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Meet the Busiest Developer in the City

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Meet the Busiest Developer in the City 20100405-NEWS--0001-NAT-CCI-CN_-- 4/2/2010 8:31 PM Page 1 INSIDE Financial reform’s TOP STORIES delicate task —Kathryn Bra manufacturer Wylde of the Maidenform needs Partnership for New no extra padding ® York City PAGE 2 Page 11 redux Macy’s parade VOL. XXVI, NO. 14 WWW.CRAINSNEWYORK.COM APRIL 5-11, 2010 PRICE: $3.00 route: It’s still up in Meet the the air busiest PAGE 2 Restaurants offer developer job security? Who knew? in the city PAGE 3 Web sites ramp up Gary Barnett has little fight for women debt, pots of cash and PAGE 3 a fair share of secrets Two dance troupes BY THERESA AGOVINO learn a new step: visitors can tour Gary Barnett’s real merging companies estate empire without ever leaving his PAGE 4 midtown office. A model of his nearly completed condo, 535 West End Avenue, sits just inside the door. Across the room is a mock-up of a hefty slice of the Upper BUSINESS LIVES West Side that includes the two towers he’s already built there, the two under construction and the five he hopes to start in the future.Nearby are models of the hotel/condo he’s putting up on West 57th Street and the 34-story tow- er going up in the diamond district. At a time when the credit crunch and recession have pushed many expe- rienced developers to the sidelines and inexperienced ones to the poorhouse, the ability of Extell Development Co.’s GOTHAM GIGS See BUSIEST on Page 21 Spring in bloom at the makeup counter P. 23 G ANNE FISHER says an ounce of prevention is a good investment P. 23 Street feeds steve munday G MOVERS & SHAKERS The cat lady finds her NY spending niche in medicine P. 24 G GAEL GREENE makes a addiction case for Mia Dona P. 26 TECH TOWN Bankers pitch Albany INDEX Silicon Alley isn’t ‘back’; it never left. And it’s on creative financing. THE INSIDER _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _8 rocking. Why Shake Shack is the new Michael’s Lottery bonds, anyone? SMALL BUSINESS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _9 GREG DAVID _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _11 The move was made possible by an offer from a BY AMANDA FUNG BY AARON ELSTEIN REAL ESTATE DEALS PLUS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _12 bigger tech-driven marketing firm,which let Trend- sta rent space in its offices at a steep discount in re- CLASSIFIEDS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _18 trendsta, a firm that helps marketers promote turn for online services. For Matt Myers,Trendsta’s with new york state in dire econom- FOR THE RECORD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _20 products through online social networks, left East co-founder, the arrangement provided an opportu- ic straits, Wall Street’s ever-so-creative EXECUTIVE MOVES _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _23 Williamsburg, Brooklyn, last month for a new loft- nity not just to collaborate with an established in- bankers are here to help.They’re pitch- THE WEEK AHEAD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _26 like office in Manhattan’s Flatiron district. The dustry player but also to move to center stage. ing Albany politicians new ways to pa- THE WEEK ON THE WEB _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _27 space has all the high-tech hallmarks, including a “The business is all cooperative,” says the serial per over a $9 billion budget shortfall— Ping-Pong table and a mini-fridge chockful of beer. See SILICON ALLEY on Page 22 and pocket big fees in the process. Their financing and restructuring plans for the cash-starved state include 14 5 selling future lottery-ticket sales to in- REPORT EMPLOYMENT vestors in exchange for money upfront, City’s huge health care jobs machine rolls privatizing the Tappan Zee Bridge,and ELECTRONIC EDITION greatly expanding the borrowing ca- onward. Why immigrants are gaining ground pacity of the Port Authority of New York and New Jersey. Some of these NEWSPAPER PAGES 13-17 See NY’S SPENDING on Page 22 71486 01068 0 20100405-NEWS--0002,0003-NAT-CCI-CN_-- 4/2/2010 8:18 PM Page 1 IN BRIEF DEAN POLL, THE NEW OPERATOR OF TAVERN ON THE GREEN, AND HOTEL UNION HEAD Peter Ward have not been able to reach an agreement for a labor contract covering the 400 workers at the now-closed restaurant, prompting the city to try and break the impasse. According to people familiar with the situation, Deputy Mayor Edward Skyler late last month brokered a meeting between the two. “The city is working with both sides for a speedy resolution so this world-class institution can reopen its doors,” said a spokesman for Mayor Michael Bloomberg. Mr. Poll acknowledged a recent flurry of meetings, though he would not say if progress had been made.The union declined to comment. BY THE NUMBERS Weekly shift of the city’s economy SHORT AND SWEET Most markets took Friday off after posting solid gains fueled by signs of a global recovery. But Friday’s bullish job-gain figures fanned fears that interest rates may rise. $75.6M 59.6 +31% B’WAY TICKET LEVEL of SURGE in receipts in 4 manufacturing Primerica shares weeks ended index in March, on first day of 3/28, up 5.7% showing fastest trading after CASHING IN vs. a year earlier growth in 5 years spinoff from ON CURVES: Source: The Source: Institute for Citigroup Maidenform’s Broadway League Supply Management Source: NYSE chief executive, Maurice Reznik RIDERS UP DOWN UNDER After months of ever-smaller declines, the number of people using the city’s subway system actually turned up in January. buck ennis The magic is in the fit enform. After a successful year—the $466 Profits swell at Maidenform as it million company reported a net income in 2009 of $37 million, a 50% rise over December 2009 figures are not available. 2008—the company initiated a share re- Source: Metropolitan Transportation Authority expands offerings, revamps Web site purchase program last month. Its stock CORRECTIONS mall, Maidenform specialists are going price hit a two-year high of $22.57 last BY ADRIANNE PASQUARELLI door to door,Avon Lady-style,selling such week. Meanwhile, the company’s quarter- A photo appearing in “The Insider” column on March 29 was misidentified as newly elected City Councilman David Greenfield. magical items as a bra that can enlarge ly revenue growth is exceeding that of such get ready,ladies; the Bod Squad is com- women by two cup sizes. Poof! competitors as Hanesbrands Inc. Under the federal health bill, subsidies are available for companies with fewer than 50 employees that offer coverage. ing to a mall near you.Maidenform Brands “It’s like a never-ending quest to find Not satisfied, Maidenform—which The March 29 story “What’s in health bill for NY biz” misstated the Inc. is trying to boost sales of its the perfect bra,” says Chief Executive sells its garments at chains from Macy’s maximum number of employees. shapewear—corsetlike undergarments de- Maurice Reznik, who showed off some of and Bloomingdale’s to Target and Wal- NFL Executive Vice President Jeff Pash’s name was misstated in signed to make a woman appear slim- his new products last week at the compa- Mart—wants a bigger slice of the $10.1 the March 29 profile of Jay Bauman. mer—by leasing shopping center “Bod ny’s Madison Avenue showroom. billion intimate apparel market. It’s using Ariel Deckelbaum is deputy chair of the corporate department at Squad” kiosks. It also hopes to lure teens At 88, the Iselin, N.J.-based firm is new merchandise and marketing ploys, Paul Weiss Rifkind Wharton & Garrison. His department was with its new “Charmed” intimates line. decades older than most of its customers, along with an expanded e-commerce site, misstated in his profile in the March 29 issue. Also, his And for women who hate shopping at the but this is not your grandmother’s Maid- See MAGIC on Page 21 grandmother fled to Israel after the Communist takeover of Bulgaria.
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