Pop! WHEN AJUICE CARROT TOP? CRAIN’S TIFFANY’S METRICS RIVAL P

20140804-NEWS--0001-NAT-CCI-CN_-- 8/1/20147:35PMPage1 says oneprognosticator. That’s about17% higher will beblowingbubbles, H & 500INDEX THE S&P

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istock POINT AT WHICH 2,250 VOL. XXX,NOS.31, 32 NEWSPAPER P. 5 P. BAR’S REVENUE Pop! WHEN AJUICE CARROT TOP? CRAIN’S TIFFANY’S METRICS RIVAL P. 27 P. Bubble E OKBUSINESS YORK NEW WWW.CRAINSNEWYORK.COM PER SQUAREFOOT similar tonumbers AVERAGE SALES AVERAGE o ifn Co. & for Tiffany $3K+ at JuicePress, Issue The Pop! AOL ISNOTLIKE WHY THENEW BUBBLE BOY: THE OLDAOL ORIGINAL P. 26 THE TECH MECCA WOULD-BE ISLAND: STATEN P. 27 crowdfunding, New crowdfunding, to themadnessof York a resembles stock run-ups bubble town From manic From ® biotechnology and social-media stocks look andsocial-mediastocks “substantiallybiotechnology tece, andnotingabroader “deterioration inlending stretched,” Yellen is warning of bubbles, saying last month that prices for lastmonththatprices saying Yellen iswarning ofbubbles, tnad, seilyt esceiwrh opne.¶Allthat to less-creditworthy companies. especially standards,” hn.¶Evensober-sidedFederal ChairmanJanet Reserve China. chatter has led to a certifiable bubbleinmentionsofthe chatter hasledtoacertifiable estate, small-cap stocks, fine art andjustaboutanymarket in fineart stocks, small-cap estate, B-word.The term “market bubble”is onpace toappear2,559 term “marketB-word.The bubble”is n rwfnig hnteeaeteuulsset:real and crowdfunding? Then there are theusual suspects: ie nEgihlnug ei hsya,accordingto times inEnglish-languagemediathisyear, and Uber. And who can forget Bitcoin, artisanal foods artisanal forgetBitcoin, And whocan and Uber. Crain’s THERE ANYLIMITTO PAY FORAPIECEOF orn auso ehnmslk ibb Snapchat valuesoftechnameslikeAirbnb, soaring SUPER-RICH WILL SUPER-RICH eodo ,4 uhmnin,italsowould record of2,448suchmentions, HOW MUCHTHE LAND GRAB! IS GRAB! LAND or imagined examples can befoundinthe or imaginedexamplescan NEW YORK? ersn 3 upoe 20,when there represent a73%jumpover 2006, ube itrtenw hs as Real thesedays. Bubbles litterthenews research. That would not only break lastyear’s Thatwouldnotonly research. P. 26 P. was agenuinemarket bubble. PAGES 2,11 atrisk strategy Guv’s landslide DEFLATES BUBBLE CUOMO’S POP? in average pricesfor in average ONE-YEAR SPIKE +31% buildable land in Manhattan See WELCOMEonPage5 BY AARON ELSTEIN BY AARON DOUBLE ISSUE TO WATCH BIOTECHS Pop! 6 NYC P. 12 AUGUST 4-17, 2014 PRICE:$3.00 20140804-NEWS--0002-NAT-CCI-CN_-- 8/1/2014 6:54 PM Page 1

REPORTER’S NOTE

Doubling down FYICRAINSNEWYORK.COM

July is usually sleepy in New York politics. Even so, Gov. Andrew City to Elmo: Get your Cuomo’s press shop maintains a steady flow of announcements to paws off the tourist lady reporters, averaging about 20 a lmo, Spider-Man and other week during that month. But after costumed characters parading The New York Times’ investigation around Times Square need to be Andrew J. Hawkins into his alleged interference in a E taught a lesson, lawmakers say. ¶ A recent state anti-corruption commission, spike in complaints of characters harassing Mr. Cuomo’s press office doubled tourists has city officials cracking down on its pace. I tweeted that the Second Floor was firing the impersonators. Most recently, a on all cylinders. Others noticed, too. “Empty the panhandler dressed as Spider-Man was hatches!” tweeted Business Insider reporter Colin arrested for punching a cop in the face Campbell.The governor’s office called me, saying after officers confronted him for there was nothing unusual going on. A challenge was overcharging tourists for photos. ¶ Even samuelson katrina issued to prove otherwise. We accepted. We counted Sesame Workshop has joined the campaign.The company is considering legal action against 39 press releases from July 23—the day of the Times performers dressed as Elmo and Cookie Monster who are running amok. ¶ “We care about our bombshell—through July 30, from the arguably fans and the image of our brand, and, like everyone else, we care about public safety on our important (“Governor Cuomo Directs State Labor streets,” the nonprofit said. ¶ The city is in the process of drafting legislation to clamp down on the Commissioner to Convene Wage Board”) to the costumed characters. As details are being hammered out, the issue at hand is whether these feel-good (“Governor Cuomo Signs Legislation to impersonators are performers protected by the First Amendment or solicitors engaged in Strengthen Penalties for Theft and Mistreatment of commercial activity. Under Mayor Bill de Blasio and Police Commissioner Bill Bratton, there has Pets”). Mr. Cuomo’s press people had produced 21 been an increase in arrests of aggressive panhandlers across the city. ¶ Mr. de Blasio recently releases the previous week, 14 the week before that announced his support of regulating the costumed characters and wants them to be licensed. and 20 during the first week of July. Our post-Times- story seven-day tally also exceeded the July 2013 LYFT ISSUES. After weeks of threat- plan. … NORDSTROM ON STATEN ISLAND. HOORAY! pace of 22 statements a week. Meanwhile, the man ening to launch in New York City, A 34,000-square-foot ride-sharing app Lyft was permitted Nordstrom Rack store will open at MORE THAN A himself remained elusive. Mr. Cuomo did not appear to operate here, provided its drivers the future Empire Outlets on Staten DECADE after in public until five days after the Times story are licensed by the Taxi and Limou- Island. The discount retailer will the National Horse Show left dropped, when he took 30 minutes of reporters’ sine Commission.To lure more driv- anchor the new mall, which will be Madison ers, Lyft is offering them as much as located right next to a 625-foot Fer- Square Garden, questions on the Moreland Commission. On the $10,000 a month to work 60-hour ris wheel—among the world’s a four-day equestrian final day of the month,Team Cuomo responded to weeks.… NYU LANGONE GETS SANDY largest. … LUCKY NUMBER. The 7 program will Crain’s numbers with—what else?—a PowerPoint- CASH.The hospital will receive $1.13 train topped the Straphangers Cam- debut in Central ready chart that showed four years of total July press billion in Federal Emergency Man- paign’s ranking of the city’s subway Park Sept. 18. agement Agency funding to help re- lines for the seventh time since 1998, releases, peaking at 100 for July 2013 versus 97 as of pair Superstorm Sandy damage. based on its frequent service, cleanli-

midday this July 31. “Unless we put out three more Some $540 million will be used to fix ness and seat availability. The 2 was istockphoto releases today,” a Cuomo spokeswoman noted that various buildings, and $589 million deemed the worst. … DONATIONS afternoon, “we will have put out fewer this July than will go toward flood-mitigation NEEDED. Just 22% of New York OY VEY! projects. It is the adults are registered last.” Promises, promises. IKEA IS PHASING OUT its minimalist second-largest ‘Even the organ donors—less Galant desk, a popular choice among FEMA award ever than half the nation- startups across the country. granted to a single sharknadoes wide rate of 48%— THIS WEEK IN CRAIN’S project. … POL CON- according to a study VICTED. After an are tougher in from Excellus Blue IN THE MARKETS------1 eight-week trial and New York’ Cross Blue Shield. ... less than two hours of —Lead character in the WINTOUR’S DAY. IN THE BOROUGHS------4 jury deliberation,for- Syfy cable-channel Condé Nast an- THE INSIDER ------6 mer Queens Coun- schlock flick Sharknado 2, nounced a long- cilman Daniel Hallo- which drew a record expected executive OPINION ------10 ran was found guilty 3.9 million viewers and transition, making president and nearly 40 years at the ALAIR TOWNSEND ------11 of five counts of 581,000 tweets Vogue Editor in museum, Emily Rafferty, one of bribery and corrup- Chief Anna Win- Crain’s 50 Most Powerful Women in GREG DAVID------11 tion. He faces 45 years in prison. … tour the top editorial voice for the New York, will retire from the Met- REPORT: HEALTH CARE ------12 $350M FOR AFFORDABLE HOUSING. media giant. President Bob Sauer- ropolitan Museum of Art next The city will partner with major fi- berg was put in charge of all revenue- spring.Ms.Rafferty,65,was the mu- CLASSIFIEDS ------18 nancial institutions, including Citi- generating activities, while Editorial seum’s first female president. … REAL ESTATE------22 group and Deutsche Bank, to create Director Tom Wallace and Chief Fi- R.I.P., ACE. Alan “Ace” Greenberg, a fund to construct or preserve 7,500 nancial Officer John Bellando will the longtime CEO of Bear Stearns, GOTHAM GIGS SMALL BUSINESS------23 apartments as part of the mayor’s leave the company. … MET MUSEUM died of cancer at 86. Fashion maven Aslaug NEW YORK, NEW YORK ------29 200,000-unit affordable-housing PREZ TO RETIRE. After a decade as Magnusdottir is making a —emily laermer name for herself. P. 7 SOURCE LUNCH------30 CORRECTIONS (SEE PAGE 28) STORIES TO WATCH vol. xxx, nos. 31, 32, august 4, 2014—Crain’s New York Business (ISSN 8756-789x) is published weekly,except for double issues the weeks of June 23,July 7,July 21,Aug.4,Aug.18 and Dec. 22, by Crain Communications Inc., 685 Third Ave., New York, NY 10017. Periodicals postage paid at New York, N.Y., and additional mailing offices. Postmaster: Send address changes to: Aug. 4: Aug. 6: City Aug. 6: AOL to Aug. 7: Contents Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, Registration opens Planning hearing release 2Q earnings of abandoned Bank MI 48207-2912. for subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 one for the .nyc domain on Astoria Cove (see this week’s of America year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2014 by Crain Communications Inc. All rights reserved. housing proposal story on Page 26) safe-deposit boxes to be auctioned

2 | Crain’s New York Business | August 4, 2014 20140804-NEWS--0003-NAT-CCI-CN_-- 8/1/2014 5:28 PM Page 1

‘Inventor of leisure suit sues inventor of boutique hotel’ Millionaire entrepreneurs in $50M wrangle over Bowery Hotel penthouse amid soaring market

BY ANDREW J. HAWKINS

On a street once synonymous with skid row, two millionaires are quarreling over the penthouse of a trendy hotel that, if put up for sale, would be among the most expensive condos ever sold in lower Manhattan. In April, developer Jerry Rosengarten filed a lawsuit in state court against celebrity hotelier Richard Born and several of Mr. Born’s part- HOTELIER RICHARD ners, alleging a scheme to cut Mr. Rosengarten out of a deal to sell the BORN says a lawsuit by a penthouse suite and several other apartments atop the Bowery Ho- Bowery Hotel partner tel. Mr. Born denies any wrongdoing and blames the dispute on misinterprets the original deal that created the faulty memory.Mr.Rosengarten is seeking a highly memorable Lower East Side hot spot. $50 million in damages. Both entrepreneurs consider themselves pioneers who doubled down on a once-downtrodden neighborhood and are now looking to cash in on real estate values that have hit stratospheric heights. Mr.Born claims to be the inventor of the boutique hotel. He is the force behind trendy New York City proper- FORMER GARMENTO bloomberg news, buck ennis ties such as the Bowery, the Maritime, the Mercer, the (and now developer) Greenwich and the Pod. Mr. Rosengarten, meanwhile, is Jerry Rosengarten often cited as the original designer of the leisure suit, alleges trickery by his that blend of polyester and kitsch that found popular- Bowery Hotel partners. ity (and ridicule) in the 1970s. The clash of egos is all the more combustible given the high stakes. Mr. Born described the impasse as “different interpre- See BATTLE on Page 28

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August 4, 2014 | Crain’s New York Business | 3 20140804-NEWS--0004-NAT-CCI-CN_-- 8/1/2014 6:56 PM Page 1

IN THE FRESH FACE: Director Glenn Adamson will have BOROUGHS room to experiment now that the Museum of Arts BROOKLYN and Design has shed debt and hired new staff. Prosperity rides rails of L train Top line of hipsters, techies spurs change all along its route

BY JOE ANUTA

In the past few years, Roberta’s, a pizzeria in Bushwick, Brooklyn, has garnered critical acclaim from re- viewers including Zagat,hosted Bill Clinton and family for dinner, and helped start an annual block party that today draws more than 10,000 people. In short, the place has come a

buck ennis long way since it opened in 2007, when it catered to a mix of artists and workers from the few ware- houses and manufacturing plants still in operation nearby. Yet even It’s a MAD world. But it’s his then, Roberta’s owners saw change racing down the tracks. “I think we knew that ultimately Chocolate Factory (minus the snozberries). what had begun in Williamsburg New director looks to make his mark, showcase hidden Mr. Adamson wanted his first show to make was going to keep coming,” said talent with the Museum of Arts and Design’s first biennial a statement, so he opted to launch a biennial, be- Chris Parachini, one of three part- lieving it would create more buzz around the mu- ners in the eatery. out party since taking over as director in October. seum while highlighting what he considers an What made it almost inevitable BY THERESA AGOVINO The director’s debut, “NYC Makers: The overlooked element of the city’s talent pool. was the L train, the line that cuts MAD Biennial,” features a jumble of more than “Biennials give people something to look across 14th Street from the back Glenn Adamson, the director of the Museum of 100 works reflecting the diversity of talent among forward to—it is an opportunity to take the door of Google’s vast complex in the Arts and Design, describes his current show as “a the city’s artisans. There are the traditional crafts: pulse of what’s going on,” he said. “New York is meatpacking district to the East festival,a celebration”of New Yorkers who create. vases, costumes from the Metropolitan Opera, a a cultural hub, but people don’t think of it as River, and then on to Williamsburg, It’s a fitting description with a personal subtext: video by Yoko Ono. Even the zany: Scratch-and- place where things are made.” Bushwick and ultimately East New The exhibit represents Mr. Adamson’s coming- sniff wallpaper seems straight out of Charlie and the See MAD on Page 28 See L TRAIN on Page 21

Key to hitting city housing STATS AND THE CITY by Nicholas Wells TOUGH TIMES FOR YOUTHS: About 305,000 NYC young adults, ages 18 to 24, aren’t in school or are stuck in low-paying jobs, according to a new goals is who’s counting report by JobsFirstNYC. The total is equal to the population of Pittsburgh. PORTION of the city’s total population of 18- to 24-year-olds Current and former Both sides agree that each unit When Mr. Bloomberg made his 35%(870,700) who are not in school, are out of work or have limited counts only when financing falls into then-bold pledge nine years ago,the opportunities for advancement place and an affordability agreement mayor also promised he’d seal the mayors both claim NUMBER of jobs provided to is signed.What’s more,in the case of deal by the end of the 2014 fiscal 8,700 apartments 36Kyoung people in July and the 8,700 units in projects across the year, according to the city’s Inde- August 2013 by the city’s Summer Youth city,all agree the mag- pendent Budget Of- Employment Program, 22% more than in 2012 BY JOE ANUTA ical moment came in fice, which has closely the first half of the The magic tracked the former NUMBER of young adults unemployed To some real estate observers, the current calendar year. mayor’s housing 65Kbecause of family-care responsibilities, city’s latest affordable-housing “We wouldn’t dou- moment progress. That means about 7% of the age group’s total population numbers don’t seem to add up. ble count,” said Alicia he had until June 30 to The controversy arose late last Glen, deputy mayor came in the deliver the goods. PORTION of the city’s high-schoolers month, when de Blasio administra- for housing and eco- Mr. Bloomberg 31% deemed college-ready after four years, despite a record 66% four-year tion officials proudly called the 8,700 nomic development, first half likely picked that time graduation rate in 2013 units of affordable apartments that in a July 30 news con- frame because a large had received financing in the first six ference. “When peo- portion of all public fi- UNEMPLOYMENT rate months of the year “a significant ple talk about the pri- nancing deals close 15.7%among the city’s 16- to down payment” on achieving their or plan, that would be just ahead of the end 24-year-olds, compared with 8.3% goal to build or preserve 200,000 all [unit starts before] Jan. 1, 2014.” of the financial year. What’s more, overall* such units over the next decade. But what seems like an open-and- he could argue that all of the deals *12-month period ended June 2014 One problem: The Bloomberg shut case—which would mean that would technically be done using Sources: JobsFirstNYC, NYC Department of administration had already counted the famously data-driven Bloomberg money he allocated in his final Education, NYC Mayor’s Management Report, NYS Bureau of Labor Statistics

those same units as the final install- administration fell short of its afford- budget. To drive this point home, istockphoto ment payment on its 2005 pledge of able objective by about 5,000 apart- the Bloomberg administration is- ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY 165,000 affordable apartments. ments—has another side to it. See HOUSING on Page 28

4 | Crain’s New York Business | August 4, 2014 20140804-NEWS--0005-NAT-CCI-CN_-- 8/1/2014 6:58 PM Page 1 IN THE ⅷ RESIDENTIAL REAL ESTATE. One sign Treasury bond,” said David the company’s annual sales.That’s a of how frothy the market has be- Bagatelle, president of the New hefty price in the food world, where MARKETS come is that stated-income mort- York metro market at Sterling fierce competition for shelf space by Aaron Elstein gages have bounced back. National Bank. “One of those cer- and ever-changing consumer tastes These mortgages,once labeled as tainly carries a lot more risk than the mean that companies seldom grow “liar loans” because they don’t re- other.” rapidly for long. quire borrowers to provide proof of ⅷ FINANCIAL TECHNOLO- But in recent months, income, were banned earlier this GY. One of the prices for food makers have year by the Consumer Financial hottest sectors in escalated to three or even Protection Bureau. But that move the world’s finan- $54K three and a half times Welcome, NY, AMOUNT RAISED ON only applies to lenders writing such cial capital is “fin- KICKSTARTER by an sales, according to Greg loans for primary residences. Liar tech,” the startups aspiring potato-salad Wank, partner in charge loans for investment or commercial that develop secu- entrepreneur who had of the food and beverage to Bubble Town properties remain fair game. rity, processing and never made potato practice at accounting firm One provider, Velocity Com- other services for big salad Anchin. Continued from Page 1 ment, however, may want two years mercial Capital, is offering institutions. Inflows of Manufacturers of organic or Still, today’s bubble fears may be of additional trial data before ap- adjustable-rate stated-income capital to those firms have mush- artisanal products are especially hot. well founded. The S&P 500 has proving the drug, according to mortgages that mature in five years roomed by 45% annually during the But those who make anything that tripled during the past five years,yet Bloomberg News. at rates starting at about a hefty past five years, or double the rate of can command a healthy markup are the Fed says it won’t raise interest “It’s a bubble when any positive 7.5%, but activity is brisk. growth in funding for similar com- in heavy demand. Long Island- rates, which have been near zero announcement causes a major “We’re doing a lot of panies in Silicon Valley,according to based Hain Celestial, best known since the financial crisis because of [stock price] surge,” ob- business in New a June report by Accenture and the for its Celestial Seasonings teas,ear- the weak labor market and absence served Christopher Tsai, York,” said ac- Partnership Fund for New York lier this year paid $300 million for a of inflationary pressures. president of Manhat- count executive City. company that deals in trendy Bas- “A 6% unemployment rate is cer- tan-based hedge fund 300+ Katina Magac. Things started looking bubbly in mati rice. tainly better than the 10% we had a Tsai Capital. NUMBER OF ASSET “There’s been a the spring after a company called ⅷ CROWDFUNDING. Speaking of food, few years ago,” said Lawrence Although he’s BUBBLES tracked significant in- Mercury Payment Systems agreed last month an aspiring entrepreneur White, an economist at New York deeply skeptical about over history by crease in de- to be acquired for $1.7 billion, a turned to Kickstarter to raise some University, “but it’s still not robust, biotech, whose stocks markets guru mand for the whopping six times its annual rev- cash for a project.“Basically I’m just and at the same time, people see the have posted average an- loans in the last enue.Just two or three years ago,fin- making potato salad,” he wrote. “I stock market at all-time highs.” nual gains of 42% since the Jeremy Grantham several months.” tech companies fetched only one or haven’t decided what kind yet.” It’s been just seven years since the start of 2012—double the Meanwhile, de- two times their revenue, according What’s more, he included a daunt- implosion of the housing bubble S&P 500’s rise—Mr. Tsai said mand for investment to Mandeep Sihota, a principal in ing risk factor: “It might not be that triggered the Great Recession, and it’s too early to shout out the B-word. properties in hot areas like Park the valuation and forensic services good. It’s my first potato salad.” 14 years since the dot-com bubble With interest rates near zero, it’s Slope and Brooklyn Heights have group at advisory firm Citrin Nonetheless, by the end of July popped, but ConvergEx Group only natural for investors to bid up driven up their prices to the point Cooperman. On the other hand, he’d raised nearly $54,000 from Chief Market Strategist Nicholas the value of assets that offer decent where the return on rental proper- just before the dot-com bust in about 6,700 backers. Feeding that Colas isn’t surprised to see new bub- returns, he argued. What’s more, ties has sunk to 4%.That’s well be- 2000,they sold for 10 times revenue. inflow, about 387,000 people had bles inflating. He noted that incorporate profit growth remains low the typical rate of about 6% and “A lot of that excitement is com- shared his request on Facebook. vestors are prone to the same kind of strong, and individual investors, not much higher than the 3.2% ing back,” Ms. Sihota said. “There’s your crowdfunding poor judgment as criminals, 43% of burned by 2008, have not yet re- yield offered by hypersafe long- ⅷ FOOD. What constitutes a fair price bubble,” ConvergEx Group’s Mr. whom return to prison within three turned to the market—normally one term U.S government bonds. for a salty snack? New Jersey-based Colas said. Ⅲ years of their release because of a of the surest signals that stock prices “The question for a real estate in- B&G Foods forked over about $200 fresh offense.“Punishment is a poor are peaking.Indeed,flows into equi- vestor is whether to put money in million to buy the maker of Pirate’s LISTEN to a discussion at CrainsNewYork.com/podcasts motivator for changes in human be- ty mutual funds declined by 30% in Brooklyn multifamily housing or a Booty last year, or more than twice havior,” Mr. Colas said. the first half,according to the Invest- For now, the most effer- ment Company Institute. ADVERTISEMENT vescent corners of the “Bull markets end after market appear to be the last burst of eupho- venture capital ria,” Mr. Tsai said. and biotech in- MINUTE1 “We haven’t seen vesting. that yet.” VC firms Time it took shares of Jeremy Gran- poured $2.1 revenue-less Puma tham, the chief in- billion into Biotechnology to quadruple, vestment strategist New York to $230, after a press at money manager startups in the GMO who is first half of this release touted the known for his con- year, for example. company’s product trarian views,also reck- That was the most ons the markets will push since 2001, when thou- even higher. Mr. Grantham, sands of high-flying dot-coms who has identified more than 300 crashed to earth. bubbles in different asset classes over the course of history, recently wrote Jumping the sharknado that the stock market won’t be blow- The current tech boom may have ing bubbles until the S&P 500 reached its sharknado-jumping mo- reaches 2,250,or 17% higher than its @UPPERSTORYNY ment on July 21. That is when New current level. Until then, he predicts York Knicks basketball star Carme- a frenzy of dealmaking as business lo Anthony,who started dabbling in leaders race to build their companies VC investing only last year,when he before the party ends. put money in an app developer, an- “I think it is likely (better than nounced he would co-found a VC 50-50) that all previous [merger] fund called M7 Tech Partners. The records will be broken in the next “M” stands for “Melo,” and 7 is his year or two,” Mr. Grantham wrote. OPENING FALL 2014 · CHEF CHARLIE PALMER’S PREMIER PRIVATE EVENTS SPACE OVERLOOKING MANHATTAN uniform number. “For as long as I “This of course will help push the D&D BUILDING · 979 THIRD AVENUE · 14TH FLOOR · NEW YORK, NY · 212.644.9394 · UPPERSTORYNY.COM can remember, I’ve been interested market up to true bubble levels, in technology,”Mr. Anthony said in where it will once again become very a statement. dangerous indeed.” A day after that announcement, the biotech frenzy took center stage. A company with no revenue called THE FROTHIEST Puma Biotechnology put out a press ASSETS release touting “positive” results in a clinical trial of its breast-cancer With the day of reckoning looming, treatment, and its stock price Crain’s asked financial executives quadrupled to $230 a share in a sin- across the city to identify which gle minute of trading on the New assets they see as stretched into York Stock Exchange. The govern- bubble territory.

