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GRAND CENTRAL PARTNERSHIP ANNUAL REPORT 2019 1 WELCOME

3 NEW PUBLIC SPACE IN MIDTOWN EAST

Founded in 1985, the Grand Central 10 Partnership, Inc. (GCP) manages one of CONTENTS OTHER PUBLIC SPACE the world’s largest Business Improvement IMPROVEMENTS Districts (BIDs) on behalf of the Grand Central District Management Association. A nonprofit organization, GCP is now 15 in its fourth decade of delivering MIDTOWN EAST DEVELOPMENT supplemental public safety, sanitation, capital improvements, maintenance, & RENEWAL CONTINUES horticultural displays, business support, and visitor services to a district encompassing approximately 70 blocks in Midtown 28 23 East. With the Beaux-Arts masterpiece FIELD OPERATIONS NEIGHBORHOOD PROMOTION as its geographic & PROGRAMMING GROW anchor, the neighborhood offers the very best of City: it is a bustling center 32 of commercial activity by day and a HOMELESS OUTREACH destination for fun and culture by night. 27 Financed by special assessments on the PROGRAMMATIC UPDATES 33 area’s roughly 73 million square feet of built CAPITAL MAINTENANCE space, the BID operations are provided under a renewable contract with the City of 42 New York. 36 FINANCIALS EXTERNAL AFFAIRS

44 OFFICERS & BOARD OF DIRECTORS

46 MANAGEMENT 2019 ANNUAL REPORT Welcome

Calendar year 2019 was another year of major accomplishment, achievement, and growth for Grand Central Partnership and the Midtown East community we proudly serve. We introduce this report by extending a special thank-you to all of our stakeholders and partners who have generously supported the Grand Central Partnership throughout our history. To our present leadership, staff, Board of Directors, stakeholders, partners, and friends: we are grateful for your continued participation and support. This first year of our fourth decade as a BID saw the continuing effects of the rezoning of 2017, with completed and new development, redevelopment, and reinvestment in WELCOME the area. We also saw elements of our "Access to Everything is Everything" branding work, which was finalized in 2019, beginning to be used in various printed and digital pieces Dear Friend of and projects produced over the year, as well as in this report. And then — holding very special meaning for us — 2019 saw the opening of Pershing Square Plaza (West) after over a decade of design and construction work and over the Grand Central 30 years since it was first conceived as part of our master plan for the district in the lead-up to the creation of the Grand Central Business Improvement District. Already a “town center” that bustles with activity and community, Pershing Square Plaza is 1 Partnership: a beautiful oasis of well-designed public space in our neighborhood, where such space is at a premium. We look forward to realizing the full potential of this incredible addition to the Grand Central and Midtown East area streetscape in the coming year, and in years to come! GCP rounded out the year with additional new public space improvements in process or in talks; the return of beloved neighborhood public events, including Grand Gourmet; and exciting new potential for collecting and reporting data about the neighborhood. It is in that spirit that we invite you to read on as we recount the key highlights, as well as additional reporting on our core services, during 2019. In closing, we would be remiss not to acknowledge that this report is being released during an unprecedented period, as we face the impact of COVID-19. Rest assured that we will continue to deliver our essential services — without interruption — and work together with our community to help our area continue to improve and flourish. Wishing you continued safety and good health,

Peter S. Kalikow Alfred C. Cerullo, III CHAIR PRESIDENT/CEO New Public Space in Midtown East

NEW PUBLIC SPACE IN 3 MIDTOWN EAST

. . . WITH MORE TO COME 2019 ANNUAL REPORT New Public Space in Midtown East

TO GRAND CENTRAL

E 42ND ST was first PERSHING SQUARE WITH OPEN VIADUCT envisioned by (1920s)

GCP 30-plus years CENTER , (enclosed in 1930s) ago

CAREY BUSES OCCUPY THE VIADUCT’S Pershing DRAB OVERPASS CAN BECOME A CEILING OF 4 PLAZA EAST LIGHT 5 PLAZA WEST Square Plaza < PARK AVE VIADUCT > AVE < PARK

OPPOSITE: PLANS FOR PERSHING SQUARE PLAZA FROM GCP’S MASTER PLAN FOR THE DISTRICT as part of its master plan for the district.

E 41ST ST

TO DOWNTOWN 2019 ANNUAL REPORT New Public Space in Midtown East

Begun nearly 15 years ago, Pershing Square West was completed and opened to the public at the end of May 2019.

Instantly embraced as though it

6 had always existed, the plaza 7 quickly became a bustling public space enjoyed by thousands daily. GCP monitors the plaza like it does the rest of the area’s streetscape, providing basic BID services. It Pershing Square West also offered programming in the space, including a series of Saturday concerts in the warmer months of 2019. These concerts and GCP’s annual Summer Solstice VIEW, LOOKING NORTH, OF PERSHING SQUARE WEST AND GRAND CENTRAL TERMINAL Music Festival, which included a performance at Pershing Square Plaza, provided enjoyment for Pershing Square West visitors and guests to the area.

OPEN TO THE PUBLIC 2019 ANNUAL REPORT New Public Space in Midtown East

TO GRAND CENTRAL The plaza also offers an unparalleled photo opportunity, with Grand Central Terminal as the backdrop.

