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INSIDE REPORT TOP STORIES Housing’s flavor of the moment; Is Fashion Week CoStar’s largest becoming passé? leases of 2011 MICHAEL GROSS, PAGE 2 ® Page 13 NYC arts groups sink their shovels into the ground VOL. XXVIII, NO. 7 WWW.CRAINSNEWYORK.COM FEBRUARY 13-19, 2012 PRICE: $3.00 PAGE 2 Javits fans say not so fast, Guv EDC’s bigger. But is Shows, hotels weigh econ agency better? fight to save center PAGE 2 from wrecking ball Howard Lutnick’s latest reinvention BY LISA FICKENSCHER PAGE 3 Ever since Gov. Andrew Cuomo announced his plan last month to Knicks star a leading tear down the Jacob K. Javits Con- vention Center to unlock its real stock Lindicator estate for new development, long- newscom IN THE MARKETS, PAGE 4 / time users of the building and oth- er groups have been trying to fig- polaris

/ ure out whether to fight the plan. They were not consulted, they say, and feel blindsided by the proposal, which matthew mcdermott calls for a much larger conven- tion center to be built at the new Aqueduct racino in Queens and a smaller facility in BUSINESS LIVES AQUEDUCT JACKPOT! Manhattan to replace Javits. For now, they are adopting a GOTHAM GIGS wait-and-see approach. OKCupid’s chief Genting strikes gold with ing time, an energetic Motown band was setting up to “We have been waiting for the cherub slings his arrows perform for the afternoon while a steady stream of char- dust to settle,” said Britton Jones, all year long ter buses delivered throngs of people from Chinatown, president of Business Journals Inc., Queens casino. Just wait downtown Brooklyn and Long Island. one of the largest users of Javits, ● ANNE FISHER Make Some city dwellers,mostly older men with canes and producing 17 annual fashion and P. 25 for that convention center meetings more fun packed lunches in plastic bags, arrived via the A train. retail-focused shows there. “There ● MOVERS & SHAKERS They boarded free shuttle buses that brought them will be meetings and discussions Interior designer builds BY LISA FICKENSCHER across a vast parking lot to the front entrance of the ra- over the next few weeks in Albany her own Haus P. 26 cino—so named because it is connected to the Aque- with the people who will be over- ● GAEL GREENE Resorts World Casino in southeastern Queens was duct racetrack.Resorts World Casino tapped into a gold seeing these projects,” he added. Starr shines at new Caffè buzzing with activity on a recent Friday—and it was mine when it opened three months ago, attracting an The timing couldn’t be worse, Storico P. 27 only 11 a.m. With another 17 hours to go before clos- See AQUEDUCT on Page 22 See JAVITS on Page 23

INDEX WALL ST. PAYMASTERS NEIGHBORHOOD JOURNAL ______7 For some on Street, pay is up At major Wall Street banks, traders THE INSIDER ______8 and investment bankers are getting SMALL BUSINESS ______9 less, but retail brokers are getting more. Consider the 2011 numbers VIEWPOINT ______10 Up big-time. Why brokers are suddenly banks’ most valued players at Morgan Stanley: FOR THE RECORD ______19 ment bankers’ bonus pool by a bru- equal to 140% of the revenue gen- SHARE OF CLASSIFIEDS ______20 BY AARON ELSTEIN tal 40%. Yet just a day earlier, the erated by brokers with large client REVENUES HOT JOBS ______25 money-losing Zurich-based giant accounts, a person familiar with the FOR 62% EXECUTIVE MOVES ______25 Last week, UBS became the latest hired several stockbrokers from matter says. Merrill Lynch started BROKER BONUSES THE WEEK AHEAD ______27 bank to slash pay when it an- Merrill Lynch, dangling upfront the year by hiking pay for some of nounced it had shrunk its invest- bonuses equal to an eye-popping its best brokers by a third. Revenues: $13 billion 180% of their previous year’s pay. Yes,these are the same firms that “I’ve been in this business for 20 are also cutting pay. Goldman years and never seen bonuses like Sachs chopped average employee SHARE OF REVENUES 42% this,” marveled Alan Reed, a vice compensation by 15% last year; FOR president at recruiting firm Morgan Stanley, Deutsche Bank BANKER ELECTRONIC EDITION Michael King Associates. “Every- and Barclays capped cash bonuses at BONUSES one is offering big bucks.” about $125,000. Merrill’s owner, Revenues: $17 billion And so they are. Morgan Stan- Bank of America, told its invest- Source: Morgan Stanley NEWSPAPER ley is offering upfront bonuses See PAY GAP on Page 24 20120213-NEWS--0002,0003-NAT-CCI-CN_-- 2/10/2012 8:10 PM Page 1

COMMENTARY The EDC at 20: b It’s looking administration, the EDC has in- City’s econ development arm has creased its spending and clout and revamped its mission, moving from like Fashion revamped its subsidies strategy developing the physical infrastruc- ture of the city toward building up its underlying economy as well. Some observers say the agency is Weak, folks BY DANIEL MASSEY setting itself apart from the ham- handed methods and crude models s it churlish to say this during Fashion Week? In December,just a year after the city issued a request to gauge univer- of counterparts elsewhere. Fashion’s imagery has gotten hopelessly bor- sities’ interest in building a tech campus, Mayor Michael Bloomberg announced Cornell University and Technion-Israel Institute of Beyond stadiums ing—and it’s a shame. “Economic development in the My interest in fashion dates back to col- Technology would build a $2 billion campus on Roosevelt Island. U.S. is about stadium-building in lege, when I was inexplicably named one of Only two months later, New York University is on the verge of many places, or stealing businesses the best-dressed members of my class, but I never inking a pact for a second tech campus. with tax abatements,” said Bruce I Behind these deals has been the city’s Economic Development Katz, director of the Metropolitan thought of writing about style until the early 1980s, Policy Program at the Brookings In- when I was lured into its fantasy realm, like many Corp.—a powerful, quasi-governmental entity not subject to many stitute.“What New York City is do- of the restrictions that city agencies face. Under the Bloomberg ing with the applied sciences is a others,by ads in fashion mag- past few years, as surely as oli- azines.I’d noticed fashion be- garchs have taken over Saint- fore that, of Tropez and St. course. I recall a Barts, models vaguely fetishis- whose Slavic tic childhood in- looks scream terest in furrier “former Soviet and lingerie ads Union” have in The New York come to own Times Magazine fashion imagery. and the excite- And now, fash- ment of seeing ion’s compass is my first British swinging farther Vogue, back in the to the East: Sev- ’70s, when it was MICHAEL eral notable de- seriously kinky. GROSS signer brands, But I credit the from the venera- now-retired ble Valentino to Calvin Klein for luring me the trend-setting Marc Ja- under fashion’s tent. In my cobs, feature Asian models in first piece of fashion writing, their current campaigns. I likened his provocative ads This isn’t a fashion con- to terrorism:I don’t care if you spiracy—even if models of like me,Calvin seemed to say, African descent are still too so long as you notice me. often MIA. It’s simple eco- Nowadays, that job’s been nomics. Fashion has grown taken by reality television. up. It’s all big-brand market- One thing I’ve noticed in ing now—chasing whoever is recent years is the increasing spending. Revenues at the inability of fashion marketers huge LVMH luxury con- MORE ROOM: to inspire rage or the awe I glomerate,Women’s Wear Dai- Tom Finkelpearl once felt upon opening fash- ly recently reported, rose last is overseeing ion mags. Maybe we’re year by only 7% in Europe and the Queens Museum numb. Nudity? 18% in the U.S., of Art’s $70 million Been there. but a whopping expansion.

Anorexia? Fashion’s 27% in Asia. No queens museum Blogged that. wonder Chanel Heroin chic? imagery did a big event in Never goin’ back has become Mumbai last year, to rehab. Models while Prada went Arts institutions in midst so young you hopelessly to Beijing and doubt they’ve boring Coach went pub- reached puberty? lic in Hong Kong Next! Once, I instead of New of major restoration period found stacks of York. glossies addictive. New money But now, I rarely even bother likes to be flashy, which ex- slew of building projects at cultural in- pansion that is doubling its size to flicking through the wife’s plains the unsubtle clothes in Crowded cultural stitutions across the city. With con- 100,000 square feet. “For us, we felt if new Vogue.To look at Tommy current ads and editorials; landscape inspires struction that includes a new visitors’ we wanted to get people to come from Hilfiger’s “variations” of they’re clearly not for the sort center at the Brooklyn Botanic Gar- a farther distance, there had to be Ralph Lauren ads first shot of accomplished American citywide expansions, den, a complete overhaul of Perfor- more to do at the museum.” by Bruce Weber in the ’80s? women whose sophistication rehabs for revenues mance Space 122’s East Village facil- Between 2003 and 2005, 94 cul- Nuh-uh, no thanks. has lately made them more ity and the 200,000-square-foot tural building projects were complet- There is one thing I find conservative. Women of sub- home for the Whitney Museum of ed in the city,according to an Alliance interesting in the latest crop of stance should be grateful that BY MIRIAM KREININ SOUCCAR American Art going up in the meat- for the Arts study on the economic fashion ads, though: a bot- for now, there’s still Giorgio packing district, among many others, impact of construction at New York’s tom-line-driven turn to bla- Armani. He may not make Last week,the Metropolitan Museum it seems that nearly every cultural or- cultural nonprofits. Now there are tant multiculturalism.Market much fashion news anymore, of Art announced plans for a $60 mil- ganization has a shovel in the ground. more than 400 design, construction segmentation used to be a but he still makes quietly chic lion renovation to turn the four-block “Every single arts institution has a and equipment projects in the works dirty secret known only to clothes. Ⅲ plaza in front of its entrance into an ur- different reason [for a building proj- at 197 nonprofit cultural organiza- those who shopped in Tokyo ban oasis with dancing fountains and ect],” said Tom Finkelpearl, director tions across the five boroughs, a and found familiar labels on to a discussion at trees from the Palais Royal in Paris. of the Queens Museum of Art, which spokeswoman for the Department of Japan-only clothes. But in the CrainsNewYork.com/podcasts The upgrade is just the latest in a is in the middle of a $70 million ex- See ARTS INSTITUTIONS on Page 23

2 | Crain’s New York Business | February 13, 2012 20120213-NEWS--0002,0003-NAT-CCI-CN_-- 2/10/2012 8:10 PM Page 2

IN BRIEF

IF A WALK-THROUGH OF THE KINGSBRIDGE : bigger, better? ARMORY CONDUCTED LAST WEEK BY THE city’s Economic Development Corp. is any indication, interest in redeveloping the very different kind of economic develop- training programs for workers and estab- the city’s exclusive economic development landmarked Bronx building is high. Eighty-five ment. It sets the platform for substantial lished venture funds to spur entrepreneurs. strategy. The Bloomberg administration people representing dozens of groups took a job growth over time and the diversifica- It has taken steps to activate the city’s wa- has turned its focus to industries where the tour of the armory on Thursday, following the tion of the economy. This is major-league terfront and waterways and embarked on city is strong but is facing challenges, and city’s decision last month to give the structure economic development.” ambitious plans to remake areas where it is weak but has competitive another chance at life.The visitors included Other cities and states entire neighborhoods in advantages. representatives from Vornado Realty Trust, are eyeing the EDC’s ac- Agency’s Coney Island, Willets Point which specializes in retail projects, and World tions, according to Mr. and along the High Line. Spending doubles Changers Church, a Georgia-based mega- Katz. “[The EDC] has the ‘quantum “There’s been a quantum The EDC, which just celebrated its church that conducts services locally at the ability to change the think- shift under this mayor,” said 20th anniversary, has nearly doubled its Manhattan Center. Proposals are due March 22. ing of the field about what shift’ hasn’t EDC President Seth Pin- annual spending on capital projects in Mr. the potential for economic sky. “We’ve turned EDC Bloomberg’s 10 years in office, to about FOUR CONTRACTORS WILL COMPETE FOR THE development is,” he said. pleased all into an agency that works $500 million, and put underutilized city- CHANCE TO BUILD A NEW $5.2 BILLION The tech campus initia- not just to get company X to owned properties to work, doubling the Tappan Zee Bridge. Among the bidders is tive continues the EDC’s locate in New York, but we city’s revenues from spaces that support Dragados, the Spanish firm that recently hired shift from being a real estate think more strategically sectors like manufacturing and distribu- former Port Authority Executive Director developer to thinking about what we can do to tion to more than $42 million. Through Christopher Ward, and Tutor Perini, the holistically about the economy. In the past make New York a better place for all com- the city’s Industrial Development Agency, contractor tapped by Related Cos. to undertake few years, the agency has created 10 incu- panies.” it has dished out more than $12 billion in the $4 billion Hudson Yards development. bators to help new businesses, launched Indeed, erecting buildings is no longer See EDC on Page 23 AS NEW YORK FASHION WEEK TRUDGES ON, SO DOES SPECULATION ABOUT THE FUTURE OF Barneys New York. Grappling with debt issues, the luxury department store confirmed last week that it has hired financial adviser Kirkland & Ellis and is in talks with lenders to improve Howard Lutnick’s next its balance sheet. Consultants in the industry are abuzz that the retailer may be forced to close stores, refinance or even declare bankruptcy. A Barneys spokeswoman downplayed the rumors, reinvention: real estate noting that it is “business as usual.” Ⅲ The Wall Streeter who BY THE NUMBERS

transformed bond biz Weekly shift of the city’s economy has plans for brokerage BLAH, BLAH, OUCH It was a remarkably quiet week even by recent standards, with market Newmark Knight Frank indices little changed until week’s end, when HOWARD’S END doubts about Greece triggered a retreat. GAME: A financial BY AARON ELSTEIN marketplace where office tenants can protect themselves $460B 8 36.3° Five years ago, as the real estate downturn against rent hikes. APPLE’S MARKET NUMBER AVG. JANUARY began to deepen, Wall Street veteran value, nearly twice of states temp. in the lower Howard Lutnick wondered how his Microsoft’s, after that require 48 states, fourth- 7.6% gain last kindergarten for warmest on traders could make money from the week 5-year-olds record emerging turmoil. “It was such a big mar- Source: ket,but we couldn’t find a way to play it that AccuWeather.com made sense for us,”Mr.Lutnick said.“Now we’ve figured it out.” COMMANDING LEAD In terms of average employee base salaries among public agencies and authorities in 2010, The Cantor Fitzgerald chief execu- the state Power Authority and bistate Port Authority tive—who successfully remade his busi- topped the list. ness after 9/11, rebuilding his shattered bond brokerage into an electronic trading NY Power Authority $87,725

queens museum powerhouse—is reinventing his operation Port Authority of NY & NJ $84,857 once again by venturing into an entirely MTA $68,317 new arena. His goal: Create a marketplace that enables office tenants to protect NYC Dept. of Transportation $59,263 themselves against rent hikes. NY state $56,729

To make that happen, Mr. Lutnick last buck ennis NYC government $49,243 year struck the biggest acquisition of his career,ponying up more than $100 million new opportunities. A decade ago, he revo- (it didn’t get off the ground), and he land- Source: Navigant Consulting to acquire commercial real estate broker- lutionized the bond business by replacing ed a gig running the sports-betting opera- ADDICTED TO NUMBERS? age Newmark Knight Frank. The move human brokers with computers. The tions for several Las Vegas casinos, a ven- GET A DAILY DOSE AT @STATSANDTHECITY thrusts Mr. Lutnick deep into the com- change, in part, was made out of tragic ne- ture Mr. Lutnick is now hoping to take mercial real estate business, of- BOND BOOM cessity because he lost nearly 700 public. CORRECTIONS fering his firm’s investment employees in the 9/11 attacks. bankers a big arena in which to “He created the first real elec- When trading desks go quiet Michael Shah is batting with the city over fraud penalties, back The casino imagery is fitting. BGC taxes and interest totaling $3.1 million that it has assessed drum up new business. But what tronic marketplace for bonds,” companies he controls. Those facts were not clear in the Feb. 6 excited him most was the chance $1.4B said Larry Tabb,CEO of consul- Partners, named for Cantor Fitzgerald REVENUES at article “Rising star stumbles.” to take the reams of data gener- tancy Tabb Group.“His firm has founder Bernie G. Cantor, serves as the fi- The landlord of 509 Third Ave. is 507 Third Owner. This fact was ated by Newmark’s 400 real es- publicly traded a real history of innovation and nancial world’s private poker tables. Its misstated in the Feb. 6 For the Record. tate brokers and combine them BGC Partners creating markets people want to brokers strike billions of dollars’ worth of with the financial insights of his last year, up from trade in.” trades every day, enabling clients—the vol. xxviii, no. 7, february 13, 2012—Crain’s New York Business (issn 8756-789x) is published weekly, except for double issues the weeks of 1,800 Wall Street analysts and $400M in 2004 Since transforming the bond world’s biggest banks—to bet on the direc- July Fourth, Labor Day and Christmas, by Crain Communications traders. “We have a combination business, Mr. Lutnick has ex- tions of bonds, currencies and derivatives Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at of expertise in real estate and fi- panded into credit derivatives without tipping their hands. New York, N.Y., and additional mailing offices. Postmaster: Send address changes to: Crain’s New York Business, Circulation Depart- nance that no one else has,” he crowed. “If and futures trading. Revenues at his pub- Now Mr.Lutnick is facing the problem ment, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber you’re a tenant or a landlord, you’re going licly traded company, BGC Partners, of what to do when the bettors stop bet- service: Call (877) 824-9379. Fax (313) 446-6777.$3.00 a copy, $99.95 one year, $179.95 two years. (GST No. 13676-0444-RT) to be interested in our information and reached $1.4 billion last year,up from $400 ting. Across Wall Street, trading desks ©Entire contents copyright 2012 by Crain Communications Inc. what we can do with it.” million in 2004. Along the way, he tried to have gone quiet, the result of a sluggish All rights reserved. Mr. Lutnick has a history of spotting create a market to bet on movie-ticket sales See LUTNICK on Page 23

February 13, 2012 | Crain’s New York Business | 3 20120213-NEWS--0004-NAT-CCI-CN_-- 2/10/2012 7:59 PM Page 1

New players are shaping IN THE MARKETS the future of Web television by Aaron Elstein

Verizon, Amazon, ing up its Amazon Prime subscrip- watch TV less, than the general tion offering for its Kindle Fire population. others jump in with users and also aims to take on Traditional television is still in NY Knicks’ breakout star may be viewing alternatives Netflix. the early stages of the digital dis- Finally, Nielsen came out with ruption that upended the music and a leading stock Lindicator, too its third-quarter 2011 Cross- newspaper industries. But media BY MATTHEW FLAMM Platform Report, which showed a companies like Viacom and pen any economics textbook and you’ll discover that telecommunications giants like the pages discussing stock markets inevitably say that For the early adopters who have Verizon are hedging their bets on been predicting the rise of Internet Traditional TV the future—finding new markets Ostock prices represent the accumulated predictions of television and the end of the pay-TV for their content, or creating new a company’s future. Which is a really eggheaded way of saying model as we know it, last week may is in the early ways to deliver that content to an investors saw basketball phenomenon Jeremy Lin coming have marked a turning point. increasingly broadband-connected months ago. After all, nothing else adequately explains the Verizon announced a joint ven- stages of digital audience. ture with DVD-kiosk giant Redbox “Companies are trying different rebound in the shares of Madison Square Garden Co. Since that will create a streaming video disruption mixes to figure out the sweet spot for service to compete with Netflix, consumers,” said Pat McDonough, mid-November, they have ral- means it faces questions from adding yet another alternative to a senior vice president at Nielsen. lied 23%, more than double the sponsors who find themselves the traditional selection of cable “There may not be a single sweet pace of the S&P 500. reaching a smaller audience in channels. spot.” It’s a bit baffling, this Manhattan than they had Viacom reached a deal with According to Nielsen’s Cross- rally, because as a busi- expected. Time Warner Amazon to bolster its streaming spike in the number of TV viewers Platform Report, the number of ness, MSG has been customers make up 30% video service with the likes of Jersey who have broadband Internet serv- homes with broadband and free, scuffling. The National of the subscribers to Shore and some 2,000 other shows. ice but no cable subscriptions—and broadcast TV—but no pay televi- Basketball Association MSG broadcasts. The Seattle e-tailing giant is build- who stream video more, and See NEW PLAYERS on Page 24 lockout deprived the “Certainly, ad- company of ticket vertisers are ask- revenue in the fall ing about it,” and, more important, MSG Media there were no New York President Mike Knicks games to show on its Bair admitted to analysts cable channel. As a result, last week. And when MSG’s revenues dropped might an agreement be 14%, to $373 million, while reached? “We can’t offer operating income fell 9%, for any assurances that it the quarter ended Dec. 31. would even happen dur- Basketball, of course, has ing the 2011-12 sea- been back since Christmas.That son,” Mr. Bair said. We congratulate our client solves one problem for MSG, Last month, Time which needs all the games and Warner Cable’s chief ex- concerts it can squeeze in to help ecutive described the pay for the $1 billion renovation of MSG logjam as “a complicat- its arena. (Knicks and New York ed situation.” Yes, indeed. Rangers fans swallowed huge increas- That’s why the sensa- es in ticket prices for this season.) But tional Mr.Lin is so impor- since then, another, bigger problem tant and maybe—just has popped up: None of the Garden maybe—the sort of games broadcast on MSG are carried breakout event some in- on the city’s biggest cable provider, vestors may have been envisioning Time Warner Cable.They are disputing when they started bidding up MSG’s how much MSG can charge Time shares late last year.If he continues re- Warner to carry its games,and the re- viving what has so far been a disap- sult has been $10 million of lost rev- pointing team,Time Warner will face enue every month for MSG, says greater customer pressure to pay on the successful financing of Gabelli & Co. analyst Brett Harriss. whatever MSG demands to carry its The impasse not only deprives games—and fatten the sports com- MSG of cable revenue, but also pany’s bottom line.

3600, 3750 and 4060 Broadway KPMG is being held to account Overtime pay disputes are real But U.S. District Judge Colleen New York, New York snoozers, except, of course, for the McMahon blasted KPMG in an opin- folks involved, but a fight between ion this month siding with the plain- KPMG and some of its grunts is prov- tiffs, saying the firm can’t ask the ing to be an exception. court to analyze how long the em- The firm’s lower-level auditors ployees worked while also seeking asked a federal judge in New York to approval to destroy the hard drives. order KPMG to provide hard drives “KPMG is hoist on its own showing how many hours they petard,” Ms. McMahon wrote, in worked on various assignments that what may be the most literary may or may not be overtime-eligible. metaphor ever seen in a lawsuit con- KPMG opposed the request. cerning overtime and accounting. Ⅲ istock, newscom THE “NEGATIVE EQUITY” IN U.S. HOUSING, according to Barclays $699BCapital. In other words, it’s the amount by which mortgages and home equity loans exceed the current market value of residential real estate. The government’s $26 Want more info on our donedeals? Scan the QR Code with your smart phone. billion settlement with five big banks last week is designed to provide homeowners facing this problem with some relief.

