, in Now,it’s tough to shed a tear for part, reflects the will of regulators any of these folks, considering the who want banks to add capital rather average private-sector employee in than fritter away their cash on New York earns about $69,000 a bonuses.But most of the change un- year, according to the state comp- derscores the fact that the Gold- troller’s office. Still, for investment mans of the world are still trying to bankers, the comparison that mat- change with the times. Indeed, one THE BUSINESS OF RESTAURANTS: ters most is this: Back in 2007, the of the more surprising elements re- average Goldman employee was vealed in last week’s earnings reports How the Eatery Industry Serves New York paid $661,000.Whip out a calcula- was how Wall Street banks were un- tor and you’ll see that average pay able to generate sufficient revenue last year was 42% below that. from underwriting and merger work Some of the decline stems from during last year’s strong stock- Crain's Thursday, January 23, 2014 the fact that Wall Street dealmak- market rally to offset declines in Join along with industry John Jay College of ers are doing less business than be- their bond-trading businesses. Criminal Justice fore.While it’s true that banker fees With revenue growth stuck in the leaders to discuss the hot topics. 524 West 59th Street last year, at $83 billion, were on the mud,Wall Street firms are struggling upswing, they were still well below to produce attractive shareholder re- Panelists: 8:30 a.m. - 9:00 a.m.: 2007 levels, when the pool was turns or even cover their costs of cap- > Mathew Glazier, President, The Glazier Group Networking Breakfast $104 billion deep. ital. Goldman’s return on tangible > Carolyn D. Richmond, Co-Chair, Hospitality Practice Group, 9:00 a.m. - 10:00 a.m.: The powers that be at the banks equity was just 11.8% last year—in Fox Rothschild LLP Program are also sharing less of the lucre with boom times last decade, returns on > Andrew Rigie, Executive Director, New York City Hospitality the rank-and-file.A decade ago,the equity were north of 30%—and RBC rule of thumb on Wall Street was Capital Markets expects that figure Alliance $80 for individual ticket(s). > that employees pocketed 50% of will decline this year to 10.4% unless Andrew Schnipper, CEO, Schnipper Restaurants $800 for priority reserved revenue. Last week, Goldman revenues perk up significantly.In this seats of ten (10). Register Today » disclosed that it set aside just 37% of kind of challenging situation, one of revenue to pay its people last year. the best means to prop up sagging re- crainsnewyork.com/events-bizofrestaurants You must be pre-registered to attend Ⅲ this event. No refunds permitted. At JPMorgan’s investment-banking turns is to cut people’s pay. For more information, contact Adrienne Yee at (212) 210-0739 or [email protected] NUMBER OF VENTURE-CAPITAL FUNDING DEALS in the New York metro area in 2013. It was the biggest number of For sponsorship information, contact deals New York has seen since 2001, when there were 446 Sponsored by: Lauren Black at (212) 210-0278 or 441 [email protected] (though still a far cry from the 821 deals in the wild days of 2000), according to the MoneyTree Report from PwC and the National Venture Capital Association, based on data from Thomson Reuters.

4 | Crain’s New York Business | January 20, 2014 VOICE SOLUTIONS FEATURING SIP TRUNKS FROM TIME WARNER CABLE BUSINESS CLASS

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CN016420.indd 1 1/10/14 3:32 PM 20140120-NEWS--0006-NAT-CCI-CN_-- 1/17/2014 6:52 PM Page 1 THE Biz angles for Albany action INSIDER by Andrew J. Hawkins for another reason: After several ness interests. Mr. Durant’s group, Election year offers years of austere budgets, Mr. Cuo- which represents primarily small chance for reforms, mo is projecting a $2 billion surplus companies, strongly opposes Mr. in three years, and business and la- Cuomo’s “property-tax circuit but employers face bor interests are advancing very dif- breaker” for homeowners earning headwind from NYC ferent ideas on how to spend it. up to $200,000. The average break Many business leaders say Mr. would be just $500, but business Cuomo is off to a promising start leaders say it would increase the bur- BY CHRIS BRAGG with his recent proposal to cut taxes den on small businesses, and that by $2 billion.It would reduce the cor- lawmakers should target unfunded A year after social issues dominated porate-tax rate to 6.5% from 7.1%, state mandates that compel local the state legislative session, business bestow a 20% property-tax credit to governments to raise taxes. leaders are hopeful that an election manufacturers and slash estate taxes. in 2014 will refocus lawmakers on Although it would also give an in- Scaffold law targeted improving the state’s poor business come-tax credit to renters making up The Business Council of New climate. Gov. Andrew Cuomo, a to $100,000, labor leaders have York State, an umbrella group that wide world photos wide Democrat, is looking to win his first slammed the plan as “trickle-down” represents mostly big businesses, is / ap re-election by a historic margin, economics. again demanding re- while Republicans and moderate Meanwhile, the form of the state’s anti- Democrats are vying to retain their coalition of 29 Re- The Senate quated scaffold law to Employers’ about-face on sick pay fragile governing majority in the publicans and five reduce the costs of con- state Senate,creating an impetus for Democrats control- listed 2,200 struction. The law hen Mayor Bill de Blasio announced his plan to them to deliver on business issues. ling the 63-member regulations holds contractors and expand the city’s paid-sick-leave law before it “There’s really an opportunity to state Senate this property owners en- had even taken effect, the battle ended before it get back to the issues that Gov.Cuo- month identified tirely liable for gravity- W mo focused on during his first two more than 2,200 state it hopes to related construction began. Reaction from business interests that had been years in office,” said Michael Du- rules and regulations scale back injuries,even if a work- fighting the policy for years was so muted, it amounted to rant, New York state director of the that they claim put er is largely to blame. surrender. Some even cheered as the mayor revealed that National Federation of Indepen- New York businesses Their call for shared li- virtually every concession won by employers in the bill that dent Business. at a competitive dis- ability faces a tough advantage. This fight in the liberal state passed last year would be eliminated. Push from progressives dovetailed with Mr. Assembly, and has Leaders of both the Manhattan and Brooklyn chambers But there’s a headwind from Cuomo’s call for a regulatory reform been held up year after year despite of commerce decided to “applaud” the mayor and the City downstate: Progressives who swept commission during his State of the cries from the business community. to victory in New York City races State address, giving their report’s “I think there’s enough data now Council for “addressing the needs of all workers in New last year, led by the election of May- recommendations strong early mo- about the harm this does to the York City.” Kathryn Wylde, president of the Partnership for or Bill de Blasio,have begun to push mentum. Environmental groups are state’s economy that there could be New York City, was less gushing but also elected not to pick a Mr. Cuomo on an agenda opposed fighting to keep antipollution regu- some movement this year,” said Ken fight, saying she hoped the measure was “crafted to avoid by many business groups. lations and want the surplus spent on Pokalsky, the Business Council’s As the six-month legislative ses- green projects, not income-tax cuts. vice president of government affairs. unintended consequences,” while noting that employers sion gets underway,the political wa- Not all of the governor’s tax plan The group also wants to eliminate share the goal of providing paid sick leave. ters in Albany are especially frothy gets unanimous support from busi- See ALBANY on Page 19 A faint note of protest was cated that they will respect the con- sounded by Andrew Rigie, executive cerns of the business community director of the New York City Hospitali- with regard to aspects of the law that ty Alliance,who expressed confidence are important to avoid undue hard- that his members will be included in ship on employers,” she said. “And negotiations, even if he felt the an- we certainly would rather support nouncement was “premature.” the administration in expanding It was a far cry from the alarm coverage under terms most employ- raised about the bill during the pre- ers can live with than open this up vious administration, when busi- to a blue-sky rewrite by the 51 ness groups warned of job losses members of the City Council.” and higher prices. But the depar- Mr. Rigie added, “No one has tures of Mayor Michael Bloomberg been silent or is scared.” and Council Speaker Christine The announcement Friday by Quinn, who blocked or weakened Mr. de Blasio and Council Speak- bills deemed as anti-business, have er Melissa Mark-Viverito was in- led business groups to acquiesce. evitable, as both had campaigned Some insiders said business on expanding paid sick leave and groups are more concerned with had expressed outrage that the pre- access to the new administration vious bill had been watered down. than fighting a policy that has Still, legislation born of three overwhelming support from coun- years of debate, study and negotia- cil members and constituents. (A tion was overhauled seemingly 2012 poll found 73% of voters sup- overnight, without input from port forcing businesses to supply many members of the council. wealth.investmentnews.com up to nine paid sick days a year.) The measure,which would give “They don’t want to attack too paid sick time to 300,000 more much, out of fear of reprisals,” one employees, represents a funda- powered by City Hall insider said. “They’re mental shift in city government, scared.” said Hunter College political- Ms. Wylde, whose partner- science professor Kenneth Sherrill. ship’s members are mostly larger “The victory on sick leave sends firms that already provide sick pay, a powerful signal that political strongly disagreed that business power has been reallocated in New groups had been neutralized. York,” he said,“even if not much of “The administration has indi- the wealth has been.” Ⅲ sponsored by QUOTE OF THE WEEK: ‘Extreme conservatives ... have no place in the state of New York’ —Gov. Andrew Cuomo

6 | Crain’s New York Business | January 20, 2014 20140120-NEWS--0007-NAT-CCI-CN_-- 1/16/2014 5:08 PM Page 1

BUSINESS 42% Portion of U.S. workers who expect a raise or cost-of-living increase in the next 12 months PEOPLE Source: Glassdoor 4Q 2013 Employment Confidence Survey

EXECUTIVE MOVES ACTION: Next Model Mynette Louie’s Management: Gamechanger Films Kyle finances movies Hagler, 39, joined directed by women. the talent agency as president of Next New York. He was previously senior manager at IMG. McGraw-Hill Education: David Levin, 51, joined the media company as president and chief executive, effective in April. He is currently chief executive of UBM. Spike TV: Frank Tanki, 43, joined the media company as executive vice president of brand marketing and creative. He was previously senior vice president of strategic property planning and marketing at Nickelodeon. Man Made Music: Dan Venne, 34, was promoted to vice president and supervising producer at the sonic branding agency. He was previously senior producer. Kristy Zeigler, 26, joined as manager of brand partnerships and music strategy. She was previously licensing and artists and repertoire agent at The Music Playground/The Lodge. StoryCorps: Robin Sparkman, 44, joined the nonprofit as chief executive. She was previously editor in chief at American Lawyer Media. Eastern Consolidated: Abram G. Bernstein, 22, joined the real estate investment services firm as associate director. He

buck ennis was previously an intern at Univision Communications. GOTHAM GIGS Withers Bergman: David J. Moise, 57, joined the law firm as a partner. He was previously a partner at Hass & Hecht. Bain & Co.: Caperton Flood, 36, was promoted to partner at the management consulting firm. He was A Gamechanger for film biz previously a principal and continues as a member of the industrial goods and services and performance improvement practices. Mynette Louie wants more women behind the camera Keri Larkin, 35, was promoted to partner in the telecommunications, media and technology practice. She Mynette Louie is an award-winning movie and-coming filmmakers, at the Sundance Film was previously a principal. ‘I’m the producer with nine feature films under her belt. Festival this week in Park City, Utah. ¶ “It’s great Hellerman Baretz Communications: Still, upon occasion she has felt slighted by her to get the recognition,” said Ms. Louie, whose Cari Brunelle, 44, was promoted to producer, partner at the corporate male colleagues at meetings. ¶ “You think,‘Is it films include the recently released Cold Comes the communications firm. She was and I’m because I’m a woman? Because I’m Asian? Night. ¶ Ms. Louie stresses that Gamechanger is previously senior vice president. CBIZ MHM: Because I’m short? Because they are in a group?’ ” a for-profit company. So while the firm certainly Jeffrey the boss’ Gluck, 43, was Ms. Louie, 38, said. “So then you say,‘Hey, I’m wants to tell interesting stories, the movies have to promoted to senior managing director at talking. I’m the producer, and I’m the boss.’ ” ¶ make money to convince investors that backing the accounting firm. Women remain second-class executives in a film films directed by women can be lucrative. ¶ Ms. He was previously managing director. industry dominated by men. Only about 25% of Louie, who grew up in Kensington, Brooklyn, Holwell Shuster & producers are female, and women accounted for and went to Harvard, thought pursuing a career Goldberg: Avi Israeli, only 7% of the directors of the 250 top-grossing in the film industry was too risky, despite her love 34, was promoted to partner at the law firm. He was previously an films between 2009 and 2012. ¶ As the president of movies. She worked in publishing and for associate. of Gamechanger Films, which only finances films Internet companies until the events of Sept. 11, Rose Associates: Michael Cormier- directed by women, Ms. Louie is in a position to 2001, persuaded her to take a stab at the movie Burke, 38, joined the real estate development and management create more female bosses in the movie biz. business. She produced the well-received Children company as a manager. He was Started five months ago, Gamechanger has its of Invention, which debuted at Sundance in 2009. previously a leasing associate and trainer at Archstone/Equity first film, Land Ho!, a buddy movie about two Last year, she won the 2013 Independent Spirit Residential. older men, up for the Next prize, awarded to up- Piaget Producers Award. —theresa agovino —eva saviano

January 20, 2014 | Crain’s New York Business | 7 20140120-NEWS--0008-NAT-CCI-CN_-- 1/16/2014 5:09 PM Page 1

OPINION CRAIN’S NEW YORK BUSINESS

Reverse judge’s land grab editor in chief Rance Crain publisher, vp Jill R. Kaplan n a misguided decision this month, a judge set back parks or gardens, lest the right to develop them be lost. EDITORIAL New York University’s expansion plan, the city’s That’s one reason open-space advocates should oppose editor Glenn Coleman managing editor Jeremy Smerd jurisdictional power and the development industry this decision. Another is that the NYU project, when deputy managing editors Valerie Block, all at once. Park lovers could ultimately be losers as complete, will provide much more access to better green Erik Ipsen assistant managing editor Erik Engquist well: In trying to protect public open space, the space than the community currently has, funded and senior news producer Amanda Fung judge may have unintentionally done just the maintained forever by the school.The short-term contributing editor Elaine Pofeldt columnists Greg David, Steve Hindy, Alair Townsend opposite. unavailability of the two parcels—one for about five years, crain’s health pulse editor Barbara Benson Manhattan Supreme Court Justice Donna Mills dismissed the other for four, not for what the judge hyperbolically senior reporters Theresa Agovino, Aaron Elstein, Lisa Fickenscher, Matthew Flamm, five of six arguments advanced by NYU expansion opponents, claimed would be “some or all of the approximately 20 years Daniel Geiger, Adrianne Pasquarelli I Joseph Anuta, Chris Bragg, but she agreed that the university cannot use two strips of city- of the project”—is a small, worthwhile sacrifice. reporters Andrew J. Hawkins, Thornton McEnery owned land as staging areas for the construction, despite the In any case, the city shouldn’t lose control of its land to reporter/videographer Ken M. Christensen City Council’s approval of this common practice.That would Albany (which must news producer Emily Laermer web reporters/producers make it logistically difficult, if not economically unfeasible, for approve park Nazish Dholakia, Irina Ivanova the university to build much of the project, which some NYU- The appellate conversions) because it art director Steven Krupinski deputy art director Carolyn McClain weary locals contend is too large for Greenwich Village. court should let people play and staff photographer Buck Ennis The judge’s ruling hangs on her finding that because of relax there. Should copy desk chief Steve Noveck copy editor Thaddeus Rutkowski the way the two parcels have been used, they are parkland, rule for NYU NYU lose its appeal, it data editor Suzanne Panara although they are not officially mapped as such.The would need the state researchers Eva Saviano, Nicholas Wells problems with the decision begin there: It renders the city and the city Legislature to ADVERTISING, MARKETING AND PRODUCTION senior account managers Irene Bar-Am, map meaningless and dismisses the city’s repeated refusal to redesignate the parcels Jill Bottomley Kunkes, Courtney McCombs, deem the strips parkland. that Justice Mills Suzanne Wilson director of custom content Trish Henry The official map of any locality is the foundation for how unilaterally turned into sales coordinator Lauren Black it is developed. For a judge to declare a nonpark to be a park parks, which is not events coordinator & scheduler Alexis Sinclair is to render the entire city map subject to the whims of the likely to happen because Village Assemblywoman Deborah credit Todd J. Masura (313-446-6097) judiciary, opening future projects to a new line of legal Glick opposes the university’s expansion plans. director of audience & content partnership development Michael O’Connor attack. It is a fundamental rule change that, if upheld on The appellate court should rule unanimously for NYU senior marketing manager appeal, would deter the city and private sector from allowing and the city, clearing the path for this worthy project and Catherine Schutten director of conferences & events empty or underutilized properties to be used temporarily as countless others down the road. Courtney Williams reprint sales manager Lauren Melesio production and pre-press director Simone Pryce advertising production manager CRAIN’S ONLINE POLL COMMENTS Suzanne Fleischman Wies ONLINE AND INTERACTIVE SERVICES senior web developer, interactive Chris Tumminello The mayor’s moves TO SUBSCRIBE: For print and digital subscriptions or customer service, e-mail [email protected] DON’T DIG, DE BLASIO they want. Sachs, where she seems to or call 877-824-9379 (in the U.S. and Canada) or Mr. de Blasio won the elec- have supported several 313-446-0450 (all other locations). $3.00 a copy for A strong argument can be tion by a huge majority, de- Bloomberg initiatives, so I am the print edition; or $99.95 one year, $179.95 two made that Bill de Blasio’s elec- going to give her and Mr. de years, for print subscriptions with digital access.

wide world photos wide spite espousing higher taxes / www.crainsnewyork.com/subscribe

ap tion was a public-service- and government-imposed in- Blasio the benefit of the doubt union push. For four years, the come redistribution that will here. TO ADVERTISE: WILL COUNCIL SPEAKER unions have waited to negoti- ultimately hurt the city. If he —barbara Contact Lauren Black at ate their contracts until tops it off with fulfilling crony [email protected] or call 212-210-0736. MELISSA MARK-VIVERITO www.crainsnewyork.com/advertise Michael Bloomberg was out of contracts with the public- Oh, boy—another Goldman BE GOOD FOR NYC’S office. Why? service unions, New Yorkers Sachs “genius” from finance. FOR INFORMATION ON OUR EVENTS: ECONOMY? A little-known clause of the will have dug themselves a Ah, well, it’s only for four more Contact Courtney Williams at anti-strike Taylor Law is the hole virtually impossible to years—hopefully! [email protected] or 212-210-0257. Yes. Businesses that do more for struggling Triborough Amendment. This get out of. —robert www.crainsnewyork.com/events New Yorkers make our workforce and economy mandates that an expired con- —alan j. dlugash TO CONTACT THE NEWSROOM: stronger. tract’s benefits continue un- New York, N.Y. TAXING PROPOSITION 711 Third Ave., New York, NY 10017-4036 No. The best way to help the economy is to changed until the new contract editorial phone: 212.210.0277 fax 212.210.0799 make it less expensive to do business here. is arranged. New York is the TWO VIEWS ON GLEN Re “Tax cuts, construction only place in the country with dominate Cuomo’s speech” Entire contents ©copyright 2014 Crain Communications Inc. Date of poll: Jan. 14 All rights reserved. ®CityBusiness is a registered trademark such a clause, rendering it dif- I have to say, I am a Michael (CrainsNewYork.com): I am a of MCP Inc., used under license agreement. 241 votes ficult to broker anything from Bloomberg fan and definitely Democrat who strongly sup- a position of austerity. not a Bill de Blasio fan, but ports these cuts. New York CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS The unions have refused Mr. de Blasio’s appointments state is not competitive when it chairman Keith E. Crain president Rance Crain negotiations that would bring so far have been very interest- comes to business. These cuts treasurer Mary Kay Crain their costs in line, while accru- ing and not as terrifying as I would be a major step in the Cindi Crain ing the unaffordable benefits had thought they would be right direction. State taxes executive vp, operations William Morrow 20% 80% of the expired contracts. Now (“De Blasio picks Glen to lead simply need to be more in line Yes No executive vp, director of strategic they have helped elect a finan- NYC development,” Crains with those of other states. New operations Chris Crain cially naive mayor who is NewYork.com). York will never be a low-tax senior vp, group publisher David Klein philosophically aligned with Alicia Glen served in Mr. state, but it needs to be closer vp/production, manufacturing David Kamis them and seemingly irrespon- Bloomberg’s administration to the average. chief information officer Anthony DiPonio sible enough to give them what before moving to Goldman —jeff founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) secretary Merrilee Crain (1942-2012) FOR THIS WEEK’S QUESTIONS: CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 Go to www.crainsnewyork.com/poll to have your say. words or fewer to [email protected]. Please include the writer’s name, company, address and telephone number.

