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0 71486 01068 5 18 VOL. XXXI,NO.18 NEWSPAPER ai adn.Hewouldn’t saidno. Raviv Mr. fromhackers, networks for protectingcomputer $130,000 jobwitha10%bonus pitched the41-year-olda based inNew York recently take. about theroleshe’ll he’s getting pickier likeanydivo, And, star. finds himselfindemandlikeaHollywood suddenly DavidRaviv computer security, of yearstoilingintheworld adozen After ELSTEIN BY AARON frenzied frenzied starsofNewYork’srock the your businessare to keephackersoutof Geeks whoknowhow When aglobalcorporation When CRAIN’S WWW.CRAINSNEWYORK.COM E OKBUSINESS YORK NEW e TBOYSonPage18 See IT economy h Tboys The IT 57th Street? 57th luxury mega-tower on luxury Oh, God—yetanother HAVES PAGE 4 ® When affordable housing isn’t PAGE 11 PAGE 20 fashions forward Jaguar Beckford’s STYLE FLUID GIGS GOTHAM HAVE-NOTS Answer toNYC’srent woes: the suburbs! the woes: PAGE 14 MAY 4-10, 2015 PRICE:$3.00

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EXECUTIVE EDITOR’S NOTE

FYICRAINSNEWYORK.COM Educated mess

The education debate has turned into a brawl. Charter schools and Bratton leaves room teachers’ unions are using millions for compromise of political dollars to destroy each other. State legislators and the governor are thumbing their noses Bill olice Commissioner at Mayor Bill de Blasio’s effort to Bratton last week opened the get permanent control of the city’s window to a policing reform Jeremy Smerd ap imagess P schools. Standing with the mayor that could offer a compromise on this issue are businesses upset between warring political constituencies. ¶ At issue is City Council Speaker Melissa Mark- with the appalling unpreparedness of New York Viverito’s call to decriminalize quality-of-life crimes including public urination, biking on students for the workforce: Among city high-school sidewalks and drinking in public. Her proposal is opposed by the mayor, police, businesses and graduates who go to CUNY’s two-year colleges, editorial boards.The council speaker might lack a veto-proof majority but is riding a national about 70% need remedial courses. Fine timing, then, wave of anger over police abuses and disproportionate arrests of minorities. ¶ Mr. Bratton, for SUNY Chancellor Nancy Zimpher to come to worried that cops won’t be able to request IDs to check for outstanding warrants, defended his our newsroom last week. Since arriving from the “broken windows” policing in a 41-page report. But he acknowledged that people taken into custody for minor offenses often end up trapped in a byzantine system for days.“We can change University of Cincinnati in 2009, Ms. Zimpher has the penalty process that has become cumbersome and unfair,” he said. “It’s the process as much as suffered as an outsider with a reform agenda but has the arrests that people are concerned about.” ¶ That acknowledgement was welcomed by persevered with smarts and charm to improve Councilman Rory Lancman of Queens, who had told WNYC’s Brian Lehrer last month that SUNY’s finances, hire new faculty and expand people should not “have the full hammer of the criminal-justice system come down on their head degree programs. I was disappointed (though not for what is really a minor quality-of-life offense.” At press time, Mr. Bratton was planning to surprised) to learn that she does not back mayoral send a more detailed proposal to the council. control of schools. After all, she serves at the pleasure —jeremy smerd of SUNY trustees, who are appointed by the ‘BRIDGEGATE’ GUILTY PLEA enabling callers to create their own BIG MONEY governor. But she did say something that made my Three former allies of New Jersey private accounts. The Department of Ten-year-old fashion and style site ears perk up: Educators should follow the state’s Gov. Chris Christie have been Information Technology & Telecom- Refinery29 raised $50 million in a approach to Medicaid reform. Having covered charged for their involvement in the munications, which issued the “re- round led by Scripps Network Inter- 2013 closure of the George Wash- quest for systems integration servic- active and ad giant WPP,among the health care, I can tell you that to outsiders, New York ington Bridge. David Wildstein, a es,”hopes for work to begin in January. largest ever for a media company is considered a backwater when it comes to slimming former Port Authority official, aimed specifically at women. Refin- costs and improving outcomes. Ditto, I believe, for pleaded guilty and MTA BANS ADS ery29 is now valued at $290 million. education. But New York’s Medicaid redesign has could face two years Just a week after a in prison. Two others ‘So there will federal judge or- PRO SOCCER AT COLUMBIA? forced various stakeholders to work together or face were indicted on nine be no dered the Metropol- New York City Football Club could top-down cuts. (It helped that the governor brought counts, including itan Transportation move to Columbia University’s Bak- in Jason Helgerson, an outsider from Wisconsin, as conspiracy and fraud. unplanned Authority to display er Athletics Complex, where a larger an ad that could be stadium would be built that would be overseer.) Ms. Zimpher believes educators should do HOSPITAL WITHDRAWS pregnancy. interpreted as a call shared by the Major League Soccer something similar. “Maybe I’m a naive and silly girl, Montefiore withdrew to violence, the team and Columbia’s football squad. but you gotta try it,” she said. “It works in other its insurance plan We’re just not agency voted to ban NYCFC, now in its inaugural sea- cities.” Perhaps. But it won’t work here unless the from a government all political ads on son, plays at Yankee Stadium. program aimed at re- having sex’ subways and buses. two sides are compelled to sit down together with an ducing state and fed- —Joseph Ficalora, New These notices made PLUMBING WITH YOUR PASTRAMI outside education czar as mediator. And that eral health spending. York Community Bancorp up just $1 million The famed Carnegie Deli was tem- CEO, about the bank’s plan requires leadership. We’ll continue this conversation The Fully Integrated out of $138 million porarily shut down after Con Edison to avoid more mergers at our May 21 Breakfast Forum with Merryl Tisch, Duals Advantage pi- in total ad revenue workers found a Y-shaped piece of lot project awarded last year. Transit plumbing used to misappropriate chancellor of the state’s Board of Regents. Join us. 22 contracts last year totaling $14.6 agencies in Chicago and Philadel- natural gas. billion for plans to cover dual phia have approved similar bans. —emily laermer Medicare and Medicaid enrollees. THIS WEEK IN CRAIN’S Montefiore’s plan had the smallest PIMCO HIRES BEN BERNANKE contract among the group, at $8.2 The former Federal Reserve chair- SMALL BUSINESS------4 million. man will join global bond giant Pim- IN THE BOROUGHS co as senior adviser, a week after be------4 LAGUARDIA REVAMP ing hired for a similar role at hedge THE INSIDER------5 One major recommendation from a fund Citadel. IN THE MARKETS ------6 design competition to refurbish La- OPINION------8 Guardia Airport calls for transform- SILVER PLEADS NOT GUILTY GREG DAVID------9 ing the Central Terminal into the Former Assembly Speaker Sheldon REPORT: REAL ESTATE------11 airport’s new grand entrance. That Silver pleaded not guilty to a new SOURCE SODA THE LIST ------13 idea and others were shared with two charge that he transferred more than CLASSIFIEDS------16 finalists bidding on the $4 billion $287,000 in illegal proceeds into Investors Bank CEO Kevin P. 21 renovation of the terminal. Both investments that were not disclosed A DEAL ABOUT NOTHING Cummings has big plans. BUSINESS PEOPLE ------20 agreed to extend their bids to May to the public. A trial date is set for Hulu has signed a $160 million CORRECTIONS (SEE PAGE 19) 31, though some wonder if the new Nov. 2. deal with Sony Pictures and design ideas will upend the facility’s Time Warner’s Castle Rock to vol. xxxi, no. 18, may 4, 2015—Crain’s New York Business (issn 8756-789x) is redevelopment plans. FAVORING CURRIE stream episodes of Seinfeld.The published weekly, except for double issues the weeks of June 29, July 13, July 27, Aug. 10, Aug. 24 and Dec. 21, by Crain Communications Inc., 685 Third Ave., New York, NY Kelly Currie will temporarily replace transaction is part of the video- 10017. Periodicals postage paid at New York, N.Y., and additional mailing offices. Post- 311 GETS HELP Loretta Lynch as U.S. attorney for streaming site’s push to invest master: Send address changes to: Crain’s New York Business, Circulation Department, 1155 The city is requesting proposals to im- the Eastern District. Ms. Lynch, a more heavily in exclusive con- Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (877) 824-9379.Fax (313) 446-6777.$3.00 a copy,$99.95 one prove its 311 call-center system, the Crain’s Most Powerful Women in tent deals and original pro- year, $179.95 two years. (GST No. 13676-0444-RT) first major upgrade since it launched New York honoree, was sworn in as gramming. ©Entire contents copyright 2015 by Crain Communications Inc. All rights reserved. in 2003. New features could include U.S. attorney general.

May 4, 2015 | Crain’s New York Business | 3 20150504-NEWS--0004-NAT-CCI-CN_-- 5/1/2015 6:30 PM Page 1

IN THE BOROUGHS BROOKLYN Filling up on food co-ops Park Slope pioneer helps new grocers fill supermarket gap

SOFT SERVE: BY ADRIANNE PASQUARELLI Pierette Huttner is the sommelier at a boutique specializing More than a dozen people packed in France’s Maille inside a 700-square-foot corner mustard brand. store in central Brooklyn early on a recent afternoon. Some arrived with babies in strollers, others just with carts. But all had come for the same reason—to load up on fresh produce and dairy products at the area’s newest food phenomenon, the Windsor Terrace Food Co-op on

buck ennis Caton Avenue and East 8th Street. “This neighborhood was like a SMALL BUSINESS food desert,” said Lindsey Jones, a dancer who lives a few blocks away from the new shop. She previously bought her groceries 11 miles away, Mustard on tap (yes, mustard) at Trader Joe’s on Sixth Avenue in Manhattan, and schlepped them back home on the F train. “When I “We’re focused on making it a space for the heard about the co-op, I got so ex- Condiment entrepreneurs eye small, single-item stores community to learn and enjoy and get demon- cited that I signed up right away.” as profitable niche, but wholesaling is secret to success strations.” Popular in the 1970s for their Mr. Chaimberg is among a handful of entre- communal roots, co-ops have been sauce—and only hot sauce. Owner Noah preneurs who are staking their profitability on a gaining ground in Brooklyn recent- BY ADRIANNE PASQUARELLI Chaimberg believes that single-minded focus single item. High in price but simple in theory, ly after a long lull. Today, there are will be his recipe for success. these brands are homing in on the elegant sim- about 380 nationwide, according to Heatonist may well be the hottest store to open “People love hot sauce, and this is a place for plicity of making and selling a signature condi- the Food Co-op Initiative, a in the city this spring—and not just because it them to come and enjoy it,”said Mr.Chaimberg, ment or canned good that doesn’t require com- Minnesota-based nonprofit. At sells 150 varieties of hot sauce. The Williams- who crowdfunded his venture on Kickstarter and plicated ovens, refrigeration or excess space. least five of them have launched in burg shop, which debuted last month, sells hot raised more than $26,800, exceeding his goal. See SINGLE-ITEM on Page 19 See CO-OPS on Page 10

STATS AND THE CITY by Emily Laermer Another midtown project could BULGING BIG APPLE NEW YORK CITY’S BIRTHRATE is the lowest since 1936, according to the reach the heavens, God willing New York Post, but the population keeps growing. What gives? NYC’s live births dropped 7% from 2007 No wonder: The urban Northeast is to 2013. Birthrate per 1,000 population: America’s priciest place to raise children. its 1,000-foot-tall One57 and the super-tall buildings without public Avg. annual expenses, A church sale would 1,400-foot-tall Steinway Tower be- input. two-parent household, 2013 ing built by JDS Development. The church, meanwhile, is con- 20 $282K provide critical mass $261K $245K Extell’s plans have not been sulting with its congregants and a 16.0 $241K $231K for Extell’s next made public, but observers believe higher authority to determine how $194K 57th St. super-tower the collection of parcels could per- it might part with an asset believed 15 to be worth more than $100 million. “We look forward to a year in 14.3 BY JOE ANUTA Guidance on 10 which God guides us through the ’07 ’08 ’09 ’10 ’11 ’12 ’13 U.S. Urban Urban Urban Urban Rural high through challenges of everyday service, and Northeast West Midwest South areas A church on West 57th Street will brings a conclusion to our journey Meanwhile, more people moved here in Result? NYC’s population is expected to soon decide whether it will sell its through the land of redevelopment 2014 than left. Net migration, 2010-14: increase 9.5% from 2010 to 2040, sanctuary and 197-room hotel to a ‘the land of passing 9 million. and building study,”John Clenance, Bronx 2.8M 2010 2040 developer who could erect yet an- chair of Calvary Baptist’s Board of +1,194 redevelopment’ 2.4M other super-tall luxury tower on a Deacons, wrote in a year-end report Brooklyn single block—further transforming posted on the church’s website. +6,688 1.7M the city’s skyline. A vote on the sale—prompted by Manhattan 1.6M +12,272 2.6M A sale of the Calvary Baptist rising maintenance costs, the eco- 2.3M Queens Church and the Salisbury Hotel at nomics of running a hotel and a 1.6M +24,550 1.4M 501K 123 W. 57th St. would add a sizable mit a project similar in scale to its dwindling capital fund—is expect- 469K piece to Extell Development’s 75-story One57 a few doors down. ed by year’s end, according to a Jan- Staten Island -3,249 Bronx B’klyn Manhattan Queens S.I. years-long effort to amass a number The potential sale has community uary bulletin to church members Sources: NYC Department of Health and Mental Hygiene; U.S. Department of Agriculture; of contiguous properties there, and leaders up in arms over real estate that was obtained by Crain’s. U.S. Census Bureau, Empire Center; Mayor’s Office would allow it to potentially build a laws that allow developers to stock- Representatives from Extell, third high-rise on the same block as pile development rights and erect See HEAVENS on Page 19 ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY

4 | Crain’s New York Business | May 4, 2015 20150504-NEWS--0005-NAT-CCI-CN_-- 5/1/2015 6:03 PM Page 1 THE ities typically target those who got the mended by Mr.Cahill,who was paid loot, which the clergy members did by at least two of the companies in INSIDER not.They did,however,have a $1 mil- which the charity invested, officials by Andrew J. Hawkins and Erik Engquist lion insurance policy. said. He resigned two months after Perley Fund President Richard the president’s suicide, but in the Basini, meanwhile, paid nothing. settlement will fork over just He had killed himself in April 2013, $25,000 and some stock warrants. Political-theater stage directions five months after the attorney gen- He had lost $2.6 million in charity eral’s office subpoenaed the charity. funds, including $1.2 million to ny protester who intends to be arrested should Basini, a trustee, had taken con- Eliyahu Weinstein,who in 2010 was ar- remember to share one thing with the police, trol of the Perley Fund in 2009 and rested in a $200 million fraud. Bill de Blasio recruited Rabbi Jill Hausman, Msgr. Mr. Schneiderman will return all according to Mayor : a script. Michael Crimmins, the Rev. Peter but $50,000 from the settlement to A Larsen James The mayor made that recommendation to draw a and investment banker the charity,which has virtually noth- EXIT, STAGE LEFT: J. Cahill distinction between the 143 arrests by the NYPD of police- Bill de Blasio’s to the board. ing left except the proceeds from the brutality protesters last Wednesday and his own arrest during 2013 arrest The charity, created in 1951, Southampton property,which it sold protesting a stopped giving money to institu- last September at a $126,000 loss. a 2013 demonstration against a Brooklyn hospital’s hospital’s closure tions serving needy children in New The Perley Fund’s website, impending closure. “It was the most choreographed thing on was scripted with York City. Instead, it formed a chil- which depicts its choir with former the NYPD. Michael Bloomberg earth in terms of how the police wanted to handle it,” he said. newscom dren’s choir and bought a $1.1 mil- Mayor , tells the lion Southampton house where charity’s history in the sunniest of Mr. de Blasio explained that he struction,you follow the instruction,” Basini lived for below-market rent fashions. It says the Southampton had consulted with the police in ad- the mayor said. “It’s not debatable.” AG calls the tune and sometimes no rent at all, ac- house was purchased because “the vance and worked out the sequence But two state lawmakers, As- After a charity was looted, Attorney cording to the attorney general’s of- real estate market was depressed” of events that would lead to his be- semblyman Michael Blake and state General Eric Schneiderman obtained a fice. The 2,200-square-foot home and “it would be a good investment.” ing booked. Sen. Gustavo Rivera, castigated the $1 million settlement—but nothing with central air-conditioning, glam “One day in the not-too-distant “The police said, ‘OK, we’re go- NYPD for “deplorable acts of police from the main culprit. Instead he kitchen and in-ground pool has an- future the Perley Children’s Choir ing to give you this warning, you’re abuse and overreaction” during the went after three clergy members on nual property taxes of $30,058. will be much more than a group of going to do this, you’re going to do demonstrations. the charity’s board. Basini paid himself $189,000 for talented boys and girls sharing their this, and then we’re going to arrest “From witnessing billy clubs be- Mr.Schneiderman applied the fa- fundraising and marketing, but gift of song,” the website predicts. you,’” he recalled, adding,“This has ing taken out while officers stood mous logic of bank robber Willie Sut- raised just $2,360, documents show. “This choir will be a gateway gone on for generations.” directly in front of marchers on ton: He went where the money was. The clergy members claimed igno- through which dedicated children Last week’s arrests also resulted 42nd Street, to grabbing and arrest- State law requires trustees to en- rance of the payments,which were on can enhance their education and ca- from protesters not following police ing a man who was trying to peace- sure their organizations’ assets are the charity’s tax returns and financial reers having benefited from the les- orders, he said, but they were un- fully get back onto the sidewalk, to prudently managed, but the statements. Basini was reimbursed sons that can only be learned from planned.The authorities said they ar- a woman being struck on the side- Manhattan-based Victor E. Perley for personal expenses, too. being a part of something great.” rested those who refused orders to get walk by an officer who then walked Fund’s scandal came to light only The rest of the organization’s It will have to do so without Per- out of the street. away, there was behavior that was when a former grant recipient tipped $3.7 million portfolio was lost to ley money.The settlement forbids the “When the police give you in- unacceptable,” the legislators said. off the attorney general.Still,author- risky investments or scams recom- charity to pay for choir operations. Ⅲ

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May 4, 2015 | Crain’s New York Business | 5 20150504-NEWS--0006-NAT-CCI-CN_-- 5/1/2015 6:17 PM Page 1 IN THE MARKETS by Aaron Elstein

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Well, $2.25 million, to be exact. 8,000 rental properties available on For that sum, between Memorial the East End, reports brokerage Day and Labor Day, you can reside Convergex Group. Meanwhile, the in what’s described on Hreo.com as a number of millionaire households We congratulate our client newly constructed mansion in around the world grew last year by Amagansett with 2.6 acres of 19%, to 16 million, according to oceanview property, seven bed- Boston Consulting Group. rooms and eight baths. The 8,000- The good news is that most of square-foot abode (pictured) comes the runaway housing costs seem complete with a paneled library for confined to the high end of the those who like to conduct their Hamptons.The median price for a beach or poolside reading indoors. summer rental is unchanged from If $2.25 million for a summer last summer, at $45,000, according rental is out of your range, fear not. to Convergex.(Utilities and house- on the latest closing You can reserve a property in keeping usually aren’t included.) Southampton for just $1.8 million, Asking prices could certainly de- and there are three listed in East cline as summer approaches and Hampton for $1.6 million. In all, owners elect to take whatever they under its unique construction loan program there are a dozen properties that can get for their properties. cost seven figures to rent for a 105- The bigger question is why day window. Considering that only wealthy people would choose to two years ago summer rentals cough up so much for a rental prop- hadn’t yet breached the $1 million erty when presumably they could barrier, all we mere mortals can do afford to buy a house. Then they is shake our heads and say: Hamp- could charge someone else for the tons, you’ve come a long way. pleasure of living in it for a while.Of Now, why would anyone pay course, that could mean sticking these prices? Well, there aren’t around after the revelers leave. many hotels available, and sleeping And, really, what could be more in your car is frowned upon by the distressing for a millionaire socialite local cops. So if the Hamptons is a than being trapped in Southamp- place you need to see or be seen in, ton after the party has moved to a rental it is. Alas, there are only St. Barts? Ⅲ

Decline in LinkedIn -$700MCEO Reid Hoffman’s stake in his company after shares in the social-media site sank by 20% Friday after posting goulstonstorrs.com disappointing financial results. Mr. Hoffman’s stake

bloomberg news is now worth $3.3 billion.

