Crain's New York Business, September 02, 2024

WHAT TO DO IN THE CITY THIS FALL

By Lou Harry

BECAUSE THIS IS NEW YORK CITY, let’s accept right off the bat that a fall arts preview couldn’t possibly include every potentially wonderful thing happening in museums and galleries and on area stages this season.

Further, let’s hope you’ll have the good grace to forgive the exclusion of most concerts, even though the upcoming months include shows by Billie Eilish and Vampire Weekend at Madison Square Garden, Jon Batiste and Barry Manilow at Radio City Music Hall, St. Vincent and Sting at the Paramount in Brooklyn, Usher and Kacey Musgraves at the Barclays Center, Lupe Fiasco at Terminal 5, Rufus Wainwright at Carnegie Hall and many more.

UN leaves city on the hook for East River path funding

The organization quietly abandoned a deal that would have covered part of the projected $153M cost

By Nick Garber

e city is advancing long-discussed plans to build a 12-block extension of the East River pedestrian path, but without the expected support of the United Nations. e U.N. quietly abandoned its side of a deal that was supposed to pay for the project.

BY THE NUMBERS

$153M

Estimated cost of an expansion of the East River greenway that would be built by 2028

e city’s Economic Development Corp. revealed last month that it is seeking a construction rm to build the next segment of the greenway, which would sit on pillars above the East River between East 41st and 53rd streets. With an estimated cost of $153 million, the extension would be built by 2028 and

And, to add a further caveat, let’s recognize that there are still events and shows yet to be announced.

Even so, an abundance of arts activities are scheduled for the next few months. And with only so many hours in the day (and, depending on your resources, only so much money in your pocket), you’ve got some decisions ahead of you. That’s what happens when you take a star-packed theater season, mix in inventive new operatic work, celebratory dance pieces, top-notch comedy and creative museum shows, and sprinkle it all with cute dogs and John Waters.

Here, then, are two dozen events you should have on your cultural radar. The fall arts and culture guide starts on PAGE 11

CHASING GIANTS

SoHo startup transforms online returns to help brands reduce

THE LIST

Here’s our ranking of the highest-paid CEOs in the New York area.

GOTHAM GIGS Food Network star re-enters the N.Y. scene with Tribeca restaurant.

In December, the city opened the latest section of the greenway between East 60th and 54th streets, leaving the U.N. stretch as the remaining gap on Manhattan’s East Side. | BUCK ENNIS

Center: “Sunset Boulevard.” Clockwise from top left: “All Peck,” “Floridas,” “King Lear,” “Pets and the City,” “McNeal” and “Harmony and Dissonance: Orphism in Paris”

Melba’s restaurant building sold back to lender for $1,000

Julianne Cuba

e Harlem building that has long been home to beloved American comfort food restaurant Melba’s was sold back to the lender on Aug. 28 for $1,000, according to an attorney involved in the matter.

e lender, U.S. Bank National Association, moved to foreclose on 300 W. 114th St. last year and was the sole bidder at the auction,

gage and failed to make the required monthly payments, records show.

Earlier this year, Manhattan Supreme Court Justice Francis Kahn ruled in favor of the bank and issued a judgment of $4.1 million plus interest on the 5-story building between Frederick Douglass Boulevard and Manhattan Avenue. Property records indicate that it has a market value of $2.1 million, per its most recent assessment.

Neither Wilson nor her restaurant were named in the lawsuit, and it is unlikely that any tenants will be affected by the sale apart from getting a new landlord.

which took place inside Manhattan Supreme Court downtown, according to Raymond Quaglia, an attorney at the Midtown-based law rm Ballard Spahr, who represented the plainti .

e property’s previous owner, Harlem-based developer Sugar Hill Capital — named one of the city’s “worst” landlords by the public advocate in 2021 — fell behind on its original $3.9 million mort-

POWER BREAKFAST

New York City would grind to a halt without its airports, bridges, tunnels, bus terminals and port. Mark your calendar to hear from the leader who helps keep this critical infrastructure humming and has led an overhaul that’s brought aging facilities up to world-class status. Rick Cotton, executive director of the Port Authority of New York and New Jersey, will talk about projects underway and what’s next.

But perhaps even more valuable than its monetary estimate is that it's been where Harlem-born restaurateur Melba Wilson has run her eponymous eatery since 2005.

Melba’s — known for its popular Southern fare such as cat sh strips, fried shrimp and dry-rub wings — is the lone commercial tenant in the building, taking up about 1,000 square feet of space on the ground oor. Above it are nine rent-stabilized apartments across more than 10,000 square feet of space, records show.

Won back its properties

e Aug. 28 auction was the third at which the same lender,

U.S. Bank, successfully won back its properties from Sugar Hill Capital for loans it had defaulted on. It is unclear what the bank now has in store for the property. Quaglia did not respond to a request for comment about his client’s plans for the site.

e foreclosure action did not speci cally name Sugar Hill Capital but various limited liability companies named after the address, as well as individual defendants, including David Schwartz, Alex Friedman, Margaret Grossman and Jeremy Salzberg. All of

them have worked at Sugar Hill, which is no longer taking on any new business, according to a source close to the matter. ree of them, including Schwartz, Grossman and Salzberg, now work at a separate company called T30 Capital, based in Midtown. Friedman left Sugar Hill in 2019 and is now the managing partner of Firebird Grove, a real estate investment group based in SoHo, according to his LinkedIn.

Neither Wilson nor her restaurant were named in the lawsuit, and it is unlikely that any tenants

will be a ected by the sale apart from getting a new landlord. Wilson had told Crain’s earlier this week that she was not aware of the auction and was having her lawyer look into it. She did not immediately respond to a request for comment on Aug. 29.

An attorney for the defendants, Greg Friedman of the Midtownbased rm Kriss and Feuerstein, did not respond to a request for comment. And Grossman specically, whom court records indicate had received the notice of default in 2022, declined to comment.

New lm studio to open in Bushwick in 2027

By Julianne Cuba

A Manhattan-based real estate rm focused on lm and digital content creation has plans for a new studio in Bushwick, records show.

Founded in May 2023, Bungalow Projects led paperwork with the Department of Buildings on Aug. 26 to construct a 6-story production hub at 242 Seigel St. ere has been a surge in major studio projects in the works across the Big Apple, giving Hollywood a run for its money.

e proposed 307,443-squarefoot development, which is slated to open in 2027 between White Street and Bushwick Avenue, would include six soundstages, o ces and terraces, as well as 214 underground parking spaces, according to DOB records.

Multiparcel acquisition

Led by founding partners Susi Yu and Travis Feehan, Bungalow purchased the more than 3-acre lot, which shares an address and tax lings with 215 Moore St., for about $52 million as part of a multiparcel acquisition in the industrial neighborhood, city records show.

Manhattan-based design firm CookFox, headquartered near

Columbus Circle, is listed as the architect of record, according to the filing, which was first reported by PincusCo. Also in Bungalow’s pipeline is 145 Wolcott St. in Red Hook, where the rm is planning a roughly 230,000-square-foot studio with four soundstages, also

expected to open in 2027. Bungalow partnered with Bain Capital to acquire the 2-acre southern Brooklyn lot for $34 million in April.

e two proposed studios will join the more than 50 production facilities already in operation across the Empire State and the

handful of others that are also in the works throughout the ve boroughs, including East End Studios in Queens and Sunset Pier 94 Studios along the Hudson River in Manhattan. Neither CookFox nor Bungalow responded to requests for comment by press time.

RICK COTTON

SoHo startup transforms online returns to help brands reduce waste, save money

The upstart: (Re)vive

Shopping for clothes online has never been easier. Buyers have nearly unlimited choices, many of these items can be delivered within a week and free returns are commonplace. But the convenience a orded to consumers presents a surplus of headaches for retailers.

A return’s rst destination is often the brand’s warehouse, where an employee inspects returns for damages. Items deemed un t to ship back to stores are often sold to o shore liquidators, recycled or thrown away. In 2023, it was estimated returns cost U.S.-based retailers $25.1 billion to process, according to Coresight Research.

ration specialists via (Re)vive’s online dashboard as they repair items and decide if they want to ship items back to stores or have (Re)vive list the items on secondary marketplaces like eBay or Poshmark.

SoHo-based (Re)vive, founded in 2022, is on a mission to help clothing brands reduce the cost of returns by repairing, cleaning and repackaging items headed for land lls. CEO and co-founder Allison Lee rst launched her company under the name Hemster which set up tailoring services in the tting rooms of retailers, but soon found a more lucrative opportunity targeting warehouse managers.

Moving up the supply chain has helped (Re)vive meet the growing rates of returns driven by e-commerce. In 2023, consumers returned 14.5% of items bought online, compared to 8.8% in 2012, according to the National Retail Federation.

“It’s really ironic that [brands] are almost incentivized to destroy end-of-life units,” Lee explains. “Once we found that out, we were like, ‘ at is super insane. We shouldn’t be shredding perfectly good units.’”

Lee positions (Re)vive as a way for clothing companies to refurbish their inventory, save money processing returns and ultimately reduce their carbon footprint. Brands ship their damaged items to one of three warehouses (Re)vive oversees in Georgia, New Jersey, and soon, Arizona. Once an item arrives at their warehouses, (Re)vive turns the digitization, inspection, and refurbishing process “into an assembly line,” Lee explained. Brands interact with resto-

In June, (Re)vive raised a $3.5 million seed round and claims to have helped brands recover $30 million in gross merchandise value. Clients include Michael Kors, Tommy Bahama, Eileen Fisher and Quint, among others. (Re)vive charges brands per unit through refurbishing fees calculated based on how damaged an item is when they receive it and get a cut of the price of items resold online.

The reigning Goliath: Poshmark

Poshmark is one of the largest e-commerce marketplaces for second-hand clothing, home goods and electronics. Founded in Redwood City, California, in 2011, the company reported 130 million users on the platform in 2024 across the United States and Canada. In 2022, South Korean search giant Naver announced plans to acquire the company for $1.2 billion. e deal closed in January 2023. Its website boasts “300 million+ items sold, keeping them in circulation and out of land lls.” It does not directly address repairing damaged items.

How to conquer the giant

Chelsea Zhang, an investor at Equal Ventures who led (Re)vive’s seed round, thinks online returns are a major liability for brands. “Once you allow consumers to return things very freely, it is very hard to close that door,” she said. Unlike many upcycling companies that seek to change consumer behavior, Zhang and Lee see potential in (Re) vive’s operation because it acts as an invisible layer between brands and consumers.

“All we ask [brands is to] change the address on those boxes and pallets to come to one of our locations, and then

our location and the hub will actually do all the work for you,” Lee explained.

E-commerce sales in the fashion industry are expected to grow by 13 percent by the end of 2024 compared to a year prior and rake in nearly $205 billion in sales, according to a study by the e-commerce giant Shopify. While some of this growth can be attributed to in ation and the rising cost of goods, the trend is likely to put pressure on retailers to cut down the cost of processing online returns.

“If you’re trying on in the dressing room and you don’t like it, it goes right back, ve feet away, back on the shelf,” said Zhang. “But if you’re in your living room, there are so many other costs associated with getting that individual item back on the shelf.”

The next challenge

In New York, the Fashion and Sustainability Act, introduced in the state senate this year, seeks to hold companies whose annual gross revenue exceeds $100 million accountable to environmental and social benchmarks. e law, if enacted, would force companies to disclose their supply chain, and require companies to reduce greenhouse gas emissions or pay nes.

Lee is using the legislative push for sustainability in the fashion industry to help fuel (Re)vive’s next funding round. e company has started receiving feedback from the brands, who have said they’re surprised by the quality of the refurbished items and how seamlessly they blend in with the stocked units in-store or in the warehouses.

“I think the brands needed some additional proof to really believe that our grade A is their grade A,” Lee said. “People just never paid attention to these units. But once you start looking at them, you can’t unsee it. You’re like, ‘Oh my God, it was just wrinkled.’ We need to be bringing these units back to life.”

