Crain's New York Business

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Stakes raised for NY’s gambling bid.Casino proliferation statewide andregionally could crack the goldenegg: tax lucre P. 3

THE MAYOR’S RACEGreg David on Chris Quinn, Ray Kelly, Joe Lhota, JohnCatsimatidis and more P. 11

Madonna andJennifer Lawrenceswear by this young designer’s high-endduds. He’s just one of the buddingsuperstars on our list:Pages 13 to 35

HERE THEYARE! THISYEAR’S 40UNDER 40


CREATIVEDIRECTORALTUZARRAJoseph Altuzarra, 29

VOL. XXIX, NO. 12 WWW.CRAINSNEWYORK.COM MARCH 25-31, 2013 PRICE: $3.00

NEW YORK BUSINESSCRAIN’S

NEW YORK BUSINESS®

2013 40under40 front and back covers.qxp 3/22/2013 7:38 PM Page 2

ELECTRONIC EDITION

2 | Crain’s New York Business | March 25, 2013

CITI SETTLES. Citigroup on Mondayannounced it was shelling out $730million to settle a class-action lawsuitbrought by investors who said theyhad been misled about the risk andquality of 48 bonds and preferredstocks. Plaintiffs in the case includethe Arkansas Teacher RetirementSystems and the Louisiana Sheriffs’Pension and Relief Fund. … THARSHE BLOWS! JPMorgan Chase & Co. received a downgrade on itsmanagement rating from the office ofthe Comptroller ofthe Currency last July,but the confidentialclassification wasrevealed only lastweek. The down-grade was madepublic in the Senatereport on the“London whale”trade, which cost thebank $6.2 billion in2012. The rating ispart of a system forjudging banks’ capitaladequacy, assetquality, management, earnings andliquidity on a 5-point scale, with 5being the worst. The company’srating rose to 3 from 2. The feds sayanything 3 and above poses concerns.… CIGS OUT OF SIGHT. After hislarge-soda ban was struck down by acourt, Mayor Michael Bloombergproposed requiring New York City’sretailers to hide cigarette displays.New York would become the first

major city in the nation to enact sucha ban. … WTC OBSERVATORYOBSERVATION. New York and NewJersey Govs. Andrew Cuomo andChris Christie last week announcedthat Legends Hospitality, a firmowned by the Dallas Cowboys, theNew York Yankees and New York-based Checketts PartnersInvestment Fund, will operate theobservation deck at 1 World TradeCenter.The observation deck, whichwill be 1,200 feet above ground on the

building’s 100th,101st and 102ndfloors, is expected tocost $62 million andwill open in 2015, ayear after tenantsbegin moving intothe building. …GUGGENHEIM TO GOEAST. The SolomonR. GuggenheimMuseum andFoundation receivedone of the 10 biggestacquisition grants inits 74-year history.

The grant is reportedly for about $10million and came from the RobertH.N. Ho Family Foundation, whichwas established in Hong Kong in2005. The grant will be used tocommission works from at least threeChinese artists. The foundationpreviously sponsored two majorChinese art exhibitions at theGuggenheim. … LADY LIBERTY TOREOPEN JULY 4.The Statue of Liberty

will reopen on Independence Day,eight months since being closed afterSuperstorm Sandy damaged LibertyIsland’s docks and infrastructure. Noword yet on a timetable for EllisIsland’s reopening. … SUBWAYWORKER RESCUED. A constructionworker was rescued just aftermidnight last week after beingtrapped waist-deep in mud for fourhours 75 feet below ground. He wasworking on the Second Avenuesubway at East 95th Street.

—ali elkin

vol. xxix, no. 12, march 25, 2013—Crain’s New York Business (issn 8756-789x) is publishedweekly, except for double issues the weeks of July Fourth, Labor Day and Christmas, byCrain Communications Inc., 711 Third Ave., New York, NY 10017. Periodicals postage paid atNew York, N.Y., and additional mailing offices. Postmaster: Send address changes to: Crain’sNew York Business, Circulation Department, 1155 Gratiot Avenue, Detroit, MI 48207-2912.for subscriber service: Call (877) 824-9379. Fax (313) 446-6777. $3.00 a copy, $99.95 oneyear, $179.95 two years. (GST No. 13676-0444-RT)©Entire contents copyright 2013 by Crain Communications Inc. All rights reserved.

New anchorfor Seaport

The South Street Seaportredevelopment projectcleared its final hurdle last week, when the City Council approved the developer’s plan to

build a new shopping mall at Pier 17 by 2015.But Dallas-based Howard Hughes Corp. had to agree to some significant concessions to

appease the downtown community’s concerns about the project. It is required to build at leastone public food market by October 2014 that will be open seven days a week—and if itdevelops the Tin Building at the historic Fulton Fish Market site, it will be required to set aside10,000 square feet for a second food market selling locally and regionally sourced productsseven days a week.

The company also had to delay the start date for construction by three months until Oct. 1,allowing the tenants of Pier 17 to stay open all summer to help recoup their losses fromSuperstorm Sandy. “We can’t explain how happy we are to get the summer,” said Sal Himani,whose family owns six restaurants at Pier 17. “We need it.”

Questions remain, however, about what the developer plans to do to revive the Uplands areaof the Seaport, where it is the primary landlord.That area has remained largely closed since lateOctober when Sandy hit.The cobblestone pedestrian plaza located on Fulton Street had been alively retail community but is virtually shuttered now.

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FYICRAINSNEWYORK.COM

‘Lookingforward to a

tax refund? Soare identity

thieves’—Former Mayor RudyGiuliani, in infomercialsfor LifeLock, an ID-theftprevention firm that is aclient of Mr. Giuliani’sconsulting company

STORIES TO WATCH THIS WEEKMarch 25:State AG’s officemeets trustee for Bernie Madoffvictims.

March 27: Town hall inRockaways onfederal funding forSandy relief

March 28: ‘21st Century Cityfor All’ session at Skadden Arpsoffices

March 29: Deadline to registerfor FEMA disasterassistance in NewYork

—lisa fickenscher

EDITOR’S NOTE

40 somethingsWay back in 1993, when I was 32and an assistant managing editorof Crain’s Chicago Business, one ofmy responsibilities was running theannual 40 Under 40 franchise forthe Windy City paper. (I say paper,and only paper, because the WorldWide Web had just been inventedthat year. Yes, newsroom interns, Iam rilly, rilly that old.) Among the

more memorable 40 Under 40 honorees in thatChicago Class of ’93, even back then, was a 32-year-old community organizer named Barack Obama. Hewas fresh off a stunning local political success, havingled 10 employees and 700 volunteers in a voter-registration drive that added an unprecedented150,000 people to the Illinois rolls. Clearly, he wouldbe going places.The state Legislature, probably.Maybe even … City Hall. Now, I personally believeI ended up with the better job than he did 20 yearslater. (And the better city than D.C.) But I thinkabout that improbably prescient pick every time wehere at Crain’s New York Business begin siftingthrough the hundreds of nominations we receiveeach year for our own annual 40 Under 40 issue. Wedon’t necessarily look for future presidents. We dolook for unusually impressive young achievers inbusiness, government, nonprofits, the arts andelsewhere who we believe will play leading roles inshaping all that is New York City over the next 20years.The audacity of hope, you might call it. I ampleased to point you to Pages 13 to 35, where youwill meet our latest collection of 40 of New York’smost audacious hopes. And I hope you agree:Clearly, they will be going places.

Glenn Coleman

HOORAY!

CITY FIREDEPARTMENTCOMMISSIONERSalvatoreCassano’s sonresigned from hisFDNY job after aseries ofoffensive Twitterposts, manyracially charged.

OY VEY!

NBC’STONIGHTSHOW isreturning toNew York City42 years afterJohnny Carsonmovedproduction toBurbank, Calif.

IN THE BOROUGHS-------------------------- 3IN THE MARKETS----------------------------------4REAL ESTATE DEALS-----------------------5THE INSIDER -----------------------------------------------6OPINION --------------------------------------------------------10ALAIR TOWNSEND-------------------------11GREG DAVID--------------------------------------------1140 UNDER 40 --------------------------------------13CLASSIFIEDS -----------------------------------------36SMALL BUSINESS--------------------------39NEW YORK, NEW YORK----------41SOURCE LUNCH--------------------------------42

THIS WEEK IN CRAIN’S

BUSINESS PEOPLEOlivia Crenshaw, NYC’s topGirl Scout cookie purveyor,has mastered the hard sell.P. 7

CORRECTIONS

CBRE broker Susan Kahaner has met with the Brooklyn Public Library to discuss thepossibility of helping it sell off locations. That information was misstated in the March18 “Nonprofits sell space to prosper.”

Laila Worrell was promoted to head of Accenture’s New York and New Jersey offices.She continues as managing director, financial services. That information was misstatedin the Feb. 4 Executive Moves.

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BY ANNIE KARNI

Developers and other backers of amassive plan to rezone east mid-town have a new and surprising ar-row in their quiver: a green one.

A report by an environmentalconsulting group has concluded thatthe city’s dozens of midcenturyglass-sheathed skyscrapers, with atotal of tens of millions of square feetof office space, are so wildly energy-inefficient that it would be better forthe environment to bulldoze themand start over.

Even allowing landlords to re-place their aging, inefficient towerswith larger ones—the fastest way toincentivize them to do just that—would leave less of a carbon foot-print than maintaining and runningthe buildings as they are, concludedthe report.

Its findings fly in the face of themantra long touted by preservation-ists that the energy expended indemolition, carting away rubble andrebuilding far exceeds that requiredto keep a historic building in place.

“Preservation folks have createdthe legend that keeping a building ismore sustainable than demolishingit,” said architectural historian andconsultant George Thomas, whohas lectured at Harvard, the Univer-sity of Pennsylvania, and elsewhere.“What this report says is dramati-cally new.”

For the real estate interests back-

Landmark battle turns greenBest fate for manyenergy-inefficientglass towers may be the wrecking ball

Locals want city to rollback proliferation ofpushcarts in SoHo

BY ADRIANNE PASQUARELLI

On a recent Sunday, Peter Daviscounted 70 street carts—from cup-cake vendors to sellers of cellphonecases—lining the seven blocks ofBroadway between Canal andHouston streets. During the sum-mer months, he has seen that num-ber more than double, resulting inovercrowded sidewalks, overpower-ing food smells and a constant din.

“This is one of the highest-priced areas in the city, and it lookslike crap,” said the artist and ceram-ics teacher, who has lived in theneighborhood for 35 years. “We’vereached the tipping point.”

Increasingly, others in the areaare rallying to his cause. In January,local Community Board 2 sent a let-ter to Mayor Michael Bloomberg,urging him to examine the street-vendor congestion issue on Broad-way and to resurrect a long-dormantregulatory panel to crack down onscofflaws.

In recent weeks, some CityCouncil members have also steppedup and persuaded the Departmentof Health and Mental Hygiene to

Vendorsbingeingon B’way

IN THE BOROUGHSMANHATTAN

BY CHRIS BRAGG

With the New York Legislaturewrapping up its annual budget bat-tle, the proposed legalization ofgambling will take center stage ascasino operators, legislators andcommunities tussle over the billionsof dollars and thousands of jobs itwould spawn. But a key fact is beingoverlooked, some observers say:New York’s antiquated system ofelectronic gaming is actually theenvy of tax collectors nationwide,and the proposed creation of up toseven new casinos around the state

could upset that dynamic.“You don’t want to kill the gold-

en goose,” said Alan Woinski, theauthor of a popular gambling indus-try newsletter he writes for consult-ing firm Gaming USA.

Unbeknownst to many, NewYork’s nine racinos generate moretax revenue from gambling thanNevada and New Jersey combined.While those two states are home to

casino meccas Las Vegas and At-lantic City, New York taxes raci-nos—horse-racing tracks featuringarmless slot machines and otherelectronic games instead of humandealers—at a stratospheric 67%rate. By contrast, New Jersey taxescasinos at 9.25%, and Nevada takesjust a 6.75% cut. Nearly half of theNew York revenue, or about $1 bil-lion, is budgeted for school aid thisyear.

“New York has two racinos aloneright now”—in Queens andYonkers—“that make more moneyfor the state than anywhere in thecountry,” said Mr. Woinski.

While racinos get by with com-paratively little overhead, develop-ers of destination casino resorts havemuch higher up-front and operat-ing costs, and thus insist on lowertax rates. In New York, they wouldlikely seek to pay no more than 35%,

See CASINO on Page 40

As gambling revenues surge,casino plan may be risky bet

See MIDTOWN on Page 40

March 25, 2013 | Crain’s New York Business | 3

NY’s racinos netmore taxes than NJ,Nevada venues;competition coming

STATS AND THE CITYCAR TALK: The 2013 New York International Auto Show opens on March29 and runs until April 7 at the Jacob K. Javits Convention Center.

1,000NUMBER of vehicleson display at the2012 New YorkInternational AutoShow

1M+ ATTENDANCE at the2012 show

12.7%PORTION of retailsales in New Yorkstate that comefrom autodealerships

10.375%TAX RATE on parkingservices in all fiveboroughs (inManhattan, the rateapplies only toresidents)

18.375%TAX RATE on parkingservices in Manhattanfor nonresidents

Sources: Greater New York Auto-mobile Dealers Association,National Automobile DealersAssociation, New York StateDept. of Taxation and Finance

‘You don’t wantto kill thegolden goose,’one expert says

See BINGEING on Page 9

ADDICTED TO NUMBERS? GET A DAILY DOSE AT @STATSANDTHECITY

BIGGEST LOSER:Forty-seven-year-old 675 Third Ave. leaksheat like a sieve, asthese thermal images,captured last week,suggest.

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Citi eases peerpressure on pay

IN THEMARKETS

filed earlier this month. Most de-cidedly in are stumbling global gi-ants like Bank of America, Barclays,HSBC and JPMorgan Chase.

A spokeswoman explained thatthe changes in the peer group “weremade to focus on firms with similarlines of business to those of Citi.”

So it must be simply a coinci-dence that the new list excludesthree of the best-performing finan-cial institutions and includes manyof the worst.

For example, AmEx last yeargenerated a return on equity of23.5%, and its share price has risenby 66% over the past three years.Capital One’s ROE last year was9.9%, and its share price gained34%. For those keeping score athome, Citi’s ROE last year was4.1%, and its stock is up 12% overthe past three years.

No wonder Citi would ratherkeep company with the likes of BofA(1.3% ROE, 25% stock decline) orBarclays (negative ROE, an 11%stock drop).AmEx and Capital Onedisappeared from Citi’s self-selectedpeer group after only a year in it.

Now let’s suppose that one rea-son Citi awarded $12.4 million to

Chief Executive Michael Corbat and$15.1 million to Global ConsumerBanking CEO Manuel Medina-Moralast year was because that was sim-ply the market price for such exec-utives—at least the market definedby Citi. Let’s further suppose Citifeared that if it didn’t pay such gen-erous sums, the executives, whohave spent their entire careers atCiti or its predecessors, would taketheir talents elsewhere.

This is the accepted wisdomwithin the corporate world, but astudy last year from the Investor Re-sponsibility Research Center Instituteshowed that of the 1,827 CEOs ap-pointed at S&P 500 companies be-tween 1993 and 2005, only 2% hadbeen CEOs elsewhere.The reason,the study explained, is that “thenecessary skills to successfully run acompany cannot be acquired be-sides through actual experience atthe company; therefore, executivesare not typically transferable be-tween firms.”

In other words, no matter howmuch Citi chooses to contort itselfto rationalize the pay it awards itstop folks, it has little reason to fearthat they’ll actually defect. �

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JPMORGAN CHASE’s cost of providing“residential and related security” forJamie Dimon in 2012. The chief exec

was awarded $18.7 million in total compensation last year,when the bank’s record earnings of $21 billion were marredby $6 billion in “London whale” trading losses. Mr. Dimon’spay was 19% lower than in 2011.

New York is promised landfor Israeli tech startups

BY MATTHEW FLAMM

Six months ago, StartApp Inc.moved its headquarters to Manhat-tan from Tel Aviv, where the startupwas founded in 2010. The funnything was, it was already an Ameri-can company—registered inDelaware on its first day.

“When the founders are experi-enced, they know you have to be inthe U.S.,” said Itay Rokni, vice pres-ident of marketing at StartApp,which helps mobile developers gen-erate advertising revenue from freeapplications.“From day one,the tar-get audience was not in Israel.”

StartApp was, in fact, followingthe unofficial rule book of the suc-cessful Israeli startup: establishing acompany aimed at the global mar-ket, and then gaining enough trac-tion to move its leadership to theU.S. Like nearly all tech firmsfounded in Israel, StartApp kept itsresearch and development team athome, in Tel Aviv’s Silicon Wadi,where a deep bench of engineers isfed by universities and the military.(“Wadi” is Arabic for valley.)

The model has helped give the

so-called startup nation a higherprofile in the U.S.technology indus-try than any other foreign country.That profile has become even moreprominent lately in New York,as thecity’s expanding tech economy hashelped draw Israeli firms that mightonce have moved to Silicon Valley.

A simplified process“There’s an acceleration of the

ecosystem in New York, and Israelistartups happen to be a big part ofthat,” said Yaron Samid, a serial en-trepreneur whose newest companyis personal-finance security firmBillGuard.“You’re also seeing an in-

creased interest [among U.S. in-vestors] in funding Israeli startups,and at a certain phase investors willrecommend that the company moveto the U.S. More than ever, compa-nies are choosing New York.”

The Israeli startup model alsosimplifies the process by whichfounders and executives can move to

the U.S. Since these are establishedcompanies, they can apply to bringin their top people on an L-1, ormanagement, visa as long as anAmerican can’t do the same job.That’s an easy case to make whenthe executive needs to communicatein Hebrew with the company’sengineers.

Mr. Samid, who runs TechAviv,a global “founders club” for the Is-raeli tech industry, counts nearly200 active tech companies in NewYork City founded by Israelis. Thatroughly matches his estimate forCalifornia and is double his total forMassachusetts.

Those numbers don’t include allthe Israeli startups that have beenacquired by U.S. firms over the yearsand continue to drive innovation,like 5min Media, which became thecore of AOL’s video syndicationbusiness and still keeps its engineersin Tel Aviv. Israel is also known forhaving more firms listed on the Nas-daq than any other country exceptChina and the U.S.

Proximity a keyIsraeli executives give several

reasons why New York has becomea preferred destination. There’sproximity. The time difference isonly seven hours, versus 10 in Cali-fornia, and the 10-hour flight to TelAviv is nonstop. From Silicon Val-ley, it’s 20 hours and two stops.

To reach globalaudience, firms aremoving here instead of Silicon Valley

NYC has nearly200 active Israeli techcompanies

by Aaron Elstein

Abig reason executive pay is constantly on the rise isthe tired and easily refuted argument that ifcorporations don’t keep up with the Joneses, they’ll

lose their best people. And some companies are regularlyredefining who the Joneses are.

Exhibit A: Citigroup.The bank is forever fiddling withwhich rivals it compares itself with for the purposes ofjustifying pay awarded to top managers. Gone from its latestlist of peers are American Express, Capital One and U.S.Bancorp, according to the bank’s annual proxy statement,

See ISRAELI STARTUPS on Page 39

CITIGROUPChief Executive

Michael Corbat


W hile many landlords on Sixth Avenue in midtown aretrolling for jumbo-size tenants to fill gaping vacancies intheir properties, Silverstein Properties and CalSTRShave found success focusing on just the opposite at theirjointly owned tower at 1177 Sixth Ave.,at West 46th Street.

The landlords just inked a lease for 15,375 square feet, the 47-story tow-er’s entire 38th floor, with law firm Drinker Biddle & Reath. The deal willdouble the tenant’s space at the property.Two years ago, the firm signed on forthe building’s entire 41st floor.

Law firm doublesits space on Sixth

Unlike the large floor plates ofmany of Sixth Avenue’s behemothoffice properties, 1177 Sixth Ave.’stapering profile offers floors thatslim down from its nearly 30,000-square-foot base to less than halfthat on its upper stories.

Those spaces cater to an abun-dant population of small and mid-size companies. They are far moreactive in the leasing market rightnow than big-block tenants. Withspectacular views, those units alsocommand far higher rents.

Under its new 10-year lease,Drinker Biddle & Reath will pay inthe upper $70s per square foot. Aspart of the transaction, the firm alsoextended its lease for the 41st floor.

“One of the challenges on SixthAvenue is that if you’re a small ten-ant, it’s very hard to find space,” saidJeremy Moss, an executive at Silver-stein Properties who handles leas-ing and represented the landlords.“We have a unique peg in the market,and because of that, leasing is startingto get fast and furious for us.”

Mr. Moss said that he is in theprocess of closing another roughly15,000-square-foot deal for one offive other tower floors that are avail-able.

Jane Roundell and Jeffrey Baker,brokers at Cresa, representedDrinker Biddle & Reath.

—daniel geiger

Gluten-free baker is on a rollGluten-free bakery Pip’s Place willopen a second Manhattan outpost inJune. The Upper East Side-basedbaker has signed a 10-year lease for700 square feet at 127 E. 39th St. Allthe products will be baked at the orig-inal location on First Avenue, be-tween East 89th and 90th streets.

Jordan Lerner and Howard Aaronof Square Foot Realty representedbuilding owner H&M (NY) Realty,while Mary Hall Mayer of HalsteadProperty represented Pip’s Place.Thespace has been vacant for a few years.

Gluten-free foods have becomehot commodities in recent years.Because the foods at Pip’s Place aresafe for people with any level ofgluten intolerance, the Upper EastSide bakery has become somethingof a destination.

Owner Denise Cumming“wanted a more central location sopeople who need her products don’thave to go to the Upper East Side,”Mr. Lerner said.

—ali elkin

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REAL ESTATE DEALS

401 PARK AVE. SO.ASKING RENT; TERM:$53-$60 per squarefoot; 10 years

SQUARE FEET:42,200

TENANT; REP: VitechCorp.; Dennis Someckof Lee & Associates

LANDLORD; REPS: Meringoff Properties;in-house representation by Mark S. Steinand Jason Vacker

BACK STORY: The systems-engineeringand architectural-software solutionsprovider renewed and extended its leasefor its global headquarters.

519 EIGHTH AVE.ASKING RENT; TERM:$40 per square foot;11 years

SQUARE FEET: 9,000

TENANT; REP: LegacyBuilders; MichaelFrantz of NewmarkGrubb Knight Frank

LANDLORD; REPS: KaufmanOrganization; in-house representation bySteve Kaufman and Barbara Raskob

BACK STORY: The general contractingfirm will craft its own space at its newhome in the 26-story building, whichreached full occupancy with this deal.

30 BROAD ST.ASKING RENT; TERM:$34 per square foot;10 years

SQUARE FEET: 8,600

TENANT; REPS: FirstChinese PresbyterianCommunity Affairs;Marc Shapses and

Nancy Weinstein of Studley

LANDLORD; REPS: Gotham RealtyHoldings; Richard Doolittle and John P.Howard of Murray Hill Properties

BACK STORY: Nonprofit will move to theArt Deco building from Hudson Square,according to The Commercial Observer.

BARE BONES



Business groups nonethelessassailed the tax’s continuation asthe wrong message to send to “thepeople who contribute most to thestate’s economy,” in the words ofPartnership for New York CEOKathryn Wylde. The Business Coun-cil of New York State applaudedthe budget’s timeliness and smallgrowth but griped that it will addto the cost of doing business. Evenprogressive-taxation advocateslike Ron Deutsch of New Yorkers forFiscal Fairness called the tax tin-kering “political” and impractical.

“Had the revenue from the ex-tension been earmarked to supportmany struggling and underfundedservices, I could understand theneed to do it now,” Mr. Deutschsaid. “But instead the money hasbeen earmarked for [$350] elec-tion-year rebate checks to familieswith incomes up to $300,000.”

Meanwhile, Republican legisla-tors claimed to have phased out the18-a utility assessment, eventhough the budget extends by threeyears those energy taxes, whichwere about to expire. And Democ-rats cheered the increase in the min-imum wage to $9 from $7.25, eventhough the hike will be spread overthree years and excludes tippedworkers in the service industry.

Business groups and laborunions alike took issue with thepoliticians’ claims. The formerwanted the 18-a assessmentphased out this year, while the lat-ter had demanded the minimumwage be indexed to inflation and tojump to $9 immediately.

Liberal groups were also blind-

sided by the exclusion of tippedworkers. But the point may be-come moot if Mr. Cuomo’s De-partment of Labor directs the statewage board to raise tipped workers’wages later in the year, as somesources speculate will happen.

Still, grumblings from the busi-ness community, which for twoyears lauded Mr. Cuomo as a fis-cally disciplined manager, couldamplify if the governor continuesto tack left in advance of his 2014re-election bid.

“All these business leaders aremore concerned about the pocketsof their board members than thegrowth of the businesses theyclaim to represent,” one budget-watcher snapped.

At press time, budget bills werestill being printed and detailshammered out. But while advo-cates and lobbyists will inevitablyfind things to pick apart in thebudget, some Albany observers fo-cused on the big picture: that of anearly, relatively drama-free spend-ing deal in a state that was for yearsa scene of chaos at budget time.

“I actually think people are be-ing hypercritical,” said one veteranof Mario Cuomo’s administration.“Compared to the last 30 years,thisis truly remarkable. It was on time.It was orderly and collegial. Andspending levels are below the rateof inflation.”

As for the lawmakers’ claims,the source added, “The fact thatthere’s something in the budget foreveryone is actually the key to it.Everyone has to walk away a win-ner, or it doesn’t get done.” �

To Gov. Andrew Cuomo and Senate and Assemblyleaders, the state budget deal reached last week isabout punctuality and tax cuts.To the business

community, it’s about squandered opportunities and taxhikes. And to budget watchdogs, it’s about poor planning.

Even though the budget deal extends the income-taxsurcharge on New Yorkers earning more than $1 million, Mr.Cuomo is touting a “net tax cut” based on the $300 million inrebate checks the state will send middle-class parents and$350 million for businesses to hire veterans and teenageseasonal workers.The $650 million total eclipses the $500million in net revenue from the millionaire’s tax extension.

Anchin, Block & Anchin LLP Accountants and Advisors

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Budget in eyes of beholders

THEINSIDERby Andrew J. Hawkins

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Crain’s Insider, our award-winning politics newsletter, is now a blog. Read it every day at www.crainsnewyork.com/insider

JARRING DEBATE:Tipped employeeswere an unexpectedsticking point in theminimum-wage fight.