6 | Crain’s New York Business | May 4, 2015 20150504-NEWS--0007-NAT-CCI-CN_-- 5/1/2015 2:23 PM Page 1

JUNE 19 DEADLINE When Facebook’s errors hurt your biz NOMINATIONS ARE OPEN a nearly constant grappling with the Mr. Swiader believes nonprofits to advertise on Facebook since Crain’s learns what rules governing social media. working on potentially controver- 2013. It keeps getting turned down. DOES YOUR COMPANY have what it others already know: “We’re spending a lot of time on sial issues need to collectively ad- “The ads were focused on in-store takes to earn a coveted spot on this, and that’s hard for us to afford dress what amounts to censorship. events and [Facebook] would block Crain’s New York Business’ 2015 Social-media censors as a nonprofit,” said Lawrence YTH, an Oakland, Calif.-based them, and we would appeal. Several Best Places to Work list? Swiader, director of Washington, nonprofit focused on youth health weeks later they would respond, and It’s time to find out. Registration are a little sensitive is now open to nominate companies D.C.-based Bedsider, an online net- issues, recently held a panel on this by that time the event was over,” co- for Crain’s eighth annual Best Places work that supports birth-control use topic. “We shouldn’t be put into the founder Rob Gaudio said. BY MATTHEW FLAMM to Work competition. Registration for young women as part of a teen- same bucket as people making ille- Mr. Gaudio believes Facebook closes on Friday, June 19. pregnancy prevention campaign. gal posts or porn,” said Executive thinks his company’s name is porno- Crain’s will announce the Medical marijuana may be legal in The group’s posts promoting re- Director Bhupendra Sheoran. graphic.“But,” he said,“our thought rankings at a special event on Friday, New York,but that didn’t stop Face- productive health can be “a little The owners of pet lifestyle bou- process on that is,the term ‘pussycat’ Dec. 4, and the winning firms will be book last week from banning a saucy,” he said, or at least more fun to tique Pussy & Pooch know what he’s has been around for a long time.” Ⅲ highlighted in a special feature in our Crain’s article on the subject from its read than standard public health mes- talking about. The company, which print edition on Monday, Dec. 7, as promoted news feeds. sages, but they’re often rejected by provides pet training and wellness LISTEN to a discussion at well as on our website. Like other news organizations, Facebook and, occasionally,Twitter. spas in Los Angeles,has been trying CrainsNewYork.com/podcasts Crain’s pays Facebook to push se- lected stories in users’ feeds, a pro- gram that has become a major source of traffic for publishers and Actually, our Green Team will do advertisers. But in an email, Face- book told Crain’s that it had “perma- most of the work for you. nently disabled” our account, writ- They’ll help make you more ing:“Ads are not allowed to promote energy efficient, profitable or facilitate illegal activity.” and competitive. In fact, one The “ad” in question was actual- of the few times you’ll have ly a post for our April 20 cover story to lift a finger is to dial our called “This is what legalized pot phone number, which is looks like in New York.” Crain’s 1-877-797-6347. Or visit us at had been promoting the medical- marijuana story on Facebook since it commercial.conEd.com. was published online April 19. Facebook ultimately restored the account, but the shutdown showed the difficulty the social network can have in discerning objectionable content, as well as the toll its mis- takes can take on businesses. “It’s really all run by machine, and the human oversight kicks in af- ter that,” said Greg Sterling, vice president of strategy and insights for the Local Search Association.“It’s a clunky and still-evolving process.” In fact, Facebook refused to al- low Crain’s to promote a companion piece to its cover story,“How a mar- ijuana plant becomes a pill,” which describes the process that creates the cannabis extracts that will be used by medical patients in New York state. These so-called boosted posts are marked as sponsored and can be targeted at audiences deemed most receptive to those articles or ads. That has made the program increas- ingly valuable to its users, especially because Facebook limits the num- ber of followers a publisher can reach for free. ‘Material impact’ on publishers Boosted posts also bring in ad WHO SAYS YOU dollars for Facebook while furthering the company’s goals of becoming a major partner to news organizations. “There are publishers and others who live and die by these syndication rules,and delays in handling improp- er takedowns can have a material im- pact on them,” Mr. Sterling said. HAVE TO EXPEND “[Facebook] needs to have some fine-grained tools or faster editorial intervention in these gray areas.” Facebook declined to comment, A LOT OF ENERGY but an executive familiar with the situation pointed out that marijua- na is the sort of highly sensitive top- ic that draws a lot of monitoring TO both from automated systems and SAVE IT? from actual people combing through the inventory. “This was human error,” the executive said. The Crain’s account was disabled for less than a day.For some business- es and organizations,however,there’s

May 4, 2015 | Crain’s New York Business | 7 20150504-NEWS--0008-NAT-CCI-CN_-- 5/1/2015 6:08 PM Page 1

OPINION CRAIN’S NEW YORK BUSINESS

Lessons from Baltimore editor in chief Rance Crain publisher, vp Jill R. Kaplan ny observer of recent events in Baltimore, the best outcomes, not ones that pay homage to unrealistic EDITORIAL executive editor Jeremy Smerd South Carolina, Missouri and indeed notions or a thirst for revenge. assistant managing editors Barbara Benson, To be sure, the city’s police and citizenry have made Erik Engquist New York City might reasonably ask why senior news producer Amanda Fung police are brutalizing African-American tremendous progress. Crime has plunged, and police fire copy desk chief Steve Noveck art director Carolyn McClain civilians, or why suspects don’t obey their weapons 10% as often as they did 40 years ago. We are staff photographer Buck Ennis police instructions, or why people react to not Baltimore, North Charleston or Ferguson. It is a major senior reporters Aaron Elstein, Matthew Flamm, Daniel Geiger, Adrianne Pasquarelli incidents by looting, destroying property reason businesses want to be here and are adding jobs in reporters Joe Anuta, Andrew J. Hawkins, and attacking officers. record numbers. Jonathan LaMantia news producer Emily Laermer It’s obvious that such behavior is wrong and But the deaths of Eric Garner and Akai Gurley at the editorial intern Carly Apar A editor at large Glenn Coleman counterproductive. But New Yorkers must venture beyond hands of the NYPD, and the unrest and assassinations that columnist Greg David that armchair perspective because it leads to narrow policies followed, reveal that the powder-keg dynamic in Baltimore contributing editors Tom Acitelli, Theresa Agovino, Paul Bennett, Erik Ipsen, and laws that assume people always act rationally. is present in New York Elizabeth MacBride, Judith Messina, Elaine Pofeldt, For example, we tend to reason that the threat of severe The powder-keg and requires attention. Miriam Kreinin Souccar, Cara S. Trager consequences will prevent abuses by police and criminality It is not enough to ADVERTISING advertising director Joanna Harp by civilians. An officer who uses excessive force or fixes some dynamic evident enforce laws, control senior account managers traffic tickets can lose his job and even his freedom, so if we protesters, discipline Jill Bottomley Kunkes, Rob Pierce in other cities account managers Zita Doktor, Stuart Smilowitz pay him well and give him a full pension after 20 years, we cops, diversify the sales coordinator LeAnn Richardson figure that he’ll follow protocol. A civilian who ignores the is present here police or clad officers credit manager Jason Hogan (313-446-0353) “park closes at dusk” signs or walks an unlicensed dog with body cameras. ONLINE AND INTERACTIVE SERVICES Rosemary Maggiore We need a general manager without his wallet can be immediately jailed and miss work, CUSTOM CONTENT, EVENTS AND PRODUCTION lose his job and be blacklisted by employers. So we trust that comprehensive crain’s 5boros general manager he will leave the park by sundown and carry ID and Fido’s approach that addresses Irene Bar-Am director of audience & content license, and won’t dare to commit more serious crimes. the roots of conflict, which experts now understand quite partnership development Michael O’Connor director of conferences & events The reality is that for a whole host of reasons—emotional, well and know how to treat. Parents can be taught to nurture Courtney Williams cultural, even biological—police and civilians alike behave in impulse control in kids; police can be trained to de-escalate events coordinator Adrienne Yee events coordinator & scheduler ways contrary to common sense and self-interest. But people confrontations on street corners.Those are just two of many Alexis Sinclair are products of their environment, and bad behavior is ways toward achieving mutual respect between police and reprint account executive Alicia Samuel production and pre-press director predictable. We must combat it with measures that achieve communities. It can be done, and must be. Simone Pryce media services manager Nicole Spell TO SUBSCRIBE: For print and digital subscriptions or customer COMMENTS service, e-mail [email protected] or call 877-824-9379 (in the U.S. and Canada) or 313-446-0450 (all other locations). $3.00 a copy for the print edition; or $99.95 one year, $179.95 two years, for print subscriptions with digital access. Bike share’s wheels have fallen off www.crainsnewyork.com/subscribe TO ADVERTISE: on us by people trying to justify for, then what solution can there Ms. Glen “hedged” when asked Contact Joanna Harp at [email protected] CITI BIKE IS A BUST or call 212-210-0278. their employment. Why face the be except to facilitate a fairer com- if she endorsed a recommendation www.crainsnewyork.com/advertise Re “Citi Bike Turnaround” (April uphill battle? Let’s speed downhill mercial rent policy—at least a re- by Manhattan Borough President 20): Great article. Just one thing. I and remove Citi Bike. It absolutely quired time period for negotiation Gale Brewer for “a mandatory, non- FOR INFORMATION ON OUR EVENTS: wish the Citi Bike share would fail does not work in New York. when a commercial lease expires? binding negotiation and mediation Contact Courtney Williams at [email protected] or 212-210-0257. once and for all. —danny kayton It has been glaringly obvious for period ... with the option of a one- www.crainsnewyork.com/events We need the streets returned to Upper East Side some time that without limits on year lease extension with no more residents and businesses. How the commercial rent increases, the than a 15% rent increase to give FOR INFORMATION ON CRAIN’S 5BOROS: Contact Irene Bar-Am at mayor ever allowed one organiza- ‘FUNKY’ STORES PRICED OUT trend of big-box stores swallowing business the opportunity to transi- [email protected] or 212-210-0133. tion to take over so many commer- up all interesting retail in one Man- tion to a new space smoothly.” A www.5boros.com cial and residential parking spaces I was taken aback by a jarring dis- hattan neighborhood after another residual benefit might be fewer TO CONTACT THE NEWSROOM: is insane.The result of bike share connect between the April 13 arti- is rapidly accelerating. (Priced out commercial spaces kept empty for 685 Third Ave., New York, NY 10017-4024 has only been unbearable conges- cle about lower Broadway’s Pearl this past week in my neighborhood: years after a priced-out tenant leaves editorial phone: 212-210-0277 tion from traffic jams. New York River Mart—an impressive ethnic, Westside Stationers and Golden as landlords await a bank or chain fax 212-210-0799 has harsh winters and lots of rain. mom-and-pop store with a 41- Nails, both with 30-plus years of store to create their new market rate. Entire contents ©copyright 2015 Crain Communications Inc. Why all these accommodations for year cultural contribution to the serving the community.) Ms. Brewer’s recommendation All rights reserved. ®CityBusiness is a registered trademark a non-revenue-generating program city—sadly being priced out of its Far more than just the “cool fac- is the game-changer so sorely need- of MCP Inc., used under license agreement. that is only functional at best six lease, and a quote in the same issue tor” is at stake—e.g., the soulfully ed. Without it, we risk our Man- CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS months of the year? What a waste from Deputy Mayor Alicia Glen: diverse and unquantifiable quality hattan neighborhoods becoming as chairman Keith E. Crain of prime space! Bike-docking sta- “We want to be the cool, funky of life that reflects our city’s unpar- uniform and unimaginative as our president Rance Crain treasurer Mary Kay Crain tions literally take full streets. New York that makes us the great- alleled international heritage as a current lack of vision, and blindsid- Cindi Crain I could understand if the pro- est city in the world.” Really? How microcosm of opportunity. At the ing both the cultural and economic executive vp, operations William Morrow gram were profitable to Citi Bike and when will we see to it? current pace of independent and diversity of this world-class city. executive vp, director of strategic or to the city. At the least, the rev- What changes will Ms. Glen ethnic retailers being priced out The potential losses we see operations Chris Crain enue could be used to fund desper- support to back up her suggested and replaced by ubiquitous banks around us are real and persistent. executive vp, director of corporate ately needed low-income housing. allegiance to unique retailers? If and chain stores, not even our cur- Is it too much to hope for that the operations K.C. Crain senior vp, group publisher David Klein New York City is not viable for her definition of funk has anything rent waves of tourists will want to powers that be will see that too lit- vp/production, manufacturing David Kamis this bike-share program as config- to do with soul-warming shops, shop and walk in our neighbor- tle, too late, is not an option? chief financial officer Thomas Stevens ured. Let’s work on the logistics restaurants and other small busi- hoods when they can more easily —fran seigel chief information officer Anthony DiPonio and rethink the entire program, nesses that reflect the cultural di- find these same mall shops closer Co-owner,Textile Gems founder G.D. Crain Jr. (1885-1973) which seems to have been thrown versity that New York is known to home or via their smartphones. Upper West Side chairman Mrs. G.D. Crain Jr. (1911-1996) secretary Merrilee Crain (1942-2012) CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 words or fewer to [email protected]. Please include the writer’s name, company, address and telephone number.

8 | Crain’s New York Business | May 4, 2015 20150504-NEWS--0009-NAT-CCI-CN_-- 4/30/2015 6:47 PM Page 1

LESLIE WHATLEY prepare their campus plans, which detail the space and land they’ve chosen. Start-Up NY’s first It was only a year ago that the first school plans were approved, and since then a total of 69 public year: the real story and private academic institutions statewide have joined. Another 18 are pending. I believe that’s an in- rior to accepting Gov. Andrew Cuomo’s appoint- credible level of participation, espe- ment to run Start-Up NY, I worked in the real es- cially since none of the schools re- ceived any additional resources, and tate and finance industries for 30 years at three For- most are new to business relation- tune 100 firms. In the private sector, I was ships with private companies. responsible for location strategy, and only a few States need economic-incentive years ago, if I were to pitch New York state for a new business programs to stay competitive. Here P in New York, we are utilizing vacant location,I would have been laughed out of the room.But today, space and land to generate new eco- thanks to the tireless work of the governor, as well as Start-Up nomic activity. Start-Up NY com- panies are working with universities NY and our efforts to change the But even so,in just a short time— to conduct research and create em- perception of the Empire State na- less than a year—110 companies ployment opportunities. As a result, tionwide, executives are taking New have joined the program, including New York now has a competitive ad- York seriously. dozens that are brand-new or are re- vantage. As a businessperson, it’s hard to locating from other states or from We understand that it will take understand some of the criticism of abroad. Just since January,we’ve ad- time for these companies to expand this program in the media. The mitted almost 60 companies. They and open new facilities. We’re not expectations are unrealistic. New have already committed to creating focused on a chorus of complaints economic-incentive programs do more than 3,100 jobs while invest- from critics who don’t offer any of not go from inception to full imple- ing more than $186 million across their own solutions. We’re busy cre- mentation overnight. A significant the state. That is a remarkable ating jobs for New Yorkers by investment in time was necessary achievement by any standard. strengthening and diversifying the to transform the enabling legisla- New York’s world-class system economy of the Empire State. tion into an actual economic- of colleges and universities are at the development program with a strong heart of the program. It was funda- Leslie Whatley is Empire State foundation, which is critical to its mental in the first year to get the Development’s executive vice president long-term success. universities on board and help them for Start-Up NY.

for the local market, especially the artisanal small-company rebirth City progressives’ taking place in neighborhoods in Brooklyn. In fact, the lack of an agreement logic-free zone could send some jobs overseas. At a business writers’ conference in Chicago last month, Commerce n Washington, President Barack Obama is using all his Secretary Penny Pritzker told the remaining prestige to persuade Congress to allow him story of an American company that makes mirrors for hotels. to negotiate a free-trade agreement with 11 nations Its customers are entering mar- touching the Pacific not named China. He argues that kets like Vietnam, which imposes a lowering tariffs and protecting the interests of Ameri- 30% tariff on mirrors from the U.S. can companies in a Trans-Pacific Partnership will help the U.S. But there is no duty there on mirrors I made in China. So the hotels it economy. In particular, he says, it will be a counterweight to works with are urging the company China’s growing economic clout in the region. to move its manufacturing to Chi- na, which it may do without an In New York, the City Council agreement. passed a resolution opposing any The key for New York is that an such arrangement, declaring the agreement would reduce barriers to city a “TPP-free zone.” Mayor Bill doing business in TPP countries for de Blasio denounced the trade companies in finance, media, tech- agreement as a “raw deal.’’ nology, professional services and Taking their cue from labor real estate. Such services already ac- unions, they say the pact would count for $32 billion of the state’s eliminate millions of American exports, or 58%. TPP would also jobs. One councilwoman claimed it force members to respect patents could invalidate New York City laws and copyrights, a major benefit for protecting workers and the environ- the city’s drug and media compa- ment. nies. (One reason some progressives Her claim is absurd, of course, GREG DAVID oppose the deal is that they would but the TPP is an example of how so like to diminish those corporate many politicians, especially pro- protections in the U.S.) gressives,don’t understand the city’s the products that once were made in Finally, free trade is crucial for a economy. the U.S.—eliminating millions of global business center like New In many ways, the TPP contro- jobs here. York, which thrives on the foreign versy is a clash of worldviews. Most This time, it seems highly un- companies that establish operations economists and businesspeople be- likely that TPP would do away with here and invest here. Companies lieve global trade improves the millions of factory jobs, which at based in Britain, France, Switzer- economy by pushing countries to this point have survived successive land, Canada and Japan employ a specialize in what they do best. La- waves of foreign imports.This is es- quarter-million workers in New bor unions and progressives like the pecially true in New York City, York state. mayor see only the local losses, as where the remaining 75,000 manu- At least the president has the in- workers in foreign countries make facturing workers turn out products terests of the city at heart.