PERSHING SQUARE EAST

PLAZA EAST 43rd Shared 8 Street & Pershing 9 Square East

In the spring of 2019, the Department of Transportation (DOT) implemented an interim treatment on both the 43rd Street shared street and Pershing GCP leveraged this organic attraction Square East, including a temporary surface and granite with mobile signs placed daily in blocks placed for security. Concrete planters were also the plaza, alerting the public to the placed along the street and planted by GCP. incredible shot available to them. GCP is currently working with DOT and RFR Realty, the GCP also incentivized the opportunity new owner of the Building, to improve the specifically for one of the biggest interim design and create a new treatment layout for the citywide events of 2019, WorldPride, by 43rd Street shared street. Meanwhile, the design phase creating custom frames celebrating for the permanent build-out of Pershing Square East is pride and inclusivity that anyone could nearly complete. hold for a photo with Grand Central Terminal and the Pershing Square Viaduct bridge, lit in rainbow, as the background. Other Public Space Improvements

53rd Street

In May 2019, DOT completed enhancements to the corridor between Second and Fifth Avenues, improving pedestrian and vehicular safety along this east–west axis.

OTHER 10 11

RENDERING OF 53RD STREET ENHANCEMENT IN FRONT OF PUBLIC SPACE 601 LEXINGTON IMPROVEMENTS

Also in 2019, the East Midtown Public Realm Improvement Fund Governing Group voted to allocate funds for thoroughfare improvements along Lexington Avenue between 41st and 48th . 2019 ANNUAL REPORT Other Public Space Improvements

Friends of the Centerline

At the GCP Meeting of Members and Directors on November 7, 2019, MTA Metro-North Railroad President Catherine Rinaldi gave MTA TRAIN SHED REFURBISHMENT a presentation on the MTA’s plans to completely replace the Approximate sequence of work in roof of Grand Central’s train shed, located just under the street five phases: level, including the stretch of from 46th to . Because the work will necessitate removing and then replacing the Re-envision the malls by MADISON AVE PARK AVE LEXINGTON AVE REPLACING THE ROOF OF GRAND CENTRAL’S TRAIN SHED . . . street and sidewalk, including the E 57TH ST Park Avenue Malls, stakeholders studying what might have 3 along the corridor seized the opportunity to continue what the utmost positive impact Winston Fisher had begun with 2 his “Beyond the Centerline” 12 on the streetscape and 13 competition to re-envision the LOCATED JUST UNDER THE STREET LEVEL OF THE PARK AVENUE 1a MALLS . . . malls by studying what might surrounding neighborhood have the utmost positive impact Park Ave Malls on the streetscape and surrounding neighborhood. GCP is 4 project-managing this initiative with financial support from many Train shed outline of its Park Avenue stakeholders. HR&A Advisors and Global Strategy Group were retained to conduct the study and handle community and stakeholder outreach efforts. 1 Throughout 2019, GCP facilitated meetings with elected officials, 5 community boards, city agencies, and public-space advocacy E 46TH ST organizations to share thoughts and ideas about the future of WILL CREATE AN OPPORTUNITY TO RE-ENVISION THE STREETSCAPE these unique spaces once they are rebuilt. AND SURROUNDING NEIGHBORHOOD. These development and public-realm improvement projects, in addition to a range of organizational and neighborhood-wide GCT initiatives, promise to make GCP’s fourth decade of service to the E 42ND ST Midtown East neighborhood as memorable as the first three. MIDTOWN EAST

DEVELOPMENT 15 & RENEWAL CONTINUES COURTESY SL GREEN REALTY COURTESY 2019 ANNUAL REPORT Midtown East Development & Renewal Continues Tops Out Work Underway on Ahead of Schedule New JPMorgan Chase

On September 18, 2019, SL Green’s One Vanderbilt topped out at its maximum height of 1,401 feet, Headquarters making it the tallest office building in Midtown Demolition is well underway at , and the fourth-tallest building in New York City. as JPMorgan Chase, one of New York City's The building is scheduled to welcome tenants, C largest private employers, moves forward O U including Greenberg Traurig, TD Bank, and SL R T with its plan to build a new, 1,425-foot- E S Y Green itself, in September of this year and will S L tall, 2.5-million-square-foot global G R E boast a new E N headquarters on site. R EA L restaurant from TY Daniel Boulud, as JPMorgan Chase will consolidate a well as a three-story New Hilton workforce of about 15,000 employees from a variety of locations around the city into 16 observatory experience, the 17 Summit. Grand the resulting ultra-modern, fully LEED-certified, energy-efficient office tower. This new development will Vacations & also offer new public space Grand Waldorf on , as well More Hotels as provide improved public Astoria Condo transit connections, including Redevelopment Other hotel development in to the Rail Road process in the neighborhood via . JPMorgan Planned in 2019 included a Hilton Grand Redevelopment Chase attests that its “clients, Vacations hotel on 48th Street, shareholders and the surrounding At the beginning of 2019, TF Cornerstone, a Hyatt Centric at 16 East 39th Continues community would benefit from MSD Partners, and RXR Realty announced Street, and the 100th hotel this innovative project, which plans to redevelop the site of the Grand from the Pestana Hotel Group, Notched into GCP’s boundary on the would also support the firm’s Hyatt New York, building a two-million- which is its first in New York east side of Park Avenue but not actually commitment to attracting and square-foot, $3 billion office building City — Pestana Park Avenue — at in the GCP district, the world-famous retaining best-in-class talent.” that will include a 500-room Grand Hyatt 23 East 39th Street. Waldorf Astoria is currently undergoing hotel. The consortium is in the process renovations and the conversion of all of selecting an architect to design the but 375 of its hotel rooms to 375 luxury mixed-use property. residential condominium units. 2019 ANNUAL REPORT Midtown East Development & Renewal Continues

