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Candidates for governor ignore business P. 3 | The List: Metro area’s biggest employers P.

loyers P. 10 | Political insider gets baking in the Bronx P. 27

SEPTEMBER 10-16, 2018 PRICE $3.00



Louise Mirrer, Steven Safyer,
Mary Ann Tighe, Steve Hindy,
Alair Townsend and Kevin Ryan
have redefined business as usual PAGE 13




P001_CN_20180910.indd 1 9/7/18 6:56 PM


P. 13


Found money
FRIDAY AFTERNOON of Labor Day weekend,
a breaking-news alert in my inbox revealed
that President Donald Trump had signed an
executive order intended to help small busi-
nesses offer retirement plans to employees.
The timing suggested the administration
wanted little attention paid to the news, but
I can’t imagine why. Getting people to invest
for the long term is a noble cause—which was
reinforced for me last month, when I began managing the finances of
an elderly friend who struggles to keep up with his mail.
I established online access for his accounts, put every bill on auto-
pay and went paperless—which eliminated the penalties he’d been
incurring for occasionally paying late and the $3 per month Santander
Bank was charging him for paper statements. Before I canceled his
Amex card, on which he had spent $869 last year but incurred $200
in fees, I ordered him $975 worth of gift cards with the rewards points
that had been piling up since 1981. This uncompensated work took
many hours over many days, but I found the process oddly satisfying
and even fantasized about starting a side business to do it for others.
My favorite part was finding a long-forgotten retirement account
with $3,200 in it, a tidy sum for someone living from one Social
Security check to the next, who had never earned much and who
had sent his three kids to college. I always assumed he had never set
any money aside for savings. Indeed, he hadn’t: The online records IN THIS ISSUE
showed the account had been funded entirely by his employer in the 9 VIEWPOINTS
UP FRONT New teachers will test city
mid-1970s. I asked how much he thought the company had put in.
labor movement; readers
“A couple thousand?” he guessed. Not even close. Try $75. Half had 3 EDITORIAL
on Con Ed and Nycha
gone into a conservative fund and grown to $600. The other $37.50 Business issues being ignored
in race for governor 10 THE LIST
went into a stock fund and became $2,600. The largest employers in the
I emailed this news to my twin sons at college. “Behold the power 4 IN CASE YOU MISSED IT
metropolitan area
Anonymous Trump op-ed
of the market and compound interest,” I wrote. “This is why we save.”
shows strength of “failing” NYT
Attorney general candidate 13 2018 HALL OF FAME
returns donation after inquiry Six trailblazers in industries
CONFERENCE CALLOUT 6 REAL ESTATE that define New York business
City to announce SoHo 26 FOR THE RECORD
OCT. 4 rezoning this fall Our tally of the week’s buys,
CRAIN’S ARTS & 8 ASKED & ANSWERED busts and breakthroughs
Join Crain’s and cultural importance of HIV research Former Bloomberg chief of
leaders from across the city to staff leaves his desk job to run
share best practices and put a the family bakery
spotlight on the vital role the arts
play in community-building
and driving tourism. CORRECTION
ALICIA GLEN, Montefiore Health System commissioned

deputy mayor for CON EDISON artist Tom Christopher to create virtual reality
housing and CONFERENCE CENTER experiences for its patients. His name was
economic misstated in “This won’t hurt a bit,”
8:30 to 10:30 a.m.
development P. published Aug. 20.

Vol. XXXIV, No. 37, Sept. 10, 2018—Crain’s New York Business (ISSN 8756-789X) is published weekly, except for double issues Jan. 1, June 25, July 9, July 23, Aug. 6, Aug. 20 and Dec. 24, by Crain
Communications Inc., 685 Third Ave., New York, NY 10017. Periodicals postage paid at New York, NY, and additional mailing offices. Postmaster: Send address changes to: Crain’s New York Business, Circulation
Department, PO Box 433279, Palm Coast, FL 32143-9681. For subscriber service: Call 877-824-9379. Fax 313-446-6777. $3.00 a copy, $99.95 one year, $179.95 two years. (GST No. 13676-0444-RT)
©Entire contents copyright 2018 by Crain Communications Inc. All rights reserved.


P002_CN_20180910.indd 2 9/7/18 6:03 PM

AGENDA Business issues getting short shrift
in campaign for governor
SEPTEMBER 10, 2018

ndrew Cuomo has been governor for nearly eight years and
is asking voters for four more. That’s a lot to talk about in one
hour, which is all he agreed to spend debating Cynthia Nixon
before the Democratic primary Sept. 13. A slew of important
issues went unmentioned during their late-August face-off. Voters deserve
more than 60 minutes of one-on-one between the major-party nominees
before the November election.
But that is unlikely to happen if Cuomo wins Thursday—which he will
if the polls are even remotely accurate. His eight-figure war chest, made
possible by New York’s loose campaign-finance rules, allows him to flood NO MEETING OF THE MINDS: Nixon, Molinaro and Cuomo are more than willing
to criticize one another, but there are few opportunities to go head-to-head.
the airwaves with controlled messaging and avoid the risk of an unscripted
debate with Republican challenger Marc Molinaro.
Cuomo’s communications strategy is frustrating. Aside from campaign and other statutes that make projects needlessly expensive, and it should
ads, he sticks to short, single-topic TV interviews—shunning traditional make design-build bidding universal. Cuomo has devoted less energy to
press conferences or public events with wide-ranging Q&A sessions (as he these key issues than to his absurd, ultimately abandoned idea for a tunnel
would face if he agreed to attend a Crain’s breakfast forum). Long-planned under the Long Island Sound.
appearances are added to his schedule at the last minute, conveying a kind SUBSIDIES. Heavy on spending and light on results, the governor’s
of paranoia that perplexes even his staff. economic-development policy needs
Assuming the governor’s re-election rethinking, especially given the bid-rigging
campaign continues during the next two
Give the city control of the subways, convictions it spawned. Albany should not
months, he should at least commit to a reform infrastructure spending and gamble on ventures such as a solar-panel
robust, honest discussion of the most press- rethink state subsidies factory in Buffalo or on gimmicks such
ing business issues. Among them: as Cuomo’s tax-free zones, which flopped
LOCAL CONTROL. The transit system despite being advertised across the country.
should be the state’s top priority but never will be if it remains a political The governor’s success at reforming Medicaid, tightening gun con-
orphan. Control of the subways and buses should be returned to the city trol, capping property taxes and raising the minimum wage showed he
along with some of the revenue the city sends Albany. Congestion pricing, can get things done. But issues crucial to business are being ignored as
a potential funding source, should be a local prerogative. Cuomo bashes Trump, Nixon bashes Cuomo and Molinaro struggles to
INFRASTRUCTURE. The state should junk the scaffold law, Wicks law gain traction. — THE EDITORS

FINE PRINT A Real Estate Board of New York survey indicated that residential brokers have a negative outlook on the market, as their “confidence index” shrunk 16% from the first quarter to the second this year.
The trade association reported myriad concerns among the brokers, including tax reform, rising interest rates, political instability and renters’ growing insistence on avoiding broker fees.


OUTSTANDING FINES to city property owners run into the 10 figures, but a sizable chunk likely
will go uncollected.

“Every $1.5B
Amount the city is owed from

job is $685M quality-of-life fines during the

past nine years

worthwhile $465M
and valuable” $383M
$93.6M Quality-of-life fines—41%
of which were issued by the

—Actor Geoffrey Owens Department of Buildings—

that expired in fiscal 2017
responding to online trolls
attempting to shame him

for working at a Trader Joe’s Violation debt owed
in Clifton, N.J. by the Kushner Cos.






SOURCE: Housing Rights Initiative


P003_CN_20180910.indd 3 9/7/18 7:25 PM

president K.C. Crain
senior executive vice president Chris Crain
group publisher Mary Kramer

Anonymous op-ed another

managing editor Brendan O’Connor

positive sign for Times

assistant managing editors Erik Engquist,
Jeanhee Kim, Robin D. Schatz
copy desk chief Telisha Bryan

S MUCH AS President Donald J. Trump likes to rail against the art director Carolyn McClain
photographer Buck Ennis
“failing New York Times,” that hasn’t been an accurate descrip- digital editor Gabriella Iannetta
tion of the newspaper’s fortunes since at least November 2016. senior reporters Joe Anuta, Aaron Elstein,
Matthew Flamm, Daniel Geiger
Last week’s publication of an anonymous op-ed by a Trump administra- reporters Will Bredderman,
tion “senior official” is a good example of why. Jennifer Henderson, Jonathan LaMantia

Whatever one thinks of the motivations of the unnamed author in data reporter Gerald Schifman
digital fellow Lizeth Beltran
airing an account of chaos inside the White House, sending the story to columnist Greg David
the Times was an excellent demonstration of the paper’s indispensable contributors Tom Acitelli, Cara Eisenpress,
Cheryl S. Grant, Yoona Ha, Chris Kobiella,
role in the nation’s political conversation. And as print advertising de- Miriam Kreinin Souccar
clines and digital ad-growth remains unpredictable, being indispensable to contact the newsroom:
will be the key to growing the company’s most-reliable revenue stream:
subscriptions. 685 Third Ave., New York, NY 10017-4024
The Times now has 2.9 million digital subscribers—roughly double ADVERTISING
what it had two years ago—with a long-term target of 10 million. The pre-
advertising director Irene Bar-Am,
viously slumping stock price has doubled since Trump’s election, to $23. 212.210.0133,
“Investors who are in the stock are in there for the digital-subscription senior account managers Lauren Black,

numbers,” said Douglas Arthur, an equity analyst covering media stocks at Rob Pierce, Stuart Smilowitz
integrated marketing manager Jonathan Yan,
Huber Research Partners. “Nothing else really is important now.” 212.210.0290,
Despite modest gains in subscriber numbers during the second quarter, the paper still posted $24 million in associate art director/marketing
Charles Fontanilla, 212.210.0145
profit—up more than 50% from the previous year—owing partly to a 20% bump in subscription revenue. And it
won’t hurt that the “Resistance” op-ed is already one of the top posts of the year, with more than 12 million page sales coordinator Devin Arroyo,
views as of Friday morning.
“The Times has used data and analytics and done the things it needed to do to keep the ‘Trump bump’ from director of custom content
disappearing,” said Raju Narisetti, a professor at Columbia Journalism School. But the newspaper is still a long way Patty Oppenheimer, 212.210.0711,