Yes, she’s one smart cookieGirl Scout uses her savvy to become top seller

Olivia Crenshaw, 11, doesn’t shy away from thehard sell. ¶ Sometimes after class at the all-girlsChapin School on the Upper East Side, the fifth-grader will head to the boardroom at real estatefirm Jones Lang LaSalle.There, she presents topotential clients and, with her winning smile,closes the deal for the Girl Scouts. “I say, ‘Fiveboxes only cost $20. Can I help you pick out yourfive boxes?’ My dad calls that a presumptiveclose.” ¶ This year, Olivia is the top cookie-selling Girl Scout in New York City. Evenhealth-conscious New Yorkers can’t say no:TheScouts will gladly send cookies to troopsoverseas, she helpfully suggests. ¶ Being the bestisn’t easy in New York, where 26,500 girls ages 5through 17 sold 1.2 million boxes of cookies lastyear.That’s an average of 45 boxes per GirlScout. Olivia sold 1,812. Her success is no fluke.She was the cookie queen in 2011, too: 1,651

boxes. ¶ Olivia has become a fixture in herfather’s financial services firm during the cookie-selling month of December. She drops boxes ather mixed-martial-arts class, sells to restaurants,cold-calls cleaners and, dressed in her green vestand sash, pitches parents in Central Park on thecookies delivered worldwide each March. ¶ “It’shard to go door-to-door in my neighborhoodbecause there’s doormen,” she said. ¶ Her biggestclient this year was Mitti Liebersohn, a real estatebroker who purchased 155 boxes. “A lot of peoplelike to buy from a successful seller,” Oliviaexplained. “That helps me.They know I’mserious and that I’m the one to trust.” ¶ Over theyears, she has won two iPads, season tickets toSix Flags and a Wii. But it’s the thrill of victorythat feeds the fire in her belly. “It’s not about theprizes,” she said. “I feel more that I just want tobe the top seller.” —annie karni

GOTHAM GIGS

Cookiebuyers‘know I’mseriousand thatI’m theone totrust’

Brain & BehaviorResearchFoundation: Dr.Jeffrey Borenstein, 54,was promoted topresident and chiefexecutive. He waspreviously actingpresident and chief

executive.Big Brothers Big Sisters of New YorkCity: Wendy DeMarco, 44, waspromoted to chief marketing officer atthe nonprofit. She was previouslydirector of marketing.Gerri Thomas, 30, joined as director ofcommunications. She was previouslyan adjunct professor, Englishinstructor and tutor for the Englishdepartment and Office ofInstructional Support at the CityUniversity of New York, College ofStaten Island.Resonate: Marc Johnson, 42, joined theadvertising and marketing firm aschief marketing officer, a newlycreated position. He was previouslyprincipal at Storyline Development,which he co-founded.eXelate: Khurrum Malik, 38, joinedthe smart-data and analytics companyas chief marketing officer, a newlycreated position. He was previouslyvice president of marketing atcomScore.

Empathica: BrandiSmith, 35, joined thecustomer-experiencemanagementcompany as directorof marketing. Shewas previouslydirector ofmarketing

communications at PointClickCare.Insite Security Inc.: ChristopherFalkiewicz, 58, joined the security andrisk-management firm as chieftechnology officer. He was previouslyNortheast manager at BrukerDaltonics.CarrotNewYork: Julie Livingston, 54,joined the advertising and marketingfirm as senior director of clientdevelopment. She was previouslydirector of business development andaccounts at Child’s PlayCommunications.Kaled Management Corp.: Hak BinAhn, 35, was promoted to director ofsales and leasing, a newly createdposition, at the real estate firm. Hewas previously a broker.McKissack & McKissack: Steven Allen,48, joined the construction companyas director of preconstruction. He waspreviously project manager at Kel-Mar Designs Inc.

LPCiminelli: CherylMarraffino, 52,joined theconstructioncompany as directorof businessdevelopment, anewly createdposition. She was

previously director of businessdevelopment at Skanska USABuilding.Direct Edge: Drew Carey, 35, joinedthe financial services company asdirector of connectivity market data

EXECUTIVE MOVES

B U S I N E S S

PEOPLE

See EXECUTIVE MOVES on Page 8

4,690Number of new

businesses incorporatedin the Bronx in 2011, up

305% from 1991Source: Center for an Urban Future

THINKINGOUTSIDE THEBOX: OliviaCrenshaw hasn’tbeen afraid to usethe hard sell on herroad to claimingthe title of NewYork’s Girl Scoutcookie-sellingchamp.

buck

enn

is


sales, a newly created position. He waspreviously regional account manager atSIX Financial Information USA Inc.The Related Cos.: John R.S. Jacobsson, 44,joined the real estate management firmas executive vice president, a newlycreated position. He was previously apartner at AREA Property Partners.Hudson Meridian Construction Group:Noel Hayes, 56, was promoted to seniorvice president. He was previously vicepresident of construction services.Robert Schwartz, 54, joined as vice pres-ident, a newly created position. He waspreviously project executive at PlazaConstruction.

Red Peak Branding:Gavin Manley, 38,joined the advertisingand marketing firm ashead of businessdevelopment, a newlycreated position. Hewas previously headof business develop-

ment at Laird + Co.Daniel Galdamez, 29, joined as seniordesigner, a newly created position. Hewas previously senior designer at John-son & Johnson.Swig Equities: Anthony Zografos, 45,joined the real estate investment,development and management firm asvice president of property management.He was previously general manager atEquity Office Properties.Kevin Martin, 35, joined as director ofengineering services. He was previouslychief engineer and assistant buildingmanager at Jack Resnick & Sons.The New School: William Milberg, 55,was promoted to dean of the School forSocial Research at the university. He waspreviously professor of economics andchair of the economics department.

Cooley: Michael Faber,61, joined the law firmas a partner. He waspreviously a partner atWilson SonsiniGoodrich & Rosati.Loeb & Loeb: JonathanRikoon, 58, joined thelaw firm as a partner.

He was previously trust and estatesgroup chair at Debevoise & Plimpton.Cristine Sapers, 49, joined as a partner.She was previously counsel at Debevoise& Plimpton.Milbank Tweed Hadley & McCloy: DouglasLandy, 45, joined the law firm as apartner in the leveraged finance andfinancial regulations practice groups. Hewas previously head of the U.S. financialservices regulatory practice at Allen &Overy.SBLM Architects: Thomas Lopes, 30, waspromoted to associate at the architecturefirm. He was previously project manager.

IA Interior Architects:Ginger Gilden, 43,joined as seniordesigner, a newlycreated position. Shewas previously seniorassociate at SwankeHayden Connell.Harlem Lofts: John

Crafton, 35, joined the real estate firm asan associate broker. He was previouslyan associate broker at Nest SeekersInternational.Bright Line: Michelle Hinchey, 25, waspromoted to publicist at the advertisingand marketing firm. She was previously amarketing and communications specialist.

—eva saviano

CORPORATE LADDER EXECUTIVE MOVES

WELL VERSED IN SOCIAL-VIDEO LANGUAGESTO BE HEAD OF FINANCE for a social-video site with 15 million users and 93 million unique monthly visitors meansbeing able to speak three “languages”: business, media and people, said Mark Pinney, the new chief financial officerfor Vimeo, owned by IAC/Interactive Corp. It also helps to have electrical engineering and M.B.A. degrees, which havehelped Mr. Pinney, 55, generate revenue for the site while introducing cool features like a “tip jar” that allows viewers todonate to videographers. He is, of course, planning more elements.

“You could conceive of a sponsor developing a creative video that is just as compelling as other users’ content onthe site, creating a revenue model that adds value for the user,” said Mr. Pinney.

Mr. Pinney founded Acorda Therapeutics Inc. and was CFO at Tacoda, the first behavior-targeting ad network, whichwas sold to AOL in 2007. Most recently, he was CFO for Lot 18, a subscription wine service.

“We’re developing two nascent models: subscription and advertising,” said Mr. Pinney of Vimeo. “In somerespects, it’s a very clean mandate. It’s a huge market, and there’s real dynamism in our opportunities. Both Googledata and comScore show great growth and traction, but we have a huge distance to go.”

Continued from Page 7

EXECUTIVE PROMOTIONS

The fastest way to get an announcement intoCrain’s is to submit online. Fill out the form at www.crainsnewyork.com/section/executive_moves. The Executive Moves columnis also available online.


—EVA SAVIANO


IN THE BOROUGHS MANHATTAN

stage raids to fine or weed out foodvendors who flagrantly break thelaw. Meanwhile, activists are pro-posing control measures rangingfrom painting slots on the sidewalksto deal with overcrowding to imple-menting a lottery to ration scarcespace.

“These folks are like bees in ahive,” said David Gruber, chair ofthe community board. “We are notanti-vendor, but we are saying weneed sensible regulations.”

For openers, he wants to bringback the Street Vendor ReviewPanel, a committee formed by May-or Rudy Giuliani in 1995 to reviewand restrict the growing number ofstreet vendors, which currentlynumber 13,000 across the city.In thedozen years that the panel has beendormant, there has been little polic-ing of vendors, Mr. Gruber noted.

Skirting the rulesAlong the busy stretch of Broad-

way in SoHo—one of the city’shottest retail strips—residents com-plain that carts are often left outovernight so owners can save primespots for the next day’s business,something that is barred by city reg-ulations. Similarly, though vendorsare not permitted within 20 feet of

retail businesses and 10 feet of resi-dences, many infringe on the rule.

Mr. Gruber noted that one foodtruck now regularly parks on top ofa West Houston corner extensionthat CB2 lobbied heavily to have in-stalled a coupleof years ago tocreate moresidewalk space.

“What itreally comesdown to is thatthe city of NewYork has lookedthe other way onthis,” said BobEly, chair ofCB2’s environ-mental commit-tee. Even worse,he noted, theCity Council re-cently passed a bill to decrease ven-dor fines.

A Bloomberg administrationspokeswoman, however, insistedthat the city is working with thecouncil on vendor laws. In a writtenreply to questions about the situa-tion on lower Broadway and calls byCB2 for stricter policing, she said:“We have made progress on reform-ing these laws and will continue towork with our city agencies to im-

prove quality-of-life issues relatedto vending in our city.”

Determined to take some action,local City Council member Mar-garet Chin late last month success-fully pressed the DOH to perform asweep of Broadway in the early-morning hours that found 20 mo-bile food-vending carts to be in vio-lation of rules prohibiting overnightparking. As a result, the agency is-sued 25 Environmental ControlBoard summonses.

“The overwhelming number ofmobile food vendors on the Broad-way corridor is a chronic quality-of-life issue,” said Ms. Chin in a state-ment.

Hordes of touristsOwners and operators of the

carts, and their defenders, take a de-cidedly different view. Sean Basin-ski, a director at the Center forUrban Justice’s Street Vendor Pro-ject, a vendors’ rights advocacygroup, said the problem of noise andcongestion in the area has a lot lessto do with vendors than with thehordes of tourists flocking to placeslike Old Navy and Uniqlo. He alsosaid that most people have no prob-lem with the carts on Broadway.

“It’s just a few rich people wholive in SoHo,” said Mr. Basinski.“I’m sorry they live in an area thathas become a busy shopping districtand are taking their aggressions outon vendors.”

Be that as it may, it’s a scene artteacher Mr. Davis wants no part ofanymore.He has taken to fleeing hisneighborhood on Saturdays.

“I just want to be away,” he said.“It’s painful to walk through thestreets.”

It may come as little consolation,but some of the vendors themselvesare complaining these days. MaxCabral, who has had a jewelry carton Broadway for five years, reportsthat business is way down. Beforethe recession, he said, he might takein as much as $1,000 a day.Now he’slucky to get $200 for his jade-en-crusted rings and bangle bracelets, adrop-off he attributes to peopleshopping less.

“It doesn’t pay to be out here,” hesaid, noting that he also has to dealwith shoplifters and foul weather.“It’s an everyday struggle.” �

Bingeing on B’way


QUEENS

Flawed bridge fix-up divides areaTwo years after a $3.9 million effortwas launched to repair the 149thStreet Bridge over the Long IslandRail Road tracks in Flushing, workwas finally completed in 2012.

What upsets local business own-ers and others is that the concretebarriers blocking either end of thespan are still in place. Among thoselooking for answers is state Sen.

Tony Avella. He was told by the cityDepartment of Transportation thatthe bridge, which runs over theLIRR’s Port Washington line nearthe Murray Hill station, is unsafe forcar traffic.Given that it connects lo-cals in Flushing to the mom-and-pop shops along 41st Avenue, that isa problem.

Though the bridge has since re-opened for pedestrians, no date hasyet been set for vehicles.

“At this point, they should havesome sort of an idea of how they’regoing to resolve this,” said Mr.Avella.

What DOT is saying is that it isconsidering legal action against thedesigner of the project,but that is un-likely to get the span back in action.

—cara eisenpress


FROMAROUNDTHE CITY

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FFor about 20 minutes lastNovember, Erica Berthou was lost in the Borneo jungle with herbrother.They were amateurcompetitors in the SabahAdventure 100k Ultra Marathon,a 19-hour race. But she refused togive up. “I knew I was in secondplace, and there was no way I wasgoing to let anyone pass me,” said themother of two. She finished secondamong women, 17th overall.

She brings the samedetermination to everything shedoes. One of the few women inprivate equity law, Ms. Berthou has already made her mark: She’sadvised clients on raising morethan $30 billion in private equityfunds, and is the Carlyle Group’sgo-to lawyer for setting up funds in emerging markets.

Growing up in Sweden, Ms. Berthou was a competitive horseback rider poised tojoin the national team. Instead she followed her hero—her dad—and became a lawyer.

She was at a small Stockholm firm when a client joined a private equity consortium.Debevoise & Plimpton LLP represented another investor in the group.The New Yorklegal team noticed her immediately. “Here was this superstar junior associate who hadnever done this before, but it was like working with one of our own people,” said RebeccaSilberstein, a partner at Debevoise. “You know how someone can be like a lightbulb in a room? Forget the bulb. Erica is like the sun.”

Ms. Berthou accepted the job at Debevoise having never beento New York City. “We wanted an adventure,” she said, adding thather husband, who is from Zimbabwe, was through with Stockholmwinters anyway.

“Given the choice between doing something where nothing is atstake, or where there’s a lot at stake, I’ll always choose the risk,” shesaid. “It’s what energizes me.”

—hilary potkewitz

®

VOL. XXVIII, NO. 13 WWW.CRAINSNEWYORK.COM MARCH 26-APRIL 1, 2012

EDITOR’S NOTE

25 is the new 40Welcome to Crain’s annual “40 Under 40” list.Every year for the past 25 years, Crain’s hasbeen identifying 40 of New York’s mostambitious young achievers.This year is noexception. Inside this report, readers will findconcise profiles of talented individuals whorepresent the best of what this city’s businesscommunity has to offer.

This year’s group includes techentrepreneurs, nonprofit leaders, political go-getters and real estate mavens who arerebuilding New York after three years oftroubled economic times. Our honorees sharean intense passion about their careers, they aretireless cheerleaders for their industries, andthey pursue their goals with tenacity.

We received nearly 700 nominations forthis year’s list. Choosing the winners is aprocess that takes more than three months ofcareful review and reporting. It is a challengethat our editorial staff takes seriously. Onceagain, we believe we have honored 40 of themost deserving individuals. We hope you enjoyreading their stories as much as we enjoyedwriting them.

valerie block,Deputy Managing Editor

Reprinted with permission from Crain's New York Business. © 2012 Crain Communications Inc. All Rights reserved. Further duplication without permission is prohibited. Visit www.crainsnewyork.com. #NB12-012

www.crainsnewyork.com/40under40

Photography by Buck Ennis

Erica Berthou, 36Partner, 40UNDER

Forty2012

CRAIN’S NEW YORK BUSINESS

NEW YORK’S R I S I N G S TA R SLawyer courts life on the edge

WHO KNEW?

EricaBerthou istraining foran Ironmancompetition




She was at a small Stockholm firm when a client joined a private equity consortium.Debevoise & Plimpton LLP represented another investor in the group.The New York

®


EDITOR’S NOTE


This year’s group includes techentrepreneurs, nonprofit leaders, political go-getters and real estate mavens who arerebuilding New York after three years oftroubled economic times. Our honorees sharean intense passion about their careers, they are




Forty2012



Does a 40 Under 40 work for your company?

It’s OK to brag! This is a great accomplishment you should be proud of, let the

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—hilary potkewitz

®


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WHO KNEW?








—hilary potkewitz

®


EDITOR’S NOTE









Forty2012



WHO KNEW?


CROWDED SPACES:Vendors crowdsidewalks alonglower Broadway tothe dismay of arearesidents.

2001LAST MEETINGof Street VendorReview Panel

13KSTREET VENDORS in NYC

150VENDORS onBroadway in SoHoin peak summermonths


OPINION

Every month, new employment statisticsroll in and are dissected by economistsand spun by politicians and activists. It’stricky to separate the facts from the noise,but there is value in the data.They tell usthat the national economy is gainingsteam, but too slowly for most folks’

liking.They also show that while New York City’sunemployment rate is about a full percentage point higherthan the nation’s, our local economy recovered more quicklyfrom the recession and continues to add jobs at a faster ratethan other metropolitan areas do.

One can look at the statistics and see a validation ofGotham’s superiority. Even with the shrinkage of WallStreet in the last several years, New York has outperformedthe nation in job creation, thanks to growth in technology,hospitality and other industries. A record 52 million touristsvisited last year, a result of New York’s unmatched cultureand low crime rate (not to mention new, modestly pricedhotels in the boroughs and the rise of Internet booking).Silicon Alley is surging, and smaller tech companies havealso sprung up in neighborhoods like Brooklyn’s Dumbo.There’s a boom here in higher education, too, as colleges anduniversities create and expand campuses. Even some smallmanufacturers are thriving, beating on the doors of theBrooklyn Navy Yard and any industrially zoned propertiesthat might have affordable space available.

In many ways, New York is a model for American cities. It

is diverse, dynamic and safe. Its social life and arts scenedraw talent from far and wide. Its transit system connectsinnovators and welcomes immigrants, who are more likely tostart businesses than homegrown Americans are.

But while New York may be a paradigm, remember that itbenefited disproportionately from the government bailout ofthe financial industry.There’s nothing like a few hundredbillion dollars to help a place recover. And bear in mind thatthe strategy of attracting smart, entrepreneurial people—asSan Francisco, Boston, Austin and a few other places do—isnot scalable nationwide. Not every place can import a

creative class.Ultimately, cities

must grow their own.New York, too. Butthere is reason forconcern. Nearly 80% ofcity high-schoolgraduates arriving atCUNY communitycolleges need remedialcourses.The poverty

rate, almost 21%, is trending up. A skills gap traps many inlow-wage jobs. For every Fort Greene, where cafés havereplaced crack houses, there’s a Brownsville wallowing indespair. Solutions have been maddeningly elusive.

So yes, bring the data:They show us where we’re failing.But, alas, not always how to succeed.

Beyond the jobs boom

Despite thecity’s success,swaths ofpoverty remain


BILL’S BACKERS RESPONDThose who trivialize the needfor paid sick days, dismissing itas time off to care for “a friendwith the sniffles. Maybe even apet with separation anxiety”(Editorial, March 4), shouldchange places with the low-wage working mom whoknows that staying home withher little girl running a highfever puts her job on the line.

They can talk to more thana million others—most of themlow-wage workers—who aredenied even a single day of paidtime off when illness strikes.

For the record, the bill limitsthe use of paid sick time tocaring for one’s own health oran immediate family member.

—nancy a. rankinVP, Community Service Society

Crain’s March 18 editorial,“Meet the sick-days police,”complains that the paid-sick-days bill contains provisionsthat allow the city to enforcethe law. Yet there wouldn’t be

much point in passing a lawwithout some way to enforce it.

The original bill containedno administrative remedy.Theonly option was to sue. Inresponse to concerns frombusinesses and workers thatcourt action would be expensiveand cumbersome, the bill wasamended so complaints couldbe filed with a city agency. NYChas no labor department, soHealth was the logical choice.

The bill’s enforcementscheme is like that of myriadother city laws except that thesick-day fines are much lower.It mimics paid-sick lawsthroughout the country thathave triggered few complaintsand even fewer fines becausemost complaints are resolved.

All New Yorkers deserve thefew paid sick days this lawwould give—and if the law isviolated, it is only right thatthere be some way to enforce it.

—sherry leiwantMs. Leiwant is co-president of ABetter Balance, a team of lawyers

supporting workers’ causes.

SCAFFOLD LAW MUST FALLAs an attorney who hasrepresented many scaffold andhoist companies over the past20 years, I believe it is hightime for the Legislature tonarrow the broad scope of thescaffold law (“Builders, insurersstepping up effort to dismantlescaffold law,” March 18).

A worker claiming an injuryresulting from a height-relatedincident should be heldresponsible for his owncomparative negligence. If anowner or contractor is liable foran accident, even without thisstatute’s protection, a jury willlikely assess liabilityaccordingly. Similarly, if aworker is responsible for hisaccident, a jury should bepermitted to consider hisactions and not allow the trialto be only about damages.Illinois revoked a similar statue;it is time for New York to revisethis 19th-century relic.

—joseph a. frenchFrench & Casey

CRAIN’S ONLINE POLL

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711 Third Ave., New York, NY 10017-4036editorial phone: 212.210.0277fax 212.210.0799Entire contents ©copyright 2013 Crain Communications Inc.All rights reserved. ®CityBusiness is a registered trademarkof MCP Inc., used under license agreement.

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bloo

mbe

rg

43%Yes

57%No

SHOULD THE CITY BAN THE DISPLAY OF TOBACCOPRODUCTS IN STORES?� Yes. Smokers will still know where to gettheir cigarettes, but others won’t be astempted to buy them. � No. Banning the display of legal products isa bossy government effort to save us fromourselves.155 votesDate of poll: March 19



of other rapid-fire developmentsmay have made the past two weeksa decisive one in the mayor’s race.

Let’s start with the GOP. FormerMTA Chairman Joe Lhota proved hecan quickly raise enough money torun a credible campaign. Tom Allonand George McDonald showed theycan raise absolutely no money. Mr.Allon dropped out. Mr. McDonaldvows to soldier on,but primary voterswon’t waste their ballots on someonewho will effectively concede the bigrace before it starts.He, too,will haveto pull out—sooner rather than later.

Meanwhile, even the Bronx Re-publican Party abandoned formerBorough President Adolfo Carrión,making it unlikely that he will getthe nod from the three county chair-men he needs to even have his name

listed on the Republican ballot.So the GOP primary comes

down to Mr. Lhota and supermar-ket magnate John Catsimatidis.Mr.Catsimatidis has the financial re-sources to do whatever he wants and

can make life difficult for Mr.Lhota. But virtually everyone whohas talked to me about the Crain’sGOP debate earlier this month hasremarked unprompted on how Mr.Catsimatidis simply doesn’t seem tounderstand the issues and can’t holdhis own in a public forum.

As for the Democrats,what makesthe NYPD inspector general issue soimportant is that it highlights a grow-ing concern about Ms. Quinn: thatshe is a politician first,last and always,without bedrock principles.Her sup-port for a Police Department IG isdesigned to make sure her rivals don’toutflank her on the left.It is also a flip-flop from her position of only a fewweeks ago that she wanted Ray Kellyto continue as police commissioner,which he can’t do now because he bit-terly opposes the IG concept.

The WNBC report also raiseddoubts about Ms. Quinn’s commit-ment to doing everything possibleto keep reducing crime. Thus, thereaction of my partner, which wasechoed by many others.

The result: Former City Comp-troller Bill Thompson has been look-ing for a way to seize the moderateposition among the Democrats.Thisgives him that opening. And Ms.Quinn has made Mr. Lhota’s corepitch to voters—that the city’s gainsof the past 20 years are “fragile’’ andthat no Democrat can be trusted topreserve them—much more credible.

What will happen next in this in-teresting and important campaign?

Shapeshifting racetakes another turn

Then they entered the labor mar-ket, pumping vast sums into retire-ment plans such as Social Securityand Medicare. Since these programsare basically pay-as-you-go, financ-ing them seemed pain-free.

Now the first of the boomershave retired, and there are fewer ac-tive workers to support them. Nowthere is stress, and it is growing.

These same demographic factorsare putting pressure on state and localgovernments. These entities findthemselves with large numbers of re-tirees drawing pensions and (for mostof them) deeply subsidized retireehealth care.These costs have reachedpunishing levels and are squeezingfunding for basic public services andgenerating pressure to raise taxes.

Accounting standards require thatpensions be funded using actuarialprojections, but not retiree healthcare. The unfunded cost of these fu-

ture health care obligations is hugeand growing rapidly—an estimated$83 billion for the city’s public work-ers,$56 billion for the state’s employ-ees and $200 billion in the state as awhole.Those are massive goats.

One obvious question is why,giv-en the passage of Medicare in 1965,we offer retiree health plans at all. A

large part of the answer lies in thefact that so many public workers re-tire well before age 65,the time whenthey become eligible for Medicare.Public-employee pressure, throughtheir unions, has led to governmentsin this state and elsewhere providingcoverage to early retirees, regardlessof whether they find other jobs.One-third of all city retirees are ear-ly retirees, and their premiums cost$1.4 billion. If these retirees enroll inGHI or HIP plans, they pay noth-ing—zero—for their insurance.

By contrast, in New York state,only 10% of private-sector compa-nies offer health insurance to earlyretirees. And most state and localgovernments as well as private-sector employers require retirees tocontribute to their premiums. NewYork City stands apart in offeringfree care to its early retirees.

Our generosity doesn’t end there.Once our retirees turn 65, the cityplans become supplemental coverageto Medicare.The city reimburses re-tirees and their spouses for the fullcost of Medicare Part B premiums ata cost of nearly $300 million.No oth-er city does this.And very few privateemployers offer health coverage to re-tirees over 65, including only 11% ofprivate employers in New York state.

According to calculations by theCitizens Budget Commission, re-quiring a 50% contribution by re-tirees and eliminating the MedicarePart B reimbursement would savemore than $1 billion a year, growingover time. That would provide vitalbudget relief and would be far fairerto the taxpaying public.

Boomer retiree costsexplode city budgets

Someone once said that the baby-boomer generationwas like a goat swallowed by a python: You could fol-low the goat as it passed slowly through the snake.Andindeed we have. Some 76 million Americans wereborn between 1945 and 1964.

