Strength in Numbers

TECH Race is on to bring broadband to outer boroughs PAGE 3 POLITICS Queen’s DA race is bellwether for city’s Democratic establishment PAGE 3

CRAINSNEWYORK.COM | JUNE 17, 2019 | $3.00

REAL ESTATE Rent regs will cripple

PAGE 12 affordable housing, developers warn

BY DANIEL GEIGER

egislators in Albany proposed sweeping reforms to the state’s rent regulation rules with the Lgoal of creating the strongest protections in a generation for a ordable housing in the city. But many large developers say the new laws come with a terrifying consequence: ey could scuttle major development projects that would have created thousands of a ordable units. Already one major developer in the city has suggested it will cancel plans to raise a cluster of apartment buildings on the Astoria waterfront. e Durst Organization, which owns millions of square feet of commercial and residential space in the city, had planned to erect 2,500 apartments in seven buildings at Hallets Point—including hundreds of a ordable units. e rm now says the work will cease after having recently nished the rst building at the $1.5 billion development. “It can’t be built,” a Durst spokes- omen are asking, man said. Are we nally on Another big builder, who is in the process of developing a prominent STRENGTH IN the cusp of real apartment tower in Brooklyn, said change? the laws would cause him to shift Since the previous Crain’s his focus away from the city. W “We’ll nish what we’re doing NUMBERS Most Powerful Women list in here, but we’re not looking at new Female-powered workplace trends are 2017, the #MeToo movement deals in New York anymore,” said has continued to shake the the developer, who said he didn’t driving real progress for women want to be identi ed at a moment foundations of power, from when he feels builders are being BY AMY CORTESE Hollywood to Capitol Hill. villainized by politicians and tenant activists. “We’re going to do our JPMORGAN CHASE’S Mary Callahan Erdoes, Marianne Lake and Jennifer Piepszak are harbingers of change. See CHANGE on page 12

BUCK ENNIS See RENT REGS on page 4

P001_CN_20190617.indd 1 6/14/19 7:18 PM IN CASE YOU MISSED IT

History books DATA POINT Ride-hail cap mimics e Landmarks Preservation THE CENTER FOR AN URBAN Commission bestowed landmark system Uber sank status to the Strand Bookstore FUTURE REPORTED THAT TECH building in the East Village. e AND CREATIVE EMPLOYMENT LAST WEEK, WHEN MAYOR BILL DE BLASIO announced news comes to the dismay of that a ban on new ride-hail-vehicle licenses will be owner Nancy Bass Wyden, who IN BROOKLYN INCREASED extended for a second year, it was seen as a response to said the higher costs of xing 175% IN THE PAST DECADE— tra c congestion and a shot in the arm for drivers. and maintaining her building Before the cap, drivers were struggling to stay aoat in associated with the designation MORE THAN DOUBLE THE an ever-rising sea of vehicles ghting for fares. could kill her business. But the cap might give some drivers new nancial RATE IN MANHATTAN. worries. Stick a fork in it e moratorium could create an asset akin to taxi e iconic Four Seasons restau- medallions, which became expensive and tightly con- rant plated its last power lunch the 1990s, named Russell Granet

trolled until competition from Uber helped collapse BUCK ENNIS June 11. e 60-year-old eatery, president and CEO. e former their value. Vehicles with Taxi and Limousine Commis- which introduced its seasonal acting president of Lincoln Center sion licenses no longer must compete with new Brooklyn College and a part-time computer technician; menus to the United States in the takes over for Cora Cahan, who licensees. Licenses secured before the ban could be he drives Uber Black to make the additional money he 1950s, had been in the Seagram held those roles for 29 years. leased at exorbitant rates to drivers with no other way needs to support his wife and two children. Had the Building before losing its lease in to get one. mayor let the moratorium expire, Hussein could have 2016. Business did not recover Mad money Indeed, that might be happening already: Some eet obtained a TLC license for his personal vehicle, driven after it reopened last year at East Digital media company Maven of operators have raised their rates, with the increases it for Uber and stopped leasing the Inniti—saving 49th Street and Madison Avenue. Seattle bought eStreet for ranging from $25 to $50 per week, according to two enough to pay the $2,000 rent on his family’s home. $16.5 million. e nancial infor- drivers and a leasing company executive. “I am paying for a car I don’t need,” Hussein said, No. 1 on the Deuce mation company, co-founded by Making matters worse, some drivers now are paying adding that some weeks he has to dip into his savings. New 42nd Street, a nonprot that CNBC host Jim Cramer in 1996, for two cars at once: their personal car, not licensed for Uber and Lyft have temporarily stopped signing up helped restore theaters during the went public 20 years ago. use as a for-hire vehicle, and one with TLC plates they new drivers, because the more their drivers cruise revitalization of Times Square in — Chris Kobiella are leasing or renting to pick up fares. around without passengers, the more fare money the Uber driver Hussein (who didn’t want his last name companies must share with them, under a new used) is among them. He is leasing a 2019 Inniti QX60 minimum-wage rule. Still, about 1,000 drivers quit CORRECTION SUV with TLC plates for $560 per week, including insur- every month. When Uber and Lyft start on-boarding ■ There are 694 affordable apartments out of 2,775 units planned by three Lower East Side ance, while paying $680 per month for his 2018 Toyota again, and new drivers start looking for cars, the eets projects. The numbers were misstated in “Tower foes’ disregard for zoning laws is the height of Rav4. He’s a full-time computer science student at will be in charge. — Matthew Flamm irresponsibility,” published June 10.

Vol. 35, No. 24, June 17, 2019—Crain’s New York Business (ISSN 8756-789X) is published weekly, except for double issues Jan. 1, June 25, July 9, July 23, Aug. 6, Aug. 20 and Dec. 24, by Crain Communications Inc., 685 Third Ave., New York, NY 10017. Periodicals postage paid at New York, NY, and additional mailing of ces. Postmaster: Send address changes to: Crain’s New York Business, Circulation Department, PO Box 433279, Palm Coast, FL 32143-9681. For subscriber service: Call 877-824-9379. Fax 313-446-6777. $3.00 a copy, $99.95 one year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2019 by Crain Communications Inc. All rights reserved.

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2 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P002_CN_20190617.indd 2 6/14/19 6:12 PM TECH

THE BATTLE FOR BROADBAND Atop buildings and under streets, enterprising rms are bringing superfast internet to small businesses BY MATTHEW FLAMM BUCK ENNIS

ntil a couple of years ago, the nonpro t Cases, paying Spectrum cable $840 a month for 50-megabit service. A nesses wind up in areas that lack robust broadband infrastruc- which provides alternatives to incarceration, was xed-wireless provider—beaming microwave signals from a ture. paying $860 a month for 10 megabits-per-second rooftop—added bandwidth at both locations at the monthly “ e tra c kept going up, and the [service] could not keep broadband service delivered through a copper rate of about $700 for 100 megabits per second. abreast of it,” said Quinn Cushing, Cases’ chief technology cable to its Downtown Brooklyn headquarters. As the nonpro t continued to expand, it neared the point o cer. at kind of speed is enough to stream movies on Net ix but where it needed faster internet than it could a ord. at is an e organization eventually found a solution, and both lo- Unot enough to manage the group’s online databases, video increasingly familiar situation in the city, as employment in cations now boast Cadillac-level service at Honda prices: a conferencing and web-based training sessions. the outer boroughs grows faster than in Manhattan, Brooklyn At its Harlem location, Cases was doing only a little better, becomes a leading center for technology jobs, and more busi- See BROADBAND on page 6

POLITICS Queens DA race raises red ags for business Strong showing by Democratic socialist would empower AOC

BY WILL BREDDERMAN Amazon’s withdrawal—on its Ocasio-Cortez, and Borough Presi- Democratic boss Joseph Crowley heels again. dent Melinda Katz, a mainstream last June and the dislodging of other ill all of Queens succumb e June 25 Democratic primary Democrat backed by the party’s moderate Democrats in the fall. to the progressive tide? for Queens district attorney county organization. From mid-1991 until January of An election next week includes more than half a dozen “It’s the beginning of the second this year, the borough’s DA was willW test the strength of the leftist candidates, but business interests’ stage of anti-incumbent battles in Richard Brown, who died in May. wave that crashed over the bor- fates hinge on two: public defender New York—the new part of the revo- Like Crowley, Brown was a relic of a ough’s western shore last year Ti any Cabán, a Democratic lution,” veteran strategist Hank Queens dominated by white ethnic KATZ and could knock the business Socialists of America member Sheinkopf said, recalling Ocasio-

community—already reeling from endorsed by Rep. Alexandria Cortez’s ousting of former Queens See DA RACE on page 7 FLICKR

JUNE 17, 2019 | CRAIN’S NEW YORK BUSINESS | 3

P003_CN_20190617.indd 3 6/14/19 6:16 PM RENT REGS FROM PAGE 1

projects going forward in Miami, Atlanta, Nashville and other cities around the country. New York is closed for business.” And concerns are spreading around the real estate industry that other large developments could be stymied by the law, including by the Related Cos., one of the city’s most proli c builders. It is planning to raise thousands of rental apartments, including aordable units, in the coming years in the second phase of its Hudson Yards project on the West Side. Penciled out At issue is the way the new rent- regulation law aects a key tax break developers have insisted is crucial to the economics of large apartment projects in the city. Called Aordable New York, the vacated. Regulated-rent increases state program grants builders a connected to individual apartment

lucrative property-tax exemption in BUCK ENNIS improvements and major capital return for reserving up to 30% of a MAJOR DEVELOPERS, including Douglas Durst, say housing projects such as the one his rm is constructing at Hallets Point in improvements, which helped land- project’s square footage for aord- Astoria “can’t be built” under the new rent-regulation guidelines. lords nance apartment renova- able units. Developers who receive tions and building upgrades, have the incentive also must pay a pref- units, but those units would then be project’s market-rate units in their mand, but real estate investors say been substantially curtailed. erential wage to construction and subject to regulation, meaning nancial calculus to determine it essentially would saddle them To relieve the city’s aordability building workers for projects in landlords would be unable to raise whether a building is worth con- with a depreciating asset. crisis, it is crucial to build new sections of Manhattan, western the rents beyond what is allowed by structing. e new rent legislation “e costs of operating a building apartments in addition to preserv- Queens and northern Brooklyn. the Rent Guidelines Board, the takes a “wrecking ball” to that math, go up every year,” said Ofer Cohen, ing aordable units, housing But the program had allowed city agency that annually dictates John Banks, president of the Real president of the Brooklyn-focused experts say. at’s why some developers to charge whatever increases for regulated apartments. Estate Board of New York, said in a sales brokerage TerraCRG, “so it observers suggested the impact of Under Mayor Bill statement. becomes less and less pro table to the new rent regulations on the “WE’RE GOING TO BUILD de Blasio, who “As currently written, the new law own a building if you can’t mean- Aordable New York program might appoints the board’s would subject every unit to stabili- ingfully raise rents.” have been inadvertent and could IN ATLANTA, MIAMI AND voting members, zation, making their construction have been resolved before the law those increases nancially impossible,” Banks said. Rules of the regs change was signed by Gov. Andrew NASHVILLE. NEW YORK IS have been paltry “Some projects currently under e new laws dramatically Cuomo as expected last weekend. in recent years. construction may be halted and increase the price protections for “I would like to think that given CLOSED FOR BUSINESS” “e market units future ones never built. We are the city’s stock of nearly 1 million the opportunity to avoid this unin- would be perma- deeply concerned about exacerbat- regulated apartments. Luxury tended consequence, legislators renters would pay for the market- nently stabilized, and there’s no ing the aordability crisis in decontrol, a process by which an will see it’s much better to x it now rate units in a project and generally mechanism to remove them,” said the future if developers have no apartment can be converted to than have to try to clean it up gave builders leeway to raise the Daniel Bernstein, a real estate nancial incentive to produce more market rate if the regulated rent with further legislation,” Bernstein prices for those apartments in attorney with Rosenberg & Estis. aordable units for our growing and tenant’s income exceed certain said. “I know that such a x has future leases. Under the new rent “at’s a dierent deal than devel- population.” thresholds, has been scrapped. been discussed by members of the rules, developers still would be free opers had banked on.” It might not sound so dire to limit Also gone is a 20% increase that real estate community in recent to fetch as much as they can from Builders often count on reaping developers to collecting only the landlords could add to a regulated days in Albany. Now we’ll see what the initial lease for the market-rate future rent increases for a rental market rents they can initially com- apartment’s rent every time it was happens.” ■

REAL ESTATE Landlord lenders’ stocks fall INVITATION TO PREQUALIFY AND TO BID: UPDATED NOTICE Rehabilitation and Flood Mitigation of the New York Aquarium, Brooklyn, NY following rent-reform changes Turner Construction Company, an EEO Employer, is currently soliciting bids for the Rehabilitation and Flood Mitigation of the New York Aquarium from subcontractors and vendors for the following bid packages: Legislation expected to limit property owners’ income

BP # 3A General Labor BY AARON ELSTEIN according to Wedbush Securities. past 15 years,” Keefe, Bruyette & Only bids responsive to the entire scope of work will be considered and, to Analysts said a strong majority of Woods analysts wrote in a note to be successful, bidders must be prequalifi ed by Turner. Prove general labor hares in the leading banks for New York Community’s and Dime clients last week, adding that the clean up, minor demolition and Safety measures. Certifi ed M/WBE and city apartment landlords fell Community’s apartment loans are changes will “meaningfully limit Small Business (13 CFR part 121) companies are encouraged to submit. last week after the state Legis- to rent-regulated properties in the the growth and appreciating value Slature agreed Tuesday night on city. e banks don’t provide such of this asset class.” In order to receive the bid packages, potential bidders must submit a complete Subcontractor/Vendor Prequalifi cation Statement. Prior sweeping reforms to the rules cov- speci cs. at said, bankers and landlords prequalifi cation submissions that remain current will be considered as ering 1 million apartments. have anticipated for a while that previously submitted or may be updated at this time. All bidders must New York Community Bancorp, Less room for growth Albany would change the rules that prequalify by bid deadline, June 14th, 2019, is strongly encouraged. All the city’s leading multifamily- e pro-tenant rent reforms are govern rent-regulated apartments. bidders must have an acceptable EMR, and will be subject to government regulations such as 44 CFR and Federal Executive Order 11246. property lender, fell by 6%. Its stock expected to constrain the net oper- “Rent control is a risk, just like Successful bidders will be required to use LCP Tracker compliance had lost about 11% since mid-May ating income generated by proper- climate change,” Mark Parrell, verifi cation software. Note that while this is a New York City prevailing wage as proposed revisions to rent regu- ties. Over time that eect on their president and chief executive of project, union affi liation is not required. lation gained steam. NOI could erode the properties’ property owner Equity Residential, Signature Bank shares lost 4%, value, which in turn could slow the said in a conference call this To obtain further information about contracting opportunities and/or the and Dime Community Bancshares, torrid loan growth that lenders to year. “We’ve managed that risk prequalifi cation package and bid solicitation package/s, please contact Macarena Bermudez ([email protected] or 212-229-6000.) Flushing Financial and Investors such properties have enjoyed for very well.” Bancorp also lost ground. many years. Domenick Cama, president of All bids will be publicly opened at offi ce of the Purchasing Department, ose banks have pro ted in the Albany’s reforms, which Gov. Investors Bancorp, told investors Bronx Zoo, 2300 Southern Boulevard, Bronx New York, on June 17th, 2019 past decade by sur ng the ever- Andrew Cuomo has pledged to this year: “We don’t anticipate at 11 am. rising real estate wave. At Signature sign, “certainly mark a very sharp declines in NOI going forward, just Bank, New York apartments and disappointing dierence to the a deceleration of the increases in account for about 42% of all loans, operating environment from the potential NOI going forward.” ■

4 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P004_CN_20190617.indd 4 6/14/19 7:08 PM CN019191.indd 1 ey.com/consulting the better with technology solutions from Navigate Transformative the Age qgmjÔf_]jlahk7 at ecosystem of the technology taking advantage How are you - connected consultants.

6/6/19 6:17 PM © 2019 EYGM Limited. All Rights Reserved. ED 0818. administration report last year, 44% less-dense customer base reduces BROADBAND of small businesses in the ve bor- economies of scale. FROM PAGE 3 oughs have no access to gigabit- Stealth and Skywire have had speed broadband. help expanding. e 2015 city pro- ber-optic circuit providing dedi- Because of historical circum- gram Connect IBZ provided infra- cated 1-gigabit-per-second broad- stances that make some parts of the structure grants in industrial busi- band for around $850 a month— city easier to wire than others, ness zones to both companies. less than half of what most large Stealth’s network is growing at an Skywire, known at the time as providers charge. uneven pace. And there are places, Xchange, expanded to Williams- Its salvation was not a special dis- such as Long Island City, that Pandit burg and Long Island City; Stealth count from the big telecoms nor a bypasses entirely because the eco- began a network on a stretch of government program but a self- nomics of laying ber there makes ird Avenue in Brooklyn that it taught high school dropout and his no sense. continues to build out. small, Manhattan-based company. But despite the obstacles, the Both companies would like to see Shrihari Pandit founded Stealth company is nding opportunity in more programs of that kind. Communications in 1995 to provide bringing broadband to neighbor- Some initiatives are underway. In internet services for Manhattan of- hoods outside of the city’s core. As December the Mayor’s Oce of the Stealth moves into Chief Technology Ocer asked pro- “THE SOUTH BRONX FEELS the South Bronx, for viders to submit ideas for using city example, Pandit resources to bring broadband to LIKE RURAL AMERICA sees something akin East New York. And a master plan to virgin territory. on broadband infrastructure, due FOR BROADBAND” “It feels like rural later this year, could give the city a America for broad- map for investment.

ces. Six years ago, after obtaining a band,” he said. “Our goal is to bring BUCK ENNIS “e business broadband market telecommunications contract from 100-megabit and gigabit service UNDERGROUND ECONOMY: Pandit says laying cable in Long Island City might cost is traditionally demand-driven,” the city, he began laying ber-optic into digital deserts.” $200 to $400 per linear foot but only $15 using Verizon’s conduit in Manhattan. said Joshua Breitbart, the city’s dep- cable in the street. His underground uty chief technology ocer. “ey ber network now stretches more Fiber options One is to thread conduits and 100 customers at a time without the don’t say, ‘is is where nobody is than 80 miles. Pandit taught himself program- make ber installations using an in- usual installation of routing equip- being served—let’s go build there.’ In the past two years, Pandit has ming as a teenager before he left the house team. Another has been to ment in each building. at’s not something the private been extending his network into East Side’s High School of the Fu- develop a ber-optic transmission And nally, Stealth worked its market is really equipped to solve neighborhoods such as Harlem, ture at 16 to launch Stealth. He has system that assigns a “unique color way through Harlem and is expand- on its own, particularly in areas Washington Heights and the South designed key parts of Stealth’s tech- of light” to each customer, he said. ing in the South Bronx using the where they face very real engineer- Bronx, where the economy has nology himself and has found sev- at lets Stealth use a single strand conduit system built by Empire City ing and construction challenges.” grown faster than their broadband eral ways to keep prices aordable of ber to provide dedicated Subway. e company was founded Pandit would, however, like to see choices. According to a de Blasio to small businesses and nonpro ts. 10-gigabit capacity to as many as in 1891 to provide an underground the public sector intercede in the home for the city’s telegram and outer boroughs and require Verizon telegraph lines. to be more cooperative in allowing Reaching from Manhattan into use of its conduits. the Bronx, ECS is maintained as a He got a glimpse of what that SAVE THE DATE subsidiary of Verizon, and—unlike could be like in 2015, when Veri- the conduits Verizon owns in zon’s then-vice president of nation- Brooklyn, Queens and Staten Is- al operations worked out an ar- TH land—is available for use by fran- rangement to let him use the 27 ANNUAL chisees, thanks to the century-old company’s outer-borough conduits agreement with the city authorizing without going through the usual PARKER JEWISH INSTITUTE FOUNDATION it. ECS conduits are sometimes permission process, which Pandit clogged by ber-optic cables left describes as arduous and time-con- over from the dot-com boom, but suming. Verizon also requires pro- using them is still far cheaper than viders to let its contractors do the digging up a street and putting in ductwork, adding to costs. ducts from scratch. But before Stealth could even set “If we had to do this in Long Is- foot in the system, the Verizon o- land City, it would be between $200 cial left for Google Fiber, and the GOLF and $400 per linear foot,” Pandit telecom giant terminated the agree- said. “Doing it through ECS, it might ment. be 15 bucks a foot.” Pandit said working with Verizon It takes about a week for Pandit to is so unpredictable and expensive CLASSIC lay 1 mile of ber using the system’s that it’s cheaper and faster to dig his conduits. If Stealth has to dig, it own conduit. MONDAY, AUGUST 5, 2019 takes at least that long to go a single “ey never disclose all their pro- block. cedural rules, so you never know what you’re getting into,” he said. Beaming from above “e sad part is Verizon has a con- Fiber is far from the only way to duit system by the Brooklyn Navy bring premium broadband to un- Yard,” where Stealth is extending its derserved neighborhoods. In the network. “But it’s still cheaper for us outer boroughs, xed wireless to build our own.” makes more sense, its proponents Verizon denies that it is hard to say, because it needs only a ber- work with. connected tall building to beam mi- e company makes its conduit crowaves down to smaller buildings system in Brooklyn and Queens “ac- around it. cessible to quali ed third parties, at is faster and less costly than consistent with applicable regula- GLEN OAKS CLUB, OLD WESTBURY digging up streets, said Alan Levy, tions,” a spokesman said. “We have chief executive of Skywire Networks, actually far exceeded requirements which provides xed-wireless ser- in making the conduits accessible.” HONOREE ERIC P. SIMON vice to 650 buildings in Manhattan, Any rule change governing access PRINCIPAL, JACKSON LEWIS P.C. Brooklyn and Queens. to the conduits would need to be Skywire recently built two hubs made at the state level, via the Pub- on rooftops in the Bronx. lic Service Commission. WWW.PARKERINSTITUTE.ORG “As you start moving out [of Man- For now, businesses in transition- [email protected] hattan], you’re not going to get the ing neighborhoods can only wait. return on investment that’s needed “It’s a slow evolution,” said John 718-289-2143 to deliver the ber, particularly if Meko, director of engineering, you’re not using ECS conduits,” North America, at WiredScore, Levy said. which rates buildings’ broadband PETER SEIDEMAN MICHAEL N. ROSENBLUT Skywire can provide dedicated infrastructure. “e rst tenants are CHAIRMAN, BOARD OF TRUSTEES PRESIDENT AND CEO gigabit service for around $1,000 a going to pay more to justify the cost month in Manhattan and $1,300 in [of installation]. And you don’t have Brooklyn and Queens, where the much negotiating power.” ■