May 4, 2015 | Crain’s New York Business | 9 20150504-NEWS--0010-NAT-CCI-CN_-- 4/30/2015 6:47 PM Page 1

IN THE BOROUGHS BROOKLYN

Curiously, rather than viewing it’s healthy to have more co-ops,”said the fledglings as dangerous com- Ann Herpel, general coordinator of Boro’s food co-ops petitors and trying to beat them the Park Slope Food Co-op. back, the Park Slope co-op has em- Facing a growing paucity of food Continued from Page 4 co-op. To date, it has drawn 200 braced them. It has offered educa- shopping options, many Windsor Brooklyn in the past seven years, fol- members, about a quarter of whom tional help on how to resolve start- Terrace residents would happily set- lowing in the pioneering footsteps of are also members of the Park Slope up glitches, as well as financial tle for more grocery stores of any de- the borough’s biggest and best- co-op on the far side of the park but assistance. With 16,600 members, scription. In fact, the push for the known member of the species, the don’t want to lug their groceries 18 the doyen of the industry can well area’s new store grew out of the 42-year-old Park Slope Food Co-op. blocks if they can help it. afford such largesse in support of much-publicized closure three years “We need communities to be what it views as healthier lifestyles. ago of a Key Food grocery at 589 Taking control able to access food that they can af- Today, the Park Slope co-op has Prospect Ave. to make way for a Another arrival came late last ford,” said Ms. Oh. “There have grown to 6,000 square feet of selling Walgreens drugstore. year, just east of Prospect Park. been more conversations over the space,plus 14,000 square feet that in- Residents protested the switch GREENS SCENE: There, after five years of planning, past five years about income and cludes a dedicated area for child care long and hard enough to persuade Windsor Terrace’s graphic designer Karen Oh, who health disparities and access to food, as well as office and storage space. Chicago-based Walgreens to share first food co-op

lives in Prospect Lefferts Gardens, and that’s why communities want to “The population of Brooklyn is its space with a new, smaller Key pasquarelli adrianne debuted her neighborhood’s first take control.” growing and is so dense that we think next door, but after repeated delays a store has yet to open. Meanwhile, with each passing week, an average of 10 more neigh- borhood residents sign up for the co-op instead. That is on top of the 300 Brooklynites who registered before the Windsor Terrace enter- prise even opened its doors on March 21 and 200 since then. Community center Jack O’Connell, the Windsor Terrace cooperative’s chairman and a 30-year resident of the area, ex- pects that by year’s end at least 750 people will be paying the $100 one- time membership fee for the privi- lege of being able to purchase the Adam Benesch & co-op’s organic parsnips, kale and Jon Zerivitz eggs,and to do something else in the CO-FOUNDERS UNION CRAFT BREWING bargain—catch up with their neigh- bors. Helped by the requirement that all members work in the shop for an hour and 45 minutes every four weeks, the co-op has already taken on the mantle of a communi- ty gathering place for a neighbor- Pouring everything hood in transi- tion. “Windsor 2 Terrace has NUMBER OF FOOD into a dream. evolved a lot CO-OPS opened in the past six months over the last 10 in central Brooklyn years as new people and young families $100 have moved in,” ONE-TIME said Mr. MEMBERSHIP FEE Understanding O’Connell. at the Windsor “They have a lot Terrace co-op of energy, and what’s important. there was no place for these new ar- rivals to come, no central point in the community.” He and other organizers spent about two and a half years organizing the effort for a new communal store, The founders of Union Craft Brewing came to us in 2012 with little more than an interesting idea and a passion for craft beer. but it wasn’t until they found the space—a former health spa specializ- Together, we identified what needed to be done to get their business off the ground – and their beer into glasses. We’ve since ing in colonics and featuring three bathrooms—that the plan came to- helped them grow to employ a staff of 15. And their dreams are only getting bigger. Our eagerness to help businesses like gether. Though the $1,500 monthly Union Craft Brewing is why M&T’s a top SBA lender1 in the nation and why we’ve been recognized by Greenwich Associates asking rent is higher than he’d hoped to find, it qualifies as a bargain com- for excellence in small business banking.2 Find more of Union Craft Brewing’s story at mtb.com/businessbanking. pared with similar-size spaces near- by renting for $5,000 a month. Mr. O’Connell is now working on upgrading the store—last month, he ordered a second refrigerator,and he recently installed about four dozen dry-goods bins donated by a co-op in Delaware. Of course, the produce sells well, but eggs have also been a top performer—60 dozen are LENDING SOLUTIONS | MERCHANT SERVICES | TREASURY MANAGEMENT | DEPOSITORY SERVICES sold each week. “This is a co-op experience,” said 1According to statistics released by the U.S. Small Business Administration (SBA) for total approved loans through the SBA’s 7(a) lending program during the federal fiscal year ending 9/30/2014. Mr. O’Connell, who is building his 2Based on the 2014 Greenwich Excellence Awards in Small Business Banking. operating infrastructure and hopes to ©2015 M&T Bank. Member FDIC. hire some part-time paid employees. “It’s a bit more than just shopping.”

10 | Crain’s New York Business | May 4, 2015 20150504-NEWS--0011,0012-NAT-CCI-CN_-- 4/30/2015 6:48 PM Page 1

REAL ESTATE INSIDE The List Largest real estate financings in New York City PAGE 13 ‘You don’t know you like New York until you try to do something outside the city’ REPORT —Lisa Gomez, L+M Development Partners, on L.I. projects, Page 14 Design within overreach Nice to look at, but cost overruns, mission creep can undercut ‘affordable’ claims SUGAR HIGH ARCHITECTURAL BY JOE ANUTA RECORD: David Typical per-unit price for Adjaye’s critically Back in November, officials from the de Blasio administration cut the ribbon on an affordable- affordable housing in NYC acclaimed Sugar Hill vs. Sugar Hill Development Development on West housing development designed by renowned British architect David Adjaye in Manhattan’s 155th Street has sent Sugar Hill neighborhood. Cue the fanfare:The building’s unique,cantilevered design,along per-unit prices for $550,000+ affordable-housing with its ground-floor school and children’s museum, landed it on a news website’s list of construction to new “11 projects that prove affordable housing can be beautiful.”It was hailed by New York heights. <$400,000 magazine as “the kind of high-design, low-cost housing that the city needs.” Actually,it’s becoming clear how high the cost of high design can reach for taxpayers. The nonprofit that built what’s called the Sugar Hill Development has asked the City Council to cover $4 million in

construction cost overruns on the now $70 million residential Citywide Sugar Hill portion of the building, bringing the per-unit price to more than $550,000. The 124-unit structure is one of several financed under the Bloomberg administration that have gone well beyond the average cost for affordable housing in the city, which industry experts say has rarely exceeded $400,000 per unit. On the one hand, the projects have delivered benefits that are highly desired by many communities across the city, from preserving historic architecture to opening early-childhood education centers. Yet they also raise the question of how much Mayor Bill de Blasio should tap into scarce dollars for See DESIGNER on Page 12 buck ennis

May 4, 2015 | Crain’s New York Business | 11 20150504-NEWS--0011,0012-NAT-CCI-CN_-- 4/30/2015 6:48 PM Page 2

REPORT REAL ESTATE

live/work spaces for artists and their be used to pay the lion’s share of the affordable-housing world, who did families, but also a 10,000-square- tab has been simmering in City Hall not want to be named because they do foot community center and the revi- for years. business with the city,argue that sub- Designer duds talization of a handsome but decay- stantial housing money should not be In September 2010, Rafael Ces- ing neighborhood anchor. tero, then the city’s housing commis- used for unrelated agendas at the ex- Continued from Page 11 Operating Officer Mary Ann Villari Indeed, the local councilwoman, sioner, warned at a policy breakfast pense of building more units. Al- housing to fulfill his other policy said in a statement. “Construction Melissa Mark-Viverito, who is now that escalating design costs for a though the mayor has doubled the goals—more union construction,for costs were higher than anticipated.” City Council speaker, emphasized handful of affordable projects were capital budget for affordable housing, instance, or environmental sustain- Yet design elements such as Mr. the cultural benefits of El Barrio’s upsetting the balance between quali- federal subsidies are on the decline. ability. All this as he seeks to create Adjaye’s irregular façades of granite- ArtSpace over the housing.“This in- ty and quantity, according to a num- One such stream, called Home 80,000 units of affordable housing hued concrete and his cantilevered novative project will help solidify El ber of people in attendance.(Mr.Ces- funds, which are used heavily by by 2024 in the nation’s most expen- upper portion of the building helped Barrio/East Harlem’s place as a cul- tero, now an executive at nonprofit HPD, has been slashed to $52 mil- sive construction market. push the price tag so high that the tural destination that celebrates the housing developer CPC Resources, lion this year from $117 million in “The city has limited resources to project skewed the per-unit average arts and the incredible contributions declined to comment for this story.) 2006, according to a Crain’s report. build affordable housing, but it also for all low-income rental develop- that artists make to our community,” “When people attack affordable- needs to think about the value of ur- ments in the city in 2012. she said in a 2012 press release. 124 apartments, 48,000 applicants housing money, they point to these ban design, even if it adds to costs,” Supporters say the eye-catching In the Bronx, a 222-unit housing The demand for affordable apart- expensive projects,” said one expert said Mark Willis, executive director architecture leveraged $14 million in complex called Via Verde was the ments is clear: 48,000 families ap- who did not want to be named. of New York University’s Furman philanthropic dollars to help build a winner of a highly publicized, city- plied for Sugar Hill’s 124 apart- In 2010, for instance, U.S. Sens. Center for Real Estate and Urban local cultural attraction. “Sugar Hill sponsored design competition that ments, for example. And the money John McCain and Tom Coburn Policy.“Striking the right balance be- represents a good investment for eventually came in at $441,000 per spent on projects such as ArtSpace drew up a list of what they deemed tween more housing units and fitting taxpayers who’ve received in return a unit, according to an August 2013 could have produced more units else- wasteful spending projects using buildings into the fabric of the com- museum and an early-childhood ed- study by consulting firm HR&A Ad- where.The ArtSpace renovation cost federal stimulus money. Artist resi- munity falls into a bit of a gray area.” ucation center in addition to afford- visors. The project, in Melrose, fea- twice as much per unit but was half dences in Philadelphia and a pricey From the outset, the 13-story able housing,” said William Traylor, tures a combination of cooperative the size of an ecofriendly,ground-up affordable-housing project in up- Sugar Hill Development was des- who helped arrange the financing and rental units for low- and middle- Brooklyn project called Dumont state New York both made the cut. tined to be costly for Broadway with tax credits and grants from the income residents, along with rooftop Green that the city funded in 2011, In the 16 months since Mr. de Housing Communities, a nonprofit city, state and federal governments. greenery, solar panels and LEED according to the 2013 HR&A study. Blasio took office, construction and that had previously done only reno- A similar story can be found at an Gold certification.It opened in 2012. “Our mission is to create neigh- land costs have risen dramatically as vation jobs. The steeply graded site affordable-housing project farther Although these buildings and borhoods, and sometimes the op- the economy has recovered. on West 155th Street presented lo- south in Harlem’s El Barrio called others have proved popular in their portunity to do a unique project can So although repurposing historic gistical hurdles, and construction ArtSpace P.S. 109. There, a largely communities and have delivered help build momentum and create a buildings and creating cultural and crews received prevailing wages. publicly financed renovation of a for- more than just affordable apart- sense of place and identity,” a De- educational institutions are laudable “Sugar Hill was a challenging mer public school cost nearly ments—leveraging a fraction of their partment of Housing Preservation goals,Mr.de Blasio will have to take project—featuring 100% affordable $550,000,about the same as the new- construction costs from the art, sus- and Development spokesman said, a hard look at focusing his housing housing, an early-childhood center ly built Sugar Hill. But supporters tainability or philanthropic worlds in noting that these projects are a frac- money on housing if he wants to hit and a cultural institution—on a dif- noted at its 2012 groundbreaking that the process—a debate on whether tion of the department’s output. a lofty benchmark in an increasing- ficult site,”Broadway Housing Chief it would yield not only 89 affordable scarce public housing dollars should But a number of experts in the ly crowded and expensive city. Ⅲ

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12 | Crain’s New York Business | May 4, 2015 20150504-NEWS--0013-NAT-CCI-CN_-- 4/30/2015 6:49 PM Page 1

THE Real Capital Analytics’ Largest NYC Financings LIST Ranked by loan amount, from January 2014 through April 2015

Address/ Loan amount Transaction Rank property location (in millions) type Date Borrower(s) Lender THE TOP

388-390 Greenwich St. (Citigroup headquarters) $1,450.0 Sale 5/15/14 SL Green Citigroup FOUR 1 TriBeCa 200 Park Ave. (MetLife Building) $1,400.0 Refinance 2/26/15 Irvine Co./Tishman Speyer Bank of America 2 Midtown east 1095 Sixth Ave. $1,300.0 Sale 1/15/15 Caisse de Depot/ Wells Fargo 3 Midtown west Callahan Capital Partners 611 Fifth Ave. (Saks Fifth Avenue) $1,250.0 Refinance 12/3/14 Hudson’s Bay Bank of America 4 Plaza district 401 Ninth Ave. (1 Manhattan West) $1,250.0 Refinance 4/14/15 Brookfield Asset Management Wells Fargo 4 Midtown west 730 Fifth Ave. (Crown Building) $1,000.0 Sale 12/19/14 Jeff Sutton/GGP Deutsche Bank 6 Plaza district 1114 Sixth Ave. (Grace Building) $900.0 Refinance 3/21/14 Brookfield Asset Management/ Deutsche Bank Midtown west Swig Co. 7 LIST RANK 1 277 Park Ave. $750.0 Refinance 7/4/14 Stahl Real Estate Deutsche Bank 8 Midtown east ADDRESS 388-390 Greenwich St. 10 Columbus Circle (Time Warner Center) $675.0 Sale 1/16/14 Related Cos./GIC Deutsche Bank 9 Columbus Circle (Government of Singapore) LOAN AMOUNT 520 Madison Ave. $675.0 Refinance 5/30/14 Tishman Speyer/ Bank of America $1.45 billion 9 Plaza district Henry Crown & Co. 220 Central Park South $600.0 Refinance 1/31/14 Vornado Realty Trust Bank of China Ltd. 11 Columbus Circle 2 Penn Plaza $575.0 Refinance 12/8/14 Vornado Realty Trust HSBC Holdings 12 Midtown west 65 E. 55th St. (Park Avenue Tower) $560.0 Sale 7/31/14 Blackstone Deutsche Bank 13 Plaza district 563 11th Ave. (Atelier II) $539.0 Refinance 8/4/14 Moinian Group Union Labor Life 14 Midtown west 65 E. 55th St. (Park Avenue Tower) $530.0 Sale 4/2/14 Grocon Citigroup 15 Plaza district 150 E. 42nd St. $525.0