Additional Reinvestment

Probably one of the biggest is scheduled for completion renamed the Stavros Niarchos stories of 2019 was the sale of in 2020, while the GCP district’s Foundation Library — all of which Midtown East’s iconic, world- 390 Madison — redeveloped are on track to be completed this famous to RFR by L&L on behalf of Clarion year. Holding LLC and Signa Holding Partners and the New York State The renovation of 601 Lexington’s GmbH. Reported plans for the Common Retirement Fund — was public plaza is complete, with the building include bringing back the completed in 2019 and is now adjacent atrium set to welcome Cloud Club and an observation occupied, half of it by JPMorgan a new in 2020 from the deck on its upper floors, as well Chase employees while 270 Park creator of Dekalb Market Hall as expanding amenities for the is redeveloped. in the City Point development in public, such as restaurants and The renaming and lobby Downtown . salons. renovation of 708 , 18 Upgrades and renovations at 19 At another world-famous now known as 10 Grand Central, 535–545 and 399 architectural icon in the area, has proven very successful, with Park Avenue were completed the MetLife Building, a major the building now bringing in “Park in 2019, as was work at the Ford renovation of the lobby areas Avenue prices” for space and just Foundation Center for Social began in 2019. The extensive shy of fully occupied status. Justice. renovations by owner Tishman Other renovations are continuing, Speyer include the refabrication Other projects were finished GCP PRESIDENT FRED CERULLO SPEAKS AT THE UNVEILING AND including the renovation of the as well, including BLDG RETURN OF “MANHATTAN” BY TO THE METLIFE and installation of “Manhattan,” BUILDING’S LOBBY former Hilton New York Grand Management’s new residential a vast 55-by-28-foot mural that Central, at 304 East , was commissioned as part of the tower at 222 East 44th Street. At by new owner Westgate , RFR Holding's building’s construction in 1963 but Resorts; a lobby upgrade at removed in 2000. luxury residential high-rise, new ; a $150 million restaurant spaces, helmed by Just north of the GCP district’s repositioning of 335 Madison Joël Robuchon protégé Alain boundary but also in the Avenue (now known as Verzeroli, opened in 2019 and Midtown East rezoned area, Company) as a “vertical tech have already garnered Michelin L&L Holding Company’s 425 Park campus”; and the reimagining of stars. Avenue redevelopment project the Mid-Manhattan Library, to be 2019 ANNUAL REPORT Midtown East Development & Renewal Continues

270 Park 399 Park DEVELOPMENT IN Avenue PROGRESS OF JPMORGAN RENOVATION CHASE HEADQUARTERS COMPLETE

390 Madison REDEVELOPMENT COMPLETE, NOW OCCUPIED REDEVELOPMENT IN PROGRESS

One Vanderbilt TOPS OUT AS MIDTOWN'S 299 Park Avenue DEVELOPMENT & REINVESTMENT TALLEST OFFICE BUILDING LOBBY UPGRADE IN PROGRESS 601 Lexington PUBLIC PLAZA RENOVATION AROUND THE NEIGHBORHOOD Hilton Grand Waldorf Astoria COMPLETE Vacations HOTEL-TO-RESIDENTIAL at a glance DEVELOPMENT IN RENOVATION IN PROGRESS PROGRESS

535–545 Fifth Avenue Chrysler Building 100 E 53rd Street RENOVATION COMPLETE SOLD TO RFR HOLDING ALAIN VERZEROLI’S RESTAURANTS OPEN

10 Grand Central 20 Stavros Niarchos Company 21 RENOVATION IN LOBBY RENOVATIONE 5 5TH Foundation Library PROGRESS COMPLETE ST E 5 4TH RENOVATION IN PROGRESS ST E 5 OF THE FORMER MID- 3RD ST MANHATTAN LIBRARY E 52 ND MetLife Building ST E 5 LOBBY RENOVATION 1ST ST IN PROGRESS E 5 0TH Pestana Park ST E 4 9TH Avenue ST E 48 Ford Foundation Center DEVELOPMENT IN TH ST PROGRESS E E 46 E V for Social Justice TH 47 A S TH K T S R T A RENOVATION COMPLETE E P 45 TH ST

Hyatt Centric E Grand Hyatt 44 TH DEVELOPMENT IN ST REDEVELOPMENT PLANNED PROGRESS E 4 222 E 44th Street 3R D ST NEW RESIDENTIAL TOWER E 42 COMPLETE ND ST E V GRAND A H E 4 CENTRAL T 1S IF T F ST E TERMINAL V A E 40 N TH O S IS T D A M E 39 TH E V ST A K R E A E 38 P V TH A

ST N 304 East 42nd Street O T G RENOVATION IN PROGRESS OF THE FORMER E 37 IN TH X E ST L HILTON NEW YORK GRAND CENTRAL

E V E E A 3 V 6 D A TH R S I D T H T N O C E E S 35 TH

ST NEIGHBORHOOD

PROMOTION & 23 PROGRAMMING GROW 2019 ANNUAL REPORT Neighborhood Promotion & Programming Grow

Summer Solstice Music Festival

With the continuing support and enthusiasm Neighborhood of GCP district property owners, GCP produced Marketing its second annual Summer 24 25 Solstice Music Festival on June 21, a terrific event that Initiative has quickly become one To support current and future real estate of the neighborhood’s investment in the neighborhood, GCP worked annual highlights. Drawing with Grey New York to create a branding and inspiration from Paris’s marketing campaign. Fête de la Musique and championed by Bill Rudin, The campaign — including a complete design CEO and Co-Chairman solution and the tagline “Access to Everything is of Rudin Management Everything”— was approved by directors and Company, the event stakeholders in 2019. included live musicians Since its approval, elements of the campaign performing everything design, such as color selections, font, and from salsa to classical to copy guidelines, are informing or being woven rock at 13 area properties into various projects, including GCP’s website along Park Avenue. redesign, design aspects of Grand Gourmet, and this report.

