Deal with Top LICH Bid Faces Hurdles Wall St. Goes Nuts Over These Mad

Home , Les Moonves, The Firm (hip hop group)

GOTHAM GIGS ILLMATIC ! Filmmaker’s hip-hop doc to open CRAIN’S® NEW YORK BUSINESS Tribeca P. 1 0

VOL. XXX, NO. 14 WWW.CRAINSNEWYORK.COM APRIL 7-13, 2014 PRICE: $3.00 Wall St. goes nuts over these Mad Men Recent ad-tech IPOs raise expectation that similar Silicon Alley startups will go public

BY MATTHEW FLAMM

Advertising-technology companies, which have taken the mystery out of Don Draper’s old business and replaced it with algorithms, got a big boost last week with the initial public offering of the Rubicon Project ad exchange. The stock spiked more than 30% above its $15 opening price—and though Rubicon is based in Los Ange- les, its success inspired cheers and a sigh of relief across the ad-tech sector in New York, where at least a half- dozen companies are considered can- WHAT LIES BENEATH: didates for an IPO. A worker from Optical Ad tech may be among the most ar- Communications Group cane sectors in Silicon Alley, requiring checks on one of the See AD TECH on Page 28 company’s fiber-optic cables. Deal with top LICH Crossed Wires bid faces To make broadband BY MATTHEW FLAMM 1 gigabit per second (50 times faster service than what most New Yorkers faster and cheaper Mayor Bill de Blasio talks of making experience) for $70 a month. hurdles broadband cheaper and faster. One so- But New York’s subterranean sys- in slow and pricey lution may be lying beneath his feet. tem—built for telephone lines after As vetting process A vast conduit system runs the Great Blizzard of 1888 and owned New York, look no through Manhattan and the Bronx since 1891 by Empire City Subway, or begins, would-be that could support a thriving broad- ECS—also highlights the challenges operator’s plan further than ... band marketplace—or a municipal the city faces in updating its broad- fiber network similar to the one in band infrastructure. Like much of un- raises red flags galore down Chattanooga, Tenn., which delivers derground New York, portions of the See FIBER on Page 27 BY BARBARA BENSON buck ennis When the State University of New York announced last week that Brook- 14 REPORT HEALTH CARE lyn Health Partners was the top candi- 5 It’s a race to the stratosphere as hospital date for consideration to take over its Long Island College Hospital cam- executives pull in mega-millions P. 15 pus, community activists and unions celebrated the promise of a full-service THE LIST Top hospital salaries P. 19 hospital operating in Cobble Hill, NEWSPAPER See BROOKLYN on Page 28 71486 01068 0 EDITOR’S NOTE

Pulse of NY FYICRAINSNEWYORK.COM

I introduced myself last month to a similarly solo stranger at a cocktail High-speed trading reception before the annual dinner of the Citizens Budget runs into trouble Commission. “ ‘Editor of Crain’s,’ ” ast week, high-speed trading was she repeated enthusiastically.“Do transformed from a nerdy topic of you know Barbara Benson?” I get interest only to Wall Street traders that a lot, especially when the Glenn Coleman L and regulators to the target of public questioner is a New York hospital outrage.The catalyst, of course, was executive, as this stranger-no-more Michael Lewis’ book Flash Boys, but New turned out to be. It was as if I were her conduit to a York state Attorney General Eric fabulously unobtainable celebrity, like Beyoncé. Schneiderman has done his bit by That’s our Babs: She is a rock star (though hardly a announcing an investigation into the istockphoto diva) in the wild world of New York health care, the business, which he colorfully described as “Insider Trading 2.0.”Then last Friday, U.S. Attorney rare journalist who knows as much about the state’s General Eric Holder confirmed an FBI probe into the practice. ¶ High-speed traders use cutting- multibillion-dollar health care industry as its biggest edge technology to dart in and out of shares at lightning speed and also use their gadgetry to get players do. And often knows more. “I hadn’t even a glimpse of what the market is doing milliseconds before others. The concern is that these told my board yet!” more than one CEO has traders use their edge to relentlessly front-run other investors and force them to pay higher prices. marveled in a voicemail or email after reading a The fact that a high-speed trading firm called Virtu Financial recently disclosed that it lost money Barbara Benson news story. Really, there’s only one trading only one day in the past five years suggests certain traders enjoy considerable—and thing an editor can do with such a talent: Ask her to maybe illegal—advantages. ¶ High-speed advocates vigorously denied last week that anything is join your senior management team. I am pleased to amiss, but the ground is quickly shifting. Manhattan-based Virtu last week said it would delay its inform our thousands of Barbara Benson fans that planned initial public offering. And Goldman Sachs said it would leave the New York Stock she has been promoted to assistant managing editor Exchange trading floor and would support rules to rein in high-speed trading. —aaron elstein of Crain’s New York Business. From her new perch, Barbara will lead the further expansion of the Crain’s Health Pulse newsletter franchise that she has built, BYE-BYE, BLYTHE. Blythe Masters,the ping a board seat. The move comes head of JPMorgan Chase & Co.’s three years after it invested $204 HOORAY! scoop by scoop, into New York’s leading source of commodities unit and one of the million in the bookstore chain. Lib- JUNKET-FRIENDLY local hospital and health care industry information. highest-ranking women on Wall erty will have a stake of less than 2% Brooklyn cheerleader She’ll help us break more news through the daily Street, is leaving the investment in the bookseller, which will be free Marty Markowitz ARTSY lands his dream job Health Pulse, deliver more analysis through our bank after 27 years on the job. to develop its own strategy. ... selling the world on JPMorgan is selling parts of that di- TO GO GLOBAL. The website, a one- the five boroughs explanatory journalism online and in print, and vision to a Swiss trading firm for stop art shop, has raised $18.5 mil- for NYC & enlighten one of the city’s most vital and complex $3.5 billion. ... NY IS TAXING. For the lion in Series B funding led by ven- Company. industries through thoughtfully programmed third straight year, New York state ture firm Thrive Capital. The residents had the highest tax burden Manhattan-based startup plans to conferences that bring together the leading figures in in the nation, according to a report use the funding to expand interna- the field. I’d call all that a healthy development for by the Tax Foundation.New Yorkers tionally. Artsy’s founder, Carter New York business. spent 12.6% of their per-capita in- Cleveland, and Thrive Capital’s OY VEY! come on state and local taxes in managing partner, Joshua Kushner, DESPITE 2011. This is attrib- are members of this an “A” grade, uted to the state’s ‘For whatever year’s Crain’s 40 Un- Dominique Ansel high income- and Bakery—home of THIS WEEK IN CRAIN’S der 40 class. ... the Cronut—was property-tax rates, reasons … POTENTIAL CITI BIKE shuttered after a RELIEF. IN THE BOROUGHS------3 and high property Sen. Charles mouse was values and salaries. ... despite their Schumer introduced spotted. IN THE MARKETS------4 TAVERN ON THE GREEN successes … legislation that, if THE INSIDER ------6 TO BLOOM. After four passed, would per-

years and a $20 mil- morale in this mit bike-share istockphoto SMALL BUSINESS ------6 lion renovation, the organization membership to be REAL ESTATE DEALS ------8 Central Park restau- purchased with pre- year,a 14% jump from the same time rant will reopen was awful’ tax dollars, allowing a year earlier, according to Douglas BUSINESS PEOPLE------10 April 24. The —Police Commissioner the money-losing Elliman Real Estate. Average price OPINION ------12 eatery’s new owners Bill Bratton, alluding to the Citi Bike to raise its and average price per square foot for spent the past two NYPD’s stop-and-frisk era prices while having the quarter also hit the highest lev- GREG DAVID------13 years dealing with the federal govern- els since the brokerage started track- REPORT: HEALTH CARE------15 construction and fi- ment offset some or ing the market 15 years ago. ... nancial snafus.Reservations are now all of the cost increase on riders. ... LATER, DAVE. Late-night television NEW YORK, NEW YORK THE LIST ------19 LIBERTY MEDIA APARTMENT SALES HIT NEW HIGHS. Larry Kaye is moving from a being accepted. ... host David Letterman,66,will retire CLASSIFIEDS ------TURNS PAGE. law career to producing a play 24 John Malone’s media The median price for a Manhattan from CBS in 2015 after 33 years on company is slashing its stake in condo and co-op reached a record two networks. on Broadway. P. 29 SOURCE LUNCH------30 Barnes & Noble by 90% and drop- $972,428 in the first quarter of this —emily laermer

CORRECTIONS (SEE PAGE 27)

VOL.XXX,NO.14,APRIL 7,2014—Crain’s New York Business (ISSN 8756-789x) is published week- STORIES TO WATCH THIS WEEK ly,except for double issues the weeks of June 23, July 7, July 21, Aug. 4, Aug. 18 and Dec. 22, by Crain Communications Inc., 685 Third Ave., New York, NY 10017. Periodicals postage paid at New York,N.Y.,and additional mailing offices.Postmaster: Send address changes to: April 8: April 10: April 10: April 11: Crain’s New York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, 32BJ and Realty City Council slated Mayor Bill de JPMorgan Chase MI 48207-2912. for subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 one Advisory Board to vote on Domino Blasio’s “first 100 to announce 1Q year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2014 by Crain Communications Inc. All rights reserved. meet to discuss Sugar factory’s days” speech earnings (first NYC expiring contracts. redevelopment bank to report)

2 | Crain’s New York Business | April 7, 2014 IN THE BOROUGHS BROOKLYN In Bath Beach, the tide turns Chinese replace Italians as area’s dominant force

BY CHRIS BRAGG

Bath Beach, a neighborhood in the far reaches of southern Brooklyn that runs along the Belt Parkway, just inland from Gravesend Bay, gets the first part of its name from the famous English spa town. And though it’s hard to believe—looking at the area’s main drag, gritty 86th Street—a century ago it had its own alluring stretch of sand that served a similar function for New Yorkers as the Hamptons serves today. The beach disappeared in the building boom following World Estate tax’s grave outcome War II, as a wave of Italian immi- grants moved in. Now Bath Beach buck ennis is seeing another monumental shift. But when Kevin Matz did the math on the new to lower-tax states—the opposite of what Gov. More than 20 years after Italian- New law exempts most, but law, he could not believe what he found. Andrew Cuomo was trying to achieve. American families began selling for the rich, NY will still be The White Plains-based attorney and certi- The main thrust of his effort was to increase their homes to newer groups of im- fied public accountant discovered that when what New Yorkers could pass to their heirs tax- migrants and decamped for more an expensive place to die wealthy New Yorkers die, the taxable portion of free, thus eliminating the tax for 90% of the es- suburban settings on Staten Island their estates could be slammed by a 164% tax. tates that were larger than the old $1 million ex- and New Jersey, the neighborhood The number was so absurd that when he posted emption. The threshold will rise by $1.0625 has finally reached the tipping BY THORNTON MCENERY it on a LinkedIn page for estate-planning pro- million annually through April 1, 2017, saving point. The Chinese-American fessionals, the first colleague who replied asked New Yorkers (and costing the state) $380 mil- population has overtaken the Ital- Estate-tax changes unveiled in Albany last week if Mr. Matz had forgotten the decimal point. lion over three years.On Jan.1,2019,the exemp- ian residents in terms of their num- were billed as a reprieve for estates worth up to “I hadn’t,” he said. “There is a serious cliff tion will jump to the inflation-indexed federal bers. Today, it’s far easier to find a $5 million and sustaining the status quo for larg- problem in this reform.” level, which by then will be about $5.8 million. restaurant serving Peking duck er ones, with the state’s top rate remaining 16%. The new law could drive aging New Yorkers See ESTATE TAX on Page 28 See BATH BEACH on Page 14 Son of paid sick days: A bill STATS AND THE CITY by Nicholas Wells TECHNOPHILES: A pair of studies released last week reveals how tech calls for paid vacation weeks jobs are growing in fields from computer science to finance and transforming the workforce and economy of New York City.

INCREASE in the high-tech sector’s share of tempt to capture the populist mo- reached and become tone-deaf to gross city product between 2003 and 2012 Firms with 10-plus mentum from the expanded paid- the needs of the private sector.That 36% workers would have sick-leave law that had just gone may be one reason why the bill ap- AMOUNT of venture capital into effect. “I’m not sure.” pears to be DOA for now—even $3.2Binvested in the New York area to cover up to four “Bills get jumbled in my head,” Mr. Williams said it was too soon in 2013, up more than 130% from 2003 he later admitted. after the expansion of the paid- weeks of time off sick-leave law to consider this new PORTION of citywide tech jobs at measure. 52%nontech companies—for example, BY ANDREW J. HAWKINS Businesses see The bill’s origins suggest that the the Web developer at a Wall Street bank issue lacks the institutional support A bill introduced in the City Coun- another case of that drives much legislation in the PORTION of scientific research cil late last month would require City Council. Unlike the paid-sick- 59%and development jobs in the businesses with 10 or more employ- a city tone-deaf leave bill—drafted over several city held by women, the only tech field in ees to provide then with up to four years by then-Councilwoman Gale 2013 in which women outnumbered men weeks of paid vacation leave. to their needs Brewer and her legislative staff, The legislation caught many along with advocacy groups like A PORTION of Google’s 3,600 council members and business lead- Better Balance, Make the Road 39%NYC-based employees who ers off guard.The mayor’s office stu- New York and the Working Fami- are in nontech jobs— from sales associates diously avoided taking a position. lies Party, and eventually aides to to janitorial staff

Even the bill’s lead sponsor sound- For businesses already having to then-Speaker Christine Quinn— Sources: New York Academy of Sciences, Pricewa- ed slightly flummoxed last week comply with paid sick leave, the va- the paid-vacation bill appears to terhouseCoopers’ MoneyTree Report, New York City Tech Ecosystem report

when pressed for details. cation bill was further evidence that have emerged with no apparent istockphoto “I don’t think so,” said Brooklyn city government under Mayor Bill backer other than Mr. Williams. Councilman Jumaane Williams, af- de Blasio and Council Speaker Even the bill’s other co-sponsor, ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY ter Crain’s asked if the bill was an at- Melissa Mark-Viverito had over- See VACATION on Page 27

April 7, 2014 | Crain’s New York Business | 3 IN THE Thank You! MARKETS by Aaron Elstein

or 80 years, FEGS has delivered a broad range of workforce and staffing solutions to the New York community of employers and businesses. This year FEGS assisted nearly 10,000 Fpeople find employment and over 135,000 New Yorkers lead independent and successful lives. We are grateful to our partners in the employer community for making our Strictly Business breakfast a tremendous success.

Special thanks to our host, Alair Townsend of Crain’s New York Business, keynote speaker, Tara Walpert Levy, Managing Director of Global Ads Marketing for Google and YouTube and FEGS board member, and this year’s Corporate Honorees, Macy’s, People Care, and Unitex and our sponsors: AT&T Coye Nokes People Care Bestcare, Inc. Custom Dimensions Robert Half Burlington Stores CVS Caremark ShoreGroup, Inc. Cantor Fitzgerald Relief Fund Garfunkel Wild, P.C. Skadden, Arps, Slate, Century 21 Department Stores Macy’s Meagher & Flom LLP CityMD Nautica United Energy Consultants Community Health Care NYSID Preferred Unitex bloomberg news Association of NYS Source Solutions Even Goldman Learn about FEGS’ workforce solutions www.fegs/workforce.org CALL: 917.606.6543 feels earnings chill A Beneficiary of

he stock market is again flirting with record highs, and all manner of fledgling companies are holding Tsuccessful initial public offerings. But amid all that plenty, business on Wall Street remains in such a deep funk that not even Goldman Sachs can lift its chin. The bank is expected to show a 23% decline in earnings when it reports first-quarter results next week.The good news is that Goldman bankers who work in IPOs may be busy these days. But almost none of their colleagues are.

First-quarter revenue from restricts banks from using their trading bonds, commodities and capital to gamble in the markets or currencies, for instance, is expected hold big investments in private to come in 15% lower than last year, equity or hedge funds. according to brokerage firm Keefe The Volcker Rule poses a prob- Bruyette & Woods. The steepest lem for Goldman,because it gener- declines,however,will come from a ated about a fifth of its revenue in nearly 50% drop in revenue on recent years from activities that are Goldman’s own investments in pri- now verboten under the rule. For vate equity, real estate and other instance, the bank has $7.5 billion deals, which it must cut back any- worth of investments in private- way in coming years as new regula- equity funds and about $2 billion in tions take effect. hedge funds, according to a report Now, there are plenty of things last week by ISI Group analyst Goldman and Chief Executive Glenn Schorr. Although the per- Lloyd Blankfein (above) can do to formance of these investments can shore up flagging results while vary wildly from quarter to quarter, Our commitment is your success. waiting for business to pick up. over time they have been quite Foremost,the firm can cut pay,per- profitable for Goldman,generating sonnel or both,which it has done in returns of up to 18%.That’s signif- recent years.The percentage of rev- icantly higher than the 11% return- enue that goes to pay Goldman em- on-equity generated by the bank ployees has shrunk to 38% in recent overall last year. Rivkin Radler has a proven track record that is more than 60 years strong. We are committed years, down from the 50% it rou- Thanks to the Volcker Rule, the to delivering success for our healthcare clients. By proactively identifying new trends, issues, tinely hit in better times. firm is going to have to sell most of and opportunities and developing effective strategies to address them, we help providers But whatever numbers Gold- these holdings in the next few years and businesses in the industry remain vibrant in the new healthcare economy. man reports next week, it faces big and look for ways to replace the lost challenges in the coming years as it revenue and its high returns.That’s tries to comply with the Volcker Rule. no easy task, even for the smart That regulation, you might recall, folks at Goldman. Ⅲ

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4 | Crain’s New York Business | April 7, 2014 /RWXV)7HDP Platform

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Productivity Social learn more at microsoftcloud.com THE sio sought to block three new killed despite lawmakers’ failure to the city to provide rent-free space Success Academy school co- adopt reforms favored by Mr. for charter schools. Mr. de Blasio INSIDER locations in New York City, but a Schneiderman, such as publicly was repeatedly portrayed in the by Chris Bragg and Andrew J. Hawkins multimillion-dollar ad campaign financed elections. media as having been outfoxed by and some behind-the-scenes Mr. Cuomo. orchestration by Mr. Cuomo led to ● Jeff Klein: Critics of the a legislative deal that neutered the budget deal are putting ● Estate lawyers: The mayor’s power to stem charter pressure on the state Sen- budget phases in higher Budget deal’s winners and losers schools’ growth—and indeed com- ate co-leader’s alliance exemptions to New pels him to aid it. with the GOP’s Mr. Ske- York’s estate tax (Page t the end of March, two days before the state’s fiscal los. Mr. Klein (right) was 3), shrinking the cus- year began April 1, elected leaders in Albany approved ● Manufacturers and banks: The unable to push through a tomer base for estate- a $137.9 billion budget. Some emerged from the deal state’s small but growing manufac- full plan for publicly fund- planning specialists by turing sector received a 20% real ed elections, and if his as much as 90%. By A ap images politically or financially stronger. Others were not so lucky. property tax credit, while a pesky forthcoming attempt to 2017, competition for bank tax was eliminated, giving a resurrect it fails, he faces a well- the few remaining clients who face WINNERS leader (left) lived up to boost to upstate factories and financed primary challenge from estate-tax liability will be fierce. his early promise that downstate financiers alike. Democrat Oliver Koppell, a former ● Andrew Cuomo: As is there would be no vote state attorney general and City ● Thomas Prendergast: The state usually the case, the gov- on Mr. de Blasio’s tax ● The right wing: Liberals are having Council member. budget diverted $30 million from ernor got most of his top hike. The Long Island their moment in New York City, the Metropolitan priorities: tax relief for Republican shepherded but in Albany, Mr. Cuomo cut ● Bill de Blasio: The mayor Transportation Author- upstate, tax cuts for the governor’s business- corporate and estate taxes while (right) walked away from ity, leaving its chairman wealthy downstate inter- tax cuts and new protec- leaving out the left’s priorities like the budget fight with with that much less to

ests, money for ap images tions for charter schools the Dream Act and publicly fund- $300 million for universal maintain a system still prekindergarten (sans through the upper cham- ed elections statewide. prekindergarten but little recovering from Super- the tax hike on the rich sought by ber without ostensible resistance else besides battle scars. storm Sandy. It could Mayor Bill de Blasio) and addi- from his Democratic partners. There was no tax hike to have been worse: Mr. tional education funding that pla- Now Mr. Skelos can turn to LOSERS pay for pre-K or speed Cuomo had originally

cated teachers’ unions. Ratings charter-loving hedge-fund man- cameras for his Vision ap images proposed a $40 million agencies smiled upon agers when raising cash ● Eric Schneiderman: The attorney Zero traffic-safety plan. reduction. But the raid the governor: Moody’s for his conference’s elec- general’s high-profile fight with Albany chipped away at the mayor’s perpetuated a pattern that figures rewarded the state with tion battles this fall. Mr. Cuomo over JPMorgan Chase control of city schools, requiring to repeat in future years. a “credit positive” grade settlement funds ended in the for passing its fourth ● Eva Moskowitz: The backrooms of Albany, with Mr. consecutive on-time founder of Success Cuomo and the Legislature quietly $4,373: Amount per second New York budget. Academy Charter taking the remaining $440 million. Schools (left) showed the Meanwhile, the Moreland Com- state is spending under the budget ● Dean Skelos: The state muscle of her movement. mission, which was investigating approved last week Source: Empire Center for Public Policy Senate majority co- bloomberg news In February, Mr. de Bla- corruption in the Legislature, was

