20121126-NEWS--0001-NAT-CCI-CN_-- 11/21/2012 5:53 PM Page 1

THE FUTURE OF MANUFACTURING MAY BE IN THIS BOX Bre Pettis and the FPO MakerBot Replicator 2 CRAIN’S® PAGE 3 NEW YORK BUSINESS

VOL. XXVIII, NO. 48 WWW.CRAINSNEWYORK.COM NOV. 26-DEC. 2, 2012 PRICE: $3.00 Ship glut Last Air Rights sinks A holy trinity says midtown global rezoning is their best hope to raise cash for their tanker biz sacred landmarks. ST. PATRICK’S Worst downturn hits If only the city agreed CATHEDRAL titans who’ve roamed sits on about 1.2 million square feet NY waters since the of development rights, but has no Dutch anchored here way yet to sell them. BY AARON ELSTEIN

The shipping business,a key cog in the local economy since the Dutch creat- ed New Amsterdam, is experiencing the ugliest collapse in its long history. No less than 90% of global shipping companies are in deep financial dis- tress, according to investment bankers and industry analysts. About a dozen major operators have filed for bank- ruptcy in the past year, including the largest U.S. tanker operator, New York-based Overseas Shipholding Group Inc., in mid-November. Oth- ers, overwhelmed by sinking shipping rates, submerged ship values and crushing debt loads, are desperately See SHIPPING on Page 25 Tavern’s new team speaks out

BY DANIEL GEIGER city’s most prominent landmarks, have about 2 million Despite thrashing in square feet of air rights among them—a trove that could be the local media, Philly Four months after the city unveiled a preliminary plan to worth $400 million or more—that they have never been spur new development in the heart of midtown, three able to sell. The trio sees the city’s proposal, designed to restaurateurs forge on prominent houses of worship in the neighborhood are spur construction of a new generation of bigger, state-of- with Central Park site pressing their case to get a share of the cash bonanza the the-art office buildings in the core midtown business dis- proposal is expected to generate. trict, as a golden opportunity to finally cash in. BY LISA FICKENSCHER St. Patrick’s Cathedral, St. Bartholomew’s Church and In order to do so, they want the city to allow them the Central Synagogue, whose ornate buildings are among the See LAST RIGHTS on Page 28 Philadelphia restaurateurs Jim Caiola and David Salama celebrated this

buck ennis summer when they were selected by the Bloomberg administration over several local heavyweights to run REPORT REAL ESTATE Tavern on the Green.But their joy was Builders get hammered by huge rise quickly tempered by a torrent of criti- in insurance costs P. 15 cism about their qualifications. ELECTRONIC EDITION The partners,who for 15 years have THE LIST Largest commercial property owned Crêperie Beau Monde and L’Etage 624,a restaurant and lounge in NEWSPAPER managers P. 19 See TAVERN on Page 28 20121126-NEWS--0002-NAT-CCI-CN_-- 11/21/2012 5:36 PM Page 1

STATS AND THE CITY

HURRICANE SANDY’S human toll has taxed the ability of the city and nonprofit agencies to cope with a rise in the number of homeless. FYICRAINSNEWYORK.COM 200+ Homes slated for razing by the city after Sandy. The storm made as many as 40,000 residents homeless 1 (national) election down, 11,000 1 (NYC) election to go Number of families with children in the city’s 226 homeless shelters last year nd then there were four.The remaining Democrats jockeying to be mayor in $908M 2013 are scrambling for a share of the Spending by the Department of Homeless Services in A turf left behind by Manhattan Borough FY2012, 15% over budget President Scott Stringer (right), who aban- doned his bid to move into Gracie Mansion -25% and will aim to be city comptroller instead. Drop in the number of Food Bank for NYC’s pantries and newscom soup kitchens since 2007, to 742 Council Speaker Christine Quinn’s camp stresses that she is the natural alternative for Mr. Stringer’s supporters. Public Advocate Bill de 2.2M Blasio’s people put a finer point on it, predicting that their man will perform well in the vote-rich Meals served in Sandy-hit areas Nov. 1 to 19 by the city, Upper West Side that is Mr. Stringer’s base. Former city Comptroller Bill Thompson is setting his Salvation Army, National Guard and NYC Food Truck Association sights on erstwhile Stringer supporters in northern Manhattan, and current city Comptroller John Liu is saying that there now may be room for more entrants to the race. Sources: NYC Dept. of Buildings, NYC mayor’s office and Food Bank for New York City Tom Allon istockphoto The four Dems—plus newspaper publisher , who is running as a Republican— strutted their putative mayoral stuff at a gathering at Fordham University, where they discussed DRIFTING DOWNWARD the future of the city’s school system. Voters looking for a lot of light between the candidates’ Last winter was one of the kindest in recent memory in terms of snowfall positions may have been disappointed. On the key question of a top-down, mayor-controlled totals, which fell 90% from a year earlier. As for this year, who knows? school system, all cast their ballots with the man who minted it, Michael Bloomberg. Each did find some points of difference. —andrew j. hawkins Snowfall (inches) 61.9 51.4 RUPERT ROARS ANEW. In the first of committee. Chase’s asset manage- what looks like a string of acquisi- ment chief, Mary Erdoes, is the only HOORAY! 27.6 tions, Rupert Murdoch’s News other woman on that committee. … GAS Corp.bought a 49% stake in the Yan- THE POWER IS WITH THEM. In a major RATIONING finally ended in 11.9 kees’ regional sports channel, YES coup for the Federal Reserve Bank of 7.4 the five Network. The move is seen as the New York and a reaffirmation of its boroughs on media mogul’s return to big-league sweeping power in a financial crisis, a Nov. 23. 2007-08 2008-09 2009-10 2010-11 2011-12 dealmaking after his British newspa- federal district court judge threw out Source: National Oceanic and Atmospheric Administration per arm was mauled in a phone- a $25 billion lawsuit brought against hacking scandal that began last year. the bank by Maurice Greenberg, for- ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY Meanwhile, Mr. Murdoch had to mer CEO of insurance giant Ameri- apologize publicly last week after he can International Group. He had ac- complained in a tweet heard round cused the Fed of illegally bailing out OY VEY! the world that what AIG at the expense of CELLPHONE THIS WEEK IN CRAIN’S he called “the Jewish- the company’s share- service in 30 owned press” was ‘They have holders during the more subway stations was IN THE BOROUGHS------3 “consistently anti- been to hell 2008 market collapse. delayed until Israel in every crisis.” The court basically February. IN THE MARKETS------4 … THE VERY BEST and back, but said the Fed did what Blame Sandy. THE INSIDER ------6 PERSON. JPMorgan these kids was needed to pre- Chase has a new chief serve the financial BUSINESS PEOPLE ------8 financial officer. need system. End of story. OPINION ------10 Chief Executive …RAILS TO RUINS. Jamie Dimon called instruction’ Superstorm Sandy ALAIR TOWNSEND ------11 his choice “the best —Merryl Tisch, chancellor has awakened a sub- GREG DAVID------11 person for the job.” of the state Board of way line that has Haven Avenue and Beach 90th What is different is Regents, explaining the slumbered for almost Street stations.…SANDY CLAWS. Job- SMALL BUSINESS------12 that the new holder decision to cut three days 50 years.What is now less claims jumped 33% in the week from the winter break for REPORT: REAL ESTATE------15 of the title is Mari- teachers and students to designated as the H after the storm, as 46,000 more New anne Lake, who just train, a shuttle serv- Yorkers filed for unemployment ben- THE LIST ------16 make up days lost to happens to be female, Superstorm Sandy ing the hard-hit efits. There were already 140,000 to REAL ESTATE DEALS------NEW YORK, NEW YORK 20 and now becomes, at Rockaway Peninsula, 150,000 folks receiving benefits in 43, one of the most powerful women resumed operations on Nov. 20. The the months leading up to Sandy. For a different kind of holiday CLASSIFIEDS ------22 on Wall Street. She won her promo- transit system connecting the area to Gov. Andrew Cuomo called the meal, try a walking food tour. FOR THE RECORD------24 tion after holding the same role at the the rest of the city was wiped out— surge “a troubling sign” that could Crain’s found some new and bank’s sprawling consumer banking the A train to the area is still down. widen a state budget gap that had al- some tried and true ones that SOURCE LUNCH------30 unit. Her new gig comes with a seat The H train will run 20 hours a day ready been expected to reach $1 sound, well, delicious. P. 29 OUT AND ABOUT ------31 on the company’s powerful operating between the Far Rockaway-Mott billion. —amanda fung CORRECTION Jerry Goldfeder’s Modern Election Law was first published five years ago. The date was given incorrectly in the Oct. 29 “Goldfeder’s election arcana.” STORIES TO WATCH THIS WEEK vol. xxviii, no. 48, november 26, 2012—Crain’s New York Business (issn 8756-789x) is pub- lished weekly, except for double issues the weeks of July Fourth, Labor Day and Christmas, by Crain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at Nov. 26: Cyber Nov. 27: Inaugural Nov. 28: Lighting Nov. 29: Sotheby’s New York, N.Y., and additional mailing offices. Postmaster: Send address changes to: Crain’s Monday. Online “Giving Tuesday.” of the Rockefeller annual fall auction New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (877) 824-9379. Fax (313) 446-6777.$3.00 a copy, $99.95 one retailers rejoice. People are encour- Center Christmas of American Art year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2012 by Crain Communications Inc. All rights reserved. aged to donate to tree worthy causes.

2 | Crain’s New York Business | November 26, 2012 20121126-NEWS--0003-NAT-CCI-CN_-- 11/21/2012 5:54 PM Page 1

IN THE BOROUGHS QUEENS Above the flooded plain Preventive measures help new high-rises survive superstorm

BY ANNIE KARNI Sandy’s high tide receded, and the DIY IN NYC: Bre buildings on the waterfront in Long Pettis took do-it- yourself culture to its Island City stood like sentries on the next step: a printer coast—dry, fully inhabited and that makes everyday powered up almost as though no su- objects. perstorm had ever occurred. While many businesses and res- idences in this low-lying neighbor- hood in western Queens suffered major damage after taking on about five feet of water, new high-rise res- idential buildings, as well as the de- velopment site at Hunter’s Point South, rode out the storm with little or no damage. The success of these new devel- opment projects on the shore—all of which have sprung up over the past six years—is a powerful example of how smart wa- terfront devel- MakerBot on the move opment can 30 withstand rising ACREAGE OF Hunter’s Point buck ennis seas and brutal South storms. And ing a professional-quality device that non- they underscore 3-D printing is coming to the masses—and the techies could use and ordinary people could af- how cost-effec- 900 ford. He believes he has gotten there with the tive planning for RESIDENTIAL industry’s biggest manufacturer is in Brooklyn Replicator 2, which works straight from the box a deluge had al- UNITS to open in 2014 at and sells for $2,200—far below the cost of a pro- ready begun the Queens printer industry is that its biggest manufacturer fessional-grade 3-D printer, which starts at long before development site BY MATTHEW FLAMM sits in an old brewery building in Brooklyn, and $10,000 and can go as high as $1 million. Sandy triggered its leading figure is a do-it-yourself enthusiast Released in September, the company’s a new round of Just the notion of a desktop three-dimensional and former middle-school art teacher with no fourth-generation machine creates bigger ob- panicked dis- 9.5 printer—which can turn out chess pieces,for in- engineering background. FEET above sea jects with finer layers than its predecessors, and cussions about level of high-rises stance, by layering heated plastic filament—has Ever since Bre Pettis launched MakerBot In- is aimed at designers,hobbyists and “people who multibillion- that withstood a fanciful, Willy Wonka ring to it. But perhaps dustries in 2009 with a printer that had to be as- like to make stuff,” Mr. Pettis said. Confident dollar sea walls, Hurricane Sandy the strangest thing about the budding 3-D sembled from a kit, he has dreamed of produc- See MAKERBOT on Page 26 floodgates and buried power lines. “We deliberately brought all of our building sites up to at least nine feet—that’s 1.5 feet above the flood plain,” said Jon McMillan, director Mission unmoored of planning for the developer TF Cornerstone, which has constructed seven high-rise condominium and rental buildings near the water, on in Coney Island the northern edge of Long Island City.The last two high-rises that will people a month.The mission, which has an annu- complete the development, known Tiny soup kitchen walloped al budget of $293,000, has no reserve fund or as EastCoast, are under construc- by Sandy tries to recover. wealthy board members to prop it up, and insur- tion.Legally,developers can build as ance will cover only a fraction of the expenses. low as 7.5 feet above sea level, as Many groups in same boat “If we don’t get the money, I won’t be able to measured from Sandy Hook, N.J. rebuild,and that’s the bottom line,”said the Rev. But TF Cornerstone chose to build Vincent Fusco, who started the mission in 2004 higher with disaster scenarios like BY THERESA AGOVINO and runs it along with a small nondenomination- Sandy in mind, Mr. McMillan said. al church located in the same space. He’s trying “That was the first thing that Over the course of six days after Superstorm to salvage the nonprofit as he tries to fix up his worked well for us,” he said. “The Sandy, scores of volunteers at Brooklyn’s Coney own Rockaway, Queens, home, which was also water never even got to the ground Island Lighthouse Mission tossed contaminat- badly damaged in the storm. NO ENDOWMENT, NO POWER BOARD: floor.” ed food, ripped moldy plywood from the walls, Mr.Fusco’s dilemma is shared by hundreds of The Rev. Vincent The EastCoast buildings, which and hauled out rusted appliances. tiny, storm-damaged nonprofits that have man- Fusco is trying to will include 3,500 units when com- With the demolition nearly complete,the mis- aged to play central roles in their communities salvage the Coney plete, were also built without base- sion faces a more vexing problem:where to find the despite running on shoestring budgets. Now Island Lighthouse ments. “Basements are usually for roughly $100,000 needed to rebuild the decimat- there’s a fear they may get lost in the shuffle as MIssion. utilities and mechanics that make a

ed food pantry and soup kitchen that serves 4,000 See MISSION on Page 25 buck ennis See ABOVE on Page 26

November 26, 2012 | Crain’s New York Business | 3 20121126-NEWS--0004-NAT-CCI-CN_-- 11/21/2012 5:38 PM Page 1 IN THE Health care’s shrinking dollar MARKETS squeezes small-time doctors by Aaron Elstein

BRUCE BENT AND Practices sell out as service a doctor performs, they have emergency rooms. BRUCE BENT II begun to pay lump sums per patient, Many, like Dr. Latreille, cannot were cleared of civil big hospitals and forcing doctors to more efficiently compete. Instead, they’ve sold out. fraud charges manage the health of patients,espe- “Physicians reached the tipping brought by the SEC. insurers angle for cially those with chronic illnesses. point, with shrinking reimburse- To adapt, doctors have been ments and higher expenses,” said edge amid reforms forced to change the way they prac- Dr.Louis McIntyre,a White Plains tice. They have to stay open longer, orthopedic surgeon who with his BY GALE SCOTT use electronic records, keep better partners sold their practice to White tabs on patients with chronic ill- Plains Hospital last year. Trying to stem losses at his primary- nesses and make other changes Five years ago, about half the care practice a few years ago, doctors in New York were in private William Latreille faced a choice.He practice.Now they are in the minor- could sell his upstate office to a hos- ‘Physicians ity: About 70% are employed either pital, becoming its employee. Or he by a hospital, a health system or a could sign an insurance-company reached the large doctors’ group, according to contract that paid him more but dic- the Medical Society of the State of tated how he practiced medicine. tipping point,’ New York. ap images “I was really in the red,” he said. Private practices, though, aren’t Dr. Latreille’s circumstances said one doctor simply vanishing. They are coming have become increasingly common under the control of hospitals and Why SEC whiffs for New York doctors.Private insur- insurers, either by being acquired or ers and government, as part of by entering into contracts that force health reform’s cost-cutting, are doctors to follow new rules. on prosecutions changing the way they pay for care. aimed at keeping patients healthy North Shore-LIJ, for instance, Rather than reimburse for every and out of expensive hospitals and See DOCS on Page 14 t’s been a bad few weeks for the Securities and Exchange Commission’s efforts to hold prominent Wall Street executives accountable for actions that contributed to the cohnreznick.com I financial crisis. A Manhattan jury in mid-November cleared Bruce Bent and Bruce Bent II, the father-son heads of money-market fund company Reserve Management, who the FORWARD THINKING SEC charged with misleading customers after their fund “broke the buck” in the fall of 2008. appropriate place to rule on that CREATES RESULTS. Days later,the SEC dropped its suit charge, since the transaction oc- against Wall Street executive Edward curred overseas. The judge also dis- Steffelin J.H. Cohn and Reznick Group are now CohnReznick. When it comes to ,the only individual charged missed a charge involving a Dutch in a case involving a toxic mortgage- bank. The SEC appealed the ruling success, it’s not just what’s now—it’s what’s next. With partner-level related security created by JPMorgan involving the German bank,which a service and an unprecedented combination of deep industry expertise, Chase, which earlier had paid $154 judge denied last week. experience and insight, CohnReznick helps move your business ahead. million to settle the matter. The commission nonetheless Always driving. Always delivering. That’s forward thinking. That’s CohnReznick. And last week,the SEC suffered has a shot at victory against Mr. a setback in its high-profile case Tourre. Still alive is the heart of the against Goldman Sachs’ Fabrice Tourre. SEC’s case, which alleges that Mr. The self-described “Fabulous Fab” Tourre misled investors and ACA was a junior banker and somehow Management, the firm that helped the only individual charged in the select the mortgages put into the se- SEC’s sensational 2010 fraud case curity that was designed to flop.But against Goldman. The investment last week’s ruling means Mr.Tourre bank settled the matter by paying will probably be able to settle for a $550 million, grudgingly acknowl- lesser amount. edging making “a mistake” when it The difficulty regulators have failed to tell customers that it sold had in winning these civil cases them a mortgage-related security against individuals seems to have that was intended to blow up and taught them to spend their time pur- benefit another client: famed suing Wall Street firms rather than hedge-fund manager John Paulson, the people who work in them. Last who had bet against housing and week, for instance, New York state had input in creating the deal. Attorney General Eric Schneiderman Although Goldman has moved filed a civil fraud suit against Credit on, the case against Mr.Tourre con- Suisse, alleging misdeeds in selling tinues and looks headed for trial next mortgage-backed securities. Not a summer.The lawyering is going full single individual was charged. In tilt. Mr. Tourre’s side scored some fact, not one person’s name appears points last week when a federal anywhere in the 32-page complaint, judge denied an SEC attempt to re- just titles like “head of due diligence” instate one of the fraud charges. and “senior RMBS traders.” The particular allegation centers Based on the attorney general’s on Mr. Tourre’s role in helping sell depiction of events, Credit Suisse $150 million of the junk-mortgage could quietly settle without having deal to a German bank. A judge said to cough up the decision-makers federal court in Manhattan wasn’t an who allegedly defrauded investors.Ⅲ Ken Baggett, CPA Joe Torre Tom Marino, CPA THE NUMBER OF SHOPPING DAYS Co-CEO World Champion Manager Co-CEO between Thanksgiving and Christmas. 32That’s a 6.3% increase over last year’s day count, owing to the earlier-than-usual CohnReznick is an independent Thanksgiving this year. For what it’s worth, analysts member of Nexia International Accounting Tax Advisory at brokerage ConvergEx Group expect Cyber Monday sales to rise 18% this year.

4 | Crain’s New York Business | November 26, 2012 ADT Business Solutions is now

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© 2012 Tyco Integrated Security. All Rights Reserved. Tyco and Tyco Integrated Security are marks and/or registered marks. Unauthorized use is strictly prohibited. All other marks are the property of their respective owners. 20121126-NEWS--0006-NAT-CCI-CN_-- 11/21/2012 5:39 PM Page 1 THE Lawyer goes from regs to riches INSIDER by Andrew J. Hawkins The man who wrote the city’s campaign rules is a hot hire A property tax break’s for candidates renewal stirs confusion

BY CHRIS BRAGG he Bloomberg administration last week said it will continue to honor Most New York City election an expired $430 million tax break lawyers would be happy to have one T client in the 2013 race to replace for hundreds of thousands of Mayor Michael Bloomberg. Lau- condo and co-op owners, rence Laufer has been juggling despite news that the state three. Legislature will not Mr.Laufer,who is widely viewed as one of the city’s top campaign fi- convene this year to nance compliance attorneys, is nav- renew it. But igating the city’s complex, taxpayer- uncertainty in funded elections system for Public Advocate Bill de Blasio, a leading Albany is Democratic mayoral contender;Re- fueling publican mayoral candidate George confusion in the city, McDonald; and Manhattan Bor- where property owners and real estate istockphoto ough President Scott Stringer,a De-

buck ennis insiders fear a 20% spike in tax bills. mocrat, who left the mayor’s race SPECIALIST: Laurence Laufer, a former campaign-finance regulator, now helps contenders for Nov.18 to run instead for city comp- elected office navigate—or overcome—the city program he helped design. Lawmakers were expected to extend the popular tax troller in 2013. break, retroactive to its June 30 expiration, in a special There’s a reason Mr. Laufer is so session before January. But Gov. Andrew Cuomo has said he sought after to steer candidates that brought him in to lead its city of private donations that can be ac- through the city’s campaign finance political activity practice, are rela- cepted by Mr. McDonald, which is is unlikely to call the session, leaving many issues, including regulations:He wrote many of them tively few (it’s a cyclical and some- anathema to the pro-campaign- the tax abatement, dangling. himself while serving as general what arcane business). finance-reform platform of his oth- The city’s Department of Finance nonetheless said it counsel for the New York City Moreover, the 50-year-old Mr. er mayoral client, Mr. de Blasio. Campaign Finance Board from its Laufer has a reputation as a fierce Mr. Stringer’s decision to switch would continue to apply the tax break to property owners’ inception in 1988 through 2000. and at times combative advocate races illustrates why Mr. Laufer’s bills, in the hope that it will eventually be retroactively Also, attorneys with the specific representing his clients in battles practice of having multiple clients in renewed. Only the state has the authority to renew it. expertise offered by Mr. Laufer and against his old employer. For in- the same political race can work in fellow election lawyer Angelo Gen- stance, he is planning to sue the New York City,despite the potential Paul Korngold, a partner at law new applicants to the abatement ova, a founding partner of the firm board to dramatically raise the size See FROM REGS on Page 25 firm Tuchman Korngold Weiss program to wait until Albany reap- Lippman & Gelles, said one suc- proves it.“Despite the fact that the cessful lawsuit could unravel the abatement is still being granted, whole process and send tax bills otherwise eligible co-op owners soaring for hundreds of thousands who file new applications have of property owners. been told that they must wait until “The city is acting illegally,” he the Legislature acts,” one source said. “All it takes is some gadfly to said. “This seems to me … a dou- start a lawsuit that asks what gives ble standard. Why should current the city the right to give away $400 abatement holders get an average million. If I were a rental owner, I $1,200 break that new applicants would be a little bit upset.” cannot get?” Condo and co-op owners have Mr. Korngold said he repre- been in limbo for months about the sents property owners in Brooklyn loss of an annual abatement worth, who have been prevented from re- on average, $1,200 per affected ceiving the abatement. “We put in apartment. “Co-ops and condos the application last year in ade- are very,very nervous as they try to quate time,” he said. “They never prepare realistic budgets,”said Mary put it into effect.” Ann Rothman, executive director of A Finance Department the Council of New York Cooper- spokesman could not confirm atives and Condominiums. whether new applicants were being “Without the abatement,” she blocked from the program. said, “the property-tax component The deal to extend the abate- of a maintenance bill for a co-op ment would also reauthorize a lim- will go up on the order of 20% to ited version of the J-51 tax incen- 22%.Condos … will directly expe- tive, which expired in December rience this terrible surprise.” 2011, and remove certain provi- The governor’s office,Assembly sions from the city’s 421-a pro- Democrats and Senate Republi- gram, which encourages develop- cans have a deal pending to increase ment of underused or unused land the abatements for owner-occu- by reducing property taxes for pied units to as much as 28.1% of years. But even those changes, fa- their assessed value over three years vored by the real estate industry, while phasing out breaks for non- now appear to be up in the air. owner-occupied units. But if De- “It’s caused all kinds of confu- mocrats take control of the state sion,” Mr. Korngold said. “No- Senate,that agreement could evap- body knows what’s going to hap- orate. pen because the bill hasn’t been Insiders say the city is telling done.” Ⅲ

Crain’s Insider, our award-winning politics newsletter, is now a blog. Read it every day at www.crainsnewyork.com/insider

6 | Crain’s New York Business | November 26, 2012 CN015564.indd 1 11/20/12 10:49 AM 20121126-NEWS--0008-NAT-CCI-CN_-- 11/21/2012 12:29 PM Page 1

BUSINESS 9.6% of NY households don’t have a bank account PEOPLE Source: Federal Deposit Insurance Corp.

