Crain's New York Business, October 14, 2024

Adams’ new top deputy calms city businesses

After the mayor’s indictment and a wave of high-level resignations, Maria Torres-Springer’s promotion could help bring stability

yB Nick Garber

When Mayor Eric Adams promoted Maria Torres-Springer to the number-two job in City Hall on Oct. 8 he eased — at least momentarily — some of the growing uncertainty among New York’s business leaders about whether his administration can survive in the wake of his indictment.

and relief — plus some private complaints that her elevation was the kind of personnel move Adams should have made when his term began nearly three years ago.

See New York City’s top employers this year and what perks they offer their staffs. Page 15

Torres-Springer, a deputy mayor for housing, economic development and workforce who is now replacing Sheena Wright as rst deputy mayor, enjoys deep ties in the business, real estate and nonpro t communities built through two decades in and around city government. Amid growing City Hall turnover, business leaders greeted her appointment with excitement

The new rst deputy mayor enjoys strong relationships with business leaders, who are losing con dence in Eric Adams.

Torres-Springer has told people in recent days that Gov. Kathy Hochul had signaled approval for her promotion, one person familiar with those conversations told Crain’s — an indication of the signi cant sway the governor is now exerting over Adams’ City Hall. Wright and four other senior o cials have resigned after their phones were seized by federal investigators last month, part of a shakeup that has generally resulted in the departures of longtime Adams loyalists who were never

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Maria Torres-Springer was named rst deputy mayor by Eric Adams. | ED REED/ MAYORAL PHOTOGRAPHY OFFICE

NOV. 12

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Now-defunct SoHo real estate rm of oads last three Manhattan properties for $50.5M

Julianne Cuba

A now-defunct SoHo-based real estate company has o oaded a trio of mixed-use properties for $50.5 million, according to the broker involved in the transactions.

Page Management, which is no longer in operation, sold the three West Village and Chelsea buildings to low-pro le real estate rm the Sani Group. e properties, which comprise 100 residential apartments and a few retail units across 68,484 square feet, were the last remaining in Page’s portfolio.

A trio of properties

e addresses are 300 W. 12th St., which contains 53 units and sold for $26.5 million; 240 W. 15th St., which contains 35 units, including one retail, and sold for $17 million; and 5 Jones St., which contains 12 units, including two retail, and sold for $7 million, according to information from Canada-headquartered company Avison Young.

e global rm represented both the buyer and the seller in the three deals totaling more than $50 million. Brokers from Avison

Young’s tristate investment sales team, led by James Nelson, Brandon Polako , David Shalom, Ryan McGuirl, Alexandra Marolda and Ed Nelson — all of whom are based in the rm’s Manhattan ofce — were involved in the transaction, which closed last month, Nathan Reyna, a spokesman for Avison Young, told Crain’s

Little is known about the buyer, and attempts to reach the rm and its main contact, Abraham Sanieo , were unsuccessful. Reyna declined to comment on the buyer but said the properties will remain as is with no signicant redevelopment. He added, however, that there is an opportunity for some “cosmetic changes.”

Avison Young represented both the buyer and the seller in the three deals totaling more than $50 million.

THE BOOK 2025

300 W. 12th St. | GOOGLE STREET VIEW

Charter school with basketball-focused curriculum starts building $35 million home in South Bronx

The latest project in the faded Hub shopping district is shooting for a 2026 opening

year deal for $49 per square foot annually to start, according to a project spokesman.

classrooms, an 8,000-square-foot gym and a broadcast studio.

A new school is rising in the Hub, a faded South Bronx shopping district slowly working to restore its luster.

e Earl Monroe New Renaissance Basketball School, a three-year-old charter high school with an unusual basketball-oriented curriculum, broke ground last month at 647 Elton Ave., at ird Avenue. e $35 million project, which is a joint venture between school developer Pillar Property Management and longtime site owner David Damaghi, is set to deliver a 5-story, 69,000-square-foot building in 2026.

Named for former Knick and hall-of-famer Earl “ e Pearl” Monroe, the school, which has been designed to serve more than 400 students, is currently based in temporary 31,000-square-foot digs in a former Catholic school near Pelham Bay Park.

Under the terms of the deal, the school will lease space from the developers in a 31-

Construction is being funded by a $21 million loan from the California-headquartered Bank of Hope.

ree lots make up the development site, which also has frontage on East 153rd Street and used to contain a mattress store, a furniture shop, a cell phone vendor and other small retailers. An entity tied to Damaghi, Pride Capital Group, has controlled two of the lots since 2000, according to the city register. Pride Capital purchased the third property in 2017, the register shows.

The new Earl Monroe school will weave hoops into a typical math-, science- and foreign language-focused curriculum.

ough its name may suggest a mission primarily focused on athletics, Earl Monroe weaves hoops into a typical math-, scienceand foreign language-focused curriculum; the arc of a shot might be used to help explain a geometry concept, for example, according to news reports.

But the school, founded by Brooklyn lmmaker Dan Klores, also aims to steer students toward industries that may touch on basketball, including entertainment law, broadcast journalism and sports medicine.

cades before World War II; it experienced a decline in the second half of the 20th century. Discount retailers, as well as several “for sale” and “for rent” signs, dot the district today.

But a few large mixed-used projects have touched down in recent years, including La Central, a complex in two sections on Bergen Avenue with nearly 500 a ordable units and a YMCA from e Hudson Cos. Another block-altering development has been 425 Westchester Ave., a 10-story, 150,000-square foot, blue-toned site from an arm of Starwood Capital Group and the Queens developer AB Capstone. It’s mostly occupied by its own charter school, a prekindergarten to eighth-grade o ering from the Zeta group.

With a design by Manhattan-based ESKW/Architects and Brooklyn’s IMC Architecture, the brick building will feature 24

Centered on ird Avenue but named for its merger of several major roads, the Hub bustled with department stores in the de-

Also, in 2018 ACHS Management, a rm owned by the politically in uential Adjmi family, developed 2952 ird Ave., a 116,000-square-foot big-box site that today contains Marshalls, Burlington and Five Below locations.

Basketball player Earl “The Pearl” Monroe (15) of the New York Knicks in 1971 and (inset) a rendering of The Earl Monroe New Renaissance Basketball School at 647 Elton Ave. GETTY IMAGES, ESKW/ARCHITECTS

C. J. Hughes

Ireland’s top UN diplomat buys four-bedroom penthouse on First Avenue for about $9M

Developer Soloviev Group originally sought about $11 million for the 1 United Nations Park duplex

C. J. Hughes

Ireland’s ambassador to the United Nations has a new home.

Fergal Mythen has purchased a four-bedroom penthouse at the condo tower at 695 First Ave. for $8.5 million, according to a deed posted to the city register Oct. 4 that lists the buyer as the government of Ireland, though Mythen signed the paperwork.

ceilings and East River views, according to a diagram in the condo’s o ering plan. Corcoran Sunshine, the brokerage marketing the building, does not appear to have listed the unit publicly.

$8.5M

Sale price for top oor at 685 First Ave.

e deal, which went into contract Aug. 29, closed Sept. 30, suggesting that Mythen squeezed in the transaction while in town for the U.N.’s annual meeting. e global diplomacy group’s session this year, its 79th, kicked o Sept. 10. And the bustling “general debate” period, which most representatives from the U.N.’s 193 member countries typically attend, ran from Sept. 24 to Sept. 30.

East River views

Perched on the top oor of the 43-story black-glass tower between East 39th and East 40th streets, Mythen’s duplex unit features a private elevator, four and a half baths, and an 819-square-foot great room with double-height

e seller was the condo’s sponsor, the developer Soloviev Group, which began marketing the tower’s 148 units in 2018. ough initially anticipating a sellout of $551 million, the rm now expects a revised haul of $451 million, according to a 2022 plan amendment.

Indeed, Soloviev originally sought to sell Mythen’s penthouse for $10.8 million, and so ended up unloading it for 20% less, based on the plan.

One of the developer’s marketing strategies may have paid o . About a year after sales began, Soloviev, whose chairman is Stefan Soloviev, a son of the late developer Sheldon Solow, decided to slap the name 1 United Nations Park on the project, presumably to play up the site’s location two blocks to the south of the U.N.

In 2021, closings began in the condo section of the tower, which

Mythen, a longtime high-ranking o cial who worked to help implement the 1998 Good Friday agreement ending decades of conict in Northern Ireland, according to an online biography, became Ireland’s U.N. ambassador in summer 2022.

also includes a 408-unit rental portion that goes by the building’s street address, 685 First Ave. But several sponsor units still appear unsold.

JPMorgan’s new tower spells trouble for Park Avenue neighbor

yB Aaron Elstein

JPMorgan will make a big splash next year when it opens its new 60-story headquarters at 270 Park Ave., and David Werner could get wet.

Werner leads an investor group that owns 40% of 237 Park Ave., a building across the street from the soaring new skyscraper and where JPMorgan is a major tenant, at least for now. e bank’s lease for 270,000 square feet expires next year and won’t be renewed because the new tower will be ready, credit-rating rm KBRA said in a report Oct. 4. A second big 237 Park tenant, investment rm Jennison Associates, is expected to move out of 160,000 square feet next year, too.

Even though Park Avenue is the nation’s hottest o ce market, lling the space at 237 Park could be complicated because JPMorgan’s new 2.5 million-square-foot tower would increase inventory along the street 12% by itself, according to Cushman & Wake eld data. Replacing JPMorgan and Jennison

will cost 237 Park’s owners up to $150 million in free rent and lost income, KBRA predicted. e independent ratings rm valued the 21-story, 1.25 million-square-foot tower at $510 million, a 59% drop since 2019, the year that Werner and his group bought their stake at a $1.25 billion valuation.

Still have time

e good news is Werner and his partners have time, because 237 Park’s $780 million in mortgage and mezzanine debt aren’t due until 2027. A spokesman for one of the building’s owners, RXR Realty, said JPMorgan recently extended its lease to 2026. e bank wouldn’t con rm that.

“We are always reviewing our long-term real estate options in Manhattan and it is too early to comment on our plans for 237 Park,” a bank spokesman said.

JPMorgan leased nearly 7 million square feet across the city as of last year and has been New York’s largest commercial tenant

since Chase, Chemical Bank and Manufacturers Hanover merged together in the 1990s. e $4 trillion-in-assets institution will consolidate 10,000 of its 17,500 Manhattan workers into the new tower after it’s nished next year, the bank spokesman said. at could reverberate across Manhattan and especially on Park Avenue, where the vacancy rate of 13.4% is about half that of the rest of Midtown, Cushman & Wake eld says.

Five years ago, the market looked very di erent when Werner and his group acquired their 40% piece of 237 Park from RXR and Chicago-based Walton Street Capital. ey had bought the building from Lehman Brothers in 2013 for $810 million, and Lehman paid $1.2 billion for it in 2007. Walton had no immediate comment.

Werner is majority owner of 5 Times Square, a building that formerly housed Ernst & Young and may be converted to apartments. He also owns the dirt underneath Carnegie House, a 324-unit co-op at 100 W. 57th St.

For years some U.N. delegates and other foreign dignitaries have underpinned residential sales activity on Manhattan’s East Side, including buyers who snap up spacious apartments for meeting

and entertainment spaces. For about two decades, for instance, Great Britain’s consulate general held forth in a 5,800-square-foot penthouse on East 51st Street near First Avenue, though the British government unloaded the aerie in 2023 for $5.2 million by way of an auction.

Corcoran brokers had no comment by press time. And a phone message left for Mythen at Ireland’s U.N. o ce on Second Avenue went unreturned.

237 Park Ave. | BUCK ENNIS

He and a partner bought the building’s ground lease in 2014 for $315 million. ey’re seeking to raise the rent to $25 million a year from $4 million, according to a lawsuit led by the co-op. Residents say such an increase would bankrupt the co-op. Werner’s partner, Rubin Schron, told Crain’s

residents are “living practically rent-free on Billionaires Row.”

A hearing over Carnegie House’s ground rent is scheduled in Judge Arthur Engoron’s courtroom on Nov. 13.

Werner couldn’t be reached at his o ce. A colleague didn’t return a call.

Local hospitals see a bump in bottom lines as in ation cools

yB Amanda D’Ambrosio

Local hospitals are getting some respite from the swelling costs of labor, drugs and medical supplies that have persisted in the last year.

Tri-state area hospitals scored a median operating margin of 3.5% through August of this year, staying well above water, according to hospital nance data released Oct. 3 by the Chicago-based consulting rm Kaufman Hall.

Margins among local hospitals are far more stable now than a year ago. e median margin through the rst eight months of 2024 has increased by 35% compared to the same time last year, the data shows. e stability stems from a decline in expense growth, bucking a trend of skyrocketing costs that has endured since the Covid-19 pandemic. e costs of labor, drugs and medical supplies have come down in recent months as in ation slows.

But even as expenses die down, labor, supply and drug expenses are still higher in the tri-state region than in other parts of the country, said Erik Swanson, senior vice president of data and analytics at Kaufman Hall. at has allowed local hospitals’ recovery to fall behind their peers in other parts of the U.S. — the median operating margin nationally was 4.2% as of August, he said.

“ ey still underperform the nation as a whole, from a bottom line perspective,” Swanson said. e analysis, which is based on

data from more than 60 hospitals in New York, New Jersey and Connecticut, still shows that slowing expense growth could help local hospitals catch up. Expenses for medical supplies and drugs have each dropped by over 9% between August 2023 and August 2024, likely a result from cooling in ation, Swanson said.

Slight decline

Even labor costs — which have historically been much higher in the tri-state region and New York City — have started to decline slightly. Sta -related expenses declined by 1.7% year-over-year, according to the data.

But Swanson said that the cost declines represent more of a return to back to pre-pandemic levels rather than a true absolute decrease. Labor costs among tri-state hospitals are still 6% higher than they were in 2021.   e reprieve from escalating expenses has kept hospitals a oat, even as both inpatient and outpatient revenues declined in August. Tri-state hospitals saw their inpa-

tient revenues decline by 6% and outpatient revenues drop by under 1% year-overyear, despite a rise in discharges.

eir pro ts also bene ted from a 1.4% decrease in patients’ average length of stay, indicating that hospitals saw fewer patients who were severely ill. Shorter average length of stay is typically correlated with lower patient-related expenses, as hospitals spend fewer dollars on keeping patients in a bed or more e ciently transfer them to less expensive health care facilities, Swanson said.

Still, average length of stay dropped 3% nationally, representing a larger decrease compared to the tri-state region. Swanson said that local patients have more options when it comes to care outside of hospitals, so that hospitals end up with truly the sickest — and most expensive — patients. e data from Kaufman Hall presents a broad overview of hospital nances in the tri-state region, and often does not illustrate the wide range in nancial performance between high-earning health systems and safety-net hospitals. City health systems including NYU and New York-Presbyterian, for example, often score margins reaching between 7% and 9%, while safety-net institutions including Maimonides and Monte ore operate in the red because they earn lower revenues from a high number of Medicaid patients.

