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VOL. XXXI, NO. 45 WWW.CRAINSNEWYORK.COM

NEW YORK BUSINESS

As New York’sconstruction industrybooms, work-siteaccidents soar

THE LISTNew York’s largest techemployers P. 16

PLUS

CRAINS

®

NEW

SPAP

ER

Why does Albanyproduce somany crookedpols? InstantExpert explains P. 8

FALLEN WORKER:Tommy Intzeyiannis

plunged 60 feet down

an elevator shaft.

20151109-NEWS--0001-NAT-CCI-CN_-- 11/6/2015 7:05 PM

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I was proofreading the final pages of our inaugural list of

the area’s largest technology companies when I noticed

we didn’t have a New York phone number for Facebook.

So there I was late last Thursday, our deadline approach-

ing, searching for a number with a 212 area code. I never

found one. I did find the company’s phone number for its

headquarters in Menlo Park, Calif., and decided to include

it on our list because it felt better than just writing, “Don’t

bother.” But take it from me: Don’t

bother. Calling will only get you a recording that gives out

various email addresses that you could find online. The

[email protected] email I used generated a quick response to

my request for a New York number: A spokeswoman

wrote that I’m better off using email if I want to get a

response from a real person.

I knew the details for our first tech employers’ list

were going to be difficult to ascertain, but I didn’t think

phone numbers would be among them. Simply deciding

which companies qualified as technology firms took some thinking. For years,

economists have struggled to define the parameters of the high-tech sector. A

definition, like the industry itself, is constantly evolving. To be safe, we inten-

tionally cast a narrow net, which we’ve explained in our footnotes on Page 18.

We could have ranked the list by revenue, but we decided to do so by the

number of local employees. Private companies are loath to disclose how much

money they rake in, yet I was surprised that so many private and public firms did

not want to tell us how many of their employees work here. Perhaps some were

embarrassed that they employed so few. Uber, for example, is worth $50 billion.

It has something like 20,000 drivers in New York, but in terms of actual employ-

ees, it plans to have 150 by the end of the year—hardly enough to make our list.

You’ll notice that the biggest companies are the old-line tech firms, the ones

using old-fashioned labor to build the infrastructure that our high-tech econo-

my runs on. Some of these old companies were easier to get information from

than others. All of them at least had a phone number.

Like the industry itself, our first list of largest tech employers is a work in

progress, ready to evolve as the industry does. We’ll include new sectors (music

streaming, e-commerce) as logic dictates. What I don’t plan to do is drop the

phone numbers from our list. Yes, we could live without them, but amid all the

change out there, there’s something reassuring about having a number to call—

even if it only gets you an email address.

NOVEMBER 9-15, 2015

FROM THE NEWSROOM | JEREMY SMERD

Playing telephone

Call Facebook?

Don’t bother.

All you’ll get is a

recording telling

you to send

an email

DIGITAL DISPATCHES

READ Home-services startup Handy

raised $50 million last week, bringing its

total investment to $110 million. The

Manhattan firm will use the cash to expand

and to defend itself against two lawsuits

over its use of independent contractors.

■ Lowe’s will pay New York state and

customers $1 million for

overcharging on flooring

installation as part of a

settlement of a state probe into

the retail chain’s sales practices.

LISTEN to a discussion of Joe

Anuta’s cover story on deaths

and accidents at construction

sites, plus medical marijuana and

Albany’s seemingly endless stream of

political corruption. Music by Spells and

Curses. CrainsNewYork.com/podcast

Go to CrainsNewYork.com

4 AGENDA

6 IN CASE YOU MISSED IT

8 INSTANT EXPERT

9 LAW

10 ASKED & ANSWERED

12 REAL ESTATE

14 VIEWPOINTS

16 THE LIST

FEATURES

19 EDUCATION

21 COVER STORY

30 GOTHAM GIGS

31 EXECUTIVE MOVES

32 SNAPS

33 FOR THE RECORD

34 PHOTO FINISH

IN THIS ISSUE

Google canceled

plans for a retail

store, but may

be working on

something bigger.

Vol. XXXI, No. 45, November 9, 2015—Crain’s New York Business (ISSN 8756-789X) is published weekly, except for double issues

the weeks of June 29, July 13, July 27, Aug. 10, Aug. 24 and Dec. 21, by Crain Communications Inc., 685 Third Ave., New York, NY

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CONFERENCE CALLOUT NOVEMBER 17CRAIN’S HEALTH CARE

SUMMIT: TRANSFORMINGPATIENTS INTO SATISFIED

CUSTOMERS

P.19 FEATURES

CRAINS

DDaannnnyy MMeeyyeerr will be the keynote

speaker, joined by Susan Reilly

Salgado, managing partner of

Hospitality Quotient, the consulting

arm of Meyer’s Union Square

Hospitality Group. The CEOs of North

Shore-LIJ, the Health and Hospitals

Corp. and the Hospital for Special

Surgery will share their views on

transforming the patient experience.

Danny Meyer,

chief executive of

Union Square

Hospitality Group

PHOTO: BUCK ENNIS

ON THE COVER

GO

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IS

NOVEMBER 9, 2015 | CRAIN’S NEW YORK BUSINESS | 3

>

20151109-NEWS--0003-NAT-CCI-CN_-- 11/6/2015 6:58 PM Page 1

Industrial businesses should findcity’s zoning plan worth the wait

Industrial jobs tend to pay well and not require college degrees,

making them ideal for the many New Yorkers who have a

strong work ethic but lack the education or English skills need-

ed for most white-collar positions.

Importantly, industrial businesses typically don’t require subsidies

or “living-wage” mandates to compensate their employees well.

They are valuable contributors to the city’s economy and social fabric

on their own, thank you very much.

But one thing they do need help with is space. These businesses are

perfectly happy to compete with each other, but in a fight for real

estate with apartment and hotel developers, they are toast.

That is where zoning comes in. Zoning determines what can go

where. But it can be changed and circumvented, which has put man-

ufacturers under increasing pressure in their longtime enclaves as

property owners seek the higher rents and sale prices that residential

or other uses provide.

Thus, what these businesses—

which employ 530,000—need most

from Mayor Bill de Blasio is unam-

biguous protection of their zoning.

After a frustrating 22 months, such a

promise finally arrived last week.

That it came a year and a half after

the mayor’s housing plan says a lot about his priorities, but the poli-

cymaking, while tedious, was solid. City agencies worked with the

authors of the City Council’s own industrial-policy blueprint

(released last year) and manufacturers’ advocates to produce a com-

prehensive proposal supported by the key stakeholders.

The big pluses are that hotels would require a special permit from

the administration and council to be built in the city’s 20 core indus-

trial areas, and private residential projects won’t even be considered

there. Self-storage businesses—which use a lot of space, pay low wages

and employ few people—will be limited in these areas.

Meanwhile, based on the results of a study underway in north

Brooklyn, the city will develop zoning to

accommodate the so-called innovation

economy—smaller, modern, tech-ori-

ented businesses with different needs

from the heavy industry of yesteryear.

Hundreds of thousands of manufac-

turing jobs have left New York City or

been lost to automation since the last such policy overhaul in 1961.

The sector will never be what it was. But it has stabilized and evolved,

and remains a good fit for many of New York’s neighborhoods, talent

pools and entrepreneurial spirit. Industry still has a place in the city

and should retain the space it needs to thrive. We are optimistic that

the new plan will be found up to the task as it moves through the pub-

lic-review process. –– THE EDITORS

FINE PRINT Heading into this month, JPMorgan Chase & Co. reckoned its venture-capital investment in hot Silicon Valley startup Square was worth $2.5 billion. Well, maybe not. Square, which is trying to go public, last week dis-closed that JPMorgan’s stake may be worth only $1.8 billion because potential IPO investors value the company less than VCs have. It’s a sign that the inflated values of tech companies are coming back to earth.

Cut taxes!— The entirety of a statement issuedby Reclaim New York Center forGovernment Reform and Account-ability, a nonprofit advocacy organiza-tion, in response to news that thestate expects to finish its fiscal yearwith a $1 billion surplus, mostly fromsettlements with financial institutionstotaling $650 million. Separately, anoperating surplus of $350 million wascredited in part to six unexpectedlylarge estate-tax payments.

25 WORDS OR LESS

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4 | CRAIN’S NEW YORK BUSINESS | NOVEMBER 9, 2015

Manufacturers are perfectly happy to

compete with each other, but in a

fight for real estate with residential

and hotel developers, they are toast

ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY

BY GERALD SCHIFMAN ST

AT

SA

ND

TH

E C

ITY

HEROIN HUBA RISE IN PRESCRIBED PAINKILLERS has givenway to a national heroin epidemic. New YorkCity is getting hit hard — especially in areasdensely poplulated by whites.

AGENDAWHAT’S NEW NOVEMBER 9, 2015

Number of physicians citywide who

were found in a 2013 study to have

overprescribed painkillers

Portion of recent U.S. heroin addicts

who were first introduced to opioids

through prescription drugs

Four-year decline in new NYC buprenorphine

patients, suggesting that fewer city residents are

getting treatment for opioid addictions

JOB CREATOR:Workers at Casa

Kids, a custom

furniture-maker

in Red Hook,

Brooklyn.

Staten Island’s rate of opioid

overdose deaths per 100K people,

compared with 3.3 for NYC overall

SOURCES The New York CommunityTrust, U.S. Department of Health and

Human Services, JAMA Psychiatry,Mayor’s Management Report

32

11.2

75%

-28.9%


Comments: PDFx1a with bleed. Include marks, slug.Inks: Cyan, Magenta, Yellow, BlackFonts: Neue Haas Grotesk Display Std, Helvetica Neue LT StdImages: Verizon_cmyk_p.ai, RM_AlcatelLucent_collaboration_CMYK.ai

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Project Title: New York Crains

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Art Director None

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Acct. Exec. None

125 E. Broad St. Greenville, SC 29601 P: 864.271.0500 | F: 864.235.5941

622 Third Ave, New York, NY 10017P: 212.905.7000 | F: 212.370.0781

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Doc fingers Silver as trial beginsDr. Robert Taub testified that hereferred asbestos cases to SheldonSilver and his law firm in exchangefor $500,000 in state funds as thetrial of the former Assembly speak-er got underway last week.

Jet.com joins the unicornsAmazon rival Jet.com scored fund-ing that values the startup at $1.5billion. The year-old online shop-ping site is close to raising $500million to $550 million in a roundled by Fidelity Investments.

WTC progress, setbackOne World Trade Center celebratedits first birthday last week with theannouncement that mobile-advertising tenant xAd had takenmore space in the building. Butproblems persist. Westfield’s luxurymall at the lower Manhattan sitewill not open early next year asanticipated because of a water leakfrom construction at adjacent 3WTC. Meanwhile, SilversteinProperties is using a popular visaprogram known as EB-5 to raise$500 million from Chinese investorsso it can start erecting 2 WTC.

Legalizing pot soonerGov. Andrew Cuomo has untilNov. 11 to sign a bill that will expe-dite access to medical marijuana,which will become legal inJanuary, for patients with terminalillnesses.

Penalty on sanction violationsDeutsche Bank agreed to pay $258million to settle investigations bystate and federal banking regulatorson its dealings with countries suchas Iran and Syria that violate U.S.sanction laws. It is the latest deal ina string of similar cases involvinglarge European-based banks thatuse their New York operations to dobusiness with blacklisted countries.

NY probes oil companiesThe state attorney general is investi-gating ExxonMobil and PeabodyEnergy for allegedly deceivinginvestors by hiding research resultson the causes and effects of climatechange. The probe may lead toinquiries into other oil companies.

Viceland to air To capture more advertising dollars,Brooklyn-based Vice Media islaunching a cable channel in part-nership with A+E Networks.

Viceland will focus on gay culture,marijuana and music.

Trump book launchCrippled America, a campaign mani-festo, offers little insight into thepresidential hopeful’s policy goals.

– AMANDA FUNG

To fix Brooklyn health care,

officials tap Cuomo insider

NEW YORK STATE HAS TRIED FOR YEARS to address the

sick state of Brooklyn’s health care delivery

system. Symptoms include hospitals that hem-

orrhage money, disintegrating facilities and a popula-

tion in poor health. East New York, for example, has

the highest diabetes rate, 18%, in the city.

The latest plan to fix health care in Brooklyn was to

tap an insider to Gov. Andrew Cuomo: James Introne

(pictured), a former state deputy secretary of health

who retired in June 2013. The state Department of Health

hired Introne to help manage “the transformation of

the health care system in central and eastern

Brooklyn,” said an agency spokesman, adding that

Introne will cajole hospitals to undertake “strategies

that can assure the availability of sustainable, high-quality health services in Brooklyn.”

That means hospitals must form networks or merge. Last week, Jason Helgerson, the state’s Medicaid

director, said consolidation makes sense for a hospital like Brookdale Hospital Medical Center, which gets a

$100 million annual state subsidy. Heavily reliant on Medicaid, Brookdale is one place where the free

market “doesn’t work very well,” said Helgerson.

Market intervention will be courtesy of Introne. By consolidating, Brooklyn hospitals will be in a

better position to use $500 million set aside in the state budget to build a new facility to replace the

campuses of three competing institutions—but that’s still only half the construction cost.

AGENDA ICYMI

– BARBARA BENSON

DATA POINTEAST SIDE ACCESS, A COMMUTER-

RAIL TUNNEL 14 STORIES BELOW

GRAND CENTRAL TERMINAL THAT

WILL CONNECT THE TRANSIT HUB

TO THE LONG ISLAND RAIL ROAD,

IS COSTING $1 MILLION PER FOOT

TO CONSTRUCT. ITS DEBUT IS

SCHEDULED FOR 2022.

