Residential Reits Ride the Downturn

Home , 462 Broadway, Fred Wilpon, Gramercy Park, Jim Walden (lawyer)

20111003-A--0001-NAT-CCI-CN_-- 9/30/2011 7:41 PM Page 1

INSIDE GREG DAVID: TOP STORIES WHY SO MANY NY CEOS LOVE Michael Gross tries NJ’S CHRIS to refinance. Good CHRISTIE luck with that, pal ® PAGE 2 PAGE 11

VOL. XXVII, NO. 40 WWW.CRAINSNEWYORK.COM OCTOBER 3-9, 2011 PRICE: $3.00

Gotham’s greatest natural resource? Its immigrant entrepreneurs PAGE 2 The latest challenge PARKING, for downtown B’klyn PAGE 2 It’s a new chapter for Random House LOTS PAGE 3 City’s ancient rules force Henry Kravis wants BY JEREMY SMERD a bigger piece of his developers to overbuild, Avalon Fort Greene, a new 42-story luxury building bankers’ business but reforms could fill near downtown Brooklyn’s mass-transit hub, de- IN THE MARKETS, PAGE 4 votes two stories and 256 parking spaces to one of empty spaces its most elusive residents: the automobile. The building is well-occupied, but the garage is BUSINESS LIVES half-empty.The same is true down the street at 80 DeKalb Ave. Nearly all of the building’s 365 apart- ments are filled, but only half of its 126 parking spaces are leased. “The reason people live at Avalon Fort Greene is to be close to mass transit, not to own a car,” said Fred Harris, senior vice president at developer See PLENTY OF PARKING on Page 24 istockphoto GOTHAM GIGS Can’t sleep? Snoring woes? She can help P. 27 Unions join ● Residential REITs ANNE FISHER Buy criminals’ stuff, fulfill your civic duty P. 27 Occupy ● ride the downturn MOVERS & SHAKERS New York Public Wall Street Library’s new chief P. 28 Cash-rich investment trusts buy, build ● GAEL GREENE Lincoln Ristorante surprises P. 31 in NYC as underfinanced developers lag Left warms hands Avalon and the nation’s other at protesters’ fire to BY AMANDA FUNG largest residential real estate in- INDEX vestment trusts—Equity Residen- bloomberg news advance its causes ZELL’S A-POPPIN’: Sam Zell’s Equity This summer, AvalonBay Com- tial and UDR Inc.—are on a tear in THE INSIDER Residential ended a two-year local buying ______8 munities Inc. began work on the the Big Apple. At a time when hiatus last year with a $475M purchase. BY DANIEL MASSEY NEIGHBORHOOD JOURNAL ______9 site near the High Line in Chelsea most New York developers are un-

VIEWPOINT ______10 where it will erect a towering 691- able to line up financing for new It’s been a tough run lately for local

FOR THE RECORD ______12 unit apartment building. Mean- projects, the big REITs—national got caught in the downturn and unions and left-wing interest while, in downtown Brooklyn, the players with deep pockets and the were forced to sell assets,” said groups. Despite their usual rallies, REAL ESTATE DEALS ______13 company is finalizing plans for ability to refill them by issuing Haendel St. Juste, an analyst at lobbying and advocacy campaigns, CLASSIFIEDS ______20 Avalon Willoughby, an 800-unit publicly traded shares—are ag- Keefe Bruyette & Woods. “Pub- they have failed to get an extension EXECUTIVE MOVES ______27 luxury-rental complex just a few gressively snapping up existing licly traded REITs continued to of the millionaire’s tax and have THE WEEK ON THE WEB ______30 blocks from the 631-unit property properties and building new devel- have a competitive advantage.” been battered by layoffs, budget

THE WEEK AHEAD ______31 in Fort Greene that it leased up opments. The New York City market is cuts and concession bargaining. earlier this year. “Highly leveraged private guys See REITs on Page 23 Meanwhile, a ragtag collection of no-name protesters is generat- ing a media avalanche and worldwide buzz with a leaderless, ad hoc REPORT HEALTH CARE “occupancy” of Wall Street. Prognosis for insurance premiums next year: The city’s experienced agitators ELECTRONIC EDITION have taken notice.They are prepar- 5% to 15% increases. And that’s the good ing to join the Occupy Wall Street protest this week, sensing an op-

NEWSPAPER news. PLUS Top health insurers PAGE 14 See UPSTAGED on Page 26 20111003-A--0002,0003,0007-NAT-CCI-CN_-- 9/30/2011 7:58 PM Page 1

COMMENTARY Driver of NYC biz: i Home loan far from Ace in the hole et’s call the bank that holds my co-op loan Ace.I don’t want to call it by its real name. After all, it holds my co-op loan. In May,I got a call from an Ace loan officer. He said rates were low—under L5%!—and suggested we refinance. I said sure. Little did I know I’d set myself up for a summer in Great Recession banking hell. I warned the loan officer that my income was er-

ratic. As an au- penses. As our thor, I get paid loan officer ex- when I start a plained, Ace had book and again inexplicably be- when it’s finished, gun subtracting and the things them from our take more than a net incomes a year to complete. second time. NEILA GRANZOTI RUDDEN: The No problem, he Which made me Brazil native started a swimwear

said: My wife’s wonder why I line two years after moving here. buck ennis income alone was was getting regu- enough for a re-fi. MICHAEL lar offers from tiful bodies and people who know So in June, GROSS Ace for preap- City mulls how SMALL BUSINESS what a swimsuit should look like,”said Ace took a $395 proved credit 33-year-old Ms. Rudden. application fee cards—and a call to help the 48% funds from her father,a banker in their Her company, which has three from my checking account, from another of its loan sales- native land. full-time and four part-time employ- and my wife and I hurriedly men, suggesting a re-fi. Ap- of owners who Ms. Rudden’s 4½-year-old firm, ees,is on track to more than double its pulled together the necessary parently, someone at Ace diNeila Brazil, is headquartered in revenues this year to $750,000. paperwork—two years of tax thought our credit was good. are foreign-born Manhattan and has a factory in Brazil Ms. Rudden is one of nearly returns for ourselves and our Finally in September in which she holds a stake. It sells its 70,000 foreign-born entrepreneurs in businesses, investment state- (when the rate on conven- BY CARA S. TRAGER brand-name line to 86 shops across the New York City. That represents al- ments and the like. tional loans had dropped to country, including Intermix in New most half of all small business owners We were told we had to 4.25%, even lower than the Just two years after arriving in New York, and produces private-label mer- here—a surprisingly large share that move fast. Although we’ve rate we were seeking), Ace York City, Brazilian-born Neila chandise for chains such as Marshalls. underlines the important role that im- borrowed only about a third of made a counteroffer: a loan Granzoti Rudden started her own “Swimwear is one of the first migrants play in creating jobs and our apartment’s value,it’s still smaller than the one we’d swimwear line. The entrepreneur fi- things we wear in Brazil, and when spurring economic growth. Accord- a sizable loan, and Congress asked for that fell conve- nanced it with her savings and with you think of Brazil,you think of beau- ing to an analysis of U.S. Census data had just declined to extend the niently beneath the new jum- upper limit on what are called bo limit.Neither one of us felt “conforming loans”—those inclined to cough up the cash that Ace can sell off to the fed- to make up the difference. I eral mortgage agencies—in dug in my heels. Give us the über-expensive housing mar- loan we applied for,I insisted, Downtown B’klyn booster’s kets like ours.In other words, or refund that application fee. before Oct. 1, we could have For weeks, the loan officer borrowed $729,750 without and his boss made themselves it being considered a “jumbo” scarce. (Behind the scenes, tenure gets mixed reviews mortgage.As of this past Sat- they later told me,they’d been urday, though, any loan over trying to find out why the goals, though his tenure, which ended Brooklyn since 2006, while the city $625,500 falls into that trap, loan bar kept moving, to no Joseph Chan oversaw last week, was marked by controversy, chipped in $200 million for new infra- making it harder to get, and avail.) Finally, I found the retail, residential budget woes and turf battles. structure. Meanwhile, since 2000, the meaning that living the name of the capo di tutti capi “He wasn’t walking on water; he number of residents has exploded to glamorous New York life is of Ace home loans and wrote boom, but was a wasn’t Jesus Christ,” said Alan Fish- more than 12,000 from 400. more expensive. to him.An Ace employee had polarizing presence man,head of Meridian Capital Group A patchwork of business organ- By July,we sensed trouble. told me to use two magic and co-chair of the partnership’s izations and councils operated in si- We learned that Ace’s under- words—“executive com- board. “But Joe possessed a maniacal los prior to the partnership’s found- writers were insisting that we plaint”—and ask to file one. I BY SHANE DIXON KAVANAUGH focus,a precise sense of deal-making.” ing, and the area’s heavyweight hadn’t gotten our application did. In less than a week, our developers lacked a holistic vision for in on time, although we had. application fee was refunded. Joseph Chan’s arrival five years ago as High-rises spring up downtown. Then they said my income Not quite a happy ending. president of the new Downtown Mr.Chan’s supporters point to un- “None of us had a big enough stake was erratic: I’d made more But at least Ace thinks we can Brooklyn Partnership was heralded as precedented retail and residential in it,” said Bruce Ratner, whose money in 2009 (when I got still afford our old loan, with the start of something big for the city’s growth in the area, despite the reces- MetroTech complex was built with a paid for two books) than in its higher interest rate and third-largest—yet underachieving— sion that struck halfway through his fortress-like design during the high- 2008 or 2010,when I was do- higher payments. Otherwise, business district. With backing from tenure. Luxury high-rises sprang up crime 1980s. But Mr. Chan rallied ing more writing than earn- we might have to sell our the Bloomberg administration and the along Flatbush Avenue. Clothing gi- stakeholders and “suddenly, we were ing. Had my income re- home—if, that is, we could borough’s biggest corporations, Mr. ant Aéropostale opened at the low- all speaking with one voice.” mained steady, even at the find a buyer who passes Chan was expected to unify the local slung Fulton Street Mall, and Gap, But for some, Mr. Chan, a protégé lower level,that wouldn’t have muster at the bank. business groups, boost commerce on H&M, Filene’s Basement and Shake of former Deputy Mayor Daniel Doc- raised red flags. Go figure. government-dominated blocks and Shack are in line to follow. toroff, was a polarizing presence who Then there were our in- LISTEN to a discussion at attract buzz-worthy tenants. All told, private investors have favored big developers over small busi- come-tax deductions for ex- CrainsNewYork.com/podcasts Mr. Chan largely achieved these pumped $3.4 billion into downtown See CHAN’S LEGACY on Page 25

2 | Crain’s New York Business | October 3, 2011 20111003-A--0002,0003,0007-NAT-CCI-CN_-- 9/30/2011 7:58 PM Page 2

AT DEADLINE imported expertise Bids in for Willets Point

ing that expand their presence. Two of the area’s most powerful developers and SUMMIT KUMAR: “There are some cultures with genera- a real estate firm controlled by the owners of His phone service tions of experience in starting businesses,” the Mets are among the firms that submitted company had observed Jonathan Bowles, executive di- proposals for the right to redevelop Willets nearly $5 million in rector of the Center for an Urban Future. Point, real estate and political sources said. revenue last year. The Manhattan-based think tank did a The Related Companies has teamed up with study, based on the 2000 U.S. Census, Sterling Equities, which is controlled by Mets which found that Syrians have the highest owners Fred Wilpon and Saul Katz, to submit a rate of self-employment in the city:27.9%. proposal to redevelop the 12.75 acres included in the project’s first phase, the sources said. Family, culture, personality Silverstein Properties, which is building three Some immigrant entrepreneurs arrive towers at the World Trade Center site, also with the advantages of an education and fi- threw its hat into the ring. None of the firms nancial resources, as Ms. Rudden did, would comment. A real estate source said while some venture into business owner- Sterling had teamed up on bids with more than ship on a wing and a prayer. Those inter- one firm. viewed by Crain’s chalk up their decision to The Queens-based Times Ledger reported work for themselves to a combination of last month that Flushing-based TDC family and culture and even personal traits. Development also made a bid. “It’s part of my personality. I like to do City officials would not say how many my own thing, and I came from an entre- proposals they received by last month’s

buck ennis preneurial family,” said Ms. Rudden, tick- deadline, but indicated they were satisfied with ing off a list of self-employed relatives— the quantity and quality of the submissions. by the Fiscal Policy Institute, due to be re- neurs and foreign students graduating from including her father,who owns a bank,and Twenty-nine firms were eligible to submit bids, leased this week, foreign-born individuals U.S. universities with technology degrees. one of her uncles, a dentist. based on an earlier qualifying round. Among account for 48% of the city’s incorporated But even now,immigrants from all over Nationwide, foreign-born individuals those firms, the Westfield Group, the Richman small business owners while making up the world are settling here and setting up are starting their own businesses at more Group of New York, Edward J. Minskoff 36% of the Big Apple’s population. shop.According to the analysis of the Cen- than twice the rate of native-born Ameri- Equities and Hamlin Ventures confirmed they New York has long recognized the crit- sus data, these entrepreneurs cans, says Foulis Peacock, did not submit bids. ical contribution that the newest members are an exceptionally diverse founder and president of “After receiving multiple responses for the of our society make to the city’s growth and lot. No single country of ori- Immigrants Immpreneur.com. The 5- first phase of development, we are another step prosperity. Both the Bloomberg adminis- gin dominates, though Chi- month-old website, based in closer to the new Willets Point,” a tration and the business community place na, the Dominican Republic are risk- Califon, N.J., is targeted to spokeswoman for the city’s Economic federal immigration reform atop their pol- and Korea account for the foreign-born entrepreneurs Development Corp. said. icy agendas, in the hope of making it easi- largest shares of foreign- takers by throughout the country. —daniel massey er for foreign-born talent to immigrate and born business owners. “These [entrepreneurial] settle here. The data also show some- definition immigrants are adventurous thing that most New Yorkers and risk-takers,” said Mr. Wanted: smarter immigration policies have long noticed: People of Peacock, who emigrated BY THE NUMBERS “We do not have an immigration poli- the same ethnicity tend to from the United Kingdom cy that recognizes the enormous value of congregate in particular in- two decades ago. Weekly shift of the city’s economy immigrants,” said Kathryn Wylde, CEO dustries. For instance, 31% Immigrants here are rep- NOT DEAD YET Economic growth beat earlier of the Partnership for New York City. of Greek-owned small businesses are in resented across the spectrum of business, estimates. Claims for jobless benefits dipped, She noted that legislation that specifi- construction, while 29% of Indian and ranging from construction to real estate é and Europeans actually made progress plugging cally encourages more immigrants inter- 28% of Korean entrepreneurs are involved and insurance, according to the FPI data, the holes in the euro. ested in opening businesses to settle in the in retail, according to the FPI. Experts which covers individuals living in New United States has been languishing in have long speculated that once a group es- York City whose incorporated businesses $72.31 4.1% 44.2% Washington for years. Sometimes called tablishes a beachhead in a particular field, are located in the metro area. AVERAGE forecast RISE in flights JUMP in 2Q NYC the Startup Act,the measure would ease ac- formal and informal networks of their But they’re underrepresented in the in- Halloween through NYC’s four personal cess to green cards for foreign entrepre- countrymen provide guidance and financ- See IMMIGRANT on Page 7 spending per area airports in income-tax person, up 9% July vs. a year collections, to from 2010 earlier total of $1.54B Source: National Source: Port Source: NYS Retail Federation Authority of NY & NJ comptroller LOOKING AHEAD: Under CEO Markus FIRMER FOOTINGS The number of Chapters 7 and 11 Dohle, Random Publisher’s new bankruptcy filings in New York City continued to decline, House is learning though at a slower pace, in August 2011. to market directly to consumers. (growth) chapter and soon faced both the e-book ex- German engineering plosion and a worldwide recession. gives Random House His job would require him to turn around the world’s largest trade its most profitable book publisher, which had been essentially leaderless ever since its for- first half in years mer chief fell ill the previous year. Two restructurings and hun- ADDICTED TO NUMBERS? BY MATTHEW FLAMM dreds of layoffs later, the division of GET A DAILY DOSE AT @STATSANDTHECITY media giant Bertelsmann AG re- CORRECTION Like many publishers, Random cently reported its most profitable House Inc. is smaller than it used to first half in years. Cost cuts played a Tom Morrissy is executive vice president of client solutions at be. In fact, as of last month, it’s al- role, as did an unusual run of best- Synaptic Digital. His name was misspelled in the Sept. 19 story most half its former size—going by sellers,including Stieg Larsson’s The “Echoes of 2008.” the number of floors the publisher Girl Who Kicked the Hornet’s Nest, vol. xxvii, no. 40, october 3, 2011—Crain’s New York Business (issn 8756-789x) is published weekly, except for double issues the weeks of occupies in its midtown building. Laura Hillenbrand’s Unbroken and July Fourth, Labor Day and Christmas, by Crain Communications But under Chief Executive former President George W. Bush’s Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid at Markus Dohle, Random House is memoir, Decision Points. New York, N.Y., and additional mailing offices. Postmaster: Send address changes to: Crain’s New York Business, Circulation Depart- also a lot more profitable. Overall, however, observers ment, 1155 Gratiot Avenue, Detroit, MI 48207-2912. for subscriber A former Bertelsmann printing credit Mr. Dohle with turning a 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) division chief with no book publish- lumbering behemoth into a compa- ©Entire contents copyright 2011 by Crain Communications Inc. ing experience,Mr.Dohle arrived in ny on the leading edge of trade book All rights reserved. New York from Germany in 2008 See RANDOM HOUSE on Page 25

October 3, 2011 | Crain’s New York Business | 3 20111003-A--0004-NAT-CCI-CN_-- 9/30/2011 12:37 PM Page 1

IN THE MARKETS by Aaron Elstein

Why KKR is looking more and more like an investment bank these days s the A leg- endary Henry Kravis took the stage last week for a rare

bloomberg news public appearance, he got a friendly pat on the back from Jimmy Lee, a senior JPMorgan Chase banker who has lent the leveraged-buyout king billions over the years to finance his many deals. But relations between the two Wall Street powers may not be so cordial in the future as Mr. Kravis’ firm, Kohlberg Kravis Roberts & Co., starts treading on the turf of JPMorgan and other big banks.

KKR is beginning to drift them when the buyout business away—management would proba- picks up again. But by focusing on a bly say “diversify”—from its long- few key areas, KKR is beginning to time core business of taking compa- resemble the old Bear Stearns,which, nies private, larding them with lots as fate would have it, is where Mr. of debt, making them run better Kravis worked before starting his (one hopes), and then selling them firm 35 years ago. back to the public. The buyout firm KKR’s decision to compete is gradually turning into something against its lenders is driven by the resembling an investment bank. fact that it became a publicly traded Last year, KKR hired a group of company last year and needs new proprietary traders from Goldman revenue sources to carry it through Sachs to help launch its first equity times when its bedrock buyout busi- trading desk.It is also getting into the ness is quiet—like now. business of providing financing to Indeed, Mr. Kravis candidly ad- smaller companies that can’t get the mitted that it’s tougher even for the attention of big banks and has creat- mighty KKR to line up LBO fi- ed a capital markets business that un- nancing nowadays.For example,the derwrites stock and bond offerings. firm’s total cost of capital to acquire “These are all natural extensions Del Monte Foods for $5.7 billion in of KKR’s business,” Mr. Kravis said late 2010 was 5.5%, he said. In last week at a conference called the April, when it struck a deal to buy a Bloomberg Dealmakers Summit. subsidiary of Pfizer for $2.4 billion, Maybe so. They’re also the sorts the cost had risen to about 6.9%— of things banks like JPMorgan have and would cost more than 9% now. done for years without competition And what do banks think about from important clients like KKR. KKR infringing on their business? The buyout firm’s investment bank- They don’t like it, but they have to ing operations are relatively small live with it because Mr. Kravis and and at least for now don’t represent his firm can be a valuable client.“It’s a big competitive threat to big glob- the price of doing business with al banks—a wise choice, consider- KKR,” said an investment banking ing it needs to borrow money from chief at a major bank.

At Sterling National Bank, we understand the needs and demands of business owners like Ellen. This understanding has helped us build long-term relationships that have spanned years, even Hands off tainty.) But Mr. Hands man- decades. If you’re looking for a more responsive and professional banking relationship, isn’t it aged to perk things up a bit at Last week’s Bloomberg the last minute, however, time you switched to Sterling? event also featured a panel when, to refute talk that pri- whose speakers included vate equity investors are merely Dedicated Client Management Teams the British private equity “asset strippers,” he insisted he’s Big Bank Products, Small Bank Attention executive Guy Hands.He and his spending big to improve his compa- fellow panelists devoted 30 som- nies. His evidence: His firm recent- 80 Years of Getting It Right nambulant minutes to their ly spent 60 million euros fixing up thoughts on our dismal present and roadside toilets in Germany. To ﬁ nd out more about Ellen’s story, predictions for our unknowable fu- So the next time you get off the visit SterlingNationalBank.com/stories ture. (Their bold consensus: The autobahn to use the restroom, think economy is riddled with, yes, uncer- about private equity. n

DECLINE IN GOLD PRICES since Sept. 5. The metal was on track 15% late last week for its worst monthly drop since October 2008. By Ellen H. Aschendorf the way, the S&P 500 has been almost exactly flat since Sept. 5. Egg Electric CN014664 9/23/11 4:24 PM Page 1

Internet | Phone | Cable TV | Ethernet

Servers, phone systems, Internet connections and endless amounts of data. Your company’s network is always moving, and nothing gets past you. So you chose to work with a communications provider you can depend on. One that provides reliable solutions that keep your company running like the well-oiled machine you maintained it to be. Time Warner Cable Business Class. You ﬁrst. The technology follows.