ABOVE: CAMPAIGN-INSPIRED AD IN OCTOBER 29, 2019, ISSUE OF THE COMMERCIAL OBSERVER, PHOTOGRAPH BY GCP 2019 ANNUAL REPORT

26 PROGRAMMATIC 27 Grand Gourmet Cipriani 42nd Street served as the new location for the return of UPDATES GCP’s long-time signature event, Grand Gourmet – The Flavor of Midtown®, on February 5, 2019. First held in 2000, this annual tasting gala highlighting the neighborhood’s culinary icons, hopping bars, and chic lounges had been on hiatus as a search was done for a new venue. With event and collateral design assistance from Grey New York, Grand Gourmet 2019 was the most successful yet, with net proceeds of $50,000 going to support homeless services in the neighborhood. GCP thanks the 2019 sponsors, including Citi, JPMorgan Chase, ABNY, Bloomberg, Con Edison, Delta, The Durst Organization, Fisher Brothers, Fortuna Realty Group, Greenberg Traurig, Kalikow, MetLife, REBNY, Rudin Management Company, SL Green Realty, , and Vornado Realty Trust, once again, for their immense support. 2019 ANNUAL REPORT Programmatic Updates

Field Operations

In 2019, the Field Operations Division (comprised bike racks, and other street furniture — for OVERVIEW of 141 employees who make up the Public Safety, damages and graffiti. In 2019, it took the Field Sanitation, and Tourist Greeter departments) Operations team approximately two hours, on • Public Safety spent 212,961 hours keeping the streets and average, to remove graffiti or stickers from the • Sanitation FIELD OPERATIONS DIVISION sidewalks of the GCP area safe, clean, attractive, time they were reported. Out of a total of 4,597 • Tourist Greeter and welcoming — something GCP has done reported changes in asset conditions, 97.6% (up COMPRISED OF 141 EMPLOYEES since its official creation as a BID in 1988. from 96.5% in 2018) were discovered by GCP Field Operations staff. This data is compiled as part In the course of their patrol, maintenance, and of the Field Operations team’s use of the native DEDICATED greeting duties, GCP’s Field Operations team 212,961 HOURS to serving the GCP area digital app GCP commissioned in 2015 to track members also checked GCP’s streetscape status and any damage to its street assets. RESOLVED assets — including planters, streetlight poles, reported changes in asset conditions 4,597 distinctive multiunit newspaper boxes, benches, 28 29

In 2019, GCP’s team of tourist greeters logged history of the neighborhood, Grand Central 15,979 hours answering 85,630 inquiries from Terminal, and historically and architecturally TOURISM & VISITOR SERVICES tourists, commuters, and local New Yorkers at significant sites nearby. The popular tours, led by TOURIST GREETERS three sidewalk information carts stationed in urban historians Peter Laskowich and Madeleine and around Grand Central Terminal. Since the Levi, ran every Friday, beginning at 12:30 p.m. LOGGED LED 15,979 HOURS TOUR program began, GCP’s tourist greeters have During 2019, GCP’s tour guides led 2,382 people on ANSWERED GUIDES provided assistance to 14,163,757 individuals. a total of 104 tours. 85,630 INQUIRIES GCP’s mobile information carts are stocked with from tourists, commuters, and locals on brochures and pamphlets through an agreement ONE OF GCP’S ASSISTED A TOTAL OF 2,382 PEOPLE with CTM Media, which — in 2019 — paid $103,062 “THE GRAND 14,163,757 INDIVIDUALS TOUR” TOUR since the program began 104 TOURS in supplemental income to GCP, an increase of GUIDES, MADELEINE 11.7% over the previous year. “MADDY” LEVI, WITH A TOUR GCP also continued its long-standing sponsorship GROUP GENERATED of two free lunchtime tours that focus on the MOBILE INFO CARTS $103,062 in supplemental income up 11.7% from 2018 2019 ANNUAL REPORT Programmatic Updates

During 2019, GCP Public Safety officers logged Public Safety personnel on patrols around PUBLIC SAFETY 87,055 hours on patrol, increasing the quality of the neighborhood to address quality-of-life life in the neighborhood. Over the course of their infractions and criminal activity. This patrol takes OTHER patrol hours, Public Safety officers responded to place from 8 a.m. to 8 p.m., Tuesday through 28 % GCP PUBLIC SAFETY OFFICERS VENDING- 2,391 field conditions, with approximately 22% Friday; noon to 8 p.m. on Saturday; and 8 a.m. to RELATED 22 % related to vending, 30.3% related to situations 4 p.m. on Monday. LOGGED A

S on patrol where individuals appeared homeless and/ S 87,055 HOURS GCP Field Operations directors and supervisors I S