4 | Crain’s New York Business | February 13, 2012 CN014946 2/3/12 2:40 PM Page 1

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NEW YORK,NEW YORK edited by Valerie Block

Amanda Knox shops a memoir manda Knox, freed from an Italian prison just four months ago, may be one step Acloser to paying off her family’s massive legal bills. ¶ An auction for her memoir about her long ordeal following the murder of her roommate in 2007 started Friday, according to an industry source. Ms. Knox visited publishers several weeks ago with her agent, Washington, D.C., power lawyer Robert Barnett. ¶ She’ll tell her side of the story of her wrongful conviction in the killing, and her acquittal in October.The 24-year-old Seattle native impressed editors as being bright and articulate, which was fortunate, considering that the pitch for the book did not include a formal proposal. ¶ Mr. Barnett, who has brokered book deals for Hillary Rodham Clinton and Sarah Palin, is expected to push for a seven- figure payday. He declined to comment. ¶ Ms. Knox is not the only American who suffered abroad and is trying to sell a book.The three American hikers who were accused of spying by Iranian newscom authorities and were imprisoned in Tehran began meeting with publishers last week. ¶ The book, to be written by Shane Bauer, Josh Fattal and Sarah Shourd, will provide a portrait of friendship, love and “a prison-level glimpse into a country in upheaval,” wrote their agent, Bill Clegg of WME, in his pitch to publishers. A WME spokesman declined to comment. —matthew flamm

Museums join on we’ve ever done,” he said. “To do a fashioned, simple and real,” his show of this scale for us, we have business will “last for a very long Caribbean show to have the fundraising and staff time,” he added. resources of three institutions.” —ali elkin This summer, New York museums —miriam kreinin souccar are going tropical. In an Finding the future unprecedented collaboration, El A meatball Crain’s Museo del Barrio, the Queens of fashion First Museum of Art and The Studio obsession Look: After Javits Museum in Harlem will present a Fashion Week is in full swing at major exhibition exploring the art Move over, Meatball Shop. Daniel Lincoln Center, but Fashion Mancini is about to launch a new Join Crain’s New York Business and Christian Goode, New York State’s and history of the Caribbean. Draft NYC is aiming to groom Steven Malanga, Mark Schienberg and Robert The show, Caribbean eatery devoted to the Italian the next generation of industry Governor Andrew Crossroads of the World, will kick staple. Meatball Obsession, a leaders. When the three-day Yaro for a critical examination on whether Governor Cuomo has Cuomo’s plan to build a new convention center is off during the week of June 12 at walk-up window, will open at 510 program launches on Feb. 16, feasible, how much it would cost, who would pay and proposed building all three venues, Sixth Ave. (near West Macy’s head honcho Terry Lundgren how New York can succeed where so many other the nation’s largest and will run 13th Street) at the end and reps from design giants like cities are failing, as they struggle to deal with the convention center through the fall. It of March. Diane von Furstenberg will give 25 declining demand for conventions. at the Aqueduct will feature more At least three other lucky students the inside scoop on Racetrack/Racino than 400 rarely meatball joints have how to succeed. seen artworks opened in New York Joel Towers, executive dean at and redeveloping from masters as since 2010, but Mr. Parsons The New School for Javits to boost the diverse as Paul Mancini is no Design, which partnered with the city’s economy. Gauguin and newcomer to the craze. Economic Development Corp. to Arnaldo Roche In 2007, he quit his job create the program, said it will Christian Goode Steven Malanga Mark Schienberg Robert Yaro What do you think? Rabelle. Films and in fashion to create spawn “a first-rate talent pool.” historic artifacts MamaMancini The EDC is also working with

also will be on el museo meatballs. Sold the Fashion Institute of DATE: VENUE: PANELISTS: view. Loans are originally at Garden of Technology on a mini-M.B.A. Thursday The Essex House Christian Goode March 1, 2012 160 Central Park South Genting Americas, Senior VP still being secured from around Eden and Whole Foods in New program that debuts in June.The New York, NY 10019 Steven Malanga the world. York, they are now available in moves are part of Mayor Michael TIME: Manhattan Institute senior fellow, The joint exhibition is a way 12,000 stores. Meatball Bloomberg’s Fashion NYC 2020 Networking Breakfast: 8:00am-8:30am City Journal senior editor for the midsize museums to make Obsession’s offerings will be plan to reinvigorate the industry. Program: 8:30am-9:30am Mark Schienberg President, Greater New York a splash without breaking the prepared fresh, using the same It needs help.The number of Automobile Dealers Association bank.The three institutions recipe that Mr. Mancini learned local production jobs is shrinking COST TO ATTEND: $75 for individual ticket(s) if pre-registered by Robert Yaro jointly raised $1.2 million to cover from his grandmother. He plans faster than a wet cotton T-shirt in February 16; $80 thereafter. $750 for tables of ten(s) President, Regional Plan the costs of the show and are to open kiosks at malls a hot dryer. In the garment Association if pre-registered by February 16; $800 thereafter. publishing a joint catalog. and airports later this district, only 7,000 manufacturing Limited Space. Register Today. MODERATOR: Attendees will get a break as well: year. jobs remain, compared with Greg David 200,000 half a century ago, TO PURCHASE TICKETS: Former Crain’s editor, Director/ Admission to one museum comes “Meatballs Business Reporting Program/CUNY with a free pass to the others. are trendy according to the Go to www.crainsnewyork.com/events J School For more information, call the Tom Finkelpearl, director of the right now. I Fashion Center Events Hotline at 212-210-0739. Queens Museum, said the trio think at some Business You must be pre-registered to attend this event. No refunds permitted. have been working on this show point that could Improvement District. for more than five years. pop,” he said. But —adrianne “It’s one of the biggest shows by keeping it “old- pasquarelli

6 | Crain’s New York Business | February 13, 2012 20120213-NEWS--0007-NAT-CCI-CN_-- 2/10/2012 1:34 PM Page 1

NEIGHBORHOOD JOURNAL

FRESH IDEA: Whole Foods plans to open a store on Brooklyn’s Locals wage final Whole Foods fight Gowanus Canal.

a company spokesman said. building into 48 residential lofts. members of the community, Grocer’s long push Maybe so, but this last step can be If the board does come down Whole Foods slashed the size of its for Gowanus store surprisingly tricky.In fact,the power- against Whole Foods, the decision store by 10,000 square feet, nearly ful planning board has a rich history would be one more blow to a project halved the number of parking nears crucial vote of rejecting proposed developments that has faced a dizzying series of set- spaces to 250 from 420,and agreed

around the Gowanus Canal that it backs since the company set its sights to install a 20,000-square-foot bloomberg news has found to be out of character with on Gowanus in 2006.Contaminated greenhouse on the store’s roof to BY SHANE DIXON KAVANAUGH the surrounding neighborhood. In soil forced the chain to pay for a supply some of its produce. of the industrial neighborhood. 2004, the board axed plans for a six- pricey cleanup in 2010, just as the While the changes have won That, said Neil Carlson, co-founder fter six years of setbacks story, 64-unit building at Union and canal’s newly designated Superfund over some neighbors,others still fear of the nearby Brooklyn Creative and myriad corrections, Bond streets. That same year, it status sent scores of other interested that Whole Foods’ arrival could set League, would be a real shame. Whole Foods Market is turned thumbs down on a developer’s developers packing. a precedent for retail and residential “It would be tragic if this variance just one rubber stamp hopes of converting a manufacturing Later, in response to input by developers looking to take bites out opens the floodgates,” he said. Ⅲ away from bringing a Amega-market to the banks of Brook- lyn’s malodorous Gowanus Canal— a designated Superfund site. Unfor- tunately for the upscale grocer, a growing group of local artists, resi- dents and manufacturers is gearing up for one final food fight to torpe- do the plan. As the pricey supermarket chain seeks to clear its final hurdle at the end of this month—a variance re- quest to plop a 58,000-square-foot store in a lot zoned for 10,000 square feet of commercial space—oppo- nents are rallying. They insist the zoning change would hurt the Gowanus neighborhood’s burgeon- ing creative and manufacturing in- dustries by snatching a prime piece of real estate for retail use. “Let’s be clear. We’re not op- posed to opening a Whole Foods in Savvy investors are going places – Brooklyn,” said Jennifer Gardner, a researcher with the Gowanus Insti- namely Indonesia, Vietnam and Turkey. tute, a nonprofit that studies devel- opment issues. “But there are far better uses for this site.” You don’t have to be on the trading floor to know that the emerging Some residents and small busi- markets are changing the world economy. HSBC has global expertise and nesses would like to keep the vacant local solutions, which allow you to access opportunities in the developed, lot, nestled between Carroll Gar- emerging and soon-to-be emerging markets.1 dens and Park Slope, zoned for Does your portfolio cover these growing markets? small- and medium-scale manufac- turing—a dwindling asset they want Fund an investment account as an HSBC Premier client with a qualifying 2 to protect. A recent report by the balance by March 9, 2012 and receive an Amazon Kindle Fire. Gowanus Institute claims the site Call 866.959.8656 or visit www.hsbcpremierusa.com/diversify. could be developed to create three times the 300 retail jobs Whole Foods promises. Armed with this data, the think tank has urged locals to oppose the plan by attending public forums and writing letters to the city’s Board of Standards and Appeals, which must rule on the variance. Many have done that. Tenants from the nearby Old American Can Factory—a shared studio space for HSBC Securities (USA) Inc. designers and creative profession- 1Securities and Annuity products are provided by Registered Representatives and Insurance Agents of HSBC Securities (USA) Inc., member als—packed a hearing last month to NYSE/FINRA/SIPC, a registered Futures Commission Merchant, a wholly-owned subsidiary of HSBC Markets (USA) Inc. and an indirectly wholly- hype Gowanus’artists and small busi- owned subsidiary of HSBC Holdings plc. In California, HSBC Securities (USA) Inc., conducts insurance business as HSBC Securities Insurance nesses. Hundreds more have signed Services. License #: OE67746. Securities and Annuity Products are: Not a deposit or other obligation of the bank or any of its affiliates; Not FDIC insured or insured by any federal government agency of the United States; Not guaranteed by the bank or any of its an online petition claiming that the affiliates; and subject to investment risk, including possible loss of principal invested. arrival of the Texas-based food chain All decisions regarding the tax implications of your investment(s) should be made in connection with your independent tax advisor. would threaten the neighborhood’s International investing involves a greater degree of risk and increased volatility that is heightened when investing in emerging or frontiers markets. unique, postindustrial vibe—and Foreign securities can be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price flood the area with car traffic. volatility, political and economic instability, less publicly available information, and changes in tax or currency laws or monetary policy. 2Offer valid in the U.S. to HSBC Premier clients who fund a new or existing HSBC Securities (USA) Inc. Brokerage Account with a minimum of $100,000 Torrent of criticism in new money between January 17, 2012 and March 9, 2012. New to brokerage money is defined as funds or positions not previously held by HSBC Securities (USA) Inc. over the past six consecutive months, and must be in addition to existing investment balances as of the close of business on “We should be nurturing our January 13, 2012. Business owners may use their commercial balances to qualify for personal Premier relationship, but these balances cannot be used artists and small businesses,” said to meet the new money requirements. Offer not valid on insurance products and/or annuities. Qualified customers will be notified via mail within 90 Katia Kelly, a local blogger, “not days of meeting offer eligibility; notification will include instructions for redeeming gift. Limit one gift per customer and per brokerage account. This chipping away at them.” offer cannot be combined with any other offers or promotions, is nontransferable, good while supplies last. Promotion may be modified or withdrawn at Despite the groundswell of crit- any time without notice. Any gift not chosen by June 30, 2012 will be forfeited. The cost of the gift will be reported on IRS Form 1099. icism, Whole Foods remains confi- Kindle, Kindle Fire, Amazon, and the Amazon Kindle logo are trademarks of Amazon.com, Inc. or its affiliates. dent the Board of Standards and Kindle devices are given away on behalf of HSBC. Amazon is not a sponsor of this promotion. United States persons (including U.S. citizens and residents) are subject to U.S. taxation on their worldwide income and may be subject to tax and other Appeals will green-light the plan for filing obligations with respect to their U.S. and non-U.S. accounts — including, for example, Form TD F 90-22.1 (Report of Foreign Bank and Financial what will be the chain’s first outpost Accounts (“FBAR”)). U.S. persons should consult a tax advisor for more information. in Brooklyn. ©2012 HSBC Securities (USA) Inc. “We’ve worked closely with the city to tackle all the necessary steps,”

February 13, 2012 | Crain’s New York Business | 7 20120213-NEWS--0008-NAT-CCI-CN_-- 2/10/2012 4:35 PM Page 1

money used to pay nonprofit executives to $199,000, yet there is confusion among nonprofits as to PORT AUDIT Critics balk THE INSIDER whether CEOs could be paid from AN AUDIT CALLED THE PORT AUTHORITY of New York and New other revenue streams. (They can.) Jersey dysfunctional and warned of $3.8 billion in new by Jeremy Smerd and Shane Dixon Kavanaugh Many organizations also don’t World Trade Center costs, but the biggest increase is from know if the limit applies just to newly budgeted commercial leasing expenses the agency salaries or to total compensation. could recover. One lingering question is how The Port’s costs to complete the $14.8 billion World state agencies will coordinate their Trade Center project are expected to be $7.7 billion, up $1.7 Chris Christie new regulations. It could prove billion from a 2008 estimate. But the report said the time-consuming for nonprofits if increase “was not primarily driven by cost growth in the Cuomo’s order each agency has different original scope of the WTC program.” requirements. While some of the expenses are linked to infrastructure Additionally, the executive order cost overruns, about $1 billion is to get 1 World Trade Center flusters nonprofits requires service providers to produce and the site’s retail space prepared for tenants and leased. annual compliance reports. “What “The Port Authority might be able to lease that space and we don’t need is more administrative burdens,” an insider said. Nonprofits make money,” one former employee said. Patrick Foye he cap on executive pay at state-funded Board of Commissioners Vice Chairman Scott Rechler Andrew already submit comprehensive nonprofits issued last month by Gov. reports to their boards, the attorney said the audit will allow the agency to properly allocate resources. “I don’t Cuomo—prompted by a scandal at one general and the Internal Revenue think there’s politics involved here,” he said. organization—isn’t the only blow to service Service. But some believe the audit is an effort by Govs. Chris Christie and providers in his executive order. Nonprofit groups The order caps office costs for Andrew Cuomo to control the agency. Demonizing the Port gives them nonprofits at 15%.The insider leverage to reduce overtime and procurement costs, bring more work in- Tfear the mandate will saddle them with administrative costs grumbled, “We’re being treated like house and make employees pay something for their health care. and tarnish service providers. we’ve been feeding at the trough of “They create an aura of dysfunction so their ability to undermine the “The governor’s order was rash and political,” administrative overhead.” institution is accomplished more easily,” said a former Port insider. said one nonprofit executive. “It had no input Executive Director Patrick Foye underscored the new regime’s message in a staff memo. “The report asserts a lot of blame, but Pat has engaged whatsoever from the outside world.” Kid gloves employees, letting them know that we have the burden of making the Port Mr. Cuomo (left) launched a task force for Quinn better,” said one Port employee.

investigating nonprofit pay last summer, but acted bloomberg news, newscom, redux Last year, an NYPD spokesman on the issue without the usual sneered at critics of its stop-and- Journal, “Commissioner Kelly is are selling themselves short. What hearings, studies and frisk policy—namely Public happy to review suggestions from kind of negotiators are they?” recommendations. Even though Advocate Bill de Blasio and Speaker Quinn.” FreshDirect had considered his compensation task force is Manhattan Borough President Scott moving to New Jersey. Stringer—saying, “We’ll continue to now holding hearings, critics take our cues on crime-fighting Marty’s road rage say unresolved details of the from [Police Commissioner] Ray Brooklyn Borough President Marty Doctors gaming executive order could remain. Kelly” and not “career politicians.” Markowitz went on the warpath last the system The order directs state But when Council Speaker year when the state Department of Christine Quinn proposed reforms to Transportation, to save several The Cuomo administration is on agencies to write regulations the practice last week, a police million dollars, killed plans to the case of doctors who game the limiting the amount of state spokesman told The Wall Street examine ways to rehabilitate the system to increase their pay. Gowanus and Brooklyn-Queens Doctors treating patients in a expressways. health insurer’s network recruit In an open letter to Gov. Andrew out-of-network colleagues to help Cuomo, he called it “an insult to the because they can bill more. It is JACK RESNICK & SONS residents of Brooklyn, Staten “common practice” for is pleased to announce the following new lease Island, Queens and New Jersey.” neurosurgeons to “capture” patients Mr. Markowitz will meet with in their network, then bring in out- at state Transportation Commissioner of-network physicians to whom Joan McDonald this month. He they are “financially linked,” one 485 MADISON AVENUE wants the project studies reinstated. such doctor said. Aetna Egon Zehnder International, Inc. Insurer has filed lawsuits to curb the practice, and the state Entire 10th Floor, 14,101 sq. ft. FreshDirect deal Department of Financial Services snubs union hopes media coverage of abuses will Represented by Alan G. Schwartz & Neil B. Schwartz build support for reforms. of Glen Equities, Ltd. Last week’s announcement that the city and state would give $130 million in tax credits and grants to The so-called FreshDirect caught Teamsters middle class Local 805 President Sandy Pope off guard. She was preparing to It may be a stretch to call a demand that the company allow $300,000 earner “middle class.” In unionization drives as a condition the New York metropolitan area, for getting subsidies. that income places a household in 110 East 59th Street, New York, New York 10022 “I’m not giving up,” Ms. Pope the top 4%. But local politicians use 212.421.1300 said. “The city that expansive classification in www.resnicknyc.com and state crafting and promoting policies. Manhattan Borough President Scott Stringer’s “middle-class” tax plan gives breaks to New Yorkers earning up to $300,000. Gov. Andrew Cuomo used a similar threshold for his tax cut. And Assembly Speaker Sheldon Silver passed rent-protection bills for New Yorkers who make up to $240,000. Ⅲ

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8 | Crain’s New York Business | February 13, 2012 20120213-NEWS--0009-NAT-CCI-CN_-- 2/9/2012 3:41 PM Page 1

SMALL BUSINESS Controversy brews over sports bar

the heated opposition to the project, opposed the original West 20th as the potential for smokers to con- Hell’s Kitchen plan which he estimates will create 30 Street location. gregate near a school with a high draws ire over jobs. Ms. Medina has sent out an Boxers’ supporters have raised rate of asthmatics and an upstairs open email claiming that Boxers will the specter of homophobia among open lounge area they claim will be proximity to schools have a “pants check-in, leaving the some objectors. “They wouldn’t be visible from the schoolyard. patrons wearing only their box- opposing an Applebee’s,” Mr. Fluet Despite local objections, bars are BY STEVE WEINSTEIN ers”—a reference, according to Mr. has said. indeed moving onto 10th Avenue. BOXERS REBELLION: Owners Bob Fluet, to a long-abandoned promo- That’s nonsense, opponents One gay bar has just opened four Fluet (left) and Robert Hynds plan to persist in their quest. bid by the owners of tion at the bar’s Chelsea location. counter. “I’m gay,” said Joe Restuc- blocks south of the proposed Boxers Boxers, a popular gay Mr. Fluet has repeatedly cited cia, a Community Board 4 member. site,with another scheduled to open buck ennis Chelsea sports bar, to the vocal support of Community “No one gives a damn about anyone soon. Boxers’ defenders maintain bar or liquor-serving restaurant is open a branch in Hell’s Board 5, as well as the Chelsea po- being gay.” that, with landlord Croman Real inevitable at the West 52nd Street Kitchen has provoked lice precinct, both of which initially He and others cite concerns such Estate asking $36,000 a month, a site. Ⅲ Aone of the biggest fights over a liquor license in recent memory. Opposition centers around the proposed location, a long-vacant building on the northeast corner of West 52nd Street and 10th Avenue, bordered on two sides by the play- ground of P.S./I.S.111.After a long, The business contentious meeting in November, Community Board 4 overrode its own licensing subcommittee, which checking you want. approved a liquor license. The mat- ter now goes before the State Liquor Authority,which has scheduled a fi- nal hearing for Feb. 15. Having in- The respect you vested upwards of $100,000 already in their satellite branch, Boxers’ owners vow to fight hard till the deserve. end—as do their opponents. The owners, Robert Hynds and Bob Fluet, chose the site after being turned down by the landlord of a Avoid a monthly fee with a space on the northeast corner of West 50th Street and Ninth Avenue. low minimum daily balance. Plus, The long-delayed project has sharply get 500 FREE items per month. divided the community and exposed fears that tavern owners, having sat- TD Bank works overtime for you: urated Ninth Avenue, are setting their sights westward. “I don’t want more bars in the neighborhood,”said Kathleen Treat,who chairs the Hell’s Kitchen Neighborhood Association. Logistical challenges Others insist that the problem is the property’s unique situation. At issue is the SLA’s rule mandating that a bar can’t be within 200 feet of a school entrance. Mr. Hynds and Switch to TD Bank today! Mr. Fluet went back to the drawing Stop in, call 1-888-751-9000 or visit board last June after feedback from Community Board 4 and delayed www.tdbank.com/smallbusinesschecking the bar’s opening hours until after school lets out. To circumvent the building’s proximity to the entrance of a parochial school, Sacred Heart, ar- chitect Nick Tiarialis of NTA Design Group moved the entrance and di- vided the property in two—a non- alcohol,fast-food component serving tacos, and the bar itself, now just over 200 feet from the school’s entrance. Opponents,led by Irma Medina, principal of the school whose play- ground abuts the building, argue that the proposal violates the spirit of the law. However, Boxers attorney Don- ald Bernstein, a lawyer at midtown firm Victor & Bernstein, counters: “It’s not a gray area. It’s a very clear, objective rule.If it’s outside 200 feet, you may get a license.” Mr. Fluet expresses surprise at

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February 13, 2012 | Crain’s New York Business | 9 20120213-NEWS--0010-NAT-CCI-CN_-- 2/10/2012 1:45 PM Page 1

VIEWPOINT Time to fashion a solution editor in chief Rance Crain publisher, vp Jill R. Kaplan he most dynamic neighborhoods are 24/7 owners, who for years have sought zoning changes to unlock EDITORIAL communities with a diverse mix of places the area’s value. editor Xana Antunes managing editor Glenn Coleman for New Yorkers to live, work, eat and The Bloomberg administration wants to do such a deputy managing editors Valerie Block, socialize.They have high property values rezoning while preserving what’s left of the garment Erik Ipsen assistant managing editor Erik Engquist and generate tax revenue that supports industry and its ecosystem. It’s a tricky proposition, senior producer, projects Kira Bindrim other parts of the city, state and nation. complicated by politics: Designers, unions and landlords senior producer, news Elisabeth Butler Cordova And then there is the garment district. have conflicting agendas, and a rezoning requires the contributing editor Elaine Pofeldt Nestled among some of the most vibrant sections of the approval of City Council Speaker Christine Quinn, who columnists Greg David, Michael Gross, top business district in the nation, this square-mile piece of represents the district. Alair Townsend T pulse editor Barbara Benson midtown is a shell of its former self. In the 1950s, it was The proposed solution involves rezoning to increase senior reporters Theresa Agovino, bustling, with about 200,000 people performing every property values for landlords, who in turn would subsidize Aaron Elstein, Lisa Fickenscher, Matthew Flamm, Daniel Massey, Miriam Kreinin Souccar conceivable task of the garment trade. About 90% of that the garment industry reporters Amanda Fung, Shane Dixon Kavanaugh, activity has since departed for reasons—such as The garment with cash and space. Adrianne Pasquarelli, Jeremy Smerd globalization—that the city was powerless to stop. The Bloomberg reporter/producer Emily Laermer art director Steven Krupinski Yet the city has tried anyway. For decades, it has kept the district has administration has deputy art director Carolyn McClain garment district zoned for manufacturing, preventing failed for years to get staff photographer Buck Ennis suffered a copy desk chief Stephen Noveck property owners from legally leasing to businesses that something done, but is copy editor Thaddeus Rutkowski would pay higher rents and provide a broader array of steady decline optimistic about its research editor Dana Gordon assistant research editor Suzanne Panara services. As large-scale textile work moved away, other users latest plan: a request for research interns Callie Eidler, Helen Kwong could not take up the slack.The district suffered a slow and proposals for 500,000 editorial intern Ali Elkin

steady decline to the point where an attractive lunch spot is square feet of space for EDITORIAL AND ADVERTISING OFFICES harder to find than an ivory-billed woodpecker. the garment industry, buoyed by $3 million annually from a 711 Third Ave., New York, NY 10017-5806 Even New York’s fashion designers, who champion the new tax assessment on district properties. editorial: 212.210.0277 Fax 212.210.0799 advertising: 212.210.0711 garment district because they relish having its production City officials recognize that using restrictive zoning to Cable craincom nyk services at hand, don’t want to work there themselves. On prop up the garment industry has failed. But they should Fax 212.210.0499 Jan. 31, the Council of Fashion Designers of America revisit the notion of a perpetual subsidy for an industry with Entire contents ©copyright 2012 Crain Communications Inc. All rights reserved. announced it will follow most of its members and ditch the an uncertain future and look for tools besides just property ®CityBusiness is a registered trademark of MCP district, moving to the West Village this summer. assessments to sustain it. Inc., used under license agreement. The rationale for retaining the garment district is that it As for the stakeholders, if they don’t compromise in the TO SUBSCRIBE: supports the fashion industry—an important part of the next two months, there won’t be time to implement an For subscription information and delivery concerns, please e-mail [email protected] city’s economy and image—and provides blue-collar jobs for agreement before a new mayor takes office.The or call 877-824-9379 (in the U.S. and Canada) or tailors and dressmakers, wholesale workers and others. But administration and Ms. Quinn must bring them together 313-446-0450 (all other locations.) $3.00 a copy, $99.95 one year, $179.95 two years. the cost of this effort has been unfairly borne by the property and usher the garment district into the 21st century. www.crainsnewyork.com

ADVERTISING AND MARKETING advertising director Trish Henry senior account managers CRAIN’S ONLINE POLL Irene Bar-Am, Courtney McCombs, Sheryl Rose, Suzanne Wilson account executive Jill Bottomley Kunkes SHOULD NYC HOST A sales coordinator print & online TICKER-TAPE PARADE Danielle Wiener Juvenile behavior newsletter product manager Alexis Sinclair FOR IRAQ VETS? Todd J. Masura BROOKLYN DA EXPLAINS WHAT WORKS This program and other alternative-to- credit 313.446.6097 Date of poll: Feb. 7 director, audience development BEST FOR YOUNG OFFENDERS incarceration programs focused on young Michael O’Connor 327 votes offenders work to keep juveniles out of prison. event producer Courtney Williams We know that sending juvenile offenders Sending juvenile offenders upstate is a waste reprint sales manager Lauren Melesio to prison upstate doesn’t keep them from of money, especially when we have the skills Yes. If the senior web developer, interactive reoffending, as the vast majority are rearrested right here in Brooklyn to help young people Chris O’Donnell New York . 72% soon after they leave (“Cuomo, Bloomberg avoid criminal activity and rehabilitate their Giants get a NEW YORK PRODUCTION

parade, then team up on juvenile justice,” The Insider, lives. We just need to redirect our resources.