Olivia Bensimon is a freelance journalist in New York City who reports on human-centered stories.

Controversial developer sells Upper East Side co-op to former Salesforce chief for $17 million

The unit includes four bedrooms, four and a half baths and a living room with views of Central Park

C. J. Hughes

Areal estate developer has handed over his keys to a software developer near Central Park.

Neil Rubler, whose rm, Vessel Technologies, constructs modular multifamily homes, has sold his four-bedroom unit at the co-op 920 Fifth Ave. to Keith Block, a former chief executive of Salesforce and a current investor in startups focused on analytics and other business tools.

o cials more than a decade ago over allegedly evicting tenants from rent-stabilized units in Queens apartment buildings in order to charge higher rents.

The sale price at No. 5A for

e complaint against Vantage, brought by thenNew York Attorney General Andrew Cuomo, was ultimately settled by Rubler for $1 million. In 2010 e Village Voice singled out Vantage as one of the city’s 10 worst landlords.

e sale price of the Upper East Side apartment, which features four bedrooms, four and a half baths and a living room with park views, was $17 million, according to a tax document that appeared in the city register Aug. 23. Block, who bought the apartment with his wife, Suzanne Kelley, an executive with Oracle, closed on the transaction Aug. 21, the document shows.

Rubler, whose wife, Allison, is a granddaughter of Robert Olnick, the founder of major city property owner Olnick Organization, has ties to other real estate rms. Rubler previously headed Vantage Properties, a rm that clashed with state

e Rublers appear to have incurred a loss on the unit, which cost them $19.1 million in 2007, according to the register, and seem to have braced themselves for a loss from the get-go, initially listing the apartment at $18 million in March, according to StreetEasy.

But the couple does not look to have soured on the building. In May they paid $21 million for a top- oor duplex unit at No. 920, a 14-story prewar edi ce at East 73rd Street with only about two-dozen homes. e 4,500-square-foot unit appears to be the Rublers’ third home in the co-op, which counts ex-Time Warner CEO Je Bewkes among its shareholders.

As with many elite co-ops, No.

920 once prohibited buyers from purchasing using mortgages and insisted on cash-only deals. e co-op board there relaxed that rule recently, however, and now allows purchasers to nance 50% of a unit’s cost, though the Blocks do not seem to have availed themselves of that option.

Keith Block joined Salesforce from Oracle in 2013 and eventually rose to become a co-CEO, though his time in the top slot lasted just 18 months. He stepped down in

2020 after the San Francisco company reported a quarterly loss of $248 million.

In 2022 Block co-funded Bay Area-based Smith Point, whose investments so far include the software rm Virtualitics, for which Smith Point joined a $41 million Series C round last year.

For its part, Rubler’s seven-yearold Vessel, which has multiple projects underway in Connecticut, says it can o er housing at a much lower price because of the com-

paratively lower price of prebuilt modules, which can help with the housing crisis. “I can't tell you we've ever found a community that isn't su ering from this problem and looking for a solution,” Rubler told CT Insider in 2023. A phone message left for Rubler at Vessel was not returned by press time, and an email sent to Smith Point also went unreturned. And Meredith Verona, the Corcoran Group agent who marketed the co-op, had no comment.

Northeastern University buys $5.5 million townhouse near Marymount Manhattan for its rst New York outpost

By C. J. Hughes

e ink is not yet dry on the merger of Manhattan Marymount College with Northeastern University, the rapidly growing Bostonbased school looking to set up its rst New York outpost by absorbing struggling Marymount. But Northeastern appears eager to expand in the meantime.

e university has snapped up a townhouse located on the same Upper East Side block as Marymount’s existing campus, new records show. Located at 247 E. 71st St. near Second Avenue, the 4,000square-foot property was purchased from SKI Realty for $5.5 million in an all-cash deal, according to a deed that appeared on Aug. 22 in the city register.

Northeastern and SKI went into contract July 19 and closed Aug. 19, the deed says. omas Nedell, Northeastern’s treasurer, signed the deed.

SKI has been trying to unload the prewar property since 2022, when it came on the market at $7 million, according to listings site StreetEasy. e seller, represented by Brandon Naman, paid $6.4 million for the single-family dwelling

in 2010, based on the register, and so took a loss on the investment.

It’s not known if the townhouse, which has three bedrooms, three and a half baths and a living room with a replace, plus a landscaped backyard, will serve as a residence or for some other purpose. E orts to contact spokespeople for Northeastern and Marymount were unsuccessful by press time, and Sabrina Saltiel, the Douglas Elliman agent who marketed No. 247, declined to comment.

But Marymount, whose main campus building is a few doors away at 221 E. 71st, acquired a similar townhouse at 255 E. 71st in 2010 and later renovated it as a faculty center.

Changes heavily scrutinized

Any changes at the small liberalarts school will likely be heavily scrutinized by Marymount’s students, some of whom have expressed concerns that Northeastern plans to signi cantly reinvent the performing arts-focused institution, much as it did with Mills College. Northeastern acquired that small, women-only California school in 2021 after a drawn-out legal battle

in which Mills administrators were accused of not being forthcoming about Mills’ nancial condition.

When the Marymount merger was announced in May, Northeastern President Joseph Aoun suggested that Northeastern wanted to be in New York as part of a techfocused academic agenda.

“New York is now home to a fast-growing technology sector, including signi cant players such as Google, Amazon and Microsoft,” Aoun said in a statement at the time. “Just as we’ve seen in Seattle, the Bay Area and in Canada, professionals with undergraduate degrees are seeking opportunities to reskill and upskill themselves to meet the employment opportunities of tomorrow.”

Regulators including the federal Department of Education still need to approve the merger, which would result in a school with a new name, Northeastern UniversityNew York City. e approval process, which is partly looking to ensure that tuition doesn’t skyrocket for existing students, could play out for years.

But if the acquisition passes muster, Northeastern could also inherit other city real estate, including 231

E. 55th St., a 32-story tower that currently o ers housing for more than 500 rst-year Marymount students, according to the school’s most recent form 990 tax ling. Marymount owns a 71% stake in the condo tower, the ling says.

Still, another longtime Marymount dorm site, 35 Cooper Square in the East Village, which the school began leasing in 2012, is no longer part of its portfolio: New York University snapped up the property for $69 million this month.

Northeastern, which in 2023 had a $1.7 billion endowment, has

been expanding at a breakneck pace since 2011, often by bringing smaller schools into its fold. Marymount’s campus would be its 14th outside Boston and would join a list of existing sites in London, Miami and Portland, Maine. Despite having assets of $144 million against liabilities of $59 million, according to its Form 990, Marymount says it has recently struggled to attract students. e school, which dates to 1936, enrolled about 2,000 students before the pandemic but reportedly has just 1,400 now.

Why Robert F. Kennedy Jr.’s removal from the New York ballot is bad for democracy

Like them or not, third-party candidates give voters an opportunity to voice their frustrations with the mainstream

If you’re a New Yorker who doesn’t want to vote for Kamala Harris or Donald Trump this fall, you might be out of luck. For the rst time in modern history — if not ever — there is a good chance no third-party presidential candidates will appear on the ballot here.

Robert F. Kennedy Jr. has already dropped out of the race and endorsed Trump. A state judge ruled, before he decided to exit the race, he couldn’t qualify for the New York ballot because his assertion that he had rented a bedroom in a friend’s home did not make him a New York resident as he had claimed. Kennedy has appealed the ruling, despite his withdrawal from the race.

he waged war against the Working Families Party, a left-wing third party that cross-endorses Democrats. In a bid to cripple the WFP, he drastically raised the signature requirements for third parties to run candidates and maintain their ballot status.

e WFP, which maintains close ties to progressive and establishment Democrats, has met those requirements, but is backing Harris for president. e Green Party, however, failed to get their candidate, Jill Stein, on the ballot in New York.

If he doesn’t prevail, New Yorkers will be confronted with an alien sight. No independents. No Greens. No Libertarians. ere will be two candidates, a Democrat and Republican, and that’s all. is is a shame, and the blame lies with the disgraced former governor, Andrew Cuomo, as well as top Democrats in the state Legislature. When Cuomo was governor,

Chase Oliver, the Libertarian candidate, will not reach the ballot, either.

New York is mostly irrelevant in the presidential race. Harris is a lock to carry the state, like every other Democratic presidential candidate since 1988.

e only question will be what her margin of victory is over Trump and if it’s big enough to signi cantly buoy down-ballot candidates.

But third-party protest votes have a role in a democracy, even one with a rst-past-the-post system and a two-party duopoly.

ey allow voters to voice their frustrations with the mainstream

and force them, in certain cases, to pay attention to particular issues.

Remember Ross Perot

Ross Perot, the independent who ran in 1992 and 1996, helped popularize the idea that free-trade agreements like NAFTA weren’t an unalloyed good, warning (correctly) of good-paying factory work that would be o shored to Mexico and elsewhere.

In the 2014 gubernatorial race, the presence of Green Party candidate Howie Hawkins allowed Democratic voters to vent their dissatisfaction with Cuomo. After law professor Zephyr Teachout won more than 30% of the vote against Cuomo in the Democratic primary, Hawkins secured about 5% in the general election, far more than typical third-party contenders in the state. Hawkins called for a $15 minimum wage while taking aim at Cuomo for his failure to ban hydraulic fracking.

Cuomo, shortly afterwards, banned fracking and engineered a minimum wage increase. is, of course, wasn’t Hawkins’ doing alone, but Cuomo understood a fringe candidate winning so many votes was a re ection of broader

unrest in the electorate. He acted accordingly.

In the 2022 gubernatorial election between Gov. Kathy Hochul and Republican Lee Zeldin, third parties were entirely absent. Voters had no meaningful outlet for dissent. is is the reality going forward.

If you’re a New Yorker who doesn’t care terribly for Harris or Trump — and these voters denitely exist — you will be out of

options unless Kennedy somehow reaches the ballot. Assuming he does not, your only choice will be a write-in vote. Unless a candidate is organizing an aggressive writein campaign — none are in New York — this kind of voting won’t amount to much.

It’s a loss for democracy in the Empire State. Ross Barkan is a journalist and author in New York City.

Midtown landmark Helmsley Building risks becoming obsolete as owner RXR Realty eyes residential conversion

By Aaron Elstein

Atop Grand Central Terminal and straddling Park Avenue, the Helmsley Building is one of Manhattan’s most handsome and bestlocated o ce towers. But looks and location only go so far.

e Helmsley is losing tenants because corporate users are heeding the siren call of newer towers dangling new-fangled amenities, such as private terraces and ino ce golf ranges. Time is running

“The property has a class A address and location, but we believe the building’s quality is more analogous to class B+.”

S&P Global said in a report

short for developer Scott Rechler to nd a new way forward for the Midtown landmark he bought nine years ago for $1.2 billion.

“ e property has a class A address and location,” S&P Global

said in a report earlier this year, “but we believe the building's quality is more analogous to class B+.”

Even that grade is generous for the Helmsley, which is only 70% leased and stands to lose 15% of its rent roll next year when Voya Financial and Clarion Partners are expected to move out, bond-rating rm KBRA said in a report last month. e building carries $795 million of debt, and 15% of it was rated CCC or worse by KBRA, meaning it’s near default. Lenders wouldn’t grant an extension when the two-year mortgage came due last December and the loan has been designated “non-performing matured.”

For Rechler, the pain is compounded after he invested more than $100 million cleaning the Helmsley’s facade and other improvements after his rm, RXR Realty, acquired the 1.4 million square-foot building in 2015 for $1.2 billion. Today the tower is looking like it could be “ lm,” a term Rechler coined last year for obsolete o ce buildings that would be handed back to lenders. Rechler owns about 26 million square feet of commercial property and estimated that 10% of his rm’s

o ce portfolio is “ lm.”

“Some buildings are lm, and some buildings are digital,” he told the Financial Times. “ e ones that are lm, you’ve got to be realistic about.”

