Crain's New York Business

20150309-NEWS--0001-NAT-CCI-CN_-- 3/6/2015 7:31 PM Page 1

HOTEL PLANNED for Brooklyn’s hipster- industrial complex CRAIN’S® NEW YORK BUSINESS PAGE 23

VOL. XXXI, NO. 10 WWW.CRAINSNEWYORK.COM MARCH 9-15, 2015 PRICE: $3.00 Seniors’ moment The next generation of upstart entrepreneurs is grayer than you think. Here are 13 with

lessons for everyone SOX APPEAL: Rag- trade refugee Michael Isaacman, 52, and BY JUDITH MESSINA his business partner started their own Marty Gindi found the job market unwelcoming to a online collection of socks, T-shirts and man his age. David Klein was looking for a little career underwear. reinvention. Michael Isaacman was fed up with an industry obsessed by “how cheap you can make it.” These are just three of the many who have taken what may seem like an especially treacherous leap—starting a business after turning 50. They, and others like them, are defying accepted wisdom that founders, especially those in tech, need to be barely old enough to drink. Or that, as the See SENIORS on Page 10

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EXECUTIVE EDITOR’S NOTE

Uber grows up FYICRAINSNEWYORK.COM

The team leading Uber’s wild expansion in New York Ubered to our newsroom last week. As you Jobs, jobs, more jobs: might imagine, they came with a 2014 smashed record Macbook and 30-something ambition. But, in a sign the ride- ast year was a good one for hail company is growing up, they employment. A really, really good wore suits and ties, and told us that year. Maybe the best. ¶ New York Jeremy Smerd L God View is gone. God View, to City added 105,100 jobs in 2014, the uninitiated, was the feature that according to the U.S. Department of allowed Uber execs to track passengers in real time. Labor. Averaging the monthly data It’s what landed Uber’s New York general manager, reveals an even higher figure: 120,800. istockphoto Josh Mohrer, in trouble when he told a reporter that By either measure, it was the most jobs the city ever added in one year.The previous record was he had been monitoring her movements without her 102,500, in 2000. ¶ The usual suspects led the way. Industries that saw the most growth permission.“There’s no God View anymore. It’s an included health care (21,700 jobs added), restaurants and bars (10,500), retail (8,500) and old tool,” he told us.“It doesn’t exist anymore.” It’s not employment services (8,000). Missing from this list? The city’s booming technology sector. that Uber employees can’t see where you’re traveling. Crain’s columnist Greg David theorizes it’s because economists and statisticians are still unclear It’s just that they can access the info only for how to count techies who work in nontech industries such as retail and advertising, or who are “legitimate business purposes,” as they did last week self-employed. “It’s an issue deserving more attention,” he wrote on his blog. ¶ Local when they helped police track down a gunman who government added 2,800 jobs, though not because of Mayor Bill de Blasio’s prekindergarten fired shots from an Uber car. Uber has been under expansion.That initiative seems to be reflected in the addition of 6,800 social-service jobs. pressure to grow up, but the company is just on the Meanwhile, state government eliminated 700 positions.¶ Of the handful of industries that are leading edge of where New York is already heading. shrinking—clothing production and other manufacturing—one stood out: the city’s celebrated The fastest way to grow revenue here, where labor and film and television production, which shed 4,400 jobs last year. Economist Barbara Denham real estate costs are highest, is to do away with full- described it as a historically “volatile industry.” —andrew j. hawkins time employees and shrink your footprint.The ranks of New York’s self-employed grew 31% between 2000 $100M NAMING RIGHTS. David Gef- PAPER. Billionaire John Catsimatidis, fen, co-founder of DreamWorks An- the owner of Gristedes,reportedly ap- HOORAY! and 2012, to 247,025, or about the population of imation,donated $100 million to Lin- proached Mort Zuckerman with NEW YORK CITY is home to 78 Madison, Wis.Tech firms like Uber are taking this coln Center to help fund the $500 hopes of purchasing the Daily News, billionaires, the most in the world, logic to new levels.Though it is valued at $41 billion, million renovation of Avery Fisher prompting Mr. Zuckerman to retain according to Forbes. Hall.In exchange,he will get his name advisers to explore the paper’s sale. … it has only 80 employees in New York, its largest on the building in time for the New WI-FI UP FOR GRABS. The city is look- market. Its fleet of drivers, which it hopes to grow by York Philharmonic’s 2015-16 season. ing to sell its $500 million public- 87%, to 23,000, are all contractors. As an Uber … CRASH LANDING. A Delta plane safety wireless network. Bidders may customer, I was surprised when Mr. Mohrer said: skidded off the runway while landing be asked to redesign it for low-cost “Our main customer, really, is the driver.” But I get it. at LaGuardia Airport Thursday dur- public Wi-Fi. The current contract ing a snowstorm. None of its 127 pas- will expire in 2016.The 400-cell-tow- istockphoto Uber wants to mint drivers and give them what they sengers or five crew members was se- er system costs $42 million a year to need to make money, assuming that a happy driver is riously injured. The plane stopped maintain and operates at up to 25% ca- OY VEY! short of plunging into Flushing Bay. pacity.… BRIBERY SENTENCE. Former good for the customer.That’s the new economy. I just A SNOWSTORM delayed every subway … EMAIL-GHAZI. A Queens Councilman line except the G and L during Thursday’s don’t think those of us in the world of full-time probe into Hillary Daniel Halloran was rush hour. employment and health benefits have realized it yet. Clinton’s use of per- ‘My dream is sentenced to 10 years sonal email during her to not call in prison for his role in tenure as secretary of corruption schemes in state could last Queens an attempt to get THIS WEEK IN CRAIN’S months, and might then-state Sen. Mal- threaten the launch of Boulevard the colm Smith on the IN THE MARKETS------4 her presidential cam- Republican mayoral ap images “Boulevard of IN THE INSIDER ------5 paign. Ms. Clinton, ballot in 2013. … who has turned over Death” ’ MEMORIAM. Cardinal Muslim holy days,Eid al-Fitr and Eid REAL ESTATE ------6 55,000 pages of mes- —Councilwoman Karen Edward Egan, the al-Adha. … EX-HEALTH CZAR’S NEW OPINION------8 sages, says she wants Koslowitz, on the city’s former archbishop of GIG. Tom Farley, city health commis- the State Department plan to spend $100M to New York,died of car- sioner under former Mayor Michael STEVE HINDY------9 to publicly release her make the boulevard safer diac arrest at NYU Bloomberg, became the CEO of GREG DAVID ------9 emails. … $1B IN as part of a citywide Langone Medical health care nonprofit Public Good PLAIN SIGHT. Warby $250M street-fixing plan Center. He was 82. … Projects. … RETIRING ELEPHANTS. REPORT------14 Parker,the trendy eye- SCHOOL HOLIDAYS. Ringling Bros. and Barnum & Bailey STARTUP GUIDE------16 glass purveyor, has been approached Starting next academic year, New Circus will phase out its elephant acts by investors looking to buy a stake that York City will become the nation’s first by 2018,following decades of pressure GOTHAM GIGS CLASSIFIEDS ------20 Claire Kinder Barrett is would value the company at $1 billion, major city to close public schools in from activists claiming animal cruelty. SOURCE LUNCH------GROCER DIGS crafting a jewelry-making 25 double its 2013 level.… observance of the two most sacred —emily laermer career in Brooklyn. P. 24 SNAPS------26 CORRECTIONS (SEE PAGE 23) STORIES TO WATCH THIS WEEK vol. xxxi, no. 10, march 9, 2015—Crain’s New York Business (issn 8756-789x) is published weekly, except for double issues the weeks of June 29, July 13, July 27, Aug. 10, Aug. 24 and Dec. 21, by Crain Communications Inc., 685 Third Ave., New York, NY March 10: Sale March 11: Shake March 11: March 15: New 10017. Periodicals postage paid at New York, N.Y., and additional mailing offices. Post- master: Send address changes to: Crain’s New York Business, Circulation Department, 1155 scheduled for Shack to report FY Citigroup finds out York City FC’s first Gratiot Avenue, Detroit, MI 48207-2912. for subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 $145M in general- 2014 earnings if it has passed its home game, at one year, $179.95 two years. (GST No. 13676-0444-RT) obligation bonds stress test. Yankee Stadium ©Entire contents copyright 2015 by Crain Communications Inc. All rights reserved. for NY state

2 | Crain’s New York Business | March 9, 2015 20150309-NEWS--0003-NAT-CCI-CN_-- 3/6/2015 7:32 PM Page 1

STATS AND THE CITY

by Nicholas Wells STOCKING UP: The Nasdaq reached 4927 last week, a stone’s throw from its 5049 record, set during the dot-com boom in 2000. The index surged more than 109% the year before its peak, but has grown a modest (by comparison) 15% in the past 12 months. ap images

PORTION of the Nasdaq that is made HANGING ON: 43%up of tech stocks, down from 65% York Scaffold’s in 2000 Buettner hopes he can last in Long MARKET VALUE Island City. of Apple, the biggest$750B company listed, making up about 10% of Nasdaq’s value MARKET CAP of 21st Century Fox Inc.,$72.8B No. 16 on the Nasdaq, the highest-ranked New York-based company on the index

LARGEST one-day drop in the history of-147.5 Nasdaq. The index fell 9%, to Hemmed in by hotels 1499, on Aug. 31, 1998

PORTION of all

buck ennis NYC-based IPOs 60.2%during the dot-com boom that listed had so many places to hang their hats. cheaply by comparison, but I’ll have trucks on on Nasdaq; since 2010, that figure Manufacturing firms As hotels gravitate to über-trendy areas like the road clogging the expressway to do those jobs has dropped to 40% in now-trendy areas are Williamsburg, Greenpoint and Long Island we service now from right across the river,” said INCREASE in City, they’re pushing out small businesses that Kenneth Buettner of York Scaffold Equipment annual left with no place to stay have made those industrial neighborhoods their Corp., an 87-year-old, third-generation family +56.4%revenue for Brooklyn-based Etsy, to home for decades. Companies are facing out- business. York Scaffold is currently based in the $196M in 2014, which filed plans right displacement or tripled real estate prices, industrial Ravenswood section of northern for an IPO last week BY ADRIANNE PASQUARELLI the unwelcome consequences of the ongoing ho- Long Island City.“I’m not averse to change, but tel boom. Those businesses that have not been the problem is you need space for everything.” HEALTHY TECH: The 56.4 million visitors to New York City last forced out yet fear a move to Long Island or New For hotels, there’s space aplenty in industrial The Nasdaq index is year had their choice of hotel rooms—102,000, Jersey is inevitable. zones.Real estate prices are cheaper than in cen- still dominated by tech stocks, but in fact, with thousands more on the way. The “If you pick me up and move me out to tral neighborhoods such as Times Square and fast-growing industries like health care city’s manufacturing businesses only wish they Ronkonkoma, I could get a couple of acres very See HEMMED on Page 23 and finance have gained their share. Market cap (in billions)

$210 Capital $205 $483 goods Utilities and Get ready for the first billion-dollar CEO Finance transportation $517 Blackstone’s Stephen Schwarzman on way 80 companies in its private-equity Schwarzman’s annual haul appears Other portfolio to shop around. Assum- to be Steve Jobs, who upon rejoin- to 10-figure annual payouts. Here’s why ing the U.S. stock market remains ing Apple in 2000 was handed $578 strong,Blackstone figures to sell yet million worth of stock options, ac- $1,250 $3,890 And times are best of all at more private and public holdings in cording to compensation research Health care Technology BY AARON ELSTEIN Blackstone Group, which reaped a the next few years—making Mr. firm Equilar. Mr. Schwarzman, fortune last year from selling off in- Schwarzman well positioned to be- however, was paid mostly in cash. $1,958 Consumer Shareholders are pounding Wall vestments bought during the finan- come the first leader of a public Indeed, Mr. Schwarzman in- goods and Street’s biggest banks to slim down cial crisis. Late last month, the firm company to be paid more than $1 voked Mr. Jobs’ name at a confer- services or even break up. Hedge-fund disclosed that co-founder and billion in a single year. ence last week when he defended managers are under scrutiny as they Chief Executive Stephen Schwarz- his pay, which is nearly 30 times Sources: Associated Press, Thomson Reuters, repeatedly fail to outperform the man received an eye-popping pay- Largest. Payday. Ever. higher than Goldman Sachs CEO Nasdaq, Crain’s research, U.S. Securities and broader bull market.Yet in one cor- out of $690 million in 2014. For now, his massive 2014 pay- Lloyd Blankfein, who was awarded Exchange Commission ner of the city’s financial ecosys- This year could prove even rich- out appears to be the largest ever for $24 million last year. ADDICTED TO NUMBERS? GET A tem—private equity—times have er for Mr. Schwarzman, consider- a public-company CEO. The per- “The reason I have [a] lot more DAILY DOSE AT @STATSANDTHECITY never been better. ing that Blackstone has more than son to come closest to Mr. See SCHWARZMAN on Page 22

March 9, 2015 | Crain’s New York Business | 3 20150309-NEWS--0004-NAT-CCI-CN_-- 3/6/2015 6:42 PM Page 1 IN THE MARKETS by Aaron Elstein

OneOne game.game. A lifetime of happy CONSUMERS line up at the Apple Store, but investors might memories. want to go elsewhere.

Occasions here aren’t just special, they’re legendary. Gather a group ap images of 10 or more people and take advantage of one of our many group ticket specials. Party packages include pregame food and beverage options. So whether you’re entertaining friends and family, corporate clients, or Apple’s in the Dow, organizing a fundraiser, Yankees tickets put a smile on everyone’s face!

[email protected] AT&T’s out: Guess facebook.com/yankees @yankees which one’s a buy?

ith apologies to all the recent attention paid to the Nasdaq Composite Index for crossing 5000 for the Join our List for Event Notifi cations and Email Alerts first time since 2000, today, March 9, represents a W Dow www.CrainsNewYork.com/Newsletters more important anniversary: It’s the day in 2009 that the Jones industrial average hit rock bottom during the post- Lehman Brothers crash, closing at a sickening 6547.05.Those with the foresight to buy at that moment—or the fortitude to ride out the storm—have nearly tripled their money. On Friday came news that the nies to get the heave-ho. Of course, Dow is getting one of its periodic some companies’ problems are Same team. New address. tune-ups. Out goes AT&T, in comes harder to solve than others’. Bank of Apple. It’s the first change to the in- America, Citigroup, American dex since 2013,when Bank of America, International Group and General Motors Hewlett-Packard and Alcoa got the have all underperformed since be- boot,and Goldman Sachs,Nikeand Visa ing expelled from the Dow. The Flushing Bank Business Banking Team will be moving to a new Manhattan office were welcomed into the group of 30. But here’s the thing: To in- The Dow is a bizarre index— vestors—professional or other- at 99 Park Avenue in March 2015. At Flushing Bank, we’re small enough to know you more on that in a bit—but inclusion wise—membership in the Dow is clearly a proud moment for the matters not. Almost no one invests and large enough to help you. Our team of professionals is ready to provide you with a Silicon Valley giant that pioneered in the index. One way to tell is that comprehensive Business Banking product* set including: smartphones. And it looks like a the most popular exchange-traded sure sign of decline at AT&T,which fund to track it has $12 billion in as- first joined the index 99 years ago. sets. Compare that with an ETF But in truth, getting kicked out popularly known as the Spider, • Deposit products • Owner-occupied commercial of the Dow suggests AT&T shares which tracks the much broader • Business term loans real estate mortgages are about to rally. Recent history is Standard & Poor’s 500 stock index: full of Dow refugees flourishing. It has $190 billion in assets—and • Business lines of credit • SBA loans Since being cast from the market’s there are many more funds like it. Eden,Alcoa’s stock has risen by 89% There are lots of good reasons to and Hewlett-Packard’s by 63%, avoid making investment decisions while the Dow has returned 23%. based on Dow membership, but Altria’s stock has tripled and Honey- here’s one: The Dow is what’s Mary Ellen Bianco Leon Terrano George Bader well’s has doubled since their eviction known as a price-weighted index. Senior Vice President Senior Vice President Vice President in February 2008, while the index That means the higher a compo- mbianco@flushingbank.com lterrano@flushingbank.com gbader@flushingbank.com has returned 67%. Kraft has also out- nent’s stock price goes, the higher paced since the Dow said “see ya” in the index. Apple simply couldn’t be 212.477.9424 x0661 212.477.9424 x0664 212.477.9424 x0660 September 2012. included in the Dow before because These examples of outperfor- at $700 a share,its price would have mance most certainly reflect man- grossly distorted the index. A agement teams finally addressing seven-for-one stock split last year problems that caused their compa- took care of that. Ⅲ For more information call today or visit www.FlushingBank.com. NUMBER OF TIMES the word “community” appears in Etsy’s *All loans, lines of credit and mortgages are subject to credit approval. prospectus for its initial public offering. The Brooklyn-based Flushing Bank is a registered trademark 78 marketplace for crafts and homemade tchotchkes has hired Goldman Sachs, Morgan Stanley and another firm to help it raise $100 million.

4 | Crain’s New York Business | March 9, 2015 20150309-NEWS--0005-NAT-CCI-CN_-- 3/6/2015 6:38 PM Page 1

BLACKSTONE GROUP President Hamilton THE “Tony” James said he’s found the mayor to be with projects undergoing public re- “quite reasonable.” view, Halletts paid far more to a INSIDER land-use law firm—in this case, by Andrew J. Hawkins and Joe Anuta nearly $680,500 to Cozen O’Con- nor, which also does government- relations work. “Under the definition of lobby- Mayor asks Wall Street to step up ing, land-use lawyers are required to register and report their compensa- or more than a year, Mayor Bill de Blasio has been tion,” said Cozen O’Connor’s Ken- trying to impose rules on businesses: a higher minimum neth Fisher, a former councilman

ap images who handles government relations Fwage, a living wage, paid sick leave, affordable housing, a and land-use issues—and some- rent freeze and more. But there’s a limit to what he can impose. “‘Voluntarily’ is the operative ists to provide professional guidance,” times both—for real estate projects. So last week he embarked on a charm offensive in hopes word,” said Kathryn Wylde, president said Dick Dadey, executive director of SL Green Realty Corp. paid lob- that a better relationship with the private sector will help him and CEO of the Partnership for good-government group Citizens byists nearly $500,000, about half of New York City. Union. “You wouldn’t go into a court which went to Fried Frank Harris achieve his goal of reducing inequality. of law to defend yourself without the Shriver & Jacobson, a law firm with He first gathered members of the committee for his failed representation of a lawyer.” a large land-use practice known for bid to host the 2016 Democratic National Convention, a group To build a lobby, The second-biggest spender was handling public-review applications pay a lobbyist Halletts A Development Co., a for large developments. SL Green’s that included a fair number of high- help the city’s middle class.Then on team now led by the Durst Organi- office tower 1 Vanderbilt is proposed powered bankers and CEOs. Many Thursday,in a speech to the Associ- Developers behind massive projects zation that is building about 2,500 to rise 1,500 feet, across the street said they came away with a newfound ation for a Better New York, he be- in Brooklyn, Queens and midtown apartments on the Astoria water- from Grand Central Terminal. respect for the populist mayor. seeched the city’s business and civic poured nearly $3 million into lobby- front. The firm paid $60,000 to The extensive process of getting “While he has his beliefs and leaders to improve wages and bene- ing last year. government-relations firms, which projects certified by the Depart- everyone won’t necessarily share all fits for their workers. Albee Development, a consor- are typically retained for a monthly ment of City Planning and through of them, he’s quite reasonable, and “It’s time for New York City tium of developers building part of fee to meet with city officials and the seven-month public-review he really understands the economic businesses to take bold action,” he the City Point complex in down- the public to promote their clients’ process is one reason why real estate issues and he’s not going to do any- said. town Brooklyn, spent $1.2 million projects. firms are typically the top spenders thing to harm the city,”said Hamilton Business leaders note that New on lobbyists, by far the most of any Like many real estate companies on lobbying each year. “Tony” James, president and COO of York is a headquarters city, where firm in the city,according to a report Blackstone Group. “People came many employers—and certainly the from the city clerk. The recipient of away with a much greater level of types who shell out $100 to attend most of that cash, Washington QUOTE OF THE WEEK: ‘Many believed visceral comfort.” ABNY events—pay far above the Square Partners, is also one of the Days later, Mr. de Blasio met be- minimum wage. And many of them three partners on the project. Armageddon would befall us on Jan. 1, hind closed doors at City Hall with hope to avoid the types of mandates “As government has become more nearly two dozen Wall Street exec- that seemed to define Mr.de Blasio’s complicated to navigate, nonprofits [2014]. It did not, has not, and will not’ —Police Commissioner Bill Bratton, about the city under Mayor Bill de Blasio utives, urging them to do more to first year in office. and businesses have turned to lobby-

Call today (212) 220-8500

March 9, 2015 | Crain’s New York Business | 5 20150309-NEWS--0006-NAT-CCI-CN_-- 3/6/2015 2:05 PM Page 1