August 4, 2014 | Crain’s New York Business | 5 20140804-NEWS--0006-NAT-CCI-CN_-- 8/1/2014 5:29 PM Page 1 THE be enshrined in the state’s constitu- more regulation and mandates for would each appoint two members, tion if a majority of voters back it. employers. Democratic voters out- and those eight members would ap- INSIDER The groups say the proposal is a far number Republicans two-to-one prove the final two. But if the Leg- by Chris Bragg cry from truly impartial redistrict- statewide, requiring the GOP to islature doesn’t like the commis- ing,which has been adopted in states gerrymander to keep its numbers up. sion’s districts,it could draw its own. such as California, because final ap- Common Cause plans to raise Gov. Andrew Cuomo has touted the proval of the district maps would re- money for a grassroots advocacy ef- constitutional amendment, saying it Biz uneasy as reformers fight reform main in the hands of the Legislature. fort, though its funding is expected “permanently reforms the redistrict- “In the end, this is an attempt to to be relatively modest. ing process.” That’s exactly what re- ood-government groups have long sought to change constitutionally memorialize a sys- Redistricting is controlled by the formers are afraid of: locking into the once-a-decade redistricting process in Albany tem where both parties run state Legislature. In a tacit non- place a system by which incumbents roughshod over the voters,” said interference arrangement, the Sen- can essentially draw their own dis- Gthat has resulted in oddly shaped legislative lines Susan Lerner, executive director of ate and Assembly majorities let each tricts. If the measure passes, chang- favoring incumbents. But with a proposal on the November Common Cause New York. other draw the lines for their respec- ing the system again would require ballot to finally and dramatically alter the process, the But some fear that reformers’ so- tive chambers, then vote them into approval from two consecutive Leg- reformers are launching a campaign against it. lutions would run roughshod over effect. If the amendment passes, a islatures and another voter referen- the business community instead by 10-member commission would dum—an arduous and rarely execut- Common Cause New York, NYPIRG and others are facilitating a Democratic takeover of draw the districts.The majority and ed process that takes two years. opposing what they call “fake redistricting reform” that would the state Senate, which could lead to minority conferences in each house The amendment will go to voters as a result of a 2012 deal between Mr. Cuomo and Senate Republicans. Most Senate Democrats voted against putting the question on the ballot, and although they now have a much closer political relationship OUR JOB IS TO HELP MAKE with Mr. Cuomo, they still oppose it. YOUR JOB EASIER.

COFFEE CUPS can be made into these pellets. Foam war revisited

Last year, then-Mayor Michael Bloomberg signed into law a ban on plastic-foam food-service containers to take effect July 1, 2015. But it came with a hard-won caveat for the foam industry: The city must first conduct a test to determine if the containers can feasibly be recycled instead of outlawed. Though the decision must be made by Jan. 1, the Department of Sanitation seems to be in no hurry. An agency spokesman would only say, “I think we’re planning to conduct a study in the fall, but I don’t have many details.” That worries Dart Container Corp., a major producer of single- When people are your priority, MassMutual’s healthcare nonprofit expertise is here to help. use food-service products that lob- Whether it’s consolidating multiple retirement plans, navigating filing requirements or bied for the feasibility analysis after it became clear the ban would pass. finding ways to help your par tic ipant s re tire w ith c onfidenc e, we simplif y the pro c e s s — so “That doesn’t leave much time for a you and your employees can spend more time where it’s needed most. It’s probably why fair test,which is a real concern,”the company said in a statement. “We 100% of MassMutual’s nonprofit clients gave us top ratings for “would highly recommend” hope the [City] Council, which re- and “investment options and performance.”1 To learn more, call your retirement plan quired the test, will hold the department accountable.” But members professional or contact MassMutual at 1-866-444-2601, MassMutual.com/Nonprofit who helped Dart have left office. Dart has retained well-known attorney Randy Mastro and might sue if it believes the city isn’t complying with its own law. So desperate is the company to keep foam food containers legal that it has offered to pay for the first two years of a recycling program, which would require separating and wash- ing used containers and combining TOTAL RETIREMENT SERVICES + TPA + DEFINED CONTRIBUTION + DEFINED BENEFIT + NONQUALIFIED + them with rigid plastics to add NONPROFIT + PUBLIC SECTOR + TAFT-HARTLEY + STABLE VALUE + PEO + IRA weight. The material would be melted into pellets for use in picture frames and other products. ©2014 Massachusetts Mutual Life Insurance Company. All rights reserved. MassMutual Financial Group refers to Massachusetts Mutual Life Insurance Ron Gonen, the deputy sanitation &RPSDQ\ 0DVV0XWXDO >RIZKLFK5HWLUHPHQW6HUYLFHVLVDGLYLVLRQ@DQGLWVDIÀOLDWHGFRPSDQLHVDQGVDOHVUHSUHVHQWDWLYHV0XWXDO)XQG,QGXVWU\$ZDUGV commissioner who championed the “Hall of Fame” selection announced 12/2/13 by Fund Industry Intelligence & Fund Director Intelligence (Euromoney Institutional Investor) for MassMutual’s prior awards: Retirement Leader of the Year for industry leadership and excellence in retirement plan services, April 2012; Deal of the Year, April 2013; ban, has left city employ but contin- Ad Campaign of the Year$SULO0DVV0XWXDOLVWKHRQO\ÀUPHYHUWRKDYHHDUQHGD+DOORI)DPHLQGXFWLRQLQMXVWWZR\HDUV1Based on MassMutual’s ues to defend it. Dart might find 2013 full-year customer satisfaction survey released by Chatham Partners on March 10, 2014. RS: 30790-01 Mayor Bill de Blasio no more sympa- thetic than his predecessor: Mr. de Blasio once tried to ban plastic-foam trays from public schools. Ⅲ

6 | Crain’s New York Business | August 4, 2014 20140804-NEWS--0007-NAT-CCI-CN_-- 8/1/2014 12:04 PM Page 1

BUSINESS

$138KAverage total compensation for a corrections officer in New York City PEOPLE Source: NYC OpenData

EXECUTIVE MOVES

ASLAUG MAGNUSDOTTIR’S HAP Investments: firm allows shoppers to Kfir M. Ribak,34, customize designer apparel joined the interna- or create their own fashions tional real estate from scratch. investment and development company as chief financial officer. He was previously a partner at Citrin Cooperman. Community Preservation Corp.: Daniel Brandt, 44, joined the nonprofit affordable-housing lender as chief financial officer and executive vice president of risk management. He was previously executive director of Capstone Advisory Group. Friends of the High Line: Jerome Barth, 41, joined the nonprofit as chief operating officer. He was previously vice president of business affairs at Bryant Park Corp. Saatchi & Saatchi NY: Wanda Pogue, 44, was promoted to chief strategy officer at the advertising company. She was previously global planning director. Siegel+Gale: Kevin Grady, 49, joined the global branding firm as global head of content and design. He was previously design director of IDEO’s Boston office. NYC & Company: Peter Yacobellis,34, joined the New York City marketing, tourism and partnership organization as chief of staff. He was previously director of the New York Office of Rent Adminis-

buck ennis tration. New York Restoration Project: Deborah GOTHAM GIGS Marton, 51, was promoted to executive director at the nonprofit. She was previously senior vice president of programs. adMarketplace: John Tolson, 45, joined the advertising network as executive director of client relations and devel- The coolest name in fashion opment. He was previously managing director and senior partner at GroupM. East River Partners: Ravi Bhatia,50, Aslaug Magnusdottir (and her Tinker Tailor, too) joined the private-equity investment and real estate development firm as Altering a designer dress can lead to lawsuits. At she was born, Ms. Magnusdottir, who holds director of development. He was pre- ‘This is for viously director of operations and Tinker Tailor, it generates sales.The midtown- degrees from Harvard Business School and Duke program management at LIGTT the woman based company, launched in May by fashion University School of Law, took her talents to the Regional Center. Fidelis Care: Sahar veteran Aslaug Magnusdottir, allows shoppers to U.S. She learned the fashion business from stints Elezabi, 47, joined who loves customize designer wares or create their own at McKinsey & Co., retail consulting firm the health insurance provider as medical luxury but apparel from scratch using 3-D renderings. Marvin Traub & Associates and e-commerce site director and vice Changes made with a designer’s approval give Gilt Groupe. She co-founded Moda Operandi, a president. She was wants to consumers the choice of shortening a hem here, site for preordering luxury goods, four years ago. previously medical director and behav- tweak it’ adding an embellishment there, or changing a Tinker Tailor, which operates out of a 1,200- ioral medical direc- shade. So far, 80 fashion houses—including well- square-foot office and atelier on West 44th tor at North Shore-LIJ CareConnect Insurance Co. known labels Marchesa, Preen and Rodarte—are Street, takes the concept of high-end buying Seleni Institute: Christiane Manzella, onboard. ¶ “You see a big trend in our society online one step further. ¶ She declined to 67, was promoted to clinical director at the women’s mental health and toward customization—that need and desire to disclose how much Tinker Tailor received in seed wellness nonprofit. She was previous- have something a little bit more personalized and funding, but expects to start a Series A round ly supervision director and senior psy- suited toward them,” Ms. Magnusdottir said. soon.The company will expand into accessories chologist. Infusion: Alexander Liss, 35, joined the “There are apparel customization sites for the by the end of the year. ¶ “This is for the woman global consulting company as director mass market, but nobody had built a platform who loves luxury but wants to tweak it to make it of analytics and insights. He was previously senior data strategist at Droga5. within luxury.” ¶ The 46-year-old knows her more personal and more relevant,” she said. TPG Architecture: Nicole Varadi,43, audience. After studying law in Iceland, where —adrianne pasquarelli See EXECUTIVE MOVES on Page 8

August 4, 2014 | Crain’s New York Business | 7 20140804-NEWS--0008-NAT-CCI-CN_-- 8/1/2014 12:05 PM Page 1

CORPORATE LADDER EXECUTIVE MOVES

DIRECTOR HITS RIGHT NOTES AT THIRD STREET MUSIC Continued from Page 7 was promoted to design director of the VALERIE LEWIS, 41, began her first day at the Third Street Music School Settlement by attending its prekindergarten sing-along, and retail studio at the design firm. She was she capped it by dropping in on a concert performed by the school’s “50 or better” senior citizens’ group. previously a senior designer. As Third Street’s 15th executive director, Ms. Lewis takes the helm as the East Village institution, which offers music and Centerline Capital Group: Mustafa dance classes to more than 5,000 students, prepares to celebrate its 120th birthday this fall. “The anniversary is an Haque, 36, joined the real estate finance opportunity to focus on the history, strengths and reputation of this organization,” said Ms. Lewis. She plans to mark the and asset management firm as vice president and assistant general counsel. occasion by developing additional programming and special events to raise the school’s visibility. He was previously in-house counsel at Third Street, the oldest community music school in the country, provides classes in violin, guitar, hip-hop, music theory and Asset Based Lending Fund. more. It also partners with more than 20 public schools and community centers to provide music and dance instruction—a Enterprise Community Partners Inc.: Judi program that Ms. Lewis plans to expand. The nonprofit has an annual operating budget of just over $7 million. Kende, 45, joined the real estate invest- Ms. Lewis was previously executive director of the Brooklyn Youth Chorus Academy. “Valerie is a fierce ment services company as vice president advocate of the arts,” said Debra Simon, Brookfield Properties’ vice president of arts and events, who met Ms. and New York market leader. She was previously senior vice president of the Lewis when they worked at the Downtown Alliance. “She knows how to grow organizations.” —NAZISH DHOLAKIA Eastern and central regions at the Low Income Investment Fund. eXelate: Jonathan Doan, 47, joined the independent data platform as senior vice president and general manager of platform software. He was pre- HOW DO YOU CONNECT WITH viously group vice president of the Americas at Limelight Networks. Pyramid Consulting Group: Erika Mendez, 35, was promoted to vice president at the THE LEADERS IN YOUR MARKET? staffing firm. She was previously vice president of the fashion division. Catalyst Investors: Susan Bihler, 28, was promoted to vice president at the growth equity firm. She was previously a senior associate. Crain’s Business Lists make it easy FreshDirect: Larry Scott Blackmon,40, joined the online grocer as vice president of community and government affairs. He was previously deputy commissioner for community outreach at the New York City Department of Parks & Recreation. STEP 1 STEP 2 STEP 3 Intrepid Sea, Air & Space Museum: Lynda Kennedy, 46, joined the nonprofit educational institution as vice president of education. She was previously associate executive director of the Louis August Jonas Foundation. PlaceIQ: Phil London, 62, joined the location-intelligence company as senior vice president of product and technology. He was previously senior vice president of marketing and engineering at SynapSense. Ed Haslam, 50, joined as senior vice president of marketing. He was previously senior vice president of marketing at YuMe. Payoneer: Jani Gode, 42, joined the Visit Select And Make Internet-based financial-services business as vice presi- Crain’s Download New dent of enterprise risk. She was previously manager of interna- Data Center Your List Connections tional payments and the prepaid group at SightSpan. Worthy: Ezzie Schaffran, 37, joined the online marketplace for preowned luxury goods as vice president of operations, a newly created position. He was previ- All Crain’s lists are researched and veriﬁed by our editorial ously chief operating officer at Ice.com. McNamara/Salvia Inc.: Vladimir Seijas, team so you can be assured that you’re getting the most 44, joined the structural-engineering firm as a principal. He was previously accurate data possible. All lists are available for download senior vice president at WSP. Bart Sullivan, 43, joined as a principal. He was previously senior vice president in an easy-to-use Excel compatible format. at WSP. Rose Associates Inc.: Andrea Mignone, 32, joined the residential real estate services firm as manager of residential marketing. She was previously vice president at Marketing Directors Inc. —nazish dholakia

View all our lists at: EXECUTIVE PROMOTIONS The fastest way to get an announcement into www.crainsnewyork.com/datacenter Crain’s is to submit online. Fill out the form at www.crainsnewyork.com/section/ executive_moves. The Executive Moves column is also available online.

8 | Crain’s New York Business | August 4, 2014 20140804-NEWS--0009-NAT-CCI-CN_-- 8/1/2014 12:17 PM Page 1

DIGITAL NY $2.1B AMOUNT VC FIRMS poured into New York startups in the first half of 2014—the most Summer deal flow remains sunny since 2001 Local startups company was founded in their competitors.The SoHo-based them, frankly.” He expects such de- 2011 by Harvard Business firm will now work on persuading vices to be “largely ubiquitous” in have no problems School classmates Amy Jain other kinds of e-commerce sites to the next few years, noting that he and Daniella Yacobvosky. think of themselves as publishers sees them around the office as well raising their profiles “When women go to and sell ads from competitors. as at sporting events. buy makeup, they go —thornton mcenery Fashion houses are recognizing as well as cash straight to Sephora,” Ms. and matthew flamm this growing market. Tory Burch, Jain said in an interview. partnering with Fitbit, recently re- he doldrums of summer “When women go to buy leased a line of tech accessories, may be upon us,but that jewelry, they don’t have one Fast fashion while Diane von Furstenberg de- hasn’t stopped tech place they can go.” The city’s annual triathlon marked a signed styles for Google Glass. dealmakers from in- CHRIS BURCH (left) has bellied up to Bauble Bar. MARC Investors continue to tech milestone: The majority of the Ringly, a local startup selling a ring vesting millions of dol- LORE has shed Diapers.com to form e-commerce site Jet. fund firms building tech- race’s 3,000 participants, or 58%, in- that signals when its wearer receives Tlars in local startups. nology to help brands tended to use wearable devices during a cellphone call, launched in June. Marc Lore secured one of the reach potential consumers the event, according to a survey by The wearable-electronics mar- biggest deals of recent weeks. The collection of e-commerce sites most across devices. management consultant Accenture. ket reached $8 billion in sales last entrepreneur behind Diapers.com known for the Diapers.com vertical, Digital marketing company Such devices include watches year, and is expected to hit $20 bil- said he raised $55 million for an to Amazon for a reported sum of Dstillery doubled its raised capital that monitor pace and include GPS lion by 2017, according to research e-commerce site he’s calling Jet. $545 million, and then stayed with with a $24 million infusion led by tracking, heart monitors and step- firm Futuresource Consulting. That’s about all he’d say about his the company for four years before New Spring Capital. The Series C tracking wristbands. The survey —adrianne pasquarelli startup,other than it will be based in leaving with other Quidsi founders to round will help the midtown south found that nearly 75% of those plan- and matthew flamm Hoboken, N.J., and “will make use form Jet. One Quidsi alum who did firm,one of Crain’s 2013 Best Places ning to wear devices were going to of the latest advancements in tech- not join Jet is Vinit Bharara, brother to Work, expand further. Its CEO, use them to track speed and distance nology to create a new shopping ex- of U.S. Attorney Preet Bharara. Tom Phillips, was a 1988 Crain’s 40 for the race, which combines swim- perience that will empower cus- Other boldface names in New Under 40. ming, cycling and running. tomers like never before.” York business also have been busy. Ad-tech firm Intent Media One enthusiast is John Ratzan, Mr. Lore in 2010 sold Quidsi, a The investment firm of Chris raised $22.7 million to expand into managing director of Accenture’s Burch, co-founder with his ex-wife new office space downtown and to New York office and a five-time To sign up for Crain’s DIGITAL NY of the high-end fashion powerhouse build a bigger international opera- triathlete in New York. He was go-

emails, go to www.crainsnewyork Tory Burch, led a $10 million Series tion. The company’s approach is ing to use a racing watch and heart- bloomberg news photos .com/newsletters. B round for e-commerce jewelry site novel: It talks travel sites like Expe- rate monitor. “It helps,” he said. “I FRAME WORK: Wearable tech has attracted Bauble Bar. The midtown south dia or Orbitz into running ads from would be challenged to race without designers such as Diane von Furstenberg.

Health Care Summit: Wednesday, October 1, 2014 New York Athletic Club TransformingTransforming NewNew York’sYork’s 180 Central Park South 8:00 a.m. – 8:30 a.m. Registration HealthHealth CareCare IndustryIndustry and Networking Breakfast 8:30 a.m. – 12:00 p.m. Program Cost to Attend: $250 individual ticket(s) $2,500 table(s) of 10 $3,500 table of 10 + full page event journal ad Early bird pricing ends August 15. You must be pre-registered to attend this event. What the $8 Billion Overhaul of New York’s Health Care No refunds permitted. Delivery System Means for New York Businesses For more event information: Adrienne Yee OPENING KEYNOTE PANEL DISCUSSIONS Phone: 212-210-0739 Email: [email protected] To be conﬁrmed. Joining Forces Without Fighting QUICK HITS Laurel Pickering, MPH, President & CEO, Northeast Business For sponsorship opportunities: Group on Health Joanna Harp Experts pitch their ideas on what the redesign Medicaid Reform - A Deeper Dive Phone: 212-210-0278 means and the implications. Email: [email protected] Stephen Berger, Chairman, Odyssey Investment Partners, LLC Jeffrey Kraut, Senior Vice President, Strategy & Business Informatics, North Shore-LIJ Health System Jason A. Helgerson, Medicaid Director, NYS Department of Health Mark Wagar, President, Heritage Medical Systems Register Today >> Kathleen Shure, Senior Vice President, Managed Care and crainsnewyork.com/events-hcconf2014 Insurance Expansion, Greater New York Hospital Association Additional panelists to be conﬁrmed. Jim Tallon, President, United Hospital Fund Gold Sponsor:

August 4, 2014 | Crain’s New York Business | 9 20140804-NEWS--0010-NAT-CCI-CN_-- 8/1/2014 12:18 PM Page 1 OPINION CRAIN’S NEW YORK BUSINESS

An easy way to boost tourism Rance Crain editor in chief publisher, vp Jill R. Kaplan hy would anyone want to limit But the legislation, called the Jolt Act, would certainly EDITORIAL editor Glenn Coleman the number of visitors from help the national economy as well. It would trigger an managing editor Jeremy Smerd Brazil, Israel, Poland and other estimated 600,000 annual visits and create 42,000 jobs, deputy managing editors Valerie Block, Erik Ipsen U.S.-friendly countries with according to the U.S.Travel Association.The nations that assistant managing editors Barbara Benson, Erik Engquist hordes of wealthy travelers eager would get visa-waiver status are close allies of the U.S. and senior news producer Amanda Fung to spend their money here? have security measures in place on par with countries already contributing editor Elaine Pofeldt columnists Greg David, Steve Hindy, Alair Townsend Surprisingly, these nations— in the program. senior reporters Theresa Agovino, Aaron Elstein, Lisa Fickenscher, Matthew Flamm, along with Argentina, Bulgaria, Croatia, Panama, Romania The Senate has passed the bill, but in the House it is tied Daniel Geiger, Adrianne Pasquarelli and Uruguay—are not among the 38 that can send tourists to comprehensive immigration reform, which Republicans reporters Joe Anuta, Chris Bragg, W Andrew J. Hawkins, Irina Ivanova, and businesspeople here for up to 90 days without a visa. have declared dead for this year. Some House members have Thornton McEnery reporter/videographer Ken M. Christensen Some politicians in the U.S. fear that visitors from these said the Jolt Act must be accompanied by a system that scans news producer Emily Laermer countries would stay longer than permitted, creating a fingerprints or retinas web reporter/producer Nazish Dholakia art director Steven Krupinski security risk, and therefore should be required to get visas. Let Brazilians, of people entering and deputy art director Carolyn McClain Imagine a mall trying to deter loitering by locking its doors exiting the country. But staff photographer Buck Ennis copy desk chief Steve Noveck and forcing each shopper to apply for entry. Israelis, Poles there is no funding to copy editor Thaddeus Rutkowski data editor Suzanne Panara New York City hospitality businesses have joined a create such a system, researchers Malik Singleton, Nicholas Wells and others visit editorial interns Valentina Cordero, national tourism-industry effort to persuade Congress to and some conservative Mark Fahey, Gianna Lakenauth, Katrina Samuelson pass legislation tweaking the Visa Waiver Program’s without visas groups oppose the use conferences and events editor admissions criteria. It would sweep in the aforementioned of biometric Jessica Kramer ADVERTISING, MARKETING AND PRODUCTION nine nations by virtue of their visa applicants’ rejection rates, technology.The advertising director Joanna Harp which are low but just above the current threshold. screening-system sales manager Irene Bar-Am senior account managers The bill would particularly benefit New York:The city is a demand is either a Jill Bottomley Kunkes, Courtney McCombs favorite destination of foreigners, who account for more than congressional poison pill or an excuse for inaction. director of custom content Trish Henry account executives Lauren Black, Rob Pierce 20% of our 50 million-plus annual visitors and an outsize However, there is a chance that the Jolt Act will be events coordinator & scheduler Alexis Sinclair 50% of their spending. Brazil is the Big Apple’s second- included in an appropriations bill, which would provide credit Todd J. Masura (313-446-6097) largest overseas feeder market. And 18% of international political cover for immigrant-phobic representatives.That’s director of audience & content partnership development Michael O’Connor travelers to the U.S. arrive in New York first. Deep-pocketed a promising path to passage this year, and probably the only senior marketing manager Catherine Schutten South Americans are not desperate to visit Dubuque. one. Congress should take it. director of conferences & events Courtney Williams events coordinator Adrienne Yee reprint account executive Alicia Samuel production and pre-press director CRAIN’S ONLINE POLL COMMENTS Simone Pryce ONLINE AND INTERACTIVE SERVICES general manager Rosemary Maggiore TO SUBSCRIBE: Not on the money For print and digital subscriptions or customer service, e-mail [email protected] Check cashers have been coercion to implement their or call 877-824-9379 (in the U.S. and Canada) or CHECK CASHERS REPLY 313-446-0450 (all other locations). $3.00 a copy for providing affordable, convenient ideology that government the print edition; or $99.95 one year, $179.95 two

getty images Crain’s editorial “Identifying a and regulated services to knows what is best. Whatever years, for print subscriptions with digital access. real benefit” ( July 7) incorrectly New Yorkers, especially happened to freedom of choice www.crainsnewyork.com/subscribe SHOULD COMMISSIONER argues that encouraging banks immigrants, for more than 70 in the marketplace? TO ADVERTISE: BILL BRATTON SCALE BACK to accept municipal ID cards years. More than 800,000 New —larry penner Contact Joanna Harp at [email protected] THE NYPD’S ‘BROKEN will help undocumented Yorkers currently use us—not Great Neck, N.Y. or call 212-210-0278. workers access bank accounts because we’re expensive and www.crainsnewyork.com/advertise WINDOWS’ POLICING? FOR INFORMATION ON OUR EVENTS: and avoid overpriced check inconvenient, but because we THE MOST CONNECTED Contact Courtney Williams at Yes. There’s little evidence that it deters more- cashers. meet their financial needs. This argument assumes —andrew siegel Thank you for recognizing our [email protected] or 212-210-0257. serious crime. It burdens low-level violators www.crainsnewyork.com/events New Yorkers with bank President chairman and CEO, Maurice with criminal records and leads to needless TO CONTACT THE NEWSROOM: accounts simply bypass fees. Financial Service Centers of NY Greenberg, as the Most- confrontation. 685 Third Ave., New York, NY 10017-4024 The reality: “Free checking” Connected New Yorker ( June editorial phone: 212-210-0277 No. Allowing minor offenses would worsen the typically means “high fees.” LEAD BY EXAMPLE 23). I wanted to provide a more fax 212-210-0799 quality of life and risk disorder. Turnstile- Second, it ignores the complete understanding of Starr Entire contents ©copyright 2014 Crain Communications Inc. jumping, graffiti, public urination and the like terrible choice that New Re “ ‘Chek’ with business first” Cos. and its financial results. All rights reserved. ®CityBusiness is a registered trademark of MCP Inc., used under license agreement. can’t be tolerated. Yorkers with bank accounts, (editorial, July 21): Why not The firm is comprised of the CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS Date of poll: July 29 but low balances, face: paying amend Councilman Daniel global insurance and travel high overdraft fees to banks or Garodnick’s bill, which would assistance business of Starr chairman Keith E. Crain 136 votes president Rance Crain paying high late fees to utilities. compel businesses with 20 or International Co., and the treasurer Mary Kay Crain The state Department of more employees to offer investment business of C.V. Cindi Crain Financial Services and the IRS TransitChek, to include council Starr & Co. In 2013, gross executive vp, operations William Morrow regulate and oversee New York members and staff? Mr. premiums written were $3.6 executive vp, director of strategic check cashers and their Garodnick and colleagues billion, operating income was operations Chris Crain executive vp, director of corporate 21% 79% transactions. We are held to the could give up their free City $390 million, total assets were operations K.C. Crain Yes No high requirements of the Bank Hall parking and join millions $13.1 billion, and shareholders’ senior vp, group publisher David Klein Secrecy Act, and our customers of constituents who take buses equity was $6.7 billion. vp/production, manufacturing David Kamis chief financial officer Thomas Stevens must present valid ID to and subways to work. —howard i. smith chief information officer Anthony DiPonio conduct any kind of financial Mr. Garodnick and his Vice chairman, finance transaction. colleagues are addicted to using C.V.Starr & Co. founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) secretary Merrilee Crain (1942-2012) FOR THIS WEEK’S QUESTIONS: CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 Go to www.crainsnewyork.com/poll to have your say. words or fewer to [email protected]. Please include the writer’s name, company, address and telephone number.

