ASKED & ANSWERED Making the case that vaccination is the right choice PAGE 11 INNER CIRCLE Who’s who in ’ camp PAGE 14

CRAINSNEWYORK.COM | DOUBLE ISSUE | JULY 26-AUGUST 1, 2021

CONSTRUCTION INSIDE GAME Construction industry struggles to restart after pandemic lockdown and remote work, but of ce build-outs offer a rare bright spot

BY EDDIE SMALL

ew York’s hard hats are going to need to start using their inside voices. Interior o ce renovations are on the upswing, providing construction workers with an unexpected job boom coming out of the pandemic as work slows on major new residential and commercial projects. N“ ere’s a great deal of work there with people rethinking their o ces at all di erent levels, from consolidating it to reinventing the whole way that work is done,” Todd DeGarmo, CEO of Studios Architecture, said of the

current climate. four-day-a-week or split-sta ng Companies prepping for a return schedule, so we’re seeing a decent to the o ce are hiring construction amount of activity in that area right rms for jobs such as in- now.” stalling glass partitions in INSIDE  is type of construction between cubicles and in- Largest work started to increase creasing the amount of in- construction most notably in the past dependent space available rms Page 12 two or three months, Co- to each worker, said Lou letti said. It comes at a time Coletti, president of the when the overall outlook Building Trade Employers' Associa- for the industry is not especially tion. rosy as the city continues to emerge “A lot of companies are taking ex- from a pandemic that ground non- isting space and making adjust- essential construction to a halt ments–spacing people out more,” during the spring of 2020. he said. “Perhaps they won’t need In the rst quarter of this year, as much space for as many people

ISTOCK as they go to a three-day-a-week or See RESTART on page 26

POLITICS Political consultants cash in on election ‘gold mine’

BY BRIAN PASCUS AND into a multimillion-dollar bonanza. Of that, about $39 million went to sulting all collected more money Mayoral candidates AMANDA GLODOWSKI Mayoral candidates paid their mayoral candidates and $70 million from candidates this year than they shelled out $40 hired guns more than $40 million went to the comptroller, borough have in the previous two elections. ew York's political consul- during the primary season as the president and City Council races,  e amount of money political million to boost their tants cashed in like never city’s matching funds program said Matt Sollars, a spokesman for rms and their vendors received pro le during rst before during this year's pumped roughly $109 million into the city Campaign Finance Board. from citywide campaigns grew sig- Nelection cycle, turning ranked- Big Apple campaigns, a Crain’s New Local political consulting rms ni cantly compared to the most ranked-choice choice voting and the city's re- York Business review of public - such as Red Horse Strategies, the primary formed public nancing system nance data shows. Parkside Group and Dunton Con- See CAMPAIGNS on page 16 VOL. 37, NO. 27 © 2021 CRAIN COMMUNICATIONS INC. SPOTLIGHT Retirement SOHO FIRM bene ts HAS ITS DAY THANKS TO plan for SMART DOG nurses NEWSPAPER COLLARS peters out PAGE 27 PAGE 3

P001_CN_20210726.indd 1 7/23/21 2:50 PM FROM THE NEWSROOM | CORY SCHOUTEN | EDITOR-IN-CHIEF FINANCE Why you need Crain’s JPMorgan entices Dimon Business to stay put with $50M bonus and its business community are chugging through the fits and starts of a rein- BY AARON ELSTEIN the year to spend more Although JPMorgan cit- vention that will be felt for decades to come. time with his family. ed “a highly competitive Livelihoods, families and fortunes are at stake. wo weeks ago Jamie Dimon Dimon’s retention bo- landscape for executive Helping you understand and navigate how swatted aside a question nus comes in the form of leadership talent” when these changes will affect you, your business and whether JPMorgan Chase 1.5 million stock options. granting Dimon’s bonus, your city is the most important story we’re tack- might tackle rising expens- Terry Adamson, managing the CEO has repeatedly ling these days at Crain’s New York Business, Tes by compensating employees less. director at Technical said over the years that he

which I joined as editor-in-chief last month. “We’re going to be competitive in Compensation Advisers, BLOOMBERG plans to keep his job for a It’s an exciting time to work here, and to read comp no matter what it takes,” he estimated the grant is DIMON while. When asked by an our work, and I wanted to share a bit about how insisted. worth $50 million. Dimon analyst in 2019 when he BUCK ENNIS we’re aiming to serve you even better as most That goes for his compensation cannot exercise the options for five planned to step down, he an- A GREAT other local media outlets are cutting back, mak- too. The 65-year-old, who’s been years or sell the shares for 10 years. swered, “Five years—maybe four ing trustworthy and useful information harder CEO since 2006, was awarded an He was awarded $31.5 million in to- now.” CRAIN’S to come by. unusual retention bonus last Tues- tal compensation last year and con- He threatened to quit in 2013, That’s not the story here. We are investing in day to persuade him to stay on for trols 9.4 million JPMorgan shares, when the city comptroller’s office STORY our digital products and on-the-ground report- years to come, and that could boost worth $1.4 billion. led a crusade to strip him of his role COVERS ing to deliver more news and information that’s his pay by tens of millions of dollars. as bank chairman, but the move- useful in your career and life. We’re doing the “The special award reflects the Booming business ment felt well short of the investor POWER, homework, digging into the data and making the board’s desire for Mr. Dimon to con- With the stock market at record votes necessary. Dimon survived a MONEY AND phone calls to help explain how our city works tinue to lead the firm for a further highs and interest rates ultralow, 2014 throat cancer diagnosis, and and how our readers can get ahead. significant number of years,” a filing business in financial services has last year he required emergency PROPERTY We also want you to enjoy what you read in read. never been better, and pay is rising heart surgery. Crain’s—to learn something new, to meet and The grant would seem to end the accordingly. Under his leadership, JPMorgan connect with interesting and ambitious people. five-year parlor game of guessing At Goldman Sachs, compensa- has become banking’s most suc- How are we prioritizing our time? A great Crain’s story should reveal who might succeed Dimon. Two tion and benefits costs have risen cessful institution, with a market something new about the future of power, money and property in New leading contenders, consumer 47% this year. At Morgan Stanley, value of $450 billion—about as York City. That’s why we told you about key players in the inner circle of banking co-chiefs Marianne Lake they’re up 28%. BlackRock recently much as Bank of America and Citi- Eric Adams, our presumptive next mayor (on page 14), and followed the and Jennifer Piepszak, may have to granted all employees an 8% raise group put together. The stock has money (on page 1) to show how consultants cashed in on an election look elsewhere for the top job. Gor- effective Sept. 1. The average bonus outperformed its peers’ for many “gold mine.” We warned you about “hybrid hell”—the next return-to-of- don Smith, co-president and co- on Wall Street rose 10% last year, to years, and earlier this month JP- fice challenge—and profiled a hotel’s pandemic “babysitter.” We shared chief operating officer, has an- $184,000, the state comptroller’s of- Morgan reported $12 billion in which startup founders are moving to New York, and why a city with an nounced he will retire at the end of fice said. quarterly net income. ■ 11.4% unemployment rate has more than 300,000 unfilled jobs. And there’s much more to come. We are focused on delivering enter- prise journalism that makes Crain’s New York Business a must-read for TRANSPORTATION anyone who wants to make it in business here. We’ve boosted our pres- ence on social media so you can more easily join in the conversation, added summaries to our homepage and newsletters to give you more in- FAA approves LaGuardia AirTrain sights at a glance, started a real estate Deals of the Day feature to go deep- er on a subject all New Yorkers care about, and launched exciting new events that create a sense of community, such as our Excellence in Diver- as opponents consider lawsuit sity and Inclusion Awards. We’d love to hear from you as we continue to evolve our strategy. Please take our reader survey at CrainsNewYork.com/survey. I’m also happy to hear BY BRIAN PASCUS from you directly via email, at [email protected]. Thanks for reading. he Federal Aviation Adminis- tration last Tuesday approved the estimated $2.1 billion Air- NOMINATIONS TTrain project to connect LaGuardia Airport to Midtown via rail despite CRAIN’’S NEW YORK BUSINESS 2021 opposition from Rep. Alex- andria Ocasio-Cortez and some community groups. The proposed route from LaGuar- dia to Midtown connects the Delta Air Lines terminal to Willets Point, WOMEN IN ACCOUNTING & CONSULTING where passengers will be able to

hop on the 7 train and the Long Is- FLICKR TELL US ABOUT AN OUTSTANDING FEMALE LEADER IN THE FIELD land Rail Road to reach . OF ACCOUNTING AND CONSULTING Community groups are consider- Queens around Willets Point, Citi criticized the AirTrain proposal, Nominations are open for Crain’s 2021 Notable Women in Accounting and ing a lawsuit over the route of the Field, the United States Tennis As- saying it would exploit East Elm- Consulting. We are looking for female candidates in senior leadership roles at rail project, which infringes on sociation and that whole area there hurst neighborhoods while con- Flushing park and local neighbor- to all kinds of growth and develop- tributing no economic benefit to public accounting firms with more than 25 employees that serve middle-market hoods. ment.” the district. and enterprise clients with more than $25 million in revenue. Honorees will be But if the plan goes through it will Gov. , who had profiled in a special feature in the Sept. 20 issue of Crain’s New York Business. create 3,000 construction jobs and Lack of support been pushing the project, hailed generate $500 million in contract- The proposal faced more than the announcement. NOMINATIONS CLOSE JULY 30 ing opportunities for minority- and two years of opposition from some “The new LaGuardia Airport— Visit CrainsNewYork.com/women-accounting for more information and to submit a women-owned businesses togeth- community groups and local lead- the first new airport in the United nomination. er with permanent operation and ers, including Ocasio-Cortez, who States in over 25 years and the front manufacturing jobs for local resi- rallied against the project. The con- door to New York—deserves a reli- dents, according to projections by gresswoman had mocked the pro- able, efficient and affordable transit CORRECTION the Queens Chamber of Com- posal and said it would create a connector worthy of its destina- merce. greater reliance on taking cars be- tion,” the governor said in a state- ■ Dr. Yvette Calderon is the professor of emergency medicine at the Icahn School of Medicine “Today is a great day to be in cause of the direction of the Air- ment. at Mount Sinai and site chair of emergency medicine at Mount Sinai Beth Israel. Her title and Queens,” said Tom Grech, president Train’s proposed route into Queens. Cuomo called the federal go- workplace were cited incorrectly in her Champions of Change profile for Crain’s Excellence in of the chamber. “At the end of the Others in the community, such as ahead “a key moment” in rebuild- Diversity & Inclusion Awards, published June 21. day, it will open up that part of state Sen. Jessica Ramos of Queens, ing New York’s infrastructure. ■

Vol. 37, No. 27, July 26-August 1, 2021—Crain’s New York Business (ISSN 8756-789X) is published weekly,except for a combined issue on 1/4/21 and 1/11/21, 6/28/21 and 7/5/21, 7/12/21 and 7/19/21, 7/26/21 and 8/2/21, 8/9/21 and 8/16/21 and the last issue in December. Crain Communications Inc., 685 Third Ave., New York, NY 10017. Periodicals postage paid at New York, NY, and additional mailing offices. Postmaster: Send address changes to: Crain’s New York Business, Circulation Department, PO Box 433279, Palm Coast, FL 32143-9681. For subscriber service: call 877-824-9379; fax 313-446-6777. $3.00 a copy; $129.00 per year. (GST No. 13676-0444-RT) ©Entire contents copyright 2021 by Crain Communications Inc. All rights reserved.

2 | CRAIN’S NEW YORK BUSINESS | July 26, 2021

P002_CN_20210726.indd 2 7/23/21 2:41 PM HEALTH CARE BRIDGE TO NOWHERE A plan to ease nurses into early retirement back res as the program becomes inundated

BY MAYA KAUFMAN

y the time the pandemic arrived in New York City, Mila Jones already felt her decades-long nursing ca- reer in her back. She served as as- sistant nurse clinical coordinator in Mount Sinai Morningside hospital’s inten- Bsive care unit, which landed her front and center in the ght against Covid-19 as hospi- tal admissions swelled. Jones loved nursing, but the 13-hour shifts and avalanche of deaths were wearing her down. A new early-retirement proposal from Jones’ union, the New York State Nurses As- sociation, could not have come at a better time. Called Bridge to Medicare, the pro- gram promised full health care bene ts to certain veteran nurses and their dependents until the retirees aged into Medicare at age 65. It was the product of collective bargain- ing in 2019 between the union and the New York City Hospital Alliance, which commit- ted $4 million a year to cover early retirees at a total of four Mount Sinai and New York-Presbyterian hospitals. Jones was 60 and had racked up enough years of service to qualify for the bene t. She

JONES SAYS SHE MIGHT HAVE THOUGHT TWICE ABOUT RETIRING EARLY

submitted the necessary paperwork and re- tired Aug. 1 . About six months later, the early retirees started hearing from the union that there might be changes to the program, Jones said. A rumor surfaced on Facebook that it was being eliminated. Union o cials broke the news in a series of Zoom meetings:  e annual $4 million commitment was not enough to cover the nearly 350 nurses who had signed up. In- stead, union members approved a renegoti- ated deal that would cover up to $9,000 of the retirees’ premiums for the rest of the year but JONES was assistant not their dependents. What would happen nurse clinical after that was uncertain; it would be up to coordinator in Mount the fund’s trustees to determine reimburse- Sinai Morningside ment rates. hospital’s ICU. Nancy Kaleda, the union’s deputy director and a fund trustee, said the union did the best it could given the circumstances. BUCK ENNIS “We tried to do this with as much dignity and respect as possible for the members, ees within the Hospital Alliance, which in- success, she recalled. Kaleda said Bridge to Medicare never and we really tried to salvage something,” cludes New York-Presbyterian’s Columbia Linden Zakula, a spokesman for the Hos- guaranteed retirees coverage until they she said. University Medical Center, Mount Sinai pital Alliance, said it made clear during the turned 65—only until the money ran out. In a Zoom meeting with the retirees, Hospital, Mount Sinai West and Mount Sinai original negotiations that the money “would Nurses said that was not communicated. union o cials said they had expected about Morningside. likely not be enough” but declined to share 100 to 150 nurses to sign up for the program. Starting in 2019, the four-year e ort called its cost projections. Thinking twice (Union spokeswoman Kristi Barnes said it for the hospitals to provide $4 million a year Jones said it was not until this past March For Jones and her family, the renegotiated could not provide details on its projections for retirees and their dependents to stay on that the union reported a change of plans. program covers her share of the $3,000 due to sta turnover since the 2019 negotia- their union health plan. Nurses ages 60 to 65  e union presented its new deal .  ere monthly premiums but leaves her to shell tions.) who had worked at least 20 years at one of were no details on what would happen to out nearly $1,900 a month for her depen-  at was before the pandemic. Retire- the hospitals were eligible.  e agreement the retirees’ coverage in 2022; the union’s dents. She said the union should have alert- ments among the four hospitals ended up touted continued coverage until the em- next collective-bargaining agreement with ed nurses that the money could come up surging 200% between 2019 and 2020, from ployee became Medicare eligible. the Hospital Alliance does not start until short—or at least warned them about the 50 to 150, Barnes said.  is year’s number is But in the ne print was a stipulation that 2023. In the chat section of one of the Zoom surge of early retirees. If she had known already well more than double what it was in if the cost of coverage exceeded $4 million a calls about the new deal, dozens of retirees more, she said, she might have thought twice 2019. year, the early retirees could be responsible vented their frustration, a person on the about retiring when she did. She also wishes for their premiums. calls told Crain’s. Several asked if they could the union had instituted a cap on how many The ne print Kaleda said union o cials were noti ed come out of retirement. One person said nurses could enroll. Bridge to Medicare was a landmark deal last summer that there was a money issue. they wanted to sue for breach of contract. She hopes nurses who retire going forward for the New York State Nurses’ Association. In the fall they asked the Hospital Alliance if Union members approved the plan, but get a more optimal deal. It was the union’s rst health plan for retir- it could contribute more money, without the retirees were not eligible to vote. “ ey deserve better,” Jones said. ■

JULY 26, 2021 | CRAIN’S NEW YORK BUSINESS | 3

P003_CN_20210726.indd 3 7/23/21 2:57 PM WHO OWNS THE BLOCK 125 W 57TH ST DEVELOPER HOLDS FIRM ON SPLASHY OFFICE PROJECT FOR BILLIONAIRES ROW Team partnered with Calvary Baptist Church to do the deal

BY C. J. HUGHES

ffices might be empty, and 157 W. 57TH ST. rents may be down, but a developer is plowing ahead A crystalline condominium atop a Hyatt hotel created by Ex- with a splashy new Manhat- tell Development, with backing by a United Arab Emirates sov- ereign wealth fund, this is one of the city’s most talked-about Otan office building, betting that the city 150 W. 57TH ST. will resemble its old self by the proj- towers of the past decade, for better or worse. Its arrival—the ect’s 2024 completion. ground-breaking was in 2009, and it opened in 2013—herald- The restaurant, a tourist attrac- Located on Billionaires Row at 125 ed a pivot from office district to the Billionaires Row residential tion that seems to have survived the pandemic, has W. 57th St., the 26-story tower is from enclave. An early sale of a six-bedroom penthouse there to com- anchored this location since the 1920s. In 2004 its the team of Alchemy-ABR Investment puter mogul Michael Dell for more than $100 million set a price 6-story prewar building, which extends to West 56th Partners and Cain International, record in New York that stood for years. But the 73-story building Street, was bought for $19 million by RTR Funding, which completed the purchase of the has attracted criticism for its height, as it casts large shadows on whose chief executive, Gerald Lieblich, owns prop- site last month for $130 million, re- . A decade after sales started, the 92-unit tower still erties in Manhattan and the Bronx. But owners of cords show. The deal has been in con- has not sold all its sponsor apartments. One four-bedroom resale the lavishly decorated restaurant, which offers after- tract since February 2019, meaning the at the building, which offers abated property taxes through 2023, noon tea, have not always been keen to sell. Mack- tower was conceived in a much differ- is listed at $44 million, down from about $59 million in 2019. lowe Properties tried to grab the building’s air rights ent New York. in the 1980s for its condominium tower at 146 W. “Did we ever think about walking? 57th, to no avail, according to . We certainly assessed the situation,” A similar entreaty by developer Rockrose, for its of- said Eric Poretsky, a senior managing fice building at 152 W. 57th, also was rebuffed. The director with Cain. “But we believed in 171 W. 57TH ST. restaurant’s owners at the time said they wanted to the product. And it’s in an exceptional This brick-and-limestone prewar rental building, the reserve the right to put up an 18-story structure. location.” Briarcliffe, went condo after being purchased by devel- For a prime site near Central Park, oper Property Markets Group, which bought the 13-sto- Cain and its partners employed a strat- ry, 33-unit property for $32.5 million in 1998. Through egy that has enabled others to score the years, units have been sold as they have emptied sites amid high land costs. The devel- out. In 2009 James Development, a firm that specializ- opers partnered with a religious orga- nization, in this case Calvary Baptist es in unsold co-ops, snapped up 11 apartments at the Church, which has been at the site building for $9 million, records show. (The following since 1883 and in the current building year, Extell bought air rights from Property Markets for since 1931. Cain, which is chipping in its next-door neighbor condominium, 157 W. 57th.) In 125 W. 57TH ST. May, James sold one of its apartments—No. 10C, which most of the equity for the $330 million Calvary Baptist Church, whose Gothic-style front doors are has a fireplace—for $2.7 million, down slightly from project, has promised to construct a topped by the words “We preach Christ/crucified, risen and the $2.9 million it sought in the fall. Property Markets, new church facility for Calvary, which coming again,” developed this red-brick building in 1931 and meanwhile, went on to help develop Steinway Hall at will occupy a commercial condo in the has occupied it since, though not all of its 16 stories are for 111 W. 57th St., a 60-unit spire now in sales mode. new building’s bottom six floors. The worship. Atop the nave is the closed Salisbury Hotel, a bare- offices—the majority of which will bones offering in an increasingly opulent neighborhood that have unhindered park views—will be shuttered last year. By 2024, a development team that in- on floors 10 through 26. Tenants will cludes Cain International plans to replace the prewar build- be able to lounge on a 4,000-square- 152 W. 57TH ST. ing with a 26-story office tower that has 10,000-square-foot foot, West –facing terrace floors, as well as a new auditorium that the church will own. The on the seventh floor. This 60-story office building, Tower, which offers church floors also will contain a gym, classrooms and a chapel, This stretch of Midtown has had its a golf simulator among its amenities, was developed in 1991 the developer said. Although No. 125 is Cain’s first office de- top office addresses, including the by the Elghanayan family and is now owned by TF Corner- velopment in New York, the company is an investor in the Aman General Motors Building at 767 Fifth stone, one of the family’s affiliates. Current vacancies at the Hotel and Residences—a redevelopment of the Crown Building Ave., the at 9 W. 57th building include the 28th and 29th floors. No. 152 has be- at nearby 730 Fifth Ave.—that’s scheduled to open this year. St. and at 152 W. come sort of a power address for real-estate companies, with 57th St. But Midtown has failed to keep ABC Management, Greystone Development and the Naftali pace with new projects—which al- Group as tenants. More than a century ago, the Midtown en- lowed the development of office spires clave was a Manhattan arts district. Standing on the site was in the Hudson Yards neighborhood to the Rembrandt, a 6-story apartment building from 1881 con- steal some of Midtown’s thunder, sidered the city’s first residential cooperative. But the build- Poretsky said. ing’s fortunes declined in the mid-20th century, and the city “There was just no new product,” he eventually took possession before demolishing it in the 1960s said, adding small financial firms, and replacing it with a parking lot for next-door Carnegie Hall. tech-finance companies and family of- 120 W. 57TH ST. fices likely will be his tenants. An empty lot owned by the Jewish Board of Family New York, though, might have to and Children’s Services, an aid group, sold in 2009 burn off excess inventory first. Man- for $60 million to limited-liability company Ricland, hattan’s office availability rate jumped 146 W. 57TH ST. which appears to still have an ownership stake in the to more than 18% in the second quar- property, though much has changed. The 29-story, ter, up from 12% a year ago, according The Metropolitan Towers Condominium, a black-glass high-rise from casement window–lined building there, developed to real estate firm Savills. And asking Macklowe Properties with 240 apartments across 78 stories that by ARK Partners in 2013, was initially home to a rents for prime space dipped to $86 came online in 1986, in some ways presaged the block’s transition per square foot annually, down to to a hub for high-net-worth condo buyers. Amenities include a pool, 240-room outpost of the Viceroy hotel chain. But about 2018 levels, the firm said, even maid service and an exclusive dining room on the 30th floor that of- six years after it opened, the Viceroy closed and as the amount of space leased—nearly fers free breakfast. Buyers in the building may finance 90% of the was replaced by a Le Meridien hotel. Along the way, 5 million square feet—was up more cost, and investors seem numerous, based on the number of rentals, the New York Recovery real estate investment trust than 20% from the first quarter. which could be had this month starting at $4,700 per month for a bought a leasehold from ARK for $148.5 million, But, Savills added, “even with the one-bedroom. On the sale side, the priciest unit was a four-bedroom before unloading it for $41 million in 2018. Steep new activity, tenants are facing a stag- duplex penthouse for $10 million that has lingered since 2019, when ground-lease payments were a problem, according gering number of options.” ■ it came on the market for $11.5 million, though it was then offered to news reports. The buyer was the Arden Group, a with a 32nd-floor studio, according to StreetEasy.com. Once owned Philadelphia firm whose hotel holdings include oth- Have a block that you would like us to by entertainment giant Sony, the penthouse was sold in 2014 for $7 er Le Meridiens, Ritz-Carltons and Hiltons. look at? Please email us at: million to developer Waterbridge Capital, according to records.