A short walk from the Helmsley, Park Avenue towers with darkened glass and oor-to-ceiling windows command rents of $100 or more per square foot. e average rent for a top 10 tenant at the Helmsley, developed in 1929, is $50 per square foot, KBRA said.

Risky proposition

In order to prevent the Helmsley from turning into lm, Rechler wants to convert an unspeci ed amount of the tower into housing. at could be a risky proposition, considering the cost of the Waldorf Astoria’s conversion had risen to $2 billion by 2022, and the project isn’t expected to be nished until 2025, eight years after it started. RXR is expected to unveil its

Helmsley conversion plans in the fourth quarter, KBRA said.  RXR declined to comment.

Meanwhile, tenants who pay 54% of the base rent at the Helmsley have leases expiring next year or in 2026. Publisher Reed Elsevier has subleased a chunk of its 116,000 square feet but is negotiating an extension, KBRA said. Law rms Duane Morris and Dentons have leases expiring in 2026.

KBRA downgraded a $77 million slice of the building’s mortgage to CC, a deep-junk rating that indicates default is near.  e interest rate on the Helmsley’s mortgage jumped to nearly 7.9% after a cap that kept the rate at less than 2.6% expired last year. at indicates annual borrowing costs would have risen to about $53 million from $17 million if the loan was performing.

Ross Barkan

With RFK Jr. dropping out of the race and endorsing Donald Trump, there is a good chance no third-party presidential candidates will appear on the ballot here for the rst time in modern history, writes columnist Ross Barkan. | BUCK ENNIS

BUCK ENNIS

Converted of ce tower in Financial District faces default

By Aaron Elstein

A 1950s Financial District o ce tower that was converted into apartments before the pandemic is facing default.

e $250 million mortgage for 20 Broad St. comes due in September but borrower Metro Loft Developers “has indicated it was unable to repay the loan at its maturity,” bond-rating rm KBRA said in a report Aug. 27.

Metro Loft CEO Nathan Berman didn’t return a call and his rm didn’t reply to an email. e lender to 20 Broad, Athene Annuity &

boring New York Stock Exchange before it was turned into 533 apartments in 2018 by Metro Loft, which has converted several Financial District buildings. e rm’s current projects include converting 55 Broad St. with Silverstein Properties and the former P zer headquarters on East 42nd Street.

Generous incentive program

e state Legislature enacted a generous incentive program this year to support o ce conversions in Manhattan. SL Green will convert a nearly vacant postwar building at 750 ird Ave., and RXR Realty is working on plans to convert part of the landmarked Helmsley Building at 230 Park Ave.

The converted building at 20 Broad St. is near default, underscoring the dif culties facing developers turning of ces into apartments.

Life Co., declined to comment.

e insurer is owned by private equity giant Apollo Global Management.

Financial woes at 20 Broad underscore the di culties faced by developers converting post-war o ce buildings into apartments.

20 Broad is a 29-story, 470,000 square-foot tower developed in 1956. It held o ces for the neigh-

But the trouble at 20 Broad seems to be that New Yorkers aren’t enthusiastic about living there. One resident told Bloomberg News last year that her studio was “a very awkward space.”

“It wasn’t square, it wasn’t a rectangle, it had all kinds of bizarre edges and weird corners,” the resident said.

KBRA said in May that net cash ow at the building had fallen by 11% since 2020, to $13 million. Al-

though occupancy was a robust 98% last fall, the bond-rating rm said concessions “negatively impacted” nances.

StreetEasy listings show 20 Broad is o ering a free month of rent to those who sign a one-year lease. at’s rare across the city: Just 9% of

Manhattan apartment buildings o ered concessions in July, the lowest in nine years, said Jonathan Miller, CEO of appraisal and research rm Miller Samuel. Miller said 20 Broad’s free-rent o er “suggests the apartment isn’t connecting with the neighborhood.”

KBRA said Metro Loft asked for a short-term extension on its mortgage, which was written in 2019 and carries a 3.54% interest rate. But Athene refused and the mortgage was transferred to special servicing, where troubled loans get worked out.

20 Broad St. | BUCK ENNIS

UN’s withdrawal from the East River greenway project undercuts city’s vision

Initiated in 1993 under Mayor David N. Dinkins, the ambitious Manhattan Waterfront Greenway aimed to encircle the island with a continuous path for bikers and walkers, enhancing the city’s allure and livability. is project, supported by successive administrations, represents more than just urban beauti cation — it symbolizes New York’s commitment to sustainable, accessible public spaces. However, a signi cant 12-block gap along the East River has marred this vision.  e gap that was supposed to be closed with the help of the United Nations. Unfortunately, the U.N. appears to have reneged on its promise, leaving the city to bear the burden alone.

As reported last week by Crain’s Nick Garber, the U.N. has apparently withdrawn from a 2011 agreement to fund half of the $150 million needed for the greenway’s completion. is is more than anancial blow — it’s a failure of civic responsibility. As a prominent resident of New York City, the U.N. had an opportunity to contribute to the city’s development and to enhance its stature as a world-class

PERSONAL VIEW

Some portions of the East River greenway are completed, but there is a 12-block gap by the United Nations building. THE CITY PROJECT/FLICKR

city that values green, open spaces for all its inhabitants and visitors. e decision to step back from this commitment, in uenced by the collapse of a planned o ce tower deal, is a disappointing shift. Projects like the greenway are vital to making New York City more attractive to both residents and prospective newcomers, including businesses considering

where to establish their o ces. Projects like the Manhattan Waterfront Greenway play a crucial role in helping to make the city a magnet for global talent and enterprise.

is backtracking by the U.N. sends a discouraging message about the value of long-term commitments and mutual aid between global institutions and their host

cities. It’s especially disheartening considering that the completion of this greenway could signi cantly elevate the quality of life in New York City, o ering new recreational avenues and commuting options that align with more sustainable urban living.

Mayor Eric Adams’ administration, despite inheriting this scenario, must now navigate this roadblock with caution and assertiveness. e Economic Development Corporation said it continues to work in collaboration with the U.N., yet New Yorkers need more than diplomatic talk. ey need action, and a restored commitment to funding and completing the East Side esplanade.

As the city plans to move forward alone, the EDC is scouting for construction rms to undertake the remaining segments of the pathway. It’s imperative that the city not lose sight of the vision for a fully realized greenway. e larger picture is that a continuous path circling Manhattan represents a promise to city dwellers of a greener, more connected and accessible New York.

A new push to encourage elevators in city walkups

Thousands of elderly New Yorkers are living a silent struggle.

Living in three- to six-story apartment buildings without elevators, they grapple daily with the mental, emotional and physical pain of leaving their homes, navigating staircases and stairwells to perform the most basic errands for themselves or their family members. e older they get, the more di cult going back and forth becomes — from doctor visits to grocery shopping to walks in the park. is can easily lead to severe isolation and depression.

From tenements to brownstones, it is a struggle not often discussed, but with living and housing costs continuing to skyrocket, the strain is very real for this vulnerable population. Many of these New Yorkers either cannot a ord to move or live in rentregulated homes, relying on disability bene ts, retirement pensions and Social Security. To some degree, they are trapped — physically and nancially. Even if they or their landlords want to make these apartments accessible by adding elevators, the current zoning and building codes will not allow it.

It’s time for that to change.

Margery Perlmutter is a land use lawyer, an architect and the founder of consultancy rm Urban Factors, as well as a former chair and commissioner of the NYC Board of Standards and Appeals and a former commissioner on the NYC Landmarks Preservation Commission.

One solution is to modify current regulations to allow elevators to be installed on the outside of certain buildings, providing a critical lifeline to residents who are elderly or disabled. Since such an installation would occur on the building's exterior, the work would not displace the tenants. Typical 19th century tenement houses in New York City are built with light wells and small courtyards next to the public corridor and/or stairwell, and many of these structures have abandoned dumbwaiters that provided coal from the cellar to the upper oors. ese areas, alone or in combination, would be ideal locations for small elevator shafts.

Exterior elevators

Other buildings in New York City are set back far from the property line with large front yards that could easily accommodate exterior elevators. And many such buildings have rear yards that can be accessed from a common corridor. Some buildings have stairwells with wide enough turns to accommodate a small elevator, a practice in place since the early 20th century in cities

across northern Europe. However, none of these are permitted under current zoning and building codes in the Big Apple.

e buildings in question were constructed prior to requirements under the Americans with Disabilities Act, and therefore, the owners are not required to install elevators unless a substantial building-wide alteration is undertaken. Allowing such existing non-compliances with disability regulations is designed to avoid punishing property owners with new costs that accompany new regulations. However, our government leaders should be encouraging action to preserve a ordability and enable accessibility instead of just avoiding it.

e installation of exterior elevators will certainly increase the value of properties over time, and tax incentives can be o ered to further encourage the practice and o set the necessary costs. In upper Manhattan where I live, several of my elderly neighbors have been forced to leave their a ordable apartments when the lack of an elevator became too much of a burden. As a result, they relocated miles away, leaving a loving community with which they had forged close friendships and who had helped them cope with their disabilities. Often these residents are forced into government-subsidized nursing homes, needlessly straining social service agencies and draining their budgets, when an elevator would have al-

lowed for much less costly at-home care. Adding elevators in walkup buildings allows the elderly to age in place with grace and dignity in their own communities, but it also can help anyone who has been permanently or temporarily disabled due to an accident or illness, as well as parents with young children. Installing elevators in walkups would retain a ordable units in small buildings that may not have been subject to rent stabilization or control but are a ordable because of market trends that favor newer, larger buildings and keep rents low.

Facilitating changes

In this post-pandemic era, we all can understand the impact of forced isolation and the positive power of human interaction. Asking for help is never easy, and for the elderly and disabled, asking for help to navigate your own home can be even more di cult — coupled with the guilt, shame and frustration. Changes in regulations would ease their hidden pain by enabling property owners to make improvements without requiring them. Creating a working group of city regulators, industry leaders, community advocates and elected o cials would be a good rst step toward facilitating such a change for these often-overlooked New Yorkers. eir struggle may be silent, but that doesn’t mean we should ignore it.

With a new Medicaid pilot, what will success look like?

In August, New York state kicked o its $7.5 billion pilot demonstration that expands non-medical Medicaid-funded services across the state to respond to the needs of vulnerable New Yorkers.

approaches to delivering integrated medical, behavioral, and social care services and addressing whole person care.

e initiative is a product of a federally approved Medicaid 1115 Demonstration Waiver that allows not-for-pro t Community-Based Organizations (CBOs) to extend vital health-related social needs (HRSN) services such as food, transportation, and housing assistance to New Yorkers who are most in need, and receive reimbursement for these services.

State 1115 Medicaid waivers focused on HRSNs approved in recent years, particularly those in North Carolina, Oregon, and now New York, o er the prospect of stable funding streams to strengthen the capacity of these essential CBOs and integrate them as a lasting bene t within the Medicaid managed care program, contracted networks and care models. More than just dependable revenue streams for CBOs, they represent a lifeline for individuals and families by giving states and the federal government the opportunity to pioneer innovative

PERSONAL VIEW

New York has the opportunity to be a national example for successfully implementing social care services into its Medicaid program. Unlike many other states’ programs, which are narrower in scope, New York’s is a statewide initiative and covers a broad list of vulnerable populations and bene ts. e initial pilot demonstration will run for approximately three years to provide a runway to implement and test the e ectiveness of the waiver that aims to reduce health disparities in underserved communities across the state.

Whether you are an individual who will bene t from the program or a taxpayer who wants to be sure that non-medical interventions related to housing, food, transportation and enhanced care management are being optimized to improve health outcomes and drive cost savings, this is a process worth paying attention to.

So, what will success look like?

One way to look at the demo’s potential is to observe success stories in other HRSN 1115 waiver states. North Carolina’s Healthy

Opportunities Pilot used a rst-of-its-kind focused trial to demonstrate the e cacy of collaboration among CBOs, health plans, and providers by leveraging shared technology and secure information exchange to coordinate and pay for select non-medical services for high-needs Medicaid enrollees.