TWCBC.COM | 1.866.TWC.4BIZ

Some restrictions apply. Time Warner Cable Business Class is a trademark of Time Warner Inc. Used under license. ©2011 Time Warner Cable. All rights reserved. 20111003-A--0006-NAT-CCI-CN_-- 9/30/2011 5:53 PM Page 1

JOIN CRAIN’S NEW YORK,NEW YORK ADVISORY edited by Valerie Block PANEL This week’s sign of the inevitable collapse of cable TV as you know it Manhattan-based startup will Asoon launch a subscription service Looking for readers to share that will make five television channels—including CNBC, Bloomberg views and opinions. TV and MSNBC—available for viewing right on the user’s computer. ¶ Radix TV Inc., which will launch its RTV service Oct. 19, is targeting business and financial pros with a global news package that the company hopes will feature 10 channels by the end of the year.The startup is in talks with “other major 24-hour news channels,” said co- founder and CEO Bhupender Kaul, a former executive at Time Warner Cable. ¶ “We are Sign up for FREE today. targeting people in the business community who are looking for real-time news,” Mr. Kaul said, adding that in recent years viewers have gotten used to watching television www.crainsnewyork.com/advisory programming on their computers. “Five years ago, you got all your video from your TV. Now [viewing] is multiplatform.” ¶ RTV will have an introductory price of $14.99 per CRAIN’S NEW YORK BUSINESS month. ¶ Traditionally, cable news channels have offered only clips on their websites, so as not to compete with the multichannel operators that pay millions of dollars for their programming. (Bloomberg has been an exception; it already offers 24-hour live streaming from its website.) ¶ Time Warner Cable, for one, isn’t openly worried: “We continue to deliver the most value for the price,” a spokesman said. —matthew flamm

Hotels hopping “The Ravel is using the program to help guests better on the bicycle explore Long Island City, instead bandwagon of using the hotel as a stopgap to Manhattan,” said Emilia Crotty, The Ravel hotel in Long Island education operations director for City, Queens, just purchased six Bike New York.The group is Need Business Leads? bikes to rent to its guests and is gearing up for the city’s Bike Share NEW POWER PLAYER IN TOWN encouraging them to stop at some program next year, which will dozen local merchants that will bring 10,000 new bikes here—and A HYDROGEN-HYBRID YACHT is give them a 10% discount. “If this drive the bike lane critics mad. arriving in New York City waters takes off, we’ll purchase more —lisa fickenscher next month—and its owner, bikes,” said Ravel owner Ravi Patel, Hornblower New York, says it’s who invested about $1,500 in the the first commercial vessel of its equipment. Seems there really kind in North America. The 600- Located by the Ed Koch are good sports on passenger yacht, which will take Queensborough Bridge, the Ravel people on sightseeing and din- worked with nonprofit group Bike Wall St., after all ner cruises, boasts hydrogen New York to train its staff on fuel cells, solar panels, wind tur- safety issues and provide the hotel If betting on football games or bines and even windows made with a customized map of nearby poker hands is your kind of fun, out of recycled glass. bike lanes. check this out: Soon, you’ll be able place wagers on the —LISA FICKENSCHER performance of some of the most incorrigible money donated to Memorial gamblers of all— Sloan-Kettering Cancer Center. Wall Street traders. Event organizer Dave Maloney On Oct. 22, at says 142 traders have signed up so Columbia far, raising about $130,000.They University’s Wien include Brian Williams,34,a Stadium in upper commodities trader at Jefferies Manhattan, scores and a former captain of the of amateur jocks Villanova University soccer team. from places like Mr. Williams says the event is an Add Crain's wealth of information to your database. Goldman Sachs and opportunity to honor his mother, Sort. Merge. Mail. Prospect. Over 40 unique lists. Merrill Lynch will who died of lung cancer two years Nearly 3,000 records. Put New York's top business gregory goode gregory face off in a ago, and to battle against some of executives in the palm of your hand. decathlon-like series the people he deals with every day Purchase Crain’s Business Lists today at A handful of other hotels in of 400-meter dashes, weight- in another forum. “It’s a good crainsnewyork.com/lists. the city offer bikes to their guests, lifting contests and other way,” he said, “to take the including The Bowery (pictured Olympic-style events.To add competitive juices you get flowing above), Gansevoort Meatpacking, some zing to things, the public on the trading floor and use them Maritime and Jane, which started can wager on the outcomes at on the field.” this year. www.thedecathlon.org, with the —aaron elstein

6 | Crain’s New York Business | October 3, 2011 20111003-A--0002,0003,0007-NAT-CCI-CN_-- 9/30/2011 7:59 PM Page 3

INDUSTRIAL AS AMERICAN AS BIG APPLE PIE EVOLUTIONS Immigrant startups Slicing the universe of nearly 140,000 small business owners in NYC. It’s no revelation that immigrant t 48% of small business owners in NYC

business owners often concentrate are foreign-born.

in specific sectors. What may be Continued from Page 3 migrants navigate a similar path to . surprising is where people from dustries that have the highest barri- success. During the summer, for in- different countries gravitate. For ers to entry: finance, management stance, the Department of Small 48% instance: 31% of Greek-owned small

and professional services,and infor- Business Services began offering t 22% of small business owners in

businesses are in construction. mation technology and, conversely, free NYC Business Solutions cours- . NYC hail from these 10 countries: See below for more examples, plus overrepresented in construction and es in Chinese, Korean, Spanish and each industry’s share of all New 22% China, Dominican Republic, retail. About 9% of immigrant- Russian. York City businesses. Korea, India, Italy, Greece, owned businesses here are in the ed- The city’s Economic Develop- Colombia, Former Soviet Union, n CONSTRUCTION ucational, health and social services ment Corp., along with Deutsche Israel* and Jamaica Greece (31%) fields; that’s about equal to the per- Bank Americas Foundation and Data are for individuals living in New York City who have an incorporated business in metro New York. *Includes India (19%) centage of all local small business- Baruch College, last week an- Palestinian territories. Colombia (18%) es—whether foreign- or native- nounced the five finalists in a compe- Source: Fiscal Policy Institute analysis of U.S. Census Bureau’s 2005-09 American Community Survey All NYC businesses (9%) owned—in those sectors. tition that generated proposals to aid Russian-born Eugene Orloff immigrant entrepreneurs. In addi- n RETAIL and his brother Michael parlayed tion,partnering with the City Coun- lenge to reach them. making his mark in the telecommu- India (29%) their expertise in eye care—Eugene, cil and the National Association for According to the FPI’s analysis, nications industry. His 7-year-old Korea (28%) 43, is an optometrist, and Michael, the Specialty Food Trade, EDC or- Chinese immigrants represent the company, Summit Telecom in Jack- China (22%) 50, is an optician—into a mini- ganized an Oct.24 expo to showcase largest entrepreneurial group, ac- son Heights, Queens, has eight em- All NYC businesses (13%) chain called Vistasite Eye Care, local immigrant-owned food man- counting for 9% of the city’s foreign- ployees.It generated revenue of $4.8 n EDUCATION, HEALTH AND launched in 2006. The 16-employ- ufacturers and connect them with born small business owners. Do- million last year by buying phone SOCIAL SERVICES ee firm, which generates more than customers across the country.” minicans and Koreans tie for second minutes from giant U.S. telecom Dominican Republic (22%) $700,000 a year in revenues, has lo- place,each representing 7%,and In- companies, such as AT&T and Former Soviet Union (19%) cations in northern Manhattan and Language, cultural barriers dians account for 4%. Those from Sprint, and reselling them to inter- Jamaica (13%) in Co-op City in the Bronx; a “It’s sometimes difficult for im- Italy, Greece, Colombia, the former national phone card businesses. All NYC businesses (10%) Brooklyn site is slated to open in migrants to plug into the wider and Soviet Union, Israel (including Echoing the entrepreneurial January. larger marketplace,” said Seth Pin- Palestinian territories) and Jamaica spirit that fuels immigrants’ plunge n ENTERTAINMENT, “Our father didn’t understand sky, president of EDC, noting that each command 3%. into self-employment, Mr. Kumar, ACCOMMODATIONS AND FOOD SERVICES why we were starting our own and foreign-born owners of mom-and- “Together, the top 10 countries 34, said: “I never saw a 9-to-5 job in Italy (23%) not going to work for Cohen’s Op- pop firms and small manufacturing [of origin] still account for less than my life. My father, brother and tical,” Eugene Orloff said. “But in companies face language and cul- half of immigrant small business cousins all went into their own busi- Greece (21%) Ⅲ China (19%) Russia,even if you had the entrepre- tural barriers that prevent them owners in the city,” said David ness. It’s my family background.” All NYC businesses (11%) neurial spirit, you couldn’t com- from “broadening their horizons.” Dyssegaard Kallick, an FPI senior pletely fulfill it because everything Since no one group of immigrant fellow and director of the institute’s To sign up for Crain’s Data are for individuals living in New York City was state-owned, and I had an un- business owners dominates in the Immigration Research Initiative. who have an incorporated business in metro New SMALL BUSINESS newsletter, go to York. Source: Fiscal Policy Institute. fulfilled need to do something.” New York area, the diversity of cul- Summit Kumar, who moved to www.crainsnewyork.com/smallbiz. The city seeks to help other im- tures and languages makes it a chal- the U.S. from India 15 years ago, is

3835 Conflans Rd, Irving, TX, United States

October 3, 2011 | Crain’s New York Business | 7 20111003-A--0008-NAT-CCI-CN_-- 9/30/2011 5:54 PM Page 1

has helped spearhead the state’s high-tech strategy. Similarly, technology equipment suppliers SETTING SAIL Port chief departing THE INSIDER such as Applied Materials or Lam PORT AUTHORITY EXECUTIVE Director Christopher Ward, Research might bring who let it be known last week that he would leave his post by Jeremy Smerd and Shane Dixon Kavanaugh manufacturing jobs southward. this month, is regarded as a talented technocrat who “The ripple effect would mastered the many moving parts at his sprawling bistate basically move into the city,” Mr. agency. But his impending departure, revealed last week, is Kaloyeros said. a reminder that performance alone is insufficient to survive Assembly Speaker Sheldon Silver a change in administrations. has for years courted tech companies Christopher Ward “It is truly unfortunate for all that Chris is leaving just so and could soon reel one in. the governor could have his own person in the job,” said Ripple effect could Attracting such industry titans one industry leader. “There is no one who can match what Chris brought to would dovetail with the Bloomberg the table in terms of knowledge of the Port’s finances, operations or administration’s plans for a new construction. He accomplished more than any executive director in recent engineering campus. Schools are bring tech to city memory.” readying proposals, with Stanford A number of potential candidates are being floated to replace Mr. Ward. University and Cornell University seen as the front-runners. Gov. Andrew Cuomo’s deputy secretary for economic development, Patrick “I would expect that at some Foye, has expressed interest. Others include Charles Maikish, former head point, an engineering campus will of the Lower Manhattan Construction Command Center and a Port Authority become a part of our ecosystem,” alumnus; Silverstein Properties executive Janno Lieber, who was a deputy in said Mr. Kaloyeros. the U.S. Department of Transportation; and Sharon Greenberger, the city Department of Education’s chief operating officer and former School Construction Authority head. Subsidies? An executive director should have management experience, be a strong advocate for the region, have Cuomo’s confidence and push back against Oh, those … New Jersey Gov. Chris Christie if need be, said Richard Anderson, In a weekly radio address, Mayor president of the New York Building Congress. “But I don’t think there is Michael Bloomberg said Pearson plc is necessarily such a person.” bringing 600 high-paying jobs to Administration insiders made clear after Mr. Cuomo took office in January the city because talented workers that Mr. Ward was being retained only to ensure that the World Trade Center

newscom are drawn to the city’s “safe streets, site would be ready for the 10th anniversary of the Sept. 11 attacks. The ov. Andrew Cuomo’s announcement last week good schools, beautiful parks and implication was that after the ceremonies, Mr. Cuomo would bring in a new exciting cultural activities.” He director. that a handful of high-tech companies will pour didn’t mention $50 million in city Nonetheless, Mr. Ward harbored hopes of staying. Soliciting media and $4.4 billion into computer-chip research upstate as-of-right subsidies, which public support, he raised his profile. It was not a move that a governor bent may also signal success for the city’s tech-sector Pearson qualified for by moving on replacing someone would appreciate. jobs downtown. growth plan. In August, Mr. Ward encountered a headwind: He found himself proposing Bettina Damiani, project director a 50% increase of the agency’s tunnel and bridge tolls that he knew the two The substantial investment in research and development of subsidy watchdog Good Jobs governors would oppose. Sure enough, the governors assailed the increases G New York, said the city should have makes it more likely that companies such as IBM, Intel or and cut them in half. announced the subsidies and Cementing the message that Mr. Ward was a marked man, tabloid stories Samsung would site corporate headquarters downstate, explained how the unemployed began blaming him for rising trade center costs, though he had crafted the according to Alain Kaloyeros, chief executive of SUNY- would benefit. “More attention project’s first honest budget and timetable and got construction moving. Albany’s College of Nanoscale Science and Engineering, who needs to be spent on securing bloomberg news

good-paying jobs for New Yorkers feathers last week by telling Put on your game face, grab your thinking cap and get that need them, not catering to the Reuters, “Bike lanes are a bottom line of incredibly wealthy wonderful idea, and people ready to flex your mental muscles for a great cause! firms,” she said. certainly enjoy them, but right now Economists say high-salary jobs what people need are jobs. ... For Be New York’s smartest team at the create work for others. most big cities, bikes are not a practical way for people to move.” Asked about his remarks, which Beyond the were in response to Chicago Mayor Boathouse Rahm Emanuel’s push for a bike- share program and 100 miles of The Hotel and Motel Trades protected bike paths, Mr. Walden Council’s victory for workers at the emailed, “We are spending a lot of Central Park Boathouse gives the money building lanes that few union leverage as it gears up to people use when we are making negotiate a new contract with more really tough choices about cutting Honoring than 100 New York City hotels, insiders education and social-benefit Donna Speciale believe. “Ignoring them at the programs that give access to food, Boathouse was impossible,” one health care and job training.” President, Investment & observer said. “They ran a full- But a Bloomberg administration court campaign that applied spokesman called Mr. Walden’s Activation and Agency Operations, immense political pressure.” remarks “laughable” because the Gotham Hall MediaVest USA The council’s six-year contract lanes’ cost barely registers in the with the hotels expires June 30, city budget. 1356 Broadway, NYC 2012. A spokesman for the Hotel “We spent about $800,000 of Business Attire Monday, October 17, 2011 Association of New York City city money on bike lanes last year,” Cocktails: 6 p.m. declined to comment. he said, “and $44 billion on everything else.” n Dinner and competition: 7 p.m. On Walden’s pond, bike lanes sink Tickets are $1,000; tables begin at $10,000. Jim Walden, the attorney who irked bicycling advocates and the Call 212-453-3208 or visit www.MSnyc.org Bloomberg administration by suing to remove a bike lane next to

for more information. Prospect Park, ruffled more newscom

Proceeds to benefit the NYC – Southern NY Chapter of the National MS Society For daily political and government news, subscribe to CRAIN’S INSIDER @ www.crainsnewyork.com/insider

8 | Crain’s New York Business | October 3, 2011 20111003-A--0009-NAT-CCI-CN_-- 9/29/2011 7:42 PM Page 1

NEIGHBORHOOD JOURNAL

would be designated as low-income Progress trumps parking in the Bronx housing, which does not carry a parking requirement. Fernando Tirado, head of the their cars on their fire escapes?” In fact, the Bainbridge Avenue/E. 204th Street Norwood rezoning asked resident Lesli Cutler in an space crunch got Merchants Group and district man- delivers development, angry post to the Norwood News so bad that two ager of CB7, is encouraging resi- website. years ago, he lob- dents to take a longer view. but at cost some area Bronx residents generally wel- bied the city to drivers find too high come economic investment,accord- amend alternate- Getting used to prosperity ing to Tony Perez Cassino, former side parking regu- “Everybody should get used to chairman of neighboring Commu- lations in order to the notion that Webster Avenue is BY HILARY POTKEWITZ nity Board 8. But hands off their spare drivers the going to be a thriving area that will parking spots. pain of hunting WORTH THEIR WEIGHT offer more than just parking,”he said. p in the Norwood sec- “Listen, I love seeing investment for spaces.As a re- IN GOLD: Rare open spots “Let’s transform this neighborhood tion of the Bronx,local in the Bronx, since I lived through a sult,motorists have along Webster Avenue into something dynamic, something politicians hailed this time when there wasn’t a dime be- to move their ve- that can fly.Webster Avenue was not spring’s rezoning of ing spent here,” said Mr. Cassino, hicles only twice a intended as a parking lot.” Webster Avenue to al- who grew up in the area covered by week rather than Mr. Weiss sees his project as part Ulow midrise residential and retail four times. several new parking lots that will of- of the transformation. development.They predicted that it Now, many worry that Webster fer enough spaces for anyone who “We think we’re building a prod- would bring fresh investment to the ‘Are car owners Commons, the moderate-income wants to have daily or monthly uct here that is very in-tune with the mile-long commercial strip, which housing project under way at 3360 arrangements with the lot operators. neighborhood,” he said. is littered with auto-body shops and supposed to Webster, is upsetting the balance. That’s cold comfort for Nor- In fact,the project sailed through vacant lots. The developer concedes that the wood residents accustomed to free the city approval process with wide- They got their wish. In June, park their cars project has adversely impacted parking. They’ve been further in- spread support from local leaders, ground was broken for a big residen- parking, but insists that the disrup- convenienced since July, when the including Bronx Borough President tial development at 3360 Webster on fire escapes?’ tion will be short-lived. New York Botanical Garden started Ruben Diaz Jr., whose office con- Ave., and another project some two construction on a garage another tributed about $840,000 in capital blocks south at 3160 Webster awaits Enough for everybody few blocks south, at the corner of funding. final approval. “We own and operate these Webster Avenue and Bedford Park But that doesn’t appease Bronx- And just like that, much of the buildings after we build them, so it Boulevard. It’s temporarily ob- ites who, like their fellow citizens neighborhood’s primo street park- Community Board 7, where much is in our best interest to provide ad- structing about 40 spaces. all around town, view parking as ing vanished as construction equip- of the rezoned strip lies. “But it’s a equate parking,” said Eli Weiss, fi- Some people fear that when the precious. ment rolled in. double-edged sword. There’s no nance director of Jackson Develop- pending project at 3160 Webster re- “People are obsessed with it, and “All the on-street parking spots master plan, which means that very ment, the lead developer of the ceives state tax credit approval, ex- I don’t blame them,” said CB8’s Mr. are gone. Are car owners in this little thought is given to issues like four-building, 430-unit complex. pected this fall, parking will plum- Cassino.“Your parking schedule can neighborhood supposed to park parking.” He notes that the project includes met further. That 60-unit building dictate your whole life.”

October 3, 2011 | Crain’s New York Business | 9 20111003-A--0010-NAT-CCI-CN_-- 9/30/2011 1:28 PM Page 1

VIEWPOINT Where’s the brotherhood? editor in chief Rance Crain publisher, vp Jill R. Kaplan e’ve heard many calls for “shared and second, because he won’t sell out the other major state EDITORIAL sacrifice” lately, from the White employees union, CSEA, whose members approved a editor Xana Antunes managing editor Glenn Coleman House all the way down to the virtually identical contract.The only consequences—absent deputy managing editors Valerie Block, young protesters “occupying” a new vote, which Mr. Cuomo is begging for but which the Erik Ipsen assistant managing editor Erik Engquist Wall Street. Labor unions have union is not inclined to grant—are pink slips for 3,496 PEF senior producer, projects Kira Bindrim certainly availed themselves of members and fewer services for New Yorkers. senior producer, news Elisabeth Butler Cordova contributing editor the phrase. Ironically, one that The notion in some circles that the state could raise the Elaine Pofeldt didn’t seem to get the message is the Public Employees money for a more generous contract by extending the columnists Greg David, Michael Gross, Federation, the second-largest representative of New York personal income tax surcharge on households earning at least Alair Townsend W pulse editor Barbara Benson state government workers. $300,000 ignores political reality: Both the governor and the senior reporters Theresa Agovino, Aaron Elstein, Lisa Fickenscher, It was announced last week that 53.7% of those who voted Senate majority have repeatedly ruled that out. State Matthew Flamm, Miriam Kreinin Souccar on a five-year contract negotiated by PEF leaders and Gov. legislators are not even scheduled to convene again this year reporters Amanda Fung, Shane Dixon Kavanaugh, Daniel Massey, Adrianne Pasquarelli, Andrew Cuomo had rejected the deal. As a result, the and are unlikely to raise taxes in 2012, when they are all up Jeremy Smerd Cuomo administration initiated layoffs that will hit about for re-election. reporter/producer Emily Laermer 6% of PEF state workers.The state doesn’t have enough PEF leaders, if they want to protect all of their members art director Steven Krupinski deputy art director Carolyn McClain money to pay all 56,000 members under the contract that and preserve the “shared sacrifice” argument, should call staff photographer Buck Ennis expired March 31 but by law remains in effect. another vote on the contract and lobby harder for passage copy desk chief Wendy Zuckerman copy editor Thaddeus Rutkowski The union’s explanation was that its members believed this time. research editor Dana Gordon they were sacrificing too much, for example by forgoing assistant research editor Suzanne Panara research interns Callie Eidler, Helen Kwong raises for three years, paying a little more of their health editorial intern Rebecca Olles insurance premiums and agreeing to take nine extra days off. He set the standard EDITORIAL AND ADVERTISING OFFICES But those 53.7% were selfishly sacrificing the junior 711 Third Ave., New York, NY 10017-5806 members of their ranks. While newer employees are laid off, Word leaked last week that Port Authority Executive editorial: 212.210.0277 Fax 212.210.0799 advertising: 212.210.0711 the rest will continue to receive seniority raises and robust Director Christopher Ward would resign this month. It was Cable craincom nyk benefits packages. So much for union brotherhood. not a surprise; the Cuomo administration had made clear Fax 212.210.0499 It bears mentioning that under the proposed contract, that he would not be retained much beyond the 10th Entire contents ©copyright 2011 Crain Communications Inc. All rights reserved. employees’ health care costs would have remained far less anniversary of the Sept. 11 attacks. ®CityBusiness is a registered trademark of MCP than what private-sector workers pay, and only five of the While it’s the governor’s right to appoint his own person, Inc., used under license agreement. furlough days would have been unpaid; workers were to be Mr. Ward deserves high praise for getting the World Trade TO SUBSCRIBE: For subscription information and delivery concerns, compensated for the other four days at the end of the Center project on track and keeping the Port Authority please e-mail [email protected] or call 877.824.9379 (in the U.S. and Canada) or contract. humming without increasing its operating budget for three 313.446.0450 (all other locations.) $3.00 a copy, $99.95 one year, $179.95 two years. The vote won’t bring Mr. Cuomo back to the bargaining years. We hope a successor is found who can match that www.crainsnewyork.com table with a pile of money. First, because he doesn’t have it, performance. ADVERTISING AND MARKETING advertising director Trish Henry senior account managers Irene Bar-Am, Courtney McCombs, Sheryl Rose, Suzanne Wilson CRAIN’S ONLINE POLL COMMENTS sales manager, classified print & online John Gallagher sales coordinator print & online IS ‘OCCUPY WALL STREET’ Danielle Wiener newsletter product manager HAVING AN IMPACT? Alexis Sinclair Better representation credit Todd J. Masura 313.446.6097 Date of poll: Sept. 29 assistant marketing manager 733 votes WHY NONCITIZENS SHOULD VOTE and July 4 that were not well-attended, he fails Sabra Harrison to point out that three of F.C. New York’s 12 director, audience development Yes. It’s Michael O’Connor channeling As you note in “Gerrymandering: Queens sin- home games were sellouts. If Crain’s is going to people’s gled out” (Sept. 12), more than 50% of Queens’ allow negatives and half-truths to be headlines, director of online and e-commerce

. 63% frustration with population is Asian or Latino, yet only two I will campaign for every lawyer and banker I strategy the economic Asian or Latino members represent the borough do business with to cancel their subscriptions. Kristi Serrano crisis. in the state Assembly. This underrepresenta- I am sorry Crain’s didn’t do a better job. web developer, interactive Chris O’Donnell

Maybe. The tion is true throughout New York, at all levels. —“duke” nelson

. 22%

demonstrators Time will change this, but so, too, will City NEW YORK PRODUCTION 15%. have drawn Council legislation introduced last November ADIEU, CHRIS WARD production and pre-press director attention, but that will open participation in municipal elec- Michael Corsi they lack a clear tions to all legal residents of the city, regardless Chris Ward will be genuinely missed by Port advertising production manager message. No. It’s a small group of Suzanne Fleischman Wies people who have received of citizenship status. More than 1.3 million of Authority staff, local officials and the public, a disproportionate share our neighbors pay taxes and contribute in which have come to know him as a wise, fair PUBLISHED BY CRAIN COMMUNICATIONS INC. of media attention. countless ways to our communities, but have and forward-thinking leader (“Port Authority chairman Keith E. Crain no political voice. boss heads for the exit ramp,” www.crains president Rance Crain The face of the city has changed over the past newyork.com). These traits are rare these days. secretary Merrilee Crain two decades; it is time our democracy caught up. He represents that percentage of high-level treasurer Mary Kay Crain William Morrow public servants who understand their role: serv- executive vp, operations —dennis redmond senior vp, group publisher Gloria Scoby Sunnyside, Queens ice to the public and growth for the region. group vp, technology, circulation, Ward deserves a round of applause. Bravo! manufacturing Robert C. Adams SPEAKING UP FOR SOCCER —tim geoghegan vice president/production & manufacturing David Kamis chief information officer Paul Dalpiaz With regard to the article “Soccer returns to CRAIN’S WELCOMES SUBMISSIONS to its opinion G.D. Crain Jr. bloomberg news NYC; too bad about the turnout” (Neighbor- pages. Send letters to [email protected]. founder (1885-1973) For this week’s questions: Go to hood Journal, Aug. 22), one must assume that Send columns of 475 words or fewer to chairman Mrs. G.D. Crain Jr. (1911-1996) www.crainsnewyork.com/poll to have your say. the reporter never made a game himself. [email protected]. Please include the writer’s While there were matches on Memorial Day name, company, address and telephone number.