10 | Crain’s New York Business | August 4, 2014 20140804-NEWS--0011-NAT-CCI-CN_-- 7/31/2014 6:55 PM Page 1

without significant revenue growth in subsequent years. But it sounds How to spend the good to local property-tax payers. The Skelos proposal also contains tax cuts, including progress on elim- state’s big windfall inating the MTA payroll tax—money that is indispensable to operating the authority.There’s no mention of t’s Christmas in August. New York state is getting the how this funding gap would be filled. best gift of all: money,and lots of it.The pols are itching The Republicans also pledge to rein- stitute the STAR property-tax rebate to spend it. checks that most observers felt were BNP Paribas, France’s largest bank, was caught vio- untargeted and inefficient, and to lating U.S. trade sanctions and laundering money.It will phase out the 18-a utility tax. pay $8.8 billion in fines, including $3.3 billion to the state. An unspecified amount would I go to infrastructure projects, these Windfalls like this are rare,and as the Citizens Budget Com- being the only elements consistent mission and others have argued,it is foolish to build such a huge with their pledge to avoid “wasteful, new and recurring expenditures.” amount into the state’s spending Republican gubernatorial candi- base, since there is no guarantee the date Rob Astorino gets it right,urg- spending can be supported in future ing investment in roads and the years.The same is true for using the MTA. He said such spending “may proceeds to cut taxes. not come with ribbon cuttings—but The most prudent use is to pay it is of critical necessity to the eco- down debt to reduce future interest nomic future of this state.” Amen. costs or to simply fund capital proj- As for Gov. Andrew Cuomo, we ects without having to borrow. At won’t get details until he releases his $55.6 billion,the state’s outstanding budget next January. His office says debt is massive. Its debt-service the money will go into the general costs are enormous as well: $6.4 bil- fund and be subject to the normal lion in the fiscal year just ended, up ALAIR TOWNSEND Albany haggling. The governor is from $5 billion in fiscal 2010. likely to propose capital projects, There is a lengthy list of worthy paying down debt or even establish- projects.The money could be used to State Sen. Dean Skelos weighed ing an endowment to fund projects fill part of the hole in the financing in with the Senate Republicans’ideas out of earned income. All are pru- of the Metropolitan Transportation for spending the loot. While lacking dent uses, far superior to the Senate Authority’s capital plan, or to repair relevant details, it isn’t the bold plan Republicans’ election-year wish list. aging bridges and roads—all proj- it asserts to be. Almost one-third of Let’s hope that when all is settled, ects vital to the distribution of peo- the money would go to school aid— this gift will still look like a horse ple and goods throughout the state. spending that won’t be sustainable and not a five-legged camel.

can only guess about the governor’s Cuomo’s responsible motivations. One possibility is that some enormous scandal is out there that personally ensnares the gover- nor and that his actions are nothing for Moreland woes less than a cover-up. Assuming that isn’t true (and I think it is unlikely), Moreland-gate stems from the fact t is never good when the U.S. attorney is mad at you.Yet that Mr. Cuomo is a control freak. that is the position Gov.Andrew Cuomo is in as he con- Early in his term, Crain’s wondered torts himself with explanations over Moreland-gate, his why the monthly state jobs report routinely arrived hours late.The un- on-again, off-again commission to investigate political official answer was that the press re- corruption in the state.Three major questions loom. lease had to be cleared by the gover- ⅷ Why did he do it? “It”is all-encompassing.Why did he form nor’s office. (The governor’s people I always denied this was the case, al- a commission that he called independent? Why did he interfere though I never believed them.) If so intrusively in its operations? (And there really isn’t any doubt the governor cared so much about such a small thing as the jobs report, he did interfere.) Why did he sud- just imagine his obsession with denly disband it? And why is he so everything Moreland. contradictory in his responses to The ⅷ What will the impact of all this be? New York Times investigation of his Last week, it was reported that even administration’s Moreland actions? Rudy Giuliani won’t endorse Re- The best answer to all this is to publican gubernatorial candidate understand the governor’s obses- Rob Astorino, which followed Gov. sion: to win the largest possible vic- Chris Christie’s disparaging com- tory in the November election.Con- ments about the Westchester coun- sider just one tidbit.The governor,or ty executive. It is hard to see More- at least his top aides,reportedly went land-gate derailing the governor’s ballistic when the Moreland Com- suddenly bumpy re-election ride. mission sent a subpoena to the Real GREG DAVID No,the big effects will be felt next Estate Board of New York to review year, when a weakened Mr. Cuomo its extensive political giving. The faces a new equation in Albany. A subpoena was withdrawn, although Democratic-controlled Senate is ex- REBNY provided all the informa- re-election story. No misstep, no pected to join the always very liberal tion. Who was going to be shocked embarrassment; only highly orches- Assembly in pushing a new agenda that real estate interests give millions trated speeches, events and tri- for the state. After four years of be- of dollars to politicians to influence umphs (like the last-minute Long ing dominated by this governor, leg- their thinking? How about no one? Island Rail Road contract miracle). islators will be looking for any way to The Cuomo mentality has been ⅷ Does Moreland-gate say anything show their own political strength.So to allow nothing to detract from his fundamental about Mr. Cuomo? One much for any landslide victory.

August 4, 2014 | Crain’s New York Business | 11 20140804-NEWS--0012-NAT-CCI-CN_-- 8/1/2014 12:57 PM Page 1

HEALTH CARE ‘The life-science skill set 307% is increasingly about software Gain in biotech investment in and data mining’ —Matt Turck, managing partner, metro area, 1Q 2014 FirstMark Capital, Page 16 REPORT from 4Q 2013

Clockwise from top left: Piraye Beim of Celmatix, Michael Ohlmeyer of Dual Therapeutics, Kate Rochlin of Immunovent, Anthony Cappo of Tear Glucose Research, Gerard Honig of Symbiotic Health, Alex Bisignano of Recombine buck ennis Six biotech startups to watch

FOUNDED JUST THREE YEARS AGO, venture-backed bioinformatics startup Recombine Therapeutics has potentially found a new way to short-circuit tumor growth, and already has 50 employees and $3.5 million in revenue. Success in the biomedical BIO BUCKS Symbiotic Health is attacking Clostridium difficile, an often deadly infection. world used to mean a many-years-long slog and a small fortune to bring a treatment, “It’s not quite like building the next Uber—it still [involves] life sciences, it’s device or diagnostic to market. That paradigm is beginning to shift. regulated, and there’s plenty of complexity—but it’s very important how different these “The biotech model is changing,” said Alessandro Bisignano, Recombine’s CEO. $1.1B companies are,” said Matt Turck, a managing partner at FirstMark Capital, which is an BIOTECH INVESTMENT “Because genomics is becoming cheaper, it’s becoming a data science instead of a nationally, first quarter, 2014 investor in Recombine. molecular science.” Even the often-heard gripe that New York has little affordable lab space is receding Crain’s New York Business chose six of the hottest biotech startups operating in a bit as new, leaner, more virtual models infiltrate the startup paradigm. Celmatix got the city based on their potential to attack very large markets. But they also stand out $6 million from Topspin Partners and other investors after the venture firm urged it to for the ways they’re going about their challenges. Companies like Recombine and $18 0.3M become more efficient. Celmatix are software-driven and leaner, less risky and less capital-intensive than their BIOTECH INVESTMENT, “Topspin challenged us,” said Celmatix CEO Piraye Yurttas Beim, a 2013 Crain’s forebears. Using genomics, they evaluate fertility and pregnancy, offering patients and NY metro area, first quarter, 40 Under 40. “They said, ‘You’re selling us the classic biotech story—tons of money, physicians new ways to look at risk. Other companies are developing new 2014, compared with years to milestones and trust me that the science works.’ ” technologies, aided by informatics, to attack age-old scourges. $44.3M the previous quarter Ms. Beim outsourced the genomic sequencing that feeds her algorithms: “We Immunovent has developed new techniques to test for allergies, and Tear Glucose Source: PricewaterhouseCoopers/ started to look, from a risk standpoint, like a tech company.” National Venture Capital Association Research has a noninvasive device for checking glucose levels in diabetics. Dual MoneyTree Report profiles by judith messina

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REPORT HEALTH CARE Six biotech startups to watch

Predicting the timing, likelihood of pregnancy WHY IT’S HOT: Celmatix has developed a platform that helps patients and doctors predict the time to a successful pregnancy—or learn that it is unlikely. In either case, patients get realistic assessments of their chances and can make decisions about next steps while doctors get information for personalizing treatments. The infertility market is estimated to be about $3.5 billion.

hen Piraye Yurttas Beim and Laura Towart long it will take a woman to get pregnant. Bandak founded Celmatix in Ms. Bandak’s Celmatix has partnerships with large reproductive WTriBeCa living room in 2009, they had no centers throughout the U.S. to amass the data that feed income or health insurance. The two Ph.D.s did have a big its algorithms. idea—to use data and predictive analytics to improve the The infertility market is growing and could hit $4 billion success rate of in vitro fertilization. They would analyze by 2018 as techniques improve, according to MarketData genetic mutations in eggs and other factors that cause IVF Enterprises in Tampa, Fla. to fail and couples to give up. Celmatix is in the sweet spot of that market, not only helping infertile couples but also CELMATIX those who want to plan for the future Funding : $8 million, seed and Series A by knowing their chances of a healthy Target: Infertility pregnancy. CEO: Piraye Yurttas Beim “Our long-term vision is to address fertility planning, to [help women] make decisions based on personal metrics rather than age alone,” said

Ms. Beim. buck ennis Investors like what they see, having IMMUNOVENT Funding: Six-figure seed stage. Target: Allergies. CEO: Kate Rochlin staked the company to $8 million in venture money in seed and Series A rounds. Now Celmatix is raising Brush may replace allergy pricks another $10 million. In March, the company started clinical trials at five WHY IT’S HOT: Immunovent has developed a less painful and fertility clinics around the country, possibly more accurate way to test for allergies using a brush including Reproductive Medicine Associates of New York. to collect cells from inside the cheek or nose. In the U.S., more buck ennis What could cool prospects: than $1.2 billion is spent annually on allergy tests, which can “There are a lot of missed opportunities in fertility care,” Ongoing clinical trials will provide a broad test of be uncomfortable (prick tests can require multiple needles) said Ms. Beim, chief executive of Celmatix. “What we’ve Celmatix’s efforts to marry fertility, genetics and big data. and inaccurate (they often come up as negative or falsely learned is that people are not getting to the high-likelihood- Expert opinion: Celmatix data are helping patients positive). of-success treatment options fast enough or [they’re not choose more successful treatment strategies, said Dr. getting to those options] at all.” Alan Copperman, director of the division of reproductive n allergy sufferer, Kate Rochlin was more than interested in the fall of Five years later, Celmatix’s technology, dubbed endocrinology at Mount Sinai Medical Center. 2012 when she heard Weill Cornell immunologist Dr. William Polaris, analyzes genetic and other information gleaned “Knowing who is at risk of having problems—that’s the AReisacher talk about his idea for a new kind of test that could diag- from blood and clinical tests to predict whether and how game changer,” he said. Ⅲ nose allergies at the points on the body where they occur. Ms. Rochlin, then a Ph.D. student in molecular and cellular biology, emailed him, saying she thought she could help him refine the idea.Today, they are co-founders of biotech startup Immunovent, based at life-sciences incubator Harlem Biospace. Immunovent’s method uses a brush to collect cells from inside the cheek Molecule to fight cancer or nose and tests them with what it calls its Local Antibody WHY IT’S HOT: A cure for cancer is the holy Mucosal Brush Diagnostic. ‘Allergies are grail of biotechnology, and Dual Therapeutics LAMB-Dx can identify as many curable ... but you is working on a molecule that could speed as 50 different antibodies against irritants that are not detectable that quest. through skin or blood tests. Food need an accurate he year-old company uses a new tactic against allergies are a specialty. Blood diagnosis’ cancer: technology to reactivate tumor-suppressor tests, for example, find only 50% Tgenes that get turned off as a cancer grows and of peanut allergies, according to spreads. Better, it can hit multiple pathways that cancer Ms. Rochlin. Last year, in a test uses to circumvent those genes. The technology is so with 20 people, Immunovent de- promising that last year Dual Therapeutics, which has tected 100%, she said. about 10 employees, won a $250,000 BioAccelerate Physicians who have heard about LAMB-Dx are already calling and prize from the Partnership Fund for New York City. emailing to find out where they can get the test.Ultimately,Ms.Rochlin en- buck ennis visions physicians’ being able to get results on the spot. “Traditionally, you hit one pathway or the other,” said DUAL THERAPEUTICS Dual Therapeutics co-founder Michael Ohlmeyer, an Funding: More than $5 million in prizes and venture dollars “Allergies are treatable and curable by doing immune therapy, but you associate professor of structural and chemical biology at Target: Cancer need an accurate diagnosis,” said Ms. Rochlin, one of three full-timers at the Icahn School of Medicine at Mount Sinai. “Early on, CEO: Michael Ohlmeyer Immunovent. A participant in the city’s biotech and health Entrepreneurship Lab and we realized we could hit two pathways and inhibit multiple the winner of the Mid-Atlantic Bio Angels’ best-in-show award last fall, oncogenic signaling pathways. We know now [we can hit] extend overall survival by less than a year, as the disease Immunovent has raised a seed round of “well into six figures” from high- tends to recur. Clinical trials could start as early as 2015. more than two.” net-worth individuals, Ms. Rochlin said. The company is wrapping up Born at Mount Sinai in the lab of geneticist and co- What could cool prospects: “Are we testing these R&D this fall and looking for money and/or partners to start clinical trials. founder Dr. Goutham Narla (who is now at Cleveland compounds in the right, best cancers, given their novel What could cool prospects: Immunovent is up against a big, entrenched Clinic), Dual Therapeutics is at Harlem Biospace. Dr. Narla action?” asked Dr. Narla. allergy-testing industry,said Ms.Rochlin:“It can be hard to change a physi- said it has received additional funding, $5 million, and a Expert opinion: BioMotiv’s involvement gives the cian’s mind.” commitment for more, from BioMotiv, a venture-capital- company a leg up. “They brought management, expertise Expert opinion: If successful, Immunovent could usher in a new era in al- backed drug-discovery company in Cleveland. and entrepreneurial talent ... to build and scale an early- lergy diagnostics, a field that hasn’t changed in decades. “It’s really hungry One of Dual’s first targets is prostate cancer, where stage company,” said Maria Gotsch, CEO of the for some innovation,” said Tom Cirrito, a biotech entrepreneur and investor two of the major drugs in use have $2 billion in sales but Partnership Fund. Ⅲ in Immunovent. Ⅲ Continued on Page 16

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Company undercuts cost of genetic tests Tackling C. difficile WHY IT’S HOT: Recombine offers genetic testing to prospective parents for $500, a WHY IT’S HOT: Symbiotic Health has much lower cost than is typical in the market. Genomics testing is a burgeoning created a “poop” pill, a capsule field, expected to hit $25 billion by 2021. containing processed fecal matter ike many hot biotech View, Calif.-based 23andMe, that combats Clostridium difficile, the and bioinformatics which was pitching to most common hospital-acquired L startups, Recombine is consumers. infection in the U.S. and a killer of betting on big data. The three- Recombine turned 14,000 Americans annually. year-old company’s secret: profitable last fall on revenue customized analysis of of $3.5 million and so far has anhattan-based Symbiotic Health genetic markers and helped 10,000 couples, said could radically change the proprietary computer Mr. Bisignano. Next year, it Mtreatment of that nasty scourge, algorithms that interpret DNA plans to offer a fertility map which wreaks havoc in the intestines, causing information. to researchers studying the recurrent and severe diarrhea and even Recombine screens for complex factors that go into ruptured colons in more than 330,000 more than 200 different problems such as recurrent patients a year. conditions, identifying pregnancy loss. With C. diff often develops after the use of couples who carry problem RECOMBINE business rapidly growing, it is broad-spectrum antibiotics, which fight SYMBIOTIC HEALTH genes and selecting embryos Funding: $3.5M now adding bioinformatists, infection but can kill off good bacteria in the Funding: Seeking seed stage Target: C. difficile for in vitro fertilization. Target: Genetic disease genetic counselors, gut. More antibiotics are the typical CEO: Alex Bisignano CEO: Gerald Honig California-based Illumina engineers, and sales and treatment, but fecal transplants that buck ennis sells the DNA sequencing buck ennis customer service people to its repopulate ravaged colons are more technology, which is also available to 50-person workforce. effective, achieving an 81% success rate, versus 31%, according to a recent test in Europe. Recombine’s competitors, but Recombine gets Recombine also hopes to apply its software The problem is the “ick factor.” Medical workers typically collect fecal matter from healthy results faster and more cheaply, and with more in markets that have yet to exploit the power of people, process and filter it, and transplant it via enema or nasal tubes. Only a handful of confidence, said co-founder Alex Bisignano. genomics, such as oncology, where DNA data doctors do the procedure, and fewer than 1,000 patients have undergone it. “Genomics as a paradigm has shifted,” he can be used to predict which patients will One-year-old Symbiotic Health—founded by Dr. Bruce Hirsch, an infectious-disease specialist said. “You used to run a single test and report to respond well to treatment. at North Shore-LIJ Health System, and immunologist Gerard Honig—has come up with a way to the doctor ‘yes’ or ‘no.’ Today, we run a single What could cool prospects: Two 800- process and encapsulate the feces in a pill that can also be refrigerated for later use. A test and get thousands of pieces of pound gorillas dominate the sector—Quest and preliminary test with 23 patients cleared up C. diff in an astounding 87% of the cases. information.” LabCorp perform much of the lab testing in the “The data were the impetus for us to hit the ground running in terms of commercial Recombine raised seed money of $450,000 United States. Either could develop a development,” said Mr. Honig, Symbiotic’s chief executive. Ensconced at Harlem Biospace, in 2012 and an additional $3.3 million in March competing low-cost product. Symbiotic Health has been self-funded up to now, but its founders are looking for backing. in a round led by FirstMark Capital. Expert opinion: If Recombine moves fast, it What could cool prospects: The company has to perfect the process of growing the good Headquartered at Harlem Biospace, with a may win a powerful first-mover advantage and bacteria in bulk instead of collecting it from donors, all the while achieving the highest safety lab in Livingston, N.J., Recombine started be scalable. Investor Matt Turck, a managing standards. selling to physicians and fertility clinics in partner at FirstMark Capital, said, “The life- Expert opinion: “If they can come up with a primary treatment that has a very low January 2013, avoiding the FDA stumbling science skill set is increasingly about software recurrence rate, it would have a huge impact,” said Dr. Larry Miller, North Shore-LIJ’s chief of blocks that temporarily shut down Mountain and data mining.” Ⅲ gastroenterology. Ⅲ

16 | Crain’s New York Business | August 4, 2014 20140804-NEWS--0016,0017-NAT-CCI-CN_-- 7/31/2014 7:27 PM Page 2

Device offers less pain for diabetics

WHY IT’S HOT: Tear Glucose Research has an innovative way to measure the glucose in human tears, potentially revolutionizing disease management for diabetics. More than 21 million people in the U.S. have been diagnosed with diabetes—90% of them with type 2, which means they don’t necessarily have to inject insulin every day, but they still have to keep close tabs on their glucose levels. TEAR GLUCOSE RESEARCH Funding: $100,000 n 1999, after he sold his first Rosen, director of ophthalmology Target: Diabetes CEO: medical-device business, Anthony research at the New York Eye and Anthony Cappo ICappo started Opticology, a Ear Infirmary,who has worked with Ⅲ Chelsea-based, five-person, custom the young company. buck ennis optical manufacturing and service business whose clients include Unilever and NASA. Opticology often ends up creating new products for clients,a talent Mr.Cappo is now applying to helping diabetics manage their condition. Several years ago,working with a couple of clients—New York Eye and Ear Infirmary of Mount Sinai on dry eye, and Columbia Presby- terian on a device to measure minute Let your amounts of a chemical—Mr.Cappo put two and two together. The result is an instrument the size of a pen with a chemically sen- sitized tip that, when touched to the health plan go tiny well of moisture inside the bottom eyelid, measures the amount of glucose in human tears, a direct cor- relate to what’s in the blood. In 2010, he spun out Tear Glu- to the birds. cose Research—one of a growing number of firms bridging the med-

The potential DoD you see a solution to the to revolutionize ggrowing gaps in your beneﬁ ts?

how diabetics YourY employees may. manage their It’sIt called voluntary insurance, and almost disease 660 percent of employees wish their employer ooffered it1.