Since that pilot launched two years ago, independent evaluations released in April by the University of North Carolina found that enrollment in the program reduced emergency department utilization and inpatient hospitalizations. Additionally, the program has lowered Medicaid spending on average by $85 per month per enrolled patient. Moreover, nearly $90 million has been distributed to community-based organizations who have delivered more than 455,000 services to Medicaid members since the program’s inception. In New York, we might measure success using metrics such as rate of screening for unmet social needs, emergency department utilization and in-patient admissions, and impact on total cost of care for Medicaid bene ciaries.

By giving states and the federal government the opportunity to pioneer innovative approaches to caring for the underserved, these types of Medicaid waivers augment the capacity of organizations and providers that are already serving communities and create a lifeline for individuals and families in need. However, these bene ts also come with additional oversight to ensure populations are served while costs remain low. e

waivers mandate the federal Centers for Medicare & Medicaid Services (CMS) and state Medicaid agencies to conduct rigorous evaluations of state-speci c programs that are aimed at better serving their populations in order to inform better federal policies.

For CMS to e ectively assess the impact of these types of waiver demonstrations, including healthcare outcomes and costs, it requires regular reporting using comprehensive metrics. States are responsible for gathering standardized data to determine the long-term viability of these programs, which must be “budget neutral” to the federal government under federal law.

By deploying secure referral and payment technology that collects structured data, New York can enhance its data collection on HRSN utilization, which will enable the state’s Medicaid program to analyze key health equity metrics more effectively, including demographic data that can identify opportunities to better support underserved populations.

With a statewide uniform program, we will have the necessary data to evaluate success and promote a healthier, more resilient New York. With nine Social Care Networks being established across the state, these coordinated care networks can begin serving New Yorkers on an extraordinary scale. is evidence-based approach holds the promise to transform Medicaid nationwide and enhance the health of the entire population.

New York risks becoming a dumping ground for agricultural products that contribute to climate change

Earlier this year, Gov. Kathy Hochul went to the Vatican to participate with Pope Francis in a Climate Summit. While there, she stated that “Climate change is a global crisis that demands a response on all fronts and New York continues to lead the way through our climate initiatives.”

e governor then released a $300 million climate resiliency investment program consisting of 13 separate initiatives building, in some cases, upon her existing budget proposals in the areas of environment, sustainability and climate resiliency.

As laudable as these initiatives are, it is the initiative she has not taken which threatens to not only undermine her stated climate goals but prevent New York from reaching her larger objective of having the state “protect our planet for future generations.”

tion, is the cause of up to 20% of climate change. e reason for the deforestation is the production of agricultural products, particularly palm oil, soy, rubber, beef, pulp and paper, timber, co ee and cocoa.

Pascal

Baltussen is chief operating o cer of Tony’s Chocolonely, a New Yorkbased chocolate company.

e initiative? Using the power of the New York public economy to prevent global deforestation, thereby slowing climate change and giving future generations a shot at a livable planet.

After fossil fuel emissions, the largest cause of climate change is the loss of forests and forest degradation. Experts agree that deforestation, especially tropical deforesta-

We at Tony’s Chocolonely, an international company with our North American headquarters in New York City, know this problem rsthand. We source our cocoa only from Ghana and Côte d'Ivoire, which together account for more than 60% of the world’s cocoa production. Since 1950, Ghana has lost 65% of its forest and Côte d'Ivoire 90%, with the past 30 years accounting for 85% of Ghana's and 94% of Côte d'Ivoire's total forest loss. e ensuing climate change accompanying this has been dramatic. Increased heat, lack of rain or too much rain at the wrong time, disease and to some extent crop mismanagement have meant a decrease in cocoa production and a rapid increase in the price of cocoa. In 2023 the European Union enacted the European Union Deforestation Regulation. It states that high-risk tropical products such as the ones listed above will not be allowed into the EU after Dec. 30, 2024, unless it can be certi ed that they come from land that has not been deforested after Dec. 31, 2020.

Companies manufacturing in or trading with the EU, including many in New York State, are now working hard to review their supply chains and take actions to ensure none of their products violate the regulation. Yet, not all companies and products meet the EU standards. ose products will most likely be dumped into the U.S. market generally and into New York speci cally. Without state-level action similar to the EU’s activity, the products coming into New York will come from land newly deforested. is new deforestation will continue to contribute to global climate change undercutting both Gov. Hochul’s grand vision and her practical implementation of it.

ere is a solution. Both last year and this year, the Legislature of New York passed, on a bipartisan basis, legislation that would mandate that no agency of the state procure these high-risk products unless the contractor bidding on the state tender for them certi es that the product (on its own or as an input into a nal product like cocoa and chocolate) comes from land that has not been deforested. is legislation harnesses the power of the state through its multibillion-dollar purchases of goods to combat climate change. It is a state practice that is clearly one of the fronts referred to by the governor for combatting this scourge.

Gov. Hochul vetoed the bill last year citing largely cost of implementation.

e bill (called e TREES Act), now amended to re ect many of the concerns raised by her, again awaits a gubernatorial signature. Without enactment, New York, in e ect, actively supports those who either do not wish to ght climate change or those who wish to delay their corporate responsibilities for as long as possible. ey will see New York as a Wild West dumping ground for high-risk products to end the goals of the EU and earn pro ts at the expense of doing the right thing. e losers are the tax-paying citizens of New York who face increased temperatures, rising seas, unstable weather, decreased air quality and more costly foods; climate change at its worst. Such a scenario cannot be one that Gov. Hochul wishes, especially given her commitments on behalf of the taxpayers to invest hundreds of millions of dollars ghting climate change. It is also surprising given that she is willing to invest millions of New Yorker dollars to plant more trees instate to combat climate change but is unwilling to date to support e orts to keep trees from being cut down globally.

e time for having New York move vigorously on “all fronts” to combat climate change is here. Gov. Hochul should sign e TREES Act into law as soon as possible so all New Yorkers can truly see how deep her commitment is to protecting the planet for future generations.

Brett Friedman is a healthcare attorney and partner in Ropes & Gray’s New York City o ce.

Meredith Little is the Medicaid strategic director for the East Region at health care technology company Unite Us.

What to see and do in New York City this fall

SEPTEMBER

‘McNeal’

T he downside of a movie star’s B roadway debut is that a percentage of the audience won’t be there to immerse themselves in the play but, rather, to be able to boast for time immemorial that they saw said movie star live. T he upside for the rest of us, though, is that we get to, we hope, lose ourselves in a terri c performance. In this case, the actor is one you may have heard of — R obert Downey Jr. — and he’s signed on to a new play by Ayad Akhtar (“Junk,” “Disgraced”). T his one concerns a writer and what is described as his “unhealthy fascination with arti cial intelligence.” B onus: T he undercard on this one is strong, with a cast that includes Andrea M artin and R uthie Ann M iles.

Previews begin Sept. 5 https://www.lct.org/shows/ mcneal

‘Our Town’

Director Kenny Leon is on a roll with revivals, recently giving theater audiences the gifts of “ P urlie Victorious” and “ Topdog/Underdog,” among others. T his time, he’s guiding an eclectic cast that includes Jim Parsons, E phraim Sykes, R ichard T homas and Katie Holmes for the rst B roadway revival of T hornton Wilder’s classic in nearly a quarter of a century. E ven a good-enough production of “Our Town” is likely to make you appreciate your world a little more. A terri c one can be life-changing.

Previews begin Sept. 17 https://www.ourtownbroadway. com

Upright Citizens Brigade’s grand reopening

It’s back! T he comedy showcase and training center founded by Amy Poehler, M att B esser, Ian R oberts and M att Walsh was once a seven-nightsa-week staple on West 26th Street. T hen 2020 happened and, well, you know. Now, under new management and in new digs on E ast 14th Street, it’s returning to a full schedule, including sketch shows, improv madness and, of course, its signature

“Asssscat” show, during which an audience suggestion leads to a story from a guest monologist, which then leads to a series of made-up-on-thespot scenes. Included in the reopening week is a Saturday show by the P lease Don’t Destroy trio from “Saturday Night Live” and, we’re guessing, visits from many of the comics that rose through the storied system. Runs from Sept. 13 to 19 https://ucbcomedy.com/shows/ new-york/main-stage

‘Grounded’

In this operatic adaptation of George B rant’s acclaimed play, a fighter pilot played by mezzo-soprano E mily D’Angelo, earthbound due to a planned pregnancy, is tasked with piloting warfare drones. Jeanine Tesori (best known for musical theater’s “Fun Home” and “Kimberly Akimbo”) composed the score, and M ichael M ayer provides the hightech visuals — including the drone’s eye view. Note: If you attend the Oct. 16 or Oct. 19 performance at the M etropolitan Opera, you may find yourself on movie screens around the country, because those performances will be taped for the

M et’s Live in HD cinema transmissions.

Runs from Sept. 23 to Oct. 19 https://www.metopera.org/ season/2024-25-season/grounded

‘All Peck’

T he New York City B allet celebrates a decade of resident choreographer Justin Peck’s work with a program that includes his rst NYC B dance, “In Creases,” as well as “ E verywhere We Go,” a collaboration with composer Sufjan Stevens, whom Peck also partnered with on B roadway’s “Illinoise.” Also included is a live version of Peck’s “Solo,” which was rst seen as a short lm made by So a Coppola during the pandemic lockdown.

Runs from Sept. 24 to Oct. 13 https://www.nycballet.com/ season-and-tickets/fall-2024/ all-peck

‘Hold on to Me Darling’ Adam Driver has been musical in lms before — hilariously as a folkie in “Inside Llewyn Davis” and cryptically in the operatic “Annette.” In this play by Kenneth Lonergan (“ T his Is Our Youth” and the lm “M anchester by the Sea”), Driver plays a country music star who tries to simplify his life by heading back home to Tennessee. If that sounds like the makings of a Hallmark holiday movie, then you don’t know Lonergan.

Previews being Sept. 24

https://holdontomedarling.com/

New York Philharmonic opening gala

Dynamic singer Cynthia E rivo has already snared an E mmy, a Grammy and a Tony, and has come close to solidifying an E GO T thanks to two Oscar nominations (for B est Actress and B est Song in “Harriet”). T his year,

with the lm version of “Wicked,” she has another chance. B efore the big publicity push on that one, she’s in concert with the P hilharmonic for its season-launching gala. T he program promises Great American Songbook tunes as well as operatic works with M anfred Honeck, music director of the P ittsburgh Symphony, conducting. Sept. 24 https://www.nyphil.org/ support-us/galas/opening-gala

‘Edges of Ailey’

In addition to gallery space, there will be a performance program included in this first large-scale exhibition celebrating Alvin Ailey, the acclaimed choreographer and founder of one of the country’s leading dance companies. T he multimedia exhibition also will feature workshops, classes and panels that give context to the work of the movement groundbreaker.

Runs from Sept. 25 to Feb. 9 https://whitney.org/exhibitions/ edges-of-ailey

‘Sunset Boulevard’

T his will be the third visit to B roadway for Andrew Lloyd Webber’s musical

adaptation of the classic lm. B ut this one promises to be very different from the Glenn Close editions. The West E nd hit has been celebrated for its reimagined, more psychologically focused approach and for the lead performance by Nicole Scherzinger, a former member of T he P ussycat Dolls. Scherzinger may not be as well known of a last name as M cDonald, Chenowith, M enzel, Peters or Salonga — who all have shows this season — but if the London reviews are accurate, that could change very soon. Previews begin Sept. 28 https://sunsetblvdbroadway.com

New York Film Festival

You want an intense Paul Schrader character study? T here’s “Oh, Canada,” reuniting the director with R ichard Gere for the rst time since “American Gigolo.” How about the latest David Cronenberg horror ick? T here’s “ T he Shrouds,” which involves new tech that allows the monitoring of decaying corpses. Or if you are a fan of Pedro Almodóvar, you can catch his 15th NYFF selection — and rst E nglishlanguage feature — “ T he R oom Next Door,” starring Tilda Swinton and Julianne M oore. T hen there’s Steve M cQueen’s period lm “B litz” with Saoirse R onan and M ike Leigh’s “Hard Truths,” among others.