10 | Crain’s New York Business | October 3, 2011 20111003-A--0011-NAT-CCI-CN_-- 9/30/2011 12:34 PM Page 1

OPINION

change that reforming our redistricting process represents. The lat- Beat the clock, est Quinnipiac University poll shows that voters support independent redistricting by a 3-to-1 margin, and half of them say they Albany-style would feel “betrayed” if a plan were approved that is not sufficiently independent. never expected that reforming the decades-old legisla- The 138 state legislators who tive redistricting process would be easy. For the state of- signed campaign pledges last year to ficials who depend on the status quo to keep their jobs, reform the redistricting process should consider such polls to be a the stakes are far too high to give up without a fight.Nat- warning shot.Those who would re- urally, they are deploying the most potent weapon in turn to voters next year after failing their arsenal: the clock. to substantially reform redistricting I will face a population no less angry. Ready or not,redistricting must be completed in time to pre- The reform pledge that once helped pare for the primary elections next year. The process will be get them into office would instead be an albatross around their necks— guided by whatever is ty to the very individu- a broken promise to explain away. on the books at the als who stand to benefit Most important to the cause of time, and right now, most—is the opposite redistricting reform is Gov.Andrew that’s the same-old dys- of fair and impartial.We Cuomo. It’s one of the keystones of functional process we’re mustn’t be tricked into his vow to return Albany to the peo- trying to fix. And so, thinking it can some- ple. He promised to veto any redis- Albany’s most in- how do so now. tricting proposal that was not creat- tractable forces dig in. However, its mem- ed by an independent entity. Tick, tick, tick. bers have been collect- Should that veto come to pass, But they haven’t won ing and analyzing im- the new maps will be drawn by a dif- yet: There is still an op- portant demographic ferent independent body: the portunity to create and EDWARD I. data and public com- courts. The results will still be im- implement an inde- KOCH ments that could be in- proved, but the Legislature will get pendent redistricting herited by an independ- none of the credit; rather, it will be commission in time for ent commission created scorned again by the great many the 2012 elections. to replace Latfor, enabling a new New Yorkers who want reform. The Legislative Task Force his- body to complete its work in weeks. Lawmakers: Stop the clock, re- torically responsible for redistrict- Here’s why we reformers can hold turn to Albany this fall and deliver ing (known in the state capitol’s cor- out hope—and why I believe we ul- the reform that was promised. ridors as “Latfor”) has never been timately will win. able to accomplish its task in a fair or First, New York voters are still as Mr. Koch is a former mayor of New York City impartial manner. Indeed, its pur- angry and frustrated with Albany as and founder of New York Uprising, which pose—to give mapmaking authori- they were a year ago.They want the advocates for independent redistricting.

So last week, I asked one of them exactly why he was so enthusiastic The Passion about the New Jersey governor. He immediately fired back his top rea- sons:“He is a no-nonsense,straight- forward guy who calls it how he sees of the Christie it, pulled the plug on a massive project that New Jersey couldn’t afford, udy Giuliani dispatched another political opera- realizes that high taxes aren’t good for anyone, doesn’t take crap from tive to New Hampshire last week to see if there is anyone, is not afraid to be disliked, an opening for him in the Republican presidential focuses on what’s important, stands race. Better if he had sent out his people to talk to up to public sector unions, is not an his once-loyal supporters in the New York business ideologue and has achieved biparti- san solutions to problems.” AUCTION Rcommunity who’ve found a new political love. This is the kind of enthusiasm No, it’s not New York Gov. Andrew Cuomo, although local Barack Obama generated among Tuesday, October 18 businesspeople almost uniformly back Mr. Cuomo because of liberals four years ago, but it has been a long time since a Republican 52-54 Genesee Street, Camillus, NY his tough stances on Its members also in- presidential candidate created such 10 AM state spending, taxes, clude hedge fund man- passion in New York.The breadth of and public union salaries agers David Tepper, Mr. Christie’s support is also eye- 134.557± Total SF Facility and benefits. Few truly Paul Singer and Daniel opening: Partnership for New York love Mr. Cuomo, how- Loeb, who last time out City President Kathy Wylde told Former Camillus Cutlery ever.Their passion is re- supported Barack Oba- The New York Times last week that served for New Jersey ma. These are Rudy’s the Garden State’s governor had Gov. Chris Christie. kind of people. “knocked the socks off ” of the elite 822 Niagara Street, Niagara Falls, NY The latest burst of Mr. Christie then executives from Wall Street, real es- 3 PM Christie presidential fanned the speculation tate and media who make up her mania began last week by giving a well-received business group’s board. 4'$PNNFSDJBM when word leaked that GREG speech at the Ronald It is possible that Gov. Christie several big New York DAVID Reagan Presidential Li- will decide not to run.The stumbles #VJMEJOH"$-PU fundraisers for Republi- brary and refusing to rule of Texas Gov. Rick Perry show how can candidates had re- out joining the GOP treacherous the presidential cam- newed a push to per- field. Some of the polit- paign can be, and Mr. Perry is much suade Mr. Christie to run for ically active businesspeople I regu- more experienced in government 800.257.4161 president.Leading the group is Ken- larly chat with have been singing Mr. and politics than Mr.Christie is.But Higgenbotham.com neth Langone, Home Depot co- Christie’s praises for months, even if Mr. Christie runs, his support in George Fuchs New York Broker: founder and a major source of mon- as I doubted whether he would—or New York will give him the money '6t%$" ey in New York and national races. could—run for president. to be a formidable contender.

October 3, 2011 | Crain’s New York Business | 11 20111003-A--0012-NAT-CCI-CN_-- 9/29/2011 5:32 PM Page 1

FOR THE RECORD

CONSTRUCTION SERVICES descriptions following this format to represented the tenant. The asking rent ● Department of Design and Construction [email protected], with “Real was $150 per square foot. ABOUT THIS SECTION Seeks competitive sealed bids by 11 a.m. estate transaction” in the on Oct. 20 for reconstruction of FOR THE RECORD is a weekly listing of information from the public record that subject line, or enter them online at collapsed or otherwise defective sanitary crainsnewyork.com/submitadeal. Deals STOCK TRANSACTIONS can help businesspeople in the New York area find opportunities, potential storm and clay pipe sewers in various are listed in order of square footage. new clients and updates on competitors. locations in Queens. Bid documents Following are recent insider transactions at To ask questions or get more information on this section, contact Suzanne deposit is $35 per set. Company check COMMERCIAL New York’s largest publicly held companies Panara at [email protected]. or money order only; no cash. Late bids ● MSCI signed a 20-year lease for filed with the Securities and Exchange will not be accepted. Bid documents 125,000 square feet of 7 World Trade Commission by executives and major are available at www.nyc.gov/ddc. To Center. Cushman & Wakefield Inc.’s shareholders. Listings are in order of make inquiries, contact Ben Perrone at Gary Greenspan and Michael Burgio transaction value.The information was (718) 391-2614. represented the tenant. Jeremy Moss and obtained from Thomson Reuters. BANKRUPTCIES largest unsecured claims are ELS Roger Silverstein represented landlord Transportation, owed $319,824.51; ● School Construction Authority Silverstein Properties Inc. in-house; they ● Coach Inc. (COH) The following listings are selected from the Nasim Alikani, owed $185,145; and Seeks competitive sealed bids by 11 a.m. worked with CB Richard Ellis Group Reed Krakoff, president and executive most recent available filings by companies Coastal Distribution, owed $145,000. on Oct. 13 for exterior masonry/roof Inc.’s Stephen Siegel and Peter Turchin. creative director, exercised options on seeking bankruptcy protection in the replacement at P.S. 222 in Brooklyn. The asking rent was undisclosed. 415,156 shares of common stock at prices Southern and Eastern Districts of New ● Lucky Joy Restaurant Inc. The nonrefundable charge for bid ranging from $32.37 to $38.41 on Sept. York. Information was obtained from U.S. 41-10 Main St., Queens documents is $250, paid by certified ● New York University signed a 10-year 16, in a transaction worth $14,567,276. Bankruptcy Court records available on Filed for Chapter 11 bankruptcy check or money order only. Make checks lease for 33,000 square feet at 411 On the same day, he sold 83,721 shares of Public Access to Court Electronic Records. protection on Sept. 22. The filing cites payable to New York City School Lafayette St., expanding its total common stock at $59.25, in a transaction Listings are in alphabetical order. estimated liabilities of $100,001 to Construction Authority. Bidders must occupancy to 45,000 square feet. The worth $4,960,469. He now directly holds $500,000 and estimated assets of be prequalified by the SCA. To make university will occupy parts of the third 114,534 shares. ● 3-D Building & Home Improvement Co. $50,001 to $100,000. Among the inquiries, contact Rookmin Singh at and fourth floors, plus the entire fifth 10 Emerson Court, Hampton Bays, L.I. creditors with the largest unsecured (718) 752-5843 or [email protected]. floor. Newmark Knight Frank’s Jordin Lewis Frankfort, chairman and chief Filed for Chapter 7 bankruptcy claims are WSFM Inc., owed Gosin, James Kuhn, Howard Kessler executive, exercised options on 405,001 protection on Sept. 20. The filing cites $151,897.40; and New York State GOODS AND SERVICES and Brent Ozarowski represented the shares of common stock at prices estimated liabilities of $500,001 to $1 Workers’ Compensation, owed $6,000. ● Department of Parks and Recreation tenant. Mark Stein and Jason Vacker ranging from $34.85 to $34.94 between million and estimated assets of $50,001 Seeks competitive sealed bids by 3 p.m. represented the landlord, Himmel + Sept. 13 and Sept 14, in a transaction to $100,000. Among the creditors with on Oct. 24 for the renovation, operation Meringoff Properties, in-house; they worth $14,131,448. the largest unsecured claims are Joseph GOVERNMENT CONTRACT and maintenance of a newsstand in worked with Winick Realty Group’s Lee Dunn, owed $125,000; and Michael OPPORTUNITIES Manhattan. To make inquiries, contact Block, Darrell Rubens and Annie Shinn. ● Time Warner Cable (TWC) Dunn, owed $125,000. Davita Mabourakh at (212) 360-1397 or The asking rent was $40 per square foot. Glenn A. Britt, chairman and chief Following are selected contract [email protected]. executive, exercised options on 75,000 ● G.M. Transfer Inc. opportunities recently announced by New RETAIL shares of common stock at $47.95 on 216 Manida St., Bronx York City agencies.To learn how to sell ● Cut25 signed a lease for 2,800 square Sept. 15, in a transaction worth Filed for Chapter 11 bankruptcy goods and services to city government, visit REAL ESTATE DEALS feet at 129 Grand St. Prudential Douglas $3,596,250. On the same day, he sold protection on Sept. 19. The filing cites www.nyc.gov/selltonyc. For a searchable Elliman’s Faith Hope Consolo and 75,000 shares of common stock at prices estimated liabilities of $1,000,001 to database of current procurement notices, Companies that would like to have Joseph Aquino represented landlord ranging from $64.91 to $65.62, in a $10 million and estimated assets of $0 to visit www.nyc.gov/cityrecord. Listings are details of their recent transactions 129-131 Grand Street LLC, while The transaction worth $4,879,193. He now $50,000. Among the creditors with the alphabetical by category and department. appear in these listings should email Kaufman Group’s Arthur Spitalnick directly holds 83,026 shares. Ⅲ

Checking fees? Not on this month’s menu.

business checking FREE of monthly account fees At Citibank, we’ve made it easy for you to avoid monthly checking fees. All you have to do is select a featured small business service that’s right for you, or just maintain a minimum balance.

Stop by a branch, call 888-CITI-690 or visit citibank.com/businesschecking

CitiBusiness® Streamlined Checking account must be enrolled in the offer to be eligible to receive the monthly maintenance fee waiver each month when customer satisﬁ es one of the requirements that month: (1) is enrolled in CitiBusiness Payroll Manager, or Citi® Merchant Services, or Remote Check Deposit, or CitiBusiness Online ACH, OR (2) performs 5 CitiBusiness Online transactions – either bill pays or outgoing wire transfers. The account may also qualify by meeting the minimum monthly balance requirement. Offer limited to Streamlined Checking accounts and one enrollment per customer. Offer can be modiﬁ ed or withdrawn at any time without notice, is not transferable and cannot be combined with any other offer. Speak to a Citibank Business Specialist for more details. Citi Merchant Services is provided by First Data Merchant Services Corporation. CitiBusiness Payroll Manager is a service provided directly to our payroll service customers by SurePayroll, Inc. Remote Check Deposit service requires purchase of remote check scanner. Restrictions apply. The terms, conditions and fees for accounts, products, programs and services are subject to change. All accounts and services are subject to approval. Fees and conditions apply to certain products and services. © 2011 Citigroup Inc. Citibank, N.A. Member FDIC. CitiBusiness, Citi, Citibank and Citibank with Arc Design are registered service marks of Citigroup Inc.

12 | Crain’s New York Business | October 3, 2011 20111003-A--0013-NAT-CCI-CN_-- 9/29/2011 7:20 PM Page 1

REAL ESTATE DEALS

NEED FOR NEW Big investment outfit triples on Fifth SPACE SHRINKS Change in number of New York bags and heading to a much bigger Savitt Partners, decided to remain at its current City office workers Bucking downsizing space in the garment district. who, along space at 1 E. 33rd St., it would have trend, William Blair The designer and manufacturer with colleague had to expand to multiple floors. 2010: +31,962 WORKERS of hosiery and winter accessories has Brian Neuge- The 50-year-old company will pumps up NY office signed a 10-year lease for 19,500 boren, repre- move its showroom, back office and square feet at the Martin Building, sented the ten- design studio into its new full-floor ot all financial services located at 17-19 W. 34th St. The ant. office on Dec. 1. Currently, it occu- +2.8% firms are shrinking: asking rent for the space was $40 per Mr. Schoen pies roughly 7,000 square feet. 2011*: +1,606 WORKERS William Blair & Co.is square foot. added that hav- Landlord PRD Realty Corp. tripling the size of its “The company needed to be on ing a West 34th was represented in-house by Marty Manhattan outpost. one floor, and the Martin Building Street address and Scott Domansky, who are fa- +0.1% NThe Chicago-based company has kept it in the proximity of its origi- near Fifth Av- ther and son. *Through August. Source: Studley expanded into roughly 24,000 square nal location,” said Marc Schoen of enue was a plus. If Gold Medal had —amanda fung feet of space at 666 Fifth Ave. It signed a seven-year lease for the extension and expansion. The asking rent was $80 per square foot. William Blair has hired additional equity research,fixed-income and investment banking staff in New York,said a spokesman.The company originally occupied 7,000 square feet at the 41-story office tower. The tenant was represented by James Wenk and David Kleiner of Jones Lang LaSalle. Landlord Kushner Cos. was represented by Howard Fiddle and Zachary Free- man of CB Richard Ellis Inc. —amanda fung WHEN YOU FLY NJ research house hits the Wall SO SHOULD YOUR COMPANY. IBISWorld Inc.is defecting to Man- Earn rewards for your company while you earn miles. With SkyBonus®. A complimentary program that hattan, backed by likely financial awards points to your company each time an employee flies. With over 65 travel rewards, including help from local authorities. The in- Award Travel, Delta Sky Club® memberships, Silver Elite® status, and more, SkyBonus helps your dustry-research company signed a company get more mileage out of its travel budget. 10-year lease for 16,200 square feet at the Trump Building at 40 Wall St. New York special offer: Earn an additional 30,000 SkyBonus points when you enroll IBISWorld is now in a 2,265- by 11/30/11, and fly within 60 days of enrollment. square-foot office on the far banks of the Hudson River in Jersey City. A Use promo code: CRAINS potential tax benefit from the Lower Manhattan Relocation and Employ- ment Assistance DELTA.COM/SKYBONUS Program was a big reason why company executives decided to move,but not the only one. “They wanted to be part of the action downtown,” said Christopher Marx, who negotiated for the tenant along with Studley colleague Marc Shapses. “They thought they would be better able to recruit employees from Brooklyn and Long Island.” The 70-story Trump Building— first known as the Manhattan Com- pany Building—was briefly the tallest tower in the world after it was finished in 1930. Staffers will move into the new office in January after work is completed. Bradley Gerla of CB Richard El- lis Inc. negotiated the transaction for The Trump Organization. The asking rent for the space was $35 per square foot. —rebecca olles Garment firm Terms and Conditions: To qualify for this promotion, companies must be a small to medium-sized company based in U.S., Canada, or Mexico with a valid Federal Tax ID or VAT number, enroll your company by November 30, 2011 at delta.com/skybonus, enter the Promotion Code CRAINS and purchase and fly on a qualifying flight within 60 days after pockets more space enrollment. Qualifying flights include tickets and flight numbers validated on Delta (ticket number begins with “006”), Air France (“057”), KLM (“074”), or Alitalia (“055”). Exclusions may apply. One bonus per new member. Companies with a Delta, Air France, KLM or Alitalia Preferred Carrier Agreement are not eligible. Travel agencies and other sellers of travel are also not eligible. All SkyBonus program rules apply to SkyBonus program membership, points, offers, point accrual, point redemption and travel benefits. To review the rules, please visit delta.com/skybonus. Taxes and fees for award travel are the responsibility of the passenger and must be paid at the time the ticket is booked. Award travel seats are limited and may not be available on all flights or in all markets. All SkyMiles, Flying Blue and MilleMiglia program rules apply, respectively. To review the rules, please visit delta.com/memberguide, airfrance.us, and alitalia.com/US_EN/millemiglia. All Delta Sky Club rules apply to club membership and use. To review the rules, please visit After more than two decades at East delta.com/skyclub. Additional restrictions may apply. © 2011 Delta Air Lines, Inc. 33rd Street and Fifth Avenue, Gold Medal International is packing its

October 3, 2011 | Crain’s New York Business | 13 20111003-A--0014-NAT-CCI-CN_-- 9/29/2011 4:31 PM Page 1

HEALTH CARE INSIDE Largest health insurers, ranked by enrolled NYC members PAGE 18 “It’s just a very volatile environment now.” —Insurance broker Tim Tracy Jr., Page 16 Another year, another hike Looks like small biz insurance KARMA MARTELL: A sole proprietor who pays $300 a month through the government- premiums will rise 5%-15% in 2012. subsidized Healthy New York insurance plan, she annually And that’s the good news … makes decisions about what services she can do without. cial—not only because they need it BY ELIZABETH MACBRIDE themselves, but also because it en- ables them to compete with large Health insurance costs will rise again companies for good employees. for small businesses in 2012, al- “We’re expecting significant in- though—small comfort,perhaps— creases again,” said Gil Cygler, not as steeply as in the past few years. president of AllCar Rent A Car, Small businesses should expect based in Brooklyn. to be hit with rate increases in the His rates, which have gone up 5% to 15% range next year,depend- about 20% a year for the past two ing on their plan, versus the annu- or three years, climbed another al hikes of at least 10% this spring. His 15% to 20% that broker told him that were all too common Dreading they may spike again recently, according in January, Mr. Cy- to filings with the mail from gler said. state Department of When AllCar Insurance and indi- insurers at switches plans to keep vidual reports from cost increases man- small business own- this time ageable, coverage lev- ers and brokers. els generally go down. A new law in New of year “It becomes a York—which gave struggle,”he said,“be- the state the power to cause the economic block rate increases conditions we’re in in the small business and individ- now are horrendous. You can’t re- ual markets as of June 2010— ally pass the cost on to anybody.” is helping to put a cap on Between 2002 and 2010,health rate hikes, say some ex- insurance costs for small businesses perts. Insurers and in the New York metro area jumped health care pro- 44.0%, to an average of $5,711 an- $3K viders are also nually, for a single person; they in- OUT-OF- trying to contain costs,and creased 56.7%, to $15,734, for a POCKET consumers may be using family policy, according to the lat- MEDICATION fewer services during these est available data from the Univer- COSTS rocky economic times. sity of Minnesota’s State Health last year Though the increases Access Data Assistance Center. may not be as shocking as Nationally,small businesses pay an they have been in recent average of $4,956 and $13,170 for years, the insurance hikes still are a the respective policies. burden, especially to small busi- Big businesses,which have more nesses.Executives at such firms say negotiating power,pay less but have they are struggling to manage costs seen rates rise even more. In the

buck ennis for a benefit that they see as cru- See ANOTHER YEAR on Page 16

LAST YEAR,Student Sponsor Partners turned other changes. ago—is now far beyond reach. a projected 20% increase in its health care “We’re all in this together,” said Execu- Companies that want to keep their costs How to costs into a 3% reduction in its annual tive Director Margaret Minson, who each manageable are looking at five basic strate- budget—using strategies that would have year gathers the group to talk about what gies, say employers and insurance brokers. been unthinkable just a few years ago. steps they’re going to take to manage the organi- Shift costs to employees.Employees at shrink your The Manhattan-based nonprofit, which zation’s insurance obligations. Student Sponsor Partners pay 25% of the covers private-school tuition for at-risk stu- After years of seeing health care costs cost of their coverage. Ms. Minson said her dents and matches them with mentors to soar—and reading headlines about them— nonprofit will probably increase that rate company’s help them graduate, dropped its employer employees may well be more accepting of again, when it gets an annual notice from contribution to the family plan, shifted the changes that small businesses increas- Oxford Health Plans that she expects will more costs onto the shoulders of its 12 em- ingly need to make. That’s true even at include a 15% increase for next year. health care ployees and added a tier of low-cost cover- places like Student Sponsor Partners, In the New York area, employees at firms age for employees who wanted to pay less. which relies on a stellar package of benefits with fewer than 50 employees paid 19% of There was no worker revolt. No one had been to compete with the private sector for top the premium for a single person in 2010, ac- using the family plan, and the employees sat employees. But paying the full cost of med- cording to a study by the State Health Access costs down to evaluate their options, given the ical insurance—which it did only five years See HOW TO on Page 16

14 | Crain’s New York Business | October 3, 2011 CN014663 9/23/11 4:23 PM Page 1

MODERN MEDICINE before medicine became modern.