Brooklyn Heights rm offering app for medical guidance raises $15M

Ethan Geringer-Sameth

Startups distinguishing clinical information from the rabble are nding heightened interest from investors as demand for online diagnoses — of questionable accuracy — grows. Brooklyn Heightsbased Roon, whose app pro ers medical guidance for people with complex diagnoses, raised $15 million in early stage capital this month from leading venture rm Sequoia Capital, according to the research rm PitchBook. e company previously raised $7.5 million in seed funding led by FirstMark Capital, TVM and Sequoia. e startup, which posts videos from medical experts with information on a host of conditions, intends to make it easier to navigate daunting diagnoses between doctors’ visits. e videos are recorded by doctors practicing across the country in elds ranging from fertility and family planning to ALS and dementia.

Roon is the latest company to take advantage of the growing demand for medical opinions outside the labyrinth of brick-andmortar health care. e startup

o ers what its leaders, in a blog post, describe as clinically sound information in an ecosystem increasingly dominated by arti cial intelligence aggregating depersonalized medical advice for the digital masses.

Digital health

While digital health has enjoyed a boon amid an overall sluggish fundraising environment, the interest from Sequoia — one of the biggest names in Silicon Valley startups and an early investor in household companies like Google, Apple, Nvidia and Airbnb — separates Roon from the pack. Sequoia has also backed other New York-based health care compa-

nies, including women’s health unicorn Maven and the drug discovery rm Formation Bio. e latter brought in $372 million in a Series D that closed in June, led by another VC giant Andreessen Horowitz with Sequoia participating, according to PitchBook. e company packs some heavy-hitters as well. CEO Vikram Bhaskaran is a former executive at Pinterest, as was co-founder and chief technology o cer Arun Ranganathan. Roon’s co-founder and chief medical o cer, Dr. Rohan Ramakrishna, is a professor of neurosurgery at Weill Cornell Medicine and New York Presbyterian hospitals.

Roon is not leaving the fast, impersonal AI frontier untapped either. Earlier this year, the company launched a new product, Roon Instant Answer, which allows users to ask a question and receive a written response based on information contained in Roon’s library of thousands of clinician videos. And last year, the company added a feature to the app that uses articial intelligence to summarize the videos in text, according to an announcement at the time.

AUTOMATION

ROB GROTE, CPA Partner and Manufacturing & Distribution Practice Leader 516-336-2468

rgrote@grassiadvisors.com

Rob has more than 30 years of experience in public accounting, tax planning and management consulting services across a variety of subsectors in the M&D industry.

How can food & beverage manufacturers and distributors drive pro ts through technology & automation?

In this economic environment, with rising costs and risks, e ective pro tability strategies separate companies that thrive from those that fall behind.

In the manufacturing and distribution industry, many companies are identifying and embracing these strategies to nd success and opportunities for growth. In Grassi’s 2024 survey of food and beverage manufacturers and distributors in the NYC metropolitan area, 60 percent of companies surveyed reported increased pro ts last year.

e companies that reported this pro t growth were much more likely to focus on improving operations, such as increasing employee productivity and streamlining processes. One of the most common ways companies do this is by investing in technology and automation.

Respondents cited these tools as highly e ective solutions to the industry’s biggest challenges, including supply chain disruptions, rising costs, a tight labor market and in ation. e survey found which strategies are already widely embraced and which are on the rise in 2024.

A majority of respondents also said they are utilizing automation tools through supply chain management so ware to assist with tracking and managing inventory. As one of the most important metrics for a manufacturing business, inventory management is crucial to pro tability. Inaccuracies can lead to stockouts, backlog of sales orders, longer lead times, customer dissatisfaction and other issues that can place many business goals at risk.

Technology is also being used to increase the quality of data in other areas. Distributors are improving their data analytics to drive pro ts as well. About a third of high-growth distribution companies plan to increase the use of analytics to optimize production, distribution, or customer service this year.

Technology and automation are also being used to combat rising labor costs and shrinking talent pools and to keep operations running as e ciently as possible. ERP systems, programmable logic controllers, automated batching systems, online point-of-service (POS) programs, electronic engineers, and robotic process automation (RPA) were cited as the most utilized catalysts for employee productivity.

Other high-growth technology drivers are arti cial intelligence (AI), predictive supply chain management, and cloud computing. Less common but emerging trends include RFID technology for product tracking and GPS to track workers, vehicles and tools. Respondents also see strong growth potential in the increased adoption of digital sensors, remote machine controls, wireless plant networking, and cybersecurity.

Despite the industry trends toward technology adoption, a third of respondents cited automation and technology as challenges. Manufacturers also face challenges of outdated systems or a lack of systems and processes. is signals the dire importance of selecting and implementing the right technology e ectively.

While re ective of trends in the food and beverage sector speci cally, these strategies can be used by any manufacturer struggling to combat today’s industry challenges. Combined with the other operational and nancial strategies uncovered in the survey, technology and automation will continue to propel the rising revenues and pro ts that most respondents experienced last year.

Can the mayor govern much longer?

His ability to lead will suffer after his indictment, but he has surrounded himself with allies and vows to stay in of ce

The question on everyone’s mind now is how long Mayor Eric Adams can hold on.

Prosecutors hinted he could be indicted again as corruption investigations reportedly continue into his administration.

First Deputy Mayor Sheena Wright resigned Oct. 8, Deputy Mayor Phil Banks stepped down Oct. 6, and David Banks, Adams’ schools chancellor, will be gone much sooner than expected. Adams denies all wrongdoing, but it’s dizzying to think of the number of o cials in his government or those who have recently departed who no longer have phones, thanks to FBI seizures. It all seems very untenable.

for Adams is that locals were already turning on him well before the federal investigations became public and he was indicted on corruption charges; a Quinnipiac poll from last year showed a similarly dismal approval rating.

Living in limbo

On Oct. 4, Marist released a poll that showed a stunning 69% of New Yorkers want Adams to resign. at number actually jumps to 71% when it’s just Democrats surveyed. If Adams doesn’t resign, 63% of residents said Gov. Kathy Hochul should begin the process of forcibly removing him.

Adams’ overall approval rating is the worst of any New York mayor in modern times. Just 26% of residents approve of the way he is handling his job, with 74% saying they disapprove. e hard truth

All of this should lead to a quick and tidy resignation — but it may not. Adams has vowed to stay in o ce and has surrounded himself with allies in the faith community. As the city’s second Black mayor, he has talked up the racial dynamics of his ascension and Hochul, a white politician from Bu alo, seems wary of the optics of removing him. She might threaten Adams if another indictment comes or if a leader in the Black community like the Rev. Al Sharpton signs o on pushing Adams out.

In the meantime, New Yorkers live in limbo. Adams says he can govern, but he wasn’t very good at it in the best of circumstances. Bureaucracies can function to a degree. What will probably su er, as time goes on, is the ability to make bigger and more important decisions as commissioners and deputy mayors leave the administration

and federal prosecutors swarm. e crisis in governing could really come to a head if there’s an unforeseen public health catastrophe, weather event, or terrorist attack where strong leadership is demanded — and Adams, plainly, cannot provide it.

All of this will weigh on Hochul’s mind as she considers her own political future. In 2026, she will run for another term and she is not very popular. She needs the support of the working class Black community in the outer boroughs, the sort of voters who may stick with Adams. She also might decide, eventually, that too much of the city is tired of him and she cannot allow him to stay in ofce, especially as poll numbers show even the working class is deserting him.

Hochul, simply, could decide she won’t bene t anymore by having Adams, a putative but allegedly corrupt ally, around.

Don’t underestimate Adams’ ability, though, to battle onward.

He’s got Trumpian instincts for combat and a strong belief in his own myth. He has a martyr complex. If there’s one politician who believes he can win at trial against the federal government (very few do), it’s Eric L. Adams of Brooklyn. He will survive as long as he can.

Hochul doesn’t seem, yet, to have the stomach to confront a

politician like that. And Adams isn’t deterred by all the candidates running against him. If he reaches the Democratic primary next year, he’ll surely lose, but he doesn’t believe that.

He thinks, against all available evidence, he’s a man of destiny. He’s not walking away quietly. Ross Barkan is a journalist and author in New York City.

Former Adams aide charged with obstructing federal probe

yB Nick Garber

A just-departed aide to Mayor Eric Adams was charged Oct. 8 with trying to block a federal investigation into alleged straw donations he had helped solicit for Adams’ 2021 campaign. A businessman who took part in the scheme is now cooperating in the investigation, which is linked to the mayor’s own indictment, prosecutors said.

Mohamed Bahi, a former senior liaison to the Muslim community,

“As

Brooklyn construction company. To unlock more public matching funds for Adams’ campaign, he suggested that four employees donate the maximum $2,000 and then be reimbursed by the company’s CEO — amounting to illegal straw donations, the indictment alleges. Straw donations are campaign contributions made in the name of one person but funded by another.

alleged, Mohamed Bahi obstructed a federal criminal investigation by instructing witnesses to lie and then destroying

evidence.”

Damian Williams, U.S. Attorney

was arrested and charged with witness tampering and destruction of records, making him the second city o cial to be charged with crimes in recent weeks following the mayor himself. City Hall had announced Bahi’s resignation on Oct. 7 without explanation.

According to the indictment by the Southern District of New York, Bahi helped organize a December 2020 fundraiser at the o ce of a

Bahi’s arrest stems from the same investigation that led to the mayor’s indictment. Reports and campaign nance records identify the CEO, who is not named in the indictment, as Tolib Mansurov: an Uzbek community leader and founder of the rm United Elite Group. Mansurov and four of his employees donated $2,000 to Adams in December 2020, matching the timing and dollar gures in the indictment. e four employees then had their donations reimbursed or paid for in advance by the company, prosecutors said.

In the Adams indictment, prosecutors said Mansurov arranged the contributions because Adams’ aides told him that straw donations would increase his in uence and the standing of his communi-

ty. Adams’ indictment stated that Mansurov later received favors from Adams after his election as mayor, including help resolving a permitting problem with the Department of Buildings.

Encouraged to lie

When federal agents began executing search warrants on Mansurov and his employees in June of this year, Bahi met with them hours later and encouraged them “to lie to federal investigators by denying that they had made straw donations,” the indictment states. Bahi also deleted the encrypted messaging app Signal from his cell phone shortly after FBI agents arrived at his home to execute a search warrant, prosecutors allege.

Bahi had used the app to communicate directly with Mayor Adams, including during a February 2024 trip that Bahi took to Egypt and Yemen, prosecutors said. Adams is not charged in Bahi’s indictment. But prosecutors did say that Bahi told Mansurov that he had “just spoken” to Adams the same day that they were served with search warrants in June.

In a meeting the following day, Bahi told Mansurov that he had met with the mayor and that Adams “believed that [Mansurov]

would not cooperate with law enforcement,” the indictment states.

Bahi could not immediately be reached for comment.

Mayor Adams, asked about Bahi’s arrest Oct. 8, said, “I would never instruct anyone to do anything illegal or improper.”

“I always found him to be thoughtful,” Adams said of Bahi. “I know he delivered for New Yorkers and I thank him for it.”

e indictment does not identify Mansurov or his employees by name. But all ve people are now

cooperating with law enforcement “in the hopes of receiving leniency,” prosecutors wrote.

“As alleged, Mohamed Bahi obstructed a federal criminal investigation by instructing witnesses to lie and then destroying evidence,”

U.S. Attorney Damian Williams said in a statement. “ e charges unsealed today should leave no doubt about the seriousness of any e ort to interfere with a federal investigation, particularly when undertaken by a government employee.”

Ross Barkan

Mayor Eric Adams spoke at a town hall for older adults days after his indictment, an example of his refusal to leave of ce despite a hampered ability to govern, writes columnist Ross Barkan. | ED REED/MAYORAL

PHOTOGRAPHY OFFICE

Mohamed Bahi, a just-departed aide to Mayor Eric Adams, is accused of organizing straw donations at a 2020 campaign fundraiser and then trying to interfere with a federal probe.

Asian American Business Development Center honors 52 executives in New York

Top award goes to tech trailblazers

e Asian American Business Development Center recently honored John T.C. Lee and Karthik Narain, along with 50 Asian American executives at its 2024 Outstanding 50 Asian Americans in Business dinner gala. John is President and CEO of MKS Instruments, Inc. and a thought leader in the semiconductors, photonics and chemistries industries. Karthik serves as Accenture’s Group Chief Executive of Technology and Chief Technology O cer. As an experienced technologist, Karthik was a leader in generative AI for Accenture.

Since its establishment 30 years ago, AABDC has recognized more than 1,200 Asian American corporate executives and entrepreneurs, representing scores of industries nationwide. is year, John and Karthik received AABDC’s highest honor, the Pinnacle Award. Visit aabdc.com to learn more.

2024 Outstanding 50 Asian Americans in Business Dinner Gala

2024 Outstanding 50 Award Recipients

John T.C. Lee was honored with the Pinnacle Award

The personalized bottles sponsored by Diageo for the Outstanding 50 Award recipients Karthik Narain was honored with the Pinnacle Award

Swagger, bravado finally take a back seat to competence, hard work at City Hall

At last, competency trumped loyalty. Mayor Eric Adams last week elevated Maria Torres-Springer — a deeply experienced public servant with allies in the business, real estate and nonpro t communities — to the number-two job at City Hall. e move elicited a collective sigh of relief that some measure of city business may yet carry on amid the drama kicked up by our embattled and indicted mayor.

Of course, getting the mayor to tap a professional rather than a crony for a top role should not have required four federal investigations, a host of FBI raids, a guessing game of who’s going to resign next and perhaps even some behind-the-scenes pressure from Gov. Kathy Hochul, who has so far opted not to use her authority to force him out of o ce.

e Torres-Springer appointment drew immediate praise across the city, including from business groups like the Association for a Better New York and the Partnership for New York City. Torres-Springer’s duties will include overseeing the city budget, supervising the other deputy may-

ors and maintaining her current portfolio of housing and economic development. She has played a key role pushing the City of Yes zoning reforms and major land-use projects in Willets Point and Governors Island.

e moves boosted hopes that business initiatives won’t fall through the cracks as Adams navigates the year that remains of his rst term while battling criminal charges that he solicited bribes and illegal

campaign contributions in exchange for political favors. His support has long been slumping in the business community that helped get him elected mayor in 2021, as leaders looked on with concern as the former police captain imported into City Hall an NYPD culture that values loyalty above all. With the resignation last week of former rst deputy mayor Sheena Wright, all ve senior o cials who had their homes searched and phones seized by federal agents in September have now stepped down or made plans to leave. e others are Wright’s husband, Schools Chancellor David Banks, who is leaving later this month; her brother-in-law, Deputy Mayor for Public Safety Phil Banks; the mayor’s

senior advisor Tim Pearson, and Police Commissioner Edward Caban.

Unlike Adams, none of the ve senior o cials leaving the administration has been charged with or accused of a crime.

Likely one-term mayor

It’s increasingly likely Adams will be a one-term mayor — if he makes it that far. Almost 70% of New Yorkers want him to step down, according to a poll taken after he became the rst mayor to be indicted on corruption charges. A growing list of challengers in next year's primary is likely to include former Gov. Andrew Cuomo and may also include Attorney General Letitia James.

In the meantime, it won’t hurt for the city to place more authority in the hands of technocratic public servants like Torres-Springer — and others who may also see their portfolios grow, including fellow deputy mayors Meera Joshi and Anne Williams-Isom — demoting the mayor’s trademark swagger and bravado in favor of expertise and hard work.