SMALL BUSINESS

ago and had sales last year of more than $10 million. Indie real estate brokers fight turf war John Reinhardt, president and chief executive of Brooklyn’s Fill- Kensington—has amped up its ad- more Real Estate, a residential and Local players raise vertising and marketing to compete. commercial firm with 367 agents, game to compete “We’re just fighting harder,” said said the competition “just makes us Ms. Leone. sharpen our tools and stay on top of with expanding Many independent firms like our game.” His firm, which sold hers—small by design and long properties worth more than $500 Manhattan firms ubiquitous in the outer boroughs— million last year, is opening a new have had to do the same as larger office in Bedford-Stuyvesant and competitors expand into residential rebranding itself as Fillmore Brook- BY TRIPP WHETSELL markets outside Manhattan. lyn this month. Its biggest recent sale, in March, was a mixed-use re- my Leone,a head sales- Surviving through rentals tail store with two 3,000-square woman and partner at For Manhattan’s major real es- foot, two-bedroom apartments on Brooklyn-Real in Cob- tate players, inching into the city’s Atlantic Avenue for $2.9 million. ble Hill,was shocked to other boroughs is nothing new. To attract homebuyers,Aleksan- get a call two years ago However, in the past few years— dra Scepanovic, who co-founded Afrom a nearby landlord that residen- amid escalating prices and a market- Brooklyn residential and commer- tial powerhouse Douglas Elliman wide inventory shortage—the com- cial firm Ideal Properties with planned to open a new office across petition for clients has become boyfriend Erik Serras in 2007, has buck ennis the street. something of a turf war,according to HOLDING THEIR GROUND: Brooklyn-Real’s Frances Kopito, Amy Leone and Mary LaRosa Lederer hosted art shows at some properties “It was a hard blow, and I never Boerum Hill residential broker Toni have invested in raising their firm’s profile through advertising to compete in a tough market. she is showing—like a recent one expected it to happen,” said Ms. D’Andrea, who has been active in featuring Brooklyn artist Mary Leone, a 19-year industry veteran, the area for more than two decades. Chang’s work at 184 Joralemon St. who declined to share the firm’s rev- She said D’Andrea Craig Realty, Queens.The firm is also eyeing As- to open a Brooklyn office sometime The 135-person firm has grown to enue for publication.“It totally came her six-person, 10-year-old firm, toria and “hasn’t faced too many ob- later this year; he is also considering $12 million in annual revenue, with out of left field,and at first I was like, survives mainly through rentals. “I stacles so far,” said Sarah Burke, El- Queens. offices in Cobble Hill, Gowanus, ‘We have the corporate giant mov- feel bullied because some of the liman’s executive vice president of Park Slope and Williamsburg. ing in on the corner. What are we larger firms aren’t willing to share sales in Brooklyn. Going it alone “There’s a lot of demand for going to do now?’ ” listings with us,” she said. Corcoran,which first set up shop Some local brokers aren’t fazed every type of housing, and I think “We’re hanging tough, but it’s Corcoran Group and Douglas in Brooklyn in 1998, has long dom- by the competition. any type of brokerage should be able definitely getting a lot harder,” con- Elliman are among the big firms inated in Williamsburg. Mean- “I realized a long time ago that to capitalize right now,” Ms. ceded Mary LaRosa Lederer, who gaining traction.Elliman opened its while, Halstead Property expanded it’s not so much your company Scepanovic said. founded Brooklyn-Real in 2006. first office in Long Island City, its presence in the area to five offices you’re selling, but rather your own The seven-person residential Queens, last year and is staffing up by acquiring independent Aguayo knowledge and ability to deliver,” To sign up for Crain’s and commercial brokerage—whose all seven of its locations in the outer Real Estate Group last April. said Anne Donohue, formerly of SMALL BUSINESS newsletter, go to recent sales included two multifam- boroughs: five in Brooklyn, one in In addition, Warburg Realty Coldwell Banker, who hung out her www.crainsnewyork.com/smallbiz. ily buildings for $2.5 million in the Bronx, and one in Bayside, President Fred Peters said he plans own shingle in Bayside five years

6 | Crain’s New York Business | April 7, 2014

“Some people want it to happen, some wish it would happen, others make it happen.” —Michael Jordan

For the 17th consecutive year, CBRE has led the way in New York City’s GHDOPDNLQJ2Q&R6WDU·VOLVWRI7RS0DQKDWWDQ2IÀFH/HDVHVIRU published in Crain’s New York Business, CBRE held the #1 spot, completing QHDUO\KDOIRI0DQKDWWDQ·VWRSWUDQVDFWLRQV³DOOWROG³LQFOXGLQJ WKHÀYHWRSGHDOVDQGWKHRQO\GHDOLQH[FHVVRIRQHPLOOLRQVTXDUHIHHW

Thank you, New York, for once again helping us make it happen.

www.cbre.com/nyc REAL ESTATE DEALS PLUS

BARE BONES uptick in leasing down- hood’s strides provide evi- 40 W. 57TH ST. town, according to Joseph dence that the market will Odds looking up for Harbert, president of Col- be ready to lease 3 WTC by ASKING RENT; liers International’s Eastern the time it’s done. Already, TERM: $85-$95 per square foot; 10 years Region operations. Mr.Silverstein has a leasing The lower availability commitment from media SQUARE FEET: new WTC tower 13,500 comes despite major and advertising company amounts of empty space re- GroupM to take roughly TENANT; REP: Two irst-quarter office-leasing numbers in Manhattan are in, and at maining downtown. Those Larry Silverstein 500,000 square feet at the Creeks Capital Management; Christophe DiFalco of least one real estate executive says they provide evidence the Port vacancies have spurred con- property. DiFalco & Fernandez Authority of New York and New Jersey should go ahead and cerns over whether the Port Author- “Companies are increasingly LANDLORD; REP: The LeFrak pony up expanded financial guarantees for a gargantuan new of- ity should provide a $1.2 billion moving downtown because their Organization; Howard Fiddle of CBRE fice tower at the World Trade Center. financial guarantee for 3 World Trade workforce lives in Brooklyn and Group Inc. FAccording to Colliers International,the availability rate downtown—the Center, a 2.8 million-square-foot New Jersey, and so lower Manhat- BACK STORY: The boutique financial amount of vacant space plus what is expected to be empty during the next skyscraper that developer Larry Sil- tan is an incredibly convenient loca- firm took prebuilt space on the 18th year—shriveled to 14.4% in the first quarter, from 16.1% a year earlier. The verstein wants to raise at the site. tion for them,” Mr. Harbert said. floor of the 34-story building. drop was the largest of any office market in Manhattan and was driven by a major Mr. Harbert feels the neighbor- —daniel geiger Newest mall lands big makeup chain A national beauty retailer recently took 11,400 square feet at The Mall at Bay Plaza, the shopping center cur- rently under construction in the north Bronx. Ulta Beauty, which boasts about 550 stores across the country, signed a 10-year lease, and hopes to open its doors later this year. “[The company] will be a tremendous addition to The Mall at Bay Plaza, with its roster of major national tenants,” said Jayson Siano of Sabre Real Estate Group, who,

LEASING UP: The Mall at Bay Plaza

along with colleague Doug Bomzer, represented the tenant. Macy’s, Victoria’s Secret and H&M have already signed up at the mall. Macy’s agreed to take 160,000 square feet back in 2011. Asking rents vary widely, ranging from $100 per square foot to $200 per square foot. The mall is slated to be completed by late summer. The massive influx of retail space is sorely needed in the area, according to Welco Realty principal Jerry Welkis,who said in January that the surrounding neighborhoods, including Co-op City, are underserved. Mr.Welkis represented the landlord, Prestige Properties & Devel- opment,in the Ulta transaction,and noted the mall will eventually com- plement the adjacent 1.3 million- square-foot Bay Plaza Shopping Center. Prestige Properties bills the mall as the first to be built in New York City in 40 years, and is dropping about $270 million on development, according to previous reports. —joe anuta

8 | Crain’s New York Business | April 7, 2014 The Urban Campus

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EXECUTIVE MOVES

Shawmut Design and Construction: Les Hiscoe, 48, was promoted to president of the construction management firm. He previously held the position of chief operating officer. Macy’s: Jeffrey Gennette, 52, was promoted to president of the department-store chain. He was previously chief merchandising officer. Tiffany & Co.: Ralph J. Nicoletti,56, joined the luxury jeweler as executive vice president and chief financial officer. He was previously executive vice president and chief financial officer at Cigna. KeyPoint Government Solutions: Eric Hess, 49, joined the provider of security-clearance background investigations and screening services as chief executive. He was previously chief operations officer of First Advantage Corp. The New York Times Magazine: Jake Silverstein, 38, joined the magazine as editor. He was previously editor in chief of Texas Monthly. JASA (Jewish Association Serving the Aging): Michael Stoller,62,was promoted to chief of government and external affairs, a newly created MAKING HIS MOVE: position, at the social-services agency. First-time filmmaker He was previously the executive and chess maven director of the human-services council One9 at work in the editing room at JASA. OPERA America: Kurt Howard,53, joined the service organization for opera as managing director, a newly buck ennis created position. He was previously producing director at the Fort Worth Opera. GOTHAM GIGS Metropolitan Museum of Art: Sandra Jackson- Dumont, 44, joined the museum as Frederick P.and Director’s timing is Illmatic Sandra P.Rose chairman of education, effective in May. She was previously the Kayla After 10-year toil, filmmaker’s rap doc opens Tribeca Skinner deputy director for education and public programs and adjunct It sounds like a Hollywood script: A first-time to tell Nas’ story. ¶ By then, One9 had graduated curator for modern and ‘It was so contemporary art at the Seattle Art director who has been toiling on a documentary from the University of Maryland, worked as a Museum. hard to for 10 years finally finishes it, and the movie is part-time teacher, painted large-scale murals for Houlihan Lawrence: Anne Marie Gianutsos, 31, joined the real estate selected to open a major film festival.That’s the D.C.’s Parks Department and had his paintings in brokerage firm as director of digital, a process,’ story of director One9’s movie, Time Is Illmatic, several shows. He began learning about video newly created position. She was previously associate publisher for One9 said which will debut at the Tribeca Film Festival on while working at BET as a graphic designer, later Epicurious and ZipList, digital April 16. ¶ “There was no emotion at first [when editing a short film that aired on PBS called Can’t divisions of Condé Nast. about his I heard about the selection] because it was so hard Hold Me Back. ¶ Along the way, One9 secured VP+C Partners: Lisa Jasper, 33, was promoted to senior vice president at film-fest to process,” said One9, 42, who started using the funding from the Ford Foundation and Tribeca the public-relations firm. She was name when he was a graffiti artist in Washington, Film Institute. ¶ He’s also continuing to paint— previously vice president. Mount Sinai selection D.C. ¶ His movie explores the making of hip- and indulging in his love of chess. Last year, he Innovation Partners: hop artist Nas’ first album, Illmatic, an important got a contract from Brooklyn’s Barclays Center to Erik Lium, 46, joined the division of the work in the genre that was released 20 years ago create portraits of performers who have starred Icahn School of this month. “The timing is crazy,” said One9, who there. He portrayed Jay-Z, also a chess player, as Medicine as vice was born Michael Baluyut Silverman. “It just feels the king in a chess set. Every day, the director president and executive director. perfect.” ¶ One9’s quest to make the film started makes a move on each of 10 different computer He was previously when he accompanied a friend to make a video of chess games he plays simultaneously with assistant vice chancellor for innovation, technology and alliances at the Nas’ father, the jazz musician Olu Dara.They opponents across the globe. “Chess teaches you University of California, San Francisco. came away with four hours of video and the desire patience,” he said. —theresa agovino Adconion Direct: Shirlene Chandrapal,

10 | Crain’s New York Business | April 7, 2014 42, joined the cross-channel digital CORPORATE LADDER advertising company as senior vice president of connected TV. She was formerly senior vice president of AOL CREATES ‘RELATIONSHIP MANAGER’ POST connected TV at Smartclip. 100 Resilient Cities: Maxwell Young,30, AOL, WHICH HAS BEEN REMAKING ITSELF since its 2009 spinoff from Time Warner, tapped veteran marketing executive Kim joined the urban-building organization Kadlec last week to lead its growth as a “partnership company.” In the newly created position of head of relationship as communications director. He was management, Ms. Kadlec will build “strategic distribution partnerships with leading, large-scale organizations,” AOL said. previously New York communications “The short-term mission is to quickly identify a number of key global partners that can help to make a significant director and deputy state director in the office of Sen. Charles Schumer. impact on AOL—to give [AOL’s] content further reach, and give AOL a bigger global footprint,” Ms. Kadlec said. Fidelis Care: Nilsa Cedeño, 41, was Previously worldwide vice president of Johnson & Johnson’s global marketing group, Ms. Kadlec, 50, will focus on promoted to director of government expanding the audience of AOL and its properties, which include The Huffington Post and its live-streaming network, relations at the health insurance provider. HuffPost Live; a slew of short-form original video series; and an assortment of lifestyle, business and news sites. She was previously manager of CEO Tim Armstrong said the position had been in the works for the past year. “We’ve invested in a whole bunch of operational audit. products, services and content that could get distributed out to a larger ecosystem on the Internet,” he said. “Twitter, Lisa DeRoché, 44, joined as director of human resources. She was previously Facebook, YouTube, Alibaba in China—basically the companies that are making the world move. Her job is to work with senior director and human-resources our top 50 partners.” Ms. Kadlec will report to Mr. Armstrong and to Susan Lyne, CEO of the brand group. AOL’s total business partner at Axa. revenue grew 13%, to $679 million, in the fourth quarter, compared with the prior-year period. —MATTHEW FLAMM Alicia Delmont,37, was promoted to vice president of claim operations. She was previously assistant vice president of government relations. Josiah Mooney, 35, was promoted to assistant vice president of long-term-care products. He was previously director of product development and corporate innovation. Services for the UnderServed: Arlo Chase, 43, joined the nonprofit human-services agency as vice president of real estate We are not interested in rainbow chasers, wannabes, and property development. He was previously a principal at Alembic ‘fraidy cats, coneheads, airheads, talking heads, Community Development. Customers Bank: Namia Sultana, 28, joined as assistant vice president and social climbers, rock climbers, rock stars, name manager of private and commercial banking. She was formerly an administrator at Globo Mobile Inc. droppers, ball droppers, ball dodgers, meanies, Peter J. Solomon Co.: Mark Boidman, 38, was promoted to managing weenies, preeners, big talkers, small talkers, bad director at the investment-banking mouthers, mouseketeers, boys, bad boys, gals, pals, firm. He was previously a director. Jeffrey Jacobs, 41, was schmos, schmoes, joe shmoes, or average joes. promoted to managing director. He was previously a director. Alpha Omega Financial Systems: Stuart Schwartz, 41, joined as managing director and head of sales. He was formerly director of sales at Markit. Polsinelli: Michael Herman, 39, joined the law firm as counsel in the real estate finance practice. He was previously an associate at Cassin & Cassin. Curtis Mallet-Prevost Colt & Mosle: Shaya Rochester, 39, joined the law firm as a partner in its restructuring and insolvency practice group. He was formerly senior counsel at Akin Gump. Segal McCambridge Singer & Mahoney: Andrew Dean,31, joined the law firm as We are interested in you. associate attorney. He was previously a litigation associate at Simon Lesser. ABC News: Raymond W. Kelly, 72, joined as a consultant and expert commentator on law- enforcement issues. He was previously New York City police commissioner. Sayles & Winnikoff Communications: Michelle Lauren Addo, 26, was promoted to senior account executive at the boutique public-relations firm. She was previously an account executive. Kalli Dionysiou, 25, joined as account executive. She was previously social- media and public-relations account manager at HLD Communications. —nazish dholakia

EXECUTIVE PROMOTIONS The fastest way to get an announcement into Crain’s is to submit online. Fill out the form at www.crainsnewyork.com/section/ James Wacht | 212.776.1202 | [email protected] | leeassociatesnyc.com executive_moves. The Executive Moves column is also available online.

April 7, 2014 | Crain’s New York Business | 11 OPINION CRAIN’S NEW YORK BUSINESS

Lost opportunity on ethics editor in chief Rance Crain publisher, vp Jill R. Kaplan local prosecutors by the commission will be aggressively EDITORIAL ew Yorkers don’t trust their state editor Glenn Coleman legislators much, and with good reason: pursued. Many district attorneys in New York were elected managing editor Jeremy Smerd deputy managing editors Valerie Block, At least 30 have left office since 1999 with help from the very politicians targeted by these probes. Erik Ipsen because of transgressions ranging from Mr. Hikind, for one, delivered a key endorsement to the assistant managing editors Barbara Benson, Erik Engquist inflating their expenses to sexual eventual winner of last year’s Brooklyn district attorney race. senior news producer Amanda Fung harassment to taking bribes. Countless The reforms did include some positive steps, such as contributing editor Elaine Pofeldt columnists Greg David, Steve Hindy, Alair Townsend other lawmakers have kept their seats making it illegal to offer or solicit a bribe (previously, the senior reporters Theresa Agovino, Aaron Elstein, Lisa Fickenscher, Matthew Flamm, despite illicit or unethical activity. corrupt exchange actually had to be consummated).The state Daniel Geiger, Adrianne Pasquarelli And beyond legislators’ criminal behavior, their legal Board of Elections got new enforcement powers, and some reporters Joseph Anuta, Chris Bragg, N Andrew J. Hawkins, Thornton McEnery activities also sow distrust—for example, promoting bills or penalties were stiffened. But the threat of punishment doesn’t reporter/videographer Ken M. Christensen steering funding on behalf of special interests, campaign deter politicians who don’t think they will be caught, which news producer Emily Laermer web reporters/producers contributors and other political patrons. seems to be the Nazish Dholakia, Irina Ivanova So there was great public support when Gov. Andrew prevailing sentiment in art director Steven Krupinski Anti-corruption deputy art director Carolyn McClain Cuomo formed a Moreland Commission to investigate the Albany. And the Board staff photographer Buck Ennis copy desk chief Steve Noveck Legislature. Alas, last week he agreed to terminate the deal in Albany of Elections is a feckless copy editor Thaddeus Rutkowski commission in exchange for lawmakers’ passage of ethics body that, if history is data editor Suzanne Panara only erodes researchers Malik Singleton, reforms that are not likely to make much of a difference. any indication, will Nicholas Wells Mr. Cuomo’s plan all along was to use the commission as public trust neuter its new ADVERTISING, MARKETING AND PRODUCTION a cudgel to compel legislators to act. It was a reasonable enforcement counsel. sales manager Irene Bar-Am senior account managers strategy, but the governor settled for too little. In fact, it is Ironically, the state Jill Bottomley Kunkes, Courtney McCombs, lawmakers’ ethics Suzanne Wilson clear that the Moreland Commission scared lawmakers far director of custom content Trish Henry more than the reform package to which they agreed. reform deal may account executive Lauren Black sales coordinator Cynthia Hutchinson Commission investigators had dug their teeth into a actually erode public trust. It certainly did among the many events coordinator & scheduler plethora of questionable dealings. One of its cases, for good-government groups across the state that ridiculed it Alexis Sinclair credit Todd J. Masura (313-446-6097) example, involved payments by Maimonides Medical last week. Mr. Cuomo and the Legislature must go back to director of audience & content the table and hammer out a bill that inspires voters with partnership development Michael O’Connor Center to Brooklyn Assemblyman Dov Hikind’s advertising senior marketing manager company uncovered last year by Crain’s reporter Chris Bragg. confidence that New York’s elected officials are acting in the Catherine Schutten director of conferences & events There is no guarantee that the cases being handed off to public’s interest rather than their own. Courtney Williams reprint sales manager Lauren Melesio production and pre-press director Simone Pryce advertising production manager CRAIN’S ONLINE POLL COMMENTS Suzanne Fleischman Wies ONLINE AND INTERACTIVE SERVICES general manager Rosemary Maggiore web developer & digital sales The future of kosher strategist Chris Tumminello TO SUBSCRIBE: BEN’S DELI WEIGHS IN abuse services. Inadequate DISPLACED TEACHERS For print and digital subscriptions or customer treatment of severe behavioral service, e-mail [email protected] or call 877-824-9379 (in the U.S. and Canada) or While the March 17 article conditions is driving emergency “Rubber room must hit the 313-446-0450 (all other locations). $3.00 a copy for “Keep kosher? Ben’s deli pon- and inpatient costs. Integrating road” (Editorial, March 31) is the print edition; or $99.95 one year, $179.95 two ap images ders the unthinkable” may have primary and behavioral services filled with gross inaccuracies. years, for print subscriptions with digital access. WAS BILL BRATTON RIGHT left the impression that Ben’s would make possible one entry It states that “the absent- www.crainsnewyork.com/subscribe Kosher Delicatessen would point to care, facilitating pre- teacher reserve [is] also known TO ADVERTISE: OR WRONG IN HIS consider giving up our kosher vention and care coordination. as the ‘rubber room.’ ” The Contact Cynthia Hutchinson at standards, we have no inten- The state is concluding the terms are not synonymous. [email protected] or call 212-210-0145. CRITICISM OF RAY KELLY www.crainsnewyork.com/advertise ON STOP-AND-FRISK? tion to do so at this time. Un- first phase of an integrated li- The ATR is for teachers less and until we cannot get censure project that could be who have been excessed from FOR INFORMATION ON OUR EVENTS: Right. He said it like he saw it. He has the quality kosher meats and poul- expanded statewide and allow schools owing to downsizing Contact Courtney Williams at [email protected] or 212-210-0257. right to comment on his predecessor’s try at prices that allow us to for community health care or- or closing. These are teachers www.crainsnewyork.com/events performance. compete, Crain’s readers and all ganizations with multiple li- in good standing who through others can count on Ben’s for censes to be a single point of no fault of their own are exiled TO CONTACT THE NEWSROOM: Wrong. Running the NYPD is a tough job. Old World comfort food and access to primary medical and from schools they may have 685 Third Ave., New York, NY 10017-4024 Police chiefs should focus on their own work, modern-day kosher favorites. behavioral health care. Inte- taught in for years. They are editorial phone: 212.210.0277 not the past. fax 212.210.0799 —scott singer grated licensing is a first step not picked up because the city Entire contents ©copyright 2014 Crain Communications Inc. Date of poll: April 2 President & CSO to address the parts of the requires schools to include All rights reserved. ®CityBusiness is a registered trademark 157 votes Ben’s Restaurant Group Inc. health system that are “frag- teachers’ salaries in their budg- of MCP Inc., used under license agreement. mented, ineffectual and unsus- ets, and experienced teachers CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS PRIME TIME TO INVEST tainably expensive.” may cost schools twice what chairman Keith E. Crain In simplifying care for the neophytes do. Principals are president Rance Crain treasurer Mary Kay Crain In “Time for NY state to invest whole person, New York will motivated to hire less expen- Cindi Crain in primary care” (March 10), empower person-centered care sive, less experienced teachers. 13% 87% Ronda Kotelchuck makes a planning, improve outcomes “Rubber rooms” were for executive vp, operations William Morrow Right Wrong executive vp, director of strategic clear case for investing New and advance consumers’ health teachers charged with alleged operations Chris Crain York’s Medicaid waiver funds in care experience, all while sav- offenses. They no longer senior vp, group publisher David Klein primary care. It’s also time to ing money. function. vp/production, manufacturing David Kamis integrate primary care with —doug wirth —mordecai genn chief information officer Anthony DiPonio mental-health and substance- CEO, Amida Care Mount Vernon, N.Y. founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) secretary Merrilee Crain (1942-2012) FOR THIS WEEK’S QUESTIONS: CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 Go to www.crainsnewyork.com/poll to have your say. words or fewer to [email protected]. Please include the writer’s name, company, address and telephone number.