1857. According to the date, it was the second half of the develop and implement ultimately became the essential 19th century. But as far as medicine was concerned, it was components of modern medicine. the middle ages. In fact, truth be told, the word medicine Lenox Hill Hospital’s list of fi rsts is impressive: the fi rst was something of a misnomer – because for all intents and general hospital in New York City to open a tuberculosis purposes, it owed less to science than superstition. Doctors division; the country’s fi rst physical therapy department; one operated totally in the dark; they of the fi rst intensive care units in New could hardly be expected to know the York City; the fi rst angiocardiogram cures for diseases when they didn’t in the U.S., performed by William H. know the causes. Stewart, former director of radiology; But in New York City, the makings the fi rst successful esophagectomy of a major medical milestone were to treat carcinoma, performed by underway, beginning with the fi rst Dr. Franz Torek; and the fi rst coronary stone laid on a construction site on angioplasty performed Park Avenue and 77th Street, and in this country by culminating in an imposing new Dr. Simon Stertzer. facility that would become known as That list has never Lenox Hill Hospital. stopped growing – and neither has Lenox Hill Our difference The quality of care was unprecedented, which was expected Hospital’s stature. Today, Lenox Hill Hospital from other considering the quality of the staff. The doctors were true continues to break new ground, joining forces to see. pioneers who set about providing a cure for the primitive with North Shore–LIJ to continue providing practices of the day. the best clinical treatment possible to New York. Indeed, Like Dr. Henry Jacques Garrigues, who brought antiseptic investments in Lenox Hill Hospital will build on the hospital’s obstetrics to North America. Dr. Willy Meyer, who performed well-deserved reputation for excellence in all areas, including some of the earliest pulmonary surgeries in this country. cardiac care, digestive disorders and orthopedics. Dr. Abraham Jacobi, considered the father of American Lenox Hill Hospital has been at the forefront of innovation pediatrics. Dr. Carl Eggers and Dr. Dewitt Stetten, founding for the past 150 years. It’s an enviable position – and one members of the American College of it has no intention

Surgeons. The procedures they helped TAKING CARE OF NEW YORK SINCE 1857 of relinquishing. A Proud Member of the North Shore-LIJ Health System 20111003-A--0016-NAT-CCI-CN_-- 9/29/2011 4:33 PM Page 1

REPORT HEALTH CARE

MATT Another year, another price hike MAHONEY: The executive director of an education nonprofit kept Continued from Page 14 a bigger chunk of hospital charges, City.He believes that upcoming in- the latest New York metro area over the same bringing the increase down to 3%. creases will be in the 12% to 15% increase to 3% period, their rates soared 52.6%, to Many small business owners range. “We are seeing carriers com- by switching to a new plan design. $5,178, for single-person plans and spend hours every fall shopping for ing out with more creative plans.” 60.3%, to $14,963, for family plans. new plans and negotiating with em- Among the options that insurers The increase in costs is not news ployees about what benefits they can are bringing to the market, he says, to small employers,who dread open- do without. A growing number of are plans that have higher de- ing mail from their insurance com- companies are switching to high-deductibles, but that include ex- panies this time of year. Matt ductible plans,combined with health ceptions. Employees with Mahoney,executive director of Op- reimbursement accounts to cover those plans would not eration Exodus—which offers af- those deductibles.Firms continue to have to pay out-of- 26% ter-school and weekend tutoring shift more costs to their workers,too. pocket,for instance, and mentoring for young people— for primary care INCREASE was stunned by the 26% increase in Higher deductibles visits or prescriptions, but under old the EmblemHealth plan he’d been “It’s just a very volatile environ- would have to meet a high health plan for offering to six full-time employment now,” said Tim Tracy Jr., vice deductible for hospital visits. six full-time ees. He switched his Washington president of Westport,Conn.-based Some companies help such employees Heights nonprofit to a different plan brokerage Gerard B.Tracy Associates workers by setting up health design, in which employees pick up Inc., who sells policies in New York reimbursement accounts. Rates in the market for sole pro- prietorships—which make up the GIL CYGLER, president of AllCar Rent A Car in vast majority of small businesses Brooklyn: “You can’t here—are rising faster than those for really pass the cost on the rest of the small business market, to anybody.” with insurers asking for increases upward of 20%, according to filings with DOI. Companies with two to 50 employees are allowed to buy insurance in the separately regulated small business market in New York. Many small businesses are wait- surance will remain fairly stable. in metro New York, HealthPass en- ing nervously to see whether they For now,the state law on rate ap- ables small businesses to offer a wide will be able to find lower-cost op- provals appears to be offering a selection of plans to their employ- tions in the insurance exchanges modicum of relief. Information ees. Overall, increases range from mandated by the federal health care from DOI’s website shows that ap- 3% to 16.8%, with an average of reform law. The exchanges are sup- proved rate hikes have tended to be 11.8%, Mr. Ashton said. posed to be up and running by 2014. 1 to 5 percentage points lower than The quality of the coverage that The exchanges are aimed at help- insurers had originally requested. small businesses can afford contin- ing both small businesses and in- ues to decline. dividuals, but their effect on Cost-containment policies Karma Martell, sole proprietor the market will be deter- Insurers, which opposed the law, of Brooklyn-based marketing firm mined by how they’re say the lower rate increases are due KarmaCom Inc., pays about $300 a designed. If the ex- to reduced use of health care servic- month for coverage through 20% changes end up es by customers, as well as their own Healthy New York, a government- helping individ- cost-containment efforts. subsidized program.She has steadi- ANNUAL uals to find low- Aetna, for instance, has reduced ly made decisions about what she can INCREASES cost insurance but don’t the number of plan designs it offers do without, including coverage for over the past offer lower rates for small in order to lower administrative prescriptions. Last year, she ended two years businesses, some compa- costs, among other measures, said a up paying $3,000 out-of-pocket. nies may decide to stop of- spokeswoman. But she has resisted switching to fering insurance entirely. Vince Ashton,executive director any of the lowest-cost plans, which Indeed, a McKinsey & of HealthPass,said some plans in his cover only care delivered within Co. study this spring predicted that program will see rate increases of small networks. as many as 30% of firms might stop only 3% in 2012, including in-net- “It depends on where you are go- offering insurance as reforms take work and cost-sharing plans from ing to compromise,” Ms. Martell effect. Other studies, however, have EmblemHealth and Oxford. A said. “I’m still concerned about the Ⅲ photos: buck ennis shown that the market for health in- nonprofit serving 3,500 employers quality of who’s taking care of me.”

down to the lower end of that range. den on employees with chronic conditions. The pain for employees is minimized if an Three or four years ago, trade-offs were How to shrink costs employer sets up an HRA to cover the de- easier, said Mr. Allen. Increasing a co-pay to ductible. Sometimes, this strategy results in $25 from $10 for a visit to the doctor didn’t Continued from Page 14 pocket because it cost less overall. savings because, unlike with a health savings seem too burdensome. Now, “we’re taking Data Assistance Center at the University of Mr.Tracy cautions,however,that employ- account,the HRA belongs to the employer— about $50 for physician visits,$500 for a hospital Minnesota. That’s about $90 a month on av- ers that take this step should make sure em- if it’s not spent,it goes back into the business’s co-pay,”he said.“This is not a pretty picture.” erage. Employees at big businesses pay 21.2% ployees are fully informed about the costs and bank account.“It’s a gamble,” said Ms. Min- Again, if employees are in the loop about of the costs of their premiums, or about $91. the options. Mr. Tracy’s brokerage prepares son, who is considering it for next year. the annual pain of health care cost increases, Add another tier of coverage.Employ- full compensation statements for its clients However, there are questions about they are more likely to be able to deal with ers can always offer less expensive plans. Be- that include line items for health insurance whether this approach will be viable,as more the changes—and may even choose to fund cause employees now pay a fairly large share and other benefits. That way, employees can of the federal health reform law takes effect a health savings account to make up for some of their coverage, they may choose a plan see how much their employer is spending. and the government takes a more active role of the higher spending with a lower tax bill. that’s cheaper for them and the employer, Switch to a high-deductible plan com- in approving plan designs, Mr. Allen said. Consider Healthy New York plans,sub- said Tim Tracy Jr., vice president of West- bined with a health reimbursement account. Tune the trade-offs.Employers can look sidized by the state to offer low-cost premi- port, Conn.-based brokerage Gerard B.Tra- Businesses that employ fewer than 50 people deeply into a plan’s details to figure out what’s ums for small businesses with low-income cy Associates Inc., who sells policies in New in New York typically pay $350 to $600 a month truly valuable to employees.Accepting a high- employees. The most significant require- York City. Most of the savings at Student for a single employee’s health insurance, said er co-payment for, say, hospital visits can re- ments are that 30% of employees must earn Sponsor Partners came from the three young Richard Allen, president of American Cor- sult in significant savings on a yearly basis.Ax- $40,000 or less, and the business cannot have employees who chose the plan added last porate Benefits Inc. A plan with a high de- ing prescription drug coverage is a particularly offered coverage in the previous 12 months. year, which cost the employees less out-of- ductible of, say, $2,500 could bring the cost big cost savings, though it can put a big bur- —elizabeth macbride

16 | Crain’s New York Business | October 3, 2011 Project9:fp template.qxd 9/20/11 1:50 PM Page 1

Excellence {in patient safety and quality}

NYU Langone Medical Center is committed to providing world-class care for every patient, every day. We are recognized by U.S. News & World Report as one of America’s best hospitals in 15 specialties, and by whynotthebest.org for having the highest standards of patient quality, based on key government quality indicators. And, we are a recipient of the Magnet Award for Nursing Excellence, given to only 6% of hospitals in the country. a www.NYULMC.org/findadoc. 20111003-A--0018-NAT-CCI-CN_-- 9/29/2011 4:33 PM Page 1

HEALTH CARE New York City’s Largest Health Insurers Ranked by number of enrolled NYC members

# $#! $#! " " " " ' ! '! '! &' !# ' ' ! ' ' ' &!! ! "! %!" '' ' $!' '' ! $!' $!' ' ' ' '

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

"/-+(0."(/%(** (%&# '()*!% "105/-50 9 0 9 0 +-?1=(? BBB 81?=:;7@> :=3 %=1>5019?/45121C1/@?5A1 "105/-=1 #1B,:=6#, $?41= -&("!*. #* % &)'!*#)&(' &!"(&.-""2+-' (" % "105/-50 &@119>7A0 BBB 250175>/-=1 :=3 %=1>5019?/45121C1/@?5A1 "105/-=1 '13:%-=6#, $?41=

"(/%(0. &$ (#. "105/-50 0-8>(? BBB 41-7?4;7@> 9D :=3 C1/@?5A105=1/?:= "105/-=1 =::67D9#, $?41= +* (%!#%*( &$*"(/%-"+#"2+-' (#) *#%& %%$ 9 0 9 0 9 0 ?4(? BBB /539- /:8 %=1>5019?3191=-78-9-31= %$( #1B,:=6#, $?41= ! %&(' ##&*&/3"(/%(* +( #+)*&% "105/-50 -7>1D(? BBB -22595?D41-7?4;7-9 :=3 %=1>5019?/45121C1/@?5A1 "105/-=1 =:9C#, $?41=

"&$% +-%++!"(/%-+1&!"-. *,% &(. "105/-50 52?4A1 BBB 31?94; /:8 %=1>5019?/45121C1/@?5A1 $?41= #1B,:=6#, !.) #* *-&(" )"-&$-+0,+))0*&/3-" &(* . +#!) "105/-50 9 0 9 0 9 0 + >?(? BBB -81=53=:@;/:=; /:8 45121C1/@?5A1 9 8 "105/-=1 #1B,:=6#, $?41= $(! (&+'&(' /(*/&."(/%(** +(. %% "$ 9 0 9 0 9 0 9 0 =:-0B-D BBB -?7-9?5>4; /:8 %=1>5019?/45121C1/@?5A1 %$( #1B,:=6#, *#%*!) #* .)*$) (!"-,(** &%# !% "$ 9 0 (1A19?4A1 BBB 1701=;7-9 :=3 %=1>5019?41-7?4;7-9> %$( =::67D9#, "105/-50 *(&'&#!*%-!) #* .)*$ "105/-=1

"2 +-' -" 59/7@01> #1B ,:=6 5?D -90 #->>-@ (@22:76 -90 +1>?/41>?1= /:@9?51> 59 #1B ,:=6 -90 1=319 >>1C @0>:9 -90 *95:9 /:@9?51> 59 #1B !1=>1D (!%/) - &(" +)!%)) @>1> >?-22 =1>1-=/4 1C?19>5A1 >@=A1D> -90 ?41 8:>? /@==19? =121=19/1> -A-57-.71 ?: ;=:0@/1 5?> 75>?> .@? ?41=1 5> 9: 3@-=-9?11 ?4-? ?41 75>?593> -=1 /:8;71?1 ): <@-752D 2:= ?45> 75>? /:8;-951> 8@>? :221= 41-7?4 59>@=-9/1 ;=:0@/?> 75/19>10 .D ?41 -;;=:;=5-?1 >?-?1 =13@7-?:=D -319/D -90 4-A1 19=:7710 818.1=> 59 #1B ,:=6 5?D 77 592:=8-?5:9 B-> ;=:A5010 .D ?41 /:8;-951> @971>> :?41=B5>1 9:?10 %=185@8 =1A19@1> -90 =1A19@1> -=1 2:= ?41 59>@=-9/1 /:8;-9D .->10 :9 /-7190-= D1-= 77 :?41= 253@=1> -=1 -> :2 !@91 905/-?1> ?4-? ?41 /:8;-9D :221=> ?41 ;7-9 .@? ?41 [email protected]= :2 818.1=> 5> 9:? 05>/7:>10 := 9:? -A-57-.71 "$ 1-7?4 8-59?19-9/1 :=3-95E-?5:9 %%$ %=121==10 ;=:A501= :=3-95E-?5:9 %$( %:59? :2 >1=A5/1 9 0 #:? 05>/7:>10 9 8 #:? 81-95932@7 8;7:D11> -90 ?415= 01;19019?> 1C/7@0593 B:=61=> /:8;19>-?5:9 9/7@01> $ ,#> 4570 1-7?4 %7@> 1-7?4D #1B ,:=6 "105/-=1 ;=:0@/?> 5901895?D .->10 ;=:0@/?> -90 >;1/5-7?D ;7-9> :>;5?-7 ;4D>5/5-9 -90 18;7:D11 [email protected]=> -=1 2:= #1B ,:=6 -90 #1B !1=>1D -857D 1-7?4 %7@> 4570 1-7?4 %7@> 1-7?4D #1B ,:=6 %-=19? := /:9?=:77593 /:8;-9D 5> ?41 >-81 :9>@81= 05=1/?10 41-7?4 ;7-9> 5901895?D ;=:0@/?> 53@=1 5> 2:= ;-=19? := /:9?=:77593 /:8;-9D 4570 1-7?4 %7@> -857D 1-7?4 %7@> 1-7?4D #1B ,:=6 019?-7 >?-90 -7:91 ;4-=8-/D .19125? 8-9-31= 1C/7@>5A1 ;=:A501= :=3-95E-?5:9 -90 "105/-=1 ;=:0@/?> 4570 1-7?4 %7@> -857D 1-7?4 %7@> "1?=:%7@> :70 "1?=:%7@> %-=?91=>45; 59 -=1 -857D 1-7?4 %7@> 4570 1-7?4 %7@> @-7 0A-9?-31 "105/-50 0A-9?-31 %7@> -857D 1-7?4 %7@> .@D 59 -857D 1-7?4 %7@> 4570 1-7?4 %7@> :8;-9D 01/75910 ?: ;-=?5/5;-?1 59 ?41 >@=A1D 77 253@=1> -=1 1>?58-?1> .->10 :9 (!%) =1>1-=/4 53@=1> -=1 2:= ?41 /:8;-9D> #1B ,:=6 >?-?1 :;1=-?5:9> 1C/1;? B41=1 9:?10 ?41 /:8;-9D> 8-=61? ;=1>19/1 5> /:9/19?=-?10 59 #1B ,:=6 5?D %1=/19? /4-931 9:? /-7/@7-?10 .1/-@>1 253@=1 5> 9:? /:8;-=-.71 B5?4 ?4-?;=:A501059 '1>1-=/4-9-:=0:9(@E-991%-9-=- ➚➚ SEE ALL OF CRAIN’S BUSINESS LISTS @ WWW.CRAINSNEWYORK.COM/LISTS 18 | Crain’s New York Business | October 3, 2011 CN014645 9/16/11 1:12 PM Page 1

Choosing the best hospital in New Jersey just became easier.

Our unique combination of caring, skill and technology has elevated Hackensack University Medical Center to be recognized by US News & World Report* as one of the best hospitals in the region and one of the ﬁnest in the nation. To learn more about how we can help you, call 201-996-2000 or visit us at humc.com.