Runs from Sept. 29 to Oct. 15 https://www. lmlinc.org/nyff2023

Principal dancer Emilie Gerrity and members of the New York City Ballet in Justin Peck’s “In Creases” | PAUL KOLNIK / NYCB

Tilda Swinton and Julianne Moore star in “The Room Next Door,” director Pedro Almodóvar’s rst Englishlanguage feature lm | FLC PRESS

One of fall’s hottest tickets is Nicole Scherzinger’s star turn in “Sunset Boulevard.” | Marc Brenner/Sunset Blvd.

Robert Downey Jr. signed on to a new play by Ayad Akhtar called “McNeal .” | MCNEAL/TWITTER

“Carmen de Lavallade and Alvin Ailey at Jacobs Pillow, 1961” is one of the archival images on display in “Edges of Ailey.” | JOHN LINDQUIST.

October

‘Encanto’ sing-along lm concert

Keeping kids quiet at a concert isn’t easy. Here, it isn’t necessary, and making noise is, in fact, encouraged … as is dressing up. A live band and a hostess will lead the crowd at Brooklyn’s Lehman Center for the Performing Arts through an enhanced screening of the hit film that includes the songs “We Don’t Talk About Bruno” and “Surface P ressure.” Oct. 5

https://www.lehmancenter.org/ events/encanto

‘Floridas’

Two distinct sensibilities of the same subject but from two generations share the spotlight in this duo show at the Metropolitan Museum of Art. The work of famed photographer Walker Evans (1903-1975), best known for his images of the Great Depression, has been paired with Russian American, Miami-based photographer Anastasia Samoylova (born 1984), who also works in mixed-media paintings. The exhibit promises two unique perspectives on a state “where fantasy and reality collide,” one that Evans described as both “ghastly and very pleasant.” Runs from Oct. 14 to May 11 https://www.metmuseum.org/ exhibitions/ oridas-anastasiasamoylova-and-walker-evans

PaleyFest NY

T he Paley Center for M edia — formerly the M useum of Television & Radio — is waiting until Sept. 9 to release a full lineup for this East Coast version of its West Coast fest. But it promises panels, screenings and conversations featuring the “biggest stars and hottest shows.” Early announcements include programming devoted to HBO’s “Somebody Somewhere,” the “Walking Dead” spinoff “Daryl Dixon: T he Book of Carol” and the 10th anniversary of Starz’s “Outlander.” Runs from Oct. 16 to 27 https://www.paleycenter.org/ events/paleyfest

‘Vladimir’

He’s coming back to Broadway! OK, technically Erika Sheffer’s new play, “Vladimir,” isn’t a sequel to Peter Morgan’s “Patriots,” last year’s Broadway show that concerned how Russia’s current president was enabled into power. But there’s certainly connectivity. This one, presented by Manhattan Theatre Club, focuses on a reporter (Francesca Faridany) during Putin’s rst term who uncovers a story with dangerous implications. Two-time Tony winner

Norbert Leo Butz also stars. Opens Oct. 16 https://www.manhattantheatreclub. com/shows/24-25-season/vladimir

‘Pets and the City’

Yes, you will see artwork, memorabilia and lm clips of adorable urban creatures. But this New York Historical Society exhibition also will address issues of pet adoption, the traf cking of exotic animals and the role of service beasts while also going way back to show how animals were included in the lives of the Lenape and the Haudenosaunee. Runs from Oct. 25 to April 20 https://www.nyhistory. org/exhibitions/ pets-and-the-city

‘King Lear’

302-kenneth-branagh-in-king-learby-william-shakespeare

‘Crime and Punishment’

Music by Isobel Waller-Bridge (who also composed the scores for her sister Phoebe’s TV hit “Fleabag” as well as the screen’s “Emma”) fuels American Ballet Theatre’s new adaptation of the Dostoevsky classic, choreographed by

November

New York Comedy Festival

In addition to watching a parade of standup comics — including Tracy Morgan, Gabriel Iglesias, Dave Attell and Ms. Pat — at this year’s fest, you can catch some of the genre’s most popular podcasters doing their podcast thing. Speci cally, this refers to the bonkers trio of hosts for “How Did This Get Made,” which specializes in skewering Hollywood mis res, as well as “Conan O’Brien Needs a Friend,” essentially an interview show with lots of personal asides.

What is the ideal age at which to play the lead in Shakespeare’s epic tragedy? Stamina is certainly required, including the ability to carry daughter Cordelia. But fragility is also necessary for maximum impact as this “weak and despis’d old man.” T he question will surely arise again as Kenneth Branagh, in his early 60s, both stars in and directs this production of the classic tragedy/ actor tester. When Branagh staged it in London, it ran a brisk two hours with no intermission, which may raise the eyebrows of scholars but please those easily intimidated by the Bard. Previews begin Oct. 26 https://www.theshed.org/program/

Helen Pickett. In case it’s been a while since your lit class, here’s the nutshell: The plot concerns a young man wrestling with the question of whether murder can be justi ed. Runs from Oct. 30 to Nov. 3 https://www.abt.org/events/ crime-and-punishment

‘Ragtime’

There are those who accuse City Center’s Encores series of mission creep — that its origins as a place where lost musicals could be heard has given way to well-known shows being tested for Broadway (see recently “Parade,” “Into the Woods” and “Once Upon a Mattress”). Where at one time it provided the likely only chance to hear “Allegro,” “DuBarry Was a Lady” and “Do Re Mi,” now we get a redo of “Ragtime,” which has had productions around the country as well as a Broadway revival. But with its glorious score played by a large orchestra and a strong lineup of talent — including Joshua Henry, Shaina Taub and Caissie Levy — why complain?

Runs from Oct. 30 to Nov. 10 https://www.nycitycenter.org/ events-tickets/2024-2025-season

Runs from Nov. 8 to March 9 https://www.guggenheim.org/ exhibition/harmony-and-dissonanceorphism-in-paris-1910-1930

‘Lillie P. Bliss and the Birth of the Modern’ Even avid visual arts a cionados may not recognize Lillie P lummer Bliss’s name. But as one of the founders of T he M useum of M odern Art, who donated a signi cant part of her collection to the institution, she was key in both its creation and its continuation. T his exhibition features 40 of those pieces, including works by Seurat, Cézanne and P icasso. Runs from Nov. 17 to March 29 https://www.moma.org/calendar/ exhibitions/5737

‘Gypsy’

Hold your hats and hallelujah, Audra M cDonald is taking on the landmark role of M ama Rose in this George C. Wolfe-directed revival of what is considered by many to be Broadway’s greatest musical. What mark she’ll make on the show — which previously won acclaim with Ethel M erman, Angela Lansbury, Bernadette Peters, Tyne Daly, and Patti Lu Pone starring — is just part of the thrill. Previews begin Nov. 21 https://gypsybway.com

December

Runs from Nov. 8 to 17 https://nycomedyfestival. com

‘Harmony and Dissonance: Orphism in Paris, 1910–1930’ T he term Orphism comes from poet Guillaume Appollinaire, who used it to describe physically and spiritually transcendent art. And the Guggenheim M useum will be devoting ve levels of its gallery space to exploring that de nition in greater detail. T he show will feature about 100 abstract works from the movement, born in Paris in the early 1910s, including pieces by Robert and Sonia Delaunay, M arcel Duchamp and M ainie Jellett.

‘Journey Live’ No, it’s not the “Don’t Stop Believin’” band. T his “Journey” refers to the hugely popular — and visually praised — video game. At the Brooklyn Academy of M usic, experience creators Ode to Joy and composer/conductor Austin Wintory harness the forces of the American Composers Orchestra for a concert and gaming experience in which live musicians will respond in real time to the action of live game players. Runs from Dec. 6 to 7 https://www.bam.org/installation/ 2024/journey

‘A John Waters Christmas’ Tired of sugar plum fairies and Scrooge visitors? John Waters has a show for you. City Winery will host the king of outrageous cinema for an evening of “holiday jeers.” Past monologues have included rants against gift cards and the Easter Bunny, anecdotes about opening strangers’ presents and explicit jokes involving Alvin and the Chipmunks. Dec. 15 https://citywinery.com/new-york-city

In a photo by William Davis Hassler, Father Teizen offers a treat to his well-trained dog, Brownie, who sits up right on cue from “Pets and the City.” NEW-YORK HISTORICAL SOCIETY

Anastasia Samoylova’s Gatorama (2020) is featured in “Floridas” at the Met. | ANASTASIA SAMOYLOVA / METROPOLITAN

Robert Delaunay’s “Circular Forms (Formes circulaires)” is featured in the Guggenheim’s “Harmony and Dissonance: Orphism in Paris.” | PHOTO: KRISTOPHER MCKAY, SOLOMON R. GUGGENHEIMMUSEUM, NEW YORK

Jessica Revell as Cordelia and Kenneth Branagh as the titular royal in “King Lear” at Wyndham’s Theatre in London last fall.

JOHAN PERSSON / COURTESY OF KBTC

MTA sues Harlem landlords to advance Second Avenue subway

By Caroline Spivack

e Metropolitan Transportation Authority is suing the owners of three Harlem apartment buildings near East 110th Street, accusing them of refusing to give construction crews access that would advance the next leg of the Second Avenue subway.

e MTA said in court papers that for more than a year transit o cials have sought to enter 2100, 2146 and 2148 Second Ave-

nue to carry out pre-construction surveys and reinforce parts of one building as protective measures ahead of work to relocate nearby utilities. But after several failed attempts to reach an agreement, the authority said negotiations are at a standstill and that the MTA must seek court intervention or risk “costly delays” to the $7.7 billion subway expansion project, according to a pair of lawsuits led in Manhattan supreme court last month.

e MTA said in both lawsuits that damages as a result of continued delays “will be enormous.”

e authority did not share an estimate of how much delayed access to the buildings has cost it to date, but MTA spokeswoman Kayla Shults said delays can cost the agency thousands of dollars per day. Shults added that legal action is considered only as a "last resort" when property owners are not responsive.

In one lawsuit the MTA is asking that a judge give the authority access to 2100 Second Avenue on the corner of East 108th Street, to make repairs and strengthen parts of the building ahead of a planned expansion of the Q subway line from 96th Street on the Upper East Side up to 125th Street in Harlem.

Second lawsuit

Transit o cials in a second lawsuit are also petitioning a judge for access to 2146 Second Avenue and 2148 Second Avenue, just o of Tito Puente Way, to survey the properties and make city-required changes to a cellar and steps before the subway expansion can advance.

City property records list Croman Realty Co., the firm owned by notorious landlord Steven Croman, as the owner of 2100 2nd Ave LLC. City records list Maksim S. Drivin, the president of The Drivin Group, as the owner of 2146-48 Second Avenue De LLC.

Croman and Drivin did not return calls and messages for comment and have yet to respond to the MTA in court papers.

Transit o cials advanced the authority’s rst construction contract for the Second Avenue subway expansion in January.

e MTA awarded Queens-based

C.A.C. Industries Inc. $182 million to relocate utility lines that run along Second Avenue and nearby streets.

In June, the MTA brie y shelved the initial work on the subway expansion after Gov. Hochul postponed congestion pricing and the $15 billion in revenue the tolls were expected to generate tonance mass transit projects like the next phase of the Second Avenue subway. A month later Hochul said she had dedicated $54 million from state funds to revive the subway extension work, but billions more will be needed to see the project to completion.