6 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P006_CN_20190617.indd 6 6/14/19 6:35 PM DA campaign came from major able if they fail to follow the and the business-friendly succes- attorneys work from the court sys- DA RACE property interests. (Cabán’s big- law and keep their workers safe,” sor to Crowley as Queens Demo- tem. But his home district covers FROM PAGE 3 gest contributor was Patricia Ann her website reads. cratic Party leader. In a recent the predominantly black and Quillin, the wife of Netix CEO Should Cabán win, attacks on interview, Meeks explicitly homeowner-heavy areas of south- homeowners preoccupied by street Reed Hastings.) Nonetheless, anti- real estate likely would intensify, rejected socialism and declared eastern Queens, which multiple and property crime. (Although development populism has and campaign donations from himself “a capitalist.” And he was sources identi ed as the battle- Brown was a Democrat, his death proved too infectious even for the sector would become increas- one of the few House Democrats to ground of the DA race, and Meeks drew a Twitter tribute from former ingly toxic. Moreover, aggressively support the Trans maintains close ties to politically Mayor Rudy Giuliani.) “IT’S A DIFFICULT TIME Sheinkopf said, a win Paci c Partnership, a major free- powerful local churches. Cabán is very much of the new by Cabán would crown trade deal, in the waning years of at might be enough to deliver Queens. A native of immigrant-rich TO BE A POLITICAL Ocasio-Cortez the the Obama administration. He the election for Katz. But South Richmond Hill, she draws her city’s chief political also has opposed proposals by fel- Sheinkopf said that even if Cabán strongest support from the largely ESTABLISHMENT FIGURE” kingmaker, giving the low Democrats, such as Massa- loses, it is likely too late to stop white creative class that has gentri- congresswoman a key chusetts Sen. Elizabeth Warren, to New York’s leftward trend or to ed such enclaves as Astoria and Katz to resist: As a candidate, she role in selecting the next mayor, break up tech giants. slow Ocasio-Cortez’s political Sunnyside—the same people who has vowed to investigate every governor and future U.S. senators. momentum. elected Ocasio-Cortez last year and workplace mishap resulting in a Rhetoric against real estate would Gearing up “AOC’s not in the legislative then fought o the planned Ama- severe injury and to force contrac- increasingly harden into policy. e political apparatus Meeks business. She’s in the social- zon campus in Long Island City. tors to surrender their licenses. A Cabán victory also would inherited from Crowley is a sleepy, movement business,” the strate- Each candidate has promised a “Developers and construction undercut the clout of U.S. Rep. complacent operation geared gist said. “It’s not a good time to be softer touch for low-level oenders, companies will be held account- Gregory Meeks, a Katz supporter toward getting politically wired an establishment gure.” ■ but Cabán has gone furthest. She favors the decriminalization of sex work, the non-prosecution of drug and quality-of-life infractions, and even a “holistic, trauma- informed approach” instead of incarceration for violent criminals. She would focus the DA’s oce on white-collar lawbreakers, especially landlords who violate tenant protections, employers who under- pay or mistreat workers and doctors who overprescribe opioids. Bellwether Such plans on their own might perturb physicians, shopkeepers, property owners and construction contractors in Queens. But Cabán’s attacks on Katz could have rami - cations for the entire city, pushing politicians to oppose development and support worker-friendly moves including mandatory paid time o. In a video ad this month Cabán slammed Katz and her backers in the Queens Democratic Party for receiving “millions” in donations from real estate interests. e left- wing Working Families Party echoed the assertions in an email to supporters, warning that “corporate interests and real estate developers” were attending a fund- raiser that Gov. Andrew Cuomo held for the borough president. at tack recalls Ocasio-Cortez’s attacks on Crowley for taking contributions from developers, and escalating attacks on the Real Estate Board of New York from Mayor Bill de Blasio and other ambitious Democrats. Sheinkopf deemed it an appeal based on emotion and identity rather than substance—and extremely eective. “It is what REBNY represents, New York’s Skyline Relies rather than REBNY itself. Nobody even knows what ‘REBNY’ means,” he said. “Real estate—more than on a Firm Foundation... and nance—has become the great enemy of the people, because it’s the best target that politicians GCA’s Union Members. have. It’s hard to get people angry at a mutual fund manager, but everybody gets angry at their From the Empire State Building to One Vanderbilt, GCA members built landlord.” the infrastructure on which the world’s most valueable real estate rests. As an assemblywoman in the 1990s and 2000s, Katz was a reli- Union members is New York’s other bedrock. Not non-union. able left-of-center Democrat who championed women’s access to reproductive health care. But in gcany.com the City Council during the 2000s she chaired the powerful Commit- tee on Land Use and oversaw rezonings across the city, including controversial changes in northern Brooklyn. An analysis by e City found a quarter of contributions to Katz’s

JUNE 17, 2019 | CRAIN’S NEW YORK BUSINESS | 7

P007_CN_20190617.indd 7 6/14/19 1:32 PM VIEWPOINTS president K.C. Crain senior executive vice president Chris Crain group publisher Mary Kramer

EDITORIAL EDITORIAL managing editor Brendan O’Connor assistant managing editors Erik Engquist, Blind allegiance to tenant lobby Jeanhee Kim senior editor Telisha Bryan art director Carolyn McClain brings lawmakers to new low photographer Buck Ennis digital editor Gabriella Iannetta data editor Gerald Schifman lbany was famously passed. His gambit pushed them senior reporters Aaron Elstein, called a sausage to reach a deal before the rent Matthew Flamm, Daniel Geiger factory decades ago, laws expired, but his goal was reporters Will Bredderman, but that is too kind a optics, not e cacy. e practical Jennifer Henderson, Jonathan LaMantia term. It is accurate in e ects of a brief expiration are nil, digital reporter Ryan Deffenbaugh that state lawmakers, like meat but the rami cations of a awed digital fellow Lizeth Beltran Aprocessors, don’t want the public law are many. e deal locks a columnist Greg David to see the often ugly ways their million apartments into rent contributors Tom Acitelli, Cara Eisenpress, products are made. But the regulation forever, maintains their Cheryl S. Grant, Yoona Ha, Chris Kobiella, analogy falls short in that sausage, random and inequitable distribu- Miriam Kreinin Souccar unlike state legislation, tends to tion, and discourages the con- to contact the newsroom: taste pretty good. struction of rentals badly needed www.crainsnewyork.com/staff Last week New Yorkers were to alleviate the housing shortage. 212.210.0100 served up a rent-regulation deal With so much attention focused 685 Third Ave., New York, NY 10017-4024 hastily and opaquely completed on the bill, which deters repairs ADVERTISING without a single public hearing. and allows even millionaires to www.crainsnewyork.com/advertise Setting aside that the very premise pay sweetheart rents in perpetu- senior account managers Rob Pierce, of rent regulation is awed, the ity, few noticed the passage of Stuart Smilowitz, Tori Weil revised law is certain to have another state bill favoring tenants integrated marketing manager Jonathan Yan, signi cant unintended conse- of any income. is one lets them 212.210.0290, [email protected] pay no rent at associate art director/marketing ONE BILL MAKES RENT CHEAP all. Charles Fontanilla, 212.210.0145 We refer to [email protected] account executive Devin Cavallo,

an expansion GETTY IMAGES FOREVER. ANOTHER MAKES IT 212.210.0701, [email protected] of the Loft people on the move manager Debora Stein, Law, a 1982 by dragging out cases for years. responders. But rather than x the FREE FOR YEARS [email protected] statute aimed One landlord trapped in this law, state Democrats, who remain quences—most likely harming at making industrial buildings safe Kafkaesque nightmare has been abjectly subservient to the tenant CUSTOM CONTENT future tenants more than anyone. for residents living there illegally. racking up legal bills while 14 of lobby, voted to expand the director of custom content To rush through a sweeping e original measure let tenants in his 17 tenants withhold rent. program and allow more tenants Patty Oppenheimer, 212.210.0711, overhaul of an important and hundreds of buildings live Asked why even three pay, he said, to exploit it. [email protected] complex system with minimal rent-free in violation of health and “Some people have moral ber.” e good news is that Cuomo— senior custom project manager Danielle Brody, [email protected] vetting is political malpractice, to safety codes until the landlord e Loft Law incentivizes unlike with the rent bill—did not use a term wielded at congressio- brought the property into terrible behavior, triggers blindly pledge to sign whatever EVENTS nal Republicans by Gov. Andrew compliance. Of course that litigation that takes years and they served up. Absent his veto, www.crainsnewyork.com/events Cuomo. Yet he vowed to sign encouraged many tenants to block costs millions of dollars, and this rotten piece of meat is sure to director of conferences & events whatever bill state Democrats the requisite renovation projects endangers tenants and rst make New Yorkers sick. Courtney Williams, 212.210.0257, ■ [email protected] manager of conferences & events ON NEW YORK Ana Jimenez, ajimenez@crainsnewyork AUDIENCE DEVELOPMENT group director, audience development Rent reform creates the next NYCHA Jennifer Mosley, [email protected] REPRINTS Disinvestment and other outcomes of the new regulation system director, reprints & licensing Lauren Melesio, 212.210.0707, [email protected] PRODUCTION tate Democrats’ sweeping because money wasn’t available to Some people are already talking become subject to rent laws. production and pre-press director overhaul of rent-regulation maintain it. By sharply reducing a about conversions again. What will happen in the rest of the Simone Pryce laws does away with incen- landlord’s ability to recoup money e drafters of the new law state? media services manager Nicole Spell tives in place for more than spent on repairs and improve- anticipated this outcome and have Localities statewide can now SUBSCRIPTION CUSTOMER SERVICE 20 years to encourage ments, the new law will made conversions more di cult impose rent regulation if their S www.crainsnewyork.com/subscribe investment in housing. bring investment in by increasing to 51% the number vacancy rate is below 5%. At the [email protected] Some people say the existing housing stock of units that must be sold before a moment, tenant groups do not 877.824.9379 (in the U.S. and Canada). changes could have been to a screeching halt. building can convert (it had been appear to have the clout to get that $3.00 a copy for the print edition; or $99.95 worse for real estate. Not is isn’t a matter of 15%, and the buyers could be out- done, but the real estate industry is one year, $179.95 two years, for print true. Just look at the list of choice but economics. side investors). Still, it is sure to be vulnerable if it remains fractured. subscriptions with digital access. reforms: ending regula- Of course, the resulting one strategy landlords adopt. How will the industry respond tion of apartments when deterioration will not Will construction of market-rate politically? Entire contents ©copyright 2019 they exceed a speci c (and show up for years. But housing be affected? City real estate interests pro- Crain Communications Inc. All rights reserved. ©CityBusiness is a registered eventually the cost to Yes. e bill eliminated a provi- tected themselves by donating to high) rent, ending rent trademark of MCP Inc., used under license bonuses when apartments the city will be steep. sion of the new 421-a law that Republicans in the state Senate agreement. become vacant, prevent- GREG DAVID How will landlords deregulated units in new buildings and to members of the Senate’s ing signi cant increases react to the end of when their rent exceeded the Independent Democratic caucus. CRAIN COMMUNICATIONS INC. after landlords rent apartments for vacancy bonuses and decontrol? decontrol threshold. Now they will en voters obliterated the IDC chairman Keith E. Crain less than the allowable rent, sharply In the 1980s, when we had a remain regulated, even though and handed control of the Senate vice chairman Mary Kay Crain limiting owners’ ability to raise rents rent-regulation system much like they originally rented at market to mainline Democrats. at left president K.C. Crain to fund repairs and improvements, the one just created, landlords prices, until the tax break ends. six Long Island Democratic sena- senior executive vice president Chris Crain and opening the door to extending reacted by converting buildings to Some developers are already tors representing swing districts. secretary Lexie Crain Armstrong the city’s rent system to localities co-ops and condos. ey usually reconsidering projects. Democrats e industry could try to defeat editor-in-chief emeritus Rance Crain chief nancial of cer Robert Recchia elsewhere in the state. needed to upgrade the buildings to didn’t enact universal rent regula- them. But given that the rent revi- Here are ve questions raised by make them attractive. Tenants tion or require landlords to have sions can be changed only by new founder G.D. Crain Jr. [1885-1973] the reforms and ve likely answers. received an often-steep discount to “just cause” to not renew a lease, legislation and the Democratic chairman Mrs. G.D. Crain Jr. [1911-1996] Did we create the next NYCHA? market value and made a tidy bun- but the fact that those options were Assembly will protect them, there e answer is almost certainly dle when they sold, and landlords considered will give builders pause might be no e ective political yes. Public housing is falling apart made money too. A win-win-win. about doing projects that could response. ■

8 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P008_CN_20190617.indd 8 6/14/19 7:17 PM OP-ED LETTER TO THE EDITOR Why a bus is no bargain One overlooked reason Streetcars are the only option for Brooklyn-Queens waterfront health care is so expensive

BY HARRIS SCHECHTMAN BQX OR BUST: Only modern streetcars AS NEW YORK HEALTH INSURERS have already su ered enough. can handle the passenger volumes, seek higher rates (“Health insurers TOM STEBBINS s I read about last month’s narrow streets and tight turns along the request 8.4% average rate hike,” Executive director City Council hearing on the proposed route. CrainsNewYork.com), New Yorkers Lawsuit Reform Alliance of New York Brooklyn-Queens Connec- should be aware that the price Ator, the modern streetcar planned of medical professional liability to run 11 miles from Gowanus to insurance is a hidden driver of Astoria, I noticed that a question these costs. For certain specialties, kept popping up in the coverage: including OB-GYN, medical Why not a bus instead? liability insurance costs are the It’s understandable that critics of highest in the country. Sadly, the BQX might pose it. Buses sound legislators in Albany are on the

like a simple way to save money, BQX.NYC cusp of making it much worse. avoid a dramatic restructuring of New York already has the streets away from private-car use SBS). ey’ve cited how much operated and advocated for our bus highest medical liability payouts and deliver the same bene ts for the cheaper that is, omitting the infra- network for more than 50 years, I per capita and the highest total of CUOMO

nearly 400,000 residents and 300,000 structure investments necessary for can say that buses cannot be the such payouts in the country, an BLOOMBERG NEWS workers along the route. It’s a higher speed and reliability. answer for the rapidly expanding, amount that totaled $685.3 million tempting and digestible argument. ey ignore history, though. For underserved Brooklyn-Queens last year. Not surprisingly, New ACT NOW ON CLIMATE But when you dig deeper, it some 60 years, NYC Transit ran waterfront corridor. York was ranked this year as the Gov. Andrew Cuomo stands to becomes clear that if improved buses over a similar route. e B-61 is is not about nostalgia to worst state for doctors to practice, leave a burnished legacy of climate transit is the goal, running a bus took as long as 90 minutes, averag- bring back the trolley. My rm was with professional liability insur- protection in New York, but only if instead of a streetcar along the ing 6 miles per hour end-to-end. a key player in the successful design ance costs listed as a contributing he, Assembly Speaker Carl Heastie route makes no sense. And that was on paper. In reality, and implementation of the rst ve factor. and Senate Majority Leader Andrea As a former general manager and frequent delays led to bunching, SBS routes in the city. Generally, e state’s pro-lawsuit statutes, Stewart-Cousins can get their head of operations planning and service gaps and unbearably slow those run along straight, wide corri- driven by the personal-injury bar’s collective act together and agree schedules for New York City buses, trips that chased riders away. In dors, not the narrow streets and in uence in Albany, are the prime on the Climate and Community I’m intimately familiar with what response, NYC Transit split it into tight turns of the Brooklyn-Queens culprits. e lawyer lobby has Protection Act (“Marijuana and works for a bus route and what two shorter routes. Why repeat that waterfront. Streetcars can bene t successfully persuaded lawmakers climate legislation won’t pass, doesn’t. My rm did the original failure with another bus? from the precision of a track road- to resist reforming the state’s Cuomo says,” CrainsNewYork.com). alternatives analysis, feasibility Critics overlook that even the bed that buses can’t match, and the standards for expert evidence and e CCPA is bold in time line study and conceptual design for highest-capacity bus that could be impact on neighborhood tra c will recently pushed them to lift the and goals, calling for 100% Friends of the BQX during the early used could transport only half as be minimized. statute of limitations in certain reduction in anthropocentric stages of the streetcar idea. We many passengers as the BQX’s pro- We have advocated for bus rapid cases. And now, at the behest greenhouse gas emissions by 2050, studied bus service in the corridor. posed modern streetcars. at transit in lieu of streetcars where of this powerful special interest, and codi es a commitment to a Our conclusion: e waterfront means higher operating costs, but conditions favor it, but BRT cannot the state Legislature is advancing 50% renewable electric sector by corridor plan was feasible but only the bigger problem is that buses be e ective along the Brooklyn- another bill, which would allow 2030. Of state mitigation funding, with the higher passenger capacity would have to run every minute or Queens waterfront. No bus will be a for subjective pain-and-su ering 40% would be directed to low- that a modern streetcar could pro- two to meet passenger demand. bargain if it can’t deliver the speed, payouts in medical cases involving income communities, which vide. is was based on projected Tra c signals, variations in load- reliability, accessibility and oppor- wrongful-death claims. An analysis already have been disproportion- daily ridership of up to 60,000 on ing and other issues would guaran- tunity that the BQX can. from actuarial rm Milliman ately a ected by pollution. Day One, rising to 90,000 in the next tee that buses quickly would e way to deliver transformative found that medical liability e U.N. tells us we have less few decades—higher than any city become bunched and irregular on transit service here is with a modern premiums would increase by 47% than 12 years to act to prevent bus route and likely the highest of almost every trip. Without the abil- streetcar. Buses just won’t cut it. ■ if this bill is enacted. irreversible climate damage. Ten any streetcar in the country. ity to run reliably and smoothly, the State lawmakers must reject this days should be plenty to work out From the outset, critics have service would fail from the get-go. Harris Schechtman is principal legislation lest they further drive the current Albany logjam. questioned why it could not be bus As a lifelong New Yorker who has and national director of transit up the cost of health care. New LAURIE JOAN ARON rapid transit (or, in New York lingo, planned, scheduled, studied, at Sam Schwartz Engineering. York’s doctors and their patients Manhattan

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JUNE 17, 2019 | CRAIN’S NEW YORK BUSINESS | 9

P009_CN_20190617.indd 9 6/14/19 1:56 PM THE LIST LARGEST HOSPITALS New York–area institutions ranked by 2018 operating expenses

¡ ¡ ¡¡¡¢¡ ¡ ¡ £¡¡ A80BC &@C4BC0 2GASPPW5S9B6XSRc!VSSI28 "FGCDCbCAYXG`C WXSRc@VSSIQCBGAGRCCBY WANT MORE OF CRAIN’S EXCLUSIVE DATA? VISIT CRAINSNEWYORK.COM/LISTS. C98HA9950)4(480 &A5 @&AC& 4VSWTCAX `C'9AICRW9AI2) 4VCWGBCRX F9AICRW9AIYQASVE &(508B&(50A4)4&80&6C3 938 96648B %GVWX6X1GRCSP928 4VCWGBCRXAFGCDCbCAYXG`C aGRXFVSTSVE $"&829800&6C3 466 &67&8 $XF6X2Ca8SVI28 $bCAYXG`CBGVCAXSV RSVXFaCPPCBY `G CHEERS TO WOMEN IN BUSINESS 9AC3F0660&6C3 0880C3 4''B XF `C!VSSIPcR28 4VCWGBCRXAFGCDCbCAYXG`C Q9GQSRGBCWQCBSVE 8)0@08)08C JPMorgan Chase is committed to the empowerment and advance- ment of women, both inside and outside of our ﬁrm. We’re Mary Callahan Erdoes Marianne Lake Jennifer Piepszak proud to have so many talented women leading our company. Congratulations to our very own Mary Callahan Erdoes, Marianne Lake and Jennifer Piepszak, along with the other Crain’s Most Powerful Women on their well-deserved recognition. For more information on our women-focused initiatives, visit jpmorganchase.com/wotm. © 2019 JPMorgan Chase & Co.