[email protected] GOOGLE MAPS BUCK ENNIS,

4 | CRAIN’S NEW YORK BUSINESS | July 26, 2021

P004_CN_20210726.indd 4 7/23/21 1:50 PM Building stronger communities in New York City

Bank of America is helping to meet the need for more affordable housing in neighborhoods across the country. Through Community Development Banking, we’re deepening our commitment to create more communities for people to call home.

In 2020, we committed $5.87 billion for affordable housing and economic development financing, resulting in over 13,000 housing units for people and families in need — many of which were constructed by diverse developers. That includes over $314 million to create approximately 550 housing units right here in New York City.

In addition, we’re joining Enterprise Community Partners to invest $60 million in capital to support minority developers and their work to build inclusive communities.

My teammates and I remain dedicated to helping more people find a place to live they can both love and afford. What would you like the power to do?®

José Tavarez President, Bank of America New York City

Go to bankofamerica.com/metroNY to learn more about the work we are doing with our incredible partners.

Bank of America, N.A. Member FDIC. Equal Housing Lender © 2021 Bank of America Corporation. All rights reserved.

CN020326.indd 1 7/20/21 10:34 AM IN THE MARKETS Succession turmoil hits Harry Potter publisher Scholastic CEO gives control of the family business to an outside party for the first time in its 101-year history

ook publisher Scholastic is appointed board chairman. no longer controlled by its The company also announced \ founding family and has a that publishing-industry veteran new CEO and chairman af- Peter Warwick, 69, would come out Bter the death last month of long- of retirement to become Scholas- time CEO Dick Robinson. tic’s third CEO in its 101-year histo- In his will, Robinson bypassed ry and the first non-Robinson. his two sons, John and In a statement, the Reece, who were consul- Scholastic board said tants to Scholastic, to Warwick has “the requi- hand control to Chief site experience and in- Strategy Officer Iole sights to deliver strong ­Lucchese, who has growth and financial per- worked at the company formance.” He has more for 30 years. than 35 years in publish- Robinson’s death on ing and was chief people June 5, at age 84, in Mar- officer at Thomson Reu- tha’s Vineyard was de- AARON ELSTEIN ters before retiring in scribed as sudden and 2018. He joined Scholas- appears to have caught tic’s board in 2014. Scholastic, publisher of the Harry A spokeswoman said Warwick Potter and Hunger Games series, off wasn’t available for an interview. guard. It certainly alarmed inves- She declined to comment on be- tors. Scholastic’s share price has half of Robinson’s sons, who could lost 16% in the past few weeks, or not be reached. about $250 million in market value. Under the terms of Robinson’s Striking gold ROBINSON will and revocable trust, Lucchese The succession issue has befud- is to be the sole beneficiary of his dled family-run outfits since before super-voting shares, which grants King Lear’s time and provided fod-

der for an HBO se- BLOOMBERG ries. Earlier this year THE ISSUE HAS BEFUDDLED a CBS News reporter formed it from a provider of class- In 2017 the company reported Pandemic losses asked if Robinson room magazines, book clubs and $1.7 billion in revenue—about the Scholastic swung to a $44 million FAMILY-RUN OUTFITS SINCE had a successor in stories like Clifford the Big Red Dog same as The New York Times Co., loss last year as revenue slipped to mind at Scholastic. into a publisher of mega-sellers, and Scholastic’s $52 million in net $1.5 billion. Robinson cut his pay BEFORE KING LEAR’S TIME “That’s a matter I starting in 1998 when it put out the earnings was 10 times higher than by two-thirds, to $1 million. During should probably dis- first of sevenHarry Potter novels. It that of the venerable newspaper his final conference call, in May, cuss with myself,” he also struck gold with The Hunger publisher. Robinson said business was im- her control of the board. She was said, “and then with you later.” Games and Captain Underpants Scholastic acquired its head- proving as children returned to named special executor to Robin- Robinson took over Scholastic and the Attack of the Talking Toi- quarters building on lower Broad- classrooms. Its stock-market capi- son’s estate and last Monday was from his father in 1975 and trans- lets. way for $256 million in 2014. talization is $1.1 billion. ■

DIVERSITY & INCLUSION Crain’s honors those working toward equity with Excellence in Diversity & Inclusion Awards

BY GABRIEL POBLETE “IF YOU’RE GOING rain’s New York Business TO DO BUSINESS held its first-ever Excellence in Diversity & Inclusion FOR THE MTA, WE CAwards, honoring those who are making strides in creating a more EXPECT YOU TO [BE] equitable workplace. The keynote speaker for the inau- INCLUSIVE OF OUR gural ceremony was the Metropoli- tan Transportation Authority’s M&WBE GOALS” chief diversity officer, Michael J. Garner, who during a conversation Commerce with Crain’s Editor Cory Schouten stressed the need for the private Top Diversity and Inclusion Officer sector to help with expanding ini- ● Michael J. Garner, Metropolitan tiatives for minority- and wom- Transportation Authority en-owned business enterprises. “Our motto and mantra is that if Diversity Champions you’re going to do business for the ● Large-company category: Weill MTA, we expect you to complete Cornell Medicine ● your project safely, timely, on bud- BUCK ENNIS Medium-company category: get and inclusive of our M&WBE MICHAEL J. GARNER (right) with Crain’s Editor Cory Schouten Shawmut goals,” Garner said. ● Small-business category: ● Dr. Mill Etienne, New York ● Matt Hyde, Turner Building Congress Basis Investment Group 2021 RECIPIENTS Medical College Construction Champions of Change ● Dr. Yvette Calderon, Albert Civic Diversity Hero To read more about this year’s ● Zoila Del Castillo, New York Einstein College of Medicine Board Hero ● Quenia Abreu, New York award winners and nominees, visit Attorney General’s Office ● Derek Melvin, Morgan Stanley ● Elizabeth Velez, New York Women’s Chamber of CrainsNewYork.com. ■

6 | CRAIN’S NEW YORK BUSINESS | July 26, 2021

P006_CN_20210726.indd 6 7/23/21 12:13 PM SPONSORED CONTENT Interesting times for construction contractors

job. By taking on work at these prices, this puts signi cant pressure on the contractor’s nances. If the work is not properly monitored or managed, it could even put contractors out of business. If a contractor decides to take on less pro table work, they must monitor the project on a daily basis and make sure they have adequate funds to get through the project.

Monitoring these projects with today’s technology, if properly implemented, should be a relatively easy task, but any construction management must be very contractors are involved with this process, and Mcurrently facing tough they must push the work to get decisions regarding future work, done on schedule. Cost overruns pricing of the work, and and delays can really create pro tability. Despite the major issues at a time that a pandemic, most contractors are contractor can least a ord it. coming o very pro table 2019 Most contractors who are taking and 2020 years by completing on this type of work to keep busy work that was already on the are expecting that by the time books.  e Paycheck Protection they are mostly done, the market will open up with new opportunities so they can o set ABOUT THE AUTHOR some of the potential losses with more pro table work in the their customer’s jobs if they country with the kick start adopt a  exible work schedule, future—a more positive pro tably ran their business needed to get things going back there is a strong belief that the approach to the current throughout the pandemic, to pre-pandemic times. In commercial interior sector will situation. However, this comes received adequate PPP funds, addition to the infrastructure return at some point as with signi cant risk and and do not have a signi cant bill, additional factors such as employees will eventually be uncertainty, which is a major amount of debt. Waiting the vaccination rollout, required to come back to their gamble for many business patiently could lead to positive employees returning to their o ces. owners in this new post-Covid results in the future as major o ces, and the country opening world.  e result of taking on cities and metropolitan areas up in popular metropolitan areas As the pandemic comes to an less pro table work could weed return to a new “normal” in a will also help developers and end and we move into the new out undercapitalized and poorly post-Covid world. Factors that other property owners normal, the construction managed contractors who drive could a ect the industry include commence construction. If this industry will do the same. Both prices down on bids because  exible work schedules for many occurs, this will also provide a options above provide risks to Salvatore Leone, CPA they want to “keep their men/ businesses, the uncertain need much-needed boost in the most construction companies, Partner and Construction women busy” and take a shot at for o ce space, and the shift in commercial interior sector of the and owners of these companies Co-Practice Leader getting work. During the desire for people to live in construction industry, which will have to do their best to [email protected] recessionary times of 2007 and metropolitan areas. It is believed su ered signi cantly during this measure their risk tolerance 2008, we saw many contractors that these metropolitan areas pandemic as employees stopped levels during these di cult exit the industry because they will eventually come back to the going into the o ce and o ce times. Either way, the industry Program (“PPP”) helped these were undercapitalized and pre-pandemic times, but the renovations were put on hold. will remain in some form, and contractors keep their employees unable to sustain their question remains as to when and Despite the fact that most the people in this industry will and deal with the ine ciencies businesses due to the lack of how long will this take to employers are currently giving be even more resilient than in that were caused by the future work, signi cant debt happen?  is question is one of their employees the option to the past. pandemic, but contractors are levels, and signi cant bad debts the toughest questions to answer now left with a market that does from customers who were for contractors who are sitting on not have enough new work. In unable to pay for completed the sidelines and waiting for the addition, any work that is being work.  e “strong” and well- markets to open back up.  e released has many bidders and managed contractors survived next question would be, how extreme competitiveness that during those times, and we can long until their money runs out drives the prices down at the expect that will also be the case before new pro table work same time when many of the for today’s situation as well. begins? How long do they keep associated costs, such as their employees until work building materials and labor, are  e other option for contractors comes in? Everyone in the all increasing. Due to the today is to sit on the sidelines industry hopes that the waiting situation, contractors are forced and wait until the market opens period for the construction to decide on whether or not they up with more pro table work market to change will be should take on work at lower and less bidders. Some relatively short.  e prices than usual, with the hope contractors may have the bene t infrastructure bill that is that nothing will further of doing this without having to currently being negotiated by the decrease the pro t during the make an “investment” in one of U.S. Congress can provide the

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7 | CRAIN’S NEW YORK BUSINESS | JULY 26, 2021 CRAIN’SCONTENTSTUDIO NEW YORK

P007_CN_20210726.indd 7 7/22/21 10:16 AM chief executive of cer K.C. Crain senior executive vice president Chris Crain EDITORIAL group publisher Jim Kirk publisher/executive editor Frederick P. Gabriel Jr. It’s time to revisit public election outlays EDITORIAL editor-in-chief Cory Schouten assistant managing editors Telisha Bryan, he city’s election generated. More candidates ran, matching funds and more women and people of Janon Fisher program pumped $109 color won elections. But the big deputy digital editor, audience & analytics million of taxpayer payouts also suggest it is time for Jennifer Samuels money into citywide the city to revisit whether the associate editor Lizeth Beltran campaigns during this year’s program has become too gener- art director Carolyn McClain Tprimary season, nearly double the ous—more prone to enriching a photographer Buck Ennis total paid out in the last two permanent class of political mayoral elections. professionals with taxpayer data editor Amanda Glodowski Eligible campaigns collected $8 dollars than leveling the playing senior reporters Cara Eisenpress, for every $1 given by individual  eld for candidates. Aaron Elstein, Eddie Small donors under a $250 threshold, Reducing the match proportion reporters Ryan Deffenbaugh, Maya Kaufman, after reform-minded advocates would rightsize the taxpayer Brian Pascus, Natalie Sachmechi, Shuan Sim won a 2018 ballot initiative to investment and bring the city boost a “match” ratio that had more in line with some of its peers executive assistant Devin Cavallo been $6-to-$1. e goal of the that run similar programs. Los to contact the newsroom: program is to allow candidates Angeles matches eligible small www.crainsnewyork.com/staff with community and grassroots political donations up to a 4-1 212.210.0100 support—but less access to basis for general elections, and 685 Third Ave., New York, NY 10017-4024 deep-pocketed donors or their Washington, D.C., uses a 5-1 ratio own stash of wealth (think for those under $50. Seattle sends ADVERTISING )—to compete its voters “democracy vouchers” www.crainsnewyork.com/advertise in the political arena. so they can individually direct account executives Kelly Maier, contributions Courtney McCombs, Christine Rozmanich, to candidates, Laura Warren REDUCING THE MATCH who must agree to people on the move manager Debora Stein, [email protected] PROPORTION WOULD RIGHTSIZE spending BLOOMBERG TAXPAYER INVESTMENT limits and CUSTOM CONTENT participate in Council races). For comparison, some who are competent, others senior manager, custom content debates. the public matching fund paid out who are incompetent, but all who e higher match, coupled with Even some of New York’s a combined $56 million for all four are guaranteed income,” Hank Sophia Juarez, a crowded  eld of candidates and political consultants are sounding citywide elections in 2013 and Sheinkopf, a consultant with 40 [email protected] the city’s new ranked-choice the alarm about this year’s $109 2017, both primary and general, years’ experience in city and EVENTS voting system, resulted in a $40 million outlay for citywide races according to Campaign Finance national elections, told Crain’s. www.crainsnewyork.com/events million windfall for political ($39.2 million went to Democratic Board data. “We have a business that was marketing manager Jessica Botos, consultants (see “Political consul- and Republican mayoral candi- “ e combination of ranked- never intended to be full employ- tants cash in on election ‘gold mine,’ ” dates, and $69.8 million went to choice voting and public  nanc- ment for people who don’t win [email protected] page 1). It’s heartening to see the the comptroller, borough presi- ing has created a permanent and is provided money from the manager of conferences & events civic engagement the e ort dent, public advocate, and City industry of political consultants, taxpayers.” ■ Ana Jimenez, [email protected] REPRINTS OP-ED director, reprints & licensing Lauren Melesio, 212.210.0707, [email protected]

PRODUCTION Good tech jobs can be the key production and pre-press director Simone Pryce to closing New York’s wealth gap media services manager Nicole Spell SUBSCRIPTION CUSTOMER SERVICE www.crainsnewyork.com/subscribe BY TOM GRECH AND CLYDE VANEL New York’s job growth. larly among Black and brown sure that low-income neighbor- e trend has been gaining mo- workers. hoods have the tools they need to [email protected] ven before the onset of the mentum for years. From 2008 to access the internet and the poten- 877.824.9379 (in the U.S. and Canada). pandemic, pathways to the 2018, the number of tech jobs in Rising tech tial for growth and development it $3.00 a copy for the print edition; or middle class were becoming the city increased by 45%. While So what can our city do to fur- represents. Beyond that, we must $129.00 one year, for print subscriptions Eincreasingly sparse in our city. their relevance to the modern ther encourage growth in technol- provide all members of our com- with digital access. During the crisis, we lost many world and increasing availability ogy? First, we can work on educat- munities with the skills and educa- more middle-class jobs, some of are key, what’s most important ing workers about the tion to fully capitalize on their po- Entire contents ©copyright 2021 which may never return. about these jobs is the security and opportunities that tech represents. tential. Crain Communications Inc. All rights But the tech sector represents stability they provide to workers Far too many people and commu- Finally, we must do all we can to reserved. ©CityBusiness is a registered the most clear and obvious path looking to establish themselves in nities feel that tech isn’t for them encourage innovation in tech in trademark of MCP Inc., used under license forward, and in Queens, we are the middle class. and that those careers aren’t even the city and create a welcoming agreement. committed to seizing the opportu- Many of these jobs provide com- options to consider. Educating the environment that inspires individ- nity. petitive salaries that can set work- workforce helps everyone. uals and companies to call Queens CRAIN COMMUNICATIONS INC. If there’s one thing that Covid-19 ers up for decades of upward mo- It’s also essential that we work home. chairman Keith E. Crain taught us, it’s that technology will bility. e tech industry is projected on closing the digital divide. Cur- Opportunities to address so vice chairman Mary Kay Crain continue to be an integral part of to grow 15% by 2028, easily outpac- rently, those who have reliable in- many pressing socioeconomic chief executive of cer K.C. Crain our economy and our daily lives. ing the rest of the economy, mean- ternet—and can a ord to access concerns at once come along in- e need is there, and the jobs are ing that workers will continue to be the digital world—enjoy the bene- frequently. Let’s do all we can to senior executive vice president Chris Crain there, waiting to be  lled. in high demand.  ts, while those who can’t are left spread the word about what tech secretary Lexie Crain Armstrong One recent study found that ere is a growing movement in behind. As the internet continues can do for our city. ■ editor-in-chief emeritus Rance Crain there were more openings for tech the tech sector to recognize that a to become the premier place chief nancial of cer Robert Recchia positions during the pandemic college degree does not solely de- where jobs are  lled, products are omas Grech is president and than for any other job in the city—  ne a job candidate’s ability. Many bought and even government op- CEO of the Queens Chamber of founder G.D. Crain Jr. [1885-1973] even jobs in health care. e re- top tech companies report hiring erates, this lack of access shifts Commerce. Clyde Vanel is an chairman Mrs. G.D. Crain Jr. [1911-1996] searchers conducting the study candidates without a college de- from inconvenience to invisibility assemblyman for the 33rd District concluded that the tech sector will gree—a move that has allowed for to outright injustice. and chair of the subcommittee on likely be one of the main engines of untold upward mobility, particu- At a bare minimum, we must en- internet and new technologies.

8 | CRAIN’S NEW YORK BUSINESS | JULY 26, 2021

P008_CN_20210726.indd 8 7/23/21 3:58 PM OP-ED 5G is safe and critical to New York’s recovery

BY ROBERT BIANCO outright lies about the safety of 5G. search should not be pursued. But those efforts should not derail im- iven the popularity of tele- Communication breakdown portant technological investments commuting and the efficien- From 77 mobile towers burned in and advancements now that would cies it offers, remote work is Britain to the Nashville, Tenn., bring much-needed connectivity to Glikely here to stay. bombing, a disturbing wave of an- underserved communities and fa- In fact, a few surveys have deter- ti-5G sentiment is rising across the cilitate the kind of innovations nec- mined that fewer than one in five nation and the globe. The claims essary to move our state and nation executives want to return to a not only threaten the widespread forward. pre-pandemic routine, and one in adoption of next-generation con- The reality is that without suffi- three employees would consider nectivity at a time when we need it cient connectivity upgrades, the digi- quitting their job altogether if most to bolster the economic re- tal divide that was laid bare and exac- forced to be in the office full time. covery effort, but they also could erbated during the pandemic will With those realities in mind, and serve to undermine efforts to bol- only worsen, making it even more in the face of a significant labor ster public safety by preventing the difficult for communities that were shortage that puts a newfound pre- deployment of critical communica- disproportionately impacted by mium on employee retention, tions infrastructure. Covid-19 to receive the access they many companies are opting for a The industry cannot be compla- need to succeed in the “new normal.” hybrid work model. cent in the face of this threat. It is The success of a part-time work- incumbent on us to educate elected Merely misguided from-home approach relies on en- officials, business leaders and other In New York City alone, 40% of suring that workers have reliable policymakers about the truth re- households do not have both home

and robust online access. garding 5G and the danger of failing and mobile internet connections; BLOOMBERG This is something that even a to invest in next-generation con- 18% have neither. This leaves those sharply divided Congress can agree nectivity—which would leave New who most need reliable online ac- als, people of color and young To do that we must redouble our on, as evidenced by the recently York and the rest of the U.S. behind. cess to facilitate remote work, edu- adults, who are more likely to rely efforts to reject harmful misinfor- announced bipartisan infrastruc- The consensus of seven decades cation, telehealth and more at an on a smartphone as their primary mation—be it merely misguided or ture deal, which reportedly in- of research by worldwide health even greater disadvantage. means of online access. intentionally insidious. ■ cludes $65 billion for universal and safety organizations is that The deployment of 5G can play a With the economy slowly but broadband. The future of this criti- electromagnetic emissions of 5G at key role in closing the digital divide. steadily rebounding from the pan- Robert Bianco is vice president of cal investment is increasingly the levels allowed by the Federal The overwhelming majority of demic, New York and the U.S. can- business development at Hylan, a threatened, however—not by geo- Communications Commission are Americans—81% in 2019—own a not afford to lose any measure of provider of communications graphical challenges or local zon- safe. No adverse health effects have smartphone, making mobile devic- competitiveness or, worse yet, re- solutions, electrical infrastructure ing laws or even NIMBYism but by been definitively linked with expo- es an opportunity to address the gress. It is critical that we act now to design and construction services for a growing phenomenon of misin- sure to wireless technologies. lack of connectivity. That’s espe- facilitate next-generation connec- wire-line, wireless and smart-city formation, conspiracy theories and That isn’t to say that additional re- cially true for low-income individu- tivity so all New Yorkers can thrive. municipal services.