Removing arbitrary parking mandates is a plausible trade-off to increase affordable housing development

In a city of 8 million people, parking can seem to come at a premium. Housing shouldn’t have to be the same. While nding parking in my neighborhood of East Flatbush is frustrating, I think about the New Yorkers struggling to nd shelter. On one night, more than 4,000 New Yorkers can be experiencing homelessness — the highest in the past decade. With the city’s rental vacancy rate at just 1.4% — the lowest in 56 years — it’s become nearly impossible to nd a home, much less an a ordable one.

quirements, allowing developers to include parking where it’s necessary and exclude it where it isn’t.

To address this crisis and increase our housing supply, New York City has come up with a plan. e City of Yes for Housing Opportunity would update our outdated zoning code and allow us to create more housing in every neighborhood while preserving each neighborhood’s character. A key component of City of Yes is removing parking mandates for new housing, which force developers to include a minimum amount of parking in every project, even when it goes unused. is comes at the expense of building homes.

To be clear, City of Yes doesn’t get rid of parking. It simply eliminates arbitrary re-

As an a ordable housing developer, each dollar saved on constructing parking could go towards building more housing for the lowest-income New Yorkers. On top of that, we’d incentivize New Yorkers living in transit hubs to take advantage of the largest public transportation system in the nation. And developers will still include parking when neighborhoods need it. Our team at Monadnock frequently considers when to add more parking than is legally required based on many factors, including transit access and resident feedback. While we weren’t required to have parking at the Nehemiah Spring Creek Senior Residences in Brooklyn, we chose to include 10 spaces at no additional cost to residents because the local Community Board communicated the need.

is isn’t the rst time New York City has sought to change parking requirements to spur housing creation. In 2016, the City Council passed the Zoning for Quality and A ordability text amendment, signi cantly relaxing parking require-

ments for a ordable housing developments within designated transit zones — areas within half a mile of a subway station and with low car ownership rates. anks to ZQA, we eliminated a garage and stuck to surface parking for our 491 Gerard Avenue and 530 Exterior Street residences in the Bronx, putting the money saved towards building more a ordable housing.

Today, we’re in a more strained and una ordable housing market than we were in 2016, when ZQA was enacted.  irty-six percent of households leaving New York State are searching for more a ordable housing — over twice the share before the pandemic — and 90% of New York’s population loss is in New York City, the most expensive part of the state.

It’s time to use all of the tools in our toolbox to tackle the historic housing and affordability crises. And yes, that means ensuring we don’t saddle every housing development with costly parking spots that go unused when those funds could be

put towards creating more housing for New Yorkers in need.

Let’s not let unfounded fears about one aspect of a comprehensive proposal prevent us from making substantial progress on housing creation at a time when it’s desperately needed. We didn’t let that stop us eight years ago, and thousands of New Yorkers’ lives are better because of it. It shouldn’t be this hard for New Yorkers to nd an a ordable home. And if the City Council passes the City of Yes for Housing Opportunity, it won’t be.

Kirk Goodrich is the president of Monadnock Development.

It’s time to use all of the tools in our toolbox to tackle the historic housing and affordability crises, writes Kirk Goodrich, president of Monadnock Development. | BUCK ENNIS

PERSONAL VIEW

Schools Chancellor David Banks opened doors to city’s employers

During almost three years as the leader of the city’s public school system, Chancellor David Banks has made his mark, setting high standards for student and teacher performance, establishing programs to compensate for learning losses su ered during the pandemic and absorbing some 40,000 children of incoming asylum seekers into the schools.

From my perspective, however, the chancellor’s most important contribution has been to ensure that the education of every student, from grade school through high school, includes awareness of their future career possibilities. Under his leadership, the department forged sustainable partnerships with employers to prepare young New Yorkers for the full range of jobs available in the city and beyond. No prior chancellor has been as determined or as e ective in advancing the career prospects of our city's youth.

school students spend a full day of immersion at one of the city’s great companies. For many, this is their rst time inside a corporate o ce setting and their rst interaction with young professionals whose backgrounds they can relate to. e experience is often transformative.

ere are many examples of how Chancellor Banks engaged the city’s businesses and major nonpro t institutions in support of his ambitious goals. One that my organization co-sponsors is Career Discovery Week, where thousands of high

PERSONAL VIEW

Another example is the chancellor’s investment in the growth and replication of the STEAM (science, technology, engineering, arts and math) Centers in the Brooklyn Navy Yard and the Bronx. In Brooklyn, high school students spend half of the school day learning about key industries, such as cybersecurity and engineering. ey gain work experience, secure an industry-based certi cation, and create a professional network they can carry into their future careers. e Bronx center o ers a similar program in partnership with Monte ore hospital to prepare students for professional jobs in health care. e chancellor’s enthusiasm for workbased learning has been contagious. City Council Member Nantasha Williams is tirelessly advocating to bring a new STEAM Center to Queens, as part of the redevelopment of JFK airport. Her vision

is to focus on preparing the largely Black and brown students from the communities surrounding the airport for careers in the aviation industry. e center would seek to achieve the same economic impact as the Brooklyn model, where $1 million has been put into the pockets of students through paid internships and workplace challenges since the school’s inception in 2017.

As a prominent and highly respected educator, Chancellor Banks has been uniquely able to convince parents of color that “vocational” education is not inferior to a college track, but essential for every student’s development, including those who intend to pursue higher education and advanced degrees. In fact, he has incorporated joint programs with the City University of New York into his career readiness strategy.

Signi cantly, for the rst time in my experience, the school system has become a more welcoming environment for employers. Ten years ago, the Partnership for New York City commissioned a pro bono study by PwC to identify the challenges that discourage employers from providing paid internships and other assistance to

Housing shortage stands in the way of growth in New York City’s tech sector

We all know that New York City rents are at crisis level, making nearly every neighborhood impossible to a ord. But they’re also threatening the continued growth of the city’s tech sector, and the vital role it plays in our economy.

New York’s tech sector is booming, with its 370,000-plus tech workers comprising a larger workforce than Wall Street. New York City is the global capital ofnance, media and fashion, and a strong tech sector helps these industries continue to thrive.

According to a recent report from StreetEasy and Tech:NYC, in 2023 New Yorkers earning the city’s average annual wage could a ord less than 5% of rentals on the market. Essential workers earning wages below $70,000 could a ord less than 1% of rentals.

of their reach.

the city’s more than 1,500 public schools. We discovered that the big obstacle was the Department of Education’s bureaucracy and the time it took to get anything accomplished.

e chancellor has dramatically changed that culture. He has worked closely with the employer-driven New York Jobs CEO Council, led by JPMorgan Chase Chairman and CEO Jamie Dimon, to engage many of the city’s largest employers in support of expanded internships, apprenticeships, teacher training and curriculum development. e industry relationships that the chancellor has championed promise to help students to achieve postsecondary success.  e growing pipeline of well-prepared, home-grown talent that is essential to New York City’s future will be a signi cant legacy of Chancellor Banks and of Mayor Eric Adams.

As of February 2024, New York City's rental vacancy rate was 1.4%, its lowest level since 1968. is translates into the availability of just 33,210 units for rent out of more than 2.3 million rental units citywide. is profound scarcity hurts lower-income renters the most, because as well-paid employees get pushed into what was previously lower-cost housing, New Yorkers with fewer resources will get pushed out.

Julie Samuels is president and CEO of Tech:NYC, a network of technology leaders working to foster a dynamic relationship with city government. Erik Bottcher is a City Council member representing District 3 in Manhattan.

What’s striking is that even New York City’s more highly paid tech workers can’t a ord most apartments. e average tech worker salary in New York is $135,000 — which puts 65% of all city apartments out

Although tech companies can locate anywhere in the world, they have increasingly been moving to and expanding in New York because of the proximity to industries likenance, healthcare, media, and more; and quite simply because this is where top talent wants to live. We want New York to remain the most attractive place for tech workers and rms, but the housing shortage needs to be addressed.

e good news is that we’re beginning to see some rst steps to address the housing a ordability crisis and increase

the supply of housing. Gov. Kathy Hochul and the state Legislature recently enacted new tax incentives and zoning reforms to spur housing development, including — hopefully — tens of thousands of units of a ordable housing.

The New York City Council will soon be considering the “City of Yes for Housing Opportunity” proposal, which contains a variety of policy components that we should all support. In the report by StreetEasy and Tech:NYC, some of these proposals are outlined; policies that would help New York City accommodate sustainable population growth and make it cheaper and easier to rent an apartment.

Perhaps the single most impactful policy change outlined in the report would be to enact zoning reforms to allow modest increases in housing near public transit, which could give us the opportunity to create more than 1.1 million new homes. ere are many locations around the city where the construction of multifamily apartment buildings is banned, even if they’re right next to a subway station. Working families need and deserve the opportunity to live near public transit. City of Yes would promote "transit-oriented development" by lifting the restrictions on small three- to ve-story apartment buildings in lower-density zones,

permitting such construction where they are most suitable on large lots along wide streets or corners within half a mile of a subway or rail station.

It’s very expensive to build homes in New York City, and those costs are being passed on to renters in the form of higher rents. is is partly due to the antiquated requirement that new apartment buildings include car parking. On average,  each underground parking space costs $150,000 to build. In a city where a majority of New Yorkers don’t drive a car, removing o -street parking requirements is an easy step to reduce the cost of building new apartments and decrease rents. is is being done in cities across America, even in places with far higher car ownership rates.

ese are just a few of the many solutions that are needed. One thing should be clear to everyone: Inaction is not an option. Building more housing and reducing rents is essential so that both lifelong New Yorkers and new arrivals can a ord to live here. New York City is still the best place to live and work on the entire planet. It’s our responsibility to ensure that this remains true for future generations. Let’s not shirk our duty by failing to address the housing a ordability crisis.

BUCK

Kathryn Wylde is the president and CEO of the Partnership for New York City.

Mayor Eric Adams, right, gives introductory remarks at Chancellor David Banks’ State of Our Schools address at Boys and Girls High School in Brooklyn in September 2023. | NYCMAYORSOFFICE/FLICKR

MEET THE 2024 ANTHEM WHOLE HEALTH HEROES

New York City—like many big cities—faces wide disparities in public health, with residents of economically disadvantaged areas disproportionately affected by health problems such as asthma, diabetes, cancer, and heart disease. Although the city has embarked on an initiative to raise the averagelifespan from 80 to 83 years by 2030, there is a lot of work to be done to address the largest drivers of premature death, such as chronic- and diet-related diseases, screen-able cancers, overdose, suicide, maternal mortality, violence and Covid-19.1 Against this backdrop, the annual Anthem Whole Health

Heroes Awards, for the fth year in a row, is recognizing 25 professionals who are working to bring better health to New Yorkers. Through the awards, Anthem Blue Cross and Blue Shield is reaf rming its emphasis on holistic and preventative health. The program recognizes professionals who are addressing the physical, behavioral and social aspects of health. Much of people’s health is affected by social determinants, such as economic stability, access to education and quality healthcare, residence in a neighborhood that promotes health and safety and access to

social and community support, according to the U.S. Department of Health and Human Services.2

The nominees include individuals and organizations in the New York Metro area that are innovating new drugs, treatments and medical procedures helping patients with asthma, diabetes, cancer, and heart health; implementing employee wellness strategies within their organizations and promote mental and overall health; advancing nancial health in their communities and improving social health by using their

in uence in their organization and broader community. Individuals from all industries who are employed-full time and have worked in their elds for ve years were eligible. Representatives on a panel from Anthem and Crain’s Content Studio chose the honorees, a few of whom attended a Met’s game in August in recognition of their contributions. They will be also celebrated at an October 17 luncheon. Crain’s Publisher and Executive Editor Frederick P. Gabriel and Victor DeStefano, president of Anthem Blue Cross and Blue Shield will participate

in the event.

“We are proud to highlight the individuals and organizations who are making a real difference in improving the health and well-being of all New Yorkers,” said DeStefano. “By working together, we can improve how we screen, prevent, and manage chronic conditions and address the physical, behavioral, and social drivers of health.”

Surgeon-scientist at Memorial Sloan Kettering Cancer Center

Founding director, The Olayan Center for Cancer Vaccines at MSK

Vinod Balachandran, MD, is on the front lines of ghting pancreatic cancer through his work as a surgeon-scientist at Memorial Sloan Kettering Cancer Center (MSK) and director of The Olayan Center for Cancer Vaccines at MSK, an academic biohub pioneering the use of cancer vaccines. His research in a landmark clinical trial led to the discovery of a promising new therapy. His team showed that personalized RNA vaccines targeting ‘neoantigens’ – antigens unique to cancer cells – can spark an immune response associated with delayed pancreatic cancer recurrence. This work has led to both increased global interest in RNA vaccines to treat cancer and efforts to use successful vaccination to treat other cancers. He earned his MD at SUNY Stonybrook.

Head of Total Rewards, Headway

Christina Byrd has made her mark at Headway—a company whose mission is to build a new mental healthcare system that everyone can access—by transforming employee bene ts. She has led the organization’s transition from using a Professional Employer Organization (PEO) to a tailored bene ts suite with a new insurance carrier, driving substantial improvements in family insurance plans, parental leave, and access to mental healthcare. Headway has its family leave policy from 13 to 16 weeks, introduced fertility and family forming bene ts, increased the employer contribution to family healthcare premiums, and rolled out employer-paid life insurance and disability insurance. The company now reimburses out-of-pocket therapy costs for employees (up to IRS limits) and actively supports employees blocking therapy sessions on their work calendars. Byrd has a BA from University of California at Berkeley and an MBA from Harvard Business School.

Director of Community and Member Engagement

Hot Bread Kitchen

As director of community and member engagement at the nonpro t Hot Bread Kitchen, Sonam Choedon has helped legions of New Yorkers—including women, immigrants, people of color and gender-expansive people— nd a path to nancial health through culinary-job-skills training and high-quality job placement. Known for her advocacy of immigrant New Yorkers, Choedon— who was raised in a Tibetan family that moved to Queens—has helped many newly arrived immigrants access resources from local nonpro ts and government agencies. During her tenure at Hot Bread Kitchen, Sonam’s team has helped more than 800 members work toward economic mobility and disbursed over $510k in emergency funds to members for COVID-19 support, rental and utility arrears, and food assistance. She holds a master’s degree in social work from Columbia University.

Co-founder and CEO, Nevvon

As an owner of a home-care agency, James Cohen saw the need for an effective, user-centric compliance platform for caregiver certi cation and continuing education. Based on his belief in “better training, better care,” Cohen launched Nevvon in 2018 -- a mobile app-based Learning Management System that addresses this gap in the marketplace. The company has quickly grown from a start-up into an up-start: by mid-2023, the platform had trained over 263,000 caregivers across more than 300 client agencies, and Nevvon has grown to more than 70 employees on ve continents. Cohen, now a board member for the New York State Association of Health Care Providers, is a graduate of York University.

