Pre-K Plan Sets Off Citywide Land Grab Staten Island Ferries?
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GET READY FOR GROWING SEASON Community-supported agriculture takes root CRAIN’S® NEW YORK BUSINESS P. 27 VOL. XXX, NO. 9 WWW.CRAINSNEWYORK.COM MARCH 3-9, 2014 PRICE: $3.00 Mayor’s Office of Commission NYC & Pre-K plan Media and on the United Company Entertainment Nations Commission Office of sets off on Human Long-Term Rights Planning Landmarks Department Department citywide Preservation of Cultural of Consumer Commission Affairs Affairs Mayor’s Office of Office for Environmental People With land grab Remediation Disabilities Board of Mayor’s Standards Office of and Veterans’ FDNY* Demand for suitable Appeals Affairs Taxi & Department space for thousands Limousine of Information Commission Technology of 4-year-olds sends Hudson Public Yards Office of Design Emergency prices to new records Development Commission Corp. Management* BY JOE ANUTA Department Department of Finance of Buildings Department A prekindergarten land rush is sweep- Department ing the city, touched off largely by of of Parks Department Probation and of Sanitation* Mayor Bill de Blasio’s plan to educate Recreation 53,000 New York 4-year-olds as soon Commission Criminal as September, and the need to find on Women’s Justice Issues Coordinator space for all of them. Mayor’s School operators are scrambling to Office of Business Department Integrity house their programs in so-called of Correction Environmental Coordination Commission community-facility spaces: typically ground- and second-floors that devel- opers must set aside for such public *Temporary appointment uses as senior centers or medical clin- ics in return for city permission to build larger towers than zoning would normally allow. It’s a sliver of the overall real estate market, and one where space leases for The Holes See PRE-K on Page 24 Two months into his mayoralty, Bill de Blasio has yet to fill dozens Staten of vacancies, irking business leaders Island BY ANDREW J. HAWKINS ferries? In the final weeks of the Bloomberg administration, a coalition of Times Square advertisers sought a meeting with the city’s finance commissioner, hoping to avoid a retroactive tax on their towering light displays. But the Wheel, outlets spur commissioner was expected to be quickly replaced when Mayor Bill de Bla- sio took office. So the advertisers decided to wait. operators to add new They are still waiting. routes to the borough Two months into his administration—and more than 100 days since his landslide victory in November—Mr. de Blasio has yet to replace the finance BY LISA FICKENSCHER commissioner, Beth Goldman. In fact, he has named only about two-thirds of the roughly 90 commissioners, chairmen, office heads and agency chiefs Two major development projects on who oversee the municipal workforce of 271,000. See DE BLASIO on Page 23 Staten Island—the New York Wheel and Empire Outlets—have the city’s getty images ferry operators drawing up plans to transport millions of visitors a year to the borough that has been served for a 09 REPORT REAL ESTATE 5 half-century exclusively by one ferry. Businesses pursue a lofty ideal; JPMorgan If the developers of those megapro- jects are right, and some 6 million an- exec becomes the go-to lender P. 11 nual visitors begin flocking to sleepy Staten Island in two years—when the THE LIST Top Manhattan office leases P. 14 attractions are expected to be complet- NEWSPAPER See FERRY on Page 23 71486 01068 0 MANAGING EDITOR’S NOTE My Monroe St. FYICRAINSNEWYORK.COM The Us vs.Them mentality is alive and well in New York. But not on Chase moves workers my little block on the edge of gentrifying Brooklyn, which to B’klyn, slims branches surprises me given what I’m oodbye, downtown Manhattan; hearing from Mayor Bill de Blasio hello, downtown Brooklyn. ¶ and Spike Lee. Shortly after I JPMorgan Chase & Co. is moved to Bed-Stuy six months G Jeremy Smerd reportedly transferring about 2,000 ago, a flier on my stoop invited me employees who currently work at the to the Monroe Street block financial district’s 1 Chase Manhattan association meeting. Of the dozen folks who showed Plaza to Brooklyn’s MetroTech Center. up at the church around the corner, four of us had The reason for the move across the East moved in during the summer. Young and white, we River is simple enough: The bank is trying newscom were keenly aware that we were the new kids on the to cut costs. Last year, Chase piled up $3.7 billion in occupancy expenses—$200 million less than it block. Still, we were welcomed with open arms spent in 2012, but still a hefty amount. With Chase facing continued declines in its mortgage (having paid the $20 membership fee) and told that business and billions more in legal settlements, every penny saved on rent is truly a penny earned. ¶ if we had any