10 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P010_P011_CN_20190617.indd 10 6/14/19 12:53 PM

JUNE 17, 2019 | CRAIN’S NEW YORK BUSINESS | 11

P010_P011_CN_20190617.indd 11 6/14/19 12:54 PM HE CRAIN’S 2019 LIST is a dynamic representation of the breadth and depth of power held by women in New York. TEven a short while ago, women wield- ing real power in their profession were few and far between. But this year there is a remarkable clustering of women in top positions in major sectors of the city’s economy: Banking, media—particularly news media—and even the stock exchanges have multiple female leaders. Read on and celebrate progress! VIRGINIA ROMETTY Chairwoman, president and CEO, IBM IBM 2018 REVENUE $79.6 billion NYC IMPACT Member of the board of overseers and managers of Memorial Sloan-Kettering Cancer Center VIRGINIA ROMETTY, 61, is in the process of scooping up Red Hat, an open- # source cloud software distributor, for a cool $34 billion in IBM’s largest 1 acquisition and the third-biggest ever 2017 RANK: 2 in U.S. tech. It’s her latest move to drive growth as IBM, the world’s sixth- largest tech company, faces o against Amazon, Google and other competitors in a cloud-computing market expected to grow to more than $600 billion by 2023. In her seven years at the helm of the tech giant, Rometty has been dogged by sagging revenues as she’s unloaded traditional, low-margin businesses and made big bets on cognitive computing, arti cial intelligence and blockchain, cybersecurity and quantum technologies. Cloud computing was a bright spot in the rst quarter, with revenue up 10%. On the human side of the tech business, Rometty has used her in uence to ease the path for women getting back into the workforce with IBM’s “returnship” program. She is helping students prepare for tech careers with the company’s Pathways in Technology Early College High School program. P-TECH is now in operation globally at more than 120 schools. — JUDITH MESSINA

“We are in a really unique CEO, Jamie Dimon, retires. To date, cases leading to the promotion of a known as AOC (No. 14), were part CHANGE moment of time in the history of the major U.S. banks have been led woman—including our No. 11, of a diverse wave of women swept FROM PAGE 1 women’s movement,” said Lorraine exclusively by men. Suzanne Scott, appointed CEO of into the halls of power during the Hariton, president and CEO of Cat- Research has shown that diverse Fox News to replace the disgraced 2018 elections. Women have run for o ce in record alyst, a Manhattan nonpro t that is organizations outperform others, Roger Ailes, and No. 13, Susan Zirin- Still, there’s a long way to go numbers—and won. And new state focused on advancing women in and investors and boards are pay- sky, who took over the reins of CBS before women share power equally laws increasing the minimum wage the workplace. “We have more ing attention. Millennial and Gen Z News in the wake of management with their male counterparts. e and establishing family-leave poli- momentum now than at any time workers are causing corporate cul- changes after network chief Les trail blazing 33 female CEOs in the cies are creating work environ- since the 1960s and early ’70s.” tures to shift. And #MeToo has Moonves was forced out last year. Fortune 500, for example, represent ments more supportive of women. Our No. 2 spot this year—shared raised awareness about uneven dis- Both are the rst women to lead only 6.6% of the total. And women One barometer of progress—the by three JPMorgan Chase execu- tribution of power, jolting bureau- their respective news organization. of color are sorely underrepre- number of female CEOs in the For- tives, Mary Callahan Erdoes, Mari- cracies into action, Hariton said. In another sign of tumult, almost sented—just as they are on our list. tune 500—just bounced back to anne Lake and Jennifer Piepszak—is half our Most Powerful Women are But as Hariton, who received a reach a record high after a 25% drop an especially potent sign. ere’s a Powerful debuts new to the list. Some, like state Sen- degree in computer science from last year. e gain was partly driven good chance that the nation’s larg- Progress can be messy. More than ate Majority Leader Andrea Stanford University in the 1970s by the in uence of women in cor- est bank, with $2.7 trillion in assets, 200 male executives were toppled Stewart-Cousins (No. 4), state before going on to Harvard Busi- porate governance, who now make will elevate one of them to the top by sexual harassment allegations Attorney General Letitia James ness School, emphasized, “Change up 22% of board members. post when its current chairman and during the past two years, in many (No. 10) and the congresswoman happens nonlinearly.” ■

12 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P012_CN_20190617.indd 12 6/14/19 2:09 PM HEALTHIER FUTURES

As one of the nation’s largest non-proﬁt health insurers, EmblemHealth is committed to creating healthier futures for our customers, our communities, and for the health care industry in New York and beyond.

TRANSFORMATIONAL LEADERSHIP

Congratulations to EmblemHealth President & CEO Karen Ignagni on being recognized as an industry-deﬁning leader and one of Crain’s 50 most powerful women in New York.

CN019203.indd 1 6/12/19 12:18 PM CRAIN’S MOST POWERFUL WOMEN IN NEW YORK On the verge Three women at JPMorgan Chase are poised to break one of the business world’s last glass ceilings

THERE NEVER has been a female chief of a major U.S. bank. But the odds of that changing just got a lot better. JPMorgan Chase in April announced a reshuf ing that gave new roles to two of its female executives: Marianne Lake and Jennifer Piepszak. The positions are seen as offering them the chance to burnish their quali cations to be CEO. Also mentioned for years in the context of succession is Mary Callahan Erdoes, who has run the bank’s lucrative asset- management unit for a decade. Jamie Dimon, the bank’s chief executive since 2006, said he MARY ANN expects to stay on for four or ve more years. In that time, eyes will be on Erdoes, Lake and Piepszak as the opportunity for them to break one of the last glass ceilings in U.S. business TIGHE draws closer. For that reason, the trio share the No. 2 spot on this list. — AMY CORTESE

BUCK ENNIS CEO, tristate region, CBRE CBRE 2018 REVENUE $21.3 billion NYC IMPACT Co-chairwoman, MARY MARIANNE JENNIFER Metropolitan Museum of Art business committee; vice chair- CALLAHAN ERDOES LAKE PIEPSZAK woman, Columbia University Real Estate Development Advisory CEO, asset and wealth management, JPMorgan Chase CEO, consumer lending, JPMorgan Chase CFO, JPMorgan Chase Board; trustee, St. Patrick’s 2018 REVENUE $14.1 billion JPMORGAN TOTAL 2018 REVENUE $111.5 billion 2018 REVENUE $52 billion (consumer and community Cathedral and the Archdiocese of NYC IMPACT Board member, Robin Hood and the U.S. Fund NYC IMPACT Board member, New York City Ballet banking, including credit cards) New York; board member, Inner- for UNICEF; member, Investor Advisory Committee on NYC IMPACT Board member, United Way of New York City City Scholarship Fund Financial Markets at the Federal Reserve Bank of New York WITH THE announcement JENNIFER PIEPSZAK’S WHEN MARY ANN TIGHE AS CHIEF # that Marianne high-pro le new speaks, big tenants of Chase’s Lake, 49, # job as JPMorgan’s # listen. # giant asset- 2 would nance chief, After helping the 2017 management take over 2 reporting to CEO 5 Financial District regain RANK: 7 NEW 2017 2 unit, which JPMorgan’s Jamie Dimon, relevance nearly a 2015 RANK: 3 RANK: 4 serves consumer- lands her a spot decade ago, Tighe, 70, wealthy lending business— on Crain’s Most is now refortifying the individuals e ectively swapping Powerful Women list for neighborhood after attention as well as some of the jobs with Jennifer the rst time. shifted in recent years to the shiny world’s largest pension Piepszak, who succeeds e position, which new o ce towers in Hudson Yards. funds and sovereign her as CFO—the U.K. became e ective May 1, Two years ago Tighe brought wealth funds, Mary native is poised to gain the also comes with a spot on Spotify to 4 World Trade Center, Callahan Erdoes, 52, runs kind of operating experience that could help catapult her JPMorgan’s 11-member where it eventually grew into the a business that would to the very top of the rm. Lake has long been mentioned operating committee. building’s largest private-sector qualify as a Fortune 500 company in its own right, with as a potential successor to JPMorgan CEO Jamie Dimon, During her two and a half decades at the bank, Piepszak, tenant. As one of the lead deal- 25,000 employees and 2,865 wealth advisers. who has called her a “trusted partner.” 49, has proved herself in a variety of roles, from investment makers working to ll the neigh- Since taking the job in 2009, she grew assets under In her rst operational role, Lake will report to banking to consumer banking. After running Chase Business boring 80-story tower at 3 WTC, management to a record $2.8 trillion, although the Co-president Gordon Smith as she runs the bank’s Bank, she became CEO of Card Services in February 2017, she has completed a series of number has since dipped to $2.7 trillion along with the sprawling credit-card business. e bank is the No. 1 shortly after the Sapphire Reserve card debuted; she is recent leases with notable tenants stock market. Last year saw a net in ow of $25 billion in issuer of credit cards, with almost a quarter of the market credited with the card’s success. Piepszak extended the such as McKinsey & Co., which assets, the 10th consecutive year of net increases. And in and 49 million credit and debit transactions on average Sapphire brand with new products, including a perk-packed took nearly 200,000 square feet just two years, she catapulted the unit’s ETF business from daily. In the expanded role created for her, she also will bank account aimed at the same a uent millennial market. there last year, and global spirits zero to $43 billion in assets under management in 2018. oversee mortgage and auto lending. Last year JPMorgan added 8 million credit card accounts, giant Diageo, which signed on for Along the way, Erdoes created the rst foreign-owned Lake was appointed CFO in late 2012, deftly steering for a total of roughly 40 million cardholders. nearly 90,000 square feet. asset-management venture to operate in China, tapping the bank in the aftermath of the London Whale trading Piepszak assumes the CFO role formerly held by “Downtown has an embedded the country’s growing wealth. debacle. Under her watch, the bank’s share price has Marianne Lake as the bank generates record earnings and history, and that’s what makes it She’s steering the unit into the digital future. e You more than doubled, outperforming the broader S&P revenue: $32.5 billion on revenue of $111.5 billion last year. magic,” Tighe said. “You can walk Invest app, introduced in August, has drawn ocks of index. Lake has a reputation for being well prepared for But she’ll have to shepherd it through what looks like an through the streets and see every younger customers with its promise of free trades and investor presentations. She seems to be taking the same increasingly volatile climate. age of the city.” research. Robo-advising is expected this year. — A.C. approach to a potential CEO job. — A.C. — A.C. e deals, along with a long list of others, continue to make Tighe one of the city’s most proli c commercial leasing brokers and as KELLY GRIER ANDREA close as the real estate industry has to a tastemaker with the experi- U.S. chairwoman and Americas managing partner, STEWART-COUSINS ence and in uence to shape how Ernst & Young tenants think. 2018 REVENUE $15.6 billion Majority leader, New York Senate NYC IMPACT Member, executive committee and board, OFFICE’S 2018 BUDGET $930,000 Partnership for New York City; board member, Council of NYC IMPACT e city is largely at the mercy of the state, Foreign Relations and Center for Audit Quality where her say is essential “YOU DON’T LAST YEAR Kelly Grier, 49, became the rst woman FOR YEARS “three men in a room” ruled to run Ernst & Young’s U.S. and Americas opera- New York: the governor, the Assembly speaker WANT TO # tions. She oversees more than 72,000 employees # and the Senate majority leader. But a new era across 31 countries—which collectively generate about half the global professional dawned in January as this Yonkers lawmaker became the rst female leader MESS WITH 3 services rm’s total revenue. 4 of a New York state legislative body, part of Democrats’ capture of the upper NEW NEW MARY JO” Grier has been at the rm for 28 years. She previously led its central U.S. region, chamber in the November elections. where she served many of its top audit and advisory clients. Andrea Stewart-Cousins, 68, swiftly shepherded through a number of progressive —Former President Barack Her career began when she was an accounting major at St. Mary’s College in priorities, including campaign- nance reforms and tuition assistance for undocu- Obama when he nominated Indiana, and worked as controller for a minor league baseball team a liated with the mented immigrants. Her power became even more evident when her nomination of state Mary Jo White to head the Chicago White Sox. When accountants were preparing to examine the team’s books, Grier Sen. Michael Gianaris—a erce critic of Amazon’s proposed o ce campus in Queens—to a U.S. Securities and asked them to hold o so she could prepare for a test. board with authority to veto the deal led the company to cancel its plans. Exchange Commission “I was actually audited before I conducted my rst audit,” she told a student group recently. Landlords bit their nails as she negotiated a tenant-friendly overhaul of the state’s rent in 2013 Last year EY’s revenue in the regions overseen by Grier rose by more than 7%. laws. Other business interests are hoping she can establish a regulatory regime for recre- — AARON ELSTEIN ational marijuana in talks with the two men remaining in the room. — WILL BREDDERMAN

14 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P014_P015_CN_20190617.indd 14 6/13/19 5:20 PM DIANE VON FURSTENBERG

Founder, Diane von Furstenberg In May she cut the ribbon for the Statue 2018 REVENUE Less than $500 million, reportedly of Liberty Museum, for which she raised NYC IMPACT Director, Diller–von Furstenberg Family Foundation; $100 million by selling each star of an Anh board member, Council of Fashion Designers of America [former Duong–designed donor wall for $2 million. chairwoman], e Shed and the Statue of Liberty Museum In Manhattan, von Furstenberg and her husband, media mogul Barry Diller, have AFTER A TUMULTUOUS PERIOD at her fashion house, given $250 million from their foundation during which two creative directors came and went to build Pier 55, a futuristic outdoor park and

BUCK ENNIS # within two years, designer Diane von Furstenberg, 71, put performing arts center. And the curtain has

her con dence in Sandra Campos, a CEO hired in April gone up at e Shed at Hudson Yards, a $475 mil- STEVE BENISTY 6 2018. Campos hired a design director, allowing the compa- lion arts center. Daniel Doctoro , chairman of the 2017 MARY ANN RANK: 4 ny’s founder to turn her attentions to funding new cultural institution’s board, called von Furstenberg “the godmother of TIGHE institutions on or near the Hudson River. this idea.” — CARA EISENPRESS

CEO, tristate region, CBRE CBRE 2018 REVENUE $21.3 billion NYC IMPACT Co-chairwoman, JENNIFER Metropolitan Museum of Art business committee; vice chair- PIEPSZAK woman, Columbia University Real CFO, JPMorgan Chase Estate Development Advisory 2018 REVENUE $52 billion (consumer and community Board; trustee, St. Patrick’s banking, including credit cards) Cathedral and the Archdiocese of New York; board member, Inner- NYC IMPACT Board member, United Way of New York City City Scholarship Fund JENNIFER PIEPSZAK’S WHEN MARY ANN TIGHE high-pro le new job speaks, big tenants as JPMorgan’s # listen. nance chief, After helping the reporting to CEO 5 Financial District regain 2017 Jamie Dimon, RANK: 3 relevance nearly a lands her a spot decade ago, Tighe, 70, on Crain’s Most is now refortifying the Powerful Women list for neighborhood after attention the rst time. shifted in recent years to the shiny e position, which new o ce towers in Hudson Yards. became e ective May 1, Two years ago Tighe brought also comes with a spot on Spotify to 4 World Trade Center, JPMorgan’s 11-member where it eventually grew into the operating committee. building’s largest private-sector During her two and a half decades at the bank, Piepszak, tenant. As one of the lead deal- 49, has proved herself in a variety of roles, from investment makers working to ll the neigh- banking to consumer banking. After running Chase Business boring 80-story tower at 3 WTC, Bank, she became CEO of Card Services in February 2017, she has completed a series of shortly after the Sapphire Reserve card debuted; she is recent leases with notable tenants credited with the card’s success. Piepszak extended the such as McKinsey & Co., which Sapphire brand with new products, including a perk-packed took nearly 200,000 square feet bank account aimed at the same a uent millennial market. there last year, and global spirits WHAT IT TAKES Last year JPMorgan added 8 million credit card accounts, giant Diageo, which signed on for for a total of roughly 40 million cardholders. nearly 90,000 square feet. In today’s global job market, opportunities abound. Those with new ideas, hands-on experience, the ability to Piepszak assumes the CFO role formerly held by “Downtown has an embedded problem-solve, and the vision to know what comes next, will be able to take advantage of all of the resources Marianne Lake as the bank generates record earnings and history, and that’s what makes it available to create a distinct and successful career path. revenue: $32.5 billion on revenue of $111.5 billion last year. magic,” Tighe said. “You can walk But she’ll have to shepherd it through what looks like an through the streets and see every At the NYU School of Professional Studies, our unique brand of industry focused graduate education sets you increasingly volatile climate. age of the city.” apart, encouraging you to think strategically, lead decisively, and anticipate what lies ahead. Taught by top — A.C. e deals, along with a long list experts in their ﬁ elds, every program we o er a ords you the chance to gain professional experience and to of others, continue to make Tighe expand your network. From internships at top corporations, to transformative career coaching, you are armed one of the city’s most proli c commercial leasing brokers and as with what it takes to succeed, and prepared with an NYU education that will serve you for a lifetime. close as the real estate industry has to a tastemaker with the experi- NYU SCHOOL OF PROFESSIONAL STUDIES - GRADUATE PROGRAMS ence and in uence to shape how tenants think. — DANIEL GEIGER

Construction Management • Real Estate • Real Estate Development / Event Management • Hospitality “YOU DON’T Industry Studies • Tourism Management / Global APPLY sps.nyu.edu/applygrad A airs • Global Security, Conﬂ ict, and Cybercrime FOR YEARS “three men in a room” ruled Global Sport • Sports Business / Human Capital New York: the governor, the Assembly speaker WANT TO LEARN MORE Analytics and Technology • Human Resource and the Senate majority leader. But a new era sps.nyu.edu/grad1g • 212-998-7100 dawned in January as this Yonkers lawmaker became the rst female leader MESS WITH Management and Development / Integrated Marketing Public Relations and Corporate Communication of a New York state legislative body, part of Democrats’ capture of the upper MARY JO” REQUEST INFO. chamber in the November elections. sps.nyu.edu/gradinfo1g Management and Systems / Project Management Andrea Stewart-Cousins, 68, swiftly shepherded through a number of progressive —Former President Barack Professional Writing / Publishing: Digital and Print priorities, including campaign- nance reforms and tuition assistance for undocu- Obama when he nominated Media / Translation mented immigrants. Her power became even more evident when her nomination of state Mary Jo White to head the Sen. Michael Gianaris—a erce critic of Amazon’s proposed o ce campus in Queens—to a U.S. Securities and board with authority to veto the deal led the company to cancel its plans. Exchange Commission DOMESTIC APPLICATION DEADLINE: Landlords bit their nails as she negotiated a tenant-friendly overhaul of the state’s rent in 2013 laws. Other business interests are hoping she can establish a regulatory regime for recre- FALL Semester 2019 - Final: July 1, 2019 ational marijuana in talks with the two men remaining in the room. — WILL BREDDERMAN —