The MTA is asking a judge to give construction crews access to 2100 2nd Ave. and two other properties to advance the next leg of the Second Avenue subway. BUCK ENNIS

2146 2nd

HIGHEST-PAID CEOS IN THE NEW YORK AREA

HIGHEST-PAID CEOS IN THE NEW YORK AREA CRAIN’S LIST

Source: S&P Global Market Intelligence. Additional research by Amanda Glodowski (amanda.glodowski@crainsnewyork.com). NewYorkarea includesNewYorkCityandNassau,SuffolkandWestchestercountiesinNewYorkandBergen,Essex,HudsonandUnioncountiesinNewJersey.Thisrankingisbasedon Crain's most recentlistofthelargestpubliclyheldcompaniesintheNewYorkarea.ExecutivesneededtoholdtheCEOtitlein scalyear2022fortheirrespectivecompanies.ExecutivesmaysharetheCEOtitleand/or haveadditionaltitles.Compensationdataarederivedfromcompany lingsavailablefromtheSecuritiesandExchangeCommission.BasesalariesaretakenasdisclosedfromtheSummaryCompensation Tableandarenotannualizedforexecutivesemployedforlessthanafull scalyear.Themostrecentdataforcompanieswith scalyearsendinginMarchthroughDecemberarefortheyearendedin 2022,andthemostrecentdataforcompanieswith scalyearsendinginJanuaryandFebruaryarefortheyearendedin2023.Compensationand nancial guresareexpressedinthemillions.Rankings arecompiledwithunroundednumbers.Some guresstatedaszerohaveavalueunder$50,000. Totalcompensation representsthesumofbasesalary,bonus,nonequityincentiveplans,grantdatefair valueofoptionandstockawards,deferredcompensationandothercompensation.Salarymaybepaidforafullorpartialyeariftheexecutivebeganemploymentduringtheyear. Nonequityincentive plan representscashawardsearnedinconnectionwithshort-andlong-termincentiveplanawards. Optionawards representtheaggregategrantdatefairvalueofserviceandperformance-based optionawards. Stockawards representtheaggregategrantdatefairvalueofserviceandperformance-basedstockawards. Deferredcompensation representsthechangeinpensionplan/nonquali

deferredcompensationearnings.

Source: S&P Global Market Intelligence. Additional research by Amanda Glodowski (amanda.glodowski@crainsnewyork.com). NewYorkarea includesNewYorkCityandNassau,SuffolkandWestchestercountiesinNewYorkandBergen,Essex,HudsonandUnioncountiesinNewJersey.Thisrankingisbasedon Crain's most recentlistofthelargestpubliclyheldcompaniesintheNewYorkarea.ExecutivesneededtoholdtheCEOtitlein scalyear2022fortheirrespectivecompanies.ExecutivesmaysharetheCEOtitleand/or haveadditionaltitles.Compensationdataarederivedfromcompany lingsavailablefromtheSecuritiesandExchangeCommission.BasesalariesaretakenasdisclosedfromtheSummaryCompensation Tableandarenotannualizedforexecutivesemployedforlessthanafull scalyear.Themostrecentdataforcompanieswith scalyearsendinginMarchthroughDecemberarefortheyearendedin 2022,andthemostrecentdataforcompanieswith scalyearsendinginJanuaryandFebruaryarefortheyearendedin2023.Compensationand nancial guresareexpressedinthemillions.Rankings arecompiledwithunroundednumbers.Some guresstatedaszerohaveavalueunder$50,000. Totalcompensation representsthesumofbasesalary,bonus,nonequityincentiveplans,grantdatefair valueofoptionandstockawards,deferredcompensationandothercompensation.Salarymaybepaidforafullorpartialyeariftheexecutivebeganemploymentduringtheyear. Nonequityincentive plan representscashawardsearnedinconnectionwithshort-andlong-termincentiveplanawards. Optionawards representtheaggregategrantdatefairvalueofserviceandperformance-based optionawards. Stockawards representtheaggregategrantdatefairvalueofserviceandperformance-basedstockawards. Deferredcompensation representsthechangeinpensionplan/nonquali ed deferredcompensationearnings. Othercompensation representsthevalueofnonpensionbene tsandperquisites. 1. Compensation guresincludecompensationfrombothMadisonSquareGarden

New York City Health + Hospitals plan to cut new primary care appointment times alarms physicians

By Ethan Geringer-Sameth

New York City Health + Hospitals is cutting new adult and pediatric primary care appointment times in half to move more patients through the door as wait times pile up. Doctors say the change will be untenable and could harm patient health.

Beginning this month, the public hospital system plans to bring the time allotted for primary care intake appointments from 40 minutes to 20 minutes, according to doctors who have been briefed on the changes and internal documents reviewed by Crain’s . e hospital says the

ternal memo shared with Crain’s. e hospital system will also be lengthening the time between some revisit appointments in order to di use the burden on its resources, the memo said.

50,000 more patients

Since 2021, public hospitals have seen nearly 50,000 more primary care patients, according to H+H spokeswoman Stephanie Buhle. Wait times for the thirdnext available appointment (a common metric because rst and second appointments are often free due to cancellations) have gone from 12 days last year to 22 days this year, she said. With 40% of patients missing their appointments, doctors will get additional time back to complete cases, she added.

The decision was made by hospital administrators without consultation with front-line staff. Many doctors were blindsided by the news.

move is necessary to address an increasing demand for new appointments, which has driven up the time it takes to see a doctor.

But some primary care doctors say the shortened period will be inadequate for doctors to make informed decisions, putting patients in danger and leading to burnout and attrition among clinicians.

e decision, which was rst reported by Politico, will apply to adult primary care, virology, geriatrics and pediatrics across all acute care facilities and Gotham Health sites, according to an in-

e in ux of migrants to the city has also increased the demand for new primary care appointments at the public hospital system, which primarily serves people who are uninsured or on Medicaid, said Dr. Frances Quee, president of Doctors Council, a union representing 3,000 doctors in New York City and the Chicago area.

e 20-minute clock will apply not just to the time a patient sees a doctor, but also the time it takes to review a patient’s charts beforehand and write orders and notes afterward, explained Dr. Andrew Goldstein, a primary care physician at Bellevue Hospital in Kips Bay, who was briefed on the change and called it “utterly inadequate.”

Obtaining interpretation ser-

NYU buys dorm in East Village for $69M

Julianne Cuba

New York University has splurged on an East Village dormitory building for just over $69 million, according to a deed that appeared in the city register on Aug. 22.

e nearly 200-year-old institution of higher education, based near Washington Square Park but with campuses all over the world, acquired 35 Cooper Square for $69.2 million from a joint venture between two Midtown-based real estate rms, Sherwood Equities and Bhatia Development, records show.

Sherwood and Bhatia initially bought the property — one of the neighborhood’s oldest federal-era houses, which preservationists at the time advocated to have landmarked — under a limited liability company named after the address for $8.5 million in 2010, records show. e two rms demolished the historic building, however, and

vices, needed for a large proportion of H+H clientele, also digs into a doctor’s time with a patient.

Buhle said the wait time for a Spanish interpreter is now “less than 10 seconds,” though Goldstein noted 10 minutes was not atypical for language services in general.

“I’m not going to rush and put my license on the line,” said Quee, a pediatrician at Gotham Health, Belvis, in the South Bronx. New patients will end up with longer appointments when they need to see other clinicians, like social workers, behavioral care specialists and imaging, according to Buhle. e hospital will also add

more physician assistants to support doctors, including by handling prior authorization. But doctors said many of the tasks required of a rst visit could not be delegated and the work of an assistant still requires their review.

Quee said the decision was made by hospital administrators without consultation with frontline sta . Many doctors were blindsided by the news when they were told recently. H+H administrators will hold two webinars on the changes for patientfacing doctors early this month, according to the memo.

In a July town hall, H+H President and CEO Dr. Mitchell Katz

told members of the Doctors Council that 20 minutes was sucient for new appointments because patients could be scheduled for a follow-up visit if more time is needed, according to Quee and Goldstein, who is also part of the union. Buhle defended the statement, saying it bene ts patients to return after lab results have come in.

“So this was something they were already thinking then,” said Quee, “they’re just bringing it up now.” Goldstein called the proposition “a huge waste of time” and “risky” for patients with health complications who may need more attention.

redeveloped the site, between East Fifth and East Sixth streets, into dorms and entered into a longterm lease agreement with Marymount Manhattan College, a private university on the Upper East Side.

Lease terminated

It’s unclear how much Marymount was paying for the space or how many of the building’s rooms were occupied by students attending the college — but records show that the lease was terminated in July. A spokesman for Marymount referred questions to Bhatia, which did not respond to a request for comment. Sherwood also did not immediately respond to a request for comment.

It’s also unclear what NYU has in store for the building, where a bakery still occupies the ground oor. NYU’s executive vice president, Martin Dorph, signed the

deed on behalf of the university. NYU is considered one of the city’s largest and wealthiest landlords, and, like other private colleges, it bene ts from tax exemptions on its real estate. Last year NYU acquired a Kips Bay apart-

ment building for $210 million — one of 2023’s priciest transactions.

And the total assessed value of NYU's holdings is about $1.8 billion, just below Columbia University’s total, but NYU is taxed on just $120 million of that, thus enjoying

nearly $1.7 billion in savings, according to a Crain's analysis.

Attorney Michael Smith of the Manhattan-based law rm Herrick Feinstein, who was involved in the transaction, did not respond to a request for comment.

Harlem Hospital | COURTESY OF DASNY.ORG

35 Cooper Square COSTAR

Be in the room as we break news live on stage.

Long-planned 84-unit affordable housing project on city-owned UWS parking lot moves forward

Eddie Small

A prominent senior living and supportive housing nonpro t appears to be moving ahead on a residential project it has long been planning for the Upper West Side.

e West Side Federation for Senior and Supportive Housing intends to build a development standing 12 stories tall with 84 residential units at 105 W. 108th St., according to plans recently led with the Department of Buildings.

e project would span about 66,000 square feet and stand 122 feet tall with low-income housing and o ce space on the rst oor,

and has 198 residential units overall, split between 119 supportive studios for formerly homeless people older than 55 and 79 affordable housing units for families.

Housing for older adults

e federation planned for the residential units at 105 W. 108th St. to consist entirely of supportive or a ordable housing for older adults, according to a 2017 environmental impact statement about the project. e nonpro t hoped to start construction in 2023 and have the project nished by 2025, the statement said.

Mayor Eric Adams recently directed city agencies to look at their properties and determine which ones could be good ts for residential developments.

the ling says.

e project would be located on a city-owned parking lot, and plans for it date back to at least 2017, according to city documents. It is part of a project the nonpro t has dubbed WSFSSH at West 108, which also includes a development at nearby 145 W. 108th St. at building opened in April 2021

However, the nonprofit now plans to start construction in the second half of 2025 or early in 2026 and nish the project about two years from then, according to Jenna Breines, the organization’s real estate development director. e project should consist entirely of senior housing with on-site supportive services, she said.

e city still owns 105 W. 108th St. but sold 145 W. 108th St. to the federation in 2018, according to property records. It will o cially transfer 105 W. 108th St. to the nonpro t after it has secured all the nancing and remaining approvals for the project, according to Breines.

A representative for the Department of Housing Preservation and Development did not respond to a request for comment by press time.

e nonpro t was founded in

Developer plans to demolish former home of popular Tribeca bar

By Eddie Small

A developer behind several residential buildings in the city appears to have another one in mind for Tribeca.

Prosper Property Group recently led demolition permits with the Department of Buildings for 32 Walker St., a 2-story commercial building located between Broadway and Church Street in Lower Manhattan. e real estate rm, based nearby on Lafayette Street in Chinatown, purchased the site in February for about $5.3 million,

1989, and its estimated retail rents ranged from $74 to $90 per square foot, according to the commercial real estate database CoStar.

Luxury condo development

Real estate rm Prosper Property Group appears to be planning a luxury condo project at 32 Walker St.

property records show.

e building, which is also addressed as 305-307 Church St., spans 3,500 square feet and stands 23 feet tall, city records show. It was built in 1954 and renovated in

Prosper Property Group, led by CEO Damien Smith and CFO Eddie Bender, seems to have a luxury condo development planned for the site. A representative for the rm declined to comment on the project, but Prosper’s website lists a 7-story, 29,000-square-foot development with six luxury condo units as under development at the address. e site was once home to the popular bar Belle Reve, but it closed March 30, seemingly to make way for the new development, according to an Instagram post from the restaurant that month.