1. https://www.nyc.gov/of ce-of-themayor/news/839-23/mayor-adamshealth-commissioner-dr-vasan-launchambitious-whole-of-government-campaign-extend#/0

2. https://health.gov/healthypeople/ objectives-and-data/browse-objectives/ social-and-community-context

Vice President for Health Equity Research and Iris and Saul Katz Chair of Women’s Health Research Feinstein Institutes for Medical Research at Northwell Health Elizabeth Cohn has devoted much of her career to women in New York’s most underserved communities. Leading research at the Iris and Saul Katz Institute for Women’s Health at Northwell Health, she and her team have studied menopause, maternal health, and mental health for women. She has led innovative health and business partnerships through the New York Stock Exchange and New York State’s Empire State Development. She is also an assistant professor/research scientist at Columbia University in the City of New York, where she earned her doctoral degree at Columbia University; The Rudin Professor Emeritus of Community Health Nursing at the City University of New York and a White House Champion of Change in Precision Medicine and Health Equity. She is author of The Principles of Community Engagement 3rd Edition, now in its 30th year, the seminal text on how research can improve our nation’s health, published by the Centers for Disease Control and Prevention and the National Institutes of Health.

VINOD BALACHANDRAN, MD

CHRISTINA BYRD

SONAM CHOEDON

JAMES COHEN

ELIZABETH COHN, RN

MEET THE 2024 ANTHEM WHOLE HEALTH HEROES

Executive Director, East Side House Settlement

At East Side House Settlement, Executive Director Daniel Diaz has transformed the lives of New Yorkers, primarily in the South Bronx. Under his leadership, the nonpro t has established the Post-Secondary Pathways Program, which provides certi cation and workforce opportunities, and the group’s healthcare workforce training programs have formed critical partnerships with employers. His next initiative: Haven Charter High School, slated to open in 2025, which will train local high school students to become healthcare professionals. Meanwhile, the Harvest to Haven program, which includes a food pantry and community teaching kitchen, has not only fed more than 250,000 people but also provides youth training. He holds an MSW in social work from Fordham University and BA in psychology from Baruch College.

MATT JOZWIAK

Founder and CEO, Rethink Food

Aiming to create a more sustainable and equitable food system, Matt Jozwiak founded Rethink Food in 2017. Under his leadership as CEO, the nonpro t has battled food insecurity by rescuing excess food from restaurants and delivering it to communities in need and enlisting restaurants to prepare meals for their local communities—delivering more than 40,000 meals a week. Jozwiak, who went to culinary school at Pierre Orsi in Lyon, France, has been part of the culinary teams at Auberge de L’ile Barbe in Lyon, Noma in Copenhagen, The NoMad in New York, and Eleven Madison Park, where he served as chef de partie at age 27. He is a member of the board of Rethink Food and also serves on the advisory board of The Foundation for New York’s Strongest.

ERIC FEINSTEIN

President & CEO, Clarapath

Eric Feinstein is the President & CEO of Clarapath, a groundbreaking medical robotics company. Eric has channeled his passions in healthcare, engineering and enterprise building into Clarapath’s innovative systems and solutions that improve outcomes, reduce costs, and increase ef ciency in histopathology. He brings a variety of experience as both as an operator and investor in medical devices, healthcare services, software and CPG / luxury goods. Eric was named one of the 40 under 40 Rising Stars by The Business Council of Westchester and has previously served on the boards of several medical device and healthcare service businesses. He holds a degree in from Trinity College and an MBA from Cornell University.

MICHELLE GALL

Executive director and founder, Digital Girl, Inc.

Michelle Gall, executive director and founder of Digital Girl, Inc. discovered her love of technology late in her career—and is determined to make sure girls and youth from the inner city have a chance to learn STEM (science, technology, engineering and math) subjects earlier than she did. Her nonpro t, which empowers young people to pursue STEM careers, has provided instruction to more than 10,000 participants since she founded it in 2014. Gall has won numerous awards including the Special Recognition Award from New York State Assembly Member Tremaine Wright, the SLICE Award for a STEM Trailblazer and one of Barclay Center’s Essential Together Honorees in 2021 for Digital Girl’s contributions during the pandemic.

ERIC HALEY AND VIRAJ PURI

Co-founders, Gotham Greens

Eric Haley and Viraj Puri are pioneers in indoor agriculture, leading the fresh-food company Gotham Greens and growing it to more than 700 employees at 13 high-tech greenhouse facilities in nine states. The Certi ed B Corp. grows and delivers leafy greens, herbs, salad kits and other products to retail, restaurant and foodservice customers. Previously CEO Puri led startups in the U.S., India and Malawi and was recognized as Ernst & Young’s Entrepreneur Of The Year® New York, one of the “100 Most Intriguing Entrepreneurs of 2020” by Goldman Sachs a Crain’s NY Business “40 under 40.” CFO Haley began his career in nance at JPMorgan Chase and then M&A, capital raising and strategic consulting at Corporate Fuel Partners.

ROBIN KAHAN-BERMAN

Vice President of Occupational Therapy, Project Renewal

An occupational therapist with more than 25 years of experience in mental health, Robin Kahan-Berman joined the nonpro t Project Renewal, focused on ending the cycle of homelessness, in 2009, launching its pioneering Occupational Therapy Department. She also designed the group’s award-winning occupational-therapy program Helping Older People Engage (HOPE) program for seniors in supportive housing—a foundation of the group’s programming. Known as a thought leader in her eld, she is a clinical Instructor at Columbia University in its occupational therapy program and previously worked at Brookdale Hospital and New York Hospital-Cornell Medical Center. She graduated with an EdM at Harvard University and earned her BS in occupational therapy at Tufts University.

EMILY KINGMAN

Vice president, Whole Health Strategic Initiatives, Institute for Community Living (ICL)

The Institute for Community Living, a nonpro t behavioral health organization, supports 13,000 people annually with 140 community-based programs, serving clients with serious mental illnesses, homelessness and developmental disabilities. Emily Kingman leads ICL’s Hope Center, which connects clients with specially trained staff who can link them to appropriate resources. She was instrumental in establishing ICL’s East New York Health Hub, one of the most comprehensive whole health centers in the country. She led the Hub’s operational partnership with Community Healthcare Network to enhance communication between providers of physical, behavioral health, and social services. She also coordinated the integration of primary care into ICL’s Assertive Community Treatment mobile treatment programs. She earned a BA in psychology from Rutgers University and an MSW at New York University.

NICOLE IANNARONE

President, Cornerstone Behavioral Services

As founder and president of Cornerstone Behavioral Services, Board Certi ed Behavioral Analyst Nicole Iannarone leads 60 employees who work with more than 100 learners with disabilities from all over Long Island, helping their families navigate challenges within the education system and advocating for their children’s rights. Founded in 2019, Cornerstone offers services including 1:1 instruction, social skills groups, parent counseling and education, advocacy, staff education and development and consultation. In August 2024, Cornerstone was slated to open its rst clinical space, located in Seaford, NY. The award-winning practice has been recognized for the 4th year in a row as ‘Best of Long Island — ABA Provider for both Best of Nassau County and a Long Island Choice Award for two consecutive years.

AZEEM LATIB, MD

Monte ore Einstein System Director for Interventional Cardiology and Structural Heart Section; Head, Interventional Cardiology, Monte ore Medical Center; Director of Structural Heart, Monte ore Medical Center & White Plains Hospital

Azeem Latib, MB BCh, is a renowned expert in interventional cardiology, with a clinical focus on complex coronary interventions and transcatheter aortic, mitral and tricuspid interventions. He has extensive clinical experience in TAVR and MitraClip and in novel devices to treat mitral and tricuspid valve disease minimally invasively. Global Principal Investigator for multiple international clinical trials, he has published his ndings in more than 850 peer-reviewed publications and serves on the editorial board of many journals. In 1995, Dr. Latib received his Bachelor of Medicine at the University of Witwatersrand, completed a fellowship with the College of Physicians of South Africa in 2002 and in 2008 earned a master’s in interventional cardiology at San Raffaele Scienti c Institute and University Vita Salute.

DEBORAH MARIN, MD AND JONATHAN DEPIERRO, PHD

Director and Associate Director, respectively, Mount Sinai Center for Stress, Resilience and Personal Growth

The Mount Sinai Center for Stress, Resilience and Personal Growth was launched during the early days of the pandemic to address the emotional impact of on the system’s health care providers. In leading the center, Drs. Deborah Marin, MD, and Jonathan DePierro, Ph.D., now oversee an array of efforts to support their resilience and mental health. They developed an evidence-based behavioral health treatment service for healthcare workers and a digital toolkit to build resilience. Dr. Marin is also the George and Marion Blumenthal Professor of Psychiatry, and Dr. DePierro is an Associate Professor of Psychiatry at the Icahn School of Medicine at Mount Sinai. Their work has led to the recent book Resilience: The Science of Mastering Life’s Greatest Challenges. Dr. Marin received her MD at the Icahn School of Medicine at Mount Sinai; DePierro did his fellowship at New York University School of Medicine.

DANIEL DIAZ

AUJA MCDOUGALE, MD

Obstetrician Gynecologist

Weill Cornell Medicine; Medical Director, Community and Population Health, NewYork-Presbyterian Hospital; Medical Director, Mom and Baby March of Dime Mobile Health Center

Determined to tackle systemic health disparities, board-certi ed obstetrician and gynecologist Auja McDougale, MD, has negotiated an expansion of community peer supports as part of an integrated Maternal Child Health 4th trimester programing at New York-Presbyterian. She works with her interdisciplinary team to identify at risk patients with a focus on high-risk maternal condition, homelessness and teen pregnancy. Teaming up with North Manhattan Perinatal Partnership, her group is training dozens of doulas and community health workers to help 300 families. At the Mom and Baby March of Dime Mobile Health Center, Dr. McDougale brings prenatal care to the front doors of thousands of uninsured individuals in a 40-foot medically equipped RV. She received her medical degree at New Jersey Medical School-Rutgers University and a BS from University of Maryland.

SEAN PRENDERGAST, SHRMSCP, SPHR, MBA

Executive vice president, chief human resources and compliance of cer, Volunteers of AmericaGreater New York (VOA-GNY)

Sean Prendergast is on the front lines of combating poverty at Volunteers of America-Greater New York (VOA-GNY), through his role as EVP and chief human resources and compliance of cer. He plays a key role in steering the 128-year-old nonpro t, which operates more than 70 programs and employs over 1,000 staff members who deliver essential housing, healthcare, and wealth-building services to about 12,000 people annually. Since joining VOA-GNY in 2015, Sean has overseen all human resources, compliance, risk management, learning and performance, and quality assurance functions. Under his leadership, VOA-GNY has achieved one of the lowest turnover rates among social service employers in New York City, in part because of the organization’s increased emphasis on health and nancial wellness. He earned his MBA from Touro University International.

ROBERT E. MICHLER, MD

Surgeon-in-Chief of the Monte ore Einstein Health System; Chairman, Department of Surgery; Chairman, Department of Cardiothoracic & Vascular Surgery; and the Samuel I. Belkin Professor at the Albert Einstein College of Medicine

Internationally acclaimed heart surgeon Robert E. Michler, MD specializes in complex heart surgery, aortic and mitral valve repair, and management of the failing heart. He has been named a Mitral Valve Repair Reference Surgeon by the American Heart Association and the Mitral Foundation. At the Monte ore Einstein Health System, he has led transformation initiatives to reduce expenses across 11 hospitals. In 2017, he spearheaded the establishment of the lung transplantation and endstage pulmonary failure program. He is also responsible for establishing the Monte ore Einstein Cardiac Surgery Program at White Plains Hospital. A Harvard University graduate, he earned his MD at Dartmouth Medical School. He is Founder and Chairman of the not-for-pro t foundation Heart Care International, which performs pediatric heart surgery in underserved regions.

MICHAEL RIORDAN Co-owner, FIT Tours

As co-founder of City Fit Tours, native New Yorker Michael Riordan, a certi ed Fitness Trainer and Licensed NYC Sightseeing Guide, has helped to establish New York City as a wellness destination. Delivering active ways for people to explore the city’s most iconic attractions, including Yoga Walks in Central Park, Morning Walkabouts in Times Square, and guided running tours across the Brooklyn Bridge, Riordan and his team have led thousands of visitors through their immersive wellness experiences. Many companies have now discovered City Fit Tours and are opting for their offerings as networking and team building activities in place of alcohol fueled happy hours. City Fit Tours also now operates in Chicago, San Diego, Boston, Philadelphia, and Washington DC. Riordan got his start in hospitality as a professional bartender and majored in Communications at Fordham University.

CHRIS

Founder and executive director, Heath People

Chris Norwood leads a team that is educating and empowering low-income communities to ght the mass chronic illness that has overwhelmed them. The group this year brought a comprehensive health building and health coaching project to a Bronx public housing complex with six buildings and 4,200 people. Its model, which trains local residents to lead and implement health programs, quickly trained 12 people from the community to become community health workers, who enrolled residents with chronic disease in health coaching and established an array of health activities, from shopping and nutrition seminars to improving sleep. Health People’s well evaluated, peer educator-delivered Diabetes Self-Management program has engaged more than 2,000 Medicaid patients at community sites ranging from homeless shelters to churches. The group has assisted more than 200 residents in three months. Norwood, who attended Wellesley College, has been recognized nationally for her work in HIV/AIDS and peer-delivered health education.

ELLIOT SABBAGH, DDS

Owner, Pura Dental Center

Dr. Elliot Sabbagh, DDS, owns ten family dental practices in Queens, Brooklyn, the Bronx and Upper Manhattan, providing access to quality dental care to lower-income communities. United around the purpose of eliminated the dread patients feel about their dental visits, the clinics aim to deliver a painless experience built on two pillars: good vibes and transparency. The clinics have collectively treated more than100,000 patients, offering dental services including implants, crowns and children’s dentistry. The clinics received the QARR Dental Center of Excellence award from Dentaquest a subsidiary of Sun Life Financial Inc. Sabbagh graduated with honors from the accelerated DDS program at New York University.

DENISE NUÑEZ, MD

Monte ore Health System, Assistant Professor of Pediatrics; Founder, executive director Divino Niño; CEO/President, Doctor Urgent Medical Care; CEO, DN Medical Services

Pediatric critical care medicine

specialist Denise Nuñez, MD, is paving the way to better access to healthcare among the Latino immigrant community and other underserved residents of the Bronx through three endeavors on East Fordham Road: A pediatric medical of ce called DIVINO Niño Pediatrics, which offers specialized care to children with complex diseases; a clinic for adults called Dr Urgent Medical Care and the not-for-pro t Niño de la Caridad foundation,” which provides mentoring and education. Describing herself as “a proud Latina board certi ed general pediatrician,” she uses social media platforms such as Facebook, Instagram, YouTube and TikTok to educate the public on current health issues. She earned her MD at Universidad Nacional Pedro Henriquez Urena and a postgraduate degree at Albert Einstein College of Medicine.

JADA SHAPIRO

CEO and founder, Boober; Founder, Birth Day Presence

Maternal health expert and reproductive health advocate Jada Shapiro is the visionary founder of Boober, a platform dedicated to transforming the pregnancy, birth, and postpartum experiences of expectant and new parents through on-demand expert care and high-quality education. Since launching Boober in 2017, she has empowered over 20,000+ families by facilitating easy access to top-tier maternal healthcare providers, including doulas, lactation consultants, mental health therapists, and more, tapping her experience as a birth and postpartum doula, childbirth educator, lactation counselor, birth photographer, mother and stepmother. She also founded Birth Day Presence, a childbirth education and doula training center in New York City in 2002. She earned her BA from Wesleyan University.