12 | Crain’s New York Business | April 7, 2014 ROBERT ALTMAN asked to serve. NYC manufacturing It is one thing to be served by a person you are used to seeing at neighborhood events. It is quite another to have that person be from needs a champion across the county, or a different borough, who does not know the neighborhood and cannot help you with lo- magine trying to fight a war without funding any troops. cal precincts, banks and networking. It would be a futile gesture.Yet in the past two city budg- Many manufacturing jobs are ets, consecutive mayoral administrations have done just higher-paying than their retail counterparts and available to peo- that in the fight for manufacturing and economic justice ple all along the education spec- by attempting to eliminate funding for industrial busi- trum, so one would think the city ness service providers in Industrial Business Zones.This mon- would want to assist their survival I here. ey should not only be restored, but increased. But this is not the message that Over the years, an excellent network of local development was sent by the Bloomberg admin- SAVE TIME! Buy Tickets Online AutoShowNY.com istration, and it is not the initial Tickets are just $15, children $5 corporations, or LDCs, has been cuts during the past few years. message sent by the de Blasio ad- created to assist small and medium- Government assistance has ministration by cutting IBZ fund- Save on discount rail and show packages with LIRR and Metro-North at mta.info size manufacturers. LDC services dropped from $4 million (which in ing. The industrial sector can only NY Waterway combo tickets also available at AutoShowNY.com range from helping them get gov- itself is quite small) to the mere $1 hope that this was a mistake by the RECORDED INFO: 800-282-3336 ernment benefits and navigate the million that the City Council re- permanent bureaucracy and not a city bureaucracy to providing net- stored to the budget last year. reflection of the new administra- For security purposes, bags may be checked. working opportunities so businesses Not only was the budget cut, but tion’s philosophy. An activity of the Greater New York Automobile Dealers Association. can work together and grow. the entities still receiving funding Manufacturing needs a champi- These services are inherently had to deliver services over a much on. And there was some hope that neighborhood-based, and as the city wider area and often beyond the new mayor would be that. A could not fund offices in every com- industrial/manufacturing business- great first step would be not only to munity, it invested in these vital es, stretching these groups too thin fund the LDCs and Industrial Busi- bridges between the companies and and leaving needs unmet. It was al- ness Zones, but also to increase the the various economic development most as if the program were being funding so manufacturers get the agencies. designed to fail by giving the LDCs help they need. A sector is watching But despite the much- that continued to be funded so to see what importance the new ballyhooed Industrial Business much area to cover that they could administration will give it. Zones created by former Mayor not possibly succeed. Michael Bloomberg, and despite Additionally, funding was con- Robert Altman is an attorney who has the program’s demonstrated return solidated in just a few organiza- industrial clients and works with local Retailers Wholesalers Restaurants Hotels Oil Dealers Social Services on investment, these entities have tions, some of which were not very development corporations to assist been undergoing serious budget familiar with the areas they were manufacturers.

it the triumph of the progressives. Read Adam Friedlander’s It has been a long time since Albany and City Hall: How to $ave Big on Workers’ Compensation there has been such a philosophical gap between the centers of the New York political scene. Call this the Call To Save Today the Great Divide marriage of Dillon’s Rule and Klein’s political acumen.

Dillon’s Rule is a legal doctrine Adam Friedlander • 800-394-7004, ext. 206 • [email protected] he powers that be in Albany rejected a plan to raise that says that local governments www.friedlandergroup.com • www.howtosavebigonworkerscomp.com taxes on the wealthy to pay for universal pre-K in have no power except that granted *Underwritten by the NYS Insurance Fund, 199 Church St., NY, NY 10007 the city.They gave short shrift to a request to allow by the state. In typical fashion, Al- bany has kept all the power. New a higher minimum wage in the five boroughs.They York City can increase only the real drastically reduced the estate tax on millionaires. estate tax without permission from They moved to simplify the bank tax in a gambit that will cost up the Hudson; it can’t even put up T cameras to catch drivers who run the state—and maybe the city—hundreds of millions of dollars red lights. So, progressives like a year.They passed a property-tax rebate whose real impact will Mayor Bill de Blasio have limited power. be to pressure local governments to Unwilling or unable to either keep tax increases under 2%, which change the law or pass the de Blasio will be done by holding down wage agenda is state Sen. Jeff Klein. The and benefit increases for municipal Democratic tide in the suburbs has workers. They guaranteed charter cost the anti-progressive Republi- schools the right to expand. cans in the state Senate their major- Call it the rout of the progres- ity. Mr. Klein led four other “inde- sives—who lost on every one of pendent” Democrats into an these issues. alliance with the Republicans based Then there is New York City, on their desire for power and their where the powers that be have more or less shared agenda. With- rushed through a toughened paid- out Mr. Klein, the Democratic Sen- sick-leave bill,are expanding living- GREG DAVID ate would be all in on those progres- wage requirements in projects that sive goals and making life miserable receive city aid and are beginning to for Gov. Andrew Cuomo. apply pressure on real estate devel- Here’s the “but.” What has hap- opers for greater affordable-housing quire companies to provide paid va- pened in Albany in the past month and other public-benefit commit- cation time.He told Crain’s Andrew is merely a skirmish. The fight will ments. J. Hawkins it was just to get “a con- be continued—in the November Oh, and there is the city council- versation started,” but everyone legislative elections and after—and man who just introduced a bill to re- knows where that talk will lead.Call the final results are far from certain.

April 7, 2014 | Crain’s New York Business | 13 IN THE BOROUGHS BROOKLYN Bath Beach’s population shifts Continued from Page 3 are on the market. businesses, but that’s because of a than pizza and pasta. The problem for them is that lack of communication,” Father On 86th Street, the change is many of the area’s new Chinese res- Gelfant said. “They’re not [shop- striking. There, businesses with idents are opting to shop in Sunset ping elsewhere] to be rude—they signs written in Chinese loom large Park. That neighborhood, just a just can’t communicate.” where Italian bakeries, restaurants mile and a half north,in recent years Changing demographics CHINESE SPOKEN HERE: and vegetable stands once did. has become the home of Brooklyn’s On 86th Street, pizza and pasta Meanwhile, pressure is mount- largest Chinese population,one that According to the most recent spots are on the way out.

ing on many of the remaining old- boasts a retail and restaurant lineup census data, in 2010, 55% of Bath buck ennis line businesses, according to the to match. For many of Bath Beach’s Beach’s nearly 30,000 residents Rev. Michael Gelfant of St. Finbar Chinese residents,language barriers were white, 30% were Asian and ulations had mushroomed by 70% roomier apartments and houses,and Catholic Church, a neighborhood make it hard to shop locally. 13% were Hispanic. But behind since the 2000 census. its close proximity to the D train. institution whose roots extend back “There’s not a lot going on at a lot those numbers, the dynamic was New Chinese residents are at- What’s more,many of the tree-lined 134 years. He notes that a number of the Italian- and Irish-American clear:The Asian and Hispanic pop- tracted by the area’s good schools, side streets are chockablock with handsome red-brick row houses and multifamily dwellings. A shared language and culture have contributed to a snowballing in the Chinese population in Bath Beach as well as Sunset Park, which in turn have helped businesses thrive. “It seems these areas are really growing because their economies are really growing,” said James Wong, program assistant at the 26-year-old Brooklyn Chinese-American Asso- ciation in Sunset Park. “The people are more involved with one another than ever, and there are more jobs.” Although Mr. Wong says there does not seem to be much in the way of tension generated by the growing dominance of the Chinese community in Bath Beach, others grouse that the new arrivals have been somewhat insular. That is a reality that poses problems not just for the neighborhood’s dwindling Italian population, but also for the Guatemalan and Russian communities that have also boomed. “Russian-speaking people might not be comfortable going into a store where only Chinese is spoken,” said Marnee Elias-Pavia, district manager for Community Board 11. Misdirected complaints Different customs and culinary traditions can also pose challenges. On a recent lunch hour at Chinese restaurant 86 Wong, an English tourist gasped over her egg drop soup when staffers carried a half-dozen freshly slaughtered pigs through the restaurant to the kitchen. Such “authentic” Chinese restaurants have been joined by a number of fruit and vegetable stands in the neighborhood. But in the margins, pizzerias and Italian bakeries can still be found, including some old-time favorites such as Tomasso’s on the still heavily Italian west end of the neighborhood. Similarly, Father Gelfant says morning mass in both English and Italian,plus a newer afternoon service in Spanish. Nearby, another Catholic parish has brought in a Chinese priest to attract new members. Father Gelfant has heard the complaints about the new residents, but, he said, they are misdirected if for no other reason that as the Chinese move in, the Italians who are selling their homes are getting “really good prices.” “A few of the Italian parishioners were complaining to me,” he recalled. “I said, ‘Don’t blame those people that moved in. Blame all the people that sold their houses.’ ” Ⅲ

14 | Crain’s New York Business | April 7, 2014 HEALTH CARE INSIDE The List NY area’s top-paid hospital executives and employees PAGE 19 ‘We don’t want to see physicians in a position where they can’t earn a living’ REPORT —Moe Auster, Medical Society of the State of New York, Page 18 Reforms alter pay model for NYS docs Obamacare shifts incentives from quantity to quality, but change is slow

BY GALE SCOTT

Until recently, most of New York state’s physicians worked in private practice and generated income by charging fees for services rendered. Few doctors were salaried. But reforms that began taking hold well before the Affordable Care Act have been chipping away at the fee-for-service method of payment for medical care. Reformers reason that getting paid for every service gives doctors and hospitals a strong incentive to order unnecessary tests and procedures. As Obamacare’s reforms continue,still more New York doctors will have incentives to shift away from fee-for-service. The goal of reformers is to tie physicians’earnings to the quality and efficiency—not the quantity—of care they provide. Pay will include hefty bonuses for doctors who embrace $14M their employ- SAVINGS TO MEDICARE that ers’ new care Montefiore kept, guidelines. in part, to share Already, as bonuses with fee-for- its doctors service pay is far less common in California and other states, where doctors tend to be employees of large health sys- Sky-high payouts tems. Some of these entities are also insurance companies.Such financial arrangements come with a istock built-in incentive to keep costs $22 MILLION MAN down. New York, however, is in retired from New Jersey’s largest Former Barnabas Health nationally had such incentive transition. Eight-figure paydays, President and CEO health system. Joseph Trunfio, presi- Ronald Del Mauro’s plans in place in 2006, but by “People want to ride out the once a rarity, could dent and chief executive at Atlantic 2012 compensation 2013,nearly 40% did,according to current model,”which pays more, become the norm for Health, made $10 million. totaled nearly $22 million: the 2013 Hay Group Healthcare said Dr. Jeremy Boal, Mount Never before have such outsized $14M Supplemental Compensation Study, released last Sinai Medical Center’s executive compensation packages appeared on executive November. vice president and chief medical NY’s top health execs Crain’s annual list of top-paid hospi- retirement plan “We’re seeing an uptick in the use officer, at a March panel discus- tal executives (Page 19).They are a re- Split-dollar life of long-term incentives as health care sion on the ongoing tug-of-war BY BARBARA BENSON flection of how large hospital systems insurance policy organizations work to align incentive between insurers and providers increasingly are putting in place long- Vested benefits plan opportunities with longer-term about the cost of medical care and in long-term Are two Jersey boys worth $32 million? term incentive plans for their execu- incentive plan desired outcomes,” said Ron Seifert, the definition of quality. In about Ronald del Mauro, the former tives so that they stick around and $4.6M vice president at Hay Group. five years, as new physician con- president and chief executive of have a financial reason to implement $870K $2.1M Performance Mr. Del Mauro’s riches hail from a tracts are signed, “then we’ll Barnabas Health, pulled in almost strategies that do not have a short- bonus rather sophisticated pot of gold: a $14 change,” he said. $22 million in 2012, the year after he term payoff. Only 14% of big systems Source: Barnabas Health’s 2012 990 tax form See SKY-HIGH on Page 16 See SHIFTING PAY on Page 18

April 7, 2014 | Crain’s New York Business | 15 REPORT HEALTH CARE

phrase “aligned with industry stand- ticle in the Journal of the American ards” because those standards have Medical Association Internal Medi- Sky-high payouts for execs been undergoing a change in the past cine,researchers examined hospitals’ few years. Quality outcomes are in- 2008 performance based on finan- creasingly important benchmarks in cial,technology and quality metrics, Continued from Page 15 years, including 26 years as CEO. ferred compensation, plus a base health care. At the same time, there among other measures. Then they million distribution from a supple- “When Mr. Del Mauro began salary and bonus of $1.9 million. is a shift in demand for hospital beds took a look at chief-executive com- mental executive retirement plan; his career, Saint Barnabas Medical In a statement, Karen Kessler, as more care is delivered in outpa- pensation in 2009. $4.5 million from a split-dollar life in- Center was a stand-alone commu- board chair of Atlantic Health Sys- tient settings. And more often, in- Not surprisingly, they found no surance policy;$2 million from vested nity hospital,” she said, adding that tem, said that while Mr. Trunfio’s surers and hospitals are striking deals association between CEO pay and benefits in a long-term incentive plan; Barnabas is “well positioned both fi- “current agreement does not have that financially reward providers for very important benchmarks, includ- and a plain old performance bonus nancially and operationally, despite these bonus provisions, his compen- better outcomes and patient satisfac- ing a hospital’s “margins, liquidity, worth $870,000.All figures on the list significant industry challenges. His sation is performance-based,aligned tion, as well as lower costs. capitalization, occupancy rates, are from hospitals’ 2012 tax forms. retirement package is a function of with industry standards and intend- mortality rates, readmission rates, or A Barnabas Health spokes- over four decades of service … and ed to assure we retain top executive Pay for performance? measures of community benefit.” woman said that Mr. Del Mauro reflects his exceptional legacy.” talent to provide the best quality of Hospital executive compensa- Researchers found wide varia- had been with the $2.6 billion The biggest chunk of Mr. Trun- care to the communities we serve.” tion, however, has not been keeping tion in what trustees chose to pay the health system for more than 44 fio’s package was $8 million in de- Pay special attention to that up with those shifts.In a January ar- CEOs of their nonprofit hospitals. Compensation trends showed some correlation to how high-tech a hospital was, and whether it had solid patient satisfaction scores. It isn’t clear whether the mega- packages given to Mr. Del Mauro and Mr.Trunfio will drive compensation trends even higher or become outliers. Trustees normally base compensation on market practice.If Let your they can demonstrate fair-market value relative to pay packages at competing hospitals, then they A study said health plan go huge CEO pay did not mean to the birds. better outcomes

DoD you see a solution to the could escalate the trend. ggrowing gaps in your benefi ts? There may well be more eight- figure compensation packages in future compensation series charts, YourY employees may. which Crain’s Health Pulse produces annually. Already, there is anecdotal evidence that salaries are creeping up. It’sIt called voluntary insurance, and almost Based on 2011 compensation, the 660 percent of employees wish their employer lowest-paid local CEO was No. 21 ooffered it1. Robert Garrett, of Hackensack Uni- versity Medical Center, who earned $1.7 million (and who ranked No. 16 In this changing insurance landscape, Afl ac has tk credit this year with $2.3 million).This year, ooffered voluntary coverage and nothing else for the lowest CEO salary was $1.7 mil- nnearly 60 years. And it shows. With a one-day lion,earned by Audrey Meyers of Val- aaverage turnaround2 for online claims, Afl ac is a ley Hospital in Ridgewood, N.J. greatg way to make employees happy, which may Little guys paid more, too makem you happy as well. Many of the names on this year’s list have been here before. Some ex- BestB of all, Afl ac comes at no direct cost to ecutives lead vast systems: NYU Langone Medical Center’s Dr. employerse like you. Just add a payroll deduction, Robert Grossman; New York-Pres- notifyn your workforce and let it fl y. byterian Hospital’s Dr. Herbert Pardes and Dr. Steven Corwin; CallC your local agent and visit Montefiore Medical Center’s Dr. Steven Safyer; and North Shore- aafl ac.com/business LIJ’s Michael Dowling. But what about the little guys? Community hospitals abound on this year’s list. The leaders of Westchester County’s Lawrence Hospital, Phelps Memorial Hospi- tal and White Plains Hospital earned big compensation packages, driven by retirement pay. One community hospital is a perennial on the list. Bronx-Lebanon Hospital Cen- 12013 Afl ac WorkForces Report, a study conducted by Research Now on behalf of Afl ac, January 7 – 24, 2013. 2Afl ac Company Statistics, October 2013, One day processing turnaround based on business ter’s Miguel Fuentes Jr. has spent days after required documents are received. Online claims available for Accident, Sickness, Cancer & Wellness claims. Coverage is underwritten by American Family Life Assurance Company decades at his institution, and ar- of Columbus. In New York, coverage is underwritten by American Family Life Assurance Company of New York. Worldwide Headquarters | 1932 Wynnton Road | Columbus, GA 31999 guably needs no retention pay. His Z131176 11/13 $1.8 million package includes about $200,000 in a supplemental retirement plan payment. Ⅲ

16 | Crain’s New York Business | April 7, 2014

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reform.For instance,physicians earn pitals have moved toward the newer more RVUs for prescribing lucrative methods of payment. Accountable Shifting pay model for doctors tests and diagnostic procedures than care organizations, or ACOs, creat- they do for patient visits. ed under health reform, let hospitals Continued from Page 15 ported, many organizations are also groups or other organizations, these “Hospitals are in a reimbursement or medical groups collaborate with But for now, even salaried physi- tying physician compensation to doctors are often finding that while environment where their physicians insurers to decide which tests and cians are still being paid based on how performance-based metrics that are their salaries are generally equal to or are still incentivized to do more and treatments are appropriate for a giv- much care they provide. About two- meant to improve health outcomes larger than what they made in private serve a bunch of patients in a lot of en medical problem, and insurers thirds of hospitals or physician prac- and patient satisfaction.About one- practice, there is a catch: that pay is ways,”said health consultant Michael then share the resulting savings by tices in the U.S.pay doctors according third of health care organizations often tied to meeting RVU quotas, La Penna, principal of the La Penna paying bonuses to providers. to clinical productivity, most often surveyed reported they are using quality metrics, or both. Group in Grand Rapids, Mich. “But The first Medicare ACO in New based on work “relative value units,” such measures. in four or five years,60% to 70% of all York was launched by Montefiore or RVUs,according to a national sur- These trends are also affecting the Bonuses for docs physician payment will be through Medical Center in 2011. Joel Perl- vey done in 2013 and released in late estimated 70% of New York doctors To get their full salaries, physi- capitation or bundled payments,” a man,the Bronx system’s chief finan- February by Sullivan Cotter and As- who, according to the Medical Soci- cians must hit benchmarks,seeing as reference to the new types of reim- cial officer, said Montefiore’s sociates, a health care compensation ety of the State of New York,have left many patients as possible, to pump bursement models intended to prod Medicare Pioneer ACO, one of the consulting firm in Chicago. private practice. Though now work- up their RVU tallies. That doesn’t doctors to deliver efficient care. first in the country to get that desig- In a related trend, the firm re- ing for hospitals, large medical necessarily meet the goals of health Some New York doctors and hos- nation, generated $24 million in savings for the Medicare program in its first year.The hospital got to keep $14 million. Montefiore has 2,700 employed physicians, and its doctors are due to get a “significant portion” of that money, he said. OUR JOB IS TO HELP MAKE Michael McGuire, CEO of UnitedHealthcare of New York and New Jersey, said that 50% of the in- surer’s spending in New York state YOUR JOB EASIER. has shifted to such “value-based” contracts, in which providers agree to try to meet measures of efficient but good care. For instance, he said, an ACO started in mid-2012 with Westmed Practice, a large multispecialty group in Westchester County, re- sulted in the group’s physicians improving their performance on nine of 10 such health-quality metrics. “In addition, they lowered costs,” said Mr. McGuire, speaking at a conference last month. The improvements triggered a bonus payment. “In the spring of 2013, we wrote Westmed a check for a little under $1 million,” he said. ‘Embryonic stage’ But there is a long way to go before such payment arrangements become the norm. According to a recent national study published online in the journal Health Services Research, about 60% of the 1,180 physician practices surveyed have not joined an ACO, and only 15% said they plan to do so. The researchers also noted that hospital-owned group practices were the least likely to become part When people are your priority, MassMutual’s healthcare nonprofit expertise is here to help. of an ACO—probably because Whether it’s consolidating multiple retirement plans, navigating filing requirements or finding ACOs try to cut back on hospital ad- missions, the study’s authors wrote. ways to help your participants retire with confidence, we simplify the process — so you and your “The accountable care organiza- employees can spend more time where it’s needed most. To learn more, call your retirement tion is in the embryonic stage,” plan professional or contact MassMutual at 1-866-444-2601, MassMutual.com/Nonprofit agreed Dr. Evan Levine, a Yonkers cardiologist and author who has written about alleged abuses of the fee-for-service system. The changes are widely seen as inevitable and unstoppable. But that doesn’t mean all physicians are happy about them. Moe Auster, vice president of legislative and regulatory affairs at the Medical Society of the State of New York, said some members are TOTAL RETIREMENT SERVICES + TPA + DEFINED CONTRIBUTION + DEFINED BENEFIT + NONQUALIFIED + bristling at the idea that the medical NONPROFIT + GOVERNMENT + TAFT-HARTLEY + STABLE VALUE + PEO + IRA profession has been singled out as abusing the practice of basing its bills on how many services it performs. ©2014 Massachusetts Mutual Life Insurance Company. All rights reserved. MassMutual Financial Group refers to Massachusetts Mutual Life Insurance “If you’re a lawyer or a plumber or &RPSDQ\ 0DVV0XWXDO >RIZKLFK5HWLUHPHQW6HUYLFHVLVDGLYLVLRQ@DQGLWVDIÀOLDWHGFRPSDQLHVDQGVDOHVUHSUHVHQWDWLYHV0XWXDO)XQG,QGXVWU\$ZDUGV “Hall of Fame” selection announced 12/2/13 by Fund Industry Intelligence & Fund Director Intelligence (Euromoney Institutional Investor) for MassMutual’s an accountant, no one sees fee-for- prior awards: Retirement Leader of the Year for industry leadership and excellence in retirement plan services, April 2012; Deal of the Year, April 2013; service as a problem,” he said. “We Ad Campaign of the Year$SULO0DVV0XWXDOLVWKHRQO\ÀUPHYHUWRKDYHHDUQHGD+DOORI)DPHLQGXFWLRQLQMXVWWZR\HDUV56 are wondering why we are even talking about this. We don’t want to see physicians forced into a position where they can’t earn a living.” Ⅲ

18 | Crain’s New York Business | April 7, 2014 THE Top-Paid Hospital Executives and Employees LIST Ranked by 2012 cash compensation njbiz / n ousto n h o k ennis k ennis aar buc buc JOSEPH TRUNFIO (No. 2), Atlantic Health System ROBERT GROSSMAN, M.D. (No. 6), NYU Hospitals Center STEVEN SAFYER, M.D. (No. 5), Montefiore Medical Center

BIGGEST RAISES THE BIG PICTURE Executive % change in base compensation Even excluding Barnabas’ Ronald Del Mauro’s $21M severance package, the top 25 hospital executives received KENNETH THOMAS BARRY EDWARD ROBERT KELLY, more of their reportable compensation outside of their base pay than other hospital employees. DAVIS, M.D. BIGA OSTROWSKY DINAN M.D. n Base compensation n Bonuses n Other compensation $3,431,313 (No. 8) (No. 25) (No. 13) (No. 5) (No. 14) $5,205,214 5.6% +40.8% +30.8% +21.9% +21.3% +11.5% 8.5% $17,376,168 $25,254,603 23.8% Employee % change in base compensation 34.6% PHILIP GUTIN, DANIEL STEIN, LAURENCE SPIER, PETER JOSEPH DISA, M.D. M.D. M.D. CORDEIRO, M.D. M.D. $30,313,133 $52,632,396 (No. 9) (No. 7) (No. 23) (No. 15) (No. 18) 41.6% 85.9% +30.3% +23.0% +21.6% +20.8% +17.3% Base compensation includes compensation from the organizations and related organizations. EXECUTIVES EMPLOYEES Based on available information in hospitals’ 2011 and 2012 990 tax forms. TOP-PAID HOSPITAL EXECUTIVES TOP-PAID HOSPITAL EMPLOYEES Cash compensation Other Cash compensation Other Rank Officer/director/trustee Hospital/system from org./from related orgs. compensation Rank Employee Hospital/system from org./from related orgs. compensation