“We tried to stall until the new owners of the entire corner had all their needed necessary approvals,” the post reads. “However, a lock and lawsuit would be more than we could a ord.”

1976 and is headquartered on the Upper East Side. e bulk of its buildings are on the Upper West Side, although it has properties in Harlem, Chelsea and the Bronx as well.

Mayor Eric Adams recently di-

rected city agencies to look at their properties and determine which ones could be good ts for residential developments, part of his administration’s e ort to confront the severe housing shortage facing the city.

e restaurant has since relocated to a temporary spot close by, at 311 Church St., according to its Instagram page. e Tribeca Citizen, a local news site, previously reported on Belle Reve’s closure

and potential development plans at the address.

Prosper has other multifamily projects at 63 Pitt St. and 282 Grand St. on the Lower East Side, along with multiple developments

in Brooklyn and Queens. e rm was also part of an investor group that recently purchased the o ce building at 57 Willoughby St. in Downtown Brooklyn for $48

million.

105 W. 108th St., where the West Side Federation for Senior and Supportive Housing plans to build an 84-unit residential project BUCK ENNIS

32 Walker St. | COSTAR

A year after it opened way over budget, MTA to spend millions more to nish work at Grand Central Madison

By Caroline Spivack

A year after the opening of Grand Central Madison, the Metropolitan Transportation Authority expects to spend tens of millions of dollars more to wrap up the station’s buildout.

e MTA has issued a solicitation for a contractor to carry out between $10 million and $50 million in “miscellaneous remaining work” on the Long Island Rail Road station. Grand Central Madison, also known as East Side Access, opened to the public in January 2023 after years of delays and

As part of the solicitation, the MTA is seeking a contractor to install and modify components of the re alarm system, set up security cameras, carry out escalator-related work and perform utility work for the retail spaces on the concourse, among other odd jobs, according to MTA documents.

Tying up loose ends

Transit of cials are looking for a contractor to perform up to $50 million in odd jobs at the pricey Long Island Rail Road station.

soaring costs that, with an $11 billion price tag, turned it into one of the world’s most expensive mass transit projects.

But work isn’t quite complete 18 months later.

e procurement ties up loose ends for more than 40 separate contract packages that went into the station’s construction, according to MTA spokeswoman Joanna Flores. e e ort, Flores added, also includes infrastructure work to make the station’s 25,000 square feet of commercial space across 32 dining and retail spaces more enticing for someone to lease, which the authority issued a Request For Proposal for in April. Final proposals for someone to manage the retail space were due in June and the authority has said it aims to select one vendor to oversee all the retail space by the fall so that it can ink deals with restaurants and shops that

would open sometime in 2025. So far, the MTA has just one longterm lease inked for the station’s retail and dining: a 10-year lease with former Penn Station watering hole Tracks Raw Bar & Grill, for

roughly 2,700 square feet.  Luring someone to lease the station’s retail concourse is the nal obstacle to making Grand Central Madison not just a transit hub but a Midtown retail destination.

Once a contractor is selected, the MTA says it expects the miscellaneous work to take 13 months to complete, according to the solicitation. Bids will be accepted through Sept. 12.

Commuters walk through the main concourse of Grand Central Madison. | BUCK ENNIS

CLASSIFIEDS

Quantitative Developer (Citadel Securities Americas Services LLC – New York, NY); Mult pos avail. Offer’ng salary of $160,000 - $200,000 per year. Dvlp & deploy internal apps & software solut for quant rsrch platforms. Design low-latency, highthroughput trading systms & infrastructure. F/T. Resumes: citadelrecruitment@citadel.com. Ref. JobID: 8528017

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Quantitative Researcher I (Citadel Americas Services LLC – New York, NY); Mult. Pos. Avail. Formulate math and sim models of complex mkt prob, relating constants and var, restrictions, altern, conflicting obj, and their num param using tech, math and stat modeling, and comp syst. Provide tech & invstmnt analytics support to the trade desks. F/T. Salary range $175,000 - $250,000/yr. Resumes: citadelrecruitment@citadel.com. Ref. JobID: 8528039

Quantitative Researcher I (Citadel Securities Americas Services LLC – New York, NY); Mult. Pos. Avail. Formulate math and sim models of complex mkt problems, relating constants and variables, restrictions, alternatives, conflicting obj, and their num parameters using tech, math and stat modeling, and computer sys. Perform & analyze mrkt micro-structure trading sims to dvlp trading strats. F/T. Salary range $175,000 - $250,000/yr Resumes: citadelrecruitment@citadel.com. Ref. JobID: 8528022

Quantitative Researcher II (Citadel Americas Services LLC – New York, NY); Mult. Pos. Avail. Offering salary of $225,000 - $275,000/year. Formulate adv math and simulation models of complex mkt problems, relating constants and variables, restrictions, alternatives, conflicting objectives, and their num parameters using tech, math and stat modeling, and comp sys. Conceptualize trading strats, dvlp & enhance math models & research tools, & translate algos into code. F/T. Resumes: citadelrecruitment@citadel.com. Ref. JobID: 8528049

Quantitative Researcher II (Citadel Securities Americas Services LLC – New York, NY); Mult. Pos. Avail. Formulate adv math and sim models of cmplx mkt problems, relating constants and variables, restrictions, alternatives, conflicting objectives, and their num parameters using tech, math and stat modeling, and computer sys. Perform & analyze mrkt micro-structure trading sims to dvlp trading strats. F/T. Salary range $225,000 - $275,000 /yr. Resumes: citadelrecruitment@citadel.com. Ref. JobID 8528023

Trader (Citadel Securities Americas Services LLC – New York, NY) Mult. pos. avail. Offer’ng salary of $140,000 to $225,000 per year. Monitor & analyze incoming market information, economic news & trad’g activity to manage portfolio risk, identify investment opportunities & make trad’g decisions. Work w/ quant rsrchrs, tech teams & analysts to make process-driven trading decisions based on stat methods & fundmntl insight across a large distributed portfolio. F/T. Resumes: citadelrecruitment@citadel.com. Ref: JobID: 8528020

Notice of Qualification of ESRT 9294 NORTH 6TH STREET, L.L.C. Appl. for Auth. filed with Secy. of State of NY (SSNY) on 06/26/24. Office location: NY County. LLC formed in Delaware (DE) on 06/11/24. Princ. office of LLC: 111 W. 33rd St., NY, NY 10120. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co. (CSC), 80 State St., Albany, NY 122072543. DE addr. of LLC: c/o CSC, 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State, 401 Federal St., Ste. 3, Dover, DE 19901. Purpose: Any lawful activity.

QUILLIAN, LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 05/20/24. Office location: Bronx County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to; 135 W. 225TH ST, APT 5F, Bronx, NY 10463 Purpose: Any lawful activity

Notice of Formation of MOMOHEALTH LLC Arts of Org filed with Secy of State of NY (SSNY) on 5/13/24. Office Location: NY County. SSNY designated as agent upon whom process may be served and shall mail copy of process against PLLC to 1466 1st Ave, 3A, NY, NY, US 10075. Purpose: any lawful act.

Notice of Qualification of RADIATE CAPITAL PARTNERS, LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/19/24. Office location: NY County. LLC formed in Delaware (DE) on 07/21/23. Princ. office of LLC: 3 Columbus Circle, 24th Fl., NY, NY 10019. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co. (CSC), 80 State St., Albany, NY 12207-2543. DE addr. of LLC: c/o CSC, 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State, Div. of Corps., John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.

Notice of Qualification of FOUR LION CAPITAL, LP Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/22/24. Office location: NY County. LP formed in Delaware (DE) on 07/09/24. NYS fictitious name: FOUR LION CAPITAL, L.P. Duration of LP is Perpetual. SSNY designated as agent of LP upon whom process against it may be served. SSNY shall mail process to the Partnership, 575 5th Ave., 15th Fl., NY, NY 10017. Name and addr. of each general partner are available from SSNY. DE addr. of LP: c/o Corporation Service Co., 251 Little Falls Dr., Wilmington, DE 19808. Cert. of LP filed with Secy. of State of DE, Dept. of State, Div. of Corps., John Townsend Bldg., 401 Federal St., Dover, DE 19901. Purpose: Any lawful activity.

Notice of Qualification of AMP CAPITAL VENTURES, LLC

Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/08/24. Office location: NY County. LLC formed in Delaware (DE) on 07/01/24. Princ. office of LLC: 90 Park Ave., NY, NY 10016. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co. (CSC), 80 State St., Albany, NY 122072543. DE addr. of LLC: CSC, 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with DE Secy. of State, John G. Townsend Bldg., 401 Federal St., Dover, DE 19901. Purpose: Any lawful activity

Notice of Formation of KOPRULU DESIGN LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 5/27/24. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to 244 Madison Ave #1105, NY, NY 10016.

Purpose: Any lawful activity

Notice of Qualification of AMBER 72 LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 06/25/24. Office location: NY County. LLC formed in Delaware (DE) on 02/27/17. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c/o Corporation Service Co., 80 State St., Albany, NY 12207-2543. DE addr. of LLC: 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Jeffrey W. Bullock, Secy. of State , DE Div. of Corps., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.

Notice of Qualification of CONSTRAFOR IRIDIUM LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/17/24. Office location: NY County. LLC formed in Delaware (DE) on 03/13/24. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co. (CSC), 80 State St., Albany, NY 12207-2543. DE addr. of LLC: c/o CSC, 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with DE Secy. of State, John G. Townsend Bldg., 401 Federal St., Dover, DE 19901. Purpose: Any lawful activity

THEORO LLC Arts of Org filed w/SSNY 03/31/2024. Office: NY Co. SSNY designated agent for process and shall mail copy to LLC at 7014 13th Ave, #202, Bklyn, NY, 11228. Purpose: any lawful act."

The text of the legal notice is as follows: Fable & Harmony Studio, LLC Articles of Org. filed NY Sec. of State (SSNY) 7/3/24. Office in NY Co. SSNY desig. agent of LLC upon whom process may be served. SSNY shall mail copy of process to 131 7th Ave PMB 102, NY NY 10011. Purpose: Any lawful purpose.

Notice of Formation of PHILIP R. WEISSMAN, PLLC .Arts. of Org. filed with Secy. of State of NY (SSNY) on 04/4/24. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to; 625 West 57th ST, # 2309 New York, NY 10019. Purpose: Any lawful activity

Notice of Qualification of MATRIX HOLDINGS II DE L.P. Appl. for Auth. filed with Secy. of State of NY (SSNY) on 06/24/24. Office location: NY County. LP formed in Delaware (DE) on 04/18/24. Princ. office of LP: c/o The Blackstone Group Inc., 345 Park Ave., NY, NY 10154. Duration of LP is Perpetual. SSNY designated as agent of LP upon whom process against it may be served. SSNY shall mail process to the Partnership at the princ. office of the LP. Name and addr. of each general partner are available from SSNY. DE addr. of LP: Corporation Service Co., 251 Little Falls Dr., Wilmington, DE 19809. Cert. of LP filed with Secy. of State of the State of DE, Jeffrey W. Bullock, 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.

Notice Of Formation of DIALMA Logistics LLC. Arts. of Org. filed w/SS of NY on 7/1/24, Office location: Bronx County. SSNY has been designated as agent of the LLC upon whom process against it may be served and shall mail a copy of process to principal business address: 600 Concord Ave 1J, Bronx, NY 10455. Purpose: For any lawful act

Notice of Qualification of ESRT 8191 NORTH 6TH STREET, L.L.C. Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/09/24. Office location: NY County. LLC formed in Delaware (DE) on 06/11/24. Princ. office of LLC: 111 W. 33rd St., NY, NY 10120. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co. (CSC), 80 State St., Albany, NY 12207. DE addr. of LLC: c/o CSC, 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State, 401 Federal St., Ste. 3, Dover, DE 19901. Purpose: Any lawful activity.