Sale 8/31/14 David Werner Real Estate/ Morgan Stanley bloomberg news 16 Midtown east 601W Cos. LIST RANK 2 701 Seventh Ave. (future Times Square Gateway Center) $500.0 Refinance 1/14/14 Winthrop Realty Trust/ Starwood Property Trust 17 Midtown west Witkoff Group ADDRESS 200 Park Ave. 1 West End Ave. (Riverside South) $500.0 Refinance 1/6/15 Delek Group, Silverstein Properties Wells Fargo 17 Upper West Side LOAN AMOUNT 401 W. 31st St. (Ninth Avenue development site, residential) $479.0 Refinance 12/18/14 Brookfield Asset Management Bank of China Ltd. $1.4 billion 19 Midtown west 1 Wall St. (BNY Mellon headquarters) $460.0 Sale 9/30/14 Macklowe Properties Deutsche Bank 20 Financial district 250 E. 57th St. $450.0 Refinance 2/19/14 World Wide Group/ Starwood Property Trust 21 Plaza district Rose Associates Inc. 520 Park Ave. $450.0 Refinance 10/29/14 Zeckendorf Realty Children’s Investment Fund 21 Plaza district 345 Park Ave. $425.0 Refinance 1/7/14 Rudin Organization Prudential Real Estate Investors 23 Plaza district 1500 Broadway (Times Square Plaza) $425.0 Refinance 10/10/14 Tamares Group Citigroup 23 Midtown west 625 W. 57th St. $411.5 Refinance 10/29/14 Durst Fetner Wells Fargo 25 Midtown west LIST RANK 3 120 Park Ave. (Altria Building) $400.0 Refinance 3/20/14 Global Holdings HSBC Holdings 26 Midtown east ADDRESS 450 W. 33rd St. (5 Manhattan West) $400.0 Refinance 7/9/14 Brookfield Asset Management Wells Fargo 1095 Sixth Ave. 26 Midtown west LOAN AMOUNT 140 West St. (Verizon headquarters condo) $390.0 Refinance 2/5/15 Magnum RE Group/CIM Group iStar Financial $1.3 billion 28 Financial district 602 W. 57th St. (AvalonBay West 57th Street) $384.0 Refinance 11/5/14 TF Cornerstone Wells Fargo 29 Midtown west 100 Park Ave. $360.0 Refinance 2/28/14 UBS DekaBank 30 Midtown east 1177 Sixth Ave. (Americas Tower) $360.0 Sale 10/17/14 Clipper Equity Deutsche Bank 30 Midtown west 50 Murray St $360.0 Sale 12/15/14 Blackstone Deutsche Bank 30 TriBeCa 909 Third Ave. $350.0 Refinance 2/28/14 TIAA-CREF/Forest City Ladder Capital Finance 33 Plaza district 8 Spruce St. (New York by Gehry) $350.0 Refinance 10/3/14 SL Green/Prudential Real Bank of America 33 Financial district Estate Investors 45 E. 22nd St. $340.0 Refinance 10/6/14 Vornado Realty Trust Goldman Sachs LIST RANK 4 (tie) 35 Flatiron district ADDRESS Data are based on publicly reported lending activity for the period from Jan. 1, 2014, through April 16, 2015. Includes first mortgages made for acquisitions and refinancings on properties and portfolios of $2.5 million and greater; excludes seller 611 Fifth Ave. financing, mezzanine financing and land loans. In case of tied figures, deals are listed in order of transaction date. Real Capital Analytics Inc. is an independent research firm focused exclusively on capital investment markets for commercial real estate. RCA offers comprehensive information on activity in the industry. In addition to collecting transactional information for property sales and financings, it interprets the data, including capitalization rates, market trends and sales volume. The LOAN AMOUNT firm publishes a series of Capital Trends reports and offers an online service that provides real-time, global transactional market information. Visit www.rcanalytics.com. Additional research by Emily Laermer. $1.25 billion

May 4, 2015 | Crain’s New York Business | 13 20150504-NEWS--0014-NAT-CCI-CN_-- 4/30/2015 6:49 PM Page 1

REPORT REAL ESTATE A surprising solution for city’s

housing dilemma: the burbs ROCKVILLE ROCKS: Jessica Ehlen likes the many cafés and bars towns and villages on Long Island land Rail Road have a say in planning near her LIRR station in More multifamily alone wield tight control over the decisions, convincing one is no guar- Rockville Centre. “This units along rail lines planning of new apartments.Forging antee of getting a large-scale project town is young and hip— a regional agreement with them— approved. it’s awesome,” she said. hold key, but politics much less municipalities in New Jer- “You don’t know you like New sey and Connecticut that compete York until you try to do something and red tape in way with the Empire State for jobs and outside the city,” Lisa Gomez, chief buck ennis residents—would be a Nobel-worthy operating officer at L+M Develop- Jessica Ehlen, a geologist, lives company to redevelop aging subur- BY JOE ANUTA exercise in diplomacy. ment Partners, said of construction there with her fiancé.Their place is a ban downtowns across the tristate “We have our own needs and projects on Long Island. “It is a 10-minute walk to the LIRR, which area, and has a pipeline of nearly There’s an inconvenient truth challenges, and we can’t absorb the mishmash of overlapping jurisdic- she rides into Manhattan most 1,500 units in the works from Stam- tucked into the environmental sus- city’s,” said Westchester County tions—cities, counties and towns weekdays, and dozens of restaurants, ford, Conn., to Glen Cove, L.I. tainability plan for New York that Executive Rob Astorino after City [without] aligned objectives.” bars and cafés are now clustered near RXR is also the designated master Mayor Bill de Blasio unveiled last Planning Commissioner Carl But change is afoot.The same in- her suburban train station. developer in several suburban down- month: The city needs the suburbs Weisbrod first floated the idea at a equality that Mr. de Blasio is fight- “It is just too congested in the city towns with the potential to host thou- to solve its housing problem. March Crain’s forum. ing has spurred a handful of Long for me,” she said. “But this town is sands more apartments that could of- With rents soaring and too few Island towns to relax zoning regula- young and hip—it’s awesome.” fer housing for New Yorkers getting new apartments in the works for the The vertical wall tions to allow for taller apartment priced out of the city. city’s growing population, low-rise Many local governments don’t complexes.The pleasant result: new ‘Happening organically’ But first, Mr. de Blasio and sub- communities beyond the five bor- want denser development, and they businesses in old downtowns and an A handful of burgs on Long Is- urban leaders must take a big step in oughs hold vast potential for multi- turn those wishes into law through influx of residents looking for walk- land and elsewhere have followed the coming months: actually com- family housing along the veins of zoning codes that govern the size able communities outside Gotham. suit.Even de Blasio critic Mr.Astori- municating with one another. the region’s public transit network. and shape of new buildings. “Some of the areas that have been no held a town-hall meeting in late “It is really important that [the de “Addressing housing challenges “Whenever you talk about going touted as the greatest successes were April to discuss the potential of de- Blasio administration] started this will require collaborative action,” vertical—anything over three sto- communities that were having seri- veloping Westchester’s downtowns conversation, which is not an easy the mayor’s OneNYC plan states. It ries—they start talking about ous financial problems,” Mr. into transit-oriented communities. one to have,” said Christopher Jones even describes a new unit within the ‘Queensification,’”said engineering Cameron said. “They were willing “I think this is something that is of the Regional Plan Association. city’s planning agency that would executive John Cameron, who also to take risks.” happening organically,” observed “There may not be a clear endgame work with other local governments is chairman of the Long Island Re- And many are looking toward Seth Pinsky, a former head of the in mind, but [the region] has a lot of on housing issues. gional Planning Council. successful downtowns such as city’s Economic Development Corp. common problems and common in- The problem? More than 100 And because multiple municipal- Rockville Centre,L.I.,where Avalon Now an executive at RXR Realty, terests, and it is important to start such governments in counties, cities, ities along the stops of the Long Is- Bay built a large apartment complex. Mr. Pinsky is leading a push by his talking about them.” Ⅲ

signatories MOVING YOUR COMPANY? Jerrold Nadler, U.S. Representative Adriano Espaillat, State Senator Letitia James, New York City Public Advocate Read this letter from elected officials first. Ruben Diaz, Jr., Bronx Borough President Eric Adams, Brooklyn Borough President Gale Brewer, Manhattan Borough President Local leaders suggest Moving Forward movers because they’re backed by Local 814 quality labor: Members of the New York City Council: Inez Barron Corey Johnson Costa Costantinides Ben Kallos Elizabeth Crowley Rory Lancman Rafael Espinal Brad Lander Daniel Garodnick Stephen Levin “We applaud Moving Forward and Local 814 for their efforts to promote Vanessa Gibson Antonio Reynoso higher standards of quality and security for all commercial moving companies, Mario Cilento, New York State AFL-CIO and for working to ensure middle class wages and benefits for all workers.” President Bill Lipton, New York State Director of the May 4th, 2015 Working Families Party Vincent Alvarez, New York City Central Labor Council AFL-CIO George Miranda, Teamsters Joint Council 16 President “We strongly encourage any company in need of a commercial mover to look no further than the companies who are affiliated with these organizations.” moving forward affiliated companies May 4th, 2015 A & N Installation, Inc.࠮ Accurate Moving Systems ࠮ BDI ࠮ Capital Moving ࠮ Central Moving & Storage ࠮ *LY[PÄLK4V]PUNHUK:[VYHNL࠮ Clancy-Cullen ࠮ * :+LSP]LY`HUK9LSVJH[PVU ࠮ +)9*VUZ\S[HU[Z࠮ Eagle Transfer ࠮ Elate Moving Read the full letter at http://www.movingforwardny.com ࠮ Globe Storage & Moving ࠮ /\KZVU9P]LY Moving & Storage ࠮ 0U[LYPVY9LZV\YJLZ.YV\W ࠮ UMC Moving ࠮ V. Santini

14 | Crain’s New York Business | May 4, 2015 &XVKPDQ :DNHÀHOGis NYC’s #1 Building Sales Firm for the 14th Consecutive Year TM

Every Building. Every Detail.TM

# Transactions ’01-’14 CUSHMAN & WAKEFIELD, INC. 3,668 Marcus & Millichap 1,106 Besen & Associates, Inc. 826 GFI Capital Resources Group, Inc. 719 Eastern Consolidated 718 Rosewood Realty Group 455 Capin & Associates 372 Douglas Elliman 346 Newmark Grubb Knight Frank 327 CBRE 319 Eastdil Secured 235 The Corcoran Group 231 Greiner-Maltz Company, Inc. 175 .DOPRQ'ROJLQ$IÀOLDWHV,QF 169 Itzhaki Properties 165 TerraCRG 157 Lee Odell Real Estate, Inc. 149 Ariel Property Advisors 146 Sholom & Zuckerbrot Realty, LLC 95 Jones Lang LaSalle 86 Friedman-Roth Realty Services, LLC 84 Weissman Realty Group, LLC 82 Swig Equities, LLC 79 Pinnacle Realty of New York, LLC 71 CPEX Real Estate 68 Total Transaction Volume (Brokers on Chart) 10,848

Based on # of Transactions (All Sales $500,000 and Over)

