Executives Exit Port Authority

20130923-NEWS--0001-NAT-CCI-CN_-- 9/20/2013 7:13 PM Page 1

IN THE BOROUGHS BROOKLYN Distillery boom lifts her spirits CRAIN’S® NEW YORK BUSINESS PAGE 3

VOL. XXIX, NO. 38 WWW.CRAINSNEWYORK.COM SEPTEMBER 23-29, 2013 PRICE: $3.00 Executives Capturing the exit Port Authority Seggermans Agency faces brain drain as World Trade They lived lives of comfort and success until a secret Center work ends $12 million inheritance put the IRS on the case and budget tightens

BY AARON ELSTEIN BY DANIEL GEIGER

In the early morning hours of June 15, 2001, a wealthy New Yorker The Port Authority of New York and named Suzanne Seggerman emailed her brother Henry to discuss New Jersey, long a magnet for ambi- their inheritance.Their father had died the month before and tious transportation, construction, engineering and real estate executives left behind the spoils of his Wall Street career, including eager to ply their craft on a grand scale, $12 million parked in a secret bank account in Switzerland. is experiencing a high-level brain “So I met with 2 lawyers yesterday to talk about the drain. beef,” Ms. Seggerman wrote, using what federal With its largest project,the $15 billion rebuilding of the World Trade prosecutors say was a code word for the secret money. Center complex, winding down and “They are very interested in going by the book.” no huge developments on the horizon, Henry Seggerman replied: “What do your guys key executives at the bistate agency are decamping in an exodus only wors- mean by ‘by the book?’ ” ened by a recent audit that triggered He observed that “another interpretation of big changes in its management and ‘by the book’ would entail each of us paying salary structures. 750 lbs. to the FDA, plus more each year if The most recent departure: Philippe Visser, who headed leasing the beef grows mold.” and many other major business negoti- That was code, too. It meant the ations for the WTC site for the past Seggermans and their siblings two years. He announced last Tuesday that he will jump to the Related Cos., would each be on the hook for where he will help oversee the develop- $750,000 in taxes to the IRS, er’s $15 billion Hudson Yards project. and maybe more, if they Executives at public agencies like reported the existence of the Port Authority have long moved the money they inherited. on to more lucrative posts in the pri- ALL IN THE FAMILY vate sector. But the scale of the defec- Ultimately, tions from the agency’s upper ranks in See CAPTURING on Page 30 The Seggerman siblings have pleaded guilty to tax- recent months exceed its norm. evasion charges. Each faces 11 years in prison. In May, Susan Baer, the Port Au- HARRY SEGGERMAN thority’s director of aviation, an- The patriarch put $12 million of his Wall nounced her retirement from the Street fortune into a secret Swiss bank See PORT AUTHORITY on Page 31 account. The tax troubles of his children, below, began when he died in 2001. HENRY SEGGERMAN, 60 The eldest son was a movie producer who brought Crocodile Dundee to America before running his father’s hedge-fund REPORT business. REAL ESTATE YVONNE SEGGERMAN, 58 Described as smart and hardworking, Retail rents rocket on she ran a playhouse in Rhode Island for a decade, and now works on an organic back of tourist boom farm. PAGE 17 SUZANNE SEGGERMAN, 51 She made documentaries with Ken Burns Banks band together before becoming an advocate of video games for social change. “I have always PAGE 17 worked in nonprofits,” she told a judge. EDMUND JOHN SEGGERMAN, 50 A former aide to former Sens. John and THE LIST Lincoln Chafee. He’s now a real estate agent in the D.C. area. The youngest NY’s largest REITs child, he goes by John. PAGE 20 NEWSPAPER istockphoto 20130923-NEWS--0002-NAT-CCI-CN_-- 9/20/2013 7:14 PM Page 1

EDITOR’S NOTE

Journalism 101 FYICRAINSNEWYORK.COM

I spent the first part of last week grumbling about the state of the journalism business with fellow Bernanke’s about-face editors at my company’s annual boosts Wall Street executive meeting near our corporate headquarters in Detroit. n one of the greatest bait-and- I know: Editors grumbling. Not switches ever perpetrated by a exactly news. And it’s not as if the central banker, Federal Reserve Glenn Coleman I editors at Crain Communications Chairman Ben Bernanke (right) faked have it bad.The family that owns out just about everyone last week when my near-100-year-old company has no corporate he maintained the Fed’s policy of debt and holds significant cash reserves for major acquiring $85 billion worth of bonds investments in technology and more. Still, the media every month to pump money into the biz can be as tough a place to turn a profit as any economy. Most of Wall Street had been bloombergnews these days. And what some competitors are doing sure Mr. Bernanke would dial down on out there to turn a buck—well, it’s like they have no quantitative easing since the chairman hinted in May that the economy had recovered enough gag reflex. I heard so many lurid examples of that he might “taper” the bond purchases. cheapened standards that I returned to my office But the Fed decided at a Wednesday meeting that it would continue full throttle, and the market Wednesday morning exhausted, certain that much— reaction was dramatic. Bond prices soared, depressing yields, and the dollar dropped in value as if not most—of America’s media business is trapped investors sought higher-returning investments overseas. Stocks jumped, with the Dow Jones in a death spiral.Thankfully, waiting for me was a industrial average and Standard & Poor’s closing at record highs on Wednesday—an odd draft of Aaron Elstein’s article on the blue-blooded reaction considering Mr. Bernanke’s decision means he thinks the economy isn’t healthy enough Seggerman family,whose misadventures with secret to go without a regular booster shot,even though economists say the Great Recession officially Swiss bank accounts arguably makes them New ended back in June 2009. Of course, he could always change his mind.Tune in to the next Fed York’s first family of tax evasion. It is no exaggeration meeting for more on the greatest taper caper ever put on paper. —aaron elstein to say that I felt alive again. Aaron’s enterprising reporting and fine eye for detail produced a fascinating story that readers of Crain’s New York JPMORGAN RACKS UP FINES. JPMor- Edison Inc. CEO Kevin Burke will gan Chase & Co. agreed to pay reg- retire at the end of the year. The 62- HOORAY! Business will be talking about for years. It also ulators $920 million to settle some of year-old led the utility company reminded me of a simple, powerful thing about the the U.S. and British probes into its since 2005 and through Superstorm FOR THE media business: All we at Crain’s—or any journalism “London whale” loss. The nation’s Sandy. In April, Mr. Burke, along SECOND YEAR in a row, Miss outlet—must do first and foremost is break the news largest bank also admitted violating with three other executives, had to New York was federal securities laws and failing to return his 2012 bonus while Con Ed crowned Miss and tell the tales that no one else offers, in whatever oversee trading that led to the $6.2 was being investigated for its re- America. Nina medium our customers want. All the rest, with Davuluri was the billion loss. Several authorities, in- sponse to Sandy. Mr. Burke will be pageant’s first sensible management, should work itself out. cluding the Securities and Exchange replaced by John McAvoy, who leads Indian-American Commission, are still investigating the utility’s Orange and Rockland winner. the matter. Separately,the New York counties division.… STOP-AND-FRISK bank was ordered to pay $389 mil- SETBACK. A federal judge declined THIS WEEK IN CRAIN’S lion in refunds and fines for billing the city’s request to stay her own OY VEY! credit-card customers for identity- ruling that the NYPD needs an in- IN THE BOROUGHS------3 SECONDS after theft protection they dependent monitor Ms. Davuluri, 24, never got. … A to oversee its contro- did her victory wave, IN THE MARKETS------4 ‘We have to GLOSSY LOWER EAST versial stop-and- some people THE INSIDER ------6 tweeted racist SIDE. After decades find a new frisk tactics.Now the comments. of contention,the va- SMALL BUSINESS------11 balance’ city must wait for its cant Seward Park ur- appeal to be heard, newscom OPINION ------12 ban-renewal area on —Pope Francis, in his first which isn’t likely to extensive interview since GREG DAVID------13 the Lower East Side occur until after is finally slated to be- taking the helm of the Mayor Michael ance and charge lower fees for partic- REPORT: REAL ESTATE------17 come a glassy, six- papacy, on the tone and Bloomberg, the ipants, resulting in a funding direction of the embattled REAL ESTATE DEALS------19 acre mixed-use com- Roman Catholic Church policy’s biggest shortfall. As of Sept. 19, the parade’s plex. The city chose cheerleader, leaves Kickstarter campaign had raised CLASSIFIEDS ------24 L&M Development office. … TRICK-OR- $5,600. … GUNMAN HAILED FROM GOTHAM GIGS NEW YORK, NEW YORK ------33 Partners, BFC Partners,Taconic In- TREATING FOR CASH. The popular QUEENS. Aaron Alexis, a former Executive chef Alfred Portale vestment Partners and Grand St. Village Halloween Parade turned to sailor,shot and killed 12 people at the SOURCE LUNCH------34 keeps Gotham Bar and Grill Settlement to build Essex Crossing, the Internet to raise the $50,000 it Washington Navy Yard. The 34- on top. P. 8 OUT AND ABOUT ------35 a project that will feature an Andy needs to produce this year’s costume year-old’s mother, who resides in Warhol museum, housing, retail, of- bash. Superstorm Sandy forced the Bedford-Stuyvesant, Brooklyn, CORRECTIONS fices and a movie theater. The win- annual parade to cancel the 2012 rev- apologized for her son’s actions. Mr. Craig Casey, Carlos Ferriera and Brian Moore were promoted at accounting firm Grant ning team will pay the city $180 mil- elry,marking the first year skipped in Alexis had a history of mental illness Thornton and will continue in their previous jobs. Mr. Casey will remain as practice lion on top of development costs. … its four-decade history.This year,the and was dishonorably discharged leader of litigation and dispute services, and Messrs. Ferriera and Moore will continue NEW CON ED HONCHO. Consolidated parade had to buy cancellation insur- from the Navy. —amanda fung as partners. This information was misstated in the Sept. 9 Executive Moves. Alethea Pratt joined the Children’s Aid Society as chief information officer. Her name was misspelled in the Aug. 26 Executive Moves.

vol.xxix,no.38,september 23,2013—Crain’s New York Business (issn 8756-789x) is published STORIES TO WATCH THIS WEEK weekly, except for double issues the weeks of July Fourth, July 29, Aug. 12, Labor Day and Christmas, by Crain Communications Inc., 711 Third Ave., New York, NY 10017.Periodicals postage paid at New York, N.Y., and additional mailing offices. Postmaster: Send address Sept. 23: City Sept. 26: Sept. 27-29: Sept. 30: changes to: Crain’s New York Business,Circulation Department,1155 Gratiot Avenue, Detroit, Planning expected Tennessee Annual Dumbo Kickstarter MI 48207-2912. for subscriber service: Call (877) 824-9379.Fax (313) 446-6777.$3.00 a copy, $99.95 one to vote on East Williams’ The Arts Festival deadline for NYC year, $179.95 two years. (GST No. 13676-0444-RT) ©Entire contents copyright 2013 by Crain Communications Inc. All rights reserved. Elmhurst, Queens, Glass Menagerie Opera to raise rezoning returns to B’way. $1 million

2 | Crain’s New York Business | September 23, 2013 20130923-NEWS--0003-NAT-CCI-CN_-- 9/20/2013 7:15 PM Page 1

IN THE BOROUGHS A bird in the hand ... BROOKLYN ... is worth about Distillers

$1B to Fred Wilson, ORACLE OF UNION SQUARE: Fred Wilson bet big on Twitter put area in the VC wiz behind and Tumblr, knowing consumers NYC’s tech revival would love their technologies. high spirits BY MATTHEW FLAMM Waterfront enjoys When Twitter completes its initial public offering this year or next,there will be a boom in small many winners cashing in their chips. booze makers But for Union Square Ventures’ Fred Wilson, who has champi- oned Twitter since 2007, the IPO BY ADRIANNE PASQUARELLI is more than a great return on a bet. It’s a crowning moment in his When Sarah Ludington and her hus- second act. band,Daric Schlesselman,were look- The 52-year-old venture capi- ing for a place to house their new busi- talist was a leading player in New ness two years ago,they had some very York’s dot-com-era boom—and specific requirements. The space bust. More than a decade later, he’s now needed to be bigger than 2,500 square the face of New York’s tech revival, ap- feet and have ceilings at least 12 feet pearing at conferences and publishing high.Most important,it needed to be daily musings on his must-read blog. in an area specifically zoned to permit The IPO plans put an added shine “potentially noxious uses.” on Union Square’s reputation as one of In the end, they found a place the top VC firms in the country—a that not only fit the bill perfectly, it stature Mr. Wilson has worked dili- offered one other plus—an address gently to earn since co-founding the that is four blocks from their home company in 2003.Back then,New York near the south Brooklyn waterfront was a relative backwater in tech. Silicon in Red Hook, a once largely indus- Valley VCs were the unquestioned trial neighborhood that has drawn leaders, and Mr. Wilson had only re- a growing number of hipsters in recently worked through failures—most cent years. There, to their delight, memorably Kozmo.com—that effec- the couple had no problem leasing tively brought down his previous firm, a 6,000-square-foot warehouse as Flatiron Partners. the home for Van Brunt Stillhouse, Now he is on a roll. Union Square’s their brand-new maker of whiskey, early investment in the transformative rum and grappa. communications platform could trans- “There is a lot of industrial space late to a more than $1 billion payout, ac- out here that’s zoned for manufac- cording to The New York Times.Earlier turing alcohol,” said Ms. Luding- this year, two other Union Square- ton. “And it’s more affordable in See BIRD on Page 32 Brooklyn.”

buckennis, istockphoto See SPIRIT on Page 14

Behind de Blasio’s slogans, STATS AND THE CITY by Emily Laermer

GET YOUR MOTOR RUNNING: The latest data show car-dealer sales in the policy book has some holes New York City area topped $27.1 billion last year, up 12% from 2010.

a misunderstanding of how certain and his advisers,although a campaign 32,370 Relic of campaign’s city programs work and little expla- spokesman wouldn’t name them.Mr. AUTO-DEALERSHIP employees $3.67 early days targets tax nation of how he would pay for some de Blasio pitches ideas big and small: in the NYC area, including AVG. PRICE PER GALLON in NYC last of his more ambitious proposals. taxing the rich to expand early child- 9,711 in the five boroughs week, down 8% from a year ago but breaks, housing and At the same time, hood education;ending more than double that of a decade ago a real estate ‘reset’ the level of detail in Mr. city subsidies for devel- de Blasio’s booklet,One ‘This opers; even protecting $31,125 New York, Rising To- animal-loving seniors AVG. U.S. CAR PRICE in June, $1.58B NY STATE SALES TAXES BY ANDREW J. HAWKINS gether,has surprised actually in buildings with no- the second-highest level ever some political experts. pet policies. paid as a result of NYC area In his ascendant campaign for may- “This kind of long, invites His real estate and vehicle sales or,Bill de Blasio has pitched himself thoughtful thing is not economic-develop- as a tax-the-rich, close-the-in- something you would thought’ ment proposals are the come-gap, dyed-in-the-wool De- usually associate with a most unapologetically mocrat with an interracial family— winning campaign,” liberal. Following essentially as the liberal antidote to said Kenneth Sherrill, through on them could 3.4M incumbent Michael Bloomberg. a professor of political prove challenging for NYC DRIVER’S LICENSES Behind the public advocate’s cam- science at Hunter College. “Bullet Mr. de Blasio, according to former on file last year, only about paign slogans,though,are actual poli- points are something you would do. city officials, real estate executives Sources: Greater New York Automobile half of the city’s driving-age cies: They are laid out in a 74-page You wouldn’t do something that re- and political experts. Dealers Association, U.S. Energy population document released with little fanfare quires reading.” Some are based on less-than- Information Administration, TrueCar.com, NYS Dept. of Motor Vehicles, U.S. Census Bureau in June, when Mr. de Blasio was He added, “This actually invites successful Bloomberg-era policies. istockphoto mired in fourth place and struggling thought.” Others will likely result in legal to get noticed. Critics, however, say The policy proposals were written challenges from the business com- ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY there are significant gaps in the plans, over several weeks by Mr. de Blasio See DE BLASIO on Page 32

September 23, 2013 | Crain’s New York Business | 3 20130923-NEWS--0004-NAT-CCI-CN_-- 9/20/2013 7:16 PM Page 1 IN THE Financial-technology startups MARKETS roil banking’s status quo by Aaron Elstein

Silicon Alley, attracting investment financial tech this year than in the VC money pouring money and selling out conferences past five years, according to a recent in as companies look like Finovate, which took place ear- joint report by Accenture, the Part- lier this month in Manhattan. nership for New York City,the Fin- to upend longtime Using the Internet, mobile tech- Tech Innovation Lab and venture lending practices nology and data analysis, these tracker CB Insights. In 2012, in- financial-technology startups are vestors put nearly $2.5 billion into upending traditional models of financial-tech companies, 22% BY JUDITH MESSINA lending, saving and bill payment. more than in the previous year, and Some companies are com- in 2013 they are on track to Float Money offers interest-free peting with banks, using invest $2.7 billion. Since loans to consumers. Capital Access their technology to disrupt 2008, investors have de- AMOUNT$2.7B that

Network helps small businesses get longtime lending practices; bloombergnews investors are on ployed $9 billion in more working capital. And Socure combs others, like firms that help track to put into than 1,300 financial-tech George Soros Henry Kravis Paul Tudor Jones the Web to help banks and business- detect fraud, could be ac- financial-tech deals. es prevent fraud. quired by banks. Still oth- companies in “If you’re an investor,fi- None of these New York startups ers could be the target of 2013 nancial services is a massive is a bank, yet all are providing the big tech companies looking industry that hasn’t had kind of technology that is changing to get into the burgeoning industry. technological change,” said Anand Ads for funds may the way people and businesses save, These startups, for example, could Sanwal, CEO of CB Insights. invest and manage their money. enable consumers and small busi- When it comes to financial-tech These companies at the intersec- nesses to bypass banks, credit-card startups,New York is playing catch- lack mass appeal tion of finance and technology are companies and payday lenders to up to Silicon Valley. For years, among the leading-edge startups in meet their short-term needs. financial-tech firms developed what is perhaps the hottest corner of More venture money is chasing See FIN-TECH on Page 27 oming soon to a flat screen near you might be advertisements from the likes of George Soros saying he’s bullish on America, or that when Henry Kravis

CohnReznick is an independent FRKQUH]QLFNFRPWKLQN C speaks, people listen.That’s because Monday marks the day member of Nexia International when decades-old restrictions preventing hedge funds, private-equity and venture-capital firms from marketing themselves to the masses are lifted. “Funds now have the opportunity to tell their stories as well as underscore their strategies, expertise and returns as the markets recover,” said Davia Temin,a former top marketing executive at Citigroup and GE Capital. )RUJDPHFKDQJLQJDGYLFH This could be great news for the market opportunity,” said Dawn LQDQHYHUFKDQJLQJZRUOG Madison Avenue crowd, because Lesh,a marketing professor at New banks, credit-card companies and York University. %XVLQHVVLVDOZD\VLQÁX[7KDW·VZK\IRUGHFDGHVVXFFHVVIXO mutual funds have cut way back on Second, and more important, FRPSDQLHVKDYHDVNHG´:KDWGRHV&RKQ5H]QLFNWKLQN?” ads since the financial crisis. They advertising could deprive hedge &RKQ5H]QLFN·VH[SHUWLVHLQVLJKWDQGDGYLFHFDQKHOS\RX spent $7.9 billion touting their fi- funds and private-equity funds of nancial services last year, or 18% perhaps their most alluring feature: PRYHDKHDGQRZDQGLQWKHIXWXUH less than in 2008, according to the sense that they’re a club most CohnReznick. Where forward thinking creates results. Kantar Media, and cut another 6% people can’t join. That aura of ex- in the first half of this year. clusivity is a big reason why the Now add to the mix the 10,000 firms can charge hefty fees of 2% of active hedge funds that control $2.4 assets and 20% of investment gains, trillion in capital and the 3,000 even if their after-cost performance U.S.-based private-equity and over time isn’t much (or at all) bet- venture-capital shops that manage ter than a Vanguard index fund. trillions more. The advertising op- “You don’t want to be seen as portunity seems bigger than Paul pedestrian,” said Rich Myers,group Tudor Jones’ wallet. head of financial communications Or maybe not.There are still re- in New York for PR giant Edelman. strictions on exactly who hedge Still, let’s assume that some funds and private-equity firms can hedge fund or private-equity fund market themselves to. The Securi- wants to position itself as another ties and Exchange Commission says Merrill Lynch—a mass-market in- firms have to take “reasonable vestment firm with a high-end steps” to ensure they are pitching touch. A marketing pitch saying What does themselves only to households with the firm offers access to invest- a net worth of at least $1 million, ments that people couldn’t touch CohnReznick excluding the value of their resi- before could be appealing. Is any- t h i n k ? dence. That certainly shrinks the one actively working to craft such a size of their potential audience. message? “Not that I know of,” Mr. “I don’t see this as a mass- Myers said.

ESTIMATED DIVIDENDS to be paid annually by The $3.2M New York Times Co. to its largest shareholder, Carlos Slim Helú (right). The Times Co. reinstated its quarterly dividend last week after halting it in Joe Torre, National spokesperson early 2009. Chairman Arthur Sulzberger Jr. is in line for $1.5 million in payments, according to Crain’s estimates. A Times Co. spokeswoman declined to comment.

4 | Crain’s New York Business | September 23, 2013 Switch today and get unlimited transactions so you never pay extra for doing more business. Visit your local branch or capitalonebank.com/sparkbusiness.

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CN016099.indd 1 9/13/13 2:06 PM 20130923-NEWS--0006-NAT-CCI-CN_-- 9/20/2013 7:17 PM Page 1 THE INSIDER by Chris Bragg We congratulate our client Handicapping council speaker race or months, the race for the second-most-powerful city post—City Council speaker—was a sleepy affair Finvolving just a few council members. But since the Democratic primary election, it has metastasized, with seemingly as many candidates as votes needed to win the position. on closing its $150,000,000 Christine Quinn,who is term-limited,will vacate her seat at the end of this year. By then, one of the 51 council credit facility from members will likely have lined up the 26 or more colleagues’ votes to succeed her. “The fantasy draft is over, and you’ve finally got all the players on the field now,” one source said.

Race will play a role in the out- G James Vacca: The come. The next mayor and city Bronx councilman comptroller will likely be white has been emerging men, and if white state Sen. Daniel from under the to fund its innovative Squadron defeats Councilwoman radar. He has the Letitia James in the Oct.1 runoff for same problem as U.S. Single-Family Rental Program public advocate, the council will Mr. Weprin, Mr. feel pressure to elect its first minor- James Vacca Garodnick and ity speaker. Another factor is the others if the city- 11-member Progressive Caucus, wide offices are won by white men. which expects to grow in number G Jimmy Van Bramer: after backing six Democratic pri- Yet another white mary winners.But members might male, the Queens vote with their Democratic county councilman has the leaders, the traditional horse- advantage of being traders in council speaker races. aligned with the The contenders for council Progressive Caucus speaker are all Democrats: J. Van Bramer and the Queens G Mark Weprin: The chances of the Democratic Party. well-liked son of a G Rosie Mendez: A former Assembly Latina from Man- speaker hinge on hattan would bal- Queens Demo- ance the city’s lead- cratic leader Joseph ership ethnically Want more info on our donedeals? Scan the QR Code with your smart phone. Crowley.In the last and geographically. two speaker’s But she has not Mark Weprin races, the county Rosie Mendez publicly acknowl- organization has edged an interest settled for plum committee in running. assignments in exchange for G Vincent Gentile: electing Manhattanites Gifford The veteran Miller and Ms. Quinn. Brooklyn council- G Dan Garodnick: The Manhattan man has only one moderate’s inde- term left, making pendence from him more attrac- the Queens, tive to colleagues Brooklyn and Vincent Gentile who envision run- Bronx Democratic ning for speaker in county machines 2017. But the former state senator could endear him has not been especially powerful Dan Garodnick to the Progressive on the council. Caucus. Mr. Gar- G Melissa Mark-Viveri- odnick could be rewarded for to: A speaker candi- ditching the comptroller’s race to date for at least a clear a path for Scott Stringer. year, she co-chairs G Annabel Palma: the Progressive The Bronx law- Caucus and is Lati- maker is a possible na, which would compromise M.Mark-Viverito diversify the city- minority candi- wide leadership date, but insiders even if the black Ms. James Annabel Palma wonder how hard becomes public advocate. But even she will pursue the some progressives say she’s not post. popular enough with colleagues. G Jumaane Williams: G Inez Dickens: After The Progressive jockeying for sup- Caucus member port for many from Brooklyn, a months, Ms. Dick- key voice in ens saw her hopes reforming stop- fade when Bill de and-frisk, is popu- Blasio became the J. Williams lar with col- Inez Dickens mayoral front- leagues, but his runner and the Pro- conservative views on abortion gressive Caucus gained strength. and gay marriage are not. Neither supports her candidacy. Protecting people’s savings is Alice’s business. We’re proud she’s made it our business, too.