8 | Crain’s New York Business | January 20, 2014 20140120-NEWS--0009-NAT-CCI-CN_-- 1/16/2014 5:52 PM Page 1

KATHRYN WYLDE tional markets. Boosting export activity is critical to increasing eco- Why NY’s business Retailers Wholesalers Restaurants Hotels Oil Dealers Social Services nomic output, adding jobs and re- ducing unemployment. The Part- nership for New York City has plan will succeed calculated that in the city alone,dou- bling exports would lead to 162,000 new jobs over the next decade. fter decades as a laggard in the field of economic The Cuomo administration has Read Adam Friedlander’s contained growth in state spending development, New York state is rolling out initia- How to $ave Big on Workers’ Compensation tives for increasing job opportunities and attract- and outlined a tax-reform package that promises to level the playing ing business investment that put our domestic field with global and domestic com- Call To Save Today competition to shame. petitors. This is particularly impor- While New Jersey announces that it will pay $100,000 per tant because U.S. taxes on business- es and individuals are among the A Adam Friedlander • 800-394-7004, ext. 206 • [email protected] job for companies that cross the Hudson, and the governors world’s highest.The effective feder- www.friedlandergroup.com • www.howtosavebigonworkerscomp.com of Texas and Florida offer a personal tax windfall to CEOs who al, state and city income-tax rate on top earners in New York City is 54% *Underwritten by the NYS Insurance Fund, 199 Church St., NY, NY 10007 relocate to their states,Gov.Andrew a powerful message that we will no of earnings,while London,our chief Cuomo has announced an innova- longer be the highest-cost tax envi- global competitor for talent, has re- tive program to capitalize on New ronment for job creators. duced its all-in rate to 45%. York’s competitive advantages: the Start-Up NY recognizes the new For the business community, depth and diversity of our talent maxim that jobs follow talent. Plac- these new programs and tax actions pool, top-notch higher-education ing job creators on campuses ensures are signals that will trigger job cre- institutions, and the global power that homegrown talent will have ation and capital investment. The and connectivity of our business reason and opportunity to stay in result promises to be organic growth community. New York. in economic activity and revenue to Last year, the governor an- The program also creates a nexus the state and its localities. nounced Start-Up NY,an invitation between university research activity While our neighboring states use to employers to locate jobs on and and business, so the state can see public resources to relocate jobs around college campuses through- more of its discoveries transformed within the region, Mr. Cuomo has out the state.The program offers the into local business and jobs. laid out a much smarter plan to potential for more than 129 million In his State of the State address, “grow the pie” and move forward on square feet of commercial facilities the governor rolled out another a sustainable path toward economic and a target of 10,000 new jobs every breakthrough program called vitality. year.The enticement to employers is GlobalNY, designed to accelerate a source of skilled workers from the and expand the delivery of New York Kathryn Wylde is president and CEO of the colleges and 10 years of no taxes. It’s products and services to interna- Partnership for New York City.

OBAMACARE AND NY STATE Jury’s still out on No. of uninsured 2,270,000 No. on ACA private plans 169,000 Obamacare in NYS % previously insured 56% Medicaid enrollees 61,625 ew York state is being painted as a shining star in Previous enrollees n/a the rollout of the Affordable Care Act.Technical glitches were infrequent, officials claim to be on Institute told Crain’s Health Pulse track to meet their targets, and there has been last week that the estimated cost of only a modest outcry from those who lost their the subsidies for the New York en- previous insurance. rollees was likely to be $3.4 billion N this year. The number seems high, No one seems to have asked how Obamacare has done in but it is the best available. meeting its basic goal: providing health insurance to the The additional cost to Medicaid isn’t clear. In any case, the federal uninsured. The answer seems to be government bears the cost of the that New York has reduced the subsidies and the additional number of uninsured by only 5%. Medicaid expense, not the state. That’s a small number, but the po- New York may actually save money litical ramifications will be large. on Medicaid. Here’s how the math works: The decline in the number of Some 2.3 million New Yorkers uninsured was even smaller in New are uninsured, says the Henry J. Jersey; in Connecticut, it appeared Kaiser Family Foundation. State to be slightly higher. officials announced last week that Here’s why this is so important 169,000 residents had signed up for politically: private plans through the New York Repealing Obamacare will be a exchange. Only 44% of those peo- major plank of Republicans’ cam- ple were previously uninsured, GREG DAVID paigns in the 2014 congressional however. Another 61,625 were races, and they have a receptive au- found to be eligible for Medicaid, dience. One recent poll reported but a large proportion of those sim- previously had no coverage. 56% of Americans view the law ply may have been renewing their Like the other states, the vast unfavorably. The law will survive coverage, although no one knows majority of people enrolling under only if it reaches enough people to how many. Obamacare do so because they don’t form a strong core of voters who That makes the reduction in the make much money and therefore benefit from it. And we are ranks of the uninsured only 5%, as- qualify for significant subsidies— nowhere near that point yet—even suming half the Medicaid enrollees 68% in New York. The Manhattan in New York.

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IN THE BOROUGHS MANHATTAN

to the Upper West Side to happen to us,” she said, noting that the area is Inwood chains already victimized by noisy night- clubs, which are also pushing up Continued from Page 3 Knakal Realty Services,who is mar- prices. “Once these big stores come Manhattan’s northernmost tip, keting a space on Broadway. “Star- and the rents go up, no longer can bounded by the Harlem and Hud- bucks changes the dialogue, and small businesses afford it.” son rivers, has undergone drastic suddenly people who wouldn’t talk One local player is busy strate- changes as more high-income earn- to me six months ago are now inter- gizing. Gus Anton, who was born ers flee southern Manhattan’s pricey ested in leasing space.” and raised in Inwood, opened Park rents for Inwood’s greener pastures, View Restaurant as a diner about a which include Fort Tryon Park. Bank influx dozen years ago. After his rent dou- From 2007 to 2012, ridership at Indeed, though the area is still bled, Mr. Anton, whose eatery is lo- the Dyckman scattered with Domino’s Pizza and cated next door to Starbucks, knew Street A-line 99-cent stores, a few big-name he had to employ drastic measures 2.3M subway station banks, such as Chase and Capital to attract the new residents coming NUMBER OF rose 28%, to 2.3 One, have leased in recent years. to the neighborhood. RIDERS in 2012 million annually, The influx of such banks, as well as Mr. Anton closed the restaurant at Dyckman according to the the urban professionals who fre- COFFEE TALK: Starbucks’ arrival for eight months to renovate it, Street A-line Metropolitan quent them, has pushed retail rents has sparked interest in the area adding expensive light fixtures and station from other major retailers. Transportation to more than $100 a square foot, pasquarelli adrianne exposing brick walls, and reopened Authority. Many with some spaces carrying an asking it this past fall. He changed the $3.43 local retailers are price of $120 a square foot—a near- gerie, an underwear shop previously West 212th inside an art studio.The menu to feature coffee from a roast- PRICE of already seeing ly 30% increase in the past couple of located on Dyckman,moved a dozen previous location attracted lots of er in Tarrytown, N.Y., pastries from Starbucks’ café higher rents as years. blocks and a subway stop north to sunlight and could accommodate 25 SoHo’s Balthazar and hot- con leche landlords take Pricier chains such as Chipotle Broadway and West 212th Street, students at one time, but the new chocolate drinks from trendy sup- advantage of the and some local Asian fusion restau- where it reopened a year ago in the spot can barely fit 18, said Nancy plier Mast Brothers in Brooklyn. $1 area’s gentrifica- rants are all clamoring for Inwood back of a GWB Insurance office. Preston, a yoga instructor there. Though his prices are slightly lower PRICE of local tion. outposts, while fitness brands like After a fire burned down its than Starbucks’, he’s still not doing bodega café con “The demo- Blink—Equinox’s lower-end la- building on West 207th Street and Casting a wary eye as much coffee business as he’d like, leche graphics have bel—are also sniffing around, said Broadway in January 2012, Bread Ms. Preston, who moved to In- he said on a recent weekday morn- changed. Ten brokers. and Yoga,a cooking center and yoga wood 13 years ago from the Upper ing. It’s hard to attract the same years ago, the nationals were Pay- There is room for them. Many studio, spent nearly two years look- West Side, worried about Star- brand recognition as a Starbucks less, McDonald’s, GameStop— longtime locals are getting pushed to ing for an affordable place to set up bucks’ arrival for the potential hav- billboard, he lamented. brands targeting a lower-income side streets as retail thoroughfares shop.Like Brazen Lingerie,it even- oc it might wreak on the neighbor- “A lot of people will drive by and demographic,” said Dylan Murphy, such as Broadway and Dyckman tually found space within another hood’s independent retailers. say,‘Oh,a Starbucks!’and run in,”he director of retail leasing at Massey Street lure bigger fish. Brazen Lin- retail outpost, recently opening on “We don’t want what happened said. Ⅲ

REAL ESTATE DEALS

Creole Restaurant and Bakery re- BARE BONES cently picked the neighborhood for Clothier tries on Crosby St. its first location in New York City. The restaurant signed an eight- oHo’s Crosby Street is about to get even trendier this spring.Fash- than two years ago. year deal for 2,300 square feet on the ion designer Rachel Comey, who founded her namesake, vintage- “The subways are close [to Ms. first floor and in the basement of inspired label a dozen years ago, plans to open her first store at 95 Comey’s store], and it’s a more traf- 2155 Second Ave., between East Crosby St., between Spring and Prince streets. ficked location,” said David Baker, 110th and East 111th streets. The “We feel the most at home in this neighborhood,”explained Ms. the Isaacs and Co. broker who rep- asking rent for the space was $22 a Comey,S who designs womenswear, menswear and shoes, and wholesales to resented both Ms. Comey and Mr. square foot. 100 stores. Her office is located around the corner on Broadway. Regina. He noted that rents on the “We are really happy to be a part Her new 1,800-square-foot store, for which she signed a 10-year lease, southern portion of the strip are of the rejuvenation of the area by replaces a rug seller. lower. closing this deal,” said Sheri Wen- Though several menswear brands, such as Bonobos and Saturdays Surf, It will be a busy spring for the de- den, the City Square Group broker have set up shop farther south on Crosby below Broome Street,the area around signer. She’s also debuting a shoe who represented French Creole. Ms. Comey’s store is still bustling with shoppers and tourists frequenting the collaboration with popular footwear “The new business will be an excel- nearby Crosby Street Hotel.The asking rent for the space, which is owned by brand Camper. lent addition to the area, neighbor- landlord Domenick Regina, was $175 a square foot—as much as 40% more —adrianne pasquarelli hood and culture, as it will be home 587 FIFTH AVE. to authentic cuisine and pastry ASKING RENT; TERM: $50 per goods from the French Caribbean.” square foot; five years trict along West 47th Street. The landlord is Bae Cleaners SQUARE FEET: All in the family The manufacturer designs and Inc., which was represented by 8,700 for one jeweler creates handcrafted jewelry in its Justin McCarthy of Smart City Real TENANT; REP: Art de la Beauté shop, and doesn’t sell directly to the Estate. Corp.; Lily Lin of A.C. Lawrence & Co. A Manhattan jeweler recently inked public. It is a second-generation, —bilal iftikhar LANDLORD; REPS: Zamir Equities; a 15-year lease at 555 Fifth Ave.,at the family-owned business, which was Greg Gang and Catherine O’Toole of corner of East 46th Street, a block another reason the two parties Manhattan gets Tarter Stats O’Toole south of the diamond district. signed such a long-term lease. BACK STORY: The beauty-products Jewels by Star signed for 10,200 “They are a family-run company, a Smashburger company signed a lease, with six square feet on the seventh floor of the and so are we,” Ms. Goodman said. months rent-free, for the entire third 20-story building, where the asking “It helped us all find comfort that Denver-based Smashburger is and fourth floors of the building. rent was $46.50 per square foot, ac- this would be a good fit.” opening its first outpost in Manhat- cording to landlord and building Avi Ben-Ishay of Norman Bo- tan. Landlord Adams & Co. signed for the spaces was about $230 per owner ATCO Property Services. brow & Co. represented the tenant, 15-year leases at 10 W. 33rd St.,be- square foot. ATCO will be renovating the while Peter Goldich of ATCO rep- tween Fifth and Sixth avenues,with The stores, slated to open in the space with its in-house architecture resented the landlord in-house. Richard Greenstein, who will open spring, will take advantage of an area firm,just one of the perks that attract- —joe anuta a Smashburger and a Dunkin’ teeming with foot traffic. “By fran- 555 Fifth Ave. ed the jeweler, also known as JB Star, Donuts there. chising several different brands, we to the property, according to Kate Smashburger will take 5,400 have the opportunity to take advan- Goodman, co-president of ATCO. The location doesn’t hurt, either, French-Caribbean square feet on the ground, mezza- tage of spaces that would be too large “We were able to make their vi- Ms. Goodman added, noting that eatery picks Harlem nine and basement floors, while otherwise,” said Mr. Greenstein. sion come alive,” she said.“And they the LEED silver-certified building Dunkin’ Donuts will have 1,400 Adams & Co.’s David Levy repre- like that we are an owner-managed is a stone’s throw from Grand Cen- East Harlem is adding a pinch more square feet on the ground and base- sented the tenant and the landlord. building.” tral Terminal and the diamond dis- flavor to its culinary scene. French ment levels. The annual asking rent —joe anuta

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SMALL BUSINESS INSIDE The List New York area’s top SBA lenders PAGE 13 ‘We’re hopeful, based on the mayor’s record as public advocate’ —Victor Wong, director, GoBizNYC, on Bill de Blasio’s pledge to lighten REPORT the regulatory load on small businesses, Page 14

FORECAST: Evan Stein of CMIT Solutions sees “a big uptick” in IT expenditures in February and Gearing up March. for growth With the economy MORE OK’S improving, small Small business loan approval rates at firms get set to hire big banks: talent and invest in IT 17.6% 14.9% BY ELIZABETH MACBRIDE

Evan Stein may be one of the best divining rods out there if you are searching for insight about the like- ly path of the small business econo- December December 2012 2013 my in 2014. Mr. Stein, the owner of an IT sales-and-service franchise, Source: Biz2Credit Small Business Lending Index CMIT Solutions of Grand Central and Wall Street, has been talking to They’ll also have to contend with the his small business clients about their continuing rollout of the Affordable spending plans for next year. Care Act and changes in the health Budgets are up, and “pretty much care market, as well as a crackdown everybody I talk to is planning to hire on labor practices and a radically one or two more employees,”he said. changing marketing landscape. Many of the firms—in architec- Here are six trends likely to affect ture,law and finance—are finally bit- small businesses in 2014, for better ing the bullet on delayed IT expendi- or worse. tures.Microsoft is ending support for its XP operating system in April, and ⅷ The economy will continue to improve, a full 25% of Mr. Stein’s client base boosting small businesses. The city still uses old XP machines.“I expect a added 110,000 jobs between Novem- big uptick in February and March,” ber 2012 and November 2013. The he said. One of his clients just spent national economy is expected to im- $500,000, financed over five years, to prove in 2014, which should help the buy 10 computers, a new server and local economy.“The city is on track to new networking equipment. post its third straight year of 2%-plus Like CMIT and its clients,many growth in private-sector jobs,” wrote small businesses are preparing cau- James Brown, a labor market analyst tiously for a year of economic for the New York State Department growth, a slowly rising tide of con- of Labor, in an email. “The only bet- sumer confidence and the tenure of ter period was four straight years be- a new mayor who has promised tween 1997 and 2000. This current

buck ennis some relief from city regulations. See GEARING UP on Page 14 Owners forced to shop around for health care

for several clients at her one-person for the old plan. subsidies.” Despite the fact that the deadline for individual coverage. Entrepreneurs firm, Studio Cicetti Architect PC. “Even the crappiest coverage plan’s network is smaller than that Though New Yorkers already get find they need to Then she got a cancellation no- would have cost me another $20 a offered through her old coverage, most of these mandatory new bene- tice from Oxford for the individual month over what I was paying,” she she is happy with her choice. “I feel fits, such as maternity coverage, a select new coverage plan she had in 2013. With that, said. great about it,” she said. “My few items,like dental and vision care finding new coverage jumped to the Ms.Cicetti ended up buying cov- primary-care physician is on it.” for children, are now required. very carefully top of her to-do list. erage on the New York state health For many of New York’s success- For those who may qualify for It was a rude awakening. Her exchange at a lower price than her ful entrepreneurs, long accustomed federal subsidies, looking for cover- broker told her that to get Oxford previous private insurance through a to buying their own private coverage, age means scrutinizing plans sold on BY GALE SCOTT coverage that cost about the same as new, consumer-operated plan. She Ms. Cicetti’s dilemma is familiar. the fledgling state health ex- the $569 a month—with a $2,000 secured platinum coverage through Faced with meeting the mandates of change—including offerings from Brooklyn-based architect Melissa deductible—that she was paying in Health Republic for $516 a month the Affordable Care Act, many in- companies new to the market. (Un- Cicetti, 46, had enough on her calen- 2013, she would have to shell out with no deductible and a maximum surers have dropped policies and of- der the Affordable Care Act, indi- dar this past fall without thinking about $590 a month for the insurer’s out-of-pocket expense of $2,000. fered new ones that, in some cases, viduals with a net income of under about her health insurance. She was new bronze plan. But that came Ms. Cicetti would not say how are pricier—which made it tricky for $45,900 qualify for federal help with renovating her Red Hook home post- with a higher out-of-pocket thresh- much her firm makes, but added, owners to purchase health care that premiums. The limit for a family of Sandy and juggling design projects old: $5,500, compared with $3,000 “Rest assured, I am not eligible for would kick in by the law’s Jan. 1 See OWNERS on Page 12