OP-ED Unregulated construction- labor firms exploit ex-inmates

BY DANNY COLEY AND JOHN SIMMONS behind bars—to view yourself as And the leaders of this wealthy, sup- someone who deserves only pen- posedly progressive city will finally e are survivors of a system nies on the dollar and must “seek have to acknowledge the Black and of racial exploitation with and maintain” employment or risk brown people who build countless a long history of profiting getting sent back to jail. The threat offices and apartments. Wfrom Black and brown workers. You of re-incarceration is very real for might not see our chains when you body-shop workers and is a per- Economic imprisonment Our top priority is pass a nonunion construction site, sistent barrier to real, meaningful When the best or only option for but believe us when we tell you they re-entry and workplace organizing New Yorkers of color after incarcer- your bottom line. are there. for better jobs among the formerly ation is a low-wage job on a danger- The two of us met in prison. After incarcerated. ous construction site, they are still we were released, we were fun- Systems of oppression often func- imprisoned economically. neled to exploitive construction la- tion in the shadows. They thrive un- That’s wrong, unjust and unac- Count on our bor service providers known as named and unseen. Today we are ceptable. “body shops.” These unregulated naming the often overlooked but Here in New York, the work of employment firms prey on former- widespread system of body-shop criminal-justice reform should fo- Construction advisors ly incarcerated New Yorkers who exploitation and its role in the New cus not just on ending the era of are trying to rebuild their life and York City construction and real es- mass incarceration but also on en- to help you reach re-enter the economy. tate industries. And we are urging suring that formerly incarcerated Make no mistake: Body shops the City Council to pass Introduc- workers can pursue real re-entry your business goals. use our incarceration histories and tion 2318-2021, a bill that would through meaningful careers in con- parole status to coerce us into dan- regulate body shops and help pro- struction and other industries. gerous jobs on nonunion construc- tect laborers who will build the fu- As the city rebuilds from the tion sites that often condemn us to ture of New York after Covid-19. Covid-19 pandemic, more New grassicpas.com/construction poverty. Under the terms of the bill, body Yorkers like us should have a clear- Coerced labor should have no shops wouldn’t be eliminated, but er pathway from incarceration into role in prison, let alone in the con- they would have to own their ac- union jobs and careers that lead to struction and real estate industries tions and be held accountable for real economic security. in New York City—one of the them. And they would have to tell To achieve those goals, city gov- wealthiest places on the planet. Yet workers what benefits are being of- ernment must take action. our bosses, parole officers and non- fered, what their pay will be and We urge all City Council mem- profit service providers told us we where they will work. bers, including Speaker Corey were lucky to have these bad jobs, This bill is necessary to transform Johnson, along with Mayor Bill de and that our low-wage labor was the broken system that funnels Blasio, to support the bill. ■ just another step to our eventual re-entry workers to exploitative liberation. construction jobs. General contrac- Danny Coley and John Simmons, After all, prison primes you to tors will have to give up the pretense formerly incarcerated New Yorkers, think of yourself as an unworthy that they are unaware of what’s hap- are now members of Laborers’ worker once you are released from pening on the job sites they control. Local 79.

July 26, 2021 | CRAIN’S NEW YORK BUSINESS | 9

P009_CN_20210726.indd 9 7/23/21 10:31 AM Advertising Section

To place your listing, visit www.crainsnewyork.com/people-on-the-move PEOPLE ON THE MOVE or, for more information, contact Debora Stein at 917.226.5470 / [email protected]

EDUCATION FINANCE LAW

New York Institute of Sycamore Advisors, LLC Latham & Watkins LLP Technology INDUSTRY Sycamore Advisors, William C. “Beau” New York Institute LLC, an independent Brashares has of Technology has municipal advisory joined the New York ACHIEVERS granted tenure to rm, has expanded of ce of Latham & Christina Finn, Ed.D., by adding two staff Watkins as a partner assistant professor members to further in the Corporate ADVANCING Lamendola of Occupational Therapy in the strengthen the rm’s Department and School of Health Professions, national municipal member of the Investment THEIR CAREERS and promoted her to associate advisory practice. Funds and Private Equity professor. The School of Health Joining Sycamore Practices. Brashares represents Professions’ unique transcultural are seasoned muni fund sponsors in the formation approach prepares students to professionals, and management of private care for patients with a range of Jessica Lamendola investment funds, including Recognize them in Crain’s backgrounds and beliefs while (senior vice president) Harlow-Dion buyout, mezzanine, venture, its extensive clinical network in and Lucien Harlow-Dion senior debt, industry-speci c, urban, rural and global settings (quantitative analyst). Both and funds-of-funds, as well as provides exceptional eldwork bring a fresh analytical capacity the structuring, operation, and opportunities. and unique perspectives as regulatory compliance of their the rm continues providing management companies. independent advice for high priority municipal projects for clients in the Midwest and REAL ESTATE Northeast. Sycamore Advisors, EDUCATION LLC is a Women Business JRT Realty Group, Inc. Enterprise (WBE) registered with New York Institute of the U.S. Securities and Exchange JRT Realty Group, Technology Commission and Municipal the nation’s largest Securities Rulemaking Board and certi ed woman- New York Institute of provides services to state and owned commercial Technology College local governments and leading real estate rm has of Osteopathic not-for-pro ts. announced the hiring Medicine (NYITCOM) of Andrew Judd as Assistant Professor of Chief Operating Of cer. An Clinical Specialties industry veteran with more Maria Pino, Ph.D. has been than 30 years’ experience, promoted to associate professor. Judd will lead JRT’s internal Based in , NYITCOM strategy, operations and growth For listing opportunities, prepares physicians for a lifetime initiatives, and help maximize contact Debora Stein at of learning and practice by supplier diversity efforts for [email protected] or submit directly to integrating evidenced-based HEALTHCARE TECHNOLOGY Fortune 500 rms and others. knowledge, critical thinking, Prior to joining JRT, Judd and the tenets of osteopathic H1 spent 17 years with Cushman CRAINSNEWYORK.COM/PEOPLEMOVES principles and practices. & Wake eld, most recently as Graduates are respected primary Dr. Mohak Shah is a Managing Principal for its New care physicians, specialists, technology executive Jersey region. researchers, policy leaders, and with an established academic faculty. history of leading high-impact initiatives in AI, IoT, digital transformation, and building data-driven businesses and ENGINEERING strategies. Before joining H1, he was the Vice President of AI and SHARE YOUR COMPANY’S JOURNEY Sam Schwartz ML at LG Electronics, and prior to that was the Head of Data Michael A. Shamma, Science at Bosch. He is deeply PE, has been named passionate about responsible Feature your latest milestones, launches, partnerships, President and CEO. development, introduction, awards and more in Crain’s He has served as adoption, and integration of the rm’s President AI capabilities in industry and since February 2020. society at large. Under his leadership, the rm has recently expanded its Transit + Rail team, opened a new of ce in Seattle, and grown its offerings in transportation planning, complete streets, and electri cation. Prior to joining the private sector, Michael For more information, contact served as Chief Engineer of the ANNOUNCE Debora Stein at [email protected] NYS Thruway Authority and or submit directly to Canal Corporation and Chief YOUR BIG CRAINSNEWYORK.COM/COTM Engineer of NYSDOT. NEWS IN CRAIN’S!

10 | CRAIN’S NEW YORK BUSINESS | JULY 26, 2021

P010_CN_20210726.indd 10 7/23/21 11:01 AM ASKED & ANSWERED

important too. Not just hospital employers, but DOSSIER we also need community and faith leaders to SANDRA LINDSAY come together. Long Island Jewish Medical Center WHO SHE IS Critical care nurse, Northwell Health’s Long Island Jewish Medical Center What role do medical workers play in fight- INTERVIEW BY SHUAN SIM ing community hesitancy? AGE 52 People look up to us for advice and n July 7 the city held its Hometown BORN Palmers Cross, Jamaica guidance. But if we don’t believe in Heroes ticker-tape parade in celebration the science, how can we expect our RESIDES Port Washington, Long Island fellow community to? I have been of the roles health care and essential EDUCATION Bachelor’s in nursing, St. Joseph’s on local Caribbean channels on the workers played during the pandemic. College; master’s in nursing, Lehman College; radio, sharing my experiences with The grand marshal was Sandra Lindsay, a criti- MBA, Hofstra University; doctor of health the vaccine. People have come to me O with questions, and I’ve been able to cal care nurse at Northwell Health’s Long Island sciences, A.T. Still University appeal to them with facts. Jewish Medical Center, who on Dec. 14 became FAMILY LIFE Lindsay has a son, Kadeem, and a the first American to receive a dose of a Covid-19 grandson, Avery. With the crisis ending, how can we vaccine. As of earlier this month, 73% of hospital VARIED INTERESTS She enjoys traveling, gardening, get everyone back to the doctor? workers in the state had completed their Covid playing tennis and spending time in the great People need to be convinced that it is outdoors. Her favorite sports to watch include safe to access health care facilities vaccine doses; in New York City, the rate was 70%, tennis, track and field, and football. again. That means educating the public and on Long Island, 76%. But Lindsay says the on measures that medical offices are A TREASURED MEMORY Lindsay finds inspiration industry can do better. The Jamaica native urges taking to decrease risks; providing the in the birth of her grandson. “Every time I think facts regarding the costs of not caring continued efforts to convince those who are still about the conditions under which he was for oneself, which could ultimately be hesitant that being vaccinated is the right choice. born—prematurely during a pandemic—and death; and tapping into telehealth when how he fought to be alive today, it breaks but appropriate. Why are there health care workers who still haven’t at the same time warms my heart. I know that gotten vaccinated? he is a fighter like his nana.” How can we address the pandemic’s People often ask, “How can health care workers be strain on mental health? hesitant when our profession is rooted in sciences?” Engaging in activities that increase physical But health care workers are human too; they have the If efforts to educate medical workers about health will also help mental health. At the same concerns as everyday people. Ideas that “holistic” the benefits haven’t worked, what else will? peak of the pandemic, when my stress levels or “natural” defenses protect enough against Covid or Just because they haven’t worked doesn’t mean were the highest, I found running to be very fears about the vaccine’s side effects have not changed they will never work, especially as new data keeps helpful. Having a support system of family, much since day one. Unfortunately, the speed of the coming out. And with the threat of the newest friends and community is healthy. Attention to internet means just one incorrect piece of information variant, those studies will eventually win spiritual health is also beneficial, whether that

travels rapidly. them over. Who’s delivering the message is is attending church services or meditation. ■ BUCK ENNIS

IS PLEASED TO WELCOME THE FOLLOWING NEW TENANTS

AND PTDL LEASE RENEWAL

THANK YOU TO THEIR REPRESENTATIVES: Kevin Sullivan and Leslie Harwood from Newmark – CoBe Capital Ruth Colp Haber from Wharton Properties – TPR Holdings LLC Kostas Alafoyiannis from Greiner-Maltz – The Floating Hospital Carlee Palmer and Cynthia Wasserberger from JLL – PTDL Realty Corp

FOR ALL INQUIRIES PLEASE CONTACT:

Jared Horowitz Josh Gosin Emma Kistler Vice Chairman Managing Director Associate 212-372-2022 212-372-2076 212-372-2403 [email protected] [email protected] [email protected]

July 26, 2021 | CRAIN’S NEW YORK BUSINESS | 11

P011_CN_20210726.indd 11 7/22/21 6:05 PM 2020 2020 NEW YORK–AREA COMPANYWIDE REVENUE (IN REVENUE (IN COMPANY/ MILLIONS)/ MILLIONS)/ 2020 ADDRESS/ PHONE NUMBER/ % CHANGE VS. % CHANGE VS. NEW YORK–AREA RANK PARENT COMPANY WEBSITE HEAD(S) OF NEW YORK OFFICE 2019 2019 EMPLOYEES 1 KEY PROJECTS/CLIENTS 2

Turner Construction Co. 212-229-6000 Charles Murphy $2,600.0 $14,000.0 1,628 n/d 375 Hudson St. turnerconstruction.com Senior vice president, general manager +1.1% -5.4% New York, NY 10014 Pat Di Filippo 1 Turner Corp. Executive vice president

AECOM Tishman 212-708-6800 Jay Badame $2,572.5 $6,569.0 775 /JPMorgan Chase, 270 Park 100 Park Ave. aecomtishman.com President, chief operating officer -25.2% +58.3% Ave. New York, NY 10017 2 AECOM

Structure Tone/Pavarini McGovern 212-481-6100 Michael Neary $2,366.6 $8,080.0 841 Pfizer Headquarters/TSX /Facebook/ 330 W. 34th St. structuretone.com President, Structure Tone +21.6% +2.4% Google Pier 57 New York, NY 10001 Eric McGovern 3 STO Building Group President, chief executive, Pavarini McGovern

Tutor Perini Corp. 914-739-1908 Henry Cheung $2,066.7 $5,318.8 391 Newark Airport Terminal One/CM007 GCT 1000 Main St. tutorperini.com President, Civil East +9.6% +19.5% Station Caverns and Track for East Side Access New Rochelle, NY 10801 Project (MTA Capital Construction)/Baruch 4 Houses

Skanska USA 917-438-4500 Michael Viggiano $1,511.0 $17,200.0 2,500 Moynihan Train Hall/LaGuardia Terminal B 350 Fifth Ave. usa.skanska.com Executive vice president -26.9% -8.0% redevelopment/Hunts Point/Penn Station 33rd New York, NY 10118 Tom Webb St. Access 5 Skanska AB General manager, executive vice president

Lendlease (US) Construction LMB Inc. 212-592-6700 Steven Sommer $1,351.6 $4,673.8 549 , 217 W. 57th St./Jacob K. 200 Park Ave. lendlease.com Executive general manager, president -19.2% -44.7% Javits Convention Center Expansion, 655 W. New York, NY 10166 34th St./The Ritz-Carlton NoMad/NewYork- 6 Lendlease Corp. Presbyterian Methodist Hospital

Gilbane Building Company 212-312-1600 Grant Gagnier $1,304.9 $6,500.0 468 Crown Building, 730 Fifth Ave./Made in NY 88 Pine St. gilbaneco.com Senior vice president, NYC +5.3% +3.2% Campus at Bush Terminal/The New York Public New York, NY 10005 Library, Carnegie Libraries 7 Gilbane Inc.

J.T. Magen & Company Inc. 212-790-4200 Maurice Regan $1,200.5 $1,391.1 417 Facebook/BlackRock/TikTok/Uber 44 W. 28th St. jtmagen.com President -4.2% +0.9% New York, NY 10001 Steven Mount 8 Chief financial officer, treasurer

Tully Construction Co. 718-446-7000 Peter Tully $1,050.0 n/d n/d n/d THE LIST 127-50 Northern Blvd. tullygroup.us President 9 Flushing, NY 11368