EXECUTIVE MOVES ROVER CURIOSITY: Honeybee CFO Chris Chapman shows off the kind of tools that are helping Elektra Records: Jeff NASA rovers sift soil for signs of Castelaz, 40, joined life on the red planet. as president. He was previously co- founder and chief executive of Dangerbird Records. Wired: Scott Dadich, 36, was promoted to editor in chief of the technology magazine. He was previously vice president of editorial platforms and design. The Jordan Edmiston Group Inc.: Chris Calton, 42, joined the investment bank as managing director. He was previously managing director at Avondale Partners. NBCUniversal: Don Nash, 47, was promoted to executive producer of Today. He was previously senior broadcast producer at the show. Music Choice: Tom Soper, 35, was promoted to senior director of ad sales at the media and entertainment company. He was previously director of ad sales. Duff & Phelps: John Pollock, 48, was named a member of the health care investment banking team at the financial advisory and investment banking firm. He continues to hold the post of managing director. Parsons Dance: John Krasno, 59, joined the contemporary dance company as executive director. He was previously executive director at the Oklahoma City

buck ennis Ballet. Soho Rep: Cynthia Flowers, 30, joined GOTHAM GIGS the theater as executive director. She was previously director of development at Atlantic Theater Company. Catholic Big Sisters & Big Brothers: Thomas L. Webber, 65, joined the nonprofit as executive director. He They put Manhattan on Mars was previously superintendent and executive director of Edwin Gould Academy. RCA Records: Keith Naftaly, 45, was Honeybee Robotics helps NASA search for life promoted to executive vice president and head of artists and repertoire at The night NASA landed a $2.5 billion rover on Chapman said. “There are so many different the entertainment company. He was As the previously senior vice president, Mars, Chris Chapman sat anxiously at his things that could possibly go wrong.” ¶ Mr. artists and repertoire, at RCA/Jive spacecraft kitchen table, hands over his face. Hell’s Kitchen- Chapman, 62, did not intend to go into the space Label Group. Digitas: based Honeybee Robotics had devoted nearly a industry. He studied music as an NYU Adam lands, Shlachter, 36, joined decade to building two research tools aboard the undergraduate, and worked in the financial as senior vice president of media ‘you’re rover Curiosity, which was about to make the services industry in Ohio. He launched Honeybee at the integrated most complex rover landing in space history. in 1983 with his friend Steve Gorevan, who lured brand company. He waiting for Mr. Chapman, Honeybee’s co-founder and Mr. Chapman back to the Big Apple in 1986 to was previously managing partner signs of a CFO, was waiting that evening in August for work full time as the firm’s CFO. ¶ Honeybee and digital practice Curiosity to beam back its first signals. ¶ “You’re started as a firm specializing in parts that lead at MEC. pulse’ Fireman Hospitality Group: Paolo Del waiting for signs of a pulse,” Mr. Chapman said. automated steps along assembly lines, then earned Gatto, 48, was promoted to executive “It’s the thrill of victory and agony of defeat.” ¶ NASA contracts for robotic prototypes.The firm vice president of the restaurant group. landed without a hitch. In October, the is on track to earn $8 million in revenue this year. He was previously director of Curiosity operations. rover deployed Honeybee’s soil-sampling tools to One of its biggest breakthroughs came in 2003, Rob Marano, 38, joined as senior vice help it explore Mars’ rocky terrain and determine when Honeybee’s technology flew aboard the first president. He was previously regional supervisor at Hillstone Restaurant whether the red planet once had conditions of three Mars expeditions. “It’s exciting,” Mr. Group. friendly for life. Curiosity is the size of a car and is Chapman said. “We’ve been able to fly on some CBIZ MHM: Brian Ayers, 40, was promoted to director at the basically a space laboratory on wheels. “When cornerstone Mars missions.” accounting firm. He was previously you put all that together, it’s so complex,” Mr. —tania karas senior manager.

8 | Crain’s New York Business | November 26, 2012 20121126-NEWS--0009-NAT-CCI-CN_-- 11/20/2012 1:58 PM Page 1

Continued from Page 8 Karl Knechtel, 36, was promoted to CORPORATE LADDER director. He was previously senior manager. Deloitte: Lisa Dane, 42, joined the financial advisory services firm as director ‘CURATING’ THE OTHER SIDE OF THE STREET in its business intelligence services practice. “CURATE” IS A BUZZWORD these days, and curator is a hot job title. It no longer applies solely to someone who puts together She was previously managing director of museum exhibits. Financial news website TheStreet.com is the latest example. It recently named investment adviser Joshua forensic and litigation consulting at FTI Consulting. Brown, 35, curator in chief of its newest segment, Side Street, which will aggregate financial blogs. Doremus: Cate Mr. Brown is a vocal devotee of TheStreet.com, founded in 1996 by Mad Money host Jim Cramer. He gushes that The Street Downes, 37, was is “the Motown of Internet finance”—a place where the online financial news industry was founded. On Side Street’s first promoted to group post, Mr. Brown wrote: “I’ll be curating the very best of what my fellow independent bloggers have to say and bringing it account director at the here for one of the most sophisticated audiences anywhere on the Web.” communications Mr. Brown will select and exhibit about 10 independent blogs, aiming to present the smartest, most company. She was innovative and best-read financial bloggers previously account , as well as provide his own analysis, said Editor in Chief Bill Inman. director. “We hope to help independent writers who may not get much limelight and offer more visually compelling Stone Hill Fiduciary financial news, video of forum discussions and more mobile content that will really connect to all the millennials,” Management: Caryn S. Newman, 51, Mr. Inman said. —EVA SAVIANO joined the investment adviser and independent fiduciary as director of plan investment fiduciary services and director of plan administration fiduciary services. She was previously director of business analysis supporting Columbia Asset Management at Ameriprise Financial. Regional Plan Association: Nicolas Ronderos, 36, was promoted to New York director at the nonprofit. He was previously director of economic and community development. Juliette Michaelson, 34, was promoted to vice president for strategic initiatives. She was previously director of strategic initiatives. The Heller Organization: Joshua Singer, 28, joined the real estate firm as director of retail leasing. He was previously associate director of retail leasing at Winick Realty Group. Carter Ledyard & Milburn: Justin A. Greenblum, 33, joined the law firm as a partner in its litigation department. He was previously an associate at K&L Gates. Christian Moretti, 41, joined as a partner in its corporate department and co-chair of its European cross-border practice. He was previously a partner in the corporate and securities department at Venable. Susan P.Johnston, 58, joined as counsel. She was previously counsel at Covington & Burling. SNR Denton: Andy Roth, 40, joined the law firm as a partner. He was previously chief privacy officer at American Express. Chadbourne & Parke: Amy D’Agostino, 37, was promoted to partner at the law firm. She was previously an associate. Clara Krivoy, 43, was promoted to partner. She was previously an international partner. Paul Tanck, 33, was promoted to partner. He was previously an associate. Launchpad Advertising: Noah Ross, 34, was promoted to partner. He was previously executive creative director. Curtis Mallet-Prevost Colt & Mosle: Thomas Laurer, 42, was promoted to partner at the law firm. He was previously counsel. Grant Thornton: Michael Patanella, 37, was promoted to asset management sector leader at the financial management company. He was previously audit partner. Withers Bergman: Reaz H. Jafri, 47, joined the law firm as of counsel. He was previously a partner at Abrams Fensterman. —eva saviano EXECUTIVE PROMOTIONS The fastest way to get an announcement into Crain’s is to submit online. Fill out the form at www.crainsnewyork.com/section/ executive_moves. The Executive Moves column is also available online.

November 26, 2012 | Crain’s New York Business | 9 20121126-NEWS--0010-NAT-CCI-CN_-- 11/20/2012 6:50 PM Page 1

OPINION CRAIN’S NEW YORK BUSINESS

The price of Senate chaos Rance Crain editor in chief publisher, vp Jill R. Kaplan

tate Senate Democrats appear to be blowing ouster of their majority leader, their botched attempt to EDITORIAL their chance to control the upper chamber of award a Queens racino project to a favored developer and editor Glenn Coleman their rejection of nonpartisan redistricting.Three of their managing editor Jeremy Smerd the Legislature. While that may be viewed as deputy managing editors Valerie Block, good news by many in the business wayward members were convicted of unrelated crimes and Erik Ipsen expelled from the Legislature. assistant managing editor Erik Engquist community, chaos in the Senate threatens to senior producer, news Elisabeth Butler Cordova disrupt the government and erode the public’s Meanwhile, four other Senate Democrats, led by Jeff news producer Amanda Fung Klein of the Bronx, broke from their conference and formed contributing editor Elaine Pofeldt fragile confidence in Albany. columnists Greg David, Alair Townsend Votes are still being counted in the 63 Senate races, but their own.They said they could no longer tolerate the crain’s health pulse editor Barbara Benson it appeared on election night that Democrats had won at leadership of Brooklyn’s John Sampson, who had replaced senior reporters Theresa Agovino, S Aaron Elstein, Lisa Fickenscher, Matthew Flamm least 32 of them, enough to recapture the majority they lost the beleaguered Malcolm Smith of Queens.They have not reporters Chris Bragg, Daniel Geiger, Andrew J. Hawkins, Annie Karni, two years ago. Uniting Senate Democrats, however, is like committed to caucusing with their fellow Democrats next Adrianne Pasquarelli herding cats. Within days of his victory in Brooklyn, year. Anyone could be web reporter, producer Nazish Dholakia Democrat Simcha Felder announced he would caucus with forgiven for suspecting art director Steven Krupinski A degree of order deputy art director Carolyn McClain the Republicans when the new Legislature convenes in that Mr. Klein’s group staff photographer Buck Ennis January. Previously, he had indicated he would join is needed for is offering its four copy desk chief Steve Noveck copy editor Thaddeus Rutkowski whichever conference held the majority (reaping the votes to the highest data editor Suzanne Panara Albany to work bidder. assistant data editor Emily Laermer goodies that entails, including nicer offices and a four- researchers Eva Saviano, Amy Stern figure annual stipend). Mr. Felder’s spin was that he’s doing It’s unhealthy for intern Ali Elkin what is best for his district, but it looks more like he’s state government to be ONLINE AND INTERACTIVE SERVICES putting perks over principle. viewed so cynically by the public. Voters should expect the senior web developer, interactive New Yorkers have seen this movie before. When candidates they elect to represent the principles of their Chris O’Donnell Democrats emerged from decades in the legislative parties, not become free agents looking for a better deal. ADVERTISING, MARKETING AND PRODUCTION We’re not saying legislators should reflexively vote the advertising director Trish Henry wilderness to win the Senate majority in 2008, four members senior account managers Irene Bar-Am, held their own conference hostage and grabbed committee party line. But for state government to function, a certain Courtney McCombs, Suzanne Wilson degree of order must be kept in the Legislature. We can’t account executive Jill Bottomley Kunkes chairmanships and leadership posts they did not deserve. sales coordinator Danielle Wiener Two of them later defected to the Republicans, throwing the have 63 undisciplined senators dangling their allegiance on newsletter product manager Alexis Sinclair eBay whenever the mood strikes. With the chamber so credit Todd J. Masura (313-446-6097) chamber into disarray and bringing the legislative process to director, audience development a halt.The Democrats’ tenure was further stained by the closely divided, we can’t afford even one. Michael O’Connor senior marketing manager Catherine Schutten event producer Courtney Williams COMMENTS reprint sales manager Lauren Melesio CRAIN’S ONLINE POLL production and pre-press director Michael Corsi advertising production manager Suzanne Fleischman Wies ‘Bedpan Alley’ TO SUBSCRIBE: For print and digital subscriptions or customer TOO MANY EAST SIDE UNEMPLOYMENT AID: IT’S benefits—ignores that EUC service, e-mail [email protected] HOSPITALS A TEMPORARY THING gets long-term unemployed or call 877-824-9379 (in the U.S. and Canada) or workers back to work while 313-446-0450 (all other locations). $3.00 a copy for the print edition; or $99.95 one year, $179.95 two No patients, family members Renewing federal jobless allowing for a gradual years, for print subscriptions with digital access. or advocacy groups were benefits will strengthen our drawdown of the program as the www.crainsnewyork.com/subscribe consulted for the Nov. 5 economy and help New York’s economy improves. Congress SHOULD NEW YORKERS article “Storm shows hospital 200,000 long-term unemployed has enacted federal extended TO ADVERTISE: excess.” What Superstorm workers find a foothold in a unemployment insurance every Contact Advertising Director Trish Henry at FEAR THE FISCAL CLIFF? Sandy really shows so clearly difficult market. Contrary to [email protected] or call 212-210-0711. time we have faced high www.crainsnewyork.com/advertise Yes. High earners’ taxes would jump the most, is that there is an excess of Greg David’s claim in his Nov. unemployment, and has never and some would compensate by moving to hospital beds on the East 19 column (“Extension of shut down the program with FOR INFORMATION ON OUR EVENTS: Side—an area that we and jobless benefits is misguided”) unemployment this high. Our low-tax states. Gross domestic product would Contact Event Producer Courtney Williams at others have called “Bedpan that 26 weeks is “sufficient” to elected leaders should do what’s [email protected] or 212-210-0257. fall. Alley.” find work, the average best for New York’s families and www.crainsnewyork.com/events No. No one’s going to leave New York over this. If, for example, the storm unemployed American is jobless economy by renewing EUC. TO CONTACT THE NEWSROOM: Cutting spending and returning to Clinton-era had closed hospitals in for 40 weeks, with longer —christine owens 711 Third Ave., New York, NY 10017-4036 tax rates would lower the federal deficit. southeast Queens or central searches for older workers. Executive director, National editorial phone: 212.210.0277 fax 212.210.0799 Date of poll: Nov. 19 Brooklyn, the outcome This emergency Employment Law Project Entire contents ©copyright 2012 Crain Communications Inc. 105 votes would have been entirely unemployment compensation, All rights reserved. ®CityBusiness is a registered trademark different. or EUC, is the bridge that LIBERAL MEDIA of MCP Inc., used under license agreement. The focus should be on helps long-term unemployed CONSPIRACY EXPOSED PUBLISHED BY CRAIN COMMUNICATIONS INC. excess—in areas where there is workers cover their family’s excess.That would serve to basic expenses during their job In reading the Nov. 8 Crain’s chairman Keith E. Crain president Rance Crain highlight the unfair search. It’s the lifeline that Morning 10, I was impressed by 40% secretary Merrilee Crain (1942-2012) Yes distribution of health care keeps them tied to the labor something simple that made me treasurer Mary Kay Crain 60% resources, a problem that is force, as recipients must think Crain’s permits reports executive vp, operations William Morrow Gloria Scoby No only getting worse. actively seek work. with liberal bias.The story was senior vp, group publisher —judy wessler Mr. David’s most misleading about Obamacare and its being group vp, technology, circulation, manufacturing Robert C. Adams Director claim—that efforts to renew “safe” now from the GOP.Did I vp/production, manufacturing David Kamis Commission on the Public’s EUC are intended to create a read this right? chief information officer Paul Dalpiaz Health System “permanent expansion” of —mark holt founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) FOR THIS WEEK’S QUESTIONS: CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 Go to www.crainsnewyork.com/poll to have your say. words or fewer to [email protected]. Please include the writer’s name, company, address and telephone number.

10 | Crain’s New York Business | November 26, 2012 20121126-NEWS--0011-NAT-CCI-CN_-- 11/20/2012 4:45 PM Page 1

annual leave for the first seven years of their employment, and up to 27 Something sickening days for those with 15 or more years of service. Employees can accrue some annual leave from year to year, about this city perk with any remainder above the limit converted to sick leave. These employees also have 12 he battle over whether private employers should be days of sick leave a year, with unlim- required to provide paid sick days to their employ- ited accrual from year to year.The to- ees has been suspended for the moment.Hurricane tal potential leave is nearly eight weeks a year for long-term employ- Sandy’s devastating effect on many small business- ees—generous by any standard. es has made that fight moot as they struggle for sur- Some argue that this generosity vival.Perhaps the city’s elected officials should look at their own stems from the fact that city managers T aren’t well paid, and that buckets of house during this interim, specifically the provisions for paid time off help compensate. Yet this is leave that city government has for its own employees. In this as based on compensation levels of the past.City government pay levels have in other benefit areas, including risen to be competitive with private- pensions and retiree health insur- sector levels, but fringe benefits ance, city employees are more privi- haven’t been adjusted much and re- leged than most private-sector main comparatively lavish. workers. Indeed, here’s the kicker. Upon Employers in the private sector separation from city employment, have been converting to paid time off employees get paid for unused leave. from separate provisions for annual, Long-term employees can get paid personal and sick leaves. Under for up to one year’s worth of unused PTO, employees accrue time they annual and sick leave. Paying for any can use for any purpose,whether per- unused sick leave is remarkable; pay- sonal illness, care for an ailing family ing for so much total leave is absurd. member or vacation.Employers who In recent years, city negotiators have adopted PTO find that it’s eas- ALAIR TOWNSEND have won minor concessions in paid- ier to administer and reduces absen- leave provisions. But still, city em- teeism due to sick-leave abuse. ances cannot be accrued from year to ployees enjoy perks unknown to most Crain Communications switched year, but any current-year unused workers in the private sector. There to PTO years ago. Entitlements amounts are paid out in a lump sum are significant savings in dollars and range from 15 days in an employee’s when an employee leaves. productivity to be had by moving to first full year to 30 days for those with Now consider city employees. paid time off, not to mention fairness 15 or more years of service.Leave bal- Managers are entitled to 20 days of to those footing the bill.

will have to demonstrate that he is capable of winning, which means Mayor’s race rests raising lot of money by the next re- porting date in January. So far, Mr. Thompson has not been able to on 3 key questions build a campaign war chest. If Mr.Thompson falters and Mr. Liu is out, the Democratic primary ith the Democratic mayoral candidates will be a showdown between Mr. de about to gather for a group grilling at the Blasio and Ms. Quinn. It will be the liberal versus moderate elements of Crain’s Future of New York conference on the party (or what passes for moder- Nov. 28, it’s a good time to handicap the ate in New York City) and will pit an 2013 election.Everything now depends on anti-Bloomberg candidate against a answeringW three questions. pro-Bloomberg candidate. 3. Will any Republican be credible? 1. Is John Liu viable? Now there are four—as in four The city comptroller has insisted men running for the Republican he will be a candidate for mayor even nomination for mayor. Newspaper as top associates have been charged in publisher Tom Allon has been cam- a fundraising scandal.The associates paigning for some time without rais- have proclaimed they are innocent ing much money or finding traction and have remained loyal to the on issues.Doe Fund founder George comptroller, and their lawyers have McDonald plans to shake things up mounted an effort to discredit the by challenging the city limits on con- prosecutor’s actions in the case. tributions, but he must both back up If Mr.Liu is forced out,then sup- his talk with money and show com- port from unions and the Working petence on the issues. Aldolfo Car- Families Party will fall to Public Ad- GREG DAVID rión was a pro-development Bronx vocate Bill de Blasio.If Mr.Liu is vi- borough president but disappeared able, then he and Mr. de Blasio will ignored Mayor Michael Bloom- into the Obama administration and be fighting over the left wing of the berg’s suggestion earlier this year hasn’t yet outlined either a strategy party and could divide it.That would that he get on with his life since he or a platform. The emergence of be good news for City Council has no chance to win. His strategy these three shows that even the Re- Speaker Christine Quinn, who is al- for 2013 is based on being the only publican Party pros don’t take seri- ready the beneficiary of Manhattan minority candidate (if Mr.Liu drops ously the fourth candidate, grocer Borough President Scott Stringer’s out) or the only African-American John Catsimatidis. decision to run for comptroller. candidate. If demographics are des- To be taken seriously,these candi- tiny, then he will be a serious threat dates will have to raise money, cam- 2. Will Bill Thompson be a contender? to the other Democrats. paign full time by speaking to every The former comptroller and de- If ethnic voting is less important possible group, and prove they have a feated 2009 mayoral candidate has than it used to be, Mr. Thompson strategy for the city.We are waiting.