First that crop of kids jammed our elementary schools, over-crowding them until new schools could be built.The story wassimilar for junior highs, high schools and colleges.

A news report on WNBC last week on the spat be-tween City Council Speaker Christine Quinnand Mayor Michael Bloomberg over establishingan inspector general for the New York Police De-partment involved a series of point-counterpoint

clips. At the end, the woman I live with turned to me and said,“And that woman is going to be the next mayor?’’

She wasn’t the only one to think that controversy and a series

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Proponents of the new law wereclearly well intentioned and down-play the threat of lawsuits. Howev-er, they underestimate the creativityof New York’s plaintiffs’ bar! Unfor-tunately for employers, I have everyconfidence that plaintiffs’ attorneyswill find a way to use this new law togenerate new—and expensive—claims. It is equally unfortunate thateven a baseless claim is costly to de-fend,and many business owners feela pressure to settle, even when theyhave done nothing wrong. That isthe hidden cost of a law like this one.

Among other restrictions, thenew law prohibits employers—de-fined as any entity with more thanfour employees—from making anyhiring decision based on an appli-cant’s employment status. The lawcontains some exceptions, such as aprovision stating that employers maygive preference to their own employ-ees in making hiring and promotiondecisions. Employers may also law-fully consider why an applicant lefthis or her prior employer (whether heor she was fired, for instance).

The law permits anyone to file a

civil suit in court or a claim with theCity Commission on HumanRights, a notoriously plaintiff-friendly agency. An employer couldbe liable for damages,including backpay, front pay, a civil penalty of up to$250,000, a fine or injunctive relief.

In a city where many businessesare just now climbing out of the re-cession, recovering from the crisisthat engulfed the financial industryin 2008 and reeling from losses afterHurricane Sandy,one must ques-tion whether theintended benefitsof this legislationwill outweigh thenegative effect onbusiness.

The state’s La-bor Departmentrecently reportedthat private-sec-tor jobs in the citygrew by 2.2% lastyear. Yet the unemployment rate re-mains 9.9%. That means there arehundreds of thousands of unem-ployed individuals in the city. Stillothers have been jobless for longstretches over the past few years orare considered “underemployed”be-cause they are working outside theirchosen profession.This new law willgive all of these individuals a weaponto wield against any company that

chooses not to hire them.This law potentially hamstrings

employers in the hiring process.Imagine the potential land minesthat can occur during the average jobinterview.The interviewer asks legit-imate questions: “Why did you leaveyour last job?” “What have you beendoing for the past 12 months?”“Whydid you spend these months workingin the restaurant industry, and whyare you now looking for an office job

here?” Such com-mon questionsmay open the doorto the rejected ap-plicant arguing heor she was turnedaway because of aperiod of unem-ployment.

And whatabout the many le-gitimate reasonsan employer wouldconsider a period

of unemployment to be relevant tothe job search? Applicants may havemissed out on developments in thefield during a period they were notworking, their skills may not be assharp, or they may not be familiarwith the latest technology. All theseare relevant factors that any compa-ny would want to consider.

In addition, a simple fact is thatemployers want to hire the best per-

son, and the best person often is theindividual who is not actively lookingfor a job but is currently working.Of-ten,the “employed”are the applicantsyou want.Now,under this new law—if all things were equal—an unem-ployed applicant could argue that thisemployer has broken the law.

Could the new law have the un-intended effect of dissuading busi-nesses from even calling in the un-employed for an interview? If Iknow that an unemployed personcan sue me, why not pass on pursu-ing that résumé and interview onlyemployed applicants instead? Thelaw could hurt the people it was in-tended to help.

Employers who are trying to hiremore people could find themselvesspending their time and resourcesdefending against these claims andcharges. Employers’ time and re-sources certainly would be betterspent building their businesses,training their employees and maybeeven hiring new workers to reducethe ranks of the unemployed.

New York can be a great place tobuild and grow a business. Laws likethis, however, could make any busi-ness owner who does not have to lo-cate in New York think twice aboutstarting or expanding a business here.

Barbara E. Hoey is an employment lawyerwho practices in New York.

The City Council this month overrode MayorMichael Bloomberg’s veto and passed a law that pro-hibits employers from discriminating against the“unemployed” when they make hiring decisions. Itgoes into effect in June.New York City has now be-

come the first jurisdiction in the nation to pass a law that will al-low disgruntled job applicants to sue city employers,claiming theywere discriminated against because of their unemployed status.

BARBARA E. HOEY

Unemployed lawworks against biz

OPINION

Attorneys willuse the newlaw to generateclaims


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FLUTIST AND ARTS GAME-CHANGERCLAIRE CHASE: Read all about her and 39 other bright lights in the big city

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NEW YORK’S RISING STARS


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NEW YORK’S RISING STARS ALPHABETICAL INDEX OF THE 40S

DOING THE MATH: 40S BREAKDOWN

Astar chef, a celebrity designer and a real estate mogul share stories abouthow they reached the pinnacle of success before they turned 40. A serialentrepreneur tells how he started his third company before his 25th

birthday.These hotshots and others talk about their individual achievements inoriginal video interviews. See them and mini-clips of all 40 honorees atCrainsNewYork.com/40svideo. Readers can view additional photos and statisticsat CrainsNewYork.com/40under40 and browse our archives of past 40s goingback to 1991, including updates on where they are now.

Also check out in-depth feature stories about our past honorees from our “25Years of 40 Under 40” anniversary issue at CrainsNewYork.com/40anniversary.

40 UNDER 40 ONLINE

Joseph Altuzarra - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 32

Katia Beauchamp - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 22

Piraye Yurttas Beim - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 26

April Bloomfield - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 27

Neil Blumenthal - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 23

Melissa Román Burch - - - - - - - - - - - - - - - - - - - - - - - - - - - - 26

Claire Chase - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 16

Anuj Desai - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 30

Andy Dunn - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 22

Ntiedo Etuk - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 28

Ariel Foxman - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 16

Rob Goldstein - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 18

Christian Goode - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 19

Michael Gross - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 16

Quiara Alegría Hudes - - - - - - - - - - - - - - - - - - - - - - - - - - - - 23

Ieuan Jolly - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 20

Ben Kaufman - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 32

Brooke Lampley - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 32

Michael Lazerow - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 30

Laura Maniec - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 22

Grace Meng - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 28

Brina Milikowsky - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 24

Jon Oringer - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 26

Greg Pass - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 24

Sheila Peluso - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 24

Claudia Perlich - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 34

Rhys Powell - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 20

Marc Ricks - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 27

Zoë Sakoutis - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 19

Manisha Sheth - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 27

Marissa Shorenstein - - - - - - - - - - - - - - - - - - - - - - - - - - - - 20

Barry Silbert - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 32

Lauren Hochfelder Silverman - - - - - - - - - - - - - - - - - - - - - - 34

Ben Smith - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 31

Jason Sobol - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 19

Jimmy Soni - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 34

Adam Spies - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 31

Jessica Tisch - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 31

Joshua Vlasto - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 18

Jed Walentas - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 28

25-30

4

31-35

15

36-39

21

By age group By gender

By industry

23Men

17Women

Legal

Tech

Real estate

Media

Hospitality

Finance

Education

Arts 3

2

4

4

3

5

4

6

2

2Health care

5

Government

Retail

LISTEN to a discussion at CrainsNewYork.com/podcasts

CONTRIBUTORSSECTION EDITOR Valerie BlockPROFILES EDITOR Ron FinkSECTION DESIGNER Carolyn McClainPHOTOGRAPHER Buck EnnisCOPY EDITORS Steve Noveck, Thaddeus RutkowskiVIDEO EDITOR Conor McBrideMOTION GRAPHICS ARTIST Songe RiddleVIDEO Elisabeth Butler Cordova, Buck Ennis,

Ian-Duncan BallSENIOR PRODUCER Elisabeth Butler CordovaWEB DEVELOPER Chris O’Donnell


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BRIDGING OPPORTUNITY BETWEEN EAST AND WEST

The first male managing editor of TimeInc.’s InStyle, Ariel Foxman spends hisdays in the worlds of female appareland celebrities. If Mr. Foxman were a

woman, he would wear minimalist designs byDries Van Noten with few accessories. “I lovefashion, Hollywood and beauty,” he said. “Ilove that each month, 11 million women stoptheir day for at least an hour to sit with ourmagazine and really indulge themselves.”

He took the helm in September 2008 forhis second stint at the magazine. Since then,it has led the fashion and beauty category for mostad pages for fourconsecutive years, from2009 to 2012. Last year,InStyle carried 2,683 ad

pages, up 5.4% from the prior year.TheSeptember 2012 and March 2013 issuesrecorded the largest number of ad pages inthe magazine’s 19-year history—442 and361, respectively—and sold more than700,000 copies each on the newsstand.InStyle also has in excess of 2.3 millionTwitter followers—more than competitorslike Vogue or Elle.

Mr. Foxman’s first job out of college was asan assistant at Random House, where one ofhis colleagues, a former journalist,recommended him as assistant to the editor inchief at Details. After spending almost all hismoney on a Prada belt to appear fashionablefor his interview, he landed the job at theCondé Nast publication. Mr. Foxman alsohelped launch men’s fashion magazineCargo. After it folded, he was recruited aseditor at large for Time Inc.

“He is the smartest kid in the class,” saidMartha Nelson, the editor in chief at TimeInc. “He is very energetic, super-creative andexcited. All the qualities I liked about himwhen he was 25 years old still exist.”

—emily laermer



Musical geniustakes a bowCLAIRE CHASE,34Flutist, founder, artistic director and chief executiveINTERNATIONAL CONTEMPORARY ENSEMBLE

Between the traffic and a curmudgeon yelling at her to leavea Brooklyn stoop, Claire Chasecould barely hear the caller on hercellphone. What the virtuoso

flutist eventually heard one day last September was life-changing: She was award-ed a MacArthur Foundation “genius grant”—$500,000 with no strings attached. “I was indisbelief,” said the Californianative, who began playing theflute when she was 8.

Ms. Chase hasn’t decidedhow she’ll use the money,although she’s ruled out buy-ing material possessions. “I’minterested in ideas that arebold and risk-taking, ideasthat won’t be invested in byother people,” she said.

That’s not surprising. Shefounded the InternationalContemporary Ensemble inChicago after graduating from Oberlin in2001 to create a group of musicians and composersto work collaboratively to expand the canon of con-temporary music.That goes against the estab-lished tradition of musicians playing composi-tions they’ve had no real role in creating. She

moved the headquarters to New York in 2005.Ms. Chase’s success in achieving her vi-

sion, combined with her talent as a musician,has drawn accolades. “Through riveting per-formances, commissioning programs, inter-disciplinary collaborations and educationaloutreach, Chase and ICE convey a passionfor and knowledge of contemporary musicthat prompts audience members to expand

their aesthetic boundaries,”said the foundation in an-nouncing her award.

“Claire has amazing artisticcourage,” said Marcos Balter, acomposer who has workedwith ICE. “She also createdsuch a brilliant model formusicians.”

Ms. Chase started ICEwith about $500, and practi-cally everything was donatedthe first time it performed, in-cluding the musicians’ time

and snacks. It still runs on a shoestring, with abudget of about $1 million. Still, ICE has pre-miered more than 500 pieces, the bulk byemerging composers, in venues ranging fromLincoln Center to small bars and clubs.

—theresa agovino

Michael Gross was set to launch ahedge fund with billionaire RonBurkle just as the economy wascollapsing in 2008. They

scrapped their plan, but Mr. Burkle, founderof investment firm the Yucaipa Cos., stillhad millions to invest.

“Ron gave me a broad mandate to go find an in-teresting investment opportunity,” said Mr. Gross,whose résumé includes big investment firmsand hedge funds. He targeted the struggling,debt-laden Morgans Hotel Group.

It would turn out to be a career-changingmove. In 2011, Mr. Gross became chief executive of Morgans, spearheading a restructuring and growth strategy that wouldreduce its debt from $675 million to approxi-mately $500 million as of late last year andexpand the company’s hotel portfolio.

Morgans operates 14 properties—including the Mondrian and Hudson inNew York and the Delano in Miami. UnderMr. Gross’ leadership, Morgans sold five ofits seven owned real estate assets and signedmanagement deals to open nine more hotelsworldwide.

The hotel business was not entirely for-eign to Mr. Gross, a graduate of the CornellUniversity School of Hotel Administration.

“I traveled a lot growing up, living in

South Africa and Israel,” said Mr. Gross,whose parents ran international apparelbusinesses.

With his boyish good looks, Mr. Grossembodies the image and style Morgans cultivatesin its hip properties, said Robert Friedman, aboard member and longtime media execu-tive. But his youthful appearance didn’t servehim well at the Delano in Miami in 2009,where he was meeting other Morgans direc-tors. He was stopped at the velvet ropes andasked for identification.

“I had to tell the doorman to let Michaelin,” said Mr. Friedman.

—lisa fickenscher

MICHAELGROSS, 37Chief executive MORGANS HOTEL GROUP

‘I’minterestedin boldideas’

—Claire Chase

ARIEL FOXMAN,39Managing editor, INSTYLE


CN015790.indd 1 3/19/13 11:52 AM

Rob Goldstein wanted to pleasehis parents and become a doctor until he discovered in amed-school-track class atBrooklyn’s Midwood High

School that “blood and guts freaked me out.”“It was a good thing to find that out quick-

ly,” he quipped.Plan B, a career in finance, barely got

off the ground. After graduating fromcollege in 1994, he collected a three-inch-thick pile of rejection letters fromall but a small retail brokerage firm inWestchester County and BlackRock,then an unknown bond managementfirm. BlackRock has grown into the world’slargest money manager, and Mr. Goldstein hasrisen with it ever since.

After helping create and build the divisionthat advised the U.S. government on howto auction off junky mortgage-backed securities inherited fromAIG, Mr. Goldstein lastsummer added to his portfolioBlackRock’s business thatadvises such clients as theworld’s largest pension funds.In all, he supervises 1,425people who generate $3.3billion in annual revenue.

“Rob has the potential to runthe firm one day,” said CharlesHallac, BlackRock’s chiefoperating officer, who hired Mr.Goldstein straight out of SUNY-Binghamton at age 20.

Mr. Goldstein—whosehandwriting is typewriter-perfect—admits to being a stickler foridentifying solutions to knottyproblems, whether it’s helping UncleSam manage a complex investmentor figuring out the best way toprepare a latte.

“I’ll watch the Starbucks baristasand see 10 things they could dodifferently,” he said.

—aaron elstein



JOSHUAVLASTO, 31Chief of staffGOV. ANDREW CUOMO

It was a quiet evening at East Side barO’Neill’s, but Joshua Vlasto was on alert.

“I’m going to take a BlackBerrybreak, if you don’t mind,” he announced

before firing off a few emails. It was fiveminutes into the interview.

In part because of Mr. Vlasto’s vigilance,the approval ratings of his boss, Gov.Andrew Cuomo, have been stratospheric fortwo years. During that time, Mr. Vlasto hasgained a reputation as combative toward anyonewho might derail the governor’s agenda.

“The New York press is the toughest presscorps in the country, and we’re dealing with adesire to sensationalize in order to get Webtraffic,” Mr. Vlasto explained. “I see it as myjob to block that on behalf of the governor.”

Politics is in his blood. Mr. Vlasto wasraised by hismother, CarolOpton, aconsultant toformer Gov.Hugh Carey.His father,James Vlasto,was Mr.Carey’s presssecretary.Joshua Vlastobegan hiscareer as apolicy aide toSen. Charles

Schumer and was later named his presssecretary.The Cornell alumnus developed azeal for policy detail, which helps explain hisrecent promotion from top spokesman toMr. Cuomo’s chief of staff.

“He can debate anything,” said RichardBamberger, Mr. Vlasto’s former boss in theCuomo press shop.

Mr. Vlasto’s proximity to the governorhelps him pursue personal causes. Alongtime O’Neill’s patron along with hiswife, Megan, Mr. Vlasto had become close toowner Ciaran Staunton, whose 12-year-oldson died of sepsis last year. With a push fromMr. Vlasto, Mr. Cuomo in January mandateda sepsis-detection protocol to ensure thathospitals are hypervigilant. It’s a trait Mr.Vlasto knows well.

—chris bragg

ROB GOLDSTEIN,39Senior managing directorBLACKROCK

‘The NYpress is thetoughest in thecountry’

—Joshua Vlasto

Running with

20130325-NEWS--0018,0019-NAT-CCI-CN_-- 3/21/2013 2:33 PM Page 1

the bulls

Partying too much turned out to be agood thing for Zoë Sakoutis. Whileworking in Manhattan as a hotelbartender in her early 20s, she con-

cocted juice cleanses to make herself feelbetter. In just six years she transformed her reme-dies made out of parsley, kale, lemon and other rawingredients into a $20 million company called

BluePrint, which now has juice facilities inLos Angeles and Long Island City, Queens.

The juices are sold in Whole Foods storesacross the country as well as shipped directlyto customers who use them as cleanses andpay about $195 for a package of 18 juices—ora three-day supply. In December,conglomerate Hain Celestial Group acquiredBluePrint for an undisclosed amount.

The juices are already popular with thecelebrity set—Sarah Jessica Parker, BlakeLively and Kim Cattrall are customers. HainCelestial will increase the number of retailoutlets for BluePrint and help expand thebrand into other products.

Ms. Sakoutis said she was first introducedto the raw-food movement more than adecade ago “by a former hippie boyfriend.”

She later studied juice-making and itsmedicinal purposes at a health institute inPuerto Rico, adopting a diet of onlyuncooked vegetables, fruits and nuts. “It wassort of miserable and a horrible way to live,”she said, but it also taught her “how to useraw foods as a tool.”

BluePrint is a trailblazer in the juiceindustry, credited with being among the firstto develop a program for people to use juicesas a liquid diet over several days.

“Zoë had a vision of what this was going to besince day one,” said Erica Huss, vice presidentof BluePrint and Ms. Sakoutis’ first businesspartner in the company. “She had no formalbusiness training, but she has tremendousinstincts.”

—lisa fickenscher

ZOË SAKOUTIS, 34Founder and presidentBLUEPRINT


When Jason Sobol graduatedfrom Harvard with a bache-lor’s degree in economics,he had two ideas aboutwhat might come next. One

was to move to Los Angeles and pursue hisdream of becoming a singer-songwriter.Theother was to put his degree—and his interestin finance—to the best use possible and for-get about being a full-time piano man.

He joined the mergers and acquisitionsgroup at Goldman Sachs. Soon he gothimself transferred to L.A., where he couldfocus on media and entertainment deals.From there, he moved to online music serviceLaunch.com, attempted his own artmarketplace startup, and worked oninvestments and acquisitions forentertainment mogul Marvin Davis.Then anoffer to help build the media andinformation business at investment-bankingadvisory firm Evercore Partners brought theLong Island native home.

It never hurt that he was a musician atheart. “Clients appreciate out-of-the-boxthinking,” Mr. Sobol said. “Coming froma love of music—of improvisation andjazz—it’s in my blood to think creatively.”

Deals he has worked on over the pastnine years have brought togetherFactiva and Dow Jones, BusinessWeekand Bloomberg, and McGraw-HillEducation and Apollo GlobalManagement.

Mr. Sobol has also developed areputation for paying close attention to theclient. “He is kind of the antidote to allthe well-deserved skepticism aboutinvestment bankers,” said his boss,

Evercore Senior Managing DirectorJonathan Knee. “He’s both brilliant and

empathetic, in a way that is unnerving toclients who have come to hold theirwallets every time an investment banker

walks into the room—even when it’s onewho’s supposed to be working for them.”

—matthew flamm

JASONSOBOL,37Senior managing directorEVERCORE PARTNERS

25are

married

2are

engaged

19have

children

2have kidson the way40UNDER

FortyFACTS

CHRISTIANGOODE, 37CFO and senior vice presidentof development, RESORTSWORLD CASINO NEW YORKCITY–GENTING AMERICAS

Christian Goode never aspired to bea lawyer, but he’s sure glad hisfather insisted 15 years ago that hebecome one.

“I use my law background on a dailybasis,” said Mr. Goode, who graduated witha joint J.D./M.B.A. degree from the StateUniversity of New York at Buffalo.

Working in the highly regulated gamingindustry, Mr. Goode is conversant with the multi-tude of regulatory, legal and accounting issues thatcrop up daily in his role overseeing the first casinoin New York City,located at theAqueductRacetrack inQueens. He isalso responsiblefor develop-ment opportu-nities in theU.S. forMalaysiancompanyGenting,which ownsthe casino andbought real es-tate in Miamiand Las Vegas.The Sin City project will be alarge casino opening in 2016.

“CFOs at other gaming companies are notyoung guys like Christian,” said Steven Wilner,who provides outside legal counsel toGenting. “Christian has proven himself to bevery capable.”

Mr. Goode played a key role in discus-sions with the Cuomo administration,which last year had pushed for a major con-vention center to be built at Resorts Worldas the governor introduced legislation tolegalize full-scale gambling in the state.

Resorts World is the highest-grossingcasino in the country in terms of slot-machine revenue. But Mr. Goode is especiallyproud of the fact that it was built and openedin just one year.

“People told us beforehand,” he said,“that you can’t do that in New York City.”

—lisa fickenscher

‘Peoplesaid youcan’t dothat in NewYork City’—Christian Goode




Wired into New YorkMARISSA SHORENSTEIN,33President, New York state, AT&T

Marissa Shorenstein had a moment of déjà vu while testifying at a state hearing onutility companies’ preparationfor and response to Super-

storm Sandy.Three years earlier, Ms. Shorenstein

testified to investigators from then-AttorneyGeneral Andrew Cuomo’s office about adomestic-abuse scandal that had engulfedGov. David Paterson’s administration.Testifying post-Sandy, she noticed a fewfamiliar faces.

“I was called to testify by the samepeople,” she said, laughing. “I’m like, ‘Oh myGod!’ ”

Ms. Shorenstein grew up in a devoutlypolitical household—a government researchcenter at Harvard bears her family’s name.She went from helping her mother run forCity Council as an elementary-schoolstudent, to volunteering for Bill Clinton’scampaign as a teenager, to working on AlGore’s 2000 presidential campaign in her

20s. She has served in the press offices ofboth Mr. Paterson and Mr. Cuomo.

“She probably knew more about what wasgoing on when she was 12 to 14 years old thanmost people know in their lifetime,” Mr.Paterson said.

Before going to work for the state, she wasdirector of corporate communications for theNew York Jets, where she devised themarketing strategy for the proposed WestSide stadium.The stadium was a flop, but her campaign was influential. Now even small,issue-based projects are using television anddirect mail, rather than just nationalcorporate campaigns.

Today, when not defending AT&T’sperformance during the hurricane, she ismanaging the telecommunication giant’sregulatory, legislative and civic agenda inNew York. But she remains a communi-cations expert at heart.

“I still write my own speeches,” she said.“I’m like my own press secretary.”

—andrew j. hawkins

Rhys Powell says memories of grow-ing up in the Bahamas inspired himto quit his stock-trading job andlaunch his healthy-school-lunch

venture, Red Rabbit, in 2005.There, everyfruit and vegetable was picked ripe to be eatenimmediately.

His vision of freshness keeps getting bigger.Red Rabbit just upgraded from an 800-square-foot kitchen in midtown to a10,000-square-foot facility in Harlem,where the seven-rack deck oven can roast500 chickens at one time; and he plans toexpand even further this year.

Mr. Powell worked on the project whilestill at his day job for six months beforeditching finance. He expanded Red Rabbitwith $750,000 in capital from the New York

City Investment Fund.“A good entrepreneur is like a duck on a

lake—above the surface, he is sitting calmly,but underneath he’s paddling like crazy tostay afloat,” said Brad Barnhorn, a RedRabbit board member. He noted that thenatural-food business poses huge logisticalchallenges in delivering more than 20,000freshly prepared meals to students every day.“Rhys is committed to that challenge.”

Mr. Powell acknowledges the size of it.“Bad, processed school food is a systemicproblem that will probably be changed on alarger scale by a company much bigger thanours,” he said. “But they will draw inspirationfrom what we are doing here, and that is what Icount as success.”

—eva saviano

RHYS POWELL,33President and founder, RED RABBIT

Ieuan Jolly takes data privacy as seriouslyas anyone. He advises Facebook, Visa,Clear Channel and others on their priva-cy policies regarding geolocation (track-

ing customers using available GPS data) andtargeted advertising.

That puts him in the eyeof the privacy storm.

A native ofHertfordshire, England,whose mother is fromIreland and whose father isfrom India, Mr. Jolly is partof a small cadre of peopleshaping global privacy law.

“He’s one of the fewpeople who can speak withequal ease about EuropeanUnion, Asian and U.S. privacyissues,” said Jim Taylor, co-chair of law firm Loeb &Loeb’s advanced-mediaand technologydepartment.

Mr. Jolly resists thenotion that risk-averselawyers are obstacles to newtechnology.

“I’m trying to changethat mindset,” he said,explaining that there’s a wayto work around the strictest

laws. “It’s far better to be seen as a revenuegenerator than as the guy who says no to arevenue generator.”

There is one “no” Mr. Jolly has said heliterally lives by. About a decade ago, he wasdiagnosed with a rare autoimmune diseasethat countless doctors told him wasuntreatable, but he refused to accept theprognosis. He found a scientist willing to workwith him and beat the condition.That inspiredhim to launch an organization,NoMoreCant.com, to help kids in difficultsituations.

—hilary potkewitz

IEUAN JOLLY, 36Partner, LOEB & LOEB

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Marissa Shorenstein can’tdrive, ride a bike orswallow a pill


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In the summer of 2007, a time when e-commerce was dominated by the likesof Amazon and eBay, Andy Dunn ap-proached a former professor from Stan-

ford Graduate School of Business, JoelPeterson, about investing in Bonobos, Mr.Dunn’s new pants-selling website.

“The idea was somewhat interesting, butI wasn’t sure if it would work or not,”said Mr. Peterson, chairman ofJetBlue Airways Corp. “Itook it to one of my friendsin New York, and he rolledhis eyes.” Yet Mr. Peterson’sconfidence in Mr. Dunnoutweighed any misgivingsabout Bonobos: He poniedup $100,000 andbecame thecompany’s firstinvestor.