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CN016100.indd 1 9/19/13 12:29 PM 20130923-NEWS--0008-NAT-CCI-CN_-- 9/19/2013 5:22 PM Page 1

BUSINESS $61K Average starting salary for Cooper Union graduates, the highest in the city PEOPLE Source: PayScale

EXECUTIVE MOVES

Cerami: James Casterton,38,joined the acoustic, audiovisual and STOKED TOQUE: Alfred technology design Portale and the Gotham consulting company Bar and Grill have won as chief financial outstanding chef and officer. He was restaurant awards from the previously chief James Beard Foundation. financial officer at WSP. Outbrain: Jeff Davison,49,joined the content discovery platform as chief financial officer, a newly created position. He was previously senior vice president, chief financial officer and treasurer at RightNow Technologies Inc. Integra Realty Resources: Andrew Ludwig,52,joined the real estate firm as chief marketing officer, a newly created position. He was previously a consultant in wealth-management technology and broker-dealer services at JPMorgan Chase. Rain: Will Hall,35,joined the advertising and marketing agency as executive creative director, a newly created position. He was previously executive creative director at MRY. Bill Chamness,39,joined as vice president of strategy, a newly created position. He was previously vice president of strategy at Sarkissian Mason. Thornton Tomasetti: Robert Honig,46, was promoted to principal at the engineering firm. He was previously general counsel. Steve Zuo,47,was promoted to principal. He was previously vice

buck ennis president. Khaled Othman,47, was promoted to GOTHAM GIGS vice president. He was previously a senior associate. Clearbrook Global Advisors: Leslie Billet,57,joined the investment consulting firm as managing director. Talk about a Gotham gig She was previously senior vice president at Gallagher Fiduciary. Rose Associates: Charlotte Sturgis,34, joined the real estate management Chef Alfred Portale enjoys three decades at the top firm as managing director of pre- construction. She was previously Alfred Portale has stayed at the top of New York’s Mr. Portale. He still angles for more awards, development manager at Trinity Works. ‘I’m culinary scene for nearly three decades without including James Beard nominations for the Hammond Hanlon Camp: M. Craig succumbing to the common pitfalls that beset restaurant’s wine and dessert programs. At 59, Kornett,46,joined the strategic committed advisory and investment banking firm most executive-chef enterprises: mismanagement, Gotham’s chef/partner has no plans to go as managing director. He was to staying reinventions gone awry, complacency and empire anywhere, having just renewed the Greenwich previously an investment banker at Barclays Capital. expansion. ¶ Mr. Portale has been the steady hand Village eatery’s lease for 10 years.“I’m committed James Molloy,46,joined as principal. here,’ in the kitchen of the 165-seat Gotham Bar and to staying here,” he said. ¶ But his days on the He was previously co-head of the Grill since 1985, just one year after it opened.The production line boning fish, making sauces and health care group at Barclays Capital. said Mr. Campus Evolution new-American restaurant is the only one to plating dishes are over. Spending time with his Villages: Robin Portale receive five consecutive three-star reviews from family, raising two daughters, is a chief reason he Raines, 51, joined the real estate of his The New York Times—including one last year.The has stuck with one restaurant for most of his company as prestigious James Beard Foundation also has career. He has made one exception: In 2008, he managing director, a Village newly created bestowed outstanding chef and restaurant awards. opened a Gotham Steak in Miami Beach. On position. She was eatery Two years ago, he reached another milestone, most weekends, he makes furniture in his wood previously serving food to a U.S. president, when Barack shop for his new home in Litchfield County, managing director of asset management at Kayne Anderson Obama attended a fundraiser at the restaurant. ¶ Conn. “I’m finishing up a desk for my New York Realty Advisors. “The more accolades we receive,the higher the apartment,” he said. “Instead of buying things for Lincoln Square Business Improvement District: Christopher Matousek,42, expectation from the diner, and that is what was the house, I’ll say,‘No, I’ll make that.’ It’s how I joined the nonprofit as director of driving me in the beginning and even now,” said decompress.” —lisa fickenscher See EXECUTIVE MOVES on Page 10

8 | Crain’s New York Business | September 23, 2013

20130923-NEWS--0010-NAT-CCI-CN_-- 9/19/2013 5:21 PM Page 1

CORPORATE LADDER EXECUTIVE MOVES

Continued from Page 8 OUT OF HER GARDEN, BACK INTO THE FIELD operations. He was previously a CHRISTINE RUPPERT, 57, had been retired for nearly nine years when she decided to put her gardening aside and jump back into lieutenant in the operations division at the New York Police Department. her career as the new chief financial officer at the Manhattan-based Karlinsky law firm. Shen Milsom & Wilke: “My last job was director at the Financial Security Corp., analyzing major infrastructure projects across the U.S.—water and Georgine Ilesco,60, sewer, electric generation. I was at Standard & Poor’s back when the Denver International Airport was just a gleam in joined the consulting someone’s eye,” said Ms. Ruppert, who assessed the possibility of serious risks at the airport project. “I look at and technology design what could happen, take an optimistic projection, and I find out what will happen ‘if.’ ” firm as director of client Marty Karlinsky, founder and chief executive of the 14-month-old firm, said he found her background in quality relations, health care. control appealing. “We are trying to bring the kind of techniques, tools and analytics that accountants have long She was previously principal at HOK. been using to our litigation,” he said. “I am hoping she can get me there.” That means figuring out whether a Sudhakar Nagavalli, 60, lawsuit will be profitable before taking it on. “He would love for me to have a crystal ball and tell him what joined as director of medical equipment would happen six months, a year from now,” Ms. Ruppert said. planning. He was previously medical — EVA SAVIANO equipment planner at KEO International Consultants. DeVries Global: Ann Marie Almariei, 42, joined the communications agency as director of content and strategy, a newly created position. She was previously microcontent director at Vaynermedia. iAcquire: Anita Malik,37,joined the digital marketing agency as director of GET content operations, a newly created position. She previously founded BrideRush. Zurich in North America: Glen Curley,53, was promoted to head of health care professional liability and specialty products at the insurance agency. He ENERGY EFFICIENT was previously vice president and underwriting manager for its health care professional liability business, East AND START SAVING TODAY region. Movable Ink: Adam Stambleck,30,joined the email marketing platform as vice The Green Team can get your 5- to 75-unit building energy fi t. president of client experience, a newly created position. He was previously vice president of account management at Yesmail Interactive. Madison Square Garden Co.: Patrick Jones,35,joined the GET BIG sports and entertainment company as vice president of corporate REBATES hospitality. He was previously a vice on most high effi ciency light president at First Nationwide Title fi xtures in common areas Agency. Fox News Channel: Shepard Smith,49, GET was promoted to managing editor, breaking news, and chief news anchor. He was previously anchor of Studio B With Shepard Smith and The Fox Report. Marie Claire: Alexandra Brez,46,joined the magazine as managing editor. She UPTO was previously managing editor at Inc. GET magazine. Julia Felsenthal,29,joined as a senior editor. She was previously features editor at T:The New York Times Magazine. $20,000 Wanyi Jiang,30,was promoted to deputy $115 art director. She was previously associate when you install an for each thermostatic art director. energy management system Doremus: Van B. Tran,33,joined the radiator valve you install advertising agency as associate director, digital production. She was previously associate director of project management at DigitasLBi. Arkadium: David Hague,33,joined the casual-gaming company as general manager. He was previously studio manager at Gameloft. Frankfurt Kurnit Klein & Selz: Jeffrey Marks,56,joined the law firm as a partner, head of its tax group and member of its corporate and finance group and estate planning and administration group. He was ENERGY EFFICIENCY EXPERTS previously a partner at Fulbright & Jaworski. 1-877-870-6118 —eva saviano ©2013 Consolidated Edison Company Inc. of New Ad: York, Arnell Group conEd.com/GreenTeam

EXECUTIVE PROMOTIONS The fastest way to get an announcement into Crain’s is to submit online. Fill out the form SAVE BIG ON LIGHTING, HEATING AND COOLING UPGRADES. CALL TODAY FOR YOUR FREE ENERGY SURVEY. at www.crainsnewyork.com/section/ executive_moves. The Executive Moves column is also available online.

10 | Crain’s New York Business | September 23, 2013 20130923-NEWS--0011-NAT-CCI-CN_-- 9/20/2013 1:48 PM Page 1

SMALL BUSINESS Veterans find jobs program works

throughout the U.S. and Europe, it wars in Iraq and Afghanistan, Ms. But while clients generally pay New skills and group offered veterans the chance to join a Ross decided to step up. She found- perhaps 20% more to hire testers lo- placement help 13 five-week training program to teach ed the program—which is based out cally, it brings certain advantages. them quality assurance,or QA,soft- of her Manhattan headquarters and “You don’t have the problems of dif- vets overcome long ware testing and data mining,as well at donated space at Manhattan ferent time zones, the potential for as industry-specific knowledge, and Community College—in March communications problems,” said odds of finding a job to earn a salary while doing so. 2012. Although it can sometimes be Ms.Ross.What’s more,she said,the The 30-year-old Mr. Weis, who difficult to translate military skills to veterans exhibit an unusual degree BY ANNE FIELD didn’t know computer program- civilian work, she has avoided that of discipline. “If you call a meeting ming, applied and was accepted as problem by providing the veterans at 8 a.m., they’re here at 7:30,” Ms. hen Alex Weis one of 15 veterans taking part in the with marketable training. Ross said.For now,testers specialize returned to first session. Now, six months after in financial services or health care— Brooklyn in finishing his training, Mr. Weis, Camaraderie is key business areas that are heavily repre- buck ennis 2011 after five along with 12 comrades who com- QA testing is a career pathway sented among her clients. TRAINING MISSION: Entrepreneur Karen years in the U.S. pleted the training,have been placed that is vital to the success of any soft- The program’s secret sauce is not Ross helps vets learn computer skills. MarineW Corps, including about a in QA testing jobs at Manhattan- ware system and is in real demand, just teaching skills, but creating a year in Afghanistan, he figured he’d based EmblemHealth —a deliber- according to Jason Baptiste,CEO of feeling of group identity. It’s a con- finish his degree in accounting and ate choice on the part of Sharp to Onswipe, a 33-employee Web de- scious effort to mimic the sense of Office at EmblemHealth. The vet- then look for a job. keep the vets in a team. “This pro- velopment company in Manhattan. unit cohesion typical of the military. erans are “hardworking, detail- But he had no luck after gradu- gram has been very worthwhile,” he “It’s the best entry-level way toward The plan is to try to deploy members oriented team players, professional ating from Long Island University said. “And it’s felt natural to be part a career path in technology,”he said. in small groups to continue that cru- and comfortable in stressful environ- with an M.S. six months later, in of a unit.” The median annual pay for QA soft- cial camaraderie. ments. Those are the qualities every May 2012, and applying to more The program that helped him is ware testers in New York is about It’s a plan that seems to appeal to company looks for in its workforce.” than 25 firms.Then, one day earlier the brainchild of Karen Ross, $53,000, according to Salary.com. the participants. “We come from The program, in which the vets are this year, while searching the Web founder and CEO of Sharp, a prof- Nonetheless,VETS has encoun- different branches of the military,” hired for Sharp’s staff but work at for job possibilities, he came across itable firm,which,she said,has annu- tered some roadblocks.Some clients said Mr. Weis. “But we have the other firms, just trained its second an intriguing new program called al revenue of more than $50 million. have indicated a lack of interest same goal to reach.” group of veterans and is about to VETS (Vocations, Education and After learning about efforts to help because they’re attached to “off- So far,the program’s first client is start its third session. Ⅲ Training for Service Members). veterans get jobs in large companies, shoring” QA testing assignments to satisfied with the outcome. “VETS Run by Sharp Decisions,a Man- such as the JPMorgan Chase-led overseas providers, according to Ted supports our efforts to provide career To sign up for Crain’s hattan-based strategic technology, 100,000 Jobs Mission initiative, and Ryrie, Sharp’s managing director opportunities to New Yorkers,” said SMALL BUSINESS newsletter, go to business process and development reading about the high unemploy- and program manager, who is head- Stephen Zeng, vice president of the www.crainsnewyork.com/smallbiz. consulting firm with offices ment rate for recent veterans of the ing up the VETS effort. Enterprise Project Management

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September 23, 2013 | Crain’s New York Business | 11 20130923-NEWS--0012-NAT-CCI-CN_-- 9/20/2013 2:56 PM Page 1

OPINION CRAIN’S NEW YORK BUSINESS

Development, not drama editor in chief Rance Crain publisher, vp Jill R. Kaplan here’s now less reason than ever to oppose Joseph Lhota has. Instead, Mr. de Blasio has said the current EDITORIAL editor Glenn Coleman the Bloomberg administration’s rezoning plan should not proceed because it doesn’t ensure improve- managing editor Jeremy Smerd ments to handle the 16,000 office workers it would add. deputy managing editors Valerie Block, of midtown east.The Independent Erik Ipsen Budget Office just forecast that the plan That is, in a word, preposterous.The plan creates an assistant managing editor Erik Engquist infrastructure fund that developers would pay into before senior producer, news Elisabeth Butler Cordova would not create a glut of office space in news producer Amanda Fung the city. Quite the contrary: The 4.5 receiving building permits. Moreover, Mayor Michael contributing editor Elaine Pofeldt Bloomberg in July announced the city would pay for other columnists Greg David, Steve Hindy, Alair Townsend million square feet it would add will be crain’s health pulse editor Barbara Benson needed to meet rising demand, the IBO said. transit and pedestrian improvements.The Metropolitan senior reporters Theresa Agovino, Councilman Daniel Garodnick, a Democrat whose Transportation Authority, for its part, is spending hundreds Aaron Elstein, Lisa Fickenscher, Matthew Flamm, T Daniel Geiger, Adrianne Pasquarelli district includes the 73 blocks to be rezoned, had requested of millions of dollars—and billions on the Second Avenue reporters Chris Bragg, Andrew J. Hawkins reporter/videographer Ken M. Christensen the analysis as he negotiates changes to the proposal. subway—to alleviate crowding in the area. Capacity already web reporter/producer Nazish Dholakia Amendments have already been made to satisfy various exists to add trains at art director Steven Krupinski deputy art director Carolyn McClain constituencies in advance of the City Planning Commission’s Grand Central, if riders staff photographer Buck Ennis scheduled Sept. 30 vote, and more bargaining is expected Seeking could just board and copy desk chief Steve Noveck copy editor Thaddeus Rutkowski before the City Council decides the matter in November. But leadership exit more efficiently. data editor Suzanne Panara by now it should be obvious that its passage is essential to Widening sidewalks is assistant data editor Emily Laermer keep midtown east a first-class business district. on a crucial another obvious researchers Irina Ivanova, Eva Saviano By unfortunate custom, the local council member remedy. ADVERTISING, MARKETING AND PRODUCTION rezoning plan director of sales and marketing generally decides the fate of land-use proposals, even those Even without Nancy Adler improvements, 16,000 senior account managers Irene Bar-Am, of citywide importance, and Mr. Garodnick still has a David Harkey, Jill Bottomley Kunkes, laundry list of demands.They include infrastructure workers added over Courtney McCombs, Suzanne Wilson director of custom content Trish Henry improvements, energy-efficiency mandates, a special-permit decades would be sales coordinator Lauren Black requirement to guarantee that hotels will be union-staffed unnoticeable.The Lexington Avenue line alone carries 1 newsletter product manager Alexis Sinclair credit Todd J. Masura (313-446-6097) and assurance that building density will be “appropriate” million passengers a day, and recent ridership increases have director of audience & content while “protecting community input.” come around the edges of rush hour, a trend certain to partnership development Michael O’Connor senior marketing manager Democratic mayoral nominee Bill de Blasio could show continue as technology lets people work anywhere, anytime. Catherine Schutten leadership and reassure the business community about his The Democrats are making this far too complicated. director of conferences & events Courtney Williams candidacy by endorsing the rezoning, as Republican rival Midtown east needs development, not drama. reprint sales manager Lauren Melesio production and pre-press director Simone Pryce advertising production manager CRAIN’S ONLINE POLL COMMENTS Suzanne Fleischman Wies ONLINE AND INTERACTIVE SERVICES senior web developer, interactive Chris Tumminello Commish doth dish TO SUBSCRIBE: For print and digital subscriptions or customer service, e-mail [email protected] BIC CHIEF RESPONDS The editorial neglected to BIC enforcement adjacent to or call 877-824-9379 (in the U.S. and Canada) or TO CRAIN’S EDITORAL mention that background the market, the city has seen a 313-446-0450 (all other locations). $3.00 a copy for investigations have turned up 145% growth in the number of the print edition; or $99.95 one year, $179.95 two Your Sept. 16 editorial on the numerous cases of organized- legitimate businesses in the area. years, for print subscriptions with digital access. www.crainsnewyork.com/subscribe istockphoto New York City Business crime connections. In 2011 and Most businesses understand Integrity Commission’s work in 2012, BIC shuttered three that the background-check fees TO ADVERTISE: SHOULD EMPLOYERS STOP Bronx neighborhoods near the businesses that defied our are a tiny fraction of what they Contact Nancy Adler at Hunts Point Market (“A stop- repeated attempts to keep the would pay if organized crime [email protected] or call 212-210-0278. PROVIDING HEALTH and-frisk for business”) badly Genovese crime family from controlled the markets, as it has www.crainsnewyork.com/advertise INSURANCE? misleads Crain’s readers by monopolizing the sale of been attempting to do. Far from FOR INFORMATION ON OUR EVENTS: failing to report key pieces of produce.The details of those hurting the area’s job numbers, Contact Courtney Williams at Yes. Businesses can then use the savings to evidence, including that which cases are available for the public as the editorial suggests, the [email protected] or 212-210-0257. hire more people and increase wages. shows businesses have thrived and are highly detailed in their city’s efforts have helped them www.crainsnewyork.com/events No. Employer-sponsored health insurance is under anti-crime regulations. analysis of how organized reach new heights. TO CONTACT THE NEWSROOM: better and helps attract and retain quality BIC requires Hunts Point crime continues to attempt to Crain’s seems to suggest that 711 Third Ave., New York, NY 10017-4036 workers. Market businesses to undergo gain a foothold in the Bronx organized crime is no longer editorial phone: 212.210.0277 background investigations to marketplace. For a publication something to guard against, fax 212.210.0799 Date of poll: Sept. 17 keep organized crime out.The that asserts to represent the that the public’s interests are Entire contents ©copyright 2013 Crain Communications Inc. 366 votes All rights reserved. ®CityBusiness is a registered trademark editorial criticized BIC for interests of the business best served by turning a blind of MCP Inc., used under license agreement. “expanding its net” into areas community, it is perplexing eye to its continued presence. beyond the market, without that Crain’s failed to fully take How deeply irresponsible. You CRAIN COMMUNICATIONS INC. BOARD OF DIRECTORS mentioning that these areas note of the ongoing danger that are carelessly jeopardizing those chairman Keith E. Crain president Rance Crain were part of BIC’s original organized crime poses to law- businesses that have benefited treasurer Mary Kay Crain jurisdiction when the agency abiding businesses. from the fair marketplace that Cindi Crain 48% was created under Mayor The editorial also ignored the city has taken great strides executive vp, operations William Morrow 52% No Rudolph Giuliani in 2001. Nor that background investigation to ensure—and that businesses executive vp, director of strategic Yes did it mention how a recent fees, which are based solely on and consumers deserve. operations Chris Crain court ruling requires BIC to the cost of the necessary —shari c. hyman senior vp, group publisher Gloria Scoby conduct background reviews, are not slowing the Commissioner and chair vp/production, manufacturing David Kamis chief information officer Paul Dalpiaz investigations in the areas market’s growth. Since 2009, New York City Business adjacent to the market. when a court order mandated Integrity Commission founder G.D. Crain Jr. (1885-1973) chairman Mrs. G.D. Crain Jr. (1911-1996) secretary Merrilee Crain (1942-2012) FOR THIS WEEK’S QUESTIONS: CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to [email protected]. Send columns of 475 Go to www.crainsnewyork.com/poll to have your say. words or fewer to [email protected]. Please include the writer’s name, company, address and telephone number.

12 | Crain’s New York Business | September 23, 2013 20130923-NEWS--0013-NAT-CCI-CN_-- 9/20/2013 1:52 PM Page 1

HOLLY LEICHT next mayor is serious about serving the entire park system equitably, he Don’t plunder parks must focus first on how public resources are allocated across the city’s 1,700 parks. An adequately funded, conservancies’ cash full-time maintenance and enforcement staff for every park is essential, and capital spending should target NEW DATA CENTER OPENS ecent large gifts to the Central Park Conservancy those parks most in need. and Friends of the High Line have fueled a City Hall should continue to IN LOWER MANHATTAN misperception that such nonprofit organizations support the efforts of conservancies across the city while requiring trans- breed inequity in the parks system as a whole.With parency and accountability to en- o help New York City firms keep their Clients have access to conference rooms the City Council holding an oversight hearing on sure that private funds augment data secure and accessible in an emer- and staging space, with dedicated park conservancies last week, it’s time to set the record straight. public dollars rather than displace Tgency, Time Warner Cable Business internet and Ethernet access from Time R them. Class, a premier provider of business com- Warner Cable Business Class. An on-site There’s no doubt that conditions vary from park to park It’s great news that New York’s munications solutions, recently opened its tech team provides “remote hands” around across the five boroughs. But New Yorkers for Parks’ extensive philanthropic community views energy-efficient data center at 395 Hudson the clock to those who can’t come to the parks—and the public realm in gen- Street in the heart of Lower Manhattan. premises but need someone to work with citywide research on public-private ly expect. Redirecting a percentage eral—as a worthy cultural cause.Ex- their equipment. partnerships and park maintenance of their operating budgets toward a ploring ways to bring private funds The pristine, 17,000-square-foot coloca- makes clear that singling out con- citywide fund would result in debil- into the city’s neediest parks is a no- tion facility offers companies of all sizes For companies looking to make their IT sys- servancies as the source of the prob- itating cuts to these parks’ mainte- ble endeavor. But the goal should be the ability to rent premium storage space tems redundant, the center offers an ideal lem misses the mark. nance staffs and programming. to broaden parks’overall donor base, for their servers and other IT assets at solution. Built on a seven-foot concrete One proposal that has garnered What’s more, the sum total of not cannibalize contributions to ex- competitive prices in a building offering slab floor at a location 59 feet above sea attention calls for appropriating funds from such a tithe would not isting conservancies and potentially high-level security. level and equipped with two powerful back- money from the city’s most suc- actually generate enough money to chill future gifts to them. “Information technology is the lifeblood of up generators, the facility did not suffer cessful conservancies to bankroll a make meaningful improvements in Diverting donations would crip- any business, and protecting these assets flooding or power outages during Hurricane citywide fund for underserved other parks. ple the very conservancies that have Sandy. For more information about intro- parks. Before rushing to eradicate This isn’t to say successful con- transformed some of the world’s in a secure data center is a high priority in today’s business world,” said Ken Fitzpat- ductory rates, call 1-855-832-0623 or visit park inequity on the backs of a servancies have no part to play in most heavily used parks from dust BUSINESS.TWC.COM/COLOCATION. handful of conservancies, it’s im- helping underserved parks. A more bowls to gems, without actually rick, Chief Operations and Transformation portant to better understand these appropriate role would be sharing solving the problem of disparate Officer, Time Warner Cable Business Class. organizations. their expertise and staff with other park conditions. Most conservancies in New York parks, as the Central Park Conser- BUSINESS.TWC.COM/COLOCATION City have modest revenues and vancy does now under its contract. Holly Leicht is executive director of New struggle to keep their parks at a stan- But parks inequity can’t be solved Yorkers for Parks, an independent research dard of care that New Yorkers right- by the private sector alone. If the and advocacy organization.

sharing among the plutocrats. The Brooklyn Nets don’t have to pay Russian billionaires much (or even pay anything) in government taxes because the team will lose so much money. In fact, a fran- won’t fix income gap chise like the Nets spends relatively little beyond what it pays its players: n the now-infamous interview in which Mayor Michael $50 million would be a good guess. Rather than being an exception, Bloomberg called Bill de Blasio’s mayoral campaign Mr.Prokhorov’s local economic im- racist, Hizzoner went on to belittle concerns about in- pact is probably typical for the top equality. “Wouldn’t it be great if we could get all the 1%, who, experts say, have grabbed Russian billionaires to move here?’’he asked,because,af- 95% of the increase in income since the recession ended.The wealth was Iter all,they pay the taxes that finance the city and generally boost shared more widely in the econom- the local economy. ic expansions of the late 1990s and the years before the financial crisis. Unfortunately for the mayor, it New York boomed in those years. isn’t as simple as that. It’s an impor- Despite record growth, the city is tant point, as new data released this not doing as well today. month show that an ever-smaller No wonder New Yorkers are so number of people are becoming ever dissatisfied and willing to accept Mr. richer in the rebound since the finan- de Blasio’s tale of two cities. And cial crisis. Inequality is rising in the those who oppose his plans will need city again (as the chart shows), and better arguments than the mayor’s. this time it is not being accompanied by gains for the rest of the city. INEQUALITY: IT’S BACK To understand why, consider the impact of the most prominent Russ- The share of income attributed to the ian billionaire who has come to New GREG DAVID top 1% in the nation, state and city seems to be rebounding after being York in recent years: Brooklyn Nets depressed following the financial crisis. owner Mikhail Prokhorov. He is certainly spending money. money goes to just five players.They U.S. NYS NYC The deals he engineered during the own homes in New York—and 2007 23.5% 35.3% 44.0% summer to bring All-Stars Paul many other places. It is not as if all 2008 20.9% 30.7% 39.1% Pierce and Kevin Garnett to the of their spending benefits the city. 2009 18.1% 26.5% 34.3% team has sent the Nets’ payroll soar- The same applies to taxes.Their ac- ing, to a league-high $101 million. countants keep careful track of 2010 19.9% 27.5% 35.0% In doing so,Mr.Prokhorov will have where they are every day,so they pay 2011 19.7% 28.1% 35.8% to pay the NBA another $82 million income taxes only for the days they 2012 22.5% 30.3% 38.6% in so-called luxury taxes.That’s a lot work in New York City. Source: Fiscal Policy Institute, which used national figures from research by Emmanuel Saez and Thomas of dough. That huge luxury-tax bill goes to Piketty and its own research for New York City and About $81 billion of the salary other NBA teams—revenue- state figures.