November 26, 2012 | Crain’s New York Business | 11 20121126-NEWS--0012-NAT-CCI-CN_-- 11/20/2012 1:59 PM Page 1

SMALL BUSINESS Revenge of the scorpion bots A robotics educator takes first place in grammed and don’t have time for doing and making things,” said Ms. Crain’s Perfect Pitch Competition at Columbia Allen. who previously directed the com- Audience-choice award BY ELAINE POFELDT puter department at the Buckley Armed with a “scorpion bot” that School in Manhattan, keeps them her students had built from Legos, buck ennis aura Allen has made it busy with preschool and after- Ms. Allen won first place for her IT’S ALIVE!: RoboFun’s Laura Allen (center) wows judges Jill Kaplan (left), Erik Ipsen and Elaine her mission to keep local school programs and day camps at company in the third annual Crain’s Pofeldt (right) with her students’ motion-detecting Lego creature. youngsters from being the Upper West Side location of her New York Business Perfect Pitch bored by teaching them Manhattan business, RoboFun, and Competition, held at Columbia 21st-century skills like in classes in nine local public schools. Business School on Nov. 16. tion in Crain’s New York Business and nesses competed in the live event, Lrobotics and Claymation.Ms.Allen, “I think our kids are overpro- The competition’s prize is a men- a bottle of wine. Seven small busi- designed to show participants how to catch the eye of the media. The judges were Jill Kaplan, publisher of Crain’s, Erik Ipsen, deputy manag- ing editor, and me, a contributing editor. RoboFun also won the audience-choice vote. Commercial Banking Group Ms. Allen impressed the judging team with her vision for the busi- Commercial Real Estate ness, which she is considering fran- chising. She has built the 15-person firm to about $1.5 million in annu- al revenue in five years. Props help The second-prize winner was V&M (Vintage and Modern), an online marketplace for vintage fur- niture,antiques,art and jewelry,with about $4 million in annual sales.Un- der the leadership of founder Loren Brill, Sweet Loren’s, the third-place winner, has secured distribution for its ready-to-bake desserts in stores such as Whole Foods Markets. In the first round of the contest, the competitors videotaped “eleva- tor pitches,” offering the judges a quick overview of their businesses. After the contest, the judges offered some advice to those seeking media coverage—such as a suggestion to bring props, as Ms. Allen did. Here are some other tips: Know who you’re pitching. Crain’s re- quires financial information on the businesses it covers, so competitors who came prepared to disclose this data cleared one key hurdle. “We are very vigilant about understanding what your revenue model looks like,” explained Ms. Kaplan. Tell a great story. Talis Lin, an ex- ecutive vice president at V&M, caught the judges’attention by men- tioning customers such as Nicole Miller and the site’s sale of rare pho- tos by film director Stanley Kubrick. This type of information, when wo- ven into the subject line of an email pitch, can grab an editor’s attention. Explain how you’re different. Leah Abraham, who represented Ris- torante Settepani, which has two lo- cations in Manhattan, intrigued the judges by mentioning her work with a food historian on the menu. Showcase a strong team. Because of Hurricane Sandy, R. Adam Smith, Capital One Bank® helps real estate companies take their businesses to the chief executive of V&M, could not next level. As a top-10 U.S. bank, our dedicated Commercial Real Estate attend the event. Mr. Lin, his well- prepared substitute, held up under specialists deliver custom solutions, from streamlined cash flow to project-based tough grilling on the business’s financing. For real results in real estate, count on the experts at Capital One Bank. financials. “That showed me the strength of the team,” said Ms. Ⅲ Visit capitalonebank.com/commercial to learn more. Kaplan. To sign up for Crain’s Products and services offered by Capital One, N.A., Member FDIC. © 2012 Capital One. SMALL BUSINESS newsletter, go to Capital One is a federally registered service mark. All rights reserved. www.crainsnewyork.com/smallbiz.

12 | Crain’s New York Business | November 26, 2012 No matter what stage of life you’re at, North Shore-LIJ Health System has the health services you need. With 16 hospitals, including a dedicated pediatric hospital, dozens of specialized outpatient centers, rehabilitation facilities, nursing homes, and home health services in the New York metropolitan area, you will fi nd world- class health and wellness services to meet your specifi c need. Our doctors, nurses and other healthcare professionals work together within our network to provide you with the coordinated healthcare needed for the best outcomes. And teamwork like that never gets old. To see what North Shore-LIJ can do for you, visit us at northshorelij.com. To fi nd a physician, call 888-321-DOCS.

CN015563.indd 1 11/16/12 4:17 PM 20121126-NEWS--0014-NAT-CCI-CN_-- 11/21/2012 12:44 PM Page 1

patient-centered medical home disappearance of smaller, unprof- agreement. itable institutions,particularly those Docs sell amid reform pressures Dr. Volpe, who has a primary- that serve mainly poor people. Un- care practice,was already using elec- der federal health reform, many of Continued from Page 4 been the norm. On Oct. 17, Well- That didn’t last long. “The hoops tronic medical records and had set those patients will be newly insured, has been on a doctor shopping spree. Point, the Indianapolis parent of they make you jump through just up his office to focus on preventive and the hope is that they will find The system now employs 2,500 Empire, opened the first of three aren’t worth it,” he said. He sold his care. For him, the enhanced fees care in the larger systems. physicians, up from 1,100 three planned health clinics for seniors in office in Malone, N.Y., closed up from Empire were a welcome But if health care costs are to years ago, said Chief Executive Brooklyn. (The clinic has since shop, and tried a second act in his bonus. drop overall, planners, health sys- Michael Dowling. closed temporarily because of dam- medical career, caring for patients at But he was sufficiently con- tems and insurers agree that the best “Hospitals love the employed age from Hurricane Sandy.The oth- a nearby Mohawk reservation. cerned about the trend in general place to save money is by keeping model because it gives them er two will open in December.) that he testified before the House patients out of hospitals and by pre- tremendous negotiating clout,” Dr. WellPoint’s CareMore subsidiary Mixed reviews Small Business Committee this venting avoidable emergency-room McIntyre said. employs the doctors, and Empire Some doctors have embraced past summer, saying private med- visits. Insurance companies have re- provides the insurance. Patients pay these changes, believing they make ical practices are a mainstay of Two money-saving models are sponded by moving beyond con- premiums through Medicare Ad- care better and more efficient. American life and are quickly dis- gaining currency: medical homes tracting with doctors to actually em- vantage managed care. “It’s truly awesome,” said Dr. appearing. that are being set up by doctors’ ploying them—something that has Dr. Latreille didn’t want to be- Salvatore Volpe, a solo practitioner State Department of Health practices and accountable-care occurred elsewhere but not in New come “employed by anybody,” so he on Staten Island. He signed on to planners foresee the emergence of organizations established by hospi- York, where private practice has signed a contract with an insurer. Empire Blue Cross Blue Shield’s profitable “mega-systems” and the tals. In these models, insurers—in- cluding Medicare and Medicaid— pay health-care providers more for meeting benchmarks for good med- ical practice. Medical homes have shown some success.The cost of caring for adults in patient-centered medical homes in an Empire Blue Cross Blue Shield pilot program in 2010 was $93 less per member per month—or 15% lower than the cost of other Empire patients. Dr.Volpe, the Staten Island primary-care practitioner, said following Em- pire’s care model resulted in a $200- ‘We want to get a piece of the shrinking health care dollar’

per-patient drop in the cost of care per month, a saving passed on to the insurer, according to a study by HealthCore. Empire is now in the process of expanding these programs, as is EmblemHealth. Patient-centered medical homes and accountable-care organizations are a throwback to the original You don’t have cookie cutter employees. HMOs of the 1970s, said Howard Berliner, visiting professor of public health at NYU. “They’re new You shouldn’t offer them cookie cutter benefits. acronyms but not new ideas,”he said. Money-saving models In fact, they may be old ideas with some of the old problems— mainly that doctors who get paid ex- tra to follow one insurer’s rules are unlikely to follow another set of rules to get extra payments from an- Each of your employees is unique. And so are their benefit needs. other insurance company. “That With the Bright Choices® Exchange, your employees simply go online would be crazy-making,” Mr. Berliner said. and answer questions to get health and other benefits recommendations based on their individual needs. North Shore’s solution is not only They’ll have a choice of 8 different medical plans, life, disability, HSAs, FSAs, dental, vision, wellness, legal to buy out small doctors’ practices; plans and much more from top national and regional providers. We even help your employees make the right it’s also increasingly acting like an in- surance company.In October,North choices with our award-winning decision support and educational tools, all while managing the cost of those Shore announced a deal with choices to meet your budget and theirs. Your business can start saving money today. Talk to your broker UnitedHealthcare to introduce in- about Bright Choices or register for a free webinar at www.brightchoicesny.com to learn more. surance products featuring its facili- ties and providers. North Shore be- lieves it can command a piece of premiums if it can meet financial and A private exchange is now available in NYC health-care performance targets. for small businesses. “There is a shrinking [health care] dollar,” said Howard Gold, senior vice president of managed Bright Choices® is a registered trademark of Liazon Corporation. © 2012 Liazon Corporation care and business development, “and we want to get a piece of the shrinking dollar.” Ⅲ

14 | Crain’s New York Business | November 26, 2012 20121126-NEWS--0015-NAT-CCI-CN_-- 11/20/2012 2:01 PM Page 1

REAL ESTATE INSIDE NY’s top property managers find themselves in the eye of the superstorm PAGE 16 Deals Brooklyn baker branches out; REPORT watchmaker resets lease clock PAGE 20 Insurance hikes hit builders Claims by injured workers, big settlements push premiums up

dollar settlements for crane acci- BY STEPHEN KLEEGE dents and other lawsuits. “In our New York portfolio, New York’s builders are reeling from we’ve seen the average claim involv- a huge upward spike in the cost of ing New York Labor Law approach insuring against claims by injured $4 million,” said Tom Grandmai- workers,one that is likely to push up son, executive vice president and the cost of development and at the construction casualty leader for the same time eat into profits for an in- U.S. and Canada at AIG Property dustry still strug- Casualty. Tradi- gling to bounce THROUGH tionally, the indus- back from the re- trywide cost of in- cession. THE ROOF suring New York Construction Cost of insuring NYC projects projects for work- companies and for workers’ compensation and ers’ compensation, their subcontrac- liability: general liability and tors, which work HISTORICALLY excess liability is under a state labor “3% to 4% of the law that puts ab- value of the con- solute liability on 3% to 4% struction,” he said. the employer for “Today, that num- injuries sustained ber is 8%-plus.” TODAY on high-rise proj- Much of the in- ects, say that their crease is in the bal- premiums have as 8%-plus looning cost of rein- much as tripled in surance, or this year’s billing Source: AIG Property Casualty secondary layers of cycle. Insurance coverage, according companies, squeezed by low invest- to Ken Colao, president of CNY HARD HIT: Arthur ment yields on their assets on one Builders, a Manhattan-based con- Rubinstein, owner of side,and big payouts for catastroph- struction management company Skyline Steel Corp., has seen his insurance ic events such as the 2011 tsunami that specializes in hotels and residen- costs nearly triple. in Japan and soaring medical costs tial development.Typically,he said,a on the other, were hiking premiums reinsurer has to pay only after the first in New York even before Super- $1 million of coverage is used up, storm Sandy blew into the area.The but that level is being pierced more moves are also being driven by a frequently.

buck ennis growing number of multimillion- See INSURANCE on Page 20

three years.Already several hundred million dollars are beginning to Downtown gears up for huge retailing growth pour into the creation of four giant retailing hubs with a total of nearly Four shopping hubs called Trinity Place—boasting “Why would I want to go where 9/11 of the vast, highly successful 1 million square feet of space, trendy European-label apparel and there are no good retailers or shop- mall in the World Trade Center. roughly equivalent to Macy’s nine- are on track as area accessories sprawled over 26,000 ping?” he asked. “I look at this as an “There’s no real apparel retail or floor flagship at Herald Square (see square feet of highly polished hard- opportunity and a challenge.” fashion retail; it’s all food and serv- box, page 21). eyes revitalization wood floors—opened at 61 Broad- ice, so any of the majors have been Two of them, Brookfield Place, way in the heart of a neighborhood Mall mecca hesitant to locate there because they formerly known as the World Fi- still far better known for high fi- The latter point is certainly true, don’t have that synergy [with similar nancial Center, and Pier 17 on the BY ADRIANNE PASQUARELLI nance than high fashion. now more so than ever in the havoc stores],” said Robin Abrams, execu- East River will be radical revamps. Even Marian Rebro, the store’s wrought by Superstorm Sandy. But tive vice president at Lansco Corp. The other two, at the World Trade In early October, the financial dis- chief executive, acknowledges that the fact is that the storm is just one Despite the near-term disloca- Center and the Fulton Street Tran- trict welcomed an unusual newcom- his choice of locales might strike more hardship in a retail market that tions caused by Sandy, that may sit Center, will be brand new. What er. A three-story department store some as odd. never recovered from the loss on change in a huge way in the next See DOWNTOWN on Page 21

November 26, 2012 | Crain’s New York Business | 15 20121126-NEWS--0016-NAT-CCI-CN_-- 11/20/2012 6:51 PM Page 1

NEXT WEEK: THE Commercial Property Managers Best places to work in New York City LIST Ranked by square feet managed in New York City

THE SCOOP REIT exposure to NYC metro area, by property type Number of exposed properties n the days following Superstorm Sandy,commercial prop- 1,501 erty managers were thrust into an unaccustomed spotlight 426 as they raced to pump out basements,restore power and re- Number of pair damage so tenants could return to work. But now, al- REIT-owned commercial most a month later,these property managers are starting to Ifocus on something else: preventing damage from another storm. properties in the “We have now become part of Hurricane Alley,” said David 309 Sturner, chief operating officer and principal at Murray Hill NY area affected by Sandy Properties. “Unless you want to see a ghost town downtown, Source: SNL Financial things will have to be developed.” The company—the only newcomer to Crain’s list of top com- 217 mercial property managers, ranking No. 20 with 7.4 million Top five commercial property commercial square feet managed in the five boroughs, up 13.5% sales of 2011 169 from a year ago—had two buildings that were damaged, both of Ranked by price, in millions which were back operating within a week. The first, a half- 113 102 million-square-foot building on lower Fifth Avenue, lost pow- 601 W. 26th St. er for five days.At the second,located in west Chelsea,the build- 83 ing had more extensive damage and required water removal, $920 mold remediation and other restoration. 30 28 24 230 Park Ave. Many of the top 25 commercial real estate firms,which man- Retail: Office Self- Shopping Industrial Health Hotel Specialty Regional Multiuse age between 5.3 million and 71.5 million square feet apiece, ac- $760 Other storage center care mall cording to Crain’s research, have spared no expense for restora- Includes current properties only, located in the New York-northern New Jersey-Long Island, NY-NJ-PA MSA. Includes only properties owned by tion and are already looking into preventive measures, such as 299 Park Ave. U.S.-based publicly traded equity REITs. As of Oct. 29, 2012. Source: SNL Financial generators and pump systems. Others are trying to find creative locations to store electrical and mechanical equipment so as to $623.7 avoid severe damage from basement floods. Manhattan commercial property sales volume This has become especially important as these firms contin- 49 E. 52nd St. Number of transactions Volume ($billions) ue to expand their portfolios.Nine of the top 25 reported growth $569.1 from a year ago, while just seven saw a decrease. 4Q2011 274 $6,566.1 However,some don’t anticipate long-term harm from Sandy. 450 W. 33rd St. 1Q2012 244 $5,670.7 “We went on after 9/11, after the transit strike, after the black- out,” said No. 4 Newmark Grubb Knight Frank President $533.0 2Q2012 262 $6,112.9 Jimmy Kuhn. “Nothing shuts New York down for long.” 3Q2012 307 $5,635.8 —emily laermer Source: PropertyShark.com Sources: Eastern Consolidated, CoStar, PropertyShark.com and NYC Department of Finance

  )'' 2$&831!8!4! 4#$2%0247831!8!4! '(" 8$(8 '(" 8$(8 8 4$)(& (% )'0(7 #)( 6 3$4  8)!88)!!$ #$(8'$&&$)(3$  #$(8'$&&$)(3$  '0&)7 3  # 1524 23  & 4 84 ((43 TRCG6H46E@AD@F9"H8  8A)92  %1%78    4G`TGffG` $dQPUf@gUeeQ174adSG`$TGeQB#@#QGIa` @UpfT"hQ iiiIgeTiGWQIaY @Q`UadYG`GSU`SPUdQIfad   $GbUfGX 5QiEadW5E IadbadGfQaIIgbUQdG`PU`hQefad eQdhUIQe  CGF )37185( &pQIgfUhQYG`GSU`SPUdQIfadaR 5QiEadW$UfqaRRUIQe 0"H8  %BB "%7C@)7    3ae"`SQXQe $a`Ps5Gef)@#$4GdeT@4I3Q``G`@UPXQq 7GdW"hQ iiiIHdQIaY 7dQeUPQ`f5QiEadW   "gefU`#dai`@DaaP  5QiEadW5E fdUefGfQdQSUa` #IH@R%6HB%616FF@G@QD86R"H8  )B)@31C%@(3     $TUIGSa #G`WaR"YQdUIG)@#$7RUrQd%QgfeITQ#G`W 4GPUea`"hQ iiiVa`QeXG`SXGeGXXQIaY 7dQeUPQ`f5QiEadWdQSUa`    5QiEadW5E '@VG6QE QT77$HDBCSQ6HE   %@@F 8A37     4G`TGffG` `DP 7GdW"hQ iii`QiYGdWWRIaY $TUQRQpQIgfUhQ    5QiEadW5E 3IQH69I0@6FSW2QTRS  %D3(  @))7&%C6    4G`TGffG` 4GIqFeFURR#dafTQde0`hQefYQ`fe0`I4I(dGi @QhQ`fT"hQ iiih`aIaY 7dQeUPQ`f5QiEadWaRRUIQPUhUea`   )UXX$ae3UYUfQP#dG`Pe0`I  5QiEadW5E 1% Q@@H0@6FSWIQP  %@' 8553(%F     4G`TGffG` $UfUSdagbCUGIaY0`fQd`GfUa`GXfTQ$UfqaR5Qi 3QpU`Sfa`"hQ iiieXSdQQ`IaY $TUQRQpQIgfUhQ   EadW$dQPUf@gUeeQ  5QiEadW5E QIIEAD@F9(AAD8@)QIP@QSD@R"H8  )773A @3)(@3'2     4G`TGffG` #G`WaR"YQdUIG4QddUXX3q`IT9#$'U`G`IUGX CQeQq@f iiiHdaaWRUQXPaRRUIQbdabQdfUQeIaY $TUQRQpQIgfUhQ   @QdhUIQe4adSG`@fG`XQq7i$  5QiEadW5E 2DRCG6H1P@W@Q   )@@F 9)F)@   `DP `DP 4G`TGffG` $aXSGfQ7GXYaXUhQ@GGfITU@@GGfITU 9aIWQRQXXQd7XGrG iiifUeTYG`ebQqQdIaY $TGUdYG`IaITUQRQpQIgfUhQ  `DP 5QiEadW5E 8&)@B  9)F)@ 7dQeUPQ`fIaITUQRQpQIgfUhQ 6RRD9W2TQF@W'@V5IQE  )B)@)77)AAF   4G`TGffG` 3C4)7Qd`aP9UIGdPB@"9G`PaY)ageQ 7GdW"hQ iiiIGeeUPqfgdXQqIaY 7dQeUPQ`f5QiEadW   0`I 5QiEadW5E fdUefGfQdQSUa` 2C@TQRS(QB6HDX6SDIH"H8  87%B2%7 8(F C@AB   4G`TGffG` #G`WaR"YQdUIG$a`Ps5Gef@WGPPQ`"dbe #dqG`f7GdW iiiPgdefadS 7dQeUPQ`f   @XGfQ4QGSTQd@'XaYDTUfQ@$GeQ  5QiEadW5E 1DFU@QRS@DH)QIP@QSD@R"H8  %@@F  35D)@AB)37    4G`TGffG` DUXYQd)GXQ4aaPqFe2dGYQd3QhU`5GRfGXUeG`P DadXPAdGPQ$Q`fQd iiieUXhQdefQU`bdabQdfUQeIaY 7dQeUPQ`fITUQRQpQIgfUhQ   'dG`WQX#G`W)GbaGXUY  5QiEadW5E 0T9DH&6H6B@G@HSI  #3553%6 $ C(37     4G`TGffG` 274(fTQ#XGIWefa`Q(dagbATaYea`9QgfQde 7GdW"hQ iiidgPU`IaY CUIQITGUdYG`ITUQRQpQIgfUhQ   "YQdUIG`0`fQd`GfUa`GX(dagb0`I  5QiEadW5E )6Q6GITHS QITP"H8  5&)@B  )25)@     4G`TGffG` `DP #daGPiGq iiibGdGYag`fSdagbIaY 7dQeUPQ`fITUQRQpQIgfUhQ `DP   5QiEadW5E @IQB@IGAIQS1IHR"H8  )B)@ C7'%7     4G`TGffG` 5aYgdG)aXPU`Se"YQdUIG0`I7TUXXUbeCG` 4GPUea`"hQ iiiSQadSQIaYRadfIaY 7dQeUPQ`fITUQRQpQIgfUhQ   )QgeQ`5QiEadW3URQ0`egdG`IQD77(dagb  5QiEadW5E Continued on Page 18

16 | Crain’s New York Business | November 26, 2012 Founding Member of Greenprint Foundation Earned 7 LEED Designations, including 3 Gold & 3 Silver Earned 9 Energy Star Designations Energy Star Rating: 80 Recycling Rate: 77% Reduced Energy Usage: 11.5% Award-Winning Property Management: Executive of the Year • Manager of the Year • Porter of the Year 1,000,000+ SF Leased through 3Q Committed to Our Communities: Covenant House, Citymeals-On-Wheels, City Harvest, American Red Cross and More

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CN015544.indd 1 11/9/12 4:20 PM 20121126-NEWS--0018-NAT-CCI-CN_-- 11/20/2012 6:52 PM Page 1