REAL ESTATE

Fifth Ave., between 27th and 28th streets. The asking rent was $75 a WebMD is latest firm to be square foot. “Frame has grown substantially in the past couple of years due to the pushed out of Google HQ ‘it’ status the company has been en- joying since its inception,” said Marc Schoen, the Savitt Partners amount over the life of the sublease broker who, along with colleague by charging a slightly higher rent Michael Schoen, represented the than the original asking price, in the tenant. Frame showed last month at $50s per square foot, than it was New York Fashion Week and re- seeking for the sublet. ceived promising reviews.It plans to “WebMD wants to build a very open its new showroom this spring. impressive, totally modern office, RXR’s investment Christel Engel of Colliers Inter- and we wound up reaching a deal national represented 245 Fifth that will help them do that,” said downtown pays off Owner LLC, the landlord for the Kyle Ciminelli, a broker with New- 24-story building. mark Grubb Knight Frank who rep- Last year, RXR Realty bought 61 —adrianne pasquarelli resented WebMD in the deal with Broadway for $300 million,anticipat- David Falk, the brokerage’s New ing that rents would increase in York area president. downtown Manhattan. A retailer grows A leasing team led by Scott The landlord was right. Invest- in Brooklyn Panzer and Steven Rotter, brokers ment-banking firm Samuel A. ebMD is the latest tenant to receive a sweet deal from with Jones Lang LaSalle,represent- Ramirez & Co. agreed to pay rents Another national retail brand will Google to vacate 111 Eighth Ave. ed Kaplan in the transaction. in the mid-$50s per square foot for land in Brooklyn. Boutique clothier The health information services company is receiving A spokesman for WebMD said 24,500 square feet at 61 Broad- Marine Layer is setting up shop an undisclosed pot of cash to relocate from the search gi- the publicly traded company is way—far higher than the building along Cobble Hill’s Court Street ant’s huge Chelsea office building to 395 Hudson St.,15 growing quickly and plans to con- has been able to net in the recent and furthering the transformation blocksW south, where it has signed a 150,000-square-foot lease. Google has tinue to add more staff. It will move past.Only a year ago,the asking rent of the retail strip, which was once been reclaiming space where it can at 111 Eighth Ave. in order to accom- into the new, larger space in 2016. at the 33-story, 750,000-square- home to local mom-and-pop shops. modate its own voracious needs. The sublease stretches for nine years foot property was in the $40s per San Francisco-based Marine WebMD’s new offices will allow the growing firm to expand by more than and has an extension option for at square foot. Layer, which makes men’s and 50% beyond the size of its current quarters at 111 Eighth Ave.and comes with least five years directly with the The firm signed on to take over women’s duds, joins other national building’s landlord, the New York the tower’s entire 29th floor. The outfits, most notably J.Crew and financial perks of its own.WebMD is Kaplan wooed WebMD by kick- District of Carpenters. deal is both a renewal and expan- Rag and Bone, that have signed subletting space at 395 Hudson St. ing in upfront cash to help the web- “They’re going to be investing a sion. Previously, the firm occupied leases along the Cobble Hill stretch. from test-prep company Kaplan, site pay for the construction of a substantial amount of capital into about 18,000 square feet on that It has inked a five-year lease for which recently reached a deal to state-of-the-art office, an often- this space,so it was key to make sure floor. move to 750 Third Ave. The health used concession among landlords that they would be able to take ad- Downtown Manhattan’s office firm will take over the entire third and sublessors to prompt tenants to vantage of that investment with a market is growing in strength amid and fourth floors at 395 Hudson St. take space. Kaplan will recoup the substantially long lease,” Mr. an influx of tenants pushed out of Ciminelli said. more expensive neighborhoods LISTEN to a discussion at CrainsNewYork.com/podcasts —daniel geiger such as midtown south.The area has also gained a cachet of its own as billions of dollars of infrastructure and transit improvements have taken hold at the World Trade Center site. Retail and other amenities are also ramping up in the area. Just last One client at a time. month, for example, the New York Post reported that famed sushi 1,600 square feet on the ground and restaurant Nobu is moving to 195 lower floors at 195 Court St., between The only way a finance solution can truly be customized. Broadway. Wyckoff and Bergen streets. Cur- Samuel A. Ramirez, which spe- rently,the retailer has only one New cializes in municipal-bond distribu- York City location, in Manhattan’s tion, was founded by its namesake, West Village. Marine Layer hopes AT WEBSTER BUSINESS CREDIT, WE HAVE OVER 30 YEARS of experience creating who is married to Diane Ramirez, to open in Brooklyn this spring. customized finance solutions, one client at a time. When you work with the CEO of Halstead, one of the “This is another example of a us, you’ll get our undivided attention and dedicated service. city’s largest residential brokerages. quality retail tenant choosing Court —daniel geiger Street for their first Brooklyn loca- To learn how we can help unlock your working capital, tion,” said George Danut of CPEX Call Warren Mino at 212.806.4500. WebsterBCC.com Real Estate, who represented the Fifth Avenue’s landlord, the Lily Jalinos Living claim to Frame Trust, along with colleague Ryan Condren. “J.Crew opened the gates Paul McCartney might have a new to a new pool of tenants on Court reason to visit the Big Apple. Street.” Frame Denim, the Los Angeles- The arrival of major retailers has Canajoharie, NY Englewood Cliffs, NJ and London-based jeans company helped push asking rents in the Revolving Revolving whose prod- neighborhood to nearly three times Credit Facility Credit Facility ucts are of- what they were more than five years ten worn by ago.In Marine Layer’s case,the ask- $5,300,000 $10,000,000 the singer- ing rent for the space was $200 per songwriter, square foot. has inked a The changes in Cobble Hill, deal for its such as the displacement of a gro- first Man- cery store by J.Crew, have caused hattan some consternation in the neigh- New York | Boston | New Milford | Philadelphia | Washington, DC showroom. borhood. At 195 Court St., Marine The compa- Layer will be replacing another bou- ny signed a tique clothing store, Goldy + Mac, All crededit produucts are subsu ject to the normal credit approval process. Webster Business Credit Corporation is a wholly 10-year deal which arrived on the strip in 2012. ownwned subsidiary of Webstster Bank, N.A. Member FDIC. The Webster Symbol is registered in the U.S. Patent and Trademark Office. for 6,200 Joseph Cirone of Cushman & square feet Wakefield represented Marine Lay- on the 19th er in the transaction. floor of 245 —joe anuta

6 | Crain’s New York Business | March 9, 2015 A MILESTONE SALE& RELOCATION &XVKPDQ :DNHÀHOGLVSURXG to have advised $PHULFDQ%LEOH6RFLHW\LQWKHPLOOLRQVDOHRI LWVJOREDOKHDGTXDUWHUVDW%URDGZD\LQ New York City.

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FXVKPDQZDNHÀHOGFRP 20150309-NEWS--0008-NAT-CCI-CN_-- 3/6/2015 1:25 PM Page 1

OPINION CRAIN’S NEW YORK BUSINESS

Dump this trash bill Rance Crain editor in chief publisher, vp Jill R. Kaplan n a section of the job-hungry South Bronx zoned The council is right to be concerned about the EDITORIAL concentration of trucks in certain parts of the city. But this executive editor Jeremy Smerd for heavy manufacturing—a mere minute or two assistant managing editors Barbara Benson, from the Major Deegan Expressway and the RFK bill, known as Intro. 495, would do more harm than good. It Erik Engquist would compel many stations to handle less waste, yet would senior news producer Amanda Fung (Triborough) Bridge—sits a trash-transfer station. copy desk chief Steve Noveck At the state-of-the-art facility, which like all such do nothing to reduce it. With the city’s waste stream deputy art director Carolyn McClain staff photographer Buck Ennis stations is enclosed to minimize odors, optical- growing by 4% to 5% every year, the consequence would be senior reporters Aaron Elstein, Matthew Flamm, sorting equipment and workers pull recyclable more waste processing in neighborhoods and at facilities less Daniel Geiger, Adrianne Pasquarelli reporters Joe Anuta, Andrew J. Hawkins, material from regular garbage so as little waste as possible suited for it. It’s not even certain that waste-industry Irina Ivanova, Jonathan LaMantia ends up in landfills. Its 120 employees are paid well above businesses would add the needed transfer-station capacity or data reporter Nicholas Wells I news producer Emily Laermer minimum wage and earn promotions if they perform well. build the composting facilities the council wants, given the editorial intern Yoona Ha Some hail from a program that steers defendants from the chilling message that Intro. 495 would send by undermining editor at large Glenn Coleman columnists Greg David, Steve Hindy, Alair Townsend criminal-justice system into productive employment. their previous contributing editors Tom Acitelli, In short, the transfer station is located exactly where it’s investments. Theresa Agovino, Paul Bennett, Lisa Fickenscher, Waste-station Erik Ipsen, Elizabeth MacBride, Judith Messina, supposed to be, hires the people who need jobs the most, This is the kind of Elaine Pofeldt, Miriam Kreinin Souccar, Cara Trager pays well and helps the environment. measure sends legislation that lets ADVERTISING Now get this: At least 20 City Council members want to politicians don a halo advertising director Joanna Harp chilling message sales manager Irene Bar-Am cut the plant off at its knees. of environmental senior account managers justice without helping Jill Bottomley Kunkes, Courtney McCombs, In the name of environmental justice, they are sponsoring to businesses Rob Pierce a bill to hamstring transfer stations like the one in the Bronx, the environment or account managers Zita Doktor, Stuart Smilowitz doing justice.The bill sales coordinator LeAnn Richardson which could have its waste-processing capacity reduced by credit manager Jason Hogan (313-446-0353) 50%.The result would be more trucks carrying trash across purports to limit CUSTOM CONTENT, EVENTS AND PRODUCTION the city for longer distances and spending more time on local garbage trucks but will director of custom content Trish Henry merely divert them to longer and less efficient routes. It director of audience & content streets, rather than highways. partnership development Michael O’Connor Bronx plant owner Action Environmental Services, for its increases disposal costs and pollution. And it pits director of conferences & events Courtney Williams part, would be stuck with an underused $15 million optical communities against each other. events coordinator Adrienne Yee sorter. And the Bronx, which has by far the highest The de Blasio administration, to its credit, opposes this events coordinator & scheduler Alexis Sinclair unemployment and the lowest median income in the city, well-intentioned but counterproductive bill. Its council reprint account executive Alicia Samuel could see dozens of the facility’s quality jobs disappear. sponsors would do well to dump it in the recycling bin. production and pre-press director Simone Pryce media services manager Nicole Spell ONLINE AND INTERACTIVE SERVICES CRAIN’S ONLINE POLL COMMENTS general manager Rosemary Maggiore TO SUBSCRIBE: For print and digital subscriptions or customer service, e-mail [email protected] or call 877-824-9379 (in the U.S. and Canada) or More than the minimum 313-446-0450 (all other locations). $3.00 a copy for the print edition; or $99.95 one year, $179.95 two Hixny is one of nine region- years, for print subscriptions with digital access. HIGHER WAGES PAY OFF SAVE MANUFACTURING www.crainsnewyork.com/subscribe al “qualified entities” in the Thanks to Greg David for a As a broker of industrial space, Statewide Health Information TO ADVERTISE: thoughtful column on the min- I have witnessed the dramatic Network of New York.Today, Contact Joanna Harp at [email protected] bloomberg news imum wage (Minimum wage, loss of space available for man- 70% of providers in the capital or call 212-210-0278. www.crainsnewyork.com/advertise WAS IT RIGHT FOR maximum anxiety,” Feb. 23). ufacturing companies that have region rely on Hixny for pa- MEMBERS OF CONGRESS His concern about a potential long provided good, stable jobs tients’ records to improve care, FOR INFORMATION ON OUR EVENTS: 60% hike in a two-year period for the city’s blue-collar work- reduce duplicate tests and avoid Contact Courtney Williams at TO BOYCOTT BENJAMIN [email protected] or 212-210-0257. would be best addressed by in- ers (Editorial, March 2). With adverse events stemming from www.crainsnewyork.com/events NETANYAHU’S SPEECH? dexing a new minimum wage to the mayor’s big push for more medications or allergies. inflation, avoiding the fits and affordable housing, there is a With state funding, the re- TO CONTACT THE NEWSROOM: Yes. It was a breach of protocol for Speaker starts we’ve seen in the past. danger of further loss of indus- gional systems will be connect- 685 Third Ave., New York, NY 10017-4024 John Boehner to circumvent the White House. One point the column omits trial footage. It is important ed to form a “network of net- editorial phone: 212-210-0277 fax 212-210-0799 No. Israel is a close ally of the U.S., and it is is the taxpayer benefit from a that the mayor make a strong works,” allowing providers to Entire contents ©copyright 2015 Crain Communications Inc. important to stand together. higher wage: It will decrease the commitment to the preserva- exchange information across All rights reserved. ®CityBusiness is a registered trademark amount of government transfer tion of what little space is left regions, with patients’ consent. of MCP Inc., used under license agreement. Date of poll: March 3 payments in the form of food for manufacturers. Ultimately, however, the 302 votes CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS stamps and other subsidies. —natalie hurwitz value of the network relies on chairman Keith E. Crain We have been in business the information it has. That’s president Rance Crain for 16 years and always paid BETTER, CHEAPER CARE why I encourage more doctors treasurer Mary Kay Crain our workers well above the to participate in their local net- Cindi Crain minimum wage. We pay a Re “NY’s $6.4B health reform work. As more patients provide executive vp, operations William Morrow starting wage of $13 per hour hinges on the click of a mouse” consent and more providers executive vp, director of strategic and have continued to grow (Feb. 16): As a cardiologist and participate, we have the poten- operations Chris Crain 50% 50% executive vp, director of corporate sales and profits. You get what a founding participant of tial to reshape the quality and K.C. Crain Yes No operations you pay for. We pay our work- Hixny, I have seen firsthand the cost of health care for all New senior vp, group publisher David Klein ers more, and we get greater benefit of fast, secure access to Yorkers. vp/production, manufacturing David Kamis dedication and productivity. electronic health records. It can —john bennett, m.d. chief financial officer Thomas Stevens Anthony DiPonio —david bolotsky be the difference between life President and CEO chief information officer Founder and CEO and death, and also improve Capital District Physicians’ founder G.D. Crain Jr. (1885-1973) UncommonGoods the cost and efficiency of care. Health Plan chairman Mrs. G.D. Crain Jr. (1911-1996) secretary Merrilee Crain (1942-2012)

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STEVE HINDY only part of the solution. We know the intersections in Bus drivers’ union is New York City that see the most crashes. Why not address the issue Break Away... by redesigning those intersections? on wrong side of law Why not program the stoplights to require all traffic to halt while pedestrians cross the street (the so- and make your business better he Transport Workers Union’s push to exempt bus called Barnes Dance)? drivers from prosecution for killing pedestrians in Why not equip vehicles with sensors that detect pedestrians and crosswalks is an unfortunate example of “union bicyclists and warn drivers that power” ignoring the interest of the public. others are in peril? The TWU bill in the City Council is supported Why not ease the MTA rules by 16 council members, many of whom are recipients of politi- that require bus drivers to maintain T a certain time schedule? cal contributions from the TWU. Don’t TWU leaders want to pro- Critics of public-employee unions—like Wisconsin Gov. tect their members from the trauma of a crash that kills? Scott Walker—will have a field day bus driver while walking across the Of course, each of those actions with this case. street in Manhattan in 2009. will require all drivers in New York Councilman I. Daneek Miller, in That driver was not held account- City to slow down—and isn’t that an op-ed in the Daily News,cited the able because it happened before the the essence of Vision Zero? Moral- traumatization of the bus driver who Industries served: passage of the Right of Way law. But ly, a single human being walking in was recently arrested for hitting a he, too, was traumatized and report- a street has just as much right to do Financial Services . Manufacturing & Distribution . Technology 1RWIRU3URÀW . Retail . Construction . Architecture & Engineering 15-year-old girl in Williamsburg. edly is on permanent disability. so safely as a single human being en- . . There was no mention of the trauma Real Estate Healthcare Transportation & Shipping Nine people were killed by buses cased in the tons of steel that we call Media, Entertainment & Telecommunications of the young victim, who may lose a in 2014. Mayor Bill de Blasio has a car or a truck or a bus. leg and be maimed by the crash. declared a commitment to Vision The street signs say, “WALK” I am a member of Families for Zero that requires the city to address and “DON’T WALK.” They don’t 488 Madison Avenue, New York, NY 10022 Safe Streets, a group of people who this scourge. The premise of Vision say,“WALK,BUT WATCH OUT 50 Jericho Quadrangle, Jericho, NY 11753 have been injured or lost loved ones Zero is that most traffic deaths are THAT YOU DON’T GET HIT 10 Esquire Road, New City, NY 10956 in traffic crashes. This organization not “accidents,” but rather prevent- BY A BUS OR A TRUCK OR A www.grassicpas.com wants the world to focus on the trau- able crashes. Enforcement of the BICYCLE!” ma of victims of preventable traffic Right of Way law is one way to work The TWU would do well to re- violence. People like Debbie and toward Vision Zero. member it is a public-employee Harold Kahn have come forward to But holding the driver of a bus union, and it should be committed PROMOTE. spotlight the death of their 22-year- or a car or a truck accountable for to the public interest, as well as the Why not? old son, Seth, who was killed by a failing to yield to a pedestrian is interest of its members. Let the Custom Reprint Department help you promote this great press.

CRAIN’S® N E W YORK BUSIN ESS

VOL. XXXI, NO. 1 WWW.CRAINSNEWYORK.COM JANUARY 5-11, 2015

CRAIN’S® N E W YORK BUSIN ESS

VOL. XXXI, NO. 1 WWW.CRAINSNEWYORK.COM OPINION JANUARY 5-11, 2015 CRAIN’S® NEW YORK BUSINESS CRAIN’S® N E W YORK BUSIN ESS OPINION VOL. XXIX, NO. 39 WWW.CRAINSNEWYORK.COM SEPTEMBER 30, 2013 ExpandVOL. XXXI, NO. 1 WWW.CRAINSNEWYORK.COMthe Frick museum 11 1 JANUARY 5- , 20 5

mong the many things hang their coats and use the bathrooms. expansion plan the Frick envisioned all Expand thethat makeFrick New York City Modern museum wheelchairs cannot fit through those years ago. NY Area’s Largest Accounting Firms great areOPINION its museums. the doors. The museum’s thoughtfully updated More than 100 of them, Decades ago, museum officials and designed proposal, which requires Ranked by number of area professionals each with its own bought and demolished three adjacent both a zoning exception and landmarks $ mong the many things hang their coats and use the bathrooms. expansion plan the Frick envisioned all #$$ $ & # character, enhance the quality of life for buildings to expand their Fifth Avenue commission approval, is to replace the ! # % $& ' & ! !! that make New YorkA City Modern wheelchairs cannot fit through those years ago. " ! ! ! " " residents and keep tourism dollars institution and connect it to the Frick private garden with a public one on the great are its museums.flowing intothe locals’doors. pockets. Art ReferenceThe Library. museum’s They thoughtfully couldn’t updatedroof of a new addition. The neighbors’ ( B190'9 %&@E341B " ! ! "! / Expand the Frick museum 6GPUd`Y$gQ hhhahII`X + + !+ More than 100 of them, Decades ago, museum officials and designed proposal, which requires Among the many things that make afford to do the project then, so they kvetching, boiled down, is that they will 7QhE`cV7E each with its own bought and demolished three adjacent both a zoning exception and landmarks the city infuriating are its kvetchers. created a splendid private garden on the lose their view of a closed garden. We )*+, -.*/ ")@DD%'7750'H " ! / character, enhance the quality of Theselife for arebuildings the folks to expand who theirreact Fifth to Avenue commission approval, is to replaceside the with the other 8.3 million New AUXQd@bfGcQ hhhQpI`X 5)4'179C1BB' !+ "+ + A mong the many things hang their coats and use the bathrooms. expansion plan the Frick envisioned all 7QhE`cV7E residents and keep tourism dollarschange byinstitution asking, “What’sand connect in itit tofor the Frick private garden with a public one Yorkerson the and 55 million tourists who flowing into locals’ pockets. Art Reference Library. thatThey make couldn’t TheNew York roofpublic Cityof a newModern addition. wheelchairs The neighbors’ cannot fit through those years ago. !" !@(1BD %'BB1DD " ! / me?” They bemoan any idea that would get a garden they can visit—and 8GcV$gQ hhhVaXSI`Xfd + "+ + Among the many things that make afford to do the projectgreat then, areso theyits museums.kvetching, boiledthe doors. down, is that they will The museum’s thoughtfully updated 7QhE`cV7E might inconvenience them. More thanbenefits 100 of them, offsetDecades ago, museuma vastly officialssuperior “houseand designed museum” proposal, which requires the city infuriating are its kvetchers.Whichcreated brings a splendidus to privatethe Frick garden on the lose their view of a closed garden.experience, We too. 01-2,,0 " 19BH 45775AC ! ! YP / These are the folks who react to each withthe itslostside ownwith views thebought other of and 8.3 demolished million New three adjacent both a zoning exception and landmarks 9ÌVQRQWWQc8WGqG hhhPQWÙeeQI`X + YP ! + Collection, the magnificent little art The Frick could build on its property 7QhE`cV7E change by asking, “What’s in it for character, enhance the quality Yorkersof life for andbuildings 55 million to expand tourists their who Fifth Avenue commission approval, is to replace the museum housedThe p Aublicin the former a privileged few without a zoning action, but the current 2+*0)340) ""! 4'B71C%159CD159 /" residents and keep tourism dollars institution and connect it to the Frick private garden with a public one on the me?” They bemoan any idearesidence that of Gilded Age industrialist would get a garden they can visit—andrules demand a tall, thin building that’s ATUcP$gQ hhhQUdYQcGXaQcI`X @G'B0@419 + + "+ flowing into locals’ pockets. Art Reference Library. They couldn’t roof of a new addition. The neighbors’ 7QhE`cV7E might inconvenience them. Henry Claybenefits Frick. offset a vastly superior “house museum”hardly ideal for a museum. Of course, if Which brings us to the Frick Among the many things thatexperience, make affordtoo. to do the project then, so they kvetching, boiled down, is that they will -5*06*278 " "D1F19'H1B ! " " /!! A longtimethe fixture lostthe cityofviews theinfuriating city’s of are its kvetchers. created a splendid privatethe Frick garde nhad on theproposedlose suchtheir aview tower, of a closed garden. We @UieT$gQ hhhI`TYcQqYUIVI`X + + + Collection, the magnificent littleMuseum art Mile, the Frick has seen its expansion siteThe in Frick the interim. could build on its propertyneighbors would have griped about that 7QhE`cV7E museum housed in the former These are the folks who withoutreact to a zoning action, but the current side with the other 8.3 million New attendance arise p nearlyrivileged 40% since few the Neighbors of the museum, suddenly as well. They want the garden, and )*, 5-)*,-* "" B'96EBB1 YP residence of Gilded Age industrialist change by asking, “What’s rulesin it demandfor Thea tall, thin public building that’s Yorkers and 55 million tourists who ATUcP$gQ hhhScGYeeT`cYe`YI`X + + YP mid-1990s but lacks me?”the space They to showbemoanblessed any withidea athat view of a garden rather everything else, to staywould the way get ait garden is. they can visit—and 7QhE`cV7E Henry Clay Frick. much of its collection of Old Master than the hardlysides idealof buildings, for a museum. came Ofto course,“It’s if a beautiful garden,” a museum A longtime fixture of the city’s might inconvenience them. the Frick hadbenefits proposed such offset a tower, a vastly superior “house museum” )7.3 ! 122B1H%%1591B / HEALTH CARE INFLATION paintings, European sculpture and treasure the green space, although (or official admits. “We built it.” ATUcP$gQ hhhXGcIfXWWaI`X + "+ + Museum Mile, the Frick has seen its expansion site Whichin the interim. brings us to theneighbors Frick wouldthe have lost griped views about that of experience, too. 7QhE`cV7E decorative arts. Its concertCollection, series the and magnificentperhaps because)little art it was closed to the And now it’s ExhibitThe A inFrick a classic could build on its property attendance rise nearly 40% sincestudent the programsNeighbors cannot of the meetmuseum, the suddenlypublic. Youas canwell. tell They where want this isthe going: garden,lesson and of New York City land use: No 719)0: &@9'70F%5A'B5 " ! /! museum housed in the former a privileged few without a zoning action, but the current !@UieT$gQ hhhXISWGPcQpI`X + + + mid-1990s but lacks the space todemand. show blessedPatrons with wait a inview lines of justa garden to Somerather neighborseverything now else, object to stay tothe theway itgood is. deed goes unpunished. 7QhE`cV7E much of its collection of Old Master than the sidesresidence of buildings, of Gilded came Age to industrialist“It’s a beautiful garden,” a museum rules demand a tall, thin building that’s !!! B5'9))71CD@9 " " / paintings, European sculpture and treasure theHenry green Clayspace, Frick. although (or official admits. “We built it.” hardly ideal for a museum. Of course, if 8GcV$gQ hhhHPÌ`X !'90H")4G'BDI8'9 + !+ "+ decorative arts. Its concert series and perhaps because)A longtimeit was closed fixture to theof the Andcity’s now it’s Exhibit A in a classic the Frick had proposed such a tower, 7QhE`cV7E Museum Mile, the Frick has seen its expansion site in the interim. neighbors would have griped about that -,5+,02* ++ "" "D1F19'CC ! " /" student programs cannot meet the public. YouReprinted can tellwith wherepermission this from is thegoing: Crain's Newlesson York Business of New. © 2015 York Crain City Communications land use: NoInc. All Rights reserved. @UieT$gQ hhhcVIÌ`X #4@8'CF93177 + + + demand. Patrons wait in lines just to Some neighborsattendanceFurther now duplication riseobject nearly withoutto 40%the permission sincegood is deedthe prohibited. goesNeighbors Visit unpunished. www.crainsnewyork.com. of the museum, #NB15004 suddenly as well. They want the garden, and 7QhE`cV7E" mid-1990s but lacks the space to show blessed with a view of a garden rather everything else, to stay the way it is. 02+0)6)+ ! &@E37'CF% 45775AC " / much of its collection of Old Master than the sides of buildings, came to “It’s a beautiful garden,” a museum DeT@e hhhhQUdQcXGqGcdI`X + + + paintings, European sculpture and treasure the green space, although (or official admits. “We built it.” 7QhE`cV7E Reprinted with permission from the Crain's New York Business. © 2015 Crain Communications Inc. All Rights reserved. -**-) ;20+ ! 1F59%1'91 ! /!! decorative arts. Its concert series and perhaps because) it was closed to the And now it’s Exhibit A in a classic )UReT$gQ hhh`PaVRI`X + + !+ Further duplication without permissionstudent is prohibited. programs Visit www.crainsnewyork.com. cannot meet #NB15004the public. You can tell where this is going: lesson of New York City land use: No 7QhE`cV7E demand. Patrons wait in lines just to Some neighbors now object to the good deed goes unpunished. 2,)2* --40)3* - " @17F%@@A1B8'9 ! " / ")UReT$gQ hhhIUecUYI`àQcXGYI`X + + + 7QhE`cV7E