from where it once was. “If you go back to 2002, 2003,” Narisetti said, “[the stock] was at $49.” — MATTHEW FLAMM
custom project manager Danielle Brody,
Unstable cable DATA POINT Rising parking costs
director of conferences & events
The Dolans are suing Altice, the com- SINCE MAJOR CONSTRUCTION ON The city Department of Transportation Courtney Williams, 212.210.0257,
pany that purchased Cablevision from last week raised parking-meter prices
the family two years ago. The complaint MOYNIHAN TRAIN HALL BEGAN in Brooklyn for the first time in five manager of conferences & events
alleges that Altice is violating terms of IN AUGUST 2017, WORKERS HAVE years. The increases apply to both com- Ashlee Schuppius,
the agreement by planning layoffs at mercial and private vehicles. Rates are
News 12, the 24-hour cable network LOGGED MORE THAN 1 MILLION scheduled to rise in the other boroughs AUDIENCE DEVELOPMENT
serving the Bronx, Brooklyn and sev- HOURS ON THE PROJECT, WHICH IS during the coming months. group director, audience development
eral suburbs. Jennifer Mosley,
SET FOR COMPLETION IN 2020. Landmark anniversary for Lauren REPRINTS
Goldman opportunity New York’s Fashion Week coincides reprint account executive Lauren Melesio,
A U.S. appeals court last week allowed with the 50th anniversary of Ralph 212.210.0707
a class-action gender-discrimination Philanthropic pitchers Lauren’s brand. To celebrate, the iconic PRODUCTION
lawsuit against Goldman Sachs to pro- C.C. Sabathia of the Yankees and Ste- designer held a benefit fashion show production and pre-press director

ceed. Hundreds of women are cleared ven Matz of the Mets are their teams’ and dinner Friday at Bethesda Terrace Simone Pryce
media services manager Nicole Spell
to join the 13-year-old case, which nominees for the Roberto Clemente in Central Park. — GERALD SCHIFMAN AND
includes allegations that female vice Award. The winner of the annual acco- MARK YAWDOSZYN SUBSCRIPTION CUSTOMER SERVICE

presidents earned 21% less than men in lade, which honors the late Pittsburgh
comparable roles. Pirates outfielder and recognizes off-
877.824.9379 (in the U.S. and Canada).
the-field community contributions, is $3.00 a copy for the print edition; or $99.95
Third track’s time announced during the World Series. one year, $179.95 two years, for print
Ground was broken last week on a subscriptions with digital access.
long-discussed third track for the Long A smoother beach day Entire contents ©copyright 2018
Island Rail Road. The $2.6 billion proj- Regular A-train service was restored in Crain Communications Inc. All rights
ect is expected to alleviate congestion Far Rockaway, Queens, following two reserved. ©CityBusiness is a registered
along a 9.8-mile span between Floral months of repairs. The work was done trademark of MCP Inc., used under license
Park and Hicksville that 40% of LIRR to protect the line from flooding, which
riders pass through. Construction is forced a seven-month shutdown after CRAIN COMMUNICATIONS INC.

expected to be completed in 2022. Superstorm Sandy in 2012. chairman Keith E. Crain

vice chairman Mary Kay Crain

Did what a spider could Beer and cheer for financiers Waterfront views president K.C. Crain
senior executive vice president Chris Crain

Marie Severin, a pioneering comic- Alamo Drafthouse Cinema, the Texas- The first phase of the city’s
secretary Lexie Crain Armstrong
book artist, died Aug. 29 on Long based chain known for serving food largest state park is set to open
editor-in-chief emeritus Rance Crain
Island. She was 89. Severin started as and drinks to theatergoers, announced in Brooklyn next summer. The 407- chief financial officer Robert Recchia
a colorist at EC Comics in Manhattan plans to open a 12-screen multiplex acre Shirley Chisholm State Park,
founder G.D. Crain Jr. [1885-1973]
and went on to become a regular at next year at 28 Liberty St. in the Finan- named after the first African- chairman Mrs. G.D. Crain Jr. [1911-1996]
Marvel, designing covers and contrib- cial District. The company opened a American congresswoman, is
uting to many superhero titles, includ- seven-screen theater two years ago in being built along Jamaica Bay.
ing the first Spider-Woman design. Downtown Brooklyn.


P004_CN_20180910.indd 4 9/7/18 6:52 PM


Attorney general candidate returns

donation from payday lender JAMES
Oklahoma outfit that gave $10K to Letitia James was banned from state in 2014 BY WILL BREDDERMAN

he campaign of Leti- entities: Great Plains Lending and borrow more and more in of four Democrats running payday lenders.
tia James said it has and American Web Loan. an attempt to settle accounts. to succeed Barbara Under- “Any type of loan that is
returned a $10,000 Under New York state’s wood, show the five-figure predatory in nature and takes
contribution from usury laws, a lender charging Shut out contribution came from RS advantage of consumers must
an Oklahoma Native Amer- 16% or more annual interest is After receiving a cease- LLC, located at 8151 High- be stopped. That is why Letitia
ican tribe whose short-term, subject to civil penalties, while and-desist order from New way 177 in Red Rock, Okla. James—as a trustee of NYC-
high-interest loans were one charging 25% or more York, the Otoe-Missouria tribe The Otoe-Missouria identifies ERS—fought to divest from
banned by the Cuomo admin- risks criminal prosecution. and Lac Vieux Desert Band of that address as its own on its payday lenders,” the spokes-
istration in 2014 for violating The Department of Financial Lake Superior Chippewa Indi- webpage; federal documen- man said.
state usury laws. Services may refer such mat- ans sued in federal court alleg- tation corroborates that. Fur- James’ bid has the backing
“This contribution does not ters to the attorney general, the ing the state had overstepped ther, RS LLC’s incorporation of Gov. Andrew Cuomo, who
align with our values and thus state’s lawyer. its authority by attempting to documents filed with the state controls the Department of
has been returned,” a cam- On its website, Great Plains regulate tribal activity. government in Kansas name Financial Services, and of the
paign spokesman said. Lending advertises annual per- Schneiderman’s team was Ted Grant as a contact for the New York State Democratic
In 2013 the state Depart- centage rates of up to 448.76%. able to defeat both the suit and company. Grant serves as vice Party, which he also controls.
ment of Financial Services Crain’s found self-identified the tribes’ appeal in 2014. The chairman of the tribe. She faces Fordham Profes-
and Eric Schneiderman, then American Web Loan cus- attorney general’s office said The tribe did not respond sor Zephyr Teachout, upstate
attorney general, became tomers complaining of APRs there is no active litigation. to a request for comment. Rep. Sean Patrick Maloney
embroiled in a legal battle higher than 500%. American Web Loan’s web- In response to Crain’s and former Port Authority
with the Otoe–Missouria Critics of payday lenders site now includes a disclaimer inquiry about the Otoe- commissioner Leecia Eve in
Consumer Finance Services claim that such high interest stating the lender does not do Missouria donation, James’ the Democratic primary Sept.
Regulatory Commission—a rates trap low-income custom- business in New York. campaign pointed to her 13. The victor will be heavily
governmental subdivision of ers in an inescapable cycle of The latest campaign finance efforts to rid the New York favored to win in November

the Otoe-Missouria tribe— debt, as they find themselves disclosures from James, the City Employees’ Retirement against Republican Keith Wof-
and two of its payday-loan unable to repay the advance city’s publicT:9.125
in and one System of investments in ford, a Manhattan lawyer. ■

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SoHo rezoning plan

to reverse outdated rules
Process aims to lift manufacturing codes evaded or ignored for decades BY JOE ANUTA

he de Blasio administration plans to yet to be hashed out, though the department
announce a rezoning effort in SoHo and has completed a study of the area.
NoHo this fall—including a strategy to mini-
mize controversy. It may be wishful thinking. Historical shift
The Department of City Planning, working with “Engaging with stakeholders in SoHo and
Manhattan Borough President Gale Brewer and NoHo to improve this area’s out-of-date zon-
Councilwoman Margaret Chin, seeks to tackle a ing has been a priority of mine for several
longstanding issue in the neighborhoods: Ground- years,” Brewer said in a statement. “It’s very
floor retail and residential apartments have become early, but I’m glad this idea is gaining steam,
common, but they are not allowed and look forward to part-
under industrial zoning rules still nering with [City Planning
on the books in SoHo and part of A plethora of shops and Chin] to get feedback
NoHo. The discrepancy has compli- and apartments are from the community and
cated property ownership and led to start a planning process.”
unpredictable growth. illegal under current SoHo buildings largely
Rectifying the mismatch entails were built by manufactur-
changing the manufacturing zon-
rules, complicating ers and wholesalers in the
ing to allow more uses as-of- real estate deals and last half of the 1800s. By the 1950s, certain tenants using space illegally to apply for pro-
right—without special approval. tenants began leaving as the city lost tection from eviction. The statute required building
The department, however, plans curbing growth manufacturing jobs. owners to bring their property up to code under the
to solicit public input first to get a That’s when things got compli- oversight of a special board.
sense of what stakeholders would cated. Artists and galleries started Since then the neighborhood has become a pop-
like to see before drafting specific proposals, accord- illegally occupying space in the increasingly desolate ular location for office space, which is allowed under
ing to multiple sources with knowledge of the plans. neighborhood, and they spruced up vacant buildings the industrial zoning. Not so ground-floor retail and
Officials might eventually convene a steering com- that otherwise would have deteriorated. pricey new apartments, yet they also have prolifer-
mittee similar to those that shaped the rezonings of The city amended the zoning in 1971, but only to ated through a variety of indirect means, according
the Garment District and Midtown East; they ulti- legalize live-work spaces explicitly for artists. Two to a zoning guidebook released this year by the SoHo

mately traversed the public-review process. However, years later the neighborhood was landmarked. And Broadway Initiative, a business-improvement district
a spokesman said the public engagement process has in 1982 the state passed the Loft Law, which allowed focused on the area’s main shopping corridor.

‘Takeover’ feared
Some retail uses have been grandfathered in; oth-
ers have been legalized by special permits. Meanwhile,
newer residents have made dubious claims that their
apartments are the type of live-work spaces for art-
ists allowed under the 1971 amendment. And many
shops and apartment dwellers simply have ignored
the rules altogether.
The result has been uneven and piecemeal change
that has increased red tape for owners and govern-
ment and has been slowly transforming the neighbor-
hood without any of the holistic thought that comes
with a broad rezoning.
“Having zoning that doesn’t align with the pre-
dominant uses of a neighborhood puts a strain on res-
idents, property owners, businesses and city agencies,”
Mark Dicus, executive director of the SoHo Broadway
Initiative, said in a statement.
But untangling the area’s arcane rules while appeas-
ing a diverse group of stakeholders would be difficult.
Many residents want to keep artist requirements and
prefer an extensive permitting process that allows
them to weigh in on what types of retailers set up shop.
“Nobody in SoHo wants a zoning change,” said
Sean Sweeney, director of the SoHo Alliance, a group
that advocates for residents. “We’re worried that real
estate and large retail interests will take over the
neighborhood from the pioneers and the newcomers
who created the community.”
Also unclear is whether the city will push for addi-
tional housing. The historic designation for much of
Make aW]ZUMM\QVOUIOVQÅKMV\ the neighborhood makes it challenging for the city to
increase residential density, even if it wants to.
Advocates for housing growth, who criticize the
administration’s habit of increasing residential density
For information email primarily in low-income neighborhoods, might push
Or call (212) 549-0550 to upzone parts of the area. Any such effort would be
opposed by preservationists arguing that taller build-
ings would destroy the neighborhood’s character. ■