T or were panhandling, and 19.9% related to

E TYPES OF

D RESPONDED TO maintain close contact with representatives of the SITUATIONS members of the public needing medical 2,391 FIELD CONDITIONS three NYPD precincts that cover the Grand Central assistance. MEDICAL neighborhood, as well as the commanding ASSISTANCE According to recent statistics provided by the officers from the MTA Police Department at Grand 19.9 % HOMELESSNESS/ 250,314 PASSENGERS PANHANDLING NYPD CompStat Report, year-on-year changes Central Terminal. Also, the GCP Public Safety staff at GCP’s main taxi-dispatcher queue, outside Grand Central Terminal 30.3 % in the seven major felony categories were – 4.1%, engages with building management security, – 4.5%, and 27.4% respectively in the Midtown hotel security, and property management, to South, Midtown North, and 17th Precincts. help foster closer ties. Annual crime was down 88.8%, 81.7%, and 84.3% NYPD COMPSTAT MIDTOWN NORTH 17TH GCP’s main taxi-dispatcher queue, located just respectively in these three precincts over what PRECINCT* PRECINCT* PRECINCT* outside of Grand Central Terminal on the corner of REPORT it was in 1990. Note that not all crime incidences 30 East 42nd Street and , continues 31 reflected by these statistics necessarily occurred to be extremely helpful to taxi riders, especially Year-on-year changes within the GCP district’s boundaries, as these 4.1% 4.5% 27.4% during inclement weather and the busy holiday in the seven major felony categories precincts all incorporate different areas of GCP’s seasons. Taxi-dispatcher services at this location district but also extend well beyond it. are provided daily, from 7 a.m. to 11 p.m., Monday Changes since 1990 In 2019, GCP continued its participation in the through Friday, and 8 a.m. to 11 p.m. on Saturday in the seven major felony categories 88.8% 81.7% 84.3% NYPD “Paid Detail” program, whereby off-duty and Sunday. GCP Public Safety officers assisted uniformed NYPD officers accompany GCP 250,314 passengers into taxis in 2019. * Precincts incorporate different areas of GCP’s district but also extend beyond it

In 2019, GCP’s Sanitation team members logged SANITATION TEAM 109,927 hours of cleaning and collected 156,049 SANITATION bags of trash from GCP’s 291 trash receptacles A GCP LOGGED around the district. They also removed or SANITATION of cleaning WORKER 109,927 HOURS cleaned 2,902 instances of graffiti and stickers. EMPTIES A GCP COLLECTED GARBAGE CAN 156,049 BAGS OF TRASH from 291 trash receptacles

ADDRESSED 2,902 INSTANCES of graffiti and stickers 2019 ANNUAL REPORT

Homeless Outreach

GCP continued its engagement of Breaking Ground, one of New York City’s largest homeless outreach and housing service providers, to supplement outreach within the district and provide services to the neighborhood’s transient and homeless population. This relationship with Breaking Ground underscores GCP’s desire to find help and housing for those who need it most. Because many individuals living on New York City’s streets are resistant to traditional shelter services, Breaking Ground’s outreach focuses on finding solutions for chronically homeless individuals who will not stay in the traditional shelter system. In 2019, Breaking 32 33 Ground provided case management to 31 chronically Capital homeless and service-resistant people in the district. Since GCP began its relationship with Breaking Ground, the Breaking Ground team has placed 170 chronically Maintenance homeless individuals in housing. The Capital Maintenance team members are the In addition to providing case Finding solutions for stewards of GCP’s neighborhood streetscape management for the chronically assets. homeless, the GCP Breaking chronically homeless Additionally, the team provides project Ground team engaged management and oversight on GCP’s behalf individuals who appeared to individuals who with regard to neighborhood projects be homeless and to need social undertaken by the City or the private sector, services 4,745 times in 2019, at will not stay in the including the 43rd Street shared street and an average of 94 people per Pershing Square West and East. month. As a result, many of these traditional shelter individuals received a variety In addition to overseeing construction projects of services, such as medical, system that will further enhance the street-level psychiatric, and dental, as well experience in the GCP district, the Capital as clothing and food donations. Maintenance team was responsible for the following streetscape improvements in 2019: 2019 ANNUAL REPORT

HORTICULTURE approach to the viaduct have had their lighting elements upgraded to LED GCP conducts an ambitious year-round by DOT Bridges, who has also added horticultural program on the streets of the sensors that turn the lights off in daytime. Grand Central neighborhood. This past GCP is in the process of working with year, GCP’s seasonal plantings again DOT Bridges to paint these lamp posts to helped to brighten and beautify the match the two lamp posts on the viaduct entire district. These plantings included balustrade. almost 10,000 daffodils and tulips in combination with many other varieties of plants and flowers — close to 24,000 SIGNATURE STREET total — in GCP’s planters, elevated LIGHTING baskets, and tree pits, and in the Park After the successful conversion to energy- Avenue malls it maintains throughout the efficient, cost-reducing LED fixtures THE FIRST SPRING PLANTING IN THE DISTRICT GOES IN, THANKS TO GCP’S year. EXTENSIVE HORTICULTURAL PROGRAM 34 of the rooftop lighting systems that 35 illuminate Grand Central Terminal and the HISTORIC PARK AVENUE illuminated street signs on GCP’s streetlight GRAND CENTRAL LONG ISLAND RAIL VIADUCT LAMP POSTS poles, the Capital Maintenance team is in the process of converting GCP’s 934 metal NEIGHBORHOOD ROAD EAST SIDE The historic lamp post that GCP restored halide streetlight fixtures to LED. as part of Grand Central Terminal’s REGULATORY SIGNAGE ACCESS PROJECT The team looked at prototypes and centennial celebration in 2013 has been PROGRAM The Capital Maintenance team successful conversions at neighboring placed — along with a second restored is also GCP’s liaison to various BIDs before awarding a contract for In 2019, under GCP’s agreement with DOT lamp post, courtesy of Metro-North — on entities and agencies who fabrication to Sentry Electric, LLC, and governing GCP’s stewardship of the street the balustrade carry out projects in the district, for installation to E-J Electric Installation signage in the district, the GCP Capital where they originally appeared including the $10 billion East Co. Fabrication of the new fixtures was Maintenance team fulfilled 77 work when the terminal first opened. GCP is Side Access project, which is completed in 2018, and installation across orders and swapped out more than 155 determining ways it may be able to expected to be completed all of GCP’s signature streetlight poles signs, as part of the City’s Clear Curbs/ complete the restoration of additional in late 2023. GCP continues to began on September 15, 2018. More than Clear Lanes initiative. lamp posts that once lined the viaduct provide assistance to those half of all fixtures were converted in 2019, around the terminal. overseeing this project and to with completion of the conversion project disseminate key information Additionally, the eight lamp posts expected in 2020. positioned along the elevated roadway to stakeholders whenever necessary. 2019 ANNUAL REPORT Programmatic Updates