January 20, 2014 | Crain’s New York Business | 11 20140120-NEWS--0012-NAT-CCI-CN_-- 1/16/2014 5:12 PM Page 1

REPORT SMALL BUSINESS Owners shopping for health plans

Continued from Page 11 Manhattan broker at Combs & Co. contains the bad news: “Nonpartici- four is $94,200.) who helped Ms. Cicetti choose her pating provider services are not cov- For those who earn too much, new plan. ered, and you pay the full cost.” the quest means also looking at the That fact is not always obvious to That can mean that care at a spe- reconstituted plans sold off the ex- shoppers who focus first on the cialty hospital is not a benefit—or change.Not all of these new options monthly premiums offered, Ms. that it’s time to say goodbye to a have been better ones. Out-of- Combs said.The rate charts for plans physician.“I know a lot of people who COVERED: pocket costs can be higher. Provider sold on the state exchange allow are upset, particularly if they can no Melissa Cicetti networks tend to be smaller—and comparisons on the cost of monthly longer see the same pediatrician or tried new going to doctors or facilities not par- premiums, the size of deductibles, obstetrician,” Ms. Combs said. insurance after ticipating in a plan may be costly. the covered services offered and the The smaller networks offered on her plan was “Not a single plan on the state ex- annual out-of-pocket maximum. the exchanges can be a major deal- canceled. change offers out-of-network cov- But on all of them, a tiny asterisk breaker, agreed Tim Tracy, a Con-

buck ennis erage,” said Susan Combs, the leads to a fine-print footnote that necticut broker whose clientele in- cludes New Yorkers. “People are in two boats,”he said. Entrepreneurs whose earnings are low enough that they can get federal subsidies to help pay premiums “are getting great coverage for their mon- ey, and some of them are thrilled,” Mr. Tracy said. In the other boat are people who earn too much to get the subsidies and want to be sure they can get care at any hospital and from any doctor they choose. Goes both ways Leilani Arita, 33, a freelance de- signer in the Greenpoint section of Brooklyn, is in the happy-with-her- options category. She is enrolling in a silver plan offered by Oscar, a Manhattan startup created to be sold on the exchange. “I’m very excited about getting insurance,” she said. It will be the first coverage Ms. Arita has had since deciding to strike out on her own four years ago. Her old job as a designer for retail chain Anthropologie was fun and came with health coverage. “I made a 10-foot wire egg for the Rocke- feller Center store,” she said. But being independent has brought a variety of clients that made it worth losing company ben- efits.“It’s been a good four years,but I was always nervous about not hav- ing coverage,” she said. Her design business is making money, but not enough to make her ineligible for a subsidy, Ms. Arita said. There’s no such joy at Syzygy3, a profitable Manhattan tech consult- ing company.Founder and principal Sean O’Rourke, 43, said he and his partners are still reeling from the nearly 40% premium increase the company may soon have to pay to provide health coverage for its four full-time employees. Syzygy3’s old Oxford HMO plan costs $533 a month per employee, has modest co-pays but no de- ductible and does not require a refer- ral for specialists.The company picks up a percentage of the cost. But with a rate increase due when the compa- ny plan comes up for renewal in March, the monthly cost per employee will rise to $733 and will include deductibles of at least $2,000 and a maximum out-of-pocket expense of $5,000. Despite the added cost, Mr. O’Rourke opted to stick with his ex- isting plan, instead of trying one on the exchange, because it offers a greater choice of medical providers. “I’m most concerned about offering out-of-network coverage,” he said. “But we’re getting hammered.” Ⅲ

12 | Crain’s New York Business | January 20, 2014 20140120-NEWS--0013-NAT-CCI-CN_-- 1/16/2014 5:13 PM Page 1

THE New York Area’s Top SBA Lenders LIST Ranked by dollar value of loans in fiscal 2013

Dollar value Dollar value Number Number of loans of loans Percent of loans of loans Percent Rank Lender in fiscal 2013 in fiscal 2012 change in fiscal 2013 in fiscal 2012 change

1 NewBank $91,881,300 $61,400,000 +50% 75 56 +34% 2 Noah Bank $71,600,000 $87,915,000 -19% 61 67 -9% LENDERS 3 TD Bank $48,394,700 $30,419,600 +59% 86 93 -8% EYE LARGER 4 JPMorgan Chase Bank $47,632,000 $61,508,500 -23% 514 680 -24% LOANS 5 Newtek Small Business Finance Inc. $27,912,800 $17,299,000 +61% 25 15 +67% FOR LARGER, JOB-CREATING 6 Community National Bank $24,120,000 $25,060,000 -4% 30 29 +3% SMALL BUSINESSES, it’s a good time to get a loan from 7 New York Business Development Corp. $20,470,100 $20,351,300 +1% 32 52 -38% the city’s top lenders. An 8 BankAsiana $16,341,000 $14,410,000 +13% 32 35 -9% increase in the U.S. Small Business Administration’s 9 Wells Fargo Bank $16,092,600 $8,384,200 +92% 40 20 +100% maximum loan guarantee 10 BBCN Bank $14,881,000 $32,310,300 -54% 27 42 -36% from $2 million to $5 million during the past year has 11 Loan Source Inc. $13,185,000 $6,650,000 +98% 12 6 +100% fueled growing interest in 12 Celtic Bank Corp. $12,821,100 $4,075,000 +215% 22 2 +1,000% making larger loans nationwide, according to 13 Citibank $12,542,100 $11,619,600 +8% 24 76 -68% Bernard J. Paprocki, acting 14 KeyBank $12,309,100 $5,674,900 +117% 28 23 +22% regional administrator of the 15 Manufacturers & Traders Trust Co. $12,308,900 U.S. Small Business $17,915,000 -31% 95 134 -29% Administration. 16 BNB Hana Bank $11,875,000 $4,800,000 +147% 9 4 +125% That was especially true among the top SBA lenders 17 Live Oak Banking Co. $11,848,700 $13,485,000 -12% 15 11 +36% for the New York City area, 18 Hanmi Bank $9,800,000 $37,400,000 -74% 2 9 -78% such as NewBank, the institution that loaned small 19 Capital One Bank $8,904,000 $95,000 +9,273% 39 3 +1,200% businesses the most money, 20 Cross River Bank $8,725,000 $4,930,000 +77% 13 10 +30% and Noah Bank, fiscal 21 Square 1 Bank $7,760,000 $1,511,500 +413% 4 1 +300% 2012’s No. 1 lender in dollar volume, and No. 2 in 2013. 22 Sovereign Bank $7,188,500 $3,848,500 +87% 73 60 +22% “At NewBank and Noah 23 Spring Bank $6,780,200 $5,625,000 +21% 7 7 0% Bank, every loan they made was in excess of $1 million,” 24 United Midwest Savings Bank $6,689,700 n/a n/a 2 n/a n/a said Mr. Paprocki. 25 CapitalSource Bank $5,220,625 $4,889,000 +7% 5 7 -29% NewBank and Noah Bank are not alone among lenders 26 Country Bank $5,000,000 n/a n/a 1 n/a n/a in targeting the higher end of 27 1st Constitution Bank $4,830,000 $3,200,000 +51% 15 7 +114% the small business market in New York City. “That’s pretty 28 East West Bank $4,365,000 $2,700,000 +62% 4 7 -43% much the trend we’ve seen,” 29 Empire State Certified Development Corp. $4,324,800 $2,305,700 +88% 30 19 +58% Mr. Paprocki said. Generally speaking, he said, banks 30 Grow America Fund Inc. $4,095,000 $2,611,000 +57% 3 4 -25% are “starting to loan 31 Woori America Bank $3,705,000 $300,000 +1,135% 7 2 +250% money to a little larger business that probably 32 Empire State Bank $3,201,000 $5,625,000 -43% 7 7 0% employs more people.” 33 People’s United Bank $3,089,100 $1,370,000 +125% 9 4 +125% Overall, JPMorgan Chase (No. 4) issued the 34 Spirit of Texas Bank $2,794,300 $1,877,000 +49% 8 5 +60% most loans (514). 35 Stearns Bank $2,663,000 $50,000 +5,226% 2 1 +100% While current trends might seem to leave smaller 36 Genesee Regional Bank $2,350,000 n/a n/a 1 n/a n/a borrowers out in the cold, Mr. 36 Republic First Bank (Republic Bank) $2,350,000 $300,000 +683% 2 1 +100% Paprocki notes that the SBA will be trying to encourage 38 BCB Community Bank $2,240,000 $2,000,000 +12% 4 1 +300% more loans under 39 First Niagara Bank $2,054,000 $1,100,000 +87% 17 3 +467% $150,000 this year. Starting Oct. 1, 2013, the 40 Bethex Federal Credit Union $1,962,500 $1,229,000 +60% 25 10 +150% SBA waived all fees on 7(a) 41 Wilshire State Bank $1,920,000 $2,792,500 -31% 10 7 +43% loans—which provide working capital—of $150,000 or less. 42 First Trade Union Bank $1,800,000 $2,150,000 -16% 4 3 +33% By lowering the costs of SBA 43 HSBC Bank USA $1,730,000 $3,906,000 -56% 15 34 -56% loans, the agency hopes these deals will become 44 PNC Bank $1,688,100 $1,598,000 +6% 5 7 -29% more competitive, pricewise, 45 Ridgestone Bank $1,650,000 n/a n/a 1 n/a n/a with other types of loans that lenders have been 46 Hana Small Business Lending Inc. $1,300,000 $1,250,000 +4% 2 2 0% emphasizing instead. 46 Shinhan Bank America $1,300,000 $2,340,000 -44% 7 5 +40% “We’re hoping that lenders will be taking more 48 Bank of America $1,295,000 $1,770,000 -27% 17 13 +31% of a chance by using the SBA 49 Continental Bank $1,250,000 n/a n/a 1 n/a n/a guarantee—and freeing up 50 Indus American Bank $947,500 $127,800 +641% 2 1 +100% more credit,” Mr. Paprocki said. The U.S. Small Business Administration’s New York District includes New York City and Dutchess, Nassau, Orange, Putnam, Rockland, Suffolk, Sullivan, Ulster and Westchester counties. Rankings are for the fiscal year ended Sept. 30, ELAINE POFELDT 2013. Figures include both banks’ 7(a) loans (loans to businesses unable to secure financing on reasonable terms through normal lending channels) and certified development companies’ 504 loans (long-term, fixed-rate financing for — major fixed assets). In cases of tied figures in the dollar value of loans, lenders are listed alphabetically. n/a-Not applicable. These banks did not make loans that year.

January 20, 2014 | Crain’s New York Business | 13 20140120-NEWS--0014-NAT-CCI-CN_-- 1/16/2014 5:13 PM Page 1

REPORT SMALL BUSINESS

mandate that all businesses with on whether the rules are valid. Ris- more than 50 employees provide in- ing power prices are bad news in Gearing up for growth surance or face penalties that could New York. Prices statewide are the reach into the tens of thousands of second highest in the nation for dollars. One thing to keep an eye on electricity and 19th highest for nat- Continued from Page 11 ulatory concerns stemming from this year: regulations expected to ural gas,according to the Energy In- growth was achieved even though the Dodd-Frank financial-services MAYOR’S PLAN clarify whether employees at associ- formation Administration. the city’s large financial sector has reform legislation,but other entities ated businesses will count toward Ⅵ been basically treading water the last are moving into the spaces where the Piloting a program to cut fines the 50-employee trigger. ⅷ The marketing landscape will contin- two years and is not expected to im- big banks don’t want to tread. New for noncritical violations Meanwhile, small companies ue shifting.The first sign of renewed by 10% in five prove significantly in 2014.” players include nonprofits, short- community districts should be on the lookout for more ag- confidence among small businesses The key drivers in 2014:technol- term lenders, crowdfunders and gressive agency enforcement of is a bigger marketing commitment. ogy,tourism, health care and educa- technology firms. Interest rates may Ⅵ Revealing how wage-and-hour laws. “We’ve heard But small business owners emerging tion.The city’s growth will continue be higher, but financing is available. much revenue anecdotally about a lot more on-site from survival mode may be stunned outpacing that of surrounding areas, comes from specific audits from city and federal inspec- by the changes to the marketing fines too. According to the Federal Re- ⅷ The new mayor will advocate for busi- tors. What they’re looking for is off- landscape. Smart marketers target serve Bank of New York’s recently nesses but faces big hurdles. Bill de Ⅵ Starting a regulatory review the-clock work and unpaid interns. clients where they are, which in- released index of coincident eco- Blasio proposed a five-point plan to panel It’s seen as a revenue generator,” said creasingly means reaching them on nomic indicators,the city’s economy prevent the city from abusing its Ⅵ Allowing small businesses to Matt Steinberg, a New York-based smartphones and tablets. By 2016, in November expanded at a healthy regulatory power. He’s talking the contest fines by phone and email partner at Akerman. tablet sales will overtake the sales of pace—faster than those of the state talk, but most mayors pay at least lip Ⅵ Appointing advocates desktop and laptop PCs, according and New Jersey. service to lightening the regulatory (red-tape cutters) to help small ⅷ Energy prices will rise. Prices for to Forrester Research, which does load on small businesses. “We’re businesses deal with city energy are expected to increase at research and analysis on IT firms. ⅷ Credit will be easier to get. Midway hopeful, based on his record as pub- government faster than the rate of inflation in The new landscape requires in- through 2013, the Federal Reserve lic advocate,” said Victor Wong, di- ap photo 2014; the U.S. Energy Information vestments in websites that can adapt Bank of New York released a survey rector of GoBizNYC, a small busi- Administration predicts underlying to mobile phones, and almost every that found that for 49% of 800 busi- ness initiative spearheaded by the ⅷ Federal changes, including the ACA commodity prices will rise by 2.1% small business owner needs at least a nesses, access to capital was a barrier Partnership for New York City. and increased wage-and-hour enforce- for electricity and natural gas. Con- passing familiarity with marketing to growth. By the end of the year, However, the city relies on rev- ment, will affect the labor markets. solidated Edison,which had applied on Facebook,Twitter and Pinterest, credit markets were showing signs of enue from fines,projecting $293 mil- The markets for individual and for rate increases on the distribution the fastest-growing large social- improvement. Loan approval rates lion in fine revenue not related to small business health insurance are of electricity and natural gas, agreed media platform. by big banks and alternative lenders, parking in 2014, down from $320 closely linked. The requirement for just before the year’s end to freeze Along with online marketing,es- including nonprofits, had jumped to million in 2013. Most fines actually individuals to purchase coverage rates. But long-awaited (or long- pecially mobile, events may be an- 17.6% from 14.9%, and to 67.3% lose money for the city when enforce- may create more demand by work- dreaded) federal greenhouse-gas other key trend in 2014.Mr.Stein of from 63.8%, respectively, from ment costs are included,according to ers for their small business employ- regulations may have an effect this CMIT is already planning to devote December 2012 to December 2013, a report by the Independent Budget ers to provide more and better insur- year, almost certainly driving prices about 5% of his $1 million in rev- according to the Biz2Credit Small Office, but the flow of money sup- ance, said Beth Alcalde, a West up further. enue to marketing, including work- Business Lending Index. ports thousands of city workers. Palm Beach, Fla.-based partner at “The rules regulate electricity shops for small business owners to Rohit Arora, chief executive of One regulation already scheduled law firm Akerman,which has a New producers, especially those that use help them translate tech-speak. Manhattan-based Biz2Credit, an to go into effect: In April, if a busi- York City office. coal. Rates almost have to go up,” “We’ll be helping owners bridge the online loan broker, said he expects ness has 20 or more workers, it must Many small businesses will said Dan Bosch, manager of regula- gap between what the technology is the credit markets to continue to offer at least five paid sick days. The spend hundreds of hours figuring tory policy for the National Federa- and how it applies to their business,” improve,especially when it comes to provision is likely to be expanded on out what to do in response to the tion of Independent Business. he said.“We want to give owners the small loans and lines of credit. The Oct. 15, 2015, to companies with 15 changes in the individual market The U.S. Supreme Court is tools to have conversations with big banks are still distracted by reg- or more workers. and the arrival,on Jan.1,2015,of the scheduled to issue a decision by July their IT people.” Ⅲ

14 | Crain’s New York Business | January 20, 2014 20140120-NEWS--0015-NAT-CCI-CN_-- 1/16/2014 5:13 PM Page 1