P006_CN_20180910.indd 6 9/7/18 7:06 PM

users on the features in their AV systems and figuring out
how to create a more collaborative environment.
How AV technology can help you reach Crain’s: As firms upgrade their technology

your business goals infrastructure, what’s the best way to identify

the appropriate systems and personnel? What are
important qualities to look for?

udio visual technology is changing the If you don’t keep up with technology, your competitors Raspantini: When upgrading technology infrastruc-
way meetings are conducted, reducing already have an advantage even before addressing any ture, clients must identify if they want to go with a tradi-
challenges in your core business. Plus, with outdated tional hard-wired solution or if their IT infrastructure can
travel costs and enhancing marketing equipment you are bound to face connection and handle sending all AV signals via the network. You want
strategies. Incorporating these technologies performance issues. From the television industry to in- to ensure that whatever platform you choose is as user
can help companies expand markets and audi- teractive museums, companies have to stay up-to-date friendly as can be. Interoperability and scalability are
with technology to be productive and competitive. key both for the present and the near future.
ences, improve revenue and increase employee
and customer engagement. Crain’s: How can video increase brand awareness? Throughout the years, we have seen many companies,
What are the advantages and disadvantages of in-house across different sectors, struggling with what they don’t
To gain insight on the latest developments in AV tech- video production versus using an external partner? understand. Many have faced setbacks in trying to
nology, Crain’s Custom turned to Achille Raspantini, manage their own business and ended up forgetting
founder and CEO of Tech-Ops, a technology services Raspantini: The key ingredient for the success of about what is most important: their clients!
and staffing solutions provider. every business is attracting and engaging the right target
audience, and video can be very helpful in that effort be- It’s even more daunting to upgrade technological infra-
cause it can make a strong marketing strategy stand out. structure because technology is always changing. For
For instance, companies can deliver brand messages on those who don’t live and breathe the business, trying to
well designed digital signage. Or they can promote new stay current can be exhausting. Tech-Ops helps people
products with demo videos on public displays. who find themselves lost because they don’t under-
stand the extent to which AV technology can improve
One of our clients that operates in the public enter- their daily routine, or who have no idea what to look for
tainment sector used video production to show their when hiring an AV/IT professional.
branches, information about their business hours and
some content about their environment. The screens A technology company should perform a thorough
also display messages from satisfied customers, which needs assessment to figure out on a visceral level how
Achille Raspantini creates an instant promotion and educates clients you are going to use your AV room. The company should
Chief Executive about the services they provide. help you understand your requirements and challenges
Officer & Founder and educate you on technology solutions. It is import-
Usually, an in-house video production team will be able ant not to “over engineer” your room or overestimate
to deliver product faster, and communication among needs, which can drive up costs. Ultimately, that’s why it’s
internal employees may be more efficient than with an as important to screen for honesty and integrity as for
outside company. However, a reliable outside company knowledge and expertise.
usually is more experienced and
Crain’s: What types of AV technology should can deliver a higher quality prod-
firms consider implementing or upgrading? How do uct, which is also valuable.
they begin the process?
Crain’s: If a company uses
Raspantini: Companies need their employees to
work smarter, faster and more productively. AV collab-
oration technology can bridge this gap, allowing com-
AV technology only intermit-
tently, how can they identify
opportunities to increase the
Are you making
panies to expand their reach without expanding their
physical spaces. For example, investing in a well-de-
reach and power of this kind of
the most of your
signed conference room with a flexible videoconferenc-
ing system, intuitive presentation software and reliable
sound quality is more cost effective than having your
Raspantini: Perhaps the com-
pany doesn’t have an in-house AV
executives and sales teams travel around the country. specialist—this is probably the main
reason they’re not taking advantage TECH-OPS is a full service audiovisual technology
In a recent survey of readers of Successful Meetings, of an AV room’s full capability. It’s company that is focused on delivering solutions,
more than half of respondents said effectively integrat- producing a collaborative office environment
important to identify the main prob-
and creating an effective sharing culture.
ing technology into meetings is a substantial challenge lems: Are there collaboration issues?
for them. To improve meeting technology, companies Are there communication problems? The benefits TECH-OPS provides, include:
should look for an AV system that supports different Or are expenses high? If so, can
kinds of devices across multiple platforms, without they be reduced? A well-trained AV
having to worry about compatibility. At the end of the engineer can bring the convenience
day, you need a reliable AV integrator who can deliv- of AV technology to address these
er all of that and keep you up to date with the latest challenges. It’s important to have DESIGN & INTEGRATION AV MAINTENANCE
technology. the right people on your staff. They
should have broad knowledge about
Crain’s: What advantage do businesses gain by AV, including various types of sys-
staying up to date on AV technology and systems tems; be able to foresee the whole
or employing new technology? And what are the
integration process; have empathy
disadvantages if they let their technology get out toward their in-house clients; and
of date? be able to communicate technical
concepts to non-technical people.
Raspantini: Modern technology provides several AV & IT STAFFING LIVE EVENTS
advantages: feeling closer to your clients, increasing On the AV staffing side of our com-
collaboration among your employees, saving you mon- pany, we train our technicians and
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Ask_The_Expert_TechOps.indd 1 06/09/2018 16:54



ay Men’s Health Crisis launched in 1982, the

first community-based HIV-services organization.
Although the virus is still most prevalent among More than 40%
gay men, the demographics of those infected are of our clients are
changing. Since joining GMHC four years ago, CEO Kelsey Louie
has overseen the addition of programs, the acquisition of a
now 50 or older,
research organization and a move to offices that he says will and that number
be more accessible to the 13,000 diverse clients the nonprofit will only grow”
serves annually.

How has the HIV epidemic changed?

People are living longer with HIV because of the successes
of medications, so the population is growing older. New HIV
infections have gone down in New York state—except for women,
particularly women of color and trans women of color.

How does that affect your work?

We’re making sure our messaging around prevention is targeted
toward women in particular. That’s part of why we opened mental
health and substance-use clinics—places where we can see any-
body, regardless of their HIV status. Untreated mental health and
substance-use issues along with unstable housing help fuel the
epidemic. In 2016 GMHC started offering housing to people who
are HIV-positive and homeless for the first time, and within that we
have a special program for survivors of domestic violence.

What led GMHC to acquire HIV-research organization ACRIA?

We understand the concept of economies of scale and synergies
when you have two organizations merge. And given that ACRIA
focuses its research on older adults with HIV, we saw the synergy
between the two organizations’ work. More than 40% of our clients
are now 50 or older, and that number will only grow.
What is the future of HIV services as the number of new infections drops? WHO HE IS CEO of GMHC
We are going to follow the data. We created that special housing BORN Bay Ridge
program when we learned there was a spike in HIV-positive RESIDES Midtown West
people becoming homeless because of domestic violence. And EDUCATION Bachelor’s
we launched a hub for long-term survivors that includes a buddy in psychology and East
program as well as workshops and events geared toward this Asian studies, and master’s
population, which can be somewhat isolated. of social work, New York
University; M.B.A., Columbia
How have the state’s HIV funding priorities changed? University
We’re defining the goal of ending the AIDS epidemic in New York as NEW HOME GMHC moved its
getting the number of new infections down to fewer than 750 per headquarters in July to six floors of
year. [There were more than 2,800 in 2016.] A key portion of the a building on West 38th Street. The
governor’s plan is not only getting people tested but also linking 90,000-square-foot facility houses all the
programs that were in the old location and
them to care and preventing HIV infections. Prevention is critical.
is flexible enough to allow for expansion.

Are there misconceptions about the realities of HIV in New York? HELPING HAND GMHC offers a
Many people believe that HIV and AIDS are no longer problems. technical-assistance program to help other
HIV-services organizations “learn how to
There’s a sense of complacency, especially among the younger
do this type of work effectively and
generation. It’s important that everybody is educated about the efficiently.” To improve his own
need to continue to push for HIV services and safer-sex education. operation, Louie has emphasized
In fact, with the ACRIA acquisition, GMHC is now one of the largest data collection and analysis. “We

providers of safer-sex education in city schools. HIV and AIDS are a nonprofit organization,” he said,
thrive in the shadows of shame and stigma, so these are things “but we are also a business.”
we really need to address if we want to end the epidemic.

When you were younger, did you fear HIV?

By the time I was of sexual age, AIDS was synonymous with sex
and a constant concern. I also saw a lack of gay role models. As I
got older, I understood that what I was seeing was the impact of the
generation before me having their entire community decimated. ■


P008_CN_20180910.indd 8 9/6/18 2:59 PM

66% 68% NYC NYS US

New teachers will be test

for state’s labor movement 23% 24%
11% 15%
Union scrambling to enlist recruits at New York schools 6%
Total Public Private
SOURCE: CUNY School of Labor and Urban Studies
THE FUTURE of the the union after the court decision.
labor movement If the UFT succeeds in recruiting
in New York—and the new teachers, it will be another sign HIGHEST AVERAGE TEACHER PAY, 2017
maybe nationally—is of the resilience of the labor movement NEW YORK
playing out in schools in New York. The 2018 State of Unions $79,637
across the city as the report from the CUNY School of Labor CALIFORNIA
United Federation and Urban Studies found that unions $78,711
of Teachers works represent 23% of workers in New York MASSACHUSETTS
GREG DAVID to sign up the 4,100 City, a figure that essentially has held $77,804
employees newly steady since 2013. The figure for the WASHINGTON, D.C.
hired by the Department of Education. state as a whole also has been stable, at $76,131
Before the U.S. Supreme Court’s just under a quarter of the workforce, CONNECTICUT
crucial Janus ruling in June, winning making New York the most unionized $72,581
over new teachers didn’t matter quite state in the nation. As the table shows,
SOURCE: National Education Association
as much, because they had to pay dues the city and state numbers are more
to the union whether they joined or than double the nationwide rate.
not. But under the Janus decision, New The conservative organizations that The CUNY report illustrates the The story was the same elsewhere.
York and 21 other states with similar financed the Janus fight did so because importance of teachers to the orga- States that deducted dues from every-
rules no longer may deduct fees from they believe it will weaken the remain- nized labor movement. They represent one paid their teachers more: an aver-
the paychecks of public-sector workers ing political power of the union move- the biggest percentage of public-sector age of $28.25 per hour, compared with
who don’t join their workforce’s union. ment. When Wisconsin restricted workers, are primarily women and in $21.25 in the states where dues were
The UFT says it has signed up half union rights in 2013, the percentage of New York are to a large degree minori- optional—known as “right to work”
the new hires so far, the number of public-sector workers represented by ties. Organizing has paid off for them. states. ■
nonmembers covered by its contract unions there was cut in half—to 23% The average pay for a teacher in the
fell to 400 at the end of the summer, from 47%. Teachers joining unions in state last year was almost $80,000, the GREG DAVID writes a regular column
and only two teachers resigned from Wisconsin fell to 46% from 76%. highest in the nation. for