MICHELINE NUÑEZ

HR Bene t and Wellness Manager, RiseBoro Community Partnership

A dedicated HR professional with more than 10 years of experience in recruitment and managing employee bene ts and wellness programs, Micheline Nuñez has been a key member of the HR team at RiseBoro Community Partnership, an organization that supports holistic community revitalization through initiatives such as development of affordable housing. With a strong background in recruitment, program management, employee relations, compliance, and bene ts administration, Nuñez has created tailored solutions and innovative initiatives to meet the organization’s needs while boosting workplace morale and productivity. Committed to fostering a positive company culture, Micheline she works to continuously improve the organization’s programs and support staff well-being. Outside of work, she is an active traveler, creative writer and animal rescue volunteer.

Team Recognition

The Institute for Family Health, a nonpro t community health organization based in New York City, develops and operates community health care centers that provide primary care, behavioral health care, dental care and social services. Its mission is providing high-quality, patient-centered primary care in communities historically underserved because of racism and poverty, regardless of patients’ ability to pay. The institute offers training to healthcare professionals, advocates for health equity and justice, leverages health IT to improve patient care and coordination, develops and sustains partnerships with community-based and governmental organizations to address the needs of the communities it serves, engages in health services research and formulates policy in areas such as primary care and behavioral health care.

NORWOOD

THE INSTITUTE FOR FAMILY HEALTH

Anthem honors New York’s Whole Health Heroes for their commitment to advancing health for all

Congratulations on your outstanding contributions to improving the health of humanity.

Leading companies lean into life outside of work

yB Amanda Glodowski

What makes a “best place to work” may not have much to do with job assignments.

Instead, the companies that ranked on Crain’s annual list make it their business to enable their employees to live their lives outside work, prioritizing and even requiring work-life balance, and o ering resources for family planning and health care bene ts that go beyond insurance coverage.

yB Crain’s Staff

AS COMPANIES NAVIGATE an ever-evolving landscape, they are tasked with balancing hybrid work with a growing emphasis on work-life balance. The top performers are those that excel in blending innovative bene ts, effective strategies and exible policies.

The 2024 Best Places to Work list highlights organizations across the city that have not only excelled at adapting to rapid change, but also prioritize creating exceptional experiences for their employees.

1. Digital Remedy

Industry: Advertising/marketing/ public relations | Senior most leader: Michael Seiman, CEO, founder

◗ Total U.S. employees: 108

Total New York employees: 45

◗ Percentage of health care premium covered by the employer: 91%

Voluntary turnover: 10%

◗ Paid time off received in rst year: Unlimited

◗ Paid holidays: 16

2. Clune Construction

Industry: Construction | Senior most leader: Dave Hall, CEO | Most senior local leader: Sean Clune, president

Total U.S. employees: 732

◗ Total New York employees: 142

Percentage of health care premium covered by the employer: 100%

◗ Voluntary turnover: 7%

Paid time off received in rst year: N/A

Paid holidays: 7

3. Perkins Coie LLP

Industry: Legal | Senior most leader: William Malley, rm managing partner | Most senior local leader: Ron Sarubbi, New York of ce managing partner

Total U.S. employees: 2,428

◗ Total New York employees: 158

Percentage of health care premium covered by the employer: 100%

◗ Voluntary turnover: N/A

Paid time off received in rst year: 20

Paid holidays: 10

4. Cannon Hill Capital Partners

Industry: Real estate/renting/leasing

| Senior most leader: Jeffrey Gronning, CEO | Most senior local leader: Jeffrey Gronning, CEO

Total U.S. employees: 54

◗ Total New York employees: 54

Percentage of health care premium covered by the employer: 100%

◗ Voluntary turnover: 7%

Paid time off received in rst

Crain’s partners with Workforce Research Group, an independent rm that provides the data. e rankings are based on employee surveys as well as an employer questionnaire that comprehensively measures a rm’s bene ts.

Employees who work at companies on the list feel they can take their allotted time o . Of the featured rms on Crain’s Best Places list, a quarter o er unlimited paid time o . eir employees take an annual average of 20 days o , 10 personal days and ve sick days. For companies that applied but didn’t make the list, employees took 18 days o but no sick or personal days.

Boundaries also emerged as a key attribute separating the best places to work from the rest. Eight in 10 employees said their company o ered exible work hours and personal development or stress management training. Some of the biggest gaps between companies on the list versus

those that didn’t make it were rules against mandatory overtime, requiring employees to use their time o and encouraging employees to limit checking email and voicemail outside of work hours. In fact, half of managers at Best Places receive formal training to encourage worklife balance among their sta .

Extensive bene ts

Bene ts that extend beyond the employee are growing in popularity. Nearly 6 in 10 companies on the list o er adoption bene ts, including legal advice, counseling and reimbursement for agency fees, court costs, travel and lodging. One-third o er marriage and family counseling. e top family-related bene t that most listed companies offer? Flexibility to attend children’s school events.

While employers o er a litany of bene ts that help their employees in their own lives, it seems that programs encouraging them to work toward a greater good are less impactful drivers of employee satisfaction. Less than half of companies offer to match employees’ charitable donations, and just 51% have an employee volunteer program. Contrast that with rms that did not make the list, which outperformed each metric by 10 percentage points. However, threefourths of rms on the list participate in food, clothing and toy drives.

To qualify for the list, a company must have at least 25 fullor part-time permanent employees working in the city, have a physical location in the ve boroughs and have been in business for at least a year as of the program registration deadline.

How we selected this

year’s Best Places to Work in NYC

For Best Places to Work in NYC, Crain’s partners with Workforce Research Group, an independent firm that manages employee engagement surveys, to conduct the research and provide us with a ranked list.

The rankings are based on a calculation that involves the

weighting of an employee survey (80%) and an employer questionnaire (20%).

To qualify for the list, a company must:

◗ Have at least 25 full- or parttime permanent employees working in New York City (includes the following boroughs: Manhattan, Bronx, Brooklyn, Staten Island and Queens).

◗ Have a physical operation in New York City (includes the following boroughs: Manhattan, Bronx, Brooklyn, Staten Island and Queens).

Be a publicly or privately held organization.

Be a for-profit, not-for-profit, or a government organization.  Have been in business for at least one year, at the program registration deadline.

yB Crain’s Staff

#22 Index Exchange

#2 Clune Construction | Buck Ennis

#7 AdTheorent Buck Ennis

year: 20

Paid holidays: 13

5. Runway

Industry: Technology | Senior most leader: Cris Valenzuela, co-founder, CEO

Total U.S. employees: 81

◗ Total New York employees: 30

Percentage of health care premium covered by the employer: 100%

◗ Voluntary turnover: 3%

Paid time off received in rst year: Unlimited

Paid holidays: 16

6. Berkowitz Pollack Brant Advisors + CPAs

Industry: Accounting | Senior most leader: Joseph L. Saka, CEO | Most senior local leader: Michael Brennan, director

Total U.S. employees: 395

◗ Total New York employees: 34

Percentage of health care premium covered by the employer: 75%

◗ Voluntary turnover: 10%

Paid time off received in rst year: Unlimited

Paid holidays: 7

7. AdTheorent

Industry: Advertising/marketing/ public relations | Senior most leader: Jim Lawson, CEO

Total U.S. employees: 308

◗ Total New York employees: 201

Percentage of health care premium covered by the employer: 95%

◗ Voluntary turnover: 9%

Paid time off received in rst year: 20

Paid holidays: 12 8. Peppercomm

Industry: Advertising/marketing/ public relations | Senior most leader: Steve Cody, CEO

Total U.S. employees: 30

◗ Total New York employees: 29

Percentage of health care premium covered by the employer: 84%

◗ Voluntary turnover: 9%

Paid time off received in rst year: N/A

Paid holidays: 11

9. Schimenti Construction

Company

Industry: Construction | Senior most leader: Matthew Schimenti, president | Most senior local leader: James Harrison, vice president Paid holidays: 8

◗ Total U.S. employees: 243

Total New York employees: 108

◗ Percentage of health care premium covered by the employer: 66%

Voluntary turnover: 9%

◗ Paid time off received in rst year: 15

◗ Paid holidays: 8

10. SEI - New York

Industry: Consulting | Senior most leader: Jason Davis, managing director

◗ Paid holidays: 10

Total U.S. employees: 29

◗ Total New York employees: 29

Percentage of health care premium covered by the employer: 80%

◗ Voluntary turnover: 66%

Paid time off received in rst year: 25

Paid holidays: 10

11. Feuerstein Kulick LLP

Industry: Legal | Senior most leader: David Feuerstein, co-founder,

partner | Most senior local leader: Mitchell Kulick, co-founder, partner

◗ Total U.S. employees: 31

Total New York employees: 26

◗ Percentage of health care premium covered by the employer: 100%

Voluntary turnover: N/A

◗ Paid time off received in rst year: 28

◗ Paid holidays: 11

12. J.T. Magen & Company Inc.

Industry: Construction | Senior most leader: Maurice Regan, president, CEO

Total U.S. employees: 425

◗ Total New York employees: 365 Percentage of health care premium covered by the employer: 75%

◗ Voluntary turnover: 2%

Paid time off received in rst year: 10

Paid holidays: 10

13. Conceptcsi

Industry: Construction | Senior most leader: Sean Mulleady, CEO | Most senior local leader: Clare Cunningham, vice president of nance

◗ Total U.S. employees: 28

Total New York employees: 28

◗ Percentage of health care premium covered by the employer: 75%

Voluntary turnover: 9%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 8

14. LMC

Industry: Accounting | Senior most leader: Lee M. Cohen, CEO

Total U.S. employees: 95

◗ Total New York employees: 88 Percentage of health care

premium covered by the employer: 100%

◗ Voluntary turnover: 3%

Paid time off received in rst

year: Unlimited Paid holidays: 11

15. Tarter Krinsky & Drogin LLP

Industry: Legal | Senior most leader: Alan Tarter, managing partner

Total U.S. employees: 199

◗ Total New York employees: 195

Percentage of health care premium covered by the employer: N/A

◗ Voluntary turnover: 7%

Paid time off received in rst year: 11

Paid holidays: 11

16. Ryan

Industry: Corporate tax advisory services | Senior most leader: G. Brint Ryan, CEO | Most senior local leader: Tony Gulotta, principal, sales and use tax

Total U.S. employees: 2,723

◗ Total New York employees: 55 Percentage of health care premium covered by the employer: 90%

◗ Voluntary turnover: 8%

Paid time off received in rst year: Unlimited Paid holidays: 18

17. Atrium

Industry: Workforce and talent solutions | Senior most leader: Rebecca Cenni-Leventhal, founder, CEO | Most senior local leader: Adam Samples, President of staf ng Total U.S. employees: 291

◗ Total New York employees: 74 Percentage of health care premium covered by the employer: 50%

◗ Voluntary turnover: 16%

Paid time off received in rst year: 20

Paid holidays: 12

18. Shawmut Design and Construction

Industry: Construction | Senior most

#18 Shawmut Design and Construction

Clune Construction is proud to be recognized by Crain’s NY Business as a Best Place to Work in New York City!

Buck Ennis, Photographer, Crain’s New York Business

leader: Les Hiscoe, CEO | Most senior local leader: David Margolius, EVP, New York Metro

◗ Total U.S. employees: 1,300

◗ Total New York employees: 143

◗ Percentage of health care premium covered by the employer: 95%

◗ Voluntary turnover: N/A

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 12

19. DeepIntent

Industry: Advertising/marketing/ public relations | Senior most leader: Christopher Paquette, CEO

◗ Total U.S. employees: 148

◗ Total New York employees: 148

◗ Percentage of health care premium covered by the employer: 100%

◗ Voluntary turnover: 8%

◗ Paid time off received in rst year: Unlimited

◗ Paid holidays: 13

20. Alan Margolin & Associates

Industry: Engineering | Senior most leader: Andrew Borek, managing partner

◗ Total U.S. employees: 30

◗ Total New York employees: 30

◗ Percentage of health care premium covered by the employer: 60%

◗ Voluntary turnover: 6%

◗ Paid time off received in rst

year: N/A

◗ Paid holidays: 10

21. Marx Realty

Industry: Real estate/renting/leasing

| Senior most leader: Craig Deitelzweig, president, CEO

◗ Total U.S. employees: 35

◗ Total New York employees: 35

◗ Percentage of health care premium covered by the employer: 100%

◗ Voluntary turnover: 0%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 12

22. Index Exchange

Industry: Technology | Senior most leader: Andrew Casale, president, CEO | Most senior local leader: Lori Goode, chief marketing of cer

◗ Total U.S. employees: 125

◗ Total New York employees: 81

◗ Percentage of health care premium covered by the employer: 100%

◗ Voluntary turnover: 2%

◗ Paid time off received in rst year: 20

◗ Paid holidays: 10

23. Leaf Home

Industry: Construction | Senior most leader: Rocco Mango, interim CEO

| Most senior local leader: Nina George, chief growth of cer; Scarlett O'Sullivan, chief nancial of cer

◗ Total U.S. employees: 3,853

◗ Total New York employees: 30

◗ Percentage of health care premium covered by the employer: 100%

◗ Voluntary turnover: 77%

◗ Paid time off received in rst year: Unlimited

◗ Paid holidays: 8

24. Anchin

Industry: Accounting | Senior most leader: Russell B. Shinsky, managing partner

◗ Total U.S. employees: 407

◗ Total New York employees: 407

◗ Percentage of health care premium covered by the employer: 80%

◗ Voluntary turnover: 10%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 11

25. C.A.C. Industries

Industry: Construction | Senior most leader: Michael A. Capasso, president | Most senior local leader: John Curley, chief administrative of cer

◗ Total U.S. employees: 465

◗ Total New York employees: 465

◗ Percentage of health care premium covered by the employer: 90%

◗ Voluntary turnover: 1%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 9

EMPLOYEE OWNED 100%

C.A.C. Industries is a New York City based company specializing in Heavy Civil Construction, including sewer, water main, roadway, resiliency, and infrastructure projects. Our 500+ employees work hard to get our challenging projects done while maintaining a focus on our four Core Values: It’s Always WE, Be Green & Lean, Educate to Transform, and Be Humble & Kick Ass. As of 2024, C.A.C. is proud to announce we are 100% Employee Owned. This milestone reflects our commitment to a strong, unified culture where every member of our organization has a stake in our success. We are proud to be one of the best places to work in NYC.

#19 DeepIntent

#25 C.A.C. Industries

26. Peapack Private

Industry: Banking | Senior most leader: Douglas L. Kennedy, president, CEO | Most senior local leader: Andrew Corrado, president

◗ Total U.S. employees: 596

Total New York employees: 99

◗ Percentage of health care premium covered by the employer: 90%

Voluntary turnover: 7%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 11

27. HITT Contracting

Industry: Construction | Senior most leader: Kim Roy, CEO | Most senior local leader: Andre Grebenstein, VP

◗ Total U.S. employees: 1,665

Total New York employees: 47

◗ Percentage of health care premium covered by the employer: 70%

Voluntary turnover: N/A

◗ Paid time off received in rst year: 18

◗ Paid holidays: 8

28. RF|Binder

Industry: Advertising/marketing/ public relations | Senior most leader: Amy Binder, CEO

◗ Total U.S. employees: 55

Total New York employees: 55

◗ Percentage of health care premium covered by the employer: 89%

Voluntary turnover: 13%

SPONSORED CONTENT

NY 11101 646-291-4444 • liveonny.org SPOTLIGHT

In being named to the Crain’s New York Business list of Best Places to Work, LiveOnNY lays claim to a unique bragging right, having now earned the distinction three years running.

at’s not by accident: e nonpro t, which facilitates organ donation from the greater New York Metro region to those on the transplant waitlist across the nation, has been working strenuously to exceed expectations in multiple arenas.