NYUSPS Ofﬁ ce of Strategic Marketing and Communications JUNE 17, 2019 | CRAIN’S NEW YORK BUSINESS | 15 Job Number: a1819-0650 Pub/Issue Date: CRAINS NY 6/17/19 Product: MS General_Model D Date 6/05/19 Size: 8.125” x 10” (Jr Page) Artist: pw Bleed: N/A Proof #: 2 P014_P015_CN_20190617.indd 15 Color/Space: 4C 6/13/19 4:22 PM CRAIN’S MOST POWERFUL WOMEN IN NEW YORK

BONNIE LETITIA JAMES HAMMER Attorney general, New York 2018 BUDGET $236 million Chairwoman, NBCUniversal NYC IMPACT Polices nonpro ts, direct-to-consumer and digital nancial rms, Medicaid enterprises providers, consumer businesses 2018 REVENUE (of cable networks) and condo developments $11.8 billion NYC IMPACT Member, board of AFTER PREDECESSOR Eric directors, InterActive Corp. Schneiderman resigned amid # allegations of domestic abuse, THE WOMAN WHO RAN NBCUniversal’s entertainment cable Letitia James, 60, rode President channels for 15 years and helped make them a ratings 10 Donald Trump’s unpopularity to a big victory on Election NEW # powerhouse—with pro t and revenue growing every LAURA Day last year. at fact was not lost on James, the rst woman year—has been given a huge new task. In January, Bonnie elected to the state’s top law-enforcement job. 7 Hammer, 68, was put in charge of creating a streaming e Democrat has initiated multiple lawsuits against the 2017 FORESE RANK: 13 video service for NBCUniversal and having it ready to president’s administration—whether over its attempts to add a citizenship launch by early next year. e assignment puts her at the Executive vice president question to the U.S. census or to roll back regulations concerning the center of where the television industry is moving, as more and chief operating o cer, environment and the insurance industry. e antagonism has earned her viewers cut the cable cord and turn to an à la carte menu of video New York–Presbyterian national media attention but also triggered concerns that judges might programming. 2018 REVENUE $8.5 billion throw out her legal actions as prejudiced and politically motivated. e new ad-supported service could help the media giant compete As New York prepares to enact a law enabling the attorney general to NYC IMPACT 47,000 employees with the likes of CBS All Access, Hulu and Net ix as well as nascent prosecute people who have received presidential pardons, her o ce is in Manhattan, Brooklyn and competitors such as AT&T, with its new trophy-asset HBO, and Disney, positioned to assume a central role in the war between Trump and the Queens; board member, Mother which plans to launch Disney+ with help from recent acquisition 21st Democratic Party. — WILL BREDDERMAN Cabrini Health Foundation and Century Fox. NBCUniversal’s service will combine original shows with LiveOnNY the company’s library of TV hits and feature lms. Hammer’s cable success was built on programming, including USA AS NEW YORK– channel hits Mr. Robot and Suits. Clearly Comcast hopes viewers will PRESBYTERIAN has tune in to see what she comes up with next. — MATTHEW FLAMM # grown to 10 hospitals and 200 physician SUZANNE 9 practices across the 2017 RANK: 12 metropolitan area, SCOTT INDUSTRY RANGE Dr. Laura Forese, 57, Crain’s Most Powerful Women has been behind the CEO, Fox News work in 17 different industries. e ort to provide care anywhere 2018 GROSS AD REVENUE The largest number of winners in 5 5 through telehealth services. $1.2 billion MEDIA NONPROFIT any single area is six, a total found NYP already has performed NYC IMPACT Oversees about 1,500 in four different elds. more than 200,000 virtual visits local employees this year, and it has extended the service to include stroke SUZANNE SCOTT, 53, care and psychiatry. made not just headlines Forese has overseen initia- # but also history last year, 6 6 6 6 tives to improve care for when she replaced Roger Ailes as chief executive of ARCHITECTURE BANKING GOVERNMENT HEALTH pregnant women with complex 11 Fox News. e promotion made the Fox veteran the AND REAL ESTATE AND FINANCE AND POLITICS CARE NEW medical conditions and next rst woman to lead a cable news network and was year plans to open a hospital for intended to be a strong statement from an operation women and newborns on the whose previous regime had mostly been swept away top ve oors of an outpatient by sexual harassment scandals. tower on York Avenue. Since taking over, Scott has led what the network describes Forese isn’t alone at the top of as a complete revitalization of Fox News’ culture and revamped NYP: Women ll 44% of C-suite its programming to feature more women as anchors and hosts, LYNNE roles at the health system and including Martha MacCallum and Dana Perino. Women also make make up 65% of its directors, up more than half of the company’s senior executives. Scott has DOUGHTIE managers and supervisors. launched monthly breakfasts at which female leadership discusses One of the most pro table workplace issues with female employees of all levels. U.S. chairwoman and CEO, health systems in the state, NYP Meanwhile, Fox News remains the most-watched cable news KPMG earned $340 million in operat- channel. e network expects to deliver its best year for advertising 2018 U.S. REVENUE ing income last year. revenue when its scal year ends this month. $9.5 billion — JONATHAN LAMANTIA — AARON ELSTEIN NYC IMPACT Board member, Catalyst, Chief Executives for Corporate Purpose, NAF (formerly the National Academy Foundation) CARLA SERRANO and the Partnership for New York City Chief strategy o cer, Publicis Groupe; brain trust behind Marcel, Publicis’ SINCE LYNNE DOUGHTIE, 56, became chairwoman and CEO, Publicis New York innovative AI platform, which enables CEO of KPMG in 2015—the rst woman to hold that 2018 REVENUE $11.4 billion development of a uid workforce of # position at the Big Four accounting rm—she has the future, fostering collaboration NYC IMPACT Board member, increased the company’s revenue by 8.3%. During her E e Worldwide among 80,000 employees across 8 time at the helm, the rm has partnered with AWS, teams, companies and interna- 2017 RANK: 19 Google, IBM Watson, Microsoft and other companies EXCITED BY the ad tional borders, all in the service of to build out its technology services. business, Carla Serrano, clients. She has endured some rough patches, including the # 48, turned a temp job at A Marcel team from Spain, for 2017 ring of six executives for mishandling con dential Chiat Day into a career. example, came up with the Walmart information about audits. e following year, she announced 12 She emailed the president of ads for the Oscars this year without NEW KPMG would add independent directors to its board. the o ce, telling him she’d ever having been in a Walmart or even, Doughtie has been investing in her 32,000 employees. She make a great strategist. He hired for some of them, the United States. Marcel heads up the KPMG Women’s Leadership Summit, which is her, she said, for her moxie. is due to launch in this country at the end of the designed to build a pipeline of female leaders. at’s a path she Twenty- ve years later, and after multiple stints at year, Serrano said. knows well: She rose through the ranks at the rm, starting as Chiat Day—as well as at BBDO, Berlin Cameron and As for the New York o ce, she views it as a testing an auditor in 1985 and later leading the fast-growing advisory marketing agency Naked Communications—she ground and creative center for a new breed of brands business before becoming CEO. KPMG is building a $450 mil- occupies a dual role as head of Publicis’ New York and brand strategies. “I use New York as the agship lion employee training and development center on 55 acres in o ce and chief strategist for Publicis Groupe, the and as a great lab and experimental ground for a lot of Orlando, Fla., scheduled to open next year. second-largest advertising holding company in the the strategies we have for the global group,” she said. — ELLEN STARK world. In the latter role, she’s been a leader in the — JUDITH MESSINA

16 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P016_CN_20190617.indd 16 6/13/19 12:43 PM Kasirer congratulates all of this year’s wonderful Powerful Kasirer, LLC Women recipients! Suri, a special congratulations from Suri Kasirer Alex Malescio your very proud team! Julie Greenberg Douglas Spring Kasirer is the #1 lobbying and government relations firm Carla Matero Megan Wylie in New York. We advocate on behalf of a wide range of clients Omar Toro-Vaca Jennifer Davis who seek local expertise in navigating the City. Omar Alvarellos Tracy Fletcher Ilona Kramer Denisse Giron We advance our clients’ goals—building coalitions and Peter Krokondelas Angela Johnson consensus and influencing decision-makers in the dynamic David Lobl Benjamin Kelly political landscape that defines New York. Jovia Radix Katie Wilson And our team of professionals, whose careers intersect Jennifer Rivera at politics, policy and government, achieve victory Varun Sanyal on behalf of our clients with an unwavering commitment Jennifer Shafran 321 Broadway, 2d Fl to the highest standard of ethics in the industry. Richard David New York, NY Claudia Filomena 10007 Lester Marks T: 212 285 1800 Jennie Frishtick F: 212 285 1818 Samantha Jones kasirer.nyc Fallon Parker [email protected] Alexander Spyropoulos Dan Benjoya Cory Hasson

Untitled-3 1 5/23/19 4:00 PM CN019193.indd 1 6/6/19 6:19 PM CRAIN’S MOST POWERFUL WOMEN IN NEW YORK

SUSAN DEANNA MULLIGAN ZIRINSKY CEO, Guardian Life Insurance Co. of America more U.S. infrastructure 2018 OPERATING INCOME $1.6 billion spending, particularly for President and senior executive NYC IMPACT Board member, Partnership for the long-delayed Gateway producer, CBS News New York City, the Economic Club of New York passenger-rail project. 2018 REVENUE $564 million and Chief Executives for Corporate Purpose Guardian, a rm owned (Source: SMI AccuTV, powered by by policyholders, has long Nielsen Ad Intel) OF THE NEARLY 50 New York City shunned the type of advertising NYC IMPACT Oversees 1,400 employees companies in the Fortune 500, only that made household names of # Guardian is led by a female CEO: competitors AIG and State Farm. THE FIRST WOMAN to lead CBS Deanna Mulligan, 55. But that is changing. e company last News has not hesitated to put her 15 Under Mulligan’s leadership, the year launched its rst direct-to-consumer 2017 # mark on the storied but troubled division. Since starting RANK: 20 158-year-old insurer ended 2018 with insurance platform and along with it the rst TV her new job in March, Susan Zirinsky has shaken up the record capital of $8.5 billion and 27 advertising campaign in the company’s history. 13 anchor chairs at the CBS Morning Show, which had seen million customers, placing it among the “Everyone deserves a Guardian,” the ad declared. NEW ratings and revenue tumble following the #MeToo-related 10 largest life insurers in the country. “We decided it is time to talk more about our departure of host Charlie Rose. And she is moving the Mulligan has been Guardian’s CEO for eight years, mission,” Mulligan said, “and what we can do CBS Evening News to Washington, D.C., where former Morning Show during which time she has led lobbying e orts for for people.” — RYAN DEFFENBAUGH co-anchor Norah O’Donnell will lead coverage of the 2020 election. Zirinsky’s appointment was a rare bit of good news at the network, which had spent the previous year contending with scandals that also claimed the jobs of Chief Executive Leslie Moonves and 60 Minutes Executive Producer Je Fager. David Rhodes, who was not implicated, STACEY CUNNINGHAM KATHRYN announced in January that he would step down as head of CBS News, opening the door for Zirinsky. President, NYSE Group WYLDE From the moment she was promoted, the CBS News lifer has 2018 REVENUE $5 billion President and CEO, Partnership reminded observers of the proud history of the division. Hired during (for parent company Inter- for New York City Watergate, she has been a producer for Walter Cronkite and Dan Rather, continental Exchange) covered the Gulf War and Tiananmen Square, run 48 Hours and pro- 2017 BUDGET $9 million NYC IMPACT Board member, duced award-winning documentaries as well as breaking news. She also NYC IMPACT Board member, EDC, Partnership for New York adds a touch of celebrity, having been the inspiration for Holly Hunter’s Fund for Public Schools, SEO, City; member, Economic character in the 1987 movie Broadcast News. — MATTHEW FLAMM Manhattan Institute and Regional Club of New York Economic Development Council STACEY TOP OF THE CLASS CUNNINGHAM, # 44, is no stranger to Chief executive is the predominant title for New York’s Most Powerful Women, the old boys’ club. e with president and chair ranking second and third. 16 daughter of a stock trader, NEW she took a job as a clerk on the trading oor right Chief executive 20 out of college. A detour to culinary school and a job in a restaurant kitchen followed before she President 14 returned to nancial services. Joining the NYSE in 2012, she Chair 8 rose to the rank of chief operating o cer before being named president—the rst woman to hold that post—in May 2018. Partner 7 Cunningham, pushing the 227-year-old institution forward, spearheaded the rollout of NYSE Pillar, an ambitious trading Founder 6 platform connecting the NYSE’s ve equities markets and two options markets. With private companies waiting longer to go public, she also is working to streamline regulations. THE PARTNERSHIP One feather in her cap this year: e NYSE landed the initial for New York City, public o ering for Uber. e ride-hailing app joins more than # the business 2,300 listed companies on the exchange, the world’s biggest community’s based on their $28.8 trillion total market value. — ELLEN STARK 18 leading voice, ALEXANDRIA 2017 RANK: 16 resembles a team OCASIO-CORTEZ of titans with representatives Member, House of Representatives STEPHANIE of many of the city’s largest 2018 BUDGET $1.3 million businesses including JPMorgan Chase, P zer and Vornado Realty NYC IMPACT Represents nearly COHEN Trust. 700,000 residents in Queens Kathryn Wylde, 72, in charge and the Bronx Chief strategy o cer, Goldman Sachs of the group since 2001, has the NO FIGURE has 2018 REVENUE $36.6 billion ability to get almost any business shaped the leader or New York o cial on the NYC IMPACT Board member, # political conver- phone. Her 109-person board quill.org sation in New includes Blackstone’s Stephen 14 York—and perhaps A GOLDMAN SACHS lifer Schwarzman, an adviser to NEW nationwide—in the past who rose through the President Donald Trump, and year more than Alexandria # ranks of mergers and Laurence Fink, CEO of BlackRock, Ocasio-Cortez, 29, the youngest woman ever acquisitions after starting as an analyst fresh out of the world’s largest asset manager. elected to the House of Representatives. By unseating Rep. Joseph 17 college, Stephanie Cohen, 42, became chief strategy Under her leadership, the NEW Crowley, the Queens Democratic boss, she shook up local politics o cer in January 2018. She assumed responsibility for group has fought hard for and injected her party with a dose of socialist fervor. e rollout of new business ideas and other growth opportunities for funding to x the subway and has her Green New Deal had Gov. Andrew Cuomo and Mayor Bill de the 150-year-old Wall Street rm. An ex- o cio member helped get congestion pricing Blasio scrambling to enact policies in the city and the state under of the company’s management committee, she’s the youngest approved in Albany. It also the same banner. Her opposition to the Amazon HQ2 plan almost member of that powerful body. launched the Transit Tech certainly inspired state Sen. Michael Gianaris’ e orts to kill the Cohen created GS Accelerate, an in-house innovation program, Innovation Lab with the MTA, deal, for fear of being ousted like Crowley. Ocasio-Cortez has as a way to capture employee ideas and turn them into actual where tech startups can develop since shown interest in in uencing local elections, backing a raft businesses. From the rst wave of a thousand submissions, about 10 solutions to help buses and trains of state Senate aspirants last year and recently endorsing leftist are now being funded. She also leads Launch with GS, a $500 million run on time. lawyer Ti any Cabán for Queens district attorney. It might be that initiative rolled out last year to help close the gender investing gap. But the reversal of Amazon’s her candidates fall short, her proposals stall and she continues ose funds—from Goldman as well as clients—will be invested in decision to locate its second to be ridiculed by the right wing. But for now, she can send 280 women-run businesses and investment managers, a group far less headquarters in Long Island City, characters of fear into the heart of any elected Democrat at any likely to attract venture capital than all-male leadership teams are. heavily advocated by Wylde, was time, thanks to her 4.3 million followers on Twitter. e program can help foster a supportive network for female a big disappointment. — WILL BREDDERMAN founders to help them build those businesses. — E.S. — AARON ELSTEIN

18 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P018_CN_20190617.indd 18 6/13/19 11:36 AM OUR POWERFUL WOMEN

Congratulations to Darcy Stacom and Mary Ann Tighe for being recognized as two of Crain’s 50 Most Powerful Women in New York. They are at the pinnacle of a group of strong, dedicated women at CBRE.

Ground breakers in commercial real estate, their deals are among the largest and most creative in the City. Darcy is an innovator, completing over $100 billion in transactions like the sales of the Chrysler Building, Chelsea Market and Terminal Stores. Mary Ann has closed more than 100 million square feet of leasing deals throughout her career, driving the most transformative projects in New York City’s recent history, including the new World Trade Center, Hudson Yards and Midtown East rezoning.

We are proud to have Darcy, Mary Ann, and so many other amazing women harnessing our platform to provide exceptional outcomes for clients.