A Flintstones-like museum additionThe American Museum of Natural

History revealed designs by

architect Jeanne Gang for its $325

million Richard Gilder Center for

Science, Education and Innovation

at West 79th Street. The plan

“consumes less park space than

expected, while introducing an

aesthetic that evokes Frank

Gehry’s museum in Bilbao, Spain,”

The New York Times wrote. The

design is subject to City Council

approval as well as a Landmarks

Preservation Commission review.

BU

CK

EN

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GA

NG


CRAINSEDITOR IN CHIEF Rance Crain

publisher, vp Jill R. Kaplan

assistant to the publisher

Alexis Sinclair, 212.210.0701

EDITORIAL

editor Jeremy Smerd

assistant managing editors Barbara Benson,Erik Engquist

web editor Amanda Fung

copy desk chief Steve Noveck

art director Carolyn McClain

photographer Buck Ennis

senior reporters Joe Anuta, Aaron Elstein,

Matthew Flamm, Daniel Geiger

reporters Jonathan LaMantia, Caroline Lewis

data reporter Gerald Schifman

web producer Peter D’Amato

columnist Greg David

contributing editors Tom Acitelli, Theresa Agovino, Paul Bennett, Erik Ipsen, Judith Messina, Cara S. Trager

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x1a

Corruption only

seems worse

now because

prosecutors are

more inclined

to prove that

‘politics as

usual’ is illegal

Ethics have long been aproblem in Albany, and cor-ruption was likely just as

bad if not worse years ago—wejust didn’t know it. Past scandals

prompted incremental reforms that

were each criticized as insufficient but

collectively have increased trans-

parency and sharpened prosecu-tors’ tools. Spitzer, a year beforehis dalliance with a high-pricedprostitute came to light, passed ameasure in 2007, as did Cuomoin 2011, dismantling a self-policingapparatus that kept legislators’wrongdoing under wraps. Oneresult of new transparency lawswas that Silver, an attorney whowas not known to be practicing law,had to disclose millions of dollarsin income. Another reform promises to curb lawmakers’ingrained practice of getting reimbursed for expenses theynever incurred.

Thirty New York statelegislators have leftoffice since January

2003 because of criminal orethical problems, including11 in the past two years.The lengthy list, whichprompted good-governmentgroup Citizens Union to posta “Corruption Tracker”online, could soon grow.Assemblyman SheldonSilver (pictured) went on triallast week, and state Sen.Dean Skelos will soon followhim. Their cases heightened awareness of Albany corruptionbecause the two men led their legislative chambers for years.They and the governor were the “three men in a room” who ranstate government. Analyses have found that roughly one in 10 state

legislators at any given time has some kind of ethical stain, and tworecent statewide officials—Gov. Eliot Spitzer and ComptrollerAlan Hevesi—were undone by scandal.

THE ISSUE

Conventional wisdom holds that Albany corrup-tion stems from legislators making behind-the-scenes decisions worth millions of dollars to

businesses while earning base salaries of just$79,500 themselves, and being allowed to hold sec-ond jobs that can be used to mask ill-gotten gains.But while most of their crimes were financially motivated,

they have run the gamut from marriage fraud to assaultto sexual harassment. Some experts believe corrup-tion only seems worse in New York because prosecu-tors have become better at unearthing it and provingthat “politics as usual” is illegal. That’s hard: It’s nota crime for elected officials to do favors for their cam-paign donors, as long as it’s not a quid pro quo.

BY ERIK ENGQUIST

Some say the story of Albany is not what’sillegal but what’s legal: Legislators can receive

outside income and campaign contributions from

people and businesses affected by their actions in office.

But a package of proposed remedies includingrobust public financing of campaigns, highersalaries for legislators and a ban on second jobswon’t pass with Republicans running the Senatethrough at least 2016. But the prosecutions andpolitical demise of Silver, Skelos and several oftheir colleagues; Bharara’s pursuit of leads gener-ated by Cuomo’s defunct commission; and crucialSenate elections next year should curb lawmakers’bad behavior. Then it will resume. It always does.

1

4

3

5

AGENDA INSTANT EXPERT STATE GOVERNMENT

THE PLAYERS

YEAH, BUT...

WHAT’S NEXT

SOME BACKSTORY

Why is Albany a cesspool of corruption? [in 5 steps]

BU

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Preet Bharara, the U.S. attorney for the Southern District, hasmade Albany malfeasance a priority, launching numerous investi-gations and winning nine convictions. His Brooklyn-based counter-

part, Loretta Lynch, claimed political scalps as well before becomingU.S. attorney general. Other authorities, including Albany CountyDistrict Attorney David Soares, state Attorney General EricSchneiderman and the Joint Commission on Public Ethics, also have

public-integrity units, but havenot made names for them-selves the way Bharara has.Gov. Andrew Cuomo (left) initially

tried to restore the legislature’s

reputation, then formed a com-mission to clean up Albany inresponse to a spate of trans-gressions. But he disbanded itwhen lawmakers passed anethics bill in 2014.

2



A joint opera-tion betweenthe U.S. andBritain later

this month to carry outa simulated cyberattackon Wall Street andLondon will test theresiliency of the world’sfinancial centers andregulators’ ability tocommunicate during anemergency.

New York lawyerswho specialize in cyber-security will be payingattention. “Everybodysays [a cyberattack] isnot an ‘if’—it’s a‘when,’” said MiriamWugmeister, a partnerand head of Morrison &Foerster’s global privacyand data security group.Its 60-member cyber-security team hasgrown by more than athird in the past fiveyears.

For law firms, cyber-security used to be anadvisory and hand-holding activity. But inrecent years, as attackshave mounted, it hasmorphed into a broadpractice that includeslitigation, class actions,enforcement, compli-ance, intellectual-property and reputa-tional damage work. In2012, the American BarAssociation establisheda Cybersecurity LegalTask Force to examinerisks and provide advice.

“This [issue] cutsacross all of the tradi-tional practice areas,”said Harvey Rishikof,senior counsel atCrowell & Moring andABA task force co-chair.

New government-guidelines for publiccompanies and regula-tions for federal con-tractors are also gener-ating plenty of work forlawyers. When a clientof Theodore Kobus, a partner at Baker-Hostetler, had a databreach, the companywound up fieldinginquiries from 12 differ-ent regulatory agencies.

“Regulators are notjust looking at the cause

of a breach, but thebreach is an excuse tocome in and see whetheryour security in general iscompliant,” said Kobus,whose team worked on250 separate incidents

last year, up from 150 theyear before. As a result,BakerHostetler’s privacyand data protection prac-tice has grown to 40lawyers from just eightduring the past few years.

When it’s his week totake the cybersecuritywatch, Kobus leaves hiscellphone on all night. Ifclients find out at 4 a.m.that they’ve beenhacked, they dial Baker’s

hotline—and get him. The challenge is keep-

ing up with the rapidlychanging legal, technicaland regulatory land-scape. Breach notifica-tion laws in 47 states

require companies toalert the people whosedata are affected. As aresult, plaintiff lawyersfile class actions within24 to 48 hours of abreach’s going public. �

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AGENDA

Firms step up cybersecuritypractices as attacks rise

Eyes turn to test of financial sector this month BY JUDITH MESSINA


LAW


Why is speed in the markets a problem?Stock markets have evolved over the past 10 years to rewardpeople who can send orders the fastest. It’s created an armsrace on Wall Street to build the fastest trading system. If youdon’t have that, you’re going to end up buying or selling asecurity at a worse price. We need a fairer system, one whosepriority isn’t necessarily speed but which takes into account whothe customer is. Faster isn’t always better.

Michael Lewis wrote about this issue and concluded the market was rigged. The Securities and Exchange Commission is looking into thematter, and I’m part of an advisory group. Much of the problemstems from reforms designed to end the near-monopolies bigexchanges once had. Today, besides the New York StockExchange and Nasdaq, there are about a dozen other exchangesand 40 alternative marketplaces. Competition loweredcommissions and other costs; one unintended consequence isthat the markets are less stable. You see flash crashes all thetime now, meaning prices collapse and then bounce backbecause some super fast computer program didn’t work asexpected, or someone quickly placed and then withdrew an orderthey never intended to have filled. The upshot is there’s moremoney under management than ever, yet the marketplace hasnever been so fragile or fragmented.

Does the SEC really want to change things?Parts of it do. The SEC hears a lot from investment banks,brokers and exchanges with an interest in keeping the currentsystem. It hears less from investors or companies trying to raisecapital—whose existence is the very point of having markets.

Why don’t big mutual or pension funds complain they’re getting ripped off byhigh-speed traders?They’re star ting to. Vanguard recently spoke about this at anSEC hearing. That’s progress. But you don’t hear from the bigstate pension funds. I think they feel detached from the issue.They hire brokers to manage their money, and it’s the brokerswho are in the market dealing with this speed game.

Is the solution to have people handle trading instead of computers?Back in the day, you had a handful of NYSE floor brokers incontrol of the market, and no one wants to go back to that. TheSEC understands the markets are like a big balloon, and if youpush them one way they’ll bulge in another.

Let’s talk about the business environment.When I took over Convergex two years ago, it had 600 workers;we now have 510. We’ve had nearly 100% turnover in themanagement suite. The firm was coming out of a difficult time,and I needed people who bought into what I was doing. [AConvergex unit and two employees pleaded guilty to federalfraud charges in 2013; the firm paid $44 million in penalties.]Things are looking better now. Business is up year over year.

We need a fairer

system, one whose

priority isn’t

necessarily speed.

... Faster isn’t

always better

Eric Noll is chief executive of Convergex, a Wall Streetbrokerage and research firm that serves institutionalinvestors. A clarinetist, Noll is trying to bring someharmony back to equity, bond and commodity

markets,which these days are ultrafast, fragmented and computer-driven. Noll has long spoken about those points, and last year theywere highlighted in Michael Lewis’ best-selling book Flash Boys.

ERIC NOLL INTERVIEW BY AARON ELSTEIN

AGENDA ASKED & ANSWERED FINANCE

DOSSIERNAME Eric Noll

WHO HE IS Chief

executive, Convergex

AGE 53

BORN Reading, Pa.

EDUCATION

Franklin & Marshall

College, B.A. in

finance and

government;

Vanderbilt

University, M.B.A.

CAREER

ACCOMPLISHMENTS

His first job was at the

Chicago Board Options

Exchange, where he created

a “flex option” that is still

used by traders. He oversaw

Nasdaq’s numerous stock

and option exchanges before

joining Convergex in 2013.

MUSIC MAN Before

heading to Wall Street, Noll

intended to become a

musician with a major

orchestra. He is best at clarinet

and saxophone, but also plays

flute and piano. His favorite

musician growing up was

clarinetist Richard Stoltzman, who

has played with orchestras and

ensembles all over the world. But

after his father advised that he

would probably have to teach if he

wanted a career in music, Noll

headed into finance.

“


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Google’s decision last week todrop plans for its first U.S.retail store, in SoHo, has

spurred speculation that the tech gianthas abandoned ambitions to create abrick-and-mortar extension of itsbrand, even as rivals like Apple,Microsoft, Samsung and—most recent-ly—Amazon have jumped into theworld of in-person selling.

In recent weeks, Google hired theSoHo-based brokerage firm SinvinReal Estate to sublease a 5,442-square-foot-store it leased last year at131 Greene St., where the search-engine giant had spent $6 million torefurbish what it once planned as aflagship retail location.

The reversal comes as Google hasshifted its real estate focus in the cityto a 100,000-square-foot lease it isnow arranging at Pier 57, a project onthe Hudson River in the meatpackingdistrict that has been rechristened byits developers as SuperPier.

What Google intends for that spaceis as mysterious as its decision to dropits plans for 131 Greene St. Known forsecrecy about its internal goings-on,Google isn’t commenting about thepier. A spokeswoman wouldn’t evenconfirm the company was in talks totake the space, even as those familiarwith the deal say it has been in nego-tiations for several months and isclose to being finalized.

A source with knowledge ofGoogle’s plans for the pier when itbegan looking at the project morethan a year ago said the company hadconsidered opening a portion of thesite to the public. Crowds are expect-ed to be drawn to the pier by an

Anthony Bourdain-curated foodemporium that will fill the SuperPier’sground floor, details of which are stillin the works.

Pier 57 also borders Hudson RiverPark, which already draws millions ofvisitors annually.

This source said Google had envi-sioned a showroom to present inno-vative projects, such as the company’sdriverless cars, to the public. Lastyear, the Mountain View, Calif.-basedfirm experimented with a seemingly

similar concept that was also on thewater: floating barges in the Bay Areathat functioned as showrooms.

People familiar with more recentSuperPier negotiations report thatGoogle doesn’t have specific plans.The company, which has voraciouslyexpanded in the meatpacking districtin recent years, may simply use thepier as a new node for an office cam-pus that already encompasses threeneighboring buildings. Although thelease will likely include a 2,000-

square-foot retail space on the pier’sground floor, another source opinedthat “it’s hard to imagine that Googleis planning to do there what it hadplanned to do in SoHo.”

In fact, Google executives are saidto be focused on prominent signage atthe SuperPier, which has logic to it.Unlike many of its peers, Googlemakes few consumer products, soopportunities for branding—ratherthan retailing—may represent its bestuse of ground-level real estate. �

Google’s retail redoEnhancing brand may be more important than moving product

AGENDA

A LOOK INSIDE:Google poured $6million into makingover the storefrontat 131 Greene St.

SIN

VIN

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12 |

The head of the city EconomicDevelopment Corp. unveiledinitiatives to spur job growth in

several key sectors.Maria Torres-Springer said her

agency would create an advancedmanufacturing hub in Sunset Park,Brooklyn, reopen a maritime indus-trial facility called the SouthBrooklyn Marine Terminal by theend of 2016, and develop a trio ofbiotech centers.

Separately, it will transform abuilding near Union Square that iscurrently the 19-year home of a P.C.Richard & Son electronics andappliances store into a hub for cre-ative firms.