FOR THE RECORD

● Department of Environmental Protection was represented by David Latman of clinical development, sold 20,668 shares Seeks competitive sealed bids by 11:30 DLL Real Estate. The landlord, of common stock at prices ranging from ABOUT THIS SECTION a.m. on Feb. 4 for transportation and Savanna, was represented by Marc $272.88 to $277.50 on Jan. 2, in a FOR THE RECORD is a weekly listing of information from the public record that disposal services for biosolids. A prebid Frankel and Amy Zhen of Newmark transaction worth $5,678,966. He now can help businesspeople in the New York area find opportunities, potential conference will be held Jan. 23 at 10 Grubb Knight Frank. The asking rent directly holds 27,036 shares. a.m. at 9605 Horace Harding was $150 per square foot. new clients and updates on competitors. Expressway, second floor, conference ● Automatic Data Processing Inc. (ADP) To ask questions or get more information on this section, contact Crain’s room 1, Queens. Bid documents are Regina R. Lee, president of major research department at [email protected]. available for a $100 fee. To obtain bid STOCK TRANSACTIONS account services and ADP Canada, documents or to make inquiries, contact exercised options on 61,827 shares of Fabian Heras at (718) 595-4472 or Following are recent insider transactions at common stock at prices ranging from NEW IN TOWN $500,000 and estimated assets of $0 to [email protected]. New York’s largest publicly held companies $40.70 to $44.91 on Jan. 2, in a $50,000. filed with the Securities and Exchange transaction worth $2,684,470. On the Companies that would like to have details ● Department of Homeless Services Commission by executives and major same day, she sold 53,555 shares of of openings published should submit Seeks competitive sealed bids on Feb. 7 shareholders. Listings are in order of common stock at $79.77, in a descriptions following this format to cnyb- GOVERNMENT CONTRACT for the rental of emergency generators transaction value.The information was transaction worth $4,271,820. She now [email protected], with “New OPPORTUNITIES citywide. An optional prebid conference obtained from Thomson Reuters. directly holds 107,929 shares. in Town” in the subject line. will be held Jan. 24 at 10 a.m. at 10107 Following are selected contract Farragut Road, Brooklyn. To make ● Time Warner Cable (TWC) Steven Anenen, president of the dealer ● Black Crescent opportunities recently announced by New inquiries or to obtain bid documents, Glenn A. Britt, chairman and chief services group, exercised options on 76 Clinton St., Manhattan York City agencies.To learn how to sell contact Anthony Salako at executive, exercised options on 129,600 54,314 shares of common stock at prices The oyster bar opened on the Lower goods and services to city government, visit (212) 361-8445 or [email protected]. shares of common stock at prices ranging from $37.58 to $42.94 on Jan. 2, East Side. The menu consists of classic www.nyc.gov/selltonyc. For a searchable ranging from $34.24 to $72.05 on Jan. 6, in a transaction worth $2,199,335. On cocktails and small plates. database of current procurement notices, ● Fire Department in a transaction worth $8,203,380. On the same day, he sold 54,314 shares of visit www.nyc.gov/cityrecord. Seeks competitive sealed proposals by 4 the same day, he sold 129,600 shares of common stock at $79.77, in a ● Blue Olive Market p.m. on Feb. 24 for ambulance transport common stock at prices ranging from transaction worth $4,332,579. He now 210 E. 41st St., Manhattan CONSTRUCTION SERVICES invoicing, dunning and litigation $133.92 to $135.03, in a transaction directly holds 72,079 shares. The restaurant and market opened in ● Department of Design and Construction services. An optional prebid conference worth $17,373,498. He now directly midtown east. It serves and sells Greek Seeks competitive sealed bids by 2 p.m. will be held Jan. 28 at 10 a.m. at 9 holds 158,976 shares. Carlos A. Rodriguez, president and and Mediterranean food. on Feb. 4 for a business management MetroTech Center, first-floor chief executive, exercised options on system and a supplemental diffusion well auditorium, Brooklyn. To make inquiries ● Hertz Global Holdings Inc. (HTZ) 47,500 shares of common stock at ● Cucina & Tavola at Queens Botanical Garden.There will or to obtain bid documents, contact Robert J. Stuart, executive vice president $55.82 between Jan. 2 and Jan. 3, in a 235 Grand St., Brooklyn be an optional prebid conference on Jan. Kristina LeGrand at (718) 999-1231 or of sales and marketing, exercised options transaction worth $2,651,450. During The home-goods store opened in 27 at 10 a.m. at the Botanical Garden, [email protected]. on 223,999 shares of common stock at the same period, he sold 47,500 shares Williamsburg. The Italian company located at 134-20 Dahlia Ave. Bid prices ranging from $9.70 to $14.60 of common stock at prices ranging from specializes in kitchenware, and this is its documents are available at www.nyc.gov/ between Dec. 31 and Jan. 3, in a $80.01 to $80.67, in a transaction worth first U.S. location. buildnyc for a deposit of $35, payable REAL ESTATE DEALS transaction worth $2,761,211. During $3,815,879. He now directly holds only by company check or money order. the same period, he sold 223,999 shares 130,085 shares. ● Electric Nest To make inquiries, contact Melanie Companies that would like to have details of common stock at prices ranging from 60 Broadway, Brooklyn Sanchez at (718) 391-3430 or of their recent transactions appear in these $28.75 to $29.02, in a transaction worth ● CBS Corp. (CBS) The boutique opened in Williamsburg. [email protected]. listings should email descriptions following $6,489,285. He now directly holds Joseph R. Ianniello, chief operating The retail shop, the first for the company, this format to NDholakia@crains 10,025 shares. officer, sold 46,000 shares of common features the Electric Feathers brand. ● Department of Parks and Recreation newyork.com, with “Real estate stock at prices ranging from $62.99 to Seeks competitive sealed bids by 10:30 transaction” in the subject line, or enter ● Regeneron Pharmaceuticals Inc. $63.55 between Jan. 2 and Jan. 3, in a ● GQ Barbershop a.m. on Feb. 11 for the reconstruction of them online at crainsnewyork.com/ (REGN) transaction worth $2,901,484. He now 620 Atlantic Ave., Brooklyn the stairs and adjacent sidewalk between submitadeal. Deals are listed in order of Peter Powchik, senior vice president of directly holds 144,799 shares. Ⅲ The grooming shop opened in Barclays Tiemann Place and Riverside Drive in square footage. Center. The shop is a collaboration Manhattan’s Riverside Park. Bid between GQ magazine and Fellow documents are available at the Blueprint COMMERCIAL Barber in TriBeCa. Room, Room 64, Olmsted Center, ● Shawmut Design and Construction DEALS ROUNDUP Flushing Meadows Corona Park, renewed and expanded its lease to ● North River between 8 a.m. and 3 p.m. for a $25 fee, 40,000 square feet at 3 E. 54th St. The 166 First Ave., Manhattan payable only by company check or money construction management firm will take TRANSACTION SIZE The restaurant opened in the East order made out to City of New York, the entire eighth, 10th and 11th floors TARGET/SELLER (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE Village.The American comfort-food Parks and Recreation.To make inquiries, for 10 years. The tenant was represented Mandiant/ $1,050.0 FireEye Inc. SB M&A eatery serves dinner and weekend brunch. contact Juan Alban at (718) 760-6771 or by Jared Freede and David Hollander of One Equity Partners [email protected]. CBRE Group Inc. The landlord, Cohen (Manhattan), Kleiner ● Union Food Lab Brothers Realty Corp., was represented Perkins Caufield & Byers 3041 Broadway, Manhattan ● Housing Authority in-house by Marc Horowitz. The asking Shore Club South Beach, $175.3 HFZ Capital Group (Manhattan) SB M&A The nonprofit kitchen opened in Seeks competitive sealed bids by 10 a.m. rent was undisclosed. Miami Beach, Fla./ Harlem. The food incubator is available on Feb. 3 for roofing replacement, Philips South Beach for rent and offers dry and cold storage. masonry repair and related work at ● Gibney Dance signed a 20-year lease (Manhattan) Sumner Houses in Brooklyn. Bid for 36,000 square feet at 280 Broadway. Nest Labs Inc./ $150.0 Kleiner Perkins Caufield & Byers, GCI documents are available for a $25 fee, The nonprofit organization will not disclosed (Venrock (Manhattan), Lightspeed COMPANY MOVES Venture Partners, Generation payable only by check or money order integrate its new space with its existing Investment Management, Shasta Ventures, made out to New York City Housing location at 890 Broadway for a total of Google Ventures, DST Global Companies that would like to have details Authority.To obtain bid documents or 51,000 square feet. The tenant and the Fusion Telecommunications $41.4 Praesidian Capital (Manhattan), GCI of recent moves published should submit to make inquiries, contact Vaughn landlord, Fram Realty, did not have International Inc./ Plexus Capital, United Insurance descriptions following this format to cnyb- Banks at (212) 306-6727 or representation. The asking rent was not disclosed Company of America Inc., individual [email protected], with [email protected]. $23.25 per square foot. investors, Management of Fusion “Company Moves” in the subject line. Telecommunications International Inc. ● ● School Construction Authority New York University School of China Minsheng Banking $21.9 Not disclosed (0.07%) SB M&A ● Box Kite Coffee Seeks competitive sealed bids by 3 p.m. on Medicine signed a lease for 3,100 square Corp. Ltd./JPMorgan 115 St. Mark’s Place, Manhattan Feb. 25 for a three-story addition/ feet at 175 Remsen St. in Brooklyn. The Chase & Co. (Manhattan) The café opened in the East Village. renovation to an existing building at P.S. school will use the space as a medical Kapital Yonetim Hizmet Ve $21.9 UCP Holdings Inc. (Manhattan) (51%) SB M&A The shop, which serves coffee, beer and 56 in Queens. Bid documents are office. The tenant was represented by Gayrimenkul Yatirim wine, is the first storefront for the available for a $250 fee, payable to the Paul Wexler and Josef Yadgarov of the Sanayi Ticaret Ltd. Sirketi/ company, which previously had a pop-up School Construction Authority by Corcoran Group. The landlord, Treeline not disclosed at the Maslow 6 wine bar in TriBeCa. check, money order or major credit Cos., was represented in-house by Kraig NeXeption/ $21.5 Palo Alto Investors, New Science GCI card.To obtain bid documents or Silver. The asking rent was $30 per not disclosed Ventures (Manhattan), Third Point Ventures to make inquiries, contact Iris Vega at square foot. United Methodist $8.0 Nashville Hospitality Capital (Manhattan) SB M&A BANKRUPTCIES (718) 472-8292 or [email protected]. Publishing House’s one-acre RETAIL site near Music City Center, The following listings are selected from the GOODS AND SERVICES ● European Wax Center signed a lease Nashville, Tenn./United Methodist most recent available filings by companies ● Department of Education for 5,100 square feet at 295 Park Ave. Publishing House seeking bankruptcy protection in the Requests proposals by 4 p.m. on Feb. 12 South. The salon will take two floors. RedHill Biopharma Ltd./ $6.0 OrbiMed Advisors (Manhattan) GCI Southern and Eastern Districts of New for Title IIA graduate courses in The tenant was represented by Hal not disclosed York. Information was obtained from U.S. administration and supervision to enable Shapiro of Winick Realty.The landlord, Skybox Security Inc./ $6.0 Susquehanna Investment Group GCI Bankruptcy Court records available on nonpublic school principals and Abington Holding, was represented by not disclosed (Manhattan) Public Access to Court Electronic Records. prospective principals to become school- Steven Baker and Michael Gleicher of Property at 2300 Litton $4.4 Not disclosed SB M&A Listings are in alphabetical order. building leaders. A copy of the bid can Winick Realty.The asking rent was Lane, Hebron, Ky./Lexington be downloaded at https://vendorportal undisclosed. Realty Trust (Manhattan) ● Park Avenue Acoustics Inc. .nycenet.edu. To make inquiries or to get Selected deals announced for the week ended Jan. 4 involving companies in metro New York. 274 Madison Ave., Manhattan help downloading the bid, contact the ● Dig Inn Seasonal Market signed a 12- GCI: Growth capital investment represents new money invested in a company for a minority Filed for Chapter 7 bankruptcy Vendor Hotline at (718) 935-2300 or year lease for 2,100 square feet at 80 stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing shares of a company without the participation of a financial buyer. source: capitaliq protection on Jan. 6. The filing cites [email protected], or email Broad St. The restaurant will take retail estimated liabilities of $100,001 to [email protected]. space on the ground floor. The tenant

January 20, 2014 | Crain’s New York Business | 15 P016-18CL_CN_20140120.qxp 1/17/2014 12:19 PM Page 16