It’s easy tosee how Mr.Dunn, a charismaticand enthusiasticentrepreneur,managed to charmhis professor and,subsequently, maleshoppers across thecountry.Throughhis six years inbusiness, Mr. Dunnhas transformed Bonobos from anonline-only venture selling asingle product to a clothieroffering a complete line ofmenswear. He’s received morethan $72 million in venture-capital funding. Last year, theChicago native brokered adeal with Nordstrom to sell at70 of its stores, and he’s alsoopened six brick-and-mortarshops around the country.Two more may be in theworks.

“We are becoming for ourcustomer the answer to wherethey buy their basics—pants,shirts, sweaters, suits. That’sa much bigger brand than theplace you go to buy pants,”said Mr. Dunn, a West Village resident whoalso runs an angel investment fund calledRed Swan Ventures, which is focused on

digital brands.Despite Bonobos’ four

years of doubled salesgrowth—Crain’s estimatesrevenue to be near $40million—he remainshumble.

“I don’t live with thefeeling that I have asuccessful venture,” he said.“I live with the feeling that Ihave a great brand and agreat team, but still have to

prove that we can build a great business.”—adrianne pasquarelli

Back in high school, KatiaBeauchamp planned her entireprom outfit around the merlot-tinted hue of Chanel’s Vamp nail

polish.“I worked at Gap and funneled a

significant amount of my income into beautyproducts,” the El Paso, Texas, native recalled.“It was this accessible luxury: I could buysomething that was Chanel; I could have thesame great eyeliner as someone who had

everything.”Now she has helped make such luxuries even

more attainable—if a trifle smaller. In 2010,she and business partner Hayley Barnafounded Birchbox, an e-commerce startupthat sends monthly cosmetics samples tosubscribers, who then have the option topurchase full-size products.

The idea, formed during their days atHarvard Business School, quickly caughton, receiving $11.9 million in venture-

KATIA BEAUCHAMP, 30Co-founder and co-chief executive, BIRCHBOX


ANDY DUNN,34Founder and chief executiveBONOBOS

‘I have agreat brandand a great

team’—Andy Dunn

Years of Sunday dinners at herItalian grandmother’s place inQueens—a perpetual feast for ahuge extended family—couldn’thelp but inspire Laura Maniec’s

interest in the restaurant business.The second of four kids, she was barely of

legal age to drink when she enrolled in asommelier certification class at Windows onthe World.

After the destruction of the restaurant on

9/11, hospitality industrymentors helped her land a jobas a sommelier at 400-seat BlueFin. Ms. Maniec was thenpromoted to wine and spiritsdirector for the entire B.R.Guest restaurant group, anational chain of 20 eateries.

“Wine lets me explore mypassions,” she said, citing travel,languages, culture and scienceamong them. In 2009, shebecame the world’s youngestmaster sommelier and one ofonly 18 women to achieve theaccreditation.

“If Laura has a vision, dreamor plan, there is no stopping her,” said MichaelJacobs, principal at Corner Table Restaurants,

a Manhattan restaurantmanagement company. “She sticksto something until it is perfect.”

But once perfected, hercorporate job bored her. “I didn’twant any other wine jobs,” shesaid. So in November 2011, shecreated a dream job in the form ofCorkbuzz, an “inclusive” placewhere wine lovers can take classes,hold corporate tasting events andlearn about wine—or just drinkand savor a meal.

Ms. Maniec now is scoutingother locations for Corkbuzz,which was profitable in its firstyear. “We want this to be a brand in

major cities, a great place with food and wine.”—barbara benson

LAURAMANIEC, 33Owner and chief executive CORKBUZZ WINE STUDIO

WHOKNEW?Laura

Maniecdrank Zima& peach-flavored

Cisco whenshe was

underage



NEIL BLUMENTHAL,32Co-founder and co-chief executiveWARBY PARKER

Neil Blumenthal learned two thingswhile working in El Salvador foran organization called Vision-Spring, which helps women sell

eyeglasses in poor communities, shortlyafter his 2002 graduation from TuftsUniversity: Glasses can change lives, butonly if they look good.

“In the poorest village on the planet,somebody would rather be blind than weara pair of used 1970s cat eyes,” Mr.Blumenthal said.

In 2008, the Manhattan native headedto Wharton for an M.B.A. There, he andthree friends came up with the idea forWarby Parker, an online optical retailer thatsells affordable, stylish glasses and providesa pair to VisionSpring for every pair sold.Launched in early 2010, Warby Parkerreached its first year’s sales target in threeweeks.

Two years and 150 employees later, thecompany had given away 250,000 pairs ofglasses.The specs for sale on the site costabout $95 each.

Jordan Kassalow, the eye doctor whofounded VisionSpring, said his formeremployee’s experience in El Salvador is whatsets Warby Parker apart from other “one forone” models.

“Cause marketing has become thestrategy du jour,” Mr. Kassalow said. Whatdifferentiates Neil and Warby Parker fromother cause marketers? “It’s coming frompersonal experience and authenticity.”

—ali elkin


QUIARA ALEGRÍA HUDES,35Pulitzer Prize-winning playwright

On a break from teaching a three-hour playwriting class lastApril, Quiara Alegría Hudesdiscovered her phone was “ex-ploding with messages.” Friends

and family were calling to congratulate herfor winning the PulitzerPrize for her play Water by theSpoonful.

“I went so pale that mystudents kept asking me ifeverything was all right,” saidthe Philadelphia native, whohad already been a finalist forthe award twice before.

She was nominated for Inthe Heights, which won a Tonyaward for best musical in2008, and Elliot, a Soldier’sFugue, the first part of atrilogy that includes Water.The third installment debutsin Chicago next month.

Water weaves several plotlines together asit examines the varied ways people seekconnections and salvation, and the impact oftheir choices. The New York Times praisedWater for its “shimmering, sustaining

warmth” and hailed “the empathy and vibranthumor” of Ms. Hudes’ writing.

Ms. Hudes said she draws on her largeand boisterous extended family to come upwith ideas and characters. She was moved towrite about addiction—an underlying

theme in Water—because acousin struggled with it.

The mother of two wroteconstantly as a child—everything from poems toplays—yet studied music atYale University, hoping tobecome a composer like abeloved aunt. However, aftergraduating, she became boredwith her music career. Shewas accepted at BrownUniversity, where she beganwriting plays again andearned a master’s in fine arts.

“She has a great ear fordialogue—it really crackles,” said CaroleRothman, artistic director of Second StageTheatre, where Water made its New YorkCity debut. “And she’s not afraid to tackle thetough subjects.”

—theresa agovino

A voice thatflows like Water

When sheheard shewon, ‘I wentso pale’

—Quiara Alegría Hudes

capital funding. By her seventh month inbusiness, Ms. Beauchamp had alreadyexceeded her five-year sales goal.

Birchbox, which sells 400 brands,including Stila and Benefit, now boasts wellover 300,000 subscribers. Revenue is a littleunder $40 million, according to sources, upfrom $5.5 million in 2011. Late last fall, Ms.Beauchamp took the company global withthe purchase of Paris-based competitorJolieBox.

“We started growing at an insane rate fromthe time the boxes started arriving,” she said,speaking from the 150-employee company’sbrand-new, 23,000-square-footheadquarters in Murray Hill.

After expanding into men’s products in2012, Birchbox will diversify even furtherthis year by selling subscriptions for samplesof home products, like truffle salt orgrapeseed oil for cooking.

“Birchbox is a really fun way forconsumers to discover new brands,” saidAlexandra Wilkis Wilson, the Gilt Groupeco-founder who has acted as a mentor toboth Ms. Beauchamp, who handles brandrelationships and business development, andco-CEO Ms. Barna, who overseesoperations. “I could help guide them in thebeginning, but now they’re just doing greaton their own.”

—adrianne pasquarelli

28are on

Facebook

30are on

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in12p22-23.qxp 3/21/2013 4:07 PM Page 2

SHEILA PELUSO,36SVP and associate general counselCERBERUS CAPITAL MANAGEMENT


BRINAMILIKOWSKY,34Senior policy adviser and counselMAYOR’S OFFICE/MAYORS AGAINSTILLEGAL GUNS

Brina Milikowsky didn’t know much about guns orhow to control them before becoming a top policyadviser to Mayor Michael Bloomberg in 2010.Now Ms. Milikowsky is a national expert on an issuethat has grabbed the attention of the White House and

the country, working as the No. 2 for Mayors Against IllegalGuns, co-chaired by Mr. Bloomberg.

“There was no real gun policy or advocacy movement untilthis operation,” said the Greenwich Village resident andBoston native. “I never had guns on my radar professionallybefore this job.”

The job has grown more intense since the shooting atSandy Hook Elementary School on Dec. 14, with Ms.Milikowsky now working seven days a week, pushing torequire a background-check system for every gun sale in theU.S., get military-style assault weapons and high-capacitymagazines off the streets, and change the law to make guntrafficking a federal crime.These are issues she has helpedspearhead for years, but “the whole tenor of what we’re doinghas changed since Newtown,” she said. “There is a window tomake some legislative moves.”

The Harvard and NYU law-school graduate—who oncethought she would become a civil-rights lawyer—has madeherself irreplaceable to the cause. “I’d call her our vice president ofeverything,” said Mark Glaze, director of Mayors Against IllegalGuns. “She does law; she can write.There are a lot of stars inour office, and a disproportionate number came to us becauseBrina found them.”

The job suits Ms. Milikowsky, somewhat to her surprise.“I’m not a very good planner,” she said. “I couldn’t have dreamtthis position up.” —annie karni

If there’s one constant in Greg Pass’ career—which in-cludes co-founding and selling two companies—it’s afondness for uncharted territory. As chief technology officerand co-founder of 2007 startup Summize, Mr. Passhelped launch a real-time search engine that could track a

unique new source of constantly flowing content:Twitter.“In terms of the data, it was a form of content that did not

exist before,” he said. In 2008, Summize was sold to Twitter,and Mr. Pass went on to build the engineering team and leadthe development of the system architecture as the company’sfirst CTO.

Last year, Mr. Pass took a career left turn, joining theacademic world as the chief entrepreneurial officer at Cornell

NYC Tech. In January, thegraduate engineering campusstarted classes in its temporaryquarters in Google’s Chelseabuilding.

Now the Cornell alumnus isworking on building a newkind of school—helpingdesign courses, establishrelationships withbusinesses and nonprofits,infuse an entrepreneurialculture and even figure outthe classroom seating.“The world has changedsince the last time a schoolwas started from scratch,”he said.

Cornell NYC’s dean, Dan Huttenlocher, taught Mr.Pass in his robotics lab some 15 years before hiring him.He hopes students follow the entrepreneurial officer’s lead andcombine analytic minds with action-oriented spirit.

“He’s my paradigmatic example,” Mr. Huttenlocher said.—matthew flamm

A new world‘since aschool wasstartedfromscratch’

—Greg Pass

GREG PASS,37Chief entrepreneurial officerCORNELL NYC TECH


During a second-grade spelling bee, Sheila Peluso,worried about showing up her classmates, decid-ed to flip the “O” and “E” in the word “dungeon”to ensure she’d lose. “I saw my mother’s face fall,”she remembered. “But I couldn’t take the idea of

standing out that much.”She’s since gotten more comfortable with the idea. Last

year, Ms. Peluso became the second woman ever to beappointed partner at the prestigious private-equity firmCerberus Capital Management.The promotion means she’soften the only woman in the room when the firm’s 50partners meet.

“She is one of those rare people beloved by all,” said ChanGalbato, CEO of Cerberus’ operations and advisory division.“I, and so many others, feel fortunate to be her colleague.”

As associate general counsel, Ms. Peluso manages as muchof her firm’s legal work as she can handle. Her inbox is neverless than full, considering that Cerberus has $25 billion toinvest with a portfolio that includes real estate, supermarketsand manufacturers of drugs and steel. Cerberus, a famouslytight-lipped firm, made headlines late last year when it said itwould sell its Freedom Group, a firearms maker, after one of itsweapons was used in the Newtown, Conn., massacre.

Ms. Peluso grew up on a farm upstate where her fathertrained racehorses, and her alarm clock was a peacock withan especially piercing squawk. After moving to the city tostart out at law firm Chadbourne & Parke, she startled co-workers by using her knowledge of horses to place bets at aseedy off-track betting parlor.The key was ignoring theroom’s smoke and men’s glares.

“Honestly, it was just a bunch of old guys reading racingforms,” she said. “You just go in, conduct your business and makeyour way. My friends would stay outside.”

—aaron elstein

Greg Pass isa student ofdiagrammaticart

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Meeting challengesis a way of life


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Before she knew what she wantedto do with her life, Ohio nativeMelissa Román Burch knew forsure where she wanted to do it.

“Growing up, people would say,‘What do you want to be?’ I would say, ‘A NewYorker,’ ” Ms. Burch said. Still, when she visit-ed the city for the first time to attend the1992 Democratic National Convention atMadison Square Garden, she could not haveimagined she would end up helping to buildthat venerable arena’s chief rival: the BarclaysCenter in Brooklyn.

As a senior vice president of residentialand commercial development at Forest CityRatner, the Harvard College and HarvardBusiness School grad and Upper East Sideresident has been involved in every aspect ofthe $4.9 billion Atlantic Yards project sinceits inception 10 years ago.

“I was knocking on doors, telling peopleI’d like to speak to them about purchasingtheir property,” she recalled. “I was tryingto acquire the New Jersey Nets basketballteam and purchase air rights from the

Long Island Rail Road.”Now Ms. Burch is heading the project to

build the first residential building on the site,a 32-story tower that will feature the tallestmodular building ever constructed. “Wethink this is going to launch a new industryin New York,” she said of the modularsystem.

With 15 more buildings slated to come onthe site, Ms. Burch has her work cut out forher for the foreseeable future. But while shecalls developing Atlantic Yards “a career,” shealso notes that the company is alreadyinvestigating new projects, some well beyondBrooklyn.

“A lot of what a developer does is solveproblems,” said MaryAnne Gilmartin,executive vice president of Forest CityRatner, who has been tapped to replaceBruce Ratner as CEO. “You have to feelcomfortable with that constantly changingdynamic, and Melissa’s adeptness and comfortwith change makes her such an asset to theorganization.”

—annie karni


Climbing to

MELISSA ROMÁN BURCH,36Senior vice president, FOREST CITY RATNER COS.

PIRAYE YURTTASBEIM, 34Founder and chief executive CELMATIX INC.

As with all new mothers, PirayeBeim’s worldview changed when herbaby was born on Feb. 12.Thoughthe molecular biologist has long

been intellectually passionate about female in-fertility, she said her pregnancy made infertili-ty “much closer to my heart. Pregnancy is anabsolutely miraculous experience.”

The Manhattan biotechnology firm Ms.Beim co-founded, Celmatix, is after a miracleof its own, conducting the first large-scalegenomic studies of female infertility incollaboration with fertility clinics so as tobetter understand the genetic drivers of thecondition. Celmatix also is developinganalytical tools that will help fertility doctorsclarify causes and help them personalizetreatment strategies and IVF protocols.Thegoal is to develop noninvasive diagnostictools that will help women get pregnant.

Her dream is to create a fertility screenthat will alert women about risk factors forinfertility and eventually make the productas commonplace as a Pap smear. Celmatixhas raised $8.5 million in venture capital,with Topspin Partners the lead investor.

Steven Winick, a Topspin partner, isimpressed with how Ms. Beim spots potentialbusiness problems. “As a scientist, she has anunusual grasp of what will make this

successful, not just what is scientifically inter-esting to her,” he said. “She also has an ability toproject her passion to anyone she speaks to so thatthey come away thinking, ‘Wow.’ ”

Ms. Beim moved to Texas with her parentsfrom Turkey when she was 4, and, like thechildren of many immigrants, she focused onacademics—along with cheerleading. “Thereare many parallels between being anentrepreneur and a cheerleader,” she said. “It’syour job to keep morale high no matter what’sgoing on at the field, to stay positive andovercome adversity.”

—barbara benson

Jon Oringer started several businesseswhile pursuing his master’s in comput-er science at Columbia in the late ’90s,including making one of the first pop-

up blockers. When those got integrated intoWeb browsers and it was time to move on,Mr. Oringer realized that in each of his pre-vious ventures, he had needed stock photos,which were expensive. So he went out andtook 30,000 of his own.

“Cameras were dropping in price, and Idecided to go out and take stock photos and seewhat it was like,” Mr. Oringer said. “It turnedout not to be that hard.”

And so Shutterstock, a library forinexpensive stock photos, was born. Soon

enough, companies Mr. Oringer recognizedwere buying his photos.

About nine years later, 40,000photographers contribute to the site’s libraryof 24 million photos and 900,000 videos.Revenue for 2012 was $169.6 million.Thecompany now has 238 employees, most ofwhom are spread over four floors on BroadStreet near the stock exchange.The locationwas convenient when the company wentpublic in October. “That’s probably why wedid it,” Mr. Oringer joked.

Mr. Oringer likes to stay close to hisroots, said Dan McCormick, the company’ssenior vice president of technology. Mr.McCormick remembers the company’s earlydays, when five employees worked out of anoffice in the Flatiron district where theywould get shocked if they touched anythingmetal. They resolved the issue by dousingthe floors in static spray.

“We really try to maintain that original cultureand stay scrappy,” Mr. McCormick said. “Jonloves the word ‘scrappy.’ ”

—ali elkin

15wear suits

to work

22wear jeans

3mix it up40UNDER

FortyFACTS


JON ORINGER,38Founder and chief executiveSHUTTERSTOCK


new heights

If April Bloomfield at age 16 hadsubmitted her application to a po-lice training program on time, herlife would have been much

different.It is perhaps the best deadline she

ever missed. On a whim, Ms.Bloomfield entered culinary school inher native Birmingham, England,following in the footsteps of her twoolder sisters—one of whom works forher today as a sous chef at the BreslinBar & Dining Room.

Before she crossed the Atlantic, Ms.Bloomfield was a distinguished chef inLondon, where she attracted the attention ofcelebrity chef Mario Batali in 2003. On therecommendation of another famous chef,Jamie Oliver, Mr. Batali asked her to helmthe Spotted Pig in the West Village, a tinygastropub in which he’s an investor.

It has become a local phenomenon,attracting more diners than it can usuallyaccommodate. “April reinvented pub food,” saidMr. Batali. “She strives for purity in flavor,and you can taste it in her food.”

The Spotted Pig also launched Ms.Bloomfield’s career here, earning a covetedstar from the Michelin restaurant guide forthe past eight years. Ms. Bloomfield is co-owner with restaurateur Ken Friedman ofthree other acclaimed restaurants in the

city, and they have just signed a lease fortheir fifth eatery, an Italian spot in SanFrancisco.

“I’d love to fit my time between London,New York and San Francisco, which is ourexcuse to spread our wings,” said Ms.Bloomfield.

Washington, D.C., may beckon as well.Last year, she was among more than 80 chefs—including only about a dozen women—selected bythe State Department to be in the newly formedAmerican Chef Corps, an initiative involvingculinary leaders in diplomacy. She has alreadycooked for a State Department lunch atwhich British Prime Minister DavidCameron was the guest of honor.

“I was very stoked to get such anopportunity,” she said.

—lisa fickenscher

When Manisha Sheth arrivedat law firm Quinn Emanuelat the start of the financialcrisis in 2008, she was as-signed a case involving resi-

dential mortgage-backed securities.Thecomplex securities at the root of the crisiswere a complete mystery to Ms. Sheth.

“I didn’t even know whatRMBS stood for,” sheadmitted. “I had to look it upon Wikipedia.”

But the former federalprosecutor is now explainingRMBS to anyone who willlisten. Her department, whichonce handled a couple of cases ayear, is now the firm’s second-busiest.

She’s the lead attorney onone of the highest-profilecases: a $22 billion suit againstCountrywide Financial/Bank of America onbehalf of insurance company MBIA, accusingthe mortgage giant of securities fraud.

Ms. Sheth said going after banks isn’t sodifferent from her former life pursuingcriminal cases.

“When you see there’s been an injusticeand someone has defrauded somebody else,you want to go after that person and make itright,” she said. (BofA declined to commenton ongoing litigation.)

She takes that attitude intothe courtroom and has beensetting precedents left and right bypersuading judges to rule in herfavor. “It’s a real talent first tounderstand it, and then make iteasy for a judge to understand,”said Peter Calamari, managingpartner of Quinn Emanuel’sNew York office.

The Philadelphia nativeand her husband are avid rockclimbers. Evidently, Ms. Shethis persuasive even in her

hobbies: When they first met, he was afraidof heights.

—hilary potkewitz

MANISHA SHETH,39Partner, QUINN EMANUEL URQUHART & SULLIVAN


Southern California native MarcRicks had originally planned to re-turn to consulting at McKinsey &Co. after graduating from Harvard

Business School in 2003. But, motivated bythe Sept. 11 attacks, he took an unpaid, 10-week summer internship working on lowerManhattan issues for the city’s EconomicDevelopment Corp.

The move took hiscareer in a differentdirection. He joined thecity payroll as a policyadviser and quickly workedhis way up, serving as chiefof staff for then-DeputyMayor Daniel Doctorofffrom 2005 to 2007. Hewas the point man in craftingthe Bloomberg administra-tion’s sustainability road map,PlaNYC, before leaving tobecome VP of infrastruc-ture at Goldman Sachs.

“That’s sort of whatpeople on Dan’s staff did,”said Mr. Ricks, who livesin Manhattan with hiscake-designer wife and

two kids. “You worked really hard for three orfour years and then you left.”

But the city would need him again. InDecember, four weeks after SuperstormSandy exposed the city’s vulnerabilities, hetook a six-month leave from Goldman to helpthe city craft a master plan for dealing withsevere weather.

“I don’t define it as a break,” he said. “I’mworking even harder than I was. I neverexpected to go back to government work thissoon, or for a short burst of activity, but I feellucky to have done it.”

“Marc has a sophisticated strategic andfinancial sense, and he builds consensus,” said Mr.Doctoroff, president of Bloomberg LP. “To dowhat Marc does, you have to recognize thatgovernment and business operate on differentspeeds. He has that ability to operate on twospeeds at the same time.”

—annie karni

APRIL BLOOMFIELD,38Chef and co-ownerTHE SPOTTED PIG AND FOUROTHER RESTAURANTS

18 own their

homes

37live

in the city

16are native

New Yorkers

‘You want torightinjustice’—Manisha Sheth

MARC RICKS,37Vice president, GOLDMANSACHS; chief operatingofficer, NYC SPECIALINITIATIVE FOR REBUILDINGAND RESILIENCY


When Jed Walentas joined Two Trees Management, hisfather’s Brooklyn-based realestate development company in

1997, he was given two tasks: to build a3,000-square-foot office for the firm inDumbo and to convert the landmark Clock Tower Building down thestreet into a 250,000-square-footcondo building.

Thanks a lot, Dad.That’s when the younger Walentas,

who had been an economics major atthe University of Pennsylvania, and asportswriter turned editor for theschool paper, started getting a realeducation.

“I didn’t know how to build acardboard box,” said the Manhattannative, who fresh out of college hadspent almost a year working for theTrump Organization. “But I compensated for my lack of knowledgewith energy and curiosity.”

That meant hours spentunraveling the mysteries ofarchitectural and mechanicaldrawings and grilling dozens ofcontractors to learn theworkings of their trade.

Since then, Mr. Walentashas developed more than a dozenprojects, including the $600million Mercedes House, theresidential development that is TwoTrees’ first Manhattan project.

Just last year, Mr. Walentas led

the company on its biggest buy ever—snapping up the Domino Sugar factory siteon the Williamsburg waterfront for $185million. There he plans to revive a long-stalled residential conversion and add anew twist—some office space—eventhough the change will require a lengthypublic review.

“The struggle makes it fun,” said Mr.Walentas, who took over the firm, whichnow owns and manages $2 billion worth ofreal estate, in 2011.

“Jed sees how real estate fits into the broadercontext of the city,” said Rob Speyer, co-chiefexecutive of Tishman Speyer. “It’s not justabout getting his next project completed.”

—amanda fung

Queens congresswoman GraceMeng is something rare: a suc-cessful politician who happens tobe exceedingly, genuinely nice.

Such an approach isn’t thenorm in hyperpartisan Wash-

ington, D.C. But a bill Ms. Meng introduced,allowing funds from the $50.4 billion in fed-eral Sandy aid to be allocated to houses ofworship, has already passed the House. Dur-ing her first two months in office, the Democrathas built bridges with Republican colleagues, join-ing a new bipartisan freshman caucus and aHouse Bible-study group. At the recent Stateof the Union address, she gained notice forhelpfully wiping lipstick off President Oba-ma’s cheek as he passed by.

“I’ve heard criticism: ‘You’re not loudenough, you’re not aggressive enough,’ ” saidMs. Meng. “People have different ways ofgetting things done.”

Ms. Meng grew up in Bayside, Queens,

and attended Stuyvesant High School, theUniversity of Michigan and Cardozo LawSchool. She became involved in politicswhen her father, Jimmy Meng, became thefirst Asian-American elected to the NewYork Legislature in 2004. “Grace has a way ofmaking people warm to her,” said QueensAssemblyman Michael Miller. “She has a wayof seeing the best in people.”

Last year, Ms. Meng, who is married withtwo sons, won a hard-fought primary tobecome the first Asian-American elected toCongress from New York. She hopes to setan example for the community.

“It’s not really encouraged in Asian-American families to go into jobs that don’tpay a lot and are public-interest,” said Ms.Meng, who always kept a small army ofinterns in her Assembly office to promotegovernment service. “I really believe that themore people touch government, the better.”

—chris bragg

Achild of the 1980s, Ntiedo “Nt” Etukgrew up on joysticks and 8-bit ad-ventures like Zork and Pitfall. Butwhen the former programming

prodigy—he created his first video game atage 11—made it his career, Mr. Etuk opted forthe less lucrative education market, rather thandesigning mainstream games.

That’s not to say Mr. Etuk, a self-describeddevotee of Ayn Rand’s The Fountainhead, isn’ta profit-seeking businessman. Five years ago,he gave up a high-paying job at Citigroup andraised $1.2 million to start educational

products company Tabula Digita. He hassince raised another $20 million and renamedthe business DimensionU.

“This was a huge opportunity to combine thatdesire to give back with my more practical,capitalist nature,” he said.

