20150824-NEWS--0001-NAT-CCI-CN_-- 8/21/2015 6:18 PM Page 1 PATHFINDERS DATA MAPS chart course to $100B biz PAGE 4 CRAIN’S® NEW YORK BUSINESS VOL. XXXI, NOS. 34, 35 WWW.CRAINSNEWYORK.COM DOUBLE ISSUE AUGUST 24-SEPTEMBER 6, 2015 PRICE: $3.00 Tech jobs, Chinese tourism and speeding tickets—all up. Pedestrian deaths and hotel vacancies? Down. Our annual data deep-dive starts on PAGE 12 34 5 greg hall greg NEWSPAPER 71486 01068 0 B:11.125” T:10.875” S:10.25” Your business deserves B:14.75” the best T:14.5” S:14” network. Trade in your phone. Buy a Droid Turbo. Get $350. Until August 31st. New 2-yr. activation on $34.99+ plan req’d. $350=$200 bill credit + $150 smartphone trade-in credit (account credits applied within 2-3 billing cycles). Trade in must be in good working condition. $1999 (32 GB) New 2-yr. activation on $24.99+ plan req’d. 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Broad St. Greenville, SC 29601 Pages/Panels 1 of 1 Paper Stock MG Trim 10.875” x 14.5” 10.875” x 14.5” Prod. Mgr. None P: 864.271.0500 | F: 864.235.5941 622 Third Ave, New York, NY 10017 Hardware or Component None Safety 10.25” x 14” 10.25” x 14” Acct. Exec. None P: 212.905.7000 | F: 212.370.0781 Equipment None Finished Identifier None 10.875” x 14.5” Size Comments: PDFx1a with bleed. Include marks, slug. Inks: Cyan, Magenta, Yellow, Black Fonts: Neue Haas Grotesk Text Std, Neue Haas Grotesk Display Std Images: vz_pri_g_k.ai, RM_AlcatelLucent_collaboration_CMYK.ai, RM_ML_MT_Droid_Turbo_BN_Blk_64GB_Frnt-Aug23-R6in-MG.psd (282 ppi), droidturbo_ver_moto_k.eps, vz_exclusive_p.ai 20150824-NEWS--0003-NAT-CCI-CN_-- 8/21/2015 6:30 PM Page 1 ASSISTANT M.E.’S NOTE FYICRAINSNEWYORK.COM Stats all, folks Is Vision Zero working? Are Bill de Blasio’s housing goals realistic? City could use ¶ How’d the city collect $10 billion Willets Point ruling more in taxes without hiking rates? Is the hotel boom making it easier to wring concessions or cheaper to get a room? Is New York the costliest metro area in the de Blasio administration U.S.? (Spoiler alert—no, but it’s he Erik Engquist last week declined to very close.) Our annual Stats and appeal a court decision that the City section, which begins on T $3 billion has blocked the Page 12, has the answers to these and lots of other redevelopment of Willets Point in questions you need to know if you do business in the Queens, a signature Bloomberg-era city or just like to be plugged in. During my decade economic development initiative at Crain’s I’ve spent about half of my waking hours and one of the largest in city history. newscom absorbing information about the city, yet I still learn ¶ The mayor’s acceptance of the so much from putting this section together every July ruling, which rejected a mall proposed for a parking lot to the west of Citi Field, will make it year. On the economy page, I discovered that the difficult for codefendants Related Cos. and Sterling Equities to persuade the state’s highest court current expansion has created twice as many jobs as to even hear the case. ¶ Whether or not the court of appeals stiff-arms the developers—and it the one before the 2008 crash, and that the city’s likely will, given the city’s withdrawal from the case—de Blasio officials expect the companies to GDP would rank it 20th among nations. On the return to the negotiating table to answer the mayor’s demands that they add more affordable transportation page, I found that pedestrian injuries housing to the plan and build it sooner. ¶ Unlike the developers, the city does not believe the are way down in the last three years, but cyclist mall is essential to the profitability of the project, which involves cleaning 23 acres of injuries are up; that police are cracking down on contaminated soil and replacing a collection of junkyards and auto shops with a mixed-use speeding and crosswalk violations but easing up on neighborhood. ¶ “We’re not deal killers,” said Alicia Glen, deputy mayor for housing and other driving no-nos; that the city has redistributed economic development. “We’re deal doers.” ¶ But the developers have argued that they need the 1.1 million square feet of street space to pedestrians mall’s revenue to pay for the project’s public benefit, and that amenities to come with the mall in just four years; and that an epidemic of speed- must be in place to entice people to live there. Ms. Glen said housing will sell regardless. “The