“Since launching our strategic three-year plan in 2022, LiveOnNY has seen more than a 50% increase in organ donations,” says Leonard Achan, its president and chief executive o cer. e organization has gone from one of the nation’s lowest-performing organ procurement organizations to a leader in the eld.

Not only has this turnaround changed and saved thousands of lives, it has also fostered a culture of excellence and employee satisfaction.

A key ingredient in that success is LiveOnNY’s approach to workforce composition.

Paid time off received in rst year: N/A

Paid holidays: 20

29. Northwestern Mutual - Park Avenue

Industry: Finance | Senior most leader: Adam Seiden, managing partner

◗ Total U.S. employees: 41

Total New York employees: 41

◗ Percentage of health care premium covered by the employer: 60%

Voluntary turnover: 16%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 13

30. HNTB

Industry: Engineering | Senior most leader: Robert E. Slimp, chairman, CEO | Most senior local leader: Kevin R Collins, of ce leader, senior vice president

◗ Total U.S. employees: 6,325

Total New York employees: 379

◗ Percentage of health care premium covered by the employer: N/A

Voluntary turnover: 7%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 7

31. UHY Advisors Northeast

Industry: Accounting | Senior most leader: Steven McCarty, CEO

Total U.S. employees: 1,734

“A core tenet of our strategic plan is our commitment to representation and our focus on diversity of thought and experience,” shares Achan. Indeed, LiveOnNY’s ranks re ect New York City’s demographics, with 60% of sta and executive leadership coming from Black, Hispanic, Asian or multiracial backgrounds. In addition to providing formal diversity and inclusion training on topics such as barriers to cultural intelligence and the value of workplace diversity, LiveOnNY promotes an inclusive environment internally through cultural celebrations.

Also fueling LiveOnNY’s leaps-andbounds growth is its mission-driven culture.

“Our work is challenging but deeply meaningful,” says Achan. “Our employees work with purpose, knowing they’re truly making a di erence and helping to save lives. LiveOnNY couldn’t ful ll its mission without their relentless dedication.”

Among the many mission-driven nonpro ts in the region, though, LiveOnNY stands out for the breadth of its employee o erings. Case in point: the organization’s e orts to support workforce and succession planning.

LiveOnNY provides mentoring, training and shadowing opportunities for sta , inviting them to attend and participate in industry events and conferences such as those run by Healthcare Leaders of NY and

Total New York employees: 123

◗ Percentage of health care premium covered by the employer: 75%-99%

Voluntary turnover: 11%

◗ Paid time off received in rst year: 17

◗ Paid holidays: 8

32. Benhar Of ce Interiors

Industry: Furniture dealer | Senior most leader: Mark Benhar, president

Total U.S. employees: 71

◗ Total New York employees: 71 Percentage of health care premium covered by the employer: 44%

◗ Voluntary turnover: 5%

Paid time off received in rst year: 16

Paid holidays: 12

33. Good Apple

Industry: Advertising/marketing/ public relations | Senior most leader: Albert Muzaurieta, founder, CEO

Total U.S. employees: 118

◗ Total New York employees: 54 Percentage of health care premium covered by the employer: 80%

◗ Voluntary turnover: 4%

Paid time off received in rst year: N/A

Paid holidays: 12

34. JRM Construction Management

Industry: Construction | Senior most

the Greater NYC Black Nurses Association. Rising leaders are tapped to attend galas and networking events and otherwise gain exposure to industry leaders.

e organization is also deliberate about appealing to all generations of workers — including Gen Z — using bots and chat messaging to streamline recruitment. Well aware of social media’s ability to shape perceptions, LiveOnNY bolsters its employer branding e orts on popular platforms by showcasing its values and culture to diverse audiences. It is also responding to evolving lifestyle demands by o ering exible work arrangements.

“By taking exceptional care of our employees, we attract top talent and empower our people to provide the best care to New Yorkers,” says Achan. Workplace successes do not escape

notice. Having identi ed employee recognition as a critical part of sta engagement, LiveOnNY uses a customized platform to reward performance and spur future achievement. It also awards “Challenge Coins” to commemorate organizational and personal milestones, including this recognition, honoring employees whose contributions were pivotal in meeting lifesaving goals.

Asked to describe LiveOnNY’s philosophy as an employer, Achan is clear-eyed. “Our philosophy is rooted in creating an environment where everyone feels valued and empowered to help save lives through donation.”

Three in a Row: LiveOnNY proudly celebrates being named a Crain’s Best Places to Work for three consecutive years.

Gift of Life: The family of

#27

#29 Northwestern Mutual - Park Avenue

BEST PLACES TO WORK IN NYC

◗ leader: Joseph P. Romano, president

◗ Total U.S. employees: 590

◗ Total New York employees: 458

◗ Percentage of health care premium covered by the employer: 90%

◗ Voluntary turnover: N/A

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 11

35. PKF O’Connor Davies

Industry: Accounting | Senior most leader: Kevin Keane, executive chairman | Most senior local leader: Clare Cella, partner-in-charge, New York City region

◗ Total U.S. employees: 1,476

◗ Total New York employees: 281

◗ Percentage of health care premium covered by the employer: 75%

◗ Voluntary turnover: 12%

◗ Paid time off received in rst year: 20

◗ Paid holidays: 11

36. Hudson Valley Property Group

Industry: Real estate/renting/leasing

| Senior most leader: Jason Bordainick, co-founder, managing partner | Most senior local leader: Andy Cavaluzzi, partner, co-founder

◗ Total U.S. employees: 42

employer: 100%

◗ Voluntary turnover: 4%

◗ Paid time off received in rst year: 20

◗ Paid holidays: 10

37. Burns & McDonnell

Industry: Engineering | Senior most leader: Leslie Duke, CEO | Most senior local leader: Damon Gray, branch of ce manager

◗ Total U.S. employees: 14,500

◗ Total New York employees: 46

◗ Percentage of health care premium covered by the employer: 75%

◗ Voluntary turnover: 5%

◗ Paid time off received in rst year: 15

◗ Paid holidays: 9

38. Clarion Capital Partners

Industry: Finance | Senior most leader: Marc Utay, managing partner

◗ Total U.S. employees: 35

◗ Total New York employees: 35

◗ Percentage of health care premium covered by the employer: 99%

◗ Voluntary turnover: 10%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 12

39. Amsive

Coppola, president

◗ Total U.S. employees: 720

◗ Total New York employees: 177

◗ Percentage of health care premium covered by the employer: 80%

◗ Voluntary turnover: 8%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 11

40. Lightstone Group

Industry: Real estate/renting/leasing | Senior most leader: David Lichtenstein, chairman, CEO | Most senior local leader: Mitchell Hochberg, president, COO

◗ Total U.S. employees: 522

◗ Total New York employees: 135

◗ Percentage of health care premium covered by the employer: 82%

◗ Voluntary turnover: 9%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 15

41. Forte Construction Corp.

Industry: Construction | Senior most leader: Larry Pappas, president | Most senior local leader: Zachary Cardillo, project manager

◗ Total U.S. employees: 125

◗ Total New York employees: 101

◗ Total New York employees: 42

◗ Percentage of health care premium covered by the

Industry: Advertising/marketing/ public relations | Senior most leader: Brad Moore, CEO | Most senior local leader: Michael

◗ Percentage of health care premium covered by the employer: 100%

◗ Voluntary turnover: 1%

◗ Paid time off received in rst

#35 PKF O’Connor Davies

#36 Hudson Valley Property Group

year: 10

◗ Paid holidays: 11

42. Vocon

Industry: Architecture | Senior most leader: Deb Donley, founder, chief experience of cer

◗ Total U.S. employees: 238

Total New York employees: 102

◗ Percentage of health care premium covered by the employer: 50%

Voluntary turnover: 10%

◗ Paid time off received in rst year: 15

◗ Paid holidays: 15

43. Michelman & Robinson, LLP

Industry: Legal | Senior most leader: Sanford Michelman, chairman | Most senior local leader: Michael Poster, partner-in-charge

◗ Total U.S. employees: 147

Total New York employees: 25

◗ Percentage of health care premium covered by the employer: 68%

Voluntary turnover: 9%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 12

44. CBIZ

Industry: Accounting | Senior most leader: Jerry Grisko, CEO | Most senior local leader: Jeffrey Gluck, regional senior managing director

Total U.S. employees: 7,118

Total New York employees: 144

◗ Percentage of health care premium covered by the employer: 90%

Voluntary turnover: 19%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 8

45. Grassi

Industry: Accounting | Senior most leader: Louis Grassi, president, CEO | Most senior local leader: Jeff Agranoff, chief human resources of cer

Total U.S. employees: 422

◗ Total New York employees: 51

Percentage of health care

premium covered by the employer: 75%

Voluntary turnover: 17%

◗ Paid time off received in rst year: 21

◗ Paid holidays: 8

46. Altfest Personal Wealth

Management

Industry: Finance | Senior most leader: Dr. Lewis Altfest, CEO

◗ Rank in 2023: 19

Total U.S. employees: 42

◗ Total New York employees: 42

Percentage of health care premium covered by the employer: 100%

SPONSORED CONTENT

AMERICAN FRIENDS OF THE HEBREW UNIVERSITY (AFHU)

New York, NY afhu.org SPOTLIGHT

AFHU raises awareness for the Hebrew University of Jerusalem (HU), a leading academic institution while raising funds to support scholarly and scienti c achievement at HU, create scholarships, fund new facilities, and assist the University’s e orts to recruit outstanding new faculty. e employees who endeavor to ful ll these aims work in a valuesdriven culture characterized by open conversation, respect and a focus on growth, both personal and professional. Crain’s New York

Business Content Studio queried Glennys M. Huhn, chief human resources o cer at AFHU, about the organization’s work environment.

How would you describe AFHU’s philosophy and core values as an employer?

We lead with intent and are deliberate about the environment we create. is approach dates to 2014, when we set out to shi our culture to one where our people come rst.

We started by reexamining our philosophy around recruitment, realizing that skills are not as critical as values. We pivoted to a values-based recruitment process, which was game-changing for the organization. Our core values at AFHU include respect, intellectual curiosity, self-awareness and quality work.

How does your employee treatment re ect those values?

Voluntary turnover: 2%

◗ Paid time off received in rst year: 16

◗ Paid holidays: 9

47. The Conference Board

Industry: Non-Pro t | Senior most leader: Steve Odland, president, CEO

Total U.S. employees: 243

◗ Total New York employees: 243

Percentage of health care premium covered by the employer: 83%

◗ Voluntary turnover: 11%

Paid time off received in rst year: N/A

Paid holidays: 13

48. HHM Hotels

Industry: Hospitality/restaurants

| Senior most leader: Naveen

Kakarla, CEO | Most senior local leader: Dani Elhachem, COO

◗ Total U.S. employees: 50

Total New York employees: 50

◗ Percentage of health care premium covered by the employer: 70%

Voluntary turnover: 5%

◗ Paid time off received in rst year: 10

◗ Paid holidays: 9

49. Thirty Madison

Industry: Healthcare provider/social care | Senior most leader: Michelle Carnahan, president

◗ Total U.S. employees: 676

Total New York employees: 83

Percentage of health care premium covered by the employer: 100%

◗ Voluntary turnover: 15%

Paid time off received in rst year: N/A

Paid holidays: 10

50. American Friends of the Hebrew University

Industry: Non-Pro t | Senior most leader: Joshua Rednik, CEO

Total U.S. employees: 40

◗ Total New York employees: 25

Percentage of health care premium covered by the employer: 75%

◗ Voluntary turnover: 10%

Paid time off received in rst year: N/A

Paid holidays: 23

51. Capitolis

Industry: Finance | Senior most leader: Gil Mandelzis, founder, CEO

◗ Total U.S. employees: 55

Total New York employees: 55

◗ Percentage of health care premium covered by the employer: 100%

Voluntary turnover: 7%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 13

52. JFKIAT

Industry: Aviation | Senior most leader: Roel Huinink, CEO

Total U.S. employees: 134

We value each team member’s perspective and are constantly providing opportunities for people to voice their opinions. We then collaborate on identifying actions to build on that feedback.

It’s important to listen and validate concerns while also delivering excellent work in support of our mission.

How would you describe AFHU’s culture? Can you give speci c examples of how that is fostered by leadership?

We’re connected by our mission and committed to continuous selfre ection, which allowed us to adjust as an organization, hold each other accountable, deliver strong results and challenge ourselves to improve.

Our policies and actions communicate that we care about team members’ holistic wellbeing. By o ering exibility and providing a generous

time o policy, we meaningfully engage employees, who are then motivated to perform at their best for an organization they know supports them.

Why do you describe your workplace a “learning environment”?

We hire professionals who align with our values and prioritize learning and growth. Employees are expected to assess their roles, identify opportunities for personal development, and lead.

Managers are encouraged to engage in feedback conversations with team members. We o er workshops on topics like collaboration, thinking preferences, and the neuroscience of conversations. New managers receive coaching on leadership challenges, while senior executives are coached on fostering a learning culture.

What do you think sets AFHU apart from similar organizations?

We place a strong emphasis on open communication. at’s a lesson we’ve internalized over the past ve years as we transitioned to a hybrid workforce, developing new forms of communication and ways to engage employees.

More important than having all the answers is having an ironclad commitment to communicate: to engage all parties and to share information around the strategies, challenges and changes that impact our people and our work.

One team, one mission! The AFHU team together with colleagues from HU during a recent team retreat in NYC. Photo by Christiana Vasilas.

Glennys M. Huhn. Photo by Sophia Stich.