The city issued a request for pro-posals to redevelop the property at124 E. 14th St. While some residentialuse may be considered there, the

focus will be on office space. Bids forthe property are due by February,when P.C. Richard’s lease expires.

“Even as supply has increased,demand for commercial space of alltypes … has grown even more rapid-ly,” said Torres-Springer, the for-mer head of the city’s SmallBusiness Services and the EDC’spresident since June.

A study commissioned by the EDCprojected that in the next 10 years,the city will need 60 million squarefeet of additional commercial space,including 3 million for the life-sciences and biotech industries,which are especially hungry for spe-cialized lab space.

Meeting that demand will requireplenty of private-sector develop-ment, and the city believes nearlyhalf its goal could be realized in

outer-borough markets includingJamaica, Queens, downtownBrooklyn, the Lower Concourse in theBronx and on the North Shore ofStaten Island.

Torres-Springer also announcedthat a 55,000-square-foot advancedmanufacturing hub will be created atthe Brooklyn Army Terminal inSunset Park—a massive industrialbuilding that is currently home tothousands of workers. She hopes thenew facility will attract a wider vari-ety of firms from the maker economy,and to sweeten the deal, the cityplans to spend $10 million of publicand private money into creatingshared workspaces and equipmentfor the companies to use.

Meanwhile, in the same neigh-borhood, the city hopes to reacti-vate the dormant South Brooklyn

Marine Terminal, a 72-acre site thathas the potential to connect cargoships to rail transit, unlocking moreshipping options for the types ofmanufacturers that Torres-Springerwants in the borough.

She also aims to triple the amountof biotech and life-sciences space inthe five boroughs to 3 million squarefeet. To start that push, the EDC iscalling for an expansion of theAlexandria Center for Life Sciencealong the East River, at East 29thStreet, and a renovation to boostresearch capacity of the city’spublic-health laboratory along FirstAvenue. It also will help the NewYork Stem Cell Foundation finance anew headquarters in midtown. Allthree projects would result in thecreation of a total of 750,000 squarefeet. �

City unveils initiatives to spur tech, life-sciences industriesState-of-the-art manufacturing hubs planned for Brooklyn

BY DANIEL GEIGER

BY JOE ANUTA

20151109-NEWS--0012,0013-NAT-CCI-CN_-- 11/6/2015 1:12 PM Page 1

CRAIN’S NEW YORK BUSINESS | NOVEMBER 9, 2015

REAL ESTATE

AM a n h a t t a n -based residen-tial builder has

partnered with Vanke,a large Chinese devel-opment firm, to buy adowntown Brooklynsite and construct a 33-story condo tower.

Adam America RealEstate and Vanke, alongwith Slate PropertyGroup, have closed onthe acquisition of thedevelopment site at 10Nevins St. for $47.75million, according tocity property records.The team plans to beginerecting a 180,000-square-foot buildingwith 150 apartmentsearly next year. MelissaWarren and OferCohen, founders of theBrooklyn-based bro-kerage firm TerraCRG,arranged the sale.

Cohen said an addedperk at 10 Nevins St. isthat the previous ownerhad already completedplans for the new towerand secured city con-struction approvals.That will allow AdamAmerica and its partnersto begin constructionimmediately and “capi-talize on the tremen-dous demand for condohousing options in thearea,” Cohen said.

The development willbe the second deal AdamAmerica and Vanke haveworked on together.Earlier this year, AdamAmerica and Slate sold tothe Chinese firm a resi-dential development siteat 251 First St. (alsoknown as 275 FourthAve.) in Park Slope,Brooklyn, said OmriSachs, a co-founder ofAdam America. Vankelater hired the two firmsto manage the process ofbuilding a 44-unit condoproperty there.

“We have a lot oflocal knowledge andexpertise, and they havea tremendous capabilityand understanding inconstruction,” saidSachs, adding that hisfirm and Vanke are inthe process of complet-ing what will be theirthird, and largest, deal

together in the city—acondo conversion inManhattan. He couldnot provide the detailsof that project becausethe acquisition has notbeen finished.

“[Vanke] is buildingsomething like 200,000

units a year in China,and we are exploringways to utilize theirunique ability to sourcematerials for our proj-ects together,” he said.

The 10 Nevins St.development will join awave of construction in

downtown Brooklyn,most of it new residentialbuildings. Sachs said thatthe demand for high-end condos is strongbecause much of thenew supply in the neigh-borhood is rentals.

“When you lookahead at what the neigh-borhood is going to be intwo years when thisbuilding is finished, it’s

going to be totally differ-ent, with great retail andhotels and high-rises,”Sachs said. “This is anarea that is going to feelvery much like an exten-sion of Manhattan.”

Adam America isbuilding another condoproject nearby, at 319 Schermerhorn St.,which will be 23 storiestall and contain 79

units. The two projectswill complement eachother, Sachs said.

“The units atSchermerhorn are moreof a [starter]-typeproduct in terms oftheir size,” he said.“Nevins will have big-ger apartments, al-though both buildingswill also offer a littlevariety.” �

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Deal to yield Brooklyn towerLocal developer, Chinese firm buy $50M site downtown BY DANIEL GEIGER


NEW YORK WILL addtens of thousands ofjobs this year, set-ting a record withsomewhere around4.2 million peopleemployed in thecity. The unemploy-ment rate declinedlast month to 5.2%,

the lowest in seven years. Developersdelivered more than 3,000 units ofaffordable housing in the last fiscalyear, equaling in just 12 months whatthey produced from 2007 to 2013.Wages are rising, if slowly. And thecity is still very safe, with crime of allsorts generally at the same low levelsof recent years.

Yet New Yorkers are more downon their city than they have been inmore than a decade. The Wall StreetJournal/News 4 New York/Maristpolls released last week and earlier

this year show that only 41% of NewYorkers think the city is headed in theright direction, the lowestaverage number since 2004.

Just as puzzling, there isno consensus about what’swrong. The most recentQuinnipiac poll found NewYorkers are all over the mapon what is the biggest prob-lem facing the city: 17% saidcrime, 13% cited housing,10% named policing andthe remaining 60% weredivided among more than10 other issues.

What is at work here? Three likely answers emerged from myreporting last week.

�� SUCCESS RAISES COSTS.

Brian Lehrer of WNYC recentlysummarized the state of the city as“never more desirable and never

more unaffordable.’’ That is anopinion shared by many. The head-

lines are dominated bynews of soaring rents (forthose who live in market-rate housing). Anyonewalking around the citysees a construction boomchanging the face ofneighborhoods. The retaillandscape is being trans-formed in unsettling waysas some longtime small businesses disappear.

�� POLITICAL, MEDIA FEUDS CREATE

ANXIETY.

The assault on the mayor by Gov.Andrew Cuomo and the tabloids istaking a toll. The governor report-edly said recently that his prioritywas to “save the city,’’ and he cer-tainly sends the message everyweek that he has no faith in the

mayor, whether the issue isLegionnaires’ disease, buildingexplosions, MTA funding or educa-tion. The tabloids and TV news havepiled on with sensationalizedreporting of crime.

�� IT’S THE MAYOR’S OWN FAULT.

Bill de Blasio won the electionwith his “tale of two cities,” and hehas continued to tell New Yorkersthat virtually all of them live in thewrong one. They believe him and,as his disastrous 38% approval rat-ing shows, now blame him for notmaking their lives better.

The irony is that the city is doingwell. Most of the people who livehere are benefiting from the strongeconomy, and crime has not risen toany significant degree. ��

GREG DAVID blogs regularly atCrainsNewYork.com.

GREG DAVID

AGENDA VIEWPOINTS

The city’s in great shape,unless you ask a New YorkerBig Apple’s increasing desirability and mayor’s ‘tale’ create a kvetch-22


41%NEW YORKERSwho think thecity is headedin the rightdirection—thelowest in morethan a decade


very rare occurrence in Bed-Stuy and other parts of Brooklyn.MICHELLE RENEE BELLINGER

Arts aren’t frivolousRe “Young, generous &looking for a cause” (Oct.19), which focused on thephilanthropy of millennials:Clearly, these young peopleshould be encouraged tosupport a variety of organi-zations, as there is so muchimportant work in need ofresources. And althoughmillennial involvement inarts organizations was citedin the article, I was disap-pointed by the quote fromone member of this genera-tion, Stephanie Markowitz,who revealed her decisionnot to support the artsbecause “the issues I give toare a bit more [serious] than

arts and culture.”It is time we dismissed this

notion that the role of art inour society is merely a frill.The arts generate moretourist dollars for cities likeNew York than any otherentity. Arts enhance educa-tion and engender love oflearning. Arts build the econ-omy of communities andbring people together. Ourgreatest architectural master-pieces house cultural institu-tions. Finally, art is truly theonly thing that endures fromgeneration to generation togeneration.

Our field deserves morerespect and, I hope, morephilanthropy from people ofall ages.KAREN BROOKS HOPKINS

Senior fellow in residenceThe Andrew W. Mellon FoundationPresident emerita, BAM

The city’s disappearing diners

Disappearing diners“Where have all the din-ers gone?” (Oct. 26)reminded me of goodtimes past. Ihave enjoyedmany excel-lent meals fordecades whenfrequentingany one ofmany localdiners inQueens. Overthe years, wehave seen thedemise of theGold Star (Bayside),Seville (Douglaston), Sage(Elmhurst), Saravan(Flushing), Palace(Flushing), Future (FreshMeadows), Fame(Jamaica), Scobee Grill(Little Neck) and otherdiners.

Diners have been partof my life from myteenage years to today.Eating out is a periodicritual with either friendsor family. Portions aregenerous. Who nevertook a doggie bag homewith leftovers to eat thenext day? Between thecustomary soup, salad,rolls, coleslaw and picklesalong with the maincourse, dinner couldsatisfy the heartiestappetite. Many times, webagged our desserts to go.

Neighborhoods all overQueens have seen changesover time. Many newimmigrant groups some-times favor their ownethnic foods and restau-rants. Diners have alsolost customers to numer-ous fast-food restaurants.Many of their menus haveexpanded to includebreakfast items and agreater variety of items toselect for lunch or dinner.

Local diner owners,including Peter andGeorge Plevrites of the T-Bone diner in ForestHills, and Argyris“Archie” Dellaportas ofthe Bel Aire diner inAstoria, have continuedto invest in our commu-

nity without the assis-tance of taxpayer dollars.They work long hours,pay taxes and provide

local employ-ment. If wedon’t patron-ize our localrestaurants,they don’t eateither.

Why nothonor the fondmemories wehave of theGold Star,Fame, Future,

Palace, Sage, Saravan,Scobee Grill, Seville andothers that have comeand gone by continuingto patronize our remain-ing diners? Here’s hopingthat the remaining dinersdon’t go the way of thedinosaurs.LARRY PENNER

Great Neck, L.I.

MOST DINERS surroundingme are just as expensiveas normal restaurantestablishments. One wentthrough a remodel, and acheeseburger with fries isnow $16. Forget that.THOMAS JAKEWELL

Why shoppers fleeBrooklynNotably absent in“Brooklyn tallies up $6billion in lost retail sales”(CrainsNewYork.com) areany specifics relating towhat would attract bothretailers and consumersto greater shoppingopportunities in Brooklynand elsewhere in the fiveboroughs.

When gas prices inNew York are a minimumof $0.50 per gallon higherin the city, you can betdollars to doughnuts thatNew Yorkers will make aquick trip to New Jersey tofill up a tank of gas. Whengrocery prices in NewYork are 100% more on anumber of staples than theequivalent found in NewJersey, New Yorkers willstop at a market in NewJersey after filling up with

gas. When businesses pay higher taxes, they’llopen in regions where the cost to do businessmakes sense. It’s pureeconomics.

Lower taxation andgreater incentives willtranslate to more com-merce and increasedoverall tax revenue col-lected, all of which willhave a multiplier effect inbudding submarkets,including growing neigh-borhoods in Brooklyn.MATTHEW SILPE

Chief operating officerJJ LabsMoonachie, N.J.

NOBODY HAS mentionedcompetition from resi-dential development,which has shut morethan a couple of gas sta-tions in downtownBrooklyn alone (all theones from Flatbush to theriver on Atlantic Avenueare now gone).

We are losing super-markets as well. If it’s achoice between runninga low-margin supermar-ket and selling every-thing for $20 million, it’stempting to sell out. Soyou might say thatBrooklyn is a victim of itsown success as a place forventure capital—andsomebody should explainthat to the chamber ofcommerce people so theydon’t have to waste theirmoney on studies to findout the obvious.GEORGE FIALA

WHEN I RECEIVE the samelevel of service and prod-ucts I get when I shop inManhattan, then maybeI’ll think about spendingmy money in Brooklyn.

The only place I some-times buy things from is abodega across the streetfrom me (which happensto be owned by a Yemenifamily). The store isclean; they’re nice andattentive; they offer lotsof non-GMO and organicsnacks and food items. A

AGENDA VIEWPOINTS COMMENTSB

UC

KE

NN

IS

Nostalgia for lost eateries; arts fundraising defended

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Private schools face

empty classrooms,

staff defections

in second year of

Bill de Blasio’s

prekindergarten

expansion

CAN’TBEATFREE

BY LETICIA THEODORE-GREENE

Mayor Bill de Blasio regularly touts hisexpansion of public prekindergarten,which has been so popular that evenhis many critics avoid the subject.

But for private preschools, it has emerged as athreat to their very existence.

With free universal pre-K having beenramped up to 65,000 4-year-olds in its secondyear, private-school operators are staring atempty seats in classrooms that were once full.

“This is our lowest enrollment, and we lostabout 50% of last year’s class,” said Dylan Glanzer,co-director of Mozarts and Einsteins Preschool inPark Slope—a high-income Brooklyn neighbor-hood where parents once lined up for hours tosecure seats fortheir children.