nyinvestmentsales.com P016-17CL_CN_20150504.qxp 5/1/2015 1:11 PM Page 16

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR EMAIL [email protected] POSITIONS PUBLIC & LEGAL NOTICES AVAILABLE Notice of Qualification of Notice of Formation of Denise Bethel Notice of Application for Authority of Notice of Qualification of Bristol Williamsburg Portfolio IV, LLC. LLC. Arts. of Org. filed with Secy. of InstaSpace, LLC filed with the Secy. of Industries, LLC. Authority filed with NY Management: Taxi Tours Inc. seeks an Assistant Authority filed with NY Dept. of State State of NY (SSNY) on 2/24/15. Office State of NY (SSNY) on 3/2/15. Formed Dept. of State on 4/8/15. Office location: General Manager for our New York, NY office to on 1/29/15. Office location: NY County. location: NY County. SSNY designated in PA 2/28/13. Office loc.: New York NY County. LLC formed in AK on oversee business operations by effectively man- LLC formed in DE on 1/23/15. NY Sec. as agent of LLC upon whom process County. The SSNY is designated as 5/11/05. NY Sec. of State designated aging all aspects of the business. Requires a of State designated agent of LLC upon against it may be served. SSNY shall agent of LLC upon whom process agent of LLC upon whom process Bachelor’s degree or equiv. in Finance, Business whom process against it may be mail process to: c/o Cahill Partners LLP, against it may be served. The address against it may be served and shall mail Administration, or related field and 6 years related served and shall mail process to: c/o 70 W. 40th St., NY, NY 10018, Attn: Denise SSNY shall mail copy of process to and process to: c/o CT Corporation System, (progressive, post-baccalaureate) experience. CT Corporation System, 111 8th Bethel. Purpose: any lawful activity. the office address required to be 111 8th Ave., NY, NY 10011, regd. Must have exp. with utilizing GAAP and IFRS to Ave., NY, NY 10011, regd. agent maintained in PA is 550 Spencer Lane, agent upon whom process may be upon whom process may be served. Warminster, PA 18974. Cert. of served. AK and principal business efficiently manage budgets and conducting ROI Notice of Formation of Rome Pays Off, DE addr. of LLC: The Corporation Trust LLC, Art. Of Org. filed with Sec. of State Organization filed with Carol Aichele, address: 111 W. 16th Ave., Ste. 400, analysis; conducting internal audits of accounts Co., 1209 Orange St., Wilmington, DE Secy. of State, 401 North St., Room Anchorage, AK 99501. Cert. of Org. payable/receivables, payroll, and other financial (SSNY) on 3/6/2015. Office location: 19801. Cert. of Form. filed with DE Sec. NY County, SSNY designated as agent 206, Harrisburg, PA 17105. Purpose: filed with Commissioner, 333 functions and providing guidance on external of State, 401 Federal St., Dover, DE of LLC upon whom process against it Any lawful activity. Willoughby Ave., 9th Fl., Juneau, AK audits; managing the full scope of office adminis- 19901. Purpose: all lawful purposes. may be served. SSNY shall mail copy 99801. Purpose: all lawful purposes. tration, including human resources, payroll taxes of process to 44 W. 18th St., 8th Floor, Notice of Qualification of Waterside and regulations, logistics, customer service, and Notice of Formation of HASKELL NY,NY 10011.Purpose:any lawful activity. Drive Investments, LLC. Authority filed Keith P. Johnson, M.D., PLLC. Articles commercial insurance; performing detailed con- CAPACITY BROKERAGE, LLC Arts. of with NY Dept. of State on 4/15/15. of Org. filed Sec. of State (SSNY) on tract review to mitigate corporate risk and prepar- Org. filed with Secy. of State of NY Office location: NY County. Princ. bus. 4/3/15. Office: 314 W. 14th St., 6th Fl., NOTICE OF FORMATION of KISSINGWELL ing reports required by regulatory agencies; (SSNY) on 03/10/15. Office location: NY addr.: 60 E. 56th St., 9th Fl., NY, NY New York, NY, 10014, NY County. SSNY DIGITAL LLC. Arts. of Org. filed with preparing, analyzing, and presenting financial County. SSNY designated as agent of 10022. LLC formed in DE on 3/30/15. desig. agent of LLC upon whom process Secy of State of NY (SSNY) on reports to senior management, including cash LLC upon whom process against it NY Sec. of State designated agent of may be served. SSNY shall mail copy 04/21/15. Office location: NY County. may be served. SSNY shall mail process LLC upon whom process against it may of process to Nixon Peabody LLP, 677 flow, budget variances and actual financial per- SSNY designated as agent of LLC upon to the LLC, 100 William St., Ste. 1850, NY, be served and shall mail process to: Broadway, Albany, NY 12207. Purpose: formance, balance sheet, accounts receivable, whom process against it may be served. NY 10038. Purpose: Any lawful activity. c/o CT Corporation System, 111 8th Practice of medicine. and accounts payable; sales forecasting, monitor- SSNY shall mail process to the LLC, Ave., NY, NY 10011, regd. agent upon ing financial performance, and reporting to cross 205 W. 54th St., Ste. 6G, NY, NY 10019. whom process may be served. DE addr. Notice of formation of Flat World LLC. functional business leaders within a multinational 36 EAST 64TH STREET LLC. Art. of Org. Purpose: Any lawful activity. of LLC: 1209 Orange St., Wilmington, Arts of Org filed with Secy. of State of company; and developing and managing an filed with the SSNY on 03/10/15. Office: DE 19801. Cert. of Form. filed with DE New York County. SSNY designated as NY (SSNY) on 02/09/2015. Office annual business plan and competitive analysis Notice of Qual. of 257 Park Avenue Sec. of State, 401 Federal St., Dover, agent of the LLC upon whom process location: NY County. SSNY designated and identifying risk/opportunities in the work South Fee Owner, LLC, Auth. filed Sec’y DE 19901. Purpose: all lawful purposes. against it may be served. SSNY shall mail agent upon whom process may be process and/or financial models. Employer will of State (SSNY) 12/11/14. Office loc: copy of process to the LLC, c/o Gunter served and shall mail copy of process accept experience gained concurrently. Email NY County. LLC org. in DE 12/10/14. MASS INCARCERATION PROJECT Frangenberg, 141 East 56th Street, #9H, against LLC to principal business resume to [email protected] SSNY desig. as agent of LLC upon LLC. Art. of Org. filed with the SSNY on New York, NY 10022. Purpose: Any address: 325 W 45th St, 311, New York, whom proc. against it may be served. 03/31/15. Office: New York County. lawful purpose. NY 10036. Purpose: any lawful act SSNY shall mail copy of proc. to Feil SSNY designated as agent of the LLC International Market Analyst, Vertical Markets upon whom process against it may be Org., 7 Penn Plaza, NY, NY 10001. DE Notice of Formation of trampoLEAN Twitter, Inc. seeks International Market NOTICE OF FORMATION of VICOPA served. SSNY shall mail copy of process office addr.: CSC, 2711 Centerville Rd., LLC. Arts. of Org. filed with NY Dept. of Analyst, Vertical Markets in New York LLC. Arts of Org filed with Secy. of Wilmington, DE 19808. Cert. of Form. to the LLC, c/o The Law Firm of Rosalind Stare of NY (SSNY) on 03/11/2015. Lichter, 375 Greenwich Street, New York, State on 3/30/15. Office location: NY City: Analyze market & financial data & on file: SSDE, Townsend Bldg., Dover, County. Sec. of State designated agent complete forecasting & ROI/ROA analy- Office location: NY County. SSNY DE 19901. Purp: any lawful activities. NY 10013. Purpose: Any lawful purpose. designated agent upon whom process of LLC upon whom process against it sis to develop strategies & solutions to may be served and shall mail process may be served and shall mail copy of NOMAD 28TH STREET LLC, Arts. of problems including pricing optimization, to: 550 W. 45th St., Apt. 346, NY, NY process against LLC to principal business NYIF Remsen, LLC. Arts. of Org. filed Org. filed with the SSNY on 05/30/2014. 10036, principal business address. merchandising, product, strategies & sell- address: 244 Fifth Avenue, Suite # B292, with Secy. of State of NY (SSNY) on Office loc: NY County. SSNY has been Purpose: all lawful purposes. er partnership. Monitor Industry Statistics. NY NY 10001. Purpose: any lawful act. 09/17/14. Off. loc.: NY Co. SSNY des. designated as agent upon whom Analyze collected data. Req’s: MS(or equiv.) as agent of LLC upon whom process process against the LLC may be served. OR BS(or equiv.)+2 yrs. exp. Submit resume NOTICE OF FORMATION OF BARRY may be served. SSNY shall mail SSNY shall mail process to: Morris Terzi, VETS PROJECT LLC. Art. of Org. filed w/ref. to Req.# OC155(CNYB) at: ATTN: MARSHALL, LLC. Articles of process to the LLC, 267 Broadway, 385 Fifth Ave., Ste. 1010, NY, NY with the SSNY on 03/31/15. Office: New York County. SSNY designated as agent of Mercedes Sperling, Twitter, Inc., 1355 Organization filed with the Secretary 2nd Fl., New York, NY 10007. 10016. Purpose: Any Lawful Purpose. Purpose: General. the LLC upon whom process against it Market St., Suite 900, San Francisco, of State of NY (SSNY) on 3/30/2015. Office location: NEW YORK County. Notice of Qualification of DreamWorks may be served. SSNY shall mail copy of CA 94103. process to the LLC, c/o Rosalind Lichter, SSNY has been designated as agent Notice of Qualification of TRNS LLC. Animation L.L.C. Authority filed with NY Esq., 375 Greenwich Street, New York, upon whom process against it may be Authority filed with Secy. of State of NY Dept. of State on 3/18/2015. Office NY 10013. Purpose: Any lawful purpose. served. The Post Office address to (SSNY) on 04/16/15. Office location: NY location: NY County. Princ. bus. addr.: FINANCIAL which the SSNY shall mail a copy of 1000 Flower St., Glendale, CA 91201. County. LLC formed in Connecticut (CT) Notice of Formation of GATES MANOR any process against the LLC served LLC formed in DE on 3/6/1995. NY Sec. OPPORTUNITIES IN on 01/20/15. SSNY designated as agent PRESERVATION, L.P. Cert. of LP filed upon him/her is: 7014 13th Avenue, of State designated agent of LLC upon of LLC upon whom process against it with Secy. of State of NY (SSNY) on MORTGAGE NOTES Suite 202, Brooklyn, NY 11228. The whom process against it may be served may be served. SSNY shall mail process 04/09/15. Office location: NY County. principal business address of the LLC and shall mail process to: CT Corporation to: TRNS LLC, 236 Mass Ave., NE, Ste. Princ. office of LP: 60 Columbus Circle, is: 310 East 46th Street, Suite 19V, System, 111 8th Ave., NY, NY 10011. 605, Washington, DC 20002. Address NY, NY 10023. Latest date on which • Mortgages For Sale New York, NY 10017. Purpose: any DE addr. of LLC: RL&F Service Corp., to be maintained in CT: John G. Grott, the LP may dissolve is 12/31/2114. SSNY • Ranging from $149K - $800K lawful act or activity. 219 Haley Ct., Ledyard, CT 06339. Arts 920 N. King St., 2nd Fl., Wilmington, DE 19801. Cert. of Form. filed with DE Sec. designated as agent of LP upon whom • Low Loan to Value of Org. filed with the CT Secy. of State, process against it may be served. SSNY Notice is hereby given a license, 30 Trinity St., Hartford, CT 06106. of State, 401 Federal St., Dover, DE 19901. Purpose: all lawful purposes. shall mail process to Corporation • Accruing Default Interest @ 24% number 12855119 for and Eating Place Purpose: any lawful activities. Service Co., 80 State St., Albany, NY Beer Liquor has been applied for by the Notice of Qualification of RICHMOND 12207-2543. Name and addr. of each Call: J. Hughis @ 888-377-3872 undersigned to sell beer at retail in a Notice of Qualification of NRG GLOBAL VENTURES LLC Appl. for general partner are available from SSNY. Restaurant under the Alcoholic Beverage Business Services LLC. Authority filed Auth. filed with Secy. of State of NY Purpose: Any lawful activity. Control Law at 422 Amsterdam with NY Dept. of State on 3/16/15. (SSNY) on 03/25/15. Office location: Avenue, New York, NY 10024 for on Office location: NY County. Princ. bus. NY County. LLC formed in Delaware Notice of Qual. of 285 W12th Manager PUBLIC & premises consumption. Beer Shop LLC. addr.: 211 Carnegie Ctr., Princeton, NJ (DE) on 03/13/14. Princ. office of LLC: LLC, Auth. filed Sec’y of State (SSNY) LEGAL NOTICES 08540. LLC formed in DE on 3/11/15. 900 Third Ave., Ste. 1401, NY, NY 2/23/15. Office loc: NY County. LLC Name of LLC: No Place Like Films, LLC. NY Sec. of State designated agent of 10022. SSNY designated as agent of org. in DE 2/11/15. SSNY desig. as Arts. of Org. filed with NY Dept. of LLC upon whom process against it may LLC upon whom process against it may agent of LLC upon whom proc. against Notice of Qualification of Direct State: 12/12/14. Office loc.: NY Co. Sec. be served and shall mail process to: it may be served. SSNY shall mail copy Cabinet Sales - US LBM, LLC. Authority be served. SSNY shall mail process of State designated agent of LLC upon c/o CT Corporation System, 111 8th to the LLC at the princ. office of the of proc. to NRAI, 111 Eighth Ave., NY, filed with NY Dept. of State on 4/9/15. whom process against it may be served Ave., NY, NY 10011, regd. agent upon NY 10011, the Reg. Agt. upon whom Office location: NY County. Princ. bus. LLC. DE addr. of LLC: Paracorp and shall mail process to: c/o Kate M. whom process may be served. DE addr. Incorporated, 2140 S. Dupont Hwy., proc. may be served. DE office addr.: addr.: 1990 Larsen Rd., Green Bay, WI, Ballen, 1148 5th Ave., NY, NY 10128, of LLC: 1209 Orange St., Wilmington, 160 Greentree Dr., Ste. 101, Dover, DE 54303. LLC formed in DE on 3/2/15. NY Camden, DE 19934. Cert. of Form. regd. agent upon whom process may DE 19801. Cert. of Form. filed with DE filed with DE Secy. of State, Div. of 19904. Cert. of Form. on file: SSDE, Sec. of State designated agent of LLC be served. Purpose: any lawful act. Sec. of State, 401 Federal St., Dover, Townsend Bldg., Dover, DE 19901. upon whom process against it may be Corps., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: all lawful purposes. DE 19901. Purpose: Any lawful activity. Purp: any lawful activities. served and shall mail process to: c/o Notice of Qualification of CT Corporation System, 111 8th Ave., Northwestern Mutual Investment Notice of Qualification of Williamsburg Notice of Qualification of Notice of Qualification of TechnoHome NY, NY 10011, regd. agent upon whom Management Company, LLC. Authority Portfolio V, LLC. Authority filed with NY Williamsburg Portfolio III, LLC. LLC Appl. for Auth. filed with Secy. of process may be served. DE addr. of filed with NY Dept. of State on 4/2/15. Dept. of State on 2/18/15. Office Authority filed with NY Dept. of State State of NY (SSNY) on 04/02/15. Office LLC: 1209 Orange St., Wilmington, DE Office location: NY County. Princ. bus. location: NY County. LLC formed in on 1/29/15. Office location: NY County. location: NY County. LLC formed in 19801. Cert. of Form. filed with DE Sec. addr.: 720 E. Wisconsin Ave., Milwaukee, DE on 2/13/15. NY Sec. of State LLC formed in DE on 1/23/15. NY Sec. Delaware (DE) on 05/30/14. Princ. office of State, 401 Federal St., Dover, DE WI 53202. LLC formed in DE on 4/25/11. designated agent of LLC upon whom of State designated agent of LLC upon of LLC: 100 Park Ave., 16th Fl., NY, NY 19901. Purpose: all lawful purposes. NY Sec. of State designated agent of process against it may be served and whom process against it may be served 10017. SSNY designated as agent of LLC upon whom process against it shall mail process to: c/o CT and shall mail process to: c/o CT LLC upon whom process against it may SHAHISTA LALANI LLC, Arts. of Org. may be served and shall mail process Corporation System, 111 8th Ave., NY, Corporation System, 111 8th Ave., NY, be served. SSNY shall mail process to filed with the SSNY on 03/12/2015. to: c/o CT Corporation System, 111 8th NY 10011, regd. agent upon whom NY 10011, regd. agent upon whom c/o Larry Gulko, 3 Old Bridge Ln., Sharon, Office loc: NY County. SSNY has been Ave., NY, NY 10011, regd. agent upon process may be served. DE addr. of process may be served. DE addr. of MA 02067. DE addr. of LLC: c/o Allstate designated as agent upon whom process whom process may be served. DE addr. LLC: The Corporation Trust Co., 1209 LLC: The Corporation Trust Co., 1209 Corporate Services Corp., 1679 S. Dupont against the LLC may be served. SSNY of LLC: 1209 Orange St., Wilmington, Orange St., Wilmington, DE 19801. Orange St., Wilmington, DE 19801. Hwy., Ste. 100, Dover, DE 19901. Cert. shall mail process to: Shahista Altaz DE 19801. Cert. of Form. filed with Cert. of Form. filed with DE Sec. of Cert. of Form. filed with DE Sec. of of Form. filed with DE Secy. of State, Lalani, 330 E 39th St., Apt 17E, NY, DE Sec. of State, 401 Federal St., Dover, State, 401 Federal St., Dover, DE State, 401 Federal St., Dover, DE Div. of Corps., 401 Federal St., Dover, NY 10016. Purpose: Any Lawful Purpose. DE 19901. Purpose: all lawful purposes. 19901. Purpose: all lawful purposes. 19901. Purpose: all lawful purposes. DE 19901. Purpose: Any lawful activity.

16 | Crain’s New York Business | May 4, 2015 P016-17CL_CN_20150504.qxp 5/1/2015 1:12 PM Page 17

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NOTICE OF FORMATION of Nso Notice of Qualification of Westwood DoorPost Blessing, LLC Art of Org Notice of Formation of VKAL, LLC Arts. Notice of Formation of GROOM-U, Xperience, LLC. Arts. of Org. filed with Flatbush, LLC. Authority filed with NY filed with Secretary of State of New of Org. filed with Secy. of State of NY LLC Arts. of Org. filed with Secy. of Secy. of State of NY (SSNY) on Dept. of State on 4/14/15. Office location: York (SSNY) on Dec. 8, 2014. Office (SSNY) on 01/20/15. Office location: State of NY (SSNY) on 03/23/15. Office 03/10/14. Office location: NY County. NY County. Princ. bus. addr.: 999 location: Richmond County. SSNY is NY County. SSNY designated as agent location: NY County. Princ. office of SSNY designated as agent of LLC Waterside Dr., Ste. 2300, Norfolk, VA designated as agent of LLC upon of LLC upon whom process against LLC: 25 W 81st St., #2-C, NY, NY upon whom process against it may be 23510. LLC formed in DE on 4/9/15. NY whom process against it may be served it may be served. SSNY shall mail 10024. SSNY designated as agent of served. SSNY shall mail process to Sec. of State designated agent of LLC against LLC to: DoorPost Blessing process to Gusrae Kaplan Nusbaum LLC upon whom process against it may the LLC, 123 E. 54th St, #7E, NY, NY upon whom process against it may be 572 Cary Ave., SI, NY 10310. Purpose: PLLC, 120 Wall St., 25th Fl., NY, NY be served. SSNY shall mail process 10022. Purpose: Any lawful activity. served and shall mail process to: c/o CT Any lawful activity or purpose. 10005. Purpose: Any lawful activity. to the LLC at the addr. of its princ. Corporation System, 111 8th Ave., NY, NY office. Purpose: Any lawful activity. BoxTree Productions, LLC. Appl. for 10011, regd. agent upon whom process 17 WASHINGTON LLC, Arts. of Org. Notice of Qualification of MSG AVIATION, Auth. filed with Secy. of State of NY may be served. DE addr. of LLC: The filed with the SSNY on 03/11/2015. LLC Appl. for Auth. filed with Secy. Notice of formation of BLUELIGHT (SSNY) on 03/12/15. Off. loc: NY Co. Corporation Trust Co., 1209 Orange St., Office loc: NY County. SSNY has of State of NY (SSNY) on 03/27/15. NYC, LLC filed with the Secy. of State Orig. juris: DE. SSNY designated as Wilmington, DE 19801. Cert. of Form. filed been designated as agent upon whom Office location: NY County. LLC formed of NY (SSNY) on 3/16/15. Office loc.: agent of LLC upon whom process with DE Sec. of State, PO Box 898, Dover, process against the LLC may be served. in Delaware (DE) on 03/04/15. Princ. New York County. SSNY is designated may be served. SSNY shall mail DE 19903. Purpose: all lawful purposes. SSNY shall mail process to: The LLC, office of LLC: Two Pennsylvania Ave., as agent of the LLC upon whom process to Andrea Dubois, 245 W 135 West 26 Street #11B, NY, NY NY, NY 10121. SSNY designated as process against it may be served. The 138th St, New York, NY 10030. 10001. Purpose: Any Lawful Purpose. agent of LLC upon whom process address SSNY shall mail copy of Purpose: General. Notice of Qualification of SWN Energy Services Company, LLC. Authority filed against it may be served. SSNY shall process to is Shannon Bailey Palmer, mail process to c/o Corporation 1 Sheridan Sq., Apt. 7D, New York, NY Notice of Qualification of Stone & with NY Dept. of State on 3/30/15. Notice of Formation of NEW FORK CITY Office location: NY County. LLC formed 212 LLC Arts. of Org. filed with Secy. Service Co., 80 State St., Albany, NY 10014. Purpose: Any lawful activity. Strand LLC. Authority filed with NY 12207-2543. DE addr. of LLC: 2711 Dept. of State on 4/1/15. Office location: in TX on 2/6/15. NY Sec. of State of State of NY (SSNY) on 03/13/15. Centerville Rd., Ste. 400, Wilmington, Notice of Formation of WALDEN NY County. LLC formed in DE on designated agent of LLC upon whom Office location: NY County. SSNY DE 19808. Cert. of Form. filed with PRESERVATION, L.P. Cert. of LP filed 5/1/12. NY Sec. of State designated process against it may be served and designated as agent of LLC upon whom DE Secy. of State, Div. of Corps., John with Secy. of State of NY (SSNY) on agent of LLC upon whom process shall mail process to: c/o CT Corporation process against it may be served. SSNY G. Townsend Bldg., 401 Federal St., 03/17/15. Office location: NY County. against it may be served and shall mail System, 111 8th Ave., NY, NY 10011, shall mail process to the LLC, c/o, Ste. 4, Dover, DE 19901. Purpose: Princ. office of LP: 60 Columbus Circle, process to: 154 Grand St., NY, NY regd. agent upon whom process may be 30-10 Review Ave., Long Island City, Any lawful activity. NY, NY 10023. Latest date on which 10013, principal business address. served. TX and principal business addr.: NY 11101. Purpose: Any lawful activity. the LP may dissolve is 12/31/2114. DE address of LLC: Corporation 10000 Energy Dr., Spring, TX 77389. SSNY designated as agent of LP upon Service Co., 2711 Centerville Rd., Cert. of Org. filed with TX Sec. of Notice of Qualification of Viking Notice of Formation of 249 Church whom process against it may be served. Ste. 400, Wilmington, DE 19808. Cert. State, 1019 Brazos, Austin, TX 78701. Partners Fund III LP. Authority filed with Retail Owner LLC, Art. of Org. filed with SSNY shall mail process to Corporation of Form. filed with DE Sec. of State, Purpose: all lawful purposes. NY Dept. of State on 4/11/14. Office Sec’y of State (SSNY) on 1/5/15. Office Service Co., 80 State St., Albany, NY P.O. Box 898, Dover, DE 19903. location: NY County. Princ. bus. addr.: location: NY County. SSNY designated as agent of LLC upon whom process 12207-2543. Name and addr. of each Purpose: all lawful purposes. NOTICE OF FORMATION OF Columbia 55 Railroad Ave., Greenwich, CT 06830. LP formed in DE on 4/2/14. against it may be served. SSNY shall mail general partner are available from Care NY LLC. Articles of Organization copy of process to 150 E. 58th St., 39th Fl., SSNY. Purpose: Any lawful activity. Notice of Qualification of Wildcat filed with the Secretary of State of NY NY Sec. of State designated agent of Capital Management, LLC. Authority LP upon whom process against it may NY, NY 10155. Purpose: any lawful (SSNY) on 04/03/2015. Office location: activities. NOTICE OF FORMATION of filed with NY Dept. of State on 3/31/15. NEW YORK County. SSNY has been be served and shall mail process to: Office location: NY County. Princ. bus. c/o CT Corporation System, 111 8th Riesenburger Properties, LLC. Arts of designated as agent upon whom Notice of Formation of WOLF SCI- Org filed with Secy. Of State of NY (SSNY) addr.: 888 7th Ave., 35th Fl., NY, NY process against it may be served. The Ave., NY, NY 10011. DE addr. of LP: 10106. LLC formed in DE on 10/17/11. The Corporation Trust Co., 1209 ENTIFIC, LLC Arts. of Org. filed with on January 20, 2015. SSNY designated Post Office address to which the SSNY Secy. of State of NY (SSNY) on agent upon whom process may be NY Sec. of State designated agent of shall mail a copy of any process Orange St., Wilmington, DE 19801. LLC upon whom process against it Name/addr. of genl. ptr. available from 11/07/14. Office location: NY County. served and shall mail copy of process against the LLC served upon him/her SSNY designated as agent of LLC against LLC to C/O Corporation Services may be served and shall mail process is: 10 Bank Street, Suite 560 White NY Sec. of State. Cert. of LP filed with to: c/o CT Corporation System, 111 DE Sec. of State, 401 Federal St., Dover, upon whom process against it may Co., 80 State St. Albany, NY 12207. Plains, NY 10606. The principal business be served. SSNY shall mail process Dissolution Date: no later than December 8th Ave., NY, NY 10011. DE addr. of address of the LLC is: 24 West 25th DE 19901. Purpose: any lawful activity. LLC: 1209 Orange St., Wilmington, DE to the LLC, 1725 York Ave., Apt. 29B, 31, 2043. Purpose: any lawful purpose. Street 6th Floor, New York, NY 10010 NY, NY 10128. The regd. agent of the 19801. Cert. of Form. filed with DE Sec. Purpose: any lawful act or activity. Notice of Qualification of Century of State, 401 Federal St., Dover, DE Support Services, LLC. Authority filed company upon whom and at which Notice of Formation of TALKING ANIMALS 19901. Purpose: all lawful purposes. with NY Dept. of State on 4/8/15. Office process against the company can be LLC Arts. of Org. filed with Secy. of Notice of Formation of SystemOne, location: NY County. Princ. bus. addr.: served is Barry Farkas at the addr. of State of NY (SSNY) on 04/03/15. Notice is hereby given a license, LLC Arts. of Org. filed with Secy. of 1061 Main St., Banco Business Park, process. Purpose: Any lawful activity. Office location: NY County. SSNY number 1285051 for on-premises State of NY (SSNY) on 04/03/15. Office #26, North Huntingdon, PA 15642. LLC designated as agent of LLC upon whom Liquor has been applied for by the location: NY County. Princ. office of formed in DE on 11/15/12. NY Sec. of Notice of Qualification of Thor 98 process against it may be served. SSNY undersigned to sell liquor at retail in a LLC: c/o David Florin, 333 E. 56th St., State designated agent of LLC upon Morningside Ave LLC. App. for Auth. shall mail process to the LLC, 155 E. Restaurant under the Alcoholic 2C, NY, NY 10022. SSNY designated whom process against it may be served filed with Secy. of State of NY (SSNY) 34th St., Apt. #14E, NY, NY 10016. Beverage Control Law at 2350 as agent of LLC upon whom process and shall mail process to: c/o CT 2/10/15. Office location: NY County. Purpose: Any lawful activity. Broadway a/k/a 215 West 85th Street, against it may be served. SSNY shall Corporation System, 111 8th Ave., NY, LLC formed in Delaware (DE) on New York, NY 10024 for on premises mail process to the LLC, 333 E. 56th NY 10011, regd. agent upon whom 10/3/14. SSNY designated as agent THE WILSON HALL GROUP, LLC, Arts. consumption. Han Dynasty Upper St., 2C, NY, NY 10022. Purpose: Any process may be served. DE addr. of LLC: of LLC upon whom process against it of Org. filed with the SSNY on West Side Corp d/b/a Han Dynasty. lawful activity. 160 Greentree Dr., Ste. 101, Dover, DE may be served. SSNY shall mail process 03/31/2015. Office loc: NY County. SSNY 19904. Cert. of Form. filed with DE Sec. to: c/o Thor Equities, LLC, 25 W. 39th has been designated as agent upon SLB 121 NY LLC, a domestic LLC, TERZI W72ND STREET LLC, Arts. of of State, 401 Federal St., Dover, DE St., NY, NY 10018. DE address of LLC: whom process against the LLC may filed with the SSNY on 1/14/15. Office Org. filed with the SSNY on 03/12/2015. 19901. Purpose: all lawful purposes. c/o United Corporate Services, Inc., be served. SSNY shall mail process to: location: New York County. SSNY is Office loc: NY County. SSNY has 874 Walker Road, Ste. C, Dover, DE 171 W. 79th St., Ste 112, NY, NY 10024. designated as agent upon whom been designated as agent upon whom Notice of Qualification of FINGER 19904. Arts. of Org. filed with DE Secy. Reg Agent: Michael J. Wilson CEM process against the LLC may be process against the LLC may be served. LAKES SOLAR 1, LLC Appl. for Auth. of State, 401 Federal St., Ste. 4, Dover, CLEP, 171 W. 79th St., Ste 112, NY, served. SSNY shall mail process to SSNY shall mail process to: JTRE, filed with Secy. of State of NY (SSNY) DE 19901. Purpose: any lawful activity. NY 10024. Purpose: Any Lawful Purpose. The LLC, 180 Park Row, Apt. 24D, 385 5th Ave., Ste. 1010, NY, NY on 03/23/15. Office location: NY NY, NY 10038. General purpose. 10016. Purpose: Any Lawful Purpose. County. LLC formed in Delaware (DE) Notice of Qualification of Trio Notice of Qualification of WFO BP REO on 03/17/15. Princ. office of LLC: 360 Developer LLC. Authority filed with NY 2015-01, LLC Appl. for Auth. filed with 22nd St., Ste. 600, Oakland, CA Dept. of State on 3/25/15. Office Secy. of State of NY (SSNY) on 03/17/15. 94612. SSNY designated as agent of location: NY County. LLC formed in DE Office location: NY County. LLC LLC upon whom process against it on 3/23/15. NY Sec. of State designated formed in Delaware (DE) on 03/05/15. may be served. SSNY shall mail agent of LLC upon whom process Princ. office of LLC: 1140 Ave. of the process to c/o Corporation Service against it may be served and shall mail Americas, 7th Fl., NY, NY 10036. SSNY Do You Want To Get Co., 80 State St., Albany, NY 12207- process to: c/o CT Corporation System, designated as agent of LLC upon whom 2543. DE addr. of LLC: 2711 Centerville 111 8th Ave., NY, NY 10011. DE process against it may be served. SSNY Rd., Wilmington, DE 17808. Cert. of address of LLC: c/o Corporation Trust shall mail process to c/o Corporation Your Company In Front Of Form. filed with Jeffrey W. Bullock, Co., 1209 Orange St., Wilmington, DE Service Co., 80 State St., Albany, NY Townsend Bldg., 401 Federal St., #3, 19801. Cert. of Form. filed with DE Sec. 12207-2543. DE addr. of LLC: 2711 Dover, DE 19901. Purpose: Solar of State, 401 Federal St., Dover, DE Centerville Rd., Ste. 400, Wilmington, New York City’s Influential energy development. 19901. Purpose: all lawful purposes. DE 19808. Cert. of Form. filed with DE Secy. of State, 401 Federal St., Dover, Notice of Qualification of Varsity Notice of Qualification of NY-SMSA DE 19901. Purpose: Any lawful activity. Spirit LLC. Authority filed with NY Sale Site Subsidiary LLC. Authority Business Professionals? Dept. of State on 3/23/2015. Office filed with NY Dept. of State on NOTICE OF FORMATION OF Aesop location: NY County. LLC formed in 3/19/15. Office location: NY County. Advisors LLC. Articles of Organization TN on 4/21/1983. NY Sec. of State Princ. bus. addr.: One Verizon Way, filed with the Secretary of State of NY designated agent of LLC upon whom Basking Ridge, NJ 07920. LLC formed (SSNY) on 2/12/2015. Office location: process against it may be served and in DE on 3/3/15. NY Sec. of State NEW YORK County. SSNY has been Contact Joanne Barbieri at shall mail process to: c/o CT designated agent of LLC upon whom designated as agent upon whom Corporation System, 111 8th Ave., NY, process against it may be served and process against it may be served. The NY 10011, regd. agent upon whom shall mail process to: c/o CT Post Office address to which the SSNY 212-210-0189 for classified process may be served. TN and principal Corporation System, 111 8th Ave., NY, shall mail a copy of any process against business address: 6745 Lenox NY 10011, regd. agent upon whom the LLC served upon him/her is: Center Ct., Ste. 300, Memphis, TN process may be served. DE addr. of Corporate Direct, Inc, 2248 advertising opportunities. 38115. Cert. of Org. filed with TN LLC: 1209 Orange St., Wilmington, DE Meridian Blvd, Ste H, Minden, NV, Sec. of State, 312 Rosa L. Parks 19801. Cert. of Form. filed with DE Sec. 89423 The principal business address Ave., 6th Fl., Nashville, TN 37243. of State, 401 Federal St., Dover, DE of the LLC is: New York Purpose: any Purpose: all lawful purposes. 19901. Purpose: all lawful purposes. lawful act or activity.