Jan. 25). —charles j. hynes production and pre-press director American 28%. soldiers Instead, let’s focus on what works: Kings County district attorney Michael Corsi should, too. community-based services that reflect the advertising production manager most important facets in the life of an at-risk SNOW BAWL Suzanne Fleischman Wies minor. That means immediate access to PUBLISHED BY CRAIN COMMUNICATIONS INC. No. It’s inappropriate to host a parade substance abuse and mental health treatment, Re: “Retailers pray: Let it snow” (Feb. 6). As while U.S. troops are still in Afghanistan. chairman Keith E. Crain job placement assistance and educational someone who had to climb over snowdrifts last president Rance Crain opportunities, plus housing services to help winter in an effort to get to work, only to find secretary Merrilee Crain those who come back to their neighborhood, that my local subway line was not operating, I treasurer Mary Kay Crain but can’t safely return home, find a place have little sympathy for those retailers praying executive vp, operations William Morrow to live. for an end to our unusually mild winter, which senior vp, group publisher Gloria Scoby In Kings County, our Community and Law has also greatly lowered my heating bills. May group vp, technology, circulation, Enforcement Resources Together program their prayers remain unanswered! manufacturing Robert C. Adams offers a blueprint for how to improve outcomes vice president/production & —dennis middlebrooks manufacturing David Kamis for folks returning home from prison.The chief information officer Paul Dalpiaz recidivism rate for ComALERT graduates is CRAIN’S WELCOMES SUBMISSIONS to its opinion G.D. Crain Jr. less than half of what it is for the formerly pages. Send letters to [email protected]. founder (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) For this week’s questions: Go to incarcerated population at large, meaning Send columns of 475 words or fewer to www.crainsnewyork.com/poll to have your say. hundreds of fewer prisoners in the system at a [email protected]. Please include the writer’s taxpayer savings of tens of millions of dollars. name, company, address and telephone number.

10 | Crain’s New York Business | February 13, 2012 20120213-NEWS--0011-NAT-CCI-CN_-- 2/9/2012 6:33 PM Page 1

OPINION

david). “Good luck,” the mayor is saying to his successor. “It’s not my Mayor passes problem anymore.” The mayor has gotten a pass so far because of his past fiscal recti- tude.And to his credit,he has forced budget buck agencies to pare their budgets. He claims 11 separate efforts that have slashed $6 billion from the budg- ife must be good in New York. The mayor’s pro- et—a significant achievement. UPCOMING CRAIN’S EVENTS posed budget for the fiscal year beginning July 1 He’s also betting on Gov. An- contains no major cutbacks, no significant layoffs, drew Cuomo’s help on pensions and Join Crain’s and leaders from New has decided to use his eroding clout York’s business community for a no new taxes and no proposals to restructure oper- on education reform. Having failed ations that promise a bruising fight. If only that to win reform of city workers’ pen- series of critical discussions were really true. sions before, the mayor has hitched impacting New York. L his wagon to the Cuomo jugger- Mayor Michael Bloomberg’s budget is the political equiva- naut, hoping the governor can push lent of what that British rapper did during the Super Bowl through his ambitious plan to re- Crain’s Business Breakfast duce pensions for new workers for Forum: Eric Schneiderman halftime show—directed lowed by the livery cab both the state and the city. Other Thursday, February 16; at those who are jockey- bill—unrealistic and governors abandoned the city when ing to succeed him.What unrepeatable. push came to shove on pension cuts. 8:00 — 9:30am is odd is the response to ● An unexpected If this governor does that, pity the Roosevelt Hotel the budget. Observers change in pension as- next mayor. have been way too credu- sumptions will save Mr. Bloomberg isn’t completely www.crainsnewyork.com/ lous; all the headlines fo- $425 million. giving up on his last years in office. events-schneiderman cused on the lack of pain So this budget is bal- If he follows through on his State of and conflict. The budget anced only because of the City speech, he will be taking on Crain’s First Look: hawks have been pretty almost $3 billion in a bruising battle with the teachers’ After Javits quiet, too. what are known as one- union to make the city’s schools bet- This is a classic “kick GREG shots. The result is that ter. He’s right that the teachers are Thursday, March 1; the can down the road” DAVID the city’s spending in the biggest roadblock to improving 8:00 — 9:30am budget. Consider: future years will exceed education. ● After hoarding the revenues it will col- When it comes to the budget, Jumeirah Essex House money in a reserve to pay retiree lect by more than $3 billion each Mr. Bloomberg is doing exactly www.crainsnewyork.com/ health costs for years,the mayor will year.Even the future gap is lowballed what Mayor Edward Koch did to events-javits drain the fund of its remaining $1.3 because it is based on some very op- Mayor David Dinkins, what Mr. billion. timistic projections for the city’s Dinkins did to Mayor Rudy Giu- Crain’s Health Care ● He has said he will get $1 billion economy and tax revenue (see my liani and what Mr. Giuliani did to from the sale of taxi medallions al- blog at crainsnewyork.com/greg him. What else is new? Symposium Thursday, April 19; 8:00 — 11:30am luxury housing at the shoreline and Jumeirah Essex House dedicate it to waterfront mainte- How to shore up nance. One technique used com- www.crainsnewyork.com/ monly around the country is “tax in- events-healthcare2012 crement financing,” where increased real estate tax revenue derived from Crain’s Business Breakfast city’s waterfront civic improvements such as parks is Forum: Patrick Foye captured for specific purposes. Ded- BY ROLAND LEWIS icated funds could pay for mainte- Tuesday, April 24; nance, as well as other maritime 8:00 — 9:30am needs like subsidized ferry service he last couple of years have been rough on our wa- and even for dredging. The Sheraton terfront: the collapse of a recreational pier in A reimagined harbor also re- www.crainsnewyork.com/ Staten Island, Hoboken parks and roads surren- quires new forms of management events-pfoye dering to the Hudson, a crumbling East River and administration. Right now, at least 10 agencies have jurisdiction park and esplanade in Queens, and the recently over the piers, wharves and bulk- Crain’s Arts & Culture reported $200 million price tag to restore deteriorated piers in heads that line our waterfront. Each Breakfast T of these agencies has different levels Hudson River Park. Tuesday, May 1; These may seem like harbingers of doom to waterfront parks of expertise, procedures and time- lines for maintenance. At best, this 8:30 — 10:30am in these tough economic times, but dict that climate change will spawn situation lends itself to duplication Con Edison they are in fact the growing pains of more frequent,severe and destructive and confusion; at worst, structures a revolutionized 21st-century har- storms like Hurricane Irene. fall into the water. More details to come! bor. The Bloomberg administration The costs and challenges of wa- A new city agency, the Depart- has outlined a vision for a reinvented terfront parks are certainly formida- ment of the Waterfront, could con- Crain’s Business Breakfast waterfront busy with boats,bordered ble, but the reward is great. Tens of solidate those functions and save Forum: Ben Lawsky by parks, accessible to all, and coex- thousands of new homes and vibrant money and red tape in the process. isting peacefully with an active, ex- commercial activity have risen on It would manage new parks, ferries, Wednesday, May 9; panding port. Creating a new water- both sides of the Hudson and East recreational boating, ecological res- 8:00 — 9:30am front, however, demands new forms rivers over the past decade. Hun- toration, sea-level rise and other of governance and financing from dreds of millions of dollars in real es- 21st-century waterway conditions. Hilton New York this administration and future ones. tate value have been created.The tra- We are in the initial phases of a www.crainsnewyork.com/ The recent spate of troubles at the ditional maritime industry is alive profound waterfront transformation. water’s edge should come as no sur- and well, creating important jobs The key is to protect the substantial events-blawsky prise. Shoreline infrastructure faces and lowering our carbon footprint. investments already made and em- natural hazards such as wear from The money to maintain our wa- power a governing body to leverage To learn more about Crain’s events visit: currents,wakes and tides.Decades of terfront is an investment well spent, the opportunities and tackle the chal- www.crainsnewyork.com/events-crain environmental restoration efforts but it must come from somewhere. lenges that lie before us. or call the Events Hotline 212-210-0739 have made life easy for the gribbles Here’s one logical way to obtain these The Empire State Building image ® is a registered trademark and shipworms that feast on wooden funds: Capture a small portion of the Roland Lewis is president and chief executive of the ESBC and is used with permission. piers. More ominously, experts pre- wealth being created through new of the Metropolitan Waterfront Alliance.

February 13, 2012 | Crain’s New York Business | 11 20120213-NEWS--0012-NAT-CCI-CN_-- 2/9/2012 6:32 PM Page 1

OPINION

domestic stock exchanges of 2,863 companies—an average of 260 per Rebuilding the year,or more than twice the number of new IPOs. This trend not only depresses the economy as a whole, it also crimps Wall Street’s earnings IPO market potential, serving New York City’s economy a double whammy. The trigger for this collapse was BY DAVID WEILD the SEC’s 1998 Regulation ATS IT’S ABOUT JOBS: (Alternative Trading Systems). Reg Securities reform for on’t be fooled by Facebook’s dazzling $100 bil- ATS eliminated the traditional small companies lion IPO plans: The 14-year drought for small stock-market-based system of trad- would boost the ing in mostly quarters and eighths of economy, not just Wall Street. IPOs is not about to magically disappear. Big- a dollar, clearing the way to trade in

brand companies such as Facebook have the one-cent increments.It was great for bloomberg news recognition to stoke demand for their IPOs,but high-frequency and day traders. But most companies wallow in the quagmire of anonymity. the move gutted the profit incentive port them.For the majority of entre- market structures that support cap- D required by smaller Wall Street firms preneurs since 1998, realizing value ital formation by allowing compa- Similarly,efforts in Washington,D.C., will fall short of their to invest in the stockbrokers,trading from their creation has left them nies to determine trading spreads ambition.Government is rightly concerned with rebuilding the desks and research departments that with no alternative but to sell out to (the difference between the bid and support smaller-cap stocks. larger competitors. Yet job forma- the offer) and commissions.Anyone once-great system that gave compa- bills tackle the high cost of going In 1986, there were 116 under- tion comes from stock markets that who says securities reform for small nies such as Intel and Microsoft public for smaller companies. writers on the Microsoft IPO, support small-cap companies, en- companies is just a “Wall Street issue” their first critical exposure to public But they’re failing to focus on the which raised $58 million on its first trepreneurship and corporate inde- isn’t paying attention. It’s about jobs, capital. President Barack Obama is real problem: the collapse of Wall day. Facebook’s IPO is expected to pendence—not mergers and acqui- pure and simple. championing his “Startup America” Street’s research, sales and capital fetch more than $5 billion, and the sitions. In the majority of cases, agenda, and a number of bills aimed commitment support for companies underwriting group is likely to con- M&A means layoffs. David Weild oversees capital markets at igniting small companies are after they go public. How can in- sist of only six firms, of which five It’s time to tackle the real causes research and advisory work at Grant making their way through Con- vestors become aware of small com- are the biggest names on Wall of the IPO drought and offer Wall Thornton. He is a former vice chairman gress, including the Small Compa- panies that don’t have the name Street: Morgan Stanley, JPMorgan, Street a reason to get back in the of Nasdaq and head of equity capital mar- ny Capital Formation Act of 2011 recognition of Facebook? Goldman Sachs, Merrill Lynch and business of supporting a market in kets and investment banking at Prudential (H.R. 1070) and the Reopening First, the numbers. U.S. stock Barclays. small-company stocks. Companies Securities. In addition, Mr. Weild is American Capital Markets to markets have produced an average The IPO market closes when need a seat at the table of market chairman and chief executive of Capital Emerging Growth Companies Act of only 128 IPOs per year since IPOs fall below issue price. And structure: After all, companies cre- Markets Advisory Partners, a firm of 2011 (S. 1933), sponsored by our 2000.In that same time frame,there most IPOs fall below issue price be- ate jobs. That’s why we’ve called on assisting issuers on improving IPO and own Sen. Charles Schumer. Both has been a net decrease in listings on cause Wall Street can’t afford to sup- government to create new stock- after-market success.

12 | Crain’s New York Business | February 13, 2012 20120213-NEWS--0013-NAT-CCI-CN_-- 2/9/2012 3:39 PM Page 1

REAL ESTA TE INSIDE CoStar’s top Manhattan office leases of 2011 PAGE 16 Deals Garment center mainstay signs first non-fashion tenant and other deals PAGE 18

KEEPING BUSY: Adam Weinstein of Phipps Houses, which was tapped to build affordable housing in Long Island City, Queens. Housing’s new star Drawn by ample funding, developers flood into market’s affordable sector

will be eclipsed. Financing is being BY AMANDA FUNG finalized for a new giant, the first phase of Hunter’s Point South, out In the quiet days that have followed on the Long Island City waterfront the collapse of the real estate bubble in Queens. When all phases are in 2008, a longtime industry also- completed several years from now,it ran has emerged as the belle of the will have roughly 5,000 affordable ball. Aided by strong demand for units,making it the biggest complex what they build and access to fi- to rise since Co-op City opened in nancing that other builders can only the Bronx more than 40 years ago. dream of, developers of affordable Builders of affordable housing in housing are busier than ever. the city have been able to tap a num- “In weaker markets, affordable ber of public and private funders.One housing is still an attractive of the most popular is the use long-term investment,”said INSIDE of federal low-income hous- RuthAnne Visnauskas, THREE ing tax credits. Additionally, deputy commissioner at the DEVELOPERS banks are mandated to fi- city’s Department of Hous- that are going nance such projects under ing Preservation and Devel- strong the federal Community opment. Page 14 Reinvestment Act, which It also helps that Mayor aims to channel more mon- Michael Bloomberg has made af- ey to inner-city neighborhoods. fordable housing a top priority. His “Even though credit was seizing New Housing Marketplace Plan, up,banks had to figure out what to do launched in 2003 and expanded to meet their requirements,” said three years later, seeks to create or Abby Jo Sigal, vice president and preserve 165,000 affordable- New York director at Enterprise housing units by 2014 and commits Community Partners, which raises $8.4 billion to make that happen. capital and invests in affordable- Recently, plans have advanced for a housing projects across the nation. number of major projects. They With all that going for affordable range from Via Verde, a 222-unit housing and so little going on else- mixed-income green-housing proj- where, some of the city’s largest de- ect in the South Bronx, to Gotham velopers are active in the sector.To- West, the huge complex on Man- day, the field ranges from huge hattan’s far West Side that will be companies with the bulk of their the largest of the lot, boasting 1,238 business in other market sectors to a units—600 of them affordable. host of nonprofits that have never

buck ennis Soon, however, even Gotham West done anything else. Ⅲ Yonkers finally starts to draw a crowd Two hotels, 3 apartment lem,but we’re going to move it forward,to sing “master developers” for a 13-acre parcel called its praises, to go out and tell the world about River Park Center that was billed as a gateway towers, upscale shopping the great things that are happening here,” said to the Hudson, but plans remain stalled. newly elected Mayor Mike Spano. But even downtown, some progress has center among new arrivals Topping that list of talking points is Ridge been made.The fetid Saw Mill River has been Hill, the high-end shopping center that had a dredged and reconnected to the Hudson, and BY TINA TRASTER soft opening in October. But the list also in- a master plan has been fleshed out for 1.5 miles cludes the first two hotels to go up in the city in of waterfront development. At long last, Yonkers has something to crow 40 years—a 144-room Residence Inn by Mar- Five miles due east, after a decade of effort about: A spate of recent commercial develop- riott and a 150-room Hampton Inn & Suites— and $660 million spent, the waiting is over. ments—including the just-opened West- and a $40 million renovation of Yonkers Race- The 1.3 million-square-foot Ridge Hill chester’s Ridge Hill shopping center—has way that included adding video slot-machine mixed-use outdoor shopping complex has created a positive momentum that New York’s gambling in the Empire City racino there. lured big names ranging from Whole Foods struggling fourth-largest city hasn’t enjoyed in Far less successful have been attempts to do Market and Orvis to Old Navy and REI. A years. much with long-depressed downtown Yonkers. Lord & Taylor is slated to open in April. FLOWERING PROSPECTS: The venerable Cross County “Yonkers has always had an image prob- In 2006, three prominent firms were named See YONKERS on Page 14 mall has completed a major renovation.

February 13, 2012 | Crain’s New York Business | 13 20120213-NEWS--0014-NAT-CCI-CN_-- 2/9/2012 3:36 PM Page 1

REPORT REAL ESTA TE

Hobbs Court, a 134-unit, two- building affordable-housing com- Three developers on the job plex in East Harlem. Founded by Henry Phipps, a made the switch once, L+M knew partner of Andrew Carnegie,Phipps STAYING POWER: Affordable-housing Phipps Houses John Reilly of the drill. Houses has developed nearly 6,000 Fordham Bedford sector is booming; “When the market changed dra- AFFORDABLE/OTHER REVENUE MIX affordable apartments and still owns Housing, which matically in 2008,we reacted quick- 82%/18% more than 5,100 of them, providing kept going despite these builders are ly,” said Ron Moelis, co-founder housing to 15,000 people in the the collapse of LARGEST AFFORDABLE PROJECT Lehman Brothers. in on the action and principal. Work would contin- Hunter’s Point South (planned); Bronx, Manhattan and Queens. ue on existing properties,but all new 963 units “We follow commitment to gov- buck ennis projects would be affordable. ernment policymakers,” said Mr. Today, with six projects under UNITS BEGUN SINCE 2007 Weinstein, who expects Phipps to nancial markets froze up. way—all of them 100% afford- 12 projects totaling nearly 2,000 do more preservation because such “We had weekly phone meetings able—L+M is busy. In Wallabout, units and approximately $650 work has been the Bloomberg ad- to keep everyone moving in the Brooklyn, L+M is redeveloping a million in development costs ministration’s recent push, and it re- right direction,”said John Reilly,ex- former naval prison into a 458-unit NUMBER OF UNITS PLANNED 1,900 quires less capital and subsidies. ecutive director of Fordham Bed- ADAPTABLE: mixed-income apartment building ford, who notes that JPMorgan L+M responded to be called Navy Green. Mean- IN THE 107 YEARS since Phipps Hous- Chase was involved in the latest quickly to Fordham Bedford market changes while, in Manhattan, the developer es was founded, it has built big proj- round of funding. “It was a strong, in 2008, said is hard at work on Harlem River ects, but nothing on the scale of the Housing well-underwritten project with suf- Ron Moelis. Point, a 346-unit property on Park one it will start later this year.A year ficient subsidies and partners, and

buck ennis Avenue, just north of East 131st ago, Phipps, along with the Related AFFORDABLE/OTHER REVENUE MIX we had a track record.” Street. Cos. and Monadnock Construc- 100%/0% That history extends back to Three years ago, L+M also got tion,were tapped by the city to build 1980, when the group was founded LARGEST AFFORDABLE PROJECT L+M Development the first phase of Hunter’s Point into the business of rehabilitating West Farms Square in the Bronx; to work with distressed properties in distressed affordable-housing prop- South in Long Island City,Queens. the northwest Bronx to prevent de- Partners 526 units in eight buildings erties. At the largest of those proj- After all phases are complete, that terioration and abandonment.In the AFFORDABLE/OTHER REVENUE MIX ects, the company is working with waterfront complex will be the city’s (rehab) early 1990s, it started building new 67%/33% the Harlem Congregations for largest affordable-housing project UNITS BEGUN SINCE 2007 324 housing as well. Fordham Bedford LARGEST AFFORDABLE PROJECT Community Improvement on a $75 in decades, and will cost upwards of UNITS PLANNED 200 new, 250 currently owns and manages more Harlem Congregations for million renovation of 14 buildings in $300 million. renovations than 112 properties in the borough. Community Improvement in the the Bradhurst section of the Bronx. “The site always interested me, The nonprofit is now working on Bronx; 447 units As a part of its push into rehab since it is a short distance from one IN 2010, nonprofit Fordham Bedford preserving eight buildings with 526 work, L+M has partnered with Citi of our oldest developments,” said Housing had a banner year. It com- units in the West Farms section of UNITS BEGUN SINCE 2007 5,000 Community Capital,which has cre- Adam Weinstein, chief executive of pleted its biggest project ever—a the Bronx. The Section 8 NUMBER OF UNITS PLANNED 1,790 ated a $100 million fund to help fi- Phipps Houses, referring to the three-building, $46 million com- affordable-housing complex is the nance and rehabilitate affordable 472-unit Phipps Garden Apart- plex in the Bronx called Serviam biggest rehab to date for Fordham L+M BEGAN LIFE in 1984 as a builder housing across the city. To date, its ments in Sunnyside, built in the Gardens that offers 243 units of Bedford,which,along with the Uni- of market-rate residential projects New York Affordable Housing 1930s. supportive housing for seniors. versity Neighborhood Housing in the city. It was only when the Preservation Fund has preserved The recession has failed to crimp The miracle is that it got done at Program, helped the property own- housing downturn hit late in that more than 1,300 units in 14 build- Phipps’ style. In 2009, at the height all.The final piece of financing for the er get more than $20.7 million in tax decade that the company launched ings. Now there’s talk of a second of the crisis, the nonprofit closed on project closed three months after credits to help with the work. into affordable housing. Having fund. financing for the $125 million Lehman Brothers collapsed and fi- —amanda fung