For Glanzer,the drop inenrollment hascost her schoolabout $100,000this academicyear. Althoughprivate pre-K schools can become contractors forthe Department of Education’s program, Glanzersaid the agency offered her only $7,000 per child.

“I had to not laugh,” she said. “That wouldn’tcover cleaning costs or the red tape.”

The average cost of a center-based (i.e., outsidethe public-school system) pre-K program for a 4-year-old in New York City is $12,280 per year—thehighest in the country, according to research andadvocacy group Child Care Aware. Elite programscan run upward of $40,000 annually.

“Where are [city officials] getting $7,000?”Glanzer asked. “It doesn’t equate.”

For parents, the math is simple. Peter Engel, aBrooklyn-based marketing consultant, and his

wife moved their 4-year-old daughter out ofHanover Place Child Care Center in downtownBrooklyn and into P.S. 20 in Clinton Hill for thecurrent school year. They had been paying$7,000 for tuition, plus $300 a week for after-school programs, but at P.S. 20 their only cost is$275 for after-school.

But finances weren’t the only factor. “Whatwon us over was the facility,” Engel said. “P.S. 20has big windows, a garden and a playground. Thechildren are able to go out to recess every day.”

The city offers pre-K providers different amountsdepending on real estate costs in the area, the num-ber of employees, and the size and type of popula-tion served, including children learning English as a

second languageand receivings p e c i a l - n e e d sservices. A CityHall spokesmansaid the adminis-tration is spend-ing an average of$10,000 per

child, though that number varies widely.The city’s initiative includes about 1,850

pre-K programs, with 60% of them in early-education centers and 40% in public schools.

Reaction to the de Blasio program has notbeen entirely negative among the 103 mostlynonprofit members of the Day Care Council ofNew York, said Andrea Anthony, its executivedirector. Although some of the members—whoamong them run 221 preschools in the five bor-oughs—said the city did not offer enough fund-ing, others were able to enhance their programsby contracting with the city.

But City Hall not only undercut private

MOZARTS AND EINSTEINS PRESCHOOL’s Dylan Glanzer has lost some seriously cute 4-year-old students to public pre-K.

BU

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The city offered to make her acontractor for $7,000 per student.‘I had to not laugh. That wouldn’t

cover cleaning costs or the red tape’

PRE-K | EDUCATION


schools by offering free tuition for 4-year-olds,it also lured staff from private programs.

“Let’s not forget my teachers in the 2s and 3sclass, the support staff or our directors,” saidAnthony. “I want [the city’s program] to continueto grow, but you need to take care of everyone.”

Public-school teachers make about $6,000more per year than do their private counterparts.Moreover, the administration offered signingbonuses this year.

Tracey Mina, founder and headmistress ofStuyvesant Heights Montessori School, wheretuition is $15,522, has kept her salaries competi-tive but said she cannot raise them further. Also,

with the advent of universal pre-K, the citystopped giving parents vouchers to help paytuition at her central Brooklyn school.

Mina has lost 30% of her students and said shehas heard of other programs losing more, includ-ing one that lost its entire class of 4-year-olds.She believes the administration did not do rightby these entrepreneurs.

“There was no thought about businessesdoing well or those that have supported thecommunity for decades when there were noother options,” Mina said.

Her school opened 11 years ago with a goal ofpreparing children of color for the city’s elite

independent schools. Last year, 100% of hercharges were accepted to prep schools.

Both Mina and Glanzer said they have tochange their business models.

“I will have to focus more on the 2- and 3-year-olds,” said Glanzer, estimating that shewould need to double those classes. “I’ll do fine.”

Mina will convey to parents that her programoffers something different from the city’s.

“This forced me to do heavier marketing, ear-lier,” she said. “[I have to] market to familiescommitted to what I’m doing.”

She added, “Like any other business, you haveto reinvent yourself.” �


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65KNUMBER of 4-year-olds enrolled in thecity’s universal pre-Kprogram during thecurrent academic year

50%PORTION of last year’sstudents lost byMozarts and EinsteinsPreschool in ParkSlope

$6K ANNUAL AMOUNT bywhich public-schoolteachers outearn theirprivate-schoolcounterparts atcommunity-basedpre-K centers

$15KANNUAL TUITION atStuyvesant HeightsMontessori School inBrooklyn

FACTS

PRE-K | EDUCATION


DYING ON THE JOB SITEIt’s more dangerous than it has been in years to

work in New York City construction

Anastassios “Tommy” Intzeyiannis lived with his wifein a Howard Beach, Queens, apartment, where theywere gearing up for their second wedding anniver-sary and trying to start a family. He was still close tohis mother and two siblings, who lived in the

Astoria, Queens, home where he grew up. They recall Tommy asa boisterous grill master whose patience with barbecued ribspaid off for anyone within smelling distance. At work for a con-crete construction contractor, he earned the nickname“Chopsaw,” after the power tool.

On July 16, 2012, Tommy, then 40, fell five floors down a mid-town elevator shaft while working on an annex for FordhamUniversity. He clung to life for 10 days. “The doctor kept saying

BU

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CONTINUED ON PAGE 22BY JOE ANUTA

CONSTRUCTION SAFETY | REAL ESTATE

RANDI INTZEYIANNIS was looking

forward to her second wedding anniversary

when her husband, Tommy, died.


there was a light at the end of the tunnel,” hismother, Christine Kiourtsis, recalled.

After Tommy’s death, his widow, RandiIntzeyiannis, sued the companies running theconstruction site. But instead of making the fam-ily whole, the ordeal divided them. She and herhusband’s family no longer speak, the result of afeud that began at Tommy’s bedside in the hos-pital and was fueled by the trauma of his death.That means she doesn’t see her former sister-in-law’s daughter, born several weeks after theaccident and named Tommi. “His death hasripped this family apart,” Kiourtsis said.

Injury and death have long been a cost builtinto construction in New York. Nearly 30 work-ers died building the Brooklyn Bridge, five per-ished erecting the Empire State Building, and 60met their end during the construction of the oldWorld Trade Center. And despite a concertedeffort in recent years to prevent on-the-job acci-dents, a review of city records shows that con-struction sites are less safe today than they wereseven years ago, when the pace of building wason par with the current booming market and awave of accidents led to rule changes intended tomake work sites safer.

According to data from the city’s Departmentof Buildings, which is tasked with ensuring sitesafety, injuries this year are on track to near 400,more than double the number in 2008, evenwhile construction spending has barely sur-passed the last peak, and building permits issuedare up only 24%.

So far this year, six fatalities have occurred,with four other work-site deaths under investi-gation, according to the city. That’s down from19 in 2008, when a spate of crane accidentsplagued the city. But observers say the differencedoes not mean sites are safer. Death rates fluctu-ate year to year and can spike with one or twosevere accidents. The federal OccupationalSafety and Health Administration tracks work-related deaths using different criteria, and itstallies are even higher. They count 14 fatalities inNew York City this year. But what’s important,experts say, is that most injuries and deaths arepreventable.

“The answer is yes,” said Richard Anderson,the longtime head of the city’s New YorkBuilding Congress. “There are firmsaround the country and the world thatabsolutely commit themselves to beingaccident-free, and they have impressivesafety records.”

The reason injury and death persist isfairly straightforward; fixing the problemis not. Most serious accidents are relatedto workers falling from heights. To pre-vent those and other injuries resultingfrom excavation, concrete work or elec-trical installation, New York City has some of thestrictest safety rules in the country. But manycontractors and workers on the job are not fol-lowing them, despite incentives and punish-ments intended to compel them to: fines, viola-tions, license revocations, work stoppages,insurance premium increases or even criminalprosecution. A major contributor to this grimreality is the lack of enforcement. Understaffedregulators are not catching violations until afteran injury is reported. And although there hasbeen much debate over whether union-run sitesare safer than nonunion ones, the data do notoffer a definitive answer. The city’s Departmentof Buildings believes the real factor is size:Smaller job sites operate with little scrutiny,allowing less-sophisticated contractors to gam-

ble with their employees’ well-being.The rise in injuries and the persistence of

fatalities has not gone unnoticed. Officials andindustry leaders are once again talking about

reform. This time, though, they believe theirplans may actually work.

ROOTS OF THE PROBLEM

On April 24, a wan springtime sun shined overmidtown’s East 44th Street, where somethinghad clearly gone wrong. Around 11:45 a.m.,workers began racing down the sidewalk,knocking obstacles from their path as theyrushed toward a white flatbed truck.

Moments earlier, Trevor Loftus had been try-ing to fix a problem with his truck’s crane, whichwas used to pluck heavy cargo off the flatbed anddeposit it on the ground. Loftus had beenattempting to stretch the steel limb to the secondfloor of an under-construction hotel when the

arm failed. It collapsed, and like a pair of two-ton pliers, pinched him against the truck. Onceemergency workers freed the 40-year-old, theylaid him on the sidewalk. Minutes later, someone

covered him with a white sheet. As a hor-rified crowd watched, a bystander hold-ing a cup of coffee turned and said, “Thisis what happens with scab labor.”

The term is a pejorative for nonunion,or open-shop, construction companies.This particular site was run by FlintlockConstruction, a firm largely credited withspurring the rise in the use of nonunionlabor to build large multifamily residen-tial projects that were once the purview

of union crews. Loftus, however, was not on thecompany’s payroll; he was simply deliveringmaterials to the site.

The onlooker’s comment, however, reflects awidely held belief that nonunion contractors areless safe. Exclusively union shops, after all,spend hundreds of millions of dollars annually onstandardized safety programs and tend to workon the bigger, more complex jobs and higher-profile commercial and public works. And 78%of the accidents in New York are attributed tononunion companies, according to OSHA, whichtracks the affiliation of each firm involved in anincident.

But the reality is more complicated. Someexperts believe most of the city’s work sites arenonunion. Theoretically, these nonunion com-B

UC

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IS


CHRISTINE KIOURTSIS with her granddaughter,

Tommi, named after her uncle. “His death has

ripped this family apart,” Kiourtsis said.


DESPITE EFFORTS TO PREVENTACCIDENTS AND DEATHS,

INJURIES ARE ON TRACK TODOUBLE THIS YEAR, COMPAREDWITH THE LAST BOOM IN 2008


panies could be performing 78% of the totalwork, meaning they are no more dangerous thantheir counterparts. Few people think the break-down is actually that dramatic, but there is nogood way to obtain an accurate statistic, and sorelying on that OSHA figure to make broad gen-eralizations about companies is problematic.

Practically speaking, the distinction may beless important than either side cares to admit:Many large job sites today contain both unionand nonunion labor. And unlike OSHA, the city’sDepartment of Buildings doesn’t bother to trackunion affiliation. It believes that the size of aproject—and the amount of oversight—is a morereliable indicator of how safe the laborers work-ing there will be.

Contractors on buildings taller than 10 storiesare required to hire a licensed safety-site inspec-tor. These sites, owing to their complexity, arealso scrutinized by a dedicated team from theDepartment of Buildings, as well as additionalgumshoes that lenders sometimes dispatch tokeep tabs on their investments. Some very largedevelopers, like the Related Cos., also hire theirown inspector generals to audit their construc-tion activity. Many of the regulations that applyto buildings in this class were introduced orstrengthened in 2008.

Buildings under 10 stories receive much lessoversight, even though they represent 95% ofactive job sites, according to city estimates. Site-safety managers are rarely required, and there islittle chance of receiving a random visit from thesmall inspection force combing the boroughs.About 500 inspectors oversee the more than34,000 job sites estimated to be currently active.OSHA, meanwhile, has fewer than 80 inspectorstasked with overseeing every workplace in thestate, across multiple industries, according to a2014 report from the New York Committee forOccupational Safety and Health.

With authorities stretched thin, most viola-tions go unnoticed until it’s too late. For the 54deaths recorded and investigated by theDepartment of Buildings since 2008, inspectorsissued a citation in 97% of the cases, meaningthat a job site was not up to the constructioncode in some fashion. Since 2011, a year when thedepartment’s data become more nuanced, thecity issued a violation for roughly two-thirds ofinjuries serious enough to trigger an inspection.So far this year, they have done so in 78% per-cent of the cases, suggesting that fewer sites thanever are following the rules.

Faced with limited resources, buildings offi-cials have long targeted larger sites because theyare more complex and dangerous. Of those 54deaths since 2008, around half occurred on siteshigher than 10 stories, showing that scrutiny isstill needed. But the department hopes to expandits reach to smaller sites as well.

TALLYING THE COSTS

Deaths on job sites occur with such regularitythat a Catholic priest named Father Brian Jordanholds a hard-hat mass every year at St. Patrick’sCathedral on Fifth Avenue, itself the subject of arecently completed $177 million restoration byStructure Tone. Jordan is chaplain to the union-ized building trades, but reads aloud the namesof both union and nonunion workers who per-ished during the preceding 12 months. Amongthe 2013 mourners, who often clutch commemo-rative safety helmets, was Kiourtsis,Intzeyiannis’ mom.

“There were so many people,” she recalled.

“There was a woman sitting in front of me withthree little kids. It was heartbreaking.”

Her own son ultimately succumbed to aninfection that attached itself to his injuries.While his family mourned, regulators, lawyersand insurance adjusters began the process ofquantifying the value of his life—and the cost ofhis death to his employer, a firm called CrossCountry, along with the general contractor whohired it, Gotham Construction Co.

The state’s injury compensation industry isresponsible for awarding hundreds of millions ofdollars annually to accident victims and theirfamilies through two pipelines: the officialworkers’ compensation system and civil court.