Con Ed doesn’t play favorites; Nycha fan opposes demolition

WE WERE SURPRISED by it would be inappropriate cannot give preferential and replace residents— Forcing hundreds
the op-ed calling for for us to ask our 3.4 mil- treatment. We owe that them with new “The authority of thousands of black
preferential treatment in lion customers to subsi- to the hard-working units that are has enough and Latino New York-
Con Edison’s sale of land dize a specific use, such residential and business “energy-efficient space for new ers into homelessness,
in northern Brooklyn as parks and waterfront customers who rely on and cheaper to mixed-income, shelters and private slum
(“What worked and what esplanades, through their us for affordable energy maintain.” street-grid housing—to the extent it
didn’t on Brooklyn’s energy bill. It is up to the service. I grew up in housing for its is even available—is no
waterfront,” Crains- city to determine land- KYLE KIMBALL public housing, residents and solution. I’ve met thou- We seek use policy and how tax VP, government relations as did millions FULANI others”—do they sands of decent, ordinary
to sell land when we no dollars are used. Con Edison of hard-working really expect us New Yorkers who under-
longer need it for energy Con Edison has a long Americans. We wouldn’t to believe that developers stand that Nycha resi-
operations. We see this history of supporting SAVE OUR HOUSING argue that public housing and politicians who prof- dents have deep roots in
land [below], which environmental initiatives. THE CRAIN’S EDITORIAL is ideal or even as desir- ited from massive gen- this city and have helped
we bought in 1984 and In 2017 our shareholders “Knock down the able as the suburban tract trification would invest to create its vibrant
remediated in 2011, gave more than $2 mil- projects and bring in developments built for in new housing for poor culture. They’re troubled
as suitable for sale and lion in charitable support the cranes” (published white working-class peo- and working people? by the threat to public
want to get the best price toward protecting the Aug. 20) should send a ple by the Federal Hous- And where would they housing and the impact it
possible—which benefits environment and main- chill down the spine of ing Administration after live while it was built? has on its residents. New
our customers. taining green spaces. any New Yorker who World War II. But “the I can hear our mayor York was never destined
It is not Con Edison’s Developers interested understands the differ- projects” provided a safe and other Democrats to be a city only for

role to dictate land-use in our properties often ence between a balance and stable environment saying (after the dem- those with wealth. Public
or “good design” policy ask us to deal exclusively sheet and human lives. for our families. Why else olition) how sorry they housing must remain a
on behalf of the city. And with them. Our response Crain’s argues that would more than 250,000 are that the money could vital part of our city and
always is: We can even if the $31.8 bil- New Yorkers get on the not be raised for this be invested in.
sell only through lion were available to Nycha apartment waiting construction because LENORA FULANI
a transparent, renovate New York list and hope to receive Republicans won’t fund The writer founded the
equitable process City Housing Authority the only affordable hous- it. They overlook that Committee for Indepen-
that provides buildings and apart- ing in New York City? Democrats also stood by dent Community Action,
opportunity to all ments, it would be better While Crain’s while this vital part of which has been organizing
potential buyers. to demolish the homes editors pay lip service the city’s infrastructure Nycha tenant leaders,
We do not and of 600,000 New Yorkers to the needs of Nycha deteriorated. residents and supporters.

CRAIN’S WELCOMES SUBMISSIONS to its opinion pages. Send letters to Send op-eds of 500 words or fewer to Please
include the writer’s name, company, address and telephone number. Crain’s reserves the right to edit submissions for clarity.


P009_CN_20180910.indd 9 9/6/18 4:30 PM

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P012_CN_20180910.indd 12 9/6/18 5:54 PM


This year’s inductees blazed
new trails in the industries
that define New York business


P013_CN_20180910.indd 13 9/6/18 4:25 PM



“ Had I not been a
token, I would not

ouise Mirrer is trained as an academic historian have had the
specializing in the narrative of the Middle Ages. career I have had.
She has played a key role in the revival of the City I don’t believe
University of New York and has transformed the I faced barriers
New-York Historical Society over the past 14 years.
as a woman, but
maybe I am so
Why did you go into history?
History is the root of all things. If you know history, you’re positioned
academic that I
to consider political and social concerns, to understand people. was oblivious”
What attracted you to academia?
My mother was a historian. She instilled in all three of her children
a love of learning and an enormous respect for people with Ph.Ds. I
decided I’d get a doctorate with no particular plan, but once you get
one, you aren’t equipped to do much else than go into academia.

And academic administration?

Administration was an accident. I had moved to the University of
Minnesota and was offered the department chair. In the course of a
year, there was so much pressure on the administration to be more
diverse—it consisted of all tall white men—that I was plucked from
my position and became a token in the administration. And I liked it.

You were a key player in the turnaround of CUNY. What was your role?
CUNY was all things to all people except the most talented, and I
was given the assignment to develop the plan for what is now the
Macaulay Honors College. I was also given the task of develop-
ing a new school of journalism. The idea was that journalism was
extremely important, competing schools were extremely expensive,
the kinds of students that chose CUNY were frozen out of the pro-
fession and that CUNY could provide diversity to the profession.

I guess the New-York Historical Society was a perfect fit for you.
I always wanted to run a cultural institution. I had spent my
academic career thinking about how history gets told.

How would you describe the society when you took over?
I arrived in 2004, when people didn’t know what it was. But what
it had was an extraordinary collection that allowed us to mount the
first blockbuster in its history, marking both the 200th anniversary
of the demise of Alexander Hamilton and the 200th anniversary of
the founding of the institution.

What was your strategy?

Do big, bold expositions that the public would hear about, think
about and that would awaken them. I also was told to bring school-
children here. Today 200,000 schoolchildren learn history with us.

What do you look for? What does the women’s center showcase?
What we have done is look for stories that are unknown and
untold. My second major exposition was slavery in New York,
which woke up the city to the fact that New York had more
slaves than any other city in the Colonial era. Women’s history
is an obvious gap. The center brings together scholars and FAMILY TIES Mirrer’s mother did
pushes forward knowledge of women’s history. research at the New-York Historical
Society in the 1940s.
What was it like to be a woman in academics and at a nonprofit? A STORY OF GROWTH The
I have been very lucky. Had I not been a token, I would not society’s budget is now $29 million,
have had the career I have had. It is important to recognize up from about $5 million when she
the power of “We need one of those or two of those or 100 of arrived. It employs 150 full-time staff
and 100 part-timers.
those.’’ I don’t believe I faced barriers as a woman, but maybe
I am so academic that I was oblivious. FAVORITE HISTORY BOOK Ron
Chernow’s biography of Alexander
Hamilton. Much of the research was
What’s next for the historical society?
done at the society.
The Citizenship Project builds on our strength to help immigrants
become Americans. This year we helped 1,000 people pass the CIVIC ACTIVITIES She has spent
test, and we plan to double the number in the next year. The Presi- 13 years on the board of the
educational nonprofit The Leadership
dential Historical Commission will deal with the lack of knowledge
Academy, including serving as
about the executive branch, the powers of the president and the chairwoman from 2008 to 2015.
Electoral College. ■


P014_P017_CN_20180910.indd 14 9/6/18 2:47 PM

CN018799.indd 1 9/4/18 3:35 PM


teven Safyer grew up on Long Island. He has spent his
entire career as a physician at what is now Montefiore
Einstein Health, the past decade as president and CEO.
Bronx-based Montefiore is one of the four dominant health
care systems downstate, with annual revenues of $5.5 billion.

Why did you become a doctor?

I had gone to Cornell University, intending to be a labor lawyer. As
graduation approached, I knew I didn’t want to be a lawyer. I was
very involved in the anti–Vietnam War movement and went into orga-
nizing in Chicago and San Francisco. But at some point I realized my
mom was correct—that I needed a career—and I decided to go to
med school because I thought medicine would be pure.

Why Montefiore?
I entered the Albert Einstein College of Medicine as I was just about
to turn 30. I didn’t know much about Montefiore, but I went to con-
sider a residency. It seemed to be the place to go because it shared
the values of Einstein, which were social justice.

What did you learn as a young doctor?

That social justice theme permeates everything. You cannot be suc-
cessful without your health, and the determinants of health depend
as much on your place in the world as on excellent care.

What shaped you?

I grew up as a young doctor in the midst of the HIV
epidemic, and the Bronx was an epicenter. I worked

in a program at Rikers Island and helped discover
that about 25% of the population was HIV-positive. You cannot be
When an effective treatment was developed, I had
to advocate for that as well as for TB treatments.
successful without
Montefiore gave me the support I needed and in your health, and the
turn put me in charge of it.
determinants of health
What attracts you to administrative jobs? depend as much on your
I can affect many more people and have an place in the world as on
impact on a community.
excellent care”
How is Montefiore improving health in the Bronx,
which has the worst outcomes in the state?
We take care of people who don’t have
insurance, and we never turn anyone away.
We have gone into the community. We are in
65% of the schools with mental health, drug
treatment, even dental clinics. We work to
keep young girls from getting pregnant. We
still see patients who leave Rikers Island at
a special clinic. We work with bodegas to get
better food in the stores. ACTIVIST ROOTS When Safyer was
3, his family moved from Brooklyn
But it is also a top-ranked hospital. to Malverne, Long Island, a town at
the center of an integration effort
We have built programs that equal or exceed
important enough for Martin Luther
those in Manhattan. We are now doing very King Jr. to come to town. Safyer
complicated lung transplants; only one other remembers the event to this day.
New York City hospital does them. We have sep-
CIVIC ACTIVITIES He is on the boards
arated conjoined twins fused at the brain and the of the Josiah Macy Jr. Foundation,
vessels. We have done five of the seven success- the Association of American Medical
ful surgeries of this kind in the world. Colleges, the Council of Teaching
Hospitals and Health Systems, the NYC
Why have you built your network north of the city? Board of Correction, the Coalition to
We have worked with the state to save failing hospitals needed Protect America’s Health Care and the
in communities where patients would have a hard time getting University HealthSystem Consortium.
health care, like the southern tier of Westchester. That area WHAT’S NEXT? “There are still many
is very challenged, and we have turned around a number of hospitals that are not performing
failing hospitals. But we don’t discriminate against people as they should be in our footprint.
with means, so we are affiliated with White Plains Hospital, We don’t want everyone coming
to Montefiore if they can get the
the premier hospital in Westchester. We have sought a
comprehensive care they deserve near
continuous geography so patients have access to sophis-
their homes.”
ticated care without going to Manhattan. ■


P014_P017_CN_20180910.indd 16 9/6/18 2:54 PM




CN018800.indd 1 9/4/18 3:34 PM



ary Ann Tighe is the longtime chief executive
of the tristate region for CBRE Group. She is a
pioneering woman in real estate, the first one to
chair the Real Estate Board of New York, and the
“ Having a woman as
a role model who
dealt with much
go-to broker for many of the biggest leases in New York. harder times than I
did was helpful”
You started out in the arts and moved to working on the arts in the
White House for Vice President Walter Mondale.
My first love was the arts. My favorite place as a child was the
Metropolitan Museum of Art. I had an opportunity in my 20s to
go to work in the White House, and once you touch politics at
that level, you realize how impactful you can be on the world.