In this changing insurance landscape, Afl ac has ooffered voluntary coverage and nothing else for ical-device and biotech worlds—to nnearly 60 years. And it shows. With a one-day ramp up R&D and commercialize aaverage turnaround2 for online claims, Afl ac is a the new instrument. City officials awarded the com- greatg way to make employees happy, which may pany $100,000 in last year’s Pilot makem you happy as well. Health Tech competition, and a study this fall will try it on a small BestB of all, Afl ac comes at no direct cost to group of patients. Clinical partner New York Eye and Ear has also put employerse like you. Just add a payroll deduction, up some money, said Mr. Cappo. notifyn your workforce and let it fl y. “Diabetes is a big drain on the health care system,”said Mr.Cappo. CallC your local agent and visit “[With Tear Glucose’s device], diabetics can test with something that aafl ac.com/business is not inconvenient and not painful, and they can do [it] anywhere.” What could cool prospects: Google is developing a contact lens embed- ded with an electronic glucose sen- sor.Mr.Cappo thinks his solution is easier, especially for elderly diabetics or people who have never worn contact lenses. Better yet, human tears contain bits of chemicals that are bellwethers for other diseases. 12013 Afl ac WorkForces Report, a study conducted by Research Now on behalf of Afl ac, January 7 – 24, 2013. 2Afl ac Company Statistics, October 2013, One day processing turnaround based on business Expert opinion: “[We may be able] days after required documents are received. Online claims available for Accident, Sickness, Cancer & Wellness claims. Coverage is underwritten by American Family Life Assurance Company to look at compounds that may be of Columbus. In New York, coverage is underwritten by American Family Life Assurance Company of New York. Worldwide Headquarters | 1932 Wynnton Road | Columbus, GA 31999 important in other eye diseases, sys- Z131176 11/13 temic inflammatory disease and diseases of the skin,” said Dr. Richard

August 4, 2014 | Crain’s New York Business | 17

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North Bend LLC. Arts. of Org. filed Notice of Formation of 91/93/95 Construction Management services for the with Secy. of State of NY (SSNY) on HIGHGATE LLC. Arts. of Org. filed Notice of Formation of Laika post- Sandy restoration of the New York Notice of Formation of LLC. Fifth 7/8/14. Office location: NY County. with Secy. of State of NY (SSNY) on Productions, LLC. Arts. of Org. filed Aquarium (NYA). A mandatory site visit will Avenue Apartment, LLC. Arts. of Org. SSNY designated as agent of LLC 07/12/13. Office location: NY County. with Secy. of State of NY (SSNY) on take place at 10:00 AM on August 11, 2014. filed with Secy. of State of NY (SSNY) upon whom process against it may Princ. office of LLC: 241 W. 37th St., 06/24/14. Office location: NY County. Proposals are due by 5:00 PM on August on 4/29/2014. Office Location: New be served. SSNY shall mail process 3rd Fl., NY, NY 10018. SSNY desig- SSNY designated as agent of LLC 29, 2014. Small and minority businesses York County. SSNY designated as to: c/o Seymour Alpert, 1930 nated as agent of LLC upon whom upon whom process against it may and women’s business enterprises are agent of LLC upon whom process Broadway, NY, NY 10023. Purpose: process against it may be served. be served. SSNY shall mail process encouraged to apply. against it may be served. SSNY any lawful activity. SSNY shall mail process to the LLC to: 242 West 30th St., 6th Fl., NY, NY The RFP is available online at shall mail process to: Ganfer & at the addr. of its princ. office. 10001. Purpose: any lawful activities. ftp://ftp.wcs.org Shore, LLP, 360 Lexington Ave., New Notice of Qualification of WT 3G Purpose: Any lawful activity. User name: publicftp York, NY 10017. Duration: perpetual. LLC. Authority filed with NY Dept. of 94 Realty LLC. Arts. of Org. filed with Password: Gorilla# Purpose: Any lawful activity. State on 6/13/14. Office location: NY Notice of Formation of 269 WEST 11TH Secy. of State of NY (SSNY) on Click on Public folder County. LLC formed in DE on LLC. Arts. of Org. filed with Secy. of 09/17/97. Off. loc.: NY Co. SSNY des. Open the NYA RFP - Restoration of the Notice of Formation of East 162nd 4/21/14. NY Sec. of State designated State of NY (SSNY) on 07/02/14. as agent of LLC upon whom process New York Aquarium folder Street Associates LLC. Arts. of Org. agent of LLC upon whom process Office location: NY County. Princ. may be served. SSNY shall mail process If you have technical problems accessing filed with Secy. of State of NY (SSNY) against it may be served and shall office of LLC: 269 W. 11th St., NY, NY to the LLC, 9 Park Pl., #1E, Great the documents online, email us at on 5/21/14. Office location: NY County. mail process to: c/o CT Corporation 10014. SSNY designated as agent of Neck, NY 11021. Purpose: General. [email protected] for assistance. SSNY designated as agent of LLC System, 111 8th Ave., NY, NY 10011, LLC upon whom process against it Your email should include your firm name, regd. agent upon whom process may upon whom process against it may may be served. SSNY shall mail Notice of Formation of Broadway email address, contact person and tele- be served. DE addr. of LLC: 1209 be served. SSNY shall mail process process to c/o Corporation Service Decatur Master Leasing LLC. Arts. of phone number. Orange St., Wilmington, DE 19801. to: c/o B&B Supportive LLC, 419 Co., 80 State St., Albany, NY 12207. Org. filed with Secy. of State of NY Cert. of Form. filed with DE Sec. of Park Avenue South, 18th Fl., NY, NY Purpose: Any lawful activity. (SSNY) on 6/12/14. Office location: NY State, 401 Federal St., Dover, DE 10016. Purpose: any lawful activity. County. SSNY designated as agent of 19901. Purpose: all lawful purposes. TELECOMMUNICATIONS 545WALDINE LLC, Arts. of Org. filed LLC upon whom process against it may Notice of Formation of SAGE MAN- with the SSNY on 07/29/2014. Office be served. SSNY shall mail process to: LUNGTA ONE, LLC, a domestic LLC, AGEMENT NYC, LLC. Arts. of Org. loc: NY County. SSNY has been c/o Alembic Community Development, filed with the SSNY on 3/27/14. filed with Secy. of State of NY designated as agent upon whom 11 Hanover Square, #701, NY, NY Office location: New York County. (SSNY) on 07/01/14. Office location: process against the LLC may be 10005. Purpose: any lawful activity. 33 East 33rd Street NY County. SSNY designated as SSNY is designated as agent upon served. SSNY shall mail process to: New York, NY 10016 agent of LLC upon whom process whom process against the LLC may C/O Mintz & Gold LLP, 470 Park Ave. be served. SSNY shall mail process S., 10th Flr. N., NY, NY 10016. Notice of Qualification of RCX 212-532-7400 against it may be served. SSNY shall Partners LLC filed with the NY Dept. mail process to the LLC, Attn: Rabbi to The LLC, 130 Jane St., Ste. 5G, Purpose: Any Lawful Purpose. [email protected] NY, NY 10014. General Purposes. of State on July 1, 2014. LLC formed David Korn, 353 Bowery, NY, NY in NYS on June 30, 2014. NY Sec. of NOTICE OF FORMATION OF LIMITED EMERGENCY 10003. Purpose: Any lawful activity. State designated agent of LLC upon Notice of Formation of GG RED LIABILITY COMPANY. NAME: HAY COMMUNICATIONS whom process against it may be HOLDING, LLC. Arts. of Org. filed PARTNERS LLC. Articles of Organization Notice of Qualification of Cole FD served and shall mail process to SYSTEMS with Secy. of State of NY (SSNY) on were filed with the Secretary of State Portfolio VII, LLC. Authority filed with office location c/o Murray Hill SPECIALISTS 07/25/14. Office location: NY County. of New York (SSNY) on 10/19/05. NY Dept. of State on 5/9/14. Office Properties 277 Park Avenue, 21st • FREE PICKUP & DELIVERY SSNY designated as agent of LLC Office location: New York County. location: NY County. Princ. bus. addr.: floor. Purpose: All lawful purposes. • 48 HOUR TURNAROUND 2325 E. Camelback Rd., Ste. 1100, upon whom process against it may SSNY has been designated as agent ON REPAIRS Phoenix, AZ 85016. LLC formed in be served. SSNY shall mail process of the LLC upon whom process 313 West 71 Realty LLC. Arts. of Org. • FREE ENGRAVING DE on 2/11/14. NY Sec. of State to Marc Fitapelli, Esq., 475 Park Ave. against it may be served. SSNY shall filed with Secy. of State of NY (SSNY) designated agent of LLC upon whom South, 12 Fl., NY, NY 10016. mail a copy of process to the LLC, • SHORT & LONG TERM on 07/24/14. Off. loc.: NY Co. SSNY RENTALS process against it may be served Purpose: Any lawful activity. P.O. Box 1755, New York, New York des. as agent of LLC upon whom and shall mail process to: c/o CT 10156-1755, ATTN: Farbod Hay. process may be served. SSNY shall Corporation System, 111 8th Ave., T LINE MANAGEMENT LLC, Arts of Purpose: For any lawful purpose. mail process to 313 West 71st St., New NY, NY 10011. DE addr. of LLC: 1209 Org filed with SSNY on 12/09/13. York, NY 10023. Purpose: General. Orange St., Wilmington, DE 19801. Off. Loc.: New York County. SSNY Notice of Qualification of DYE Fine Cert. of Form. filed with DE Sec. of designated as agent of LLC upon Art, LLC. Authority filed with NY Dept. State, 401 Federal St., Dover, DE whom process against it may be of State on 6/2/14. Office location: Notice of Qualification of DOLP 825 19901. Purpose: all lawful purposes. served. SSNY shall mail a copy of NY County. LLC formed in DE on PROPERTIES II LLC. Authority filed process to: The LLC, 160 W. 66th 5/13/14. NY Sec. of State designated with Secy. of State of NY (SSNY) on PUBLIC & Notice of Qualification of THOR 164 St., #29D, New York, NY 10023. agent of LLC upon whom process 07/25/14. Office location: NY County. 5TH AVE LLC. App. for Auth. filed Purpose: to engage in any lawful act. against it may be served and shall LLC formed in Delaware (DE) on LEGAL NOTICES with Secy. of State of NY (SSNY) on mail process to: DYE Fine Art, LLC, 24 07/24/14. SSNY designated as agent 7/15/13. Office location: NY County. Notice of Formation of DONALBANE Vestry St., NY, NY 10013, principal of LLC upon whom process against it LLC formed in Delaware (DE) on HOUSE LLC. Arts. of Org. filed with business address. DE address of LLC: may be served. SSNY shall mail Notice of Formation of ELOD STUDIO, 7/11/13. SSNY designated as agent Secy. of State of NY (SSNY) on The Corporation Trust Co., 1209 process to c/o Royal Realty Corp., LLC. Arts. of Org. filed with Secy. of of LLC upon whom process against it 07/28/14. Office location: NY County. Orange St., Wilmington, DE 19801. Attn: Corporate Counsel, One Bryant State of NY (SSNY) on 07/17/14. may be served. SSNY shall mail SSNY designated as agent of LLC Cert. of Form. filed with DE Sec. of Park, NY, NY 10036. DE addr. of LLC: Office location: NY County. SSNY process to: c/o Thor Equities, LLC, upon whom process against it may State, 401 Federal St., Dover, DE c/o Corporation Service Co., 2711 designated as agent of LLC upon 25 W. 39th St., NY, NY 10018. DE be served. SSNY shall mail process 19901. Purpose: all lawful purposes. Centerville Rd., Ste. 400, Wilmington, whom process against it may be address of LLC: c/o National Registered to c/o Corporation Service Co., 80 DE 19808. Arts. of Org. filed with served. SSNY shall mail process to Agents, Inc., 160 Greentree Drive, State St., Albany, NY 12207-2543. 747 STUYVESANT IV, L.P. filed an App. Secy. of the State of DE, Div. of Corporation Service Co., 80 State St., Ste. 101, Dover, DE 19904. Arts. of Purpose: Any lawful activity. for Authority with the NY Department Corps., John G. Townsend Bldg., Albany, NY 12207, regd. agent upon Org. filed with DE Secy. of State, 401 of State on 2/13/2014. Jurisdiction: DE, 401 Federal St., Ste. 4, Dover, DE whom and at which process may be Federal St., Ste. 4, Dover, DE 19901. Notice of Qualification of BLUE RI and the date of its formation is 19901. Purpose: Any lawful activity. served. Purpose: Any lawful activity. Purpose: any lawful activity. ADVISORY (USA), LLC. Authority filed 4/16/2013. Office location in NYS: New with Secy. of State of NY (SSNY) on York County. The Secretary of State Notice of Qualification of Crestview Notice of Qualification of Custom Notice of Qualification of Especial LLC. 07/09/14. Office location: NY County. of NY ("SSNY") is designated as Partners III (DE Offshore), L.P. House USA, LLC. Authority filed with Authority filed with Secy. of State of NY LLC formed in Delaware (DE) on agent upon whom process against it Authority filed with NY Dept. of State NY Dept. of State on 6/5/14. NYS (SSNY) on 02/12/14. Office location: 12/10/13. Princ. office of LLC: c/o may be served. The address to which on 6/16/14. Office location: NY County. fict. name: Western Union Business NY County. LLC formed in Delaware BlueMountain Capital Management, the SSNY shall mail a copy of such Princ. bus. addr.: 667 Madison Ave., Solutions, LLC. Office location: NY (DE) on 02/10/14. SSNY designated LLC, Attn: Paul Friedman, 280 Park process is: Attn: Mr. Gijs van Thiel, c/o 10th Fl., NY, NY 10065. LP formed in County. Princ. bus. addr.: 12500 E. as agent of LLC upon whom process Ave., 12th Fl., NY, NY 10017. SSNY 747 Capital, LLC, 880 Third Ave., 17th DE on 6/10/14. NY Sec. of State Belford Ave., Englewood, CO 80112. against it may be served. SSNY shall designated as agent of LLC upon Flr. NY NY 10022 The address in its designated agent of LP upon whom LLC formed in DE on 5/31/14. NY Sec. mail process to: National Registered whom process against it may be jurisdiction if required or the office process against it may be served and of State designated agent of LLC Agents, Inc., 111 Eighth Ave., NY, NY served. SSNY shall mail process to address: 2711 Centerville Rd., Suite shall mail process to: CT Corporation upon whom process against it may be 10011, also the registered agent. the LLC at the addr. of its princ. office. 400, Wilmington DE 19808. A copy System, 111 8th Ave., NY, NY 10011. served and shall mail process to: CT Address to be maintained in DE: DE addr. of LLC: c/o Corporation of the Articles of Organization may DE addr. of LP: c/o The Corporation Corporation System, 111 8th Ave., National Registered Agents, Inc., 160 Service Co., 2711 Centerville Rd., be obtained from Sect'y of State of Trust Co., 1209 Orange St., NY, NY 10011. DE addr. of LLC: 1209 Greentree Dr., Ste. 101, Dover, DE Ste. 400, Wilmington, DE 19808. DE, 401 Federal St., Dover DE 19901. Wilmington, DE 19801. Name/addr. Orange St., Wilmington, DE 19801. 19904. Arts of Org. filed with the DE Arts. of Org. filed with DE Secy. of The list of names and addresses of of genl. ptr. available from NY Sec. of Cert. of Form. filed with DE Sec. of Secy. of State, Division of Corporations, State, John G. Townsend Bldg., 401 all general partners is available from State. Cert. of LP filed with DE Sec. State, 401 Federal St., Dover, DE 401 Federal St., Ste. 4, Dover, DE Federal St., Ste. #4, Dover, DE the Secretary of State. The purpose of State, 401 Federal St., Dover, DE 19901. Purpose: all lawful purposes. 19901. Purpose: any lawful activities. 19901. Purpose: Any lawful activity. of the LP is any lawful act. 19901. Purpose: all lawful purposes.

18 | Crain’s New York Business | August 4, 2014 P018-21CL_CN_20140804.qxp 8/1/2014 2:33 PM Page 19

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of Cerberus KRS Notice of Qualification of RWAY Notice of Qualification of Dune Notice of Qualification of GERSSE LLC. Notice of Qual. of Valarc GP, LLC, Levered Loan Opportunities Fund, PRIVATE EQUITY MANAGERS Parallel AIV II LP. Authority filed with Authority filed with Secy. of State of NY Auth. filed Sec'y of State (SSNY) L.P. Authority filed with Secy. of State FOREIGN INCOME BLOCKER LLC. NY Dept. of State on 7/3/14. Office (SSNY) on 05/19/14. Office location: 9/3/13. Office loc.: NY County. LLC of NY (SSNY) on 06/20/14. Office Authority filed with Secy. of State of NY location: NY County. Princ. bus. addr.: NY County. LLC formed in Delaware org. in DE 8/15/13. SSNY desig. as location: NY County. LP formed in (SSNY) on 07/23/14. Office location: 623 5th Ave., 30th Fl., NY, NY 10022. (DE) on 04/07/14. Princ. office of LLC: agent of LLC upon whom process Delaware (DE) on 06/09/14. Princ. NY County. LLC formed in Delaware LP formed in DE on 6/30/14. NY Sec. 285 3rd Ave., Apt. 3, NY, NY 10010. against it may be served. SSNY shall office of LP: Seth P. Plattus, c/o (DE) on 07/03/13. Princ. office of LLC: of State designated agent of LP upon SSNY designated as agent of LLC mail copy of proc. to Att: Hari Cerberus Levered Loan Opportunities 200 West St., 38th Fl., NY, NY 10282. whom process against it may be upon whom process against it may Ramanan, 900 Third Ave., Ste. 202, Fund II, L.P., 875 Third Ave., 11th Fl., SSNY designated as agent of LLC served and shall mail process to: c/o be served. SSNY shall mail process NY, NY 10022. DE off. addr.: CSC, NY, NY 10022. SSNY designated as upon whom process against it may be CT Corporation System, 111 8th Ave., to c/o Corporation Service Co., 80 2711 Centerville Rd., Wilmington, DE agent of LP upon whom process served. SSNY shall mail process to NY, NY 10011, regd. agent upon State St., Albany, NY 12207-2543. 19808. Cert. of Form. on file: SSDE, against it may be served. SSNY shall c/o Corporation Service Co. (CSC), 80 whom process may be served. DE DE addr. of LLC: 2711 Centerville Townsend Bldg., Dover, DE 19901. mail process to the LP at the addr. of State St., Albany, NY 12207-2543. DE addr. of LP: 1209 Orange St., Rd., Ste. 400, Wilmington, DE 19808. Purp.: any lawful activities. its princ. office. Name and addr. of addr. of LLC: CSC, 2711 Centerville Wilmington, DE 19801. Name/addr. of Arts. of Org. filed with DE Secy. of each general partner are available Rd., Ste. 400, Wilmington, New each genl. ptr. available from NY Sec. State, 401 Federal St., #4, Dover, DE NES GROUP HOLDINGS LLC, Arts. from SSNY. DE addr. of LP: c/o The Castle Cnty., DE 19808. Arts. of Org. of State. Cert. of LP filed with DE Sec. 19901. Purpose: Restaurant reviews. of Org. filed with the SSNY on Corporation Trust Co., Corp. Trust filed with Secy. of State of DE, Div. of of State, 401 Federal St., Dover, DE 05/29/2014. Office loc: NY County. Center, 1209 Orange St., Wilmington, Corps., John G. Townsend Bldg., 401 19901. Purpose: all lawful purposes. FREMONT BLUE EVENTS LLC, a SSNY has been designated as agent DE 19801. Arts. of Org. filed with DE Federal St. - Ste. 4, Dover, DE 19901. domestic LLC, filed with the SSNY on upon whom process against the LLC Secy. of State, John G. Townsend Purpose: Making investments. Notice of Formation of Limited 5/1/14. Office location: New York may be served. SSNY shall mail Bldg., 401 Federal St., Ste. #4, Dover, Liability Company (LLC). Name: MSA County. SSNY is designated as agent process to: 20 W 33rd St., 6th Flr., NY, DE 19901. Purpose: Any lawful activity. NOTICE OF FORMATION OF LIMITED PARTNERS HC, LLC. Articles of upon whom process against the LLC NY 10001. Reg. Agent: Nissim Gindi, LIABILITY COMPANY. NAME: Organization filed with Secretary of may be served. SSNY shall mail process 20 W 33rd St., 6th Flr., NY, NY 10001. Deer Equities, LLC. Arts. of Org. filed OSPREY WESTSIDE NY LLC. State of New York (SSNY) on April 25, to The LLC, 20 W. 22nd St., #807, Purpose: Any Lawful Purpose. with Secy. of State of NY (SSNY) on Articles of Organization were filed with 2014. County: New York. SSNY NY, NY 10010. General Purpose. 07/17/14. Off. loc.: NY Co. SSNY the Secretary of State of New York designated as agent of LLC upon Notice of Formation of Whim of Iron des. as agent of LLC upon whom (SSNY) on 05/23/14. Office location: whom process against it may be Notice of Formation of Rapaport NY LLC. Arts. of Org. filed with NY Dept. process may be served. SSNY shall New York County. SSNY has been served. SSNY shall mail copy of LLC. Arts. of Org. filed with Secy. of of State on 5/8/2014. Office location: mail process to the LLC, 450 designated as agent of the LLC upon process to 25 East 69th Street, New State of NY (SSNY) on 6/23/14. NY County. Sec. of State designated Seventh Ave., Ste. 1100, New York, whom process against it may be York, NY 10021-4925. Purpose: to Office location: NY County. SSNY agent of LLC upon whom process NY 10123. Purpose: General. served. SSNY shall mail a copy of engage in any and all business for designated as agent of LLC upon against it may be served and shall process to the LLC, c/o City Skyline which LLCs may be formed under the whom process against it may be mail process to the principal business Beechwood Developers LLC. Arts. of Realty Inc., 507 West 139th Street, New York LLC Law. served. SSNY shall mail process to: address: c/o New York Wheel LLC, 21 Org. filed with Secy. of State of NY Suite A, New York, New York 10031. The LLC, 1212 Avenue of the Penn Plaza, NY, NY 10001, Attn: Chief (SSNY) on 06/16/14. Off. loc.: NY Purpose: For any lawful purpose. Notice of Formation of Akeedube Americas, 8th Fl., NY, NY 10036. Executive Officer. Term: until 12/31/2114. Co. SSNY designated as agent of License Holdings, LLC. Arts of Org. Purpose: any lawful activity. Purpose: any lawful activity. LLC upon whom process may be Notice of Formation of EMPIRE filed with Secy of State of NY (SSNY) served. SSNY shall mail process to COMPOUNDING SERVICES II, LLC. on 05/28/2014. Office location: New Notice of Formation of 134 WEST GI Health and Medical, PLLC, Articles 248 W 35th St., 14th Fl., New York, Arts. of Org. filed with Secy. of State York County. Princ. office of LLC: 145 LLC. Arts. of Org. filed with Secy. of of Organization filed with Secretary of NY 10001. Purpose: General. of NY (SSNY) on 06/03/14. Office East 50th Street, New York, NY 10022. State of NY (SSNY) on 5/21/14. State of NY (SSNY) on 05/20/14. Office location: NY County. Princ. office of SSNY designated as agent of LLC Office location: NY County. SSNY Location: NY County. SSNY designated Notice of Formation of DILIP D. LLC: Victor Ventures, 460 Park Ave., upon whom process against it may designated as agent of LLC upon as agent of LLC upon whom process MADNANI, M.D., PLLC. Arts. of Org. 17th Fl., NY, NY 10022. SSNY desig- be served. SSNY shall mail process whom process against it may be against it may be served. SSNY filed with Secy. of State of NY nated as agent of LLC upon whom to the LLC at the addr. of its princ. served. SSNY shall mail process to: shall mail a copy of process to: The (SSNY) on 05/30/14. Office location: process against it may be served. Office. Purpose: Any lawful activity. c/o Office of Lawrence E. Fabian, PLLC 139 Centre St., Ste. 609, New NY County. Princ. office of PLLC: SSNY shall mail process to the LLC Esq., 437 5th Ave., Ste. 801, NY, NY York, NY 10013. Purpose: to engage 820 Second Ave., Ste. 3A, NY, NY at the addr. of its princ. office. Notice of Formation of Kimberly 10016. Purpose: any lawful activity. in the profession of Medicine. 10017. SSNY designated as agent of Purpose: Any lawful activity. License Holdings LLC. Arts of Org. PLLC upon whom process against it filed with Secy of State of NY (SSNY) Notice of Formation of Abigail Public Notice of Formation of BATALI may be served. SSNY shall mail Notice of Formation of DAS INTER- on 06/02/2014. Office location: New Relations, LLC, Art. of Org. filed Sec'y PRODUCTIONS LLC. Arts. of Org. process to the PLLC at the addr. of NATIONAL CAPITAL, LLC. Arts. of York County. Princ. office of LLC: 145 of State (SSNY) 3/10/14. Office loca- filed with Secy. of State of NY (SSNY) its princ. office. Purpose: Practice of Org. filed with Secy. of State of NY East 50th Street, New York, NY 10022. tion: NY County. SSNY designated on 05/21/14. Office location: NY profession of medicine. (SSNY) on 06/30/14. Office location: SSNY designated as agent of LLC as agent of LLC upon whom process County. Princ. office of LLC: 45 E. 20th NY County. Princ. office of LLC: One upon whom process against it may against it may be served. SSNY shall St., NY, NY 10003. SSNY designated Notice of Qual. of CMC Real Estate Battery Park Plaza, NY, NY 10004. be served. SSNY shall mail process mail copy of process to 11 Charlton as agent of LLC upon whom process LLC, with a fictitious name of CMC SSNY designated as agent of LLC to the LLC at the addr. of its princ. St., Apt. 3A, NY, NY 10014. Purpose: against it may be served. SSNY shall Brickell Miami Real Estate LLC, Auth. upon whom process against it may Office. Purpose: Any lawful activity. any lawful activities. mail process to Attn: Cathy Frankel, filed Sec'y of State (SSNY) 2/25/14. be served. SSNY shall mail process Esq. at the princ. office of the LLC. Office loc.: NY County. LLC org. in to Seward & Kissel LLP, Attn: Kalyan Notice of Qual. of Valinor Capital NOTICE OF FORMATION OF Purpose: Any lawful activity. FL 1/6/14. SSNY desig. as agent of Das at the princ. office of the LLC. Partners SPV XVII, LLC, Auth. filed Oppenheimer + Close, LLC. Arts of LLC upon whom process against it Purpose: Any lawful activity. Sec'y of State (SSNY) 12/4/13. Office Org filed with Secy of State of NY SQN ECHO II, LLC, a foreign LLC, may be served. SSNY shall mail loc.: NY County. LLC org. in DE (SSNY) 5/21/14. Office location: NY Authority filed with the SSNY on copy of proc. to Vanessa Grout, 701 Notice of Formation of Cory van den 12/3/13. SSNY desig. as agent of Co. SSNY designated agent upon 3/19/14. Office location: New York Brickell Ave., #2410, Miami, FL Bossche LLC. Arts. of Org. filed with LLC upon whom process against it whom process may be served and County. SSNY is designated as agent 33131, the principal office addr. of Secy. of State of NY (SSNY) on may be served. SSNY shall mail shall mail copy of process against upon whom process against the LLC LLC. Art. of Org. on file: SSFL, PO 06/20/14. Office location: NY County. copy of proc. to Att: David LLC to principal business address: may be served. SSNY shall mail Box 6327, Tallahassee, FL 32314. SSNY designated as agent of LLC Angstreich, 510 Madison Ave., 25th 119 W 57th St, Ste 1515, NY, NY process to: SQN Capital Management, Purp.: any lawful activities. upon whom process against it may Fl., NY, NY 10022. DE off. addr.: CSC, 10019. Purpose: any lawful act. LLC, 110 William Street, 26th Fl., NY, be served. SSNY shall mail process 2711 Centerville Rd., Wilmington, DE NY 10038. General Purposes. THERAPY WEST PSYCHOLOGY to: TRAC- The Registered Agent 19808. Cert. of Form. on file: SSDE, Notice of Formation of LAND-SEE, LMSW, PLLC, a Prof. LLC, Arts. of Company, Inc., 715 St. Paul St., Townsend Bldg., Dover, DE 19901. LLC. Arts. of Org. filed with Secy. of Org. filed with the SSNY on 10/03/2011. Baltimore, MD 21202. Purpose: any Purp.: any lawful activities. State of NY (SSNY) on 03/20/14. NEW YORK WALL STREET HOTEL Office loc: NY County. SSNY has been lawful activities. Office location: NY County. SSNY GROUP LLC, Arts. of Org. filed with designated as agent upon whom NOTICE OF FORMATION OF LIMITED designated as agent of LLC upon whom the SSNY on 02/06/2014. Office loc: NY process against it may be served. Notice of Formation of BEAUTIFUL LIABILITY COMPANY. NAME: 75 WALL process against it may be served. SSNY County. SSNY has been designated SSNY shall mail process to: Jeffrey I. DARKNESS, LLC. Arts. of Org. filed LLC.. Articles of Organization were shall mail process to Corporation as agent upon whom process against Kassinove, Ph.D., 124 W. 79th St., with Secy. of State of NY (SSNY) on filed with the Secretary of State of Service Co., 80 State St., Albany, NY the LLC may be served. SSNY shall Ste 1B, NY, NY 10024. Purpose: To 07/16/14. Office location: NY County. New York (SSNY) on 05/05/14. Office 12207, regd. agent upon whom and mail process to: Eva Y Tsai, 136 Practice The Profession Of Psychology Princ. office of LLC: 110 E. 25th St., location: New York County. SSNY has at which process may be served. Schuessler Ln, Preston Hollow, NY and Licensed Master Social Worker. #102, NY, NY 10010-2913. SSNY been designated as agent of the LLC Purpose: Any lawful activity. 12469. Purpose: Any Lawful Purpose. designated as agent of LLC upon upon whom process against it may be NOTICE OF FORMATION OF whom process against it may be served. served. SSNY shall mail a copy of Notice of Qualification of TRICADIA Notice of Formation Everwild Media OBJECT-IFY 139 LLC. Arts of Org SSNY shall mail process to the LLC, process to the LLC, 17 N State Street, CONVEXITY GP, LLC. Authority filed LLC Arts. of Org. filed with SSNY filed with Secy of State of NY (SSNY) 110 E. 25th St., 4th Fl., NY, NY Suite 1700, Chicago, Illinois 60602. with Secy. of State of NY (SSNY) on 3/11/2009. Off. Loc.: New York Cnty. 5/01/14. Office location: NY Co. SSNY 10010. Purpose: Any lawful activity. Purpose: For any lawful purpose. 06/24/14. Office location: NY County. SSNY designated as agent of LLC designated agent upon whom process LLC formed in Delaware (DE) on whom process may be served. SSNY may be served and shall mail copy of Notice of Qualification of DREF II CIV Notice of Qualification of Crestview 06/18/14. Princ. office of LLC: 780 shall mail process to: c/o Josh Cook, process against LLC to: Maria I Feeder LP. Authority filed with NY Holdings III (DE Offshore), L.P. Third Ave., 29th Fl., NY, NY 10017. 70-64 Yellowstone Blvd, Apt. 1A, Candanoza, 139 Essex St, NY NY Dept. of State on 7/3/14. Office Authority filed with NY Dept. of State SSNY designated as agent of LLC Forest Hills, NY 11375. Purpose: all 10002. Principal business address: location: NY County. Princ. bus. on 6/16/14. Office location: NY County. upon whom process against it may be lawful activities. 139 Essex St, NY, NY 10002. addr.: 623 5th Ave., 30th Fl., NY, NY Princ. bus. addr.: 667 Madison Ave., served. SSNY shall mail process to the Purpose: any lawful act. 10022. LP formed in DE on 6/30/14. 10th Fl., NY, NY 10065. LP formed in LLC at the addr. of its princ. office. Notice of Qual. of Valarc Holdings, LLC, NY Sec. of State designated agent of DE on 6/10/14. NY Sec. of State The regd. agent of the company upon Auth. filed Sec'y of State (SSNY) LP upon whom process against it designated agent of LP upon whom whom and at which process against 9/3/13. Office loc.: NY County. LLC may be served and shall mail process process against it may be served and the company can be served is org. in DE 8/15/13. SSNY desig. as Contact Joanne Barbieri to: c/o CT Corporation System, 111 shall mail process to: CT Corporation Michael Barnes, c/o Tricadia Capital agent of LLC upon whom process 8th Ave., NY, NY 10011, regd. agent System, 111 8th Ave., NY, NY 10011. Management, LLC, 780 Third Ave., against it may be served. SSNY shall upon whom process may be served. DE addr. of LP: c/o The Corporation 29th Fl., NY, NY 10017. DE addr. of mail copy of proc. to Att: Hari at 212-210-0189 for DE addr. of LP: 1209 Orange St., Trust Co., 1209 Orange St., Wilmington, LLC: c/o National Corporate Ramanan, 900 Third Ave., Ste. 202, Wilmington, DE 19801. Name/addr. of DE 19801. Name/addr. of genl. ptr. Research, Ltd., 615 S. DuPont Hwy., NY, NY 10022. DE off. addr.: CSC, classified advertising each genl. ptr. available from NY Sec. available from NY Sec. of State. Cert. Dover, Kent Cnty., DE 19901. Arts. of 2711 Centerville Rd., Wilmington, DE of State. Cert. of LP filed with DE Sec. of LP filed with DE Sec. of State, 401 Org. filed with Secy. of State of the 19808. Cert. of Form. on file: SSDE, opportunities. of State, 401 Federal St., Dover, DE Federal St., Dover, DE 19901. State of DE, 401 Federal St., Dover, DE Townsend Bldg., Dover, DE 19901. 19901. Purpose: all lawful purposes. Purpose: all lawful purposes. 19901. Purpose: Any lawful activity. Purp.: any lawful activities.