*For more details on the US News & World Report study, go to www.usnews.com/besthospitals nb40p20-22cl.qxp 9/30/11 2:31 PM Page 20

BUSINESS OPPORTUNITY PUBLIC & LEGAL NOTICES

NOTICE OF QUALIFICATION of Gate NOTICE OF QUALIFICATION OF Notice of Qualification of 399 Services Five LLC. App. for Auth. filed with Halcyon Loan Trading Fund LLC. App. LLC. Authority filed with NY Dept. of Secy. of State of NY (SSNY) on for Authority filed with the Sect. of State on 8/31/11. Office location: NY 07/19/2011. Office location: NY State of NY (SSNY) on 8/10/11. N.Y. County. Princ. bus. addr.: 800 County. LLC formed in Delaware (DE) Office Loc: NY County. LLC formed Boylston St., Ste. 1900, Boston, MA on 05/03/2010. SSNY designated as in DE on 7/14/11. SSNY has been 02199. LLC formed in DE on 8/29/11. agent of LLC upon whom process designated as agent of LLC upon NY Sec. of State designated agent of against it may be served. SSNY shall process against it may be served and LLC upon whom process against it mail process to: 233 Broadway, 21st shall mail process to: c/o Walkers may be served and shall mail process Floor, NY, NY 10279. DE address of Corporate Services Delaware Ltd., 200 to: c/o CT Corporation System, 111 LLC: c/o Corporation Service Co., Bellevue Pkwy, Ste 170, Wilmington, 8th Ave., NY, NY 10011, regd. agent 2711 Centerville Rd., Ste. 400, DE 19809. DE addr. of LLC: 200 upon whom process may be served. Wilmington, DE 19808. Cert. of Form. Bellevue Pkwy, Ste 170, Wilmington, DE addr. of LLC: 1209 Orange St., filed with the DE Secy. of State, P.O. 19809. Cert. of Form filed with DE Wilmington, DE 19801. Cert. of Form. Box 898, Dover, DE 19903. Purpose: Sect. of State, PO Box 898, Dover, DE filed with DE Sec. of State, 401 any lawful activity. 19903. Purpose: any lawful activity. Federal St., Dover, DE 19901. Purpose: all lawful purposes. GELILA BEKELE LLC, a domestic NOTICE OF FORMATION OF BOOKKEEPING DIRECT TV PROVIDER Limited Liability Company (LLC), filed Eleanore T. Kim, M.D., PLLC. Arts of Notice of Qualification of HUDSON- with the Sec of State of NY on Org filed with the Secy of State of VIEW CAPITAL MANAGEMENT, LLC. SERVICES 7/27/11. NY Office location: New NY (SSNY) on 08/22/11. Office loc: App. for Auth. filed with Secy. of State # Directv Dealer York County. SSNY is designated as NY Cty. SSNY designated as agent of NY (SSNY) on 8/25/11. Office agent upon whom process against upon whom process may be served location: NY County. LLC formed in NYC the LLC may be served. SSNY shall and shall mail process to: 330 E 33rd Delaware (DE) on 1/4/11. SSNY des- See client list mail a copy of any process against St, Apt 3C, NY, NY 10016. Principal ignated as agent of LLC upon whom the LLC served upon him/her to business address: 760 Park Ave, NY, process against it may be served. WWW.DKOCNNECTIONS.COM Gelila Bekele, 310 E. 53rd St., #28A, NY 10021. Purpose: any lawful acts. SSNY shall mail process to: The LLC, (516)541-5700 NY, NY 10022. General Purposes. 40 Worth St., Ste. 826, NY, NY 10013. www.mayermeinberg.com CITY COURIER SERVICES LLC, a DE address of LLC: c/o United HEALTHYUS, LLC Articles of domestic Limited Liability Company Corporate Services, Inc., 874 Walker Organization filed with NY Sec. of (LLC), filed with the Sec of State of NY Road, Ste. C, Dover, DE 19904. Arts. EXECUTIVE State (SSNY) 7/26/2011. Office is on 5/23/11. NY Office location: New of Org. filed with DE Secy. of State, located in NY Co. SSNY designated York County. SSNY is designated as Townsend Bldg., Dover, DE 19901. EVENT RECRUITER as agent of the LLC upon whom agent upon whom process against Purpose: any lawful activity. process may be served. SSNY shall the LLC may be served. SSNY shall ACG The New Normal - Credit mail copy of process to Attn: Henry mail a copy of any process against Notice of Formation of Toll GC II LLC. Crises Redux POSITION AVAILABLE Eng, 175 W. 12TH St., #14J, NY, NY the LLC served upon him/her to The Arts. of Org. filed with NY Dept. of 7 FINANCIAL INDUSTRY INSIDERS 10011. Purpose: Any lawful purpose. LLC, P O Box 552, NY, NY 10030. State on 8/8/11. Office location: NY WILL DISCUSS: Institutional Sales & Trading General Purposes. County. Princ. bus. addr.: 250 Where are we in the current cycle? Is Developer Notice of Formation of Paradise Gibraltar Rd., Horsham, PA 19044. Jerome, LLC. Articles of Org. filed this a blip in the recovery or is the (Citadel LLC - New York, NY) Play key NOTICE OF FORMATION OF Sue Sec. of State designated agent of with Secy. of State of NY (SSNY) on Panzer Consulting LLC. Arts of Org LLC upon whom process against it secular bear market reasserting itself? role in architecture, design, & dvlpmnt 07/13/11. Office loc.: NY Co. SSNY filed with the Secy of State of NY of firm’s next gen multi-asset sales & may be served and shall mail Considering your view, do you think designated as agent of LLC upon (SSNY) on 8/8/11. Office loc: NY Cty. process to: c/o CT Corporation today’s market is overvalued, underval- trading platform. Req’s Bach’s degr or whom process against it may be SSNY designated as agent upon System, 111 8th Ave., NY, NY 10011. ued or just right? Has the economic foreign equiv in Comp Sci, Eng or rel served. SSNY shall mail process to the whom process may be served and Purpose: any lawful activity. model that drove the long term boom field & 5 yrs exp in each of the follow- LLC, c/o Robinson Brog, et al., Attn: shall mail a copy of any process to Neil S. Goldstein, Esq., 875 Third Ave., from the 1980s to 2008 broken down? ing: C#/.NET in a high-performance, the principal business address: 200 OPPCAP GROUP LLC, a foreign high-availability, multi-threaded envi- 9th Fl, New York, NY 10022. Purpose: W. 79th St, Apt. 15K, NY, NY 10024. Limited Liability Company (LLC) filed Where are the strongest opportunities any lawful act or activity. Purpose: any lawful acts. and the most glaring vulnerabilities? ron; finan products in either Equities or with the Sec of State of NY (SSNY) on 4/15/11. NY office Location: New When: Wednesday, October 5, 2011 Fixed Income; & dvlping client-server Notice of Formation of 53 Broadway apps using multi-tiered architectures & Notice of Formation of Partyology, York County. SSNY is designated as 4:30 p.m. - 8:00 p.m. Where: Sentry Note LLC. Arts. of Org. filed with Secy. LLC. Articles of Org. filed with Secy. agent upon whom process against Center, 750 Third Avenue, 45-46th distributed back-end services. Must also of State of NY (SSNY) on 8/8/11. of State of NY (SSNY) on 04/27/11. have 2 yrs exp dvlping WPF/Winform the LLC may be served. SSNY shall Street, New York, NY 10017. General Office location: NY County. SSNY Office loc.: NY Co. SSNY designated mail a copy of any process against the designated as agent of LLC upon apps. Resumes: ER/EH, Attn: R-0158, as agent of LLC upon whom process LLC served upon him/her to Francis Price: $175 Member Price: $125 whom process against it may be Citadel LLC, 131 S. Dearborn St, 32nd against it may be served. SSNY shall Hager, 14 Deer Path Ln., Berkeley Register at www.acgnyc.org served. SSNY shall mail process to: Fl, Chicago, IL 60603. mail process to the LLC, c/o Hts., NJ 07922. General purposes. c/o The LLC, 711 Fifth Ave., NY, NY Robinson Brog, et al., Attn: Marshall 10022. Purpose: any lawful activity. J. Gluck, Esq., 875 Third Ave, 9th Fl, Notice of Qualification of GENERAL New York, NY 10022. Purpose: any SMALL BUSINESS PARTNER, LLC. NOTICE OF FORMATION of STORE- REAL ESTATE lawful act or activity. Authority filed with Secy. of State of FRONT SCIENCE, LLC. Article of NY (SSNY) on 8/23/11. Office location: Organization filed with Sec’y of State NOTICE OF FORMATION of SMART NY County. LLC formed in Delaware LUXURY PROPERTY of NY (SSNY) on 08/19/2011. Office AGE SOLUTIONS, LLC. Articles of Org. (DE) on 3/17/11. Princ. office of LLC: FOR SALE / EAST HAMPTON Location: NY County. SSNY has been filed with Secy. of State of NY (SSNY) c/o Healthcare Finance Group, LLC, designated as agent of the LLC upon on 05/06/11. Office location: New York 199 Water St., 31st Fl., NY, NY 10038. whom process against it may be served. County. SSNY designated as agent of SSNY designated as agent of LLC SSNY shall mail process to: The LLC, LLC upon whom process against it may upon whom process against it may be 730 Ft. Washington Ave, 6C, NY, NY be served. SSNY shall mail process served. SSNY shall mail process to 10040. Purpose: any lawful activities. to: Emmanuel Raheb, 1212 Avenue the LLC at the addr. of its princ. office. of the Americas, New York, NY 10036. DE addr. of LLC: c/o Corporation NOTICE OF FORMATION OF Answer Purpose: Any lawful activity. Service Co., 2711 Centerville Rd., Ste. Tree Genealogy, LLC. Arts of Org 400, Wilmington, DE 19808. Cert. of filed with the Secy of State of NY NOTICE OF FORMATION OF Jessica Form. filed with Secy. of State of DE, (SSNY) on 8/11/11. Ofc. loc. NY Cty. Robinson Jewelry, LLC. Arts of Org Div. of Corps., John G. Townsend Bldg., SSNY designated as agent upon filed with the Secy of State of NY 401 Federal St., Ste. 4, Dover, DE whom process may be served and (SSNY) on 08/01/11. Office loc: NY Cty. 19901. Purpose: Any lawful activity. shall mail process to the principal SSNY designated as agent upon whom business addr: Erin Verkhovsky process may be served and shall mail Finelli, Answer Tree Genealogy, 1930 Notice of Qualification of AAA ENERGY process to the principal business OPPORTUNITIES FUND LLC. Authority Broadway, Apt 16G, NY, NY 10023. address: c/o Jessica Robinson, 10 E Purpose: any lawful acts. filed with Secy. of State of NY (SSNY) 13th St, Apt PHG, NY, NY 10003. on 8/12/11. Office location: NY County. Purpose: any lawful acts. Notice of Qualification of GP HOLDCO, LLC formed in Delaware (DE) on LLC. Authority filed with Secy. of 8/10/11. Princ. office of LLC: 1285 PUBLIC & LEGAL NOTICES State of NY (SSNY) on 8/25/11. Notice of Qualification of Extract Ave. of the Americas, NY, NY 10019. Office location: NY County. LLC Capital LP. Authority filed with NY Dept. SSNY designated as agent of LLC Notice of Qualification of HGI Real Notice of Qualification of Ring Capital formed in Delaware (DE) on 3/28/07. of State on 8/24/11. Office location: upon whom process against it may be Estate, LLC. Authority filed with NY LLC. App. for Auth. filed with Secy. SSNY designated as agent of LLC NY County. LP formed in DE on 4/5/11. served. SSNY shall mail process to: Dept. of State on 8/4/11. Office of State of NY (SSNY) on 6/15/11. upon whom process against it may NY Sec. of State designated agent of c/o Corporation Service Co., 80 State location: NY County. LLC formed in Office location: NY County. LLC be served. SSNY shall mail process LLC upon whom process against it St., Albany, NY 12207, regd. agent DE on 6/24/11. NY Sec. of State formed in Delaware (DE) on 3/15/11. to c/o Corporation Service Co. may be served and shall mail process upon whom and at which process may designated agent of LLC upon whom SSNY designated as agent of LLC (CSC), 80 State St., Albany, NY to the principal business addr.: 55 be served, as amended by Cert. of process against it may be served and upon whom process against it may be 12207, regd. agent upon whom and Fifth Ave., Ste. 1702, NY, NY 10003. Change filed with SSNY on 8/23/11. shall mail process to: CT Corporation served. SSNY shall mail process to: at which process may be served. DE DE addr. of LP: c/o The Corporation DE addr. of LLC: c/o Corporation System, 111 8th Ave., NY, NY 10011. 560 Lexington Ave., 16th Fl., NY, NY addr. of LLC: 2711 Centerville Rd., Trust Co., 1209 Orange St., Service Co., 2711 Centerville Rd., Ste. DE address of LLC: 1209 Orange St., 10022. DE address of LLC: 615 South Ste. 400, Wilmington, DE 19808. Wilmington, DE 19801. Name/addr. 400, Wilmington, DE 19808. Cert. of Wilmington, DE 19801. Cert. of DuPont Hwy., Dover, DE 19901. Arts. Cert. of Form. filed with Secy. of of genl. ptr. available from NY Sec. of Form. filed with DE Secy. of State, Div. Form. filed with DE Sec. of State, of Org. filed with DE Secy. of State, State of DE, Townsend Bldg., State. Cert. of LP filed with DE Sec. of Corps., John G. Townsend Bldg., 401 Federal St., Dover, DE 19901. Townsend Bldg., Dover, DE 19901. Federal & York, Dover, DE 19901. of State, P.O. Box 898, Dover, DE 401 Federal St., Ste. 4, Dover, DE Purpose: any lawful activity. Purpose: any lawful activity. Purpose: Any lawful activity. 19903. Purpose: all lawful purposes. 19901. Purpose: Any lawful activity.

20 | Crain’s New York Business | October 3, 2011 nb40p20-22cl.qxp 9/30/11 2:15 PM Page 21

PUBLIC & LEGAL NOTICES

NOTICE OF QUALIFICATION of Notice of Formation of BESPOKE Notice of Qualification of Queenscliff NOTICE OF QUALIFICATION of Notice of Qualification of Lipstick Adakin Masters, LLC. Authority filed THEATRICALS LLC. Arts. of Org. filed Fund LP. App. for Auth. filed with DMW3 Associates, LLC. App for Management LLC. Authority filed with Secretary of State of NY (SSNY) with Secy. of State of NY (SSNY) on Secy. of State of NY (SSNY) on Auth filed with the Secy of State of with Secy. of State of N.Y. (SSNY) on on 08/01/11. Office location: NY 8/9/11. Office location: NY County. 8/11/11. Office location: NY County. NY (SSNY) on 7/21/11. Office loc: NY 5/26/11. Office location: New York County, LLC formed in Delaware (DE) Princ. office of LLC: 230 W. 41st St., LP formed in Delaware (DE) on 6/7/11. Cty. LLC formed CT on 5/5/11. SSNY County. LLC formed in Delaware (DE) on 07/15/11. SSNY designated as Ste. 1703, NY, NY 10036. SSNY des- SSNY designated as agent of LP upon designated as an agent upon whom on 11/12/10. SSNY designated as agent of LLC upon whom process ignated as agent of LLC upon whom whom process against it may be process may be served and shall mail agent of LLC upon whom process against it may be served and shall mail process against it may be served. SSNY served. SSNY shall mail process to: process to the principal business against it may be served. SSNY shall process to the principal business addr.: shall mail process to M. Graham 900 Third Ave., Ste. 201-10, NY, NY address: 28 Tarrywile Lake Rd, mail process to: c/o Stern & Zingman 212 E. 39th St., NY, NY 10016, Attn: Coleman, Esq., Davis Wright Tremaine 10022. DE address of LP: National Danbury, CT 06810. CT address of LLP, 331 Madison Ave., 2nd Fl., NY, Jonathan D. Abbey, regd. agt. upon LLP, 1633 Broadway, 27th Fl., NY, NY Corporate Research, Ltd., 615 South LLC: 28 Tarrywile Lake Rd, Danbury, NY 10017. DE address of LLC: c/o whom process may be served. DE 10019. Purpose: Any lawful activity. DuPont Hwy., Dover, DE 19901. CT 06810. Certificate of LLC filed Corporate Creations Network Inc., addr. Of LLC: 160 Greentree Drive, Name/address of each genl. ptr. with Secy of State of CT located at 3411 Silverside Rd., Rodney Bldg Suite 101, Dover, DE 19904. Arts. of Notice of Formation of SM 64TH available from SSNY. Cert. of LP filed Office of the Secy of State, State of #104, Wilmington, DE 19810. Arts. of Org. filed with DE Sec. of State, 401 STREET HOLDINGS LLC. Arts. of with DE Secy. of State, Townsend CT, 30 Trinity St. Hartford, CT 06115. Org. filed with DE Secy. of State, Federal St., Ste. 4, Dover, DE 19901. Org. filed with Secy. of State of NY Bldg., Dover, DE 19901. Purpose: Purpose: any lawful acts. Townsend Bldg., Dover, DE 19901. Purpose: any lawful activity. (SSNY) on 8/5/11. Office location: NY any lawful activity. Purpose: any lawful activity. County. SSNY designated as agent Notice of Formation of 15 Vellano Notice of Formation of NUMBER of LLC upon whom process against Notice of Mediactive Group LLC filed Drive LLC. Arts. of Org. filed with Secy. P-S-P SERVICES, LLC, a domestic TWENTY LLC. Arts. of Org. filed with it may be served. SSNY shall mail with the Secy. of State of NY (SSNY) of State of NY (SSNY) on 7/29/11. Limited Liability Company (LLC), Secy. of State of NY (SSNY) on process to: c/o Cooley LLP, 1114 on August 26, 2011. Office location: Office location: NY County. SSNY filed with the Sec of State of NY on 9/9/11. Office location: NY County. Ave. of the Americas, 46th Fl., NY, New York County. SSNY designated designated as agent of LLC upon 5/2/11. NY Office location: New Princ. office of LLC: 149 Madison NY 10036, Attn: Benjamin Pierson, as agent of LLC upon whom process whom process against it may be York County. SSNY is designated as Ave., 7th Fl., NY, NY 10016. SSNY Esq. Purpose: any lawful activity. against it may be served. SSNY shall served. SSNY shall mail process to: agent upon whom process against designated as agent of LLC upon mail process to: Barton Barton & c/o Shamberg Marwell Davis & Hollis, the LLC may be served. SSNY shall whom process against it may be Notice of Formation of EGA76, LLC. Plotkin LLP, 420 Lexington Avenue, 55 Smith Ave., Mt. Kisco, NY 10549, mail a copy of any process against served. SSNY shall mail process to Arts. of Org. filed with Secy. of State 18th Floor, New York, New York. Attn: John S. Marwell, Esq. Purpose: the LLC served upon him/her to The the LLC at the addr. of its princ. of NY (SSNY) on 8/15/11. Office Purpose: any lawful activity. any lawful activity. LLC, 327 W. 36th St., Ste. 400, NY, office. Purpose: Any lawful activity. location: NY County. Princ. office of NY 10018. General Purposes. Latest NOTICE OF FORMATION OF Tripp LLC: 1057 First Ave., NY, NY 10022. Notice of Formation of 22 ML Group, date to dissolve 5/2/2041. Capital LLC. Arts of Org filed with the Notice of Qualification of 29 West 57th SSNY designated as agent of LLC LLC. Arts. of Org. filed with NY Dept. Secy of State of NY (SSNY) on NOTICE OF FORMATION OF Classic Street Owner LLC. Authority filed with upon whom process against it may be of State on 5/24/11. Office location: 7/21/11. Office location: NY County. Art International LLC. Arts of Org NY Dept. of State on 12/10/08. Office served. SSNY shall mail process to NY County. Princ. bus. addr.: 600 SSNY has been designated as agent filed with the Secy of State of NY location: NY County. Princ. bus. addr.: Janet Giaimo Vitale at the princ. office Madison Ave., 17th Fl., NY, NY 10022. upon whom process may be served (SSNY) on 7/8/11. Office location: NY 210 Route 4 East, Paramus, NJ 07652. of the LLC. Purpose: Any lawful activity. Sec. of State designated agent of LLC LLC formed in DE on 3/9/06. NY Sec. and shall mail a copy of any process upon whom process against it may Cty. SSNY designated as agent upon to the principal business address: be served and shall mail process to: whom process may be served and of State designated agent of LLC upon Notice of Formation of NORTH whom process against it may be served 125 E. 82nd St - 9th Fl, NY, NY c/o CT Corporation System, 111 8th shall mail process to the principal CHELSEA CONSTRUCTION COM- 10028. Purpose: any lawful acts. business address: 3467 Eastchester and shall mail process to: c/o CT PANY, LLC. Arts. of Org. filed with Ave., NY, NY 10011, regd. agent Corporation System, 111 8th Ave., NY, upon whom process may be served. Road #6D; Bronx, NY 10469. Secy. of State of NY (SSNY) on NOTICE OF FORMATION OF MAXIM Purpose: any lawful acts. NY 10011, regd. agent upon whom 9/14/11. Office location: NY County. Purpose: any lawful activity. process may be served. DE addr. of INSTITUTE, LLC. Articles of Org. filed Princ. office of LLC: 60 Columbus NY Secy. of State (SSNY) 7/6/2011, NOTICE OF FORMATION OF Blue LLC: 1209 Orange St., Wilmington, DE Circle, NY, NY 10023. SSNY designated NOTICE OF FORMATION OF Office in NY Co. SSNY designated Roubaix Bike Lounge. Triple Eight LLC. Arts of Org filed with 19801. Arts. of Org. filed with DE Sec. as agent of LLC upon whom process Articles of of State, 401 Federal St., Dover, DE agent of LLC upon whom process Organization filed with the Secretary the Secy of State of NY (SSNY) on against it may be served. SSNY shall may be served. SSNY shall mail copy 06/24/11. Office loc: NY Cty. SSNY 19901. Purpose: any lawful activity. mail process to c/o Corporation of State of NY (SSNY) on June 23, of process to the LLC 41 Elizabeth 2011. Office location: NEW YORK designated as agent upon whom Service Co., 80 State St., Albany, NY St, Ste 505, NY, NY 10013. Purpose: process may be served and shall mail NOTICE OF FORMATION OF Lyn-Genet 12207. Purpose: Any lawful activity. County. SSNY has been designated The Plan LLC. Arts of Org filed with any lawful act. as agent upon whom process process to: 1170 Peachtree St NE, the Secy of State of NY (SSNY) on against it may be served. The Post Ste 1750, Atlanta, Georgia 30309. FASHION FINDERS LLC, a domestic Notice of Formation of TWO HUSTLERS The principal business address: 415 7/11/11. Office loc: NY Cty. SSNY Limited Liability Company (LLC), filed LLC. Arts. of Org. filed with Secy. of Office address to which the SSNY designated as agent upon whom shall mail a copy of any process Washington St, Ste 1B, NY, NY with the Sec of State of NY on 6/17/11. State of NY (SSNY) on 8/17/11. 10013. Purpose: any lawful acts. process may be served and shall mail NY Office location: New York County. Office location: NY County. Princ. against the LLC served upon him/her process to the principal business is: 223 West 21st. Street, Apt. 5L, SSNY is designated as agent upon office of LLC: 29 Greene St., NY, NY STEVEN J. POSKAR M.D., PLLC, a address: United States Corporation New York, NY 10011. The principal whom process against the LLC may 10013. SSNY designated as agent of domestic Professional Limited Agents, Inc. 7014 13th Ave. Suite 202, business address of the LLC is: to be served. SSNY shall mail a copy of LLC upon whom process against it Liability Company (PLLC), filed with Brooklyn, NY 11228. Purpose: any be determined in New York City. any process against the LLC served may be served. SSNY shall mail the Sec of State of NY (SSNY) on lawful acts. Purpose: any lawful act or activity. upon him/her to The LLC, 425 E. 58th process to Davis Wright Tremaine 8/16/11. NY office Location: New St., NY, NY 10022. General Purposes. LLP, 1633 Broadway, 27th Fl., NY, NY Notice of Formation of 147 West 86 York County. SSNY is designated as NOTICE OF FORMATION of CYNTHIA 10019. Purpose: Any lawful activity. Street LLC. Arts. of Org. filed with agent upon whom process against E SEIDMAN RD, LLC. Arts. Of Org. Notice of Formation of ICER OF the PLLC may be served. SSNY shall filed with Secy. Of State of NY (SSNY) 2159 FIFTH AVENUE LLC. Arts. of Notice of Formation of Kyriaki Design Secy. of State of NY (SSNY) on 8/30/11. Office location: NY Co. SSNY desig- mail a copy of any process against on 9/7/11. Office Location: NY County. Org. filed with Secy. of State of NY Group LLC. Arts. of Org. filed with the PLLC served upon him/her to Princ. Office of LLC: 411 E. 57th St., (SSNY) on 6/29/11. Office location: Secy. of State of NY (SSNY) on nated as agent of LLC upon whom process against it may be served. Steven Poskar, 901 5th Ave., NY, NY 15E, NY, NY 10022. SSNY designated NY Co. SSNY designated as agent 8/4/11. Office location: NY County. 10021. Purpose: Medicine. as agent of LLC upon whom process of LLC upon whom process against SSNY designated as agent of LLC SSNY shall mail process to: The LLC, against it may be served. SSNY shall it may be served. SSNY shall mail upon whom process against it may 340 West 86th St., Apt. 11A, NY, NY Notice of Formation of PACT13 LLC. mail process to Corporation Service process to: The LLC, 1385 Broadway, be served. SSNY shall mail process 10024. Purpose: any lawful activities. Arts. of Org. filed with Secy. of State Co. 80 State St., Albany, NY 12207. 16th Fl., NY, NY 10018. Purpose: to: The LLC, 44-02 23rd St., 508, Notice of Qual. of TS Leasing LLC, of NY (SSNY) on 9/8/11. Office loca- Purpose: Any lawful activity. any lawful activities. Long Island City, NY 11101. tion: NY County. SSNY designated Auth. filed Sec’y of State (SSNY) Purpose: any lawful activity. as agent of LLC upon whom process 5/26/11. Office loc.: NY County. LLC Notice of Formation of Town 79th Notice of Formation of ELLDAV against it may be served. SSNY shall org. in DE 5/23/11. SSNY desig. as Street, LLC. Arts. of Org. filed with ENTERPRISES, LLC. Arts. of Org. filed Notice of Formation of Local mail process to: 187 Lafayette St., agent of LLC upon whom process Secy. of State of NY (SSNY) on with Secy. of State of NY (SSNY) on Telecommunications Services - NY, 4th Fl., NY, NY 10013. Purpose: any against it may be served. SSNY shall 5/27/11. Office location: NY Co. SSNY 8/9/11. Office location: NY County. LLC. Arts. of Org. filed with Secy. of lawful activity. designated as agent of LLC upon Princ. office of LLC: c/o Leo State of NY (SSNY) on 6/17/11. Office mail copy of proc. to Daniel Abrams, whom process against it may be Schachter Diamonds, LLC, 529 Fifth location: NY County. SSNY designated Atrium Holding Co., 1114 Ave of the SUTTON EQUITY INVESTMENTS served. SSNY shall mail process to: Ave., NY, NY 10017. SSNY designated as agent of LLC upon whom process Americas, 39th Fl., NY, NY 10036, the LLC, a domestic LLC. Arts. of Org. c/o National Registered Agents, Inc., as agent of LLC upon whom process against it may be served. SSNY shall Reg. Agt. upon whom proc. may be filed with the SSNY on 08/16/2011. 875 Ave. of the Americas, Ste. 501, against it may be served. SSNY shall mail process to: The LLC, 51 E. 42nd served. DE off. addr.: 160 Greentree Office location: NY County. SSNY NY, NY 10001, also the registered mail process to Stanley D. Friedman, St., Ste. 411, NY, NY 10017. Dr., Ste. 101, Dover, DE 19904. Cert. has been designated as agent upon agent. Purpose: any lawful activities. Esq., McAloon & Friedman, P.C., 123 Purpose: any lawful activity. of Form. on file: SSDE, Townsend whom process against the LLC may William St., NY, NY 10038. Purpose: Bldg., Dover, DE 19901. Purp.: any be served. SSNY shall mail process Notice of Qualification of Any lawful activity. Notice of Qualification of Krossover lawful activities. to: 411 E 53rd St. 6G, NY, NY 10022. Knickerbocker Hotel Leasing GP, Entertainment, LLC. Fictitious name: Purpose: Any Lawful Purpose. L.L.C. Authority filed with NY Dept. Notice of Qualification of IndCor KOE LLC. Authority filed with Secy. of Notice of Qualification of MBD 2011 of State on 7/25/11. Office location: Management - Allagash, L.P. Authority State of NY (SSNY) on 7/20/11. Office Holdings, L.P. App. for Auth. filed Notice of Qualification of Stonepeak NY County. Princ. bus. addr.: 545 E. filed with NY Dept. of State on 8/5/11. location: NY County. LLC formed in with Secy. of State of NY (SSNY) on Associates LLC. Authority filed with John Carpenter Fwy., Ste. 1300, Office location: NY County. Princ. bus. Delaware (DE) on 8/10/05. SSNY 7/11/11. Office location: NY County. NY Dept. of State on 8/15/11. Office Irving, TX 75062. LLC formed in DE addr.: 2 N. Riverside Plz., Ste. 2100, designated as agent of LLC upon LP formed in Cayman Islands (CI) on location: NY County. Princ. bus. addr.: on 7/22/11. NY Sec. of State desig- Chicago, IL 60606. LP formed in DE whom process against it may be 5/31/11. SSNY designated as agent 717 5th Ave., 14th Fl., NY, NY 10022. nated agent of LLC upon whom on 5/23/11. NY Sec. of State designat- served. SSNY shall mail process to: of LP upon whom process against it LLC formed in DE on 7/26/11. NY Sec. process against it may be served ed agent of LP upon whom process Adam W. Rosen, Esq., 9454 Wilshire may be served. SSNY shall mail of State designated agent of LLC upon and shall mail process to: c/o CT against it may be served and shall Blvd., Penthouse, Beverly Hills, CA process to: 200 West St., NY, NY whom process against it may be served Corporation System, 111 8th Ave., mail process to: CT Corporation 90212. Principal office address: 10282. CI address of LP: Maples and shall mail process to: c/o CT NY, NY 10011, regd. agent upon System, 111 8th Ave., NY, NY 10011. 1880 Century Park E., Ste. 1600, Corporate Services Ltd., P.O. Box Corporation System, 111 8th Ave., N Y, whom process may be served. DE DE addr. of LP: The Corporation Trust Los Angeles, CA 90067. Address to 309, Ugland House, Grand Cayman, NY 10011, regd. agent upon whom addr. of LLC: c/o The Corporation Co., 1209 Orange St., Wilmington, DE be maintained in DE: Corporation KY1-1104, CI. Name/address of each process may be served. DE addr. of Trust Co., 1209 Orange St., 19801. Name/addr. of genl. ptr. avail- Trust Center, 1209 Orange St., genl. ptr. available from SSNY. Cert. of LLC: c/o The Corporation Trust Co., Wilmington, DE 19801. Cert. of able from NY Sec. of State. Cert. of Wilmington, DE 19801. Arts of Org. LP filed with Registrar of Exempted 1209 Orange St., Wilmington, DE Form. filed with DE Sec. of State, LP filed with DE Sec. of State, 401 filed with the DE Secretary of State, LPs, Elizabethan Sq., 4th Fl., Phase 19801. Cert. of Form. filed with DE Sec. 401 Federal St., Dover, DE 19901. Federal St., Dover, DE 19901. PO Box 898, Dover, DE 19903. Four, George Town, Grand Cayman, of State, 401 Federal St., Dover, DE Purpose: all lawful purposes. Purpose: all lawful purposes. Purpose: any lawful activities. CI. Purpose: any lawful activity. 19901. Purpose: any lawful activity.