TECH INITIATIVES findings, drive conclusions, and foster External engagement. GCP provided pedestrian counts, census data, retail vacancy Smarter Streetscapes rates, and other data points it compiles, Affairs Urban Tech Showcase and the firm created GCP’s “Data Story,” detailing the GCP district, in particular, The Department of External On April 3, 2019, GCP hosted an urban but also aspects of the larger Midtown Affairs is responsible for GCP’s tech showcase at Company (formerly East area. communications, including known as 335 Madison Avenue), where marketing, branding, and six tech start-up companies presented promotion. It also compiles applications of their technology Numina/Citiesense various data related to the products that could be used to help As a result of their participation in GCP’s neighborhood, including increase GCP’s operational efficiency. Smarter Streetscapes Urban Tech commercial and retail leasing Showcase, tech start-up Numina was activity, pedestrian counts, and Website Refresh engaged by GCP to deploy state-of- 36 demographic data. the-art technology to track GCP trash 37 After issuing an RFP and interviewing bags at several pick-up locations in three firms, GCP selected VGD the district. The goal is to collect data to make its website — www. on waste collection and removal that grandcentralpartnership. could inform operational decisions nyc — responsive, or able to conform COMMUNICATIONS around deployment of field staff and to whatever device (tablet, iPhone, In addition to producing vendor resources. Android, desktop computer, etc.) a GCP’s annual report, weekly visitor uses to view it. This refresh also The pilot also involves another start-up e-newsletter, social media provides an opportunity to update the tech company, Citiesense, with whom postings, and website content functionality and content of the website GCP already contracts to provide updates, the External Affairs team to better serve GCP’s, and its visitors’, mapping visualizations of data and also “listens” for mentions of GCP, needs. information. Citiesense maps the data its stakeholders, and its interests collected by Numina’s sensors, allowing using a news aggregator, GCP to comprehend the information disseminating news of note Datastory spatially. internally and via “good news” In 2019, GCP contracted with the firm digest newsletters sent out to the Datastory, who creates visualizations of GCP community. what can be dry data points, to lay out 2019 ANNUAL REPORT Programmatic Updates

1,007,435 DATA COMPILATION & ANALYSIS PEOPLE DEC. 2019 E 5 5TH ST E 5 4TH ST E 5 3RD Neighborhood Business Survey Pedestrian Counts ST E 52 ND ST E 51S 965,367 T S Every month, the External Affairs department conducts a GCP continues to count pedestrian traffic T E 5 0TH PEOPLE ST E 4 walking survey of the district to track street-level, arcade, 24 hours a day, 365 days a year, at nine DEC. 2019 9TH ST E 48 TH and second-floor retail business types, vacancies, and ST intersection corners: E E 46 E V TH 47 A S TH K T S R T A other data. From the end of 2018 to the end of 2019, there E P 45 TH ST

E was an increase in total spaces occupied (831 to 841), 44 TH ST

E 4 3R an increase in D ST

E YEAR-ON-YEAR 42 vacant spaces ND ST GRAND E 2019 V 2018 A

CHANGES H E CENTRAL 4 T 1S (89 to 97), and IF T F ST E TERMINAL V A E 40 N an increase in TH O S IS T D A TOTAL SPACES OCCUPIED M 831 841 E 39 the number of TH E V ST A K R E A E 38 38 P V 39 spaces in build- TH A

VACANT SPACES ST N 89 97 O T E G 3 IN out (15 to 19). In the 7T H X E ST L

SPACES IN BUILD-OUT E 15 19 V same period, E A 3 6 D TH R S I T H total occupiable T E TOTAL OCCUPIABLE SPACES 35 935 957 TH

spaces in the ST 404 FOOD AND DRINK BUSINESSES 413 district increased from 935 to 957. GCP analyzes the data compiled Also in 2019, GCP issued an RFP to solicit The food and drink category of businesses — already at these locations to gain insight counting-technology companies to the largest category, at roughly half of all businesses into traffic volume and patterns at propose new strategies and tech to count in the district — increased by about 2.2%, year-on-year some of the neighborhood’s busiest pedestrians and possibly compile other (with 404 in 2018 and 413 in 2019). intersections. Counts along Fifth Avenue data points. At the end of 2019, the retail vacancy rate in the GCP and 42nd Street were down slightly in district was approximately 10%. Notable openings in the 2019, generally, compared to 2018, but district in 2019 included Bergamo’s, Bandit, Jet Set Candy, were up, generally, on Madison and , Sticky’s Finger Joint, and The Escape Lexington Avenues. In December 2019, for Game, as well as Le Jardinier, Shun, and Bar Shun (all in example, 965,367 people passed the 100 East 53rd Street). northwest corner of Madison Avenue and 45th Street, while 1,007,435 passed the northwest corner of Lexington Avenue and . 2019 ANNUAL REPORT Programmatic Updates