Reprinted with permission from the Crain's New York Business. © 2015 Crain Communications Inc. All Rights reserved. A costly side effect IN THE PAST FIVE YEARS Further duplication without permission is prohibited. Visit www.crainsnewyork.com. #NB15004 NY area +15.3% Hard Copies Eprints (Digital Reprints) Plaques & Frames Logo Licensing

U.S. +12.0% For more information contact of hospital mergers Alicia Samuel, Reprint Account Executive Source: Bureau of Labor Statistics [email protected] • tel 212.210.0750

ew York City hospitals seem to have a thing for while it is slowing elsewhere. suburban Westchester County. One reasonable explanation for First, Montefiore Medical Center decided to this unhappy state of affairs is the BATTERY PARK CITY AUTHORITY expand its stronghold in the Bronx across the continuing expansion of hospital networks. county line,acquiring two bankrupt Westchester The key reason hospitals surren- Request for proposal for South End Avenue & Nhospitals and then luring White Plains Hospital into an affili- der their independence is because West Thames Street Streetscape Design Services ation.New York-Presbyterian Healthcare System couldn’t leave they no longer have the clout to win such a wealthy market to a rival, so it recruited Lawrence what they consider reasonable reimbursements from insurance Hospital in Bronxville and Hudson companies. The RFP may be obtained online at Valley Hospital farther north into Of course, when hospitals com- http://batteryparkcity.org/Who-We-Are/ its competing alliance. mand higher rates,premiums go up. While consolidation has been an Once, this meant pressure on em- Opportunities_2.php. issue across the country, the pace of ployers, who absorbed some of the hospital mergers has accelerated in increases and passed others on to New York in recent years to create workers. Addenda to the RFP, if any, ever-stronger networks. With the Affordable Care Act, will be posted at this site. The key players are New York- higher prices are also showing up in Presbyterian, Montefiore, Mount the cost of insurance purchased on Sinai Health System and North the New York state health- For any questions regarding this RFP, Shore-LIJ Health System. NY- insurance exchange by individuals Presby illustrates the scope of the not covered at work. please email Michael LaMancusa, consolidation because its affiliates GREG DAVID Admittedly, patients can benefit include 10 acute-care hospitals (one from the medical discipline the [email protected] in Connecticut), as well as specialty area’s leading hospitals eventually facilities, rehabilitation centers, tion reached 4% here, much more impose on their affiliates. Many nursing homes and two ambulatory than the overall U.S. figure of 2.6%. smaller facilities need the access to care members. During the past five years, health capital and the financial manage- The consequence of consolida- care prices rose 15.3% in the New ment that networks provide. tion is clear from the chart. Health York metro area, compared with In the end, though, it will be bad care costs are rising much faster in 12% nationally. if consolidation continues to drive the New York area than in the rest of More worrisome is that health up prices in New York more than in the country.Last year,medical infla- care inflation is accelerating here the rest of the country. March 9, 2015 | Crain’s New York Business | 9 20150309-NEWS--0010,0011-NAT-CCI-CN_-- 3/6/2015 2:11 PM Page 1

Seniors’ moment Create your Continued from Page 1 then-56-year-old venture capitalist Vinod Khosla famously told an audi- own luck ence a few years ago, people under 35 “make change happen” while those over 45 “basically die in terms of new ideas.” Marty Gindi, 56 Such well-seasoned entrepreneurs are no exceptions. Between 1996 and Founder and 2013, Americans between ages 55 and 64 started companies at a higher rate chief technical officer, than those 20 to 34, according to research by the Kauffman Foundation. Tribeca Mobile Innovations Indeed, 55- to 64-year-olds accounted for a quarter of all new ventures in 2013. FOR MARTY GINDI, THE CATALYST And many are serial impresarios, for churning out one startup after another. starting his own firm was a comment by a former boss 20 years his junior that Invaluable experience Mr.Gindi,a veteran of the storied Bell There’s even an ecosystem that’s developed to help these graying risk- Labs, was not “tech enough.” takers rev their entrepreneurial engines. The younger man’s assessment— “The biggest challenge is not access to however inaccurate—pushed Mr. capital, but access to learning how to do buck ennis it and to a supportive community infra- Gindi out of the corporate job market structure,” said Elizabeth Isele, co- and toward a new path. Considering founder of the website Senior Entre- preneurship Works. the tech landscape for older professionals, he 20 million calls a year. He’s currently en- think, of course it’s going to work, and you Far from being fresh out of ideas or thought, “This is a hard game to play. Why sconced in Boulder, Colo., for a three-month never want to give up.” Still, challenges energy, older entrepreneurs bring ad- don’t I just do it myself?” stint at that city’s Boomtown accelerator; it’s a abound for older professionals in his field. vantages the youngsters can neither Two years later, Mr. Gindi became the prelude to a search for outside funding. Forget the tech itself; staying current with the muster nor fake: invaluable experience, founder and technical brain behind Tribeca Though a tech whiz from an early age—he vernacular can be a real hurdle. Asked if his prolific networks, management skills, Mobile Innovations, a four-person company would have been the 20th or so employee at company used GitHub,for example,he had no industry knowledge and an intuitive whose CallSmart product lets businesses dis- Microsoft if he’d been willing to move to Seat- idea what it was. Then he quickly realized sense of what works—and what doesn’t. play customized, actionable Web pages during tle, he said—Mr. Gindi never thought he’d be GitHub is just a place to store source code, and after customer service calls. The firm, an entrepreneur,having watched his father fail something he used at Bell Labs 20 years ago. which Mr. Gindi has financed with his own at his own attempts. Once he began to build It took even less time to realize that being ‘Older and partners’ money, is today at work on a po- CallSmart, though, he couldn’t stop. his own boss was a dream come true.“I love the entrepreneurs tential pilot for a Fortune 500 firm that receives “It becomes a bit addictive,” he said. “You freedom to build what I want,”Mr.Gindi said. are more likely IN 2014, DAVID GRUPPER WAS OUT OF A JOB, and David to be successful’ Klein was out of steam. From their mutual dead-end Solve for X frustration was born Point Made Animation, a startup that creates animation for PowerPoint presentations and David Klein, 62, “explainer” videos. It was a lightbulb moment for Mr. Klein (left). “The older a person is,the more like- David Grupper, 60 ly they are to be an entrepreneur,” said Contemplating the video limitations of Microsoft Edward Rogoff, director of Baruch Co-founders, Point Made Animation PowerPoint, the longtime illustrator for such print College’s Lawrence N.Field Center for Entrepreneurship and Small Business. publications as The New York Times thought,why not use animation “Young entrepreneurs who have been instead? When he shared the idea with Mr. Grupper, his friend “lit successful get a lot of attention, but up like a rocket.” they’re rare. Older entrepreneurs start “I wanted to take control over my situation,” said Mr. Grupper, bigger businesses and are more likely to a lifelong art director and graphic designer who’d been laid off a year be successful.” earlier from his job as the ACLU’s marketing and publications manager. An affinity for risk “We found a niche in the overlap between video and Which isn’t to say the older set is a live presentation,” said Mr. Grupper. “Our product bunch of overconfident daredevils.This breaks that technology barrier.” group watched the latest recession eat But though both men were confident in their away at their savings, leaving them with product,they were also painfully aware of their in- less time to recoup losses and more cause experience as business starters. Courses in entre- to be risk-averse. “From a financial per- preneurship at the Hebrew Free Loan Society spective, this was clearly not the and through the Brooklyn Library settled them. smartest thing I’ve ever done,” said “It got us to actually write the plan,” said Paolo Gaudiano of his startup, Info- Mr. Klein. mous, noting he has yet to see any re- Today, they are focused on building a cus- turns. “But I like risk and have always tomer base. Sharing an office in Park Slope, the felt that if I have a good idea and can put duo has yet to hire full-time staff or collect my best effort into it,I should pursue it.” salaries—they stashed money to prepare for the If risk-taking has no age limit, nei- scaling period—but they’re gaining momen- ther does the vision to imagine some- tum with each repeat client. As for outside thing new nor the drive to make it a re- money, “we’re working on that, too,” said ality. Here are 13 local entrepreneurs Mr. Klein. who prove that some dogs are never too Neither regrets the move he made.“It’s like old to learn a new trick or two. ■ taking the wheel of the ship,” said Mr. Klein. “When we were trying to get a salaried position or LISTEN to a discussion at even freelance work in the new publishing world, CrainsNewYork.com/podcasts ageism was an issue. As soon as we created a business of our own, it no longer was.” buck ennis 10 | Crain’s New York Business | March 9, 2015 20150309-NEWS--0010,0011-NAT-CCI-CN_-- 3/6/2015 2:08 PM Page 2

Michael Read the Isaacman, 52 signs Co-founder, Mack Weldon

ONLY WHEN HIS FUTURE BUSINESS PARTNER pegged the lack of style and comfort in men’s underwear as an opportunity did Michael Isaacman begin to pay real attention to his own skivvies.Specifically,“I noticed my boxer shorts were always falling out of my jeans.”Inspired, if a little obsessed, he began a deep dive into the consumer market, buying and trying every manner of men’s unmentionables he could get his hands on—and his legs into. But as is the case with many boomer entrepreneurs,

opportunity was only half the story. Mr. Isaacson, a 20-year fashion pro with brands like Tommy Hil- figer and Ralph Lauren, was done with an industry he felt had lost its way. “It is not a fun time to be in the apparel business,” he said. “We’re all freelancers now— four- or five-year gigs and you’re on to the next company.” Mr. Isaacman was working for Jay Z’s Roc Apparel Group, overseeing design, product development and mer- chandising, when the company was sold. It was time for a change. In 2012, funded by angel investors, he and his partner, Brian Berger, now 41,a former vice president of strategy and development at Com- cast Interactive Media, founded Mack Weldon, an online collection of undershirts, T-shirts, socks, boxers and briefs. After years of serving middlemen—department-store buyers—Mr.Isaacman finds the e-commerce aspect of his new business liberating. “That’s the huge difference—having access to the consumer, being able to get him what he wants when he wants it,”he said.What the customer wants,apparently,is high- quality undergarments. Three years in, Mack Weldon is field- buck ennis ing 3,000 new customers a month, Mr. Isaacman said. Last month, the company announced a $4 million Series A venture round. buck ennis Mr. Isaacson’s age has been a nonissue, superseded by his rag- trade savvy, and the complementary skill sets of the two partners. “One of the things investors like best is the combination,” he said. Think big Plus, no one can say no to a nice pair of briefs. Susan Solomon, 63 Founder and CEO, Make it New York Stem Cell Foundation STRAIGHT OUT OF THE CLICHÉ, Susan Solomon started her personal venture at her kitchen table. From those cramped quarters, she raised $1.1 million for her New York Stem Cell Foundation, created to discover cures for deadly and Jeanne Pinder, 60 debilitating diseases. Founder and CEO, A lawyer and former executive at Sony and private-equity ClearHealthCosts.com shop MacAndrews & Forbes, Ms. the production of stem cells for use Solomon had become a disease in further study. The foundation advocate years before when her also maintains the world’s largest IT STARTED WHEN JEANNE PINDER SPENT A YEAR dickering with her provider over a $1,419 then-10-year-old son was diag- stem-cell research repository. nosed with type 1 diabetes.Subse- The foundation may be a non- hospital bill for an anti-nausea drug she found online for $2.49. As she recounted the ordeal quent brushes with family illness profit—$21 million of its annual in an entrepreneurial journalism course at CUNY,she found that hers was a universal problem and death further fueled a desire to budget comes from philanthro- in need of a solution. “You could see how my experience duplicated across the country could make a difference. “I felt my own pists—but Ms. Solomon wants it be the basis of a business,” said Ms. Pinder. mortality,” she said. “In the time I to have the footprint of a multina- have left, I wanted to use my skills tional. “Every year, I apply the In 2011, with more than $50,000 in grants from the Knight Foundation, the Ford as an entrepreneur to have an im- abducted-by-aliens test to our Foundation and the McCormick Foundation’s New Women Media Entrepreneurs Project, pact on the terrible diseases that management plan and budget,” affect us all.” she said. “If we disappeared, the former New York Times editor founded will have to start explaining.” Nearly 10 years later, the foun- would we leave a large enough hole ClearHealthCosts.com to decode the murky world of When Ms. Pinder founded the company at 57, dation—with an annual budget of that it would make a difference?” consumer health care pricing. She hopes her compa- people thought she had some explaining to do. They $22 million that employs more Ms. Solomon, who was 52 ny’s searchable database of costs—culled from asked if she was going to be able to learn to develop than 45 stem-cell researchers in when she launched the founda- providers, Medicare and consumers around the coun- software and why she couldn’t find an easier problem New York City and supports an- tion, said it never occurred to her try—for procedures from mammograms to vasec- to fix.In the end,of course,her age mattered not at all, other 70 around the world—is that age might be an issue. In fact, tomies fosters smarter personal choices and helps even as she came to grips with how hard it would be working to unlock the keys to in some ways it has been a virtue.“I those who might want to challenge dubious billing. to build a business. Parkinson’s, multiple sclerosis, work all the time because I have the While Ms. Pinder earns money consulting and li- “Everything was new,” she said. “Whether to cre- Alzheimer’s, diabetes and other freedom I did not have when I was censing a version of her interactive health care pricing ate a C corp, an S corp or an LLC. How to approach devastating conditions. One of its younger and had kids at home,”she tool to public radio stations, she plans her next step: the health care marketplace, finding a developer, key developments prevents the said. Failure, age-related or other- collecting data on health care quality and value, two choosing a platform.” transmission of mitochondrial wise, is not an option. “I can envi- underquantified factors.“You don’t want the cheapest Still, her advice to other graying entrepreneurs is disease from mothers to children. sion the next chapters, but I can’t MRI necessarily; you want the best value,” she said. unequivocal: “Don’t take no for an answer—if people Another technology automates imagine having no chapters.” “Once price disparities are out in the open, providers say it’s hard, do it anyway.”

March 9, 2015 | Crain’s New York Business | 11 20150309-NEWS--0012,0013-NAT-CCI-CN_-- 3/6/2015 2:10 PM Page 1

Play against type Paolo Gaudiano, 52 Co-founder and CEO, Infomous

TECHNICALLY, PAOLO GAUDIANO is not a rookie entrepreneur. More than three decades ago, he repurposed his college Ride tuition money to start an auto-body business in Santa Barbara,Calif.That lasted only a few months before he made his way back to college, eventually ending up teaching

your computational neuroscience at the university level and clix

working for several tech companies. solicit outside funding,his experi- wave But Mr. Gaudiano, a native of Mi- ence and Ph.D. can open doors Rewrite lan who grew up in Rome,got a second and establish credibility with first chance at entrepreneurship in angel investors. Not everyone Richard 2013,when an online content-tracking is so welcoming, though. “I Merians, business he helped to spin off from a haven’t heard anything explic- any 82 predictive-analytics firm in Cam- itly,”he said,“but at some en- bridge, Mass., lost its CEO and began trepreneurial events, I’m Founder and CEO, to struggle. Mr. Gaudiano pumped in twice the age of anyone else.” DeliveRight Logistics some of his own cash, restarted the Rather than fight to rule business in New York City and set him- shoehorn himself into that self up as chief executive. fresh-faced community, Eli IF THE WORD within tech circles Infomous today has a small but he decided to deploy growing number of partners, such as someone who looks a lit- Goodrich, 60 is boomers can’t innovate,what Australian research company Twist of tle more the part: a 27- do you think they have to say Lime, that integrate its content- year-old co-founder who Founder and president, about the so-called Silent discovery platform with their services is helping to raise the buck ennis Generation? Whatever they’re and events.“Our goal is to make it eas- company’s visibility in Game Changer Sales ier for people to explore content on- social media.“Being able saying, Richard Merians is line, especially in the context of dis- to see the world through here to tell them they’re wrong. covery, how to find an article you’re the eyes of someone in a TECH INDUSTRY VETERAN Eli interested in,” Mr. Gaudiano said. very different social and Goodrich was 56 when he A longtime entrepreneur, Mr. Like many more-mature tech en- age context is valuable Merians recently invested $700,000 trepreneurs,he’s found his gray hair has for me,” Mr. Gaudiano finally asked himself a basic of his and his partners’ money, plus its pros and cons.Though he has yet to said. question. After working for another $1 million in angel funding, big companies like Computer in DeliveRight Logistics, an Inter- Associates, 3M and Microage, net-enabled service that aims to help brick-and-mortar furniture he’d grown weary of the stores compete against online retail- plodding corporate pace. “I’m ers. “If retailers, especially small Take guys, don’t have some way to com- working for another company that bat the online retailers, they are go- feels like it’s not moving forward,”he ing to be out of business,”Mr.Meri- the time said.“And I had to wonder: Am I just ans said. always antsy?” His wife had the an- Mr. Merians’ other business, swer,in the form of another question: Home Delivery America, which Holly-Dale Shapiro, “Why don’t you work for yourself?” grew out of a company he started in 70 Within 90 days, he came up with 1965, hauls furniture and appliances the idea, and in 2012 founded Game for companies like General Electric Founder and CEO, GoGo Golosh Changer Sales, a company that pro- and Home Depot. Like many older vides contract salespeople to foreign entrepreneurs,he’s found it helpful to IN MATTERS OF ENTREPRENEURSHIP, technology firms trying to gain a U.S. build on what he knows—in this case, Holly Shapiro is a student foothold, tech startups that can’t af- logistics—and the networks he has of the hang-in-there school.It took her seven years to bring ford their own sales teams and com- cultivated over decades. her stylish, portable rain boots to market, but she’s now panies looking to move into new “My track record has helped a selling them online, at high-end stores like Hammacher markets. “I’ve developed a tool that lot,” he said, “but equally important brings it down to specific activities is my experience. I’ve been in the Schlemmer and Belgian Shoes, and at several specialty and the effort it will take to achieve

same business since I was a young ellenson nomi shops around the U.S.“At this point in my life,I’m no longer it,” he said. man.” Currently, Game Changer Sales The about-to-launch Delive- shy,” she said. “I have gotten to be pretty fearless.” targeted at women who are both fashion- and price- has a dozen contract salespeople— Right displays furniture from mul- A photo stylist and jewelry and accessories design- conscious. some with ownership stakes—and tiple manufacturers on large flat er, Ms. Shapiro was motivated by a misstep—into a Ms.Shapiro,who has sunk six figures of savings into eight clients. Last year, Mr. screens in retailers’ showrooms, al- puddle while wearing Louis Vuitton heels. She began the venture, said she’s had difficulty attracting outside Goodrich said, it generated $5 mil- lowing stores to expand offerings to imagine an alternative to schlepping full-size boots financing.If you ask her,companies like GoGo Golosh lion in sales for its customers while without investing in expensive in- in a bag. But she was starting from scratch, and needed are overlooked by investors because they aren’t fast- earning about $750,000 in fees and ventory.Customers can order online to spend years learning how to run a business, how to growing tech startups. “Most of the people I’m pitch- commissions. on the spot, and DeliveRight han- produce shoes and how to find a manufacturer. ing to are a lot younger than I am,” said Ms. Shapiro. As for his boomer status, it has dles everything else, delivering the Good thing she was a New Yorker: “The city has a “They look to young people for new ideas even if they been a distinct advantage. After all, goods within three to five days, said lot of opportunities to learn business skills—whatever just regurgitate old ones.” he got to where he is today by draw- Mr. Merians. you don’t know,” she said. On the other hand, her age has provided a more ing on lessons learned during a life- As for starting a business at this Made in China, her lightweight, waterproof boots balanced perspective. “What business doesn’t have a time in sales and tech. “I thought stage of life, Mr. Merians has news went on the market in November 2013. Priced at $99, lot of hurdles?” she asked.“I can cope a lot better than about all the things I saw that I for the whippersnappers: “It’s chal- they fit over shoes and roll up into a pouch that fits in a when I was younger. Back then, I took things a lot didn’t like,” Mr. Goodrich said, “and lenging, but it keeps you younger.” purse.More Stuart Weitzman than Prada,the boots are more personally.” figured out how to fix them.”