In the workers’ compensation system,employers pay premiums based on the likelihoodthat their workers will be injured or killed. Atypical construction firm might pay premiums ofabout 2% of a project’s total cost, according toKevin McBride of Alliant Insurance Services. Inreturn, their employees agree to take cashawards rather than sue. The payouts are oddlyspecific. Losing a pinky finger, for example, nets$12,130 in New York state, while a foot is worth$73,995, according to nonprofit news organiza-tion ProPublica. In the case of a death, a familycan either receive a stipend based on wages or a$50,000 lump sum, depending on the circum-stances. Sometimes the state throws in $6,000for funeral expenses. Intzeyiannis’ requiem andburial added up to $10,051, according to court

documents.Doctors at Mount Sinai-St. Luke’s Hospital

were trying to get Randi Intzeyiannis to fill outworkers’ compensation forms while she was stillat the bedside of her dying husband. But once hepassed away, her lawyers decided to sue theconstruction-site manager for damages understate Labor Law 240, known as the Scaffold Law.

Because the law holds employers responsiblefor most gravity-related injuries unless they canprove every possible safety precaution wastaken—which is rare—these cases typically resultin payouts of a few million dollars, and have beenknown to top $20 million. Randi settled for $3.8million, according to filings in Bronx SupremeCourt.

To insulate themselves from such sums, com-panies take out general-liability insurance. Forthe riskiest jobs, like scaffold work, firms canexpect to steer 15% of their income towardinsurance premiums, with deductibles that easi-ly reach $100,000. For general contractors,insurance costs have doubled since 2008, andcan total up 10% of a project’s cost. Deductibles,meanwhile, can run well over $1 million.Laborers and lawyers (who get a cut of theawards) believe the premiums hold contractorsresponsible, keep sites safe and cover expensesthat workers’ compensation does not. Manycontractors, on the other hand, believe the largepayouts incentivize workers to file more incident

PE

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INJURIES RISE FASTER THAN SPENDING

DEPARTMENT OF BUILDINGS DATA suggest that safety on job sites has deteriorated as the

building boom has intensified. Deaths don’t correlate with spending or permitting, but their persist-

ence remains a problem that frustrates city and industry officials, who say deaths are preventable.


YEAR INJURIES DEATHS PERMITS SPENDING2008 178 19 121,571 $37.9 billion

2009 241 9 116,898 $36.9 billion

2010 165 4 111,218 $36.9 billion

2011 152 5 121,027 $31.2 billion

2012 187 8 126,511 $31.5 billion

2013 195 3 129,520 $30.7 billion

2014 237 8 142,840 $36.4 billion

2015 4001 62 155,000 $39.0 billion

1-Projected. 2-Six deaths are confirmed. An additional four are under investigation. All spending is adjusted to 2015 dollars.


reports and sap money that could be used to beefup safety.

Although it’s clear that these premiums andpayouts themselves have not put a dent in theoverall injury and death rate, for individualfirms, being safe can still drive costs down in thelong run, according to William Gilbane III. He isa fifth-generation member of the family, andleads the New York office of Gilbane BuildingCo., which has taken on large-scale projectsaround the country for decades. Like many largefirms, Gilbane runs its own safety protocol thatgoes above and beyond what OSHA requires, andpays less than the industry average in insurancepremiums for firms his size.

Workers’ compensation premiums are decid-ed in part by a state board, which assigns eachcompany that is in New York’s system a ratebased on its safety record, as well as the safetyrecord of the industry. This rating can affect pre-miums by as much as 40% and factor intowhether a contractor will want to hire a subcon-tractor in the first place. The general-liabilityinsurance market functions in a similar way.

“It is definitely cheaper to be safe,” Gilbanesaid, speaking from the company’s Manhattanoffices. “It is such a fallacy to think otherwise.”

ATTACKING THE ISSUE

Louis Coletti heads the Building TradesEmployers’ Association, a membership group rep-resenting unionized contractors and subcontrac-tors. He wants some of the strictures on larger jobsto start applying to projects below 10 stories,along with standards that transcend the union andnonunion divide.

“The city has a responsibility to enforce safe-ty provisions across the board,” he said. “Wewant one, single standard.”

Coletti has a steely-gray mustache that addsconsiderably to the air of authority he has gainedfrom decades in the business. He believes,unsurprisingly, that union sites run by his mem-bers should be the model for that standard. Buthe is also proposing a number of new measuresthat would theoretically make every New YorkCity site safer. His ideas include mandatory drugand alcohol testing, along with requiring allworkers to pass a training course by OSHA.

In addition, he is calling for a comprehensivesafety device that has cut down considerably onworker and pedestrian deaths incountries such as Taiwan and China.It’s called a cocoon, and it is essential-ly an all-encompassing net that risesalong with a building to catch debrisand workers who might tumble fromotherwise deadly heights. They wouldbe common-sense additions to thecity’s roster of precautions, but itremains to be seen how they will bereceived by the de Blasio administra-tion.

One of the few people with the power to actu-ally move the safety needle is Rick Chandler,commissioner of the Department of Buildings.Chandler, who shaved his youthful goatee notlong after being appointed by the mayor in July2014, oversees a much-maligned departmentthat critics say has been unable to keep up withthe current building boom. Still, his departmentis trying.

Ten months after Chandler, 51, took the job,he and the de Blasio administration released areform plan called Building One City that con-tained several preventive measures, including

the publication of an industry code of conductthat might better standardize best practicesacross different sizes of contractors. Chandleralso hopes to use a significane portion of $46 mil-lion in additional city funding to keep bettertrack of who is working and where. Most of thedepartment’s records exist on arcane computersystems. Chandler wants to update the records soinspectors can more easily identify safety out-

liers and the many job sites they are working on.The newly created Office of Risk

Management, for example, will be able to see ifaccidents kept happening across a wide varietyof sites that shared a particular safety inspector,contractor or even a permit expeditor whohelped get the plans passed, and a red flag mightbe raised where none exists now. “We think themajority [in the industry] are good actors, sowhat we are trying to do with this huge invest-ment is improve our ability to identify, locateand track the bad ones, and by coordinating withother agencies, get them off construction sites,”Chandler said. (He has his work is cut out for

him: During his interview with Crain’s twoweeks ago, a roof collapsed on a midtown con-struction site, killing one worker.)

The department has introduced stiffer penal-ties, and has already shown a greater inclinationto shutting down job sites. In late September,Chandler announced that for the first time, ageneral contractor had its license revoked by thedepartment for not paying fines, which exceed-

ed a half-million dollars. The depart-ment also investigated hundreds ofplumbers following the Lower EastSide gas explosion last year, andbrought job sites around the city to ahalt to pore over the records of a par-ticular elevator repair company. OnAug. 5, Chandler suspended thelicense of a contractor, HarcoConsulting Corp., for a pattern of riskybehavior that culminated in the death

of a 22-year-old worker who was buried alive ata meatpacking district construction site when atrench collapsed. “We are really serious aboutusing our authority,” Chandler said.

The Department of Investigation and theManhattan district attorney have also stepped in,this past summer creating the ConstructionFraud Task Force in the belief that fraud in theconstruction industry results in shortcuts thatcan lead to injuries. Earlier this year, agentsarrested 50 building inspectors, including twobureau chiefs. Some were accused of takingbribes to wipe safety violations from the officialrecord. Since then, the task force has madeP

ET

ER

D’A

MA

TO


A PARTIAL BUILDING COLLAPSE at 25

W. 38th St. on Oct. 30 killed one worker.

THE CITY HAS SHOWN A GREATERWILLINGNESS TO GO AFTER

COMPANIES. ‘WE’RE TRYING TOIDENTIFY THE BAD ONES AND ... GET

THEM OFF CONSTRUCTION SITES’



another bust, cuffing more than30 workers accused of usingforged safety cards showing theyhad been through an accreditedOSHA training course, a practicethat has been bedeviling site-safety inspectors around the cityfor years.

Historically, criminal prosecu-tions and convictions have beenrare, owing to the difficulty ofproving that construction compa-ny executives willfully ignoredsafety rules. After a two-and-a-half-year legal process stemmingfrom the 2007 Deutsche Bankbuilding fire that killed two fire-fighters, for instance, all threeindicted construction supervisorswent free.

But Department of Investi-gation Commissioner Mark Petersbelieves that the most recentcase—Harco Consultants Corp.—will send a strong signal to com-panies that feel they can make anend-run around safety rules. “Thetrench-collapse case set some realshockwaves through the industry,because it has been years sinceanyone at that high of a level hasbeen prosecuted,” Peters said,referring to the head of Harco. “Ifover the next year or two we do afew more cases, it will send a very

clear message that if you run anunsafe site and something goeswrong, there are going to be verysevere penalties.”

LOOKING FAR AFIELD

Some in the industry, though,are looking beyond the city’s bor-ders for a solution. About 6,500miles away from Manhattan is aSaudi Arabian city on the coast ofthe Persian Gulf called Jubail,home to the biggest industrial parkin the Middle East. In the late1990s, Chevron Corp. was buildinga large chemical plant there anddecided to retain a Texas firmcalled JMJ Consulting to helpstreamline operations and improveworker safety. “Back when westarted doing this work, you couldexpect to kill a number of peopleduring the commission of a projectlike this,” said Donald Smeltzer,who works out of JMJ’s headquar-ters in Austin.

When the $650 million SaudiChevron Petrochemical plant wascompleted, it was ahead of sched-ule, under budget and, mostremarkably, the subject of a newindustry safety record: Not onlydid none of the more than 3,500laborers die, but in the 13 million

hours worked on the site, there were only twoinjuries.

Based on this feat and others, JMJ Consultingwas invited to a September meeting at theHarvard Club in midtown to talk about how thelessons learned in the oil and gas industry mightapply to construction sites in New York City. Thecompany came at the behest of Coletti, GilbaneBuilding and a few other major constructionexecutives who meet regularly with city agenciesas part of a newly formed safety group.

Smeltzer believes that the industry’s grislypast does not have to be its future. While it hasplenty of rules, what is really needed, he argues,is a culture shift inside companies to alter theway they and their employees think about safe-ty. Right now, many willfully disregard it.“There are still some companies out there doingit the old way,” Smeltzer said. “And particularlyin the Northeast, this macho kind of thing is justvery prevalent.”

JMJ has already worked with constructiongiant Skanska to transform how safety is viewedwithin that company and the subcontractors ithires. The attitude adjustments that resultedwere “a quantum leap,” according to JMJ.

If that change ever comes, it will be too latefor Tommy Intzeyiannis’ family. For his widow,the passage of time has not eased the burden.Intzeyiannis and her in-laws remain at odds.And each baby born to her relatives and friends isa reminder of the family she and her husbandnever had the chance to have. “When I wake upin the middle of the night crying,” she said, “I’malone.” �

100% INCREASE in liabilityinsurance rates since 2008

$70KAMOUNT OSHA will compensate families for the death of a worker

500NUMBER OF INSPECTORS atthe Buildings Department,overseeing 34,000 sites

0NUMBER OF DEATHS at a$650 million Saudi Arabiansite. The project is beingused as a model for NewYork’s construction industry

Sources: Alliant Insurance Services,New York Committee for OccupationalSafety and Health, Department ofBuildings, JMJ Consulting

FACTS

BU

CK

EN

NIS


TREVOR LOFTUS died on this East 44th Street

site when the crane on his truck fell on him.


An Advertising Supplement to Crain’s New York Business

More and more meetings and events are going green, not only out of preference, but out of necessity. According to sustainable conference and event advisors, MeetGreen, in Portland, Ore., a typical fi ve-day conference of 2,500 attendees will use 62,500 disposable plates, 87,500 napkins 75,000 cups or glasses and 90,000 cans or bottles. Add to that the materials used for paperwork and promotion, green-house gas emissions from confer-ence travel and food waste, and you begin to see why more and more companies are striving for smarter, greener meetings.

In a 2014 poll, Meetings and Conventions magazine found that three-quarters of event planners who responded were in favor of greener meetings—as long as they were cost-neutral. Today, there are plenty of things meeting planners can do to make their events more environmentally friendly and stay within budget:

PLANNINGWhen selecting a venue, choose one that has adopted sustainability practices and earth-friendly policies: Inquire about their water-waste policies, any green construc-tion materials and lighting (LEED certifi -cation), and whether their food is locally sourced. The same applies to your hotel.

Since pollution from travel is a main contrib-utor to climate change, think about holding your meeting or event locally. According to Trees for the Future, a program aimed at offsetting travel-related emissions, a jet plane emits approximately one pound of carbon dioxide per passenger mile. That means 3.2 million acres of trees would need to be planted every year to offset the emis-sions caused by the 240 billion miles racked up by U.S. business travelers annually, according to the National Business Travelers Association. Add to this the greenhouse gases generated by rental cars, the amount of energy used at hotels, and waste pro-duced, for conferences and meetings, and it’s obvious: greener business travel would result in signifi cant environmental benefi ts.

ECO TIP: Some hotels, like Starwood, will send you a Meeting Impact Report (MIR) post-event that recaps all the sustainable initiatives you employed and their impact.

COMMUNICATION AND SIGNAGETo cut down on paper, use electronic forms of communication, for everything from save-the-dates to registration and travel tickets. If you must resort to print, switch to recycled paper or a tree-free alternative such as bamboo. Also, print double-sided whenever possible, and use a vegetable-based ink. Trade in your easel pads for erasable white boards—with non-toxic markers, of course. At conferences, encourage recycling of name badges and plastic badge holders by providing bins at all exits. If you really want to cut down on emissions and spending, avoid using dates on signage so that it can be used again at future events.

ECO FACT: Collecting and reusing plastic badge holders for an event of 1,500 attend-ees can save planners up to $1,000.

CATERINGUnderstand your hotel’s or venue’s commit-ment to sustainability when it comes to sourc-ing food and materials, and determine how well they can accommodate vegetarian or veg-an meal preferences. Vegetarians understand that raising animals for food generates more greenhouse gases than all the trucks and cars in the world combined, according to a United Nations report. In addition, carefully plan food portions and the overall menu to avoid waste and arrange for leftovers to be donated to a local shelter or soup kitchen. Using non-dis-posable plates, fl atware and linens, as well as bulk dispensers for condiments and beverages, will also lower your carbon footprint.