September 23, 2013 | Crain’s New York Business | 13 20130923-NEWS--0014-NAT-CCI-CN_-- 9/19/2013 5:20 PM Page 1

IN THE BOROUGHS BROOKLYN That’s the spirit! Continued from Page 3 $105,800, 11.5-foot- Seizing on the increased popular- tall German-made ity of micro- or small-batch-distilled still, for example, Van spirits, a host of new liquor makers Brunt has 100 com- are setting up shop in south Brook- mercial customers, lyn,from the Navy Yard through Red nearly 40% of which Hook and into Sunset Park, in a nod are in the borough and to the strip’s manufacturing roots. several of which are The Distilled Spirits Council of the within blocks of the U.S., a leading industry trade group, distillery. Ms. Lud- estimates there are now 180 small ington said the syner- distilleries operating around the nagy is ideal when a bar, tion. At least 10 of them are in Kings such as Applewood in County. Park Slope, singles Along with out her distillery on its Van Brunt, Ca- $8 drinks menu. Better cao Prieto, a PRICE of a Kings yet, patrons who take chocolate maker, County Distillery a shine to the rum can began making tour at Navy Yard then walk down the whiskey in Red street to either of the Hook last year, 80 two liquor stores in PROOF of Van

and shortly the area that stock it. buck ennis Brunt Stillhouse thereafter, Un- moonshine “Just putting a new STILL LIFE: Sarah Ludington and her husband set up their couth Vermouth product in a restau- distillery, Van Brunt Stillhouse, in Red Hook. debuted a few rant or bar doesn’t blocks away. $31.99 mean people will or- COST of a fifth of Some distillers, Breuckelen der it,” she said. “It’s a great setup if Distilling, a four-year-old maker of like Kings Distilling’s gin we can get on the cocktail list and gin and whiskey in Sunset Park, is County Dis- there’s a store nearby that sells our bursting out of its 2,500-square-foot tillery, which started in Williams- product.” seams. Founder Brad Estabrooke burg but now operates out of the When Mr.Spoelman began dis- has been searching for a property Navy Yard, have moved farther tilling his Kings County-brand with high ceilings and at least dou- south as they outgrew their space. moonshine and bourbon three years ble the floor space, but to no avail. ago, he did so in a tiny 300-square- The right neighborhood foot studio apartment in East High rents “There are city codes, state laws Williamsburg. Within a year, he Most landlords have wised up to and federal requirements about was canvassing for a much larger the need for their warehouse-type where a distillery can be,” said space, hoping to stay near home. spaces by distillers and the specific Colin Spoelman, co-founder of Not finding any, he turned his special requirements of the spirit- Special Advertising Section three-year-old Kings County Dis- sights southward and found the making industry,and increased their tillery, noting that, among other pickings rich. prices. Property owners recognize things, the business can’t be near a Last year, he inked a deal to take that distillers are among the only church or school.On the other hand, over the former paymaster’s office in growing industries looking for those he notes that, surprisingly, “every the Navy Yard, a two-story, 7,200- types of industrial spots.Some own- distiller in New York City is within square-foot property.This summer, ers are charging $24 a square foot, 300 feet of some body of water for no Mr. Spoelman, who sells nearly 70 60% more than what was on the practical reason other than that’s liters of bourbon a day, even started market four years ago. where most of the industrial space growing corn and barley on the va- “The rents people are asking are appropriate for manufacturing is.” cant lot next door to his distillery. egregious,” Mr. Estabrooke said, Picking the right neighborhood “We’re thinking about buying noting that in 2009, there were no can also provide a crucial marketing new stills and expanding within the other distillers in the city and now edge. Many of the new distillers log Navy Yard to get more barrel stor- there are several. “For us to have a their first sales with their neighbors— age,” he said. bunch of whiskey sitting around in local liquor stores, bars and restau- But growth can bring problems an overpriced warehouse while we rants that in turn are only too happy for the borough’s microdistillers. wait for it to come to is an uphill bat- to tout their neighborhood’s wares. Many say that space is becoming in- tle—maybe aging it outside the city CRAIN’S GIVING GUIDE: Two years after firing up its creasingly hard to find. Breuckelen is the solution.” Ⅲ BQE. Not under consideration are FROM the most used thoroughfares, like PHILANTHROPIC OPPORTUNITIES AROUND Queens and Woodhaven boule- vards, according to Mr. Giordano, THE CITY who noted the reasons are clear. This special section will showcase mission statements and goals of nonprofits “Automobiles are taking up too throughout the New York metro area, helping the business community find an many lanes, too many hours of the QUEENS day,” he said. “I’m certainly not a organization that best fits with their own charitable goals and objectives. good enough bicyclist to go on Filling in a blank Woodhaven—I’m too chicken.” Sponsors of the Giving Guide will have the opportunity to showcase their mission on the bike maps Cycling stalwarts insist that bike directly to affluent and executive readers who are interested in increasing their lanes may be exactly what the bor- involvement in causes across the city. On maps of bike lanes in the city, ough’s busiest thoroughfares need central Queens is largely a blank. most to cut both the volume and That may change by early next year. speed of car traffic. KEY DEADLINES: Community Board 5, which in- “The benefits of bike lanes are

For more information, please contact Trish Henry at cludes Ridgewood, Maspeth and istockphoto there for all Queens residents— Close date: 11/14/13 (212) 210-0711 or [email protected]. Middle Village, hosted a forum on traffic is slower, and people don’t Pub date: 12/02/13 lanes in May, attended by scores of sidered for Onderdonk Avenue and crash as often,” said Caroline Sam- residents and the Department of Woodward Avenue in Ridgewood, porano, senior director of cam- City Planning. Now the DCP and said CB5 District Manager Gary paigns and organizing for Trans- the Department of Transportation Giordano, as well as 69th Street, a portation Alternatives, an advocacy aim to identify six new routes in the major north-south thoroughfare group.“Queens is ready and eager to area by early 2014. that runs between the Queens- have safer streets come.” Shared bike lanes are being con- Midtown Expressway and the —irina ivanova

14 | Crain’s New York Business | September 23, 2013 20130923-NEWS--0015-NAT-CCI-CN_-- 9/19/2013 5:39 PM Page 1

Bloomberg seeks to ban food from landfills

mental approach to an expensive istration would represent a leap met opposition from delicatessens, the private market will develop fa- City’s biggest foodies problem—the problem that our from voluntary programs to manda- small restaurants and takeout busi- cilities to process food waste, Mr. (hospitals, hotels, largest institutional players are tory ones for large commercial es- nesses. Goldstein said. forced to pay to send food waste to tablishments. The food-waste ban will likely “If you want to get people to in- universities) would distant landfills or incinerators.” exempt those eateries and other vest in the capacity, you need to The Bloomberg administration Polystyrene ban pending small-scale producers of food waste send them a signal that there will be have to recycle grub and the City Council have already “The rush to complete the but could still accelerate the con- a product, that the raw materials announced pilot projects for resi- Bloomberg legacy is on,”said an in- struction of processing plants, thus will be there to pay back their in- BY ERIK ENGQUIST dential food-scrap composting, a sider active in the food-waste in- lowering the cost of environmen- vestment,” said Mr. Goldstein of small but growing trend throughout dustry.Another source said a previ- tally friendly food-waste disposal the NRDC. “We believe this con- The Bloomberg administration the country. Also, more than 100 ously introduced bill forbidding for establishments of all sizes. cept will spur the creation of addi- hopes to unveil legislation requiring restaurants in New York City have businesses from using polystyrene Massachusetts’ban on commer- tional facilities within the region to hospitals, hotels, universities and signed a pledge to reduce by half the food containers could also become cial land-filling of food waste could handle food scraps and yard waste other large-scale producers of food food waste they send to landfills. law in the waning days of the ad- take effect in 2014. As more juris- and thereby create an economic waste to make it into something But the bill planned by the admin- ministration. That legislation has dictions implement such policies, benefit for large institutions.” Ⅲ useful rather than just bury or burn it, sources said last week. A bill could be introduced next month and passed before Mayor Michael Bloomberg and City Council Speaker Christine Quinn leave office at the end of the year. But it would not take effect until at least 2015, and only then if facilities More than a loan. that turn food waste into fertilizer or energy could handle the enormous quantities that the city’s institutions throw away.Organic waste accounts for about 35% of the city’s more than An investment in 20,000 tons of daily refuse. A spokesman for the mayor’s office did not respond to inquiries. A City Council spokeswoman said the administration has told the council your business. about its plans but has not provided enough detail for the speaker’s office to be able to comment. However, Ms. Quinn has been vocal about expanding composting and has indicated a desire to pass a great deal of legislation before her term expires. Connecticut, Massachusetts and Vermont are implementing bans on sending commercial food waste to landfills, though it is too soon to judge their effectiveness because until sufficient processing capacity is available, businesses are off the hook. But waste-handling companies are actively adding this capacity: Waste Management has at least three dozen organic-processing plants in Raise the the U.S. and has investments in oth- green flag. ers, such as Harvest Power, which At M&T Bank, we know that business is the lifeblood of a strong turns yard trimmings and food waste into energy,soil, mulch and fertilizer at 28 sites across North America. community. That’s why we have an unwavering commitment There’s even one in Brooklyn, but it accepts only wood, leaves, brush and to supporting small business. While we’re a leading small business other vegetative material. lender nationally,1 we still make our lending decisions locally. Costs could be steep Recycling food waste is expen- And right now, we can help you take advantage of historically low sive because processing facilities are scattered across the country and or- interest rates. Find out how M&T’s expertise and award-winning ganic waste is heavy. But costs are expected to fall in the coming years service2 can help your business today. with economies of scale. If there is a convenient nearby option, recycling food waste is generally less expensive than dumping it in landfills, where it rots and generates green- house gases that contribute to global warming. More than 16% of the nation’s methane emissions come from food waste in landfills. Call 1-800-724-6070 or visit raisethegreenflag.com. “If the capacity exists, there’s no reason why this shouldn’t be a money-saver for the big institution- 1According to statistics released by the Small Business Administration (SBA) for total approved loans through the SBA’s 7(a) lending program during the fiscal year ending 9/30/12. al players,” said Eric Goldstein, a 2Based on Greenwich Associates 2012 Small Business Banking Excellence Awards. senior attorney at the Natural Re- All loans and all terms referenced herein are subject to receipt of a complete M&T application, credit approval and other conditions. Other terms, conditions, fees and restrictions may apply. All advertised offers and terms and conditions of accounts and services are subject to change at any time, without notice. After an account is opened or service begins, it is subject to its features, conditions and terms, which are subject to change at any time in accordance with applicable laws and sources Defense Council, a non- agreements. Please contact an M&T representative for full details. profit environmental advocacy ©2013 M&T Bank. Member FDIC. group. “This is a thoughtful, incre-

September 23, 2013 | Crain’s New York Business | 15 REAL ESTATE

CN016120.indd 1 9/18/13 11:14 AM 20130923-NEWS--0017-NAT-CCI-CN_-- 9/19/2013 5:26 PM Page 1

REAL ESTATE INSIDE Deals John Lennon’s former hangout gets a makeover, and a financial firm subleases its old space PAGE 19 The List New York’s largest real estate REPORT investment trusts PAGE 20 Retail rents ride tourism wave Spending by 52M visitors fuels a huge surge in prices of prime spots

BY ADRIANNE PASQUARELLI During the past decade,the number of tourists visiting New York has soared by 38%. It is now an army of 52 million that will spend more than $37 billion this year—double the amount of 2003—on everything from Circle Line tickets and nights at the New York Hilton, to American Girl dolls and Junior’s cheesecake. As impressive as GOING UP those gains are,howev- WILLIAMSBURG: Bedford er,they pale in compar- Avenue from North Eighth ison with those reaped Street to Metropolitan 10 0% FIFTH AVENUE: from Avenue by the city’s retail land- RISE IN PER-SQUARE-FOOT 49th to 59th streets lords over the same pe- rents on Fifth Avenue in the past decade riod in prime tourist haunts.Along the half- mile of Fifth Avenue running from 49th to +400% 59th streets, average CHANGE in retail rents in asking rents per square Williamsburg, Brooklyn, in foot have more than the past decade doubled, to just over $3,000—the highest in the nation by a considerable margin. Down on lower Broadway in SoHo, where the shoppers tend to be younger but no less willing to spend,average asking rents for the best spaces have jumped 133%,to $700.Those sorts of gains blow the doors off the 26% rise in average retail rents in Man- hattan since 2003, or even the 33% jump in average residential rents in the borough. And for those landlords in the outer boroughs DOWNTOWN who are just beginning to draw customers not just SOHO: Broadway BROOKLYN: Fulton from other parts of town but from other continents, between Houston and Street Mall Broome streets

photos: buck ennis See RETAIL RENTS on Page 18 Strength in numbers as banks band together on loans

ship of investors led by Aby Rosen other banks from its posh offices at of powerful syndicates is helping just a few years ago,” said Peter Growth of lender and Jared Kushner tapped the Paris- 9 W. 57th St. to see if they would spur a revival of lending in all sorts D’Arcy, a regional president at syndicates helps spur based bank to provide $375 million like a piece of the action. of projects that until recently had M&T Bank. M&T minimized its to help fund the purchase of a port- By syndicating such large loans, been shunned. They include every- exposure to the downturn because it financing revival folio of six buildings in the Brook- or splitting them up among several thing from construction loans for had refrained from making aggres- lyn neighborhood. lenders, banks are able to mitigate residential condominiums to un- sive loans during the boom, he said. The fact that a European lender the risk any one of them would have derwriting transactions in second- “It really hurt, and lenders certainly BY DANIEL GEIGER boldly ventured so far from the to shoulder, an important feat in a ary markets like Dumbo and Long don’t want to do that again.” tried-and-true precincts of Man- market where memories of the bil- Island City, Queens. While arranging a financing In July, Natixis outmaneuvered a hattan made the deal unusual.What lions of dollars lost in dud property “There is a long institutional with a pack of banks hugely compli- gaggle of competing lenders to win came next was not.Two months af- loans during the recession lingers memory, and a lot of lenders re- cates matters for the borrowers— the nod to finance an ambitious deal ter committing to provide the fund- like a monstrous hangover. member how they got killed doing people who at the peak of the mar- in Brooklyn’s Dumbo. A partner- ing, Natixis began reaching out to In the meantime, the emergence condo deals and other development See BANKS on Page 18

September 23, 2013 | Crain’s New York Business | 17 20130923-NEWS--0018-NAT-CCI-CN_-- 9/19/2013 5:25 PM Page 1

REPORT REAL ESTATE

Fifth Avenue Retail rents soar (from 49th to 59th streets) RECENT BIG DEALS: Ralph Lauren took 38,000 square feet at 711 Fifth Ave. Continued from Page 17 “The tourists keep coming,”said for a store (with a restaurant). Valentino signed on for 20,000 square feet at the wave of prosperity has been even Richard Hodos, a broker at CBRE 693 Fifth Ave. more eye-popping. Along the Ful- Group Inc.“[As a result] there is still he crush of rubbernecking tourists on a sunny Saturday afternoon can turn ton Street Mall in downtown an incredible amount of new de- a pleasant stroll into a veritable contact sport. The gilded corridor, Brooklyn, average rents have signers and new kinds of businesses anchored by Saks Fifth Avenue to the south and winding past Bergdorf tripled. In the interna- here or from overseas T Goodman to the north, has long commanded some of the highest retail rents in the tional phenomenon that looking to open a store in Williamsburg has be- New York.” world. And despite rents best described as punishing, vacancies are fleeting and $37B demand is robust. Designer Marc Jacobs, with seven shops downtown, is looking come, the average asking AMOUNT that While Fifth Avenue, Avg. asking rent per square foot rents today are five to six tourists will spend Times Square and SoHo to open his first store on the storied strip in the near future. in New York City “The rents on Fifth have no relation to the broader market,” said Faith Hope $3,050 times what they were back this year draw all the usual names in 2003. from around the planet, Consolo, executive chairman of retail at Douglas Elliman. “It’s the demand for the Source: NYC & Company space that’s driving prices.” And the good news is increasingly emerging $1,500 that those numbers look brands with thinner wal- The corridor is so popular that lesser retail lights, including Urban Outfitters and like they will continue to rise, fueled lets and edgier goods are targeting Joe Fresh, have cashed in by doing a bit of tailgating. They’ve opened stores in the by an expected growth in the num- Brooklyn and even such areas as far cheaper but still heavily trafficked 10-block stretch just to the south. 2003 2013 ber of visitors to 55 million by 2015. Flushing, Queens. Ⅲ

SoHo Williamsburg Downtown Brooklyn (Broadway between Houston and Broome streets) (Bedford Avenue from North Eighth Street to Metropolitan Avenue) (Fulton Street Mall) RECENT BIG DEALS: Michael Kors inked a deal for a 15,000- RECENT BIG DEALS: Whole Foods will open a 30,000-square-foot RECENT BIG DEALS: Nordstrom Rack signed on for 41,000 square-foot, three-level flagship at 520 Broadway, its biggest yet. outpost at 242 Bedford Ave. Urban Outfitters recently signed on square feet. oHo rents have for space on North Sixth Street. Apple is negotiating for space n recent years, the doubled over the on Bedford. 17-block-long Fulton Spast decade as the nce a haven for IStreet Mall has neighborhood has independent evolved from a motley gained more clout as the Oclothing assortment of discount place to shop every boutiques, vintage and shoe stores with no- brand, high to low. Luxury furniture stores and name brands to a brands like Prada and creative jewelers, shopping destination high-end designers like Williamsburg is now dotted with an array of Michael Kors nestle near attracting large-scale retail national retailers that H&M and the Gap. chains and restaurants. rivals those found in most Avg. asking rent per square foot Avg. asking rent per square foot “The foot traffic is They’re lured by the droves suburban malls. incredible,” said Ms. of tourists and $200 Increasingly, stores $200 to $250 Consolo. “[SoHo] rivals Manhattanites eager to such as H&M are being to $300 Times Square but has Avg. asking rent per square foot peruse the eclectic wares lured in by the area’s new real shoppers.” While of the Brooklyn Flea, luxury residential high- $75 Times Square, with its $600 sample the artisanal $30 to $50 rises and its proximity to to $700 to $100 massive flagships and offerings of the 2003 2013 Barclays Center. Shake 2003 2013 Shack, which opened on even more massive $250 Smorgasburg food fair or billboards, is known as a to $300 enjoy the neighborhood’s extensive bar and nightlife scene. Fulton Street two years ago, is also a draw. branding bonanza, sales in “Every Japanese guidebook will now mention Williamsburg, “I never would have thought of downtown Brooklyn as a 2003 2013 the neighborhood rarely and a lot of tourists will opt to go there instead of SoHo,” tourist destination,” said Tim King, co-founder of CPEX Real justify the rents. SoHo, on the other hand, is not only teeming explained Peter Levitan, a broker at Manhattan-based Lee & Estate, which is based in the area. “Now I look around and the with visitors, those visitors are also toting shopping bag after Associates, which now markets space in Williamsburg as well. place is swarming with tourists.” shopping bag. “They’re going to the restaurants, the bars and the boutiques.” Both Armani Exchange and Century 21 are slated to open in As with Fifth Avenue, demand for space has pushed into the He noted that the neighborhood is attractive to developers and the coming months at the new City Point development on the southern end of the neighborhood past Broome Street. Edgier landlords because it had been so under-retailed. Some of them corner of Dekalb Avenue and Fulton Street. The neighborhood brands such as Alexander Wang, Isabel Marant and Opening have even scooped up consecutive buildings to create their own attracts at least 36.5 million people annually, according to City Ceremony have put down roots in the streets around Canal. retail corridors on the side streets off main drag Bedford Avenue. Point’s website.

In fact,the pressure to speedily lay pool of mortgage securities faster off risk to a broader club of lenders than an originator can offload them Banks band together on loans has increased markedly in recent to buyers, putting lenders in danger weeks as uncertainties in the finan- of having to absorb the loss. Continued from Page 17 necessary to build,” said Francis they’re doing deals,and show they’re cial markets have mounted and as in- “For a commercial mortgage- ket could get a yes or no from a sin- Greenburger, chief executive of real back,” said Gino Martocci, an exec- terest rates have ticked steeply up- backed securities lender, it can be at- gle lender in just days—few are estate firm Time Equities, who just utive at M&T Bank. ward, driving bond prices tractive to split up a large complaining. The memories of locked up a nearly $400 million loan down sharply. The chief single-asset loan with an- those years when lenders steered from a pack of a half-dozen lenders Join the club culprit is the decision by $800M other issuer,” said Doug AMOUNT OF LOAN clear of real estate are all too fresh. to build a condo tower downtown at Even banks that convert real es- the Federal Reserve, now for 650 Madison Mazer,head of Real Estate That is true even though today’s 50 West St. tate loans into securities, then sell that the economy is gain- Ave. partners that Capital Markets at Wells syndicates typically impose stricter Aside from the protections af- them piecemeal to bond investors, ing momentum, to ease Goldman Sachs is Fargo. Mr. Mazer led a standards than their lone-wolf forded by spreading a loan among have adopted the club approach. back on its efforts to stim- looking to split deal at the beginning of the predecessors did. Today, for exam- many partners, lenders also see the Goldman Sachs,for example,is said ulate business activity by year in which Wells Fargo ple, the amount of equity a borrow- opportunity to forge new relation- to be searching for a partner to share flooding the market with cash. split a $600 million securitized mort- er must put into a project is at least ships through syndications and the burden of securitizing an $800 But uncertainty over global gage for the Queens Center Mall in 30%, and more often 40% or even rekindle old partnerships after a million loan that it is arranging for a events like the conflict in Syria has Elmhurst, Queens, with Bank of 50%, up from the peak of the mar- long period of dormancy.The tech- partnership of buyers that just ac- also added to the volatility. Such America and JPMorgan Chase. ket when banks would finance al- nique allows lenders to participate quired 650 Madison Ave. for $1.3 events, bankers say, create the po- “The name of the game for CMBS most an entire project’s cost. in more deals and hence connect billion. And at the beginning of the tential for even higher interest rates issuers is velocity—selling your loans “Bank syndications have allowed with more borrowers. year,a similar-size securitized mort- and for a widening in the premiums quickly so they’re not sitting in your the lending market to get going “A lot of lenders have just come gage for the Eighth Avenue office banks build into the interest they warehouse subject to market volatil- again on larger projects and for de- back into the market, and they want tower Worldwide Plaza was also di- charge on loans. Those shifts have ity and spreading risk for an extend- velopers like me to tap the financing to reconnect with borrowers, show vided between two banks. the power to potentially devalue a ed period of time,” he said. Ⅲ

18 | Crain’s New York Business | September 23, 2013 20130923-NEWS--0019-NAT-CCI-CN_-- 9/19/2013 5:50 PM Page 1

REPORT REAL ESTATE DEALS

of successes subleasing spaces. He last year, the company recently BARE BONES recently offloaded about 400,000 signed on to lease just a third of that 685 THIRD AVE. John Lennon’s old square feet at 1290 Sixth Ave. for same space for 10 years. AXA Equitable in a matter of The retailer plans to operate the ASKING RENT; TERM: $55 per months. store as Alice NYC, a new concept. square foot; 10 years —daniel geiger The asking rent was $250 per hangout made over square foot. The landlord for the SQUARE FEET: 22,400 new store is a co-op, 201 E. 62nd ore than 30 years ago, whenever John Lennon wanted to Searle successor Apt. Corp. TENANT; REP: Integrated Corporate Relations; Kevin Daly of Cushman & take a break from the recording studio on the 10th floor at scales down “This will be more of a boutique Wakefield 321 W. 44th St.,he would head up to the roof and play songs feel with fashion apparel and also in- privately for Yoko Ono. Now the building’s new owners, Queens-based apparel and coat corporating their coat line,” ex- LANDLORD; REPS: TIAA-CREF; Anthony Dattoma and Zachary East End Capital, which bought the 230,000-square-foot chain Searle, which filed for bank- plained Melinda Miller, the Winick Freeman of CBRE Group Inc. structure late last year with GreenOak Real Estate Partners,are in the process ruptcy in 2009 and shuttered its Realty Group broker who, along M BACK STORY: The financial of converting that roof to a space tenants can enjoy. That effort is part of a stores last year,has gone into rebirth with Jeff Winick, represented both communications consultancy will take $7 million renovation of the 10-story building. mode. After closing its 4,500- the landlord and tenant. the entire second floor of the property, “We’ve tried to bring out the best of the building,to celebrate its history square-foot store at 1051 Third Ave. —adrianne pasquarelli according to The Commercial Observer. and embrace its aesthetic while giving it the feel of a new property as well,” said Jonathon Yormak, a founder and managing partner at the real estate investment firm. That effort is already beginning to pay off. Sony recently renewed its lease for five years for the 5,000- square-foot recording studio used Is your company Only 21% of by Lennon. Meanwhile, Stage Entertain- ment, which is producing a stage prepared for the companies are version of Rocky,has moved into a space with exposed brick and high changing health extremely or ceilings that the landlord built to the tenant’s specifications. Additionally, the owners will care landscape? very prepared to soon have the opportunity to fix up and lease the more than 30,000 square feet in the building on two address changes floors that will be vacated by The New York Observer at the end of the year.Rates used to be in the $30s per coming to our square foot in the property, but Mr. Yormak expects to net rents in the $40s and $50s per square foot when health care the renovations are completed. A leasing team from Jones Lang system in 2014.* LaSalle, led by Howard Hersch and Scott Panzer, represents ownership in leasing deals at the property.Sony conducted the deal directly with the building’s ownership. —daniel geiger

Brean Capital finds taker Earlier this year,Jones Lang LaSalle broker Matthew Astrachan found Brean Capital a new, smaller office at 1345 Sixth Ave. But the problem with leasing that 22,000-square- foot space was that it left the financial company with nearly 40,000 square feet in its old home at 570 Lexington Ave. Mr. Astrachan fixed that problem by subleasing that office, with several years remaining on its term, How will you be prepared? to Ladenburg Thalmann & Co.,another financial firm.The asking rent for the space was about $40 per Get our Employer’s Guide: aﬂ ac.com/HCRGuide square foot, Mr. Astrachan said. Brean Capital is happy because its new space will have open floors, rather than the perimeter offices of its former location. Mr. Astrachan said, “1345 Sixth Ave. just works much better because [Brean] wants to focus on their trading operations.” For Ladenburg Thalmann, which was represented by Douglas Elliman brokers Irene Nickolai and Louis Puopolo,the perimeter layout works well because the firm does Z130498b *Source: 2013 Aﬂ ac WorkForces Report 6/13 less trading, Mr. Astrachan said. Mr.Astrachan has had a number

September 23, 2013 | Crain’s New York Business | 19 20130923-NEWS--0020-NAT-CCI-CN_-- 9/19/2013 5:38 PM Page 1

THE NY’s Largest Real Estate Investment Trusts LIST Ranked by total square footage owned in the New York area

TRENDS

REIT total return index* 20%

15% 0.7% 10% 5% 0.0% 0% 12/31/2012 8/28/2013 YTD total return by sector* Hotels +12.1% Self-storage +9.0% Manufactured homes +7.6% Shopping centers +4.4% Offices +2.8% Industrial +1.6% All equity REITs +0.7% Health care +0.5% Diversified/other -0.7% Multifamily -4.1% Regional malls -5.2% Dividend yield by sector* Health care 5.1% Manufactured homes 4.0% Shopping centers 4.0% All equity REITs 3.8% Diversified/other 3.8% Multifamily 3.6% Offices 3.4% Hotels 3.4% Industrial 3.3% Self-storage 3.3% Regional malls 3.2% Median funds-from-operations growth by sector* Self-storage +30.5% Multifamily +14.1% Hotels +8.2% Industrial +7.6% All equity REITs +5.7% Diversified/other +5.2% Health care +4.6% Offices +3.6% Shopping centers +1.5% Regional malls +1.4% Manufactured homes -11.8% *As of Aug. 28, 2013. FFO growth shown is year- over-year for 2Q 2013. Source: SNL Financial

20 | Crain’s New York Business | September 23, 2013 5(&25' 75$16$&7,21 0855$<675((76$/(

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CN016113.indd 1 9/13/13 2:51 PM BUSINESS DINING & VENUES

by Chef Charlie Palmer An Interview with Charlie Palmer

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WUCUCPKPVGTPEQQMQTUQWU VCDNGVJG[ECPƂPFCVCHCTOGTU FQ[QWMPQYYJGPKVoUVJG 'XGPKH[QWTGXGPVKUPoVJWIG VCMGECTGQHVJCVHQT[QW #ICKPVJCPM[QW6JCVoUC EJGHCPFJCUPQYYQTMGFVJGKT OCTMGV'XGPVRNCPPGTUCPF TKIJVVKOGVQJKTGCRNCPPGT! CPQVJGTVJKPIVQEQPUKFGT VQWIJQPGDWV+YQWNFJCXG YC[VQVJGVQR#PFVJG[oTG JQUVUCTGRC[KPIOWEJOQTG *GTGCTGCHGYJKPVUVJCVKV KU[QWTHCOKNKCTKV[YKVJVJG 6JGUGCTGLWUVCHGYTGCUQPU VQUC[VJCVCURTQWFCU+COQH CNNGZVTGOGN[VCNGPVGF+VoUCNUQ CVVGPVKQPVQNQECNUWUVCKPCDNG OC[DGVKOGVQDTKPIKPVJG EQORQPGPVUPGGFGFHQT[QWT [QWOC[YCPVVQJKTGCRNCP- Contact us today to inquire about your next event · [email protected] O[TGUVCWTCPVUCPFQWTHQQF ITGCVVQVJGPYCVEJVJGUGIW[U OGPWUCVVJGKTGXGPVU 212.319.1660 · 135 West 42nd Street · CharliePalmer.com GZRGTVUVQJGNRYKVJ[QWT GXGPV(QTGZCORNGRGTJCRU PGTHQT[QWTPGZVGXGPV9JKNG O[RTQWFGUVCEEQORNKUJOGPV OQXGQPVQQRGPVJGKTQYP PGZVGXGPV [QWPGGFCXGPWGVQJQUV KVOC[DGJCTFVQOCMGCFG- KUO[HCOKN[sO[YKHG.KUC UWEEGUUHWNTGUVCWTCPVUVQQ+V What do you cook at home? [QWTGXGPVTCVJGTVJCPWUKPI EKUKQPKPVJGDGIKPPKPIQHVJG CPFQWTHQWTUQPU%QWTVNCPF OGCPUYGoTGFQKPIQWTLQDU .KMG+UCKF+JCXGHQWTDQ[UUQ Scale [QWTJQOG6JKUECPDTKPIKP RTQEGUUVJCVoUVJGDGUVVKOG 4CPFCNN'TKECPF4GGF TKIJVKHVJG[CTGUWEEGUUHWN YGECPoVMGGRWR$WTIGTUCTG /CP[RGQRNGECPJCPFNGVJGKT UGXGTCNHCEVQTUVJCV[QWOC[ VQFQKV/CP[RGQRNGFGEKFG CNYC[UCYKPKPQWTJQWUGCPF QYPDKTVJFC[ICVJGTKPIQT PQVDGWUGFVQFGCNKPIYKVJ VQRNCPVJGGXGPVVJGOUGNXGU What are some of the How does your progressive YGoNNWUGGXGT[VJKPIsDGGHRQTM CUOCNNCRCTVOGPVYCTOKPI ;QWOC[PGGFRGTOKVUQT WPVKNVJGTGEQOGUCDTGCMKPI challenges you face in man- American cuisine cater to ICOGGVE5QITKNNKPIKUCNYC[U CNKSWQTNKEGPUG;QWOKIJV RQKPVNCVGTKPVJGRTQEGUU aging a growing and large these trends for events? IQQFHQTWU1PGQHO[HCXQTKVG PGGFVQDGCYCTGQHYJCV YJGPKVIGVUVQQQXGTYJGNO- brand? How do you ensure 2GQRNGECTGUQOWEJOQTG VJKPIUVQUGTXGCVJQOGCPF CVVTKVKQPKU;QWYKNNYCPVVQ KPICPFVJG[OWUVVJGP that quality is the utmost PQYCDQWVVJGHQQFVJG[oTG CNUQVQGCVKUUQOGITGCVCTVK- PGIQVKCVGVJGEQPVTCEVCPF UGGMJGNR6JKUKUKPETGFKDN[ priority in each restaurant UGTXGFCVNCTIGTGXGPVU;QW UCPCNEJGGUGUYKVJTGCNN[HTGUJ MPQYVJCV[QWTTKIJVUCTG JCTFHQTRTQHGUUKQPCNGXGPV venture? 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UNPLUG. UNWIND. UNCORK.