12 | Crain’s New York Business | March 9, 2015 20150309-NEWS--0012,0013-NAT-CCI-CN_-- 3/6/2015 2:10 PM Page 2

Dismiss the doubters Lynn Zuckerman Gray, 65 Founder and CEO, Campus Scout

WHEN LYNN ZUCKERMAN GRAY’S JOB was swallowed up by Lehman Brothers’ 2008 collapse,she figured she already had three strikes against her:age,gender and an unwanted expertise. The then-nearly-60-year-old had been the administrator of Lehman’s global real estate business, saddling her with the kind of acumen a recession-racked world wanted nothing to do with. She sent out hundreds of résumés—and received a lot of silence in return. So,in February 2009,she took the Kauffman Foundation’s FastTrac course

for would-be entrepreneurs and was re- website—and a wealth of industry knowl- minded that one of the tasks she most en- edge kept her afloat. “We have expertise joyed at Lehman was hiring college students companies don’t have,” she said. “They can for summer internships.She figured compa- trust us.” nies could use a go-between on campuses to Today, the firm has 28 clients and a ros- help identify and interview potential candi- ter of services that includes recruiting both dates.“I knew there was a more strategic way for summer internships and for “slightly of doing recruiting,” she said. more seasoned” Wall Street analysts. Ms. Her hunch paid off.By April,she had in- Gray is about to launch Campus Scout Ca- corporated her Manhattan company, Cam- reer Program, an effort to create a commu- pus Scout.But pitching recruiting services in nity of talent. She taps into networks exten- a recession was like selling ice cream in win- sively and hires contract workers to help

ter. “Nobody needs another recruit when no with the legwork. Revenues are into six fig- buck ennis one is hiring,” Ms. Gray said. Low over- ures and growing, she said. Three strikes or head—phone, computer, Skype account, not, Ms. Gray is still out there swinging. Embrace Power the risk Scott Kurttila, 50 up Co-founder, Lunchola Robert SCOTT KURTTILA HAS ALWAYS BEEN A RISK-TAKER. “I enjoy going into the Bright, 69 unknown and figuring things out,” he said. “You stretch and grow.” One example: Upon leaving a management position at Amazon more Co-founder, than a decade ago,the former competitive figure skater ran across a bucket the Megawatt Hour list he’d written 17 years earlier. One of the to-dos was a cross-country bike trip. Without even knowing how to change a tire, Mr. Kurttila ROBERT BRIGHT SPENT MUCH OF THE PAST TWO DECADES working for big energy embarked on a 57-day coast-to-coast solo know his vendors and customers. The companies, including Constellation NewEnergy, a large retailer. But it was a tour—in the dead of winter. rest of the day is spent working with of- stint with a startup, Juice Energy, that convinced him he was meant for the Afterward, Mr. Kurttila moved to fice managers and HR people to sell entrepreneurial game. New York, taking marketing and Lunchola to their employees. Those business-development jobs at SiriusXM who sign on get a text message every He didn’t think twice in 2013 before deciding with longtime colleague and app developer Sirqul, with side trips morning at 10 offering the day’s specials Deirdre Lord to found the Megawatt Hour,an online subscription service for to a nonprofit and a Web- and app- from eateries such as Ruby’s Cafe, Taïm development firm. Stuck at a desk all day, and Tacombi at Fonda Nolita. Ordering market and pricing data that helps business- business grew eightfold between 2013 and he experienced that particular ennui of the is a click away. es, schools and hospitals manage and fore- 2014. cubicle-bound workforce: lunch slump. Starting a company as he hit 50, Mr. cast energy usage and cost. The product is At 69, Mr. Bright knows he is at the up- So when his former Amazon colleague Kurttila heard the usual caveats. “There unique, bringing transparency to an opaque per end of the generation of older entrepre- Tom Schonhoff, 56, pitched a curated was feedback early on that if you don’t market,but Mr.Bright and Ms.Lord are set- neurs. “Some eyebrows have been raised at lunch-delivery service, Mr. Kurttila bit. have a 27-year-old as CEO you’ll never ting their bar higher: They want to become fundraising events where I’m by far the old- Lunchola launched in December, funded raise money,” he said. And, in fact, he has a national energy-information business. est guy in the room—on either side of the by family and friends. brought on a 27-year-old to help with What attracted Mr. Bright to startups table,” he said. “I don’t worry about it.” And Today, Mr. Kurttila takes a different business development. As he prepares to was their flexibility and flattened hierarchy. he counsels others not to let age—or the cor- bike trip, picking up lunches from as roll out Lunchola in midtown, he admits “I’m personally averse to big, dumb corpo- porate ladder’s allure—stand in the way of many as 14 restaurants in SoHo and No- to learning from the younger types along rate structures,” he said. “Here, we’re all in beginning anew.“If you get to be 69 and have lita, and delivering them to downtown the way. “Of course,” he said, “there’s a it together.”So far,Mr.Bright and Ms.Lord been reasonably prudent about saving mon- office dwellers.“Delivery guy”isn’t in his bunch of stuff I know that they still have have bankrolled the five-person firm them- ey, why not start a business?” he said.“What job description, but it helps him get to to figure out. ” selves, but that might soon change, as the are you waiting for?”

March 9, 2015 | Crain’s New York Business | 13 20150309-NEWS--0014-NAT-CCI-CN_-- 3/5/2015 7:10 PM Page 1

SMALL BUSINESS INSIDE Startup Guide Incubators, accelerators and other hotspots PAGE 16 Real estate tech A healthy commercial property market inspires city’s new tech REPORT firms to shake up the industry PAGE 18

HEATHER HOLMES, a co-founder of a startup focusing on genetic health risks, relocated from Chicago to work with an accelerator in New York. buck ennis In search of the next Airbnb Competition ignites as VCs woo the best startups in the city $23K AVERAGE STIPEND provided by BY ANNE FIELD accelerator program. He regularly through the accelerator’s network accelerators in exchange for attends meetups for young firms and have made it through Tech- equity Winning a place at one of New York City’s elite startup and monitors the media for men- stars’ rigorous application process, accelerators is like getting accepted to Harvard or Yale—and tions of startups, sometimes using according to Mr. Iskold.“We get a an algorithm the accelerator has whole bunch of companies that many entrepreneurs go all-out to secure what can be a powerful developed to search for intriguing way,” he said. calling card.But,with startup hubs multiplying,even the most candidates. He also travels global- Welcome to the increasingly 6% ly to find prospects and recently competitive world of accelerators. AVERAGE EQUITY STAKE by prestigious facilities now must work overtime to lure prized business accelerators in applicants. met with 70 startups in France. Currently, New York City is home startups in exchange for stipend About 40% to 50% of each class to 55 of these facilities and incuba- Recruiting has become a way of life for Alex Iskold,managing Sources: 2014 study at University of Virginia, of 12 or so companies typically tors that trade cash for equity ac- Massachusetts Institute of Technology and National director of Techstars NYC,which is part of a prestigious national consists of recruits who were found See ACCELERATORS on Page 16 Bureau of Economic Research

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REPORT SMALL BUSINESS Accelerators rev talent race About this guide Crain’s found 90 New York City incubators, Continued from Page 14 ACCELERATOR Internet-of-things technology and cording to PrivCo, a financial- hardware products. accelerators, workspaces and related data provider in Manhattan. Five ACCELERATION Despite accelerators’efforts,not organizations across the five boroughs. years ago, only a handful existed. everyone is sold on their value. Certainly, there’s no shortage of The exact number of When introducing a recent report Whether you’re developing a business plan hungry firms seeking to sell equity accelerators is the subject of it issued on accelerators’ perform- or looking to scale up your startup, Crain’s to big-name accelerators in ex- some debate, because not all ance, the U.S. Small Business Ad- will help you find what you need. change for cash, workspace and the the facilities are run the same ministration said on its website marquee-name mentors and in- way. However, the number that major success stories at the vestors the best spaces provide. But in the U.S. and Canada has hubs “are often the exception and ARTS & CULTURE AUDUBON BUSINESS AND TECHNOLOGY CENTER many fledgling companies don’t of- undeniably skyrocketed since not the rule.” (Manhattan) fer the potential for high returns the BIKKURIM (Manhattan) Type: Incubator Y Combinator opened the first Type: Potential occupancy investors behind the accelerators No equity stake Incubator : 13 companies one in 2005. Potential occupancy: Occupancy rate: N/A want. That leaves the facilities on a Some entrepreneurs prefer to Three startups Contact: Waveney Golbourne, high-stakes hunt for quarry like find community in co-working Occupancy rate: N/A (212) 851-5405 Number Dropbox and Airbnb, which gradu- 1,195 spaces, like AlleyNYC and We- Contact: (212) 284-6896 Email: [email protected] ated from Silicon Valley accelerator Work, that don’t take equity.Others Email: [email protected] Website: auduboncenter.org Y Combinator, the 10-year-old find that incubators offer better Website: bikkurim.org granddaddy of the sector. deals.These enterprises, some non- DOWNSTATE BIOTECHNOLOGY “They have to find the right fit profit, some for-profit, usually pro- BROOKLYN WRITERS SPACE (Brooklyn) INCUBATOR (Brooklyn) for their accelerator so their invest- vide many of the same features as ac- Type: Workspace Type: Incubator 1 Potential occupancy: 29 desks Potential occupancy: N/A ment ends up paying off,” said Jessi- celerators. However, they tend to Occupancy rate: Occupancy rate: 2005 2015 N/A 100% ca Lawrence, executive director of target earlier-stage startups, offer Contacts: Scott Adkins, Erin Courtney, Contact: (718) 270-1011 the 42,000-member NY Tech Source: F6S, an online startup community much longer stays than the typical (718) 788-2697 Email: [email protected] Meetup, which leaders of many lo- based in London three to four months at an accelera- Email: [email protected]; Website: research.downstate.edu/ cal accelerators attend. tor—and sometimes don’t take an [email protected] Incubator.htm A lot of money is at stake. New made by the accelerator. equity stake. Website: brooklynwriters.com York’s accelerators have already To stand out, an increasing For entrepreneurs like Evan HARLEM BIOSPACE (Manhattan) started to attract a healthy amount number of accelerators target spe- Wray, co-founder of ad startup CHASHAMA (Manhattan) Type: Incubator of financing. Startups in Techstars cific niches. That’s an especially Swyft Media,that was an important Type: Workspace Potential occupancy: N/A NYC,the largest accelerator in New distinction. In 2013, Mr.Wray,who Potential occupancy: 130 artists Occupancy rate: N/A important draw for startups in Occupancy rate: Contact: York, for instance, have received launched the startup in 2012 when 98% (267) 702-3051 hard-to-crack industries like fi- Contact: (212) 391-8151 Email: [email protected] more than $250 million in venture nancial services and health care. he was still an undergraduate at the Email: [email protected] Website: harlembiospace.com funding since it was founded in Haytham Elhawary intended to University of Notre Dame, chose Website: chashama.org 2011,according to PrivCo.Ten per- apply to a great many accelerators among several incubators and accel- THE NEW YORK SCIENCE AND cent have been acquired, and 80% for his four-employee firm, Kinetic, erators. He ended up opting for the CON ARTIST COLLECTIVE (Manhattan) TECHNOLOGY CENTER AT BIOBAT are still operating. which has a system for helping com- Varick Street Incubator, which is Type: Workspace (Brooklyn) To keep pulling in such high- panies monitor stress on employees’ run by the Polytechnic Institute of Potential occupancy: N/A Type: Accelerator flying startups,prestigious accelera- backs and prevent injuries. But in New York University with help Occupancy rate: N/A Potential occupancy: N/A tors have become very energetic. October, when he and his co- from the New York City Economic Contact: (646) 504-2323 Occupancy rate: N/A Email: Contact: “It’s like college: There are the peo- founder were accepted into the Development Corp. [email protected] (718) 270-1011 Website: conartistnyc.com Email: [email protected] ple who apply,and there are the ones R/GA Accelerator, powered by “We had a longer period of time Website: research.downstate.edu/ the schools really want who get re- Techstars,he decided to take the of- to build the company, and we didn’t NO-SPACE (Brooklyn) biotech/biobat.htm cruited,” said Carol Barash, founder fer. The accelerator focuses on have to give up equity,” he said. Mr. Type: Workspace of Story2, a five-employee educa- Wray remained at Varick Street Potential occupancy: 10 desks tional technology company with from June 2013 to February of this Occupancy rate: N/A CLEAN TECH $300,000 in revenue. year, when Monotype Imaging Contact: (917) 426-5562 Story2 is enrolled in a new three- Holdings, a Nasdaq-traded firm, Email: [email protected] CUNY SUSTAINABLE WORKS month program at the Kaplan NOTABLE EXITS bought the company for $12 mil- Website: notanalternative.com/coworking (Manhattan) EdTech Accelerator, powered by New York City’s accelerators lion, with $15 million in potential Type: Other PARAGRAPH: WORKSPACE FOR Potential occupancy: Techstars. Ms. Barash wasn’t re- have seen the high-profile earn-outs if the company hits cer- N/A WRITERS (Manhattan) Occupancy rate: N/A cruited, but was accepted after ap- acquisitions of several alumni in tain benchmarks. Type: Workspace Email: sustainable@ plying, she said. recent years. Potential occupancy: 60 desks mail.cuny.edu In the current environment, Bending the rules Occupancy rate: N/A Website: newer accelerators will sometimes Ultimately, a startup’s decision Contact: (646) 216-8407 cuny.edu/about/ take aggressive steps to woo candi- DREAMIT VENTURES to choose one accelerator over an- Email: [email protected] resources/sustainability/ dates. Two years ago, Leigh Dro- Stylr, a startup offering a other involves a variety of factors. Website: paragraphny.com about-us/ gan set out to find the right accel- mobile-shopping app, was But the accelerator that showa it is worksNYC.html erator to grow Estimize, his acquired by Walmart Labs in willing to be accommodating to ROOM 58 (Manhattan) Type: NYC ACRE then-two-year-old Manhattan 2014 for an undisclosed price. high-potential firms has an edge. Workspace (Brooklyn) Potential occupancy: N/A Type: Incubator startup, which has a platform for Heather Holmes and Emily ENTREPRENEURS Occupancy rate: N/A Potential occupancy: 20 spots crowdsourcing earnings and eco- Chang are co-founders of Tap- Contact: (718) 788-2697 Occupancy rate: 75% nomic estimates. He went with ROUNDTABLE Genes, a pre-revenue startup with Email: [email protected] Contact: (718) 260-3083 Manhattan-based ValueStream ACCELERATOR a platform that helps families un- Website: room58.org Email: [email protected] Labs, a new fintech accelerator Get Maid, an Uber-style cleaning derstand their genetic health risks. Website: acre.nyc that was launching at the time. Its THE WRITERS ROOM (Manhattan) firm, was acquired by They were accepted into several program lasts about six months. Type: Workspace competitor Homejoy last year for accelerators recently, but Ms. Holmes decided to relocate tem- Potential occupancy: 200+ writers ED TECH ‘Hard sell’ an undisclosed amount. Occupancy rate: N/A porarily to New York from her Contact: KAPLAN EDTECH ACCELERATOR, The managing partners offered home base in Chicago to join (212) 254-6995 NYC SEED Email: [email protected] POWERED BY TECHSTARS to take an unusually small stake in BluePrint Health, which focuses Divide, maker of a mobile Website: writersroom.org (Manhattan) the startup because it was their on the health care industry. Type: Accelerator first. “They gave us the hard sell productivity app, was acquired Ms. Holmes and Ms. Chang Potential occupancy: that they wanted to make their by Google in 2014 for a reported opted for BluePrint Health partly BIOTECH N/A name based on seeing us succeed on $120 million. because its partners flew to San Occupancy rate: a large scale,” said Mr. Drogan, Francisco to meet with them. Ms. ALEXANDRIA CENTER FOR LIFE N/A whose 12-employee company is TECHSTARS Chang, who lives in Mountain SCIENCE (Manhattan) Contact: 212-974-6228 based in Manhattan. Poptip, a firm that analyzes data View, Calif., is pregnant and unable Type: Workspace Email: Potential occupancy: Since then, Mr. Drogan has from Twitter, was acquired by to fly. The partners also agreed to 1.1 [email protected] data-mining firm Palantir million-square-foot Website: kaplanedtechaccelerator.com raised about $2.6 million in two bend the rules and let Ms. Chang campus rounds of funding, largely thanks to Technologies in 2014 for an work remotely. Occupancy rate: N/A SOCRATIC LABS (Manhattan) ValueStream’s investor network.He undisclosed price. “They understood that some- Contact: (646) 223-3882 Type: Accelerator also won his first big bank customer Source: PrivCo contributed to this research. times life gets in the way,” said Ms. Email: [email protected] Potential occupancy: N/A directly through introductions Holmes. Ⅲ Website: alexandrianyc.com Occupancy rate: N/A

16 | Crain’s New York Business | March 10, 2014 20150309-NEWS--0017-NAT-CCI-CN_-- 3/6/2015 11:14 AM Page 1

Email: [email protected] Occupancy rate: N/A Website: bxl.nyc Occupancy rate: 58 desks Potential occupancy: 30 desks Website: socraticlabs.com Contact: (917) 498-3472 Contact: (646) 723-1270 Occupancy rate: N/A Email: [email protected] COALITION (Manhattan) Email: [email protected] Contact: (347) 762-9110 Website: whedco.org/kitchen Type: Workspace Website: harlemgarage.com Email: [email protected] FASHION & DESIGN Potential occupancy: 57 private offices; Website: sotechiespaces.com 107 shared desks IN GOOD COMPANY (Manhattan) BROOKLYN FASHION + DESIGN HEALTH CARE Occupancy rate: 50 private offices; 29 Type: Workspace STUDIO GUILD (Manhattan) ACCELERATOR (Brooklyn) shared desks Potential occupancy: N/A Type: Workspace Type: Accelerator BLUEPRINT HEALTH Contact: (212) 624-9200 Occupancy rate: N/A Potential occupancy: 10 offices; 36 desks Potential occupancy: N/A (Manhattan) Email: [email protected] Contact: (646) 810-9195 Occupancy rate: N/A Occupancy rate: N/A Type: Accelerator Website: coalitionspace.microoffice.com Email: [email protected] Website: studioguild.org Contact: (718) 687-5700 Potential occupancy: Website: ingoodcompany.com Email: [email protected] 45 startups COLLAB (Manhattan) SUNSHINE SUITES (Manhattan) Website: bkaccelerator.com Occupancy rate: N/A Type: Workspace INSITE (Manhattan) Type: Workspace Contact: (646) 627-7627 Potential occupancy: 5,500 square feet Type: Other Potential occupancy: N/A CFDA FASHION Email: info@ Occupancy rate: N/A Potential occupancy: N/A Occupancy rate: 75% INCUBATOR blueprinthealth.org Contact: (212) 727-3190 Occupancy rate: N/A Contact: (212) 624-5856 (Manhattan) Website: blueprinthealth.org Email: [email protected] Email: [email protected] Email: [email protected] Type: Incubator Website: collab-orators.com Website: insitefellows.org Website: sunshineny.com Potential occupancy: NY DIGITAL HEALTH ACCELERATOR N/A (Manhattan) COLUMBIA STARTUP LAB (Manhattan) LOWER MANHATTAN HQ (Manhattan) TECH SPACE (Manhattan) Occupancy rate: N/A Type: Accelerator Type: Workspace Type: Workspace Type: Workspace Contact: (212) 768-5712 Potential occupancy: N/A Potential occupancy: 71 spaces Potential occupancy: N/A Website: techspace.com Email: [email protected] Occupancy rate: N/A Occupancy rate: 100% Occupancy rate: N/A Website: cfda.com/programs/cfda-fashion- Email: [email protected] Contact: (212) 854-3244 Contact: (212) 835-2744 Chelsea incubator Website: digitalhealthaccelerator.com Email: [email protected] Email: [email protected] Potential occupancy: 207 workspaces; Website: entrepreneurship.columbia.edu/ Website: LaunchLM.com/LMHQ 62 offices NYDESIGNS (Manhattan) STARTUP HEALTH (Manhattan) startup-lab Contact: (212) 905-7712 Type: Incubator Type: Incubator MADE IN NY MEDIA CENTER BY IFP Potential occupancy: 20+ companies Potential occupancy: N/A ENSEMBLE NYC (Manhattan) (Brooklyn) Flatiron Occupancy rate: N/A Occupancy rate: N/A Type: Workspace Type: Incubator, workspace Potential occupancy: 172 workspaces; Contact: (718) 663-8404 Email: [email protected] Potential occupancy: 220 spaces Potential occupancy: 150 spaces 22 offices Email: [email protected] Website: startuphealth.com Occupancy rate: 95% Occupancy rate: N/A Contact: (212) 905-7725 Website: nydesigns.org Contact: 212-757-3210 Contact: (718) 729-6677 WELLTECH FUNDING (Manhattan) Email: [email protected] Email: [email protected] Union Square STATEN ISLAND MAKERSPACE Type: Accelerator Website: LetsEnsemble.com Website: nymediacenter.com Potential occupancy: 585 workspaces; (Manhattan) Potential occupancy: Five companies 104 offices Type: Incubator, workspace Occupancy rate: N/A ENTREPRENEURIAL ASSISTANCE MICROOFFICE (Manhattan) Contact: (212) 331-1175 Potential occupancy: 200 members Email: [email protected] PROGRAM (All boroughs) Type: Workspace Occupancy rate: 75% Website: welltechfunding.com Type: Other Potential occupancy: 384 desks WECREATE NYC (Manhattan) Contact: (718) 273-3951 Potential occupancy: N/A Occupancy rate: 232 desks Type: Workspace Email: [email protected] Occupancy rate: N/A Contact: (646) 201-5508 Potential occupancy: N/A Website: makerspace.nyc MULTIDISCIPLINARY Contact: (212) 803-3234 Email: [email protected] Occupancy rate: N/A Website: esd.ny.gov/BusinessPrograms/ Website: microoffice.com Contact: (212) 837-1666 EAP.html Email: [email protected] FOOD NEW INC (Manhattan) Website: wecreatenyc.com FORDHAM FOUNDRY (Bronx) Type: Incubator ACCELFOODS (Manhattan) Type: Incubator Potential occupancy: 100 WEWORK (Manhattan) Type: Accelerator Potential occupancy: Six companies Occupancy rate: N/A Type: Workspace Potential occupancy: N/A Occupancy rate: N/A Contact: (212) 219-1222 Potential occupancy: N/A Occupancy rate: N/A Contact: (718) 960-4221 Email: [email protected] Occupancy rate: N/A Email: [email protected] 42 WEST 24 (Manhattan) Email: [email protected] Website: newinc.org Contact: (877) 978-2068 Website: Type: Workspace Website: fordhamfoundry.org Website: wework.com accelfoods.com Potential occupancy: 28 desks NEW WORK CITY (Manhattan) Occupancy rate: N/A FOUNDERS WORKBENCH POWERED BY Type: Workspace WICKED START (Manhattan) THE Contact: (212) 691-0609 GOODWIN PROCTER (Manhattan) Potential occupancy: N/A Type: Other ENTREPRENEUR’S Email: [email protected] Type: Other Occupancy rate: N/A Potential occupancy: N/A SPACE (Queens) Website: 42west24.com Potential occupancy: N/A Contact: (212) 226-1585 Occupancy rate: N/A Type: Incubator Occupancy rate: N/A Email: [email protected] Contact: (347) 482-0917 Potential occupancy: 5,500-square-foot ALLEY NYC (Manhattan) Contact: (212) 813-8800 Website: nwc.co Email: [email protected] kitchen Type: Workspace, incubator Email:Workbench_Inquiry Website: wickedstartconsulting.com Occupancy rate: N/A Potential occupancy: N/A @goodwinprocter.com OFFICELINKS (Manhattan) Contact: (718) 392-0025 Occupancy rate: 100% Website: foundersworkbench.com Type: Workspace WIX LOUNGE (Manhattan) Email: [email protected] Contact: (212) 960-8543 Email: [email protected] Type: Workspace Website: queensny.org/qedc/ Email: [email protected] GENERAL ASSEMBLY (Manhattan) Website: officelinks.com Potential occupancy: 6,000 square feet EntrepreneurSpace Website: alleynyc.com Type: Other Occupancy rate: N/A Potential occupancy: N/A Bryant Park Contact: (646) 862-0833 HOT BREAD KITCHEN (Manhattan) BAT HAUS (Brooklyn) Occupancy rate: N/A Contact: (646) 666-9182 Email: [email protected] Type: Incubator Type: Workspace Email: [email protected] Website: wix.com/lounge/new-york Potential occupancy: N/A Potential occupancy: N/A Website: generalassemb.ly Chelsea Occupancy rate: N/A Occupancy rate: 70% Contact: (646) 666-9187 THE YARD: SPACE TO WORK (Brooklyn) Contact: (212) 369-3331 Contact: (917) 865-8660 GREEN DESK (Manhattan) Type: Workspace Email: [email protected] Email: [email protected] Type: Workspace Grand Central West Potential occupancy: 250-400 spaces at Website: hotbreadkitchen.org Website: bathaus.com Potential occupancy: Varies by location Contact: (646) 666-9181 each of four locations Occupancy rate: Varies by location Occupancy rate: N/A MI KITCHEN ES SU KITCHEN BRONX BUSINESS BRIDGE (Bronx) Contact: (718) 210-3650 Park Avenue South Contact: (718) 782-7900 (Manhattan) Type: Incubator Email: [email protected] Contact: (646) 666-9187 Email: [email protected] Type: Incubator Potential occupancy: N/A Website: green-desk.com Website: theyard.nyc Potential occupancy: 300 clients Occupancy rate: N/A Wall Street Occupancy rate: N/A Contact: (718) 960-4684 GREEN WORKER COOPERATIVES Contact: (646) 666-9190 Contact: (212) 452-1866 Email: [email protected] (Manhattan) TECHNOLOGY & MEDIA Email: [email protected] Website: lehman.edu/bbb Type: Incubator PIVOTDESK (All boroughs) Website: mikitchenessukitchen.com Potential occupancy: N/A Type: Other BLACK OCEAN (Manhattan) BROOKLYN CREATIVE LEAGUE (Brooklyn) Occupancy rate: N/A Potential occupancy: Based on availability Type: Other ORGANIC FOOD INCUBATOR Type: Workspace, incubator Email: [email protected] Occupancy rate: N/A Potential occupancy: N/A (Manhattan) Potential occupancy: 200 spaces Website: greenworker.coop Contact: (844) 788-3375 Occupancy rate: N/A Type: Incubator Occupancy rate: 95% Email: [email protected] Contact: (646) 588-5300 Potential occupancy: N/A Contact: (718) 576-2104 GRIND (Manhattan) Website: pivotdesk.com Email: [email protected] Occupancy rate: N/A Email: [email protected] Type: Workspace Website: blackocean.com Contact: (718) 391-0009 Website: brooklyncreativeleague.com Potential occupancy: N/A PROJECTIVE SPACE (Manhattan) Email: [email protected] Occupancy rate: N/A Type: Workspace BMW I VENTURES (Manhattan) Website: organicfoodincubator.com BXL BUSINESS INCUBATOR (Bronx) Contact: (646) 558-6026 Potential occupancy: 120 spaces Type: Incubator, workspace Type: Incubator Email: [email protected] Occupancy rate: N/A Potential occupancy: 28 workspaces WOMEN’S HOUSING AND ECONOMIC Potential occupancy: 100 people Website: grindspaces.com Email: [email protected] Occupancy rate: N/A