CN019200.indd 1 6/10/19 12:12 PM CRAIN’S MOST POWERFUL WOMEN IN NEW YORK

ADENA FRIEDMAN young businesses enjoy. her company has notched notable victories: Nearly three Of course, marketplaces are quarters of all U.S. IPOs last year listed on Nasdaq (186 in President and CEO, Nasdaq her business. More than 4,000 total), including seven of the 10 largest technology o er- 2018 REVENUE $4.3 billion companies with a total market ings. So far this year, 78 companies have gone public with NYC IMPACT Oversees 585 local employees; member, value of $14 trillion trade on Nasdaq, including Lyft, Tradeweb and Zoom. Federal Reserve Bank of New York board of directors the Nasdaq. But it’s under Friedman is diversifying the exchange away from trading pressure as startups are relying and IPO revenue. To that end, she’s looking to market TWO AND A HALF years into her tenure on venture capital and other technology, data analytics and information services, as Nasdaq CEO, Adena Friedman, 49, is private funding for as long as acquiring nancial tech and data companies such as # on a mission: to see more private possible. Still, while Friedman Cinnober, eVestment and Quandl to enhance Nasdaq’s companies become publicly traded, might have lost the race to take o erings. So far her e orts are paying o : On Friedman’s 19 thereby allowing a wider pool of individual Uber public this year (the e-hail giant watch during the past two years, total revenues are up 15%. 2017

RANK: 48 investors to pro t from the rapid growth opted for the New York Stock Exchange), — ELLEN STARK GREENSLADE/NASDAQ MATT

PATRICIA HARRIS FACT SHEET CEO, Bloomberg Philanthropies culture, the environment, public health and 2018 ENDOWMENT $10 billion government innovation. NYC IMPACT Board member, National Bloomberg Philanthropies made September 11th Memorial Foundation, headlines last year when it pledged the % Public Art Fund and Performing Arts largest philanthropic gift ever to an 26.5 Center at the World Trade Center institution of higher education: PORTION of executives, senior $1.8 billion to the former mayor’s of cials and managers with S&P A VETERAN of the city’s alma mater, Johns Hopkins Univer- 500 companies who are women political scene and a sity, to underwrite student Source: Center for American Progress # longtime member of scholarships. Michael Bloomberg’s A native New Yorker, Harris earned 21 inner circle, Patricia her political and philanthropic chops 2017 Harris, 62, is a familiar early on. She started her career in 1977 as MARY JO RANK: 22 HEISLER GREGORY presence on powerful- an assistant to then-Rep. Edward Koch and WHITE women lists, not least because she gives later served in his mayoral administration. away hundreds of millions of dollars of the former She joined Bloomberg LP as head of philanthropy Senior chair and partner, mayor’s fortune every year. and corporate communications in 1994 and became Debevoise & Plimpton Last year Bloomberg Philanthropies invested rst deputy mayor in the Bloomberg administration. 2018 REVENUE $929 million $767 million to initiate or support e orts in 510 cities In 2014 she was named CEO of Bloomberg NYC IMPACT Member, Council on and more than 129 countries in education, arts, Philanthropies. — JUDITH MESSINA Foreign Relations; board member, ASPCA MARY JO WHITE, 71, FAIZA SAEED is the go-to white- # collar defense LARAY Presiding partner, Cravath Swaine lawyer for big & Moore 20 companies facing BROWN NEW 2018 REVENUE $816 million big crises. NYC IMPACT Trustee, Paley Center CEO, One Brooklyn Health When former for Media; board member, Partner- System CBS chief Les ship for NYC and March of Dimes Moonves was accused of sexual CEO, Interfaith Medical Center (New York chapter); member, New harassment, the network hired 2018 REVENUE $1.2 billion York Women’s Foundation; fellow, White to lead a wide-ranging NYC IMPACT Board member, American Bar Foundation independent investigation. Her Greater New York Hospital

report provided grounds for CBS GETTY IMAGES Association NOW IN HER THIRD YEAR as head of 200-year-old Cravath to deny Moonves a $120 million Swaine & Moore, Faiza Saeed, 53, remains one of just a severance package and start THE CUOMO ADMINISTRATION—and the people of # handful of women running a top U.S. law rm. She says rebuilding its image. Brooklyn—are counting on LaRay Brown, 66, to she’s committed to elevating talented women in the eld She also is representing four # reimagine health care in the central and eastern 23 until partnership ranks more closely mirror the law school 2017 members of the billionaire Sackler sections of the city’s most populous borough. RANK: 27 population, which was 52% female last year, according to family, which controls OxyCon- 22 Brown leads One Brooklyn Health System, an the American Bar Association. Cravath just promoted its NEW tin-maker Purdue Pharma, in organization created last year by Brookdale Univer- second all-female partnership class. facing a wave of civil suits brought sity Hospital Medical Center, Interfaith Medical “Our aspiration is a partnership that re ects the full diversity of the in the last year blaming prescrip- Center and Kingsbrook Jewish Medical Center to law school population,” Saeed said. “We’re proud of the progress we tion drug companies for the receive a $664 million transformation grant from the state. Of have made, but there is more work to be done.” opioid-addiction epidemic. that total, Brown plans to use $210 million to build out a network Saeed was named a 2019 Dealmaker of the Year by e American White earned her reputation as of clinics to treat people before they need more expensive Lawyer—a title she’s held four times. e honor came after she shep- a heavy hitter at every stage of her hospital care. herded Disney through a complex $85 billion acquisition of 21st Century career. She spent nearly a decade “One Brooklyn Health represents an unprecedented opportunity Fox that involved overcoming an interloper bid from Comcast and as the U.S. attorney for the to really move the needle in terms of the health of more than spinning o some media assets as well as the pending sale of Fox Southern District of New York— 1 million people in a diverse borough,” she said. “ at opportunity regional sports networks. the only woman appointed to the also comes with tremendous responsibility.” Other projects include advising Occidental Petroleum as it outmaneu- o ce in its 200-year history. In e three hospitals collectively have lost hundreds of millions vered Chevron to acquire Anadarko for a pending $57 billion deal and that high-pro le post, she won of dollars in recent years and have relied heavily on state subsidies secured a $10 billion investment from Berkshire Hathaway, and advising convictions in the 1993 World to stay open—an unsustainable course that Brown is tasked with Viacom’s board as it explores a tie-up with CBS. — H.P. Trade Center bombing case. changing while ameliorating the daunting health problems of “You don’t want to mess with disadvantaged populations. Brown and her team have focused Mary Jo,” President Barack Obama on creating shared services that can lower the hospitals’ costs by said when he nominated her to creating system-wide psychiatry and OB/GYN chairs, for example. “I TRULY BELIEVE A PRODUCER’S JOB head the Securities and Exchange “We have three institutions who for decades saw themselves Commission. ere White set an as competitors. We were competing for the best physicians and IS TO BELIEVE IN A SHOW, TO BE THE agency record by pursuing about competing for support from the state and grant funding,” she 2,850 enforcement actions in a said. “ at does not exist anymore. We work together in terms LAST PERSON STANDING” three-year period, reaping nearly of strategic initiatives. e discussions are about the system and — Daryl Roth $14.5 billion in sanctions. community residents we serve and not what’s best for Kingsbrook, — HILARY POTKEWITZ Interfaith and Brookdale.” — JONATHAN LAMANTIA

20 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P020_CN_20190617.indd 20 6/13/19 1:39 PM would like to recognize all of Crain’s Most Powerful Women

and congratulates SUZANNE SCOTT Chief Executive Of cer Fox News

Untitled-14 1 6/13/19 1:26 PM CRAIN’S MOST POWERFUL WOMEN IN NEW YORK

PAMELA KIRSTEN LIEBMAN GILLIBRAND President and CEO, U.S. senator the Corcoran Group 2018 BUDGET $4.7 million 2018 SALES $18.5 billion NYC IMPACT Drew national attention NYC IMPACT Founding board to sexual assault at Columbia member, Wipe Out Leukemia University and in the military, Forever Foundation; board member, anticipating #MeToo

Intrepid Sea, Air & Space Museum REBECCA HAMMEL Foundation THE JUNIOR SENATOR from New BUCK ENNIS York actually anticipated the present cultural zeitgeist by OTHER RESIDENTIAL BROKERAGE FIRMS may be larger, have # several years. Well before #MeToo proliferated on social higher valuations and more aggressively poach top talent, media and sexual abuse allegations dislodged powerful # but only Corcoran has Pam Liebman. MELISSA 28 men from the echelons of Hollywood and Washington, 2017 e rm won the coveted assignment to sell units at 220 DEROSA RANK: 10 Gillibrand was pushing legislation to stop rape and 24 Central Park South, where the penthouse recently sold for gender-based harassment in the military and at Columbia 2017 RANK: 27 a record-shattering $240 million, after Liebman—who Secretary to the governor University and other college campuses. usually focuses on management—said she would person- 2018 BUDGET $175 billion In fact, the upstate native, 52, has staked her entire career in the ally take on the project. NYC IMPACT Helps determine what Senate on issues that resonate with women, including paid family Her pledge to lend a hand selling two condo towers at Hudson Yards the city gets from Albany leave and maternal medical care. So far she has struggled to turn it into helped win the rm the lucrative sales e ort for those spires and a foothold in the packed Democratic presidential eld. But she has could serve as an entrée to more assignments in the fast-growing GOV. ANDREW CUOMO nonetheless pushed adventurous proposals on the campaign trail, neighborhood. rules New York with including a Family Bill of Rights that would guarantee fertility treat- Just as important as building the rm’s credentials and pipeline, # an iron st—and ments, nursery care and prekindergarten, regardless of income. Liebman has juggled the task of making Corcoran a compelling place the secretary to the Whether she’s able to secure a place on the debate stage or a role in a to work at a time when rivals have lavished money to lure away top 26 governor is his right future administration, Gillibrand will doubtless maintain her focus on 2017 brokers. RANK: 23 hand. e daughter policies a ecting working women. — W.B. “We’re a homegrown rm, and we teach people how to be successful of a top Albany while creating a wonderful culture,” Liebman said. “We help brokers be lobbyist, Melissa their most successful self. We may not be the biggest, but we continue to DeRosa, 36, has climbed the grow, and we’re No. 1 in our markets along with being pro table. Others hierarchy of the executive can’t say that.” — DANIEL GEIGER branch during the past six years, ascending from the press o ce SURI to the highest-ranked unelected job in state government. KASIRER “THERE SHOULD BE MANY No less combative than her boss, she never shies away from President, Kasirer Consulting MORE WOMEN IN THE AIRLINE assailing Cuomo’s critics in the 2018 REVENUE $12.8 million press, on social media or at public NYC IMPACT Board member, INDUSTRY RANKED HIGHER events. She takes a prominent New York League of Conser- role in promoting the governor’s vation Voters, Citymeals on messages and policy priorities, Wheels, Women’s Leadership THAN ME” particularly his annual women’s Forum and New York Building agendas. is year that included — Joanne Geraghty Foundation the criminalization of “revenge porn,” codifying and expanding IT’S NOT ALWAYS LONELY at the top. Kasirer Consult- abortion protections and ing is the highest-earning lobbying rm in New York obligating insurance rms to # City and has been for 10 of the past 13 years, swaying provide birth-control coverage. lawmakers on behalf of an array of high-dollar real — WILL BREDDERMAN 29 estate and business clients. Last year, shortly after 2017 ELIZABETH RANK: 40 Kasirer took over the portfolio of New Yorkers for Clean, Livable and Safe Streets, a group seeking to DILLER free horses from towing tourists around, Mayor Bill FACT SHEET de Blasio con ned the equestrian carts to Central Park. Founding Partner, Diller e lobbyist noted that her nonpro t clients, which include Sco dio & Renfro PORTION Lincoln Center and the American Cancer Society, received 2018 REVENUE “Eight gures” of Fortune $33 million in the most recent allocation of City Council funds. % 500 board NYC IMPACT Board member, 25.9 She also helped Alloy Development win approval for a 900- Municipal Arts Society; members apartment high-rise in Downtown Brooklyn. e rm’s epony- advisory board member, who are women, 10.3 percentage mous founder, 60, insists that her business is about crafting the the Storefront for Art and points higher than the rate from right political and media strategy rather than about curating relationships, but she has scads of those, dating back to her work GEORDIE WOOD Architecture 10 years ago Sources: Pew Research Center, Fortune as an aide to Mario Cuomo and Bill and Hillary Clinton. — W.B. IN ARCHITECTURE CRITIC Michael Kimmelman’s review of the Hudson Yards neighborhood-from- # scratch in e New York Times, he delivered his usual eviscerating observations of each new of initiatives to improve the lives and 25 building. Except for one: e Shed, a $475 million livelihoods of New Yorkers, from reducing 2007 LORIE SLUTSKY unranked arts center that he called “the most novel work of gun violence to improving health care, architecture on site.” President, New York Community conserving the environment and Its designer, Diller Sco dio & Renfro, co-founded Trust attacking persistent poverty. in 1981 by Elizabeth Diller, now 65, has developed a deep ENDOWMENT $2.8 billion In her 33 years as president of the portfolio of civic and cultural projects—beautifully imagined NYC IMPACT Member of the chief trust, Slutsky has more than tripled places such as the High Line, where it opened the nal segment judge’s Permanent Commission to its endowment. Last year she oversaw this month, and a renovated Lincoln Center campus, with its Expand Access to Civil Legal Services the distribution of more than $162 mil- rising wedge of green grass and updates to Alice Tully Hall, the lion in grants. Among the trust’s recent Juilliard School and the School of American Ballet. WHEN IT COMES to impact, initiatives are a $3.6 million grant to Due to open in the fall is Diller’s expansion of the Museum of Lorie Slutsky, president of Teaching Matters to expand early-reading Modern Art into the footprint once occupied by the American # the 95-year-old New York programs in the Bronx, $500,000 to six ARI MINTZ Folk Art Museum. e rm is completing Columbia Business Community Trust, touches virtually nonpro t organizations to do community School’s new home on the Manhattanville campus, expected to 27 every facet of need in the city. outreach for the 2020 census and $275,000 to a 2017 be nished in 2022. RANK: 18 Slutsky, 66, whose organization has collaborative venture among three organizations In 1999 Diller and her partner Ricardo Sco dio were the rst been entrusted by more than 2,000 families, to help improve the health and quality of life architects to be awarded a MacArthur “genius” award. individuals and businesses to administer their of LGBTQ New Yorkers, a longtime focus of — JEANHEE KIM charitable funds, heads up a broad—and broadening—range the trust. — JUDITH MESSINA

22 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P022_CN_20190617.indd 22 6/13/19 5:10 PM Congratulations, Pat, on being named one of Crain’s New York Business 50 Most Powerful Women

Healthfirst salutes Pat Wang, President and CEO, for reminding us every day to keep our members at the center of every decision we make.

As New York’s largest not-for-profit insurer, Healthfirst covers close to 1.4 million members who are as diverse as New York itself and who continue to be at the center of our mission.

Health insurance plans for individuals | families | businesses

CN019205.indd 1 6/14/19 9:17 AM CRAIN’S MOST POWERFUL WOMEN IN NEW YORK

JOANNA DARCY LIZ HILTON GERAGHTY STACOM SEGEL President and COO, JetBlue Chairman and head of NYC Managing partner for North 2018 REVENUE $7.7 billion America, McKinsey Capital Markets, CBRE NYC IMPACT Board chair, Concern CBRE TOTAL 2018 REVENUE 2018 REVENUE $9 billion Worldwide U.S.; board member, $21.3 billion (worldwide, for all of McKinsey) JetBlue Foundation NYC IMPACT Board member, NYC IMPACT Oversees 1,800 city New York Restoration Project employees; trustee of the Central WHEN JOANNA GERAGHTY, 45, Park Conservancy and the was elevated to the role of THERE’S A REASON Darcy Conference Board # JetBlue’s president—the company’s Stacom’s nickname in the real estate business is the second-in-command—in May 2018, she became the # Queen of Skyscrapers. She is the salesperson the 34 highest-ranking woman at a major U.S. airline. From NEW city’s biggest landlords call when they want to sell a JetBlue headquarters in Long Island City, Geraghty 30 billion-dollar trophy building and for whom major oversees a company with 22,000 employees that runs 1,000 2011 RANK: 50 investors wait by the phone, hoping she’ll ring with daily ights throughout the U.S. and Latin America. good news about their bid. rough the JetBlue Foundation’s Fly Like a Girl initiative, Geraghty is Google dialed her twice to help advise it on its leading a national e ort to boost the airline industry’s ranks of women— recent $2.4 billion purchase of Chelsea Market and a later deal to whom the foundation says make up less than 7% of commercial pilots buy the Milk Building next door for $600 million. In March she and 3% of aircraft maintenance technicians. sold a controlling interest in the Chrysler Building for $150 mil- “ ere should be many more [women in the airline industry] ranked lion. Although that price might seem low for an icon of the city’s even higher than me,” Geraghty said in the fall at a foundation event in skyline, the deal was actually a testament to her skill: e tower’s Utah, as reported by the Deseret News. “We know that the more you complex ownership structure had many observers guessing it expose girls and young women to careers in STEM, they start thinking

would fetch tens of millions of dollars less. CRAIG GORDON that they can actually do that type of career.” — RYAN DEFFENBAUGH A big part of Stacom’s success is the way she handles the bruised egos of those who don’t prevail in her heated auctions. LIZ HILTON SEGEL, Runners-up, after all, might be sources of her next big deal. 48, was on maternity “I always say to bidders, ‘I want you to bid every last penny in # leave when she was FACT NUMBER of women that are new to the list, your pocket,’” Stacom said, “so that at least you’ll know I gave you elected partner at 42% of the total the opportunity.” — DANIEL GEIGER 33 McKinsey & Co., and SHEET NEW 22 worked part time for ve years so she could pick up her PAT son after school and spend more hours with her young daughter. ANNA WANG To create those opportunities for others, two years ago she WINTOUR President and CEO, Health rst helped launch the consulting 2018 REVENUE $10 billion-plus rm’s dual-career initiative, which Artistic director, Condé Nast provides concierge services, NYC IMPACT 1.4 million 2017 COMPANY REVENUE $2.2 billion backup child care and even members NYC IMPACT Trustee, Metropolitan training for executive assistants Museum of Art; co-chair, Costume DURING PAT WANG’S to coordinate schedules with an Institute gala; founding donor, tenure at Health rst, employee’s spouse. Youth Anxiety Center at New York– # the nonpro t insurer’s Before she was promoted to her Presbyterian Hospital growth has soared. Since she current job last year, Hilton Segel 31 took the helm in 2008, annual revenue has increased by led the rm’s marketing and sales CONDÉ NAST’S publishing empire is shrinking. And if 2017 RANK: 36 500%, exceeding $10 billion last year, and membership has practices in the Americas and Vogue’s once-legendary September fashion issue merits a grown more than 300%. Even as insurers faced massive also headed the New York o ce, # mention in the news these days, it’s likely to be about how uncertainty because of threats to roll back the A ordable McKinsey’s largest and one that it can no longer keep its parent company in the black. Care Act, Health rst added 117,000 members between 2016 and 2018. generates a sizable percentage of 35 But Anna Wintour, 69, Vogue’s longtime editor-in-chief, 2017 Health rst has always been hands-on in managing the health its annual revenue. She also RANK: 9 still commands attention. e high point of her annual of its customers, most of whom are enrolled in Medicaid or other serves on the company’s share- in uence has shifted to May. at’s when she co-chairs government-subsidized plans. But lately it has updated its approach holder council, the equivalent of New York’s annual high-society highlight, the Metropoli- with technology. its board of directors. tan Museum of Art’s Costume Institute gala. “Our analytics unit is drilling down deep into our data to understand e native New Yorker joined is year the glittery event seemed a bigger showcase than ever for members better and developing algorithms to identify the top chal- McKinsey in 1992 after graduating the intersection of pop culture and fashion. With help from an epic lenges they’re facing,” said Wang, 64. from Harvard University, where in entrance by Lady Gaga, the gala generated nearly 10 million Twitter Earlier this year Health rst partnered with NowPow, which uses its addition to majoring in economics mentions, double its 2018 number and with more buzz than earned by digital platform to connect people to resources to address factors that she served as business manager the Super Bowl and the Academy Awards. might be a ecting their health, such as access to food and housing. for the Harvard Crimson student Best of all for Wintour, who is a Met trustee, the event raised a record — CAROLINE LEWIS newspaper. — AARON ELSTEIN $15 million for the Costume Institute. — MATTHEW FLAMM

EVA MOSKOWITZ “I BUILT THIS Founder and chief executive, of Education handed her nearly program Moskowitz began to help share her COMPANY. NOW Success Academy Charter Schools $10 million to open six charter model and methods across the country. Still I WANT OTHER 2018 OPERATING/CAPITAL schools and expand four controversial, it is producing results. BUDGET $325 million middle schools and six pre-K Last year the combined math and reading WOMEN TO FEEL NYC IMPACT 17,000 students programs—which would scores of Success Academy’s students were enrolled in 46 schools in bring the total number of higher than those of any district in the state. EMPOWERED. THEY Manhattan, Brooklyn, Queens Success Academy schools e charter system also graduated its rst and the Bronx to 52. When she will be able class of high school seniors—all of them SAID THERE WAS A to deliver those classrooms, bound for college. EVA MOSKOWITZ, of course, depends on the Outside the classroom, Success Academy’s GLASS CEILING BUT 55, may have her mayor, who has sway over chess and debating teams and track and # di erences with public-school space. soccer teams this year competed nationally I DIDN’T FIND THAT Mayor Bill de Blasio, but In the meantime, Success Academy and internationally. FOR ME” 32 Washington, it seems, has this spring named 16 leadership fellows to For the current school year, it received 2017 RANK: 21 her back. its inaugural principals-in-training program, 17,700 applications for 3,288 available seats. — Dorothy Herman In April the U.S. Department funded by the Robertson Foundation, a — JUDITH MESSINA

24 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P024_CN_20190617.indd 24 6/13/19 12:27 PM Congratulations DOTTIE HERMAN