310 West 44th Street 212-803-4545 www.cavatoddenglish.com

S1 A Special Advertising Supplement to Crain’s New York Business A Special Advertising Supplement to Crain’s New York Business S2

pp2-23spread.indd 2 9/19/13 3:13 PM BUSINESS DINING & VENUES

An Interview with Charlie Palmer

Since the beginning of his celebrated career, master Chef and hospitality entrepreneur Charlie Palmer has received critical acclaim for his signature progressive American cuisine, a style DWKNVQPTCODWPEVKQWUƃCXQTUCPFWPGZRGEVGFEQODKPCVKQPU with a deep and lasting infusion of classical French technique.

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From the outset, events YKVJQWVYKUJKPIVJG[JCF JQNKFC[RCTV[9J[!6JGFC[ Eleven notable restaurants EQQMUGXGPFKUJYCUJGTUCTG Are there any other trends seem easy enough to plan JKTGFCRTQHGUUKQPCNDWV[QW QHVJGGXGPV[QWYCPVVQRCT- is quite impressive. What is QWTOQUVKORQTVCPVCUUGV you are seeing in the events on their own. You know JCXGVQEQPUKFGTVJGUECNG VKEKRCVGKPVJGCEVKXKVKGUCPFDG the key to your success? 6TCKPKPIVJGUGGORNQ[GGUKU space as it relates to food, what you want; you already QH[QWTGXGPV+HVJGGXGPV CDNGVQPGVYQTMCPFOKPING 6JCPMU+VJKPMVJGMG[KUEQP- UGEQPFVQPQPGKPOCKPVCKPKPI beverage and menu [QWoTGRNCPPKPIKUUKIPKƂECPVN[ YKVJCVVGPFGGUCPFPQVYQTT[ have one friend to take the UVCPVN[GXQNXKPIsCNYC[UNQQM- CSWCNKV[DTCPF planning? CLASSIC EVENTS pictures and another friend NCTIGTVJCPCP[VJKPI[QWoXG CDQWVCNNVJGUOCNNFGVCKNU KPIHQTYCTFQPJQYVQKORTQXG #ICKPRGQRNGCTGIGVVKPI who will bake delicious FQPGDGHQTGKVOC[DGYQTVJ 6JKUUCOGRJKNQUQRJ[ECP QPYJCVYGoXGFQPGDGHQTG What is your greatest joy in OQTGETGCVKXGCVGXGPVUsHTQO CALL FOR cupcakes, so in your mind DTKPIKPIKPUQOGGZRGTVJGNR CRRN[VQCP[V[RGQHCPGXGPV CPFVQPGXGTFQUQOGVJKPI running the Charlie Palmer HQQFYKPGCPFETCHVEQEMVCKNU A CLASSIC HOTEL. you’re pretty sure you can 6JGVTWVJKUVJCVVJGNCTIGT YJGTG[QWTGZRGTKGPEGKUQPG VJGUCOGYC[VYKEG WPNGUUQH Group? VQFGEQTCPFDGKPIOQTG pull it all off without hiring VJGGXGPVVJGOQTGVJKPIU QHVJGOQUVKORQTVCPVVJKPIU EQWTUGYGIQVKVRGTHGEVVJG +VoURTGVV[HWNƂNNKPIVQYCVEJ KPVGTCEVKXG.QVUQHRGQRNGTG- someone. Weeks down the VJGTGCTGVQVJKPMCDQWV(QQF VQ[QW6JKUKUYJ[RGQRNGJKTG ƂTUVVKOGYJKEJYQWNFDG IW[UVJCVUVCTVGFCUNKPGEQQMU SWGUVVJKPIUNKMGETCHVEQEMVCKN NKPG[QWƂPF[QWTUGNHHGGNKPI CNNGTIKGU4582UGPVGTVCKP- GXGPVRNCPPGTUVQRNCPVJGKT RTGVV[KORTGUUKXG QTKPVGTPUCV#WTGQNGPQY FGOQPUVTCVKQPUQTEQQMKPI QXGTYJGNOGFCPFEQORNGVG- OGPVsVJGUGCTGCNNKORQTVCPV DKTVJFC[RCTVKGUICNCUCPF TWPPKPIVJGUJQYCVQPGQH FGOQPUVTCVKQPUsVJG[YCPVVQ N[UVTGUUGFQWV;QWVJQWIJV EQORQPGPVUQHCPGXGPVVJCV CPPKXGTUCTKGU;QWUJQWNFDG You are a well-respected QWTTGUVCWTCPVUCU'ZGEWVKXG NGCTPJQYVJG[ECPOCMGVJGUG [QWEQWNFFQKV CPF[QWoXG UECNGCU[QWTGXGPVITQYU CDNGVQGPLQ[[QWTPKIJVYKVJ- Chef and restaurateur. %JGHU+VJKPMGXGT[UKPINGQPG MKPFUQHPGYKFGCUCVJQOGQT FQPGKVDGHQTG DWVVJKUVKOG QWVUYGCVKPIVJGUOCNNUVWHH What is your proudest QHQWTJGCFEJGHUUVCTVGFYKVJ JQYVQRTGRCTGCWPKSWGXGIG- KVLWUVIQVQWVQHJCPF*QY Complicated Logistics CPFCRNCPPGTECPEGTVCKPN[ accomplishment? WUCUCPKPVGTPEQQMQTUQWU VCDNGVJG[ECPƂPFCVCHCTOGTU FQ[QWMPQYYJGPKVoUVJG 'XGPKH[QWTGXGPVKUPoVJWIG VCMGECTGQHVJCVHQT[QW #ICKPVJCPM[QW6JCVoUC EJGHCPFJCUPQYYQTMGFVJGKT OCTMGV'XGPVRNCPPGTUCPF TKIJVVKOGVQJKTGCRNCPPGT! CPQVJGTVJKPIVQEQPUKFGT VQWIJQPGDWV+YQWNFJCXG YC[VQVJGVQR#PFVJG[oTG JQUVUCTGRC[KPIOWEJOQTG *GTGCTGCHGYJKPVUVJCVKV KU[QWTHCOKNKCTKV[YKVJVJG 6JGUGCTGLWUVCHGYTGCUQPU VQUC[VJCVCURTQWFCU+COQH CNNGZVTGOGN[VCNGPVGF+VoUCNUQ CVVGPVKQPVQNQECNUWUVCKPCDNG To book your next event, contact [email protected] OC[DGVKOGVQDTKPIKPVJG EQORQPGPVUPGGFGFHQT[QWT [QWOC[YCPVVQJKTGCRNCP- O[TGUVCWTCPVUCPFQWTHQQF ITGCVVQVJGPYCVEJVJGUGIW[U OGPWUCVVJGKTGXGPVU or call 212.661.9600 theroosevelthotel.com GZRGTVUVQJGNRYKVJ[QWT GXGPV(QTGZCORNGRGTJCRU PGTHQT[QWTPGZVGXGPV9JKNG O[RTQWFGUVCEEQORNKUJOGPV OQXGQPVQQRGPVJGKTQYP PGZVGXGPV [QWPGGFCXGPWGVQJQUV KVOC[DGJCTFVQOCMGCFG- KUO[HCOKN[sO[YKHG.KUC UWEEGUUHWNTGUVCWTCPVUVQQ+V What do you cook at home? [QWTGXGPVTCVJGTVJCPWUKPI EKUKQPKPVJGDGIKPPKPIQHVJG CPFQWTHQWTUQPU%QWTVNCPF OGCPUYGoTGFQKPIQWTLQDU .KMG+UCKF+JCXGHQWTDQ[UUQ Scale [QWTJQOG6JKUECPDTKPIKP RTQEGUUVJCVoUVJGDGUVVKOG 4CPFCNN'TKECPF4GGF TKIJVKHVJG[CTGUWEEGUUHWN YGECPoVMGGRWR$WTIGTUCTG /CP[RGQRNGECPJCPFNGVJGKT UGXGTCNHCEVQTUVJCV[QWOC[ VQFQKV/CP[RGQRNGFGEKFG CNYC[UCYKPKPQWTJQWUGCPF QYPDKTVJFC[ICVJGTKPIQT PQVDGWUGFVQFGCNKPIYKVJ VQRNCPVJGGXGPVVJGOUGNXGU What are some of the How does your progressive YGoNNWUGGXGT[VJKPIsDGGHRQTM CUOCNNCRCTVOGPVYCTOKPI ;QWOC[PGGFRGTOKVUQT WPVKNVJGTGEQOGUCDTGCMKPI challenges you face in man- American cuisine cater to ICOGGVE5QITKNNKPIKUCNYC[U CNKSWQTNKEGPUG;QWOKIJV RQKPVNCVGTKPVJGRTQEGUU aging a growing and large these trends for events? IQQFHQTWU1PGQHO[HCXQTKVG PGGFVQDGCYCTGQHYJCV YJGPKVIGVUVQQQXGTYJGNO- brand? How do you ensure 2GQRNGECTGUQOWEJOQTG VJKPIUVQUGTXGCVJQOGCPF CVVTKVKQPKU;QWYKNNYCPVVQ KPICPFVJG[OWUVVJGP that quality is the utmost PQYCDQWVVJGHQQFVJG[oTG CNUQVQGCVKUUQOGITGCVCTVK- PGIQVKCVGVJGEQPVTCEVCPF UGGMJGNR6JKUKUKPETGFKDN[ priority in each restaurant UGTXGFCVNCTIGTGXGPVU;QW UCPCNEJGGUGUYKVJTGCNN[HTGUJ MPQYVJCV[QWTTKIJVUCTG JCTFHQTRTQHGUUKQPCNGXGPV venture? WUGFVQIGVLWUVCHGYQRVKQPU DTGCF9GCNUQJCXGCYQQFƂTG DGKPIEQXGTGF6JGUGCTGCNN RNCPPGTUDGECWUGVJGTGCTG 3WCNKV[KUFGƂPKVGN[CRTKQTKV[ sCƂUJCEJKEMGPQTCUVGCM QXGPVQOCMGRK\\C+VTGCNN[TWPU VJKPIUVJCVCPGXGPVRNCPPGT UKORN[VQQOCP[VJKPIUVJCV GURGEKCNN[YJGP+ECPoVDG 0QY[QWUGGUWEJCJKIJNGXGN VJGICOWVDWVKVoUCNYC[UIQV JCUITGCVGZRGTKGPEGYKVJ PGGFVQDGFQPGGCTN[QPVQ GXGT[YJGTGCVQPEG6JCVoU QHEWKUKPGDGKPIRNCVGFHQT VQDGUQOGVJKPIVJCVGXGT[QPG CPFUQOGVKOGUKVoUYQTVJKP- GPUWTGVJCVGXGT[VJKPITWPU YJ[QWTJWOCPTGUQWTEGUsQWT NCTIGITQWRUCPFKVoUITGCV ECPIGVKPXQNXGFKPCPFYGECP XGUVKPIKPVJGTKIJVRGTUQPKP UOQQVJN[5QsVJGPGZVVKOG EJGHUOCPCIGTUUGTXGTUNKPG VJCVYGCTGCDNGVQQHHGTUQOG UGTXGCPFGCVHCOKN[UV[NG VJGDGIKPPKPIUQ[QWCTGPoV [QWoTGJQUVKPICPGXGPVUKV KPXGUVKPIKPCNCYUWKVQTQVJGT FQYPCPFVJKPMCDQWVCNNVJCV Liz King RTQDNGOUFQYPVJGTQCF KUGPVCKNGFCPFYJCV[QWCTG A frequent guest on NBC’s Today The Art of Aureole CEO, Chief Event Specialist, Liz King Events EQOHQTVCDNGYKVJJCPFNKPI Show, Charlie Palmer is also the Ten Speed Press/2002 Co-Founder, PlannerTech Event Technology Your Important Experience D[[QWTUGNH+H[QWECPRNCP >ÕÌ ÀvwÛiVLÃÆ Charlie Palmer’s Casual Cooking Showcase 1PGQHVJGOQUVEQOOQP VJGGXGPVQP[QWTQYPsVJCVoU Remington Camp Cooking Harper Collins/2001 Executive Producer, Event Alley Show URGEKCNGXGPVUHQTJKTKPICP ITGCV+HPQVCPGXGPVRNCPPGT Remington/2013 Great American Food Charlie Palmer’s Practical Guide Random House/1996 Reach me, [email protected] GXGPVRNCPPGTKUCNCTIGEQTRQ- KUUWTGVQJGNRVJGGZRGTKGPEG to the New American Kitchen Follow me, Twitter.com/lizkingevents TCVGGXGPVUWEJCUVJGCPPWCN EQOGVQIGVJGTUGCONGUUN[ Melcher Media/2006

S1 A Special Advertising Supplement to Crain’s New York Business A Special Advertising Supplement to Crain’s New York Business S2

pp2-23spread.indd 3 9/19/13 3:13 PM nb38p24-27cl.qxp 9/20/2013 11:24 AM Page 24

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Arts of Org filed with SSNY designated as agent upon served and shall mail copy of process to Alan M. Friedman, Esq., Kellner successful invest’g w/ positive performance & Secy of State of NY (SSNY) on whom process may be served and against LLC to: CT Corporation Herlihy Getty & Friedman, LLP, 470 alpha generation on both the long & short 5/7/13. Office location: NY County. shall mail copy of process against System, 111 Eighth Ave, NY, NY Park Avenue South, 7N, NY, NY side. Exp may be gained concurrently. Resume: SSNY designated as agent upon LLC to principal business address: 10011. Principal business address: 10016. Purpose: Any lawful activity. whom process may be served and 401 E 62nd St, Apt 2B, NY, NY 225 Nod Rd., Ridgefield, CT 06877. ER/LW, Attn: R-0195, Citadel LLC, 131 S THE CLASSICAL MUSICIANS’ Dearborn St, 32nd Fl, Chicago, IL 60603. shall mail copy of process against 10065. Purpose: any lawful act. Purpose: any lawful act. LLC to principal business address: REHEARSAL SYMPHONY c/o Savant Financial Technologies Notice of Formation of ANDREAS NOTICE OF FORMATION OF ORCHESTRA, LLC, a domestic LLC, Bookkeeping, Payroll, Pay ANASTASIS LLC. Arts. of Org. filed MOOSTACHIO LLC. Arts of Org filed Arts. of Org. filed with the SSNY on Receiver and Auditing Clerks Inc., 1375 Broadway, 3rd Fl, NY, NY 10018. Purpose: any lawful act. with Secy. of State of NY (SSNY) on with Secy of State of NY (SSNY) on 7/30/13. Office location: New York Access our statewide or regional 05/17/13. Office location: NY County. 3/15/10. Office location: NY County. County. SSNY is designated as agent occupation report for more information NOT. OF FRMN of Hongdao LLC. SSNY designated as agent of LLC SSNY designated as agent upon upon whom process against the LLC about wages, employment outlooks, Art. of Org. f w/ Secy of STA of NY upon whom process against it may be whom process may be served and may be served. SSNY shall mail skills, training programs, related (SSNY) 08/23/13. OFC LCTN: NY served. SSNY shall mail process to shall mail copy of process against process to: Arlene Stock, 531 Main St., occupations, and more. Cty. SSNY is DA upon whom PROC Corporation Service Co., 80 State St., LLC to: 60 Henry St, #15F, NY, NY #1603, Roosevelt Island, NY 10044. Interested candidates should email a AGA it may be served. SSNY shall Albany, NY 12207, regd. agent upon 10002. Purpose: any lawful act. General Purposes. Cover Letter and Resume with mail a CY: C/O Hongdao LLC - 1500 whom and at which process may be Notice of Formation of SEREN 239, references to: Broadway 22nd Fl, NY, NY 10036. served. Purpose: Any lawful activity. Notice of Formation of CANNON/STUART MANAGEMENT, LLC. Arts. of Org. filed with Secy. of [email protected], and include The Prin. bus. add.:1500 Broadway, Notice of Formation of FR GLOBAL State of NY (SSNY) on 07/16/13. subject line: “Payroll/Pay Receiver 22nd Fl, NY, NY 10036. PUR: any LLC. Arts. of Org. filed with Secy. of ADVISORS LLC. Arts. of Org. filed State of NY (SSNY) on 08/14/13. Office location: NY County. Princ. Candidate”. lawful act or ACTY. with Secy. of State of NY (SSNY) on Office location: NY County. SSNY office of LLC: c/o Shvo, 724 Fifth Ave., We are accepting applications now and Notice of Formation of 3660 07/25/13. Office location: NY County. designated as agent of LLC upon whom NY, NY 10019. SSNY designated as will conduct interviews until position is SSNY designated as agent of LLC process against it may be served. agent of LLC upon whom process filled. BROADWAY BCR, LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) upon whom process against it may be SSNY shall mail process to c/o Cole, against it may be served. SSNY on 08/06/13. Office location: NY served. SSNY shall mail process to Schotz, Meisel, Forman & Leoanrd, shall mail process to the LLC at the County. Princ. office of LLC: 20803 Corporation Service Co., 80 State St., P.A., 900 Third Ave., 16th Fl., NY, NY addr. of its princ. office. Purpose: TELECOMMUNICATIONS Biscayne Blvd., Ste. 301, Aventura, FL Albany, NY 12207, regd. agent upon 10022. Purpose: Any lawful activity. Any lawful activity. 33180. SSNY designated as agent of whom and at which process may be Carnegie Hill Optometry, PLLC, LLC upon whom process against it served. Purpose: Any lawful activity. NOTICE OF FORMATION OF JJJ Real Articles of Organization filed with may be served. SSNY shall mail Estate, LLC. Arts of Org filed with Secy Notice of Formation of BGCH Secretary of State of NY (SSNY) on process to the LLC at the addr. of its of State of NY (SSNY) on 6/28/13. Apartments Managers LLC. Arts. of 04/16/13. Office Location: NY County. princ. office. Purpose: Real estate. Office location: NY County. SSNY 33 East 33rd Street Org. filed with Secy. of State of NY SSNY designated as agent of LLC upon designated as agent upon whom New York, NY 10016 Notice of Qual. of One Hudson Yards (SSNY) on 8/20/13. Office location: whom process against it may be served. process may be served and shall mail 212-532-7400 Owner LLC, Auth. filed Sec’y of State NY County. SSNY designated as SSNY shall mail a copy of process to: copy of process against LLC to: CT [email protected] (SSNY) 5/14/13. Office loc.: NY County. agent of LLC upon whom process The PLLC, 1387 Madison Ave., New Corporation System, 111 Eighth Ave, LLC org. in DE 5/13/13. SSNY desig. against it may be served. SSNY shall York, NY 10029. Purpose: to engage NY, NY 10011. Principal business EMERGENCY as agent of LLC upon whom process mail process to: The LLC, c/o in the profession of Optometry. address: 225 Nod Rd, Ridgefield, CT COMMUNICATIONS against it may be served. SSNY shall Monadnock Construction, Inc., 155 06877. Purpose: any lawful act. 719 WEST HAMILTON HEIGHTS mail copy of proc. to CSC, 80 State St., 3rd St., Brooklyn, NY 11231. SYSTEMS ASSOCIATES, LLC, a foreign LLC, Notice of Qual. of Roystone Capital Albany, NY 12207. DE off. addr.: CSC, Purpose: any lawful activity. SPECIALISTS filed with the SSNY on 6/21/13. Holdings LLC, Auth. filed Sec’y of 2711 Centerville Rd., Wilmington, DE • FREE PICKUP & DELIVERY Notice of Formation of CONGREVE Office location: New York County. State (SSNY) 2/19/13. Office loc.: NY 19808. Cert. of Form. on file: SSDE, LLC. Arts. of Org. filed with Secy. of SSNY is designated as agent upon County. LLC org. in DE 11/16/12. SSNY • 48 HOUR TURNAROUND Townsend Bldg., Dover, DE 19901. ON REPAIRS State of NY (SSNY) on 08/27/13. whom process against the LLC may desig. as agent of LLC upon whom Purp.: any lawful activities. Office location: NY County. SSNY process against it may be served. • FREE ENGRAVING be served. SSNY shall mail process designated as agent of LLC upon to: The LLC, 369 E. 62nd St., NY, NY SSNY shall mail copy of proc. to Att: NOTICE OF FORMATION OF • SHORT & LONG TERM whom process against it may be 10021. General Purposes. Richard Barrera, 767 Third Ave., 6th RENTALS CVfromGreece LLC. Arts of Org filed served. SSNY shall mail process to Fl., NY, NY 10017. DE off. addr.: CSC, with Secy of State of NY (SSNY) on G. Warren Whitaker, Day Pitney LLP, Notice of formation of CITYWIDE 2711 Centerville Rd., Wilmington, DE 6/13/13. Office location: NY County. 7 Times Square, NY, NY 10036-7311. COMMERCIAL REALTY LLC Arts. of 19808. Cert. of Form. on file: SSDE, SSNY designated as agent upon Purpose: Any lawful activity. Org. filed with the Sect’y of State of Townsend Bldg., Dover, DE 19901. whom process may be served and NY (SSNY) on 1/11/2013. Office Purp.: any lawful activities. shall mail copy of process against NOTICE OF FORMATION OF BCS location, County of New York. SSNY LLC to principal business address: Executive Security, LLC. Arts of Org has been designated as agent of the Notice of Formation of Professional 10 Barclay St, #52A, NY, NY 10007. filed with Secy of State of NY (SSNY) LLC upon whom process against it Limited Liability Company: wanta- Purpose: any lawful act. on 7/11/13. Office location: NY may be served. SSNY shall mail architect PLLC. Articles of Organization County. SSNY designated as agent process to: The LLC, 235 West 56th filed with Secretary of State of NY PUBLIC & LEGAL Notice of Formation of JOLIET upon whom process may be served St., Suite 36P, NY NY 10019. (SSNY) on 6/6/2013. Office Location: NOTICES CROSSINGS HOLDINGS LLC. Arts. and shall mail copy of process Purpose: any lawful act. NY County. SSNY has been designated of Org. filed with Secy. of State of NY against LLC to: 115 Stuyvesant as agent upon whom process may be NOTICE OF QUALIFICATION of (SSNY) on 08/09/13. Office location: Place, Staten Island, NY 10301. Notice of formation of Zhang’s served and shall mail copy of process Rosenbloom Advisors, LLC. Arts of Org NY County. Princ. office of LLC: c/o Principal business address: 1441 International, L.L.C. Article of organi- against PLLC to principal business filed with Secy of State of NY (SSNY) Cohen Commercial Properties, 9 E. Broadway, 3rd Flr, NY, NY 10018. zation filed with the Secretary of State address: 66 Crosby Street, #3D, New on 4/11/13. Office location: NY County. 40th St., 10th Fl., NY, NY 10016. Purpose: any lawful act. of New York SSNY on May 24, 2013. York, NY, 10012. Purpose/character LLC formed in IL on 10/18/12. SSNY SSNY designated as agent of LLC Office located in New York. SSNY has of PLLC: any lawful act. designated agent upon whom process upon whom process against it may Notice of Qualification of PWP Growth been designated for service of process. may be served and shall mail copy of be served. SSNY shall mail process Equity Fund I (B) LP. Authority filed SSNY shall mail copy of any process Notice of Qualification of 210 BEDFORD process against LLC to principal to the LLC at the addr. of its princ. with Secy. of State of NY (SSNY) on served against the LLC.: located at INVESTORS IIA, LLC. Authority filed business: 1551 Mill Trail, Highland office. Purpose: Any lawful activity. 08/08/13. Office location: NY County. 325 W 38th St, Apt. 602, New York, NY with Secy. of State of NY (SSNY) on Park, IL 60035. Cert. of LLC filed LP formed in Delaware (DE) on 10018 Purpose: any lawful purpose. 07/24/13. Office location: NY County. with Secy of State of IL located at: Notice of Qualification of Wayport, 03/18/13. Princ. office of LP: PWP LLC formed in Delaware (DE) on 213 State Capitol, Springfield, IL LLC. Authority filed with NY Dept. of Growth Equity Fund I GP LLC, c/o Notice of Qualification of DRAGON 06/27/13. Princ. office of LLC: 10 E. 62756. Purpose: any lawful act. State on 9/4/13. Office location: NY Perella Weinberg Partners Capital OPERATIONS, LLC. Authority filed 53rd St., 37th Fl., NY, NY 10022. County. Princ. bus. addr.: 208 S. Akard Management LP, 767 Fifth Ave., NY, with Secy. of State of NY (SSNY) on SSNY designated as agent of LLC MARVEL ARCHITECTS PLLC filed St., Rm. 3028, Dallas, TX 75202. LLC NY 10153. SSNY designated as agent 08/02/13. Office location: NY County. upon whom process against it may Articles of Organization with the formed in DE on 12/31/12. NY Sec. of LP upon whom process against it LLC formed in Delaware (DE) on be served. SSNY shall mail process Department of State of NY on of State designated agent of LLC may be served. SSNY shall mail 06/24/13. SSNY designated as agent to Corporation Service Co. (CSC), 80 7/11/2013. Office Location: County upon whom process against it may process to the LP at the addr. of its of LLC upon whom process against State St., Albany, NY 12207-2543, of New York. The Secretary of State be served and shall mail process to: princ. office. Name and addr. of each it may be served. SSNY shall mail regd. agent upon whom and at of NY (“SSNY”) has been designated c/o CT Corporation System, 111 8th general partner are available from process to c/o Corporation Service which process may be served. DE as agent of the PLLC upon whom Ave., NY, NY 10011, regd. agent SSNY. DE addr. of LP: c/o Co. (CSC), 80 State St., Albany, NY addr. of LLC: c/o CSC, 2711 process against it may be served. upon whom process may be served. Corporation Service Co., 2711 12207-2543. DE addr. of LLC: c/o Centerville Rd., Ste. 400, Wilmington, SSNY shall mail a copy of any such DE addr. of LLC: 1209 Orange St., Centerville Rd., Ste. 400, Wilmington, CSC, 2711 Centerville Rd., Ste. 400, New Castle Cnty., DE 19808. Arts. of process served to: c/o Goetz Wilmington, DE 19801. Cert. of DE 19808. Arts. of Org. filed with Wilmington, DE 19808. Arts. of Org. Org. filed with DE Secy. of State, Div. Fitzpatrick LLP, One Penn Plaza, Form. filed with DE Sec. of State, State of DE, Secy. of State, Div. of filed with DE Secy. of State, 401 of Corps., John B. Townsend Bldg., # 4401, NY, NY 10119. Purpose: to 401 Federal St., Dover, DE 19901. Corps., 401 Federal St., Dover, DE Federal St., Ste. 4, Dover, DE 19901. 401 Federal St., Ste. 4, Dover, DE practice architecture. Purpose: all lawful purposes. 19901. Purpose: Any lawful activity. Purpose: Any lawful activity. 19901. Purpose: Any lawful activity.