October 3, 2011 | Crain’s New York Business | 21 nb40p20-22cl.qxp 9/30/11 2:16 PM Page 22

PUBLIC & LEGAL NOTICES

NOTICE OF QUALIFICATION of Notice of Qualification of U.S. Notice of Qualification of Top Hat Notice of Qualification of BNP Paribas NOTICE OF QUALIFICATION OF Brightwood Capital SBIC I, LP. Residential Group LLC. Authority Photo Booths, LLC. Authority filed VPG Master, LLC. Authority filed with Halcyon Management Acquisition Application for Authority filed with the filed with Secy. of State of NY (SSNY) with NY Dept. of State on 8/11/11. NY Dept. of State on 8/17/11. Office Company LLC. App. for Authority filed Secretary of State of New York (SSNY) on 8/8/11. Office location: NY County. Office location: NY County. Princ. location: NY County. Princ. bus. addr.: with the Sect. of State of NY (SSNY) on 08/16/2011. Office location: New LLC formed in Texas (TX) on 7/12/11. Bus. Address 19 Lockhart Ln., 787 7th Ave., NY, NY 10019. LLC on 8/9/11. N.Y. Office Loc: NY County. York County. LP formed in DE on SSNY designated as agent of LLC Pemaquid, ME 04558. LLC formed in formed in DE on 2/4/10. NY Sec. of LLC formed in DE on 12/8/2009. SSNY 03/14/2011. SSNY has been designated upon whom process against it may SD on 1/19/11. NY Sec. of State State designated agent of LLC upon has been designated as agent of LLC as an agent upon whom process be served. SSNY shall mail process designated agent of LLC upon whom whom process against it may be upon process against it may be served against it may be served. The Post to: The LLC, 4100 Midway Rd., process against it may be served served and shall mail process to: c/o and shall mail process to: c/o Walkers Office address to which the SSNY shall Carrollton, TX 75007, also the prin- and shall mail process to: Robert B. CT Corporation System, 111 8th Ave., Corporate Services Delaware Ltd. 200 mail a copy of any process against cipal office address and address to Lockhart, Sr., 19 Lockhart Ln., NY, NY 10011, regd. agent upon whom Bellevue Pkwy, Ste 170, Wilmington, the LP served upon him/her is: c/o CT be maintained in TX. Arts of Org. Pemaquid, ME 04558. Articles of process may be served. DE addr. of DE 19809. DE addr. of LLC: 200 Corporation System, 111 Eighth filed with the TX Secretary of State, Organization filed with SD Sec. of LLC: 1209 Orange St., Wilmington, DE Bellevue Pkwy, Ste 170, Wilmington, Avenue, New York, NY 10011. The 1019 Brazos, Austin, TX 78701. State, 500 E Capital Ave., Pierre SD 19801. Cert. of Form. filed with DE Sec. 19809. Cert. of Form. filed with DE principal business address of the LP Purpose: any lawful activities. 57501. Purpose: all lawful purposes. of State, 401 Federal St., Dover, DE Sect. of State, PO Box 898, Dover, DE is: 1221 Avenue of the Americas, 15th 19901. Purpose: all lawful purposes. 19903. Purpose: any lawful activity. Floor, New York, NY 10020. Delaware NOTICE OF FORMATION OF LIMITED Notice of Formation of Fresco Capital address of LP: c/o The Corporation LIABILITY COMPANY. NAME: Partners, LLC. Arts. of Org. filed Notice of Formation of Col Kagen NOTICE OF FORMATION of FGNY Trust Company, 1209 Orange Street, ABSOLUTE BEST CARE TRADEMARKS, with Secy. of State of NY (SSNY) on LLP. Cert. of Reg. filed with Secy. of 2847 Broadway, LLC, Arts of Org files Wilmington, DE 19801. Certificate of LLC. Articles of Organization were 06/30/11. Office location: NY State of NY (SSNY) on 9/16/11. Office w SSNY on 6/29/10 in NY Co. SSNY LP filed with Secretary of State of filed with the Secretary of State of County. SSNY designated as agent location: NY County. Princ. office of designated as agent upon whom Delaware located at: Federal and Duke New York (SSNY) on 07/15/11. Office of LLC upon whom process against LLP: 570 Lexington Ave., Ste. 1600, NY, process may be served and shall mail of York Streets, Dover, DE 19901. location: New York County. SSNY has it may be served. SSNY shall mail NY 10022. SSNY designated as agent a copy of any process to CSC, 80 Purpose: any lawful act or activity. been designated as agent of the LLC process to LLC: 36 Sutton Place of LLP upon whom process against it State St., Albany, NY 12207. Principal upon whom process against it may be South, Apt 8B, NY, NY 10022. may be served. SSNY shall mail bus. address: 2847 B’dway, NYC GLENER HOLDINGS LLC, a domestic served. SSNY shall mail a copy of Purpose: any lawful activity. process to the LLP at the addr. of its 10025. Purpose: any lawful act. Limited Liability Company (LLC), filed process to the LLC, 274 Madison princ. office. Purpose: Law practice. with the Sec of State of NY on 8/12/11. Avenue, New York, New York 10016. Notice of Formation of Times Scare Notice is hereby given that a license NY Office location: New York County. Purpose: For any lawful purpose. NYC LLC. Arts. of Org. filed with FURTHER LANE FARM, LLC Articles (#TBA) for BEER & WINE has been SSNY is designated as agent upon Secy. of State of NY (SSNY) on of Org. filed NY Sec. of State (SSNY) applied for by 1111 LEXINGTON whom process against the LLC may Name: RAREBIT STUDIO LLC Art. 9/13/11. Office location: NY Co. SSNY 8/23/2011. Office in NY Co. SSNY TAQUERIA LLC at retail, in a be served. SSNY shall mail a copy of Of Org. Filed Sec. Of State of NY designated as agent of LLC upon desig. agent of LLC upon whom Restaurant, under the ABC Law at any process against the LLC served 05/16/2011. Off Loc.: New Yok Co. whom process against it may be process may be served. SSNY shall 1111 LEXINGTON AVE. NY, NY upon him/her to Regosin Edwards SSNY designated as agent upon whom served. SSNY shall mail process to: mail copy of process to 1619 10075 for on-premises consumption. Stone & Feder, 225 Broadway, Ste. 613, process against it may be served. Frank Cresci Jr., 300 W 43rd St., #400, Broadway, 10th Flr., NY, NY 10019, NY, NY 10007. General Purposes SSNY to mail copy of process to THE NY, NY 10036, also the registered which is also the principal business Notice is hereby given that a license LLC C/O Nigel Warren, 184 East 2nd agent. Purpose: any lawful activities. location. Purpose: Any lawful purpose. (#TBA) for LIQUOR has been applied Notice of Formation of 1510 2nd Street, Apt 5G, New York, NY 10009. for by WOLF WESTSIDE LLC at retail, Avenue LLC amended to BLDG 1510 Purpose: Any lawful act or activity. Notice of Formation of Gotham Gas Notice of Formation: Articles of in a Restaurant, under the ABC Law 2ND AVENUE LLC. Arts. of Org. filed & Electric LLC. Arts. of Org. filed with Organization of WEDONYC, LLC filed at 620 8 AVE. RETAIL SPACE C NY, NY with Secy. of State of NY (SSNY) on Notice of Formation of RHAPSODIE 2, Secy. of State of NY (SSNY) on with the Sec’y of State of NY (SSNY) 10018 for on-premises consumption. 8/12/11. Office location: NY County. LLC. Arts. of Org. filed with Secy. of 8/23/11. Office location: NY County. on 8/15/11. Office location is NY SSNY designated as agent of LLC State of NY (SSNY) on 9/19/11. Office SSNY designated as agent of LLC County. SSNY is Agent for Service of NOTICE OF FORMATION OF DRYBAR upon whom process against it may location: NY County. Princ. office of upon whom process against it may Process, copy of process to: 300 56th STREET LLC. Arts of Org filed be served. SSNY shall mail process LLC: Sanders Ortoli Vaughn-Flam be served. SSNY shall mail process Madison Ave., Ste 1600, Toledo, OH with the Secy of State of NY (SSNY) to: BLDG Management Co., Inc., 417 Rosenstadt LLP, 501 Madison Ave., to: The LLC, 10115 E Bell Road, Ste. 43604. Principal business office: on 05/20/11. Office loc: Ny Cty. SSNY Fifth Ave., 4th Fl., NY, NY 10016. 14th Fl., NY, NY 10022-5616. SSNY 107-405, Scottsdale, AZ 85260. 1133 Broadway, Ste 1308, N.Y., NY designated as agent upon whom Purpose: any lawful activity. designated as agent of LLC upon Purpose: any lawful activity. 10010. Purpose: any lawful activity. process may be served and shall mail whom process against it may be a copy of any process to: c/o Business 7 WEST 129TH STREET, LLC Articles served. SSNY shall mail process to ML PRESERVATION PARTNERS, LLC, Notice of Formation of Avenue of Filings Inc. 187 Wolf Rd, Ste 101, of Org. filed NY Sec. of State (SSNY) the LLC at the addr. of its princ. a domestic LLC. Arts. of Org. filed Admission LLC. Arts. Of Org. filed with Albany, NY 12205. Principal business 7/22/2011. Office in NY Co. SSNY office. Purpose: Any lawful activity. with the SSNY on 06/23/2011. Office Secy. of State of NY (SSNY) on address: 119 W. 56th Street, NY, NY desig. agent of LLC upon whom location: NY County. SSNY has been 09/26/11. Office location: NY County. 10019. Purpose: any lawful acts. process may be served. SSNY shall Notice of Qualification of Eyefly LLC. designated as agent upon whom SSNY designated as agent of LLC mail copy of process to 2117 5th Ave., Authority filed with NY Dept. of State process against the LLC may be upon whom process against it may be Notice of Formation of CHEN-FA- Apt. #3, NY, NY 10035, which is also on 1/5/11. Office location: NY County. served. SSNY shall mail process to: served. SSNY shall mail process to TSIN-CHU, LLC. Arts. of Org. filed the principal business location. LLC formed in DE on 1/4/11. NY Sec. Keith Chan Peter Lau Wallace LLC: 40 Wall St. 28th Floor, NY, NY with Secy. of State of NY (SSNY) on Purpose: Any lawful purpose. of State designated agent of LLC Giakas, 48 Wall St, 11th Fl, NY, NY 10005. Purpose: any lawful activity. 9/26/11. Office location: NY County. upon whom process against it may be 10005. Purpose: Any Lawful Purpose. Princ. office of LLC: 1540 Second Notice of Formation of CHELSEA served and shall mail process to the Notice of Formation of 2050 FIFTH Ave., NY, NY 10028. SSNY designated Notice of formation of CITY MASSAGE HOME 1 LLC. Arts. of Org. filed with principal business addr.: 42 W. 39th AVENUE, LLC. Arts. of Org. filed as agent of LLC upon whom process THERAPY LLC. Articles of Organiza- Secy. of State of NY (SSNY) on 8/23/11. St., 9th Fl., NY, NY 10016. DE addr. of with the Secy. of State of NY (SSNY) against it may be served. SSNY shall tion filed with the Secretary of State Office location: NY County. Princ. LLC: The Corporation Trust Co., 1209 on 08/16/2011. Office located in NY mail process to Corporation Service of NY (SSNY) on 8/19/2011. Office office of LLC: 305 W. 16th St., 5G, NY, Orange St., Wilmington, DE 19801. County. SSNY has been designated Co., 80 State St., Albany, NY 12207- location: NEW YORK County. SSNY NY 10011-5985. SSNY designated Cert. of Form. filed with DE Sec. of for service of process. SSNY shall 2543. Purpose: Any lawful activity. as agent of LLC upon whom process State, P.O. Box 898, Dover, DE 19903. has been designated as agent upon mail process to: LLC, 159 West 25th against it may be served. SSNY shall Purpose: all lawful purposes whom process against it may be Street - 6FL, NY, NY 10001. Notice of Qualification of mail process to Corporation Service served. The Post Office address to Purpose: Any lawful purpose. WorkflowOne LLC. Authority filed Co., 80 State St., Albany, NY 12257- Notice of Qualification of PDT Capital which the SSNY shall mail a copy of with Secy. of State of NY (SSNY) on 2543. Purpose: Real estate. Group, L.P. App. for Auth. filed with any process against the LLC served Notice of Qualification of ESR HOLDINGS 3/4/11. Office location: NY County. Secy. of State of NY (SSNY) on 7/1/11. upon him/her is: Beatrix Czagany, LLC. Authority filed with Secy. of State LLC formed in Delaware (DE) on Notice of formation of DanceWorks Office location: NY County. LP formed 139 Fulton Street #208, New York, New York City LLC, a foreign limited of NY (SSNY) on 8/5/11. Office location: 2/1/11. Princ. office of LLC: 220 E. in Delaware (DE) on 10/14/10. SSNY NY 10038. Existence is Perpetual. NY County. LLC formed in Delaware Monument Ave., Dayton, OH 45402. liability company. Authority filed with designated as agent of LP upon whom Purpose: any lawful act or activity. Secy of State of NY (SSNY) on (DE) on 10/16/08. Princ. office of LLC: SSNY designated as agent of LLC process against it may be served. 485 Madison Ave., 23rd Fl., NY, NY upon whom process against it may be 07/21/11. Office location: New York SSNY shall mail process to: 1585 Name of LLC: Fit Connect Media County. LLC formed in Massachusetts LLC. Arts. of Org. filed with NY Dept. 10022. SSNY designated as agent of served. SSNY shall mail process to Broadway, 9th Fl., NY, NY 10036, LLC upon whom process against it may c/o Corporation Service Co., 80 State (MA) on 06/16/11. SSNY designated Attn: Dede Welles. DE address of LP: of State: 9/9/11. Office loc.: NY Co. as agent of LLC upon whom process Sec. of State designated agent of LLC be served. SSNY shall mail process to St., Albany, NY 12207-2543. DE addr. 1209 Orange St., Wilmington, DE c/o Corporation Service Co., 80 State of LLC: 2711 Centerville Rd., Ste. 400, against it may be served. SSNY shall 19801. Name/address of each genl. upon whom process against it may mail a copy of any process to the be served and shall mail process to: St., Albany, NY 12207-2543. DE addr. Wilmington, DE 19808. Cert. of Form. ptr. available from SSNY. Cert. of LP of LLC: 2711 Centerville Rd., Ste. 400, filed with DE Secy. of State, Div of principal business address: Attn: Lisa filed with DE Secy. of State, P.O. Box c/o Jessica Underhill, 322 E. 85th St., Mara, 124 Marlborough St. #7, Boston, Apt 2B, NY, NY 10028, regd. agt. Wilmington, DE 19808. Cert. of Form. Corps., Townsend Bldg., Dover, DE 898, Dover, DE 19903. Purpose: any filed with Secy. of State of DE, 401 19901. Purpose: Managed print and MA 02116. Purpose: Dance company. lawful activity. upon whom process may be served. Purpose: any lawful act. Federal St., Ste. 4, Dover, DE 19901. promotional marketing services; Notice of Qualification of SYDLING Notice of Qualification of Tiger Purpose: Any lawful activity. document solutions and services. FUTURES MANAGEMENT LLC. Accelerator Seed Holdings, L.P. Notice of Qualification of West Village Authority filed with Secy. of State of NY Authority filed with NY Dept. of State Residences LLC. Authority filed with (SSNY) on 8/5/11. Office location: NY on 6/3/11. Office location: NY County. Secy. of State of NY (SSNY) on Place your business card in County. LLC formed in Delaware (DE) LP formed in DE on 5/26/11. NY Sec. 9/12/11. Office location: NY County. on 8/4/11. Princ. office of LLC: Attn: of State designated agent of LP upon LLC formed in Delaware (DE) on Crain’s Business Connection and Jerry Pascucci, 1285 Ave. of the whom process against it may be 9/9/11. SSNY designated as agent of reach New York City’s Americas, NY, NY 10019. SSNY served and shall mail process to: LLC upon whom process against it designated as agent of LLC upon Tiger Accelerator L.L.C., c/o Tiger may be served. SSNY shall mail Top Level Executives whom process against it may be Management Advisors L.L.C., 101 process to: c/o Rudin Management served. SSNY shall mail process to the Park Ave., NY, NY 10178, principal Co. Inc., 345 Park Ave., 33rd Fl., NY, Don’t miss LLC at the princ. office of the LLC. DE business addr. DE addr. of LP: c/o NY 10154, Attn: William C. Rudin. addr. of LLC: c/o Corporation Service National Registered Agents, Inc., 160 Address to be maintained in DE: c/o Co., 2711 Centerville Rd., Ste. 400, Greentree Dr., Ste. 101, Dover, DE National Registered Agents, Inc., 160 Book of Lists! Wilmington, DE 19808. Cert. of Form. 19904. Name/addr. of genl. ptr. Greentree Dr., Ste. 101, Dover, DE filed with DE Secy. of State, Div. of available from NY Sec. of State. Cert. 19904. Arts of Org. filed with the DE Corps., John G. Townsend Bldg., 401 of LP filed with DE Sec. of State, 401 Secretary of State, Federal & Let Crain’s New York Business Federal St., Ste. 4, Dover, DE 19901. Federal St., Dover, DE 19901. Lockerman Streets, Dover, DE 19901. Purpose: Any lawful activity. Purpose: any lawful activity. Purpose: any lawful activities. help you secure new clients in 2011.