ECO TIP: Conserve water by not pre-fi lling water glasses at event luncheons—after three luncheons for 2,200 attendees, you’ll save an estimated 520 gallons of water, according to MeetGreen.

PRBeing a green planner is a benefi t to your business and the planet and one that you can promote to your advantage, as well. Ac-cording to Fortune magazine’s Global Green Report for 2014, the companies that invest in initiatives that help people and the planet, as well as their bottom line, and commu-nicate those efforts effectively, will have a competitive edge in the decade ahead.

In today’s world of event planning, greener is better. Be sure to try out our eco-friend-ly basics at your next event and reap the bountiful benefi ts of good will that come from having attendees who value social purpose and corporate citizenship—not to mention the positive feeling of doing the right thing for Planet Earth.

OFF-SITE SUCCESSPlanning a Successful and Sustainable EventEnvironmentally Friendly Meetings and Events

events | expos | entertainment

Sources: GreenMeetings 2014, APEX/ASTM Environmentally Sustainable Meeting Standards, “World’s 50 Best Global Green Brands,” Fortune 2014, United Nations Report “Livestock: A Major Threat to the Environment,” 2006NEXT EDITION DECEMBER 14/2015

OFF-SITE SUCCESS

Off-Site Success is Crain’s on-going custom content feature for events, expos and entertainment

For information to advertise contactStu Smilowitz at 212.210.0736

View the digital edition at crainsnewyork.com

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Notice of Qualification of JPPF 2000Broadway, LLC. Authority filed with NYDept. of State on 9/18/15. Officelocation: NY County. LLC formed in DEon 9/11/15. NY Sec. of State designatedagent of LLC upon whom processagainst it may be served and shallmail process to: c/o JAMESTOWN,Ponce City Market, 7th Fl., 675Ponce de Leon Ave., NE, Atlanta, GA30308, principal business address.DE address of LLC: c/o CTCorporation System, 1209 OrangeSt., Wilmington, DE 19801. Cert. ofForm. filed with DE Sec. of State,401 Federal St., Dover, DE 19901.Purpose: all lawful purposes.

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Notice of Qualification of Lighthouse

Management Services, LLC. Authority filed

with NY Dept. of State on 9/18/15. Office

location: NY County. Princ. bus. addr.: 2711

N. Haskell Ave., Ste. 1700, Dallas, TX 75204.

LLC formed in DE on 8/12/15. NY Sec. of

State designated agent of LLC upon whom

process against it may be served and shall mail

process to: c/o CT Corporation System, 111 8th

Ave., NY, NY 10011, regd. agent upon whom

process may be served. DE addr. of LLC:

1209 Orange St., Wilmington, DE 19801. Cert.

of Form. filed with DE Sec. of State, 401 Federal

St., Dover, DE 19901. Purpose: all lawful purposes.



RENTIS PROPERTIES LLC, a domesticLLC, Art.

of Org. filed with the SSNY on 2/26/15.

Office location: NY County. SSNY is des-

ignated as agent upon whom process

against the LLC may be served. SSNY shall

mail process to: The LLC, 26COURT ST.

SUITE 2003, NEW YORK, NY 11242 c/o SABAJ

LAW, P.C. GeneralPurposes.

Notice of Formation of Neff Group LLC.

Arts of Org filed with Secy. of State of NY

(SSNY) on 8/26/2015. Office location:

NY County. SSNY designated agent upon

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mail copy of process against LLC to

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Notice of Qualification of TICO SPV, LLC.

Authority filed with NY Dept. of State on

10/9/15. Office location: NY County. LLC

formed in DE on 10/7/15. NY Sec. of State

designated agent of LLC upon whom

process against it may be served and

shall mail process to: 1700 Broadway,

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address. DE address of LLC: c/o The

Corporation Trust Co., 1209 Orange St.,

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with DE Sec. of State, P.O. Box 898, Dover,

DE 19903. Purpose: all lawful purposes.

Notice of Qualification of V/E Madison

Retail LLC. Authority filed with NY Dept.

of State on 10/14/15. Office location:

NY County. Princ. bus. addr.: 210 Route

4 East, Paramus, NJ 07652. LLC formed

in DE on 10/9/15. NY Sec. of State

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process against it may be served and shall

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System, 111 8th Ave., NY, NY 10011, regd.

agent upon whom process may be served.

DE addr. of LLC: 1209 Orange St.,


with DE Sec. of State, 401 Federal St., Dover,

DE 19901. Purpose: any lawful activity.

Notice of Qualification of Zx Ventures

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Princ. bus. addr.: 250 Park Ave., 2nd Fl.,

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Notice of Qualification of Northwood

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location: NY County. LP registered in

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Principal office addr.: 1819 Wazee, 2nd Fl.,

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ptr. available from NY Sec. of State. Cert.

of LP filed with Registrar of Corps.,

Corporate Registry, Service Alberta, Box

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Notice of Qualification of HudsonAdvisors L.P. Authority filed with NYDept. of State on 9/23/15. NYS ficti-tious name: Hudson Advisors New YorkL.P. Office location: NY County. Princ.bus. addr.: 2711 N. Haskell Ave., Ste.1800, Dallas, TX 75204. LP formed in DEon 8/27/15. NY Sec. of State designatedagent of LP upon whom process againstit may be served and shall mail processto: c/o CT Corporation System, 111 8thAve., NY, NY 10011, regd. agent uponwhom process may be served. DE addr.of LLC: 1209 Orange St., Wilmington, DE19801. Name/addr. of genl. ptr. avail-able from NY Sec. of State. Cert. of LPfiled with DE Sec. of State, 401 FederalSt., Dover, DE 19901. Purpose: alllawful purposes.

Notice of Formation of 645 MAD AVE

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Notice of Qualification of AC 12 LLC.

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LLC formed in Delaware (DE) on 04/21/15.

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DE Secy. of State, John G. Townsend Bldg.,

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NOTICE OF FORMATION of One Love

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Office location: NY County. SSNY desig-

nated as agent for for service of

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location: NY County. LLC formed in DE on

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DE address of LLC: c/o The Corporation

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DE 19801. Cert. of Form. filed with DE

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Notice of Qualification of Endale Capital

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agent of LLC upon whom process against

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address of LLC: c/o The Corporation

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AD CONTENT: (PERSONAL ADMIN. CLERK) We

are seeking an experienced Personal Assistant

to provide a high level of administrative support

directly to the Manager, including diary management,

answering calls and managing his correspondence,

providing decision support, with concise sum-

maries, briefings, data analysis, managing the

calendar, ensuring thorough preparation for all

meetings, travel, and logistics, booking travel,

lodging plans and dining plans etc.

If you are compassionate, patient, cheerfuland have a

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loc: NY Co. LP org. in DE 6/1/15. SSNY desig.

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Notice of Qualification of LSREF4Cambridge Village Member, LLC.Authority filed with NY Dept. of State on9/10/15. Office location: NY County.Princ. bus. addr.: 2711 N. Haskell Ave.,Ste. 1700, Dallas, TX 75204. LLCformed in DE on 8/20/15. NY Sec. ofState designated agent of LLC uponwhom process against it may beserved and shall mail process to: c/oCT Corporation System, 111 8th Ave.,NY, NY 10011, regd. agent upon whomprocess may be served. DE addr. ofLLC: 1209 Orange St., Wilmington, DE19801. Cert. of Form. filed with DESec. of State, 401 Federal St., Dover, DE19901. Purpose: all lawful purposes.

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agent of LLC upon whom process against

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to: c/o The LLC, 1095 Park Avenue, NY,

NY 10128. Purpose: any lawful activity.

NOTICE OF FORMATION ofOrcalorka LLC. Arts of Org filed withSecy. of State of NY (SSNY) on8/10/2015. Office location: NYCounty. SSNY designated agentupon whom process may be servedand shall mail copy of processagainst LLC to principal businessaddress: 333 East 55th St. #9E NY,NY 10022. Purpose: any lawful act.

Notice of Formation of 111 Varick

Arlington Owner LLC, Art. of Org. filed with

Sec'y of State (SSNY) on 7/22/15. Office

location: NY County. SSNY designatedas agent


be served. SSNY shall mail copy of

process to NRAI, 111 Eighth Ave., NY,

NY 10011. Purpose: any lawful activities.

Notice of Formation of Medical Hair

Restoration, PLLC. Arts. of Org. filed with NY

Dept. of State on 10/2/15. Office location:

NY County. Sec. of State designated agent of

PLLC upon whom process against it may be

served and shall mail process to: 115 E. 61st

St., NY, NY 10065. Purpose: practice medicine.

105 BOERUM MANAGEMENT LLC

Articles of Org. filed NY Sec. of State

(SSNY) 9/17/15. Office in NY Co. SSNY

desig. agent of LLC upon whom

process may be served. SSNY shall

mail copy of process to c/o Bcb

Property Management, Inc., 27 Union

Square West, Ste. 503, NY, NY 10003.

Purpose: Any lawful purpose.

NOTICE OF FORMATION OF 40 XNORTHWIND LLC. Arts of Org filedwith Secy of State of NY (SSNY) on9/11/15. Office location: NY County.SSNY designated agent upon whomprocess may be served and shallmail copy of process against LLC toprincipal business address: 66 PearlSt. STE 405, NY NY 10004. Purpose:any lawful act.

Notice of Formation of BG ROCKHOLDINGS, LLC Arts. of Org. filedwith Secy. of State of NY (SSNY) on07/24/15. Office location: NY County.SSNY designated as agent of LLCupon whom process against it maybe served. SSNY shall mail processto Corporation Service Co., 80 StateSt., Albany, NY 12207, regd. agentupon whom and at which process maybe served. Purpose: Any lawful activity.

Notice of Formation of The Food Press, LLC.

Arts of Org filed with Secy. of State of NY

(SSNY) on 8/6/2015. Office location: NY

County. SSNY designated agent upon

whom process may be served against

LLC to: United States Corporation

Agents, Inc. 7014 13th Ave #202

Brooklyn, NY 11228. Principal busi-

ness address: 200 Rector Pl. #6G NY,

NY 10280. Purpose: any lawful act.

Notice of Qualification of LSREF4Bayview Colonial Member, LLC.Authority filed with NY Dept. of State on9/10/15. Office location: NY County.Princ. bus. addr.: 2711 N. Haskell Ave.,Ste. 1700, Dallas, TX 75204. LLCformed in DE on 8/18/15. NY Sec. ofState designated agent of LLC uponwhom process against it may be servedand shall mail process to: c/o CTCorporation System, 111 8th Ave., NY,NY 10011, regd. agent upon whomprocess may be served. DE addr. ofLLC: 1209 Orange St., Wilmington,DE 19801. Cert. of Form. filed with DESec. of State, 401 Federal St., Dover,DE 19901. Purpose: all lawful purposes.

Notice of Qualification of KinchAdvertising, LLC. Authority filed withSecy. of State of NY (SSNY) on09/17/15. Office location: NY County. LLCformed in Delaware (DE) on 09/11/15.SSNY designated as agent of LLC uponwhom process against it may be served.SSNY shall mail process to: 637 ElmSt., Westfield, NJ 07090. Address tobe maintained in DE: National RegisteredAgents, Inc., 160 Greentree Dr., Ste.101, Dover, DE 19904. Arts of Org.filed with the DE Secy. of State, 401Federal St., #3, Dover, DE 19901.Purpose: any lawful activities.

Notice of Qualification of New YorkContinuous Care Fund LLC. Authorityfiled with Secy. of State of NY (SSNY)on 09/15/15. Office location: NY County.LLC formed in Delaware (DE) on09/14/15. SSNY designated as agent ofLLC upon whom process against it maybe served. SSNY shall mail process to:426 Broadway, P.O. Box 1386, Monticello,NY 12701. Address to be maintainedin DE: 160 Greentree Dr., Ste. 101, Dover,DE 19904. Arts of Org. filed with the DESecy. of State, John G. Townsend Bldg.,401 Federal St., Ste. 4, Dover, DE19901. Purpose: any lawful activities.

Notice of Formation of TRAVIS POM-POSELLO LLC. Arts. of Org. filed withSecy. of State of NY (SSNY) on7/13/15. Office location: NY County. SSNYdesignated as agent of LLC uponwhom process against it may beserved. SSNY shall mail process to:315 Madison Avenue, Ste. 3019, NY,NY 10017. Purpose: any lawful activity.

Notice of Qual. of 116 University

Development, LLC, Auth. filed Sec’y of

State (SSNY) 7/1/15. Office loc: NY Co.

LLC org. in DE 5/5/15. SSNY desig. as

agent of LLC upon whom proc. against it

may be served. SSNY shall mail copy of

proc. to NRAI, 111 Eighth Ave., NY, NY

10011, the Reg. Agt. upon whom proc. may

be served. DE office addr.: 160 Greentree

Dr., Ste. 101, Dover, DE 19904. Cert.

of Form. on file: SSDE, Townsend Bldg.,

Dover, DE 19901. Purp: any lawful activities.

Notice of Qualification of MUY Properties-NE,

Ltd. Authority filed with NY Dept. of State on

10/7/15. Office location: NY County. LP

organized in TX on 11/26/12. NY Sec. of

State designated agent of LP upon whom


mail process to: c/o CT Corporation System,

111 8th Ave., NY, NY 10011. TX and princi-

pal business address: 17890 Blanco Rd.,

Suite 401, San Antonio, TX 78232.

Name/address of genl. ptr. available from NY

Sec. of State. Cert. of LP filed with TX sec. of

State, 1019 Brazos, Austin, TX 78701.