24 | Crain’s New York Business | September 23, 2013 nb38p24-27cl.qxp 9/20/2013 11:25 AM Page 25

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of SFERRA Notice of Qualification of CWPY Notice of Qualification of Apria Notice of Qual. of Reef Road GP LLC, NOTICE OF FORMATION OF LIMITED Fine Linens, LLC. Authority filed with Construction Investors LLC. Authority Healthcare LLC. Authority filed with Auth. filed Sec’y of State (SSNY) LIABILITY COMPANY. NAME: 143-48 NY Dept. of State on 8/12/13. Office filed with Secy. of State of NY (SSNY) NY Dept. of State on 7/1/13. Office 2/20/13. Office loc.: NY County. LLC 41ST AVENUE, LLC. Application for location: NY County. Princ. bus. addr.: on 07/25/13. Office location: NY location: NY County. Princ. bus. addr.: org. in DE 2/19/13. SSNY desig. as Authority was filed with the Secretary 15 Mayfield Ave., Edison, NJ 08837. County. LLC formed in Delaware (DE) 26220 Enterprise Ct., Lake Forest, CA agent of LLC upon whom process of State of New York (SSNY) on LLC formed in DE on 7/30/13. NY Sec. on 02/12/13. Princ. office of LLC: 60 92630. LLC formed in DE on 3/30/84. against it may be served. SSNY shall 04/04/13. The LLC was originally filed of State designated agent of LLC upon Columbus Circle, 19th Fl., NY, NY NY Sec. of State designated agent of mail copy of proc. to Att: Eric Rosen, with the Secretary of State of whom process against it may be 10023. SSNY designated as agent of LLC upon whom process against it 747 Third Ave., 19th Fl., NY, NY Delaware on 04/01/13. Office location: served and shall mail process to: CT LLC upon whom process against it may be served and shall mail process 10017. DE off. addr.: CSC, 2711 New York County. SSNY has been Corporation System, 111 8th Ave., may be served. SSNY shall mail to: c/o National Registered Agents, Inc. Centerville Rd., Wilmington, DE designated as agent of the LLC upon NY, NY 10011. DE addr. of LLC: 1209 process to c/o Corporation Service (NRAI), 111 8th Ave., NY, NY 10011, 19808. Cert. of Form. on file: SSDE, whom process against it may be Orange St., Wilmington, DE 19801. Co. (CSC), 80 State St., Albany, NY regd. agent upon whom process may Townsend Bldg., Dover, DE 19901. served. SSNY shall mail a copy of Cert. of Form. filed with DE Sec. of 12207-2543. DE addr. of LLC: CSC, be served. DE addr. of LLC: c/o NRAI, Purp.: any lawful activities. process to the LLC, 552 Main Street, State, Townsend Bldg., Dover, DE 2711 Centerville Rd., Ste. 400, 160 Greentree Dr., Ste. 101, Dover, DE Roosevelt Island, New York 10044. 19901. Purpose: all lawful purposes. Wilmington, DE 19808. Arts. of Org. 19904. Cert. of Form. filed with DE Sec. Notice of Formation of Interiors by Purpose: For any lawful purpose. filed with DE Secy. of State, 401 of State, 401 Federal St., Dover, DE Elissa, LLC. Arts. of Org. filed with Notice of Formation of City Hall Federal St., Ste. 4, Dover, DE 19901. 19901. Purpose: all lawful purposes. Secy. of State of NY (SSNY) on Notice of Formation of WSTC EVENTS Coffee LLC. Arts. of Org. filed with Purpose: Any lawful activity. 7/25/13. Office location: NY County. LLC. Arts. of Org. filed with Secy. of NY Dept. of State on 2/20/13. Office Notice of Formation of CIRQUE SSNY designated as agent of LLC State of NY (SSNY) on 05/21/13. Office location: NY County. Princ. bus. addr.: Notice of Formation of SAR III, LLC. PARALLEL LLC. Arts. of Org. filed upon whom process against it may location: NY County. Princ. office of 255 Canal St., Ste. 301, NY, NY Arts. of Org. filed with Secy. of State with Secy. of State of NY (SSNY) on be served. SSNY shall mail process LLC: 1140 Broadway, 4th Fl., NY, NY 10013. Sec. of State designated of NY (SSNY) on 07/19/13. Office 08/16/13. Office location: NY County. to: National Corporate Research, 10001. SSNY designated as agent of agent of LLC upon whom process location: NY County. Princ. office of SSNY designated as agent of LLC Ltd., 10 E. 40th St., 10th Fl., NY, NY LLC upon whom process against it may against it may be served and shall LLC: 1 Penn Plaza, NY, NY 10119. upon whom process against it may be 10016, the registered agent upon be served. SSNY shall mail process mail process to: c/o Justin M. SSNY designated as agent of LLC served. SSNY shall mail process to c/o whom process may be served. to the LLC at the addr. of its princ. Zamparelli, Esq., Withers Bergman upon whom process against it may Grant, Herrmann, Schwartz & Klinger Purpose: any lawful activity. office. Purpose: Any lawful activity. LLP, 430 Park Ave., 10th Fl., NY, NY be served. SSNY shall mail process LLP, 675 Third Ave., 26th Fl., NY, NY 10022. Purpose: all lawful purposes. to Valley National Bank, 1455 Valley 10017. Purpose: Any lawful activity. Notice of Formation of Gaming JSK At 200 Riverside, LLC. Appl. for Rd., Wayne, NJ 07470. Purpose: Any Management, LLC. Arts. of Org. filed Auth. filed with Secy. of State of NY NOTICE OF FORMATION OF LIMITED lawful activity. Notice of Formation of Marca Studio with Secy. of State of NY (SSNY) on (SSNY) on 07/23/13. Off. loc: NY Co. LIABILITY COMPANY. NAME: PIANO I LLC. Arts of Org filed with Secy of 3/12/13. Office location: NY County. Orig. juris: DE. SSNY designated as NOTICE OF FORMATION OF Teng Tea LLC. Application for Authority was State of NY (SSNY) on 6/27/13. SSNY designated as agent of LLC agent of LLC upon whom process LLC. Arts of Org filed with Secy of filed with the Secretary of State of New Office location: NY County. SSNY upon whom process against it may be may be served. SSNY shall mail State of NY (SSNY) on 3/4/13. Office York (SSNY) on 08/14/13. The LLC designated agent upon process may be served. SSNY shall mail process to: c/o process to 200 Riverside Blvd, #16A, location: NY County. SSNY designated was originally filed with the Secretary served and shall mail copy of process Merle Brown & Nakamura, P.C., 90 Attn: Amy B. Schneidkraut Kessler. as agent upon whom process may be of State of Delaware on 02/08/13. against LLC to principal business Broad St., Ste. 2201, NY, NY 10004- Purpose: General. Office location: New York County. SSNY served and shall mail copy of process address: 533 E 6th Street, #5, NY, 2271. Purpose: any lawful purpose. has been designated as agent of the against LLC to: 88 2nd Ave #9, NY, NY NY 10009. Purpose: any lawful act. LLC upon whom process against it 10003. Principal business address: Notice of Formation of 352E55RS, LLC. may be served. SSNY shall mail a copy 123 E 7th St, NY, NY 10009. Notice of Formation of Logan Spamer GOLDEN CAPITAL GUARANTY LLC, Arts. of Org. filed with Secy. of State of process to the LLC, 45 East 65th Purpose: any lawful act. Enterprises, LLC, Art. of Org. filed a domestic LLC, Arts. of Org. filed of NY (SSNY) on 08/05/13. Office Street, New York, New York 10065. Sec’y of State (SSNY) 2/13/13. Office with the SSNY on 3/19/13. Office location: NY County. Princ. office of Purpose: For any lawful purpose. Notice of Formation of KRR Queens 3 location: NY County. SSNY designated location: New York County. SSNY is LLC: 230 W. 39th St., 10th Fl., NY, NY LLC. Arts. of Org. filed with Secy. of as agent of LLC upon whom process designated as agent upon whom 10018. SSNY designated as agent of Notice of Formation of BLUEH20 State of NY (SSNY) on 7/3/13. Office against it may be served. SSNY shall process against the LLC may be LLC upon whom process against it may HOLDINGS, LLC. Arts. of Org. filed location: NY County. SSNY designated mail copy of process to Att: Donovan served. SSNY shall mail process to: be served. SSNY shall mail process to with Secy. of State of NY (SSNY) on as agent of LLC upon whom process Spamer, 60 Sutton Place S., NY, NY The LLC, 575 Madison Ave, 10th Fl., Sandeep Girdhar at the princ. office of 09/05/13. Office location: NY County. against it may be served. SSNY shall 10022. Purpose: any lawful activities. NY, NY 10022. General Purposes. the LLC. Purpose: Any lawful activity. Princ. office of LLC: c/o Richard mail process to: Richard A. Merhige, Zirinsky, Jr., 60 E. 56th St., 9th Fl., c/o Regency International, 11 East NOTICE OF FORMATION OF JFX LIN NOTICE OF FORMATION OF NOTICE OF FORMATION OF JC NY, NY 10022. SSNY designated as 26th St., NY, NY 10010. Purpose: LLC. Arts of Org filed with Secy of Ruchelman P.L.L.C. Arts of Org filed Restaurants, LLC. Arts of Org filed agent of LLC upon whom process any lawful activities. State of NY (SSNY) on 6/11/13. Office with Secy of State of NY (SSNY) on with Secy of State of NY (SSNY) on against it may be served. SSNY location: NY County, SSNY designated 8/8/13. Office location: NY County. 6/28/13. Office location: NY County. shall mail process to the LLC at the Notice of Formation of Euro Mec Water as agent upon whom process may be SSNY designated agent upon whom SSNY designated as agent upon whom addr. of its princ. office. Purpose: Group USA, LLC. Arts. of Org. filed served and shall mail copy of process process may be served and shall process may be served and shall mail Any lawful activity. with NY Dept. of State on 7/22/13. against LLC to principal business mail copy of process against PLLC copy of process against LLC to: CT Office location: NY County. Princ. bus. address: 173 STANTON ST, #3, NY, to principal business address: 150 E. Corporation System, 111 Eighth Ave, Notice of Formation of HDL NY L.P. addr.: 250 Park Ave., 7th Fl., NY, NY NY, 10002. Purpose: any lawful act. 58th St, 22nd Flr, NY, NY 10155. NY, NY 10011. Principal business Cert. of LP filed with Secy. of State 10177. Sec. of State designated Purpose: any lawful act. address: 225 Nod Rd, Ridgefield, CT of NY (SSNY) on 07/19/13. Office agent of LLC upon whom process Notice of Formation of Cantillon & 06877. Purpose: any lawful act. location: NY County. Latest date on against it may be served and shall Mann LLC. Arts. of Org. filed with NOTICE OF QUALIFICATION of which the LP may dissolve is 7/16/2113. mail process to: c/o Wilk Auslander Secy. of State of NY (SSNY) on SunBurger 4 LLC. Authority filed with Notice of Formation of ANSE SALINE SSNY designated as agent of LP LLP, 1515 Broadway, 43rd Fl., NY, NY 5/23/13. Office location: NY County. Secy of State of NY (SSNY) on LLC. Arts. of Org. filed with Secy. of upon whom process against it may 10036. Purpose: all lawful purposes. SSNY designated as agent of LLC 7/2/13. Office location: NY County. State of NY (SSNY) on 08/22/13. be served. SSNY shall mail process upon whom process against it may LLC formed in DE on 4/19/13. SSNY Office location: NY County. SSNY to Satterlee Stephens Burke & Burke Notice of Formation of 9 Vandam be served. SSNY shall mail process designated agent upon whom designated as agent of LLC upon LLP, Attn: Kirk O’Ferrall, 230 Park Street Associates I LLC. Arts. of to: John L. McCormack, 181 E. 73rd process may be served and shall whom process against it may be served. Ave., Ste. 1130, NY, NY 10169. Org. filed with Secy. of State of NY St., Apt. 12C/D, NY, NY 10021. mail copy of process against LLC to SSNY shall mail process to M. Nader Name and addr. of each general (SSNY) on 7/25/13. Office location: Purpose: any lawful activity. principal business address: 261 Ahari, 524 Broadway, Ste. 405, NY, NY partner are available from SSNY. NY County. SSNY designated as Madison Ave, 9/Fl, NY, NY 10016. 10012. Purpose: Any lawful activity. Purpose: Any lawful activity. agent of LLC upon whom process LATIN TALENT OF AMERICA, LLC, a DE address of LLC: c/o CSC, 2711 against it may be served. SSNY domestic LLC, Arts. of Org. filed with Centerville Rd, Ste 400, Wilmington, NCC360 LLC, a domestic LLC, Arts. Notice of formation of Urban Island shall mail process to: The Company, the SSNY on 7/18/13. Office location: DE 19808. Cert of LLC filed with of Org. filed with the SSNY on Games LLC. Articles of Organization 401 West 45th St., NY, NY 10036. New York County. SSNY is designated Secy of State of DE located: 401 5/2/13. Office location: New York filed with the Secretary of State of NY Purpose: any lawful activities. as agent upon whom process against Federal St, Ste 4, Dover, DE 19901. County. SSNY is designated as (SSNY) on 05/28/13. Office location: the LLC may be served. SSNY shall Purpose: any lawful act. agent upon whom process against New York County. SSNY has been Notice of Qualification: Pronology, mail process to: The LLC, 15 William St., the LLC may be served. SSNY shall designated as agent upon whom LLC. Application of Authority filed #18, NY, NY 10005. General Purposes. Notice of Formation of Limited Liability mail process to: Caputo & Boncardo, process against it may be served. with SSNY on 08/23/2013. Office Company (LLC). Name: NY STAYS LLC. CPAS, 538 Westchester Ave., Rye The Post Office address to which the location: New York County. LLC NOTICE OF FORMATION OF Law Articles of Organization filed by the Brook, NY 10573. General Purposes. SSNY shall mail a copy of any formed in California on 05/17/2013. Office of Shane D. Fuhrman PLLC. Department of State of New York on: process against the LLC served Address to which SSNY mail a copy Arts of Org filed with Secy of State 08/21/2013. A Certificate of Amendment Notice of Formation of Maine Line upon him/her is: Christopher G. Reid of any process against LLC: 17785 of NY (SSNY) on 6/26/13. Office changing the name to: NK STAYS Productions, LLC. Arts. of Org. filed Esq., 116 Third Pl. #3, Brooklyn, NY Center Court Drive, Suite 600 location: NY County. SSNY designated LLC was filed in: 08/27/2013. Office with Secy. of State of NY (SSNY) on 11231. The principal business Cerritos, CA 90703. Principal business as agent upon whom process may location: County of New York. 7/2/13. Office location: NY County. address of the LLC is: 690 Fort address of the LLC: 3626 Hightide be served and shall mail process Purpose: any and all lawful activities. SSNY designated as agent of LLC Washington Ave, Apt 6K, New York, Dr. Rancho Palos Verdes, CA 90275. against PLLC to principal business Secretary of State of New York upon whom process against it may be NY 10040. Duration: Perpetual. Certificate of LLC filed with Secy of address: 24 5th Ave, Apt 612A, NY, (SSNY) designated as agent of LLC served. SSNY shall mail process to Purpose: any lawful act or activity. State of CA located: 1500 11th NY 10011. Purpose: any lawful act. upon whom process against it may princ. bus. loc.: The LLC, 47 Great Street, Sacramento, CA 95814. be served. SSNY shall mail a copy of Jones St., New York, NY 10012-1196. Notice of Qualification of SUIT SUPPLY Notice of Formation of Princeton process to: 115 Broadway, Ste 302, Purpose: any lawful activity. B.V. Authority filed with Secy. of State Notice of Formation; Integrity Square Greene LLC, Art. of Org. filed Sec’y New York, NY 10006. of NY (SSNY) on 08/27/13. Office LLC Application for Authority filed of State (SSNY) 11/30/12. Office NOTICE OF AUTHORIZATION OF location: NY County. LLC formed in with SSNY on 1/4/2012. Off. Loc.: New location: NY County. SSNY designated NOTICE OF AUTHORIZATION OF FOREIGN LLC. Name: Iguana The Netherlands on 11/29/99. Princ. York Cnty. Arts. of Org. filed with SSDE as agent of LLC upon whom process FOREIGN LLC. Name: Iguana Healthcare Partners, LLC. Date of office of LLC: 453 Broome St., NY, NY on 2/24/2010. SSNY designated as against it may be served. SSNY shall Healthcare Management, LLC. Date formation: 8/25/08. Date Authorized: 10013. SSNY designated as agent of agent of LLC whom process may be mail copy of process to 375 Park of formation: 7/10/09. Date Authorized: 7/25/13. Jurisdiction of Organization: LLC upon whom process against it served. SSNY shall mail process to: Ave., Ste. 3401, NY, NY 10152. 7/25/13. Jurisdiction of Organization: Delaware. Principal Office: 551 5th may be served. SSNY shall mail c/o the LLC, 49 West 23rd Street, 10th Purpose: any lawful activities. Delaware. Principal Office: 551 5th Ave., Ste. 1120, NY NY 10176. SSNY process to the LLC at the princ. office Floor, New York, NY 10010. Address Ave., Ste. 1120, NY, NY 10176. SSNY desig. agent of LLC upon whom of the LLC. The Netherlands addr. of required to be maintained in DE: c/o NOTICE OF FORMATION OF desig. agent of LLC upon whom process may be served. SSNY shall LLC: Joop Geesinkweg 209, 1096AV National Registered Agents Inc., 160 TATANY MIRACLE LLC. Arts of Org process may be served. SSNY shall mail copy of process to: 551 5th Amsterdam, The Netherlands. Arts. Greentree Drive, Suite 101, Dover, DE filed with Secy of State of NY (SSNY) mail copy of process to: 551 5th Ave., Ave., Ste. 1120, NY NY 10176. of Org. filed with The Netherlands 19904, County of Kent. Name and on 6/25/13. Office location: NY Ste. 1120, NY, NY 10176. Registered Registered Agent: Corporation Trust Chamber of Commerce Commercial address of the authorized officer in DE County. SSNY designated as agent Agent: Corporation Trust Co., 1209 Co., 1209 Orange St., Wilmington, Register Extract, Comeniusstraat 10, where copy of Arts. of Org. is filed: upon whom process may be served Orange St., Wilmington, DE 19801. DE 19801. Officer in jurisdiction of P.O. Box 68, 1800 AB Alkmaar, Secretary of State of Delaware, John and shall mail copy of process Officer in jurisdiction of formation formation where arts of org are filed: Netherlands. Purpose: International G. Townsend Bldg., Federal and Duke against LLC to principal business where arts of org are filed: Delaware Delaware Sec. of State, 401 Federal fashion-design company; retailer of of York Streets, Dover, DE 19901. address: 1400 2ND AVE, NY, NY Sec. of State, 401 Federal St., Dover, DE St., Dover, DE 19901. Purpose: Any high-end men’s clothing. Purpose: all lawful activities. 10021. Purpose: any lawful act. 19901. Purpose: Any lawful purpose. lawful purpose.

September 23, 2013 | Crain’s New York Business | 25 nb38p24-27cl.qxp 9/20/2013 11:25 AM Page 26