22 | Crain’s New York Business | October 3, 2011 20111003-A--0023-NAT-CCI-CN_-- 9/30/2011 2:42 PM Page 1

idential tower in the borough. into New York. At the peak of the Even well-capitalized REITs market, in 2007, Archstone was REITs ride downturn ease back from time to time. Ava- bought for $22 billion by a group led lonBay—which, unlike its rivals, by Lehman Brothers, whose bank- Continued from Page 1 a site on the Upper West Side, specializes in buying sites and con- rupt estate is currently seeking extremely attractive to such enter- where it plans to build a 230-unit structing rental buildings on buyers for it. AvalonBay and Post prises because of the city’s high rents apartment building.The REIT is in them—recently pulled the plug on a Properties—which owns 138-unit and the fact that its rental market contract to buy another property in site that it had planned to lease on Luminaria, on First Avenue be- holds up even through economic the city and is actively looking at Manhattan’s Far West Side to build tween East 22nd and East 23rd downswings. other acquisitions, Mr. Bracken- a 700-unit luxury rental complex. A streets—were among the first For many years, however, the ridge said. company official said Avalon prefers REITs to build here; AvalonBay city’s steep costs and hard-to-navi- Equity Residential, which is to focus now on the two big projects UNDER NEW OWNERSHIP: built Avalon Riverview 10 years ago gate public approval process for headed by billionaire investor Sam where it already owns the land: In March, UDR paid $261M in Long Island City, Queens. construction largely kept the RE- Zell, made its first purchase here Avalon Willoughby and Avalon for 10 Hanover Square. Now, as long as there is uncer- ITs at bay.Instead, big projects here in 2003, paying $93 million for a West Chelsea. tainty in the markets and lending re- were typically developed by a short property in Hell’s Kitchen. It now mains tight, REITs will find oppor- list of local titans: outfits such as boasts 15 New York buildings, in- Back in action tunities. The Related Companies and Extell cluding several that it constructed— AvalonBay and the other top Archstone-Smith Trust,based in “We look forward to a bright fu- Development, or powerful real es- among them The Brooklyner, REITs are reigniting a market push Colorado, was one of the first such ture here in New York,” said UDR’s tate families like the Dursts and the which at 51 stories is the tallest res- that began more than a decade ago. publicly traded investors to dip a toe Mr. Toomey. Ⅲ Rudins. The recession opened the door. Falling property prices and cheaper construction costs made getting into the New York residential market worth the hassles. “REITs have found their way into New York and are expanding,” said Anthony Paolone,executive director of Americas Equity Research at JPMorgan Chase & Co. The latest example is Denver- based UDR. In March, the company paid $261 million for 493-unit 10 Hanover Square, a financial district property. Since then, the company has spent close to $1 billion on residential properties in Manhattan,including Dwell95 in the financial ‘We perform best when the economy is wobbling’

district, Rivergate in Murray Hill and 21 Chelsea. “We perform best when the economy is wobbling,” said Tom Toomey, chief executive of UDR, which has a market capitalization of $5 billion. To demonstrate that it’s here to stay, the company will spend $40 million to $60 million to renovate 706-unit Rivergate over the next few years. UDR is hoping to follow the same path as Chicago-based Equity Residential and Virginia-based AvalonBay,which have market caps of $16 billion and $11 billion, respectively. Each has been a New York City landlord since the early 2000s. In Macklowe’s wake In 2010, Equity Residential emerged from a two-year buying hiatus here, purchasing three Man- hattan apartment buildings from beleaguered developer Harry Mack- lowe for $475 million. “We were able to move quickly at a time when capital was not available,” said Alec Brackenridge, a senior vice president at Equity Residential, noting that despite its size, the deal required no outside financing. Most recently, Equity Residen- tial paid $76.5 million last week for

October 3, 2011 | Crain’s New York Business | 23 20111003-A--0024-NAT-CCI-CN_-- 9/30/2011 2:42 PM Page 1

they deem an oversupply of parking has begun to turn some lots into Manhattan’s minimums were re- at large developments. low-income housing and senior placed with a cap decades ago to Plenty of parking “We’ve asserted that limiting centers, but has retained subsidized comply with the Clean Air Act. It parking supply can be a valuable tool parking for residents. was the city’s first acknowledgment Continued from Page 1 garages in neighborhoods bordered to encourage mass transit,”said Paul Much of the zoning approved in that garages encouraged driving. AvalonBay Communities Inc. “The by car-packed curbs, but a policy Steely White, executive director of the era of master planner Robert However,when Mr.Bloomberg’s garage is not something we would that seems to be at odds with May- Transportation Alternatives. “[The Moses remains intact. The glut can sustainability blueprint, PlaNYC have built if we were not required to.” or Michael Bloomberg’s vision of a city’s] point of view is people will be traced to requirements that for 2030, was issued in 2007, efforts to Most car-owning New Yorkers sustainable city that rationally allo- own cars and drive,no matter what.” every 10 rental units developers change parking lot mandates were live by the dictates of alternate-side cates precious resources and re- build outside Manhattan, they must suppressed,said Rachel Weinberger, parking,anxiously circling for a spot moves barriers to business. Building the bare minimum provide four parking spaces— an urban planning professor at the or double-parking until the sweeper The Department of City Plan- That was the prevailing view sometimes more. A study by New University of Pennsylvania hired by makes its rounds.Off the streets and ning knows its 1950s-era parking when zoning was crafted decades York University’s Furman Center the city to consult on parking policy. under buildings, however, exists a requirements are outdated and is ago requiring public housing proj- for Real Estate and Urban Policy “There was a lot of pushback from glut of parking spaces, built not to preparing to issue recommenda- ects built after 1951 to include park- found that developers universally the Department of Transportation accommodate demand but to com- tions for Manhattan and “inner- ing lots. As a result, two-thirds of build the minimum number of at the time,” she said. “The folks at ply with zoning that the city has ring” neighborhoods, such as those the city’s 334 complexes have park- spaces “because they do not think City Hall thought it would be a non- barely updated since the auto boom in western Brooklyn and Queens. ing lots for residents, who pay as lit- the market supports the required starter with the public. People are more than half a century ago. But transportation advocates worry tle as $23 a month for a spot. The amount of parking,”said Vicki Been, very emotional about parking.” The result is not just little-used that reforms will fail to dent what New York City Housing Authority the center’s faculty director. Parking requirements can head off complaints that projects will make spots harder to find (see story, Page 9).But too much parking presents its own problems. Garages near the new Yankee Stadium accommodate nearly 9,000 cars but are never more than 60% full. Advocates warned in a 2006 letter to the City Council that it made no sense to increase parking by 75% for a stadium that would have fewer seats than the old venue, as well as a new Metro- North station and, soon, a mall with 2,600 spaces a few blocks away. Low demand has forced the Bronx Parking Development Co. to dip into its reserves to pay off state- issued debt. It is trying to lure a hotel, which would fill more spots. And its executives are praying for a Bronx World Series. Blacktop city “It’s a good thing people use mass transit,” said Charles Lesnick, a vice president of the company.“It’s probably better if they don’t park.But the question is rightsizing it to make sure it works. Fortunately, we’ve been blessed with playoff and World Series games. We’re not allowed to put them in our projections.” Transportation advocates worry that the glut at Yankee Stadium will be replicated at Atlantic Yards in Brooklyn, which is to have 3,670 parking spots when residential buildings are completed in the project’s second phase.Until then,much of the space next to the site’s arena, the Barclays Center, will be a blacktop parking lot. “If the economic conditions change and phase two of the project doesn’t go forward, you will have this big empty space in the middle of Brooklyn,”said Kate Slevin,executive director of the Tri-State Trans- portation Campaign. A City Planning spokeswoman declined to comment on the policy recommendations it is readying.But sources briefed on the matter said residential garages in Manhattan could be allowed to rent to the public (which many do illicitly), while developments in transit-served areas outside Manhattan may see parking requirements lowered. The reforms could reduce the ex- cess parking that plagues developers like AvalonBay’s Mr. Harris. Then again, he said, it is hard to compete with free curbside parking. “If the spaces on the street cost as much as my spaces,”he said,“I guess I’d be full.” n LISTEN to a discussion at CrainsNewYork.com/podcasts

24 | Crain’s New York Business | October 3, 2011 20111003-A--0025-NAT-CCI-CN_-- 9/30/2011 7:42 PM Page 1

stands both traditional and digital that will be hard to duplicate in 2012, He has also continued investing sales and has evolved the organiza- the company’s worldwide revenues in the print supply chain to ensure Random House tion so it can respond to a market were roughly flat at $1.1 billion. Random House’s role as a leading that’s shifting so dramatically,” said Mr. Dohle declined to comment. distributor for other publishers. As Continued from Page 3 sociation of American Publishers, Lorraine Shanley of consulting firm A spokesman defended the restruc- that business consolidates, Random publishing.“Random House is kind and total sales fell 8% to $2.2 billion. Market Partners International. turing,arguing that Doubleday is still House “will be in a powerful position of the blueprint of a successful 21st Random House’s editorial win- Some other aspects of Mr. signing new authors and producing to attract” new clients, said Mike century publishing house,” said ning streak drove its results, but ob- Dohle’s tenure have mystified insid- best-sellers.The company continues Shatzkin, chief executive of consult- Michael Norris, senior analyst at servers say Mr. Dohle has tuned the ers. A 2008 restructuring marginal- to hire, he noted, and its work space ing firm The Idea Logical Co. Simba Information, which tracks organization to make the most of its ized Doubleday—a respected liter- has been reconfigured “to comple- And Random House has been us- the publishing industry. “They’re success. The key element was the ary publisher that is also home to ment our collaborative culture.” ing its resources to increase its digital rushing full tilt into digital—and November 2009 rehiring of Made- John Grisham and Dan Brown—by Observers say the most impor- clout. “They have more people in cutting costs where they can.” line McIntosh, a longtime Random putting it under Knopf.And squeez- tant aspect of Mr. Dohle’s tenure is their digital group than many pub- The restructurings, in 2008 and House sales executive who had left ing more than 1,000 people onto 13 that he’s made Random House look lishers have, period,” said Jack Perry, 2009,helped reduce worldwide staff the company 18 months earlier for a floors has not helped morale. ahead. The company is particularly a consultant and former Random by about 9%, or 500 jobs. In New top job at Amazon. Random House’s successful first focused on learning to market di- House sales chief. “That’s allowed York, there were enough cuts for As president of sales, operations half also demonstrates the limits on rectly to consumers; publishers have them to be more aggressive.” Ⅲ Random House to move into the and digital,Ms.McIntosh has built a growth for any publisher in a world of traditionally marketed to retailers, bottom 13 floors of its midtown centralized operation suited to pub- shrinking retail outlets for physical which made sense before the growth LISTEN to a discussion at headquarters. The publisher is now lishing’s new realities. “She under- books. Despite a roster of best-sellers in online book buying and e-books. CrainsNewYork.com/podcasts looking to sublet its upper 10 floors and save millions of dollars in rent. High-margin e-book sales, which spiked 200% in the first half to make up more than 20% of company revenue, also contributed to operating profits of $95 million. Profits,up 73% from 2010’s first half, haven’t been that high since 2002. Simon & Schuster was the only other major publisher to report income growth in the first half. Indus- trywide, adult hardcover and paper- back sales plunged more than 20% in the first half,according to the As- Chan’s legacy

Continued from Page 2 nesses. They believed he sometimes did the mayor’s bidding. The partnership’s support for congestion pricing, which most local elected officials opposed, ran- kled even allies like Brooklyn Bor- ough President Marty Markowitz. As a mayoral appointee on the Pan- el for Education Policy, Mr. Chan supported closing schools that Brooklynites were fighting to save. “It was another example of the Bloomberg administration blurring the lines between private industry and government,” said Council- With mobile apps, woman Letitia James. Critics portrayed Mr. Chan’s boarding passes, consolidation of business improve- ﬂ ight-status notiﬁ cations ment districts as a power grab to sustain the partnership’s shrinking and more, AA.com lets budget. His MetroTech BID you manage your travel… takeover came after a yearlong standoff with the BID’s executive while you travel. Learn director that many believe accelerat- ed Mr. Chan’s departure (he joins more at AA.com/mobile. the Empire State Development Corp. Oct. 5). Mr. Chan said he was ready to return to government. Also, while he courted national retail chains, commercial development slipped as the recession took hold. The glittering office towers that a 2004 rezoning envisioned never materialized. Just 29% of the Mobile Apps Flight Status Mobile Boarding Seat Change 4.5 million square feet of expected new office space has been built. But last week, the Metropolitan Transportation Authority agreed to relinquish 370 Jay St., a 400,000- square-foot building sitting virtually empty in the heart of downtown. The Partnership had been working on the deal for the past five years. one one “That was a nice little parting AmericanAirlines and AA.com are marks of American Airlines, Inc. world is a mark of the world Alliance, LLC. © 2011 American Airlines, Inc. All rights reserved. gift for Joe,” said Mr. Fishman. Ⅲ

October 3, 2011 | Crain’s New York Business | 25 20111003-A--0026-NAT-CCI-CN_-- 9/30/2011 7:41 PM Page 1

Twitter and Facebook has drawn attention to progressive causes in a Upstaged, unions join Wall Street protest way the organizations haven’t been able to in years. Continued from Page 1 to extend the state income tax sur- cupy Wall Street to some of the politics, and police brutality, among The protesters have transformed portunity to advance causes like the charge on high earners, among oth- struggles that are real in the city to- other issues. Zuccotti Park into a village of sorts, millionaire’s tax, a labor-friendly er goals.“We’re looking to find com- day,” said Jon Kest, executive direc- “Nobody knew what to expect or complete with a community contract for Verizon workers and mon cause and support the effort. tor of New York Communities for what would happen,” said Robert kitchen, a library,a concert stage, an mortgage modifications for dis- It’s the right fight at the right time, Change, which is helping to organ- Master, legislative and political di- arts and crafts center, and a media tressed homeowners. and we want to be part of it.” ize the march. “They’re speaking rector of the Communications hub. All of that has enabled them Their challenge is to tap into the A loose coalition of labor and about issues we’re trying to speak Workers of America and a co-chair not just to sustain the action but also electricity without taking away from community groups said last week about.” of the Working Families Party. to build momentum, with celebri- the spontaneity and spirit that have that they will march from City Hall Unions and community groups ties Michael Moore, Susan Saran- brought the protest, now in its third to Zuccotti Park on Wednesday, Initial reluctance are now eager to jump on board. don, Russell Simmons and Cornel week, international attention. where they will join a protest that is Yet the city’s established left They are motivated by a sense of sol- West joining the action. The “We’re not trying to grab the threatening to turn their playbook wing did not initially embrace the idarity and a desire not to miss out protest’s growth essentially com- steering wheel or to control it,” said upside down. protest, which began Sept. 17 and on the movement’s growing appeal, pelled the city’s traditional rabble- Michael Kink, executive director of “It’s a responsibility for the pro- has consisted mostly of young peo- but undoubtedly by something else, rousers to follow the crowd. Strong Economy For All, a labor gressive organizations in town to ple angry about income inequality, too: embarrassment that a random “It’s become too big to ignore,” and community coalition fighting show their support and connect Oc- the growing influence of money on assembly of young people using said one political consultant. Some of the biggest players in or- ganized labor are involved in planning for Wednesday’s demonstra- tion, either directly or through coalitions. The United Federation of Teachers, 32BJ SEIU, 1199 SEIU, Workers United, Transport Workers Union Local 100 and the Communications Workers of America are all expected to partici- We’re Ready to Lend. pate.The Working Families Party is helping to organize the march, and MoveOn.org is expected to mobi- lize its extensive online regional net- WHEN YOU’RE READY works to drum up support. “We’re getting involved because the crisis was caused by the excesses of Wall Street, and the conse- TO BORROW. quences have fallen hardest on workers,” a spokesman for TWU Local 100 said. Community groups including Make the Road New York, the Coalition for the Homeless, the Al- liance for Quality Education and Community Voices Heard are also organizing for Wednesday’s action, and the labor and community coalitions United New York and Strong Economy For All are helping to co- Loan Programs to Meet ordinate it. Your Business Needs Businesses targeted The unions’ backing could help Dedicated Small Business the Occupy Wall Street protesters expand their ranks and shed the per- Relationship Manager ception,fair or not,that they lack focus and a message. And unions could garner support for their own Longer Hours that Work campaigns. Already, Occupy Wall with Your Schedule Street protesters have joined with Teamsters at actions against Sothe- by’s, which has locked out art han- Convenient Online Access dlers for two months, and Verizon, with TD Bank BusinessDirect which is in tense negotiations for a contract covering 45,000 workers. “What’s so great about it is they’ve managed to capture a feeling PUT THE POWER OF TD BANK that’s out there that decisions are be- TO WORK FOR YOU. ing made that aren’t helping 99% of society,” said Jason Ide, president of To speak with a Small Business Teamsters Local 814. “We are all being left out. It’s something labor Relationship Manager, should have been saying for a long call 1-888-751-9000 or visit time.” www.tdbank.com/smallbusiness Even with the city’s new-wave activists and old-school leftists joining forces, it remains to be seen whether the protests will have a last- ing impact. “The challenge is, how do you transfer protest into power?” the CWA’s Mr. Master said.“At the end of the day, you have to figure out a way to take this energy and turn it into legislation that really changes people’s lives.” Ⅲ TD Bank, N.A. | Some fees and restrictions may apply. Loans subject to credit approval. | Equal Housing Lender | TD Bank Group is a trade name for The Toronto-Dominion Bank. Used with permission. For detailed credit ratings for The Toronto-Dominion Bank and TD Bank, N.A. visit https://www.td.com/investor/credit.jsp. Credit Ratings are not recommendations to purchase, sell, or hold a ﬁ nancial obligation inasmuch as they do not comment on market price or suitability for a particular LISTEN to a discussion at investor. Ratings are subject to revision or withdrawal at any time by the rating organization. CrainsNewYork.com/podcasts

26 | Crain’s New York Business | October 3, 2011 20111003-A--0027-NAT-CCI-CN_-- 9/30/2011 12:36 PM Page 1

$1,200 Super Bowl XLV top ticket price, expected to be surpassed at MetLife Stadium’s SB XLVIII BUSINESS LIVES Source: NY/NJ Host Committee

HOT JOBS EXECUTIVE INBOX Anne Fisher GENERAL MANAGER AGENCY New York City Housing Authority An auction site JOB DESCRIPTION Direct the agency’s day-to-day operations that makes MOST IMPORTANT TASK Execute crime pay all approved policies, orders and regulations IN THE LATE 1990S, when eBay was in its infancy, Tom Lane CREDENTIALS NEEDED M.B.A. decided he’d like to start an preferred; minimum 10 years’ online auction company, too. experience directing a large “One of the main challenges organization was finding a big, steady source SALARY $175,000-$200,000 of inventory,” he recalled recently. “What occurred to me was, what RECRUITER Internal about the stuff that’s sitting DOWNSIDE Being on call 24/7 around property rooms at police UPSIDE Getting the opportunity stations all over the country?” to improve the lives of low-income Mr. Lane, a Manhattan native New Yorkers who graduated from the Queens campus of St. John’s University, Managing NYCHA—which has a served as a police officer in Long combined budget of more than Beach, L.I., for several years. $3.2 billion, a staff of more That’s where he learned that “by than 11,600 and an aging law, stolen, seized and forfeited housing stock—is one of the most property must be auctioned off,” challenging jobs in public he said. “Putting that process housing. online seemed like a natural.” —SUZANNE PANARA The New York Police AIMING FOR A Department agreed, becoming KNOCKOUT: The the first of more than 2,600 Manhattan Snoring police departments nationwide to EXECUTIVE MOVES and Sleep Center, contract with PropertyRoom.com. where Tamasine The firm, which now has about Skanska USA: Oram is technical Rich 100 employees at 10 locations Aquino, 56, joined as director, treats some vice president of 90 patients a month. across the U.S., picks up items— business development from jewelry to electronics—from for the construction buck ennis police property rooms. Before company’s civil group. offering the goods for auction, He was previously GOTHAM GIGS PropertyRoom checks their vice president and authenticity. The firm once had a general manager at URS Corp. MSCI Inc.: Gary Retelny, 52, was 2.75-carat diamond certified by appointed president of Institutional the Gemological Institute of Shareholder Services Inc. He was America. It sold for $22,000. previously global head of human This Job’s a Snooze On top of saving police resources. departments the expense of Everyday Health Inc.: Paul Slavin, 54, storing goods and holding in- joined the online health information The walls will occasionally rattle when Tamasine Oram is at work.The provider as senior vice president and ‘There are person auctions, PropertyRoom general manager, global news and cause: extreme snoring, says the 45-year-old technical director of the uses a sliding scale to determine Everyday Health Studios. He was lots of awe- Manhattan Snoring and Sleep Center. ¶ About 90 patients a month how much of the proceeds from previously senior vice president, new now visit the Central Park West center, which opened in 2008. A lot each sale goes back to the media, at ABC News. inspiring community: The higher the Doremus: Matt Broom, of them don’t saw logs. ¶ “There’s all kinds of awe-inspiring sleep winning bid, the bigger the 37, was promoted to sleep disorders,” Ms. Oram said. ¶ Narcolepsy. Insomnia. Sleepwalking. percentage PropertyRoom pays president, international, of the (One person became a patient after waking up in his child’s crib). But to municipalities. business disorders,’ the most common disorder the center treats is sleep apnea, which can “The money goes into cities’ communications lead to snoring and can cause a person to repeatedly stop breathing. ¶ general funds, which the cities company. He was from then spend however they like—to previously director, Ms. Oram, a former long-term care nurse and self-described biology fix potholes or install streetlights worldwide strategic partnerships. narcolepsy freak, is herself a sound sleeper. She does snore “a little” when she’s or whatever,” Mr. Lane said. Nixon Peabody: , 56, joined Alan Cohen So far, the firm has paid out the law firm as a partner. He was to insomnia very tired, her husband says. ¶ Other couples are less fortunate. Studies previously a partner at Paul Hastings. show that snoring is one of the leading causes of divorce in the U.S. $36 million; about $10 million Mark Kreitman, 52, joined as a partner. has come back to New York City. He was previously a partner at Paul And sleep disorders leave countless people irritable, emotionally Who says crime doesn’t pay? Hastings. erratic and sometimes depressed. Helping them get a good night’s Amy Curry, 29, joined as an associate. rest can make all the difference, said Ms. Oram. ¶ “They come in WOULD YOU FEEL COMFORTABLE sell- She was previously an associate at Paul ing stolen merchandise in situations Hastings. miserable. But when you wake them up in the morning, they’re the where it’s legal to do so? Tell us at See EXECUTIVE MOVES on Page 29 most pleasant people in the world.” —shane dixon kavanaugh www.crainsnewyork.com/execinbox.