Notice of Qualification of VerisFi, LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 08/14/24. Office location: NY County. LLC formed in Delaware (DE) on 08/17/22. Princ. office of LLC: 222 Lakeview Ave., Ste. 800, W. Palm Beach, FL 33401. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC at the princ. office of the LLC. DE addr. of LLC: c/o Corporation Service Co., 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State, 401 Federal St., Ste. 3, Dover, DE 19901. Purpose: Any lawful activity.

Notice of Qualification of FOUR LION CAPITAL GP, LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/16/24. Office location: NY County. LLC formed in Delaware (DE) on 07/09/24. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c/o Four Lion Capital, LP, 575 5th Ave., 15th Fl., NY, NY 10017. DE addr. of LLC: c/o Corporation Service Co., 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State of DE, Dept. of State, Div. of Corps., John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.

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Notice of Formation of VICTORYFIEDLER ACQUISITION, LLC

Arts. of Org. filed with Secy. of State of NY (SSNY) on 07/24/24. Office location: NY County. Princ. office of LLC: 30 Hudson Yards, 72nd Fl., NY, NY 10001. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co., 80 State St., Albany, NY 12207. Purpose: Any lawful activity.

Notice of Formation of TENFORTY CENTRAL LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 08/13/24. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC, 590 Madison Ave., 6th Fl., NY, NY 10022. Purpose: Any lawful activity.

Notice of Qualification of RADIATE CAPITAL, LLC

Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/19/24. Office location: NY County. LLC formed in Delaware (DE) on 09/27/22. Princ. office of LLC: 3 Columbus Circle, 24th Fl., NY, NY 10019. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co. (CSC), 80 State St., Albany, NY 12207-2543. DE addr. of LLC: c/o CSC, 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State, Div. of Corps., John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.

Notice of Formation SKOPE CONSULTING LLC. Arts of Org Filed 6/10/24. Office: NY Co. SSNY designated as agent for process & shall mail to: 228 Park Ave S #894016, NY, NY 10003

Registered Agent: United States Corporation Agents, Inc., 7014 13th Ave , Ste 202, Bklyn, NY 11228. Purpose: Any lawful actvity

Notice of Qualification of ESRT 130-136 NORTH 6TH STREET, L.L.C. Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/09/24. Office location: NY County. LLC formed in Delaware (DE) on 06/11/24. Princ. office of LLC: 111 W. 33rd St., NY, NY 10120. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co. (CSC), 80 State St., Albany, NY 122072543. DE addr. of LLC: c/o CSC, 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State, 401 Federal St., Ste. 3, Dover, DE 19901. Purpose: Any lawful activity.

Notice of Formation of CHIP MEDIA LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 07/17/24. Office location: NY County. Princ. office of LLC: 435 Hudson St., NY, NY 10014. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c/o Corporation Service Co., 80 State St., Albany, NY 12207-2543. Purpose: Any lawful activity.

CL VISTA HOLDINGS LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 8/02/24. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to; 1293 Broadway, NY, NY 10001, USA Purpose: Any lawful activity

Notice of Formation of LIBERTY HILL PARTNERS LLC Arts of Org filed with the SSNY on 7/26/24 . Office: NY County. SSNY designated as agent upon whom process against it may be served. The SSNY shall mail a copy of any process against the LLC served upon him/her is: 228 Park ave S #566585, NY, NY 10003, USA.. Purpose: any lawful act or activity.

Notice of Formation of LEGACY NATIONAL TITLE AGENCY, LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 08/13/24. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co., 80 State St., Albany, NY 12207-2543. Purpose: Any lawful activity.

Notice of Formation RMMAP LLC. Arts of Org Filed 7/3/24. Office: NY Co. SSNY designated as agent for process & shall mail to: 222 W. 77th ST. #324228, NY, NY 10024. Registered Agent: United States Corporation Agents, Inc., 7014 13th Ave , Ste 202, Bklyn, NY 11228. Purpose: Any lawful actvity.

DREAM VARIATION ENTERTAINMENT LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 6/12/24. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to; 2248 Broadway, #1153, NY, NY 10024

Purpose: Any lawful activity

Notice of Qualification of COMFLUENCE LLC

Appl. for Auth. filed with Secy. of State of NY (SSNY) on 08/22/24. Office location: NY County. LLC formed in Delaware (DE) on 08/19/24. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c/o Corporation Service Co., 80 State St., Albany, NY 12207-2543. DE addr. of LLC: 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State, Div. of Corps., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.

Notice of Formation of ZACHARY COLIN DREW LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 7/26/24. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to 15 E. 30th St Apt 31E, NY, NY 10016. Purpose: Any lawful activity

formed

(DE) on 08/13/24. Princ. office of

1 Vanderbilt Ave., NY, NY 10017. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co., 80 State St., Albany, NY 12207-2543. DE addr. of LLC: 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Jeffrey W. Bullock, 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.

Notice of Formation of 34 WEST 95TH STREET LLC

Arts. of Org. filed with Secy. of State of NY (SSNY) on 08/22/24. Office location: NY County. Princ. office of LLC: 34 W. 95th St., NY, NY 10025. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC at the addr. of its princ. office. Purpose: Any lawful activity.

NOTICE OF FORMATION of SOMETHING ABOUT L.L.C. Arts of Org filed with Secy. of State of NY (SSNY) on 7/3/24. Office location: NY County. SSNY designated as agent upon whom process may be served and shall mail copy of process against LLC to 228 Park Ave S, #584937, NY, NY 10003. R/A: US Corp Agents, Inc. 7014 13th Ave, #202, BK, NY 11228. Purpose: any lawful act.

bring the city closer to creating a continuous pedestrian and bike path around Manhattan.

But the city did not always plan to cover the full cost of the project. In a widely reported 2011 deal with then-Mayor Michael Bloomberg’s administration, the United Nations Development Corp. — a quasi-public state entity that handles the U.N.’s real estate — agreed to pay $73 million toward the greenway project as part of a land deal.

e city agreed to turn over part of Robert Moses Playground, a small park just south of the U.N. campus, where the UNDC planned to build a glassy 500-foot o ce tower. e fees paid by the UNDC for the land would have gone toward the greenway, according to the deal, and the city would have raked in hundreds of millions of dollars in additional money for the esplanade by selling two existing buildings at 1 and 2 United Nations Plaza that the U.N. planned to vacate once the new tower was ready.

But the tower was never built, despite initial expectations that the U.N.’s General Assembly would quickly approve the deal reached by the UNDC. Since then, the UNDC has indicated in public documents that the tower, known as the Consolidation Building, is

all but dead.

“ e UN Secretary General has recommended that the UN pursue the Consolidation Building in his reports to the UN General Assembly. At the end of 2015, however, the UN General Assembly and its committees took actions to again postpone decisions on the space needs of the UN in New York City,” the corporation wrote in a 2015 report. “ ese actions mean that either the nancing and construc-

tion of the Consolidation Building may not occur for a number of years or that the project may not proceed at any time.”

In a subsequent 2021 report, the UNDC stated that the building “is not currently being considered as an option to consolidate and accommodate the UN’s long-term space needs.”

e UNDC did not respond to a request for comment. State Sen. Liz Krueger, who formerly repre-

sented the area and helped line up state approvals for the project back in 2011, con rmed in a text message that the U.N. had “decided not to go forward.”

e result is that the city, which has faced a budget crunch in recent years, will apparently foot the entire bill. EDC spokeswoman Adrien Lesser said the city “continues to work in close collaboration with the U.N. on this project.”

e city in December opened

“These remarkable capital projects will not only improve quality of life for New Yorkers but expand opportunities to commute by bike or foot while enjoying spectacular views on the East River.”

Adrien Lesser, EDC spokeswoman

the latest 1-mile section of the greenway between East 60th and 54th streets, leaving the U.N. stretch as the most conspicuous remaining gap on Manhattan’s East Side. Lesser said that hiring a construction team will be “another critical milestone towards completing the remaining gaps in the Manhattan Waterfront Greenway.”

“ ese remarkable capital projects will not only improve quality of life for New Yorkers but expand opportunities to commute by bike or foot while enjoying spectacular views on the East River,” she said. e city is currently in the early stages of designing the 12-block extension, and expects to complete that planning by 2026 before constructing the esplanade by 2028.

A rendering of the future East River greenway extension between East 41st and 53rd streets, which was initially supposed to be funded by a land deal with the United Nations Development Corp. under a 2011 agreement with the city NYC ECONOMIC DEVELOPMENT CORP.

Food Network star re-enters the New York scene with new restaurant

Marc179 opened in Landmarc’s former Tribeca space earlier this year

By | Eddie Small

Before starting his culinary career, acclaimed chef Marc Murphy wasn’t sure if he would be able to nd a job that he would actually be good at. “I’m very dyslexic. I had a hard time staying in school,” he said. “I ended up cooking because I knew I didn’t have to read or write.”

Murphy’s life in the food industry has since led him to work at — or start — prestigious restau-

“I’m very dyslexic. I had a hard time staying in school. I ended up cooking because I knew I didn’t have to read or write.”

rants in Paris, Monte Carlo and New York, and he is a frequent presence on the Food Network. But he still speaks of his entrance into the culinary world as little more than a happy accident that began as a way to pay back his brother for letting him crash at his New York apartment. Happy accident

“Since I felt bad I wasn’t paying

rent, I would cook dinner all the time,” he said. “After a while, my brother was like, ‘You seem to like to cook. Why don’t you go to cooking school?’ ” Murphy took his brother up on this advice and went to a threemonth cooking program in the city at what is now called the Institute of Culinary Education. He worked with chefs including David Pasternak and Sylvain Portay before going out on his own in 2004, when he opened up his Landmarc restaurant at 179 W. Broadway in Tribeca.

Landmarc was well received upon its opening, and Murphy eventually amassed a fairly large portfolio of eateries throughout Manhattan. ese included Ditch Plains in the West Village and on the Upper West Side, Kingside in Midtown and another Landmarc at the Time Warner Center. In the late 2010s, however, Murphy all but left the New York restaurant scene, closing down many of his eateries over factors such as sky-high rents and issues with his landlords. e timing of these decisions turned out to be relatively fortuitous, as they meant he did not have to navigate

trying to run a restaurant during the Covid pandemic, which infamously upended the industry.

“All my friends are calling me: ‘What the fuck? You knew about this?’ ” Murphy said. “I was like, ‘No, I got lucky. I really got lucky.’ ”

Gut renovation

Murphy used the pandemic to do a gut renovation of the former Landmarc restaurant space, which he owns. He reopened the eatery earlier this year as Marc179. It is open just three consecutive days each month with a $75 prix- xe menu that changes monthly. e rest of the time, the building operates as a demo kitchen, private event space and lm studio.

Murphy enjoys having a toe back in the restaurant industry, and even though he was not managing any establishments during the peak of the pandemic, he has noticed at least one major change in the industry since then: earlier dinner times.

“ e funniest thing I nd about the dining scene is the amount of tables that come in at 5:30,” he said. “People go out much earlier now, and they go to bed earlier, which is really weird for New York.”

Marc Murphy

Age 55

Grew up Everywhere, given that his father was a diplomat. He had particularly long stints in Paris and Rome.

Resides Upper West Side Education The Institute of Culinary Education, formerly known as Peter Kump’s New York Cooking School

Family life Murphy is married with two children, a 21-year-old daughter and a 17-year-old son.

‘The Bear’ beef Murphy doesn’t watch the hit FX show “The Bear,” about the restaurant industry. But he does nd its catchphrase

“Yes, chef,” used to refer to everyone working in the kitchen, somewhat confusing. “There’s only usually one chef in the kitchen,” Murphy said. “Imagine if there was an orchestra (where) everybody was (called) a conductor. I mean, it doesn’t work that way.”

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Chef Marc Murphy’s new eatery is open just three days each month. The rest of the time, the building operates as a demo kitchen, private event space and lm studio. | BUCK ENNIS