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of L&L 380 Notice of Qualification of ABV MADISON Notice of Qualification of Avid Notice of Qualification of Baker Bros. NOTICE OF FORMATION OF LIMITED MADISON LEASING AGENT LLC. BLOCKER LLC. Authority filed with Technology Professionals, LLC. Advisors LP. Authority filed with NY LIABILITY COMPANY. NAME: 25 CPW Authority filed with Secy. of State of NY Secy. of State of NY (SSNY) on Authority filed with Secy. of State of NY Dept. of State on 7/30/13. Office 18I LLC. Articles of Organization (SSNY) on 08/08/13. Office location: 07/22/13. Office location: NY County. (SSNY) on 8/14/13. Office location: location: NY County. Princ. bus. addr.: were filed with the Secretary of State NY County. LLC formed in Delaware LLC formed in Delaware (DE) on NY County. LLC formed in Maryland 667 Madison Ave., 21st Fl., NY, NY of New York (SSNY) on 08/23/13. The (DE) on 08/06/13. Princ. office of LLC: 07/17/13. Princ. office of LLC: c/o (MD) on 8/8/03. SSNY designated 10065. LP formed in DE on 1/3/00. NY latest date of dissolution is 12/31/2113. c/o L&L Holding Company, LLC, 142 Perella Weinberg Partners Capital as agent of LLC upon whom process Sec. of State designated agent of LP Office location: New York County. W. 57th St., NY, NY 10019. SSNY Management LP, 767 Fifth Ave., NY, NY against it may be served. SSNY upon whom process against it may be SSNY has been designated as agent designated as agent of LLC upon whom 10153. SSNY designated as agent of shall mail process to: National served and shall mail process to: c/o of the LLC upon whom process process against it may be served. SSNY LLC upon whom process against it Registered Agents, Inc., 111 Eighth CT Corporation System, 111 8th Ave., against it may be served. SSNY shall shall mail process to c/o Corporation may be served. SSNY shall mail process Ave., NY, NY 10011, also the registered NY, NY 10011, regd. agent upon whom mail a copy of process to the LLC, Service Co., 80 State St., Albany, NY to the LLC at the princ. office of the agent. Address to be maintained in process may be served. DE addr. of 511 East 78th Street, #1G, New York, 12207-2543. DE addr. of LLC: 2711 LLC. DE addr. of LLC: Corporation MD: 6996 Columbia Gateway Dr., Ste. LP: 1209 Orange St., Wilmington, New York 10021. Purpose: For any Centerville Rd., Ste. 400, Wilmington, Service Co., 2711 Centerville Rd., Ste. 204, Columbia, MD 21046. Arts of DE 19801. Name/addr. of genl. ptr. lawful purpose. DE 19808. Arts. of Org. filed with Secy. 400, Wilmington, DE 19808. Arts. of Org. filed with the MD Dept. of available from NY Sec. of State. Cert. of State, Div. of Corps., 401 Federal Org. filed with Secy. of State, State of Assessment and Taxation, c/o Robert of LP filed with DE Sec. of State, 401 Notice of Formation of CA 2952 St., Ste. 4, Dover, DE 19901. Purpose: DE, Dept. of State, Townsend Bldg., E. Young, 301 W. Preston St., Federal St., Dover, DE 19901. HOLDINGS LLC. Arts. of Org. filed Any lawful activity. 401 Federal St., Dover, DE 19901. Baltimore, MD 21201. Purpose: any Purpose: all lawful purposes. with Secy. of State of NY (SSNY) on Purpose: Investments. lawful activities. 8/30/13. Office location: NY County. NOTICE OF FORMATION OF Beth NOTICE OF FORMATION of SSNY designated as agent of LLC Zisman & Company LLC. Arts of Org Notice of Formation of DePaola Notice of formation of Limited Liability BLUEOCEAN EQUITY MANAGEMENT upon whom process against it may filed with Secy of State of NY (SSNY) Valdes, L.L.P. Arts of Org filed with Company (“LLC”). Name: Soundview LLC. Arts of Org. filed with NY Secy be served. SSNY shall mail process on 5/1/13. Office location: NY County. the Secy of State of NY (SSNY) on Senior Housing Developers LLC. of State (SSNY) on 05/14/2013. Office to: c/o The LLC, 1407 Broadway, SSNY designated agent upon whom 6/18/13. Office location: NY County. Articles of Organization filed with the location: New York County. SSNY is 41st Fl., NY, NY 10018. Purpose: any process may be served and shall SSNY designated as agent upon Secretary of State of the State of New designated as agent of LLC upon whom lawful activity. mail copy of process against LLC to whom the process may be served York (“SSNY”) on 8/12/13. N.Y. office process against it may be served. principal business address: 500 W. and shall mail copy of process location: New York County. The SSNY SSNY shall mail process to: 590 Notice of Qual. of Reef Road Investors 43rd St., Ste 31F, NY, NY 10036. against LLP to: DePaola Valdes, has been designated as agent of the Madison Ave., 34th Fl., New York, NY LP, Auth. filed Sec’y of State (SSNY) Purpose: any lawful act. L.L.P. c/o The Partnership 7014 13th LLC upon whom process against it may 10022. Purpose: any lawful activity. 2/20/13. Office loc.: NY County. LP Ave. Ste 202, Brooklyn, NY 11228. be served. The SSNY shall mail a org. in DE 2/19/13. SSNY desig. as NOTICE OF FORMATION OF Principal business address: 370 copy of any process to LLC, c\o CPC Notice of Formation of Diane Gilman agent of LP upon whom process KONTAKME LLC. Arts of Org filed Lexington Ave, Ste 509, NY NY Resources, Inc., 28 East 28th Street, against it may be served. SSNY shall with Secy of State of NY (SSNY) on Fashion, LLC. Arts. of Org. filed with 10017. Purpose: any lawful act. 9th Floor, New York, NY 10016. Name/ Secy. of State of NY (SSNY) on 7/29/13. mail copy of proc. to Att: Eric Rosen, 9/19/13. Office location: NY County. address of each member available from 747 Third Ave., 19th Fl., NY, NY SSNY designated agent upon whom Office location: NY County. SSNY NOTICE OF QUALIFICATION of SSNY. Purpose: any lawful activity. designated as agent of LLC upon whom 10017. DE off. addr.: CSC, 2711 process may be served and shall MIDAEZ LLC. App for Authority filed Centerville Rd., Wilmington, DE mail copy of process against LLC to process against it may be served. with Secy of State of NY (SSNY) on Notice of formation of 2000 Broadway SSNY shall mail process to: The LLC, 19808. Cert. of LP on file: SSDE, principal business address: 142 E. 12/5/12. Office location: NY County. 22A, L.L.C. Article of organization Townsend Bldg., Dover, DE 19901. 98th St., # 3, NY, NY, 10029. 325 5th Ave., Apt. 39C, NY, NY LLC formed in FL on 8/15/12. SSNY filed with the Secretary of State of 10016. Purpose: any lawful activity. Name/addr. of each gen. ptr. avail. at Purpose: any lawful act. designated agent upon whom process New York SSNY on April 24, 2013. SSNY. Purp.: any lawful activities. may be served and shall mail copy Office located in New York. SSNY Name of LLC: Brodmktg LLC. Arts. NOTICE OF FORMATION OF LIMITED of process against LLC to: KIM has been designated for service of Notice of Formation of CPW 1210 LLC. of Org. filed with NY Dept. of State: LIABILITY COMPANY. NAME: GOOZ MARKS - 2136 NE 123rd STREET, process. SSNY shall mail copy of Arts. of Org. filed with Secy. of State 7/24/13. Office loc.: NY Co. Sec. of PARK, LLC. Articles of Organization NORTH MIAMI, FL 33181. Cert of any process served against the LLC., of NY (SSNY) on 07/25/13. Office State designated agent of LLC upon were filed with the Secretary of State LLC filed with Secy of State of FL located at 2000 Broadway, Unit # 22A, location: NY County. SSNY designated whom process against it may be of New York (SSNY) on 12/19/05. located: FL DEPT. OF STATE, DIVI New York, NY 10023. Purpose: any as agent of LLC upon whom process served and shall mail process to: c/o Office location: New York County. OF CORPS, 2661 EXECUTIVE CTR lawful purpose. against it may be served. SSNY shall Business Filings Inc., 187 Wolf Rd., SSNY has been designated as agent CIR, TALLAHASSEE, FL 32301. mail process to c/o McLaughlin & Ste. 101, Albany, NY 12205, regd. of the LLC upon whom process Purpose: any lawful act. Notice of Qual. of Arden Advisers II, Stern, LLP, Attn: Geoffry R. Handler, agt. upon whom process may be against it may be served. SSNY shall L.P., Auth. filed Sec’y of State (SSNY) 260 Madison Ave., NY, NY 10016. served. Purpose: any lawful act. mail a copy of process to the LLC, c/o NOTICE OF FORMATION OF 2/20/13. Office loc.: NY County. LP Purpose: Any lawful activity. Dominique Levy LLC. Articles of Bryan W. Kishner, Esq., 89 Fifth Avenue, NOISE CANS LLC, a domestic LLC, org. in DE 2/13/13. SSNY desig. as Suite 802, New York, New York 10003. Organization filed with the Secretary Notice of Qual. of Roystone Capital Arts. of Org. filed with the SSNY on agent of LP upon whom process Purpose: For any lawful purpose. of State of NY (SSNY) on 5/23/13. Advisors LLC, Auth. filed Sec’y of 6/18/13. Office location: New York against it may be served. SSNY shall Office location: New York County. State (SSNY) 2/19/13. Office loc.: NY County. SSNY is designated as mail copy of proc. to Att: Averell Notice of Formation of Maele, LLC. SSNY designated as agent upon County. LLC org. in DE 11/16/12. agent upon whom process against Mortimer, 375 Park Ave., 32nd Fl., Articles of Organization filed with the whom process may be served and SSNY desig. as agent of LLC upon the LLC may be served. SSNY shall NY, NY 10152. DE off. addr.: CSC, Secretary of State of NY (SSNY) on shall mail copy of process against whom process against it may be mail process to: c/o Tanton and 2711 Centerville Rd., Wilmington, DE 8/06/13. Office location: NY County. LLC to: Dontzin, Nagy, and Fleissig served. SSNY shall mail copy of proc. Company, 37 W. 57th St., 5th Fl., NY, 19808. Cert. of LP on file: SSDE, SSNY has been designated as agent LLP, 980 Madison Avenue, NY, NY Townsend Bldg., Dover, DE 19901. to Att: Richard Barrera, 767 Third Ave., NY 10019. General Purposes. 10075, Attention: Matthew S. of LLC upon whom process against Name/addr. of each gen. ptr. avail. at it may be served. SSNY shall mail a 6th Fl., NY, NY 10017. DE off. addr.: Dontzin. Principal business address: CSC, 2711 Centerville Rd., Wilmington, Notice of Formation of SMIND SSNY. Purp.: any lawful activities. copy of process to: 650 Sixth Avenue, 30 E 74th St, NY, NY 10075. DE 19808. Cert. of Form. on file: Monticello LLC. Arts. of Org. filed 4H, NY, NY 10011. Purpose: any Purpose: any lawful act. SSDE, Townsend Bldg., Dover, DE with Secy. of State of NY (SSNY) on Notice of Formation of Limited Liability lawful activities. 19901. Purp.: any lawful activities. 8/14/13. Office location: NY County. Notice of Qual. of Maple West 25th Company (LLC). Name: LEGATO SSNY designated as agent of LLC Owner, LLC, Auth. filed Sec’y of JURIS, LLC. Articles of Organization Notice of Qual. of Roystone Capital upon whom process against it may be State (SSNY) 7/3/13. Office loc.: NY filed by the Department of State of Partners LP, Auth. filed Sec’y of State NOTICE OF QUALIFICATION of served. SSNY shall mail process to: County. LLC org. in DE 7/3/13. SSNY New York on: 07/31/2013. Office (SSNY) 2/19/13. Office loc.: NY Conde Nast Entertainment LLC. Arts The LLC, 401 West 45th St., NY, NY desig. as agent of LLC upon whom location: County of New York. County. LP org. in DE 11/16/12. SSNY of Org filed with Secy of State of NY 10036. Purpose: any lawful activities. process against it may be served. Purpose: any and all lawful activities. desig. as agent of LP upon whom (SSNY) on 6/19/13. Office location: NY SSNY shall mail copy of proc. to NRAI, Secretary of State of New York process against it may be served. County. LLC formed in DE on 3/22/13. NOTICE OF FORMATION of Tahoe 111 8th Ave., NY, NY 10011, the Reg. (SSNY) designated as agent of LLC SSNY shall mail copy of proc. to Att: SSNY designated as an agent upon East Holdings LLC. Art. of Org. filed Agt. upon whom proc. may be served. upon whom process against it may Richard Barrera, 767 Third Ave., 6th whom process may be served and w/Secy. of State of NY (SSNY) on DE off. addr.: 160 Greentree Dr., Ste. be served. SSNY shall mail a copy of Fl., NY, NY 10017. DE off. addr.: CSC, shall mail copy of process against LLC 6/13/2013. Office location: New 101, Dover, DE 19904. Cert. of Form. process to: c/o Schwartzman Garelik 2711 Centerville Rd., Wilmington, DE to principal business address: 4 Times York County. SSNY designated as on file: SSDE, Townsend Bldg., Dover, Walker & Troy, P.C., 355 Lexington 19808. Cert. of LP on file: SSDE, Square, 23rd Fl, NY, NY 10036. Cert agent for service of process. SSNY DE 19901. Purp.: any lawful activities. Avenue, New York, NY 10017. Townsend Bldg., Dover, DE 19901. of LLC filed with Secy of State of DE shall mail process to: 49 Wolf Hill Name/addr. of each gen. ptr. avail. at located: 401 Federl St, Ste 4 Dover, Court Cheshire, CT 06410. NOTICE OF FORMATION OF LIMITED NOTICE OF FORMATION of 500 Park SSNY. Purp.: any lawful activities. DE 19901. Purpose: any lawful act. Purpose: Any lawful activity. LIABILITY COMPANY. NAME: 519 Avenue Screening Room LLC Arts. Of WEST 179 STREET, LLC. Articles of Org. filed with Secy. of State of NY NOTICE OF QUALIFICATION of ISOS Notice of Formation of Limited Liability NOTICE OF FORMATION OF Mission Organization were filed with the (SSNY) on 08/01/13. Office Location: JEWELRY LLC. Authority filed with Company (LLC). Name: WILLIAM Possible Acupuncture, PLLC. Arts of Secretary of State of New York NY County. SSNY designated as Secy of State of NY (SSNY) on 8/9/13. PORTNOY LLC. Articles of Org filed Secy of State of NY (SSNY) (SSNY) on 08/05/13. Office location: agent of LLC upon whom process Office location: NY County. LLC Organization filed by the Department on 12/6/12. Office location: NY County. New York County. SSNY has been against it may be served. SSNY shall formed in NJ on 3/17/13. SSNY of State of New York on: 08/15/2002. SSNY designated agent upon whom designated as agent of the LLC upon mail process to Eugene F. Getty, designated agent upon whom process Office location: County of New York. process may be served and shall mail whom process against it may be Kellner Herlihy Getty & Friedman, LLP, may be served and shall mail copy of Purpose: any and all lawful activities. copy of process against PLLC to: served. SSNY shall mail a copy of 470 Park Avenue South, 7N, NY, NY process against LLC to principal Secretary of State of New York US Corp Agents, Inc. 7014 13th Ave, process to the LLC, 519 West 179th 10016. Purpose: Any lawful activity. business address: 3 Preservation (SSNY) designated as agent of LLC Ste 202 Bklyn, NY 11228. Principal Street, New York, New York 10033. Place, Princeton, NJ 08540. Cert of upon whom process against it may business address: 130 W 42nd St, NY, Purpose: For any lawful purpose. Notice of Qualification of Cetera LLC filed with Secy of State of NJ be served. SSNY shall mail a copy of NY. Purpose: any lawful act. Financial Specialists Services LLC. located: 33 West State St, Trenton, process to: 151 West 17th Street NOTICE OF QUALIFICATION of Authority filed with NY Dept. of State NJ 08608. Purpose: any lawful act. Unit 1G, New York, NY 10011. Notice of Qualification of AG Rio PRODUCT RANCH LLC. Authority on 7/16/13. Office location: NY Grande FMC GP LLC. Authority filed filed with Secy of State of NY (SSNY) County. Princ. bus. addr.: 200 N. NOTICE OF FORMATION OF LIMITED Notice of formation of Limited Liability with NY Dept. of State on 8/5/13. on 07/16/13. Office location: NY Sepulveda Blvd., Ste. 1200, El LIABILITY COMPANY. NAME: LKD Company (“LLC”). Name: Soundview Office location: NY County. LLC formed County. LLC formed in NJ on 01/11/09. Segundo, CA 90245. LLC formed in PARTNERS 2004, LLC. Articles of Senior Housing Managers LLC. in DE on 4/26/13. NY Sec. of State SSNY designated agent upon whom DE on 10/23/12. NY Sec. of State Organization were filed with the Articles of Organization filed with the designated agent of LLC upon whom process may be served and shall designated agent of LLC upon whom Secretary of State of New York Secretary of State of the State of New process against it may be served and mail copy of process against LLC to: process against it may be served (SSNY) on 03/19/04. The latest date York (“SSNY”) on 8/12/13. N.Y. office shall mail process to: c/o Angelo 65 E 3RD ST, APT F4, NY, NY 10003. and shall mail process to: c/o CT of dissolution is 07/31/2099. Office location: New York County. The SSNY Gordon & Co., L.P., 245 Park Ave., 26th Principal business address: 65 E 3RD Corporation System, 111 8th Ave., location: New York County. SSNY has been designated as agent of the Fl., NY, NY 10167, principal business ST, APT F4, NEW YORK, NY 10003. NY, NY 10011, regd. agent upon has been designated as agent of the LLC upon whom process against it address. DE address of LLC: c/o The NJ address: 19 MOURNING DOVE whom process may be served. DE LLC upon whom process against it may be served. The SSNY shall mail a Corporation Trust Co., 1209 Orange CT, HACKETTSTOWN, NJ 07840. addr. of LLC: 1209 Orange St., may be served. SSNY shall mail a copy of any process to LLC, c\o CPC St., Wilmington, DE 19801. Cert. of Cert. of LLC filed with Secy of State of Wilmington, DE 19801. Cert. of copy of process to the LLC, c/o Resources, Inc., 28 East 28th Street, Form. filed with DE Sec. of State, NJ: NEW JERSEY DEPT. OF STATE, Form. filed with DE Sec. of State, Lawrence P. Wolf, Esq., Six Hemlock 9th Floor, New York, NY 10016. Name/ Townsend Bldg., Dover, DE 19901. 225 W. STATE ST., TRENTON, NJ 401 Federal St., Dover, DE 19901. Hills, Chappaqua, New York 10514. address of each member available from Purpose: all lawful purposes. 08625. Purpose: any lawful act. Purpose: all lawful purposes. Purpose: For any lawful purpose. SSNY. Purpose: any lawful activity.

26 | Crain’s New York Business | September 23, 2013 20130923-NEWS--0027-NAT-CCI-CN_-- 9/20/2013 1:52 PM Page 1

Fin-tech grabs venture capital DEMONSTRATING THEIR SMARTS New York City financial-technology companies that showed off Continued from Page 4 loan performance. the commissions that merchants their products and services at the recent Finovate conference. trading and other IT systems for With its new mobile product for pay to be part of the program. ! Backbase: A portal for commercial banking that streamlines online Wall Street.Now,however,they are sales reps,decisions can be made on- “We’re saying,let’s take a longer- interactions with customers on multiple devices increasingly winning venture capi- site, and the money is in a business term view of all credit and have a tal to develop consumer-oriented owner’s account the next day. relationship-based approach with www.backbase.com applications. New York financial- “The daily cycle strengthens our borrowers,” said CEO Shane Had- ! Capital Access Network: Small business finance specialist with a new tech startups have raised nearly ability to provide a higher ‘yes’rate,” den. “Let’s completely take interest “mobile funder” for financial sales reps $900 million since 2008, according said Chief Executive Daniel and fees off the table because that’s www.capitalaccessnetwork.com to the CB Insights report. Analysts DeMeo.“This is a space where there the problem.” ! Finect: Social-media tool for investment advisers and asset managers expect investments in New York is great opportunity.” Other companies, on the other www.finect.com financial-tech companies will total hand, hope to sell technology they nearly $450 million by the end of say will help banks and brokerages ! Float Money: Online lending and marketing platform that lends against the year, twice the amount raised in The financial provide better, cheaper service with consumers’ future spending 2012. less risk. www.floatmoney.com industry Manilla, a midtown company ! ‘Longer-term view’ Innovation Agency: Consulting firm and crowdsourcing platform for with funding from the Hearst companies to spur innovation “There’s a marked difference in ‘hasn’t had Corp., helps people organize and www.innovationagency.com the level of activity and in the kinds manage their household ac- of technology we see banks interest- technological counts—utilities, subscriptions, re- ! LearnVest: Personal-finance platform and financial advisory services ed in,” said Maria Gotsch, chief ex- ward programs—online and in one provider ecutive of the Partnership Fund for change’ application. www.learnvest.com New York City, which three years What it’s disrupting is the U.S. ! Manilla: Consumer platform for managing household accounts and ago launched the FinTech Innova- Postal Service, eliminating millions services tion Lab. of pieces of first-class mail that www.manilla.com Capital Access Network, which banks and businesses send to con- demonstrated its Mobile Funder at sumers every month. At the same ! Socure: B-to-B, real-time, online identity verification system Finovate, is one of the companies Similarly, Float Money, a Lex- time, it’s providing a platform for www.socure.com shaking up the status quo. It pro- ington, Ky., startup that said it is banks to save money on postage— vides working capital loans and ad- moving its headquarters to New 75 cents to $1 per month per cus- vances to small businesses that York City, is trying to remake the tomer—and to market more prod- la CEO Jim Schinella.“It’s the kind businesses expand their lending to banks can take weeks to review— high-rate short-term lending busi- ucts to their customers. of solution that should be expected people without formal credit creden- and often end up rejecting. The ness by offering 10-month interest- in this generation with the technol- tials. Socure uses traditional sources company makes decisions within free loans against consumers’ future ‘New revenue stream’ ogy available to us today.” of information but also surfs the Web days, and every day collects remit- spending.The more consumers buy “We are saving a lot of money for Socure, an identity-verification and social media to put together pro- tances as well as 45 pieces of infor- from merchants who are part of companies and giving consumers company based in NoHo,also sees it- files of potential customers. mation about how a business is do- Float’s program, the more credit the opportunity to read and transact self as helping banks, payment net- “It opens a new revenue stream,” ing—information that helps predict they build.Float lends money out of mail wherever they are,”said Manil- works, e-commerce sites and other said Socure CEO Sunil Madhu. Ⅲ

TO PLACE A CLASSIFIED AD, CALL 1-800-444-6007 OR VISIT CRAINSNEWYORK.COM PUBLIC & LEGAL NOTICES Notice of Qualification of RGN-NEW Notice of Qualification of Rand Notice of Qualification of Tanger Notice of Qualification of ACA Notice of Qualification of AG Private YORK XLII, LLC. Authority filed with Advisors, LLC. Authority filed with Manager, LLC. Authority filed with Insurance Services, LLC. Authority Equity IV Annex LLC. Authority filed Secy. of State of NY (SSNY) on NY Dept. of State on 8/29/13. Office NY Dept. of State on 8/19/13. Office filed with NY Dept. of State on with NY Dept. of State on 8/26/13. 08/27/13. Office location: NY County. location: NY County. Princ. bus. addr.: location: NY County. LLC formed in 8/28/13. Office location: NY County. Office location: NY County. LLC LLC formed in Delaware (DE) on 42 Regatta View Dr., Saratoga Springs, DE on 8/15/13. NY Sec. of State Princ. bus. addr.: 2650 McCormick Dr., formed in DE on 8/19/13. NY Sec. of 08/12/13. Princ. office of LLC: 153058 NY 12866. LLC formed in DE on designated agent of LLC upon whom #200S, Clearwater, FL 33759. LLC State designated agent of LLC upon Dallas Pkwy., Ste. 400, Addison, TX 8/27/13. NY Sec. of State designated process against it may be served formed in DE on 6/19/13. NY Sec. of whom process against it may be 75001. SSNY designated as agent of agent of LLC upon whom process and shall mail process to: c/o CT State designated agent of LLC upon served and shall mail process to: c/o LLC upon whom process against it against it may be served and shall Corporation System, 111 8th Ave., whom process against it may be Angelo Gordon & Co., L.P., 245 Park may be served. SSNY shall mail process mail process to: c/o CT Corporation NY, NY 10011, regd. agent upon served and shall mail process to: c/o Ave., 26th Fl., NY, NY 10167, principal to c/o Corporation Service Co., 80 System, 111 8th Ave., NY, NY 10011. whom process may be served. DE National Registered Agents, Inc., 111 business address. DE address of LLC: State St., Albany, NY 12207-2543. DE DE addr. of LLC: c/o The Corporation address of LLC: 1209 Orange St., 8th Ave., NY, NY 10011, regd. agent c/o The Corporation Trust Co., 1209 addr. of LLC: 2711 Centerville Rd., Trust Co., 1209 Orange St., Wilmington, DE 19801. Cert. of upon whom process may be served. Orange St., Wilmington, DE 19801. Ste. 400, Wilmington, DE 19808. Cert. Wilmington, DE 19801. Cert. of Form. filed with DE Sec. of State, DE addr. of LLC: 160 Greentree Dr., Cert. of Form. filed with DE Sec. of of Form. filed with DE Secy. of State, Form. filed with DE Sec. of State, 401 401 Federal St., Dover, DE 19901. Ste. 101, Dover, DE 19904. Cert. of State, Townsend Bldg., Dover, DE 401 Federal St., Ste. 4, Dover, DE Federal St., Dover, DE 19901. Purpose: all lawful purposes. Form. filed with DE Sec. of State, 19901. Purpose: all lawful purposes. 19901. Purpose: Any lawful activity. Purpose: all lawful purposes. 401 Federal St., Dover, DE 19901. NOTICE OF FORMATION OF Sheryl Purpose: all lawful purposes. Notice of Formation of Biscuits & Bath Notice of Formation of EGL Media Notice of Formation of Matia, LLC. Checkman Design LLC. Arts of Org Sutton Place, LLC. Arts. of Org. filed LLC. Arts. of Org. filed with Secy. of Arts. of Org. filed with Secy. of State filed with Secy of State of NY (SSNY) RAYDOOR REALTY, LLC, a domestic with Secy. of State of NY (SSNY) on State of NY (SSNY) on 7/9/13. of NY (SSNY) on 7/23/13. Office on 5/30/13. Office location: NY LLC, Arts. of Org. filed with the SSNY 8/15/13. Office location: NY County. Office location: NY County. SSNY location: NY County. SSNY designated County. SSNY designated as agent on 7/25/13. Office location: New York SSNY designated as agent of LLC designated as agent of LLC upon whom as agent of LLC upon whom process upon whom process may be served County. SSNY is designated as upon whom process against it may be process against it may be served. against it may be served. SSNY and shall mail copy of process against agent upon whom process against served. SSNY shall mail process to: SSNY shall mail process to: The LLC, shall mail process to: John E. Cable, LLC to principal business address: the LLC may be served. SSNY shall c/o Biscuits & Bath Companies, LLC, 415 East 52nd St., NY, NY 10022. 234 West 21st St., #565, NY, NY 531 E 87th St, 1C, NY, NY 10128. mail process to: The LLC, 134 W. 41 W. 13th St., NY, NY 10011, Attn: Purpose: any lawful activities. 10011, also the registered agent. Purpose: any lawful act. 29th St., Ste. 909, NY, NY 10001. CEO. Purpose: any lawful activity. Purpose: any lawful activities. General Purposes. GLEIT & DUSZAK, LLP a domestic 35 GROVE LLC, a domestic LLC, AQUARIUM LLC, a domestic LLC, Arts. LLP, filed with the SSNY on 7/16/13. Notice of Formation of Interjewel Arts. of Org. filed with the SSNY on GEMAT REALTY LLC Art. of Org. filed of Org. filed with the SSNY on 7/3/13. Office Location: New York County. Realty LLC, Art. of Org. filed Sec’y of 5/10/13. Office location: New York Sec. of State of NY 04/04/2013. Off. Office location: New York County. SSNY is designated as agent upon State (SSNY) 11/18/10. Office location: County. SSNY is designated as agent Loc.: New York Co. SSNY designated SSNY is designated as agent upon whom process against the LLP may NY County. SSNY designated as upon whom process against the LLC as agent upon whom process against whom process against the LLC may be served. SSNY shall mail process agent of LLC upon whom process may be served. SSNY shall mail process it may be served. SSNY to mail copy be served. SSNY shall mail process to: The LLP, 401 Broadway, Ste. 601, against it may be served. SSNY shall to: The LLC, 489 Fifth Ave., 7th Fl, of process to The LLC, 233 East to: Gregor S. Bailar and Theresa Y. NY, NY 10013. Purpose: Law. mail copy of process to c/o Law NY, NY 10017. General Purposes. 69th Street, New York, NY 10021. Hong, 6653 Sorrel St., Mclean, VA Offices of Mitchell Devack, 90 Merrick Purpose: Any lawful act or activity. 22101. General Purposes. Notice of Qual. of Roystone Capital Ave., Ste. 500, E. Meadow, NY Notice of Qualification: Playback Management LP, Auth. filed Sec’y of 11554. Purpose: any lawful activities. Innovations, LLC. Application of NOTICE OF QUALIFICATION of Notice of Qual. of Reef Road Capital State (SSNY) 2/19/13. Office loc.: NY Authority filed with SSNY on Newmyer Contracting llc. Arts of Org LLC, Auth. filed Sec’y of State (SSNY) County. LP org. in DE 11/16/12. SSNY Notice of Formation of The 08/23/2013. Office location: New York filed with Secy of State of NY (SSNY) 2/20/13. Office loc.: NY County. LLC desig. as agent of LP upon whom Brooksville Gates Company LLC. Arts. County. LLC formed in California on on 9/6/13. Office location: NY County. org. in DE 9/27/12. SSNY desig. as process against it may be served. of Org. filed with NY Dept. of State on 03/03/2008. Address to which SSNY LLC formed in CT on 1/28/05. SSNY agent of LLC upon whom process SSNY shall mail copy of proc. to Att: 3/11/13. Office location: NY County. mail a copy of any process against designated agent upon whom process against it may be served. SSNY shall Richard Barrera, 767 Third Ave., 6th Sec. of State designated agent of LLC: 17785 Center Court Drive, Suite may be served and shall mail copy of mail copy of proc. to Att: Eric Rosen, Fl., NY, NY 10017. DE off. addr.: CSC, LLC upon whom process against it 600 Cerritos, CA 90703. Principal process against LLC to principal 747 Third Ave., 19th Fl., NY, NY 2711 Centerville Rd., Wilmington, DE may be served and shall mail business address of the LLC: 1379 business address: 32 Centre St., 10017. DE off. addr.: CSC, 2711 19808. Cert. of LP on file: SSDE, process to: c/o CompassRock Real Park Western Dr. Ste 363 San Pedro, Mansfield Center, CT 06250. Cert. of Centerville Rd., Wilmington, DE Townsend Bldg., Dover, DE 19901. Estate, 810 7th Ave., 40th Fl., NY, NY CA 90732. Certificate of LLC filed with LLC filed with Secy of State of CT: 19808. Cert. of Form. on file: SSDE, Name/addr. of each gen. ptr. avail. at 10019, principal business address. Secy of State of CA located: 1500 30 Trinity St., Hartford, CT. Purpose: Townsend Bldg., Dover, DE 19901. SSNY. Purp.: any lawful activities. Purpose: all lawful purposes. 11th Street, Sacramento, CA 95814. any lawful act. Purp.: any lawful activities.

September 23, 2013 | Crain’s New York Business | 27 20130923-NEWS--0028-NAT-CCI-CN_-- 9/19/2013 5:42 PM Page 1