October 3, 2011 | Crain’s New York Business | 27 20111003-A--0028-NAT-CCI-CN_-- 9/30/2011 12:36 PM Page 1

RÉSUMÉ REVIEW Is your job search all it could be? City’s librarian-in-chief We ask the experts. Seeks private, public to make sure that trend continues, by How did traveling to South Africa in your NAME EDWARD SENA continuing to provide a place that 20s change your life? SUMMARY help for NYPL, facing builds a robust society and economy. I was asked to help create a school We’ll look for public and private for black South Africans who had Experienced CPA with senior leadership small budgets, big need support. I’m confident we’ll find it. been purposefully denied a quality expertise education. Between 1985 and 1993, PROFESSIONAL EXPERIENCE At Amherst, you developed a reputation more than 1,000 students went on l BY DANIEL MASSEY Kreab Gavin Anderson as an expert fundraiser. What makes from that school to university. Finance director, 1999-present someone good at asking for money? Nothing could have been a more Responsible for day-to-day financial oversight of U.S. operations in nthony Marx is a native I don’t think of myself as a fund- powerful lesson as to the regenera- global PR firm; oversee client accounting; assist global CFO New Yorker who grew up raiser, but as someone who has tive power of education. l Shandwick USA Inc. using the Inwood branch strong views that others share Assistant controller, 1998-1999 What role can the library play in of the New York Public and want to see become reality. Oversaw accounts payable, accounts receivable and billing for global ALibrary. In July, the distinguished closing the city’s equality gap? network’s largest office and four other U.S. offices political scientist became president What challenges come with new The library is the place where all of the entire technologies? people can come to think, EDUCATION system.He re- Increasingly, people come to whether they are stu- l St. John’s University, B.S., accounting, 1990 turns here af- the library to use our or dents who need a place Résumé appears in condensed form. MOVERS & ter eight years their own computers and to do homework,peo- EXPERT ADVICE SHAKERS as president of to be in a space where oth- ple with no computers Amherst Col- ers are doing work of the or books,or business- Edward’s résumé reads more like a rote job description, not a marketing lege, where he mind. Our challenge … people seeking ad- document promoting his candidacy. He must sell his skills and Anthony won acclaim is to ensure that that con- vice.We must main- achievements because he is the commodity. Critical information has been for an initia- tinues.What kind of city tain that tradition; omitted that would immediately make him a more competitive and Marx tive to make and world would we live otherwise, the di- enticing candidate, such as corporate revenues, number of direct reports, higher educa- in if only those who vide will swallow us. major projects he supervised, and size of his budget. Edward should utilize tion more ac- could afford fancy de- LinkedIn.com to review profiles of other people who hold his job title. Don’t cessible to low-income students. vices and subscriptions Word has it you’re a big be a generic candidate. Just like in any good campaign, sell the sizzle! had access to ideas and Mets fan. How would you —nancy schuman, vice president, LLoyd Staffing The library’s budget is shrinking, despite books,which will increas- fix the team? higher attendance. How will you cope? ingly be read online? Not a I know the limits of my To contact this candidate or to be featured in “Résumé Review,” email us We are fortunate that libraries have world I want my kids to expertise. Nice try, at [email protected]. not been cut more. We’ll work hard grow up in. though. n

ON THE MARKET

FOR SALE 64th btwn 2nd & 3rd • 851 – 16,746 SF Park & 63rd • 875 SF 66th btwn Park & Lex • 1,100 SF Park & 63rd • 1,700 SF 72nd btwn York & East River • 1,200 SF Park & 66th • 1,900 SF !"# !"#$#$%"&'%()*(+,# 74th btwn Park & Lex • 975 SF Park btwn 81st & 82nd • 1,324 SF 77th btwn Lex & 3rd • 462 – 5,011 SF Park btwn 81st & 82nd • 1,000 SF -+%#.//#01#2+3%#4"5/*!'5%"# Gramercy Park N • 1,800 SF Fifth btwn 89th & 90th • 1,100 SF 6"5/#7&*5*"#8""9&: Sutton Place S • 700 SF Fifth & 92nd • 2,200 SF FOR LEASE

15th btwn 7th & 8th • 9,150 SF 80th btwn 5th & Madison • 2,000 SF 24th btwn 6th & 7th • 2,500 – 10,191 SF 94th btwn 2nd & 3rd • 13,000 SF Corcoran Wexler Healthcare Properties 37th btwn 1st & 2nd • 1,316 – 14,584 SF Broadway & 70th • 1,200 – 3,200 SF 660 Madison Avenue, New York, NY 10065 46th btwn 5th & Madison • Various units Fifth & 61st • 1,296 SF 61st btwn Park & Lex • 1,800 SF Fifth & 61st • 1,800 SF ofﬁce: 212.836.1075 I fax: 212.418.4344 63rd btwn 2nd & 3rd • 1,600 SF Fifth & 61st • 3,630 SF [email protected] 64th btwn 1st & 2nd • 53,826 SF CPW & 62nd • 5,000 SF 67th btwn 3rd & 2nd • 745 SF EEA btwn 82nd & 83rd • 2,400 SF www.healthcare-properties.com 72nd btwn Madison & Park • 1,000 SF WEA btwn 70th & 71st • 2,000 SF

76th btwn 1st & 2nd • 42,608 SF Offering by prospectus only

The Corcoran Group is a licensed real estate broker. Owned and operated by NRT LLC.

28 | Crain’s New York Business | October 3, 2011 20111003-A--0029-NAT-CCI-CN_-- 9/30/2011 12:35 PM Page 1

EXECUTIVE MOVES promoted to chief operating officer of Savanna: Todd E. Korren, 46, joined the the marketing agency. He was previously real estate, private equity and asset CORPORATE LADDER head of production. management firm as principal, director Continued from Page 27 Hunton & Williams: Fradyn Suárez, 34, of leasing. He was previously executive LAYING DOWN THE LAW AT BMI joined the law firm as a partner. She was vice president and director of 33Across: Matt Arkin, 43, joined the STUART ROSEN, 52, was promoted to senior vice presi- social targeting company as president. previously a partner at Mayer Brown. commercial leasing and operations at WXY Architecture + Urban Design: He was previously chief revenue officer Adam Swig Equities. dent and general counsel at BMI, a performing rights HNTB Corp.: at Sojern. Lubinsky, 40, joined the architecture and Michael Fleischer, 44, joined organization. Mr. Rosen will oversee the global Allie Savarino Kline, 40, joined as vice urban planning firm as principal. He the management and consulting firm as operations of the legal department and its president of marketing. She was was previously U.K. deputy head of metro New York campaign leader. He attorneys and direct the organization’s legal affairs previously vice president of marketing at economics and planning at URS Corp. was previously executive director of the Studley: William Silverman, 32, was New York State Thruway Authority. and positions. Mr. Rosen began his career at BMI Brand Affinity Technologies. in 1996 as an associate attorney and held The Institute for Private Investors: promoted to senior managing director of JAMS: Shelley Rossoff Olsen, 56, joined Vijay successive posts in legal affairs, as well as serving Kumar, 44, joined as director of the commercial real estate services firm’s the mediation and arbitration services membership for the educational and capital transactions group. He had been provider as a mediator and arbitrator. as corporate secretary. He was most recently vice networking resources provider. She was corporate managing director of the group. She was previously senior court president, legal. The Brooklyn College graduate also named commercial director, North Nicholas B. Farmakis, 33, was promoted mediator and summary jury trial judge received his law degree from the University of to corporate managing director of the for the Supreme Court, New York America, for IPI’s parent company Pennsylvania Law School. —CALLIE EIDLER Campden Media. She was previously New York office. He was previously a County Civil Division. —callie eidler chief executive of VRK Consulting Inc. managing director. Windels Marx Lane & Mittendorf: Matthew Daus, 43, was promoted to partner at the law firm; he was previously counsel. He was also re- elected president of the International Association of Transportation Regulators. MKTG INC: Paul Trager, 51, was promoted to chief operating officer. He was previously senior vice president of financial planning. J.H. Cohn: Jacob Weichholz, 60, joined the accounting and consulting firm as a director. He was previously a partner at Ernst & Young. Nonprofit Finance Fund: Antony Bugg- Levine, 37, joined the nonprofit, philanthropic and social enterprise finance company as chief executive. He was previously managing director at the Rockefeller Foundation. Big Spaceship: Dan Mall, 27, was promoted to art director at the Brooklyn-based creative agency. He was previously a senior designer. Stacey Mulchay, 35, joined as a senior developer. She was previously a technical architect at Teknison. Valerie Gnaedig, 27, joined as senior designer. She was previously an art director and visual designer at MRM Worldwide. Able Parris, 32, joined as senior designer. He was previously a designer at McKinney. HBR Consulting: Mark Denner, 41, joined the firm as a senior director in the information life cycle management practice. He was previously a director at Huron Legal. Spike TV: Diana Marseille, 32, was promoted to vice president, media planning. She previously served as senior director of media planning. Rose Associates Inc.: Lisa Bulloch-Jones, 37, joined the real estate firm as director of corporate marketing. She was previously director of marketing at Jones Lang LaSalle. L&L Holding Co.: Yong Cho, 38, was appointed senior managing director at the commercial real estate company. He was managing director. Chadbourne & Parke: Benjamin Koenigsberg, 36, was promoted to partner at the law firm. He was previously counsel. Erez Tucner, 36, was promoted to partner. He was previously an associate. Brian R. Pollack, 39, joined as counsel. He was previously counsel at Edwards Angell Palmer & Dodge. Campfire: Jason Sutterfield, 32, was

EXECUTIVE PROMOTIONS

The fastest way to get an announcement into Crain’s is to submit online. Fill out the form at www.crainsnewyork.com/section/ executive_moves. The Executive Moves column is also available online.

October 3, 2011 | Crain’s New York Business | 29 20111003-A--0030-NAT-CCI-CN_-- 9/30/2011 6:41 PM Page 1

THE OWNERS OF THE METS PROBABLY BREATHED A SIGH OF RELIEF after U.S. THE District Judge Jed Rakoff decreased the amount they’d have to pay in a Madoff lawsuit to $386 million from $1 billion.The judge said that Irving Picard, the court-appointed trustee in charge of liquidating Bernard L. WEEK Madoff Investment Securities, would have to prove that the Mets owners knew that fraud was afoot to recover $300 million in principal that they received in the final years of the Ponzi scheme. … MARTHA STEWART HEADS ON THE BACK TO THE CORPORATE KITCHEN. The Queen of DIY rejoined the board of directors of her company, Martha Stewart Living Omnimedia, after a five-year ban preventing her from serving on the board of a publicly traded WEB company was lifted. Her company still faces financial difficulties, though, and is considered to be up for sale. ... ARE YOU READY SEPT. 26-30 FOR SOME SNOWY, PRICEY FOOTBALL? New York and New Jersey, co-hosts of the 2014 Super Bowl, unveiled the Super CRAINSNEWYORK.COM Bowl XLVIII logo, which features a snowflake and the George Washington Bridge. Already, officials are expecting the cold- climate, outdoor game to sell the most expensive tickets in NFL history. Tavern on … GOV. ANDREW CUOMO GOT MAJOR PUSH BACK from the Public Employees Federation, New York’s second-largest government workers’ the Vegas Strip, union, when its members voted 54% to 46% to reject a contract agreement with the state.The deal proposed a three-year pay freeze and an increase in anyone? health insurance premiums in exchange for saving 3,500 public employee jobs. Mr. Cuomo said he plans to follow through with the layoffs if an avern on the Green won’t be a loner for much longer. A new company called Tavern agreement is not reached. —rebecca olles TInternational won permission from a federal bankruptcy court to use the famed Tavern on the Green name for restaurants outside the New York region. HOORAY! OY VEY! The company paid $1.3 million for the licensing rights, and owner Lou Bivona plans to open Tavern on the Green eateries in other cities. Indeed, Mr. Bivona and former Tavern has its own pro The DMV will no sports team again, 54 years longer test the Chief Operating Officer Michael Desiderio say they are already looking at London, Asia, after losing baseball’s vision of drivers California and Las Vegas as possible locations. Dodgers to L.A. Rapper Jay- who are renewing Z announced their licenses. A New York City, which retains the trademark’s ownership, limited where the name could be the New Jersey simple promise Nets basketball that one can see used. No Taverns on the Green can be opened in New York, New Jersey, Connecticut and team would well enough to, parts of Pennsylvania, and any new Taverns must include the location in the name. Before become the say, dodge pedestrians in the crosswalk Brooklyn Nets. will now suffice. long, Brits may be dining at Tavern on the Green Wimbledon while the New York original

sits vacant on the green, its future still undecided. photos: buck ennis, bloomberg news, istock

The Most Prestigious Professional Address in New York City 800 FIFTH AVENUE

800A Fifth Avenue at 61st Street Overlooking Central Park 1,000 to over 5,000 Square Foot Professional Suites Available for Lease

30 | Crain’s New York Business | October 3, 2011 20111003-A--0031-NAT-CCI-CN_-- 9/30/2011 12:35 PM Page 1 chemex / INSATIABLE CRITIC Gael Greene manhattan-inventors/events/25369961 or flickr.com THE email [email protected]. WEDNESDAY, OCTOBER 12 NEW YORK PUBLIC LIBRARY invites you to WEEK “Networking Skills for Professionals.” Lincoln arias: Attendees will learn how to enhance their communication skills and boost AHEAD their persuasive power during networking and other professional events. The free lecture will take place at the second act OCT. 10-16 the Science, Industry and Business Library, 188 Madison Ave., from 6 p.m. to 7 p.m. For more information, call CONFERENCES (917) 275-6975 or visit www.nypl.org. Ballyhooed spot AND SEMINARS WHAT HE’S MONDAY, OCTOBER 10 CULTURAL EVENTS breaks through with Sharp UpSwing presents WOMEN IN THE FRIDAY, OCTOBER 14, TO Pick READING BOARDROOM 2011. This executive SUNDAY, OCTOBER 16 of the dishes to swoon for leadership panel discussion is designed Join fellow chocolate lovers week STANFORD PRESIDENT John to help attendees prepare for board for the inaugural Hennessy has been busy of late CHOCOLATE WEEKEND NYC t is thrilling to watch a shy,in- service and connect them with the right . preparing his school’s bid to secure adolescent grow into a resources. The discussion will take place Various chocolatiers, including build an applied sciences magnetic, irresistible beauty. at The Roosevelt Hotel, 45 E. 45th St., Vosges Haut-Chocolat and Fine & Raw, from 3 p.m. to 6 p.m. The cost to attend will hold free tours, tastings, campus in the city. But he’s That’s what’s happened at I is $150 for individual tickets or $1,500 demonstrations and activities for all also found time in his schedule Lincoln Ristorante. for a table of 10. For more information, ages. For more information and a list of for books. The Long Island native I sensed a breakthrough at a May call (952) 400-0198 or visit participating chocolatiers, visit buck ennis listens to novels from the lunch I’d resisted—Lincoln was ex- A WORK OF ART: Squid ink strozzapreti www.womenintheboardroom.com. www.chocolateweekendnyc.com. Victorian era on tape, “ones that I pensive for me, overfussy. I was the MONDAY, OCTOBER 10 SUNDAY, OCTOBER 16 don’t have time to read.” first critic but not the last to be dis- He also reads lots of appointed by its ballyhooed launch. LINCOLN RISTORANTE Inventors Association of Manhattan As part of NATIONAL BREAST CANCER INVENTION LICENSING AND AWARENESS MONTH biographies; he spent the But that afternoon I basked in the 142 W. 65th St. invites you to , World Yacht will GETTING ON DRTV summer with several about Ben daylight shimmer, marveled at my (212) 359-6500 . The seminar will hold its annual “Beauty Brunch for the www.lincolnristorante.com provide an overview of patent and Cure.” Guests will sip pink champagne Franklin. And he’s currently soft-shell crab in its beer-batter technology licensing, including and enjoy a buffet brunch and spa working his way through crunch, and admired a garden of considerations that every inventor treatments. All services and treatments pickled onions, radish and celery. Mohandas Gandhi’s An should be aware of, such as basic patent are free; donations are encouraged. The Autobiography: The Story of My Once-stingy portions came piled CUISINE Italian law, key license provisions, royalties and brunch will take place at World Yacht, high—the grilled chicken salad potential pitfalls. It will take place at the Pier 81, West 41st Street on the Hudson Experiments with Truth. “I find it with orange, red onion, and parme- PRICE RANGE $21 to $45 Midtown Executive Club, Priestly River, from 11:30 a.m. to 2 p.m., rain or inspirational,” he said. Room, 40 W. 45th St., from 6:30 p.m. to shine. Tickets to the brunch are $59. All “He made a lot of mistakes, san shards could feed a quartet. In- SERVING Lunch Wed.-Sun., 9 p.m. The cost to attend is $20 online proceeds benefit Susan G. Komen for but still ended up incredibly stead of four poky pasta blimplets, dinner seven days there were seven luscious and plump in advance or $30 at the door (cash the Cure. For more information, visit successful. There’s something to RESERVATIONS Recommended only). To get more information and to www.worldyacht.com. be said about what you can learn agnolotti, prettier than a vintage register, visit www.meetup.com/ —suzanne panara Chanel pocketbook and stuffed NOISE LEVEL Civilized from mistakes along the way.” with spring lamb in a perfect sauce. To view Crain’s classified events listings, go to —DANIEL MASSEY In a pretheater dinner some I can’t wait to return. months later, everything about the I will definitely go back. house seems smooth. The servers I’ll let them simmer awhile. have professional starch and the NO HATS Never again. women tending bar remember that my guy drinks Kaliber and that I can’t eat grapefruit. Very four-star. A great restaurant will have great years championed Citymeals-on- bread even if it’s dangerous for those Wheels, which I co-founded. of us with the self-control of a gnat. Still, was it really as good as I’d Crisps that had exhausted my pa- found it? In my instinctive pinch- tience are gone,replaced by a scrump- penny cloud, I’d avoided $30 to $40 tious selection in a big wooden bowl: entrées. So we return with a fussy rustic Italian integrale, focaccia, and friend.The 150 seats are mostly full, assertive grissini with pepperoncini. but the chef, visible behind glass in The chef plays a fine hand of cros- his kitchen, seems to focus on us. tini. Something as familiar as moz- Mascarpone enriches chicken liver zarella on an heirloom tomato invokes mousse on melba toast. It’s a gift. the first “Oh my God” swoon. My friend begins to realize Lin- A satin swell of swordfish belly coln’s amazing metamorphosis as we also prompts a gasp,and I am aston- share escarole in a Caesar dressing ished that the mix of watermelon and and a mini-amuse of big-eye tuna radicchio gets my approval.A side of with lightly pickled vegetables and an gnocchi floating in butter, is hard to anchovy on top.Gnudi with summer resist.The linguine alle vongole has vegetables poached in butter are un- too much oil, but the pasta is proper- like any I’ve tasted—ricotta explod- ly firm and littleneck and razor clams ing in your mouth.Two daringly rare are delicious,punctuated with shishi- scallops are lightly caramelized next to peppers and pancetta. My squid to a disc of homemade blood sausage ink black strozzapreti in a toss of im- tasting of apple-pie spices in a rubble peccably cooked sea critters salted of almost meaty lentils.Lightly pick- with capers and olive is a work of art. led Swiss chard attempts to dilute the I would be equally happy wearing it. richness, as if a shirt with a patch Chef Jonathan Benno, so strait- would make Bill Gates a regular guy. jacketed in the spotlight of Lincoln’s No one wants dessert, but I can’t $20 million opening,is clearly wear- bypass apricots,their flavor magnified ing Superchef duds now. If I weren’t over sorbet,layered with juniper berry already hooked, the polenta freschi semifreddo on pistachio génoise. he sends out would seal the verdict. My fussy friend is crying, “Mar- To confess:I wanted Lincoln to be velous,delish.”And I’m asking myself a masterpiece. Patina Group leader if this is the best ristorante in town. Nick Valenti,a Calabrian-born inno- cent of 20 when he began his ascent Copyright © 2011 by Gael Greene. at Restaurant Associates, has for 26 Syndicated by www.insatiable-critic.com.

October 3, 2011 | Crain’s New York Business | 31 CN014679 9/28/11 4:36 PM Page 1

Commercial Banking Group

INDUSTRIAL STRENGTH EXPERTISE

Commercial banking is no place for novices. You need a team with the experience and commitment that matches yours to guide your business to its goals. As entrepreneurial-minded commercial bankers, backed by the strength of a top 10 bank, our clients trust us to bring the insights and innovative solutions to get the job done.

Ellen Marshall, Commercial Banking Executive [email protected] 212-764-8315