Today, the Nigerian native’s games are inabout 200 New York City public schools. Andalthough there have been staff departures anda few busted deals (a partnership with alearning center failed after the center wentbelly-up) along the way, Mr. Etuk expects toexpand his software empire.TheManhattanite recently partnered with a majoreducation company on a venture that he saidwill “fundamentally democratize the processof gaining entrance to college.” He refuses tosay more until the details are finalized.

“He’s a very entrepreneurial, exciting, visionaryguy,” said former New York City SchoolsChancellor Joel Klein. “Games get kidsexcited. If you can tie that into math, that’sgroundbreaking.”



JED WALENTAS,38PrincipalTWO TREES MANAGEMENT CO.

A warm touch in a cold place

NTIEDO ETUK, 37Founder and chairmanDIMENSIONU AND THE ETUK COS.

GRACE MENG,37Congresswoman, SIXTH DISTRICT, QUEENS



L ike many first-generation Indian-Americans,Anuj Desai always thought he’d be a doctor. In-stead, his job is to transform how doctors usetechnology. New York eHealth Collaborative is

a nonprofit that receives state and federal grants to helpproviders shift to electronic health records. But it alsoaddresses the much larger goal of creating the infra-structure—a highway of sorts—for a network that con-nects providers statewide.

This health information network, known as SHIN-NY, connects electronic health records across the state.Its lofty mission is no less than ensuring that all New

Yorkers have secure, accessible health information

online. So far, 80% of the state’s hospitals have hoppedon this highway. “Hospital CEOs really care abouthealth information technology,” says Mr. Desai. “It’s agame-changer.”

Mr. Desai’s talents lie in getting key players tocooperate, whether on a technical-standards agreementor on mentoring with early-stage health IT companiesbeing incubated in New York City. “Anuj is the epitomeof a connector,” said his boss, NYeC Executive DirectorDavid Whitlinger. “He figures out who needs what and hasan ability to build strong trust relationships.”

The New Jersey native, an avid cyclist who hascompleted several endurance events, calls himself a“people person” who thrives on understanding thebusiness aspects of technology. Mr. Desai worked in abusiness development role at Johnson & Johnson andwas a technology and business manager at Pfizer beforearriving at NYeC.“I really wanted to work in health IT,”he said, “and NYeC just blew me away with its vision forthe future.”

—barbara benson


ANUJ DESAI, 35Director of business development NEW YORK EHEALTH COLLABORATIVE

When Michael Lazerow waspitching Buddy Media toventure-capital firm IVP in 2010, his YouTube videoof his company’s annual

kickball game did as much to persuade thefirm to join the $54 million deal as thestandard PowerPoint show-and-tell.

“[He was] building a company becauseof the huge opportunity in social media, buthe also wanted to build a great culture and agreat team,” IVP partner Jules Maltzexplained.

After building Buddy Media into thecountry’s premier social-media marketingcompany, Mr. Lazerow sold it toSalesforce.com, the hot software and cloud computing outfit, for $689 million.He is now chief marketing officer ofSalesforce.com’s Marketing Cloud, a taskhe approaches like the serial entrepreneurthat he is.

A journalism graduate fromNorthwestern University’s Medill School,he first created UWire, a wire service forcolleges and universities that he sold toCBS, and then Golf.com, a news site hesold to Time Inc. in 2006.

“If you took a knife and cut my arm,entrepreneurship would run out,” said thestraightforward Mr. Lazerow, who traceshis inspiration back to his grandfather, alegendary builder of low-income housing inBaltimore. Family and charitable causes arepriorities when he’s not working, includingCycle for Survival, which raises money forprimary research to find cures for rarecancers.

“Our long-term value to the world weleave behind is more the good we did thanthe names of the companies and the moneythat was made,” he said.

—judith messina

MICHAELLAZEROW, 37Founder, BUDDY MEDIA; chief marketing officer,SALESFORCE.COM’SMARKETING CLOUD

Social media catches the

WHOKNEW?

Anuj Desai played jazz saxophonein high school and performed inEurope



buzz

When Jessica Tisch was an under-graduate at Harvard, she usedto carry wrenches in her purse.As coxswain for the men’s row-

ing team, she wanted the tools handy for ad-justing oarlocks and seats.

Ms.Tisch still goes around with whatpeople might regard as unusual objects in herbag, and the point is still to help out herteam. Only now she’s carrying a beeper-sizepersonal radiation detector and a Bluetoothdevice that transmits its data.

They’re tools used by police officers aspart of the Domain Awareness System, therecently unveiled high-tech surveillancenetwork whose development Ms.Tisch

shepherded as director of policy andplanning at the New York PoliceDepartment’s Counterterrorism Bureau.

“My job is to make [the system] as usable aspossible,” she said. “The best way to do that isto use it yourself.”

Despite a law degree and an M.B.A. fromHarvard, the Tisch heiress was never drawnto the family business (her father, JamesTisch, is CEO of Loews Corp.). Shepreferred public service, and now spends herdays thinking about infrastructure protectionand explosive-trace detection devices whiletending to projects from federal fundingallocation through purchase andimplementation.

“There’s nothing I love more than going out and seeing a piece of equipment that Iknow I helped cops be able to use,” Ms. Tischsaid.

“She is very smart and strong-willed,” saidher boss, Richard Daddario, deputycommissioner of counterterrorism. “Add tothat an insistence on getting work doneefficiently and on time, while finding creativesolutions to challenging problems.”

—matthew flamm


On a recent afternoon, BenSmith, the editor in chief ofBuzzFeed, was franticallysearching for his laptop in theFlatiron district building that

houses the company’s 200-plus employees.It wasn’t in his office, probably

because Mr. Smith is rarely there,preferring instead to mingle amonghis editorial staff. He eventually foundit on one of the long tables shared bythe viral website’s reporters.

If Mr. Smith seems to be in a perpetualhurry, that would come as little surprise tothe media world, which he startled inearly 2012 by leaving Politico forBuzzFeed, hitherto famous forhumorous cat memes. But the newsteam he cobbled together has brokenseveral major stories, redefining themedia landscape in the process.Traffic has nearly doubled, and latelast year it raised $19 million inventure capital.

While other media contract,BuzzFeed continues to hire andexpand. In March, Mr. Smithlaunched two new ventures: abusiness news vertical and the site’sfirst overseas office, in the U.K.

Politico Editor in Chief JohnHarris lured the New York City-born Yale grad from the Daily Newsin 2007, impressed by hisgroundbreaking political blogs and

his ability to “create a franchisearound his journalism.” Said Mr.

Harris, “He’s an original, restless mind.”Critics see BuzzFeed as unserious, but

Mr. Smith’s forte is seeing the future of howpeople get information.

“Cat pictures and politics? How will thatwork?” he said, mocking the skeptics. “Idon’t know. Check your Twitter feed.Thatis, in fact, how it works.”


BEN SMITH, 36Editor in chiefBUZZFEED

JESSICATISCH, 32Director of policy and planningNYPD COUNTERTERRORISMBUREAU

Selling the city’s biggest sky-scrapers for nine- and 10-figure sums would seem like asexy business. As Adam Spies

knows well, it’s also a tough balanc-ing act. Sellers always want more,

buyers always want to pay less,and even the best deals leave acollection of disappointed also-rans fuming.

“The biggest difference sellingat this level is managing all the

emotions and the egos,” said Mr.Spies, who is the youngest in an elite

corps of people called in to handlesales of Manhattan’s most prominent

properties.In 2010, for example, he and his

Eastdil brokerage partner Doug Har-mon sold Google its $2 billion Chelseaheadquarters. Earlier this year, he soldthe Sony Building in midtown for$1.1 billion. Mr. Spies’ style in or-

chestrating such deals in a world famouslypopulated by hard-charging, type-A deal-makers is to take a thinking man’s approach.

“Some people yell and scream; I show them thenumbers,” Mr. Spies said.

It’s an approach that has its roots in thefirst job he took, as an accountant at Deloitte,after graduating from the University of Ver-mont. After three years at Deloitte, he tookthe advice of a friend and in 1999 applied fora job at Eastdil, figuring his talent for takingapart balance sheets could serve him well andearn him a lot more money as a broker.

“Adam is part nerdy CPA, part high-stakespoker player,” Mr. Harmon said.

To make life a bit easier, Mr. Spies recentlymoved with his wife and two children to theUpper East Side from Murray Hill.That notonly shortens the commute to his West 57thStreet office, it also saves him a gymmembership.

“I walk to work every day,” he said.—daniel geiger

ADAM SPIES,38Senior managing director, EASTDIL SECURED


Ben Kaufman is out to give ordinarypeople the chance to create new andbetter products. He calls his mission“making invention accessible.”

“We want to build the best consumer productbrand in the world with the people of theworld,” said Mr. Kaufman.

After selling his first startup, Appleaccessories company Mophie—which hefounded when he was 18—he started aplatform for collaborative decision-making called Kluster and then folded itinto his current venture, Quirky. It fieldsideas for inventions from housewives,students, grandmothers, whoever—some

5,000 per week—and asks a globalcommunity of 350,000 Quirky devotees to

help refine the most promising ones. Quirkythen culls a small subset, prototypes them via3-D printer and sends them off to factoriesin Asia and the U.S. for production.

In five years, Quirky has brought 75 products tomarket and sold them in 35,000 retail outletsincluding Target and Bed Bath & Beyond.Last year’s revenue of $18.2 million was nearlythree times that of 2011, although thecompany has yet to turn a profit. Quirkyshares with citizen inventors 30% of net directsales and 10% of sales through retailers.

Will the Quirky model revolutionizemanufacturing? That’s an open question, butMr. Kaufman has clearly caught the eye ofcorporate America.

“I don’t think a month goes by when hedoesn’t get a request from big companiesasking, ‘Can we do something with you?’ ”says Quirky investor James Robinson IV,managing partner of RRE Ventures.

Complicated decisions lie ahead. “ShouldQuirky continue to leverage the best retailersin the world or should Quirky become thebest retailer in the world?” Mr. Kaufmanasked.

—judith messina


A t 13, Barry Silbert was making abusiness out of trading baseballcards. He spent his bar mitzvahmoney on stocks, and at 17 was

the youngest person to pass the Series 7stockbrokers’ exam.

That entrepreneurial DNA is ondisplay today in SecondMarket, anonline platform he founded for tradingilliquid assets—everything from privatestock to bankruptcy claims andmortgage-backed securities.The nine-year-old company is now thelargest platform of its kind, last yearrefereeing several billion dollars intransactions among thousands ofinvestors.The company is profitable and

BEN KAUFMAN, 25Founder and chief executiveQUIRKY

19have

advanceddegrees

9have

M.B.A.s

7have J.D.s40UNDER

FortyFACTS

While growing up, Brooke Lamp-ley was surrounded by copies ofMatisse works painted by hermother in homage to the

French modernist.Ms. Lampley inherited her mom’s love

of art. But reproductions are off-limits inher post as head of Impressionist andmodern art for Christie’s Americas.Promoted last year from vice president, she ledthe group to impressive gains. Sales in thedivision rose 6.5% in 2012, to $408 million,up from $383 million a year earlier, whileChristie’s market share in the category

jumped to 56%, from 41%.Ms. Lampley had no interest in the

auction houses while she was earningher master’s degree in art history fromYale, where “you don’t talk about thingslike monetary value,” she said. But afterunsatisfying stints in galleries, shelanded at Christie’s, where shediscovered a talent for marketing art.

“I like the exchange with clients,” shesaid. “I like having to back up myopinions.”

And Ms. Lampley has demon-strated a knack for understandingthose clients, said Amy Cappellazzo, achairman at Christie’s.

A few years ago, a team visited acollector who said he wanted to sell aPicasso but waffled. Everyone exceptMs. Lampley believed he wasn’tserious, so she kept pursuing thecommission until she won it. Thepainting sold for $6.8 million.

“Brooke kept saying, ‘He is justtesting us,’ and she was right,” said Ms.Cappellazzo.

—theresa agovino

BARRY SILBERT, 36Founder and chief executiveSECONDMARKET

BROOKE LAMPLEY, 32Senior vice president and head of Impressionist and modern artCHRISTIE’S AMERICAS

JOSEPH ALTUZARRA,29Founder and creative director, ALTUZARRA

Hot designerfor cool women


Scheduled to show his first fash-ion collection to Vogue’s AnnaWintour five years ago at thestart of the recession, JosephAltuzarra was already stressed.

But then Air France lost the womensweardesigner’s entire line during a trip back toNew York after visiting buyers in Paris.

“I had to postpone,” he said. “It wasawful!”

Fortunately, Ms. Wintour eventually sawhis clothes, loved them, and helped topersuade fashion-forward retailers, includingBarneys New York, to buy at a time whenmost stores were running from risk. He nowsells his fur-trimmed coats and tailored skirts at 50stores in 15 different countries, and collaboratedon a special collection with J.Crew lastspring.

Revenue for the design house, which alsoemploys Mr. Altuzarra’s mother, Karen, aschairman, is under $10 million but growingrapidly.This year, the company will add a

fourth annual collection. Mr. Altuzarra is alsoexploring handbags.

“The weird blessing about having startedin a recession is that there’s sort of nowhereelse to go but up,” said the Paris-borndesigner, who has received two Council ofFashion Designers of America awards.

Editors praised his recent collection,which debuted last month at New YorkFashion Week.

“Women look good in his clothes,” said StevenKolb, chief executive of the CFDA. “Thequality of construction and the technique ofmaking clothes is something Joseph’s verygood at.”

Part of the appeal comes from filling aniche. Mr. Altuzarra caters to 35- to 65-year-old women, a demographic typically ignored.

“Lots of people are designing for coolyoung girls, but not a lot for cool women,”said Altuzarra Chief Executive KarisDurmer.

—adrianne pasquarelli


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generated $35 million in revenue in 2010, thelast year it disclosed that information.

Mr. Silbert’s vision won SecondMarket a2011 technology pioneer award from theWorld Economic Forum in Davos,Switzerland.

Recently, SecondMarket extended itsplatform to issuers such as privatecommunity banks and inked partnershipswith an angel network and an equitycrowdfunding site.

“I have a vision of creating a new category ofcompany that’s not public and not private but hasthe benefits of both,” said Mr. Silbert.

His skills have impressed venture capitalistLawrence Lenihan, CEO of FirstMarkCapital. “His ability to listen, learn and havethe conviction to act—I’ve never seen all thosedone as well,” said Mr. Lenihan.

What’s next? Mr. Silbert said that otherthan continuing to build SecondMarket, hecould see putting his mind to fixing the U.S.political system.

“Talk about an industry ripe fordisruption,” he said. “If I had the time orenergy, I could see myself trying.”

—judith messina


On a recent afternoon, JimmySoni was focused on the sort oftopic that is central to the man-aging editor’s job at one of theworld’s largest news sites, and it

had nothing to do with gridlock in Congressor drone strikes. It was the launch of new,“floating” share buttons that would followthe user’s eye down the page.

“If you keep [the buttons] locked inpeople’s view, they’re more likely tocomment,” Mr. Soni said. More commentsand more social-media “shares” bring more ofthe reader engagement that has helped TheHuffington Post grow its U.S. audience 15%over the past year, to 46 million uniquevisitors in January, according to comScore.

“In 21st-century journalism, editors haveto think like technologists,” Mr. Soni said.“One of the key roles I play is [figuring out] how todevelop products that help all the editors on thesite, not just a few.”

Born in Toulouse, France, of Indianexpatriate parents and raised in suburbanChicago, Mr. Soni grew up a news junkieand a computer nerd. That was pretty muchhis professional training, not counting stintswith McKinsey and the Washington, D.C.,mayor’s office; time spent co-writing arecently published biography of Cato theYounger, and a year as chief of staff forArianna Huffington.

Mr. Soni impressed the AOL division’seditor in chief with his enthusiasm for digitalmedia, and in January 2012 she made himmanaging editor.

“He has a deep interest in journalism andtechnology, which makes him uniquelysuited to The Huffington Post,” Ms.Huffington said. “He’s been able to increase thecollaboration between edit and tech, which hasalways been at the heart of the Huff Post’ssuccess.”

—matthew flamm


L ate last year, Lauren Hochfelder Sil-verman was on a conference callhammering out a joint-ventureagreement when she got an unpleas-

ant reminder of how stressful her job can be.“I was grinding my teeth so hard, I

chipped my tooth,” said Ms. Silverman.

Such are the wages of being head of realestate acquisitions for the Eastern U.S. andleading a team of 30 people overseeing a $4billion portfolio at one of the world’s elitefinancial institutions, Morgan Stanley.

In the past few years, Ms. Silverman hashelped finance more than $3 billion in dealsin the Eastern region of the U.S., includingthe $200 million purchase of 1107 Broadwaylast year and the $75 million acquisition ofthe Apple Store at 103 Prince St. in 2011.

Such deals and Ms. Silverman’s extensivemarket knowledge have made her a sought-after financial partner for the city’s mostactive real estate buyers.

“When we bring Lauren a deal, we’re not makingpredictions about the market that she doesn’talready know,” said Haim Chera, an executiveat Crown Equities.

Ms. Silverman credits her upbringing forthe way she is able to move easily between theblue-blooded world of corporate investing

and Manhattan’s often earthier buyersand sellers of property.

Though she grew up on the UpperEast Side, attended the exclusiveDalton School and then Yale, herfather, a successful garmentmanufacturer, made sure she knewwhere her good fortune came from.Often he took her to his factory onLong Island to show her how it wasdone.

Growing up, Ms. Silverman wasfascinated with how someneighborhoods could suddenlyblossom with the right investment. AtYale, as part of her joint major ineconomics, politics and ethics, shewrote her senior thesis on the rebirth ofTimes Square, a neighborhood where shenot only works but as an investor now plays abig role in the area’s evolution.

—daniel geiger

Claudia Perlich has worked withBig Data since before it wascool.

Now the chief scientist atMedia6Degrees, Ms. Perlich

grew up in communist East Germany and did not see her first computer until shewas 15. These days, she spends her daysbuilding models to help the digital adver-tising company improve its measurementtactics.

“The process is like in The Matrix—I have all this data running through myscreen,” she said. “The stories data tell fascinateme. It’s like a detective game.”

She won the KDD Cup, a data-sciencecompetition sponsored by the Association

for Computing Machinery, for threeconsecutive years from 2007 to 2009, andholds multiple patents for machinelearning. In addition, she has publishedmore than 50 scientific articles and wasrecognized twice for her work by theACM.

“She is strong-willed in a scientific sense andan intellectual sense, and is personally quiteeasygoing,” said Tom Phillips, the chiefexecutive at Media6Degrees.

In 2010, he helped persuade Ms. Perlichto leave her gig at IBM—where she workedat the company’s T.J. Watson ResearchCenter—for his company. Media6Degrees,founded in 2008, now has 69 localemployees and projected 2012 revenue of$37 million.

Outside work, Ms. Perlich spends timeat a stable in Pleasantville, N.Y., riding herhorse, Monkey. She used to ridecompetitively. And every year she teachesherself something new: This year, it’s thecello, so she can practice with her 8-year-old son, who is learning the double bass.

—emily laermer

JIMMY SONI,27Managing editor THE HUFFINGTON POST

Breaking mediadown to a scienceBreaking media

down to a science

LAUREN HOCHFELDERSILVERMAN, 34Managing director and co-head of U.S. acquisitionsMORGAN STANLEY REAL ESTATE INVESTING

CLAUDIA PERLICH, 39Chief scientistMEDIA6DEGREES



JOSEPH ALTUZARRA was an intern atGoldman Sachs.

KATIA BEAUCHAMP met herhusband on a playgroundwhen she was 10 yearsold.

PIRAYE YURTTAS BEIM wasa high-schoolcheerleader growing upin Texas.

APRIL BLOOMFIELD is taking a potteryclass.

NEIL BLUMENTHAL broke his armwhile dogsledding.

MELISSA ROMÁN BURCH’s favoritekaraoke songs from the list on her iPod: “Don’t Stop Believing,”“Jack & Diane” and “TaintedLove.”

Flutist CLAIRE CHASE does 500jumping jacks a day.

ANDY DUNN has traveled to 50countries on six continents.

NTIEDO ETUK rocked aKid ’n Play flattop

through collegegraduation.

ARIEL FOXMAN readsAramaic.

ROB GOLDSTEIN didn’t have apassport until 2004.

CHRISTIAN GOODE owned arestaurant with his brotherwhile he was in college inBuffalo.

MICHAELGROSS’ twodaughterseach pack adoll in hissuitcasewhen hetravels so he’s neveralone on business trips.

QUIARA ALEGRÍA HUDES’ first child

was born two days before In theHeights opened; her second wasborn two days after Water by theSpoonful opened.

IEUAN JOLLY loves practical jokes,gambling and extremes—inweather and sports.

BEN KAUFMAN’s childhood dreamwas to become a dentist.

BROOKE LAMPLEY married aRepublican. She, on the otherhand, was president of theDemocrats Club in high school.

MICHAEL LAZEROWwent to theSenateconfirmationhearings forSupreme CourtJustice ClarenceThomas. Hismother, a public-interest lobbyist,was managing the opposition to thenomination when Anita Hilltestified.

Congresswoman GRACE MENG likeship-hop.

BRINA MILIKOWSKY wants to be acabaret singer.

JON ORINGER shoots analog film.

CLAUDIA PERLICH bench-presses 190pounds and can stand up on arunning horse.

RHYS POWELL has a125-mph-plustennis serve.

ZOË SAKOUTIS openeda dog-groomingshop when she was12 and “made akilling groomingEnglish springerspaniels.”

MANISHA SHETH hiked to the summit

of Mount Kilimanjaro.

BARRY SILBERT is a struggling bonsaiartist.

LAUREN HOCHFELDER SILVERMANearned her first paycheck forperforming in The Nutcracker.

BuzzFeed’s BEN SMITH snacks onraw lentils.

JASON SOBOL played piano atrestaurants, weddings and barmitzvahs during high school.

JIMMY SONI’s real first name isAbhineet, which means “beautiful”in Hindi.

JOSHUA VLASTO insists he actuallylikes most reporters.

JED WALENTAS was featured in Sports Illustrated in 1995 wearing red-and-blue face paint at a UPenn basketball game. �



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Notice of Qualification of HOLLY PUFFDESIGNS, LLC. Authority filed withSecy. of State of NY (SSNY) on01/24/13. Office location: NY County.LLC formed in Massachusetts (MA)on 03/26/04. Princ. office of LLC: 180E. 79th St., Apt.9D, NY, NY 10075.SSNY designated as agent of LLCupon whom process against it may beserved. SSNY shall mail process toHolly Puff Kennedy at the princ. officeof the LLC. MA addr. of LLC: c/o DayPitney LLP, One International Pl.,Boston, MA 02110. Arts. of Org. filedwith Secy. of the CommonwealthCorps. Div., McCormack Bldg., OneAshburton Pl., 17th Fl., Boston, MA02108. Purpose: Any lawful activity.

NOTICE OF QUALIFICATION ofKemosabe Records, LLC. Authorityfiled with Secy of State of NY (SSNY)on 11/27/12. Office location: NYCounty. LLC formed in DE on 11/22/11.SSNY designated agent upon whomprocess may be served and shallmail copy of process against LLC to:80 State St Albany, NY 12207-2543.Principal business address: 9111Sunset Blvd., Los Angeles, CA 90069.DE address of LLC: 2711 CentervilleRd, Ste 400, Wilmington, DE 19808.Cert of LLC filed with Secy of Stateof DE located: PO Box 898, Dover,DE 19903. Purpose: any lawful act.

Notice of Formation of MaestroParking LLC. Arts. of Org. filed Secy.of State of NY (SSNY) on 2/13/13. Off.loc.: NY County. SSNY designatedas agent of LLC upon whom processagainst it may be served. SSNY shallmail process to: c/o Icon ParkingSystems, 211 E. 38th St., NY, NY10016. Purpose: any lawful activity.

NOTICE OF FORMATION OF GLTMedical Health Services PLLC.Articles of Organization filed with theSecretary of State of NY (SSNY) on01/18/2013. Office location: NEWYORK County. SSNY has been designated as agent upon whomprocess against it may be served.The Post Office address to which theSSNY shall mail a copy of anyprocess against the PLLC servedupon him/her is: 7014 13th Avenue,Ste 202 Brooklyn, NY 11228. Theprincipal business address of thePLLC is: 373 Bleecker Street Apt 4C,New York, New York 10014.Purpose: any lawful act or activity.

Notice of Qual. of 285 MadisonFunding LLC, Auth. filed Sec’y ofState (SSNY) 11/29/12. Office loc.:NY County. LLC org. in DE 11/27/12.SSNY desig. as agent of LLC uponwhom process against it may beserved. SSNY shall mail copy ofproc. to NRAI, 111 Eighth Ave., NY,NY 10011, the Reg. Agt. upon whomproc. may be served. DE off. addr.:160 Greentree Dr., Ste. 101, Dover,DE 19904. Cert. of Form. on file:SSDE, Townsend Bldg., Dover, DE19901. Purp.: any lawful activities.

NOTICE OF FORMATION OF SEXGOATLLC. Arts of Org filed with Secy ofState of NY (SSNY) on 2/12/13.Office location: NY County. SSNYdesignated as agent upon whomprocess may be served and shallmail copy of process against LLC toprincipal business address: 182MULBERRY ST, APT 5, NY, NY 10012.Purpose: any lawful act.

NOTICE OF QUALIFICATION of 34-36WEST 38th STREET, LLC. Authorityfiled with Secy. of State of NY (SSNY)on 1/14/13. Office location: NY County.LLC formed in Delaware (DE) on 11/7/12.SSNY designated as agent of LLCupon whom process against it may beserved. SSNY shall mail process to:c/o Corporation Service Company, 80State Street, Albany, NY 12207-2543.DE address of LLC: c/o CorporationService Company, 2711 CentervilleRoad, Suite 400, Wilmington, DE19808. Purpose: any lawful activity.

Notice of Formation of Urban LeagueEmpowerment Center LLC. Arts. ofOrg. filed with NY Dept. of State on2/21/13. Office location: NY County.Sec. of State designated agent ofLLC upon whom process against itmay be served and shall mail processto the principal business addr.: c/oWindels Marx Lane & Mittendorf, LLP,156 W. 56th St., NY, NY 10019, Attn:Charles J. Hamilton, Jr. Purpose:any lawful activity.