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The IT boys (and a few girls, too) THIS GAME CAPTURES THEIR HEARTS, MINDS Continued from Page 1 years say they regularly get offered ment of Computer Sciences and “That offer just isn’t where the positions; one in every seven Engineering. CAPTURE THE FLAG has been played in parks and market is anymore,” Mr. Raviv said. changed jobs last year, according to He added that people skilled in backyards for generations. “[It] is one of the most “No one good who accepted the job consulting firm Frost & Sullivan. application security and security ana- popular games for both boys and girls who are would stay long.” In such an environment, pay is lytics—that means protecting mas- beginning to care for team organization,” observed Welcome to the real-time ver- soaring and New York is at the heart sive databases or assessing threats— an assistant director for physical education in New sion of Revenge of the Nerds.Long of the frenzy for computer-security are most in demand.When NYU last York City schools, Jesse H. Bancroft, in her 1909 dismissed as geeks with a penchant guys. (Nearly 80% of those who conducted a survey three years ago, book, Games for the Playground, Home, School for obscure Dr. Who references, cy- work in this profession are white graduates with cybersecurity degrees and Gymnasium. “This game is known also by the bersecurity experts are now the males, according to federal data.) were leaving school with more than name of Scots and English and probably originated in border warfare.” hottest commodity in business— The average information-security two job offers each, on average. Fast-forward a century and the child’s game has evolved into a any business. analyst in New York was paid about One common job description is favorite pastime for adults who wage war against hackers. Indeed, as With hack attacks reaching record $120,000 last year, according to fed- to serve as what’s called an ethical companies commit ever greater sums to cybersecurity, there is growing levels—an average of 15 uncovered eral data,and business leaders say big hacker, searching a client’s network awareness that part of an effective hacking-prevention strategy is making sure per week last year, according to the companies are now routinely offer- for vulnerabilities and sounding the the guardians of the network gates have time to play Capture the Flag. Identity Theft Resource Center, up ing 20% or 30% more, plus bonuses. alarm when one is found. “I break CTF, as it’s called in cyber circles, is played online rather than outdoors. 28% from the prior year—corpora- Smaller firms are offering ownership s—t,” is how one such hacker de- The children’s game is usually over in minutes, while the online version can tions and the federal government are stakes to attract and retain people. fined his job. “Others try to heal it,” take up to two days. But the principles for both are the same: Pierce an committing vast resources Joyce Brocaglia, CEO at he added,referring to how some col- opponent’s defenses, protect your own, and then steal their flag—or, as the to combat ever more so- recruiter Alta Associates, leagues fix breaches or aim to pre- case may be, confidential customer data. A tournament sponsored by NYU phisticated intruders. JP- said she is negotiating 1.5M vent them from happening. last fall attracted more than 18,000 participants, up from 1,500 in 2010. Morgan Chase, for in- SHORTAGE OF packages “well in the sev- In either case, the work appeals CYBERSECURITY Kevin Chung, a 21-year-old NYU student from Brooklyn who spent last stance, vowed to double its en figures” for top-level to those expert in cryptography, workers expected summer working in product security at Etsy, said CTF helps develop problem- annual security budget to globally in just executives. computer forensics and mathemat- $500 million after suffering five years, one One sign of the talent ics.The downside is that the job can solving skills. It also helps teach teamwork and a sense of camaraderie, two a major hack last summer, study reported wars’ intensity: Master- be stressful, owing to the never- things in short supply in the cybersecurity world. “Let’s face it: A lot of what we and the Obama administra- Card sued Nike earlier this ending nature of the hacker wars. do is quite solitary,” Mr. Chung said. —AARON ELSTEIN

tion is seeking $14 billion from Con- year, alleging the apparel giant con- “It’s the kind of job where you feel istockphoto gress for federal cybersecurity meas- spired with the credit-card company’s you are under attack all the time,”said ures, 40% more than in 2013. former information-security chief to Mr. Raviv, who organizes the New perks and now provides his staff of John Pavone, CEO of Aspect Secu- The flood of cash has unleashed poach cybersecurity employees. York Information Security Meetup,a 20 free breakfast, lunch and dinner, rity, which specializes in protecting an unprecedented scramble to find Westchester County-based Master- group of 1,000 professionals. along with all the sweets, coffee and financial institutions against cyber- the relative handful of people with the Card seeks $5 million in damages. For corner-office types, the Red Bull they can consume. He also attacks. “It’s a lot of fun, and keeps skills to protect vast computer net- “Talent in this rapidly growing area is question has become: How to keep invites employees to take two- or them sharp.” Tournaments for his works. Only 4,400 New Yorkers limited, in demand and not well these in-demand employees satis- three-minute “brain breaks” every 50 employees are a fixture of compa- worked in information security last known,” MasterCard said. Nike is fied so that they don’t defect? hour and to keep personal comput- ny retreats, with trophies handed year,according to U.S.Labor Depart- contesting the charges. ers at their desks so they can attend out to the winners, including one ment data,but last week on LinkedIn Such skirmishes stand to escalate. Pay and perks to private matters while working. “I shaped like a sledgehammer. more than 500 open positions were Only 16% of cybersecurity managers Paying more is a good start, but don’t want my people to feel like There may be no surer sign that advertised, a number that is expected believe that at least half the job appli- guys who choose to devote their ca- they’re cut off from the outside the cybersecurity experts’ moment to grow even though many employers cants they see are qualified,according reers fighting hackers typically aren’t world,” Mr. Silverman said. has arrived than the newfound at- here elect to keep their network- to a study last month by ISACA, an motivated by financial considera- ProactiveRISK Inc., a West tention they get from celebrities. protection squads in lower-cost information-technology trade group. tions alone.They want perks,too.Yet Caldwell, N.J.-based firm, holds Glee star Jane Lynch kicked off a locales. (Macy’s information- More than a third of respondents said they tend to be unmoved by tradi- no-work Wednesdays when possi- trade show in San Francisco last technology operation is in Atlanta.) they simply couldn’t find anyone ap- tional tech-world goodies like flex- ble so its 25 employees,who are usu- month by tweaking the lyrics to a “There is zero-percent unem- propriate.Frost & Sullivan estimated time or company-sponsored happy ally on call 24 hours a day, can go classic David Bowie song to express ployment in our arena,”said William the shortfall in workers will reach 1.5 hours or in-house yoga instructors.“I fishing together. “Why wait until how angry she is at cybercriminals Pelgrin, CEO of the Center for In- million globally in five years. haven’t had anyone ask why we don’t retirement to have fun?” said co- and ready for ch-ch-changes.“Work ternet Security,a nonprofit that helps Universities are attempting to serve gourmet pretzels at the cafete- founder Tom Brennan. to save domains,” she crooned. government agencies defend against fill the void by training students for ria,” deadpanned Sam Visner, who Still, for many,the best perk may The star treatment is gratifying hackers. Mr. Pelgrin said he hired a entry-level jobs that typically pay oversees 240 cybersecurity experts at be having time to play Capture the for cybersecurity veterans—and a young man who arrived for his inter- $85,000, according to employers. management-consulting firm ICF Flag, a sophisticated online version long time coming. “Two years ago, view on a winter day wearing jeans New York University’s Polytechnic International. of the children’s game that has the our profession wasn’t sexy at all,” Mr. and flip-flops. “In his defense, it was School of Engineering annually Joe Silverman, who runs same hold on cybersecurity experts Raviv said. “And now look at this.” Ⅲ a warm winter day,” he said. produces about 100 graduates with Manhattan-based New York Com- as golf does on bankers (see sidebar). Cybersecurity analysts who expertise in cybersecurity, said puter Repair, which helps protect “Capture the Flag is really an im- LISTEN to a discussion at haven’t updated their résumés in Nasir Memon, head of the Depart- companies’ firewalls, ramped up the portant thing for our people,” said CrainsNewYork.com/podcasts

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NOTICE OF FORMATION of The Front Notice of Formation of Strategic NYIF Livingston, LLC. Arts. of Org. filed Notice of Formation of Not the Burbs Suited, LLC. Arts. of Org. filed with Secy. Office NYC LLC. Arts. of Org. filed with Business – Properties – New York LLC. with Secy. of State of NY (SSNY) on LLC. Arts. of Org. filed with NY Dept. of State of NY (SSNY) on 01/05/15. Off. Secy. of State of NY (SSNY) on Arts. of Org. filed with Secy. of State 11/19/14. Off. loc.: NY Co. SSNY des. of State on 3/4/15. Office Location: loc.: NY Co. SSNY des. as agent of LLC 03/05/15. Office location: NY County. of NY (SSNY) on 1/16/15. Office as agent of LLC upon whom process New York County. SSNY designated upon whom process may be served. SSNY designated agent upon whom location: NY County. SSNY designated may be served. SSNY shall mail process as agent of LLC upon whom process SSNY shall mail process to the LLC c/o process may be served and shall mail as agent of LLC upon whom process to the LLC, 267 Broadway, 2nd Fl., against it may be served. SSNY shall Ashley Owens, 35 Claver Pl., Apt. 7, copy of process against LLC to prin- against it may be served. SSNY shall New York, NY 10007. Purpose: General. mail process to: 67 Liberty St. #10, Brooklyn, NY 11238. Purpose: General. cipal business address: 51 Essex St., mail process to: c/o The LLC, 100 NY, NY 10005. Purpose: any lawful 3rd Fl., NY, NY 10002. Purpose: Any Riverside Blvd., Ste. 5G, NY, NY Notice of Qual. of 520 West 41 Funding activity. Notice of Qual. of 285 W12th Investors lawful activity. 10069. Purpose: any lawful activity. LLC, Auth. filed Sec’y of State (SSNY) LLC, Auth. filed Sec’y of State (SSNY) 1/9/15. Office loc: NY County. LLC org. Notice of formation of Meliki Hurd 2/23/15. Office loc: NY County. LLC 500A E. 87th STREET LLC A. Art. of Notice of Formation of MM WELLNESS in DE 12/29/14. SSNY desig. as agent Entertainment LLC. Arts. of Org. filed org. in DE 2/11/15. SSNY desig. as Org. filed with the SSNY on LLC Arts. of Org. filed with Secy. of of LLC upon whom proc. against it may with NY Secy. of state (SSNY) on agent of LLC upon whom proc. against 01/13/15. Office: New York County. State of NY (SSNY) on 04/10/15. Office be served. SSNY shall mail copy of 02/24/2015. Location: Kings County. it may be served. SSNY shall mail copy SSNY designated as agent of the location: NY County. Princ. office of proc. to NRAI, 111 Eighth Ave., NY, NY SSNY designated for service of of proc. to NRAI, 111 Eighth Ave., NY, LLC upon whom process against it LLC: Mark Meiners, 250 E. Houston St., 10011, the Reg. Agt. upon whom proc. process and shall mail copy of NY 10011, the Reg. Agt. upon whom may be served. SSNY shall mail Apt. 10D, NY, NY 10002. SSNY designated may be served. DE office addr.: 160 process served against the LLC to proc. may be served. DE office addr.: copy of process to the LLC, c/o as agent of LLC upon whom process Greentree Dr., Ste. 101, Dover, DE Registered Agent: c/o United States 160 Greentree Dr., Ste. 101, Dover, DE Staffard Garson Properties, LLC, 747 against it may be served. SSNY shall mail 19904. Cert. of Form. on file: SSDE, Corporation Agents, Inc., 7014 13th 19904. Cert. of Form. on file: SSDE, Central Park Avenue, Yonkers, NY process to the LLC at the addr. of its Townsend Bldg., Dover, DE 19901. Avenue, Ste. 202, Brooklyn, NY Townsend Bldg., Dover, DE 19901. 10704. Purpose: Any lawful purpose. princ. office. Purpose: Any lawful activity. Purp: any lawful activities. 11238. Purpose: Any lawful purpose. Purp: any lawful activities.

