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Mediaexec Pay: What Goes Up, Stays up Bus Battle Hits the Streets

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Mediaexec Pay: What Goes Up, Stays up Bus Battle Hits the Streets 20120423-NEWS--0001-NAT-CCI-CN_-- 4/20/2012 8:43 PM Page 1 INSIDE GREG DAVID PRINCIPLE TOP STORIES BEFORE COMPROMISE ON ‘LIVING ® WAGE’ PAGE 11 VOL. XXVIII, NO. 17 WWW.CRAINSNEWYORK.COM APRIL 23-29, 2012 PRICE: $3.00 Jazz museum hits high note in Harlem Media exec PAGE 2 Real estate reality pay: What shows have brokers going bonkers goes up, MICHAEL GROSS, PAGE 2 Move over, Silicon stays up Alley: Brooklyn’s tech scene heats up Zeitgeist, shmeitgeist. PAGE 3 Moguls enjoy outsize Diners, starved for salaries while bankers customers, fade feel pressure to cut away in boroughs SMALL BUSINESS, PAGE 9 BY MATTHEW FLAMM Citigroup got a big slap across the face last week when shareholders voted against Chief Executive Vikram Pan- dit’s proposed $15 million pay pack- age. If investors are looking for anoth- er target, they might check out media companies, some of whose CEOs are raking in more than top bankers did during the housing bubble. Case in point: CBS Corp.’s Leslie Moonves, whose $68.4 million pay package in 2011 made him the best- paid media executive in the country— BUSINESS LIVES and outdid the $54 million that Gold- man Sachs chief Lloyd Blankfein took GOTHAM GIGS home in 2007. The S.I.Yankees’ IN THE SADDLE: Keith See MEDIA on Page 36 power hitter P. 37 Kantrowitz and his big-time backers hope to replicate ● ANNE FISHER A boost their upstate success in NYC. for women tech buck ennis entrepreneurs P. 37 Bus battle ● MOVERS & SHAKERS For Lee Feldman,there’s no place like home P. 38 hits the ● GAEL GREENE Real Szechuan—and no A SIRO’S SUM GAME MSG P. 39 streets Racing-themed restaurant’s investors INDEX An upstart’s rent-free place bet on low-traffic Second Avenue curbside service drives NEW YORK, NEW YORK _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _6 THE INSIDER _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _8 office tower located between East 47th and 48th big coach lines nuts VIEWPOINT _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _10 BY LISA FICKENSCHER streets has scared off many potential tenants. Its last NEIGHBORHOOD JOURNAL _ _ _ _ _ _ _ _ _ _ _ _ _12 two occupants, steakhouses Ruth’s Chris and Blair New York Yankees pitcher Mariano Rivera had lit- Perrone, closed after brief runs because they BY DANIEL MASSEY REAL ESTATE DEALS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _12 tle in common with the 15 or so lawyers, account- couldn’t attract enough customers. Some of the in- FOR THE RECORD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _18 ants and other executives he met with about a year vestors wanted assurances that the Yankees hurler Last week,Rafael Olavarria stopped in CLASSIFIEDS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _34 ago in a vacant restaurant at 885 Second Ave. But would use his star power to promote the business. the Port Authority Bus Terminal to EXECUTIVE MOVES _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _37 they were all gathered for the same purpose: to dis- “I asked him how engaged he’d be in the restau- buy water and chips for a trip to Balti- THE WEEK AHEAD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _39 cuss opening a restaurant together in the building. rant,” said Martin Scheinman, a labor-management more. He then went to find his bus— The 15,000-square-foot space at the base of an See SIRO’S on Page 33 not in the depot itself but outside it,on West 41st Street between Eighth and Ninth avenues. There, he joined a line 17 5 REPORT EDUCATION of two dozen passengers on the side- walk, where Megabus.com has set up STARTUPS 101: New York schools step up shop in recent months. ELECTRONIC EDITION support of budding entrepreneurs P. 13 “I searched and Megabus was the one with the best price,” said the 22- THE LIST: Largest M.B.A. programs P. 15 year-old student from Venezuela, who NEWSPAPER See BUS BATTLE on Page 36 71486 01068 0 20120423-NEWS--0002,0003-NAT-CCI-CN_-- 4/20/2012 8:45 PM Page 1 COMMENTARY Museum hopes new facility Unreality will jazz up music lovers Harlem institution television aims for high note few days ago, one of New York’s top with a $22M push real estate agents had a meltdown in his to increase space office, frothing over the new Bravo re- ality show Million Dollar Listing New BY MIRIAM KREININ SOUCCAR York. He’d been set off by a scene in which one of its broker-stars looks into the camera The National Jazz Museum,a tiny op- A eration in Harlem, is moving forward and says lying is part of the job of selling luxury res- with its plan to build a state-of-the- idences.“I don’t think it is funny,”the broker fumed. art facility on West 125th Street that it hopes will turn it into the first insti- “It’s a culture checked in with tution of international stature devot- change.” some other realty ed to the art form. Change is nec- players to see if The 10-year-old museum, which essary, the saying they agree. exhibits jazz memorabilia and runs goes. Change is Brown Harris educational programs and shows good. Change or Stevens Manag- throughout the city, now operates out die.And as shelter ing Director of the second and fourth floors of a porn has spread John Burger says small building on East 126th Street. like ivy over the his firm pro- But two years ago,the city tapped it to once-prim façade hibits its brokers become part of a new 67,000-square- of high-end from appearing foot commercial CHRISTOPHER SWINGING BY PERRY has been American real es- MICHAEL on these shows, and cultural de- hired as the tate, change is GROSS as do several oth- velopment that National Jazz everywhere. The er top-tier shops. will be built Museum’s Wall Street Journal Comparing across the street 20K executive director. devotes a weekly column to himself and his colleagues to from the Apollo NUMBER OF who is selling what. Retired private bankers serving Theater. broker Barbara Corcoran wealthy clients who “insist on The Upper PEOPLE who pimps luscious listings on the discretion, professionalism Manhattan attended Today show. And the Times is and empathy,” he added, “I Empowerment museum’s so obsessed with the details of don’t think those characteris- Zone is expect- programs in ’11 divorce, stealth and wealth tics are reflected by the stars ed to finally swirling around the $88 mil- of those series.” choose a devel- lion sale of a 15 Central Park Jed Garfield, son of the oper for the site by the end of the buck ennis penthouse, one might think it founder of Leslie J.Garfield,a month, say museum executives, who was turning into a tabloid. boutique specializing in Man- aim to break ground in 2013. Mean- 20,000 people attend its programs Loren Schoenberg, a jazz musician But if you’re looking for the hattan town houses,spurned a while, the museum is going public last year. “We want to create a who was the museum’s longtime dirty laundry of luxury realty, chance at sleazy stardom—he with a $22 million capital campaign destination.” executive director, to become its reality TV is the place to go. was offered a spot on Selling— that will raise the funds needed to To get ready for the expansion,the artistic director and have more time Before that broker’s melt- and doesn’t regret it. But he build the facility and create a $2.5 mil- museum is building its staff. In Janu- to focus on programming. down, I hadn’t also admits there’s lion endowment. The museum has ary, it hired a new executive director, watched Bravo’s Says a broker: some truth in the raised half the money since it started Christopher Perry, an attorney who ‘Interactive experience’ show—which portrayal of his the quiet phase a year and a half ago.
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