Notice of Qualification of V & CBOATING, L.L.C. Authority filed withSecy. of State of NY (SSNY) on02/21/13. Office location: NY County.LLC formed in Delaware (DE) on02/19/13. SSNY designated as agentof LLC upon whom process againstit may be served. SSNY shall mailprocess to c/o Corporation ServiceCo. (CSC), 80 State St., Albany, NY12207-2543. DE addr. of LLC: c/oCSC, 2711 Centerville Rd., Ste. 400,Wilmington, DE 19808. Arts. of Org.filed with DE Secy. of State, Div. ofCorps., 401 Federal St., Dover, DE19901. Purpose: Any lawful activity.

NOTICE OF FORMATION OF SRSLYLLC. Arts of Org filed with Secy ofState of NY (SSNY) on 8/30/12.Office location: NY County. SSNYdesignated as agent upon whomprocess may be served and shallmail copy of process against LLC toprincipal business address: 50Murray St. #623, NY, NY, 10007.Purpose: any lawful act.

Notice of Formation of 801 AJAX, LLC.Arts. of Org. filed with Secy. of Stateof NY (SSNY) on 02/20/13. Officelocation: NY County. Princ. office ofLLC: 200 Park Ave. South, 8th Fl., NY,NY 10003. 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: Real Estate.

NOTICE OF FORMATION OF EBSInternational, L.L.C.. Arts of Org filedwith Secy of State of NY (SSNY) on1/4/13. Office location: NY County.SSNY designated as agent uponwhom process may be served andshall mail copy of process againstLLC to principal business address:435 W 23rd St 1BB NY, NY 10011.Purpose: any lawful act.

Notice of Qualification of APOLLOMANAGEMENT (AOP) VIII, LLC.Authority filed with Secy. of State of NY(SSNY) on 02/08/13. Office location:NY County. LLC formed in Delaware(DE) on 02/07/13. Princ. office of LLC:9 W. 57th St., NY, NY 10019. SSNYdesignated as agent of LLC upon whomprocess against it may be served.SSNY shall mail process to the LLC,Attn: John J. Suydam at the princ.office of the LLC. DE addr. of LLC:c/o Corporation Service Co., 2711Centerville Rd., Ste. 400, Wilmington,New Castle Cnty., DE 19808. Arts. ofOrg. filed with The Secy. of State ofDE, Dept. of State, Div. of Corps.,John Townsend Bldg., Dover, DE19901. Purpose: Any lawful activity.

Notice of Formation of CITY EXTRAPRESIDENTIAL, LLC. Arts. of Org.filed with Secy. of State of NY (SSNY)on 02/27/13. Office location: NYCounty. Princ. office of LLC: 200Madison Ave., 5th Fl., NY, NY 10016.SSNY designated as agent of LLCupon whom process against it maybe served. SSNY shall mail processto Attn Mr. John A. Gacinski at theprinc. office of the LLC. Purpose:Any lawful activity.

Notice of Formation of IMG Performers1234, LLC. Arts. of Org. filed with NYDept. of State on 12/26/12. Officelocation: NY County. Princ. bus. addr.:1360 E. 9th St., Cleveland, OH 44114.Sec. of State designated agent of LLCupon whom process against it maybe served and shall mail process to:c/o CT Corporation System, 111 8thAve., NY, NY 10011, regd. agentupon whom process may be served.Purpose: all lawful purposes.Notice of Qualification of Best Lockers,

LLC. Authority filed with NY Dept. ofState on 2/8/13. Office location: NYCounty. LLC formed in DE on 10/6/11.NY Sec. of State designated agent ofLLC upon whom process against itmay be served and shall mail processto: c/o CT Corporation System, 1118th Ave., NY, NY 10011, regd. agentupon whom process may be served.DE address of LLC: 1209 Orange St.,Wilmington, DE 19801. Cert. of Form.filed with DE Sec. of State, 401Federal St., Dover, DE 19901.Purpose: all lawful purposes.Notice of Qualification of BH

INVESTMENTS FUND, L.L.C.Authority filed with Secy. of State of NY(SSNY) on 02/21/13. Office location:NY County. LLC formed in Delaware(DE) on 01/11/13. Princ. office of LLC:655 Third Ave., 11th Fl., NY, NY 10017.SSNY designated as agent of LLCupon whom process against it maybe served. SSNY shall mail processto the LLC at the princ. office of theLLC. DE addr. of LLC: CorporationService Co., 2711 Centerville Rd.,Ste. 400, Wilmington, DE 19808. Arts.of Org. filed with Secy. of State, Stateof DE, Dept. of State, TownsendBldg., 401 Federal St., Dover, DE19901. Purpose: Any lawful activity.

Notice of Qual. of PVF - AB, LP, Auth.filed Sec’y of State (SSNY) 8/31/12.Office loc.: NY County. LP org. in DE8/27/12. SSNY desig. as agent of LPupon whom process against it maybe served. SSNY shall mail copy ofproc. to Att: Michael Van Biema, 745Fifth Ave., 14th Fl., NY, NY 10151.DE off. addr.: CSC, 2711 CentervilleRd., Wilmington, DE 19808. Cert. ofLP on file: SSDE, Townsend Bldg.,Dover, DE 19901. Name/addr. ofeach gen. ptr. avail. at SSNY. Purp.:any lawful activities.

Notice of Qual. of 305 East 61stHoldings LLC, Auth. filed Sec’y ofState (SSNY) 12/17/12. Office loc.:NY County. LLC org. in DE 11/13/12.SSNY desig. as agent of LLC uponwhom process against it may beserved. SSNY shall mail copy ofproc. to NRAI, 111 Eighth Ave., NY,NY 10011, the Reg. Agt. upon whomproc. may be served. DE off. addr.:160 Greentree Dr., Ste. 101, Dover,DE 19904. Cert. of Form. on file:SSDE, Townsend Bldg., Dover, DE19901. Purp.: any lawful activities.

Notice of Qual. of PVF - AJ, LP, Auth.filed Sec’y of State (SSNY) 8/31/12.Office loc.: NY County. LP org. in DE8/27/12. SSNY desig. as agent of LPupon whom process against it maybe served. SSNY shall mail copy ofproc. to Att: Michael Van Biema, 745Fifth Ave., 14th Fl., NY, NY 10151.DE off. addr.: CSC, 2711 CentervilleRd., Wilmington, DE 19808. Cert. ofLP on file: SSDE, Townsend Bldg.,Dover, DE 19901. Name/addr. ofeach gen. ptr. avail. at SSNY. Purp.:any lawful activities.

Notice of Qual. of 245 West 25thStreet Building Owner LLC, Auth. filedSec’y of State (SSNY) 12/18/12.Office loc.: NY County. LLC org. in DE12/10/12. SSNY desig. as agent of LLCupon whom process against it maybe served. SSNY shall mail copy ofproc. to NRAI, 111 Eighth Ave., NY,NY 10011, the Reg. Agt. upon whomproc. may be served. DE off. addr.:160 Greentree Dr., Ste. 101, Dover,DE 19904. Cert. of Form. on file:SSDE, Townsend Bldg., Dover, DE19901. Purp.: any lawful activities.

Notice of Formation of Sanjay Patel,MD PLLC. Arts. of Org. filed Secy. ofState of NY (SSNY) on 1/24/13. Off.loc.: NY County. SSNY designatedas agent of PLLC upon whomprocess against it may be served.SSNY shall mail process to: RodinLegal, P.C., 151 Lexington Ave., Ste.3E, NY, NY 10016. Purpose: practicethe profession of medicine.

NOTICE OF QUALIFICATION OF MadiDiaz / Tinyogre Touring, LLC. Authorityfiled with Secy of State of NY (SSNY)on 2/24/12. Office location: NYCounty. LLC formed in DE on 8/8/11.SSNY designated agent upon whomprocess may be served and shallmail copy of process against LLC to:276 Fifth Ave Ste 606 NY, NY 10001.Principal business address: 276 FifthAve, Ste 604, NY, NY 10001. DEaddress of LLC: 2711 Centerville Rd,Ste 400, Wilmington, DE 19808. Cert.of LLC filed with Secy of State of DElocated: PO Box 898, Dover, DE19903. Purpose: any lawful act.

Notice of Qualification of BR PRIVATEEQUITY 2013 LLC. Authority filedwith Secy. of State of NY (SSNY) on02/07/13. Office location: NY County.LLC formed in Delaware (DE) on02/04/13. Princ. office of LLC: 630Fifth Ave., Ste. 2100, NY, NY 10111.SSNY designated as agent of LLCupon whom process against it may beserved. SSNY shall mail process tothe LLC at the princ. office of the LLC.DE addr. of LLC: c/o CorporationService Co., 2711 Centerville Rd., Ste.400, Wilmington, DE 19808. Arts. ofOrg. filed with Secy. of the State ofDE, Office of the Secy. of State, Div.of Corps., John G. Townsend Bldg.,401 Federal St., Dover, DE 19901.Purpose: Any lawful activity.

Notice of Formation of IMG Models1234, LLC. Arts. of Org. filed with NYDept. of State on 12/26/12. Officelocation: NY County. Princ. bus. addr.:1360 E. 9th St., Cleveland, OH 44114.Sec. of State designated agent ofLLC upon whom process against itmay be served and shall mail processto: c/o CT Corporation System, 1118th Ave., NY, NY 10011, regd. agentupon whom process may be served.Purpose: all lawful purposes.

Notice of Formation of Map-Tac-LLC.Articles of Organization filled withSecretary of State of New York(SSNY) on 1/22/13. Office location: NYCounty. SSNY has been designatedas an agent upon whom processagainst the LLC may be served. Theaddress to which SSNY shall mail acopy of any process against the LLCis to: Eric Tanner, 245 E. 44th St.New York, NY 10017. Purupose: Anylawful act or activity.

Notice of Qual. of 245 Partners LLC,Auth. filed Sec’y of State (SSNY)12/13/12. Office loc.: NY County. LLCorg. in DE 12/5/12. SSNY desig. asagent of LLC upon whom processagainst it may be served. SSNY shallmail copy of proc. to NRAI, 111Eighth Ave., NY, NY 10011, the Reg.Agt. upon whom proc. may be served.DE off. 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 Qual. of 305 East 61st LLC,Auth. filed Sec’y of State (SSNY)12/17/12. Office loc.: NY County. LLCorg. in DE 11/13/12. SSNY desig. asagent of LLC upon whom processagainst it may be served. SSNY shallmail copy of proc. to NRAI, 111 EighthAve., NY, NY 10011, the Reg. Agt.upon whom proc. may be served. DEoff. addr.: 160 Greentree Dr., Ste. 101,Dover, DE 19904. Cert. of Form. onfile: SSDE, Townsend Bldg., Dover, DE19901. Purp.: any lawful activities.

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Notice of Formation of ABRIEL MGSLLC. Arts. of Org. filed with Secy. ofState of NY (SSNY) on 03/15/13.Office location: NY County. SSNYdesignated as agent of LLC uponwhom process against it may beserved. SSNY shall mail process toc/o Friedberg Pinkas PLLC, 767Third Ave., 31st Fl., NY, NY 10017.Purpose: Real estate.

Notice of Formation of KIPU MANAGE-MENT LLC. Arts. of Org. filed Secy.of State of NY (SSNY) on 2/21/13.Office location: NY County. SSNYdesignated as agent of LLC uponwhom process against it may beserved. SSNY shall mail process to:715 W. 180th St., Basement, NY, NY10033. Purpose: any lawful activity.

NOTICE OF FORMATION OF LesArtisans Partners LLC. Arts of Orgfiled with Secy of State of NY (SSNY)on 10/9/12. Office location: NY County.SSNY designated as agent uponwhom process may be served andshall mail copy of process against LLCto principal business address: DongYang 212 W 91st St Apt 716, NY NY10024. Purpose: any lawful act.

NOTICE OF APP. FOR AUTH. ofGetting Out Our Dreams Management,LLC, a foreign LLC. App. for Auth.filed Sec’y of State (SSNY) 8/23/2012.LLC organized in DE on 8/16/12. NYoffice location: New York County.SSNY designated as agent of LLCupon whom process against it maybe served. SSNY shall mail copy ofprocess: 1790 Broadway, 20th Fl,New York, NY 10019, Attn: R. Cohen,princ. ofc. address of LLC. Purpose:any lawful activities.

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Notice of Qualification of Lead EdgeCapital Partners, LLC. App. for Auth.filed Secy. of State of NY (SSNY) on2/5/13. Off. loc.: NY County. LLCformed in Delaware (DE) on 10/23/12.SSNY designated as agent of LLCupon whom process against it maybe served. SSNY shall mail processto: 405 Lexington Ave., 32F, NY, NY10174, Attn: Giles S. Eyre, the regis-tered agent upon whom process maybe served. DE address of LLC: 1209Orange St., Wilmington, DE 19801.Cert. of Form. filed DE Secy. of State,401 Federal St., Dover, DE 19901.Purpose: any lawful act or activity.

PUBLIC & LEGAL NOTICES

NOTICE OF FORMATION OF AGNES.SMANAGEMENT GROUP LLC. Arts ofOrg filed with Secy of State of NY(SSNY) on 12/6/12. Office location: NYCounty. SSNY designated as agentupon whom process may be servedand shall mail copy of processagainst LLC to: 200 Riverside Blvd.,NY, NY 10069. Purpose: Retail sales.

Notice of Qual. of Broome StreetOwner LLC, Auth. filed Sec’y of State(SSNY) 11/27/12. Office loc.: NYCounty. LLC org. in DE 9/16/11. SSNYdesig. as agent of LLC upon whomprocess against it may be served.SSNY shall mail copy of proc. to AtlasCapital Group, 505 Fifth Ave., NY, NY10017, the Reg. Agt. upon whom proc.may be served. DE off. addr.: 2711Centerville Rd., Ste. 400, Wilmington,DE 19808. Cert. of Form. on file:SSDE, Townsend Bldg., Dover, DE19901. Purp.: any lawful activities.

Articles of Organization of TONYCDocumentary LLC under Section 203of the Limited Liability Company Lawwere filed with the Secretary of State ofthe State of New York on February 4,2013. The county within this state inwhich the office of the limited liabilitycompany is to be located is New YorkCounty (Manhattan). The street addressof the limited liability company’sprincipal place of business is 88Leonard Street, Apt. 603, New York,New York 10013. The Secretary ofState is designated as agent of thelimited liability company upon whomprocess against it may be served. Theaddress within or without this stateto which the Secretary of State shallmail a copy of any process againstthe limited liability company servedupon him or her is: TONYCDocumentary LLC, 88 Leonard Street,Apt. 603, New York, New York 10013.The duration of the limited liabilitycompany is perpetual. The purposefor which the company is formed is toengage in any lawful acts or activitiesfor which a limited liability companymay be formed under Section 203 ofthe Limited Liability Company Law.

Notice of Formation of Paper CinemaLLC. Arts. of Org filed with NYSecretary of State (SSNY) on12/20/2012.Office location: New YorkCounty. Principal Office of LLC: 548West 28th Street-Suite 336, NewYork, NY 10001. SSNY designatedas agent of LLC upon whom processagainst it may be served. SSNYshall mail process to the LLC at theaddress of its principal officeaddress. Purpose: any lawful activity.

NOTICE OF FORMATION OF Capsula& Co. (USA), LLC. Arts of Org filedwith Secy of State of NY (SSNY) on1/11/13. Office location: NY County.SSNY designated as agent uponwhom process may be served andshall mail copy of process againstLLC to principal business address:300 E. 34th St, Apt. 23G, NY, NY10016. Purpose: any lawful act.

PARAGON ADVISORS LLC; Arts., ofOrg., filed with NY Sec. of State (SSNY)12/11/2012. Office in New YorkCounty. SSNY designated agent forservice of process with copy mailedto: Paragon Outcomes ManagementLLC, 509 Madison Ave., New York,NY 10022, Attn: Frank Tripoli. Alllawful business purposes.

Notice of Qualification of HJSManagement GP LLC. Authority filedwith Secy. of State of NY (SSNY) on01/28/2013. Office location: NYCounty. LLC formed in Delaware (DE)on 12/21/2012. SSNY designated asagent of LLC upon whom processagainst it may be served. SSNY shallmail process to c/o Maples FiduciaryServices (Delaware) LLC, 4001Kennett Pike, Suite 302, Wilmington,DE 19807. DE address of LLC: c/oMaples Fiduciary Services (Delaware)LLC, 4001 Kennett Pike, Ste 302,Wilmington, DE. Arts. of Org. filedwith Secy. of State, of the State ofDE, Div. of Corps., 401 Federal St.,Ste. 4, Dover, DE 19901. Purpose:Any lawful activity.

NOTICE OF FORMATION OF MONDMANAGEMENT, LLC. Articles ofOrganization filed with the Secretaryof State of NY (SSNY) on 2/1/13.Office location: NY County. SSNYdesignated as agent upon whomprocess may be served and shall mailcopy of process against the LLC to EIKOIKE, 57 GREAT JONES ST, NY, NY10012. Purpose: any lawful purpose.

Notice of Formation of CRM HIGHLINE,LLC. Arts. of Org. filed with Secy. ofState of NY (SSNY) on 02/15/13.Office location: NY County. Princ.office of LLC: 503 W. 28th St., NY, NY10010. SSNY designated as agent ofLLC upon whom process against it maybe served. SSNY shall mail processto the LLC at the addr. of its princ.office. Purpose: Any lawful activity.

Notice of Qualification of AhtnaSupport and Training Services, LLC.Authority filed with NY Dept. of Stateon 2/15/13. Office location: NYCounty. LLC formed in AK on 7/13/05.NY Sec. of State designated agent ofLLC upon whom process against it maybe served and shall mail process to:c/o CT Corporation System, 111 8thAve., NY, NY 10011, regd. agent uponwhom process may be served. AKand principal business addr.: 406 W.Fireweed Lane, Ste. 103, Anchorage,AK 99503. Cert. of Org. filed with AKCommissioner of Commerce, 333Willoughby Ave., Juneau, AK 99811.Purpose: all lawful purposes.

Notice of Formation of AZUREPOINTLLC. Arts. of Org. filed with Secy. ofState of NY (SSNY) on 02/04/13.Office location: NY County. SSNYdesignated as agent of LLC uponwhom process against it may beserved. SSNY shall mail process toCorporation Service Co., 80 State St.,Albany, NY 12207-2543. Purpose:Any lawful activity.

NOTICE OF FORMATION OF RevePublic Relations LLC. Arts of Orgfiled with Secy of State of NY (SSNY)on 12/28/12. Office location: NYCounty. SSNY designated as agentupon whom process may be servedand shall mail copy of process againstLLC to principal business address:15 Broad St #2528 NY, NY 10005.Purpose: any lawful act.

NOTICE OF FORMATION OF FRYERNSTECHNOLOGY CONSULTING, LLC.Arts of Org filed with the Secy ofState of NY (SSNY) on 6/28/12.Office location: NY County. SSNYdesignated as agent upon whomprocess may be served and shallmail copy of process against LLC toprincipal business address: 260 W54TH ST APT 25-C, NY, NY 10019.Purpose: any lawful act.

Notice of Formation of 22w11 LLC.Arts. of Org. filed Secy. of State ofNY (SSNY) on 3/1/13. Office location:NY County. SSNY designated asagent of LLC upon whom processagainst it may be served. SSNY shallmail process to: 1301 Ave. of theAmericas, Floor 41, NY, NY 10019.Purpose: any lawful act or activity.

Notice of Qualification of UTILITY NYCLLC. Authority filed with Secy. of Stateof NY (SSNY) on 02/19/13. Officelocation: NY County. LLC formed inDelaware (DE) on 02/07/13. Princ.office of LLC: 2373 Broadway, #1408,NY, NY 10024. SSNY designated asagent of LLC upon whom processagainst it may be served. SSNY shallmail process to c/o David Cohen atthe princ. office of the LLC. DE addr.of LLC: 2711 Centerville Rd., Ste. 400,Wilmington, DE 19808. Arts. of Org.filed with DE Secy. of State, 401Federal St., #3, Dover, DE 19901.Purpose: Any lawful activity.

NOTICE OF FORMATION OF JattiaLLC. Arts of Org filed with Secy ofState of NY (SSNY) on 9/25/12.Office location: NY County. SSNYdesignated as agent upon whomprocess may be served. PO addressto which SSNY shall mail copy ofprocess against LLC: US CorpAgents, Inc., 7014 13th Ave, Ste 202,Bklyn, NY 11228. Principal businessaddress: 395 S End Ave, 23K, NY,NY 10280. Purpose: any lawful act.

NOTICE OF FORMATION OFHAIRODD’S LLC. Arts of Org filedwith Secy of State of NY (SSNY) on1/18/13. Office location: NY County.SSNY designated as agent uponwhom process may be served andshall mail copy of process againstLLC to: US Corp Agents Inc., 701413TH AVE, STE 202 BKLYN, NY11228. Principal business address:400 W 56 ST, #1G, NY, NY 10019.Purpose: any lawful act.

NOTICE OF FORMATION OFELVIDGE CONSULTING, LLC.Articles of Organization filed withthe Secretary of State of NY (SSNY)on JAN 18 2013. Office location:NEW YORK County. SSNY hasbeen designated as agent uponwhom process against it may beserved. The Post Office address towhich the SSNY shall mail a copy ofany process against the LLC servedupon him/her is: 15 BROAD STREET,UNIT 3522, NEW YORK, NY 10005.The principal business address of theLLC is: 15 BROAD STREET, UNIT3522, NEW YORK, NY 10005.Purpose: any lawful act or activity.

Notice of Formation of The NamdexGroup, LLC. Arts. of Org. filed Secy.of State of NY (SSNY) on 12/14/12.Office location: NY County. SSNYdesignated as agent of LLC uponwhom process against it may beserved. SSNY shall mail process to:The Namdex Group, LLC 44 WallStreet, 12th Fl., NY, NY 10006.Purpose: any lawful activity.

SCOTT SILVERSTEIN MANAGEMENTLLC Articles of Org. filed NY Sec. ofState (SSNY) 12/11/12. Office in NYCo. SSNY desig. agent of LLC uponwhom process may be served. SSNYshall mail copy of process to OneSouth Rd., Port Washington, NY11050. Purpose: Any lawful purpose.Principal business location: 260 W.39TH St., NY, NY 10018.

Name of LLC: Adoro Lei, LLC. Arts.of Org. filed with NY Dept. of State:2/22/13. Office loc.: NY Co. Sec. ofState designated agent of LLC uponwhom process against it may beserved and shall mail process to: c/oBusiness Filings Inc., 187 Wolf Rd.,Ste. 101, Albany, NY 12205, regd.agt. upon whom process may beserved. Purpose: any lawful act.

Notice of Qualification of APOLLOADVISORS (MHE), LLC. Authority filedwith Secy. of State of NY (SSNY) on02/28/13. Office location: NY County.LLC formed in Delaware (DE) on02/26/13. Princ. office of LLC: Attn:John J. Suydam, 9 W. 57th St., 43rdFl., NY, NY 10019. SSNY designatedas agent of LLC upon whom processagainst it may be served. SSNY shallmail process to the LLC at the addr.of its princ. office. DE addr. of LLC:c/o Corporation Service Co., 2711Centerville Rd., Ste. 400, Wilmington,New Castle Cnty., DE 19808. Arts. ofOrg. filed with The Secy. of State ofthe State of DE, Dept. of State, Div.of Corps., John G. Townsend Bldg.,401 Federal St., Ste. 4, Dover, DE19901. Purpose: Any lawful activity.

Coolabah Ventures LLC - Arts. of Org.filed with Secy. of State of NY (SSNY)on 1/16/13. Office location: New YorkCounty. SSNY designated as agentof LLC upon whom process againstit may be served. SSNY shall mailprocess to c/o Ganfer & Shore, LLP,360 Lexington Ave., 14th Fl, NY, NY10017. Purpose: any lawful activities.

NOTICE OF QUALIFICATION ofMARKETING DRIVE, LLC. Authorityfiled with Secy of State of NY (SSNY)on 2/6/13. Office location: NY County.LLC formed in IL on 3/29/07. SSNYdesignated agent upon whom processmay be served and shall mail copy ofprocess against LLC to office requiredto be maintained in jurisdiction offormation: c/o Melvin J. Fein 1155 SWashington St Ste 204 Naperville IL60540. Cert of LLC filed with Secy ofState of IL located: Dept of BusinessServices Limited Liability Div Rm 351Howlett Bldg 501 S 2nd St. SpringfieldIL 62756. Purpose: any lawful act.

Notice of Formation of COHENFASHION OPTICAL STORE NO. 235,LLC. Arts. of Org. filed with Secy. ofState of NY (SSNY) on 02/13/13.Office location: NY County. SSNYdesignated as agent of LLC uponwhom process against it may beserved. SSNY shall mail process toSusan Goldberg, c/o Cohen’s FashionOptical, 100 Quentin RooseveltBlvd., Ste. 400, Garden City, NY11530. Purpose: Any lawful activity.

NOTICE OF FORMATION OF Twitcast,LLC. Arts of Org filed with Secy ofState of NY (SSNY) on 10/23/12.Office location: NY County. SSNYdesignated as agent upon whomprocess may be served and shallmail copy of process against LLC toprincipal business address: 340 SLemon Ave, #6151, Los Angeles, CA91789. Purpose: any lawful act.

NOTICE OF FORMATION OF 6PSGroup, LLC. Arts of Org filed with Secyof State of NY (SSNY) on 10/23/12.Office location: NY County. SSNYdesignated as agent upon whomprocess may be served and shallmail copy of process against LLC toprincipal business address: 340 SLemon Ave, #6151, Los Angeles, CA91789. Purpose: any lawful act.

Notice of Qualification of Vendata LLC.Authority filed with Secy. of State ofNY (SSNY) on 2/20/13. Office location:NY County. LLC formed in Delaware(DE) on 5/21/12. SSNY designated asagent of LLC upon whom processagainst it may be served. SSNYshall mail process to: The LLC, 40Fulton St., 11th Fl., NY, NY 10038,also the principal office. Address tobe maintained in DE: The CorporationTrust Company, Corporate TrustCenter, 1209 Orange St., Wilmington,DE 19801. Arts of Org. filed with theDE Secretary of State, 401 FederalSt., Dover, DE 19901. Purpose: anylawful activities.

Notice of Formation of 14 OverlookLLC. Arts. of Org. filed with NY Dept.of State on 2/28/13. Office location:NY County. Sec. of State designatedagent of LLC upon whom processagainst it may be served and shallmail process to the principal businessaddress: c/o Bessemer Trust, 630Fifth Ave., NY, NY 10111, Attn: WilliamWeber. Purpose: any lawful activity.