Great architecture always wins! Yonkers’ power trip Continued from Page 13 Asking rents at Cross County Architect: Kohn Pedersen Fox Associates “This is a great location,one that run from $80 to $100 per square was ‘under-retailed,’ ” said Kathryn foot, according to Robin Herko, ex- Welch, senior partner at Forest City ecutive vice president of NAI Fried- Enterprises Inc.’s Retail Group.She land Realty of Yonkers. At Ridge expects occupancy to hit 70% in Hill, which is still trying to fill its time for April’s official grand open- space, asking rents are in the lower ing. end of that range. The 81-acre site also features a 160,000-square-foot office build- Growth in a time of trouble ing where Westmed Medical Group “Before the renovation, asking recently opened an 85,000-square- prices at Cross County were $40 to foot care center. Five 12-story tow- $60 per square foot, at most,” said ers, called the Monarch at Ridge Ms. Herko. “These malls are thriv- Hill, with a total of 500 residential ing at a time when retailers are gen- condominiums, are also planned. erally hesitant to expand.” Units in the first of those buildings, Both locations are near major ar- which are owned and managed by teries, including the New York State Horizon Group,went on sale in De- Thruway and the Bronx River, cember 2010 at prices starting at Sprain Brook and Cross County $330,000 for a one-bedroom. parkways.They are also just north of Centra Metropark is one Less than three miles to the the Bronx and south of well-to-do of only two office buildings south, Westchester’s very first out- Westchester communities, includ- door mall, the 58-year-old Cross ing Bronxville and New Rochelle. 186 Wood Avenue South, Iselin, NJ in the world to win the ARCHITECTURE MAGAZINE County Shopping Center, just “The city is in a great spot, but it emerged from a much-needed $250 just needs a little extra push,” said Annual Design Review Shaping the future workplace million renovation. It added Ellen Lynch, chief executive of the Citation Award 220,000 square feet of retail space to Yonkers Industrial Development the previous 1.4 million square feet. Agency. “These recent projects are OTHER AWARDS... The center enjoys a 98% occupancy giving Yonkers energy and momen- AIA NEW JERSEY Honor Award ENGINEERING NEWS RECORD rate, according to Liz Pollack, mar- tum.” It helps that Yonkers has Best Projects Award keting director for Macerich, the something to give developers in re- mall’s developer and manager. She turn: a 20-year break on real estate David Simson, Vice Chairman/COO - NJ • T 201.460.5100 • [email protected] also noted that new upmarket stores, taxes and an incentive program in Jamie Drummond, Principal • T 201.460.5153 • C 732.245.5326 • [email protected] including A/X Armani Exchange which developers don’t pay sales tax and Swarovski Crystal, have been on construction materials and added to a mix that includes Macy’s. equipment. Ⅲ

14 | Crain’s New York Business | February 13, 2012 Project1:fp template.qxd 2/2/12 2:05 PM Page 1

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2012

Insights Today for the Risks of Tomorrow

February 29 – March 1, 2012 • Waldorf=Astoria • New York City

Don’t Be Left Out of The 2012 DISCUSSION

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REPORT REAL ESTA TE CoStar’s Top Manhattan Office Leases Biggest transactions in 2011, ranked by square feet

Address Square feet Tenant Tenant representative Landlord/sublandlord Landlord/sublandlord representative Submarket

1 30 Rockefeller Plaza1 1,417,777 Comcast/NBC Universal Jones Lang LaSalle GE Capital CBRE Plaza District

2 1 World Trade Center2 1,046,260 Condé Nast Publications CBRE The Durst Organization/Port Cushman & Wakefield Inc. & World Trade Center Authority of New York & New Jersey The Durst Organization

3 825 Eighth Ave.2 902,000 Nomura Securities International Inc. Cushman & Wakefield Inc. WWP Office LLC George Comfort & Sons Inc. Times Square

4 2/4 World Financial Center1 754,730 Bank of America/Merrill Lynch Jones Lang LaSalle Brookfield Office Properties Inc. Brookfield Office Properties Inc. World Trade Center

5 150 Greenwich St.2 601,642 City of New York Jones Lang LaSalle Silverstein Properties Inc. CBRE & Silverstein Properties World Trade Center

6 350 Fifth Ave.2 482,399 LF USA Capital Cushman & Wakefield Inc. Malkin Properties Newmark Knight Frank Penn Plaza/Garment

7 30 Rockefeller Plaza3 420,192 Lazard Cushman & Wakefield Inc. Tishman Speyer Tishman Speyer Plaza District

8 1 Park Ave.3 419,813 NYU Langone Medical Center and Cushman & Wakefield Inc. Vornado Realty Trust & Murray Hill Properties LLC & Murray Hill School of Medicine Murray Hill Properties LLC Vornado Office Management Inc.

9 120 Park Ave.2, 6 402,412 Bloomberg LP CBRE Global Holdings Inc. Cushman & Wakefield Inc. & Grand Central Jones Lang LaSalle

10 1301 Sixth Ave.1 344,158 Crédit Agricole Studley Paramount Group Inc. Paramount Group Inc. Columbus Circle

11 3 Columbus Circle2 340,432 Young & Rubicam CBRE SL Green Realty Corp. & Newmark Knight Frank Columbus Circle The Moinian Group

12 330 W. 34th St.1 302,405 City of New York Dept. of Cushman & Wakefield Inc. Vornado Realty Trust Vornado Office Management Inc. Penn Plaza/Garment Human Resources

13 150 E. 42nd St.2 298,128 Wells Fargo Eastdil Secured LLC Hiro Real Estate Co. CBRE & Newmark Knight Frank Grand Central

14 770 Broadway3 295,018 J.Crew Group Inc. Studley Vornado Realty Trust Grubb & Ellis Greenwich Village

15 330 Hudson St.2 271,998 Pearson plc Richard Berzine & Co. Ltd. Beacon Capital Partners LLC Direct Deal Hudson Square

16 85 Broad St.2 269,105 Oppenheimer & Co. Inc. Cushman & Wakefield Inc. MetLife Inc. Jones Lang LaSalle Financial District

17 1221 Sixth Ave.2 250,000 Comcast/NBC Universal Jones Lang LaSalle Rockefeller Group Development Rockefeller Group Development Times Square Corp. Corp.

18 2 World Financial Center1 235,342 OppenheimerFunds Inc. Cushman & Wakefield Inc. Brookfield Office Properties Inc. Brookfield Office Properties Inc. World Trade Center

19 7 World Trade Center2 210,841 WilmerHale Studley Silverstein Properties Inc. CBRE World Trade Center

20 1 Penn Plaza3 207,203 Parsons Brinckerhoff Colliers International Vornado Realty Trust Vornado Office Management Inc. Penn Plaza/Garment

21 1 World Financial Center4 204,067 Financial Industry Regulatory Authority Cushman & Wakefield Inc. Brookfield Office Properties Inc. CBRE World Trade Center (FINRA)

22 101 Park Ave.1 198,918 Morgan Lewis Jones Lang LaSalle HJ Kalikow & Co. LLC Cushman & Wakefield Inc. Grand Central

23 250 W. 55th St.2 193,816 Morrison Foerster CBRE Boston Properties Inc. CBRE Columbus Circle

24 350 Fifth Ave.3 193,304 COTY Inc. Cassidy Turley Malkin Properties Newmark Knight Frank Penn Plaza/Garment

25 330 Madison Ave.2 186,151 Guggenheim Partners LLC Jones Lang LaSalle Vornado Realty Trust Jones Lang LaSalle Grand Central

26 2 World Financial Center1 175,737 Commerzbank AG Cushman & Wakefield Inc. Brookfield Office Properties Inc. Brookfield Office Properties Inc. World Trade Center

27 235 E. 45th St.1 163,396 A&E CBRE Hearst Corp. Newmark Knight Frank Grand Central

28 224 W. 57th St.2 163,310 Open Society Institute CBRE & Hanley Advisors LLC M1 Real Estate Colliers International Columbus Circle

29 919 Third Ave.1 156,906 Bloomingdale’s CBRE SL Green Realty Corp. SL Green Realty Corp. Plaza District

30 1221 Sixth Ave.1 155,250 Sirius XM Radio Inc. Studley Rockefeller Group Development Rockefeller Group Development Times Square Corp. Corp.

31 75 Ninth Ave.3 154,489 Scripps Networks LLC Cushman & Wakefield Inc. Jamestown Newmark Knight Frank Chelsea

32 1 Hudson Sq.2 146,544 Omnicom Group Inc. Feld Real Estate LLC Trinity Church Real Estate Cushman & Wakefield Hudson Square

33 345 Hudson St.1 144,999 Penguin Young Readers Group Richard Berzine & Co. Ltd. Trinity Church Real Estate Trinity Real Estate Hudson Square

34 227 E. 45th St.2 138,517 A&E CBRE Republic Investment Corp. Republic Investment Corp. Grand Central

35 9 W. 57th St.1 128,400 Kohlberg Kravis Roberts & Co. LP Jones Lang LaSalle Solow Building Co. LLC Solow Realty & Development Co. Plaza District

36 150 E. 42nd St.3 126,321 Wilson Elser Moskowitz Edelman & Studley Hiro Real Estate Co. CBRE & Newmark Knight Frank Grand Central Dicker LLP

37 22 Cortlandt St.1 126,000 Municipal Credit Union Newmark Knight Frank Mayore Estates LLC Grubb & Ellis World Trade Center

38 7 World Trade Center2 125,811 MSCI Inc. Cushman & Wakefield Inc. Silverstein Properties Inc. CBRE World Trade Center

39 1290 Sixth Ave.2 121,477 ColumbiaDoctors Newmark Knight Frank Vornado Realty Trust Cushman & Wakefield Inc. Plaza District

40 440 Ninth Ave.1 121,475 B&H Foto & Electronics Corp. Studley Paramount Group Inc. Paramount Group, Inc Penn Plaza/Garment

41 1211 Sixth Ave.2 121,019 AXIS Re U.S. Weichert Commercial Brokerage Beacon Capital Partners LLC Cushman & Wakefield Inc. Times Square Inc./George Comfort & Sons Inc.

42 630 Fifth Ave.3 118,634 Baker and Hostetler LLP CBRE Tishman Speyer Tishman Speyer Plaza District

Continued on page 18

16 | Crain’s New York Business | February 13, 2012 CN014950 2/8/12 1:52 PM Page 1 20120213-NEWS--0018-NAT-CCI-CN_-- 2/9/2012 3:38 PM Page 1

REPORT REAL ESTA TE

Address Square feet Tenant Tenant representative Landlord/sublandlord Landlord/sublandlord representative Submarket

43 1133 Sixth Ave.1 115,228 Ace Insurance Jones Lang LaSalle The Durst Organization The Durst Organization Times Square

44 555 W. 57th St.1 112,941 Continuum Health Cushman & Wakefield Inc. SL Green Realty Corp. SL Green Realty Corp. Columbus Circle (Beth Israel Medical Center)

45 3 World Financial Center5 112,596 Royal Bank of Canada Direct Deal Brookfield Office Properties Inc. Brookfield Office Properties Inc. World Trade Center

46 875 Third Ave.2 109,573 Cerberus Capital Management LP CBRE Eastgate Realty Cushman & Wakefield Inc. & Plaza District Jones Lang LaSalle

47 452 Fifth Ave.2 105,803 Baker & McKenzie Studley PBC USA Real Estate LLC CBRE Penn Plaza/Garment

48 1441 Broadway3 104,004 Jones New York CBRE LH Charney & Associates LH Charney & Associates Penn Plaza/Garment

49 1 State St. Plaza1 103,484 Ambac Financial Group Inc. Newmark Knight Frank ACTA Realty ACTA Realty Financial District

50 600 Madison Ave.2 103,457 Alvarez & Marsal Cassidy Turley/Studley Lawrence Ruben Co. Inc. Studley Plaza District

This list includes leases with terms of more than two years. 1-Renewal. 2-New lease. 3-Renewal and expansion. 4-Sublease. 5-Expansion. 6-Two brokers involved in this transaction are now with Jones Lang LaSalle. CoStar Group Inc., a provider of information services to the U.S. and U.K. commercial real estate industries, offers customers access via the Internet to the most comprehensive verified database of commercial real estate information in the United States and the United Kingdom. For more information, visit www.costar.com or call (877) 7-COSTAR.

Deals Plus Fred Posniak,senior vice president at MIDTOWN OUTPACING DOWNTOWN W&H Properties, which owns the building. He also noted that he Change in Manhattan office property values doesn’t expect it to be the last, which We’re No. 1: NY is is why W&H has embarked on a ma- jor renovation and is consolidating tenants to create more full-floor spaces for an expected influx of office tops in commercial tenants, particularly media, advertis- ing and technology companies look- ing for alternatives to the vacancy- sales growth short Flatiron district. “There’s not a lot of space on Park Avenue South,” Mr. Posniak ales of commercial real estate in New York City said. “This is the next frontier.” climbed more than in any other major city in the world —ali elkin last year, soaring 75% to $19.2 billion, according to a Snew report from Jones Lang LaSalle. Caffeine kingpin The city also ranked second only to London as global brews fresh lease investors’ preferred place to buy property. Investors snapped up Source: Green Street Advisors West Villagers looking for another $24.3 billion worth of real estate in London last year,up 15% from spot to satisfy their coffee and tea warehouse and distribution center 2010,putting the British capital in the top slot for the second year cravings are in luck. Huge Southern Sequin stitches in across the street from its office. in a row. California-based chain The Coffee more space The landlord of 234 W. 39th St., New York, meanwhile, jumped from its fourth-place finish Bean & Tea Leaf just signed a 12- Derfner Management, was repre- year lease for its fourth Manhattan Sequin is more than doubling its sented in-house by Jay Lieberman. in 2010, boosted by investors craving the stability and safety of location, this one at 189 Bleecker St., space in the garment district. —amanda fung the U.S. market, according to Steve Collins, international at MacDougal Street. The costume-jewelry designer director of JLL’s International Capital Group. He noted that The asking rent for the 1,100- has renewed the lease on its top- square-foot storefront with a 1,000- floor space and signed a new one for Bike shop sinks its despite London’s dominance, in- billion in investment, up 24% from square-foot basement was $240 a the fifth floor at 234 W. 39th St., be- roots in Brooklyn vestors were shying away from Eu- 2010. Los Angeles rounded out the square foot. tween Seventh and Eighth avenues, ropean assets because of the debt top 10 cities internationally,and the Just last month, the company bringing its total there to 17,000 A new store called Bicycle Roots crisis. Britain is not a member of the top three U.S. cities, with $6.8 bil- opened an Upper West Side loca- square feet. Previously, Sequin used will pedal into Bedford-Stuyvesant, single-currency eurozone. lion in investment, an increase of tion on Columbus Avenue. Last the 8,500-square-foot top floor of Brooklyn, this spring. Bicycle me- “New York is still the capital of 49%. year, The Coffee Bean & Tea Leaf the 10-story building for both office chanic Nechama Levy has leased the world,” said Mr. Collins. He In terms of the growth of invest- opened on Amsterdam Avenue and and showroom space. The asking 5,800 square feet in a new building added that investors from all over ment last year, second place went to in Times Square as well. This is its rent on the five-year lease was $32 at 1078 Fulton St., near Bedford Av- the globe are drawn to the strong Shanghai, where purchases ad- first downtown venture. per square foot. enue. The asking rent was $26 per and reliable legal system in the U.S. vanced 71%, to a total of $7.2 bil- “They’re actively growing “The firm has grown substan- square foot. But they choose New York first because lion. It ranked No. 9 on the list. throughout New York,” said Ben- tially since it moved in about 10 Bicycle Roots is scheduled to it’s a gateway city with rising rents that’s The other cities in the top 10 jamin Birnbaum, the Newmark years ago,” said Michael Heaner, a open on the ground floor and base- home to many industries. “It’s the first were Paris,Tokyo, Singapore, Hong Knight Frank broker who, along broker at the Kaufman Organiza- ment on April 1. place in the U.S. investors want to Kong and Seoul. with colleague Jeffrey Roseman, tion who represented the tenant, Charles Goldberg and Hank be,” said Mr. Collins. “They don’t Overall,investment in commer- represented the tenant. He noted adding that the company’s current Widmaier of Colliers International say Chicago or Miami.” cial real estate around the world that the company, which has more lease was set to expire and its leaders represented Bicycle Roots, while Washington, D.C., ranked sev- jumped 28% last year, to $410.6 than 800 locations around the considered moving to a new loca- Jonah Ramu Cohen of Ideal Prop- enth on last year’s global list—and billion. world, is also looking in midtown tion.“At the last minute,they decid- erties Group Inc.represented build- second among U.S. cities—with $8 —theresa agovino east for a fifth location. ed it was better to stay because it’s a ing owner Fulton Housing. The Bleecker Street spot should lucky space for them.” Mr. Goldberg noted that the open for business this summer. It Sequin took no chances with its store is right on a bike path that will bring some competition for luck. Before it moved into its loca- leads from Brooklyn to Manhattan. The 930,000-square-foot, 38- DavidsTea, which tion, in the wake of “It’s an important location for Landlord steps story tower stands in the heart of the leased space nearby the bankruptcy of someone in the bike business,” he away from fashion garment district on Broadway and at 275 Bleecker St. the former tenant of said.He also noted that the area is in West 38th Street. Tenants include in August. the space, the jewel- the process of “being revitalized,” A big building in the garment district such big names as Burlington,Kohl’s William ry designer brought which he attributes in part to the is getting its first nonfashion, no- and Men’s Wearhouse. Millburn, Abramson and Dan in a kabbalah rabbi construction nearby of Barclays showroom tenant. Engineering con- N.J.-based Hatch Mott MacDon- Satterwhite of to cleanse and bless Center, the new home for the Nets sulting firm Hatch Mott MacDon- ald, which has 67 offices across the Buchbinder & the area, Mr. Hean- basketball team, which is scheduled ald has signed a lease for 10 years and nation, will use its space for offices. Warren Realty er said. Since then, to open in the fall. 10 months for the entire 30th floor at Its new neighbors use a signifi- Group represented Sequin has been on a “Other developers and investors 1400 Broadway. The asking rent for cant amount of their space for offices landlord Celestial tear in the neighbor- feel confident with that anchor,” he the 15,100-square-foot space was but not all of it—they reserve some Seven. hood. Just two years said.“They too can invest with a rea- $49 per square foot. The company for showrooms. This was the build- —adrianne ago, it opened a sonable expectation of success.” 189 Bleecker St. will be moving up from 3 Park Ave. ing’s first “100% office” lease, said pasquarelli 12,600-square-foot —ali elkin

18 | Crain’s New York Business | February 13, 2012 20120213-NEWS--0019-NAT-CCI-CN_-- 2/9/2012 3:36 PM Page 1