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of ALVAREZ & NOTICE OF FORMATION OF LIMITED Notice of Qualification of 361 Holdings Notice of Qualification of NCWPCS Notice of Qualification of JCMC 251-253 MARSAL LIQUID ASSET MANAGE- LIABILITY COMPANY. NAME: 1111 LLC. Authority filed with NY Dept. of MPL 32 - Year Sites Tower Holdings LLC. Authority filed with Secy. of State MENT SERVICES, LLC. Authority LEXINGTON TAQUERIA LLC. Articles State on 12/3/13. Office location: NY LLC. Authority filed with NY Dept. of of NY (SSNY) on 12/27/13. Office filed with Secy. of State of NY (SSNY) of Organization were filed with the County. LLC formed in DE on 10/30/13. State on 11/27/13. Office location: location: NY County. LLC formed in on 01/10/14. Office location: NY Secretary of State of New York NY Sec. of State designated agent of NY County. Princ. bus. addr.: 1025 Delaware (DE) on 12/26/13. Princ. County. LLC formed in Delaware (DE) (SSNY) on 12/08/10. Office location: LLC upon whom process against it Lenox Park Blvd. NE, Atlanta, GA office of LLC: Joseph Chetrit, c/o The on 01/02/14. Princ. office of LLC: New York County. SSNY has been may be served and shall mail process 30319. LLC formed in DE on 11/6/13. Chetrit Group LLC, 512 Seventh Ave., 600 Madison Ave., 8th Fl., NY, NY designated as agent of the LLC upon to: c/o CT Corporation System, 111 NY Sec. of State designated agent of 15th Fl., NY, NY 10018. SSNY desig- 10022. SSNY designated as agent of whom process against it may be 8th Ave., NY, NY 10011, regd. agent LLC upon whom process against it nated as agent of LLC upon whom LLC upon whom process against it served. SSNY shall mail a copy of upon whom process may be served. may be served and shall mail process process against it may be served. may be served. SSNY shall mail process to the LLC, c/o Helbraun & DE addr. of LLC: 1209 Orange St., to: c/o CT Corporation System, 111 SSNY shall mail process to the LLC process to c/o Corporation Service Levey LLP, 110 William Street, Suite Wilmington, DE 19801. Cert. of 8th Ave., NY, NY 10011, regd. agent at the addr. of its princ. office. DE Co. (CSC), 80 State St., Albany, NY 1410, New York, New York 10038. Form. filed with DE Sec. of State, upon whom process may be served. addr. of LLC: Corporation Service 12207-2543. DE addr. of LLC: c/o Purpose: For any lawful purpose. 401 Federal St., Dover, DE 19901. DE addr. of LLC: 1209 Orange St., Co., 2711 Centerville Rd., Ste. 400, CSC, 2711 Centerville Rd., Ste. 400, Purpose: all lawful purposes. Wilmington, DE 19801. Cert. of Form. Wilmington, DE 19808. Arts. of Org. Wilmington, DE 19808. Arts. of Org. Notice of formation of FASCET India filed with DE Sec. of State, 401 filed with Secy. of State of DE, Div. of filed with Secy. of State of DE, 401 LLC. Arts of Org filed with Secy of Notice of Qualification of Primary Federal St., Dover, DE 19901. Corps., John G. Townsend Bldg., Federal St., Dover, DE 19901. State of NY (SSNY) on 10/18/13. Capital Advisors LC. Authority filed Purpose: all lawful purposes. 401 Federal St. - Ste. 4, Dover, DE Purpose: Any lawful activity. Office location: NY County. SSNY with NY Dept. of State on 10/28/13. 19901. Purpose: Any lawful activity. designated agent upon whom NYS fictitious name: Primary Capital NOTICE OF FORMATION OF Notice of Formation of A2 COLLEC- process may be served and shall Mortgage LLC. Office location: NY KIESERMAN TRADING,LLC. Arts of Notice of Qualification of MAIDENFORM TIONS, LLC. Arts. of Org. filed with mail copy of process against LLC to County. LLC formed in GA on 7/19/94. Org filed with Secy of State of NY LLC. Authority filed with Secy. of Secy. of State of NY (SSNY) on principal business address: 224 W NY Sec. of State designated agent of (SSNY) on 11/13/13. Office location: State of NY (SSNY) on 12/17/13. 06/24/13. Office location: NY County. 30th St, Ste 203, NY, NY 10001. LLC upon whom process against it NY County. SSNY designated agent Office location: NY County. LLC SSNY designated as agent of LLC Purpose: any lawful act. may be served and shall mail process upon whom process may be served formed in Delaware (DE) on 11/20/13. upon whom process against it may be to the GA and principal business and shall mail copy of process against SSNY designated as agent of LLC served. SSNY shall mail process to NASHBAN MANSUR LLC, a domestic address: 1000 Parkwood Circle, Ste. LLC to principal business address: upon whom process against it may be Corporation Service Co., 80 State St., LLC, Arts. of Org. filed with the SSNY 600, Atlanta, GA 30339. Cert. of Org. 152 E 94th ST apt 3A, NY, NY served. SSNY shall mail process to Albany, NY 12207, regd. agent upon on 12/4/13. Office location: New York. filed with GA Sec. of State, 315 West 10128-2550. Purpose: any lawful act. Corporation Service Co., 80 State St., whom and at which process may be SSNY is designated as agent upon Tower, 2 MLK, Jr. Dr., Atlanta, GA Albany, NY 12207-2543. DE addr. of served. Purpose: Any lawful activity. whom process against the LLC may 30334. Purpose: all lawful purposes. FRUITION MARKETING CONSULTING, LLC: 2711 Centerville Rd., Ste. 400, be served. SSNY shall mail process to: LLC, a domestic LLC, currently Wilmington, DE 19808. Arts. of Org. Notice of Formation of NLB 2013 LLC. David Mansur, 402 W. 45th St., #5C, Name of LLC: Plaza Retail Properties known as YORKVILLE MARKETING filed with DE Secy. of State, 401 Arts. of Org. filed with Secy. of State NY, NY 10036. Purpose: Fundraising. NY LLC. Arts. of Org. filed with NY CONSULTING LLC, filed with the Federal St., Ste. 4, Dover, DE 19901. of NY (SSNY) on 12/31/13. Office Dept. of State: 1/7/14. Office loc.: NY SSNY on 10/29/13. Office location: Purpose: Any lawful activity. location: NY County. Princ. office of Notice of Formation of Transatlantique Co. Sec. of State designated agent of New York County. SSNY is designated LLC: 325 North End Ave., Apt. 14F, Private Wealth LLC. Arts. of Org. filed LLC upon whom process against it as agent upon whom process NOTICE OF FORMATION OF NY, NY 10282. SSNY designated as with Secy. of State of NY (SSNY) on may be served and shall mail process against the LLC may be served. Pomeroy Law Group PLLC. Arts of agent of LLC upon whom process 12/18/13. Office location: NY County. to: Business Filings Inc., 187 Wolf SSNY shall mail process to The LLC, Org filed with Secy of State of NY against it may be served. SSNY SSNY designated as agent of LLC Rd., Ste. 101, Albany, NY 12205, 425 E. 79th St., Apt. 11M, NY, NY (SSNY) on 12/9/13. Office location: shall mail process to the LLC at the upon whom process against it may be regd. agt. upon whom process may 10075. General Purpose. NY County. SSNY designated agent addr. of its princ. office. Purpose: served. SSNY shall mail process to: be served. Purpose: any lawful act. upon whom process may be served Any lawful activity. The LLC, 520 Madison Ave., NY, NY Notice of Qual. of 117 Adams Owner and shall mail copy of process 10022. Purpose: any lawful activities. Notice of Qual. of 175 Pearl Owner LLC, Auth. filed Sec’y of State (SSNY) against LLC to principal business NOTICE OF FORMATION OF LLC, Auth. filed Sec’y of State (SSNY) 9/12/13. Office loc.: NY County. LLC address: 230 Central Park W NY, NY Siskopoulos Law Firm, LLP. Arts of DUMBO URP HOLDING, LLC, a 9/12/13. Office loc.: NY County. LLC org. in DE 8/20/13. SSNY desig. as 10024. Purpose: any lawful act. Org filed with Secy of State of NY domestic LLC, filed with the SSNY org. in DE 8/20/13. SSNY desig. as agent of LLC upon whom process (SSNY) on 10/15/13. Office location: on 11/14/13. Office location: New York agent of LLC upon whom process against it may be served. SSNY shall Notice of Formation of 246 HOSPITALITY NY County. SSNY designated agent County. SSNY is designated as against it may be served. SSNY shall mail copy of proc. to 1166 Ave of the GROUP LLC. Arts. of Org. filed with upon whom process may be served agent upon whom process against mail copy of proc. to 1166 Ave of the Americas, 27th Fl., NY, NY 10036. DE Secy. of State of NY (SSNY) on and shall mail copy of process the LLC may be served. SSNY shall Americas, 27th Fl., NY, NY 10036. DE off. addr.: 160 Greentree Dr., Ste. 101, 12/23/13. Office location: NY County. against LLP to principal business mail process to The LLC, 22 off. addr.: 160 Greentree Dr., Ste. 101, Dover, DE 19904. Cert. of Form. on Princ. office of LLC: 248 W. 14th St., address: 33 West 19th St, 4th Flr, NY, Cortlandt St., 16th Fl., NY, NY 10007. Dover, DE 19904. Cert. of Form. on file: SSDE, Townsend Bldg., Dover, DE NY, NY 10011. SSNY designated as NY 10011. Purpose: any lawful act. General Purpose. file: SSDE, Townsend Bldg., Dover, DE 19901. Purp.: any lawful activities. agent of LLC upon whom process 19901. Purp.: any lawful activities. against it may be served. SSNY shall Notice of Formation of Gherardi USA NYC Gratitude, LLC Arts of Org filed Notice of Formation of SDF62 mail process to the LLC, 3281 LLC. Arts. of Org. filed with Secy. of with NY Sec of State (SSNY) on Notice of Formation of S.M.R.D. Jamaica Avenue LLC. Arts. of Org. Richmond Ave., Staten Island, NY State of NY (SSNY) on 12/02/13. 11/22/11. Office: New York County. Estate Planning Law Group, P.L.L.C. filed with NY Dept. of State on 10312. As amended by Cert. of Office location: NY County. SSNY SSNY designated as agent of LLC Arts. of Org. filed with NY Dept. of 10/31/13. Office location: NY Amendment filed with SSNY on designated as agent of LLC upon upon whom process may be served. State on 10/25/13. Office location: NY County. Princ. bus. addr.: 825 3rd 01/07/14, name changed to 248 whom process against it may be SSNY shall mail process to: 1710 1st County. Secy. Of State designated Ave., Fl 37, NY, NY 10022. Sec. of HOSPITALITY GROUP LLC. served. SSNY shall mail process to: Ave, #121, NY, NY 10128-4902. as agent of LLC upon whom process State designated agent of LLC upon Purpose: Any lawful activity. Barton Nachamie, Esq., Nachamie General Purposes. against it may be served. Secy. Of whom process against it may be Spizz Cohen & Serchuk, P.C., 425 State shall mail process to: c/o served and shall mail process to: c/o Notice of Formation of 315 Wyckoff Park Ave., NY, NY 10022. Purpose: 70 West 36th Street LLC. Arts. of Sandra M. Rodriguez-Diaz, 375 CT Corporation System, 111 8th Holding LLC. Arts. of Org. filed with any lawful activities. Org. filed with NY Secy. of State South End Ave., Apt. 5A, NY, NY Ave., NY, NY 10011, regd. agent Secy. of State of NY (SSNY) on (SSNY) on 01/09/14. Off. loc.: NY 10280, registered agent upon whom upon whom process may be served. 12/23/13. Office location: NY County. Notice of Qualification of Pacific Sales Co. SSNY des. as agent of LLC upon process may be served. Purpose: Purpose: any lawful activity. SSNY designated as agent of LLC Kitchen and Bath Centers, LLC. whom process may be served. SSNY any lawful activity. upon whom process against it may Authority filed with NY Dept. of State shall mail process to c/o McLaren NOTICE OF FORMATION of White be served. SSNY shall mail process on 12/31/13. Office location: NY Engineering Group, Attn: Malcolm PAULSON ADVANTAGE II L.P. Square Art Collection, LLC. Articles to: c/o Margate Atlantic, 250 Passaic County. LLC formed in CA on 10/5/12. McLaren, 100 Snake Hill Rd, West Authority filed with Secy. of State of NY of Organization filed with the Street, Newark, NJ 07104. Purpose: NY Sec. of State designated agent of Nyack, NY 10994. Purpose: General. (SSNY) on 10/22/13. Office location: Secretary of State of NY (SSNY) on any lawful purpose. LLC upon whom process against it NY Co. LP formed in Delaware (DE) 11/26/13. Office location: NY County. may be served and shall mail process BOGOBURR ENTERPRISES LLC, on 9/23/13. SSNY designated as SSNY has been designated as agent NOTICE OF FORMATION OF LIMITED to: c/o CT Corporation System, 111 Arts. of Org. filed with the SSNY on agent of LP upon whom process upon whom process against it may LIABILITY COMPANY. NAME: 11 8th Ave., NY, NY 10011, regd. agent 01/06/2014. Office loc: NY County. against it may be served. SSNY shall be served. The Post Office address CARMINE TACOS LLC. Articles of upon whom process may be served. SSNY has been designated as agent mail process to The LP, 1251 Ave. of to which the SSNY shall mail a copy Organization were filed with the Principal office address: 7601 Penn upon whom process against the LLC the Americas, New York, NY 10020. of any process against the LLC Secretary of State of New York Ave. S., Richfield, MN 55423. Cert. may be served. SSNY shall mail DE address of LP: 1209 Orange St., served upon him is CT Corporation (SSNY) on 09/23/10. Office location: of Org. filed with CA Sec. of State process to: Maggie Gonzalez, 10 E. Wilmington, DE 19801. Arts. Of Org. System, 111 8th Avenue, New York, New York County. SSNY has been 1500 11th St., Sacramento, CA 40th St., Suite 3203, NY, NY 10016. filed with DE Secy. of State, PO Box NY 10011. Purpose of LLC: to designated as agent of the LLC upon 95814. Purpose: all lawful purposes. Purpose: Any Lawful Purpose. 898, Dover, DE 19903. Purpose: any engage in any lawful act or activity. whom process against it may be lawful activity. served. SSNY shall mail a copy of Notice of Qualification of JCMC 245-247 NOTICE OF FORMATION of City Of Notice of Qualification of TMG ASSET process to the LLC, 11 Carmine LLC. Authority filed with Secy. of State New York Early Stage Life Sciences Notice of Qualification of 155 West MANAGEMENT LLC. Authority filed Street, New York, New York 10014. of NY (SSNY) on 12/27/13. Office Fund LLC. Articles of Organization 23rd Street Holder LLC. Authority with Secy. of State of NY (SSNY) on Purpose: For any lawful purpose. location: NY County. LLC formed in were filed with the Secretary of State filed with NY Dept. of State on 11/19/13. Office location: NY County. Delaware (DE) on 12/03/13. Princ. of New York (SSNY) on 12/20/13. 12/11/13. Office location: NY County. LLC formed in Delaware (DE) on NOTICE OF FORMATION OF office of LLC: Joseph Chetrit, c/o The Office location: New York County. Princ. bus. addr.: 805 3rd Ave., 7th 11/14/13. Princ. office of LLC: 666 PROFESSIONAL SERVICE LIMITED Chetrit Group LLC, 512 Seventh Ave., SSNY has been designated as the Fl., NY, NY 10022. LLC formed in Fifth Ave., 8th Fl., NY, NY 10103. LIABILITY COMPANY. NAME: 15th Fl., NY, NY 10018. SSNY desig- agent of the LLC upon whom process DE on 7/11/13. NY Sec. of State SSNY designated as agent of LLC KOSSOFF, PLLC. Articles of nated as agent of LLC upon whom against it may be served. SSNY designated agent of LLC upon whom upon whom process against it may Organization were filed with the process against it may be served. shall mail service of process (SOP) to process against it may be served be served. SSNY shall mail process Secretary of State of New York (SSNY) SSNY shall mail process to the LLC principal business address: c/o New and shall mail process to: c/o CT to c/o Corporation Service Co. on 12/06/13. Office location: New York at the addr. of its princ. office. DE York City Economic Development Corporation System, 111 8th Ave., (CSC), 80 State St., Albany, NY County. SSNY has been designated addr. of LLC: Corporation Service Corporation, 110 William Street, New NY, NY 10011, regd. agent upon 12207-2543. DE addr. of LLC: c/o as agent of the PLLC upon whom Co., 2711 Centerville Rd., Ste. 400, York, New York 10038. New York whom process may be served. DE CSC, 2711 Centerville Rd., Ste. 400, process against it may be served. Wilmington, DE 19808. Arts. of Org. City Economic Development addr. of LLC: 1209 Orange St., Wilmington, DE 19808. Arts. of Org. SSNY shall mail a copy of process filed with Secy. of State of DE, Div. of Corporation is designated as agent Wilmington, DE 19801. Cert. of filed with DE Secy. of State - Div. of to the PLLC, c/o Mitchell Kossoff, Corps., John G. Townsend Bldg., for SOP at 110 William Street, New Form. filed with DE Sec. of State, Corps., John G. Townsend Bldg., 217 Broadway, Suite 401, New York, 401 Federal St. - Ste. 4, Dover, DE York, New York 10038. Purpose: any 401 Federal St., Dover, DE 19901. 401 Federal St. - Ste. 4, Dover, DE New York 10007. Purpose: For the 19901. Purpose: Any lawful activity. lawful purpose. Purpose: all lawful purposes. 19901. Purpose: Any lawful activity. practice of the profession of Law.