DEVELOPMENT CORP. KITCHEN Occupancy rate: N/A Website: projective.co Email: tara.gebbia@ bmwnaext.com istockphotos INCUBATOR (Bronx) Contact: Jerelyn Rodriguez, HARLEM GARAGE (Manhattan) Website: nycedc.com/program/ Type: Incubator (917) 731-8948 Type: Incubator SOTECHIE SPACES (Manhattan) bmw-i-ventures Potential occupancy: N/A Email: [email protected] Potential occupancy: 72 desks Type: Workspace See STARTUP on Page 18

March 9, 2015 | Crain’s New York Business | 17 20150309-NEWS--0018-NAT-CCI-CN_-- 3/5/2015 7:15 PM Page 1

REPORT SMALL BUSINESS

FUELED (Manhattan) NYC SEED (Brooklyn) Occupancy rate: N/A Type: Workspace Type: Other Contact: (212) 228-8770 Startup resources Potential occupancy: 150 spaces Potential occupancy: N/A Email: [email protected] Occupancy rate: 99% Occupancy rate: N/A Website: rose.vc Contact: (800) 962-4587 Contact: (917) 721-5572 Email: [email protected] Email: [email protected] TALENT TECH LABS Continued from Page 17 ENTREPRENEURS ROUNDTABLE Website: fueled.com/collective Website: nycseed.com (Manhattan) CONSIGLIERE (Manhattan) ACCELERATOR (Manhattan) Type: Incubator Type: Accelerator Type: Accelerator THE HATCHERY (Manhattan) NYC SEEDSTART (Manhattan) Potential occupancy: 12 companies Potential occupancy: N/A Potential occupancy: N/A Type: Incubator Type: Accelerator Occupancy rate: 80% Occupancy rate: N/A Occupancy rate: N/A Potential occupancy: N/A Potential occupancy: N/A Contact: (646) 300-7060 Email: [email protected] Email: [email protected] Occupancy rate: N/A Occupancy rate: N/A Email: [email protected] Website: theconsig.com Website: eranyc.com Contact: (646) 727-0058 Contact: (707) 469-3669 Website: talenttechlabs.com Email: [email protected] Email: [email protected] CORIOLIS VENTURES FINTECH INNOVATION LAB Website: hatchery.vc Website: nycseedstart.com TECHSTARS NYC (Manhattan) (Manhattan) (Manhattan) Type: Incubator Type: Accelerator INNOVATE NY FUND (All boroughs) NYU DUMBO BROOKLYN INCUBATOR Type: Accelerator Potential occupancy: N/A Potential occupancy: 6 companies Type: Other (Brooklyn) Potential occupancy: N/A Occupancy rate: N/A Occupancy rate: N/A Potential occupancy: N/A Type: Incubator Occupancy rate: 100% Email: [email protected] Email: [email protected] Occupancy rate: N/A Potential occupancy: N/A Email: [email protected] Website: coriolisventures.com Website: fintechinnovationlab.com Email: [email protected] Occupancy rate: N/A Website: techstars.com Website: esd.ny.gov/innovateny.html Contact: (718) 407-6561 DREAMIT VENTURES (Manhattan) FIRSTGROWTHVC Email: [email protected] VARICK STREET INCUBATOR Type: Accelerator (Manhattan) ITAC (Manhattan) Website: engineering.nyu.edu/business/ (Manhattan) Potential occupancy: N/A Type: Accelerator Type: Other incubators/dumbo Type: Incubator Occupancy rate: N/A Potential occupancy: N/A Potential occupancy: N/A Potential occupancy: 64 desks; Email: [email protected] Occupancy rate: N/A Occupancy rate: N/A PREHYPE (Manhattan) 20 companies Website: dreamitventures.com Email: [email protected] Contact: (212) 809-3900 Type: Incubator Occupancy rate: 100% Website: firstgrowthvn.com Website: itac.org Potential occupancy: N/A Contact: Steven Kuyan, DUMBO STARTUP LAB Occupancy rate: N/A (212) 292-3122 (Brooklyn) FOUNDER LABS NEST (Manhattan) Email: [email protected] Email: [email protected] Type: Workspace (Manhattan) Type: Accelerator Website: prehype.com Website: engineering.nyu.edu/ Potential occupancy: 50 spaces Type: Incubator Potential occupancy: N/A business/incubators/varick Occupancy rate: 94% Potential occupancy: 15-20 per class Occupancy rate: N/A ROSE TECH VENTURES Contact: (347) 699-4450 Occupancy rate: N/A Contact: (212) 810-0401 (Manhattan) Sources: Organizations and their websites. Email: [email protected] Email: [email protected] Email: [email protected] Type: Other Additional research by Nicholas Wells, Website: dumbostartuplab.com Website: founderlabs.org Website: nestnewyork.com Potential occupancy: N/A Suzanne Panara and Yoona Ha

A NEW DIMENSION: Demand is soaring for the Tech firms fight interactive 3-D models of David Eisenberg’s Floored, part of a wave of real estate for slice of real tech startups. estate action Newest products target commercial players hungry for new ways to work smarter Those working in the field today, BY EILENE ZIMMERMAN especially professionals in their 30s and 40s, increasingly expect to use Commercial real estate hasn’t al- technology tools to make their work ways been an industry quick to em- more efficient, Mr. Schlafman said. brace new technology. But David “You have a lot of people now who Eisenberg, CEO and co-founder of can see what processes are broken Manhattan-based startup Floored, and where software can really help has found that has changed. the experience for brokers, owners Demand has sizzled for his firm’s and buyers,” he said. product, which turns Mr. Schlafman ex- the two-dimensional pects 2015 and 2016 to floor plans and archi- $605M be “breakout years” for buck ennis tectural drawings used AMOUNT of venture real estate tech compa- costs. “We enable them to actually Last year, the combined value of as the minutes of community board in commercial real es- capital invested in real nies, especially those on walk through their developments, all the projects managed on the site meetings, court documents or tate into interactive estate tech in 2014 the commercial side. In virtually, years before they’re built,” was $520 million, up from $50 mil- records that are available only in 3-D models. Floored Source: TechCrunch the last quarter of 2014, Mr. Eisenberg said. lion in 2013.Almost all were in New hard copy. Its technology sorts and has grown to 40 em- venture funding of real Other B2B players are finding York City, which Mr. Kubiak said is organizes data from about 2,000 ployees and revenue in the “single- estate tech firms reached nearly fast growth by marketing to niche “an enormous market. There are different sources. digit millions” since it was founded $300 million,according to an analy- audiences with specialized prod- more buildings here than in any oth- Now in the pre-revenue phase, in April 2013, he said. sis by TechCrunch. ucts. Honest Buildings, for in- er area in the country.” Revaluate has begun raising money “There is a lot of interest now in Many of those companies are in stance, has targeted developers, as- from angel investors. Unique visi- replacing old processes with new New York City. One site aimed at set managers and property Mounting competition tors to the site are growing 12% ones,” said Mr. Eisenberg. commercial clients, Compass (for- managers by providing a central As activity percolates in the com- week to week, said Max Galka, one Floored, backed by $6.3 million merly Urban Compass), has raised platform for managing the design mercial space, new consumer tech- of the co-founders. The company in venture capital, is part of a wave $73 million and is now valued at and construction process and offer- nology is cropping up, too. Revalu- has information for all the residen- of real estate startups, especially in $360 million, said co-founder ing a place to collect information ate, in Manhattan, is one of the tial buildings in Manhattan and is the B2B space, that are picking up Robert Reffkin.Its platform lets real about industry vendors. newest startups to enter the ecosys- now tackling Brooklyn. speed quickly in a healthy market. estate agents advertise properties Developers can post projects for tem. It launched in beta in Septem- Mr. Galka is aware that compe- “Historically, the companies that and connect with clients. free, accept applications from qual- ber. Its technology allows con- tition is mounting. He counts about have gotten attention are on the ified vendors and solicit bids and sumers to see the history of a 100 real estate tech startups found- consumer side, like Zillow and ‘Enormous market’ manage them in one place, via a property before they make a com- ed in New York City in the past four Trulia,” said Steve Schlafman, One thing that has helped “preconstruction dashboard.” “It’s mitment to buy or rent—whether years and least 15 notable players. principal at RRE Ventures, an Floored catch on is its potential to the place for everything that hap- that includes a noise problem, a pest “Innovation in real estate has essen- early-stage venture-capital firm bring savings to its clients on their pens before you sign a vendor to a infestation or a difficult landlord. tially been on pause for most of the that has invested in Floored. “The marketing. The company aims to project, including multiple rounds The site compiles information last decade,” he said. “Now that the commercial side was largely ig- eliminate developers’need to build a of contracts,” said CEO and co- from publicly available sources, in- market is recovering,the opportuni- nored by VCs.” showroom, with all of the attendant founder Riggs Kubiak. cluding harder-to-access ones, such ty is enormous.” Ⅲ

18 | Crain’s New York Business | March 9, 2015 Don’t buy this phone. The math is so simple.

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*Savings based on well qualified customer with new-line activation or eligible upgrade. Comparison based on publicly-available information as of 02/13/15 between Sprint Lease 24 mo. contract to 2-year contract and device pricing on Verizon More Everything Plan for 10 lines using Samsung Galaxy S5. Upfront device cost: ($0/ Sprint vs. $1,999.90/Verizon. Monthly phone cost: $200/ Sprint vs. $0/Verizon excluding taxes and Sprint surcharges. Limited time off er $5 / mo. service credit x 10 lines: ($50) month Sprint vs. N/A Verizon for new-line or activation or eligible upgrade up to 24 months of lease term, provided the device remains active. 20 GB Shared Data: $90/Sprint vs. $140/Verizon. Monthly access with Unlimited talk + Text While on network: $150/Sprint vs $400/Verizon. Monthly Total 10 lines:$390/Sprint vs $540/Verizon. 24 Month total 10 lines: $9,360/Sprint vs $14,959.90/Verizon resulting in $5,599.90 savings over 24 months. Comparison does not include optional device purchase at the end Other monthly charges apply. See below. Monthly lease payments exclude taxes (varies by area). Monthly services charges exclude taxes and Sprint Surcharges [incl. USF charge of up to 16.8% (varies quarterly), up to $2.50 Admin. & 40¢ Reg. /line/mo. & fees by area (approx. 5 -20%)]. Surcharges are not taxes. See sprint.com/taxesandfees. Plan: Activ. Fee: $36/line. Credit approval req. Plan Details: Plans only available to Corporate-Liable business subscribers. CL discounts may apply only to monthly shared data charges. Includes unlimited domestic Long Distance calling and texting while on the Sprint Network. Data allowance as specified. Third-party content/downloads are add’l charge. Int’l svcs are not included. Data: Includes shared data across all subs. Depending on plans selected, includes 20GB of on-network data usage and 100MB off -network data usage. Add’l on-network data usage: 1.5¢/MB. Additional off -network data can be added by opt in only for 25¢/MB for tablets/MBBs. If conflicting share data allowances are applied to an account, the majority on account or most recent change may be applied for all lines. Mobile Hotspot usage pulls from your shared data and off -network allowances. Add-ons: Good for Enterprise™ or BlackBerry Enterprise Service 10 can be added to select data plans for an additional $15/mo. per line. Other BlackBerry smartphones can add BlackBerry Enterprise Server for $20/mo. per line. Messaging: Includes sending/receiving domestic texts (SMS) and pics/videos thru texts (MMS).Discounts: Discount of up to $20/mo./line will be applied within 3 invoices for customers that have chosen Lease. The discount will remain until a new device transaction. Discounts do not apply to basic/ feature phone transactions. Usage Limitations: Other plans may receive prioritized bandwidth availability. To improve data experience for a majority of users, throughput may be limited, varied or reduced on the network. Sprint may terminate service if off network roaming usage in a month exceeds (1) 800 min. or a majority of min.; or (2) 100MB or a majority of KB. Prohibited network use rules apply-see sprint.com/termsandconditions. Lease:Terms for all other customers will vary including amount due at signing and taxes/fees. Req. qualifying device and service plan. No equipment security deposit required. Upon completion of 24 mo. term, customer can continue to pay monthly lease amount, purchase or return the device. Customer is responsible for insurance and repairs. Early termination of lease/service: Remaining lease payments will be due immediately, and requires device return or payment of purchase option device price in lease. $5/Mo. Lease Service Credit: Off er ends 04/09/15. CL only. Req. eligible device on 24 mo. Sprint Lease and new-line activ. or eligible upgrade on Sprint Business Share plan. Receive $5/mo service credit for 24 months with eligible device with Sprint Lease. No cash back. Account must remain in good standing to receive svc credits. Allow up to 3 billing periods for 1st svc credit to appear following activ. Avail. from Sprint Business Rep. only. No discounts apply. May not be combined with other off ers. Other Terms: Off ers and coverage not available everywhere or for all devices/networks. May not be combined with other off ers. Restrictions apply. See sprint.com for details ©2015 Sprint. All rights reserved. Sprint and the logo are trademarks of Sprint. P020-21CL_CN_20150309.qxp 3/6/2015 12:47 PM Page 20