And then you went into real estate at Edward S. Gordon. Why?
Real estate solved a life puzzle for me. I kept trying to find a job
in a business that was a meritocracy. I also needed a job that
wasn’t in the arts because I could not work for any organization
I had helped get money while in government. And I wanted a job
that did not involve travel that would keep me from my husband
and son.

You have said you floundered for the first 18 months—until Carol Nelson
took you under her wing.
I entered a completely alien environment that in the mid-1980s
was a Wild West where every kind of behavior that would be
offensive today was standard operating procedure. I couldn’t
figure out the value system. I joined the firm in part because
Carol was a role model there, the only woman doing significant
commercial real estate brokerage transactions. I was able to
observe her, and Carol was a great teacher at life instruction.

You have been responsible for so many leases that were crucial in
the turnaround of neighborhoods. How did those deals get done?
People don’t come to you with a specific agenda. It is a case
of studying what they need and finding the best operational,
cultural and financial solution. I always remember this great
conversation with Punch Sulzberger [former publisher of The
New York Times], who told me he would never leave their 43rd
Street location because it cost him nothing. But the electrical
closets dated from 1913 to 1943, and they had to keep iron-
workers on the job 24 hours a day, 365 days a year to keep
the lights on. We were able to show it was cheaper to build a
new headquarters.

You have always been at the intersection of real estate and

government. What have you learned about getting things done?
The biggest lesson was the rezoning of Midtown East
because it showed you have to build support in all sectors.
We didn’t pass it in the Bloomberg administration, but
we eventually built enough of a constituency for it that we DOSSIER
were able to get it through in the de Blasio administration.
board member of the Archdiocese of
Why is Midtown East so important?
New York and St. Patrick’s Cathedral,
It shows that once you put an opportunity in front of the busi-
a trustee of the Inner-City Scholarship
ness community, they are going to do things you didn’t envision. Fund, a vice chair of the Lung Cancer
Who would have ever guessed Jamie Dimon would tear down Research Foundation, a member
JPMorgan Chase’s headquarters and build anew? of the Chairman’s Council of the
Metropolitan Museum of Art and
As a woman, what was the key to your success? co-chair of its business committee.
Having a woman as a role model who dealt with much harder HARDEST DEAL “The New York
times than I did was helpful. On the brokerage side, once you Times. We had to do a ground lease
begin to succeed, you are making money for colleagues and with the city, a joint venture with
doing something beneficial for clients, then you are doing some- Forest City Ratner. We had to lease
thing for people, who then conduct themselves appropriately. the speculative space. We had to do
a condo structure. We had to run an
architectural competition—not to
How is the industry for women today? mention the eminent domain that was
We are seeing women in every aspect of the business, especially involved had to go all the way to the
in the past five years. It’s because of people being mentored by U.S. Supreme Court.”
MaryAnne Gilmartin, Amy Rose, Leslie Wohlman Himmel and me.
DO-OVERS? “I am not a regretter.”
We have become a feeder for the industry. ■


P018_P020_CN_20180910.indd 18 9/6/18 3:54 PM


CBRE congratulates Mary Ann Tighe on being inducted into the Crain’s Hall of Fame.
Mary Ann is quintessentially New York. Born and raised in the Bronx (pictured here with her mother), she has
for more than 100 million square feet of transactions—many of them skyline-shaping—and she’s lent her

CN018801.indd 1 9/4/18 3:31 PM



teve Hindy, a former foreign correspondent, co-founded
Brooklyn Brewery in 1988, at the very beginning of
the craft beer sector’s emergence and the borough’s

You’ve described your journey from journalist to beer maker as happenstance.

Your wife put the kibosh on your being a foreign correspondent in places like
Lebanon. You happened to live in the same building as a disillusioned banker
with financial expertise and a desire to do something else.
In a lot of ways this was all serendipity. I had come back from the
Middle East and was working as an editor at Newsday, and it was bor-
ing compared with what I had been doing. I looked at the future, and
making beer at home was fun. I thought Brooklyn, with an incredible
history of brewing, would be a great place to make craft beer.

Why has craft beer become such a big part of the American beverage scene?
What happened with craft beer is similar to what happened to all pro-
ducers of foods like cheese, coffee and ice cream in a big way. Once
there were few choices in the supermarket. Now there are many.

What is the secret to Brooklyn Brewery’s success?

I am not sure I want to reveal any secrets. We named the
brand Brooklyn when there were so many naysayers who
said, “How is that going to play outside New York?”
Brooklyn is a mythical place in America’s imagination,
and so many people have roots in Brooklyn. I give

a lot of credit to my designer, Milton Glazer, who
talked me out of naming the brewery Brooklyn Gentrification has
Eagle after the newspaper. He said, “Just Brook- brought a lot of
jobs that didn’t
What is the secret to the Brooklyn revival? exist 30 years ago.
It has an incredible history. It is a place where
makers and creators have always congregated. I don’t buy the ‘two
I didn’t foresee the influx of educated young Brooklyns’ idea”
people from all over the world doing amazing
things in business, art, books, theater and
music. It has become a creative hotbed.

Do you have any regrets about the way the

Brooklyn story has played out?
I do not see a downside. I think gentrifica-
tion has brought a lot of jobs that didn’t
exist 30 years ago, and there is a lot
more that will be happening in the future.
I don’t buy the “two Brooklyns” idea.

How do you approach your civic endeavors?

When I started the brewery, I knew I
could not afford to advertise in New York DOSSIER
City. I decided we would invest in the TIME AS A JOURNALIST Hindy
community with our meager marketing covered the Lebanese civil war for
budget—donating to nonprofits, arts Newsday, among other assignments.
organizations and Transportation Alterna-
HIS TEAM He founded the brewery
tives—and by so doing we got our beer in with his downstairs neighbor, Tom
the hands of people. Now we have a much Potter, and later brought the Ottaway
bigger budget, but we have the same strategy. family, once newspaper owners, into
the business.
What’s next for the brewery and craft beer? THEY WROTE THE BOOK Hindy and
Independent craft brewers are 13% of volume Potter wrote Beer School, published by
and 25% of dollars. The big boys are getting in John Wiley, in 2005 as a memoir and
the industry through acquisition, and the battle is guide to entrepreneurship.
independent craft brewers versus those owned by SPREADING THE WORD Hindy
Anheuser-Busch InBev and others. I think we will win. describes himself as an ambassador
I think craft beer will be 30% in terms of volume. for the brewery and travels the world
to promote it and craft brewing. He
What’s the future of Brooklyn? spends summers in Brooklin, Maine,
spelled differently but pronounced the
It has a great future. It is only a matter of time before some
same way as the borough he helped
very large companies choose to locate there because the
make more famous.
human capital is there just waiting to be tapped. ■


P018_P020_CN_20180910.indd 20 9/6/18 2:36 PM


lair Townsend came to New York as Mayor
Ed Koch’s budget director to help rebuild the
government after the mid-1970s fiscal crisis. As
deputy mayor, she played a key role in stemming
corporate flight from the city and then became the publisher
who made Crain’s New York Business profitable.

What attracted you to public service?

It was right after John Kennedy had been assassinated. It was an
age when you thought government could do things. For example, I
started out at the old Health, Education and Welfare Department

in a job as low as you could do, researching juvenile delinquency.
It was clear from the numbers that there were two of everything In Washington
in the Southern states, and you could tell which ones were for
black kids. I was able to point that out for the first time. I learned a lot about
political courage
What did you learn in your time in Washington working on budget and
management jobs both at HEW and for congressional committees? or lack thereof
I learned a lot about political courage or lack thereof and about and about partisan
partisan politics. There was more political courage and less overt
lying than today. politics”
Why come to New York to work for Ed Koch?
Why not? To be budget director of New York
City—that was exciting. For weeks I would make
myself flash cards like my mother used to
make me learn multiplication. I had everything
to learn.

What shape was the city in?

It was a tough time. The worst recession
since the Great Depression was underway, and
President Ronald Reagan was rescinding funds,
some of which we had already spent. There
was so much to do. My mom got her Christmas
present in April.

You once said your job as deputy mayor for

economic development was to throw yourself in
front of the moving van of any company that was
thinking of leaving that could be persuaded to stay.
Companies were moving to all those buildings along the
Hudson River in New Jersey—back-office jobs for banks and
financial institutions that paid well. If we let them go, it would
have hollowed out the economy. In response, we constructed
incentive programs that applied to anyone who would move to
the boroughs or north of 96th Street. We had a fair amount DOSSIER
of success in keeping those companies in New York.
UPSTATER Townsend was born in
Rochester and grew up in Elmira.
Why go into publishing? What in your background was useful?
She graduated from Elmira College in
When I was deputy mayor, I thought I wanted to run a
1962 and earned her master’s degree
manufacturing company. I wanted to make a product, but in sociology from the University of
there weren’t many of those companies. Crain’s may not be Wisconsin.
a manufacturing operation, but it had a product. It wrote about
the area I was very much involved with. I thought this would be the boards of Lincoln Center, the New
thrilling and maybe I could bring some added value to it. York City Ballet, Gibney Dance Co.,
Citizens Budget Commission and the
And you started writing a column. Boy Scouts of NYC as well as the area
My husband at that time said, “You ought to write a column.” I advisory committee for M&T Bank.
thought, I don’t know how to write a column. My first day on the NEW YORK THEN AND NOW
job, Editor Greg David said, “We think you should write a column.’’ “There wasn’t a spare nickel to go
I like to write and I took pleasure in that column. around in the city budget in 1981.
Now the money seems to be rolling
If you were coming out of college today, would you go into public service? in, and the mayor is spending it. There
is a sense now that New York is set
Not in Washington. I would find the atmosphere so toxic. I might
forever—no need to worry about
go into state or local government, where you can see immediate
levels of taxation, infrastructure, mass

results. When I came to New York, I found that when we had transit. I think that’s nuts. We need to
more resources, when we gave the Sanitation Department more worry about all those things.”
money, you could see right away that the streets were cleaner. ■


P021_P022_CN_20180910.indd 21 9/6/18 2:23 PM



evin Ryan made the ad-tech company DoubleClick
the most important player in New York’s first tech
boom, in the 1990s. He has helped found Alley
Corp., Gilt, MongoDB and Zola, among other
companies that have changed the shape of the industry
in the city.

How did you get into tech?

I was a banker and then went to work for United Media. It started
an internet site in 1995. The site became very successful, and
I thought, This is the most fundamental trend in my lifetime, and
I want to be working at it full time. I could see that the response
on our website, even in 1995, was extraordinary.

You built DoubleClick into a powerhouse, navigated it through the

crash, then sold it. What were the most important things you learned?
DoubleClick was successful because the fundamental prod-
uct was just better. The better product generally does win. We
expanded from zero to 2,000 employees in four years and took
a lot of risks doing that. It paid off because we had the biggest
market share in the world.

You have founded a series of companies. How do you choose them?