FOR THE RECORD

may be purchased at 51 Chambers St., The tenant was represented by Square shares of common stock at $37.36 on Manhattan. The last day for questions is Foot Realty’s Sam Zagoren. The Jan. 25, in a transaction worth $934,000. ABOUT THIS SECTION Feb. 22 at 2 p.m. To make inquiries, landlord, Farmore Realty Inc., was On the same day, he sold 25,000 shares contact Stephen Parker at (646) 885- represented by Square Foot Realty’s of common stock at $187.64, in a FOR THE RECORD is a weekly listing of information from the public record that 4907 or [email protected]. Howard Aaron and Aaron Gavois. The transaction worth $4,692,769. He now can help businesspeople in the New York area find opportunities, potential asking rent was $500 per square foot. directly holds 182,055 shares. new clients and updates on competitors. ● Department of Sanitation To ask questions or get more information on this section, contact Suzanne Seeks competitive sealed bids by 11 a.m. Laurence D. Fink, chairman and chief Panara at [email protected]. on March 6 for Brooklyn Navy Yard soil STOCK TRANSACTIONS executive, exercised options on 12,618 remediation.There is an $80 refundable shares of common stock at $37.36 deposit for the documents. Only postal Following are recent insider transactions at between Jan. 27 and Jan. 30, in a money orders accepted.The money order New York’s largest publicly held companies transaction worth $471,408. During the should be made out to the City of New filed with the Securities and Exchange same time period, he sold 12,618 shares BANKRUPTCIES visit www.nyc.gov/cityrecord. Listings are York Comptroller’s Office.The Commission by executives and major of common stock at prices ranging from alphabetical by category and department. department will hold a prebid conference shareholders. Listings are in order of $186 to $189.03, in a transaction worth The following listings are selected from the on Feb. 21 at 1 p.m. on-site at 570 Kent transaction value.The information was $2,371,684. He now directly holds most recent available filings by companies CONSTRUCTION SERVICES Ave., Brooklyn.To make inquiries, obtained from Thomson Reuters. 1,385,860 shares. seeking bankruptcy protection in the ● Department of Parks and Recreation contact Reina Beza at (646) 885-4530. Southern and Eastern Districts of New Seeks competitive sealed bids by 10:30 ● Time Warner Cable (TWC) ● MasterCard (MA) York. Information was obtained from U.S. a.m. on March 6 for the reconstruction ● Department of Transportation Robert D. Marcus, president and chief MasterCard Foundation sold 21,090 Bankruptcy Court records available on of play equipment, safety surfacing and Seeks competitive sealed bids by 11 a.m. operating officer, exercised options on shares of common stock at prices Public Access to Court Electronic Records. general site work at various locations in on March 6 for transportation and 71,706 shares of common stock at prices ranging from $341.65 to $351.01 Listings are in alphabetical order. Manhattan. Bid documents are available disposal services for construction waste ranging from $35.60 to $47.95 on Jan. between Jan. 25 and Jan. 27, in a for a fee of $25 in the blueprint room, material generated by the citywide 27, in a transaction worth $2,899,361. transaction worth $7,316,768. It now ● Milbank 770 Garden Olmsted Center, Queens, from 8 a.m. to concrete program. A deposit of $50 is On the same day, he sold 71,706 shares directly holds 12,861,600 shares. 721 Fifth Ave., Manhattan 3 p.m. The fee is payable by company required for the contract in the form of a of common stock at prices ranging from Filed for Chapter 11 bankruptcy check or money order to the City of certified check or money order payable $74.16 to $74.31, in a transaction worth ● Coach Inc. (COH) protection on Jan. 23. The filing cites New York, Parks and Recreation. to New York City Department of $5,321,952. He now directly holds Irene R. Miller, lead outside director, estimated liabilities of $1,000,001 to Contact Juan Alban at (718) 760-6771 Transportation. Documents may be 18,175 shares. exercised options on 40,000 shares of $10 million and estimated assets of $0 to or [email protected]. picked up at 55 Water St., Manhattan. common stock at $18.18 on Jan. 27, in a $50,000. The creditor with an unsecured To make inquiries, contact Keith Marc J. Lawrence-Apfelbaum, executive transaction worth $727,300. On the claim is DMARC 2007-CD5 Garden ● Department of Parks and Recreation Howard at (646) 879-3489. vice president, general counsel and same day, she sold 29,353 shares of St., owed $7,100,000. Seeks competitive sealed bids by 10:30 secretary, exercised options on 21,230 common stock at $68.40, in a a.m. on March 8 for reconstruction of shares of common stock at $35.60 on transaction worth $2,007,745. She now ● Paul Anthony’s Ristorante boilers and heating systems at various REAL ESTATE DEALS Jan. 26, in a transaction worth $755,788. directly holds 15,136 shares. 159 Sunrise Highway, Lynbrook, L.I. Department of Parks and Recreation On the same day, he sold 21,230 shares Filed for Chapter 11 bankruptcy facilities in Brooklyn. Bid documents are Companies that would like to have details of common stock at $72, in a transaction Michael E. Murphy, director, exercised protection on Jan. 27. The filing cites available for a fee of $100 in the of their recent transactions appear in these worth $1,528,560. He now directly options on 29,000 shares of common estimated liabilities of $0 to $50,000 and blueprint room, Olmsted Center, listings should email descriptions following holds 3,744 shares. stock at prices ranging from $32.02 to estimated assets of $0 to $50,000. Queens, from 8 a.m. to 3 p.m.The fee is this format to ELaermer@crainsnewyork $32.57 on Jan. 27, in a transaction worth payable by company check or money .com, with “Real estate transaction” in the ● BlackRock Inc. (BLK) $936,830. On the same day, he sold ● Rich-Nich Realty order to the City of New York, Parks and subject line, or enter them online at Kushel J. Richards, senior managing 15,358 shares of common stock at $68.73, 1877 E. Ninth St., Brooklyn Recreation. Contact Juan Alban at (718) crainsnewyork.com/submitadeal. Deals are director and head of international in a transaction worth $1,055,555. He Filed for Chapter 11 bankruptcy 760-6771 or juan.alban@parks. nyc.gov. listed in order of square footage. business, exercised options on 25,000 now directly holds 78,774 shares. Ⅲ protection on Jan. 27. The filing cites estimated liabilities of $10,000,001 to ● Department of Transportation COMMERCIAL $50 million and estimated assets of $0 to Requests proposals by 2 p.m. on Feb. 27 ● TBWA Worldwide renewed its lease $50,000. Among the creditors with the for total design and construction support for 10 years for 107,300 square feet at DEALS ROUNDUP largest unsecured claims are Bank of services for component rehabilitation of 488 Madison Ave. The Omnicom Group New York, owed $14,946,583.70; Goods 10 bridges citywide. A deposit of $50 is subsidiary will occupy space on floors TRANSACTION SIZE & Quality Construction Management, required for the proposal in the form of a four through seven. Feld Real Estate’s SELLER/TARGET (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE owed $325,000; and CPC Carpentry, certified check or money order payable Lee Feld represented the tenant. The owed $141,595. to New York City Department of landlord, The Feil Organization, was GAMCO Investors Inc., $4,310.9 ABB Low Voltage SB M&A The Vanguard Group Inc., Products & Systems Transportation. The proposal can be represented in-house by Brian Feil and Cramer Rosenthal ● Run for Your Life purchased at 55 Water St., Manhattan. David Turino. The asking rent was not McGlynn (Manhattan), 7924 Third Ave., Brooklyn To make inquiries, contact Paul- disclosed. American Century Filed for Chapter 7 bankruptcy Michael Kazas at (212) 839-6314. Investment Services protection on Jan. 24. The filing cites ● Memorial Sloan-Kettering Cancer Inc., Royce & Associates, estimated liabilities of $100,001 to ● Housing Preservation and Development Center signed a lease for 43,000 square (Manhattan), BlackRock $500,000 and estimated assets of $0 to Seeks competitive sealed bids by 11 a.m. feet at 405 Lexington Ave., the Chrysler Institutional Trust Co. N.A., Sasco Capital Inc., $50,000. Among the creditors with the on Feb. 27 for installation and repair of Building. The hospital will occupy the The Boston Co. Asset largest unsecured claims are Corporate sidewalk sheds citywide. A nonrefund- entire third floor. Newmark Knight Management, PRIMECAP Turnaround, owed $32,831.36; Citicorp, able document cost of $25 in the form of Frank’s Mark Weiss represented the Management Co., GAMCO owed $21,073.23; and American money order, teller’s check or certified tenant, while the landlord, Tishman Asset Investment Express, owed $17,264.65. bank check is required at the time of Speyer Properties, was represented in- Management/Thomas & pickup. Sale hours are 9 a.m. to noon and house. The asking rent was $65 per Betts Corp. ● Sagamore Ventures 2 p.m. to 4 p.m. Monday through Friday square foot. The Carlyle Group, $1,257.3 SandRidge Energy Inc. SB M&A 201 Old Country Road, Melville, L.I. at 100 Gold St., Manhattan.To make Riverstone Holdings Filed for Chapter 11 bankruptcy inquiries, contact Brian Saunders at (212) ● DeVry College of New York signed a (Manhattan)/Dynamic protection on Jan. 24. The filing cites 863-7723 or [email protected]. 10-year expansion and extension lease Offshore Resources estimated liabilities of $500,001 to for 6,000 square feet, bringing its total Orkla ASA, QVT Financial $663.7 Oslo Bolig Og Sparelag SB M&A $1 million and estimated assets of ● School Construction Authority space to 19,400 square feet at 120 W. (Manhattan), Canica AS/ (Additional 59.59%) Fornebu Utvikling ASA $1,000,001 to $10 million. Seeks competitive sealed bids by 11 a.m. 45th St. The college will now occupy the on Feb. 21 for roof, parapets and exterior entire sixth floor. Newmark Knight Avista Capital Holdings $372.0 AngioDynamics Inc. SB M&A ● Van Cortlandt Village masonry at P.S. 242 in Manhattan.To Frank’s Erica Rubenstein represented (Manhattan)/Navilyst Medical Inc. 2273 65th St., Brooklyn make inquiries, contact Kevantae Idlett at the tenant. Jones Lang LaSalle’s Diana Filed for Chapter 11 bankruptcy (718) 472-8360 or [email protected]. Biasotti, Frank Doyle, Paul Glickman, Edison Venture Fund, $159.7 ShoreTel Inc. SB M&A protection on Jan. 31. The filing cites David Kleiner and Jonathan Tootell Milestone Venture Partners (Manhattan), estimated liabilities of $10,000,001 to GOODS AND SERVICES represented the landlord, SL Green Escalate Capital Partners, ● $50 million and estimated assets of Department of Environmental Protection Realty Corp. The asking rent was Greycroft Partners $1,000,001 to $10 million. Among the Seeks competitive sealed bids by 11:30 between $50 and $70 per square foot. (Manhattan)/ creditors with the largest unsecured a.m. on Feb. 23 for the supplying of M5 Networks Inc. claims are County Oil Co., owed cationic polymer for sludge thickening ● AvVenta signed a three-year sublease Not disclosed/ $87.1 Clarion Partners Americas SB M&A $548,503.33; Alba Fuel Corp., owed at various locations citywide. The bid for 9,700 square feet at 155 Sixth Ave. Pair of Back Bay (Manhattan) $97,542.36; and Castle Oil Corp., owed document fee is $80 and can be The digital ad agency will occupy space office buildings $94,475.06. purchased at 59-17 Junction Blvd., on the second floor. Cushman & Not disclosed/ $80.0 Centerbridge Partners GCI Queens. For technical questions, contact Wakefield Inc.’s Alex Cohen and David Aquilex Holdings (Manhattan) Avinash Pawar at (718) 595-6811. Tricarico represented the tenant, while Charter Oak Private, $80.0 Regal Beloit Corp. SB M&A GOVERNMENT CONTRACT Legacy Real Estate’s Ken Fishel High Road Capital OPPORTUNITIES ● Department of Sanitation represented the sublandlord, Arup. The Partners (Manhattan)/ Seeks competitive sealed bids by 11 a.m. asking rent was $42 per square foot. Milwaukee Gear Co. Following are selected contract on Feb. 28 for scrap tire removal Selected deals announced for the week ended Feb. 5 involving companies in metro New York. opportunities recently announced by New services. There is a refundable $80 RETAIL M&A represents a minority or majority acquisition of existing shares of a company with the York City agencies.To learn how to sell deposit for the documents. Only postal ● Fragrances & More signed a lease for participation of a financial buyer. GCI: Growth capital investment represents new money money orders will be accepted, made 1,700 square feet at 732 Seventh Ave. invested in a company for a minority stake. SB M&A: Strategic buyer M&A represents a goods and services to city government, visit minority or majority acquisition of existing shares of a company without the participation of a www.nyc.gov/selltonyc. For a searchable payable to City of New York The firm will occupy space on the financial buyer. source: capitaliq database of current procurement notices, Comptroller’s Office. The documents ground floor, mezzanine and basement.

February 13, 2012 | Crain’s New York Business | 19 nb07p20-22cl.qxp 2/10/12 3:24 PM Page 20

EXECUTIVE RECRUITER PUBLIC & LEGAL NOTICES

POSITIONS AVAILABLE REQUEST FOR INFORMATION Notice of Qualification of GARRISON Application Support Analyst Programmer/Analyst SECURITIES LLC. Authority filed with Secy. of State of NY (SSNY) on (AllianceBernstein L.P. – New York, NY) (AllianceBernstein L.P. - New York, NY) THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY 01/06/12. Office location: NY County. Dvlp & implement adv & highly complex Analyze end-user req’s & serve as the LLC formed in Delaware (DE) on finan tools & tech systems used to central point of contact for all Equity REQUEST FOR INFORMATION (RFI) 09/20/11. Princ. office of LLC: Tech sys rel issues & escalations in the capture, review, & override mrkt data. FOR REAL ESTATE LEASE ADMINISTRATION Garrison Investment Group, 1350 NY region. Reqs a Bach deg (or foreign Req’s a Bach’s deg (or foreign equiv) in Ave. of the Americas, 9th Fl., NY, NY equiv) in Comp Sci, Enginr’g, or rel tech Business Sci, Comp Sci or rel field & 4 AND DATABASE SYSTEMS 10019. SSNY designated as agent of field & 5 yrs exp provd’g app sys support yrs exp prov info tech acct mgmt srvcs. The Port Authority is seeking to identify firms interested in submitting information LLC upon whom process against it & analysis. Must have exp in each of the Must have exp in each of the follow’g: concerning the provision, implementation, management and maintenance of a may be served. SSNY shall mail follow’g: trblshoot’g complex tech & mentor’g & train’g jr analysts; mng’g commercially off-the-shelf, browser-based Real Estate Lease Administration and process to c/o Corportion Service tech projs & accts from initiation to finan trad’g apps systems; certify’g & Database System that could serve as a readily-accessible, centralized data source Co., 80 State St., Albany, NY completion & maintenance; util data trblshoot’g FIX-related connections; for all real properties, leases, and permits of the Authority.” 12207-2543. DE addr. of LLC: 2711 mgmt vendors in support of proj wrk’g knwldg of securities industry sys & Centerville Rd., Ste. 400, Wilmington, deliverables; Microsoft or Sybase SQL The RFI and its associated documents can be downloaded directly at DE 19808. Arts. of Org. filed with terminology; util SQL & Relational server skills; progrm’g in HTML, CSS http://www.panynj.gov/business-opportunities/bid-proposal-advertisements.html. Secy. of State of DE, Div. of Corps., Databases such as MS SQL & Sybase; & or similar language; & Microsoft Office Please reference RFI Number 28260 in the subject line on all requests and include 401 Federal St., Dover, DE 19901. Windows Server Operat’g Sys & UNIX. & Visio, incl VBA macro progrm’g. In the following information in your e-mail: Firm name, contact person, e-mail address, Purpose: Any lawful activity. In lieu of 4-yr Bach deg, will accept 3 lieu of 4-yr bach’s deg, will accept 3 mailing address and telephone number. If you have any technical problems accessing yrs of post-secondary edu in stated field yrs of post-secondary edu in stated the proposal documents online, email us a [email protected] or call (201) Notice of Formation of Gerchberg & 1 yr of add’l work exp provid’g app field & 1 yr of add’l work exp provid’g Ophthalmic Dispensing, PLLC a 395-3405 for assistance. domestic Professional Limited Liability sys support & analysis. Resumes: info tech acct mgmt srvcs. Resumes: It is currently anticipated that responses shall be due by 2:00 PM on February 29, Company (PLLC). Art. of Org. filed AllianceBernstein L.P., Attn: J. Johnson, AllianceBernstein L.P., Attn: J. Johnson, 2012 or as otherwise indicated in the document. Responses shall be provided according with the SSNY on May 19, 2009. 1345 Avenue of the Americas, New York, 1345 Avenue of the Americas, New to the Submission of Information instructions in the RFI. Office location: New York County at NY 10105. Job code: NEWDUR. York, NY 10105. Job: NEWESM. 155 W 71st Street, Apt. 6G New York, NY 10023. SSNY is designated Security Engineer President, The Brooklyn Chamber NOTICE OF FORMATION OF LIMITED Notice of Qualification of M SQUARED agent upon whom process against (AllianceBernstein L.P. - White Plains, NY) of Commerce (BCC) LIABILITY COMPANY, NAME: CAPITAL PARTNERS LLC. Authority the LLC may be served. The SSNY Plan, coord, dsgn, implement & monitor Salary: Commensurate with experience MEDIAPLACE MZ PRODUCTIONS, filed with Secy. of State of NY (SSNY) shall mail a copy of any process to the info security systems. Req’s a Bach’s Position Description: The Brooklyn LLC. Articles of Organization were on 1/18/12. Office location: NY Kirk Gerchberg at 155 W 71st degr (or foreign equiv) in Comp Sci & 3 Chamber of Commerce founded in 1918 filed with the Secretary of State of County. LLC formed in Delaware (DE) Street, Apt. 6G New York, NY yrs exp dsgn’g & dvlp’g security for is a membership based, nonprofit business New York (SSNY) on 9/29/11. Office on 12/09/11. Princ. office of LLC: 37 10023. PURPOSE: To engage in any comp systems, physical netwrks, & apps assistance and economic development location: New York County. SSNY W. 21st St., Apt. 906, NY, NY 10001. lawful act or activity. that adhere to client standards. Stated organization dedicated to helping busi- has been designated as agent of the SSNY designated as agent of LLC exp must incl: IEEE & OMG security nesses grow as well as promoting the eco- LLC upon whom process against it upon whom process against it may be served. SSNY shall mail process to Notice of Qualification of TalentWise standards; analyz’g user req’s, procedures, nomic development of the Borough of may be served. SSNY shall mail a & probs & improv’g exist’g comp systems the LLC at the princ. office of the LLC. Solutions LLC. Authority filed with NY Brooklyn. The successful applicant should copy of process to the LLC 130 W. Dept. of State on 12/28/11. Office & netwrk security; writ’g detailed possess excellent entrepreneurial skills; the DE addr. of LLC: c/o Corporation 29th Street 4th Floor, New York, NY Service Co., 2711 Centerville Rd., Ste. location: NY County. LLC formed in descrips of user req’s; dsgn’g functional ability to interact with community leaders, 10001. Purpose: Any lawful purpose. 400, Wilmington, DE 19808. Cert. of NV on 11/13/06. NY Sec. of State specs & progrm specs; & perform’g government officials, small to large busi- maintenance of client comp systems, NOTICE OF QUALIFICATION of LIDC Form. filed with Secy. of State of DE, designated agent of LLC upon whom ness owners and executives. The position Dept. of State, Div. of Corps., John process against it may be served and hardware, & netwrks to enhance & correct requires excellent communication, mana- IV, LLC. Authority filed with NY Dept. system functionality. In lieu of Bach’s G. Townsend Bldg., Dover, DE 19901. shall mail process to: c/o CT gerial and organizational skills and follow of State on 1/11/12. Office location: Purpose: Any lawful activity. degr as stated, will accept 3 yrs of post- NY County. LLC formed in DE on Corporation System, 111 8th Ave., NY, up with the Chamber Board, Chamber NY 10011, regd. agent upon whom secondary edu in stated field & 1 add’l staff, Major members and partners. 11-30-11. SSNY is designated as Notice of Formation of LEHIGH 83, yr of exp dsgn’g & dvlp’g security for agent upon whom process against the process may be served. Principal Looking for an individual with a proven LLC. Arts. of Org. filed with Secy. of office addr.: 500 108th Ave. NE, Floor comp systems, physical netwrks, & apps track record with strong financial acumen LLC may be served. SSNY shall mail State of NY (SSNY) on 01/04/12. that adhere to client standards. Resumes: process to: 111 8th Ave., NY, NY 22, Bellevue, WA 98004. Cert. of Org. to operate current programs and events. Office location: NY County. Princ. filed with NV Sec. of State, 202 N. AllianceBernstein L.P., Attn: J. Johnson, Strong marketing skills are a must in order 10011. Address required to be office of LLC: 950 Third Ave., 31st 1345 Avenue of the Americas, New York, maintained in DE: 1209 Orange St., Carson St., Carson City, NV 89701. to raise awareness and funds as well as to Fl., NY, NY 10022. SSNY designated Purpose: all lawful purposes. NY 10105. Job WHIBZD. develop deepening relationship with stake- Wilmington, DE 19801. Cert. of Form. as agent of LLC upon whom process holders from the Business and filed with DE Secy. of State, 401 against it may be served. SSNY shall NOTICE OF FORMATION of Mischa Government communities of Brooklyn. Federal St., Ste. 4, Dover DE 19901. mail process to Levy Holm Pellegrino Lampert LLC. Arts of Org filed with BUSINESS & Interest in Brooklyn business and politics, Purpose: any lawful activities. & Drath LLP at the princ. office of the the Secy of State of NY (SSNY) on non-profit, government, neighborhood LLC. Purpose: Any lawful activity. 11/17/2011. Office Loc: NY County. NOTICE OF QUALIFICATION of LIDC SHOPPING improvement, economic growth and devel- SSNY designated as agent upon III, LLC. Authority filed with NY Dept. Notice of Formation of Progressive opment are required. Further info: Send whom process may be served shall of State on 1/10/12. Office location: Rehab and Home Care PT, PLLC. cover letter, resume and salary require- mail a copy of any process to the NY County. LLC formed in DE on Arts. of Org. filed with Secy. of State ments to [email protected]. principal business address: 155 11-30-11. SSNY is designated as of NY (SSNY) on 11/16/11. Off. loc.: Wooster Street, Apt. 5E New York, agent upon whom process against the NY County. SSNY designated as NY 10012. Purpose: any lawful acts. LLC may be served. SSNY shall mail agent of PLLC upon whom process against it may be served. SSNY shall REAL ESTATE process to: 111 8th Ave., NY, NY ERGO, LLC Articles of Org. filed NY mail process to: Corporation Service 10011. Address required to be Sec. of State (SSNY) 1/3/12. Office in Company, 80 State St., Albany, maintained in DE: 1209 Orange St., NY Co. SSNY desig. agent of LLC COMMERCIAL NY 12207. Purpose: practice the Wilmington, DE 19801. Cert. of Form. upon whom process may be served. profession of physical therapy. Hudson Valley of NYS filed with DE Secy. of State, 401 SSNY shall mail copy of process to TELECOMMUNICATIONS 1)200K SF / Communications Bldg, formerly IBM I84 Federal St., Ste. 4, Dover DE 19901. Notice of Formation of GALAXY 481 Washington St., NY, NY 10014, 2)Pawling, NY 50K SF/2.73 Acres Shwrm, Wrhse Purpose: any lawful activities. which is also the principal business 3)Cold Spring, NY / Restaurant / Bistro / Office SPECIAL LLC. Arts. of Org. filed with 4)Metro North Train Stop Live/Work Artist/Service Notice of Qualification of CHARLES Secy. of State of NY (SSNY) on location. Purpose: Any lawful purpose. 5)Investment Properties, off market deals 01/05/12. Office location: NY County. STERLING GROUP, LLC. Authority HASDEI HASHEM LLC Articles of 6)Development Sites, Apts, Retail, Office, Flex filed with Secy. of State of NY SSNY designated as agent of LLC 33 East 33rd Street [email protected] upon whom process against it may be Org. filed NY Sec. of State (SSNY) (SSNY) on 01/03/12. Office location: 12/1/11. Office in NY Co. SSNY New York, NY 10016 www.crproperties.com 845 485-3100 NY County. LLC formed in Delaware served. SSNY shall mail process to (DE) on 09/26/03. SSNY designated c/o Sukenik, Segal & Graff, P.C., 404 desig. agent of LLC upon whom 212-532-7400 process may be served. SSNY shall [email protected] as agent of LLC upon whom process Fifth Ave., 5th Fl., NY, NY 10018. against it may be served. SSNY shall Purpose: Any lawful activity. mail copy of process to 241 West 37th EMERGENCY PUBLIC & mail process to c/o National St., Ste. 208, NY, NY 10018, which is COMMUNICATIONS LEGAL NOTICES Registered Agents, Inc., 875 Ave. of NOTICE OF FORMATION OF Avadel also the principal business location. SYSTEMS the Americas, Ste. 501, NY, NY 10001. LLC. Arts of Org filed with SSNY on Purpose: Any lawful purpose. DE addr. of LLC: 160 Greentree Dr., 10/21/2011. Office location: NY Cty. SPECIALISTS NOTICE OF FORMATION OF LIMITED Ste. 101, Dover, DE 19904. Arts. of SSNY designated agent for process. Notice of Qualification of INCLINE • FREE PICKUP & DELIVERY LIABILITY COMPANY. NAME: Org. filed with DE Secy. of State, Div. Copy of any process to be mailed to GLOBAL PARTNERS LP. Authority • 48 HOUR TURNAROUND OBSERVATORY RIDGE, LLC. Articles of Corps., John G. Townsend Bldg., principal business address: 5 Crosby filed with Secy. of State of NY (SSNY) ON REPAIRS of Organization were filed with the 401 Federal St., Ste. 4, Dover, DE Street, Suite 3D, New York, NY on 01/13/12. Office location: NY • FREE ENGRAVING Secretary of State of New York (SSNY) 19901. Purpose: Any lawful activity. 10013. Purpose: any lawful acts. County. LP formed in Delaware (DE) on 01/18.12. Office location: New York on 01/09/12. Princ. office of LP: 110 • SHORT & LONG TERM Notice of Qualification of 59 West 35th Notice of Qualification of JCG Staffing Central Park South, 22nd Fl., NY, NY RENTALS County. SSNY has been designated as agent of the LLC upon whom Street Operator LLC. Authority filed LLC. Application for Authority filed 10019. SSNY designated as agent of process against it may be served. with NY Dept. of State on 11/23/11. with the Secretary of State of New LP upon whom process against it may Office location: NY County. Princ. bus. York (SSNY) on 12/23/2011. Office SSNY shall mail a copy of process be served. SSNY shall mail process addr.: 59 W. 35th St., NY, NY 10001. location: New York County. LLC to the LLC at the princ. office of the to the LLC, 2002 Fifth Avenue, #7A, LLC formed in DE on 10/28/11. NY formed in DE on 12/5/2011. SSNY New York, New York 10035. LP. The regd. agent of the company Sec. of State designated agent of LLC designated as an agent upon whom upon whom and at which process Purpose: For any lawful purpose. upon whom process against it may be process may be served and shall against the company can be served served and shall mail process to: CT mail process to the principal business Corporation System, 111 8th Ave., 13th address c/o Gruss & Co., Inc., 777 is Jeffrey Lignelli, c/o Incline Global Fl., NY, NY 10011. DE addr. of LLC: South Flagler Drive, #801-E, West Management LLC,at the princ. office c/o The Corporation Trust Co., 1209 Palm Beach, FL 33401. Certificate addr. Name and addr. of each general To place your classified ad call Orange St., Wilmington, DE 19801. Cert. of LLC filed with the Secretary of partner are available from SSNY. DE of Form. filed with DE Sec. of State, State of DE located at Division of addr. of LP: 2711 Centerville Rd., Ste. 401 Federal St., Dover, DE 19901. Corporations, John G. Townsend 400, Wilmington, DE 19808. Arts. of Purpose: to engage in any lawful Building, 401 Federal Street, Ste. 4, Org. filed with Secy. of State of the Trish Henry @ 212-210-0711 activity related to its ownership and Dover, Delaware 19901. Purpose: State of DE, 401 Federal St., Dover, DE operation of real estate. Any lawful acts. 19901. Purpose: Any lawful activity.