Ronald Del Mauro,1 Barnabas Health $21,678,6572 $2,200 Mark Sultan, M.D., Beth Israel Medical Center1 $4,416,590 $36,149 1 former president and $0/$21,678,657 1 chief, plastic and $4,416,590/$0 chief executive reconstructive surgery Joseph Trunfio, $9,970,4553 $723,406 Atlantic Health System Mark Urken, M.D., Beth Israel Medical Center1 $4,319,295 $66,596 $9,970,455/$0 2 president and chief executive 2 chief, head and neck $4,319,295/$0 surgical oncology Herbert Pardes, M.D.,4 New York-Presbyterian Hospital $5,534,3025 $52,278 Peter Gross, M.D.,2 Hackensack University Medical Center $3,250,2293 -$47,8414 executive vice chairman $5,534,302/$0 3 3 former physician, $3,250,229/$0 infectious-disease specialist Steven Safyer, M.D., Montefiore Medical Center $4,393,8506 $51,204 Richard Shlofmitz, M.D., 5 $3,236,125 $47,719 4 president and chief executive $4,393,850/$0 St. Francis Hospital 4 chair, cardiology $3,236,125/$0 Edward Dinan, Lawrence Hospital Center $3,749,1687 $240,011 Robert Michler, M.D., Montefiore Medical Center $2,747,656 $51,438 5 president and chief executive $3,749,168/$0 5 chair, surgery $2,747,656/$0 and cardiothoracic surgery 8 Robert Grossman, M.D., NYU Hospitals Center $3,540,942 $606,226 Robert Goodman, M.D., St. Luke’s-Roosevelt Hospital Center1 $2,678,270 $258 6 dean and chief executive $1,770,741/$1,770,471 6 chair and attending, $2,678,270/$0 neurosurgery Steven Corwin, M.D.,4 $3,364,0159 $223,144 New York-Presbyterian Hospital Daniel Stein, M.D., 1 $2,655,928 $43,577 $3,364,015/$0 St. Luke’s-Roosevelt Hospital Center 7 chief executive and trustee 7 interim chair, obstetrics $2,655,928/$0 and gynecology Kenneth Davis, M.D., 10 $3,199,822 $57,450 Mount Sinai Hospital Jatin Shah, M.D., $2,626,9086 $73,325 8 president and chief executive $1,599,911/$1,599,911 Memorial Sloan-Kettering 8 chief, head and neck service Cancer Center $2,626,908/$0 Deborah Tascone, R.N.,11 North Shore-Long Island $2,976,11712 $251,538 9 former regional Jewish Health System $2,976,117/$0 Philip Gutin, M.D., Memorial Sloan-Kettering $2,598,204 $130,054 executive director 9 chair, neurosurgery Cancer Center $2,598,204/$0 13 Dennis Dowling, North Shore-Long Island $2,898,148 $527,822 Martin Keltz, M.D., St. Luke’s-Roosevelt Hospital Center1 $2,525,113 $17,260 10 senior vice president, Jewish Health System $2,898,148/$0 10 director, Continuum $2,525,113/$0 ambulatory services Reproductive Center

Lyle Leipziger, M.D, 7 $2,375,620 $42,600 Keith Thompson,14 $2,868,82215 $533,031 Long Island Jewish Medical Center North Shore-Long Island 11 chief, plastic surgery $2,375,620/$0 11 senior vice president and Jewish Health System $2,868,822/$0 general counsel Alejandro Berenstein, M.D., Beth Israel Medical Center1 $2,298,664 $47,060 $2,298,664/$0 Michael Dowling, North Shore-Long Island $2,823,35016 $1,128,235 12 director, Hyman-Newman president and chief executive Jewish Health System $2,823,350/$0 Institute for Neurology and 12 Neurosurgery

Milton Waner, M.D.,8 1 $2,275,902 $45,629 Barry Ostrowsky, Barnabas Health $2,558,07617 $280,260 Beth Israel Medical Center $2,275,902/$0 president and chief executive $0/$2,558,076 13 former director, Vascular 13 Birthmark Institute

Robert Kelly, M.D.,4 New York-Presbyterian Hospital $2,399,94218 $219,906 Andrew Casden, M.D., Beth Israel Medical Center1 $2,269,529 $54,028 14 president $2,399,942/$0 14 former associate director, $2,269,529/$0 Spine Institute

Craig Thompson, M.D., Memorial Sloan-Kettering $2,359,106 $281,566 Peter Cordeiro, M.D. Memorial Sloan-Kettering Cancer Center $2,197,946 $117,069 15 president and chief executive Cancer Center $2,359,106/$0 15 chief, plastic and reconstructive $2,197,946/$0 surgical service Continued Continued

April 7, 2014 | Crain’s New York Business | 19 THE LIST Top-Paid Hospital Executives and Employees

TOP-PAID HOSPITAL EXECUTIVES TOP-PAID HOSPITAL EMPLOYEES Cash compensation Other Cash compensation Other Rank Officer/director/trustee Hospital/system from org./from related orgs. compensation Rank Employee Hospital/system from org./from related orgs. compensation Robert Garrett, Hackensack University $2,287,88419 $440,633 Alan Hartman, M.D., North Shore University Hospital7 $2,013,469 $42,600 16 president and chief executive Medical Center $2,287,884/$0 16 senior vice president and executive $2,013,469/$0 director, cardiothoracic services Phyllis Lantos, New York-Presbyterian Hospital $2,183,39120 $49,169 Peter Scardino, M.D., Memorial Sloan-Kettering Cancer Center $1,979,255 $72,631 17 executive vice president, chief $2,183,391/$0 17 chair, surgery $1,979,255/$0 financial officer and treasurer Andrew Kovach, Atlantic Health System $2,106,490 $258,854 Joseph Disa, M.D., Memorial Sloan-Kettering Cancer Center $1,942,184 $104,622 $1,942,184/$0 18 vice president, human resources, $2,106,490/$0 18 attending, plastic and and chief administrative officer reconstructive surgery Stanley Brezenoff, 10 $2,102,339 $43,644 Richard Kraut, D.D.S., Montefiore Medical Center $1,893,564 $48,313 Beth Israel Medical Center $1,893,564/$0 19 chief executive $2,102,339/$0 19 chair, dentistry

Joel Perlman, $1,876,83721 $50,987 Barry Kaplan, M.D., Long Island Jewish Medical Center7 $1,892,241 $42,600 Montefiore Medical Center $1,892,241/$0 20 executive vice president and $1,876,837/$0 20 vice chair, cardiovascular disease, chief financial officer internal medicine, interventional cardiology Keith Safian $1,836,88022 $44,750 Phelps Memorial Hospital Center Farr Nezhat, M.D., 1 $1,839,538 $21,491 $1,836,880/$0 St. Luke’s-Roosevelt Hospital Center 21 president 21 director, minimally invasive $1,839,538/$0 surgery and gynecologic robotic Miguel Fuentes Jr., Bronx-Lebanon Hospital Center $1,782,62323 $29,982 Patrick Borgen, M.D., $1,832,976 $40,365 $1,782,623/$0 Maimonides Medical Center 22 president and chief executive 22 chair, surgery $1,832,976/$0

Jon Schandler, White Plains Hospital Medical Center $1,753,038 $44,699 Laurence Spier, M.D., North Shore University Hospital7 $1,810,071 $42,600 23 chief executive $1,753,038/$0 23 director, minimally invasive $1,810,071/$0 and robotic thoracic surgery Audrey Meyers, Valley Hospital $1,739,83924 $445,273 Shalom Kalnicki, M.D., Montefiore Medical Center $1,806,007 $48,144 24 president and chief executive $1,739,839/$0 24 chair, radiation oncology $1,806,007/$0

Thomas Biga, Barnabas Health $1,739,66525 $34,664 William Samson, M.D., St. Luke’s-Roosevelt Hospital Center1 $1,787,639 $12,418 25 executive vice president and $0/$1,739,665 25 associate chief, plastic surgery $1,787,639/$0 chief operating officer

Cash compensation includes base compensation, bonus and incentive compensation, and other reportable compensation from the organization and related organizations. Other compensation includes nonreportable compensation, deferred compensation, retirement plan benefits, health care benefits and other fringe benefits from the organization and related organizations. SERP-supplemental executive retirement plan. Individuals may have additional titles. Hospital employee compensation may not include medical school pay. Notes on top-paid executives: 1- Retired in 2011. 2-Includes $4,553,621 from a split dollar life insurance policy. Includes $31,405 from medical/dental insurance premiums paid by the organization. Includes $13,959,337 complete and final SERP distribution. Includes $1,160,000 from vested benefits in a long-term incentive plan. Includes a $870,000 performance bonus. 3-Includes $3,744,997 provided under a retention agreement, $4,011,906 payment from a mid-career hire nonqualified plan, $222,860 for the present value of future benefits and taxable benefits of $54,961. 4-Employee only of New York-Presby- terian Hospital, and compensation comes only from New York-Presbyterian Hospital. 5-Includes a $195,698 SERP participation. 6-Includes a $2,201,953 SERP distribution. 7- Other compensation includes a $210,000 SERP participation and a portion of Mr. Dinan's other reportable compensation of $2,721,399 includes taxable benefits. 8-Includes a $568,875 SERP participation. 9-Includes a $445,592 and $171,053 SERP participation. 10-In September 2013, Mount Sinai Medical Center and Continuum Partners mergered to become the Mount Sinai Health Sys- tem. 11-Stepped down in 2011. 12-Includes a $208,938 SERP participation. 13-Includes a $485,222 SERP participation. 14- Stepped down in 2013. 15-Includes a $484,450 SERP participation. 16-Includes a $1,079,610 SERP participation. 17- Includes a $75,687 SERP participation. Includes $900,000 from vested benefits in a long-term incentive plan. Includes $250,000 from unvested benefits in a long-term incentive plan. 18-Includes a $364,603 and $155,364 SERP participation. 19-Includes a $397,526 payment from a SERP.Other compensation includes a $106,939 payment from a nonqualified deferred compensation plan and a $192,118 payment from a SERP.20-Includes a $465,191 SERP participation. 21-Includes a $562,330 SERP distribution. 22-A portion of Mr. Safian's other reportable compensation of $728,751 includes taxable retirement benefits. 23- Includes a $216,385 SERP distribution. 24-Includes a $372,300 SERP payment and a $393,129 deferred compensation contribution. 25-Includes a $323,862 SERP distribution. Includes $335,000 from vested benefits in a long-term incentive plan. Notes on top-paid employees: 1-In September 2013, Mount Sinai Medical Center and Continuum Health Partners merged to become the Mount Sinai Health System. 2-Retired in 2012. 3-Includes a $1,928,460 deferred compensation payment, vested benefits of $113,355 in a deferred compensation plan and a $87,606 SERP participation. 4-This amount is the result of an assessment and reconciliation performed due to retirement. 5-Corporate member of Catholic Health Services of Long Island. 6-Includes a $1,470,643 distribution in other reportable compensation. 7-Corporate member of North Shore-LIJ Health System. 8-Stepped down in 2013. Sources: Forms 990 for 2012 (the latest year available) from New York area hospitals. Research by Suzanne Panara, Malik Singleton and Nicholas Wells. Additional research by Barbara Benson. FOR ALL CRAIN’S LISTS, VISIT WWW.CRAINSNEWYORK.COM/LISTS

20 | Crain’s New York Business | April 7, 2014 FOR THE RECORD

the specifications book can be purchased landlord, Vornado Realty Trust, was STOCK TRANSACTIONS for $50 each by check or money order, represented by Josh Glick and Jared ABOUT THIS SECTION payable to the New York City Silverman. The asking rent was in the Following are recent insider transactions at FOR THE RECORD is a weekly listing of information from the public record that Department of Transportation. To make mid-$70s per square foot. New York’s largest publicly held companies can help businesspeople in the New York area find opportunities, potential inquiries, submit questions in writing by filed with the Securities and Exchange April 23 to Richard Solomon, Project ● Kanematsu USA signed a 10-year Commission by executives and major new clients and updates on competitors. Manager, NYCDOT,Division of lease for 10,900 square feet at 500 Fifth shareholders. Listings are in order of To ask questions or get more information on this section, contact Crain’s Bridges, 59 Maiden Lane, 36th floor, Ave. in midtown. The large trading transaction value.The information was research department at [email protected]. New York, NY 10038. company, the U.S. subsidiary of the obtained from Thomson Reuters. Kanematsu Corp. of Japan, will occupy ● Fire Department the entire 29th floor. The tenant was ● Regeneron Pharmaceuticals Inc. Seeks competitive sealed bids by 4 p.m. represented by Michael Goldman, (REGN) NEW IN TOWN Filed for Chapter 11 bankruptcy April 30 for on-call general contracting Joseph Messina and Kunihiko Otomo of Sanofi purchased 67,703 shares of protection on March 24. The filing cites services at FDNY facilities in all five Studley.The landlord, 500 Fifth Ave. common stock at prices ranging from Companies that would like to have details estimated liabilities of $1,000,001 to boroughs. A nonmandatory prebid Inc., was represented by Harry Blair and $325.94 to $328.93 between March 19 of openings published should submit $10 million and estimated assets of conference is at 10:30 a.m. on April 10 Sean Kearns of Cushman & Wakefield. and March 20, in a transaction worth descriptions following this format to $1,000,001 to $10 million. at 9 MetroTech Center, fourth floor, The asking rent was in the upper $60s $22,229,150. It now directly holds [email protected], with Room 4S-15/16, Brooklyn. To make per square foot. 18,178,300 shares. “New in Town” in the subject line. ● 1443 61 inquiries, contact Tetyana Sydoruk at 1742 46th St., Brooklyn (718) 999-2333 or contracts@ ● Fluent Technologies signed a two-year ● CBS Corp. (CBS) ● BHLDN Filed for Chapter 11 bankruptcy fdny.nyc.gov. sublease for 7,500 square feet at 570 Les Moonves, chief executive, 1230 Third Ave., Manhattan protection on March 19. The filing cites Lexington Ave. in midtown.The software exercised options on 375,000 shares of The bridal shop-within-a-shop opened estimated liabilities of $1,000,001 to GOODS AND SERVICES firm will occupy space leased by common stock at $28.70 between inside the Anthropologie store on the $10 million and estimated assets of ● Economic Development Corp. investment firm Rodman & Co.The March 17 and March 18, in a Upper East Side. Dedicated fitting $500,001 to $1 million. The creditors Requests qualifications by 4 p.m. on tenant was represented by Lance Weitz transaction worth $10,762,500. In the rooms can accommodate up to three with the largest unsecured claims are April 11 for construction of the of JFW Realty. Rodman & Co. and the same period, he sold 375,000 shares of appointments at once. B&M Steinmetz, owed $450,000; Rockaway boardwalks. Bid documents landlord, the Feil Organization, were common stock at prices ranging from David Z. Kohn, owed $100,000; and are available for in-person pickup both represented by Corey Abdo of $65.95 to $66.37, in a transaction ● McMahon’s Public House IRO Foundation Inc., owed $50,000. between 9:30 a.m. and 4:30 p.m., EVO Real Estate Group.The asking worth $24,809,250. He now directly 39 Fifth Ave., Brooklyn Monday through Friday, from the rent was $38 per square foot. holds 1,857,210 shares. The Irish pub opened a restored and ● Lionel Charles Medina department at 110 William St., fourth remodeled space in Park Slope. The bar 3512 Oxford Ave., Bronx floor. To make inquiries, contact RETAIL ● Fortress Investment Group that was formerly O’Connor’s now Filed for Chapter 11 bankruptcy Maryann Catalano at (212) 312-3969 or ● Hartstrings signed a 10-year lease for (FIG) features a second floor with its own bar protection on March 24. The filing cites [email protected]. 5,500 square feet at 1114 First Ave. in Wesley R. Edens, co-founder, principal, and a patio for private events or estimated liabilities of $1,000,001 to Lenox Hill.The national children’s co-chairman and chief investment overflow. $10 million and estimated assets of $0 to Requests expressions of interest by 4 apparel company’s first Manhattan officer, sold 824,922 shares of common $50,000. p.m. on April 23 for the purchase and outpost follows a four-month pop-up stock at $8.04 per share on March 18 in ● Spiegel redevelopment of the Jersey Street test at the location.The tenant was a transaction worth $6,632,373. He now 26 First Ave., Manhattan ● Lisa T. Alexander Garage site in Tompkinsville, Staten represented by Benjamin Srour of directly holds 69,268,496 shares. The Moroccan and Israeli restaurant 32 Town Line Drive, Carmel, N.Y. Island. To make inquiries, contact Norman Bobrow & Co.The landlord, opened in the East Village. The kosher- Filed for Chapter 7 bankruptcy Maryann Catalano by 5 p.m. on Himmel + Meringoff, was represented Michael E. Novogratz, principal and style menu has no pork and does not mix protection on March 25. The filing cites April 11 at (212) 312-3969 or by Lee Block and Darrell Rubens of director, sold 276,065 shares of common meat with dairy products. estimated liabilities of $500,001 to $1 [email protected]. Winick Realty Group and in-house stock at $8.04 per share on March 18, in million and estimated assets of $100,001 agents Mark Stein and Jason Vacker.The a transaction worth $2,219,563. He now to $500,000. The creditors with the ● Housing Authority asking rent was $150 per square foot. directly holds 63,041,000 shares. COMPANY MOVES largest unsecured claims are Chase Seeks competitive sealed bids by 10 a.m. Bank, owed $25,556.11; Signature on April 17 for V/C floor-tile ● Dewey’s signed a 15-year lease for ● Foot Locker Inc. (FL) Companies that would like to have details Bank, owed $20,024; and Capital One installation in apartments at multiple 2,900 square feet inside a new Courtyard Jeffrey L. Berk, senior vice president of of recent moves published should submit Bank, owed $8,466. housing developments. Deadlines vary by Marriott hotel at 135 W. 30th St. in real estate, sold 106,479 shares of descriptions following this format to by site. Bid documents are available for Chelsea.The eatery’s Flatiron location common stock at prices ranging from [email protected], with ● Pine Tree House Inc. download at www.nyc.gov/html/nycha/ closed earlier this year when its lease $45.75 to $45.83 per share between “Company Moves” in the subject line. 1250 Broadway, Manhattan html/business/business.shtml, or paper wasn’t renewed.The tenant was March 12 and March 17, in a Filed for Chapter 11 bankruptcy documents can be obtained for a $25 represented by Shane Davis and transaction worth $4,872,386. He now ● Hibino protection on March 20. The filing cites nonrefundable fee, payable to NYCHA Matthew Strombelline of SKH Realty. directly holds 32,369 shares. On March 10-70 Jackson Ave., Queens estimated liabilities of $1,000,001 to Finance Department. Documents can The landlords, Altitude Capital and 17, he exercised options on 97,000 The Japanese restaurant opened its $10 million and estimated assets of be picked up at 90 Church St., sixth Flintlock Construction, were represented shares at prices ranging from $9.93 to second location, in Long Island City. Its $1,000,001 to $10 million. The creditors floor, Manhattan. To make inquiries, by Karma McDermott of SKH.The $25.39, in a transaction worth homemade tofu is a staple on a menu with the largest undisputed unsecured contact Erneste Pierre-Louis at asking rent was $25,000 per month. $1,664,570. Ⅲ that changes daily. Its other eatery is in claims are Yhung Gyung Kang, owed (212) 306-3609 or erneste.pierre-louis@ Cobble Hill, Brooklyn, at 333 Henry St. $200,000, and Can Capital Inc., owed nycha.nyc.gov. $154,597.26. ● Just Salad Seeks competitive sealed bids by 10:15 DEALS ROUNDUP 1306 First Ave., Manhattan a.m. on April 17 for SMD maintenance The eight-year-old salad eatery opened GOVERNMENT CONTRACT painting of apartments at various its 12th city location on the Upper East OPPORTUNITIES developments for a one-year contract. ATRANSACTION SITRANSACTION SIZE Side. It offers fast meals for the health- No bid security is required. Electronic TARGET/SELLERS (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE conscious plus steamed and baked items. Following are selected contract bid documents are available at JPMorgan Chase & Co., $3,500.0 Mercuria Energy Group Ltd. SB M&A opportunities recently announced by New www.nyc.gov/html/nycha/html/business physical commodities ● Orale Mexican Kitchen York City agencies.To learn how to sell /business.shtml. Paper documents are business/JPMorgan 768 Amsterdam Ave., Manhattan goods and services to city government, visit subject to a $25 fee, payable to NYCHA Chase & Co. (Manhattan) The Mexican restaurant opened a www.nyc.gov/selltonyc. For a searchable Finance Dept. by check or USPS money location on the Upper West Side, database of current procurement notices, order. To make inquiries, contact Wilton Re Holdings $1,800.0 Canada Pension FB M&A replacing Café Frida. The menu features visit www.nyc.gov/cityrecord. Listings are Erneste Pierre-Louis at (212) 306-3609 Ltd./Friedman Fleischer Plan investment & Lowe, High Ridge board; management ancho-chipotle bone-in short rib and alphabetical by category and department. or [email protected]. Capital, Kelso & Co. of Wilton Re Holdings Ltd. Mexican mac and cheese. (Manhattan), Lehman CONSTRUCTION SERVICES Brothers private-equity ● Swallow Cafe ● Department of Design and Construction REAL ESTATE DEALS division (Manhattan); 493 Driggs Ave., Brooklyn Seeks competitive sealed bids by April Stone Point Capital, The coffee, tea, pastry and sandwich 17 at 11 a.m. for construction of storm Companies that would like to have details Vestar Capital shop opened a new location in sewers and appurtenances on of their recent transactions appear in these Partners (Manhattan), Ridgemont Williamsburg. It also has a café in Amsterdam Avenue between Arlene listings should email descriptions following Equity Partners Bushwick, Brooklyn, at 49 Bogart St. Street and Carnegie Avenue, Staten this format to MSingleton@crainsnewyork Hearthside Food $1,100.0 Goldman Sachs Group FB M&A Island. Bid documents are available at .com, with “Real estate transaction” in the Solutions/Wind Point merchant banking division www.nyc.gov/buildnyc for $35 per set, subject line, or enter them online at Partners, Grosvenor (Manhattan), Vestar Capital BANKRUPTCIES payable by check or money order to the crainsnewyork.com/submitadeal. Deals are Capital Management Partners (Manhattan) agency.To make inquiries, contact listed in order of square footage. customized fund The following listings are selected from the Emmanuel Charles at (718) 391-2200 investment group most recent available filings by companies or [email protected]. COMMERCIAL (Manhattan) seeking bankruptcy protection in the ● Facebook signed a lease of an TravelClick Inc. $930.0 Thoma Bravo FB M&A Southern and Eastern Districts of New ● Department of Transportation undisclosed length for 60,000 additional (Manhattan)/Genstar York. Information was obtained from U.S. Seeks competitive sealed bids by April square feet at 770 Broadway. The social- Capital Bankruptcy Court records available on 30 at 11 a.m. for the reconstruction of networking company’s space at the 15- Selected deals announced for the week ended March 15 involving companies in metro New Public Access to Court Electronic Records. Harlem River Drive bridge over East story building now totals 160,000 square York. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing Listings are in alphabetical order. 127th Street. Bid documents are feet, and it will occupy the seventh and shares of a company without the participation of a financial buyer. FB M&A: Financial buyer M&A represents a minority or majority acquisition of existing shares of a company with the available for download till April 23 at eighth floors. The tenant was participation of a financial buyer. source: capitaliq ● 1139 Clay Avenue http://a856-internet.nyc.gov/nycvendor represented by Paul Ippolito of 1035 Grand Concourse, Bronx online/home.asp. The drawings set and Newmark Grubb Knight Frank. The