I am always trying to think of opportunities, and to do that I am
thinking of problems other people don’t realize. It could be that
you can’t find a business news site that is timely and punchy
enough—that’s Business Insider. Or you can’t find merchandise

at 50% off from your desk—that’s Gilt. Or you can’t find the data-
base that could scale the way you need—that’s Mongo.
Tech here is part of
How does the current tech boom in New York differ from that of a big city, not the
Silicon Valley or elsewhere?
It is similar in the sense that tech is sweeping every dominant part, and
industry, and that’s happening in every country. What’s that’s very healthy”
happening in New York is that we have particular
strengths in media, fashion and ad technology, and we
leverage that. Also, we have a humbler culture in New
York because we are not No. 1. Tech here is part of a
big city, not the dominant part, and that’s very healthy.

What are the three most important requirements for

success as a tech company or CEO here?
The No. 1 thing is to attract and retain great
people. It’s like how you create a great basket-
ball team. It’s probably No. 2 and No. 3 too.
You also need to be able to raise money.

What do you look for in deciding to back DOSSIER

companies and entrepreneurs? TRIUMVIRATE With venture
I am looking for an idea and looking capitalist Fred Wilson and Oath CEO
for a person who can build a team and Tim Armstrong, Ryan is one of the
be a chief executive. Three Amigos who represent the tech
community in the city.
In five or 10 years, what will the tech sector CIVIC ROLE He is the only tech
look like in NYC? executive on the executive committee
We still won’t be quite as big as Sili- of the Partnership for New York
con Valley, but we will create other deep City and is director of the Trust for
segments of expertise like Mongo, which is Governors Island.
the kind of deep tech company we’ve never CHARITABLE ACTIVITIES He is
had in New York. We are also building ecosys- on the board of Yale University and is
tems in farming, biotech and the maker space. involved with Human Rights Watch and
international nonprofits.
Any regrets? FAVORITE COMPANY Business
One thing you have to get used to when you start Insider. “I am a press junkie who loves
companies is that many things go wrong: acquisitions, the product. I love that the product
changes every day, and I especially
hires, leases. The one thing I would have done differ-
love that it succeeded when no one
ently is be more aggressive—found more companies
thought it would, making success
and built faster than I did. The market has contin- especially sweet.”
ued to grow even faster than I imagined. ■


P021_P022_CN_20180910.indd 22 9/6/18 2:28 PM



Notice of Qualification of SONY IN- NOTICE OF FORMATION of 140 FUL- Notice of Formation of 8 THOMAS LLC NOTICE OF FORMATION OF LIMITED LIA-
Appl. for Auth. filed with Secy. of filed with the Secy of State of NY NY (SSNY) on 06/21/18. Office loca- LENTZ LLC. Articles of Organization
State of NY (SSNY) on 06/15/18. (SSNY) on 6/28/18. Off. Loc.: New tion: NY County. SSNY designated as were filed with the Secretary of State of
Office location: NY County. LLC York County. SSNY has been desig. as agent of LLC upon whom process New York (SSNY) on 04/30/2018. Of-
formed in California (CA) on 12/ agent upon whom process against it against it may be served. SSNY shall fice Location: 321 E 43rd St, Apt 608,
21/16. SSNY designated as agent may be served. The address to which mail process to the LLC, 70 Little West New York NY 10017. New York County.
of LLC upon whom process against the SSNY shall mail a copy to is: c/o St., Unit 12E, NY, NY 10280. Purpose: SSNY has been designated as agent of
it may be served. SSNY shall mail Hidrock Properties, 40 Wall Street, Real estate ownership. the LLC upon whom process against it
process to c/o Corporation Service 45th Floor, New York, NY 10005 Pur- may be served. SSNY shall mail a copy
Co., 80 State St., Albany, NY pose: Any lawful act . of process to the LLC 321 E 43rd St,
12207-2543. DE addr. of LLC: Notice of Formation of formalighting Apt 608, New York NY 10017. Pur-
2207 Bridgepoint Pkwy., San Mar- LLC Arts. of Org. filed with Secy. of pose: any lawful activity.
co, CA 94404. Cert. of Form. filed NOTICE OF QUALIFICATION of S3 CAPI- State of NY (SSNY) on 05/31/18. Of-
with Secy. of State, 1500 11th St., TAL III GP LLC. Authority filed with NY fice location: NY County. Princ. office
of LLC: 164 W. 25th St., 12th Fl., Man- Notice of Qualification of WASABI SU-
Sacramento, CA 95814. Purpose: Secy of State (SSNY) on 6/14/18. Of- SHI BENTO 1014 SIXTH AVENUE LLC
Any lawful activity. fice location: NY County. LLC formed in hattan, NY 10001. SSNY designated
as agent of LLC upon whom process Appl. for Auth. filed with Secy. of State
DE 6/11/18. SSNY designated agent of NY (SSNY) on 03/21/17. Office loca-
upon whom process may be served. against it may be served. SSNY shall
mail process to Corporation Service tion: NY County. LLC formed in Dela-
NOTICE OF FORMATION OF NextGen SSNY shall mail process to: c/o Spruce ware (DE) on 03/04/16. SSNY desig-
Capital Partners, 444 Madison Avenue, Co., 80 State St., Albany, NY 12207-
Strategic Advisors, LLC. Articles of Or- 2543. Purpose: General trading. nated as agent of LLC upon whom proc-
ganization filed with the Secretary of Floor 41, New York, NY 10022. DE ad- ess against it may be served. SSNY
State of NY (SSNY) on 2/21/2018. Of- dress of LLC: 160 Greentree Dr., Ste shall mail process to Pavia & Harcourt
fice location: NEW YORK County. SSNY 101, Dover, DE 19904. Cert of Form. LLP, 230 Park Ave., Ste. 2401, NY, NY
Notice of Formation of Rosie Filmwaze
has been designated as agent upon filed with DE SOS, 401 Federal St. Ste 10169. DE addr. of LLC: Corporation
LLC. Arts. of Org. filed with NY Dept. of
whom process against it may be 4, Dover, DE 19901. Purpose: any law- Service Co., 2711 Centerville Rd., Ste.
State on 4/12/18. Office location: New
served. The Post Office address to ful activity. 400, Wilmington, DE 19808. Cert. of
York County. NY Sec. of State designat-
which the SSNY shall mail a copy of ed agent of the LLC upon whom proc- Form. filed with Secy. of State, 401 Fed-
any process against the LLC served ess against it may be served, and shall eral St., Ste. 4, Dover, DE 19901. Pur-
Notice of Qualification of BRIZO GP,
upon him/her is: 333 East 43rd Street mail process to 426 W Broadway, #2G, pose: Any lawful activity.
LLC Appl. for Auth. filed with Secy. of
#814 NY, NY. The principal business New York, NY 10012. Purpose: any
State of NY (SSNY) on 06/01/18. Of-
address of the LLC is: 730 Lawrence lawful activity. SHEVA STREET, LLC. Arts. of Org. filed
fice location: NY County. LLC formed in
Ave, Westfield NJ 07090. Purpose: any with the SSNY on 01/21/05. Office:
Delaware (DE) on 05/29/18. SSNY
lawful act or activity New York County. SSNY designated as
designated as agent of LLC upon whom Notice of Qualification of BROOKFIELD
process against it may be served. RENEWABLE ENERGY MARKETING US agent of the LLC upon whom process
SSNY shall mail process to the LLC, LLC Appl. for Auth. filed with Secy. of against it may be served. SSNY shall
Notice of Formation of SAProp Associ- Attn: Benjamin Isaac, 142 W. 57th St., State of NY (SSNY) on 06/25/18. Of- mail copy of process to the LLC, c/o
ates, LLC Arts. of Org. filed with Secy. 11th Fl., NY, NY 10019. DE addr. of fice location: NY County. LLC formed in Jonathan Israel, 366 East 8th Street,
of State of NY (SSNY) on 06/15/18. Of- LLC: c/o Corporation Service Co., 251 Delaware (DE) on 04/14/08. SSNY No. 4, New York, NY 10009. Purpose:
fice location: NY County. SSNY desig- Little Falls Dr., Wilmington, DE 19808. designated as agent of LLC upon whom Any lawful purpose.
nated as agent of LLC upon whom proc- Cert. of Form. filed with Secy. of State process against it may be served.
ess against it may be served. SSNY of the State of DE, Div. of Corps., John SSNY shall mail process to c/o Corpo- NOTICE OF FORMATION OF OXD-1450
shall mail process to c/o Holland & G. Townsend Bldg., Federal and Duke ration Service Co. (CSC), 80 State St., BWAY LLC. Articles of Organization filed
Knight LLP, Attn: M. James Spitzer, Jr., of York Sts., Dover, DE 19901. Pur- Albany, NY 12207-2543. DE addr. of with the Secretary of State of NY
Esq., 31 W. 52nd St., NY, NY 10019. pose: Any lawful activity LLC: c/o CSC, 251 Little Falls Dr., Wil- (SSNY) on 7/18/2018. Office location:
Purpose: Any lawful activity. mington, DE 19808. Cert. of Form. filed NEW YORK County. SSNY has been
with Secy. of State, Div. of Corps., John designated as agent upon whom proc-
NOTICE OF FORMATION OF Samuel G. Townsend Bldg., 401 Federal St., ess against it may be served. The Post
Notice of Qualification of ALLYNIUM Borinsky, LCSW, Psychoanalyst, PLLC. Ste. 4, Dover, DE 19901. Purpose: Office address to which the SSNY shall
BRAND SOLUTIONS, LLC Appl. for Auth. Articles of Organization filed with Secre- Any lawful activity. mail a copy of any process against the
filed with Secy. of State of NY (SSNY) tary of State of NY (SSNY) on 06/ LLC served upon him/her is: 18 W
on 06/27/18. Office location: NY Coun- 11/2018. Office location: NEW YORK 23rd Street, Ground Floor,New York NY
ty. LLC formed in Ohio (OH) on 06/ County. SSNY has been designated as Application for Authority of EGM E&R
22/18. Princ. office of LLC: 118 Herit- agent upon whom process may be Heating & Cooling LLC filed with the
age Dr., Pataskala, OH 43062. SSNY served, and shall mail copy of process Secy. of State of NY (SSNY) on 8/
designated as agent of LLC upon whom against the PLLC to 34 W. 22nd St., 24/18. Formed in NJ 7/23/18. Of- Notice of Qualification of PAPER
process against it may be served. 2H, NY, NY 10010. The principal busi- fice Loc.: NY County. SSNY is desig- BOATS, LLC Appl. for Auth. filed with
SSNY shall mail process to c/o Corpo- ness address of PLLC is: 34 W. 22nd nated as agent of LLC upon whom Secy. of State of NY (SSNY) on 08/
ration Service Co., 80 State St., Alba- St., 2H, New York, NY 10010. Purpose: process against it may be served. 06/18. Office location: NY County. LLC
ny, NY 12207-2543. Cert. of Form. any lawful act or activity. The address SSNY shall mail copy of formed in Delaware (DE) on 08/02/18.
filed with Secy. of State of OH, 180 E. process to and the office address in SSNY designated as agent of LLC upon
Broad St., 11th Fl., Columbus, OH NJ is Michael Espinosa, 326 whom process against it may be
43215. Purpose: Any lawful activity Notice of Qualification of WASABI SU- Hackensack St., Carlstadt, NJ 07072. served. SSNY shall mail process to the
SHI BENTO FULTON STREET LLC Appl. Cert. of formation filed with Elizabeth LLC, 520 W. 28th St., Unit 1, NY, NY
for Auth. filed with Secy. of State of NY Maher Muoio, State Treas., 33 W. 10001. DE addr. of LLC: c/o Corpora-
(SSNY) on 11/30/17. Office location: State St., Trenton, NJ 08608. Pur- tion Service Co., 251 Little Falls Dr.,
NOTICE OF FORMATION OF 15 Hudson NY County. LLC formed in Delaware pose: Any lawful activity. Wilmington, DE 19808. Cert. of Form.
Yards 28D LLC. Articles of Organization (DE) on 09/05/14. SSNY designated filed with DE Secy. of State, John G.
filed with the Secretary of State of NY as agent of LLC upon whom process Townsend Bldg., 401 Federal St., Ste.
(SSNY) on 06/21/2018. Office loca- against it may be served. SSNY shall Notice of Formation of HOLY MACHINE #4, Dover, DE 19901. Purpose: Any
tion: NEW YORK County. SSNY has mail process to c/o Pavia & Harcourt LLC Arts. of Org. filed with Secy. of lawful activity.
been designated as agent upon whom LLP, 230 Park Ave., Ste. 2401, NY, NY State of NY (SSNY) on 08/07/18. Of-
process against it may be served. The 10169. DE addr. of LLC: Corporation fice location: NY County. SSNY desig-
Post Office address to which the SSNY nated as agent of LLC upon whom proc- Notice of Formation of MARQUAND &
Service Co., 251 Little Falls Dr., Wil-
shall mail a copy of any process ess against it may be served. SSNY APLEY, LLC. Arts of Org filed with Secy.
mington, DE 19808. Cert. of Form. filed
against the LLC served upon him/her is shall mail process to Corporation Serv- Of State of NY (SSNY) on 6/14/18. Of-
with Secy. of State, 401 Federal St.,
7014 13th Avenue, Suite 202 Brook- ice Co., 80 State St., Albany, NY fice location: NY County. SSNY desig-
Ste. 4, Dover, DE 19901. Purpose:
lyn, NY 11228 The principal business 12207. Purpose: Any lawful activity. nated agent upon whom process may
Any lawful activity.
address of the LLC is 15 Hudson be served and shall mail copy of proc-
Yards, Apt 28D NY,NY 10001. ess against LLC to: 300 E. 33rd St.,
NOTICE OF QUALIFICATION of Asentiv Apt. 3K, New York, NY 10011. Pur-
NOTICE OF FORMATION of Booth 3629 Manhattan, LLC. Authority filed with pose: any lawful act.
White Plains Holdings LLC. Art. of Org. Secy. of State of NY (SSNY) on 6/
NOTICE OF FORMATION OF DEEPER filed with the Secy of State of NY 1/18. Office loc: NY County. LLC
MAGIC STUDIOS LLC. Arts. Of Org. filed (SSNY) on 8/8/18. Off. Loc.: New formed in CA on 3/20/17. SSNY desig- NOTICE OF FORMATION of
with Secy of State of NY (SSNY) on 4/ York County. SSNY has been desig. as nated agent upon whom process may MODELCITIZEN, LLC. Arts. Of Org. filed
13/18 Office location: NY County. agent upon whom process against it be served and shall mail copy of proc- with Secy of State of NY (SSNY) on 5/
SSNY designated agent upon whom may be served. SSNY shall mail copy of ess against LLC to 25 Broadway, 9th 7/18. Office location: NY County. SSNY
process maybe served and shall mail process to: 111 8TH AVENUE NY, NY Fl, NY, NY 10004. Cert. of LLC filed designated agent upon whom process
copy of process against LLC to Jona- 10011. Reg. Agent: National Regis- with Secy. of State of CA loc: 3888 may be served and shall mail copy of
than Coleman, 408 W 57th St, Apt 6I tered Agents, Inc., 111 8th Ave, NY, NY Petaluma Hill Rd, Santa Rosa, CA process against LLC to 3813 13th Ave,
NY, NY 10019 Purpose: any lawful act. 10011.. Purpose: any lawful purpose. 95404. Purpose: Any lawful activity. 3rd FL, BK, NY 11218.