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PUBLIC & LEGAL NOTICES

Notice of Qualification of EQR-175 Notice of Qualification of CASTLE Notice of Qualification of KINNEY Notice of Qualification of Restaurant Notice of Qualification of THRILLIST Kent Avenue B, LLC. Authority filed CAPITAL MANAGEMENT, LLC. PARKING SYSTEM, LLC. Authority 40 LLC. Authority filed with Secy. of REWARDS LLC. App. for Auth. filed with NY Dept. of State on 12/16/11. Authority filed with Secy. of State of filed with Secy. of State of NY (SSNY) State of NY (SSNY) on 1/3/12. Office with Secy. of State of NY (SSNY) on Office location: NY County. Princ. NY (SSNY) on 01/20/12. Office location: on 01/17/12. Office location: NY location: NY County. LLC formed in 1/10/12. Off. loc.: NY County. LLC bus. addr.: 2 N. Riverside Plaza, Ste. NY County. LLC formed in Delaware County. LLC formed in Tennessee (TN) Delaware DE) on 12/23/11. SSNY formed in Delaware (DE) on 1/20/11. 400, Chicago, IL 60606. LLC formed (DE) on 01/13/12. Princ. office of on 12/12/11. Princ. office of LLC: designated as agent of LLC upon SSNY designated as agent of LLC in DE on 12/13/11. NY Sec. of State LLC: Attn: John Shaw III and Kraig 2401 21st Ave. South, Nashville, TN whom process against it may be upon whom process against it may designated agent of LLC upon whom Tuber, 1177 Ave. of the Americas, 37212. SSNY designated as agent of served. SSNY shall mail process to: be served. SSNY shall mail process process against it may be served and NY, NY 10112. SSNY designated as LLC upon whom process against it c/o National Registered Agents, Inc., to: c/o Pilot Group, 75 Rockefeller shall mail process to: c/o CT agent of LLC upon whom process may be served. SSNY shall mail 875 Ave. of the Americas, Ste. 501, Plaza, 23rd Fl., NY, NY 10019, Attn: Corporation System (CTCS), 111 8th against it may be served. SSNY shall process to Corporation Service Co., NY, NY 10001, also the registered Paul McNicol. DE address of LLC: Ave., NY, NY 10011, regd. agent mail process to the LLC at the princ. 80 State St., Albany, NY 12207. TN agent. Principal office address: 725 c/o Corporation Service Company, upon whom process may be served. office of the LLC. DE addr. of LLC: addr. of LLC: 2401 21st Ave. South, 5th Ave., NY, NY 10022. Address to be 2711 Centerville Rd., Ste. 400, DE addr. of LLC: c/o CTCS, 1209 c/o Corporation Service Co., 2711 Ste. 200, Nashville, Davidson Cnty., maintained in DE: 160 Greentree Dr., Wilmington, DE 19808. Cert. of Orange St., Wilmington, DE 19801. Centerville Rd., Ste. 400, Wilmington, TN 37212. Arts. of Org. filed with TN Ste. 101, Dover, DE 19904. Arts of Org. Form. filed with DE Secy. of State, Cert. of Form. filed with DE Sec. of DE 19808. Arts. of Org. filed with Secy. of State, 312 Rosa L. Parks Ave., filed with the DE Secretary of State, 401 Federal St., Ste. 4, Dover, DE State, 401 Federal St., Dover, DE Secy. of State of DE, 401 Federal St., 6th Fl., William R. Snodgrass Tower, 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: any lawful activity. 19901. Purpose: all lawful purposes. Ste. 4, Dover, DE 19901. Purpose: Nashville, TN 37243. Purpose: Own 19901. Purpose: any lawful activities. Any lawful activity. and operate parking facilities. Notice of Qualification of BBC Retail Notice of formation of Poly Notice of Formation of Limited & Internet LLC. Authority filed with NY International Auction Co., LLC. The Notice of Formation of PunchUp LLC. Notice of Qualification of It Fragrance Liability Company (LLC) SABON Dept. of State on 1/18/12. Office company was formed on May 5, 2011 Arts. of Org. filed with Secy. of State LLC. Authority filed with Secy. of BOOTH, LLC Articles of Organization location: NY County. LLC formed in FL in NY County. Office address: 36 W. of NY (SSNY) on 11/16/11. Off. loc.: NY State of NY (SSNY) on 1/13/12. Office filed by the Department of State of on 6/2/11. NY Sec. of State designated 44th St., Suite 707, New York, NY County. SSNY designated as agent of location: NY County. LLC formed in New York on 01/03/2012. Office agent of LLC upon whom process against it may be served and shall 10036. Service of process may be LLC upon whom process against it may Delaware (DE) on 1/11/12. SSNY location: County of New York. mail process to: c/o CT Corporation effected by mailing to the correspon- be served. SSNY shall mail process designated as agent of LLC upon Purpose: any and all lawful activities. ding Secretary of State. Purpose of whom process against it may be System, 111 8th Ave., NY, NY 10011, to: 219 E 59th Street, New York, NY Secretary of State of New York regd. agent upon whom process may LLC: to engage in any lawful activity. served. SSNY shall mail process to: 10022. Purpose: loyalty reward system. c/o National Registered Agents, Inc., (SSNY) designated as agent of LLC be served. FL and principal business upon whom process against it may INES G EDITORIAL LLC, a domestic 875 Ave. of the Americas, Ste. 501, addr.: 3850 Bird Rd., #800, Miami, FL MARY BLAKE INTERIORS, LLC, a be served. SSNY shall mail copy of LLC, Arts. of Org. filed with the SSNY NY, NY 10001, also the registered 33146. Cert. of Org. filed with FL Sec. domestic LLC, Arts. of Org. filed process to: 38 Greene Street, Suite on 12/12/11. Office location: New agent. Principal office address: 725 of State, 2661 Executive Ctr. Cir., with the SSNY on 12/20/11. Office Fifth Ave., NY, NY 10022. Address to 5A New York, NY 10013. Tallahassee, FL 32301. Purpose: all York County. SSNY is designated as location: New York County. SSNY is agent upon whom process against be maintained in DE: 160 Greentree Dr., lawful purposes. designated as agent upon whom Ste. 101, Dover, DE 19904. Arts of Org. Notice of Formation of BURGEON & the LLC may be served. SSNY shall process against the LLC may be FLOURISH, LLC. Arts. of Org. filed Notice is hereby given that a license mail process to: Ines Greenberger, filed with the DE Secretary of State, 401 served. SSNY shall mail process to: Federal St., Ste. 4, Dover, DE 19901. with Secy. of State of NY (SSNY) on (#TBA) for LIQUOR has been applied 55 E. 9th St., Ste. T-C, NY, NY 10003. The LLC, 347 W. 57th St., NY, NY Purpose: any lawful activities. 01/06/12. Office location: NY County. for by 511 E 5TH ST. LLC at retail, in General Purposes. 10011. General Purposes. Princ. office of LLC: 400 E. 77th St., a RESTAURANT, under the ABC Law NOTICE OF FORMATION OF BARD MLEKODAY CPA LLC, a domestic Apt. 1H, NY, NY 10075. SSNY at 511 E 5TH ST. NY, NY 10009 for PLAZA PENTHOUSE LLC a domestic PARTNERS LLC. Arts of Org filed designated as agent of LLC upon on-premises consumption. PLLC, Arts. of Org. filed with the SSNY LLC, Arts. of Org. filed with the with the Secy of State of NY (SSNY) on 10/9/09. Office location: New whom process against it may be SSNY on 1/11/12. Office location: on 12/16/11. Office location: NY served. SSNY shall mail process to GS Galleries, LLC - Arts of Org. filed York County. SSNY is designated as New York County. SSNY is desig- County. SSNY designated as agent with Secy. of State of NY (SSNY) on agent upon whom process against the LLC at the addr. of its princ. nated as agent upon whom process upon whom process may be served. office. Purpose: Any lawful activity. 11/3/2011. Office location: New York the PLLC may be served. SSNY against the LLC may be served. The PO address to which SSNY shall County. SSNY designated as agent of shall mail process to: The LLC, 1798 SSNY shall mail process to: The mail copy of any process: LEAH Notice of Formation of AFD LLC upon whom process against it 3rd Ave., NY, NY 10029. Purpose: LLC, c/o Cohen & Frankel, LLP, 286 PESKIN, 140 W 79TH ST, PHB, NY, Productions LLC. Arts. of Org. filed may be served. SSNY shall mail Certified Public Accountancy. Madison Ave., Ste. 2100, NY, NY NY 10024. Principal business with Secy. of State of NY (SSNY) on process to c/o Ganfer & Shore, LLP, NOTICE OF FORMATION OF Wind 10017. General Purposes. address: 140 W 79TH ST PHB, NY, 12/29/11. Office location: NY County. 360 Lexington Ave., NY, NY 10017. Law Office PLLC. Arts of Org filed NY 10024. Purpose: any lawful act. SSNY designated as agent of LLC Purpose: any lawful activity. with the Secy of State of NY (SSNY) Notice Of Formation Of Shafer Billing upon whom process against it may Notice of Formation of ALL IS LOST, on 12/06/2011. Office loc: NY Co. Practice Management LLC. Arts of Notice of Qualification of Executive be served. SSNY shall mail process LLC. Arts. of Org. filed with Secy. of SSNY designated as an agent upon Orgfiled with the Secy of State of NY Le Soleil New York LLC. Appl. for to: The LLC, 601 West 26th St., Ste. State of NY (SSNY) on 12/14/11. Off. whom process may be served and (SSNY) on 9/13/11. Office loc: NY Authority filed with Secy. of State of 1762, NY, NY 10001. Purpose: any loc: NY County. SSNY designated as shall mail a copy of any process to County. SSNY designated as agent NY (SSNY) on 12/09/11. Off. loc.: New lawful activities. agent of LLC upon whom process the principal business address: 387 upon whom process may be served York Co.; orig. juris.: Delaware. SSNY Notice of formation of Point Grey against it may be served. SSNY shall Grand Street, #404, NY, NY 10002. and shall mail process to The principal designated as agent of LLC upon whom Capital Advisors LLC. Arts of Org mail process to: 310 Bowery, NY, NY Purpose: any lawful act. business address: 63 Wall Street, process against it may be served. Ste 1307, NY, NY 10006. Purpose: SSNY shall mail process to the LLC, filed with Secy Of State of NY 10012. Purpose: any lawful activity. NOTICE OF FORMATION OF U.S. any lawful acts. c/o Robinson Brog, et al., 875 Third (SSNY) on 11/15/11. Office loc: NY Immigration Fund-NY LLC. Arts of Org Ave., 9th Fl., New York, NY 10022, Cty. SSNY designated as agent NOTICE OF QUALIFICATION of CNT filed with the Secy of State of NY Name of LLC: NYVER GROUP LLC. Attn: David M. Blumenthal, Esq. upon whom process against it may PROPERTIES LLC. Authority filed (SSNY) on 12/6/11. Office location: Arts. of Org. filed with NY Dept. of Purpose: any lawful act or activity. be served and shall mail process to: with the Secy of State of NY (SSNY) NY Cnty. SSNY designated as agent State: 1/3/12. Office loc.: NY Co. Sec. 129 W 75th St, 4F, NY, NY, 10023. on 1/10/12. Office loc: NY County. upon whom process may be served. of State designated agent of LLC Notice of Formation of AURIGA Purpose: any lawful acts. LLC formed in NJ on 1/4/12. SSNY The PO address to which the SSNY upon whom process against it may IMMOBILIARE, LLC. Arts. of Org. filed designated as agent upon whom shall mail copy of process is: 11770 be served and shall mail process to: with Secy. of State of NY (SSNY) on EPIC FIGHT LLC, a domestic LLC. process may be served. SSNY shall US Hwy 1, #301, PBG, FL 33408. c/o Business Filings Inc., 187 Wolf 01/03/12. Office location: NY County. Arts. of Org. filed with the SSNY on mail process to 301 N. Harrison St, The principal business address of the Rd., Ste. 101, Albany, NY 12205, Princ. office of LLC: 420 Fifth Ave., 12/19/2011. Office location: NY PMB#117, Princeton, NJ 08540, its LLC is: 111 Bdwy, 11th Fl, NY,NY regd. agt. upon whom process may 26th Fl., NY, NY 10018. SSNY County. SSNY has been designated princ. business and NJ address. Cert 10006. Purpose: any lawful act. be served. Purpose: any lawful act. designated as agent of LLC upon as agent upon whom process against of LLC filed with NJ Secy of State: whom process against it may be the LLC may be served. SSNY shall 33 W State St, Trenton, NJ 08608. NOTICE OF FORMATION of U.S. DB ENERGY CONSULTING LLC, a served. SSNY shall mail process to mail process to: 842 2nd Ave., NY, NY Purpose: any lawful act. SPORTS FILM HOLDINGS, LLC. domestic LLC, Arts. of Org. filed with Eugenio Minoli, Altieri Esposito Minoli 10017. Reg Agent: Alexander Nicholas, Arts of Org filed with the Sec of State the SSNY on 12/27/11. Office location: PLLC at the princ. office of the LLC. 842 2nd Ave., NY, NY 10017. Notice of formation of VIENNA of NY (SSNY) on 2/25/11. Office New York County. SSNY is designated Purpose: Any lawful activity. Purpose: Any Lawful Purpose. WOODS PROPERTIES 2, LLC a location: NY County. SSNY has been as agent upon whom process against domestic Limited Liability Company designated as the agent upon whom the LLC may be served. SSNY shall Notice of Formation of TennPenn NOTICE OF FORMATION OF Wasser (LLC). Articles of Organization filed process may be served and shall mail process to: Daniel J. Borriello, Town & Country LLC. Arts. of Org. Coaching LLC. Arts of Organization with the Secretary of State on mail a copy of any process to: 2000 Esq., 134 W. 13th St., Ground Fl., NY, filed with Secy. of State of NY filed with the Secretary of State of NY January 4, 2012. NY Office Location: Broadway, #5A, New York, NY 10023. NY 10011. General Purposes. (SSNY) on 12/29/11. Office location: (SSNY) on 11/17/11. Office loc: NY New York County. Secretary of State Principal business address: 2000 NY County. SSNY designated as Cty. SSNY designated as agent upon is designated as agent upon whom Broadway, #5A, New York, NY 10023. NOTICE OF FORMATION OF NYC agent of LLC upon whom process whom process may be served and process against the LLC may be Purpose: any lawful acts. Nutritional Therapy LLC. Arts of Org against it may be served. SSNY shall shall mail process to: 4 Carriage Way, served. Secretary of State shall mail filled with the Secy of State of NY mail process to Corporation Service Montclair, NJ 07042. Principal a copy of any process against the Notice of qualification of Creative (SSNY) on 9/2/11. Office loc: NY Cty. Co., 80 State St., Albany, NY 12207- business address: 300 Central Park LLC served upon him/her to: 500 Licensing Group, LLC. Fict Name: CLG SSNY designated as agent upon 2543. Purpose: Any lawful activity. West, Ste 1C, NY, NY 10024. Atlantic Avenue, #19F, Boston, Licensing, LLC. App for Authority filed whom process may be served and Purpose: any lawful acts. Massachusetts 02210. Purpose: To with the Secy of State of NY (SSNY) shall mail process to the principal Notice of Qualification of CASTLE engage in any lawful act or activity. on 10/7/11. Office loc: New York business address: 31-28 Crescent CAPITAL PARTNERS GP, LLC. Notice of Qualification of Columbus County. LLC formed in DE on 8/27/10. Street, D2, Astoria, NY 11106. Authority filed with Secy. of State of Square 808 LLC. Authority filed with Notice of Qualification of Crowd Play, SSNY has been designated as an Purpose: any lawful acts. NY (SSNY) on 01/20/12. Office location: NY Dept. of State on 1/5/12. Office LLC. Authority filed with Secy. of agent upon whom process may be NY County. LLC formed in Delaware location: NY County. Princ. bus. State of NY (SSNY) on 12/29/11. served and shall mail a copy of any Notice of Qualification of Consolidated (DE) on 01/13/12. Princ. office of addr.: 1745 Shea Center Dr., Ste. Office location: NY County. LLC process against the LLC served upon Trading LLC. Application for Authority LLC: Attn: John Shaw III and Kraig 200, Highlands Ranch, CO 80129. formed in Delaware (DE) on 12/12/11. it to c/o Corporation Service Company, filed with the Secretary of State of Tuber, 1177 Ave. of the Americas, LLC formed in DE on 12/29/11. NY SSNY designated as agent of LLC 80 State Street, Albany, NY 12207-2543. NY (SSNY) on 11/18/2011. NY office NY, NY 10112. SSNY designated as Sec. of State designated agent of upon whom process against it may be Princ address of LLC: 1619 Broadway, LLC upon whom process against it served. SSNY shall mail process to: loc: NY Cty. LLC formed in Illinois on agent of LLC upon whom process 9th Flr, New York, NY 10019. DE may be served and shall mail c/o National Registered Agents, Inc., address of LLC: c/o Corporation 10/22/01. SSNY designated as agent against it may be served. SSNY shall process to: c/o CT Corporation 875 Ave. of the Americas, Ste. 501, Service Company, 2711 Centerville of LLC upon process against it may mail process to the LLC at the princ. System, 111 8th Ave., NY, NY 10011, NY, NY 10001. Principal office Road, Suite 400, Wilmington, DE be served and shall mail process to office of the LLC. DE addr. of LLC: regd. agent upon whom process may address: 245 8th Ave., #199, NY, NY 19808. Cert of Formation of LLC filed the principal business/IL address: 200 c/o Corporation Service Co., 2711 be served. DE addr. of LLC: c/o The 10011. Address to be maintained in on 8/27/10 with the Secy of State of W Jackson Blvd, Ste. 2300, Chicago, Centerville Rd., Ste. 400, Wilmington, Corporation Trust Co., 1209 Orange DE: 160 Greentree Dr., Ste. 101, DE loc at: Div of Corps, John G IL 60606. Certificate of LLC filed with DE 19808. Arts. of Org. filed with St., Wilmington, DE 19801. Cert. of Dover, DE 19904. Arts of Org. filed Townsend Bldg, 401 Federal Street - Sec of State of IL located at 501 S. Secy. of State of DE, 401 Federal St., Form. filed with DE Sec. of State, with the DE Secretary of State, 401 Ste 4, Dover, DE 19901. Purpose of 2nd St., Room 351, Springfield, IL Ste. 4, Dover, DE 19901. Purpose: 401 Federal St., Dover, DE 19901. Federal St., Ste. 4, Dover, DE 19901. LLC: any lawful activity. 62756. Purpose: any lawful acts. Any lawful activity. Purpose: all lawful purposes. Purpose: any lawful activities.

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Recchio. Since the racino opened in surances from Mr. Cuomo that its The company’s next challenge is South Ozone Park,Empire City has $4 billion investment—the amount winning over the companies that Aqueduct gold strike watched its growth disappear. it will cost to build a 3.8 million- produce mega-events such as the “Our numbers are flat,” said Tim square-foot convention center, annual Consumer Electronics Continued from Page 1 stood out,outbidding its competitors Rooney Jr., whose family owns the 3,000 hotel rooms and other ameni- Show, which brings 153,000 atten- average of 20,000 locals every day.It to develop Aqueduct and paying a racino in Yonkers. “I’m envious of ties—will not be undercut by com- dees to Las Vegas. has been profitable from day one. nonrefundable licensing fee of $380 how quickly they built up a cus- petitors building casinos nearby. Executives in the tourism and But Genting Americas, the million—$80 million more than the tomer base.” “We need to reassure our lenders trade show business have been luke- Malaysian firm that owns the casi- minimum the state required. Although Genting cleared a sig- that the project will be successful,” warm about a convention center in no, has its eye on an even bigger Its $830 million racino was com- nificant hurdle in getting a foothold said Christian Goode, senior vice South Ozone Park, because of its prize, and is proposing to transform pleted in 365 days, while more than in the city, it still faces formidable president of development for distance from, and lack of speedy this drab parcel of land, located 14 90% of the 1,500 unionized workers legislative and competitive chal- Genting Americas.The company is transportation to, Manhattan.They miles outside Manhattan, into a at the casino are minorities or women lenges and even skepticism about negotiating with the Cuomo ad- say that the appeal of coming to destination like no other in the city. earning an average net salary of the wisdom of the convention cen- ministration over this issue. New York for a trade show is being It has persuaded a powerful gover- $35,000. And despite paying 70% of ter’s location. Clearly, how big a jackpot New in Manhattan.Shows held at the Ja- nor to pave the way for it to develop its revenues to the state, Resorts York City proves for Genting rests on cob K.Javits Convention Center,for the largest convention center in the World Casino is pocketing more than A convention boost for the racino the future of live table gaming in the example, draw up to 15% more at- country, including a hotel and retail it is spending on operations. Genting executives say they don’t state, which, according to Mr. tendees compared with other cities. complex that would draw visitors From November through Janu- expect the convention center to be Rooney, “attracts a customer who One scenario for the future from around the world. In the long ary,it generated nearly $140 million profitable on a stand-alone basis. would be inclined to spend money off might include a land grab by term, steps taken by the Cuomo ad- in gambling revenues and was al- Their business model relies on the of the gambling floor in a fine-dining Genting for the adjacent racetrack, ministration to amend the state lowed to keep more than $32 mil- additional revenue it would generate restaurant,for example,and someone whose operation would move to the constitution to allow live table gam- lion, according to the New York from trade show delegates feeding who spends a weekend at the casino.” nearby Belmont track. ing could see Resorts World offer State Lottery, which owns Resorts into the casino, entertainment and Meanwhile, Las Vegas magnate “We wouldn’t oppose a move to full-fledged gambling. World’s 5,000 electronic video lot- hotel complex. Executives conserva- Steve Wynn (who had shown early Belmont,” said Mr. Goode. The The publicly traded firm, which tery terminals. Genting would like tivelyestimate that trade shows could interest in bidding on the racino be- governor has even vaguely hinted operates 51 casinos in Asia, Europe to increase the number of slot ma- bring up to 2 million people a year— fore he dropped out) is circling the that Genting’s expansion could af- and North America and has a ma- chines, but it is capped at the mo- a 25% boost—to the racino. wagons, hiring lobbyists and a pow- fect Belmont. jority stake in Norwegian Cruise ment by the lottery. But in order to build all of the con- erful public relations firm to represent “There has always been talk about Lines, has so far played all its cards Locals, from hard-core gamblers vention center project,Genting needs his interests in Albany. consolidating racing at Belmont,” right in New York, delivering on to those simply looking for enter- an additional 22 acres of land owned “It’s quite clear that New York is a said Rick Violette, president of the every promise it has made, fully rec- tainment,have embraced the racino. by the city and leased to the Port Au- major gaming market,” said Barry New York Thoroughbred Horse- ognizing the opportunity it has to “I come here now one to three thority of New York and New Jersey Slotnick, Mr. Wynn’s lawyer. “Mr. men’s Association, which represents dominate the fledgling gambling times a week,” said Regina Recchio, for airport parking. The company is Wynn and other major Las Vegas owners and trainers at the Saratoga, industry in the city. who lives in nearby Valley Stream, also negotiating with transportation people will look to come here.” Aqueduct and Belmont tracks. “Genting has proceeded with the L.I. “On New Year’s Eve, my hus- authorities to link Aqueduct to the But Genting may have a leg up in “I’m sure Genting is interested in project, which from all perspectives band and I were here for 12 hours.” AirTrain in Jamaica and to expedite limiting its competition. Mr. Cuo- the land, but we would be very de- has gone exceedingly well,” Gov. Its closest rival, Empire City travel to Manhattan with express mo wants a bigger convention cen- fensive against any initiative that Andrew Cuomo wrote last month. Casino at Yonkers Raceway, knows service on the A line. ter, and Genting is offering to build would harm this industry,” Mr. Vi- From the beginning, Genting only too well about people like Ms. Additionally, Genting wants as- it at no cost to taxpayers. olette added. Ⅲ