Lunar New Year 2019 For Lunar New Year 2019, GCP again partnered with sister BIDs Madison Avenue, East Midtown, and Chinatown to produce a special Lunar New Year shopping event on Madison Avenue from 42nd to . The 2019 celebration included the designation of “wishing trees” on the SPECIAL EVENTS stretches of Madison Avenue that fall in each of the respective BID districts. A 9/11 Memorial Service The External Affairs team also produces events that traditional aspect of Lunar New Year On Wednesday, , 2019, GCP contribute to the quality of life in the area: creating celebrations, red ribbons were offered joined St. Bart’s in holding their annual opportunities to welcome the public to the community, to shoppers at nearby shops along the service in memory of those lost on 40 improving business-to-business relationships, and 41 thoroughfare to hang from the trees, September 11, 2001, with special tribute marketing the neighborhood to workers, shoppers, thereby making wishes for the new to those from nearby FDNY Companies, tourists, and local residents as a year-round event and year. including Engine 21, Engine 8, and Ladder shopping destination. In addition to playing a major role 2 of Battalion 8. As it has every year since in producing Grand Gourmet and the Summer Solstice 2002, GCP underwrote the music for the Music Festival, the team was involved in producing the choral portion of this service. following events: Trick-or-Treat Midtown East In support of Grand Central Terminal’s “Trick or Treat the Terminal,” as well as neighboring BID East Midtown Partnership’s “Trick-or-Treat with East Midtown,” GCP’s External Affairs team marketed the entire Midtown East neighborhood as THE safe, attractive, and central locale for New Yorkers to bring LEFT: PHOTOGRAPH BY ANDREW WERNER RIGHT: PHOTOGRAPH BY GCP their kids for Halloween. 2019 ANNUAL REPORT Financials

2019 2018 FINANCIALS SUPPORT AND REVENUES

2019 2018 Unrestricted: Assessment revenue $ 12,709,372 12,709,372 ASSETS Program service income 461,511 417,305 Cash and cash equivalents $ 387,019 1,616,874 Contributions 435,000 — Program revenue receivable 150,434 84,948 Pershing Square rental income, net 269,804 250,749 Investments 4,936,083 5,998,023 Special events: Prepaid expenses 431,420 446,504 Event income 229,115 — Bond funds held by trustee 1,025,900 1,019,606 Less: related direct costs (176,994) — Property and equipment, net 7,439,645 6,713,167 Net special event income $ 52,121 — Bond issuance costs, net 60,405 84,565 Investment income $ 373,045 186,374 Security deposits 116,286 116,286 Net assets released from restriction: TOTAL ASSETS $ 14,547,192 16,079,973 Satisfaction of purpose restrictions — — TOTAL SUPPORT AND REVENUES $ 14,300,853 13,563,800

42 LIABILITIES AND NET ASSETS 43

Liabilities: EXPENSES Accounts payable and accrued expenses $ 664,082 497,224 Program Expenses: Deferred income 87,993 85,961 Public safety $ 2,844,230 2,558,851 Deferred rent 234,820 154,558 Sanitation 3,816,747 3,449,795 Accrued bond interest 138,500 172,300 External affairs 1,698,741 1,526,637 Bonds payable 5,726,639 7,563,660 District-wide maintenance 2,942,487 3,037,126 TOTAL LIABILITIES $ 6,852,034 8,473,703 Horticulture 493,934 576,403 Social services 282,405 230,794 Commitments and contingencies* Tourist greeters 389,172 431,237

TOTAL PROGRAM EXPENSES $ 12,467,716 11,810,843 Net Assets: Without donor restrictions $ 7,383,051 7,606,270 Supporting Services: With donor restrictions 312,107 ­— Management and general $ 1,744,249 1,751,895 TOTAL NET ASSETS $ 7,695,158 7,606,270 TOTAL EXPENSES $ 14,211,965 13,562,738

TOTAL LIABILITIES AND NET ASSETS $ 14,547,192 16,079,973 INCREASE/(DECREASE) IN NET ASSETS $ 88,888 1,062 NET ASSETS, BEGINNING OF YEAR $ 7,606,270 7,605,208

*These Combined Statements of Financial Position and Activities of the Grand Central NET ASSETS, END OF YEAR $ 7,695,158 7,606,270 Partnership, Inc. and the Grand Central District Management Association are provided by Skody Scot & Co., CPAs, P.C. and are for years ended June 30, 2018 and 2019. Full audit available at www.grandcentralpartnership.nyc/about/reports-and-data. 2019 ANNUAL REPORT OFFICERS & BOARD OF DIRECTORS OFFICERS &