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Reaching the heavens

Continued from Page 4 known for assembling properties over 325,000 square feet could be built Calvary Baptist Church and the Sal- a long period of time to combine into there, according to a rough estimate isbury Hotel declined to comment. a single, large development site. On based on city zoning documents and Though Extell has already bought this particular West 57th Street not accounting for any zoning several adjoining properties,the foot- block, the company already has pur- bonuses offered for the inclusion of print of any future project could be chased three other buildings sur- affordable housing or improve- doubled by a green light from the ments to nearby subway stations. congregation, which is considering a number of options.Many in the com- If the church Numbers game munity believe the most likely course But many organizations, includ- would be a sale to the developer, doesn’t sell, ing the Municipal Art Society,believe which would demolish the structures that Mr. Barnett has extra develop- and include a new and bigger sanctu- it would stymie ment rights left over from the plan- ary in whatever takes their place. Al- ning of Extell’s 430,000-square-foot ternatively, the church could allow Extell’s plans One57 project,which could be trans- Extell to tear down the hotel but pre- ferred to whatever the firm might be serve the sanctuary, which occupies planning for the church site. only the lower floors in one of the two Members of Community Board buildings at 123 W. 57th St. Doing 5, which represents midtown, op- so, however, would trigger building- rounding the church and is currently pose the way super-tall towers are code requirements that would force negotiating buyouts with rent- being developed in the area around the congregation to reduce the num- regulated tenants,Crain’s has learned. One57, which will soon count as its ber of church seats to 600 from 800, Some of the units in 134 W. 58th St. neighbors a 950-foot building being according to the bulletin. also serve as graduate housing for stu- developed by Vornado and another GOING UP? Extell’s If the church decides not to sell dents at Fordham University,accord- Extell project,the 1,400-foot Nord- 75-story One57 already but instead reposition the hotel, its ing to the school’s website. strom Tower. dominates the stretch of verdict would probably stymie Ex- If Extell were to tear down the But there is not much they can do. West 57th Street where tell’s carefully laid plans for the block. church, the hotel and the three Mr. Barnett has been simply shifting it has been buying up Extell, led by Gary Barnett, is buildings, a structure of at least around the total amount of square property for another feet that is already allowed on the project. BUILDING BLOCK block, and not actually adding any

density, meaning he could build an- buck ennis A single block on West 57th Street could be home to three ultraluxury super-towers. Gary Barnett’s Extell Development could double its footprint with the purchase of Calvary Baptist other tower without public approvals. Church’s property. Moving so-called air rights planned, nor do we know what im- home in the same neighborhood as around a block has long served as a pact they will have,” said David Mr. Barnett—Queens’s Richmond CENTRAL PARK crucial way for owners of landmarks Diamond, a member of the Central Hill. and other buildings not built to Park Sunshine Task Force at a hear- “This hotel has given me a com- maximum density to generate rev- ing last week.The organization was fortable life,” Mr. Mohammed said. enue by selling their unused devel- created to examine the impacts of “I would support any opposition [to Central Park South opment potential. The Chrysler tall towers on the neighborhood and its development].” Building was constructed in this the shadows they cast on the park. Mr.Barnett,on the other hand,ar- way, and the city has created special gued during a town-hall event last districts, such as West Chelsea, The poor and the wealthy year that his projects create good- where these rights can be trans- CB5 is also concerned that busi- paying union construction and serv- ferred across neighborhoods, and is nesses and rent-regulated apart- ice jobs,along with billions in revenue even studying a way to make ex- ments in buildings in the district for the city and state governments. West 58th Street changes easier elsewhere in the city. will be replaced by towers solely for “In New York ... we welcome the

Properties Sixth Avenue But community groups argue that the super-wealthy; a unit in One57 poor and downtrodden, and the

Seventh Avenue owned by Extell the process is not transparent enough sold for $90 million last year. wealthy as well,” he said during the Steinway and that more notice should be given Haniff Mohammed, 63, has February 2014 meeting, adding: Calvary Tower One57 Baptist & when real estate firms start buying air worked in the Salisbury Hotel for 21 “We need to realize that building a Salisbury rights or merging tax lots with the years as an elevator operator, fire- great city involves development.” Ⅲ aim of erecting a super-tall tower. safety director and a member of the West 57th Street “As a result, today we do not New York Hotel and Motel Trades LISTEN to a discussion at know how many buildings are being Council. Coincidentally, he owns a CrainsNewYork.com/podcasts

an 18.6-ounce jar of truffle mustard. doesn’t deliver. When Nutella “Business is fantastic,” Ms. Val- opened a shop in food marketplace Single-item specialty shops leau said, noting that Maille’s core Eataly last May, consumers rejoiced customers are New Yorkers who at the accessibility to the popular Continued from Page 4 they’re in the mood for—in a world shop generated $80,000 in sales have lived or worked international- hazelnut spread. But they quickly And when they pick their prod- of overpromises and underdelivery.” during last year’s holiday season and ly and are familiar with the French complained that the store was bor- uct, they go deep. Empire Mayon- The concept certainly works well has doubled in size every year since product. ing and overhyped, and the product naise in Brooklyn sells nearly a in New York,where tourists and res- its founding.The brand was recent- too expensive. It closed after six dozen varieties of spread, some with idents alike pride themselves on ly parodied in a Kevin Hart skit on Risky approach months, never earning more than truffles and bacon. Maille’s mustard their culinary sophistication and Saturday Night Live that went viral. Most of the stores are small, re- two and a half stars on Yelp. shop on the Upper West Side sells seek out products they can’t get any- Some 30% of sales come from the quiring just a few hundred square “You need to make sure your prod- 20 varieties, including five on tap. where else. But paying $9 for a 4- brick-and-mortar store and web- feet of space. Maille takes up 600 uct can differentiate itself,” said Ms. Like the billboards of Times ounce jar of mayonnaise may not site, and the remainder comes from square feet, while Empire’s shop— Spiegel.“People will and do pay more Square or the brick-and-mortar lo- resonate elsewhere. wholesaling to upscale markets such where all products are made on- for products that are worth it.” Ⅲ cations of e-commerce startups, “These are not things that will as Whole Foods and Dean & site—is half that size. these shops also double as market- play out across America,” said DeLuca. The approach, of course, is risky Additional reporting by Jessica Kramer and ing for brands eager to expand in an Stephen Zagor, dean of culinary “We’re getting lots of buzz on if the single item a store focuses on Emily Laermer artisanal age of specialty food man- business and industry studies at the food blogs and growing so rapidly,” ufacturing. Institute of Culinary Education. said Ms. Valleau, noting that many CLARIFICATION AND CORRECTIONS “To be known for doing one “They cater to a certain economic walk-ins are tourists. “We’re focus- Elance-oDesk helps classify a freelancer on its platform as a 1099er or W-2 employee within minutes, thing better than anything else is the clientele.” ing right now on growing to a based on a quiz of both the freelancer and the client. This information was unclear in the April 13 “Is ultimate goal of branding,” said bigger facility and keeping it that on-demand worker actually your employee?” ‘Lots of buzz’ restaurant consultant Arlene authentic.” Ron Suber is president of San Francisco-based peer-to-peer lender Prosper, which serves New York City. Spiegel.“Because urban dwellers es- The strategy pays off for brands The Maille boutique on Colum- His title was misstated in the April 27 “Banking on the ‘underbanked.’ ” pecially are very fickle, they want to that can turn the buzz of a storefront bus Avenue changes its mustard sea- AccelFoods, which has the Cows Gone Coconut brand in its portfolio, does not have a FreshDirect be able to get the best of whatever into wholesale sales. Elizabeth sonally, said Pierette Huttner, som- executive on its board. Its competitor is Food-X. This information was misstated in the April 20 Valleau, co-founder of three-year- melier for the 268-year-old “Cultivating the next hot food startup.” LISTEN to a discussion at old Empire Mayonnaise, said her Unilever-owned condiment brand. Harlem Skin & Laser Clinic is located at 2119 Frederick Douglass Blvd., between West 114th and West CrainsNewYork.com/podcasts Prospect Heights, Brooklyn-based The shop charges as much as $99 for 115th streets. The address was misstated in the April 20 For the Record.

May 4, 2015 | Crain’s New York Business | 19 20150504-NEWS--0020-NAT-CCI-CN_-- 5/1/2015 6:21 PM Page 1

BUSINESS $299K Median asking price for a business for sale in metro area during 1Q, up 9% from 2014 PEOPLE Source: BizBuySell

EXECUTIVE MOVES

Verve Mobile: Nada Stirratt, 49, joined the location-based mobile advertising platform as chief executive. She was previously chief revenue officer at Acxiom. Amalgamated Bank: Drew LaBenne, 41, joined as chief financial officer. He was previously chief financial officer for business banking at JPMorgan Chase. Duane Crisco, 54, joined as chief lending officer. He was previously managing director at GE Capital. Rupert Allan, 53, joined as chief trust officer. He was previously managing director at Loeb King Capital Management. Giggle Inc.: Kit Li-Perry, 42, joined the retailer as chief merchandising officer. She was previously vice president of global merchandising and licensing at Kate Spade. Michelle Jacobs, 43, joined as vice president, licensing and business development. She was previously executive director of brand development at Real Simple. Jewish Board of Family and Children’s Services: John Kastan, 61, joined the health and human-services provider as chief program officer. He was previously senior vice president of ONE COOL CAT: strategy and business development at E. Jaguar Beckford, PSCH. serving the “gender- Movable Ink: Miles fluid masculine- Williams, 45, joined identified queer the contextual email female” since 2013. marketing platform as chief marketing

buck ennis officer. He was previously vice GOTHAM GIGS president of marketing at Shutterstock. McGladrey: Victor Samuel, 47, was promoted to national leader for regulatory compliance, risk advisory services at the assurance, tax and Dressing the dapper dame consulting services firm. He was previously regional director, regulatory compliance. Ernst & Young: David Emmel, 38, Her clothes transcend masculine or feminine labels joined the assurance, tax, transaction and advisory firm as executive As a child, E. Jaguar Beckford preferred G.I. Joe to departments, where they also face fit issues:The director. He was previously manager ‘I started of credit, market and liquidity risk Barbie but noticed that the action figure, unlike female bustline, for example, pulls the material of a policy for the board of governors at the the fashion doll, didn’t have fun clothes.“I was men’s-style vest forward, making the back bunch the Federal Reserve. CFW Careers: Rachel cutting scraps of materials and making hats and up. Ms. Beckford compensates for this with her Fagnant-Fassler, 31, company cute queer outfits for them,” she said.“So my underarm cut. ¶ Her splashy styles in paisley and was appointed co- owner and vice because mother decided she’d teach me how to sew.” ¶ Ms. other prints were displayed last December in a president of the Beckford started making clothes—first for herself, Brooklyn Museum show produced by lifestyle executive-search there was then for others.“On my mother’s deathbed,” she website Dapper Q. Ms. Beckford also founded firm. She continues as vice president. no place recalled,“she urged me to follow my true passion.” Rainbow Fashion Week, which runs June 19 to 26 Roosevelt Hotel: ¶ So she left a career as an attorney to start a and is part of a growing acceptance of people who Chris Hosmer, 60, was appointed for general manager. He was previously business inspired by her own “genderqueer” style, present themselves in ways that don’t fit typical general manager of the New York masculine- which is not specifically masculine or feminine, notions of male or female. ¶ Jag & Co. offers Marriott East Side Hotel. and in 2013 launched Jaguar & Co. Clothier from clothes for a variety of body types and brought in Turing Pharmaceuticals AG: Howard Dorfman, 65, joined the presenting her family’s brownstone in Stuyvesant Heights, $77,000 last year. A red “PaperBoi” trouser suit at biopharmaceutical company as senior Brooklyn. ¶ “I started Jag & Co. because there was $295 is her top seller. While she markets mainly to vice president and general counsel. He women’ was previously vice president and no place for masculine-presenting women,” said women like herself, she said some friends are general counsel at Ferring the designer, 49, who calls herself a “gender-fluid getting their husbands into her suits: “What they Pharmaceuticals. 360i: Michael Lampert, 45, joined the masculine-identified queer female.” Women like realize in seeing dapper women, is that we are digital marketing agency as senior her can feel uncomfortable shopping in men’s actually doing it better.” —lisa ferber vice president of media and account

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SOURCE EXECUTIVE MOVES SODA: KEVIN CUMMINGS Interview by Aaron Elstein management. He was previously managing partner at MediaCom. Synacor Inc.: Anand Subramanian, 45, joined the technology partner for multiscreen products, services and revenue as senior vice present, strategic operations. He was previously CEO at Investors Bank branches out NimbleTV. David Ho, 54, joined as vice president, professional services. evin Cummings,60,is to see us add five more branches in we’re doing.That means stock buy- He was previously vice chief executive of Brooklyn and Queens. We want to backs, dividends, organic growth president of Investors Bank,one of be in New York because its econo- and acquisitions that make sense engineering at the fastest-growing my is healthier than New Jersey’s. economically. Our interests are Synchronoss financial institutions There are so many opportunities aligned. Technologies. in the New York area. Since going here, and the market is so big. I re- Singu Srinivas, 47, K What’s your pitch to get people to work joined as general manager, strategic public in 2005, the Short Hills, member having a talk with a regu- at your bank? accounts. He was previously a partner at N.J.-based institution has quadru- lator who said—and this was Waterstone Management Group. pled in size to $19 billion in assets, tongue in cheek—“You guys are Apart from the fact that you can HookLogic: Patricio Jaramillo, 37, joined while its head count has grown to growing; you’re making money. join a company that’s on the the performance marketing firm as vice 1,800. But Mr. Cummings has What’s wrong with you?” Let me move, we have an excellent president of analytics and insights. He even bigger plans for his bank.Last add that we take our relationships benefits package. We have was previously vice president for year,Investors raised $2.2 billion in with regulators very seriously. a defined-benefit pension analytical solutions at Dunnhumby. new capital to fund additional plan and will pay for peo- Friedman : Jeff Sutton, 58, joined the law growth in New York City, where it How was the bank affected by the ple to get their M.B.A. at firm as partner in charge of the financial crisis? Corporate Recovery Services practice. already operates about 30 of its 132 places like New York He was previously national managing branches. We took our lumps. We had a University or Rutgers, director of corporate recovery at CBIZ $450 million commercial real es- though they have to MHM. A lot of smaller banks are struggling tate portfolio made up mostly of agree to stay with us for Borah Goldstein Altschuler Nahins & these days. How are you different? construction loans, and we took four years afterward. Goidel: Anna Guiliano, 35, was promoted Investors Bank has been $90 million in We’ve sent tellers to to partner at the law firm. She was around since 1926, and for a charge-offs. So of places like Montclair previously an associate. WHERE O’Melveny & Myers: long time it didn’t make many course that hurt. State. In my opinion, Pamela Miller, 44, loans. It was a depositor- THEY That said, we got the cost of education is joined the law firm as a partner. She was previously a partner at Arnold & Porter. owned thrift that would bor- MET back into real estate the biggest obstacle to Morrison & Foerster: Jiang Liu, 46, joined row from the Federal Home A conference lending in 2009, and leveling the economic the law firm as a partner in the firm’s Loan Bank. Then a treasurer room at Crain’s that turned out to be playing field. When I financial-services practice. He was would invest the money in New York a great time to do it. see people leaving previously counsel at Sullivan & mortgage-backed securities, Business, 685 work at 5:30, I say, Cromwell. Third Ave., 10th There’s speculation that and that was pretty much it. floor “Are you going home Mayer Brown: B.Ted Howes, 49, joined We’ve changed the culture by some banks in the area to watch ESPN? Go the law firm as a partner and co-leader bringing in people who know AMBIENCE: are ready to be sold, such to school; get better!” of international arbitration practice. He A splendid view of as Astoria Federal and was previously leader of international business banking,and we had Third Avenue, but Valley National. Are you a Apart from regulations arbitration and Chinese litigation and ample capital, thanks to the otherwise a dispute resolution practices at IPO,to build our lending op- conference room buyer? and credit-quality McDermott Will & Emery. eration. We are now a full- is a conference Astoria is a wonderful concerns, what are the Baker & McKenzie: Huhnsik Chung, 50, service bank that can go toe- room franchise that’s in the biggest challenges facing joined the law firm as a partner. He was to-toe with the big guys. WHAT THEY midst of the same your bank? previously a partner at Locke Lord DRANK: kind of turnaround As we get bigger, the chal- Edwards. There’s no shortage of banks in Ⅲ Mr. Cummings that we went through. lenge will be maintaining Savanna: had a can of Valerie Kitay, 39, joined the real New York. So where do you fit It would be attractive the culture we’ve created. I estate private-equity and asset Coca-Cola in? to us. Valley National want us to get to 4,000 em- management firm as general counsel. PRICE: 85 cents She was previously counsel at Hunton & By serving small and mid- is very attractive, too, ployees in the years to come, Williams. size businesses. A lot of the but it would be a which is more than double D&B Engineers and banks that once did that are gone, tougher acquisition because its where we are now,and it’s im- Architects: Frank like North Fork, Commerce and stock is more highly valued than portant that we remember Genese, 55, joined the Summit. Many that have replaced ours. how we got here. Manage- environmental them, places like Signature Bank ment has to impart what’s im- engineering and and New York Community, spe- Have you been in touch with Astoria portant, but we also have to architecture firm as cialize in particular parts of the about a deal? take an active interest in our vice president. He was previously vice market. We take a broader ap- I don’t want to make this conversa- employees and help them devel- president for capital proach and now have $1.5 billion tion all about acquisitions. op their careers. We also have and facilities management at Queens worth of business checking ac- fun, such as on a recent Friday Library. counts, whereas we didn’t have any How would you describe your bank’s night we had a talent show that Cooper Robertson: Yanko Apostolov, 41, to speak of a decade ago. relationship with activist investor Cliff raised money for Ronald McDon- joined the architectural and urban Robbins, who’s a big shareholder? ald House. About 300 employees design firm as design director. He was Where are you looking to grow? We’ve met with him or his portfo- and their guests came. I picked up previously owner of Yanko Apostolov Staten Island is a focus right now; lio managers many times, and the bar tab and spent the night mix- Architects. Ⅲ eNeighbr.com: Phil Coad, 49, joined the we just added a branch there.I’d like everything he said we should do, ing it up with people. consumer delivery-service startup as

brand manager. He was previously chief buck ennis marketing officer at Platinum Limousine. PLAY/LIST People, places and things that make Kevin Cummings tick TD Bank: Ilya Mekhtiyev, 28, was promoted to store manager of the location at Second Avenue and East QUICK LEARNER: became a partner, and worked at colleague asked if he knew baseball 49th Street. He was previously assistant A New Jersey native, Mr. Cummings the accounting firm for 26 years anyone interested in the chief in college store manager. attended Middlebury College in before joining Investors Bank in operating officer job at Investors and roots for —carly apar Vermont and got his M.B.A. from 2003. Bank, Mr. Cummings raised his both the Yankees and Mets. “I Rutgers University in 1977 in only hand. “I was ready grew up watching the Yankees EXECUTIVE PROMOTIONS 14 months. Because he finished his AUF WIEDERSEHEN: for a midcareer move,” he said, on TV with my dad,” he said, The fastest way to get an announcement into master’s so quickly, his tuition bills After taking 30 trips to Frankfurt in “and the bank was close to fondly remembering when play-by- Crain’s is to submit online. Fill out the form home.” play man Mel Allen would sneak in at www.crainsnewyork.com/section/ were only $2,300. a 10-month stretch early last executive_moves. The Executive Moves column decade to visit a key client— the name of the team’s sponsor by is also available online. LOYAL EMPLOYEE: Deutsche Bank—he was ready for PLAY BALL: describing home runs as He joined KPMG after graduation, something else. When a former He played basketball and “Ballantine blasts.”