THE LIST Commercial Property Managers

  )'' 2$&831!8!4! 4#$2%0247831!8!4! '(" 8$(8 '(" 8$(8 8 4$)(& (% )'0(7 #)( 6 3$4  8)!88)!!$ #$(8'$&&$)(3$  #$(8'$&&$)(3$  '0&)7 3  # 1524 23  & 4 84 ((43 000@6FSW  @)11 89437     4G`TGffG` %USUfGeDQXXe'GdSa#G`W"XIaG'UPQeeG 7GdW"hQ iiidRddQGXfqIaY $TUQRabQdGfU`SaRRUIQd    5QiEadW5E IRSIH)QIP@QSD@R"H8  8&)@B )5A%6     #aefa` $UfUHG`W@TQGdYG`@@fQdXU`SDQUX(afeTGX@ 3QpU`Sfa`"hQ iiiHaefa`bdabQdfUQeIaY @Q`UadhUIQbdQeUPQ`f   4G`SQe2UdWXG`P@&XXUe  5QiEadW5E dQSUa`GXYG`GSQd IFFD@QR"HS@QH6SDIH6F  3'2%)5 !$82)7     @QGffXQ AUYQDGd`Qd$GHXQ4QfdabaXUfG`AdG`ebadfGfUa` 4GPUea`"hQ iiiIaXXUQdeIaY 7dQeUPQ`ffdUefGfQdQSUa`   "gfTadUfqB`UfQP5GfUa`e5QiEadW$Ufq7GdWe  5QiEadW5E %QbGdfYQ`f IC@HQISC@QR0@6FSWIQP  $2%@5)A $82)7     4G`TGffG` 0`fQdbgHXUI(dagbaR$ae4QdQPUfT$adb 3QpU`Sfa`"hQ iiiIaTQ`HdafTQdedQGXfqIaY 7dQeUPQ`fITUQRQpQIgfUhQ   $G`GPUG`0YbQdUGX#G`WaR$aYYQdIQ 5QiEadW5E B)D)7  $2)@73%4 AdG`e7QdRQIfAdG`eXGfUa`e  $TUQRabQdGfU`SaRRUIQd !DH@R  !866F  $@%31     )agefa` @UYbea`ATGITQd@#GdfXQff$0#$$G`fad 7GdW"hQ iiiTU`QeIaY @Q`UadYG`GSU`SPUdQIfad   'UfrSQdGXP#dai`#dafTQde)GddUYG`  5QiEadW5E 5QiEadWfdUefGfQdQSUa` &TQQ6W!DFF)QIP@QSD@R  %D3( BC@7)@     4G`TGffG` "XXUG`IQ#Qd`efQU`5EB3G`Sa`Q4QPUIGX 7GdW"hQ iiiYgddGqTUXXIaY $TUQRabQdGfU`SaRRUIQd   $Q`fQdCUeUfU`S5gdeQ@QdhUIQe@IdUbbeD)(ACD  5QiEadW5E 'aaP5QfiadW 96GRI 0@6FRS6S@  %D3( )DF %6)A CA534    4G`TGffG` 5QiEadW7dQeHqfQdUG`)aebUfGX5QiEadW 'URfT"hQ iiiGPGYedQIaY 7dU`IUbGXe   B`UhQdeUfq)aebUfGXe$Q`fQdAdQYad4QPUG  5QiEadW5E AaYYq#GTGYG 2QDHDSW0@6FRS6S@  %A87 3G)@    4G`TGffG` CUGIaY$#@9GPUaD5E$9GPUa)GhGe CGdUIW@f iiifdU`Ufq`qIIaY 7dQeUPQ`f    5QiEadW5E 2C@0I8E@A@FF@Q QITP  )D37  %'4)BB    4G`TGffG` 4adSG`@fG`XQqAUYQ0`I@aIUsfs(s`sdGXQ @UpfT"hQ iiidaIWQRQXXQdSdagbIaY 7dQeUPQ`fITUQRQpQIgfUhQ   4I(dGi)UXX$ae  5QiEadW5E $6TAG6H(QB6HDX6SDIH  )8@1) %C06%7    4G`TGffG` "bbXQ0`I9aHQdf"4@fQd`2XQU`RQXPEag`S @QhQ`fT"hQ iiiWGgRYG`adSG`UrGfUa`IaY $TGUdYG`   "PgXf0`efUfgfQ  5QiEadW5E #68E0@RHD8E1IHR"H8  C@B87  )A73'4    4G`TGffG` "65&efsQ3GgPQdB`UhQdeGX4geUI(dagb &fT@f iiidQe`UIW`qIIaY $TGUdYG`ITUQRQpQIgfUhQ   "YQdUIG`&pbdQee  5QiEadW5E '@V 5IQE DSW U`IXgPQe fTQ RUhQ HadagSTe #da`p #daaWXq` 4G`TGffG` 8gQQ`e G`P @fGfQ` 0eXG`P $@%37+A )E$8@4 CA37)AA geQe efGRR dQeQGdIT QpfQ`eUhQ egdhQqe G`P fTQ Yaef IgddQ`f dQRQdQ`IQe GhGUXGHXQ fa bdaPgIQ Ufe XUefe Hgf fTQdQ Ue `a SgGdG`fQQ fTGf fTQeQ XUefU`Se GdQ IaYbXQfQ Aa cgGXURq Rad fTUe XUef IaYbG`UQe Ygef YG`GSQ IaYYQdIUGX bdabQdfq U` fTQ RUhQ HadagSTe "XX U`RadYGfUa` iGe bdahUPQP Hq fTQ IaYbG`UQe $aYYQdIUGX ecgGdQ RQQf G`P fTUdPbGdfq ecgGdQ RQQf TGhQ HQQ` dag`PQP 9G`WU`Se G`P bQdIQ`fGSQe GdQ HGeQP a` dag`PQP `gYHQde `DP5af PUeIXaeQP 6RRUIQ bdabQdfUQe a`Xq! Ge aR 1g`Q  ATUdPbGdfq ecgGdQ RaafGSQ dQRQde fa bdabQdfq YG`GSQP Hq G IaYbG`q afTQd fTG` fTQ ai`Qd Ge aR 1g`Q  'gXXfUYQ G`P RgXXfUYQQcgUhGXQ`f a`Xq U`IXgPU`S g`Ua` YQYHQde G`P GPYU`UefdGfUhQ QYbXaqQQe Ge aR 1g`Q  #($ 7Gdf`Qde 0`I iTUIT ai`e 5QiYGdW 2`USTf 'dG`W GIcgUdQP (dgHH @ &XXUe U` "bdUX  (dgHH @ &XXUe dG`WQP 5a  a` XGef qQGdFe XUef $aYbG`q PQIXU`QP fa bGdfUIUbGfQ U` fTUe qQGdFe egdhQq "XX PGfG GdQ $@%37+A QefUYGfQe 9QeQGdIT @grG``Q 7G`GdG G`P &YUXq 3GQdYQd

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18 | Crain’s New York Business | November 26, 2012 Property & Facilities Management

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CN015562.indd 1 11/16/12 4:17 PM 20121126-NEWS--0020-NAT-CCI-CN_-- 11/20/2012 6:52 PM Page 1

REPORT REAL ESTATE

death of a worker who fell down an DEALS elevator shaft during the construc- tion of a Bronx court building. In Insurance hikes that case, the judge ruled that the excess coverage held by the worker’s Continued from Page 15 Colletti, president of the Building employer shouldn’t kick in until af- Classic Watch “Because of the number and size Trades Employers’ Association. He ter the primary insurance policy of claims,now the excess carriers are said the higher cost resulting from held by the building owner and that suffering huge losses,” Mr. Colao the law—the only one of its kind in of the construction manager, Bovis resets its lease clock said. As a result, most require what the nation—could put some smaller Lend Lease, had been exhausted. he terms “a buffer policy” that goes subcontractors out of business or up to $5 million, at a cost of “up to possibly even prevent contractors Higher premiums Classic Watch Company Inc. is staying put at its garment dis- 10 times’’ the previous rate for that from moving ahead with projects. As a result of that ruling, some trict headquarters office. intermediate level of coverage. Attempts to change the law, to primary insurers say they have no The manufacturer of watches has renewed its lease for Arthur Rubinstein, the owner hold an employee partly liable for choice but to raise premiums to re- 14,300 square feet at 10 W. 33rd St., between Fifth and Sixth av- of Brooklyn-based Skyline Steel injuries caused by his or her own flect their increased risk from claims enues, for 10 years. The asking rent was $39 per square foot. Corp., got the bad news over the malfeasance, have died in Albany against other companies working A“They were comfortable there,” said David Levy, a broker at Adams & summer. amid lobbying by trial lawyers and on the same project as their own Co. who represented the tenant and landlord Ten West Thirty Third Asso- “We were required by our cus- unions, who argue against watering clients. ciates. “Why fix what’s not broken?” tomers, who are some of the larger down worker protections. Julian Erlich, senior vice presi- The firm has been located in the building, known as the Fashion Acces- contractors,to increase liability [cov- “The law puts the burden where dent in the claims department sories Center, for 10 years. The office building is home to a number of ac- erage] from $1 million to $2 million it should be,on those who have con- at AON Construction Services cessory companies, most notably Steve Madden and Hobo. per occurrence,” he said. Skyline is trol of the workplace,” said Joel Group,said trade contractors could Buyers tend to come to the property and “spend the entire day there” vis- paying the equivalent of 11% of sales Shufro, executive director of the mitigate horizontal exhaustion iting different manufacturers, said Mr. Levy. after adding the layer of coverage, up New York Committee for Occupa- risks by getting endorsements from —amanda fung from 3.7%. Skyline’s bill jumped tional Safety and Health,a nonprof- their insurers stating that their ex- despite an “above average” safety it coalition of unions, doctors, cess coverage would kick in before record, Mr. Rubinstein said. lawyers and health safety activists. the owners’ and general contrac- D’Avola of Arena Properties repre- “No one has canceled any proj- “New York has always been a state tors’ primary policies could be B’klyn baker has sented both the tenant and landlord ects; it just makes it more expensive where we place a value on the lives tapped. The costs of such insur- a lot in the oven Glen Maranga in negotiations for to develop,” said Ken Levien, of the people who work here.” ance, which some general contrac- the Sunset Park space. founder of Levien & Co., which re- Assemblyman Joseph Morelle, a tors are requiring, vary depending A new kitchen is rising up in the —adrianne pasquarelli tains contractors on behalf of prop- Rochester-area Democrat who has on the trade contractor’s history,he sprawling Bush Terminal in Brook- erty owners. “Rental or sales costs championed reform of the Scaffold said. In some cases, the endorse- lyn’s Sunset Park. Bien Cuit, a bak- will be higher. It has an inflationary Law for more than a decade, is in- ments are “there for the asking,” ery that launched in Boerum Hill Spirits soar effect.” troducing a bill again this year that but in others they may be costly or last year,has inked a 10-year deal for in Flushing would allow owners, contractors, unavailable. 5,000 square feet at 4502 Second Ave. The law behind the costs subcontractors and insurers to cite “To some extent,everyone is in it The asking rent was $14 each. Just in time to lift spirits for the hol- The state’s so-called Scaffold an employee’s negligence as a together,” Mr. Erlich said. The new kitchen will be used to idays, a new liquor store will open in Law,which holds the builder or sub- defense. The bad news, however, is that in increase production, which is Flushing, Queens. contractor liable even when an in- Posing additional uncertainty the wake of the estimated $33 billion wholesaled to restaurants and retail- N&S Wines signed a 10-year jured employee failed to comply with for insurers is something called the in destruction wrought by Super- ers. Bien Cuit, which recently re- lease for 4,000 square feet at 58-50 the company’s safety training, looms “horizontal exhaustion” issue. It storm Sandy in New York state alone, ceived a loan for its wholesale busi- Francis Lewis Boulevard, replacing a large as the main culprit for the sky- stems from a 2008 New York appel- any hope of insurers cutting rates for ness from the Partnership for New Capital One Bank branch. The rocketing insurance costs, said Lou late court ruling on liability for the contractors is remoter than ever. Ⅲ York City Fund,should open its new shopping plaza also houses a diner, digs early next year. It selected the a Waldbaum’s grocery store, and site in part because of its proximity several smaller stores. The asking to the Boerum Hill location on rent was $45 per square foot. Smith Street, according to Michael Grant Dolgin of Kalmon Dolgin Dulle, operations manager. Affiliates represented both N&S The bakery will also open its first Wines and building owner Cross- Manhattan location at 35 Christo- path Realty. pher St. in December. Greg —ali elkin BARE BONES

1361 AMSTERDAM 205 HUDSON ST. 1370 SIXTH AVE. AVE. ASKING RENT; TERM: ASKING RENT; TERM: ASKING RENT; TERM: $32 per square foot; Mid-$70s per square Undisclosed; 15 years three years foot; 10 years SQUARE FEET: 23,000 SQUARE FEET: 28,800 SQUARE FEET: 27,000 TENANT; REP.: Avantus TENANT; REP.: One Kings TENANT; REPS.: VCS; Renal Therapy; Carol Lane; Peter Gross of Rika Lissio and Jeffrey Sacks of ABS Partners Williamson Picket Gross Rosenblatt of Newmark Inc. Grubb Knight Frank LANDLORD; REP.: Janus Properties; Arthur Draznin SUBLANDLORD; REP.: LANDLORD; REPS.: of Newmark Grubb Knight TheLadders.com; Marc Principal Investors; Paul Frank Shapses of Studley Inc. Amrich and Kerry Powers of CBRE BACK STORY: Kidney BACK STORY: The tenant, dialysis company will which hosts online sales BACK STORY: The take the entire second of home decor products, footwear company leased floor and part of the is expanding its footprint the entire eighth and ground floor in the five- in the building to nearly 15th floors and part of story office building, 50,000 square feet, the ninth floor, according according to The according to The to The Real Deal. Commercial Observer. Commercial Observer.

20 | Crain’s New York Business | November 26, 2012 20121126-NEWS--0021-NAT-CCI-CN_-- 11/20/2012 4:34 PM Page 1

REPORT REAL ESTATE Downtown gears up

Continued from Page 15 their owners share is an ironclad MALLS IN LOWER conviction that there is a place MANHATTAN downtown for the sort of large-scale retailing that once flourished in the World Trade Center vast lower reaches of the original DEVELOPER: Westfield Group World Trade Center. LOCATION: Vesey Street They are pinning their hopes on SIZE: 365,000 square feet a growing army of tourists, several OPENING DATE: 2015 looming residential conversions— Brookfield Place including the 66-story former AIG DEVELOPER: Brookfield Properties headquarters—and four hotels ex- LOCATION: 200 and 250 Vesey pected to arrive by 2014. What’s St., 200 and 225 Liberty St. more, that is the same year that SIZE: 200,000 square feet World Trade Center towers 1 and 4 will open. OPENING DATE: 2014 Pier 17 at South Street Temporary impact Seaport Already there is much for retailers DEVELOPER: Howard Hughes to work with. The Downtown Al- Corp. liance estimates that lower Manhat- LOCATION: 89 South St. You and your business may be battered, but you are not broken. Mother Nature dealt a harsh blow tan has about 57,000 residents, with SIZE: 195,000 square feet to our region. But in the true American spirit, we are all standing up, brushing off the dirt and an average annual household income OPENING DATE: 2015 dust, and moving forward once again. We are assessing damage, and formulating a plan to be of a hefty $188,000. In addition, the area’s office towers house 310,000 Fulton Center even stronger, even better, than before. employees, and last year’s opening of DEVELOPER: Metropolitan the National September 11 Memor- Transportation Authority The professionals at WithumSmith+Brown have the capabilities and experience to guide you on ial is drawing record numbers. Last LOCATION: Broadway at Fulton the road to recovery, so that you will once again Be in a Position of StrengthSM. Please contact us year, visitors to the area skyrocketed Street if you are in need of assistance in rebuilding your business. to 9.8 million, up 8% over 2010. SIZE: 70,000 square feet “All of the various consumer OPENING DATE: 2014 groups are growing,” said Elizabeth Berger, president of the alliance. “I don’t think the momentum that low- J&R,which has been in lower Man- er Manhattan has experienced is go- hattan for more than four decades, ing to change because of the storm— recently opened a children’s store, the impact will be temporary.” J&R Jr., to cater to the rising popu- In recent years, however, down- lation of families in the neighbor- town’s retail sector has failed to keep hood. The new 15,000-square-foot pace.“It’s a neighborhood in transi- shop, also located on Park Row,sells tion,” said Faith Hope Consolo, everything from strollers and baby chairman of leasing at Prudential gear to electronic toys. Douglas Elliman. “It’s a magnet for the mommies The area’s rents reflect stagnation. out there,” said Rachelle Friedman, Brokers report some retail sites along chief executive. “To see strollers on lower Broadway have dropped asking the street is something I haven’t seen rents from $150 to $125 per square for years and years.” foot.The Daffy’s site at 50 Broadway, which the discounter vacated follow- Food options ing its liquidation, has an even lower Downtown’s restaurant business asking rent, about $100. Meanwhile, is also heating up a bit. Mixed in half of the former Borders bookstore with myriad fast-food chains and at 100 Broadway has been on the Starbucks along Fulton Street are market for more than a year. new and hip names, including Five years ago, the arrival of lux- Baked by Melissa, the queen of ury retailers Tiffany & Co.and Her- mini-cupcakes. Earlier in 2012, mès seemed to herald the dawning famed restaurateur Danny Meyer of a new age for lower Manhattan. opened North End Grill on North The recession put such hopes on End Avenue, a place hailed by Za- hold. Fashionable retailers, includ- gat as one of the year’s best new ing women’s clothier Loft, men’s eateries. Its launch followed that of shirtmaker Thomas Pink and dis- Mr. Meyer’s Shake Shack on Mur- counter T.J. Maxx, are few. ray Street, which opened in 2011. “Tiffany and Hermès were a long “The lines at Shake Shack con- time ago,” said Ms. Consolo. “Two tinue to go around the block,” said or three stores can’t make a neigh- Ms. Berger. borhood.” Yet most important,the arrival of Meanwhile, the area’s two most a supermarket on the east side of the famous retailing stalwarts—J&R area, introducing an option beyond Music and Computer World and the Whole Foods in TriBeCa, has Century 21—have not only endured cemented the area as livable. This but expanded. Century 21 began fall, Key Food opened a 30,000- renovating its flagship earlier this square-foot, three-story gourmet year, with various upgrades includ- market at 55 Fulton St., offering ing more changing rooms and bath- 24/7 service and free local delivery. rooms. It also added 70,000 square “The retail horizon of lower feet to its existing 120,000-square- Manhattan is getting better and foot store. growing in demand as a shopping “As the neighborhood expands destination,” said Ms. Berger. She with new businesses, residents and noted that once Brookfield, West- retailers, we’re excited to be a part of field (World Trade Center) and the growth,” said Heather Feinmel, Howard Hughes Corp. (Pier 17) the store’s marketing manager. complete and fill their spaces,“more Similarly, electronics institution retail and food will then follow.” Ⅲ

November 26, 2012 | Crain’s New York Business | 21 nb48p22-24cl.qxp 11/21/2012 2:22 PM Page 22