hump installations is underway (to what end, I’m not market has changed,” she said. —joe anuta sure—they’re being placed on some of the city’s safest streets). But it was the tourism page that yielded my favorite nugget from this year’s section: TOP STREET CONSULTANT RETREATS quirements when it dealt with Stan- line advertising business. The com- Promontory Financial Group will dard Chartered. pany, a unit of Comcast, invested The top destination for Chinese tourists visiting the pay $15 million to end its fight with $200 million in news site BuzzFeed city is not a museum or a sight or a show. I would New York state over its review of NEW YORK DECLARED a week after putting have guessed the Brooklyn Botanic Garden, but I Standard Chartered Plc’s dealings LEGIONELLA-FREE the same amount into with Iran and other countries under The city said the Le- ‘Shifting Vox Media, the on- would have been very wrong.The answer is not even U.S. sanctions. Promontory, which gionnaires’ outbreak blame to the line publisher of pop- in the city. But it is on Page 19, in the sidebar by had threatened to sue the state De- is over. It also deter- ular sites Eater and Danni Santana and Erica Davies. Sift through the partment of Financial Services and mined that the Opera City Council is Re/code. The invest- eight-page section and see what else surprises you. challenge its authority, admitted it House Hotel cooling ments will help didn’t always meet current state re- tower was the source not the kind of NBCUniversal cap- of the disease, which leadership we ture a younger audi- killed 12 people and ence,who are increas- THIS WEEK IN CRAIN’S sickened more than need from ingly ditching 100.Under a new law, City Hall’ traditional TV. IN THE BOROUGHS---------------------------4 landlords must in- —Actor Liam Neeson, THE INSIDER -----------------------------------------------6 spect and clean cool- NEW UNICORN IN TOWN on the mayor’s comments IN THE MARKETS----------------------------------7 ing towers,which can that it was up to carriage- Manhattan’s ZocDoc REAL ESTATE -----------------------------------------------8 harbor the Legionel- horse opponents to lobby became a member of la bacteria, every the council to pass the ban New York’s billion- HEALTH CARE --------------------------------------------9 three months. dollar tech club. The OPINION --------------------------------------------------------10 online medical appointment site COMMENTS----------------------------------------------10 DAILY NEWS SALE CALLED OFF said a recent funding round that GREG DAVID-------------------------------------------- Owner Mort Zuckerman, who had raised $130 million puts its value at 11 hoped to fetch $200 million for the $1.8 billion. That places ZocDoc at OP-ED ----------------------------------------------------------------11 struggling tabloid,announced that the No.4,behind WeWork ($10 billion), STATS AND THE CITY ------------------12 paper is no longer on the auction block. Vice Media ($2.5 billion) and Blue CLASSIFIEDS -----------------------------------------20 CURBING TOPLESS WOMEN Among the interested bidders were Apron ($2 billion), according to CB SOURCE LUNCH GOTHAM GIGS -------------------------------------24 Mayor Bill de Blasio wants to real estate bigwig Steve Witkoff and Insights. Robert Ivanhoe of Greenberg EXECUTIVE MOVES------------------------ regulate topless painted women grocery magnate John Castimatidis. Traurig’s global real estate 24 in Times Square who pose for CITY STUCK WITH TRUMP practice talks hot deals and SNAPS--------------------------------------------------------------26 photos for money, and he’s cre- FEDERAL BRIBERY CHARGES SETTLED New York can’t legally cancel its foreign investments P. 25 FOR THE RECORD---------------------------27 ated a task force to address the BNY Mellon agreed to pay $14.8 bil- contract with Donald Trump, but matter. One solution he is con- lion to settle charges by the Securities don’t expect it to do future business CORRECTIONS (SEE PAGE 23) sidering is ripping out the pedes- and Exchange Commission that the with the presidential hopeful. The vol. xxxi, nos. 34, 35, august 24, 2015—Crain’s New York Business (issn 8756-789x) is trian plazas that his predecessor, bank gave internships to family city began reviewing its contract published weekly, except for double issues the weeks of June 29, July 13, July 27, Aug.