Total New York employees: 134

Percentage of health care premium covered by the employer: 100%

Voluntary turnover: 12%

Paid time off received in rst year: N/A

Paid holidays: 10

53. Chelsea Lighting NYC

Industry: Distribution | Senior most leader: Suzanne Yoon, executive chairwoman | Most senior local leader: Sean Lafferty, CEO

Total U.S. employees: 61

Total New York employees: 55

Percentage of health care premium covered by the employer: 86%

Voluntary turnover: 23%

Paid time off received in rst year: N/A

Paid holidays: 11

54. LiveOnNY

Industry: Non-Pro t | Senior most leader: Leonard Achan, president, CEO

Total U.S. employees: 361

Total New York employees: 361

Percentage of health care premium covered by the employer: 100%

Voluntary turnover: 17%

Paid time off received in rst year: N/A

Paid holidays: 11

55. Arlo Hotels

Industry: Hospitality/restaurants

| Senior most leader: Amir Setayesh, Managing director

Total U.S. employees: 230

Total New York employees: 118

Percentage of health care premium covered by the employer: 70%

Voluntary turnover: 12%

Paid time off received in rst year: N/A

Paid holidays: 9

56. MG Engineering D.P.C.

Industry: Engineering | Senior most leader: Michael Gerazounis, managing principal, CEO

Total U.S. employees: 167

Total New York employees: 140

Percentage of health care premium covered by the employer: 76%

Voluntary turnover: 8%

Paid time off received in rst year: 17

Paid holidays: 8

57. Home eld IT

Industry: Technology | Senior most

leader: Joseph Rabinowitz, co-founder

Total U.S. employees: 46

Total New York employees: 46

Percentage of health care premium covered by the employer: 70%

Voluntary turnover: 1%

Paid time off received in rst year: N/A

Paid holidays: 8

58. Kravet Inc.

Industry: Wholesale trade | Senior most leader: Cary Kravet, president, CEO | Most senior local leader: Suzanne Cohen, chief marketing of cer

Total U.S. employees: 778

Total New York employees: 90

Percentage of health care premium covered by the employer: 100%

Voluntary turnover: 7%

Paid time off received in rst year: N/A

Paid holidays: 14

59. Rosenberg & Estis, P.C.

Industry: Legal | Senior most leader: Dean P. Arfanis, COO

Total U.S. employees: 187

Total New York employees: 187

Percentage of health care premium covered by the employer: 50%

Voluntary turnover: 29%

Paid time off received in rst year: 25

Paid holidays: 11

60. 24 Seven Talent

Industry: Staf ng | Senior most leader: Anthony Donnarumma, CEO | Most senior local leader: Nicole Tebo, senior executive vice president

Total U.S. employees: 244

Total New York employees: 69

Percentage of health care premium covered by the employer: 62%

Voluntary turnover: 12%

Paid time off received in rst year: 14

Paid holidays: 17

61. VNS Health Plans

Industry: Insurance (healthcare) | Senior most leader: John Burke, EVP, chief of health plans

Total U.S. employees: 841

Total New York employees: 841

Percentage of health care premium covered by the employer: 70%

Voluntary turnover: 10%

Paid time off received in rst year: 30

Paid holidays: 9

62. Talkspace

Industry: Mental health and wellness/ healthcare | Senior most leader: Dr. Jon Cohen, CEO

Total U.S. employees: 499

Total New York employees: 165

Percentage of health care premium covered by the

By Brooke B

80%

◗ Voluntary turnover: 51%

time off received in rst year: N/A Paid holidays: 11

63. Direct Agents

Industry: Advertising/marketing/ public relations | Senior most leader: Dinesh Boaz, co-founder, managing director

◗ Total U.S. employees: 68 Total New York employees: 56

of health care premium covered by the employer: 83% ◗ Voluntary turnover: 18%

Paid time off received in rst year: N/A

Paid holidays: 15

64. DeSimone Consulting Engineering

Industry: Engineering | Senior most leader: Stephen V. DeSimone, chairman, CEO

PEAPACK PRIVATE

Total U.S. employees: 315

◗ Total New York employees: 141

Percentage of health care premium covered by the employer: 86%

◗ Voluntary turnover: 18%

Paid time off received in rst year: 15

Paid holidays: 10

65. TuneCore

Industry: Technology | Senior most leader: Andreea Gleeson, CEO

SPONSORED CONTENT

Our enduring goal is to maintain a highly respected commercial bank workplace culture fueled by open communication and respect and appreciation for all employees.

Can you describe your single-point-of-contact model, and how it might relate to the empowerment of your employees?

Peapack Private o ers clientcentric private banking that includes expert insights and customized wealth management, commercial, and personal banking solutions. For the dedicated team driving its success, Peapack Private is also notable for the way it empowers employees to deliver real value to clients. Crain’s New York Business Content Studio reached out to Andrew Corrado, president of

Peapack Private in New York, to learn more.

Can you re ect on your selection to the Crain’s New York Business “Best Places to Work” list?

We are delighted to be named among this group for the first time, especially as it is our first year operating in New York City. That’s an expansion milestone we’re extremely proud of. We hired a large group of employees from the tri-state area and asked them to help us build our brand in Manhattan. So being named to this list illustrates the strength of our culture and the drive of our team, who united their energies to create a remarkable place to work.

How would you describe your organization’s philosophy as an employer?

Total U.S. employees: 131

◗ Total New York employees: 131

Percentage of health care premium covered by the employer: 80%

◗ Voluntary turnover: 10%

Paid time off received in rst year: 15

Paid holidays: 17

66. Reidy Contracting Group

Industry: Construction | Senior most leader: Lorraine Reidy, owner, CEO, CFO | Most senior local leader: Patrick Reidy, owner, president

◗ Total U.S. employees: 56

Total New York employees: 56

◗ Percentage of health care premium covered by the employer: N/A

Voluntary turnover: 37%

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 10

67. RAND Engineering & Architecture, DPC

Industry: Engineering | Senior most leader: Stephen A. Varone, president

Total U.S. employees: 119

◗ Total New York employees: 119

Percentage of health care premium covered by the employer: 80%

◗ Voluntary turnover: 9%

Paid time off received in rst year: N/A

Paid holidays: 12

A bedrock principle at our organization is peerless devotion to client service. at gets executed day to day by our best-in-class talent. Our single-point-of-contact service model is predicated on a consultative approach, which di erentiates Peapack Private from larger institutions.

is approach is made possible by our at organizational structure and a philosophy that empowers sta to make e cient and e ective decisions. Each of our relationship managers can o er a full suite of solutions alongside cutting-edge technology, delivering superb client experiences. And our clients always have access to senior and executive leadership, providing an extra level of comfort as they run their businesses.

Peapack Private has passed its 100th birthday. Can you share how you fuse a centurylong legacy of client services with modern banking expectations and services?

We have a well-established brand steeped in the banking tradition of

68. Phillips Nizer LLP

Industry: Legal | Senior most leader: Marc Landis, managing partner

◗ Total U.S. employees: 95

Total New York employees: 95

◗ Percentage of health care premium covered by the employer: N/A

Voluntary turnover: N/A

◗ Paid time off received in rst year: N/A

◗ Paid holidays: 12

69. January Technologies

Industry: Technology | Senior most leader: Jacob Cahan, CEO

Total U.S. employees: 78

◗ Total New York employees: 46

Percentage of health care premium covered by the employer: 99%

◗ Voluntary turnover: 50%

Paid time off received in rst year: Unlimited

Paid holidays: 9

70. Schwartz Sladkus Reich

Greenberg Atlas LLP

Industry: Legal | Senior most leader: Jeffrey Schwartz, managing partner

Total U.S. employees: 110

◗ Total New York employees: 90 Percentage of health care premium covered by the employer: 80%

◗ Voluntary turnover: 3%

Paid time off received in rst year: 20

Paid holidays: 11

building relationships and providing services and solutions to clients and communities. at will always be an essential part of who we are. At the same time, we recognize the need to o er modern technologies that address the challenges clients face as it relates to their nancial wellbeing. Peapack Private prides itself on identifying the appropriate balance between personal interaction and selfservice technology.

Your organization has been named to American Banker’s “Best Banks to Work For” list for six consecutive years. To what do you attribute such consistency?

Being included on this elite list of banks from across the U.S. is another thrill for us as an organization. We credit that recognition to an amalgamation of factors, each of which is a point of pride for us: from our leadership

and recruitment practices to our culture, commitment to community and steadfast adherence to our core vision. Aside from contributing to our success as an organization, each of these elements helps make Peapack Private a fantastic place for real people to work.

What three words best describe your workplace?

Inclusive. Committed. Innovative.

Private is a division of Peapack-Gladstone

Avenue,

LARGEST LAW FIRMS IN THE NEW YORK AREA

ResearchbyDavidNusbaum(david.nusbaum@crain.com). NewYorkarea includesNewYorkCityandNassau,SuffolkandWestchestercountiesinNewYorkandBergen,Essex,HudsonandUnion countiesinNewJersey. Crain'sNewYorkBusiness usesstaffresearch,extensivesurveysandthemostcurrentreferencesavailabletoproduceitslists,butthereisnoguaranteethatthelistingsare complete.Toqualifyforthislist, rmsmusthaveanof ceintheNewYorkarea.N/A-Notavailable. 1. Attorneyheadcountsarefromthe rm'swebsite. 2. A&OShearmanwasformedonMay1,2024,by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective af liates. See much more at crainsnewyork.com/data

LARGEST LAW FIRMS IN THE NEW YORK AREA

ResearchbyDavidNusbaum(david.nusbaum@crain.com). NewYorkarea includesNewYorkCityandNassau,SuffolkandWestchestercountiesinNewYorkandBergen,Essex,HudsonandUnion countiesinNewJersey. Crain'sNewYorkBusiness usesstaffresearch,extensivesurveysandthemostcurrentreferencesavailabletoproduceitslists,butthereisnoguaranteethatthelistingsare complete. To qualify for this list, rms must have an of ce in the New York area. N/A-Not available. 1. Attorney head counts are from the rm's website. See much more at crainsnewyork.com/data

as of June

LARGEST CREDIT UNIONS IN THE NEW YORK AREA

Some hospitals could face big nes under landmark climate law, new report says

yB Ethan Geringer-Sameth

Hospitals will have their work cut out for them to reduce greenhouse gasses and avoid repercussions under the city’s new building emissions law.

New York City hospitals emit the most carbon of any local buildings, due to their complex energy needs. at could set them up for millions of dollars in penalties each year as the law takes e ect, according to a new report from the New York Building Congress. Much will depend on how strictly the city enforces the new limits and how facilities take advantage of exibility baked into the law.

Hospitals account for 7% of carbon emitted from buildings larger than 50,000 square feet, a subsection of buildings that will face new limits in the next decade under Local Law 97, according to the report. But they face challenges to being retro tted to comply with the law, including the need to accommodate high-energy machinery, ad-

is to reach net zero emissions from big buildings by 2050.

e penalties for a large building could reach around $1 million per year for exceeding carbon limits, according to the report.

The facilities have complicated mandates and are subject to more regulation than many other types of buildings affected by Local Law 97.

here to strict ventilation laws and maintain 24-hour patient services.

e rst stage of the law goes into e ect this year, and stricter limits will be in place by 2030. e goal of Local Law 97, which was passed by city lawmakers in 2019,

Hospitals can mitigate those nes by applying for concessions available to nonpro t inpatient and delivery facilities, and showing they are making a goodfaith e ort, including by submitting emissions reports, to comply with the law. Only the top fth of emissions-producing hospitals would face penalties during the rst limit window, from 2024 to 2029, if they don’t show work toward meeting the threshold, said Department of Buildings spokesman Andrew Rudansky. “Several dozen” hospitals have already applied for the adjustment, he said.

Facilities have until Jan. 1 to apply for a higher emissions limit for the rst period. Enforcement depends in part on the discretion of

the Department of Buildings, which is waiting to see how the good-faith provisions pan out during the rst period before outlining rules for the next period, from 2030-2034, Rudansky said.

e department has met regularly with hospital leaders about the unique position of their facilities, said Rudansky.

“We have been clear in these meetings that we don’t want their money; we want their carbon,” he said.

Leniency for hospitals

e New York Building Congress, which represents construction and real estate interests, wants the Department of Buildings to commit toward leniency for hospitals, it said in its report.

e law is expected to create a $20 billion retro t market over the next decade, according to estimates by the city’s Economic Development Corp., and hospitals could be on the line for a signi -

cant portion of that.

Retro tting a hospital is exceedingly complicated. ey are massive structures, running 24/7 with a huge amount of space dedicated to mechanical infrastructure that would have to be factored into any redesigns. For example, the new cancer center at Memorial Sloan Kettering that was recently approved by the City Council will dedicate roughly half of its proposed 550-foot tower to mechanical space, according to the plan.

Hospitals in New York City are also subject to strict regulations that limit the leeway they have to build and renovate. Major changes to architecture must also come with a plan to mitigate the impact on patient services, which have to be approved by the state, and accommodations must be made when a unit is closed for construction. Hospitals are also often subject to ventilation requirements that add additional hurdles to major retro ts, according to the report.

Long Island City’s Zipper Building sells for $11M

yB Eddie Small

A developer known for ofce-to-residential conversions has sold a Long Island City property it helped convert from industrial to o ce space.

e Vanbarton Group has sold the Zipper Building at 47-16 Austell Place in the Queens neighborhood to Brooklyn-based developer Jack Guttman for $11 million, property records show. Vanbarton purchased the building in 2015 for $7.7 million and had listed it for $13 million, according to property records and marketing materials.

e 4-story Zipper Building, which once operated as a zipper factory, spans 51,200 square feet and recently underwent a roughly $8.5 million renovation that included new elevators and windows, according to materials from the brokerage Ripco Realty, which represented Vanbarton in the deal. e building is 87.4% leased, with asking rents between $35 and $40 per square foot, and its tenants include the Jo rey Ballet

School, Maman Events and the bakery Hungry Gnome, according to Ripco and commercial real estate database CoStar.

Plans for the building

Vanbarton did not have any long-term plans for the building, and felt it no longer t the company’s investment criteria, prompting its decision to sell, according to a source familiar with the deal. Guttman felt the building t in well with the rest of his portfolio and plans to hold on to it for the foreseeable future without making any particularly big changes, the source said.

Representatives for Vanbarton and Guttman did not respond to requests for comment by press time. Ripco’s Stephen Preuss and Andreas Efthymiou represented Vanbarton.

Vanbarton, based in Midtown, has become a big name in ofce-to-residential conversions in recent years. It is under contract to buy 77 Water St. downtown for

about $95 million and plans to make it into an apartment tower with up to 600 rental units. It also has converted the former o ce building at 160 Water St. by the South Street Seaport into a 588unit luxury rental building called Pearl House. Vanbarton also recently sold 17 John St., a former Financial District o ce tower now

in use as a hotel, for $64 million.

Guttman’s rm, Pearl Realty Management, is based in Dumbo. e company recently purchased a stake in the Dumbo o ce building at 81 Prospect St. from RFR and Kushner for about $33.8 million and sold a pair of Greenpoint properties to TF Cornerstone for about $175 million.