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM POSITION AVAILABLE PUBLIC & LEGAL NOTICES AO/Sr Developer Notice of Qualification of BOF LLC. Notice of Formation of MDLB Partners Notice of Qual. of Tempus Quo Notice of Qualification of Bowen, (AllianceBernstein L.P. – New York, NY) Authority filed with Secy. of State of LLC. Articles of Organization filed Alternative Fund, LP, Auth. filed Miclette & Britt of Florida, LLC. App. Analyze sys & user reqs & dsgn, dvlp & NY (SSNY) on 9/26/12. Office location: with the Secretary of State of NY Sec’y of State (SSNY) 2/15/12. Office for Auth. filed Secy. of State of NY deploy sftwre apps for global invstmnt NY County. LLC formed in Delaware (SSNY) on 10/02/12. Office location: loc.: NY County. LP org. in DE (SSNY) on 10/19/12. Off. loc.: NY (DE) on 3/14/11. SSNY designated NEW YORK COUNTY. SSNY has 12/14/10. SSNY desig. as agent of County. LLC formed in TX on 2/25/11. mgmt firm. F/T. Reqs a Bach’s degr (or as agent of LLC upon whom process been designated as agent upon whom LP upon whom process against it SSNY designated as agent of LLC foreign equiv) in Comp Sci, Elec & Comp against it may be served. SSNY process against it may be served. may be served. SSNY shall mail upon whom process against it may Engnr’g or rel tech field & 5 yrs of exp creat’g shall mail process to: c/o CT The Post Office address to which the copy of proc. to Att: Raul Espejel, be served. SSNY shall mail process sftwre solutions for the finan srvcs industry Corporation System, 111 Eighth Ave., SSNY shall mail a copy of any 900 Third Ave., 36th Fl., NY, NY to: National Corporate Research, Ltd., or sftwre srvcs industry incl full SDLC NY, NY 10011, also the registered process against the LLC served 10022. DE off. addr.: CSC, 2711 10 E. 40th St., NY, NY 10016, the analysis, dsgn, dvlpmnt & implementation. agent. Principal office: 805 Third upon him/her is: 54 Greene Street, Centerville Rd., Wilmington, DE registered agent upon whom Must have exp in each of the follow’g: Ave., 7th Fl., NY, NY 10022. Address New York, NY 10013. The principal 19808. Cert. of LP on file: SSDE, process may be served. TX address dvlp’g & analyz’g SQL server 2008 sys- to be maintained in DE: Corporation business address of the LLC is 54 Townsend Bldg., Dover, DE 19901. of LLC: 350 North St. Paul St., Ste. tems incl SQL server Reporting srvcs; Trust Center, 1209 Orange St., Greene Street, New York, NY 10013. Name/addr. of each gen. ptr. avail. at 2900, Dallas, TX 75201. Arts. of Org. Wilmington, DE 19801. Arts of Org. Purpose: any lawful act or activity. SSNY. Purp.: any lawful activities. filed TX Secy. of State, P.O. Box support’g Windows & web-based systems; filed with the DE Secretary of State, 13697, Austin, TX 78711. Purpose: util standard dsgn notations incl UML & ER Notice of Formation of CHRISTIAN Notice of Formation of GARSON John G. Townsend Bldg., 401 Federal CASEY INDIA LLC. Arts. of Org. TURKEN FEDERICO JAKUB & RUBIN, any lawful activity. mdling; dsgn’g & dvlp’g C# .NET systems St., Ste. 4, Dover, DE 19901. filed with Secy. of State of NY (SSNY) LLP. Cert. of Reg. filed with Secy. of NOTICE OF FORMATION OF util COM, COM+, Windows Services or Purpose: any lawful activities. on 08/31/12. Office location: NY State of NY (SSNY) on 11/06/12. NOVAEOUS LLC. Arts of Org filed Web Services; & creat’g automated unit Notice of Formation of Unity Biodiesel, County. Princ. office of LLC: c/o Office location: NY County. Princ. with Secy of State of NY (SSNY) on tests using Visual Studio test suite tools. LLC. Arts. of Org. filed with NY Dept. Christian Casey LLC, 710 Broadway, office of LLP: c/o Farrell Fritz PC, Attn: 8/22/12. Office location: NY County. F/T. Resumes: T.Correa, AllianceBernstein of State on 11/8/12. Office location: 2nd Fl., NY, NY 10019. SSNY Thomas J. Killeen Esq., 1320 RXR SSNY designated as agent upon L.P., 1345 Ave of the Americas, New York, NY County. Sec. of State designated designated as agent of LLC upon Plaza, Uniondale, NY 11556-1320. whom process may be served. PO NY 10105. Job: NEWAMA. agent of LLC upon whom process whom process against it may be SSNY designated as agent of LLP address to which SSNY shall mail against it may be served and shall mail served. SSNY shall mail process to upon whom process against it may copy of process against LLC: US PUBLIC & process to: c/o CT Corporation the LLC at the addr. of its princ. be served. SSNY shall mail process Corp Agents, Inc., 7014 13th Ave, System, 111 8th Ave., NY, NY 10011, office. Purpose: Any lawful activity. to the LLP at the addr. of its princ. Bklyn, NY 11228. Principal business LEGAL NOTICES regd. agent upon whom process may be office. Purpose: Any lawful activity. NOTICE OF FORMATION OF My Best address: 49 W 96 St., #3D, NY, NY served. Purpose: all lawful purposes. Notice of Qualification of GRENADIER Relationship Psychological Services, SCORUS B2 LLC, Arts. of Org. filed 10025. Purpose: any lawful act. REALTY MANAGEMENT LLC. KAFU RESTURANT LLC Art. Of PLLC. Arts of Org filed with the Secy with the SSNY on 06/28/2012. Office Notice of Formation of Spruce 78 Authority filed with Secy. of State of NY Org. Filed Sec. of State of NY of State of NY 9/18/12 in NY County. loc: NY County. SSNY has been Member LLC, Art. of Org. filed Sec’y of (SSNY) on 11/08/12. Office location: 08/08/2012. Off. Loc.:New York Co. SSNY designated as agent upon designated as agent upon whom State (SSNY) 6/29/12. Office location: NY County. LLC formed in Delaware SSNY designated as agent upon whom process may be served and process against the LLC may be NY County. SSNY designated as (DE) on 10/25/12. Princ. office of whom process against it may be shall mail copy of process against served. SSNY shall mail process to: agent of LLC upon whom process LLC: 345 Park Ave., NY, NY 10154. served. SSNY to mail copy of LLC to principal business address: Bradley S. Farber , 1965 Broadway against it may be served. SSNY shall SSNY designated as agent of LLC process to The LLC, 1551 Nostrand 1133 Broadway, Ste 1028, NY, NY 8D, NY, NY 10023. Purpose: Any mail copy of process to Att: Joshua upon whom process against it may Avenue, Brooklyn, NY 11226. 10010. Purpose: any lawful act. Lawful Purpose. Crane, 902 Broadway, 18th Fl., NY, NY be served. SSNY shall mail process Purpose: Any lawful act or activity. 10010. Purpose: any lawful activities. to c/o Corporation Service Co. Notice is hereby given that a license Notice of Formation of Micliff Partners, 21 ST REALTY LLC, a domestic LLC, (CSC), 80 State St., Albany, NY number 1267034 for beer and wine LLC. Arts. of Org. filed with Secy. of Notice of Formation of CHAI SOLAR, Arts. of Org. filed with the SSNY on 12207-2543. DE addr. of LLC: CSC, has been applied for by ZEN 6 INC. State of NY (SSNY) on 10/26/2012. LLC. Arts. of Org. filed Secy. of State 9/4/12. Office location: New York 2711 Centerville Rd., Ste. 400, D.B.A. RAMEN AND GYOZA HOUSE Off. loc.: NY County. SSNY designated of NY (SSNY) on 10/15/2012. Off. loc.: County. SSNY is designated as Wilmington, DE 19808. Arts. of Org. ZEN 6 to sell beer and wine at retail as agent of LLC upon whom process NY County. SSNY designated as agent agent upon whom process against filed with DE Secy. of State, 401 in the restaurant under the alcoholic against it may be served. SSNY shall of LLC upon whom process against the LLC may be served. SSNY shall Federal St., Ste. 4, Dover, DE 19901. beverage control law at 328 EAST mail process to: Montgomery it may be served. SSNY shall mail mail process to: The LLC, 11 Winnie Purpose: Any lawful activity. 6TH STREET, NEW YORK, NY 10003 McCracken, 437 Madison Ave., NY, NY process to: 780 Riverside Drive, #8-F, Palmer Ct., Monroe, NJ 08831. for on premise consumption. 10022. Purpose: any lawful activity. NY, NY 10032. Term: until 12/31/2062. Notice of Formation of CDVCA General Purposes. Purpose: any lawful activity. INNOVATE NY GP, LLC. Arts. of Org. Notice of Formation of PEACH FRANKIE & COMPANY, LLC Articles filed with Secy. of State of NY LAW OFFICE OF FREDERICA L. PRODUCTIONS LLC. Arts. of Org. of Org. filed NY Sec. of State (SSNY) KADIMA LLC, a domestic LLC, Arts. (SSNY) on 09/27/12. Office location: MILLER, PLLC, a Prof.LLC. Arts. of Org. filed with Secy. of State of NY 10/12/12. Office in NY Co. SSNY of Org. filed with the SSNY on 8/8/12. NY County. Princ. office of LLC: 424 filed with the SSNY on 09/25/2012. (SSNY) on 07/16/12. Office location: desig. agent of LLC upon whom Office location: New York County. W. 33rd St., #320, NY, NY 10001. Office loc: NY County. SSNY has been NY County. SSNY designated as process may be served. SSNY shall SSNY is designated as agent upon SSNY designated as agent of LLC designated as agent upon whom agent of LLC upon whom process mail copy of process to 263 E. 10th whom process against the LLC may be upon whom process against it may process against it may be served. SSNY against it may be served. SSNY shall St., NY, NY 10009, which is also the served. SSNY shall mail process to: be served. SSNY shall mail process shall mail process to: 299 Broadway, mail process to Josh Pultz, 457 W. principal business location. Purpose: The LLC, 290 West End Ave., Apt. 16C, to the LLC at the addr. of its princ. Ste 800, NY, NY 10007. Purpose: To 143rd St., NY, NY 10031. Purpose: Any lawful purpose. NY, NY 10023. General Purposes. office. Purpose: Any lawful activity. Practice The Profession Of Law. Any lawful activity. Notice of Formation of FOX HILL Notice is hereby given that a license, Notice of Formation of Axelon Data NOTICE OF FORMATION OF 306 West NOTICE OF FORMATION OF Sexpot, PRESERVATION, L.P. Arts. of Org. filed number 1266938 for restaurant Industries Joint Venture, LLC. Arts. of 148th Street., LLC. Arts of Org filed LLC. Arts of Org filed with Secretary with Secy. of State of NY (SSNY) on wine has been applied for by the Org. filed with NY Dept. of State on with Secy of State of NY (SSNY) on of State of NY (SSNY) on 10/10/12. 10/15/12. Office location: NY County. undersigned to sell beer & wine at 10/16/12. Office location: NY County. 10/19/11. Office location: NY County. Office Location: NY County. SSNY Princ. office of LLC: 60 Columbus retail in a restaurant under the Sec. of State designated agent of LLC SSNY designated as agent upon whom designated as agent upon whom Circle, NY, NY 10023. Latest date on Alcoholic Beverage Control Law at upon whom process against it may process may be served and shall process may be served and shall which the LLC may dissolve is 752 10th Ave, N.Y. ,N.Y. 10019 for be served and shall mail process to: mail copy of process against LLC to mail copy to process against LLC 12/31/2111. SSNY designated as on premise consumption. Edward 1370 Broadway, Suite 509, NY, NY principal business address: C/O to: LEGALZOOM.COM. Principal agent of LLC upon whom process Stars Corporation t/a Kare Thai. Bottom Line Construction 217-01 10018. Purpose: any lawful purpose. business address: 15 William Street, against it may be served. SSNY shall Merrick Blvd., Ste. 201, Laurelton, Notice of Formation of Ilana Ariel LLC. 20F, New York, NY 10005. mail process to c/o Corporation NOTICE OF FORMATION of Bohemian NY, 11413. Purpose: any lawful act. Art. of Org. filed with the NY Sec. of NOTICE OF FORMATION OF Rickey Service Co., 80 State St., Albany, NY Bop, LLC. Arts. of Org. filed with NY State (SSNY) on 9/11/12. Office LLC. Arts of Org filed with Secy of 12207. Purpose: Any lawful activity. Dept. of State on 9/17/2012. Office Notice of Qualification of Tetra Tech location: NY County. Sec. of State New Martinsville, LLC. Authority filed location: NY County. SSNY is designated State of NY (SSNY) on 9/25/12. Office Notice of Qualification of New York as agent of LLC upon whom process location: NY County. SSNY designated designated agent of LLC upon whom with NY Dept. of State on 10/4/12. Holdings Equity, LLC. Authority filed process against it may be served Office location: NY County. Princ. bus. may be served. SSNY shall mail copy as agent upon whom process may be with NY Dept. of State on 10/9/12. of process to Attn: Ilana Sarna 210 served and shall mail copy of process and shall mail process to: 400 W. addr.: 3475 E. Foothill Blvd., Pasadena, NYS fictitious name: HG New York 14th St., App. 2C, NY, NY 10014, CA 91107. LLC formed in DE on Chestnut Street Englewood, NJ against LLC to principal business Holdings Equity, LLC. Office location: 07631. Purpose: Any lawful purpose. address: 413 9TH AVE APT 2B, NY, principal business address. Purpose: 2/4/11. NY Sec. of State designated NY County. LLC formed in VA on any lawful activity. agent of LLC upon whom process NOTICE OF FORMATION OF KITALIANA NY 10001. Purpose: any lawful act. 4/2/12. NY Sec. of State designated against it may be served and shall LLC. Arts of Org filed with Secy of NOTICE OF FORMATION OF Patrick agent of LLC upon whom process Notice of Formation of Central Park mail process to: c/o CT Corporation State of NY (SSNY) on 7/9/12. Office Gerard Carmody, Architect PLLC. Arts against it may be served and shall Entertainment, LLC. Arts. of Org. filed System, 111 8th Ave., NY, NY 10011, location: NY County. SSNY designated of Org filed with Secy of State of NY mail process to: c/o CT Corporation with Secy. of State of NY (SSNY) on regd. agent upon whom process may as agent upon whom process may (SSNY) on 9/6/12. Office location: NY System, 111 8th Ave., NY, NY 10011, 10/24/12. Office location: NY County. be served. DE addr. of LLC: 1209 be served and shall mail copy of County. SSNY designated as agent regd. agent upon whom process may SSNY designated as agent of LLC Orange St., Wilmington, DE 19801. process against LLC to principal upon whom process may be served be served. VA and principal business upon whom process against it may Cert. of Form. filed with DE Sec. of business address: 26 King St #4, NY, and shall mail copy of process addr.: 999 Waterside Dr., Ste. 2300, be served. SSNY shall mail process State, 401 Federal St., Dover, DE NY 10014. Purpose: any lawful act. against PLLC to principal business Norfolk, VA 23510. Cert. of Org. filed to: National Registered Agents, Inc., 111 Eighth Ave., NY, NY 10011, also 19901. Purpose: all lawful purposes. NOTICE OF QUALIFICATION of address: 54 W 21st St, Ste 606 NY, with State Corporation Commissioner, the registered agent. Purpose: any Notice of Qualification of GRAYCLIFF CALAMOS ADVISORS LLC. App for NY 10010. Purpose: any lawful act. 1300 E. Main St., Richmond, VA lawful activities. SBIC PARTNERS GP LLC. Authority Authority filed with Secy of State of NY Notice of Qualification of COSMOS 23219. Purpose: all lawful purposes. filed with Secy. of State of NY (SSNY) (SSNY) on 10/1/12. Office location: STADIUM, LLC. Authority filed with Notice of Qualification of LKRT LLC. Notice of Formation of a Limited on 11/07/12. Office location: NY NY County. LLC formed in DE on Secy. of State of NY (SSNY) on Authority filed with Secy. of State of NY Liability Company (LLC): Name: SALIS County. LLC formed in Delaware (DE) 9/15/04. SSNY designated agent 10/19/12. Office location: NY County. (SSNY) on 10/10/12. Office location: RETIREMENT AND PENSION PLAN on 08/30/12. Princ. office of LLC: upon whom process may be served. LLC formed in Delaware (DE) on NY County. LLC formed in Delaware LLC. Article of Organization filed with Stephen Hindmarch, c/o Graycliff PO address to which SSNY shall 09/25/12. Princ. office of LLC: 75 (DE) on 10/03/12. Princ. office of the Secretary of State of New York Partners, 500 Fifth Ave., 47th Fl., NY, mail copy of process against LLC: Greene St., 2nd Fl., NY, NY 10012. LLC: 136 E. 57th St., 13th Fl., NY, NY (SSNY) on 05/03/2012. Office Location: NY 10110. SSNY designated as Attn: General Counsel 2020 Calamos SSNY designated as agent of LLC 10022. SSNY designated as agent of New York County. SSNY has been agent of LLC upon whom process Court Naperville, IL 60563. Principal upon whom process against it may be LLC upon whom process against it designated as agent of the LLC upon against it may be served. SSNY shall business address: 610 Fifth Ave. Ste served. SSNY shall mail process to may be served. SSNY shall mail whom process against it may be mail process to the LLC at the addr. 700 NY, NY 10020. DE address of the LLC at the addr. of its princ. office. process to L&R LLC at the princ. served. SSNY shall mail a copy of the of its princ. office. DE addr. of LLC: LLC: Corp Service Co. 2711 DE addr. of LLC: 2711 Centerville office of the LLC. DE addr. of LLC: process to: C/O SALIS RETIREMENT 1313 N. Market St., Ste. 5100, Centerville Rd. Ste 400 Wilmington, Rd., Ste. 400, Wilmington, DE 19808. 2711 Centerville Rd., Ste. 400, AND PENSION PLAN LLC, 42 Wilmington, DE 19801. Arts. of Org. DE 19808. Cert of LLC filed with Cert. of Form. filed with Jeffrey W. Wilmington, DE 19808. Arts. of Org. Broadway Room 1133, New York, NY filed with Secy. of State, 401 Federal Secy of State of DE located: 401 Bullock, DE Secy. of State, Townsend filed with DE Secy. of State, Corp. 10004. Purpose: Any Lawful Purpose. St., Ste. 4, Dover, DE 19901. Federal St Dover, DE 19901. Bldg., 401 Federal St., Ste.3, Dover, Div., P.O. Box 898, Dover, DE 19903. Latest date upon which LLC is to Purpose: Any lawful activity. Purpose: any lawful act. DE 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. dissolve: No specific date.

22 | Crain’s New York Business | November 26, 2012 nb48p22-24cl.qxp 11/21/2012 2:22 PM Page 23

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of Duke Energy NOTICE OF QUALIFICATION OF NOTICE OF QUALIFICATION of Notice of Qualification of BDT & Notice of Qualification of STANDARD Renewable Services, LLC. Authority CROSSTOWN BUTLER 280 LLC, auth. Forexware LLC. App for Authority COMPANY, LLC. Authority filed with PARTNERS, L.P. Authority filed with filed with NY Dept. of State on filed Sec’y of State (SSNY) 9/26/12. filed with Secy of State of NY (SSNY) Secy. of State of NY (SSNY) on Secy. of State of NY (SSNY) on 11/5/12. Office location: NY County. Office LLC: NY County. LLC Org. in on 10/5/12. Office location: NY 10/26/12. Office location: NY County. 09/28/12. Office location: NY County. Princ. bus. addr.: 550 S. Tryon St., DE. 9/24/12. SSNY desig. as agent County. LLC formed in DE on 3/15/12. LLC formed in Delaware (DE) on LP formed in Delaware (DE) on Charlotte, NC 28202. LLC formed in of LLC upon whom process against SSNY designated agent upon whom 04/30/09. Princ. office of LLC: William 09/20/12. Princ. office of LP: 45 W. DE on 10/22/12. NY Sec. of State it may be served. SSNY shall mail process may be served. PO address R. Bush, BDT Capital Partners, LLC, 67th St., Apt. 28F, NY, NY 10023. designated agent of LLC upon copy of proc. to: Crosstown Parking to which SSNY shall mail copy of 401 N. Michigan Ave., Ste. 3100, SSNY designated as agent of LP whom process against it may be Inc., Suite 1010, 594 Broadway, NY, process against LLC: Delaware Chicago, IL 60611. NYS fictitious name: upon whom process against it may served and shall mail process to: NY 10012. DE Off. addr: 3500 South Intercorp, Inc., 113 Barksdale BDTCO & COMPANY, LLC. SSNY be served. SSNY shall mail process c/o CT Corporation System, 111 8th Dupont Highway, Dover, DE 19901. Professional Center, Newark, DE designated as agent of LLC upon whom to c/o Chad Gustafson at the princ. Ave., NY, NY 10011, regd. agent Cert. of Form. on file: SSDE, 19113. Principal business address: process against it may be served. office of the LP. Name and addr. of upon whom process may be served. Townsend Bldg., Dover, DE 19901. Forexware LLC, 7 World Trade Center, SSNY shall mail process to the LLC at each general partner are available DE addr. of LLC: c/o The Purp.: Any lawful activities. 32nd Fl, NY, NY, 10007. Cert of LLC the addr. of its princ. office. DE addr. of from SSNY. DE addr. of LP: c/o Corporation Trust Co., 1209 Orange filed with Secy of State of DE located: LLC: The Corp. Trust Co., Corp. Trust Corporation Service Co., 2711 St., Wilmington, DE 19801. Cert. of Notice of Formation of Limited Liability DE Division of Corps, Secy of State, Center, 1209 Orange St., Wilmington, Centerville Rd., Ste. 400, Wilmington, Form. filed with DE Sec. of State, Company (LLC) Name: PROSCENIUM 401 Federal St, Ste 4, Dover DE DE 19801. Arts. of Org. filed with Secy. DE 19808. Arts. of Org. filed with the 401 Federal St., Dover, DE 19901. HOLDINGS, LLC. Articles of 19901. Purpose: any lawful act. of State-DE, Corp. Dept., Secy. of State of the State of DE, Purpose: all lawful purposes. Organization filed by the Department Loockerman & Federal Sts., Dover, DE Dept. of State, John G. Townsend Notice of Qualification of Hunt Capital of State of New York on: 10/23/2012. 19901. Purpose: Any lawful activity. Bldg., 401 Federal St., Dover, DE Notice of Qualification of NYAI Partners, LLC. App. for Auth. filed Secy. Office location: County of New York. 19901. Purpose: Any lawful activity. Management, LLC. App. for Auth. Purpose: any and all lawful activities. of State of NY (SSNY) on 10/3/12. NOTICE OF FORMATION OF 1A-60 filed Secy. of State of NY (SSNY) on Secretary of State of New York Off. loc.: NY County. LLC formed in COLLISTER STREET LLC. Arts of NOTICE OF FORMATION OF 1B-60 10/24/12. Off. loc.: NY County. LLC (SSNY) designated as agent of LLC Delaware (DE) on 8/31/10. SSNY Org filed w/ Secy of State of NY Collister Street LLC. Arts of Org formed in Delaware (DE) on 10/18/12. upon whom process against it may designated as agent of LLC upon whom (SSNY) on 6/25/12. Office location: filed w/ Secy of State of NY (SSNY) SSNY designated as agent of LLC be served. SSNY shall mail a copy of process against it may be served. NY Co. SSNY designated agent on 6/25/12. Office location: NY Co. upon whom process against it may process to: c/o Schwartzman Garelik SSNY shall mail process to: Capitol upon whom process may be served. SSNY designated agent upon be served. SSNY shall mail process Walker & Troy, P.C., 355 Lexington Services, Inc., 1218 Central Ave., Ste. PO address to which SSNY shall mail whom process may be served. PO to: c/o Alexander Capital Wealth Avenue, New York, NY 10017. 100, Albany, NY 12205. DE address copy of process against LLC: 718 address to which SSNY shall mail Management LLC, 17 State St., NY, NY of LLC: 1675 South State St., Ste. B, Ashford St. Bklyn, NY 11207. copy of process against LLC: 718 10004. DE address of LLC: c/o United Notice of Qual. of Sunyata Global Dover, DE 19901. Arts. of Org. filed Principal business address: 60 Ashford St. Bklyn, NY 11207. Corporate Services, Inc., 874 Walker Value Fund LP, Auth. filed Sec’y of DE Secy. of State, 401 Federal St., Collister St #1B NY, NY 10013. Principal business address: 60 State (SSNY) 4/13/12. Office loc.: NY Road, Ste. C, Dover, DE 19904. Arts. Ste. 4, Dover, DE 19901. Purpose: Notice of Qual. of Tempus Quo Collister St #1B NY, NY 10013. of Org. filed DE Secy. of State, 401 County. LP org. in DE 2/16/12. SSNY any lawful act or activity. desig. as agent of LP upon whom Horizon Fund, LP, Auth. filed Sec’y of Notice of Qual. of Sunyata Global Federal St., Ste. 4, Dover, DE 19901. State (SSNY) 2/13/12. Office loc.: NY Purpose: any lawful activity. process against it may be served. SSNY Notice of Formation of 69-73 GREENE Value LLC, Auth. filed Sec’y of State shall mail copy of proc. to Att: Keith STREET OWNER, LLC. Arts. of Org. County. LP org. in DE 8/3/11. SSNY (SSNY) 4/13/12. Office loc.: NY County. NOTICE OF FORMATION OF Koeferl, 529 5th Ave., 8th Fl., Ste. B1, filed with Secy. of State of NY (SSNY) desig. as agent of LP upon whom LLC org. in DE 2/16/12. SSNY desig. ideaphore LLC. Arts of Org filed with NY, NY 10017. DE off. addr.: CSC, on 10/24/12. Office location: NY process against it may be served. as agent of LLC upon whom process Secy of State of NY (SSNY) on 2711 Centerville Rd., Wilmington, DE County. SSNY designated as agent SSNY shall mail copy of proc. to Att: against it may be served. SSNY shall 9/6/12. Office location: NY County. 19808. Cert. of LP on file: SSDE, of LLC upon whom process against Raul Espejel, 900 Third Ave., 36th Fl., mail copy of proc. to Att: Keith SSNY designated as agent upon Townsend Bldg., Dover, DE 19901. it may be served. SSNY shall mail NY, NY 10022. DE off. addr.: CSC, Koeferl, 529 5th Ave., 8th Fl., Ste. B1, whom process may be served. PO Name/addr. of each gen. ptr. avail. at process to Corporation Service Co., 2711 Centerville Rd., Wilmington, DE NY, NY 10017. DE off. addr.: CSC, address to which SSNY shall mail SSNY. Purp.: any lawful activities. 80 State St., Albany, NY 12207-2543, 19808. Cert. of LP on file: SSDE, 2711 Centerville Rd., Wilmington, DE copy of process against LLC: 7014 regd. agent upon whom and at Townsend Bldg., Dover, DE 19901. 19808. Cert. of Form. on file: SSDE, 13th Ave, Ste 202, Bklyn, NY, 11228 Notice of Formation of Horizon which process may be served. Name/addr. of each gen. ptr. avail. at Sterling LLC. Arts. of Org. filed with Townsend Bldg., Dover, DE 19901. c/o US Corp Agents, Inc. Principal Purpose: Any lawful activity. SSNY. Purp.: any lawful activities. Purp.: any lawful activities. business address: 201 E 86th St, NY, Secy. of State of NY (SSNY) on Notice of Formation of FWS Internet 287 10TH AVENUE, LLC Articles of NY 10028. Purpose: any lawful act. 10/12/12. Office location: NY County. NOTICE OF FORMATION OF SSNY designated as agent of LLC Design Company LLC. Arts. of Org. Org. filed NY Sec. of State (SSNY) LogicShark Consulting, LLC. Arts of Notice of Formation of FOX HILL upon whom process against it may be filed with NY Dept. of State on 7/25/12. 8/13/12. Office in NY Co. SSNY Org filed with Secy of State of NY PRESERVATION DEVELOPER, LLC. served. SSNY shall mail process to: Office location: NY County. Sec. of design. agent of LLC upon whom (SSNY) on 1/28/02. Office location: NY Arts. of Org. filed with Secy. of State The LLC, Attn: David Marom, 201 State designated agent of LLC upon process may be served. SSNY shall County. SSNY designated as agent of NY (SSNY) on 10/15/12. Office East 83rd St., Apt. 17A, NY, NY 10028. whom process against it may be mail copy of process to C/O upon whom process may be served. location: NY County. Princ. office of Purpose: any lawful activities. served and shall mail process to the Dominick Incantalupo, P.O. Box 330, PO address to which SSNY shall LLC: 60 Columbus Circle, NY, NY principal business addr.: 1230 Ave. 109 Homestead Road, Oldwick, NJ mail copy of process against LLC: 10023. SSNY designated as agent of NOTICE OF FORMATION OF Ryder of the Americas, 7th Fl., NY, NY 08858. Purpose: Any lawful activity. Street LLC. Arts of Org filed with the None. Principal business address: LLC upon whom process against it 10020. Purpose: any lawful activity. NOTICE OF FORMATION OF Chaos 274 Madison Ave., Ste 1804, NY, NY may be served. SSNY shall mail Secy of State of NY (SSNY) on 09/24/2012. Office location: NY Notice of Formation of Source Complex Entertainment LLC. Arts of 10016. Purpose: any lawful act. process to c/o Corporation Service Financial Advisors, LLC, Art. of Org. Org filed with Secy of State of NY County. SSNY designated as agent NOTICE OF FORMATION OF FULL Co., 80 State St., Albany, NY 12207. filed Sec’y of State (SSNY) 7/23/12. (SSNY) on 8/31/12. Office location: NY upon whom process may be served FLAVOR LLC. Arts of Org filed with Purpose: Any lawful activity. Office location: NY County. SSNY County. SSNY designated as agent and shall mail a copy of any process Secy of State of NY (SSNY) on designated as agent of LLC upon upon whom process may be served CREATIVE PACKAGING SOLUTIONS to the principal business address: 9/12/12. Office location: NY County. whom process against it may be and shall mail copy of process against LLC, Arts. of Org. filed with the SSNY 1641 Third Ave, Apt. 25K, N.Y., N.Y., SSNY designated as agent upon served. SSNY shall mail copy of LLC to principal business address: on 07/26/2012. Office loc: NY County. 10128. Purpose: any lawful act. whom process may be served and process to Michelle Smith, 500 W. 38 E. 21st St. Apt. 9, NY, NY, 10010. SSNY has been designated as agent shall mail copy of any process Notice of Formation of NuChallenger 56th St., PH-9, NY, NY 10019. Purpose: any lawful act. upon whom process against the LLC against LLC to principal business may be served. SSNY shall mail pro- LLC. Art. of Org. filed Sec’y of State Purpose: any lawful activities. NOTICE OF FORMATION OF IDIP, LLC. (SSNY) 07/16/2012. Principal Office: address: 60 RIVERSIDE BLVD, STE cess to: 200 E. 33rd St. Ste 3i, NY, NY NOTICE OF FORMATION of Revolution Arts of Org filed with Secy of State of 424 E. 13 St, Apt 28, NY, NY. SSNY 1802, NEW YORK, NY 10069. 10016. Purpose: Any Lawful Purpose. Songs LLC. Office Location: NY NY (SSNY) on 8/20/12. Office location: designated as process agent. Process Purpose: any lawful act. County. Arts. of Org. filed with Secy. of NY County. SSNY designated as Notice of Qualification of CERBERUS Service address: 424 E. 13 St, Apt 28, State of NY (SSNY) on 6/20/12. SSNY agent upon whom process may be Notice of Qual. of Sierra Europe QP, LEVERED LOAN OPPORTUNITIES NY, NY. Purpose: any lawful activity. FUND II, L.P. Authority filed with Secy. has been designated as agent of LLC served and shall mail copy of L.P., Auth. filed Sec’y of State (SSNY) of State of NY (SSNY) on 10/16/12. Notice of Qualification of 1565 upon whom process against it may be process against LLC to: 47 Jefferson 3/9/12. Office loc.: NY County. LP Office location: NY County. LP formed BROADWAY LLC. Authority filed with served. SSNY shall mail process to Ave, Hasting on Hudson, NY 10706. org. in DE 3/7/12. SSNY desig. as in Delaware (DE) on 08/31/12. Princ. Secy. of State of NY (SSNY) on 630 Ninth Ave, Ste 801, NY, NY 10036, Principal business address: 244 Fifth agent of LP upon whom process office of LP: 875 Third Ave., 11th Fl., 10/11/12. Office location: NY County. also its principle office location. Ave, Ste 2423, NY NY 10001. against it may be served. SSNY NY, NY 10022. SSNY designated as LLC formed in Delaware (DE) on Purpose: any lawful activities. Purpose: any lawful act. shall mail copy of proc. to Att: Craig Peretz, 126 E. 56th St., 18th Fl., NY, agent of LP upon whom process 10/10/12. SSNY designated as agent KUDIA LLC Articles of Org. filed NY Notice of Qual. of Stimulated against it may be served. SSNY shall of LLC upon whom process against NY 10022. DE off. addr.: CSC, 2711 Sec. of State (SSNY) 10/22/12. Office Motorsports International LLC, Auth. Centerville Rd., Wilmington, DE mail process to Seth P. Plattus, c/o it may be served. SSNY shall mail in NY Co. SSNY desig. agent of LLC filed Sec’y of State (SSNY) 7/31/12. the LLC at the princ. office of the LP. process to c/o Corporation Service 19808. Cert. of LP on file: SSDE, upon whom process may be served. Office loc.: NY County. LLC org. in DE Townsend Bldg., Dover, DE 19901. Name and addr. of each general Co. (CSC), 80 State St., Albany, NY SSNY shall mail copy of process to c/o 7/27/12. SSNY desig. as agent of LLC partner are available from SSNY. DE 12207-2543, regd. agent upon whom Name/addr. of each gen. ptr. avail. Law offices of Steven M. Nachman, upon whom process against it may at SSNY. Purp.: any lawful activities. addr. of LP: c/o The Corporation and at which process may be served. 675 3rd Ave., 29th Fl, NY, NY 10017, be served. SSNY shall mail copy of Trust Co., Corp. Trust Center, 1209 DE addr. of LLC: c/o CSC, 2711 which is also the principal business proc. to NRAI, 111 Eighth Ave., NY, Notice of Formation of RED HOOK Orange St., Wilmington, DE 19801. Centerville Rd., Ste. 400, Wilmington, location. Purpose: Any lawful purpose. NY 10011, the Reg. Agt. upon whom SE LLC. Arts. of Org. filed with Secy. Arts. of Org. filed with DE Secy. of DE 19808. Arts. of Org. filed with proc. may be served. DE off. addr.: of State of NY (SSNY) on 10/22/12. State, John G. Townsend Bldg., 401 Secy. of State, Div. of Corps., Notice of Qualification of Cinram Office location: NY County. SSNY Business Intelligence LLC. Authority 160 Greentree Dr., Ste. 101, Dover, Federal St., Ste. #4, Dover, DE Townsend Bldg., Dover, DE 19901. DE 19904. Cert. of Form. on file: designated as agent of LLC upon whom 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. filed with NY Dept. of State on process against it may be served. SSNY 11/6/12. Office location: NY County. SSDE, Townsend Bldg., Dover, DE 19901. Purp.: any lawful activities. shall mail process to c/o VE Equities Princ. bus. addr.: 1400 E. LLC, 12 Mercer St., 3rd Fl., NY, NY Get connected with Crain’s New York Business. Lackawanna Ave., Olyphant, PA NOTICE OF FORMATION OF Leder 10013. Purpose: Any lawful activity. 18448. LLC formed in DE on 7/11/12. Capital Management LLC. Arts of NY Sec. of State designated agent of Org filed with Secy of State of NY Notice of Conversion of Oscar Gruss LLC upon whom process against it (SSNY) on 9/24/12. Office location: & Son, a partnership, to 74 Broad LLC. Promote your product or service to NY’s decision makers with an affordable business card size ad in our Business Connections section. may be served and shall mail process NY County. SSNY designated as Cert. filed with NY Dept. of State on to: c/o CT Corporation System, 111 agent upon whom process may be 10/22/12. Office location: NY County. Issue Date for Business Connections: 8th Ave., NY, NY 10011, regd. agent served. PO address to which SSNY Sec. of State designated agent of LLC Book of Lists (12/24) upon whom process may be served. shall mail copy of process against upon whom process against it may DE addr. of LLC: 1209 Orange St., LLC: c/o US Corp Agents, Inc., 7014 be served and shall mail process to: For more information on this powerful opportunity Wilmington, DE 19801. Cert. of Form. 13th Ave., Ste 202, Bklyn, NY 11228. c/o Oscar Gruss & Son Inc., Attn: to showcase your business, call Joanne Barbieri at 212-210-0189 or email Joanne at [email protected] filed with DE Sec. of State, 401 Principal business address: 150 Emanuel Gruss, 292 Madison Ave., Federal St., Dover, DE 19901. Ocean Ave, Ste 4B, Bklyn, NY NY, NY 10017, principal business Let Crain’s New York Business help you secure new clients in 2013. Purpose: all lawful purposes. 11225. Purpose: any lawful act. address. Purpose: any lawful activity.