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR EMAIL [email protected] POSITION PUBLIC & LEGAL NOTICES AVAILABLE Notice of Formation PDM Fund IV, LLC Notice of Qual. of NCKID Driggs, LLC, Notice of Qualification of Ameron Pole Notice of Qualification of STRATEGIC Arts. of Org. filed with SSNY 12/9/14. Auth. filed Sec’y of State (SSNY) on Products LLC. Authority filed with NY PARTNERS NC REAL ASSET AVP/Sr. Research Associate Off. Loc.: New York Cnty. SSNY 6/24/14. Office loc: NY County. LLC Dept. of State on 2/20/15. Office OPPORTUNITIES (OVERAGE), AllianceBernstein L.P. – New York, NY designated as agent of LLC whom org. in DE 6/19/14. SSNY desig. as location: NY County. Princ. bus. addr.: L.P. Appl. for Auth. filed with Secy. of Use quant methods to rsrch various process may be served. SSNY shall agent of LLC upon whom proc. against 7909 Parkwood Circle Dr., Houston, State of NY (SSNY) on 02/26/15. invstmnt vehicles, in order to provde mail process to: c/o Wiggin and it may be served. SSNY shall mail copy TX 77036. LLC formed in DE on Office location: NY County. LP formed fundmntl co & finan analysis using Equity Dana LLP, 450 Lexington Ave, Ste of proc. to Siegel & Reiner, Att: Irwin 8/7/08. NY Sec. of State designated in Delaware (DE) on 09/25/14. SSNY Rsrch platfrm. F/T. Reqs MBA (or forgn 3800, New York, NY 10017. Purpose: Siegel, 900 Third Ave., NY, NY 10022. agent of LLC upon whom process designated as agent of LP upon whom equiv) & 2 yrs exp in job offered or in the all lawful activities. DE office addr.: 160 Greentree Dr., Ste. against it may be served and shall process against it may be served. mgmt consult’g/finan srvcs ind. Must hve 101, Dover, DE 19904. Cert. of Form. mail process to: c/o CT Corporation SSNY shall mail process to the DE Bach’s degr (or forgn equiv) in Finan, Comp Notice of Formation of Rees Holdings on file: SSDE, Townsend Bldg., Dover, System, 111 8th Ave., NY, NY 10011, addr. of the LP: c/o Corporation Sci, Math, Engnrg or rel quant fld. All LLC, Art. of Org. filed with Sec’y of DE 19901. Purp: any lawful activities. regd. agent upon whom process may Service Co. (CSC), 2711 Centerville stated exp must incl the follow’g: prfrm’g State (SSNY) on 9/25/14. Office loca- be served. DE addr. of LLC: 1209 Rd., Ste. 400, Wilmington, DE 19808. statistical analyses to determine correla- tion: NY County. SSNY designated as Notice of Qual. of Pura Vida SPV I, Orange St., Wilmington, DE 19801. Name and addr. of each general tion among variables & determine mrkt agent of LLC upon whom process Cert. of Form. filed with DE Sec. of partner are available from SSNY. Cert. trend; communicat’g results of complex LLC, Auth. filed Sec’y of State (SSNY) against it may be served. SSNY shall on 5/12/14. Office loc: NY County. LLC State, 401 Federal St., Dover, DE of LP filed with Secy. of State of the finanl analyses to internl sales teams &/or mail copy of process to Chadbourne 19901. Purpose: all lawful purposes. State of DE, John G. Townsend Bldg., institutional invstors; dvlp’g complex org. in DE 5/9/14. SSNY desig. as agent & Parke, 1301 Ave of the Americas, NY, of LLC upon whom proc. against it may 401 Federal St., Ste. 4, Dover, DE financl mdls & forward-look’g financl NY 10019. Purpose: any lawful activities. 19901. Purpose: Any lawful activity. analysis; dvlp’g financl recommendations be served. SSNY shall mail copy of proc. Notice of Qual. of Purves Street based on quant & qual analysis of mrkt to Att: Efrem Karmen, 888 Seventh Development LLC, Auth. filed Sec’y Notice of Formation of Pasha fundamentls &/or co financls; & apply’g Ave., 6th Fl., NY, NY 10106. DE office of State (SSNY) on 8/19/14. Office loc: Siegel/Ringler Family LLC. Arts. of account’g stndrds to analyze & interpret Funding, LLC. Art. of Org. filed with addr.: CSC, 2711 Centerville Rd., NY County. LLC org. in DE 7/28/14. Org. filed with Secy. of State of NY co filings to assess prfrmance drivers. Secy. of State of NY(SSNY) on Wilmington, DE 19808. Cert. of Form. SSNY desig. as agent of LLC upon whom (SSNY) on 09/13/13. Off. loc.: NY Resumes: J. Alvia, AllianceBernstein L.P., December 8, 2014. Office location: on file: SSDE, Townsend Bldg., Dover, proc. against it may be served. SSNY Co. SSNY des. as agent of LLC upon 1345 Ave of the Americas, New York, NY New York County, SSNY designated DE 19901. Purp: any lawful activities. shall mail copy of proc. to NRAI, 111 whom process may be served. SSNY 10105. JobID NEWHRA. as agent of LLC upon whom process Eighth Ave., NY, NY 10011, the Reg. shall mail process to c/o Robinson against it may be served. SSNY shall Agt. upon whom proc. may be served. Notice of Qualification of EAST Brog, et al., Attn: Steve R. Graber, mail copy of process to: 401 Broadway DE office addr.: 160 Greentree Dr., Ste. MEADOW CAPITAL FUND, LP. Appl. Esq., 875 3rd Ave, 9th Fl., New York, Ste 1712, New York, New York 101, Dover, DE 19904. Cert. of Form. for Auth. filed with Secy. of State of NY NY 10022. Purpose: General. 10013. Purpose: any lawful activity. on file: SSDE, Townsend Bldg., Dover, (SSNY) on 02/19/15. Office location: FINANCIAL DE 19901. Purp: any lawful activities. NY County. LP formed in Delaware (DE) EP Interiors, LLC, a domestic LLC, OPPORTUNITIES IN NOTICE OF FORMATION OF CNY on 02/03/15. Princ. office of LP: 30 W. Construction 701 LLC. Arts of Org filed filed with the SSNY on 9/16/2014. MORTGAGE NOTES 61st St., #19A, NY, NY 10023. SSNY Notice of Qualification of Mavis Office location: New York County. with Secy of State of NY (SSNY 6/17/13). designated as agent of LP upon whom Skarloey LLC. Authority filed with NY Office Location NY County. SSNY SSNY is designated as agent upon • Mortgages For Sale process against it may be served. SSNY Dept. of State on 2/4/15. Office loca- whom process against the LLC may designated agent upon whom process shall mail process to the Partnership tion: NY County. LLC formed in DE • Ranging from $149K - $800K may be served and shall mail process be served. SSNY shall mail process at the princ. office of the LP. The regd. on 11/5/14. NY Sec. of State designated to The LLC, 140 West End Ave 17G against LLC to principal business agent of the company upon whom agent of LLC upon whom process • Low Loan to Value address: 214 West 39th Street, NY, NY, NY 10023. Purpose: Staging and at which process against the against it may be served and shall and interior design. • Accruing Default Interest @ 24% NY 10018. Purpose: Any lawful act. company can be served is Stefan mail process to: 60 Warren St., #6, Brundobler, 30 W. 61st St., #19A, NY, NY, NY 10007, principal business Call: J. Hughis @ 888-377-3872 Notice of Qual. of RCM Dash 3 Holdco NY 10023. Name and addr. of each address. DE address of LLC: 1209 Solid Air Design LLC, Arts of Org LLC, Auth. filed Sec’y of State (SSNY) general partner are available from Orange St., Wilmington, DE 19801. filed with SSNY on 01/28/15. Off. Loc.: on 5/14/14. Office loc: NY County. SSNY. DE addr. of LP: 2711 Cert. of Form. filed with DE Sec. of New York County, SSNY designated LLC org. in DE 5/13/14. SSNY desig. Centerville Rd., Ste. 400, Wilmington, State, 401 Federal St., Dover, DE as agent of LLC upon whom process as agent of LLC upon whom proc. DE 19808. Cert. of LP filed with 19901. Purpose: all lawful purposes. against it may be served. SSNY shall PUBLIC & against it may be served. SSNY shall Secy. of State of the State f DE, 401 mail a copy of process to: The LLC, LEGAL NOTICES mail copy of proc. to 110 Greene St., Federal St., Dover, DE 19901. Notice of Qualification of Hudson + 102 W 14th St, 2F, New York, NY Ste. 1102, NY, NY 10012. DE office Purpose: Any lawful activity. East Management, LLC. Authority 10011. Purpose: to engage in any addr.: CSC, 2711 Centerville Rd., filed with NY Dept. of State on lawful act. Wilmington, DE 19808. Cert. of Form. on NOTICE OF FORMATION OF Bernie Name of LLC: Leslie Model Design 2/18/15. Office location: NY County. file: SSDE, Townsend Bldg., Dover, LLC formed in DE on 2/2/15. NY Notice of Formation of JUJA Young Entertainment Enterprises, DE 19901. Purp: any lawful activities. LLC. Date of filing Articles of SOUTHAMPTON LLC. Arts. of Org. LLC. Articles of Organization filed Organization with the NY Dept of Sec. of State designated agent of LLC upon whom process against it filed with Secy. of State of NY (SSNY) with the Secretary of State of NY State: February 4, 2015. Office of the on 01/22/15. Office location: NY (SSNY) on November 11, 2014. Barracuda II LLC. Arts. of Org. filed LLC: New York County. The NY may be served and shall mail with Secy. of State of NY (SSNY) on process to the principal business County. Princ. office of LLC: 109 Office location: NEW YORK County. Secretary of State has been designated Greene St., Apt. 5B, NY, NY 10012. SSNY has been designated as agent 01/30/15. Off. loc.: NY Co. SSNY des. as the agent upon whom process address: 767 Fifth Ave., 12th Fl., NY, as agent of LLC upon whom process NY 10153, Attn: Joseph Kusnan. DE SSNY designated as agent of LLC upon whom process against it may may be served. NYSS may mail a copy upon whom process against it may be served. The Post Office address may be served. SSNY shall mail process of any process to the LLC at: 945 address of LLC: 1209 Orange St., to c/o Robinson Brog, et al., Attn: Neil Wilmington, DE 19801. DE Sec. of be served. SSNY shall mail process to which the SSNY shall mail a copy Fifth Avenue, Apt. 4A, New York, NY to Jonathan J. Russo, Esq., Pillsbury of any process against the LLC S. Goldstein, 875 3rd Ave, 9th Fl., 10021. Purpose of the LLC: A lawful State, 401 Federal St., Dover, DE New York, NY 10022. Purpose: General. 19901. Purpose: all lawful purposes. Winthrop Shaw Pittman LLP, 1540 served upon him/her is: 45 West purpose permitted for LLCs under Broadway, NY, NY 10036. Purpose: 60th Street, #10D, New York, NY NY Limited Liability Company Act. Any lawful activity. 10023. The principal business Notice of Qualification of Notice of Qualification of Filterfresh address of the LLC is: 45 West 60th 52EEASUN2014, LLC. Authority filed Coffee Service, LLC. Authority filed Street, #10D, New York, NY 10023. with NY Dept. of State: 1/22/15. Notice of Qualification of Acino with NY Dept. of State on 12/9/2014. Notice of Qualification of KGS-ALPHA Purpose: any lawful act or activity. Office location: NY County. LLC Products, LLC. Authority filed with Office location: NY County. Princ. bus. FINANCIAL SERVICES, LLC. Appl. for formed in DE: 11/7/14. NY Sec. of NY Dept. of State on 2/24/15. Office addr.: 1101 Market St., Philadelphia, Auth. filed with Secy. of State of NY State designated agent of LLC upon location: NY County. Princ. bus. addr.: PA 19107. LLC formed in DE on (SSNY) on 11/10/14. Office location: Notice of formation of Trrigr LLC. whom process against it may be 9B S. Gold Dr., Hamilton, NJ 08691. 9/10/1984. NY Sec. of State designated NY County. LLC formed in Delaware Articles of organization filed with the served and shall mail process to: c/o LLC formed in DE on 9/11/98. NY Sec. agent of LLC upon whom process (DE) on 10/17/14. SSNY designated Secretary of State of New York (SSNY) CT Corporation System, 111 8th of State designated agent of LLC against it may be served and shall as agent of LLC upon whom process on September 29, 2014. Office located Ave., NY, NY 10011, regd. agent upon whom process against it may mail process to: c/o CT Corporation against it may be served. SSNY shall at 350 5th Avenue, Suite 731, New upon whom process may be served. be served and shall mail process to: System, 111 8th Ave., NY, NY 10011, mail process to c/o Corporation York, NY 10118. SSNY has been DE addr. of LLC: 1209 Orange St., c/o CT Corporation System, 111 8th regd. agent upon whom process may Service Co., 80 State St., Albany, NY designated for service of process. Wilmington, DE 19801. Cert. of Ave., NY, NY 10011, regd. agent be served. DE addr. of LLC: 1209 12207-2543. DE addr. of LLC: 2711 SSNY shall mail copy of any LLC to Form. filed with DE Sec. of State, upon whom process may be served. Orange St., Wilmington, DE 19801. Centerville Rd., Ste. 400, Wilmington, c/o Trrigr LLC 350 5th Avenue, Suite 401 Federal St., Dover, DE 19901. DE addr. of LLC: 3422 Old Capitol Trl., Cert. of Form. filed with DE Sec. of DE 19808. Cert. of Form. filed with 731, New York, NY 10118. Purpose: Purpose: all lawful purposes. Ste. 700, Wilmington, DE 19808. Cert. State, 401 Federal St., Dover, DE Jeffrey W. Bullock, Secy. of State, any lawful purpose. of Form. filed with DE Sec. of State, 19901. Purpose: all lawful purposes. 401 Federal St., Dover, DE 19901. Qualification of Blackstone Tactical 401 Federal St., Dover, DE 19901. Purpose: Any lawful activity. Notice of Qualification of Garrison Opportunities Fund (KG Co-Invest) L.P. Purpose: all lawful purposes. Notice of Qualification of CORE Capital SBIC LP. Authority filed with Authority filed with the Sect of State AMSTERDAM LLC. Appl. for Auth. Notice of Qualification of Avalon NY Dept. of State on 2/20/15. Office of NY (SSNY) on 1/20/15. Office Loc: Notice of Qualification of filed with Secy. of State of NY (SSNY) Columbus Circle, LLC. Authority filed location: NY County. Princ. bus. addr.: NY County. LP formed in Cayman GREENSLEDGE ADVISORS LLC on 01/22/15. Office location: NY with NY Dept. of State on 1/20/15. 1290 Ave. of the Americas, Ste. 914, Islands on 12/2/14. SSNY has been Appl. for Auth. filed with Secy. of State County. LLC formed in Delaware (DE) Office location: NY County. Princ. bus. NY, NY 10104. LP formed in DE on designated as agent of LP upon of NY (SSNY) on 01/26/15. Office on 01/14/15. Princ. office of LLC: 60 addr.: 671 N. Glebe Rd., Ste. 800, 5/29/14. NY Sec. of State designated whom process against it may be location: NY County. LLC formed in Columbus Circle, NY, NY 10023. Arlington, VA 22203. LLC formed in agent of LP upon whom process served and shall mail process to: 200 Delaware (DE) on 07/10/13. SSNY SSNY designated as agent of LLC DE on 1/16/15. NY Sec. of State against it may be served and shall Bellevue Pkwy, Ste 210, Wilmington, designated as agent of LLC upon upon whom process against it may designated agent of LLC upon whom mail process to: c/o CT Corporation 19809. Cayman Islands address of whom process against it may be be served. SSNY shall mail process process against it may be served System, 111 8th Ave., NY, NY 10011, LP: 190 Elgin Avenue, George Town, served. SSNY shall mail process to to c/o Corporation Service Co., 80 and shall mail process to: c/o CT regd. agent upon whom process may Grand Cayman, KY1-9005, Cayman the LLC, 520 Madison Ave., 32nd Fl., State St., Albany, NY 12207-2543. Corporation System, 111 8th Ave., NY, be served. DE addr. of LP: 2711 Islands. Name/addr of genl ptr avail NY, NY 10022. DE addr. of LLC: c/o DE addr. of LLC: c/o CSC, 2711 NY 10011, regd. agent upon whom Centerville Rd., Ste. 400, Wilmington, from SSNY. Cert of LP filed with The Corporation Trust Co., 1209 Centerville Rd., Ste. 400, Wilmington, process may be served. DE addr. of DE 19808. Name/addr. of genl. ptr. Registrar of Exempted Limited Orange St., Wilmington, DE 19801. DE 19808. Cert. of Form. filed with LLC: c/o The Corporation Trust Co., available from NY Sec. of State. Cert. Partnerships of the Cayman Islands, Cert. of Form. filed with DE Secy. of Secy. of State of DE, John G. 1209 Orange St., Wilmington, DE of LP filed with DE Sec. of State, 401 133 Elgin Ave, George Town, Grand State, Div. of Corps., John G. Townsend Townsend Bldg., Federal and Duke 19801. Cert. of Form. filed with DE Sec. Federal St., Dover, DE 19901. Cayman, KY1-9000, Cayman Islands. Bldg., 401 Federal St., Ste. 4, Dover, of York Sts., Dover, DE 19901. of State, 401 Federal St., Dover, DE Purpose: all lawful purposes. Purpose: any lawful activity. DE 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. 19901. Purpose: all lawful purposes.

20 | Crain’s New York Business | March 9, 2015 P020-21CL_CN_20150309.qxp 3/6/2015 12:48 PM Page 21

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR EMAIL [email protected] PUBLIC & LEGAL NOTICES

Notice of Formation of MANGO SAC427 111414 LLC. Appl. for Auth. Notice of Formation of Meridion MEADOWS SERVICE GROUP LLC. Notice of Formation of FOREST HILLS TANGO LLC. Arts. of Org. filed with filed with Secy. of State of NY (SSNY) Consulting LLP filed with the Secretary Art. of Org. filed with the SSNY on EYE, LLC Arts. of Org. filed with Secy. Secy. of State of NY (SSNY) on on 01/14/15. Off. loc: New York Co. of State of New York (SSNY) on 01/21/15. Office: New York County. of State of NY (SSNY) on 02/02/15. 01/12/15. Office location: NY County. Orig. juris: DE. SSNY des. as agent 1/14/2015. Office location: New York SSNY designated as agent of the Office location: NY County. SSNY Princ. office of LLC: c/o Rosenberg & of LLC upon whom process may be County. SSNY designated agent LLC upon whom process against it designated as agent of LLC upon Estis, P.C., 733 Third Ave., NY, NY served. SSNY shall mail process to upon whom process may be served may be served. SSNY shall mail copy whom process against it may be 10017. SSNY designated as agent of c/o Robinson Brog, et al., Attn: Roger to 7014 13 Ave., #202, Brooklyn, NY, of process to the LLC, c/o Marissa served. SSNY shall mail process to the LLC upon whom process against it may A. Raimond, 875 3rd Ave, 9th Fl., New 11228. Purpose: any lawful purpose. Allen, 201 West 89th Street, New York, LLC, 550 Park Ave., NY, NY 10065. be served. SSNY shall mail process York, NY 10022. Purpose: General. NY 10024. Purpose: Any lawful purpose. Purpose: Any lawful activity. to the LLC at the addr. of its princ. Magna Partners II, LLC. Appl. for office. Purpose: Any lawful activity. Manlam, LLC. Arts. of Org. filed with Argo 613, LLC. Arts. of Org. filed with Notice of Formation PDM Fund III, LLC Auth. filed with Secy. of State of NY Secy. of State of NY (SSNY) on 02/13/15. Secy. of State of NY (SSNY) on 01/20/15. Notice of Formation of Francmen Arts. of Org. filed with SSNY 12/9/14. (SSNY) on 01/28/15. Off. loc.: NY Co. Off. loc.: NY Co. SSNY des. as agent Off. loc.: NY Co. SSNY des. as agent Jamaica Ventures LLC. Arts. of Org. Off. Loc.: New York Cnty. SSNY Orig. juris.: DE. SSNY des. as agent of LLC upon whom process may be of LLC upon whom process may be filed with Secy. of State of NY (SSNY) designated as agent of LLC whom of LLC upon whom process may be served. SSNY shall mail process to the served. SSNY shall mail process to on 1/13/15. Office location: NY process may be served. SSNY shall served. SSNY shall mail process to LLC c/o Manhattan Laminates, Attn: c/o Robinson Brog, et al., Attn: Neil County. SSNY designated as agent mail process to: c/o Wiggin and c/o Robinson Brog, et al., Attn: David Beth Thornton, 624 W 52nd St., New S. Goldstein, 875 3rd Ave, 9th Fl., of LLC upon whom process against Dana LLP, 450 Lexington Ave, Ste E. Danovitch, 875 3rd Ave., 9th Fl., York, NY 10019. Purpose: General. New York, NY 10022. Purpose: General. it may be served. SSNY shall mail 3800, New York, NY 10017. New York, NY 10022. Purpose: General. process to: c/o The LLC, 1412 Purpose: all lawful activities. CLASSICALLY BEAUTIFUL, LLC, a Notice of Formation of PBE LLC Arts. Broadway, 3rd Fl., NY, NY 10018. of Org. filed with Secy. of State of NY NOTICE OF FORMATION OF LIMITED Notice of Formation of DIYA REAL domestic LLC, filed with the SSNY on Purpose: any lawful activity. (SSNY) on 12/15/14. Office location: LIABILITY COMPANY. 14 LEROY HOLDINGS, LLC Arts. of Org. filed 10/17/14. Office location: New York NY County. SSNY designated as agent STREET DARLING LLC Articles of with Secy. of State of NY (SSNY) on County. SSNY is designated as agent Notice of Articles of Organization 101 of LLC upon whom process against it Organization were filed with the 02/11/15. Office location: NY County. upon whom process against the LLC W. 79th St. Holdings LLC filed with may be served. SSNY shall mail process Secretary of State of New York (SSNY) SSNY designated as agent of LLC may be served. SSNY shall mail NY Secretary of State (SSNY) on to c/o Yiannes Einhorn, 316 E. 22nd 1/14/15. Office location: NY County. upon whom process against it may process to c/o Alan Markle WMSHB, 12/01/2014. Office location: New York St., 7th Fl., NY, NY 10010. Purpose: SSNY has been designated as agent be served. SSNY shall mail process 101 Larkspur Landing Cir., Ste. 200, County. SSNY designated as agent of to Corporation Service Co., 80 State Any lawful activity. LLC upon whom process against it of the LLC upon whom process Larkspur, CA 94939. General Purposes. against it may be served and shall St., Albany, NY 12207-2543. may be served. SSNY shall mail Purpose: Any lawful activity. process to: O’Hare Parnagian LLP, 82 mail a copy of process to 14 LEROY Notice of Formation of St. Nicholas 137 WEST 25 STREET RM LLC, Arts. Wall Street, Ste 300, NY, NY 10005- STREET DARLING LLC, 708 Third Lemor LLC. Arts. of Org. filed with Secy. of Org. filed with the SSNY on 11/19/2014. 3686, Att: Christopher P. Parnagian. Avenue, 20th fl., New York, New ZOE HICKS MARRIAGE AND FAMILY of State of NY (SSNY) on 2/3/15. Office Office loc: NY County. SSNY has Purpose: Engage in any lawful activity. York, 10017, attention Rubin Ferziger. THERAPY, PLLC, a domestic PLLC, location: NY County. SSNY designated been designated as agent upon whom Purpose: for any lawful purpose. Arts. of Org. filed with the SSNY on as agent of LLC upon whom process process against the LLC may be served. SSNY shall mail process to: Glow Art Notice of Formation of GOLDEN 9/25/14. Office location: New York against it may be served. SSNY shall LLC, 28 West 25 St., Fl. 12, NY, NY GUN, LLC. Arts. of Org. filed with Notice of Formation of MIRACLE ON County. SSNY is designated as agent mail process to: 167 W. 145th St., NY, 10010. Purpose: Any Lawful Purpose. Secy. of State of NY (SSNY) on 34, LLC Arts. of Org. filed with Secy. upon whom process against the PLLC NY 10039. Purpose: any lawful activity. 01/20/15. Office location: NY County. of State of NY (SSNY) on 10/09/14. may be served. SSNY shall mail Office location: NY County. SSNY process to: The PLLC, 521 S. Marks WMF 35E63 LLC, a domestic LLC, SSNY designated as agent of LLC Notice of Formation of JSC Interiors, designated as agent of LLC upon whom Ave., Apt. 4E, Brooklyn, NY 11238. filed with the SSNY on 1/16/15. Office upon whom process against it may LLC. Arts. of Org. filed with NY Dept. process against it may be served. Purpose: Marriage and Family Therapy. location: New York County. SSNY is be served. SSNY shall mail process of State on 11/7/14. Office location: SSNY shall mail process to Troutman designated as agent upon whom to c/o BFFA, 1430 Broadway, Ste. NY County. Princ. bus. addr.: 575 Sanders LLP, Attn: Brett R. Baker, process against the LLC may be served. 1208, NY, NY 10018. Purpose: Any NOTICE OF FORMATION OF HEADWIN Lexington Ave., 4th Fl., NY, NY 10022. Esq., 405 Lexington Ave., NY, NY SSNY shall mail process to Maidman lawful activity. INTERNATIONAL LOGISTICS LLC. Sec. of State designated agent of LLC 10174. Purpose: Any lawful activity. and Mittelman, LLP, 70 E. 55th St., Application for Authority filed with upon whom process against it may NY, NY 10022. General Purposes. Notice of Qualification of CRISPIN the Secretary of State of New York be served and shall mail process to: INFERENTIAL PARTNERS, LP. Appl. Notice of Qualification of EAST (SSNY) on 11/13/2014. Office location: c/o CT Corporation System, 111 8th for Auth. filed with Secy. of State of NY MEADOW CAPITAL GP, LLC. NEW YORK County. LLC formed in Ave., NY, NY 10011, regd. agent DARK HORSE CREATIVE LLC, a (SSNY) on 02/13/15. Office location: Appl. for Auth. filed with Secy. of TEXAS on 07/02/2014. SSNY has upon whom process may be served. domestic LLC, filed with the SSNY NY County. LP formed in Delaware State of NY (SSNY) on 02/19/15. been designated as an agent upon Purpose: all lawful purposes. on 2/18/15. Office location: New York (DE) on 01/23/15. Princ. office of LP: Office location: NY County. LLC whom process against it may be County. SSNY is designated as agent 200 E. 79th St., 11th Fl., NY, NY formed in Delaware (DE) on 11/10/14. served. The Post Office address to upon whom process against the LLC 10075. SSNY designated as agent of Princ. office of LLC: 30 W. 61st St., which the SSNY shall mail a copy of NOTICE OF FORMATION OF may be served. SSNY shall mail LP upon whom process against it may #19A, NY, NY 10023. SSNY designated any process against the LLC served PLETHORA LLC: Articles of Organi- process to The LLC, 321 W. 103rd St., be served. SSNY shall mail process as agent of LLC upon whom process upon him/her is: 1271 AVENUE OF zation filed with the Secretary of State #2B, NY, NY 10025. General Purposes. to the Partnership at the princ. office against it may be served. SSNY shall THE AMERICAS, C/O RAYMOND of NY (SSNY) on 1/13/15 . Office of the LP. The regd. agent of the mail process to the LLC at the princ. COUNTER, 43RD FLOOR, NEW location: New York County. SSNY has company upon whom and at which office of the LLC. The regd. agent of YORK, NY 10020. The principal been designated as agent upon whom Notice of Formation of DAVIDJAMIE process against the company can be the company upon whom and at business address of the LLC is: 756 process against it may be served. 450 W. 17TH STREET ASSOCIATES, served is Michael T. Cahill, 200 E. 79th which process against the company PORT AMERICA PLACE, SUITE 815, The Post Office address to which the L.L.C. Arts. of Org. filed with Secy. of St., 11th Fl., NY, NY 10075. Name can be served is Stefan Brundobler, GRAPEVINE, TX 76051. TEXAS SSNY shall mail a copy of any State of NY (SSNY) on 01/21/15. Office and addr. of each general partner are 30 W. 61st St., #19A, NY, NY 10023. address of LLC is: 756 PORT process against the LLC served upon location: NY County. SSNY designated available from SSNY. DE addr. of LP: DE addr. of LLC: c/o Corporation AMERICA PLACE, SUITE 815, him/her is: US Corporation Agents, as agent of LLC upon whom process 2711 Centerville Rd., Ste. 400, Service Co., 2711 Centerville Rd., Ste. GRAPEVINE, TX 76051. Certificate INC. 7014 13th Avenue, Suite 202 - against it may be served. SSNY shall Wilmington, DE 19808. Cert. of LP 400, Wilmington, DE 19808. Cert. of of LLC filed with Secretary of State Brooklyn, NY 11228. The principal mail process to Corporation Service filed with Secy. of State of the State Form. filed with Secy. of State of the of TEXAS located at: 1019 Brazos, business address of the LLC is: 15 Co., 80 State St., Albany, NY 12207- of DE, 401 Federal St., Dover, DE State of DE, 401 Federal St., Dover, Austin, TX 78701. Purpose: any William St. #32D - New York 10005. 2543. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity. DE 19901. Purpose: Any lawful activity. lawful act or activity. Purpose: any lawful act or activity. Notice of Formation of Royal Grey, LLC. Arts of Org. filed with the Sec. of State of NY (SSNY) on 12/10/14. Office location: NY County. Principal business address: 250 E. 53 St, Apt. 1801, New York, NY 10022. United WANT TO GET YOUR COMPANY States Corporation Agents, Inc. designated as agent for service of process. SSNY shall mail process to: c/o United States Corporation Agents, Inc. at IN FRONT OF 250,000 INFLUENTIAL 7014 13th Ave. Ste. 202, Brooklyn, NY 11228. Purpose: any lawful activity.