August 4, 2014 | Crain’s New York Business | 19 P018-21CL_CN_20140804.qxp 8/1/2014 12:02 PM Page 20

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of HUDSON Qualification of GSO European Senior Qualification of GSO European Senior NOTICE OF QUALIFICATION OF GSO Application for Authority of Maison PROJECT LLC. Authority filed with Debt Fund LP. Authority filed with the Debt Feeder Fund LP. Authority filed European Senior Debt Associates de Beaute, LLC doing business in Secy. of State of NY (SSNY) on Sect. of State of NY (SSNY) on with the Sect. of State of NY (SSNY) on LLC. Authority filed with the Sect of NY as Bespoke Beaute LLC, filed 06/16/14. Office location: NY County. 5/12/14. Office Loc: NY County. LP 5/12/14. Office Loc: NY County. LP State of NY (SSNY) on 5/15/14. N.Y. with the Secy. of State of NY (SSNY) LLC formed in Delaware (DE) on formed in Cayman Islands on 4/29/14. formed in Cayman Islands on 4/29/14. Office Loc: NY County. LLC formed 5/29/14. Formed in DE 5/19/14. 01/16/14. Princ. office of LLC: 430 SSNY has been designated as agent SSNY has been designated as agent in DE on 4/16/14. SSNY has been Office loc.: New York Co. SSNY is Park Ave., 6th Fl., NY, NY 10022. SSNY of LP upon whom process against it of LP upon whom process against it designated as agent of LLC upon designated as agent of LLC upon designated as agent of LLC upon whom may be served and shall mail process may be served and shall mail process whom process against it may be whom process against it may be process against it may be served. SSNY to: 345 Park Avenue, 31st FL, NY, NY to: 345 Park Avenue, 31st FL, NY, NY served and shall mail process to: 345 served. The principal business loc. shall mail process to c/o Corporation 10154. Cayman Islands address of LP: 10154. Cayman Islands address of LP: Park Avenue, 31st FL, NY, NY 10154. is 24 W. 40th St., 10th Fl., New York, Service Co., 80 State St., Albany, NY c/o Maples Corporate Services Limited, c/o Maples Corporate Services Limited, DE addr. of LLC: 200 Bellevue Pkwy, NY 10018. The address SSNY shall 12207-2543. DE addr. of LLC: 2711 PO Box 309, Ugland House, South PO Box 309, Ugland House, South Ste 210, Wilmington, 19809. Cert of mail copy of process to and the Centerville Rd., Ste. 400, Wilmington, Church St, Grand Cayman, KY1-1104. Church St, Grand Cayman, KY1-1104. Form filed with DE Sect of State, 401 required office address maintained in DE 19808. Arts. of Org. filed with Secy. Name/addr. of genl. ptr. avail from Name/addr. of genl. ptr. avail from Federal St, Ste 4, Dover, DE 19901. DE is 305 N. Ashview Lane, Greenville, of State, 401 Federal St., #3, Dover, DE SSNY. Cert. of LP filed with Registrar SSNY. Cert. of LP filed with Registrar Purpose: any lawful activity. DE 19808. Cert. of formation filed 19901. Purpose: Banking reasons. of Companies, 133 Elgin Ave, George of Companies, 133 Elgin Avenue, with Jeffrey W. Bullock, DE Secretary Town, Grand Cayman, KY1-9000. George Town, Grand Cayman KY1- Notice of Formation of Simit & Smith of State, Div. of Corporations, P.O. Notice of Formation of WEST 76 Purpose: any lawful activity. 9000. Purpose: any lawful activity. 11 Waverly Place LLC. Arts. of Org. Box 898, Dover, DE 19903. Purpose: HARRISON 9A, LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) Any lawful activity. filed with Secy. of State of NY (SSNY) Notice of Formation of EAT THIRD Notice is hereby given that a license, on 07/02/14. Office location: NY on 12/08/10. Office location: NY 79 LLC. Arts. of Org. filed with number 1279015, for "On Premises County. SSNY designated as agent Notice of Formation of Euro Mec County. Princ. office of LLC: 205 W. Secy. of State of NY (SSNY) on Liquor License" has been applied for of LLC upon whom process against it Utilities, LLC. Arts. of Org. filed with 76th St., Apt. 9A, NY, NY 10023. 07/02/14. Office location: NY by the undersigned to serve Liquor may be served. SSNY shall mail NY Dept. of State on 6/11/14. Office SSNY designated as agent of LLC County. Princ. office of LLC: 1064 at retail in a restaurant under the process to: 11 Waverly Place, NY, NY location: NY County. Princ. bus. upon whom process against it may Madison Ave., NY, NY 10028. Alcoholic Beverage Control Law at 10003. Purpose: any lawful activities. addr.: 250 Park Ave., 7th Fl., NY, NY be served. SSNY shall mail process SSNY designated as agent of LLC 10177. Sec. of State designated Japonica-U.S.A., Inc. D/B/A Notice of Formation of Consulate to c/o Corporation Service Co., 80 upon whom process against it may Japonica Restaurant, located at 90 agent of LLC upon whom process State St., Albany, NY 12207. Purpose: be served. SSNY shall mail process Hotel Holdings II, LLC, Art. of Org. against it may be served and shall University Pl, New York, NY 10003 filed Sec'y of State (SSNY) 2/20/14. Any lawful activity. to the LLC at the addr. of its princ. for on premises consumption. mail process to: c/o Wilk Auslander office. Purpose: Any lawful activity. Office location: NY County. SSNY LLP, 1515 Broadway, 43rd Fl., NY, NY designated as agent of LLC upon Notice of Formation of LAW OFFICE Notice of formation of VGQ 10036. Purpose: all lawful purposes. NOTICE OF FORMATION OF 488 whom process against it may be OF STACEY FABRIKANT LLC. Arts. CONTRACTORS LLC Arts. of Org. Hospitality Group, LLC. Arts of Org served. SSNY shall mail copy of of Org. filed with SSNY on 5/23/14. filed with the Sect'y of State of NY NOTICE OF FORMATION of Semona filed with Secy of State of NY (SSNY) process to c/o Hampshire Hotels Office location: New York County. (SSNY) on 2/10/2014. Office location, Gems LLC. Arts of Org filed with Secy on 02/10/14. Office location: NY Mgmt., 200 W. 55th St., Ste. 42, NY, NY SSNY designated as agent of LLC County of New York. SSNY has been of State of NY (SSNY) 5/14/14. Office County. SSNY designated as agent 10019. Purpose: any lawful activities. whom process against may be designated as agent of the LLC upon location: NY Co. SSNY designated upon whom process may be served served. SSNY shall mail process to: whom process against it may be agent upon whom process may be and shall mail copy of process Notice of Formation of Rockledge HV C/O THE LLC, 2 East End Ave. #C, served. SSNY shall mail process to: served and shall mail copy of process against LLC to: 95 Delancey Street, LLC, Art. of Org. filed Sec'y of State NY, NY 10075. Purpose: to engage The LLC, 81 Franklin St., New York against LLC to principal business New York, NY 10002. Principal busi- (SSNY) 5/13/14. Office location: NY in the practice of Law. NY 10013. Purpose: any lawful act. address: 257 Central Park West, #8F, ness address: 790 Eighth Avenue, NY, County. SSNY designated as agent NY, NY 10024. Purpose: any lawful act. Notice of Formation of Consulate NY 10019. Purpose: any lawful act. of LLC upon whom process against Notice of Formation of Manhattan Hotel Holdings I, LLC, Art. of Org. it may be served. SSNY shall mail Notice of Formation of Kubany Judlowe, Dental Management Company LLC. filed Sec'y of State (SSNY) 2/20/14. Notice of Qual. of SLG Manager LLC, copy of process to NRAI, 111 Eighth LLC. Name: Kubany Judlowe, LLC. Arts. of Org. filed with Secy. of State Office location: NY County. SSNY Auth. filed Sec'y of State (SSNY) Ave., NY, NY 10011. Purpose: any Articles of Organization filed with the of NY (SSNY) on 7/2/14. Office loca- designated as agent of LLC upon 5/5/14. Office loc.: NY County. LLC lawful activities. Secretary of State of New York on tion: NY County. SSNY designated whom process against it may be org. in DE 4/29/14. SSNY desig. as May 21, 2014. NY Office Location: as agent of LLC upon whom Notice of Formation of Trilogy Advisors served. SSNY shall mail copy of agent of LLC upon whom process New York County. SSNY has been process against it may be served. LLC. Arts. of Org. filed with Secy. of process to c/o Hampshire Hotels against it may be served. SSNY shall designated as agent of LLC upon SSNY shall mail process to: 286 State of NY (SSNY) on 6/23/14. Mgmt., 200 W. 55th St., Ste. 42, NY, NY mail copy of proc. to NRAI, 111 whom process may be served and Madison Ave., Ste. 1000, NY, NY Office location: NY County. SSNY 10019. Purpose: any lawful activities. Eighth Ave., NY, NY 10011, the Reg. shall mail copy of process against Agt. upon whom proc. may be served. 10017. Purpose: any lawful activity. designated as agent of LLC upon LLC to principal business address: Notice of Qual. of Valarc Fund, LP, DE off. addr.: 160 Greentree Dr., Ste. whom process against it may be Kubany Judlowe, LLC, 1123 Auth. filed Sec'y of State (SSNY) 101, Dover, DE 19904. Cert. of Form. Metal Dog Consulting NY, LLC. Arts. served. SSNY shall mail process to: Broadway, Suite 1011, New York, New 8/29/13. Office loc.: NY County. LP on file: SSDE, Townsend Bldg., Dover, of Org. filed with Secy. of State of NY Laurence A. Levy, 1251 Avenue of the York 10010. Purpose: any lawful act. org. in DE 8/15/13. SSNY desig. as DE 19901. Purp.: any lawful activities (SSNY) on 06/02/14. Off. loc.: NY Co. Americas, 49th Fl., NY, NY 10020. agent of LP upon whom process SSNY des. as agent of LLC upon Purpose: any lawful act or activity. THE SCHLEMMER FIRM, LLC, a Notice of Formation of RiaBulga, LLC, against it may be served. SSNY shall whom process may be served. SSNY domestic LLC, filed with the SSNY Art. of Org. filed Sec'y of State (SSNY) Notice of Formation of alayna nicole, mail copy of proc. to Att: Hari shall mail process to 330 E 63rd St., on 4/18/14. Office location: New York 4/14/14. Office location: NY County. LLC. Arts. of Org. filed with NY Dept. Ramanan, 900 Third Ave., Ste. 202, #4M, New York, NY 10065. Purpose: County. SSNY is designated as agent SSNY designated as agent of LLC of State on 6/24/14. Office location: NY, NY 10022. DE off. addr.: CSC, General. upon whom process against the LLC upon whom process against it may be NY County. Sec. of State designated 2711 Centerville Rd., Wilmington, DE may be served. SSNY shall mail served. SSNY shall mail copy of agent of LLC upon whom process 19808. Cert. of LP on file: SSDE, Notice of Formation of OPENING 1, process to Paul N. Schlemmer, 111 process to 3 Sheridan Sq., 9J, NY, NY against it may be served and shall Townsend Bldg., Dover, DE 19901. LLC. Arts. of Org. filed with Secy. of Broadway, Ste. 1305, NY, NY 10006. 10014. Purpose: any lawful activities. mail process to the principal business Name/addr. of each gen. ptr. avail. at State of NY (SSNY) on 05/16/14. General Purposes. Office location: NY County. SSNY address of the LLC: 150 W 74th St., SSNY. Purp.: any lawful activities. Notice of Formation of Sagamore Apt 2E, NY, NY 10023-2312, Attn: designated as agent of LLC upon Notice of Formation of Brooklyn Crescent, LLC, Art. of Org. filed Sec'y whom process against it may be Alayna N. Anderson. Purpose: all Notice of Formation of NEBULOUS of State (SSNY) 6/2/14. Office loca- lawful purposes. Capital Square LLC. Arts. of Org. WHITE LLC. Arts. of Org. filed with served. SSNY shall mail process to filed with Secy. of State of NY (SSNY) tion: NY County. SSNY designated c/o Schiff Hardin LLP, Attn: Robert S. SSNY on 5/8/14. Office location: as agent of LLC upon whom process 138-34 Equities LLC Arts of Org filed on 10/21/13. Office location: NY New York County. SSNY designated Appel, 666 Fifth Ave., 17th Fl., NY, NY with NY Sec of State (SSNY) on County. SSNY designated as agent of against it may be served. SSNY shall 10103. Purpose: Any lawful activity. as agent upon whom process mail copy of process to Philip Brody, 4/28/14. Office: New York County. LLC upon whom process against it may against it may be served. SSNY shall SSNY designated as agent of LLC be served. SSNY shall mail process 5 Fifth Ave., 15th Fl., NY, NY 10003. Notice of Qualification of ARHC mail process to: c/o THE LLC, 19 Purpose: any lawful activities. upon whom process may be served. to: 202 Centre St., 6th Fl., NY, NY Jones St. #5, NY, NY 10014. NCWTNNY01, LLC. Authority filed SSNY shall mail process to: 28 10013. Purpose: any lawful activity. Purpose: all lawful activities. LAAH ACQUISITIONS LLC, Arts. of with Secy. of State of NY (SSNY) on Graham St, Alpine, NJ 07620. Org. filed with the SSNY on 07/10/2014. 06/23/14. Office location: NY County. General Purposes. NOTICE OF FORMATION OF LIMITED Notice of Formation of Bury LLC. Arts. Office loc: NY County. SSNY has LLC formed in Delaware (DE) on LIABILITY COMPANY. NAME: STAM of Org. filed with Secy. of State of NY been designated as agent upon 06/17/14. SSNY designated as agent Sason Builders LLC. Arts. of Org. filed LLC. Articles of Organization were (SSNY) on 05/29/14. Office location: whom process against the LLC may of LLC upon whom process against it with Secy. of State of NY (SSNY) on filed with the Secretary of State of NY County. SSNY designated as be served. SSNY shall mail process may be served. SSNY shall mail 06/06/14. Off. loc.: NY Co. SSNY des. New York (SSNY) on 06/03/14. Office agent of LLC upon whom process to: 66 Pearl St., NY, NY 10004. process to c/o CSC, 80 State St., as agent of LLC upon whom process location: New York County. SSNY against it may be served. SSNY shall Purpose: Any Lawful Purpose. Albany, NY 12207. DE addr. of LLC: may be served. SSNY shall mail has been designated as agent of the mail process to: 515 East 5th St., Apt. 2711 Centerville Rd., Ste. 400, process to c/o Magna Group, Attn: LLC upon whom process against it 6D, NY, NY 10009. Purpose: any Notice of Registration of Siri & Wilmington, DE 19808. Arts. of Org. Joshua Sason, 5 Hanover Sq., New may be served. SSNY shall mail a lawful activities. Glimstad LLP, Cert. of Reg. filed Sec'y filed with DE Secy. of State, Div. of York, NY 10004. Purpose: General. copy of process to the LLC, c/o Dov of State (SSNY) 5/1/14. Office loca- Corps., 401 Federal St., Ste. 4, Dover, Tabak, 375 Park Avenue, Suite 1604, Notice of Qualification of Fitness tion: NY County. SSNY designated DE 19901. Purpose: Any lawful activity. Notice of Qualification of WB58E66 New York, New York 10152. Purpose: Video Ventures, LLC. Authority filed as agent of LLP upon whom process LLC. Authority filed with Secy. of For any lawful purpose. with NY Dept. of State on 6/11/14. against it may be served. SSNY shall Notice of Qualification of NJS.COM, State of NY (SSNY) on 06/02/14. Office location: NY County. Princ. bus. mail copy of process to 120 E. 31st LLC. Authority filed with Secy. of Office location: NY County. LLC Notice of Qualification of Washington addr.: 100 Universal City Plz., St., NY, NY 10016. Name/addr. of each State of NY (SSNY) on 05/27/14. formed in Delaware (DE) on 05/28/14. Square Technologies LLC. Authority Universal City, CA 91608. LLC formed gen. ptr. avail. at SSNY. Purpose: to Office location: NY County. LLC Princ. office of LLC: 10 Glenville St., filed with NY Dept. of State on 3/27/14. in DE on 6/4/14. NY Sec. of State practice the profession of Law. formed in Delaware (DE) on 03/16/12. 3rd Fl., Greenwich, CT 06831. SSNY Office location: NY County. LLC designated agent of LLC upon whom SSNY designated as agent of LLC designated as agent of LLC upon formed in DE on 3/4/14. NY Sec. of process against it may be served Notice of Formation of Pyramid upon whom process against it may whom process against it may be State designated agent of LLC upon and shall mail process to: c/o CT Investors JV LLC, Art. of Org. filed be served. SSNY shall mail process served. SSNY shall mail process to whom process against it may be Corporation System, 111 8th Ave., NY, Sec'y of State (SSNY) 10/18/13. to c/o Corporation Service Co., 80 c/o Corporation Service Co., 80 served and shall mail process to: c/o NY 10011, regd. agent upon whom Office location: NY County. SSNY State St., Albany, NY 12207-2543. State St., Albany, NY 12207-2543. CT Corporation System, 111 8th Ave., process may be served. DE addr. of designated as agent of LLC upon DE addr. of LLC: 2711 Centerville DE addr. of LLC: 2711 Centerville NY, NY 10011. DE addr. of LLC: The LLC: c/o The Corporation Trust Co., whom process against it may be Rd., Ste. 400, Wilmington, DE 19808. Rd., Ste. 400, Wilmington, DE 19808. Corporation Trust Co., 1209 Orange 1209 Orange St., Wilmington, DE served. SSNY shall mail copy of Arts. of Org. filed with Secy. of State Arts. of Org. filed with DE Secy. of St., Wilmington, DE 19801. Cert. of 19801. Cert. of Form. filed with DE Sec. process to Kriss & Feuerstein, 360 of DE, John G. Townsend Bldg., 401 State, John G. Townsend Bldg., 401 Form. filed with DE Sec. of State, of State, 401 Federal St., Dover, DE Lexington Ave., NY, NY 10017. Federal St., Ste. 4, Dover, DE 19901. Federal St., Ste. 4, Dover, DE 19901. 401 Federal St., Dover, DE 19901. 19901. Purpose: all lawful purposes. Purpose: any lawful activities. Purpose: Any lawful activity. Purpose: Any lawful activity. Purpose: all lawful purposes.