November 26, 2012 | Crain’s New York Business | 23 20121126-NEWS--0024-NAT-CCI-CN_-- 11/20/2012 2:01 PM Page 1

FOR THE RECORD

REAL ESTATE DEALS ● BlackRock Kelso Capital Corp. (BKCC) stock at $78.87 on Oct. 18, in a James Grosfeld, independent director, transaction worth $4,002,731. On the ABOUT THIS SECTION Companies that would like to have details purchased 449,998 shares of common same day, he sold 50,751 shares of FOR THE RECORD is a weekly listing of information from the public record that of their recent transactions appear in these stock at prices ranging from $186.83 to common stock at $123.76, in a can help businesspeople in the New York area find opportunities, potential listings should email descriptions following $192.00 between Oct. 18 and Oct. 25, in transaction worth $6,280,893. He now this format to ELaermer@crainsnewyork a transaction worth $85,353,784. He directly holds 1,042,450 shares. new clients and updates on competitors. .com, with “Real estate transaction” in the now holds 654,538 shares, part To ask questions or get more information on this section, contact Crain’s subject line, or enter them online at indirectly and part directly. ● JPMorgan Chase (JPM) research department at [email protected]. crainsnewyork.com/submitadeal. Deals are Frank J. Bisignano, co-chief operating listed in order of square footage. ● Goldman Sachs Group Inc. (GS) officer, chief executive officer of Michael S. Sherwood, co-chief executive mortgage banking, exercised options on ● Tacos & Burritos Grill COMMERCIAL and vice chair, exercised options on 80,000 shares of common stock at NEW IN TOWN 252 Propect Park West, Brooklyn ● Hudson TG signed a lease for 3,250 115,211 shares of common stock at $19.49 on Oct. 15, in a transaction Filed for Chapter 7 bankruptcy square feet at 220 E. 23rd St. The $78.87 between Oct. 17 and Oct. 18, in worth $1,559,200. On the same day, he Companies that would like to have details protection on Oct. 23. The filing cites political consulting, fundraising and a transaction worth $9,086,692. During sold 20,000 shares of common stock at of openings published should submit estimated liabilities of $0 to $50,000 and government relations firm will occupy the same period, he sold 115,211 shares $42.25 in a transaction worth $844,942. descriptions following this format to estimated assets of $0 to $50,000. space on the eighth floor. The tenant of common stock at prices ranging from He now directly holds 222,189 shares. [email protected], with was represented by Elizabeth Juviler of $123.92 to $125.04, in a transaction “New in Town” in the subject line. Rice & Associates. The landlord, Elias worth $14,313,873. He now directly Michael L. Cavanagh, co-chief GOVERNMENT CONTRACT Kalmian, was represented by JMD holds 371,345 shares. executive officer of corporate and ● Antica Pesa OPPORTUNITIES Realty Advisors’ Josh Dionne. The investment banking, sold 40,000 shares 115 Berry St., Brooklyn asking rent was not disclosed. Lloyd C. Blankfein, chief executive, of common stock at $42.00 on Oct. 15, The restaurant opened in Williamsburg. Following are selected contract chairman and director, exercised options in a transaction worth $1,679,948. He The menu will feature traditional opportunities recently announced by New ● Latin Markets Brazil has renewed its on 68,836 shares of common stock at now directly holds 234,765 shares. Roman cuisine. York City agencies.To learn how to sell lease at 8 W. 37th St. The firm will $78.87 between Oct. 17 and Oct. 18, in goods and services to city government, visit continue to operate out of its 2,700- a transaction worth $5,429,096. During ● Estée Lauder Companies Inc. (EL) ● Corvo Bianco www.nyc.gov/selltonyc. For a searchable square-foot seventh-floor space. The the same period, he sold 68,836 shares Amy Digeso, executive vice president, 446 Columbus Ave., Manhattan database of current procurement notices, tenant was represented by Mitchell of common stock at prices ranging from divisional, exercised options on 21,223 The restaurant opened on the Upper visit www.nyc.gov/cityrecord. Listings are Kunikoff, Jeffrey Ram and Dennis $123.92 to $125.04, in a transaction shares of common stock at $17.00 West Side. It serves coastal northern alphabetical by category and department. Someck of Lee & Associates. The worth $8,574,190. He now directly between Oct. 16 and Oct. 17, in a Italian fare. landlord, 8 W. 37th St. LLC, was holds 2,128,640 shares. transaction worth $360,791. On the CONSTRUCTION SERVICES represented by Joseph Mangiacotta of same day, she sold 21,223 shares of ● Miguel Antoinne ● Department of Citywide Administrative CBRE. The asking rent was in the low David A. Viniar, chief financial officer common stock at $65.00, in a 39 Wooster St., Manhattan Services to mid-$30s per square foot. and executive vice president, exercised transaction worth $1,379,495. She The designer opened a store in SoHo. It Seeks competitive sealed bids by 11:30 options on 50,751 shares of common now directly holds 24,101 shares. Ⅲ is his first stand-alone shop. a.m. on Dec. 12 for one contract that ● Nelson Byrd Woltz Landscape includes mechanical, general Architects signed a lease for 2,300 square ● Nouvelle Vag construction, plumbing and electrical feet at 28 E. 22nd St. The architectural 468 Lincoln Place, Brooklyn work for a new cooling tower system at firm will occupy space on the second DEALS ROUNDUP The coffee shop opened in Prospect 100 Centre St. Bid documents can be floor.The tenant was represented by Heights. It will also serve as a local art downloaded for free from City Record Elissa Groh of Rice & Associates.The gallery. online or purchased at the DCAS landlord, ASA Lofts Inc., was repre- TRANSACTION SIZE Agency Purchasing Unit for $35, sented by Evan Algier of ABS Partners. SELLER/TARGET (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE payable only by company check or The asking rent was not disclosed. Adage Capital $3,957.2 PVH Corp. (Manhattan) SB M&A COMPANY MOVES money order made out to DCAS. For Management, Blue more information or to obtain bid RETAIL Harbour Group/Warnaco Companies that would like to have details documents, contact Eugene Werner at ● Michael Kors has signed a lease for Group Inc. of recent moves published should submit (212) 386-0403 or ewerner@ 8,300 square feet at 11 W. 42nd St. The Columbia Management $2,212.6 RedPrairie Corp. SB M&A descriptions following this format to dcas.nyc.gov. retailer is expanding its headquarters Investment Advisers, Praesidium Investment [email protected], with and will occupy space on the 19th floor. ● Management Co. “Company Moves” in the subject line. Department of Environmental Protection The tenant was represented by (Manhattan), Thoma Bravo/ Requests qualifications packages by 4 Cushman & Wakefield’s Glenn JDA Software Group Inc. ● Eddie’s Haircut and Shave p.m. on Feb. 1 from general construction Markman and Danielle Zimbara. The Apollo Global $848.0 Athene Holding Ltd. SB M&A 1295 First Ave., Manhattan contractors to establish a prequalified list landlord, Tishman Speyer, was Management (Manhattan)/ A second shop opened on the Upper of firms to implement green represented in-house by Greg Conen. Substanially all of the East Side. The original location is infrastructure improvements at The asking rent was not disclosed. investments of AP also on the Upper East Side, at 359 Edenwald Houses in the Bronx, as part Alternative Assets E. 68th St. of the New York City Construction ● Bueno of California signed a seven- Apollo Global $500.0 Berkshire Hathaway Inc. SB M&A Mentorship Program. To make inquiries year lease extension at 66 Fifth Ave. The Management (Manhattan), ● Evolution 2.0 or obtain bid documents, contact handbag maker occupies 2,900 square Kohlberg Kravis Roberts 420 Lexington Ave., Manhattan Glorivee Roman at (718) 595-3226 or feet. Bueno of California and the & Co. (Manhattan), W Verizon Wireless opened the first [email protected]. landlord, Joseph P.Day Realty, were Capital Partners (Manhattan), Par-Four Investment location for its new technology store in represented by Rick Brickell of NYAE. Management, Crescent Grand Central Terminal. There are GOODS AND SERVICES The asking rent was $45 per square foot. Capital Group/Oriental more than 123 Verizon Wireless retail ● Administration for Children’s Services Trading Co. ● locations in the metro area. Requests proposals by 2 p.m. on Dec. 7 Renoir Fashion signed a three-year Dolphin Advisors $121.2 Curtiss-Wright Controls Inc. SB M&A for intensive family preventive services. lease for 1,500 square feet at 214 W. 39th (Manhattan), Dolphin ● Roberta Roller Rabbit To make inquiries or to obtain bid St. The menswear company will occupy Management Inc. 176 Duane St., Manhattan documents , contact Rafael Asusta at space on the 10th floor. The tenant was (Manhattan), Lane Five The shop featuring Roberta Freymann (212) 341-3511 or rafael.asusta@ represented by Lily Lin of A.C. Capital Management, designs opened in TriBeCa. A acs.nyc.gov. Lawrence Real Estate, and the landlord Taglich Private Equity (Manhattan), Nicusa second shop is located on the Upper was represented by Ernie Vallorano of ● Investment Advisors/ East Side. Department of Education Granite Management. The asking rent Williams Controls Inc. Seeks competitive sealed bids by was $35 per square foot. Not disclosed/ $98.5 Polygon Credit Management SB M&A 4 p.m. on Dec. 6 for security devices Polygon Management (Manhattan) BANKRUPTCIES and installation for computer hardware ● Nourish Kitchen + Table signed a and audiovisual equipment. To lease for 1,000 square feet at 95 Prudential Financial $77.5 Cardinal Group Investments, SB M&A Inc./Prudential Financial Fundamental Advisors (Manhattan) The following listings are selected from the obtain bid documents, email Greenwich Ave. The restaurant, with Inc. RiverPlace Square most recent available filings by companies [email protected] counter takeout service and in-store apartment complex seeking bankruptcy protection in the or call (718) 935-3000. To dining, will occupy space on the ground The Argentum Group $77.1 II-VI Inc. SB M&A Southern and Eastern Districts of New make inquiries, please email level. The tenant was represented by (Manhattan), First York. Information was obtained from U.S. [email protected] bid Redwood Property Group, and the Analysis Corp., Emigrant Bankruptcy Court records available on opening date is Dec. 7 at 11 a.m. landlord, Marolda Properties, was Capital Corp. (Manhattan)/ Public Access to Court Electronic Records. represented by Joseph Aquino and Faith M Cubed Technologies Inc. Listings are in alphabetical order. ● Office of the Bronx County District Hope Consolo of Prudential Douglas Vornado Realty Trust $60.0 Pennsylvania Real Estate SB M&A Attorney Elliman’s Retail Group. (Manhattan)/Building on Investment Trust ● Grand Central Zocalo Seeks competitive sealed bids by 5 p.m. Market Street, Philadelphia 174 E. 82nd St., Manhattan on Dec. 7 for a turnkey installation of all Not disclosed/ $50.0 Olympus Capital Holdings Asia GCI Filed for Chapter 11 bankruptcy network devices, computer hardware, STOCK TRANSACTIONS Huaxia Dairy Farm Ltd. (Manhattan), California Technology protection on Oct. 25. The filing cites storage, software installation and Ventures, Grand River Capital estimated liabilities of $500,001 to $1 customization (or development), system Following are recent insider transactions at Management million and estimated assets of $50,001 integration, ongoing support, system New York’s largest publicly held companies Selected deals announced for the week ended Nov. 3 involving companies in metro New York. to $100,000. The creditors with the administration training and a fail-over- filed with the Securities and Exchange GCI: Growth capital investment represents new money invested in a company for a minority largest unsecured claims are Chase, disaster recovery plan. To make inquiries Commission by executives and major stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing shares of a company without the participation of a financial buyer. source: capitaliq owed $51,883.79; Rosenberg Feldman or obtain bid documents, contact shareholders. Listings are in order of Smith, owed $50,000; and Endicott Raymond Vazquez at (718) 590-2038 or transaction value.The information was Meats, owed $25,000. [email protected]. obtained from Thomson Reuters.

24 | Crain’s New York Business | November 26, 2012 20121126-NEWS--0025-NAT-CCI-CN_-- 11/21/2012 5:53 PM Page 1

how crazy it got:The Baltic Dry In- sent our industry, it would be the Port Authority executive director, dex, a widely followed measure of lemming,” said Peter Shaerf, CEO said the bankruptcies and restruc- The shipping news shipping rates, soared to 11,800 in of shipping investment bank AMA turings would cause job losses at the the spring of 2008 from less than Capital Partners and a board mem- port only if the number of ships Continued from Page 1 gathering. “You’ll see every restruc- 1,000 in 2002. In other words, dur- ber of General Maritime and two coming to dock declined. That is fending off bankers and creditors. turing adviser in New York there.” ing a six-year stretch, the shipping other shipping companies. unlikely to happen because cash- “This is the worst bust since the The industry that insiders jok- index soared twice as much as Nas- When the global economy strapped owners need to keep their Phoenicians came out of the Lev- ingly call “the world’s second-oldest daq during the tech-stock bubble tanked in 2008, the Baltic Dry In- ships sailing,just as airlines in bank- ant,” said Roger King, a shipping profession” for its enduring vitality that ended in 2000. dex shattered, dropping 94% before ruptcy continue to fly planes. analyst at CreditSights, an inde- and importance to global commerce “Shipping is like the global econ- the year was out. Booms and busts “From the Port’s perspective, it pendent debt research firm. is having a tough time coming to omy on crack,” a Norwegian ship- are endemic to shipping, but this doesn’t matter who owns the ship so Vulture investors are hoping to terms with its financial straits.After ping analyst, Erik Helberg, told the crash was unique in that it spared long as the ships still come in,” Mr. feast on the wreckage, setting the all, 60% of the world’s total $15 tril- crowd at the Plaza Hotel. virtually no one. Ward said. stage for a transfer of power in an in- lion in trade is transported by sea, As demand soared, yards around Not only are vessels arriving in dustry that for generations has been according to the World Economic Consolidation begins port, the global fleet continues to the domain of family dynasties and Forum. Ports across the nation are “In the past,cycles were different grow as ships ordered in better times risk-ravenous entrepreneurs. spending billions so they can receive ‘Shipping is for different kinds of ships,”said Urs come into use. Overseas Shiphold- The clash between the sumptu- larger tankers and handle traffic af- Dür, research director at Clarkson ing estimated in its filing that the ous old world and shipping’s stark ter a Panama Canal expansion proj- like the global Capital Markets. “But last decade, global tanker fleet will swell by an- new reality was on display in mid- ect is completed in 2015. The Port everything went up in lockstep and other 15%. In addition, thousands November at the Plaza Hotel,where Authority of New York and New economy collapsed at the same time, which of older ships have been mothballed a crowd of about 300 shipowners and Jersey plans to spend $1 billion to makes this bust unprecedented in but could be returned to service if private-equity investors gathered to raise the Bayonne Bridge roadway on crack’ scope.” rates somehow improve. That, of discuss the miserable state of the by 64 feet so it can accommodate the After years of futilely hoping for course, would only serve to depress business. In a ballroom decorated next generation of ships. recovery and staving off creditors, rates yet again. with faux Italian-Renaissance fres- shipowners are throwing in the tow- This helps explain why so many coes and chandeliers reminiscent of Like a lemming el. A few have trudged off to bank- shipowners are gloomy about their those in the Palace of Versailles, the Despite those tailwinds, analysts the world went wild building new ruptcy court, while an estimated individual businesses: The consoli- audience got some candid advice on say it could take the industry 25 cargo ships.The globe’s tanker fleet 90% of the 300 publicly traded ship- dation has only begun. Bottom- how to deal with bankruptcy from years to recover from all the bank- jumped in the past decade by more ping companies have discussed re- feeders like private-equity giants Jeffrey Pribor, a prominent New ruptcy proceedings and restructur- than 50%, according to Overseas structuring with their creditors, ac- Blackstone Group have started ac- York shipping executive. ings. What caused such a mess? Shipholding’s bankruptcy docu- cording to Marine Money. AMA quiring ships.So has Wilbur Ross,a Mr. Pribor is the chief financial There are three basic reasons: Asia, ments. Wall Street played a pivotal Capital’s Mr. Shaerf said distress distressed-asset expert who made a officer of General Maritime Corp., a commodity prices and Wall Street. role in stoking the fire by raising $1 rates are similar for the 1,500 pri- fortune by consolidating the de- Park Avenue-headquartered oil It’s no secret that the last decade’s trillion in debt and equity for ship- vately owned companies. pressed steel and coal industries. shipper that earned $900 million in economic boom in China, India, ping companies in the last decade, Still, the shipping industry’s tur- “We’re not at the bottom yet; profits during the last decade’s boom. Russia and other emerging markets according to trade publication Ma- moil isn’t expected to translate into there’s another six to 12 months to Last year, it sank into Chapter 11. generated a surge in demand that rine Money. New stock sales alone broader economic problems for go,” Mr. Ross told Crain’s. “There His top tip: To prevent customers or drove up prices for oil, iron and were 100 times greater than the New York. Fewer than 200 Over- are 50,000 vessels and probably competitors from getting wind of grain. Less well known is that this previous decade’s tally. The mania seas Shipholding employees 10,000 owners, so there is a lot to be your plans, talk about bankruptcy surge also drove shipping prices— didn’t get the attention of real estate worked locally, tiny compared with shaken out.” Ⅲ with great discretion. and profits—to the stratosphere, or other bubbles of yesteryear, but it the 171,000 jobs supported by the “Don’t do it at the Four Seasons because demand exceeded the ca- was historic in its own way. New York and New Jersey port in- LISTEN to a discussion at bar,” Mr. Pribor told owners in the pacity of the world’s fleet. Here’s “If we had a mammal to repre- dustry. Christopher Ward, a former CrainsNewYork.com/podcasts