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TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of GALVANIZED Notice of Qualification of COOP & Notice of Application for Authority of Notice of Qualification of TRAVELERS Notice of Qualification of 1-6 Sears BOOKS, LLC. Authority filed with SPREE RETAIL LLC. Authority filed INNO KNITS LLC filed with the Secy. REAL ESTATE, LLC. Authority filed Elmsford LLC. Authority filed with NY Secy. of State of NY (SSNY) on with Secy. of State of NY (SSNY) on of State of NY (SSNY) on 11/19/13. with Secy. of State of NY (SSNY) on Dept. of State on 12/12/13. Office 11/26/13. Office location: NY County. 12/18/13. Office location: NY County. The LLC was formed in NC on 9/18/07. 12/10/13. Office location: NY County. location: NY County. Princ. bus. LLC formed in Delaware (DE) on LLC formed in Delaware (DE) on Office loc.: New York County. SSNY LLC formed in Delaware (DE) on addr.: 825 3rd Ave., Fl 37, NY, NY 3/21/13. Princ. office of LLC: 744 12/17/13. SSNY designated as agent is designated as agent of LLC upon 12/04/13. NYS fictitious name: 10022. LLC formed in DE on Greenwich St., Apt, 4, NY, NY 10014. of LLC upon whom process against whom process against it may be TRAVELERS BROKER SERVICES, 1/31/08. NY Sec. of State designated SSNY designated as agent of LLC it may be served. SSNY shall mail served. The address SSNY shall mail LLC. SSNY designated as agent of agent of LLC upon whom process upon whom process against it may be process to c/o Corporation Service copy of process to is 530 Seventh LLC upon whom process against it against it may be served and shall served. SSNY shall mail process to Co. (CSC), 80 State St., Albany, NY Ave., Ste. 2802, New York, NY 10018. may be served. SSNY shall mail mail process to: c/o CT Corporation the LLC at the princ. office of the LLC. 12207-2543. DE addr. of LLC: CSC, The office address required to be process to Corporation Service Co., System, 111 8th Ave., NY, NY 10011, DE addr. of LLC: 2711 Centerville Rd., 2711 Centerville Rd., Ste. 400, maintained in NC is 3221 Avent Ferry 80 State St., Albany, NY 12207-2543. regd. agent upon whom process may Ste. 400, Wilmington, DE 19808. Arts. Wilmington, DE 19808. Arts. of Org. Rd., Raleigh, NC 27606. Cert. of DE addr. of LLC: 2711 Centerville be served. DE addr. of LLC: 1209 of Org. filed with DE Secy. of State, filed with Secy. of State of DE, 401 formation filed with Elaine F. Marshall, Rd., Ste. 400, Wilmington, DE 19808. Orange St., Wilmington, DE 19801. 401 Federal St., Ste. 4, Dover, DE Federal St., Ste. 4, Dover, DE 19901. Sec. of State, 2 S. Salisbury St., Old Arts. of Org. filed with Secy. of State, Cert. of Form. filed with DE Sec. of 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. Revenue Bldg. Complex, Raleigh, NC 401 Federal St., Dover, DE 19901. State, 401 Federal St., Dover, DE 27601. Purpose: Any lawful activity. Purpose: Any lawful activity. 19901. Purpose: all lawful purposes. HJ REALTY M18 LLC, Arts of Org Notice of Qual. of 902-908 Bedford filed with SSNY on 12/09/13. Off. LLC, Auth. filed Sec’y of State (SSNY) NOTICE OF QUALIFICATION of A.C. Notice of Formation of Just Drew, LLC. Notice of Formation of MISS NYC LLC. Loc.: New York County, SSNY desig- 9/17/13. Office loc.: NY County. LLC CONSTRUCTION AND RACING LLC. Arts. of Org. filed with Secy. of State Arts. of Org. filed with Secy. of State nated as agent of LLC upon whom org. in DE 5/21/13. SSNY desig. as Authority filed with Secy of State of NY of NY (SSNY) on 12/11/13. Office of NY (SSNY) on 7/17/13. Office process against it may be served. agent of LLC upon whom process (SSNY) on 11/20/13. Office location: location: NY County. SSNY designated location: NY County. SSNY designated SSNY shall mail a copy of process against it may be served. SSNY shall NY County. LLC formed in NJ on as agent of LLC upon whom process as agent of LLC upon whom process to: The LLC, 136-20 38th Ave., Ste. mail copy of proc. to NRAI, 111 12/11/00. SSNY designated agent against it may be served. SSNY shall against it may be served. SSNY shall 7J, Flushing, NY 11354. Purpose: to Eighth Ave., NY, NY 10011, the Reg. upon whom process may be served mail process to: Michael L. Warren, mail process to: Giorgia Tordini, 615 engage in any lawful act. Agt. upon whom proc. may be served. and shall mail copy of process against 115 Central Park West, New York, NY Hudson Street, Suite 1, New York, NY DE off. addr.: 160 Greentree Dr., Ste. LLC to principal business address: 10023. Purpose: any lawful activity. 10014. Purpose: any lawful activity. JASMN STAR LLC, a foreign LLC, 101, Dover, DE 19904. Cert. of Form. 10 WHITE OAK RD, ROSELAND, NJ filed with the SSNY on 11/19/13. on file: SSDE, Townsend Bldg., Dover, 07068. Cert. of LLC filed with Secy of Notice of Formation of S&J Tang 216 Notice of Formation of EMIL/NAVY Office location: New York County. DE 19901. Purp.: any lawful activities. State of NJ: PO BOX 002, Trenton, NJ Duffield LLC. Arts. of Org. filed with YARD LLC. Arts. of Org. filed with SSNY is designated as agent upon 08625-0002. Purpose: any lawful act. Secy. of State of NY (SSNY) on Secy. of State of NY (SSNY) on whom process against the LLC may Notice of Formation of BERLEY & 10/10/13. Office location: NY County. 12/16/13. Office location: NY County. be served. SSNY shall mail process CO., LLC. Arts. of Org. filed with Secy. Notice of Qual. of 1231 Third Funding SSNY designated as agent of LLC upon SSNY designated as agent of LLC to: Cohen & Frankel LLP, 11 E. 44th of State of NY (SSNY) on 12/05/13. LLC, Auth. filed Sec’y of State (SSNY) whom process against it may be served. upon whom process against it may St., Ste. 1800, NY, NY 10017. Office location: NY County. Princ. 10/11/13. Office loc.: NY County. LLC SSNY shall mail process to: 202 be served. SSNY shall mail process General Purposes. office of LLC: c/o David I. Berley and org. in DE 9/27/13. SSNY desig. as Centre Street, 6th Fl., New York, NY to: 24 W. 57th St., Ste. 504, New Marc Berley, 419 Park Ave. South, 15th agent of LLC upon whom process 10013. Purpose: any lawful activity. York, NY 10019, Attn: David Emil. 666 COURTLANDT AVE. LLC, a Fl., NY, NY 10016. SSNY designated against it may be served. SSNY shall Purpose: any lawful activity. domestic LLC, filed with the SSNY on as agent of LLC upon whom process mail copy of proc. to NRAI, 111 Notice of formation of Limited 12/10/13. Office location: New York against it may be served. SSNY shall Eighth Ave., NY, NY 10011, the Reg. Liability Company. Name: NATURE’S J. STREICHER ADVISORY LLC, a County. SSNY is designated as agent mail process to Kudman Trachten Aloe Agt. upon whom proc. may be served. DARLINGS, LLC (“LLC”). Articles of foreign LLC, filed with the SSNY on upon whom process against the LLC LLP, 350 Fifth Ave., Ste. 4400, NY, NY DE off. addr.: 160 Greentree Dr., Ste. Organization filed with the Secretary 11/12/13. Office location: New York may be served. SSNY shall mail process 10118. Purpose: Any lawful activity. 101, Dover, DE 19904. Cert. of Form. of State of the State of New York County. SSNY is designated as to Mandell Mandell LLP, 3000 Marcus on file: SSDE, Townsend Bldg., Dover, (“SSNY”) on 9/30/2013. NY office agent upon whom process against Ave., Ste. 2E7, Lake Success, NY BROTHERS GRIN LLC, Arts. of Org. DE 19901. Purp.: any lawful activities. location is New York County. The the LLC may be served. SSNY shall 11042. General Purpose. filed with the SSNY on 12/13/2013. SSNY has been designated as agent mail process to: The LLC, 1 Office location: NY County. SSNY has Notice of Formation of 445 of the LLC upon whom process Exchange Plz., Ste. 312, NY, NY Notice of Formation of RL PAYMASTER been designated as agent upon whom LAFAYETTE 6A LLC. Arts. of Org. against it may be served. The SSNY 10006. General Purposes. LLC. Arts. of Org. filed with Secy. of process against the LLC may be filed with Secy. of State of NY shall mail a copy of any process to State of NY (SSNY) on 11/26/13. served. SSNY shall mail process to: (SSNY) on 12/11/13. Office location: the LLC at 32 Gramercy Park South, NOTICE OF FORMATION OF RAMSEY Office location: NY County. SSNY 51 Mountain Ave., Hawthorne, NJ NY County. Princ. office of LLC: c/o #3C, New York, NY, 10003. SOLUTIONS LLC. Arts of Org filed designated as agent of LLC upon whom 07506. Purpose: Any Lawful Purpose. Gerald T. Renza, CPA, Attn: Gerald T. Purpose/character of LLC is to with Secy of State of NY (SSNY) on process against it may be served. Renza, 200 Midway Rd., #8510, engage in any lawful act or activity. 11/21/13. Office location: NY County SSNY shall mail process to: The GLOBAL PMC CAPITAL LLC, a Cranston, RI 02920-0510. SSNY SSNY designated agent upon whom LLC, 247 W. 37th St., New York, NY domestic LLC, filed with the SSNY on designated as agent of LLC upon Notice of Formation of 888 Old process may be served and shall mail 10018. Purpose: any lawful purpose. 10/31/13. Office location: New York whom process against it may be Country Road, LLC. Arts. of Org. copy of process against LLC to: 1056 County. SSNY is designated as agent served. SSNY shall mail process to filed with Secy. of State of NY (SSNY) Neilson St Apt 1D Far Rockaway, NY Notice of Qualification of 280 Meeker upon whom process against the LLC the LLC at the addr. of its princ. on 11/27/13. Office location: NY 11691. Principal business address: LLC. Authority filed with NY Dept. of may be served. SSNY shall mail process office. Purpose: Any lawful activity. County. SSNY designated as agent 228 Park Ave S #29075 NY, NY State on 10/7/13. Office location: NY to The LLC, 450 W. 17th St., Ste. PH3, of LLC upon whom process against 10003-1502. Purpose: any lawful act. County. LLC formed in DE on 9/13/13. NY, NY 10011. General Purpose. NOTICE OF FORMATION OF it may be served. SSNY shall mail NY Sec. of State designated agent Rivington F & B, LLC. Arts of Org process to: The LLC, 358 Saw Mill NOTICE OF FORMATION OF ASTON of LLC upon whom process against Notice of Formation of ELLINGTON 18 filed with Secy of State of NY (SSNY) River Rd., Millwood, NY 10546. CAPITAL MANAGEMENT, LLC. it may be served and shall mail LLC. Arts. of Org. filed with Secy. of on 9/30/13. Office location: NY County. Purpose: any lawful activities. ARTICLES OF ORG filed with Secy of process to: c/o Synapse Capital State of NY (SSNY) on 12/13/13. SSNY designated as agent upon State of NY (SSNY) on 11/01/2013. Advisors, 138 W. 25th St., 11th Fl., Office location: NY County. SSNY whom process may be served and NOTICE OF FORMATION OF Andthem, Office location: NY County. SSNY has NY, NY 10001, principal business designated as agent of LLC upon shall mail copy of process against LLC. Arts of Org filed with Secy of been designated as agent upon whom address. DE address of LLC: 1209 whom process against it may be LLC to: 155 Rivington Street, New State of NY (SSNY) on 10/28/13. process may be served and shall mail Orange St., Wilmington, DE 19801. served. SSNY shall mail process to York, NY 10002. Principal business Office location: NY County. SSNY a copy of any process against LLC Cert. of Form. filed with DE Sec. of c/o Rosenberg & Estis, P.C., 733 address: 155 Rivington Street, NY, designated agent upon whom to principal business address: 15 State, 401 Federal St., Dover, DE Third Ave., NY, NY 10017. Purpose: NY 10002. Purpose: any lawful act. process may be served and shall Broad Street, #2210, New York, NY 19901. Purpose: all lawful purposes. Any lawful activity. mail copy of process against LLC to 10005. Purpose: any lawful or act. MATTER STRATEGIC ADVISORS, LLC. principal business address: 315 E. Notice of Qualification of ML 29 Notice of Qualification of DUNBARRE Arts of Org filed with Secy of State of 86th St, #7PE, NY, NY 10028. Notice of Formation of Tic Toc Tower SICKLES STREET, LLC. Authority INSURANCE AGENCY, LLC. Authority NY (SSNY) on 10/29/13. Office location: Purpose: any lawful act. LLC. Arts. of Org. filed with NY Dept. filed with Secy. of State of NY (SSNY) filed with Secy. of State of NY (SSNY) NY County. SSNY designated agent of State on 12/13/13. Office location: on 12/13/13. Office location: NY on 11/07/13. Office location: NY upon whom process may be served NOTICE OF FORMATION OF Razor NY County. Sec. of State designated County. LLC formed in Delaware (DE) County. LLC formed in Delaware (DE) and shall mail copy of process Capital LLC. Arts of Org filed with Secy agent of LLC upon whom process on 12/05/13. Princ. office of LLC: c/o on 08/22/13. Princ. office of LLC: 919 against LLC to principal business of State of NY (SSNY) on 3/24/09. against it may be served and shall A & E Real Estate Holdings, LLC, 1065 N. Market St., Ste. 725, Wilmington, address: Matthew Russotti, 420 Office location: NY County. SSNY mail process to: c/o Andrew W. Ave. of the Americas, NY, NY 10018. DE 19801. SSNY designated as Lexington Ave, Suite 2750, NY, NY designated agent upon whom process Heymann, Solomon Blum Heymann SSNY designated as agent of LLC agent of LLC upon whom process 10170. Purpose: any lawful activity. may be served and shall mail copy of LLP, 40 Wall St., 35th Fl., NY, NY upon whom process against it may against it may be served. SSNY shall process against LLC to: CT 10005, principal business address. be served. SSNY shall mail process mail process to Corporation Service Notice of Formation of Limited Corporation System, 111 Eighth Ave, NY, Purpose: all lawful purposes. to Douglas F. Eisenberg at the princ. Co., 80 State St., Albany, NY 12207, Partnership (LP) Name: COMMODORE NY 10011. Purpose: any lawful act. office of the LLC. DE addr. of LLC: regd. agent upon whom and at REALTY ASSOCIATES L.P. Certificate Notice of Qualification of NCWPCS Corporation Service Co., 2711 which process may be served. DE of Limited Partnership filed by the Notice of Qualification of ARC MPL 33 - Year Sites Tower Holdings Centerville Rd., Ste. 400, Wilmington, addr. of LLC: 2711 Centerville Rd., Department of State of New York on: CAFEHLD001, LLC. Authority filed LLC. Authority filed with NY Dept. of DE 19808. Arts. of Org. filed with Ste. 400, Wilmington, DE 19808. 12/04/2013. Office location: County with Secy. of State of NY (SSNY) on State on 11/27/13. Office location: Secy. of State, Div. of Corps., John Arts. of Org. filed with DE Secy. of of New York. Purpose: any and all 12/05/13. Office location: NY County. NY County. Princ. bus. addr.: 1025 G. Townsend Bldg., 401 Federal St., State, 401 Federal St., Dover, DE lawful activities. The names and LLC formed in Delaware (DE) on Lenox Park Blvd. NE, Atlanta, GA Ste. 4, Dover, DE 19901. Purpose: 19801. Purpose: Insurance agency business or residence street address 06/06/13. Princ. office of LLC: 106 30319. LLC formed in DE on Any lawful activity. and insurance marketing services. of each general partner is available York Rd., Jenkintown, PA 19046. 11/6/13. NY Sec. of State designated from the Secretary of State of New York SSNY designated as agent of LLC agent of LLC upon whom process (SSNY). The latest date upon which upon whom process against it may against it may be served and shall Do You Want To Get Your Company In Front Of New York the limited partnership is to dissolve be served. SSNY shall mail process mail process to: c/o CT Corporation is: 12/31/2061. Secretary of State of to c/o CSC, 80 State St., Albany, NY System, 111 8th Ave., NY, NY 10011, City’s Influential Business Professionals? New York (SSNY) designated as 12207. DE addr. of LLC: 2711 regd. agent upon whom process may agent of LLC upon whom process Centerville Rd., Ste. 400, Wilmington, be served. DE addr. of LLC: 1209 against it may be served. SSNY shall DE 19808. Arts. of Org. filed with DE Orange St., Wilmington, DE 19801. Contact Joanne Barbieri at 212-210-0189 for mail a copy of process to: c/o The Secy. of State, Div. of Corps., 401 Cert. of Form. filed with DE Sec. of classified advertising opportunities. Argo Corporation, 50 West 17th Federal St., Ste. 4, Dover, DE 19901. State, 401 Federal St., Dover, DE Street, New York, NY 10001. Purpose: Any lawful activity. 19901. Purpose: all lawful purposes.

January 20, 2014 | Crain’s New York Business | 17 20140120-NEWS--0018-NAT-CCI-CN_-- 1/17/2014 6:53 PM Page 1

PORT Breaking PROFITS, up Port LOSSES The Port Authority operates much of the region’s key transportation infrastructure. Authority But some of these hubs chew up a lot more cash than Continued from Page 1 they generate. The numbers below show how some key also be insane.” Dismantling the agency is not a parts of the agency fared new idea. The idea was first between 2007 and 2011. broached in the 1940s and most re- buck ennis cently in 1996, when Mayor TOTAL AVIATION: getty images Rudolph Giuliani unveiled a plan to +$2.5 BILLION merge PATH into the Metropolitan JFK +$990 million Transportation Authority, sell the World Trade Center, fold the Port LaGuardia +$273 million Authority police into the city’s Po- Newark +$1.3 billion lice Department and create a new agency called the New York Airport Teterboro, Authority that would have been in Stewart, charge of rebuilding the city’s air- heliports -$65 million ports. Mr. Giuliani, who didn’t return a call seeking comment, argued at the TOTAL BRIDGE AND time that the Port Authority was TUNNEL: riddled with inefficiencies and mis- -$537 MILLION* management. The idea went GW Bridge +$1.3 billion nowhere. The agency endures for a simple Lincoln Tunnel +$167 million getty images reason:The economics of a breakup Holland Tunnel +$141 million bloomberg news don’t work. Many of the authority’s Port Authority operations lose substantial sums and Bus Terminal -$479 million couldn’t survive without hefty sub- sidies from other parts of the organ- PATH -$2.3 billion ization. PATH, for instance, devoured $2.3 billion in cash between 2007 TOTAL PORT and 2011. The harbor ports and COMMERCE: midtown bus terminal chewed up -$755 MILLION* $755 million and $537 million, re- Port Newark -$317 million spectively, during the same period. Port Jersey -$184 million Rebuilding the World Trade Center has cost the agency about $8 billion Howland Hook -$160 million in the past decade. Brooklyn Marine Cash cows Terminal -$27 million Yet even amid these gushers of bloomberg news red ink, the Port Authority in 2012 getty images TOTAL WORLD TRADE managed to generate $1.1 billion in CENTER: net income on $4 billion in revenue. -$3.1 BILLION That gain was all thanks to the huge toll and fee revenue coming from the region’s three major airports and GRAND TOTAL: the George Washington Bridge. -$2.5 BILLION Those four hubs generated about $5 billion in operating cash between The total shows the authority 2007 and 2011. doesn’t generate enough “One of the most powerful from tolls, fees and grants to things about the Port is how it cover its costs. It borrows to moves revenues from one place to cover the shortfall. another,” Mr. Berger said. The Port Authority’s diverse rev- enue streams also mean it can bor- *Total includes other entities not listed here. row more cheaply than the airports Source: Phase II report to the special committee of Port Authority’s board,

or bridges could on their own.That’s world photos wide

prepared by consulting firm Navigant in / ap an important consideration because getty images September 2012 the agency has $20 billion in debt obligations and is expected to bor- row another $8 billion over the next “Sophisticated” might not be the bles on the George Washington deputy share the same box on the elected in 2010. In the past, gover- four years to pay for such projects as word preferred by most people to Bridge. authority’s organizational chart, nors have appointed no more than completing the World Trade Cen- describe the management team be- and the deputy can’t be fired by the five supporters to Port Authority ter, building a new central terminal hind the Fort Lee traffic jam engi- Political interference executive director. jobs. at LaGuardia Airport and raising neered by aides of Mr. Christie, but Mr. Doig said many of the Port At the time, the move was ap- “The first thing you change with the Bayonne Bridge so larger ships interference from elected leaders Authority’s current problems stem plauded as a sensible division of the Port is eliminate those patron- going to and coming from the Pana- and their lackeys isn’t new at the from an agreement made in 1995, power, but “that’s when you started age appointees and put in people ma Canal can dock here. agency. when Gov. George Pataki appoint- seeing the management problems who are strong and independent,” “The Port is different from just Jameson Doig, a professor of ed an investment banker with no ex- that are blindingly obvious today,” Mr. Doig said. “And get rid of that about any city or state in that they can government at Dartmouth College, perience in transportation to the ex- said Mr. Doig, author of a book deputy executive director job.” go to the market and raise whatever dates the first example to 1927, six ecutive director job. After New about the agency called Empire on At least for now, that job is capital they need whenever they years after the Port Authority’s cre- Jersey Gov. Christine Todd the Hudson. vacant. Bill Baroni, one of the mas- want,”said Matt Fabian,a managing ation. That’s when the governor of Whitman objected, the leaders He added that Port Authority terminds behind the Fort Lee traf- director at independent debt-re- New Jersey demanded—and won— compromised by creating a new management suffered further when fic jam, resigned last month. Ⅲ search firm Municipal Market Advi- the right to veto agency decisions deputy executive director position Mr. Christie rewarded up to 60 po- LISTEN to a discussion at sors.“The management team is seen because he wanted to help a compa- to be filled by the New Jersey side. litical backers with jobs for them or CrainsNewYork.com/podcasts by investors as very sophisticated.” ny get a contract installing wire ca- The executive director and the their family members after he was

18 | Crain’s New York Business | January 20, 2014 20140120-NEWS--0019-NAT-CCI-CN_-- 1/17/2014 6:51 PM Page 1