The Zipper Building at 47-16 Austell Place in Long Island City | COSTAR

CLASSIFIEDS

Zebra Tech Corp has an opening in Holtsville, NY for Adv SW Eng: Prfrm hnds on dsgn, dev & dbug. MS+6 or BS+8 yrs reqd. Salary: $111,000 - $183,200. Salary offered will vary w/in range based on variety of factors. All Zebra roles eligible for cash incentive programs. Telecom may be prmtd. When not telecom, mst rprt to wrkste. To apply email resume to Jobs@Zebra.com & ref job #7324697. If you are an indvdal w/a disbility & need asstnce in aplyng for psiton, contct us at workplace.accommodations@zebra.com. The EEO is the Law. The posters are avalble here: https://www.eeoc.gov/sites/default/files/2023-06/22088_EEOC_KnowYourRights6.12.pdf; https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/OFCCP_ EEO_Supplement_Final_JRF_QA_508c.pdf

Principal (Apollo Global Management LLC – New York, NY); Mult. Pos. Avail. Drive financial svcs acquisitions and strategic investments across the capital structure, spearheading all aspects of deal process from thesis definition to due diligence, relationship dev, analysis, negotiations, financing, portfolio co mgmt/value add, & exit. Assist with due diligence process, incl all bus, financial, legal, and tech due diligence. F/T. Sal range $280,000 to $320,000/yr. Resumes: pkotakonda@apollo.com. Ref: Job ID: 7721450

Director - NYS Small Business Development Center (SBDC)

Reporting to the Chief Administrator of Community Partnerships and Government Relations, the Director of the NYS Small Business Development Center will play a key role in driving innovative programs and building strategic partnerships that empower small businesses and fuel economic growth throughout New York State. Full Job Description and Requirements available at jobs.crainsnewyork.com

REQUEST FOR PROPOSALS

Senior Manager of Business Strategy and Financial Management

Bennett Midland seeks a business strategist with deep experience in financial planning and analysis. We are a professional services firm that deploys teams to support civic sector organizations to solve their complex challenges and our biggest asset is our team. We are most effective—externally and internally—when we have strategies in place that harmonize the skills our team can provide with the opportunities we pursue, and when those opportunities align with the strategic goals we set for our business. The Senior Manager of Business Strategy and Financial Management will conduct research and analysis, develop financial models, and execute on internal operational workstreams to ensure our effectiveness and drive strategic decision-making.

Full Job Description and Requirements available at jobs.crainsnewyork.com

Cardiovascular Service Line Administrator

The Administrator for the Heart and Vascular Institute is an important position and represents a unique opportunity to pull together cardiac surgery and cardiology into a single operational entity to support comprehensive Cardiovascular care at SUNY Upstate. This Executive will arrive at a pivotal time in SUNY Upstate’s history and is expected to work with the team to create the strategy and infrastructure for a future Heart and Vascular Institute and to lead the growth and expansion of the program to meet the growing needs of the community in central New York. Full Job Description and Requirements available at jobs.crainsnewyork.com

Notice of Formation: Nagle Qiu & Shi LLC Art. Of Org. filed with Sec. of State of NY (SSNY) on 08/26/2024. Office Loc.: New York County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: 82 Nagle AVE, New York, NY 10040, USA Purpose: Any lawful activity.

VINEA LLC Arts of Org. filed SSNY 7/29/2024 New York Co. SSNY design agent for process & shall mail to 45 W 76th Street Apt 1B, NEW YORK, NY, 10023 RA: US CORP AGENTS, INC. 7014 13TH AVE, SUITE 202, BROOKLYN, NY, 11228 General Purpose

Notice of Formation of

and

mail copy of process against LLC, to 21 W 38TH ST, FL 10, New York, NY 10018.

Purpose: any lawful act.

CAMILLE GALLO, LLC Arts of Org filed with Secy of State of NY (SSNY) on 2/29/24. Office

Location: New York County. SSNY designated as agent upon whom process may be served against LLC to: Camille Gallo, 66 Madison Ave,Ste 8C, NY, NY, 10016, USA, CamilleGallo@Live.com

Purpose: any lawful act.

DIA NATURAL STONE LLC Arts of Org. filed SSNY 10/01/2024 New York Co. SSNY design agent for process & shall mail to THE LLC 368 9th Ave, WEWORK C/O KEREM SAZ, NY, NY 10001 RA: US CORP AGENTS, INC. 7014 13TH AVE, STE 202, BROOKLYN, NY, 11228 General Purpose

PUBLIC & LEGAL NOTICES

Notice of Qualification of INFORMA CONNECT USA LLC

Appl. for Auth. filed with Secy. of State of NY (SSNY) on 08/05/24. Office location: NY County. LLC formed in Delaware (DE) on 04/30/24. 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 Jeffrey W. Bullock, Secy. of State, Div. of Corps., John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.

HSH MANHATTAN LLC. Arts. of Org. filed with the SSNY on 09/18/24. Office: New York County. SSNY designated as agent of the LLC upon whom process against it may be served. SSNY shall mail copy of process to the LLC, c/o Marcum LLP, 730 Third Avenue, 11th Floor, New York, NY 10017. Purpose: Any lawful purpose.

Notice of Formation of AURORA BLISS COMPANY, LLC Arts of Org filed with Secy of State of NY (SSNY) on 7/24/24. Office Location: NY County. SSNY designated as agent upon who process shall be served and shall mail copy of process against LLC to 500 West 18th Street, Unit 20E, New York, ,NY 10011. Purpose: any lawful act.

Notice of Formation of 200 E 69TH STREET APT. 25B LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 09/10/24. Office location: NY County. Princ. office of LLC: c/o Melissa E. Sydney, Esq., Tarlow, Breed, Hart & Rodgers, P.C., 101 Huntington Ave., Ste. 500, Boston, MA 02199. 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.

LUCIDITY CAPITAL PARTNERS

LLC Application of AuthorityOrg. filed with the SSNY on 08/16/24. Office: New York County. SSNY designated as agent of the LLC upon whom process against it may be served. SSNY shall mail copy of process to the LLC, 555 West 53rd Street. #1547, NY, NY 10019. Purpose: Any lawful purpose.

Notice of Qualification of LEVEL STRUCTURED CAPITAL III, L.P. Appl. for Auth. filed with Secy. of State of NY (SSNY) on 09/05/24. Office location: NY County. LP formed in Delaware (DE) on 08/30/24. Princ. office of LP: 140 E. 45th St., NY, NY 10020. Duration of LP is Perpetual. SSNY designated as agent of LP upon whom process against it may be served. SSNY shall mail process to c/o Corporation Service Co. (CSC), 80 State St., Albany, NY 12207-2543. Name and addr. of each general partner are available from SSNY. DE addr. of LP: CSC, 251 Little Falls Dr., Wilmington, DE 19808. Cert. of LP filed with Secy. of State of the State of DE, Div. of Corps., John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Investments.

Notice of Formation of AMY R. ALSON, MD, PLLC Arts of Org filed with Secy of State of NY (SSNY) on 7/24/24. Office Location: NY County. SSNY designated as agent upon who process shall be served and shall mail copy of process against THE LLC, to 205 E. HIGH ST.. CHARLOTTESVILLE, VA, 22902.. Purpose: any lawful act.

Retail vacancies plummet in third quarter amid sector’s remarkable recovery since the pandemic

yB Eddie Small

e amount of available retail space in the city fell to its lowest level on record last quarter, the latest sign of the sector’s shockingly strong recovery from the pandemic, according to data from JLL. e availability rate was 14.7% for the third quarter of 2024, while the total number of available spots was 202, both record lows, the brokerage’s report says. e gures mark a remarkable turnaround for the industry, which had already been struggling before the pandemic with an average availability rate of 21% in 2019, according to

The city’s availability rate fell to 14.7% during the third quarter of 2024, according to data from JLL.

JLL. e initial wave of store closures and bankruptcies during the onset of Covid only made things worse, with availabilities peaking at 28% in 2021.

But the sector is now in a much

better place, with the amount of available space falling quarter over quarter across seven of the nine prime submarkets that JLL tracks. Availability rates last quarter ranged from 6.4% on Madison Avenue — which was actually one of the two submarkets that saw a slight increase — to 33.3% on 34th Street/Herald Square.

Rate ties record low

e availability rate on Lower Fifth Avenue tied its record low of 11.3%, while SoHo’s fell to 11.5%, according to the report. French skin care company Caudalie also purchased a SoHo retail property at 130 Greene St. for about $10 million last quarter, continuing a trend of retailers opting to buy their own buildings. e average asking rent remained lower than before the pandemic, at $545 per square foot, down slightly year over year and quarter over quarter as well. However, some submarkets still saw the average tick up signi cantly, including yearover-year increases of 23% in Times Square and 9% on Upper Fifth Avenue. e average asking rent ranged from $238 per square

foot in Williamsburg to $2,257 per square foot on Upper Fifth Avenue overall.

Yeshiva University taking 160,000 square feet at 1293 Broadway in Herald Square tops the report’s list of signi cant leases

during the third quarter (Colliers had also included this deal in its third quarter report on Manhattan’s o ce market). Other major retail leases included hospitality rm Convene taking about 75,000 square feet at 30 Hudson Yards

In

TUESDAY, NOVEMBER 12 8:30-10 a.m.

and School in the Square leasing 60,000 square feet at 4605 Broadway in Inwood.

the second quarter, the retail availability rate was 15.3%, and there were 210 available spots, per JLL’s report from that period.

popular among business leaders.

“It’s a very complex time in our city,” Torres-Springer said Oct. 8, standing alongside Adams at a City Hall press conference. Under Adams, Torres-Springer has played a leading role pushing the City of Yes zoning reforms for housing and small businesses, as well as major land-use projects in Willets Point and Governors Island, and state-level changes to housing policy.

Adams said that Torres-Springer’s fellow deputy mayors had recommended her for the job, citing her knowledge, experience and “ability to remain calm in rough seas.” Her duties will include overseeing the city budget, supervising the other deputy mayors and maintaining her current portfolio of housing and economic development.

Adams denied that Hochul had “signed o ” on Torres-Springer’s promotion, asserting that he still has control over all personnel changes. In another sign of the trust he is placing in Torres-Springer, he announced that she would lead “an immediate review of personnel, programs and policies” along with Chief of Sta Camille Joseph Varlack, in hopes of taming City Hall’s organizational structure.

Among those who immediately

praised Torres-Springer’s appointment were Steven Rubenstein, chairman of the Association for a Better New York; Kathryn Wylde, president and CEO of the Partnership for New York City; and two union leaders, Manny Pastreich of 32BJ and Henry Garrido of DC37.

“She has a comprehensive knowledge of city government,” Wylde told Crain’s. “ ere are few people who could take on the job at this moment in time who have comparable skills and experience.”

Carl Weisbrod, the former City Planning director who is now a senior adviser at the real estate rm HR&A, called himself “a huge Maria Torres-Springer fan.”

“ e business community, the not-for-pro t community, and the broadly-speaking government diaspora has an enormous regard for her and will greet this appointment with enthusiasm and with a degree of con dence,” Weisbrod said.

Adams needs all the con dence he can get. Facing dismal approval ratings from the general public and calls for his resignation, Adams also faces slumping support in the business community that helped get him elected mayor in 2021. In recent days, several private-sector leaders told Crain’s they feared Adams would struggle to govern during the year that remains of his rst term as mayor, given his weakened standing and pledge to aggressively ght the ve

criminal charges he faces. Besides promoting Torres-Springer, Adams has also secured the resignations of gures including Tim Pearson, his senior adviser, and Phil Banks, the deputy mayor for public safety — longtime personal friends who had both been dogged by controversy even before they were raided by the authorities last month.

Filling a vacuum

Wright, for her part, had been well-respected as rst deputy mayor. But one person familiar

with City Hall dynamics said she had not exerted the kind of in uence usually expected from someone in her role, leaving a vacuum that was partly lled by other ocials — including the powerful budget director, Jacques Jiha. Wright, an attorney and former real estate and nonpro t executive, hadn’t served in city government before joining the Adams administration.

During Michael Bloomberg’s mayoralty, Torres-Springer served as chief of sta to then-EDC CEO Seth Pinsky. She became Small Business Services commissioner

“She has a comprehensive knowledge of city government.”

Kathryn Wylde, president and CEO of the Partnership for New York City

under Bill de Blasio in 2015, followed by two years each in the top roles at EDC and the Housing Preservation and Development Department. She then spent three years as a vice president at the Ford Foundation before joining the Adams administration in 2022.

“I’ve supported your small businesses. I’ve helped build your affordable homes. I’ve connected your neighbors to jobs, partnered with local leaders, and have always worked to ensure that no neighborhood is left behind,” Torres-Springer said Oct. 8. “ is is my life’s work, and I’m humbled that I get to continue this work in this new role.”

As Adams’ power recedes following his indictment and some of his loyalists are shown the door, some observers expect that his more technocratic deputies may see their in uence grow.

“ e silver lining of this crisis,” Wylde said, “is that the mayor has a very strong team of professionals in City Hall and running agencies who are moving into a position of greater authority.”

Maria Torres-Springer | BENNY POLATSECK/MAYORAL PHOTOGRAPHY OFFICE

A Mexican architect brings her ‘visual language’ to her new of ce

Frida Escobedo, who is designing the Metropolitan Museum of Art’s new Tang Wing, opens Greenwich Village location

After she graduated from high school early, Frida Escobedo was unsure what she wanted to pick as a career. She loved arts and design, so she decided to study architecture in college on a whim.

“I thought architecture would give me a bigger spectrum of possibilities. It was almost like architecture was a way of structuring ideas,” she recalled. “But the rst week that I was in school, I really

of Hotel Boca Chica, the El Eco Pavilion and the expansion of La Tallera Siqueiros in Cuernavaca.

In 2018 she took her talents on the road. She traveled to London to design a structure for the annual Serpentine Gallery Pavilion Exhibition in Kensington Gardens, becoming the youngest architect at the time to undertake the project.

Her work also brought her to New York — a place she rst visited at 7 years old on a trip with her mother, who took her to the Metropolitan Museum of Art.

“I thought architecture would give me a bigger spectrum of possibilities.”

loved it. So I think intuitively I was making the right choice.”

Born and raised in Mexico City, Escobedo went on to graduate from Universidad Iberoamericana and years later from Harvard’s Graduate School of Design. She opened her eponymous architecture studio in Colonia Juarez, Mexico, in 2006, eventually winning a series of awards on local projects, including the renovation

She would come back to the Met in an o cial capacity in 2022, when she was selected to design the museum’s new Tang Wing, which will house modern and contemporary art, for $500 million, making her the rst woman to be selected to design a wing in the Manhattan institution’s more than 150-year history. e wing is set to open in 2029. e project made it clear she needed to put some permanent roots down in Manhattan. Escobedo’s rst o ce outside of Mexico City opened in June at 214 Sullivan

By | Julianne Cuba

St. in the heart of Greenwich Village.

Projects worth $1 billion

e 2,300-square-foot site provides 13 of her New York-based architects the space to work and collaborate on the rm’s high-prole projects, $1 billion worth of which are taking place across the city. In addition to the Tang Wing, Escobedo is designing Ray Harlem, a mixed-use development on 125th Street in collaboration with Handel Architects that will include a new home for the National Black eatre.

Escobedo credits her success to taking chances, and she encourages other young, budding architects to do the same.

“I took the nontraditional route of opening a studio grounded in an artistic sensibility, creating a clear visual language and going for projects designed to embrace bold designs,” she said. “Forgoing a more traditional practice was daunting, but it’s what sets my studio apart and has allowed me to work on some of the most exciting projects around the world.”

Age 45

Born and raised Mexico City Resides Mexico City and Chelsea

Education Bachelor’s in architecture and urbanism, Universidad Iberoamericana; master’s in architecture, Harvard’s Graduate School of Design

Family life Escobedo lives with her partner, Mauricio Mesta, who is also an architect, and their dog, Sony. “Two architects on vacation is probably what you’d expect: We’re often on the lookout for interesting buildings and spaces,” she said. “I suppose we’re always on the job.”

Out of of ce Escobedo said she and Mesta love to cook and host friends, as well as go out to eat at friends’ restaurants when in Mexico City. When in New York, she often visits the Metropolitan Opera or the beach on a day off.

Frida Escobedo

Architect Frida Escobedo at the Met | BUCK ENNIS