Notice of Qualification of CORTEC BUSINESS PROFESSIONALS? MANAGEMENT VI, LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 02/03/15. Office location: NY County. LLC formed in Delaware (DE) on 01/26/15. Princ. office of LLC: 200 Park Ave., 20th Fl., NY, NY 10166. SSNY designated as agent of LLC upon Contact Joanne Barbieri whom process against it may be served. SSNY shall mail process to c/o Cortec Group Management Services, LLC, Attn: David L. Schnadig at the princ. at 212-210-0189 office of the LLC. DE addr. of LLC: 2711 Centerville Rd., Ste. 400, Wilmington, DE 19808. Cert. of Form. for classified advertising opportunities. filed with Secy. of State of the State of DE, 820 N. French St., 4th Fl., Wilmington, DE 19801. Purpose: General partner of investment fund.

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Stephen Schwarzman’s payday YOU WERE WONDERING MAYBE WHERE THAT MONEY IS SPENT? Continued from Page 3 Plenty of Mr.Schwarzman’s peers the only Blackstone executive mak- compensation than Lloyd … is be- in private equity enjoyed astonishing ing a fortune.Jonathan Gray,the 45- IN ADDITION to being one of Wall cause you start a company and you payouts last year. KKR’s Henry year-old head of real estate, received Street’s most powerful players, own stock in a company, and you Kravis received $219 million and his a $206 million payout last year, bet- Stephen Schwarzman is a make that whether you worked or partner George Roberts got $229 ter than the $157 million that Presi- heavy hitter in philanthropic didn’t work,” he said. “It’s no differ- million.Apollo Global Management dent and COO Hamilton “Tony” circles. ent than if you were a Steve Jobs CEO Leon Black pocketed $331 James enjoyed. To understand why, Locally, he’s best known for starting his company versus a Tim million, which represented a 39% re- look at how well Blackstone has having his name carved on Cook who’s working there.” duction from $546 million the prior done with its leveraged buyout of the New York Public Library’s What Mr. Schwarzman means year. Carlyle Group’s William Con- Hilton Worldwide Holdings. landmark building on Fifth is his pay isn’t conventional salary way got $343 million, according to a Blackstone took Hilton private Avenue. A $100 million gift in and bonus but rather represents his Wall Street Journal analysis. in 2007 for $26 billion, anteing up 2008 made that happen. slice of the gains generated by The immense payouts are a re- $5.6 billion in cash and borrowing Another $100 million Blackstone’s leveraged-buyout flection of the especially favorable the rest. Three years later, when the donation in 2013 got his name funds and other investment vehi- tailwinds enjoyed by buyout firms hotelier was in deep financial trou- attached to the Schwarzman cles. If investors profit—and those during the past several years. ble, Blackstone invested $800 mil- Scholars program. Modeled investors include the New York Roaring stock markets have en- lion more by buying out some debt after the U.K.’s Rhodes state pension plan—then so does abled them to reap fat sums from holders at a steep discount. But by Scholars, the program will bring Mr. Schwarzman, who also puts selling holdings acquired at de- 2013, business had turned around, money in the funds. Blackstone and Hilton held an initial public of- 200 students from around the distributed $20.6 billion worth of fering that valued Blackstone’s 76% world to study and live at gains to fund investors in 2014. (By His pay isn’t stake at $16 billion—meaning the Beijing’s Tsinghua University. comparison, Goldman shares re- firm had gains worth $10 billion on He explained to The Chronicle turned about 11% last year, and the typical salary paper from a single investment. of Philanthropy that he was investment bank paid out about Those winnings have grown as motivated to stem resentment $1.5 billion in dividends.) and bonus but Hilton’s stock has risen since the over China’s rapid growth. ap images “I felt this was a potentially STEPHEN AND CHRISTINE SCHWARZMAN at The only founder of a public IPO,fueled in part by the company’s last month’s Vanity Fair Oscars after-party. company who appears to have pock- rather a slice selling such properties as the Wal- destabilizing scenario, and it eted anywhere near as much cash as dorf Astoria for nearly $2 billion. would lead to economic, trade Mr. Schwarzman in 2014 was Ora- of Blackstone’s Blackstone last year sold about 20% and possibly military tensions,” he said. cle’s Larry Ellison, who was in line of its stake in Hilton for $5 billion, Mr. Schwarzman’s personal fortune is pegged at $12.3 billion by to receive $528 million worth of div- huge gains and its remaining 55% is worth Forbes. Much of his wealth is tied up in Blackstone Group, which he helped idends from his software shop last about $16 billion, providing a rich launch in 1985 and took public in 2007—just before the first tremors of the year, according to Bloomberg News on investments vein the firm should be able to prof- financial crisis. His 45% stake in the firm is now worth $9 billion. At a data. Carl Icahn received $654 mil- itably mine for years. conference last week, Mr. Schwarzman observed—as modestly as he could— lion worth of dividends from his No wonder Oppenheimer ana- that Blackstone’s $23 billion market capitalization is more than the values of publicly traded investment firm in lyst Chris Kotowski has described KKR, Apollo Global Management and Carlyle Group put together. 2014, but elected to take the pay- Blackstone as “the best business He has used a portion of his wealth to acquire more than $100 million ment in a form of shares, according pressed prices only five or six years model in financial services,” adding worth of properties, including a Park Avenue apartment, a villa in Jamaica to a filing. (For those keeping his- ago. In the meantime, some big in a January report: “We don’t think and estates in East Hampton, Palm Beach and Saint-Tropez. torical score, Microsoft Chairman competitors were forced out of the this is as good as it gets [yet].” “I love houses,” he told The New Yorker in 2008. “I’m not sure why.” Bill Gates received a $3.3 billion game as regulators pressured giant While it’ll be tough to repeat the He also apparently loves a good party. His 60th-birthday bash in 2007 at payout back in 2004, when his com- banks to dial down private-equity Hilton success, Blackstone retains the Park Avenue Armory became a kind of Gilded Age metaphor for Wall pany declared a special dividend.) investing following the financial significant interests in publicly trad- Street’s boom during the last decade. The master of ceremonies was These kinds of investment gains crisis. And pension funds across the ed real estate, retail, food and phar- Martin Short, and entertainers included Marvin Hamlisch, Patti LaBelle and are taxed at lower rates than ordi- globe poured money into private- maceutical companies that it can sell Rod Stewart. nary income, meaning their super- equity firms,with Blackstone seeing to a hot stock market. It also has 82 wealthy recipients keep more of inflows last year at the rate of better firms in its private-equity portfolio Besides his big library and university gifts, Mr. Schwarzman supports 200 their money than folks paid salaries than $1 billion a week. that it can sell back to the public,po- young New Yorkers a year through the Inner City Scholarship Fund. He also and bonuses. In addition, the pay- Investors are knocking hard on sitioning Mr. Schwarzman for even serves on such boards as the Frick Collection, the Film Society of Lincoln outs typically are ignored when tal- the door because of performances more astonishing paydays to come. Center, the New York City Ballet and the Partnership for New York City. lying annual lists of top-paid execu- like this: A Blackstone fund from Who knows? One year soon, he In addition, there is the Blackstone Charitable Foundation, which had tives because they aren’t considered 2002 with $6.8 billion in committed may dethrone Wall Street’s reigning $90 million in assets in 2012, according to a filing with the IRS. Among payment for services rendered. capital had returned nearly $18 bil- king of pay, Michael Milken, who other causes, the foundation supports entrepreneurs trying to help out lion to investors as of last fall,accord- was awarded $550 million in 1987. economically distressed parts of the country. LISTEN to a discussion at —AARON ELSTEIN CrainsNewYork.com/podcasts ing to Oppenheimer & Co.research. Adjusted for inflation, that would be Mr. Schwarzman, 68, is hardly equivalent to $1.1 billion today. Ⅲ

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22 | Crain’s New York Business | March 9, 2015 20150309-NEWS--0023-NAT-CCI-CN_-- 3/6/2015 7:41 PM Page 1

ROOM FOR THE INNS Hemmed in by hotels Hotels by industrial neighborhood EXISTING PLANNED Continued from Page 3 how property owners “set their price so.”He said he will soon lay out a vi- NEIGHBORHOOD HOTELS HOTELS SoHo, and visitors are now much and expectations for their own sion for the future. more willing to decamp to north property,” said Adam Friedman, That won’t help the companies Long Island City, Queens 24 17 Brooklyn and Queens than they Pratt’s executive director. “It has a that have already picked up stakes. Garment center, Manhattan 31 10** were decades ago, when the pro- destabilizing effect on the real es- Tri-State Biodiesel, an 11-year-old manufacturing zoning laws were tate market.” firm that collects used cooking oil Williamsburg, Brooklyn* 3 9 written. Back then, those areas were Further, Mr. Friedman said, and turns it into fuel, left North Greenpoint, Brooklyn 13 noisy and gritty; not so now. manufacturing tenants may be less Williamsburg six years ago for the *Data from spring 2014 **Estimate Williamsburg,of course,is now a vi- inclined to invest in their current Bronx’s Hunts Point.The neighbor- Sources: Long Island City Partnership, Garment District NYC, Pratt Center for Community Development brant hotbed of creativity that lures properties, purchasing new equip- hood is now home to,among others, busloads of tourists and Manhat- ment or hiring new staffers, if they the Wythe Hotel and McCarren tanites every weekend. believe they will soon be moving on. Hotel & Pool. permission or variances to commit tion,” said Mr. Mallon, who said he There are still 2,100 manufactur- York Scaffold may be staying to an industrial area, but they’re re- will have to ask his customers for a Unintended consequences ing firms in Long Island City, and put, but it won’t be expanding any ally not a good fit.” Though current 30% raise to afford any rent increase. Since 2007, at least 11 hotels many of them employ neighbor- time soon, either. Mr. Buettner, zoning allows for hotels, critics be- The irony is that the uptick in have opened in industrial business hood residents. The area cannot af- who co-owns the company with his lieve hoteliers should be required to hotels comes at a time when the city zones, and another 16 are on the ford to let them all go. “We need sister Kathryn, blames the new ho- get special permits. may already be overstocked. In Jan- way, according to a recent Pratt thoughtful devel- tels for York’s inability to buy near- uary,average daily room rates for the Center for Community Develop- opment planning by property. Three new hotels have Inhospitable climate New York market fell by a whopping ment study funded in part by the around how to 102K opened within blocks of his office Moving out of the garment cen- 8.6% over January 2014,to $190.16, New York Hotel and Motel Trade make sure, for the NUMBER OF and warehouse, which are in an ter isn’t in the cards for James Mal- according to hotel research firm Council. IBZs were established by sake of the long- HOTEL ROOMS IBZ, he said. lon of 25-year-old InStyle USA, a STR. Average revenue per available the Bloomberg administration to term viability of in New York City Another is planned for a 5,000- sportswear maker for brands includ- room was down 12.9% over the “protect existing manufacturing dis- the city, that we (with thousands square-foot yard that Mr. Buettner ing Theory and Saks. The 10-year year-earlier period, a decline not more on the way) tricts and encourage industrial have spaces once rented with hopes of purchas- lease on his 15,000-square-foot seen in other major metropolitan ar- growth citywide.” for these uses,” ing. In the end, he couldn’t afford space on West 36th Street is up in 18 eas, such as Chicago and San Fran- Similarly, in older M1 zones— said Elizabeth 2,100 anywhere near the $1.2 million months even as he’s watching hotels cisco. Apartment-share sites such as areas for light manufacturing—at Lusskin, presi- NUMBER OF price. Worse, Mr. Buettner, who sprout up all around him. Airbnb and HomeAway are only least 115 hotels are up and running, dent of the Long MANUFACTURERS employs some 60 staffers,has had to Though he’s worried his $22- adding to the glut. and 75 more are in the pipeline. Island City Part- in Long Island City decrease his product offerings. per-square-foot rent will increase “No one is concerned that we There are 24 hotels in Long Island nership. (with more He knows he’s in the midst of an by as much as a third, he’s reluctant don’t have enough hotels—some leaving every City alone. Whatever the zoning At a breakfast month) us-versus-them battle. “Some of us to find a cheaper neighborhood be- may argue that we have too many,” laws were once meant to accom- late last week, are not the kind of neighbors you cause his business benefits from its said Josh Gold, political director at plish, they’ve long since stopped be- Mayor Bill de Blasio acknowledged want next to hotels—no matter how proximity to pleating and belt- the Hotel and Motel Trade Council. ing useful. the dilemma. “We regard manufac- quiet we are, we’re noisy if you’re making companies. It doesn’t help “So to have hotels crowding out oth- The hotel growth influences turing as a crucial piece of our econ- sleeping next door,” he said, citing that he invested $400,000 in er uses, like manufacturing, that the omy,”he said.“There are other parts early-morning truck loading and his space. city wants to grow … is a policy con- LISTEN to a discussion at of the city that are great manufac- the general cacophonous sound- “I’m a good tenant. We pay our cern the city should be paying atten- CrainsNewYork.com/podcasts turing centers and need to remain track of work. “Hotels don’t need rent and have a very clean operation to.” Ⅲ Hotel for hipster- industrial complex

He also noted that a hotel at the Mixed-use site plans site could become an important another reason to amenity as efforts continue to trans- form it into an office and manufac- head to Sunset Park turing hub from a derelict com- pound used mostly for storage. “If you have 20,000 employees BY DANIEL GEIGER there and companies traveling to the site all the time, they’ll need a place A partnership that bought a stake in to stay,” Mr. Scissura said. the mixed-use industrial complex In 2013, Jamestown (which sarah dorio sarah known as Industry City almost two A $1 BILLION rehab may be the next step in owns Chelsea Market), Belvedere years ago is expected to ask the city the transformation of a once run-down area. Capital and Angelo Gordon, pur- to give it the flexibility to build a ho- chased a roughly 50% interest in the tel on the 32-acre site along the 16-building, 6 million-square-foot Sunset Park, Brooklyn, waterfront. way,” said Carlo Scissura, president former industrial complex. Since buck ennis The request will be made Mon- and CEO of the Brooklyn Chamber then,the group has pumped in more INDUSTRY CITY also offers 18,000 new windows, 144 upgraded elevators and canal views. day, when the group, a partnership of Commerce,which will be hosting than $100 million to upgrade some among Jamestown, Belvedere Cap- the Monday meeting at Industry of the decaying buildings there.The ital and Angelo Gordon, will an- City.“We would love Third Avenue team replaced 18,000 windows and clothing and home-furnishings One of the partners in the team, nounce that it plans to invest $1 bil- to be brighter and safer and more upgraded 144 elevators and brought company;and Ball and Buck,a men’s Jamestown, has a history of trans- lion to refurbish the sprawling bike-friendly.” the remaining 30% of unleased clothing company from Boston. forming industrial properties in the facility.The redevelopment will cre- space back into use. Rents at the complex range from city. In addition to its success with ate nearly 20,000 jobs in the area. Fresh coat of paint They filled the complex with a the mid-teens to mid-$20s per Chelsea Market—a former Nabisco The partnership will also ask the city Mr. Scissura proposed better new influx of businesses that have square foot, compared with the gar- cookie factory—the Atlanta-based to improve the surrounding neigh- pedestrian crossings across Third flocked to Brooklyn in search of ment district’s average $70 per company was one among a group of borhood, including the Gowanus Avenue, and repairs and a fresh coat cheaper rents and the borough’s cre- square foot. investors that took a blocklong tele- Expressway, which runs parallel to of paint to the underside of the ele- ative vibe. com hotel at 111 Eighth Ave. and Industry City. vated Gowanus Expressway, which So far, those efforts have yielded Line of succession turned it into the epicenter of “We all want something to hap- runs above the avenue, among other successes. The complex has become The Brooklyn Nets reached a midtown south’s transformation pen with the Gowanus Express- improvements. a destination for e-commerce start- deal to open a 70,000-square-foot into a tech-, creative- and media- ups and fashion firms outside the training facility at the complex in company magnet. Jamestown sold CORRECTIONS garment district in Manhattan. 2013. High-tech companies such as that building to Google for $2 bil- Ⅲ The site of Howard Hughes Corp.’s proposed South Street Seaport tower would be in the floodplain, Among the 25 fashion tenants at In- MakerBot,the manufacturer of 3-D lion in 2011. but the ground floor would be elevated above it. This information was misstated in the March 2 Insider dustry City are BaubleBar, a jewelry printers, also took space at the item “Brewer predicts biblical flood.” e-commerce startup; Steven Alan, a property. Amanda Fung contributed to this article.

March 9, 2015 | Crain’s New York Business | 23 20150309-NEWS--0024-NAT-CCI-CN_-- 3/6/2015 1:34 PM Page 1

BUSINESS 19.9K Violations issued by the Dept. of Consumer Affairs in fiscal 2014, down 15% from 2013 PEOPLE Source: Preliminary Mayor’s Management Report 2015

EXECUTIVE MOVES

Medallion Sports Properties: Sean Downes, 43, joined as chief executive of the new division of Medallion Financial Corp. He was previously head of business development at Nascar. Persado: David Atlas, 52, joined the communications-software company as chief marketing officer. He was previously a market-strategy consultant. Metropolitan Hospital Center: Anthony Rajkumar, 55, joined as executive director. He was previously chief operating officer at North Central Bronx Hospital. Lippman Jungers: Jon Kahn, 51, joined the legal recruiting firm as a senior managing director. He was previously president of JEK Partners, which he founded. Bruce Lubin, 51, joined as senior managing director. He was previously vice president at Howard-Sloan Legal Search. Lebenthal Asset Management: Ronald Deutsch, 57, joined as portfolio manager and wealth adviser. He was previously managing director at Sage Capital Management. Vivaldi Partners Group: RINGSIDE SEAT: Agathe Claire Kinder Barrett Blanchon-Ehrsam, specializes in making 39, was promoted to gold rings and chief marketing earrings at her officer at the Williamsburg studio. marketing-strategy firm, a newly

buck ennis created position. She was previously executive director. GOTHAM GIGS BDO Consulting: Momar Ndiaye,38, joined as director. He was previously investigations leader at the Office of the Inspector General of the Global Fund to Fight AIDS, Tuberculosis and Malaria. Transwestern: Ryan McKinney,30, She leaves no stone unturned joined the commercial real estate firm as senior vice president. He was previously an assistant director at Savills Studley. For jewelry maker, it paid not to listen to her parents Rory Murphy, 29, joined as senior vice president. He was previously an If Claire Kinder Barrett had listened to her her brand didn’t happen easily.The retail world associate director at Cushman & ‘It’s Wakefield. parents, she would be designing lights and unraveled just as she graduated in the spring of David Stockel, 30, joined as senior vice creating wrenches. Instead, the Burlington, Vt., native 2008. ¶ “By fall, my visions of my dreams were president. He was previously an associate director at Cushman & is making jewelry out of a 200-square-foot falling out of the window,” she said. ¶ She Wakefield. little East Williamsburg studio. ¶ “I would have found sales jobs at Catbird and other local Interactive Advertising Bureau: sculptures been good at [industrial design], but it didn’t shops, and little by little amassed enough Scott Cunningham, allow enough artistic expression,” said the 28- money to buy her own tools—$500 each for a 40, was promoted to you can year-old. “Jewelry is like industrial design, but stone-cutting machine and an ultrasonic senior vice president of technology and wear’ it’s creating little sculptures you can wear.” ¶ cleaner—and make her own jewelry. Ms. ad operations and After majoring in jewelry at Pratt Institute, Barrett still works the retail floor at Catbird general manager of the IAB Tech Lab. not in interior design as her parents advised, once a week, not to make money necessarily He was previously vice president of Ms. Barrett opened Claire Kinder Studio five but to gain exposure to her customers. Still, she technology and ad operations. Michael Theodore, 63, was promoted to years ago, specializing in delicate gold earrings doesn’t always admit the pieces they’re senior vice president of IAB and and rings. ¶ Selling to 10 small retailers, admiring are her own. ¶ “Being a jeweler can general manager of the IAB including Williamsburg’s trendy Catbird be very isolating,” said the Kensington, Education Foundation. He was previously vice president of learning boutique, Ms. Barrett has made a name for Brooklyn, resident. “It’s very easy to sit in your and development at IAB. herself as an up-and-coming designer in the own studio, stare at things on your bench 24/7 Knightsbridge Park: Alexandra Cave, 29, was promoted to director of indie world of baubles and trinkets. Her and never be exposed to people.” hospitality, a newly created position, products range from $50 to $4,000. ¶ Starting —adrianne pasquarelli at the luxury-focused digital