ON BEING NAMED ONE OF CRAIN’S NEW YORK BUSINESS �� MOST POWERFUL WOMEN

elliman.com

CN019196.indd 1 6/6/19 6:23 PM CRAIN’S MOST POWERFUL WOMEN IN NEW YORK

AMY LAURA CAPPELLAZZO LIZ NEUMARK MCQUADE Founder and CEO, Chairwoman, Fine Art Division, President and CEO, Planned Great Performances Sotheby’s Parenthood of New York City 2018 REVENUE $60 million 2018 AUCTION SALES $2.9 billion 2018 TOTAL OPERATING REVENUE NYC IMPACT Board member, the NYC IMPACT Advisory board $54 million member, West Side Campaign Center for Curatorial Studies at NYC IMPACT e organization is Against Hunger; board member, Bard College, Performance Space expecting 97,000 visits this year by Fund for Public Housing, New York about 61,000 patients. women.nyc and GrowNYC; chair- A STAR OF THE 2018 documentary about contemporary art, woman, Hudson Square BID LAURA MCQUADE, 51, is leading e Price of Everything, Amy Cappellazzo, 51, is unabashed Planned Parenthood through a period of expansion. She’s KAREN # about her role in the art world: to make money—lots of AT THE END of July, Liz Neumark’s catering company, # doing so as the organization remains steadfast in advocacy it. And as rising wealth worldwide has heated up ne art Great Performances, plans to leave its downtown for comprehensive health care, which recently has come 37 markets, she has positioned herself at the crest, where the # home for a former factory building in Mott Haven, the 42 under threat from abortion bans in several states as well as IGNAGNI NEW NEW gavel comes down on the biggest sales. Bronx. e move will add 23,000 square feet and 181 restricted Title X funding and refusal-of-care rules from the President and CEO, At 38 she was co-head of contemporary art at Christie’s, 40 local employees—many of them actors, artists and federal government. 2017 EmblemHealth landing herself on the Crain’s 2006 40 Under 40 list. She left RANK: 27 dancers trying to pay their bills—to an operation that McQuade is at the forefront of a new deal to build 2018 REVENUE $8 billion the auction house in 2014 to start advisory rm Art Agency Partners with already feeds more than 676,000 New Yorkers annually Planned Parenthood’s negotiating power in the Empire State as ve NYC IMPACT Member, New York Allan Schwartzman. Two years later, Sotheby’s acquired the rm for a at catered events and the 10 restaurants and conces- a liates agreed to merge. e deal would create Planned Parenthood of State Council on Women and reported $65 million and made her and her partner the heads of ne art. sions it owns. Greater New York, with an expected operating budget of $110 million in Girls; advisory board member, Since then she has set several art-world records. Last month Sotheby’s Half of the company’s revenue comes from its exclusive contracts its rst year and McQuade at its helm. State Insurance Advisory Board sold a Monet that was the rst impressionist work to exceed $100 million with 10 venues, including the recent addition of Rockefeller Univer- e new chapter would have 28 health centers and 900 employees and and the Department of Health at auction. sity, part of a push that grew revenue by 20% in the past two years. be able to accommodate more than 200,000 patient visits each year. Policy and Management at Cappellazzo has put her prodigious talents behind women and artists Of the caterer’s more than 1,300 employees, 1,100 are city e merger will provide better negotiating power when it comes to Columbia’s Mailman School of color: e $111 million sale of a Jean-Michel Basquiat in 2017 was residents. Every year Neumark, 63, awards four employees $5,000 commercial payers and the ability to partner with larger health systems, of Public Health the highest auction price for any American artist at that time, and Jenny each to fund artistic projects they’re passionate about. McQuade said. It’s also expected to open many doors for sexual and Saville’s Propped set an auction record—$12.4 million in October—for a e business has inspired Neumark to support food-related social reproductive health care at the statewide level. EMBLEMHEALTH is living female artist. — JEANHEE KIM justice missions including nutrition education at Columbia County– one of New York’s based e Sylvia Center and culinary career training programs run # largest insurers, by the West Side Campaign Against Hunger. Inside Great Perfor- covering 3.1 mil- mances, Neumark puts her beliefs into action by including lots of LONELY AT THE TOP 36 lion members in plant-based dishes on the menus and implementing processes to The upcoming Crain’s list of the metro area’s 100 highest-paid chief executives at 2017 LESLIE RANK: 37 the metropolitan reduce or donate the company’s food waste. — CARA EISENPRESS public companies features only four women. Indra Nooyi, who stepped down as area, including HIMMEL Pepsi CEO in October, was paid the most. the majority of municipal workers. Karen Co–managing partner, Ignagni, 65, is working to Himmel & Meringo DOROTHY INDRA NOOYI (PEPSI) stabilize the nances of 2018 ASSETS $1 billion-plus Emblem—the parent company HERMAN NYC IMPACT Board member, VIRGINIA ROMETTY (IBM) of two of New York’s oldest M&T Bank Directors Advisory health insurers, HIP and Council, New York City Mort- CEO, Douglas Elliman GHI—after years of the plans gage Committee, Harvard Business 2018 REVENUE $754 million incurring hundreds of millions ADENA FRIEDMAN (NASDAQ)

School Club of New York; treasurer, ALAN SCHINDLER NYC IMPACT Supports several in losses. REBNY executive committee; co-chair, charities but no longer sits on boards Ignagni has led signi cant REBNY Economic Development Committee investments in technology to A FEW DAYS after routine MINDY GROSSMAN (WEIGHT WATCHERS) help the company monitor the FEW WOMEN HAVE broken into the rare ed business eye surgery last year, health of its members and keep of becoming a major landlord in the city. Leslie # Dorothy “Dottie” Herman, them out of the hospital. She # Himmel, 65, has been one since the 1980s. 66, began to feel feverish and has pushed the doctors and at’s when she and business partner Steve 41 weak. “I couldn’t walk two blocks,” she remembered. 2017 hospitals paid by Emblem to do 38 Meringo teamed up to purchase a large commercial Soon she was diagnosed with Legionnaires’ disease and 2017 RANK: 35 the same, converting more of RANK: 47 property in Long Island City. e pair have since faced a long recovery. their contracts to pay-for-value built a 5 million-square-foot portfolio of commercial “I went from working 24/7 to not working for six and reimbursing them based buildings worth hundreds of millions of dollars, most months,” Herman said. “All of a sudden I had so much time to think.” PAT on members’ health outcomes’ recently purchasing a big warehouse in the Bronx for $89 million. Herman purchased Douglas Elliman with Chairman Howard Lorber instead of paying for each test “To be a landlord,” she said, “you need a lot of cash, you need a in 2003 and built it into the city’s biggest residential brokerage. She MCGRATH and procedure. lot of guts, and then you need an enormous amount of con dence.” found herself wanting out of the day-to-day management of the Ignagni also has led the Now Himmel is considered part of the real estate industry’s company. She sold her ownership stake to Lorber for $40 million last Makeup artist and founder, expansion of Emblem’s inner circle, with membership on the prestigious REBNY executive year and has focused on building her brand, helping other women rise Pat McGrath Labs a liated medical practice, committee, a who’s who of New York City landlords and top through the ranks in business and taking a strategic role to help Elliman 2018 REVENUE $60 million , AdvantageCare Physicians, to executives. She’s helping other women break through, including win business through her considerable reputation and relationships. reportedly more than 40 locations in the her daughter Andrea, who recently began working for Himmel & “I built this company,” Herman said. “Now I want other women NYC IMPACT Around 90 employees metro area. Meringo . to feel empowered. I came from a regular family and a regular back- Emblem opened its 10th “It’s been great to continue to grow our business with young ground, and they said there was a glass ceiling—but I didn’t nd that MAKEUP ARTIST Pat Neighborhood Care location people and new ideas,” she said. — DANIEL GEIGER for me.” — D.G. McGrath, 53, has been this month on Staten Island, # leaving her beauty mark on where members can ask advertising and runways for more than two decades, questions about bene ts or 43 working on 60 or more fashion shows per season. An NEW take diabetes-prevention, SUSAN HERMAN almost ubiquitous gure backstage, she has created stress-management and beauty concepts for Dior, Gucci, Versace and many yoga classes. President, American Civil Liberties Union e ACLU is still more on organizing its base. other fashion houses, making the models’ makeup as Ignagni made a lasting FISCAL 2018 ONLINE DONATIONS $32 million waging legal battles “After the election, people kept asking us, important as their clothing—a boon to the estimated $532 billion contribution to U.S. health care NYC IMPACT Professor, Brooklyn Law across the country ‘What can I do?’” Herman said. “We used to global industry. when she backed the A ord- School to defend repro- say, ‘Send us more money and we can do In 2015 McGrath launched a limited-edition gold pigment for able Care Act as CEO of ductive, immigrant more.’ Now we say, ‘OK, roll up your sleeves.’” eyes, lips and skin under her own label, Pat McGrath Labs, via her America’s Health Insurance AS THE AMERICAN CIVIL and voting rights, e ACLU now has 1.5 million members to social media. It sold out in six minutes. Two years later she debuted Plans, the country’s largest Liberties Union enters its and it has taken 225 mobilize, up from 425,000 before Trump was a full cosmetics collection. Sales as well as investor interest took o . health plan trade group. As # 100th year, Susan Herman, legal actions against elected. A $60 million minority investment by Eurazeo Brands last year lawmakers consider what’s 72, says its mission to defend President Donald Donations have slowed, however. Revenue valued Pat McGrath Labs at an estimated $1 billion, WWD reported. next for health care, Ignagni is 39 the principles of freedom of Trump’s administration from online donations jumped from $5 million Next up for the Northampton, England–born McGrath, who now 2017 certain to be a vocal advocate RANK: 49 speech, freedom of religion and since he took o ce. But with the year before Trump was elected to $87 mil- calls New York City home, is to expand the brand’s footprint into on behalf of Emblem and due process remains unchanged. initiatives such as People Power, a lion in scal year 2017, and then dropped to 117 Sephora locations in North America by the end of the year and New Yorkers. But under her leadership, the grassroots platform that launched in 2017, the $32 million in scal year 2018. build her global reach through rollouts in Australia and the U.K. — JONATHAN LAMANTIA organization’s tactics are evolving. ACLU is moving beyond litigation to focus — CAROLINE LEWIS

26 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P026_P027_CN_20190617.indd 26 6/13/19 5:00 PM LAURA MCQUADE President and CEO, Planned Today, we Parenthood of New York City 2018 TOTAL OPERATING REVENUE $54 million thank you for NYC IMPACT e organization is expecting 97,000 visits this year by about 61,000 patients. doing so much PAULO FILGUEIRAS PAULO LAURA MCQUADE, 51, is leading Planned Parenthood through a period of expansion. She’s AT THE END of July, Liz Neumark’s catering company, # doing so as the organization remains steadfast in advocacy that matters. Great Performances, plans to leave its downtown for comprehensive health care, which recently has come home for a former factory building in Mott Haven, the 42 under threat from abortion bans in several states as well as NEW Bronx. e move will add 23,000 square feet and 181 restricted Title X funding and refusal-of-care rules from the local employees—many of them actors, artists and federal government. dancers trying to pay their bills—to an operation that McQuade is at the forefront of a new deal to build already feeds more than 676,000 New Yorkers annually Planned Parenthood’s negotiating power in the Empire State as ve at catered events and the 10 restaurants and conces- a liates agreed to merge. e deal would create Planned Parenthood of sions it owns. Greater New York, with an expected operating budget of $110 million in Half of the company’s revenue comes from its exclusive contracts its rst year and McQuade at its helm. with 10 venues, including the recent addition of Rockefeller Univer- e new chapter would have 28 health centers and 900 employees and sity, part of a push that grew revenue by 20% in the past two years. be able to accommodate more than 200,000 patient visits each year. Of the caterer’s more than 1,300 employees, 1,100 are city e merger will provide better negotiating power when it comes to residents. Every year Neumark, 63, awards four employees $5,000 commercial payers and the ability to partner with larger health systems, each to fund artistic projects they’re passionate about. McQuade said. It’s also expected to open many doors for sexual and e business has inspired Neumark to support food-related social reproductive health care at the statewide level. — JENNIFER HENDERSON justice missions including nutrition education at Columbia County– based e Sylvia Center and culinary career training programs run by the West Side Campaign Against Hunger. Inside Great Perfor- mances, Neumark puts her beliefs into action by including lots of LONELY AT THE TOP plant-based dishes on the menus and implementing processes to The upcoming Crain’s list of the metro area’s 100 highest-paid chief executives at reduce or donate the company’s food waste. — CARA EISENPRESS public companies features only four women. Indra Nooyi, who stepped down as Pepsi CEO in October, was paid the most. 2018 compensation (in millions) INDRA NOOYI (PEPSI) $24.5

VIRGINIA ROMETTY (IBM) $17.6 ADENA FRIEDMAN (NASDAQ) $14.4 A FEW DAYS after routine MINDY GROSSMAN (WEIGHT WATCHERS) eye surgery last year, Dorothy “Dottie” Herman, $8.8 66, began to feel feverish and weak. “I couldn’t walk two blocks,” she remembered. Soon she was diagnosed with Legionnaires’ disease and faced a long recovery. “I went from working 24/7 to not working for six months,” Herman said. “All of a sudden I had so much time to think.” PAT Herman purchased Douglas Elliman with Chairman Howard Lorber in 2003 and built it into the city’s biggest residential brokerage. She MCGRATH found herself wanting out of the day-to-day management of the company. She sold her ownership stake to Lorber for $40 million last Makeup artist and founder, year and has focused on building her brand, helping other women rise Pat McGrath Labs through the ranks in business and taking a strategic role to help Elliman 2018 REVENUE $60 million , win business through her considerable reputation and relationships. reportedly “I built this company,” Herman said. “Now I want other women NYC IMPACT Around 90 employees to feel empowered. I came from a regular family and a regular back- ground, and they said there was a glass ceiling—but I didn’t nd that MAKEUP ARTIST Pat

for me.” — D.G. McGrath, 53, has been BEN HASSETT # leaving her beauty mark on advertising and runways for more than two decades, 43 working on 60 or more fashion shows per season. An NEW almost ubiquitous gure backstage, she has created beauty concepts for Dior, Gucci, Versace and many more on organizing its base. other fashion houses, making the models’ makeup as “After the election, people kept asking us, important as their clothing—a boon to the estimated $532 billion ‘What can I do?’” Herman said. “We used to global industry. say, ‘Send us more money and we can do In 2015 McGrath launched a limited-edition gold pigment for more.’ Now we say, ‘OK, roll up your sleeves.’” eyes, lips and skin under her own label, Pat McGrath Labs, via her e ACLU now has 1.5 million members to social media. It sold out in six minutes. Two years later she debuted mobilize, up from 425,000 before Trump was a full cosmetics collection. Sales as well as investor interest took o . elected. A $60 million minority investment by Eurazeo Brands last year Donations have slowed, however. Revenue valued Pat McGrath Labs at an estimated $1 billion, WWD reported. from online donations jumped from $5 million Next up for the Northampton, England–born McGrath, who now the year before Trump was elected to $87 mil- calls New York City home, is to expand the brand’s footprint into lion in scal year 2017, and then dropped to 117 Sephora locations in North America by the end of the year and $32 million in scal year 2018. build her global reach through rollouts in Australia and the U.K. — CAROLINE LEWIS — TELISHA BRYAN

JUNE 17, 2019 | CRAIN’S NEW YORK BUSINESS | 27

P026_P027_CN_20190617.indd 27 6/14/19 10:30 AM CRAIN’S MOST POWERFUL WOMEN IN NEW YORK

JANE ROSENTHAL ROBERTA BONITA KAPLAN CEO, executive chairwoman and STEWART founder, Tribeca Enterprises; Founding partner, producer, Tribeca Productions Kaplan Hecker & Fink Vice president, global partnerships, Google Latin America and REPORTED BUDGET $200 million 2018 REVENUE “Eight gures” 2018 REVENUE $136.2 million Canada, working with for e Irishman, the biggest NYC IMPACT Board chairwoman,Gay NYC IMPACT Member, advisory committee, publishers such as budget in director Martin Men’s Health Crisis; member, Time’s American Ballet eater’s Project Plié; Bloomberg, Condé Nast Scorsese’s career. Up New York Safety Agenda, New York member, the Harvard Business School Club and e New York Times. NYC IMPACT Board member of Commercial Division Advisory Council of Greater New York In that role, she’s also been Eko, the 9/11 Memorial and and Judicial Task Force on the New York a leader of Google’s ambi- Museum and the Child Mind

State Constitution AFTER HONING her skills at IBM and tious, recently launched News ZUCKERMAN JOSHUA Institute; member of Times Up Daimler Chrysler and founding two Initiative, helping organizations New York ROBERTA KAPLAN, 52, shot to national fame in 2013, when # companies, Bonita Stewart, 62, evolve their business models in a rapidly evolving she and her client Edie Windsor won their Supreme joined Google in 2006 as head of media world. THE TRIBECA FILM FESTIVAL # Court case to strike down the Defense of Marriage 46 strategy for the tech giant’s U.S. One application, Propensity to Subscribe, uses is enough to keep the 2017 Act—paving the way for same-sex marriage to become RANK: 24 automotive advertisers. machine learning to help publishers identify who # average CEO busy, but Jane 44 the law of the land. irteen years later, Stewart is now is likely to pay for content and who isn’t. Last year Rosenthal, 62, is not your NEW She started her own law rm in 2017, now Kaplan one of the senior leaders for Google Stewart also led the creation of a strategic partner- 49 average CEO. In addition to 2017 Hecker & Fink, to focus on progressive social justice cases in New York and is in charge of the strategic ship that has Google powering Disney’s video RANK: 27 running Tribeca Enterpris- and high-stakes commercial litigation. Kaplan has a partnerships team for global news, publishing and and display advertising business across multiple es, which oversees the knack for being at the forefront of burgeoning causes. Last year she broadcast as well as media and entertainment in channels and brands. — JUDITH MESSINA lm festival and Tribeca co- founded the Time’s Up Legal Defense Fund, which has raised more Studios, Rosenthal also is on a roll as a pro- than $22 million to help women pursue legal action in cases of work- ducer with Tribeca Productions, a separate place sexual harassment and assault. And last month she co-founded company she founded with Robert De Niro Habit (harassment, acceptance, bias and inclusion training), which more than three decades ago. o ers customized anti–sexual harassment, bystander intervention and Tribeca Enterprises has expanded its unconscious-bias training to companies, executives and boards. ANNE footprint with the Tribeca TV Festival—a Kaplan’s recent legal work includes suing neo-Nazis and white sibling of the lm festival, now in its 18th supremacists on behalf of people injured at the Unite the Right rally in PASTERNAK year. During the past two years, the lm Charlottesville, Va.; defending several women being sued by prominent festival formed partnerships with Diageo, men for sharing their #MeToo stories; and representing Airbnb in its Director, Brooklyn Museum Pasternak has shown she Stella Artois, Monte ore, Procter & constitutional challenge to a New York City law requiring the disclosure OPERATING BUDGET $42 million is unafraid to take a political Gamble and PwC and renewed a long- of users’ personal data. Taking a stand is certainly paying o : Her NYC IMPACT Board member, the Andy position. She publicly supported term partnership with AT&T as presenting edgling rm boosted its bonus and pay last year to match the city’s Warhol Foundation for the Visual Arts Christine Blasey Ford during the sponsor. Tribeca Studios has added top-paying law rms. — HILARY POTKEWITZ Supreme Court hearings for Brett partnerships producing branded enter- AT THE BROOKLYN MUSEUM, Kavanaugh, urging the country’s Anne Pasternak, 54, takes the cultural leaders to take a stand and