reason to call the police, we should In 2013, the bank sold its namesake 60-story tower in lower Manhattan to Shanghai-based Fosun mention the block association. “Our block never has International for $725 million, and it is already a big tenant at MetroTech,which is also home to any trouble,” the association president, Ray, said. “So financial firms such as Goldman Sachs and Morgan Stanley. ¶ Also last week, Chase said it would if you call, they’ll know something’s up.”The stop adding branches to its 5,600-strong network, and that future branches would be up to 40% association guards against threats and fills in gaps in smaller than current ones. —aaron elstein services. When garbage piled up in front of a vacant house, complaints forced the absentee landlord to PAID SICK LEAVE EXPANDS. The popular characters such as Dare- TRENDY IPO. HOORAY! get his act together. If an elderly resident is in need, City Council voted to expand the devil and Iron Fist. … paid-sick-leave law. Businesses Retailer J. Crew Group Inc. is in KNISHES ARE BACK! Gabila Knishes members step up. During Halloween, trick-or-treat with more than five employees, talks with banks to file for an initial resumed production after a fire hit its tables lined the street. In the spring, we will plant down from the previous version’s public offering later in 2014, after Long Island factory five months ago. flowers in the tree pits. My neighbors tell me that, 20, will be required to provide paid just three years as a privately held sick leave starting April 1. The bill company.With 451 stores and $2.4 like most New Yorkers, they have mixed feelings included a number of small conces- billion in revenue this year, the about gentrification. But they don’t hold them sions, but some businesses re- Manhattan-based firm could be against me. I consider myself fortunate to have mained concerned about its effect. valued at as much as $5 billion. … Under the expanded law, an addi- YASSKY DRIVES INTO LAW GIG. For- neighbors who want to leave the block better than tional 355,000 workers will be cov- mer city Taxi & Limousine Com- they found it. And, yes, people are leaving. Some ered. It will be the first legislation missioner David Yassky has been forced out, others cashing out. One neighbor signed by Mayor Bill de Blasio,who tapped as law dean for Pace Univer- recently sold her house for more than $1 million. She campaigned on the sity. During his OY VEY! issue. … BLACK- rejoiced at the foot of my stoop. I was walking to time heading the VENDORS THAT SELL STONE SEWS UP ‘Have you seen agency, the former MILK to the city’s work. She now was retiring. VERSACE DEAL. Ver- City Council mem- Department of Fort Greene Education may have sace sold a 20% ber introduced the illegally engaged in stake to private- Park in the Taxi of Tomorrow, collusion to pump up THIS WEEK IN CRAIN’S equity shop Black- morning? the new-model car profits, an audit stone Group for for the city’s fleet, found. $287 million, valu- and rolled out istockphoto IN THE BOROUGHS-------------------------- 3 It’s like the ing the Italian fash- green-colored cabs IN THE MARKETS----------------------------------4 ion house at $1.4 Westminster for underserved billion. The invest- areas. … HALFWAY Council said it will also have no of- THE INSIDER -----------------------------------------------6 Dog Show. ment will go toward THERE. Some ficial presence at the event because OPINION-------------------------------------------------------------8 expanding its retail There’s 20,000 88,000 New York- of the parade organizer’s ban on gay networks and prod- ers enrolled in and lesbian groups identifying GREG DAVID ------------------------------------------------ 9 ucts in emerging dogs running health insurance themselves while marching. At REPORT: REAL ESTATE-------------11 and existing mar- around’ plans through the least one city official will be there, kets. … ACTION! —Filmmaker Spike Lee, state exchange in though: NYPD Commissioner Bill THE LIST ---------------------------------------------------------14 Walt Disney Co. complaining about the past few weeks, Bratton said he will march. … REAL ESTATE DEALS-------------------16 will create about gentrification last week bringing the BOTTOMLESS BRUNCHES. A five- 3,000 jobs in the at a Pratt Institute statewide total to year-old New York state law resur- GOTHAM GIGS CLASSIFIEDS ----------------------------------------- 20 Big Apple when it lecture 501,000—nearly faced this week that prohibits “sell- Gretchen Witt fights NEW YORK, NEW YORK ----------25 begins filming four half of the state’s ing, serving, delivering or offering” pediatric cancers, one bake live-action series for Netflix based goal of 1.1 million by 2016. … unlimited alcoholic drinks. The sale at a time. P. 7 SOURCE BREAKFAST-----------------26 on Marvel comic-book heroes.The TROUBLE FOR ST.