FOR THE RECORD

infrastructure north of Isham Street, Grubb Knight Frank. The asking rent holds 3,589,960 shares. between Broadway and Seaman Avenue was $49 per square foot. ABOUT THIS SECTION in Isham Park, Manhattan. Bid G Prestige Brands Holding Inc. (PBH) FOR THE RECORD is a weekly listing of information from the public record that documents are available for a $25 fee, RETAIL Matthew M. Mannelly, director, G can help businesspeople in the New York area find opportunities, potential payable by company check or money European Wax Center signed a long- president and chief executive, exercised order made out to the City of New term lease for 1,600 square feet at 130 options on 225,000 shares of common new clients and updates on competitors. York, Parks and Recreation, in the Montague St. in Brooklyn. The tenant stock at $7.16 on Sept. 3, in a To ask questions or get more information on this section, contact Crain’s Blueprint Room, Room 64, Olmsted and the landlord, Thor 130 Montague transaction worth $1,611,000. Between research department at [email protected]. Center, Flushing Meadows Corona Street, were represented by James Dario Sept. 3 and Sept. 4, he sold 258,000 Park, Queens, from 8 a.m. to 3 p.m.To Jr. of Kalmon Dolgin Affiliates. The shares of common stock at prices make inquiries, contact Juan Alban at asking rent was $150,000 per year. ranging from $32.42 to $32.53, in a NEW IN TOWN seeking bankruptcy protection in the (718) 760-6771 or juan.alban@ transaction worth $8,365,020. He now Southern and Eastern Districts of New parks.nyc.gov. G Starbucks signed a lease for 879 directly holds 160,000 shares. Companies should submit descriptions York. Information was obtained from U.S. square feet at 250 W. 57th St. The coffee following this format to Bankruptcy Court records available on G Housing Authority chain will take space on the ground G Moody’s Corp. (MCO) [email protected]. Public Access to Court Electronic Records. Seeks competitive sealed bids by 10 a.m. floor of the building in the third quarter Raymond W. McDaniel Jr., chairman on Oct. 3 for restoration of damaged of this year. The tenant was represented and chief executive, exercised options on G Fjällräven G Blogscope Corp. play-area safety surfacing at Surfside by David Firestein of Shopping Center 82,500 shares of common stock at 38 Greene St., Manhattan 2846 Church Ave., Brooklyn Gardens, Brooklyn, play areas 1 and 3. Group. The landlord, W&H Properties, $32.41 on Sept. 3, in a transaction worth The Swedish outdoor-gear brand Filed for Chapter 11 bankruptcy Bid documents are available at the was represented by Ian Lerner and $2,673,619. On the same day, he sold opened a flagship store in SoHo. This is protection on July 26. The filing cites department for a $25 fee payable by Joanne Podell of Cushman & 82,500 shares of common stock at prices its second New York City location. estimated liabilities of $50,001 to certified check or money order made out Wakefield.The asking rent was $350 ranging from $64.02 to $65.06, in a $100,000 and estimated assets of $0 to to NYCHA. They can also be obtained per square foot. transaction worth $5,295,554. He now G Happy Fun Hideaway $50,000. The creditors with the largest by registering with I-supplier and directly holds 189,006 shares. 1211 Myrtle Ave., Brooklyn unsecured claims are Golden Krust downloading documents. To obtain The bar opened in Bushwick. It offers Bakery, owed $10,555; Con Edison, copies of the bid or to make inquiries, STOCK TRANSACTIONS G WebMD Health Corp. (WBMD) cocktails and snack foods, and also owed $6,373.03; and National Grid, contact Vaughn Banks at (212) 306- Kevin M. Cameron, director, exercised serves as an art gallery. owed $3,175.30. 6727 or [email protected]. Following are recent insider transactions at options on 355,480 shares of common New York’s largest publicly held companies stock at prices ranging from $15.73 to G King Noodle G Down to Business Inc. GOODS AND SERVICES filed with the Securities and Exchange $19.33 on Sept. 4 in a transaction worth 1045 Flushing Ave., Brooklyn 188-05 Linden Blvd., Queens G Department of Education Commission.The information was $5,911,669. He now directly holds The Pan-Asian eatery opened in Filed for Chapter 7 bankruptcy Seeks competitive sealed bids by 4 p.m. obtained from Thomson Reuters. 154,575 shares. Bushwick. It is the first location for the protection on Aug. 2. The filing cites on Oct. 9 for the repair of plumbing restaurant. estimated liabilities of $100,001 to systems. To download the bid or to make G Hain Celestial Group Inc. (HAIN) Martin J. Wygod, chairman, sold 61,517 $500,000 and estimated assets of inquiries, contact the vendor hotline at Carl C. Icahn, director, sold 3,650,000 shares of common stock at prices G Mark Jacobs Beauty $100,001 to $500,000. (718) 935-2300 or vendorhotline@ shares of common stock at prices ranging from $32.90 to $32.96 between 385 Bleecker St., Manhattan schools.nyc.gov.The bid opening will ranging from $88.65 to $89.15 between Sept. 5 and Sept. 6, in a transaction The first retail location for the luxury G El Pollo Restaurant & Bar Inc. take place Oct. 10 at 11 a.m. Aug. 5 and Aug. 7, in a transaction worth $2,024,839. He now indirectly designer’s cosmetics opened in the West 114-116 Ditmas Ave., Brooklyn worth $287,182,016. He now indirectly holds 1,232,050 shares. Ⅲ Village.The brand’s beauty line debuted Filed for Chapter 7 bankruptcy G Department of Information Technology online in July. protection on Aug. 6. The filing cites and Telecommunications estimated liabilities of $0 to $50,000 and Requests proposals by 2 p.m. on Oct. 29 G Umami Burger estimated assets of $0 to $50,000. The for as-needed quality-control services DEALS ROUNDUP 432 Sixth Ave., Manhattan debtor with the largest unsecured claim for technology projects citywide. To The popular L.A.-based burger chain is ASM Integrators, owed $6,000. obtain copies of the bid or to make TRANSACTION SIZE opened in Greenwich Village. This is its inquiries, contact Latanya Ferguson at SELLER/TARGET (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE first New York City location. G Phillipo’s Restaurant Inc. (212) 788-6691 or lferguson@ Vodafone Group/ $130,036.0 Verizon Communications Inc. SB M&A 10 Wentworth Ave., Staten Island doitt.nyc.gov. Cellco Partnership (Manhattan) (remaining 45%) Filed for Chapter 11 bankruptcy protection on July 30. The filing cites G Department of Parks and Recreation MidOcean Partners $985.0 Alliant Techsystems Inc. SB M&A COMPANY MOVES (Manhattan)/Bushnell Inc. estimated liabilities of $100,001 to Requests proposals by 3 p.m. on Oct. 15 Companies should submit descriptions $500,000 and estimated assets of for the operation and maintenance of a Madison International $647.9 Thomas Properties Group Inc. SB M&A following this format to ELaermer@ $50,001 to $100,000. The debtor with snack bar at the Ocean Breeze Track and Realty (Manhattan), ThomasPartners Inc., crainsnewyork.com. the largest unsecured claim is the New Field Complex at Ocean Breeze Park, Weisman Family Foundation York City Department of Finance, owed Midland Beach, Staten Island. Bid endowment arm G Annie’s Blue Ribbon General Store $41,671. documents are available between 9 a.m. Phones 4u Ltd./ $166.8 Assurant Inc. (Manhattan) SB M&A 232 Fifth Ave., Brooklyn and 5 p.m. at the Revenue Division of Lifestyle Services Group Ltd. The family-friendly general-goods shop the New York City Department of Parks Not disclosed/ $100.0 Tribeca Venture Partners (Manhattan) GCI has relocated to Park Slope from 365 GOVERNMENT CONTRACT and Recreation, 830 Fifth Ave., room CommonBond the Social+Capital Partnership, individual State St. in Boerum Hill. OPPORTUNITIES 407, and can be downloaded at investors www.nyc.gov/parks/business G News Corp. (Manhattan)/ $87.0 Newcastle Investment Corp. (Manhattan) SB M&A Diptyque Following are selected contract opportunities. To order copies of the bid Dow Jones Local Media 242 Mott St., Manhattan opportunities recently announced by New by phone or to make inquiries, contact Group Inc. The French candle maker opened a store York City agencies.To learn how to sell Jeremy Holmes at (212) 360-1397 or Not disclosed/ $49.5 Domain Associates, OrbiMed Advisors GCI in Nolita. It is the third Manhattan goods and services to city government, visit [email protected]. Otonomy Inc. (Manhattan), Osage Partners, RiverVest location for the brand, and its fifth in the www.nyc.gov/selltonyc. For a searchable Venture Partners, Novo A/S; Avalon Ventures United States. database of current procurement notices, Aperture Venture Partners (Manhattan), visit www.nyc.gov/cityrecord. REAL ESTATE DEALS TPG Biotech G Sunglass Hut Kohlberg Kravis Roberts $47.1 Not disclosed (6.66%) SB M&A 1540 Broadway, Manhattan CONSTRUCTION SERVICES Companies should email descriptions & Co. (Manhattan)/China The eyewear shop opened a new G Department of Citywide Administrative following this format to NDholakia@ Tianrui Group Cement Co. location in Times Square. The store, the Services crainsnewyork.com, or enter them online at Not disclosed/ $30.0 Intermountain Healthcare Inc., GCI 11th in New York, includes new high- Seeks competitive sealed bids by 11:30 crainsnewyork.com/submitadeal. Ingram Medical Inc. StepStone Group (Manhattan), tech features such as “Eye Candy,” a 24- a.m. on Oct. 10 for photoluminescent Mercato Partners hour vending machine. exit-path markings. Bid documents can COMMERCIAL Not disclosed/ $21.5 Sandbox Industries Inc., Blue Cross SB M&A be downloaded at nyc.gov/cityrecord. To G Atlantic Redemption & Recycling ZeOmega Inc. and Blue Shield Association endowment G Town Shop make inquiries, contact Karen Allen at Center signed a lease for 5,000 square arm, Bregal Sagemount (Manhattan) 2270 Broadway, Manhattan (212) 386-0453 or [email protected]. feet at 1830 Atlantic Ave. in Brooklyn. Not disclosed/ $20.0 Venrock (Manhattan), Aberdare Ventures, GCI The lingerie store relocated on the The building is now fully leased. The Advance Medical Inc. Arboretum Ventures, individual investors Upper West Side. It moved directly G Department of Parks and Recreation tenant was represented by Beryl Nagel Northern Rock $16.3 American Realty Capital Global Trust Inc. SB M&A across the street from its original Seeks competitive sealed bids by 10:30 of Kalmon Dolgin Affiliates Inc. The (asset management)/ (Manhattan) storefront at 2273 Broadway, where it a.m. on Oct. 9 for the planting of new landlord, Halsey Properties, was two Northern Rock office had been for nearly 80 years. and replacement trees in Community represented by Jeffrey Unger of Kalmon buildings in Sunderland, Boards 1-6 and 8 in Brooklyn. Bid Dolgin Affiliates. The asking rent was U.K. G Valentino documents are available for a $25 fee, $12 per square foot. Upfront Ventures, Baroda $15.0 Amobee Inc. SB M&A 821 Madison Ave., Manhattan payable by company check or money Ventures, Rincon Venture G Partners, Founder Collective The luxury clothing and accessories order made out to the City of New York, The Bob Woodruff Foundation signed (Manhattan), Crosscut Ventures brand opened in an Upper East Side Parks and Recreation, in the Blueprint a lease for 2,805 square feet at 1359 Management, Siemer Ventures, four-story townhouse, featuring its first Room, Room 64, Olmsted Center, Broadway.The national nonprofit will Double M Partners/ VIP shopping area. The store relocated Flushing Meadows Corona Park, move into the space in August, when the Gradient X Inc. from 746 Madison Ave. Queens, from 8 a.m. to 3 p.m.To make organization moves from its current Not disclosed/ $15.0 Insight Venture Partners (Manhattan) GCI inquiries, contact Juan Alban at (718) space at 100 Wall St. The tenant was Wishabi Inc. 760-6771 or [email protected]. represented by Jamie Jacobs and Selected deals announced for the week ended Sept. 7 involving companies in metro New York. BANKRUPTCIES Brittany Silver of Newmark Grubb GCI: Growth capital investment represents new money invested in a company for a minority Seeks competitive sealed bids by 10:30 Knight Frank. The landlord, W&H stake. SB M&A: Strategic buyer M&A represents a minority or majority acquisition of existing The following listings are selected from the a.m. on Oct. 15 for the reconstruction Properties, was represented by William shares of a company without the participation of a financial buyer. source: capitaliq most recent available filings by companies of the water system and related Cohen and Ryan Kass of Newmark

28 | Crain’s New York Business | September 23, 2013 20130923-NEWS--0029-NAT-CCI-CN_-- 9/20/2013 7:17 PM Page 1

Facing fiscal woes, longtime Tourism summit

Crain’s hosts forum tributing to the city’s coffers. Last AIDS org eyes new direction year, a record 52 million visitors on challenges to came here, spending $37 billion and supporting more than 330,000 jobs. organization’s chief financial officer. Butch vs. Trans-Man Realness and city’s visitor boom New York’s hotels, already Gay Men’s Health Although GMHC is reluctant to Big Girl Realness. Earlier this year, among the most expensive in the Crisis says it will use that money for operations, pro- critics accused GMHC of being Crain’s will convene top tourism country, fear further occupancy-tax grams are a priority, he added. The more concerned with entertainment professionals on Sept.25 at John Jay hikes and are wary of excessive ho- maintain services, group’s current budget is $26.7 than AIDS prevention and tried to College of Criminal Justice to dis- tel development, while restaura- search for new CEO million. organize a boycott. cuss the challenges facing the indus- teurs are concerned about increased The financial picture A spokeswoman for try, an increasingly important pillar regulation—such as the letter- should brighten this year. GMHC said attendance of economic growth in the city. grading system and calorie labeling BY GALE SCOTT “Pre-audit, we ran the $6M for the Latex Ball was Panelist George Fertitta, chief imposed during Mayor Michael numbers, and it looks like AMOUNT that down this year but attrib- executive of the city’s tourism bu- Bloomberg’s tenure—and the hefty Gay Men’s Health Gay Men’s Health Crisis has been a we will have a $600,000 Crisis has in a uted that to other factors, reau, NYC & Company, will be fines that come with it. major AIDS educator, health and surplus this fiscal year cash reserve such as a change in venue. joined by Cristyne Nicholas,chair of social-services provider and fundrais- [ended July 1],” said Mr. She added that the ball was the New York State Tourism Advi- Javits issues er since 1981. But for the first time in Fazio. never intended to be a sory Council and a former CEO of Other issues to be discussed in- its history, the Manhattan nonprofit AIDS funding has been hit hard fundraiser but “an intervention” for the bureau;Tracy Nieporent, a part- clude the future of the Jacob K. Jav- last year reported six-figure losses. recently. GMHC holds many high- attendees, most of them young men ner in Myriad Restaurant Group, its Convention Center, which is em- Earlier this month,it announced profile events to raise money and of color.In addition to featuring run- which owns celebrated eateries broiled in a controversy over Gov. that Marjorie Hill would step down promote AIDS prevention. Its an- way acts, the event offers informa- Nobu and Tribeca Grill,among oth- Andrew Cuomo’s decision to change as chief executive.The organization, nual AIDS Walk raised $5.4 million tion about safe sex and HIV testing. ers; and Steven Pipes, managing di- the dates of the New York Boat which in 2010 moved to West 33rd this year,“even though it rained cats An acclaimed documentary, Paris Is rector of Le Parker Meridien New Show,pitting trade-show organizers Street from its longtime home in and dogs and we were drenched,” Burning,described this subculture. York hotel and president of Jack and hospitality executives against the Chelsea, said Ms. Hill would be said Mr. Fazio. GMHC critics who pushed for a Parker Corp., a real estate firm. convention center and governor. pursuing other options, and the boycott have complained that the The panel will be moderated The event will be held from 8 group was seeking a leader to take it Focus of criticism film, endorsed by the organization, by Crain’s senior reporter Lisa a.m. to 9:30 a.m., and is part of in new directions. But another popular annual negatively portrayed that culture by Fickenscher. Crain’s ongoing “Business of”series. In the meantime,GMHC has no GMHC event known as the Latex featuring too many prostitutes and The mayoral election raises many Tickets are $80 per person, or $800 intention of cutting back on pro- Ball drew criticism this year. drug users. questions for the industry. Chief for reserved blocks of 10. For more grams but plans to tap its endow- Launched in 1990, the event is at- “We are being very aggressive among the concerns is whether new information, contact Alexis Sinclair ment, if necessary,to continue those tended by thousands who watch about pursuing new contracts and leadership will champion tourism at (212) 210-0739 or visit services. “We have $6 million in a participants compete for prizes in coming up with new fundraisers,” and recognize its economic power, www.crainsnewyork.com/events- cash reserve,” said David Fazio, the such categories as Best Dressed, Mr. Fazio said. Ⅲ both in generating jobs and con- nyctourismevent. Ⅲ

September 23, 2013 | Crain’s New York Business | 29 20130923-NEWS--0030-NAT-CCI-CN_-- 9/20/2013 7:17 PM Page 1

Continued from Page 1 Withdrawals often were masked the family members elected not to tell in a way to avoid alerting authori- the taxman about the Swiss account. Capturing the Seggermans ties. In 2006, prosecutors say, Hen- The Seggermans are now paying ry tried to disguise a $58,700 trans- a dear price for that decision. They with federal investigators in ex- Kostelanetz & Fink. “Mr. Segger- ernment didn’t catch on when they fer from Switzerland to Edmund by have become the most prominent change for avoiding prosecution. man and his siblings have each done underreported income on their tax describing it as a loan. Suzanne New York family caught in a wide- The information from UBS led au- many noble things with their lives. returns.Or they could pay a hefty tax arranged a “sham mortgage transac- ranging federal crackdown on thorities to the Seggermans, a blue- They did not set out to break the law, bill—to be precise, $1.3 million on tion” in 2003 designed to “conceal” wealthy citizens who avoid taxes by blooded New York family. but unfortunately were brought into the first $3 million of their father’s her Swiss account. Yvonne traveled hiding money overseas. Four mem- Patriarch Harry Seggerman was a scheme that was originated by estate and 55% on the rest, accord- several times to Switzerland,Britain bers of the six-sibling clan have a New York native who during a their father and his advisers. Mr. ing to prosecutors. Going that route and Canada to pick up money from pleaded guilty to tax-evasion charges. nearly 50-year career on Wall Street Seggerman has accepted full re- would have left only about $11 mil- her Swiss account and typically re- Each faces up to 11 years in prison. made millions as one of the first in- sponsibility for his role in the activ- lion of Harry Seggerman’s $24 mil- turned with less than $10,000 so she Henry Seggerman, now 60, vestment pros to take an interest in ities alleged by the government and lion estate to his survivors, however. wouldn’t have to declare the cash to pleaded guilty last month.His sister Japan.His wife,Anne,recalled in her is cooperating fully.” “My father left my brothers and U.S. customs officials. Yvonne, 58, pleaded guilty earlier memoir,A Supernatural Life,that his In addition to the Seggerman sisters a real mess to unravel, and In December 2005, Suzanne this year, and so did his 50-year-old interest in Asia began in part with a children, Mr. Little, the former they decided to leave things the way emailed her lawyer in Zurich to say brother, Edmund, who goes by Chinese calligraphy class at Prince- stock trader who worked with Har- my father set them up,” said Mari- she’d be visiting the following John. Suzanne, 51, pleaded guilty ton. In the 1960s, the Seggermans ry Seggerman and is now a lawyer in anne, adding that the siblings’ deci- month, as she prepared to go the back in 2010. moved to a house in Westport that the U.K., has been charged with sion was motivated at least partly out World Economic Forum in Davos Their 82-year-old mother, Anne was later acquired by Martha Stew- helping the heirs evade taxes.He ve- of concern for the welfare of their with her husband, Michael Meyer, Crellin Seggerman, hasn’t been art.They eventually settled in an es- hemently denies any wrongdoing: mentally ill sister,who has been cared who was Europe editor at Newsweek charged. Nor has another sibling, tate in Fairfield, Conn., where their “The family are saying, ‘The Eng- for by their mother. “No one wanted and later became chief speechwriter Marianne Seggerman, 59, a com- next-door neighbor was Broadway lishman told us to do it.’ They are to leave [the sister] in the lurch.” to United Nations Secretary- puter programmer who lives in composer Richard Rodgers. Mr. scapegoating me to avoid jail time.” Less altruistic motives also may General Ban Ki-moon. Westport, Conn., and was largely Seggerman rose to vice chairman at It seemed to baffle a federal judge have played a role. Tax-free, the in- “I am hoping to have a meeting cut out of the family fortune. She Fidelity Investments before leaving hearing the case that a sophisticated heritance was large enough to make with [the lawyer] on Monday morn- said her brothers and sisters didn’t in 1992 to launch a hedge fund called family like the Seggermans chose a big difference in the lives of the ing.… I’d also like $20 [thousand] in report the secret Swiss money so International Investment Advisers, not to pay taxes on their inheritance. Seggerman heirs, who used the US and 3 [thousand] in euros at that there would be more inheritance which specialized in Korea. “How did you get involved in this money to pay housing costs and for time,”Suzanne wrote,according to a money for the care of their eldest sis- “He generated just spectacular stuff?” Judge Kevin Duffy asked the private-school tuition for at least document filed in federal court. ter, who suffers from schizophrenia. returns,” said Michael Little, a for- Suzanne Seggerman at a 2010 court one of their children, according to A lawyer for Mr.Meyer didn’t re- “My siblings inherited a mess turn a call seeking comment. from our father,” said Marianne. “I The roof caved in on the Segger- can understand the decisions they mans when prosecutors, using in- made without justifying them.” formation they’d gotten from UBS, The U.S. Attorney’s Office in ‘Prosecutors want to send a message charged Suzanne in 2010 with filing Manhattan wouldn’t comment. false tax returns and conspiracy. “It’s unusual for prosecutors to to families in New York and elsewhere Marianne was blindsided. She go after a family like this,” said Jack said she learned about her siblings’ Townsend, a former lawyer with the who are hiding their wealth’ legal troubles only last year, when U.S. Justice Department’s tax divi- she was told by the babysitter for sion. “They are clearly intent on us- Edmund’s children, whom she had ing this case to send a message to called to invite to Shakespeare in the families in New York and elsewhere Park. “Nobody in the family is talk- who are hiding their wealth.” ing about the case,” said Marianne, Well-to-do families like the Seg- who describes herself as close with germans have parked money in some of her siblings but hasn’t been places like Switzerland, Guernsey in the same room with all of them or the Cayman Islands for decades, since they met at a restaurant short- of course. Cracking down on those ly after their father’s death. who use the accounts to avoid U.S. Edmund is scheduled to be sen- tax obligations, however, has been a tenced on Sept. 27; no sentencing priority for tax officials and prosecu- dates have been set for his siblings. tors since the U.S. Senate reported Many people sentenced in similar in 2008 that offshore banking costs cases have received a year or less in the federal government $100 billion prison, although a person close to annually in lost tax revenue. the matter said Seggerman family members could face more time be- Swiss secrets revealed cause they failed to pay estate taxes. After years of resistance, Swiss In the meantime,during this past banks have begun disclosing the summer, Suzanne relocated from

identities of those who hold secret istockphoto New York to Nairobi with her accounts. U.S. authorities have daughter so she could join her hus- charged more than 60 account hold- mer stock trader who worked with hearing. “Why don’t you tell me prosecutors. band, who is running a journalism ers with tax evasion and 30 banking Mr.Seggerman.“He got the Gener- what the blazes is going on.” “I have always worked in non- school in Kenya, according to a professionals with helping them,real Electric and General Motors pen- Three months after Harry Seg- profits. I never had very much mon- court document.Her lawyer assured sulting in 60 guilty pleas or convic- sion funds to back him, not to men- german died in May 2001 at 73,leav- ey,” Suzanne later explained to a the judge she would fly back for tions at trial. An additional 38,000 tion Sir John Templeton,” the ing an estate worth $24 million, judge. After making documen- court whenever the judge wishes. U.S. citizens have voluntarily dis- renowned money manager. Henry called a family meeting at the taries, she co-founded a nonprofit, At a 2010 hearing in lower Man- closed secret accounts and paid back The Seggerman kids also were Four Seasons Hotel in midtown. Games for Change, which helps to hattan, Suzanne seemed to struggle taxes as part of an amnesty program. successful. Henry was a movie pro- The father’s will left $5 million of the create video games that have a posi- to keep her composure as she pre- Swiss bank Wegelin pleaded ducer who brought Crocodile Dundee $12 million in the Swiss account for tive social impact. pared to enter a guilty plea and be- guilty earlier this year to helping U.S. to American audiences; Suzanne Anne; the rest was to be divided “You knew you had to”report the gin providing evidence that would citizens avoid $1.2 billion in taxes made documentaries with Ken among the children,excluding Mar- inheritance, the judge said. “There’s implicate her brothers and sister and and is closing down. More than a Burns; Yvonne ran a nonprofit play- ianne, or about $1.6 million each. a thing right on the [tax] return.” Mr. Little. dozen Swiss banks, including Credit house in Pawtucket, R.I., and now At the meeting, Mr. Little laid “Yes,”Suzanne replied.“I knew I “Do you want to take a couple of Suisse and Julius Baer, are under in- tills the fields as an organic farmer in out how the heirs could avoid pay- was checking the wrong box.” minutes?” Judge Duffy asked, ac- vestigation. Last week, the creator of the state; and brother Edmund was ing taxes on their hidden millions, cording to a transcript. Beanie Babies toys, Ty Warner, was an adviser to John and Lincoln prosecutors allege. He suggested Decision time “No, I’m fine,” Suzanne replied. charged with tax evasion for failing to Chafee when they were U.S. sena- they open their own secret Swiss ac- The heirs reached a decision re- “I cry a lot.” report income on secret Swiss ac- tors. He is now a real estate agent. counts and, rather than withdraw garding their inheritance soon after “All right,” the judge said, counts. Mr. Warner agreed to plead Reached by email, Suzanne Seg- funds electronically,take out money the Four Seasons gathering. In Oc- adding, “Actually, I hope you recog- guilty and pay a $54 million penalty. german declined to comment.None in “little chunks,” using traveler’s tober 2001, a secret Swiss bank ac- nize that what you have done has UBS, which according to the of the other siblings who’ve pleaded checks, for example. Mr. Little in- count was opened for Suzanne.The been so disastrous to your life that Senate report had 19,000 secret ac- guilty returned calls or emails. sists he gave no such advice. same month, according to prosecu- you have a lot to cry about.” counts for U.S. citizens (and 1,000 “This is a sad case of the sins of Whatever the case, family mem- tors, Yvonne took an ownership “I do.” Ⅲ declared ones), agreed in 2009 to the father being visited upon his bers now had a choice: They could stake in an entity whose function pay a $780 million fine and share in- children,” said Henry Seggerman’s come up with a way to hide their in- was to “surreptitiously” transfer LISTEN to a discussion at formation on about 4,500 clients attorney, Christopher Ferguson of heritance money and hope the gov- funds into the U.S. from overseas. CrainsNewYork.com/podcasts

30 | Crain’s New York Business | September 23, 2013 20130923-NEWS--0031-NAT-CCI-CN_-- 9/20/2013 7:18 PM Page 1

2013 fiscal years, the agency said. chief financial officer and chief se- Meanwhile, as construction of curity officer. What’s more, he said, Port Authority faces brain drain the WTC site draws to a close, there the opportunity for agency staffers are no megaprojects to capture the to earn their stripes on big projects Continued from Page 1 imaginations of a new generation of continues even as the Port Authori- agency at age 62 to take a job this ambitious young public servants. ty farms out work to contractors via month at engineering firm ARUP Gov. Andrew Cuomo has focused public/private partnerships. as its global aviation planning his transit goals on replacing the “Just because we have a private- leader. Ms. Baer’s position at the Tappan Zee Bridge. And one of the sector partner on big projects like agency, which owns all three major biggest construction jobs on the LaGuardia or the Goethals Bridge New York-area airports, has not agency’s agenda,a $1 billion rebuild- doesn’t mean that staff here will be been filled.That’s considered an un- ing of LaGuardia Airport’s main any less engaged on them,”Mr.Foye usually long gap for a post that a for- terminal, will be done by private- said. “These will be incredibly im- mer official terms “one of the most sector builders and managers who portant and challenging transac- important jobs at the agency.” will develop and then operate the tions for our engineers and lawyers Other important C-suite vacan- project for a cut of its revenue.A sim- and financial people.” cies include those of chief operating ilar arrangement will be used for the Mr. Foye, a Cuomo nominee,

officer, chief of compliance, chief of bloombergnews newscom $1.5 billion rebuilding of the took the reins in 2011, running capital planning, director of tech- CAPTAINS AHOY: Govs. Andrew Cuomo (left) and Chris Christie share control of the bistate Goethals Bridge to New Jersey. what some observers call a calcified nology and deputy director of rail Port Authority. Strained state budgets have increased the competition for the agency’s funds. Others fault the agency’s bistate agency where head-scratching transportation. structure. As government budgets business deals can take place. In re- Meanwhile, a corruption scandal have dried up during tough eco- cent weeks, for instance, it was re- has only added to the number of big that a four-year wage freeze,a recent ent to manage those efforts. nomic times, there is more friction vealed that Guy Tozzoli, the former positions the Port Authority must fill. cutback in compensation and vaca- “The Port Authority was specifi- than ever,these sources say,between Port Authority executive who died In May, the agency said it sacked tion time, and an increase in em- cally designed not to be the prover- the two states over which will re- this year, had arranged for the sale Treasurer Anne Marie Mulligan and ployees’ health care insurance costs bial Department of Transit, paying ceive what in the agency’s multibil- of the rights to the World Trade Assistant Treasurer Veronica Biddle have had an impact. employees a government salary and lion-dollar pot of capital funds. Center name for a mere $10 in for accepting gifts from insurance “Not getting a raise for a long making small-minded investments,” Some say that the authority’s capital 1986. The buyer was a nonprofit vendors. Risk Manager John Huxel time doesn’t do a lot for people with said one former executive. plan can too easily devolve into a that Mr. Tozzoli headed, one that also lost his job in that investigation. families,” she explained. “That’s the Last year, however, the agency competition rather than an alloca- paid him hundreds of thousands a Those positions,too,remain unfilled. case in many industries, but there is released the results of a months- tion of funds based on an objective dollars a year. Former aviation chief Ms. Baer, the sense that the Port Authority long audit conducted by consulting assessment of a project’s merits. “Some of the rollover is a byprod- for one,downplayed the impact of her has been through a few rocky years.” firm Navigant and instituted Others, including top Port Au- uct of our efforts to make the Port retirement and others’ recent depar- changes that included the elimina- thority officials, insist that the staff Authority more efficient, effective tures. Vaunted reputation tion of “longevity bonuses” paid out changes are overdue and that the and transparent,” said Scott Rech- “There’s always turnover at the The situation marks a major shift to veteran staff members. Employ- agency is regaining its momentum. ler, vice chairman of the agency’s agency,and I had a long career there, for an agency with a reputation for ees now must pay as much as 35% of “We’re in the midst of a brain board of commissioners, and a large and for me it was time to do some- building some of the region’s biggest their health insurance costs,up from gain,” emphasized Patrick Foye, the New York landlord. “We’re getting thing else,” Ms. Baer said. pieces of infrastructure and paying zero. The overhaul saved a com- Port Authority’s executive director, the best and most talented people to Nonetheless, Ms. Baer noted up to hire and promote first-class tal- bined $40 million in the 2012 and pointing to recent hires, including a come into these jobs.” Ⅲ