LARGEST CONSTRUCTION FIRMS Hunter Roberts Construction Group 212-321-6800 James McKenna $874.0 $1,001.0 303 Sunset Industrial Park, FedEx package 55 Water St. hrcg.com President, chief executive -6.0% -14.1% distribution building and bulkhead work/Little Ranked by 2020 New York–area revenue New York, NY 10041 Island, Pier 55/The Durst Organization, 10 HR Holdings Queens Plaza Park/RXR Realty, Long Island University residential tower A HARD HIT INDUSTRY OPTIMISM AHEAD 2020 2020 NEW YORK–AREA COMPANYWIDE Prior to the pandemic, New York State’s construction industry grew at an average Eight companies on the list who reported 2021 projections anticipate higher revenue JRM Construction Management 212-545-0500 David McWilliams $660.0 n/d 360 Peloton headquarters and studios/Latham & 242 W. 36th St. jrmcm.com Chief executive REVENUE-20.0% (IN REVENUE (IN Watkins headquarters/Taconic Partners 125 annual rate of 3.2% per year. In 2020, 44,400 construction jobs were lost. % figures than the year before. Last year, four companies on the list expected their NewCOMPANY/ York, NY 10018 Joseph Romano MILLIONS)/ MILLIONS)/ 2020 West End Ave. life science building revenue to drop by more than 20%. ADDRESS/ PHONE NUMBER/ % CHANGE VS. % CHANGE VS. NEW YORK–AREA 11RANK PARENT COMPANY WEBSITE PresidentHEAD(S) OF NEW YORK OFFICE 2019 2019 EMPLOYEES 1 KEY PROJECTS/CLIENTS 2 New York State Construction Employment (thousands of jobs) -8 Projected growth in 2021 New York-area revenue 450 AVERAGE DECREASE SCHIMENTI CONSTRUCTION COMPANY TurnerPosillico Construction Inc. Co. 212-229-6000631-249-1872 CharlesJoseph Posillico Murphy $2,600.0$548.6 $14,000.0$548.6 1,628n/d n/d in New York-area 28.50% 3751750 Hudson New Highway St. turnerconstruction.composillicoinc.com SeniorPresident, vice chief president, executive general manager +1.1% +46.7%-5.4% revenue among firms 362.2 IOVINO ENTERPRISES NewFarmingdale, York, NY 10014NY 11735 Pat Di Filippo on the list 19.33% 112 Turner Corp. Executive vice president 400 TRITON CONSTRUCTION CO. 19.02% AECOMIovino Enterprises Tishman 212-708-6800718-571-9599 JayThomas Badame Iovino $2,572.5$419.0 $6,569.0$419.0 775258 OneWTC Vanderbilt/JPMorganPort Authority Police CommandChase, 270 Center/ Park HUDSON MERIDIAN CONSTRUCTION GROUP 1001 Rockefeller Park Ave. Plaza aecomtishman.comiovinoent.com President,Founder, chief chief executive operating officer +44.1%-25.2% +58.3%+35.4% Ave.Rutgers Tube Rehabilitation/Manhattan 15.43% New York, NY 1001710020 Dechlorination Facility at Owls Head STRUCTURE TONE/PAVARINI MCGOVERN 213 AECOM Wastewater Treatment Plant/Brooklyn Bridge approach arches and towers 350 8.83% Structure Tone/Pavarini McGovern 212-481-6100 Michael Neary $2,366.6 $8,080.0 841 Pfizer Headquarters/TSX Broadway/Facebook/ JRM CONSTRUCTION MANAGEMENT OHL USA Inc. 718-554-2320 Uday Durg $416.0 $3,457.5 n/d n/d 486 330 W. 34th St. structuretone.com President, Structure Tone +21.6% +2.4% Google Pier 57 6.06% 26-15 Ulmer St. ohlna.com Executive vice president +24.6% +4.1% AVERAGE NUMBER New York, NY 10001 Eric McGovern LRC CONSTRUCTION LLC. College Point, NY 11354 OF EMPLOYEES that STO Building Group President, chief executive, Pavarini 5.13% 314 OHL USA Inc. work at firms on McGovern 300 E.W. HOWELL CONSTRUCTION GROUP the list 20112010 2012 2013 2014 2015 2016 2017 2018 20202019 1.34% TutorSuffolk Perini Construction Corp. 914-739-1908646-952-8000 HenryCharlie Cheung Avolio $2,066.7$393.0 $5,318.8$3,645.0 391129 NewarkZero Irving Airport at 124 Terminal East 14thOne/CM007 St./640 GCT SOURCES: U.S. Bureau of Labor Statistics and Crain’s research 050 5% % 10% 15% 20% 25% 30% 10001 Pennsylvania Main St. Plaza tutorperini.comsuffolk.com President, Civilgeneral East manager of New York +9.6%-2.0% +19.5%-0.6% StationColumbia Caverns Red Hook and LogisticsTrack for Eastat 640 Side Columbia Access New Rochelle,York, NY 10019 NY 10801 ProjectSt./NYU (MTA College Capital of Global Construction)/Baruch Public Health at 415 Houses404 Lafayette and 308 Broadway 2020 2020 NEW YORK–AREA COMPANYWIDE REVENUE (IN REVENUE (IN SkanskaLRC Construction USA LLC. 917-438-4500914-773-7700 MichaelPeter Palazzo Viggiano $1,511.0$390.0 $17,200.0$435.0 2,500140 MoynihanChurch & DivisionTrain Hall/LaGuardia Phase I at 26 Terminal S. Division B COMPANY/ MILLIONS)/ MILLIONS)/ 2020 3507 Renaissance Fifth Ave. Square usa.skanska.comlrcbuild.com ExecutivePresident vice president -26.9%+1.3% +1.2%-8.0% redevelopment/HuntsSt., New Rochelle/The Point/PennCentre at Huguenot, Station 33rd 41 ADDRESS/ PHONE NUMBER/ % CHANGE VS. % CHANGE VS. NEW YORK–AREA NewWhite York, Plains, NY 10118NY 10601 Tom Webb St.Centre Access Ave., New Rochelle/Continuum Phase 1 2 RANK PARENT COMPANY WEBSITE HEAD(S) OF NEW YORK OFFICE 2019 2019 EMPLOYEES KEY PROJECTS/CLIENTS 516 Skanska AB General manager, executive vice president II, 55 Bank St., White Plains/1515 Surf Ave., Brooklyn Turner Construction Co. 212-229-6000 Charles Murphy $2,600.0 $14,000.0 1,628 n/d Lendlease (US) Construction LMB Inc. 212-592-6700 Steven Sommer $1,351.6 $4,673.8 549 Central Park Tower, 217 W. 57th St./Jacob K. 375 Hudson St. turnerconstruction.com Senior vice president, general manager +1.1% -5.4% Triton Construction Co. 212-388-5700 Lance Franklin $336.1 $336.1 120 101 Lincoln Ave./1245 Broadway/550 Clinton 200 Park Ave. lendlease.com Executive general manager, president -19.2% -44.7% Javits Convention Center Expansion, 655 W. New York, NY 10014 Pat Di Filippo 30 E. 33rd St. tritonconstruction.net Frank Reich +6.5% +6.5% St./Marymount School of New York New York, NY 10166 34th St./The Ritz-Carlton NoMad/NewYork- 1 Turner Corp. Executive vice president New York, NY 10016 Chief executives 617 Lendlease Corp. Presbyterian Brooklyn Methodist Hospital AECOM Tishman 212-708-6800 Jay Badame $2,572.5 $6,569.0 775 One Vanderbilt/JPMorgan Chase, 270 Park Gilbane Building Company 212-312-1600 Grant Gagnier $1,304.9 $6,500.0 468 Crown Building, 730 Fifth Ave./Made in NY 100 Park Ave. aecomtishman.com President, chief operating officer -25.2% +58.3% Ave. E.W. Howell Construction Group 516-921-7100 Howard Rowland $296.0 $296.0 163 South Nassau Communities Hospital - Central 88 Pine St. gilbaneco.com Senior vice president, NYC +5.3% +3.2% Campus at Bush Terminal/The New York Public New York, NY 10017 245 Newtown Road ewhowell.com President, chief operating officer -1.5% -1.5% Utility Plant/PS-IS 419 school/PS 464 Trinity New York, NY 10005 Library, Carnegie Libraries 2 AECOM Plainview, NY 11803 Place school/Far Rockaway Branch Library Gilbane Inc. 718 Obayashi USA Structure Tone/Pavarini McGovern 212-481-6100 Michael Neary $2,366.6 $8,080.0 841 Pfizer Headquarters/TSX Broadway/Facebook/ J.T. Magen & Company Inc. 212-790-4200 Maurice Regan $1,200.5 $1,391.1 417 Facebook/BlackRock/TikTok/Uber 330 W. 34th St. structuretone.com President, Structure Tone +21.6% +2.4% Google Pier 57 Clune Construction 212-682-1789 Tommy Dwyer $280.4 $1,300.0 139 Confidential clients at 200 Park Ave./200 44 W. 28th St. jtmagen.com President -4.2% +0.9% New York, NY 10001 Eric McGovern 405 Lexington Ave. clunegc.com President, eastern region -22.8% -2.0% Liberty St./1633 Broadway/655 Howard St. New York, NY 10001 Steven Mount 3 STO Building Group President, chief executive, Pavarini New York, NY 10174 McGovern 819 Chief financial officer, treasurer Tutor Perini Corp. 914-739-1908 Henry Cheung $2,066.7 $5,318.8 391 Newark Airport Terminal One/CM007 GCT Tully Construction Co. 718-446-7000 Peter Tully $1,050.0 n/d n/d n/d Consigli Construction Co. Inc. 646-679-3500 Anthony Consigli $272.6 $1,742.1 154 Brookfield Properties, Greenpoint Landing, One 1000 Main St. tutorperini.com President, Civil East +9.6% +19.5% Station Caverns and Track for East Side Access 127-50 Northern Blvd. tullygroup.us President 333 Seventh Ave. consigli.com Chief executive -32.1% -1.9% Bell Slip and Two Blue Slip/Delancey St. New Rochelle, NY 10801 Project (MTA Capital Construction)/Baruch Flushing, NY 11368 4 Houses New York, NY 10001 Matthew Consigli Associates, Essex Crossing, Site 4/Columbia 920 Consigli Building Group Inc. President Properties Trust, 799 Broadway Skanska USA 917-438-4500 Michael Viggiano $1,511.0 $17,200.0 2,500 Moynihan Train Hall/LaGuardia Terminal B Hunter Roberts Construction Group 212-321-6800 James McKenna $874.0 $1,001.0 303 Sunset Industrial Park, FedEx package Kiewit Corp. 201-571-2500 Greg Hill $267.3 $12,467.8 525 n/d 350 Fifth Ave. usa.skanska.com Executive vice president -26.9% -8.0% redevelopment/Hunts Point/Penn Station 33rd 55 Water St. hrcg.com President, chief executive -6.0% -14.1% distribution building and bulkhead work/Little 470 Chestnut Ridge Road kiewit.com Senior vice president -8.6% +21.0% New York, NY 10118 Tom Webb St. Access New York, NY 10041 Island, Pier 55/The Durst Organization, Woodcliff Lake, NJ 07677 5 Skanska AB General manager, executive vice president 1021 HR Holdings Queens Plaza Park/RXR Realty, Long Island University residential tower Lendlease (US) Construction LMB Inc. 212-592-6700 Steven Sommer $1,351.6 $4,673.8 549 Central Park Tower, 217 W. 57th St./Jacob K. 200 Park Ave. lendlease.com Executive general manager, president -19.2% -44.7% Javits Convention Center Expansion, 655 W. JRMHudson Construction Meridian ConstructionManagement Group 212-545-0500212-608-6600 DavidPeter Monte McWilliams $660.0$240.1 $240.1n/d 360113 Peloton2401 3rd headquarters Ave., Bronx/468 and studios/Latham Columbus & New York, NY 10166 34th St./The Ritz-Carlton NoMad/NewYork- 24261 Broadway W. 36th St. jrmcm.comhudsonmeridian.com ChiefPresident, executive chief operating officer -20.0%-32.3% -32.3% WatkinsAve./587 headquarters/Taconic Main St., New Rochelle Partners 125 6 Lendlease Corp. Presbyterian Brooklyn Methodist Hospital New York, NY 1001810006 JosephWilliam Romano Cote West End Ave. life science building 1122 PresidentFounder, chief executive Gilbane Building Company 212-312-1600 Grant Gagnier $1,304.9 $6,500.0 468 Crown Building, 730 Fifth Ave./Made in NY 88 Pine St. gilbaneco.com Senior vice president, NYC +5.3% +3.2% Campus at Bush Terminal/The New York Public PosillicoSchimenti Inc. Construction Company 631-249-1872212-246-9100 JosephMatthew Posillico Schimenti $548.6$214.0 $548.6$261.0 130n/d n/dTarget, 139 Flatbush Ave./ George Comfort & New York, NY 10005 Library, Carnegie Libraries 1750575 Lexington New Highway Ave. posillicoinc.comschimenti.com President,President chief executive -22.2% +46.7%-11.5% Sons building repositioning, 63 Madison 7 Gilbane Inc. Farmingdale,New York, NY NY10022 11735 James Harrison Ave./Citizens Food Hall, 450 W 33rd St./CUNY 1223 Vice President, development in the Heights, 5030 Broadway

J.T. Magen & Company Inc. 212-790-4200 Maurice Regan $1,200.5 $1,391.1 417 Facebook/BlackRock/TikTok/Uber 3 3 44 W. 28th St. jtmagen.com President -4.2% +0.9% IovinoLeon D. Enterprises DeMatteis Construction Corp. 718-571-9599516-285-5500 ThomasRichard IovinoDeMatteis $419.0$213.0 $419.0$213.0 258122 WTCn/d Port Authority Police Command Center/ New York, NY 10001 Steven Mount 1820 Rockefeller Elmont Road Plaza iovinoent.comdematteisorg.com Founder,President chief executive +44.1%-20.8% +35.4%-20.8% Rutgers Tube Rehabilitation/Manhattan 8 Chief financial officer, treasurer NewElmont, York, NY NY 11003 10020 Scott DeMatteis Dechlorination Facility at Owls Head 1324 Principal Wastewater Treatment Plant/Brooklyn Bridge approach arches and towers Tully Construction Co. 718-446-7000 Peter Tully $1,050.0 n/d n/d n/d Shawmut Design and Construction 212-920-8900 Les Hiscoe $164.5 $1,234.7 n/d Le Pavillon by Chef Daniel Boulud, One 127-50 Northern Blvd. tullygroup.us President OHL USA Inc. 718-554-2320 Uday Durg $416.0 $3,457.5 n/d n/d 3 E. 54th St. shawmut.com Chief executive -47.6% -16.8% Vanderbilt/Parker New York hotel infrastructure Flushing, NY 11368 26-15 Ulmer St. ohlna.com Executive vice president +24.6% +4.1% New York, NY 10022 David Margolius upgrade 9 College Point, NY 11354 Executive vice president 1425 OHL USA Inc. Hunter Roberts Construction Group 212-321-6800 James McKenna $874.0 $1,001.0 303 Sunset Industrial Park, FedEx package 55 Water St. hrcg.com President, chief executive -6.0% -14.1% distribution building and bulkhead work/Little Suffolk Construction 646-952-8000 Charlie Avolio $393.0 $3,645.0 129 Zero Irving at 124 East 14th St./640 New York, NY 10041 Island, Pier 55/The Durst Organization, NewNew YorkYork areaareaincludes1 Pennsylvania the Plaza five boroughs of New York City andsuffolk.com Nassau, Suffolk and WestchesterPresident, counties generalin Newmanager York andof NewBergen, York Essex, Hudson and-2.0% Union counties in New-0.6%Jersey. Crain's uses staffColumbia research, extensiveRed Hooksurveys Logisticsand at the640 most Columbia current 10 HR Holdings Queens Plaza Park/RXR Realty, Long Island references available,New York,but NY 10019there is no guarantee that these listings are complete. To qualify for this list, a construction company must have a New York–area office and must build projects in the area.St./NYU All information College of was Globalsupplied Public by Healththe companies at 1 2 3 University residential tower 15unless otherwise noted. In the case of a tie, companies are ranked alphabetically. n/d-Not disclosed. --Full-time and full-time-equivalent only. --Selected projects and clients for active or recently completed404 Lafayettework and in the 308New Broadway York area. --Figure is a projection from 2019 JRM Construction Management 212-545-0500 David McWilliams $660.0 n/d 360 Peloton headquarters and studios/Latham & 242 W. 36th St. jrmcm.com Chief executive -20.0% Watkins headquarters/Taconic Partners 125 LRC Construction LLC. 914-773-7700 Peter Palazzo $390.0 $435.0 140 Church & Division Phase I at 26 S. Division New York, NY 10018 Joseph Romano West End Ave. life science building 7 Renaissance Square lrcbuild.com President +1.3% +1.2% St., New Rochelle/The Centre at Huguenot, 41 11 President White Plains, NY 10601 Centre Ave., New Rochelle/Continuum Phase 16 WANT MORE OF CRAIN’S EXCLUSIVE DATA? VISIT CRAINSNEWYORK.COM/LISTS. II, 55 Bank St., White Plains/1515 Surf Ave., Brooklyn Posillico Inc. 631-249-1872 Joseph Posillico $548.6 $548.6 n/d n/d 12 | CRAIN’S1750 NEW New YORK Highway BUSINESS | July 26, 2021 posillicoinc.com President, chief executive +46.7% Triton Construction Co. 212-388-5700 Lance Franklin $336.1 $336.1 120 101 Lincoln Ave./1245 Broadway/550 Clinton Farmingdale, NY 11735 30 E. 33rd St. tritonconstruction.net Frank Reich +6.5% +6.5% St./Marymount School of New York 12 17 New York, NY 10016 Chief executives P012_P013_CN_20210726.inddIovino Enterprises 12 718-571-9599 Thomas Iovino $419.0 $419.0 258 WTC Port Authority Police Command Center/7/22/21 4:02 PM iovinoent.com Founder, chief executive +44.1% +35.4% Rutgers Tube Rehabilitation/Manhattan E.W. Howell Construction Group 516-921-7100 Howard Rowland $296.0 $296.0 163 South Nassau Communities Hospital - Central New York, NY 10020 Dechlorination Facility at Owls Head 245 Newtown Road ewhowell.com President, chief operating officer -1.5% -1.5% Utility Plant/PS-IS 419 school/PS 464 Trinity 13 Wastewater Treatment Plant/Brooklyn Bridge Plainview, NY 11803 Place school/Far Rockaway Branch Library approach arches and towers 18 Obayashi USA OHL USA Inc. 718-554-2320 Uday Durg $416.0 $3,457.5 n/d n/d 26-15 Ulmer St. ohlna.com Executive vice president +24.6% +4.1% Clune Construction 212-682-1789 Tommy Dwyer $280.4 $1,300.0 139 Confidential clients at 200 Park Ave./200 College Point, NY 11354 405 Lexington Ave. clunegc.com President, eastern region -22.8% -2.0% Liberty St./1633 Broadway/655 Howard St. 14 OHL USA Inc. 19 New York, NY 10174 Suffolk Construction 646-952-8000 Charlie Avolio $393.0 $3,645.0 129 Zero Irving at 124 East 14th St./640 1 Pennsylvania Plaza suffolk.com President, general manager of New York -2.0% -0.6% Columbia Red Hook Logistics at 640 Columbia Consigli Construction Co. Inc. 646-679-3500 Anthony Consigli $272.6 $1,742.1 154 Brookfield Properties, Greenpoint Landing, One New York, NY 10019 St./NYU College of Global Public Health at 333 Seventh Ave. consigli.com Chief executive -32.1% -1.9% Bell Slip and Two Blue Slip/Delancey St. 15 404 Lafayette and 308 Broadway New York, NY 10001 Matthew Consigli Associates, Essex Crossing, Site 4/Columbia 20 Consigli Building Group Inc. President Properties Trust, 799 Broadway LRC Construction LLC. 914-773-7700 Peter Palazzo $390.0 $435.0 140 Church & Division Phase I at 26 S. Division 7 Renaissance Square lrcbuild.com President +1.3% +1.2% St., New Rochelle/The Centre at Huguenot, 41 Kiewit Corp. 201-571-2500 Greg Hill $267.3 $12,467.8 525 n/d White Plains, NY 10601 Centre Ave., New Rochelle/Continuum Phase 470 Chestnut Ridge Road kiewit.com Senior vice president -8.6% +21.0% 16 II, 55 Bank St., White Plains/1515 Surf Ave., 21 Woodcliff Lake, NJ 07677 Brooklyn

Triton Construction Co. 212-388-5700 Lance Franklin $336.1 $336.1 120 101 Lincoln Ave./1245 Broadway/550 Clinton Hudson Meridian Construction Group 212-608-6600 Peter Monte $240.1 $240.1 113 2401 3rd Ave., Bronx/468 Columbus 30 E. 33rd St. tritonconstruction.net Frank Reich +6.5% +6.5% St./Marymount School of New York 61 Broadway hudsonmeridian.com President, chief operating officer -32.3% -32.3% Ave./587 Main St., New Rochelle New York, NY 10016 Chief executives New York, NY 10006 William Cote 17 22 Founder, chief executive

E.W. Howell Construction Group 516-921-7100 Howard Rowland $296.0 $296.0 163 South Nassau Communities Hospital - Central Schimenti Construction Company 212-246-9100 Matthew Schimenti $214.0 $261.0 130 Target, 139 Flatbush Ave./ George Comfort & 245 Newtown Road ewhowell.com President, chief operating officer -1.5% -1.5% Utility Plant/PS-IS 419 school/PS 464 Trinity 575 Lexington Ave. schimenti.com President -22.2% -11.5% Sons building repositioning, 63 Madison Plainview, NY 11803 Place school/Far Rockaway Branch Library New York, NY 10022 James Harrison Ave./Citizens Food Hall, 450 W 33rd St./CUNY 18 Obayashi USA 23 Vice President, development in the Heights, 5030 Broadway

Clune Construction 212-682-1789 Tommy Dwyer $280.4 $1,300.0 139 Confidential clients at 200 Park Ave./200 Leon D. DeMatteis Construction Corp. 516-285-5500 Richard DeMatteis $213.0 3 $213.0 3 122 n/d 405 Lexington Ave. clunegc.com President, eastern region -22.8% -2.0% Liberty St./1633 Broadway/655 Howard St. 820 Elmont Road dematteisorg.com President -20.8% -20.8% New York, NY 10174 Elmont, NY 11003 Scott DeMatteis 19 24 Principal

Consigli Construction Co. Inc. 646-679-3500 Anthony Consigli $272.6 $1,742.1 154 Brookfield Properties, Greenpoint Landing, One Shawmut Design and Construction 212-920-8900 Les Hiscoe $164.5 $1,234.7 n/d Le Pavillon by Chef Daniel Boulud, One 333 Seventh Ave. consigli.com Chief executive -32.1% -1.9% Bell Slip and Two Blue Slip/Delancey St. 3 E. 54th St. shawmut.com Chief executive -47.6% -16.8% Vanderbilt/Parker New York hotel infrastructure New York, NY 10001 Matthew Consigli Associates, Essex Crossing, Site 4/Columbia New York, NY 10022 David Margolius upgrade 20 Consigli Building Group Inc. President Properties Trust, 799 Broadway 25 Executive vice president

Kiewit Corp. 201-571-2500 Greg Hill $267.3 $12,467.8 525 n/d 470 Chestnut Ridge Road kiewit.com Senior vice president -8.6% +21.0% NewNew YorkYork areaareaincludes the five boroughs of New York City and Nassau, Suffolk and Westchester counties in New York and Bergen, Essex, Hudson and Union counties in New Jersey. Crain's uses staff research, extensive surveys and the most current Woodcliff Lake, NJ 07677 references available, but there is no guarantee that these listings are complete. To qualify for this list, a construction company must have a New York–area office and must build projects in the area. All information was supplied by the companies 21 unless otherwise noted. In the case of a tie, companies are ranked alphabetically. n/d-Not disclosed. 1--Full-time and full-time-equivalent only. 2--Selected projects and clients for active or recently completed work in the New York area. 3--Figure is a projection from 2019 Hudson Meridian Construction Group 212-608-6600 Peter Monte $240.1 $240.1 113 2401 3rd Ave., Bronx/468 Columbus 61 Broadway hudsonmeridian.com President, chief operating officer -32.3% -32.3% Ave./587 Main St., New Rochelle New York, NY 10006 William Cote 22 Founder, chief executive

Schimenti Construction Company 212-246-9100 Matthew Schimenti $214.0 $261.0 130 Target, 139 Flatbush Ave./ George Comfort & 575 Lexington Ave. schimenti.com President -22.2% -11.5% Sons building repositioning, 63 Madison New York, NY 10022 James Harrison Ave./Citizens Food Hall, 450 W 33rd St./CUNY 23 Vice President, development in the Heights, 5030 Broadway

Leon D. DeMatteis Construction Corp. 516-285-5500 Richard DeMatteis $213.0 3 $213.0 3 122 n/d 820 Elmont Road dematteisorg.com President -20.8% -20.8% Elmont, NY 11003 Scott DeMatteis 24 Principal

Shawmut Design and Construction 212-920-8900 Les Hiscoe $164.5 $1,234.7 n/d Le Pavillon by Chef Daniel Boulud, One 3 E. 54th St. shawmut.com Chief executive -47.6% -16.8% Vanderbilt/Parker New York hotel infrastructure New York, NY 10022 David Margolius upgrade 25 Executive vice president

NewNew YorkYork areaareaincludes the five boroughs of New York City and Nassau, Suffolk and Westchester counties in New York and Bergen, Essex, Hudson and Union counties in New Jersey. Crain's uses staff research, extensive surveys and the most current references available, but there is no guarantee that these listings are complete. To qualify for this list, a construction company must have a New York–area office and must build projects in the area. All information was supplied by the companies unless otherwise noted. In the case of a tie, companies are ranked alphabetically. n/d-Not disclosed. 1--Full-time and full-time-equivalent only. 2--Selected projects and clients for active or recently completed work in the New York area. 3--Figure is a projection from 2019 2020 2020 NEW YORK–AREA COMPANYWIDE REVENUE (IN REVENUE (IN COMPANY/ MILLIONS)/ MILLIONS)/ 2020 ADDRESS/ PHONE NUMBER/ % CHANGE VS. % CHANGE VS. NEW YORK–AREA RANK PARENT COMPANY WEBSITE HEAD(S) OF NEW YORK OFFICE 2019 2019 EMPLOYEES 1 KEY PROJECTS/CLIENTS 2

Turner Construction Co. 212-229-6000 Charles Murphy $2,600.0 $14,000.0 1,628 n/d 375 Hudson St. turnerconstruction.com Senior vice president, general manager +1.1% -5.4% New York, NY 10014 Pat Di Filippo 1 Turner Corp. Executive vice president

AECOM Tishman 212-708-6800 Jay Badame $2,572.5 $6,569.0 775 One Vanderbilt/JPMorgan Chase, 270 Park 100 Park Ave. aecomtishman.com President, chief operating officer -25.2% +58.3% Ave. New York, NY 10017 2 AECOM

Structure Tone/Pavarini McGovern 212-481-6100 Michael Neary $2,366.6 $8,080.0 841 Pfizer Headquarters/TSX Broadway/Facebook/ 330 W. 34th St. structuretone.com President, Structure Tone +21.6% +2.4% Google Pier 57 New York, NY 10001 Eric McGovern 3 STO Building Group President, chief executive, Pavarini McGovern

Tutor Perini Corp. 914-739-1908 Henry Cheung $2,066.7 $5,318.8 391 Newark Airport Terminal One/CM007 GCT 1000 Main St. tutorperini.com President, Civil East +9.6% +19.5% Station Caverns and Track for East Side Access New Rochelle, NY 10801 Project (MTA Capital Construction)/Baruch 4 Houses

Skanska USA 917-438-4500 Michael Viggiano $1,511.0 $17,200.0 2,500 Moynihan Train Hall/LaGuardia Terminal B 350 Fifth Ave. usa.skanska.com Executive vice president -26.9% -8.0% redevelopment/Hunts Point/Penn Station 33rd New York, NY 10118 Tom Webb St. Access 5 Skanska AB General manager, executive vice president

Lendlease (US) Construction LMB Inc. 212-592-6700 Steven Sommer $1,351.6 $4,673.8 549 Central Park Tower, 217 W. 57th St./Jacob K. 200 Park Ave. lendlease.com Executive general manager, president -19.2% -44.7% Javits Convention Center Expansion, 655 W. New York, NY 10166 34th St./The Ritz-Carlton NoMad/NewYork- 6 Lendlease Corp. Presbyterian Brooklyn Methodist Hospital

Gilbane Building Company 212-312-1600 Grant Gagnier $1,304.9 $6,500.0 468 Crown Building, 730 Fifth Ave./Made in NY 88 Pine St. gilbaneco.com Senior vice president, NYC +5.3% +3.2% Campus at Bush Terminal/The New York Public New York, NY 10005 Library, Carnegie Libraries 7 Gilbane Inc.