24 | Crain’s New York Business | March 9, 2015 20150309-NEWS--0025-NAT-CCI-CN_-- 3/6/2015 1:30 PM Page 1

SOURCE EXECUTIVE MOVES LUNCH: BRIAN PERSKIN Interview by Yoona Ha marketing agency. She was previously senior project manager. Futuro Media Group: Julio Ricardo Varela, 45, joined the nonprofit organization as digital-media director. He was previously digital producer for Al Jazeera America’s The Stream. Rockefeller Group: Divorce lawyer is married to his job Justin Huebener,31, joined the real estate owner, developer and investment manager as director of marketing. He was previously leasing ttorney Brian Perskin probation violation. So he went to Are there misconceptions about divorce for pickups and dropoffs. That’s a marketing manager at Equity Office. has practiced family trial. I asked the cop, “Did you fin- lawyers? much shorter conversation than ar- Fox Rothschild: William Hansen,63, law for 25 years, refer- gerprint that gun?” The cop looked I turn down many more cases than guing about different schedules for joined the law firm as a partner. He was eeing many battles at me and said, “No.” I said, “Well, I take. Many lawyers take anyone. being with the children. In New previously a partner at Lathrop & Gage. involving cheating Divorces are expensive, and some Bridget Short, 42, then you can’t prove what you said, York,this lack of uniformity is clog- joined as a partner. Aspouses and visitation rights. right?” “I guess not,” said the cop. lawyers are never able to do the ging the system, and real She was previously a Divorces can be expensive and The jury found him not guilty. So amount of work they promise. cases of domestic vio- partner at Lathrop & exhausting. you never know. That’s why clients get pissed lence are not processed Gage. But the real secret ingredient for off.I say to a person,“You don’t fast enough. Once Guardian Life a nightmarish, tabloid-worthy di- Have you taken divorce cases involving have money to litigate this for that’s worked on, our Insurance Co. of vorce, according to Mr. Perskin, is drugs? Sex? the next two years.” They jobs will be so much America: Matthew an uncooperative spouse. “There is There’s plenty of cases where one is wind up being unhappy with easier. Ⅲ Butler, 55, joined as no negotiating with crazy,” he said. cheating on the other. What I their lawyer. second vice president and head of business growth initiatives. He was found with cheating is it really is How did you get into divorce law? What makes your job difficult? formerly vice president of product because somebody is miserable. planning and continuous improvement My first job out of law school was When people cheat, in a lot of the Sometimes people are crazy. at Automatic Data Processing. as a public defender at the Legal cases it is not because they were out The one thing I Dewberry: Keith Itzler, 57, was promoted Aid Society, and I got a lot of trial looking for someone; they were so learned is that to vice president of the professional- experience. Then I start- miserable that they just you can’t services firm. He was previously ed my own practice. I got WHERE found somebody else. I negotiate assistant branch manager. into divorce and custody had a client who met with crazy. TD Bank: Matthew Salmon, 30, joined as law because I was getting THEY someone at Starbucks. The cases vice president and relationship manager in commercial banking, based in hired by a lot of fathers DINED: Before he went to the that last long brought into family court bathroom, he asked the and make Brooklyn. He was formerly vice COMFORT DINER president of middle-market lending at for orders of protection, 214 E. 45th St. woman next to him,“Can lawyers a Israel Discount Bank of New York. and they weren’t able to (212) 867-4555 you watch my bag?” He lot of Krux: Chris O’Hara, 46, joined the cloud- see their kids.I was fight- comfortdiner.com returned and started money based data-management company as ing for people to see their speaking to her. He are vice president of strategic accounts. He kids. The money side of AMBIENCE: wasn’t looking to pick when An old-school was formerly chief revenue officer of divorce was easy, because someone up at Starbucks one or Bionic Advertising Systems, which he diner with leather co-founded. I majored in economics booths and three blocks from his both Routehappy: Jonathan Savitch, 43, joined and always had an inter- counter seating house. He was so miser- spouses est in finance. that also offers an able he didn’t want to go are literally crazy. the product-differentiation platform for unpretentious air travel as vice president of business array of classic home. It doesn’t matter if development. He was formerly vice What about the stress of diner foods. you offer 100%; president of business development at being a divorce lawyer? The chatter of How has divorce changed they could think Thales. It’s tough,but you realize customers mixes over time? that it’s not fair. Cureatr: Kent Hiller, 48, joined the with the clanging for these people it’s the of pots and pans. In the past, you needed And another mobile-care coordination organization worst time in their lives. to prove a reason for get- thing is there’s as vice president of product strategy and partnerships. He was formerly vice I know it’s going to get WHAT THEY ATE: ting a divorce. Just be- no standard- Ⅲ Cobb salad, president of data solutions at Thrive better for them. I also cause you weren’t happy ized access don’t take it personally. Diet Coke didn’t mean you could schedule [for Health Data Solutions. Ⅲ Clients can scream at me Huevos get one. A lot of times, visiting chil- Karl Kiss, 52, joined as vice president of rancheros, coffee sales and marketing. He was formerly and I’ll call them up 10 you lived with your wife dren]. Days vice president of sales and marketing at minutes later and ask, PRICE: $36.47, or husband unhappily are spent argu- RazorInsights. “Are we OK?” One thing including tip and couldn’t get di- ing over pickup Jay Smith, 44, joined as vice president of I’ve learned over 25 years vorced.For instance,if all and dropoff. I product. He was formerly director of is that even if you have the tough- the assets were in one person’s mean, how easy product management for both Sparta Systems and Medidata Solutions. est case in the world and you think name, then tough luck. Now any- would it be if they Pearl Cohen Zedek Latzer Baratz: Daniel you are going to lose, you don’t one can get divorced if they are un- had a standardized Melman, 42, joined the law firm as a know what the judge will do. That happy.But you still need to decide, schedule they post partner. He was previously counsel at is why people settle cases. where will the kids live? How outside the [court- McKool Smith. much child support? How to di- room] door? There Walden Macht & Is there a story behind that lesson? vide up the money? would be no arguments. Haran: Sean Haran,45, One of my first trials as a public de- What happens a lot in divorce is joined the newly fender was a gentleman found with you have arguments and people say What court-system improve- created law firm as a ments do you recommend? partner. He was a gun,which he dropped when cops things you never really mean. You previously an assistant came up to him. They offered him curse. You say, “I’ll kill you.” And Right now, there’s not U.S. attorney in the a deal: Plead guilty to the gun. He then all of a sudden they’re a dan- much uniformity.In Texas Eastern District of had violated probation, so it didn’t ger to society and can’t see their they have a thing called a New York. matter if he beat the gun case. He kids. That’s not fair; people often standing order. Every par- Tim Macht, 49, joined as a partner. He would still get the same time for the say what they don’t mean. ent gets the same schedule was previously an assistant U.S. attorney in the Eastern District of New York. Jim Walden, 49, joined the newly created law firm as a partner. He was previously an assistant U.S. attorney in the Eastern PLAY/LIST People, places and things that make Brian Perskin tick District of New York. STILL TOGETHER: attending his kids’ hockey or dance DIVORCE IS EXPENSIVE: —thaddeus rutkowski Though his business is based on practices, or playing golf in New In his book, unraveling marriages, Mr. Perskin has Jersey. Winning Divorce EXECUTIVE PROMOTIONS been married to his wife, a legal aid Strategies, he The fastest way to get an announcement into attorney, for 20 years; they have two DOESN’T MIND THE COMMUTE: emphasizes that Crain’s is to submit online. Fill out the form sons and a daughter. Driving to Manhattan from New Jersey divorces are expensive. Spouses at www.crainsnewyork.com/section/ isn’t a drudge. He contemplated should ask themselves if divorce is

executive_moves. The Executive Moves column ennis buck is also available online. ON THE WEEKENDS: buying in Manhattan but enjoys the worth the downside: going broke Mr. Perskin spends most of his time calm aspects of the suburbs. and seeing the kids less often.

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SNAPS Top chefs help raise $1.1 million to benefit Cookies for Kids’ Cancer patrickmcmullan.com / sylvain gabourey sylvain JARED KUSHNER and IVANKA TRUMP at the Chefs for Kids’ event. patrickmcmullan.com / patrickmcmullan.com / sylvain gabourey sylvain

sylvain gabourey sylvain Radio personality ELVIS DURAN and JOSH CAPON, executive chef of Lure BROOKE SHIELDS, MARIO BATALI and GRETCHEN HOLT-WITT at the Chefs for Kids’ Cancer benefit on Feb. 26. The fete raised more than $1.1 million for the Fishbar, B&B Wine Pub and El Toro Blanco, at the benefit, which raised organization Cookies for Kids’ Cancer. Ms. Holt-Witt and her husband, Larry, founded the group in 2008 after their son was diagnosed with cancer. funds to improve pediatric cancer treatments. margot jordan

CHRISTOPHER MYERS and MISTY new of york uja-federation COPELAND at Ms. Copeland’s Feb. 23 margot jordan LLOYD GOLDMAN, WILLIAM FRIEDLAND and RICHARD MACK at the UJA-Federation of book-signing for her autobiography, Life in Choreographer GERMAUL BARNES and TRACEY CAPERS of the book-signing event sponsor, the New York’s Real Estate & Allied Trades division gala honoring Mr. Friedland. The Feb. 25 event Motion: An Unlikely Ballerina. Center for Arts and Culture at the Bedford Stuyvesant Restoration Corp. raised $1.4 million. national museum of mathematics of museum national national museum of mathematics of museum national national museum of mathematics of museum national PETER CARR and DEXTER SENFT of Morgan Stanley at the GLEN WHITNEY, CINDY LAWRENCE and TIM NISSEN at the National Museum of TIMUR GATANOV, SANDY KUTIN and WENYING GAN, who beat out about 250 participants Math Masters gala, which raised $1.4 million. Mathematics’ Math Masters competition on Feb. 24. to claim the top three spots in the Math Masters competition.

See more of this week’s Snaps online at CrainsNewYork.com/galleries.

26 | Crain’s New York Business | March 9, 2015 20150309-NEWS--0027-NAT-CCI-CN_-- 3/6/2015 1:31 PM Page 1

FOR THE RECORD

● Department of Parks and Recreation owner, Abacus Federal Savings Bank, transaction value.The information was Seeks competitive sealed bids by 10:30 was represented by David Danick, Greg obtained from Thomson Reuters. ABOUT THIS SECTION a.m. on March 26 for the demolition of Gang and Catherine O’Toole of CBC FOR THE RECORD is a weekly listing of information from the public record the existing comfort station and the Alliance. The asking rent was $36 per ● L-3 Communications Holdings that can help businesspeople in the New York area find opportunities, construction of a new one in Gravesend square foot. (LLL) Park in Brooklyn. Bid documents are Michael Strianese, chief executive, potential new clients and updates on competitors. available for a fee of $25, payable by ● Fashion and lifestyle communications exercised options on 80,000 shares of To ask questions or get more information on this section, contact company check or money order to the agency Bromley Group has renewed its common stock at $67.49 per share on Crain’s research department at [email protected]. City of New York, Parks and Recreation, lease for 4,200 square feet at 15 W. 26th Feb. 26, in a transaction worth in the Blueprint Room, Room 64, St. The firm takes up the entire third $5,399,200. On the same day, he sold Olmsted Center, Flushing Meadows floor of the building. The length of the 100,000 shares of common stock at Corona Park, Queens, from 8 a.m. to lease was undisclosed. Jared Anderson prices ranging from $130.99 to $131.08, NEW IN TOWN BANKRUPTCIES 3 p.m. To make inquiries, contact and Elliot Klein of EVO Real Estate in a transaction worth $13,100,800. He Michael Shipman at (718) 760-6705 or Group represented the landlord, Mesa now directly holds 154,539 shares. Companies that would like to have details The following listings are selected from the [email protected]. Realty Associates. There were no tenant of openings published should submit most recent available filings by companies brokers involved in the deal. The asking Steven Kantor, senior vice president, descriptions following this format to cnyb- seeking bankruptcy protection in the Seeks competitive sealed bids by 10:30 rent was $40 per square foot. exercised options on 48,908 shares of [email protected], with “New Southern and Eastern Districts of New a.m. on March 31 for reconstruction of common stock at prices ranging from in Town” in the subject line. York. Information was obtained from U.S. parks and playgrounds, and ● The Pegasus Group signed a 10-year $67.49 to $76.82 per share between Feb. Bankruptcy Court records available on miscellaneous site work, at various lease for 2,800 square feet at 115 19 and Feb. 23, in a transaction worth ● Airweave Public Access to Court Electronic Records. locations in the Bronx. Bid documents Broadway.The landlord and developer of $3,420,748. In the same period, he sold 498 Broome St. Listings are in alphabetical order. are available at nyc.gov/parks/ multitenant properties will occupy the 48,908 shares of common stock at prices The Japanese premium bedding-topper businessopportunities. Bid documents 17th floor of the 22-story building. ranging from $130.57 to $131.62, in a brand opened its first U.S. brick-and- ● 98 Meserole Street are available for a fee of $25, payable by Pegasus was represented by Alan Bonett transaction worth $6,401,495. He now mortar location, in SoHo. The store 98 Meserole St., Apt. 1R, Brooklyn company check or money order to the and Brad Cohn of Adams & Co.The directly holds 32,732 shares. employs “sleep counselors” who educate Filed for Chapter 11 bankruptcy on Feb. City of New York, Parks and Recreation, landlord,Trinity Center, was represented customers on product features and sleep 26. The filing cites estimated assets of in the Blueprint Room, Room 64, by Adam Foster, Brad Gerla, Michael ● Regeneron Pharmaceuticals Inc. benefits. $1,000,001 to $10 million and estimated Olmsted Center, Flushing Meadows Rizzo and Sam Spillane of CBRE.The (REGN) liabilities of $500,001 to $1 million. Corona Park, Queens, from 8 a.m. to 3 asking rent was not disclosed. George Louis Sing, director, exercised ● BKB p.m. To make inquiries, contact Michael options on 15,000 shares of common 321 E. 73rd St. ● Chatham Square Restaurant Inc. Shipman at (718) 760-6705 or RETAIL stock at $18.61 per share on Feb. 20, in a The offshoot of East Hampton, L.I.’s 6 Chatham Square, Manhattan [email protected]. ● AKOO Clothing signed a 12-year transaction worth $279,150. On the Bay Kitchen Bar restaurant opened on Filed for Chapter 7 bankruptcy on Feb. lease for 9,500 square feet at 231 W. 39th same day, he sold 15,000 shares of the Upper East Side. The menu 26. The filing cites estimated assets of GOODS AND SERVICES St. The menswear firm, owned by common stock at $423.12, in a includes Montauk pearl oyster and $50,001 to $100,000 and estimated ● Department of Citywide Administrative Grammy-winning rapper T.I.,will be transaction worth $6,346,800. He now local fluke appetizers, and grilled sea liabilities of $500,001 to $1 million. The Services joined in the space by its owner, RP55 directly holds 130,772 shares. bass, dayboat scallop and aged sirloin creditors with the largest unsecured Seeks competitive sealed bids by 10:30 Group, a manufacturing and entrées. claims are HWCC Realty Corp., owed a.m. on March 23 for an AV streaming distribution company.The tenant was Robert J. Terifay, senior vice president, $256,551.75; HWCC Realty Corp., system for the Town Hall Foundation. represented by Michael Yadgard of exercised options on 24,375 shares of ● Eamonn’s owed $244,887.55; and Aqua Best Ind., Bid documents are available at a856- Maxwelle New York. Jeff Buslik of common stock at $30.63 on Feb. 23, in a 132 Montague St., Brooklyn owed $39,508.72. internet.nyc.gov/nycvendoronline/home Adams & Co. represented the landlord, transaction worth $746,606. On Feb. 24, The Irish pub, which closed in 2012, .asp. Vendors can also request the bid by 231/249 West 39 Street Associates. The he sold 11,173 shares of common stock has reopened near its original location ● El Bethel Prayer, Praise & Worship Inc. contacting Vendor Relations at asking rent at the 12-story building was in a transaction worth $4,733,665. He in Brooklyn Heights. Its hours of 3514 Church Ave., Brooklyn [email protected] or (212) $45 per square foot. now directly holds 21,680 shares. operation during the week are 11 a.m. Filed for Chapter 11 bankruptcy 386-0044. To make inquiries, contact to 2 a.m., with the kitchen closing protection on Feb. 26. The filing cites Rafael Soto at (212) 386-0459 or ● Tiny-cupcake maker Baked by ● Arrow Electronics (ARW) at 1 a.m. estimated assets of $500,001 to [email protected]. Melissa inked a 12-year lease for 50 Michael J. Long, chief executive, $1 million and estimated liabilities of square feet at 63 Spring St. The company exercised options on 109,153 shares of ● Loi Estiatorio $100,001 to $500,000. ● Housing Authority had closed a shop at 80 Spring St. last common stock between Feb. 19 and Feb. 132 W. 58th St. Requests proposals by 3 p.m. on March year. The tenant was represented by 20 at prices ranging from $35.59 to Greek celebrity chef Maria Loi opened a ● La Contessa Inc. 27 for inventory-forecasting and Ricky Braha of JTRE, which owns the $62.78, in a transaction worth restaurant in midtown. The menu 800 Fifth Ave., Apt. 14E, management-techniques training class five-story building. Jack Terzi $5,574,126. In the same period, he sold includes entrées such as psari sto alati, Manhattan for NYCHA employees. Proposals can represented JTRE in-house. The asking 84,100 shares of common stock at prices which is a whole fish accompanied by Filed for Chapter 11 bankruptcy on Feb. be obtained online at the NYCHA rent was $4,500 per square foot. ranging from $60.07 to $65.26, in a chicory, lemon and olive oil, and kokoras 25. The filing cites estimated assets of $0 iSupplier portal. To make inquiries, transaction worth $5,223,558. He now krassatos, a rooster combined with red to $50,000 and estimated liabilities of contact Jieqi Wu at (212) 306-8278 or directly holds 348,539 shares. wine, tomato, cinnamon, cloves, lemon $1,000,001 to $10 million. The creditors [email protected]. STOCK TRANSACTIONS and a Greek pasta. with the largest unsecured claims are ● Philip Morris International (PM) Christopher Zerebny, owed $33,034.78; Following are recent insider transactions at Andre Calantzopoulos, chief executive, Manadu Unno, owed $27,164.38; and REAL ESTATE DEALS New York’s largest publicly held companies sold 30,000 shares of common stock on COMPANY MOVES Aferdita Kabashi, owed $8,939.50. filed with the Securities and Exchange Feb. 19 at $82.80, in a transaction worth Companies that would like to have details Commission by executives and major $2,483,898. He now directly holds Companies that would like to have details of their recent transactions appear in these shareholders. Listings are in order of 760,492 shares. Ⅲ of recent moves published should submit GOVERNMENT CONTRACT listings should email descriptions following descriptions following this format to OPPORTUNITIES this format to cnyb-research@ [email protected], crainsnewyork.com, with “Real estate with “Company Moves” in the subject Following are selected contract transaction” in the subject line, or enter DEALS ROUNDUP line. opportunities recently announced by New them online at crainsnewyork.com/ York City agencies.To learn how to sell submitadeal. Deals are listed in order of TRANSACTION SIZE ● Almond Tribeca goods and services to city government, visit square footage. TARGET/SELLERS (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE 186 Franklin St. www.nyc.gov/selltonyc. For a searchable The oyster bar opened in TriBeCa. It database of current procurement notices, COMMERCIAL Salix Pharmaceuticals Ltd./ $13,306.8 Valeant Pharmaceuticals SB M&A ● Fidelity Management & Research International offers an extensive small-plates menu visit www.nyc.gov/cityrecord. Listings are Bank Leumi signed a long-term lease Co.; Franklin Resources Inc.; as well as main dishes like herb-basted alphabetical by category and department. for 59,500 square feet at 350 Madison HealthCor Management (Manhattan); monkfish and lamb neck Sephardic Ave. The Israel-based financial-services Paulson & Co. (Manhattan); style. This is the third Almond CONSTRUCTION SERVICES firm will take up floors three, four and Visium Asset Management (Manhattan) ● location, the other two being in Department of Design and Construction six at the 400,000-square-foot building. Polypore International Inc./ $3,231.5 ESM Holdings Corp. SB M&A the Flatiron district and Seeks competitive sealed bids by 11 a.m. The exact length of the lease was Capital World Investors; Bridgehampton, L.I. on March 19 for the construction of undisclosed. The bank was represented Warburg Pincus (Manhattan) accelerated water-main replacement and by Brian Gell, Joan Meixner and Brett Home Loan Servicing $1,296.1 New Residential Investment SB M&A ● Equinox sewer rehabilitation and replacement in Shannon of CBRE. The landlord, RFR Solutions Ltd./Mangrove Partners Corp. (Manhattan) 225 Liberty St. the Bronx. Bid documents are available Realty, was represented in-house by (Manhattan); NFJ Investment Group; The fitness chain opened in the at nyc.gov/buildnyc for a $35 deposit by Oliver Katcher, as well as Diana SSgA Funds Management Inc.; Brookfield Place complex in lower company check or money order. To Biasotti, Alexander Chudnoff, Mitchell Wellington Management Co. Manhattan. The 35,000-square-foot make inquiries, contact Emmanuel Konsker, Matt Polhemus and Dan Emulex Corp./ $725.9 Avago Technologies Wireless SB M&A club offers classes for yoga, Pilates and Charles at (718) 391-2200 or Turkewitz of JLL. The asking rents in Elliott Management Corp. (U.S.A.) Manufacturing Inc. boxing in addition to personal training. [email protected]. the building range from $60 to $85 per (Manhattan); Setanta Asset Management Ltd.; Equinox has more than 20 locations in square foot. Starboard Value (Manhattan) the city. Seeks competitive sealed bids by 11 a.m. on March 24 for Fulton Street ● TAP Electrical Consulting Service A Class-A 599,664- $183.0 Epic Apollo SB M&A ● Friedman’s Lunch square-foot, three-building improvements in Brooklyn. Bid inked a 6,000-square-foot lease for a office campus in Phoenix/ 450 10th Ave. documents are available at field office at the 12-story 116 Nassau American Realty Capital Properties The purveyor of homemade comfort nyc.gov/buildnyc for a $35 deposit by St. The Long Island-based firm wanted Inc. (Manhattan) food opened its third Manhattan company check or money order. To an office close to its Manhattan projects. Selected deals announced for the week ended Feb. 26 involving companies in metro New York. location. The menu features matzo ball make inquiries, contact Emmanuel The length of the lease was undisclosed. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing soups, fish tacos and an Asian chopped Charles at (718) 391-2200 or TAP was represented by Jesse Topal and shares of a company without the participation of a financial buyer. source: capitaliq salad. [email protected]. Elliot Zlinger of Savitt Partners. The

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