Notice of Qualification of BlueMeridianCapital, LLC. App. for Auth. filedSecy. of State of NY (SSNY) on3/5/13. Off. loc.: NY County. LLCformed in Delaware (DE) on 1/17/13.SSNY designated as agent of LLCupon whom process against it maybe served. SSNY shall mail processto: 280 Park Avenue, 5th Fl., NY, NY10017. DE address of LLC: c/oCorporation Service Company, 2711Centerville Rd., Ste. 400, Wilmington,DE 19808. Arts. of Org. filed DESecy. of State, 401 Federal St., Ste.4, Dover, DE 19901. Purpose: anylawful act or activity.

NOTICE OF FORMATION OF VMPGROUP, LLC. Articles of Organizationfiled with Secretary of State of NY(SSNY) on 10/25/12. Office Location:NY County. SSNY designated asagent upon whom process may beserved and shall mail copy ofprocess against LLC to principlebusiness address: 1500 Broadway,Suite 2013, NY, NY 10036. Purpose:Any lawful act.

HASH BASS LLC, a domestic LLC,Arts. of Org. filed with the SSNY on1/23/13. Office location: New YorkCounty. SSNY is designated as agentupon whom process against the LLCmay be served. SSNY shall mailprocess to: Bourke, Flanagan & Asato,P.C., 21 S. Main St., Southampton,NY 11968. General Purposes.

Notice of formation of LLC. Name:FlipIntros LLC. Arts. of org. filed withSec. of St. of NY (SSNY) 3/8/13. Officeloc. NY County. SSNY designatedas agent of LLC upon whom processagainst it may be served. SSNYshall mail copy of process to: TheLLC, 201 W 72nd St, 8I, NY, NY10023. Purpose: Any legal purpose.

Notice of Qualification of 200 WEST72 BUILDING SERVICES LLC.Authority filed with Secy. of State of NY(SSNY) on 03/08/13. Office location:NY County. LLC formed in Delaware(DE) on 03/08/13. Princ. office of LLC:810 7th Ave., 40th Fl., NY, NY 10019.SSNY designated as agent of LLCupon whom process against it may beserved. SSNY shall mail process toc/o Corporation Service Co., 80 StateSt., Albany, NY 12207-2543. DE addr.of LLC: 2711 Centerville Rd., Ste. 400,Wilmington, DE 19808. Arts. of Org.filed with Secy. of State, DE, 401Federal St., Ste. 4, Dover, DE 19901.Purpose: Any lawful activity.

MANHATTAN DAILY LIFE LLC, adomestic LLC, Arts. of Org. filedwith the SSNY on 2/13/13. Officelocation: New York County. SSNYis designated as agent upon whomprocess against the LLC may beserved. SSNY shall mail process to:Terri Amerkick, 80 John St., Apt. 4I,NY, NY 10038. General Purposes.

Application For Authority of OwensRealty Network, LLC. filed withSecretary of State of NY (SSNY) on2/4/13. Office location: NY County.LLC formed in FL on 2/4/10. SSNYdesignated agent upon whom processmay be served and shall mail copy ofprocess against LLC to: Davis &Davis, LLP 675 West End Ave, Suite1B, New York, NY 10025. Principalbusiness address of LLC: 228 NorthPark Ave, Suite L; Winter Park, FL.Articles of Organization filed withSecretary of State of FL located: 400S Monroe St, Tallahassee, FL 32399.Purpose: any lawful act.

Notice is hereby given that a licensenumber 1269395 for an On PremisesLiquor license has been applied forby the MEXIBBQ KITCHEN &DRAUGHT LLC under the AlcoholicBeverage Control Law for premiseslocated at 1631/1633 2nd Avenue, NewYork, New York 10028, County of NewYork, for on-premises consumption.

Notice of Formation of ArtBond LLC.Arts. of Org. filed with Secy. of Stateof NY (SSNY) on 03/15/13. Officelocation: NY County. Princ. office ofLLC: 66 Crosby St., #6D, NY, NY10012. SSNY designated as agent ofLLC upon whom process against itmay be served. SSNY shall mailprocess to Corporation Service Co.,80 State St., Albany, NY 12207-2543.Purpose: Any lawful activity.

nb12p36-38cl.qxp 3/22/2013 11:42 AM


NEW IN TOWN

Companies that would like to have detailsof openings published should submitdescriptions following this format [email protected], with“New in Town” in the subject line.

● Caramel Baby & Child1244 Madison Ave., ManhattanThe children’s apparel retailer opened onthe Upper East Side. It is the first U.S.store for the U.K. brand.

● DreamDry35 W. 21st St., ManhattanRachel Zoe’s first salon venture openedin the Flatiron district. The shop booked1,000 appointments its first week, andthere are plans to expand.

● Pearl & Ash220 Bowery, ManhattanThe bar and restaurant opened in theEast Village. The menu features classiccocktails, small plates and a smallselection of entrées.

● Sword-Smith98C South Fourth St., BrooklynThe clothing boutique opened inWilliamsburg. Its selection includespieces from emerging designers, as wellas an in-house line.

COMPANY MOVES

Companies that would like to have detailsof recent moves published should submitdescriptions following this format [email protected], with“Company Moves” in the subject line.

● Alibi236 Fifth Ave., ManhattanThe jewelry boutique relocated to anappointment-only showroom inmidtown. The previous location was inNoLita at 241 Mulberry St.

● Duane Park308 Bowery, ManhattanThe new-American restaurant andperformance space relocated to the EastVillage. The previous location was at157 Duane St. in TriBeCa.

● Steven Alan Home Store158 Franklin St., ManhattanThe retail brand opened in TriBeCa. Itis the first home-goods store for thecompany, and its sixth Manhattanlocation.

BANKRUPTCIES

The following listings are selected from themost recent available filings by companiesseeking bankruptcy protection in theSouthern and Eastern Districts of NewYork. Information was obtained from U.S.Bankruptcy Court records available onPublic Access to Court Electronic Records.Listings are in alphabetical order.

● 2700 Jerome Ave. Realty Corp.2700 Jerome Ave., BronxFiled for Chapter 11 bankruptcyprotection on March 10. The filing citesestimated liabilities of $1,000,001 to $10million and estimated assets of$1,000,001 to $10 million. The creditorwith the largest unsecured claim isLawrence J. Berger, owed $3,099.

● 4191 High Design Corp.4193 Broadway, ManhattanFiled for Chapter 11 bankruptcyprotection on Feb. 28. The filing citesestimated liabilities of $50,001 to$100,000 and estimated assets of$50,001 to $100,000. The creditors withthe largest unsecured claims are PranaGrowth, owed $67,000; Daly Gonzalez,owed $5,000; and C.O.D. Friendly,owed $4,250.

● Gowanus Inn Inc.311 W. Broadway, ManhattanFiled for Chapter 11 bankruptcyprotection on March 5. The filing citesestimated liabilities of $1,000,001 to $10 million and estimated assets of$1,000,001 to $10 million. The creditorwith the largest unsecured claim isDeborah Riggi, owed $30,000.00.

● JEAD Auto Supply Inc.1810 East Tremont Ave., BronxFiled for Chapter 11 bankruptcyprotection on March 14. The filing citesestimated liabilities of $1,000,001 to $10 million and estimated assets of$1,000,001 to $10 million. The creditorswith the largest unsecured claims areNew York Finance, owed $84,297.04;New York State Taxation, owed$35,797.11; and American Express,owed $34,920.

● Three Easy Pieces945 West End Ave., ManhattanFiled for Chapter 7 bankruptcyprotection on March 7. The filing citesestimated liabilities of $50,001 to$100,000 and estimated assets of $0 to$50,000. The creditors with the largestunsecured claims are Cool Gray Seven,owed $34,096.28; Farrell Fritz, owed$16,602.78; and Social Market andBranding, owed $7,600.

GOVERNMENT CONTRACTOPPORTUNITIES

Following are selected contractopportunities recently announced by NewYork City agencies. To learn how to sellgoods and services to city government, visitwww.nyc.gov/selltonyc. For a searchabledatabase of current procurement notices,visit www.nyc.gov/cityrecord. Listings arealphabetical by category and department.

CONSTRUCTION SERVICES● Department of Design and ConstructionSeeks competitive bids by 2 p.m. onApril 23 for construction at the LindenPlace parking lot at Flushing TownHall. There will be an optional prebidwalk-through on April 9 at 10 a.m. atthe parking lot, 34-56 Linden Place,Flushing. For more information or toobtain bid documents, contact BenPerrone at (718) 391-2200.

● Department of TransportationSeeks competitive sealed bids by 11 a.m.on May 15 for the protective coating ofvarious bridges in the Bronx. Biddocuments are available for a deposit of$50, payable only by certified check ormoney order made out to NYC DOT.An optional prebid conference will takeplace at 10 a.m. on April 10 at 55 WaterSt., eighth floor, room 809B. To makeinquiries or to obtain bid documents,contact Mark Lenkovskiy at (212) 839-6347 or the bid window at (212) 839-9435.

● School Construction AuthoritySeeks competitive sealed bids by 10 a.m.on April 8 for an auditorium upgrade atP.S. 38 in Manhattan. Bid documentsare available for a fee of $100, payableonly by certified check or money ordermade out to NYC School ConstructionAuthority. To make inquiries or toobtain bid documents, contact EdisonAguilar at (718) 472-8641 [email protected].

GOODS AND SERVICES● Department of EducationSeeks competitive sealed proposals by 4 p.m. on May 29 for the repair andplacement of stone steps. There will be aprebid conference at 11 a.m. on April 30at 65 Court St., 12th floor, conferenceroom 1201, in Brooklyn. To makeinquiries or to obtain bid documents,contact the Vendor Hotline at (718)935-2300 or [email protected]. The bid opening date will beMay 30 at 11 a.m.

● Office of Labor RelationsSeeks competitive sealed proposals by4:30 p.m. on April 19 for a vendor toprovide daily or as-necessary liquiditythrough the use of a low-durationwrapped bond portfolio. To beconsidered, vendors must submit theirproduct information, as applicable, onMercer’s Global InvestmentManagement Database atwww.mercergimd.com. Vendors notalready registered should call Jay Livnatat (212) 345-2719 for a user ID andpassword to access the database. Forother inquiries, please contact GeorgetteGestely at (212) 306-7376.

● Health and Hospitals Corp.Seeks competitive sealed bids by 10 p.m.on April 11 for telephone answeringservices. To make inquiries or to obtainbid documents, contact Shakeel Daniyalat (212) 442-3890 or [email protected].

● Human Resources AdministrationSeeks competitive bids by 3 p.m. onApril 16 for daily mail pickup anddelivery services in Brooklyn. Anonmandatory prebid conference will beheld on March 28 at 2 p.m. at 180 WaterSt., seventh-floor conference room,Manhattan. For more information or toobtain bid documents, contact DonnaWilson at (212) 331-4843 [email protected].

REAL ESTATE DEALS

Companies that would like to have detailsof their recent transactions appear in theselistings should email descriptions followingthis format to [email protected], with “Real estate transaction” in thesubject line, or enter them online atcrainsnewyork.com/submitadeal. Deals arelisted in order of square footage.

COMMERCIAL● Heidell Pittoni Murphy & Bachsigned a 10-year lease for 30,000 squarefeet on the seventh floor at 99 Park Ave.The law firm was represented byMichael Leff of Avison Young. Thelandlord, Eastgate Realty, wasrepresented by Diana Biasotti and PaulGlickman of Jones Lang LaSalle. Theasking rent was undisclosed.

● TGM Associates signed a 10-yearlease for 11,300 square feet at 650 FifthAve. The investment advisory firmrenewed its lease for the 28th floor ofthe 36-story building. The tenant wasrepresented by Michael Goldman andDan Posey of Studley. The landlord, 650Fifth Avenue Co., was represented byZachary Freeman, Paul Haskin andRobert Stillman of CBRE Group Inc.The asking rent was undisclosed.

RETAIL● MUJI signed a lease for 8,600 squarefeet at 52 Cooper Square. The Japaneseretail company will open its fifth NewYork location. The tenant wasrepresented by Chris Okada of Okada &Co. The landlord, 52/54 CSQ Realty,was represented by Henry Goldfarb andStanley Lindenfeld of Lee & Associates.The asking rent was $100 per squarefoot.

● Dare Devil Tattoo signed a 10-yearlease for 1,100 square feet at 141 DivisionSt. The tattoo parlor is relocating fromits current space on Ludlow Street,where it has been for 10 years. Thetenant and the landlord wererepresented by Anand Melwani ofARM Real Estate Group. The askingrent was $90 per square foot.

● Orange Leaf signed a lease for 1,000square feet at 345 Adams St., its firstlocation in Brooklyn. The frozen-yogurtchain already has six stores throughoutManhattan and Staten Island. Thetenant was represented by Adam Frisch,Henry Goldfarb and StanleyLindenfeld of Lee & Associates. Thelandlord, Muss Development, wasrepresented by Ariel Schuster and BrianSegall of RKF. The asking rent wasundisclosed.

STOCK TRANSACTIONS

Following are recent insider transactions atNew York’s largest publicly held companies

filed with the Securities and ExchangeCommission by executives and majorshareholders. Listings are in order oftransaction value. The information wasobtained from Thomson Reuters.

● Hertz Global Holdings Inc. (MA)Bank of America Corp. sold 23,983,399shares of common stock at $20.14 onMarch 12, in a transaction worth$483,025,664. It now indirectly owns6,743,060 shares.

Clayton Dubilier & Rice Fund VII sold13,909,100 shares of common stock at$20.14 on March 12, in a transactionworth $280,129,280. It now indirectlyowns 16,649,600 shares.

CDR CCMG Co-Investor sold5,078,480 shares of common stock at$20.14 on March 12, in a transactionworth $102,280,584. It now indirectlyowns 6,079,060 shares.

● Tiffany & Co. (TIF)Qatar Investment Authority sold2,139,119 shares of common stock at prices ranging from $68.80 to $70.25 between March 4 and March 8, in a transaction worth$149,293,792. It now indirectly owns14,942,300 shares.

● Tal International Group Inc. (TAL)Resolute Fund Partners sold 3,321,960 shares of common stock at$42.90 on Feb. 26, in a transactionworth $142,512,080. It now holds noshares.

ABOUT THIS SECTIONFOR THE RECORD is a weekly listing of information from the public record thatcan help businesspeople in the New York area find opportunities, potentialnew clients and updates on competitors.

To ask questions or get more information on this section, contact Crain’sresearch department at [email protected].

DEALS ROUNDUP

ValueAct Capital/ $4,121.7 Kohlberg Kravis Roberts & Co. FB M&AGardner Denver Inc. (Manhattan)

HSBC Finance Corp., $4,000.0 Newcastle Investment Corp. SB M&AHSBC Retail Services (Manhattan), Springleaf Finance Inc.Inc./Portfolio of personalunsecured and personalhomeowner loans

Alamos Gold Inc., $759.4 Hecla Mining Co. SB M&AFonds régional desolidarité FTQAbitibi-Témiscamingue,Gestion SODÉMEX Inc.,Horizons InvestmentManagement Inc.,Societe de Developpementde la Baie James, Van EckAssociates Corp.(Manhattan)/AurizonMines Ltd.

Becker Drapkin $594.9 Sycamore Partners (Manhattan) FB M&AManagement, CarlsonCapital/Hot Topic Inc.

Not disclosed/ $160.0 The Peebles Corp. SB M&A346 Broadway

Clarion Partners $100.0 Prudential Real Estate Investors SB M&AAmericas (Manhattan)/100 Spear Street Owner’sCorp.

Not disclosed/ $89.0 Chetrit Group (Manhattan) SB M&A200,000-square-footformer Emigrant IndustrialSavings Bank Building

Acro Real Estate Ltd., $83.0 Not disclosed SB M&APolar Investments Ltd./Bryant Park Lot

Newport Federal Savings $61.6 SI Financial Group Inc. SB M&ABank ESOP, NewportfedCharitable Foundation endowment arm, Sandler O’Neill Asset Management(Manhattan)/NewportBancorp

Not disclosed/ $60.0 Access Industries Inc. (Manhattan), GCIBeats Electronics individual investors

Selected deals announced for the week ended March 9 involving companies in metro New York.FB M&A: Financial buyer M&A represents a minority or majority acquisition of existingshares of a company with the participation of a financial buyer. GCI: Growth capital investmentrepresents new money invested in a company for a minority stake. SB M&A: Strategic buyerM&A represents a minority or majority acquisition of existing shares of a company without theparticipation of a financial buyer. source: capitaliq

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

FOR THE RECORD


SMALL BUSINESS

BY ELAINE POFELDT

Hurricane Sandydrove home just howimportant it is forbusinesses in NewYork to put plans in

place to protect their operationsfrom big storms.

Unfortunately, many companiesacross the country fall short on thisfront. A 2012 study by Travelers In-surance found that 48% of business-es did not have a writtencontinuity plan or disaster-recovery document.

It can be hard to findtime for such efforts, butexperts say they can morethan pay for themselves. Awell-thought-out plan canprevent a costly disruptionthat, in some cases, maylead to lost customers—and busi-ness failure.

“If it extends to a point whereclients cannot do business, they willgo somewhere else. That’s what wesaw with Hurricane Sandy,” said

Steve Rubin, president of WorkIT-Safe, an IT firm in Brooklyn thatworks with many small andmedium-size firms.

It almost goes without sayingthat every business should meetwith a good broker to make sure ithas the right kinds of insurance.Here are some other tips from entre-preneurs and experts on how to pro-tect your business—before the nextbig storm hits.

� Do a risk assessment. Each busi-ness has its own major vulnerabili-ties,whether it’s proximity to a bodyof water that may cause flooding oran older roof that could be damagedby heavy snow.

Taking stock when you’re not inthe midst of a crisis will help you de-vise the best strategy for preventing

damage and disruption.“We see quite a bit of evi-dence that folks are notspending enough timethinking about their busi-ness continuity plans,” saidJim Gustin, senior proper-ty specialist in the risk con-trol department at Travel-ers Insurance,which has an

office in New York.� Set priorities. The costs for a

business continuity plan can easilyspiral out of control if you try to ad-dress every possible worst-case sce-nario. To focus your efforts, ask

yourself, “What functions orprocesses of the business are criticalto its survival?” suggested Mr.Gustin.

Making sure you can take phonecalls is crucial at most businesses.When phone service was disruptedby the superstorm, the law offices ofAaron I. Katsman, a 45-person firmin Valley Stream, L.I., that workswith clients around the country in-cluding banks and lenders in Man-hattan, forwarded calls to a second-ary site where phones were working.

Clients had no trouble reaching thefirm. “They were able to communi-cate with our office the entire weekwithout noticing any interruptionwhatsoever,” said Mr. Katsman.

� Figure out how you’ll get work done.Finding an alternative work site af-ter a big storm can be hard, especial-ly if you have limited phone and In-ternet access, so scout around early.Make sure that your team knowshow you’ll tell them about a tempo-rary site if your usual communica-tion systems go down.

After securing temporary spaceat Quest Workspaces in Manhat-tan,Foursquare used social media totell its team, said Laura Ko-zelouzek, chief executive andfounder of Quest. “By the nextmorning, all of their people knewwhere to go to get work done,” shesaid.

� Plan for the possibility that employ-ees won’t be able to get around—or enteryour building. Long before HurricaneSandy, Mr. Katsman’s firm hiredMr. Rubin to set up a virtualizedserver that would allow all employ-ees to access their documents se-curely from their home computers ifnecessary.“We can’t have a situationwhere we have significant work out-ages,” Mr. Katsman said.

His team used that system,which is built around MicrosoftWindows Server 2012, to log on theday after the storm hit and the oth-er four days their building wasclosed.The firm’s files are backed upoffsite every five minutes, so work-ers had all of the documents theyneeded, he said.

� Toot your horn. Once you’ve got asmart continuity plan in place, letcustomers and prospects know. “Itgives them a high level of securityand service they wouldn’t normallyhave with an office of our size,” saidMr. Katsman. “It’s a selling pointwith potential clients.” �

Extreme disaster planning pays off


Early reconnaissancehelped local firms getback to work quicklyafter the superstorm

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SMALL BUSINESS newsletter, go to

www.crainsnewyork.com/smallbiz.

7AVERAGENUMBER OFDAYS it tooktristatebusinessesshuttered bySandy to reopenSource: The Hartford

SANCTUARY: Laura Kozelouzek’s Quest Workspaces filled up after Hurricane Sandy.

There’s also familiarity and anestablished network.Fellow Israelis,for instance, have helped Mr. Rokniand his family with advice on hous-ing, schools, restaurants—and invi-tations to two Purim parties.

On the business side, there has al-ways been a good match between Is-raeli programming expertise and theneeds of New York industries.Coders trained by the military in datamining and encryption have gone onto develop cutting-edge securitysoftware used by New York financialfirms. Likewise, skills in targetingand data analytics have made Israelisplayers in the city’s ad-tech industry.

Furthermore, as a world capitalof fashion, advertising and media,New York has become home to thekind of startups increasingly comingout of Israel—companies that areless about Internet infrastructureand more about its consumer andbusiness uses. And with their ex-pertise in the areas of marketing andsales, New Yorkers can help Israelisgrow their businesses globally.

“There is talent [here] that is miss-ing in Israel,” said Micha Kaufman,founder of the three-year-old online-services marketplace Fiverr, based inTel Aviv, which opened an office onPark Avenue South at the beginningof March. Mr. Kaufman’s first localhire was a former marketing executivefrom e-commerce site Gilt.

One thing Israeli companies don’tcome to New York for is engineers.

Executives insist that they keep theirR&D teams in Tel Aviv partly be-cause relocating people is expensive,but mainly because they considerIsraeli engineers to be better.

“The only other place you can getthat talent is in Silicon Valley,whereit would be 30% to 40% more expen-sive, and people might always jumpship and move across the street be-cause there’s a new hot startup,” saidShay David, co-founder and chiefrevenue officer of Kaltura, an open-

source video platform that employs80 engineers in Tel Aviv and 30 inNew York.

Practical knowledgeIn addition to working on so-

phisticated systems, programmerstrained in the military develop apractical approach to problem solv-ing, said Idan Cohen, a co-founderof Boxee, a media-player softwareplatform. He and three otherfounders of the New York firm

learned programming in the Israeliarmy and never went to a university.

Engineers who do go to a univer-sity tend to come out better trained,on average, than their counterpartsin the U.S., according to CraigGotsman, a professor at theTechnion-Israel Institute of Tech-nology. He is also founding directorof the Technion-Cornell Innova-tion Institute, a partnership withCornell that is part of the new ap-plied sciences graduate school slat-

ed for Roosevelt Island.“Our universities are teaching

technology nonstop,” Mr. Gotsmansaid. “In the U.S., for a typical engi-neering degree, liberal arts are mixedin, which is a good thing. But if youlook at the end product, [Americangraduates] are less prepared than thetypical Israeli graduate.”

On the leading edgeKaltura’s Mr. David and others

are hopeful that the institute, alongwith new programs at NYU-Polyand other campuses, will eventuallyprovide New York with a bigger poolof advanced talent. In the mean-time, the city is on the cutting edgein other ways.

Benzi Ronen, co-founder ofFarmigo, recently moved to NewYork from San Francisco to set up aheadquarters location for his three-year-old company, which connectsconsumers online with local organicfarmers.The startup is currently op-erating out of co-working spaces inManhattan and San Francisco, withits engineering team in Tel Aviv.

Mr.Ronen hopes to find a build-ing where other food-related com-panies can also be based,and he’s de-termined that it be in Brooklyn.

“We need to be in a place wherewe see innovation around localfood,” said the Farmigo chief execu-tive.“As far as local food artisans andthe culture of eating healthy and lo-cal—Brooklyn is leading the way.”�

Israeli startups see NYC as promised landContinued from Page 4

buck

enn

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PART OF THE WAVE: ItayRokni (left) and GilDudkiewicz of StartAppknew from the start they hadto be in New York. That’s onereason why theyincorporated in the U.S.

To sign up for Crain’s

DIGITAL NY newsletter, go to

www.crainsnewyork.com/newsletters.


said Mr. Woinski—half of what theracinos cough up.

At the same time, the new casi-nos could cannibalize the racinos’business, just as proliferating casi-nos are doing to each other in Penn-sylvania and other Northeasternstates. A loss of business by high-earning racinos could cause thestate’s gambling tax revenue toplummet.

“One of the big decisions stateshave to make is tax revenue versusjobs,” said Clyde Barrow,a professorand gambling expert at the Univer-sity of Massachusetts. “Right now,New York is going with the model ofcheaper racinos and more revenue,but fewer jobs.”

City eyed by pols, industryThat possibility heightens the

drama as lawmakers iron out legis-lation to site up to seven casinosaround the state.The bill would takeeffect only if voters approve astatewide referendum in Novemberto legalize casino gambling.

Gov. Andrew Cuomo has pro-posed putting three initial casinosnorth of Putnam County, but nonein New York City “for the foresee-

able future.” That could allow thestate to accomplish dual policy ob-jectives: create jobs in suffering up-state economies while keeping casi-nos relatively far away from theResorts World and Empire Citycasinos—the racinos at AqueductRacetrack and Yonkers Raceway, re-spectively.

Still, some legislators are eyeingdifferent plans, including locating acasino in the population-rich fiveboroughs. That’s where Las Vegasand international casino giants aremostly interested in building luxurycasinos. Opposing that idea isGenting, the Malaysian giant thatowns Resorts World. It argues thatbreaking its exclusive grip on thecity will ding the state budget by di-verting gamblers from its highlytaxed Queens racino. (Of course,Genting wouldn’t object if the stateturned its venue into a full-borecasino.) Big Las Vegas gaming in-terests like Wynn Resorts, MGMand Las Vegas Sands counter thatthe city market can support multiplevenues.

A recent MGM-funded study,conducted by HR&A Advisors,found that state tax revenue fromdownstate gambling could be fiveor six times greater than the current$1 billion. It also found that about$2 billion from New York gamblerswas going to casinos in other states.MGM argues that the city market

has enough demand to handlethree new casinos, plus ResortsWorld.

Those facilities would also pro-duce hefty payroll and sales-taxrevenue from construction jobs,free-spending tourists and tablegames, which generate much high-er revenue than electronic games.