J.T. Magen & Company Inc. 212-790-4200 Maurice Regan $1,200.5 $1,391.1 417 Facebook/BlackRock/TikTok/Uber 44 W. 28th St. jtmagen.com President -4.2% +0.9% New York, NY 10001 Steven Mount 8 Chief financial officer, treasurer

Tully Construction Co. 718-446-7000 Peter Tully $1,050.0 n/d n/d n/d 127-50 Northern Blvd. tullygroup.us President 9 Flushing, NY 11368

Hunter Roberts Construction Group 212-321-6800 James McKenna $874.0 $1,001.0 303 Sunset Industrial Park, FedEx package 55 Water St. hrcg.com President, chief executive -6.0% -14.1% distribution building and bulkhead work/Little New York, NY 10041 Island, Pier 55/The Durst Organization, 10 HR Holdings Queens Plaza Park/RXR Realty, Long Island University residential tower OPTIMISM AHEAD 2020 2020 NEW YORK–AREA COMPANYWIDE Eight companies on the list who reported 2021 projections anticipate higher revenue JRM Construction Management 212-545-0500 David McWilliams $660.0 n/d 360 Peloton headquarters and studios/Latham & 242 W. 36th St. jrmcm.com Chief executive REVENUE-20.0% (IN REVENUE (IN Watkins headquarters/Taconic Partners 125 figures than the year before. Last year, four companies on the list expected their NewCOMPANY/ York, NY 10018 Joseph Romano MILLIONS)/ MILLIONS)/ 2020 West End Ave. life science building revenue to drop by more than 20%. ADDRESS/ PHONE NUMBER/ % CHANGE VS. % CHANGE VS. NEW YORK–AREA 11RANK PARENT COMPANY WEBSITE PresidentHEAD(S) OF NEW YORK OFFICE 2019 2019 EMPLOYEES 1 KEY PROJECTS/CLIENTS 2 Projected growth in 2021 New York-area revenue TurnerPosillico Construction Inc. Co. 212-229-6000631-249-1872 CharlesJoseph Posillico Murphy $2,600.0$548.6 $14,000.0$548.6 1,628n/d n/d 3751750 Hudson New Highway St. turnerconstruction.composillicoinc.com SeniorPresident, vice chief president, executive general manager +1.1% +46.7%-5.4% NewFarmingdale, York, NY 10014NY 11735 Pat Di Filippo 112 Turner Corp. Executive vice president

AECOMIovino Enterprises Tishman 212-708-6800718-571-9599 JayThomas Badame Iovino $2,572.5$419.0 $6,569.0$419.0 775258 OneWTC Vanderbilt/JPMorganPort Authority Police CommandChase, 270 Center/ Park 1001 Rockefeller Park Ave. Plaza aecomtishman.comiovinoent.com President,Founder, chief chief executive operating officer +44.1%-25.2% +58.3%+35.4% Ave.Rutgers Tube Rehabilitation/Manhattan New York, NY 1001710020 Dechlorination Facility at Owls Head 213 AECOM Wastewater Treatment Plant/Brooklyn Bridge approach arches and towers Structure Tone/Pavarini McGovern 212-481-6100 Michael Neary $2,366.6 $8,080.0 841 Pfizer Headquarters/TSX Broadway/Facebook/ OHL USA Inc. 718-554-2320 Uday Durg $416.0 $3,457.5 n/d n/d 330 W. 34th St. structuretone.com President, Structure Tone +21.6% +2.4% Google Pier 57 26-15 Ulmer St. ohlna.com Executive vice president +24.6% +4.1% New York, NY 10001 Eric McGovern College Point, NY 11354 STO Building Group President, chief executive, Pavarini 314 OHL USA Inc. McGovern

TutorSuffolk Perini Construction Corp. 914-739-1908646-952-8000 HenryCharlie Cheung Avolio $2,066.7$393.0 $5,318.8$3,645.0 391129 NewarkZero Irving Airport at 124 Terminal East 14thOne/CM007 St./640 GCT 30% 10001 Pennsylvania Main St. Plaza tutorperini.comsuffolk.com President, Civilgeneral East manager of New York +9.6%-2.0% +19.5%-0.6% StationColumbia Caverns Red Hook and LogisticsTrack for Eastat 640 Side Columbia Access New Rochelle,York, NY 10019 NY 10801 ProjectSt./NYU (MTA College Capital of Global Construction)/Baruch Public Health at 415 Houses404 Lafayette and 308 Broadway 2020 2020 NEW YORK–AREA COMPANYWIDE REVENUE (IN REVENUE (IN SkanskaLRC Construction USA LLC. 917-438-4500914-773-7700 MichaelPeter Palazzo Viggiano $1,511.0$390.0 $17,200.0$435.0 2,500140 MoynihanChurch & DivisionTrain Hall/LaGuardia Phase I at 26 Terminal S. Division B COMPANY/ MILLIONS)/ MILLIONS)/ 2020 3507 Renaissance Fifth Ave. Square usa.skanska.comlrcbuild.com ExecutivePresident vice president -26.9%+1.3% +1.2%-8.0% redevelopment/HuntsSt., New Rochelle/The Point/PennCentre at Huguenot, Station 33rd 41 ADDRESS/ PHONE NUMBER/ % CHANGE VS. % CHANGE VS. NEW YORK–AREA NewWhite York, Plains, NY 10118NY 10601 Tom Webb St.Centre Access Ave., New Rochelle/Continuum Phase 1 2 RANK PARENT COMPANY WEBSITE HEAD(S) OF NEW YORK OFFICE 2019 2019 EMPLOYEES KEY PROJECTS/CLIENTS 516 Skanska AB General manager, executive vice president II, 55 Bank St., White Plains/1515 Surf Ave., Brooklyn Turner Construction Co. 212-229-6000 Charles Murphy $2,600.0 $14,000.0 1,628 n/d Lendlease (US) Construction LMB Inc. 212-592-6700 Steven Sommer $1,351.6 $4,673.8 549 Central Park Tower, 217 W. 57th St./Jacob K. 375 Hudson St. turnerconstruction.com Senior vice president, general manager +1.1% -5.4% Triton Construction Co. 212-388-5700 Lance Franklin $336.1 $336.1 120 101 Lincoln Ave./1245 Broadway/550 Clinton 200 Park Ave. lendlease.com Executive general manager, president -19.2% -44.7% Javits Convention Center Expansion, 655 W. New York, NY 10014 Pat Di Filippo 30 E. 33rd St. tritonconstruction.net Frank Reich +6.5% +6.5% St./Marymount School of New York New York, NY 10166 34th St./The Ritz-Carlton NoMad/NewYork- 1 Turner Corp. Executive vice president New York, NY 10016 Chief executives 617 Lendlease Corp. Presbyterian Brooklyn Methodist Hospital AECOM Tishman 212-708-6800 Jay Badame $2,572.5 $6,569.0 775 One Vanderbilt/JPMorgan Chase, 270 Park Gilbane Building Company 212-312-1600 Grant Gagnier $1,304.9 $6,500.0 468 Crown Building, 730 Fifth Ave./Made in NY 100 Park Ave. aecomtishman.com President, chief operating officer -25.2% +58.3% Ave. E.W. Howell Construction Group 516-921-7100 Howard Rowland $296.0 $296.0 163 South Nassau Communities Hospital - Central 88 Pine St. gilbaneco.com Senior vice president, NYC +5.3% +3.2% Campus at Bush Terminal/The New York Public New York, NY 10017 245 Newtown Road ewhowell.com President, chief operating officer -1.5% -1.5% Utility Plant/PS-IS 419 school/PS 464 Trinity New York, NY 10005 Library, Carnegie Libraries 2 AECOM Plainview, NY 11803 Place school/Far Rockaway Branch Library Gilbane Inc. 718 Obayashi USA Structure Tone/Pavarini McGovern 212-481-6100 Michael Neary $2,366.6 $8,080.0 841 Pfizer Headquarters/TSX Broadway/Facebook/ J.T. Magen & Company Inc. 212-790-4200 Maurice Regan $1,200.5 $1,391.1 417 Facebook/BlackRock/TikTok/Uber 330 W. 34th St. structuretone.com President, Structure Tone +21.6% +2.4% Google Pier 57 Clune Construction 212-682-1789 Tommy Dwyer $280.4 $1,300.0 139 Confidential clients at 200 Park Ave./200 44 W. 28th St. jtmagen.com President -4.2% +0.9% New York, NY 10001 Eric McGovern 405 Lexington Ave. clunegc.com President, eastern region -22.8% -2.0% Liberty St./1633 Broadway/655 Howard St. New York, NY 10001 Steven Mount 3 STO Building Group President, chief executive, Pavarini New York, NY 10174 McGovern 819 Chief financial officer, treasurer Tutor Perini Corp. 914-739-1908 Henry Cheung $2,066.7 $5,318.8 391 Newark Airport Terminal One/CM007 GCT Tully Construction Co. 718-446-7000 Peter Tully $1,050.0 n/d n/d n/d Consigli Construction Co. Inc. 646-679-3500 Anthony Consigli $272.6 $1,742.1 154 Brookfield Properties, Greenpoint Landing, One 1000 Main St. tutorperini.com President, Civil East +9.6% +19.5% Station Caverns and Track for East Side Access 127-50 Northern Blvd. tullygroup.us President 333 Seventh Ave. consigli.com Chief executive -32.1% -1.9% Bell Slip and Two Blue Slip/Delancey St. New Rochelle, NY 10801 Project (MTA Capital Construction)/Baruch Flushing, NY 11368 4 Houses New York, NY 10001 Matthew Consigli Associates, Essex Crossing, Site 4/Columbia 920 Consigli Building Group Inc. President Properties Trust, 799 Broadway Skanska USA 917-438-4500 Michael Viggiano $1,511.0 $17,200.0 2,500 Moynihan Train Hall/LaGuardia Terminal B Hunter Roberts Construction Group 212-321-6800 James McKenna $874.0 $1,001.0 303 Sunset Industrial Park, FedEx package Kiewit Corp. 201-571-2500 Greg Hill $267.3 $12,467.8 525 n/d 350 Fifth Ave. usa.skanska.com Executive vice president -26.9% -8.0% redevelopment/Hunts Point/Penn Station 33rd 55 Water St. hrcg.com President, chief executive -6.0% -14.1% distribution building and bulkhead work/Little 470 Chestnut Ridge Road kiewit.com Senior vice president -8.6% +21.0% New York, NY 10118 Tom Webb St. Access New York, NY 10041 Island, Pier 55/The Durst Organization, Woodcliff Lake, NJ 07677 5 Skanska AB General manager, executive vice president 1021 HR Holdings Queens Plaza Park/RXR Realty, Long Island University residential tower Lendlease (US) Construction LMB Inc. 212-592-6700 Steven Sommer $1,351.6 $4,673.8 549 Central Park Tower, 217 W. 57th St./Jacob K. 200 Park Ave. lendlease.com Executive general manager, president -19.2% -44.7% Javits Convention Center Expansion, 655 W. JRMHudson Construction Meridian ConstructionManagement Group 212-545-0500212-608-6600 DavidPeter Monte McWilliams $660.0$240.1 $240.1n/d 360113 Peloton2401 3rd headquarters Ave., Bronx/468 and studios/Latham Columbus & New York, NY 10166 34th St./The Ritz-Carlton NoMad/NewYork- 24261 Broadway W. 36th St. jrmcm.comhudsonmeridian.com ChiefPresident, executive chief operating officer -20.0%-32.3% -32.3% WatkinsAve./587 headquarters/Taconic Main St., New Rochelle Partners 125 6 Lendlease Corp. Presbyterian Brooklyn Methodist Hospital New York, NY 1001810006 JosephWilliam Romano Cote West End Ave. life science building 1122 PresidentFounder, chief executive Gilbane Building Company 212-312-1600 Grant Gagnier $1,304.9 $6,500.0 468 Crown Building, 730 Fifth Ave./Made in NY 88 Pine St. gilbaneco.com Senior vice president, NYC +5.3% +3.2% Campus at Bush Terminal/The New York Public PosillicoSchimenti Inc. Construction Company 631-249-1872212-246-9100 JosephMatthew Posillico Schimenti $548.6$214.0 $548.6$261.0 130n/d n/dTarget, 139 Flatbush Ave./ George Comfort & New York, NY 10005 Library, Carnegie Libraries 1750575 Lexington New Highway Ave. posillicoinc.comschimenti.com President,President chief executive -22.2% +46.7%-11.5% Sons building repositioning, 63 Madison 7 Gilbane Inc. Farmingdale,New York, NY NY10022 11735 James Harrison Ave./Citizens Food Hall, 450 W 33rd St./CUNY 1223 Vice President, development in the Heights, 5030 Broadway

J.T. Magen & Company Inc. 212-790-4200 Maurice Regan $1,200.5 $1,391.1 417 Facebook/BlackRock/TikTok/Uber 3 3 44 W. 28th St. jtmagen.com President -4.2% +0.9% IovinoLeon D. Enterprises DeMatteis Construction Corp. 718-571-9599516-285-5500 ThomasRichard IovinoDeMatteis $419.0$213.0 $419.0$213.0 258122 WTCn/d Port Authority Police Command Center/ New York, NY 10001 Steven Mount 1820 Rockefeller Elmont Road Plaza iovinoent.comdematteisorg.com Founder,President chief executive +44.1%-20.8% +35.4%-20.8% Rutgers Tube Rehabilitation/Manhattan 8 Chief financial officer, treasurer NewElmont, York, NY NY 11003 10020 Scott DeMatteis Dechlorination Facility at Owls Head 1324 Principal Wastewater Treatment Plant/Brooklyn Bridge approach arches and towers Tully Construction Co. 718-446-7000 Peter Tully $1,050.0 n/d n/d n/d Shawmut Design and Construction 212-920-8900 Les Hiscoe $164.5 $1,234.7 n/d Le Pavillon by Chef Daniel Boulud, One 127-50 Northern Blvd. tullygroup.us President OHL USA Inc. 718-554-2320 Uday Durg $416.0 $3,457.5 n/d n/d 3 E. 54th St. shawmut.com Chief executive -47.6% -16.8% Vanderbilt/Parker New York hotel infrastructure Flushing, NY 11368 26-15 Ulmer St. ohlna.com Executive vice president +24.6% +4.1% New York, NY 10022 David Margolius upgrade 9 College Point, NY 11354 Executive vice president 1425 OHL USA Inc. Hunter Roberts Construction Group 212-321-6800 James McKenna $874.0 $1,001.0 303 Sunset Industrial Park, FedEx package 55 Water St. hrcg.com President, chief executive -6.0% -14.1% distribution building and bulkhead work/Little Suffolk Construction 646-952-8000 Charlie Avolio $393.0 $3,645.0 129 Zero Irving at 124 East 14th St./640 New York, NY 10041 Island, Pier 55/The Durst Organization, NewNew YorkYork areaareaincludes1 Pennsylvania the Plaza five boroughs of New York City andsuffolk.com Nassau, Suffolk and WestchesterPresident, counties generalin Newmanager York andof NewBergen, York Essex, Hudson and-2.0% Union counties in New-0.6% Jersey. Crain's uses staffColumbia research, extensiveRed Hooksurveys Logisticsand at the640 most Columbia current 10 HR Holdings Queens Plaza Park/RXR Realty, Long Island references available,New York,but NY 10019there is no guarantee that these listings are complete. To qualify for this list, a construction company must have a New York–area office and must build projects in the area.St./NYU All information College of was Globalsupplied Public by Healththe companies at 1 2 3 University residential tower 15unless otherwise noted. In the case of a tie, companies are ranked alphabetically. n/d-Not disclosed. --Full-time and full-time-equivalent only. --Selected projects and clients for active or recently completed404 Lafayettework and in the 308New Broadway York area. --Figure is a projection from 2019 JRM Construction Management 212-545-0500 David McWilliams $660.0 n/d 360 Peloton headquarters and studios/Latham & 242 W. 36th St. jrmcm.com Chief executive -20.0% Watkins headquarters/Taconic Partners 125 LRC Construction LLC. 914-773-7700 Peter Palazzo $390.0 $435.0 140 Church & Division Phase I at 26 S. Division New York, NY 10018 Joseph Romano West End Ave. life science building 7 Renaissance Square lrcbuild.com President +1.3% +1.2% St., New Rochelle/The Centre at Huguenot, 41 11 President White Plains, NY 10601 Centre Ave., New Rochelle/Continuum Phase 16 WANT MORE OF CRAIN’S EXCLUSIVE DATA? VISIT CRAINSNEWYORK.COM/LISTS. II, 55 Bank St., White Plains/1515 Surf Ave., Brooklyn Posillico Inc. 631-249-1872 Joseph Posillico $548.6 $548.6 n/d n/d 1750 New Highway posillicoinc.com President, chief executive +46.7% Triton Construction Co. 212-388-5700 Lance Franklin $336.1 $336.1 July120 26, 101 2021 Lincoln | CRAIN’S Ave./1245 NEW Broadway/550 YORK BUSINESS Clinton | 13 Farmingdale, NY 11735 30 E. 33rd St. tritonconstruction.net Frank Reich +6.5% +6.5% St./Marymount School of New York 12 17 New York, NY 10016 Chief executives Iovino Enterprises 718-571-9599 Thomas Iovino $419.0 $419.0 258 WTC Port Authority Police Command Center/ P012_P013_CN_20210726.indd 13 7/22/21 4:02 PM 1 Rockefeller Plaza iovinoent.com Founder, chief executive +44.1% +35.4% Rutgers Tube Rehabilitation/Manhattan E.W. Howell Construction Group 516-921-7100 Howard Rowland $296.0 $296.0 163 South Nassau Communities Hospital - Central New York, NY 10020 Dechlorination Facility at Owls Head 245 Newtown Road ewhowell.com President, chief operating officer -1.5% -1.5% Utility Plant/PS-IS 419 school/PS 464 Trinity 13 Wastewater Treatment Plant/Brooklyn Bridge Plainview, NY 11803 Place school/Far Rockaway Branch Library approach arches and towers 18 Obayashi USA OHL USA Inc. 718-554-2320 Uday Durg $416.0 $3,457.5 n/d n/d 26-15 Ulmer St. ohlna.com Executive vice president +24.6% +4.1% Clune Construction 212-682-1789 Tommy Dwyer $280.4 $1,300.0 139 Confidential clients at 200 Park Ave./200 College Point, NY 11354 405 Lexington Ave. clunegc.com President, eastern region -22.8% -2.0% Liberty St./1633 Broadway/655 Howard St. 14 OHL USA Inc. 19 New York, NY 10174 Suffolk Construction 646-952-8000 Charlie Avolio $393.0 $3,645.0 129 Zero Irving at 124 East 14th St./640 1 Pennsylvania Plaza suffolk.com President, general manager of New York -2.0% -0.6% Columbia Red Hook Logistics at 640 Columbia Consigli Construction Co. Inc. 646-679-3500 Anthony Consigli $272.6 $1,742.1 154 Brookfield Properties, Greenpoint Landing, One New York, NY 10019 St./NYU College of Global Public Health at 333 Seventh Ave. consigli.com Chief executive -32.1% -1.9% Bell Slip and Two Blue Slip/Delancey St. 15 404 Lafayette and 308 Broadway New York, NY 10001 Matthew Consigli Associates, Essex Crossing, Site 4/Columbia 20 Consigli Building Group Inc. President Properties Trust, 799 Broadway LRC Construction LLC. 914-773-7700 Peter Palazzo $390.0 $435.0 140 Church & Division Phase I at 26 S. Division 7 Renaissance Square lrcbuild.com President +1.3% +1.2% St., New Rochelle/The Centre at Huguenot, 41 Kiewit Corp. 201-571-2500 Greg Hill $267.3 $12,467.8 525 n/d White Plains, NY 10601 Centre Ave., New Rochelle/Continuum Phase 470 Chestnut Ridge Road kiewit.com Senior vice president -8.6% +21.0% 16 II, 55 Bank St., White Plains/1515 Surf Ave., 21 Woodcliff Lake, NJ 07677 Brooklyn