P023-24_CN_20180910.indd 23 9/6/18 12:41 PM



Notice of Formation of ELEMENT22 Notice of formation of 63 Greene Notice of formation of AMY Notice of Qualification of Macquarie
GROUP, LLC Arts. of Org. filed with Street 2B Holding LLC Arts. of Org. filed PERLMUTTER MD PLLC. Articles of Or- Core Solar HoldCo, LLC Appl. for Auth.
Secy. of State of NY (SSNY) on 07/ with the Sect’y of State of NY (SSNY) ganization filed with the Secretary of filed with Secy. of State of NY (SSNY)
19/18. Office location: NY County. on 10/17/2017. Office location, Coun- State of New York SSNY on 05/ on 08/21/18. Office location: NY Coun-
Princ. office of LLC: 33 Irving Pl., NY, ty of New York. SSNY has been desig- 15/2018. Office located in New York ty. LLC formed in Delaware (DE) on 06/
NY 10003. SSNY designated as agent nated as agent of the LLC upon whom County. SSNY has been designated for 28/18. SSNY designated as agent of
of LLC upon whom process against it process against it may be served. service of process. SSNY shall mail LLC upon whom process against it may
may be served. SSNY shall mail proc- SSNY shall mail process to: c/o Hay- copy of any process served against the be served. SSNY shall mail process to
ess to the LLC at the addr. of its princ. ward Richard Pressman, Esq., 19 East LLC 240 E 86TH ST, APT 11K, NEW c/o Corporation Service Co. (CSC), 80
office. Purpose: Any lawful activity. 88th St., Ste. 6F, NY, NY 10128. Pur- YORK, NY 10028. Purpose: any lawful State St., Albany, NY 12207-2543. DE
pose: any lawful act purpose. addr. of LLC: CSC, 251 Little Falls Dr.,
Notice of Qualification of 1360 Wilmington, DE 19808. Cert. of Form.
SCHERMERHORN, LLC Appl. for Auth. NOTICE OF FORMATION of QUANTUM filed with DE Secy. of State, Div. of
filed with Secy. of State of NY (SSNY) Notice of Qualification of TerraForm Corp., John G. Townsend Bldg., 401
on 07/17/18. Office location: NY Coun- Power, LLC Appl. for Auth. filed with Federal St., Ste. 4, Dover, DE 19901.
filed with Secy. of State of NY (SSNY)
ty. LLC formed in Delaware (DE) on 06/ Secy. of State of NY (SSNY) on 07/ Purpose: Any lawful activity.
on 06/01/18. LLC formed in New York
25/18. SSNY designated as agent of 12/18. Office location: NY County. LLC
(NY) on 06/13/18. Office Location:
LLC upon whom process against it may formed in Delaware (DE) on 02/14/14.
New York County. SSNY has been des-
be served. SSNY shall mail process to Princ. office of LLC: 200 Liberty St., Notice of Qualification of ParkSlope
ignated as agent of the LLC upon whom
c/o Corporation Service Co., 80 State 14th Fl., NY, NY 10281. NYS fictitious Capital LLC Appl. for Auth. filed with
process against it may be served.
St., Albany, NY 12207-2543. DE addr. name: Terraform Power of New York, Secy. of State of NY (SSNY) on 08/
SSNY shall mail a copy of process to
of LLC: 251 Little Falls Dr., Wilmington, LLC. SSNY designated as agent of LLC 21/18. Office location: NY County. LLC
the LLC, 305 2nd Ave, Ste. 306, NY NY
DE 19808. Cert. of Form. filed with upon whom process against it may be formed in Delaware (DE) on 08/20/18.
10003. Purpose: any lawful activity.
Secy. of State, 401 Federal St., Ste. 4, served. SSNY shall mail process to c/o SSNY designated as agent of LLC upon
Dover, DE 19901. Purpose: Any lawful Corporation Service Co. (CSC), 80 whom process against it may be
State St., Albany, NY 12207-2543. DE Notice of Qualification of ACG CON- served. SSNY shall mail process to c/o
addr. of LLC: c/o CSC, 251 Little Falls Corporation Service Co. (CSC), 80
Dr., Wilmington, DE 19808. Cert. of for Auth. filed with Secy. of State of State St., Albany, NY 12207-2543. DE
NOTICE OF FORMATION OF RUE SAINT Form. filed with Secy. of State of DE, NY (SSNY) on 06/27/18. Office loca-
PAUL LLC. Arts. Of Org. filed with Secy addr. of LLC: c/o CSC, 251 Little Falls
401 Federal St., Dover, DE 19901. Pur- tion: NY County. LLC formed in Dela- Dr., Wilmington, DE 19808. Cert. of
of State of NY (SSNY) on 6/19/18. Of- pose: Any lawful activity. ware (DE) on 06/07/13. Princ. office
fice location: NY County. SSNY desig- Form. filed with DE Secy. of State, John
of LLC: 450 Park Ave., 4th Fl., NY, NY G. Townsend Bldg., 401 Federal St.,
nated agent upon whom process may 10022. SSNY designated as agent of
be served and shall mail copy of proc- Ste. #4, Dover, DE 19901. Purpose:
NOTICE OF QUALIFICATION Zenith Mar- LLC upon whom process against it Any lawful activity.
ess against LLC to 1967 Wehrle Drive, keting Group, LLC. Fic. Name: Zenith may be served. SSNY shall mail proc-
Suite 1 #086, Buffalo, NY 14221. Pur- Insurance Agency. Application for Au- ess to the LLC at the princ. office of
pose: any lawful act. thority filed with the Secretary of State the LLC. DE addr. of LLC: c/o Corpora- Notice of Formation of ACREAGE NEW
of New York (SSNY) on 7/6/2018. Of- tion Service Co., 251 Little Falls Dr., YORK, LLC Arts. of Org. filed with Secy.
Notice of Qualification of GELLER fice Location: New York County. LLC Wilmington, DE 19808. Cert. of Form. of State of NY (SSNY) on 06/29/18. Of-
MULTI-VINTAGE III, LLC Appl. for Auth. formed in Indiana on March 26, 2018. filed with Secy. of State, John G. Town- fice location: NY County. SSNY desig-
filed with Secy. of State of NY (SSNY) SSNY has been designated as an send Bldg., 401 Federal St. - Ste. 4, nated as agent of LLC upon whom proc-
on 06/08/18. Office location: NY Coun- agent upon whom process against it Dover, DE 19901. Purpose: Any law- ess against it may be served. SSNY
ty. LLC formed in Delaware (DE) on 06/ may be served. The Post office ad- ful activity. shall mail process to the LLC, 366 Mad-
05/18. Princ. office of LLC: 909 Third dress to which the SSNY shall mail a ison Ave., 11th Fl., NY, NY 10017. Pur-
Ave., NY, NY 10022. SSNY designated copy of any process against the LLC pose: Any lawful activity.
as agent of LLC upon whom process served upon him/her is: CT Corpora- NOTICE OF FORMATION of limited liabili-
against it may be served. SSNY shall tion, 111 Eighth Avenue, New York, ty company (LLC). Name: GABRIELLE
mail process to the LLC, Attn: Edward NY 10011. The principal business ad- HURWITZ BRIDAL STYLING, LLC. Arti- NOTICE OF FORMATION of 85 Quay
Hornstein at the princ. office of the dress of the LLC is: 303 W Main Str, cles of Organization filed with Secretary Street Holder, LLC. Art. of Org. filed
LLC. DE addr. of LLC: c/o Corporation Ste 200, Freehold, NJ 07728. Indiana of State of New York (SSNY) on 05/ with the Secy of State of NY (SSNY) on
Service Co., 251 Little Falls Dr., Wil- address of LLC is: 888 S Harrison 18/2018. Office location: New York 7/11/18. Off. Loc.: New York County.
mington, DE 19808. Cert. of Form. filed Str, Ste 900, Fort Wayne, IN 46802. County. SSNY designated as agent of SSNY has been desig. as agent upon
with Secy. of State of the State of DE, Certificate of LLC filed with Secretary LLC upon whom process against it may whom process against it may be
Div. of Corps., John G. Townsend Bldg., of State of Indiana located at 200 W be served. SSNY shall mail copy of served. The address to which the SSNY
Federal and Duke of York Sts., Dover, Washington Street, Ste 201, Indianap- process to: GABRIELLE HURWITZ, 242 shall mail a copy to is: The LLC, 256
DE 19901. Purpose: Any lawful activi- olis, IN 46204. Purpose: any lawful E 26TH STREET APT 2, NEW YORK, NY West 116th Street, New York, NY
ty. act or activity. 10010. Purpose: any lawful purpose. 10026 Purpose: Any lawful act.