PUBLIC & LEGAL NOTICES

Name of Foreign LLC: Butlers of the Notice of Qualification of SunRun Notice of Qualification of A3 HOLDINGS, Notice of Application for Authority of Notice of Qualification of BRASSERIE Big Apple LLC. Authority filed with Solar Tenant VI, LLC. Authority filed LLC. Authority filed with Secy. of Signature Captive Solutions, LLC 8-1/2 LLC. Authority filed with Secy. of NY Dept. of State: 11/3/11. Office with NY Dept. of State on 1/27/12. State of NY (SSNY) on 02/01/12. filed with the Secy. of State of NY State of NY (SSNY) on 02/01/12. Office loc.: NY Co. LLC formed in DE: Office location: NY County. LLC Office location: NY County. LLC (SSNY) on 7/26/11. Formed in PA location: NY County. LLC formed in 9/30/11. NY Sec. of State designated formed in CA on 1/24/12. NY Sec. of formed in Delaware (DE) on 12/12/11. 5/21/08. Office loc.: New York County. Delaware (DE) on 01/20/00. Princ. agent of LLC upon whom process State designated agent of LLC upon SSNY designated as agent of LLC The SSNY is designated as agent of office of LLC: 9 W 57th St., NY, NY against it may be served and shall whom process against it may be upon whom process against it may LLC upon whom process against it 10019. SSNY designated as agent of mail process to: c/o Business Filings served and shall mail process to: CT be served. SSNY shall mail process may be served. The address SSNY LLC upon whom process against it Inc., 187 Wolf Rd., Ste. 101, Albany, Corporation System, 111 8th Ave., to the LLC, 200 Mott St., Apt. #18, NY, shall mail copy of process to is 747 may be served. SSNY shall mail NY 12205. DE addr. of LLC: 108 W. NY, NY 10011. CA and principal NY 10012. DE addr. of LLC: 2711 Dresher Rd., Ste. 100, Horsham, PA process to c/o Corporation Service 13th St., Wilmington, DE 19801. business addr.: 45 Fremont St., 32nd Centerville Rd., Ste. 400, Wilmington, 19044. The required office address Co. (CSC), 80 State St., Albany, NY Cert. of Form. filed with DE Sec. of Fl., San Francisco, CA 94105. Cert. DE 19808. Arts. of Org. filed with DE in PA is 2745 Harvard Dr., Warrington, 12207-2543. DE addr. of LLC: c/o State, 401 Federal St., Dover, DE of Org. filed with CA Sec. of State, Secy. of State, Div. of Corps., 401 PA 18976. Cert. of Organization filed CSC, 2711 Centerville Rd., Ste. 400, 19901. Purpose: any lawful act. 1500 11th St., Sacramento, CA Federal St., Ste. 4, Dover, DE 19901. with Carol Aichele, Sec. of the Wilmington, DE 19808. Arts. of Org. 95814. Purpose: all lawful purposes. Purpose: Any lawful activity. Commonwealth, 401 North St., filed with Jeffrey W. Bullock, Secy. of NOTICE OF FORMATION OF LIMITED Room 206, Harrisburg, PA 17120. State, 401 Federal St., Townsend LIABILITY COMPANY. NAME: Notice of Formation of Music Brand NOTICE OF FORMATION of limited Bldg., Ste. 3, Dover, DE 19901. WYDOWN PROPERTIES LLC. Articles Acquisition LLC. Arts. of Org. filed liability company (LLC). Name: Notice of Formation of Limited Purpose: Any lawful activity. of Organization were filed with the with NY Dept. of State on 1/11/12. CRUCIANI USA, LLC. Articles of Liability Company (LLC) SABON 782 Secretary of State of New York (SSNY) Office location: NY County. Princ. Organization filed with the Secretary LEX, LLC. Articles of Organization NOTICE OF REGISTRATION of Samach on 12/21/11. Office location: New bus. addr.: 41A Sagamore Hill Dr., of State of New York (SSNY) on filed by the Department of State of + Seo Architecture & Planning LLP York County. SSNY has been Port Washington, NY 11050. Sec. of 10/31/2011. Office location: New York New York on 01/03/2012. Office Cert. of Reg. filed Sec’y of State (SSNY) designated as agent of the LLC upon State designated agent of LLC upon County. SSNY designation as agent location: County of New York. 2/3/12. Office location: New York whom process against it may be whom process against it may be of LLC upon whom process against it Purpose: any and all lawful activities. County. SSNY designated as agent of served. SSNY shall mail a copy of served and shall mail process to: may be served. SSNY shall mail copy Secretary of State of New York LLP upon whom process against it process to the LLC, 580 Park Avenue, Vano Haroutunian, 729 7th Ave., of process to: The LLC c/o MARCUS (SSNY) designated as agent of LLC may be served. SSNY shall mail copy New York, New York 10065, ATTN: 17th Fl., NY, NY 10019. Purpose: all ATTORNEYS, 13 GREENE AVENUE, upon whom process against it may of process to David C. Wrobel, Esq., Philip R. Cowen. Purpose: For any lawful purposes. BROOKLYN, NEW YORK 11238. be served. SSNY shall mail copy of 1040 Ave of the Americas, Suite 1101, lawful purpose. Purpose: Any lawful purpose. process to: 38 Greene Street, Suite New York, NY 10018. Purpose: to Notice of Qualification of ADVISER 5A New York, NY 10013. practice the profession of architecture. Notice of Qualification of PAYNE COMPLIANCE ASSOCIATES, L.L.C. Notice of Qualification of PAYNE HOLDING COMPANY LLC. Authority Authority filed with Secy. of State of NY APPAREL LLC. Authority filed with Notice of Qualification of EQR-175 Notice of Qualification of CARVER CDC filed with Secy. of State of NY (SSNY) on 11/23/11. Office location: Secy. of State of NY (SSNY) on Kent Avenue A, LLC. Authority filed - SUBSIDIARY CDE 5, LLC. Authority (SSNY) on 01/09/12. Office location: NY County. LLC formed in District of 01/09/12. Office location: NY County. with NY Dept. of State on 12/16/11. filed with Secy. of State of NY (SSNY) NY County. LLC formed in Delaware Columbia (DC) on 10/01/01. Princ. LLC formed in Delaware (DE) on Office location: NY County. Princ. bus. on 01/12/12. Office location: NY (DE) on 08/04/11. Princ. office of office of LLC: 8403 Colesville Rd, 02/23/11. Princ. office of LLC: 1384 addr.: 2 N. Riverside Plaza, Ste. 400, County. LLC formed in Delaware (DE) LLC: 1384 Broadway Ave., NY, NY Suite 870, Silver Spring, MD 20910. Broadway Ave., NY, NY 10018. SSNY Chicago, IL 60606. LLC formed in DE on 12/04/06. Princ. office of LLC: 75 10018. SSNY designated as agent of SSNY designated as agent of LLC designated as agent of LLC upon on 12/13/11. NY Sec. of State W. 125th St., NY, NY 10027. SSNY LLC upon whom process against it upon whom process against it may be whom process against it may be designated agent of LLC upon whom designated as agent of LLC upon whom may be served. SSNY shall mail served. SSNY shall mail process to served. SSNY shall mail process to process against it may be served and process against it may be served. process to Don Lewis, 5175 S. Soto 8403 Colesville Rd, Suite 870, Silver Don Lewis, 5175 S. Soto St., Vernon, shall mail process to: c/o CT SSNY shall mail process to the LLC, St., Vernon, CA 90058. DE addr. of Spring, MD 20910. DC addr. of LLC: CA 90058. DE addr. of LLC: c/o Corporation System (CTCS), 111 8th 120 Broadway, NY, NY 10271. DE LLC: c/o Corporation Service Co., 1224 M Street, NW, Suite 101, Corporation Service Co., 2711 Ave., NY, NY 10011, regd. agent upon addr. of LLC: Corporation Service 2711 Centerville Rd., Ste. 400, Washington, DC 20005. Cert. of Centerville Rd., Ste. 400, Wilmington, whom process may be served. DE Co., 2711 Centerville Rd., Ste. 400, Wilmington, DE 19808. Arts. of Org. Form. filed with Superintendent of DE 19808. Arts. of Org. filed with DE addr. of LLC: c/o CTCS, 1209 Orange Wilmington, DE 19808. Arts. of Org. filed with DE Secy. of State, Div. of Corporations, Corporations Division, Secy. of State, Div. of Corps., John St., Wilmington, DE 19801. Cert. of filed with Secy. of State, Div. of Corps., John G. Townsend Bldg., DCRA, 1100 4th Street, SW, G. Townsend Bldg., 401 Federal St., Form. filed with DE Sec. of State, 401 Corps., John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE Washington, DC 20024. Purpose: Ste. 4, Dover, DE 19901. Purpose: Federal St., Dover, DE 19901. 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity. Any lawful activity. Any lawful activity. Purpose: all lawful purposes. 19901. Purpose: Any lawful activity.

22 | Crain’s New York Business | February 13, 2012 20120213-NEWS--0023-NAT-CCI-CN_-- 2/10/2012 8:11 PM Page 1

the-counter market. Regulators want over-the-counter transactions Javits fans unhappy Lutnick’s reinvention that commonly take place—the in- dustry term is “standardized”—to Continued from Page 1 sance hotels in New York City. Continued from Page 3 low a minimum amount. be done in the broad daylight of an as Javits is undergoing a $463 mil- Even Genting Americas, the economy and bank regulators “I haven’t met a client yet who af- exchange. That could make the lion renovation that has already im- Malaysian company that wants to frowning on big throws of the dice. ter hearing about it didn’t want to trades less profitable for the parties proved the 26-year-old building build the gigantic convention center The silence is threatening learn more,” said Mr. Lutnick, who, involved and less likely to be made, significantly. A new hall was added in Queens, is not counting on Javits growth at his business, which re- despite his enthusiasm for the new Mr. Tabb said. to the center in 2010.It would be de- disappearing. mained resilient following the fi- offering, declines to forecast how Europe, where BGC generates molished shortly after the renova- “We plan to operate alongside nancial crisis but now faces a serious much revenue could be generated 40% of its revenue, is taking an even tion is completed next year, accord- Javits,”said Christian Goode,senior drop-off unless Mr. Lutnick can from the venture, which is in the tougher line. “Regulators there es- ing to the governor’s proposal. vice president of development. “We somehow get the bets flowing again. very early stages. sentially want to abolish the over- have committed not to compete Shares in BGC Partners have fallen Of course, in a slow-growing the-counter market,”Mr.Tabb said. Appalled by the waste with it.” by a third in the past year as investors economy, business tenants might The hotel industry, which is Despite its size limitations, the turned against Wall Street firms not be too worried about slow-rising The popularity trap helping to pay for the construction, Javits Center is among the most suc- that rely heavily on trading activity. rents. And plenty of novel ways to For Mr. Lutnick, the way out is charging customers a $1.50 room cessful trade show facilities in the Analysts at BMO Capital Markets invest in real estate have flopped. to come up with new wagers that are tax per night, is appalled by the country, with an occupancy rate ex- forecast an 11% decline in BGC’s Funds created three years ago by popular enough for him to make waste and unhappy at the prospect ceeding 70%. revenues per broker. renowned Yale economist Robert money matching buyers and sellers. of that convention traffic decamp- “There is an awful lot that works Challenged, Mr. Lutnick once Shiller, for instance, allowed people At the same time, he doesn’t want ing to far-off Queens. The tax sup- well about Javits,” said Mr. Jones. again reached for a solution: Open a to make bullish and bearish bets on his new bets to become so popular ports 40-year bonds worth $700 “Some of the finest shows in the new betting table, even if it means residential real estate. The funds that they become “standardized.” million—and hoteliers are incensed world come there.” introducing a game no one has closed after a year for lack of inter- He believes his venture into the about the likelihood of having to pay It is also a self-supporting oper- played before. est. (Mr. Shiller didn’t respond to a commercial real estate market deft- it long after Javits is gone. ation that does not receive state sub- request for comment.) ly avoids that trap. Each rent-pro- “No one wants Javits to go away.It sidies. Its revenues are derived from How rent-protection idea works “Creating a new marketplace tection agreement will be unique,he would be an outrage to spend all that rent and other user fees. Ⅲ At its essence, Mr. Lutnick’s real around commercial real estate could said, tailored to reflect the market in money on the renovation and then to estate venture works like this: A be even harder than in residential be- which companies operate as well as tear it down,” said Mike Stengel, vice LISTEN to a discussion at business has a lease that’s due to ex- cause the number of people who spe- their particular needs. His firm is president for Marriott and Renais- CrainsNewYork.com/podcasts pire in a year or two. The company cialize in it is so much smaller,” said even offering its service for free to calls Newmark, whose brokers ex- John Jay, a senior analyst at consult- drum up business, with the price plore prices for comparable office ing firm Aite Group and a former embedded in the cost of hiring space. Using BGC’s data, they can mortgage-backed securities analyst. Newmark Knight Frank for real es- create what’s effectively an insur- Mr. Lutnick hopes his new mar- tate services. EDC: bigger, better? ance policy so the rent for the ten- ketplace takes off because changes “Even if people don’t end up buy- ant’s next lease won’t exceed a cer- on the regulatory front threaten ac- ing policies from us, we’re going to Continued from Page 3 tain price per square foot, or a tivity at his betting tables, which on get more calls,” Mr. Lutnick said. incentives, primarily to assist small landlord’s rental price won’t fall be- Wall Street are known as the over- “Who doesn’t want more of that?” Ⅲ manufacturers, eliciting promises of job growth rather than handing out tax breaks unconditionally, as was was suddenly inundated with inter- done in the past. ested contractors. The expansion “The city has gone from playing Arts institutions project broke ground last April, economic development defense to which was a long wait, but it allowed playing economic development of- Continued from Page 2 opening a new 22,000-square-foot the museum to raise more money and fense,”said Carl Weisbrod,who was Cultural Affairs said. Those proj- visitors’ center in May, which will increase the scope of the project. the organization’s first president. ects, to which the city is contribut- include a new gift shop and a second “There have been some retention ing $632.7 million, are all at differ- event space that can seat 150 people. Additional costs deals, but for the most part it’s been ent stages. Scot Medbury, president of the Now the Queens Museum exec- a more affirmative economic devel- New York’s arts institutions have Garden, said he expects the shop utives and trustees are working to opment policy,thinking of it in new gone through countless expansions and event space to bring in $600,000 raise additional operating funds to ways.” throughout the years. But arts exec- of additional earned income a year. help offset the new costs of running A once sleepy entity that has its utives say there is more pressure now At the same time, the visitors’ cen- a larger facility for the first three roots in a Lindsay administration than ever to attract crowds and ter will be able to better accommo- years after it opens. bloomberg news agency that ran industrial parks, SETH PINSKY says EDC listens to its critics. boost earned income—espe- The Brooklyn Botanic Gar- the EDC has kicked up its share of cially with further cuts in city den started its $100 million controversy—from Willets Point funding on the docket. Besides capital campaign before the in Queens, where it is threatening more transparent and accountable. the excitement about stunning economic crisis, and has raised to use eminent domain to acquire He’s voted against nearly every sub- new architecture, many of these $80 million. It bid out the proj- property from holdouts, to down- sidy package,issued audits critical of building projects feature ex- ect to contractors in the fall of town Brooklyn, where the planned the agency and said other reviews panded gift shops and restau- 2009, and the prices came in City Point mall has drawn the ire of are on the way. rants that should directly in- 15% under the architect’s pro- residents for displacing shop “In the pursuit of economic de- crease revenue. jections. owners. velopment and job creation, EDC “The competition is increas- “If you have raised most of weiss/manfredi has been vested with far more pow- ing, and not just from other in- WELCOME: Brooklyn Botanic Garden’s visitors’ center. the money already,this is a real- Community opposition er, authority and leverage than it stitutions, but also for time, en- ly good time to build,” Mr. “There was no effort to help ever has been, by a tremendous ergy and money,” said Arnold Medbury said. small businesses that were pushed amount,” Mr. Liu said. He said his Lehman, director of the Brooklyn date the crowds the garden has been Other cultural groups are just as out,” said Lucas Shapiro, senior or- efforts are “about limiting Museum.“We need to make the ex- experiencing. Last year, a record happy not to rush their construction ganizer at Families United for unchecked power.” perience here as enjoyable for some- 725,000 people visited, with 37,000 projects. Renovations on Perfor- Racial and Economic Equality, a Some insiders say the EDC has one as we possibly can.” on one day alone. mance Space 122’s building, which community group that has fought become too demanding in negotia- Though some of these projects are being funded and managed by City Point. “Unfortunately, the way tions, sometimes delaying or killing Bigger gift shop were delayed because of the reces- the city, were supposed to start last EDC has operated is,‘We’ll help fa- deals. Stanford University, the early The Brooklyn Museum, which sion, many arts executives say the summer. Now, because of delays in cilitate developers working their favorite in the applied sciences com- recently had to a cancel a show be- downturn actually helped spur oth- permits and other issues, work is ex- way through the system without petition, dropped out, citing unten- cause it couldn’t raise the funding er projects by lowering construction pected to begin late this summer,and helping,involving or thinking about able demands by the city. The for it, is redesigning its first floor to pricing. And though capital cam- is scheduled to take two years. what the community wants and in- EDC’s effort to remake the garment greatly expand its gift shop, create a paigns have moved more slowly, Vallejo Gantner, artistic director volving them in the process.’ ” district has been stymied for years. destination restaurant and increase donors—and the Bloomberg ad- of the avant-garde performance the- Just last week, South Bronx resi- Some thought its deals to revamp its exhibition space. The shop, ministration—are still interested in ater, said PS 122 is using the time to dents spoke out against a deal to give Coney Island took too long. opening April 4, will have 4,500 funding building projects. raise $2 million to help offset costs FreshDirect nearly $90 million in Mr. Pinsky said the agency has square feet, a 50% jump, and will The Queens Museum originally associated with the renovation, such city subsidies,one of the Bloomberg “done a lot of work building bridges feature work by Brooklyn artists. issued a request for bids in the spring as new equipment and marketing. administration’s largest aid pack- to people who have been historical- The restaurant will debut in the fall, of 2008, but construction companies “We want to make sure we don’t ages. The residents say Fresh- ly critical”and is listening more than will have outdoor seating and will be were so flush with work that the job go into debt in the course of this,” Direct’s Bronx project was negotiat- ever. open in the evenings when the mu- attracted few qualified bidders.After Mr. Gantner said. Ⅲ ed without their input. “It’s not just economic develop- seum is closed. Mr. Lehman de- the global financial meltdown some City Comptroller John Liu has ment policy from up high,” he said, clined to give the cost of the project. months later, when construction had LISTEN to a discussion at consistently pressed the EDC to be “but hearing from the grass roots.”Ⅲ The Brooklyn Botanic Garden is stalled around the city, the museum CrainsNewYork.com/podcasts

February 13, 2012 | Crain’s New York Business | 23 20120213-NEWS--0024-NAT-CCI-CN_-- 2/10/2012 8:01 PM Page 1

in an end-of-year raid for Merrill Mind the pay gap brokers.The milestone means that a New players in Web TV broker who pocketed $1 million last year gets $1.8 million for walking in Continued from Page 1 equal to 62% of the total $13 billion the door at UBS with most,if not all, Continued from Page 4 “Losing customers is scary,” said ment bankers to expect declines of in revenue they generated last year. of his clients’ assets in tow. sion—jumped 23% over the prior- Rebecca Lieb, a media analyst with 25%. That’s 20 percentage points higher Merrill responded,in part,by in- year period.Though the group rep- The Altimeter Group. “But know- But the pain is by no means than the amount of revenue set aside creasing the share of commissions resents less than 5% of households, ing you may not be getting new cus- spread evenly, and one particular to pay people in the firm’s invest- that top-performing brokers collect its viewing habits could be a har- tomers is scarier.” business—retail brokerage—is bare- ment banking and trading division. to 40%,from 30%.That translates to binger. It streamed video twice as Overall, the television industry ly feeling the sting at all. That’s be- Even a determined cost-cutter $400,000 for every $1 million in much as the general population remains healthy,with subscriber fees cause it’s about the only line of Wall like Morgan Stanley Chief Execu- revenue for the firm. “They’d dearly and watched half the amount of tel- and advertising expected to total Street business that didn’t fall off the tive James Gorman admits that love to cut [broker] pay,” Danny evision. $165 billion in 2012, according to table last year. when it comes to pay, brokers are all Sarch, founder of recruiting firm The report raised alarms among PricewaterhouseCoopers. The importance of this line of but untouchable. “We’d like to see Leitner Sarch Consultants, said of analysts who track media companies The adoption of TV Every- business is especially clear at UBS. that come down,” he said in a recent the big banks. “But they can’t.” that depend on viewers paying their where would add $12 billion annu- The bank reported a dismal $1.3 bil- television interview about broker Analysts expect the bidding wars cable bills—and watching the com- ally while protecting the industry lion loss for 2011 due to an employ- pay levels, “but that’s where it is.” will continue, in part because mercials. from online cannibalization, ac- ee in London losing $2.3 billion in growth prospects for retail broker- BTIG Research analyst Richard cording to a recent research note by unauthorized trades, a fiasco that Never-ending battle age look more encouraging than Greenfield strongly advised pro- Needham & Co. analyst Laura sparked a wholesale executive shake- One reason brokers are immune Wall Street’s other lines of business. grammers to embrace the TV Martin. up. But the 6,800 brokers in its retail to pay pressures is that their business For example, Barclays Capital ana- Everywhere model, which makes But that party may not last forev- sales division,UBS Wealth Manage- is dominated by a handful of giant lyst Jason Goldberg estimates that television shows available online, er. A growing number of consumers ment Americas, generated about banks—Merrill, Morgan Stanley, income from BofA’s brokerage and but restricts them to verified sub- are losing patience with rising sub- $550 million in pretax income. UBS and Wells Fargo—that are investment efforts will grow by 6% scribers. scription fees and turning to other The story is much the same at locked in a never-ending battle for next year, compared with a 3% de- Cable operators have lately options. Manhattan-based startup Merrill, which is housed in BofA’s each other’s top people, the elite cline in trading income. been seeing subscriber erosion,just Boxee, which enables users to watch wealth management division. The brokers with more than $100 mil- What’s more, the business in- as growth has slowed for their Web programming on a television unit has generated $4.6 billion in lion in client accounts who generate volves relatively little risk for the satellite- and phone-company ri- via a set-top device, introduced its profits since the bank acquired Mer- north of $1 million in commissions. banks. Apart from pay, the big ex- vals, according to Colin Dixon, a Live TV dongle just in time for the rill three years ago. That has helped These brokers are also prized for penses associated with it are offices, senior partner with TDG Re- Super Bowl. dull the pain caused by tens of bil- their ability to keep clients invested, phones and the occasional multi- search. Mr. Dixon estimates the With the help of an antenna, the lions of dollars’ worth of mortgage- so they generate fees for the firm, million-dollar settlement for giving pay-TV industry lost around $49 attachment adds free, broadcast related losses elsewhere in BofA. even in the most volatile stock and dud advice.“It’s a much less capital- 300,000 subscribers in 2011. channels to the Boxee Box menu of Helping carry their owners bond markets. intensive business than running a But the most worrisome sign Web content and streaming servic- through terribly difficult times The result: Upfront signing trading desk,” said Oppenheimer & may be the growing number of es like Netflix. Last week, the com- means retail brokers enjoy an ex- bonuses, which seldom exceeded Co. analyst Chris Kotowski. Ⅲ young people who grew up watch- pany sold out of the device. traordinary level of clout these days. 100% of a broker’s prior-year com- ing YouTube and Hulu and who Alternatives to traditional pay Consider this: Morgan Stanley’s mission, have gone stratospheric, LISTEN to a discussion at may never subscribe to a pay-TV TV, said Boxee co-founder Avner 17,000 brokers commanded pay reaching 180% at UBS as it engaged CrainsNewYork.com/podcasts service at all. Ronen, “are only going to grow.” Ⅲ Life. Less taxing.