Triton Construction Co. 212-388-5700 Lance Franklin $336.1 $336.1 120 101 Lincoln Ave./1245 Broadway/550 Clinton Hudson Meridian Construction Group 212-608-6600 Peter Monte $240.1 $240.1 113 2401 3rd Ave., Bronx/468 Columbus 30 E. 33rd St. tritonconstruction.net Frank Reich +6.5% +6.5% St./Marymount School of New York 61 Broadway hudsonmeridian.com President, chief operating officer -32.3% -32.3% Ave./587 Main St., New Rochelle New York, NY 10016 Chief executives New York, NY 10006 William Cote 17 22 Founder, chief executive

E.W. Howell Construction Group 516-921-7100 Howard Rowland $296.0 $296.0 163 South Nassau Communities Hospital - Central Schimenti Construction Company 212-246-9100 Matthew Schimenti $214.0 $261.0 130 Target, 139 Flatbush Ave./ George Comfort & 245 Newtown Road ewhowell.com President, chief operating officer -1.5% -1.5% Utility Plant/PS-IS 419 school/PS 464 Trinity 575 Lexington Ave. schimenti.com President -22.2% -11.5% Sons building repositioning, 63 Madison Plainview, NY 11803 Place school/Far Rockaway Branch Library New York, NY 10022 James Harrison Ave./Citizens Food Hall, 450 W 33rd St./CUNY 18 Obayashi USA 23 Vice President, development in the Heights, 5030 Broadway

Clune Construction 212-682-1789 Tommy Dwyer $280.4 $1,300.0 139 Confidential clients at 200 Park Ave./200 Leon D. DeMatteis Construction Corp. 516-285-5500 Richard DeMatteis $213.0 3 $213.0 3 122 n/d 405 Lexington Ave. clunegc.com President, eastern region -22.8% -2.0% Liberty St./1633 Broadway/655 Howard St. 820 Elmont Road dematteisorg.com President -20.8% -20.8% New York, NY 10174 Elmont, NY 11003 Scott DeMatteis 19 24 Principal

Consigli Construction Co. Inc. 646-679-3500 Anthony Consigli $272.6 $1,742.1 154 Brookfield Properties, Greenpoint Landing, One Shawmut Design and Construction 212-920-8900 Les Hiscoe $164.5 $1,234.7 n/d Le Pavillon by Chef Daniel Boulud, One 333 Seventh Ave. consigli.com Chief executive -32.1% -1.9% Bell Slip and Two Blue Slip/Delancey St. 3 E. 54th St. shawmut.com Chief executive -47.6% -16.8% Vanderbilt/Parker New York hotel infrastructure New York, NY 10001 Matthew Consigli Associates, Essex Crossing, Site 4/Columbia New York, NY 10022 David Margolius upgrade 20 Consigli Building Group Inc. President Properties Trust, 799 Broadway 25 Executive vice president

Kiewit Corp. 201-571-2500 Greg Hill $267.3 $12,467.8 525 n/d 470 Chestnut Ridge Road kiewit.com Senior vice president -8.6% +21.0% NewNew YorkYork areaareaincludes the five boroughs of New York City and Nassau, Suffolk and Westchester counties in New York and Bergen, Essex, Hudson and Union counties in New Jersey. Crain's uses staff research, extensive surveys and the most current Woodcliff Lake, NJ 07677 references available, but there is no guarantee that these listings are complete. To qualify for this list, a construction company must have a New York–area office and must build projects in the area. All information was supplied by the companies 21 unless otherwise noted. In the case of a tie, companies are ranked alphabetically. n/d-Not disclosed. 1--Full-time and full-time-equivalent only. 2--Selected projects and clients for active or recently completed work in the New York area. 3--Figure is a projection from 2019 Hudson Meridian Construction Group 212-608-6600 Peter Monte $240.1 $240.1 113 2401 3rd Ave., Bronx/468 Columbus 61 Broadway hudsonmeridian.com President, chief operating officer -32.3% -32.3% Ave./587 Main St., New Rochelle New York, NY 10006 William Cote 22 Founder, chief executive

Schimenti Construction Company 212-246-9100 Matthew Schimenti $214.0 $261.0 130 Target, 139 Flatbush Ave./ George Comfort & 575 Lexington Ave. schimenti.com President -22.2% -11.5% Sons building repositioning, 63 Madison New York, NY 10022 James Harrison Ave./Citizens Food Hall, 450 W 33rd St./CUNY 23 Vice President, development in the Heights, 5030 Broadway

Leon D. DeMatteis Construction Corp. 516-285-5500 Richard DeMatteis $213.0 3 $213.0 3 122 n/d 820 Elmont Road dematteisorg.com President -20.8% -20.8% Elmont, NY 11003 Scott DeMatteis 24 Principal

Shawmut Design and Construction 212-920-8900 Les Hiscoe $164.5 $1,234.7 n/d Le Pavillon by Chef Daniel Boulud, One 3 E. 54th St. shawmut.com Chief executive -47.6% -16.8% Vanderbilt/Parker New York hotel infrastructure New York, NY 10022 David Margolius upgrade 25 Executive vice president

NewNew YorkYork areaareaincludes the five boroughs of New York City and Nassau, Suffolk and Westchester counties in New York and Bergen, Essex, Hudson and Union counties in New Jersey. Crain's uses staff research, extensive surveys and the most current references available, but there is no guarantee that these listings are complete. To qualify for this list, a construction company must have a New York–area office and must build projects in the area. All information was supplied by the companies unless otherwise noted. In the case of a tie, companies are ranked alphabetically. n/d-Not disclosed. 1--Full-time and full-time-equivalent only. 2--Selected projects and clients for active or recently completed work in the New York area. 3--Figure is a projection from 2019 POLITICS Key players in Eric Adams’ inner circle

BY BRIAN PASCUS ith Gracie Mansion well within his grasp, Brooklyn Borough President Eric Adams plans to fall back on a team of loyalists who have been with him for de- Wcades to form the core of his mayoral administration. As he prepares for the general election in November, he is leaning into the same relationships that paved his way into Borough Hall. Here are the players who likely will be pulling the strings of city government after Mayor Bill de Blasio leaves office.

Ingrid Lewis-Martin party attorney, Carone was presi- Perhaps no individual is closer to dent of the Brooklyn Bar Associa- the Democratic nominee than Lew- tion and was a member of the Taxi is-Martin, the deputy Brooklyn bor- and Limousine Commission for six ough president. Her professional years. relationship with Adams goes back Although he had deep roots in to the days when he first ran for the the Brooklyn Democratic Party, he state Senate in 2006. She served as has viewed his relationship with his chief of staff for seven years in Adams as an adviser who gives ad-

Albany before serving five years as vice when asked and who can bring BUCK ENNIS a senior adviser to him in Brooklyn. years of experience in Brooklyn Due to her long tenure working politics to the table. handled policy and media relations the office’s chief compliance -offi woman from the 42nd District, alongside him, Lewis-Martin has “We’re longtime friends, since the during the primary. He was instru- cer. Adams brought her back on which encompasses much of cen- been characterized as the gate- mid-2000s, and we’ll be friends be- mental in crafting Adams’ 40-page board after she left in 2017 during tral Brooklyn, Bichotte Hermelyn is keeper to Adams’ personal and po- yond this,” said Carone, who added “100+ Steps Forward” policy initia- her failed bid for Brooklyn district also the Brooklyn Democratic Party litical realms. that before the primary election, he tive. attorney. chairwoman, having been hand- “Ingrid is very passionate and told someone, “I’ll support Eric win “These are Eric’s ideas during the picked by Seddio last year. She en- very loyal to those she loves and re- or lose, and no matter what, we’ll campaign,” Thies said. “One of my dorsed Adams for mayor while spects,” said Frank Carone, Adams’ still always go out to dinner and jobs was coordinating policy dis- Diana Reyna county party officials were holding personal attorney. “She’s a soldier have a glass of wine together.” cussion and putting that into pro- Described by Adams as “a vision- off on a formal endorsement. Her who stays in her lane and is fiercely posal form.” ary,” Reyna worked beside Adams husband’s political consulting loyal to what she believes and the from 2014 to 2018 as deputy bor- group was retained by Adams mission she sets out to accomplish.” Nathan Smith ough president. Before that, she during the campaign for at least As a founding partner of Red Horse Ryan Lynch spent 12 years on the City Council $21,000. Strategies, a progressive political As Adams’ chief of staff at Brooklyn representing Bushwick, Williams- Frank Carone consulting firm, Smith worked Borough Hall, Lynch is expected to burg and Ridgewood. As both the top attorney for the closely with Adams’ brain trust remain close to the Democratic Ydanis Rodríguez Brooklyn Democratic Party and Ad- during the primary to strategize nominee if he moves into Gracie A councilman from Upper Manhat- ams’ personal attorney, Carone is and respond to attacks from An- Mansion. Laurie Cumbo tan, Rodríguez endorsed Adams for one of the rare individuals in Ad- drew Yang, Maya Wiley and other The uto going City Council majority mayor in December. He could be ams’ orbit who harks back to a time opponents. leader, Cumbo has represented an ally on future transportation when Brooklyn politics was a true Smith worked on de Blasio’s suc- Stefan Ringel Brooklyn’s sprawling 35th District policy given his role as chairman of insider’s game. A partner at Abrams cessful 2009 public advocate cam- Ringel is another staff member at since 2013. She was beside Adams the City Council’s transportation Fensterman, Carone is also an ally paign and directed the mayor’s is- Borough Hall, where he serves as a when he announced his run for committee. Rodríguez is also au- of de Blasio and Frank Seddio, sue advocacy campaigns in 2015. senior adviser to Adams and previ- mayor in November and is expect- thor of the Taxi Medallion Task Brooklyn Democratic Party chair He also worked to elect Reps. Grace ously worked as his communica- ed to be brought into the adminis- Force report. from 2012 to 2020. Meng and Gregory Meeks of tions director. Ringel was an instru- tration if he wins the general elec- “Carone is basically an extension Queens. mental member of Adams’ tion. She has gotten into trouble for of Seddio,” said Theodore Hamm, successful primary campaign. anti-Semitic and anti-Asian com- Rabbi Abe Friedman journalism professor at St. Joseph’s ments. A power broker in Brooklyn’s large College. “Carone has never been Evan Thies Hasidic and Orthodox Jewish com- the official county boss, but he’s A political consultant who founded Ama Dwimoh munities, Friedman served as Ad- certainly been a major player.” Pythia Public Affairs, Thies is Ad- Dwimoh serves as special counsel Rodneyse Bichotte Hermelyn ams’ director of intergovernmental Before becoming the borough ams’ senior campaign adviser, who to Adams at Borough Hall and as In addition to being the assembly- affairs at Borough Hall. ■

LEWIS-MARTIN CARONE SMITH THIES LYNCH RINGEL OFFICE OF THE BROOKLYN BOROUGH PRESIDENT, DANIEL MARINO, MARINO, DANIEL PRESIDENT, BOROUGH OFFICE OF THE BROOKLYN GETTY IMAGES, JEFF BACHNER, TWITTER, FACEBOOK, , COURTESY OF RED HORSE STRATEGIES DWIMOH REYNA CUMBO BICHOTTE HERMELYN RODRÍGUEZ FRIEDMAN

14 | CRAIN’S NEW YORK BUSINESS | July 26, 2021

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recent election cycles, hitting new highs, according to Campaign Fi- nance Board data and interviews with some of the city’s top political consultants. “The combination of ranked- choice voting and public financing have created a permanent industry of political consultants, some who are competent, others who are in- competent, but all who are guaran- teed income,” said Hank Sheinkopf, a veteran consultant with 40 years’ experience in city and national elections. Sheinkopf's firm made $6,500 from City Council candidate Maud Maron this year. “We have a busi- ness that was never intended to be full employment for people who don’t win and is provided money from the taxpayers,” he said. Among the biggest winners: ● Brooklyn-based Red Horse Strategies received more than $6 million this year from citywide rac- es, including $1.7 million from mayoral Democratic primary win-

ner Eric Adams. The firm received AP PHOTO $3.3 million from citywide races in 2017 and $2.3 million from citywide the Michael Bloomberg years, Maya Wiley’s unsuccessful mayoral robocalls and direct mail. cobble together voting blocs ends races in 2013. which saw the billionaire candi- campaign this year, compared with “It’s a mistake to disrespect the up taking precedence over legisla- ● The Parkside Group, which is date spend hundreds of millions of the $138,547 it pocketed from Scott knowledge and professionalism tion and improving city govern- headquartered in Midtown, col- dollars of his own money to win Stringer’s winning comptroller that is accrued by doing hundreds ment. lected $2.9 million in payments for elections. Reform-minded advo- campaign in 2017. of political campaigns,” Levenson “It’s the creation of the perma- its work on multiple campaigns this cates argued that greater invest- “What else do you think people said. “Everyone goes into a restau- nent campaign,” he said. “The only year, including unsuccessful bids ment of public matching funds spend money on?” asked Scott rant and thinks it’s just like cooking thing we’re changing is the size of by Brian Benjamin for comptroller Levenson, a con- in the kitchen, but it’s far more bank accounts and lying about how and Shirley Paul for City Council. sultant who found- complicated than that.” progressive we are.” That’s a sevenfold increase from the “THINK OF A CAMPAIGN AS A ed the Advance George Arzt, who has run his po- Doug Forand, a senior partner at $397,333 in payments the firm col- Group and received litical consulting agency since 1995 Red Horse Strategies, one of the lected for its work on six citywide STARTUP INTENDED TO GO $1.5 million from and collected $15,000 for advising beneficiaries of increased spend- races in 2013. BANKRUPT IN ONE YEAR” nonmayoral city- Ray McGuire’s mayoral campaign ing, noted that spending caps limit ● Dunton Consulting, a firm head- wide races this year. for two months this year, said most the amount of money any one cam- quartered in East Orange, New Jer- “Think of a political of the money goes toward advertis- paign can pay out, even as ranked- sey, brought home nearly $1.2 mil- would allow candidates with com- campaign as a startup business ing and polling. He estimated that a choice voting and matching funds lion this year, including $868,419 munity support—but less access to that is intended to go bankrupt in firm usually makes 15% off that. may have brought more candidates from Ray McGuire’s unsuccessful deep-pocketed donors—to com- one year.” The switch to a ranked-choice and money into the race this year. campaign for mayor. The firm col- pete in the political arena. voting system has only increased Forand noted that 2021 had an ex- lected just $130,036 from two city- Some political consultants are Necessary partnership the reliance the candidates—and, traordinary number of vacancies in wide races in 2017. sounding the alarm that the match- Levenson described political by extension, the taxpayers—place city government. “There’s just so much money in ing funds program has mixed with consulting as a necessary partner- on these consulting specialists, “More candidates mean more it,” said George Fontas, a lobbyist the new ranked-choice voting sys- ship between campaigns and ex- who are now called in to game out clients, but per candidate it is more and political strategist at Fontas tem to enrich and protect a perma- perts, which begins at zero and re- ways for a candidate to reach 51%, work for less money,” Forand ex- Advisors, who did not receive any nent class of political professionals quires an infrastructure to be built rather than 35%, in a crowded field. plained, adding that New York’s money from citywide candidates funded through taxpayer dollars. and large amounts of money to be “Nothing is more revolutionary in campaigns cost less compared to this year. “Campaigns haven’t spent Patrick B. Jenkins, who has lob- raised—and then spent—before the way politics is strategically run other races across the county. that much money before, so there’s bied for Speaker Carl Heastie and the business is folded up in either than ranked-choice voting,” Leven- Neither the Parkside Group nor more money to spend, and there’s worked on the campaigns of Gov. victory or defeat. He explained that son said. “It changes everything.” Dunton Consulting responded to a more money to make.” and Gov. Andrew Cuo- political consultants are hired by The ranked-choice voting system request for comment. mo, described this year’s election campaigns to manage voter com- creates enough uncertainty among Follow the money cycle as “a gold mine” for the polit- munication at a professional level candidates, Sheinkopf argued, that Gotta believe Campaigns spent more because ical consulting class and “an un- that includes text messaging, digital consultants become more import- Chris Coffey, Andrew Yang’s more was available from public necessary one” at that. messaging, television advertising, ant than voters, and finding ways to campaign manager at Tusk Strate- coffers. The city’s generous public “The am tching funds program— gies, said his group took a flat financing system, run by the Cam- at $8-to-$1—gives candidates who monthly fee and structured its paign Finance Board, gives—or have not done the work an oppor- POLITICAL CONSULTING FIRMS THAT CASHED IN FROM compensation in a way that may matches—money at a specific ratio tunity to run vanity projects,” he ­GOVERNMENT-MATCHED FUNDS have proved less lucrative than oth- based on the number of contribu- said. “If you’re talking about the The amount of money the companies raked in, in millions of dollars, from er firms’. tions below $250. This year cam- political consulting industry, it in- New York City mayoral candidates during the past three citywide election cycles “For us, this is not a way to make paigns received $8 for every $1 jected a lot of resources into it.” money,” Coffey said. “You do it be- matched under that public financ- One way to measure the impact cause you believe in the thing and ing ratio, with an individual contri- this year had on the political con- Dunton Consulting Parkside Group Red Horse Strategies you hope it helps the city. If all we bution limit of $2,000. sulting class is to examine the re- $7 care about is making money, then That ratio used to be $6-to-$1 ceipts from firms not based in New $6.2 we’d just do an independent expen- $6 and $4-to-$1, which led to lower York. diture committee for three times totals of taxpayer money provided Kathryn Garcia spent a com- $5 the amount of money and half the to citywide campaigns. By compar- bined $5.7 million on two media w o r k .” $4 ison, the public fund paid out a vendors and consultants from Los $3.3 Tusk Strategies received $250,568 combined amount of $56 million Angeles and East Lansing, Mich.— $3 $2.9 from Yang this year, compared with for both the primary and general Left Hook Strategy and Change $2.3 just $1,000 from Corey Johnson’s election races in 2013 and 2017, ac- Media Group—neither of whom $2 City Council race in 2017. But the cording to finance board data. was used by candidates in the 2013 $1.1 most lucrative year for Bradley $1 The move from the lower ratio of or 2017 election cycles. $0.4 Tusk, the firm’s CEO, was 2009, $0.1 $0 $0.1 $4-to-$1 in matching public funds GPS Impact, an integrated media made (in millions) Money 0 when he collected $715,865 from during the 2001 election to $8-to- firm headquartered in Des Moines, 2013 2017 2021 Michael Bloomberg’s mayoral cam- $1 this year was an outgrowth of Iowa, received $3.7 million from SOURCE: New York City Campaign Finance Board paign. ■

16 | CRAIN’S NEW YORK BUSINESS | July 26, 2021

P016_CN_20210726.indd 16 7/22/21 7:05 PM SPOTLIGHT ON LONG ISLAND

Welcome to Long Island:

Long Island has emerged as one of the most desirable destinations in the country.

With unparalleled access to New York City, world-renowned beaches, charming downtowns and villages and a diverse talent pool from our nationally ranked public schools and universities, it’s no surprise that Long Island is the growing choice for corporate headquarters, innovative start-ups, entrepreneurs and families seeking urban amenities with a suburban lifestyle.

Long Island’s industries, including technology, aerospace, bioscience and manufacturing, are leading the nation in innovation and advancement.

However, what Long Islanders know is that it’s our quality of life, access to entertainment and culture, feeling of community and stunning beauty that keep our residents here for generations and that draw visitors from around the world.

With one of the most competitive real estate markets in the country, the secret is out that Long Island is the destination of choice for business, pleasure and lifestyle.

We invite you to discover Long Island and all that Nassau and Su olk Counties have to o er for your business, your family or your visit.