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P023-24_CN_20180910.indd 24 9/6/18 3:30 PM

Advertising Section

To place your listing, visit

or for more information
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Katz, Sapper & Miller, LLP Lincoln Center for the Windels Marx Lane & Denham Wolf
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Sapper & Miller’s Audit the Performing focuses her practice planning and project
and Assurance Services Arts announced on commercial real management, Kate
Group, working out the appointment of estate and finance, Van Tassel joins
of the firm’s New York Lauren Ezrol Klein drawing on her wide- Denham Wolf as
office. Deloris helps ensure the as Executive Vice ranging knowledge Director of Development Services.
accuracy and completeness of President, General Counsel and of virtually all aspects of real She will lead a collaborative
businesses’ financial reporting. Corporate Secretary. Klein will estate transactions. She regularly practice group in the assessment,
She focuses on audits of private serve as the chief legal officer for advises on private financings, structuring, and negotiation of
funds affiliated with SEC- the world’s leading performing purchase and sales agreements, development opportunities for
registered investment advisors. arts center, providing legal joint ventures, loan sales, New York City nonprofits. Van
advice and counsel on a broad workouts, construction contracts Tassel previously served as a Vice
range of matters and general corporate matters, President of the NYC Economic
and works on a variety of leases Development Corporation,
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Angela also has experience in engineers and real estate
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P025_CN_20180910.indd 25 9/5/18 12:21 PM


NEW IN TOWN a gymnastics studio, in food eatery opened a sec- REAL ESTATE Holdings, was represented square foot. Sprayregen Real
Chinatown. ond location, in Midtown. by an in-house team. The Estate Advisors brokered
■ Dyphor RETAIL asking rent was $250 per for the tenant. Tishman
146 Wythe Ave., ■ Randall’s Barbeque ■ Fête New York agreed square foot. Speyer handled the deal for
Brooklyn 359 Grand St. STOCK TRANSACTIONS to take 12,063 square feet the owners, itself and the
Interior designer Francesca A former Dinosaur Bar-B- at 231 W. 39th St. for 16 ■ Champion plans to open Irvine Co.
Messina curates the selec- Que pit master is behind ■ Estée Lauder Cos. years. The food hall is slated a 7,121-square-foot store at
tion of Asian and African this Lower East Side spot. (EL-N) to open in the spring. Max- 434 Broadway, a space that ■ Rosenberg & Estis
home decor sold at this Board member Jane Lauder welle New York represented was last occupied by Muji. renewed its 35,000-square-
store, in Williamsburg. sold 36,334 shares of the tenant. Adams & Co. Cushman & Wakefield rep- foot lease and tacked on
MOVES AND EXPANSIONS common stock at prices brokered for the landlord, resented the owner, Savanna 16,000 square feet for the
■ Fancy ranging from $132.79 to the Contemporary Fashion Investment Management, next 10 years at 733 Third
57 Bond St. ■ Butler Bakeshop $133.49 per share Aug. 23. Center. The asking rent was and the tenant. The asking Ave. The law firm plans to
The online marketplace, 40 Water St., Brooklyn The transaction was worth $125 per square foot. rent for the deal was not take over the entire 15th
backed in part by Twitter The Williamsburg bakery $4,840,947. She now holds disclosed. floor and will continue
CEO Jack Dorsey, opened its expanded to Dumbo. 3,703 shares. ■ Nili Lotan signed a deal to occupy the 12th and
first storefront, in SoHo. for 7,668 square feet at COMMERCIAL 14th floors. The building’s
■ Jack’s Stir Brew Coffee ■ Yext Inc. (YEXT-N) 142 Duane St. The Israeli ■ Siguler Guff signed for asking rent ranges from
■ G Mart 1335 Lexington Ave. CFO Steven Cakebread designer plans to open a 44,000 square feet at 200 $50 to $100 per square foot.
5703 Roosevelt Ave., The café, which features sold 20,000 shares of showroom and office at Park Ave. for 11 years. The The landlord, the Durst
Queens vegan baked goods, debuted common stock at around the base of the residen- private-equity firm plans to Organization, was repre-
Woodside’s latest grocery its ninth location, on the $25 per share Aug. 22 and tial co-op. Cushman & move from 825 Third Ave. sented in-house. The tenant
store stocks Chinese brands. Upper East Side. 23 in transactions worth Wakefield brokered for the Asking rents in the building represented itself in the
$496,440. He now holds no designer. The landlord, 101 range from $92 to $112 per transaction. – YOONA HA
■ Kotn ■ The Kati Roll Co. shares.
112 Mercer St. 22 Maiden Lane

The Toronto-based retailer The fast-casual chain ■ Regeneron Pharmaceu- GET YOUR NEWS ON THE RECORD
of Egyptian-cotton apparel serving Indian flatbread ticals Inc. (REGN-O) To submit company openings, moves or real estate deals, or to receive further
has a U.S. flagship, in SoHo. opened its sixth spot, in the Board member Michael information, email
Financial District. Brown sold 1,500 shares of For the Record is a listing to help businesspeople in New York find opportunities,
■ Paul Ruggeri common stock for $380.49 potential new clients and updates on customers. Bankruptcy filings from the eastern and
356 Broadway ■ Viên per share in a transaction southern districts of New York are listed alphabetically. Stock transactions are insider
transactions at New York companies obtained from Thomson Reuters and listed by size.
The American Ninja 555 Fifth Ave. worth $570,735 Aug. 22. He Real estate listings are in order of square footage.
Warrior competitor opened The Southeast Asian street- now holds 11,074 shares.

Nominations are now open!


P026_CN_20180910.indd 26 9/7/18 3:44 PM


MADONIA’S family
BY LANCE PIERCE has been baking
bread since 1918.

Baking bread just like his grandfather did

Former Bloomberg chief of staff leaves his desk job to run the family bake shop

eter Madonia has gone from mover and shaker according to a 2017 study by the local business improve-
to neighborhood baker. ment district, which Madonia has chaired since 2016. PETER MADONIA
After serving as Mayor Michael Bloomberg’s Great Italian classics such as pane di casa and cannoli
chief of staff, Madonia became chief operating are a big reason the business survives. Another is that BORN Pelham Parkway, Bronx
officer at the Rockefeller Foundation, where he tackled Madonia’s father bought the building for about $35,000 in RESIDES Westchester County
such massive projects as helping cities plan for recovery the mid-1970s. He sold it to his three children for about EDUCATION Bachelor’s in
from natural and man-made disasters. But $200,000 in the ’80s. The property is clearly anthropology, Fordham University;
in January he left to help run the bakery his
grandfather started 100 years ago this month.
“ I was born worth much more now, even though it is in
the nation’s poorest congressional district.
master’s in urban studies, University
of Chicago
Swapping the worlds of City Hall and big- and raised The subway isn’t close, which means gen- OLDIES BUT GOODIES Madonia
time philanthropy for a Bronx bakery—even nearby; this trification and large-scale redevelopment says his business partner, Charlie
one that sells outstanding olive bread—is an
unusual career move. But Madonia said he
is personal ” have so far missed Arthur Avenue, even
though the nearby Fordham Road commer-
LaLima, is responsible for adding
such specialties as white-chocolate
cherry bread and a cheesy jalapeño
couldn’t be happier. cial corridor was rezoned five years ago. loaf to the menu. But the best-
“I was born and raised near the bakery,” he said. “This Madonia says that to get more foot traffic, Arthur Ave- sellers are the standbys: semolina
is very personal to me.” nue needs more parking for the suburban families who bread, cannoli and cookies.
It’s actually his second stint running Madonia Brothers want to eat or shop at the places their parents and grand- CAN’T FIGHT CITY HALL
Madonia served on Mayor Bill de
Bakery. The first began 30 years ago, after his brother, who parents once enjoyed. He would like to see the BID buy a
Blasio’s transition team and has
owned it, died in a car accident. Madonia left the Koch warehouse and turn it into in a garage, but he recognizes periodically advised him. In 2015
administration, where he’d been deputy commissioner for the quest for parking is out of step with the rest of the city, he emailed de Blasio urging him to
buildings and the Fire Department, and bought the bak- where the prevailing winds blow toward ride-sharing and get rid of the pedestrian plaza in
ery. In the mid-1990s he sold a 50% stake to a partner, bike lanes. Still, Madonia is pounding the pavement. Times Square: “No real New York-
ers use it, and they hate walking
who broadened the lineup of breads and pastries and han- “I’ve been in touch with Polly,” he said, referring to

through it.” The mayor agreed, but

dles most of the day-to-day operations. Today the bakery Transportation Commissioner Polly Trottenberg. “The the plaza remains.
is the most popular of the many dotting Arthur Avenue, city understands what we want.” — AARON ELSTEIN


P027_CN_20180910.indd 27 9/6/18 4:20 PM

Welcome back!
Catch our next wave of high-end, innovative pre-builts this fall.

Barry Zeller Haley Fisher Jonathan Fales Michael Tranfalia Pierce Hance
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CN018803.indd 1 9/7/18 12:58 PM