Because many small businesses, such as restaurants, pay workers by Sick leave blindsides the hour, having an employee out Albany action sought sick often means paying twice for Continued from Page 1 In Manhattan alone, the expan- busy shifts, like the lunchtime rush. Continued from Page 6 this month called for accelerating a While large firms have had a year sion will hit more than 28,000 addi- “It’s a huge burden for the restau- what it says are the onerous paper- pending phase-in of minimum-wage to comply with the changes, small tional businesses that have between rant industry,”said Andrew Schnip- work requirements of the Wage increases, it is unclear whether he businesses will have only until April five and 20 employees, according to per, co-founder of Schnipper’s Theft Prevention Act. Business would yield power over wages to lo- 1 to ready themselves for the ex- census data compiled by real estate Quality Kitchen, a local chain groups seek as well to amend some calities. His office did not respond to panded version of the law, whose firm Studley Inc. known for its burgers and milk- workplace protections in Mr. a request for comment. passage by the City Council is now The de Blasio administration shakes. “I have to spend the money Cuomo’s “women’s agenda”— Another priority for the Working a mere formality. The proposed re- said the law will cover an additional for that shift whether that employ- which was shelved last year only be- Families Party is legislation to pub- vision, to lower the threshold to 355,000 New Yorkers, 200,000 of ee is there or not.” He feared that cause of a controversial plank on licly fund elections, similar to New firms with five or more employees, whom do not currently have any paid sick leave will be abused. abortion rights—that they feel York City’s model. Many business leaves retail shops and restaurants paid sick leave. Schnipper’s already provides vaca- would trigger lawsuits against em- leaders feel that such a system would that pay by the hour scrambling to Business groups, like the Man- tion time for employees who work at ployers. Other concerns include boost labor-backed candidates. make financial arrangements to hattan and Brooklyn chambers of least 40 hours a week and plans to proposals to mandate paid family Mr.de Blasio’s top priority is a tax cover the unplanned expense. commerce, fought the bill for years. convert that benefit into the new leave, to index the state minimum hike on city taxpayers making more “Having employees take off and Yet last week, they released state- mandated sick leave. “I can’t afford wage to inflation, and to end a sub- than $500,000 to fund citywide still be paid—that will definitely ments applauding the mayor and both,” he said. sidy for businesses paying teenagers prekindergarten and after-school push us over the edge,” said Rakan City Council for addressing the Advocates say that tipped work- the minimum wage. programs. That agenda could well Ammouri, owner of the West Vil- needs of workers, offering only the ers are unlikely to take off work un- The labor-backed Working come into conflict with Mr.Cuomo’s lage’s Path Café,which employs few- most tepid protestations (see Insid- less they are truly sick. Families Party in the coming weeks tax-cut plan, despite the governor’s er than 10 people.“I would love to pay er, Page 6). “We do continue to be Some businesses applauded the will roll out a plan to let municipal- support for statewide pre-K. the employees to rest when they are concerned with the costs of doing change. Young Cheng, manager of ities unilaterally set minimum Mr.de Blasio and his allies also are genuinely sick, but unfortunately, I business in New York City and the Cafe Hestia, a deli on Third Av- wages higher than the state’s, pushing the Legislature to give up just can’t afford it as an employer and burdens placed on the backs of the enue,noted that his company,which sources told Crain’s. That likely authority over various city policies. have the restaurant stay above water.” small business owners,” said Nancy will be affected by the law’s revision, would spur the City Council to hike “The city should be able to make its The existing law, passed last Ploeger,president of the Manhattan has a sick-leave policy for employ- wage levels in the five boroughs, af- own decisions on issues such as rent spring, gives workers at least five chamber. ees. “[Five paid-sick-leave days] is fecting numerous industries from laws and speed cameras, just to name days of paid time off per year. Its just a little thing,”he said.“Employ- fast-food restaurants to car washes. a couple,” his new state legislative af- planned implementation in April A better threshold ees are human beings as well.” “The idea is that the state minimum fairs director,Sherif Soliman,told re- had applied only to companies with Some wonder if the law may be Many companies, of course, al- wage would be a floor,not a ceiling,” porters. Landlords want the state to at least 20 employees. Businesses too harsh for companies that are just ready offer sick leave, but business one source said. retain control of rent regulation. Ⅲ with between 15 and 20 workers starting out. Offering paid days off owners say they prefer to make that The plan will probably face resist- were given until 2015 to comply. would have been impossible for decision themselves.Alex Woo,who ance among Republicans, and while LISTEN to a discussion at The deal announced last week Christina Ha, who opened Mac- founded a namesake jewelry compa- Assembly Speaker Sheldon Silver CrainsNewYork.com/podcasts eliminates those changes. It also aron Parlour on St. Marks Place in ny in Manhattan more than a dozen does away with “economic trigger” 2012 with her husband, Simon years ago,said she was surprised that language that would delay the legis- Tung, during the shop’s first few there even needed to be a mandate. DEBATING CUOMO’S TAX CUTS lation if the economy slumps. An months in business. Her 15 employees get sick days off. exemption for the manufacturing “The budget just wasn’t there,” “People get sick, and I under- AS SUPER BOWL XLVIII EXCITEMENT heats up in New York, Gov. Andrew sector will be removed, and grand- said Ms.Ha,who is opening a second stand it,” she said. “We’ve always Cuomo’s $2 billion tax-cut proposal has become a political football in its own parents, aunts and uncles will be location on Columbus Avenue next wanted a good work-life balance for right, being simultaneously lauded and battered by special interests across added to the definition of family month. “We probably couldn’t have all of our people in not having to the state. members allowed to take days off to done this when we were at five em- worry about not getting paid when Controversy over the plan centers on the bundle of pro-business cuts in care for sick children. The Depart- ployees without taking a real finan- they’re actually sick.” Ⅲ Mr. Cuomo’s proposal, in particular a reduction in the corporate franchise tax ment of Consumer Affairs will still cial hit, so I understand how tough it statewide and the elimination of such taxes for upstate manufacturers. be the enforcing agency, even can be.”She noted that 10 employees Additional reporting by Joe Anuta, Groups like the Business Council of New York State support the bill, while left- though it currently lacks the capac- might be a good threshold to allow Lisa Fickenscher,Thornton McEnery leaning advocates, such as the union-backed Fiscal Policy Institute, voice ity of a regulatory body. employers more flexibility. and Bilal Iftikhar concerns over losing as much as $2 billion in tax revenue. A report released last week by the Public Policy Institute of New York State—a research affiliate of the Business Council—argues that restructuring the corporate-tax code would be a boon, leading to more than 14,000 Riverside Church second coming jobs by 2019, with statewide personal income increasing by $1.3 billion during the same period. In addition, the tax cut would spur between $500 million and $800 million in private-sector capital investments by 2024. Continued from Page 4 that surrounded Rev. Braxton’s But the Fiscal Policy Institute’s chief economist, James Parrott, took issue “If a company is making money, tenure and departure. with the findings. “We believe the study to be severely, if not fatally, the board is generally happy,” he “We just really needed time to flawed,” he told Crain’s. said.But in a church,he added,peo- heal,” he said. Mr. Parrott said the study lacked a spending analysis. “They don’t take into ple can complain to the board if they Some observers suggested that account the actual cost of the corporate tax cuts,” he said of the potential feel slighted by the pastor or don’t members departed after the Rev. economic impact of $2 billion less in state revenue. like the religious direction. Braxton debacle. A Riverside spokesman said that the church has “Simple math suggests those extra costs could be $1.8 billion by 2019,” Still searching 1,600 members, a number that has said Mr. Parrott. Creating cohesion in a multi- been stable for a few years. The report obliquely addresses the impact of lost tax revenue by asserting getty images that the increased economic activity generated by augmented personal income denominational,multiracial church is THE REV. JAMES FORBES’ return has given even trickier, since such institutions Donations down Riverside “time to heal.” will grow to compensate for “about one-third” of projected lost revenue. don’t follow just one set standard. Mr.Leach said that donations are A spokesman for the Business Council defended the report’s findings, “There aren’t a lot of places like down,although he couldn’t immedi- saying that the organization is taking the governor at his word on his Riverside, so few people have expe- ately say by how much.The church’s about 18 months to two years.That initiative to control spending. The spokesman also questioned the slant of rience running a place like it,” said finances are not publicly available, two-year period ends in June, and Mr. Parrott’s analysis. Gary Dorrien, a professor of reli- and it did not divulge them. He said Mr. Leach said the church hopes to “I find it funny that there are questions about opportunity costs related to gion at Columbia University who the church is trying to find ways to have found a permanent replace- corporate tax cuts but never on initiatives by the state that put pressure on the also teaches at the Union Theologi- generate money, such as increasing- ment by then. private sector,” said the spokesman. “In this study we were asking, ‘Does tax cal Seminary. ly renting out the building for events. “We are going about this search reform have a benefit?’ We’re saying it will.” Still, he said, he knows there are He added that the search to find very deliberately,” he said. “We are Mr. Parrott responded, “You can talk up all kinds of wonderful economic many pastors interested in the posi- a pastor started about 18 months right where we thought we would impacts if you don’t have to pay for anything.” tion. ago with the idea that it would take be.” Ⅲ That critique is being leveled at Mr. Cuomo as well. His pledge to control Mr. Leach said Riverside asked spending in Albany has provided fiscal and political cover for his Rev. Forbes to return temporarily to proposal, but the particulars remain vague. Public Advocate Letitia James be a strong steward as the search for CORRECTIONS took shots at Mr. Cuomo last week as she rallied Albany-bound education a permanent pastor enters its final Jonathan Tisch is the chairman of Loews Hotels. His title was misstated in the Jan. 13 “Restoration activists to demand more funding for schools across the state, an initiative stages. He acknowledged that it period.” that she claimed would be undermined by tax cuts. “Tell Gov. Cuomo to do seems like the search has been tak- John P. Maher, CBRE Group Inc.’s executive vice president, said, “We’ve gotten used to a smart, pro- the right thing for our children and not give $2 billion in tax cuts that favor ing a long time, but said the reality business administration with a long-term outlook,” in response to the question “Where will Mayor Bill de corporations and the wealthy, but instead increase funding aid by $1.9 billion is different. Mr. Leach explained Blasio affect the market most?” His reply was misstated in the Jan. 13 Real Estate Report Q&A. and invest in our future, our children,” she said. —THORNTON MCENERY that the church was deeply wound- Abandoned transit lines have tracks that would need to be upgraded or removed. This fact was ed by the media circus and divisions misstated in the Dec. 16 “A new mayor, a new era.”

January 20, 2014 | Crain’s New York Business | 19 20140120-NEWS--0020-NAT-CCI-CN_-- 1/17/2014 5:00 PM Page 1

SCREEN TIME: Viggle Lead Mobile Engineer Billy Tobon (center) instructs City’s illegal ivory trade interns Paola Maldonado and threatens elephants Hasan Priyo.

illegally, creating 154 metric tons of There is no documentation needed Extinction seen if unlawfully harvested ivory each to keep those pieces of ivory on the sale of material from year, valued at more than $30 mil- shelf, and it’s very hard to distin- lion, according to a September re- guish the age of the ivory.” tusks is not stopped, port by the United Nations Office advocates say on Drugs and Crime. System loopholes Various witnesses,including am- While the purpose of the hearing bassadors from Botswana and Tan- was to examine ways to improve the BY BILAL IFTIKHAR zania,read statements and answered state’s laws protecting endangered questions on the threat that illegal species and restricting the sale of il- About 96 elephants are killed every ivory sales impose upon Africa’s en- legal ivory,many smugglers and sell- day in Africa—one every 15 min- dangered elephants. ers of illegal ivory have already found utes—a slaughter that has con- “In my country, the slaughter of loopholes in the system,according to

tributed to a 76% drop in their pop- elephants and sale and trade of ivory Maj. Scott Florence, acting director buck ennis ulation since 2002.Experts trace the has soared in recent months,” said of the Division of Law Enforcement catastrophic decline in part to a Tuvako Manongi, Tanzania’s U.N. at the state Department of Environ- thriving trade for illegal ivory here ambassador, during the hearing. mental Conservation. Access Code in New York City, where state and “This has placed elephants at risk in “Since the Endangered Species federal environmental agencies all of Africa, and could lead to the Act of 1972, any items obtained Continued from Page 3 Hsu, who founded Coalition for seized more than $2 million worth extinction of the species.” from endangered species have been science undergraduates, or more Queens in 2011 with the idea of fos- of the material from elephants’tusks The elephants are killed for their illegal to sell,” Mr. Florence testi- than twice as many as New York tering the tech ecosystem in the in 2012. ivory tusks,which are used in art and fied. “You would need a permit to University, yet relatively few of its city’s most diverse borough. He’s “I’ve been in wildlife law enforce- jewelry. In New York, the sale of possess the ivory.However, many of students take part in the heady tech planning to run two classes later this ment for 30 years,and I’ve never seen ivory is regulated by the Environ- these illegal vendors have seen hard- scene across the river, according to year, with a total of 50 students. anything like this before,” said mental Conservation Law, which is ly any jail time.” school officials. Of the 21 students who took part William Woody,assistant director of based in part on elephants’ being Advocates seemed to suggest For Ms. Maldonado, Access in Access Code, he said, seven are the Office of Law Enforcement at added to the federal endangered- that little will change as long as any Code had the advantages of being now freelancing as mobile develop- the U.S. Fish and Wildlife Service. species list in the 1970s. But law- ivory market is legal here. affordable as well as convenient for ers while working on their own “The price per pound [of ivory] has enforcement agents struggle to “Once ivory is in a country, it is a working person, offering its class- startups,eight have paid internships doubled in the past 30 years.” identify the age of the ivory they very difficult to separate legal and il- es on Saturdays and weeknights. or jobs, and five are continuing their find for sale, which determines its legal ivory,” said Elizabeth Bennett, “I had been looking to change my education (one decided not to pur- $30M trade legality. vice president of species conserva- career,”she said.“And I walked away sue a career in tech). Mr. Woody testified last week at “I put ivory in front of you; you tion at the Wildlife Conservation with a basic knowledge of iOS.” Veterans of efforts to expand the a state Assembly hearing about the see these items on the shelf: How Society.“And the legal ivory market Access Code is hardly the first tech talent pool warn that the issue growing problem. Up to 60% of old is it?”said Mr.Woody.“Is it from often provides cover for the illegal initiative to try to figure out a way to is complicated,with no simple fixes. dead elephants in Africa are killed before the [law] was imposed? market.” Ⅲ expand the tech talent pool, a task Programs need to adapt quickly to that business leaders—including the changes in the industry,and must be Partnership for New York City in its able to be applied to a wide range of recent NYC Jobs Blueprint—say city residents. Pizza maven’s all-star team will be crucial to the city’s growth. Employment in the high-tech Filling jobs sector totaled 103,000 jobs in 2012, As successful as Access Code has Continued from Page 3 personality,” said Mr. Wladis, 50, Boeheim. It’s not hard to imagine having grown an average of 8% an- been, it had the advantage of draw- Pizza (basketball star LeBron James who wears shorts even in frigid how Mr.Wladis, a storyteller with a nually since 2009—vastly outpacing ing from a highly motivated, fairly is an investor), 800 Degrees weather, though he dons long pants big personality, became acquainted the private sector’s 2% growth rate elite pool:Although its students may Neapolitan Pizzeria and Pieology, for weddings,funerals and meetings with such prominent people. At age during the period, according to the have been from underrepresented among others. These eateries use with bankers.“I don’t have anything 9, he personally asked Mr. Boeheim New York City Economic Develop- populations, they included gradu- high-heat ovens to churn out made- sophisticated or serious.” to allow him to be a ball boy at Syra- ment Corp. Even so, despite New ates of Columbia, Wharton and to-order pies in minutes.Customers His career began 30 years ago, cuse’s games. York’s 8.7% unemployment rate, Pratt, as well as top public colleges. choose their toppings assembly- with a stint at Tavern on the Green, Mr. Stossel, who works for Fox there have been 28,000 postings for The program is also labor- line-style, a nod to the approach of followed by a few jobs at other News, is a longtime customer at technology jobs in the city during intensive, as it continues to help its other fast-casual restaurants like prominent spots.He began opening Firehouse,where he plays backgam- the past month, according to an graduates with job applications, in- Chipotle. Mr. Wladis expects each his own restaurants in 1990. About mon once a week, according to Mr. analysis by the New York City La- vestor pitches and freelance projects. Custom Fuel store to generate more 15 years ago, he ventured to North Wladis.Several years ago,he invest- bor Market Information Service. Still, Access Code is already fill- than $1 million in revenue. Carolina, where his mother lives, ed in another eatery owned by the Groups like CodeNow, Girls ing jobs, such as the one that Eli Mr. Wladis’ recipe for attracting and opened his first pizzeria, nam- Restaurant Group. Who Code, Black Girls Code and Bierman landed as a mobile devel- A-list investors is simple. He has a ing it Fuel, simply because he Mr. Cuomo met the restaurateur Girl Develop It have all been work- oper at Manhattan startup Vanta- knack for making friends in high bought a gas station and converted when he was in law school and fre- ing to make careers in technology geous Inc., which has created a places, and his restaurants turn a it to a restaurant. quented Firehouse. Later, the two more accessible. And last March, video-production app. A geography profit. His Manhattan-based com- Today, there are 10 Fuels in the began playing basketball together. the NYCEDC launched a series of major at CUNY’s Macaulay Hon- pany, the Restaurant Group, has a Carolinas and in D.C. He opened He invested in AG Kitchen as well. eight programs that aim to bring ors College, he didn’t know any- family of some 50 investors who re- the first Custom Fuel in the capital Mr. Cuomo declined to reveal how low-income New Yorkers into the thing about coding or startups when ceive monthly checks, Mr. Wladis last year and a second this month. much he invested in Custom Fuel, knowledge economy. he graduated last spring. said.He is the majority owner of the He is in the final stages of creating a saying simply in an email that it was “My initial idea was I was going to company,which generates up to $40 franchise program with a marketing “enough” money. But he said his in- Connecting with startups learn to make my own app,” he said million in annual revenue,he added. company that he hopes will expand vestments have already returned div- Access Code’s distinction has of Access Code.“I didn’t realize how “The investments make money the brand nationwide. idends.“I get treated the way Jeremy been to connect its students specifi- many opportunities there were.” for me,”confirmed longtime backer treats his investors, [which is] like cally with the city’s startup scene— Entrepreneurs say the program’s Steven Katz,a residential real estate Heavy hitters familia,” he wrote. and to teach a sophisticated skill for graduates will continue to find work, developer who has a stake in nearly Mr. Katz’s son Neil, a vice presi- Custom Fuel is Mr.Wladis’ most just $1,000 (or free for students in simply because they’re needed. all of Mr. Wladis’ 19 restaurants, dent at the Weather Channel and ambitious project, and the culmina- need). That’s about a tenth of what “It’s insanely hard to find iOS seven of which are in New York editor in chief of its digital opera- tion of years of research, crisscross- tuition can run at the Flatiron School developers, and every technology City. “I’ve brought in friends and tion, became a first-time restaurant ing the country and sampling pies.It or General Assembly, the main cen- company in NYC is looking to hire relatives, and they have all been investor in the New York City Cus- also has the potential to become his ters for novices learning to code.The one, at least,” Josh Miller, co- making money.” tom Fuel. first national brand. program’s $200,000-plus cost was founder of Branch,the social-media Startup costs for the 1,200- “I live on the Upper West Side “We’ve taken something from covered by grants from Google, the startup that was just acquired by square-foot Harlem location came and really see how Jeremy’s business- what we’ve seen in every place,” he City Council and the NYCEDC. Facebook, wrote in an email. in at an affordable $400,000, in part es are part of the neighborhood,” said. “But we have the best line “The reason we have entrepre- “There’s a real opportunity for because it had been a pizzeria. said Neil, adding, “I get to invest speed.We can pound out 150 pies in neurs come in is we want [our stu- Access Code to take advantage of Mr. Wladis has made a career of with some of my basketball heroes.” an hour.” Ⅲ dents] to think innovatively, and those realities.” Ⅲ launching low-key, neighborhood Steven Katz brought in the bas- [understand] that they can create eateries that don’t require big budg- ketball stars, and Mr. Wladis re- LISTEN to a discussion at great companies that maybe nobody LISTEN to a discussion at ets.“All of the restaurants reflect my cruited Messrs. Cuomo, Stossel and CrainsNewYork.com/podcasts else is thinking about,” said Jukay CrainsNewYork.com/podcasts

20 | Crain’s New York Business | January 20, 2014 20140120-NEWS--0021-NAT-CCI-CN_-- 1/16/2014 5:14 PM Page 1

HELLUVA TOWN INSIDE Source Lunch New A classy Silverstein CEO has big quaff shoes to fill P. 22 In 2003, James Caan Out and About starred opposite Will Ferrell in the film Elf. Winter Antiques Show at Ten years later, Park Ave. Armory P. 23 cousin Ed Caan capitalized on the family ties with the funnyman through a bottle of booze. WHOLE NEW BALL Ed Caan is GAME: Producers founder and CEO of Tony Ponturo and Brooklyn-based Fran Kirmser hope Riviera Imports. The company non-theatergoing men will buy tickets began distributing Ron Burgundy to Bronx Bombers. Blended Scotch Whisky, a tribute to Mr. Ferrell’s “Scotchy, Scotch, Scotch”-loving buffoon, to catch the wave of publicity around Anchorman 2:The Legend Continues. Fans clearly sought a fine sousing before and after the Dec. 18 premiere. “We have sold 144,000 bottles already,” said Mr. Caan. The licensing agreement started when Paramount Pictures approached Celebrity Cellars, which does product tie-ins. Paramount then contacted Riviera, which distributes through Phoenix/Beehive. The Scotch, from Old St. Andrews Distillery, has a suggested price of $25 for 750 ml. While he wouldn’t divulge revenue, Mr. Caan declared, “It’s a good business to be in.” The liquor is available in the U.S., and Mr. Caan plans to introduce it in the U.K. and beyond. Up in smoke?