May 4, 2015 | Crain’s New York Business | 21 20150504-NEWS--0022-NAT-CCI-CN_-- 5/1/2015 3:50 PM Page 1

SNAPS Fashion rallies for longtime Citymeals-on-Wheels board member Citymeals-on-Wheels honored long-serving board member Ruth Finley on her 95th birthday. Ms. Finley joined the organization’s board 32 years ago, just two years after it was founded to bring meals to the homebound elderly. Ms. Fin- ley—the founder of the Fashion Calendar, the industry bible of event listings—has raised more than $2 million for the nonprofit, which was started by restaurant reviewer Gael Greene and cookbook author James Beard.

Coro New York Leadership Center, which provides programs to groom the next generation of civic leaders, held an April 22 gala at Gotham Hall. JOHN H. ALSCHULER, chairman of HR&A Advisors Inc., and SURI KASIRER, president of Kasirer Consulting, were honorees at the event, which raised $745,000. marc hall

Sponsor for Educational Opportunities board chair HENRY KRAVIS and MARIE-JOSÉE KRAVIS at an April 27 fundraiser for the organization, which provides education and career programs for underserved youth.

Fashion designer JOANNA MASTROIANNI and RUTH FINLEY at the April 20 Citymeals-on-Wheels cocktail reception, which raised $68,000. The Citymeals-on-Wheels party was held at Upper Story by Charlie Palmer, a café and event space. Designers MARK BADGLEY and JAMES MISCHKA

eric vitale attended.

Chef MARIO BATALI, television personality MICHAEL STRAHAN and rock star JON BON JOVI at the April 21 fundraiser for Food Bank for New York City, which raised more than $2 million. SEO’s fundraiser at the Waldorf Astoria brought in $3.8 million and was attended by former schools Chancellor DENNIS WALCOTT, former Mayor MICHAEL BLOOMBERG and the organization’s founder, MICHAEL OSHEOWITZ.

Food Bank CEO MARGARETTE PURVIS, Gov. ANDREW CUOMO and chef and TV personality SANDRA LEE at the Cipriani Wall Street event to raise money for New Yorkers in need. The governor spoke at the fundraiser, and Ms. Lee was one dimitrios robinson/getty kambouris and thos images of the honorees. entertainment rick gilbert/skyhook

See more of this week’s Snaps online at CrainsNewYork.com/galleries.

22 | Crain’s New York Business | May 4, 2015 20150504-NEWS--0023-NAT-CCI-CN_-- 5/1/2015 2:23 PM Page 1

FOR THE RECORD

Seeks competitive sealed bids by 10:30 The landlord was represented by Dino and CEO, sold 37,500 shares of a.m. on May 18 for printed election Mouzakitis and Colby Swartz of Suzuki common stock between April 16 and ABOUT THIS SECTION supplies. For a copy of the bid, visit the Capital. The rent was $88 per square April 20, at prices ranging from $65.91 FOR THE RECORD is a weekly listing of information from the public record that City Record Online at http://a856- foot. to $67.77 per share, in a transaction can help businesspeople in the New York area find opportunities, potential internet.nyc.gov/nycvendoronline/home worth $2,505,506. He now indirectly .asp, or contact Vendor Relations at holds 37,762,500 shares. new clients and updates on competitors. [email protected] or STOCK TRANSACTIONS To ask questions or get more information on this section, contact Crain’s (212) 386-0044. To make inquiries, ⅷ Morgan Stanley (MS) research department at [email protected]. contact Jeanette Chung at Following are recent insider transactions at James A. Rosenthal, chief operating (212) 386-0465 or [email protected]. New York’s largest publicly held companies officer and executive vice president, sold filed with the Securities and Exchange 50,030 shares of common stock at a ⅷ Office of the Comptroller Commission by executives and major price of $37.10 on April 21, in a NEW IN TOWN protection on April 23. The filing cites Requests proposals by 2 p.m. on May 21 shareholders. Listings are in order of transaction worth $1,856,113. He now estimated assets of $10,000,001 to for financial-statement, single-audit and transaction value.The information was indirectly holds 268,332 shares. Companies that would like to have details $50 million and estimated liabilities of related services by a qualified obtained from Thomson Reuters. of openings published should submit $1,000,001 to $10 million. independent certified public accounting On the same day, Eric F. Grossman, descriptions following this format to cnyb- firm. To make inquiries, contact Maria ⅷ Bed Bath & Beyond (BBBY) chief legal officer and executive vice [email protected], with “New ⅷ Fontaine Partners Nicola at (212) 669-8211 or Leonard Feinstein, co-chairman, president, sold 34,481 shares of common in Town” in the subject line. 135 W. 70th St. [email protected]. exercised options on 165,970 shares of stock at a price of $37.10 per share, in a Filed for Chapter 11 bankruptcy common stock on April 13, at prices transaction worth $1,279,314. He now ⅷ Rebelle protection on April 20. The filing cites ranging from $28.33 to $32.87 per directly holds 124,646 shares. 220 Bowery estimated assets of $1,000,0001 to REAL ESTATE DEALS share, in a transaction worth $5,071,337. The wine-centric restaurant combines $10 million and estimated liabilities of On the same day, he sold 165,970 shares ⅷ Children’s Place Inc. (PLCE) French tradition with American savoir- $500,001 to $1 million. The creditors Companies that would like to have details of common stock at a price of $73.12 per Jane T.Elfers, chief executive and faire. Dishes include beet Bourguignon, with the largest unsecured claims are of their recent transactions appear in these share, in a transaction worth president, sold 17,857 shares of common and duck breast with endives, oranges Kirkland & Ellis, owed $273,689.73; listings should email descriptions following $12,135,577. He now directly holds stock between April 22 and April 23, at and smoked almonds. The cocktail Sigma Group, owed $268,593.77; and this format to cnyb-research@crainsnew 1,435,530 shares. prices ranging from $61.52 to $62.15 menu features classics like the Sidecar Theodore J. Deutz, owed $203,636.83. york.com, with “Real estate transaction” in per share, in a transaction worth and Alexander. the subject line, or enter them online at ⅷ SalesForce.com (CRM) $1,099,669. She now directly holds ⅷ Loup Hacking Corp. crainsnewyork.com/submitadeal. Deals are Marc Russell Benioff, founder, chairman 288,836 shares. Ⅲ ⅷ Rosie’s 1655 Flatbush Ave., Brooklyn listed in order of square footage. 29 E. Second St. Filed for Chapter 11 bankruptcy Chef Marc Meyer and Cookshop’s Vicki protection on April 21.The filing cites COMMERCIAL Freeman have opened an East Village estimated assets of $1,000,0001 to $10 ⅷ Investment advisory firm Owl Creek DEALS ROUNDUP restaurant specializing in authentic million and estimated liabilities of Asset Management signed an early lease Mexican cuisine. The eatery uses $1,000,001 to $10 million.The creditor renewal for 17,588 square feet at the 22- TRANSACTION SIZE traditional techniques, such as grinding with the largest unsecured claim is Arthur story 640 Fifth Ave., owned by Vornado TARGET/SELLERS (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE fresh masa and cooking on a comal pan, Cab Leasing Corp., owed $123,114. Realty Trust. The deal, for the entire and features such traditional fare as a 20th and partial 21st floors, is for five KTR Capital Partners, $5,900.0 Norges Bank Investment SB M&A house-made tortilla. years and five months. The tenant was real estate assets and operating Management; Prologis Inc. platform/KTR Capital Partners GOVERNMENT CONTRACT represented by Alexander Chudnoff of (Manhattan) ⅷ West Elm Makers Studio OPPORTUNITIES JLL, and the landlord was represented 33 34th St., Sunset Park, Brooklyn in-house by Vornado’s Jared Solomon Madrileña Red de Gas S.A.U./ $2,226.5 Électricité de France SA; SB M&A Morgan Stanley Infrastructure Inc. Gingko Tree Investments; PGGM The furniture and design store opened a Following are selected contract and Glen Weiss. Asking rents in the (Manhattan); Morgan Stanley state-of-the art creative workspace at opportunities recently announced by New tower range from $105 to $120 per Investment Management Inc. Industry City in Brooklyn. The York City agencies.To learn how to sell square foot. (Manhattan); Partners Group expansive facility is 11,600 square feet goods and services to city government, visit Holding AG ⅷ and provides a collaborative www.nyc.gov/selltonyc. For a searchable Cambridge in America, the Scholastic Corp., educational $575.0 Houghton Mifflin Harcourt Co. SB M&A environment for more than a dozen database of current procurement notices, organization that supports Cambridge technology and services business/ artists, designers and craftsmen for West visit www.nyc.gov/cityrecord. Listings are University and its alumni on this side of Scholastic Corp. Elm products. alphabetical by category and department. the pond, signed a 10-year lease for (Manhattan); Scholastic 10,281 square feet at the Hippodrome Inc. (Manhattan) CONSTRUCTION SERVICES Building at 1120 Sixth Ave. The Ticketmonster Inc. (46.1%)/ $360.0 Anchor Equity Partners; KKR & Co. FB M&A COMPANY MOVES ⅷ Department of Design and Construction organization will move from its current Living Social Korea Inc. (Manhattan) Seeks competitive sealed bids by 2 p.m. 6,000-square-foot location at 292 Palmetto Bancshares Inc./ $243.2 United Community Banks Inc. SB M&A Companies that would like to have details on May 18 for the implementation of Madison Ave. The tenant was CapGen Capital Advisors of recent moves published should submit energy-conservation measures at four represented by Cushman & Wakefield’s (Manhattan); Maltese Capital descriptions following this format to locations in the Bronx and Staten Island. Robert Constable and Jonathan Management (Manhattan); Patriot Financial Partners; [email protected], A bid-document deposit of $35, payable Luttwak. Edison Properties, the Banc Funds Co. with “Company Moves” in the subject line. by company check or money order, is landlord of the 21-story property, was Funding Circle Ltd./ $150.0 Baillie Gifford & Co.; BlackRock Inc. GCI required. Bid documents are available at represented by Cushman & Wakefield’s not disclosed (Manhattan); DST Global; individual ⅷ Untitled at the Whitney nyc.gov/buildnyc. To make inquiries, David Berke, Michael Burgio and Gus investors; Sands Capital Management; 99 Gansevoort St. contact Emmanuel Charles at (718) Field. The asking rent was not Temasek Holdings (Pvt.) Ltd. Danny Meyer’s restaurant at the 391-3170 or [email protected]. disclosed. Oscar Insurance Corp./ $145.0 Breyer Capital; Formation8 Partners; GCI Whitney Museum of Art relocated not disclosed General Catalyst Partners; Goldman ⅷ along with the museum from 945 Department of Parks and Recreation RETAIL Sachs Group, Merchant Banking Madison Ave. The vegetable-driven Seeks competitive sealed bids by 10:30 ⅷ Hair Club for Men signed a 10-year Division (Manhattan); individual menu features dishes such as salted a.m. on May 20 for the in-kind lease of 8,487 square feet at 1 Exchange investors; Khosla Ventures; radish, fluke and cucumbers. reconstruction of deteriorated electrical Plaza at 55 Broadway, a 32-story, Founders Fund; Thrive Capital systems at various parks and recreation 360,000-square-foot building. The (Manhattan); Wellington Management Co. pool facilities citywide. Bid documents tenant was represented by Ken Signature at Doral (Fla.)/ $103.5 AMLI Residential Properties Trust SB M&A BANKRUPTCIES are available in the Blueprint Room, Ruderman of Savills Studley.The Area Property Partners Room 64, Olmsted Center, Flushing landlord, private real estate investment (Manhattan); CC Doral Pebblewalk The following listings are selected from the Meadows Corona Park, Queens, for a firm Harbor Group International, was most recent available filings by companies $25 fee payable by company check or represented by CBRE’s Brad Gerla. Dimension Therapeutics Inc./ $65.0 Fidelity Biosciences; Jennison GCI not disclosed Associates (Manhattan); New seeking bankruptcy protection in the money order to City of New York, Parks The asking rent was $60 per square Leaf Venture Partners (Manhattan); Southern and Eastern Districts of New and Recreation. To make inquiries, foot. OrbiMed Advisors (Manhattan); York. Information was obtained from U.S. contact Michael Shipman at (718) 760- Partner Fund Management; RA Bankruptcy Court records available on 6705 or [email protected]. ⅷ Coffee and food-on-the-go shop Pret a Capital Management; Regenx Public Access to Court Electronic Records. Manger signed a 15-year lease for 2,100 Biosciences; Rock Springs Capital Listings are in alphabetical order. ⅷ Department of Transportation square feet at the ground level and 1,789 Management; Tourbillon Global Ventures Requests proposals by 2 p.m. on May 19 square feet in the basement of 4 Bryant Vessel Group Inc./ $57.5 Benchmark Capital; Bezos Expeditions; GCI ⅷ 248 Avenue X LLC for resident engineering inspection Park.The tenant was represented by not disclosed Greylock Capital Management 248 Ave. X, Brooklyn services in connection with the Michael Paster, Ariel Schuster and Jackie (Manhattan); Institutional Venture Partners Filed for Chapter 11 bankruptcy rehabilitation of the Henry Hudson Totolo of RKF.The landlord,Ten Jounce Therapeutics Inc./ $56.0 Casdin Capital (Manhattan); GCI protection on April 22. The filing cites Parkway viaduct from West 72nd to West Seventy One Associates, was represented not disclosed Cormorant Asset Management; estimated assets of $100,001 to 82nd streets, and from West 94th to West by David Levy of Adams & Co.The Foresite Capital Management; $500,000 and estimated liabilities of 98th streets. A deposit of $50 is required asking rent was $840,000 annually. Inbio Ventures; Nextech Invest Ltd.; Omega Fund Management (U.S.) Inc.; $1,000,001 to $10 million. The creditors for the proposal documents, payable by Redmile Group; Wellington ⅷ with the largest unsecured claims are certified check or money order to New Locally sourced Japanese restaurant Management Co. 440 Alfred Lepore, owed $455,000; and York City Department of Transportation. Wasan signed a 10-year lease at Selected deals announced for the week ended April 23 involving companies in metro New York. NYCTL-MTAG, owed $400,000. To make inquiries, contact the Bid Bergen St. in Park Slope, for 1,100 SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing shares of a Window at (212) 839-9435. square feet on the ground floor and 700 company without the participation of a financial buyer. FB M&A: Financial buyer M&A represents ⅷ Botanical Realty Associates Urban square feet in the basement. Tenant a minority or majority acquisition of existing shares of a company with the participation of a finan- Renewal GOODS AND SERVICES Toshi Koizumi did not have a broker. cial buyer. GCI: Growth capital investment represents new money invested in a company for a 1877 E. Ninth St., Brooklyn ⅷ Department of Citywide Administrative The restaurant currently has a spot in minority stake. source: capitaliq Filed for Chapter 11 bankruptcy Services the East Village at 108 E. Fourth St.

May 4, 2015 | Crain’s New York Business | 23 My Town

Town Residential LLC (“Town”) is a licensed real estate broker and a partnership of Buttonwood Residential Brokerage LLC and Thor Equities, LLC. O: 212.398.9800. Ginger Brokaw is licensed as Ginger C Brokaw and is a licensed associate real estate broker with Town Fifth Avenue LLC. Town Fifth Avenue LLC is a subsidiary of Town and a licensed real estate broker. O: 212.242.9900 broker. real estate and a licensed Town LLC is a subsidiary of Avenue Town Fifth LLC. Avenue Fifth Town with broker real estate is a licensedand associate Brokaw C Ginger is licensed as Brokaw Ginger O: 212.398.9800. LLC. Equities, Thor and LLC Brokerage Residential Buttonwood of a partnership and broker estate is a licensed real (“Town”) LLC Residential Town Our Neighborhood. Your Home. Ginger Brokaw, New York City Power Broker “I define my day basis. I cannot think of another city in the world that has the neighborhood as the Upper East Side, where I live and represent same energy. Each neighborhood has a different vibe and brings a great majority of my business. It is really difficult to pick just its own uniqueness to New York City. It is the collection of these one neighborhood as my favorite because there neighborhoods and the people within them that are so many that I get to experience on a day-to- make this town. New York City is my town.”

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