20 | Crain’s New York Business | August 4, 2014 20140804-NEWS--0021-NAT-CCI-CN_-- 8/1/2014 12:18 PM Page 1

IN THE BOROUGHS BROOKLYN

but Morris Park Community Asso- FROM ciation President Tony Signorile L train spurs change AROUND said his organization is willing to help push for a plaque. Continued from Page 4 fray in July. THE CITY —mark fahey York. No wonder that along Bedford In many ways, Roberta’s success Avenue asking rents for retail space BRONX BROOKLYN has flowed from the exits of the L have more than doubled during the train’s Morgan Avenue stop, five past five years, according to a report Move over, New greenspace stations down the line from from CPEX Real Estate. Three Kitty Hawk Williamsburg, and just one block stops farther east—at Grand Street, goes missing from the pizzeria’s front door. after the train turns south and runs Most people think about Kitty Residents of Sunset Park are furious In 2012 and 2013, the line took along Bushwick Avenue—that in- Hawk and the Wright Brothers over their missing greenspace. Ten the honors for having the fastest- crease is only now taking hold. when the subject of aviation’s early months after the long-promised growing ridership numbers in the In anticipation,however,a grow- days comes up.But Louis DiGiorno Bush Terminal Piers Park along the city, as more and more hipsters, ing number of building owners are thinks they really ought to think waterfront was supposed to open, techies and young professionals holding their properties off the about the Bronx as well. there has been no ribbon cutting, used the L to venture ever deeper market. Along a three-block stretch The school historian at Fordham much less fishing or ballplaying. buck ennis into Brooklyn in search of every- of Grand Street,for example,at least PIE IN THE SKY: Roberta’s success flows in Prep has spent months piecing to- The park, stretching from 43rd thing from an edgy night out to an 10 shopfronts stand empty, “For part from proximity to the Morgan Ave. stop. gether the story of the Morris Park to 51st streets, will include two affordable place to live. Rent” signs festooning their Aerodrome, an eastern Bronx exhi- multiuse baseball and soccer fields, windows. bition site for flying machines es- a grove of trees and a fishing pier.Je- Secret sauce of success “[Landlords] see the change that in a new wave of activity so strong tablished by the New York Aero- remy Laufer, district manager of The L train “is an example of is going on, and they think they will that it has sent ripples of prosperity nautical Society in 1908. He wants Community Board 7, which in- how the city is able to regenerate it- be getting more money within the spilling over a few blocks into to make sure it gets the recognition cludes the area, noted that in a self, reinvent itself, attract young next 12 to 18 months,” said Eric Queens. it deserves. neighborhood with “less than a people, retain families and continue Sidman of Town Residential.And if “There is no question that even “It kind of slipped from the com- third of the city’s standard green- to be a hotbed of entrepreneurial ac- history is any indication, that too Ridgewood [Queens] has changed munal memory,” said Mr. Di- space per capita,” the park is much tivity and creativity—all of which will come to pass, as trendy bars, as a result of what is happening in Giorno. “This is something that needed. He pointed out that the are the secret sauce of urban suc- boutiques and maybe even a chain Bushwick,” said Joshua Zegen, co- people in Morris Park should be majority of the community’s green- cess,” said Seth Pinsky,an RXR Re- store or two will move in. founder of Madison Realty Capital, aware of. Where their houses stand space lies behind the ornate iron alty executive who headed the city’s Two more stops deeper into who has invested in several proper- was the site of a milestone in aero- fence at Green-Wood Cemetery, Economic Development Corp.dur- Brooklyn, after the train again turns ties along the line in the past few nautical history.” which is lovely and historic, but un- ing the Bloomberg administration. east, the L brings riders to Roberta’s years. Mr. DiGiorno spoke recently to suitable for recreational use. Some stations along the L saw doorstep, the Morgan Avenue sta- By most accounts, any percepti- Community Board 11 and the Mor- The good news is that the city ridership leap by nearly 50% be- tion, which saw the largest percent- ble signs of the L-train lift peter out ris Park Community Association now expects construction to be com- tween 2008 and 2013.Among them age increase in ridership in the city 10 stations deep into Brooklyn, at about commemorating the neigh- pleted by the end of August. The was the line’s first port of call in between 2008 and 2013. It hap- Halsey Street in southeast Bush- borhood’s place in the history of problem is that Albany will then Brooklyn: Bedford Avenue. There, pened as industry packed up, and wick. There, ironically, people dis- flight with an event,a plaque or per- need to certify that the former nearly a decade after the erstwhile shops and eateries—and their pa- placed by rising rents up the line are haps lamppost banners. In its two- brownfield site is safe, a process that industrial wasteland along the East trons—packed in. now resettling—putting upward year run, the aerodrome, at an old could take weeks. Still, hope springs River was rezoned to permit resi- “It used to be a bit of a ghost pressure on rents in yet another racetrack, drew thousands of spec- eternal. “We look forward to wel- dential and commercial uses, the town,”said Roberta’s Mr.Parachini. neighborhood. Beyond lies one of tators eager to see everything from coming the Sunset Park communi- area has been transformed. the city’s poorest neighborhoods, gliders and airplanes to dirigibles ty to this great public space,” said a Within a one-block radius of the Life on Mars, etc. East New York. and helicopters get put to the test. spokesman for the city’s Economic Bedford Avenue stop, visitors can Today, the former industrial There, the last phase of develop- “The prize for the best-designed Development Corp. take in sights once unthinkable. spaces, such as the building across ment along the L train looks to be a airplane went to one that couldn’t fly, —gianna lakenauth They range from new develop- the street from Roberta’s, have huge city-spawned redevelopment but it looked great,” said bor- ments, including a 94-unit residen- morphed into artists’ lofts and gal- that will include hundreds of afford- ough historian Lloyd Ultan. tial conversion of St. Vincent de leries, including Life on Mars and able apartments. A massive fire swept through ON THE WATERFRONT: Park Paul church and school, and a real Mellow Pages. Nearby, at a pair of The administration wants to re- the old stables and destroyed the preparations as of one year ago. estate office advertising condos at a former light-manufacturing build- zone large swaths of East New York aerodrome in 1910. A few years waterfront tower called the Edge, ings rechristened as McKibbin not only to develop opportunities later, the site was divided into where a one-bedroom sells for north Lofts, a one-bedroom apartment is for those priced out of portions of a parcels and sold to developers of $1 million.The Meatball Shop, a renting for about $2,000 a month. constantly evolving borough, but eager to build housing. hip chain born in lower Manhattan, One stop farther down the line, also to create the kinds of jobs and Several members of Com- has opened a Brooklyn outpost in at Jefferson Street in Bushwick, hip opportunities that may, one day, munity Board 11 declined to the neighborhood. And sealing the bars like Heavy Woods and Bush- make the east end of the L train comment on what shape a Ⅲ area’s fate, a Starbucks joined the wick Beer Garden have blossomed route as prosperous as the rest. commemoration might take, buck ennis

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August 4, 2014 | Crain’s New York Business | 21 20140804-NEWS--0022-NAT-CCI-CN_-- 7/31/2014 7:28 PM Page 1

REAL ESTATE

B’klyn Brewery PERSON OF INTEREST eyes S.I. for plant CESTERO LEADS CPC’S COMEBACK Brooklyn Brewery is hoping to build a $70 million, 200,000-square-foot ON JULY 30, RAFAEL CESTERO, chief executive facility on the western shore of Stat- of the nonprofit Community Preservation en Island. The new manufacturing Corp., stood beside Mayor Bill de Blasio as center would allow the brewer to he announced that CPC would get a produce more suds for sale in over- whopping $350 million in public and private seas markets, according to a draft capital. The funds will finance new and progress report tracking various restored affordable apartments in the city large-scale projects penned by the and state, but the shocker was the recipient. New York City Regional Economic About two years ago, CPC had been on Development Council, an advisory the brink of financial collapse, a victim of board that is working with the brew- bad bets on residential condos and an ill- er to locate a suitable site. fated project to redevelop the Domino Sugar “With the support of state and site in Williamsburg, Brooklyn. city development agencies, this po- A rising New York economy helped tential project demonstrates that restore CPC, but so, too, did the 2011 arrival larry racciopo New York can be a hospitable place of Mr. Cestero, a former commissioner of the for successful manufacturers and ex- city’s Department of Housing Preservation and Development. porters,” said Eric Ottaway, the “We have been able to work out our distressed portfolio and repair brewery’s general manager. our balance sheet Google’s space The draft report shows the brew- ,” he said. Under Mr. Cestero, CPC has also stayed away ery is seeking a campus with be- from the condo market, in favor of redirecting its attention and capital to its tween 20 and 25 acres with direct core mission of making loans to small and midsize affordable-housing rail access and in relatively close developments. “The announcement was a big day for CPC—it allowed us to search leads home publicly put the past behind us and look to the future,” he said. proximity to the New York/New Jersey port system—stipulations Mr. Cestero has spent most of his career in the city’s affordable-housing oogle will finally get to take full advantage of the $2 billion that would make Staten Island an world. From 1990 to 2009, he put in stints at housing nonprofit Enterprise piece of Manhattan real estate it bought as its New York head- ideal location.A range of areas in the Community Partners and at HPD, before being appointed to head the latter in quarters almost four years ago. mid-Hudson Valley region are also 2009. By the first quarter, the Internet search giant will be able to under consideration. Ironically, while a series of his predecessors in that post had been able to move into as much as 500,000 additional square feet at its 18- The proposed facility would be in tap CPC to fund affordable projects, Mr. Cestero was not able to do so in his Gstory, 2.9 million-square-foot property at 111 Eighth Ave, according to addition to the Brooklyn Brewery’s tenure because of CPC’s financial fall. That experience made his move to help sources.Google already occupies hundreds of thousands of square feet there, 27-year-old operation in Williams- rescue the troubled nonprofit only natural, if not imperative. but the $400 billion-market-cap company has been forced to snap up office burg. Final site selection is expected “For me,” said the 46-year-old, Cornell-educated CPC boss, “this was an space elsewhere because much of its building is leased to other tenants. by the end of the year, with the plant incredible opportunity to continue my life’s work, and help an institution Now, however, firms including Nike, Barnes & Noble and ad firm projected to be fully operational by that has such a rich history in New York City.” Deutsch Inc.,either have leases that are expiring or are being paid by Google the end of 2017.The company hopes —JOE ANUTA to exit and not to exercise their rights to renew. In recent years, Google has to export up to 60% of its produc- expanded at neighboring Chelsea Market and 85 10th Ave. because of the tion by 2022, up from 28% last year. lack of available space in its headquarters building. —daniel geiger —joe anuta NJ profits plowed dled the New Jersey office tower. into B’way dorm —daniel geiger

One of the city’s biggest landlords Broker links up to has done what several others have in property manager recent months: buy into the rising Business Breakfast Forum: market in lower Manhattan. The Fast-growing residential brokerage LeFrak Organization, owner of a Urban Compass is teaming up with a huge commercial office and resi- building management company to dential portfolio, has acquired 180 streamline sales and leasing at more Broadway, a 24-story property with a than 80 condo, co-op and rental William J. Bratton large ground-floor retail space properties with 10,000 apartments. across the street from the new Ful- The deal with Century Manage- Police Commissioner, City of New York ton Center, paying $223 million. ment is the first such collaboration The company is transferring for Urban Compass, a tech-focused money it reaped in July from the sale startup brokerage that burst onto of 575 Washington Blvd., a 22-story the scene last year. It comes on the office building it developed in New- heels of a recent $40 million cash in- Photo Credit: Buck Ennis port, N.J. The LeFrak Organization fusion from investors and a lease for sold that property to the building’s a new office in addition to its Union largest tenant, JPMorgan Chase & Square headquarters. The Police Commissioner will discuss: Wednesday, September 10, 2014 Co., and is now utilizing those Under the new arrangement, The Roosevelt Hotel proceeds in a swap known as a 1031 Century will refer unit owners exclu- •How ﬁghting crime has changed 45 East 45th Street, New York, NY exchange, which allows it to forgo sively to Urban Compass. In turn, capital-gains taxes and funnel the the brokerage will learn the ins and under a progressive mayor 8:00 a.m. - 8:30 a.m. Networking Breakfast money in full into 180 Broadway. outs of Century’s buildings so its 8:30 a.m. - 9:30 a.m. Program The big landlord is buying 180 agents can hit the ground running •Whether the NYC media covers $125 for individual ticket(s). Broadway from a partnership be- once a unit comes onto the market. police issues fairly $1,250 for table(s) of ten. tween SL Green Realty Co. and Jeff “Century would like to increase Sutton, who redeveloped the prop- their grade of services to offer a more •Why crime plunged but poverty didn’t erty beginning in 2011.They subse- efficient process for sellers,” said quently arranged a deal to have Pace Gordon Golub,chief residential real •The past and future of urban policing You must be pre-registered to attend this University take the upper floors as estate officer at Urban Compass. event. No refunds permitted. dormitory space. With the help of “And because we have access to all Mr. Sutton, who specializes in retail this information and will have sys- For more information, contact Adrienne Yee at 212-210-0739 or email real estate, SL Green also arranged tems in place, we can operate much crainsnewyork.com/events-brattonforum [email protected]. leases to fill the ground-floor store more efficiently.” space, signing on Urban Outfitters The management company’s For sponsorship information, contact and TD Bank. portfolio includes the Toll Brothers’ Sponsored by: Joanna Harp at (212) 210-0278 or [email protected]. Doug Harmon and Adam Spies, condo at 205 Water St.in Brooklyn’s brokers at Eastdil Secured, sold 180 Dumbo, and the upcoming 400 Broadway on behalf of SL Green Park Ave. South. and Mr. Sutton.That firm also han- —joe anuta

22 | Crain’s New York Business | August 4, 2014 20140804-NEWS--0023-NAT-CCI-CN_-- 7/31/2014 6:57 PM Page 1

SMALL BUSINESS

STOP ’N’ CUE: Blatt Biilliards partner Steve Historic Blatt Billiards Roeder says a new location is good changes game, racks points for foot traffic. Builder of custom partner in Blatt Billiards, who de- first-ever darts demo, and it plans to clined to share the firm’s annual offer billiards demos as well so cus- pool tables makes revenue. tomers can learn from experts. “The Sources say Blatt is the big boy in economy has taken a toll on our in- new moves to lure an industry made up of tiny players. dustry,and nobody needs a pool table high-end clientele “It’s all just small, private compa- during bad times,” said Mr. Roeder. nies, but there is nobody that would compare to Blatt in New York City,” More ways to play BY LISA FERBER said Rob Johnson, chief executive of Blatt started as a repair business the Billiard Congress of America. in 1923, then added bowling sup- latt Billiards doesn’t And the company has mastered a plies in the 1930s; antique restora- play games when it tough market.“New York City gen- tion in the 1940s; and custom-made comes to maintaining erally has less interest in the sport tables, Brunswick premade tables its 91-year-old busi- than other areas of the country,since and more bowling supplies in the ness. most [residents] are apartment 1960s. The 1990s brought darts, BTo shore up its staying power in dwellers and playing cards and home game-room an industry that has shrunk in re- 18,497 don’t have the products such as air hockey,Foosball cent years, the manufacturer of cus- EMPLOYMENT space,” said and shuffleboard tables.A high-end tom billiard tables—priced from in U.S. pool and Mike Shamos, clientele that, according to the $20,000 to $150,000—moved to a billiards industry curator of the company, has included Arnold more customer-friendly, first-floor Source: IBISWorld 2014 Billiard Schwarzenegger, Dustin Hoffman showroom at 338 W. 38th St. from Archive, a and Michael Bloomberg has insu-

its former home at 809 Broadway Pennsylvania foundation set up to lated it somewhat against the econ- buck ennis earlier this year. It also transferred preserve the game’s history. omy’s ups and downs. the New York City portion of its Revenue in the U.S.pool and bil- The company stands out for money in the city,” said James Even in the era of digital games, manufacturing to a space it already liards industry has steadily declined making its products in the United Grimaldi, sales and service manager Mr. Johnson believes that billiards occupied in Wood-Ridge, N.J. By to just $750 million in 2014. “The States.“There are a lot of table man- at the 10-employee firm. Century, has a future. “We don’t see the in- also increasing the diversity of the industry was certainly thriving in ufacturers who get most of the table like Blatt, makes and manufacturers dustry roaring back to peak levels, home-gaming products it sells and the late ’90s and early 2000s,” said overseas, and they call themselves its own tables in the U.S. and sells but we do see a slow, steady adding in-store demonstrations, Mike Panozzo,publisher of Billiards American but basically just finish products by other manufacturers. growth,” he said. “People have re- Blatt Billiards continues to grow. Digest. “In the mid- to late ’90s, the the table here,” said Mr. Panozzo. Mr.Grimaldi,who declined to share tooled their business to survive this billiards market in the U.S. turned Century Billiards & Gameroom, the firm’s revenue, said his company economy.” Ⅲ Size advantage out well over 100,000 tables per located in East Northport, L.I., is has seen an increase in sales of “Our block on 38th Street gets a year. This past year I would guess another company that takes pride in custom-made poker tables, which To sign up for Crain’s tremendous amount of foot traffic, that the industry didn’t sell 50,000.” its longevity.It was founded in 1896, start at $2,000. That’s cheaper than SMALL BUSINESS newsletter, go to and people are constantly stopping At the new location,Blatt tried to and also markets to a high-end clien- its larger and costlier pool tables, www.crainsnewyork.com/smallbiz. to peek in,” said Steve Roeder, a spark customers’ interest with its tele.“There’s still a lot of young, new which start at $10,000. COMING TO NYC THIS FALl!

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August 4, 2014 | Crain’s New York Business | 23 20140804-NEWS--0024-NAT-CCI-CN_-- 7/31/2014 6:57 PM Page 1

FOR THE RECORD

● Department of Transportation 233 W. 135th St. in Harlem. The per share, in a transaction worth Seeks competitive sealed bids by 11 a.m. Chicago-based firm will occupy the $23,892,888. He now directly holds ABOUT THIS SECTION on Aug. 19 to install, remove and repair ground floor of the five-story building. 1,857,210 shares. FOR THE RECORD is a weekly listing of information from the public record that streetlights in parks damaged by Both the tenant and the landlord, ● can help businesspeople in the New York area find opportunities, potential Superstorm Sandy citywide. Bid Greater Harlem Housing Development Alcoa Inc. (AA) documents are available for a $50 Corp., were represented by Joseph Klaus Kleinfeld, chairman and chief new clients and updates on competitors. deposit, payable by certified check or Aquino, Faith Hope Consolo and executive, sold 800,000 shares of To ask questions or get more information on this section, contact Crain’s money order to the New York City Arthur Maglio of Douglas Elliman. common stock at $16.08 per share on research department at [email protected]. Department of Transportation. For The asking rent was $32 per square July 15, in a transaction worth additional information, contact Sharif foot. $12,866,160. He now directly holds Choudry at (212) 839-4370 or contact 1,414,250 shares. the bid window at (212) 839-9435. RETAIL NEW IN TOWN Bank of New York Mellon, owed ● Buy It Here Now signed a five-year ● MSC Industrial Direct Co. (MSM) $145,312.68; and the New York City GOODS AND SERVICES lease for 2,000 square feet at 4916 Ave. K Mitchell L. Jacobson, nonexecutive Companies that would like to have details Department of Finance, owed ● Department of Education in Flatlands, Brooklyn. The apparel, chairman of the board, sold 30,000 of openings published should submit $81,824.08. Seeks competitive sealed bids by 4 p.m. footwear and electronics store is shares of common stock at $89.58 per descriptions following this format to on Aug. 20 for removal of asbestos- expanding from the 500 square feet it share on July 15, in a transaction worth [email protected], with ● D.A.B. Group containing material, plus replacement occupied previously. Both the tenant and $2,687,400. He now directly holds “New in Town” in the subject line. 85 W. Hawthorne Ave., with non-ACM insulation on pipes, landlord, 4916-4924 Ave K Realty, were 196,809 shares. Valley Stream, L.I. fittings and boilers, duct-work represented by Jeffrey Unger of Kalmon ● City Wings Café Filed for Chapter 11 bankruptcy insulation and other related work in Dolgin Affiliates. The asking rent was ● Nasdaq OMX Group Inc. (NDAQ) 347 First Ave., Manhattan protection on July 14. The filing cites schools and other Department of $18 per square foot. Anna Maria Ewing, executive vice The chicken-wing restaurant opened in estimated assets of $10,000,001 to $50 Education facilities. To acquire bid president, global technology solutions, Stuyvesant Town. It offers seven sauces million and estimated liabilities of documents, send an e-mail to ● FIKA signed a 10-year lease for 1,300 exercised options on 39,661 shares of for its boneless and bone-in wings, $10,000,001 to $50 million. The [email protected]. Email square feet at 555 Sixth Ave. in Chelsea. common stock at $25.28 per share on including Buffalo, Jamaican jerk or creditors with the largest unsecured questions to [email protected] The Swedish-inspired coffee chain’s July 14, in a transaction worth Bangkok Thai curry. claims are Favata & Wallace, owed .gov.To make further inquiries, contact newest store will be its 12th in New $1,002,630. On the same day, she sold $125,000; and Berotti Robins & the Vendor Hotline at (718) 935-2300. York City.The tenant was represented 58,893 shares at prices ranging from ● Pasar Malam Guskin, owed $15,000. by Andrew Hawkins of Transwestern. $40.00 to $40.28 per share, in a 208 Grand St., Brooklyn ● Housing Authority The landlord, Stonehenge Partners, was transaction worth $2,366,825. She now The Malaysian restaurant opened in ● Geraghty Suarez Seeks competitive sealed bids by 10 a.m. represented by Andrew Mandell, Jason directly holds 91,242 shares. Williamsburg. The menu includes a 750 Third Ave., Manhattan on Aug. 14 for the installation of painted Maurer and Richard Skulnick of Ripco rambly burger and a salad with jicama, Filed for Chapter 11 bankruptcy pavement striping, letters, numbers and Real Estate. The asking rent was $275 ● Starwood Hotels & Resorts Worldwide mango, cucumber, pineapple and protection on July 8.The filing cites symbols for parking areas at various per square foot. Inc. (HOT) shrimp-paste dressing. estimated assets of $100,001 to $500,000 developments in the five boroughs. Bid Bruce W. Duncan, chairman, exercised and estimated liabilities of $100,001 to documents are available at www.nyc options on 19,225 shares of common ● Pasta Shop $500,000.The creditor with the largest .gov/nychabusiness. Nonelectronic STOCK TRANSACTIONS stock at $67.84 per share on July 10, in a 234 Starr St., Brooklyn unsecured claim is Windsor-Mount Joy documents are subject to a nonrefund- transaction worth $1,304,128. On the The Italian pasta restaurant opened in Mutual Insurance Co., owed $11,778.79. able $25 fee, payable by cash, check or Following are recent insider transactions at same day, he sold 21,813 shares at prices Bushwick.The menu includes eight money order to NYCHA Finance New York’s largest publicly held companies ranging from $84.33 to $84.57 per pastas, including rigatoni alla carbonara, ● RedWage Department at 90 Church St., sixth filed with the Securities and Exchange share, in a transaction worth cacio e pepe and rigatoni alla amatriciana. 68 Jay St., Brooklyn floor, Manhattan. To make inquiries, Commission by executives and major $1,840,111. He now directly holds Filed for Chapter 7 bankruptcy contact Erneste Pierre-Louis at shareholders. Listings are in order of 109,050 shares. protection on July 10.The filing cites (212) 306-3609 or erneste transaction value.The information was COMPANY MOVES estimated assets of $100,001 to $500,000 [email protected]. obtained from Thomson Reuters. ● John Wiley & Sons Inc. (JW’A) and estimated liabilities of $500,001 to Steven J. Miron, senior vice president, Companies that would like to have details $1 million.The creditors with the largest ● CBS Corp. (CBS) global research, exercised options on of recent moves published should submit unsecured claims are TGP Associates, REAL ESTATE DEALS Leslie Moonves, president and chief 28,500 shares of common stock at prices descriptions following this format to owed $326,007.88; Sunburst executive, exercised options on 375,000 ranging from $35.04 to $48.46 per share [email protected], with Innovations Inc., owed $107,059.64; and Companies that would like to have details shares of common stock at $28.70 per on July 9, in a transaction worth “Company Moves” in the subject line. MetroZen Inc., owed $26,750. of their recent transactions appear in these share between July 7 and July 8, in a $1,177,484. On the same day, he sold listings should email descriptions following transaction worth $10,762,500. In the 24,139 shares at $61.60 per share, in a ● H&M this format to MSingleton@crainsnewyork same period, he sold 375,000 shares at transaction worth $1,486,962. He now 589 Fifth Ave., Manhattan GOVERNMENT CONTRACT .com, with “Real estate transaction” in the prices ranging from $63.22 to $64.83 directly holds 13,946 shares. Ⅲ The clothing retailer opened its 12th OPPORTUNITIES subject line, or enter them online at Manhattan store, in midtown. The new crainsnewyork.com/submitadeal. Deals are location features the chain’s line of home Following are selected contract listed in order of square footage. goods, in addition to apparel. opportunities recently announced by New DEALS ROUNDUP York City agencies.To learn how to sell COMMERCIAL ● The Meatball Shop goods and services to city government, visit ● Affinity Health Plan signed a lease for 447 Amsterdam Ave., Manhattan www.nyc.gov/selltonyc. For a searchable 95,000 square feet at the Metro Center TRANSACTION SIZE The meatball maker opened its sixth database of current procurement notices, Atrium in the Bronx. The managed-care TARGET/SELLERS (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE restaurant, on the Upper West Side. Its visit www.nyc.gov/cityrecord. Listings are organization will relocate its International Game $6,711.3 GTECH S.p.A. SB M&A menu features five meatball varieties: alphabetical by category and department. headquarters from 2500 Halsey St. to Technology/BlackRock beef, spicy pork, chicken, veggie or a the mixed-use complex in Pelham Bay. Inc. (Manhattan), Gates daily special. CONSTRUCTION SERVICES The tenant was represented by Cresa Capital Management Inc. (Manhattan) ● Department of Parks and Recreation New York. The landlord, Simone ● Potatopia Seeks competitive sealed bids by 10:30 Development Cos., was represented in- URS Corp./BlackRock $6,149.1 AECOM Technology Corp. SB M&A 2655 Richmond Ave., Staten Island a.m. on Aug. 12 for in-kind house by Joseph Deglomini Jr., James Inc. (Manhattan), SouthernSun Asset The all-potato concept restaurant reconstruction of deteriorated plumbing MacDonald and Joseph Simone. The Management, Glenview opened its third location, in the Staten systems for various pool facilities. Bid asking rent and the term of the lease Capital Management Island Mall. Its new outpost serves the documents are available for a $25 fee, were not disclosed. (Manhattan), JANA Partners same mix of 10 potato styles, plus payable by company check or money (Manhattan), Fidelity protein, vegetable and sauce toppings, as order to the City of New York, Parks ● Samsung Electronics North America Management & Research its existing locations in the West Village and Recreation. Documents can be signed a 20-year lease for the entire Co. and at Menlo Park Mall in Edison, N.J. picked up at the Olmsted Center, Room 55,000-square-foot building at 837 Kodiak Oil & Gas Corp./ $6,053.4 Whiting Petroleum Corp. SB M&A 64, Flushing Meadows Corona Park, Washington St. in the West Village. The Paulson & Co. Queens. To make inquiries, contact electronics company will use the six- (Manhattan) BANKRUPTCIES Michael Shipman at (718) 760-6705 or story glass building to house its brand- Freeport LNG Development/ $850.0 Global Infrastructure Partners FB M&A [email protected]. marketing team and the two bottom Hastings Funds (Manhattan) (25%) The following listings are selected from the floors to showcase its mobile business Management (USA) Inc., ● Department of Parks and Recreation Zachry American most recent available filings by companies products. The tenant was represented Infrastructure seeking bankruptcy protection in the Seeks competitive sealed bids by 10:30 by James Ackerson, David Liggitt, Southern and Eastern Districts of New a.m. on Aug. 19 for demolition of the Patrick O’Keefe and Craig Reicher of Lombard International $608.9 Blackstone Group (Manhattan) FB M&A Assurance SA and York. Information was obtained from U.S. hockey rink, construction of an addition CBRE. The landlords, Taconic Insurance Development Bankruptcy Court records available on to the playground, and reconstruction of Investment Partners and Thor Holdings AG/Friends Public Access to Court Electronic Records. the court area and ballfields in Equities, were represented by David Life Group Ltd. Listings are in alphabetical order. Gravesend Park, Brooklyn. Bid Falk, Jason Greenstein and Daniel Bank of Scotland plc, $602.1 Cerberus Capital Management FB M&A documents are available for a $25 fee, Levine of Newmark Grubb Knight portfolio of loans secured (Manhattan) ● 16 East 116th Street Corp. payable by company check or money Frank. The asking rent was $500 per by U.K. Commercial Real 3221 Third Ave., Bronx order to the City of New York, Parks square foot for the ground floor, $120 Estate/Bank of Scotland plc Filed for Chapter 11 bankruptcy and Recreation. Documents can be per square foot for the floors above, and Selected deals announced for the week ended July 17 involving companies in metro New York. protection on July 14. The filing cites picked up at the Olmsted Center, Room $100 per square foot for the below- SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing shares estimated assets of $1,000,001 to $10 64, Flushing Meadows Corona Park, grade space. of a company without the participation of a financial buyer. FB M&A: Financial buyer M&A million and estimated liabilities of Queens. To make inquiries, contact represents a minority or majority acquisition of existing shares of a company with the participa- $1,000,001 to $10 million. The creditors Michael Shipman at (718) 760-6705 or ● Infrastructure Engineering Inc. signed tion of a financial buyer. source: capital iq with the largest unsecured claims are the [email protected]. a three-year lease for 1,300 square feet at