Sincerely,

Steve Bellone Laura Curran Su olk County Executive Nassau County Executive

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P017_022_CN_20210726.indd 17 7/22/21 9:19 AM WESTCHESTER

SPOTLIGHT on LONG ISLAND Front Street in Rockville Centre Downtown – Credit: Long Beach Film Institute Stagnant no more, Nassau County is building a new future

n the nation’s worst moment to determine what protocols and We give grants to municipalities who of isolation, Nassau County precautions were in place. do want transit-oriented development, Executive Laura Curran stayed and find other ways to support them. focused on bringing people “We focused on getting people back Slowly but surely we get stuff done.” Itogether to shape the county’s future. to work as quickly but as safely as we BRONX could,” she says. “We did not want to The county executive takes issue with In March 2020, as everyone was let fear completely keep society shut a recent New York Times editorial locking down, Curran created an down.” Nassau County, she notes as that took the county to task for its economic advisory panel that brought an aside, has a higher vaccination rate towns’ unwillingness to encourage together leaders from local chambers than the state and the national average multifamily housing, especially of commerce, the hospitality industry, for adults over 18, for senior citizens, affordable housing, either by changing NASSAU

labor and the nonprofit sector. African-Americans and Latinos. zoning and other policies or by MANHATTAN COUNTY with just the people who don’t want 39 acres in Syosset. Amazon will providing financial incentives for QUEENS “I wanted to have my ear to the Now that the pandemic is receding, developers. change.” cap the brownfield, which is an ground about what our businesses Curran wants to continue boosting the area contaminated by industrial here needed,” Curran says. county’s economy by bringing people “I was annoyed because the towns and Richard Kessel, chairman of the or commercial use, and ultimately “Throughout the pandemic I felt it together in other ways. “I think we’ve villages here are actually becoming county’s Industrial Development provide 200 union jobs. was really important to advocate for got a good story to tell,” she says. much less resistant to the idea,” Agency, agrees. “Ten years ago people businesses.” Curran says. “There is change afoot.” were not open to it at all, but more In the other project, the 6-acre BROOKLYN That story is built on transit-oriented and more people recognize that if they Superblock in Long Beach will The county created restaurant development and downtown Pioneers such as Farmingdale Mayor want downtowns to survive, we have become the site of hundreds of recovery grants of up to $10,000 that revitalization, which the county has Ralph Ekstrand, Curran says, took to have multifamily and affordable apartments and condominiums political heat when they pushed housing.” and retail space. It will bring new to build multifamily apartments, residents and an infusion of spending but their persistence paid off. “The With the pandemic showing signs of money to the area. “Ten years ago people were not open to it downtown there went from being ending, people once again are looking at all, but more and more people recognize a ghost town to being one of the to come together for major events. “Long Beach has been suffering hottest places to go, with bars and Nassau County is readying the brand- financially,” Kessel says, “and this will that if they want downtowns to survive, we restaurants.” new UBS Arena in Elmont that will be give them a shot in the arm.” home to the New York Islanders and Where residents are proud to live, have to have multifamily and affordable Mayors in Great Neck, Port major concerts. Some have questioned the tax breaks housing.” Washington and Rockville Centre offered in both projects. But Kessel where employees come to work, have followed suit. Curran says she “The fact that people are investing counters, “The county, the town thinks more towns and villages will $1.5 billion to build this signals that and the school district will all end - Richard Kessel, chairman of the county’s Industrial Development Agency try to replicate that success as a way to Nassau County is the place to be,” up making more money. And we and where everyone loves to play. grow their tax base. Curran says. “Keeping the Islanders are sending a signal to other large was a big deal for the economy and for companies that Nassau County is went to more than 300 eateries. More encouraged for years, even when “Young people want to live in a our self-respect.” business-friendly. I think there will be recently, Curran pushed for more state municipalities were not yet open to it. walkable downtown,” she says. a ripple effect.” money, and she has received federal “Slowly but surely local politicians The arena is just 10 miles from Nassau funds to help other small businesses in “We can only plant the seed and keep are getting the message. You still find Coliseum, but Curran is confident Curran is excited about one other downtowns and nonprofits. watering,” she says. “It’s still suburbia, some people who say they like the idea the two venues can be programmed major undertaking: sewage. “Sewage it’s still a car culture, but you make but don’t want it in their community. in complementary, not competitive, on this level is like sewage in your own In pushing for common-sense changes where you can. We work with But more and more people welcome ways. Both may eventually offer a look house—you take it for granted until reopenings, she visited gyms, malls, mayors and town supervisors who are it and are coming out to the meetings, that symbolizes the idea of bringing something goes wrong,” the county bowling alleys and movie theaters open to change. so the meetings are no longer filled people together in ways that help the executive says. Connect with us. economy. While the sewage is cleaned before The UBS Arena is part of a it goes anywhere, the effluent being Garden City Hotel with NYC in background - Credit: Garden City Hotel redevelopment of Belmont Park that discharged into the South Shore’s includes a retail village, a hotel and back bays and channels is filled with Nassau County, NY has one of the most compelling business ecosystems in the country, from a highly skilled and a new Long Island Rail Road station. nitrogen. Curran is working with state diverse workforce to our beautiful villages and vibrant downtowns, modern offi ce complexes, and unparalleled Meanwhile, Nassau Coliseum is and federal agencies to fund a project technology infrastructure. So, when your business expands here you’ll get far more than fi nancial incentives. You’ll gain an surrounded by more than 60 acres to divert sewage. of parking lots, but Curran says she unrivaled quality of life along with new perspectives and ideas to drive innovation and growth. remains bullish on a redevelopment The project would run the effluent plan for there that would generate 500 into a recently discovered and units of housing, high tech and health modernized aqueduct under Sunrise Contact Nassau County IDA CEO, Harry Coghlan at care office jobs, and entertainment Highway to a sewage treatment plant [email protected] to learn more. and retail outlets. that has a pipe long enough to diffuse the nitrogen into a much larger space “This has long been a symbol of farther out in the ocean. stagnation here, so we really want to get this done,” the county executive “This will rebuild the marshland, says. which provides storm surge protection, and it will help with Symbols of stagnation have begun marine life and with shellfishing,” to fall in the county. IDA Chairman Curran says. It will help provide Kessel is particularly excited about cleaner beaches, she adds. two major projects that came to fruition in the past year after decades The result, the county executive of going nowhere. says, will be an environmental and economic boon that boosts the South In the one IDA-approved project, Shore’s property values. Amazon will invest nearly $72 million to construct a more than “This is one of the biggest projects in 204,000-square-foot warehouse on my life,” she says. nassauida.org (516) 571-1945    linkedin.com/company/ncida S2 July 26, 2021 ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS

P017_022_CN_20210726.indd 18 7/22/21 9:19 AM BRONX

NASSAU

MANHATTAN COUNTY QUEENS

BROOKLYN

Where residents are proud to live, where employees come to work, and where everyone loves to play.

Connect with us.

Nassau County, NY has one of the most compelling business ecosystems in the country, from a highly skilled and diverse workforce to our beautiful villages and vibrant downtowns, modern offi ce complexes, and unparalleled technology infrastructure. So, when your business expands here you’ll get far more than fi nancial incentives. You’ll gain an unrivaled quality of life along with new perspectives and ideas to drive innovation and growth.

Contact Nassau County IDA CEO, Harry Coghlan at [email protected] to learn more.

nassauida.org (516) 571-1945    linkedin.com/company/ncida

CN020325.inddCN020330.indd 1 7/20/217/9/21 10:3710:36 AM SPOTLIGHT on LONG ISLAND

In Suffolk County, it’s all about Ronkonkoma HUB connection . . . and change

n economic development Sandy.  e county executive  nds downtowns with transit-oriented policy built around the a lot to like in President Joe Biden’s development, which ties in with notion that “everything is American Rescue Plan. transit improvements. An aging connected” sounds geared demographic and drawing and Amore to a 1960s-style commune “We’ve made a ton of progress,” the retaining a new generation are major than modern-day suburbia, where county executive says. concerns, Bellone says. people live in splendid isolation. But in Su olk County it actually re ects A perfect example of the role  ese concerns make it crucial to a pragmatic approach to changing new infrastructure can play is the create vibrant downtowns, with retail, times. Brookhaven National Laboratory, restaurants and entertainment, as well which will become the home of the as o ces and multifamily housing “We have an economic development Electron-Ion Collider and draw near trains for easy commutes.  is plan called Connect Long Island,” scientists there. “ e lab needs new housing could give local empty says County Executive Steve Bellone, modern infrastructure,” Bellone says. nesters a place to live should they who developed the strategy on a To that end, he is working with the downsize. smaller scale when he was Babylon Long Island Rail Road and the town to supervisor and began emphasizing relocate an underused station so that “We spent decades on Long Island local governments and chambers is careful not to force things on any improved mass transit for struggling it is virtually at the lab’s door. separating things out, but we of commerce to support transit- town that is resistant. Instead, he says, communities. now recognize we were missing a oriented development and multifamily it works to involve communities from “We want to connect a global signi cant piece—there’s a desire housing. Her department supports the start of the planning process.  e countywide initiative aims institution to the innovation for connection, and building downtown revitalization with grants to provide sustainable growth for ecosystem in the region,” he says. out downtowns as centers of for pedestrian, lighting and facade “We would never come into a the region.  at means a focus on “ at’s what Connect Long Island is communities, improved property improvements and the like. community and say, ‘You need to infrastructure: transit-oriented all about.” values and the quality of life,” Bellone do these things,’” he says. “We say, development, including a ordable says. “We had to catch up to what  e biggest success in the e orts to ‘Regionally this will help us achieve housing; sewer and water quality Natalie Wright, commissioner of the the marketplace and young people recast and reconnect Su olk County prosperity and stability, and if you’re improvements; and a modern county’s Economic Development are telling us they want and need. is the Ronkonkoma Hub, a $700 interested we’ll make investments INNOVATION transportation system that links major and Planning Department, says We need to attract young people, million project on 53 acres.  e Hub here.’” research and educational institutions, transportation investments provide entrepreneurs and innovators.” has already opened 245 units and businesses and residents. opportunities to connect people. will ultimately add 1,450 residential In recent years, Republicans, especially is in our DNA For example, reimagining the bus Wright says a recent study found homes and more than 600,000 square former President Donald Trump, “We have incredible assets here,” system, Wright says, can “provide many young residents plan to leave feet of commercial space, generating have used racial dog whistles to try to Bellone says, “but what is holding us 10,000 construction jobs followed by turn the building of multifamily units, back from greater economic growth 2,500 permanent jobs. Phase two is especially a ordable housing, into a and prosperity is that we haven’t really “We have incredible assets here. But what expected to begin this year, adding 544 political weapon in suburbia. been leveraging them together.” is holding us back from greater economic residential units and 104,000 square Businesses Thrive in Suffolk County. feet of retail space. Wright says she hopes this issue will Connect Long Island has led to nearly growth and prosperity is that we haven’t become less political during the Biden 2,000 units of housing built or under But these shiny new buildings will years. To educate people, she uses construction in Su olk’s downtowns really been leveraging them together.” only thrive if people have access to studies that show multifamily housing as well as signi cant progress on - Steve Bellone, Su olk County Executive clean water. Bellone says water has, does not overburden school districts north-south Bus Rapid Transit routes, Innovation and forward-thinking government are the foundations driving Suffolk County’s naturally, always been central to life and that a ordable housing is for especially along Route 110, and major on the island, but now the climate nurses and electricians, among other economy and are the major reasons industry segment pioneers like Canon, Estee Lauder and investments in the Long Island Rail meaningful and lasting change.”  e Long Island because of a lack of crisis is changing the focus from blue-collar workers. Road, which include 13 miles of commissioner promotes bike-share housing, jobs and an appealing Marchon Eyewear located here. We are also home to: swimming, boating and  shing to new track between Farmingdale and programs and the just-launched ride- lifestyle. “Without them, we don’t protecting the water supplies. “ ese are your neighbors,” Wright Ronkonkoma. share pilot program that functions like have future homeowners, employees says. “We’re just trying to provide ■ Cutting edge research facilities like Brookhaven Labs and Cold Spring Harbor Laboratories UberPool. and business owners,” she says, “so “We’re not going to have an economic a diversity of housing solutions for Bellone praises Gov. Andrew Cuomo’s addressing the lifestyle in which ■ A high-tech, pharmaceutical and nutraceutical hub second only to Silicon Valley future here,” the county executive everyone that wants to live on Long infrastructure investments, which “We hope these other options can they want to live is important to the says, “if we don’t reverse decades Island.” ■ A small and medium size manufacturing hub, with over 3,000 manufacturing companies have helped with sewage projects and reduce reliance on [the] single- county. of decline in our water quality and expanded railroad capacity, and Sen. occupancy vehicle,” she says. ■ One of the nation’s most highly skilled workforce protect it going forward.” Bellone emphasizes transit-oriented ’s role in delivering “We need to facilitate a work-live- development and downtown ■ Access and close proximity to the financial and business resources of New York City “signi cant funding” for the water Bellone extends the connection theme play environment,” adds Wright, Wright notes Su olk County is revitalization are “not about remaking and sewer projects a er Superstorm to the emphasis on redeveloping whose department works with heavily reliant on septic systems what we love about our single-family- Suffolk County also delivers an extraordinary quality of life. From our world class and cesspools, which makes home communities.” Rather, they are Patchogue Downtown funding modern sewer systems in about adding “great new things to beaches, golf courses and parks; to the charm and familiarity of our historic downtowns; downtown corridors a priority. At enhance them,” the county executive internationally acclaimed vineyards; and thousands of acres of preserved open space, Suffolk the Ronkonkoma Hub, the state says. recognized that sewer upgrades were offers something for everyone. essential and kicked in $55 million for Wright agrees, explaining that while the cause. her department’s mission involves growing and developing the county, it At the Suffolk County Industrial Development Agency, we want to be your company’s “Wastewater investment helps seeks to preserve the county. gateway to a thriving future. Our economic development professionals can: ignite revitalization,” Wright says, ■ Provide access to financial incentives, tax abatements and other financial resources to adding that she wants to make sure “ at means open-space preservation underserved communities get their and agricultural preservation lower relocation and/or expansion costs fair share on this front. “A lot of programs,” she says. Redeveloping ■ Expedite all local, regional, and state regulations and permitting development is constrained out here downtowns, where the land is already by wastewater issues. So every dollar in use, helps preserve natural areas, as ■ Serve as your conduit to local and regional resources such as workforce training, of wastewater investment is really a well as beaches and communities of supply chain vendors and new business channels multifold return, with environmental single-family homes, she explains. and economic and quality-of-life bene ts.” “We’re ready for change,” Wright says, “but we’re trying to do it in a With a population that has lived conscious way that balances the needs Contact our Executive Director Tony Catapano in Su olk County for years, it’s no of residents both young and old, those surprise that not everyone embraces that have been here and those that change. But Bellone says the county may want to come here.” or Deputy Executive Director Kelly Murphy. ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS S4 July 26, 2021 631-853-4802 | [email protected] WWW.SUFFOLKIDA.ORG

P017_022_CN_20210726.indd 20 7/22/21 9:19 AM INNOVATION is INNOVATIONin our DNA is in our DNA Businesses Thrive in Suffolk County. Businesses Thrive in Suffolk County.

Innovation and forward-thinking government are the foundations driving Suffolk County’s economy and are the major reasons industry segment pioneers like Canon, Estee Lauder and Marchon Eyewear located here. We are also home to:

■ Cutting edge research facilities like Brookhaven Labs and Cold Spring Harbor Laboratories ■ A high-tech, pharmaceutical and nutraceutical hub second only to Silicon Valley ■ A small and medium size manufacturing hub, with over 3,000 manufacturing companies ■ One of the nation’s most highly skilled workforce ■ Access and close proximity to the financial and business resources of New York City

Suffolk County also delivers an extraordinary quality of life. From our world class beaches, golf courses and parks; to the charm and familiarity of our historic downtowns; internationally acclaimed vineyards; and thousands of acres of preserved open space, Suffolk offers something for everyone.

At the Suffolk County Industrial Development Agency, we want to be your company’s gateway to a thriving future. Our economic development professionals can: ■ Provide access to financial incentives, tax abatements and other financial resources to lower relocation and/or expansion costs ■ Expedite all local, regional, and state regulations and permitting ■ Serve as your conduit to local and regional resources such as workforce training, supply chain vendors and new business channels

ContactContact ourour ExecutiveExecutive DirectorDirector TonyTony CatapanoCatapano oror DeputyDeputy ExecutiveExecutive DirectorDirector KellyKelly Murphy.Murphy. 631-853-4802 | [email protected] 631-853-4802 | [email protected] WWW.SUFFOLKIDA.ORGWWW.SUFFOLKIDA.ORG

CN020331.indd 1 7/23/21 12:17 PM SPOTLIGHT on LONG ISLAND

he explains, “and the vacancy rate was Overlooked for less than 1 percent.” With the sudden interest and rising prices, including some that have years, industrial doubled or tripled in recent years, “the market is the strongest it has been in three decades,” Pennetta says. real estate is Office space at 263 Old Country Road “There is a 6.6 million square feet in (a Cushman & Wakefield’s project) planning or under construction plus suddenly a star one big project that will add nearly 10 million square feet,” the Cushman & jumped,” Magnani says. A wait-and- change, the need for tax dollars will Wakefield executive says. “That will see approach is in play as employers create an impetus. mark a 10 percent jump in the overall and employees try to sort out the he industrial real estate industrial lots in Brooklyn and Queens total in Nassau and Suffolk.” future of office space, he says, and Pennetta says office life will ultimately market has long been the that were sold to residential developers. that’s created a glut. return. “Just look how quickly we are lost child of Long Island real returning to our old habits,” he says, estate. These days, however, “They are looking for proximity and Industrial developers from off Long But Kruse say things are picking up citing projects at 263 Old Country the industrial market has become the access,” Magnani says. But with a Island took the lead on the initial T construction. “Everybody here was now and should accelerate soon. Road and 515 Broad Hollow Road as darling of the family. shortage of inventory that has sent “We have a boatload of listings in examples of how offices can be made prices skyrocketing, the developers late to the game,” Pennetta says, but retail and office spaces,” he says. appealing. The latter offers a huge gym, “The industrial market has really been must look hard to find spaces, that is changing, with a lot of new “People aren’t jumping on the golf simulators, a pool and a restaurant. ignored on Long Island as commercial although Magnani says southern developers coming in as well as people spaces, but they are out here looking It was supposed to be a WeWork space, developers moved on from offices to Nassau and Suffolk counties have with the money. He explains that banks and talking, and that’s the starting but now several tenants will share it as multifamily development,” says David greater availability at lower prices. and funds that were putting equity point.” He adds that the emphasis their headquarters. Pennetta, executive managing director into multifamily properties are “now on downtown redevelopment of the Long Island office of Cushman “You just can’t get enough industrial making a big push into the industrial throughout Long Island has made “There has long been a brain drain for & Wakefield. But these days, the rise listings right now because of the section.” retail red hot. Long Island kids going into the city,” in the industrial market, fueled by extremely low inventory,” adds Rich Pennetta says. Some of that is because businesses leaving the city, is especially Kruse, an agent at Douglas Elliman “There is lots of money now,” Post-pandemic, Kruse expects some of housing issues, he explains, but strong in northwest Nassau County, and president of the Long Island Pennetta says. city businesses to either move to it’s also about the work experience. say John Magnani, executive director Board of Realtors. Long Island or create satellite offices “This newer, more fun type of office of DGNY Commercial and a board While the industrial market stayed for employees who don’t wish to experience could change that and help member of the Commercial Industrial Pennetta says this situation was a hot even during the pandemic, the return to commuting. Some sites with maintain the tax base. Brokers Society of Long Island. long time coming. “It was not sexy lockdown put a hold in other real offices may ultimately be rezoned to own industrial properties— there estate sectors “The permit process residential, Magnani says, adding that “It’s an exciting time here,” he adds. The exodus, Pennetta explains, was hadn’t been a speculative industrial was slower, building departments while building departments don’t like “I’m enthusiastic.” prompted in part by the numerous building constructed in fifteen years,” had skeleton crews, and then prices

WHAT’S NEXT ON LONG ISLAND With 4.1 billion square feet under management, 400 o ces in 60 countries, 2020 revenues of $7.8 billion and 50,000 hardworking innovators, this is where the power of real estate is unleashed on behalf of Long Island’s top owners and occupiers. Our clients benefi t from the insight that comes from the perspective of a trusted global leader. Explore what’s next at cushmanwakefi eld.com.