April 7, 2014 | Crain’s New York Business | 21

TO PLACE A CLASSIFIED AD CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC NOTICE PUBLIC & LEGAL NOTICES Notice of Qualification of LYRIC Notice of Qualification of CM Notice of Qualification of AEF Notice of Qualification of TASHTEGO PUBLIC NOTICE THEATRE, LLC. Authority filed with Investment Partners LLC. Fictitious RESEARCH ASSOCIATES, LLC. CAPITAL PARTNERS, L.P. Authority NOTICE IS HEREBY GIVEN, PURSUANT Secy. of State of NY (SSNY) on Name: CMIP LLC. Authority filed Authority filed with Secy. of State of NY filed with Secy. of State of NY (SSNY) TO LAW, THAT THE NYC DEPARTMENT 04/26/13. Office location: NY County. with Secy. of State of NY (SSNY) on (SSNY) on 02/27/14. Office location: on 03/03/14. Office location: NY OF CONSUMER AFFAIRS WILL HOLD A LLC formed in Delaware (DE) on 2/12/14. Office location: New York NY County. LLC formed in Delaware County. LP formed in Delaware (DE) on PUBLIC HEARING ON Wednesday, April 09, 04/11/13. NYS fictitious name: LYRIC County. LLC formed in Delaware (DE) (DE) on 02/20/14. Princ. office of LLC: 02/18/14. SSNY designated as agent 2014 AT 2:00 P.M. AT 66 JOHN STREET, 11TH BROADWAY, LLC. SSNY designated on 7/25/13. SSNY designated as 888 Seventh Ave., 42nd Fl., NY, NY of LP upon whom process against it FLOOR, ON A PETITION FOR BB ONE LLC as agent of LLC upon whom process agent of LLC upon whom process 10019. SSNY designated as agent of may be served. SSNY shall mail TO CONTINUE TO MAINTAIN, AND against it may be served. SSNY shall against it may be served. SSNY shall LLC upon whom process against it may process to David Halliwill, 410 Park OPERATE AN UNENCLOSED SIDEWALK mail process to c/o Herrick, Feinstein mail process to: c/o National Registered be served. SSNY shall mail process Ave., Ste. 530, NY, NY 10022. Name CAFÉ AT 514 THIRD AVENUE IN THE LLP, Attn: J. Rogers, 2 Park Ave., NY, Agents, Inc., 111 Eighth Ave., NY, NY to c/o Corporation Service Co. (CSC), and addr. of each general partner are BOROUGH OF MANHATTAN FOR A TERM NY 10016. DE addr. of LLC: c/o 10011, also the registered agent. 80 State St., Albany, NY 12207-2543. available from SSNY. DE addr. of LP: OF TWO YEARS. National Registered Agents, Inc., 160 Address to be maintained in DE: c/o DE addr. of LLC: CSC, 2711 c/o Corporation Service Co., 2711 REQUEST FOR COPIES OF THE REVOCABLE Greentree Dr., Ste. 101, Dover, DE National Registered Agents, Inc., 160 Centerville Rd., Ste. 400, Wilmington, Centerville Rd., Wilmington, DE 19808. CONSENT AGREEMENT MAY BE 19904. Arts. of Org. filed with Jeffrey Greentree Dr., Ste. 101, Dover, DE DE 19808. Arts. of Org. filed with Secy. Arts. of Org. filed with DE Secy. of ADDRESSED TO: DEPARTMENT OF W. Bullock, DE Secy. of State, 19904. Arts of Org. filed with the DE of State of DE, John G. Townsend Bldg., State, 401 Federal St., Dover, DE CONSUMER AFFAIRS, ATTN: FOIL OFFICER, Townsend Bldg., 401 Federal St., Secy. of State, Loockerman & 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity. 42 BROADWAY, NEW YORK, NY 10004. Ste. 3, Dover, DE 19901. As amend- Federal St., Dover, DE 19901. 19901. Purpose: Any lawful activity. ed by Cert. of Amendment filed with Purpose: any lawful activities. NOTICE OF FORMATION OF 3Dream, SSNY on 06/28/13, the addr. of the NOTICE OF FORMATION OF HUDSON LLC. Arts of Org filed with Secy of TELECOMMUNICATIONS principal place of business of the Notice of Formation of NFF New SURGICARE, L.L.C. Arts of Org filed State of NY (SSNY) on 1/17/2014. LLC is: 214 W. 43rd St., NY, NY Markets Fund XXXIV, LLC. Arts. of with Secy of State of NY (SSNY) on Office location: NY County. SSNY 10036. Purpose: Any lawful activity. Org. filed with NY Dept. of State on 12/26/13. Office location: NY County. designated agent upon whom 2/24/14. Office location: NY County. SSNY designated agent upon whom process may be served and shall Formation of Hannah Blumenthal Sec. of State designated agent of process may be served and shall mail copy of process against LLC to 33 East 33rd Street Design, LLC filed with the Secy. of LLC upon whom process against it mail copy of process against LLC to principal business address: 150 West New York, NY 10016 State of NY (SSNY) on 12/17/13. may be served and shall mail principal business address: 281 28th Street, Ste. 402, NY, NY 10001. 212-532-7400 Office loc.: New York County. SSNY process to: Nonprofit Finance Fund, Broadway, 2nd Flr, NY, NY 10007. Purpose: any lawful act. 70 W. 36th St., 11th Fl., NY, NY [email protected] designated as agent of LLC upon Purp.: any lawful act. whom process against it may be 10018, principal business address. Notice of Formation of Calvary EMERGENCY served. The principal business loc. Purpose: any lawful activity. Notice of Formation of Sunset Park Manager LLC. Arts. of Org. filed with Debt LLC, Art. of Org. filed Sec'y of Secy. of State of NY (SSNY) on COMMUNICATIONS and address SSNY shall mail NOTICE OF QUALIFICATION of State (SSNY) 12/11/13. Office location: 3/28/14. Office location: NY County. process to is 175 Varick St., 8th Fl., Take-2-Productions, L.L.C. Authority SYSTEMS NY County. SSNY designated as agent SSNY designated as agent of LLC New York, NY 10014. Mgmt. shall filed with Secy of State of NY (SSNY) SPECIALISTS of LLC upon whom process against it upon whom process against it may be be by one or more members. on 1/31/14. Office location: NY County. • FREE PICKUP & DELIVERY may be served. SSNY shall mail copy served. SSNY shall mail process to: Purpose: Any lawful activity. LLC formed in MO on 8/5/1998. SSNY • 48 HOUR TURNAROUND of process to Bluestone Group, 225 The LLC, 826 Broadway, 11th Fl., NY, designated agent upon whom process ON REPAIRS 529 PARK, LLC, a domestic LLC, Broadway, 32nd Fl., NY, NY 10007. NY 10003. Purpose: any lawful activity. filed with the SSNY on 12/24/13. may be served and shall mail copy of • FREE ENGRAVING Purpose: any lawful activities. LIMITED LIABILITY COMPANY. Office location: New York County. process against LLC to principal • SHORT & LONG TERM Notice of Formation of Limited SSNY is designated as agent upon business address: 1906 Wyandotte, NOTICE OF QUALIFICATION of 33 RENTALS Liability Company (LLC). Name: FIA whom process against the LLC may Kansas City, MO 64108. Cert. of LLC Peck Slip Holding LLC. Authority CORONA HOLDINGS, LLC. Articles be served. SSNY shall mail process filed with Secy of State of MO: 600 filed with Secy of State of NY (SSNY) of Organization filed by the to The LLC, 20 Renwick St., NY, NY West Main St, Jefferson City, MO on 2/18/14. Office location: NY County. Department of State of New York on: 10013. General Purpose. 65101. Purpose: any lawful act. LLC formed in DE on 11/15/13. 03/06/2014. Office location: County Notice of Qual. of Agosto I Capital, LLC, SSNY designated agent upon whom Notice of Formation of 122 Owners process may be served and shall of New York. Purpose: any and all LLC. Arts. of Org. filed with Secy. of Auth. filed Sec'y of State (SSNY) lawful activities. Secretary of State of 7/11/13. Office loc.: NY County. LLC mail copy of process against LLC to: State of NY (SSNY) on 2/26/14. Office c/o CSC, 80 State St, Albany, NY New York (SSNY) designated as agent location: NY County. SSNY designated org. in DE 7/10/13. SSNY desig. as of LLC upon whom process against agent of LLC upon whom process 12207-2543. Principal business PUBLIC & as agent of LLC upon whom process address: c/o CSC, 2711 Centerville it may be served. SSNY shall mail a against it may be served. SSNY shall against it may be served. SSNY shall copy of process to: 115 Broadway, mail copy of proc. to Att: Ed Bosek, Rd, Ste 400, Wilmington, DE 19808. LEGAL NOTICES mail process to: c/o Office of Certif. of LLC filed with Secy of State Suite 302, New York, NY 10006. Lawrence E. Fabian, Esq., 437 Fifth 1330 Ave of the Americas, 6th Fl., NY, NY 10019. DE off. addr.: CSC, 2711 of DE: 401 Federal St, Ste 4, Dover, NOTICE OF FORMATION OF 888 CAFE Notice of Formation of Sparrow By Ave., Ste. 801, New York, NY 10016. DE 19901. Purpose: any lawful act. LLC. Arts of Org filed with Secy of Purpose: any lawful activity. Centerville Rd., Wilmington, DE Seymour & Paul, LLC, Art. of Org. filed 19808. Cert. of Form. on file: SSDE, State of NY (SSNY) on 10/22/13. Sec'y of State (SSNY) 11/26/13. Office NOTICE OF QUALIFICATION of 33 Office location: NY County. SSNY NOTICE OF FORMATION OF LIMITED Townsend Bldg., Dover, DE 19901. Peck Slip Acquisition LLC. Authority location: NY County. SSNY designated Purp.: any lawful activities. designated agent upon whom process as agent of LLC upon whom process LIABILITY COMPANY. NAME: GL filed with Secy of State of NY (SSNY) HOSPITALITY GROUP, LLC. Articles may be served and shall mail copy of against it may be served. SSNY shall NOTICE OF FORMATION OF Triangle on 2/18/14. Office location: NY County. process against LLC to: c/o TORKIAN mail copy of process to Dorothy Weber, of Organization were filed with the LLC formed in DE on 11/6/13. SSNY Secretary of State of New York (SSNY) J Fund I LLC. Arts of Org filed with GROUP 1650 Broadway, Ste 910, NY, 494 Eighth Ave., 6th Fl., NY, NY 10001. Secy of State of NY (SSNY) on designated agent upon whom process NY 10019. Principal business address: Purpose: any lawful activities. on 11/06/13. Office location: New York may be served and shall mail copy of County. SSNY has been designated 2/20/14. Office location: NY County. 1265 Broadway, NY, NY 10001. SSNY designated agent upon whom process against LLC to: c/o CSC, 80 Purpose: any lawful act. NOTICE OF FORMATION of DIFEI as agent of the LLC upon whom State St, Albany, NY 12207-2543. process against it may be served. process may be served and shall mail GROUP LLC. Arts of Org. filed with NY copy of process against LLC to: c/o Principal business address: c/o CSC, Notice of Formation of Alamar Secy of State (SSNY) on 12/10/2013. SSNY shall mail a copy of process to 2711 Centerville Rd, Ste 400, Entertainment LLC. Arts. of Org. filed the LLC, 338 3rd Avenue, New York, JD Stettin, 152 W. 57th St, Flr 53, NY, Office location: New York County. SSNY NY 10019. Principal business Wilmington, DE 19808. Certif. of LLC with Secy. of State of NY (SSNY) on is designated as agent of LLC upon New York 10010. Purpose: For any filed with Secy of State of DE: 401 2/18/14. Office location: NY County. lawful purpose. address: 259 W 70th St, #2R, NY, NY whom process against it may be 10023. Purpose: any lawful act. Federal St, Ste 4, Dover, DE 19901. SSNY designated as agent of LLC served. SSNY shall mail process to: Purpose: any lawful act. upon whom process against it may 404 East 76th Street, Suite 5L, New Notice of Formation of Quik Park Notice of formation of 163 Bleecker be served. SSNY shall mail process York, NY 10021: any lawful activity. Morton LLC. Arts. of Org. filed with Street, LLC. Arts of Org filed with Secy NOTICE OF FORMATION OF to: c/o Levinsohn Associates, P.C., Secy. of State of NY (SSNY) on of State of NY (SSNY) on 2/7/14. Pinkhasov & Associates, PLLC. Arts of 1325 Avenue of the Americas, Floor Notice of Formation of AMPLIFON 2/24/14. Office location: NY County. Office location: NY County. SSNY has Org filed with Secretary of State of NY 27, New York, NY 10019. Purpose: IPA, LLC. Arts. of Org. filed with SSNY designated as agent of LLC been designated as agent of the LLC (SSNY) on 1/9/14. Office location: NY any lawful activity. Secy. of State of NY (SSNY) on upon whom process against it may upon whom process against it may County. SSNY designated agent upon Notice of Qual. of Alpha4X Onshore 02/06/14. Office location: NEW YORK be served. SSNY shall mail process be served. SSNY shall mail process whom process may be served and Feeder Fund LP, Auth. filed Sec'y of County. SSNY designated as agent to: The LLC, 247 W. 37th St., NY, NY served to: 1500 Broadway, 22nd, NY, shall mail copy of process against State (SSNY) 5/2/13. Office loc.: NY of LLC upon whom process against 10018. Purpose: any lawful purpose. NY 10036. Purpose: any lawful act. PLLC to principal business address: it may be served. SSNY shall mail 260 Madison Ave, Ste 204, NY, NY Cty. LP org. in DE 4/30/13. SSNY NOTICE OF FORMATION OF BETTER process to: c/o National Registered NOTICE OF FORMATION OF AJ City 10016. Purpose: any lawful act. desig. as agent of LP upon whom Agents, Inc. 111 Eighth Ave., NY, NY BROKERS, LLC. Articles of Organization Property LLC. Arts of Org filed with process against it may be served. 10011, also the registered agent. filed with Secretary of State of NY Secy of State of NY (SSNY) on BX PROPERTIES MANAGERS LLC, SSNY shall mail copy of proc. to Att: Purpose: any lawful activities. (SSNY) on 1/21/14. Office location: NY 1/16/14. Office location: NY County. a domestic LLC, filed with the SSNY Manuel Mejia-Aoun, 1040 Ave of the County. SSNY designated agent upon SSNY designated agent upon whom on 2/19/14. Office location: New York Americas, NY, NY 10018. DE off. addr.: Tru Dynamic Group LLC. Arts of Org whom process may be served and process may be served and shall County. SSNY is designated as CSC, 2711 Centerville Rd., Wilmington, filed with Secy of State of NY (SSNY) shall mail copy of process against mail copy of process against LLC to: agent upon whom process against DE 19808. Cert. of LP on file: SSDE, on 2/4/2014. Office location: New LLC to principal business address: 247 W. 38th St, Ste. 404, NY, NY the LLC may be served. SSNY shall Townsend Bldg., Dover, DE 19901. York County. SSNY designated agent 15 W. 72nd St., #17M, NY, NY 10018. Principal business address: mail process to The LLC, c/o Yuco Name/addr. of each gen. ptr. avail. at upon whom process may be served 10023. Purpose: any lawful activity. 419 W. 145th St, NY, NY 10031. Management, 200 Park Ave., 11th SSNY. Purp.: any lawful activities. and shall mail copy of process Purpose: any lawful act. Fl., NY, NY 10166. General Purpose. against LLC to: 134 W. 29th Street Notice of Qualification of 59 SOUTH Notice of Qualification of Schireson 11th Floor, New York NY 10001. 4TH INVESTOR LLC. Authority filed Notice of Formation of WEIRDO Notice of Qualification of Ampere Associates, LLC. Fictitious Name: Principal business address: 134 W. with Secy. of State of NY (SSNY) on WORKSHOP, LLC. Arts. of Org. filed Solar Owner III, LLC. Authority filed Schireson Associates, LLC, of 29th Street 11th Floor, New York NY 02/18/14. Office location: NY County. with Secy. of State of NY (SSNY) on with Secy. of State of NY (SSNY) on Delaware. Authority filed with Secy. of 10001. Purpose: any lawful act. LLC formed in Delaware (DE) on 02/05/14. Office location: NY County. 3/10/14. Office location: New York State of NY (SSNY) on 2/25/14. Office 01/22/14. SSNY designated as agent Princ. office of LLC: c/o SKP, LLP, 1745 County. LLC formed in Delaware (DE) location: New York County. LLC Notice of Formation of CB-GAA LLC. of LLC upon whom process against it Broadway, 18th Fl., NY, NY 10019. SSNY on 3/4/14. SSNY designated as agent formed in Delaware (DE) on 1/29/14. Arts. of Org. filed with Secy. of State may be served. SSNY shall mail designated as agent of LLC upon of LLC upon whom process against it SSNY designated as agent of LLC of NY (SSNY) on 03/21/14. Office process to The LLC, 134 Spring St., whom process against it may be may be served. SSNY shall mail upon whom process against it may be location: NY County. Princ. office of Ste. 305, NY, NY 10012. DE addr. of served. SSNY shall mail process to process to: c/o Corporation Service served. SSNY shall mail process to: LLC: c/o Hotel Edison, 228 W. 47th LLC: c/o Corporation Service Co., WEIRDO WORKSHOP, INC. at the Company, 80 State St., Albany, NY 3 Columbus Circle, 22nd Fl., NY, NY St., NY, NY 10036. SSNY designated 2711 Centerville Rd., Ste. 400, princ. office of the LLC. As amended 12207-2543. Address to be maintained 10019. Address to be maintained in as agent of LLC upon whom process Wilmington, DE 19808. Arts. of Org. by Cert. of Correction filed with SSNY in DE: 2711 Centerville Rd., Ste. 400, DE: 160 Greentree Dr., Ste. 101, against it may be served. SSNY shall filed with Secy. of the State of DE, Div. on 02/18/14, addr. of process changed Wilmington, DE 19808. Arts of Org. Dover, DE 19904. Arts of Org. filed mail process to the LLC at the addr. of Corps., John G. Townsend Bldg., to WEIRDO WORKSHOP, LLC, c/o SKP, filed with the DE Secy. of State, 401 with the DE Secy. of State, 401 of its princ. office. Purpose: Any 401 Federal St., Ste. 4, Dover, DE LLP, 1745 Broadway, 18th Fl., NY, NY Federal St., Dover, DE 19901. Federal St., Ste. 4, Dover, DE 19901. lawful activity. 19901. Purpose: Any lawful activity. 10019. Purpose: Any lawful activity. Purpose: any lawful activities. Purpose: any lawful activities.