September 23, 2013 | Crain’s New York Business | 31 20130923-NEWS--0032-NAT-CCI-CN_-- 9/20/2013 7:18 PM Page 1

grams have a 20- to 30-year shelf life dies to raise wages for all workers. city, like transit, education, health and can’t be so easily redirected, said Business leaders argue this could care and sustainability. If he wins, De Blasio’s blueprint a former Bloomberg official. “This lead to layoffs,but a more likely effect some may use it as a yardstick by idea that there’ll be a massive influx is increased prices paid by the very which to judge his success, but Continued from Page 3 cost of construction.” of cash from stopping tax breaks to people Mr. de Blasio wants to pull Hunter College’s Mr. Sherrill cau- munity. Some could save the city He added that Mr.de Blasio “be- corporations is a falsehood,”the offi- out of poverty.“If you’re raising costs tioned against that. money, while others could blow a lieves that he can squeeze a couple of cial said. “Those deals are locked in on companies, they’ll find some way “The mayor is not a captain of in- hole in the budget. more golden eggs out of the goose by contract.” to pass that along to the consumer,” dustry who can just issue orders and “The idea of new strategies, and without killing it.” Many of Mr. de Blasio’s promis- the former Bloomberg official said. expect the City Council to jump and taking a bold and aggressive direc- Steven Spinola, president of the es underscore his history as a com- Mr. de Blasio’s book delves into salute,” he said. “These are just a set tion, is pretty clear,” said former Real Estate Board of New York,said munity organizer but lack specifics. other important issues facing the of priorities.” Ⅲ City Councilman Kenneth Fisher. he hoped Mr.de Blasio could be dis- He would “bring together stake- “The economics of how any of this suaded from requiring, rather than holders”to find ways to diversify the would work, not so much.” encouraging, affordable-housing economy; “bring local business, ed- Mr.de Blasio vows in the book to construction, but said developers ucation, community, labor and “build or preserve nearly 200,000 were girding themselves for friction. agency leaders together” to create Bird in the hand ... affordable [housing] units” over the “We’re going to have arguments workforce training programs; and next decade, mainly by “converting with him,” Mr. Spinola said. “establish economic development Continued from Page 3 Nexus 7 tablet and HTC One phone. incentives to hard-and-fast rules.” The centerpiece of Mr. de Bla- hubs in every neighborhood to backed companies, Indeed.com The tech world eats it up. He would create 50,000 affordable sio’s campaign has been his call to in- bring local stakeholders together.” and Tumblr, made billion-dollar ex- “It’s kind of a trade magazine for units through “mandatory inclu- crease city income taxes for five years His plan to create “revolving loan its, delivering sizable returns, entrepreneurs,” said Dwight Merri- sionary zoning,” in which builders on those earning $500,000 a year, to funds” for neighborhood businesses sources said. man, co-founder of MongoDB. It are required, rather than enticed 4.41% from the current 3.86%, rais- underserved by banks appears simi- “Most people think [Union also makes Mr. Wilson a first stop with subsidies and tax breaks, to de- ing $530 million annually for early lar to a 2009 initiative by Mr. Square] is just the best New York for cutting-edge startups. vote a part of new residential devel- childhood education and after- Bloomberg and Council Speaker firm,” said Kevin Ryan, founder of “Fred is the best blogger in the opments to affordable apartments. school programs. His Republican Christine Quinn to help “struggling Gilt and co-founder of MongoDB. VC business,” said Scott Kurnit, “New York used to build for the opponent, Joseph Lhota, has said he small and micro-businesses that “But the numbers in their funds will founder of About.com and Keep middle class,” he writes. “Today, it would find the money for pre-K in cannot access traditional financ- show that they’re possibly the best in Holdings, and an investor in Union seems to build only for the wealthy.” the city’s $70 billion budget. ing.” Only about 200 loans have the country.” Square’s current fund.“It makes en- Mr.de Blasio has said he wants to been made, the former administra- Union Square does not divulge trepreneurs want to work with him. “reset”what he considers the cozy re- Some subsidies off-limits tion official estimated. its numbers, and Mr. Wilson de- So he gets to see deals early.” lationship between the city and the Mr. de Blasio would need state Mr. de Blasio says he would re- clined to comment, writing in an But however good Union real estate community.Unlike his tax approval to hike income taxes, and duce fines racked up by restaurants email (which he later discussed on Square’s record has been, the knock plan and other big-ticket items, Albany insiders have declared the and other small businesses by issu- his blog) that “the people that we in- on New York remains that it does mandatory inclusionary zoning proposal dead on arrival. The public ing warnings before penalties are vest in” are a more important part of not build big,important companies. could be enacted without state or advocate insists he’ll have leverage if levied for low-risk violations. That the firm’s story than he is. But inde- The giants of the Internet— City Council approval. The real es- he wins big. would cost the city some of the ap- pendent research backs Mr. Ryan’s Google, Facebook, Amazon—are tate industry is unnerved by the idea. The rest of Mr. de Blasio’s job- proximately $100 million it collects claim—with the caveat that Union all on the West Coast, as are the “It’s going to be harder to do creation platform is more nebulous. each year in business fines. Square remains a relatively small giants of venture capital, like Klein- large-scale transformations of parts He says he will save the city millions With little in the mayoral tool- player, its funds measured in hun- er Perkins and Sequoia Capital. of the city,” said Mr. Fisher, a land- by redirecting the $4 billion in city box to address the growing income dreds of millions, not billions. use attorney. “There’s certainly subsidies to large corporations to gap between rich and poor—a cen- Private-equity research firm Pre- Personally involved nothing [in the plan] that would en- more meaningful programs. On the tral theme of his campaign—Mr. de qin, in a 2013 report, showed an in- And some of Union Square’s courage developers [or] cut the high stump, he cites the $100 million Blasio says he will advocate for local ternal rate of return of 34% for successful investments may not pro- paid to keep FreshDirect in the five control of minimum-wage rates,ex- Union Square’s 2008 fund—well duce lasting results. Tumblr had yet LISTEN to a discussion at boroughs as misspent money. pand the paid-sick-days mandate above the median figure of 8% for to prove itself as a business when Ya- CrainsNewYork.com/podcasts But many of these subsidy pro- and use public contracts and subsi- funds in the $100 million-plus cat- hoo bought the blogging platform egory for that year,according to sen- in May. Foursquare, another of its ior analyst Nicholas Jelfs. Only high-profile companies, remains a Boston’s Spark Capital did better. question mark; to secure financing Tech-industry insiders cite many in April, it took on convertible debt KEEPING NY’S CULTURE factors in Union Square’s success, in- rather than raise funds while its val- CRAIN’S cluding team members like co- uation was under pressure. Arts & Culture INDUSTRY ON THE NEXT founder Brad Burnham, a former But Union Square also has a hand partner in AT&T Ventures,and MIT in what may be the next wave of suc- Breakfast MAYOR’S AGENDA Ph.D. Albert Wenger. The firm has cessful New York startups: Etsy, also stuck to its knitting, investing in Kickstarter and MongoDB. And by With a new mayor in 2014, many New York arts and cultural institutions early-stage Web services companies staying small, with $200 million will seek the attention of the new administration. Crain’s will explore and believing that large networks of funds—and backup from its later- strategies and tactics for how this community will remain high on the mayor’s agenda. engaged users can change markets— stage Opportunity Fund to keep it and prove valuable. Profitable busi- competitive—Union Square, whose OPENING KEYNOTE Emily Rafferty ness models can come later. office is actually in the Flatiron dis- President, Metropolitan Museum of Art But the biggest factor appears to trict, has stayed focused. PANEL DISCUSSION: be Mr. Wilson himself—or, more Its targeted approach may be s Karen Brooks Hopkins precisely, his blog, A VC. He has more in step with the times, experts President, Brooklyn Academy of Music been writing daily since 2003 and say.As startup costs drop and big ex- s Yvette Campbell credits it with helping him “think, its and massive IPOs remain the ex- President & CEO, Harlem School of the Arts articulate and question.” ception, the firm’s small bets are s Claudia Wagner “I toiled in the VC business for more in line with the likely payouts. Co-Chair, New York City Government Practice Group, Manatt, Phelps & Phillips LLP close to twenty years before I hit my “Fred was one of the first VCs to stride and the reason I found my recognize that what we thought of Additional panelist to be conﬁrmed. stride was my adoption of blog- as the ‘traditional venture-capital- Date: ging,” he wrote last week. in-the-20th-century model’ needed Monday, October 7, 2013 REGISTER TODAY He also gets cranky, gets over be- to change and adapt to the new eco- crainsnewyork.com/events-artsculture2013 ing cranky, tests out ideas, sprinkles nomic reality,” said Basil Peters, au- Place: observations from decades of experi- thor of Early Exits,who studies the Con Edison Conference Center, 4 Irving Place ence and comes off as someone with investment industry. Staying small allows Union Time: the inside track on a complex world. 8:00 am -8:30 am Networking Breakfast Readers glimpse life in a New Square to work closely with its start- 8:30 am -10:00 am Program York family in which everyone is en- ups.“They’re not only looking at the gaged with technology. He shares numbers, they look at the people,” Cost To Attend: his love for New York, his taste in said Peter Weijmarshausen,chief ex- $100 for individual ticket(s). $1,000 for table(s) of ten. phones (he prefers Android, espe- ecutive of Queens-based 3-D print- You must be pre-registered to attend this event. No refunds permitted. cially the Samsung Galaxy S4), his ing company Shapeways, referring For more information, contact Alexis Sinclair at 212-210-0739 or [email protected] recent disappointment with Apple to the interest Union Square takes in For sponsorship information, contact Nancy Adler at 212-210-0278 or [email protected]. (he wanted a cheaper iPhone), how the firms it backs.“If I email them, I Host Sponsor: he listens to music (every possible get a very prompt response.” Ⅲ way, including SoundCloud and Exfm), and his reading—most re- LISTEN to a discussion at cently Steve Jobs,on his Kindle Fire, CrainsNewYork.com/podcasts

32 | Crain’s New York Business | September 23, 2013 20130923-NEWS--0033-NAT-CCI-CN_-- 9/20/2013 4:13 PM Page 1

HELLUVA TOWN INSIDE Source Lunch How Parking app to build during real estate hits the spot revival PAGE 34 Drivers in Manhattan seeking a Out and About parking spot in a garage or lot: There is help for you. Mobile A street fair on Atlantic application SpotHero,which just launched here, can direct you to the Avenue PAGE 35 nearest space, often at a discounted rate. “New York is the largest, most important parking market,” said co-founder Jeremy Smith, explaining why the two-year-old startup launched first in Chicago and Washington, D.C. “We BRIC AND MORTAR: wanted to make sure we offered the Leslie Griesbach best experience.” Schultz, president of SpotHero has signed up more nonprofit arts group than 100 garages and lots, BRIC, shows off a stretching from SoHo to the West model of the 50s, and is busy adding more, organization’s new including in home. Brooklyn, Queens and Hoboken. Because the app helps the lots sell vacant spots, it can offer discounts more than half the time—ranging from 20% to 50% off. Just as with black-car service Uber,users reserve the spot and pay for it via the app. Mr. Smith, 27, got the idea for SpotHero after paying $5,000 in tickets and towing fees in one year while parking on the streets of Chicago. He added that the app does great around big events: “The Super Bowl will be insanity for us.” —matthew flamm FreshDirect’s pet project It just got easier to feed Fido. Online grocer FreshDirect recently launched a pet shop, offering high-end brands including Greenies, Wellness and Canidae. Celebrities have provided their pedigree. The shop carries Ellen DeGeneres’ all-natural Halo products and some of the proceeds during the month of October will benefit Kristin Chenoweth’s pet charity, Maddie’s Corner,named for her Maltese. But cats are the real stars. Maria Santiago,who runs the unit,says cat food has been the biggest seller Cultured pearl since the Labor Day launch, even though the city estimates that New Yorkers own 600,000 pooches versus 500,000 kitties. Residents Years in the making, cultural district shines spent about $1.5 billion on their pets in 2010. Ms. Santiago added a spotlight on downtown Brooklyn

that overall sales have exceeded buck ennis expectations thus far. It has been a busy year for FreshDirect, which last year BY THERESA AGOVINO received approval for generous government subsidies to relocate rtist Julian Crouch has an enviable résumé. He has designed sets for the its headquarters to the Bronx. It 10/3 Metropolitan Opera and created the landscape for the soon-to-open OPENING DATE for BRIC’s added a flower shop, revamped its health and beauty offerings, and Broadway musical Big Fish.Still,he gets practically giddy when discussing a headquarters. Programs expanded to Philly, Delaware and mixed-media installation he co-created that will debut next month in a new include a free concert and Rockland County. And there is art exhibits. more to come, Ms. Santiago gallery space in the Downtown Brooklyn Cultural District. ¶ “It’s such an hinted. “2013 has been a year of honor to be chosen to do this because as an artist you are always on the road invigoration for us,” she said. “You or in Manhattan, so it’s fantastic to do something on your home turf,” said will see more exciting things before the end of the year.” Mr. Crouch, who lives in nearby Park Slope. “There’s so much going on in —valerie block Brooklyn, it’s like it’s the center of the world.” ¶ Well, at the very least, Brooklyn is finally becoming the center for the arts it was meant to be. After years of fits and starts, the Downtown 10/19 ABrooklyn Cultural District is on a roll. ¶ The gallery that will display Mr. Crouch’s work is located OPENING NIGHT for Theater for a New Audience’s A in the newly renovated and enlarged home of BRIC, a nonprofit arts organization that is slated to Midsummer Night’s open Oct. 3. Soon after, the Theater for a New Audience will unveil its first permanent home in Dream, directed by Julie its 34-year history, at 262 Ashland Place, in high style. Noted director See CULTURAL on Page 34 Taymor

LISTEN to a discussion at CrainsNewYork.com/podcasts September 23, 2013 | Crain’s New York Business | 33 20130923-NEWS--0034-NAT-CCI-CN_-- 9/19/2013 5:41 PM Page 1

SOURCE LUNCH: Cultural district rises high PHILIP AARONS by Matt Chaban Continued from Page 33 The Mark Morris Dance Group The city’s support, however, al- Julie Taymor is staging A Midsum- opened its building, with rehearsal, lowed the district plan to move former Night’s Dream as the inaugural performance and public space in ward when the recession lifted. show. the district in 2001. In 2004, an “The city made this a priority,”said The plan to have residential de- empty state-owned office building Leslie Griesbach Schultz, BRIC’s Hoping to build on velopment blossom alongside cul- was reborn into 80 Arts, which president. “They were really be- tural institutions is also becoming a leases space to small cultural hind it 100%.” reality. In November, residents can groups.Yet,like many of the big de- Kate Levin, commissioner of start moving into a luxury high-rise velopment projects in the city,such the city’s Department of Cultural the city’s resurgence at 66 Rockwell Place, the third res- as the nearby Atlantic Yards, pro- Affairs, said the district illustrates idence in the neighborhood devel- posals foundered or changed. Ar- how Mayor Michael Bloomberg oped by the Dermot Co. A hotel is chitects came and went. used culture as an engine for eco- s one of the partners in little. And I don’t know if it’s possi- on the boards, as are three other A transformational shift came nomic growth. She added that the Millennium Partners, ble to simplify it any more. I think high-rises, including one green- when the city took control of the area already had a strong and or- Philip Aarons has built the city’s done a nice job making the lighted by the city during the sum- BAM Local Development Corp.,a ganic anchor in BAM, which she more than 2,000 con- rules clear, which you can’t say for a mer. In the coming weeks, the city called one of “the most important dos, 2.2 million square city like Los Angeles. Here, you can should select a developer for a performing arts centers in the Afeet of office and retail space, eight really know what you can build if you fourth residential tower. The area world.” Additionally, transporta- hotels, four cineplexes and six health look at a piece of property,and if you “There is such a critical mass of tion to the area is exceptionally clubs—often as part of the same de- choose to do something else,you can artistic and creative community in ‘has been an good: Atlantic Avenue Terminal velopment site. rezone it, but that’s the exception Brooklyn that it’s the appropriate serves nine subway lines as well as He started as an economic devel- more than the rule. We need more place for a culture center of the 21st incredibly long the Long Island Rail Road. opment official in the Koch and capital, vastly more capital. century,” said Karen Brooks Hop- “A real linchpin is that many of Dinkins administrations before kins, president of the Brooklyn time coming’ the parcels that have been devel- leaving City Hall in 1991 to develop What has changed post-recession? Academy of Music,the district’s an- oped were owned by the city,” said the 1.7 million-square-foot, three- The recovery of the real estate mar- chor. BAM expanded its footprint Ms. Levin. “That was a unique tower Lincoln Square development ket is happening, but not in exactly last year by opening the Richard B. component.” on the Upper West Side. Millenni- the way it was before—super-easy Fisher Building, which includes a um has since exported its brand of money, large quantities, very simple theater and rehearsal space. Going 24/7 mixed-use megaprojects to Boston, deal terms. When things got bad, The district “has been an in- nonprofit planning group, in 2006 The city owns the former vaude- San Francisco and Los Angeles, fo- the banks got burned. As a conse- credibly long time coming,” she and folded it into what was then a ville theater that now houses BRIC. cusing on slender towers that pre- quence, now they want to protect added. new organization, the Downtown Its ground floor had been vacant serve room at the base for public themselves. Brooklyn Partnership. It allocated since the 1990s, but the space will cafés, plazas and stages. Progress, then delays $100 million for the district, in- soon hold a café,auditorium and TV What are some big issues on the horizon? BAM’s former executive direc- cluding $35 million to renovate the studio along with the gallery.BRIC’s What does the future hold for the city? I think Grand Central rezoning is a tor Harvey Lichtenstein planted building that houses BRIC and offices are on the second floor, while It’s going to be hard for hugely significant issue. the seeds for an arts community $34.4 million for the Theater for a Urban Glass, a nonprofit dedicated anybody to do quite as well WHERE Personally,I was glad Scott centered in the neighborhood New Audience building. to the promotion of glass as an art as the Bloomberg admin- Stringer supported it. I about 40 years ago. After leaving Still, the recession, fundraising medium, is on the third. istration has done over the THEY was able to look at the af- BAM in 1999, he chaired the local challenges and changes in leader- Ms.Griesbach Schultz said new past 12 years. DINED fordable-housing pro- development corporation charged ship at some organizations killed features on the ground floor will The mayor’s commit- NICK & grams of the people run- with bringing the downtown dis- some projects, including the help enliven the neighborhood’s ment that may be less ap- TONI’S CAFÉ ning for mayor, and I think trict to fruition. planned Brooklyn Visual and Per- streetscape,helping to give the area preciated is his commit- 100 W. 67th St. there definitely needs to be There was some initial progress. forming Arts Library in 2007. a more vibrant, 24-hour atmos- ment to infrastructure and (212) 496-4000 more of a discussion about www.nickandtonis phere. “No one really wants to be parks. At the end of the cafe.com the homeless. Some good here at night,” she said. “We need day, honestly, it might be ideas, but it’s super- to do more to give the area a real his greatest legacy, even AMBIENCE: challenging. sense of place.” though we don’t talk a lot Homey Italian BRINGING IT HOME with flair, and an Some boosters worry that as the about it. He finished the uptown price tag What defines the way you RESIDENTIAL PROJECTS ARE RISING IN BROOKLYN’S CULTURAL DISTRICT: Bloomberg administration comes to water tunnel, started the work? 20 Lafayette St. an end, the momentum to push the Second Avenue subway; WHAT THEY ATE: For us, these projects are district to its full potential may ebb. he extended the 7 train. Ⅲ Fleischer’s years in the organization, Stories: 32 burger, side salad Total units: 300 “We’re going to need more in design, planning, gov- money to get everything done,” What challenges face the Ⅲ Ricotta cavatelli ernment relations, and it’s Affordable units: 60 with crab and said Ms.Brooks Hopkins of BAM. next administration? really all part of our think- Public/cultural space: The building will include tomatoes “We hope a new administration New York is now the world ing that cities, and build- 50,000 square feet of cultural space, including PRICE: $54, BAM cinemas, a new Brooklyn Public Library understands that.” capital with people who including tip ings within them—luxu- branch and rehearsal space for local groups But others note that the admin- have capital. I do worry a ry, hotel, affordable, operated by 651 Arts. Also planned is a 10,000- istration has already sowed enough little bit and feel the need to protect whatever—work best when there’s square-foot public plaza, a restaurant/café and seeds to keep development moving the city’s diversity—its income diver- some scale and variety of uses to 15,500 square feet of retail. ahead.During the summer,it select- sity, its ethnic diversity and so forth. them, when they’re not just all one Developer: Two Trees Management ed Two Trees Management to build I think there has to be attention to thing. Opening: 2016 a residential tower that will include New York’s affordability. We always partner with govern- space for such cultural institutions That’s why the West Side is so ment and usually development agen- 250 Ashland Ave. as a branch of the Brooklyn Public wonderful. Yes, it’s gentrified, but it cies to build upon a desire to make an Stories: 52 Library and 651 Arts, a nonprofit hasn’t gentrified in the way that there impact in an area that is not yet ripe Total units: 586 dedicated to fostering arts from the aren’t still significant numbers of for simple luxury projects. We’re the Affordable units: 293 African diaspora, as well as a retail people with a wide variety of in- opposite of a developer who looks for Public/cultural space: About 20,000 component. Last year, the city ap- comes.Every time you go to Fairway, the last great site in an already devel- square feet of cultural and related office proved a 600-unit tower developed you see it. Which I do frequently. oped neighborhood. I bet those peo- space by the Gotham Organization and ple make more money than we do, Developer: Gotham Organization/DT Salazar DT Salazar. Meanwhile, Steiner- How can we overcome these challenges? but it’s not as interesting, and it’s not Opening: TBD NYC is preparing to construct a 52- The city is renewing its aggregate as challenging. A project needs to be story apartment building. housing at a remarkably lower level financed, and it needs to be success- 333 Schermerhorn St. “It’s a great thing for tenants than it should. It’s just so difficult, ful, and our interest really is in large- (The Hub) that they can run down and get a and prices being what they are, de- scale mixed-use projects that change Stories: 52 ticket to BAM at the spur of the velopers can do well by doing very neighborhoods. Ⅲ Total units: 751 moment,” said Melissa Pianko, an Affordable units: 150 executive vice president at the Public/cultural space: 35,000 Gotham Organization. INSIDE TIP: Nick & Toni’s was once a wine square feet of retail; no cultural space The nonprofits are equally ex- bar and is a favorite of Mr. Aarons, who Developer: SteinerNYC cited about those residents. “They Opening: 2016 are our future donors,” said Ms. lives in the tower he built across the street. Brooks Hopkins. Ⅲ

34 | Crain’s New York Business | September 23, 2013 20130923-NEWS--0035-NAT-CCI-CN_-- 9/20/2013 4:12 PM Page 1

OUT AND SNAPS Big names raise money for children, environment ABOUT by Ali Elkin and Theresa Agovino

CULTURE FIX CAREER BUILDER TUESDAY, SEPTEMBER 24, MONDAY, SEPTEMBER 23 THROUGH SUNDAY, OCTOBER 13 Catholic Charities Brooklyn and The New York City Ballet will present Queens is hosting the NEW YORK CITY George Balanchine’s BLACK AND WHITE. The CATHOLIC ALUMNI NETWORKING legendary choreographer crafted the piece RECEPTION.More than 150 colleges around movement and music without and universities will be represented. elaborate costumes or sets. The ballet starts The professional and social at 7:30 p.m. at the David H. Koch Theater networking event will run from at 20 Lincoln Center Plaza. Tickets start at 6 p.m. to 8 p.m. at the New York $29 and go up to $135. They are available at Athletic Club, 180 Central Park www.nycballet.com. South. Registration costs $25 and is available online at www.ccbq.org. FRIDAY, SEPTEMBER 27, bfa farrell billy anita shevett anita THROUGH SUNDAY, TUESDAY, SEPTEMBER 24 HUGH JACKMAN and DEBORRA-LEE JANUARY 5 The New York Public Library is FURNESS at the New Yorkers for Children HEATHER HITCHENS, HAROLD PRINCE and WILLIAM IVEY LONG at the American Theatre Benefit on Sept. 17. It raised $1.2 million for Wing’s annual benefit on Sept. 16. The event raised a record $700,000 for the organization’s The Guggenheim hosting SECURITIES FRAUD: children in foster care. education and outreach programs. Museum will showcase HOW TO BE AN EDUCATED INVESTOR. Robert Motherwell’s State Assistant Attorney General work from the 1940s and Elizabeth Block will deliver a 1950s in ROBERT presentation focusing on the MOTHERWELL: EARLY COLLAGES.The artist’s warning signs of fraud in investment style in his early work was influenced by products. The event is free and will surrealism. He later evolved his own brand of run from 6 p.m. to 7:30 p.m. at the abstract expressionism.The museum is at Science, Industry and Business 1071 Fifth Ave. and is open every day except Library, 188 Madison Ave. Thursday. Admission for adults is $22. For For more information, visit more information, visit www.guggenheim.org. www.nypl.org/locations/sibl.

DON’T MISS ATLANTIC ANTIC SUNDAY, SEPTEMBER 29 In a city overrun with street fairs, this one is worthwhile for having more than just

cheap jewelry and grilled corn. ATLANTIC entertainment ripps skyhook robert ANTIC stretches along Atlantic Avenue andrew federman federman andrew from Hicks Street to Fourth Avenue in DANNY MEYER and JENNIFER FALK at the Union Square Partnership’s Brooklyn and boasts several stages for live DOUGLAS DURST and SAM WATERSTON at the Trust for Public Land Harvest in the Square benefit on Sept 17. It raised $347,100 for park gala on Sept 17. It took in nearly $1 million for the nonprofit organization. maintenance and public programming. music; a block devoted to kids’ activities (including pony rides); and local fare including craft beer, pastrami sandwiches See more of this week’s Snaps online at CrainsNewYork.com/galleries. and lobster rolls. The fair starts at noon and ends at 6 p.m. For more information, visit www.atlanticave.org.

OPENING FUNDRAISERS SATURDAY, SEPTEMBER 28 WEDNESDAY, SEPTEMBER 25 The Museum of Modern Art has Change for Kids, an organization that assembled an extensive look at raises money for under-resourced public surrealism with MAGRITTE: THE MYSTERY elementary schools, is hosting a OF THE ORDINARY. The exhibit, which SUMMER IN SEPTEMBER party at Hudson runs through Sunday,Jan. 12, looks at Terrace, 621 W. 46th St.The event René Magritte’s work from 1926 to includes an open bar and runs from 7:30 1938, when the artist came into his p.m. to 10:30 p.m.Tickets are $75 and own as a surrealist. It contains more are available online at www.change than 80 paintings, collages and other forkids.org.

THURSDAY, SEPTEMBER 26 The Young Patrons of Lincoln Center will have their fall gala at the Bowery Hotel from 8 p.m. to 11 p.m. Tickets are $175 for members, $225 for non- members and $400 for tickets with a membership. The event will include performances by the Juilliard Jazz pieces. The museum, at 11 W. 53rd Ensemble and Pink Cashmere. The St., is open every day.Admission is $25 Bowery Hotel is at 335 Bowery. for adults. For information, visit Tickets are available online at www.moma.org. www.aboutlincolncenter.org.

MARK YOUR CALENDAR… THURSDAY, OCTOBER 24, TO TUESDAY, OCTOBER 29 THE BLACK CROWES are playing four shows at Terminal 5 with a classic opening act each night, including Maceo Parker, Dr. John and the Blind Boys of Alabama. The Black Crowes became well known in the early ’90s for hits like “She Talks to Angels.” Their 2008 album, Warpaint, was also well received. Terminal 5 is at 610 W. 56th St. Tickets start at about $60 and are available on Ticketmaster. For more information, visit www.terminal5nyc.com.

September 23, 2013 | Crain’s New York Business | 35 Hello Tomorrow

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