# job of leading an encyclopedic saying, “I have been sexually assaulted GREENFIELD-SANDERS TIMOTHY “TO BE A LANDLORD, YOU NEED museum seriously. In addition to the numerous times, from my teenage years to 47 crowd-pleasing shows that draw lines of adulthood.” NEW A LOT OF CASH, A LOT OF GUTS fans, the museum has tackled uncom- Mixing the popular and the political is working for fortable political issues and brought the museum. In the past two years, Pasternak has AND AN ENORMOUS AMOUNT OF attention to overlooked people. at overseen growth in foundation support for education has led to exhibitions such as last year’s blockbuster and exhibitions, an increase in corporate sponsors, CONFIDENCE” David Bowie Is—which attracted 275,000 visitors— plus the addition of 15 trustees. Overall audience is up — Leslie Himmel and 2017’s e Legacy of Lynching: Confronting Racial 40%, and there has been 100% growth in membership Terror in America, created in collaboration with the in the past three years. Since the Frida Kahlo exhibit Montgomery, Ala.–based nonpro t Equal Justice debuted in February, the museum has added nearly Initiative and featuring technological support 6,000 members. from Google. — STUART MILLER JILL FURILLO Executive director of the New York State Nurses Association FISCAL 2018 REVENUE $45.2 million DARYL ROTH NYC IMPACT Represents more than 42,000 members Founder and president, Daryl Roth decision after the curtain that Productions evening, he received an THE NEW YORK 2018 REVENUE $39 million for ovation, and an audience STATE Nurses Kinky Boots member reportedly # Association shouted, “Let’s hear it for NYC IMPACT Member, eater Subdistrict has remained Council; trustee, New York City Police women producers!” 45 steadfast in its e show went on to more NEW Foundation; honorary trustee (after

calls for safe- sta ng WU TOMMY serving on the board for 20 years), Lincoln than break even for those six ratios—the number of Center eater, and co-chair of its Patron weeks, and with regional and patients one nurse can care for during a shift— Committee licensed productions, Roth which its leadership and members say are essential to providing expects the producers to more than quality care to patients. Health care administrators, the union TWO MONTHS after opening Indecent recoup their investment. says, continue to force nurses to take on unsafe levels of patients. in 2017, its lead producer, Daryl Roth produces both Broadway and o -Broadway Under the leadership of Jill Furillo, 68, the union recently won # Roth, 74, made the heartbreaking shows, including seven Pulitzer Prize–winning a signi cant victory after months of bargaining, successfully decision to close the Tony Award– plays, and has won 12 Tony Awards. Kinky Boots, avoiding a wide-reaching nurses strike. e association 48 winning show. Although critically her biggest hit, ran for six years on Broadway, until 2017 announced in April that it had reached a tentative agreement RANK: 42 acclaimed, it was failing to ll the this April. All told, it sold 3 million tickets and for a new contract with Mount Sinai, Monte ore and New 1,082-seat Cort eatre. It was the grossed nearly $320 million, not including revenue York-Presbyterian health systems, a ecting more than 10,000 right duciary decision, but Roth from international productions. nurses. e union said May 1 that its members had rati ed the was deeply regretful. A longtime champion for women in theater, Roth contract, which runs through Dec. 21, 2022. “I truly believe a producer’s job is to believe in a has funded the Creative Spirit Award for 23 years, In addition to across-the-board wage increases of 3% each year show, to be the last person standing,” she said. providing $10,000 annually to a female theater and other bene ts, the contract calls for the initial hiring of 1,500 Roth then decided to extend the show by six artist to develop new work. Roth, known for nurses. at includes $100 million to be allocated to hiring nurses weeks and pledged to cover any losses during that backing shows with strong female characters, said, for full-time positions. e number of nurses per shift will be period personally. “I made some nice money from “People can walk away from my shows and feel based on safe-sta ng ratios enforced by an independent party. Kinky Boots and didn’t want to put my partners in empowered.” — JENNIFER HENDERSON jeopardy,” she said. When an actor announced the — JEANHEE KIM

28 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P028_P029_CN_20190617.indd 28 6/13/19 3:41 PM JANE ROSENTHAL JULIE CEO, executive chairwoman and tainment for Bulgari, MCM, founder, Tribeca Enterprises; Procter & Gamble and SAMUELS producer, Tribeca Productions 23andMe. FACT SHEET Latin America and Rosenthal fosters Founder and executive REPORTED BUDGET $200 million director, Tech:NYC Canada, working with for e Irishman, the biggest a strong commit- publishers such as budget in director Martin ment to social 2018 BUDGET Bloomberg, Condé Nast Scorsese’s career. equality. With % $1.6 million and e New York Times. NYC IMPACT Board member of Proctor & Gamble, 6.6 NYC IMPACT Board In that role, she’s also been Tribeca Studios member, National Coali- Eko, the 9/11 Memorial and PORTION of Fortune 500 a leader of Google’s ambi- Museum and the Child Mind helped create the tion Against Censorship;

CEOs this year who are COLE WILSON tious, recently launched News Queen Collective member, steering committee for Institute; member of Times Up women, more than double Initiative, helping organizations New York to support female Association for a Better New York evolve their business models in a rapidly evolving lm makers; the lm the rate from a decade media world. THE TRIBECA FILM FESTIVAL festival and AT&T’s Untold earlier BACKED BY the industry’s biggest names and One application, Propensity to Subscribe, uses is enough to keep the Stories initiative awards one under- Sources: Pew Research charged with giving the tech sector a larger machine learning to help publishers identify who # average CEO busy, but Jane represented lmmaker $1 million each Center, Fortune # role in public debates, Julie Samuels arrived is likely to pay for content and who isn’t. Last year Rosenthal, 62, is not your year to make a lm. on the New York scene in 2016. Under her Stewart also led the creation of a strategic partner- 49 average CEO. In addition to Tribeca has led the way for all festivals 50 leadership, Tech:NYC has grown quickly— 2017 NEW ship that has Google powering Disney’s video RANK: 27 running Tribeca Enterpris- in the curation of women-directed lms. from ve founding members, including AOL, and display advertising business across multiple es, which oversees the is year all three feature lm competi- Bloomberg and Google, to its current list of channels and brands. — JUDITH MESSINA lm festival and Tribeca tions had 50% of the lms directed by more than 750 companies. Samuels, a Studios, Rosenthal also is on a roll as a pro- women. Rosenthal, who has been active former senior attorney at the Electronic Frontier Founda- ducer with Tribeca Productions, a separate in Times Up New York, has overseen tion and executive director of tech advocacy nonpro t company she founded with Robert De Niro programs for women including rough Engine, has made sure policymakers hear its voice. more than three decades ago. Her Lens: e Tribeca Chanel Women’s e industry advocacy group has asserted its “New York Tribeca Enterprises has expanded its Filmmaker Program. values” on such issues as immigration, the Muslim travel footprint with the Tribeca TV Festival—a In her spare time, Rosenthal was a ban and net neutrality. And it has put out a steady stream of sibling of the lm festival, now in its 18th producer on the monster hit Bohemian white papers and policy briefs on issues that a ect the year. During the past two years, the lm Rhapsody; the Net ix series from Ava business prospects of its members, including government festival formed partnerships with Diageo, DuVernay about the Central Park Five, policy on home-sharing and the need for portable bene ts. Pasternak has shown she Stella Artois, Monte ore, Procter & When ey See Us; and a little project Two months after Amazon pulled out of its plans to is unafraid to take a political Gamble and PwC and renewed a long- called e I r i s h m a n , directed by Martin locate a second headquarters in the city, Tech:NYC formed position. She publicly supported term partnership with AT&T as presenting Scorsese and starring a heavyweight cast a political action committee, Future NYC, and reportedly Christine Blasey Ford during the sponsor. Tribeca Studios has added that includes De Niro, Al Pacino and said it would spend $250,000 in the 2020 state and 2021 Supreme Court hearings for Brett partnerships producing branded enter- Joe Pesci. — S.M. city races. — MATTHEW FLAMM Kavanaugh, urging the country’s cultural leaders to take a stand and saying, “I have been sexually assaulted numerous times, from my teenage years to adulthood.” Mixing the popular and the political is working for the museum. In the past two years, Pasternak has overseen growth in foundation support for education and exhibitions, an increase in corporate sponsors, plus the addition of 15 trustees. Overall audience is up 40%, and there has been 100% growth in membership in the past three years. Since the Frida Kahlo exhibit debuted in February, the museum has added nearly 6,000 members. — STUART MILLER

decision after the curtain that evening, he received an ovation, and an audience member reportedly shouted, “Let’s hear it for women producers!” e show went on to more than break even for those six weeks, and with regional and licensed productions, Roth expects the producers to more than recoup their investment. Roth produces both Broadway and o -Broadway shows, including seven Pulitzer Prize–winning plays, and has won 12 Tony Awards. Kinky Boots, her biggest hit, ran for six years on Broadway, until this April. All told, it sold 3 million tickets and grossed nearly $320 million, not including revenue from international productions. A longtime champion for women in theater, Roth has funded the Creative Spirit Award for 23 years, providing $10,000 annually to a female theater artist to develop new work. Roth, known for backing shows with strong female characters, said, “People can walk away from my shows and feel empowered.” — JEANHEE KIM

JUNE 17, 2019 | CRAIN’S NEW YORK BUSINESS | 29

P028_P029_CN_20190617.indd 29 6/13/19 1:05 PM CRAIN’S MOST POWERFUL WOMEN IN NEW YORK Power surges New jobs, new ventures and new business models put these ve women on our watch list NYU SCHOOL OF LAW GETTY IMAGES GETTY IMAGES GETTY IMAGES BUCK ENNIS

VICKI BEEN AUDREY GELMAN JENNIFER HYMAN JILL KAPLAN WENDY SILVERSTEIN Deputy mayor for housing Co-founder and CEO, Co-founder and CEO, President, New York/ Chief investment o cer, and economic development, e W i n g Rent the Runway New Jersey, United Airlines Ark New York City

2020 PRELIMINARY BUDGET 2018 REVENUE Unknown 2018 REVENUE Reported to be 2018 TOTAL REVENUE CURRENT TOTAL EQUITY CAPITAL $947 million A FORMER PRESS SECRETARY $100 million–plus $37.7 billion $2.9 billion HAVING STEPPED INTO OFFICE for Manhattan Borough President RENT THE RUNWAY ANNOUNCED in WITH THE BOLD MANDATE OF THE WE CO. ANNOUNCED IN MAY just six weeks ago, Vicki Been, Scott Stringer and a 2019 Crain’s March that it received $125 mil- toppling Delta to make United that it had begun a real estate 62, oversees the creation and 40 Under 40 honoree, Audrey lion in a funding round that values the No. 1 airline in the New York investment fund, Ark, with Wendy implementation of Mayor Bill Gelman, 32, started The Wing, the company at $1 billion. It has metro area, United hired Jill Silverstein, 58, in a co-managing de Blasio’s top policy priority: a coworking space and club for received about $540 million in Kaplan, 53, to the new position role. Ivanhoe Cambridge has building and saving below-market women that raised $118 million total nancing. Jennifer Hyman, of regional president. Kaplan had invested $1 billion in Ark, and Sil- housing units. With de Blasio out in venture capital and grew 450% 38, has refocused her 10-year-old spent her entire career in news verstein estimates the fund could of town running for president, last year. The three-year-old club company from its initial concept publishing, including at The Wall buy up to $9 billion in property. the former commissioner for the is not just social but a platform as a renter of evening dresses to Street Journal and Crain’s, through That the city’s largest tenant, val- Department of Housing Preserva- for empowering women. Gelman a subscription clothing service for which she amassed a number of ued at $47 billion, is now buying tion and Development could have noted that The Wing helped everyday wear. It is disrupting the contacts and joined in uential has sent ripples through the plenty of leeway to shape policy launch the political career of state estimated $2.4 trillion fashion trade groups such as the Partner- industry as it awaits Silverstein’s to her vision. — W.B. Sen. Alessandra Biaggi. — J.K. industry. — J.K. ship for New York City. — J.K. rst local acquisition. — D.G.

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30 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019

P030_CN_20190617.indd 30 6/14/19 6:54 PM An Advertising Supplement to Crain’s New York Business HERITAGE HEALTHCARE

Mingling with the healthcare disruptor crowd at Heritage Awards events in 2017 and 2018, Matt Loper, For New York’s healthcare innovators, Wellth’s chief executive and co-founder, wooed two new clients. Both are non-profit networks dedicated to improving patient care and health outcomes. Just a an award for shunning the status quo few months after winning the 2018 Heritage Innovators in Healthcare Award, Wellth completed a $5.1 million financing round in September 2018. Loper called recognition from winning the award a Heritage Provider Network Healthcare Innovation Awards huge factor in building traction with healthcare providers that manage the financial risk of arge patient popuations in value-based contracts. He thinks that recognize those who dare to do things differently the Heritage award added validation to the idea that “for value-based care to truly succeed, payers and providers must create incentives to motivate patients to manage their health.” SINCE 2016, Heritage Provider Network and Crain’s Content Studio— TIMOTHY PECK, MD a division of Crain’s New York Business—have honored more than 100 Co-founder and CEO, Call9 individuals and organizations that have transformed the way healthcare is The untiring persistence of Dr. Timothy Peck earned the emergency medicine physician the 2018 Heri- delivered in New York City. These clinicians, entrepreneurs, administrators tage Innovation in Healthcare Delivery Award. Peck aunched Call9 to spare nursing home residents from and researchers were recognized for having made measurable improve- making avoidable trips to the emergency department. But it takes time for a doctor to learn the ropes about nursing home operations, care delivery and finances. ments in access to care, the quality of care and to long-term affordability. For three months, Peck moved into Central Isand Healthcare in Painview, L.I., sleeping on a cot in the For the past four years, the Heritage Provider Network Healthcare conference room. He tried new ideas, worked through Innovation Awards have been a catalyst for change by bringing together some failures and pressed on with viable solutions. Today telehealth pioneer Call9 transforms care deliv- innovators working to transform the delivery of healthcare in New York. ery operations by embedding emergency telemedicine services at nursing facilities, staffed by remote emergency physicians who work with on-site emer- “How do we help physicians and providers GIL ADDO gency technicians. Since Call9’s founding in 2015, it has do healthcare differently?” said Mark Wagar, Co-founder and CEO, RubiconMD recorded 125,000 first-responder bedside visits and more than 25,000 telemedicine visits. president of Heritage Medical Systems, ex- By the time RubiconMD won the 2017 Heritage Inno- paining the genesis of the Heritage Awards. vators in Healthcare Award, the Manhattan telehealth Winning a Heritage award “advanced the profile of company already had clear validation of its business Call9 among payers, providers and skilled nursing “We need change in New York. Healthcare model: $6 million in funding from investors. But a few facilities,” said Peck. that’s better, faster and more affordable. We months after co-founder and Chief Executive Officer Gil Addo accepted his Heritage award, he secured an- YAOPENG ZHOU have no patience for the status quo.” other direct investment in the company. Heritage Pro- Co-founder and CEO, Smart Vision Labs vider Network, the independent practice association that sponsors the awards program, was so impressed Yaopeng Zhou won the Heritage Technology Innovator by RubiconMD that it funded an expansion to Califor- Award in 2016 in recognition of how Smart Vision Labs nia. Since then, the telehealth company raised another leveraged technology to create scaable improvements $13.8 million. in healthcare delivery. Smart Vision Labs boosts access to vision care using mobile vision technology: a device “Winning the Heritage award has helped us to raise our that can test a customer’s vision in a store, without Series B Funding,” said Addo, who co-founded Rubi- the need for an ophthalmologist or optometrist to be conMD in 2013. “The award broadened our network in present. The mobile device generates an accurate pre- terms of financing and customers.” scription that is sent to a state-licensed professional for review and the customer receives an emailed prescrip- RubiconMD’s e-consult service connects primary care tion within 24 hours. doctors to specialists with same-day access. The model saves money by avoiding costly referrals and testing. It “Convenience is the selling point,” said Zhou, Smart also improves the patient experience, because in many Vision Labs’ co-founder and chief executive officer. cases it saves patients from having to travel to see a spe- The company’s unique mobile technology removes cialist. Customers include health pans, health systems, many of the barriers patients face in accessing an primary care practices, employers’ onsite clinics and eye exam. New Yorkers, of course, are accustomed to community health centers. having an optometrist in most neighborhoods. But RubiconMD’s digital patform lets doctors get opinions that’s not the case in much of the country. Zhou recalls Mark Wagar, president, how, at one rural North Carolina location, people often Heritage Medical Systems from specialists faster, but the interaction also lets the company gather searchable, rich data that would have waited eight weeks to score an appointment with an been lost if just a phone consult had occurred. Addo’s eye specialist. After the store became a Smart Vision Many of the finalists and winners of Heritage Awards goal, he said, is “to support primary care in the best Labs customer, even walk-ins could get an eye exam with no deay. have gone on to hit significant milestones. way possible.” Winning the Heritage award in 2016 put Smart Vision THOMAS FUCHS, PHD MATT LOPER Labs’ innovation in front of many more eyeballs, literally Co-founder and chief science officer, Paige.AI Co-founder and CEO, Wellth and figuratively. Its technology is used in more than 110 optical stores. Before the Heritage award, the Man- Winning a Heritage award also fueled growth at Wellth. Among them is Paige.AI, co-founded by Thomas Fuchs, hattan company’s product was only avaiable at a few The Manhattan company’s incentive-based behavior- winner of the 2018 Heritage award for research in Queens opticians. Today, some 140,000 exams ater, al change program helps patients follow medication transational medicine. In March, Paige.AI was granted Smart Vision Labs products are avaiable at 40 JCPenney and care pans. Its app uses behavioral economics to locations, five Century 21 department stores and in 25 Breakthrough Device designation by the Food and Drug encourage patients—including Medicaid popuations countries. Smart Vision Labs raised $6.1 million in 2015 Administration. In a statement, Fuchs said that the new challenged by chronic conditions such as diabetes, and hasn’t needed to tap additional funding since. Most FDA designation for artificial intelligence in cancer heart failure, COPD and asthma—to take their med- of its revenue is generated by a telehealth model. diagnosis underscored “the groundbreaking nature of ications, test their glucose levels, weigh themselves our technology [and] clinical-grade AI in computational or complete other prescribed activities. Patients are “Two years ago we were still a startup,” said Zhou. pathology to combine vast amounts of high-quality data motivated to use the app through financial and other “Winning a prestigious award opened the company to with unique deep learning architectures.” incentives. a lot of interest.”

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2019_Heritage_Bonus_4.indd 1 6/12/19 10:49 AM Advertising Section Advertising Section CLASSIFIEDS To place a classified ad, Call 212-210-0189 CLASSIFIEDS To place a classified ad, Call 212-210-0189 From: Joanne Barbieri [email protected] or Email: [email protected] or Email: [email protected] Phone: 212-210-0189 Fax: 212-210-0499