24 | Crain’s New York Business | April 7, 2014 TO PLACE A CLASSIFIED AD CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of CREDIT Notice of Qualification of WINMILL Notice of Qualification of TP-HF Notice of Qualification of TASHTEGO Notice of Qualification of BORO SUISSE NEXT INVESTORS, LLC. REALTY MANAGEMENT LLC. Acquisition, LLC. Authority filed with MANAGEMENT COMPANY LLC. ASSOCIATES LLC. App. for Auth. Authority filed with Secy. of State of NY Authority filed with Secy. of State of NY NY Dept. of State on 10/24/13. Office Authority filed with Secy. of State of NY filed with Secy. of State of NY (SSNY) (SSNY) on 02/24/14. Office location: (SSNY) on 02/14/14. Office location: location: NY County. LLC formed in (SSNY) on 03/03/14. Office location: 11/12/13. Office location: NY County. NY County. LLC formed in Delaware NY County. LLC formed in Delaware DE on 3/19/13. NY Sec. of State NY County. LLC formed in Delaware LLC formed in Delaware (DE) on (DE) on 09/20/13. Princ. office of LLC: (DE) on 02/07/14. SSNY designated designated agent of LLC upon whom (DE) on 02/18/14. SSNY designated 10/18/13. SSNY designated as agent 11 Madison Ave., NY, NY 10010. SSNY as agent of LLC upon whom process process against it may be served and as agent of LLC upon whom process of LLC upon whom process against designated as agent of LLC upon whom against it may be served. SSNY shall shall mail process to the principal against it may be served. SSNY shall it may be served. SSNY shall mail process against it may be served. SSNY mail process to c/o Corporation business addr.: 280 Park Ave., 41st mail process to David Halliwill, 410 process to: c/o Botsaris Morris Realty shall mail process to the LLC at the Service Co., 80 State St., Albany, NY Fl., NY, NY 10017. DE addr. of LLC: Park Ave., Ste. 530, NY, NY 10022. Group LLC, Attn: Guy Morris, 358 princ. office of the LLC. DE addr. of 12207-2543. DE addr. of LLC: 2711 Corporation Service Co., 2711 DE addr. of LLC: c/o Corporation Fifth Ave., Ste. 902, NY, NY 10001. DE LLC: c/o Corporation Service Co., 2711 Centerville Rd., Ste. 400, Wilmington, Centerville Rd., Ste. 400, Wilmington, Service Co., 2711 Centerville Rd., address of LLC: c/o United Corporate Centerville Rd., Ste. 400, Wilmington, DE 19808. Arts. of Org. filed with DE DE 19808. Cert. of Form. filed with DE Wilmington, DE 19808. Arts. of Org. Services, Inc., 874 Walker Road, Ste. DE 19808. Arts. of Org. filed with DE Secy. of State, John G. Townsend Bldg., Sec. of State, Townsend Bldg., Dover, filed with DE Secy. of State, 401 C, Dover, DE 19904. Cert. of Form. Secy. of State, Div. of Corps., John 401 Federal St., Ste. 4, Dover, DE DE 19901. Purpose: any lawful activity. Federal St., Dover, DE 19901. filed with DE Secy. of State, G. Townsend Bldg., 401 Federal St. - 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. Townsend Bldg., Dover, DE 19901. Ste. 4, Dover, DE 19901. Purpose: Notice of Qual. of Rhone Music Purpose: any lawful activity. This entity will make investments. NOTICE OF FORMATION OF LIMITED Holdings, LLC, Auth. filed Sec'y of NOTICE OF FORMATION of Shubert LIABILITY COMPANY. NAME: NRZS State (SSNY) 10/15/13. Office loc.: NY and Booth Cumming, LLC. Arts. Of The professional limited liability com- Notice of Formation of ESHGM 2014, REALTY ASSOCIATES, LLC. Articles County. LLC org. in DE 2/16/12. SSNY Org. filed with NY Dept. of State on pany name is Sander Rabin H+Juris LLC. Arts. of Org. filed with Secy. of of Organization were filed with the desig. as agent of LLC upon whom 3/5/14. Office location: NY County. PLLC. The Articles of Organization State of NY (SSNY) on 03/12/14. Secretary of State of New York (SSNY) process against it may be served. Sec. of State designated agent of LLC were filed with the NY Secretary of Office location: NY County. SSNY on 02/19/14. Office location: New York SSNY shall mail copy of proc. to 250 upon whom process against it may State on March 13, 2014. The designated as agent of LLC upon whom County. SSNY has been designated West St., Apt. 6D, NY, NY 10013. DE be served and shall mail process to: PLLC’s office is in Westchester process against it may be served. as agent of the LLC upon whom off. addr.: 160 Greentree Dr., Ste. 101, c/o Gilbert Hoover, IV, The Shubert County. Business Filings Inc is desig- SSNY shall mail process to the LLC, process against it may be served. Dover, DE 19904. Cert. of Form. on Organization, Inc., 234 W. 44th St., nated as the PLLC’s agent for serv- One Morton Sq., Apt. 9CW, NY, NY SSNY shall mail a copy of process to file: SSDE, Townsend Bldg., Dover, DE NY, NY 10036, principal business ice of process at 187 Wolf Rd Suite 10014. Purpose: Any lawful activity. the LLC, c/o Naeem Khan, Ltd., 260 19901. Purp.: any lawful activities. address. Purpose: any lawful activity. 101 Albany NY 12205. The PLLC is W. 36th Street, Floor 10, New York, managed by a manager. The purpose NOTICE OF FORMATION OF NY Shine New York 10018. Purpose: For any NOTICE OF FORMATION of Notice of Formation of Bad Boy of the PLLC is to practice law. LLC. Arts of Org filed with Secy of lawful purpose. RIVERSIDE 16B LLC. Arts of Org. Productions OpCo LLC. Arts. of Org. State of NY (SSNY) on 10/21/13. filed with NY Secy of State (SSNY) filed with Secy. of State of NY (SSNY) Notice of Formation of Recast 24-26 Office location: NY County. SSNY NOTICE OF FORMATION OF on 12/04/2013. Office location: on 03/13/14. Office location: NY Park Place, LLC. Arts. of Org. filed designated agent upon whom process KRAVCHUK & DIPAOLO METALWORKS New York County. SSNY is desig- County. Princ. office of LLC: 1710 with NY Dept. of State on 11/26/2013. may be served and shall mail copy of LLC. Arts of Org filed with Secy of nated as agent of LLC upon whom Broadway, NY, NY 10019. SSNY Office location: NY County. Princ. bus. process against LLC to: Northwest State of NY (SSNY) on 1/8/14. Office process against it may be served. designated as agent of LLC upon whom addr.: 1 MetroTech Ctr., Brooklyn, NY Registered Agent, 90 State St, Ste 700, location: NY County. SSNY designated SSNY shall mail process to: 322 process against it may be served. 11201. Sec. of State designated Office 40, Albany, NY 12207. Principal agent upon whom process may be West 57th Street, Suite 53H2, New SSNY shall mail process to agent of LLC upon whom process business address: 29 King St, Apt 1d, served and shall mail copy of process York, NY 10019: any lawful activity. Corporation Service Co., 80 State against it may be served and shall NY, NY 10014. Purpose: any lawful act. against LLC to principal business St., Albany, NY 12207-2543. mail process to: 131 W. 24th St., Apt. address: 99 READE ST, 7W NY NY NOTICE OF FORMATION OF Jupiter Purpose: Any lawful activity. 2, NY, NY 10011, Attn: Betsy Jacobs, Notice of Formation of JDL Nautical, 10013. Purpose: any lawful act. Highway, LLC. Arts of Org filed with regd. agent upon whom process may LLC. Arts. of Org. filed with Secy. of Secy of State of NY (SSNY) on Notice of Formation of Bad Boy be served. Term: until 11/24/2063. State of NY (SSNY) on 2/12/14. Office NOTICE OF FORMATION OF Phillips 1/17/14. Office location: NY County. Touring OpCo LLC. Arts. of Org. filed Purpose: all lawful purposes. location: NY County. SSNY designated & Pfau, LLP. Arts of Org filed with SSNY designated agent upon whom with Secy. of State of NY (SSNY) on as agent of LLC upon whom process Secy of State of NY (SSNY) on process may be served and shall 03/13/14. Office location: NY County. Notice of qualification of NYC Fashion against it may be served. SSNY shall 11/7/13. Office location: NY County. mail copy of process against LLC to Princ. office of LLC: 1710 Broadway, Production Fund, LLC. Arts of Org mail process to: Gerald Lazar, 75 East SSNY designated agent upon whom principal business address: 150 West NY, NY 10019. SSNY designated as filed with Secy of State of NY (SSNY) End Avenue, Apt. 17E, NY, NY 10028- process may be served and shall 28th St, Ste 402, NY NY 10001. agent of LLC upon whom process on 12/6/2013. Office location: NY 7909. Purpose: any lawful activity. mail copy of process against LLP to Purpose: any lawful act. against it may be served. SSNY shall County. LLC Formed in DE on principal business address: 817 mail process to Corporation Service 11/13/13. SSNY designation agent CNI CREATE NEW IDEAS LLC, a Broadway, 10th Floor, NY, NY 10003. NOTICE OF FORMATION OF Pipsticks Co., 80 State St., Albany, NY 12207- upon whom process may be served domestic LLC, filed with the SSNY on Purpose: practice of law. LLC. Arts of Org filed with Secy of 2543. Purpose: Any lawful activity. and shall mail copy of process 2/25/14. Office location: New York State of NY (SSNY) on 2/7/14. Office against LLC to: Corp. Serv., Co. 80 County. SSNY is designated as agent NOTICE OF FORMATION OF BUTLER location: NY County. SSNY designated Notice of Formation of PARK State St, Albany, NY 12207-2543. upon whom process against the LLC RIDE, LLC. Arts of Org filed with agent upon whom process may be CHOCOLATE 275 LLC. Arts. of Org. Principal business address: 1700 may be served. SSNY shall mail Secy of State of NY (SSNY) on served and shall mail copy of process filed with Secy. of State of NY Broadway, 19th Flr NY, NY. Cert. of process to c/o Christina Kallas Esq., 2/6/14. Office location: NY County. against LLC to: Northwest Registered (SSNY) on 02/28/14. Office location: LLC filed with Secy of State of NY: 5009 Broadway, Ste. 604, NY, NY SSNY designated agent upon whom Agent, 90 State St, Ste 700, Office 40, NY County. Princ. office of LLC: c/o 401 Federal St., Ste 3, Dover, DE 10034. General Purpose. process may be served and shall Albany, NY 12207. Principal business Emmet, Marvin & Martin LLP, Attn: 19901. Purpose any lawful act. mail copy of process against LLC to address: 80 Varick St, 10B, NY, NY Robert Carver, 120 Broadway, 32nd Notice of Formation of AGW NYY LLC. principal business address: 212-14 10013. Purpose: any lawful act. Fl., NY, NY 10271. SSNY designated Notice of Qual. of Alpha4X Participation Arts. of Org. filed with Secy. of State 48th Ave, Bayside, NY 11364. as agent of LLC upon whom process LLC, Auth. filed Sec'y of State (SSNY) of NY (SSNY) on 02/19/14. Office Purpose: any lawful act. CARLYLE CAR PARK, LLC, a domestic against it may be served. SSNY 5/14/13. Office loc.: NY County. LLC location: NY County. SSNY desig- LLC, filed with the SSNY on 1/30/14. shall mail process to the LLC at the org. in DE 2/12/13. SSNY desig. as nated as agent of LLC upon whom NOTICE OF FORMATION of Office location: New York County. addr. of its princ. office. Purpose: agent of LLC upon whom process process against it may be served. RIVERSIDE 16A LLC. Arts of Org. SSNY is designated as agent upon Any lawful activity. against it may be served. SSNY shall SSNY shall mail process to the LLC, filed with NY Secy of State (SSNY) whom process against the LLC may be mail copy of proc. to Att: Manuel 500 Park Ave., Apt. 14F, NY, NY on 12/04/2013. Office location: New served. SSNY shall mail process to Notice of Qual. of Alpha4X Asset Mejia-Aoun, 1040 Ave of the Americas, 10022. Purpose: Any lawful activity. York County. SSNY is designated GGMC Parking, LLC, Attn: Andrew Management, LLC, Auth. filed Sec'y of NY, NY 10018. DE off. addr.: CSC, as agent of LLC upon whom Grossman, 1651 3rd Ave., Rm. 307, NY, State (SSNY) 5/14/13. Office loc.: NY 2711 Centerville Rd., Wilmington, DE Notice of Formation of 18W 125 Assoc. process against it may be served. NY 10128-3679. General Purpose. County. LLC org. in DE 11/9/12. SSNY 19808. Cert. of Form. on file: SSDE, LLC. Arts. of Org. filed with Secy. of SSNY shall mail process to: 322 desig. as agent of LLC upon whom Townsend Bldg., Dover, DE 19901. State of NY (SSNY) on 1/9/14. Office West 57th Street, Suite 51U1, New Name of LLC: Urban Kat LLC. Arts. process against it may be served. Purp.: any lawful activities. location: NY County. SSNY designated York, NY 10019: any lawful activity. of Org. filed with NY Dept. of State: SSNY shall mail copy of proc. to Att: as agent of LLC upon whom process 11/6/13. Office loc.: NY Co. Sec. of Manuel Mejia-Aoun, 1040 Ave of the NOTICE OF QUALIFICATION of The against it may be served. SSNY shall Notice of Formation of: Culloden State designated agent of LLC upon Americas, NY, NY 10018. DE off. addr.: Atlas Network LLC. Authority filed mail process to: c/o The LLC, 435 Group LLC. Articles of Organization whom process against it may be CSC, 2711 Centerville Rd., Wilmington, with Secy of State of NY (SSNY) on Fifth Ave., 4th Fl., NY, NY 10016. filed with the Secretary of State of served and shall mail process to: DE 19808. Cert. of Form. on file: 12/2/13. Office location: NY County. Purpose: any lawful activity. NY on 11/05/2013. Office location: Business Filings Inc., 187 Wolf Rd., SSDE, Townsend Bldg., Dover, DE LLC formed in DE on 7/15/05. SSNY New York County SSNY has been Ste. 101, Albany, NY 12205, regd. 19901. Purp.: any lawful activities. designated agent upon whom process NOTICE OF FORMATION OF The designated as agent upon whom agt. upon whom process may be may be served and shall mail copy of Langer Syringe, LLC. Arts of Org filed process against it may be served. served. Purpose: any lawful act. THE LAW OFFICE OF GRISEL process against LLC to: 95 Jefferson with Secy of State of NY (SSNY) on The Post Office address to which the BLANCO-OBREGON, LLC, a domestic St, Garden City, NY 11530. Principal 3/10/14. Office location: NY County. SSNY shall mail a copy of any NOTICE OF FORMATION OF PLLC, Arts. of Org. filed with the SSNY business address: 1441 Broadway, SSNY designated agent upon whom process against the LLC served SHRINATHJI KRUPA LLC. Arts of Org on 12/12/13. Office location: New York 3rd Flr #3071 NY, NY 10018. Cert. of process may be served and shall upon him/her is: 40 East 89th Street, filed with Secy of State of NY (SSNY) County. SSNY is designated as agent LLC filed with Secy of State of DE: 9 mail copy of process against LLC to: Suite 12F, New York, NY 10128. The on 10/31/13. Office location: NY upon whom process against the PLLC E Loockerman St, Ste #205, Dover, Finkelstein Platt LLP, 11 Broadway, principal business address of the County. SSNY designated agent upon may be served. SSNY shall mail DE 19901. Purpose: any lawful act. Ste 615, NY, NY 10004. Principal LLC is: 40 East 89th Street, Suite whom process may be served and process to: The LLC, 221 E. 89th St., business address: 933 Fifth Ave NY, 12F, New York, NY 10128. shall mail copy of process against #1A, NY, NY 10128. Purpose: Law. Notice of Qualification of COURTNEY NY 10021. Purpose: any lawful act. LLC to principal business address: ONE MANAGER LLC. Authority filed Notice of Qualification of EAM 40 Hemal Sheth, 238 Lafayette St., NY, Notice of Qualification of ROMARK with Secy. of State of NY (SSNY) on Meadow Lane LLC. Authority filed NY 10012. Purpose: any lawful act. LABORATORIES, L.C. Authority filed 03/19/14. Office location: NY County. with NY Dept. of State on 12/24/13. with Secy. of State of NY (SSNY) on LLC formed in Delaware (DE) on Office location: NY County. Princ. bus. Notice of Qualification of Arhaus, LLC. 2/25/14. Office location: New York 03/11/14. Princ. office of LLC: 1720 addr.: 600 Madison Ave., 17th Fl., Authority filed with NY Dept. of State County. LLC formed in Florida (FL) on Post Rd., Fairfield, CT 06824. SSNY To place your NY, NY 10022. LLC formed in DE on on 3/3/14. Office location: NY County. 10/24/94. SSNY designated as agent designated as agent of LLC upon whom 6/19/13. NY Sec. of State designated LLC formed in DE on 12/19/13. NY of LLC upon whom process against process against it may be served. agent of LLC upon whom process Sec. of State designated agent of LLC it may be served. SSNY shall mail SSNY shall mail process to c/o classified ad call against it may be served and shall upon whom process against it may be process to: c/o National Registered Ceruzzi Properties LLC at the princ. mail process to: c/o CT Corporation served and shall mail process to: Allan Agents, Inc., 111 Eighth Ave., NY, NY office of the LLC. DE addr. of LLC: c/o System, 111 8th Ave., NY, NY 10011, C. Churchmack, 7700 Northfield Rd., 10011, also the registered agent. Corporation Service Co., 2711 Joanne Barbieri regd. agent upon whom process may Walton Hills, OH 44146, principal Address to be maintained in FL: Centerville Rd., Ste. 400, Wilmington, be served. DE addr. of LLC: 1209 business address. DE address of LLC: 3000 Bayport Dr., Ste. 200, Tampa, DE 19808. Arts. of Org. filed with DE Orange St., Wilmington, DE 19801. 1209 Orange St., Wilmington, DE FL 33607. Arts of Org. filed with the Secy. of the State, Div. of Corps., John @ 212-210-0189 Cert. of Form. filed with DE Sec. of 19801. Cert. of Form. filed with DE Sec. FL Secy. of State, 2661 Executive G. Townsend Bldg., 401 Federal St., State, P.O. Box 898, Dover, DE of State, 401 Federal St., Dover, DE Center Circle, Tallahassee, FL 32301. Ste. 4, Dover, DE 19901. Purpose: 19903. Purpose: all lawful purposes. 19901. Purpose: all lawful purposes. Purpose: any lawful activities. Any lawful activity.

April 7, 2014 | Crain’s New York Business | 25 Designers eye storm resiliency

joint HUD-White House initiative cantly alter the landscape of the city. Post-superstorm called Rebuild by Design. With the A project dubbed the Big U, for infrastructure is focus finalists now agreed on,the next step example, aims to create a series of is to pick one or more winners who flood and stormwater barriers ring- of U.S. competition will be eligible for federal cash, in ing the southern half of Manhattan. the hope of bringing at least one of Those barriers would double as pub- the massive projects to fruition. lic spaces on the model of Battery BY JOE ANUTA “[This competition] is a model Park City or former Mayor Michael for how we can use public-private Bloomberg’s proposal for a Seaport The U.S. Department of Housing partnerships to spur innovation, City.The Big U would wrap around and Urban Development unveiled protect our communities from the the island from West 57th Street, U STAY DRY: Snippets 10 finalists last week in a design from the proposed “Big U” effects of climate change and inspire run down to Battery Park,then back ring of flood barriers competition that aims to bring more action in cities across the world,” up the other side to roughly East proposed for Manhattan

resilient infrastructure to areas HUD Secretary Shaun Donovan 42nd Street. big team affected by Superstorm Sandy. said in a statement. Among the finalists were several that Fully half of the 10 proposals, Barrier islands just eco-friendly flood barriers, but Winners may also receive other would radically alter New York City. culled from about 150 entries from Another plan calls for miles of finding ways to get food from the public- and private-sector funding. The competition was run by a around the world, would signifi- sand dunes off the coasts of New city’s huge wholesale market there Even though some of the propos- York and New Jersey called “blue to the rest of the city via water. als focus on specific areas hard-hit by dunes.” These barrier islands would The initiative was launched in the 2012 storm, the idea behind the bear the brunt of any storm. the summer of 2013, and is also a competition was to make those ideas Three other proposals focused far product of President Barack Oba- replicable across the entire region, more tightly on fixing specific weak- ma’s Hurricane Sandy Rebuilding according to Henk Ovink, principal nesses along the city’s shoreline. To Task Force, though it is funded of Rebuild by Design. protect the hard-hit South Shore of through such private entities as the “If you deliver a design for barri- Staten Island,for example,one of the Rockefeller Foundation. er islands off Long Island, a similar teams is proposing a “necklace of The winning proposals will be solution might make sense in New breakwaters” situated offshore. eligible for HUD’s community de- Jersey,” he said. “Then we can work wxy + west 8 Meanwhile,up in Hunts Point in velopment block grants, although with both communities to see if they BLUE DUNES would act as barrier islands and could be placed along the coast. the Bronx, one plan envisions not the exact size of the pot is unclear. are interested.” Ⅲ