Plenty to go aroundAs states across the country have

legalized gambling, they have gen-erally located casinos to steal busi-ness from other states while protect-ing their own casinos, according to astudy conducted by Marcy Block, asenior director at Fitch Ratings. IfNew York legislators site a casino inthe city in addition to the racino inQueens, it would be under the beliefthat there is enough business forboth.

“You’re still seeing [gamblers]from New York right now going toNew Jersey and Pennsylvania—anda lot of them would stay in New YorkCity with a casino there,” Ms. Blocksaid. �

Casino competition could ding tax revenueContinued from Page 3

ing Mayor Michael Bloomberg’sproposed rezoning, designed tousher in a new generation of larger,more efficient buildings,the report’sconclusions add a powerful environ-mental rationale to that effort.

According to the report, a build-ing that is torn down can be rebuiltwith 44% more square footage andstill use 5% less energy. The bottomline is that the energy needed to teardown and rebuild a tower could beoffset by energy savings from thenew structure in 15 to 28 years.

“The tragedy of these [midcen-tury modern] buildings is that theycan’t be adapted,” said Bill Brown-ing, a co-founder of Terrapin BrightGreen,the consulting firm that con-ducted the report, whose sponsorsranged from the New York StateEnergy Research and DevelopmentAuthority, to architecture firmCookFox and the Real Estate Boardof New York, the powerful land-lords’ group.

First off, the single-glazed cur-tain walls that represented theheight of modernity in the 1950swere often cheaply produced and

typically leak heat like a sieve.What’s more, the structures are of-ten too frail to support state-of-the-art, energy-efficient, double- ortriple-glazed glass. While LeverHouse, the landmark glass-box of-fice building at 390 Park Ave., wassuccessfully retrofitted recently, itrepresents a rare exception. Built asa corporate headquarters in 1952, itwas constructed to a far higherstandard than many of the scores ofnameless knockoffs that came later.

Outdated HVACsThose cheaper glass towers fre-

quently have outdated heating,cooling and ventilation systems, bywhich a constant volume of air iscooled and pumped into the build-ing. If some offices need to bewarmed up, the air-conditioned airis reheated.The report calls this sys-tem “analogous to driving a car withthe accelerator pushed to the floorand controlling one’s speed with thebrakes.”

The main reason many ineffi-cient old buildings have outlivedtheir expected life spans is becausethey are significantly bigger than

what would be permitted under cur-rent zoning, Mr. Browning said.

“If you’re going to rebuild, youhave to rebuild bigger to cover theexpenses of having emptied thebuilding out and cover the new con-struction,” he explained.“The ques-tion becomes, can you do that in away that doesn’t have a negative im-pact on the environment? And theanswer we discovered in our re-search was yes.”

A prime example of the sort ofenergy-oozing building the report isaddressing is the 47-year-old, 32-story glass box at 675 Third Ave.,the first tower constructed by devel-oper Douglas Durst after the ThirdAvenue El was torn down in the1950s. The building is well-cared-for Class-A office space, has nomortgage and is about 80% full. Italso has little in the way of exteriorinsulation.

“We’d consider tearing thatbuilding down if it made economicsense,” said a Durst Co. spokesman.

The report concludes that it doesindeed make sense. A developercould end up with a building thathouses almost twice as many peopleby using space more efficiently—anddemands about half the energy percapita.

Preservationists argue, however,

that midcentury glass towers are thevery definition of midtown.

“These buildings were incrediblyinteresting developments, built forthe expectations of 1950s corporateAmerica,” said Simeon Bankoff, ex-ecutive director of the Historic Dis-tricts Council. “They should be se-riously considered for preservation.”

Some of them are already pro-tected, such as the Lever House andthe 1958 Seagram Building, acrossthe street on Park Avenue. Leadersof REBNY and other real estate in-dustry groups have argued that itmakes sense to preserve such mas-terpieces but not scores of unre-markable copycats. �

Landmark battle Continued from Page 3


PHILLY PLANTARGETS NYCIF NEW YORK LAWMAKERS don’tsite a casino in the city, well, thatwould be fine with Pennsylvania.

The Keystone State, whichlegalized table games in 2010,has quickly become saturatedwith casinos. Now the biggest oneis looking to draw customers fromits neighbors to the east—inparticular New York City. For thefirst time, Parx Casino andRacing, located 17 milesnortheast of Philadelphia nearthe Delaware River, is about tolaunch a $3 million adcampaign targeting NewYorkers inclined to gamble atthe nearest casino.

“New Yorkers are obsessedwith time, and this is only a veryshort drive away,” said JohnBarker, the founder of Manhattan-based ad agency Barker DZP,which designed the new ads.

The marketing campaign toutsthat the Parx casino is within100 miles of New York City—closer than Atlantic City, N.J., theFoxwoods Resort Casino ineastern Connecticut and otherout-of-state options. AlthoughResorts World Casino is doinggreat business in southeastQueens, New York’s constitutionforbids it or any racino in the statefrom using live dealers, whichmany gamblers see as essentialfor a full casino experience.

The Parx ads are running onMetro-North and New JerseyTransit systems, hyperlocal newsoutlets and city radio stations. TVspots, riffing off a couple’s firstdate, say, “Get lucky in no time.”

—CHRIS BRAGG

JACKPOTS! ANNUAL CASINO REVENUE AND TAXES PAID

NEVADA$10.9billion

Revenue

$868 million Taxes

NEW YORK$1.8 billion

Revenue

$1.2 billion Taxes

PENNSYLVANIA$3.1 billion

Revenue

$1.4 billion Taxes

Sources: Associated Press, Nevada Gaming Commission, U.S. News and World Report, AmericanCasinoGuide.com, New York Post

Racetrackgamblingvenues havebecome cashcows for NY

NEW JERSEY$3 billion

Revenue

$235 million Taxes

NEW JERSEY$3 billion

Revenue

$235 million Taxes

PENNSYLVANIA$3.1 billion

Revenue

$1.4 billion Taxes

NEVADA$10.9billion

Revenue

$868 million Taxes

NEW YORK$1.8 billion

Revenue

$1.2 billion Taxes

WANTED: BIZ VOLUNTEERSTHE GREATER NEW YORK COUNCILS’ EXPLORING PROGRAM is seekingbusinesses to host educational sessions offering high-school students theopportunity to explore various industries and make better decisions aboutpossible career choices.

The Exploring program puts together groups of 15 to 25 students interestedin specific fields, such as journalism, computers, law or restaurant operations.

The student groups meet at the host businesses after school for severalsessions, learning about career ladders, educational requirements, salaryscales and what people in their selected fields actually do. Businesses oftenarrange special projects for the students, such as preparing marketingmaterials for a product, designing the concept for a new restaurant, engagingin moot courts and the like.

Programs start throughout the year, and the timing is tailored to fitbusiness schedules. Participating companies include Brookdale MedicalCenter, Silvercup Studios, STV Construction, Credit Suisse, PeninsulaHospital and American Management Association.

For more information on participating in the program, please call Exploringdirector Will Montanaro at (212) 651-2883, email him at [email protected] or visit www.nyexploring.org.


INSIDESource LunchA documentarian’s point of view PAGE 42Out and AboutPop Art retrospectives atthe Whitney PAGE 43

BY ALIX STRAUSS

On a Saturday afternoon this month, more than 150 ticket holders deckedout in 1930s costumes lined up outside a “hidden” club off DelanceyStreet.To gain entry, the revelers had to utter a secret password—“cannoli.” Once inside, they followed actors through a number of roomstrying to figure out the mysterious storyline. ¶ The attraction? A showcalled Speakeasy Dollhouse, one of Manhattan’s newest interactive theaterexperiences. ¶ “Why watch a performance when you can be part of it?”said Cynthia Von Buhler, the creator, producer and director of Dollhouse,

which is based on the murder of her grandfather Frank Spano, who was killed outside a onetimeManhattan speakeasy in 1935. ¶ Speakeasy Dollhouse, which was recently extended because of highdemand, is one of a growing number of off-off-Broadway productions popping up around the cityin which the audience doesn’t sit down and watch the action onstage. Instead, theatergoers are partof the play like the real actors, allowing them to experience the show on a higher level. ¶ The shows,which usually take place in offbeat venues replete with secret hallways

Books on Callon the roadBookstores may be closing rightand left under the e-bookonslaught, but a sort of travelingbookstore came back to life earlierthis month with the launch ofBooks on Call NYC.

The company, which sellsbooks at author readings andother events, is the successor toMobile Libris, which shut downin December when its owner,Sharon Preiss, retired.

“Someone was going to swoopin and fill that niche,” said Bookson Call founder Andrea Shane, aformer actress and casting directorwho worked for Ms. Preiss fornearly three years. “And I thought,who better than me, since I knowthe business.”

Ms. Shane will use some of thesame freelancers as herpredecessor to ferry books, credit-card machines and cash banks toreadings around the city. There isone change, however: She will becharging a $100 fee, which she’llwaive if sales top $600. “If I don’tcharge, it starts to become acharitable operation,” Ms. Shanesaid, explaining that e-books havehurt the mobile booksellingbusiness, too.

—matthew flamm

Drink the kinkIt is a very kinky case of kismet.The marketing team for KinkyBoots was looking for promotionalpartners for the new Broadwaymusical, and stumbled upon KinkyLiqueur, just as the spirit waspreparing to launch in New York.

A partnership was born, and anew cocktail was created: KinkyBubbles is a combination of lemonjuice, Prosecco and KinkyLiqueur, which is a vodka distilledwith mango, passion fruit andblood-orange liqueur.

The concoction is available atthe Al Hirschfeld Theatre, wherethe show, about a strugglingBritish shoe factory that startsmaking boots for transvestites,opens next month.

Kinky Liqueur debuted inNew York last month, and itsmaker hopes the combination of

the cocktail, thepromotional signs in thetheater and its presence atthe opening-night party

will help spread theword.

“It’s great exposureand a natural fit forus,” said Dan Whitmore,national sales managerof St. Paul, Minn.-based Crosby LakeSpirits Co., whichmakes Kinky Liqueurand will underwrite partof the party’s cost. Theshow “is fun and playful,and that’s the image wewant.”

—theresa agovino See AUDIENCES on Page 42

HELLUVA TOWN


Getting into the actInteractive theater experiences prove popular with

audiences—and producers

A TRIP TO THEMOLL: Cynthia VonBuhler’s (near left)popular SpeakeasyDollhouse recentlyextended its run at a“secret” location onthe Lower East Side.

2NUMBER of Madonna look-alikes appearing in TotallyTubular Time Machine

15MAXIMUM NUMBER ofaudience members allowedfor each performance of ThenShe Fell

buck

enn

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For 26 years, AmericanDocumentary Inc. hasbeen producing POV, awide-ranging, award-winning series for PBS.

Last month, it was one of 13 non-profits globally to receive a $1 mil-lion award from the MacArthurFoundation.

Simon Kilmurry has been execu-tive director of Brooklyn-basedAmerican Documentary since 2006.The Scottish-born 46-year-old sayspart of the award will be used to helpthe $3.5 million organization com-plete construction of a screeningroom and editing suites.

What else are you doing with the money?As a small nonprofit, we’ll have agood-size cash reserve, which iscrucial because it can [generate]revenue we can use to experiment.Wewant to see how documentaries canexpand beyond the broadcast space.

PBS will broadcast 15 POVdocumentaries this year. Howmany submissions do you get?We get 1,100 submissionsa year, and we have 25freelance filmmakers whohelp us review them. I,along with four others, willlook at the top 200 or so. Inthe fall, I convene an[outside] advisory panel,and we have them look atabout 40 films. The rule isthe staff just listens anddoesn’t say anything.Therewill be a film I think [thepanel] will love, and they’llsay it is the worst thing theyhave seen in years. That isthe most refreshing part ofthe process. You have to beopen to the differentresponses. Then I workwith my team and PBS tomake the final selection.You want the stories to resonate.

How is digital changing what you do?It has changed how people engagewith content. They aren’t tied to abroadcast schedule.You have to makeit available when they want it. We dospecial prereleases on PBS iPad appsto build momentum for a film. Andnot everything gets into a film. Digi-tal allows us to make what didn’t get ininto stand-alone pieces. We have afilm about young girls getting recruit-ed into the modeling industry. Wehave an infographic looking at the

economics of modeling on our site.

Last year, you started hosting weekend“hackathons.” What are they, and whyare you doing them?We bring together filmmakers withWeb designers, app designers,coders.Together they figure out howto best manifest the filmmaker’sidea, whether it is on the Web or thephone or whatever it might be. Wewant them to have a prototype of aproject that they could take to fun-ders for further development.

Do you think that certain subjects will bemore appealing to those who watchdocumentaries on TV versus those whowatch them on other platforms? No. I have given up trying to predictwhat will appeal to whom. Over theyears, there have been films we haveproduced that we think will appeal tothis segment of the population forthis reason. And then judging from

the response, you see itwasn’t so.That is part of thefun.

What documentaries havegenerated the most responsein recent years?The Oath, the issue of ter-rorism, is one that people,understandably, can have avery high emotional re-sponse to, especially whenit is nuanced and complex.Food,Inc.,an exploration ofthe industrialization ofagriculture that some peo-ple felt was attacking farm-ers. Anything to do withgay rights and Scoutingtouches a hot button.

How many documentaries doyou see a year? Hundreds. I don’t know.I’ve never counted. On [arecent] Monday night, I

watched films from about 7 p.m. to 1 a.m. I’ll do that three times a weekand then spend one day on the week-end watching films. I’m still sur-prised at how they can draw me in.I’ll start a film and I realize I’ve beenstanding for an hour while watchingit because it is so good.

What film has had that effect on yourecently? If I single one out,people will kill me.

Do you go to movies for fun? Yes. I even go to documentaries. �


A documentarian’sbroad point of view

Audiences get into the actand hidden stairwells, are fairly in-expensive and quick to produce.And there seems to be no end to thenumber of willing participants whowant to dress up and take part inthese productions. Many comeback multiple times.

All these elements are makingmultisensory theater a new trend,though one that follows in the foot-steps of 1980s pioneer Tony n’Tina’s Wedding. During the pastyear, productions such as Sleep NoMore,Speakeasy Dollhouse,Then SheFell and Totally Tubular Time Ma-chine have opened and are fillingtheir venues to capacity.

“People don’t want to sit in a seatanymore,” said Robert Watman, aproducer and co-creator of TotallyTubular Time Machine, which billsitself as an “interactive, intergalac-tic pop-music experience.” “Herethey can do a sing-along, hang outwith ‘Lady Gaga’ wearing a meatdress and watch dancers perform‘Thriller,’ ” he said.

At Totally Tubular, music fansare given a pair of intergalacticglasses and transported to a 1989Madonna after-party, thanks to athree-minute ride in a “time ma-chine.”The rest of the evening is aninteractive MTV rock-a-thonwhere guests mingle with look-alikes of Lady Gaga, Justin Bieber,Michael Jackson and doubleMadonnas—both the ’80s and ’90sversions.

Quick profitsFor Sleep No More, British site-

specific theater company Punch-drunk transformed an old Chelseawarehouse into a 100,000-square-foot fictional hotel called theMcKittrick. More than 100 roomshave been decorated in 1930s and’40s style. Participants hide behindVenetian Carnival masks and must

remain silent throughout the expe-rience.As with Speakeasy Dollhouse,the audience members follow ac-tors from room to room as they tryto figure out the mystery.

For the most part, creating theseshows doesn’t take much time, andthey are quick to make a profit.

Totally Tubular took six monthsfrom conception to performance,while Speakeasy Dollhouse took justfour weeks. It costs Ms. Von Buh-ler a mere $1,500 to put on eachshow (there are two performances aweek). Tickets are sold in advance

and cost $30 for the Saturday mati-nee performance and $20 for Mon-day night,with more than 150 peo-ple attending each. Her grossrevenue is about $8,000 a week.

Ms. Von Buhler was able to cuta free deal for the 10,000-square-foot performance space becauseshe packs the house at times whenpeople don’t usually come.

“They sell liquor during timesand nights when no one is normal-ly coming,” she said. “Our play isabout drinking, so it’s a terrific re-lationship.”

Totally Tubular is performed atmidtown’s Culture Club, which isowned by the play’s producer, Mr.Watman. It costs $5,000 per showto produce.Tickets are $60,and be-tween 250 and 300 people attendeach week.Mr.Watman also makesmoney selling show-themed

merchandise.Producers of Sleep No More, the

most elaborate,professional and ex-pensively produced of these shows,declined to give financial numbers.

Extended by popular demandThe majority of these produc-

tions were initially planned forshort, one-time runs. But they areall being extended or returning dueto sheer demand. Originally in-tended as a two-night event lastOctober, Speakeasy Dollhouse hasextended its run through 2013. To-tally Tubular runs every Saturdaynight,but Mr.Watman is consider-ing the addition of Friday perform-ances.

In the tradition of immersivetheater, there are no seats for audi-ence members in Then She Fell.Theshow, which has an open-endedrun,takes place in a three-story for-mer parochial school morphed intothe “Kingsland Hospital Ward” inWilliamsburg, Brooklyn.

It focuses on the writings ofLewis Carroll and the relationshiphe had with Alice Liddell, the girlfor whom he wrote Alice in Wonder-land. The show is intimate, withonly 10 actors and 15 ticketholders.

The producers of these showsbelieve the trend has caught on inpart because of the current culture oftechnology, which allows people tohave more interactive experiences.

“People want to be part of an ex-perience, and they want attention,”Ms.Von Buhler said. “That want isheightened because of interactivevideo games and reality TV, whichmakes the everyday person famous.Immersive theater is like that.”

Indeed, the success of theseproductions is based on intense au-dience commitment. BrendanMcNerney, an interactive Web de-veloper for Condé Nast, recentlyattended a Saturday performanceof Speakeasy Dollhouse.At 6-foot-5,he stood out in his lime-green zootsuit and matching hat, both ofwhich he already owned.

“I love the atmosphere and thedressing up,” said Mr. McNerney,who had already decided to see theshow again just two days later. “Itfeels good not to be a spectator andbe part of what’s going on. I got todrink liquor out of a coffee cup,playpoker in the bakery basement andwatch a woman singing opera a fewinches in front of me.”

Mr. McNerney has also seenSleep No More.

Since every performance is dif-ferent, it makes sense that every-one’s takeaway is as well. But for atleast one creator, her play has beenlife-altering and therapeutic.

Speakeasy Dollhouse is aboutfinding the truth surrounding Ms.Von Buhler’s grandfather’s murder.Writing the play was cathartic forher.

“I may never know what reallyhappened, but I feel his death left alegacy of fear throughout my fam-ily,”she said.“We’re all very anxiouspeople.This show has really helpedme conquer my own fears.” �


‘It feels good to be a part of what’s going on’

SOURCELUNCH:SIMON KILMURRYby Theresa Agovino

INSIDE TIP: The restaurant has a smallmovie theater, with a bar, that showsindependent films.

EVERY ROOM’S A STAGESLEEP NO MORE530 W. 27th St.Runs nightly. Admission is in 15-minuteintervals. Arrivals run from 7 p.m. to 8p.m.; Friday and Saturday late nights,11 p.m. to midnight. Information: www.sleepnomorenyc.com;

OvationTix, (866) 811-4111

SPEAKEASY DOLLHOUSE102 Norfolk St.Saturdays at 4 p.m., Mondays at 7 p.m.Information: www.speakeasydollhouse.com

THEN SHE FELL195 Maujer St., Williamsburg,Brooklyn Tues.-Sun. at 7:30 p.m. and10:30 p.m. Information:www.thenshefell.com

TOTALLY TUBULAR TIME MACHINECulture Club20 W. 39th St.Saturdays at 8 p.m.Information: www.totallytubularnyc.com

WHERETHEYDINEDREBAR147 Front St.,Brooklyn(718) 766-9110www.rebarnyc.comAMBIENCE:Hardwood floors,exposed-brickwalls, colorfulpaintings andmismatchedchandeliers—theperfect fit for artyDumboWHAT THEY ATE:� Celery-rootsoup, kale salad� Squash soup,apple-and-briepaniniTAB: $36.69,with tip



See the diamond in luxury.

Individual Game Suites are where legacy meets luxury! Bring your family, friends or business associates to Yankee Stadium for a group outing and bask in the comfort and privacy of your own suite. Suites can accommodate groups as small as 12 and up to 382 guests with food and beverage packages customized for every need.

Individual Game Suites truly make for a gem of an event!

JORDAN GELBER, STEPHANIE D’ABRUZZO, JILL GABBE and JOHN TARTAGLIA at the30th-anniversary celebration for the Vineyard Theatre on March 18. The evening raisedmore than $250,000 for the nonprofit.

E. SHERRELL ANDREWS, LINDA LAUSELL BRYANT, STEPHEN GRIMALDIand LIZ NEUMARK at the Inwood House gala on March 14. The fete raisednearly $1 million, the highest-grossing event for the nonprofit in its 183 years.

BOB CAGNAZZI, KIM ADAMO and NICK ADAMO at the InwoodHouse gala.

SNAPS Inwood House raises record for disadvantaged teensOUT ANDABOUT

ENDS SUNDAY, MARCH 31It’s your last chance to view two Pop Art-relatedexhibitions at the Whitney Museum of AmericanArt. SINISTER POP features art from the movement’sinception in the early 1960s and includes work byAndy Warhol, Jasper Johns and Claes Oldenburg.DARK AND DEADPAN: POP IN TV AND THE MOVIES fea-tures rarely seen films, advertisements and politicalcampaigns that reflect the genre’s themes. Bothexhibitions are at 945 Madison Ave., at East 75thStreet. Admission is $18 for adults; $14 for ages 19to 25, students and seniors; and free for children.For more information, visit www.whitney.org.

CULTURE FIXTHROUGH SUNDAY, APRIL 7Check out vibrant plants from South Asia atMacy’s annual flower show, THE PAINTEDGARDEN, celebrating the start of spring.Special events include a seminar discussinghow to create floral-inspired paintings,floral-arrangement demonstrations andpreviews of design collections. For moreinformation, call (212) 494-4495 or visitwww.macys.com/flowershow.

THURSDAY, MARCH 28See numbers from top Broadway shows atSPOTLIGHT ON TOWN HALL. The concert willshowcase Chicago, The Phantom of the Opera,Avenue Q and more. The event will honorTown Hall’s 92-year history and itsdesignation as a National Historic Landmarksite. The performance is at 6 p.m. at TownHall, 123 W. 43rd St., between Sixth andSeventh avenues. Free tickets will be availableat the Town Hall box office. For moreinformation, visit www.thetownhall.org.

CAREER BUILDERSMONDAY, MARCH 25Meet tech industry leaders atNYCADPUB: AD TECH PANEL, anetworking roundtable. Speakersinclude Karl Bunch, former chiefsolutions officer at CPXInteractive; Casey Saran, director ofbusiness development at iSocket;and Rahul Bafna, senior director ofproduct management at Flurry. Theevent is at 7 p.m. at AppNexus, 28W. 23rd St., between Fifth andSixth avenues. Tickets are free for attendees on the buy/sell side in ad technology, and $10 for non-ad-tech vendors. For moreinformation, visit www.meetup.com/nycadpub.

TUESDAY, MARCH 26Learn how to take advantage ofsustainable-energy leads at theFOURTH ANNUAL WORLD GREENENERGY SYMPOSIUM. Topics ofconversation include policies,technology and industry initiatives.The forum is at 8 a.m. at HunterCollege, City University of NewYork, at East 68th Street andLexington Avenue. Tickets are$150. For more information or toregister, visit www.worldgreenenergysymposium.com.

DON’T MISS POP GOES THE WHITNEY

MARK YOUR CALENDAR…

SATURDAY, APRIL 6SEE ONE OF AMERICA’S most beloved comedians, BILL COSBY, as he performs atthe Kupferberg Center. The comedy legend’s performance will be part of the center’sBest of the Best series. It starts at 8 p.m. at 65-30 Kissena Blvd., in Flushing,Queens. Tickets start at $35. To purchase tickets, call (718) 793-8080 or visitwww.kupferbergcenter.org.

FUNDRAISERSMONDAY, MARCH 25Help raise money for Evidence, a DanceCompany at THE TORCH BALL, its ninth annualgala. The black-tie event will include a cocktailreception, dinner and performances byEvidence. Proceeds will benefit theorganization’s outreach programs. It is at 6:30p.m. at the Plaza Hotel, 768 Fifth Ave., atWest 59th Street. Tickets to the full event startat $1,000. For more information, call (914)235-1490, ext. 11, email [email protected] or visit www.evidencedance.com.

THURSDAY, MARCH 28Join the New York Knicks’ Jason Kidd atTEAMING UP FOR CHARITY TO BENEFIT THE MAGICJOHNSON FOUNDATION. The event will includemusical performances from Juilliard students,dancing and other entertainment. Theorganization is committed to helping childrenliving in underserved communities and focuseson HIV/AIDS education and prevention. Theevent is at the Conrad Hotel, 102 North EndAve., at Vesey Street. Tickets start at $200. Formore information, visit www.magicjohnson.com/foundation.

OPENINGWEDNESDAY,MARCH 27See works bythree artistsat THEPAINTINGCENTER,which willhold threesimultaneousopeningevents. Philip Ayers’ exhibitionexplores portraits, including thoseof his children (above); JohnMcNamara’s investigates therelationship between painting andphotography; and AlexanderAyers’ includes drawings inspiredby the Deepwater Horizon oilspill of 2010. The free exhibitionsare at 547 W. 27th St., between10th and 11th avenues. The artinstitution is open Tuesdaythrough Saturday from 11 a.m. to6 p.m. For more information, visitwww.thepaintingcenter.org.

RUSSELL SIMMONS and SOLEDAD O’BRIEN at theFoundation for Ethnic Understanding YoungLeadership Benefit on March 18. The event raisedmore than $100,000.

See more of this week’s Snaps online at CrainsNewYork.com/galleries.

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by Emily Laermer and Miriam Kreinin Souccar


Midtown landmarks fight heatsup. Greenest fate for many energy-sucking glass towers may be toraze them P. 3

IN THE BOROUGHSEnough already with thecrappy street vendors, SoHoresidents demand P. 3

GOTHAM GIGS Salessecrets from a master: Thecity’s top seller of Girl Scoutcookies tells all P. 7

THE INSIDER A statebudget with something foreveryone, including thingsto whine about P. 6



FOUNDERAND PRESIDENTBLUEPRINTZoë Sakoutis, 34

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