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PUBLIC & LEGAL AVENUE LENDER LLC Arts. of Org. send Bldg., P.O. Box 898, Dover, DE 6611 W Snowville Rd, Brecksville, undersigned to sell beer and wine at filed with Secy. of State of NY (SSNY) retail in a restaurant under the Alco- 19903. Purpose: Any lawful activity. NOTICES OH 44141. DE address of LLC: CSC Notice of formation of Firestone Art on 05/01/19. Office location: NY holic Beverage Control Law at 152 251 Little Falls Dr, Wilmington, DE Strategy LLC. Arts of Org filed with County. SSNY designated as agent 2nd Ave, New York NY 10003 for on- 19808. Cert of LLC filed with Secy. Secy. of State of NY (SSNY) on 2/ of LLC upon whom process against it premises consumption. CHIBAOLA Notice of Qualification of ODX, LLC of State of DE loc: 401 Federal St. 4/19. Office location: NY County. may be served. SSNY shall mail proc- Notice of Qualification of PISUN IP INC, DBA: ULUH Appl. for Auth. filed with Secy. of HOLDCO LLC. Authority filed with #4, Dover, DE 19901. Purpose: any SSNY designated agent upon whom ess to Adam R. Sanders, Esq., c/o State of NY (SSNY) on 05/21/19. Of- Secy. of State of NY (SSNY) on 4/ lawful activity. process may be served and shall mail Rosenberg & Estis, P.C., 733 Third fice location: NY County. LLC formed 26/19. Office loc: NY County. LLC copy of process against LLC to 484 Ave., 12th Fl., NY, NY 10017. Pur- Notice of Formation of COLEMAN in Delaware (DE) on 05/14/18. SSNY formed in DE on 1/30/19. SSNY AJB ACQUISITION HOLDINGS LLC. W. 43rd St, NY NY 10036. Purpose: pose: Any lawful activity. MASTER CLASS, LLC Arts. of Org. designated as agent of LLC upon designated agent upon whom proc- Arts. of Org. filed with the SSNY on 0 any lawful act filed with Secy. of State of NY (SSNY) whom process against it may be ess may be served and mailed to: 5/01/19. Office: New York County. on 04/18/19. Office location: NY served. SSNY shall mail process to c 6611 W Snowville Rd, Brecksville, SSNY designated as agent of the LLC /o Corporation Service Co., 80 State County. Princ. office of LLC: 1485 Formation notice: Brattle Street Capi- Notice of Qualification of SRA PRI- OH 44141. DE address of LLC: CSC upon whom process against it may be St., Albany, NY 12207-2543. DE Fifth Ave. - Ste. 27B, NY, NY 10035. tal, LLC. Arts. Of Org filed with SSNY VATE EQUITY PORTFOLIO IV LP Appl. 251 Little Falls Dr, Wilmington, DE served. SSNY shall mail copy of proc- addr. of LLC: 251 Little Falls Dr., Wil- SSNY designated as agent of LLC 5/8/2019. Location: NY County. for Auth. filed with Secy. of State of 19808. Cert of LLC filed with Secy. ess to the LLC, 800 Third Avenue, mington, DE 19808. Cert. of Form. upon whom process against it may be SSNY designated agent upon whom NY (SSNY) on 02/04/19. Office loca- of State of DE loc: 401 Federal St. Floor 11, New York, NY 10022. Pur- filed with Jeffrey W. Bullock, DE, Approval required. Email is the preferred method. Reply your approval to email with attached proof. served. SSNY shall mail process to process may be served & shall mail tion: NY County. LP formed in Dela- #4, Dover, DE 19901. Purpose: any pose: Any lawful purpose. Secy. of State, 401 Federal St., Do- the LLC at the addr. of its princ. of- copy of process against LLC to 22 E ware (DE) on 02/01/19. Duration of Approval is also accepted bylawful signing activity. below and faxing to 212-210-0499. ver, DE 19901. Purpose: Any lawful fice. Purpose: Any lawful activity. 1st St PH06, NY, NY 10003. Pur- LP is Perpetual. SSNY designated as activity. Notice of Qualification of SRA PRI- pose: any lawful act. agent of LP upon whom process Notice of formation of Limited Liability VATE EQUITY PORTFOLIO IV (E&F) LP against it may be served. SSNY shall Crain’s Classi ed is not responsible for corrupt les submittedCompany (“LLC”). by client Name: or Jenkins ads run underAppl. the for wrongAuth. filed subheading. with Secy. of NOTICE OF FORMATION of BUY FIX Notice of Formation of OLZ HOLD- mail process to c/o Summit Rock Ad- Portfolio Companies Manager LLC. Ar- Crain’s Classi ed is not responsible for ads run incorrectly two weeks from publishing dateState ofregardless NY (SSNY) on of 02/04/19. error. Of- FLIP HOUSE TO HOME, LLC. Arts. Of INGS, LLC Arts. of Org. filed with visors, LP, 9 W. 57th St., 12th Fl., ticles of Organization filed with the fice location: NY County. LP formed in Org. filed with Secy of State of NY Secy. of State of NY (SSNY) on 05/ NY, NY 10019. Name and addr. of All disputes must be reported within two weeks of publishingSecretary of Statedate. of the State of New Delaware (DE) on 02/01/19. Dura- (SSNY) on 1/15/19. Office location: 09/19. Office location: NY County. each general partner are available All ads must be approved via e-mail by Wednesday atYork 4:00 (“SSNY”) p.m. onfor June ads 3, to 2019. run N.Y. the followingtion of LPMonday. is Perpetual. SSNY desig- NY County. SSNY designated agent SSNY designated as agent of LLC from SSNY. DE addr. of LP: c/o Corpo- office location: New York County. nated as agent of LP upon whom proc- upon whom process may be served upon whom process against it may be ration Service Co., 251 Little Falls Changes are not permitted to LLC notices after approvalThe SSNY to run. has been designated as ess against it may be served. SSNY and shall mail copy of process served. SSNY shall mail process to Dr., Wilmington, DE 19808. Cert. of agent of the LLC upon whom process shall mail process to c/o Summit against LLC to 270 Convent Ave, 6b, Corporation Service Co., 80 State St., LP filed with Secy. of State, 401 Fed- against it may be served. The SSNY Rock Advisors, LP, 9 W. 57th St., NY, NY 10031. Purpose: any lawful Albany, NY 12207-2543. Purpose: eral St. - Ste. 4, Dover, DE 19901. shall mail a copy of any process to 12th Fl., NY, NY 10019. Name and act Any lawful activity. Purpose: Any lawful activity. Jenkins Portfolio Companies Manager addr. of each general partner are SUBMIT YOUR Signed Approval LLC, c/o Genesis Companies, 594 available from SSNY. DE addr. of LP: Broadway, Suite 804, New York, New c/o Corporation Service Co., 251 Lit- York 10012. Purpose/character of tle Falls Dr., Wilmington, DE 19808. LLC is to engage in any lawful act or Cert. of LP filed with Secy. of State, Wait! Did You Proof Youractivity. Ad Carefully Before Signing401 Federal Off? St. - Ste. 4, Dover, DE BUSINESS CLASSIFIEDS TODAY Approvals Must Be Signed Off By Wednesday at 4:00 pm 19901.Or Ads Purpose: Will Any Not lawful Run. activity. Notice of Qualification of A & B 16 HOLD- INGS LLCThank Appl. for Auth.You. filed with Secy. Notice is hereby given that a license, of State of NY (SSNY) on 05/30/19. Of- number 1318332 for a catering estab- fice location: NY County. LLC formed in lishment on-premises Liquor has Delaware (DE) on 05/23/19. Princ. office been applied for by the undersigned Get your message in front of New York’s in uential AVP/Portfolio Analyst (AllianceBernstein L.P..indd 1 of LLC: 110 E. 30th St., 4th Fl. Front, NY, to sell liquor under the Alcoholic Bev- 6/11/19 12:29 PM NY 10016. SSNY designated as agent of erage Control Law at 226 East 54th LLC upon whom process against it may Street, New York, NY 10022 for on business community with Crain’s New York Business - Classied Ads be served. SSNY shall mail process to c/ premises consumption. o Corporation Service Co. (CSC), 80 State SPACE 54 LLC St., Albany, NY 12207-2543. DE addr. of LLC: c/o Corporation Service Co., 251 Lit- Notice of Qualification of CRAYHILL tle Falls Dr., Wilmington, DE 19808. Cert. Advertising Section PRINCIPAL STRATEGIES PARTNERS II of Form. filed with DE Secy. of State, 401 LLC Appl. for Auth. filed with Secy. of Federal St., Ste. 4, Dover, DE 19901. State of NY (SSNY) on 04/25/19. Of- Purpose: Any lawful activity. fice location: NY County. LLC formed in Delaware (DE) on 04/23/19. SSNY Notice of Qualification of PISUN MO- designated as agent of LLC upon TORS LLC. Authority filed with Secy. whom process against it may be served. SSNY shall mail process to c CLASSIFIEDS of State of NY (SSNY) on 4/26/19. Office loc: NY County. LLC formed in /o Crayhill Capital Management LP, DE on 1/30/19. SSNY designated 34 E. 51st St., 15th Fl., NY, NY agent upon whom process may be 10022. DE addr. of LLC: c/o Corpora- served and mailed to: 6611 W tion Service Co., 251 Little Falls Dr., To place a classified ad, Call 212-210-0189 Snowville Rd, Brecksville, OH 44141. Wilmington, DE 19808. Cert. of Form. DE address of LLC: CSC 251 Little filed with Secy. of State of DE, Dept. or Email: [email protected] Falls Dr, Wilmington, DE 19808. Cert of State, Div. of Corps., John G. Town- of LLC filed with Secy. of State of DE send Bldg., 401 Federal St., Ste. 4, loc: 401 Federal St. #4, Dover, DE Dover, DE 19901. Purpose: Any law- 19901. Purpose: any lawful activity. ful activity.

32 | CRAIN’S NEW YORK BUSINESS | JUNE 17, 2019 PUBLIC & LEGAL NOTICES

P032_P033_CN_20190617.indd 32 6/13/19 12:35 PM Advertising Section To place a classified ad, Call 212-210-0189 CLASSIFIEDS To place a classified ad, Call 212-210-0189 or Email: [email protected] or Email: [email protected]

PUBLIC & LEGAL NOTICES PUBLIC & LEGAL NOTICES

SoHo Alchemy LLC filed Arts. of Org. NOTICE OF FORMATION of NOIR NOTICE OF FORMATION of DHG MEXI- 11 LUTHERAN OWNERS LLC, Arts. of Notice of Formation of QWOTED LLC NOTICE OF QUALIFICATION with the Sect’y of State of NY (SSNY) BLOOM LLC. Arts. Of Org. filed with CO, LLC. Art. of Org. filed with the Org. filed with the SSNY on 05/ Arts. of Org. filed with Secy. of State of of Zhen Dim Sum LLC. Authority on 5/1/19. Office: NY County. SSNY Secy of State of NY (SSNY) on 2/ Secy of State of NY (SSNY) on 1/ 03/2019. Office loc: NY County. NY (SSNY) on 04/19/19. Office loca- filed with Secretary of State of NY has been designated as agent of the 6/19. Office location: NY County. 17/18. Off. Loc.: NY County. SSNY SSNY has been designated as agent tion: NY County. Princ. office of LLC: (SSNY) on 3/7/19. Office location: LLC upon whom process against it SSNY designated agent upon whom has been desig. as agent upon whom upon whom process against the LLC 22 W. 38th St., 9th Fl., NY, NY 10018. NY County. LLC formed in DE on may be served and shall mail process process may be served and shall mail process against it may be served. The may be served. SSNY shall mail proc- SSNY designated as agent of LLC upon 8/14/18. SSNY designated agent to: The LLC, c/o Anthony W Termine, copy of process against LLC to 451 E address to which the SSNY shall mail ess to: The LLC, 465 Tenth Ave., 2nd whom process against it may be upon whom process may be M.D., PC, 84-90 Sullivan St, NY, NY 102nd St, Apt 4B, NY, NY 10029. a copy to is: c/o Dahan & Nowick Floor, NY, NY 10018. Purpose: Any served. SSNY shall mail process to the served & mailed to: 865 Amsterdam 10012. Purpose: any lawful act. Purpose: any lawful act. LLP, 123 Main St, 9th Flr, White Lawful Purpose. LLC at the addr. of its princ. office. Pur- Ave., 8B NY, NY 10025. Principal Plains, NY 10601. Purpose: Any law- pose: Any lawful activity. business address: 367 W 36th St, ful act. NY, NY 10018. Cert. of LLC filed Notice of Qualification of FIDUCIARY with Secretary of State of DE JLT SPRING, LLC, Arts. of Org. filed NETWORK, LLC Appl. for Auth. filed Notice of Qualification of PISHIELD loc: 401 Federal St. #4 Dover DE with the SSNY on 11/16/2016. Of- LLC. Authority filed with Secy. of with Secy. of State of NY (SSNY) on 0 Notice of Formation of 16E18 CAPI- 19901. Purpose: Any lawful activity. fice loc: NY County. SSNY has been 4/29/19. Office location: NY County. State of NY (SSNY) on 4/26/19. Of- TAL, LLC Arts. of Org. filed with Secy. Notice of Qualification of ArtClass, designated as agent upon whom proc- LLC formed in Delaware (DE) on 05/ fice loc: NY County. LLC formed in DE of State of NY (SSNY) on 05/20/19. LLC Appl. for Auth. filed with Secy. of NOTICE OF QUALIFICATION of Scott ess against the LLC may be served. 03/06. SSNY designated as agent of on 1/30/19. SSNY designated agent Office location: NY County. SSNY des- State of NY (SSNY) on 05/03/19. Of- Young Golf Limited Liability Company. SSNY shall mail process to: Jack LLC upon whom process against it upon whom process may be served ignated as agent of LLC upon whom fice location: NY County. LLC formed Authority filed with Secy. of State of Terzi, 362 5th Ave 12FL, NY, NY may be served. SSNY shall mail proc- and mailed to: 6611 W Snowville Rd, process against it may be served. in California (CA) on 01/16/18. Princ. NY (SSNY) on 6/13/18. Office loc: 10001. Reg Agent: Jack Terzi, 301 E ess to c/o Corporation Service Co. Brecksville, OH 44141. DE address SSNY shall mail process to Timothy office and CA addr. of LLC is: 15021 NY County. LLC formed in NJ on 09/ 53rd St., Apt 2C, NY, NY 10022. Pur- (CSC), 80 State St., Albany, NY of LLC: CSC 251 Little Falls Dr, Wil- P. Terry, c/o The Hartz Group, Inc., Ventura Blvd., Ste. 548, Sherman 08/14. SSNY designated agent upon pose: Any Lawful Purpose. 12207-2543. DE addr. of LLC: CSC, mington, DE 19808. Cert of LLC filed 667 Madison Ave., 24th Fl., NY, NY Oaks, CA 91403. SSNY designated whom process may be served & 251 Little Falls Dr., Wilmington, DE with Secy. of State of DE loc: 401 10065. Purpose: Any lawful activity. as agent of LLC upon whom process mailed to: 119 Oakview Ave, 19808. Cert. of Form. filed with Secy. Federal St. #4, Dover, DE 19901. Pur- against it may be served. SSNY shall Maplewood NJ 07040. Principle busi- of the State of DE, c/o The DE Dept. pose: any lawful activity. mail process to the LLC, 174 Hudson ness address: 245 Park Ave, NY NY Notice of Formation of 132 SECOND of State, Div. of Corps., John G. Town- St., 6th Fl., NY, NY 10013. Cert. of 10167. LLC filed with Dept. of Treas- AVENUE LENDER LLC Arts. of Org. send Bldg., P.O. Box 898, Dover, DE Notice of Qualification of SREF IV 521 Form. filed with Alex Padilla, Secy. of ury of NJ loc: PO Box 002, Trenton NJ filed with Secy. of State of NY (SSNY) 19903. Purpose: Any lawful activity. FIFTH AVENUE CO-INVEST, L.P. Appl. State of CA, 1500 11th St., Sacra- 08625. Purpose: Any 0000354322 on 05/01/19. Office location: NY for Auth. filed with Secy. of State of NY Notice of Qualification of BYRON RE- mento, CA 95814. Purpose: Produc- County. SSNY designated as agent (SSNY) on 05/14/19. Office location: AL ESTATE, LLC Appl. for Auth. filed tion company. of LLC upon whom process against it Notice of Qualification of ODX, LLC NY County. LP formed in Delaware (DE) with Secy. of State of NY (SSNY) on 0 Notice of Qualification of RGN-NEW may be served. SSNY shall mail proc- Appl. for Auth. filed with Secy. of on 05/02/19. Princ. office of LP: 430 4/18/19. Office location: NY County. YORK XXVII, LLC Appl. for Auth. filed ess to Adam R. Sanders, Esq., c/o State of NY (SSNY) on 05/21/19. Of- Park Ave., 12th Fl., NY, NY 10220. Du- LLC formed in Delaware (DE) on 03/ with Secy. of State of NY (SSNY) on Rosenberg & Estis, P.C., 733 Third fice location: NY County. LLC formed ration of LP is Perpetual. SSNY desig- 28/19. NYS fictitious name: BYRON 04/08/19. Office location: NY Coun- Ave., 12th Fl., NY, NY 10017. Pur- in Delaware (DE) on 05/14/18. SSNY nated as agent of LP upon whom proc- RENY, LLC. SSNY designated as ty. LLC formed in Delaware (DE) on 0 pose: Any lawful activity. designated as agent of LLC upon ess against it may be served. SSNY agent of LLC upon whom process Notice od Formation Of Avance Organ- 4/04/19. SSNY designated as whom process against it may be shall mail process to Corporation Serv- against it may be served. SSNY shall izing L.L.C. Arts. Of Org. filed with agent of LLC upon whom process served. SSNY shall mail process to c ice Co., 80 State St., Albany, NY mail process to c/o Corporation Serv- Secy of State of NY(SSNY) on 02/ against it may be served. SSNY shall /o Corporation Service Co., 80 State 12207-2543. Name and addr. of each 8/19. Office location: NY County. mail process to c/o Corporation Serv- Notice of Qualification of SRA PRI- ice Co. (CSC), 80 State St., Albany, St., Albany, NY 12207-2543. DE general partner are available from SSNY designated agent upon whom ice Co., 80 State St., Albany, NY VATE EQUITY PORTFOLIO IV LP Appl. NY 12207-2543. DE addr. of LLC: c/ addr. of LLC: 251 Little Falls Dr., Wil- SSNY. DE addr. of LP: 251 Little Falls process may be served and shall mail 12207-2543. DE addr. of LLC: 251 for Auth. filed with Secy. of State of o CSC, 251 Little Falls Dr., Wilming- mington, DE 19808. Cert. of Form. Dr., Wilmington, DE 19808. Cert. of LP copy of process may be served and Little Falls Dr., Wilmington, DE NY (SSNY) on 02/04/19. Office loca- ton, DE 19808. Cert. of Form. filed filed with Jeffrey W. Bullock, DE, filed with Secy. of the State of DE, shall mail copy of process against 19808. Cert. of Form. filed with tion: NY County. LP formed in Dela- with Jeffrey W. Bullock, Secy. of Secy. of State, 401 Federal St., Do- John G. Townsend Bldg., 401 Federal LLC to 347 5th Ave, Suite 1402-375, Secy. of State, 401 Federal St., Ste. ware (DE) on 02/01/19. Duration of State, John G. Townsend Bldg., 401 ver, DE 19901. Purpose: Any lawful St., Ste. 4, Dover, DE 19901. Pur- NY, NY10016. Purpose: any lawful 4, Dover, DE 19901. Purpose: Any LP is Perpetual. SSNY designated as Federal St. - Ste. 4, Dover, DE activity. pose: Any lawful activity. act. lawful activity. agent of LP upon whom process 19901. Purpose: Any lawful activity. against it may be served. SSNY shall mail process to c/o Summit Rock Ad- visors, LP, 9 W. 57th St., 12th Fl., NY, NY 10019. Name and addr. of each general partner are available from SSNY. DE addr. of LP: c/o Corpo- ration Service Co., 251 Little Falls Dr., Wilmington, DE 19808. Cert. of LP filed with Secy. of State, 401 Fed- eral St. - Ste. 4, Dover, DE 19901. Purpose: Any lawful activity. SUBMIT YOUR BUSINESS CLASSIFIEDS TODAY

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JUNE 17, 2019 | CRAIN’S NEW YORK BUSINESS | 33

P032_P033_CN_20190617.indd 33 6/13/19 12:35 PM CNYB_FullPage.indd 1 6/13/2019 3:49:20 PM GOTHAM GIGS

KIDS IN DAVIS’ courses build competition-worthy robots. BUCK ENNIS

PAMELA DAVIS Healing through learning BORN Little Rock, Ark. GREW UP Mount Vernon Veteran educator teaches robotics to children coping with trauma RESIDES New Rochelle BY JONATHAN LAMANTIA trauma and those contending with Davis’ volunteer work at Gilda’s EDUCATION Bachelor’s in poverty or unstable housing. Club evolved into relationships “ONCE YOU’VE English literature, Rutgers amela Davis knew that she Davis has a history with health with such organizations as the WON TOGETHER University–Newark; master’s in wasn’t going to be able to issues. She had her rst seizure and American Cancer Society and the education, the College of New sit still as she recovered was diagnosed with epilepsy at 10 West Harlem Development Corp., AND FAILED Rochelle; doctor of education from breast cancer a few years old—which led to her interest which pay her to run robotics ses- in instructional media and Pyears ago. in science and technology. sions. She also has o ered courses TOGETHER technology, Columbia University’s “I wasn’t strong enough to go “ e fact that I was a sick kid and at Riverside Freedom School in Teachers College back to work, but I wasn’t the type had a fascination with the brain, Manhattan. AND CREATED JOIN THE CLUB Davis’ of person who could sit in my that grew into an interest in AI,” By collaborating with social community partner, Gilda’s Club, house and not be purposeful,” she Davis said. “ at drew me to robots workers, Davis believes she can SOMETHING was founded in 1995 following explained. and robotics.” make children more amenable to the death of comedian Gilda In the summer of 2016, she be- She spent 18 years as a computer counseling. For example, one child UNIQUE Radner. The group provides gan feeling well enough and her teacher in the Elmsford school dis- who took Davis’ course was initial- WITH A TEAM, social and psychological support immune system was no longer too trict in Westchester. She then be- ly resistant to counseling but end- to people with cancer and their compromised for her to be around came a consultant to several com- ed up growing comfortable with YOU BOND” families to replicate a support children. She then put her 25 years munities, helping them set up therapy after meeting a counselor group Radner attended on the of teaching experience to use by robotics contests for kids through at Gilda’s Club. West Coast. starting a robotics course at Gilda’s the First Lego League, a global ro- Up next for Davis is trying to se- Club Westchester in White Plains botics competition that helps orga- cure research funding and partner- SPACE AGE Davis is an for children who have been a ect- nize regional tournaments. ships with more nonpro ts to reach instructor at NASA Endeavor’s ed by cancer. “Robots and Legos can be a way a bigger audience. She’s also apply- STEM teaching certi cate at initiative has developed into to bring people together,” Davis ing for grants that could validate program in Rye, leading courses Wellbotics, a nonpro t Davis start- said. “Once you’ve had the trial and the use of robotics to help children on coding and robotics for ed to bring robotics classes to kids error and won together and failed cope with stress. teachers and administrators. with a sick family member as well together and created something “Our biggest challenge,” Davis as those who have experienced unique with a team, you bond.” said, “is expanding to scale.” ■

JUNE 17, 2019 | CRAIN’S NEW YORK BUSINESS | 35

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