TO PLACE A CLASSIFIED AD CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of CHELSEA Notice of Qualification of GREENLAND Application for Authority of MedAuth, Notice of Qualification of Code NOTICE OF FORMATION OF INVISA RESTAURANT OWNER LLC. Authority LA METROPOLIS DEVELOPMENT I LLC filed with the Secy. of State of NY Fellows NY, LLC. Authority filed with LOGISTIC SERVICES LLC. filed with Secy. of State of NY (SSNY) LLC. Authority filed with Secy. of State (SSNY) on 3/11/14. The LLC was NY Dept. of State on 2/12/14. Office Application for Authority filed with on 03/27/14. Office location: NY of NY (SSNY) on 03/19/14. Office formed in DE 12/12/00. Office loc.: New location: NY County. LLC formed in Secretary of State of New York (SSNY) County. LLC formed in Delaware (DE) location: NY County. LLC formed in York County. SSNY is designated as WA on 1/27/14. NY Sec. of State on 06/19/2012. LLC formed in on 03/19/14. SSNY designated as Delaware (DE) on 02/27/14. SSNY agent of LLC upon whom process designated agent of LLC upon whom DISTRICT OF COLUMBIA on agent of LLC upon whom process designated as agent of LLC upon against it may be served. The principal process against it may be served 11/17/2010. SSNY has been designated against it may be served. SSNY shall whom process against it may be business loc. and address SSNY shall and shall mail process to: c/o CT as an agent upon whom process mail process to c/o Morrison Cohen served. SSNY shall mail process to mail copy of process is 80 Broad St., Corporation System, 111 8th Ave., NY, against it may be served. The Post LLP, Attn: Y. David Scharf, Esq., 909 Greenland US Holding Inc., 515 S. 5th Fl., New York, NY 10004. The NY 10011, regd. agent upon whom Office address to which the SSNY Third Ave., 27th Fl., NY, NY 10022. DE Figueroa St., Ste. 17F, Los Angeles, office address in DE is 203 NE Front process may be served. WA and shall mail a copy of any process addr. of LLC: c/o Corporation Service CA 90071. DE addr. of LLC: 2711 St., Ste. 101, Milford, DE 19963. Cert. principal business addr.: 511 Boren against the LLC served upon him/her Co., 2711 Centerville Rd., Ste. 400, Centerville Rd., Ste. 400, Wilmington, of Formation filed with Jeffrey W. Ave N #200, Seattle, WA 98109. Cert. is: 1566 33rd St. NW, WASHINGTON, Wilmington, DE 19808. Arts. of Org. DE 19808. Arts. of Org. filed with Bullock, DE Sec. of State, Div. of of Org. filed with WA Sec. of State, D.C., 20007. The principal business filed with Secy. of State, Div. of Secy. of State of State of DE, DE Corporations, PO Box 898, Dover, DE 801 Capitol Way So., Olympia, WA address of the LLC is: 1566 33rd St. Corps., John G. Townsend Bldg., Dept. of State, Divs. Of Corps., John 19903. Purpose: Any lawful activity. 98501. Purpose: all lawful purposes. NW, WASHINGTON, D.C., 20007. 401 Federal St., Ste. 4, Dover, DE G. Townsend Bldg., 401 Federal St.- NEW YORK address of LLC is: 80 19901. Purpose: Any lawful activity. Ste.4, Dover, DE 19901. Purpose: Notice of Formation of ZHU LAW FIRM, Notice of Formation of LSG Batting MAIDEN LANE, ROOM 302, NEW Any lawful activity. PLLC. Arts. of Org. was filed with Cages, LLC. Arts of Org filed with YORK, NY 10038. Certificate of LLC Name of PLLC: Carol L. Goldstein SSNY on 2/26/14. Office location: New Secy of State of NY (SSNY) on filed with Secretary of State of NEW DC PLLC. Arts. of Org. filed with NY Notice of Formation of NFF New York. SSNY designated as agent of 10/1/2012. Office location: New York YORK located at: ONE COMMERCE Dept. of State: 2/21/14. Office loc.: Markets Fund XXXV, LLC. Arts. of LLC whom process against may be County. SSNY designated as agent of PLAZA, 99 WASHINGTON AVE, NY Co. Sec. of State designated Org. filed with NY Dept. of State on served. SSNY shall mail process to: LLC upon whom process against it may ALBANY, NY 12231. agent of PLLC upon whom process 2/24/14. Office location: NY County. 1501 Broadway, 12th Fl. #12127, be served. SSNY shall mail process against it may be served and shall Sec. of State designated agent of New York, NY 10036. Purpose: to to: The LLC, 270 Broadway, Apartment Notice of Formation: The Law Office mail process to: c/o Business Filings LLC upon whom process against it engage in the practice of Law. 26BT, New York, NY 10007. of Poorvi Chothani PLLC Arts. of Org. Inc., 187 Wolf Rd., Ste. 101, Albany, may be served and shall mail Purpose: Any lawful purpose. filed with SSNY 2/14/2014. Off. Loc.: NY 12205, regd. agt. upon whom process to: Nonprofit Finance Fund, AKSHAYA LLC, a foreign LLC, filed New York Cnty. SSNY designated as process may be served. Purpose: 70 W. 36th St., 11th Fl., NY, NY with the SSNY on 3/5/14. Office Notice of Formation of SKYLABS agent of LLC whom process may be practice chiropractic. 10018, principal business address. location: New York County. SSNY is MEDIA LLC. Arts. of Org. filed with served. SSNY shall mail process to: Purpose: any lawful activity. designated as agent upon whom Secy. of State of NY (SSNY) on c/o the LLC, 244 Madison Ave., Suite Notice of Formation of Recast 431 process against the LLC may be 03/28/14. Office location: NY County. 2350, New York, NY 10016. Purpose: Warren Street, LLC. Arts. of Org. filed Notice of Formation of CARLO BIGI served. SSNY shall mail process to: Princ. office of LLC: 16 E. 34th St., all lawful activities. with NY Dept. of State on 11/26/2013. EXECUTIVE CHEF, LLC. Arts. of Org. Grant, Hermann, Schwartz & Klinger, 15th Fl., NY, NY 10016. SSNY Office location: NY County. Princ. bus. filed with Secy. of State of NY LLP, Attn: Richard L. Hermann, Esq., designated as agent of LLC upon NOTICE OF FORMATION OF CITY addr.: 1 MetroTech Ctr., Brooklyn, NY (SSNY) on 01/08/14. Office location: 675 3rd Ave., 26th Fl., NY, NY 10017. whom process against it may be HALL MEDICAL SUPPLIES, L.L.C. Arts 11201. Sec. of State designated NY County. SSNY designated as General Purposes. served. SSNY shall mail process to of Org filed with Secy of State of NY agent of LLC upon whom process agent of LLC upon whom process Corporation Service Co., 80 State (SSNY) on 11/15/13. Office location: against it may be served and shall against it may be served. SSNY shall Doppio Hudson Street LLC. Arts. of St., Albany, NY 12207-2543. NY County. SSNY designated agent mail process to: 131 W. 24th St., Apt. mail process to Corporation Service Org. filed with Secy. of State of NY Purpose: Social media marketing, upon whom process may be served 2, NY, NY 10011, Attn: Betsy Jacobs, Co., 80 State St., Albany, NY 12207, (SSNY) on 09/17/13. Off. loc.: New digital media, communications & and shall mail copy of process regd. agent upon whom process may regd. agent upon whom and at York Co. SSNY des. as agent of LLC public relations and branding. against LLC to principal business be served. Term: until 11/24/2063. which process may be served. upon whom process may be served. address: 281 Broadway, 2nd Flr, NY, Notice of Qualification of RCB3 Purpose: all lawful purposes. Purpose: Any lawful activity. SSNY shall mail process to 24 NY 10007. Purp.: any lawful act. Clinton Ave., Huntington, NY 11743. Rental LLC. Authority filed with NY Notice of Qualification of Unitas Notice of Qualification of Guterman- Purpose: General. Dept. of State on 3/24/14. Office Notice of Qualification of EMERALD Global LLC. Authority filed with Secy. CPW Partners, LLC. Authority filed location: NY County. Princ. bus. EXPOSITIONS, LLC. Authority filed of State of NY (SSNY) on 3/17/14. with Secy. of State of NY (SSNY) on Notice of Formation of COREY S. addr.: 125 High St., High St. Tower, with Secy. of State of NY (SSNY) on Office location: New York County. LLC 3/25/14. Office location: New York SCURLOCK, M.D., MEDICAL ADVO- 27th Fl., Boston, MA 02110. LLC 03/12/14. Office location: NY County. formed in California (CA) on 8/21/09. County. LLC formed in Delaware (DE) CATE, PLLC. Arts. of Org. filed with formed in DE on 2/10/14. NY Sec. of LLC formed in Delaware (DE) on SSNY designated as agent of LLC on 3/24/14. SSNY designated as Secy. of State of NY (SSNY) on State designated agent of LLC upon 01/11/94. SSNY designated as agent upon whom process against it may be agent of LLC upon whom process 03/19/14. Office location: NY County. whom process against it may be of LLC upon whom process against it served. SSNY shall mail process to: against it may be served. SSNY shall Princ. office of PLLC: 224 W. 18th served and shall mail process to: c/o may be served. SSNY shall mail process National Registered Agents, Inc., 111 mail process to: 1721 Breakers West St., Apt. 8A, NY, NY 10011. SSNY CT Corporation System, 111 8th to c/o Corporation Service Co., 80 Eighth Ave., NY, NY 10011. Address Blvd., West Palm Beach, FL 33411. designated as agent of PLLC upon Ave., NY, NY 10011, regd. agent State St., Albany, NY 12207-2543. DE to be maintained in CA: 453 S. Spring Address to be maintained in DE: 160 whom process against it may be upon whom process may be served. addr. of LLC: 2711 Centerville Rd., Ste. St., Ste. 728, Los Angeles, CA 90013. Greentree Dr., Ste. 101, Dover, DE served. SSNY shall mail process to DE addr. of LLC: 1209 Orange St., 400, Wilmington, DE 19808. Arts. of Arts of Org. filed with the CA Secy. of 19904. Arts of Org. filed with the DE c/o Tannenbaum Helpern Syracuse & Wilmington, DE 19801. Cert. of Form. Org. filed with DE Secy. of State, Div. State, Business Entities, 1500 11th Secy. of State, John G. Townsend Hirschtritt LLP, Attn: Brian A. Haskel, filed with DE Sec. of State, 401 of Corps., John G. Townsend Bldg., St., Sacramento, CA 95814. Bldg., 401 Federal St., Ste. 4, Dover, DE Esq., 900 Third Ave., NY, NY 10022- Federal St., Dover, DE 19901. 401 Federal St. - Ste. 4, Dover, DE Purpose: any lawful activities. 19901. Purpose: any lawful activities. 4775. Purpose: Practice of medicine. Purpose: all lawful purposes. 19901. Purpose: Any lawful activity.

26 | Crain’s New York Business | April 7, 2014 cost so much that Verizon might hike CLOGGED rates on duct space, making it even Central Park NYC’s fiber mess harder for small players to compete. ARTERIES But Christopher Mitchell,direc- Continued from Page 1 filled with cables from defunct In- tor of telecommunications at the Stealth Communications wanted to connect Columbus W. 58th St. Columbus network are in rough shape:Clogged ternet providers that went belly-up nonprofit Institute for Local Self- Circle to its broadband Circle or collapsed conduits force construc- after the dot-com bust in 2000.Ver- Reliance, argues that, eventually, an network by routing cable from tion crews to detour south in order to izon itself left severed copper wire in upgraded underground network the closest endpoint, at West go north as they run fiber from one lower Manhattan ducts after in- would more than pay for itself. He 51st Street and Sixth Avenue. W. 54th St. neighborhood to another. stalling a fiber-optic network fol- also believes that fiber should be But clogged or collapsed conduits in the underground The extra mileage means the lowing Superstorm Sandy. (The treated as a public utility. system managed by Empire data take longer to reach cus- company says the cables could be City Subway forced the tomers—a prob- easily removed, if needed.) Public-utility model company to take the long W. 50th St. lem for finance CROSSED Shrihari Pandit, chief executive “It’s foolish to think that we can way, adding 6,500 feet and Broadway companies, which WIRES of the small independent broadband just leave it to the market to use this $100,000 in costs. count their con- FIRST IN AN provider Stealth Communications, limited space under the street effi- Existing network W. 46th St. nections in OCCASIONAL said that asking ECS to open ciently,” Mr. Mitchell said. “The Desired path nanoseconds. And SERIES blocked conduits leads to long de- fiber needs are tremendous, and if Route taken the extra costs lays for roadwork that can cost tens New York over time can expand ac- 1. Stealth ran cable west make it tough on the city’s few inde- of thousands of dollars to complete. cess to a lot of fiber at low cost, we’ll across 41st Street from W. 42nd St. pendent broadband providers, who Last month, Mr. Pandit needed see all kinds of [innovation].” Seventh Avenue to Eighth. Bryant have narrow profit margins and to run a fiber-optic cable from He added that New York might 2. Then it headed north on Park shallow pockets compared with the Rockefeller Center to Columbus be best served by the public-utility Eighth Avenue to 58th big operators. Circle—a 3,700-foot shot up Sixth model embraced by Stockholm and Street, where it turned west W. 38th St. Avenue and then west on 59th Santa Monica, Calif., and under again, toward Ninth Avenue. ‘More competition’ Street. But blocked ducts forced consideration now in Baltimore, in 3. Stealth ran cable up Ninth to 60th Street, finally Sixth Ave. Eighth Ave.

“We should have wide-open facil- him to start down on 41st Street and which the city builds a fiber back- Ave. Ninth ities underneath the streets of New Seventh Avenue instead, and go as bone.Internet service providers lease traveling east to its W. 34th St. York that allow any independent far west as Ninth Avenue to find an access to that fiber at low cost and destination: Columbus Circle. provider to run fiber,” said Susan uncongested route. The detour compete to offer specialized services Crawford, a former technology ad- added 6,500 feet, $100,000 and 13 as part of the “last-mile” connection underserved neighborhoods. But 95 miles of aboveground track viser to the Obama administration. days to the job, he said. to the home or business. (Chat- whether the fiber is public or pri- through northern Manhattan and “The city could be requiring ECS to “If the city wants there to be tanooga provides both the backbone vate, the long-term goal is more the outer boroughs could be used to expand its conduit and keep it in bet- more competition, there have to be and last-mile service.) competition among providers, ac- string fiber-optic cable that ISPs ter shape.There would be much more more conduits,” Mr. Pandit said. Given the enormous costs of cording to a City Hall insider. could tap into. competition if the city did its job.” “We’re zigzagging around the city to building a network in New York,the Improving Empire City Subway But something must be done to ECS,once controlled by Ma Bell get our cable through. It’s insane.” number of providers here and the is also on the table. “For years, the improve ECS,industry veterans say; and now a subsidiary of Verizon, Even if Verizon were compelled fact that Verizon is already running city didn’t take an active role in what otherwise,the conduits will only be- says that it does maintain its miles of to clean up the spaghetti-like chaos FiOS through the entire city, any ECS was doing,” said Stanley Shor, come harder to use. “The more you conduits. As proof, a Verizon underground, however, the task municipal network would have to be assistant commissioner for franchise have to get around, the more cable spokesman pointed to its high- would be lengthy and complicated. installed in a targeted fashion, Mr. administration at the Department of you put in the street,” said Brad speed FiOS network, which the “Anytime you touch anything in Mitchell acknowledged. He added Information Technology and Tele- Ickes, president of independent company threaded through the sys- those manholes, you’re at risk of an that improving access to build- communications,which oversees the provider Optical Communications tem (and which delivers a top Inter- outage,” said Robert Bianco, Man- ings—a frequent stumbling block franchise under which ECS oper- Group. (OCG and Verizon have net speed half that of Chattanooga’s hattan general manager for major that has slowed FiOS’ deploy- ates. “We’re reviewing the rules, and been locked in a legal dispute since for about $300 a month). broadband provider TW Telecom. ment—is also key. there may be some changes.” 2008.) “And then everything gets But businesses that lease space in “It’s very difficult for ECS to say Mr. de Blasio and Maya Wiley, The city’s quest to have more more congested,because everyone is the ECS network for their own what’s live and what’s not. So it al- the administration’s point woman competition for those last-mile going that way.” Ⅲ fiber-optic cable say that Verizon ways becomes, ‘We’ll put in more on broadband access, are consider- services could ultimately take it to doesn’t worry about keeping the sys- and leave what’s there.’ ” ing a wide range of solutions, in- elevated train tracks. The Metro- LISTEN to a discussion at tem clear for others. Conduits are Cleaning up the system also could cluding installing municipal fiber in politan Transportation Authority’s CrainsNewYork.com/podcasts

a Better New York. “We just started Road said that while the intent of the implementing paid sick days yester- vacation-leave bill appears worthy,it Now comes paid ‘vacation leave’ day, so I’m really focused on that is not a priority issue for his group. right now,”she said last Wednesday. “We really need to see a strategy Continued from Page 3 desk of whichever council member is 31. Few seemed particularly en- Seven years ago,the Washington, behind how to actually move this Manhattan Councilman Corey seen as most sympathetic to the cause thused by its introduction, citing D.C.-based Center for Economic forward,”he said.“We don’t feel that Johnson, didn’t realize he was the (or most likely to shepherd it to pas- concerns from employers in their and Policy Research produced a re- introducing legislation without any only other member to sign on to it sage). These bills then go through districts about the rush to comply port that found the U.S. to be the strategy helps anybody.” before it was introduced, one source several drafting rounds with the with the recently expanded paid- only developed country in the world Mr. Williams’ aides cite a recent said. (Mr. Johnson did not respond council’s legal staff to ensure every ‘T’ sick-leave law. that does not legally guarantee vaca- bill mandating paid vacation time in to a request for comment.) is crossed and every term defined. “We can’t keep nickel-and- tion time. John Schmitt, one of the Washington state as inspiration. But Under the proposed bill, vaca- But sometimes bills spring spon- diming small businesses,” groused report’s authors,said he hadn’t heard in a subsequent interview, Mr. tion time would be accrued based on taneously from the minds of council one council member, noting the of the New York bill,but said it could Williams distanced himself from his the amount of time worked.An em- members (or the minds of their leg- paid-sick-leave law had not even represent a “small step” toward own legislation,arguing that he intro- ployee would earn 40 annual hours islative directors), without any con- gone into effect before the vacation bringing that benefit to the U.S. duces dozens of bills and that this one of paid vacation time upon reaching sultation from advocacy groups or bill emerged. Mr. Williams may have doomed was meant to serve as a “conversation 12 months of work, 60 hours per stakeholders on the potential impact. “We got to pump the brakes a lit- his bill’s chances by declining to go starter.” year at 18 months, 80 hours at 30 The paid-vacation-leave bill ap- tle on this stuff,” said another. the more established route of involv- “An idea has been introduced,” he months, and 120 hours for 60 pears to have taken the latter route. Indeed, while Mr. de Blasio has ing the various think tanks and pro- said. Bringing advocates on board months.This,on top of the five days been an unabashed booster for paid gressive groups in the drafting of the “happens after you’ve decided you already required for each employee Tepid response sick leave, his office declined to take legislation. Mr. Valdés of Make the want to push this forward.” Ⅲ under the paid-sick-leave law that “Nobody asked our opinion be- a stance on Mr. Williams’ bill. went into effect April 1, amounts to fore it [was introduced],” said Javier “The administration has not re- as much as four weeks of paid time Valdés, co-executive director of im- viewed the legislation, and is fo- CORRECTIONS off a year. migrant-rights group Make the cused on ensuring that the millions Thomas F. Prendergast is the chairman and chief executive of the Metropolitan Transportation Authority. Most employers provide paid va- Road,who was one of the authors of of New Yorkers now covered by paid This fact was misstated in the March 24 list of the New York area’s largest employers. cation time, but some smaller busi- the paid-sick-leave bill. sick leave get the benefits they de- John Ragan is one of three people in the world who has both a master sommelier title and a James nesses are unable to or can’t afford it, The Working Families Party also serve, and that the businesses that Beard Award for Outstanding Wine Service. This fact was misstated in the March 24 “Wine’s world.” or do so on a looser, less-regulated was not involved in writing the paid- employ them have the information The Broadway hit Wicked has returned 1,000% for its investors since it opened 10 years ago. This basis. The Brooklyn councilman’s vacation-leave legislation, a source they need to effectively implement information was misstated in the March 24 “Wicked returns for investors.” bill calls for employers to be fined said. Nor was the legal-advocacy the new law,”a spokeswoman for the SEIU 32BJ, the union representing residential workers, is in contract negotiations with the Real Estate $500 or more for failing to provide group A Better Balance. Both or- mayor said. Advisory Board. Employers pay $14,795 per year toward each residential worker’s health insurance paid vacation time to workers. ganizations helped craft the sick- Alicia Glen, deputy mayor for plan. These facts were misstated in the March 24 Stats and the City. Legislation introduced in the leave bill. housing and economic develop- Everyday Health Inc.’s subscription revenue fell by $2.7 million last year. This fact was misstated in the council often originates from within Other members of the council ment, was similarly evasive when March 24 In the Markets. progressive grassroots organizations said they only first heard of the bill asked about the bill after delivering Yaopeng Zhou won the top prize of $75,000 in the New Venture Competition last May. The name of the and think tanks before landing on the after Crain’s broke the news March a speech before the Association for competition was misstated in the March 17 “Courses focus on giving back.”

April 7, 2014 | Crain’s New York Business | 27 20140407-NEWS--0028-NAT-CCI-CN_-- 4/4/2014 7:15 PM Page 1

marginal taxation. their clients are often surprised to market their product as an estate- “It’s bad tax policy,” said Ronald learn how much they are worth. planning tool. Life-insurance ben- Estate-tax flap Weiss, a partner at Skadden Arps “We live in a place where hous- efits can pass outside the govern- Slate Meagher & Flom who spe- ing prices are high,” said Brit ment’s reach if the policy is housed Continued from Page 3 budget office did not dispute that the cializes in trusts and estates. “The Geiger, a partner at Dentons who in an irrevocable trust, and many For estates worth more than that, legislation could produce such a re- governor’s message was, ‘Wealthy specializes in estate planning and people buy policies so the death however, experts like Mr. Matz say a sult. “Above the new exemption lev- New Yorkers are leaving New York, wealth preservation. “A home in benefit can be used to defray estate massive predicament looms.A near- el, that dynamic does exist,” he said. and we need to get them some tax many parts of New York City is taxes. ly impenetrable patch of code in the The New York State Society of relief.’ This bill is not consistent worth millions.” “One of the drivers in selling life new law could impose bills higher CPAs has already fired off a letter to with that message.” insurance is wealth enhancement,” than the taxable portion of an estate. Albany lawmakers suggesting ways Mr. Cuomo is taking heat from Primary beneficiaries said Mr. Weiss. “With the exemp- “It creates a problem where if to fix the law, which was largely advocates on the left, too.“These re- Mr.Weiss added that 401(k) ac- tions going up,I would surmise there you’re just a little bit above the ex- hashed out behind closed doors and forms are just part and parcel of the counts and sundry other invest- would be less need for life insurance.” emption,you could pay $1.64 in tax- passed in a rush on March 31. wider approach to favor the wealthy ments, when combined with prop- But Mr. Weiss’ concern remains es for every dollar you go over,” he The group identifies as a major through tax cuts,” said a spokesman erty values, push the estates of the revenue loss facing New York as said. “If it’s not a mistake, it’s some- culprit the law’s accelerated phase- for the Working Families Party.“The many downstate New Yorkers into the state’s richest residents flee a what laughable.” out of a tax credit that the well-off governor’s budget fails to provide re- the $2 million range and higher. perceived confiscatory tax. Some have long used to shrink the size of lief to the working middle class.” They will be the primary benefici- studies have found that estate taxes Rushed into law their estates. Because of the steep But liberal groups’ criticism is aries of the first few years of the drive migration more than income Mr. Matz posited the hypotheti- timetable under which the credit flawed,some estate-planning experts reforms. taxes do. cal case of a New Yorker who in 2017 will disappear,New Yorkers with es- say,especially given how the first few As those millionaires come off “For the wealthiest New Yorkers, leaves an estate worth $262,500 tates worth up to 5% more than the years of the new law will play out. the estate-tax rolls, however, the moving to Florida may be nothing more than the $5.25 million exemp- exemption level will find it increas- Many New Yorkers who didn’t con- industry that has been protecting more complicated than moving your tion. His calculations show the es- ingly difficult to use the credit. sider themselves rich but found them from the tax man will begin domicile,” he said.“If you’re well-off, tate would pay $430,050, a marginal Those with estates larger than that themselves facing unexpected estate to lose clients. More than just it doesn’t take a lot of effort to reori- tax rate of 164%. will lose the credit entirely,exposing taxes under the old law will now be estate-planning lawyers will be af- ent your life,especially if New York is A spokesman for the state’s them to an arguably punitive level of spared. Estate-law professionals say fected: Sellers of life insurance also still an unfriendly place to die.” Ⅲ