Pergola, a new Flatiron district restaurant with a hookah lounge, may have gotten in just under the (smoking) gun. That’s because Democratic Councilman Vincent Gentile has reintroduced legislation to prevent new hookah establishments and regulate existing ones. The eatery, opened on Jan. 8, is run by Mohammed Abdalla, co-owner of hookah bar and lounge Suite 55 in midtown. The 3,700-square-foot space is located at 36 W. 28th St., walking distance from competitors Arabesque and Taj Lounge, amid dozens more in Manhattan alone. It seats 120 people and has 12 bar Pitching a new audience stools.The menu is Mediterranean with Middle Eastern influences. Although smoking a hookah may Sports-show producers hope to score with elusive male not exactly be healthy, Mr. Abdalla claimed that, at $20 per bowl, it’s a demographic as Bronx Bombers comes to Broadway social activity. He cited the cost to demographic as Bronx Bombers comes to Broadway set up the space as “a lot.”

This puff palace could be Mr. buck ennis Abdalla’s last. Mr. Gentile, in his third term serving Brooklyn’s BY MIRIAM KREININ SOUCCAR HAVE A SEAT District 43, will reintroduce his 2010 bill banning such outposts this year. (The earlier measure early 70% of all Broadway theatergoers are women. But a new play that died in committee.) “Parents from chronicles the careers of Yankee legends such as Babe Ruth and Yogi Berra the Arab-American community is trying to turn an unlikely demographic—male sports addicts—into came to me concerned about their 70% children smoking in hookah bars,” ticket buyers for the Great White Way. ¶ The show, Bronx Bombers, started PERCENTAGE of all said Mr. Gentile, who added that previews Jan. 10 and opens Feb. 6. In addition to the play—which uses a Broadway theatergoers “any type of smoke involves who are women inhaling tar and carbon 1977 fight between Reggie Jackson and manager Billy Martin as its main monoxide.” storyline—ticketholders will be treated to a memorabilia museum in the —lisa ferber theater lobby, complete with original seats from the House That Ruth Built, and autographed jerseys from star Yankee players.They will have the chance to bid on 10 0K authentic baseball memorabilia and listen to lectures by sports reporters and other baseball NUMBER OF PEOPLE Nanalysts after the show. ¶ The play is the third in a trilogy of sports shows produced by Fran the Bronx Bombers producers say they have Kirmser and Tony Ponturo, and their biggest effort yet.The show is capitalized at about $3 introduced to Broadway million, roughly 10% higher than the two others, and the pair have marketing and licensing with their two previous agreements with the Yankees and Major League Baseball.Those See PITCHING on Page 22 sports shows

January 20, 2014 | Crain’s New York Business | 21 20140120-NEWS--0022-NAT-CCI-CN_-- 1/16/2014 5:15 PM Page 1

SOURCE LUNCH: MARTIN BURGER

Pitching a new audience bloomberg news by Daniel Geiger Continued from Page 21 agreements, for which the produc- PLAY BALL: A scene ers paid an undisclosed fee that in- from the show cludes a small royalty,give them the Bronx Bombers on rights to use everything from team Broadway. Larry Silverstein’s archives to authentic pinstripe uni- forms, and to market the show di- rectly to baseball fans. chosen successor “Sports are local, and here we have generations upon generations of Yankee fans,” said Mr. Ponturo, who previously worked in sports ast week, Martin Burger the World Trade Center because it’s sponsorship marketing for was promoted to CEO so complex that I would get sucked Anheuser-Busch.“If we do the right of Silverstein Proper- up into it.I’ve been involved in grow- job onstage, we think that word-of- ties, taking over man- ing our portfolio elsewhere. mouth alone will take this to the agement of the company next level.” Lfrom founder Larry Silverstein, who You’re focused on residential? Hitting a home run isn’t easy, was named chairman. For the past In New York,yes.Residential and ho- however. Ms. Kirmser and Mr. two years, Messrs. Burger and Sil- tel. We closed in recent months on a Ponturo’s last sports drama, Mag- verstein had run the company, best construction loan with the Children’s ic/Bird, an account of the friend- known for its buildings at the World Investment Fund, one of the larger ship between basketball greats Trade Center, as co-CEOs. loans of 2013 [for a new hotel/resi- Earvin “Magic” Johnson and Larry dential tower at 30 Park Place]. Bird, closed quickly in 2012 after When did you join Silverstein Properties? receiving negative reviews. February 2010. Ultra-luxury towers are on the rise right Their first sports show, Lombar- now. How does 30 Park Place stack up? di, about the Green Bay Packers What was your initial role there? We’re the value proposition.If you can coach,ran for eight months and was I was an executive vice president for buy at $6,900 per square foot at 432

the longest-running show of the leynsejames the first two years, and after the end Park, and you can buy at $4,000 with 2010-2011 season. Since then, it’s of the second year I became co-CEO us, that’s a bargain.We’ll have incred- been licensed to theaters in nearly 30 previous sports shows introduced Research & Analysis. “Two-thirds with Larry. ible views of the East River, the Hud- cities.But despite that success,it still about 100,000 people to Broadway of the Broadway audience is son River, the World Trade Center hasn’t made a profit. All of the plays who had never been to the theater tourists anyway, so [the producers] Was it planned from the start that you and the Statue of Liberty. TriBeCa were written by Eric Simonson. before. But demographic experts are dealing with a small segment to would eventually succeed him? and SoHo are low-rise, so the views begin with.” That was the plan. I was supposed to will be unobstructed to the north. Group bookings Broadway insiders say that even be CEO at the end of the The producers aren’t discour- ‘I can’t believe though the subject matter may second year,and Larry said, WHERE You’re the value proposition at aged.“Broadway is a tough business, pique interest with fans initially,its “You know,I’m not ready to $4,000 per square foot—you and anytime you do something new, how many success or failure, as with any show, step away from this,” and I THEY are being facetious, right? it takes a while to catch on,”said Ms. will depend on what’s delivered on- said,“Good,because I don’t DINED Yes, I say that tongue-in- Kirmser, who is already at work on people have stage. want you to.” I don’t expect THE PALM cheek. The reason why two new sports-themed produc- “The audience for this show is much to change when I’m RESTAURANT those buildings are getting tions. “Lombardi is being made into never been to a right here; it’s easy to get them in sole CEO and he’s chair- 206 West St. to $7,000 is because they (646) 395-6393 a motion picture now, and we have the door,” said Broadway producer man. He does take more www.thepalm have Central Park views. the rights for 10 years.” Broadway show’ Ken Davenport. “But whether time on [his] boat. But he’s .com/tribeca We’re selling water views, Ms. Kirmser said that single- you’re doing a show with a star or a still 150% involved in which you can get in other AMBIENCE: ticket sales for Bronx Bombers are al- successful musical catalog,or about everything we do. Tries to give a places. But our first [con- ready double that of Lombardi, the Yankees, what the audience neighborhood do] unit is 330 feet in the though she declined to give figures. thinks of the show in previews will How old are you and Larry? vibe through its air. Our [30 Park Place ho- The show has attracted a number of say newcomers won’t necessarily define its success.” I’m 48 and Larry’s 82. memorabilia and tel] product is the Four group bookings such as U.S. Trust, become regular theatergoers even if cozy decor, but Seasons, and there is no Cast changes Can he keep up with you? like much of that the ALS Foundation and Fordham they have a good experience. area in lower branded condo like that. University.Fox Sports is taking over “There’s a certain segment of Ms. Kirmser and Mr. Ponturo He has more energy than Manhattan, this the theater one night during Super audience who will be attracted by take that sentiment seriously. The anyone I know. I dragged six-year-old Is the high-end residential Bowl week to entertain its sponsors, the topic, but whether they’ll come play has undergone a number of him through four cities in outpost of the market unfairly maligned for decades-old the way it represents the Mr. Ponturo said. back or not,I can’t say,”said George script and cast changes since it re- China in June. In the last chain feels brand- The producers say their two Wachtel, president of Audience ceived a host of bad reviews in its one, I went to the gym at 6 new. polarization of wealth here? off-Broadway run at Primary in the morning to work out, It’s not changing the city. If WHAT THEY ATE: Stages in the fall, where it was and Larry was down there Grilled chicken anything,it’s creating a larg- called “kitschy pap” by The New swimming for 35 minutes. Cobb salad, er tax base for the city.We’re SPRING CURTAIN-RAISERS York Times. Peter Scolari, formerly Pellegrino, being competitive with the BRONX BOMBERS won’t be up against as much competition this spring as it in Lucky Guy, and his real-life wife, Mr. Silverstein has a cappuccino rest of the world. You want might have been in years past. Only 10 plays are slated to open in the next Tracy Shayne, will join the cast as reputation for being a tough “Gigi” salad, to have people spending six months, down from 15 during the same period last year. Mr. Berra and his wife, Carmen. negotiator. Are you? iced tea, espresso money in New York, The shows coming to Broadway this season don’t boast as many big The producers, who have I have a different style.But PRICE: $87.98, wealthy people living here names as before. The exceptions are A Raisin in the Sun, a revival with worked together on the revivals of the thing about Larry is including tip and buying on Fifth Avenue Denzel Washington that opens April 3, and Outside Mullingar, a new Edward Albee’s Who’s Afraid of Vir- once you cut a deal with and Madison Avenue and romantic comedy starring Debra Messing, debuting Jan. 23. ginia Woolf? and David Mamet’s him, he’s the most moral guy in the down at the new mall at the World A bevy of big musicals are on the agenda, however, and they could steal Glengarry Glen Ross, are also trying world. So when you have a deal with Trade Center or wherever. hard to get baseball fans in the door. him, you have a deal. And I’d like to the spotlight. The 10 productions slated to open include the latest Disney Do you think Silverstein Properties will show, Aladdin, which bows March 20; Woody Allen’s musical comedy, All Yankee season-ticket holders live up to that as well. have been offered discounted tick- ever be known as Marty Burger’s firm? Bullets Over Broadway, opening April 10; and The Bridges of Madison ets, as have 350,000 people on the Silverstein Properties is best known for I hope I get recognized as one of the County, which debuts Feb. 20. Idina Menzel will star in If/Then, opening MLB website.Radio ads with John the World Trade Center site. But you’re names that helped make this organ- March 30, and Neil Patrick Harris will headline in Hedwig and the Angry Sterling, the Yankees’ radio an- not really involved in that, right? ization great, but I don’t think I’ll Inch, starting April 22. nouncer, are running on sports sta- For the first two to three years,I tried ever replace Larry Silverstein, nor Two big revivals will hit the stage: The Roundabout Theater’s smash tions WFAN and WEPN. And to stay away from anything involving will I ever try to. Cabaret, with its original star, Alan Cumming, and a reimagined production commercials for the play are airing of Les Misérables, in honor of the blockbuster’s 25th anniversary. on ESPN and the MLB Network, One musical in particular is likely to compete directly with Bronx unusual places for Broadway fare. WHO KNEW? The walls of the Palm have Bombers in its ability to attract male, sports-loving, first-time theatergoers. “I can’t believe how many peo- Rocky, a new and much-hyped production based on the Oscar-winning ple have never been to a Broadway caricatures of celebrities and well-known boxing film, opens March 13. —MIRIAM KREININ SOUCCAR show,” Mr. Ponturo said. “We’re patrons. See if you can find Mr. Burger’s. trying to get to the fans early on.”

22 | Crain’s New York Business | January 20, 2014 20140120-NEWS--0023-NAT-CCI-CN_-- 1/17/2014 5:01 PM Page 1

OUT AND SNAPS Nearly $2 million raised for fashion scholarships ABOUT by Ali Elkin and Theresa Agovino

CAREER BUILDER TUESDAY, JANUARY 21 The New York American Marketing Association and JWT will host TIKI BARBER REVEALS: WORKING WITH CELEBRITIES TO BUILD YOUR BRAND. The former New York Giants star will talk about how celebrity influence can boost a brand and how endorsements have changed in recent years. The event, which is scheduled carrie mae weems for 6 p.m. until 8 p.m., will be CULTURE FIX buck ennis held at JWT headquarters at bruce glikas FRIDAY, JANUARY 24, 466 Lexington Ave. Admission BILL BRATTON, RIKKI KLIEMAN and CLIVE DAVIS at the opening-night party for MELINDA KATZ and MARY ANN TIGHE at the Real Estate THROUGH WEDNESDAY, MAY 14 costs $45 for members and $65 Beautiful: The Carole King Musical on Jan. 12. Board of New York’s 118th Annual Banquet on Jan. 16. The Guggenheim Museum’s new exhibit CARRIE for nonmembers. Registration MAE WEEMS: THREE DECADES OF PHOTOGRAPHY is available online at AND VIDEO begins this week. The artist’s work www.eventbee.com/v/influencer focuses on race, class and gender, and has relationship. evolved over the past 30 years to examine global inequality issues. The museum is closed WEDNESDAY, JANUARY 22 Thursdays. Admission costs $22 for adults. For The New York Public Library’s more information, visit www.guggenheim.org. Science, Industry and Business Library will host HOW DO I GET SATURDAY, JANUARY 25, PAID FOR … WHO I AM? Speaker AND SUNDAY, JANUARY 26 Michelle Pyram will address The New York Theater Ballet will present THE some of the assumptions people ALICE IN WONDERLAND FOLLIES this weekend. make about themselves that The production—a take on turn-of-the-20th- hold them back in their careers. century vaudeville shows—is part of a series The free event will run from called Once Upon a Ballet, which will later 6 p.m. until 7:30 p.m. The include Cinderella, Carnival of the Animals and library is located at 188 Sleeping Beauty’s Wedding. The show is at Madison Ave. For more Florence Gould Hall, 55 E. 59th St. Tickets cost information, visit

$39 and are available at www.nytb.org. www.nypl.org/locations/sibl. bfanyc.com

www.studio7nyc.com GEORGE FELDENKREIS, LARRY LEEDS and OSCAR FELDENKREIS at DAVID PARSONS, PAUL TAYLOR and ROBERT BATTLE at the benefit for the YMA Fashion Scholarship Fund/Geoffrey Beene Foundation annual DON’T MISS WINTER ANTIQUES SHOW Parsons Dance on Jan. 14. It raised $135,000. benefit dinner on Jan. 8. It raised $1.85 million. TUESDAY, JANUARY 14, THROUGH SUNDAY, FEBRUARY 2 For the rest of the month, the floor of the Park Avenue See more of this week’s Snaps online at CrainsNewYork.com/galleries. Armory will be filled with art, jewelry, artifacts and furniture available for a closer look and for purchase. Tickets cost $25 and are available online at www.winterantiquesshow.com. The show benefits East Side House Settlement of the South Bronx. The Park Avenue Armory is located at 643 Park Ave. and will be open daily for the exhibit. courtesy of phillip courtesy colleck ltd of Crain’s Arts & Culture Breakfast

OPENING FUNDRAISERS WEDNESDAY, JANUARY 22, THURSDAY, JANUARY 23 INVENTIONS AND REINVENTIONS THROUGH SUNDAY, APRIL 13 WGIRLS, an organization that The fifth floor of the New Museum will be provides assistance to women and transformed into a Soviet-era science- children in need, is hosting BID UP A fiction spaceship for REPORT ON THE STORM, a date auction at the Highline How new and newly renovated institutions are CONSTRUCTION OF A SPACESHIP MODULE. Ballroom, 431 W. 16th St. Those not The design of the ship comes from the 1963 in the market for a bachelor or reshaping New York’s cultural landscape. Czech sci-fi film Ikarie XB-1. Video, bachelorette can contribute to the sculpture and print works will be on view cause by attending. Individual general throughout the ship. The New Museum is admission costs $55. The event will Monday, March 3, 2014 / Con Edison Conference Center / 4 Irving Place located at 235 Bowery and is open start at 7 p.m. For more information, 8:00 a.m. - 8:30 a.m.: Networking Breakfast / 8:30 a.m. - 10:00 am: Program Wednesday through Sunday. Admission visit www.wgirls.org. costs $16 for adults. For information, visit www.newmuseum.org. FRIDAY, JANUARY 24 The Ellen Hermanson Foundation Keynote Laurie M. Tisch, President, Laurie M. Tisch Illumination Fund will host a POP-UP ART SHOP, featuring work by Brazilian artist Chris Barreto, at Chelsea Manor, 138 Panel Joe Daniels, President and CEO, National September 11 Memorial & Museum , Founding Artistic Director, Theatre for a New Audience W. 25th St. The event is scheduled Discussion for 6 p.m. until 10 p.m. Admission is Glen Whitney, Founder and Executive Director, National Museum of Mathematics free, and art sales benefit the organization, which serves breast- Cost to $90 for individual ticket(s) / $900 for table(s) of ten cancer patients. For more Attend Early bird pricing ends January 30. information, visit

jindrich polák www.ellensrun.org. MARK YOUR CALENDAR… REGISTER TODAY » crainsnewyork.com/events-artsmarch2014 SUNDAY, FEBRUARY 2 Sponsored by: RING IN THE YEAR OF THE HORSE at Chinatown’s LUNAR NEW YEAR PARADE & FESTIVAL, You must be pre-registered to attend this event. No refunds permitted. which always boasts impressive visuals and music, as well as unbeatable proximity For more information, contact Adrienne Yee at 212-210-0739 or email to great food. The parade winds through Little Italy and Chinatown, along several [email protected]. different streets (Mott Street, Allen Street and East Broadway are good places to For sponsorship opportunities, contact Lauren Black at 212-210-0736 or watch). The annual firecracker ceremony at Sara Roosevelt Park takes place two [email protected]. days earlier, Friday, Jan. 31, at 11 a.m. For more information, visit www.betterchinatown.com.

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