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24 | Crain’s New York Business | February 13, 2012 20120213-NEWS--0025-NAT-CCI-CN_-- 2/10/2012 1:34 PM Page 1

The average5 number of devices in NY households that are connected to the Internet BUSINESS LIVES Source: Time Warner Cable

HOT JOBS EXECUTIVE INBOX Anne Fisher DIRECTOR OF LIBRARY SERVICES AGENCY New York City Say goodbye to Department of Education boring meetings JOB DESCRIPTION Participate in policy decisions; steer planning, HOW MANY MEETINGS will you development and implement- attend this week, or this month? ation of library services and programs in all district schools Possibly dozens: An average manager goes to 61 meetings a MOST IMPORTANT TASK Ensure month, one study found. Yet how city schools fulfill state much do all these confabs really requirements and standards for library systems accomplish? Some estimates put the amount of wasted CREDENTIALS NEEDED State meeting time at about 50%. School District Leader It doesn’t have to be that way, certification or waiver granted by the state Education Department; according to Scott Cullather, state Library Media Specialist founder of InVNT, a Manhattan- certification based firm that produces meetings and events for clients SALARY $111,000-$170,000 from PepsiCo to Genentech. RECRUITER Internal Mr. Cullather, formerly head DOWNSIDE Traveling to schools in of the New York office of event- all five boroughs planning company Williams UPSIDE Improving student Gerard, started InVNT in 2008, learning and literacy just as the market for big The New York City school system business gatherings was headed serves 1.1 million students in more into the dumps. “In a way, than 1,700 schools. economic hardship was good for —HELEN KWONG us. It forced us to adopt a very lean business model,” he said. Now demand for events is picking up. “We engage people EXECUTIVE MOVES WHO’S SIMPATICO? at the client companies to help Christian Rudder us develop content, because we Clear Channel Outdoor describes the want the creative elements to Holdings Inc.: William OkCupid site as a Eccleshare, 56, was “curator” of matches. mesh seamlessly with each promoted to chief meeting’s goals,” he said.

executive at the buck ennis Some of those “creative outdoor advertising elements” have been memor- company. He was GOTHAM GIGS able. InVNT has used singing previously chief flash mobs to spice up a dry executive of Clear Channel International. Courtside Entertainment Group: Bob convention and staged fake Moore, 65, joined as president at the protests to stir up debate. broadcast programming company. He Great, but let’s say you just was previously president and general Aiming Cupid’s Cursor want your ordinary, everyday manager for Citadel stations meetings to produce less hot air KLOS/KABC in Los Angeles. and more results. Mr. Cullather 360i: Sarah Hofstetter, 38, was promoted This Valentine’s Day, some of New York’s celebrating couples will suggested four ways to do that. to president at the digital marketing Sample agency. She was previously senior vice have Cupid to thank—OkCupid, that is. ¶ Christian Rudder is co- First, he said, “I like to quote president, emerging media and brand question: founder, general manager and editorial director of the 9-year-old E.B. White, who said, ‘Make each strategy. free dating site. ¶ OkCupid generates matches based on answers to word tell.’ ” Ted Moudis Associates Inc.: Benjamin Do you Second, it helps to “give each Chan, 47, was promoted to chief questions and how important users say those questions are.They person a specific ‘homework financial officer at the include “Should creationism be taught in public schools?” and “Do assignment,’ so everyone is an architectural and prefer to interior design firm. you prefer to give or receive massages?” ¶ “We don’t advertise it as active participant,” he said. He was previously give or ‘Create your own dating algorithm,’ but that’s what people are A third suggestion: Limit, or controller. doing,” said the 36-year-old from Little Rock, Ark., who eliminate, PowerPoint and other Organic: Rachel receive gadgetry. “You want people Pasqua, 41, joined the moonlights as a guitarist in indie band Bishop Allen. ¶ Mr. Rudder talking to each other, not staring digital marketing massages? previously worked with fellow Harvard alumni on SparkNotes.com, at a screen,” Mr. Cullather said. agency as executive director of its mobile marketing practice. She was which Barnes & Noble bought in 2001. Much of that team went on Last, but not least: Hold fewer previously vice president of mobile to create OkCupid. ¶ Mr. Rudder describes the site as a “curator” of meetings. “The more meetings marketing at iCrossing. people have to go to, the less Metaverse Mod Squad: Jon Paul matches. It connects compatible people who have comparable attention they pay to each one,” Buchmeyer, 43, joined the business attractiveness ratings. Users can view any profile, but OkCupid’s he said. process outsourcer as vice president, organization of matches “lessens the impact of people’s negative digital engagement. He was previously a HOW DO YOU make meetings principal at Tentpole NY. proclivities,” Mr. Rudder said. Members who receive many messages productive? Tell us at www.crains See EXECUTIVE MOVES on Page 26 in a given week are pushed down in search results. —ali elkin newyork. com/execinbox.

February 13, 2012 | Crain’s New York Business | 25 20120213-NEWS--0026-NAT-CCI-CN_-- 2/10/2012 1:35 PM Page 1

RÉSUMÉ REVIEW Design star builds a Haus Is your job search all it could be? We ask the experts. Interior? thought about what people could Expansion, TV and Because the firm was afford. I was not going to sell an NAME VADIM LEYKO new products in store born in 2007,I never had $800 cashmere travel blanket. OBJECTIVE a chance to build my Everything in the store is under To apply for an administrator position for firm’s founder business before the re- $100. PROFESSIONAL EXPERIENCE cession hit. I don’t know what business How much do folks typically Beth Israel Medical Center, Kings BY AMANDA FUNG would have been spend on designing their Highway Division, Jan. 2004-present like in a differ- homes? Manager of respiratory care n December, interior designer ent economic The range varies, but the Responsible for oversight of the respiratory care department: inventory; Nina Freudenberger,founder of climate. typical property we work cost-effectiveness of equipment and supplies; and training, clinical Haus Interior, expanded her re- on is at least $1.5 million. supervision and evaluation of department staff tail operation to Los Angeles How did it People who hire an inte- Jamaica Hospital Medical Center, April 2001-present Iwith the opening of her second store- affect the rior designer set aside Registered respiratory therapist front. She opened her first, a 600- interior-design money and know their Assess patients; manage and wean patients off mechanical ventilation; square-foot Manhattan location, a industry in budget. administer oxygen, aerosol and bronchodilator therapy year ago. Ms. Freudenberger, who general? started her business in 2007, expects I think it impacted the How did you get picked for EDUCATION to add a third industry a lot. Because the reality show? And how Central Michigan University, M.S., health care administration, 2008-10 location, as of the recession,people do you think it will portray Molloy College, B.S., cardio-respiratory science, 1996-2000 well as her own have a need to look for you? LaGuardia Community College, physical therapy assistant major, 1993-96 line of home bargains, and that has I just got a phone call one MOVERS & Résumé appears in condensed form. SHAKERS products. become a reality for day and did a taping. It Born in us. will show the other side of EXPERT ADVICE Munich, the the profession of interior de- Mr. Leyko’s résumé is clear, concise and to the point and needs only Nina 32-year-old Why did you decide to sign: While super-fun and minor modifications. Most often, résumés are too long and overly Freudenberger grew up on open your first shop creative, it involves dragging complex; this one has the opposite problem. It needs to be extended to Long Island amid the recession? 200-pound carpets and mov- two pages and opened up to be easier to read and understand. I would and went to It was my next ing heavy boxes. recommend that the objective be expanded on and be more focused, the Rhode Is- move, and it defi- that a three- to four-sentence executive summary be added and, most land School of Design. She worked nitely surprised a How often do you spruce up your important, that the descriptions of each position be put in a bullet-point as a senior designer at Kondylis De- lot of people. own apartment? format. Those revisions and better organization will make it more user- sign for four years.This summer she Everyone was nervous for Every nine months, my 1,100- friendly for those who will be reviewing it and will present the candidate will be one of four designers to star me because of the eco- newscom square-foot, one-bedroom apart- in a more positive light. in a new HGTV reality series, The nomic climate. People ment on the Upper East Side goes —marc gouran, president, Solomon-Page Healthcare Group Real Designing Women, scheduled to were not shopping. We through an overhaul because my air in Canada. She hopes the show were careful in what style changes. As a designer, you To contact this candidate or to be featured in “Résumé Review,” email us will get picked up in the U.S. we chose to carry in don’t want to get stuck in a specif- at [email protected]. the store. I was super- ic style; you want to constantly How did the recession affect Haus cost-conscious and grow and refine your taste. Ⅲ

of Greystone Associates. Lisa Mantone, 49, joined as vice Perkins Coie: Gary Eisenberg, 47, joined Ford & Harrison: EXECUTIVE MOVES Cooper Square Realty president, development and the law firm as partner. He was David S. Kim, 33, Inc.: Jennifer L. Granda, communications. She was previously previously a partner at Herrick joined the labor and Continued from Page 25 39, was promoted to associate deputy director of external Feinstein. employment law firm E+M Advertising: Jennifer Tarsitano, 40, vice president at the affairs at the Museum of Modern Art. Cadwalader Wickersham & Taft: as an associate. He joined the advertising company as vice residential property AlixPartners: Sean Dowd, 49, was Christopher Cox, 47, joined the law firm was previously an president of business development. She management company. promoted to managing director in the as partner in the corporate department. associate at Jackson was previously vice president and She was previously financial advisory services unit at the He was previously a partner at Cahill Lewis. marketing director at Publicis Groupe’s managing director. global business advisory firm. He was Gordon & Reindel. Loeb & Loeb: Sara A. Digitas unit. Robert Klehammer, 58, previously a director. Peter Isajiw, 37, was promoted to O’Toole, 32, joined the law firm as an Aragon Construction: Joseph Lopardo, 37, was promoted to vice president. He was Eric Dzwonczyk, 42, was promoted to partner. He was previously special associate in the real estate department. was promoted to executive vice previously executive managing director. managing director in the enterprise counsel. She was previously an associate in the president and principal at the general EyesLipsFace Cosmetics: Shawn Haynes, improvement unit. He was previously a Mufson Partnership: Julia Belkin, 39, was transactional real estate group at contracting, construction management 40, joined as vice president of retail sales. director. promoted to partner. She was previously Rosenberg & Estis. and consulting firm. He was previously He was previously senior vice president Frank Sui, 49, joined the firm as a manager of business development. Veria Living: Paul Cestari, 44, joined the senior account executive. of sales at Markwins International. managing director in the financial Morrison & Foerster: Jeffery Bell, 37, was media company as assistant general Rapid Ratings: Jeffrey Gibb, 50, joined the WNET: Caroline Croen, 48, joined the services practice. He was a partner at promoted to partner in the corporate manager and vice president, content independent ratings, research and television station as vice president, chief Credit Builders, which he co-founded. group at the law firm. He was previously and distribution. He was previously analytics firm as senior vice president of financial officer and treasurer. She was Scholastic Parent & Child magazine: an associate. senior vice president, sales and new strategic relations and head of legal previously chief financial officer at Jazz Carolyn Veith Krienke, 41, joined the Todd Goren, 35, was promoted to partner business development, at Eclipse operations. He was previously president at Lincoln Center. parenting magazine as art director. She in the bankruptcy and restructuring Marketing. was previously senior art director at group. He was previously of counsel. Financial Times: Tracy Alloway, 28, was Martha Stewart Weddings. Thomas McGovern, 34, was promoted to promoted to U.S. financial correspondent. CORPORATE LADDER New York Media: Thomas Alberty, 35, partner in the real estate group in the She was previously deputy editor of FT joined the entertainment and media business department. He was previously Alphaville and a London-based capital company as design director. He was an associate. markets correspondent. GETTING THE WORD OUT previously art director at GQ. Remmelt Reigersman, 32, was promoted Vivianne Rodrigues, 39, was promoted to Eastern Consolidated: to partner in the tax department. He was U.S. capital markets reporter. She was SETH OSTER , 42, joined KPMG as chief communications officer. In this role, Alan P.Miller, 49, was previously an associate. previously Latin America bureau chief Mr. Oster will oversee all corporate communications for the audit, tax and promoted to executive Yorkson Legal Inc.: Kenneth Greenwood, for FT Tilt. advisory firm, directing its internal and external managing director at 44, joined the legal staffing and Open Road Integrated Media: Betsy communications activities, strategies and staff. the real estate recruiting firm as senior legal recruiter. Mitchell, 57, joined the digital publisher Most recently, he served in the Obama investment services He was previously president of and multimedia company as strategic administration as a senior appointee at the U.S. firm. He was Greenwood Legal Inc. adviser for science fiction/fantasy Haynes and Boone: Environmental Protection Agency and the agency’s previously a senior Sam Lichtman, 41, publishing. She was previously editor- director. joined the law firm as of counsel in the in-chief for Random House/Del Rey. top communications and public affairs official. Before David Schechtman, 37, was promoted to tax practice group. He was previously tax —callie eidler that, he was executive vice president for global executive managing director. He was counsel at Cahill Gordon & Reindel. communications at the Motion Picture previously a senior director. Fulbright & Jaworski: Ancela R. Nastasi, Association of America. Mr. Oster received a MNS: Adam B. Ginder, 32, joined the 48, joined the law firm as head of the EXECUTIVE PROMOTIONS bachelor of arts degree in communications brokerage, sales and marketing firm as bankruptcy and insolvency practice The fastest way to get an announcement into from George Washington University. general counsel and senior vice president group in New York. She was previously a Crain’s is to submit online. Fill out the form of business development. He was partner at Richards Kibbe & Orbe. at www.crainsnewyork.com/section/ —CALLIE EIDLER previously an associate at Wolf Michael Pikiel, 34, was promoted to executive_moves. The Executive Moves column Haldenstein Adler Freeman & Herz. partner. He was previously senior counsel. is also available online.

26 | Crain’s New York Business | February 13, 2012 20120213-NEWS--0027-NAT-CCI-CN_-- 2/10/2012 1:48 PM Page 1 chemex / INSATIABLE CRITIC Gael Greene from 5:30 p.m. to 7:30 p.m. The cost to flickr.com THE attend is $35 for members or $75 for nonmembers with preregistration; an additional charge of $10 will apply to members and nonmembers who pay at WEEK the door. For more information and to register, visit www.smpsny.org. Making history AHEAD NETWORKING RECEPTION WEDNESDAY, FEBRUARY 22 THE MANHATTAN CHAMBER OF FEB. 20-26 COMMERCE invites you to a networking at Caffè Storico event and business-card exchange hosted by Wells Fargo. Manhattan CONFERENCES

business owners and professionals bloomberg news Historical Society AND SEMINARS will enjoy an evening of informal THURSDAY, FEBRUARY 23 networking over light refreshments. restaurant brings top The Queens Economic Development The event will be held at Wells Fargo WHAT HE’S Corp., in partnership with the Bank, 320 Madison Ave., from 6 p.m. talent, uneven results Neighborhood Entrepreneur Law to 8 p.m. It’s free for chamber members READING Project, invites you to LEARNING and $15 for nonmembers. To get itching a cultural rock BUSINESS CONTRACTS. Corporate more information and to register, Fortune writer Adam Lashinsky to a restaurant rock attorney Drake Tempest will discuss call (212) 473-7875 or visit recently celebrated the publication star isn’t new. different types of business contracts and www.manhattancc.org. of his book Inside Apple: How teach attendees the dos and don’ts of MoMA, for example, America’s Most Admired—and entering into legally binding Pick gets major buzz from agreements. The free workshop will take FRIDAY, FEBRUARY 24, Secretive—Company Really Works. The Modern, by Danny Meyer, of the Now he’s reading about the H catherine gibbons place at Entrepreneur’s Space, 36-46 AND SATURDAY, with Gabriel Kreuther at the range. TANGLE OF FLAVORS: Garganelli pasta 37th St., Long Island City, Queens, FEBRUARY 25 week company he works for. The Man It makes sense, then, that the New- from 6 p.m. to 8 p.m. For more JUST FOOD invites you to its Time Forgot: A Tale of Genius, York Historical Society—the city’s information and to register, 2012 conference, EAT, WORK, GROW Betrayal, and the Creation of Time oldest museum—would move to CAFFÈ STORICO call (212) 263-0546 or visit THE MOVEMENT. The two-day event Magazine, by Isaiah Wilner, tells upgrade its feeding after a $65 mil- 170 Central Park West www.queensny.org/qedc/business/ will offer hands-on workshops, events. discussions, skill-building sessions and how Briton Hadden helped launch lion gussying-up. (212) 485-9211 Time Inc. and how “co-founder www.nyhistory.org/dine great food. Friday will also feature a job Step in, Stephen Starr, Philadel- THURSDAY, FEBRUARY 23 fair. The event will take place at the Henry Luce airbrushed him out,” phia restaurant biggie, with Man- The Society for Marketing Professional Food and Finance High School, 525 said Mr. Lashinsky. “They were very hattan scores already at Buddakan Services presents BUSINESS W. 50th St., from 8:30 a.m. to 7 p.m. forward-thinking about how to and Morimoto.Caffè Storico seems CUISINE Mostly Italian DEVELOPMENT LIVE: BUILDING BUSINESS Friday, and 8 a.m. to 6 p.m. Saturday. write the news. It’s a great book.” almost modest as his newest move. IN FOUR ACTS. This hands-on workshop Tickets are $30 per day or $50 for both PRICE RANGE Pastas, entrées is designed to enhance business days; discounts are available. Tickets to Mr. Lashinsky had less Still, it’s a stunner, with a casual, positive feelings for Catherine the dazzling sunniness.And the kitchen $16 to $29 development skills by engaging the job fair are $15. For the complete Great, by Robert K. Massie. The has its moment: lush buttery burra- SERVING Lunch, dinner, Sunday participants in a team exercise to develop conference lineup and to purchase pitches based on case studies. The tickets, see www.jfconference2012. book depicts “the weird, selfish, ta with artichoke two ways,splendid brunch workshop will take place at the Knoll eventbrite.com. insulated people in the court in minestrone, house-made pastas RESERVATIONS Recommended Showroom, 76 Ninth Ave., 11th floor, —suzanne panara dressed in savory, creative mode. Russia,” Mr. Lashinsky said. NOISE LEVEL Noisy when full —VALERIE BLOCK The uplifted building fairly glows To view Crain’s classified events listings, go to www.crainsnewyork.com/events now on its corner of Central Park I can’t wait to return. West and 77th Street. On entering, my eyes are drawn to the gift shop. I will definitely go back. And then … a sunny yellow aura op- I’ll let them simmer awhile. posite: the airy sweeping space with NO HATS Never again. its open kitchen at the rear. Shiny brass chandeliers dangling from 15- NOMINATE YOUR COMPANY FOR CRAIN’S foot ceilings. A collection of 19th- phone. “Consistency is the biggest 50 FASTEST GROWING COMPANIES century porcelain and Staffordshire challenge,”he says. “The turnover of china on surrounding shelves. staff in the kitchen and dining room Bare white-marble tables are has been constant. But we’re starting pulled up to a 30-foot yellow leather to get there.” banquette, amazingly comfortable. Saturday night,we’re back with a A relay of staff is welcoming,enthu- friend, dipping addictive fennel siastic, quixotic. Alas, delivery from breadsticks into a saucer of olive oil. the kitchen is slow even on an un- The house is packed with what looks crowded Monday. like an Upper West Side posse.I treat But eventually, cicchetti tasting our companion to the scampi fritters plates from the not totally Venetian I loved and a small $6 shrimp-salad menu are crowding our table: mar- sandwich that wouldn’t make it in velous whipped cod (baccala mante- Venice. Nor will acorn squash ever cato) with triangles of fried polenta, replace peach puree in my Bellini,but battered scampi with a ricotta fluff our guest seems charmed by the gam- and pink grapefruit, and decent bit. Service is definitely less erratic. meatballs in tomato sauce. My guy,a fussy pasta lover,seems The octopus (“Beaten into ten- happy enough with lobster-tossed derness by the chef,” our waiter ricotta cavatelli. Chocolate is deftly boasts) is mealy, a few dishes are too muted in the duck ragu on pap- salty, the veal tartare excessively so, pardelle. Our sea bass is perfect— mozzarella in carrozza not cheesy “slightly underdone,” I instructed— HOW FAST ARE YOU? enough. But the minestrone with though salty. Find out by nominating your company for inclusion in Crain’s inaugural pesto crostini is deep and rich. I’m It is almost 11, and the room is list of the 50 fastest-growing companies in the New York area, to be startled and then excited by the lush emptying. We are sharing drunken published on June 25, 2012. tangle of flavors dressing handmade prunes and crème fraîche alongside Even in an economic downturn, New York’s businesses know how to keep pace. New industries like digital media emerge, creating new curls of garganelli pasta: creamy cau- a voluptuous chocolate budino, opportunities, and established companies seek out new markets and devise liflower, pine nuts and a scant hint of melting at the core.Our guest is con- new strategies to stay on top. Crain’s wants to identify the front-runners bottarga (mullet roe). But for every templating the tragedy of leaving a who’ve thrived on the challenge. Will your company make the cut? kitchen score,there’s a miss.Rigatoni third of the budino on the plate ver- APPLY TODAY at www.crainsnewyork.com/fast50 with sausage ragu is good enough. A sus depositing it directly on her hips. NOMINATIONS CLOSE FEBRUARY 24, 2012 breast of chicken is salty and dry. And she is also plotting whom she A veteran of the Starr fiefdom will bring for her next dinner here. conscripted for Manhattan duty,chef Jim Burke, last at Philly’s upscale Copyright © 2012 by Gael Greene. James, is rueful when I reach him by Syndicated by www.insatiable-critic.com.

February 13, 2012 | Crain’s New York Business | 27 CN014939 2/3/12 2:40 PM Page 1

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