“The market is very hot right share price of Silicon Valley-based aging director at investment bank IPOs for NY ad tech now,” said Michael Rubenstein, Rocket Fuel more than doubled on Coady Diemar Partners, which fo- president of AppNexus, one of New its first day of trading last October, cuses on technology and media. He York’s biggest technology compa- but as of Friday was down 35% year includes AppNexus in that group Continued from Page 1 one: He’ll soon announce the hiring nies,with nearly 600 employees,well to date. because it has long-term contracts glossaries to explain its basic terms, of a general counsel and a chief op- over $100 million in revenue and to- “Even if you think you’re produc- with the companies that use its tech- but it’s also where New York has erating officer,both with experience tal transactions on its platform last ing good metrics,you still have to be nology and doesn’t rely exclusively played a leading role since the helping companies go public. year of more than $1 billion.“But we paranoid,” Pivotal Research Group on media-buying dollars. founding of DoubleClick in 1996. He’s not the only one who sees an would need to feel confident that analyst Brian Wieser said of players “If you’re getting a percentage of Industry growth is soaring amid a exit on the horizon.Other New York [going public] would advance mate- in the ad-tech space. “There’s going a media buy, there’s a lot of money, rapid shift in the ad market toward firms believed to be ready to go pub- rially the aspirations of the business, to be a shake-out at some point.” but it’s fickle,” Mr. Knudsen said. automated buying and selling. lic include AppNexus, Mediaocean, that it would allow us to go and ac- Nonetheless, these ad-tech Companies that few people have Collective and MediaMath. Out- complish what we want to as a com- companies are becoming part of the Searching for stability heard of—but with nearly triple- brain, a content discovery platform pany,and right now we don’t need to advertising industry’s fastest- Collective seems to have already digit revenue growth—are consider- that uses sophisticated technology be public to do that.” growing segment: where dollars are embarked on the path toward a ing their cash-out options. to target users, is also on the list. spent on real-time bidding of in- more stable revenue stream. The Most of them, like PulsePoint, Reasons to be leery ventory that is bought and sold in a nine-year-old, long-profitable Eyes on AppNexus belong to an ad-tech segment AppNexus doesn’t have to, part- “programmatic” manner—that is, New York ad-tech company, which “We think [the Rubicon IPO] is likened to the electronic trading ly because it is establishing a posi- using automated processes to target has more than $200 million a year total confirmation of where the platforms that long ago took over tion in the industry as a runner-up the audiences that marketers want in revenue, has no plans to go pub- world is moving to, and confirma- Wall Street. And similar to what (and alternative) to Google in sup- to reach. lic, though it is IPO-ready, accord- tion of what Wall Street thinks of happened in finance, the real-time plying ad-tech services, and booked By 2017, programmatic adver- ing to founder and CEO Joe companies in our space,” said Sloan bidding on Web audiences and au- $75 million in a financing round last tising using real-time bidding will Apprendi. Gaon,chief executive of PulsePoint, tomated buying and selling of ads year. But there are other reasons for be the dominant digital-advertising Its focus, instead, is on expand- an ad-tech business formed two are quickly gaining ground on the ad-tech shops to be leery of an IPO. segment, controlling 41% of total ing its relationships with big mar- years ago out of veteran companies rest of the digital-advertising busi- Some analysts consider the in- online and mobile display ad spend- keters, including managing their Datran Media and ContextWeb. ness, which still involves people dustry highly competitive, with not ing in the U.S.,according to research data, not just their media cam- Mr. Gaon—who notes Pulse- talking to each other. a lot of differentiation among many firm IDC. paigns. Point is profitable, with 85% rev- But though ad tech appears to be of the companies. And despite The ad-tech companies that per- “We’d like to see that business enue growth last year and projected the future of Madison Avenue,some rapid revenue growth, margins are form best in that segment will be grow, so we have a lot more pre- 50% growth this year—says he of the most successful New York notoriously narrow. the ones with the most stable and dictability,” Mr. Apprendi said. doesn’t know yet if he’ll do an IPO, players are taking their time about Even companies that have suc- contractually recurring revenue “Predictability is critical to being but he is laying the groundwork for going public. cessful IPOs face challenges. The streams, says Colin Knudsen, man- successful as a public company.” Ⅲ

draws Brooklyn Health Partners LICH’s continued operating losses. have a seat on the board of a non- and Quorum into a regulatory SUNY has made it clear it will end its state facility. The idea is sound po- Brooklyn bidders process that experts say has never ownership around May 22. litically, but could require a change before been completed on the time- Even if its affiliate got approval in statute to have government par- Continued from Page 1 answered before this is approved.” line proposed in the SUNY bid. to operate LICH, why would a for- ticipate in a private entity. Brooklyn. Brooklyn Health Partners is a To be qualified on a temporary profit company be willing to assume Another hurdle is presented by But the complex deal faces multi- for-profit company created to sub- basis to run a hospital,individuals af- millions of dollars in financial liabil- the selection of Quorum to operate ple legal, regulatory and political mit a $250 million bid for LICH. It filiated with Brooklyn Health Part- ity for LICH? For that reason, there LICH. State law allows for-profit challenges.There is no precedent for hopes to build a 300- to 400-bed, ners must undergo the state’s certifi- is much speculation that LICH will companies to manage nonprofit a company with virtually no experi- full-service hospital that would be cate-of-need vetting process on an close and the Health Department’s hospitals. But the state Health De- ence with New York hospitals to op- managed by Quorum Health Re- emergency basis. Under a new state emergency power will not be called partment must approve the contract erate one through a management sources, a for-profit firm based in regulation that has been used only upon. language and vet individuals’ back- contract with a for-profit firm.Shep- Brentwood, Tenn. once before, the state health com- Under that scenario, Brooklyn grounds as it would for a licensed herding Brooklyn Health Partners’ The bidder said it will create a missioner has emergency powers to Health Partners’ proposed operator hospital operator. Several hospitals plan for LICH into reality will re- separate nonprofit entity to own and approve an operator if a facility’s pa- could apply for a hospital license on formerly managed by Quorum have quire an unwavering political man- operate the hospital. In a sale- tients are not getting good care. a permanent basis. The process, sued the company. The state must date, as well as solidarity between leaseback deal, Brooklyn Health however, normally takes years. review such past litigation. Brooklyn politicians and Albany. Partners will be landlord to the new Years-long process The Brooklyn Health Partners A Quorum spokeswoman did not “There are many hurdles to cross hospital and lease the facility to an Health care experts say that the in- proposal faces another challenge. In address the lawsuits. In a statement, before this becomes a reality, even affiliated entity that will be the hos- terpretation of that law can be manip- a move to garner support, the com- she said, “It has been our company’s with the political pressure to resolve pital’s operator. ulated if Gov. Andrew Cuomo wants pany specified that the governor and mission to help community hospitals those issues,” said a legal expert on New York law requires a hospital those emergency powers applied in the mayor both would appoint survive and thrive. … We have been state health regulations who asked to be owned by individuals who can the case of LICH. But even if a tem- members of the hospital’s board of honored to serve more than 700 hos- not be identified because of involve- be vetted for “character and compe- porary license to operate a hospital is trustees. That plan raises a legal red pitals across the country.” ment in the LICH bidding process. tency” and financial means, among approved, legal experts questioned flag. The state regulates hospitals, None of those hospitals are in “There are serious questions to be other measures. That regulation who would be on the hook for and it would be a conflict for it to New York. Ⅲ

28 | Crain’s New York Business | April 7, 2014 HELLUVA TOWN INSIDE Source Lunch Architects’ group prez draws up plans PAGE 30 Out and About weedmaps.com Behind the scenes Not-so-evil weed of FX’s Fargo PAGE 31 Times Square is crammed with digital billboards displaying barely clothed models and promos for violent movies, but a 10-second ad from Weedmaps.com featuring a puff of smoke is getting a rigorous GETTING HIS vetting that so far has prevented it PROPS: Producer from going live on the CBS Super Larry Kaye on the set Screen on West 42nd Street. of Velocity of Autumn The Denver-based company at the Booth Theatre. wants to announce in a big way the launch of its New York website, which among other things offers cheeky advice on hot spots to visit while stoned and advocates for the legalization of marijuana. If the ad, High NYC, ever lights up, it would be the first-ever pot commercial in Times Square. “We are in limbo,” said Weedmaps.com Chief Executive Justin Hartfield, whose company is essentially an online community for marijuana users. Weedmaps paid a deposit for the $50,000 ad, which was supposed to go live on April 1 and run 10 seconds per hour, and 18 hours a day over 61 days, for a total of 1,098 runs. Mr. Hartfield was told CBS’ legal counsel is reviewing the ad. “If you get something that’s out of mainstream, which is what this would be, it gets reviewed,” said Ray Shapira, vice president of screen and event marketing for Neutron Media, which sells ads for the billboard. “We are at the mercy of the legal team.” —lisa fickenscher Riots recalled

June 28 will mark the 45th anniversary of the Stonewall Riots, and the start of a major initiative by StoryCorps to record the experiences of the LGBTQ community. Called OutLoud,it’s the nonprofit’s ninth initiative to preserve an oral history of a certain group. The three-year campaign has special significance for StoryCorps’ founder and Changing roles president, Dave Isay (left). When he was 22 years Larry Kaye makes transformation from lawyer old, his father, psychiatrist to lead producer on Broadway Richard Isay, revealed he was gay. Dr. Isay buck ennis fought to end the story corp story idea that BY THERESA AGOVINO RAISING homosexuality was a mental THE CURTAIN illness. “I thought he was fighting for what was right,” said Mr. Isay. roducer Larry Kaye stood at the back of the Booth Theatre, admiring the Velocity “I didn’t realize he was gay.” of Autumn set, which he was viewing for the first time on Broadway. ¶ “I’m so Dr. Isay died in 2012, after exhilarated right now,” he said of the stage, designed to look like the inside of a marrying his partner of 31 years. $2.5M Mr. Isay hopes OutLoud will hear Brooklyn brownstone, complete with moldings, a fireplace and a big picture COST TO STAGE from young members of the window.Then he added in a hushed tone as if talking about a young bride, Velocity of Autumn community as well as those who are old enough to recall the “Doesn’t the tree just look beautiful?” ¶ That bark and foliage outside the atmosphere 50 and 60 years ago. window is key to the action in the play Mr. Kaye has been working on bringing “Every experience is important,” to American theater’s high altar for about two years. For Mr. Kaye, 52, the dark he said. He added that there is a 766 special urgency to record those comedy’s Broadway debut marks a milestone in a continuing journey he started about six years ago NUMBER OF SEATS who recall the days before, during to transform himself from an attorney specializing in workplace and civil-rights issues to a full- in Booth Theatre and after Stonewall because they Ptime producer. It is his first show as a lead producer on the Great White Way. ¶ “I’m slowly are getting older. “Stonewall was like the Rosa Parks moment [for phasing out [my litigation work] because I can’t stand the constant fighting. It takes a toll,” said the LBGTQ community],” said Mr. Isay. Mr. Kaye, who has either invested in or co-produced five Broadway shows and hopes to fully give —theresa agovino up his law practice in two years. ¶ Mr. Kaye isn’t the only one making See SPRINGTIME on Page 30

April 7, 2014 | Crain’s New York Business | 29 SOURCE LUNCH: Springtime for Autumn LANCE BROWN sam lahoz by Joe Anuta Continued from Page 29 Velocity was a good choice for a partner would help. He chose Mr. an inaugural run. His co-lead pro- first project for a variety of reasons, Dean in part because he was a force ducer, Van Dean, has never led a including its subject matter and low in getting him to Broadway. The Broadway staging; and writer Eric budget, both producers agree. Mr. two met when Mr. Dean was pro- Coble and director Molly Smith Kaye found the work through his ducing Rooms, a rock musical, in Architect searches are making their Broadway debuts. friendship with Mr.Coble.He read Washington in 2008. Mr. Kaye be- Having so many newbies lead- it, loved it, saw the Cleveland pro- came an investor in that show when ing a production is rare, and not duction and then optioned the it was staged off-Broadway. necessarily in a good way, Broad- show. Mr. Dean said he was able to at- globe for new ideas way experts say. New plays tend to It tells the story of a 79-year- tract about $750,000 in commit- be challenging to sell, and having a old artist who has barricaded herself ments within two weeks after join- team taking their maiden Broad- in her brownstone and is threaten- ing the production last fall. “There ance Brown was elected Is asking the citizens of New York way voyage together would only ing to blow it up with Molotov was a lot of interest,” he said. president of the Ameri- whether historic districts should be add to the risk in a notoriously dif- cocktails if her family puts her in a Craig Horsley,a veteran Broad- can Institute of Archi- removed so there can be more hous- ficult industry. Only 25% of shows nursing home. Her estranged son way investor, sank $36,000 into the tects’ New York chapter ing a good question? I don’t think it ever turn a profit. climbs up the tree to enter his show, and will be getting his first in December, a position is.I want to see every piece of unused “Experience doesn’t save you mother’s house through the win- producer credit. He was attracted Lhe hopes to use to broaden the dis- property in the city built on before I from disasters,” Mr. Kaye respond- dow to dissuade her from that plan. to the show’s low capitalization, cussion about sustainability,resilien- have to answer that. ed. “Asking for advice is a sign of script and one of its stars.“I’m a real cy and affordable housing in New strong leadership.” Smaller is better fan of Estelle Parsons,” he said, York City. He also touches on those How do you see the city’s architecture Meanwhile, there are a couple of After optioning the play, he be- adding that she could “be a con- topics as a professor at CUNY. The changing now that Carl Weisbrod has veteran actors involved who could gan looking for a theater. Early on, tender for a Tony Award.” architecture institute has long part- replaced Amanda Burden as the chair of tip the scales in a favorable direction: he was in discussions with the Shu- The trick, of course, is getting nered with the city and big-thinking the City Planning Commission? The two-person cast includes Acad- bert Organization about a venue people into the seats. Ms. Parsons’ nonprofits such as the Regional Plan In terms of architecture, Amanda emy Award winner Estelle Parsons that he ultimately deemed too large. celebrity—she won an Academy Association on housing decisions was perceived as being very particu- and Tony winner Stephen Spinella. Instead, he grabbed the Booth, Award for her role in the 1967 and reports, including the AIA’s lar about the design firms that got Mr. Kaye adds that his team has which has 766 seats.“It’s better to be movie Bonnie and Clyde and was in- Post-Sandy Initiative, which Mr. work approved in the city of New plenty of theatrical experience. Mr. in a smaller theater,” said Mr. Kaye, troduced to a new generation as the Brown helped write. York. My assumption is that that Coble has had other works per- who had been involved in the the- title character’s mother in the hit A principal at Lance Jay Brown particularity will no longer exist. formed at the Kennedy Center and ater scene in the Washington area, TV show Roseanne—has earned Architecture + Urban Design since the New York and Edinburgh where he practices law.“It’s cheaper, the play some major exposure. Ms. the 1970s, Mr. Brown often posits So what does that mean going forward? fringe festivals. Velocity has already and it is always great to say you have Parsons was on the Today show and ideas gleaned from his work with the I think in Amanda’s mind, she want- been produced three times, includ- a sold-out show.” is slated to be on Katie this month. international architecture communi- ed to raise the level of design quality. ing a run last year at the Arena Stage Waiting for a smaller theater ty: What if buildings were land- … My concern is that there be more in Washington, D.C., where it re- had benefits. The play was staged Hurdles remain marked for only 10 years, or if proper- people at the table and that the qual- ceived largely favorable reviews. at the Arena,making it easy for Mr. Still, there are challenges. The ties were taxed more if they ity that was being sought Ms. Smith, a 40-year theater Kaye to bring investors to see the producers haven’t yet finished rais- were underdeveloped? WHERE after remains high. veteran who has been the Arena’s show. It also gave Mr. Coble more ing the $2.5 million. Also, early on, artistic director since 1998,directed time to work on the script. For ex- advance ticket sales were slower What do you think about THEY Where do we need to go on the play there and will do the same ample,Mr.Coble said Washington than expected, so the print ad cam- taxing underdevelopment? DINED questions of Sandy and on Broadway. Meanwhile, Mr. audiences wanted to know more paign was refined last month. Ini- I think it’s great. Make the RIVERPARK resiliency? Dean has already co-produced nine about why the mother and son tially,it showed a photo of Ms.Par- ground work. To me, it’s a 450 E. 29th St. There is a bigger picture other Broadway shows, including were estranged, so he more fully sons with the Molotov cocktail lot better than taking (212) 729-9790 that nobody has quite put www.riverparknyc Cinderella, Big Fish and Evita, but addressed that issue in the Broad- with the tagline, “She’s going out down precious cultural ar- .com on the line yet. It’s the pic- not as a lead producer. He won a way production, which opens on with a bang.” Now it says: “Brook- tifacts, which the city has ture of how we are going to AMBIENCE: Tony for a revival of Porgy and Bess. April 21. lyn, New York: One mother. One not kept that many of. Upscale American, develop our region. “Being a lead producer feels dif- Mr. Kaye started to raise money son. 100 Molotov cocktails. You’re with an East River ferent because absolutely every de- last year, and even though he need- invited.” Did the Landmarks view How will we get a handle on cision is run by you,”said Mr.Dean. ed only $2.5 million—low by Mr. Dean said the early cam- Commission go too far under WHAT THEY ATE: that picture? “It’s absolutely constant.” Broadway standards—he knew a paign didn’t give audiences enough Mayor Michael Bloomberg? Fried chicken Eight months ago, [Sen. information—something that is I am a big believer in cul- Cheeseburger Charles] Schumer made critically important for an un- tural continuity and a and fries an announcement that he known play. “I feel like advertising sense of place. And what Bloody Mary had $20 million added into FLOCKING TO THE FOOTLIGHTS is the most important thing, be- represents a place’s identi- Two coffees the Sandy bill for the Army cause if it doesn’t work,nothing else ty, beyond a name, has a Corps of Engineers to SOME BIG NEW MUSICALS, like Disney’s PRICE: $65.33, matters,” he said. currency that is very easy including tip study the [New York coast- Aladdin, and star-driven plays, including A Mr. Kaye decided to change his to dismiss but very hard to line and the] Hudson Riv- Raisin in the Sun, are driving up attendance on own direction about 10 years ago, replace once it is gone. Let’s face it: er Valley. In there will be the scale of Broadway this spring after a flat fall. Ticket sales when he was watching a perform- We are still lamenting the loss of information that is necessary … so rose 3%, to 9.8 million people, for the entire ance of Sunday in the Park With Penn Station because it represented we can start to make decisions about season as of March 30, compared with the George, and started to get emotion- so much more than just a station. preserving infrastructure. corresponding period in the previous season, al during a song called “Move On.” according to the Broadway League, a trade “It’s a song about getting un- Because it had this currency. And what about housing? organization. stuck,” he said. “I was stuck.” Right.In the postwar era in England Resiliency measures are always eas- If the audience momentum continues, it will reverse two Mr. Kaye took his first financial … they created a host of new towns. ier when you are able to do it whole- consecutive years of falling attendance on Broadway. This spring, plunge when he invested in Rooms. The first ones were built in places not cloth, when you’re not obligated to audiences have been flocking to see big spectacles, such as the revival of He began coming to New York and already inhabited, in fields, and they consider the real,profound concerns Les Misérables, which took in 90% of its potential gross for the week ended taking courses at the Commercial ended up being the most horrible of an existing population. … One of March 30 and achieved 95% of its theater’s capacity. Theater Institute and Theater Re- new communities. They didn’t sur- the critical issues when talking Meanwhile, Aladdin, Disney’s new show about a street urchin who sources Unlimited. “I took every vive very well,and the British tried to about resiliency in New York is the finds a genie and wins the heart of a princess, was sold out and scored course they had,” said Mr. Kaye. figure out why that was. They real- idea of actually displacing people 94% of its potential gross as of March 30. In addition, Oscar winner The first Broadway show he in- ized [the towns] had no culture, they from what might be multigenera- Denzel Washington is luring people to see the revival of Raisin, which vested in was Blithe Spirit. He then had no place, no history, no land- tional homesteads.That is where the was sold out and earned 103% of its potential gross, thanks to started investing more to get on the marks and no heroes. human pain is very real, and I think premium tickets. Oscar nominee James Franco is also proving to be a production team, and began learn- we need to put that at the top of the ing the ropes and making contacts. Do you think we should reconsider some pile. I don’t think we’ve quite come draw. He stars in Of Mice and Men, which reached 93% of its potential of the landmarking that’s been done? gross and 98% of its potential attendance. “Larry is smart, and his legal to grips with it. background is a great asset,” said Of course, not all the new offerings are winning audiences’ attention. producer Nelle Nugent. “He really The Bridges of Madison County has been struggling, and Rocky hasn’t thinks things over and considers all WHO KNEW? Mr. Brown laments that the been the blockbuster many were expecting. The drama Mothers and the options.” Sons failed to wow critics, and has achieved only 30% of its gross. practice of listing a building’s architect with —THERESA AGOVINO LISTEN to a discussion at CrainsNewYork.com/podcasts a plaque on its edifice is in decline.

30 | Crain’s New York Business | April 7, 2014 OUT AND SNAPS Celebrating with Crain’s 40 Under 40 Class of 2014 ABOUT by Ali Elkin and Theresa Agovino

CULTURE FIX CAREER BUILDER THURSDAY, APRIL 10, TUESDAY, APRIL 8 THROUGH SUNDAY, The Parsons Institute for Intellectual APRIL 13 Property will host a panel discussion The AIPAD called ART + BUSINESS: NAVIGATING THE PHOTOGRAPHY SHOW, NEW LANDSCAPE. The event will focus on featuring photography and how gallery owners presentations by more and photographers can adapt to changes than 80 galleries, will be held at the Park in the art world. The session is free, but Avenue Armory, 643 Park Ave. The preregistration is encouraged. The event, hosted by the Association of discussion will be held at the New International Photography Art Dealers, School’s Theresa Lang Center, 55 W. will be open from 11 a.m. to 7 p.m. every 13th St., and will start at 6 p.m. For day except Sunday, when it will end at 6 more information or to register, visit p.m. Regular admission costs $30 per amt.parsons.edu/blog/navigating-the- Honorees CYRUS MASSOUMI and LAUREN BUSH day and $50 for a four-day pass. Student new-landscape-panel-48-6pm. LAUREN at Crain’s 40 Under 40 cocktail party on admission is $10. For more information, April 2 SALVATORE CASSANO, past 40 honoree JEH JOHNSON and DON SHACKNAI visit www.aipad.com. THURSDAY, APRIL 10 CRAIN’S HEALTH CARE CONFERENCE: THE FRIDAY, APRIL 11, MONEY CHALLENGE FOR NEW YORK THROUGH SUNDAY, APRIL 13 HOSPITALS will run from 8 a.m. until NINE SIGNS OF THE TIMES, a drama noon at the Sheraton New York Times festival, will feature new work by Tony- Square, 811 Seventh Ave. The event will winning playwright John Guare, among discuss recent New York hospital others. The event will be held at the closures and how those still open can Nuyorican Poets Café, 236 E. Third St. avoid a similar fate. It will feature a Proceeds from the festival will benefit keynote address from Adam after-school and literacy programs at the Blumenthal, founder and managing venue. Performances will start at 7 p.m. partner of Blue Wolf Capital Partners. each night. Tickets are $20 in advance Registration costs $300 for an and $25 at the door. Student tickets are individual ticket. For more information available for $12. For more information or to register for the session, visit or to buy tickets, visit www.crainsnewyork.com/events- www.nuyorican.org. calendar/details/4/2951796.

DON’T MISS FARGO, YOU BETCHA!

FRIDAY, APRIL 11 buck ennis The Paley Center for Media will present FARGO. TV. Honorees DOMINIQUE ANSEL, JESSAMYN RODRIGUEZ and JASON WANG JED BERNSTEIN and OSKAR EUSTIS YAH?, a sneak peak of the upcoming FX series based on the 1996 Coen Brothers film. Members of the cast, including Billy Bob Thornton, Martin Freeman, Colin See more of this week’s Snaps online at CrainsNewYork.com/galleries. Hanks and writer-producer Noah Hawley, will be on hand to discuss the series. Tickets are $15 for members and $25 for the general public. The Paley Center is located at 25 W. 52nd St. For more information, visit www.paleycenter.org.

OPENING FUNDRAISERS TUESDAY, APRIL 8, TUESDAY, APRIL 8 THROUGH SATURDAY, MAY 3 Room to Grow’s SPRING GALA will be held The Atlantic Gallery will present at Capitale, 130 Bowery.The organization DUALITY, an exhibition of work by Max helps struggling new parents by providing Tzinman.The counseling, support, information and baby artist works with items for their child’s first three years. The ONE FIRM, ONE VISION, ONE CULTURE. digital prints on event, which will include an auction, will canvas or from a run from 6:30 p.m. until 11 p.m. Tickets NOW ONE NAME 3-D printer, start at $350 and are available online at then adds www.roomtogrow.org. combinations of other media, WEDNESDAY, APRIL 9 including The CITY BAR JUSTICE CENTER GALA, which painting, will raise funds for legal assistance for New photography, Yorkers who cannot afford it, will honor

atlantic gallery atlantic collage and law firm Wachtell Lipton Rosen & Katz assemblage. The and financial-services company UBS with gallery is located at 548 W. 28th St. the City Bar Justice Award for their pro We possess many remarkable qualities. and is open Tuesday through Saturday bono work. The fete will be held at the However, in one word we are now simply Corgan. from noon until 6 p.m., except New York City Bar Association, 42 W. Thursday, when it is open until 9 p.m. 44th St., and will start at 6 p.m. Tickets For more information, visit start at $1,600 and are available by calling www.atlanticgallery.org. (212) 249-6188. SEE OUR NEW LOOK AT MARK YOUR CALENDAR… CORGAN.COM

TUESDAY, APRIL 22 BETWEEN THE HOURS of 11 a.m. and 2 p.m., the NEW YORK STATE PAVILION at Flushing Meadows Corona Park, Queens, will be open to visitors to mark the 1964-65 World’s Fair landmark’s 50th anniversary. Since 2009, the ARCHITECTURE New York State Pavilion Paint Project Crew has INTERIOR DESIGN been caring for the site and advocating for its refurbishment. Hard hats will be provided— marco catini and required—for guests. For more information, visit www.nyspavilion.org.

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