to pay much. Dealing with FEMA From regs to riches Mission unmoored reps has been a baffling experience, he said. For example, the agency would replace some of the mission’s Continued from Page 6 then you abandon one of the repre- Continued from Page 3 Coney Island in 2002 after seeing a freezers but not the refrigerators. legal and ethical conflicts. Candi- sentations,” said Mr. Genova, 59, a government programs focus on in- community in need of help. He “You need an M.B.A. in insurance dates often simply raise big dollars leading New Jersey election lawyer. dividuals and small businesses grap- opened the mission two years later. to figure it out,” he said. as “undeclared” candidates eyeing But, as Mr. Laufer himself ac- pling with Sandy’s lingering effects. Funding was never easy, but during He’s also waiting for visits from his the mayoralty,casting themselves as knowledges, having multiple clients “Some of the small nonprofits will the boom years it wasn’t as big a local elected officials, who, he said, more important to potential donors competing against one another at just die,” said Sheena Wright, the re- struggle. The mission received haven’t bothered to offer help,though than they end up being. They then any point can create ethical mine- cently appointed president and chief grants from Lehman Brothers and he hasn’t called them. “I shouldn’t run for lesser offices, which allevi- fields. executive of United Way of New Citibank. Those grants are gone, have to chase them,” he said. “They ates Mr. Laufer’s potential conflict. One attorney said it is difficult to York City, which is trying to ensure and the mission’s paid staff has know what is going on here.” “People come to me and say,‘We see how such a balancing act could be that Coney Island Lighthouse Mis- dwindled to one today from four in City Councilman Domenic know your reputation in New York pulled off,given that candidates jock- sion doesn’t meet such a fate. 2008, while the budget was slashed Recchia, who represents the neigh- City; we want to hire you, we want ey with one another for years before Many food pantries and soup 39%, to the current $293,000. The borhood, said every time he walks to keep you,we want to prevent oth- the election.“Compliance work is not kitchens in the city are already work is largely done by volunteers. by, the mission is closed. “We’ve er people from hiring you,’”said Mr. just technical bookkeeping,” the struggling. Even before the storm, been telling everyone who needs Laufer, sitting in a downtown con- lawyer said.“It includes a whole range hunger-relief organizations city- Meetings in the living room help to call us,” he said, adding that ference room at Genova Burns Gi- of strategic decisions and confidential wide faced a 5% spike in demand,on Most of the budget comes in the his office has donated $9,000 to the antomasi & Webster, where he is a information about a campaign.” top of a 12% increase in 2011, ac- form of food grants from federal, mission over the past two years. partner. “Well, that’s a lot to ask at Mr.Laufer,whose firm has pulled cording to the New York City state and city governments.There is Brooklyn Borough President the early part of the election cycle.” in $1.8 million from New York cam- Coalition Against Hunger. Yet also rental income from four apart- Marty Markowitz, state Sen. Diane paigns since 2005, most of it since more than two-thirds of the groups ments above the mission and money Savino and Assemblyman Alec The ‘Laufer primary’ 2009, countered that his practice is reported a decrease in government collected from people attending Brook-Krasny either did not return Sometimes, situations don’t focused on helping clients comply funding, and more than half report- weekly services. calls or didn’t comment. work out quite as cleanly as Mr. with the law. “If your lawyer was en- ed decreases in private support dur- The congregation has been A young volunteer is getting Stringer’s. That calls for what some gaged in something like fundraising, ing the same period. After the meeting in a member’s living room ready to start an Internet fundrais- New York politicos have dubbed the you’d have the most expensive storm,more than 60% of such agen- since the storm, but Mr. Fusco said ing campaign for the mission. But “Laufer primary”—a race between fundraiser in the world,” he said. cies faced increased demand, the there’s no way the members can the mission’s best hope for survival candidates in the final months be- coalition said. fund the reconstruction. There are at this point is the United Way.Ms. fore campaign season officially Stretching the limits Joel Berg, executive director of only about 40 people in the congre- Wright said she is figuring out how kicks off to see who ultimately gets But his effort for Mr. McDonald the coalition, said that areas like gation, and many are on welfare. much her organization can give the to retain Mr. Laufer’s services. At goes beyond simple compliance. Coney Island are especially vulner- Mr. Fusco said the church’s pri- mission while also reaching out to that point, which is rapidly ap- Mr.Laufer will argue that state elec- able because they don’t have a large vate insurance company has already others like the Robin Hood Foun- proaching in 2013, the firm can tion law—which has a $41,000 do- number of established social service turned down his request for assis- dation to get more grants. She is drop clients who end up in direct nation limit for general elections— agencies. Coney Island was a long- tance because his policy didn’t cover also working to understand a new competition with another. (Such a supersedes the city limit of $4,950. time middle-class enclave that be- floods. “I’ve been paying premiums program FEMA started for non- scenario would occur if Messrs. de If he wins his case, it would radical- came poorer in recent years as de- to them for 30 years, and they found profits to see if it can aid the mis- Blasio and McDonald win their re- ly change the political landscape. mographics changed. “Losing the loopholes,” he said. sion. Her goal is to raise the money spective mayoral primaries.) “I don’t like the word ‘aggres- mission would be devastating to the The church does have a flood by January. “I want to know what “When the point comes in the sive,’ ” Mr. Laufer said, describing community,” Mr. Berg said. policy through the Federal Emer- will happen soon,” said Mr. Fusco. New York [election] model where his style.“I’m a zealous advocate on Mr. Fusco moved his church gency Management Agency. But “I’m 70, and my life isn’t supposed there becomes an actual legal conflict, behalf of my clients.” Ⅲ from Gravesend, Brooklyn, to Mr. Fusco doesn’t expect the policy to be this hard.” Ⅲ

November 26, 2012 | Crain’s New York Business | 25 20121126-NEWS--0026-NAT-CCI-CN_-- 11/21/2012 4:22 PM Page 1

IN THE BOROUGHS QUEENS

want to stand at the front door and FROM see the look on the kids’ faces when Above the flooded plain AROUND they walk in,” said Ms. Jones. “It’s a beautiful building.” Continued from Page 3 The residential THE CITY The building supplements the building run,” said Mr. McMillan. buildings and the 1930-era Davis Hall,which was one “All that stuff was brought up to school have also of the original buildings on the grade.” been designed CUNY plays Bronx campus. While the basement might be a without flood- its own tech card —cara eisenpress room of the past for new waterfront prone basements. construction, developers are also Even above Watch out Cornell, Columbia, seeking quick fixes for older towers ground, all electri- NYU, et al. When it comes to state- Ready-to-go that still store mechanical equip- cal equipment will of-the-art tech centers, the City Christmas trees ment underground. “We’re looking be built to be sub- University of New York will soon to create watertight rooms with sub- mersible, accord- have its own horse in that race. Ear- Busy Williamsburgers have long marine doors for those situations ing to Mr. Rem. ly next year, CUNY’s Lehman Col- had the ability to order up Christ- where you already have junk in the And the city lege in the Bronx will inaugurate mas dinner with all the trimmings. basement,” Mr. McMillan said, re- dug up the streets classes and open up research labs in Now they can do the same with one ferring to 2 Gold St., a TF Corner- on the site to install its brand-new $70-million, glass- of the other great labors of the holi- stone development in the financial separated sewers so and-steel science building in the day season—their tree. district where tenants have been that old pipes don’t borough’s Jerome Park section. Rose Red & Lavender, a four- displaced at least until March 2013 STANDING TALL: Despite being on the waterfront, this high-rise was overflow into the The idea behind the facility is to year-old plant-and-flower shop on because of flood-related damage. not flooded during Sandy. Having no basement helped. rivers when there’s make Lehman—and CUNY as a Metropolitan Avenue in the heart of Another saving grace for the res- a surge of seawater. whole—a serious contender for sci- Williamsburg, has been selling idents of EastCoast was that the “While it is still early in the con- Instead, one pipe handles sewage ence, technology and engineering Christmas trees to residents since buildings were protected from the struction process at Hunter’s Point and a separate system handles rain research money, especially in New the beginning. river by parkland rather than pave- South, it looks like the infrastruc- and seawater. York City,as Cornell moves forward This year, the store is kicking ment. “That porous surface also ture did pretty well, in part because Throughout the site, the city is with its plans for a campus on Roos- things up a notch,offering prelit,pre- helped keep the surge at bay,” Mr. it was designed to withstand this also testing out special curb grates evelt Island, and Columbia and decorated Frasier firs,prized for their McMillan said. kind of event,” said Daniel Docto- that filter water into the soil for NYU ramp up their own efforts. ability to hold their needles in even At Hunter’s Point South, the roff, chairman of Bloomberg LP, newly planted trees. And porous “It is a competition on some lev- the most overheated Brooklyn apart- narrative was much the same. The who as deputy mayor had champi- concrete has replaced regular city el,” said Liesl Jones, the chairperson ments. Ms. Sevilla said she is hoping 30-acre site,originally envisioned as oned waterfront development. “To sidewalks so that when water falls,it for the biology department at to capitalize on the long hours neigh- the athletes’ village for the 2012 me, that illustrates the key issue: It drains rather than floods. Lehman College,where about 1,000 borhood professionals work. Olympics (which went to London is about building codes and smart The wood decking on the park’s of the school’s 10,000 undergradu- “Those people tend to be really instead), is on track to be a mixed- infrastructure.” boardwalk was also bolted to con- ates major in science and tech fields. busy and just don’t have time to do use, middle-income housing devel- crete, rather than built on wood pil- Among other things,the school’s something like put the lights on the opment,with a school and large wa- Raising the land ings, so it cannot float away in a newest building, the Science Hall, tree and drag it home,”said Kimber- terfront park. The first phase of the The site withstood the storm for flood, and the park is being land- boasts a man-made wetland labora- ly Sevilla, the store’s owner. project, which will include 900 res- a few reasons. In 2010, the land was scaped with marshland wildlife that tory as well as state-of-the art labo- Rose Red & Lavender will spare idential units and about 20,000 raised by five feet to comply with serves as a natural storm barrier. ratories, dozens of new computers them all that for a mere $179 for a square feet of new retail space, is new building standards. “This was “The site’s ability to withstand and upgraded classrooms. The five-footer, already secured to a scheduled to open in 2014. done with a 100-year flood plain in major damage was certainly a posi- handsome lobby of the LEED- stand. A more substantial nine- or This Bloomberg legacy project is mind,” said Mike Rem, project di- tive development,” said EDC certified science building includes a 10-footer goes for $425. Ms. Sevil- seen as an example of how the city rector for the city’s Economic De- spokesman Patrick Muncie. “It will hanging 800-pound sculpture and la predicts that most of the trees can build out its 520 miles of water- velopment Corp.’s capital program. serve as an important guide for our inspirational quotes from the col- bought by residents will be about front in an era of storms and rising During the October storm, the en- projects going forward.” Ⅲ lege’s founder, Herbert Lehman, a seven feet, just the right size for a sea levels. If Superstorm Sandy was tire site was under about a foot of former New York governor and U.S. Williamsburg living room. Installa- the site’s final exam, planners say it water, as opposed to five feet even LISTEN to a discussion at senator. tion is included in the price. aced the test. farther inland. CrainsNewYork.com/podcasts “When the building opens, I —cara eisenpress

everyone. “I just don’t see why it MakerBot turns NYC into 3-D printing hub would make sense for the average consumer to have one,” said Terry Wohlers, president of Wohlers As- Continued from Page 3 nesses use Shapeways to make,mar- sometimes right in the maker’s part of South Carolina-based 3D sociates. that the Replicator 2 will reach a ket and sell their creations, which home. They also see it as the latest Systems—sold about 3,000 printers He sees more potential in Shape- wide market,he’s selling it retail—at range from jewelry to housewares to phase of the computer revolution in 2011, according to Wohlers As- ways, where consumers can order MakerBot’s spiffy new Mulberry games. that started with the Apple II. sociates. 3-D printed goods, and designers Street store, which celebrated its “When people get a MakerBot, Mr. Pettis declined to comment can get objects produced on higher- grand opening last week. this is new technology they haven’t on revenue. A spokeswoman said quality machines. had access to before—it’s like get- sales of the Replicator 2 have “total- But many consumers,even if not Locavore manufacturing ting a computer back in the late ly exceeded” expectations and that, quite average ones, have become With 150 employees—up from ’70s,” said Mr. Pettis, who is chief overall, there are more than 15,000 MakerBot devotees because the 40 a year ago—MakerBot will also executive and co-founder. “People MakerBot printers in use. machines have revolutionized how soon move marketing, engineering are finding out how amazing the fu- “The market will continue to they work. Broadway scenic de- and customer support teams into 1 ture is when you have a machine that grow as prices drop,” said Nima signer Kacie Hultgren bought a MetroTech Center in Brooklyn and can make the things you want.” Samadi, a senior analyst at Ibis Replicator last spring and uses it to will use its old Dean Street quarters Consumers—especially many World. “The market is still very far produce models for stage sets pret-

for assembling the printers. buck ennis architects and engineers—are in- from its potential.” ty much overnight. She has also es- The company’s expansion, creasingly discovering the joys of tablished her own online business, backed by a $10 million financing ‘I can print out printing objects and prototypes.Ac- A printer on every desk? Pretty Small Things,selling minia- round last year, comes as 3-D print- cording to consulting firm Wohlers Still, some analysts believe sales ture furniture to designers and ing promises a small-scale manufac- a chair in 15 Associates Inc., sales of personal of personal 3-D printers may not hobbyists. turing revival in New York. It’s the 3-D printers topped 23,000 units in reach much beyond the profession- “I can print out a chair in 15 min- kind of production that values cre- minutes,’ one 2011—about $26 million in rev- al crowd. They point out that the utes,” she said. ative and intellectual capital over enue—up from 6,000 in 2010. Sales Replicator 2 makes objects only out Small business owners who use low wages,and proximity to its mar- designer said revenue from industrial printers— of plastic, whereas industrial print- 3-D printing are also changing what ket, reducing shipping costs. used for making everything from ers—like those Shapeways uses— they make.“Three-D printing gives Shapeways.com, which operates dental fittings to aviation and auto- can work with a full range of mate- you so much freedom,” said Peter as a 3-D printing marketplace, is mobile components—approached rials, including glass, metals and Weijmarshausen, CEO and co- building out a factory space in Long $500 million. ceramics. founder of Shapeways.“They create Island City,Queens,that will enable MakerBot leads the personal And though MakerBot has sim- products that can’t be manufactured it to produce 3 million to 5 million Proponents of 3-D printing con- printer category. It sold about 5,000 plified both the mechanical opera- any other way.” Ⅲ objects a year on industrial print- sider it a locavore’s version of man- units in 2011,up from 2,000 the year tion and the software that goes into ers—roughly quadrupling the com- ufacturing—allowing anyone with a before. The next-biggest maker, downloading and printing designs, LISTEN to a discussion at pany’s previous capacity.Small busi- design to make their object locally, U.K. firm Bits From Bytes—now its machine may still not be for CrainsNewYork.com/podcasts

26 | Crain’s New York Business | November 26, 2012 Lead your employees to better health.

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CN015552.indd 1 11/15/12 5:46 PM 20121126-NEWS--0028-NAT-CCI-CN_-- 11/21/2012 5:37 PM Page 1

Tavern’s new operators talk Last air rights

Continued from Page 1 Continued from Page 1 tions, Central Synagogue, which Philadelphia, were described as same flexibility it is giving itself un- has 200,000 square feet of air rights, novices compared with New York der the plan: to sell air rights to any faces the longest odds. It stands at City-based rivals such as veteran and all qualifying sites in the wide East 55th Street and Lexington Av- caterer Great Performances. Some swath of midtown where the city enue, on the wrong side of the bor- newspaper articles suggested that aims to stoke development. der of the district to be rezoned. the pair won the 20-year lease Among other things, the houses “We acknowledge we’re just out- through connections—Mr. Caiola’s of worship argue that they could side of the boundary and have an sister is married to Mayor Michael sorely use the cash injection. extra hurdle,” said David Edelson, a Bloomberg’s former deputy mayor, “We have been given this respon- trustee at Central Synagogue. “But Kevin Sheekey,who is now a top ex- sibility to maintain historic struc- like the others,we serve the commu- ecutive with Bloomberg LP. Even tures, and yet as part of that we have nity and have the added costs of the city comptroller’s office indicat- not been allowed to realize the value being a landmark,and we would like ed it would give the contract special of those structures, and that puts us to participate if we can.” scrutiny because of the relationship. in a difficult position,”said Lawrence Messrs. Edelson, Graham and The attacks stung the partners, Graham, chief administrative officer Brown said the City Planning Com- who have not responded to their of St. Bart’s, the huge Episcopal mission,which is drafting the rezon- critics—until now. church on Park Avenue and East 51st ing plan,has politely listened to their “It feels like we are cleaning up a Street. “We should be part of the gripes but has thus far declined to TAVERN 2.0: Jim Caiola (left) and mess rather than starting over,” said David Salama plan a smaller—yet process going forward.” bend the rules in their favor. Mr. Caiola, referring not only to the still special—Tavern on the Green. Although the city’s plans are at charges of nepotism but also to their an early stage, indications are that it Delay tactics