24 | Crain’s New York Business | August 4, 2014 IT’S AN EXCITING TIME TO LIVE IN NEW YORK CITY

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er places for brand advertisers to go,” said Bob Lord, CEO of AOL Rumors of platforms. “The headroom we have of being first to market is giving us our leading edge.” 1,000 AOL’s demise ... That leading edge has been ex- ULTRALUXURY UNITS pensive to build and slow to yield profits,however,and it hasn’t helped EXPECTED to hit the er, employs algorithms and data to that the content sites, in AOL’s market this year, 40% ... are greatly let marketers target demographic brand group, have also struggled to of them with prices over exaggerated. Veteran groups and bid in real time on ads make money. that will reach them. The company reported first- $5 million of dot-com bubble Forecasting firm Magna Global quarter net income of $9.3 million, charts a growth estimated last year that U.S. ad a 64% plunge compared with the spending across the entire program- year-earlier period, owing partly to course for the future matic spectrum will grow to about a restructuring following the sale of $17 billion in 2017, from $7.4 bil- local media division Patch.Revenue lion in 2013, and will account for of $583 million was up 8%. Almost BY MATTHEW FLAMM 83% of the display-related digital ad all of the profit came out of the $138 Prices of raw market that year. million in operating income from Rumors last month of merger talk AOL’s new cross-screen ad sys- the membership group, which in- between AOL and Yahoo high- tem,called One,integrates all of the cludes the dial-up subscriptions. lighted sensitivities both companies company’s services, including video Analysts forecast net income of land leave have about their standing as they ad platform Adap.tv and recently around $26 million when the com- strive to remain relevant in the face acquired Convertro, which tracks pany reports second-quarter results of younger competitors. user behavior across the Web. on Aug. 6. The membership group In California, Yahoo Chief Ex- will still be the profit engine. earthly orbit ecutive Marissa Mayer reportedly Something to prove AOL’s stock was trading in early dismissed the idea—in the words of One is designed to provide agen- August at $39.35, down 14% so far Re/code’s Kara Swisher—as “small, cies, advertisers and publishers this year. Analysts see sights far higher.A development par- unexciting, uninspiring and with a soup-to-nuts ad-tech improving margins Developers make cel west of the High Line between backward-looking.” service as well as an à la carte for the brand and West 17th and West 18th streets has In Manhattan, an AOL execu- menu of offerings that clients heroic assumptions $138MOPERATING INCOME ad-tech divisions hit the market with an asking price of tive had his own response to the ru- can combine with systems from the group that this year and next on how much people $1,200 per square foot. mor: “We’re actually the company they’re using now. includes dial-up but disagree on the will pay for condos That equates to condo apart- that has turned itself around.” Executives said AOL of- subscriptions. That stock, depending ments that will cost well over $2,000 AOL turns 30 next year and is fers the only “full stack” of represents almost all on how much faith per square foot just to build, accord- eager to show that it’s growing less programmatic services other of AOL’s 1Q profit they have in the com- BY DANIEL GEIGER ing to Nir Meir,a principal at real es- dependent on the ever-shrinking than Google, and they expect the pany’s long-term gam- tate development firm HFZ Capi- dial-up subscription business that AOL platforms division to top $1 bles. Since its spinoff from As several developers race to erect tal Group, which is readying its own made it the darling of the first Inter- billion in revenue this year. They Time Warner five years ago, the 1,000-foot-plus residential spires luxury residential project that will be net bubble 15 years ago—and still also see an advantage in the rapid stock has returned 12.7% annually, on modestly sized plots, and the on both sides of the High Line on accounts for nearly all its profits. consolidation taking place across less than the 15.8% generated by the asking prices of individual condos West 19th Street. It also says being headquartered the ad-tech industry. Russell 3000, an index of small stretch nearly to the nine-digit in Silicon Alley gives it connections “The great news is that as the in- stocks that includes AOL. mark, raw land has become the You gotta wonder to editorial and marketing talent dustry reshapes itself, there are few- “I see a company that is still try- hottest commodity in town. “You have to wonder in some that can’t be found in ing to prove that it can create premi- In Manhattan, prices per build- cases whether pricing is getting Silicon Valley. um content profitably,” said Mac- able square foot—the amount of ahead of itself,” said Mr. Meir, who Most important, quarie Capital analyst Tom White, property that can be built on a given noted that he believes Related’s sites AOL will launch a who gives AOL a “neutral” rating. site—have jumped by nearly a third and the $1,200-per-square-foot platform early next Mr.White sees the company’s ad in the past year, and have more than property have unique attributes, year that it believes platform as a way to better monetize doubled since the recovery began in such as taller height limits, and are will take advantage of its own sites.He also thinks the con- late 2009, according to data from in locations that would allow them both the tremendous tent brands’ relationships with big Massey Knakal Realty Services. to command premium values. traffic to its media advertisers could prove a major dif- With buyers flocking from all Meanwhile,though the invento- brands, like The Huff- ferentiator as ad dollars move from over the world to pay so much for ry of new Manhattan condo apart- ington Post and television to online videos like those bare earth, many real estate profes- ments stands close to historic lows, TechCrunch, and the in AOL’s slate of original shows.But sionals predict that some are over- developers with such projects in the global shift in the way he thinks it is far too early to say reaching. works will soon face more competi- ads are bought and whether AOL’s ad platform can dis- The challenge facing these buy- tion than the borough has witnessed sold online. place more established platforms ers is whether they can net the apart- in years. At least 1,000 ultraluxury “We built a desti- like Google’s and AppNexus’. ment sales necessary to justify the apartments will be added to the nation before people Mr. Armstrong insists that escalating land costs—a substantial market this year,with another 1,000 got that it would be a AOL’s ad-tech business will benefit gamble, considering the apartment expected to follow in 2015, accord- destination,” said from the company’s sites, which prices some recent land purchases ing to rough estimates by Stephen CEO Tim Arm- drew 175 million unique visitors in have been predicated upon. Kliegerman, president of Halstead strong, referring to the June to give AOL the fifth-largest Property Development Marketing. ad-technology servic- audience on the Web, according to Buoyed by the High Line He said the sale price of 40% of the es the company has as- comScore. Advertisers have grown In the blocks near the hyperhot units coming to market this year sembled since spin- to trust the AOL brand and will High Line, such assumptions have surpasses $5 million. ning off from Time turn to its technology for their me- almost become the order of the day. In the past few years, work has Warner in late 2009. dia-buying needs, he said. A case in point is a development site begun on a clutch of super-tall tow- “Now we have all those More than 100 advertisers have acquired last year by Michael Shvo ers around the southern end of Cen- assets in place.” signed on for the programmatic and Victor Homes next to the ele- tral Park. But residential brokers re- AOL is in a race to platform in the past quarter, Mr. vated park on 10th Avenue and West port that actual sales in buildings unify those assets as Lord said. He believes consolida- 24th Street. They paid a then- such as the 1,004-foot One 57 and other Internet players, tion means more concentrated ad shocking $800 per buildable square 1,400-foot 432 Park Ave. have including Facebook spending,to AOL’s benefit,and that foot, a record for the neighborhood, slowed in recent weeks. It may be and Oracle,buy up ad- the automated systems will eventu- and one of the highest prices ever just a normal summer lull, but it is tech companies at ally bring lower personnel costs. paid citywide for a development site. one that a lot of people have their hefty prices. The ur- “We have a massive base we can Less than 12 months later,Relat- eyes on. gency of the mission start with to make sure our systems ed Cos., the city’s largest developer, “Those buildings are the bell- reflects how quickly CHIN UP: AOL CEO Tim work,”said Susan Lyne,CEO of the shattered that ceiling. In May, it wethers of the luxury residential the industry is moving Armstrong dumped his brand group. Ad innovations are Patch project amid splashed out a sum that observers market,” said Robert Knakal, toward the “program- disappointing results. coming to those properties, too, in- said amounted to $900 per square chairman of his namesake real estate matic”buying and sell- The company is cluding their first common mobile foot for two sites on either side of the brokerage.“Depending on how they ing of display ads. focusing on advertising ad unit. “There are a lot of things in High Line. sell, it could have an impact on the The automated technology. place that are going to allow us to Perhaps inspired by that transac- market for land that can accommo- process,in which com- monetize our growth in a much big- Ⅲ Ⅲ tion, a nearby landowner has set its date future projects of that type.” puters talk to each oth- buck ennis ger way going forward.”

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its place as a breeding ground for tech companies; this year, they’re on some of the city’s hottest startups,St. pace to exceed $4 billion. Silicon Island? George will soon be home to two One challenge: whether the major condo projects of its own, as private-public partnerships that well as one of the world’s largest Fer- helped spark Brooklyn’s creative tech the North Shore of Staten Island,” ris wheels and the enormous Empire scene apply to Richmond County. Staten Island (yes, Borough President James Oddo Outlets retail and hotel complex. In Brooklyn, Industry City and Staten Island) wants said, deeming it “an area that is well Deputy Mayor Alicia Glen has the Brooklyn Navy Yard have on its way to becoming the hippest publicly praised the North Shore’s proved that joint investments in us- to be next tech hub waterfront community in the city.” potential. During a speech at Inter- able space can help launch startups. That may be typical borough- net Week in May,Ms.Glen said that On Staten Island, the New York president hyperbole. Right now, the area was full of space “ripe for Wheel and Empire Outlets—proj- BY THORNTON MCENERY there are only about 15 tech firms on funky adaptive reuse.” ects dear to Mr. Oddo—were both the island, according to the city’s Staten Island fans say its spaces launched through city intervention. If the de Blasio administration Made in NY map of tech startups. could be particularly attractive for Similar involvement would be re- achieves one of its stated goals, tech (By contrast, a single building in the manufacturers of everyday devices quired to turn St. George into what workers will soon be pouring off the Flatiron district, 902 Broadway, that are connected to the Internet. some are calling “Silicon Shore.” Silicon Ferry, cascading past a huge more than triples that count, ac- “What better borough is there But there’s almost no city-owned Ferris wheel, piling into the hip cof- cording to the city.) But boosters say for ‘the Internet of things’than Stat- acreage left on the North Shore, fee bars of newly minted NoSho,un- the potential is there. en Island?” Mr. Onesto said. “We ISLAND INCUBATOR: which means incentives would be zipping their hoodies and getting to have the right kind of affordable Scott Van Campen has the tool to spur startups. Those in- The Dumbo model turned his waterfront work in New York city’s hottest tech space and strong infrastructure.” metal shop into a space centives must be large enough to get scene: Staten Island’s North Shore. “If you look at Staten Island to- The borough’s best example may for startups to grow. the attention of private investors.

Mayor Bill de Blasio, in his call day, people are going to be cynical be Staten Island MakerSpace, a buck ennis “Since taking office [in January], for a “true five-borough approach” about it as a center for tech,” metal shop near the water I have been engaging with the tech to tech,has made it clear he wants to said Anthony Onesto, an that has been repurposed members a place to create and incu- community,” said Mr. Oddo, a Re- grow the industry in even the un- executive at digital ad as a creative incubator. bate business ideas through access to publican who exemplifies the bor- likeliest of places—and that in- company Razorfish who 15 “Staten Island has the a metal shop, a woodworking space, ough’s long-held independent NUMBER OF S.I. cludes Staten Island. is trying to bring a tech TECHNOLOGY FIRMS opportunity to do it and a computer lab and 3-D printers. streak. “I want to ensure that gov- The borough has its secret incubator to Staten Is- listed on the city’s to do it right,”said Scott “We’ve worked to seed the tech ernment helps when it can and gets weapons. The island, especially the land. “But those same Made in NY map of Van Campen, co- ecosystem in Staten Island, partic- out of the way when it should.” North Shore, has some of the least people would be saying tech startups founder of the site. “It’s ularly where tech meets manufac- Mr. Onesto, Ms. Lampman and expensive commercial space left in the same things they said staggering what could turing,” EDC President Kyle Kim- Mr. Van Campen are eager to prove the five boroughs and a broadband about Dumbo 10 years ago, happen here.” ball said. the potential of their projects. But infrastructure that is among the best and look what’s happened there.” After Sandy flooded the 6,000- they know the island can’t make the in the nation. Staten Island was the Like Dumbo during the early square-foot space on an industrial Needed: VCs leap to tech hub on its own. first borough to be fully wired with 2000s, Staten Island boasts a large block in the Stapleton section of the It will take more than cheap space “It’s been happening organically Verizon FiOS fiber. And according inventory of affordable industrial North Shore, Mr. Van Campen and and strong connection speeds for any so far,” Mr. Van Campen explained. to server-network company Akamai space and—perhaps more impor- his wife, sculptor DB Lampman, lit “Silicon Island” to emerge, however. “What we’re hoping happens here is Technologies, Staten Island ranked tant—is about to undergo a major on the idea of rebuilding it to serve The borough will have to take ad- more of what we’ve seen so far but second in the U.S. in terms of aver- renovation. Just as Dumbo has used what they saw as a growing need in vantage of venture-capital funding on a bigger scale.” Ⅲ age connection speed by city area. multiple new luxury condominium the area. Now, with help from the levels that have begun to rival the (Only Riverside, Calif., was faster.) high-rises and tourist attractions city’s Economic Development dot-com boom. Last year, investors LISTEN to a discussion at “This is a very exciting time for like Brooklyn Bridge Park to cement Corp., MakerSpace offers paying poured $3.2 billion into New York CrainsNewYork.com/podcasts A city that’s juiced up

have hopped on the bandwagon, are too big and costly—most are We’re highly liquid, checkbooks in hand. Last year, near 1,500 square feet—to support judging by explosion private-equity firm Weld North the business. swallowed New York-based Organ- “There will be a shakeout,” said of juice bars in NY. ic Avenue, following tea maker Andrew Moger, chief executive of Hain Celestial Group, which real estate management firm BCD. Inevitable shakeout bought juice-cleanse brand Blue- He predicts that many of the brands seen for the food fad print Cleanse two years earlier. vying for space across the city will be The folks behind these libations gone in a few years.Already,pioneer- FASTEST FOOD: Juice say they offer impatient, health- ing California-based Jamba Juice is drinks appeal to New BY ADRIANNE PASQUARELLI conscious and affluent New Yorkers under pressure from a dissident Yorkers pressed for time, says Eric Helms of Juice a way to get the nutrients they need. shareholder to cut costs by dumping Generation. The concoctions have names like And for now, that’s a big sell. its 15 unprofitable company-owned

Doctor Earth and Hail to Kale. “New Yorkers are always looking outposts in New York City, reports buck ennis They’re frequently green and frothy. to do things quicker,” said Eric The Wall Street Journal. And they are, it seems, everywhere. Helms, CEO of Manhattan-based Juice-only shops say the returns has a dozen stores, and Juice Press, Mr. Bates describes his push for Scores of juice shops have Juice Generation, with 12 bars and are still rich. Four-year-old Juice with about 20, are planning to add broader offerings as a success. opened here in the past four years, six more in the works.“For people to Press generates in excess of $3,000 a locations.Nationwide,the picture is “Our new stores at Bryant Park, fueled by New Yorkers’ growing sit down and eat a couple pounds of square foot in annual sales on aver- much the same, as juiced-up entre- Bleecker Street and the Flatiron dis- taste for liquefied spinach, kale, leafy greens would be torturous, but age, said Michael Karsch, the pri- preneurs race to cash in on a craze trict serve more than three times as wheatgrass and other vegetables and to drink it in a juice that tastes pret- mary investor in the business. That that many say began in Los Angeles many customers as our existing fruit—with prices as high as $10.99 ty nice is really appealing.” compares with a reported several years ago and spread, stores on a daily basis—the large for a 17-ounce cup.A handful of the $3,043 a square foot for av- catching on with a wealthy majority of whom are purchasing bigger juice brands have opened The next Crumbs? erage sales at upscale jew- clientele and celebrities food items,” he said. more than 50 locations. Food fashions, however, often eler Tiffany & Co., for $1.3B from Donna Karan to Purists, however, still seem to And those new restaurants don’t have life spans marginally longer example. Rather than JUICE-BAR SALES in Blake Lively. prefer their liquid lunches. On a re- include the gyms and health-food than fruit flies’. A frozen-yogurt fad adding hard-food items, the U.S. in 2013, To be on the safe side, cent afternoon, a juice bar on East stores—even mighty Starbucks— collapsed five years ago under the Mr.Karsch is happy to let about double the however, some shops are 42nd Street was swamped with amount of a decade that have also started hawking juices weight of rising rents and failing his customers do that earlier branching out.Earlier this slender women in yoga gear. in recent months. customer traffic, forcing an army of themselves after dark. year, new Chief Executive “As a replacement for lunch, it’s Juice-bar sales last year totaled Pinkberrys and Red Mangos and “We have a lot of people who Martin Bates, former head of comparable [in price] to other op- $1.3 billion nationwide, roughly others to shut their doors. The re- call themselves Juice Press were- Pret A Manger USA,added hot and tions,” said Lauren Matz, a business double the level of a decade earlier, cent bankruptcy of cupcake purvey- wolves,” said Mr. Karsch, noting that cold food items to Organic Avenue’s development manager who lives in according to research firm Eu- or Crumbs, with its 16 locations in “juicing” has become a veritable menu. Now customers can get cof- Manhattan and visits juice bars at romonitor International Ltd. No the city alone, exemplifies the dan- lifestyle for loyal fans.“They consume fee, oatmeal, soup, hot wraps and least once a week. “And for dinner, wonder that Starbucks’ coolers to- gers of one rather pricey product. Juice Press all day; then at night, grain bowls. Several of the 14-year- it’s a savings.” Ⅲ day include neat rows of 15.2-ounce And some retailing experts wor- they’re so-called bad, and [they] con- old chain’s existing stores are under- bottles of Evolution Fresh juice for ry the juice craze may go sour; they sume whatever they want.” going conversions to the food for- LISTEN to a discussion at $5, and that Wall Street investors warn that most juice-bar locations Both Organic Avenue, which mat that all new locations will have. CrainsNewYork.com/podcasts

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few vestigial bums to $50M hattan and such ameni- sion of the top floors, Mr. Rosen- Battle over Bowery get there?” The ad- ESTIMATED SALE PRICE ties as “exclusive pass key garten’s lawyer said. joining restaurant, for three-floor Bowery elevator access” and a “They just circumvented the Gemma, has been de- Hotel condo overlooking “gourmet chef ’s kitchen; agreements for their own greed and Continued from Page 3 homeless shelter,and across the street rided as “trattoria chic” former skid row spa style bathrooms; cav- gain,” said Richard Williamson, a tations of words on a piece of paper” was a Salvation Army. So it didn’t but has nonetheless be- ernous closets;fireplace and partner at Flemming Zulack and “a dispute over windfall profits.” sound like a bright move,and at times come a nightlife fixture. rich red brick exteriors,” ac- Williamson Zauderer who is repre- “Our contract was fairly com- I questioned what I was doing.” “The Bowery was really the turn- cording to an email advertising the senting Mr. Rosengarten. “The plex,” Mr. Born said. “People might Mr. Born remembers a similar ing point, if you will, or the point in apartment obtained by Curbed. Up jury’s gonna love this case.” have different memories of what setting, in which the Bowery which the neighborhood really start- until this point,Mr.Rosengarten had Under the direction of his might have occurred 10 years ago.” seemed ripe for rediscovery. ed to gain momentum,” said Sean been renting it to super-luxury ten- lawyers, Mr. Born declined to ad- When the two joined forces in “It was just kind of sleepy,” he Hennessey, chief executive of Lodg- ants, such as billionaire Ron Burkle, dress Mr. Rosengarten’s claims 2005 to build a hotel, the Bowery said. “A few years later, suddenly ing Investment Advisors, who is not for $30,000 to $65,000 a month. head-on. He said that in his three neighborhood was better known for Bowery is the place. I think we connected to either party. “They had Brokers estimate a three-floor decades in the real estate and hospi- prostitutes and punk rockers than shook things up there.” some challenges early on.I remember condo crowning the Bowery Hotel tality industries, he has never had a iPhones and Prada bags.But the last there were some incidents where the could fetch $50 million. By compar- legal dispute with a partner like this. flophouse on the Bowery had closed ‘Turning point’ hotel was open and people were walk- ison, Rupert Murdoch just acquired “We tried to solve it with a Scotch, a year earlier, and the duo were hop- With zero experience in the hotel ing out of the methadone clinic near- a triplex penthouse at the Flatiron but we couldn’t,” Mr. Born added. ing to cash in on the rapidly gentri- industry, Mr. Rosengarten brought by.Now it’s much more established as district’s 1 Madison for $43 million. Mr. Born’s lawyer has not moved fying East Village. on Mr.Born and his partners,includ- a tourist-trendy, visitor-friendly “What I wanted to do was create to dismiss the case, which is now in Mr. Rosengarten, who after his ing boldface names in hospitality neighborhood.” a gem in the city,” Mr. Rosengarten the discovery phase. A trial date has foray in fashion turned his sights on such as Sean MacPherson (the Mar- In 2011,the moment Mr.Rosen- said.“It’s really an amazing property.” yet to be set. Meanwhile, tenants real estate, leased the properties at itime Hotel, the Waverly Inn), Eric garten had been waiting for finally continue to occupy the top floors of 335 and 343 Bowery, between East Goode (founder of the Turtle Con- came: The land under the hotel be- Contract flap the hotel, soaking in the views and Second and East Third streets,from servancy as well as the Area nightclub came available for purchase after Mr. Rosengarten accuses Mr. most likely unaware of the turmoil a Las Vegas-based landlord named and B Bar) and Ira Drukier (the Mer- Mr. Guior, the Vegas property own- Born of circumventing their contract bubbling below. Alan Guior, hoping to replicate the cer, Jane and Greenwich hotels), to er, died. According to Mr. Rosen- by purchasing 100% of the stock in Both Messrs. Born and Rosen- revival he saw happening across act as the designers and operators of garten, the original agreement said the late Mr. Guior’s company, garten say they hope to emerge from town in the meatpacking district. the hotel. Under the agreement, Mr. that if the land became available, Woodcutters Realty Corp., so as to the lawsuit with their friendship in- After leasing the site,Mr.Rosen- Rosengarten would control and op- Messrs. Rosengarten and Born exclude Mr. Rosengarten from the tact—“I like Richard Born,” Mr. garten demolished its two-story gas erate the top three floors as residen- would acquire it and Mr. Rosen- purchase of the land under the hotel, Rosengarten said sadly. station and began plans for a mixed- tial rental units, his lawyers say. garten would have the right to con- and thus deny him the right to con- Mr.Born admits the personalities use development that would include The property was featured on vert the top three floors of the hotel vert the top three floors to condos. involved make an intriguing story, some combination of residential,re- Travel + Leisure’s “It List”in 2007 and into one, unified condominium to Mr.Rosengarten also claims that and even suggested a headline for tail and parking, but eventually set- was among Fodor’s top 100 hotels of sell for an exorbitant fee. immediately after he filed the law- this article: “ ‘Inventor of leisure suit tled on a hotel. The initial reaction 2011. The space “evokes the Gilded If the hotel were an ice-cream suit in April, Mr. Born stopped rev- sues inventor of boutique hotel,’” he from his peers was incredulity. Age of red waistcoats,hand-set bricks sundae, the penthouse would be the enue payments to Mr. Rosengarten said. “That’s a great headline.” Ⅲ “People thought I was crazy when and wood-paneled elevators,” The cherry on top: a full-floor loft with a from his 12% equity stake in the ho- LISTEN to a discussion at I wanted to do this project,” Mr. New York Times wrote in 2007. “So 1,500-square-foot outdoor patio, tel.Since then,Mr.Born has refused CrainsNewYork.com/podcasts Rosengarten said. “It was next to a what if you might have to step over a stunning 360-degree views of Man- to proceed with the condo conver-