Purpose: all lawful purposes.Notice of Formation of G & SGUILDED, LLC Arts. of Org. filedwith Secy. of State of NY (SSNY) on09/25/15. Office location: NYCounty. Princ. office of LLC: c/oArthur Indursky, 680 Fifth Ave., NY,NY 10022. SSNY designated as agentof LLC upon whom process againstit may be served. SSNY shall mailprocess to the LLC at the addr. of itsprinc. office. Purpose: Any lawful activity.

NOTICE OF FORMATION OF HADIDICAPITAL, LLC. Articles of Organizationfiled with the Secretary of State of NY(SSNY) on 9/14/2015. Office location:NEW YORK County. SSNY has beendesignated as agent upon whomprocess against it may be served. ThePost Office address to which the SSNYshall mail a copy of any process againstthe LLC served upon him/her is: 202ELIZABETH STREET, SUITE 28, NEWYORK, NY 10012 The principal businessaddress of the LLC is: 202 ELIZABETHSTREET, SUITE 28, NEW YORK, NY10012 Purpose: any lawful act or activity.

Notice of Qual. of 110 Greene Fee Owner LP,

Auth. filed Sec’y of State (SSNY) 7/30/15. Off.

loc: NY Co. LP org. in DE 6/1/15. SSNY desig.

as agent of LP upon whom proc. against it may

be served. SSNY shall mail copy of proc. to NRAI,

111 Eighth Ave., NY, NY 10011, the Reg. Agt.

upon whom proc. may be served. DE office addr.:

160 Greentree Dr., Ste. 101, Dover, DE 19904.

Cert. of LP on file: SSDE, Townsend Bldg.,

Dover, DE 19901. Name/addr. of each gen.

ptr. avail. at SSNY. Purp: any lawful activities.

Notice of Formation of MILBER SPIN

SF LLC Arts. of Org. filed with Secy. of

State of NY (SSNY) on 06/11/15.

Office location: NY County. SSNY des-

ignated as agent of LLC upon whom

process against it may be served.

SSNY shall mail process to Troutman

Sanders LLP, Attn: Brett R. Baker, Esq.,

875 Third Ave., NY, NY 10022. Purpose:

Any lawful activity.

Notice of Formation of AMBASSADOR

PRACTICE MANAGEMENT, LLC Arts. of

Org. filed with Secy. of State of NY

(SSNY) on 10/20/15. Office location:

NY County. SSNY designated as agent

of LLC upon whom process against it

may be served. SSNY shall mail

process to Dennis J. Alessi, 3 Becker

Farm Rd., Ste. 105, Roseland, NJ

07068. Purpose: Any lawful activity.

Notice of Formation of 105/15 APART-

MENTS REALTY LLC Arts. of Org. filed

with Secy. of State of NY (SSNY) on

10/19/15. Office location: NY County.

Princ. office of LLC: c/o 770 Lexington

Ave., 18th Fl., NY, NY 10065. Latest

date on which the LLC may dissolve is

12/31/2035. SSNY designated as

agent of LLC upon whom process

against it may be served. SSNY shall

mail process to the LLC at the addr. of

its princ. office. Purpose: Any lawful activity.


Notice of formation of Jules Trading

LLC. Arts of Org filed with Secy. of State

of NY (SSNY) on 10/20/2015. Office

location: NY County. SSNY designated

agent upon who process my be served

and shall mail copy of process against

LLC to principal business address: 580

5th Ave Ste. 1200 New York, NY

10036. Purpose: All lawful act.

CORDIALE WINE CLUB LLC, Arts. of Org.

filed with the SSNY on 08/21/2015.

Office loc: NY County. SSNY has been

designated as agent upon whom

process against the LLC may be served.

SSNY shall mail process to: Ryan

Marcus, 170 8th Ave. Apt. 2F, NY, NY

10011. Purpose: Any Lawful Purpose.

Notice of Qualification of RT CORPO-

RATE PRIVATE EQUITY GP LP Appl. for

Auth. filed with Secy. of State of NY

(SSNY) on 09/25/15. Office location: NY

County. LP formed in Delaware (DE) on

09/18/15. Princ. office of LP: 280

Park Ave., 22nd Fl., East Tower, NY, NY

10017. SSNY designated as agent of LP

upon whom process against it may be

served. SSNY shall mail process to c/o

Roundtable Investment Partners LLC

at the princ. office of the LP. Name

and addr. of each general partner are

available from SSNY. DE addr. of LP:

c/o Corporation Service Co., 2711

Centerville Rd., Ste. 400, Wilmington,

DE 19808. Cert. of LP filed with Secy.

of the State, DE Dept. of State, John G.

Townsend Bldg., Duke of York St.,

Dover, DE 19901. Purpose: Any lawful

activity.

Notice of Qualification of Northwood

Real Estate Partners Europe LP.

Authority filed with NY Dept. of State on

9/18/15. Office location: NY County. Princ.

bus. addr.: 1819 Wazee, 2nd Fl., Denver,

CO 80202. LP organized in Cayman Islands

(CI) on 8/5/15. NY Sec. of State designated

agent of LP upon whom process against

it may be served and shall mail process to:

c/o CT Corporation System, 111 8th Ave.,

NY, NY 10011, regd. agent upon whom

process may be served. CI addr. of LP: c/o

Intertrust Corporate Services (Cayman) Ltd.,

190 Elgin Ave., George Town, Grand Cayman

KY1-9005, CI. Name/addr. of genl. ptr.

available from NY Sec. of State. Cert. of LP

filed with Registrar of Companies, PO

Box 123, Ground Fl., Govt. Admin. Bldg.,

133 Elgin Ave., George Town, Grand Cayman

KY1-9000, CI. Purpose: all lawful purposes.

P027-28-29CL_CN_20151109_b.qxp 11/6/2015 11:02 AM Page 30

SCOTT WIENER

AGE 33

BORN Cranford, N.J.

RESIDES Brooklyn

EDUCATION B.A. in TV, radio and

film production, Syracuse University

OLD Top historic joints: John’s of

Bleecker Street (Greenwich Village),

Lombardi’s (SoHo), Patsy’s (East

Harlem), Sam’s Restaurant (Cobble

Hill) and Totonno’s (Coney Island)

NEW Top new joints: Bruno (East

Village), Fina Pizza Bar (Windsor

Terrace), Prince St. Pizza (Nolita),

Razza (Jersey City) and Sottocasa

(Boerum Hill)

EYES ON THE PIES He earned a

Guinness World Record in 2013 for

the largest collection of pizza boxes

(595). Within 18 months, he owned

more than 1,050

BU

CK

EN

NIS

GOTHAM GIGS

THINKING OUTSIDE THE BOX:Scott Wiener wrote a book on

pizza-box art, and holds a record

for owning the most pizza boxes.

THINKING OUTSIDE THE BOX:Scott Wiener wrote a book on

pizza-box art, and holds a record

for owning the most pizza boxes.


Scott Wiener is out to educate New Yorkers on

the joy of pizza.The founder of seven-year-old

Scott’s Pizza Tours started his business by giv-

ing a free school-bus excursion for pals on his

26th birthday.

“Everyone begged me to do it again,” he said, noting

that he launched his company six months

later, and has now enlightened at least

37,000 people on the evolution of pizza

throughout the five boroughs.

“We visit pizzerias with different oven

types to show how the taste changed along

with historical and economic changes,” he said.

Visitors receive a Pocket Pizza Journal in which to write

down their own insights about the pizza they’re tasting

at each stop, and at the end of the three- to five-hour

tours,“you know way more about the pizza you like

and why you like it.”

Wiener got his idea in 2004 while ordering food for a

recording studio. “I was like, whoa, this place has been

here since the 1940s, this place from the ’20s.”

“You form a bond with the pizza you eat because it’s

always in the background at birthday parties, after-

school dances,” he said. “It’s the perfect food to share, so

it encourages interpersonal contact.” He employs four

other tour guides as well as a part-time operations man-

ager. The company has a Manhattan address, but he runs

it mostly out of his Brooklyn apartment.

In August, Wiener incorporated his charity, Slice

Out Hunger, which sells $1 pizza slices, and raised

about $40,000 this year for Food Bank for New York

City. He also held his first event outside the

city that month, a benefit for the Oregon

Food Bank. He plans to launch more chari-

ty events nationwide.

Wiener keeps revenue figures private,

but a rough Crain’s estimate puts it at

$4,515 to $4,970 a week. He said an average week

includes public tours for 10 to 14 attendees and private

jaunts for up to 16. The private tours, for companies

such as Yahoo and Twitter, bring in about 40% of over-

all revenue. He plans to step up the marketing of his

private tours, and to feature video on his site of both

private and public tours in action.

Wiener, author of the book Viva la Pizza! The Art of

the Pizza Box, said restaurant owners don’t mind “if I

grab a chunk of wood from below the oven. They don’t

flinch. I understand the way pizza makers work.”

“They sell the food,” he added, “and I’m selling the

experience.”

NYC history, according to sauces

You form

a bond

with pizza

Scott Wiener’s pizza tours offer an educational slice of the city’s changing tastes

“

”

— LISA FERBER


Carl Marks

Advisors:

Brock

Hudson, 54,

joined the

invest-

ment-

banking advisory firm as a

managing director. He

was formerly a manager

and senior vice president

at Amegy Bank.

OneMobile: David Smith,

36, joined the consumer-

engagement company as

managing director of

national sales. He was

previously vice president

of mobile at Amobee.

Duff & Phelps: Daniel

Wager, 45, joined the

financial-services compa-

ny as managing director of

regulatory consulting. He

was previously senior vice

president and head of

regional anti-money-

laundering at HSBC.

PricewaterhouseCoopers:

David Ethridge, 49, joined

the professional-services

firm as U.S. IPO services

leader and managing

director. He was previ-

ously vice president and

co-head of listings at the

New York Stock

Exchange.

Adaptly: Kelley Gott, 48,

joined the media technol-

ogy company as vice pres-

ident and head of strategic

accounts at its New York

headquarters. She was

previously chief revenue

officer at BLiNQ Media’s

New York office.

Rocketrip: Tice Pell, 34,

joined the travel-

management platform as

vice president of sales.

She was previously direc-

tor of strategic partner-

ships at Trulia.

Vizeum:

Shoshana

Winter, 49,

joined the

media

company as

chief strat-

egy officer. She was previ-

ously executive planning

director for digital inte-

gration at McGarryBowen.

Fitch Ratings: Jeff Horvath,

45, joined the financial-

ratings organization as

chief compliance officer.

He was previously senior

compliance executive at

Deutsche Bank.

Stantec: Michael Brothers,

50, joined the design firm

as tristate regional direc-

tor and a principal for

program and project man-

agement. He was previ-

ously vice president at Hill

International Inc.

Meredith Weddings Group:

Jennifer Marder, 44, joined

the media company as

associate publisher for

sales. She was previously

managing director at More

magazine.

KPMG: Brian Sweet, 38,

joined the tax-services

firm as a principal. He was

previously an inspections

leader at the Public

Company Accounting

Oversight Board.

Michael Abbate, 41, joined

as a partner. He was pre-

viously a director at

PricewaterhouseCoopers.

Meredith Canady, 40,

joined as a partner. She

was previously a vice

president at American

Express.

Tal Kaissar, 51, joined as a

partner. He was previous-

ly global head of tax at

AIG.

Phillip Snyman, 40, joined

as a partner. He was pre-

viously a director at

Deloitte.

CetraRuddy Architecture:

Joseph Jebran, 60, was pro-

moted to principal at the

architectural firm. He was

previously an associate

principal.

Popular Community Bank:

Paul Mak, 58, was promot-

ed to New York metro

regional executive. He

was previously director of

commercial real estate

lending.

Megalith Capital

Management: Jon Hibler,

26, joined the real estate

development company as

an associate for acquisi-

tions and asset manage-

ment. He was previously a

member of the land-

development team at

Hines Interest Limited

Partnership.

Citrin Cooperman: Joseph

Turkewitz, 35, joined the

consulting firm as an audit

partner. He was previous-

ly audit senior manager at

Grant Thornton.

TD Bank: Neely Ebrahim, 30,

joined as manager of the

branch at East 86th and

Lexington Avenue. She

was previously branch

manager at a Citibank in

midtown Manhattan.

Barbara

Perez, 34,

was pro-

moted to

assistant

vice

president

and sales and service

manager at the bank’s

branch on West 14th

Street and Fifth Avenue.

She was previously an

assistant store manager.

Greenberg Traurig: Caroline

Heller, 42, was promoted

to head of the law firm’s

pro bono program. She

was previously head of the

firm’s pro bono program

in New York.

Allan Reiss, 64, joined as a

shareholder. He was pre-

viously a partner at

Morgan Lewis.

Kramer

Levin

Naftalis &

Frankel:

Kevin

Scanlan,

45, joined

the law firm as a partner.

He was previously a part-

ner at Dechert.

Cahill Gordon & Reindel:

Pierre M. Gentin, 48, joined

the law firm as a partner.

He was previously global

head of litigation and reg-

ulatory investigations at

Credit Suisse.

Cole Schotz: James G.

Stefanick, 48, joined the

law firm as a member of

the corporate department.

He was previously counsel

in the corporate and secu-

rities group at Dechert.

EXECUTIVE MOVES


JOSH VLASTO,

34, joined the board as

the governor’s designee.

He continues as vice

president at MacAndrews

& Forbes Inc. He was

previously chief of staff

to Gov. Andrew Cuomo.

CORNELLUNIVERSITY BOARDOF TRUSTEES

EXECUTIVE PROMOTIONS

The fastest way to get an announcement into Crain’sis to submit online. Fill out the form at CrainsNewYork

.com/execmoves. TheExecutive Moves column is also available online.


SEE MORE OF THIS WEEK’S SNAPS ONLINE AT CRAINSNEWYORK.COM/SNAPS

Rita Hayworth Gala raises $2 million for Alzheimer’s researchFormer model and restaurateur B. Smith and her husband, Dan Gasby, were honored by the Alzheimer’s Association for calling attention to her struggle with

the disease, which disproportionately affects women. The award was given at the 32nd Annual Rita Hayworth Gala, which was launched by the actress’

daughter Princess Yasmin Aga Khan to help find a cure for the illness that plagued her mother. Since its founding, the event has raised more than $68 million

for Alzheimer’s care, support and research projects.