Joseph Caridi Managing Principal, Long Island & Connecticut +1 212 841 7700 [email protected]

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P017_022_CN_20210726.indd 22 7/22/21 9:19 AM REAL ESTATE The Lucerne plans hotel comeback in October as other homeless-shelter inns face roadblock

BY NATALIE SACHMECHI ters for nearly 10,000 adults during permanent housing rather than the pandemic. shelters, e New York Times re- THE LUCERNE HOTEL pper West Side hotel e e Legal Aid Society, on behalf ported. Lucerne has moved out of the Coalition for the Homeless e transitions were set to re- the last of its homeless and other advocacy groups, chal- sume last week, according to Social residents and plans to re- lenged de Blasio’s decision to move Services spokesman Ian Martin, Uopen to hotel guests by Oct. 1 fol- the people, claiming that the cur- adding that the agency was pleased lowing minor renovations and up- rent process does not meet the that the judge did not permanently dates. needs of people with disabilities block the plan to return everyone to e last shelter resident left the and puts them at risk of contracting congregate shelters. site June 28, said Ross Tucker, the Covid-19. A judge in the Southern e adjustment undoubtedly will hotel’s front-o ce director. Project District of New York agreed. be a di cult one for the homeless Renewal sta members, who were e ruling temporarily barred people, who had their own bed- supervising the homeless people’s the city from moving residents with room, bathroom, shower and tele- stay, left the following week as per a disability without further evaluat- vision while they lived in the hotels. Mayor Bill de Blasio’s plan to transi- ing their needs. Social Services will ey’ll be returning to shelters tion the homeless population back need to give them at least two days’ where they will share space with to temporary shelters after moving additional notice and make their strangers and have access to few them to hotels last year to slow the living options clear to them before amenities.

spread of Covid-19. they are asked to leave the hotel. BLOOMBERG But the removal of homeless res- “ is decision will help protect Legal dispute idents from other hotels was the health and safety of thousands e Lucerne garnered local at- between angry neighborhood resi- Financial District—a plan that gar- brought to a halt July 13 when a fed- of homeless people who are being tention last summer when de Bla- dents who wanted to shut the oper- nered opposition from community eral judge ruled that transferring rushed back to congregate shelters sio began moving homeless people ation down and the homeless, who organizers downtown. them back to shelters would be a based on the mayor’s cruel plan,” into empty hotels to relieve some of were  ghting to stay there, and their Several homeless residents  led risk to their health. said Helen Strom, an advocate for the crowding in shelters and slow advocates. an appeal with state Supreme Court the homeless at the Urban Justice the resulting spread of Covid-19. Plans to vacate the building were to stop the move, but an appellate Unmet needs Center. Upper West Side residents com- halted several times amid concerns panel dismissed their e orts last So far the city Department of So- Just before the ruling, six advo- plained of public drug use, harass- for the health and safety of the tem- month. e court ruled that they cial Services has ended the use of cates for the homeless were arrest- ment and public urination on the porary residents. Rather than send- could be evicted from the hotel and 23 of the 60 hotels, including the ed near Social Services o ces after part of shelter residents. ing the people back to a shelter, the sent downtown; the city decided to Belnord Hotel and the Hotel Belle- they demanded that those living in For the past year the Lucerne has city made arrangements to transfer transition them back to shelters claire, that were designated as shel- hotels be transferred straight to been at the center of a legal dispute them to the Radisson hotel in the rather than to another hotel. ■

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Two Harbors Investment Corp. seeks Business Manager (Citadel Enterprise Notice of Formation of KMH WORKS SJD, LLC Auth. filed w/ SSNY on Notice Of Formation Of OUR FIRST LA- Americas LLC – New York, NY) Collab LLC Arts. of Org. filed with Secy. of 5/17/21. NYS fictitious name: SJD NY BOR AND DELIVERY SERVICES LLC. Ar- Investment Analyst. Serve as an ZEXVKHDGV VUPJPWLQVXSSRUW·J State of NY (SSNY) on 05/25/21. Of- LLC. Office: New York Co. LLC formed ticles of Organization filed with the fice location: NY County. Princ. office integral part of an established team of the execution of initiatives rel to bus in DE on 3/26/18. SSNY designated Secretary of State of NY (SSNY) on of LLC: 79 Laight St., #6D, NY, NY as agent for process & shall mail to: 03/22/2021. Office Location NEW strategies. F/T. Reqs a Bach deg (or investment professionals in managing 10013. SSNY designated as agent of 1407 Broadway, #3507, NY, NY YORK County. SSNY has been desig- foreign equiv) in Bus Admin, Fin, Econ, LLC upon whom process against it may 10018. DE addr. of LLC: 16192 Coast- nated as agent upon whom process DGLYHUVHSRUWIROLRRIÀ[HGLQFRPHLQ- 0DWK6WDW%XV0JPWRUUHOÀHOG  be served. SSNY shall mail process to al Highway, Lewes, DE 19958. Cert. of against it may be served. The post Of- the LLC at the addr. of its princ. office. YHVWPHQWV5HT%DFKHORU·VRUHTXLY yrs of exp in job offered or in mgmt Form. filed w/ DE Sec of State, 401 fice address to Which the SSNY shall FRQVXOWLQYHVWPHQWEDQN·JRUV\VWHP- Purpose: Any lawful activity. Federal St, #4, Dover, DE 19901. Pur- mail a copy of any process against the \UVH[S-REVLWH1HZ

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P024_CN_20210726.indd 42 7/23/21 10:14 AM Advertising Section CLASSIFIEDS To place a classified ad Email: [email protected]

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NOTICE OF FORMATION OF Justice, NOTICE OF FORMATION OF THREE Notice of Formation of 203 Flatiron Notice of Formation of 37A - 200 AM- Notice of Qualification of ACRE SOL- Accountability, and Security Insti- BEARS CAPITAL, LLC. Articles of Organ- Property Management, LLC. Arts. of STERDAM, LLC Arts. of Org. filed UTIONS L.P. Appl. for Auth. filed with tute, L.L.C.. Articles of Organization ization filed with Secretary of State of Org. filed with Secy. of State of NY with Secy. of State of NY (SSNY) on Secy. of State of NY (SSNY) on filed with the Secretary of State of NY (SSNY) on 05/25/2021. Office lo- (SSNY) on 06/21/21. Office loca- 07/09/21. Office location: NY Coun- 07/09/21. Office location: NY Coun- NY (SSNY) on June 14, 2021. Office cation: NEW YORK County. Principal of- tion: NY County. SSNY designated ty. SSNY designated as agent of ty. LP formed in Delaware (DE) on location: NEW YORK County. SSNY fice of LLC: 380 LENOX AVE., APT as agent of LLC upon whom process LLC upon whom process against it 04/30/21. Duration of LP is Perpet- has been designated as agent upon #10E, NEW YORK NY, 10027. SSNY against it may be served. SSNY may be served. SSNY shall mail proc- ual. SSNY designated as agent of LP whom process against it may be designated as agent of LLC upon shall mail process to: Registered ess to Corporation Service Co., upon whom process against it may served. The Post Office address to whom process against it may be Agents Inc., 90 State St., Ste. 700, 80 State St., Albany, NY 12207. Pur- be served. SSNY shall mail process which the SSNY shall mail a copy of served. SSNY shall mail a copy of any Office 40, Albany, NY 12207. pose: Any lawful activity. to Corporation Service Co., 80 State any process against the LLC served process against LLC to address of its Purpose: any lawful activities. St., Albany, NY 12207-2543. Name upon him/her is: 413 Grand Street, principal office. Purpose: any lawful act and addr. of each general partner Apt. 1701, New York, NY 10002. or activity are available from SSNY. DE addr. of The principal business address of Notice of Formation of RGM GP LLC Notice of Formation of RYM OWNER LP: 251 Little Falls Dr., Wilmington, the LLC is: 413 Grand Street, Apt. Arts. of Org. filed with Secy. of State LLC Arts. of Org. filed with Secy. of DE 19808. Cert. of LP filed with DE 1701, New York, NY 10002. STREET FOOD CHAAT LLC, Arts. of of NY (SSNY) on 07/08/21. Office State of NY (SSNY) on 05/21/21. Secy. of State, Div. of Corps., John Purpose: any lawful act or activity. Org. filed with the SSNY on 05/ location: NY County. SSNY designat- Office location: NY County. Princ. of- G. Townsend Bldg., 401 Federal St., 24/2021. Office loc: NY County. ed as agent of LLC upon whom fice of LLC: 17 Henmar Dr., Closter, Ste. 4, Dover, DE 19901. Purpose: SSNY has been designated as agent process against it may be served. NJ 07624. SSNY designated as Any lawful activity. Notice of Qualification of AGILE upon whom process against the LLC SSNY shall mail process to Philip J. agent of LLC upon whom process TELEHEALTH SERVICES, LLC. Authori- may be served. SSNY shall mail proc- Michaels, c/o Norton Rose Fulbright against it may be served. SSNY shall ty filed with Secy. of State of NY ess to: The LLC, 176 Bleecker Street, US LLP, 1301 Ave. of the Americas, mail process to the LLC at the addr. (SSNY) on 06/15/21. Office location: NY, NY 10012. Purpose: Any Lawful NY, NY 10019. Purpose: Any lawful of its princ. office. Purpose: Any law- Notice of Formation of CPG TRIBORO NY County. LLC formed in Delaware Purpose. activity. ful activity. (DE) on 06/22/20. SSNY designated PORTFOLIO MANAGER LLC Arts. of Org. as agent of LLC upon whom process filed with Secy. of State of NY (SSNY) against it may be served. SSNY shall GH Venture Partners, LLC filed Arts. of ROADRUNNERS ENTERTAINMENT LLC. FELICE HUDSON, LLC, Arts. of Org. on 06/15/21. Office location: NY mail process to: C/O CORP2000 INC., Org. with the Sect’y of State of NY Arts. of Org. filed with the SSNY on filed with the SSNY on 05/28/2021. County. Princ. office of LLC: 419 Park 720 14th St., Sacramento, CA 95814. (SSNY) on 6/8/2021. Office: NY Coun- 05/05/21. Office: New York County. Office loc: NY County. SSNY has been Ave. South, Ste. 401, NY, NY 10016. Address to be maintained in DE: c/o ty. SSNY has been designated as SSNY designated as agent of the LLC designated as agent upon whom proc- SSNY designated as agent of LLC Corp2000, 838 Walker Rd., Ste. 21-2, agent of the LLC upon whom process upon whom process against it may be ess against the LLC may be served. upon whom process against it may be Dover, DE 19904. Arts of Org. filed against it may be served and shall mail served. SSNY shall mail copy of proc- SSNY shall mail process to: SA Hospi- served. SSNY shall mail process to with the Secy. of State, 401 Federal process to: The LLC, 410 Park Ave, ess to the LLC, c/o Entertainment, tality Group LLC, 950 Third Avenue- Corporation Service Co., 80 State St., St. #4, Dover, DE 19901. Purpose: Ste 730, NY, NY 10022. Purpose: any P.O. Box 910, Westbury, NY 11590. Suite 500, NY, NY 10022. Purpose: Albany, NY 12207. Purpose: Real es- any lawful activities. lawful act. Purpose: Any lawful purpose. Any Lawful Purpose. tate.

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JULY 26, 2021 | CRAIN’S NEW YORK BUSINESS | 25

P024_CN_20210726.indd 29 7/23/21 10:14 AM RESTART FROM PAGE 1 CASE STUDY: IT TOOK 7 YEARS OF TWISTS AND TURNS

plans for new projects spanned TO GET AN AFFORDABLE APARTMENT PROJECT BUILT about 5.4 million square feet, the November 2013 lowest gure in more than a decade JV Partnership with HERE’S WHAT IT REALLY TAKES Property Owner and a 42.2% drop year over year, ac- L+M DEVELOPMENT initially started work on the Carolina, its af- TO BUILD A BUILDING IN NYC L+M forms a joint venture cording to a report from the Real fordable housing project in East Harlem, in November 2013, when partnership at the Carolina Estate Board of New York. (REBNY the company formed a joint venture partnership with Tahl Propp February 2014 site with property owner Tahl Propp Equities did not have second-quarter g- Equities. The rst tenants didn’t move in until August 2020, almost Initial Agency Meetings ures available at press time). seven years later. L+M holds initial meetings But construction o cials remain “We rst really sat down with the city and our partner in February about the project with the 2014-2015 con dent they will avoid the worst- 2014 to start discussing what this project could be,” said Spencer Department of City Planning and the Department of Housing The development case scenario of spiraling unem- Orkus, managing director of affordable housing at L+M. “It was over Preservation and Development team works and ployment and a complete lack of two years later that we started our land-use review process. That’s a ultimately reaches an agreement with the new projects that seemed possible pretty extraordinary amount of time.” city over the scale and when the pandemic rst hit. In ad- It did have to go through the city’s land-use review process, but it 2015-2016 shape of the project dition to work renovating o ces, largely avoided the type of intense community and political opposi- The project goes through a technical multiple industry leaders pointed tion that has slowed or outright derailed other major projects in the and architectural to government projects as a sector city. review process to June 2016 that would help them get through Its roughly seven-year path to completion illustrates the many determine the best ULURP Certi cation the upcoming quarters. steps developers need to go through to build something in New York, way to document the restrictions involved The city certi es L+M’s “It’s kind of slow right now, but I especially when the project is as large as the Carolina, which stands with rezoning the site rezoning application for think there’s a legitimate reason 15 stories tall with 400 units across about 475,000 square feet. the Carolina, launching the land use review process why,” said Gary LaBarbera, presi- L+M led plans for the project with the Department of Buildings dent of the Building and Construc- in January 2017 and received its temporary certi cate of occupan- July 2016 tion Trades Council of Greater New cy in July 2020. Design Document Start York. “Basically the entire industry “It does have to do with a pretty extraordinary amount of regula- L+M begins architectural, structural and mechanical construction plans January 2017 was shut down for an extended pe- tion, and some of it is for good, and I think some of it really could for the project based on riod of time and just has to catch up be more coordinated,” he said. agreements about the building it ULURP Complete, with itself.” Between 2016 and this year, it took an average of 545 business has reached with DCP DOB Filing L+M completes the land days, or roughly two calendar years, for a developer to go from use review process for the Of ce redo initially ling a project proposal with the DOB to receiving the rst Carolina and les plans Major New York companies, in- certi cate of occupancy, the department said. The process took the for the project with the January-June 2017 Department of Buildings. cluding the growth equity rm longest time in Manhattan, about three years, and the shortest time L+M submits plans for General Atlantic and the invest- on Staten Island, about a year and a half. the project to the ment bank PJ Solomon, are among Those numbers were down across-the-board compared with 2011 Department of Buildings and connection requests those rethinking their o ce space to 2016, when it took closer to three years on average throughout for the building to utility April 2017 coming out of the pandemic, said the city to go from an initial DOB ling to a certi cate of occupancy, companies and the Commence Kathryn Wylde, president of the ranging from about four years in Manhattan to just over two years Department of Construction Bidding Partnership for New York City. In on Staten Island, according to the DOB. Environmental Protection. L+M’s general contractor general, rms are focusing on steps — Eddie Small starts the bidding such as spacing cubicles farther process to hire individual subcontractors on the apart and designing conference project rooms to better accommodate a air conditioning is on the top of this help cushion us.” June 2017 mix of in-person and remote work- particular client’s mind,” Clune  e city’s plan to replace Rikers 100% Construction Documents, ers, Wylde said. said. “I think there is a heightened Island with jails in each borough DOB Plan Approval, Construction August 2017 Financing Closed “ ey’ve redone conference focus on things like that coming out and the Port Authority’s plan to re- Ground breaking rooms so that people who are on of the pandemic.” develop Terminal 4 at John F. Ken- L+M completes the necessary construction documents for the L+M and Zoom are more present.  ey’re not A Manhattan bank that works nedy International Airport are two project, closes on construction development just a little box somewhere, but with Studios Architecture is in the of the upcoming government proj- nancing and executes its general team break contractor contract ground on the they’ve got a bigger presence in the middle of recon guring its o ce ects that LaBarbera’s group is look- project room,” she said. “ ey’ve tried to re- space, said DeGarmo, who de- ing forward to.  e New York City design that equipment and those clined to name the bank. Previous- Economic Development Corp. said ly, he explained, the company had Building rooms so that it feels more equal be- it is working on more than $1 bil- construction tween the people who are physical- virtually all of its employees at in- lion worth of projects in the next takes place dividual three years, with major develop- “THEY’VE REDONE CONFERENCE desks in an ments including the reconstruction May 2018 open-space of the 79th Street Boat Basin in The development plan, but it is Manhattan and the Tompkinsville team nishes work ROOMS SO THAT PEOPLE ON on the project’s now con- Esplanade on Staten Island. foundations ZOOM ARE MORE PRESENT” verting Construction is not counting out about 25% of a boost from the federal govern- May 2019 ly present and the people who are each  oor into group spaces. ment, given that negotiations over Structural virtually present.” Workers who are not coming in an infrastructure bill could produce Topping Out Work on interior build-outs is every day will now share individual a game changer for the industry's Construction likely to increase even more later seats, and the extra space created future. President Joe Biden an- work on the this year because companies should by removing some seats is being nounced in June that the govern- project tops out have a better understanding of their used for conference rooms, meet- ment had come to a bipartisan September 2019 o ce needs after Labor Day, said ing rooms and amenities to entice agreement on a ve-year, $579 bil- Building fully enclosed Sean Clune, director of New York employees back to the o ce, De- lion infrastructure plan, although The building is fully enclosed, meaning operations at Clune Construction. Garmo said. its passage remains far from certain. every structure that His rm has kept busy in the mean- “ at is not a private o ce that’s A federal infrastructure bill that keeps weather out of the project is done time with renovations at 200 Park dedicated to a person who isn’t passes quickly could end up being May 2020 Ave. and several build-outs in the there anymore,” he said. “ at the di erence between a slow or a Substantial Completion/ 10,000- to 15,000-square-foot range, space can switch very quickly from busy start to 2022 for the construc- Pass TCO Walkthrough but even this subsection of the in- being an individual’s o ce to being tion industry, said Zachary Stein- The project is substantially dustry has not provided the compa- a conference room that can support berg, senior vice president of policy completed and passes its walkthrough inspection to ny with as much work as Clune a team.” at REBNY.  e lack of projects led get a temporary certi cate would like. at the beginning of the year could July 2020 of occupancy Installing glass partitions was a Public works lead to a much lower amount of Occupancy certi cate received common job for the rm during the Construction workers are not re- work in six months without an in- The project receives worst days of the pandemic, Clune lying solely on o ce renovations to frastructure deal, he explained. its temporary said, but health concerns remain a carry them through the upcoming “It certainly takes a couple of certi cate of prominent part of the interior work months. Government-backed proj- years to go from a new-building l- occupancy August 2020 his company is doing today. ects will play a major role, multiple ing to construction,” Steinberg said. Commence Move-Ins “One of the larger build-outs that sources said. “ at’s why I think the infrastruc- People begin moving we’re doing now, they’re very fo- “ e public works that we have ture bill is going to be so important. into the project. cused on making sure that there’s will help to make up for whatever If you start authorizing those proj- enough air  owing through the losses we have in the private sec- ects now, they’re going to be in the April 2021 95% Occupancy space, and heating, ventilating, and tor,” Coletti said. “We hope that will ground during those times.” ■ COURTESY OF L+M

26 | CRAIN’S NEW YORK BUSINESS | JULY 26, 2021

P026_CN_20210726.indd 26 7/23/21 4:54 PM SMALL-BUSINESS SPOTLIGHT

BENSAMOUN wanted to make sure his German shepherd was getting enough exercise. FOCAL POINTS BUCK ENNIS

FOUNDED Jonathan Bensamoun, CEO, and Loren Kirkby, chief technolo- TECH FOR GOOD DOGS: INVESTORS BET gy of cer, launched Fi in 2017. FULL-TIME EMPLOYEES 50 ON SOHO STARTUP’S SMART COLLARS FUNDING Fi has raised $40 million from venture capital investors in three Backed by $40 million in venture capital, Fi and its $149 collar joins separate deals. a herd of pet-tech startups seeing a boost from pandemic puppy boom PRODUCT MIX Fi’s $149 smart dog collar has a GPS locator and tracks a pet’s daily activity. A $99 annual BY RYAN DEFFENBAUGH GPS-enabled, feeding data to algorithms Startups focused on pets raised about $710 subscription service provides location that probe for unusual behavior.  e Fi app million in total investments last year, accord- data and alerts the owner if a dog ecause he was working long hours as will send an alert if Toto strays beyond his ing to research rm Crunchbase, up about wanders outside of its usual areas. vice president of a technology rm, usual territory, which could help an owner $100 million from 2019. New York–based GROWTH STRATEGY The company Jonathan Bensamoun hired a dog locate their lost dog. startups captured $130 million of those in- will use $30 million in new invest- walker to make sure his German Fi derives revenue both from product sales vestments. ment to add features, such as sleep shepherd,  or, was getting exercise. and a paid subscription service. Location Bensamoun, 40, who grew up in France B tracking, and boost its marketing But an access system for his apartment tracking costs $99 per year. with a family dog, notes that these days, spending. showed that, over time,  or’s walks were Bensamoun said the number of users of many people consider their dog to be their getting shorter and shorter. He searched on- the service is in the six gures, though he de- child. line for a product to keep track of his pet but clined to give exact numbers. “ or is my rst kid,” Bensamoun said found the product options limited.  at got  is month Fi moved into an 8,000-square- with a laugh. “I want him to have the best of New tricks him thinking. foot o ce, where it hosts about 50 workers everything. I drive an hour out of the city just Fi has plenty of competition.  ere are at “ ere are probably a lot of people like me and at least a dozen of their dogs. to buy food.” least four other GPS-enabled collars on the who want something to track their dog, and “People are getting married and starting market, including Whistle, owned by pet at the same time millions of dogs are going Having its day families later in life, and in a lot of cases pets food giant Mars. PC Mag this year rated Fi’s missing every year,” Bensamoun recalled Before Fi, Bensamoun worked several are lling those roles,” said Andrea Hippeau, collar as its editor’s choice , praising its “un- thinking at the time. “If we could actually do years at payments-technology company a partner at Lerer Hippeau, one of the city’s beatable” battery life. something about that, there would be huge Square after the San Francisco rm acquired largest early-stage investment funds, and a  e company plans to add products demand.” his startup, Pins, an app for saving locations dog mom. around health and wellness for dogs too, in- Four years and $40 million in venture cap- to one’s phone, in 2014. Lerer Hippeau invested $3 million in Fi in cluding an option for sleep tracking. Short of ital investment later, Bensamoun is CEO and “If you told me ve years ago I’d be in the 2017, betting on little more than a prototype an Up-style bark-to-voice translation collar, co-founder of Fi, a SoHo-based startup that dog-products business, I’d say you’re crazy,” of the collar, and joined the company’s most monitoring for behavioral changes and ac- sells a $149 smart collar for dogs.  e com- he said. recent $30 million funding round in Febru- tivity o ers the best chance to make sure a pany, whose name is derived from the popu- But the idea isn’t so far-fetched. Ameri- ary.  e rm has also backed subscription pup is OK, Bensamoun said. lar dog name Fido, is part of a growing pet- cans spent $100 billion on pet products in dog-treat company Barkbox, fresh dog-food “We think long term we will be an overall tech industry . 2020, according to an industry association, a company Ollie and veterinary care company solution for keeping your dog safe and in Fi’s collar tracks a pooch’s steps. It is 7% boost from the previous year. SmallDoor. good health,” he said. ■

JULY 26, 2021 | CRAIN’S NEW YORK BUSINESS | 27

P027_CN_20210726.indd 27 7/23/21 2:04 PM Celebrating our Diversity. Focusing on Inclusion. Embracing our Differences. Congratulations to the Office of Diversity & Inclusion for being recognized as Diversity This is Weill Cornell Medicine. Champions by Crain’s in their inaugural Excellence in Diversity & Inclusion Awards. At our institution, we see diversity as a platform for creativity and innovation. By fostering an environment of equality, respect, and collaboration, we can find solutions to challenging healthcare problems, advance cutting- edge biomedical research, and support innovative medical education. We all belong here — and together, we’re changing medicine.

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