Officers Board of Directors David R. Greenbaum Susan Mendik James Whelan Gaston Silva* Bernard H. Mendik Company LLC Paimaan Lodhi* Peter S. Kalikow, Chair Adam F. Abramson Vornado Realty Trust Carly Miller Real Estate Board of New York Michelle Adams, Vice Chair Alan B. Abramson* Mark C. Grossich Nicole Mahon* Alan H. Wiener Abramson Brothers, Inc. Alfred C. Cerullo, III, President/CEO Hospitality Holdings, Inc. PGIM Real Estate Multifamily Capital Michelle Adams Rochelle Patricof, Vice President Molly Hollister Marla Miller Tishman Speyer Claude L. Winfield* Major League Baseball Properties Marc Wurzel, Assistant Secretary Vikki Barbero Manhattan Community Board Six Howard P. Milstein Statutory Directors John L. Mascialino, Treasurer Manhattan Community Board Five Peter S. Kalikow Stephen Rossi* Hon. , Mayor of the City Robert Adinolfi, Assistant Treasurer Robert L. Billingsley Richard T. Nasti* Milstein Properties of New York Whitnee Williams* H.J. Kalikow & Co., LLC Morris Moinian Cushman & Wakefield N. Richard Kalikow Nicholas Moinian* Hon. Scott Stringer, Comptroller of Louis Brause Jonathan Kalikow* Fortuna Realty Group the City of New York David Brause* Gamma Real Estate David V. Politano Hon. Gale Brewer, Manhattan Brause Realty, Inc. 44 Andrew D. Levin MetLife 45 William G. Cohen Properties Michael J. Regan Hon. Keith Powers, Member, New Jarad Winter* Patrick Leyden Ramon Martinez* York City Council, District 4 Newmark Knight Frank Manuel Carbajal* JPMorgan Chase & Co. Frances Delgorio Fitzpatrick Hotel Group Brett Greenberg* Peter L. Malkin RFR Holding LLC Jack Resnick & Sons, Inc. Fred Posniak* John Schafer Peter S. Duncan Malkin Properties Matthew Coudert* John L. Mascialino George Comfort & Sons, Inc. Norman Sturner Edward C. Wallace* Murray Hill Properties Steven M. Durels Greenberg Traurig, LLP Lawrence A. Swiger* John J. Whalen Duncan McCuaig John J. Whalen, III* SL Green Realty Corp. Jeremiah Larkin* Fisher Brothers Douglas D. Durst Brookfield Office Properties Jordan Barowitz* The Durst Organization Patrick J. Foye Transportation Authority John J. Gilbert, III Nicholas Martin* BOARD Rudin Management Company, Inc.

2019 *Alternate Directors OF DIRECTORS 2019 ANNUAL REPORT

N NEIGHBORHOOD MANAGEMENT E 54TH ST MAP MUSEUM OF 601 LEXINGTON MODERN ART  CENTER Alfred C. Cerullo, III, President/CEO E 53RD ST GRAND CENTRAL Marc Wurzel, General Counsel E 52ND ST BUSINESS George Twill, Vice President for Project Planning IMPROVEMENT Special thanks E 51ST ST Robert Adinolfi, Comptroller/CFO ST. PATRICK’S ST. BARTHOLOMEW'S DISTRICT CATHEDRAL CHURCH Steve Schwartz, Assistant Comptroller to President/CEO Alfred “Fred” C. Cerullo, E 50TH ST Christopher Bautista, Bookkeeper III for 20 years of hard work leading E 49TH ST Rochelle Patricof, Vice President for Administration & the Grand Central Partnership and for his commitment to the continuous Operations E 48TH ST improvement of the Midtown East area. Kent Grzeczka, Director of Capital Maintenance E 47TH ST Janice Lohmann, Administrative Assistant PARK AVE PARK

Duane Roggendorff, Director of External Affairs E 46TH ST 46 Paula Horowitz, Director of Hospitality & Special Events E 45TH ST Times METLIFE Square BUILDING Ryan Pukos, Senior Project Manager UNITED E 44TH ST NATIONS Lindsay Eason, Director of Field Operations GRAND LEXINGTON AVE LEXINGTON THIRD AVE AVE FIRST MADISON AVE MADISON AVE VANDERBILT FDR DR SECOND AVE SECOND FIFTH AVE CENTRAL Alberta Ancrum, Deputy Director of Field Y GCP E 43RD ST TERMINAL 43RD ST SHARED STREET Operations ONE CHRYSLER FORD FOUNDATION VANDERBILT BUILDING CENTER FOR Barry Newman, Dispatcher/EEO Counselor E 42ND ST Pershing SOCIAL JUSTICE PERSHING Square Plaza Tudor SQUARE PLAZA Bryant

, Dispatcher B PHOTOGRAPH West East City Inginio Valentin, Jr. Park LIBRARY WAY E 41ST ST Anthony Stuckey, Operations Coordinator NEW YORK PUBLIC LIBRARY Blerina Blojaj E 40TH ST

Ricardo Ferguson VIADUCT AVE PARK Julian Herrera E 39TH ST Frank T. Johnson Field Supervisors E 38TH ST Bright Kpeme TUNNEL EXIT ST Kenneth Lind E 37TH ST THE MORGAN Benito Madera R LIBRARY & MUSEUM E E 36TH ST V I

Wilbert Ray R

T S

Mavelyn Wilson, Office Manager E 35TH ST A E EMPIRE STATE Trina Swinson, Executive Assistant BUILDING Photography—Goor Studio Ronald De La Cruz, Administrative Assistant (unless otherwise noted) fb.com/GrandCentralPartnership @ grandcentralpartnership @ gcpbid

www.grandcentralpartnership.nyc