Robert F. Kennedy Jr.,

environmental activist,

and Colvin Grannum,

president and CEO of the

Bedford Stuyvesant

Restoration Corp., which

provides a variety of social

programs to help Brooklyn

residents. The Restore

Brooklyn event brought in

more than $500,000.

Tony winners

Kenny Leon and

George Faison at

the Oct. 22 benefit

for the Bedford

Stuyvesant

Restoration Corp.,

held at the Four

Seasons Restaurant.

Richard and Lois Nicotra, Staten Island landowners and developers, Brennon

Marcano, executive director of the Council of Urban Professionals, Cid Wilson,

president and CEO of the Hispanic Association on Corporate Responsibility, and

Jeffrey Gural, chairman of Newmark Grubb Knight Frank, at the Oct. 19

fundraiser for Brightpoint Health, held at the Plaza Hotel.

Michael Skolnik,

president of

GlobalGrind.com,

Mike Muse, co-

founder of Muse

Recordings, and

Tony-winning actor

Alan Cumming at a

benefit for Bright-

point Health, which

provides care to those

in need. The event

raised $600,000.

Restore Brooklyn benefit

SNAPS

Honorees B. Smith and Michele Herbert, event emcee and

Today Show co-anchor Willie Geist, gala chair Daryl Simon

and honoree Dan Gasby at the Oct. 27 Alzheimer’s

Association event, which raised more than $2 million.

Anne Hearst McInerney, a member of

the gala’s steering committee, and her

husband, author Jay McInerney, at the

Alzheimer’s fete, held at Cipriani 42nd

Street.

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Brightpoint Health event


FOR THE RECORD*square feet on the groundfloor at 1290 Sixth Ave.

The tenant was represent-ed by Adam Langer ofZelnik & Co. The landlordswere represented in-house by MacArthurCapital Group andVornado Realty Trust.Asking rents for theLexington Avenue andSixth Avenue locationswere $375 per square footand $225 per square foot,respectively.

STOCK TRANSACTIONS

� G-III Apparel Group

(GIII)

Morris Goldfarb, chiefexecutive, sold 137,631shares of common stock at

prices ranging from $63.00to $65.06 per sharebetween Oct. 6 and Oct. 8,in a transaction worth$8,906,557. He nowdirectly holds 4,263,630shares.

� Greenhill & Co. (GHL)

Scott Bok, chief executive,sold 202,510 shares ofcommon stock at a priceof $24.89 per share on Oct.27, in a transaction worth$5,039,806. He nowdirectly holds 406,377shares.

� Sirius XM Holdings Inc.

(SIRI)

David Frear, chief finan-cial officer, exercisedoptions on 2,000,000shares of common stock at

a price of $2.13 per shareon Oct. 26, in a transac-tion worth $4,260,000. Onthe same day, he sold455,386 shares of commonstock at a price of $4.02per share, in a transactionworth $1,830,925. He nowdirectly holds 87,946shares.

� International Business

Machines (IBM)

Bruno di Leo, senior vicepresident of sales and dis-tribution, sold 18,500shares of common stock atprices ranging from$143.33 to $143.65 pershare on Oct. 22, in atransaction worth$2,654,345. He nowdirectly holds 14,045shares. �

NEW IN TOWN

� Brooklyn Spectacles

209 Bedford Ave., Brooklyn

The Brooklyn-based opticalbrand opened a flagship inWilliamsburg. The 450-square-foot store offers sig-nature styles, such as itsWood and Capsule glasses,and exclusive mirroredsunglasses that start at$195. Vintage styles fromdesigner collections are alsoavailable, and customersreceive a complimentarytote bag with purchases.

� Noah

195 Mulberry St.

Created by streetwear labelSupreme’s former creativedirector BrendonBabenzien, the menswearbrand will open its firstflagship store, on the cor-ner of Mulberry andKenmare streets. Featuredproducts include Noahclothing and accessories,which are priced between$800 and $1,200, as well asitems from high-end labelslike Union Los Angeles andAprix.

� Penhaligon’s of London

620 Fifth Ave.

The British perfume houseopened its first flagship inthe U.S., at RockefellerCenter. The store carriesfragrance items such as itspopular juniper-scentedshower gel and citrusBayolea eau de toilette.Afternoon tea and footmenare added perks of theshopping experience.

COMPANY MOVES

� ChaiseFitness

180 Maiden Lane

The boutique fitness studiohas opened in the financialdistrict. The 3,000-square-foot space is the largest ofthe company’s fourManhattan locations. Inaddition to the eight fitnessclasses already offered, theFiDi studio offers threeexclusive classes: indoorcycling, resistance-bandtoning and a new cardio-endurance class specificallyfor men.

� Christofle

396 Bleecker St.

The Parisian flatware man-ufacturer will open its sec-ond Manhattan location, inthe West Village. Its firststore is located on theUpper East Side at 846 Madison Ave. The

downtown retail outpostwill replace the CynthiaRowley-backed CuriousCandy.

BANKRUPTCIES

� Anthony Lawrence of New

York Inc., 32-33 47th Ave.,

Long Island City, Queens

Filed for Chapter 11 bank-ruptcy on Oct. 15. The fil-ing cites estimated assets of$0 to $50,000 and estimat-ed liabilities of $1,000,001to $10 million. The credi-tors with the largest unse-cured claims are KagoUpholstery Supplies, owed$712,068.74; Twenty ThreeR.P. Associates, owed$661,127.90; and the NewYork State Department ofTaxation and Finance,owed $362,948.55.

� Statewide Ambulette

Service Inc.

121 Montgomery Ave.,

Scarsdale, N.Y.

Filed for Chapter 11 bank-ruptcy on Oct. 5. The fil-ing cites estimated assetsof $1,000,001 to $10 mil-lion and estimated liabili-ties of $1,000,001 to $10million. The creditors withthe largest unsecuredclaims are Webster Bank,owed $385,138; AmericanCountry Insurance, owed$88,392; and HiscockBarclay, owed $60,000.

GOVERNMENT CONTRACTOPPORTUNITIES

CONSTRUCTION

� Department of Parks

and Recreation

Seeks competitive sealedbids by 10:30 a.m. on Nov.20 for the reconstructionof the electrical system atBayside Marina in Queens.Bid documents are avail-able between 8 a.m. and 3p.m. in the BlueprintRoom, Room 64, OlmstedCenter, Flushing MeadowsCorona Park, for a $25 feepayable by company checkor money order to the Cityof New York, Parks andRecreation. To makeinquiries, contact MichaelShipman at (718) 760-6705or [email protected].

GOODS AND SERVICES

� Housing Authority

Seeks competitive sealedbids by 10 a.m. on Dec. 1 forthe replacement of exteriorlighting fixtures at variousNYCHA developments inthe Bronx. To conduct a

search for the RFQ number,visit nyc.gov/nychabusi-ness. Nonelectronic biddocuments are availableMonday through Friday,from 9 a.m. to 4 p.m., at 90Church St., sixth floor, for a$25 fee in the form of amoney order or certifiedcheck made payable toNYCHA. To make inquiries,contact Erneste Pierre-Louis at (212) 306-3609 or [email protected].

REAL ESTATE DEALS

COMMERCIAL

� Houghton MifflinHarcourt signed a 12-yearlease for 90,000 squarefeet at 215 Park Ave. Thepublishing company willoccupy part of the 18thand 23rd floors, and theentire 19th, 21st, and 24thfloors in the 41-storytower. Joseph Cabrera andDavid Glassman of ColliersInternational representedthe tenant. The landlord,Cohen Brothers RealtyCorporation, was repre-sented in-house by MarcHorowitz. The asking rentis $63 per square foot.

� Robert DerectorAssociates signed a 15-year relocation andexpansion lease for 33,612square feet of space onpart of the 11th and 12thfloors in the 16-storyoffice building at 19 W.

44th St. The tenant wasrepresented by WayneVan Aken and RobertYaffa of Cushman andWakefield. The landlordwas represented byWilliam Korchak andBarbara Winter of JLL.

RETAIL

� Bandier signed a lease for8,600 square feet at 164

Fifth Ave. in Chelsea. Thewomen’s sportswear bou-tique will occupy theground, mezzanine andlower levels of the four-story building betweenWest 21st and 22ndstreets. The tenant wasrepresented by John Brodof ABS Partners. Landlordrepresentation and theasking rent were not dis-closed, but rents forground-floor space in thearea are about $400 persquare foot.

� Dos Toros Taqueriasigned 10-year leases for3,200 square feet at 636

Lexington Ave. and 2,191

ABOUT THIS SECTIONFor the Record is a weekly listing to help businesspeople in the New York area findopportunities, potential new clients and updates on customers. Bankruptcy filings from theEastern and Southern districts of New York are listed alphabetically, as are recentlyannounced New York City agency contract opportunities. Real estate listings are providedin order of square footage. Stock transactions at New York’s largest publicly heldcompanies were filed with the Securities and Exchange Commission. Listings are in orderof transaction value, and the information was obtained from Thomson Reuters.

To submit company openings, moves or real estate deals, or to receive further information,email [email protected].

*

Interactive Data Holdings Corp./ $7,820.3 Intercontinental Exchange Inc. SB M&AWarburg Pincus (Manhattan);

Silver Lake; Stockwell Capital

Astoria Financial Corp./ $2,003.5 New York Community Bancorp SB M&ACitadel; BlackRock Fund Inc. (Westbury, L.I.)

Advisors; Astoria Bank, ESOP

(Long Island City, Queens);

Basswood Capital Management

(Manhattan); Citadel Advisors

Pep Boys/ $1,165.4 Bridgestone Retail Operations SB M&AGores Group; GAMCO

Investors Inc. (Rye, N.Y.);

BlackRock Inc. (Manhattan);

Vanguard Group Inc.;

Barington Capital Group

(Manhattan); Dimensional

Fund Advisors; Franklin

Advisory Services

APR Energy plc (66.11%)/ $771.5 Fairfax Financial Holdings Ltd.; FB M&AAdvent Capital (Holdings) Ltd.; Albright Capital Management;

Brandes Investment Partners; Acon Equity Management

First Capital Insurance Ltd.;

General Electric International Inc.;

Global Frontier Investments;

Hamblin Watsa Investment

Counsel Ltd.; JCLA Cayman Ltd.;

Mason Hill Advisors (Manhattan);

Newline Corporate Name Ltd.;

Odyssey Reinsurance Co.;

RiverStone Corporate

Capital Ltd.; U.S. Fire Insurance Co.;

Zenith Insurance Co.

Simplex Investment Advisors Inc./ $554.3 Hulic Co. Ltd. SB M&AAetos Capital Real Estate

(Manhattan)

Selected deals announced for the week ended Oct. 29 involving companies in metro New York. SB M&A:

Strategic buyer M&A represents a minority or majority acquisition of existing shares of a company without

the participation of a financial buyer. FB M&A: Financial buyer M&A represents a minority or majority

acquisition of existing shares of a company with the participation of a financial buyer.

DEALS ROUNDUPTRANSACTION SIZE

TARGET/SELLERS (IN MILLIONS) BUYERS/INVESTORS TRANSACTION TYPE

SOURCE: CAPITALIQ



PHOTO FINISH

Solesurvivor

W alter Wyche loves winter in

New York. That’s when he

starts seeing an uptick in

customers at his shoeshine

booth just outside Grand Central Terminal’s

East 42nd Street entrance. “Bonus season,”

he said. “It’s a gold mine!”

“Shine,” as Wyche’s repeat customers call

him, has polished shoes for 53 years. He left

his Harlem cobbler shop for midtown decades

ago as sneakers edged out shoes and boots in

popularity. Now a big share of his clients are

well-heeled bankers and executives who pass

through Grand Central. Though Wall Street

bonus pools may shrink from their 2014 levels

after a turbulent year, Shine is bullish enough

to contemplate raising prices—currently $5 for

shoes and $6 for boots.

Shine is one of the last survivors of

changing footwear trends. Though his sales

may rise, the number of repair and shoeshine

services is shrinking. The Bureau of Labor

Statistics estimated only 610 of those jobs

remained in New York state in 2014. This year,

one venerated establishment, Louis Shoe

Rebuilders, was booted from its lease after 94

years in the Empire State Building.

“Shoes are manufactured so cheaply,” said

KaeLani Lada, who shines shoes at Chelsea

Market. “So people can just use their shoes

and then throw them out.” Her business, A

Shine & Co., offers custom dye jobs and shines

that can reach $25, and thrives thanks to the

growing ranks of shoe aficionados. “The

specialty aspect of our business has

tremendously grown in the past five years,”

she said.

PE

TE

R D

’AM

AT

O


— PETER D’AMATO


AD

General Information Production Specs PrePress Info

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Q.C.: Ricky Fischer

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Client OK:

Name OK FIX Date File name: 16717_ELWorkBusJrnlsOct_10.26.15.indd

Client: T-Mobile

Job #: 15-TMO-180-P01

Media Type: Back Cover

Release Date: 10/26/15

Date/Time: 10-20-2015 2:43 PM

Creative Version: 16717

Bleed: 11.125” x 14.75”

Trim: 10.875” x 14.5”

Live: 10.25” x 14”

Gutter: None

Common Size: None

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Application: InDesign CS6 8.0.2

Colors: Cyan, Magenta, Yellow, Black

Fonts: Tele

Comments: NY CRAINSOCT - Week 5

NY CRAINS - 16717OCT - 10/26/15 - 10.875”X14.5”

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S:10.25”S:14”

T:10.875”T:14.5”

B:11.125”B:14.75”

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