tion coming out for the museum.” MAD world is all his Ms. Cromwell said she was im- Hitting housing goals pressed that Mr. Adamson decided to start holding the ball again and Continued from Page 4 debt-free balance sheet to carry out stressed that the museum’s outreach Continued from Page 4 The picture is much the same at Before joining MAD, the 41- his vision. Retirements allowed him efforts must be repeated regularly in sued a press release in its final days Hunters Point South on the Long Is- year-old Boston native was head of to select a deputy director/chief oper- order to cultivate new patrons. insisting it would cross the goal line. land City waterfront in Queens. the research department at the Vic- ating officer, a lead designer and a di- Mr. Adamson was an unconven- On the other hand, the current There, Mr. Bloomberg three years toria and Albert Museum in Lon- rector of exhibitions,and promote the tional choice for the top spot. With crowd in City Hall explains that ago announced the largest affordable don,where he shaped major exhibits chief curator to help him put his im- an undergraduate degree in art his- even in cases where detailed plan- complex in the city since the 1970s— and managed partnerships with print on the institution.And last year, tory from Cornell and a doctorate in ning commenced months before at least 3,000 units—as part of his other institutions. the museum retired the last of the the same subject from Yale, he is an Bloomberg left office, lining up the promised 165,000 units.But the bulk New York, like London, is a debt on its 10-story building, pur- academic who has authored several financing and tying up loose ends of the Hunters Point South housing museum-rich city, and Mr. Adam- chased in 2005 for $17.05 million. books and is the founding co-editor took hours of work. In other words, will be financed, built and, of course, son plans to make his mark on the “I want to tell the stories of the of The Journal of Modern Craft,a it’s claiming the 8,700 units stand as counted under the current mayor, as cultural scene, carving a niche for craftspeople,” said Mr. Adamson, a scholarly publication. a genuine de Blasio achievement. will the 500 affordable units that are audiences and donors by focusing former MAD intern. “I want to tell But because Mr. Adamson Unfortunately for both sides, the part of a massive Lower East Side de- on craftspeople. the stories of the fabricators.” worked at a museum that was large- picture gets murkier when reviewing velopment known as Seward Park, Located at Columbus Circle, ly funded by the government, he the most ambitious affordable- the largest development in Manhat- MAD has had it easy for a few years An unconventional choice doesn’t have as much fundraising ex- housing construction projects in the tan in decades. Seward Park was un- because the Cooper Hewitt, Smith- The biennial, running through perience as would be expected for a city’s recent history. veiled with great fanfare by Mr. sonian Design Museum has been Oct. 12, illustrates that determina- post that requires cultivating donors. At Atlantic Yards, 2,250 units of Bloomberg in late 2013. closed since 2011. But it will reopen tion: Sixty-five public programs, in- MAD’s board chairman, Lewis affordable housing are scheduled to “Elected officials never like to in December after a $91 million cluding demonstrations, lectures Kruger, said Mr. Adamson had oth- rise at the edge of downtown Brook- give their predecessors or successors renovation that includes more inter- and workshops, accompany the ex- er talents that compensated for his lyn.That project’s saga dates back to praise,” Mr. Dadey said. “But often active elements. hibit. Those events, plus 20 more lack of fundraising know-how. the mid-Bloomberg era, yet work large projects are a joint effort.” “MAD has had the benefit of that highlight other exhibitions, to- “We thought his knowledge and has begun on only one of the That may be worth keeping in stepping into a vacuum left by the tal about 10 more public programs enthusiasm and infectious personal- planned 15 towers. Among other mind:When the de Blasio adminis- Cooper Hewitt,” said Wendy than the museum held last year. ity would make him a successful di- things, that means the vast bulk of tration leaves office (assuming re- Cromwell,an art adviser and princi- “I want there to be more direct rector,” Mr. Kruger said. “He comes those affordable units will go down election) on Dec. 31, 2021, it will pal of Cromwell Art. contact with the artists,”Mr.Adam- with a compelling history.” in city history on Mr. de Blasio’s hand its successor quite a chal- Mr. Adamson said the two insti- son said. “If you can expose people Mr. Adamson will also have time page of the ledger. lenge—building or preserving tutions have several differences. For to a creative spark, it is even more to grow into his fundraising role. No “Who deserves credit is a game somewhere around 40,000 units of example, the Cooper Hewitt might powerful for them [than just seeing major fundraising drives are planned. that goes back to the founding of our affordable housing in two years. display industrial prototypes for the work].” The endowment is almost $13 mil- democracy,” said Dick Dadey, exec- Only then will the current mayor be items such as computers or pros- He believes injecting more live lion, though most of the recent utive director of civic group Citizens able to say that he did what he prom- thetic limbs. MAD’s focus, howev- events that focus on people will help fundraising has gone toward paring Union.“[Mr. de Blasio] wouldn’t be ised to do in his 10-year plan. er, would be not only on the artists, broaden the audience and donor down the institution’s debt from the able to take credit for those efforts if If history is any guide,by then his but also the unsung craftspeople base. This year, he resurrected the purchase of its building. Retiring the [Mr.] Bloomberg hadn’t acted when successor’s team will have claimed who bring their visions to life. young patron’s ball to help with that debt will save MAD $340,000 in in- he did, but [the new mayor] is also those same units as the down pay- “We think our institutions will part of the mission.The party,which terest expense this year. “We have making sure the project continues.” ment on its own housing plan. Ⅲ reinforce one another, rather than was held at the James Burden man- really eased the financial pressure,” compete, by helping to whet the sion, featured a Jazz Age theme, at- Mr. Kruger said. public’s appetite for design,” said tracted 140 people and raised more Mr.Adamson doesn’t expect to in- CORRECTIONS Caroline Baumann, the Cooper than $125,000. crease the institution’s $10.5 million Matthew Burnett is a co-founder of Maker’s Row. Mr. Burnett’s first name was misstated in the July 21 Hewitt’s director, in a statement. “There was great energy at the budget.“I want some room to maneu- “Minority tech founders seek VC connections.” Mr. Adamson has the advantage party,” said Ms. Cromwell, who at- ver and explore,” he said. “I don’t feel GoGreenRide is a livery vehicle. The car was misrepresented as a green taxi in a photograph in the July of having a handpicked team and a tended. “There was a new genera- the urgency for a major expansion.” Ⅲ 21 “Fare fight!”

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HELLUVA TOWN INSIDE Source Lunch Hot A Cyrano for real estate market buoys the Glee crowd city’s largest brokerage PAGE 30 The setting has switched from the convents and battlefields of 17th- century France to a burger joint in Out and About the present-day U.S., where teens Summer Streets PAGE 31 burst into songs by Madonna and Katy Perry. But the story still centers on a guy with a prominent nose who uses his prodigious talent with words to woo a girl for a friend. Cyrano de BurgerShack may be coming to high schools ANY WAY YOU SLICE IT, and community theaters soon if celebrity investors (from left) John Starks, Chris Cuomo Stageworks Media is successful. and Anthony Mason have Founded by former Disney kept Custom Fuel Pizza hot.

executive Michael Barra last year, Stageworks aims to update classic works such as Cyrano de Bergerac, set them to modern music and then license them for marketing to schools and theater groups. Unlike the classics, however, the plays are designed to fit the specific needs of high-school and community theaters. That means there are more parts for females than males and big musical numbers that can incorporate a high school’s orchestra. Stageworks has been going to theater festivals this summer to tout its work, and in July licensed the musical to publisher PlayScripts, which will begin marketing it in the fall. “We are using a movie-studio model: We create content that can be distributed and licensed,” said Mr. Barra. But the content also steers clear of controversy. Sting’s song Roxanne, which shares its name with the play’s heroine, would have seemed a natural for Cyrano, except the tune is about a prostitute. —theresa agovino Finest wines Forget Paris, Rome or even Napa. Dining with the stars The World of Fine Wine’s inaugural World’s Best Wine Lists 2014 finds New York is tops when it Big-name backers can draw customers to a restaurant, comes to restaurant wine selections.Thirty-six local eateries but they don’t guarantee success got three stars, the highest honor, ahead of London’s 16, Chicago’s

six and Rome’s four. Chef Daniel gabi porter Boulud’s Restaurant Daniel and Bar Boulud were among the three- BY LISA FICKENSCHER star recipients, as were Thomas Keller’s Per Se, David Bouley’s Bouley Restaurant and Mario izza joints are a dime a dozen in this town, so it’s easy to imagine that Custom UPS AND DOWNS Batali’s Babbo and Del Posto. Fuel Pizza could have faded into doughy obscurity when it opened in Harlem The judges reviewed more than 4,000 wine lists from restaurants earlier this year. ¶ But it didn’t, in large part because five well-known sports around the world before coming figures and broadcast journalists are investors in the business, including New up with the final 750 that received York Knicks legends John Starks and Anthony Mason, and CNN news anchor one, two or three stars at a judging 1990 session held at Lutyens Restaurant Chris Cuomo, kid brother of New York’s governor. ¶ Their fame has landed the YEAR Tribeca Grill in London. Only 224 wine lists 1,200-square-foot eatery on celebrity show TMZ and earned it plenty of press, opened were recognized in including a story in Crain’s ( Jan. 20, 2014). ¶ On June 3, Mr. Starks brought the the three-star pizzeria to the All-Star Tasting Event for the Partnership for Drug-Free Kids—attended by many category, with New York athletes, including New York Jets linebacker Demario Davis and former NBA All-Star Bill City’s making PLaimbeer, further extending its public pedigree. ¶ “The restaurant has far exceeded our up nearly one- expectations,” said Jeremy Wladis, who founded and operates Custom Fuel, which is attracting a 2013 sixth of them. YEAR Siro’s of Manhattan —valerie following far beyond its Harlem neighborhood. ¶ It remains to be seen whether the pizzeria has a closed, after just 10 months block long future (it opened in February), but the celebrity buzz has See DINING on Page 30 in business

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SOURCE LUNCH: Dining with the stars DOROTHY HERMAN by Joe Anuta Continued from Page 29 Spotted Pig has enjoyed a decade- been an essential ingredient in its long run with such oversize celebs current success. DOUGH BOYS as Jay Z;U2’s lead singer,Bono;and Marriages between restaurants LAUGHING MAN its own celebrity chef, April and celebrities are nothing new— COFFEE & TEA Bloomfield, whose mentor, Mario A rising market lifts 24-year-old Tribeca Grill counts 184 Duane St. Batali, is also an investor. more than a half-dozen megastars Actor Hugh Jackman “The Spotted Pig is a great ex- on its roster, including Robert De is a co-founder. ample of a successful celebrity- largest brokerage Niro,Bill Murray and Sean Penn— THE LION owned restaurant, where the in- but in a super-competitive foodie vestors support the eatery not only 62 W. Ninth St. city like the Big Apple, finding the financially, but with their constant ABC legal analyst Dan Abrams right partner is often the difference presence,” said restaurant consult- hen Prudential Half of Long Island is in Boca Ra- between longevity and extinction. and former Men’s Health Editor ant Steven Kamali. Long Island was ton, Palm Beach or South Beach David Zinczenko are co-owners. selling its collec- [Fla.]. Don’t forget: When you sell a Notable flops LOCANDA VERDE The Mexican factor tion of real estate home, it’s personal. Once we have a There has been no shortage of 377 Greenwich St. Still, a celebrity backer is not a offices 25 years relationship with a client, we know flameouts. Pop star Britney Spears Actor Robert De Niro and star guarantee of instant success, as ago,W an employee there named them. We know what they like. It’s had a short-lived association in 2002 chef Andrew Carmellini are co- opera singer Plácido Domingo Dorothy Herman did something like being a trusted adviser. They with now-defunct Nyla restaurant in owners. learned more than 10 years ago that many—herself included— don’t want to start all over again, so the Dylan Hotel, and in 2013, Siro’s when his townhouse restaurant, thought was crazy. She took out a we are in markets that we find our of Manhattan, a steakhouse on Sec- MERMAID OYSTER BAR Domingo, at 209 E. 49th St., failed loan and bought the place. clients going to.That’s why we are in ond Avenue, closed after less than a 79 MacDougal St. to attract the crowds the star drew After another purchase with southern Florida and, for our bi- year despite having high-profile Actor Zach Braff is an investor. onstage. business partner Howard Lorber coastal clients, in Los Angeles. backers like Mariano Rivera and SOFRITO To fix the problem, the tenor that resulted in the current iteration Entourage actors Kevin Connolly 400 E. 57th St. brought in chef Richard Sandoval, of Douglas Elliman Real Estate,Ms. The influx of foreign buyers seems like it and Kevin Dillon. New York Yankees slugger Carlos who owns a number of successful Herman,who goes by Dottie,grew it has been unrelenting as of late. To be sure,such partnerships are Beltrán is an investor. high-end Mexican restaurants, in- into the city’s largest brokerage.The It’s a very strong piece of the market, not for everyone. “Our concern cluding Maya, giving him a 49% company now has roughly 5,000 but it is not 50%. I’ve read numbers with taking on a celebrity investor TINY’S & THE BAR stake in the business, which they agents. In addition to its offices on like that, and anyone who tells you is that it leads to a lot of white noise UPSTAIRS transformed into Pampano. Long Island and just north of the that is lying.You can’t profile and say, in the beginning that only fizzles 135 West Broadway The Mexican seafood restau- city,it has opened locations in Flori- “I sold this unit to this person,” and later on,” said John Meadow, New York Rangers rant is now enjoying “one of its best da and California,helping to quench “I sold that one to a foreign buyer.” founder of LDV Hospitality, an goalie Henrik years ever,” Mr. Sandoval said.The New York City buyers’ thirst for sec- But people from a lot of countries do $80 million restaurant company Lundqvist is an investor. partners recently renewed their ond homes in sunnier climes. feel like [New York City real estate]

that counts American Cut, Lugo bloomberg news, getty images lease for another 10 years. Ms. Herman also hosts her own is a safe investment. Caffé and Scarpetta among its “Every time Plácido does an in- radio show, doling out ad- holdings. “It’s a gimmick.” restaurant in TriBeCa, Montra- terview, he mentions Pampano,” vice on mortgages, per- WHERE We constantly see high-profile Even Drew Nieporent, a co- chet, had the idea to open another said the chef. “His fans come to the sonal finance and the cur- THEY brokers switching companies. owner of Tribeca Grill who has a eatery in his adopted neighbor- restaurant after his shows because rent state of the market. Did you take it personally knack for forging partnerships hood. The actor’s girlfriend at the they know he comes here.” DINED when Leonard Steinberg left with famous people, said he’s not time, Toukie Smith, approached Mr.Domingo can be seen dining There’s talk of a bubble. How THE FOUR for Urban Compass? inclined to seek out such alliances Mr. Nieporent one evening to ask at the restaurant about 50 to 70 times would you rate the market? SEASONS I love Leonard, and I’m al- at this stage in his career. him whether he wanted to partner a year, Mr. Sandoval said. While the It’s strong, but you can’t 99 E. 52nd St. ways going to love him.He (212) 754-9494 “There was a time when I was with Mr. De Niro. opera singer is not involved in the borrow money like you www.fourseasons worked at the company for younger and I thought, why don’t Tribeca Grill became a spring- operations, he has put his stamp on could prerecession. You restaurant.com 15 years; he was there be- we approach this guy and put his board for the Tribeca Film Festival the menu by suggesting items he has have to have skin in the AMBIENCE: fore me. I’ll never forget name on a restaurant, but today I and the resurgence of that down- tasted in his travels. A seared striped game whether you’re a de- Upscale and quiet when [business partner wouldn’t do it because food has im- town community. “Robert [De bass with black bean puree and cac- veloper or a person buying with attentive but Howard Lorber] and I proved so much that it’s more im- Niro] had a vision for the neighbor- tus sauce has been on the menu since an apartment. So people not overbearing came to the company, portant to have good food rather hood,” said Mr. Nieporent. the restaurant opened. aren’t flipping like they service [Leonard] cooked us a 17- than a big name,” said Mr. All of the original investors in Contrary to what most people were before. Everybody WHAT THEY ATE: course meal. White Nieporent,who has become a bold- Tribeca Grill, who include film might think, celebrity investors wants to make a return, but asparagus salad Was it good? faced name in his own right, ap- producers Bob and Harvey Wein- frequently are also paying cus- they aren’t looking to make Artichoke salad pearing on Food Network shows, stein, actor Ed Harris and dancer tomers at their restaurants. 20% in six months or some- with spinach and I could have been in the Bravo’s Top Chef and Good Morning Mikhail Baryshnikov, made back Mr. Wladis of Custom Fuel thing, and that was what prosciutto finest restaurant in the America. their original investments within Pizza is happy to give his star back- was happening. So that’s Two coffees world! He felt this was an When Tribeca Grill was con- three years of the restaurant open- ers free slices when they come by, really good for the market. PRICE: opportunity for him. If ceived, the restaurateur was not the ing and continue to make money but, he said, “if they throw a birth- I see it rising, but even if it $82.59, you hire people who nev- pursuer. Mr. De Niro, who was a on the eatery, Mr. Nieporent said. day party for 30 people, we would were to go down, this time including tip er go anywhere, then regular at Mr. Nieporent’s first West Village gastropub the charge them.” around people have equity. you’re not going to have a great company.All I ask of people is It seems like a rising market has also that you don’t burn bridges. Then attracted more real estate companies. I’m always there if they need me, About five or six years ago, all the and I don’t hold it against them information about co-ops and con- [leaving the company]. I think any dos became public. Now companies true leader in any industry would that couldn’t come in [because they say the same. didn’t have their own private data- bases] are trying. But it is really Why do you like doing radio? tough to penetrate New York City. I enjoy it. I think it provides a really The big brokerages have 85% of the good service for people. We have business.That being said, everybody special guests on, and I’ve been wants the New York buyers. working with a team for about six or seven years. It is so important today. Is that why you’ve been expanding to People really need to be informed, other markets? and where do you go? You could buy Yes, that’s where our customers are. a book, but this is in real time. DID YOU KNOW? Ms. Herman has lived in several New York City apartments, all of shimon & tamar rothstein & tamar shimon THE TRIBECA GRILL CREW, BACK IN THE DAY: (From left) Peter Klein, Gerry Hayden, Victor Tiffany, Drew Nieporent, Michael Trenk, Robert De Niro, Don Pintabona and Martin Shapiro them overlooking Central Park.

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OUT AND SNAPS Fundraising season heats up on the East End ABOUT by Jessica Kramer

CULTURE FIX CAREER BUILDER WEDNESDAY, AUGUST 6, WEDNESDAY, AUGUST 6 AND WEDNESDAY, AUGUST 13 Advertising Age and Advertising The Museum of the City of New York and El Women of New York present Museo del Barrio unite in a first-time the 2014 WOMEN-TO-WATCH partnership, presenting UPTOWN BOUNCE: AWARDS LUNCHEON. The 18th SUMMER NIGHTS, a vibrant series of block parties. annual event honors women in The free festivities include music, dancing, art the field of advertising. The workshops, gallery talks, food and drink vendors gala takes place at Cipriani and more. It will take place from 6 p.m. to 9 p.m. 42nd Street at 110 E. 42nd St. on the museums’ front terraces. Both institutions from 11:30 a.m. to 2 p.m. are located at East 104th Street and Fifth Tickets cost $350, or $250 for

Avenue and will offer free admission and AWNY members.To purchase gonzalez daniel mark vonholden/invision for james beard foundation/ap james for vonholden/invision mark extended hours. For more information and to tickets, visit www.awny.org/ BOBBY FLAY, SUSAN UNGARO, B. SMITH and ROMAN RICHARD BURNS, KATIE LEE, DAN RATTINER and GEOFFREY ZAKARIAN at Taste of RSVP,visit www.mcny.org or www.elmuseo.org. events/detail/event/2014- ROTH at the James Beard Foundation’s Chefs & Two Forks on July 12. The fete was part of the two-day foodie festival Dan’s Taste of women-to-watch-awards- Champagne party in Sagaponack, L.I. The July 26 event Summer, which raised $10,000 to All for the East End. The group collects money for luncheon. raised more than $65,000. charities on Long Island. TUESDAY, AUGUST 12 The NYC Business Networking Group hosts its monthly BUSINESS & ENTREPRENEUR GRADE-A NETWORKING MIXER. The event includes executives, investors, business owners, lavid photos lavid entrepreneurs, lenders and FRIDAY, AUGUST 8 more. The mixing and mingling It’s the time of the season for a show by THE occurs at Pranna at 79 Madison ZOMBIES. The British-invasion band (above) Ave. from 6 p.m. to 9 p.m. performs their hits “She’s Not There” and “Tell Tickets cost $10 in advance and Her No” at B.B. King Blues Club & Grill at can be purchased at 237 W. 42nd St. at 8 p.m. General admission www.eventbrite.com/e/business- tickets are $40 in advance, and there is a $10 entrepreneur-grade-a-

minimum per person. To purchase tickets, visit networking-mixer-tickets- ben asen www.bbkingblues.com/bio.php?id=4334. 12288839249. Police Commissioner WILLIAM BRATTON, ROBERT MORGENTHAU, TONY DANZA and JOHN OSBORN at the

pmc opening of the Police Athletic League’s 2014 Summer JAMES NEDERLANDER, MARGO MCNABB NEDERLANDER, CHARLENE Playstreets Program. The July 9 event celebrated 100 Years of DON’T MISS SUMMER STREETS NEDERLANDER and JAMES NEDERLANDER at the Parrish Art Museum’s PAL Playstreets, which gives children safe spaces to play on Midsummer Party in Water Mill, L.I. The July 12 gala took in $1.25 million. closed-off city streets. SATURDAY, AUGUST 9, AND SATURDAY, AUGUST 16 The NYC Department of Transportation See more of this week’s Snaps online at CrainsNewYork.com/galleries. presents SUMMER STREETS, its annual free celebration of pedestrians and bicyclists. Between 7 a.m. and 1 p.m., the route—from Lafayette Street, up Park Avenue to Central Park and East 72nd Street—becomes a long bike path, with activities such as mini-golf, fitness classes, a Park Avenue Tunnel sound installation and more. For information, visit www.nyc.gov/html/dot/summerstreets/

html/home/home .shtml. dotnyc

OPENING FUNDRAISERS WEDNESDAY, AUGUST 6, WEDNESDAY, AUGUST 13 THROUGH SATURDAY, AUGUST 16 New York Junior Tennis & Learning presents its The Sydney Theatre Company SUMMER GALA WITH THE STARS to benefit its brings its critically acclaimed various school and community programs in the version of Jean Genet’s 1947 city.The fete starts at 6:30 p.m. with cocktails, existentialist play THE MAIDS to the followed by a buffet dinner. It also includes Lincoln Center Festival. Cate dancing and a silent auction. Festivities take place Blanchett stars in this twisted tale at the Central Park Boathouse.Tickets start at of two sisters/maids who take turns $200. Visit www.nyjtlgala.kintera.org. playing the role of their mistress. The show runs for just 12 SATURDAY, AUGUST 16 performances at the New York City The Breast Cancer Research Foundation presents Center at 131 W. 55th St. Evening its HAMPTONS PADDLE & PARTY FOR PINK performances begin at 7:30 p.m. fundraiser.The two-part event features a paddle- and matinees at 2 p.m.Tickets boarding race at 8 a.m. (open to spectators) at range from $35 to $225. For more Havens Beach, L.I., followed by a 6:30 p.m. party information and to purchase at the private residence of Lisa and Richard Perry. tickets, visit www.lincolncenter To register for paddleboarding ($100 in advance; festival.org/current-season/ $120 day-of registration) or the party ($1,000), the-maids. visit www.hamptonspaddleforpink.org.

MARK YOUR CALENDAR …

TUESDAY, OCTOBER 7, THROUGH SUNDAY, OCTOBER 12 Avant-garde theater director Robert Wilson and musician Rufus Wainwright present SHAKESPEARE’S SONNETS, a “pop-opera romp” through the Bard’s best. The absurdist show takes place at the BAM Howard Gilman Opera House at 30 Lafayette Ave., Brooklyn. Shows are at 7:30 p.m. every day except Sunday (3 p.m.). Tickets start at $25. Visit

www.bam.org/theater/2014/shakespeares-sonnets. lesley leslie-spinks

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