extensive plans to reopen the Cen- buck ennis prefers to be the sole source of air With a bit of prodding, that may tral Park eatery in November 2013 rights that will be sold. The City change by the spring, when the re- after a four-year hiatus. though the partners’ company, cense for Tavern, Emerald is re- Planning Commission,in a study on zoning proposal enters its official Emerald Green Group, signed a la- quired to pay the city at least $38.7 the rezoning it released during the public review process.If the three re- Creative backgrounds bor peace agreement with Local 6, million in fees, though both parties summer, imagines the plan will spur ligious groups can gain the ear of key Mr. Caiola, 49, was a filmmaker which represented Tavern’s former believe the actual number will be replacement of antiquated office city officials, they could threaten to before entering the restaurant busi- employees, the two sides must agree closer to $51 million. Each year, the stock, much of it more than 70 years slow the passage of a plan whose au- ness in 1998. Mr. Salama, 48, stud- on a new contract. The peace agree- percentage that the restaurant pays old, in a midtown east neighbor- thors are sensitive to delays. Mayor ied fine arts in his 20s and then took ment simply allows the union to or- based on its gross receipts will in- hood it has defined as running from on the role of chef at their crêperie, ganize workers without interference. crease, from 6% in the first year to East 39th Street to East 57th Street, Beau Monde.The partners,a couple The partners are hopeful and at the 15.5% in the final year. from Fifth Avenue to as far east as ‘We have been who are raising two adopted chil- same time cautious about their nego- Second Avenue. dren,come to New York once a week tiations with the union. Back to basics To make the plan more popular given this to survey ongoing renovations and “We are fair people and under- The city, which briefly turned among the general public, the city is plan their work.They will move here stand the value of having a happy Tavern into a visitors center with proposing to plow the proceeds of responsibility to in the coming months. staff,”said Mr.Salama.Initial discus- gourmet-food trucks parked outside, its air-rights sales back into the “What we bring to the table is sions with the union were focused on is completing a $10 million renova- neighborhood with infrastructure maintain historic real positive, maybe naive, energy,” explaining that Tavern’s prior rev- tion of the exterior, stripping the upgrades. Mr. Caiola said. enue benchmarks have no bearing on building back to its 1870s bones and “Under the plan, the proceeds structures’ That naiveté could be an asset,or the new version of the restaurant, removing any vestiges of its glitzy re- from the sale of air rights would be a big disadvantage. In assuming which will be scaled down and will cent past to make it more accessible used for critically needed transit and control of Tavern on the Green, the have smaller private parties. to all New Yorkers. Emerald will be pedestrian circulation improve- partners are stepping onto a battle- The operators expect their rev- able to begin its work on the interior ments in the area, such as within the ground littered with casualties. enue to start at $17.5 million in 2014 by July 2013. Grand Central subway station,” a The legendary eatery—at one and reach $26 million by 2033. In The new operators want to re- spokeswoman from the City Plan- Michael Bloomberg would like the time the highest-grossing restaurant 2008, under the LeRoy contract, create some of the glamour for which ning Commission said. rezoning to become part of the lega- in the country—unraveled three Tavern generated $32 million. The Tavern was so famous, but they are The three houses of worship are cy of his long tenure at City Hall. years ago when it filed for bankrupt- restaurant report- learning that such a goal comes with effectively requesting a share in that That tight time frame could crumble cy protection under its former oper- edly earned as a hefty price tag. windfall by asking the city to help if the coming debate over the plan ators, the LeRoy family. It has re- NUMBER600 OF much as $38 mil- Emerald’s original proposal them unlock their own air rights. devolves into an argument. mained closed as a restaurant since DINERS the new lion at its peak. promised a $7.8 million investment “There are a lot of solutions,” Mr. In recent weeks, the three have January 2010 and was the subject of Tavern on the Once com- to redesign the interior and complete Graham suggested,“but one is to cre- been preaching their position far a bitter battle between the union that Green will seat pleted, the new landscaping work. That cost has ate another subdistrict for us … and wide to try to gain a place at the represented its 400 employees and Tavern will seat since increased by about $3 million, where we can more freely sell our air.” bargaining table. the city’s first choice to replace the 300 diners inside and another 300 Mr. Caiola said. The central ideas of “They make a good argument, LeRoy family, Dean Poll, who runs outside, compared with the earlier their plan include installing green 50 years without an offer and it’s something that I am open to the Central Park Boathouse restau- 850 seating capacity. Emerald esti- walls of living plants throughout the For decades, Mr. Graham’s considering,”said Dan Garodnick,a rant. Mr. Poll, who failed to reach a mates that about 120 employees will restaurant and expanding the church and the other two religious city councilman whose district in- deal with the union,not only lost the work at the restaurant, or less than a kitchen so that diners can see their landmarks have been hemmed in by cludes portions of the area to be re- Tavern contract,but also lost anoth- third of the old Tavern’s peak. food being prepared. The partners regulations that limit the sale of air zoned and whose approval is neces- er battle with Local 6, which union- Tavern will be able to book par- have hired New York chef Katy rights solely to neighboring proper- sary for the plan to pass. “Beyond ized the Boathouse. ties for up to 175 guests. Anything Sparks to helm the kitchen. ties or, with a special permit, to that, I can’t say. It’s early.” The last thing Tavern needs now larger would require special permis- The pair will illuminate the buildings across the street. The One powerful group already on is more drama. Mr. Salama couldn’t sion from the city.Closing the entire building by installing lights on the problem is that the neighbors of all board with the arguments made by agree more, addressing the accusa- restaurant for an event would re- ground, as well as on poles and three houses of worship are, for one the religious institutions is the real tions of impropriety.“It was obvious quire two weeks’ notice. The south lampposts, because the Parks reason or another, unable to use ad- estate community. It is the city’s de- [talking to Mr. Sheekey about the wing, at West 66th Street, slated for Department will no longer allow ditional air rights. velopers who will buy the air rights Tavern on the Green request for a takeout window and an outdoor lights on the trees. “It’ll still have “St. Patrick’s Cathedral is sur- and build the new skyscrapers. For proposals] would be a conflict of in- terrace, will be used for parties. that magical, I’m-approaching- rounded by both tall buildings and those developers, the prospect of terest,” he said, maintaining that he “The two Taverns are so differ- something feeling,”Mr.Caiola said. landmarked sites like Villard Hous- adding 2 million square feet of sup- and Mr. Caiola never discussed the ent, and it took the union a minute Some decorating decisions have es, Saks and Rockefeller Center, ply to the market holds the tantaliz- subject with Mr. Sheekey. to realize what we were saying,” said been made for the partners.The city which cannot be developed any fur- ing promise of pushing down the While the new operators still Mr. Caiola. The two sides have is installing a cube-shaped glass ther,” said David Brown, an execu- price of what the city will have to sell. have to prove their chops in the agreed that Emerald is not obligat- structure—which resembles the one tive at the Archdiocese of New York, “The air rights should be subject court of public opinion, at least one ed to rehire Tavern’s former workers. at the Apple Store—where the which owns St. Patrick’s, the cathe- to greater flexibility,” said Gregg hurdle has been eliminated: In Oc- According to labor sources, Lo- Crystal Room had once stood. It dral that occupies the entire city Schenker,an executive of ABS Part- tober, City Comptroller John Liu cal 6 will likely present a contract will be part of the main dining room. block facing Fifth Avenue from ners, which is considering building signed off on their contract, making that is similar to the one used by the “It’s a design challenge for us,” East 50th to East 51st streets. in the upzoned district. “As a devel- them the official concessionaire of Boathouse, which offers employees said Mr. Salama, who is not keen He reports that in the past 50 oper, we want as many sources as Tavern on the Green. family health care benefits and a about the structure. Still, he added, years, the cathedral has not received possible selling them to create com- The rocky start is just the begin- 401(k) plan, with no employer “So much has already been given to a single serious offer for its roughly petitive pricing pressures.” Ⅲ ning of many challenges to come for match. Tavern on the Green had a us, this great history and expecta- 1.2 million square feet of air.“We’ve the Philadelphians, including nego- tion.It is a lot of pressure,but I think effectively been landlocked,”he said. LISTEN to a discussion at pension plan. CrainsNewYork.com/podcasts tiating their first labor contract. Al- Over the course of the 20-year li- it’s a great opportunity for us.” Ⅲ Of the three religious institu-

28 | Crain’s New York Business | November 26, 2012 20121126-NEWS--0029-NAT-CCI-CN_-- 11/21/2012 4:23 PM Page 1

HELLUVA TOWN INSIDE Source Lunch More Hope for NYC films to be made in female foodies Brooklyn PAGE 30 The coveted James Beard Award Out and About offers just one indication of how few women succeed in the Winter’s Eve at Lincoln restaurant industry. In the prize’s Square PAGE 31 more than 23-year history, only 13% of executive chef winners have been female. For restaurateurs, that figure is 0%. To help aspiring women break through, Rohini Dey (below), owner of celebrated Vermilion restaurants in Chicago and New York and a former McKinsey & Co. consultant, has teamed up with the James Beard Foundation for the first-ever Women in Culinary Leadership Cookoff. Finalists will showcase their work at Vermilion in New York, where two winners will each earn a yearlong internship. They will also spend a week working at the James Beard House and will get the chance to be mentored by one of a list of prominent chefs, including Food Network star Aarón Sanchez and award-winning pastry chef Emily Luchetti. Ms. Luchetti represents an area in which women have fared far better, making up 60% of the Beard winners. While fostering emerging female talent, Ms. Dey also seeks to rid aspiring chefs of any TV- induced misconceptions that a restaurant gig will quickly lead to a book deal and stardom. In reality, she said, being a chef is “grimy, steamy and hot. It’s a grueling industry.”

—ali elkin buck ennis Bauble-icious

Well-heeled consumers in the market for a more unique holiday shopping experience might JUST DESSERTS: consider visiting Fortuna Auction. Sugartooth Tours, co- The house was founded just last founded by Sarah year and is hosting its first fall Rolleston (pictured), auction on Nov. 29. More than 400 features a stop at pieces of fine jewelry, valued at Donna Bell’s Bake about $2 million, will be up for Shop. grabs. Items include designer (and Mick Jagger’s daughter) Jade buck ennis Jagger’s diamond and sapphire dagger (below), valued near $35,000. A ruby ring from Van Cleef & Arpels is expected to sell for more than $30,000.The auction will also feature pieces from jewelers David Webb, Tiffany & Co. Movable feasts and Cartier. All items will be one of a kind, according to Fortuna co- founder Seth Holehouse. Walking food tours offer city folk plenty of reasons “We do not accept items that are mass-produced or available at to gobble-gobble here and gobble-gobble there retail outlets,” he explained, adding that the past decade has seen an upswing in the popularity of antique jewelry, making some TIME & SPACE of the auction pieces not only BY ADRIANNE PASQUARELLI special as gifts, but also a more dependable investment than he turkey leftovers may be long gone, but the season of holiday eating has stocks and bonds. There’s also a charity element: only just begun. For those who’d prefer to leave the cooking to the experts, 2 hrs. Any seller can choose to donate 5% the growing number of food tours, from dessert-only excursions in Hell’s HOW LONG it takes to of the buyer’s premium (the complete a Sugartooth tour percentage of the final bid price) to Kitchen to food-truck visits in midtown, could be a fun alternative to pricey the charity of his or her choice. restaurants and catered affairs. In the past couple of years, dozens of new Some designers plan to donate a portion of proceeds to groups options have popped up, driven by increasing demand from hungry locals helping victims of and tourists alike. ¶ The following selection includes some of the most 2 mi. Superstorm popular ventures, many recommended by tourism agency NYC & Company. THE DISTANCE Sandy. covered by a Sugartooth tour —adrianne Most are recent additions to the market. A bonus: They are all walking tours, the better to burn off pasquarelli Tthose extra calories. (Note: Calorie counts are vendor estimates.) See EAT on Page 30 Source: Sugartooth Tours November 26, 2012 | Crain’s New York Business | 29 20121126-NEWS--0030-NAT-CCI-CN_-- 11/21/2012 12:18 PM Page 1

SOURCE LUNCH: Eat and run (OK, walk) DOUG STEINER by Amamda Fung Continued from Page 29 SUGARTOOTH TOURS www.sugartoothtours.com Runs: Saturdays and Sundays at 1 p.m. More NYC movies to Cost: $50 Calorie count: 700 Sarah Rolleston and Allyson Tol- be made in Brooklyn bert founded Sugartooth Tours in October as a way to make money on the side of their acting jobs and fill ver the next decade, How much time do you spend on your a hole in the market. Though the Doug Steiner plans to production-studio business versus real city offers plenty of cuisine- and more than double the estate? neighborhood-specific food tours, size of his movie and It totally depends on the day. Some they could not find an option spe- television production days it’s the studio and some days it

cializing in dessert—which both jeffrey tastes Ofacility at the Brooklyn Navy Yard. is real estate.The studio runs well on women find irresistible. ACT LOCALLY: The Tastes of the World Tour covers several Queens neighborhoods. When the roughly $400 million ex- a day-to-day basis. Real estate is a The Hell’s Kitchen-based pansion is completed, Steiner Stu- full-time job. sweets tour covers two miles over dios will span 50 acres. It will also be the course of two hours and in- that you have to physically be there TASTES OF THE WORLD TOUR home to Brooklyn College’s new How is the Steiner Studio expansion cludes tastings at New York insti- to come up with the answers,” said www.iwantmorefood.com/tours film school in two years. going? tutions like the Poseidon Greek Mr. Watson.“You can’t Google it.” Runs: Contact Jeff Orlick to schedule Mr. Steiner, who recently turned In March, we opened five sound- Bakery, on Ninth Avenue since Cost: $59 52,has also been expanding the fam- stages, and we are well underway 1923, as well as at newcomers like SOUL FOOD TOUR Calorie count: 800 to 1,200 ily’s portfolio of residential proper- with the next phase: a 235,000- Smush, which brands itself as the www.tasteharlem.com ties in Brooklyn. He built square-foot building gut New York deli of desserts and offers Runs: Fridays and Saturdays in By day,Jeff Orlick is in TV produc- two condo developments WHERE renovation at the Navy a panini-pressed sandwich of cook- December at 11 a.m. tion. By night, he is an expert in in Williamsburg, 58 Met- THEY Yard,right at our entrance, ies, fudge, marshmallow and pop- Cost: $55 the cuisine of the Woodside/ ropolitan Ave. and 80 DINED which will be additional corn crumble. In December, Ms. Calorie count: 500 to 900 Elmhurst/Jackson Heights area of Metropolitan Ave., and support space as well as Rolleston is adding a holiday treats Queens.The key to his tour is flex- has been on somewhat of a DINER space for the Brooklyn tour based around the Union Fried chicken and waffles, collard ibility—he always makes eight or buying spree. In the past 85 Broadway, College graduate film Brooklyn Square Holiday Market. greens and mac ’n’ cheese, oh my! 10 stops but varies the visits among six months, Mr. Steiner (718) 486-3077 school—the only public “We wanted to create a compa- This three-stop tour through different restaurants, many of has purchased two rental www.dinernyc.com film school in the country, ny that would be dedicated solely to Harlem often includes neighbor- which specialize in Tibetan and buildings with a total of if not the world. desserts,” said Ms. Rolleston.“And hood favorites like Amy Ruth’s, Nepalese or Bangladeshi and Pak- 104 units. Most recently, AMBIENCE: Casual dining in a there are some amazing hidden Jacob Soul Food Restaurant, istani food. Some tours even in- the New Jersey native ac- retrofitted 1920s Why are you expanding? spots in Hell’s Kitchen that are Dinosaur Bar-B-Que and Choco- clude pizza along with the more ex- quired the family busi- railroad dining car. To relieve pressure on overlooked.” otic rice flour doughnuts or purple ness’s first Manhattan Don’t expect to neighborhoods that are yam pastries. building: 181 Ave. A, for a get a menu—it getting filmed in too of- MUNCH AROUND “The area just sells itself as long reported $41 million. changes daily. ten. The film industry CHINATOWN as you know where to go,” said Mr. Mr. Steiner followed WHAT THEY ATE: prefers Hollywood-style www.watsonadventures.com Orlick, who started running the his father, David, into real Mixed greens with lots over streets. Lots pro- radishes and Runs: Jan. 1 at 1 p.m. tours last year.“We walk around and estate. The Steiner family creamy roasted vide security, power and Cost: $24.50 (participants pay it’s more of a conversation, not a owns several million garlic dressing the right acoustics. separately for tastings) stuffy lecture at all. I do it for fun.” square feet of retail and in- Ⅲ Grilled flatbread Calorie count: 1,100 dustrial space in the sub- with ricotta, What new shows are filming FOOD-CART TOUR, MIDTOWN urbs of New Jersey. Mr. roasted pears, at the studios now? Though 13-year-old events com- skilling shannon www.turnstiletours.com Steiner has instead set his caramelized The Following with Kevin HUNGER GAMES: Munch Around onions, radicchio pany Watson Adventures offers Chinatown includes a scavenger hunt. Runs: Fridays at 2 p.m. sights on residential real and balsamic Bacon, The Carrie Diaries various scavenger hunts in several Cost: $48 estate in the city. Next vinaigrette and the fourth season of U.S. cities, this is the only one here Calorie count: 600 to 1,500 year, the Stanford Univer- Ⅲ Grilled duck Boardwalk Empire. that involves food. Feast on Viet- lat Restaurant Lounge. Harlem sity alumnus will break hearts with sunny- namese bahn minh, fried resident Jacqueline Orange started Check out midtown at lunchtime ground on a 740-unit side eggs and Are you a television fanatic dumplings, beef jerky and cheese- the business about four years ago, during the week and find a food rental property called The radicchio/celery or movie buff? rook salad with cake while answering clues about after getting laid off from JPMor- cart on almost every block. This Hub, right across the Madeira I don’t watch a lot of TV Chinatown and Little Italy. The gan Chase,in order to showcase her tour visits at least six of them,rang- street from the Brooklyn vinaigrette and don’t get out to the 2.5-hour hunt includes 20 ques- neighborhood. She also offers a ing from Korean barbecue to falafel Academy of Music. Ⅲ Iced tea movies enough. tions along with a dozen possible general food tour for $95 that cov- and vegetables. Belgian waffles Ⅲ Pellegrino food visits,from which participants ers four to six stops,and can arrange from the Wafels and Dinges truck Why have you transitioned to sparkling water What happened with your choose six. a bus for both tours if there is or cupcakes from Cupcake Crew acquiring and building plans to help bring Carnegie TAB: $54.90, There can be as many as six peo- enough demand. Otherwise, walk- NYC round out the tastings,which rentals instead of condos? including tip Mellon University to the Navy ple per team, but book early—this ing groups range from two to 20. are overseen by Cindy Vanden- The condo market at the Yard? tour can attract up to 60 people,ac- Above all, though, she suggests Bosch. She started Turnstile Tours time seemed hot,but it causes a lot of We are still talking to the city to make cording to Watson founder Bret participants bring their appetites. last summer, after co-founding brain damage. I prefer to hold onto it happen. The school is unique and Watson, who started this hunt “Other places you just get a bite,” Urban Oyster walking tours four properties forever. Rentals can ride the best in software, hardware, arts three years ago. And no cheating she said. “Here it’s tastings, not full years ago. out downturns, whereas with a con- and sciences.Their animation studio allowed:“We write the questions so meals—but they’re plentiful.” All of Turnstile’s nine tours in- do, when you deliver them you have is the best in the world. We want to clude a nonprofit partnership— to sell them. bring that to New York City and cre- for example, 5% of ticket sales ate a digital media lab on the lot. from the food-cart tour go to the Are you still looking for more deals? Urban Justice Center’s Street Ven- I am looking at some stuff, but I am What don’t you like about your job? dor Project, which supports ven- very selective because I have a full I have the best job in the world, but dors’ rights. plate between the studio expansion, I am always stressed out. I don’t like The midtown event hosts up to a gut renovation property in Bush- to be disappointed by people who are 14 participants. Ms. VandenBosch wick,The Hub and the East Village. unethical. Ⅲ also offers a tour of financial district carts on Wednesdays. “Food carts are an important INSIDE TIP: part of the culture here and are icon- Diner owner Andrew Tarlow is ic in terms of New York City,” said also behind the hot Billyburg eateries

jennifer strader Ms. VandenBosch. “We want to VENDOR BENDER: Turnstile Tours hits up at least six midtown food carts and trucks. A portion raise awareness about what it’s like Marlow & Sons and Reynard. of the ticket proceeds go to the Urban Justice Center’s Street Vendor Project. to run one of these businesses.” Ⅲ

30 | Crain’s New York Business | November 26, 2012 20121126-NEWS--0031-NAT-CCI-CN_-- 11/21/2012 12:28 PM Page 1

OUT AND SNAPS Big bucks for American Museum of Natural History ABOUT by Emily Laermer and Miriam Kreinin Souccar

CULTURE FIX CAREER BUILDERS MONDAY, NOVEMBER 26, TUESDAY, NOVEMBER 27 TO THURSDAY, NOVEMBER 29 Entrepreneurs can join the New Come browse the FIFTH ANNUAL AMERICAN York Venture Community as it hosts ART FAIR, the only fair its NYVC SPEAKER SERIES: BRAD to focus on SVRLUGA, GENERAL PARTNER, HIGH American 19th- and PEAKS. This month’s topic is “I’d 20th-century works. Rather Get Rich Than Be Sexy.” Mr. The event features Svrluga will discuss why business-to- hundreds of business startups will dominate the landscapes, portraits market in the next five years. He has and sculptures from been a venture investor since the 17 specialists. It is from noon to 6 p.m. at the bubble days of the late 1990s.The Bohemian National Hall, 321 E. 73rd St., free event is at 7 p.m. at Projective ed lederman between First and Second avenues. The fair, Space L.E.S., 72 Allen St., at Grand mcmullan.com patrick (From left) JONATHAN MECHANIC, GLEN WEISS, MARY ANN TIGHE and which coincides with American Paintings Street. For more information, visit (From left) KAREN LEFRAK, ELLEN FUTTER, GILLIAN MINITER and DR. DAVID HIDALGO mingle at the 10th-anniversary gala for Joan’s Week, will also host two lectures—one by www.octoberspeakerseries.eventbrite RICHARD LEFRAK at the American Museum of Natural History gala Legacy: Uniting Against Lung Cancer on Nov. 14. The event raised $1.3 Elizabeth Kornhauser, curator of American .com. on Nov. 15. The evening raised $3.3 million for the museum. million for lung cancer research. paintings at the Metropolitan Museum of Art, and the other by the New-York THURSDAY, NOVEMBER 29, Historical Society’s curator of American art, TO SATURDAY, DECEMBER 1 Kimberly Orcutt. For more information, visit Initiatives in Art and Culture will www.theamericanartfair.com. host its 14th annual New York fashion conference, ONE OF A KIND: FRIDAY, NOVEMBER 30 INDIVIDUALITY, INTEGRITY AND Get a taste of Hawaii in the Big Apple. INNOVATION IN FASHION. Speakers Ukulele player JAKE SHIMABUKURO will mix include Stephen Sadove, chairman jazz, rock, classical and folk music in his and chief executive of Saks Fifth upcoming performance. Mr. Shimabukuro Avenue; designer Tracy Reese; and has been compared with the likes of Jimi Nicole Phelps, executive editor at Hendrix and Miles Davis. The show, part of Style.com.The conference is at the a 30-plus city tour, starts at 8 p.m. at the CUNY Graduate Center, 365 Fifth NYU Skirball Center, 566 LaGuardia Place, Ave., at East 35th Street.Tickets are at Washington Square South. Tickets start $350 for the general public and $100 at $34 and can be purchased by calling for students. For more information, (212) 352-3101 or visiting nyuskirball.org. visit www.artinitiatives.com.

DON’T MISS WINTER’S EVE MONDAY, NOVEMBER 26 patrick mcmullan.com patrick ed lederman To help kick off the holiday season, the Lincoln (From left) DAVID BOULEY, DANIEL HUMM, ALFRED PORTALE, MICHEL RICHARD, TOM MAYOR MICHAEL BLOOMBERG and PEGGY Square Business Improvement District will host COLICCHIO and SUSAN UNGARO at the James Beard Foundation Silver Anniversary Gala on DOWD seen chatting at the SLE Lupus its 13TH ANNUAL WINTER’S EVE, a night of live Nov. 16. The evening raised a record $400,000 for the culinary nonprofit. Foundation Life Without Lupus Gala on Nov. 19. music, outdoor food tasting from more than 30 local restaurants, and a tree lighting. Attendees are encouraged to donate to New York Cares’ coat drive. The free event is open to the public starting at 5 p.m. on Broadway between the Time Warner Center at Columbus Circle and West 68th Street. For more information, call (212) 581-7762 or visit www.winterseve.org.

OPENING FUNDRAISERS TUESDAY, NOVEMBER 27 MONDAY, NOVEMBER 26 Come see African artifacts at the The Best of Broadway & Cabaret will support Metropolitan Museum of Art’s the Actors’ Temple with its THIRD ANNUAL exhibition AFRICAN ART, NEW YORK CONCERT. Performers include Douglas J. Cohen, AND THE AVANTE-GARDE. It Jamie deRoy and Shana Farr.The Actors’ includes 40 wood Temple is a synagogue that embraces creativity. sculptures from The concert is at 6:45 p.m. at the temple, 339 W. West and Central 47th St..Tickets start at $125. For more Africa in addition information, email [email protected], call to photographs, (212) 362-3616 or visit www.theactorstemple.org. sculptures and paintings. It runs THURSDAY, NOVEMBER 29 through April 14 At First Book-Manhattan’s WINTER SOIREE, at 1000 Fifth Ave., at 82nd Street. guests will enjoy hors d’oeuvres, a two-hour The museum is open Tuesdays to open bar, a live DJ, and raffle and auction Thursdays from 9:30 a.m. to 5:30 prizes. Proceeds will go to the Harlem p.m., Fridays and Saturdays from Village Academies charter schools. First 9:30 a.m. to 9 p.m., and Sundays Book-Manhattan supports childhood literacy from 9:30 a.m. to 5:30 p.m. in the New York City area. The event begins Recommended admission is $25 at 7:30 p.m. at Midtown 1015, at 1015 Second for adults, $17 for seniors, $12 for Ave. Tickets are $50 online, $45 each for students and free for members and groups of five or more, or $60 at the door. children. For more information, For more information, visit visit www.metmuseum.org. www.firstbook.org/manhattan.

MARK YOUR CALENDAR… WEDNESDAY, FEBRUARY 27, TO SATURDAY, MARCH 2 The New York Philharmonic will stage a production of Rodgers and Hammerstein’s CAROUSEL. Based on Ferenc Molnár’s Liliom, the musical revolves around the tragic romance between a carousel barker, played by Nathan Gunn, and a mill worker, played by Kelli O’Hara. All showings will be at Avery Fisher Hall, 10 Lincoln Center Plaza. The debut is at 7:30 p.m. Tickets start at $65. For more information, call (212) 875-5656 or visit www.nyphil.org.

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